|
Report Date : |
05.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHINSUNG MINERAL CO., LTD. |
|
|
|
|
Registered Office : |
34, Jocheon-Ro 2-gil Cheongan-myeon goesan-gun, Chungcheongbuk-Do |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2011 |
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|
|
|
Date of Incorporation : |
18.07.2001 |
|
|
|
|
Com. Reg. No.: |
301-81-54242 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Manufacturer of Other Fertilizers and Nitrogen Compounds
such as Potting
Soil |
|
|
|
|
No. of Employees : |
20 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
Usually Correct |
|
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 |
|
Company
Name |
SHINSUNG MINERAL
CO., LTD. (Korean Company
Name : “(주)신성미네랄”) |
|
Registered Address (New) |
34, Jocheon-Ro 2-gil Cheongan-myeon goesan-gun, Chungcheongbuk-Do, Korea |
|
Registered Address (Old) |
980, Jocheon-ri, Cheongan-myeon, Goesan-gun, Chungcheongbuk-do, Korea |
|
Zip Code |
367-833 |
|
Tel |
+82-43-836-9630 |
|
Fax |
+82-43-836-9653 |
|
E-mail |
|
|
Website |
|
|
Trading Address |
Rm.1108, Woolim Lion’s Valley, 5445,
Sangdaewon-dong, Jungwon-gu, Seongnam-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-720-5070 |
|
Fax |
+82-31-720-5069 |
|
Type |
Import |
|
Industry |
Manufacture of Other Fertilizers and Nitrogen Compounds |
|
Main Business |
Potting Soil |
|
Established (mm/dd/yyyy) |
07/18/2001 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Additives(12160000) |
|
Sell |
Soil(11111501) |
|
Name |
Jung Ki-Yoon |
|
Address |
56-21, Munhyeongsan-gil 47beon-gil,
Opo-eup, Gwangju-si, Gyeonggi-do, Korea |
|
Date of Birth |
06/12/1956 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
250,000,000 |
|
Employees |
20 |
|
Formation |
Co., Ltd by Shares |
|
Bank Details |
Korea Exchange Bank-Guro Branch |
|
Corporate Registered No. |
1544110-010269 |
|
Business Registered No. |
301-81-54242 |
|
Permit & Licenses |
11/24/2006 ISO 9001 11/24/2006 ISO 14001 |
|
Shareholder Position |
N/A |
|
Company History |
07/18/2001 Incorporated as the present name 05/31/2012 Increased capital to 250,00,000 KRW
from 100,000,000 KRW |
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Jung Ki-Yoon |
Male |
Korean |
03/15/2013 |
|
Director |
Mr. |
Cha Ho-Sun |
Male |
Korean |
03/15/2013 |
|
Director |
Mr. |
Song Jae-Hyung |
Male |
Korean |
03/15/2013 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
|
|
|
|
|
2011 |
10,486,000,000 |
7,608,000,000 |
415,000,000 |
|
2010 |
12,849,000,000 |
6,598,000,000 |
457,000,000 |
|
2009 |
12,585,000,000 |
5,606,000,000 |
399,000,000 |
|
2008 |
10,891,000,000 |
4,398,000,000 |
375,000,000 |
|
2007 |
7,983,000,000 |
3,829,000,000 |
518,000,000 |
|
Authorized Capital(KRW) |
400,000,000 |
|
Paid-Up Capital(KRW) |
250,000,000 |
|
Total Issued Shares |
25,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Total Assets |
7,608,000,000 |
6,598,000,000 |
5,606,000,000 |
|
Current Assets |
3,408,000,000 |
3,588,000,000 |
3,722,000,000 |
|
-Quick Assets |
- |
- |
- |
|
-Inventories |
- |
- |
- |
|
Fixed Assets |
4,200,000,000 |
3,010,000,000 |
1,884,000,000 |
|
-Investment |
- |
- |
- |
|
-Tangibles |
- |
- |
- |
|
-Intangibles |
- |
- |
- |
|
Total Liabilities |
4,736,000,000 |
4,141,000,000 |
3,606,000,000 |
|
Current Liabilities |
1,644,000,000 |
1,772,000,000 |
1,910,000,000 |
|
Fixed Liabilities |
3,092,000,000 |
2,369,000,000 |
1,696,000,000 |
|
Capital Stock |
100,000,000 |
100,000,000 |
100,000,000 |
|
Capital Surplus |
- |
- |
- |
|
Profit Surplus |
- |
- |
- |
|
Capital Adjustment |
- |
- |
- |
|
Total Equity |
2,872,000,000 |
2,457,000,000 |
2,000,000,000 |
|
Liab. & Shareholder’s Equity |
7,608,000,000 |
6,598,000,000 |
5,606,000,000 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Sales |
10,486,000,000 |
12,849,000,000 |
12,585,000,000 |
|
Cost of Sold Goods |
8,983,000,000 |
11,329,000,000 |
11,210,000,000 |
|
Gross Profit |
1,503,000,000 |
1,520,000,000 |
1,375,000,000 |
|
Selling & Admin. Expenses |
824,000,000 |
884,000,000 |
825,000,000 |
|
Operating Income |
679,000,000 |
636,000,000 |
550,000,000 |
|
Non-Operating Income |
82,000,000 |
75,000,000 |
88,000,000 |
|
Non-Operating Expenses |
225,000,000 |
175,000,000 |
160,000,000 |
|
Income Before Taxes |
535,000,000 |
536,000,000 |
478,000,000 |
|
Income Taxes Expenses |
120,000,000 |
79,000,000 |
79,000,000 |
|
Net Income |
415,000,000 |
457,000,000 |
399,000,000 |
|
Main Products & Services |
Potting Soil |
|
Competitors |
SEGI
CORPORATION 1876, JANGHEUNG-DONG,
NAM-GU, POHANG-SI, GYEONGSANGBUK-DO, KOREA TEL:+82-54-278-4020 FAX:+82-54-278-4024 DAEYU CO.,
LTD. 157, BUJEOK
1-RI, AMNYANG-MYEON, GYEONGSAN-SI, GYEONGSANGBUK-DO, KOREA TEL:+82-53-817-3012 FAX:+82-53-817-1577 MEE KWANG
CO., LTD. 150-6,
BANJEONG-RI, BUGAN-MYEON, YEONGCHEON-SI, GYEONGSANGBUK-DO, KOREA TEL:+82-54-331-8842 FAX:+82-54-331-4955 |
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
SHINSUNG TRADING
CO., LTD.(110111-0618673) SHINSUNG CHEMTECH CO., LTD.(110111-2347212) |
(Activity & Markets)
The Subject imports
from South Africa, Sri Lanka and India.
Not Available.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.67.03 |
|
UK Pound |
1 |
Rs.104.32 |
|
Euro |
1 |
Rs.88.24 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.