MIRA INFORM REPORT

 

 

Report Date :

29.07.2014

 

IDENTIFICATION DETAILS

 

Name :

SY TRADING CO., LTD.

 

 

Registered Office :

24, Jeongbalsan-ro, Ilsandong-gu, Goyang-si, Gyeonggi-do, Korea Rm.2-404-1, Western Dom 410-838

 

 

Country :

South Korea

 

 

Date of Incorporation :

27.12.2001

 

 

Com. Reg. No.:

128-81-66065

 

 

Legal Form :

Co., Ltd by shares

 

 

Line of Business :

Wholesale of other Machinery and Equipment

 

 

No. of Employees

02

 

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

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

 

Basic

 

Company Name

SY TRADING CO., LTD.

(Korean Company Name : “(주)에스와이트레이딩”)

Registered Address

24, Jeongbalsan-ro, Ilsandong-gu, Goyang-si, Gyeonggi-do, Korea

Building

Rm.2-404-1, Western Dom

Zip Code

410-838

Tel

+82-31-973-9451~2

Fax

+82-31-973-9453

E-mail

sales@kev.co.kr;kevin@kev.co.kr

Website

www.biojangpoong.com

Trading Address

Rm.2-404-1, Western Dom, 24, Jeongbalsan-ro, Ilsandong-gu, Goyang-si, Gyeonggi-do, Korea

(Old Address System : Rm.2-404-1, Western Dom, 867, Janghang 2-dong, Ilsandong-gu, Goyang-si, Gyeonggi-do, Korea)

Tel

+82-31-973-9451~2

Fax

+82-31-973-9453

Other Address

 

Tel

 

Fax

 

Type

Export/Import

Industry

Wholesale of Other Machinery and Equipment n.e.c.

  Main Business

Hand Dryer, Sanitary Items, Plastic Raw Materials, Chemicals

  Sub Business

 

Established (mm/dd/yyyy)

12/27/2001

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

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Institutional hand dryers(47131707)

 

CEO’s

 

Name

Kim Kyung-In(Kevin)

Address

Suite 902-208, 1997, Daehwa-dong, Ilsanseo-gu, Goyang-si, Gyeonggi-do, Korea

Date of Birth

03/15/2004

Title

Representative Director

Sex

Male

Nationality

Korean

 

Profiles

 

Capital (KRW)

50,000,000

Employees

2

Formation

Co., Ltd by shares

Bank Details

N/A

Corporate Registered No.

115911-0060518

Business Registered No.

128-81-66065

Permit & Licenses

N/A

Shareholder Position

Name

Shares

%

KIM KYUNG-IN(KEVIN)

2,500

25.00

KIM JONG-KI

2,500

25.00

KIM IN-KI

2,500

25.00

OTHERS

2,500

25.00

TOTAL

10,000

100.00

Company History

12/27/2001 Incorporated as the present name

02/15/2005 Moved to the present HQ address from Rm.909, Hosu Green, 752-1, Janghang-dong, Ilsandong-gu, Goyang-si, Gyeonggi-do, Korea

01/30/2010 Moved to the present HQ address from Rm. 509, Ye-il Clinic, 725, Haengsin 2-dong, Deokyang-gu, Goyang-si, Gyeonggi-do, Korea

 

 

 

 

Detailed Information

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

Representative Director

Mr.

Kim Kyung-In(Kevin)

Male

Korean

12/27/2001

Auditor

M/S.

Kim Sook-Yeon

Female

Korean

03/15/2004

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2013

 

 

 

2012

 

 

 

2011

 

 

 

2010

 

 

 

2009

 

 

 

2008

 

 

 

2007

 

 

 

2006

 

 

 

2005

700,000,000

 

 

2004

833,000,000

101,000,000

17,000,000

2003

1,250,000,000

74,000,000

-4,000,000

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 Issued Shares

10,000

 

 

Products, Technologies, Services Description

 

Main Products & Services

Hand Dryer, Sanitary Items, Plastic Raw Materials, Chemicals

Detailed Products Spec.

 

Technologies Acquired

 

 

Trade Partners & Competitors

 

Suppliers

SPACELING CO., LTD.(110111-1423534)

Customers

 

Competitors

SPACELINK CORPORATION

RM. 509, ACE TECHNO 5-CHA, 197-22, GURO 3-DONG, GURO-GU, SEOUL, KOREA

TEL:+82-2-2025-7300  FAX:+82-2-2025-7301

 

HANKOOK TOWEL MACHINE IND. CO., LTD.

213-13, GUUI 3-DONG, GWANGJIN-GU, SEOUL, KOREA

TEL:+82-2-455-3701~5  FAX:+82-2-456-8253

 

DECO PANEL CO., LTD.

210, ONGJEONG-RI, TONGJIN-EUP, GIMPO-SI, GYEONGGI-DO, KOREA

TEL:+82-31-988-2616  FAX:+82-31-988-2618

 

 

Sales by Region (Activity & Markets)

 

The Subject exports to Bangladesh, Pakistan and USA.

 

 

Court Action

 

Not Available.

 

 

News Clipping

 

--

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.10

UK Pound

1

Rs.102.04

Euro

1

Rs.80.74

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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