|
Report No. : |
340487 |
|
Report Date : |
10.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
TI CASTING CORP |
|
|
|
|
Registered Office : |
187-15, Hwangsobawi-gil, Wollong-myeon,
Paju-si, Gyeonggi-do, Korea, 10945 |
|
|
|
|
Country : |
South
Korea |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
11.11.1999 |
|
|
|
|
Com. Reg. No.: |
214-86-41564 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Wholesales of Metal Products. |
|
|
|
|
No. of Employees : |
45 |
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 : |
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 |
TI CASTING CORP (Korean Company Name : “(주)티아이캐스팅”) |
|
Registered Address |
187-15, Hwangsobawi-gil, Wollong-myeon,
Paju-si, Gyeonggi-do, Korea |
|
Zip Code |
10945 |
|
Tel |
+82-31-944-6700 |
|
Fax |
+82-31-944-6703 |
|
Trading Address |
187-15, Hwangsobawi-gil, Wollong-myeon,
Paju-si, Gyeonggi-do, Korea (Old Address System : 115-4, Yeongtae
1-ri, Wollong-myeon, Paju-si, Gyeonggi-do, Korea) |
|
Tel |
+82-31-944-6700 |
|
Fax |
+82-31-944-6703 |
|
Type |
Export/Import |
|
Industry |
Wholesales of Metal Products |
|
Main Business |
Steel Products, Metal Casting Products |
|
Sub Business |
|
|
Established (mm/dd/yyyy) |
11/11/1999 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Foundry molds(23161606) |
|
Sell |
Die castings(31101500) |
|
Sell |
Castings(31100000) |
|
Name |
Han Chang-Kyu |
|
Address |
Suite 103-1202, 232, Seombat-ro, Nowon-gu,
Seoul, Korea |
|
Date of Birth |
05/20/1942 |
|
Title |
Co-President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
150,000,000 |
|
Employees |
45 |
|
Formation |
Co., Ltd by Shares |
|
Bank Details |
Shinhan Bank-Bubjo Branch |
|
Corporate Registered No. |
110111-1806045 |
|
Business Registered No. |
214-86-41564 |
|
Permit & Licenses |
12/09/2000 ISO 9001 Int’l Trade No.: 11779739 |
|
Shareholder Position |
N/A |
|
Company History |
11/11/1999 Incorporated as the present name 10/13/2001 Increased capital to 150,000,000
KRW from 50,000,000 KRW |
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Co-President & CEO |
Mr. |
Han Chang-Kyu |
Male |
Korean |
03/31/2011 |
|
Co-President & CEO |
Mr. |
Cheon Kwan-Ho |
Male |
Korean |
03/26/2015 |
|
Director |
Mr. |
Lee Young-Sub |
Male |
Korean |
03/31/2011 |
|
Auditor |
Mr. |
Kim Jung-Ki |
Male |
Korean |
03/31/2014 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2014 |
|
|
|
|
2013 |
12,883,561,000 |
6,758,687,000 |
249,976,000 |
|
2012 |
14,347,042,000 |
6,719,728,000 |
315,204,000 |
|
2011 |
13,364,780,000 |
6,971,962,000 |
232,494,000 |
The latest
financials are not available, and the Subject Company does not have any
obligations to release its financials to the public.
|
Authorized Capital(KRW) |
200,000,000 |
|
Paid-Up Capital(KRW) |
150,000,000 |
|
Total Issued Shares |
30,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Total Assets |
6,758,687,000 |
6,719,728,000 |
6,971,962,000 |
|
Current Assets |
|
|
|
|
-Quick Assets |
|
|
|
|
-Inventories |
|
|
|
|
Fixed Assets |
|
|
|
|
-Investment |
|
|
|
|
-Tangibles |
|
|
|
|
-Intangibles |
|
|
|
|
Total Liabilities |
3,092,050,000 |
3,222,588,000 |
3,699,559,000 |
|
Current Liabilities |
|
|
|
|
Fixed Liabilities |
|
|
|
|
Capital Stock |
150,000,000 |
150,000,000 |
150,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
|
|
|
|
Capital Adjustment |
|
|
|
|
Total Equity |
3,666,637,000 |
3,497,140,000 |
3,272,403,000 |
|
Liab. & Shareholder’s Equity |
6,758,687,000 |
6,719,728,000 |
6,971,962,000 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Sales |
12,883,561,000 |
14,347,042,000 |
13,364,780,000 |
|
Cost of Sold Goods |
|
|
|
|
Gross Profit |
|
|
|
|
Selling & Admin. Expenses |
|
|
|
|
Operating Income |
155,260,000 |
124,846,000 |
10,668,000 |
|
Non-Operating Income |
|
|
|
|
Non-Operating Expenses |
|
|
|
|
Income Before Taxes |
|
|
|
|
Income Taxes Expenses |
|
|
|
|
Net Income |
249,976,000 |
315,204,000 |
232,494,000 |
|
Main Products & Services |
Steel Products, Metal Casting Products |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
SAMJIN SPECIAL METAL CO., LTD.(120111-0116708) |
|
Customers |
|
|
Competitors |
HIMET CORPORATION 50, HWANGGEUM 1-RO, YANGCHON-EUP, GIMPO-SI,
GYEONGGI-DO, KOREA TEL:+82-31-980-7000 FAX:+82-31-986-4321 TAE JOO INDUSTRIAL CD., LTD. 824, UNGNAM-RO, SEONGSAN-GU, CHANGWON-SI,
GYEONGSANGNAM-DO, KOREA TEL:+82-55-282-3006 FAX:+82-55-283-2731 SILVOR CO., LTD. 197-15, DAESIL-RO, JINJEON-MYEON, MASANHAPPO-GU,
CHANGWON-SI, GYEONGSANGNAM-DO, KOREA TEL:+82-55-272-0510~2 FAX:+82-55-272-0513 |
Not Available.
Not Available.
-----
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.29 |
|
|
1 |
Rs.101.88 |
|
Euro |
1 |
Rs.73.98 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.