MIRA INFORM REPORT

 

 

Report Date :

25.10.2013

 

IDENTIFICATION DETAILS

 

Name :

HI-TOP TEXLAND CO., LTD.

 

 

Registered Office :

481-2, Gasan-dong, Geumcheon-gu, Seoul, Korea Rm.1206, Ace Hiend Tower 9-cha

 

 

Country :

South Korea

 

 

Financials (as on) :

2012

 

 

Date of Incorporation :

08.11.2005

 

 

Com. Reg. No.:

119-81-82848

 

 

Legal Form :

Co., Ltd by Shares

 

 

Line of Business :

Subject is engaged in polyester fabrics processing.

 

 

No. of Employees :

05

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Unknown

Litigation :

Clear

 

 

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – March 31st, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

South Korea

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

SOUTH KOREA - ECONOMIC OVERVIEW

 

South Korea over the past four decades has demonstrated incredible growth and global integration to become a high-tech industrialized economy. In the 1960s, GDP per capita was comparable with levels in the poorer countries of Africa and Asia. In 2004, South Korea joined the trillion dollar club of world economies, and is currently the world's 12th largest economy. Initially, a system of close government and business ties, including directed credit and import restrictions, made this success possible. The government promoted the import of raw materials and technology at the expense of consumer goods, and encouraged savings and investment over consumption. The Asian financial crisis of 1997-98 exposed longstanding weaknesses in South Korea's development model including high debt/equity ratios and massive short-term foreign borrowing. GDP plunged by 6.9% in 1998, and then recovered by 9% in 1999-2000. Korea adopted numerous economic reforms following the crisis, including greater openness to foreign investment and imports. Growth moderated to about 4% annually between 2003 and 2007. Korea''s export focused economy was hit hard by the 2008 global economic downturn, but quickly rebounded in subsequent years, reaching 6.3% growth in 2010. The US-South Korea Free Trade Agreement was ratified by both governments in 2011 and went into effect in March 2012. Throughout 2012 the economy experienced sluggish growth because of market slowdowns in the United States, China, and the Eurozone. The incoming administration in 2013, following the December 2012 presidential election, is likely to face the challenges of balancing heavy reliance on exports with developing domestic-oriented sectors, such as services. The South Korean economy''s long term challenges include a rapidly aging population, inflexible labor market, and heavy reliance on exports - which comprise half of GDP

Source : CIA

 

Basic Information

 

Basic

 

Company Name

HI-TOP TEXLAND CO., LTD.

(Korean Company Name : “(주)하이탑텍스랜드”)

Registered Address

481-2, Gasan-dong, Geumcheon-gu, Seoul, Korea

Building

Rm.1206, Ace Hiend Tower 9-cha

Zip Code

153-803

Tel

+82-2-3775-0288

Fax

+82-2-3775-0287

E-mail

john@hitoptex.co.kr

Website

www.hitoptex.co.kr

Trading Address

Rm.1206, Ace Hiend Tower 9-cha, 481-2, Gasan-dong, Geumcheon-gu, Seoul, Korea

(New Address System : 233, Gasan digital 1-ro, Geumcheon-gu, Seoul, Korea)

Tel

+82-2-3775-0288

Fax

+82-2-3775-0287

Other Address

 

Tel

 

Fax

 

Type

Export

Industry

Other Dyeing and Finishing Textiles

  Main Business

Polyester Fabrics Processing

  Sub Business

Metal Scrap, Metal Byproducts

Established (mm/dd/yyyy)

08/11/2005

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Fabrics and leather materials(11160000)

 

CEO’s

 

Name

Cha Geun-Jun

Address

Suite 127-601, 901, Mok-dong, Yangcheon-gu, Seoul, Korea

Date of Birth

03/05/1963

Title

President & CEO

Sex

Male

Nationality

Korean

 

Profiles

 

Capital (KRW)

50,000,000

Employees

5

Formation

Co., Ltd by Shares

Bank Details

Korea Exchange Bank-Mapo Branch

Corporate Registered No.

110111-3286584

Business Registered No.

119-81-82848

Permit & Licenses

Int’l Trade No.: 11481560

Shareholder Position

N/A

Company History

08/11/2005 Incorporated as the present name

05/30/2011 Moved to 371-50, Gasan-dong, Geumcheon-gu, Seoul, Korea from Rm. 1204, Namsung Plaza(Ace 9-cha), 345-30, Gasan-dong, Geumcheon-gu, Seoul, Korea

12/23/2011 Designated as a Venture Business

09/27/2013 Moved to the present HQ address from 371-50, Gasan-dong, Geumcheon-gu, Seoul, Korea

 

 

 

 

Detailed Information

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

Mr.

Cha Geun-Jun

Male

Korean

04/24/2009

Director

M/S.

Jung Soo-Nyeon

Female

Korean

02/28/2011

 

 

Financial Description

 

Authorized Capital(KRW)

200,000,000

Paid-Up Capital(KRW)

50,000,000

Total Issues Shares

10,000

 

 

Products, Technologies, Services Description

 

Main Products & Services

Polyester Fabrics Processing

 

 

Trade Partners & Competitors

 

Suppliers

 

Customers

 

Competitors

DO BEST CO., LTD.

105-112, GONGDEOK-DONG, MAPO-GU, SEOUL, KOREA

TEL:+82-2-3271-3800  FAX:+82-2-3271-3899

 

DREAM SEEKERS INC.

RM. 2410, MASTERS TOWER BLDG., 553, DOHWA-DONG, MAPO-GU, SEOUL, KOREA

TEL:+82-2-3275-5111~2  FAX:+82-2-3275-5113

 

HANWOO CORPORATION

4TH FL., 322-21, HAENGDANG 2-DONG, SEONGDONG-GU, SEOUL, KOREA

TEL:+82-2-2299-9100~8  FAX:+82-2-2299-9109

 

 

Related Parties (Subsidiaries, Joint-Venture & Affiliates)

 

Affiliates

 

Overseas Office

USA :

108W 39TH STREET, SUITE, # 601 NEW YORK, NY 10018

TEL:+82-1-212-268-4341 FAX:+1-212-268-4342

 

CHINA : SHANGHAI

SUITE 102, NO.15,(AIJIAN YUAN) LANE 100, TIANLIN EAST ROAD, SHANGHAI, (200235) CHINA

TEL: +86-21-3425-0018 FAX: +86-21-6439-0174

 

CHINA : TIANJIN OFFICE

ROOM 701 BAOGANG BUILDING NO.100 WEIDI ROAD HEXI DISTRICT TIANJIN CHINA

TEL:+86-22-2822-2407  FAX:+86-22-2822-2409

 

 

News Clipping

 

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FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.41

UK Pound

1

Rs.99.53

Euro

1

Rs.84.82

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIS

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

New Business

 

--

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.