MIRA
INFORM REPORT
|
Report Date : |
05.11.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SAMIL ELTEC CO., LTD. |
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|
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Registered Office : |
127-6, Gujang-ri, Paltan-myeon, Hwaseong-si, Gyeonggi-do 445-915 |
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Country : |
Korea |
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|
|
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Financials (as on) : |
31.12.2007 |
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|
|
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Date of Incorporation : |
24.02.1992 |
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Com. Reg. No.: |
138-81-10699 |
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|
|
Legal Form : |
Company Limited by Shares |
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|
|
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Line of Business : |
Manufacture of Boards for Electric Control or Distribution |
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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|
|
|
Payment Behaviour : |
No Complaints |
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|
|
|
Litigation : |
Clear |
Basic
|
Company
Name |
SAMIL ELTEC CO.,
LTD. |
|
Registered Address |
127-6, Gujang-ri, Paltan-myeon,
Hwaseong-si, Gyeonggi-do, Korea |
|
Zip Code |
445-915 |
|
Tel |
+82-31-353-3131 |
|
Fax |
+82-31-354-3153 |
|
E-mail |
xiexie@samileltec.co.kr |
|
Website |
www.samileltec.co.kr |
|
Trading Address |
127-6, Gujang-ri, Paltan-myeon,
Hwaseong-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-353-3131 |
|
Fax |
+82-31-354-3153 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Boards for Electric Control or Distribution |
|
Main Business |
Elevator Controller, Elevator System, Elevator Inverter |
|
Established (mm/dd/yyyy) |
02/24/1992 |
The Subject owns
the premises of registered HQ address (4,741㎡).
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Renovation of buildings or landmarks or
monuments(72102801) |
|
Sell |
Forklift or elevator accessories or supplies(24101629) |
|
Sell |
Synchronous motors(26101609) |
|
Buy |
Switches and controls and relays and
accessories(39121500) |
|
Buy |
Circuit protection devices and
accessories(39121600) |
|
Buy |
Electrical insulators(39121721) |
|
Buy |
Central processing unit CPU
processors(43201503) |
|
Buy |
System boards processors interfaces or
modules(43201500) |
|
Buy |
Inductors(32121702) |
|
Buy |
Integrated circuits(32101600) |
|
Buy |
Resistors(32121600) |
|
Buy |
Silicone VMQ and PMQ and PVMQ(13101708) |
|
Buy |
Power supply transformers(39121002) |
|
Buy |
Electrical or power regulators(39121009) |
|
Buy |
Magnetic coils(39121010) |
|
Buy |
Diodes(32111500) |
|
Buy |
Light emitting diodes LEDs(32111503) |
|
Buy |
Capacitors(32121500) |
|
Buy |
Inverters(32121705) |
CEO’s
|
Name |
Lee Yang-Won |
|
Address |
1088, Sanbon-dong, Gunpo-si, Gyeonggi-do, Korea |
|
Date of Birth |
12/28/1953 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital |
1,799,985,000 KRW |
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Employees |
54 |
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Formation |
Co., Ltd by shares |
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Bank Details |
Industrial Bank of Korea-Pyungchon Branch Kookmin Bank |
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Corporate Registered No. |
110111-0837463 |
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Business Registered No. |
138-81-10699 |
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Permit & Licenses |
10/2000 ISO 9001 Int’l Trade No.: 11178936 |
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Shareholder Position |
(*) This list is based as of 12/31/2007. |
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Company History |
03/30/2008 Increased capital to
1,799,985,000KRW from 1,471,490,000 KRW 03/30/2007 Increased capital to
1,471,490,000 KRW from 1,350,000,000 KRW 03/30/2005 Increased capital to 1,350,000,000
KRW from 900,000,000 KRW 03/29/2004 Increased capital to
900,000,000 KRW from 600,000,000 KRW 11/2001 Completed in developing the Voice
Synthesizer, VSB100 11/2001 Award for a million dollar
exportation, presented by Korea Trade Association 09/2001 Completed in developing the Door
Drive, DC-200 08/2001 Established the Corporation :
TORIN-SAMIL in China 02/2001 Completed in developing Domestic
& International Telecommunication Networking System RCS-2000 10/2000 Qualified ISO9001 09/2000 Completed in developing
SICON-2000Ci 06/2000 Established the Corporation :
SAMIL JAPAN in Japan 05/2000 Completed in developing SICON-CIV 03/2000 Established Interlift Co., Ltd.
for B2B 03/2000 Changed the company name to the
present name 01/2000 Completed in developing SICON-CIII 11/1999 Registered the trademark right for
SICON-CII, SICON-2000 and ELEVERT 01/1999 Won the prize as the Best Small
and Medium Enterprise of Gyeonggi Prov. 12/1998 Established the R&D Center 10/1998 Completed in developing SICON-2000
& Vector Inverter 07/1996 Started to export to JAPAN,
MALAYSIA AND SINGAPORE 05/1994 Completed in developing SICON-CII 02/24/1992 Established SAMIL Instrument
Incorporation |
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Day |
|
President & CEO |
Mr. |
Lee Yang-Won |
Male |
Korean |
03/30/2005 |
|
Director |
Mr. |
Jung Young-Ae |
Male |
Korean |
03/30/2005 |
|
Director |
Mr. |
Yu Seung-Ryeol |
Male |
Korean |
03/30/2005 |
|
Auditor |
Mr. |
Lee Hee-Deok |
Male |
Korean |
03/30/2007 |
Financials
Unit: KRW
|
Year |
Sales |
Assets |
Net income |
|
12,472,547,885 |
10,532,622,233 |
1,830,992,753 |
|
|
2006 |
10,830,015,666 |
9,880,004,523 |
1,223,602,271 |
|
2005 |
10,655,109,841 |
7,830,531,809 |
776,968,676 |
|
2004 |
10,119,675,643 |
7,656,568,423 |
1,260,669,003 |
|
2003 |
12,472,547,885 |
10,532,622,233 |
1,830,992,753 |
Financial Description
Unit: KRW
|
Authorized
Capital |
2,400,000,000 |
|
Paid-Up
Capital |
1,799,985,000 |
|
Total Issues Shares |
359,997 |
Balance
Sheet
|
Unit : Korean Won |
As of 12/31/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Total Assets |
10,532,622,233 |
9,880,004,523 |
7,830,531,809 |
|
Current Assets |
6,266,292,084 |
5,270,402,898 |
4,379,921,906 |
|
-Quick Assets |
5,426,412,999 |
4,346,173,106 |
3,851,053,910 |
|
-Inventories |
839,879,085 |
924,229,792 |
528,867,996 |
|
Fixed Assets |
4,266,330,149 |
4,609,601,625 |
3,450,609,903 |
|
-Investment |
2,097,068,380 |
2,227,142,492 |
801,254,696 |
|
-Tangibles |
2,147,193,769 |
2,378,703,133 |
2,490,104,591 |
|
-Intangibles |
22,056,000 |
3,744,000 |
159,250,616 |
|
-Others |
12,000 |
12,000 |
- |
|
Total Liabilities |
4,731,257,584 |
5,553,175,889 |
4,341,833,045 |
|
Current Liabilities |
3,944,707,683 |
4,852,529,177 |
3,233,397,442 |
|
Fixed Liabilities |
786,549,901 |
700,646,712 |
1,108,435,603 |
|
Capital Stock |
1,471,490,000 |
1,350,000,000 |
1,350,000,000 |
|
Capital Surplus |
- |
- |
- |
|
Profit Surplus |
4,281,626,442 |
3,059,411,314 |
2,138,698,764 |
|
Capital Adjustment |
48,248,207 |
(-)82,582,680 |
- |
|
Total Equity |
5,801,364,649 |
4,326,828,634 |
3,488,698,764 |
|
Liab. &
Shareholder’s Equity |
10,532,622,233 |
9,880,004,523 |
7,830,531,809 |
|
Current
Liabilities |
3,944,707,683 |
4,852,529,177 |
3,233,397,442 |
|
Trade Payables |
1,306,919,377 |
1,986,064,561 |
1,091,382,458 |
|
Account Payables |
132,864,972 |
142,935,960 |
78,314,213 |
|
Withholdings |
55,379,588 |
41,687,239 |
36,373,442 |
|
VAT Withhold |
21,774,372 |
- |
40,000,000 |
|
Advance Receipts |
19,411,068 |
5,618,000 |
2,210,577 |
|
Short-Term Borrowings |
2,241,662,100 |
2,371,107,100 |
1,700,000,000 |
|
Accrued Income Tax |
95,983,392 |
- |
23,413,105 |
|
Accrued Expenses |
4,072,814 |
3,264,705 |
3,905,347 |
|
Current Portion of Long-Term Borrowings |
66,640,000 |
301,851,612 |
257,798,300 |
|
Fixed
Liabilities |
786,549,901 |
700,646,712 |
1,108,435,603 |
|
Long-Term Borrowings |
266,660,000 |
115,430,000 |
466,042,420 |
|
Provision for Severance & Retirement |
1,127,609,900 |
864,215,909 |
757,773,688 |
|
Leasehold Deposit Received |
20,000,000 |
40,000,000 |
- |
Income
Statement
|
Unit : Korean Won |
As of 12/31/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Sales |
12,472,547,885 |
10,830,015,666 |
10,655,109,841 |
|
Cost of Sold Goods |
8,356,672,780 |
7,302,269,058 |
6,946,282,194 |
|
Gross Profit |
4,115,875,105 |
3,527,746,608 |
3,708,827,647 |
|
Selling & Admin. Expenses |
3,276,862,581 |
2,810,576,568 |
2,728,044,692 |
|
Operating Income |
839,012,524 |
717,170,040 |
980,782,955 |
|
Non-Operating Income |
1,396,895,496 |
956,615,348 |
160,898,702 |
|
Non-Operating expenses |
305,957,125 |
450,183,117 |
340,693,286 |
|
Ordinary Income |
1,929,950,895 |
1,223,602,271 |
800,988,371 |
|
Special Income |
|
|
- |
|
Income Before Taxes |
1,929,950,895 |
1,223,602,271 |
800,988,371 |
|
Income Taxes Expenses |
98,958,142 |
- |
24,019,695 |
|
Net Income |
1,830,992,753 |
1,223,602,271 |
776,968,676 |
Cash
Flows
|
Unit : Korean Won |
As of 12/31/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Cash Flows from Operating |
1,000,071,318 |
812,906,828 |
1,240,867,079 |
|
-Net Income |
1,830,992,753 |
1,223,602,271 |
776,968,676 |
|
-Exp. without Cash Outflow |
877,311,014 |
758,461,909 |
674,951,042 |
|
-Revenue
without Cash Inflows |
(-)1,236,979,472 |
(-)845,328,127 |
(-)71,323,248 |
|
-Changes in
Asset/ & Liability |
(-)471,252,977 |
(-)323,829,225 |
(-)139,729,391 |
|
Cash Flows from Investing |
(-)619,188,509 |
(-)648,896,751 |
(-)556,954,220 |
|
-Cash Inflow from Investing |
2,250,255,038 |
700,150,000 |
664,981,237 |
|
-Cash
Outflows for Investing |
(-)2,869,443,547 |
(-)1,349,046,751 |
(-)1,221,935,457 |
|
Cash Flows from Financing |
(-)546,981,612 |
8,308,800 |
(-)569,896,580 |
|
-Cash
Inflows from Financing |
270,000,000 |
1,403,863,800 |
200,000,000 |
|
-Cash
Outflows from Financing |
(-)816,981,612 |
(-)1,395,555,000 |
(-)769,896,580 |
|
Increase/Decrease
in Cash |
(-)166,098,803 |
172,318,877 |
114,016,279 |
|
Cash at the
Beginning of Year |
516,860,477 |
344,541,600 |
230,525,321 |
|
Cash at the End of Year |
350,761,674 |
516,860,477 |
344,541,600 |
Products, Technologies, Services
Description
|
Main
Products & Services |
Elevator Controller & System Elevator Inverter Control Panel Synchronous Motor |
|
Facilities-Tower |
Height 34M P15-CO105-10S VVVF 1 PM Roomless 1 |
Trade
Partners
|
Competitors |
HYEON DAE CO., LTD 102-705, CHUNUI TECHNOPARK, 200-1,
CHUNUI-DONG, WONMI-GU, BUCHEON-SI, GYEONGGI-DO, KOREA TEL:+82-32-662-9644~5 FAX:+82-32-662-9646 CHUNG WOO SYSTEM CO. C-3407, DONG-IL TECHNO TOWN, 889-1,
GWANYANG 2-DONG, DONGAN-GU, ANYANG-SI, GYEONGGI-DO, KOREA TEL:+82-31-425-2391 FAX:+82-31-425-2396 YESUNG ELECTRONICS CO. 2ND FL., 327-4, DANGJEONG-DONG, GUNPO-SI,
GYEONGGI-DO, KOREA TEL:+82-31-455-7688 FAX:+82-31-455-7690 |
Related Parties (Subsidiaries,
Joint-Venture & Affiliates)
|
Joint Venture |
TORIN-SAMIL ELECTRONICS CO., LTD.-CHINA (51.7% held by the subject company) SAMIL JAPAN CO., LTD.-JAPAN (15.0% held by the subject company) |
|
Subsidiary |
CHANGSOO SAMIL CO., LTD-CHINA (100.0% held by the subject company) |
|
Cooperative Enterprise |
-Insured Company DONGBU INSURANCE CO., LTD(110111-0095285) |
Sales by
Region (Activity &
Markets)
|
Sales/ Unit : KRW |
2007 |
2006 |
2005 |
|
Export |
6,425,495,552 |
6,434,906,856 |
4,905,918,028 |
|
Domestic |
6,047,052,333 |
4,395,108,810 |
5,749,191,813 |
|
Total |
12,472,547,885 |
10,830,015,666 |
10,655,109,841 |
The Subject exports to China, Japan, Saudi Arabia and South East Asia.
Court
Action
No.
News
Clipping
--
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.18 |
|
UK Pound |
1 |
Rs.75.05 |
|
Euro |
1 |
Rs.60.89 |
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%)