|
Report Date : |
11.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHINKI INDUSTRIAL CORP. |
|
|
|
|
Registered Office : |
158, Bongsu-daero, Seo-gu, Incheon |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Year of Establishment : |
1997 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Wholesale of Recycling Materials |
|
|
|
|
No. of Employees : |
2 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
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 |
|
Company Name |
SHINKI
INDUSTRIAL CORP. |
|
Registered Address |
158, Bongsu-daero, Seo-gu, Incheon, Korea (Old Address System : 178-105, Gajwa
1-dong, Seo-gu, Incheon, Korea) |
|
Building |
Uniq Bldg. |
|
Zip Code |
404-812 |
|
Tel |
+82-32-588-2775 |
|
Fax |
N/A |
|
E-mail |
|
|
|
|
|
Trading Address |
Rm.301,
Saemaul Bldg., 389, Cheonho-daero, Dongdaemun-gu, Seoul, Korea (Old Address
System : Rm.301, Saemaul Bldg., 415-9, Jangan 1-dong, Dongdaemun-gu, Seoul,
Korea) |
|
Tel |
+82-2-2245-8836 |
|
Fax |
+82-2-2245-8837 |
|
|
|
|
Type |
Import |
|
Industry |
Wholesale of Recycling Materials |
|
Main Business |
Aluminum Ingot, Scrap, Pallet, Coco Peat,
Recycling, Metal Waste, Zinc Ash, Copper Residue, Iron Ores, Brass Scraps,
Copper Scraps, Steel Scraps, Mill Scale, Iron Sludge |
|
|
|
|
Established (mm/dd/yyyy) |
1997 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Aluminum ingots(30103401) |
|
Name |
Kim Hak-Soo |
|
Title |
Owner |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
Not Applicable to
the Sole Proprietorship |
|
Employees |
2 |
|
Formation |
Sole Proprietorship |
|
Bank Details |
N/A |
|
Corporate Registered No. |
Not Applicable to the Sole Proprietorship |
|
Business Registered No. |
N/A. (The numbers are kept by the National
Tax Service confidentially.) Because the subject’s full Business Registered
No., for checking through the National Tax Service whether the subject is
still existing or not, is not available, so we cannot confirm if the subject
exist or not legally.) |
|
Permit & Licenses |
N/A |
|
Shareholder Position |
The owner has 100% shares. |
|
Company History |
1997, but in other sources, it is described
2002 as established year.. |
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Owner |
Mr. |
Kim Hak-Soo |
Male |
Korean |
2002 |
|
Manager |
|
Kim Bong-Sig (Mobile : +82-10-8232-2778) |
Male |
Korean |
2002 |
The 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 |
|
Main Products & Services |
Aluminum Ingot, Scrap, Pallet, Coco Peat,
Recycling, Metal Waste, Zinc Ash, Copper Residue, Iron Ores, Brass Scraps,
Copper Scraps, Steel Scraps, Mill Scale, Iron Sludge |
|
Competitors |
SEJIN METAL CO., LTD. 891-5, WONSAN-RI, ONSAN-EUP, ULJU-GUN,
ULSAN, KOREA TEL:+82-52-239-3451 FAX:+82-52-238-9698 HANYUNG METAL CO., LTD. 1192, SINSANG 3-RI, JILLYANG-EUP,
GYEONGSAN-SI, GYEONGSANGBUK-DO, KOREA TEL:+82-53-856-8211 FAX:+82-53-856-8215 JSA KOREA COMMODITY LTD. RM. 401, HWANSAM BLDG., 102-31,
DONGJAK-DONG, DONGJAK-GU, SEOUL, KOREA TEL:+82-2-717-2450 FAX:+82-2-717-2454 |
-------
The Subject imports
from USA, and exports to Japan, Taiwan and China.
Not Available.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.16 |
|
|
1 |
Rs.98.62 |
|
Euro |
1 |
Rs.77.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NIT |
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.