MIRA
INFORM REPORT
|
Report Date : |
28.01.2008 |
IDENTIFICATION
DETAILS
|
Name : |
KANG LIM CSP CO., LTD. |
|
|
|
|
Registered Office : |
165, Cheongok-ri, Juchon-myeon, Gimhae-si, Gyeongsangnam-do, Korea |
|
|
|
|
Country : |
Korea (South) |
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
26.06.1982 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Manufacture of Pipes and Tubes, of Non-cast Iron or Steel |
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 : |
Regular |
|
|
|
|
Litigation : |
Clear |
Basic
|
Company Name |
KANG LIM CSP CO., LTD. |
|
Registered Address/Factory |
165, Cheongok-ri, Juchon-myeon, Gimhae-si, Gyeongsangnam-do, Korea |
|
Zip Code |
621-841 |
|
Tel |
+82-51-644-3111 |
|
Fax |
+82-51-644-3110 |
|
E-mail |
jeus1234@klcsp.co.kr;sshin@klcsp.co.kr;kwj3615@klcsp.co.kr |
|
Website |
|
|
Trading Address |
Kang Lim B/D, #869-28 Bom Chun-1 Dong, Jin Ku, Busan, Korea |
|
Tel |
+82 51 644 3003 |
|
Fax |
+82 51 644 1003 |
|
Other Address-Kimhea Plant |
|
|
Tel |
+82-55-338-6782 |
|
Fax |
+82-55-338-6359 |
|
Other Address-Seoul office |
|
|
Tel |
+82-2 571-7224 |
|
Fax |
+8 -2 571-7226 |
|
Other Address-Ulsan office |
|
|
Tel |
+82-52-267-3113 |
|
Fax |
+82-52-267-5750 |
|
Other Address-Yeochun office |
|
|
Tel |
+82-61-686-4004 |
|
Fax |
+82-61-686-8114 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Pipes and Tubes, of Non-cast Iron or Steel |
|
Main Business |
Seamless Steel Pipe, Welded Steel Pipe |
|
Established (mm/dd/yyyy) |
06/26/1982 |
The Subject owns
the premises of registered HQ address/Factory(20,831㎡).
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Pipe(40142100) |
CEO’s
|
Name |
Lee Su-Ho |
|
Address |
1049, Guseo-dong, Geumjeong-gu, Busan, Korea |
|
Date of Birth |
08/24/1957 |
|
Title |
Co-President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital |
7,241,400,000 KRW |
||||||||||||||||||
|
Employees |
58 |
||||||||||||||||||
|
Formation |
Co., Ltd by shares |
||||||||||||||||||
|
Bank Details |
Korea Exchange Bank-Bujeon Dong Branch Citi Bank, Korea Kookmin Bank |
||||||||||||||||||
|
Corporate Registered No. |
180111-0044775 |
||||||||||||||||||
|
Business Registered No. |
606-81-11833 |
||||||||||||||||||
|
Permit & Licenses |
08/2000 ISO 9001 Int’l Trade No.: 832436 |
||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||
|
Company History |
Oct.-1976 The company was established
Sep.-1981 Completed construction of Mora in Busan Stock yard (stock
CAPA. : 1,500M/T ) Jun.-1982 The Incorporated as Kang Lim Pipe Co., Ltd. Oct.-1983 Completed construction of Mora No.2 Stock yard(Stock CAPA. :
2,000M/T ) Jan.-1984 Registered as international Trading Company Mar.-1984 Awarded good tax-payer from domestic tax authority Mar.-1985 Awarded achivement of 2 million dollar export firm prize
Awarded achivement of 2 million dollar from Mayor of Busan Oct.-1987 Completed construction of Head office building Jan.-1991 Completed construction of Kimhae stock yard(Stock CAPA. :
6,000M/T ) Jan.-1992 Completed construction of Head office building (Total 12fls)
May.-1996 Opened Yeocheon Branch Sep.-1996 Completed construction of Kimhae No.2 stock yard(Stock CAPA.
: 15,000M/T ) Oct.-1997 Opened Ulsan Branch Nov.-1998 Awarded achivement of 10 millions dollar export firm prize Apr.-2000 Renamed KANG LIM CSP CO.,LTD Aug.-2000 Awarded Certification of ISO 9001:2000 (BVQI) Nov.-2000 Acquired Taecheon Steel Co., Ltd. Nov.-2004 Achieved USD 20 million export tower Award in 2004. Aug.-2005 Moved to the present HQ address from 276-1, Mora-dong,
Sasang-gu, Busan, Korea Jun.-2006 Awarded Certification of Korea Electric Power Industry Code
(KEPIC) Aug.-2006 Extended Head office (Kang Lim Blg) (Total 17 Floors) |
||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Day |
|
Co-President & CEO |
Mr. |
Lim Soo-Bok |
Male |
Korean |
03/30/2004 |
|
Co-President & CEO |
Mr. |
Lee Su-Ho |
Male |
Korean |
12/29/2004 |
|
Director |
Mr. |
Kim Woo-Jin |
Male |
Korean |
11/27/2002 |
|
Director |
Mr. |
Shin –Ki-Eun |
Male |
Korean |
05/17/2007 |
|
Director |
Mr. |
Lee Yong-Chang |
Male |
Korean |
05/17/2007 |
|
Director |
Mr. |
Lim Tae-Hyung |
Male |
Korean |
05/17/2007 |
|
Director |
Mr. |
Ku Bong-Joon |
Male |
Korean |
05/17/2007 |
|
Auditor |
Mr. |
Lee Jang-Jo |
Male |
Korean |
05/17/2007 |
Financials
Unit: KRW
|
Year |
Sales |
Assets |
Net income |
|
76,686,685,358 |
36,178,257,496 |
4,349,873,234 |
|
|
2005 |
54,324,340,332 |
35,841,604,598 |
2,126,493,758 |
|
2004 |
56,733,903,582 |
23,768,879,771 |
1,497,346,054 |
|
2003 |
41,597,573,512 |
21,059,829,012 |
762,089,420 |
|
2002 |
38,156,242,520 |
21,422,014,758 |
768,674,857 |
Financial Description
Unit: KRW
|
Authorized Capital |
8,672,000,000 |
|
Paid-Up Capital |
7,241,400,000 |
|
Total Issues Shares |
1,448,280 |
Balance
Sheet
|
|
|||
|
Unit : Korean Won |
As of
12/31/2006 |
As of
12/31/2005 |
As of
12/31/2004 |
|
Total Assets |
36,178,257,496 |
35,841,604,598 |
23,768,879,771 |
|
Current Assets |
25,696,154,563 |
27,276,312,049 |
15,419,412,394 |
|
-Quick Assets |
9,585,899,195 |
8,515,739,844 |
9,051,219,066 |
|
-Inventories |
16,110,255,368 |
18,760,572,205 |
6,368,193,328 |
|
Fixed Assets |
10,482,102,933 |
8,565,292,549 |
8,349,467,377 |
|
-Investment |
2,278,047,659 |
1,697,737,391 |
1,399,864,426 |
|
-Tangibles |
8,448,880,332 |
7,193,988,570 |
7,357,644,717 |
|
-Intangibles |
(-)244,825,058 |
(-)326,433,412 |
(-)408,041,766 |
|
Total Liabilities |
14,230,861,512 |
18,244,081,848 |
10,286,838,779 |
|
Current Liabilities |
14,139,861,512 |
18,153,081,848 |
10,196,838,779 |
|
Fixed Liabilities |
91,000,000 |
91,000,000 |
90,000,000 |
|
Capital Stock |
7,241,400,000 |
7,241,400,000 |
5,241,400,000 |
|
Capital Surplus |
1,422,991,330 |
1,422,991,330 |
1,434,003,330 |
|
Profit Surplus |
13,283,004,654 |
8,933,131,420 |
6,806,637,662 |
|
Capital Adjustment |
- |
- |
- |
|
Total Equity |
21,947,395,984 |
17,597,522,750 |
13,482,040,992 |
|
Liab. & Shareholder’s Equity |
36,178,257,496 |
35,841,604,598 |
23,768,879,771 |
|
Current Liabilities |
14,139,861,512 |
18,153,081,848 |
10,196,838,779 |
|
Trade Payables |
2,360,269,503 |
4,137,421,129 |
6,423,228,767 |
|
Short-Term Borrowings |
9,370,000,000 |
13,043,394,000 |
2,824,451,587 |
|
Account Payables |
570,419,808 |
315,562,951 |
196,031,392 |
|
Advance Receipts |
1,180,095 |
936,034 |
20,253,739 |
|
Withholdings |
680,310,794 |
48,148,318 |
200,969,900 |
|
Accrued Income Tax |
1,141,516,220 |
533,927,770 |
444,468,937 |
|
Accrued Expenses |
16,165,092 |
73,691,646 |
87,434,457 |
|
Fixed Liabilities |
91,000,000 |
91,000,000 |
90,000,000 |
|
Leasehold Deposit Received |
91,000,000 |
91,000,000 |
90,000,000 |
Income
Statement
|
|
|||
|
Unit : Korean Won |
As of
12/31/2006 |
As of
12/31/2005 |
As of
12/31/2004 |
|
Sales |
76,686,685,358 |
54,324,340,332 |
56,733,903,582 |
|
Cost of Sold Goods |
61,610,327,336 |
44,938,395,836 |
49,032,389,142 |
|
Gross Profit |
15,076,358,022 |
9,385,944,496 |
7,701,514,440 |
|
Selling & Admin. Expenses |
7,067,423,554 |
5,259,961,240 |
4,822,772,169 |
|
Operating Income |
8,008,934,468 |
4,125,983,256 |
2,878,742,271 |
|
Non-Operating Income |
1,268,046,375 |
432,165,779 |
614,156,119 |
|
Non-Operating expenses |
3,431,465,989 |
1,649,623,543 |
1,441,224,665 |
|
Ordinary Income |
5,845,514,854 |
2,908,525,492 |
2,051,673,725 |
|
Special Income |
- |
- |
- |
|
Income Before Taxes |
5,845,514,854 |
2,908,525,492 |
2,051,673,725 |
|
Income Taxes Expenses |
1,495,641,620 |
782,031,734 |
554,327,671 |
|
Net Income |
4,349,873,234 |
2,126,493,758 |
1,497,346,054 |
Cash
Flows
|
|
|||
|
Unit : Korean Won |
As of
12/31/2006 |
As of
12/31/2005 |
As of
12/31/2004 |
|
Cash Flows from Operating |
5,142,418,642 |
(-)12,039,556,855 |
4,246,842,988 |
|
-Net Income |
4,349,873,234 |
2,126,493,758 |
1,497,346,054 |
|
-Exp. without Cash Outflow |
326,811,910 |
386,919,426 |
885,368,145 |
|
-Revenue without Cash Inflows |
(-)81,608,354 |
(-)130,005,109 |
(-)97,422,853 |
|
-Changes in Asset/ & Liability |
547,341,852 |
(-)14,422,964,930 |
1,961,551,642 |
|
Cash Flows from Investing |
(-)1,912,668,111 |
(-)518,165,707 |
(-)692,792,963 |
|
-Cash Inflow from Investing |
1,204,957,654 |
2,022,455,205 |
9,185,763,035 |
|
-Cash Outflows for Investing |
(-)3,117,625,765 |
(-)2,540,620,912 |
(-)9,878,555,998 |
|
Cash Flows from Financing |
(-)3,418,537,143 |
12,376,858,727 |
(-)3,288,568,989 |
|
-Cash Inflows from Financing |
90,456,317,706 |
83,399,694,919 |
62,176,042,768 |
|
-Cash Outflows from Financing |
(-)93,874,854,849 |
(-)71,022,836,192 |
(-)65,464,611,757 |
|
Increase/Decrease in Cash |
(-)188,786,612 |
(-)180,863,835 |
265,481,036 |
|
Cash at the Beginning of Year |
329,796,855 |
510,660,690 |
245,179,654 |
|
Cash at the End of Year |
141,010,243 |
329,796,855 |
510,660,690 |
Products, Technologies, Services
Description
|
Main Products & Services |
Carbon Steel Pipe Low Temperature Pipe Alloy Steel Pipe Stainless Steel Pipe Carbon Steel Tube Low Temperature Tube Alloy Steel Tube Stainless Steel Tube Duplex Square Pipe |
Trade
Partners
|
Suppliers |
SEAH STEEL CORPORATION(110111-0118996) Uri Bldg., 10, Bongnaedong 1-ga, Jung-gu,
Seoul, Korea TEL:82-2-3783-8114 FAX:82-2-3783-8188 |
Related Parties (Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
SAMBI KANGLIM NATURAL GARDEN |
Sales by
Region (Activity &
Markets)
The Subject exports to Japan.
Court
Action
No.
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%)