MIRA INFORM REPORT

 

 

Report Date :

25.09.2014

 

IDENTIFICATION DETAILS

 

Name :

BITGARAM AGRICULTURAL CORPORATION

 

 

Registered Office :

Rm.8-221, Industrial Materials Yutong Center 502-153, 53, Maewol 2-ro, Seo-Gu, Gwangju, Korea

 

 

Country :

South Korea

 

 

Date of Incorporation :

29.07.2014

 

 

Legal Form :

Agricultural Corporation

 

 

Line of Business :

Manufacture of Bread, Cookies, Edible Oil and Agricultural Products

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

 

--

NB

New Business

 

--

 

Status :

New Business

 

 

Payment Behaviour :

Unknown

 

 

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

 

Company Name

BITGARAM AGRICULTURAL CORPORATION

Registered Address

53, Maewol 2-ro, Seo-gu, Gwangju, Korea

Building

Rm.8-221, Industrial Materials Yutong Center

Zip Code

502-153

Tel

N/A

Fax

N/A

 

 

Trading Address

Rm.8-221, Industrial Materials Yutong Center, 53, Maewol 2-ro, Seo-gu, Gwangju, Korea

(Old Address System : Rm.8-221, Industrial Materials Yutong Center, 948, Maewol-dong, Seo-gu, Gwangju, Korea)

Tel

N/A

Fax

N/A

 

 

Type

Export/Import

Industry

Manufacture of Bread, Cookies, Edible Oil and Agricultural Products

  Main Business

Rice Cake, Bread, Cookies, Edible Oil, Cereal

  Sub Business

Wholesales of Fruit and Vegetable, Agricultural Products

 

 

Established (mm/dd/yyyy)

07/29/2014

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Edible vegetable or plant fats(50151514)

Sell

Bread and biscuits and cookies(50181900)

Sell

Cakes and pies and pastries(50182000)

 

 

CEO’s

 

Name

Jung Sung-Ki

Address

Suite 308-403, 10, Bungmun-daero 98beon-gil, Buk-gu, Gwangju, Korea

Date of Birth

01/18/1972

Title

President & CEO

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

100,000,000

Employees

N/A

Formation

Agricultural Corporation

Bank Details

N/A

Corporate Registered No.

200111-0403611

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

N/A

Company History

07/29/2014 Incorporated as the present name

 

 

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

Mr.

Jung Sung-Ki

Male

Korean

07/29/2014

Director

Mr.

Park Dong-Soo

Male

Korean

07/29/2014

Director

Mr.

Kang Hyo-Geun

Male

Korean

07/29/2014

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2014

 

 

 

 

 

Financial Description

 

Authorized Capital(KRW)

5,000,000,000

Paid-Up Capital(KRW)

100,000,000

Total Issued Shares

10,000

 

 

Products, Technologies, Services Description

 

Main Products & Services

Rice Cake, Bread, Cookies, Edible Oil, Cereal

Detailed Products Spec.

--

Technologies Acquired

--

 

 

Trade Partners & Competitors

 

Suppliers

--

Customers

--

Competitors

BORA CO., LTD.

4TH FL., DAEWON BLDG., 1006-17, DAECHI 3-DONG, GANGNAM-GU, SEOUL, KOREA

TEL:+82-2-538-3373  FAX:+82-2-538-0470

 

ALDENTE CO., LTD.

1130-5, BONGDEOK 2-DONG, NAM-GU, DAEGU, KOREA

TEL:+82-53-475-9990

 

YOUNG IN CORPORATION

RM. 1108, KRANZ TECHNO, 5442-1, SANGDAEWON 1-DONG, JUNGWON-GU, SEONGNAM-SI, GYEONGGI-DO, KOREA

TEL:+82-31-777-8766~8  FAX:+82-31-777-8769

 

 

Related Parties (Subsidiaries, Joint-Venture & Affiliates)

 

--------

 

 

Sales by Region (Activity & Markets)

 

Not Available.

 

 

Court Action

 

Not Available.

 

 

News Clipping

 

--------

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.03

UK Pound

1

Rs.99.99

Euro

1

Rs.78.37

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

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%)

 

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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.