MIRA INFORM REPORT
|
Report Date : |
25.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
OH YOUNG INDUSTRIAL CO., LTD. |
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Registered Office : |
1250-1, Jeongwang 3-dong, Siheung-si, Gyeonggi-do, Korea, 1Ra-402,
Sihwa Industrial Complex, Zip Code 429-914 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
20.08.1981 |
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Com. Reg. No.: |
128-81-02417 |
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Legal Form : |
Co., Ltd by shares |
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Line of Business : |
Manufacture of Synthetic Colouring Matter, Tanning Materials and Other
Coloring Agents |
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 |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
South Korea |
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Basic
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Company
Name |
OH YOUNG INDUSTRIAL CO., LTD. (Korean Company Name : “오영산업(주)”) |
|
Registered Address |
1250-1,
Jeongwang 3-dong, Siheung-si, Gyeonggi-do, Korea |
|
Building |
1Ra-402, Sihwa Industrial Complex |
|
Zip Code |
429-914 |
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Tel |
+82-31-499-2781 |
|
Fax |
+82-31-499-2785 |
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E-mail |
|
|
Website |
|
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Trading Address |
6th Fl.,
Sem Top Bldg., 448-16, Singil 5-dong, Yeongdeungpo-gu, Seoul, Korea |
|
Tel |
+82-2-834-5050 |
|
Fax |
+82-2-836-5101 |
|
Other Address-Munsan Factory |
685-3, Seonyu-ri, Munsan-eup, Paju-si, Gyeonggi-do, Korea |
|
Tel |
+82-2-834-5050 |
|
Fax |
+82-2-836-5101 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Synthetic Colouring Matter, Tanning Materials and Other
Coloring Agents |
|
Main Business |
Reactive Dyes, Disperse Dyes, Acid Dyes, Direct Dyes, Ink |
|
Sub
Business |
Manufacture of Surface-Active Agents |
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Established (mm/dd/yyyy) |
08/20/1981 |
The Subject owns
the premises of registered HQ address and Munsan Factory.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Phthalein dyes(12171502) |
|
Sell |
Dyes(12171500) |
|
Sell |
Ink and lead refills(44121900) |
|
Sell |
Reactive Dyestuffs |
CEO’s
|
Name |
Chung Hong-Key |
|
Address |
Suite C-4103, 467, Dogok-dong,
Gangnam-gu, Seoul, Korea |
|
Date of Birth |
135-270 |
|
Title |
President & CEO |
|
Sex |
Male |
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Nationality |
Korean |
Profiles
|
Capital (KRW) |
500,000,000 |
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Employees |
204 |
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Formation |
Co., Ltd by shares |
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Bank Details |
Industrial Bank of Korea Shinhan Bank Korea Exchange Bank |
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Corporate Registered No. |
115611-0001071 |
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Business Registered No. |
128-81-02417 |
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Permit & Licenses |
The subject became the first member of
ETAD(Ecological and Toxicological Association of Dyes and Organic Pigments Manufacturers)
among the Korean dyestuff makers in 1995. The subject obtained ISO14001 certificate
in Shi-wha factory from TUV Rheinland(Germany) in 07/1999. And two patents acquired. |
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Shareholder Position |
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Company History |
1981 Established OH YOUNG Industrial Co.,
Ltd. and initiated reactive dyestuffs at Moonsan factory in Kyung-Gi
province. 1982 Developed and produced triazine H-E
reactive dyes for the first time in KOREA 1985 Developed and produced formazane blue
(Suncion Blue H-ERD) for the second time in the world 1987 Developed and produced Bifunctional
and Vinylsulfone reactive dyes 1988 Established OH YOUNG Central Research
Institute 1992 Awarded 'USD 10million Export Tower'
by government and prize of 'Promising industrial company' by the minister of
commerce and industry 1993 Doubling the production capacity in
reactive dyes and initiated disperse dyes by erecting the 2nd factory in
Shihwa industrial complex 1995 Being as a first member of ETAD in
Korea (Ecological and Toxicological association of dyers and organic pigments
manufacturers) 1997 Developed cyanuric fluoride reactive
dyes 1999 Obtained environmental management
system, ISO 14001 certification from TUV Rheinland in Germany 2002 Exporting reactive & disperse dyes
to 50 countries in the world, based on its annual production capacity 22,800
tons of reactive dyes and 7,200 tons of disperse dyes respectively Awarded 'USD 20million Export Tower' by
government 12/29/2005 Moved to the present HQ address
from 685-3, Seonyu-ri, Munsan-eup, Paju-si, Gyeonggi-do, Korea |
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Chung Hong-Key |
Male |
Korean |
08/07/2000 |
|
Director |
Mr. |
Chung Yoong-Sung |
Male |
Korean |
05/18/1999 |
|
Director |
Mr. |
Lee Jeong-Bok |
Male |
Korean |
05/18/2005 |
|
Director |
Mr. |
Kim Seung-Nyon |
Male |
Korean |
06/09/2006 |
|
Auditor |
M/S. |
Chung Mi-Ji |
Female |
Korean |
03/31/2007 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
124,043,426,197 |
87,348,800,177 |
1,741,882,927 |
|
|
2009 |
108,395,349,366 |
80,441,551,720 |
3,975,474,880 |
|
2008 |
91,048,721,052 |
76,444,332,558 |
2,723,092,632 |
|
2007 |
66,813,636,284 |
69,239,217,069 |
861,986,827 |
|
2006 |
61,739,691,331 |
62,326,139,922 |
452,416,555 |
|
2005 |
52,031,979,901 |
58,844,442,062 |
307,938,785 |
|
2004 |
50,344,436,618 |
57,709,001,059 |
775,480,083 |
|
2003 |
50,022,950,927 |
58,257,822,559 |
604,220,322 |
Financial Description
|
Authorized Capital(KRW) |
1,200,000,000 |
|
Paid-Up Capital(KRW) |
500,000,000 |
|
Total Issues Shares |
100,000 |
Balance Sheet
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
87,348,800,177 |
80,441,551,720 |
76,444,332,558 |
|
Current Assets |
63,379,610,484 |
59,045,318,750 |
56,891,993,369 |
|
-Quick Assets |
37,017,092,556 |
31,569,740,238 |
29,950,809,743 |
|
-Inventories |
26,362,517,928 |
27,475,578,512 |
26,941,183,626 |
|
Fixed Assets |
23,969,189,693 |
21,396,232,970 |
19,552,339,189 |
|
-Investment |
3,168,861,140 |
2,328,541,470 |
2,331,621,170 |
|
-Tangibles |
20,398,914,059 |
18,657,246,045 |
16,777,730,901 |
|
-Intangibles |
33,884,094 |
58,223,384 |
88,916,718 |
|
-Others |
367,530,400 |
352,222,071 |
354,070,400 |
|
Total Liabilities |
41,743,670,315 |
35,578,304,785 |
35,556,560,503 |
|
Current Liabilities |
35,889,650,978 |
32,744,418,893 |
34,336,862,091 |
|
Fixed Liabilities |
5,854,019,337 |
2,833,885,892 |
1,219,698,412 |
|
Capital Stock |
500,000,000 |
500,000,000 |
500,000,000 |
|
Capital Surplus |
9,191,920,822 |
9,191,920,822 |
9,191,920,822 |
|
Profit Surplus |
35,913,209,040 |
35,171,326,113 |
31,195,851,233 |
|
Capital Adjustment |
|
|
- |
|
Total Equity |
45,605,129,862 |
44,863,246,935 |
40,887,772,055 |
|
Liab. & Shareholder’s Equity |
87,348,800,177 |
80,441,551,720 |
76,444,332,558 |
|
Current
Liabilities |
35,889,650,978 |
32,744,418,893 |
34,336,862,091 |
|
Trade Payables |
4,380,541,838 |
3,498,354,476 |
2,830,476,640 |
|
Short-Term Borrowings |
27,776,308,403 |
25,711,797,509 |
29,365,754,249 |
|
Account Payables |
17,100,000 |
285,500,000 |
3,315,200 |
|
Accrued Expenses |
2,849,909,877 |
2,144,758,417 |
1,448,707,265 |
|
Withholdings |
354,803,109 |
264,346,570 |
145,742,573 |
|
Guarantee Deposit Withhold |
- |
6,000,000 |
6,000,000 |
|
Advance Receipts |
226,739,341 |
73,874,791 |
40,364,414 |
|
Accrued Income Tax |
160,204,990 |
651,391,790 |
292,674,510 |
|
Current Portion of Long-Term Debts |
- |
- |
109,400,000 |
|
Provision for Products Guarantee |
124,043,420 |
108,395,340 |
94,427,240 |
|
Fixed
Liabilities |
5,854,019,337 |
2,833,885,892 |
1,219,698,412 |
|
Long-Term Borrowings |
1,854,000,000 |
- |
- |
|
Provision for Severance & Retirement |
7,601,970,840 |
5,683,832,690 |
3,235,146,410 |
Income Statement
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
124,043,426,197 |
108,395,349,366 |
91,048,721,052 |
|
Cost of Sold Goods |
107,990,031,585 |
90,985,602,311 |
78,022,989,313 |
|
Gross Profit |
16,053,394,612 |
17,409,747,055 |
13,025,731,739 |
|
Selling & Admin. Expenses |
12,679,972,122 |
11,812,821,991 |
7,707,200,371 |
|
Operating Income |
3,373,422,490 |
5,596,925,064 |
5,318,531,368 |
|
Non-Operating Income |
2,391,075,587 |
3,769,878,090 |
4,107,336,097 |
|
Non-Operating Expenses |
3,468,642,070 |
4,516,963,584 |
5,849,429,823 |
|
Ordinary Income |
2,295,856,007 |
4,849,839,570 |
3,576,437,642 |
|
Special Income |
- |
- |
- |
|
Income Before Taxes |
2,295,856,007 |
4,849,839,570 |
3,576,437,642 |
|
Income Taxes Expenses |
553,973,080 |
874,364,690 |
853,345,010 |
|
Net Income |
1,741,882,927 |
3,975,474,880 |
2,723,092,632 |
Cash Flows
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows from Operating |
3,084,513,768 |
6,900,174,357 |
-850,718,706 |
|
-Net Income |
1,741,882,927 |
3,975,474,880 |
2,723,092,632 |
|
-Exp. without Cash Outflow |
5,196,341,693 |
7,078,646,125 |
6,508,802,175 |
|
-Sale
without Cash Inflows |
-348,838,268 |
-1,391,748,086 |
-879,879,976 |
|
-Changes in Asset/ & Liability |
-3,504,872,584 |
-2,762,198,562 |
-9,202,733,537 |
|
Cash Flows from Investing |
-4,645,493,327 |
-3,817,667,716 |
-1,881,381,758 |
|
-Cash Inflow from Investing |
1,789,438,977 |
1,288,800,540 |
2,985,998,120 |
|
-Cash Outflows for Investing |
-6,434,932,304 |
-5,106,468,256 |
-4,867,379,878 |
|
Cash Flows from Financing |
2,801,044,688 |
-2,907,381,008 |
3,085,580,773 |
|
-Cash Inflows from Financing |
88,239,229,813 |
95,736,101,095 |
69,933,666,258 |
|
-Cash Outflows from Financing |
-85,438,185,125 |
-98,643,482,103 |
-66,848,085,485 |
|
Increase/Decrease in Cash |
1,240,065,129 |
175,125,633 |
353,480,309 |
|
Cash at the Beginning of Year |
835,274,953 |
660,149,320 |
306,669,011 |
|
Cash at the End of Year |
2,075,340,082 |
835,274,953 |
660,149,320 |
Products, Technologies, Services Description
|
Main Products & Services |
Reactive Dyes Disperse Dyes Acid Dyes Direct Dyes Ink Petrochemical Raw Materials Inorganic Chemical & Fertilizer Brand Name: “Suncolours”, “Suncid”, “Sunrrect”,
“Suntex”, “Sunfix Sufra” |
Trade Partners & Competitors
|
Suppliers |
HANA CAPITAL CO., LTD.(110111-0519970) provides vehicles leasing
service to the subject company. |
|
Competitors |
COLORANT COREA CORPORATION 782-4, EOGOK-DONG, YANGSAN-SI,
GYEONGSANGNAM-DO, KOREA TEL:+82-55-388-9003 FAX:+82-55-388-9006 MYUNGJIN TRADING CO., LTD. 4TH FL., MYEONGJIN BLDG., 236-7, NONHYEON
2-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-546-5040 FAX:+82-2-546-6566 YOOJIN CHEMICAL CO., LTD. 8B-28L, BANWOL INDUSTRIAL COMPLEX, 743-7,
WONSI-DONG, DANWON-GU, ANSAN-SI, GYEONGGI-DO, KOREA TEL:+82-31-494-0618 FAX:+82-31-494-0617 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
SEM INC.(110111-2013681) 1250-2, JEONGWANG-DONG, SIHEUNG-SI,
GYEONGGI-DO, KOREA TEL:+82-31-434-8390 |
|
Cooperative Enterprise |
-Insured Company LIG INSURANCE CO., LTD.(110111-0017859) |
Sales by Region
(Activity & Markets)
|
Sales/ Unit :Mil KRW |
2010 |
2009 |
2008 |
|
Export |
72,253,498,749 |
58,822,891,984 |
51,521,628,567 |
|
Domestic |
51,749,290,903 |
49,544,285,087 |
39,491,652,097 |
|
Others |
40,636,545 |
28,172,295 |
35,440,388 |
|
Total |
124,043,426,197 |
108,395,349,366 |
91,048,721,052 |
The subject deals with
the companies in China, India, Turkey, USA and Pakistan.
Court Action
No.
News Clipping
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.30 |
|
UK Pound |
1 |
Rs.72.92 |
|
Euro |
1 |
Rs.64.69 |
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 |
|
---- |
NB |
New Business |
---- |
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.