MIRA INFORM REPORT
|
Report Date : |
31.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
GLOBAL BATTERY CO LTD |
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Registered Office : |
708-8, Yeoksam 2-dong, Gangnam-gu, Seoul |
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Country : |
Korea |
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Financials (as on) : |
30.06.2008 |
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Date of Incorporation : |
10.02.1966 |
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Com. Reg. No.: |
220-81-00490 |
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|
Legal Form : |
Listed Company(Korea Stock Exchange :
004490) as of 28.11.1987 A
Company of SEBANG GROUP |
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Line of Business : |
Manufacturer of Automotive Batteries, Industrial Batteries, Motorcycle
Batteries, Battery |
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 : |
Good |
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|
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Payment Behaviour : |
No Complaints |
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|
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Litigation : |
Clear |
Basic
|
Company Name |
GLOBAL BATTERY
CO., LTD. (Korean Company
Name : “세방전지”) |
|
Registered Address |
708-8, Yeoksam 2-dong, Gangnam-gu, Seoul,
Korea |
|
Building |
6th Fl., Sebang Bldg. |
|
Zip Code |
135-919 |
|
Tel |
+82-2-3451-6201 |
|
Fax |
+82-2-3451-6301 |
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E-mail |
antony@gbattery.com;yhs@gbattery.com;jykim@gbattery.com;
icna@gbattery.com |
|
Website |
www.gbattery.com |
|
Trading Address |
6th Fl., Sebang Bldg., 708-8, Yeoksam
2-dong, Gangnam-gu, Seoul, Korea(P.O.BOX 5020) |
|
Tel |
+82-2-3451-6201 |
|
Fax |
+82-2-538-4353 +82-2-538-4737 |
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Other Address-Gwangju Factory |
500-4, Hanam-dong, Gwangsan-gu, Gwangju,
Korea |
|
Tel |
+82-62-601-6100 |
|
Fax |
+82-62-951-4126 |
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Other Address-Changwon Factory |
601-9, Namsan-dong, Changwon-si, Gyeongsangnam-do, Korea |
|
Tel |
+82-55-279-9700 |
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Fax |
+82-55-282-2658 |
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Other Address-Domestic Sales Office |
827-6, Gwanyang 2-dong, Dongan-gu,
Anyang-si, Gyeonggi-do, Korea |
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Tel |
+82-31-436-3200 |
|
Fax |
+82-31-436-3353 |
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Other Address-Busan Sales Office |
313-3, Daecheong-ri, Jangyu-myeon, Gimhae-si, Gyeongsangnam-do, Korea |
|
Tel |
+82-55-314-6515 |
|
Fax |
+82-55-314-6514 |
|
Other Address-Daegu Sales Office |
603-4, Gwangcheon-dong, Seo-gu, Gwangju,
Korea |
|
Tel |
+82-62-365-9969 |
|
Fax |
+82-62-366-9969 |
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Other Address-Daegu Sales Office |
3rd Fl., KARICO Bldg., 123-1, Sincheon 3-dong, Dong-gu, Daegu, Korea |
|
Tel |
+82-53-746-9201~3 |
|
Fax |
+82-53-746-9204 |
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Other Address-Daejeon Sales Office |
3rd Fl., Unam Bldg., 62-1, Ojeong-dong, Daedeok-gu, Daejeon, Korea |
|
Tel |
+82-42-632-8841 |
|
Fax |
+82-42-632-8845 |
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Other
Address- R & D Center |
500-5, Hanam-Dong, Gwangsan-Ku, Gwangju 506-250 South Korea |
|
Type |
Export/Import |
|
Industry |
Manufacture of Accumulators |
|
Main Business |
Automotive Batteries, Industrial Batteries, Motorcycle Batteries,
Battery |
|
Established (mm/dd/yyyy) |
02/10/1966 |
The Subject owns
the premises of Gwangju Factory(65,695.30㎡), Changwon Factory(92,423.90㎡)
and Busan Sales Office(14.03㎡).
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Vehicle batteries(26111703) |
|
Sell |
Batteries and cells and
accessories(26111700) |
CEO’s
|
Name |
Kim Sung-Kyu |
|
Date of Birth |
01/07/1951 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital |
7,000,000,000 KRW |
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|
Employees |
795 |
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Formation |
Listed Company(Korea Stock Exchange :
004490) as of 11/28/1987 A Company of SEBANG GROUP |
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Bank Details |
Korea Exchange Bank- Bangbae-Dong Branch 935-34 Bangbae Dong, Sue - Cho Ku, Seoul 137-060 South Korea Tel: +82-2-584-4766 Fax:+82-2-585-8159 Kookmin Bank Citi Bank-Korea Shinhan Bank |
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Corporate Registered No. |
110111-0202765 |
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Business Registered No. |
220-81-00490 |
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Permit & Licenses |
11/1988 Certified UL (ES, ESG, UXL) 11/1989 Certified JIS (Changwon Factory) 01/1993 ISO 9002 Certified for the first
time in Asia circle 04/1994 Certified ISO 9001 from DNV QA
(Changwon & Kwangju Factory) 10/1997 Certified QS 9000 from DNV QA
(Kwangju Factory) 10/2001 Certified TSE (ES, ESG, VGS, GEX) 12/2003 Certified ISO 14001 (Kwangju
Factory) Int’l Trade No.: 777027 |
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Shareholder Position |
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Company History |
03/2005 Co-presidents
& CEO: Mr. Sang-Woong Lee and Sung-Kyu Kim 02/2004 Changed
English company name to GLOBAL BATTERY CO., LTD. 12/2003 Gwangju
Factory obtained ISO/TS 16949 certificate from FAQ 10/2002 Awarded
KS Top 03/2002 Awarded
by the President on the 36th taxation day 09/2001 Awarded
KS Top 09/2000 Awarded
KS Top 09/1999 Awarded
by ministry of finance & economy on the 33th taxation day 10/1997 Certified
QS from DNV QA (Gwangju Factory) 11/1997 Awarded
US$100 Million Export Top Prize 11/1995 Steel
Tower Industrial Medallion conferred 11/1994 Awarded
the Grand Prize of Industrial Standardization by the president of Korea 11/1994 Operated
Gwangju 2nd factory in Gwangju city 05/1994 Changwon
Factory obtained ISO 9001 04/1994 Gwangju
Factory obtained ISO 9001 07/1993 Changwon
Factory obtained ISO 9002 01/1993 ISO
9002 certified for the first time in Asian circle 12/1992 Grand
Prize for Good Korean, 1992 awarded 11/1992 Prize
for fruitful working environment, 1992 awarded 10/1992 Technical
tie-up with SAFT in France 11/1991 Awarded
US$50 Million Export Top Prize 03/1991 Qrst
class grade acquired 11/1989 Gwagju
plant completed and started 07/1988 Technical
tie-up with Hagen in Germany 03/1987 Bronze
Tower Industrial Medallion conferred on the 21st Taxation Day 11/1983 KS
mark acquired for all the products Manufactured by the company 11/1980 Medallion
conferred for the exporting industry 09/1978 Changed
the company name to GLOBAL & YUASA BATTERY CO., LTD. 04/1975 Technical
and capital tie-up with Yuassa Battery, Inc. in Japan 02/1966 Incorporated
as Jinhae Battery Co., Ltd. 01/1965 Acquired
the KS mark for the automobile batteries for the first time in Korea 07/1961 Changed
its name to JINHAE BATTERY PLANT 09/1952 Juridical
Foundation TECHNIQUE RESEARCH CENTER OF NAVY |
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The Subject Company
is a manufacturer engaged in the provision of storage batteries. The Company
provides three main products: automotive batteries, including standard, marine,
deep cycle and golf cart, heavy-duty commercial and general utility batteries;
motorcycle batteries, such as maintenance-free batteries for motorcycles, and
industrial batteries, which include technical features such as non-spillable
sealed construction, maintenance-free operation, low self-discharge temperature
ranges, high recovery capability, gas recombination and low-pressure venting
systems used for portable various equipment, medical instruments, personal
computers and powered toys. During the year ended December 31, 2007, the
Company had a production capacity of 12,380,000 batteries and its actual output
was 11,082,000 batteries
Management
Job
Description Title Name Nationality Date of Birth Education & Career
Group Chairman Mr. Lee
Eui-Soon Korean 1923.06.12 -
President & CEO Mr. Kim
Sung-Kyu Korean 1951.01.07 Korea
University
Vice President Mr. Yang
Sun-Yeob Korean 1957.11.05 Seoul
National University
Director Mr. Yadma
Koto Japanese 1950.01.24 President
of GS Yuasa Corporation
Director Mr. Sina
Koichi Japanese 1950.10.16 President
of GS Yuasa International
Outside Director Mr. Seo
Seok-Ho Korean 1960.09.08 Seoul
National University
Outside Director Mr. Nakakawa
Yashuo Japanese 1943.12.05 Tokyo
University
Auditor Mr. Sung
Nak-Min Korean 1961.05.20 Seoul
National University
Auditor Mr. Smastu
Tadashi Japanese 1946.12.02 Auditor
of GS Yuasa
Corporation
Financials
|
|
|
|
Unit: KRW |
|
Year |
Sales |
Assets |
Net income |
|
496,287,206,324 |
316,751,081,071 |
18,808,672,221 |
|
|
2006 |
319,529,859,554 |
262,981,942,994 |
11,903,121,305 |
|
2005 |
290,142,246,871 |
250,195,482,138 |
13,893,753,311 |
|
2004 |
276,199,600,962 |
242,430,625,200 |
(-)1,526,412,344 |
|
2003 |
241,426,115,926 |
239,287,200,989 |
4,216,741,858 |
Financial Description
|
|
Unit: KRW |
|
Authorized
Capital |
19,600,000,000 |
|
Paid-Up
Capital |
7,000,000,000 |
|
Total Issues Shares |
14,000,000 |
Balance
Sheet
|
Unit : Korean Won |
01/01/2008~06/30/2008 |
As of 12/31/2007 |
As of 12/31/2006 |
|
Total Assets |
320,494,601,071 |
316,751,081,071 |
262,981,942,994 |
|
Current Assets |
200,398,836,798 |
202,341,038,889 |
150,532,359,267 |
|
-Quick Assets |
113,103,985,057 |
111,492,017,282 |
101,199,410,094 |
|
-Inventories |
87,294,851,741 |
90,849,021,607 |
49,332,949,173 |
|
Fixed Assets |
120,095,764,273 |
114,410,042,182 |
112,449,583,727 |
|
-Investment |
6,341,051,823 |
4,910,087,614 |
3,193,631,922 |
|
-Tangibles |
104,968,607,563 |
102,504,804,669 |
104,917,490,045 |
|
-Intangibles |
5,513,949,017 |
4,583,107,729 |
2,627,232,375 |
|
-Others |
3,272,155,870 |
2,412,042,170 |
1,711,229,385 |
|
Total Liabilities |
106,925,818,012 |
137,654,761,784 |
100,780,725,290 |
|
Current Liabilities |
75,475,379,060 |
108,203,637,951 |
89,594,923,834 |
|
Fixed Liabilities |
31,450,438,952 |
29,451,123,833 |
11,185,801,456 |
|
Capital Stock |
7,000,000,000 |
7,000,000,000 |
7,000,000,000 |
|
Capital Surplus |
66,284,602,045 |
66,284,602,045 |
66,284,602,045 |
|
Profit Surplus |
139,815,941,188 |
105,734,895,155 |
89,026,222,934 |
|
Capital Adjustment |
468,239,826 |
76,822,087 |
-109,607,275 |
|
Total Equity |
213,568,783,059 |
179,096,319,287 |
162,201,217,704 |
|
Liab. & Shareholder’s Equity |
320,494,601,071 |
316,751,081,071 |
262,981,942,994 |
|
Current
Liabilities |
75,475,379,060 |
108,203,637,951 |
89,594,923,834 |
|
Trade Payables |
28,098,088,072 |
31,742,032,891 |
33,609,678,016 |
|
Short-Term Borrowings |
14,600,000,000 |
53,558,163,512 |
28,118,600,000 |
|
Account Payables |
5,174,657,855 |
5,367,803,728 |
5,100,133,939 |
|
Advance Receipts |
7,225,650,636 |
8,079,278,546 |
4,412,971,599 |
|
Unearned Income |
2,505,258 |
30,626,909 |
117,522,759 |
|
Withholdings |
185,701,946 |
418,625,913 |
376,019,204 |
|
Accrued Expenses |
5,152,620,420 |
3,233,819,781 |
2,818,531,813 |
|
Accrued Income Tax |
14,234,705,366 |
5,138,966,565 |
2,424,541,872 |
|
Accrued Dividends |
987,930 |
736,280 |
7,369,049 |
|
Provision for Sales Guarantee |
673,122,577 |
474,134,626 |
465,127,983 |
|
Current Portion of Long-Term Debts |
127,339,000 |
159,449,200 |
12,144,427,600 |
|
Fixed
Liabilities |
31,450,438,952 |
29,451,123,833 |
11,185,801,456 |
|
Debentures |
12,000,000,000 |
12,000,000,000 |
- |
|
Long-Term Borrowings |
918,567,000 |
964,274,900 |
1,123,724,100 |
|
Long-Term Borrowings-Foreign Currency |
7,825,500,000 |
7,036,500,000 |
- |
|
Provision for Severance & Retirement |
26,702,546,628 |
25,432,916,732 |
23,724,113,808 |
|
Long-Term Account payables |
127,471,700 |
118,422,800 |
140,775,400 |
|
Leasehold Deposit Received |
391,840,000 |
373,840,000 |
343,840,000 |
|
Guarantee Deposit Withhold |
101,602,367 |
98,504,367 |
136,684,367 |
Income
Statement
|
Unit : Korean Won |
01/01/2008~06/30/2008 |
As of 12/31/2007 |
As of 12/31/2006 |
|
Sales |
303,700,198,720 |
496,287,206,324 |
319,529,859,554 |
|
Cost of Sold Goods |
228,504,094,565 |
425,040,878,757 |
265,337,026,029 |
|
Gross Profit |
75,196,104,155 |
71,246,327,567 |
54,192,833,525 |
|
Selling & Admin. Expenses |
22,741,745,316 |
41,594,507,378 |
37,093,373,715 |
|
Operating Income |
52,454,358,839 |
29,651,820,189 |
17,099,459,810 |
|
Non-Operating Income |
5,496,291,841 |
4,541,083,302 |
4,314,099,417 |
|
Non-Operating expenses |
7,824,684,542 |
8,861,557,057 |
6,063,379,946 |
|
Ordinary Income |
50,125,966,138 |
25,331,346,434 |
15,350,179,281 |
|
Special Income |
- |
- |
- |
|
Income Before Taxes |
50,125,966,138 |
25,331,346,434 |
15,350,179,281 |
|
Income Taxes Expenses |
13,944,920,105 |
6,522,674,213 |
3,447,057,976 |
|
Net Income |
36,181,046,033 |
18,808,672,221 |
11,903,121,305 |
Cash
Flows
|
Unit : Korean Won |
01/01/2008~06/30/2008 |
As of 12/31/2007 |
As of 12/31/2006 |
|
Cash Flows from Operating |
54,219,591,648 |
(-)36,005,708,586 |
10,954,670,079 |
|
-Net Income |
36,181,046,033 |
18,808,672,221 |
11,903,121,305 |
|
-Exp. without Cash Outflow |
11,362,206,836 |
19,151,179,196 |
19,075,622,282 |
|
-Revenue without Cash Inflows |
(-)1,145,276,812 |
(-)1,292,865,420 |
(-)810,430,117 |
|
-Changes in Asset/ & Liability |
7,821,615,591 |
(-)72,672,694,583 |
(-)19,213,643,391 |
|
Cash Flows from Investing |
(-)11,026,911,248 |
2,294,666,753 |
3,652,491,650 |
|
-Cash Inflow from Investing |
9,105,501,896 |
23,993,090,637 |
66,012,002,819 |
|
-Cash Outflows for Investing |
(-)20,132,413,144 |
(-)21,698,423,884 |
(-)62,359,511,169 |
|
Cash Flows from Financing |
(-)40,772,868,450 |
29,734,059,631 |
(-)13,281,691,320 |
|
-Cash Inflows from Financing |
21,098,000 |
84,042,200,000 |
24,736,982,000 |
|
-Cash Outflows from Financing |
(-)40,793,966,450 |
(-)54,308,140,369 |
(-)38,018,673,320 |
|
Increase/Decrease in Cash |
2,419,811,950 |
(-)3,976,982,202 |
1,325,470,409 |
|
Cash at the Beginning of Year |
5,147,678,784 |
9,124,660,986 |
7,799,190,577 |
|
Cash at the End of Year |
7,567,490,734 |
5,147,678,784 |
9,124,660,986 |
Products, Technologies, Services Description
|
Main
Products & Services |
-Batteries for Automotive SMF(Sealed Calcium MF Battery) Eb Type Marine Type Deep Cycle & Golf Car Heavy Duty Commercial including Tractor-trailers,
bus, Farm and construction equipment General Utility - Batteries for Motor Cycle Brand Name: ROCKET |
Trade
Partners
|
Suppliers |
KOREA ZINC CO., LTD. ADDRESS: 13F YOUNGPUNG BD 142 NONHYEONDONG
GANGNAM-KU SEOUL 135-749 SOUTH KOREA TEL: 82-2-519-3416 FAX: 82-2-549-8245 GLOBAL INDUSTRIAL CO., LTD. ADDRESS: 827-6 GWANYANG-DONG, DONGAN-KU,
ANYANG-SI, GYEONGGI-DO 431-804 SOUTH KOREA TEL: 82-31-422-8781 FAX: 82-31-422-6567 |
|
Customers |
HYUNDAI MOTOR COMPANY 231, YANGJAE-DONG, SEOCHO-KU, SEOUL 137-130
SOUTH KOREA TEL: 82-2-3464-1114 FAX: 82-2-3464-3469 KIA MOTORS CORPORATION 231, YANGJAE-DONG, SEOCHO-KU, SEOUL 137-130
SOUTH KOREA TEL: 82-2-3464-1114 FAX: 82-2-3464-6800 SSANGYONG MOTOR COMPANY LTD. 150-3, CHILGOE-DONG, PYEONGTAEK-SI,
GYEONGGI-DO 459-711 SOUTH KOREA TEL: 82-31-610-1114 FAX: 82-31-610-3700 LG TELECOM CO., LTD. 20F LG GANGNAM TOWER 679 YEOKSAM-DONG
GANGNAM-KU SEOUL 135-985 SOUTH KOREA TEL: 82-2-2005-7114 FAX: 82-2-2005-7337 HANARO TELECOM INC. SHINDONG-A FIRE INSURANCE CO., BLDG., 43,
TAEPYEONGNO 2-GA, JUNG-KU, SEOUL 100-733 SOUTH KOREA TEL: 82-2-6266-5500 FAX: 82-2-6266-4389 SK TELECOM CO., LTD. 11, EULJIRO 2-GA, JUNG-KU, SEOUL 100-844
SOUTH KOREA TEL: 82-2-6100-2114 FAX: 82-2-6100-7950 DAEWOO BUS CORPORATION 188-9, JEONPO 1-DONG, BUSANJIN-KU, BUSAN
614-866 SOUTH KOREA TEL: 82-51-811-4114 FAX: 82-51-811-4044 VOLVO TRUCK KOREA CO., LTD. 8F, VOLVO BLDG., 726-173, HANNAM-DONG,
YONGSAN-KU, SEOUL 140-210 SOUTH KOREA TEL: 82-2-3780-8400 FAX: 82-2-795-9683 SAMSUNG ELECTRONICS CO., LTD. 416, MAETAN-DONG, YEONGTONG-KU, SUWON-SI,
GYEONGGI-DO 443-370 SOUTH KOREA TEL: 82-31-200-1114 FAX: 82-31-200-1105 |
|
Competitors |
HYUNDAI ENERCELL CO.,LTD(131111-0003043) 8TH FL., I`PARK TOWER, 160, SAMSEONG
1-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-2008-8685 FAX:+82-2-2008-8680 ATLASBX CO.,LTD(160111-0003486) 40-42, DAEHWA-DONG, DAEDEOK-GU, DAEJEON,
KOREA TEL:+82-42-620-4242 FAX:+82-42-623-9380 DELCO BATTERY CO., LTD. (*) The Subject's domestic M/S is about
41.4%, and ranks as 1st player. |
Related Parties (Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
SEBANG CO., LTD(180111-0015932) (0.65% held by the subject company) SEBANG HI-TECH CO., LTD(110111-1392060) KOREA MARINE TRANSPORT CO.,
LTD(110111-0029838 ) INTERCONTINENTAL SHIPPING CO., LTD.
(110111-0131823 ) UNIVERSAL SHIPPING CO., LTD(110111-0198708) OVERSEAS AIRCARGO SERVICE CO.,
LTD(110111-0107139 ) BUSAN INTERNATIONAL CONTAINER
TERMINAL(180111-0525858) GWANGYANG INTERNATIONAL CONTAINER
TERMINAL(204611-0022029) GLOBAL INDUSTRIAL CO., LTD.(134111-0002612) GLOBAL EXPRESS CO. LTD.(110111-0007602) SDH INTERNATIONAL LOGISTICS CO., LTD. SEBANG GWANGYANG INTERNATIONAL LOGISTICS
CO., LTD. MOKPO DAEBUL PORT OPEARTING CO., LTD. |
|
Cooperative Enterprise |
-Insured Company LIG INSURANCE CO., LTD(110111-0017859) |
Sales by
Region (Activity &
Markets)
|
Sales/ Unit
:Mil KRW |
2007 |
2006 |
2005 |
|
Export |
273,389 |
138,888 |
129,507 |
|
Domestic |
222,898 |
180,642 |
160,635 |
|
Total |
496,287 |
319,530 |
290,142 |
The Subject exports to Europe, North America, Central & South
America, Caribbean Islands, Southeast Asia, China, HK, Taiwan, Mongolia, Middle
East, Southwest Asia, Africa, Russia and CIS nations.
Court
Action
No.
News
Clipping
---
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.25 |
|
UK Pound |
1 |
Rs.80.36 |
|
Euro |
1 |
Rs.62.84 |
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%)