MIRA INFORM
REPORT
|
Report Date : |
15.01.2011 |
IDENTIFICATION DETAILS
|
Correct Name : |
PETRO-CHEM KOREA CO., LTD. |
|
|
|
|
Registered Office : |
505-14, Gasan-dong, Geumcheon-gu, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
08.02.2000 |
|
|
|
|
Com. Reg. No.: |
107-81-77148 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Construction of Industrial Plants |
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 |
PETRO-CHEM KOREA
CO., LTD. (Korean Company
Name : “페트로켐코리아(주)”) |
|
Registered Address |
505-14, Gasan-dong, Geumcheon-gu, |
|
Building |
Rm. 1501, |
|
Zip Code |
153-708 |
|
Tel |
+82-2-2082-7970 |
|
Fax |
+82-2-2082-7976 |
|
E-mail |
|
|
Website |
|
|
Trading Address |
Rm. 1501, Kolon Digital Tower Aston,
505-14, Gasan-dong, Geumcheon-gu, |
|
Tel |
+82-2-2082-7970 |
|
Fax |
+82-2-2082-7976 |
|
Type |
Export/Import |
|
Industry |
Construction of Industrial Plants |
|
Main Business |
Heater, Heater Design |
|
Established (mm/dd/yyyy) |
02/08/2000 |
The Subject owns
the premises of registered HQ address.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Furnaces(40101805) |
|
Sell |
Heating equipment and parts and
accessories(40101800) |
CEO’s
|
Name |
Choi Il-Boo |
|
Address |
|
|
Date of Birth |
04/03/1945 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
333,000,000 |
||||||||||||||||||
|
Employees |
22 |
||||||||||||||||||
|
Formation |
Co., Ltd by Shares Foreign Direct Investment Corporation |
||||||||||||||||||
|
Bank Details |
Industrial Bank of Woori Bank |
||||||||||||||||||
|
Corporate Registered No. |
110111-1872517 |
||||||||||||||||||
|
Business Registered No. |
107-81-77148 |
||||||||||||||||||
|
Permit & Licenses |
N/A |
||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||
|
Company History |
02/08/2000 Incorporated as the present name 02/14/2000 Registered as a Foreign Direct
Investment Corporation 11/23/2005 Moved to the present HQ address from 14-8, Yeouido-dong,
Yeongdeungpo-gu, 03/15/2006 Increased capital to 333,000,000 KRW from 111,000,000 KRW |
||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Choi Il-Boo |
Male |
Korean |
02/08/2000 |
|
Director |
Mr. |
William Bradin |
Male |
Korean |
02/20/2003 |
|
Director |
Mr. |
Noh Yong-Ho |
Male |
Korean |
06/21/2005 |
|
Director |
Mr. |
Stephan Tilimpi |
Male |
|
03/15/2009 |
|
Auditor |
M/S. |
Emily Tilimpi |
Female |
|
03/15/2006 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
37,461,200,170 |
21,401,964,404 |
2,709,779,858 |
|
|
2008 |
18,258,451,528 |
17,819,048,332 |
2,106,902,321 |
|
2007 |
17,341,768,750 |
8,321,163,146 |
1,805,369,496 |
|
2006 |
17,881,308,138 |
9,650,632,325 |
1,445,397,315 |
|
2005 |
10,444,169,404 |
9,045,902,843 |
1,127,300,202 |
Financial Description
|
Authorized Capital(KRW) |
1,500,000,000 |
|
Paid-Up Capital(KRW) |
333,000,000 |
|
Total Issues Shares |
66,600 |
Balance Sheet
|
Unit : Korean Won |
As of 12/31/2009 |
As of 12/31/2008 |
As of 12/31/2007 |
|
Total Assets |
21,401,964,404 |
17,819,048,332 |
8,321,163,146 |
|
Current Assets |
16,823,347,447 |
13,848,078,513 |
4,489,805,931 |
|
-Quick Assets |
16,712,347,447 |
13,751,178,513 |
4,483,863,591 |
|
-Inventories |
111,000,000 |
96,900,000 |
5,942,340 |
|
Fixed Assets |
4,578,616,957 |
3,970,969,819 |
3,831,357,215 |
|
-Investment |
3,500,554,668 |
3,312,276,122 |
3,168,672,361 |
|
-Tangibles |
594,478,722 |
605,656,264 |
622,042,473 |
|
-Intangibles |
42,500,000 |
- |
- |
|
-Others |
441,083,567 |
53,037,433 |
40,642,381 |
|
Total Liabilities |
15,236,579,515 |
10,863,443,301 |
3,472,460,436 |
|
Current Liabilities |
14,889,966,989 |
10,546,964,008 |
3,217,747,154 |
|
Fixed Liabilities |
346,612,526 |
316,479,293 |
254,713,282 |
|
Capital Stock |
333,000,000 |
333,000,000 |
333,000,000 |
|
Capital Surplus |
- |
- |
- |
|
Profit Surplus |
5,875,396,889 |
6,665,617,031 |
4,558,714,710 |
|
Capital Adjustment |
-43,012,000 |
-43,012,000 |
-43,012,000 |
|
Total Equity |
6,165,384,889 |
6,955,605,031 |
4,848,702,710 |
|
Liab. &
Shareholder’s Equity |
21,401,964,404 |
17,819,048,332 |
8,321,163,146 |
|
Current
Liabilities |
14,889,966,989 |
10,546,964,008 |
3,217,747,154 |
|
Trade Payables |
8,593,706,540 |
3,641,558,800 |
295,609,513 |
|
Short-Term Borrowings |
- |
1,006,000,000 |
- |
|
Account Payables |
138,052,224 |
129,458,604 |
45,845,892 |
|
Advance Receipts |
4,532,558,843 |
5,174,708,454 |
2,190,014,209 |
|
VAT Withhold |
1,144,470,132 |
- |
205,781,389 |
|
Withholdings |
139,220,960 |
122,642,170 |
77,137,430 |
|
Accrued Expenses |
15,960,000 |
22,449,962 |
22,700,000 |
|
Accrued Income Tax |
325,998,290 |
450,146,018 |
380,658,721 |
|
Fixed
Liabilities |
346,612,526 |
316,479,293 |
254,713,282 |
|
Provision for Severance &
Retirement |
324,124,166 |
260,108,333 |
201,991,666 |
|
Provision for Repairing |
22,488,360 |
56,370,960 |
52,721,616 |
Income Statement
|
Unit : Korean Won |
As of 12/31/2009 |
As of 12/31/2008 |
As of 12/31/2007 |
|
Sales |
37,461,200,170 |
18,258,451,528 |
17,341,768,750 |
|
Cost of Sold Goods |
34,294,959,816 |
14,383,351,567 |
14,205,740,393 |
|
Gross Profit |
3,166,240,354 |
3,875,099,961 |
3,136,028,357 |
|
Selling & Admin. Expenses |
1,182,297,371 |
1,281,681,934 |
947,669,459 |
|
Operating Income |
1,983,942,983 |
2,593,418,027 |
2,188,358,898 |
|
Non-Operating Income |
1,824,766,715 |
773,726,004 |
221,210,925 |
|
Non-Operating Expenses |
400,937,659 |
630,353,855 |
63,164,621 |
|
Ordinary Income |
3,407,772,039 |
2,736,790,176 |
2,346,405,202 |
|
Special Income |
- |
- |
- |
|
Income Before Taxes |
3,407,772,039 |
2,736,790,176 |
2,346,405,202 |
|
Income Taxes Expenses |
697,992,181 |
629,887,855 |
541,035,706 |
|
Net Income |
2,709,779,858 |
2,106,902,321 |
1,805,369,496 |
Cash Flows
|
Unit : Korean Won |
As of 12/31/2009 |
As of 12/31/2008 |
As of 12/31/2007 |
|
Cash Flows from Operating |
12,661,411,728 |
631,308,016 |
3,259,835,071 |
|
-Net Income |
2,709,779,858 |
2,106,902,321 |
1,805,369,496 |
|
-Exp. without Cash Outflow |
225,947,579 |
552,977,420 |
297,371,401 |
|
-Revenue without Cash Inflows |
-41,585,760 |
-258,540,856 |
-24,683,168 |
|
-Changes in Asset/ & Liability |
9,767,270,051 |
-1,770,030,869 |
1,181,777,342 |
|
Cash Flows from Investing |
-432,759,291 |
1,723,880,344 |
-828,210,571 |
|
-Cash Inflow from Investing |
220,000,000 |
13,814,220,000 |
7,974,545,429 |
|
-Cash Outflows for Investing |
-652,759,291 |
-12,090,339,656 |
-8,802,756,000 |
|
Cash Flows from Financing |
-4,506,000,000 |
1,131,200,000 |
-1,843,162,320 |
|
-Cash Inflows from Financing |
- |
1,131,200,000 |
2,770,000,000 |
|
-Cash Outflows from Financing |
-4,506,000,000 |
- |
-4,613,162,320 |
|
Increase/Decrease in Cash |
7,722,652,437 |
3,486,388,360 |
588,462,180 |
|
Cash at the Beginning of Year |
4,607,132,175 |
1,120,743,815 |
532,281,635 |
|
Cash at the End of Year |
12,329,784,612 |
4,607,132,175 |
1,120,743,815 |
Products, Technologies, Services Description
|
Main Products & Services |
Heater, Heater Design |
Trade Partners & Competitors
|
Customers |
GS-CALTEX CORPORATION(110111-0078819) S-OIL CORPORATION(110111-0189955) HYUNDAI ENGINEERING & CONSTRUCTION
CO., LTD.(110111-0007909) SAMSUNG ENGINEERING CO.,
LTD.(110111-0240509) |
|
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)
|
Corporate Ownership |
HEURTEY PETROCHEM PETRO-CHEM DEVELOPMENT CO., INC. |
|
Major Shareholders |
PETRO-CHEM DEVELOPMENT CO., INC. |
|
Cooperative |
-Insured Company HYUNDAI MARINE & FIRE INSURANCE CO., LTD.(110111-0035893) |
Sales by Region
(Activity &
Markets)
The Subject deals with
the companies in
Court Action
No.
News Clipping
----
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.30 |
|
|
1 |
Rs.71.73 |
|
Euro |
1 |
Rs.60.40 |
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.