MIRA
INFORM REPORT
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Report Date : |
09.05.2007 |
IDENTIFICATION DETAILS
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Name : |
BOC GASES KOREA CO., LTD. |
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Registered Office : |
140-11, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
02/17/1975 |
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Legal Form : |
Company Limited by shares, Foreign Direct
Investment Corporations |
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Line of Business : |
Manufacture of Industrial Gases |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Basic
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Company
Name |
BOC GASES KOREA CO., LTD. |
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Registered Address |
140-11, |
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Zip Code |
790-240 |
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Tel |
+82-54-285-3401~3 |
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Fax |
+82-54-285-3645 |
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E-mail |
Sangjin.Shim@boc.com, Jongkyu.Choi@boc.com, yonghwan.Kim@boc.com |
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Website |
www.bocgases.co.kr |
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Trading Address / |
10th Fl., Samsung Insurance Bldg., 36-1,
Yeoeuido-dong, Yeongdeungpo-gu, |
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Tel |
+82-2-780-9331 |
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Fax |
+82-2-784-6333 |
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Seosan Factory |
679, Daejuk-ri, Daesan-eup, Seosan-si, Chungcheongnam-do
356-874 |
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Tel |
+82-41-667-7325~8 |
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Fax |
+82-41-667-6967 |
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Dangjin Factory |
427-2, Songseok-ri, Songsan-myeon, Dangjin-gun,
Chungcheongnam-do 343-832 |
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Tel |
+82-41-352-1648 |
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Fax |
+82-41-352-1647 |
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Seosan Branch |
411-5, Dokgot-ri, Daesan-eup, Seosan-si, |
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Industry |
Manufacture of Industrial Gases |
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Main Business |
Oxygen, Nitrogen |
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Established (mm/dd/yyyy) |
02/17/1975 |
The Subject owns the premises of registered
HQ address.
Detailed Products
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Noble gases(12142000) |
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Sell |
Argon gas Ar(12142004) |
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Sell |
Nitrogen N(12141903) |
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Sell |
Hydrogen H(12141902) |
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Sell |
Industrial use gases(12142100) |
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Sell |
Oxygen O(12141904) |
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Sell |
Helium gas He(12142005) |
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Sell |
Industrial use gases(12142100) |
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Buy |
Oscillating pumps(40151528) |
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Buy |
Safety valves(40141604) |
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Buy |
Fencing(30152000) |
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Buy |
cuit protection devices and accessories(39121600) |
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Buy |
Compressors(40151600) |
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Buy |
Storage tanks(24111803) |
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Buy |
Bins and baskets(24112000) |
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Buy |
Carburetors(26101710) |
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Buy |
Holding and clamping tools(27112100) |
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Buy |
Tubings(39121711) |
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Buy |
Valves(40141600) |
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Buy |
Pressure measuring and control instruments(41112400) |
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Buy |
Hoses(40142000) |
CEO’s
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Name |
Braddicson Kimber |
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Address |
36-1, Yeouido-dong, Yeongdeungpo-gu, |
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Date of Birth |
12/15/1960 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
South African |
Profiles
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Capital |
85,187,440,000 KRW |
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Employees |
155 |
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Formation |
CO., Ltd by shares, Foreign Direct
Investment Corporations |
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Bank Details |
Citi Bank, Korea-Yoido Branch Shinhan Bank S.C First Bank of |
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Corporate Registered No. |
174611-0001046 |
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Business Registered No. |
506-81-00604 |
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Permit & Licenses |
Int’l Trade No.: 892816 |
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Shareholder Position |
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Company History |
02/17/1975
Established 10/13/1988
Designated as a Foreign Direct Investment Corporations by 12/01/2005 Increased capital
85,187,440,000 KRW 12/31/2006 Decided to change the financial
closing date to December 31 from September 30 |
The Subject Company was established as a joint venture between BOC Group
(UK) and Korean local company in 1988.
In 1994, BOC Group acquired the shares owned by the local stake holder.
Now BOC Gases Korea is one of
The Ultra High Purity ASU (air separation unit) was built next to
Samsung Electronics Co. Ltd (
Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Day |
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President & CEO |
Mr. |
Braddicson Kimber |
Male |
South African |
03/02/2007 |
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Director |
Mr. |
Cho Keon-Hwan |
Male |
Korean |
12/31/1998 |
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Director |
Mr. |
Peter Owen |
Male |
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12/31/1998 |
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Director |
Mr. |
Victor Ram |
Male |
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12/28/2001 |
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Director |
Mr. |
Colin Isaac |
Male |
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03/01/2005 |
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Auditor |
Mr. |
Taeck Chon-Yoi |
Male |
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12/31/2004 |
Financials
Unit: KRW
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Year |
Sales |
Assets |
Net income |
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2006 |
120,662,127,487 |
172,840,728,769 |
(-)19,124,690,305 |
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121,429,475,457 |
154,161,795,115 |
11,984,145,589 |
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2004 |
106,479,676,511 |
136,725,789,641 |
11,974,804,918 |
12/31/2006 The Subject decided to change the financial closing date to
December 31 from September 30.
Financial Description
Unit: KRW
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Authorized Capital |
150,000,000,000 |
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Paid-Up Capital |
85,187,440,000 |
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Total Issues Shares |
17,037,488 |
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Balance Sheet |
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Unit : Korean Won |
10/01/2006~ 12/31/2006 |
10/01/2005~09/30/2006 |
10/01/2004~09/30/2005 |
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Total Assets |
179,436,773,158 |
172,840,728,769 |
154,161,795,115 |
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Current Assets |
31,368,511,054 |
21,292,362,654 |
27,163,440,933 |
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-Quick Assets |
25,046,410,788 |
16,047,263,495 |
23,722,997,319 |
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-Inventories |
6,322,100,266 |
5,245,099,159 |
3,440,443,614 |
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Fixed Assets |
148,068,262,104 |
151,548,366,115 |
126,998,354,182 |
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-Investment |
11,540,154,322 |
12,505,918,542 |
5,841,780,036 |
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-Tangibles |
134,358,724,646 |
136,698,370,996 |
118,064,009,443 |
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-Intangibles |
2,169,383,136 |
2,344,076,577 |
3,092,564,703 |
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Total Liabilities |
100,267,721,826 |
95,430,078,189 |
88,541,817,229 |
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Current Liabilities |
70,309,732,429 |
54,864,576,256 |
65,681,077,729 |
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Fixed Liabilities |
29,957,989,397 |
40,565,501,933 |
22,860,739,500 |
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Capital Stock |
85,187,440,000 |
85,187,440,000 |
54,122,420,000 |
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Capital Surplus |
467,372,332 |
467,372,332 |
617,029,333 |
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Profit Surplus |
(-)7873046335 |
(-)9,631,447,087 |
9,493,243,218 |
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Capital Adjustment |
1,387,285,335 |
1,387,285,335 |
1,387,285,335 |
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Total Equity |
79,169,051,332 |
77,410,650,580 |
65,619,977,886 |
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Liab. & Shareholder’s Equity |
179,436,773,158 |
172,840,728,769 |
154,161,795,115 |
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Income Statement |
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Unit : Korean Won |
10/01/2006~ 12/31/2006 |
10/01/2005~09/30/2006 |
10/01/2004~09/30/2005 |
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Sales |
29,667,400,996 |
120,662,127,487 |
121,429,475,457 |
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Cost of Sold Goods |
20,077,114,799 |
122,941,340,566 |
86,094,778,992 |
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Gross Profit |
9,590,286,197 |
(-)2,279,213,079 |
35,334,696,465 |
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Selling & Admin. Expenses |
4,796,060,382 |
17,860,290,779 |
15,832,708,623 |
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Operating Income |
4,794,225,815 |
(-)20,139,503,858 |
19,501,987,842 |
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Non-Operating Income |
406,269,257 |
847,313,888 |
2,009,303,840 |
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Non-Operating expenses |
2,688,932,531 |
7,558,297,664 |
5,742,222,762 |
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Ordinary Income |
2,511,562,541 |
(-)26,850,487,634 |
15,769,068,920 |
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Special Income |
- |
- |
- |
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Income Before Taxes |
2,511,562,541 |
(-)26,850,487,634 |
15,769,068,920 |
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Income Taxes Expenses |
753,161,789 |
(-)7,725,797,329 |
3,784,923,331 |
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Net Income |
1,758,400,752 |
(-)19,124,690,305 |
11,984,145,589 |
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Cash Flows |
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Unit : Korean Won |
10/01/2006~ 12/31/2006 |
10/01/2005~09/30/2006 |
10/01/2004~09/30/2005 |
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Cash Flows from Operating |
(-)13,808,384,201 |
20,196,989,222 |
38,335,794,253 |
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-Net Income |
1,758,400,752 |
(-)19,124,690,305 |
11,984,145,589 |
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-Exp. without Cash Outflow |
5,144,207,869 |
57,041,760,457 |
19,725,178,178 |
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-Revenue without Cash Inflows |
(-)841,799,917 |
(-)114,358,730 |
(-)1,433,409,076 |
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-Changes in Asset/ & Liability |
(-)19,869,192,905 |
(-)17,605,722,200 |
8,059,879,562 |
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Cash Flows from Investing |
(-)3,055,477,248 |
(-)67,624,477,489 |
(-)23,521,779,365 |
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-Cash Inflow from Investing |
36,795,277 |
856,235,310 |
2,931,187,343 |
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-Cash Outflows for Investing |
(-)3,092,272,525 |
(-)68,480,712,799 |
(-)26,452,966,708 |
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Cash Flows from Financing |
16,813,052,081 |
42,479,202,099 |
(-)10,691,672,370 |
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-Cash Inflows from Financing |
20,226,423,899 |
68,474,734,817 |
9,800,000,000 |
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-Cash Outflows from Financing |
(-)3,413,371,818 |
(-)25,995,532,718 |
(-)20,491,672,370 |
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Increase/Decrease in Cash |
50,809,368 |
4,948,286,168 |
4,122,342,518 |
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Cash at the Beginning of Year |
61,225,362 |
5,009,511,530 |
887,169,012 |
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Cash at the End of Year |
10,415,994 |
61,225,362 |
5,009,511,530 |
Products,
Technologies, Services
Description
|
Main Products & Services |
Oxygen, Nitrogen |
Organization
Structure
|
Suppliers |
SEETEC CO., LTD. Samsung Total Co., Ltd. |
|
Customers |
Daelim Industrial Dongkuk Steel INI Steel SEETECH Samsung Total Shelby Steel Samsung Electronics Co. Ltd |
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Competitors |
Daesung Industrial |
Related Parties (Subsidiaries,
Joint-
Venture &
Affiliates)
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Affiliates |
Shinil SoJae Co., Ltd (49.00% held by the
subject company) BOC Group Plc. BOC |
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Join Venture |
KIG The subject operates Dangjin factory with
KIG together. |
|
Cooperative |
PCI-WEDECO Environmental Technologies |
Sales by Region (Activity
& Markets)
Not Available.
Court Action
|
Case No. |
Court |
Plaintiff(s)/
Creditor(s)/ Applicant(s) |
Defendant(s)/
Debtor(s)/ Respondent(s) |
Cause |
Amount (KRW) |
Status |
|
|
|
|
The Subject
company |
|
1,000,000,000 |
Proceeding |
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 |
|
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 |
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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%)