MIRA
INFORM REPORT
|
Report Date : |
29.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
EMERSON PROCESS MANAGEMENT MARINE SOLUTIONS KOREA CO., LTD. |
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|
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Registered Office : |
530, Sinpyeong 1-dong, Saha-gu, Busan,
Korea 604-836 |
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Country : |
South Korea |
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Financials (as on) : |
30.09.2011 |
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Date of Incorporation : |
16.06.2000 |
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Com. Reg. No.: |
603-81-42263 |
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|
|
Legal Form : |
Co., Ltd by Shares |
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|
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Line of Business : |
Manufacture of Boards for Electric Control or Distribution |
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|
|
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No. of Employees : |
131 |
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 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 Information
|
Company
Name |
EMERSON PROCESS MANAGEMENT MARINE SOLUTIONS KOREA CO., LTD. (Korean Company Name : “한국에머슨프로세스매니지먼트마린솔루션즈(주)”) |
|
Registered Address |
530, Sinpyeong 1-dong, Saha-gu, Busan,
Korea |
|
Zip Code |
604-836 |
|
Tel |
+82-51-602-5555 |
|
Fax |
+82-51-602-5552 |
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E-mail |
eunsuk.jang@emerson.com |
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Website |
www.emersonprocess.com/mtm |
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Trading Address |
530, Sinpyeong 1-dong, Saha-gu, Busan,
Korea |
|
Tel |
+82-51-602-5600 +82-51-602-5570 |
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Fax |
+82-51-602-5553 |
|
Type |
Export |
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Industry |
Manufacture of Boards for Electric Control or Distribution |
|
Main Business |
Valve Remote Control System, Marine Tank Measurement System, Valve
Actuation, Gauge, Level Gauge, Tank Cleaning Machine, Ballast Tank Level
Gauge |
|
Established (mm/dd/yyyy) |
06/16/2000 |
The Subject owns
the premises of registered HQ address.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Control unit(43201542) |
|
Sell |
Marine environmental control
systems(25172703) |
CEO’s
|
Name |
Francisco Angel Pumareho |
|
Address |
Rm.350, Regency Park, 83, 18 Huma Mu Road,
Pudong, Shanghai, China |
|
Date of Birth |
04/26/1969 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
USA |
Profiles
|
Capital (KRW) |
4,213,200,000 |
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Employees |
131 |
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Formation |
Co., Ltd by Shares Foreign Direct Investment Corporation |
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Bank Details |
Shinhan Bank Woori Bank |
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Corporate Registered No. |
180111-0326868 |
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Business Registered No. |
603-81-42263 |
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Permit & Licenses |
02/2002 ISO 9001 by LRQA |
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Shareholder Position |
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Company History |
06/16/2000 Incorporated as DANFOSS MARINE
SYSTEM CO., LTD., as a JV between SAMGONG CO., LTD.(180111-0028464) and
DANFOSS MARINE SYSTEMS A/S(DENMARK) 02/15/2005 Changed company name to DAMCOS
CO., LTD. 03/23/2007 Changed the financial closing
date to September 30, from December 31 04/06/2007 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. |
Francisco Angel Pumareho |
Male |
USA |
12/31/2010 |
|
Director |
Mr. |
Henrick Starwer Peterson |
Male |
Danish |
10/13/2009 |
|
Director |
Mr. |
John Daivid Stoks |
Male |
USA |
12/31/2009 |
|
Auditor |
Mr. |
Stic Wilter Paulson |
Male |
Danish |
04/25/2006 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
56,021,321,969 |
70,702,024,614 |
6,117,615,859 |
|
|
092010 |
58,312,058,564 |
61,221,917,936 |
10,733,262,832 |
|
092009 |
73,442,485,737 |
54,105,712,848 |
15,500,853,589 |
03/21/2007 Changed the financial closing date
to September 30, from December 31
Financial Description
|
Authorized Capital(KRW) |
16,852,800,000 |
|
Paid-Up Capital(KRW) |
4,213,200,000 |
|
Total Issued Shares |
842,640 |
Balance
Sheet
|
Unit : Korean Won |
As of 09/30/2011 |
As of 09/30/2010 |
As of 09/30/2009 |
|
Total Assets |
70,702,024,614 |
61,221,917,936 |
54,105,712,848 |
|
Current Assets |
47,098,074,393 |
18,845,729,464 |
43,303,208,044 |
|
-Quick Assets |
43,177,884,408 |
14,473,579,084 |
38,042,530,423 |
|
-Inventories |
3,920,189,985 |
4,372,150,380 |
5,260,677,621 |
|
Fixed Assets |
23,603,950,221 |
42,376,188,472 |
10,802,504,804 |
|
-Investment |
15,242,929,420 |
32,241,734,976 |
24,579,420 |
|
-Tangibles |
4,849,998,901 |
5,181,809,057 |
5,364,832,267 |
|
-Intangibles |
2,840,629,037 |
4,178,812,350 |
4,792,712,732 |
|
-Others |
670,392,863 |
773,832,089 |
620,380,385 |
|
Total Liabilities |
15,402,370,318 |
12,039,879,499 |
15,656,937,243 |
|
Current Liabilities |
12,494,428,113 |
8,979,040,313 |
12,903,224,730 |
|
Fixed Liabilities |
2,907,942,205 |
3,060,839,186 |
2,753,712,513 |
|
Capital Stock |
4,213,200,000 |
4,213,200,000 |
4,213,200,000 |
|
Capital Surplus |
|
|
|
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Profit Surplus |
51,086,454,296 |
44,968,838,437 |
34,235,575,605 |
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Capital Adjustment |
|
|
|
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Total Equity |
55,299,654,296 |
49,182,038,437 |
38,448,775,605 |
|
Liab. & Shareholder’s Equity |
70,702,024,614 |
61,221,917,936 |
54,105,712,848 |
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Current Liabilities |
12,494,428,113 |
8,979,040,313 |
12,903,224,730 |
|
Trade Payables |
6,172,501,402 |
5,698,492,790 |
6,221,974,570 |
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Account Payables |
3,912,906,228 |
1,798,920,750 |
1,981,016,022 |
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Advance Receipts |
85,103,074 |
147,286,159 |
198,987,622 |
|
Withholdings |
56,221,451 |
60,444,621 |
69,091,386 |
|
Accrued Expenses |
943,914,416 |
683,523,172 |
581,745,660 |
|
Accrued Income Tax |
561,443,555 |
590,372,821 |
3,850,409,470 |
|
Derivatives |
762,337,987 |
- |
- |
|
Fixed Liabilities |
2,907,942,205 |
3,060,839,186 |
2,753,712,513 |
|
Provision for Repairing |
463,083,785 |
543,852,896 |
490,629,612 |
|
Provision for Severance & Retirement |
2,446,981,720 |
2,520,433,590 |
2,269,628,001 |
Income
Statement
|
Unit : Korean Won |
As of 09/30/2011 |
As of 09/30/2010 |
As of 09/30/2009 |
|
Sales |
56,021,321,969 |
58,312,058,564 |
73,442,485,737 |
|
Cost of Sold Goods |
43,899,623,819 |
39,925,117,914 |
46,710,306,225 |
|
Gross Profit |
12,121,698,150 |
18,386,940,650 |
26,732,179,512 |
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Selling & Admin. Expenses |
5,452,975,540 |
5,713,629,474 |
5,922,017,552 |
|
Operating Income |
6,668,722,610 |
12,673,311,176 |
20,810,161,960 |
|
Non-Operating Income |
2,748,173,017 |
1,342,694,743 |
2,231,453,284 |
|
Non-Operating Expenses |
1,785,294,225 |
717,237,715 |
3,087,131,247 |
|
Income Before Taxes |
7,631,601,402 |
13,298,768,204 |
19,954,483,997 |
|
Income Taxes Expenses |
1,513,985,543 |
2,565,505,372 |
4,453,630,408 |
|
Net Income |
6,117,615,859 |
10,733,262,832 |
15,500,853,589 |
Cash
Flows
|
Unit :
Korean Won |
As of 09/30/2011 |
As of 09/30/2010 |
As of 09/30/2009 |
|
Cash Flows
from Operating |
13,758,453,202 |
10,723,918,927 |
22,703,655,809 |
|
-Net Income |
6,117,615,859 |
10,733,262,832 |
15,500,853,589 |
|
-Exp.
without Cash Outflow |
3,916,364,010 |
3,431,613,673 |
2,984,925,289 |
|
-Revenue
without Cash Inflows |
-219,609,641 |
-268,806,823 |
-308,720,357 |
|
-Changes in
Asset/ & Liability |
3,944,082,974 |
-3,172,150,755 |
4,526,597,288 |
|
Cash Flows
from Investing |
-16,626,835,739 |
-33,168,261,559 |
2,426,479,122 |
|
-Cash Inflow
from Investing |
84,801,546 |
6,068,182 |
10,213,492,219 |
|
-Cash
Outflows for Investing |
-16,711,637,285 |
-33,174,329,741 |
-7,787,013,097 |
|
Cash Flows
from Financing |
- |
- |
- |
|
-Cash
Inflows from Financing |
- |
- |
- |
|
-Cash Outflows
from Financing |
- |
- |
- |
|
Increase/Decrease
in Cash |
-2,868,382,537 |
-22,444,342,632 |
25,130,134,931 |
|
Cash at the
Beginning of Year |
7,100,815,615 |
29,545,158,247 |
4,415,023,316 |
|
Cash at the
End of Year |
4,232,433,078 |
7,100,815,615 |
29,545,158,247 |
Products, Technologies, Services Description
|
Main Products & Services |
Valve Remote Control System, Marine Tank Measurement System, Valve
Actuation, Gauge, Level Gauge, Tank Cleaning Machine, Ballast Tank Level
Gauge |
Trade Partners & Competitors
|
Competitors |
SEIL SERES CO., LTD. 4TH FL., YEONSEUNG BLDG., 70-1, SAMSEONG
1-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-3447-3371~6 FAX:+82-2-3444-2442 HAN ENERGY SYSTEM CO., LTD. RM. 716, BIZ CENTER, SKN TECHNO PARK, 190-1,
SANGDAEWON 1-DONG, JUNGWON-GU, SEONGNAM-SI, GYEONGGI-DO, KOREA TEL:+82-31-776-0333 FAX:+82-31-776-0330 JAEYOUNG SOLUTEC CO., LTD. 7-6, SONGDO-DONG, YEONSU-GU, INCHEON, KOREA TEL:+82-32-815-4401 FAX:+82-32-815-0104 DENSO PS CORPORATION 47, SEONGSAN-DONG, SEONGSAN-GU,
CHANGWON-SI, GYEONGSANGNAM-DO, KOREA TEL:+82-55-600-9509 FAX:+82-55-600-9787 |
Related Parties
(Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
EMERSON PROCESS
MANAGEMENT KOREA LTD.(110111-0592554) DAMCOS A/S AADERUPVEJ 41 DK-4700 NAESTVED DENMARK TEL:+45 55 78 72 00 FAX:+45 55 78 72 72 ROSEMOUNT TANK RADAR AB GAMLESTADSVÄGEN 18 B PO BOX 13045 SE-402 51
GÖTEBORG SWEDEN TEL:+46 31 337 00 00 FAX:+46 31 25 30 22 EPM MARINE SYSTEMS (SHANGHAI) CO., LTD. ROSEMOUNT TANK RADAR AB EPMMS SINGAPORE PTE LTD. SF CONTROL OY ROSEMOUNT TANK GAUGING MIDDLE EAST SPC EMERSON PROCESS MANAGEMENT KOREA LTD. EMERSON ELECTRIC KOREA LTD. EMERSON TRADING (SHANGHAI) CO., LTD. EPMAP PRIVATE LTD. ROSEMOUNT INC. EMERSON ELECTRIC AP EMERSON DHC B.V. EMERSON ELECTRIC AP |
|
Corporate Ownership |
EMERSON ELECTRIC CO. DAMCOS A/S |
|
Major Shareholders |
DAMCOS A/S |
|
Cooperative Enterprise |
-Insured Company HYUNDAIMARINE&FIREINSURANCECO., LTD.(110111-0035893) |
Sales by Region
(Activity &
Markets)
The Subject deals
with the companies in China and Taiwan.
Court Action
No.
News Clipping
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.21 |
|
|
1 |
Rs.83.32 |
|
Euro |
1 |
Rs.69.51 |
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.