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Report Date : |
03.01.2014 |
IDENTIFICATION DETAILS
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Name : |
SINIL INDUSTRY CORPORATION CO., LTD. |
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Registered Office : |
146, Seonyu-ro, Yeongdeungpo-gu, |
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Country : |
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Date of Incorporation : |
01.11.1974 |
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Com. Reg. No.: |
107-81-13974 |
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Legal Form : |
Co., Ltd by shares |
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Line of Business : |
Manufacture of Other Insulated Wire and Cable |
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No. of Employees : |
10 |
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 : |
Slow but correct |
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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 – 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 |
|
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
|
Company Name |
SINIL INDUSTRY CORPORATION CO., LTD. |
|
Registered Address |
146, Seonyu-ro, Yeongdeungpo-gu, Seoul, Korea |
|
Building |
Rm. 1304, E&C Dream Tower |
|
Zip Code |
150-103 |
|
Tel |
+82-2-2628-0041 |
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Fax |
+82-2-2628-0040 |
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E-mail |
sinil@korea.com |
|
Website |
www.sinil.com |
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Trading Address |
146, Seonyu-ro, Yeongdeungpo-gu, Seoul, Korea (Old Address System : Rm. 1304, E&C Dream Tower, 46,
Yangpyeongdong 3-ga, Yeongdeungpo-gu, Seoul, Korea) |
|
Tel |
+82-2-2628-0041 |
|
Fax |
+82-2-2628-0040 |
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Other Address-Yongin Factory |
503-7, Yubang-dong, Cheoin-gu, Yongin-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-334-3260 |
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Fax |
+82-31-334-3260 |
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Other Address-Anseong Factory |
82-1, Sanbuk-ri, Iljuk-myeon, Anseong-si, Gyeonggi-do, Korea |
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Tel |
+82-31-673-4142 |
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Fax |
+82-31-673-4121 |
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Other Address-Branch |
552-2, Dangsan-dong 3-ga, Yeongdeungpo-gu, Seoul,
Korea |
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Tel |
|
|
Fax |
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|
Type |
Export/Import |
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Industry |
Manufacture of Other Insulated Wire and Cable |
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Main Business |
Communication Materials, Heat Shrinkable Sleeve |
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Sub
Business |
|
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Established (mm/dd/yyyy) |
11/01/1974 |
The Subject owns the premises of registered
HQ address.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Cable splicing kits(39121718) |
CEO’s
|
Name |
Kim Soon-Il |
|
Address |
Suite 422-1902, 42, Dangsan-dong 5-ga,
Yeongdeungpo-gu, Seoul, Korea |
|
Date of Birth |
11/23/1963 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
500,000,000 |
|
Employees |
10 |
|
Formation |
Co., Ltd by shares |
|
Bank Details |
Kookmin Bank-Dangsan Dong Branch Woori Bank-Youngdungpo Seo Branch |
|
Corporate Registered No. |
110111-0171390 |
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Business Registered No. |
107-81-13974 |
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Permit & Licenses |
07/27/2001 ISO 9001 by ZURICH 08/25/2002 ISO 9001 by ICR Int’l Trade No.: 11365378 |
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Shareholder Position |
N/A |
|
Company History |
11/01/1974 Incorporated as the present name 02/27/2001 Increased the authorized shares
to 500,000 shares from 8,000 shares 02/28/2001 Increased capital to 200,000,000
KRW from 50,000,000 KRW 11/27/2003 Increased capital to 350,000,000
KRW from 200,000,000 KRW 03/26/2005 Increased capital to 500,000,000
KRW from 350,000,000 KRW 10/27/2006 Moved to the present HQ address
from 552-2, Dangsan-dong 3-ga, Yeongdeungpo-gu, Seoul, Korea |
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|
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Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Kim Soon-Il |
Male |
Korean |
09/20/2002 |
|
Director |
M/S. |
Kim Soon-Joo |
Female |
Korean |
09/29/2005 |
|
Director |
M/S. |
Lee Won-Sun |
Female |
Korean |
09/29/2005 |
Financials
|
Year / Unit : KRW |
Sales |
|
2,313,000,000 |
|
|
2011 |
3,144,000,000 |
|
2010 |
1,650,000,000 |
|
2009 |
1,650,000,000 |
|
2008 |
1,885,000,000 |
The 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) |
5,000,000,000 |
|
Paid-Up Capital(KRW) |
500,000,000 |
|
Total Issued Shares |
50,000 |
Products,
Technologies, Services Description
|
Main Products & Services |
Joint closure system for non-pressurised
telephone network Heat-shrinkable cable sleeves for CATV
network |
Trade Partners
& Competitors
|
Customers |
KT CORPORATION(110111-1468754) |
|
Competitors |
LS CABLE LTD. 12TH FL., LS TOWER, 1026-6, HOGYE 1-DONG,
DONGAN-GU, ANYANG-SI, GYEONGGI-DO, KOREA TEL:+82-2-2189-9114 FAX:+82-2-2189-9259 TSC MEMSYS CO., LTD. 60-29, GASAN-DONG, GEUMCHEON-GU, SEOUL,
KOREA TEL:+82-2-3282-1900 FAX:+82-2-858-8529 UB PRECISION CO., LTD. 603, JEIL-RI, YANGJI-MYEON, CHEOIN-GU,
YONGIN-SI, GYEONGGI-DO, KOREA TEL:+82-31-330-3100 FAX:+82-31-330-3033 |
Sales by Region
(Activity & Markets)
The Subject deals with the companies in
China, India, Iran, and Saudi Arabia.
Not Available.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.90 |
|
|
1 |
Rs.102.74 |
|
Euro |
1 |
Rs.85.16 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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 |
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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 |
|
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.