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Report No. : |
335075 |
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Report Date : |
01.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
CHUNG HAK F&C CO., LTD. |
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Registered Office : |
18-11, Nonggongdanji-Gil, Miyang-Myeon, Anseong-Si, |
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Country : |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
02.04.1983 |
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Com. Reg. No.: |
125-81-12181 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Manufacture and Wholesales of Other Food Proceed Materials |
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|
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No. of Employees : |
31 |
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 |
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Status : |
Satisfactory |
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|
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Payment Behaviour : |
No Complaints |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Korea (South) |
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 |
KOREA (SOUTH) - 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. 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 slow growth due to sluggish domestic consumption and investment. 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. In an effort to address the long term challenges and sustain economic growth, the current government has prioritized structural reforms, deregulation, promotion of entrepreneurship and creative industries, and the competitiveness of small and medium enterprises.
|
Source
: CIA |
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Company Name |
CHUNG HAK F&C CO., LTD. |
|
Registered Address |
18-11, Nonggongdanji-gil, Miyang-myeon, Anseong-si, Gyeonggi-do, Korea (Old Address System : 264-6, Gusu-ri,
Miyang-myeon, Anseong-si, Gyeonggi-do, Korea) |
|
Building |
|
|
Zip Code |
456-843 |
|
Tel |
+82-31-677-5631 |
|
Fax |
+82-31-677-5633 |
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E-mail |
ysb458@chfoods.co.kr |
|
Website |
www.chfoods.co.kr |
|
Trading Address |
2FL., Chunghak Bldg., 7, Banpo-daero
10-gil, Seocho-gu, Seoul, Korea (Old Address System : 2FL., Chunghak
Bldg., 1459-11, Seocho 3-dong, Seocho-gu, Seoul, Korea) |
|
Tel |
+82-2-587-5631 |
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Fax |
+82-2-587-3304 |
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Other Address |
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|
Tel |
|
|
Fax |
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Type |
Export/Import |
|
Industry |
Manufacture and Wholesales of Other Food Proceed Materials |
|
Main Business |
Frozen Vegetables, Pepper Paste, Sesame Powder, Edible Oil, Red Pepper
Powder |
|
Sub Business |
|
|
Established (mm/dd/yyyy) |
02/04/1983 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Frozen vegetables(50101539) |
|
Sell |
Frozen prepared soups or stews(50191506) |
|
Sell |
Spices or extracts(50171550) |
|
Sell |
Edible vegetable or plant oils(50151513) |
|
Name |
Yoon Hyun-Kil |
|
Address |
68, Bangbaejungang-ro 5-gil, Seocho-gu,
Seoul, Korea |
|
Date of Birth |
05/11/1952 |
|
Title |
Representative Director |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
540,000,000 |
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Employees |
31 |
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Formation |
Co., Ltd by Shares |
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Bank Details |
Woori Bank-Ansung Branch SC First bank of Korea-Seocho Nam Branch |
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Corporate Registered No. |
110111-0343543 |
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Business Registered No. |
125-81-12181 |
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Permit & Licenses |
02/23/2011 ISO 9001 02/22/2005 ISO9001 Int’l Trade No.: 870175 |
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Shareholder Position |
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Company History |
02/04/1983 Incorporated as Chung Hak Food
Naengjang Co., Ltd. 01/05/2004 Increased the authorized shares
to 480,000 shares from 48,000 shares 12/01/2006 Changed company name to the
present name 09/02/2008 Increased capital to 540,000,000
KRW from 360,000,000 KRW 05/26/2011 Designated as an INNO-BIZ Company |
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Representative Director |
Mr. |
Yoon Hyun-Kil |
Male |
Korean |
11/15/2013 |
|
Director |
M/S. |
Koo Myung-Ok |
Female |
Korean |
11/15/2013 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2014 |
17,173,020,000 |
8,580,374,000 |
210,482,000 |
|
2013 |
17,086,071,000 |
8,176,282,000 |
180,195,000 |
|
2012 |
13,445,347,000 |
7,475,661,000 |
171,990,000 |
|
2011 |
11,734,329,000 |
6,803,589,000 |
215,635,000 |
|
Authorized Capital(KRW) |
2,400,000,000 |
|
Paid-Up Capital(KRW) |
540,000,000 |
|
Total Issued Shares |
108,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total Assets |
8,580,374,000 |
8,176,282,000 |
7,475,661,000 |
|
Current Assets |
5,318,773,000 |
5,037,584,000 |
4,376,864,000 |
|
-Quick Assets |
- |
- |
- |
|
-Inventories |
- |
- |
- |
|
Fixed Assets |
3,261,601,000 |
3,138,698,000 |
3,098,797,000 |
|
-Investment |
- |
- |
- |
|
-Tangibles |
- |
- |
- |
|
-Intangibles |
- |
- |
- |
|
Total Liabilities |
5,902,747,000 |
5,709,137,000 |
5,188,711,000 |
|
Current Liabilities |
2,722,711,000 |
2,357,433,000 |
2,069,075,000 |
|
Fixed Liabilities |
3,180,036,000 |
3,351,704,000 |
3,119,636,000 |
|
Capital Stock |
540,000,000 |
540,000,000 |
540,000,000 |
|
Capital Surplus |
591,706,000 |
591,706,000 |
591,706,000 |
|
Profit Surplus |
1,545,921,000 |
1,335,439,000 |
1,155,244,000 |
|
Capital Adjustment |
|
|
|
|
Total Equity |
2,677,627,000 |
2,467,145,000 |
2,286,950,000 |
|
Liab. & Shareholder’s Equity |
8,580,374,000 |
8,176,282,000 |
7,475,661,000 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
17,173,020,000 |
17,086,071,000 |
13,445,347,000 |
|
Cost of Sold Goods |
14,597,218,000 |
14,605,304,000 |
11,583,622,000 |
|
Gross Profit |
2,575,802,000 |
2,480,767,000 |
1,861,725,000 |
|
Selling & Admin. Expenses |
2,139,203,000 |
2,076,657,000 |
1,495,120,000 |
|
Operating Income |
436,599,000 |
404,110,000 |
366,605,000 |
|
Non-Operating Income |
47,089,000 |
41,435,000 |
35,691,000 |
|
Non-Operating Expenses |
257,113,000 |
226,038,000 |
206,953,000 |
|
Income Before Taxes |
226,575,000 |
219,507,000 |
195,343,000 |
|
Income Taxes Expenses |
16,093,000 |
39,312,000 |
23,353,000 |
|
Net Income |
210,482,000 |
180,195,000 |
171,990,000 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Cash Flows from Operating |
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|
|
|
-Net Income |
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-Exp. without Cash Outflow |
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-Revenue without Cash Inflows |
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-Changes in Asset/ & Liability |
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Cash Flows from Investing |
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-Cash Inflow from Investing |
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-Cash Outflows for Investing |
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Cash Flows from Financing |
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-Cash Inflows from Financing |
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-Cash Outflows from Financing |
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Increase/Decrease in Cash |
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Cash at the Beginning of Year |
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Cash at the End of Year |
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Main Products & Services |
Frozen Vegetables, Pepper Paste, Sesame Powder, Edible Oil, Red Pepper
Powder |
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Detailed Products Spec. |
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Technologies Acquired |
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Suppliers |
|
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Customers |
LOTTE FOOD CO., LTD.(110111-0033722) |
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Competitors |
KOHO INTERNATIONAL CO., LTD. 6TH FL., BOOKOOK SECURITIES CO. BLDG.,
34-2, YEOEUIDO-DONG, YEONGDEUNGPO-GU, SEOUL, KOREA TEL:+82-2-785-9002 FAX:+82-2-785-9007 YONSEI FOOD SUPPLY CORP. RM. 102, HYUNDAI YUNIVILL, 502-30, GALHYEON
2-DONG, EUNPYEONG-GU, SEOUL, KOREA TEL:+82-2-358-0352 FAX:+82-2-383-7173 A-ONE FOOD CO., LTD. 62-60, BONGILCHEON 5-RI, JORI-EUP, PAJU-SI,
GYEONGGI-DO, KOREA TEL:+82-31-949-0890 FAX:+82-31-949-0892 |
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Affiliates |
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Overseas Office |
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Liaison Office |
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Overseas Branch |
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Joint Venture |
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Subsidiary |
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Corporate Ownership |
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Major Shareholders |
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Cooperative Enterprise |
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Sales/ Unit :Mil KRW |
2014 |
2013 |
2012 |
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Export |
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Domestic |
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Total |
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Not Available.
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Case No. |
Court |
Plaintiff(s)/ Creditor(s)/
Applicant(s) |
Defendant(s)/
Debtor(s)/ Respondent(s) |
Cause |
Amount (Million KRW) |
Status |
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Not Available.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.01 |
|
UK Pound |
1 |
Rs.99.84 |
|
Euro |
1 |
Rs.70.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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 |
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|
-- |
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.