MIRA
INFORM REPORT
|
Report Date : |
05.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
PILS CO., LTD. |
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|
|
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Registered Office : |
Rm. 1208, Byucksan Digital Valley 132-7,
Gamjeon-dong, Sasang-gu, Busan, 617-731 |
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|
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Country : |
Korea |
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|
|
|
Financials (as on) : |
31.12.2007 |
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|
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Date of Incorporation : |
24.06.1998 |
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Com. Reg. No.: |
603-81-35379 |
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|
|
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Legal Form : |
Company Limited by Shares |
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|
|
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Line of Business : |
Wholesale of Transportation Equipment |
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 |
|
|
|
|
Payment Behaviour : |
No Complaints |
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|
|
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Litigation : |
Clear |
Basic
|
Company
Name |
PILS CO., LTD. (Korean Company
Name : “필스”) |
|
Registered Address |
132-7, Gamjeon-dong, Sasang-gu, Busan,
Korea |
|
Building |
Rm. 1208, Byucksan Digital Valley |
|
Zip Code |
617-731 |
|
Tel |
+82-51-320-0700 |
|
Fax |
+82-51-320-0730 |
|
E-mail |
webmaster@pils.co.kr;joonho@pils.co.kr |
|
Website |
www.pils.co.kr |
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Trading Address |
Rm. 1208, Byucksan Digital Valley, 132-7, Gamjeon-dong,
Sasang-gu, Busan, Korea |
|
Tel |
+82-51-320-0700 |
|
Fax |
+82-51-320-0730 |
|
Other Address- Gimhae Branch |
91-8, Bongnim-ri, Saengnim-myeon,
Gimhae-si, Gyeongsangnam-do, Korea |
|
Type |
Export/Import |
|
Industry |
Wholesale of Transportation Equipment |
|
Main Business |
Marine Equipment, Engineering |
|
Sub Business |
Other Engineering Services |
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Established (mm/dd/yyyy) |
06/24/1998 |
The Subject owns
the premises of registered HQ address(196.0㎡) and Gimhae Branch(11,807㎡).
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Naval architecture(81101506) |
|
Sell |
International trade services(80151600) |
|
Sell |
Transport arrangements(78141500) |
|
Sell |
Marine craft systems and
subassemblies(25111900) |
CEO’s
|
Name |
Kim Ju-Cheol |
|
Address |
224-1, Bugok-dong, Geumjeong-gu,
Busan, Korea |
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Date of Birth |
12/01/1959 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital |
100,000,000 KRW |
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Employees |
50 |
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Formation |
Co., Ltd by shares |
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Bank Details |
Industrial Bank of Korea-Noksan Industrial
Complex Branch Kookmin Bank Hana Bank Woori Bank Shinhan Bank |
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Corporate Registered No. |
180111-0260488 |
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Business Registered No. |
603-81-35379 |
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Permit & Licenses |
Int’l Trade No.: 12085600 |
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Shareholder Position |
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Company History |
06/24/1998 incorporated as the present name 01/21/2005 Moved to the present HQ address
from 1591-7, Songjeong-dong, Gangseo-gu, Busan, Korea |
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Kim Ju-Cheol |
Male |
Korean |
03/23/2001 |
|
Director |
Mr. |
Ok Tae-Hwa |
Male |
Korean |
03/23/2001 |
|
Director |
Mr. |
Jung Soon-Ho |
Male |
Korean |
01/10/2006 |
|
Auditor |
Mr. |
Han Shin-Hee |
Male |
Korean |
01/10/2006 |
|
Supervisor of HQ |
Mr. |
Lee Hurn-Joon |
Male |
Korean |
08/25/2004 |
Financials
Unit: KRW
|
Year |
Sales |
Assets |
Net income |
|
59,752,666,742 |
22,105,326,789 |
389,233,024 |
|
|
2006 |
46,467,775,963 |
13,514,620,900 |
402,453,411 |
|
2005 |
38,155,911,097 |
9,838,823,046 |
438,918,340 |
Financial Description
Unit: KRW
|
Authorized
Capital |
400,000,000 |
|
Paid-Up
Capital |
100,000,000 |
|
Total Issues Shares |
10,000 |
Balance
Sheet
|
Unit : Korean Won |
As of 12/31/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Total Assets |
22,105,326,789 |
13,514,620,900 |
9,838,823,046 |
|
Current Assets |
18,484,639,471 |
9,117,830,829 |
6,671,479,274 |
|
-Quick Assets |
12,870,557,338 |
7,837,886,427 |
6,286,602,105 |
|
-Inventories |
5,614,082,133 |
1,279,944,402 |
384,877,169 |
|
Fixed Assets |
3,620,687,318 |
4,396,790,071 |
3,167,343,772 |
|
-Investment |
472,400,000 |
127,400,000 |
212,275,853 |
|
-Tangibles |
2,925,179,165 |
4,099,770,918 |
2,953,967,919 |
|
-Intangibles |
1,100,000 |
1,100,000 |
1,100,000 |
|
-Others |
222,008,153 |
168,519,153 |
- |
|
Total Liabilities |
20,245,466,365 |
12,043,993,500 |
8,770,649,057 |
|
Current Liabilities |
19,535,797,775 |
10,784,725,135 |
7,873,205,156 |
|
Fixed Liabilities |
709,668,590 |
1,259,268,365 |
897,443,901 |
|
Capital Stock |
100,000,000 |
100,000,000 |
100,000,000 |
|
Capital Surplus |
- |
- |
- |
|
Profit Surplus |
1,759,860,424 |
1,370,627,400 |
968,173,989 |
|
Capital Adjustment |
- |
- |
- |
|
Total Equity |
1,859,860,424 |
1,470,627,400 |
1,068,173,989 |
|
Liab. &
Shareholder’s Equity |
22,105,326,789 |
13,514,620,900 |
9,838,823,046 |
|
Current Liabilities |
19,535,797,775 |
10,784,725,135 |
7,873,205,156 |
|
Trade Payables |
9,792,331,004 |
8,164,608,766 |
6,685,039,312 |
|
Short-Term Borrowings |
4,946,665,400 |
1,567,460,100 |
367,460,100 |
|
Account Payables |
461,338,002 |
373,380,451 |
304,355,878 |
|
Advance Receipts |
3,626,289,743 |
66,373,348 |
72,700,001 |
|
Withholdings |
62,997,936 |
43,100,632 |
34,942,268 |
|
Accrued Expenses |
182,636,946 |
182,514,322 |
324,396,177 |
|
Accrued Income Tax |
72,205,960 |
68,239,260 |
64,311,420 |
|
Guarantee Deposit Withhold |
254,000,000 |
254,000,000 |
20,000,000 |
|
Current Portion of Long-Term
Debts |
137,332,784 |
65,048,256 |
- |
|
Fixed
Liabilities |
709,668,590 |
1,259,268,365 |
897,443,901 |
|
Provision for Severance &
Retirement |
354,161,830 |
329,483,970 |
309,759,680 |
|
Leasehold Deposit Received |
41,000,000 |
51,000,000 |
12,000,000 |
|
Long-Term Borrowings |
549,331,136 |
1,119,427,920 |
816,794,180 |
Income
Statement
|
Unit : Korean Won |
As of 12/31/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Sales |
59,752,666,742 |
46,467,775,963 |
38,155,911,097 |
|
Cost of Sold Goods |
54,111,203,580 |
41,137,625,616 |
33,186,674,162 |
|
Gross Profit |
5,641,463,162 |
5,330,150,347 |
4,969,236,935 |
|
Selling & Admin. Expenses |
5,478,677,585 |
4,979,746,668 |
4,729,976,917 |
|
Operating Income |
162,785,577 |
350,403,679 |
239,260,018 |
|
Non-Operating Income |
924,232,921 |
521,189,381 |
673,644,844 |
|
Non-Operating expenses |
547,636,474 |
337,642,649 |
337,271,592 |
|
Ordinary Income |
539,382,024 |
533,950,411 |
575,633,270 |
|
Special Income |
- |
- |
- |
|
Income Before Taxes |
539,382,024 |
533,950,411 |
575,633,270 |
|
Income Taxes Expenses |
150,149,000 |
131,497,000 |
136,714,930 |
|
Net Income |
389,233,024 |
402,453,411 |
438,918,340 |
Cash
Flows
|
Unit : Korean Won |
As of 12/31/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Cash Flows from Operating |
(-)4,863,918,485 |
(-)104,792,503 |
1,947,963,144 |
|
-Net Income |
389,233,024 |
402,453,411 |
438,918,340 |
|
-Exp. without Cash Outflow |
287,050,846 |
292,942,011 |
232,913,880 |
|
-Revenue
without Cash Inflows |
(-)317,355,474 |
(-)111,793,842 |
(-)3,180,318 |
|
-Changes in
Asset/ & Liability |
(-)5,222,846,881 |
(-)688,394,083 |
1,279,311,242 |
|
Cash Flows
from Investing |
809,759,206 |
(-)1,318,656,346 |
(-)1,874,180,507 |
|
-Cash Inflow
from Investing |
3,391,107,270 |
552,370,377 |
229,365,556 |
|
-Cash
Outflows for Investing |
(-)2,581,348,064 |
(-)1,871,026,723 |
(-)2,103,546,063 |
|
Cash Flows
from Financing |
2,903,310,227 |
1,783,224,575 |
735,420,695 |
|
-Cash
Inflows from Financing |
3,545,067,295 |
5,831,534,273 |
773,667,680 |
|
-Cash
Outflows from Financing |
(-)641,757,068 |
(-)4,048,309,698 |
(-)38,246,985 |
|
Increase/Decrease in Cash |
(-)1,150,849,052 |
359,775,726 |
809,203,332 |
|
Cash at the Beginning of Year |
1,851,628,575 |
1,491,852,849 |
682,649,517 |
|
Cash at the End of Year |
700,779,523 |
1,851,628,575 |
1,491,852,849 |
Products, Technologies, Services
Description
|
Main
Products & Services |
Purchasing Material & Equipment International Trading -Spare Parts Dealing -Welding Material
-Welding Machine
-Mild & High tensile strength steel -Atmospheric Corrosion Resisting Steel
-Low Temperature Service Steel
-Low-Alloy Heat Resisting Steel Logistic Service -Warehouse & Utilities Service Inspection service Engineering Service -Ship Design -Superintend -Basic Engineering Service -Software -Lashing Bridge Engineering &
Fabrication |
Trade
Partners
|
Suppliers |
IL SUNG ENTERPRISE CO. SANGRIM TECHNOLOGY A.P.MOLLER ANANGEL SHIPPING ENTERPRISES S.A. AVRA SHIPMANAGEMENT S.A. BROSTROM TANKERS SA CERES HELLENIC SHIPPING ENTERPRISES LTD. CHEVRON SHIPPING COMPANY LLC CONOCO SHIPPING COMPANY COSTAMARE SHIPPING CO. S.A. KOC ELECTRIC CO., LTD ELETSON CORPORATION GRIMALDI GROUP HANSEATIC SHIPPING COMPANY LTD. DAI HAN ANCHOR CHAIN MFG. CO., LTD HAPAG - LLOYD CONTAINER LINIE GMBH KUWAIT OIL TANKER COMPANY S.A.K. MINERVA MARINE INC. MABA TRADING CO., LTD RICKMERS |
|
Customers |
DUBAI DRYDOKS-UAE SAMSUNG HEAVY INDUSTRIES CO.,
LTD.(110111-0168595) |
|
Competitors |
CENTRAL MARITIME CO., LTD. 1419-4, DAEJEO 1-DONG, GANGSEO-GU, BUSAN,
KOREA TEL:+82-51-971-0777 FAX:+82-51-972-0779 DONGKANG M-TECH CO., LTD. 7TH FL., YOUNGWON BLDG., 739-5, YEOKSAM
1-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-553-0181 FAX:+82-2-553-0121 GOODSEN INTERNATIONAL CO., LTD. RM. 405, HANYEONG BLDG., 57-9, SEOSOMUN-DONG,
JUNG-GU, SEOUL, KOREA TEL:+82-2-756-3506 FAX:+82-2-6670-2265 AJAX MARITIME CO., LTD. 3RD FL., DAECHANG BLDG., 64, DAEGYODONG
1-GA, YEONGDO-GU, BUSAN, KOREA TEL:+82-51-417-8877 FAX:+82-51-417-8879 |
Related Parties (Subsidiaries, Joint-Venture
& Affiliates)
|
Affiliates |
TAKKEDA CO., LTD. (30.0% held by the subject company) VINA SHIN KOREA CO., LTD.(180111-0551051) (24.0% held by the subject company) DK INDUSTRY CO., LTD.(180111-0403757) (33.0% held by the subject company) GJ GLOBAL CO., LTD. (18.0% held by the subject company) SAMWOO PROPELLER CO., LTD. (19.0% held by the subject company) SPCU CO., LTD.(110111-2861262 ) (40.0% held by the subject company) |
|
Cooperative Enterprise |
-Insured Company SAMSUNG FIRE & MARINE INSURANCE CO.,
LTD(110111-0005078) |
Sales by
Region (Activity &
Markets)
The Subject imports
from USA and Europe.
Court
Action
No.
News
Clipping
--
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.69 |
|
UK Pound |
1 |
Rs.72.96 |
|
Euro |
1 |
Rs.63.46 |
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. |
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%)