MIRA INFORM REPORT

 

 

Report No. :

320724

Report Date :

30.04.2015

 

IDENTIFICATION DETAILS

 

Name :

M TECH PRECISION MOLD CO., LTD.

 

 

Registered Office :

11, Seounsaneop-ro 50beon-gil, Gyeyang-gu, Incheon 407-070

 

 

Country :

South Korea

 

 

Date of Incorporation :

26.10.2012

 

 

Com. Reg. No.:

122-86-27

 

 

Legal Form :

Co., Ltd by Shares

 

 

Line of Business :

Manufacture of Moulding Patterns, Moulds and Industrial Patterns

 

 

No of Employees :

6

 

 

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 :

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 – 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 Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

B2

Moderate High Risk

 

C1

High Risk

C2

Very High Risk

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

 

Basic Information

 

Basic

 

Company Name

M TECH PRECISION MOLD CO., LTD.

(Korean Company Name : “(주)엠텍정공”)

Registered Address

11, Seounsaneop-ro 50beon-gil, Gyeyang-gu, Incheon, Korea

Building

 

Zip Code

407-070

Tel

+82-32-345-7083

Fax

+82-32-345-7085

E-mail

 

Website

 

Trading Address

11, Seounsaneop-ro 50beon-gil, Gyeyang-gu, Incheon, Korea

(Old Address System : 148-50, Seoun-dong, Gyeyang-gu, Incheon, Korea)

Tel

+82-32-345-7083

Fax

+82-32-345-7085

Other Address

 

Tel

 

Fax

 

Type

Export/Import

Industry

Manufacture of Moulding Patterns, Moulds and Industrial Patterns

  Main Business

Mold, Ejection Services

  Sub Business

 

Established (mm/dd/yyyy)

10/26/2012

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Mold

Sell

Plastic injection molds(23151514)

 

CEO’s

 

Name

Chae Soo-Jong

Address

Suite 308-403, 142, Gyeyangmunhwa-ro, Gyeyang-gu, Incheon, Korea

Date of Birth

06/21/1962

Title

President & CEO

Sex

Male

Nationality

Korean

 

Profiles

 

Capital (KRW)

100,000,000

Employees

6

Formation

Co., Ltd by Shares

Bank Details

N/A

Corporate Registered No.

120111-0632233

Business Registered No.

122-86-27***(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

N/A

Company History

10/26/2012 Incorporated as the present name

 

 

 

 

Detailed Information

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

Mr.

Chae Soo-Jong

Male

Korean

03/13/2015

Director

Mr.

Chae Soo-Ho

Male

Korean

03/13/2015

Director

Mr.

Lee Jong-Ho

Male

Korean

03/13/2015

Auditor

Mr.

Kim In-Soon

Male

Korean

03/13/2015

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2014

 

 

 

2013

 

 

 

2012

 

 

 

The financials are not available, and the Subject Company does not have any obligations to release its financials to the public.

 

Financial Description

 

Authorized Capital(KRW)

400,000,000

Paid-Up Capital(KRW)

100,000,000

Total Issued Shares

20,000

 

 

Products, Technologies, Services Description

 

Main Products & Services

Mold, Ejection Services

Detailed Products Spec.

 

Technologies Acquired

 

 

Trade Partners & Competitors

 

Suppliers

 

Customers

 

Competitors

KEI U CORPORATION

565-15, GYESU-DONG, SIHEUNG-SI, GYEONGGI-DO, KOREA

TEL:+82-31-224-3945  FAX:+82-31-224-3946

 

HWA SUNG TECH

206-1, DALCHEON-DONG, BUK-GU, ULSAN, KOREA

TEL:+82-52-282-4734  FAX:+82-52-282-4738

 

HYESUNG PRECISION CO.

1768-10, SONGJEONG-DONG, GANGSEO-GU, BUSAN, KOREA

TEL:+82-51-831-4975  FAX:+82-51-831-4985

 

Related Parties (Subsidiaries, Joint-Venture & Affiliates)

 

Affiliates

M TECH PRECISION CO.(130-28-41285)

Overseas Office

 

Liaison Office

 

Overseas Branch

 

Joint Venture

 

Subsidiary

 

Corporate Ownership

 

Major Shareholders

 

Cooperative Enterprise

 

 

Sales by Region (Activity & Markets)

 

Sales/ Unit :Mil KRW

2014

2013

2012

Export

 

 

 

Domestic

 

 

 

Total

 

 

 

Not Available.

 

Court Action

 

Case No.

Court

Plaintiff(s)/ Creditor(s)/ Applicant(s)

Defendant(s)/ Debtor(s)/ Respondent(s)

Cause

Amount (Million KRW)

Status

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Not Available.

 

News Clipping

 

--

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 63.20

UK Pound

1

Rs. 97.00

Euro

1

Rs. 69.33

 

INFORMATION DETAILS

 

Analysis Done by :

KRN

 

 

Report Prepared by :

DPT

 

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.