MIRA INFORM REPORT
|
Report Date : |
27.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
CARGIL AGRI PURINA, INC. |
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Registered Office : |
7-1, Gumi-dong, Bundang-gu, Seongnam-si, Gyeonggi-do, Korea, 5th Fl.,
Hallimwon Bldg., Zip Code 463-808 |
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Country : |
South Korea |
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Financials (as on) : |
31.05.2010 |
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Date of Incorporation : |
05.05.1967 |
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Com. Reg. No.: |
220-81-20176 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Manufacturer of Livestock Feeds and Prepared Animal Feeds |
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 : |
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 – 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 |
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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 |
CARGIL AGRI
PURINA, INC. (Korean Company
Name : “(주)카길애그리퓨리나”) |
|
Registered Address |
7-1,
Gumi-dong, Bundang-gu, Seongnam-si, Gyeonggi-do, Korea |
|
Building |
5th Fl., Hallimwon Bldg. |
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Zip Code |
463-808 |
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Tel |
+82-31-710-6000 |
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Fax |
+82-31-710-6110 |
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E-mail |
|
|
Website |
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Trading Address |
5th Fl., Hallimwon Bldg., 7-1, Gumi-dong, Bundang-gu,
Seongnam-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-710-6000 |
|
Fax |
+82-31-710-6110 |
|
Other Address-Gimhae Plant |
308-15, Bonsan-ri, Jinyeong-eup,
Gimhae-si, Gyeongsangnam-do, Korea |
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Tel |
+82-55-340-3400 |
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Fax |
+82-55-340-3366 |
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Other Address-Gunsan Plant |
56-4, Soryong-dong, Gunsan-si, Jeollabuk-do, Korea |
|
Tel |
+82-63-469-8787 |
|
Fax |
+82-63-469-8777 |
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Other Address-Songtan Plant |
627, Jangdang-dong, Pyeongtaek-si,
Gyeonggi-do, Korea |
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Tel |
+82-31-669-9000 |
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Fax |
+82-31-668-6460 |
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Other Address-Jeongeup Plant |
859, Habuk-dong, Jeongeup-si, Jeollabuk-do, Korea |
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Tel |
+82-63-532-9301 |
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Fax |
+82-63-532-9310 |
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Type |
Export/Import |
|
Industry |
Manufacture of Livestock Feeds and Prepared Animal Feeds |
|
Main
Business |
Mixed Feed, Feed Ingredients, Software |
|
Established (mm/dd/yyyy) |
05/05/1967 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Dog and cat food(10121800) |
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Sell |
Poultry food(10121604) |
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Sell |
Livestock feed(10121500) |
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Sell |
Fish food(10121700) |
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Sell |
Domestic pet treatments and accessories and equipment(10111300) |
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Sell |
Dry food for dogs(10121801) |
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Sell |
Treats or snacks for cats or dogs(10121806) |
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Sell |
Pet food bowls or equipment(10111304) |
|
Sell |
Moist food for cats(10121805) |
CEO’s
|
Name |
Lee Bo-Kyun |
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Address |
Suite 309-1703, 570, Bora-dong,
Giheung-gu, Yongin-si, Gyeonggi-do, Korea |
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Date of Birth |
04/04/1958 |
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Title |
Co-President & CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
|
Capital (KRW) |
55,669,735,000 |
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Employees |
406 |
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Formation |
Co., Ltd by Shares Foreign Direct Investment Corporation |
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Bank Details |
Nong Hyup Bank-Namdaemun Branch Shinhan Bank-Sogong Dong Branch |
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Corporate Registered No. |
110111-0296106 |
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Business Registered No. |
220-81-20176 |
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Permit & Licenses |
Int’l Trade No.: 530329 |
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Shareholder Position |
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Company History |
05/05/1967
Incorporated as Purina Korea Inc. 04/10/1968
Registered as a Foreign Direct Investment Corporation 06/11/1998 Changed company name to
AGRIBRANDS PURINA KOREA INC. 09/26/2003
Moved to the present address from 9Fl Shinan Bldg., 943-19 Daechi-dong,
Gangnam-gu, Seoul 135280 Korea 11/30/2007 Acquired Cargil Korea, and
changed company name to the present name 11/30/2007 Increased the authorized shares
to 20,000,000 shares from 10,000,000 shares 11/30/2007 Increased capital to 55,669,735,000 KRW from 46,169,735,000 KRW |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Co-President & CEO |
Mr. |
Lee Bo-Kyun |
Male |
Korean |
07/10/2008 |
|
Co-President & CEO |
Mr. |
Chuk Walta |
Male |
USA |
11/01/2010 |
|
Director |
Mr. |
Jo Stone |
Male |
USA |
07/10/2008 |
|
Director |
Mr. |
Jefrie Johnson |
Male |
USA |
07/10/2008 |
|
Auditor |
Mr. |
Robert Button |
Male |
USA |
04/20/2010 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
832,127,854,530 |
488,451,574,153 |
26,932,128,014 |
|
|
05/2009 |
840,658,419,264 |
426,242,786,940 |
30,443,945,693 |
|
05/2008 |
618,570,794,616 |
352,372,107,778 |
23,523,817,958 |
|
05/2007 |
434,730,975,682 |
244,160,815,611 |
19,673,569,596 |
|
05/2006 |
394,188,714,470 |
202,834,053,973 |
23,026,115,955 |
|
05/2005 |
413,188,115,784 |
180,625,962,584 |
18,067,589,001 |
Financial Description
|
Authorized Capital(KRW) |
100,000,000,000 |
|
Paid-Up Capital(KRW) |
55,669,735,000 |
|
Total Issues Shares |
11,133,947 (Common : 11,033,947 / Preferable : 100,000) |
Balance Sheet
|
Unit : Korean Won |
As of 05/31/2010 |
As of 05/31/2009 |
As of 05/31/2008 |
|
Total Assets |
488,451,574,153 |
426,242,786,940 |
352,372,107,778 |
|
Current Assets |
431,133,669,860 |
372,413,746,141 |
299,381,746,681 |
|
-Quick Assets |
341,585,252,953 |
309,455,568,227 |
216,199,574,443 |
|
-Inventories |
89,548,416,907 |
62,958,177,914 |
83,182,172,238 |
|
Fixed Assets |
57,317,904,293 |
53,829,040,799 |
52,990,361,097 |
|
-Investment |
5,063,755,500 |
1,096,940,500 |
153,260,500 |
|
-Tangibles |
44,603,138,373 |
45,403,612,657 |
45,458,330,983 |
|
-Intangibles |
5,890,162 |
8,608,970 |
21,823,942 |
|
-Others |
7,645,120,258 |
7,319,878,672 |
7,356,945,672 |
|
Total Liabilities |
179,727,625,621 |
144,450,966,422 |
101,024,232,953 |
|
Current Liabilities |
175,806,193,004 |
139,966,338,664 |
96,824,223,309 |
|
Fixed Liabilities |
3,921,432,617 |
4,484,627,758 |
4,200,009,644 |
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Capital Stock |
55,669,735,000 |
55,669,735,000 |
55,669,735,000 |
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Capital Surplus |
20,969,583 |
20,969,583 |
20,969,583 |
|
Profit Surplus |
253,033,243,949 |
226,101,115,935 |
195,657,170,242 |
|
Capital Adjustment |
- |
- |
- |
|
Total Equity |
308,723,948,532 |
281,791,820,518 |
251,347,874,825 |
|
Liab. & Shareholder’s Equity |
488,451,574,153 |
426,242,786,940 |
352,372,107,778 |
|
Current
Liabilities |
175,806,193,004 |
139,966,338,664 |
96,824,223,309 |
|
Short-Term Borrowings |
27,221,241,083 |
22,323,328,903 |
- |
|
Trade Payables |
95,450,092,856 |
64,545,759,578 |
62,343,937,314 |
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Account Payables |
27,197,466,395 |
26,534,160,853 |
18,362,138,856 |
|
Derivatives |
5,309,276,133 |
3,093,920,368 |
3,166,285,052 |
|
Provision for Payment Guarantee |
160,975,657 |
195,103,245 |
279,277,084 |
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Advance Receipts |
10,875,357,666 |
7,272,915,518 |
4,352,856,235 |
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Withholdings |
1,804,658,607 |
1,818,098,699 |
3,243,410,197 |
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Accrued Expenses |
3,773,816,570 |
3,037,810,927 |
2,377,935,314 |
|
Accrued Income Tax |
4,013,308,037 |
11,145,240,573 |
2,698,383,257 |
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Fixed
Liabilities |
3,921,432,617 |
4,484,627,758 |
4,200,009,644 |
|
Provision for Law Suits |
130,000,000 |
130,000,000 |
130,000,000 |
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Provision for Severance & Retirement |
20,497,566,337 |
20,442,843,848 |
20,016,269,480 |
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Non-Current Portion of Deferred Income Tax
Credit |
171,522,303 |
173,013,083 |
254,366,288 |
Income
Statement
|
Unit : Korean Won |
As of 05/31/2010 |
As of 05/31/2009 |
As of 05/31/2008 |
|
Sales |
832,127,854,530 |
840,658,419,264 |
618,570,794,616 |
|
Cost of Sold Goods |
648,626,423,597 |
657,779,191,858 |
475,715,394,398 |
|
Gross Profit |
183,501,430,933 |
182,879,227,406 |
142,855,400,218 |
|
Selling & Admin. Expenses |
157,519,791,814 |
153,231,510,542 |
122,635,135,968 |
|
Operating Income |
25,981,639,119 |
29,647,716,864 |
20,220,264,250 |
|
Non-Operating Income |
38,644,054,363 |
63,184,427,973 |
22,273,053,244 |
|
Non-Operating Expenses |
26,720,905,402 |
48,524,570,942 |
10,096,848,625 |
|
Ordinary Income |
37,904,788,080 |
44,307,573,895 |
32,396,468,869 |
|
Special Income |
- |
- |
- |
|
Income Before Taxes |
37,904,788,080 |
44,307,573,895 |
32,396,468,869 |
|
Income Taxes Expenses |
10,972,660,066 |
13,863,628,202 |
8,872,650,911 |
|
Net Income |
26,932,128,014 |
30,443,945,693 |
23,523,817,958 |
Cash Flows
|
Unit : Korean Won |
As of 05/31/2010 |
As of 05/31/2009 |
As of 05/31/2008 |
|
Cash Flows from Operating |
43,708,163,039 |
48,178,123,008 |
7,152,380,165 |
|
-Net Income |
26,932,128,014 |
30,443,945,693 |
23,523,817,958 |
|
-Exp. without Cash Outflow |
25,958,115,069 |
21,609,938,825 |
14,876,802,033 |
|
-Revenue without Cash Inflows |
-7,593,462,771 |
-4,514,510,128 |
-8,138,862,297 |
|
-Changes in Asset/ & Liability |
-1,588,617,273 |
638,748,618 |
-23,109,377,529 |
|
Cash Flows from Investing |
-155,150,061,688 |
43,775,899,488 |
-15,151,672,020 |
|
-Cash Inflow from Investing |
22,434,013,632 |
83,992,269,432 |
19,079,109,211 |
|
-Cash Outflows for Investing |
-177,584,075,320 |
-40,216,369,944 |
-34,230,781,231 |
|
Cash Flows from Financing |
5,269,277,585 |
24,379,216,726 |
- |
|
-Cash Inflows from Financing |
27,592,606,488 |
24,379,216,726 |
- |
|
-Cash Outflows from Financing |
-22,323,328,903 |
- |
- |
|
Increase/Decrease in Cash |
-106,172,621,064 |
116,333,239,222 |
-7,999,291,855 |
|
Cash at the Beginning of Year |
143,030,272,110 |
26,697,032,888 |
34,696,324,743 |
|
Cash at the End of Year |
36,857,651,046 |
143,030,272,110 |
26,697,032,888 |
Products, Technologies, Services
Description
|
Main Products & Services |
Mixed Feed, Feed Ingredients, Software |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
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Trade Partners & Competitors
|
Suppliers |
|
|
Customers |
|
|
Competitors |
CJ CHEILJEDANG CORP.(110111-3748253) SAMYANG CORPORATION(110111-0026131) WOOSUNG FEED CO.,LTD(160111-0001167) SUNJIN
CO., LTD.(134411-0000735) |
Related Parties
(Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
CARGILL INC. CARGILL, INC. - ANIMAL NUTRITION(TRADICO) AGRIBRANDS PURINA (LANGFANG) CARGILL JAPAN LTD CARGILL INTERNATIONAL S.A. CARGILL AUSTRALIA LIMITED CARGILL, INC. - CORN MILLING NORTH AMERICA CAN TECHNOLOGIES INC. CARGILL TRADING LIMITED CARGILL ASIA PACIFIC TREASURY LIMITED CARGILL AISA PACIFIC HOLDING PTE LTD. CARGILL PHILIPPINES INC CARGILL GRAIN & OILSEEDS (NANTONG) LTD CARGILL SIAM LTD - THAILAND P.T. CARGILL INDONESIA CARGILL INDIA PRIVATE LTD. CARGILL HOLDINGS MALAYSIA SDN. BHD. CARGILL MALAYSIA SDN BHD CARGILL VIETNAM LIMITED SUN VALLEY (THAILAND) LTD. CARGILL FEED (ZHENJIANG) CO., LTD. CARGILL INVESTMENT CHINA LTD. LNB INTERNATIONAL FEED BV CARGILL EUROPE BVBA CARGILL ANIMAL NUTRITION (NANJING) CO., LTD AGRIBRANDS PURINA (CHENGDU) FEED CO AGRIBRANDS PURINA JIAXING AGRIBRANDS PURINA FUSHUN AGRIBRANDS PURINA (FOSHAN)FEEDMILL CO.,LTD AGRIBRANDS PURINA YANTAI CARGILL INT'L TRADING MEAL SIGAPORECARGILL
INVESTMENT CHINA LTD. |
|
Corporate Ownership |
CARGILL INC. |
|
Major Shareholders |
CARGILL HOLDINGS
BV(NETHERLANDS) |
|
Cooperative Enterprise |
-Insured Company AMERICAN HOME ASSURANCE FIRST FIRE & MARINE INSURANCE CO., LTD.(110111-0017586) -Technical Support to CAN TECHNOLOGIES INC. |
Sales by Region
(Activity & Markets)
The Subject deals
with the companies in China, Thailand, Vietnam and Netherlands.
Court Action
|
Case No. |
Court |
Plaintiff(s)/
Creditor(s)/ Applicant(s) |
Defendant(s)/
Debtor(s)/ Respondent(s) |
Cause |
Amount (KRW) |
Status |
|
|
Supreme Court |
Jung Cheol-Keun |
The Subject Company |
Claim for Compensation from Damages |
432,163,376,000 |
The Subject won at 2nd round and 3rd round is
proceeding. |
News Clipping
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.59 |
|
UK Pound |
1 |
Rs.73.44 |
|
Euro |
1 |
Rs.64.81 |
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 |
|
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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.