|
Report Date : |
14.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
IMS Corporation |
|
|
|
|
Registered Office : |
363, Samil-daero, Jung-gu, Seoul, Korea |
|
|
|
|
Country : |
South Korea |
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|
|
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Date of Incorporation : |
11.02.2010 |
|
|
|
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Com. Reg. No.: |
130-86-49176 |
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|
|
|
Legal Form : |
Co., Ltd., by Shares |
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|
|
|
Line of Business : |
Wholesale of Other Chemical Materials and Chemical Products |
|
|
|
|
No. of Employees |
4 |
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 |
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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
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 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.
|
Source
: CIA |
|
Company
Name |
IMS CORPORATION |
|
Registered Address |
363, Samil-daero, Jung-gu, Seoul, Korea (Old Address System : 1, Janggyo-dong,
Jung-gu, Seoul, Korea) |
|
Building |
Rm. 2210~2011, Janggyo Bldg. |
|
Zip Code |
100-760 |
|
Tel |
+82-2-588-8818 |
|
Fax |
+82-2-588-9384 |
|
E-mail |
|
|
Website |
|
|
|
|
|
Trading Address |
Rm.403,
Sunwoo Bldg., 39, Banpo-daero 28-gil, Seocho-gu, Seoul, Korea (Old Address
System : Rm.403, Sunwoo Bldg., 1556-9, Seocho-dong, Seocho-gu, Seoul, Korea ) |
|
Tel |
+82-70-8899-9384 |
|
Fax |
+82-2-588-9384 |
|
|
|
|
Type |
Export |
|
Industry |
Wholesale of Other Chemical Materials and Chemical Products |
|
Main Business |
Caustic Soda, Glycerine |
|
|
|
|
Established (mm/dd/yyyy) |
02/11/2010 |
The Subject Company
occupies the premises of registered HQ address by leasing base.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Inorganic hydroxides(12352305) |
|
Sell |
Chemistry reagents or solutions(41116105) |
|
Sell |
Chemicals including Bio Chemicals and Gas
Materials(12000000) |
|
Name |
Kim Min-Sang |
|
Address |
Suite 204-301, 300, Omok-ro, Yangcheon-gu, Seoul,
Korea |
|
Date of Birth |
03/20/1974 |
|
Title |
Representative Director |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
300,000,000 |
|
Employees |
4 |
|
Formation |
Co., Ltd., by Shares |
|
Bank Details |
Korea Exchange Bank-Nonhyun Nam Branch |
|
Corporate Registered No. |
121111-0198599 |
|
Business Registered No. |
130-86-49176 |
|
Permit & Licenses |
N/A |
|
Shareholder Position |
N/A |
|
Company History |
02/11/2010 Incorporated as the present name 01/27/2012 Increased the authorized shares
to 1,000,000 shares from 80,000 shares 01/28/2012 Increased capital to 200,000,000
KRW from 100,000,000 KRW 05/25/2012 Moved to the present HQ address
from Samkyung Bldg.,167, Nae-dong, Ojeong-gu, Bucheon-si, Gyeonggi-do,
Korea 10/30/2013 Increased capital to 300,000,000
KRW from 200,000,000 KRW |
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Representative Director |
Mr. |
Kim Min-Sang |
Male |
Korean |
02/11/2010 |
|
Auditor |
M/S. |
Kim Ji-Young |
Female |
Korean |
02/11/2010 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
|
|
|
|
|
2012 |
46,000,000,000 |
|
|
|
2011 |
28,964,000,000 |
3,458,000,000 |
375,000,000 |
|
2010 |
12,870,000,000 |
595,000,000 |
141,000,000 |
The full financials
are not available, and the Subject Company does not have any obligations to
release its financials to the public.
|
Authorized Capital(KRW) |
5,000,000,000 |
|
Paid-Up Capital(KRW) |
300,000,000 |
|
Total Issues Shares |
60,000 |
|
Main Products & Services |
Chemical Products |
|
Suppliers |
SK ENERGY CO., LTD.(110111-3710385) SKC LTD(130111-0001585) HONAM PETRO CHEMICAL CORPORATION(110111-0193196) |
|
Customers |
SAMSUNG ELECTRONICS CO., LTD.( 130111-0006246) MARUBENI CORPORATION(JAPAN) |
|
Competitors |
JMC CORPORATION 125, HWASAN-RI, ONSAN-EUP, ULJU-GUN, ULSAN,
KOREA TEL:+82-52-231-5741 FAX:+82-52-238-9210 KOC CO., LTD. 749-4, HWASAN-RI, ONSAN-EUP, ULJU-GUN,
ULSAN, KOREA TEL:+82-52-238-5885 FAX:+82-52-238-5886 KWANGJIN CHEMICAL CO., LTD. 1DA-306, SIHWA INDUSTRIAL COMPLEX, 1245-5, JEONGWANG
3-DONG, SIHEUNG-SI, GYEONGGI-DO, KOREA TEL:+82-31-498-4555 FAX:+82-31-498-4557 |
---
The Subject deals
with the companies in Japan.
Not Available.
-------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.27 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.83.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
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.