MIRA INFORM REPORT
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Report Date : |
22.02.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
SANGWOO CO., LTD. |
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Registered Office : |
32-2, Mugyo-dong, Jung-gu, |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
29.07.1981 |
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Com. Reg. No.: |
202-81-44957 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Manufacturer of Women's Suits and Coats |
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 |
SANGWOO CO.,
LTD. (Korean Company
Name : “상우무역(주)”) |
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Registered Address |
32-2, Mugyo-dong, Jung-gu, |
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Zip Code |
100-170 |
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Tel |
+82-32-675-0962 |
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Fax |
+82-32-672-2795 |
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E-mail |
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Website |
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Trading Address |
32-2, Mugyo-dong, Jung-gu, |
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Tel |
+82-32-674-5001 |
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Fax |
+82-32-672-2795 |
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Other Address |
122, Nae-dong, Ojeong-gu, Bucheon-si, |
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Tel |
+82-32-674-5001 |
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Fax |
+82-32-672-2795 |
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Industry |
Manufacture of Women's Suits and Coats |
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Main Business |
Womens Suits |
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Established (mm/dd/yyyy) |
07/29/1981 |
Detailed Products
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Womens shirts or blouses(53101604) |
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Sell |
Womens dresses or skirts or saris or
kimonos(53102002) |
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Sell |
Womens coats or jackets(53101804) |
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Sell |
Womens sweaters(53101704) |
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Sell |
Womens dresses or skirts or saris or
kimonos(53102002) |
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Sell |
Womens suits(53101904) |
CEO’s
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Name |
Jang Sang-Ik |
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Address |
122, Nae-dong, Ojeong-gu, Bucheon-si, |
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Date of Birth |
08/04/1930 |
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Title |
Chairman & CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
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Capital (KRW) |
457,000,000 |
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Employees |
40 |
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Formation |
Co., Ltd by Shares |
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Bank Details |
Woori Bank-Seogyo Dong Branch |
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Corporate Registered No. |
110111-0300585 |
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Business Registered No. |
202-81-44957 |
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Permit & Licenses |
Int’l Trade No.: 524043 |
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Shareholder Position |
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Company History |
07/29/1981 Incorporated as the present name |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
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Chairman & CEO |
Mr. |
Jang Sang-Ik |
Male |
Korean |
04/30/1993 |
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President & CEO |
Mr. |
Jang Wi-Soo |
Male |
Korean |
08/19/2005 |
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Director |
Mr. |
Jang Jae-Jung |
Male |
Korean |
08/07/1998 |
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Auditor |
M/S. |
Cho Sun-Soo |
Female |
Korean |
03/15/2006 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
49,773,599,888 |
14,661,057,775 |
260,652,478 |
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2008 |
54,020,443,095 |
18,737,272,653 |
404,737,012 |
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2007 |
42,207,039,866 |
14,470,721,262 |
209,773,507 |
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2006 |
45,893,349,300 |
13,133,773,638 |
410,117,600 |
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2005 |
42,420,146,163 |
14,071,708,828 |
312,465,947 |
Financial Description
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Authorized Capital(KRW) |
468,000,000 |
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Paid-Up Capital(KRW) |
457,000,000 |
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Total Issues Shares |
91,400 |
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 |
14,661,057,775 |
18,737,272,653 |
14,470,721,262 |
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Current Assets |
12,203,604,536 |
15,817,481,184 |
11,190,851,944 |
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-Quick Assets |
8,747,395,611 |
11,789,343,670 |
9,763,307,024 |
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-Inventories |
3,456,208,925 |
4,028,137,514 |
1,427,544,920 |
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Fixed Assets |
2,457,453,239 |
2,919,791,469 |
3,279,869,318 |
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-Investment |
2,172,989,500 |
2,572,989,500 |
2,997,989,500 |
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-Tangibles |
284,463,739 |
332,882,369 |
267,960,218 |
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-Intangibles |
- |
13,919,600 |
13,919,600 |
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Total Liabilities |
10,235,925,875 |
14,572,793,231 |
10,710,978,852 |
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Current Liabilities |
9,976,961,181 |
14,322,593,691 |
10,454,633,870 |
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Fixed Liabilities |
258,964,694 |
250,199,540 |
256,344,982 |
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Capital Stock |
457,000,000 |
457,000,000 |
457,000,000 |
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Capital Surplus |
- |
- |
- |
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Profit Surplus |
3,968,131,900 |
3,707,479,422 |
3,302,742,410 |
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Capital Adjustment |
- |
- |
- |
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Total Equity |
4,425,131,900 |
4,164,479,422 |
3,759,742,410 |
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Liab. &
Shareholder’s Equity |
14,661,057,775 |
18,737,272,653 |
14,470,721,262 |
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Current Liabilities |
9,976,961,181 |
14,322,593,691 |
10,454,633,870 |
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Trade Payables |
7,907,161,635 |
9,598,771,538 |
6,561,349,300 |
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Account Payables |
181,885,108 |
225,798,209 |
254,074,402 |
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Withholdings |
11,081,060 |
11,540,160 |
9,585,680 |
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Short-Term Borrowings |
1,800,000,000 |
4,164,695,323 |
3,101,200,000 |
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Accrued Income Tax |
72,582,420 |
40,101,303 |
30,177,175 |
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Accrued Expenses |
4,250,958 |
3,367,561 |
3,575,506 |
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Short-Term Borrowings to Shareholders/ Executives/ Employees |
- |
278,319,597 |
494,671,807 |
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Fixed Liabilities |
258,964,694 |
250,199,540 |
256,344,982 |
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Leasehold Deposit Received |
22,000,000 |
22,000,000 |
22,000,000 |
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Provision for Severance & Retirement |
253,931,917 |
244,749,250 |
249,992,083 |
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 |
49,773,599,888 |
54,020,443,095 |
42,207,039,866 |
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Cost of Sold Goods |
46,512,413,382 |
51,169,580,399 |
39,693,933,052 |
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Gross Profit |
3,261,186,506 |
2,850,862,696 |
2,513,106,814 |
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Selling & Admin. Expenses |
1,947,454,635 |
2,619,973,978 |
2,166,078,030 |
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Operating Income |
1,313,731,871 |
230,888,718 |
347,028,784 |
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Non-Operating Income |
1,917,222,029 |
1,381,411,101 |
384,914,926 |
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Non-Operating Expenses |
2,863,293,042 |
1,132,083,234 |
458,210,398 |
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Ordinary Income |
367,660,858 |
480,216,585 |
273,733,312 |
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Special Income |
- |
- |
- |
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Income Before Taxes |
367,660,858 |
480,216,585 |
273,733,312 |
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Income Taxes Expenses |
107,008,380 |
75,479,573 |
63,959,805 |
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Net Income |
260,652,478 |
404,737,012 |
209,773,507 |
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 |
3,846,185,640 |
-121,915,710 |
-1,702,175,891 |
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-Net Income |
260,652,478 |
404,737,012 |
209,773,507 |
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-Exp. without Cash Outflow |
228,810,752 |
454,903,795 |
181,905,877 |
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-Revenue
without Cash Inflows |
-123,440,321 |
-213,668,030 |
-67,870,430 |
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-Changes in
Asset/ & Liability |
3,480,162,731 |
-767,888,487 |
-2,025,984,845 |
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Cash Flows
from Investing |
107,728,207 |
92,244,602 |
-371,094,414 |
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-Cash Inflow
from Investing |
3,985,114,565 |
471,181,818 |
4,290,302 |
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-Cash
Outflows for Investing |
-3,877,386,358 |
-378,937,216 |
-375,384,716 |
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Cash Flows
from Financing |
-2,643,014,920 |
847,143,113 |
1,147,586,347 |
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-Cash
Inflows from Financing |
4,690,300,000 |
12,937,525,210 |
7,954,986,347 |
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-Cash
Outflows from Financing |
-7,333,314,920 |
-12,090,382,097 |
-6,807,400,000 |
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Increase/Decrease
in Cash |
1,310,898,927 |
817,472,005 |
-925,683,958 |
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Cash at the
Beginning of Year |
1,467,544,469 |
650,072,464 |
1,575,756,422 |
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Cash at the
End of Year |
2,778,443,396 |
1,467,544,469 |
650,072,464 |
Products, Technologies, Services Description
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Main Products & Services |
Womens Suits |
Trade Partners & Competitors
|
Competitors |
SEJUNG CORPORATION 11-1, BUGOK 3-DONG, GEUMJEONG-GU, TEL:+82-51-515-9999 FAX:+82-51-581-9994 SHINWON CORPORATION SINWON BLDG., 532, DOHWA-DONG, MAPO-GU, TEL:+82-2-3274-5000 FAX:+82-2-3274-5611 IN THE F CO., LTD. 946-12, DAECHI 3-DONG, GANGNAM-GU, TEL:+82-2-3456-9000 FAX:+82-2-568-8835 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
SANGWOO OF (100.00% held by the subject company) ALL-ROUND FASHION (84.78% held by the subject company) HO-WOONG COMPANY (100.00% held by the subject company) |
Sales by Region
(Activity & Markets)
Not Available.
Court Action
No.
News Clipping
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.45.11 |
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|
1 |
Rs.73.25 |
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Euro |
1 |
Rs.61.70 |
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 |
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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.