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Report No. : |
349305 |
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Report Date : |
07.11.2015 |
IDENTIFICATION DETAILS
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Name : |
INTECO STEEL CO., LTD. |
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Formerly Known As : |
INTECO S&P CO., LTD. |
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Registered Office : |
17, Teheran-Ro 86-Gil, Gangnam-Gu, Seoul,
Korea |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
03.06.2002 |
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Com. Reg. No.: |
201-81-71771 |
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Legal Form : |
Co., Ltd by shares |
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Line of Business : |
Wholesale of Basic Metals |
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No. of Employees : |
2 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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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 |
INTECO STEEL
CO., LTD. (Ex. Company
Name : INTECO S&P CO., LTD.) |
|
Registered Address |
17, Teheran-ro 86-gil, Gangnam-gu, Seoul,
Korea |
|
Building |
Rm. 401, Daeyeon Bldg. |
|
Zip Code |
06179 |
|
Tel |
+82-2-564-8836 |
|
Fax |
+82-2-564-8861 |
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E-mail |
skyoon1968@hotmail.com;yjinteco@yahoo.co.kr;hysijk@nate.com |
|
Website |
www.intecosteel.com |
|
Trading Address |
Rm. 201, Daeyeon Bldg., 17, Teheran-ro
86-gil, Gangnam-gu, Seoul, Korea (Old Address System : Rm. 201, Daeyeon
Bldg., 943-30, Daechi 3-dong, Gangnam-gu, Seoul, Korea) |
|
Tel |
+82-2-564-8836 |
|
Fax |
+82-2-564-8861 |
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Other Address |
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|
Tel |
|
|
Fax |
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Type |
Export |
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Industry |
Wholesale of Basic Metals |
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Main Business |
Steel, Tinplate Steel, Prepainted Steel, Aluminized Steel |
|
Sub
Business |
Synthetic Resin Proceeding |
|
Established (mm/dd/yyyy) |
03/06/2002 |
The Subject Company
occupies the premises of registered HQ address by leasing base.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Steel plate(30102204) |
|
Sell |
Pipe(40142100) |
|
Name |
Jeong Yong-Joon |
|
Address |
Suite D-1603, 449, Seongnam-daero,
Bundang-gu, Seongnam-si, Gyeonggi-do, Korea |
|
Date of Birth |
02/08/1963 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
500,000,000 |
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|
Employees |
2 |
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Formation |
Co., Ltd by shares |
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Bank Details |
Industrial Bank of Korea-Trade Center
Branch |
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Corporate Registered No. |
110111-2462846 |
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Business Registered No. |
201-81-71771 |
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Permit & Licenses |
Int’l Trade No.: 45130092 |
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Shareholder Position |
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Company History |
03/06/2002 Incorporated as KOTASCO CO.,
LTD. 10/31/2003 Changed company name to INTECO STEEL CO., LTD. 10/31/2003 Moved to the present HQ address
from 169-2, Namchang-dong, Jung-gu, Seoul, Korea 12/04/2007 Increased the authorized shares to 100,000 shares from
40,000 shares 12/05/2007 Increased capital to 200,000,000 KRW from 50,000,000 KRW 10/08/2008 Changed company name to INTECO
S&P CO., LTD. 12/19/2008 Increased capital to 350,000,000
KRW from 200,000,000 KRW 12/29/2008 Increased the authorized shares
to 900,000 shares from 100,000 shares 12/30/2008 Increased capital to 500,000,000
KRW from 350,000,000 KRW 09/28/2009 Changed company name to the
present name 11/2010 Awarded US$ 20 Million Export top
Prize 11/2011 Awarded US$ 30 Million Export top
Prize |
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Jeong Yong-Joon |
Male |
Korean |
06/07/2004 |
|
Director |
M/S. |
Kim Hye-Ryeon |
Female |
Korean |
06/20/2013 |
|
Auditor |
M/S. |
Yoon Soo-Kyung |
Female |
Korean |
03/12/2010 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
37,120,060,000 |
5,046,121,000 |
-164,065,000 |
|
|
2013 |
48,597,811,000 |
9,079,318,000 |
10,518,000 |
|
2012 |
32,255,828,000 |
3,718,026,000 |
732,620,000 |
|
2011 |
41,750,432,000 |
3,091,389,000 |
-987,917,000 |
|
2010 |
41,800,000,000 |
N/A |
356,880,000 |
|
2009 |
23,745,760,000 |
N/A |
399,330,000 |
|
2008 |
15,429,270,000 |
7,332,000,000 |
242,750,000 |
|
2007 |
9,532,000,000 |
1,652,000,000 |
18,100,000 |
|
2006 |
14,571,000,000 |
1,728,000,000 |
25,000,000 |
|
2005 |
11,949,000,000 |
2,218,000,000 |
33,000,000 |
|
2004 |
9,875,000,000 |
|
|
|
2003 |
758,000,000 |
|
|
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Authorized Capital(KRW) |
4,500,000,000 |
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Paid-Up Capital(KRW) |
500,000,000 |
|
Total Issued Shares |
100,000 |
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Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total Assets |
5,046,121,000 |
9,079,318,000 |
3,718,026,000 |
|
Current Assets |
4,777,443,000 |
8,883,088,000 |
3,500,853,000 |
|
-Quick Assets |
- |
- |
- |
|
-Inventories |
- |
- |
- |
|
Fixed Assets |
268,678,000 |
196,230,000 |
217,173,000 |
|
-Investment |
- |
- |
- |
|
-Tangibles |
- |
- |
- |
|
-Intangibles |
- |
- |
- |
|
Total Liabilities |
4,069,430,000 |
7,938,563,000 |
2,392,155,000 |
|
Current Liabilities |
4,064,179,000 |
7,938,563,000 |
2,392,155,000 |
|
Fixed Liabilities |
5,251,000 |
- |
- |
|
Capital Stock |
500,000,000 |
500,000,000 |
500,000,000 |
|
Capital Surplus |
- |
- |
- |
|
Profit Surplus |
476,691,000 |
640,755,000 |
825,871,000 |
|
Capital Adjustment |
- |
- |
- |
|
Total Equity |
976,691,000 |
1,140,755,000 |
1,325,871,000 |
|
Liab. & Shareholder’s Equity |
5,046,121,000 |
9,079,318,000 |
3,718,026,000 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
37,120,060,000 |
48,597,811,000 |
32,255,828,000 |
|
Cost of Sold Goods |
33,054,073,000 |
44,629,373,000 |
30,002,920,000 |
|
Gross Profit |
4,065,987,000 |
3,968,438,000 |
2,252,908,000 |
|
Selling & Admin. Expenses |
4,307,332,000 |
4,053,396,000 |
1,441,618,000 |
|
Operating Income |
-241,345,000 |
-84,958,000 |
811,290,000 |
|
Non-Operating Income |
485,224,000 |
545,471,000 |
213,030,000 |
|
Non-Operating Expenses |
407,944,000 |
383,459,000 |
291,700,000 |
|
Income Before Taxes |
-164,065,000 |
77,054,000 |
732,620,000 |
|
Income Taxes Expenses |
- |
66,536,000 |
- |
|
Net Income |
-164,065,000 |
10,518,000 |
732,620,000 |
|
Cash Flows |
|||
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Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
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Cash Flows from Operating |
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|
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-Net Income |
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-Exp. without Cash Outflow |
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-Revenue without Cash Inflows |
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-Changes in Asset/ & Liability |
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Cash Flows from Investing |
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-Cash Inflow from Investing |
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-Cash Outflows for Investing |
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Cash Flows from Financing |
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-Cash Inflows from Financing |
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-Cash Outflows from Financing |
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Increase/Decrease in Cash |
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Cash at the Beginning of Year |
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Cash at the End of Year |
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Main Products & Services |
Steel Tinplate Steel Prepainted Steel Aluminized Steel Synthetic Resin Proceeding |
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Detailed Products Spec. |
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Technologies Acquired |
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Suppliers |
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Customers |
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Competitors |
HIHO METAL CO., LTD. 8TH FL., DONGNAM BLDG., 588-19, SINSA-DONG,
GANGNAM-GU, SEOUL, KOREA TEL:+82-2-514-6671 FAX:+82-2-514-6489 DAEHAN METALS CO., LTD. 1769-2, SONGJEONG-DONG, GANGSEO-GU, BUSAN,
KOREA TEL:+82-51-974-6002 FAX:+82-51-831-9008 BUSAN STEEL CO., LTD. 720-4, HAKJANG-DONG, SASANG-GU, BUSAN,
KOREA TEL:+82-51-325-1131~4 FAX:+82-51-324-6440 |
The Subject exports
to China, Indonesia, Iran, Kazakhstan, Philippines and Singapore.
Not Available.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.79 |
|
UK Pound |
1 |
Rs.99.95 |
|
Euro |
1 |
Rs.71.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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|
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Report Prepared
by : |
NIT |
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 |
|
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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 |
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|
-- |
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.