MIRA
INFORM REPORT
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Report Date : |
24th
January, 2007 |
IDENTIFICATION DETAILS
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Name : |
NONGHYUP
FEED INCORPORATED |
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Registered Office : |
451,
Seongnae 1-dong, Gangdong-gu, |
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Country : |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
31.08.2002 |
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Legal Form : |
Company
Limited by shares |
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Line of Business : |
Manufacture of Prepared Animal Feeds |
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 |
Nonghyup
Feed Incorporated |
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Address |
451,
Seongnae 1-dong, Gangdong-gu, |
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Building |
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Zip Code |
134-848 |
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Tel |
+82-2-2224-8500 |
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Fax |
+82-2-2224-8519 |
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E-mail |
nhfeed@nonghyupsaryo.com |
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Website |
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Hoengseong
Factory |
70-1,
Mukgye-ri, Hoengseong-eup, Hoengseong-gun, |
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Cheongju
Factory |
140-38, Songjeong-dong, Heungdeok-gu,
Cheongju-si, |
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Gimje
Factory |
219, Heungsa-dong, Gimje-si, |
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Naju
Factory |
San 30, Okdang-ri, Munpyeong-myeon,
Naju-si, |
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Andong
Factory |
829, Icheon-ri, Namseon-myeon,
Andong-si, |
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Haman
Factory |
1475-19, Yunoe-ri, Beopsu-myeon,
Haman-gun, |
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466-11, |
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Busan Bio |
1105-1, Munhyeon 4(sa)-dong, Nam-gu, |
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Type |
Import/Export |
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Industry |
Manufacture of Prepared Animal Feeds |
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Main Business |
Feeds |
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Sub Business |
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Established |
08/31/2002 |
Detailed Products
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Activity |
Detailed
Products (UNSPSC) |
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Sell |
Feeds for Animals |
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Sell |
Feeds Distribution |
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Sell |
Feeds Warehousing |
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Sell |
Information providing for Animal Feeds |
Others
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Name |
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Address |
884-21, Bangbae-dong, Seocho-gu, Seoul
137-060 Korea |
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Date of Birth |
09/25/1944 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
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Capital |
56,768,010,000
KRW |
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Employees |
663 |
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Formation |
Co., Ltd by shares |
The subject purchases the animal feeds
in bigger volume for the association members and distributes each through the
local factories.
Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Day |
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President & CEO |
Mr. |
|
Male |
Korean |
08/31/2002 |
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Director |
Mr. |
Song Suck-Woo |
Male |
Korean |
08/31/2002 |
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Director |
Mr. |
Yoo In-Jong |
Male |
Korean |
08/31/2002 |
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Director |
Mr. |
Im Young-Bong |
Male |
Korean |
08/31/2002 |
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Director |
Mr. |
Chon Sang-Doo |
Male |
Korean |
08/31/2002 |
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Director |
Mr. |
Chon Joon-Hwa |
Male |
Korean |
08/31/2002 |
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Director |
Mr. |
Sohn Kwang-Ik |
Male |
Korean |
08/31/2002 |
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Director |
Mr. |
Yoo Moon-Sik |
Male |
Korean |
08/31/2002 |
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Director |
Mr. |
Kim Hyun-Chung |
Male |
Korean |
08/31/2002 |
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Director |
Mr. |
Park Yol |
Male |
Korean |
08/31/2002 |
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Director |
Mr. |
Won Yoo-Suck |
Male |
Korean |
02/06/2005 |
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Director |
Mr. |
Jeong Dong-Chan |
Male |
Korean |
02/06/2005 |
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Director |
Mr. |
Song Jin-Hwan |
Male |
Korean |
09/02/2005 |
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Director |
Mr. |
Ko Young-Kon |
Male |
Korean |
02/03/2006 |
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Director |
Mr. |
Jeong Yon-Kyu |
Male |
Korean |
04/01/2006 |
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Director |
Mr. |
Choi Sam-Ho |
Male |
Korean |
04/01/2006 |
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Director |
Mr. |
Ko Myung-Jae |
Male |
Korean |
04/01/2006 |
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Director |
Mr. |
Ko Dong-Soo |
Male |
Korean |
90/01/2006 |
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Director |
Mr. |
Kim Nae-Soo |
Male |
Korean |
09/01/2006 |
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Director |
Mr. |
Kim Byung-Yook |
Male |
Korean |
09/01/2006 |
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Auditor |
Mr. |
Lee Jae-Woo |
Male |
Korean |
02/17/2005 |
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Auditor |
Mr. |
Lee Eui-Kook |
Male |
Korean |
02/07/2002 |
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Auditor |
Mr. |
Yoon Sang-Ik |
Male |
Korean |
09/12/2006 |
Financials
Unit: KRW
|
Year |
Sales |
Assets |
Net
income |
|
549,248,905,853 |
328,258,248,454 |
9,426,918,909 |
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2004 |
590,630,854,231 |
303,937,933,739 |
12,090,309,827 |
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2003 |
470,827,911,114 |
367,306,113,080 |
8,497,800,229 |
Financial Description
Unit: KRW
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Authorized Capital |
227,072,040,000 |
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Paid-Up Capital |
56,768,010,000 |
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Total Issues Shares |
11,353,602 |
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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 |
328,258,248,454 |
303,937,933,739 |
367,306,113,080 |
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Current
Assets |
204,326,048,103 |
178,349,697,240 |
241,088,768,428 |
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-Quick Assets |
140,991,566,063 |
136,784,774,750 |
195,375,024,752 |
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-Inventories |
63,334,482,040 |
41,564,922,490 |
45,713,743,676 |
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Fixed Assets |
123,932,200,351 |
125,588,236,499 |
126,217,344,652 |
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-Investment |
5,826,919,893 |
6,487,485,492 |
5,312,620,290 |
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-Tangibles |
117,032,563,574 |
118,294,520,632 |
120,058,837,742 |
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-Intangibles |
1,072,716,884 |
806,230,375 |
845,886,620 |
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Total
Liabilities |
244,491,155,096 |
225,680,766,600 |
298,300,855,268 |
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Current
Liabilities |
235,699,013,182 |
215,213,665,663 |
287,271,231,155 |
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Fixed
Liabilities |
8,792,141,914 |
10,467,100,937 |
11,029,624,113 |
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Capital
Stock |
56,768,010,000 |
56,768,010,000 |
56,768,010,000 |
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Capital
Surplus |
- |
- |
- |
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Profit
Surplus |
26,999,083,358 |
21,489,157,139 |
12,237,247,812 |
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Capital
Adjustment |
- |
- |
- |
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Total
Equity |
83,767,093,358 |
78,257,167,139 |
69,005,257,812 |
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Liab.
& Shareholder’s Equity |
328,258,248,454 |
303,937,933,739 |
367,306,113,080 |
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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 |
549,248,905,853 |
590,630,854,231 |
470,827,911,114 |
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Cost
of Sold Goods |
498,936,475,387 |
550,174,627,166 |
428,323,972,790 |
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Gross
Profit |
50,312,430,466 |
40,456,227,065 |
42,503,938,324 |
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Selling & Admin. Expenses |
39,334,684,777 |
33,584,223,610 |
30,230,863,125 |
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Operating
Income |
10,977,745,689 |
6,872,003,455 |
12,273,075,199 |
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Non-Operating
Income |
8,798,906,163 |
18,535,325,384 |
8,594,600,840 |
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Non-Operating
expenses |
6,966,733,867 |
7,794,306,046 |
9,108,084,424 |
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Ordinary
Income |
12,809,917,985 |
17,613,022,793 |
11,759,591,615 |
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Special
Income |
- |
- |
-20,016,972 |
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Income
Before Taxes |
12,809,917,985 |
17,613,022,793 |
11,739,574,643 |
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Income
Taxes Expenses |
3,382,999,076 |
5,522,712,966 |
3,241,774,414 |
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Net
Income |
9,426,918,909 |
12,090,309,827 |
8,497,800,229 |
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Bank
Details |
Nonghyup |
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Corporate
Registered No. |
110111-2600313 |
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Business
Registered No. |
212-81-59971 |
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Permit
& Licenses |
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Shareholder
Position |
NongHyup (National Agricultural
Cooperative Federation) has 100% shares. |
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Company
History |
08/31/2002 Established |
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Organization Structure
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Suppliers |
CJ Corporation |
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Customers |
Nong Hyup Nonghyp Yutong Nong Hyup Trading Co., Ltd. |
Related Parties (Subsidiaries,
Joint-Venture & Affiliates)
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Affiliates |
Nong Hyup Nonghyp Yutong Nong Hyup Trading Co., Ltd. Nongmin News Paper Nong Hyup Logistics Huchems Nong Hyup Koryo Ginseng |
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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