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Report No. : |
341834 |
|
Report Date : |
22.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
MISUNG MOOLSAN CO., LTD. |
|
|
|
|
Registered Office : |
48,
Yutongdanji 1-ro 58beon-gil, Gangseo-gu, Busan, Rm.301, Busan Materials Industry
Yutong Korea, 46721 |
|
|
|
|
Country : |
South
Korea |
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|
|
|
Financials (as on) : |
30.06.2015 |
|
|
|
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Date of Incorporation : |
04.11.1994 |
|
|
|
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Com. Reg. No.: |
606-81-55210 |
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|
|
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Legal Form : |
Co., Ltd by Shares |
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|
|
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Line of Business : |
Wholesales of Chemicals (Inorganic Chemicals, Food Additives,
Cosmetics Materials, Dyes, Paint, Ink, Rubber, Plastic Materials, Warehousing
Services, Transportation Services) |
|
|
|
|
No. of Employees : |
10 |
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 |
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|
|
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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 |
|
High |
B2 |
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Very High |
C1 |
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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 |
MISUNG MOOLSAN CO., LTD. |
|
Registered Address |
48, Yutongdanji
1-ro 58beon-gil, Gangseo-gu, Busan, Korea |
|
Building |
Rm.301, Busan Materials Industry Yutong |
|
Zip Code |
46721 |
|
Tel |
+82-51-315-8753 |
|
Fax |
+82-51-315-8756 |
|
E-mail |
thislee@mwc.co.kr |
|
Website |
www.mschem.co.kr |
|
|
|
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Trading Address |
Rm.301,
Busan Materials Industry Yutong, 48, Yutongdanji 1-ro 58beon-gil, Gangseo-gu,
Busan, Korea (Old Address
System : Rm.301, Busan Materials Industry Yutong 3136-2, Daejeo 2-dong,
Gangseo-gu, Busan, Korea) |
|
Tel |
+82-51-315-8753 |
|
Fax |
+82-51-315-8756 |
|
|
|
|
Type |
Export/Import |
|
Industry |
Wholesales of Chemicals |
|
Main Business |
Inorganic Chemicals, Food Additives,
Cosmetics Materials, Dyes, Paint, Ink, Rubber, Plastic Materials, Warehousing
Services, Transportation Services |
|
|
|
|
Established (mm/dd/yyyy) |
11/04/1994 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Chemicals including Bio Chemicals and Gas
Materials(12000000) |
|
Name |
Park Min-Ki |
|
Address |
Suite 102-204, 52, Chunghun-ro, Manan-gu,
Anyang-si, Gyeonggi-do, Korea |
|
Date of Birth |
03/21/1959 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
225,000,000 |
|||||||||||||||
|
Employees |
10 |
|||||||||||||||
|
Formation |
Co., Ltd by Shares A Company of MIWON COMMERCIAL GROUP |
|||||||||||||||
|
Bank Details |
Citibank, Korea-Hakjang Dong Branch Industrial Bank of Korea KEB Hana Bank Korea Development Bank |
|||||||||||||||
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Corporate Registered No. |
1801110-167832 |
|||||||||||||||
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Business Registered No. |
606-81-55210 |
|||||||||||||||
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Permit & Licenses |
Int’l Trade No.: 12031764 |
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Shareholder Position |
|
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Company History |
11/04/1994 Incorporated (*The initial
company name is not available.) 11/07/1994 Changed company name to the
present name 01/25/2005 Moved to 3FL., 123-49, Gamjeon-dong, Sasang-gu, Busan, Korea from 651-1, Eomgung-dong, Sasang-gu, Busan, Korea 08/22/2008 Increased the authorized shares
to 2,000,000 shares from 300,000 shares 05/16/2013 Moved to the present HQ address
from 3FL., 123-49, Gamjeon-dong, Sasang-gu,
Busan, Korea |
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|
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Park Min-Ki |
Male |
Korean |
03/21/1959 |
|
Director |
Mr. |
Kim Jung-Man |
Male |
Korean |
08/20/2012 |
|
Auditor |
Mr. |
Jung Kyung-Yong |
Male |
Korean |
08/20/2015 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
13,035,768,321 |
11,317,037,616 |
195,347,424 |
|
|
06/2014 |
12,139,295,640 |
10,162,823,443 |
100,750,626 |
|
06/2013 |
12,027,850,000 |
9,284,047,000 |
849,700,000 |
|
Authorized Capital(KRW) |
10,000,000,000 |
|
Paid-Up Capital(KRW) |
225,000,000 |
|
Total Issued Shares |
45,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 06/30/2015 |
As of 06/30/2014 |
As of 06/30/2013 |
|
Total Assets |
11,317,037,616 |
10,162,823,443 |
9,284,047,000 |
|
Current Assets |
3,244,559,799 |
2,696,591,200 |
|
|
-Quick Assets |
2,456,584,138 |
1,957,337,255 |
|
|
-Inventories |
787,975,661 |
739,253,945 |
|
|
Fixed Assets |
8,072,477,817 |
7,466,232,243 |
|
|
-Investment |
6,364,370,707 |
5,533,665,607 |
|
|
-Tangibles |
1,703,044,110 |
1,815,788,816 |
|
|
-Intangibles |
|
|
|
|
-Others |
5,063,000 |
116,777,820 |
|
|
Total Liabilities |
2,716,167,438 |
2,243,119,944 |
503,712,000 |
|
Current Liabilities |
363,931,559 |
2,118,673,096 |
|
|
Fixed Liabilities |
2,352,235,879 |
124,446,848 |
|
|
Capital Stock |
225,000,000 |
225,000,000 |
225,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
6,358,037,026 |
6,162,689,602 |
|
|
Capital Adjustment |
2,017,833,152 |
1,532,013,897 |
|
|
Total Equity |
8,600,870,178 |
7,919,703,499 |
8,780,335,000 |
|
Liab. & Shareholder’s Equity |
11,317,037,616 |
10,162,823,443 |
9,284,047,000 |
|
Current Liabilities |
363,931,559 |
2,118,673,096 |
|
|
Trade Payables |
16,175,348 |
- |
|
|
Account Payables |
95,128,881 |
50,778,846 |
|
|
Withholdings |
633,830 |
3,257,530 |
|
|
Advance Receipts |
1,129,258 |
12,327,707 |
|
|
Short-Term Borrowings |
163,169,695 |
2,047,947,370 |
|
|
Deferred Income Tax Credit |
83,387,698 |
- |
|
|
Accrued Expenses |
4,306,849 |
4,361,643 |
|
|
Fixed Liabilities |
2,352,235,879 |
124,446,848 |
|
|
Long-Term Borrowings |
2,000,000,000 |
- |
|
|
Provision for Severance & Retirement |
352,235,879 |
124,446,848 |
|
|
Income Statement |
|||
|
Unit : Korean Won |
As of 06/30/2015 |
As of 06/30/2014 |
As of 06/30/2013 |
|
Sales |
13,035,768,321 |
12,139,295,640 |
12,027,850,000 |
|
Cost of Sold Goods |
11,390,290,883 |
10,548,565,561 |
|
|
Gross Profit |
1,645,477,438 |
1,590,730,079 |
|
|
Selling & Admin. Expenses |
1,295,463,859 |
1,495,362,626 |
|
|
Operating Income |
350,013,579 |
95,367,453 |
232,524,000 |
|
Non-Operating Income |
91,090,189 |
139,331,774 |
|
|
Non-Operating Expenses |
163,670,868 |
128,332,326 |
|
|
Income Before Taxes |
277,432,900 |
106,366,901 |
|
|
Income Taxes Expenses |
82,085,476 |
5,616,275 |
|
|
Net Income |
195,347,424 |
100,750,626 |
849,700,000 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 06/30/2015 |
As of 06/30/2014 |
As of 06/30/2013 |
|
Cash Flows from Operating |
375,379,596 |
520,628,090 |
|
|
-Net Income |
195,347,424 |
100,750,626 |
|
|
-Exp. without Cash Outflow |
404,415,349 |
498,568,781 |
|
|
-Revenue without Cash Inflows |
-56,649,730 |
-32,898,313 |
|
|
-Changes in Asset/ & Liability |
-167,733,447 |
-45,793,004 |
|
|
Cash Flows from Investing |
-199,017,597 |
-1,924,970,406 |
|
|
-Cash Inflow from Investing |
884,970,902 |
1,236,277,845 |
|
|
-Cash Outflows for Investing |
-1,083,988,499 |
-3,161,248,251 |
|
|
Cash Flows from Financing |
116,189,239 |
1,556,331,699 |
|
|
-Cash Inflows from Financing |
4,930,581,481 |
4,769,822,722 |
|
|
-Cash Outflows from Financing |
-4,814,392,242 |
-3,213,491,023 |
|
|
Increase/Decrease in Cash |
292,551,238 |
151,989,383 |
|
|
Cash at the Beginning of Year |
243,694,443 |
91,705,060 |
|
|
Cash at the End of Year |
536,245,681 |
243,694,443 |
|
|
Main Products & Services |
Chemicals |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Competitors |
HAN KYUNG CHEMICAL CO., LTD. 25B-10L, NAMDONG INDUSTRIAL COMPLEX, 446-9,
NONHYEON-DONG, NAMDONG-GU, INCHEON, KOREA TEL:+82-32-818-0146 FAX:+82-32-819-7298 SBI CORPORATION RM. 204, 418-3, SINDORIM-DONG, GURO-GU,
SEOUL, KOREA TEL:+82-2-2633-2585 FAX:+82-2-2633-2596 KUKJAE CHEMICAL CO., LTD. 36-3, SEGOK-RI, BONGDAM-EUP, HWASEONG-SI,
GYEONGGI-DO, KOREA TEL:+82-31-227-0672 FAX:+82-31-298-0671 |
|
Affiliates |
MISUNG TRADING CO., LTD.(134111-0025929) MIWON COMMERCIAL CO., LTD.(130111-0007707) MIHWA LOGISTICS CO., LTD.(230111-0072014) TAETWANG FINE CHEMICAL CO.,
LTD.(120111-0052142) ASIA STABILIZERS CO., LTD.(ASCL: 134711-0016596) MISUNG TOTAL CORPORATION(180111-0167832) MIWOO CORPORATION(KOREA) MIWON EOD CO., LTD.(161411-0023544) DONGNAM CHEMICAL CO., LTD.(110111-0057012) MIWON SPECIALTY CHEMICAL CO.,
LTD.(210111-0063190) |
|
Sales/ Unit : KRW |
2015 |
2014 |
2013 |
|
Export |
52,969,371 |
- |
|
|
Domestic |
12,982,798,950 |
12,139,295,640 |
|
|
Total |
13,035,768,321 |
12,139,295,640 |
|
The Subject imports
from Malaysia and China.
No.
-------------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.75 |
|
|
1 |
Rs.102.17 |
|
Euro |
1 |
Rs.74.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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 |
|
|
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.