|
Report Date : |
06.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
BO SUNG PRECISION MACHINE CO. |
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|
|
|
Registered Office : |
50, Geomdan-ro 27-gil, Buk-gu, Daegu |
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|
|
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Country : |
South Korea |
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|
|
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
15.12.1983 |
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|
|
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Legal Form : |
Sole Proprietorship |
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|
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Line of Business : |
Manufacture of Industrial Machinery for Washing, Dyeing ,
Finishing and Processing Industrial Machinery of Fibres |
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|
|
|
No. of Employees : |
9 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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|
|
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Payment Behaviour : |
Unknown |
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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 – 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
|
Company Name |
BO SUNG PRECISION MACHINE CO. (Korean Company Name : “보성정밀기계”) |
|
Registered Address |
50, Geomdan-ro 27-gil, Buk-gu,
Daegu, Korea |
|
Zip Code |
702-800 |
|
Tel |
+82-53-382-9000 |
|
Fax |
+82-53-381-6688 |
|
E-mail |
bspm@hanmail.net |
|
Website |
www.ibosungtex.com |
|
Trading Address |
50, Geomdan-ro 27-gil, Buk-gu,
Daegu, Korea (Old Address System : 838-72,
Geomdan-dong, Buk-gu, Daegu, Korea) |
|
Tel |
+82-53-382-9000 |
|
Fax |
+82-53-381-6688 |
|
Other Address |
Rm.101-901, Daebang Nobleland
APT., 235, Taebong-ro, Sohol-eup, Pocheon-si, Gyeonggi-do, Korea (Old Address System : Rm.101-901,
Daebang Nobleland APT., 725-7, Song-u-ri, Sohol-eup, Pocheon-si, Gyeonggi-do,
Korea) |
|
Tel |
+82-31-544-3351 |
|
Fax |
+82-31-544-3352 |
|
Type |
Export |
|
Industry |
Manufacture of Industrial Machinery for Washing, Dyeing , Finishing
and Processing Industrial Machinery of Fibres |
|
Main Business |
Polyester Film Coating Machine, Micro Slitter &
Winder, Chain Spangle Punching Press, Foil Stamping Machine |
|
Established (mm/dd/yyyy) |
12/15/1983 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Textile processing machinery and accessories(23121500) |
|
Sell |
Textile working machinery and equipment and
accessories(23121600) |
|
Sell |
Dyeing machines(23121610) |
|
Sell |
Workshop presses(23171622) |
CEO’s
|
Name |
Bae Kyeong-Sik |
|
Address |
|
|
Date of Birth |
02/15/1962 |
|
Title |
Owner |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
Not
Applicable to the Sole Proprietorship |
|
Employees |
9 |
|
Formation |
Sole Proprietorship |
|
Bank Details |
Kookmin Bank-Duryu Dong Branch |
|
Corporate Registered No. |
Not Applicable to the Sole
Proprietorship |
|
Business Registered No. |
504-19-93584 |
|
Permit & Licenses |
12/2004 CE Mark Int’l Trade No.: 13066637 |
|
Shareholder Position |
The owner has 100% shares. |
|
Company History |
12/15/1983 Established as BO
SUNG PRECISION CO. 07/07/2003 Changed company name to the present name |
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Bae Kyeong-Sik |
Male |
Korean |
|
|
Director |
Mr. |
Song Do-Heon |
Male |
Korean |
|
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2013 |
|
|
|
|
2012 |
|
|
|
|
2011 |
3,589,000,000 |
2,036,000,000 |
257,000,000 |
|
2010 |
2,478,000,000 |
2,100,000,000 |
164,000,000 |
|
2009 |
1,873,000,000 |
2,250,000,000 |
124,000,000 |
|
2008 |
|
|
|
The
latest financials are not available, and the Subject Company 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 |
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Total Assets |
2,036,000,000 |
2,100,000,000 |
2,250,000,000 |
|
Current Assets |
420,000,000 |
436,000,000 |
578,000,000 |
|
-Quick Assets |
- |
- |
- |
|
-Inventories |
- |
- |
- |
|
Fixed Assets |
1,616,000,000 |
1,663,000,000 |
1,672,000,000 |
|
-Investment |
- |
- |
- |
|
-Tangibles |
- |
- |
- |
|
-Intangibles |
- |
- |
- |
|
Total Liabilities |
1,674,000,000 |
1,761,000,000 |
1,625,000,000 |
|
Current Liabilities |
1,229,000,000 |
554,000,000 |
610,000,000 |
|
Fixed Liabilities |
446,000,000 |
1,207,000,000 |
1,015,000,000 |
|
Capital Stock |
362,000,000 |
339,000,000 |
625,000,000 |
|
Capital Surplus |
- |
- |
- |
|
Profit Surplus |
- |
- |
- |
|
Capital Adjustment |
- |
- |
- |
|
Total Equity |
362,000,000 |
339,000,000 |
625,000,000 |
|
Liab. & Shareholder’s
Equity |
2,036,000,000 |
2,100,000,000 |
2,250,000,000 |
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Sales |
3,589,000,000 |
2,478,000,000 |
1,873,000,000 |
|
Cost of Sold Goods |
3,083,000,000 |
2,117,000,000 |
1,607,000,000 |
|
Gross Profit |
506,000,000 |
361,000,000 |
266,000,000 |
|
Selling & Admin. Expenses |
162,000,000 |
113,000,000 |
80,000,000 |
|
Operating Income |
344,000,000 |
248,000,000 |
186,000,000 |
|
Non-Operating Income |
- |
- |
6,000,000 |
|
Non-Operating Expenses |
80,000,000 |
84,000,000 |
66,000,000 |
|
Income Before Taxes |
263,000,000 |
164,000,000 |
126,000,000 |
|
Income Taxes Expenses |
6,000,000 |
- |
- |
|
Net Income |
257,000,000 |
164,000,000 |
124,000,000 |
|
Main Products & Services |
Polyester Film Coating Machine, Micro Slitter &
Winder, Chain Spangle Punching Press, Foil Stamping Machine |
|
Suppliers |
|
|
Customers |
|
|
Competitors |
EHWHA GLOTEC CO., LTD. RM. 407, GYEONGGI TECHNO PARK,
1271-11, SA 3-DONG, SANGNOK-GU, ANSAN-SI, GYEONGGI-DO, KOREA TEL:+82-31-491-4191 FAX:+82-31-491-4194 A. M. S. CORPORATION RM. 708, HYUNDAI TOWER, 7-28,
SINCHEON-DONG, SONGPA-GU, SEOUL, KOREA TEL:+82-2-3431-1692 FAX:+82-2-3431-1695 OKWON INDUSTRY CO., LTD. 100-58, GALSAN-DONG, DALSEO-GU,
DAEGU, KOREA TEL:+82-53-583-1722 FAX:+82-53-582-1724 |
The
Subject exports to India, Indonesia, China, Turkey and Hong Kong.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.39 |
|
|
1 |
Rs.98.00 |
|
Euro |
1 |
Rs.76.99 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
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.