MIRA
INFORM REPORT
|
Report Date : |
16.09.2008 |
IDENTIFICATION
DETAILS
|
Name : |
NUNGWON METAL IND. CO., LTD |
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Registered Office : |
314-1, Doha-ri, Eunhyeon-myeon, Yangju-si,
Gyeonggi-do, 482-861 |
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Country : |
Korea |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
04.30.1996 |
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Com. Reg. No.: |
127-81-65699 |
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Legal Form : |
Company Limited by Shares |
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Line of Business : |
Manufacture of Rolled, Drawn and Folded Products of Copper |
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 |
|
Status : |
Good |
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|
|
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Payment Behaviour : |
Regular |
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Litigation : |
Exists |
Basic
|
Company
Name |
NUNGWON METAL
IND. CO., LTD. |
|
Registered Address |
314-1, Doha-ri, Eunhyeon-myeon, Yangju-si,
Gyeonggi-do, Korea |
|
Zip Code |
482-861 |
|
Tel |
+82-31-863-8791 |
|
Fax |
+82-31-863-8794 |
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E-mail |
Info@jnmetal.co.kr |
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Website |
www.nwmetal.co.kr |
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Trading Address |
Nungdo B/D #100-23, Shinseol-Dong,
Dongdaemoon-Gu, Seoul, Korea |
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Tel |
+82-2-2254-2584~5 |
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Fax |
+82-2-2231-9055 |
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Type |
Export/Import |
|
Industry |
Manufacture of Rolled, Drawn and Folded Products of Copper |
|
Main Business |
Copper Tube, Level Wound Coil, Refrigeration & ACR Tubes |
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Established (mm/dd/yyyy) |
04/30/1996 |
The Subject owns
the premises of registered HQ address(55,734㎡).
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Copper tubing(31231302) |
CEO’s
|
Name |
Lee Kwang-Won |
|
Address |
1446-11, Seocho-dong ,Seocho-gu, Seoul, Korea |
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Date of Birth |
05/09/1949 |
|
Title |
President & CEO |
|
Sex |
Male |
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Nationality |
Korean |
Profiles
|
Capital |
11,800,000,000 KRW |
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Employees |
334 |
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Formation |
Co., Ltd by shares |
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Bank Details |
Industrial Bank of Korea-HQ Korea Development Bank Korea Exchange Bank Shinhan Bank |
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Corporate Registered No. |
111511-0021877 |
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Business Registered No. |
127-81-65699 |
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Permit & Licenses |
05/1994 KS Mark 02/1996 KS Mark 05/1997 ISO 9002 06/1999 JIS 07/2003 ISO 9001 Int’l Trade No.: 11182263 |
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Shareholder Position |
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Company History |
03/1986 Established as "DONGKWANG
METAL CO."(produced Seamless Copper Water Tubes) 01/1989 Corporate name changed to
"SHIN HAN METAL IND.CO." 11/1993 Plant moved to " #314-1 DOHA-RI,
EUNHYUN-MYEON YANGJU-SI, KYEONGGI-DO, KOREA 07/1994 Appointed as regional industrial
complex 10/1995 Seoul Office established : NUNGDO
BLDG., SHINSEOL-DONG, DONGDAEMOON-GU, SEOUL, KOREA 03/1996 Incorporated as the present name 01/2000 Awarded “Exporting USD 10 Million
Sales” 04/11/2000 Acquired Geosan Metal Co., Ltd. 12/2000 Increased Capital (from 105
Million Won to 118 Million Won) 11/2004 Awarded “Exporting USD 30 Million
Sales” by Ministry of Commerce Industry and Energy 10/2005 Awarded Gold Medal for “Korea Best
Practice Skill Contest” 06/2006 Awarded prize for “Honorable
industrial safety supervisor" 07/2006 Completed Automatic Equipment at 2nd plant 09/2006 Awarded Gold Prize for “2006
Quality Management Contest in Korea" 11/2006 Awarded "Prime Minister's
Prize" & “Exporting USD 70 Million Sales” by Ministry of Commerce
Industry and Energy |
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Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Day |
|
President & CEO |
Mr. |
Lee Kwang-Won |
Male |
Korean |
04/30/1999 |
|
Director |
Mr. |
Park Hong-Moon |
Male |
Korean |
12/15/2003 |
|
Director |
Mr. |
Lee Ju-Hyun |
Male |
Korean |
07/18/2005 |
|
Auditor |
Mr. |
Yoon Hee-Jung |
Male |
Korean |
03/26/2001 |
|
Supervisor |
Mr. |
Hong Sung-Ok |
Male |
Korean |
03/28/2007 |
Financials
Unit: KRW
|
Year |
Sales |
Assets |
Net income |
|
299,239,613,902 |
123,253,952,812 |
2,327,492,093 |
|
|
2006 |
236,870,357,172 |
109,275,993,523 |
6,967,887,513 |
|
2005 |
153,784,176,739 |
86,335,567,216 |
3,200,825,280 |
|
2004 |
138,282,897,978 |
65,541,757,409 |
5,238,326,721 |
|
2003 |
96,730,809,857 |
55,040,667,963 |
3,084,198,709 |
Financial Description
Unit: KRW
|
Authorized
Capital |
22,000,000,000 |
|
Paid-Up Capital |
11,800,000,000 |
|
Total Issues Shares |
1,180,000 |
Balance
Sheet
|
Unit : Korean Won |
As of 12/31/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Total Assets |
123,253,952,812 |
109,275,993,523 |
86,335,567,216 |
|
Current Assets |
76,134,448,167 |
67,176,603,203 |
52,043,156,888 |
|
-Quick Assets |
48,031,855,499 |
40,154,274,413 |
36,656,852,954 |
|
-Inventories |
28,102,592,668 |
27,022,328,790 |
15,386,303,934 |
|
Fixed Assets |
47,119,504,645 |
42,099,390,320 |
34,292,410,328 |
|
-Investment |
3,489,600,000 |
3,441,055,000 |
5,287,409,829 |
|
-Tangibles |
42,331,320,406 |
37,551,916,081 |
29,005,000,499 |
|
-Intangibles |
1,298,584,239 |
1,106,419,239 |
- |
|
Total Liabilities |
82,060,369,177 |
70,308,119,495 |
54,335,580,701 |
|
Current Liabilities |
67,787,488,524 |
57,492,191,655 |
46,767,403,110 |
|
Fixed Liabilities |
14,272,880,653 |
12,815,927,840 |
7,568,177,591 |
|
Capital Stock |
11,800,000,000 |
11,800,000,000 |
11,800,000,000 |
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Capital Surplus |
186,856,317 |
186,856,317 |
186,856,317 |
|
Profit Surplus |
29,308,509,804 |
26,981,017,711 |
20,013,130,198 |
|
Capital Adjustment |
(-)101,782,486 |
- |
|
|
Total Equity |
41,193,583,635 |
38,967,874,028 |
31,999,986,515 |
|
Liab. &
Shareholder’s Equity |
123,253,952,812 |
109,275,993,523 |
86,335,567,216 |
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Current
Liabilities |
67,787,488,524 |
57,492,191,655 |
46,767,403,110 |
|
Trade Payables |
3,599,945,352 |
1,382,361,280 |
2,759,081,332 |
|
Short-Term Borrowings |
29,224,394,607 |
19,321,700,912 |
16,667,896,962 |
|
Short-Term Borrowings-Foreign Currency |
29,441,540,768 |
31,168,162,600 |
23,477,971,033 |
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Account Payables |
1,013,535,531 |
571,446,399 |
559,044,848 |
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Withholdings |
87,996,009 |
117,671,715 |
71,366,058 |
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Advance Receipts |
79,666,212 |
263,248,490 |
87,072,609 |
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Accrued Income Tax |
70,141,290 |
1,556,380,760 |
342,608,840 |
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Accrued Expenses |
1,104,863,349 |
1,012,610,960 |
681,775,940 |
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Current Portion of Long-Term Debts |
3,162,865,889 |
2,098,608,539 |
1,272,920,000 |
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Current Portion of Long-Term
Borrowings-Foreign Currency |
- |
- |
847,665,488 |
|
Derivatives |
2,539,517 |
- |
- |
|
Fixed
Liabilities |
14,272,880,653 |
12,815,927,840 |
7,568,177,591 |
|
Leasehold Deposit Received |
5,000,000 |
5,000,000 |
5,000,000 |
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Long-Term Borrowings |
6,499,920,000 |
2,666,560,000 |
672,380,000 |
|
Long-Term Borrowings-Foreign Currency |
7,150,209,840 |
9,553,421,635 |
6,255,962,999 |
|
Provision for Severance & Retirement |
2,213,435,830 |
1,865,633,630 |
1,733,326,977 |
Income
Statement
|
Unit : Korean Won |
As of 12/31/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Sales |
299,239,613,902 |
236,870,357,172 |
153,784,176,739 |
|
Cost of Sold Goods |
282,845,039,059 |
220,199,385,896 |
141,631,686,052 |
|
Gross Profit |
16,394,574,843 |
16,670,971,276 |
12,152,490,687 |
|
Selling & Admin. Expenses |
8,074,871,698 |
7,149,335,918 |
6,478,106,271 |
|
Operating Income |
8,319,703,145 |
9,521,635,358 |
5,674,384,416 |
|
Non-Operating Income |
2,782,794,264 |
5,559,357,092 |
2,511,940,296 |
|
Non-Operating expenses |
7,821,997,822 |
5,918,386,187 |
3,813,659,522 |
|
Ordinary Income |
3,280,499,587 |
9,162,606,263 |
4,372,665,190 |
|
Special Income |
- |
- |
- |
|
Income Before Taxes |
3,280,499,587 |
9,162,606,263 |
4,372,665,190 |
|
Income Taxes Expenses |
953,007,494 |
2,194,718,750 |
1,171,839,910 |
|
Net Income |
2,327,492,093 |
6,967,887,513 |
3,200,825,280 |
Cash
Flows
|
Unit : Korean Won |
As of 12/31/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Cash Flows from Operating |
(-)2,071,251,958 |
(-)8,853,193,625 |
(-)2,595,176,705 |
|
-Net Income |
2,327,492,093 |
6,967,887,513 |
3,200,825,280 |
|
-Exp. without Cash Outflow |
7,624,181,042 |
5,259,401,707 |
3,800,413,894 |
|
-Revenue
without Cash Inflows |
(-)185,840,136 |
(-)1,438,498,301 |
(-)848,526,485 |
|
-Changes in
Asset/ & Liability |
(-)11,837,084,957 |
(-)19,641,984,544 |
(-)8,747,889,394 |
|
Cash Flows
from Investing |
(-)8,843,294,596 |
(-)7,689,993,155 |
(-)14,315,886,730 |
|
-Cash Inflow
from Investing |
4,950,989,395 |
9,659,479,803 |
10,334,973,878 |
|
-Cash
Outflows for Investing |
(-)13,794,283,991 |
(-)17,349,472,958 |
(-)24,650,860,608 |
|
Cash Flows
from Financing |
9,700,412,289 |
17,053,762,341 |
17,733,405,005 |
|
-Cash
Inflows from Financing |
188,407,648,785 |
169,800,508,951 |
109,457,417,617 |
|
-Cash
Outflows from Financing |
(-)178,707,236,496 |
(-)152,746,746,610 |
(-)91,724,012,612 |
|
Increase/Decrease
in Cash |
(-)1,214,134,265 |
510,575,561 |
822,341,570 |
|
Cash at the
Beginning of Year |
1,547,901,224 |
1,037,325,663 |
214,984,093 |
|
Cash at the
End of Year |
333,766,959 |
1,547,901,224 |
1,037,325,663 |
Products, Technologies, Services
Description
|
Main Products
& Services |
PLUMBING TUBE -Used for air-conditioning system, hot
water, city gas, fire prevention system and heat exchanger LEVEL WOUND COIL(LWC) -Suitable for automatic production line and contributes to leadtime
reduction and productivity improvement PANCAKE COIL/DOUGHNUT COIL -Used for the working place requiring the short length usually less
than 30 meters COPPER BILLET INNER GROOVED TUBE VARIANT TUBE |
Trade
Partners
|
Suppliers |
WOORI FINANCIAL CO., LTD(130111-0013499) is
providing vehicles services to the Subject Company by leasing base. |
Related Parties (Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
JUNGWOO METAL INDUSTRY CO., LTD. |
Sales by
Region (Activity &
Markets)
|
Sales/ Unit :Mil KRW |
2007 |
2006 |
2005 |
|
Export |
99,315,074,328 |
96,650,562,148 |
57,072,835,969 |
|
Domestic |
198,606,984,674 |
138,943,497,084 |
95,496,997,290 |
|
Others |
1,317,554,900 |
1,276,297,940 |
1,214,343,480 |
|
Total |
299,239,613,902 |
236,870,357,172 |
153,784,176,739 |
The Subject deals with the companies in Australia, Taiwan, Thailand and
USA.
Court
Action
|
Case No. |
Court |
Plaintiff(s)/
Creditor(s)/ Applicant(s) |
Defendant(s)/
Debtor(s)/ Respondent(s) |
Cause |
Amount (KRW) |
Status |
|
|
|
The Subject |
|
|
1,241,276,000 KRW |
Proceeding |
News
Clipping
--
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.34 |
|
UK Pound |
1 |
Rs.82.96 |
|
Euro |
1 |
Rs.65.82 |
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%)