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Report No. : |
320790 |
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Report Date : |
30.04.2015 |
IDENTIFICATION DETAILS
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Name : |
HUMADE CORPORATION |
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Registered Office : |
331, Dongmak-Ro, Mapo-Gu, Seoul, Rm. 1810, Masters Tower
Bldg., Zip Code 121-748 |
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Country : |
South Korea |
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Date of Incorporation : |
26.04.2004 |
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Com. Reg. No.: |
105-86-66524 |
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Legal Form : |
Co., Ltd., by shares |
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Line of Business : |
Wholesaler of Acetone, MC (Methylene
Chloride), Acrylic Acid, MDI (Methylene Diphenyl Diisocyanate), Adipic Acid,
MIBK (Methyl Isobutyl Ketone), BPA (Bisphenol-A), MPG (Mono Propylene
Glycol), Butyl Acrylate, PE (Poly Ethylene), DBP (Di-butyl Phthalate), PET
(Poly Ethylene Terephthalate), DINP (Di-isononyl Phthalate), Pentaerythritol,
DMC (Di-methyl Carbonate), Phenol, DOA (Di-octyl Adipate), Polyol, DOP
(Di-octyl Phthalate), PP (Poly Propylene), DOTP (Di-Octyl Terephthalate), PTA
(Purified Terephthalic Acid), DPHP (Di-Propyle Hexyl Phthalate), PT-MEG
(Polytetrametylene Ether Glycol), DL-Malic Acid, PVC (Polyvinyl Chloride), EG
(Ethylene Glycol), PA (Phthalic Anhydride), Epoxy Resin, TDI (Toluene
Diisocyanate), Fumaric Acid, THF (Tetrahydrofuran), Glycerin, THPA
(Tetrahydrophthalic Anhydride), IPA (Purified Isophthalic Acid), TOTM
(Trioctyl Trimelliate) & MA (Maleic Anhydride) |
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No of Employees : |
09 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
|
Company Name |
HUMADE CORPORATION |
|
Registered Address |
331, Dongmak-ro, Mapo-gu, Seoul, Korea |
|
Building |
Rm.
1810, Masters Tower Bldg. |
|
Zip Code |
121-748 |
|
Tel |
+82-2-3275-5155~8 |
|
Fax |
+82-2-3275-5157 |
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E-mail |
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|
Website |
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Trading
Address |
Rm. 1810, Masters Tower Bldg., 331,
Dongmak-ro, Mapo-gu, Seoul, Korea (Old Address System : Rm. 1810, Masters Tower Bldg., 553, Dohwa
1-dong, Mapo-gu, Seoul, Korea) |
|
Tel |
+82-2-3275-5155~8 |
|
Fax |
+82-2-3275-5157 |
|
|
|
|
Type |
Import/Export |
|
Main Business |
Wholesaler
of Acetone, MC (Methylene Chloride), Acrylic Acid, MDI (Methylene
Diphenyl Diisocyanate), Adipic Acid, MIBK (Methyl Isobutyl Ketone), BPA
(Bisphenol-A), MPG (Mono Propylene Glycol), Butyl Acrylate, PE (Poly
Ethylene), DBP (Di-butyl Phthalate), PET (Poly Ethylene Terephthalate), DINP
(Di-isononyl Phthalate), Pentaerythritol, DMC (Di-methyl Carbonate), Phenol,
DOA (Di-octyl Adipate), Polyol, DOP (Di-octyl Phthalate), PP (Poly
Propylene), DOTP (Di-Octyl Terephthalate), PTA (Purified Terephthalic Acid),
DPHP (Di-Propyle Hexyl Phthalate), PT-MEG (Polytetrametylene Ether Glycol),
DL-Malic Acid, PVC (Polyvinyl Chloride), EG (Ethylene Glycol), PA (Phthalic
Anhydride), Epoxy Resin, TDI (Toluene Diisocyanate), Fumaric Acid, THF
(Tetrahydrofuran), Glycerin, THPA (Tetrahydrophthalic Anhydride), IPA
(Purified Isophthalic Acid), TOTM (Trioctyl Trimelliate) & MA (Maleic
Anhydride) |
|
Established (mm/dd/yyyy) |
04/26/2004 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Rubber
compound(13101607) |
|
Sell |
Processed
and synthetic rubber(13101600) |
|
Sell |
Chemicals
including Bio Chemicals and Gas Materials(12000000) |
|
Name |
Kim
Cheol-Ho |
|
Address |
Suite 103-303, 75, Nohae-ro 63-gil,
Dobong-gu, Seoul, Korea |
|
Date of Birth |
04/07/1964 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
290,000,000 |
|
Employees |
9 |
|
Formation |
Co., Ltd., by shares |
|
Bank Details |
Shinhan Bank Nonghyup Bank-Gwangyang Branch Korea Exchange Bank |
|
Corporate Registered No. |
110111-3000538 |
|
Business Registered No. |
105-86-66524 |
|
Permit & Licenses |
Int’l
Trade No.: 45160541 |
|
Shareholder Position |
N/A |
|
Company History |
04/26/2004 Incorporated as the present
name 12/28/2005 Increased capital to 100,000,000KRW from 50,000,000 KRW 08/20/2007 Moved to the present HQ address from Rm. 1505, Masters
Tower Bldg., 553, Dohwa 1-dong, Mapo-gu, Seoul, Korea 08/05/2008 Increased the authorized shares to 200,000 shares from 40,000
shares 08/13/2008 Increased capital to 200,000,000 KRW from 100,000,000 KRW 08/12/2010 Moved to the present HQ address from Rm. 2310, Masters
Tower Bldg., 553, Dohwa 1-dong, Mapo-gu, Seoul, Korea 09/26/2014
Increased capital to 290,000,000 KRW
from 200,000,000 KRW |
|
|
|
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Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
President
& CEO |
Mr. |
Kim Cheol-Ho |
Male |
Korean |
04/26/2004 |
|
Director |
Mr. |
Kang Dong-Gu |
Male |
Korean |
04/26/2004 |
|
Auditor |
M/S |
Kim Jeong-Sook |
Female |
Korean |
04/26/2004 |
|
Year / Unit
: KRW |
Sales |
Assets |
Net Income |
|
2009 |
38,510,020,000 |
|
284,020,000 |
|
2008 |
45,357,880,000 |
3,740,000,000 |
356,790,000 |
|
2007 |
42,568,230,000 |
3,263,000,000 |
212,000,000 |
|
2006 |
24,801,990,000 |
2,386,000,000 |
73,000,000 |
|
2005 |
15,218,000,000 |
1,007,000,000 |
54,000,000 |
|
2004 |
9,700,000,000 |
|
|
The full financials
are not available, and the Subject Company does not have any obligations to release
its financials to the public.
|
Authorized Capital(KRW) |
1,000,000,000 |
|
|
|
|
Paid-Up Capital(KRW) |
290,000,000 |
|
|
|
|
Total Issued Shares |
58,000 |
|
Main Products & Services |
Acetone, MC (Methylene Chloride), Acrylic Acid, MDI (Methylene
Diphenyl Diisocyanate), Adipic Acid, MIBK (Methyl Isobutyl Ketone), BPA
(Bisphenol-A), MPG (Mono Propylene Glycol), Butyl Acrylate, PE (Poly
Ethylene), DBP (Di-butyl Phthalate), PET (Poly Ethylene Terephthalate), DINP
(Di-isononyl Phthalate), Pentaerythritol, DMC (Di-methyl Carbonate), Phenol,
DOA (Di-octyl Adipate), Polyol, DOP (Di-octyl Phthalate), PP (Poly
Propylene), DOTP (Di-Octyl Terephthalate), PTA (Purified Terephthalic Acid),
DPHP (Di-Propyle Hexyl Phthalate), PT-MEG (Polytetrametylene Ether Glycol),
DL-Malic Acid, PVC (Polyvinyl Chloride), EG (Ethylene Glycol), PA (Phthalic
Anhydride), Epoxy Resin, TDI (Toluene Diisocyanate), Fumaric Acid, THF
(Tetrahydrofuran), Glycerin, THPA (Tetrahydrophthalic Anhydride), IPA
(Purified Isophthalic Acid), TOTM (Trioctyl Trimelliate) & MA (Maleic
Anhydride) |
|
Customers |
OCI CO., LTD.(174611-0000981) YONGSAN CHEMICALS, INC.(110111-0145709) KOREA
KUMHO PETRO CHEMICAL CO., LTD.(110111-0205975) |
|
Competitors |
HEARTYCHEM
CORP. RM. 1806,
KOREA TRADE TOWER, 159-1, SAMSEONG 1-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-6000-0886 FAX:+82-2-6000-0888 DYM CO.,
LTD. 624-2, EOPSEONG-DONG,
SEOBUK-GU, CHEONAN-SI, CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-621-6250 FAX:+82-41-621-8420 JUNGWOO
TRADING CO., LTD. 869-11,
EOGOK-DONG, YANGSAN-SI, GYEONGSANGNAM-DO, KOREA TEL:+82-55-386-5003 FAX:+82-55-364-1778 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.20 |
|
|
1 |
Rs.97.10 |
|
Euro |
1 |
Rs.69.34 |
INFORMATION DETAILS
|
Report Prepared
by : |
VNT |
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 |
-- |
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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.