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MIRA INFORM REPORT
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Report No. : |
506303 |
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Report Date : |
26.04.2018 |
IDENTIFICATION DETAILS
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Name : |
STEEL
PLUS CORPORATION |
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Registered Office : |
70, Gyeongin-ro 71-gil, Yeongdeungpo-gu, |
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Country : |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
31.05.2005 |
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Com. Reg. No.: |
107-86-64556 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Export/Import Wholesales of Basic Metal
Products HR & CR Stainless Steel, CR Special Steel, Angle, Flat, Round
Bar, Stainless Steel, Round Bar, Specialty Steel, Tubular Products, Steel
Scrap |
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No. of Employees : |
6 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
After emerging from the 1950-53 war with
Beginning in the 1960s under President PARK Chung-hee, the government
promoted the import of raw materials and technology, encouraged saving and
investment over consumption, kept wages low, and directed resources to
export-oriented industries that remain important to the economy to this day.
Growth surged under these policies, and frequently reached double-digits in the
1960s and 1970s. Growth gradually moderated in the 1990s as the economy
matured, but remained strong enough to propel
The Asian financial crisis of 1997-98 hit South Korea’s companies hard because
of their excessive reliance on short-term borrowing, and GDP ultimately plunged
by 7% in 1998.
In 2017, the election of President MOON Jae-in brought a surge in consumer confidence, in part, because of his successful efforts to increase wages and government spending. These factors combined with an uptick in export growth to drive real GDP growth to more than 3%, despite disruptions in South Korea’s trade with China over the deployment of a US missile defense system in South Korea.
In 2018 and beyond, South Korea will contend with gradually slowing economic growth - in the 2-3% range - not uncommon for advanced economies. This could be partially offset by efforts to address challenges arising from its rapidly aging population, inflexible labor market, continued dominance of the chaebols, and heavy reliance on exports rather than domestic consumption. Socioeconomic problems also persist, and include rising inequality, poverty among the elderly, high youth unemployment, long working hours, low worker productivity, and corruption.
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Source
: CIA |
Basic
Information
Basic
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Company Name |
STEEL
PLUS CORPORATION (Korean Company Name : “(주)스틸플러스") |
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Registered Address |
70, Gyeongin-ro 71-gil, Yeongdeungpo-gu,
Seoul, Korea |
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Building |
Rm. 1304, Byucksan Digital Valley |
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Zip Code |
07286 |
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Tel |
+82-2-6275-7572 |
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Fax |
+82-2-6274-7572 |
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E-mail |
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Website |
www.steelplus.co.kr |
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Trading Address |
Rm. 1304, Byucksan Digital Valley, 70,
Gyeongin-ro 71-gil, Yeongdeungpo-gu, Seoul, Korea (Old Address System : Rm. 1304, Byucksan
Digital Valley, 9, Mullae-dong 5-ga, Yeongdeungpo-gu, Seoul, Korea) |
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Tel |
+82-2-6275-7572 |
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Fax |
+82-2-6274-7572 |
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Other Address |
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Tel |
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Fax |
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Type |
Export/Import |
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Industry |
Wholesales of Basic Metal Products |
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Main Business |
HR & CR Stainless Steel, CR Special
Steel, Angle, Flat, Round Bar, Stainless Steel, Round Bar, Specialty Steel,
Tubular Products, Steel Scrap |
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Sub
Business |
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Established (mm/dd/yyyy) |
05/31/2005 |
Detailed
Products
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Activity |
Detailed
Products (UNSPSC) |
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Sell |
Pipe(40142100) |
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Sell |
Stainless steel pipe(40142117) |
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Sell |
Steel bars(30101604) |
CEO’s
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Name |
Lim Myung-Jae |
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Date of Birth |
11/10/1960 |
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Title |
Representative Director |
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Nationality |
Korean |
Profiles
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Capital (KRW) |
200,000,000 |
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Employees |
6 |
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Formation |
Co., Ltd by Shares |
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Bank Details |
N/A |
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Corporate
Registered No. |
110111-3238840 |
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Business
Registered No. |
107-86-64556 |
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Permit &
Licenses |
N/A |
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Shareholder
Position |
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Company
History |
05/31/2005 Incorporated as EWON KST CO., LTD. 05/01/2008
Increased capital to 200,000,000 KRW from 50,000,000 KRW 08/06/2010
Moved to the present HQ address from Rm. 101-1402,
8, Mullae-dong 6-ga, Yeongdeungpo-gu, Seoul, Korea 08/09/2010
Changed company name to the present name |
Detailed
Information
Management
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Job
Description |
Name |
Nationality |
Date of Birth |
Inauguration
Date |
|
Representative Director |
Lim Myung-Jae |
Korean |
11/10/1960 |
04/10/2007 |
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Auditor |
Baik
Hye-Young |
Korean |
09/11/1964 |
03/31/2008 |
Financials
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Year / Unit :
KRW |
Sales |
Assets |
Net Income |
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2016 |
13,169,843,000
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4,062,162,000
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37,286,000
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2015 |
18,743,065,000
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5,590,624,000
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64,650,000
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2014 |
32,630,507,000
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3,988,071,000
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93,715,000
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2013 |
49,385,078,000
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8,641,325,000
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-141,466,000
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2012 |
71,527,153,000 |
8,198,379,000 |
14,330,000 |
Financial
Description
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Authorized
Capital(KRW) |
200,000,000 |
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Paid-Up
Capital(KRW) |
200,000,000 |
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Total Issued
Shares |
40,000 |
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Balance Sheet |
|||
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Unit : Korean
Won |
As of
12/31/2016 |
As of
12/31/2015 |
As of
12/31/2014 |
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Total Assets |
4,062,162,000 |
5,590,624,000 |
3,988,071,000 |
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Current
Assets |
2,831,605,000 |
4,835,791,000 |
3,160,850,000 |
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-Quick Assets |
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-Inventories |
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Fixed Assets |
1,230,557,000 |
754,833,000 |
827,221,000 |
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-Investment |
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-Tangibles |
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-Intangibles |
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Total
Liabilities |
2,209,692,000 |
3,775,440,000 |
2,237,538,000 |
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Current
Liabilities |
1,539,692,000 |
3,105,440,000 |
1,747,538,000 |
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Fixed
Liabilities |
670,000,000 |
670,000,000 |
490,000,000 |
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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 |
1,680,470,000 |
1,643,184,000 |
1,578,533,000 |
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Capital
Adjustment |
-28,000,000 |
-28,000,000 |
-28,000,000 |
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Total Equity |
1,852,470,000 |
1,815,184,000 |
1,750,533,000 |
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Liab. &
Shareholder’s Equity |
4,062,162,000 |
5,590,624,000 |
3,988,071,000 |
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Income Statement |
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Unit : Korean
Won |
As of
12/31/2016 |
As of
12/31/2015 |
As of
12/31/2014 |
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Sales |
13,169,843,000
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18,743,065,000
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32,630,507,000
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Cost of Sold
Goods |
12,484,787,000
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17,256,505,000
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31,146,519,000
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Gross Profit |
685,056,000
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1,486,560,000
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1,483,988,000
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Selling &
Admin. Expenses |
733,400,000
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1,325,882,000
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1,507,273,000
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Operating
Income |
-48,344,000
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160,678,000
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-23,285,000
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Non-Operating
Income |
333,181,000
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351,517,000
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483,709,000
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Non-Operating
Expenses |
247,551,000
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447,545,000
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366,709,000
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Income Before
Taxes |
37,286,000
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64,650,000
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93,715,000
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Income Taxes
Expenses |
0 |
0 |
0 |
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Net Income |
37,286,000
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64,650,000
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93,715,000
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Products,
Technologies, Services Description
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Main Products
& Services |
HR & CR Stainless Steel, CR Special
Steel, Angle, Flat, Round Bar, Stainless Steel, Round Bar, Specialty Steel,
Tubular Products, Steel Scrap |
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Detailed
Products Spec. |
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Technologies
Acquired |
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Trade
Partners & Competitors
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Competitors |
SEAH STEEL
CORPORATION URI BLDG.,
10, BONGNAEDONG 1-GA, JUNG-GU, SEOUL, KOREA TEL:+82-2-3783-8114 FAX:+82-2-3783-8188 GANA
STAINLESS STEEL CO., LTD. 1042,
CHANGGOK-RI, PALTAN-MYEON, HWASEONG-SI, GYEONGGI-DO, KOREA TEL:+82-31-352-4292 FAX:+82-31-354-1305~6 JINBANG STEEL
KOREA CO., LTD. 605, HO-DONG,
NAM-GU, POHANG-SI, GYEONGSANGBUK-DO, KOREA TEL:+82-54-289-5700 FAX:+82-54-278-0421 |
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Sales
by Region (Activity & Markets)
Not Available.
Court
Action
Not Available.
News
Clipping
---
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
INR 66.70 |
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|
1 |
INR 93.14 |
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Euro |
1 |
INR 81.43 |
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KRW |
1 |
INR 0.062 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
VIV |
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.