|
Report Date : |
03.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
H1 GLOBAL CO., LTD. |
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|
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Registered Office : |
450-8, Dogok 2-dong, Gangnam-gu, Seoul, Korea |
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|
|
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Country : |
South Korea |
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|
|
|
Financials (as on) : |
31.12.2012 |
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|
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Date of Incorporation : |
09.09.2009 |
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Com. Reg. No.: |
220-87-87053 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Wholesale of Household Appliance |
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|
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No. of Employees : |
08 |
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 |
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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, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
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 the economy experienced sluggish growth because of market slowdowns in the United States, China, and the Eurozone. The incoming administration in 2013, following the December 2012 presidential election, is likely to face the challenges 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 half of GDP
|
Source
: CIA |
Basic
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Company Name |
H1 GLOBAL CO., LTD. (Korean Company Name : “(주)에이치원글로벌”) |
|
Registered
Address |
450-8, Dogok 2-dong, Gangnam-gu, Seoul, Korea |
|
Building |
|
|
Zip Code |
135-855 |
|
Tel |
+82-2-579-3312 |
|
Fax |
+82-2-579-0415 |
|
E-mail |
|
|
Website |
|
|
Trading Address |
450-8, Dogok 2-dong, Gangnam-gu, Seoul, Korea |
|
Tel |
+82-2-579-3312 |
|
Fax |
+82-2-579-0415 |
|
Tel |
|
|
Fax |
|
|
Type |
Import |
|
Industry |
Wholesale of Other Household Appliances n.e.c. |
|
Main Business |
Kitchenware, Office Accessories, Interior Products, Accessories,
Cosmetics, Plastic Products, Wood Products, Steel Products |
|
Sub Business |
|
|
Established
(mm/dd/yyyy) |
09/09/2009 |
Detailed Products
|
Activity |
Detailed
Products (UNSPSC) |
|
Sell |
Bath and body(53131600) |
|
Sell |
Furniture(56101500) |
|
Sell |
Domestic appliances(52140000) |
|
Sell |
Prepared and preserved foods(50190000) |
|
Sell |
Shoe accessories(53112000) |
|
Sell |
Domestic pet treatments and accessories and equipment(10111300) |
|
Sell |
Office supplies(44120000) |
|
Sell |
Floriculture and silviculture products(10160000) |
|
Sell |
Domestic disposable kitchenware(52151500) |
|
Sell |
Art(60121000) |
CEO’s
|
Name |
Lee Ho-Sung |
|
Address |
1-121, Yongsan-dong
2-ga, Yongsan-gu, Seoul, Korea |
|
Date of Birth |
02/19/1967 |
|
Title |
President
& CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
1,500,000,000 |
|||||||||||||||
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Employees |
8 |
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Formation |
Co., Ltd by Shares |
|||||||||||||||
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Bank Details |
Shinhan Bank Korea Exchange
Bank |
|||||||||||||||
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Corporate
Registered No. |
110111-4176297 |
|||||||||||||||
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Business
Registered No. |
220-87-87053 |
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Permit &
Licenses |
N/A |
|||||||||||||||
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Shareholder
Position |
|
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Company
History |
09/09/2009
Incorporated as the present name 07/20/2011
Increased the authorized shares to 1,000,000 shares from 240,000 shares 07/22/2011
Increased capital to 1,500,000,000 KRW from 300,000,000 KRW |
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|
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Management
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
President & CEO |
Mr. |
Lee Ho-Sung |
Male |
Korean |
12/31/2010 |
|
Director |
Mr. |
Park Jung-Boo |
Male |
Korean |
09/09/2009 |
|
Director |
Mr. |
Park Young-Joo |
Female |
Korean |
12/15/2009 |
|
Auditor |
Mr. |
Lee Jong-Duck |
Male |
Korean |
09/09/2009 |
|
Year / Unit :
KRW |
Sales |
Assets |
Net Income |
|
14,097,305,488 |
17,617,494,601 |
1,047,065,981 |
|
|
2011 |
2,089,483,066 |
13,715,392,240 |
149,506,459 |
|
2010 |
|
|
|
|
2009 |
|
|
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Financial Description
|
Authorized
Capital(KRW) |
5,000,000,000 |
|
Paid-Up
Capital(KRW) |
1,500,000,000 |
|
Total Issued
Shares |
300,000 |
|
Balance Sheet |
|||
|
Unit : Korean
Won |
As of
12/31/2012 |
As of
12/31/2011 |
As of
12/31/2010 |
|
Total Assets |
17,617,494,601 |
13,715,392,240 |
|
|
Current Assets |
4,414,216,405 |
911,993,948 |
|
|
-Quick Assets |
2,865,998,084 |
359,300,559 |
|
|
-Inventories |
1,548,218,321 |
552,693,389 |
|
|
Fixed Assets |
13,203,278,196 |
12,803,398,292 |
|
|
-Investment |
1,549,489,500 |
1,083,375,000 |
|
|
-Tangibles |
11,633,788,696 |
11,700,023,292 |
|
|
-Intangibles |
20,000,000 |
20,000,000 |
|
|
Total
Liabilities |
14,627,360,671 |
11,764,963,771 |
|
|
Current
Liabilities |
7,057,394,828 |
3,576,431,073 |
|
|
Fixed
Liabilities |
7,569,965,843 |
8,188,532,698 |
|
|
Capital Stock |
1,500,000,000 |
1,500,000,000 |
|
|
Capital
Surplus |
|
|
|
|
Profit Surplus |
1,490,133,930 |
450,428,469 |
|
|
Capital
Adjustment |
|
|
|
|
Total Equity |
2,990,133,930 |
1,950,428,469 |
|
|
Liab. &
Shareholder’s Equity |
17,617,494,601 |
13,715,392,240 |
|
|
Current
Liabilities |
7,057,394,828 |
3,576,431,073 |
|
|
Trade Payables |
729,221,202 |
128,963,321 |
|
|
Withholdings |
67,282,120 |
2,923,020 |
|
|
Account Payables |
39,890,930 |
- |
|
|
Accrued Expenses |
65,568,467 |
47,764,304 |
|
|
Short-Term Borrowings |
5,600,000,000 |
3,395,000,000 |
|
|
Accrued Income Tax |
255,432,109 |
1,780,428 |
|
|
Current Portion of Long-Term Debts |
300,000,000 |
- |
|
|
Fixed
Liabilities |
7,569,965,843 |
8,188,532,698 |
|
|
Long-Term Borrowings |
5,900,000,000 |
6,500,000,000 |
|
|
Leasehold Deposit Received |
1,620,000,000 |
1,680,000,000 |
|
|
Provision for Severance & Retirement |
139,965,843 |
8,532,698 |
|
|
Income Statement |
|||
|
Unit : Korean
Won |
As of
12/31/2012 |
As of
12/31/2011 |
As of
12/31/2010 |
|
Sales |
14,097,305,488 |
2,089,483,066 |
|
|
Cost of Sold
Goods |
11,821,227,543 |
1,416,398,703 |
|
|
Gross Profit |
2,276,077,945 |
673,084,363 |
|
|
Selling &
Admin. Expenses |
500,084,925 |
266,210,196 |
|
|
Operating
Income |
1,775,993,020 |
406,874,167 |
|
|
Non-Operating
Income |
209,919,538 |
73,723,565 |
|
|
Non-Operating
Expenses |
676,423,908 |
309,739,952 |
|
|
Income Before
Taxes |
1,309,488,650 |
170,857,780 |
|
|
Income Taxes
Expenses |
262,422,669 |
21,351,321 |
|
|
Net Income |
1,047,065,981 |
149,506,459 |
|
|
Cash Flows |
|||
|
Unit : Korean
Won |
As of
12/31/2012 |
As of
12/31/2011 |
As of
12/31/2010 |
|
Cash Flows
from Operating |
-1,461,808,302 |
73,334,793 |
|
|
-Net Income |
1,047,065,981 |
149,506,459 |
|
|
-Exp. without Cash
Outflow |
123,589,172 |
48,737,132 |
|
|
-Revenue
without Cash Inflows |
-2,089,960 |
-28,906 |
|
|
-Changes in
Asset/ & Liability |
-2,630,373,495 |
-124,879,892 |
|
|
Cash Flows
from Investing |
-485,114,500 |
-10,403,941,800 |
|
|
-Cash Inflow from
Investing |
- |
- |
|
|
-Cash Outflows
for Investing |
-485,114,500 |
-10,403,941,800 |
|
|
Cash Flows
from Financing |
1,845,000,000 |
10,465,000,000 |
|
|
-Cash Inflows
from Financing |
15,420,000,000 |
13,770,000,000 |
|
|
-Cash Outflows
from Financing |
-13,575,000,000 |
-3,305,000,000 |
|
|
Increase/Decrease
in Cash |
-101,922,802 |
134,392,993 |
|
|
Cash at the
Beginning of Year |
150,471,348 |
16,078,355 |
|
|
Cash at the
End of Year |
48,548,546 |
150,471,348 |
|
Products,
Technologies, Services Description
|
Main Products
& Services |
Kitchenware, Office Accessories, Interior Products,
Accessories, Cosmetics, Plastic Products, Wood Products, Steel Products |
|
Detailed
Products Spec. |
|
|
Technologies
Acquired |
|
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
HANIL MANPOWER CO., LTD.(110111-4129098) HAN WELL CO., LTD.(110111-0562333) DAISO ASUNG
CO., LTD.(110111-0832736) DAEA ASSETS
CO., LTD.(134811-0097396) |
|
Overseas
Office |
|
|
Cooperative
Enterprise |
-Insured
Company LOTTE NON-LIFE INSURANCE CO., LTD.(110111-0014459) |
Sales by Region
(Activity & Markets)
The Subject
imports from China, India, Vietnam and Thailand.
Court Action
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.48 |
|
|
1 |
Rs.102.95 |
|
Euro |
1 |
Rs.84.60 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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.