|
Report Date : |
17.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAMWOO PRECISION MANUFACTURE COMPANY |
|
|
|
|
Registered Office : |
Rm.318, 5-Ra, Shiwha Industrial Complex,
672-22, Seonggok-Dong, Danwon-Gu, Ansan-SI, Gyeonggi-Do, Korea 425-836 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
01.03.2000 |
|
|
|
|
Com. Reg. No.: |
131-08-06191 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Manufacture of Engine
components and accessories |
|
|
|
|
No. of Employees : |
11 |
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 : |
No Complaints |
|
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 |
SAMWOO PRECISION MANUFACTURE COMPANY 9Korean Company Name : “삼우정공”) |
|
Registered Address |
672-22,
Seonggok-dong, Danwon-gu, Ansan-si, Gyeonggi-do, Korea |
|
Building |
Rm.318, 5-Ra, Shiwha Industrial Complex |
|
Zip Code |
425-836 |
|
Tel |
+82-31-431-0496 |
|
Fax |
+82-31-431-0497 |
|
E-mail |
samwoomd@chollian.net |
|
Trading Address |
Rm.318,
5-Ra, Shiwha Industrial Complex, 672-22, Seonggok-dong, Danwon-gu, Ansan-si,
Gyeonggi-do, Korea |
|
Tel |
+82-31-431-0496 |
|
Fax |
+82-31-431-0497 |
|
Type |
Export |
|
Industry |
Manufacture
of Engine
components and accessories |
|
Main Business |
Crank shaft Mold |
|
Established (mm/dd/yyyy) |
03/01/2000 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Crankshaft(26101749) |
|
Sell |
Engine components and accessories(26101700) |
|
Name |
Choi Young-Kil |
|
Title |
Owner |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
Not Applicable to the Sole Proprietorship |
|
Employees |
11 |
|
Formation |
Not Applicable to the Sole Proprietorship |
|
Bank Details |
Industrial Bank of Korea Kookmin Bank-Shiwha Industrial Complex |
|
Corporate Registered No. |
Not Applicable to the Sole Proprietorship |
|
Business Registered No. |
131-08-06191 |
|
Permit & Licenses |
N/A |
|
Shareholder Position |
The owner has 100% shares. |
|
Company History |
03/01/2000 Established as the present name 05/2006 Designated as a Venture Business |
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Owner |
Mr. |
Choi Young-Kil |
Male |
Korean |
03/01/2000 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
|
|
|
|
|
2011 |
2,300,000,000 |
|
|
|
2010 |
1,436,599,000 |
1,292,590,000 |
114,555,000 |
|
2009 |
1,213,512,000 |
1,039,249,000 |
96,804,000 |
|
2008 |
1,238,243,000 |
1,049,479,000 |
93,116,000 |
|
2007 |
|
|
|
|
2006 |
|
|
|
|
2005 |
|
|
|
|
2004 |
|
|
|
|
2003 |
|
|
|
The latest 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) |
Not Applicable to the Sole Proprietorship |
|
Paid-Up Capital(KRW) |
Not Applicable to the Sole Proprietorship |
|
Total Issued Shares |
Not Applicable to the Sole Proprietorship |
Balance Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
1,292,590,000 |
1,039,249,000 |
1,049,479,000 |
|
Current Assets |
899,668,000 |
772,456,000 |
708,912,000 |
|
-Quick Assets |
- |
- |
- |
|
-Inventories |
- |
- |
- |
|
Fixed Assets |
392,922,000 |
266,793,000 |
340,567,000 |
|
-Investment |
- |
- |
- |
|
-Tangibles |
- |
- |
- |
|
-Intangibles |
- |
- |
- |
|
Total Liabilities |
850,858,000 |
614,558,000 |
643,771,000 |
|
Current Liabilities |
86,402,000 |
103,562,000 |
55,798,000 |
|
Fixed Liabilities |
764,456,000 |
510,996,000 |
587,973,000 |
|
Capital Stock |
441,732,000 |
424,691,000 |
405,708,000 |
|
Capital Surplus |
- |
- |
- |
|
Profit Surplus |
- |
- |
- |
|
Capital Adjustment |
- |
- |
- |
|
Total Equity |
441,732,000 |
424,691,000 |
405,708,000 |
|
Liab. & Shareholder’s Equity |
1,292,590,000 |
1,039,249,000 |
1,049,479,000 |
Income Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
1,436,599,000 |
1,213,512,000 |
1,238,243,000 |
|
Cost of Sold Goods |
1,175,839,000 |
1,020,225,000 |
1,029,198,000 |
|
Gross Profit |
260,760,000 |
193,287,000 |
209,045,000 |
|
Selling & Admin. Expenses |
111,227,000 |
66,847,000 |
73,952,000 |
|
Operating Income |
149,533,000 |
126,440,000 |
135,093,000 |
|
Non-Operating Income |
764,456,000 |
510,996,000 |
587,973,000 |
|
Non-Operating Expenses |
34,978,000 |
29,636,000 |
41,977,000 |
|
Income Before Taxes |
114,555,000 |
96,804,000 |
93,116,000 |
|
Income Taxes Expenses |
- |
- |
- |
|
Net Income |
114,555,000 |
96,804,000 |
93,116,000 |
|
Main Products & Services |
Crank shaft Mold |
|
Competitors |
HYUPSHIN CRANK CO. 1547-4, SONGJEONG-DONG, GANGSEO-GU, BUSAN,
KOREA TEL:+82-51-832-1334 FAX:+82-51-832-1338 DAE SEUNG PRECISION INDUSTRY 107-20, SONGJEONG-RI, MADO-MYEON,
HWASEONG-SI, GYEONGGI-DO, KOREA TEL:+82-31-355-7321 FAX:+82-31-355-7325 |
Not Available.
Not Available.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.62.48 |
|
UK Pound |
1 |
Rs.99.66 |
|
Euro |
1 |
Rs.83.49 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.