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Report Date : |
06.04.2014 |
IDENTIFICATION DETAILS
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Name : |
S&S CHEMICAL CO., LTD. |
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Formerly Known as: |
WHITE CHEMICAL CO., LTD. |
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Registered Office : |
80-88, Sangdong-ro 375beon-gil,
Sangdong-myeon, Gimhae-si, Gyeongsangnam-do, Korea, Zip Code 621-816 |
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Country : |
South Korea |
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Date of Incorporation : |
18.04.2006 |
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Com. Reg. No.: |
621-81-66735 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Wholesaler of Dyes, Pigments and Related Products Subject product range includes Raw
materials of paint, ink and plastics |
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No. of Employees |
06 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 – december 01, 2013
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Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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South korea |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 and 2013 the
economy experienced sluggish growth because of market slowdowns in the United
States, China, and the Eurozone. The administration in 2014 is likely to face
the challenge 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 about half of GDP.
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Source
: CIA |
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Company Name |
S&S CHEMICAL
CO., LTD. (English Company
Name : SILVERSTAR CHEMICAL CO., LTD.) (Korean Company Name : “실버스타케미칼(주)”) |
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Registered Address |
80-88, Sangdong-ro 375beon-gil,
Sangdong-myeon, Gimhae-si, Gyeongsangnam-do, Korea |
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Zip Code |
621-816 |
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Tel |
+82-55-337-8841~2 |
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Fax |
+82-55-386-8840 |
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E-mail |
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Website |
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Trading Address |
80-88,
Sangdong-ro 375beon-gil, Sangdong-myeon, Gimhae-si, Gyeongsangnam-do, Korea (Old Address System : 524, Ugye-ri,
Sangdong-myeon, Gimhae-si, Gyeongsangnam-do, Korea) |
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Tel |
+82-55-337-8841~2 |
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Fax |
+82-55-386-8840 |
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Type |
Export/Import |
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Industry |
Wholesaler
of Dyes, Pigments and Related Products |
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Main Business |
Pigment |
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Established (mm/dd/yyyy) |
04/18/2006 |
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Raw
materials of paint, ink and plastics |
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Name |
Jung Chul-Gyeong (Mobile :
+82-10-6248-8840) |
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Address |
1661, Banyeo-dong, Haeundae-gu, Busan, Korea |
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Date of Birth |
09/27/1972 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
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Capital (KRW) |
50,000,000 |
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Employees |
6 |
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Formation |
Co.,
Ltd by Shares |
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Bank Details |
N/A |
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Corporate Registered No. |
234111-0041510 |
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Business Registered No. |
621-81-66735 |
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Permit & Licenses |
N/A |
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Shareholder Position |
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Company History |
04/18/2006 Incorporated as WHITE CHEMICAL
CO., LTD. 05/15/2007 Changed company name to the present name 11/22/2010
Moved to the present HQ address from 633-19, Bukjeong-dong, Yangsan-si,
Gyeongsangnam-do, Korea |
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Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
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President
& CEO |
Mr. |
Jung Chul-Gyeong |
Male |
Korean |
04/18/2006 |
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Director |
M/S. |
Do Jung-Hee |
Female |
Korean |
03/10/2008 |
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Auditor |
M/S. |
Kang Soo-Jin |
Female |
Korean |
03/10/2008 |
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Year / Unit
: KRW |
Sales |
Assets |
Net Income |
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2009 |
7,400,500,000 |
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307,480,000 |
The latest & full
financials are not available, and the Subject Company does not have any
obligations to release its financials to the public.
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Authorized Capital(KRW) |
200,000,000 |
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Paid-Up Capital(KRW) |
50,000,000 |
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Total Issued Shares |
5,000 |
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Main Products & Services |
Raw materials of paint, ink and plastics |
(Activity & Markets)
The Subject imports the raw materials of paint,
ink and plastics from China, India and UK, and supplies to the manufacturers in
Korea.
Not available.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.32 |
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UK Pound |
1 |
Rs.100.04 |
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Euro |
1 |
Rs.82.65 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to
overcome financial difficulties seems comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.