|
Report Date : |
06.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
ECO MASTER CO., LTD. |
|
|
|
|
Formerly Known As : |
MASTER PAPER CO., LTD. |
|
|
|
|
Registered Office : |
46, Seokpyeong-Ro 184beon-Gil, Haseong-Myeon, Gimpo-Si, Gyeonggi-Do, Zip
Code 415-885 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
14.03.2005 |
|
|
|
|
Com. Reg. No.: |
129-81-83242 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
· Engaged in Selling Industrial Paper (Kraft Paper) Wholesaler
of Materials for Recycling and Other Specialized Goods such as Paper, Paper String Products, Bio Plastic, Eco friendly Coated Paper & Food Waste Decomposer |
|
|
|
|
No of Employees : |
35 |
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 : |
Slow but 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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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. South 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. South 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-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, dominance of large conglomerates (chaebols), and heavy reliance on exports, which comprise
about half of GDP.
|
Source : CIA |
|
Company
Name |
ECO MASTER CO., LTD. (Korean Company Name : “(주)에코마스터”) |
|
Registered Address |
46, Seokpyeong-ro
184beon-gil, Haseong-myeon, Gimpo-si,
Gyeonggi-do, Korea (Old Address System : 221-13, Seoktan-ri, Haseong-myeon, Gimpo-si, Gyeonggi-do, Korea) |
|
Zip Code |
415-885 |
|
Tel |
+82-31-987-6928 |
|
Fax |
+82-31-998-4599 |
|
E-mail |
|
|
Website |
|
|
Trading
Address |
Rm.1011, Seocho
World, 19, Seoun-ro, Seocho-gu,
Seoul, Korea (Old Address System : Rm.1011, Seocho World,
1355-3, Seocho 2-dong, Seocho-gu,
Seoul, Korea) |
|
Tel |
+82-2-3486-7333 |
|
Fax |
+82-2-3486-7334 |
|
Other
Address |
119, Hyundaikia-ro
556beon-gil, Paltan-myeon, Hwaseong-si,
Gyeonggi-do, Korea (Old Address System : 16-10, Hajeo-ri, Paltan-myeon, Hwaseong-si, Gyeonggi-do, Korea) |
|
Tel |
+82-31-454-9690 |
|
Fax |
+82-31-454-9694 |
|
Type |
Export |
|
Main Business |
· Engaged in Selling Industrial Paper (Kraft Paper) Wholesaler
of Materials for Recycling and Other Specialized Goods such as Paper, Paper String Products, Bio Plastic, Eco friendly Coated & Food Waste Decomposer |
|
Established (mm/dd/yyyy) |
03/14/2005 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Coated
papers(14121800) |
|
Sell |
Silicone
coated papers(14121804) |
|
Name |
Lee Poong-Woo |
|
Address |
Suite 7-709, 2914, Nambusunhwan-ro,
Gangnam-gu, Seoul, Korea |
|
Date of Birth |
07/22/1958 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
1,000,000,000 |
|||||||||||||||
|
Employees |
35 |
|||||||||||||||
|
Formation |
Co.,
Ltd by Shares |
|||||||||||||||
|
Bank Details |
Industrial Bank of Korea-Jongro Branch |
|||||||||||||||
|
Corporate Registered No. |
110111-3187021 |
|||||||||||||||
|
Business Registered No. |
129-81-83242 |
|||||||||||||||
|
Permit & Licenses |
03/2012 ISO9001 03/2012 14001 Int’l
Trade No.: 45327588 |
|||||||||||||||
|
Shareholder Position |
|
|||||||||||||||
|
Company History |
03/14/2005 Incorporated as MASTER PAPER
CO., LTD. 01/17/2012 Moved to the present HQ address
from 1337-2, Seocho 2-dong, Seocho-gu,
Seoul, Korea 09/14/2012 Changed company name to the
present name 11/11/2012 Increased capital to
1,000,000,000 KRW from 800,000,000 KRW 11/11/2012 Acquired SEHAN P&TECH CO., LTD. |
|||||||||||||||
|
|
|
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
President
& CEO |
Mr. |
Lee Poong-Woo |
Male |
Korean |
11/11/2012 |
|
Director |
Mr. |
Sung Dae-Young |
Male |
Korean |
11/24/2014 |
|
Director |
Mr. |
Kim Jin-Ho |
Male |
Korean |
11/24/2014 |
|
Auditor |
Mr. |
Cho Kyu7ng-Tae |
Male |
Korean |
11/24/2014 |
|
Year / Unit
: KRW |
Sales |
Assets |
Net Income |
|
2013 |
22,059,429,000 |
12,666,253,000 |
372,216,000 |
|
2012 |
20,571,000,000 |
7,042,000,000 |
419,000,000 |
|
2011 |
14,378,839,000 |
5,354,524,000 |
213,026,000 |
|
2010 |
8,298,000,000 |
N/A |
70,000,000 |
|
Authorized Capital(KRW) |
1,500,000,000 |
|
Paid-Up Capital(KRW) |
1,000,000,000 |
|
Total Issued Shares |
200,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of
12/31/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Total Assets |
12,666,253,000 |
7,042,000,000 |
5,354,524,000 |
|
Current Assets |
6,007,956,000 |
3,067,000,000 |
3,969,808,000 |
|
-Quick
Assets |
- |
- |
- |
|
-Inventories |
- |
- |
- |
|
Fixed
Assets |
6,658,297,000 |
3,975,000,000 |
1,384,716,000 |
|
-Investment |
- |
- |
- |
|
-Tangibles |
- |
- |
- |
|
-Intangibles |
- |
- |
- |
|
Total Liabilities |
10,150,181,000 |
4,898,000,000 |
4,222,380,000 |
|
Current Liabilities |
6,750,181,000 |
4,898,000,000 |
4,222,380,000 |
|
Fixed Liabilities |
3,400,000,000 |
- |
- |
|
Capital Stock |
1,000,000,000 |
1,000,000,000 |
500,000,000 |
|
Capital Surplus |
- |
- |
200,000,000 |
|
Profit Surplus |
1,518,259,000 |
1,146,000,000 |
434,331,000 |
|
Capital Adjustment |
-2,187,000 |
-2,000,000 |
-2,187,000 |
|
Total Equity |
2,516,072,000 |
2,144,000,000 |
1,132,144,000 |
|
Liab. & Shareholder’s Equity |
12,666,253,000 |
7,042,000,000 |
5,354,524,000 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of
12/31/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Sales |
22,059,429,000 |
20,571,000,000 |
14,378,839,000 |
|
Cost of Sold Goods |
18,785,809,000 |
18,983,000,000 |
13,375,896,000 |
|
Gross Profit |
3,273,620,000 |
1,588,000,000 |
1,002,943,000 |
|
Selling & Admin. Expenses |
2,612,983,000 |
944,000,000 |
609,343,000 |
|
Operating Income |
660,637,000 |
644,000,000 |
393,600,000 |
|
Non-Operating Income |
1,871,000 |
17,000,000 |
48,091,000 |
|
Non-Operating Expenses |
221,228,000 |
175,000,000 |
193,794,000 |
|
Income Before Taxes |
441,280,000 |
486,000,000 |
247,897,000 |
|
Income Taxes Expenses |
69,064,000 |
67,000,000 |
34,871,000 |
|
Net Income |
372,216,000 |
419,000,000 |
213,026,000 |
|
Main Products & Services |
Paper, Paper String Products, Bio Plastic, Eco friendly
Coated, Food Waste Decomposer |
|
Suppliers |
TIGER FOREST GROUP(CHINA) MOORIM SP CO., LTD.(170111-0001082) HANKUK
PAPER MFG CO., LTD.(110111-0002818) |
|
Customers |
SAMSUNG C&T CORPORATION(110111-0002975) YS PAPER CO., LTD.(KOREA) DONGYANG PAPER INDUSTRIES CO., LTD.(KOREA) P&G
TECH CO., LTD.(KOREA) |
|
Competitors |
DAEKYUNG PAPER & PULP RM. 907, KOREA BUSINESS CENTER, 1338-21,
SEOCHO 2-DONG, SEOCHO-GU, SEOUL, KOREA TEL:+82-2-2055-0161~2 FAX:+82-2-2055-0168 NAMKYEONG CO., LTD. 37-5, SANGNI-DONG, SEO-GU, DAEGU, KOREA TEL:+82-53-567-0781 FAX:+82-53-567-0783 DAELIM CO., LTD. 514-9, MUNBAL-RI, GYOHA-EUP, PAJU-SI,
GYEONGGI-DO, KOREA TEL:+82-31-955-2771 FAX:+82-31-955-2776 |
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
KRAFT KOREA CO., LTD.(284911-0092913) |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.85 |
|
UK Pound |
1 |
Rs.96.73 |
|
Euro |
1 |
Rs.76.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.