|
Report No. : |
347825 |
|
Report Date : |
29.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
HYUNJIN GREEN
MEAL CO., LTD. |
|
|
|
|
Registered Office : |
12, Macheon-ro 28-gil, Songpa-gu, Seoul, Korea, 05739, Rm. 201 |
|
|
|
|
Country : |
South
Korea |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
21.12.1998 |
|
|
|
|
Com. Reg. No.: |
301-81-34891 |
|
|
|
|
Legal Form : |
Co.,
Ltd by shares |
|
|
|
|
Line of Business : |
Wholesale
of Other Prepared Food |
|
|
|
|
No. of Employees : |
15 |
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 |
|
Payment Behaviour : |
No Complaints |
|
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 |
HYUNJIN GREEN
MEAL CO., LTD. (Korean Company Name : “현진그린밀(주)”) |
|
Registered Address |
12, Macheon-ro 28-gil, Songpa-gu, Seoul, Korea |
|
Building |
Rm.
201 |
|
Zip Code |
05739 |
|
Tel |
+82-2-400-7165 |
|
Fax |
+82-2-443-0875 |
|
E-mail |
nickjung@dowellfi.net |
|
Website |
www.food-green.co.kr |
|
Trading
Address |
Rm. 201, 12, Macheon-ro 28-gil, Songpa-gu,
Seoul, Korea (Old Address System : Rm. 201, 139-2, Ogeum-dong, Songpa-gu, Seoul,
Korea) |
|
Tel |
+82-2-3436-3234 +82-2-400-7154 |
|
Fax |
+82-2-443-0875 |
|
Other
Address-Jincheon Logistics Center |
48-29, Inhwa-gil, Deoksan-myeon,
Jincheon-gun, Chungcheongbuk-do, Korea (Old Address System : 467-4, Insan-ri, Deoksan-myeon, Jincheon-gun, Chungbuk,
Korea) |
|
Tel |
+82-43-537-3371 |
|
Fax |
+82-43-537-3234 |
|
Type |
Import |
|
Industry |
Wholesale
of Other Prepared Food |
|
Main Business |
Sauce,
Wheat Flour |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
12/21/1998 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Shelf stable aquatic plants(50121804) |
|
Sell |
Milk and butter products(50131700) |
|
Sell |
Natural sugars or sweetening products(50161509) |
|
Name |
Jeong
See-Young |
|
Address |
Suite 108-806, 716, Irwon-dong,
Gangnam-gu, Seoul, Korea |
|
Date of Birth |
05/27/1964 |
|
Title |
Representative Director |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
480,000,000 |
||||||||||||||||||
|
Employees |
15 |
||||||||||||||||||
|
Formation |
Co.,
Ltd by shares |
||||||||||||||||||
|
Bank Details |
KEB Hana Bank-Okum Dong Branch Industrial Bank of Korea-Bangyi Station
Branch Woori Bank |
||||||||||||||||||
|
Corporate Registered No. |
150111-0036439 |
||||||||||||||||||
|
Business Registered No. |
301-81-34891 |
||||||||||||||||||
|
Permit & Licenses |
Int’l
Trade No.: 11777157 |
||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||
|
Company History |
08/1996 Established as HYUNJIN CO.(SOLE
PROPRIETORSHIP) 12/21/1998 Incorporated as HYUNJIN CO.,
LTD. 04/2000 Changed company name to the present
name 08/22/2005 Moved to the present HQ address
from 52-20, Ogeum-dong, Songpa-gu, Seoul, Korea 12/21/2007 Increased capital to 280,000,000 KRW from 120,000,000 KRW 12/24/2008
Increased capital to 480,000,000 KRW from 280,000,000 KRW |
||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Representative Director |
Mr. |
Jeong
See-Young |
Male |
Korean |
05/21/2001 |
|
Auditor |
Mr. |
Cho Duck-Yoon |
Male |
Korean |
01/30/2015 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
46,970,399,452 |
12,075,616,849 |
1,363,429,955 |
|
|
2013 |
42,212,966,975 |
12,374,485,557 |
971,832,096 |
|
2012 |
41,105,287,000 |
9,784,889,000 |
905,961,000 |
|
2011 |
37,276,000,000 |
9,580,000,000 |
767,000,000 |
|
2010 |
32,223,000,000 |
9,339,000,000 |
590,000,000 |
|
2009 |
28,260,000,000 |
8,367,000,000 |
449,000,000 |
|
2008 |
27,582,000,000 |
8,223,000,000 |
308,000,000 |
|
Authorized Capital(KRW) |
480,000,000 |
|
Paid-Up Capital(KRW) |
480,000,000 |
|
Total Issued Shares |
48,000 |
|
Balance Sheet |
|||
|
Unit : Korean
Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total Assets |
12,075,616,849 |
12,374,485,557 |
9,784,889,000 |
|
Current Assets |
10,246,029,782 |
10,804,598,735 |
8,215,010,000 |
|
-Quick
Assets |
10,135,879,723 |
10,633,728,163 |
- |
|
-Inventories |
110,150,059 |
170,870,572 |
- |
|
Fixed
Assets |
1,829,587,067 |
1,569,886,822 |
1,569,879,000 |
|
-Investment |
9,000 |
9,000 |
- |
|
-Tangibles |
1,785,218,067 |
1,517,017,822 |
- |
|
-Intangibles |
|
|
- |
|
-Others |
44,360,000 |
52,860,000 |
|
|
Total Liabilities |
5,881,649,225 |
7,087,947,888 |
5,470,184,000 |
|
Current Liabilities |
5,165,029,225 |
6,937,947,888 |
5,470,184,000 |
|
Fixed Liabilities |
716,620,000 |
150,000,000 |
- |
|
Capital Stock |
480,000,000 |
480,000,000 |
480,000,000 |
|
Capital Surplus |
|
|
- |
|
Profit Surplus |
5,713,967,624 |
4,806,537,669 |
3,834,705,000 |
|
Capital Adjustment |
|
|
- |
|
Total Equity |
6,193,967,624 |
5,286,537,669 |
4,314,705,000 |
|
Liab. & Shareholder’s Equity |
12,075,616,849 |
12,374,485,557 |
9,784,889,000 |
|
Current
Liabilities |
5,165,029,225 |
6,937,947,888 |
|
|
Short-Term Borrowings |
1,590,000,000 |
2,440,000,000 |
|
|
Trade Payables |
1,296,520,919 |
875,958,633 |
|
|
Account Payables |
78,705,196 |
21,174,081 |
|
|
Advance Receipts |
153,657,407 |
- |
|
|
Withholdings |
5,457,960 |
3,733,415 |
|
|
VAT Withhold |
77,324,580 |
41,168,960 |
|
|
Short-Term Borrowings to Shareholders/
Executives/ Employees |
1,537,895,704 |
3,402,717,934 |
|
|
Accrued Income Tax |
390,293,774 |
142,632,540 |
|
|
Accrued Expenses |
35,173,685 |
10,562,325 |
|
|
Fixed
Liabilities |
716,620,000 |
150,000,000 |
|
|
Long-Term Borrowings |
150,000,000 |
150,000,000 |
|
|
Provision for Severance & Retirement |
566,620,000 |
- |
|
|
Income Statement |
|||
|
Unit : Korean
Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
46,970,399,452 |
42,212,966,975 |
41,105,287,000 |
|
Cost of Sold Goods |
42,911,746,056 |
38,861,464,980 |
38,128,685,000 |
|
Gross Profit |
4,058,653,396 |
3,351,501,995 |
2,976,602,000 |
|
Selling & Admin. Expenses |
2,261,747,045 |
2,148,765,854 |
1,830,075,000 |
|
Operating Income |
1,796,906,351 |
1,202,736,141 |
1,146,527,000 |
|
Non-Operating Income |
18,495,172 |
131,299,216 |
155,137,000 |
|
Non-Operating Expenses |
61,677,794 |
115,732,181 |
167,518,000 |
|
Income Before Taxes |
1,753,723,729 |
1,218,303,176 |
1,134,146,000 |
|
Income Taxes Expenses |
390,293,774 |
246,471,080 |
228,185,000 |
|
Net Income |
1,363,429,955 |
971,832,096 |
905,961,000 |
|
Cash Flows |
|||
|
Unit : Korean
Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Cash Flows from Operating |
3,049,127,003 |
-843,278,030 |
|
|
-Net Income |
1,363,429,955 |
971,832,096 |
|
|
-Exp. without Cash Outflow |
304,205,154 |
194,354,381 |
|
|
-Revenue without Cash Inflows |
-8,479,709 |
-72,734,497 |
|
|
-Changes in Asset/ & Liability |
1,389,971,603 |
-1,936,730,010 |
|
|
Cash Flows from Investing |
-297,391,800 |
-61,232,000 |
|
|
-Cash Inflow from Investing |
38,500,000 |
3,798,000 |
|
|
-Cash Outflows for Investing |
-335,891,800 |
-65,030,000 |
|
|
Cash Flows from Financing |
-2,714,822,230 |
922,191,520 |
|
|
-Cash Inflows from Financing |
25,881,569,450 |
26,919,311,070 |
|
|
-Cash Outflows from Financing |
-28,596,391,680 |
-25,997,119,550 |
|
|
Increase/Decrease in Cash |
36,912,973 |
17,681,490 |
|
|
Cash at the Beginning of Year |
340,119,784 |
322,438,294 |
|
|
Cash at the End of Year |
377,032,757 |
340,119,784 |
|
|
Main Products & Services |
Corn Syrup High Fructose Corn Syrup Isomalto Oligosaccharide Corn Starch/Waxy Corn Starch Pregelatinized Maps Dextrose Maltodextrin Refined Maltose Batter Starch Cyclodextrin Hitex Fish Ball Taste Starch Maltitol Syrup |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
|
|
Competitors |
DAEHWA CO., LTD. 590-5, HAAN 1-DONG, GWANGMYEONG-SI,
GYEONGGI-DO, KOREA TEL:+82-2-897-2100 FAX:+82-2-897-2545 CSK TRADING CO., LTD. RM. 301, GUNGHYEON BLDG., 1579-5, SEOCHO
3-DONG, SEOCHO-GU, SEOUL, KOREA TEL:+82-2-597-5915 FAX:+82-2-597-5918 HANS CORPORATION RM. 201, HYOJIN BLDG., 1540-5, SEOCHO
3-DONG, SEOCHO-GU, SEOUL, KOREA TEL:+82-2-521-2536 FAX:+82-2-521-2445 |
|
Affiliates |
RICH MILL CO., LTD.(154311-0014742) GUMYOUNG FS CO., LTD.(110111-2293928) DUWEL FI CO., LTD.(110111-2947666) MIL
PLUS CO., LTD.(110111-3868465) |
The Subject imports
from Austria, China, Malaysia and Vietnam.
No.
-------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.04 |
|
|
1 |
Rs.99.58 |
|
Euro |
1 |
Rs.71.75 |
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
|
|
|
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.