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Report No. : |
332246 |
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Report Date : |
14.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
WISE BRIDGE CORPORATION |
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Registered Office : |
27, Seosomun-Ro, Seodaemun-Gu, Seoul, 3FL., Changjeong, Ricyon Bldg., Korea 120-013 |
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Country : |
South
Korea |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
29.08.2008 |
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Com. Reg. No.: |
110-81-83404 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Wholesales of Steel Products. |
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No. of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
No Complaints |
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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 |
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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.
|
Source
: CIA |
|
Company Name |
WISE BRIDGE CORPORATION |
|
Registered Address |
27, Seosomun-ro, Seodaemun-gu, Seoul, Korea |
|
Building |
3FL., Changjeong, Ricyon Bldg. |
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Zip Code |
120-013 |
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Tel |
+82-2-362-0042 |
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Fax |
+82-2-362-0223 |
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E-mail |
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|
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Trading Address |
3FL.,
Changjeong, Ricyon Bldg., 27, Seosomun-ro, Seodaemun-gu,
Seoul, Korea (Old
Address System : 3FL., Changjeong, Ricyon Bldg., 465, Chungjeongno 3-ga, Seodaemun-gu, Seoul, Korea) |
|
Tel |
+82-2-362-0042 |
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Fax |
+82-2-362-0223 |
|
|
|
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Type |
Export/Import |
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Industry |
Wholesales of Steel Products |
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Main Business |
Steel Products, Electric Home Appliances, Plastic Materials, Chemicals,
Software Development |
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|
|
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Established (mm/dd/yyyy) |
08/29/2008 |
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Activity |
Detailed Products (UNSPSC) |
|
Sell |
Steel(11101704) |
|
Sell |
Steel plate(30102204) |
|
Sell |
Chemicals including Bio Chemicals and Gas Materials(12000000) |
|
Sell |
Polystyrene resin(13111023) |
|
Name |
Chung Nam-Kyo |
|
Address |
Suite 102-1502, 22, Mokdongseo-ro 2-gil,
Yangcheon-gu, Seoul, Korea |
|
Date of Birth |
03/05/1971 |
|
Title |
Representative Director |
|
Sex |
Male |
|
Nationality |
Korean |
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Capital (KRW) |
50,000,000 |
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Employees |
5 |
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Formation |
Co., Ltd by Shares |
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Bank Details |
N/A |
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Corporate Registered No. |
110111-3961772 |
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Business Registered No. |
110-81-83404 |
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Permit & Licenses |
Int’l Trade No.: 30633917 |
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Shareholder Position |
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Company History |
08/29/2008 Incorporated as the present name 11/18/2008 Increased capital to 100,000
shares to 8,000 shares 11/19/2008 Increased capital to 50,000,000
KRW from 10,000,000 KRW |
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Representative Director |
Mr. |
Chung Nam-Kyo |
Male |
Korean |
03/25/2014 |
|
Auditor |
M/S. |
Hwang Jung-Hye |
Female |
Korean |
03/22/2011 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2014 |
17,262,715,000 |
2,470,115,000 |
17,262,715,000 |
|
2013 |
16,990,131,000 |
2,004,748,000 |
16,990,131,000 |
|
2012 |
10,199,057,000 |
1,030,857,000 |
10,199,057,000 |
|
2011 |
12,887,030,000 |
1,237,200,000 |
12,887,030,000 |
|
2010 |
14,177,047,000 |
2,416,610,000 |
14,177,047,000 |
|
2009 |
13,366,734,000 |
696,932,000 |
13,366,734,000 |
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Authorized Capital(KRW) |
500,000,000 |
|
Paid-Up Capital(KRW) |
50,000,000 |
|
Total Issued Shares |
10,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total Assets |
2,470,115,000 |
2,004,748,000 |
1,030,857,000 |
|
Current Assets |
2,404,980,000 |
1,942,225,000 |
973,990,000 |
|
-Quick Assets |
- |
- |
- |
|
-Inventories |
- |
- |
- |
|
Fixed Assets |
65,135,000 |
62,523,000 |
56,867,000 |
|
-Investment |
- |
- |
- |
|
-Tangibles |
- |
- |
- |
|
-Intangibles |
- |
- |
- |
|
Total Liabilities |
1,701,418,000 |
1,297,874,000 |
461,161,000 |
|
Current Liabilities |
1,701,418,000 |
1,297,874,000 |
461,161,000 |
|
Fixed Liabilities |
- |
- |
- |
|
Capital Stock |
50,000,000 |
50,000,000 |
50,000,000 |
|
Capital Surplus |
- |
- |
- |
|
Profit Surplus |
719,699,000 |
657,876,000 |
520,698,000 |
|
Capital Adjustment |
-1,002,000 |
-1,002,000 |
-1,002,000 |
|
Total Equity |
768,697,000 |
706,874,000 |
569,696,000 |
|
Liab. & Shareholder’s Equity |
2,470,115,000 |
2,004,748,000 |
1,030,857,000 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
17,262,715,000 |
16,990,131,000 |
10,199,057,000 |
|
Cost of Sold Goods |
15,578,902,000 |
15,762,365,000 |
9,093,101,000 |
|
Gross Profit |
1,683,813,000 |
1,227,766,000 |
1,105,956,000 |
|
Selling & Admin. Expenses |
1,535,294,000 |
983,517,000 |
995,782,000 |
|
Operating Income |
148,519,000 |
244,249,000 |
110,174,000 |
|
Non-Operating Income |
106,581,000 |
114,592,000 |
85,326,000 |
|
Non-Operating Expenses |
182,582,000 |
192,276,000 |
102,720,000 |
|
Income Before Taxes |
72,518,000 |
166,565,000 |
92,780,000 |
|
Income Taxes Expenses |
10,695,000 |
29,387,000 |
- |
|
Net Income |
61,823,000 |
137,178,000 |
92,780,000 |
|
Main Products & Services |
Steel Products, Electric Home Appliances, Plastic Materials,
Chemicals, Software Development |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
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Customers |
|
|
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 |
The Subject deals
with the companies in Middle East and Africa.
Not Available.
---------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.47 |
|
|
1 |
Rs.98.47 |
|
Euro |
1 |
Rs.70.69 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
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Report Prepared
by : |
NIT |
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 |
|
|
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 |
|
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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 |
|
|
<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.