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Report No. : |
354184 |
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Report Date : |
08.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
HANAM PRECISION CO., LTD. |
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|
|
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Registered Office : |
52, Jingoksandan 2beon-ro, Gwangsan-gu,
Gwangju, Korea 62207 |
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|
|
|
Country : |
South Korea |
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|
|
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Date of Incorporation : |
28.12.2011 |
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|
|
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Com. Reg. No.: |
410-86-56952 |
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|
|
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Legal Form : |
Co., Ltd by Shares |
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|
|
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Line of Business : |
·
Manufacture
of Other Electric Motors, Generators and Transformers (Electric and Electronic Components) · Wholesales and Retails of Home Appliances |
|
|
|
|
No. of Employees : |
Not Available |
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 |
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|
|
|
Payment Behaviour : |
Unknown |
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|
|
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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) |
|
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. 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 |
|
Company Name |
HANAM PRECISION CO., LTD. |
|
Registered Address |
52, Jingoksandan 2beon-ro, Gwangsan-gu,
Gwangju, Korea |
|
Building |
|
|
Zip Code |
62207 |
|
Tel |
+82-62-956-6507 |
|
Fax |
+82-62-956-6508 |
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E-mail |
|
|
Website |
|
|
Trading
Address |
52, Jingoksandan 2beon-ro, Gwangsan-gu, Gwangju, Korea (Old Address System : 562, Oseon-dong, Gwangsan-gu, Gwangju, Korea) |
|
Tel |
+82-62-956-6507 |
|
Fax |
+82-62-956-6508 |
|
Other
Address |
|
|
Tel |
|
|
Fax |
|
|
Type |
Export/Import |
|
Industry |
Manufacture of Other Electric Motors, Generators and
Transformers |
|
Main Business |
Electric and Electronic Components |
|
Sub
Business |
Wholesales and Retails of Home Appliances |
|
Established (mm/dd/yyyy) |
12/28/2011 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Electrical components(25173900) |
|
Sell |
Electronic component parts and raw materials
and accessories(32131000) |
|
Name |
Ha
Jung-Hong |
|
Address |
Suite 105-606, 195, Daecheon-ro, Buk-gu,
Gwangju, Korea |
|
Date of Birth |
06/25/1955 |
|
Title |
Representative Director |
|
Nationality |
Korean |
|
Capital (KRW) |
50,000,000 |
|
Employees |
N/A |
|
Formation |
Co.,
Ltd by Shares |
|
Bank Details |
N/A |
|
Corporate Registered No. |
200111-0333165 |
|
Business Registered No. |
410-86-56952 |
|
Permit & Licenses |
N/A |
|
Shareholder Position |
N/A |
|
Company History |
12/28/2011 Incorporated as the present name 02/11/2014 Moved to the present HQ address
from 127-36, Hanamsandan 8beon-ro, Gwangsan-gu, Gwangju, Korea |
|
|
|
|
Job
Description |
Name |
Nationality |
Date of
Birth |
Inauguration
Date |
|
Representative Director |
Ha
Jung-Hong |
Korean |
06/25/1955 |
12/28/2014 |
|
Auditor |
Han Moon-Ja |
Korean |
02/01/1955 |
01/09/2014 |
The financials are
not available, and the Subject Company does not have any obligations to release
its financials to the public.
|
Authorized Capital(KRW) |
200,000,000 |
|
Paid-Up Capital(KRW) |
50,000,000 |
|
Total Issued Shares |
5,000 |
|
Main Products & Services |
Electric and Electronic Components |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
Not Available.
Not Available.
-------------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.63 |
|
|
1 |
Rs.100.65 |
|
Euro |
1 |
Rs.72.40 |
|
KRW |
1 |
Rs.0.057 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
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.