MIRA
INFORM REPORT
|
Report Date : |
13.06.2007 |
IDENTIFICATION DETAILS
|
Name : |
SHINHAN INDUSTRIAL CO., LTD |
|
|
|
|
Registered Office : |
12B-23L, 622-6, Choji-dong, Danwon-gu, Ansan-si, Gyeonggi-Do - 425-866 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
11/23/1993 |
|
|
|
|
Legal Form : |
Company Limited by shares |
|
|
|
|
Line of Business : |
Dyeing and Finishing of Woven and Knitted Fabrics |
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 |
SHINHAN INDUSTRIAL CO., LTD |
|
Registered Address / Factory |
622-6, Choji-dong, Danwon-gu, Ansan-si, |
|
Building |
12B-23L |
|
Zip Code |
425-866 |
|
Tel |
+82-31-493-3700~1 |
|
Fax |
+82-31-492-8425 |
|
E-mail |
info@shinhanind.co.kr;jsw@shinhanind.co.kr |
|
Website |
|
|
Trading Address |
622-6, Choji-dong, Danwon-gu, Ansan-si, |
|
Tel |
+82-31-493-3700~1 |
|
Fax |
+82-31-492-8425 |
|
Type |
Export/Import |
|
Industry |
Dyeing and Finishing of Woven and Knitted Fabrics |
|
Main Business |
Fabrics Dyeing |
|
Established (mm/dd/yyyy) |
11/23/1993 |
The Subject owns the
premises of registered address/factory.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Dyeing or printing or finishing
services(73141706) |
|
Sell |
Fur dressing or dyeing
services |
|
Buy |
Synthetic fabrics(11161800) |
CEO’s
|
Name |
Yoon Jung-Kyu |
|
Address |
1642-14, Seocho-dong, Seocho-gu, |
|
Date of Birth |
02/04/1955 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital |
700,000,000 KRW |
|||||||||||||||
|
Employees |
120 |
|||||||||||||||
|
Formation |
Co., Ltd by shares |
|||||||||||||||
|
Bank Details |
Chohung Bank-Toikyero Branch Industrial Bank of Kookmin Bank |
|||||||||||||||
|
Corporate Registered No. |
135011-0040407 |
|||||||||||||||
|
Business Registered No. |
134-81-18613 |
|||||||||||||||
|
Permit & Licenses |
N/A |
|||||||||||||||
|
Shareholder Position |
|
|||||||||||||||
|
Company History |
11/23/1993
Established |
The Subject
provides dyeing works and finishing works of woven & knitted fabrics, and
mainly manufactures in
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Day |
|
President & CEO |
Mr. |
Yoon Jung-Kyu |
Male |
Korean |
06/23/2001 |
|
Director |
Mr. |
Yoon Eun-Soo |
Male |
Korean |
06/23/2001 |
|
Director |
Mr. |
Han Kwan-Seob |
Male |
Korean |
06/23/2001 |
|
Auditor |
Mr. |
Koo Ja-Hong |
Male |
Korean |
06/23/2004 |
Financials
Unit: KRW
|
Year |
Sales |
Assets |
Net income |
|
15,613,802,323 |
18,649,371,830 |
(-)2,319,941,999 |
|
|
2005 |
23,928,794,255 |
20,302,960,941 |
(-)1,422,493,649 |
|
2004 |
42,009,289,392 |
23,588,165,292 |
1,484,619,252 |
|
2003 |
41,847,641,023 |
22,241,642,873 |
1,248,543,884 |
Financial Description
Unit: KRW
|
Authorized Capital |
2,800,000,000 |
|
Paid-Up Capital |
700,000,000 |
|
Total Issues Shares |
140,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2006 |
As of 12/31/2005 |
As of 12/31/2004 |
|
Total Assets |
18,649,371,830 |
20,302,960,941 |
23,588,165,292 |
|
Current Assets |
7,689,775,589 |
9,941,546,204 |
9,482,363,271 |
|
-Quick Assets |
5,224,359,019 |
7,742,778,195 |
5,147,465,853 |
|
-Inventories |
2,465,416,570 |
2,198,768,009 |
4,334,897,418 |
|
Fixed Assets |
10,959,596,241 |
10,361,414,737 |
14,105,802,021 |
|
-Investment |
1,681,623,465 |
1,698,584,185 |
1,888,119,643 |
|
-Tangibles |
9,277,972,776 |
8,662,830,552 |
12,217,682,378 |
|
-Intangibles |
- |
- |
- |
|
Total Liabilities |
9,056,553,145 |
8,390,200,257 |
9,951,910,959 |
|
Current Liabilities |
5,636,508,388 |
4,333,017,221 |
4,801,228,686 |
|
Fixed Liabilities |
3,420,044,757 |
4,057,183,036 |
5,150,682,273 |
|
Capital Stock |
700,000,000 |
700,000,000 |
700,000,000 |
|
Capital Surplus |
- |
- |
- |
|
Profit Surplus |
8,892,818,685 |
11,212,760,684 |
12,936,254,333 |
|
Capital Adjustment |
- |
- |
- |
|
Total Equity |
9,592,818,685 |
11,912,760,684 |
13,636,254,333 |
|
Liab. & Shareholder’s Equity |
18,649,371,830 |
20,302,960,941 |
23,588,165,292 |
|
Current Liabilities |
5,636,508,388 |
4,333,017,221 |
4,801,228,686 |
|
Trade payables |
1,408,633,706 |
682,024,536 |
2,178,757,498 |
|
Short-Term Borrowings |
2,013,200,000 |
1,047,200,000 |
70,000,000 |
|
Account Payables |
129,437,536 |
288,006,432 |
138,022,593 |
|
Advance Receipts |
38,279,813 |
9,492,011 |
6,844,669 |
|
Unearned Income |
34,669,635 |
98,965,911 |
149,444,800 |
|
Withholdings |
31,990,590 |
116,233,210 |
33,049,170 |
|
Accrued Expenses |
590,072,602 |
479,317,701 |
620,239,795 |
|
Accrued Income Tax |
|
|
154,133,841 |
|
Current Portion of Long-Term Debts |
1,306,190,326 |
1,527,743,240 |
1,450,736,320 |
|
Accrued Dividends |
84,034,180 |
84,034,180 |
- |
|
Fixed Liabilities |
3,420,044,757 |
4,057,183,036 |
5,150,682,273 |
|
Long-Term Borrowings |
1,266,613,790 |
1,303,773,630 |
1,494,098,400 |
|
Foreign Currebncy Long-Term Borrowings |
925,044,960 |
1,653,900,332 |
2,590,364,426 |
|
Provision for Severance & Retirement |
1,228,386,007 |
1,099,509,074 |
1,066,219,447 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2006 |
As of 12/31/2005 |
As of 12/31/2004 |
|
Sales |
15,613,802,323 |
23,928,794,255 |
42,009,289,392 |
|
Cost of Sold Goods |
15,095,469,527 |
23,018,504,387 |
35,416,354,139 |
|
Gross Profit |
518,332,796 |
910,289,868 |
6,592,935,253 |
|
Selling & Admin. Expenses |
2,787,086,645 |
3,780,293,352 |
4,471,320,780 |
|
Operating Income |
(-)2,268,753,849 |
(-)2,870,003,484 |
2,121,614,473 |
|
Non-Operating Income |
527,274,056 |
2,485,803,475 |
965,776,952 |
|
Non-Operating expenses |
578,462,206 |
1,038,293,640 |
1,297,731,404 |
|
Ordinary Income |
(-)2,319,941,999 |
(-)1,422,493,649 |
1,789,660,021 |
|
Special Income |
- |
- |
- |
|
Income Before Taxes |
(-)2,319,941,999 |
(-)1,422,493,649 |
1,789,660,021 |
|
Income Taxes Expenses |
- |
- |
305,040,769 |
|
Net Income |
(-)2,319,941,999 |
(-)1,422,493,649 |
1,484,619,252 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2006 |
As of 12/31/2005 |
As of 12/31/2004 |
|
Cash Flows from Operating |
(-)963,225,049 |
(-)1,754,227,602 |
2,089,629,672 |
|
-Net Income |
(-)2,319,941,999 |
(-)1,422,493,649 |
1,484,619,252 |
|
-Exp. without Cash Outflow |
1,942,202,664 |
2,081,919,663 |
2,862,496,876 |
|
-Revenue without Cash Inflows |
(-)279,878,784 |
(-)1,994,491,928 |
(-)516,767,227 |
|
-Changes in Asset/ & Liability |
(-)305,606,930 |
(-)419,161,688 |
(-)1,740,719,229 |
|
Cash Flows from Investing |
(-)115,751,790 |
2,036,268,677 |
(-)2,119,260,913 |
|
-Cash Inflow from Investing |
3,465,064,097 |
5,250,273,474 |
924,257,672 |
|
-Cash Outflows for Investing |
(-)3,580,815,887 |
(-)3,214,004,797 |
(-)3,043,518,585 |
|
Cash Flows from Financing |
118,596,920 |
(-)31,802,082 |
(-)34,033,682 |
|
-Cash Inflows from Financing |
4,181,000,000 |
3,671,900,058 |
1,532,049,400 |
|
-Cash Outflows from Financing |
(-)4,062,403,080 |
(-)3,703,702,140 |
(-)1,566,083,082 |
|
Increase/Decrease in Cash |
(-)960,379,919 |
250,238,993 |
(-)63,664,923 |
|
Cash at the Beginning of Year |
1,316,274,414 |
1,066,035,421 |
1,129,700,344 |
|
Cash at the End of Year |
355,894,495 |
1,316,274,414 |
1,066,035,421 |
Products, Technologies,
Services
Description
|
Main Products & Services |
Dyeing and Finishing of Woven, Knitted Fabrics and functional textiles
& sportswear |
|
Production Capacity |
800,000~1,000,000 YD/Month |
Related Parties
(Subsidiaries, Joint-
Venture & Affiliates)
|
Affiliates |
YOUNG TEXTILES CO., LTD. YOUNGSHIN TRADING CO., LTD. YOUNGSHIN IFG CO., LTD. S.Y.VINA |
|
Overseas Office |
Oststr. 168, 40210 TEL +49-211-356-081 FAX +49-211-356-083 E-Mail: youngtex.eu@t-online.de |
|
|
|
Sales by Region (Activity
& Markets)
The Subject imports from
Court Action
No.
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 |
|
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%)