|
Report No. : |
318393 |
|
Report Date : |
18.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
TAE SIN
I&T CO. |
|
|
|
|
Registered Office : |
5-6, Dalgubeol-Daero 251an-Gil, Dalseo-Gu, Daegu, Rm.501, Shinhwa Bldg. Korea 704-940 |
|
|
|
|
Country : |
South
Korea |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
09.06.2008 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Manufacture of Machinery for Other Textiles, Apparel and Leather
Processing |
|
|
|
|
No. of Employees : |
4 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 economic 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. A system of close government and business ties, including
directed credit and import restrictions, initially 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 7% 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 over 6% growth in
2010. The US-Korea Free Trade Agreement was ratified by both governments in
2011 and went into effect in March 2012. Between 2012 and 2014, the economy
experienced sluggish growth because of external market slowdowns. The
administration in 2015 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 the heavy reliance on exports, which comprise about half of GDP
|
Source
: CIA |
|
Company Name |
TAE SIN
I&T CO. |
|
Registered Address |
5-6, Dalgubeol-daero 251an-gil, Dalseo-gu,
Daegu, Korea |
|
Building |
Rm.501, Shinhwa Bldg. |
|
Zip Code |
704-940 |
|
Tel |
+82-53-626-5761 |
|
Fax |
+82-53-626-5760 |
|
E-mail |
|
|
Website |
|
|
|
|
|
Trading Address |
Rm.501, Shinhwa Bldg., 5-6, Dalgubeol-daero
251an-gil, Dalseo-gu, Daegu, Korea (Old Address System : Rm.501, Shinhwa
Bldg., 1224-6, Igok 2-dong, Dalseo-gu, Daegu, Korea) |
|
Tel |
+82-53-626-5761 |
|
Fax |
+82-53-626-5760 |
|
|
|
|
Type |
Export |
|
Industry |
Manufacture of Machinery for Other Textiles, Apparel and Leather
Processing |
|
Main Business |
Fabric Needle Loom, Cord Knitting Machine,
Textile Machinery |
|
|
|
|
Established (mm/dd/yyyy) |
06/09/2008 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Textile processing machinery and accessories(23121500) |
|
Sell |
Textile working machinery and equipment and accessories(23121600) |
|
Sell |
Knitting machines(23121506) |
|
Name |
Jung Kyung-Sook |
|
Address |
|
|
Date of Birth |
11/09/1970 |
|
Title |
Owner |
|
Sex |
Female |
|
Nationality |
Korean |
|
Capital (KRW) |
Not Applicable to the Sole Proprietorship |
|
Employees |
4 |
|
Formation |
Sole Proprietorship |
|
Bank Details |
N/A |
|
Corporate Registered No. |
Not Applicable to the Sole Proprietorship |
|
Business Registered No. |
503-19-89***(The full 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 |
06/09/2008 Established as the present name |
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Owner |
M/S. |
Jung Kyung-Sook |
Female |
Korean |
06/09/2008 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2014 |
|
|
|
|
2013 |
2,228,368,000 |
202,556,000 |
52,844,000 |
|
2012 |
2,619,458,000 |
283,614,000 |
64,496,000 |
|
2011 |
2,385,504,000 |
165,124,000 |
55,122,000 |
|
2010 |
2,211,069,000 |
209,560,000 |
53,041,000 |
|
2009 |
2,107,000,000 |
167,000,000 |
25,000,000 |
The latest 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 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Total Assets |
202,556,000 |
283,614,000 |
165,124,000 |
|
Current Assets |
|
|
|
|
-Quick Assets |
|
|
|
|
-Inventories |
|
|
|
|
Fixed Assets |
|
|
|
|
-Investment |
|
|
|
|
-Tangibles |
|
|
|
|
-Intangibles |
|
|
|
|
Total Liabilities |
93,398,000 |
107,300,000 |
88,306,000 |
|
Current Liabilities |
|
|
|
|
Fixed Liabilities |
|
|
|
|
Capital Stock |
109,158,000 |
176,314,000 |
76,818,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
|
|
|
|
Capital Adjustment |
|
|
|
|
Total Equity |
109,158,000 |
176,314,000 |
76,818,000 |
|
Liab. & Shareholder’s Equity |
202,556,000 |
283,614,000 |
165,124,000 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Sales |
2,228,368,000 |
2,619,458,000 |
2,385,504,000 |
|
Cost of Sold Goods |
|
|
|
|
Gross Profit |
|
|
|
|
Selling & Admin. Expenses |
|
|
|
|
Operating Income |
60,925,000 |
71,492,000 |
62,945,000 |
|
Non-Operating Income |
|
|
|
|
Non-Operating Expenses |
|
|
|
|
Income Before Taxes |
|
|
|
|
Income Taxes Expenses |
|
|
|
|
Net Income |
52,844,000 |
64,496,000 |
55,122,000 |
|
Main Products & Services |
Fabric Needle Loom, Cord Knitting Machine,
Textile Machinery |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Competitors |
DONGSUNG
TEXTILE CO. 273, GEOMULDAE-RI,
DAEGOT-MYEON, GIMPO-SI, GYEONGGI-DO, KOREA TEL:+82-31-996-4321 FAX:+82-31-996-4319 TAEHO
MACHINERY CO., LTD. 1148,
JUNGNI-DONG, SEO-GU, DAEGU, KOREA TEL:+82-53-551-0163~6 FAX:+82-53-581-4202 TAEYEONG
MACHINERY CO., LTD. 137,
BONGAM-RI, EUNHYEON-MYEON, YANGJU-SI, GYEONGGI-DO, KOREA TEL:+82-31-865-4317 FAX:+82-31-865-4319 |
|
Overseas Office |
INDO TAESIN RUKO PLAZA DE
ESPANA, JL., KALIMANTAN NO. 57, LIPPO KARAWACI UTARA, TANGERANG, INDONEIA TEL:+62-21-5579-8971 FAX :+62-21-5579-8982 THAI TAESIN 1400 MOO7,
BANGKHUNTIEN-CHAITALAY ROAD, TAKHAM, BANGKHUNTIEN, BANGKOK 10150 THAILAND TEL:+66-2-897-3090 BANGLE
TAESIN FLAT NO.
102, BUILDING A-11, JAPAN GARDEN CITY LTD. MOHAMMAD PUR, DHAKA, BANGLADESH TEL:+880-19-3795-4546 |
The Subject exports to Indonesia, Thailand
and Bangladesh.
Not Available.
-------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.35 |
|
|
1 |
Rs.93.10 |
|
Euro |
1 |
Rs.67.13 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.