MIRA INFORM REPORT
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Report Date : |
22.04.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
SEM INC. |
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Registered Office : |
1250-2, Jeongwang 3-dong, Siheung-si, Gyeonggi-do, Korea, 1Ra-408, Sihwa
Industrial Complex, Zip Code 429-914 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
01.07.2000 |
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Com. Reg. No.: |
105-86-14410 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Manufacture of Synthetic Colouring Matter, Tanning Materials and Other Coloring Agents |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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 |
SEM INC. (Korean Company
Name : “(주)에스이엠”) |
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Registered Address |
1250-2, Jeongwang 3-dong, Siheung-si,
Gyeonggi-do, Korea |
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Building |
1Ra-408, Sihwa Industrial Complex |
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Zip Code |
429-914 |
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Tel |
+82-31-434-8390 |
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Fax |
+82-31-434-8394 |
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E-mail |
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Trading Address |
1Ra-408, Sihwa Industrial Complex, 1250-2,
Jeongwang 3-dong, Siheung-si, Gyeonggi-do, Korea |
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Tel |
+82-31-434-8390 |
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Fax |
+82-31-434-8394 |
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Type |
Export |
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Industry |
Manufacture of Synthetic Colouring Matter, Tanning Materials and Other
Coloring Agents |
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Main Business |
Dye |
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Established (mm/dd/yyyy) |
07/01/2000 |
Detailed
Products
|
Activity |
Detailed Products (UNSPSC) |
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Sell |
Dyes(12171500) |
CEO’s
|
Name |
Jeong Jin-Uk |
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Address |
A-406, 467, Dogok-dong,
Gangnam-gu, Seoul, Korea |
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Date of Birth |
09/17/1971 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
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Capital (KRW) |
500,000,000 |
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Employees |
27 |
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Formation |
Co., Ltd by Shares |
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Bank Details |
Industrial Bank of Korea Shinhan Bank |
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Corporate Registered No. |
110111-2013681 |
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Business Registered No. |
105-86-14410 |
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Permit & Licenses |
N/A |
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Shareholder Position |
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Company History |
07/01/2000 Incorporated as the present name 09/06/2002 Increased the authorized shares
to 300,000 shares from 40,000 shares 09/07/2002 Increased capital to 500,000,000
KRW from 50,000,000 KRW 05/11/2006 Moved to the present HQ address
from1Ra- 404, Sihwa Industrial Complex, 1250-2, Jeongwang 3-dong, Siheung-si,
Gyeonggi-do, Korea |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
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President & CEO |
Mr. |
Jeong Jin-Uk |
Male |
Korean |
02/28/2005 |
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Director |
Mr. |
Kim Sam-Deuck |
Male |
Korean |
07/01/2000 |
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Director |
Mr. |
Park Chul-Soon |
Male |
Korean |
07/01/2003 |
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Auditor |
M/S. |
Jung Ji-Na |
Female |
Korean |
03/31/2008 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
8,473,454,943 |
14,364,692,471 |
1,711,323,233 |
|
|
2009 |
5,025,321,170 |
13,492,048,762 |
1,374,215,003 |
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2008 |
3,995,589,652 |
12,462,856,112 |
515,401,772 |
|
2007 |
3,039,170,989 |
13,018,726,326 |
113,507,102 |
|
2006 |
1,344,338,733 |
13,387,147,462 |
137,526,285 |
Financial
Description
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Authorized Capital(KRW) |
1,500,000,000 |
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Paid-Up Capital(KRW) |
500,000,000 |
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Total Issues Shares |
100,000 |
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 |
14,364,692,471 |
13,492,048,762 |
12,462,856,112 |
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Current Assets |
2,584,954,206 |
1,406,357,989 |
803,914,300 |
|
-Quick Assets |
1,841,325,556 |
1,053,637,804 |
754,083,199 |
|
-Inventories |
743,628,650 |
352,720,185 |
49,831,101 |
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Fixed Assets |
11,779,738,265 |
12,085,690,773 |
11,658,941,812 |
|
-Investment |
54,894,960 |
99,800,000 |
125,600,000 |
|
-Tangibles |
11,721,603,305 |
11,985,890,773 |
11,533,341,812 |
|
-Intangibles |
3,240,000 |
- |
- |
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Total Liabilities |
9,691,521,174 |
10,230,200,698 |
10,575,223,051 |
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Current Liabilities |
8,956,637,752 |
8,476,736,002 |
7,265,047,009 |
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Fixed Liabilities |
734,883,422 |
1,753,464,696 |
3,310,176,042 |
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Capital Stock |
500,000,000 |
500,000,000 |
500,000,000 |
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Capital Surplus |
- |
- |
- |
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Profit Surplus |
4,173,171,297 |
2,761,848,064 |
1,387,633,061 |
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Capital Adjustment |
- |
- |
- |
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Total Equity |
4,673,171,297 |
3,261,848,064 |
1,887,633,061 |
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Liab. & Shareholder’s Equity |
14,364,692,471 |
13,492,048,762 |
12,462,856,112 |
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Current Liabilities |
8,956,637,752 |
8,476,736,002 |
7,265,047,009 |
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Trade Payables |
236,334,928 |
198,533,432 |
45,828,420 |
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Withholdings |
98,059,780 |
10,580,800 |
48,026,500 |
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Short-Term Borrowings |
3,737,991,292 |
2,450,000,000 |
2,350,000,000 |
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Accrued Expenses |
137,473,392 |
366,671,046 |
120,219,638 |
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Current Portion of Long-Term Debts |
2,115,200,000 |
3,057,790,000 |
2,428,600,000 |
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Short-Term Borrowings to Shareholders/ Executives/
Employees |
2,100,000,000 |
2,100,000,000 |
2,100,000,000 |
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Accrued Dividends |
253,800,000 |
- |
- |
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Accrued Income Tax |
277,778,360 |
293,160,724 |
172,372,451 |
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Fixed Liabilities |
734,883,422 |
1,753,464,696 |
3,310,176,042 |
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Long-Term Borrowings |
316,910,000 |
1,432,130,000 |
2,999,940,000 |
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Leasehold Deposit Received |
161,250,000 |
157,250,000 |
194,250,000 |
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Provision for Severance & Retirement |
259,241,822 |
164,153,996 |
115,986,042 |
Income Statement
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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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Sales |
8,473,454,943 |
5,025,321,170 |
3,995,589,652 |
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Cost of Sold Goods |
5,679,527,638 |
2,644,721,184 |
2,557,982,488 |
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Gross Profit |
2,793,927,305 |
2,380,599,986 |
1,437,607,164 |
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Selling & Admin. Expenses |
378,143,630 |
273,652,777 |
247,804,259 |
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Operating Income |
2,415,783,675 |
2,106,947,209 |
1,189,802,905 |
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Non-Operating Income |
61,997,480 |
39,700,896 |
57,165,438 |
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Non-Operating Expenses |
319,722,042 |
399,026,838 |
468,551,503 |
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Ordinary Income |
2,158,059,113 |
1,747,621,267 |
778,416,840 |
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Special Income |
- |
- |
- |
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Income Before Taxes |
2,158,059,113 |
1,747,621,267 |
778,416,840 |
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Income Taxes Expenses |
446,735,880 |
373,406,264 |
263,015,068 |
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Net Income |
1,711,323,233 |
1,374,215,003 |
515,401,772 |
Cash Flows
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows from Operating |
882,107,243 |
1,659,292,249 |
1,191,165,108 |
|
-Net Income |
1,711,323,233 |
1,374,215,003 |
515,401,772 |
|
-Exp. without Cash Outflow |
373,649,380 |
398,719,801 |
488,593,463 |
|
-Sale
without Cash Inflows |
-3,452,314 |
- |
-647,844 |
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-Changes in Asset/ & Liability |
-1,199,413,056 |
-113,642,555 |
187,817,717 |
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Cash Flows from Investing |
32,514,940 |
-661,953,790 |
-112,479,000 |
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-Cash Inflow from Investing |
96,000,000 |
226,800,000 |
204,346,000 |
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-Cash Outflows for Investing |
-63,485,060 |
-888,753,790 |
-316,825,000 |
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Cash Flows from Financing |
-808,619,442 |
-875,620,000 |
-1,268,860,000 |
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-Cash Inflows from Financing |
2,493,333,058 |
801,000,000 |
1,812,600,000 |
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-Cash Outflows from Financing |
-3,301,952,500 |
-1,676,620,000 |
-3,081,460,000 |
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Increase/Decrease in Cash |
106,002,741 |
121,718,459 |
-190,173,892 |
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Cash at the Beginning of Year |
254,587,682 |
132,869,223 |
323,043,115 |
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Cash at the End of Year |
360,590,423 |
254,587,682 |
132,869,223 |
Products, Technologies, Services
Description
|
Main Products & Services |
Dye |
Trade
Partners & Competitors
|
Competitors |
KYUNGIN SYNTHETIC
CORPORATION(120111-0005703) RIFA INDUSTRIAL CO., LTD.(110111-0018138) M.DOHMENKOREA, LTD.(110111-2189953) |
Related
Parties
(Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
OH YOUNG INDUSTRIAL CO., LTD.(115611-0001071) |
|
Cooperative Enterprise |
-Insured Company LIG INSURANCE CO., LTD.(110111-0017859) |
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 Company |
Commissioner of Youngdeungpo Gu Office |
Related to Establishment of Association |
- |
Proceeding |
News
Clipping
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.33 |
|
UK Pound |
1 |
Rs.72.92 |
|
Euro |
1 |
Rs.64.69 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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 |
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.