|
Report Date : |
03.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
DAVIS DIAMOND CO. LTD. |
|
|
|
|
Formerly Known As : |
SION DIAMOND CO., LTD. |
|
|
|
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Registered Office : |
35, Donhwamun-ro 6na-gil, Jongno-gu, Seoul, 6th Fl., Geumgang Bldg.
110-390 |
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|
|
|
Country : |
South Korea |
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|
|
|
Financials (as on) : |
31.12.2008 |
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|
|
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Date of Incorporation : |
21.02.2002 |
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|
|
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Com. Reg. No.: |
101-81-80077 |
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|
|
|
Legal Form : |
Company Limited by shares |
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|
|
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Line of Business : |
Wholesaler of Watches and Jewelry |
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|
|
|
No of Employees : |
13 |
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 |
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|
|
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Payment Behaviour : |
Unknown |
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|
|
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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 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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 the
economy experienced sluggish growth because of market slowdowns in the United
States, China, and the Eurozone. The incoming administration in 2013, following
the December 2012 presidential election, is likely to face the challenges 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 half of GDP.
|
Source
: CIA |
Basic
|
Company Name |
DAVIS DIAMOND CO. LTD. |
|
Registered Address |
35, Donhwamun-ro 6na-gil, Jongno-gu,
Seoul, Korea |
|
Building |
6th Fl., Geumgang Bldg. |
|
Zip Code |
110-390 |
|
Tel |
+82-2-747-1802 |
|
Fax |
+82-2- 747-1807 |
|
E-mail |
sales@davisdia.com;contact@davis.co.kr;davis747@hanmail.net |
|
Website |
www.davisdia.com;www.previs.kr |
|
Trading Address |
6th Fl., Geumgang Bldg., 35, Donhwamun-ro
6na-gil, Jongno-gu, Seoul, Korea (Old Address System : 6th Fl., Geumgang
Bldg., 127, Bongik-dong, Jongno-gu, Seoul, Korea) |
|
Tel |
+82-2-747-1802 |
|
Fax |
+82-2-3676-8837 |
|
Other Address-Jongro Branch |
Rm.101, Sungcahng Bladg., 97-1, Bongik-dong,
Jongno-gu, Seoul, Korea |
|
Tel |
+82-2-747-1805 |
|
Type |
Import |
|
Industry |
Wholesale of Watches and Jewelry |
|
Main Business |
Diamond |
|
Established (mm/dd/yyyy) |
02/21/2002 |
The Subject Company
occupies the premises of registered HQ address by leasing base.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Diamond gemstones(54121501) |
|
Sell |
Fine jewelry necklaces(54101502) |
CEO’s
|
Name |
Hong Yeun-Ho |
|
Address |
Suite 1001-1002, 728, Naebalsan-dong,
Gangseo-gu, Seoul 157-280 Korea |
|
Date of Birth |
07/24/1962 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
300,000,000 |
|
Employees |
13 |
|
Formation |
Co., Ltd by shares |
|
Bank Details |
Industrial Bank of Korea-Jongro Branch Sc First Bank of Korea-Jongro 5 Ga Branch |
|
Corporate Registered No. |
110111-2451526 |
|
Business Registered No. |
101-81-80077 |
|
Permit & Licenses |
Int’l Trade No.: 45012398 |
|
Shareholder Position |
N/A |
|
Company History |
02/21/2002 Incorporated as SION DIAMOND
CO., LTD. 02/22/2002 Changed company name to the
present name 11/18/2006 Increased capital to 300,000,000
KRW from 100,000,000 KRW 06/04/2009 Moved to the present HQ address
from Rm. 401, Seongsang Bldg., 97-1, Bongik-dong, Jongno-gu, Seoul, Korea |
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Hong Yeun-Ho |
Male |
Korean |
03/18/2002 |
|
Director |
M/S. |
Kim Young-Mi |
Female |
Korean |
03/28/2005 |
|
Director |
Mr. |
Chang Ki-Ho |
Male |
Korean |
11/17/2006 |
|
Auditor |
M/S. |
Kim Myung-Soon |
Female |
Korean |
03/28/2005 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2008 |
5,644,000,000 |
3,624,000,000 |
-311,000,000 |
|
2007 |
3,705,000,000 |
2,279,000,000 |
57,000,000 |
|
2006 |
2,661,000,000 |
1,995,000,000 |
51,000,000 |
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) |
400,000,000 |
|
Paid-Up Capital(KRW) |
300,000,000 |
|
Total Issues Shares |
60,000 |
|
Unit : Korean Won |
As of 12/31/2008 |
As of 12/31/2007 |
As of 12/31/2006 |
|
Total Assets |
3,624,000,000 |
2,279,000,000 |
1,995,000,000 |
|
Total Liabilities |
3,395,000,000 |
1,739,000,000 |
1,511,000,000 |
|
Total Equity |
229,000,000 |
540,000,000 |
484,000,000 |
|
Liab. & Shareholder’s Equity |
3,624,000,000 |
2,279,000,000 |
1,995,000,000 |
|
Unit : Korean Won |
As of 12/31/2008 |
As of 12/31/2007 |
As of 12/31/2006 |
|
Sales |
5,644,000,000 |
3,705,000,000 |
2,661,000,000 |
|
Net Income |
-311,000,000 |
57,000,000 |
51,000,000 |
|
Main Products & Services |
Diamond, Jewelry |
|
Competitors |
GP DIAMONDS LTD. 2ND FL., HANMI JEWELRY COMPLEX, 64-1,
MYO-DONG, JONGNO-GU, SEOUL, KOREA TEL:+82-2-766-4880 FAX:+82-2-745-4880 GOLDENDEW CO.,
LTD.(110111-0319445) 1ST FL., HWADONG BLDG., 1466-14, SEOCHO
3-DONG, SEOCHO-GU, SEOUL, KOREA TEL:+82-2-3415-5700 FAX:+82-2-3471-1455 GEMOPIA JEWELRY CO., LTD. E-201, BUNDANG TECHNO PARK, 151,
YATAP-DONG, BUNDANG-GU, SEONGNAM-SI, GYEONGGI-DO, KOREA TEL:+82-31-708-2005 FAX:+82-31-707-7534 |
News Clipping
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.23 |
|
|
1 |
Rs.101.68 |
|
Euro |
1 |
Rs.83.46 |
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.