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Report No. : |
357714 |
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Report Date : |
30.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
INOVA POLYCHEM INC. |
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|
|
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Registered Office : |
33, Mapo-daero, Mapo-gu, Seoul, Korea 04167, Rm.O-1406, Mapo Hanwha Obelisk |
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Country : |
South
Korea |
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Date of Incorporation : |
09.03.2015 |
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Com. Reg. No.: |
361-88-00048 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Manufacture, Wholesales and Retails of Synthetic Rubber and Plastics
Materials |
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|
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
-- |
NB |
New Business |
-- |
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|
Status : |
New Business |
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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 – 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 |
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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 |
INOVA POLYCHEM INC. (Korean Company Name : “(주)이노바폴리켐”) |
|
Registered Address |
33, Mapo-daero, Mapo-gu, Seoul, Korea |
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Building |
Rm.O-1406, Mapo Hanwha Obelisk |
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Zip Code |
04167 |
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Tel |
+82-2-6351-7510 |
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Fax |
N/A |
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E-mail |
|
|
Website |
|
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Trading Address |
33, Mapo-daero, Mapo-gu, Seoul, Korea 160, Dohwa-dong, Mapo-gu, Seoul, Korea) |
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Tel |
+82-2-6351-7510 |
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Fax |
N/A |
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Other Address |
|
|
Tel |
|
|
Fax |
|
|
Type |
Export/Import |
|
Industry |
Manufacture, Wholesales and Retails of Synthetic Rubber and Plastics
Materials |
|
Main Business |
Chemicals and Chemical Products, Brokerage Services, Industrial
Machinery |
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Sub Business |
|
|
Established (mm/dd/yyyy) |
03/09/2015 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Plastic resins(13111059) |
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Sell |
Polypropylene PP(13102022) |
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Sell |
Chemicals including Bio Chemicals and Gas Materials(12000000) |
|
Name |
Seo Ho-Sik |
|
Address |
Suite 214-603, 14, Naeson-ro, Uiwang-si,
Gyeonggi-do, Korea |
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Date of Birth |
10/02/1969 |
|
Title |
President & CEO |
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Nationality |
Korean |
|
Capital (KRW) |
10,000,000 |
|
Employees |
N/A |
|
Formation |
Co., Ltd by Shares |
|
Bank Details |
N/A |
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Corporate Registered No. |
110111-5659961 |
|
Business Registered No. |
361-88-00048 |
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Permit & Licenses |
N/A |
|
Shareholder Position |
N/A |
|
Company History |
03/09/2015 Incorporated as the present name |
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|
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Management
|
Job Description |
Name |
Nationality |
Date of Birth |
Inauguration Date |
|
President & CEO |
Seo Ho-Sik |
Korean |
10/02/1969 |
03/09/2015 |
|
Director |
Yu Kyung-Kwang |
Korean |
01/05/1945 |
03/09/2015 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2015 |
|
|
|
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Authorized Capital(KRW) |
500,000,000 |
|
Paid-Up Capital(KRW) |
10,000,000 |
|
Total Issued Shares |
20,000 |
|
Main Products & Services |
Chemicals and Chemical Products, Brokerage Services, Industrial
Machinery |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
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|
Suppliers |
|
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Customers |
|
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Competitors |
CRESCO CORPORATION LTD. RM. 407, GWANGHWAMUN OFFICIA, 163, SINMUNNO
1-GA, JONGNO-GU, SEOUL, KOREA TEL:+82-2-3276-3777 FAX:+82-2-3276-3779 SAMMIN CORPORATION RM. 408, DAEGWANG BLDG., 7-15, NONHYEON
1-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-547-2556 FAX:+82-2-547-2559 JUNGWOO CORPORATION 2ND FL., JEONG-U BLDG., 1552-8, SEOCHO
3-DONG, SEOCHO-GU, SEOUL, KOREA TEL:+82-2-523-9661 FAX:+82-2-523-9671 |
Not Available.
Not Available.
-------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.37 |
|
|
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.72.85 |
|
KRW |
1 |
Rs.0.057 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
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|
|
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Report Prepared
by : |
TPT |
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 |
|
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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 |
|
|
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.