MIRA INFORM REPORT

 

 

Report Date :

08.09.2014

 

IDENTIFICATION DETAILS

 

Name :

TORAY CHEMICAL KOREA CO., LTD.

 

 

Registered Office :

287, Gongdan 2-dong, Gumi-si, Gyeongsangbuk-do, Korea 730-906

 

 

Country :

South Korea

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

01.07.1972

 

 

Com. Reg. No.:

515-81-00097

 

 

Legal Form :

Listed Company

 

 

Line of Business :

Manufacture of Man-Made Fiber Fabrics

 

 

No. of Employees

1,121

 

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 :

No complaints

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 Information

 

Basic

 

Company Name

TORAY CHEMICAL KOREA CO., LTD.

(Ex. English Company Name : WOONGJIN CHEMICAL CO., LTD., “웅진케미칼(주)”)

(Korean Company Name : “도레이케미칼(주)”)

Registered Address

287, Gongdan 2-dong, Gumi-si, Gyeongsangbuk-do, Korea

Building

 

Zip Code

730-906

Tel

+82-54-469-4114

Fax

+82-54-469-4444

E-mail

webmaster@saehan.co.kr

Website

www.wjchemical.com

Trading Address

23th Fl, Namsan Square Bldg, 173, Toegye-ro, Jung-gu, Seoul, Korea

(Old Address System ; 23th Fl, Namsan Square Bldg, 60-1, Chungmuro 3-ga, Jung-gu, Seoul, Korea)

Tel

+82-2-3279-7000

Fax

+82-2-3279-7062

Other Address-Gumi 2nd Factory

309, Gongdan-dong, Gumi, Gyungsangbuk-do, Korea

Tel

+82-54-480-3000

Fax

+82-54-480-3002

Other Address-Anseong Factory

58, Singeonji-dong, Anseong-si, Gyeonggi-do, Korea

Tel

+82-31-677-2831~4

Fax

+82-31-677-2835

Other Address-Yugu Factory

688, Yugu-ri, Yugu-eup, Gongju, Chungcheongnam-do, Korea

Tel

+82-41-840-6100

Fax

+82-41-840-6119

Other Address-R&D Institute

F3 906-19, Iui-dong Yeongtong-dong Suwon-si Gyeonggi-do, Korea

Tel

+82-31-546-7393

Fax

 

Type

Export/Import

Industry

Manufacture of Man-Made Fiber Fabrics

  Main Business

Yarn, Fabrics, PET Sheet, Filter, Chip

  Sub Business

 

Established (mm/dd/yyyy)

07/01/1972

The Subject owns the Gumi 1st and 2nd Factories and Yugu Factory.

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Yarns(11151700

Sell

Blank tapes(43202002)

Sell

Magneto Optical MO disks(43202006)

Sell

Cotton fibers(11151507)

Sell

Resins(13111000)

Sell

Filters(40161500)

Sell

Concrete pilings(30102802)

Sell

Polyester films(13111210)

Sell

Blank video tapes(45131604)

Sell

Fabrics and leather materials(11160000)

Sell

Water purification equipment(47101514)

Sell

Sheet(30102500)

 

CEO’s

 

Name

Park Chan-Koo

Address

-

Date of Birth

07/31/1963

Title

Co-President & CEO

Sex

Male

Nationality

Korean

 

Profiles

 

Capital (KRW)

237,230,757,000

Employees

1,121

Formation

Listed Company (Korea Stock Exchange : 008000 ) as of 06/30/1977

A Company of WOONGJIN BUSINESS GROUP

Bank Details

Woori Bank

Kyungnam Bank

Korea Exchange Bank

Korea Development Bank

Corporate Registered No.

174811-0000151

Business Registered No.

515-81-00097

Permit & Licenses

11/1993 ISO 9002

09/1994 ISO 9001

12/1995 ISO 9002-Kyungsan factory

12/1996 ISO 14001 Gumi 1 Factory

12/1997 ISO 14001-Kyungsan factory

 

Int’l Trade No.: 875527

Shareholder Position

Name

Shares

%

TORAY ADVANCED MATERIALS KOREA INC.(176011-0020054)

26,062,137

56.21

OTHERS

20,301,714

43.79

TOTAL

46,363,851

100.00

Company History

07/01/1972 Incorporated as Cheil Synthetics Textiles Co. Ltd

02/28/1989 Changed company name to Cheil Synthetics Inc.

08/31/1995 Separated from Samsung Business Group

02/28/1997 Changed company name to SAEHAN INDUSTRIES INC

10/30/1999 Acquired SAEHAN CONSTRUCTION CO., LTD.

03/2000 Established DSI, a joint venture with DuPont /

03/2000 Received ‘IR52 Award’ for Semiconductor lead fixing tape

06/2000 Received ‘Defense Quality System Award’ in the textile area

02/2002 Received ‘Export-to-Japan Merit Award’ from Korea Textile Trade Association

10/2002 Received ‘Korean World-class Product Award’ for high bulky hollow fiber and fire retardant fiber /

10/2002 Received ‘Prime Minister’s Award’ for reverse osmosis membrane for seawater desalination at the New Tech Korea 2002

03/2003 Received ‘Korean World-class Product Award’ for Suede stretch fabric, fouling resistant reverse osmosis membrane

11/2003 Received ‘Korean World-class Product Award’ for Polyester/rayon blended stretch fabric

07/2005 Received ‘Korean World-class Product Award’ for polyester micro corduroy

11/2005 Received ‘Commerce Industry & Energy Minister Award’ for polyester micro corduroy

06/2006 Completed Gumi PlantⅡ

10/2006 Received ‘Commerce Industry & Energy Minister Award’ at the 2006 Korea Technology Grand Prize for High functional nano membranes.

11/2006 Received ‘2006 Gyeongsangbuk-do Energy Saving Best Prize’ at Gumi Plant.

03/21/2008 Changed the Company name to Woongjin Chemical Co., Ltd.

06/30/2008 Acquired Yugu Filer Factory from WOONGJIN COWAY CO., LTD.(110111-0626501)

03/20/2009 Decided to spin off the par value to 500 KRW from 5,000 KRW

01/2010 Moved to the present trading address from 254-8, Gongdeok-dong, Mapo-gu, Seoul, Korea

12/01/2012 Split off the company; existing company(WOONGJIN CHEMICAL CO., LTD.) and newly established company(Woongjin Textile Co., Ltd.)

03/31/2014 Changed company name to the present name

 

(*) History of Corporate Work-Out Procedure

05/18/2000 Applied to Corporate Work-Out Procedure

06/02/2000 Decided to Corporate Work-Out Procedure at the 2nd meeting of Creditors

10/18/2002 Signed the agreement on the Corporate Work-Out Procedure between the creditors of financial institutes and the Subject Company

12/30/2004 Postponed the payment of debts until 12/31/2006 based on the agreement on the 3rd Corporate Work-Out Procedure

12/28/2006 Postponed the payment of debts until 06/30/2007 based on the agreement on the 4th Corporate Work-Out Procedure

04/05/2007 Postponed the payment of debts until 12/31/2008 based on the agreement on the 5th Corporate Work-Out Procedure

01/25/2008 Completed the Corporate Work-Out Procedure

03/21/2008 Changed company name to the present name

06/30/2008 Transferred Water Treatment Business to WOONGJIN COWAY CO., LTD.(110111-0626501)

06/30/2008 Acquired Yugu Filter Factory from WOONGJIN COWAY CO., LTD.(110111-0626501)

03/20/2009 Spin off the par value to 500 KRW from 5,000 KRW

05/30/2013 Merged the par value to 5,000 KRW from 500 KRW

 

 

 

 

Detailed Information

 

Management

 

Job Description

Title

Name

Nationality

Date of Birth

Education & Career

Co-President & CEO

Mr.

Park Chan-Koo

Korean

1963.07.31

The Wharton School, University of Pennsylvania, MBA

Co-President & CEO

Mr.

Lee Young-Kwan

Korean

-

Hongik University, Korea

Co-President & CEO

Mr.

Nishimoto Yasunobu

Japanese

-

Tokyo University, Japan

Director

Mr.

Ahn Ji-Yong

Korean

1972.01.19

Yonsei University, Korea

Director

Mr.

Park Cheon-Shin

Korean

1968.12.

-

Sr. Executive Director

Mr.

Shin Kwang-Soo

Korean

1969.01.05

President & CEO of Woongjin Holdings Co., Ltd.

Outside Director

Mr.

Kang Yong-Soo

Korean

1953.08.20

Present Prof., of Hanyang University, Korea

Outside Director

Mr.

Yoon Yang-Yong

Korean

1955.09.03

President of Arter Cosmetics Co., Ltd.

Outside Director

Mr.

Park Bong-Kyu

Korean

-

Present Prof., of Kunkuk University, Korea

Outside Director

Mr.

Baik Jae-Heum

Korean

-

Kim & Chang

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

(*)06/2013

446,924,795,100

817,552,789,065

3,424,759,040

(*)2012

1,033,403,598,469

744,036,376,891

2,698,827,891

(*)2011

1,083,493,108,408

739,882,854,953

4,015,971,868

(*)2010

911,193,873,590

710,069,168,417

60,257,241,522

2009

803,174,786,065

620,741,739,445

10,182,466,223

2008

833,144,577,137

581,733,000,906

2,188,321,316

2007

738,215,214,924

597,081,062,377

-59,139,312,104

2006

716,754,465,391

886,459,599,104

-91,438,625,923

2005

744,435,173,207

1,004,443,504,799

5,506,215,130

2004

742,625,976,438

1,122,944,383,321

15,122,739,623

(*)Figures are based on the K-IFRS Accounting System.

 

Financial Description

 

Authorized Capital(KRW)

500,000,000,000

Paid-Up Capital(KRW)

237,230,757,000

Total Issues Shares

46,363,851

 

 

Balance Sheet

Unit : Korean Won

As of 12/31/2013

As of 12/31/2012

As of 12/31/2011

Total Assets

774,378,871,709

744,036,376,891

739,882,854,953

Current Assets

249,784,031,332

235,185,071,963

320,457,269,951

Cash & Cash Equivalents

51,374,111,836

28,036,826,564

54,415,542,704

Current Financial Instruments

　

654,471,754

101,915,829

Current Portion of Derivatives

　

　

27,159,439

Held-to-Maturity Financial Assets

　

　

142,975,000

Trade Receivables

110,864,027,768

113,313,740,376

139,180,415,182

Other Receivables

4,012,218,327

11,360,269,597

9,989,693,416

Accrued Income Tax

　

251,148,191

161,441,451

Other Current Assets

2,544,091,584

3,054,131,837

4,000,325,567

Inventories

80,989,581,817

78,514,483,644

112,437,801,363

Non-Current Assets

524,594,840,377

508,851,304,928

419,425,585,002

Non-Current Financial Instruments

600,000,000

1,240,000,000

400,000,000

Current Portion of Derivatives

　

　

94,049,018

Marketable Financial Instruments

925,137,860

723,235,036

723,235,036

Held-to-Maturity Financial Assets

　

　

2,538,410,000

Long-Term Trade Receivables

110,446,017

　

　

Other Receivables

3,867,473,504

4,663,712,025

8,164,036,907

Investment_Subsidiaries

64,443,915,485

63,600,822,585

39,636,352,936

Investment_Related Companies

5,177,402,065

4,065,702,065

4,065,702,065

Deferred Income Tax Assets

17,845,713,520

16,163,208,671

17,879,451,635

Other Non-Current Assets

2,166,852,500

2,166,852,500

166,852,500

Tangibles

398,202,462,074

381,450,367,736

331,168,445,462

Investment_Real Estates

13,880,699,715

14,019,843,784

3,335,609,984

Intangibles

17,374,737,637

20,757,560,526

11,253,439,459

Total Liabilities

462,135,804,457

435,355,106,862

426,996,552,873

Current Liabilities

273,037,358,463

322,149,925,081

282,534,848,325

Current Portion of Derivatives

482,291,433

626,532,129

364,151,997

Other Current Financial Debts

121,097,381

190,175,852

329,595,729

Trade Payables

80,564,838,090

73,686,718,430

97,995,817,542

Other Payables

44,086,531,994

49,071,872,177

54,920,567,739

Short-Term Borrowings

87,668,840,776

142,693,773,906

91,694,224,705

Current Portion of Debentures

40,533,903,131

30,000,000,000

　

Current Portion of Long-Term Debts

13,798,883,232

12,452,078,094

30,105,222,691

Accrued Income Taxes

1,104,151,438

　

　

Current Portion of Provisions

806,478,343

731,281,468

970,966,670

Other Current Liabilities

3,870,342,645

12,697,493,025

6,154,301,252

Non-Current Liabilities

189,098,445,994

113,205,181,781

144,461,704,548

Derivatives

15,289,550

241,076,661

149,960,646

Other Non-Current Non-Financial Debts

149,932,802

227,663,376

581,246,390

Other Non-Current Liabilities

7,017,977,381

5,888,012,136

5,781,231,784

Long-Term Borrowings

167,375,932,898

32,200,000,000

77,000,779,681

Debentures

　

60,635,487,789

51,404,270,601

Confirmed Salaries

14,053,801,133

13,527,429,589

9,058,703,216

Provisions

485,512,230

485,512,230

485,512,230

Capital Stock

237,230,757,000

237,230,757,000

237,230,757,000

Profit Surplus

74,421,446,690

73,495,640,178

84,438,186,779

Installments

7,360,327

-746,662,790

-1,117,172,561

Others

583,503,235

-1,298,464,359

-7,665,469,138

Total Equity

312,243,067,252

308,681,270,029

312,886,302,080

Liab. & Shareholder’s Equity

774,378,871,709

744,036,376,891

739,882,854,953

 

Income Statement

Unit : Korean Won

As of 12/31/2013

As of 12/31/2012

As of 12/31/2011

Sales

900,993,416,004

1,033,403,598,469

1,083,493,108,408

Cost of Sold Goods

798,340,907,222

910,203,145,392

952,856,618,775

Gross Profit

102,652,508,782

123,200,453,077

130,636,489,633

Selling & Admin. Expenses

89,720,671,974

106,579,285,546

95,236,453,417

Operating Income

12,931,836,808

16,621,167,531

35,562,224,405

Other Non-Operating Income

18,023,942,914

19,633,274,638

23,945,915,780

Other Non-Operating Expenses

-13,655,656,361

21,912,050,683

49,699,367,548

Finance Income

1,730,371,716

3,596,562,401

2,935,517,271

Finance Expenses

-14,454,375,167

13,033,718,883

12,710,373,450

Income Before Taxes

4,576,119,910

4,905,235,004

33,916,458

Income Taxes Expenses

1,214,032,862

-2,206,407,113

3,982,055,410

Net Income

3,362,087,048

2,698,827,891

4,015,971,868

 

 

Cash Flows

Unit : Korean Won

As of 12/31/2013

As of 12/31/2012

As of 12/31/2011

Operating Activities Cash Flows

48,223,351,556

56,957,724,959

639,885,219

Net Income

3,362,087,048

2,698,827,891

4,015,971,868

Expenses

58,468,997,011

63,894,585,386

80,862,651,871

Profits

-4,588,460,221

-7,374,220,544

-11,071,890,433

Changes in Asset/ & Liability

-8,411,775,160

-2,085,300,146

-73,257,619,766

Income Taxes

-607,497,122

-176,167,628

90,771,679

Cash Flows from Investing

-47,403,977,543

-103,208,129,460

-62,959,242,610

Cash Inflow from Investing

4,004,170,187

52,211,552,633

10,800,082,021

Cash Outflows for Investing

-51,408,147,730

-155,419,682,093

-73,759,324,631

Cash Flows from Financing

22,996,631,503

20,364,329,813

31,493,702,361

Cash Inflows from Financing

613,067,603,021

179,146,927,749

173,237,436,509

Cash Outflows from Financing

-590,070,971,518

-158,782,597,936

-141,743,734,148

Increase/Decrease in Cash

23,816,005,516

-25,886,074,688

-30,825,655,030

Cash at the Beginning of Year

28,036,826,564

54,415,542,704

85,314,301,068

Cash at the End of Year

51,374,111,836

28,036,826,564

54,415,542,704

 

Products, Technologies, Services Description

 

Main Products & Services

Polyester Filament

Polyester Staple Fiber

Chip

Textile

Filter

Water Treatment

Sheet

 

Brand Name : ESLON, CSM

Detailed Products Spec.

Products

2009

2008

2007

P S F

214,438

207,068

199,146

P   F

63,000

63,929

65,126

Technologies Acquired

 

 

Trade Partners & Competitors

 

Suppliers

 

Customers

 

Competitors

HUVIS CORPORATION(110111-2102070)

HYOSUNG CORPORATION(110111-0030497)

DAEHAN SYNTHETIC FIBER CO., LTD.(110111-0012437)

 

 

Related Parties (Subsidiaries, Joint-Venture & Affiliates)

 

Affiliates

WOONGJIN LOGISTICS CO., LTD.(184511-0004511)

(64.74% held by the subject company)

 

SAEHAN INFORMATION SYSTEM INC.(110111-1369465)

(30.0% held by the subject company)

 

WOONGJIN HOLDINGS CO., LTD.(110111-0346745)

WOONGJIN COWAY CO., LTD.(110111-0626501)

WOONGJIN THINKBIG CO., LTD.(284911-0065613)

WOONGJIN CHEMICAL CO., LTD(174811-0000151)

WOONGJIN FOOD CO., LTD.(115411-0000192)

BOOXEN CO., LTD(115611-0011369)

WOONGJIN HAPPYALL CO., LTD(110111-18813520

REXFIELD COUNTRY CLUB(131211-0017571)

WOONGJIN BOOKS CO., LTD.(110111-2268294)

WOONGJIN CUCHEN CO., LTD.(284411-0038595)

WOONGJIN CAPITAL CO., LTD(110111-3463950)

WOONGJIN ENERGY. CO., LTD(160111-0214702)

WOONGJIN POLYSILICON CO., LTD.(176011-0055332)

KUKDONG ENGINEERING & CONSTRUCTION CO., LTD.(110111-0027858)

HAPDUK INDUSTRIAL COMPLEX DEVELOPMENT CO., LTD.(110111-3453977)

KYUNG JUNG CO., LTD(110111-3734533)

WOONGJIN SYSTEM & TECHNOLOGY CO., LTD.(110111-3746067)

WOONGJIN PASSONE CO., LTD.(110111-1959183)

RENAISSANCE PRIVATE EQUITY I, L.P.(110113-0012590)

WOONGJIN LUCAS INVESTMENT ADVISOR CO., LTD.(11011-3961475)

LUCAS CONSULTING CO., LTD.(110111-3961475)

WOONGJIN MIRAE ACCOUNTING & TAX ACADEMY CO.,LTD(110111-3475509)

WOONGJIN VINA KOREA CO., LTD.(110111-3905225)

OCEAN SWEETS CO., LTD.(220111-006549)

WOONGJIN COWAY LIVING GOODS CO., LTD.

BEARPORT PUBLISHING COMPANY, INC.

Overseas Office

WOONGJIN CHEMICAL SHANGHAI CO., LTD.

RM.2307, INTERNATIONAL TRADE CENTER, 2200 YANAN RD. (W), SHANGHAI, CHINA 200339

TEL : +86-21-6219-0119 FAX : +86-21-6219-0116

 

QINGDAO OFFICE

RM. 405A, BLOCKB, FULLHOPE PLAZA, NO.12 HONGKONG MIDDLE RD., QINGDAO, SHANDONG, CHINA 266071

TEL : +86-532-502-8522 FAX : +86-532-502-8525

 

TIANJIN WOONGJIN CSM ECOTECH CO., LTD

NO.2 KEYUAN 4ST TEDA(JINNAN) MICRO-ELECTRONICS INDUSTRIAL AREA BALITAI-ZHEN

JINNAN-DISTRICT TIANJIN CHINA.

TEL : +86-22-2612-2264/9472/3039/4000 FAX : +86-22-2612-0588

 

P.T. WOONGJIN TEXTILES

KOREA CENTER, RM.604, 6TH FL., JL. GATOT SUBROTO KAV. 58, JAKARTA SELATAN 12950, INDONESIA

TEL : +62-21-522-3364/5 FAX : +62-21-522-3363

 

WOONGJIN CHEMICAL JAPAN OFFICE

7TH FL., AKASAKA HABITATION BLDG., 1-3-5, AKASAKA, MINATO-KU, TOKYO, 107-0052, JAPAN

TEL : +81-3-5114-5950,1 FAX : +81-3-3583-4361

 

WOONGJIN CHEMICAL HOCHIMIN OFFICE

516 CONG HOA ST. WARD 13, TAN BINH DIST., HOCHIMINH CITY, VIETNAM

TEL : +84-8-106831/2 FAX : +84-8-106-833

 

WOONGJIN CHEMICAL NEW DELHI OFFICE

NO. 203, MOHTA BUILDING, BHIKAJI CAMA PLACE, NEW DELHI-110066, INDIA

TEL : +91-11-4607-5120 FAX : +91-11-4607-4300

 

WOONGJIN CHEMICAL LA OFFICE

18552 MACARTHUR BLVD. #400 IRVINE, CA 92612

TEL : +1-949-922-6377

Liaison Office

 

Overseas Branch

 

Joint Venture

 

Subsidiary

WOONGJIN CHEMICAL SHANGHAI CO., LTD

(100.00% held by the subject company)

 

TIANJIN WOONGJIN CSM ECOTECH CO., LTD

(100.00% held by the subject company)

 

P.T. WOONGJIN TEXTILES

(90.34% held by the subject company)

 

WOONGJIN CHEMICAL AMERICA INC.

(100.00% held by the subject company)

Corporate Ownership

WOONGJIN HOLDINGS CO., LTD.(110111-0346745)

Major Shareholders

WOONGJIN HOLDINGS CO., LTD.(110111-0346745)

Cooperative Enterprise

 

 

Sales by Region (Activity & Markets)

 

Sales/ Unit :Mil KRW

09/2012

2011

2010

Export

497,851

695,274

582,831

Domestic

286,831

388,219

328,363

Total

784,682

1,083,493

911,194

The Subject exports to China, Japan, Europe and North America.

 

Court Action

 

Case No.

Court

Plaintiff(s)/ Creditor(s)/ Applicant(s)

Defendant(s)/ Debtor(s)/ Respondent(s)

Cause

Amount (KRW)

Status

 

Supreme Court of Korea

Mbro Co., Ltd.(131111-0043057)

The Subject Company

Claim for damages

635,276,000

3rd round is proceeding

 

Seoul Central District Court

Hyundai oil Refinery Co., ltd.(110111-0090558)

The Subject Company

Claim for Receivables

90,024,000

The Subject won as of 02/05/2014

 

Supreme Court of Korea

The Subject Company

Mbro Co., Ltd.(131111-0043057)

Claim for Receivables

99,876,000

3rd round is proceeding

 

Seoul Central District Court

The Subject Company

I Market Korea

Claim for Receivables

1,430,000,000

1st round is proceeding

 

 

News Clipping

 

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FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.44

UK Pound

1

Rs.98.64

Euro

1

Rs.78.20

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

SHG

 

               

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

 

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NB

New Business

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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%)

 

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