MIRA
INFORM REPORT
|
Report Date : |
15.01.2007 |
IDENTIFICATION DETAILS
|
Name : |
OCI
CORPORATION |
|
|
|
|
Registered Office : |
3rd
Fl., Oriental Chemical Industries Bldg., 50, Sogong-dong, Jung-gu, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2005 |
|
|
|
|
Date of Incorporation : |
09/03/1994 |
|
|
|
|
Legal Form : |
Company Limited by shares |
|
|
|
|
Line of Business : |
Wholesale
of Industrial Basic Chemicals |
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 : |
Satisfactory
|
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
Basic
|
Company Name |
OCI
CORPORATION |
|
Address |
3rd Fl., Oriental
Chemical Industries Bldg., 50, Sogong-dong, Jung-gu, |
|
Zip Code |
100-718 |
|
Tel |
+82-2-3709-9900 |
|
Fax |
+82-2-776-3553 |
|
E-mail |
davidko@ocicorp.co.kr;bjchung@ocicorp.co.kr |
|
Website |
www.ocicorp.co.kr |
|
Busan
Office |
Rm. 1305, Busan
Trade Center Bdlg, 87-7, Jungangdong 4-ga, Jung-gu, |
|
Tel |
+82-51-464-6032 |
|
Fax |
+82-51-462-6983 |
|
Type |
Export/Import |
|
Industry |
Wholesale
of Industrial Basic Chemicals |
|
Main
Business |
Poly
Vinyl Alcohol, Toluene Diisocynate |
|
Established |
09/03/1994 |
Detailed Products
|
Activity |
Detailed
Products (UNSPSC) |
|
Sell |
Aromatic
or heterocyclic compounds(12352005) |
|
Sell |
Polyvinyl
alcohol(13111042) |
|
Sell |
Chemicals
including Bio Chemicals and Gas Materials(12000000) |
|
Sell |
Chemistry
reagents or solutions(41116105) |
|
Sell |
Polyvinyl
alcohol(13111042) |
|
Sell |
Inorganic
metal salts(12352302) |
|
Sell |
Borate(11101512) |
|
Sell |
Chloroprene
CR(13101706) |
|
Sell |
Latex
rubber(13101501) |
|
Sell |
Ethers
or its substitutes(12352112) |
Others
|
Name |
Lee
Hwa-Young |
|
Address |
330-222, Seongbuk-dong, Seongbuk-gu, Seoul 136-020
Korea |
|
Date of Birth |
05/16/1951 |
|
Title |
Co-President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital |
2,400,000,000 KRW |
|
Employees |
72 |
|
Formation |
Co., Ltd by shares, A company of Dong Yang
Chemical Group |
The subject deals with the companies in
Management
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Day |
|
Co-President & CEO |
Mr. |
Lee Hwa-Young |
Male |
Korean |
09/02/1997 |
|
Co-President & CEO |
Mr. |
Cheong
Kwang-Hee |
Male |
Korean |
08/01/2005 |
|
Director |
Mr. |
Paik
Woo-Suck |
Male |
Korean |
09/02/1997 |
|
Director |
Mr. |
Kim
Kyung-Ho |
Male |
Korean |
03/26/2004 |
|
Auditor |
Mr. |
Kang
Byung-Ho |
Male |
Korean |
03/26/2004 |
Financials
Unit: KRW
|
Year |
Sales |
Assets |
Net income |
|
2005 |
463,900,837,742 |
99,518,074,117 |
1,487,384,984 |
|
2004 |
472,857,956,962 |
81,717,258,827 |
3,862,804,412 |
Financial Description
Unit: KRW
|
Authorized
Capital |
6,400,000,000 |
||
|
Paid-Up
Capital |
2,400,000,000 |
||
|
Total Issues Shares |
480,000 |
||
|
|
|||
|
Balance Sheet Unit : Korean Won |
|||
|
|
As of
12/31/2005 |
As of
12/31/2004 |
As of 12/31/2003 |
|
Total Assets |
99,518,074,117 |
81,717,258,827 |
|
|
Current Assets |
95,757,287,062 |
76,699,408,248 |
|
|
-Quick
Assets |
76,951,107,280 |
65,297,886,006 |
|
|
-Inventories |
18,806,179,782 |
11,401,522,242 |
|
|
Fixed
Assets |
3,760,787,055 |
5,017,850,579 |
|
|
-Investment |
3,368,903,472 |
4,551,371,455 |
|
|
-Tangibles |
305,718,016 |
317,570,457 |
|
|
-Intangibles |
86,165,567 |
148,908,667 |
|
|
Total Liabilities |
81,797,269,846 |
64,676,594,655 |
|
|
Current Liabilities |
80,824,791,668 |
64,134,133,510 |
|
|
Fixed Liabilities |
972,478,178 |
542,461,145 |
|
|
Capital Stock |
2,400,000,000 |
2,400,000,000 |
|
|
Capital Surplus |
- |
- |
|
|
Profit Surplus |
16,228,939,084 |
15,221,554,100 |
|
|
Capital Adjustment |
(-)908,134,813 |
(-)580,889,928 |
|
|
Total Equity |
17,720,804,271 |
17,040,664,172 |
|
|
Liab. & Shareholder’s Equity |
99,518,074,117 |
81,717,258,827 |
|
|
Income Statement
Unit : Korean Won |
|||
|
|
As of
12/31/2005 |
As of
12/31/2004 |
As of
12/31/2003 |
|
Sales |
463,900,837,742 |
472,857,956,962 |
|
|
Cost of Sold Goods |
441,882,985,115 |
445,053,715,617 |
|
|
Gross Profit |
22,017,852,627 |
27,804,241,345 |
|
|
Selling & Admin. Expenses |
19,248,829,469 |
22,879,757,486 |
|
|
Operating Income |
2,769,023,158 |
4,924,483,859 |
|
|
Non-Operating Income |
7,381,190,704 |
8,460,318,837 |
|
|
Non-Operating expenses |
7,916,307,770 |
7,812,669,050 |
|
|
Ordinary Income |
2,233,906,092 |
5,572,133,646 |
|
|
Special Income |
- |
- |
|
|
Income Before Taxes |
2,233,906,092 |
5,572,133,646 |
|
|
Income Taxes Expenses |
746,521,108 |
1,709,329,234 |
|
|
Net Income |
1,487,384,984 |
3,862,804,412 |
|
|
Bank Details |
Chohung Bank Sokong Dong Branch |
|
Corporate
Registered No. |
110111-1072159 |
|
Business
Registered No. |
104-81-29104 |
|
Permit &
Licenses |
Int’l Trade No.: 11185222 |
|
Shareholder
Position |
|
|
Company
History |
09/02/1994 Established as Chemtech Co.,
Ltd. 02/19/1997 Changed company name to the
present name after acquiring Int’l Business from Dong Yang Chemical
Industrial Co., Ltd. 12/24/2004 Increased capital to
2,400,000,000 KRW from 200,000,000 KRW |
Organization
Structure
|
Customers |
Oriental Chemical Industries UNID Bulls One Samkwang Glass Yi Yang Chemicals DC Pero OCI( OCI International Inc. - OCI(Shaghai) International Trading Ltd. - |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
Oriental Chemical Industries UNID Bulls One Samkwang Glass OCI I&T Yi Yang Chemicals DC Pero |
|
Overseas Office |
akaretler, spor cad bjk plaza no. 92 a-blok d;58
besiktas Phone: +90-212-236-9081 FAX +90-212-236-9085 E-Mail: ociistanbul@atlas.net.tr |
|
Subsidiary |
OCI( OCI International Inc. - OCI(Shaghai) International Trading Ltd. - |
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 |
|