MIRA
INFORM REPORT
|
Report Date : |
23.04.2007 |
IDENTIFICATION
DETAILS
|
Name : |
MOLEX KOREA CO., LTD. |
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|
|
|
Registered Office : |
10B-7, Banwol Industrial Complex, 726-3, Wonsi-dong, Danwon-gu,
Ansan-si, Gyeonggi-Do - 425-851 |
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|
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Country : |
Korea |
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|
|
|
Financials (as on) : |
30.06.2006 |
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|
|
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Date of Incorporation : |
05/31/1984 |
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|
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|
Legal Form : |
Company Limited by shares |
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|
|
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Line of Business : |
Manufacture of Other Electronic Valves, Tubes and Electronic Components |
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 : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
Basic
|
Company
Name |
MOLEX KOREA CO., LTD. |
|
Registered Address |
726-3, Wonsi-dong, Danwon-gu, Ansan-si,
GYEONGGI-DO, KOREA |
|
Building |
10B-7, Banwol Industrial Complex |
|
Zip Code |
425-851 |
|
Tel |
+82-31-492-9000 |
|
Fax |
+82-31-495-8230 |
|
E-mail |
korea@molex.co.kr;molexhr@molex.co.kr |
|
Website |
|
|
Trading Address |
10B-7, Banwol Industrial Complex, 726-3, Wonsi-dong,
Danwon-gu, Ansan-si, GYEONGGI-DO, KOREA |
|
Tel |
+82-31-492-9000 |
|
Fax |
+82-31-495-8230 |
|
Gwangju Factory |
751-7, Jangnok-dong, Gwangsan-gu, GWANGJU,
KOREA |
|
Tel |
+82-62-944-0006 |
|
Fax |
+82-62-944-6711 |
|
Seoul Office |
3FL., Shinsong B/D., 25-4, Yeouido-dong, Yeongdeungpo-gu, Seoul, Korea |
|
Tel |
+82-2-780-2333 |
|
Fax |
+82-2-780-3989 |
|
Gumi Office |
39B-1L, Inui-dong, Gumi-si, Gyeongsangbuk-do, Korea |
|
Tel |
+82-54-474-6132 |
|
Fax |
+82-54-473-6136 |
|
Busan Office |
707-1, Buam 1(il)-dong, Busanjin-gu, Busan, Korea |
|
Tel |
+82-51-818-4660 |
|
Fax |
+82-51-818-4663 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Other Electronic Valves, Tubes and Electronic
Components n.e.c. |
|
Main Business |
Connector, Switch |
|
Established (mm/dd/yyyy) |
05/31/1984 |
The Subject Company owns the premises of
registered address and Gwangju Factory.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Lugs connectors and terminals(39121400) |
|
Sell |
Electrical cable and accessories(26121600) |
|
Sell |
Synchronous dynamic random access memory SDRAM(32101621) |
|
Sell |
Connectors(31163100) |
CEO’s
|
Name |
Jung Jin-Taek |
|
Address |
731, Seongbok-dong,
Suji-gu, Yongin-si, Gyeonggi-do, Korea |
|
Date of Birth |
08/22/1942 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital |
7,510,000,000 KRW |
|
Employees |
300 |
|
Formation |
Co., Ltd by shares, Foreign Direct
Investment Corporations by USA |
|
Bank Details |
Woori Bank |
|
Corporate Registered No. |
130111-0010601 |
|
Business Registered No. |
134-81-06005 |
|
Permit & Licenses |
10/1985 UL 08/1988 CSA 12/1994 ISO 9001 12/01/1995 JIS 11/08/1996 Single PPM 06/1998 JIS 06/1998 QS 9000 12/1998 KS 07/2002 ISO 14001 Int’l Trade No.: 8990358 |
|
Shareholder Position |
Molex International Inc.-USA has 100% shares. |
|
Company History |
05/31/1984 Established 07/01/1994 Acquire Hyundai Press Connector
Co., Ltd. 11/2003 Awarded US$20 Million Export Top
Prize 05/2004 Awarded Bronze Top Decoration |
The Subject manufactures the electronics
components including electronic connectors, and imports.
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Day |
|
President & CEO |
Mr. |
Jung Jin-Taek |
Male |
Korean |
04/07/2000 |
|
Director |
Mr. |
Martin P. Slack |
Male |
USA |
04/07/2006 |
|
Director |
Mr. |
Riam McKathy |
Male |
Ireland |
09/26/2006 |
|
Director |
Mr. |
Robert B. Mahony |
Male |
USA |
10/20/2006 |
|
Auditor |
Mr. |
Sung Kwang-Jae |
Male |
Korean |
11/03/2004 |
Financials
Unit: KRW
|
Year |
Sales |
Assets |
Net income |
|
2006 |
139,765,386,426 |
134,420,825,026 |
12,005,651,316 |
|
117,282,476,146 |
116,718,487,055 |
12,776,489,581 |
|
|
2004 |
107,292,828,586 |
101,694,554,108 |
13,402,872,551 |
Financial Description
Unit: KRW
|
Authorized
Capital |
10,000,000,000 |
|
Paid-Up
Capital |
7,510,000,000 |
|
Total Issues Shares |
751,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 06/30/2006 |
As of 06/30/2005 |
As of 06/30/2004 |
|
Total Assets |
134,420,825,026 |
116,718,487,055 |
101,694,554,108 |
|
Current Assets |
91,243,254,751 |
78,007,297,616 |
68,429,613,175 |
|
-Quick Assets |
80,241,255,430 |
69,343,809,208 |
58,507,605,457 |
|
-Inventories |
11,001,999,321 |
8,663,488,408 |
9,922,007,718 |
|
Fixed Assets |
43,177,570,275 |
38,711,189,439 |
33,264,940,933 |
|
-Investment |
2,442,091,200 |
2,275,448,122 |
2,334,717,577 |
|
-Tangibles |
40,735,479,075 |
36,435,741,317 |
30,930,223,356 |
|
-Intangibles |
- |
- |
- |
|
Total Liabilities |
25,139,628,078 |
19,442,941,423 |
17,195,498,057 |
|
Current Liabilities |
23,508,784,586 |
17,948,001,169 |
15,869,143,388 |
|
Fixed Liabilities |
1,630,843,492 |
1,494,940,254 |
1,326,354,669 |
|
Capital Stock |
7,510,000,000 |
7,510,000,000 |
7,510,000,000 |
|
Capital Surplus |
782,430,031 |
782,430,031 |
782,430,031 |
|
Profit Surplus |
100,988,766,917 |
88,983,115,601 |
76,206,626,020 |
|
Capital Adjustment |
- |
- |
- |
|
Total Equity |
109,281,196,948 |
97,275,545,632 |
84,499,056,051 |
|
Liab. & Shareholder’s Equity |
134,420,825,026 |
116,718,487,055 |
101,694,554,108 |
|
Current Liabilities |
23,508,784,586 |
17,948,001,169 |
15,869,143,388 |
|
Trade Payables |
13,092,477,287 |
10,746,406,907 |
6,225,015,415 |
|
Account Payables |
6,340,595,858 |
3,126,077,321 |
5,819,247,764 |
|
Advance Receipts |
38,287,378 |
38,488,007 |
282,697,618 |
|
Withholdings |
254,318,868 |
213,947,007 |
214,701,583 |
|
Accrued Expenses |
1,120,952,818 |
1,117,680,918 |
993,941,006 |
|
Accrued Income Tax |
2,662,152,377 |
2,705,401,009 |
2,333,540,002 |
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Fixed Liabilities |
1,630,843,492 |
1,494,940,254 |
1,326,354,669 |
|
Provision for Severance & Retirement |
4,350,476,480 |
4,043,548,884 |
3,661,355,674 |
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Provision for Severance Insurance |
(-)2,610,285,888 |
(-)2,426,129,330 |
(-)2,196,813,405 |
|
Transferred to the National pension Fund |
(-)109,347,100 |
(-)122,479,300 |
(-)138,187,600 |
As of 03/2006, The Subject gave a loan, US$30,000,000, to Molex Japan
Co., Ltd.
|
Income Statement |
|||
|
Unit : Korean Won |
As of 06/30/2006 |
As of 06/30/2005 |
As of 06/30/2004 |
|
Sales |
139,765,386,426 |
117,282,476,146 |
107,292,828,586 |
|
Cost of Sold Goods |
107,856,448,489 |
87,481,276,302 |
76,257,110,194 |
|
Gross Profit |
31,908,937,937 |
29,801,199,844 |
31,035,718,392 |
|
Selling & Admin. Expenses |
17,410,003,483 |
15,200,327,743 |
15,314,408,273 |
|
Operating Income |
14,498,934,454 |
14,600,872,101 |
15,721,310,119 |
|
Non-Operating Income |
4,254,333,461 |
4,162,437,568 |
3,704,883,199 |
|
Non-Operating expenses |
2,883,269,811 |
1,206,492,581 |
769,537,078 |
|
Ordinary Income |
15,869,998,104 |
17,556,817,088 |
18,656,656,240 |
|
Special Income |
- |
- |
- |
|
Income Before Taxes |
15,869,998,104 |
17,556,817,088 |
18,656,656,240 |
|
Income Taxes Expenses |
3,864,346,788 |
4,780,327,507 |
5,253,783,689 |
|
Net Income |
12,005,651,316 |
12,776,489,581 |
13,402,872,551 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 06/30/2006 |
As of 06/30/2005 |
As of 06/30/2004 |
|
Cash Flows from Operating |
19,195,225,859 |
21,548,295,414 |
15,881,792,837 |
|
-Net Income |
12,005,651,316 |
12,776,489,581 |
13,402,872,551 |
|
-Exp. without Cash Outflow |
8,669,498,845 |
7,365,641,481 |
7,854,501,692 |
|
-Revenue without Cash Inflows |
(-)101,946,760 |
(-)684,219,869 |
(-)862,331,506 |
|
-Changes in Asset/ & Liability |
(-)1,377,977,542 |
2,090,384,221 |
(-)4,513,249,900 |
|
Cash Flows from Investing |
(-)40,384,187,577 |
(-)11,789,634,016 |
(-)6,108,205,385 |
|
-Cash Inflow from Investing |
486,957,154 |
49,746,945 |
353,703,941 |
|
-Cash Outflows for Investing |
(-)40,871,144,731 |
(-)11,839,380,961 |
(-)6,461,909,326 |
|
Cash Flows from Financing |
- |
- |
- |
|
-Cash Inflows from Financing |
- |
- |
- |
|
-Cash Outflows from Financing |
- |
- |
- |
|
Increase/Decrease in Cash |
(-)21,188,961,718 |
9,758,661,398 |
9,773,587,452 |
|
Cash at the Beginning of Year |
48,045,097,537 |
38,286,436,139 |
28,512,848,687 |
|
Cash at the End of Year |
26,856,135,819 |
48,045,097,537 |
38,286,436,139 |
Products,
Technologies, Services
Description
|
Main
Products & Services |
Electronic Connector |
Trade Partners
|
Suppliers |
LEEKU INDUSTRIAL CO., LTD |
Related Parties
(Subsidiaries, Joint-
Venture &
Affiliates)
|
Affiliates |
Molex-International Molex-Japan Molex-HongKong Molex-Singapore Molex-Thailand Molex-Malaysia Molex-Shanghai Molex-Taiwan Molex-Ireland Molex-U.S.A Molex-Brazil Molex-Interco AG Molex-ETT Molex-India Molex-Mafatlal Molex-Mexico |
|
Cooperative Enterprise |
As of 07/1986, The Subject has signed the
agreement on the usage of technologies with Molex International, Inc.,
according to this agreement, the subject company pays 3% ~ 10% out of net
sales from the products sales used this technologies. As of 09/2003, The Subject has signed the
agreement on the usage of technologies with Molex Premise Networks, Inc.,
according to this agreement, the subject company pays 4.5% out of net sales
from the products sales used this technologies. |
Sales by Region (Activity &
Markets)
The Subject deals with the companies in China, Taiwan and Japan.
Court Action
No
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)