MIRA INFORM REPORT

 

 

Report Date :

14.09.2013

 

IDENTIFICATION DETAILS

 

Name :

PA-KOR TRADING CO., LTD.

 

 

Registered Office :

Rm.1309. Gangbyeon Hanshin Core Bldg., 350, Mapo-dong, Mapo-gu, Seoul, Korea 121-703

 

 

Country :

South Korea

 

 

Date of Incorporation :

16.01.1997

 

 

Com. Reg. No.:

105-81-85021

 

 

Legal Form :

Co., Ltd by shares

 

 

Line of Business :

Wholesale of Other Prepared Food (Meat Products, Meat Processing Products)

 

 

No. of Employees :

3

 

 

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

 

Company Name

PA-KOR TRADING CO., LTD.

(Korean Company Name : “(주)파코트레이딩”)

Registered Address

350, Mapo-dong, Mapo-gu, Seoul, Korea

Building

Rm.1309. Gangbyeon Hanshin Core Bldg.

Zip Code

121-703

Tel

+82-2-715-7223~4

Fax

+82-2-719-2149

Trading Address

Rm.1309. Gangbyeon Hanshin Core Bldg., 350, Mapo-dong, Mapo-gu, Seoul, Korea

Tel

+82-2-715-7223~4

Fax

+82-2-719-2149

Other Address-Paju Branch

315-1, Gaya-ri, Beobwon-eup, Paju-si, Gyeonggi-do, Korea

Tel

+82-31-958-7894

Fax

+82-31-958-7896

Other Address-Ansan Branch

792-30, Wongok-dong, Danwon-gu, Ansan-si, Gyeonggi-do, Korea

Tel

+82-70-8299-8992

Fax

+82-31-958-7896

Other Address

140-22, Itaewon-dong, Yongsan-gu, Seoul, Korea

Other Address

132-2, Itaewon-dong, Yongsan-gu, Seoul, Korea

Other Address

B1, 34, Usadan-rol, Yongsan-gu, Seoul, Korea

Type

Export/Import

Industry

Wholesale of Other Prepared Food

  Main Business

Meat Products, Meat Processing Products

  Sub Business

Textiles, Fabrics, Leather Products, Electronic Components

Established (mm/dd/yyyy)

01/16/1997

The Subject Company occupies the premises of registered HQ address by leasing base.

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Processed and prepared meats(50112000)

Sell

Herbs and spices and extracts(50171500)

Sell

Spices or extracts(50171550)

 

 

CEO’s

 

Name

Mehr Mazhar Khan Luk

Address

Rm.1309. Gangbyeon Hanshin Core Bldg., 350, Mapo-dong, Mapo-gu, Seoul, Korea

Date of Birth

12/30/1968

Title

President & CEO

Sex

Male

Nationality

Pakistan

 

 

Profiles

 

Capital (KRW)

600,000,000

Employees

3

Formation

Co., Ltd by shares

Bank Details

Citibank, Korea-Mapo Branch

Corporate Registered No.

110111-1365447

Business Registered No.

105-81-85021

Permit & Licenses

Int’l Trade No.: 11414432

Shareholder Position

N/A

Company History

01/16/1997 Incorporated as the present name

09/06/2000 Increased capital to 188,000,000 KRW from 100,000,000 KRW

09/03/2004 Increased capital to 290,000,000 KRW from 188,000,000 KRW

03/12/2012 Increased the authorized shares to 500,000 shares from 40,000 shares

03/13/2012 Increased capital to 600,000,000 KRW from 290,000,000 KRW

 

 

 

 

Detailed Information

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

Mr.

Mehr Mazhar Khan Luk

Male

Pakistan

11/08/1999

Director

Mr.

Muhammad Paluk

Male

Pakistan

03/31/2000

Auditor

Mr.

Muhammad Az Amed

Male

Pakistan

01/16/1997

 

Financials

 

The financials are not available, and the Subject Company does not have any obligations to release its financials to the public.

 

Financial Description

 

Authorized Capital(KRW)

5,000,000,000

Paid-Up Capital(KRW)

600,000,000

Total Issues Shares

60,000

 

 

 

 

Products, Technologies, Services Description

 

Main Products & Services

Coriander Powder

 

 

Trade Partners & Competitors

 

Competitors

KSB FOODS CO., LTD.

125-37, SONGSAN-DONG, HWASEONG-SI, GYEONGGI-DO, KOREA

TEL:+82-31-232-9872  FAX:+82-31-234-0201

 

COSIS CO., LTD.

 384-16, BAEKJA-RI, SUSIN-MYEON, DONGNAM-GU, CHEONAN-SI, CHUNGCHEONGNAM-DO, KOREA

TEL:+82-41-552-1151  FAX:+82-41-552-1153

 

IL CORPORATION

RM. 1104, KRANZ TECHNO, 5442-1, SANGDAEWON 1-DONG, JUNGWON-GU, SEONGNAM-SI, GYEONGGI-DO, KOREA

TEL:+82-31-777-8833~5  FAX:+82-31-777-8836

 

 

Sales by Region (Activity & Markets)

 

The Subject imports from Pakistan and Denmark.

 

 

Court Action

 

Not Available.

 

 

News Clipping

 

---

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.78

UK Pound

1

Rs.100.70

Euro

1

Rs.84.66

 

INFORMATION DETAILS

 

Report Prepared by :

NLM

 

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.