|
Report Date : |
27.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
ASAN
TRADING CO., LTD. |
|
|
|
|
Registered Office : |
9-23, Gangnam-daero 95-gil, Seocho-gu, Seoul, Korea, Rm. 701, Hwasin Bldg., 137-904 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
07.02.2002 |
|
|
|
|
Com. Reg. No.: |
114-86-16289 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Wholesale of Textiles and Threads |
|
|
|
|
No. of Employees : |
5 |
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 : |
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) |
|
Korea (South) |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
KOREA (SOUTH) - 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
|
Company
Name |
ASAN
TRADING CO., LTD. (Korean Company Name : “(주)아산트레이딩”) |
|
Registered Address |
9-23, Gangnam-daero 95-gil, Seocho-gu,
Seoul, Korea |
|
Building |
Rm. 701, Hwasin Bldg. |
|
Zip Code |
137-904 |
|
Tel |
+82-2-3442-2968 |
|
Fax |
+82-2-3442-2986 |
|
E-mail |
asan67@hanmail.net |
|
Trading Address |
Rm. 701, Hwasin Bldg., 9-23, Gangnam-daero
95-gil, Seocho-gu, Seoul, Korea (Old Address System : Rm. 701, Hwasin
Bldg., 28-2, Jamwon-dong, Seocho-gu, Seoul, Korea) |
|
Tel |
+82-2-3442-2968 |
|
Fax |
+82-2-3442-2986 |
|
Type |
Import |
|
Industry |
Wholesale of Textiles and Threads |
|
Main Business |
Cotton Yarns, Textile, Fabric |
|
Established (mm/dd/yyyy) |
02/07/2002 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Cotton fabrics(11161700) |
|
Sell |
Synthetic fabrics(11161800) |
CEO’s
|
Name |
Jung Oh-Chae |
|
Address |
Suite 130-602, 30, Bojeong-ro, Giheung-gu,
Yongin-si, Gyeonggi-do, Korea |
|
Date of Birth |
07/15/1967 |
|
Title |
Representative Director |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
200,000,000 |
|
Employees |
5 |
|
Formation |
Co., Ltd by Shares |
|
Bank Details |
Shinhan Bank-Shinsa Dong Branch |
|
Corporate Registered No. |
110111-2444050 |
|
Business Registered No. |
114-86-16289 |
|
Permit & Licenses |
Int’l Trade No.: 45115158 |
|
Shareholder Position |
N/A |
|
Company History |
02/07/2002 Incorporated as the present name 11/20/2003 Moved to the present HQ address
from 39-5, , Jamwon-dong, Seocho-gu, Seoul, Korea 04/13/2006 Increased capital to 200,000,000 KRW from 150,000,000 KRW |
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Representative Director |
Mr. |
Jung Oh-Chae |
Male |
Korean |
02/23/2014 |
|
Auditor |
Mr. |
Hong Geo-Pyo |
Male |
Korean |
02/07/2005 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2013 |
30,212,000,000 |
9,736,000,000 |
238,000,000 |
|
2012 |
33,951,000,000 |
9,327,000,000 |
654,000,000 |
|
2011 |
37,136,000,000 |
8,447,000,000 |
353,000,000 |
|
2010 |
42,903,000,000 |
N/A |
N/A |
|
2009 |
39,001,000,000 |
N/A |
N/A |
|
2008 |
34,449,000,000 |
8,456,000,000 |
540,000,000 |
Financial
Description
|
Authorized Capital(KRW) |
400,000,000 |
|
Paid-Up Capital(KRW) |
200,000,000 |
|
Total Issued Shares |
40,000 |
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Total Assets |
9,736,000,000 |
9,327,000,000 |
8,447,000,000 |
|
Current Assets |
9,332,000,000 |
8,738,000,000 |
7,870,000,000 |
|
-Quick Assets |
- |
- |
- |
|
-Inventories |
- |
- |
- |
|
Fixed Assets |
405,000,000 |
589,000,000 |
578,000,000 |
|
-Investment |
- |
- |
- |
|
-Tangibles |
- |
- |
- |
|
-Intangibles |
- |
- |
- |
|
Total Liabilities |
6,168,000,000 |
5,890,000,000 |
5,502,000,000 |
|
Current Liabilities |
6,068,000,000 |
5,801,000,000 |
5,235,000,000 |
|
Fixed Liabilities |
101,000,000 |
89,000,000 |
267,000,000 |
|
Capital Stock |
200,000,000 |
200,000,000 |
200,000,000 |
|
Capital Surplus |
- |
- |
- |
|
Profit Surplus |
- |
- |
- |
|
Capital Adjustment |
- |
- |
- |
|
Total Equity |
3,568,000,000 |
3,437,000,000 |
2,946,000,000 |
|
Liab. & Shareholder’s Equity |
9,736,000,000 |
9,327,000,000 |
8,447,000,000 |
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Sales |
30,212,000,000 |
33,951,000,000 |
37,136,000,000 |
|
Cost of Sold Goods |
28,678,000,000 |
32,316,000,000 |
35,339,000,000 |
|
Gross Profit |
1,534,000,000 |
1,635,000,000 |
1,797,000,000 |
|
Selling & Admin. Expenses |
1,081,000,000 |
1,126,000,000 |
1,327,000,000 |
|
Operating Income |
453,000,000 |
509,000,000 |
470,000,000 |
|
Non-Operating Income |
593,000,000 |
824,000,000 |
762,000,000 |
|
Non-Operating Expenses |
739,000,000 |
617,000,000 |
846,000,000 |
|
Income Before Taxes |
307,000,000 |
716,000,000 |
386,000,000 |
|
Income Taxes Expenses |
69,000,000 |
62,000,000 |
34,000,000 |
|
Net Income |
238,000,000 |
654,000,000 |
353,000,000 |
Products,
Technologies, Services Description
|
Main Products & Services |
Cotton Yarns, Textile, Fabric |
Trade Partners
& Competitors
|
Competitors |
DO BEST CO., LTD. 105-112, GONGDEOK-DONG, MAPO-GU, SEOUL,
KOREA TEL:+82-2-3271-3800 FAX:+82-2-3271-3899 DREAM SEEKERS INC. RM. 2410, MASTERS TOWER BLDG., 553, DOHWA-DONG,
MAPO-GU, SEOUL, KOREA TEL:+82-2-3275-5111~2 FAX:+82-2-3275-5113 HANWOO CORPORATION 4TH FL., 322-21, HAENGDANG 2-DONG,
SEONGDONG-GU, SEOUL, KOREA TEL:+82-2-2299-9100~8 FAX:+82-2-2299-9109 |
Not Available.
Not Available.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.57 |
|
|
1 |
Rs.100.42 |
|
Euro |
1 |
Rs.78.44 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
PDT |
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.