MIRA INFORM REPORT
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Report Date : |
26.02.2011 |
IDENTIFICATION DETAILS
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Name : |
JIN WOONG INDUSTRIAL CO., LTD |
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Registered Office : |
619-1, Ganap -ri, Gwangjeok-myeon, Yangju-si, |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
22.06.1989 |
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Com. Reg. No.: |
127-81-15151 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Manufacture of Synthetic Colouring Matter, Tanning Materials and Other Coloring Agents |
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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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 |
JIN WOONG
INDUSTRIAL CO., LTD. (Korean Company
Name : “(주)진웅산업”) |
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Registered Address |
619-1, Ganap -ri, Gwangjeok-myeon,
Yangju-si, |
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Zip Code |
482-841 |
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Tel |
+82-31-837-6005 |
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Fax |
+82-31-837-6006 |
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E-mail |
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Website |
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Trading Address |
432-6, Beon 2-dong, Gangbuk-gu, |
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Tel |
+82-2-988-5135 |
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Fax |
+82-2-987-3183 |
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Other Address-2nd Factory |
666-9, Sangsu-ri, Nam-myeon, Yangju-si, |
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Tel |
+82-31-837-6005 |
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Fax |
+82-31-837-6006 |
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Type |
Export |
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Industry |
Manufacture of Synthetic Colouring Matter, Tanning Materials and Other
Coloring Agents |
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Main Business |
Dyestuffs for Leather |
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Established (mm/dd/yyyy) |
06/22/1989 |
The Subject owns
the premises of registered HQ address and 2nd Factory.
Detailed Products
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Dyes(12171500) |
CEO’s
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Name |
Lee Jhong-Myung |
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Address |
Suite 101-1501, 1444-7, Seocho-dong,
Seocho-gu, |
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Date of Birth |
08/17/1948 |
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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) |
1,500,000,000 |
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Employees |
52 |
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Formation |
Co., Ltd by Shares |
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Bank Details |
Shinhan Bank |
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Corporate Registered No. |
110111-0634752 |
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Business Registered No. |
127-81-15151 |
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Permit & Licenses |
07/05/1997 ISO 9001 by LLOYD 07/30/1999 ISO 14001 by LLOYD Int’l Trade No.: 430735 |
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Shareholder Position |
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Company History |
06/22/1989 Incorporated 07/10/1990 Changed company name to the
present name |
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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 Jhong-Myung |
Male |
Korean |
03/30/2002 |
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Director |
Mr. |
Lee Jung-Il |
Male |
Korean |
03/30/2002 |
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Director |
Mr. |
Kim Jong-Woong |
Male |
Korean |
03/30/2002 |
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Auditor |
Mr. |
Jung Han-Young |
Male |
Korean |
03/30/2005 |
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Supervisor |
Mr. |
Kim Dong-Min |
Male |
Korean |
11/05/2007 |
Financials
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Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
9,499,861,691 |
12,127,873,682 |
899,692,803 |
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2008 |
9,204,551,619 |
12,159,579,724 |
-727,896,249 |
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2007 |
10,943,625,996 |
11,493,954,146 |
-149,109,001 |
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2006 |
11,356,233,989 |
11,810,005,914 |
471,452,395 |
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2005 |
10,815,930,326 |
11,266,068,839 |
367,383,132 |
Financial Description
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Authorized Capital(KRW) |
3,200,000,000 |
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Paid-Up Capital(KRW) |
1,500,000,000 |
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Total Issues Shares |
150,000 |
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 |
12,127,873,682 |
12,159,579,724 |
11,493,954,146 |
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Current Assets |
7,312,451,147 |
7,601,213,065 |
7,047,570,147 |
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-Quick Assets |
4,829,795,553 |
4,722,247,214 |
5,382,393,353 |
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-Inventories |
2,482,655,594 |
2,878,965,851 |
1,665,176,794 |
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Fixed Assets |
4,815,422,535 |
4,558,366,659 |
4,446,383,999 |
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-Investment |
93,760,000 |
194,480,000 |
71,500,000 |
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-Tangibles |
4,660,492,789 |
4,302,516,913 |
4,313,571,548 |
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-Intangibles |
61,169,746 |
61,369,746 |
61,312,451 |
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Total Liabilities |
2,941,837,184 |
3,873,236,029 |
2,479,714,202 |
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Current Liabilities |
2,240,441,023 |
3,044,211,782 |
1,511,171,770 |
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Fixed Liabilities |
701,396,161 |
829,024,247 |
968,542,432 |
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Capital Stock |
1,500,000,000 |
1,500,000,000 |
1,500,000,000 |
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Capital Surplus |
- |
- |
- |
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Profit Surplus |
7,686,036,498 |
6,786,343,695 |
7,514,239,944 |
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Capital Adjustment |
- |
- |
- |
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Total Equity |
9,186,036,498 |
8,286,343,695 |
9,014,239,944 |
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Liab. & Shareholder’s Equity |
12,127,873,682 |
12,159,579,724 |
11,493,954,146 |
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Current Liabilities |
2,240,441,023 |
3,044,211,782 |
1,511,171,770 |
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Trade Payables |
586,590,786 |
1,253,169,970 |
209,970,645 |
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Account Payables |
509,489,242 |
144,663,711 |
132,167,242 |
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Accrued Expenses |
172,103,315 |
223,745,661 |
190,393,842 |
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Withholdings |
22,257,680 |
22,632,440 |
9,767,810 |
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Short-Term Borrowings |
- |
450,000,000 |
- |
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Accrued Income Tax |
- |
- |
18,872,231 |
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Current Portion of Long-Term Debts |
950,000,000 |
950,000,000 |
950,000,000 |
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Fixed
Liabilities |
701,396,161 |
829,024,247 |
968,542,432 |
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Long-Term Borrowings |
125,000,000 |
225,000,000 |
325,000,000 |
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Provision for Severance & Retirement |
599,590,161 |
630,314,247 |
675,738,132 |
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 |
9,499,861,691 |
9,204,551,619 |
10,943,625,996 |
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Cost of Sold Goods |
6,081,551,725 |
8,058,849,607 |
8,263,912,917 |
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Gross Profit |
3,418,309,966 |
1,145,702,012 |
2,679,713,079 |
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Selling & Admin. Expenses |
2,402,222,428 |
2,625,187,586 |
2,977,636,797 |
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Operating Income |
1,016,087,538 |
-1,479,485,574 |
297,923,718 |
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Non-Operating Income |
339,544,174 |
1,055,822,021 |
340,714,793 |
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Non-Operating Expenses |
455,938,909 |
304,232,696 |
156,969,725 |
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Ordinary Income |
899,692,803 |
-727,896,249 |
114,178,650 |
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Special Income |
- |
- |
- |
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Income Before Taxes |
899,692,803 |
-727,896,249 |
114,178,650 |
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Income Taxes Expenses |
- |
- |
34,930,351 |
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Net Income |
899,692,803 |
-727,896,249 |
149,109,001 |
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 |
1,648,822,928 |
-1,046,418,396 |
-159,982,261 |
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-Net Income |
899,692,803 |
-727,896,249 |
-149,109,001 |
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-Exp. without Cash Outflow |
602,803,450 |
519,496,461 |
961,318,644 |
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-Revenue
without Cash Inflows |
-9,686,915 |
-603,739,550 |
-196,050,240 |
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-Changes in
Asset/ & Liability |
156,013,590 |
-234,279,058 |
-776,141,664 |
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Cash Flows
from Investing |
-759,612,060 |
75,082,544 |
238,789,901 |
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-Cash Inflow
from Investing |
4,127,270 |
413,666,890 |
618,525,382 |
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-Cash
Outflows for Investing |
-763,739,330 |
-338,584,346 |
-379,735,481 |
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Cash Flows
from Financing |
-246,100,000 |
350,000,000 |
-75,000,000 |
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-Cash
Inflows from Financing |
303,900,000 |
450,000,000 |
- |
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-Cash
Outflows from Financing |
-550,000,000 |
-100,000,000 |
-75,000,000 |
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Increase/Decrease
in Cash |
643,110,868 |
-621,335,852 |
3,807,640 |
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Cash at the
Beginning of Year |
307,940,647 |
929,276,499 |
925,468,859 |
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Cash at the End of Year |
951,051,515 |
307,940,647 |
929,276,499 |
Products, Technologies, Services Description
|
Main Products & Services |
Dyestuffs |
Trade Partners & Competitors
|
Competitors |
CANKO MARKETING INC. RM. 614, TEL:+82-31-821-8774 FAX:+82-31-821-8776 NATO CORPORATION LTD. 73, YONGAM-RI, EUNHYEON-MYEON, YANGJU-SI, TEL:+82-31-862-8181 FAX:+82-31-864-4294 RHEESOO DYES & CHEMICALS CO., LTD. 6TH FL., YEONGSANG BLDG., 397-17,
DAEBANG-DONG, DONGJAK-GU, TEL:+82-2-825-8541 FAX:+82-2-824-4294 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
SHANGHAI HANWOONG DYES CHEMICAL CO., LTD.( |
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Overseas Office |
SHANGAHI GQANGZHOU |
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Cooperative |
-Insured Company LOTTE NON-LIFE INSURANCE CO., LTD.(110111-0014459) |
Sales by Region
(Activity & Markets)
The Subject exports
to
Court Action
No.
News Clipping
------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.37 |
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|
1 |
Rs.73.25 |
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Euro |
1 |
Rs.62.68 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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.