MIRA
INFORM REPORT
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Report Date : |
26.06.2007 |
IDENTIFICATION DETAILS
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Name : |
Hoong A Corporation |
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Registered Office : |
83-4, Dodang-dong, Wonmi-gu, Bucheon-si, Gyeonggi-Do
420-803 |
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Country : |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
12/17/1991 |
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Legal Form : |
Company
Limited by shares |
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Line of Business : |
Manufacture of Packing Machinery and Containers Cleaning
Machinery |
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 |
Hoong A Corporation |
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Address |
83-4, Dodang-dong, Wonmi-gu, Bucheon-si, |
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Zip Code |
420-803 |
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Tel |
+82-32-675-1511 |
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Fax |
+82-32-675-1512 |
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E-mail |
sales@hoonga.com |
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Website |
www.hoonga.com |
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Type |
Export/Import |
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Industry |
Manufacture of Packing Machinery and Containers Cleaning
Machinery |
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Main Business |
Blister Packaging Systems, Cartoning Machine, Inspector |
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Established |
12/17/1991 |
Detailed Products
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Packaging machinery(23152900) |
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Sell |
Cartoning machinery(24102107) |
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Sell |
Sifters(23151608) |
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Sell |
Packaging machinery(23152900) |
Others
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Name |
Kang Shin-Young |
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Address |
329, Sinjeong-dong,
Yangcheon-gu, Seoul 158-070 Korea |
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Date of Birth |
04/17/1958 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
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Capital |
600,000,000 KRW |
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Employees |
67 |
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Formation |
Co., Ltd by shares |
The subject
deals with the companies in
Management
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Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Day |
|
President
& CEO |
Mr. |
Kang Shin-Young |
Male |
Korean |
03/31/2003 |
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Director |
Mr. |
Kang Dae-Hee |
Male |
Korean |
03/27/2000 |
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Director |
Mr. |
Kang Shin-Young |
Male |
Korean |
03/27/2000 |
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Director |
M/S. |
Kang Shin-Won |
Female |
Korean |
03/27/2000 |
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Director |
M/S. |
Kang Shin-Sook |
Female |
Korean |
03/27/2000 |
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Auditor |
M/S. |
Jeong Tae-Yong |
Female |
Korean |
03/27/2000 |
Financials
Unit:
KRW
|
Year |
Sales |
Assets |
Net income |
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11,336,570,931 |
10,695,174,582 |
947,730,212 |
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2004 |
12,420,404,604 |
9,527,586,853 |
1,286,075,610 |
Financial Description
Unit: KRW
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Authorized
Capital |
2,400,000,000 |
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Paid-Up
Capital |
600,000,000 |
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Total Issues
Shares |
60,000 |
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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 |
10,695,174,582 |
9,527,586,853 |
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Current Assets |
7,549,711,915 |
6,143,786,960 |
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-Quick Assets |
3,931,446,772 |
3,674,650,948 |
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-Inventories |
3,618,265,143 |
2,469,136,012 |
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Fixed Assets |
3,145,462,667 |
3,383,799,893 |
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-Investment |
560,257,492 |
600,295,286 |
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-Tangibles |
2,420,586,502 |
2,644,716,229 |
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-Intangibles |
164,618,673 |
138,788,378 |
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Total Liabilities |
3,924,597,606 |
3,574,740,089 |
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Current
Liabilities |
2,655,302,253 |
2,225,943,948 |
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Fixed
Liabilities |
1,269,295,353 |
1,348,796,141 |
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Capital Stock |
600,000,000 |
600,000,000 |
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Capital
Surplus |
- |
- |
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Profit Surplus |
6,170,576,976 |
5,352,846,764 |
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Capital
Adjustment |
- |
- |
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Total Equity |
6,770,576,976 |
5,952,846,764 |
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Liab. &
Shareholder’s Equity |
10,695,174,582 |
9,527,586,853 |
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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 |
11,336,570,931 |
12,420,404,604 |
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Cost of Sold
Goods |
7,229,524,340 |
7,867,132,200 |
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Gross Profit |
4,107,046,591 |
4,553,272,404 |
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Selling & Admin.
Expenses |
2,898,919,967 |
2,719,490,655 |
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Operating
Income |
1,208,126,624 |
1,833,781,749 |
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Non-Operating
Income |
162,722,950 |
195,294,970 |
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Non-Operating
expenses |
177,703,462 |
377,247,507 |
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Ordinary
Income |
1,193,146,112 |
1,651,829,212 |
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Special Income |
- |
- |
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Income Before
Taxes |
1,193,146,112 |
1,651,829,212 |
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Income Taxes
Expenses |
245,415,900 |
365,753,602 |
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Net Income |
947,730,212 |
1,286,075,610 |
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Bank Details |
Korea Exchange
Bank Dodang Dong
Branch |
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Corporate Registered No. |
124311-0033988 |
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Business Registered No. |
130-81-33247 |
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Permit & Licenses |
03/05/1996 EM 02/23/2000 CE 11/29/2001 EM 04/03/2002 ISO
9001 11/12/2002 ISO
14001 11/14/2002 CE 07/02/2004 ISO
9001 07/02/2004 ISO
14001 07/26/2004 CE 11/29/2005 EM |
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Shareholder Position |
Kang Shin-Young and his family has 100% shares. |
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Company History |
2005. 02 Development HM 400R 2004. 11. 26 Prize “Exporting USD5 million sales” by Korea Ministry of Commerce, Industry and Energy 2004. 10 Development HM 200R and HANA 300 2004. 07. 02 ISO 9001 / Quality System by BM TRADA / UKAS 2004. 07. 02 ISO 14001 / Environmental System by BM TRADA / UKAS 2004. 03. 03 Mr. Shin Young Kang, CEO, Prize “The Steel er Order of Industrial Service Merit” 2004. 01. 29 Singled out as Model of Faithful Taxpayer 2003. 11. 03 Mr. Dae-Hee Kang, President, Prize “The broze er Order of Industrial Service Merit” 2003. 05. 06 Register patent of Blister Package Machine 2003. 09. 19 Certificated of Achievement No Accident for 8 times period (2,540 days) from Korea Occupational Safety and Health Agency 2002. 11. 14 "CE-Mark" for MINISTAR-N5 and MINISTAR-V6 from SGS 2002. 11. 12 ISO14001 / Environmental System from BM TRADA/UKAS 2002. 09. 19 Certificated of Achievement No Accident for 8 times period (2,540 days) from Korea Occupational Safety and Health Agency 2002. 04. 03 ISO9001:2000 / Quality System by BM TRADA / UKAS 2002. 02. 01 Mr. Shin-Young Kang, New CEO, second after Mr. Dae-Hei Kang, inaugurated 2001. 12. Development FS-400 2001. 11. 30 Prize "Exporting USD3 million sales" by Korea Ministry of Commerce, Industry and Energy. 2001. 11. 09 "CE-Mark" for MINISTAR-400 and MINISTAR-G7 from SGSs 2000. 10. Development Ministar-400 2000. 07. Development Ministar-V6/TR for Tropicalized blister 2000. 03. 23 "CE-Mark" for MINISTAR-N8 from SGS 2000. 01. Development Ministar-V9 1999. 11. Development Ministar-V6 1998. 08. Development Minsitar N5 1998. 07. 24
"Hoong-A Research and 1995. 09. Development Cold forming (Alu/Alu) on Ministar-V 1995. 05. 22 ”Hoong-A America Corporation” established, with address at
1995. 10. Development FS-500 and G802/Battery Automatic feeding system 1992. 10. Development Ministar-N8 1992. 01. 01 Conversion to “Hoong-A Corporation” as corporation aggregate 1991. 09. Development MinistarG7 1991. 05. Development Ministar-AV 1989. 10. Development Ministar-VV for Toothbrush packaging 1984. 11. Development Ministar-V 1981. 07. 01 Establish Hoong-A Engineering Co. 1970. 12. 01 Establish Hoong-A Trading Corporation |
Products,
Technologies, Services Description
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Main Products & Services |
Blister
Packaging Machine Cartoning
Machine End Packaging
Machine Tablet Capsule
Inspector Tablet Capsule
Lifter Petrochemical
raw materials Food industry
machinery |
Organization
Structure
|
Suppliers |
BOUCHERIE CHAIST PERRY
INDUSTRIES |
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Customers |
Aventis Pfizer Colgate-Palmolive Oral-B Energizer Schiffer |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
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Affiliates |
H & K
Corporation |
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Subsidiary |
Hoong A
America Phone:
+1-56-407-9317 Fax: +1-562-407-9327 |
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%)