MIRA
INFORM REPORT
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Report Date : |
10th
November, 2006 |
IDENTIFICATION DETAILS
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Name : |
CALVIN
KLEIN JEANSWEAR KOREA LIMITED |
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Registered Office : |
90, Nonhyeon 2-dong, Gangnam-gu, Seoul, Korea |
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Country : |
Korea |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
16.11.1999 |
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Legal Form : |
Co., Ltd by shares, Foreign Direct
Investment Corporations |
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Line of Business : |
Wholesale of Shirts and Outer Garments |
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 : |
Good |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
Basic
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Company Name |
Calvin Klein Jeanswear Korea Ltd. |
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Address |
90, Nonhyeon
2-dong, Gangnam-gu, SEOUL, KOREA |
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Building |
5th Fl., Daeyong Bldg. |
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Zip Code |
135-818 |
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Tel |
+82-2-516-1811 |
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Fax |
+82-2-516-2811 |
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E-mail |
scha@ckjkr.com |
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Website |
www.ckjkr.com |
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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 |
Wholesale of Shirts and Outer Garments |
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Main Business |
Clothing |
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Sub Business |
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Established |
11/16/1999 |
Detailed Products
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Jean |
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Sell |
Accessory |
Others
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Name |
Suh Byung-Tak |
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Address |
63, Gumi-dong, Bundang-gu, Seongnam-si, Gyeonggi-do 463-809 Korea |
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Date of Birth |
10/24/1961 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
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Capital |
3,810,450,000 KRW |
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Employees |
350 |
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Formation |
Co., Ltd by shares, Foreign Direct
Investment Corporations |
The subject deals with
the companies in Hong Kong and Italy.
The subject imports Calvin Klein’s branded Jeans and
Accessories
Management
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Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Day |
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President & CEO |
Mr. |
Suh Byung-Tak |
Male |
Korean |
10/09/2000 |
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Director |
Mr. |
Simon
Huz |
Male |
UK |
11/16/1999 |
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Director |
Mr. |
Chesare
Peretti |
Male |
Italy |
11/01/2004 |
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Auditor |
Mr. |
Vicen
Jova Cyio |
Male |
Italy |
03/31/2003 |
Financials
Unit: KRW
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Year |
Sales |
Assets |
Net income |
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2005 |
103,357,532,368 |
45,737,478,925 |
9,358,744,063 |
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2004 |
71,826,479,429 |
30,508,601,125 |
4,765,509,674 |
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2003 |
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2002 |
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Financial Description
Unit: KRW
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Authorized
Capital |
5,000,000,000 |
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Paid-Up
Capital |
3,810,450,000 |
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Total Issues Shares |
381,045 |
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Balance
Sheet Unit :
Korean Won |
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As of
12/31/2005 |
As of
12/31/2004 |
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Total Assets |
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45,737,478,925 |
30,508,601,125 |
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Current Assets |
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44,115,665,543 |
25,568,410,024 |
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-Quick
Assets |
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30,580,322,135 |
14,150,541,511 |
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-Inventories |
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13,535,343,408 |
11,417,868,513 |
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Fixed
Assets |
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1,621,813,382 |
4,940,191,101 |
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-Investment |
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820,986,017 |
3,582,158,228 |
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-Tangibles |
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724,306,962 |
1,281,927,319 |
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-Intangibles |
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76,520,403 |
76,105,554 |
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Total Liabilities |
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28,021,768,551 |
22,151,634,814 |
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Current Liabilities |
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26,310,768,551 |
20,547,570,245 |
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Fixed Liabilities |
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1,711,000,000 |
1,604,064,569 |
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Capital Stock |
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3,810,450,000 |
3,810,450,000 |
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Capital Surplus |
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- |
- |
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Profit Surplus |
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13,905,260,374 |
4,546,516,311 |
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Capital Adjustment |
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- |
- |
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Total Equity |
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17,715,710,374 |
8,356,966,311 |
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Liab. & Shareholder’s Equity |
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45,737,478,925 |
30,508,601,125 |
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Income Statement Unit : Korean Won |
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As of
12/31/2005 |
As of
12/31/2004 |
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Sales |
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103,357,532,368 |
71,826,479,429 |
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Cost of Sold Goods |
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25,300,021,975 |
20,082,571,630 |
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Gross Profit |
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78,057,510,393 |
51,743,907,799 |
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Selling
& Admin. Expenses |
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64,381,387,362 |
43,372,256,016 |
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Operating Income |
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13,676,123,031 |
8,371,651,783 |
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Non-Operating Income |
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831,345,928 |
1,457,408,399 |
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Non-Operating expenses |
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1,398,968,271 |
2,563,593,756 |
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Ordinary Income |
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13,108,500,688 |
7,265,466,426 |
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Special Income |
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- |
- |
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Income Before Taxes |
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13,108,500,688 |
7,265,466,426 |
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Income Taxes Expenses |
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3,749,756,625 |
2,499,956,752 |
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Net Income |
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9,358,744,063 |
4,765,509,674 |
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Bank Details |
Korea Exchange Bank |
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Corporate Registered
No. |
110111-1809411 |
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Business Registered
No. |
211-86-59430 |
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Permit &
Licenses |
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Shareholder
Position |
C.K.
Jeanswear N.V.-Netherlands has 100% shares. |
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Company History |
11/16/1999
Established 07/29/2003
Increased capital to 3,810,450,000 KRW 06/01/2004
Changed company name to the present name from CK Jean Korea Co., Ltd. |
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Products, Technologies, Services
Description
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Main Products
& Services |
Calvin
Klein’s branded Jeans and Accessories |
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Detailed
Products Spec. |
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Technologies
Acquired |
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Organization Structure
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Suppliers |
CK Jeanswear Asia Ltd. CK Jeanswear Europe S.P.A Jeanswear services Far East Ltd. SICEM International(Om Project SPA) SICEM Industriale S.P.A |
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Customers |
CK Jeanswear Australia CK Jeanswear Asia Ltd. |
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Competitors |
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Related Parties (Subsidiaries,
Joint-Venture & Affiliates)
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Major Shareholders |
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Cooperative Enterprise |
Calvin Klein Inc. FINGEN S.P.A CK Jeanswear N.V. CK Jeanswear Asia Ltd. CK Jeanswear Europe S.P.A Eurocormar Jeanswear services Far East Ltd.- SICEM International(Om Project SPA) |
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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