MIRA INFORM REPORT

 

 

Report Date :

28.01.2011

 

IDENTIFICATION DETAILS

 

Name :

MANDO-HELLA ELECTRONICS CORP

 

 

Registered Office :

10-42, Songdo-dong, Yeonsu-gu, Incheon, Korea 406-840

 

 

Country :

South Korea

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

26.11.2008

 

 

Com. Reg. No.:

142-81-17158

 

 

Legal Form :

Co., Ltd by Shares

 

 

Line of Business :

Manufacturer of Parts and Accessories for Motor Engines

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

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)

South Korea

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

MANDO-HELLA ELECTRONICS CORP.

(Trade Name : MHE)

(Korean Company Name : “만도헬라일렉트로닉스(주)”)

Registered Address

10-42, Songdo-dong, Yeonsu-gu, Incheon, Korea

Zip Code

406-840

Tel

+82-32-850-7114

Fax

+82-32-850-7111

E-mail

webmaster@mandohella.com

Website

www.mandohella.com

Trading Address

10-74, Songdo-dong, Yeonsu-gu, Incheon, Korea

Tel

+82-32-850-7114

Fax

+82-32-850-7111

Type

Export/Import

Industry

Manufacture of Parts and Accessories for Motor Engines

  Main Business

Automotive Sensor, Lateral Acceleration Sensor, Wheel Speed Sensor, Torque Sensor, ECU (Brake Control, Suspension Control, Steering Control), DAS(Driver Assistance System)

Established (mm/dd/yyyy)

11/26/2008

The Subject owns the premises of registered HQ address.

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Transportation components and systems(25170000)

Sell

Vehicle safety and security systems and components(25172100)

Sell

Speed sensors(41111921)

 

 

CEO’s

 

Name

Kim Kyung-Soo

Address

Suite 206-1103, 535, Yatap-dong, Bundang-gu, Seongnam-si, Gyeonggi-do, Korea

Date of Birth

05/15/1956

Title

President & CEO

Sex

Male

Nationality

Korean

 

Profiles

 

Capital (KRW)

13,800,000,000

Employees

189

Formation

Co., Ltd by Shares

Foreign Direct Investment Corporation

A Company of HALLA GROUP

Bank Details

N/A

Corporate Registered No.

134511-0132825

Business Registered No.

142-81-17158

Permit & Licenses

06/10/2010 SO14001

Shareholder Position

Name

Shares

%

MANDO CORPORATION(131311-0030042)

980,000

50.00

HELLA KGAA HUECK & CO. (GERMANY

980,000

50.00

TOTAL

1,960,000

100.00

(*)The above list is based as of 12/31/2009.

Company History

11/26/2008 Incorporated as a JV between MANDO CORPORATION(131311-0030042) and HELLA KGAA HUECK & CO. (Germany)

12/02/2008 Registered as a Foreign Direct Investment Corporation

04/10/2009 Moved to the present HQ address from 413-5, Gomae-dong, Giheung-gu, Yongin-si, Gyeonggi-do, Korea

01/15/2011 Increased capital to 13,800,000,000 KRW from 9,800,000,000 KRW

 

 

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

Mr.

Kim Kyung-Soo

Male

Korean

11/26/2008

Director

Mr.

Wolfgang Ollig

Male

German

11/26/2008

Director

Mr.

Dirk Dieckhoefer

Male

German

02/06/2009

Director

Mr.

Bernd Spies

Male

German

11/27/2009

Director

Mr.

Kim Joo-Shin

Male

Korean

03/19/2010

Director

Mr.

Frank Kun Chung

Male

USA

03/19/2010

Auditor

Mr.

Kim Man-Young

Male

Korean

11/26/2008

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2009

0

56,862,189,000

(-)6,483,012,000

2008

0

0

0

 

Financial Description

 

Authorized Capital(KRW)

75,000,000,000

Paid-Up Capital(KRW)

13,800,000,000

Total Issues Shares

2,760,000

 

 

Balance Sheet

 

Unit : Korean Won

As of 12/31/2009

As of 12/31/2008

As of 12/31/2007

Total Assets

56,862,189,000

1,000,000,000

 

Current Assets

 

 

 

-Quick Assets

 

 

 

-Inventories

 

 

 

Fixed Assets

 

 

 

-Investment

 

 

 

-Tangibles

 

 

 

-Intangibles

 

 

 

Total Liabilities

18,345,201,000

-

 

Current Liabilities

 

 

 

Fixed Liabilities

 

 

 

Capital Stock

 

 

 

Capital Surplus

 

 

 

Profit Surplus

 

 

 

Capital Adjustment

 

 

 

Total Equity

38,516,988,000

 

 

Liab. & Shareholder’s Equity

56,862,189,000

1,000,000,000

 

 

 

Income Statement

 

Unit : Korean Won

As of 12/31/2009

As of 12/31/2008

As of 12/31/2007

Sales

0

0

 

Cost of Sold Goods

 

 

 

Gross Profit

 

 

 

Selling & Admin. Expenses

 

 

 

Operating Income

 

 

 

Non-Operating Income

 

 

 

Non-Operating Expenses

 

 

 

Ordinary Income

 

 

 

Special Income

 

 

 

Income Before Taxes

 

 

 

Income Taxes Expenses

 

 

 

Net Income

(-)6,483,012,000

0

 

 

 

 

Products, Technologies, Services Description

 

Main Products & Services

Automotive Sensor, Lateral Acceleration Sensor, Wheel Speed Sensor, Torque Sensor, ECU (Brake Control, Suspension Control, Steering Control), DAS(Driver Assistance System)

 

 

Trade Partners & Competitors

 

Competitors

CONTINENTAL AUTOMOTIVE SYSTEMS CORP.

403-2, SAEUM-DONG, ICHEON-SI, GYEONGGI-DO, KOREA

TEL:+82-31-634-7400  FAX:+82-31-634-6904

 

DAESUNG ELECTRIC CO., LTD.

8B-27L, BANWOL INDUSTRIAL COMPLEX, 743-5, WONSI-DONG, DANWON-GU, ANSAN-SI, GYEONGGI-DO, KOREA

TEL:+82-31-494-1141  FAX:+82-31-495-4887

 

HANGCHANG ENPLA CO., LTD.

189-2, GEONJI-RI, DAEDEOK-MYEON, ANSEONG-SI, GYEONGGI-DO, KOREA

TEL:+82-31-675-7661  FAX:+82-31-675-7665

 

 

Related Parties

(Subsidiaries, Joint-Venture & Affiliates)

 

Affiliates-Domestic

MANDO CORPORATION(131311-0030042)

HALLA ENGINEERING & CONSTRUCTION CORPORATION(110111-0274699)

MOKPO NEW PORT CO. LTD(201111-0010994)

HALLA INVESTMENT & CONSULTING COMPANY(110111-3245621)

HALLA A&T CO., LTD.(161511-0081350)

MEISTER INC.(110111-0818778)

DAEA REMICON CO., LTD.(110111-0593544)

HALLA CONCRERE CORP.(141111-0002605)

DAE HAN INDUSTRY CORP.(154511-0030405)

DAEIL MISEOK CO., LTD.(161411-0009502)

HALLA WELTHTECH CORP.(110111-3202522)

HALLA V&T CO., LTD.(110111-3933995)

LAFARGE HALLA CEMENT CORP.(141111-0001392)

HALLA STACKPOLE COPERATION(150111-0114079)

Affiliates-Overseas

URIMAN, INC.

MANDO AMERICA CORPORATION

MANDO SUZHOU CHASSIS SYSTEM CO.LTD.

MANDO(BEIJING) AUTOMOTIVE CHASSIS SYSTEM CO.LTD.

MANDO(BEIJING) AUTOMOTIVE COMPONENT R&D CENTER CO.LTD.

MANDO(TIANJIN) AUTOMOTIVE PARTS CO.LTD.

MANDO(HARBIN) AUTOMOTIVE CHASSIS SYSTEM CO.LTD.

MANDO(BEIJING) TRADING CO.LTD.

MANDO(SHANGHAI) PROCUREMENT & TRADING CO.LTD.

MANDO SOFTTECH INDIA PRIVATE.LTD.

MANDO INDIA STEERING SYSTEM

MANDO INDIA LTD.

 

 

Sales by Region

(Activity & Markets)

 

The Subject deals with the companies in Germany.

 

 

Court Action

 

Not Available.

 

 

News Clipping

 

----

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.57

UK Pound

1

Rs.72.50

Euro

1

Rs.62.46

 

 

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%)

 

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.