|
Report Date : |
21.06.2014 |
|
|
|
|
Tel. No.: |
82-31-8790231 |
|
Fax No.: |
82-31-8742400 |
IDENTIFICATION DETAILS
|
Name : |
TANTAN CORP. |
|
|
|
|
Formerly Known as : |
TTC PLUS CORP. |
|
|
|
|
Registered Office : |
39, Simin-ro, Uijeongbu-si, Gyeonggi-do, Rm. 801, Daejeong Plaza, Zip
Code 480-848 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Date of Incorporation : |
10.10.1995 |
|
|
|
|
Com. Reg. No.: |
112-09-69912 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Wholesaler of Other Industrial Machinery and Equipment such as Paper
Converting Machinery, Metal Converting Machine, Paper Honeycomb Machine,
Corrugated Bos Machine & Paper
Pallet Production Line |
|
|
|
|
No of Employees : |
03 |
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 |
|
Concern Name |
TANTAN CORP. (Korean Concern Name : “탄탄코포레이션”) |
|
Registered Address |
39, Simin-ro, Uijeongbu-si, Gyeonggi-do, Korea |
|
Building |
Rm.
801, Daejeong Plaza |
|
Zip Code |
480-848 |
|
Tel |
+82-31-879-0231 |
|
Fax |
+82-31-874-2400 |
|
E-mail |
|
|
Website |
|
|
Trading
Address |
Rm. 801, Daejeong Plaza, 39, Simin-ro,
Uijeongbu-si, Gyeonggi-do, Korea (Old Address System : Rm. 801, Daejeong Plaza, 486-7, Uijeongbu
2-dong, Uijeongbu-si, Gyeonggi-do, Korea) |
|
Tel |
+82-31-879-0231 |
|
Fax |
+82-31-874-2400 |
|
Type |
Export/Import |
|
Main Business |
Wholesaler
of Other Industrial Machinery and Equipment such as Paper Converting
Machinery, Metal Converting Machine, Paper Honeycomb Machine, Corrugated Bos Machine & Paper Pallet
Production Line |
|
Established
(mm/dd/yyyy) |
10/10/1995 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Paper
making and paper processing machinery and equipment and supplies(23151900) |
|
Name |
Choi
Jung-Woo |
|
Title |
Owner |
|
Sex |
Male |
|
Nationality |
Korea |
|
Capital (KRW) |
Not Applicable to
the Sole Proprietorship |
|
Employees |
3 |
|
Formation |
Sole
Proprietorship |
|
Bank Details |
N/A |
|
Corporate Registered No. |
Not Applicable to the Sole Proprietorship |
|
Business Registered No. |
112-09-69912 |
|
Permit & Licenses |
N/A |
|
Shareholder Position |
The owner has 100% shares. |
|
Concern History |
10/10/1995 Established as TANTAN CORP. 05/24/2005 Changed concern name to TTC PLUS
CORP. 09/04/2007 Changed concern name to the present
name |
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
Owner |
Mr. |
Choi
Jung-Woo |
Male |
Korean |
10/10/1995 |
|
Year / Unit
: KRW |
Sales |
|
2012 |
2,500,000,000 |
|
2011 |
1,701,000,000 |
|
2010 |
511,000,000 |
|
2009 |
400,000,000 |
|
2008 |
1,500,000,000 |
The full &
latest 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 Issued Shares |
Not
Applicable to the Sole Proprietorship |
|
Main Products & Services |
Paper
Converting Machinery, Metal Converting Machine, Paper Honeycomb Machine,
Corrugated Bos Machine &
Paper Pallet Production Line |
|
Competitors |
CBM TECH CO., LTD. 112-4, GEOMULDAE-RI, DAEGOT-MYEON, GIMPO-SI,
GYEONGGI-DO, KOREA TEL:+82-31-984-5880 FAX:+82-31-984-9961 DAE JIN ENGINEERING CO. 3RD FL., 399-7, SINDORIM-DONG, GURO-GU,
SEOUL, KOREA TEL:+82-2-2634-6418 FAX:+82-2-2634-6416 WOOK IL MACHINERY CO., LTD. 1447-5, SEONGSAN-RI, SEONGJU-EUP,
SEONGJU-GUN, GYEONGSANGBUK-DO, KOREA TEL:+82-54-931-6162~6 FAX:+82-54-931-6106~9 |
(Activity &
Markets)
The Subject deals
with the companies Ghana, USA, Saudi Arabia, China and France.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.28 |
|
UK Pound |
1 |
Rs.102.77 |
|
Euro |
1 |
Rs.82.12 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.