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Report No. : |
351345 |
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Report Date : |
26.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
FESTECH CO., LTD. |
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|
|
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Registered Office : |
632, Seobusaet-gil, Geumcheon-gu, Seoul |
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Country : |
Korea (South) |
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|
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
09.02.2001 |
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Com. Reg. No.: |
113-81-67290 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Manufacture of Other Industrial Machinery and Equipment. |
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No. of Employee : |
25 |
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 |
|
Status : |
Satisfactory |
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|
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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) |
|
Korea (South) |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
KOREA (SOUTH) 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 |
Basic
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Company Name |
FESTECH CO., LTD. |
|
Registered Address |
632, Seobusaet-gil, Geumcheon-gu, Seoul, Korea |
|
Building |
Rm.305~307, Daeryung Technotown 5 Cha |
|
Zip Code |
08504 |
|
Tel |
+82-2-2107-7800 |
|
Fax |
+82-2-2107-7801 |
|
E-mail |
festech@festech.co.kr |
|
Website |
www.festech.co.kr |
|
Trading Address |
Rm. 305~307, Daeryung Technotown 5 Cha, 632, Seobusaet-gil,
Geumcheon-gu, Seoul, Korea (Old Address System : Rm. 305~307, Daeryung Technotown 5 Cha, 493,
Gasan-dong, Geumcheon-gu, Seoul, Korea) |
|
Tel |
+82-2-2107-7800 |
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Fax |
+82-2-2107-7801 |
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Other Address |
|
|
Tel |
|
|
Fax |
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|
Type |
Export/Import |
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Industry |
Manufacture of Other Industrial Machinery and Equipment |
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Main Business |
Factory Automation System, Didactic Equipment, Educational and
Training Equipment, IT Consulting Services |
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Sub Business |
Software Development and Supply, Wholesales and Retails of Non-Ferrous
Metal |
|
Established (mm/dd/yyyy) |
02/09/2001 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Industrial process machinery and equipment and supplies(23150000) |
|
Name |
Lee Jeong-Ro |
|
Address |
Suite 1-303, 218, Nonhyeon-ro, Gangnam-gu, Seoul, Korea |
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Date of Birth |
12/24/1952 |
|
Title |
Representative Director |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
200,000,000 |
|
Employees |
25 |
|
Formation |
Co., Ltd by Shares |
|
Bank Details |
Woori Bank-Cheolsan Branch |
|
Corporate Registered No. |
110111-2167769 |
|
Business Registered No. |
113-81-67290 |
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Permit & Licenses |
07/2001 ISO 9001 07/27/2013 OHSAS 18000 Int’l Trade No.: 45278338 |
|
Shareholder Position |
N/A |
|
Company History |
02/09/2001 Incorporated as the present name 08/17/2002 Increased capital to 200,000,000 KRW from 100,000,000 KRW 12/2008 Designated as MAIN BIZ Company 12/07/2014 Designated as an INNO-BIZ
Company 03/18/2015 Moved to the present HQ address
from Rm.
703 & 706, Daeryung Technotown 5 Cha, 632, Seobusaet-gil, Geumcheon-gu,
Seoul, Korea |
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Representative Director |
Mr. |
Lee Jeong-Ro |
Male |
Korean |
02/09/2001 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2014 |
6,875,727,000 |
5,222,762,000 |
146,767,000 |
|
2013 |
6,705,599,000 |
4,467,694,000 |
660,303,000 |
|
2012 |
7,072,685,000 |
4,185,778,000 |
146,327,000 |
|
Authorized Capital(KRW) |
200,000,000 |
|
Paid-Up Capital(KRW) |
200,000,000 |
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Total Issued Shares |
40,000 |
|
BALANCE SHEET |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total Assets |
5,222,762,000 |
4,467,694,000 |
4,185,778,000 |
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Current Assets |
|
|
|
|
-Quick Assets |
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|
|
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-Inventories |
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|
|
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Fixed Assets |
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-Investment |
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|
|
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-Tangibles |
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|
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-Intangibles |
|
|
|
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Total Liabilities |
2,583,627,000 |
1,975,326,000 |
2,353,713,000 |
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Current Liabilities |
|
|
|
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Fixed Liabilities |
|
|
|
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Capital Stock |
200,000,000 |
200,000,000 |
200,000,000 |
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Capital Surplus |
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Profit Surplus |
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Capital Adjustment |
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|
|
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Total Equity |
2,639,135,000 |
2,492,368,000 |
1,832,065,000 |
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Liab. & Shareholder’s Equity |
5,222,762,000 |
4,467,694,000 |
4,185,778,000 |
|
INCOME STATEMENT |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
6,875,727,000 |
6,705,599,000 |
7,072,685,000 |
|
Cost of Sold Goods |
|
|
|
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Gross Profit |
|
|
|
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Selling & Admin. Expenses |
|
|
|
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Operating Income |
179,279,000 |
765,003,000 |
221,559,000 |
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Non-Operating Income |
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Non-Operating Expenses |
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Income Before Taxes |
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Income Taxes Expenses |
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|
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Net Income |
146,767,000 |
660,303,000 |
146,327,000 |
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CASH FLOWS |
|||
|
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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-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 |
Factory Automation System, Didactic Equipment, Educational and Training
Equipment, IT Consulting Services |
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Detailed Products Spec. |
-- |
|
Technologies Acquired |
-- |
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Suppliers |
-- |
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Customers |
-- |
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Competitors |
SEJONG CORPORATION 8TH FL., SEJONG PALACE BLDG., 901-3, JAKJEON-DONG, GYEYANG-GU,
INCHEON, KOREA TEL:+82-32-555-5577
FAX:+82-32-555-6554 YTEC CO., LTD. RM. 1117, KRANZ TECHNO, 388, DUNCHON-DAERO, JUNGWON-GU, SEONGNAM-SI,
GYEONGGI-DO, KOREA TEL:+82-31-777-8200
FAX:+82-31-777-8204 SAM SAM CORPORATION 629-90, YONGHYEON 5-DONG, NAM-GU, INCHEON, KOREA TEL:+82-32-891-3388
FAX:+82-32-887-0331 |
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Affiliates |
|
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Overseas Office |
FESTECH MALAYSIA TAMAN PERINDUSTRIAN KINRARA 47100 PUCHONG SELANGOR, MALAYSIA TEL:+603-8071-1318
FAX:+603-8076-6016 |
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Liaison Office |
-- |
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Overseas Branch |
-- |
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Joint Venture |
-- |
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Subsidiary |
-- |
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Corporate Ownership |
-- |
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Major Shareholders |
-- |
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Cooperative Enterprise |
-- |
The Subject exports to Malaysia, India, Indonesia, Vietnam, South
Africa, Mexico, Egypt, Saudi Arabia, Chile, Thailand, Russia, Myanmar and
Philippines.
Not Available.
----
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.38 |
|
|
1 |
Rs.100.45 |
|
Euro |
1 |
Rs.70.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
ANK |
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.