MIRA INFORM REPORT

 

 

Report Date :

19.07.2014

 

IDENTIFICATION DETAILS

 

Name :

BE MAX TRADING CO., LTD.

 

 

Registered Office :

30, Saemunan-ro 3-gil, Jongno-gu, Seoul, Korea Rm.707, Sejongro Daewoo Bldg.

 

 

Country :

South Korea

 

 

Date of Incorporation :

23.03.2000

 

 

Com. Reg. No.:

101-81-55791

 

 

Legal Form :

Co., Ltd by shares

 

 

Line of Business :

Wholesale of Synthetic Rubber and Plastics Materials

 

 

No. of Employees

05

 

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 – March 31, 2014

 

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

South Korea

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

 

B2

Moderate High Risk

 

C1

High Risk

 

C2

Very High Risk

 

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 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, and heavy reliance on exports - which comprise about half of GDP

 

Source : CIA

 

 

 

Basic Information

 

Basic

 

Company Name

BE MAX TRADING CO., LTD.

(Korean Company Name : “비멕스트레이딩(주)”)

Registered Address

30, Saemunan-ro 3-gil, Jongno-gu, Seoul, Korea

Building

Rm.707, Sejongro Daewoo Bldg.

Zip Code

110-070

Tel

+82-2-738-0558

Fax

+82-2-738-0559

E-mail

cwlee@bemaxtrade.com

Website

www.bemaxtrade.com

Trading Address

Rm.707, Sejongro Daewoo Bldg., 30, Saemunan-ro 3-gil, Jongno-gu, Seoul, Korea

(Old Address System : Rm.707, Sejongro Daewoo Bldg., 167, Naesu-dong, Jongno-gu, Seoul, Korea)

Tel

+82-2-738-0558

Fax

+82-2-738-0559

Other Address

 

Tel

 

Fax

 

Type

Import/Export

Industry

Wholesale of Synthetic Rubber and Plastics Materials

  Main Business

Synthetic Resin

  Sub Business

 

Established (mm/dd/yyyy)

03/23/2000

The Subject Company occupies the premises of registered HQ address by leasing base.

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Plastic resins(13111059)

 

CEO’s

 

Name

Ko Jae-Yong

Address

Suite 2-702, 151, Samseong-ro, Gangnam-gu, Seoul, Korea

Date of Birth

02/10/1948

Title

President & CEO

Sex

Male

Nationality

Korean

 

Profiles

 

Capital (KRW)

50,000,000

Employees

5

Formation

Co., Ltd by shares

Bank Details

Korea Exchange Bank-Kwanghwamun Branch

Hana Bank

Corporate Registered No.

110111-1917066

Business Registered No.

101-81-55791

Permit & Licenses

Int’l Trade No.: 11783909

Shareholder Position

N/A

Company History

03/23/2000 Incorporated as the present name

03/10/2010 Moved to Rm. 2001, Gwanghwamun Officia, 163, Sinmunno 1-ga, Jongno-gu, Seoul, Korea from Rm. 912, Doryeom Bldg., 60, Doryeom-dong, Jongno-gu, Seoul, Korea

03/31/2011 Moved to the present HQ address from Rm. 2001, Gwanghwamun Officia, 163, Sinmunno 1-ga, Jongno-gu, Seoul, Korea

 

 

 

 

Detailed Information

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

Mr.

Ko Jae-Yong

Male

Korean

03/23/2000

Director

M/S.

Kim Yeon-Joo

Female

Korean

03/23/2000

Auditor

Mr.

Kim Jung-Sik

Male

Korean

03/23/2000

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2013

 

 

 

2012

 

 

 

2011

 

 

 

2010

 

 

 

2009

 

 

 

2008

 

 

 

2007

 

 

 

2006

35,996,000,000

2,262,000,000

129,000,000

2005

 

 

 

2004

31,335,000,000

863,000,000

90,000,000

2003

26,831,000,000

1,937,000,000

74,000,000

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)

200,000,000

Paid-Up Capital(KRW)

50,000,000

Total Issues Shares

10,000

 

Products, Technologies, Services Description

 

Main Products & Services

Synthetic Resin

Detailed Products Spec.

 

Technologies Acquired

 

 

Trade Partners & Competitors

 

Suppliers

 

Customers

 

Competitors

SAMMIN CORPORATION

RM. 408, DAEGWANG BLDG., 7-15, NONHYEON 1-DONG, GANGNAM-GU, SEOUL, KOREA

TEL:+82-2-547-2556  FAX:+82-2-547-2559

 

CITI POLYMER LTD.

RM. 1405, LG TWINTEL 1-CHA, 157-8, SAMSEONG 1-DONG, GANGNAM-GU, SEOUL, KOREA

TEL:+82-2-539-8071  FAX:+82-2-539-8073

 

GEYANG CHEMICAL CO., LTD.

4TH FL., GIL BLDG., 522-2, DANGSANDONG 3-GA, YEONGDEUNGPO-GU, SEOUL, KOREA

TEL:+82-2-2635-6575  FAX:+82-2-2677-0878

 

 

Sales by Region (Activity & Markets)

 

Sales/ Unit :Mil KRW

2013

2012

2011

Export

 

 

 

Domestic

 

 

 

Total

 

 

 

The Subject exports to China, Taiwan, Hong Kong, Lebanon, Vietnam and Syria.

 

 

Court Action

 

Not Available.

 

 

News Clipping

 

--

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.33

UK Pound

1

Rs.103.18

Euro

1

Rs.81.58

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.