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Report No. : |
319030 |
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Report Date : |
23.04.2015 |
IDENTIFICATION DETAILS
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Name : |
FIBERTECH CO. |
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|
|
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Registered Office : |
93, Olympic-Ro 35-Gil, Songpa-Gu, Seoul, Rm.101-404, The Sharp Star Liver APT. Korea 138-240 |
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Country : |
South
Korea |
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|
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
19.11.2007 |
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Com. Reg. No.: |
215-19-54677 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale of Materials for Recycling and Other Specialized Goods
n.e.c. |
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|
|
No. of Employees : |
3 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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|
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Payment Behaviour : |
Slow but correct |
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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 |
FIBERTECH CO. |
|
Registered Address |
93,
Olympic-ro 35-gil, Songpa-gu, Seoul, Korea |
|
Building |
Rm.101-404, The Sharp Star Liver APT. |
|
Zip Code |
138-240 |
|
Tel |
+82-2-408-0670 |
|
Fax |
+82-2-408-0671 |
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E-mail |
|
|
Website |
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Trading Address |
Rm.101-404, The Sharp Star Liver APT.,93, Olympic-ro
35-gil, Songpa-gu, Seoul, Korea (Old Address System : Rm.101-404, The Sharp Star
Liver APT.,11-8, Sincheon-dong, Songpa-gu, Seoul, Korea) |
|
Tel |
+82-2-408-0670 |
|
Fax |
+82-2-408-0671 |
|
|
|
|
Type |
Export |
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Industry |
Wholesale of Materials for Recycling and Other Specialized Goods
n.e.c. |
|
Main Business |
UDPP Fiber, Glass Fiber, Carbon Fiber |
|
|
|
|
Established (mm/dd/yyyy) |
11/19/2007 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Glass fibers(11151512) |
|
Name |
Kong Jung-Ae |
|
Address |
|
|
Date of Birth |
05/15/1965 |
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Title |
Owner |
|
Sex |
Female |
|
Nationality |
Korean |
|
Capital (KRW) |
Not Applicable to
the Sole Proprietorship |
|
Employees |
3 |
|
Formation |
Sole Proprietorship |
|
Bank Details |
N/A |
|
Corporate Registered No. |
Not Applicable to the Sole Proprietorship |
|
Business Registered No. |
215-19-54677 |
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Permit & Licenses |
N/A |
|
Shareholder Position |
The owner has 100% shares. |
|
Company History |
11/19/2007 Established as YUCHANG CARBON
CO. 11/2013 Changed company name to the present
name |
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Owner |
M/S. |
Kong Jung-Ae |
Female |
Korean |
11/19/2007 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2014 |
|
|
|
|
2013 |
607,922,000 |
127,252,000 |
6,482,000 |
|
2012 |
732,084,000 |
57,277,000 |
26,543,000 |
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 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
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Total Assets |
|
127,252,000 |
57,277,000 |
|
Current Assets |
|
|
|
|
-Quick Assets |
|
|
|
|
-Inventories |
|
|
|
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Fixed Assets |
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|
|
|
-Investment |
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|
|
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-Tangibles |
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|
|
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-Intangibles |
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|
|
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Total Liabilities |
|
54,157,000 |
12,263,000 |
|
Current Liabilities |
|
|
|
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Fixed Liabilities |
|
|
|
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Capital Stock |
|
73,095,000 |
45,014,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
|
|
|
|
Capital Adjustment |
|
|
|
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Total Equity |
|
73,095,000 |
45,014,000 |
|
Liab. & Shareholder’s Equity |
|
127,252,000 |
57,277,000 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
|
607,922,000 |
732,084,000 |
|
Cost of Sold Goods |
|
|
|
|
Gross Profit |
|
|
|
|
Selling & Admin. Expenses |
|
|
|
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Operating Income |
|
6,462,000 |
26,523,000 |
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Non-Operating Income |
|
|
|
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Non-Operating Expenses |
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|
|
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Income Before Taxes |
|
|
|
|
Income Taxes Expenses |
|
|
|
|
Net Income |
|
6,482,000 |
26,543,000 |
|
Main Products & Services |
UDPP Fiber, Glass Fiber, Carbon Fiber |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Competitors |
ARION CO., LTD. B-730, SIGMA
2 OFFICETEL, 164, TANCHEONSANG-RO,BUNDANG-GU, SEONGNAM-SI,GYEONGGI-DO, KOREA TEL:+82-31-718-7481 FAX:+82-31-718-7483 TOKAI CARBON
KOREA CO., LTD. ANSEONG
INDUSTRIAL COMPLEX 2, 271-2, GYEREUK-RI, MIYANG-MYEON, ANSEONG-SI,
GYEONGGI-DO, KOREA TEL:+82-31-677-0277 FAX:+82-31-677-0276 ONSE INC. 264,
SUCHAM-RI, TONGJIN-EUP, GIMPO-SI, GYEONGGI-DO, KOREA TEL:+82-31-981-4506 FAX:+82-31-981-4507 |
The Subject exports
to Germany, UK and France.
Not Available.
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.82 |
|
|
1 |
Rs.93.85 |
|
Euro |
1 |
Rs.67.59 |
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 |
|
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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 |
|
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.