MIRA
INFORM REPORT
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Report Date : |
31st
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
SSCP
CO., LTD. |
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Registered Office : |
629-3,
Seonggok-dong, Danwon-gu, Ansan-si, GYEONGGI-DO |
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Country : |
Korea |
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Financials (as on) : |
30.09.2006 |
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Date of Incorporation : |
31.07.1985 |
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Legal Form : |
Listed Company |
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Line of Business : |
Manufacture
of General Paints and Similar Products |
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 : |
Regular |
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Litigation : |
Clear |
Basic
Information
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Company Name |
SSCP
Co., Ltd. |
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Address |
629-3,
Seonggok-dong, Danwon-gu, Ansan-si, GYEONGGI-DO, KOREA |
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Building |
609B-11 |
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Zip Code |
425-833 |
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Tel |
+82-31-490-4200 |
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Fax |
+82-31-490-3511 |
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Website |
www.sscpcorp.com |
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Gimhae Factory |
195, Yangdong-ri,
Juchon-myeon, Gimhae-si, GYEONGSANGNAM-DO, KOREA |
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Tel |
+82-55-3299-1241 |
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Jinyeong Factory |
315-1,
Bonsan-ri, Jinyeong-eup, Gimhae-si, GYEONGSANGNAM-DO, KOREA |
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Tel |
+82-55-345-0600 |
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Fax |
+82-55-345-2711 |
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Ansan 2nd Factory |
403-2,
Mongnae-dong, Danwon-gu, Ansan-si, Gyeonggi-do, Korea |
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Tel |
+82-31-490-3600 |
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Type |
Export |
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Industry |
Manufacture
of General Paints and Similar Products |
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Main Business |
Paint,
Resin, UV Paint |
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Established |
07/31/1985 |
Detailed Products
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Activity |
Detailed
Products (UNSPSC) |
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Sell |
Coating
paints(31211504) |
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Sell |
Finishing
Agent. Paint for Plastic |
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Sell |
Leather
Binder |
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Sell |
Ink
for Toy |
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Buy |
Titanium |
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Buy |
Aluminum
paste |
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Buy |
IBAC |
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Buy |
CAB |
Others
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Name |
Oh
Jung-Hyun |
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Address |
- |
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Date of
Birth |
08/18/1971 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
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Capital |
7,997,500,000 KRW |
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Employees |
386 |
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Formation |
Listed Company (KOSDAQ : 071660 ), Venture Business |
The subject deals with the companies in China and
Indonesia.
Management
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Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
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Chairman & CEO |
Mr. |
Oh Joo-Eon |
Korean |
38.8.10 |
Dongah University |
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President & CEO |
Mr. |
Oh Jung-Hyun |
Korean |
71.8.18 |
Cornell University |
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Director |
Mr. |
Sung Young-Soo |
Korean |
55.6.5 |
Young Nam Commercial High |
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Auditor |
Mr. |
Seo Suck-Yoon |
Korean |
45.3.18 |
Worked for AT&T Bell |
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Outside Director |
Mr. |
Song Mo-Chung |
Korean |
62.12.6 |
Korea University |
Financials
Unit: KRW
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Year |
Sales |
Assets |
Net income |
|
2005 |
121,069,544,691 |
175,865,456,432 |
9,876,270,941 |
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2004 |
93,972,632,152 |
127,544,333,864 |
7,049,587,702 |
Financial Description
Unit: KRW
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Authorized
Capital |
25,000,000,000 |
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Paid-Up
Capital |
7,997,500,000 |
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Total Issues Shares |
15,995,000 |
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Balance Sheet Unit : Million Korean Won |
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As of 09/30/2006 |
As of 12/31/2005 |
As of 12/31/2004 |
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Total Assets |
222,473 |
175,865 |
127,544 |
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Current Assets |
119,639 |
97,465 |
55,771 |
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-Quick
Assets |
83,194 |
69,237 |
37,816 |
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-Inventories |
36,445 |
28,228 |
17,956 |
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Fixed
Assets |
102,834 |
78,401 |
71,773 |
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-Investment |
16,855 |
9,668 |
8,694 |
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-Tangibles |
70,026 |
52,987 |
48,774 |
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-Intangibles |
15,592 |
15,746 |
14,305 |
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Total Liabilities |
115,089 |
84,969 |
75,600 |
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Current Liabilities |
99,615 |
67,165 |
58,981 |
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Fixed Liabilities |
18482 |
17,805 |
16,619 |
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Capital Stock |
7,997 |
7,700 |
5,954 |
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Capital Surplus |
38,183 |
32,154 |
8,246 |
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Profit Surplus |
61,828 |
48,358 |
38,481 |
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Capital Adjustment |
633 |
2,685 |
(-)737 |
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Total Equity |
107,384 |
90,896 |
51,944 |
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Liab. & Shareholder’s Equity |
222,473 |
175,865 |
127,544 |
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Income Statement Unit : Million 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 |
116,146 |
121,070 |
93,973 |
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Cost of Sold Goods |
79,846 |
85,307 |
69,866 |
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Gross Profit |
36,301 |
35,763 |
24,106 |
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Selling
& Admin. Expenses |
15,133 |
19,912 |
13,326 |
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Operating Income |
21,169 |
15,851 |
10,780 |
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Non-Operating Income |
2,686 |
5,265 |
3,661 |
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Non-Operating expenses |
6,569 |
7,706 |
5,770 |
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Ordinary Income |
17,285 |
13,411 |
8,671 |
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Special Income |
- |
- |
- |
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Income Before Taxes |
17,285 |
13,411 |
8,671 |
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Income Taxes Expenses |
3,805 |
3,535 |
1,622 |
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Net Income |
13,480 |
9,876 |
7,050 |
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Bank Details |
Hana Bank Gyunggi Corporate Finance HQ |
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Corporate Registered No. |
134111-0011928 |
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Business Registered No. |
134-81-00433 |
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Permit & Licenses |
Int’l Trade No.: 960188 10/1996 ISO 9001 06/2006 ISO 14001 |
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Shareholder Position |
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Company History |
07/2006 Awarded for the best company in
technology management renovation in 2006 (supervised by the Korean Economic
Newspaper). Develop of UV coatings for Optic Fiber production. 06/2006 Obtained ISO 14001 certification 10/2005 Registered in Korea Stock Market
(KOSDAQ) 07/2005 Awarded for the best company in
technology management renovation in 2005 (supervised by the Korean Economic
Newspaper) 01/2005 Established juridical office in
Thailand. 12/2004 ERP system reconstruction contract
11/2004 IPO supervising company contract
(Mirae Asset) 09/2004 Awarded for the best company for
the eco friendly management company in 2004 (supervised by the Korean
Economical Newspaper) 11/2003 Undertaking chemical business of
Alkens Co. Ltd. 07/2003 Induced capital from the 1 st
deposit money bank 05/2003 Re-certification of venture
company (as R&D company) 04/2003 Established juridical office in
Tianjin , China 04/2003 Affiliated with Schramm Coatings
in Germany for developing car surface coating 04/2003 Obtained SONY GREEN PARTNER
(Eco-friend) certification 02/2003 Established branch factory office
in Jinyoung, Gimhae 01/2003 Renamed (from Samsung chemical
paints Samsung Chemical paints Co. Ltd. -> SSCP Co. Ltd.) 01/2003 Registered domestic patent
(N0371840, ultraviolet special coating for life health material U.V curing
special coating manufacture) 01/2003 Appointed name rewriting agency
(Korea Securities Depository) 12/2002 Began Capital increase with
consideration (Owner allotment, 0.13 per 1 stock) 12/2002 Began Capital increase without
consideration (100%) 10/2002 Constructed new factory in
Jinyoung, Gimhae 11/2002 Assumption of new CEO, Oh Jung
Hyun 08/2002 Registered international patent
(NUS2002-0071903, manufacture conductive transparent thin film coating
treatment for IT material) 08/2002 Established juridical office in
Huizhou, China 07/2002 Established jointed juridical
office in Hongkong, China 06/2002 Established juridical office in
Shanghai, China 06/2002 Stock par partition (5,000 won
-> 500 won) 07/2001 Induced 900 million won from
IPartner Venture investment Inc. 07/2001 Built up knowledge management
system (KMS) 06/2001 Registered domestic patent
(N0300091, sensitization resin manufacture for display machine material) 04/2001 Registered venture company 03/2001 Built up ERP system 01/2001 Registered domestic patent (N W
250826, for special coating of hard adhesion material) 01/2000 Established branch factory office
in Joochon, Gimhae 01/2000 Merged Samsung Chemical Paint(Co.
Ltd.) with Samsung Chemical Industry(Co. Ltd.) 10/1999 Established independent R&D
Center 02/1999 Appointed ad national competitive
company 11/1996 Obtained ISO 9001 certification 09/1996 Established the 2 nd R&D
center 03/1991 Developed UV Coating for plastic 10/1987 Established the 1 st R&D center
07/1985 Established Samsung Chemical Paint
Co. Ltd. 05/1976 Began to manufacture Coating for
plastic 05/1973 Established Samsung Chemical
Industry Co. Ltd. |
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Products, Technologies, Services
Description
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Main
Products & Services |
Coatings for Mobile/Automotive/Electronic/Home
Appliance Optical Coating Materials |
Trade
Partners
|
Suppliers |
Daelim Corporation SK Corporation M Chemicals Samsung Corporation Samsung Petrochemical LG Chemical Bayer Nagase Origin Electronics Itochu Corporation Silberline OCI Corporation TOYO Silberline Ashai Showa |
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Customers |
Samsung
Electronics LG
Electronics Hyundai
Motor Company Kia
Motor Company Samsung
SDI LG
Micron Humax LG-IBM |
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Competitors |
ORIGIN AKZO NOBEL BECKER |
Related Parties (Subsidiaries,
Joint-Venture & Affiliates)
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Overseas Office |
Samsung Chemical Industry Co., Ltd.(Tianjin,
China) HAN
SHENG CHEMICAL SAMSUNG
BESTVIEW HK Guangdong Office SSCP Thailand |
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Join Venture |
Schramm-SSCP
Co., Ltd |
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Subsidiary |
SSCP
USA Incorporated MIFPD |
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Cooperative Enterprise |
AKZO NOBEL SCHRAMM COATINGS OKURA CHEM-TECH |
Sales by
Region (Activity &
Markets)
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Sales/ Unit :Mil KRW |
09/30/2006 |
2005 |
2004 |
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Export |
55,810 |
78,695 |
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Domestic |
60,336 |
42,375 |
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Total |
116,146 |
121,070 |
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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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