MIRA INFORM REPORT
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Report Date : |
09.08.2011 |
IDENTIFICATION DETAILS
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Name : |
GENIX CO., LTD. |
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Registered Office : |
1262-6, Jeongwang 2-dong, Siheung-si, Gyeonggi-do, Korea, 2Na-607, Sihwa Industrial Complex, Zip Code 429-922 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
24.09.2004 |
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Com. Reg. No.: |
140-81-03769 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Manufacture of Other General- Purpose Machinery |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Poor |
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Payment
Behaviour : |
Unknown |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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South Korea |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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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 |
GENIX CO., LTD. (Korean Company
Name : “(주)제닉스”) |
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Registered Address |
1262-6, Jeongwang 2-dong, Siheung-si,
Gyeonggi-do, Korea |
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Building |
2Na-607, Sihwa Industrial Complex |
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Zip Code |
429-922 |
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Tel |
+82-31-362-0400 |
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Fax |
+82-31-362-0499 |
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E-mail |
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Website |
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Trading Address |
2Na-607, Sihwa Industrial Complex, 1262-6,
Jeongwang 2-dong, Siheung-si, Gyeonggi-do, Korea |
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Tel |
+82-31-362-0400 |
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Fax |
+82-31-362-0499 |
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Type |
Export |
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Industry |
Manufacture of Other General- Purpose Machinery n.e.c. |
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Main Business |
Automotive Body & Parts line Equipment |
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Established (mm/dd/yyyy) |
09/24/2004 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
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Sell |
Vehicle servicing equipment(25191700) |
CEO’s
|
Name |
Kim Jong-Jin |
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Address |
Suite 805-101, 1269, Jeongbalsan-dong,
Ilsandong-gu, Goyang-si, Gyeonggi-do, Korea |
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Date of Birth |
04/26/1958 |
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Title |
President & CEO / Trustee |
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Sex |
Male |
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Nationality |
Korean |
Profiles
|
Capital (KRW) |
1,154,735,000 |
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Employees |
107 |
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Formation |
Co., Ltd by Shares Venture Business |
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Bank Details |
Shinhan Bank Hana Bank Korea Exchange Bank-Sihwa Industrial
Complex Branch Kookmin Bank |
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Corporate Registered No. |
135511-0153599 |
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Business Registered No. |
140-81-03769 |
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Permit & Licenses |
Int’l Trade No.: 30376773 |
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Shareholder Position |
(*)The list is based as of 12/31/2010. |
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Company History |
09/24/2004 Incorporated as the present name 04/10/2007 Moved to the present HQ address
from 1Na-503, Sihwa Industrial Complex, 1254-2, Jeongwang-dong,
Siheung-si, Gyeonggi-do, Korea 05/30/2008 Increased the authorized shares to 2,000,000 shares from
500,000 shares 12/30/2008 Increased capital to 2,200,000,000 KRW from 1,950,000,000
KRW 07/20/2009 Applied Work-Out Program to
Shinhan Bank, Primary Bank of the subject company 11/04/2009 Agreed to normalize the business
operation with Creditors 12/15/209 Applied Corporate Reviving
Program to Suwon District Court 01/22/2010 Approved to start the Corporate
Reviving Program by Suwon District Court(2009 HOIHAP 73) 01/19/2011
Decided to be approved of Corporate Reviving Plan(2009HOIHAP73) 01/20/2011 Decreased capital to 1,154,735,000 KRW from 2,200,000,000 KRW |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO / Trustee |
Mr. |
Kim Jong-Jin |
Male |
Korean |
03/25/2008 |
|
Director |
Mr. |
Jung Kyu-Young |
Male |
Korean |
03/25/2008 |
|
Director |
Mr. |
Cho Keon-Hee |
Male |
Korean |
06/30/2009 |
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Auditor |
Mr. |
Jung Heung-Kyun |
Male |
Korean |
02/14/2011 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
1,553,124,331 |
22,133,762,995 |
-27,747,350,524 |
|
|
2009 |
8,804,664,965 |
43,653,096,883 |
-13,932,586,758 |
|
2008 |
83,914,652,404 |
57,738,928,448 |
1,972,201,977 |
|
2007 |
34,262,733,919 |
39,531,695,691 |
1,683,160,305 |
|
2006 |
22,631,167,024 |
18,285,604,830 |
1,492,962,285 |
Financial Description
|
Authorized Capital(KRW) |
2,500,000,000 |
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Paid-Up Capital(KRW) |
1,154,735,000 |
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Total Issues Shares |
230,947 |
Balance
Sheet
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Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
22,133,762,995 |
43,653,096,883 |
57,738,928,448 |
|
Current Assets |
4,277,480,007 |
25,113,047,792 |
37,770,612,653 |
|
-Quick Assets |
4,277,480,007 |
25,113,047,792 |
37,770,612,653 |
|
-Inventories |
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Fixed Assets |
17,856,282,988 |
18,540,049,091 |
19,968,315,795 |
|
-Investment |
91,822,857 |
91,822,857 |
408,352,857 |
|
-Tangibles |
17,135,451,973 |
17,554,357,646 |
18,687,921,633 |
|
-Intangibles |
510,644,088 |
731,343,588 |
652,432,088 |
|
-Others |
118,364,070 |
162,525,000 |
219,609,217 |
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Total Liabilities |
49,469,464,801 |
43,241,448,165 |
42,799,682,972 |
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Current Liabilities |
40,178,205,404 |
31,997,428,133 |
30,607,279,649 |
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Fixed Liabilities |
9,291,259,397 |
11,244,020,032 |
12,192,403,323 |
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Capital Stock |
2,200,000,000 |
2,200,000,000 |
2,200,000,000 |
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Capital Surplus |
3,008,380,535 |
3,008,380,535 |
3,008,380,535 |
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Profit Surplus |
-35,590,557,241 |
-7,843,206,717 |
6,089,380,041 |
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Capital Adjustment |
3,046,474,900 |
3,046,474,900 |
3,641,484,900 |
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Total Equity |
-27,335,701,806 |
411,648,718 |
14,939,245,476 |
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Liab. &
Shareholder’s Equity |
22,133,762,995 |
43,653,096,883 |
57,738,928,448 |
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Current
Liabilities |
40,178,205,404 |
31,997,428,133 |
30,607,279,649 |
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Trade Payables |
7,108,610,140 |
6,889,826,489 |
11,389,976,542 |
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Account Payables |
5,769,946,980 |
694,725,873 |
127,174,300 |
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Withholdings |
176,451,140 |
163,981,540 |
55,289,640 |
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Advance Receipts |
1,074,706,234 |
2,824,373,020 |
1,458,327,867 |
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Short-Term Borrowings |
16,139,872,991 |
14,821,798,229 |
11,630,485,700 |
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Accrued Income Tax |
- |
- |
52,631,082 |
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Accrued Expenses |
1,872,050,478 |
2,217,354,695 |
432,240,697 |
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Current Portion of Long-Term Debts |
289,067,293 |
289,067,293 |
816,400,000 |
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Current Portion of Debentures |
1,200,000,000 |
1,200,000,000 |
800,000,000 |
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Current Portion of Bond With Warrant |
600,000,000 |
600,000,000 |
800,000,000 |
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Current Portion of Convertible Bonds |
3,058,461,867 |
1,658,461,867 |
2,800,000,000 |
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Current Portion of Lease Account Payables |
92,043,714 |
148,472,436 |
190,585,208 |
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Short-Term Borrowings to Shareholders/
Executives/ Employees |
2,359,768,360 |
328,693,729 |
- |
|
Fixed
Liabilities |
9,291,259,397 |
11,244,020,032 |
12,192,403,323 |
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Convertible Bonds |
- |
1,400,000,000 |
1,400,000,000 |
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Debentures |
- |
- |
800,000,000 |
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Long-Term Borrowings |
8,908,600,000 |
8,908,600,000 |
8,908,600,000 |
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Leasehold Deposit Received |
235,000,000 |
169,000,000 |
125,000,000 |
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Provision for Severance & Retirement |
166,694,441 |
741,478,391 |
382,808,881 |
Income
Statement
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Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
1,553,124,331 |
8,804,664,965 |
83,914,652,404 |
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Cost of Sold Goods |
2,852,317,992 |
13,282,492,511 |
77,150,847,842 |
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Gross Profit |
-1,299,193,661 |
-4,477,827,546 |
6,763,804,562 |
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Selling & Admin. Expenses |
18,436,680,586 |
2,972,811,995 |
4,576,667,600 |
|
Operating Income |
-19,735,874,247 |
-7,450,639,541 |
2,187,136,962 |
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Non-Operating Income |
1,028,048,954 |
744,609,809 |
4,719,172,830 |
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Non-Operating Expenses |
9,185,858,484 |
7,226,557,026 |
4,668,167,996 |
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Income Before Taxes |
-27,893,683,777 |
-13,932,586,758 |
2,238,141,796 |
|
Income Taxes Expenses |
-146,333,253 |
- |
265,939,819 |
|
Net Income |
-27,747,350,524 |
-13,932,586,758 |
1,972,201,977 |
Cash
Flows
|
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|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows from Operating |
751,690,960 |
-3,089,631,348 |
-7,708,971,621 |
|
-Net Income |
-27,747,350,524 |
-13,932,586,758 |
1,972,201,977 |
|
-Exp. without Cash Outflow |
20,955,970,801 |
6,849,566,585 |
3,084,840,160 |
|
-Revenue without Cash Inflows |
-655,209,945 |
-1,542,457 |
-2,975,769,876 |
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-Changes in Asset/ & Liability |
8,198,280,628 |
3,994,931,282 |
-9,790,243,882 |
|
Cash Flows from Investing |
28,616,914 |
1,119,290,181 |
-1,001,169,879 |
|
-Cash Inflow from Investing |
73,350,930 |
2,180,944,217 |
4,709,201,218 |
|
-Cash Outflows for Investing |
-44,734,016 |
-1,061,654,036 |
-5,710,371,097 |
|
Cash Flows from Financing |
9,571,278 |
454,120,304 |
10,153,580,635 |
|
-Cash Inflows from Financing |
66,000,000 |
6,401,748,849 |
39,491,889,004 |
|
-Cash Outflows from Financing |
-56,428,722 |
-5,947,628,545 |
-29,338,308,369 |
|
Increase/Decrease in Cash |
789,879,152 |
-1,516,220,863 |
1,443,439,135 |
|
Cash at the Beginning of Year |
52,851,209 |
1,569,072,072 |
125,632,937 |
|
Cash at the End of Year |
842,730,361 |
52,851,209 |
1,569,072,072 |
(*)The Subject
needs to be monitored because Current Liabilities exceed Current Assets as much
as 35,901,000,000 KRW, Total Liabilities exceed Total Assets as much as 27,336,000,000
KRW.
Products, Technologies, Services Description
|
Main Products & Services |
Automotive Body & Parts line Equipment |
Trade Partners & Competitors
|
Suppliers |
HYUNDAI CAPITAL SERVICES, INC.(110111-0995378) provides the vehicle
leasing services to the subject company. |
|
Customers |
HYUNDAI MOTOR COMPANY(110111-0085450) KIA MOTORS CORPORATION(110111-0037998) GM DAEWOO AUTO & TECHNOLOGY CO.,
LTD.(120111-0294124) RENAULT SAMSUNG MOTORS CO.,
LTD.(180111-0330380) |
|
Competitors |
KSC CO., LTD. 977-3, GEUMSAN-RI, WAEGWAN-EUP,
CHILGOK-GUN, GYEONGSANGBUK-DO, KOREA TEL:+82-54-972-3000 FAX:+82-54-972-0333 DELPHI KOREA CORP. 408-1, MABUK-DONG, GIHEUNG-GU, YONGIN-SI,
GYEONGGI-DO, KOREA TEL:+82-31-899-5000 FAX:+82-31-899-5429 CHANG-IL MACHINE CO., LTD. 61-13, PALYONG-DONG, CHANGWON-SI,
GYEONGSANGNAM-DO, KOREA TEL:+82-55-297-2333 FAX:+82-55-292-2497 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
GENIX AUTOMATION PRIVATE LIMITED (10.0% held by the subject company) GENIX SOLUTION CO., LTD.(131411-0182578) GNT CO., LTD.(KOREA) |
|
Cooperative Enterprise |
-Insured Company HYUNDAI MARINE & FIRE INSURANCE CO., LTD.(110111-0035893) |
Sales by Region
(Activity & Markets)
Not Available.
Court Action
|
Case No. |
Court |
Plaintiff(s)/
Creditor(s)/ Applicant(s) |
Defendant(s)/
Debtor(s)/ Respondent(s) |
Cause |
Amount (Million KRW) |
Status |
|
|
|
The Subject |
Daihan Electro-Machinery Co., Ltd.(Korea) |
Receivables |
56 |
1st round is proceeding. |
News Clipping
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.96 |
|
UK Pound |
1 |
Rs.73.94 |
|
Euro |
1 |
Rs.64.56 |
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.