|
Report Date : |
10.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
IB TRADING |
|
|
|
|
Registered Office : |
43, Yeonmujang-gil, Seongdong-gu, Seoul, Korea, Zip code 133-835 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Date of Incorporation : |
01.01.2008 |
|
|
|
|
Com. Reg. No.: |
Not Available |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Wholesaler of Textiles, Leather & Fur
Products |
|
|
|
|
No of Employees : |
Not
Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
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 |
|
Concern
Name |
IB TRADING (Korean Concern Name : “아이비트레이딩”) |
|
Registered Address |
43, Yeonmujang-gil, Seongdong-gu, Seoul,
Korea |
|
Zip Code |
133-835 |
|
Tel |
+82-2-466-2399 |
|
Fax |
+82-2-466-2799 |
|
Trading
Address |
11,
Yeonmujang 3-gil, Seongdong-gu, Seoul, Korea (Old Address System : 301-13, Seongsu 2-ga 3-dong, Seongdong-gu,
Seoul, Korea) |
|
Tel |
+82-2-466-2399 |
|
Fax |
+82-2-466-2799 |
|
Type |
Export/Import |
|
Industry |
Wholesaler of Textiles, Leather & Fur
Products |
|
Established (mm/dd/yyyy) |
01/01/2008 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Leathers(11162300) |
|
Name |
Lim Yool-Bae |
|
Date of Birth |
09/20/1972 |
|
Title |
Owner |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
Not Applicable to
the Sole Proprietorship |
|
Employees |
N/A |
|
Formation |
Sole Proprietorship |
|
Bank Details |
N/A |
|
Corporate Registered No. |
Not Applicable to the Sole Proprietorship |
|
Business Registered No. |
206-23-17*** (The full
numbers are kept by the National Tax Service confidentially.) Because the subject’s full Business Registered
No., for checking through the National Tax Service whether the subject is
still existing or not, is not available, so we cannot confirm if the subject
exist or not legally.) |
|
Permit & Licenses |
N/A |
|
Shareholder Position |
The owner has 100% shares. |
|
Concern History |
01/01/2008 Established as the present name |
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
Owner |
Mr. |
Lim Yool-Bae |
Male |
Korean |
01/01/2008 |
The financials are
not available, and the Subject Concern does not have any obligations to release
its financials to the public.
|
Authorized Capital(KRW) |
Not
Applicable to the Sole Proprietorship |
|
Paid-Up Capital(KRW) |
Not
Applicable to the Sole Proprietorship |
|
Total Issues Shares |
Not
Applicable to the Sole Proprietorship |
|
Main Products & Services |
Textiles, Leather & Fur Products |
|
Competitors |
DAE IL LEATHER CO., LTD. 1086-1, JANGNIM 1-DONG, SAHA-GU, BUSAN,
KOREA TEL:+82-51-262-9191~4 FAX:+82-51-262-9195 SEONG WON LEATHER IND. CO., LTD. 18B-45, BANWOL INDUSTRIAL COMPLEX, 617-7, SEONGGOK-DONG,
DANWON-GU, ANSAN-SI, GYEONGGI-DO, KOREA TEL:+82-31-491-0212~3 FAX:+82-31-491-0504 YONG SHIN LEATHER CO., LTD. 100, SAMBANG-DONG, GIMHAE-SI,
GYEONGSANGNAM-DO, KOREA TEL:+82-55-329-0871 FAX:+82-55-329-0874 |
(Activity & Markets)
Not Available.
Not Available.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.06 |
|
UK Pound |
1 |
Rs.99.35 |
|
Euro |
1 |
Rs.80.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MNL |
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.