MIRA
INFORM REPORT
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Report Date : |
31.10.2006 |
IDENTIFICATION
DETAILS
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Name : |
Sinyang Metal Ind. Co., Ltd. |
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Registered Office : |
4-La-301, Shihwa Industrial Complex, 667, Seonggok-dong, Danwon-gu,
Ansan-si, Gyeonggi-do - 425-836 |
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Country : |
Korea |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
05.12.1978 |
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Legal Form : |
Company Limited by shares |
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Line of Business : |
Manufacture of Aluminium Articles. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually
correct |
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Litigation : |
Clear |
Basic
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Company Name |
Sinyang Metal Ind. Co., Ltd. |
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Address |
667, Seonggok-dong,
Danwon-gu, Ansan-si, Gyeonggi-do, Korea |
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Building |
4-La-301, Shihwa Industrial Complex |
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Zip Code |
425-836 |
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Tel |
+82-31-432-3561 |
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Fax |
+82-31-431-3300 |
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E-mail |
symc1@symcsash.co.kr |
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Website |
www.symcsash.co.kr |
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Banwol Factory |
741, Wonsi-dong,
Danwon-gu, Ansan-si, Gyeonggi-do 425-851 Korea |
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Tel |
+82-31-498-3561 |
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Type |
Import/Export |
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Industry |
Manufacture of Aluminium Articles |
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Main
Business |
Aluminium Sash |
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Established |
05/12/1978 |
Detailed Products
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Aluminum Sash |
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Sell |
Aluminum Materials |
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Buy |
Al-Ingot |
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Buy |
Al-Billet |
Others
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Name |
Ha Se-Hong |
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Address |
476-13, Wolpi-dong, Sangnok-gu, Ansan-si, Gyeonggi-do 426-854 Korea |
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Date of Birth |
02/22/1953 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
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Capital |
6,500,000,000
KRW |
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Employees |
230 |
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Formation |
Co., Ltd. by shares |
The subject deals
with the companies in Japan, UK and USA.
Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Day |
|
CO-President & CEO |
Mr. |
Ha Se-Hong |
Male |
Korean |
03/24/2001 |
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CO-President & CEO |
Mr. |
Ha
Jang-Hong |
Male |
Korean |
03/24/2001 |
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Director |
Mr. |
Ha
Sang-Bom |
Male |
Korean |
03/24/2001 |
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Auditor |
M/S |
Song
Myung-Sook |
Female |
Korean |
03/24/2001 |
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Manager |
Mr. |
Yoo
Chan-Jong |
Male |
Korean |
11/20/2003 |
Financials
Unit:
KRW
|
Year |
Sales |
Assets |
Net income |
|
2005 |
101,393,870,103 |
86,107,949,215 |
5,131,427,083 |
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2004 |
97,175,616,726 |
80,298,210,962 |
9,763,726,578 |
Financial Description
Unit: KRW
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Authorized
Capital |
8,800,000,000 |
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Paid-Up
Capital |
6,500,000,000 |
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Total Issues Shares |
650,000 |
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Balance
Sheet Unit :
Korean Won |
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As of
12/31/2005 |
As of
12/31/2004 |
As of
12/31/2003 |
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Total Assets |
86,107,949,215 |
80,298,210,962 |
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Current Assets |
36,293,180,137 |
30,082,962,392 |
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-Quick
Assets |
32,297,951,978 |
22,142,138,654 |
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-Inventories |
3,995,228,159 |
7,940,823,738 |
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Fixed
Assets |
49,814,769,078 |
50,215,248,570 |
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-Investment |
18,710,864,795 |
19,124,887,949 |
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-Tangibles |
31,103,904,283 |
31,090,360,621 |
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-Intangibles |
- |
- |
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Total Liabilities |
21,457,886,979 |
20,771,020,159 |
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Current Liabilities |
19,779,456,954 |
19,286,232,912 |
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Fixed Liabilities |
1,678,430,025 |
1,484,787,247 |
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Capital Stock |
6,500,000,000 |
6,500,000,000 |
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Capital Surplus |
11,895,744,044 |
11,895,744,044 |
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Profit Surplus |
43,222,453,399 |
38,091,026,316 |
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Capital Adjustment |
3,031,864,793 |
3,040,420,443 |
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Total Equity |
64,650,062,236 |
59,527,190,803 |
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Liab. & Shareholder’s Equity |
86,107,949,215 |
80,298,210,962 |
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Income Statement Unit : Korean Won |
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As of
12/31/2005 |
As of
12/31/2004 |
As of
12/31/2003 |
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Sales |
101,393,870,103 |
97,175,616,726 |
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Cost of Sold Goods |
89,134,622,641 |
86,551,391,178 |
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Gross Profit |
12,259,247,462 |
10,624,225,548 |
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Selling
& Admin. Expenses |
7,799,272,406 |
6,697,340,564 |
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Operating Income |
4,459,975,056 |
3,926,884,984 |
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Non-Operating Income |
3,096,695,418 |
8,562,109,295 |
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Non-Operating expenses |
1,148,967,591 |
1,114,386,735 |
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Ordinary Income |
6,407,702,883 |
11,374,607,544 |
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Special Income |
- |
340,270,464 |
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Income Before Taxes |
6,407,702,883 |
11,714,878,008 |
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Income Taxes Expenses |
1,276,275,800 |
1,951,151,430 |
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Net Income |
5,131,427,083 |
9,763,726,578 |
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Bank Details |
Industrial Bank of Korea Banwol Branch |
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Corporate Registered
No. |
130111-0008341 |
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Business Registered
No. |
134-81-02765 |
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Permit &
Licenses |
ISO 9001 |
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Shareholder
Position |
Ha Jang-Hong-50.0% Ha Sang-Bom-28.0% Ha Sang-Jin-22.0% |
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Company History |
05/12/1978
Incorporated as the subject company name 12/1987
Acquired Woosung Nonferrous Metals Industry 11/2002 Awarded
US$10 Million Export Prize |
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Products, Technologies, Services
Description
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Main
Products & Services |
The subject brand name : Sinyang Living Sash The subject manufactures Aluminum Window Sash. -Housing Sash -Curtain Wall for Building -Decoration Door -Aluminum Guardrail -Arc/Civil Site Stepladder -Ivy Panel -Aluminum Framework Hydraulic Cylinder Tube Radiator/AD Signboard Ladder Clean Room Filter Molding Bar Indoor Bar Duct -Conveyor Rail Parts for Ships & Vehicles |
Related Parties (Subsidiaries,
Joint-Venture & Affiliates)
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Subsidiary |
DOSTEM Co., Ltd. |
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Cooperative Enterprise |
TORRID-Canada |
Sales by
Region (Activity &
Markets)
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Sales/ Unit : KRW |
2005 |
2004 |
2003 |
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Export |
23,329,562,583 |
20,457,353,297 |
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Domestic |
75,170,497,256 |
76,048,251,974 |
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Others |
2,893,810,264 |
670,011,455 |
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Total |
101,393,870,103 |
97,175,616,726 |
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RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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