MIRA INFORM REPORT

 

 

Report Date :

05.09.2014

 

IDENTIFICATION DETAILS

 

Name :

MAN & TEL CO., LTD.

 

 

Registered Office :

258, Saneop-ro, Gumi-si, Gyeongsangbuk-do, Korea

 

 

Country :

South Korea

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

18.08.2000

 

 

Com. Reg. No.:

513-81-19310

 

 

Legal Form :

Company Limited By Shares

 

 

Line of Business :

Manufacture of Other Wireless Telecommunication Apparatuses

 

 

No of Employees :

18

 

 

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 – June 01, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

South Korea

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

 

B2

Moderate 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. 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 Information

 

Company Name

MAN & TEL CO., LTD.

(Korean Company Name : “(주)맨엔텔”)

Registered Address

258, Saneop-ro, Gumi-si, Gyeongsangbuk-do, Korea

Building

 

Zip Code

730-925

Tel

+82-54-444-2377~8

Fax

+82-54-444-2379

E-mail

kwjung@manntel.com;export@manntel.com

Website

www.manntel.com

Trading Address

258, Saneop-ro, Gumi-si, Gyeongsangbuk-do, Korea

(Old Address System : 1053-1, Wonpyeong 1-dong, Gumi-si, Gyeongsangbuk-do, Korea)

Tel

+82-54-444-2377~8

Fax

+82-54-444-2379

Other Address-Gongdan Branch

86-2, 1gongdan-ro 7-gil, Gumi-si, Gyeongsangbuk-do, Korea

Tel

 

Fax

 

Type

Export/Import

Industry

Manufacture of Other Wireless Telecommunication Apparatuses

  Main Business

Mobile Telecommunication Educational Equipment, Bluetooth Stereo Ear Set

  Sub Business

 

Established (mm/dd/yyyy)

08/18/2000

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Radio frequency RF filters(32101521)

Sell

Power dividers(32101525)

Sell

Electronics teaching supplies and equipment(60106400)

Buy

Filters(40161500)

Buy

Power supply transformers(39121002)

Buy

Shells and casings(31261600)

Buy

Electrical cable and accessories(26121600)

Buy

Integrated circuits(32101600)

Buy

Capacitors(32121500)

Buy

Switches and controls and relays and accessories(39121500)

Buy

Diodes(32111500)

 

 

CEO’s

 

Name

Jung Kwang-Wook

Address

Suite 104-103, 154, Songdong-ro, Gumi-si, Gyeongsangbuk-do, Korea

Date of Birth

10/16/1958

Title

President & CEO

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

600,000,000

Employees

18

Formation

Co., Ltd by Shares

Bank Details

Daegu Bank-Doryang Dong Branch

Corporate Registered No.

176011-0022844

Business Registered No.

513-81-19310

Permit & Licenses

09/2004 ISO 9001

 

Int’l Trade No.: 13106571

Shareholder Position

Name

Shares

%

JUNG KWANG-WOOK

670,320

55.86

KIM KYUI-YOUNG

260,040

21.67

OTHERS

269,640

22.47

TOTAL

1,200,000

100.00

Company History

08/18/2000 Incorporated as the present name

09/2000 Designated as a Venture Business

10/31/2005 Increased the authorized shares to 5,000,000 shares from 400,000 shares

08/2007 Designated as a Venture Business again

07/2008 Designated as an INNO-BIZ Company

12/29/2010 Increased capital to 600,000,000 KRW from 360,000,000 KRW

 

 

 

 

Detailed Information

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

Mr.

Jung Kwang-Wook

Male

Korean

12/20/2006

Director

Mr.

Lee Dong-Joon

Male

Korean

12/20/2006

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2013

1,243,992,000

2,796,570,000

9,469,000

2012

1,530,924,000

2,787,746,000

49,888,000

2011

1,505,178,000

2,546,971,000

-21,107,000

2010

1,472,000,000

2,138,000,000

66,000,000

2009

N/A

N/A

N/A

2008

1,261,000,000

875,000,000

39,000,000

 

 

Financial Description

 

Authorized Capital(KRW)

2,500,000,000

Paid-Up Capital(KRW)

600,000,000

Total Issued Shares

1,200,000

 

Balance Sheet

Unit : Korean Won

As of 12/31/2013

As of 12/31/2012

As of 12/31/2011

Total Assets

2,796,570,000

2,787,746,000

2,546,971,000

Current Assets

1,296,960,000

1,235,797,000

967,463,000

-Quick Assets

-

-

-

-Inventories

-

-

-

Fixed Assets

1,499,610,000

1,551,949,000

1,579,508,000

-Investment

-

-

-

-Tangibles

-

-

-

-Intangibles

-

-

-

Total Liabilities

1,357,460,000

1,334,712,000

1,143,825,000

Current Liabilities

277,460,000

434,712,000

673,825,000

Fixed Liabilities

1,080,000,000

900,000,000

470,000,000

Capital Stock

600,000,000

600,000,000

600,000,000

Capital Surplus

-

-

-

Profit Surplus

839,110,000

853,034,000

803,146,000

Capital Adjustment

-

-

-

Total Equity

1,439,110,000

1,453,034,000

1,403,146,000

Liab. & Shareholder’s Equity

2,796,570,000

2,787,746,000

2,546,971,000

 

Income Statement

Unit : Korean Won

As of 12/31/2013

As of 12/31/2012

As of 12/31/2011

Sales

1,243,992,000

1,530,924,000

1,505,178,000

Cost of Sold Goods

858,944,000

1,084,874,000

1,366,462,000

Gross Profit

385,048,000

446,050,000

138,716,000

Selling & Admin. Expenses

374,538,000

441,596,000

244,116,000

Operating Income

10,510,000

4,454,000

-105,400,000

Non-Operating Income

37,394,000

99,803,000

97,915,000

Non-Operating Expenses

38,435,000

54,369,000

13,622,000

Income Before Taxes

9,469,000

49,888,000

-21,107,000

Income Taxes Expenses

-

-

-

Net Income

9,469,000

49,888,000

-21,107,000

Products, Technologies, Services Description

 

Main Products & Services

Mobile Telecommunication Educational Equipment, Bluetooth Stereo Ear Set

Detailed Products Spec.

 

Technologies Acquired

 

 

 

Trade Partners & Competitors

 

Suppliers

 

Customers

 

Competitors

UNIMO TECHNOLOGY CO., LTD.

479-12, BANGBAE 3-DONG, SEOCHO-GU, SEOUL, KOREA

TEL:+82-2-6710-7000  FAX:+82-2-6710-7004

 

MAT CO., LTD.

1ST FL., KOREA INDUSTRY BLDG., 864-3, GWANYANG 2-DONG, DONGAN-GU, ANYANG-SI, GYEONGGI-DO, KOREA

TEL:+82-31-422-6223  FAX:+82-31-422-6226

 

THEALL MEDI BIO CO., LTD.

124-3, CHEONGDAM-DONG, GANGNAM-GU, SEOUL, KOREA

TEL:+82-2-3470-4400  FAX:+82-2-581-3107

 

 

Sales by Region (Activity & Markets)

 

Not Available.

 

 

Court Action

 

Not Available.

 

 

News Clipping

 

-----

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.45

UK Pound

1

Rs.99.45

Euro

1

Rs.79.46

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

TPT

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.