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Report No. : |
354687 |
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Report Date : |
10.12.2015 |
IDENTIFICATION DETAILS
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Name : |
ALFATEX INTERNATIONAL CORP. |
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Registered Office : |
30, Digital-Ro 32-Gil, Guro-Gu, Seoul, Korea, Rm.806, Kolon Digital
Tower, 08390 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
18.09.2002 |
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Com. Reg. No.: |
108-81-56923 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Wholesales of Textiles and Yarn |
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No. of Employee : |
3 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
South Korea |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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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 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.
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Source
: CIA |
Basic
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Company Name |
ALFATEX INTERNATIONAL CORP. (Korean Company Name : “(주)알파텍스인터내셔날”) |
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Registered Address |
30, Digital-ro 32-gil, Guro-gu, Seoul,
Korea |
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Building |
Rm.806, Kolon Digital Tower |
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Zip Code |
08390 |
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Tel |
+82-2-2103-5750 |
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Fax |
+82-2-832-3174 |
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E-mail |
ggongsam@alfatex.co.kr |
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Website |
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Trading Address |
Rm.806, Kolon Digital Tower, 30,
Digital-ro 32-gil, Guro-gu, Seoul, Korea (Old Address System : Rm.806, Kolon Digital
Tower, 222-7, Guro 3-dong, Guro-gu, Seoul, Korea) |
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Tel |
+82-2-2103-5888 +82-2-832-3274 |
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Fax |
+82-2-2103-5889 |
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Other Address |
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Tel |
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Fax |
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Type |
Export/Import |
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Industry |
Wholesales of Textiles and Yarn |
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Main Business |
Textile |
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Sub Business |
|
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Established (mm/dd/yyyy) |
09/18/2002 |
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Fabrics and leather materials(11160000) |
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Sell |
Threads(11151600) |
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Name |
Kim Young-Sam |
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Address |
2FL., Shinsoo Villa, 15-93, Daejo-dong,
Eunpyeong-gu, Seoul, Korea |
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Date of Birth |
09/12/1969 |
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Title |
President & CEO |
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Nationality |
Korean |
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Capital (KRW) |
100,000,000 |
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Employees |
3 |
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Formation |
Co., Ltd by Shares |
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Bank Details |
Kookmin Bank |
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Corporate Registered No. |
110111-2613655 |
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Business Registered No. |
108-81-56923 |
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Permit & Licenses |
Int’l Trade No.: 11906470 |
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Shareholder Position |
N/A |
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Company History |
05/2001 Established as ALFATEX INTERNATIONAL
CORP.(Sole Proprietorship) 09/18/2002 Incorporated as the present name 05/10/2004 Moved to the present HQ address from Rm.1004, 395-73,
Sindaebang 2-dong, Dongjak-gu, Seoul, Korea 10/19/2005 Increased capital to 100,000,000 KRW from 50,00,000 KRW |
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Management
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Job Description |
Name |
Nationality |
Date of Birth |
Inauguration Date |
|
President & CEO |
Kim Young-Sam |
Korean |
09/12/1969 |
03/31/2005 |
|
Director |
Jang Hee-Jung |
Korean |
07/15/1973 |
03/31/2005 |
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Auditor |
Lee Sun-Ah |
Korean |
03/31/2005 |
03/31/2005 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2014 |
2,573,094,000 |
1,033,907,000 |
24,303,000 |
|
2013 |
3,026,947,000 |
927,839,000 |
24,091,000 |
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2012 |
3,297,849,000 |
952,421,000 |
35,088,000 |
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Authorized Capital(KRW) |
200,000,000 |
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Paid-Up Capital(KRW) |
100,000,000 |
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Total Issued Shares |
20,000 |
Balance
Sheet
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|||
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Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
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Total Assets |
1,033,907,000 |
927,839,000 |
952,421,000 |
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Current Assets |
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-Quick Assets |
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-Inventories |
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Fixed Assets |
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-Investment |
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-Tangibles |
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-Intangibles |
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Total Liabilities |
624,083,000 |
537,479,000 |
586,152,000 |
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Current Liabilities |
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Fixed Liabilities |
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Capital Stock |
100,000,000 |
100,000,000 |
100,000,000 |
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Capital Surplus |
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Profit Surplus |
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Capital Adjustment |
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Total Equity |
409,824,000 |
390,360,000 |
366,269,000 |
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Liab. & Shareholder’s Equity |
1,033,907,000 |
927,839,000 |
952,421,000 |
Income
Statement
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|||
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Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
2,573,094,000 |
3,026,947,000 |
3,297,849,000 |
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Cost of Sold Goods |
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Gross Profit |
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Selling & Admin. Expenses |
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Operating Income |
56,828,000 |
50,832,000 |
62,732,000 |
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Non-Operating Income |
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Non-Operating Expenses |
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Income Before Taxes |
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Income Taxes Expenses |
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Net Income |
24,303,000 |
24,091,000 |
35,088,000 |
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Main Products & Services |
Textile |
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Detailed Products Spec. |
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Technologies Acquired |
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Suppliers |
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Customers |
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Competitors |
HTI CORPORATION RM. 1013, WOOLIM E-BIZ CENTER 2-CHA, 184-1,
GURO 3-DONG, GURO-GU, SEOUL, KOREA TEL:+82-2-2109-6918 FAX:+82-2-2109-6920 RIO INDUSTRIES CO., LTD. RM. 404, MICHELAN147, 147-2, SAMSEONG
1-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-508-0469 FAX:+82-2-508-6111~2 DONGIL INDUSTRIAL CO. 725-5, WONSI-DONG, DANWON-GU, ANSAN-SI,
GYEONGGI-DO, KOREA TEL:+82-31-494-2341 FAX:+82-31-494-2343 |
The Subject imports
from China, and it exports to South Africa.
Not Available.
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.75 |
|
|
1 |
Rs.100.29 |
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Euro |
1 |
Rs.72.89 |
|
KRW |
1 |
Rs. 0.057 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
|
|
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Report Prepared
by : |
ASH |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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<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.