MIRA
INFORM REPORT
|
Report Date : |
22.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
SNNC CO., LTD. |
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Registered Office : |
878, Geumho-dong, Gwangyang-si,
Jeollanam-do, Korea 545-090 |
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|
|
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Country : |
South Korea |
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|
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Financials (as on) : |
31.12.2010 |
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|
|
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Date of Incorporation : |
18.05.2006 |
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Com. Reg. No.: |
416-81-52508 |
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|
|
|
Legal Form : |
Co., Ltd by Shares |
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|
|
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Line of Business : |
Manufacture of Ferro-Alloys |
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|
|
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No. of Employees : |
224 |
RATING & COMMENTS
|
MIRAs 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 30, 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 Information
|
Company Name |
SNNC CO., LTD. (Korean Company Name : (주)에스엔엔씨) |
|
Registered Address |
878, Geumho-dong, Gwangyang-si,
Jeollanam-do, Korea |
|
Zip Code |
545-090 |
|
Tel |
+82-61-797-9114 |
|
Fax |
+82-61-797-9191 |
|
E-mail |
parkhd@snnc.co.kr |
|
Website |
www.snnc.co.kr |
|
Trading Address |
878, Geumho-dong, Gwangyang-si,
Jeollanam-do, Korea |
|
Tel |
+82-61-797-9114 |
|
Fax |
+82-61-797-9191 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Ferro-Alloys |
|
Main Business |
Ferronickel |
|
Established (mm/dd/yyyy) |
05/18/2006 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Ferronickel |
CEOs
|
Name |
Lee Sang-Hong |
|
Address |
Suite 201-402, 1045, Ma-dong,
Gwangyang-si, Jeollanam-do, Korea |
|
Date of Birth |
01/12/1954 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
185,000,000,000 |
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|
Employees |
224 |
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Formation |
Co., Ltd by Shares Foreign Direct Investment Corporation A Company of POSCO Group |
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Bank Details |
Woori Bank Korea Development Bank |
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Corporate Registered No. |
204611-0023415 |
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Business Registered No. |
416-81-52508 |
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Permit & Licenses |
N/A |
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Shareholder Position |
|
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Company History |
05/18/2006 Incorporated as the present name 06/28/2006 Registered as a Foreign Direct
Investment Corporation 09/04/2006 Increased the authorized shares to 42,000,000 KRW from
2,400,000 KRW 11/15/2007 Increased capital to 185,000,000,000 KRW from
120,000,000,000 KRW 08/01/2008 Moved to the present HQ address from 700, Geumho-dong,
Gwangyang-si, Jeollanam-do, Korea |
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Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lee Sang-Hong |
Male |
Korean |
05/18/2006 |
|
Director |
Mr. |
Kim Ki-Bong |
Male |
Korean |
03/02/2009 |
|
Director |
Mr. |
Lim Keun-Young |
Male |
Korean |
02/26/2008 |
|
Director |
Mr. |
Andrei Danvengha |
Male |
French |
02/26/2008 |
|
Director |
Mr. |
Marcel Thomas |
Male |
French |
02/26/2008 |
|
Director |
Mr. |
Dominic Nazzi |
Male |
French |
03/02/2010 |
|
Auditor |
Mr. |
Philip Feriviore |
Male |
French |
09/04/2006 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
519,870,543,796 |
648,682,102,424 |
149,245,208,113 |
|
|
2009 |
368,348,636,617 |
505,055,034,008 |
85,685,888,345 |
|
2008 |
34,358,401,715 |
409,132,368,994 |
-47,958,883,951 |
|
2007 |
- |
193,366,805,371 |
-)1,850,125,102 |
|
2006 |
- |
38,583,523,183 |
-513,355,456 |
Financial Description
|
Authorized Capital(KRW) |
210,000,000,000 |
|
Paid-Up Capital(KRW) |
185,000,000,000 |
|
Total Issues Shares |
37,000,000 |
Balance
Sheet
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
648,682,102,424 |
505,055,034,008 |
409,132,368,994 |
|
Current Assets |
351,005,730,961 |
178,861,464,601 |
49,210,120,405 |
|
-Quick Assets |
286,046,108,322 |
127,062,154,416 |
12,151,158,351 |
|
-Inventories |
64,959,622,639 |
51,799,310,185 |
37,058,962,054 |
|
Fixed Assets |
297,676,371,463 |
326,193,569,407 |
359,922,248,589 |
|
-Investment |
2,000,000 |
4,000,000 |
4,000,000 |
|
-Tangibles |
294,711,090,589 |
323,084,142,221 |
357,875,835,968 |
|
-Intangibles |
1,429,897,219 |
1,466,410,082 |
2,040,902,621 |
|
-Others |
1,533,383,655 |
1,639,017,104 |
1,510,000 |
|
Total Liabilities |
305,401,434,475 |
285,119,574,172 |
274,882,797,503 |
|
Current Liabilities |
92,855,985,314 |
43,600,654,646 |
39,071,309,575 |
|
Fixed Liabilities |
212,545,449,161 |
241,518,919,526 |
235,811,487,928 |
|
Capital Stock |
185,000,000,000 |
185,000,000,000 |
185,000,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
158,280,667,949 |
35,363,523,836 |
-50,322,364,509 |
|
Capital Adjustment |
- |
-428,064,000 |
-428,064,000 |
|
Total Equity |
343,280,667,949 |
219,935,459,836 |
134,249,571,491 |
|
Liab. & Shareholders Equity |
648,682,102,424 |
505,055,034,008 |
409,132,368,994 |
|
Current Liabilities |
92,855,985,314 |
43,600,654,646 |
39,071,309,575 |
|
Trade Payables |
40,471,872,948 |
31,519,096,977 |
2,836,214,625 |
|
Account Payables |
9,178,571,046 |
5,521,667,888 |
5,785,973,026 |
|
Withholdings |
144,606,033 |
62,384,980 |
120,016,823 |
|
Accrued Expenses |
4,963,177,857 |
4,691,272,322 |
29,535,244,548 |
|
Provisions for Commission |
1,406,123,177 |
1,105,562,842 |
793,860,553 |
|
Accrued Income Tax |
6,161,849,683 |
700,669,637 |
- |
|
Current Portion of Long-Term Debts |
30,000,000,000 |
- |
|
|
Deferred Income Tax |
529,784,570 |
- |
|
|
Fixed Liabilities |
212,545,449,161 |
241,518,919,526 |
235,811,487,928 |
|
Long-Term Borrowings |
210,000,000,000 |
240,000,000,000 |
235,000,000,000 |
|
Provision for Severance & Retirement |
2,545,449,161 |
1,518,919,526 |
811,487,928 |
Income
Statement
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
519,870,543,796 |
368,348,636,617 |
34,358,401,715 |
|
Cost of Sold Goods |
345,218,625,152 |
266,030,212,378 |
62,930,733,497 |
|
Gross Profit |
174,651,918,644 |
102,318,424,239 |
-28,572,331,782 |
|
Selling & Admin. Expenses |
14,734,856,012 |
9,586,925,466 |
12,197,848,123 |
|
Operating Income |
159,917,062,632 |
92,731,498,773 |
-40,770,179,905 |
|
Non-Operating Income |
13,026,761,201 |
9,416,584,672 |
2,821,724,287 |
|
Non-Operating Expenses |
15,993,335,439 |
16,462,195,100 |
10,010,428,333 |
|
Income Before Taxes |
156,950,488,394 |
85,685,888,345 |
-47,958,883,951 |
|
Income Taxes Expenses |
7,705,280,281 |
- |
- |
|
Net Income |
149,245,208,113 |
85,685,888,345 |
-47,958,883,951 |
Cash
Flows
|
Unit :
Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows
from Operating |
162,062,014,747 |
90,555,183,713 |
-48,752,499,751 |
|
-Net Income |
149,245,208,113 |
85,685,888,345 |
-47,958,883,951 |
|
-Exp.
without Cash Outflow |
42,731,459,257 |
41,334,662,003 |
22,203,296,087 |
|
-Revenue
without Cash Inflows |
-333,512,449 |
-8,203,698,924 |
-1,126,133,492 |
|
-Changes in
Asset/ & Liability |
-29,581,140,174 |
-28,261,667,711 |
-21,870,778,395 |
|
Cash Flows
from Investing |
-105,942,141,835 |
-85,808,076,427 |
-229,760,822,371 |
|
-Cash Inflow
from Investing |
143,965,410,000 |
119,989,439,950 |
2,601,212,334 |
|
-Cash
Outflows for Investing |
-249,907,551,835 |
-205,797,516,377 |
-232,362,034,705 |
|
Cash Flows
from Financing |
-25,900,000,000 |
5,000,000,000 |
235,000,000,000 |
|
-Cash
Inflows from Financing |
- |
5,000,000,000 |
235,000,000,000 |
|
-Cash
Outflows from Financing |
-25,900,000,000 |
- |
- |
|
Increase/Decrease
in Cash |
30,219,872,912 |
9,747,107,286 |
-43,513,322,122 |
|
Cash at the
Beginning of Year |
15,146,597,067 |
5,399,489,781 |
48,912,811,903 |
|
Cash at the
End of Year |
45,366,469,979 |
15,146,597,067 |
5,399,489,781 |
Products, Technologies, Services Description
|
Main Products & Services |
Ferronickel |
Trade Partners & Competitors
|
Suppliers |
NMC(NICKEL MINING COMPANY SAS : NEW CALEDONIA) COAL & ALLIED OPERATIONS PTY LTD.(AUSTRALIA) |
|
Customers |
POSCO(174611-0000741) |
|
Competitors |
RISTEC-BIZ CO., LTD. SAN 32, YOJA-DONG, NAM-GU, POHANG-SI,
GYEONGSANGBUK-DO, KOREA TEL:+82-54-279-6436 FAX:+82-54-279-6440 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 KTC KOREA CO., LTD. 567-49, YEONNAM-DONG, MAPO-GU, SEOUL, KOREA TEL:+82-2-3144-5052 FAX:+82-2-3141-5846 |
Related Parties
(Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
POSCO(174611-0000741) POSCO COATED & COLOR STEEL CO.,
LTD.(174611-0006492) POSCO
ENGINEERING & CONSTRUCTION CO., LTD.(174611-0002979) POSDATA CO., LTD.(110111-0658637) POSCO REFRACTORIES & ENVIRONMENT CO.,
LTD.(174611-0001947) SAMJUNG PACKING AND ALUMINUM CO.,
LTD.(174611-0000866) POS-A.C. CO., LTD.(174611-0003448) POSCO ENGINEERING & CONSTRUCTION CO.,
LTD.(174611-0002979) POSCO RESEARCH INSTITUTE(110111-1042350) POSCON(174611-0002242) POSTEEL(110111-0344591) POSCO SPECIALTY STEEL CO., LTD.
(194211-0025248) POSCO MACHINERY CO., LTD.(206411-0010175) POSMEC(POSCO MACHINERY & ENGINEERING
CO., LTD.)(174611-0012176) POSCO TERMINAL CO., LTD.(204611-0017575) POSTECH VENTURE CAPITAL COOPERATION
(174611-0029080) POSMATE CO., LTD.(110111-0739841) POSCO POWER CORPORATION(110111-1829576) PHP CO., LTD.(120111-0421545) POSBRO(110111-3528986) POSCORE CO., LTD.(134811-0003343) RIZTECH BIZ CO., LTD. POSWITH CO., LTD.(171711-0075927) P&R CO., LTD. BASYS INDUSTRY CO. LTD.(110111-0954647) SUWON GREEN ENVIRONMENT
CORPORATION(134811-0133794) UI TRANS CO., LTD.(110111-3792309) DAKOS(131110-0246297) MAPO HIBROAD PARKING CO.,
LTD.(110111-4250140) PURE GIMPO CO., LTD.(110111-4290394) PLANT EST CO., LTD.(171711-0087592) UNIVERSAL STUDIOS RESORT DEVELOPMENT
CORPORATION(134811-0167222) METAPOLIS CO., LTD.(134811-0094475) SEOUNG GWANG CO., LTD.(120111-0222844) CHEONGNA IBT CO., LTD.(120111-0454520) POHANG FEUL CELL CO., LTD.(171711-0076256) MEGA ASSET CO., LTD.(161511-0097480) DAEWOO ENGINEERING COMPANY CO.,
LTD.(110111-0203268) |
|
Corporate Ownership |
SOCIETE MINIERE DU SUD PACIFIQUE(SMSP :
FRANCE) |
|
Major Shareholders |
SOCIETE MINIERE DU SUD PACIFIQUE(SMSP :
FRANCE) POSCO(174611-0000741) |
|
Cooperative Enterprise |
-Insured Company DONGBU INSURANCE CO.,LTD.(10111-0095285) SAMSUNG FIRE & MARINE INSURANCE CO., LTD(110111-0005078) |
Sales by Region
(Activity &
Markets)
The Subject deals
with the companies in Australia and New Caledonia.
Court Action
No.
News Clipping
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.67 |
|
|
1 |
Rs.82.53 |
|
Euro |
1 |
Rs.69.13 |
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 SCs 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.