MIRA
INFORM REPORT
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Report Date : |
11.09.2007 |
IDENTIFICATION DETAILS
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Name : |
LEEWHA SRC LTD. |
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Registered Office : |
301, Gail-ri, Amnyang-myeon, Gyeongsan-si, Gyeongsangbuk-Do - 712-821 |
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Country : |
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Financials (as on) : |
31.12.2004 |
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Date of Incorporation : |
05/03/1978 |
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Legal Form : |
Company Limited by shares |
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Line of Business : |
Manufacture of Washing, Dyeing, Finishing and Processing Industrial
Machinery Fibres. |
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 |
LEEWHA SRC LTD. |
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Registered Address |
301, Gail-ri, Amnyang-myeon, Gyeongsan-si,
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Zip Code |
712-821 |
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Tel |
+82-53-384-0241 |
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Fax |
+82-53-382-0241 |
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E-mail |
mdleewha@leewha.net ;leewhaco@chollian.net |
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Website |
www.leewha.net |
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Trading Address |
301, Gail-ri, Amnyang-myeon, Gyeongsan-si,
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Tel |
+82-53-384-0241 |
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Fax |
+82-53-382-0241 |
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Type |
Export |
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Industry |
Manufacture of Washing, Dyeing , Finishing and Processing Industrial
Machinery Fibres |
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Main Business |
Soft Winder, Rewinder, Assembly, Covering Twister, Pin Winding, Air
Covering |
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Established (mm/dd/yyyy) |
05/03/1978 |
Detailed Products
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Textile processing machinery and
accessories(23121500) |
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Sell |
Two For One Twister For Spun Yarn |
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Buy |
SKF Spindle Insert |
CEO’s
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Name |
Son Jong-Kyu |
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Address |
509, Siji-dong ,Suseong-gu, |
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Date of Birth |
12/12/1951 |
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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 |
1,600,000,000 KRW |
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Employees |
44 |
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Formation |
Co., Ltd by shares |
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Bank Details |
Daegu Bank-Bokhyun Branch |
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Corporate Registered No. |
170111-0008814 |
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Business Registered No. |
504-81-02659 |
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Permit & Licenses |
Int’l Trade No.: 552637 |
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Shareholder Position |
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Company History |
05/1978 Established
Leewha Industrial Co., Ltd. 11/1983 Developed
Two for One Twister YH-166Type 05/1984 Exhibited
TFO (manual type) at the 5th International Textile Machinery Exhibition. 04/1985 Developed
Two for One Twister (Fully Automatic) 06/1986 Chosen
as a Promising Small and Medium-sized Business by Kukmin Bank 11/1987 Awarded
the President's Certificate for Meritorious Deeds of Industrial Development
by Localization of Related Products. 1990 Developed
the Doubling Machine for Two for One Twister. 01/1991 Awarded
the Certificate for Excellent Machinery by Korean Association of Machinery
Industry. 05/1993 Developed
the Two for One Twister: LW560SA. 03/1995 Established
the Joint-venture Company in 11/1996 Awarded
a Certificate of Commendation for Ten million dollar export trade. 02/1998 Chosen
as a Promising Small and Medium-sized Export Company by Small Business
Corporation 04/1999 Issued
New Shares to be Purchased (Paid-up Capital: 1,600,000,000) 05/2000 Chosen
as a Promising Small and Medium-sized Export Company by Small and Medium
Business Administration. 11/2001 Chosen
as a Promising Leading Company of the Small and Medium Businesses by the 06/29/2007 Changed company name to the
present name 07/02/2007 Moved to the present address
from 503-1, Geomdan-dong ,Buk-gu, |
Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Day |
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President & CEO |
Mr. |
Son Jong-Kyu |
Male |
Korean |
03/25/2005 |
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Director |
Mr. |
Lee Myung-Won |
Male |
Korean |
03/25/2002 |
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Director |
Mr. |
Park Jung-Soo |
Male |
Korean |
03/25/2002 |
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Auditor |
M/S. |
Kim Myung-Sook |
Female |
Korean |
08/31/2006 |
Financials
Unit: KRW
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Year |
Sales |
Assets |
Net income |
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2004 |
4,243,000,000 |
6,051,000,000 |
297,000,000 |
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2003 |
5,699,000,000 |
6,833,000,000 |
528,000,000 |
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2002 |
17,531,000,000 |
10,694,000,000 |
2,073,000,000 |
The latest financial is not available.
Financial Description
Unit: KRW
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Authorized Capital |
4,500,000,000 |
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Paid-Up Capital |
1,600,000,000 |
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Total Issues Shares |
160,000 |
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Balance Sheet |
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Unit : Million Korean Won |
As of 12/31/2004 |
As of 12/31/2003 |
As of 12/31/2002 |
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Total Assets |
6,051 |
6,833 |
10,694 |
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Current Assets |
3,560 |
4,351 |
7,735 |
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-Quick Assets |
2,440 |
3,593 |
7,050 |
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-Inventories |
1,120 |
758 |
685 |
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Fixed Assets |
2,491 |
2,482 |
2,959 |
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-Investment |
569 |
700 |
752 |
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-Tangibles |
1,775 |
1,779 |
1,558 |
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-Intangibles |
147 |
3 |
649 |
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Total Liabilities |
1,520 |
1,788 |
5,942 |
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Current Liabilities |
839 |
939 |
4,705 |
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Fixed Liabilities |
681 |
849 |
1,237 |
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Capital Stock |
1,600 |
1,600 |
1,600 |
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Capital Surplus |
- |
- |
- |
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Profit Surplus |
2,931 |
3,445 |
3,152 |
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Capital Adjustment |
- |
- |
- |
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Total Equity |
4,531 |
5,045 |
4,752 |
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Liab. & Shareholder’s Equity |
6,051 |
6,833 |
10,694 |
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Income Statement |
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Unit : Million Korean Won |
As of 12/31/2004 |
As of 12/31/2003 |
As of 12/31/2002 |
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Sales |
4,243 |
5,699 |
17,531 |
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Cost of Sold Goods |
3,101 |
3,566 |
12,574 |
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Gross Profit |
1,142 |
2,133 |
4,957 |
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Selling & Admin. Expenses |
1,322 |
1,672 |
1,610 |
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Operating Income |
-179 |
461 |
3,347 |
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Non-Operating Income |
171 |
317 |
251 |
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Non-Operating expenses |
188 |
81 |
471 |
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Ordinary Income |
-197 |
697 |
3,127 |
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Special Income |
550 |
- |
100 |
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Special Loss |
- |
- |
650 |
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Income Before Taxes |
353 |
697 |
2,577 |
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Income Taxes Expenses |
56 |
169 |
504 |
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Net Income |
297 |
528 |
2,073 |
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Cash Flows |
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Unit : Million Korean Won |
As of 12/31/2003 |
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Cash Flows from Operating |
-1,469 |
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-Net Income |
529 |
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-Exp. without Cash Outflow |
127 |
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-Revenue
without Cash Inflows |
6 |
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-Changes in
Asset/ & Liability |
-2,119 |
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Cash Flows
from Investing |
-1,696 |
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-Cash Inflow
from Investing |
284 |
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-Cash
Outflows for Investing |
1,980 |
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Cash Flows
from Financing |
174 |
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-Cash
Inflows from Financing |
537 |
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-Cash
Outflows from Financing |
363 |
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Increase/Decrease
in Cash |
-2,990 |
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Cash at the
Beginning of Year |
3,551 |
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Cash at the End of Year |
560 |
Products,
Technologies, Services
Description
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Main Products & Services |
Two-for-one Twister for Spun Yarn
Assembly Winder Jet Winder for Air Covering Soft/Re Winder Fancy Twister Fancy Comb |
Related Parties
(Subsidiaries, Joint-
Venture &
Affiliates)
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Affiliates |
NAJEON METAL DAECHANG DANJO DAECHANG HEAVY MACHINERY |
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Joint Venture |
It is known that there is a joint venture
company in |
Sales by Region (Activity
& Markets)
The Subject exports to
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%)