MIRA INFORM REPORT

 

 

Report Date :

28.01.2011

 

IDENTIFICATION DETAILS

 

Name :

WINTECH CO., LTD.

 

 

Formerly Known As :

WONTECH CO., LTD

 

 

Registered Office :

39-4, Osaeng-ri, Saenggeuk-myeon, Eumseong-gun, Chungcheongbuk-do, Korea 369-843

 

 

Country :

South Korea

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

28.01.2002

 

 

Com. Reg. No.:

303-81-32055

 

 

Legal Form :

Co., Ltd by Shares

 

 

Line of Business :

Manufacture of Plastic Laminating, Coating and Other Surface Processing Products

 

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 :

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)

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

WINTECH CO., LTD.

(Korean Company Name : “(주)윈텍”)

Registered Address

39-4, Osaeng-ri, Saenggeuk-myeon, Eumseong-gun, Chungcheongbuk-do, Korea

Zip Code

369-843

Tel

+82-43-881-6100

Fax

+82-43-881-6644

E-mail

info@wintechfilm.com; cicho@wintechfilm.com

Website

www.wintechfilm.com

Trading Address

Rm.1509, Daerung Technotown 15-Cha, 224-5, Gwanyang-dong, Dongan-gu, Anyang-si, Gyeonggi-do, Korea

Tel

+82-70-7545-1811

Fax

+82-31-8040-2992

Type

Export

Industry

Manufacture of Plastic Laminating, Coating and Other Surface Processing Products

  Main Business

Tinting Film, Standard Film, Reflective Film, IR Cut Film, Safety Film

Established (mm/dd/yyyy)

01/28/2002

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Films(13111200)

Sell

Window film(30141511)

 

 

CEO’s

 

Name

Yang Seung-Nam

Address

103, Anguk-dong, Jongno-gu, Seoul, Korea

Date of Birth

01/20/1960

Title

President & CEO

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

1,500,000,000

Employees

40

Formation

Co., Ltd by Shares

Bank Details

Shinhan Bank-Euljiro Branch

Corporate Registered No.

154511-0022220

Business Registered No.

303-81-32055

Permit & Licenses

03/2004 ISO 9001:2000

06/2004 ISO 14001:1996

 

Int’l Trade No.: 45074684

Shareholder Position

Name

Shares

%

YANG SEUNG-NAM

158,160

79.08

CHOI KEUM-YEON

41,500

20.75

KIM IN-KWON

340

0.17

TOTAL

200,000

100.00

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

Company History

1997 Established as WONTECH CO.(Sole Proprietorship)

01/28/2002 Incorporated as WONTECH CO., LTD.

05/14/2002 Changed company name to the present name

1/2005 Awarded US$ 3 Million Export Top Prize

12/2008 Awarded US$ 5 Million Export Top Prize

07/06/2010 Increased the authorized shares to 1,200,000 shares from 240,000 shares

07/07/2010 Increased capital to 1,500,000,000 KRW from 1,000,000,000 KRW

12/2010 Awarded US$ 10 Million Export Top Prize

 

 

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

Mr.

Yang Seung-Nam

Male

Korean

01/28/2002

Director

Mr.

Kim In-Kwon

Male

Korean

01/28/2002

Director

Mr.

Cho Chan-Il

Male

Korean

02/25/2009

Auditor

M/S.

Choi Keum-Yeon

Female

Korean

01/28/2002

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2009

11,158,422,000

8,698,988,000

403,393,000

2008

11,757,835,000

6,143,645,000

460,741,000

2007

6,408,316,000

5,222,006,000

59,553,000

2006

3,585,070,000

 

20,120,000

 

 

Financial Description

 

Authorized Capital(KRW)

6,000,000,000

Paid-Up Capital(KRW)

1,500,000,000

Total Issues Shares

300,000

 

Balance Sheet

 

Unit : Korean Won

As of 12/31/2009

As of 12/31/2008

As of 12/31/2007

Total Assets

8,698,988,000

6,143,645,000

5,222,006,000

Current Assets

5,153,864,000

3,665,707,000

3,393,522,000

-Quick Assets

-

-

-

-Inventories

-

-

-

Fixed Assets

3,545,124,000

2,477,938,000

1,828,484,000

-Investment

-

-

-

-Tangibles

-

-

-

-Intangibles

-

-

-

Total Liabilities

6,635,748,000

5,179,407,000

4,718,510,000

Current Liabilities

5,834,986,000

4,520,780,000

3,943,102,000

Fixed Liabilities

800,762,000

658,627,000

775,408,000

Capital Stock

1,000,000,000

300,000,000

300,000,000

Capital Surplus

-

-

-

Profit Surplus

1,067,630,000

664,238,000

203,496,000

Capital Adjustment

-4,390,000

-

-

Total Equity

2,063,240,000

964,238,000

503,496,000

Liab. & Shareholder’s Equity

8,698,988,000

6,143,645,000

5,222,006,000

 

 

Income Statement

 

Unit : Korean Won

As of 12/31/2009

As of 12/31/2008

As of 12/31/2007

Sales

11,158,422,000

11,757,835,000

6,408,316,000

Cost of Sold Goods

9,025,671,000

10,323,580,000

5,603,913,000

Gross Profit

2,132,751,000

1,434,255,000

804,403,000

Selling & Admin. Expenses

1,225,356,000

1,090,033,000

726,988,000

Operating Income

907,395,000

344,222,000

77,415,000

Non-Operating Income

800,762,000

658,627,000

775,408,000

Non-Operating Expenses

739,382,000

232,989,000

100,089,000

Ordinary Income

453,852,000

469,919,000

63,455,000

Special Income

-

-

-

Income Before Taxes

453,852,000

469,919,000

63,455,000

Income Taxes Expenses

50,459,000

9,178,000

3,902,000

Net Income

403,393,000

460,741,000

59,553,000

 

 

Cash Flows

 

Unit : Korean Won

As of 12/31/2009

As of 12/31/2008

As of 12/31/2007

Cash Flows from Operating

 

 

 

-Net Income

 

 

 

-Exp. without Cash Outflow

 

 

 

-Revenue without Cash Inflows

 

 

 

-Changes in Asset/ & Liability

 

 

 

Cash Flows from Investing

 

 

 

-Cash Inflow from Investing

 

 

 

-Cash Outflows for Investing

 

 

 

Cash Flows from Financing

 

 

 

-Cash Inflows from Financing

 

 

 

-Cash Outflows from Financing

 

 

 

Increase/Decrease in Cash

800,762,000

658,627,000

775,408,000

Cash at the Beginning of Year

-

-

-

Cash at the End of Year

739,382,000

232,989,000

100,089,000

 

 

Products, Technologies, Services Description

 

Main Products & Services

Tinting Film, Standard Film, Reflective Film, IR Cut Film, Safety Film

 

Brand Name : FEELM, LOVIEW, ENERV

 

 

Trade Partners & Competitors

 

Competitors

NEXFIL CO., LTD.

101-66, DEOKPYEONG-RI, MAJANG-MYEON, ICHEON-SI, GYEONGGI-DO, KOREA

TEL:+82-1544-9991  FAX:+82-31-332-3265

 

CNC TECH LTD.

1-5, YONGDU-RI, GONGDO-EUP, ANSEONG-SI, GYEONGGI-DO, KOREA

TEL:+82-31-691-7660  FAX:+82-2-3283-8002

 

CNK CORPORATION

RM. 413, ANYANG VENTURETEL, 1107-1, BISAN-DONG, DONGAN-GU, ANYANG-SI, GYEONGGI-DO, KOREA

TEL:+82-31-385-0377  FAX:+82-31-385-0378

 

Related Parties

(Subsidiaries, Joint-Venture & Affiliates)

 

Overseas Office

Europe Branch office in Frankfurt, Germany(WINTECH GMBH)

Overseas Branch

China Branch Office in Shenzhen, China(WINTECH CHINA CO., LTD)

Asia Branch Office in Singapore (WINTECH ASIA PTE. LTD.)

America Branch Office in Los Angeles, USA (WINTECH AMERICA, INC.)

 

 

Sales by Region

(Activity & Markets)

 

The Subject exports to Brazil, Indonesia, Malaysia, Thailand, Singapore, Japan, China and USA.

 

 

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.