MIRA
INFORM REPORT
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Report Date : |
05.06.2007 |
IDENTIFICATION DETAILS
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Name : |
HIPRECYL CO., LTD. |
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Registered Office : |
191-1, Danwol-dong, Icheon-si, Gyeonggi-do -
467-120 |
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Country : |
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Financials (as on) : |
31.12.2004 |
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Date of Incorporation : |
04/19/2006 |
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Legal Form : |
Company Limited by shares |
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Line of Business : |
Manufactures of CNG Cylinder, High Pressure
Cylinder and Accumulators |
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 |
HIPRECYL CO., LTD. |
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Registered Address |
191-1, Danwol-dong,
Icheon-si, |
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Zip Code |
467-120 |
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Tel |
+82-31-633-3615 |
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Fax |
+82-31-633-5894 |
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E-mail |
stsant@naver.com |
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Website |
www.hiprecyl.com |
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Trading Address |
191-1, Danwol-dong,
Icheon-si, |
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Tel |
+82-31-633-3615 |
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Fax |
+82-31-633-5894 |
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Type |
Export |
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Industry |
Manufactures of CNG Cylinder, High Pressure
Cylinder and Accumulators |
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Established (mm/dd/yyyy) |
04/19/2006 |
Detailed Products
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Activity |
Detailed Products (UNSPSC) |
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Sell |
CNG Cylinder |
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Sell |
High Pressure Cylinder |
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Sell |
Accumulators |
CEO’s
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Name |
Kim Sung-Kun |
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Address |
58-22, Jamwon-dong, Seocho-gu, |
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Date of Birth |
12/23/1957 |
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Title |
President & CEO |
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Sex |
Mlae |
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Nationality |
Korean |
Mr. Kim Sung-Kun is
the president of ASTONE TECHNOLOGY CO., LTD(110111-1948475) and KS CITY CO., LTD (110111-3442657) as well. And he has been
worked in the Korea Central Government (The Ministry of Information &
Telecommunication, and the Office of Prime Minister) as a Public official
Servant.
Profiles
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Capital |
600,000,000 KRW |
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Employees |
37 |
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Formation |
Co., Ltd by shares |
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Bank Details |
Chohung Bank- Sungnam
Corporate Branch |
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Corporate Registered No. |
134411-0017665 has changed to
110111-3442657. |
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Business Registered No. |
126-81-52997 has changed to 214-87-***** (Full number is not
available.) |
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Permit & Licenses |
N/A |
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Shareholder Position |
N/A |
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Company History |
05/10/2001 Established as 04/24/2006 KS CITY CO., LTD.(CEO: Kim Sung-Kun)
has made a successful bid of the Subject Company in the 2nd
Bidding of Court. 06/08/2006
Changed company name to the present name from KOREA HIGH PRESURE CYLINDERS
CO., LTD. 06/26/2006 The Subject has been prohibited
the using of KS Mark in their High Pressure Containers until 07/25/2006(1
Month) with NEO CYLINDER CO., LTD which has prohibited until 09/25/2006(3
Months) from the Authority. 07/24/2006 Increased the authorized shares
numbers to 40,000,000 shares from 400,000 shares. 08/02/2006 Increased capital to
600,000,000 KRW from 50,000,000 KRW |
It is known that
the subject has been suffered from the financial struggles, and KS CITY CO.,
LTD.(CEO: Kim Sung-Kun) took the subject company at the 2nd Bidding held
by the Court. Mr. Kim Sung-Kun has changed company name to the present name and
has been focused on the overseas sales to the Middle Eastern Countries, and now
it is expanding the sales to the South-East Asian Countries including
Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Day |
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President & CEO |
Mr. |
Kim Sung-Kun |
Male |
Korean |
04/19/2006 |
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Executive Director |
Mr. |
Yoo Sung-Soo |
Male |
Korean |
07/24/2006 |
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Director |
Mr. |
Song Young-Eui |
Male |
Korean |
04/19/2006 |
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Auditor |
Mr. |
Moon Byung-Dae |
Male |
Korean |
04/19/2006 |
Financials
Unit: KRW
|
Year |
Sales |
Assets |
Net income |
|
2004 |
6,065,000,000 |
6,551,000,000 |
244,000,000 |
|
2003 |
6,725,000,000 |
5,741,000,000 |
192,000,000 |
|
2002 |
6,215,000,000 |
5,796,000,000 |
94,000,000 |
The latest financial is not available.
Financial Description
Unit: KRW
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Authorized Capital |
20,000,000,000 |
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Paid-Up Capital |
600,000,000 |
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Total Issues Shares |
1,200,000 |
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Balance Sheet |
|||
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Unit : Million Korean Won |
As of 12/31/2004 |
As of 12/31/2003 |
As of 12/31/2002 |
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Total Assets |
6,551 |
5,741 |
5,796 |
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Current Assets |
2,055 |
1,494 |
1,672 |
|
-Quick Assets |
1,181 |
832 |
1,097 |
|
-Inventories |
874 |
662 |
575 |
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Fixed Assets |
4,496 |
4,247 |
4,124 |
|
-Investment |
1,520 |
1,206 |
1,206 |
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-Tangibles |
2,976 |
3,041 |
2,918 |
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-Intangibles |
- |
- |
- |
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Total Liabilities |
4,542 |
4,176 |
4,422 |
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Current Liabilities |
2,474 |
2,681 |
2,713 |
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Fixed Liabilities |
2,068 |
1,495 |
1,709 |
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Capital Stock |
1,500 |
1,300 |
1,300 |
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Capital Surplus |
- |
- |
- |
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Profit Surplus |
509 |
265 |
74 |
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Capital Adjustment |
- |
- |
- |
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Total Equity |
2,009 |
1,565 |
1,374 |
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Liab. & Shareholder’s Equity |
6,551 |
5,741 |
5,796 |
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Income Statement |
|||
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Unit : Million Korean Won |
As of 12/31/2004 |
As of 12/31/2003 |
As of 12/31/2002 |
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Sales |
6,065 |
6,725 |
6,215 |
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Cost of Sold Goods |
4,889 |
5,656 |
5,519 |
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Gross Profit |
1,176 |
1,070 |
696 |
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Selling & Admin. Expenses |
743 |
699 |
574 |
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Operating Income |
433 |
371 |
122 |
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Non-Operating Income |
114 |
122 |
188 |
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Non-Operating expenses |
289 |
269 |
196 |
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Ordinary Income |
258 |
224 |
114 |
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Special Income |
- |
- |
- |
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Income Before Taxes |
258 |
224 |
114 |
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Income Taxes Expenses |
14 |
32 |
20 |
|
Net Income |
244 |
192 |
94 |
Products,
Technologies, Services
Description
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Main Products & Services |
CNG Cylinder, High Pressure Cylinder,
Accumulator Trade Name: HPS |
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Annual Production Capacity |
CNG Cylinder (250,000 EA) High Pressure Cylinder (100,000 EA) Accumulator(30,000 EA) |
Trade Partners
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Customers |
UNIFICATION-IRAN SAIPA-IRAN JAMYARD-IRAN KODRO-IRAN |
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Competitors |
NK CO., LTD. FINETECH CO., LTD. NEO CYLINDER CO., LTD. |
Related Parties
(Subsidiaries, Joint-
Venture &
Affiliates)
|
Affiliates |
ASTONE TECHNOLOGY
CO., LTD(110111-1948475) KS CITY CO., LTD (110111-3442657) |
Sales by Region (Activity
& Markets)
The Subject exports the products to the Middle East countries including
Court Action
Not Available.
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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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%)