MIRA
INFORM REPORT
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Report Date : |
16.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
IINITECH MACHINERY CO LTD |
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Registered Office : |
396-1, Swaeam-ri, Daegot-myeon, Gimpo-si, Gyeonggi-do |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2003 |
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Date of Incorporation : |
28-10-1998 |
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Legal Form : |
Limited Liability company |
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Line of Business : |
Manufacture of Rubber, Man-made Fiber and Plastic Machinery |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
No Complaints |
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Litigation : |
Clear |
Basic INFORMATION
BASIC
|
Company
Name |
INITECH
MACHINERY CO., LTD. |
|
Registered Address |
396-1, Swaeam-ri, Daegot-myeon, Gimpo-si,
Gyeonggi-do, Korea |
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Zip Code |
415-855 |
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Tel |
+82-31-998-2288 |
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Fax |
+82-31-998-3090 |
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E-mail |
initechm@chol.com |
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Website |
www.initechm.com |
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Trading
Address |
396-1, Swaeam-ri, Daegot-myeon, Gimpo-si,
Gyeonggi-do, Korea |
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Tel |
+82-31-998-2288 |
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Fax |
+82-31-998-3090 |
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Other
Address-Factory |
363-155, Gyeongseo-dong, Seo-gu, Incheon,
Korea |
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Tel |
+82-32-567-5577 |
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Fax |
+82-32-567-5800 |
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Type |
Export |
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Industry |
Manufacture
of Rubber, Man-made fiber and Plastic Machinery |
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Main
Business |
Extrusion
Laminator, Sheet Manufacturing Machine, Thin Sheet Manufacturing Machine,
Rubber Tube Extruder, Steel Pipe 3 Layer Coating Plant |
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Established (mm/dd/yyyy) |
10/28/1998 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
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Sell |
Metal bending and forming machinery(23171700) |
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Sell |
Laminators(44102801) |
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Sell |
Extruders(23151503) |
CEO’s
|
Name |
Lee
Dong-Jun |
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Address |
1099-2, Jung-dong, Wonmi-gu,
Bucheon-si, Gyeonggi-do, Korea |
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Date of Birth |
02/10/1957 |
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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 |
700,000,000 KRW |
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Employees |
14 |
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Formation |
Co., Ltd by shares |
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Bank Details |
Woori Bank |
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Corporate
Registered No. |
120111-0178609 |
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Business Registered
No. |
137-81-21136 |
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Permit &
Licenses |
06/26/1999 ISO 9001 04/09/2004 ISO
14001 Int’l Trade No.:
11578932 |
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Shareholder
Position |
N/A |
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Company History |
06/1991 Established LEE Plastic Co 02/1994 Changed company name to Seoil
Machinery Co 10/28/1998 Incorporated as the present name 12/27/2007 Increased capital to 700,000,000
KRW from 400,000,000 KRW |
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The Subject manufactures and exports plastic extrusion machinery and
incidental equipment.
DETAILED INFORMATION
Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Day |
|
President & CEO |
Mr. |
Lee
Dong-Jun |
Male |
Korean |
01/16/2003 |
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Director |
Mr. |
Chung Byung-Chul |
Male |
Korean |
01/16/2003 |
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Director |
Mr. |
Kim Dong-Il |
Male |
Korean |
12/20/2007 |
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Auditor |
M/S. |
Kim Jung-Sook |
Female |
Korean |
12/20/2007 |
Financials Unit:
KRW
|
Year |
Sales |
Assets |
Net income |
|
2003 |
1,865,000,000 |
911,000,000 |
92,000,000 |
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2002 |
2,189,000,000 |
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The latest financial
is not available, and the subject does not have any obligation to release its
financials to the public.
Financial Description Unit: KRW
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Authorized Capital |
10,000,000,000 |
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Paid-Up Capital |
700,000,000 |
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Total Issues Shares |
70,000 |
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Balance Sheet |
|||
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Unit : Million Korean Won |
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As of 12/31/2003 |
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Total Assets |
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911 |
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Current Assets |
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704 |
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-Quick Assets |
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|
245 |
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-Inventories |
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459 |
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Fixed Assets |
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207 |
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-Investment |
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48 |
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-Tangibles |
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159 |
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-Intangibles |
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Total Liabilities |
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793 |
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Current Liabilities |
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793 |
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Fixed Liabilities |
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Capital Stock |
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200 |
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Capital Surplus |
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Profit Surplus |
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(-)82 |
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Capital Adjustment |
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Total Equity |
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118 |
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Liab. &
Shareholder’s Equity |
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|
911 |
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Income Statement |
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Unit : Million
Korean Won |
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As of 12/31/2003 |
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Sales |
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1,865 |
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Cost of Sold Goods |
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1,661 |
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Gross Profit |
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204 |
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Selling & Admin. Expenses |
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105 |
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Operating Income |
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99 |
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Non-Operating
Income |
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1 |
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Non-Operating
expenses |
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8 |
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Ordinary Income |
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92 |
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Special Income |
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- |
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Income Before Taxes |
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92 |
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Income Taxes
Expenses |
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- |
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Net Income |
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|
92 |
Products, Technologies, Services Description
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Main Products & Services |
Steel Pipe External
Shotblasting & 3 Layer Coating Plant Steel Pipe External
Shotblasting & Epoxy Coating Plant Al Composite Panel
Machine Extrusion Laminator
(Single, Tandem, Turning Bar) PP, PE, PS, ABS,
PVC Sheet Machine (Thin, Thick, Multi-Layer) Special Sheet
Machine (Corrugated, Foamed, Geo-Membrane, Sheet Non-Woven Fabric) Pet Sheet Machine
(Twin Screw Extrusion) Cast Film Machine
(CPP, CPE, Ventilation) Pipe Machine (HDPE,
PVC, DSF) Monofilament
Machine (Nylon, Polyester, PP, HDPE, Danline) Compounding Machine
(Single, Twin, Wet, Dry) Rubber Extruder
(Tube, Strainer) Super Henschel
Mixer (Super, Combination) |
Trade Partners
|
Customers |
HYUNDAI METAL
INDONESIA CO., LTD DONG SUNG C-TECH
CO., LTD KWANG SHIN GENERAL
STEEL CO., LTD HAN KOOK CAST IRON
PIPE CO., LTD HEUNG-AH TIRE CO.,
LTD MY CHEMICAL CO.,
LTD UMIMEX POLYSACK
CO., LTD NEXEN CORP. CHINA POLYCITY CO., LTD PT-E-PACK INDONESIA MARUBENI LTD. JAPAN NANO TECHNICS TAE SUNG IND' CO.,
LTD YANTAI ZHONG XING
C-TECH CO., LTD. (CHINA) MYUNG SUNG STEEL
CO., LTD DONG YANG STEEL
PIPE CO., LTD COTEK CO., LTD WONLIM COPORATION DONG YEON IND CO.,
LTD KOR-VIPAEK CO.,
LTD. (VIETNAM) TAE SUNG IND CO.,
LTD. (VIETNAM) DAE RYUK METAL CO.,
LTD |
Sales by Region (Activity & Markets)
The Subject exports to Japan, China, Indonesia,
India and Vietnam.
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%)