MIRA INFORM REPORT
|
Report Date : |
19.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
AHLSTROM KOREA CO., LTD. |
|
|
|
|
Registered Office : |
7, Geum-ri, Yuga-myeon, Dalseong-gun, Daegu, Korea, Zip Code 711-882 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
02.10.1987 |
|
|
|
|
Com. Reg. No.: |
514-81-06292 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Manufacture of Other Articles of Paper and Paperboard |
|
|
|
|
No. of Employees
: |
113 persons |
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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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 |
AHLSTROM KOREA
CO., LTD. (Korean Company Name : “(주)한국알스트롬”) |
|
Registered Address |
7, Geum-ri, Yuga-myeon, Dalseong-gun,
Daegu, Korea |
|
Zip Code |
711-882 |
|
Tel |
+82-53-611-0491 |
|
Fax |
+82-53-611-0493 |
|
E-mail |
|
|
Website |
|
|
Trading Address |
Rm.601, Kanglim bldg., 448-7,
Seongnae-dong, Gangdong-gu, Seoul, Korea |
|
Tel |
+82-2-3452-7314 |
|
Fax |
+82-2-3452-8316 |
|
Type |
Export |
|
Industry |
Manufacture of Other Articles of Paper and Paperboard n.e.c. |
|
Main Business |
Filter Paper |
|
Established (mm/dd/yyyy) |
10/02/1987 |
The Subject owns
the premises of registered HQ address.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Filter papers(40161803) |
CEO’s
|
Name |
Roberto Boggio |
|
Address |
Suite 502-1503, 814-1, Janggi-dong,
Dalseo-gu, Daegu, Korea |
|
Date of Birth |
07/15/1968 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Italian |
Profiles
|
Capital (KRW) |
18,004,000,000 |
|||||||||
|
Employees |
113 |
|||||||||
|
Formation |
Co., Ltd by shares Foreign Direct Investment Corporation |
|||||||||
|
Bank Details |
Citibank, Korea-Trade Center Branch 1Fl. Airport Terminal, 159, Samseong
1-dong, Gangnam-gu, Seoul 135-090 Korea Tel: +82-2-551-6300 |
|||||||||
|
Corporate Registered No. |
174111-0002531 |
|||||||||
|
Business Registered No. |
514-81-06292 |
|||||||||
|
Permit & Licenses |
12/2000 Certified
IS0 14000 for environmental management system qualified. 01/1999 Certified IS0 9001 & QS 9000
qualifications 12/1995 Certified IS0 9002 qualification Int’l Trade No.: 383246 |
|||||||||
|
Shareholder Position |
|
|||||||||
|
Company History |
10/02/1987 Incorporated as the present name 03/30/2007 Increased the authorized shares to
4,000,000 shares from 800,000 shares 04/19/2007 Increased capital to
18,000,000,000 KRW from 8,000,000,000 KRW 11/27/2006
M&A with AHLSTROM SEOUL CO., LTD. 12/24/2008
Increased capital to 18,004,000,000 from
18,000,000,000 KRW |
|||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Roberto Boggio |
Male |
Italian |
03/30/2007 |
|
Director |
Mr. |
Tommy Biyonman |
Male |
Finlandian |
03/31/2009 |
|
Director |
Mr. |
Jana Clinga |
Male |
Finlandian |
03/31/2009 |
|
Auditor |
Mr. |
Tom Bastian |
Male |
USA |
03/30/2007 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
73,258,208,387 |
63,291,840,297 |
5,956,423,812 |
|
|
2009 |
58,247,684,710 |
57,552,893,418 |
6,687,081,918 |
|
2008 |
50,564,216,791 |
54,156,601,553 |
1,254,771,790 |
|
2007 |
48,382,179,096 |
56,686,979,757 |
(-)6,185,706,912 |
|
2006 |
39,288,353,030 |
55,174,419,951 |
(-)11,707,851,319 |
|
2005 |
35,844,236,252 |
55,594,238,194 |
(-)4,908,720,602 |
|
2004 |
39,511,938,158 |
54,036,539,596 |
1,046,635,260 |
|
2003 |
36,243,683,148 |
35,799,699,058 |
2,747,211,483 |
Financial Description
|
Authorized Capital(KRW) |
40,000,000,000 |
|
Paid-Up Capital(KRW) |
18,004,000,000 |
|
Total Issued Shares |
1,800,400(Common : 1,700,400 / Preferable : 100,000) |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
63,291,840,297 |
57,552,893,418 |
54,156,601,553 |
|
Current Assets |
20,323,497,005 |
16,951,570,615 |
14,846,396,921 |
|
-Quick Assets |
14,965,605,292 |
12,607,262,895 |
9,659,569,577 |
|
-Inventories |
5,357,891,713 |
4,344,307,720 |
5,186,827,344 |
|
Fixed Assets |
42,968,343,292 |
40,601,322,803 |
39,310,204,632 |
|
-Investment |
2,160,000 |
4,860,000 |
4,860,000 |
|
-Tangibles |
41,571,256,980 |
40,123,536,491 |
38,779,918,320 |
|
-Intangibles |
82,418,312 |
82,418,312 |
82,418,312 |
|
-Others |
1,312,508,000 |
390,508,000 |
443,008,000 |
|
Total Liabilities |
25,139,277,659 |
25,356,754,592 |
28,647,544,645 |
|
Current Liabilities |
23,027,442,232 |
23,914,441,818 |
17,613,069,162 |
|
Fixed
Liabilities |
2,111,835,427 |
1,442,312,774 |
11,034,475,483 |
|
Capital
Stock |
18,004,000,000 |
18,004,000,000 |
18,004,000,000 |
|
Capital
Surplus |
9,996,000,000 |
9,996,000,000 |
9,996,000,000 |
|
Profit
Surplus |
10,152,562,638 |
4,196,138,826 |
-2,490,943,092 |
|
Capital
Adjustment |
- |
- |
- |
|
Total Equity |
38,152,562,638 |
32,196,138,826 |
25,509,056,908 |
|
Liab. &
Shareholder’s Equity |
63,291,840,297 |
57,552,893,418 |
54,156,601,553 |
|
Current Liabilities |
23,027,442,232 |
23,914,441,818 |
17,613,069,162 |
|
Trade Payables |
15,704,388,916 |
13,012,950,443 |
10,353,032,717 |
|
Account Payables |
8,175,606 |
9,948,217 |
8,669,014 |
|
Short-Term Borrowings |
6,132,617,260 |
9,953,363,530 |
2,161,388,691 |
|
Current Portion of Long-Term
Borrowings |
- |
- |
3,772,500,000 |
|
Withholdings |
115,719,621 |
101,906,091 |
138,864,637 |
|
Accrued Expenses |
771,217,909 |
803,540,852 |
639,345,442 |
|
Advance Receipts |
84,026,591 |
5,303,555 |
2,943,334 |
|
Derivatives |
211,296,329 |
27,429,130 |
536,325,327 |
|
Fixed Liabilities |
2,111,835,427 |
1,442,312,774 |
11,034,475,483 |
|
Long-Term Borrowings |
- |
- |
10,374,375,000 |
|
Provision for Severance &
Retirement |
3,174,087,146 |
2,871,691,349 |
2,195,505,706 |
Income Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
73,258,208,387 |
58,247,684,710 |
50,564,216,791 |
|
Cost of Sold Goods |
56,430,673,407 |
42,207,567,192 |
39,934,969,613 |
|
Gross Profit |
16,827,534,980 |
16,040,117,518 |
10,629,247,178 |
|
Selling & Admin. Expenses |
10,094,762,694 |
8,388,326,127 |
10,153,474,904 |
|
Operating Income |
6,732,772,286 |
7,651,791,391 |
475,772,274 |
|
Non-Operating Income |
2,153,862,831 |
9,437,391,044 |
9,283,605,571 |
|
Non-Operating Expenses |
2,930,211,305 |
10,310,153,797 |
8,636,484,198 |
|
Income Before Taxes |
5,956,423,812 |
6,779,028,638 |
1,122,893,647 |
|
Income Taxes Expenses |
- |
91,946,720 |
-131,878,143 |
|
Net Income |
5,956,423,812 |
6,687,081,918 |
1,254,771,790 |
Cash Flows
|
|||
|
Unit : Korean
Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows
from Operating |
6,931,736,225 |
8,004,642,173 |
6,798,311,435 |
|
-Net Income |
5,956,423,812 |
6,687,081,918 |
1,254,771,790 |
|
-Exp.
without Cash Outflow |
1,492,744,497 |
1,366,983,732 |
4,949,186,504 |
|
-Revenue
without Cash Inflows |
-166,296,547 |
-64,197,968 |
-670,610,955 |
|
-Changes in
Asset/ & Liability |
-351,135,537 |
14,774,491 |
1,264,964,096 |
|
Cash Flows
from Investing |
-2,374,007,613 |
-1,338,323,474 |
-863,729,854 |
|
-Cash Inflow
from Investing |
5,431,817 |
197,745,000 |
1,250,000 |
|
-Cash
Outflows for Investing |
-2,379,439,430 |
-1,536,068,474 |
-864,979,854 |
|
Cash Flows
from Financing |
-3,820,746,270 |
-6,354,900,161 |
-6,296,968,273 |
|
-Cash Inflows
from Financing |
6,132,617,260 |
9,953,363,530 |
10,000,000,000 |
|
-Cash
Outflows from Financing |
-9,953,363,530 |
-16,308,263,691 |
-16,296,968,273 |
|
Increase/Decrease
in Cash |
736,982,342 |
311,418,538 |
-362,386,692 |
|
Cash at the Beginning
of Year |
345,858,041 |
34,439,503 |
396,826,195 |
|
Cash at the End of Year |
1,082,840,383 |
345,858,041 |
34,439,503 |
Products, Technologies, Services Description
|
Main Products & Services |
Filter Paper |
Trade Partners & Competitors
|
Competitors |
YOUNG CHANG CO., LTD. 1029-2, HOGYE 1-DONG, DONGAN-GU, ANYANG-SI,
GYEONGGI-DO, KOREA TEL:+82-31-452-2180 FAX:+82-31-452-9853 TERRY CORPORATION 674-11, CHOBU-RI, MOHYEON-MYEON, CHEOIN-GU,
YONGIN-SI, GYEONGGI-DO, KOREA TEL:+82-31-339-6393 FAX:+82-31-339-6395 ZENO CHEM KOREA LTD. RM. 1809, RENAISSNACE TOWER BLDG., 456,
GONGDEOK-DONG, MAPO-GU, SEOUL, KOREA TEL:+82-2-715-5377 FAX:+82-2-715-5878 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
AHLSTROM CORPORATION AHLSTROM TURIN S.P.A. MATHI CANAVESE AHLSTROM INDONESIA AHLSTROM JAPAN INC. AHLSTROM LOUVIERA LTDA AHLSTROM NONWOVENS LLC AHLSTROM(WUXI) TECHNICAL TEX AHLSTROM CHIRNSIDE LTD AHLSTROM SPECIALTIES BUSINESS AREA EF AHLSTROM ASIA HOLDINGS PTE AHLSTROM SOUTH AFRICA AHLSTROM HOLDING GMBH AHLSTROM BARCELONA AHLSTROM CHANTRAINE AHLSTROM TURIN S.P.A ASCOLI AHLSTROM NORDIC OY AHLSTROM FILTRATION LLC AHLSTROM BRIGNOUD AHLSTROM LABELPACK LARGRE |
|
Corporate Ownership |
AHLSTROM CORPORATION |
|
Major Shareholders |
AHLSTROM CORPORATION P.O. BOX 329, FIN-00101 HELSINKI,
ETELÄESPLANADI 14, FIN-00130 HELSINKI, FINLAND TEL:+358 (0)10 888 0 FAX:+358 (0)10 888
4709 |
|
Cooperative Enterprise |
-Insured Company HYUNDAI MARINE & FIRE INSURANCE CO., LTD.(110111-0035893) -License Agreement on using Technologies
and Brands with AHLSTROM CORPORATION -Service Agreement with AHLSTROM CORPORATION |
Sales by Region
(Activity & Markets)
The Subject exports
to China, Taiwan, Malaysia and Thailand.
Court Action
No.
News Clipping
----
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.81 |
|
UK Pound |
1 |
Rs.82.00 |
|
Euro |
1 |
Rs.68.81 |
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.