|
Report Date : |
07.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
BEST F.A CO.,
LTD. |
|
|
|
|
Registered Office : |
48-19, Yeondeok-ro 15beon-gil,
Seongsan-gu, Changwon-si, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
14.07.1997 |
|
|
|
|
Com. Reg. No.: |
609-86-07712 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Manufacture of Other General-Purpose Machinery |
|
|
|
|
No of Employees : |
15 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
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 – 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 |
|
Company
Name |
BEST F.A CO.,
LTD. (Korean Company
Name : “베스트에프에이(주)”) |
|
Registered Address |
48-19, Yeondeok-ro 15beon-gil,
Seongsan-gu, Changwon-si, Gyeongsangnam-do, Korea |
|
Building |
|
|
Zip Code |
641-290 |
|
Tel |
+82-55-286-6060 |
|
Fax |
+82-55-286-6511 |
|
E-mail |
misuk@best-fa.co.kr;jimmy@best-fa.co.kr;best@best-fa.co.kr |
|
Website |
www.best-fa.co.kr |
|
Trading Address |
48-19, Yeondeok-ro 15beon-gil,
Seongsan-gu, Changwon-si, Gyeongsangnam-do, Korea (Old Address System : 61-29, Ungnam-dong,
Changwon-si, Gyeongsangnam-,do, Korea) |
|
Tel |
+82-55-286-6060 |
|
Fax |
+82-55-286-6511 |
|
Other Address |
|
|
Tel |
|
|
Fax |
|
|
Type |
Export/Import |
|
Industry |
Manufacture of Other General- Purpose Machinery n.e.c. |
|
Main Business |
Fironius Power Source, Migweld Alwire, Welding Automation System |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
07/14/1997 |
M/S. Lee Mi-Suk owns
the premises of registered HQ address.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Welders(23171508) |
|
Name |
Kim Yoo-Chan |
|
Address |
35-10, Bieum-ro 55beon-gil, Seongsan-gu,
Changwon-si, Gyeongsangnam-do, Korea |
|
Date of Birth |
11/27/1961 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
1,000,000,000 |
|
Employees |
15 |
|
Formation |
Co., Ltd by Shares |
|
Bank Details |
Industrial Bank of Korea-Changwon Branch |
|
Corporate Registered No. |
194211-0203357 |
|
Business Registered No. |
609-86-07712 |
|
Permit & Licenses |
03/2006 ISO 9001 03/2012 ISO 9001:2009 Int’l Trade No.: 24020790 |
|
Shareholder Position |
N/A |
|
Company History |
07/14/1997
Established as BEST F.A CO. (Sole
Proprietorship 609-01-10637) 01/04/2008 Designated as an INNO-BIZ
Company 08/07/2012 Incorporated as the present name 12/24/2013 Increased the authorized shares to
400,000 shares from 200,000 shares 12/25/2013 Increased capital to
1,000,000,000 KRW from 500,000,000 KRW |
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Kim Yoo-Chan |
Male |
Korean |
10/01/2013 |
|
Director |
M/S. |
Lee Mi-Suk |
Female |
Korean |
08/07/2012 |
|
Director |
Mr. |
Kim Tae-Wan |
Male |
Korean |
12/23/2013 |
|
Auditor |
M/S. |
Kim So-Hee |
Female |
Korean |
08/07/2012 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
|
|
|
|
|
2012 |
11,768,000,000 |
6,545,000,000 |
2,592,000,000 |
|
2011 |
13,870,000,000 |
5,663,000,000 |
1,356,000,000 |
|
2010 |
8,833,000,000 |
4,389,000,000 |
649,000,000 |
|
2009 |
6,294,000,000 |
3,797,000,000 |
309,000,000 |
|
2008 |
7,501,000,000 |
4,875,000,000 |
317,000,000 |
|
2007 |
4,797,000,000 |
4,060,000,000 |
357,000,000 |
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) |
4,000,000,000 |
|
Paid-Up Capital(KRW) |
1,000,000,000 |
|
Total Issues Shares |
100,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Total Assets |
6,545,000,000 |
5,663,000,000 |
4,389,000,000 |
|
Current Assets |
4,190,000,000 |
3,233,000,000 |
2,381,000,000 |
|
-Quick Assets |
- |
- |
- |
|
-Inventories |
- |
- |
- |
|
Fixed Assets |
2,355,000,000 |
2,430,000,000 |
2,008,000,000 |
|
-Investment |
- |
- |
- |
|
-Tangibles |
- |
- |
- |
|
-Intangibles |
- |
- |
- |
|
Total Liabilities |
3,580,000,000 |
3,630,000,000 |
2,426,000,000 |
|
Current Liabilities |
1,890,000,000 |
1,811,000,000 |
1,322,000,000 |
|
Fixed Liabilities |
1,690,000,000 |
1,819,000,000 |
1,104,000,000 |
|
Capital Stock |
2,965,000,000 |
2,033,000,000 |
1,963,000,000 |
|
Capital Surplus |
- |
- |
- |
|
Profit Surplus |
- |
- |
- |
|
Capital Adjustment |
- |
- |
- |
|
Total Equity |
2,965,000,000 |
2,033,000,000 |
1,963,000,000 |
|
Liab. & Shareholder’s Equity |
6,545,000,000 |
5,663,000,000 |
4,389,000,000 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Sales |
11,768,000,000 |
13,870,000,000 |
8,833,000,000 |
|
Cost of Sold Goods |
8,409,000,000 |
11,330,000,000 |
7,354,000,000 |
|
Gross Profit |
3,359,000,000 |
2,540,000,000 |
1,479,000,000 |
|
Selling & Admin. Expenses |
1,109,000,000 |
1,228,000,000 |
911,000,000 |
|
Operating Income |
2,250,000,000 |
1,312,000,000 |
568,000,000 |
|
Non-Operating Income |
452,000,000 |
244,000,000 |
245,000,000 |
|
Non-Operating Expenses |
110,000,000 |
200,000,000 |
164,000,000 |
|
Income Before Taxes |
2,592,000,000 |
1,356,000,000 |
649,000,000 |
|
Income Taxes Expenses |
- |
- |
- |
|
Net Income |
2,592,000,000 |
1,356,000,000 |
649,000,000 |
|
Main Products & Services |
Fironius Power Source, Migweld Alwire, Welding Automation System |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
SCANSONIC GMBH HEINZ SOYER BOLZENSCHWEI TECHNIK GMBH FRONIUS INTERNATIONAL GMBH GUENTER FRONIUS STRAßE 1 A-4600 WELS
THALHEIM TEL:+43-(0)-7242-241-0
FAX:+43-(0)-7242-241-3013 MIG WELD GMBH(FRANCE) FRONIUS(AUSTRIA) |
|
Customers |
HYUNDAI HEAVY INDUSTRIES CO., LTD.(181211-0000386) HYUNDAI MOTOR COMPANY(110111-0085450) DAEWOO SHIPBUILDING & MARINE ENGINEERING CO., LTD.(110111-2095837) DOOSAN HEAVY INDUSTRIES & CONSTRUCTION CO., LTD.(194211-0000943) |
|
Competitors |
SUNGDONG INDUSTRIES CO., LTD. 407-1, MAEHAK-RI, JEONGGWAN-MYEON,
GIJANG-GUN, BUSAN, KOREA TEL:+82-51-728-4511 FAX:+82-51-728-4514 NEW TECH WELDER CO. 2DA-502, SIHWA INDUSTRIAL COMPLEX, 1267-1,
JEONGWANG 2-DONG, SIHEUNG-SI, GYEONGGI-DO, KOREA TEL:+82-31-434-6850 FAX:+82-31-434-6853 DAEKWANG MECHATRONICS CO. 2-DONG, 223-605, SEONGNAM 2-DONG, SEO-GU,
INCHEON, KOREA TEL:+82-32-577-2900 FAX:+82-32-577-2909 |
The Subject deals
with the companies in Austria and Germany.
Not Available.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.75 |
|
|
1 |
Rs.100.07 |
|
Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SMN |
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.