MIRA INFORM REPORT

 

 

Report Date :           

24.08.2011

 

IDENTIFICATION DETAILS

 

Name :

SUHEUNG CAPSULE CO., LTD.

 

 

Formerly Known As :

SUHEUNG CHEMICAL INDUSTRIAL CO., LTD.

 

 

Registered Office :

317, Songnae 1-dong, Sosa-gu, Bucheon-si, Gyeonggi-do, Korea, Zip Code 422-814

 

 

Country :

South Korea

 

 

Financials (as on) :

30.06.2011

 

 

Date of Incorporation :

30.01.1973

 

 

Com. Reg. No.:

130-81-00576

 

 

Legal Form :

Listed Company

 

 

Line of Business :

Manufacture of Medicinal Medicaments

 

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

Payment Behaviour :

No Complaints

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

 


 Bottom of Form

Basic

 

Company Name

SUHEUNG CAPSULE CO., LTD.

(Korean Company Name : “()서흥캅셀”)

Registered Address

317, Songnae 1-dong, Sosa-gu, Bucheon-si, Gyeonggi-do, Korea

Zip Code

422-814

Tel

+82-32-610-7100

Fax

+82-32-666-0189

E-mail

hsmoon@suheung.co.kr;inquiries@suheung.com

Website

www.suheung.co.kr

Trading Address

6th Fl., Jung-An Bldg., 435-5, Jangan 3-dong, Dongdaemun-gu, Seoul, Korea

Tel

+82-2-2210-8175

Fax

+82-2-2217-2356

Other Address-2nd Factory

1731-4, Songjeong-dong, Gangseo-gu, Busan, Korea

Tel

+82-51-831-8803

Fax

+82-51-831-8806

Type

Export

Industry

Manufacture of Medicinal Medicaments

  Main Business

Empty Hard Capsules, Soft Capsule, Health Food, Encapsulation Machine

Established (mm/dd/yyyy)

01/30/1973

The Subject owns the premises of the registered address/Factory(18,142m2) and 2nd Factory(13,386m2).

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Capsule tubes or caps(24141709)

Sell

Health & Nutrition Food

Sell

Hard Capsule

Sell

Soft Capsule

Sell

Automatic Capsule Filling Machine

Sell

Paint Ball

 

 

CEO’s

 

Name

Yang Joo-Hwan

Date of Birth

03/13/1952

Title

President & CEO

Sex

Male

Nationality

Korean

 


Profiles

 

Capital (KRW)

6,084,556,500

Employees

581

Formation

Listed Company (Korea Stock Exchange: 008490) as of 03/27/1990

A Company of SUHEUNG CAPSULE CO., LTD.

Bank Details

Citi Bank, Korea-HQ Branch

Kookmin Bank

Korea Development Bank

Hana Bank

Woori Bank

Corporate Registered No.

124311-0004252

Business Registered No.

130-81-00576

Permit & Licenses

01/03/1998 ISO 9001

Patent(26161) : EMBO CAPS

 

Int’l Trade No.: 814492

Shareholder Position

Name

Shares

%

YANG JOO-HWAN

3,793,020

31.17

YANG JOO-CHUL

895,830

7.36

SEI ASSET KOREA CO., LTD.(110111-0563208)

580,430

4.77

YUDANG LEARNING ENCOURAGEMENT FOUNDATION(114122-0004164)

577,580

4.75

OTHERS

6,322,253

51.95

TOTAL

12,169,113

100.00

Company History

01/30/1973 Incorporated as SUHEUNG CHEMICAL INDUSTRIAL CO., LTD.

01/30/1980 Changed company name to the present name

06/01/1982 Acquired Jinhung Pharm. Co., Ltd.

03/27/1990 Listed at KSE Market

11/30/1992 Awarded US$5 Million Export Top Prize

11/30/1994 Awarded US$10 Million Export Top Prize

11/30/2003 Awarded US$20 Million Export Top Prize

11/30/2008 Awarded US$30 Million Export Top Prize

 

 

 

 

Management

 

Job Description

Title

Name

Nationality

Date of Birth

Education

President & CEO

Mr.

Yang Joo-Hwan

Korean

1952.03.13

Yonsei University, Korea

Vice President

Mr.

Yoon Sung-Gerl

Korean

1952.02.10

Kyungbuk National University, Korea

Executive Director

Mr.

Kim Bae-Sung

Korean

1951.01.20

Dankuk University, Korea

Outside Director

Mr.

Lee Byung-Kil

Korean

1937.06.15

Myungji University, Korea

Auditor

Mr.

Kim Kwang-Yon

Korean

1939.04.08

Myungji University, Korea

Auditor

Mr.

You Young-Keun

Korean

1954.02.11

Hankuk University of Foreign Studies, Korea

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

(*)06/2011

73,004,223,083

314,507,690,014

8,577,589,377

2010

124,860,736,612

264,037,146,738

13,967,924,362

2009

107,816,084,492

174,448,247,930

12,341,777,483

2008

101,606,218,474

171,911,838,049

10,640,188,356

2007

82,180,764,151

165,845,450,904

11,452,762,741

2006

76,710,971,354

138,611,568,949

2,953,156,089

2005

79,038,672,652

134,356,104,317

10,190,368,933

2004

67,146,608,615

97,988,295,464

4,225,936,857

2003

61,617,857,772

88,006,173,647

5,053,581,380

(*)06/2011 and 2010’s figures are based on the K-IFRS Accounting System.

 

 

Financial Description

 

Authorized Capital(KRW)

20,000,000,000

Paid-Up Capital(KRW)

6,084,556,500

Total Issues Shares

12,169,113

 

 

Balance Sheet

 

Unit : Korean Won

01/01/2011~06/30/2011

As of 12/31/2010

As of 12/31/2009

Total Assets

314,507,690,014

256,441,670,003

 

Current Assets

87,930,213,680

64,608,267,746

 

Cash & Cash Equivalents

15,983,166,096

4,058,465,256

 

Trade Receivables

38,450,018,332

33,244,085,385

 

Inventories

28,801,529,998

26,593,968,149

 

Short-Term Receivables

4,376,542,887

620,722,298

 

Other Current Assets

318,956,367

91,026,658

 

Non-Current Assets

226,577,476,334

191,833,402,257

 

Non-Current Financial Instruments

1,203,482,554

1,574,716,493

 

Marketable Financial Instruments

23,016,000

581,611,000

 

Other Financial Instruments

400,000,000

400,000,000

 

Investment_Related Companies

29,461,509,896

29,445,029,896

 

Investment_Real Estates

1,678,607,619

2,974,378,190

 

Tangibles

183,151,337,097

146,080,332,799

 

Intangibles

2,975,078,109

2,968,478,109

 

Long-Term Trade Receivables

7,684,445,059

7,808,855,770

 

Total Liabilities

141,280,992,744

90,871,548,352

 

Current Liabilities

80,991,900,418

63,434,320,883

 

Trade Payables

3,961,873,048

5,611,219,571

 

Short-Term Borrowings

67,186,061,800

53,060,000,000

 

Short-Term Liabilities

5,934,126,612

1,616,802,087

 

Accrued Income Tax

2,436,490,936

2,575,147,142

 

Other Current Liabilities

1,473,348,022

571,152,083

 

Non-Current Liabilities

60,289,092,326

27,437,227,469

 

Long-Term Trade Payables & Other Payables

50,391,058,220

16,234,750,000

 

Provision for Severance & Retirement

7,021,126,292

6,221,005,997

 

Deferred Income Tax Credit

9,556,200,776

9,584,477,469

 

Other Long-Term Payables

341,833,330

1,618,000,000

 

Capital Stock

6,084,556,500

6,084,556,500

 

Capital Surplus

38,377,468,436

38,377,468,436

 

Others

3,122,903,456

944,565,574

 

Profit Surplus

125,641,768,878

120,163,531,141

 

Total Equity

173,226,697,270

165,570,121,651

 

Liab. & Shareholder’s Equity

314,507,690,014

256,441,670,003

 

 

Balance Sheet

Unit : Korean Won

As of 12/31/2010

As of 12/31/2009

As of 12/31/2008

Total Assets

264,037,146,738

174,448,247,930

171,911,838,049

Current Assets

72,884,004,188

66,677,858,988

70,417,976,708

-Quick Assets

46,290,036,039

43,503,599,789

49,771,143,887

-Inventories

26,593,968,149

23,174,259,199

20,646,832,821

Fixed Assets

191,153,142,550

107,770,388,942

101,493,861,341

-Investment

39,546,092,529

38,490,473,487

35,320,994,738

-Tangibles

148,238,399,912

64,720,753,722

62,056,709,492

-Intangibles

496,900,000

496,900,000

1,451,900,000

-Others

2,871,750,109

4,062,261,733

2,664,257,111

Total Liabilities

90,851,813,411

52,971,863,307

59,717,326,070

Current Liabilities

63,434,320,883

47,755,914,796

31,311,600,345

Fixed Liabilities

27,417,492,528

5,215,948,511

28,405,725,725

Capital Stock

6,084,556,500

6,084,556,500

5,902,740,000

Capital Surplus

44,442,277,170

44,442,277,170

42,562,310,093

Profit Surplus

85,236,747,050

74,036,100,938

64,156,583,855

Capital Adjustment

37,421,752,607

-3,086,549,985

-427,121,969

Total Equity

173,185,333,327

121,476,384,623

112,194,511,979

Liab. & Shareholder’s Equity

264,037,146,738

174,448,247,930

171,911,838,049

 


Income Statement

 

Unit : Korean Won

01/01/2011~06/30/2011

As of 12/31/2010

As of 12/31/2009

Sales

73,004,223,083

 

 

Cost of Sold Goods

55,023,658,311

 

 

Gross Profit

17,980,564,772

 

 

Selling & Admin. Expenses

5,836,679,042

 

 

Operating Income

12,143,885,730

 

 

Investment Income on Related companies

428,400,000

 

 

Finance Income

410,925,880

 

 

Finance Expenses

2,704,558,173

 

 

Other Operating Income

678,559,037

 

 

Other Operating Expenses

177,052,951

 

 

Income Before Taxes

10,780,159,523

 

 

Income Taxes Expenses

2,202,570,146

 

 

Net Income

8,577,589,377

 

 

 

Income Statement

Unit : Korean Won

As of 12/31/2010

As of 12/31/2009

As of 12/31/2008

Sales

124,860,736,612

107,816,084,492

101,606,218,474

Cost of Sold Goods

94,258,062,170

77,960,506,776

72,612,854,477

Gross Profit

30,602,674,442

29,855,577,716

28,993,363,997

Selling & Admin. Expenses

11,608,169,343

10,101,958,229

10,978,363,158

Operating Income

18,994,505,099

19,753,619,487

18,015,000,839

Non-Operating Income

11,822,507,151

5,849,155,686

7,536,011,723

Non-Operating Expenses

13,477,312,602

9,378,393,309

10,832,356,034

Income Before Taxes

17,339,699,648

16,224,381,864

14,718,656,528

Income Taxes Expenses

3,371,775,286

3,882,604,381

4,078,468,172

Net Income

13,967,924,362

12,341,777,483

10,640,188,356

 

 

Cash Flows

 

Unit : Korean Won

01/01/2011~06/30/2011

As of 12/31/2010

As of 12/31/2009

Operating Activities Cash Flows

-3,354,680,052

 

 

Net Income

8,577,589,377

 

 

Adjustment

-7,726,476,904

 

 

Interests Received

72,040,390

 

 

Interests Paid

-1,702,685,773

 

 

Income Taxes

-2,575,147,142

 

 

Cash Flows from Investing

-31,143,713,473

 

 

Cash Flows from Financing

46,437,562,708

 

 

Increase/Decrease in Cash

11,924,700,840

 

 

Cash at the Beginning of Year

4,058,465,256

 

 

Cash at the End of Year

15,983,166,096

 

 

 

Cash Flows

Unit : Korean Won

As of 12/31/2010

As of 12/31/2009

As of 12/31/2008

Cash Flows from Operating

9,134,132,813

14,120,443,185

8,238,681,991

-Net Income

13,967,924,362

12,341,777,483

10,640,188,356

-Exp. without Cash Outflow

17,170,994,238

12,712,602,847

10,560,663,840

-Revenue without Cash Inflows

-9,712,235,481

-4,104,195,694

-3,564,170,914

-Changes in Asset/ & Liability

-12,292,550,306

-6,829,741,451

-9,397,999,291

Cash Flows from Investing

-34,789,980,681

-6,464,370,100

2,367,602,150

-Cash Inflow from Investing

18,228,786,228

16,433,458,993

44,767,395,427

-Cash Outflows for Investing

-53,018,766,909

-22,897,829,093

-42,399,793,277

Cash Flows from Financing

28,616,125,564

-9,831,619,029

-8,298,729,548

-Cash Inflows from Financing

148,588,741,700

56,627,650,000

41,705,928,652

-Cash Outflows from Financing

-119,972,616,136

-66,459,269,029

-50,004,658,200

Increase/Decrease in Cash

2,960,277,696

-2,175,545,944

2,307,554,593

Cash at the Beginning of Year

1,098,187,560

3,273,733,504

966,178,911

Cash at the End of Year

4,058,465,256

1,098,187,560

3,273,733,504

 

 

Products, Technologies, Services Description

 

Main Products & Services

Empty Hard Capsules, Soft Capsule, Health Food, Encapsulation Machine, Paintball for Leisure

 

Brand Name: EMBO CAPS

Annual Production Capacity

(Unit: Million EA)

Product

2008

2007

2006

Hard Capsule

14,200

14,200

14,412

 

 

Trade Partners & Competitors

 

Suppliers

GELITA SWEDEN AB

PB LEINER USA

GELTECH CO., LTD(180111-0262476)

 

BMW FINANCIAL SERVICES KOREA CO., LTD.(110111-2278756) provides vehicle leasing services to the Subject company.

Customers

Major Pharmaceutical companies and manufacturers

Competitors

HAN KOOK CAPSULE INDUSTRY CO., LTD.

13-164, SEONGSU 1-GA 2-DONG, SEONGDONG-GU, SEOUL, KOREA

TEL:+82-2-464-0621  FAX:+82-2-464-9503

 

Related Parties

(Subsidiaries, Joint-Venture & Affiliates)

 

Affiliates

GELTECH CO., LTD(180111-0262476)

(42.84% held by the subject company)

 

SH PHARM. CO., LTD.(121111-0112531)

(100.00% held by the subject company)

 

SH PHARACEUTICAL CO., LTD.(110111-3256214)

(26.26% held by the subject company)

 

SUHUNG PLAZMA CO., LTD.(110111-2003567)

(36.19% held by the subject company)

 

NUTROJIN CO., LTD.(110111-3388215)

(30.00% held by the subject company)

 

UNI-CAPS CO., LLC.

(50.00% held by JUMBO CAPSULE)

Overseas Office

SUHEUNG-VIETNAM CO., LTD

3RD FLOOR, ROOM 6, 268 TO HIEN THANH ST., WARD 15, DIST 10, HCMC. VIETNAM

TEL:+84-83-868-1363 FAX:+84-83-868-1366

 

SUHEUNG-EUROPE REPRESENTATIVE OFFICE

A. SENOE 3 VARAZDIN 42000 CROATIA

TEL:+38-599-509-8469 FAX:+38-542-71-2212

 

SUHEUNG-AMERICA CORPORATION

350 RANGER AVE. UNIT A BREA, CA, 92821

TEL:+1-714.996.7700 FAX:+1-714.996.7100

 

SUHEUNG-JAPAN CO., LTD.

POST CODE 101-0035 SUZUNO BLDG. 3F 11 BANCHI, KANDA-KONYACHO, CHIYODA-KU, TOKYO, JAPAN

TEL:+81-3-5256-7501  FAX:+81-3-5256-8008

Subsidiary

GELTECH CO., LTD(180111-0262476)

(42.84% held by the subject company)

 

SUHUNG PLAZMA CO., LTD.(110111-2003567)

(36.19% held by the subject company)

 

SUHEUNG-AMERICA CORPORATION

(100.0% held by the subject company)

 

SUHEUNG-VIETNAM CO., LTD

(100.00% held by the subject company)

 

SUHEUNG-JAPAN CO., LTD.

(100.00% held by the subject company)

 

SH PHARM. CO., LTD.(121111-0112531)

(100.00% held by the subject company)

Cooperative Enterprise-Agent

INGREDIENTS PLUS

UNIT 8,7-11 SOUTH STREET RYDALMERE NSW 2116 AUSTRALIA

TEL:+61-2-96846788, FAX:+61-2-96846799

E-MAIL : M.PETROS@INGREDIENTSPLUS.COM.AU

 

BUSINESS POINT LTD.

TMC BUILDING 8TH FLOOR, 52, NEW ESKATON ROAD G.P.O BOX NO.2034 DHAKA-1000 BANGLADESH.

TEL:+832 1712 , 832 1909 , FAX:+880-2-8321255, 880-2-8317218

E-MAIL : BP_Z@DHAKA.BANGLA.NET

 

5040 SERVICES LTD

PO BOX 794, SOFIA BG-1000, BULGARIA

TEL : 359 -2 -971- 6420  FAX:+359 - 2 - 971 - 6421

HOMEPAGE : WWW.5040SERVICES.COM

 

DISPERGAL LTD.

P.O.BOX 1795, DOROTHEA BLDG., 33 THEKLAS LYSSIOTI STR., LIMASSOL-CYPRUS.

TEL:+357-25-566490, FAX:+357-25-562481

E-MAIL : EVIE.PEKLIVANA@DISPERGAL.COM

 

WELDING PHARMA FRANCE

22, AVENUE RENE CASSIN 69009LYON FRANCE

TEL:+(33) (0) 4 7864 2323 , FAX:+33) (0)4 78 83 73 10

 

WELDING GMBH & CO

POST BOX 305840, 20318 HAMBURG ESPLANADE 39 20354 HAMBURG, GERMANY

TEL:+49 40 35 908 179 , FAX:+49 40 35908-4179

Cooperative Enterprise-Agent

MARIA A. STAMENY

P.O.BOX 17 111 GR 100.24 ATHENS GREECE

TEL:+30-210-361-0018, FAX:+30-210-362-9898

E-MAIL : STAMM@OTENET.GR

 

HUKONG & COMPANY

RM1402, 14 FLOOR, WATERLOO PLAZA, 53-55 WATERLOO RD., KOWLOON, HONG KONG

TEL:++23849478 FAX:+23849486

EMAIL: HUKONG@PACIFIC.NET.HK

 

JAGSON ENGINEERS

A/113, OSHIWARA INDUSTRIAL CENTRE, OPP. OSHIWARA BUS DEPOT, OFF. LINK ROAD, GOREGAON(WEST), MUMBAI 400 104. INDIA

TEL:+91-22-2879-2182, FAX:+91-22-2879-2192

 

PT NARDA TITA

KOMPLEK PURI NIAGA 3 BLOK M8/NO. 3C JI PURI KENCANG-KEMBN SELATAN JAKARTS BARAT 11610, INDONESIA.

TEL:+5830-3475, FAX:+5830-3473

E-MAIL : NARDA97@CBN.NET.ID

 

FAHYM KALA CO., LTD.

1ST FL., 108 EBNESINA ST., YOUSEF ABAD 14346, P.O.BOX, 14335-466, TEHRAN, IRAN.

TEL:+21-8067021~3 , FAX:+21-879 3832

E-MAIL : INFO@FAHYMKALA.COM

 

INTACT CHEM. LTD

SHRAGA REPHAELI.20/56, PETAH TIKVA  49064, ISRAEL

TEL:+972 3 91 90 644 FAX:+ 972 3 91 90 644

E-MAIL : MICHAELE@BARAK.NET.IL

Cooperative Enterprise-Agent

PRODOTTI GIANNI S.P.A.

VIA QUINTILIANO, 30. 20138 MILAN - ITALY

TEL : (39 02) 509 7218, FAX:+(39 02) 7313

 

HIGUCHI INC.

3-24-18 TAKANAWA MINATO-KU TOKYO JAPAN

TEL : 5420-5530 FAX:+5791-7125

 

CALDIC INGREDIENTS B.V.

ELWENWEG 5, NL-3421 TT P.O. BOX 106, NL-3420 DC OUDEWATER THE NETHERLANDS

TEL:++31-348-566-656(DIR) FAX:++31-348-566-646

 

CAPROMAX SDN. BHD.

NO. 60, JALAN WAWASAN 3/3, PUSAT BANDAR PUCHONG, 47100 PUCHONG, SELANGOR, MALAYSIA.

TEL:++60 12 209 1311  FAX:++60 12 299 4708

E-MAIL : HC_WONG@MYJARING.NET

 

GUDIA (PRIVATE) LIMITED

6TH FLOOR, MEHDI TOWERS, 115-A, S.M.C.H.S.,SHAHRAH-E-FAISAL, KARACHI-PAKISTAN.

TEL:+(92-21) 4539101~5 , FAX:+(92-21) 4556613/3734

E-MAIL : GUDIA@CYBER.NET.PK

 

PHARMACAPS, INC.

HEAD OFFICE: NO.1 UNIT D. 2ND., CORNER SAN RAFAEL, ST., BO. KAPITOLYO, PASIG CITY PHILIPPINES

TEL : 633-6177 , FAX:+633-6177

Cooperative Enterprise-Agent

MDLD INTERNATIONAL, INC.

NO.73 SCOUT FERNANDEZ QVEZON CITY

TEL : 372-3984, FAX:+372-3425

 

NOVAWES IMPORT (PTY) LTD.

PO BOX 97518 PETERVALE 2151, SOUTH AFRICA

TEL : 27-11-463-6507, FAX:+27-11-463-1574

E-MAIL : NOVAWES@GLOBAL.CO.ZA

 

IMPEX QUIMICA, S.A.

LLUCA, 28 08028 BARCELONA (SPAIN)

TEL : +34 93 409 9070, FAX:++34 93 399 2162

 

SHAFT TRADE INST.

ALEPPO-SYRIA, AI-GABRIA-DEMITRIOUS ST. BLOCK 7-2ND FLOOR. P.O. BOX 6719 SYRIA

TEL: +963 21 4602599

 

THOI MEOCHEMS CO., LTD.

53/1-2 SOI WUTTAKAD 3, WUTTAD RD., TRADPHU, THONBURI, BANGKOK 10600, THAILAND

TEL: 66-2891-5514, FAX:+66-2891-5552

E-MAIL : KORNSIRI@CSLOXINFO.COM

 

LEVI DIS TICARET A.S.

KEMERALTI CAD NO.2 ONEY IS HANI KAT 5 KARAKYY, 80030 ISTANBUL TURKEY.

TEL: 251-7520 , FAX:+251-5840/41

E-MAIL : FILIZ@LEVI.COM.TR

Cooperative Enterprise-Agent

PLUSPHARMA INCORPORATED

2460 CORAL STREET VISTA, CA 92081, U.S.A

TEL: (760)597-0200, FAX:+(760) 597-0734

E-MAIL : JENNIFERO@PLUSPHARM.COM

 

CORNELIUS GROUP

CORNELIUS HOUSE, WOODSIDE, DUNMOW ROAD, BISHOP'S STORTFORD, HERTFORDSHIRE, CM23 5RG, U.K.

TEL: (01279) 714 316 , FAX:+(01279) 714 320

 

SUHEUNG INTERNATIONAL

243/1/26 TO HINEN THANH, WARD 13, DIST 10, HCMC.

TEL : 84-8-293-4229 FAX: 84-8-862-3449

E-MAIL : KOOCHUL9@NETIAN.COM

 

MASKEM ALGERIE

LOT ALI BENDALI N°58, DERGANA WILAYA D'ALGER CP/16411, ALGERIE

TEL:+ 213 21 21 68 68

E-MAIL : LOTFI.OUDINA@MASKEM.COM

 

MASKEM EGYPT

5 EL-WATANIA BUILDINGS -SEFARAT DISTRICT-NASR CITY,CAIRO EGYPT

TEL +202 6720201 / +202 6720202 FAX +202 6720203

E-MAIL : AMRBADAWI@MASKEMEGYPT.COM

 

MASKEM MIDDLE EAST

AL-RABIA, CABOL STREET AL-GAZHAL BUILDING, 1ST FLOOR AMMAN - JORDAN

TEL : 00 962 6 55 48 46 2 / 3 FAX:0096265548439

E-MAIL : ALIA.QARAIN@MASKEM.COM

 

MASKEM MOROCCO

484,BD BRAHIM ROUDANI 1°ETAGE, APPT N° 2, MAARIF

20100 CASABLANCA- ANFA, MOROCCO

TEL : 00212 61 19 40 88 FAX 00 212 22 98 62 01

E-MAIL : REDOUANE.KHAMMAL@MASKEM.COM

 

MASKEM GULF FZCO

BUILDING LOB 14 OFFICE 218 JEBEL ALI FREE ZONE P.O.BOX 18453 DUBAI, UAE

TEL: +971 4 887 30 71 FAX:+971 4 887 30 72

EMAIL: WAEL.GAAMA@MASKEM.COM

Cooperative Enterprise

-Insured Company

DONGBU INSURANCE CO., LTD.(110111-0095285)

LIG INSURANCE CO., LTD(110111-0017859)

KOREA LIFE INSURANCE CO., LTD.(110111-0003204)

 

 

Sales by Region

(Activity & Markets)

 

Sales/ Unit :Mil KRW

(*)06/2011

2010

2009

Export

17,369

34,215

35,297

Domestic

55,635

90,646

72,519

Total

73,004

124,861

107,816

 

 

Court Action

---

 

 

News Clipping

 

---

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.45.69

UK Pound

1

Rs.75.29

Euro

1

Rs.65.77

 

 

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.