MIRA INFORM
REPORT
|
Report Date : |
17.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
SAMBO INDUSTRIAL CO., LTD. |
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Registered Office : |
360-2, Namyang-dong, Jinhae-gu, Changwon-si, Gyeongsangnam-do, Korea,
Zip Code 645-480 |
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Country : |
South Korea |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
08.02.1974 |
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Com. Reg. No.: |
609-81-16685 |
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Legal Form : |
Listed Company |
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Line of Business : |
Manufacture of Smelting, Refining and Alloys of Aluminum |
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
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 |
SAMBO INDUSTRIAL CO., LTD. (Korean Company Name : “삼보산업(주)”) |
|
Registered Address |
360-2, Namyang-dong, Jinhae-gu,
Changwon-si, Gyeongsangnam-do, Korea |
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Zip Code |
645-480 |
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Tel |
+82-55-552-7130~4 |
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Fax |
+82-55-552-7135 |
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Website |
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Trading Address |
360-2, Namyang-dong, Jinhae-gu,
Changwon-si, Gyeongsangnam-do, Korea |
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Tel |
+82-55-552-7130~4 |
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Fax |
+82-55-552-7135 |
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Type |
Export/Import |
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Industry |
Manufacture of Smelting, Refining and Alloys of Aluminum |
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Main Business |
Aluminium Alloy Ingot, Aluminium Wheel |
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Established (mm/dd/yyyy) |
02/08/1974 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Aluminum ingots(30103401) |
|
Buy |
Metal scrap(11191600) |
|
Buy |
Chemistry reagents or solutions(41116105) |
|
Buy |
Silicone VMQ and PMQ and PVMQ(13101708) |
CEO’s
|
Name |
Lee Tae-Yong |
|
Date of Birth |
09/07/1960 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
|
Capital (KRW) |
700,000,000 |
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Employees |
107 |
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Formation |
Listed Company (KOSDAQ : 009620) as of 11/30/1993 |
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Bank Details |
Shinhan Bank Busan Bank |
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Corporate Registered No. |
180111-0020246 |
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Business Registered No. |
609-81-16685 |
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Permit & Licenses |
03/28/2006 ISO/TS 16949 Int’l Trade No.: 853532 |
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Shareholder Position |
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Company History |
02/08/1974 Incorporated as the present name 12/31/2008 Designated as a Venture Business |
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Management
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Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
President & CEO |
Mr. |
Lee Tae-Yong |
Korean |
1960.09.07 |
Long Island University, USA |
|
Auditor |
Mr. |
Lee Soo-Yong |
Korean |
1954.08.05 |
Kyungbuk National University, Korea |
|
Sr. Executive Director |
Mr. |
Choi Chan-Kyu |
Korean |
1961.06.03 |
Busan National University, Korea |
|
Director |
Mr. |
Jung Seung-Ho |
Korean |
1960.06.01 |
Yonsei University, Korea |
|
Outside Director |
Mr. |
Kim Tae-Kyung |
Korean |
1961.07.06 |
- |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
73,948,485,926 |
125,366,210,980 |
2,625,539,173 |
|
|
2010 |
283,219,318,110 |
98,643,008,905 |
5,757,032,461 |
|
2009 |
180,629,518,863 |
87,916,963,945 |
4,881,644,944 |
|
2008 |
272,657,157,541 |
87,221,642,006 |
-19,703,124,719 |
(*)03/2011's
figures are based on the K-IFRS Accounting System.
Financial Description
|
Authorized Capital(KRW) |
70,000,000,000 |
|
Paid-Up Capital(KRW) |
700,000,000 |
|
Total Issues Shares |
1,400,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
01/01/2010~03/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Total Assets |
125,366,210,980 |
117,166,135,761 |
|
|
Current
Assets |
80,326,747,949 |
71,714,366,232 |
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|
Cash & Cash Equivalents |
1,037,285,737 |
158,828,815 |
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Trade Receivables & Other
Receivables |
52,313,886,089 |
49,716,779,328 |
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Other Current Financial
Instruments |
250,000,000 |
190,000,000 |
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Prepaid Taxes |
25,556,770 |
15,464,940 |
|
|
Inventories |
24,948,356,806 |
20,109,968,260 |
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Other
Assets |
1,751,662,547 |
1,523,324,889 |
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Non-Current Assets |
45,039,463,031 |
45,451,769,529 |
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Investment_Related
Companies |
3,798,924,415 |
3,798,924,415 |
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Other
Non-Current Finance Assets |
2,307,273,850 |
2,691,853,206 |
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Tangibles |
37,141,772,036 |
37,169,499,178 |
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Intangibles |
659,404,000 |
659,404,000 |
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Other
Assets |
72,571,760 |
72,571,760 |
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Deferred
Income Tax Assets |
1,059,516,970 |
1,059,516,970 |
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Total Liabilities |
101,610,719,290 |
96,036,183,244 |
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Current Liabilities |
97,715,590,547 |
91,604,033,964 |
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Trade
Payables & Other Payables |
15,824,152,569 |
12,625,566,268 |
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Short-Term
Borrowings |
81,754,090,569 |
78,816,053,715 |
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Other
Current Non-Financial Debts |
137,347,409 |
162,413,981 |
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Non-Current Liabilities |
3,895,128,743 |
4,432,149,280 |
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Long-Term
Borrowings |
2,290,600,000 |
2,796,000,000 |
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Provision
for Severance & Retirement |
1,604,528,743 |
1,636,149,280 |
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Capital Stock |
700,000,000 |
700,000,000 |
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Others |
2,345,390,824 |
2,345,390,824 |
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Profit
Surplus |
20,710,100,866 |
18,084,561,693 |
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Total
Equity |
23,755,491,690 |
21,129,952,517 |
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Liab.
& Shareholder’s Equity |
125,366,210,980 |
117,166,135,761 |
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Balance Sheet |
|||
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Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
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Total Assets |
98,643,008,905 |
87,916,963,945 |
87,221,642,006 |
|
Current Assets |
54,376,728,831 |
47,269,449,089 |
46,126,015,185 |
|
-Quick Assets |
34,266,760,571 |
28,553,891,773 |
30,840,327,557 |
|
-Inventories |
20,109,968,260 |
18,715,557,316 |
15,285,687,628 |
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Fixed Assets |
44,266,280,074 |
40,647,514,856 |
41,095,626,821 |
|
-Investment |
7,076,963,093 |
6,190,552,045 |
5,567,240,858 |
|
-Tangibles |
36,457,341,221 |
33,727,237,051 |
34,798,660,203 |
|
-Intangibles |
731,975,760 |
729,725,760 |
729,725,760 |
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Total Liabilities |
78,179,730,507 |
74,699,071,200 |
78,929,933,072 |
|
Current Liabilities |
72,712,321,846 |
72,785,175,284 |
77,281,746,161 |
|
Fixed Liabilities |
5,467,408,661 |
1,913,895,916 |
1,648,186,911 |
|
Capital Stock |
700,000,000 |
700,000,000 |
700,000,000 |
|
Capital Surplus |
2,345,390,824 |
2,345,390,824 |
2,345,390,824 |
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Profit Surplus |
5,670,155,599 |
-86,876,862 |
-4,968,521,806 |
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Capital Adjustment |
11,747,731,975 |
10,259,378,783 |
10,214,839,916 |
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Total Equity |
20,463,278,398 |
13,217,892,745 |
8,291,708,934 |
|
Liab. &
Shareholder’s Equity |
98,643,008,905 |
87,916,963,945 |
87,221,642,006 |
Income
Statement
|
|||
|
Unit : Korean Won |
01/01/2010~03/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
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Sales |
73,948,485,926 |
|
|
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Cost of Sold Goods |
70,189,263,654 |
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|
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Gross Profit |
3,759,222,272 |
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Other Operating Income |
-1,251,341,779 |
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Other Profits |
2,009,887 |
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Selling & Admin. Expenses |
1,252,929,135 |
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Other Expenses |
422,531 |
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Operating Income |
2,507,880,493 |
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|
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Finance Income |
1,262,247,787 |
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|
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Finance Expenses |
1,144,589,107 |
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|
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Income Before Taxes |
2,625,539,173 |
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Income Taxes Expenses |
0 |
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Net Income |
2,625,539,173 |
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Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
283,219,318,110 |
180,629,518,863 |
272,657,157,541 |
|
Cost of Sold Goods |
268,162,521,173 |
168,016,012,697 |
277,350,014,029 |
|
Gross Profit |
15,056,796,937 |
12,613,506,166 |
-4,692,856,488 |
|
Selling & Admin. Expenses |
5,877,610,855 |
5,138,597,647 |
5,859,261,369 |
|
Operating Income |
9,179,186,082 |
7,474,908,519 |
-10,552,117,857 |
|
Non-Operating Income |
3,889,647,681 |
7,079,405,719 |
4,359,455,711 |
|
Non-Operating Expenses |
7,529,275,220 |
9,683,177,627 |
15,680,548,904 |
|
Income Before Taxes |
5,539,558,543 |
4,871,136,611 |
-21,873,211,050 |
|
Income Taxes Expenses |
-217,473,918 |
-10,508,333 |
-2,170,086,331 |
|
Net Income |
5,757,032,461 |
4,881,644,944 |
-19,703,124,719 |
Cash
Flows
|
|||
|
Unit : Korean Won |
01/01/2010~03/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Operating
Activities Cash Flows |
-978,958,536 |
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|
|
Net Income |
2,625,539,173 |
|
|
|
Adjustment |
-3,604,497,709 |
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|
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Cash Flows from Investing |
-259,474,138 |
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|
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Cash Flows from Financing |
2,116,889,596 |
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|
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Increase/Decrease in Cash |
878,456,922 |
|
|
|
Cash at the Beginning of Year |
158,828,815 |
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|
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Cash at the End of Year |
1,037,285,737 |
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|
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows from Operating |
-197,099,013 |
8,725,089,612 |
-11,531,413,074 |
|
-Net Income |
5,757,032,461 |
4,881,644,944 |
-19,703,124,719 |
|
-Exp.
without Cash Outflow |
5,655,506,442 |
5,529,428,460 |
4,977,439,486 |
|
-Revenue
without Cash Inflows |
-2,314,737,120 |
-2,596,591,802 |
-2,275,911,756 |
|
-Changes in
Asset/ & Liability |
-9,294,900,796 |
910,608,010 |
5,470,183,915 |
|
Cash Flows
from Investing |
-4,567,777,254 |
490,970,179 |
-3,760,969,841 |
|
-Cash Inflow
from Investing |
999,685,441 |
1,993,891,903 |
2,976,243,936 |
|
-Cash
Outflows for Investing |
-5,567,462,695 |
-1,502,921,724 |
-6,737,213,777 |
|
Cash Flows
from Financing |
4,133,046,734 |
-8,649,473,932 |
11,425,467,720 |
|
-Cash
Inflows from Financing |
100,724,646,573 |
2,500,000,000 |
12,012,297,720 |
|
-Cash
Outflows from Financing |
-96,591,599,839 |
-11,149,473,932 |
-586,830,000 |
|
Increase/Decrease
in Cash |
-631,829,533 |
566,585,859 |
-3,866,915,195 |
|
Cash at the
Beginning of Year |
790,658,348 |
224,072,489 |
4,090,987,684 |
|
Cash at the End of Year |
158,828,815 |
790,658,348 |
224,072,489 |
Products, Technologies, Services Description
|
Main Products & Services |
Aluminium Alloy Ingot, Aluminium Wheel |
Trade Partners & Competitors
|
Competitors |
DONGIL INDUSTRIES CO., LTD. 800, JANGHEUNG-DONG, NAM-GU, POHANG-SI,
GYEONGSANGBUK-DO, KOREA TEL:+82-54-285-3201 FAX:+82-54-285-4151 MECHEM KOREA CO., LTD. 9TH FL., ILJIN BLDG., 50-1, DOHWA-DONG,
MAPO-GU, SEOUL, KOREA TEL:+82-2-323-5193 FAX:+82-2-323-5195 TAEKYUNG INDUSTRIAL CO., LTD. 478-6, SIN-DONG, YEONGTONG-GU, SUWON-SI,
GYEONGGI-DO, KOREA TEL:+82-31-206-0071~2 FAX:+82-31-206-0074 |
Related Parties
(Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
HANSUNG INDUSTRY CO., LTD.(KOREA) (50.22% held by the subject company) CIMAXCOMMUNICATIONS CO., LTD.(110111-1674781) (27.29% held by the subject company) |
|
Cooperative Enterprise |
-Insured Company HANWHA GENERAL INSURANCE CO., LTD.(110111-0006456) |
Sales by Region
(Activity & Markets)
|
Sales/ Unit :Mil KRW |
03/2011 |
2010 |
2009 |
|
Export |
17,033 |
78,638 |
65,865 |
|
Domestic |
56,915 |
204,581 |
114,765 |
|
Total |
73,948 |
283,219 |
180,630 |
Not Available.
Court Action
No.
News Clipping
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.25 |
|
UK Pound |
1 |
Rs.73.88 |
|
Euro |
1 |
Rs.65.06 |
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.