MIRA
INFORM REPORT
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Report Date : |
16.02.2011 |
IDENTIFICATION DETAILS
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Name : |
CASAMIA CO., LTD. |
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Registered Office : |
271-1, Seohyeon-dong, Bundang-gu, Seongnam-si, |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
29.06.1992 |
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Com. Reg. No.: |
120-81-11794 |
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Legal Form : |
Co., Ltd by shares |
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Line of Business : |
Wholesale of Household Furniture |
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 : |
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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 |
CASAMIA CO., LTD. (Korean Company Name : “(주)까사미아”) |
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Registered Address |
271-1, Seohyeon-dong, Bundang-gu, Seongnam-si,
Gyeonggi-do, Korea |
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Building |
5FL. |
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Zip Code |
463-824 |
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Tel |
+82-31-780-7100 |
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Fax |
+82-31-702-3864 |
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E-mail |
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Website |
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Trading Address |
5FL., 271-1, Seohyeon-dong, Bundang-gu, Seongnam-si,
Gyeonggi-do, Korea |
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Tel |
+82-31-780-7100 |
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Fax |
+82-31-702-3864 |
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Other Address-Distribution Center |
615-5, Moonhyung-ri, Oppo-myun, Guangju-si, Gyeonggi-do,
Korea |
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Tel |
+82-31-766-0282 |
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Other Address-Busan Branch |
627-1, U
1-dong, Haeundae-gu, Busan, Korea |
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Tel |
+82-51-740-6655 |
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Other Address-Shinsa Branch |
527-4, Sinsa-dong,
Gangnam-gu, Seoul, Korea |
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Tel |
+82-2-514-1709 |
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Type |
Export/Import |
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Industry |
Wholesale of Household Furniture |
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Main Business |
Bedclothes |
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Established (mm/dd/yyyy) |
06/29/1992 |
The Subject owns the premises of Shinsa
Branch.
Detailed Products
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Beds(56101515) |
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Sell |
Mantel or table clocks(54111602) |
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Sell |
Wall racks(56101518) |
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Sell |
Bedclothes(52121500) |
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Sell |
Wall clocks(54111601) |
CEO’s
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Name |
Lee Hyun-Koo |
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Address |
B-3504, 467, Dogok-dong,
Gangnam-gu, Seoul, Korea |
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Date of Birth |
01/02/1949 |
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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) |
6,250,000,000 |
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Employees |
209 |
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Formation |
Co., Ltd by shares |
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Bank Details |
Woori Bank-Bundang Central
Branch Hana Bank Shinhan Bank |
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Corporate Registered No. |
110111-0873102 |
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Business Registered No. |
120-81-11794 |
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Permit & Licenses |
10/2004 GD Mark Int’l Trade No.: 11013736 |
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Shareholder Position |
(*) The above list is based as
of 12/31/2009. |
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Company History |
06/29/1992 Incorporated as the
present name 06/30/200 Acquired C & C
CORPORATION 07/01/2007 Moved to 240-6,
Seohyeon-dong, Bundang-gu, Seongnam-si, Gyeonggi-do, Korea from 912-13, Daechi-dong,
Gangnam-gu, Seoul, Korea 06/21/2008 Moved to 3rd FI., 262-1, Seohyeon-dong,
Bundang-gu, Seongnam-si, Gyeonggi-do, Korea from 240-6, Seohyeon-dong,
Bundang-gu, Seongnam-si, Gyeonggi-do, Korea 01/10/2011 Moved to the present HQ address from 3rd FI.,
262-1, Seohyeon-dong, Bundang-gu, Seongnam-si, Gyeonggi-do, Korea |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
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President & CEO |
Mr. |
Lee Hyun-Koo |
Male |
Korean |
06/29/2000 |
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Director |
M/S. |
Choi Soon-Hee |
Female |
Korean |
06/29/1992 |
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Director |
Mr. |
Min Eung-Ki |
Male |
Korean |
03/28/2003 |
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Outside Director |
Mr. |
Yoo-Seok-Hoon |
Male |
Korean |
03/31/2009 |
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Auditor |
Mr. |
Kim Dong-In |
Male |
Korean |
03/31/2009 |
Financials
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Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
67,703,855,119 |
99,922,961,643 |
6,062,587,765 |
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2008 |
58,122,857,717 |
96,745,814,977 |
4,519,449,465 |
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2007 |
58,449,743,862 |
75,716,135,281 |
4,353,181,345 |
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2006 |
60,379,834,919 |
72,393,100,161 |
4,380,082,519 |
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2005 |
56,266,835,700 |
51,475,519,771 |
4,841,842,030 |
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2004 |
55,475,738,181 |
45,515,611,230 |
4,330,437,517 |
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2003 |
55,042,049,818 |
41,356,747,162 |
5,382,147,738 |
Financial Description
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Authorized Capital(KRW) |
26,000,000,000 |
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Paid-Up Capital(KRW) |
6,250,000,000 |
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Total Issues Shares |
10,650,000(Common:10,400,000,
Preferable:2,500,000) |
Balance
Sheet
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Unit : Korean Won |
As of 12/31/2009 |
As of 12/31/2008 |
As of 12/31/2007 |
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Total Assets |
99,922,961,643 |
96,745,814,977 |
75,716,135,281 |
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Current Assets |
19,531,475,372 |
18,158,522,946 |
18,683,164,207 |
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-Quick Assets |
11,525,304,223 |
10,318,967,490 |
9,855,835,590 |
|
-Inventories |
8,006,171,149 |
7,839,555,456 |
8,827,328,617 |
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Fixed Assets |
80,391,486,271 |
78,587,292,031 |
57,032,971,074 |
|
-Investment |
1,165,017,250 |
1,294,017,250 |
993,017,250 |
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-Tangibles |
68,054,247,371 |
65,349,714,849 |
44,064,848,393 |
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-Intangibles |
425,889,450 |
494,432,132 |
714,874,031 |
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-Others |
10,746,332,200 |
11,449,127,800 |
11,260,231,400 |
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Total Liabilities |
30,222,072,223 |
22,702,696,519 |
21,769,543,178 |
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Current Liabilities |
23,766,100,047 |
15,048,460,889 |
16,499,080,372 |
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Fixed Liabilities |
6,455,972,176 |
7,654,235,630 |
5,270,462,806 |
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Capital Stock |
6,250,000,000 |
6,250,000,000 |
6,250,000,000 |
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Capital Surplus |
10,813,503,637 |
10,813,503,637 |
10,813,503,637 |
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Profit Surplus |
37,567,378,477 |
42,553,950,022 |
38,350,000,557 |
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Capital Adjustment |
15,070,007,306 |
14,425,664,799 |
-1,466,912,091 |
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Total Equity |
69,700,889,420 |
74,043,118,458 |
53,946,592,103 |
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Liab. & Shareholder’s
Equity |
99,922,961,643 |
96,745,814,977 |
75,716,135,281 |
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Current Liabilities |
23,766,100,047 |
15,048,460,889 |
16,499,080,372 |
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Trade Payables |
3,247,065,408 |
2,164,175,864 |
1,781,020,333 |
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Short-Term Borrowings |
14,674,267,734 |
9,911,634,589 |
5,243,273,163 |
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Account Payables |
3,501,876,347 |
946,985,354 |
1,217,749,973 |
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Advance Receipts |
1,357,895,431 |
1,048,911,211 |
713,971,387 |
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Withholdings |
97,825,630 |
109,441,529 |
149,113,494 |
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Accrued Expenses |
24,288,339 |
28,775,152 |
30,010,206 |
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Accrued Income Tax |
862,881,158 |
624,037,190 |
1,079,065,460 |
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Current Portion of Long-Term Debts |
- |
214,500,000 |
286,000,000 |
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Current Portion of Debentures |
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|
6,000,000,000 |
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Fixed Liabilities |
6,455,972,176 |
7,654,235,630 |
5,270,462,806 |
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Long-Term Borrowings |
3,000,000,000 |
3,000,000,000 |
214,500,000 |
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Guarantee Deposit Received |
1,402,495,090 |
1,479,000,000 |
1,579,000,000 |
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Provision for Severance & Retirement |
2,428,470,398 |
2,102,553,786 |
1,948,533,800 |
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Leasehold Deposit Received |
1,679,675,000 |
2,804,675,000 |
2,819,675,000 |
Income
Statement
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Unit : Korean Won |
As of 12/31/2009 |
As of 12/31/2008 |
As of 12/31/2007 |
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Sales |
67,703,855,119 |
58,122,857,717 |
58,449,743,862 |
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Cost of Sold Goods |
35,817,256,971 |
28,343,647,737 |
28,219,370,781 |
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Gross Profit |
31,886,598,148 |
29,779,209,980 |
30,230,373,081 |
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Selling & Admin. Expenses |
24,464,700,961 |
23,636,479,842 |
24,067,019,480 |
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Operating Income |
7,421,897,187 |
6,142,730,138 |
6,163,353,601 |
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Non-Operating Income |
623,134,144 |
604,357,053 |
828,290,495 |
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Non-Operating Expenses |
720,453,908 |
920,812,876 |
788,776,131 |
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Ordinary Income |
7,324,577,423 |
5,826,274,315 |
6,202,867,965 |
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Special Income |
- |
- |
- |
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Income Before Taxes |
7,324,577,423 |
5,826,274,315 |
6,202,867,965 |
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Income Taxes Expenses |
1,261,989,658 |
1,306,824,850 |
1,849,686,620 |
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Net Income |
6,062,587,765 |
4,519,449,465 |
4,353,181,345 |
Cash
Flows
|
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Unit : Korean Won |
As of 12/31/2009 |
As of 12/31/2008 |
As of 12/31/2007 |
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Cash Flows from Operating |
12,085,262,835 |
6,724,531,345 |
5,096,031,051 |
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-Net Income |
6,062,587,765 |
4,519,449,465 |
4,353,181,345 |
|
-Exp. without Cash Outflow |
3,206,030,942 |
3,098,594,751 |
3,382,965,850 |
|
- |
(-)17,121,879 |
(-)396,996,384 |
(-)576,668,084 |
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-Changes in Asset/ &
Liability |
2,833,766,007 |
(-)496,516,487 |
(-)2,063,448,060 |
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Cash Flows from Investing |
(-)4,040,724,088 |
(-)7,289,632,732 |
(-)3,580,240,091 |
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-Cash Inflow from Investing |
5,458,534,063 |
6,146,755,345 |
7,594,228,774 |
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-Cash Outflows for Investing |
(-)9,499,258,151 |
(-)13,436,388,077 |
(-)11,174,468,865 |
|
Cash Flows from Financing |
(-)7,691,031,954 |
952,309,164 |
(-)1,236,719,797 |
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-Cash Inflows from Financing |
26,756,818,566 |
24,858,926,993 |
19,799,848,673 |
|
-Cash Outflows from Financing |
(-)34,447,850,520 |
(-)23,906,617,829 |
(-)21,036,568,470 |
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Increase/Decrease in Cash |
353,506,793 |
387,207,777 |
279,071,163 |
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Cash at the Beginning of Year |
1,767,718,373 |
1,380,510,596 |
1,101,439,433 |
|
Cash at the End of Year |
2,121,225,166 |
1,767,718,373 |
1,380,510,596 |
Products, Technologies, Services Description
|
Main Products & Services |
Furniture Sofa, Tea Table, Chair, Desk,
Fabric Products, Other Decoration Goods Brand Name : Casamia, Salim,
Uffia, Sia, Eco Story |
Trade Partners & Competitors
|
Suppliers |
BMW FINANCIAL SERVICES KOREA CO., LTD.(110111-2278756) provides
the vehicle services to the subject company. |
|
Customers |
The Subject sells through its
direct shops and major department stores. |
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Competitors |
BIF APT FURNITURE CO., LTD. 3RD FL., YONGHO BLDG., 259-1,
BOGWANG-DONG, YONGSAN-GU, SEOUL, KOREA TEL:+82-2-522-3500 FAX:+82-2-792-8828 SEDEC CO., LTD. 9TH FL., SEDEC BLDG., 588-18,
SINSA-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-549-6701 FAX:+82-2-549-9545 HANSSEM CO., LTD. 665, SEONGGOK-DONG, DANWON-GU,
ANSAN-SI, GYEONGGI-DO, KOREA TEL:+82-31-496-1101 FAX:+82-31-498-8078 |
Related Parties (Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
CASAMIA UPIA CO.,
LTD.(110111-0951635) (19.80% held
by the subject company) CASAMIA(SHANGHAI) FURNITURE
CO., LTD-CHINA (88.27% held by the subject company) |
|
Subsidiary |
CASAMIA(SHANGHAI) FURNITURE
CO., LTD-CHINA (88.27% held by the subject
company) |
|
Cooperative Enterprise |
-Insured Company FIRST FIRE & MARINE INSURANCE CO.,
LTD.(110111-0017586) HYUNDAIMARINE&FIREINSURANCECO., LTD.(110111-0035893) SAMSUNG LIFE INSURANCE CO., LTD.(110111-0005953) |
Sales by Region (Activity &
Markets)
Not Available.
Court Action
No.
News Clipping
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.45 |
|
|
1 |
Rs.72.90 |
|
Euro |
1 |
Rs.61.43 |
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 |
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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.