MIRA INFORM
REPORT
|
Report Date : |
12.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
HUNEED TECHNOLOGIES CO., LTD. |
|
|
|
|
Formerly Known As : |
DAEYOUNG ELECTRONICS INDUSTRIES CO., LTD. |
|
|
|
|
Registered Office : |
352, Dangjeong-dong, Gunpo-si, Gyeonggi-do, Korea, Zip Code 435-832 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
11.12.1968 |
|
|
|
|
Com. Reg. No.: |
123-81-06174 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Other Wireless Telecommunication Apparatuses |
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 |
HUNEED
TECHNOLOGIES CO., LTD. (Korean Company
Name : “(주)휴니드테크놀러지스”) |
|
Registered Address |
352, Dangjeong-dong, Gunpo-si,
Gyeonggi-do, Korea |
|
Zip Code |
435-832 |
|
Tel |
+82-31-450-2500 |
|
Fax |
+82-31-459-2540 |
|
E-mail |
|
|
Website |
|
|
Trading Address |
352, Dangjeong-dong, Gunpo-si,
Gyeonggi-do, Korea |
|
Tel |
+82-31-450-2500 |
|
Fax |
+82-31-459-2540 |
|
Other Address |
11-11, Songdo-dong, Yeonsu-gu, Incheon,
Korea |
|
Tel |
+82-32-457-6000 |
|
Fax |
+82-32-457-6040 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Other Wireless Telecommunication Apparatuses |
|
Main Business |
Optic Repeater, Wireless Installation, Military Communication System,
Fiber Optic Sensor Fence Solution |
|
Sub
Business |
Communication Equipment Installation |
|
Established (mm/dd/yyyy) |
12/11/1968 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Modulators(32101528) |
|
Sell |
Indicating and recording
instruments(41111900) |
|
Sell |
Capacitors(32121500) |
|
Sell |
Connectors(31163100) |
CEO’s
|
Name |
Kim Eu-Gene |
|
Date of Birth |
08/12/1961 |
|
Title |
Chairman & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
50,880,075,000 |
|||||||||||||||||||||
|
Employees |
248 |
|||||||||||||||||||||
|
Formation |
Listed Company(Korea Stock Exchange : 005870) as of 09/03/1991 |
|||||||||||||||||||||
|
Bank Details |
Hana Bank Shinhan Bank Korea Development Bank |
|||||||||||||||||||||
|
Corporate Registered No. |
134111-0005202 |
|||||||||||||||||||||
|
Business Registered No. |
123-81-06174 |
|||||||||||||||||||||
|
Permit & Licenses |
08/1995 ISO 9001 04/2007 ISO 14001 Int’l Trade No.: 840370 |
|||||||||||||||||||||
|
Shareholder Position |
|
|||||||||||||||||||||
|
Company History |
12/11/1968 Incorporated as DAEYOUNG
ELECTRONICS INDUSTRIES CO., LTD. 03/24/2000 Changed company name to the present
name 2007 Acquired FOMGuard Co.,
Ltd. 04/18/2007 Merged the par value to 5,000 KRW from 500 KRW 03/2008 Designated as an INNO-BIZ Company 12/2008 Awarded US$3 Million Export Top
Prize 12/2009 Awarded US$10 Million Export Top
Prize 08/11/2010 Designated as a Company of
Dishonesty Disclosure, and penalty(2 Points) by the Authority (*) It may be possible to be designated as
a watchful company if an annually accumulated point is over 15 points. |
|||||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
Chairman & CEO |
Mr. |
Kim Eu-Gene |
Korean |
1961.08.12 |
Univ. of Southern California, USA |
|
President & CEO |
Mr. |
Lee Sung-Nam |
Korean |
1956.10.02 |
- |
|
President & CEO |
Mr. |
Shin Jong-Seok |
Korean |
1972.02.06 |
- |
|
Outside Director |
Mr. |
Kang Yong-Ku |
Korean |
1967.02.11 |
- |
|
Outside Director |
Mr. |
Seo Jung-Ho |
Korean |
1969.8.20 |
- |
|
Auditor |
Mr. |
Jung Jong-Bum |
Korean |
1948.01.05 |
Long Island University, USA |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
12,576,069,147 |
138,019,911,960 |
(-)180,356,912 |
|
|
2010 |
52,749,793,111 |
139,538,605,253 |
(-)4,086,288,274 |
|
2009 |
61,170,156,506 |
117,137,943,212 |
427,567,292 |
|
2008 |
43,216,264,431 |
83,356,319,033 |
(-)10,313,410,127 |
|
2007 |
82,662,401,989 |
88,653,770,184 |
2,451,513,569 |
|
2006 |
75,059,868,675 |
94,917,601,129 |
1,559,635,925 |
|
2005 |
48,254,367,295 |
78,427,862,140 |
(-)1,638,923,875 |
Financial Description
|
Authorized Capital(KRW) |
100,000,000,000 |
|
Paid-Up Capital(KRW) |
50,880,075,000 |
|
Total Issues Shares |
10,176,015 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
01/01/2011~03/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Total Assets |
138,019,911,960 |
142,538,208,911 |
|
|
Current
Assets |
48,865,861,616 |
52,817,585,095 |
|
|
Cash & Cash Equivalents |
14,247,669,165 |
20,015,504,221 |
|
|
Trade
Receivables & Other Receivables |
12,594,797,227 |
9,530,339,741 |
|
|
Advance
Payments & Prepaid Expenses |
988,635,158 |
1,621,898,538 |
|
|
Inventories |
17,644,760,066 |
18,259,842,595 |
|
|
Other
Investment |
3,390,000,000 |
3,390,000,000 |
|
|
Non-Current Assets |
89,154,050,344 |
89,720,623,816 |
|
|
Long-Term
Trade Receivables & Other Receivables |
310,438,287 |
507,555,559 |
|
|
Marketable Financial Instruments |
4,207,748,914 |
4,240,219,264 |
|
|
Investment_Related
Companies |
0 |
0 |
|
|
Tangibles |
74,864,599,426 |
75,311,332,968 |
|
|
Intangibles |
9,757,986,357 |
9,653,899,825 |
|
|
Other
Investment |
13,277,360 |
7,616,200 |
|
|
Investment_Real Estates |
0 |
0 |
|
|
Total
Liabilities |
66,448,106,347 |
70,753,576,036 |
|
|
Current
Liabilities |
19,969,666,946 |
24,492,394,974 |
|
|
Trade Payables & Other
Payables |
3,765,357,702 |
9,151,238,532 |
|
|
Short-Term Borrowings |
5,000,000,000 |
5,000,000,000 |
|
|
Advance Receipts |
10,744,003,006 |
9,880,850,204 |
|
|
Current Portion of Long-Term Borrowings |
229,680,000 |
229,680,000 |
|
|
Provisions for Repairing |
230,626,238 |
230,626,238 |
|
|
Non-Current
Liabilities |
46,478,439,401 |
46,261,181,062 |
|
|
Long-Term Borrowings |
25,144,480,000 |
25,201,900,000 |
|
|
Bond With Warrant |
13,035,260,444 |
12,812,608,959 |
|
|
Confirmed Salaries |
609,061,271 |
547,530,180 |
|
|
Trade Payables & Other Payables |
2,531,617,361 |
2,541,121,598 |
|
|
Deferred Income Tax Credit |
5,158,020,325 |
5,158,020,325 |
|
|
Capital
Stock |
50,880,075,000 |
50,880,075,000 |
|
|
Capital Surplus |
14,063,169,066 |
13,679,169,066 |
|
|
Profit Surplus |
-10,390,565,024 |
-10,210,208,112 |
|
|
Treasury Stock |
-3,537,490,740 |
-3,537,490,740 |
|
|
Stock Options |
0 |
384,000,000 |
|
|
Others |
18,192,949,523 |
18,225,419,873 |
|
|
Accumulated Amount |
2,363,667,788 |
2,363,667,788 |
|
|
Total Equity |
71,571,805,613 |
71,784,632,875 |
|
|
Liab.
& Shareholder’s Equity |
138,019,911,960 |
142,538,208,911 |
|
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
139,538,605,253 |
117,137,943,212 |
83,356,319,033 |
|
Current Assets |
52,451,325,820 |
45,658,514,722 |
46,085,039,823 |
|
-Quick Assets |
34,191,483,225 |
34,198,091,775 |
33,197,813,704 |
|
-Inventories |
18,259,842,595 |
11,460,422,947 |
12,887,226,119 |
|
Fixed Assets |
87,087,279,433 |
71,479,428,490 |
37,271,279,210 |
|
-Investment |
4,247,219,264 |
4,958,583,253 |
1,881,987,524 |
|
-Tangibles |
75,269,694,287 |
58,559,578,218 |
19,883,941,392 |
|
-Intangibles |
6,848,522,882 |
6,454,924,019 |
5,331,081,271 |
|
-Others |
721,843,000 |
1,506,343,000 |
10,174,269,023 |
|
Total Liabilities |
67,958,510,187 |
43,073,332,267 |
28,944,488,533 |
|
Current Liabilities |
24,226,406,321 |
25,658,512,765 |
27,244,463,491 |
|
Fixed Liabilities |
43,732,103,866 |
17,414,819,502 |
1,700,025,042 |
|
Capital Stock |
50,880,075,000 |
50,880,075,000 |
50,380,075,000 |
|
Capital Surplus |
13,679,169,066 |
12,014,461,836 |
11,865,765,992 |
|
Profit Surplus |
-8,091,552,475 |
-4,005,264,201 |
-4,432,831,493 |
|
Capital Adjustment |
15,112,403,475 |
15,175,338,310 |
-3,401,178,999 |
|
Total Equity |
71,580,095,066 |
74,064,610,945 |
54,411,830,500 |
|
Liab. & Shareholder’s
Equity |
139,538,605,253 |
117,137,943,212 |
83,356,319,033 |
Income
Statement
|
|||
|
Unit : Korean Won |
01/01/2011~03/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Sales |
12,576,069,147 |
|
|
|
Cost of Sold Goods |
9,753,525,310 |
|
|
|
Gross Profit |
2,822,543,837 |
|
|
|
Selling & Admin. Expenses |
2,194,161,771 |
|
|
|
Other Operating Income |
26,176,875 |
|
|
|
Other Operating Expenses |
84,107,722 |
|
|
|
Operating Income |
570,451,219 |
|
|
|
Finance Income |
89,129,363 |
|
|
|
Finance Expenses |
878,329,102 |
|
|
|
Non-Operating Income |
44,829,198 |
|
|
|
Non-Operating Expenses |
6,437,590 |
|
|
|
Income Before Taxes |
-180,356,912 |
|
|
|
Income Taxes Expenses |
|
|
|
|
Net Income |
-180,356,912 |
|
|
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
52,749,793,111 |
61,170,156,506 |
43,216,264,431 |
|
Cost of Sold Goods |
46,376,217,895 |
48,436,781,569 |
42,359,226,095 |
|
Gross Profit |
6,373,575,216 |
12,733,374,937 |
857,038,336 |
|
Selling & Admin. Expenses |
11,548,678,179 |
11,696,297,920 |
11,302,777,163 |
|
Operating Income |
-5,175,102,963 |
1,037,077,017 |
-10,445,738,827 |
|
Non-Operating Income |
3,483,119,392 |
2,593,619,212 |
7,513,236,283 |
|
Non-Operating Expenses |
2,829,489,768 |
3,203,128,937 |
7,380,907,583 |
|
Income Before Taxes |
-4,521,473,339 |
427,567,292 |
-10,313,410,127 |
|
Income Taxes Expenses |
-435,185,065 |
0 |
0 |
|
Net Income |
-4,086,288,274 |
427,567,292 |
-10,313,410,127 |
Cash
Flows
|
|||
|
Unit : Korean Won |
01/01/2011~03/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Operating Activities Cash Flows |
-5,752,986,029 |
|
|
|
Net
Income |
-180,356,912 |
|
|
|
Adjustment |
1,431,488,682 |
|
|
|
Increase/Decrease in Assets/Liabilities |
-6,647,440,010 |
|
|
|
Interests
Received |
39,295,785 |
|
|
|
Interests
Paid |
-383,833,784 |
|
|
|
Income
Taxes |
-12,139,790 |
|
|
|
Cash
Flows from Investing |
82,211,336 |
|
|
|
Cash
Flows from Financing |
-57,420,000 |
|
|
|
Increase/Decrease
in Cash |
-5,728,194,693 |
|
|
|
Cash
at the Beginning of Year |
20,015,504,221 |
|
|
|
Cash at the End of Year |
14,247,669,165 |
|
|
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows from Operating |
3,187,826,570 |
5,515,511,335 |
-9,101,578,530 |
|
-Net Income |
-4,086,288,274 |
427,567,292 |
-10,313,410,127 |
|
-Exp. without Cash Outflow |
4,825,999,698 |
5,855,780,067 |
10,582,908,002 |
|
-Revenue without Cash Inflows |
-980,869,032 |
-551,929,597 |
-4,975,498,830 |
|
-Changes in Asset/ & Liability |
3,428,984,178 |
-215,906,427 |
-4,395,577,575 |
|
Cash Flows from Investing |
-16,549,802,077 |
-15,920,075,884 |
8,404,181,473 |
|
-Cash Inflow from Investing |
10,799,060,981 |
8,467,846,697 |
24,762,536,541 |
|
-Cash Outflows for Investing |
-27,348,863,058 |
-24,387,922,581 |
-16,358,355,068 |
|
Cash Flows from Financing |
21,833,750,246 |
8,027,459,682 |
3,942,727,853 |
|
-Cash Inflows from Financing |
34,289,576,283 |
23,698,926,082 |
9,297,528,439 |
|
-Cash Outflows from Financing |
-12,455,826,037 |
-15,671,466,400 |
-5,354,800,586 |
|
Increase/Decrease in Cash |
8,471,774,739 |
-2,377,104,867 |
3,245,330,796 |
|
Cash at the Beginning of Year |
11,543,729,482 |
13,920,834,349 |
10,675,503,553 |
|
Cash at the End of Year |
20,015,504,221 |
11,543,729,482 |
13,920,834,349 |
Products, Technologies, Services Description
|
Main Products & Services |
HCTR (High Capacity Trunk Radio) TRU(Transmit Receive Unit) Total Security Solution Provider |
Trade Partners & Competitors
|
Suppliers |
CHOONGMOO PRECISION CO., LTD.(110111-0869961) YEONHAB PRECISION CO., LTD.(124311-0015027) ELECTRO COMM MYTECH CORP. SELECTRON ARISTAR CORP. |
|
Customers |
THE BOEING COMPANY(USA) TRISFC(SAUDI ARABIA) ELTA SYSTEMS(ISRAEL) DAPA(DEFENSE ACQUISITION PROGRAM ADMINISTRATION),
REPUBLIC OF KOREA HANJIN HEAVY INDUSTRIES & CONSTRUCTION
CO., LTD.(180111-0602507) |
|
Competitors |
KISAN TELECOM CO., LTD. 11TH FL., SEGI BLDG., 66-2, BANGI 2-DONG,
SONGPA-GU, SEOUL, KOREA TEL:+82-2-3433-8200 FAX:+82-2-3433-8340 INKEL COPORATION 177, CHEONGCHEON 2-DONG, BUPYEONG-GU,
INCHEON, KOREA TEL:+82-32-650-6000 FAX:+82-32-650-6450 AIRTEC SYSTEM CO., LTD. 196-1, IMOK-DONG, JANGAN-GU, SUWON-SI,
GYEONGGI-DO, KOREA TEL:+82-31-246-9977 FAX:+82-31-246-9979 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Overseas Office |
HUNEED TECHNOLOGIES. ISRAEL (100.0% held by the subject company) |
|
Cooperative Enterprise |
- Teaming Agreement with THE BOEING COMPANY(USA) - TRS Agreement with MOTOROLA - Distributorship Agreement TRISFC -Insured Company LIG INSURANCE CO., LTD(110111-0017859) |
Sales by Region
(Activity & Markets)
|
Sales/ Unit :Mil KRW |
03/2011 |
2010 |
2009 |
|
Export |
4,773 |
9,165 |
22,565 |
|
Domestic |
7,803 |
43,585 |
38,605 |
|
Total |
12,576 |
52,750 |
61,170 |
The Subject exports
to Israel, Italy and USA.
Court Action
|
Case No. |
Court |
Plaintiff(s)/
Creditor(s)/ Applicant(s) |
Defendant(s)/
Debtor(s)/ Respondent(s) |
Cause |
Amount (Million KRW) |
Status |
|
|
|
Hanil Telecommunication Co., Ltd.(Korea) |
The Subject Company |
Additional Payment |
373 |
Proceeding |
|
|
|
Hwain Construction Co., Ltd.(Korea) |
The Subject Company |
Claim for Compensation for Damages |
1,652 |
Proceeding |
News Clipping
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.27 |
|
UK Pound |
1 |
Rs.73.34 |
|
Euro |
1 |
Rs.64.58 |
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.