MIRA INFORM REPORT

 

 

Report Date :

23.12.2014

 

IDENTIFICATION DETAILS

 

Name :

STARWOOD CO., LTD.

 

 

Registered Office :

190-1, Sinheung-ro, Wonmi-gu, Bucheon-si, Gyeonggi-do, Rm.202-801, We`ve The State, 420-776

 

 

Country :

South Korea

 

 

Date of Incorporation :

08.01.2004

 

 

Com. Reg. No.:

126-81-76494

 

 

Legal Form :

Co., Ltd by Shares

 

 

Line of Business :

Wholesale of Wood and Builders' Joinery Wood

 

 

No. of Employees :

3

 

 

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

 

 

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

STARWOOD CO., LTD.

Registered Address

190-1, Sinheung-ro, Wonmi-gu, Bucheon-si, Gyeonggi-do, Korea

Building

Rm.202-801, We`ve The State

Zip Code

420-776

Tel

+82-32-620-5871

Fax

+82-32-620-5870

E-mail

 

Website

 

Trading Address

Rm.202-801, We`ve The State,190-1, Sinheung-ro, Wonmi-gu, Bucheon-si, Gyeonggi-do, Korea

(Old Address System : Rm.202-801, We`ve The State, 1107, Jung 2-dong, Wonmi-gu, Bucheon-si, Gyeonggi-do, Korea)

Tel

+82-32-620-5871

Fax

+82-32-620-5870

 

 

Type

Import

Industry

Wholesale of Wood and Builders' Joinery Wood

  Main Business

Plywood, Lamin Board, Block Board, Wooden Floor

 

 

Established (mm/dd/yyyy)

01/08/2004

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Plywood(11121609)

Sell

Wood(11121600)

Sell

Wallboard(30161501)

Sell

Wood(11121600)

Sell

Flooring(30161700)

Sell

Particleboard(11121611)

Sell

Wall finishing materials(30161500)

 

 

CEO’s

 

Name

Choi Byung-Wook

Address

Rm.202-801, We`ve The State,190-1, Sinheung-ro, Wonmi-gu, Bucheon-si, Gyeonggi-do, Korea

Date of Birth

03/15/1966

Title

President & CEO

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

400,000,000

Employees

3

Formation

Co., Ltd by Shares

Bank Details

Kookmin Bank-Mok Dong Corporate Finance Branch

Corporate Registered No.

135711-0052250

Business Registered No.

126-81-76494

Permit & Licenses

N/A

Shareholder Position

N/A

Company History

01/08/2004 Incorporated as the present anme

02/09/2009 Moved to the present HQ address from 129, Songhyeon-dong, Dong-gu, Incheon, Korea

 

 

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

Mr.

Choi Byung-Wook

Male

Korean

03/21/2008

Director

Mr.

Choi Byung-Hee

Male

Korean

01/08/2007

Auditor

M/S.

Song Im-Mi

Female

Korean

07/27/2005

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2013

 

 

 

2012

 

 

 

2011

 

 

 

2010

 

 

 

2009

348,000,000

197,000,000

23,000,000

2008

4,273,000,000

1,371,000,000

-630,000,000

2007

4,665,000,000

1,021,000,000

83,000,000

2006

4,259,426,000

1,456,615,000

128,548,000

2005

3,384,000,000

781,000,000

106,000,000

2004

2,311,000,000

336,000,000

75,000,000

The latest & full 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)

1,600,000,000

Paid-Up Capital(KRW)

400,000,000

Total Issued Shares

80,000

 

 

Products, Technologies, Services Description

 

Main Products & Services

Plywood, Lamin Board, Block Board, Wooden Floor

Detailed Products Spec.

 

Technologies Acquired

 

 

 

Trade Partners & Competitors

 

Competitors

SHINHWA INTERNATIONAL INC.

A-511, JEONGGWANG SEA PALACE, 7-308, SINHEUNGDONG 3-GA, JUNG-GU, INCHEON, KOREA

TEL:+82-32-256-7600  FAX:+82-32-256-7603

 

PEOPLE & FLOORING CO., LTD.

2ND FL., SUNHO BLDG., 283, SANGIL-DONG, GANGDONG-GU, SEOUL, KOREA

TEL:+82-2-3391-0444  FAX:+82-2-3391-0231

 

STAR WOOD CO., LTD.

202-801, WE`VE THE STATE, 1107, JUNG 2-DONG, WONMI-GU, BUCHEON-SI, GYEONGGI-DO, KOREA

TEL:+82-32-620-5871  FAX:+82-32-620-5870

 

 

Sales by Region (Activity & Markets)

 

Not Available.

 

 

Court Action

 

Not Available.

 

 

News Clipping

 

-------

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.18

UK Pound

1

Rs.98.85

Euro

1

Rs.77.42

 

INFORMATION DETAILS

 

Analysis Done by :

SUM

 

 

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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