MIRA INFORM REPORT
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Report Date : |
10.12.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
TAEBONG CO., LTD. |
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Formerly Known As : |
TAEBONG TEXTILE CO., LTD. |
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Registered Office : |
684-2, Ilgok-dong, Buk-gu, Gwangju, Korea, Zip Code 500-866 |
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Country : |
South korea |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
15.12.1987 |
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Com. Reg. No.: |
409-81-06568 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Manufacture of Pharmaceutical Goods other than Medicaments |
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No. of Employees
: |
123 Persons |
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 : |
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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
TAEBONG CO.,
LTD. (Korean Company
Name : “(주)태봉”) |
|
Registered Address |
684-2, Ilgok-dong, Buk-gu, Gwangju, Korea |
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Zip Code |
500-866 |
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Tel |
+82-62-571-6470 |
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Fax |
+82-62-571-8946 |
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E-mail |
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Website |
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Trading Address |
684-2, Ilgok-dong, Buk-gu, Gwangju, Korea |
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Tel |
+82-62-571-6470 |
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Fax |
+82-62-571-8946 |
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Other Address |
402-8, Yangsan-dong,
Buk-gu, Gwangju, Korea |
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Type |
Export/Import |
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Industry |
Cotton of Spinning |
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Main Business |
Cleaned Cotton Waste, Cotton Roll, Cosmetic Puff, Bandage Of Cotton, Jumbo
Cotton Roll, Jumbo Embossed Cotton Roll, Cotton Swab, Alcohol Cotton Swab,
Dental Roll, Cotton Ball, Tampon |
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Sub
Business |
Manufacture of Pharmaceutical Goods Other Than Medicaments |
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Established (mm/dd/yyyy) |
12/15/1987 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
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Sell |
Cotton ball or fiber(42141501) |
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Sell |
Feminine hygiene products(53131615) |
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Sell |
Bandages and dressings and related
products(42311500) |
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Sell |
Disposable personal wipes(53131624) |
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Sell |
Cotton fibers(11151507) |
CEO’s
|
Name |
Lee Bong-Sang |
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Address |
Suite 103-401, 1011, Unam-dong,
Buk-gu, Gwangju, Korea |
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Date of Birth |
10/07/1937 |
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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) |
2,433,920,000 |
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Employees |
123 |
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Formation |
Co., Ltd by Shares |
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Bank Details |
Shinhan Bank Korea Exchange Bank Korea Development Bank |
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Corporate Registered No. |
200111-0013098 |
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Business Registered No. |
409-81-06568 |
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Permit & Licenses |
12/2003 ISO 9001 Int’l Trade No.: 15000123 |
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Shareholder Position |
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Company History |
09/1986 Established as TAEBONG TEXTILE
CO.(Sole Proprietorship) 12/15/1987 Incorporated as TAEBONG TEXTILE
CO., LTD. 01/08/2004 Changed company name to the
present name 02/25/2009 Issued Convertible Bond amounting
1,000,000,000 KRW 04/12/2010 Issued Convertible Bond
amounting 1,500,000,000 KRW |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lee Bong-Sang |
Male |
Korean |
03/25/2004 |
|
Director |
M/S. |
Kim Kyung-Ja |
Female |
Korean |
03/25/2004 |
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Director |
Mr. |
Lee Chang-Hern |
Male |
Korean |
03/25/2004 |
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Auditor |
Mr. |
Lee Hyun-Sook |
Male |
Korean |
03/25/2004 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
20,528,675,618 |
26,938,616,070 |
501,484,393 |
|
|
2009 |
18,569,464,717 |
25,882,197,976 |
367,505,658 |
|
2008 |
14,465,625,783 |
22,505,008,529 |
416,369,120 |
Financial Description
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Authorized Capital(KRW) |
4,800,000,000 |
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Paid-Up Capital(KRW) |
2,433,920,000 |
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Total Issued Shares |
243,392 |
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 |
26,938,616,070 |
25,882,197,976 |
22,505,008,529 |
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Current Assets |
9,379,766,898 |
7,970,800,791 |
6,154,561,657 |
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-Quick Assets |
6,120,510,684 |
4,762,882,880 |
2,929,757,844 |
|
-Inventories |
3,259,256,214 |
3,207,917,911 |
3,224,803,813 |
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Fixed Assets |
17,558,849,172 |
17,911,397,185 |
16,350,446,872 |
|
-Investment |
504,927,157 |
490,657,157 |
418,157,157 |
|
-Tangibles |
14,004,044,638 |
14,845,877,369 |
13,213,623,403 |
|
-Intangibles |
2,549,843,537 |
2,103,009,009 |
2,246,312,662 |
|
-Others |
500,033,840 |
471,853,650 |
472,353,650 |
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Total Liabilities |
19,850,797,701 |
19,295,864,000 |
16,286,180,211 |
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Current Liabilities |
13,837,740,305 |
14,180,100,767 |
12,591,890,567 |
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Fixed Liabilities |
6,013,057,396 |
5,115,763,233 |
3,694,289,644 |
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Capital Stock |
2,433,920,000 |
2,433,920,000 |
2,433,920,000 |
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Capital Surplus |
17,223,442 |
17,223,442 |
17,223,442 |
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Profit Surplus |
4,636,674,927 |
4,135,190,534 |
3,767,684,876 |
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Capital Adjustment |
- |
- |
- |
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Total Equity |
7,087,818,369 |
6,586,333,976 |
6,218,828,318 |
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Liab. & Shareholder’s Equity |
26,938,616,070 |
25,882,197,976 |
22,505,008,529 |
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Current Liabilities |
13,837,740,305 |
14,180,100,767 |
12,591,890,567 |
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Trade Payables |
974,341,830 |
552,686,293 |
855,042,870 |
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Short-Term Borrowings |
11,043,112,221 |
12,051,459,721 |
9,778,551,415 |
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Advance Receipts |
221,118,077 |
212,600,192 |
32,546,782 |
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Current Portion of Long-Term Debts |
717,118,000 |
498,791,000 |
541,520,000 |
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Account Payables |
429,063,450 |
480,730,056 |
831,534,787 |
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Accrued Expenses |
281,716,506 |
277,211,558 |
489,157,806 |
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Withholdings |
32,134,547 |
28,698,440 |
43,221,070 |
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Short-Term Borrowings to Shareholders/ Executives/ Employees |
76,635,024 |
- |
- |
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Accrued Income Tax |
62,500,650 |
77,923,507 |
20,315,837 |
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Fixed Liabilities |
6,013,057,396 |
5,115,763,233 |
3,694,289,644 |
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Long-Term Borrowings |
6,005,171,000 |
5,102,289,000 |
3,565,080,000 |
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Provision for Severance & Retirement |
787,201,247 |
847,934,608 |
660,422,648 |
Income
Statement
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|||
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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 |
20,528,675,618 |
18,569,464,717 |
14,465,625,783 |
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Cost of Sold Goods |
16,731,826,348 |
12,679,170,697 |
10,173,254,738 |
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Gross Profit |
3,796,849,270 |
5,890,294,020 |
4,292,371,045 |
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Selling & Admin. Expenses |
1,884,343,796 |
1,754,503,662 |
1,642,182,416 |
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Operating Income |
1,912,505,474 |
4,135,790,358 |
2,650,188,629 |
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Non-Operating Income |
230,367,600 |
273,975,288 |
203,911,749 |
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Non-Operating Expenses |
1,534,454,131 |
3,946,209,381 |
2,392,481,129 |
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Income Before Taxes |
608,418,943 |
463,556,265 |
461,619,249 |
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Income Taxes Expenses |
106,934,550 |
96,050,607 |
45,250,129 |
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Net Income |
501,484,393 |
367,505,658 |
416,369,120 |
Cash
Flows
|
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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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Cash Flows from Operating |
3,250,431,569 |
1,889,097,252 |
3,289,004,829 |
|
-Net Income |
501,484,393 |
367,505,658 |
416,369,120 |
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-Exp.
without Cash Outflow |
3,514,713,806 |
3,347,523,255 |
2,699,573,727 |
|
-Revenue
without Cash Inflows |
-1,199,000 |
-55,929,448 |
-15,821,665 |
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-Changes in
Asset/ & Liability |
-764,567,630 |
-1,770,002,213 |
188,883,647 |
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Cash Flows
from Investing |
-2,871,694,193 |
-5,207,263,877 |
-3,918,180,198 |
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-Cash Inflow
from Investing |
3,988,090,827 |
3,108,912,005 |
3,933,631,945 |
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-Cash
Outflows for Investing |
-6,859,785,020 |
-8,316,175,882 |
-7,851,812,143 |
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Cash Flows
from Financing |
42,830,700 |
3,461,564,051 |
460,313,778 |
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-Cash
Inflows from Financing |
9,265,947,206 |
12,737,547,538 |
7,298,436,992 |
|
-Cash
Outflows from Financing |
-9,223,116,506 |
-9,275,983,487 |
-6,838,123,214 |
|
Increase/Decrease
in Cash |
421,568,076 |
143,397,426 |
-168,861,591 |
|
Cash at the
Beginning of Year |
195,568,862 |
52,171,436 |
221,033,027 |
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Cash at the End of Year |
617,136,938 |
195,568,862 |
52,171,436 |
Products, Technologies, Services Description
|
Main Products & Services |
Mask Pack Erosion-Control Vegetation Mat Wet Tissue Tampon Cleaned Cotton Waste Bleached Cotton Non-Woven Fabric Sheet |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Cooperative Enterprise |
-Insured company HYUNDAIMARINE&FIREINSURANCECO., LTD.(110111-0035893) HANWHA GENERAL INSURANCE CO., LTD.(110111-0006456) |
Sales by Region
(Activity &
Markets)
|
Sales/ Unit : KRW |
2010 |
2009 |
2008 |
|
Export |
10,306,210,513 |
9,593,550,359 |
7,406,861,728 |
|
Domestic |
10,222,465,105 |
8,956,267,845 |
7,056,473,245 |
|
|
0 |
19,646,513 |
2,290,810 |
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Total |
20,528,675,618 |
18,569,464,717 |
14,465,625,783 |
Court Action
|
Case No. |
Court |
Plaintiff(s)/
Creditor(s)/ Applicant(s) |
Defendant(s)/
Debtor(s)/ Respondent(s) |
Cause |
Amount (Million KRW) |
Status |
|
|
Seoul District Court |
The Subject Company |
Shinhan Bank(Korea) |
Refund of Inappropriate Profits |
- |
The Subject won at 1st round, and 2nd round is
proceeding. |
News Clipping
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.23 |
|
UK Pound |
1 |
Rs.81.55 |
|
Euro |
1 |
Rs.69.60 |
RATING EXPLANATIONS
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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 |
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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.