|
Report No. : |
307649 |
|
Report Date : |
12.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
SOO IN MULSAN CO., LTD. |
|
|
|
|
Registered Office : |
433, Tongil-ro, Seodaemun-gu, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
23.03.1993 |
|
|
|
|
Com. Reg. No.: |
110-81-57740 |
|
|
|
|
Legal Form : |
Company Limited By Shares |
|
|
|
|
Line of Business : |
Collection and Wholesale of Recycling Materials |
|
|
|
|
No. of Employees : |
13 |
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 |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
Slow but correct |
|
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) |
|
|
|
|
|
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 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. Initially, a system of close government and
business ties, including directed credit and import restrictions, 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
6.9% 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
6.3% growth in 2010. The US-Korea Free Trade Agreement was ratified by both
governments in 2011 and went into effect in March 2012. Throughout 2012 and
2013 the economy experienced sluggish growth because of market slowdowns in the
United States, China, and the Eurozone. The administration in 2014 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 heavy reliance on exports,
which comprise about half of GDP.
|
Source
: CIA |
|
Company
Name |
SOO IN MULSAN CO., LTD. (Korean Company Name : “(주)수인물산”) |
|
Registered Address |
433, Tongil-ro, Seodaemun-gu, Seoul, Korea |
|
Building |
|
|
Zip Code |
120-859 |
|
Tel |
+82-70-8224-1350 |
|
Fax |
+82-70-8224-1350 |
|
E-mail |
soo6971@korea.com |
|
Website |
|
|
Trading Address |
433, Tongil-ro, Seodaemun-gu, Seoul, Korea (Old Address System : 173-16, Hongje
1-dong, Seodaemun-gu, Seoul, Korea) |
|
Tel |
+82-2-6900-6880 |
|
Fax |
+82-2-395-5543 |
|
Other Address-1st Factory |
50, Taein 2-gil, Gwangyang-si,
Jeollanam-do, Korea |
|
Tel |
|
|
Fax |
|
|
Type |
Import |
|
Industry |
Collection and Wholesale of Recycling Materials |
|
Main Business |
Metal Scrap, Wood Pellet, Recycling
Materials |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
03/23/1993 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Metal scrap(11191600) |
|
Name |
Cho Chul-Soo |
|
Address |
Suite 1902, 109, Mapo-daero, Mapo-gu, Seoul,
Korea |
|
Date of Birth |
12/20/1961 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
166,670,000 |
||||||||||||
|
Employees |
13 |
||||||||||||
|
Formation |
Co., Ltd by Shares |
||||||||||||
|
Bank Details |
Shinhan Bank Industrial Bank of Korea |
||||||||||||
|
Corporate Registered No. |
110111-0929690 |
||||||||||||
|
Business Registered No. |
110-81-57740 |
||||||||||||
|
Permit & Licenses |
N/A |
||||||||||||
|
Shareholder Position |
|
||||||||||||
|
Company History |
03/23/1993 Incorporated as SEGYEA COFFEE
CO., LTD. 01/09/1997 Changed company name to Segyea
Plan Co., Ltd. 02/21/1997 Changed company name to Seed
Plan Co., Ltd. 07/12/2002 Changed company name to the present
name 01/24/2005 Moved to the present HQ address
from 173-6,
Hongje 1-dong, Seodaemun-gu, Seoul, Korea 05/13/2014 Increased capital to 166,670,000 KRW from 150,000,000 KRW |
||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Cho Chul-Soo |
Male |
Korean |
03/30/2011 |
|
Director |
Mr. |
Cho Jae-Ryang |
Male |
Korean |
03/30/2011 |
|
Director |
Mr. |
Lee Yong-In |
Male |
Korean |
03/30/2011 |
|
Auditor |
Mr. |
Park Ham-Shin |
Male |
Korean |
05/22/2008 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2013 |
10,764,464,328 |
18,887,722,758 |
322,393,788 |
|
2012 |
980,944,168 |
12,865,043,657 |
56,126,638 |
|
2011 |
671,431,349 |
12,380,301,376 |
63,573,328 |
|
2010 |
615,926,000 |
6,604,945,000 |
41,471,000 |
|
Authorized Capital(KRW) |
200,000,000 |
|
Paid-Up Capital(KRW) |
166,670,000 |
|
Total Issued Shares |
16,667 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Total Assets |
18,887,722,758 |
12,865,043,657 |
12,380,301,376 |
|
Current Assets |
7,164,374,830 |
1,116,720,662 |
170,270,319 |
|
-Quick Assets |
6,366,523,663 |
1,084,845,180 |
170,270,319 |
|
-Inventories |
797,851,167 |
31,875,482 |
- |
|
Fixed Assets |
11,723,347,928 |
11,748,322,995 |
12,210,031,057 |
|
-Investment |
90,155,465 |
10,444,000 |
380,000,000 |
|
-Tangibles |
11,581,192,463 |
11,677,878,995 |
11,770,031,057 |
|
-Intangibles |
|
|
|
|
-Others |
52,000,000 |
60,000,000 |
60,000,000 |
|
Total Liabilities |
12,756,439,976 |
7,056,154,663 |
6,607,790,733 |
|
Current Liabilities |
8,554,316,995 |
3,161,626,372 |
956,439,213 |
|
Fixed Liabilities |
4,202,122,981 |
3,894,528,291 |
5,651,351,520 |
|
Capital Stock |
150,000,000 |
150,000,000 |
150,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
-293,331,494 |
-615,725,282 |
-652,103,633 |
|
Capital Adjustment |
6,274,614,276 |
6,274,614,276 |
6,274,614,276 |
|
Total Equity |
6,131,282,782 |
5,808,888,994 |
5,772,510,643 |
|
Liab. & Shareholder’s Equity |
18,887,722,758 |
12,865,043,657 |
12,380,301,376 |
|
Current
Liabilities |
8,554,316,995 |
3,161,626,372 |
956,439,213 |
|
Trade Payables |
80,443,011 |
- |
|
|
Short-Term Borrowings |
8,250,105,010 |
2,900,000,000 |
900,000,000 |
|
Account Payables |
68,824,704 |
24,118,095 |
20,834,337 |
|
Withholdings |
4,921,380 |
272,240 |
178,460 |
|
VAT Withhold |
44,010,249 |
15,128,068 |
17,484,619 |
|
Advance Receipts |
36,221,699 |
217,400,000 |
- |
|
Accrued Expenses |
4,672,612 |
3,836,486 |
4,026,437 |
|
Accrued Income Tax |
65,118,330 |
871,483 |
13,915,360 |
|
Fixed
Liabilities |
4,202,122,981 |
3,894,528,291 |
5,651,351,520 |
|
Long-Term Borrowings |
262,500,000 |
- |
2,000,000,000 |
|
Leasehold Deposit Received |
3,927,900,000 |
3,890,500,000 |
3,650,500,000 |
|
Provision for Severance & Retirement |
11,722,981 |
4,028,291 |
851,520 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Sales |
10,764,464,328 |
980,944,168 |
671,431,349 |
|
Cost of Sold Goods |
9,071,162,196 |
264,651,736 |
- |
|
Gross Profit |
1,693,302,132 |
716,292,432 |
671,431,349 |
|
Selling & Admin. Expenses |
1,250,095,778 |
470,218,801 |
423,322,646 |
|
Operating Income |
443,206,354 |
246,073,631 |
248,108,703 |
|
Non-Operating Income |
169,512,754 |
15,029,499 |
28,825,629 |
|
Non-Operating Expenses |
222,331,870 |
195,390,170 |
197,240,554 |
|
Income Before Taxes |
390,387,238 |
65,712,960 |
79,693,778 |
|
Income Taxes Expenses |
67,993,450 |
9,586,322 |
16,120,450 |
|
Net Income |
322,393,788 |
56,126,638 |
63,573,328 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Cash Flows from Operating |
-4,540,380,308 |
347,170,420 |
133,549,852 |
|
-Net Income |
322,393,788 |
56,126,638 |
63,573,328 |
|
-Exp. without Cash Outflow |
125,307,698 |
117,034,068 |
136,509,293 |
|
-Revenue without Cash Inflows |
-3,878,551 |
- |
|
|
-Changes in Asset/ & Liability |
-4,984,203,243 |
174,009,714 |
-66,532,769 |
|
Cash Flows from Investing |
-1,581,398 |
228,638,447 |
-359,676,012 |
|
-Cash Inflow from Investing |
133,424,067 |
380,000,000 |
463,851,600 |
|
-Cash Outflows for Investing |
-135,005,465 |
-151,361,553 |
-823,527,612 |
|
Cash Flows from Financing |
5,612,729,448 |
- |
67,448,570 |
|
-Cash Inflows from Financing |
5,612,729,448 |
- |
170,000,000 |
|
-Cash Outflows from Financing |
- |
- |
-102,551,430 |
|
Increase/Decrease in Cash |
1,070,767,742 |
575,808,867 |
-158,677,590 |
|
Cash at the Beginning of Year |
607,015,213 |
31,206,346 |
189,883,936 |
|
Cash at the End of Year |
1,677,782,955 |
607,015,213 |
31,206,346 |
|
Main Products & Services |
Metal Scrap, Wood Pellet, Recycling
Materials |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
KOREA SOUTH-EAST POWER CO., LTD.(110111-2207119) KOREA SOUTHERN POWER CO., LTD.(110111-2207135) |
|
Competitors |
SEJIN METAL CO., LTD. 891-5, WONSAN-RI, ONSAN-EUP, ULJU-GUN,
ULSAN, KOREA TEL:+82-52-239-3451 FAX:+82-52-238-9698 HANYUNG METAL CO., LTD. 1192, SINSANG 3-RI, JILLYANG-EUP,
GYEONGSAN-SI, GYEONGSANGBUK-DO, KOREA TEL:+82-53-856-8211 FAX:+82-53-856-8215 JSA KOREA COMMODITY LTD. RM. 401, HWANSAM BLDG., 102-31,
DONGJAK-DONG, DONGJAK-GU, SEOUL, KOREA TEL:+82-2-717-2450 FAX:+82-2-717-2454 |
|
Affiliates |
CNS SOOIN DEV.INC. (40.0% held by the subject company) CNS VIETNAM TRADING & LOGISTICS(VIETNAM) CNS SOOIN TRADING.INC(PHILIPPINES) E-LAMP CO., LTD.(110111-3544247) SJ SHIPPING CO., LTD.(110111-5255264) |
Not Available.
Not Available.
-------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.15 |
|
|
1 |
Rs.94.72 |
|
Euro |
1 |
Rs.70.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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 |
|
|
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.