MIRA
INFORM REPORT
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Report Date : |
12.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
Hoong A Corporation |
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Registered Office : |
83-4, Dodang-dong, Wonmi-gu, Bucheon-si,
Gyeonggi-Do 420-803 |
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Country : |
Korea |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
12/17/1991 |
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Legal Form : |
Company
Limited by shares |
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Line of Business : |
Manufacture of Packing Machinery and
Containers Cleaning Machinery |
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
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Company Name |
Hoong A Corporation |
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Address |
83-4, Dodang-dong, Wonmi-gu, Bucheon-si,
GYEONGGI-DO, KOREA |
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Zip Code |
420-803 |
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Tel |
+82-32-675-1511 |
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Fax |
+82-32-675-1512 |
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E-mail |
sales@hoonga.com |
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Website |
www.hoonga.com |
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Type |
Export/Import |
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Industry |
Manufacture of Packing Machinery and
Containers Cleaning Machinery |
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Main Business |
Blister Packaging Systems, Cartoning
Machine, Inspector |
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Established |
12/17/1991 |
Detailed Products
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Packaging machinery(23152900) |
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Sell |
Cartoning machinery(24102107) |
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Sell |
Sifters(23151608) |
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Sell |
Packaging machinery(23152900) |
Others
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Name |
Kang Shin-Young |
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Address |
329,
Sinjeong-dong, Yangcheon-gu, Seoul 158-070 Korea |
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Date
of Birth |
04/17/1958 |
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Title
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President & CEO |
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Sex |
Male |
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Nationality |
Korean |
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Capital
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600,000,000 KRW |
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Employees |
67 |
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Formation |
Co.,
Ltd by shares |
The
subject deals with the companies in China, India, Iran, Sweden and USA.
Management
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Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Day |
|
President
& CEO |
Mr. |
Kang Shin-Young |
Male |
Korean |
03/31/2003 |
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Director |
Mr. |
Kang Dae-Hee |
Male |
Korean |
03/27/2000 |
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Director |
Mr. |
Kang Shin-Young |
Male |
Korean |
03/27/2000 |
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Director |
M/S. |
Kang Shin-Won |
Female |
Korean |
03/27/2000 |
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Director |
M/S. |
Kang Shin-Sook |
Female |
Korean |
03/27/2000 |
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Auditor |
M/S. |
Jeong Tae-Yong |
Female |
Korean |
03/27/2000 |
Financials
Unit:
KRW
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Year |
Sales |
Assets |
Net income |
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2005 |
11,336,570,931 |
10,695,174,582 |
947,730,212 |
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2004 |
12,420,404,604 |
9,527,586,853 |
1,286,075,610 |
Financial Description
Unit: KRW
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Authorized
Capital |
2,400,000,000 |
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Paid-Up
Capital |
600,000,000 |
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Total
Issues Shares |
60,000 |
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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 |
10,695,174,582 |
9,527,586,853 |
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Current
Assets |
7,549,711,915 |
6,143,786,960 |
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-Quick Assets |
3,931,446,772 |
3,674,650,948 |
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-Inventories |
3,618,265,143 |
2,469,136,012 |
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Fixed Assets |
3,145,462,667 |
3,383,799,893 |
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-Investment |
560,257,492 |
600,295,286 |
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-Tangibles |
2,420,586,502 |
2,644,716,229 |
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-Intangibles |
164,618,673 |
138,788,378 |
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Total
Liabilities |
3,924,597,606 |
3,574,740,089 |
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Current
Liabilities |
2,655,302,253 |
2,225,943,948 |
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Fixed
Liabilities |
1,269,295,353 |
1,348,796,141 |
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Capital
Stock |
600,000,000 |
600,000,000 |
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Capital
Surplus |
- |
- |
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Profit
Surplus |
6,170,576,976 |
5,352,846,764 |
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Capital
Adjustment |
- |
- |
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Total
Equity |
6,770,576,976 |
5,952,846,764 |
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Liab.
& Shareholder’s Equity |
10,695,174,582 |
9,527,586,853 |
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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 |
11,336,570,931 |
12,420,404,604 |
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Cost
of Sold Goods |
7,229,524,340 |
7,867,132,200 |
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Gross
Profit |
4,107,046,591 |
4,553,272,404 |
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Selling
& Admin. Expenses |
2,898,919,967 |
2,719,490,655 |
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Operating
Income |
1,208,126,624 |
1,833,781,749 |
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Non-Operating
Income |
162,722,950 |
195,294,970 |
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Non-Operating
expenses |
177,703,462 |
377,247,507 |
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Ordinary
Income |
1,193,146,112 |
1,651,829,212 |
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Special
Income |
- |
- |
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Income
Before Taxes |
1,193,146,112 |
1,651,829,212 |
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Income
Taxes Expenses |
245,415,900 |
365,753,602 |
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Net
Income |
947,730,212 |
1,286,075,610 |
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Bank
Details |
Korea
Exchange Bank Dodang
Dong Branch |
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Corporate
Registered No. |
124311-0033988 |
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Business
Registered No. |
130-81-33247 |
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Permit
& Licenses |
03/05/1996
EM 02/23/2000
CE 11/29/2001
EM 04/03/2002
ISO 9001 11/12/2002
ISO 14001 11/14/2002
CE 07/02/2004
ISO 9001 07/02/2004
ISO 14001 07/26/2004
CE 11/29/2005
EM |
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Shareholder
Position |
Kang Shin-Young and his family has 100%
shares. |
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Company
History |
2005. 02 Development HM 400R 2004. 11. 26 Prize “Exporting USD5 million sales” by Korea Ministry of Commerce, Industry and Energy 2004. 10 Development HM 200R and HANA 300 2004. 07. 02 ISO 9001 / Quality System by BM TRADA / UKAS 2004. 07. 02 ISO 14001 / Environmental System by BM TRADA / UKAS 2004. 03. 03 Mr. Shin Young Kang, CEO, Prize “The Steel er Order of Industrial Service Merit” 2004. 01. 29 Singled out as Model of Faithful Taxpayer 2003. 11. 03 Mr. Dae-Hee Kang, President, Prize “The broze er Order of Industrial Service Merit” 2003. 05. 06 Register patent of Blister Package Machine 2003. 09. 19 Certificated of Achievement No Accident for 8 times period (2,540 days) from Korea Occupational Safety and Health Agency 2002. 11. 14 "CE-Mark" for MINISTAR-N5 and MINISTAR-V6 from SGS 2002. 11. 12 ISO14001 / Environmental System from BM TRADA/UKAS 2002. 09. 19 Certificated of Achievement No Accident for 8 times period (2,540 days) from Korea Occupational Safety and Health Agency 2002. 04. 03 ISO9001:2000 / Quality System by BM TRADA / UKAS 2002. 02. 01 Mr. Shin-Young Kang, New CEO, second after Mr. Dae-Hei Kang, inaugurated 2001. 12. Development FS-400 2001. 11. 30 Prize "Exporting USD3 million sales" by Korea Ministry of Commerce, Industry and Energy. 2001. 11. 09 "CE-Mark" for MINISTAR-400 and MINISTAR-G7 from SGSs 2000. 10. Development Ministar-400 2000. 07. Development Ministar-V6/TR for Tropicalized blister 2000. 03. 23 "CE-Mark" for MINISTAR-N8 from SGS 2000. 01. Development Ministar-V9 1999. 11. Development Ministar-V6 1998. 08. Development Minsitar N5 1998. 07. 24 "Hoong-A Research and Development Center" established 1995. 09. Development Cold forming (Alu/Alu) on Ministar-V 1995. 05. 22 ”Hoong-A America Corporation” established, with address at L.A. la Palma 1995. 10. Development FS-500 and G802/Battery Automatic feeding system 1992. 10. Development Ministar-N8 1992. 01. 01 Conversion to “Hoong-A Corporation” as corporation aggregate 1991. 09. Development MinistarG7 1991. 05. Development Ministar-AV 1989. 10. Development Ministar-VV for Toothbrush packaging 1984. 11. Development Ministar-V 1981. 07. 01 Establish Hoong-A Engineering Co. 1970. 12. 01 Establish Hoong-A Trading Corporation |
Products,
Technologies, Services Description
|
Main
Products & Services |
Blister
Packaging Machine Cartoning
Machine End
Packaging Machine Tablet
Capsule Inspector Tablet
Capsule Lifter Petrochemical
raw materials Food
industry machinery |
Organization
Structure
|
Suppliers |
BOUCHERIE CHAIST PERRY
INDUSTRIES |
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Customers |
Aventis Pfizer Colgate-Palmolive Oral-B Energizer Schiffer |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
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Affiliates |
H
& K Corporation |
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Subsidiary |
Hoong
A America Phone:
+1-56-407-9317 Fax:
+1-562-407-9327 |
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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