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Report No. : |
331309 |
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Report Date : |
09.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
MIRAE INTEX CO., LTD. |
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|
|
|
Registered Office : |
40, 63-ro, Yeongdeungpo-gu, Seoul, Korea,
150-731, Rm.1412~1413, Life Officetel |
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|
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Country : |
South
Korea |
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|
|
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Financials (as on) : |
31.12.2014 |
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|
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Date of Incorporation : |
05.03.2005 |
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Com. Reg. No.: |
107-86-60701 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Wholesales of Spun Fibers and Yarns |
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|
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No. of Employees : |
6 |
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 |
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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 – 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 |
MIRAE INTEX CO., LTD. (Korean Company Name : “(주)미래인텍스”) |
|
Registered Address |
40, 63-ro, Yeongdeungpo-gu, Seoul, Korea |
|
Building |
Rm.1412~1413, Life Officetel |
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Zip Code |
150-731 |
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Tel |
+82-2-761-6071 |
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Fax |
+82-2-761-6075 |
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E-mail |
miraeintex@daum.net |
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Website |
|
|
Trading Address |
Rm.1412~1413, Life Officetel, 40, 63-ro,
Yeongdeungpo-gu, Seoul, Korea (Old Address System : Rm.1412~1413, Life Officetel,
61-3, Yeouido-dong, Yeongdeungpo-gu, Seoul, Korea) |
|
Tel |
+82-2-761-6071 |
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Fax |
+82-2-761-6075 |
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Other Address |
|
|
Tel |
|
|
Fax |
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Type |
Export/Import |
|
Industry |
Wholesales of Spun Fibers and Yarns |
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Main Business |
Threads, Polyester Yarns, Textiles |
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Sub Business |
|
|
Established (mm/dd/yyyy) |
03/05/2005 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Threads(11151600) |
|
Sell |
Synthetic fabrics(11161800) |
|
Sell |
Synthetic yarn(11151709) |
|
Name |
Cho Sung-Moon |
|
Address |
Suite 102-803, 430, Pangyo-ro, Bundang-gu,
Seongnam-si, Gyeonggi-do, Korea |
|
Date of Birth |
04/20/1964 |
|
Title |
Representative Director |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
300,000,000 |
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Employees |
6 |
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Formation |
Co., Ltd by Shares |
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Bank Details |
Industrial Bank of Korea-Dorim Dong Branch |
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Corporate Registered No. |
110111-3181437 |
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Business Registered No. |
107-86-60701 |
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Permit & Licenses |
Int’l Trade No.: 45210264 |
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Shareholder Position |
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Company History |
03/05/2005 Incorporated as the present name 12/28/2009 Increased the authorized shares
to 500,000 shares from 40,000 shares 12/29/2009 Increased capital to 300,000,000
KRW from 200,000,000 KRW |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Representative Director |
Mr. |
Cho Sung-Moon |
Male |
Korean |
03/05/2008 |
|
Auditor |
Mr. |
Yuk Sung-Hyun |
Male |
Korean |
03/20/2009 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2014 |
23,635,148,000 |
5,268,694,000 |
98,434,000 |
|
2013 |
25,180,991,000 |
5,896,584,000 |
197,541,000 |
|
2012 |
25,570,400,000 |
6,027,855,000 |
313,540,000 |
|
2011 |
28,383,219,000 |
5,882,659,000 |
317,206,000 |
|
2010 |
30,969,989,000 |
4,384,785,000 |
327,318,000 |
|
2009 |
16,122,688,000 |
2,643,081,000 |
275,561,000 |
|
Authorized Capital(KRW) |
2,500,000,000 |
|
Paid-Up Capital(KRW) |
300,000,000 |
|
Total Issued Shares |
60,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total Assets |
5,268,694,000 |
5,896,584,000 |
6,027,855,000 |
|
Current Assets |
4,823,343,000 |
5,354,827,000 |
5,972,551,000 |
|
-Quick Assets |
- |
- |
- |
|
-Inventories |
- |
- |
- |
|
Fixed Assets |
445,351,000 |
541,757,000 |
55,304,000 |
|
-Investment |
- |
- |
- |
|
-Tangibles |
- |
- |
- |
|
-Intangibles |
- |
- |
- |
|
Total Liabilities |
3,386,717,000 |
4,113,041,000 |
4,407,952,000 |
|
Current Liabilities |
3,386,717,000 |
4,113,041,000 |
4,407,952,000 |
|
Fixed Liabilities |
- |
- |
- |
|
Capital Stock |
300,000,000 |
300,000,000 |
300,000,000 |
|
Capital Surplus |
- |
- |
- |
|
Profit Surplus |
1,582,457,000 |
1,484,023,000 |
1,320,383,000 |
|
Capital Adjustment |
-480,000 |
-480,000 |
-480,000 |
|
Total Equity |
1,881,977,000 |
1,783,543,000 |
1,619,903,000 |
|
Liab. & Shareholder’s Equity |
5,268,694,000 |
5,896,584,000 |
6,027,855,000 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
23,635,148,000 |
25,180,991,000 |
25,570,400,000 |
|
Cost of Sold Goods |
22,356,897,000 |
23,863,739,000 |
24,665,625,000 |
|
Gross Profit |
1,278,251,000 |
1,317,252,000 |
904,775,000 |
|
Selling & Admin. Expenses |
1,224,170,000 |
1,057,595,000 |
601,241,000 |
|
Operating Income |
54,081,000 |
259,657,000 |
303,534,000 |
|
Non-Operating Income |
399,995,000 |
289,900,000 |
465,831,000 |
|
Non-Operating Expenses |
335,940,000 |
308,457,000 |
378,945,000 |
|
Income Before Taxes |
118,136,000 |
241,100,000 |
390,420,000 |
|
Income Taxes Expenses |
19,702,000 |
43,559,000 |
76,880,000 |
|
Net Income |
98,434,000 |
197,541,000 |
313,540,000 |
|
Main Products & Services |
Threads, Polyester Yarns, Textiles |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
|
|
Competitors |
TAEWON S & G LTD. 478-3, ONCHEON 1-DONG, DONGNAE-GU, BUSAN,
KOREA TEL:+82-51-558-1911~4 FAX:+82-51-555-3561 COMET KOREA CORPORATION RM. 301, BROTHER BLDG., 172, JUGYO-DONG,
JUNG-GU, SEOUL, KOREA TEL:+82-2-2278-5095 FAX:+82-2-2278-5098 TAE WOO SEWING MACHINE CORP. RM. 106, HONG-WON BLDG., 176-8, JUGYO-DONG,
JUNG-GU, SEOUL, KOREA TEL:+82-2-2279-5205 FAX:+82-2-2278-3124 C & K KOREA 485-3, YEONSAN 9-DONG, YEONJE-GU, BUSAN,
KOREA TEL:+82-51-761-6702 FAX:+82-51-761-6701 |
Not Available.
Not Available.
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.57 |
|
|
1 |
Rs.98.22 |
|
Euro |
1 |
Rs.69.93 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
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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 |
|
|
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.