MIRA
INFORM REPORT
|
Report Date : |
05.11.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SAMWON INDUSTRIAL CO., LTD. |
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Registered Office : |
785-8, Wonsi-dong, Danwon-gu, Ansan-si, Gyeonggi-do 425-852 |
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Country : |
Korea |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
16.09.1980 |
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Com. Reg. No.: |
134-81-06403 |
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Legal Form : |
Company Limited by Shares |
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Line of Business : |
Manufacture of Surface-Active Agents |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Basic
|
Company
Name |
SAMWON
INDUSTRIAL CO., LTD. |
|
Registered Address |
785-8, Wonsi-dong, Danwon-gu, Ansan-si,
Gyeonggi-do, Korea |
|
Zip Code |
425-852 |
|
Tel |
+82-31-491-7881 |
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Fax |
+82-31-491-0449 |
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E-mail |
research@samwon21.com |
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Website |
www.samwon21.com |
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Trading Address |
4Fl., Samwon Bldg., 699-12, Gojan-dong, Danwon-gu,
Ansan-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-491-7884 |
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Fax |
+82-31-491-0449 |
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Type |
Export/Import |
|
Industry |
Manufacture of Surface-Active Agents |
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Main Business |
Fluorescent Dyes, Fluorescent Brightener |
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Sub Business |
Manufacture of Synthetic Coloring Matter, Tanning Materials and Other
Coloring Agents |
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Established (mm/dd/yyyy) |
09/16/1980 |
The Subject owns
the premises of registered HQ address(6,832.25㎡).
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Fluorescent dyes(12171501) |
|
Buy |
Alcohols or its substitutes(12352104) |
|
Buy |
Chemistry reagents or solutions(41116105) |
|
Buy |
Amines or imines or its
substitutes(12352116) |
|
Buy |
Organic derivatives and substituted
compounds(12352100) |
|
Buy |
Additives(12160000) |
|
Buy |
Dispersing agents(12161904) |
|
Buy |
Inorganic metal salts(12352302) |
|
Buy |
Cooking or table salt(50171551) |
CEO’s
|
Name |
Ham Gyeong-Woo |
|
Address |
741, Choji-dong, Danwon-gu, Ansan-si,
Gyeonggi-do, Korea |
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Date of Birth |
05/04/1950 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
|
Capital |
1,250,000,000 KRW |
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Employees |
58 |
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Formation |
Co., Ltd by shares Venture Business |
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Bank Details |
Industrial Bank of Korea Woori Bank-Seosomun Branch |
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Corporate Registered No. |
130111-0008143 |
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Business Registered No. |
134-81-06403 |
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Permit & Licenses |
Patent for Fluorescent Whitening Agent and
Process of producing thereof -1 Patent for Fluorescent Whitening Agent and
Process of producing thereof -2 Patent for Anti-oxidation OBA -2 06/29/2002 ISO 9001 Int’l Trade No.: 522014 |
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Shareholder Position |
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Company History |
07/15/2008 Designated as a Venture
Business again 07/15/2007 Designated as a Venture
Business again 07/15/2006 Designated as a Venture
Business 05/24/2006 Selected as a technology
innovation company (INNO-BIZ Approval), fine chemistry for innovative
technology 06/03/2005 Designated as a specialized
company in parts and materials by the Ministry of Commerce 12/23/2002 Increased capital to
1,250,000,000 KRW from 650,000,000 KRW 10/12/2002 Increased capital to
650,000,000 KRW from 500,000,000 KRW 09/03/2002 Increased capital to
500,000,000 KRW from 400,000,000 KRW 08/30/2002 Increased the authorized shares
to 5,000,000 shares from 128,000 shares 06/01/2002 ISO 9001 certificate 02/01/2000 Designated as a Company with
Technology Competitiveness 10/16/1998 Designated as a Venture Company
(by the Small and Medium Business Administration) 05/22/1998 Founded the R&D Center 05/02/1998 Designated as a Company with
Promising Technology (by the Small and Medium Business Administration) 05/13/1994 Awarded the Steel Tower Medal
(by Prime Minister) 04/21/1986 Awarded the Industrial
Commendation (by the Ministry of Government Administration) 10/02/1985 Partnership with KIBO
(Investment: \ 200 million) 04/30/1985 Completed Banwol plant 12/14/1983 Applied new technologies 07/19/1983 Designated as a promising small
and medium-sized company (by the Ministry of Science and Technology) 02/24/1982 Joint research with the Korea
Research Institute of Chemical Technology 09/16/1980 Incorporated as the present
name 08/15/1975 Completed Bucheon plant 01/01/1971 Established as Samwon Corporation
(Sole Proprietorship) |
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Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Day |
|
President & CEO |
Mr. |
Ham Gyeong-Woo |
Male |
Korean |
04/03/2002 |
|
Director |
Mr. |
Lee Jong-Man |
Male |
Korean |
03/20/2001 |
|
Director |
Mr. |
Kim Hong-Soo |
Male |
Korean |
03/22/2006 |
|
Auditor |
Mr. |
Jung Jo-Hee |
Male |
Korean |
03/22/2007 |
Financials
Unit: KRW
|
Year |
Sales |
Assets |
Net income |
|
17,613,668,271 |
11,511,272,450 |
393,062,944 |
|
|
2006 |
18,567,598,111 |
11,028,212,189 |
881,612,572 |
|
2005 |
17,606,840,183 |
11,327,844,503 |
494,116,544 |
|
2004 |
14,773,920,943 |
10,294,316,513 |
228,016,607 |
|
2003 |
13,085,071,912 |
10,100,185,406 |
388,024,660 |
Financial Description
Unit: KRW
|
Authorized
Capital |
25,000,000,000 |
|
Paid-Up
Capital |
1,250,000,000 |
|
Total Issues Shares |
250,000 |
Balance
Sheet
|
Unit : Korean Won |
As of 12/31/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Total Assets |
11,511,272,450 |
11,028,212,189 |
11,327,844,503 |
|
Current Assets |
7,814,074,723 |
6,992,517,229 |
7,559,276,792 |
|
-Quick Assets |
5,171,741,885 |
4,736,878,026 |
5,097,475,242 |
|
-Inventories |
2,642,332,838 |
2,255,639,203 |
2,461,801,550 |
|
Fixed Assets |
3,697,197,727 |
4,035,694,960 |
3,768,567,711 |
|
-Investment |
162,600,000 |
214,600,000 |
646,808,090 |
|
-Tangibles |
3,046,469,985 |
3,170,776,217 |
3,109,154,997 |
|
-Intangibles |
10,395,022 |
13,165,823 |
12,604,624 |
|
-Others |
477,732,720 |
637,152,920 |
- |
|
Total Liabilities |
3,573,101,607 |
3,383,104,290 |
4,501,849,176 |
|
Current Liabilities |
2,059,929,360 |
1,877,121,739 |
2,597,823,140 |
|
Fixed Liabilities |
1,513,172,247 |
1,505,982,551 |
1,904,026,036 |
|
Capital Stock |
1,250,000,000 |
1,250,000,000 |
1,250,000,000 |
|
Capital Surplus |
- |
- |
- |
|
Profit Surplus |
6,688,170,843 |
6,395,107,899 |
5,575,995,327 |
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Capital Adjustment |
- |
- |
- |
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Total Equity |
7,938,170,843 |
7,645,107,899 |
6,825,995,327 |
|
Liab. &
Shareholder’s Equity |
11,511,272,450 |
11,028,212,189 |
11,327,844,503 |
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Current
Liabilities |
2,059,929,360 |
1,877,121,739 |
2,597,823,140 |
|
Trade Payables |
893,810,321 |
618,295,682 |
1,159,986,478 |
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Short-Term Borrowings |
300,000,000 |
100,000,000 |
289,208,800 |
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Account Payables |
591,054,060 |
469,057,682 |
505,102,240 |
|
Advance Receipts |
48,493,738 |
50,510,294 |
16,079,504 |
|
Withholdings |
25,170,529 |
34,037,640 |
53,973,680 |
|
Accrued Expenses |
780,821 |
- |
4,029,961 |
|
Accrued Income Tax |
78,119,891 |
155,220,441 |
134,008,867 |
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Current Portion of Long-Term Debts |
122,500,000 |
450,000,000 |
435,433,610 |
|
Fixed
Liabilities |
1,513,172,247 |
1,505,982,551 |
1,904,026,036 |
|
Long-Term Borrowings |
242,500,000 |
412,500,000 |
1,100,263,420 |
|
Provision for Severance & Retirement |
1,346,678,530 |
1,166,740,177 |
874,392,548 |
Income
Statement
|
Unit : Korean Won |
As of 12/31/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Sales |
17,613,668,271 |
18,567,598,111 |
17,606,840,183 |
|
Cost of Sold Goods |
13,489,714,480 |
13,968,548,420 |
13,420,447,355 |
|
Gross Profit |
4,123,953,791 |
4,599,049,691 |
4,186,392,828 |
|
Selling & Admin. Expenses |
3,351,339,502 |
3,459,820,884 |
3,433,796,450 |
|
Operating Income |
772,614,289 |
1,139,228,807 |
752,596,378 |
|
Non-Operating Income |
166,746,308 |
230,956,527 |
129,479,347 |
|
Non-Operating expenses |
178,436,872 |
254,597,381 |
217,256,164 |
|
Ordinary Income |
760,923,725 |
1,115,587,953 |
664,819,561 |
|
Special Income |
- |
- |
- |
|
Income Before Taxes |
760,923,725 |
1,115,587,953 |
664,819,561 |
|
Income Taxes Expenses |
367,860,781 |
233,975,381 |
170,703,017 |
|
Net Income |
393,062,944 |
881,612,572 |
494,116,544 |
Cash
Flows
|
Unit : Korean Won |
As of 12/31/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Cash Flows from Operating |
830,812,337 |
1,545,141,592 |
1,205,495,150 |
|
-Net Income |
393,062,944 |
881,612,572 |
494,116,544 |
|
-Exp. without Cash Outflow |
912,839,344 |
1,093,025,478 |
992,100,357 |
|
-Revenue
without Cash Inflows |
(-)52,809,820 |
(-)14,371,322 |
(-)29,946,028 |
|
-Changes in
Asset/ & Liability |
(-)422,280,131 |
(-)415,125,136 |
(-)250,775,723 |
|
Cash Flows
from Investing |
(-)158,091,721 |
(-)821,816,577 |
(-)779,313,018 |
|
-Cash Inflow
from Investing |
639,576,570 |
257,923,758 |
450,498,431 |
|
-Cash
Outflows for Investing |
(-)797,668,291 |
(-)1,079,740,335 |
(-)1,229,811,449 |
|
Cash Flows from Financing |
(-)397,500,000 |
(-)924,905,830 |
(-)319,399,830 |
|
-Cash
Inflows from Financing |
490,000,000 |
300,000,000 |
896,240,000 |
|
-Cash
Outflows from Financing |
(-)887,500,000 |
(-)1,224,905,830 |
(-)1,215,639,830 |
|
Increase/Decrease
in Cash |
275,220,616 |
(-)201,580,815 |
106,782,302 |
|
Cash at the
Beginning of Year |
395,833,190 |
597,414,005 |
490,631,703 |
|
Cash at the End of Year |
671,053,806 |
395,833,190 |
597,414,005 |
Products, Technologies, Services
Description
|
Main
Products & Services |
Fluorescent Brightener-Agent that brightens chemically-bleached
textile Brand Name : THREETEX, THREEPHOR, THREESORB, OPTABIAD |
Trade
Partners
|
Suppliers |
WOORI FINANCIAL CO., LTD(130111-0013499)
provides vehicle lease service to the subject company. |
|
Competitors |
BUM JIN INDUSTRIAL CO., LTD. 268, GYEREUK-RI, MIYANG-MYEON, ANSEONG-SI,
GYEONGGI-DO, KOREA TEL:+82-31-677-0033 FAX:+82-31-677-8229 |
Sales by
Region (Activity &
Markets)
|
Sales/ Unit :Mil KRW |
2007 |
2006 |
2005 |
|
Export |
6,333,214,843 |
6,399,558,359 |
6,324,744,705 |
|
Domestic |
10,932,839,313 |
11,882,562,225 |
10,977,517,862 |
|
Others |
347,614,115 |
285,477,527 |
304,577,616 |
|
Total |
17,613,668,271 |
18,567,598,111 |
17,606,840,183 |
The Subject deals with the companies in China, Iran, Japan, Vietnam,
Swiss, Egypt and USA.
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%)