|
Report No. : |
303753 |
|
Report Date : |
17.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
ARTEX CORPORATION |
|
|
|
|
Registered Office : |
51, Myeongdal-ro, Seocho-gu, Seoul, Korea 2nd Fl. Booheung Bldg |
|
|
|
|
Country : |
South
Korea |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
04.01.2012 |
|
|
|
|
Com. Reg. No.: |
114-86-92730 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Wholesales of Other Electric Motors, Generators and
Transformers |
|
|
|
|
No. of Employees : |
09 |
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 |
|
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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 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 |
Basic
|
Company Name |
ARTEX CORPORATION (Korean Company Name : “(주)아텍스상사”) |
|
Registered
Address |
51, Myeongdal-ro, Seocho-gu, Seoul, Korea |
|
Building |
2nd Fl. Booheung Bldg |
|
Zip Code |
137-850 |
|
Tel |
+82-2-581-5444 |
|
Fax |
+82-2-581-4664 |
|
E-mail |
artex21c@yahoo.com;artex21c@paran.com;artex21c@artex21c.com |
|
Website |
|
|
Trading Address |
2nd Fl. Booheung Bldg., 51, Myeongdal-ro, Seocho-gu, Seoul, Korea (Old Address System : 2nd Fl. Booheung Bldg., 1002-15, Bangbae-dong, Seocho-gu, Seoul, Korea) |
|
Tel |
+82-2-581-5444 |
|
Fax |
+82-2-581-4664 |
|
Other Address |
|
|
Tel |
|
|
Fax |
|
|
Type |
Export/Import |
|
Industry |
Wholesales of Other
Electric Motors, Generators and Transformers |
|
Main Business |
Ship Materials, Solar Module, Crane, Railway Parts |
|
Sub Business |
|
|
Established
(mm/dd/yyyy) |
01/04/2012 |
Detailed Products
|
Activity |
Detailed
Products (UNSPSC) |
|
Sell |
Solar generators(26111607) |
|
Sell |
Inverters(32121705) |
|
Sell |
Batteries and cells and accessories(26111700) |
CEO’s
|
Name |
Jang Cheol-Hee |
|
Address |
Suite
102-1103, 300, Sadang-ro, Dongjak-gu, Seoul, Korea |
|
Date of Birth |
11/03/1958 |
|
Title |
Representative
Director |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
300,000,000 |
|
Employees |
9 |
|
Formation |
Sole Proprietorship |
|
Bank Details |
N/A |
|
Corporate
Registered No. |
110111-4766783 |
|
Business
Registered No. |
114-86-92730 |
|
Permit &
Licenses |
N/A |
|
Shareholder
Position |
The owner has
100% shares. |
|
Company
History |
01/02/2009
Established as the present name 01/04/2012
Incorporated as the present name |
|
|
|
Management
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
Representative
Director |
Mr. |
Jang Cheol-Hee |
Male |
Korean |
01/04/2012 |
|
Auditor |
Mr. |
Kwak Han-Kyu |
Male |
Korean |
01/04/2012 |
|
Year / Unit :
KRW |
Sales |
Assets |
Net Income |
|
3,146,025,000 |
816,700,000 |
204,499,000 |
|
|
2012 |
2,255,236,000 |
831,210,000 |
192,634,000 |
Financial Description
|
Authorized
Capital(KRW) |
1,200,000,000 |
|
Paid-Up
Capital(KRW) |
300,000,000 |
|
Total Issues
Shares |
60,000 |
|
Balance Sheet |
|||
|
Unit : Korean
Won |
As of
12/31/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Total Assets |
816,700,000 |
831,210,000 |
|
|
Current Assets |
|
|
|
|
-Quick Assets |
|
|
|
|
-Inventories |
|
|
|
|
Fixed Assets |
|
|
|
|
-Investment |
|
|
|
|
-Tangibles |
|
|
|
|
-Intangibles |
|
|
|
|
Total
Liabilities |
125,421,000 |
338,576,000 |
|
|
Current
Liabilities |
|
|
|
|
Fixed
Liabilities |
|
|
|
|
Capital Stock |
300,000,000 |
300,000,000 |
|
|
Capital
Surplus |
|
|
|
|
Profit Surplus |
|
|
|
|
Capital
Adjustment |
|
|
|
|
Total Equity |
691,279,000 |
492,634,000 |
|
|
Liab. &
Shareholder’s Equity |
816,700,000 |
831,210,000 |
|
|
Income
Statement |
|||
|
Unit : Korean
Won |
As of
12/31/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Sales |
3,146,025,000 |
2,255,236,000 |
|
|
Cost of Sold Goods |
|
|
|
|
Gross Profit |
|
|
|
|
Selling &
Admin. Expenses |
|
|
|
|
Operating
Income |
170,412,000 |
224,934,000 |
|
|
Non-Operating
Income |
|
|
|
|
Non-Operating
Expenses |
|
|
|
|
Income Before
Taxes |
|
|
|
|
Income Taxes
Expenses |
|
|
|
|
Net Income |
204,499,000 |
192,634,000 |
|
Products, Technologies,
Services Description
|
Main Products
& Services |
Ship Materials, Solar Module, Crane, Railway Parts |
|
Detailed
Products Spec. |
|
|
Technologies
Acquired |
|
Trade Partners &
Competitors
|
Suppliers |
DEUTSCHE
HOLZVEREDELUNG SCHMEING GMBH & CO. KG WÜRDINGHAUSER
STRAßE 53, D-57399 KIRCHHUNDEM/WÜRDINGHAUSEN, GERMANY TEL:+49 2723
772 0 FAX:+49 2723 772 233 |
|
Customers |
|
|
Competitors |
SYMPHONY
ENERGY CO., LTD. 671-2,
YONG-DONG, GWANGSAN-GU, GWANGJU, KOREA TEL:+82-62-949-7722 FAX:+82-62-949-7741 KPE CO., LTD. 1985-12,
YEONSAN 2-DONG, YEONJE-GU, BUSAN, KOREA TEL:+82-51-865-1010 FAX:+82-51-868-3870 TG-ENERGY INC. 2ND FL.,
WONBANG BLDG., 717-4, SUSEO-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-6230-0100 FAX:+82-2-6243-0004 |
Sales by Region
(Activity & Markets)
The Subject
imports from Europe.
Court Action
Not Available.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.89 |
|
|
1 |
Rs.93.92 |
|
Euro |
1 |
Rs.72.01 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIS |
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.