MIRA
INFORM REPORT
|
Report Date : |
26.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
OK KWANG CO.,
LTD. |
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|
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Registered Office : |
871-6, Eogok-dong, Yangsan-si,
Gyeongsangnam-do, Korea 626-220 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
05.01.2006 |
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Com. Reg. No.: |
606-81-95416 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Forging of Metal |
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No. of Employees : |
30 |
RATING & COMMENTS
|
MIRAs Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 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 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Basic Information
|
Company Name |
OK KWANG CO., LTD. (Ex. Company Name : OK KWANG METAL CO., LTD., 옥광금속(주)) (Korean Company Name : (주)옥광) |
|
Registered Address |
871-6, Eogok-dong, Yangsan-si,
Gyeongsangnam-do, Korea |
|
Building |
|
|
Zip Code |
626-220 |
|
Tel |
+82-55-781-1111 |
|
Fax |
+82-55-362-9885 |
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E-mail |
jhlee@okkwang.com |
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Website |
www.okkwang.com |
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Trading Address |
871-6, Eogok-dong, Yangsan-si,
Gyeongsangnam-do, Korea |
|
Tel |
+82-55-781-1111 |
|
Fax |
+82-55-362-9885 |
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Other Address-Busan Factory |
1573-14, Songjeong-dong,
Gangseo-gu, Busan, Korea |
|
Tel |
+82-51-831-9885 |
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Fax |
+82-51-831-9884 |
|
Type |
Export |
|
Industry |
Forging of Metal |
|
Main Business |
Flange, Ansi Flange, Ring Joint Flange, Orifice Flange, Long Welding
Necks Flange, Awwa Flange, Taylor Flange, Reducing Flange, Tower Flange,
Welding-Neck Flange, Nozzle, Reinforced Nozzle, Wheel, Crane Wheel, Drive
Wheel, Ring, Flat Ring, Forged Ring, Forming Roll |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
01/05/2006 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Pipe flanges(40142400) |
CEOs
|
Name |
Kim Myung-Keum |
|
Address |
Suite 102-2403, 693-1, Mangmi
1-dong, Suyeong-gu, Busan, Korea |
|
Date of Birth |
03/19/1965 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
300,000,000 |
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Employees |
30 |
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Formation |
Co., Ltd by Shares Venture Business |
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Bank Details |
Korea Exchange Bank Busan Bank |
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Corporate Registered No. |
180111-0542167 |
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Business Registered No. |
606-81-95416 |
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Permit & Licenses |
N/A |
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Shareholder Position |
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Company History |
01/05/2006 Incorporated as OK KWANG METAL CO., LTD. 09/01/2010 Moved to the present HQ address
from 1573-14, Songjeong-dong, Gangseo-gu, Busan, Korea 09/07/2010 Changed company name to the
present name |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Kim Myung-Keum |
Male |
Korean |
01/05/2009 |
|
Director |
Mr. |
Shin Sung-Ki |
Male |
Korean |
08/03/2009 |
|
Auditor |
M/S. |
Hong Kyung-Hee |
Female |
Korean |
01/05/2009 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
6,134,789,110 |
15,635,618,513 |
28,977,429 |
|
|
2009 |
3,149,801,220 |
11,074,258,668 |
-121,872,719 |
|
2008 |
8,559,380,000 |
|
680,460,000 |
|
2007 |
6,407,640,000 |
|
79,250,000 |
|
2006 |
3,511,850,000 |
|
49,690,000 |
Financial Description
|
Authorized Capital(KRW) |
1,200,000,000 |
|
Paid-Up Capital(KRW) |
300,000,000 |
|
Total Issues Shares |
60,000 |
Balance
Sheet
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
15,635,618,513 |
11,074,258,668 |
|
|
Current Assets |
3,237,871,012 |
2,318,378,531 |
|
|
-Quick Assets |
1,115,504,185 |
1,512,065,931 |
|
|
-Inventories |
2,122,366,827 |
806,312,600 |
|
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Fixed Assets |
12,397,747,501 |
8,755,880,137 |
|
|
-Investment |
441,382,715 |
279,896,760 |
|
|
-Tangibles |
11,890,614,786 |
8,448,863,377 |
|
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-Intangibles |
13,330,000 |
12,000,000 |
|
|
-Others |
52,420,000 |
15,120,000 |
|
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Total Liabilities |
13,912,193,345 |
9,380,158,423 |
|
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Current Liabilities |
6,048,402,425 |
3,773,853,076 |
|
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Fixed Liabilities |
7,863,790,920 |
5,606,305,347 |
|
|
Capital Stock |
300,000,000 |
300,000,000 |
|
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Capital Surplus |
- |
- |
|
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Profit Surplus |
769,774,724 |
740,797,295 |
|
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Capital Adjustment |
653,650,444 |
653,302,950 |
|
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Total Equity |
1,723,425,168 |
1,694,100,245 |
|
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Liab. & Shareholders Equity |
15,635,618,513 |
11,074,258,668 |
|
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Current Liabilities |
6,048,402,425 |
3,773,853,076 |
|
|
Trade Payables |
1,610,272,807 |
312,007,826 |
|
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Account Payables |
374,916,943 |
312,286,827 |
|
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Withholdings |
9,280,250 |
6,425,629 |
|
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Advance Receipts |
142,094,951 |
73,013,910 |
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Short-Term Borrowings |
3,072,806,851 |
2,568,913,215 |
|
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Accrued Expenses |
27,110,623 |
- |
|
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Current Portion of Long-Term Debts |
811,920,000 |
501,205,669 |
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Fixed Liabilities |
7,863,790,920 |
5,606,305,347 |
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Long-Term Borrowings |
7,592,854,331 |
5,446,774,331 |
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Provision for Severance & Retirement |
113,909,954 |
124,647,927 |
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Long-Term Account Payables |
180,820,246 |
62,947,396 |
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Income
Statement
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
6,134,789,110 |
3,149,801,220 |
|
|
Cost of Sold Goods |
4,753,358,762 |
2,233,014,774 |
|
|
Gross Profit |
1,381,430,348 |
916,786,446 |
|
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Selling & Admin. Expenses |
1,167,316,878 |
910,961,162 |
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Operating Income |
214,113,470 |
5,825,284 |
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Non-Operating Income |
234,722,588 |
153,315,784 |
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Non-Operating Expenses |
419,598,839 |
281,013,787 |
|
|
Ordinary Income |
29,237,219 |
-121,872,719 |
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|
Special Income |
- |
- |
|
|
Income Before Taxes |
29,237,219 |
-121,872,719 |
|
|
Income Taxes Expenses |
259,790 |
- |
|
|
Net Income |
28,977,429 |
-121,872,719 |
|
Cash
Flows
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows from Operating |
85,197,248 |
|
|
|
-Net Income |
28,977,429 |
|
|
|
-Exp. without Cash Outflow |
308,218,844 |
|
|
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-Revenue without Cash Inflows |
-672,267 |
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|
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-Changes in Asset/ & Liability |
-251,326,758 |
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|
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Cash Flows from Investing |
-3,895,751,359 |
|
|
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-Cash Inflow from Investing |
297,179,290 |
|
|
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-Cash Outflows for Investing |
-4,192,930,649 |
|
|
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Cash Flows from Financing |
2,961,360,234 |
|
|
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-Cash Inflows from Financing |
5,437,087,001 |
|
|
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-Cash Outflows from Financing |
-2,475,726,767 |
|
|
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Increase/Decrease in Cash |
-849,193,877 |
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Cash at the Beginning of Year |
927,814,948 |
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|
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Cash at the End of Year |
78,621,071 |
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Products, Technologies, Services Description
|
Main Products & Services |
Flange, Ansi Flange, Ring Joint Flange, Orifice Flange, Long Welding
Necks Flange, Awwa Flange, Taylor Flange, Reducing Flange, Tower Flange,
Welding-Neck Flange, Nozzle, Reinforced Nozzle, Wheel, Crane Wheel, Drive
Wheel, Ring, Flat Ring, Forged Ring, Forming Roll |
Trade Partners & Competitors
|
Competitors |
DAECHANG FORGING CO., LTD. 1072-1, BONGRIM-RI, SAENGNIM-MYEON,
GIMHAE-SI, GYEONGSANGNAM-DO, KOREA TEL:+82-55-329-3911 FAX:+82-55-329-5097 DONG EUN FORGING CO., LTD. 1217-2, JISA-DONG, GANGSEO-GU, BUSAN, KOREA TEL:+82-51-974-9700 FAX:+82-51-974-9797 HANIL FORGING INDUSTRIAL CO., LTD. 604-7, NAMSAN-DONG, SEONGSAN-GU,
CHANGWON-SI, GYEONGSANGNAM-DO, KOREA TEL:+82-55-282-3201 FAX:+82-55-284-7023 |
Related Parties
(Subsidiaries,
Joint-Venture & Affiliates)
|
Cooperative Enterprise |
-Insured Company MERITZ FIRE & MARINE INSURANCE CO., LTD.(110111-0013328) |
Sales by Region
(Activity &
Markets)
Not Available.
Court Action
No.
News Clipping
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.72 |
|
|
1 |
Rs.82.70 |
|
Euro |
1 |
Rs.68.90 |
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.