|
Report Date : |
18.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
METACHEM CORPORATION |
|
|
|
|
Registered Office : |
46, Digital-ro 9-gil, Geumcheon-gu, Seoul, Korea |
|
|
|
|
Country : |
Korea (South) |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
27.10.2001 |
|
|
|
|
Com. Reg. No.: |
113-81-72468 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Wholesale of Other Chemical Materials and Chemical Products |
|
|
|
|
No. of Employees : |
5 |
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 : |
Slow but correct |
|
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) |
|
Korea (South) |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
KOREA (SOUTH) - 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
|
Company Name |
METACHEM CORPORATION |
|
Registered Address |
46, Digital-ro 9-gil, Geumcheon-gu, Seoul, Korea |
|
Building |
Rm. 1501, E&C Dream Tower 7-cha |
|
Zip Code |
153-791 |
|
Tel |
+82-2-6277-7500 |
|
Fax |
+82-2-6277-7505 |
|
E-mail |
km.kim@metachem.co.kr |
|
Website |
www.metachem.co.kr |
|
Trading Address |
Rm. 1501, E&C Dream Tower 7-cha, 46, Digital-ro 9-gil,
Geumcheon-gu, Seoul, Korea (Old Address System : Rm. 1501, E&C Dream Tower 7-cha, 60-44,
Gasan-dong, Geumcheon-gu, Seoul, Korea) |
|
Tel |
+82-2-6277-7500 |
|
Fax |
+82-2-6277-7505 |
|
Type |
Import |
|
Industry |
Wholesale of Other Chemical Materials and Chemical Products |
|
Main Business |
Sodium Fluoride, Cryolite, Aluminum Fluoride, Phosphoric Acid |
|
Established (mm/dd/yyyy) |
10/27/2001 |
The Subject Company owns the premises of
registered HQ address.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Inorganic compounds(12352300) |
|
Sell |
Chemistry reagents or solutions(41116105) |
CEO’s
|
Name |
Seo Jeong-Chul |
|
Address |
Suite 404-705, 734, Madu-dong,
Ilsandong-gu, Goyang-si, Gyeonggi-do, Korea |
|
Date of Birth |
02/20/1959 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
200,000,000 |
|
Employees |
5 |
|
Formation |
Co., Ltd by shares |
|
Bank Details |
Industrial Bank of Korea-Guro Sarang Branch |
|
Corporate Registered No. |
110111-2362111 |
|
Business Registered No. |
113-81-72468 |
|
Permit & Licenses |
N/A |
|
Shareholder Position |
N/A |
|
Company History |
10/27/2001 Incorporated as the present name 11/02/2005 Increased capital to 100,000,000
KRW from 50,000,000 KRW 12/27/2007 Moved to the present HQ address
from 395-73, Sindaebang-dong, Dongjak-gu, Seoul, Korea 04/16/2009 Increased capital to 200,000,000 KRW from 100,000,000 KRW |
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Seo Jeong-Chul |
Male |
Korean |
03/31/2010 |
|
Outside Director |
Mr. |
Lee Hee |
Male |
Korean |
03/31/2010 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2012 |
5,306,000,000 |
3,717,000,000 |
-224,000,000 |
|
2011 |
6,329,000,000 |
3,604,000,000 |
24,000,000 |
|
2010 |
7,336,000,000 |
3,555,000,000 |
58,000,000 |
|
2009 |
8,870,000,000 |
3,381,000,000 |
60,000,000 |
|
2008 |
9,012,000,000 |
3,517,000,000 |
158,000,000 |
|
2007 |
6,339,000,000 |
3,116,000,000 |
90,830,000 |
|
2006 |
6,000,000,000 |
|
114,830,000 |
|
2005 |
4,800,000,000 |
|
119,000,000 |
|
2004 |
2,694,000,000 |
|
84,000,000 |
|
2003 |
2,258,000,000 |
|
87,000,000 |
The latest 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) |
200,000,000 |
|
Total Issued Shares |
40,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Total Assets |
3,717,000,000 |
3,604,000,000 |
3,555,000,000 |
|
Current Assets |
2,375,000,000 |
2,328,000,000 |
2,460,000,000 |
|
-Quick Assets |
- |
- |
- |
|
-Inventories |
- |
- |
- |
|
Fixed Assets |
1,342,000,000 |
1,276,000,000 |
1,095,000,000 |
|
-Investment |
- |
- |
- |
|
-Tangibles |
- |
- |
- |
|
-Intangibles |
- |
- |
- |
|
Total Liabilities |
2,923,000,000 |
2,586,000,000 |
2,561,000,000 |
|
Current Liabilities |
315,000,000 |
231,000,000 |
311,000,000 |
|
Fixed Liabilities |
2,608,000,000 |
2,355,000,000 |
2,250,000,000 |
|
Capital Stock |
200,000,000 |
200,000,000 |
200,000,000 |
|
Capital Surplus |
- |
- |
- |
|
Profit Surplus |
- |
- |
- |
|
Capital Adjustment |
- |
- |
- |
|
Total Equity |
795,000,000 |
1,018,000,000 |
994,000,000 |
|
Liab. & Shareholder’s Equity |
3,717,000,000 |
3,604,000,000 |
3,555,000,000 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Sales |
5,306,000,000 |
6,329,000,000 |
7,336,000,000 |
|
Cost of Sold Goods |
4,600,000,000 |
5,300,000,000 |
6,167,000,000 |
|
Gross Profit |
706,000,000 |
1,029,000,000 |
1,169,000,000 |
|
Selling & Admin. Expenses |
777,000,000 |
858,000,000 |
978,000,000 |
|
Operating Income |
-71,000,000 |
171,000,000 |
191,000,000 |
|
Non-Operating Income |
13,000,000 |
32,000,000 |
19,000,000 |
|
Non-Operating Expenses |
163,000,000 |
174,000,000 |
146,000,000 |
|
Income Before Taxes |
-221,000,000 |
29,000,000 |
64,000,000 |
|
Income Taxes Expenses |
3,000,000 |
4,000,000 |
6,000,000 |
|
Net Income |
-224,000,000 |
24,000,000 |
58,000,000 |
Products,
Technologies, Services Description
|
Main Products & Services |
Organic Chemicals -Solvents -Monomers Inorganic Chemicals -Basic Chemicals -Fluorine Chemicals -Phosphate Chemicals Fine Chemicals -Intermediate -Pharmaceuticals -Additives Minerals Non-Ferrous Metal Ferro Alloy |
Trade Partners
& Competitors
|
Suppliers |
LG CHEM LTD.(110111-2207995) KUMHO P&B CHEMICALS,
INC.(206211-0018313) HONAM PETRO CHEMICAL
CORPORATION(110111-0193196) MITSUBISHI DOW |
|
Competitors |
FOOSUNG CORP. 3RD FL., SEOKSU BLDG., 113-8, SAMSEONG
2-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-554-4108 FAX:+82-2-555-8196 HUBE GLOBAL CO., LTD. RM. 1201, URI VENTURE TOWN 2-CHA, 82-29,
MULLAE-DONG 3-GA, YEONGDEUNGPO-GU, SEOUL, KOREA TEL:+82-2-2068-9312 FAX:+82-2-2068-8761~2 SAM KYUNG CO., LTD. 308-1, SEONAM-DONG, NAM-GU, ULSAN, KOREA TEL:+82-52-274-6531 FAX:+82-52-266-9424 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Overseas Office |
METACHEM(SHANGHAI) CO., LTD. ROOM 907,SINO LIFE TOWER, NO.707 ZHANGYANG
ROAD, PUDONG, SHANGHAI, CHINA TEL:+86-21-5836 1431 FAX:+86-21-5836-1433 VIETNAM OFFICE 13-19B, H3 BUILDING, HOANG DIEU ST, WARD 6,
DIST 4, HCMC, VIETNAM TEL:+84-8-918-2131~3 FAX:+84-8-826-5822 SINGAPORE OFFICE 3-17 THE SUNNY SPRING 50/52 LORONG 40
GEYLANG, SINGAPORE TEL:+65-9067-1499 METACHEM(QINGDAO) CO., LTD. NO.18 BINZHOU ROAD, QINGDAO, CHINA METACHEM(SHANGHAI) CO., LTD. DANYANG OFFICE NO. 11 BOWEI TRADE CENTER, DEVELOPMENT
ZONE, DANYANG, JIANGSU, CHINA |
Sales by Region
(Activity & Markets)
The Subject Company deals with the companies
in Japan, India and China.
Not Available.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.52 |
|
|
1 |
Rs.102.22 |
|
Euro |
1 |
Rs.85.23 |
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 |
|
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.