MIRA
INFORM REPORT
|
Report Date : |
21.06.2007 |
IDENTIFICATION DETAILS
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Name : |
HANIL MANPOWER CO., LTD. |
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Registered Office : |
2nd Fl., Hanil Bldg., 450-1, Dogok 2-dong, Gangnam-gu, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
02/15/1988 |
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Legal Form : |
Company Limited by shares |
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Line of Business : |
Wholesale of Kitchenware, Office Accessories, Interior Products, Accessories,
Cosmetics, Plastic Products, Wood Products, Steel Products, etc. |
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 |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Basic
|
Company
Name |
HANIL MANPOWER CO., LTD. |
|
Registered Address |
450-1, Dogok 2-dong, Gangnam-gu, |
|
Building |
2nd Fl., Hanil Bldg. |
|
Zip Code |
135-855 |
|
Tel |
+82-2-579-0411~4 |
|
Fax |
+82-2-579-0415 |
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E-mail |
sunkinlee@hanilmanpower.com |
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Website |
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Trading Address |
2nd Fl., Hanil Bldg., 450-1, Dogok 2-dong,
Gangnam-gu, |
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Tel |
+82-2-579-0411~4 |
|
Fax |
+82-2-579-0415 |
|
Type |
Export/Import |
|
Industry |
Wholesale of Other Goods n.e.c. |
|
Main Business |
Kitchenware, Office Accessories, Interior Products, Accessories,
Cosmetics, Plastic Products, Wood Products, Steel Products |
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Sub
Business |
Man Power Sourcing, Tourism, Advertisement |
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Established (mm/dd/yyyy) |
02/15/1988 |
The Subject owns
the premises of registered HQ address.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
|
|
Sell |
Furniture(56101500) |
|
Sell |
Domestic appliances(52140000) |
|
Sell |
Prepared and preserved foods(50190000) |
|
Sell |
Shoe accessories(53112000) |
|
Sell |
Domestic pet treatments and accessories and equipment(10111300) |
|
Sell |
Office supplies(44120000) |
|
Sell |
Floriculture and silviculture products(10160000) |
|
Sell |
Domestic disposable kitchenware(52151500) |
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Sell |
Art(60121000) |
CEO’s
|
Name |
Park Jung-Boo |
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Address |
7-19, Sincheon-dong, Songpa-gu, |
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Date of Birth |
12/02/1944 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
|
Capital |
1,200,000,000 KRW |
|
Employees |
130 |
|
Formation |
Co., Ltd by shares |
|
Bank Details |
Woori Bank-Yangjae Branch Korea Exchange Bank Shinhan Bank |
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Corporate Registered No. |
110111-0562333 |
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Business Registered No. |
213-81-18901 |
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Permit & Licenses |
Int’l Trade No.: 932958 |
|
Shareholder Position |
Park Jung-Boo has 49% shares and his family
has 51% shares. |
|
Company History |
2006. Apr.
Established Daiso International, joint ventured between Hanil Manpower
and Daiso ( 2005. Aug.
Established Shenzhen branch office in 2005. Mar.
Received 39th Good Tax Payer Award by the Deputy Prime Minister and
cuncurrently Finance and Economy Minister.
2004. Aug.
Hanil Manpower Co., Ltd has joined in The Federation of Korean
Industries. 2003. Nov.
Named “Most Productive Company” by the Korean Productivity Association
(Distribution/Service Industry) 2003. Jul.
Awarded “Top CEO in 2002. Jul.
Ranked 37th out of 8,418 “Top Korean Companies” by the Chosun Ilbo(a
leading newspaper in 2002. Nov.
Awarded the $100 million Export Trophy and the Iron Industrial Medal
(On the 39th Trade Day) 2002. Dec.
Achieved an export level of US$150 million 2001. Sep.
Asung Industries collaborate with Japanese “Daiso
Corporation" 2000. Mar.
Awarded a Letter of Commendation from the Minister of Finance and
Economy for excellent tax payment. 2000. Nov.
Awarded the $70 million Export Trophy (On the 37th Trade Day) 1999. Feb.
Named Top 10 exporters by the Korea International Trade Association. 1999. May.
Completion of logistics center in Yongin. 1999. Aug.
Awarded the 12th Trader of the month.
Awarded a Letter of Commendation from the 1999. Nov.
Awarded the $30 million Export Trophy. 1997. Nov.
Awarded the $10 million Export Trophy and the Stone Industrial Medal
(On the 34Th Trade Day) Established Chian Branch 1993. Nov.
Awarded Export designation by the Minister of Commerce, Industry and
Energy (On the 30th Export Day) 1992. Jun.
Established Asung Industries as a subsidiary Launched " 1990. Jun.
Opened our first Japanese branch office in 1980. Oct.
Mr. Park Jung Boo established Hanilmanpower |
The subject has exported
over US$ 150 million in 100-yen items in 2002. That’s over 500 million items
exported on a yearly basis, the equivalent to 4 items for every Japanese man,
woman and child in over 2500 “100-yen” or “Daiso” stores throughout
The subject supplies
over 50,000 items including office supplies, stationary, interior supplies,
accessories, cosmetics, plastics, iron and wood products and general
merchandise from over 1800 partners in Korea, China, SE Asia, India, and
Europe.
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Day |
|
President & CEO |
Mr. |
Park Jung-Boo |
Male |
Korean |
07/12/1994 |
|
Director |
Mr. |
Kim Sang-Hoon |
Male |
Korean |
02/15/1994 |
|
Director |
Mr. |
Lee Jong-Duck |
Male |
Korean |
02/15/1997 |
|
Director |
Mr. |
Kim Sung-Chan |
Male |
Korean |
03/29/2006 |
|
Auditor |
M/S. |
Lee Soon-Ok |
Female |
Korean |
10/24/1997 |
Financials
Unit: KRW
|
Year |
Sales |
Assets |
Net income |
|
136,599,954,147 |
64,679,343,944 |
2,867,582,408 |
|
|
2005 |
158,011,837,808 |
65,362,024,832 |
7,812,039,302 |
|
2004 |
205,873,384,461 |
72,543,542,304 |
16,439,594,398 |
|
2003 |
214,200,612,712 |
64,629,109,909 |
13,633,776,588 |
Financial Description
Unit: KRW
|
Authorized Capital |
10,000,000,000 |
|
Paid-Up Capital |
1,200,000,000 |
|
Total Issues Shares |
120,000 |
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Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2006 |
As of 12/31/2005 |
As of 12/31/2004 |
|
Total Assets |
64,679,343,944 |
65,362,024,832 |
72,543,542,304 |
|
Current Assets |
23,300,007,149 |
23,186,657,688 |
32,537,128,747 |
|
-Quick Assets |
22,675,097,227 |
22,755,799,324 |
32,040,378,485 |
|
-Inventories |
624,909,922 |
430,858,364 |
496,750,262 |
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Fixed Assets |
41,379,336,795 |
42,175,367,144 |
40,006,413,557 |
|
-Investment |
8,743,555,339 |
8,809,307,088 |
6,488,846,424 |
|
-Tangibles |
32,635,665,206 |
33,365,866,306 |
33,517,295,883 |
|
-Intangibles |
116,250 |
193,750 |
271,250 |
|
Total Liabilities |
14,166,168,277 |
17,716,431,573 |
32,697,497,388 |
|
Current Liabilities |
9,727,983,277 |
13,508,378,235 |
26,821,147,493 |
|
Fixed Liabilities |
4,438,185,000 |
4,208,053,338 |
5,876,349,895 |
|
Capital Stock |
1,200,000,000 |
1,200,000,000 |
1,200,000,000 |
|
Capital Surplus |
- |
- |
- |
|
Profit Surplus |
49,313,175,667 |
46,445,593,259 |
38,646,044,916 |
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Capital Adjustment |
- |
- |
- |
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Total Equity |
50,513,175,667 |
47,645,593,259 |
39,846,044,916 |
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Liab. & Shareholder’s Equity |
64,679,343,944 |
65,362,024,832 |
72,543,542,304 |
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Current Liabilities |
9,727,983,277 |
13,508,378,235 |
26,821,147,493 |
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Trade Payables |
3,854,656,695 |
6,510,262,312 |
7,110,047,053 |
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Short-Term Borrowings |
3,522,480,000 |
3,439,600,000 |
8,060,350,000 |
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Account Payables |
1,754,500 |
- |
15,000,000 |
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Advance Receipts |
700,000 |
6,000,000 |
250,055,415 |
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Withholdings |
106,643,341 |
95,834,521 |
1,712,119,631 |
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Accrued Expenses |
1,324,819,137 |
1,469,228,570 |
5,000,000,000 |
|
Accrued Income Tax |
457,015,238 |
967,544,870 |
3,599,296,167 |
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Deferred Income Tax Credit |
459,914,366 |
1,019,907,962 |
1,074,279,227 |
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Fixed Liabilities |
4,438,185,000 |
4,208,053,338 |
5,876,349,895 |
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Provision for Severance & Retirement |
698,970,178 |
778,194,863 |
798,402,448 |
|
Leasehold Deposits Received |
3,372,634,042 |
2,604,944,362 |
3,244,700,000 |
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Deferred Income Tax Credit |
366,580,780 |
824,914,113 |
1,833,247,447 |
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Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2006 |
As of 12/31/2005 |
As of 12/31/2004 |
|
Sales |
136,599,954,147 |
158,011,837,808 |
205,873,384,461 |
|
Cost of Sold Goods |
116,855,921,086 |
132,138,411,946 |
164,685,834,599 |
|
Gross Profit |
19,744,033,061 |
25,873,425,862 |
41,187,549,862 |
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Selling & Admin. Expenses |
16,656,929,943 |
17,009,014,723 |
20,293,960,184 |
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Operating Income |
3,087,103,118 |
8,864,411,139 |
20,893,589,678 |
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Non-Operating Income |
3,107,262,432 |
3,182,030,621 |
3,665,924,389 |
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Non-Operating expenses |
2,179,130,593 |
1,496,799,107 |
1,788,809,756 |
|
Ordinary Income |
4,015,234,957 |
10,549,642,653 |
22,770,704,311 |
|
Special Income |
- |
- |
- |
|
Income Before Taxes |
4,015,234,957 |
10,549,642,653 |
22,770,704,311 |
|
Income Taxes Expenses |
1,147,652,549 |
2,737,603,351 |
6,331,109,913 |
|
Net Income |
2,867,582,408 |
7,812,039,302 |
16,439,594,398 |
|
Cash Flows |
|||
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Unit : Korean Won |
As of 12/31/2006 |
As of 12/31/2005 |
As of 12/31/2004 |
|
Cash Flows from Operating |
(-)615,987,724 |
(-)7,010,527,959 |
16,791,024,531 |
|
-Net Income |
2,867,582,408 |
7,812,039,302 |
16,439,594,398 |
|
-Exp. without Cash Outflow |
2,152,012,620 |
1,093,807,192 |
1,428,908,002 |
|
-Revenue without Cash Inflows |
(-)330,375,272 |
(-)821,589,829 |
(-)699,567,376 |
|
-Changes in Asset/ & Liability |
(-)5,305,207,480 |
(-)15,094,784,624 |
(-)377,910,493 |
|
Cash Flows from Investing |
317,327,639 |
6,264,159,622 |
(-)3,576,929,252 |
|
-Cash Inflow from Investing |
7,929,206,466 |
10,680,524,003 |
400,450,824 |
|
-Cash Outflows for Investing |
(-)7,611,878,827 |
(-)4,416,364,381 |
(-)3,977,380,076 |
|
Cash Flows from Financing |
888,139,680 |
(-)9,696,375,638 |
(-)5,993,453,629 |
|
-Cash Inflows from Financing |
31,573,411,912 |
5,991,660,000 |
3,522,000,000 |
|
-Cash Outflows from Financing |
(-)30,685,272,232 |
(-)15,688,035,638 |
(-)9,515,453,629 |
|
Increase/Decrease in Cash |
589,479,595 |
(-)10,442,743,975 |
7,220,641,650 |
|
Cash at the Beginning of Year |
3,980,611,012 |
14,423,354,987 |
7,202,713,337 |
|
Cash at the End of Year |
4,570,090,607 |
3,980,611,012 |
14,423,354,987 |
Products,
Technologies, Services
Description
|
Main Products & Services |
Accessory Bathroom goods Beauty supplies Bedding supplies Bicycle supplies Christmas Clothes Disposables DIY supplies Electricity / electronic Fishing supplies Folk craft goods Food Footwear supplies Gardening supplies General merchandise Hair Handicraft supplies Health Health & Sports Infant supplies Interior decorations Kitchenware Living goods Material MDF Goods Net series Packing materials Party supplies Pet supplies Rain supplies Stationery/ fancy Tool TOYS Travel supplies Wooden ware |
Trade Partners
|
Customers |
Daiso-Japan |
Related Parties
(Subsidiaries, Joint-
Venture &
Affiliates)
|
Affiliates |
Daiso Asung Co., Ltd. Single price general merchandise retailing
store in http://www.daiso.co.kr The subject has 13.16% shares, and Park Jung-Boo
& his family have 52.63% shares of Daiso
Asung Co., Ltd., |
|
Overseas Office |
Shanghai branch office in Shanghai branch office is the base for sourcing
the items from Chinese suppliers and was established in Pudong new area, Location : Pudong xin qu, Tel : +86-21-5839-7450~1 Fax : +86-21-5839-3251 Shenzhen branch office in Shezhen branch office is established in
Shimchun, the biggiest city of Location : Tel : +86-21-8826-5736 Fax : +86-21-8826-5737 Branch office in Since 1990, Tokyo Branch has been an
advanced base of developing Japanese market by the spot servey, market
research and supporting clearance services to act up to customer's various
needs. Location : Tel : +81-3-3818-4344 Fax : +81-3-3818-4647 |
Sales by Region (Activity
& Markets)
The subject imports or buys the cheaper general goods 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%)