MIRA INFORM
REPORT
|
Report Date : |
07.08.2010 |
IDENTIFICATION DETAILS
|
Name : |
YG-1 CO., LTD. |
|
|
|
|
Registered Office : |
68, Cheongcheon 1-dong, Bupyeong-gu, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
25.09.1986 |
|
|
|
|
Com. Reg. No.: |
122-81-16515 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Saws, Saw Blades and Interchangeable Tools |
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 : |
No Complaints |
|
Litigation : |
Exists |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Basic
|
Company
Name |
YG-1 CO., LTD. (Korean Company
Name : “(주)와이지-원”) |
|
Registered Address |
68, Cheongcheon 1-dong, Bupyeong-gu, |
|
Zip Code |
403-855 |
|
Tel |
+82-32-526-0909 |
|
Fax |
+82-32-526-4373 |
|
E-mail |
yg-1@yg1.co.kr |
|
Website |
www.yg1.co.kr |
|
Trading Address |
68,
Cheongcheon 1-dong, Bupyeong-gu, |
|
Tel |
+82-32-526-0909 |
|
Fax |
+82-32-526-4373 |
|
Other Address-Ansan Factory |
5Ra-403,
Sihwa Industrial Complex, 673-15, Seonggok-dong, Danwon-gu, Ansan-si, |
|
Tel |
+82-31-499-9541~5 |
|
Fax |
+82-31-498-7971 |
|
Other Address-Gwangju Factory |
621-4,
Docheon-dong, Gwangsan-gu, |
|
Tel |
+82-62-951-9212 |
|
Fax |
+82-62-951-9222 |
|
Other Address-R&D Center |
7-7, Songdo-dong, Yeonsu-gu, |
|
Tel |
+82-32-858-0919~21 |
|
Fax |
+82-32-858-0922 |
|
Type |
Export |
|
Industry |
Manufacture of Saws, Saw Blades and Interchangeable
Tools |
|
Main Business |
End Mill, Drill, Tap, Rotary Burr |
|
Established
(mm/dd/yyyy) |
09/25/1986 |
The Subject owns
the premises of registered HQ address, Ansan Factory and Gwangju
Factory.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Taps or dies(23153305) |
|
Sell |
Drills(23153301) |
|
Sell |
End mills(27112803) |
|
Sell |
Rotary burrs(23153310) |
|
Buy |
Tungsten carbide(31191518) |
|
Buy |
Steel(11101704) |
CEO’s
|
Name |
Song Ho-Keun |
|
Address |
|
|
Date of Birth |
01/15/1952 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital |
10,806,615,000 KRW |
|||||||||||||||||||||||||||
|
Employees |
704 |
|||||||||||||||||||||||||||
|
Formation |
Listed Company (KOSDAQ : 019210) as of 08/06/1997 |
|||||||||||||||||||||||||||
|
Bank Details |
SC First Bank of Woori Bank |
|||||||||||||||||||||||||||
|
Corporate Registered No. |
120111-0038639 |
|||||||||||||||||||||||||||
|
Business Registered No. |
122-81-16515 |
|||||||||||||||||||||||||||
|
Permit & Licenses |
06/1993 KS Mark 03/1997 EM Mark 03/31/1997 KS Mark 12/28/1999 ISO 9001 by TUV 07/2001 ISO 14001 by TUV 03/2005 ISO 9001 by DAS 03/2005 ISO 14001 by DAS Int’l Trade No.: 960975 |
|||||||||||||||||||||||||||
|
Shareholder Position |
|
|||||||||||||||||||||||||||
|
Company History |
09/25/1986 Incorporated as YANGGEE 1 TOOLS
CO., LTD. 10/12/1999 Changed company name to the
present name 11/2001 Awarded US$30 Million Export Top
Prize 07/2004 Moved to the present HQ address
from 378,
Cheongcheon-dong, Bupyeong-gu, 11/2004 Awarded US$50 Million Export Top
Prize 11/2006 Awarded US$70 Million Export Top
Prize 11/2008 Awarded US$100 Million Export Top
Prize 02/28/2009 Acquired the patent on spherical tools
in |
|||||||||||||||||||||||||||
|
|
|
Management
|
Job
Description |
Title |
Name |
Nationality |
Date of
Birth |
Education |
|
President & CEO |
Mr. |
Song Ho-Keun |
Korean |
1952.01.15 |
|
|
Director / R&D |
Mr. |
Lee Young-Bae |
Korean |
1951.03.10 |
|
|
Director |
Mr. |
Park Young-Koon |
Korean |
1958.01.27 |
|
|
Outside Director |
Mr. |
Kim Jong-Hoon |
Korean |
1953.03.08 |
|
|
Auditor |
Mr. |
Lee Ho-Kil |
Korean |
1950.06.29 |
|
Financials
|
|
|
|
Unit: KRW |
|
Year |
Sales |
Assets |
Net Income |
|
26,784,852,461 |
199,128,554,539 |
819,097,512 |
|
|
2008 |
115,507,427,989 |
190,838,235,591 |
(-)14,645,488,980 |
|
2007 |
174,829,352,201 |
177,677,235,137 |
7,670,371,069 |
|
2006 |
128,278,571,018 |
142,713,220,376 |
9,865,338,204 |
|
2005 |
105,483,007,771 |
119,862,120,219 |
7,231,213,257 |
Financial Description
|
|
Unit: KRW |
|
Authorized Capital |
20,000,000,000 |
|
Paid-Up Capital |
10,806,615,000 |
|
Total Issues Shares |
21,613,230 |
Balance Sheet
|
Unit : Korean Won |
01/01/2010~03/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
199,128,554,539 |
190,838,235,591 |
177,677,235,137 |
|
Current Assets |
107,959,278,511 |
96,735,414,124 |
87,501,855,968 |
|
-Quick Assets |
47,272,555,146 |
44,027,022,616 |
30,821,495,114 |
|
-Inventories |
60,686,723,365 |
52,708,391,508 |
56,680,360,854 |
|
Fixed Assets |
91,169,276,028 |
94,102,821,467 |
90,175,379,169 |
|
-Investment |
39,838,144,346 |
38,783,087,785 |
45,548,158,640 |
|
-Tangibles |
44,176,816,730 |
48,416,639,387 |
42,208,021,401 |
|
-Intangibles |
970,407,100 |
972,232,786 |
53,660,525 |
|
-Others |
6,183,907,852 |
5,930,861,509 |
2,365,538,603 |
|
Total Liabilities |
122,414,411,376 |
112,755,606,991 |
83,967,688,445 |
|
Current Liabilities |
85,625,649,284 |
73,913,970,348 |
65,616,318,283 |
|
Fixed Liabilities |
36,788,762,092 |
38,841,636,643 |
18,351,370,162 |
|
Capital Stock |
10,806,615,000 |
10,806,615,000 |
10,806,615,000 |
|
Capital Surplus |
30,083,688,845 |
30,083,688,845 |
30,083,688,845 |
|
Profit Surplus |
22,566,823,351 |
22,828,387,339 |
40,275,549,854 |
|
Capital Adjustment |
13,257,015,967 |
14,363,937,416 |
12,543,692,993 |
|
Total Equity |
76,714,143,163 |
78,082,628,600 |
93,709,546,692 |
|
Liab. & Shareholder’s Equity |
199,128,554,539 |
190,838,235,591 |
177,677,235,137 |
|
Current
Liabilities |
85,625,649,284 |
73,913,970,348 |
65,616,318,283 |
|
Trade Payables |
14,019,181,240 |
12,446,295,949 |
5,104,382,272 |
|
Short-Term Borrowings |
57,829,558,017 |
49,574,324,997 |
35,909,573,163 |
|
Account Payables |
2,803,871,784 |
1,416,593,106 |
10,508,113,119 |
|
Accrued Income Tax |
- |
- |
4,758,822,114 |
|
Accrued Expenses |
1,952,453,245 |
1,552,535,056 |
1,245,880,304 |
|
Advance Receipts |
148,885,524 |
113,531,595 |
863,089,880 |
|
Withholdings |
- |
644,394,300 |
114,321,030 |
|
Current Portion of Long-Term
Debts |
7,609,357,200 |
7,984,614,571 |
7,112,136,401 |
|
Provision for Warrant |
178,274,775 |
178,274,775 |
- |
|
Provision for Refund |
3,405,999 |
3,405,999 |
- |
|
Accrued Dividends |
1,080,661,500 |
- |
- |
|
Fixed
Liabilities |
36,788,762,092 |
38,841,636,643 |
18,351,370,162 |
|
Long-Term Borrowings |
11,468,513,498 |
13,051,337,173 |
13,159,300,920 |
|
Debentures |
20,000,000,000 |
20,000,000,000 |
- |
|
Provision for Severance &
Retirement |
8,136,603,068 |
8,130,469,527 |
7,485,278,850 |
Income
Statement
|
Unit : Korean Won |
01/01/2010~03/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
26,784,852,461 |
115,507,427,989 |
174,829,352,201 |
|
Cost of Sold Goods |
19,959,389,802 |
100,670,041,439 |
132,651,911,689 |
|
Gross Profit |
6,825,462,659 |
14,837,386,550 |
42,177,440,512 |
|
Selling & Admin. Expenses |
5,837,431,035 |
22,678,089,577 |
22,693,115,868 |
|
Operating Income |
988,031,624 |
(-)7,840,703,027 |
19,484,324,644 |
|
Non-Operating Income |
3,770,597,819 |
11,317,584,428 |
15,031,789,036 |
|
Non-Operating Expenses |
4,183,782,285 |
23,365,851,102 |
21,676,226,397 |
|
Ordinary Income |
574,847,158 |
(-)19,888,969,701 |
12,839,887,283 |
|
Special Income |
- |
- |
- |
|
Income Before Taxes |
574,847,158 |
(-)19,888,969,701 |
12,839,887,283 |
|
Income Taxes Expenses |
(-)244,250,354 |
(-)5,243,480,721 |
5,169,516,214 |
|
Net Income |
819,097,512 |
(-)14,645,488,980 |
7,670,371,069 |
Cash Flows
|
Unit : Korean Won |
01/01/2010~03/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows from Operating |
(-)2,781,069,627 |
(-)3,087,277,946 |
16,653,426,994 |
|
-Net Income |
819,097,512 |
(-)14,645,488,980 |
7,670,371,069 |
|
-Exp. without Cash Outflow |
5,415,876,802 |
30,790,464,204 |
22,198,831,670 |
|
-Revenue without Cash Inflows |
(-)2,567,777,820 |
(-)6,144,022,060 |
(-)8,467,702,489 |
|
-Changes in Asset/ & Liability |
(-)6,448,266,121 |
(-)13,088,231,110 |
(-)4,748,073,256 |
|
Cash Flows from Investing |
(-)6,473,759,758 |
(-)18,182,339,075 |
(-)14,527,234,087 |
|
-Cash Inflow from Investing |
833,269,689 |
14,960,847,521 |
2,942,945,442 |
|
-Cash Outflows for Investing |
(-)7,307,029,447 |
(-)33,143,186,596 |
(-)17,470,179,529 |
|
Cash Flows from Financing |
7,154,402,223 |
22,935,811,900 |
(-)2,505,771,167 |
|
-Cash Inflows from Financing |
9,236,045,166 |
56,372,204,997 |
5,558,310,292 |
|
-Cash Outflows from Financing |
(-)2,081,642,943 |
(-)33,436,393,097 |
(-)8,064,081,459 |
|
Increase/Decrease in Cash |
(-)2,100,427,162 |
1,666,194,879 |
(-)379,578,260 |
|
Cash at the Beginning of Year |
4,380,866,955 |
2,714,672,076 |
3,094,250,336 |
|
Cash at the End of Year |
2,280,439,793 |
4,380,866,955 |
2,714,672,076 |
Products, Technologies, Services Description
|
Main Products & Services |
End Mills, Taps, Drills |
Trade
Partners & Competitors
|
Competitors |
INBEX DIAMOND CO., LTD. 296-2, DONGPAE 1-RI, GYOHA-EUP, PAJU-SI, TEL:+82-31-945-2153 FAX:+82-31-945-2809 ACCUTECH CO., LTD. 1402-3, JUAN 5-DONG, NAM-GU, TEL:+82-32-816-8808 FAX:+82-32-811-0837 SEWON TECH CO., LTD. 396-11, CHEONGCHEON 2-DONG, BUPYEONG-GU, TEL:+82-32-582-4324~6 FAX:+82-32-582-4327 |
Related Parties (Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
(90.6% held by the subject company) QINGDAO YG-1 TOOL CO., LTD.( (100.0% held by the subject company) YG-1 (100.0% held by the subject company) PREMIER CUTTING TOOLS. INC.( (100.0% held by the subject company) REGAL CUTTING TOOLS. INC.( (60.0% held by the subject company) YG-1 INDUSTRIES (100.0% held by the subject company) EUROPA TOOLS CO., LTD.( (81.1% held by the subject company) YG-1 DEUTSCHLAND GMBH( (100.0% held by the subject company) YG-1 AUSTRALIA PTY. LTD.( (100.0% held by the subject company) YG-1 TOOLS (100.0% held by the subject company) YG-1 (90.0% held by the subject company) ALPHA TOOL CO.,LTD.( (48.0% held by the subject company) YG-1 LATIN AMERICA( TEKNO TAKIM SAN. TIC. AS.( YG CUTTING TOOLS CORPORATION PVT.LTD.( CLARKSON OSBORN INTERNATIONAL LTD.( MINICUT INTERNATIONAL. INC.( NATIONAL TOOL HARDENING INC.( YG-1 YG-1 CANADA INC. YG-1 ( YG-1 CORPORATION TRADING SRL ( YG-1 CHINA HOLDINGS LIMITED. YG-1 ( |
|
Cooperative |
-Insured company SAMSUNG FIRE & MARINE INSURANCE CO., LTD.(110111-0005078) |
Sales by
Region (Activity &
Markets)
|
Sales/ Unit :Mil KRW |
03/2010 |
2009 |
2008 |
|
Export |
17,738 |
82,525 |
139,617 |
|
Domestic |
9,047 |
33,007 |
35,212 |
|
Total |
26,785 |
115,532 |
174,829 |
The Subject exports
to
Court
Action
|
Case No. |
Court |
Plaintiff(s)/
Creditor(s)/ Applicant(s) |
Defendant(s)/
Debtor(s)/ Respondent(s) |
Cause |
Amount (Million KRW) |
Status |
|
|
|
- |
The Subject Company |
- |
US$1,201,000 |
Proceeding |
News
Clipping
----
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.02 |
|
|
1 |
Rs.73.21 |
|
Euro |
1 |
Rs.60.70 |
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 |
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 |
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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.