MIRA INFORM REPORT

 

 

Report Date :

10.12.2014

 

IDENTIFICATION DETAILS

 

Name :

RMK CO., LTD.

 

 

Registered Office :

25, Chunhwanonggongdanji-Gil, Bubuk-Myeon, Miryang-Si, Gyeongsangnam-Do, Korea

 

 

Country :

South Korea

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

06.04.2011

 

 

Com. Reg. No.:

615-81-83200

 

 

Legal Form :

Co., Ltd by Shares

 

 

Line of Business :

Manufacture of Rolled, Drawn and Folded Products of Copper

 

 

No. of Employees :

20

 

 

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 :

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 – 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


Basic Information

 

Company Name

RMK CO., LTD.

Registered Address

25, Chunhwanonggongdanji-gil, Bubuk-myeon, Miryang-si, Gyeongsangnam-do, Korea

Building

--

Zip Code

627-853

Tel

+82-55-353-5827

Fax

+82-55-354-5829

E-mail

webmaster@raremetal.co.kr;rm96@raremetal.co.kr

Website

www.rmktube.co.kr

 

 

Trading Address

25, Chunhwanonggongdanji-gil, Bubuk-myeon, Miryang-si, Gyeongsangnam-do, Korea

(Old Address System : 840, Chunhwa-ri, Bubuk-myeon, Miryang-si, Gyeongsangnam-do, Korea)

Tel

+82-55-353-5827

Fax

+82-55-354-5829

 

 

Type

Export/Import

Industry

Manufacture of Rolled, Drawn and Folded Products of Copper

  Main Business

Copper Tube, Fin Tube, Bare Tubes

 

 

Established (mm/dd/yyyy)

04/06/2011

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Copper tubing(31231302)

Sell

Copper pipe(40142110)

 

 

CEO’s

 

Name

Na Han-Sung

Address

Suite 502-201, 90, Convensia-daero, Yeonsu-gu, Incheon, Korea

Date of Birth

12/25/1960

Title

Representative Director

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

50,000,000

Employees

20

Formation

Co., Ltd by Shares

Venture Business

Bank Details

N/A

Corporate Registered No.

1955110-136410

Business Registered No.

615-81-83200

Permit & Licenses

N/A

Shareholder Position

N/A

Company History

04/06/2011 Incorporated as the present name

05/22/2012 Designated as a Venture Business

10/10/2012 Moved to the present HQ address from 79-6, Anyang-ri, Saengnim-myeon, Gimhae-si, Gyeongsangnam-do, Korea

 

 

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

Representative Director

Mr.

Na Han-Sung

Male

Korean

04/06/2011

Director

Mr.

Kim Min-Tae

Male

Korean

06/30/2014

Auditor

M/S.

Park Eun-Joo

Female

Korean

04/06/2011

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2013

3,817,933,000

12,212,081,000

-2,667,134,000

2012

1,646,509,000

11,504,278,000

-1,087,280,000

2011

3,974,415,000

993,544,000

37,965,000

 

 

Financial Description

 

Authorized Capital(KRW)

200,000,000

Paid-Up Capital(KRW)

50,000,000

Total Issued Shares

5,000

 

Balance Sheet

Unit : Korean Won

As of 12/31/2013

As of 12/31/2012

As of 12/31/2011

Total Assets

12,212,081,000

11,504,278,000

993,544,000

Current Assets

 

 

 

-Quick Assets

 

 

 

-Inventories

 

 

 

Fixed Assets

 

 

 

-Investment

 

 

 

-Tangibles

 

 

 

-Intangibles

 

 

 

Total Liabilities

15,894,382,000

12,519,445,000

905,579,000

Current Liabilities

 

 

 

Fixed Liabilities

 

 

 

Capital Stock

50,000,000

50,000,000

50,000,000

Capital Surplus

 

 

 

Profit Surplus

 

 

 

Capital Adjustment

 

 

 

Total Equity

-3,682,301,000

-1,015,167,000

87,965,000

Liab. & Shareholder’s Equity

12,212,081,000

11,504,278,000

993,544,000

 

Income Statement

Unit : Korean Won

As of 12/31/2013

As of 12/31/2012

As of 12/31/2011

Sales

3,817,933,000

1,646,509,000

3,974,415,000

Cost of Sold Goods

 

 

 

Gross Profit

 

 

 

Selling & Admin. Expenses

 

 

 

Operating Income

-2,270,818,000

-854,058,000

42,729,000

Non-Operating Income

 

 

 

Non-Operating Expenses

 

 

 

Income Before Taxes

 

 

 

Income Taxes Expenses

 

 

 

Net Income

-2,667,134,000

-1,087,280,000

37,965,000

 

 

Products, Technologies, Services Description

 

Main Products & Services

Copper Tube, Pin Tube

 

 

Trade Partners & Competitors

 

Competitors

TAEWOO METAL CO., LTD.

5DA-201-11, SIHWA INDUSTRIAL COMPLEX, 664-10, SEONGGOK-DONG, DANWON-GU, ANSAN-SI, GYEONGGI-DO, KOREA

TEL:+82-31-498-8145~8  FAX:+82-31-498-8149

 

SAMPO INDUSTRIAL CO., LTD.

2ND FL., SAMPO BLDG., 40-2, OGEUM-DONG, SONGPA-GU, SEOUL, KOREA

TEL:+82-2-573-5151  FAX:+82-2-571-5156

 

KUM WHAN INC.

RA-1728, JUNGANG CIRCULATION COMPLEX, 1258, GURO 2-DONG, GURO-GU, SEOUL, KOREA

TEL:+82-2-2617-3073  FAX:+82-2-2684-3071

 

 

Sales by Region (Activity & Markets)

 

Not Available.

 

 

Court Action

 

Not Available.

 

 

News Clipping

 

---------

 


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.61.88

UK Pound

1

Rs.96.90

Euro

1

Rs.76.29

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

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%)

 

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