MIRA INFORM REPORT
|
Report Date : |
19.02.2011 |
IDENTIFICATION DETAILS
|
Name : |
JMC HEAVY INDUSTRIES CO., LTD. |
|
|
|
|
Formerly Known As : |
JMC CO., LTD. |
|
|
|
|
Registered Office : |
2-1, Tapwon-ri, Byeongcheon-myeon, Dongnam-gu, Cheonan-si, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
30.09.2010 |
|
|
|
|
Date of Incorporation : |
06.12.1984 |
|
|
|
|
Com. Reg. No.: |
3128113445 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Manufacturer of Distilling Machinery, Heat exchange unit and Gas Generators |
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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Basic
|
Company
Name |
JMC HEAVY
INDUSTRIES CO., LTD. (Korean Company
Name : “(주)제이엠씨중공업”) |
|
Registered Address |
2-1, Tapwon-ri, Byeongcheon-myeon,
Dongnam-gu, Cheonan-si, |
|
Zip Code |
330-863 |
|
Tel |
+82-41-564-0116 |
|
Fax |
+82-41-564-0119 |
|
E-mail |
|
|
Website |
|
|
Trading Address |
3rd Fl, Main Bldg., Korea Association of Machinery
Industry, 13-31, Yeouido-dong, Yeongdeungpo-gu, Seoul, Korea |
|
Tel |
+82-2-786-2341 |
|
Fax |
+82-2-786-2342 |
|
Other Address-Gunsan Factory |
501, Osikdo-dong, Gunsan-si, |
|
Tel |
+82-63-471-8666 |
|
Fax |
+82-63-471-8667 |
|
Type |
Export |
|
Industry |
Manufacture of Distilling Machinery, Heat exchange unit and Gas
Generators |
|
Main Business |
Heat Exchanger, Pressure Vessels, Tower, Waste Boiler, Tank Filters |
|
Sub
Business |
Manufacture of Installed Tanks and Reservoirs |
|
Established (mm/dd/yyyy) |
12/06/1984 |
The Subject owns
the premises of registered HQ address.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Liquid strainers(40142501) |
|
Sell |
Heat exchangers(40101802) |
|
Sell |
Tube fittings(40142600) |
|
Sell |
Air or gas tanks or cylinders(24111802) |
|
Sell |
Tanks and cylinders and their
accessories(24111800) |
|
Sell |
Coil duct heaters(40101810) |
|
Sell |
Power generators(26111600) |
|
Buy |
Gaskets(31181500) |
|
Buy |
Carbon steel pipe(40142101) |
|
Buy |
Tube and tubing(31231300) |
|
Buy |
Stainless steel tubing(31231319) |
|
Buy |
Pipe(40142100) |
|
Buy |
Stainless steel plate(30102205) |
|
Buy |
Iron plate(30102203) |
|
Buy |
Iron sheet(30102503) |
CEO’s
|
Name |
Kim Jeong-Jin |
|
Address |
|
|
Date of Birth |
07/07/1956 |
|
Title |
Co-President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
5,037,845,000 |
|||||||||||||||||||||||||||
|
Employees |
117 |
|||||||||||||||||||||||||||
|
Formation |
Co., Ltd by Shares Venture Business |
|||||||||||||||||||||||||||
|
Bank Details |
Industrial Bank of Shinhan Bank Kookmin Bank |
|||||||||||||||||||||||||||
|
Corporate Registered No. |
124411-0002121 |
|||||||||||||||||||||||||||
|
Business Registered No. |
3128113445 |
|||||||||||||||||||||||||||
|
Permit & Licenses |
05/26/1998 ISO 9001 by BVQI Int’l Trade No.: 273947 |
|||||||||||||||||||||||||||
|
Shareholder Position |
|
|||||||||||||||||||||||||||
|
Company History |
12/06/1984 Incorporated as JUNGWOO KIGONG
CO., LTD. 05/10/1995 Acquired JUNGWOO PILTECH CO.,
LTD. 01/02/1999 Changed company name to JMC CO.,
LTD. 11/2005 Awarded US$ 10 Million Export Top
Prize 02/02/2009 Changed company name to the
present name 07/31/2009 Acquired JMC HEAVY
INDUSTRIES CO., LTD.(211111-0023755) 09/07/2009 Spin off the par value to 500 KRW from 5,000 KRW 12/16/2009 Designated as a Venture Business 06/23/2010 Changed English company name to
the present name 07/16/2010 Increased capital to
5,037,845,000 KRW from 5,007,845,000 KRW |
|||||||||||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Co-President & CEO |
Mr. |
Kim Jeong-Jin |
Male |
Korean |
12/17/2002 |
|
Co-President & CEO |
Mr. |
Choi Yeon-Soo |
Male |
Korean |
12/17/2002 |
|
Director |
Mr. |
Lim Hyung-Kyu |
Male |
Korean |
12/16/2008 |
|
Director |
Mr. |
Cho Sam-Hyun |
Male |
Korean |
02/02/2009 |
|
Auditor |
Mr. |
Ki Sung-Seob |
Male |
Korean |
07/31/2009 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
52,058,620,052 |
64,230,053,991 |
5,658,884,865 |
|
|
09/2009 |
45,601,019,875 |
51,788,140,306 |
4,551,942,628 |
|
09/2008 |
82,052,280,986 |
40,754,115,570 |
891,347,625 |
|
09/2007 |
49,138,970,357 |
29,998,737,828 |
2,185,719,242 |
|
09/2006 |
31,356,668,742 |
24,816,956,553 |
808,801,779 |
Financial Description
|
Authorized Capital(KRW) |
10,000,000,000 |
|
Paid-Up Capital(KRW) |
5,037,845,000 |
|
Total Issues Shares |
10,075,690 |
Balance Sheet
|
Unit : Korean Won |
As of 09/30/2010 |
As of 09/30/2009 |
As of 09/30/2008 |
|
Total Assets |
64,230,053,991 |
51,788,140,306 |
40,754,115,570 |
|
Current Assets |
37,337,327,903 |
24,167,019,998 |
28,929,476,620 |
|
-Quick Assets |
34,268,845,821 |
22,097,291,729 |
23,559,360,867 |
|
-Inventories |
3,068,482,082 |
2,069,728,269 |
5,370,115,753 |
|
Fixed Assets |
26,892,726,088 |
27,621,120,308 |
11,824,638,950 |
|
-Investment |
1,676,516,499 |
1,191,021,039 |
3,632,500,875 |
|
-Tangibles |
24,726,292,294 |
25,640,909,255 |
7,301,580,046 |
|
-Intangibles |
29,549,635 |
28,822,354 |
20,642,371 |
|
-Others |
460,367,660 |
760,367,660 |
869,915,658 |
|
Total Liabilities |
37,852,583,297 |
30,639,469,745 |
31,147,512,414 |
|
Current Liabilities |
26,857,023,677 |
17,435,579,991 |
29,061,149,534 |
|
Fixed Liabilities |
10,995,559,620 |
13,203,889,754 |
2,086,362,880 |
|
Capital Stock |
5,037,845,000 |
5,007,845,000 |
1,000,000,000 |
|
Capital Surplus |
2,760,238,127 |
2,730,588,127 |
1,321,907,632 |
|
Profit Surplus |
15,120,984,886 |
9,962,884,521 |
7,289,638,212 |
|
Capital Adjustment |
3,458,402,681 |
3,447,352,913 |
-4,942,688 |
|
Total Equity |
26,377,470,694 |
21,148,670,561 |
9,606,603,156 |
|
Liab. & Shareholder’s Equity |
64,230,053,991 |
51,788,140,306 |
40,754,115,570 |
|
Current Liabilities |
26,857,023,677 |
17,435,579,991 |
29,061,149,534 |
|
Trade Payables |
5,618,472,562 |
3,062,552,530 |
13,256,013,397 |
|
Short-Term Borrowings |
9,462,369,053 |
6,547,570,000 |
7,094,934,076 |
|
Account Payables |
3,475,352,932 |
1,089,918,471 |
2,896,041,029 |
|
Advance Receipts |
4,230,303,854 |
3,057,610,391 |
5,243,270,446 |
|
Withholdings |
45,138,890 |
31,361,290 |
27,818,180 |
|
Guarantee Deposit Withhold |
300,000,000 |
300,000,000 |
- |
|
VAT Withhold |
- |
9,209,289 |
- |
|
Accrued Expenses |
26,718,226 |
1,619,574,898 |
9,791,580 |
|
Accrued Income Tax |
1,127,248,160 |
1,091,879,022 |
99,240,826 |
|
Provisions for Loss Compensation |
- |
55,324,100 |
- |
|
Current Portion of Long-Term Debts |
2,571,420,000 |
570,580,000 |
434,040,000 |
|
Fixed Liabilities |
10,995,559,620 |
13,203,889,754 |
2,086,362,880 |
|
Long-Term Borrowings |
6,287,370,000 |
8,858,790,000 |
1,129,370,000 |
|
Short-Term Borrowings to Shareholders/ Executives/ Employees |
- |
- |
35,000,000 |
|
Provision for Severance & Retirement |
1,478,615,219 |
973,124,441 |
971,782,802 |
|
Convertible Bonds |
2,500,000,000 |
2,500,000,000 |
- |
|
Non-Current Portion of Deferred Income Tax Credit |
531,122,617 |
688,402,475 |
- |
Income Statement
|
Unit : Korean Won |
As of 09/30/2010 |
As of 09/30/2009 |
As of 09/30/2008 |
|
Sales |
52,058,620,052 |
45,601,019,875 |
82,052,280,986 |
|
Cost of Sold Goods |
39,308,294,548 |
32,041,865,257 |
71,755,603,449 |
|
Gross Profit |
12,750,325,504 |
13,559,154,618 |
10,296,677,537 |
|
Selling & Admin. Expenses |
3,864,256,106 |
2,763,343,636 |
2,876,559,725 |
|
Operating Income |
8,886,069,398 |
10,795,810,982 |
7,420,117,812 |
|
Non-Operating Income |
1,008,403,285 |
5,677,184,198 |
1,167,961,635 |
|
Non-Operating Expenses |
2,534,499,280 |
10,042,144,713 |
7,432,605,097 |
|
Ordinary Income |
7,359,973,403 |
6,430,850,467 |
1,155,474,350 |
|
Special Income |
- |
- |
- |
|
Income Before Taxes |
7,359,973,403 |
6,430,850,467 |
1,155,474,350 |
|
Income Taxes Expenses |
1,701,088,538 |
1,878,907,839 |
264,126,725 |
|
Net Income |
5,658,884,865 |
4,551,942,628 |
891,347,625 |
Cash Flows
|
Unit : Korean Won |
As of 09/30/2010 |
As of 09/30/2009 |
As of 09/30/2008 |
|
Cash Flows from Operating |
-5,517,275,131 |
10,186,032,384 |
1,927,097,368 |
|
-Net Income |
5,658,884,865 |
4,551,942,628 |
891,347,625 |
|
-Exp. without Cash Outflow |
3,772,047,076 |
2,328,745,910 |
1,491,967,129 |
|
-Revenue without Cash Inflows |
- |
-266,183,888 |
-9,360,637 |
|
-Changes in Asset/ & Liability |
-14,948,207,072 |
3,571,527,734 |
-446,856,749 |
|
Cash Flows from Investing |
-1,767,583,925 |
-5,469,362,002 |
-5,012,019,244 |
|
-Cash Inflow from Investing |
2,413,391,307 |
113,954,868 |
29,529,637 |
|
-Cash Outflows for Investing |
-4,180,975,232 |
-5,583,316,870 |
-5,041,548,881 |
|
Cash Flows from Financing |
1,903,084,553 |
-1,738,502,276 |
3,046,642,217 |
|
-Cash Inflows from Financing |
11,181,019,053 |
5,000,000,000 |
3,700,707,357 |
|
-Cash Outflows from Financing |
-9,277,934,500 |
-6,738,502,276 |
-654,065,140 |
|
Increase/Decrease in Cash |
-5,381,774,503 |
5,318,000,088 |
-38,279,659 |
|
Cash at the Beginning of Year |
5,534,736,326 |
216,736,238 |
255,015,897 |
|
Cash at the End of Year |
152,961,823 |
5,534,736,326 |
216,736,238 |
Products, Technologies, Services Description
|
Main Products & Services |
Heat Exchanger, Pressure Vessels, Tower, Waste Boiler, Tank Filters |
Trade Partners & Competitors
|
Competitors |
DBI CORP. 123-1, SINBOK-RI, YONGHYEON-MYEON,
SACHEON-SI, TEL:+82-55-835-7690~3 FAX:+82-55-835-7694~5 ENERGYEN CORPORATION RM. 920, RAEMIAN SEOCHO UNIVILLE, 1445-4,
SEOCHO 1-DONG, SEOCHO-GU, TEL:+82-2-583-9762 FAX:+82-2-583-9761 DAIHAN CLIMATE CONTROL CO., LTD. 551-5, SEGYO-DONG, OSAN-SI, TEL:+82-31-372-5191~5 FAX:+82-31-372-5196 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Cooperative |
-Insured Company DONGBU INSURANCE CO., LTD.(110111-0095285) |
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.45.18 |
|
|
1 |
Rs.73.04 |
|
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 |
|
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 |
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.