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Report Date : |
27.02.2014 |
IDENTIFICATION DETAILS
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Name : |
INTECO STEEL CO., LTD. |
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Formerly Known As : |
KOTASCO CO., LTD. |
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Registered Office : |
17, Teheran-ro 86-gil, Gangnam-gu, Seoul, Korea, Rm. 401, Daeyeon Bldg., Zip Code 135-845 |
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Country : |
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Date of Incorporation : |
06.03.2002 |
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Com. Reg. No.: |
201-81-71771 |
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Legal Form : |
Co., Ltd by shares |
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Line of Business : |
Wholesaler of Basic Metals including Steel, Tinplate Steel, Prepainted Steel & Aluminized Steel |
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No. of Employees |
04 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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
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Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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South Korea |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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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.
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Source : CIA |
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Company
Name |
INTECO STEEL
CO., LTD. (Ex. Company
Name : INTECO S&P CO., LTD., “인테코에스앤피(주)”) (Korean Company Name : “(주)인테코스틸”) |
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Registered Address |
17, Teheran-ro 86-gil, Gangnam-gu, Seoul, Korea |
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Building |
Rm.
401, Daeyeon Bldg. |
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Zip Code |
135-845 |
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Tel |
+82-2-564-8836 |
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Fax |
+82-2-564-8861 |
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E-mail |
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Trading
Address |
Rm. 401, Daeyeon Bldg., 17, Teheran-ro
86-gil, Gangnam-gu, Seoul, Korea (Old Address System : Rm. 401, Daeyeon Bldg., 943-30, Daechi 3-dong,
Gangnam-gu, Seoul, Korea) |
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Tel |
+82-2-564-8836 |
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Fax |
+82-2-564-8861 |
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Type |
Export |
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Industry |
Wholesale
of Basic Metals |
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Main Business |
Steel,
Tinplate Steel, Prepainted Steel & Aluminized Steel |
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Sub
Business |
Synthetic Resin Proceeding |
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Established (mm/dd/yyyy) |
03/06/2002 |
The Subject Company
occupies the premises of registered HQ address by leasing base.
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Steel
plate(30102204) |
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Sell |
Pipe(40142100) |
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Name |
Jeong
Yong-Joon |
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Address |
Rm.421-301, 92, Seohyeon-dong,
Bundang-gu, Seongnam-si, Gyeonggi-do, Korea |
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Date of Birth |
02/08/1963 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
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Capital (KRW) |
500,000,000 |
|
Employees |
4 |
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Formation |
Co.,
Ltd by shares |
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Bank Details |
Industrial Bank of Korea-Trade Center
Branch |
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Corporate Registered No. |
110111-2462846 |
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Business Registered No. |
201-81-71771 |
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Permit & Licenses |
Int’l
Trade No.: 45130092 |
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Shareholder Position |
N/A |
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Company History |
03/06/2002 Incorporated as KOTASCO CO.,
LTD. 10/31/2003 Changed company name to INTECO STEEL CO., LTD. 10/31/2003 Moved to the present HQ address
from 169-2, Namchang-dong, Jung-gu, Seoul, Korea 12/04/2007 Increased the authorized shares to 100,000 shares from
40,000 shares 12/05/2007 Increased capital to 200,000,000 KRW from 50,000,000 KRW 10/08/2008 Changed company name to INTECO
S&P CO., LTD. 12/19/2008 Increased capital to 350,000,000
KRW from 200,000,000 KRW 12/29/2008 Increased the authorized shares
to 900,000 shares from 100,000 shares 12/30/2008 Increased capital to 500,000,000
KRW from 350,000,000 KRW 09/28/2009 Changed company name to the
present name 11/2010 Awarded US$ 20 Million Export top
Prize 11/2011 Awarded US$ 30 Million Export top Prize |
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Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
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President
& CEO |
Mr. |
Jeong Yong-Joon |
Male |
Korean |
06/07/2004 |
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Director |
M/S. |
Kim Hye-Ryeon |
Female |
Korean |
06/20/2013 |
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Auditor |
M/S. |
Yoon Soo-Kyung |
Female |
Korean |
03/12/2010 |
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Year / Unit
: KRW |
Sales |
Assets |
Net Income |
|
32,256,000,000 |
|
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|
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2011 |
41,750,000,000 |
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2010 |
41,800,000,000 |
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2009 |
23,745,760,000 |
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399,330,000 |
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2008 |
15,429,270,000 |
7,332,000,000 |
242,750,000 |
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2007 |
9,532,000,000 |
1,652,000,000 |
18,100,000 |
|
2006 |
14,571,000,000 |
1,728,000,000 |
25,000,000 |
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2005 |
11,949,000,000 |
2,218,000,000 |
33,000,000 |
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2004 |
9,875,000,000 |
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2003 |
758,000,000 |
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The full financials
are not available, and the Subject Company does not have any obligations to
release its financials to the public.
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Authorized Capital(KRW) |
4,500,000,000 |
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Paid-Up Capital(KRW) |
500,000,000 |
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Total Issued Shares |
100,000 |
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Main Products & Services |
Steel Tinplate Steel Prepainted Steel Aluminized Steel Synthetic Resin Proceeding |
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Competitors |
HIHO METAL CO., LTD. 8TH FL., DONGNAM BLDG., 588-19, SINSA-DONG,
GANGNAM-GU, SEOUL, KOREA TEL:+82-2-514-6671 FAX:+82-2-514-6489 DAEHAN METALS CO., LTD. 1769-2, SONGJEONG-DONG, GANGSEO-GU, BUSAN,
KOREA TEL:+82-51-974-6002 FAX:+82-51-831-9008 BUSAN STEEL CO., LTD. 720-4, HAKJANG-DONG, SASANG-GU, BUSAN,
KOREA TEL:+82-51-325-1131~4 FAX:+82-51-324-6440 |
(Activity & Markets)
The Subject exports
to China, Indonesia, Iran, Kazakhstan, Philippines and Singapore.
Not Available.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.94 |
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UK Pound |
1 |
Rs.103.31 |
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Euro |
1 |
Rs.85.11 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to
overcome financial difficulties seems comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
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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.