MIRA INFORM REPORT

 

 

Report Date :

04.08.2011

 

IDENTIFICATION DETAILS

 

Name :

SAMWON TECH CO., LTD.

 

 

Registered Office :

202-703, Bucheon Techno Park 2-danji 192, Yakdae-dong, Wonmi-gu, Bucheon-si, Gyeonggi-do, Korea 420-733

 

 

Country :

South Korea

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

26.11.1998

 

 

Com. Reg. No.:

122-81-56332

 

 

Legal Form :

Co., Ltd by Shares

 

 

Line of Business :

Manufacture of Industrial Process Control Equipment

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

South Korea

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

SAMWON TECH CO., LTD.

(Korean Company Name : “(주)삼원테크”)

Registered Address

192, Yakdae-dong, Wonmi-gu, Bucheon-si, Gyeonggi-do, Korea

Building

202-703, Bucheon Techno Park 2-danji

Zip Code

420-733

Tel

+82-32-326-9120

Fax

+82-32-326-9119

E-mail

webmaster@samwontech.com

Website

www.samwontech.com

Trading Address

202-703, Bucheon Techno Park 2-danji, 192, Yakdae-dong, Wonmi-gu, Bucheon-si, Gyeonggi-do, Korea

Tel

+82-32-326-9120

Fax

+82-32-326-9119

Type

Export

Industry

Manufacture of Industrial Process Control Equipment

  Main Business

Converter, Power Supply, SCR

Established (mm/dd/yyyy)

11/26/1998

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Control unit(43201542)

Sell

Removable storage media(43202000)

Sell

Control unit(43201542)

Buy

Power supply transformers(39121002)

Buy

Inverters(32121705)

Buy

Resistors(32121600)

Buy

Liquid crystal display LCD panels or monitors(43211902)

Buy

Batteries and cells and accessories(26111700)

Buy

Light emitting diodes LEDs(32111503)

Buy

Switches and controls and relays and accessories(39121500)

Buy

Terminal blocks(39121410)

Buy

Lugs connectors and terminals(39121400)

Buy

Shells and casings(31261600)

Buy

Diodes(32111500)

Buy

Integrated circuits(32101600)

 

 

CEO’s

 

Name

Lee Young-Ik

Address

1729-1, Beopheung-ri, Tanhyeon-myeon, Paju-si, Gyeonggi-do, Korea

Date of Birth

07/20/1961

Title

President & CEO

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

1,400,000,000

Employees

30

Formation

Co., Ltd by Shares

Venture Business

Bank Details

Shinhan Bank-Bupyung Corporate Finance Branch

Corporate Registered No.

120111-0180232

Business Registered No.

122-81-56332

Permit & Licenses

Int’l Trade No.: 14101841

Shareholder Position

Name

Shares

%

LEE YOUNG-IK

68,580

24.49

LEE YOUNG-IK'S FAMILY

26,729

9.55

KIM EUN-HWAN

22,800

8.14

SONG JOON-HO

16,300

5.82

STICK JOB CREATION FUND

30,000

10.71

Q CAPITAL PARTNERS CO., LTD.(110111-0339691)

16,667

5.95

PLATINUM TECHNOLOGY INVESTMENT CO., LTD.(110111-1856074)

3,367

1.20

AMT KOREA INC.(110111-3085928)

10,000

3.57

OTHERS

85,557

30.57

TOTAL

280,000

100.00

Company History

02/1998 Established as Samwon Tech Co.(Sole Proprietorship)

11/26/1998 Incorporated as the present name

08/2000 Designated as a Venture Business

11/15/2004 Designated as a Venture Business again

07/08/2005 Increased capital to 1,400,000,000 KRW from 1,250,000,000 KRW

11/15/2006 Designated as a Venture Business again

11/15/2007 Designated as a Venture Business again

11/15/2008 Designated as a Venture Business again

 

 

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

Mr.

Lee Young-Ik

Male

Korean

11/26/1998

Director

Mr.

Kim Eun-Hwan

Male

Korean

11/26/1998

Director

Mr.

Lee Seung-Yeol

Male

Korean

03/31/2009

Outside Director

Mr.

Chae Jong-Seok

Male

Korean

03/30/2011

Auditor

Mr.

Moon Yi-Hwan

Male

Korean

03/30/2011

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2010

 

 

 

2009

5,826,000,000

9,741,000,000

556,000,000

2008

7,047,171,534

9,479,324,766

-81,209,616

2007

8,031,471,274

8,793,225,063

659,619,650

2006

6,121,930,951

9,179,717,710

309,353,179

2005

6,419,108,698

8,733,794,635

591,378,059

The latest financials are not available, and the Subject Company does not have any obligations to release its financials to the public.

 

 

Financial Description

 

Authorized Capital(KRW)

4,000,000,000

Paid-Up Capital(KRW)

1,400,000,000

Total Issues Shares

280,000

 

 

Balance Sheet

 

Unit : Korean Won

As of 12/31/2009

As of 12/31/2008

As of 12/31/2007

Total Assets

9,741,000,000

9,479,324,766

8,793,225,063

Current Assets

 

6,714,586,521

6,597,413,107

-Quick Assets

 

4,370,953,418

4,475,130,996

-Inventories

 

2,343,633,103

2,122,282,111

Fixed Assets

 

2,764,738,245

2,195,811,956

-Investment

 

5,396,626

5,396,626

-Tangibles

 

2,305,350,550

1,886,999,863

-Intangibles

 

311,660,864

135,178,477

-Others

 

142,330,205

168,236,990

Total Liabilities

3,629,000,000

3,741,796,107

2,974,486,788

Current Liabilities

 

2,985,595,391

2,159,927,370

Fixed Liabilities

 

756,200,716

814,559,418

Capital Stock

 

1,400,000,000

1,400,000,000

Capital Surplus

 

2,134,858,344

2,134,858,344

Profit Surplus

 

2,202,670,315

2,283,879,931

Capital Adjustment

 

　

　

Total Equity

6,112,000,000

5,737,528,659

5,818,738,275

Liab. & Shareholder’s Equity

9,741,000,000

9,479,324,766

8,793,225,063

 

Current Liabilities

 

2,985,595,391

2,159,927,370

Trade Payables

 

994,502,350

603,880,391

Short-Term Borrowings

 

1,350,000,000

850,000,000

Account Payables

 

123,832,171

56,298,971

Withholdings

 

10,068,230

8,223,500

Accrued Expenses

 

242,438,990

318,944,058

Advance Receipts

 

2,195,255

3,523,900

Accrued Income Tax

 

0

64,143,786

Current Portion of Long-Term Debts

 

262,558,395

254,912,764

Fixed Liabilities

 

756,200,716

814,559,418

Long-Term Borrowings

 

326,641,533

460,868,223

Provision for Severance & Retirement

 

451,838,126

375,879,333

 

 

Income Statement

 

Unit : Korean Won

As of 12/31/2009

As of 12/31/2008

As of 12/31/2007

Sales

5,826,000,000

7,047,171,534

8,031,471,274

Cost of Sold Goods

 

5,028,405,010

5,378,332,011

Gross Profit

 

2,018,766,524

2,653,139,263

Selling & Admin. Expenses

 

1,981,855,730

1,941,803,271

Operating Income

 

36,910,794

711,335,992

Non-Operating Income

 

213,904,147

146,999,142

Non-Operating Expenses

 

370,014,706

191,654,876

Income Before Taxes

 

-119,199,765

666,680,258

Income Taxes Expenses

 

-37,990,149

7,060,608

Net Income

556,000,000

-81,209,616

659,619,650

 

 

Cash Flows

 

Unit : Korean Won

As of 12/31/2009

As of 12/31/2008

As of 12/31/2007

Cash Flows from Operating

 

472,997,215

762,531,900

-Net Income

 

-81,209,616

659,619,650

-Exp. without Cash Outflow

 

1,065,254,478

864,539,262

-Revenue without Cash Inflows

 

-11,574,484

-11,296,435

-Changes in Asset/ & Liability

 

-499,473,163

-750,330,577

Cash Flows from Investing

 

-1,159,273,047

365,582,132

-Cash Inflow from Investing

 

1,245,100,000

1,269,478,000

-Cash Outflows for Investing

 

-2,404,373,047

-903,895,868

Cash Flows from Financing

 

286,837,069

-817,730,631

-Cash Inflows from Financing

 

2,530,000,000

1,784,250,850

-Cash Outflows from Financing

 

-2,243,162,931

-2,601,981,481

Increase/Decrease in Cash

 

-399,438,763

310,383,401

Cash at the Beginning of Year

 

573,568,665

263,185,264

Cash at the End of Year

 

174,129,902

573,568,665

 

Products, Technologies, Services Description

 

Main Products & Services

Converter, Power Supply, SCR

 

 

Trade Partners & Competitors

 

Suppliers

YOKOGAWA ELECTRIC KOREA CO., LTD.(110111-0244014)

Competitors

ABB LTD.

7TH FL., OKSAN BLDG., 157-33, SAMSEONG 1-DONG, GANGNAM-GU, SEOUL, KOREA

TEL:+82-2-528-3131  FAX:+82-2-528-3100

 

WOOSHIN INDUSTRIAL CO., LTD.

472, SONGHAK-RI, MYEONCHEON-MYEON, DANGJIN-GUN, CHUNGCHEONGNAM-DO, KOREA

TEL:+82-41-359-8000  FAX:+82-41-359-8160

 

SEJUNG CO., LTD.

606, SINNAM-RI, DUNPO-MYEON, ASAN-SI, CHUNGCHEONGNAM-DO, KOREA

TEL:+82-41-539-9899  FAX:+82-41-539-9898

 

 

Sales by Region

(Activity & Markets)

 

The Subject exports to China, Egypt and USA.

 

 

Court Action

 

Not Available.

 

 

News Clipping

 

--

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.38

UK Pound

1

Rs.72.20

Euro

1

Rs.62.87

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.