MIRA
INFORM REPORT
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Report Date : |
31.10.2007 |
IDENTIFICATION
DETAILS
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Name : |
GS MEDICAL CO., LTD. |
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Registered Office : |
12th Fl., Kolon Digital Tower Aston, 505-14, Gasan-dong,
Geumcheon-gu, Seoul - 153-803 |
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Country : |
Korea |
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Financials (as on) : |
30.06.2006 |
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Date of Incorporation : |
09/04/2002 |
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Legal Form : |
Company Limited by shares |
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Line of Business : |
Manufacture of Orthopedic Appliances; and Appliances and Supplies to Compensate
for Disability |
RATING &
COMMENTS
|
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 |
GS MEDICAL CO., LTD. |
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Registered Address |
505-14, Gasan-dong, Geumcheon-gu, Seoul,
Korea |
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Building |
12th Fl., Kolon Digital Tower Aston |
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Zip Code |
153-803 |
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Tel |
+82-2-2082-7777 |
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Fax |
+82-2-2082-7778 |
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Website |
www.gsmedi.com |
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Trading Address |
12th Fl., Kolon Digital Tower Aston,
505-14, Gasan-dong, Geumcheon-gu, Seoul, Korea |
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Tel |
+82-2-2082-7777 |
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Fax |
+82-2-2082-7778 |
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Other Address-Factory |
170-6, Seogeun-ri, Paltan-myeon,
Hwaseong-si, Gyeonggi-do, Korea |
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Tel |
+82-31-354-5626/5996 |
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Fax |
+82-31-354-5259 |
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Type |
Export/Import |
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Industry |
Manufacture of Orthopedic Appliances; and Appliances and Supplies to
Compensate for Disability |
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Main Business |
Medical Implants |
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Established (mm/dd/yyyy) |
09/04/2002 |
The Subject owns
the premises of factory.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
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Sell |
Medical Spine |
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Sell |
Pedicle Screw System |
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Sell |
Medical Supplies |
CEO’s
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Name |
Shin Min-Sik |
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Address |
433, Apgujeong-dong, Gangnam-gu, Seoul, Korea |
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Date of Birth |
11/02/1957 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
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Capital |
450,000,000 KRW |
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Employees |
66 |
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Formation |
Co., Ltd y shares Venture Business |
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Bank Details |
Woori Bank-Seoul Digital 3 Danji Branch |
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Corporate Registered No. |
110111-2603044 |
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Business Registered No. |
114-86-21778 |
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Permit & Licenses |
2005 ISO 9001:2000 2005 ISO 13485:2003 01/2005 CE Mark Int’l Trade No.: 45045231 |
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Shareholder Position |
N/A |
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Company History |
1986 Established as GOLD SANGSA CO. 09/04/2002
Incorporated as White Medical Co., Ltd. 05/08/2003
Increased capital to 450,000,000 KRW from 50,000,000 KRW 01/15/2004
Changed company name to the present name 11/14/2005
Moved to the present HQ address from 49-5, Banpo-dong, Seocho-gu, Seoul, Korea 01/2006 Designated as Venture Business |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Day |
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President & CEO |
Mr. |
Shin Min-Sik |
Male |
Korean |
05/23/2005 |
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Director |
Mr. |
Lee Yi-Tae |
Male |
Korean |
09/04/2002 |
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Auditor |
Mr. |
Kim Hyun-Koo |
Male |
Korean |
09/03/2004 |
Financials
Unit: KRW
|
Year |
Sales |
Assets |
Net income |
|
15,506,000,000 |
6,782,000,000 |
660,000,000 |
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|
2005 |
12,806,000,000 |
6,543,000,000 |
619,000,000 |
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2004 |
4,366,000,000 |
4,162,000,000 |
113,000,000 |
Financial Description
Unit: KRW
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Authorized
Capital |
450,000,000 |
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Paid-Up
Capital |
450,000,000 |
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Total Issues Shares |
45,000 |
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Balance Sheet |
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Unit : Million Korean Won |
As of 06/30/2006 |
As of 06/30/2005 |
As of 06/30/2004 |
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Total Assets |
6,782 |
6,543 |
4,162 |
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Current Assets |
2,926 |
3,966 |
1,742 |
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-Quick Assets |
2,336 |
3,229 |
1,210 |
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-Inventories |
590 |
737 |
532 |
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Fixed Assets |
3,856 |
2,577 |
2,420 |
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-Investment |
1,536 |
488 |
249 |
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-Tangibles |
2,312 |
2,080 |
2,166 |
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-Intangibles |
8 |
9 |
4 |
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Total Liabilities |
4,854 |
5,276 |
3,513 |
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Current Liabilities |
1,231 |
2,207 |
3,506 |
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Fixed Liabilities |
3,623 |
3,069 |
6 |
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Capital Stock |
450 |
450 |
450 |
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Capital Surplus |
- |
- |
- |
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Profit Surplus |
1,478 |
817 |
199 |
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Capital Adjustment |
- |
- |
- |
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Total Equity |
1,928 |
1,267 |
649 |
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Liab. & Shareholder’s Equity |
6,782 |
6,543 |
4,162 |
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Income Statement |
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Unit : Million Korean Won |
As of 06/30/2006 |
As of 06/30/2005 |
As of 06/30/2004 |
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Sales |
15,506 |
12,806 |
4,366 |
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Cost of Sold Goods |
6,559 |
7,190 |
2,426 |
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Gross Profit |
8,947 |
5,615 |
1,939 |
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Selling & Admin. Expenses |
7,446 |
4,670 |
1,777 |
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Operating Income |
1,501 |
946 |
163 |
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Non-Operating Income |
39 |
22 |
47 |
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Non-Operating expenses |
533 |
62 |
28 |
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Ordinary Income |
1,007 |
905 |
182 |
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Special Income |
- |
- |
- |
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Income Before Taxes |
1,007 |
905 |
182 |
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Income Taxes Expenses |
347 |
287 |
69 |
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Net Income |
660 |
619 |
113 |
Products, Technologies, Services
Description
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Main
Products & Services |
SPINE TKR BONE SUBSTITUTE Brand Name: GSS™, BASIC™ |
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Annual
Production Capacity |
30,000 Sets |
Trade
Partners
|
Suppliers |
ABBOTTSPINE LDR MEDICAL WRIGHT MEDICAL |
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Competitors |
MEDTRONIC KOREA CO., LTD.( 110111-2002733) |
Sales by
Region (Activity &
Markets)
The Subject deals with the companies in Brazil, China, France, Germany,
India, Indonesia, Malaysia and USA.
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. |
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%)