MIRA INFORM
REPORT
|
Report Date : |
29.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
PROTEX KOREA CO., LTD |
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Registered Office : |
831, Yongam-ri, Bongdong-eup, Wanju-gun, |
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Country : |
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Financials (as on) : |
31.12.2008 |
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Date of Incorporation : |
27.10.1990 |
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Com. Reg. No.: |
402-81-14989 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Manufacturer of Surface-Active Agents |
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 |
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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
|
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 |
PROTEX KOREA
CO., LTD. (Korean
Company Name : “(주)프로텍스코리아”) |
|
Registered Address |
831, Yongam-ri, Bongdong-eup, Wanju-gun, |
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Zip Code |
565-902 |
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Tel |
+82-63-261-7610 |
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Fax |
+82-63-261-7613 |
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E-mail |
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|
Website |
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Trading Address |
831, Yongam-ri, Bongdong-eup, Wanju-gun, |
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Tel |
+82-63-261-7610 |
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Fax |
+82-63-261-7613 |
|
Other Address-Seoul Office |
661-32, Yeoksam 1-dong, Gangnam-gu, |
|
Tel |
+82-2-3453-8213 |
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Fax |
+82-2-3453-8082 |
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Other Address-Daegu Office |
1788-14, Wolseong-dong, Dalseo-gu, |
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Tel |
+82-53-581-9127 |
|
Fax |
+82-53-581-9128 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Surface-Active Agents |
|
Main Business |
Wholesale of Dyes, Pigments and Related Products, Finishing Agents,
Dyeing Auxiliaries |
|
Sub
Business |
Surface Active Agent |
|
Established (mm/dd/yyyy) |
10/27/1990 |
The Subject owns
the premises of registered HQ address.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Detergent surfactants(12161902) |
|
Sell |
Dispersing agents(12161904) |
|
Sell |
Flame retardants(12162100) |
|
Buy |
Organic oxides(12352119) |
|
Buy |
Inorganic acids(12352301) |
|
Buy |
Phenols or its substitutes or
derivatives(12191503) |
CEO’s
|
Name |
Lee Young-Keon |
|
Address |
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Date of Birth |
02/01/1943 |
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Title |
President & CEO |
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Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
1,700,000,000 |
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Employees |
19 |
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Formation |
Co., Ltd by Shares Foreign Direct Investment Corporation |
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Bank Details |
Industrial Bank of Korea-Yangjae Dong
Branch |
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Corporate Registered No. |
110111-0728167 |
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Business Registered No. |
402-81-14989 |
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Permit & Licenses |
Int’l Trade No.: 498447 |
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Shareholder Position |
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Company History |
10/27/1990 Incorporated as the present name 09/02/1992 Registered as a Foreign Direct Investment
Corporation |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lee Young-Keon |
Male |
Korean |
10/27/1999 |
|
Director |
Mr. |
Robert Moore |
Male |
French |
03/31/2009 |
|
Director |
Mr. |
Arno Moore |
Male |
French |
03/31/2009 |
|
Director |
Mr. |
Lee Jae-Ki |
Male |
Korean |
03/31/2009 |
|
Auditor |
Mr. |
Jung Jeong-Bok |
Male |
Korean |
03/31/2000 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
|
|
|
|
|
2008 |
7,191,000,000 |
6,549,000,000 |
542,000,000 |
|
2007 |
7,290,201,396 |
6,749,790,757 |
381,755,860 |
|
2006 |
6,723,105,780 |
7,548,950,985 |
522,664,367 |
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2005 |
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2004 |
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2003 |
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The latest
financials are not available, and the Subject Company does not have any
obligations to release its financials to the public.
Financial Description
|
Authorized Capital(KRW) |
2,000,000,000 |
|
Paid-Up Capital(KRW) |
1,700,000,000 |
|
Total Issues Shares |
170,000 |
Balance Sheet
|
Unit : Korean Won |
As of 12/31/2008 |
As of 12/31/2007 |
As of 12/31/2006 |
|
Total Assets |
6,549,000,000 |
6,749,790,757 |
7,548,950,985 |
|
Current Assets |
4,184,000,000 |
4,374,934,589 |
4,164,677,266 |
|
-Quick Assets |
2,802,000,000 |
3,077,758,678 |
2,874,200,376 |
|
-Inventories |
1,382,000,000 |
1,297,175,911 |
1,290,476,890 |
|
Fixed Assets |
2,365,000,000 |
2,374,856,168 |
3,384,273,719 |
|
-Investment |
66,000,000 |
53,935,000 |
1,037,110,000 |
|
-Tangibles |
2,017,000,000 |
2,105,987,671 |
2,170,624,346 |
|
-Intangibles |
271,000,000 |
208,759,597 |
172,425,473 |
|
-Others |
10,000,000 |
6,173,900 |
4,113,900 |
|
Total Liabilities |
1,203,000,000 |
1,445,463,158 |
2,126,379,246 |
|
Current Liabilities |
1,110,000,000 |
1,297,855,775 |
1,589,661,917 |
|
Fixed Liabilities |
93,000,000 |
147,607,383 |
536,717,329 |
|
Capital Stock |
1,700,000,000 |
1,700,000,000 |
1,700,000,000 |
|
Capital Surplus |
- |
- |
- |
|
Profit Surplus |
3,646,000,000 |
3,604,327,599 |
3,722,571,739 |
|
Capital Adjustment |
- |
- |
- |
|
Total Equity |
5,346,000,000 |
5,304,327,599 |
5,422,571,739 |
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Liab. & Shareholder’s Equity |
6,549,000,000 |
6,749,790,757 |
7,548,950,985 |
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Current Liabilities |
|
1,297,855,775 |
1,589,661,917 |
|
Trade Payables |
|
583,327,077 |
450,068,508 |
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Short-Term Borrowings |
|
- |
600,000,000 |
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Account Payables |
|
908,740 |
76,902,550 |
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Advance Receipts |
|
177,290 |
1,150,740 |
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Withholdings |
|
19,010,170 |
16,738,990 |
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VAT Withhold |
|
51,788,142 |
20,041,744 |
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Accrued Expenses |
|
272,699,205 |
388,739,015 |
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Accrued Income Tax |
|
69,945,151 |
36,020,370 |
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Current Portion of Long-Term Debts |
|
300,000,000 |
- |
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Fixed Liabilities |
|
147,607,383 |
536,717,329 |
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Long-Term Borrowings |
|
- |
300,000,000 |
|
Long-Term Account Payables |
|
110,000,000 |
215,068,768 |
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Provision for Severance & Retirement |
|
373,566,730 |
293,427,581 |
Income Statement
|
Unit : Korean Won |
As of 12/31/2008 |
As of 12/31/2007 |
As of 12/31/2006 |
|
Sales |
7,191,000,000 |
7,290,201,396 |
6,723,105,780 |
|
Cost of Sold Goods |
4,748,000,000 |
4,855,751,972 |
4,439,955,624 |
|
Gross Profit |
2,442,000,000 |
2,434,449,424 |
2,283,150,156 |
|
Selling & Admin. Expenses |
1,970,000,000 |
1,859,629,862 |
1,625,967,021 |
|
Operating Income |
473,000,000 |
574,819,562 |
657,183,135 |
|
Non-Operating Income |
299,000,000 |
80,334,709 |
45,643,220 |
|
Non-Operating Expenses |
176,000,000 |
165,390,520 |
97,603,828 |
|
Ordinary Income |
596,000,000 |
489,763,751 |
605,222,527 |
|
Special Income |
- |
- |
- |
|
Income Before Taxes |
596,000,000 |
489,763,751 |
605,222,527 |
|
Income Taxes Expenses |
54,000,000 |
108,007,891 |
82,558,160 |
|
Net Income |
542,000,000 |
381,755,860 |
522,664,367 |
Cash Flows
|
Unit : Korean Won |
As of 12/31/2008 |
As of 12/31/2007 |
As of 12/31/2006 |
|
Cash Flows from Operating |
|
362,941,320 |
670,590,078 |
|
-Net Income |
|
381,755,860 |
522,664,367 |
|
-Exp. without Cash Outflow |
|
522,568,936 |
255,107,342 |
|
- |
|
-9,560,200 |
-4,952,486 |
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-Changes in Asset/ & Liability |
|
-531,823,276 |
-102,229,145 |
|
Cash Flows from Investing |
|
813,798,544 |
-391,846,934 |
|
-Cash Inflow from Investing |
|
1,403,365,000 |
584,452,858 |
|
-Cash Outflows for Investing |
|
-589,566,456 |
-976,299,792 |
|
Cash Flows from Financing |
|
-1,100,000,000 |
-75,000,000 |
|
-Cash Inflows from Financing |
|
450,000,000 |
1,550,000,000 |
|
-Cash Outflows from Financing |
|
-1,550,000,000 |
-1,625,000,000 |
|
Increase/Decrease in Cash |
|
76,739,864 |
203,743,144 |
|
Cash at the Beginning of Year |
|
266,353,161 |
62,610,017 |
|
Cash at the End of Year |
|
343,093,025 |
266,353,161 |
Products, Technologies, Services Description
|
Main Products & Services |
Surface Active Agent |
Trade Partners & Competitors
|
Suppliers |
PROTEX S. A. SYNTHRON S. A. SINO-PROX CHEMICALS CO., LTD. SUZHOU PROX-ANLI CO., LTD. PROXASIA CO., LTD |
|
Customers |
SYNTHRON S. A. SINO-PROX CHEMICALS CO., LTD. SUZHOU PROX-ANLI CO., LTD. PT. PRODIAN CHEMICALS SHANDONG PROX-CHEM SPECIALTY CHEMICALS CO.,
LTD |
|
Competitors |
COLORANT COREA CORPORATION 782-4, EOGOK-DONG, YANGSAN-SI, TEL:+82-55-388-9003 FAX:+82-55-388-9006 MYUNGJIN TRADING CO., LTD. 4TH FL., MYEONGJIN BLDG., 236-7, NONHYEON
2-DONG, GANGNAM-GU, TEL:+82-2-546-5040 FAX:+82-2-546-6566 YOOJIN CHEMICAL CO., LTD. 8B-28L, BANWOL INDUSTRIAL COMPLEX, 743-7,
WONSI-DONG, DANWON-GU, ANSAN-SI, TEL:+82-31-494-0618 FAX:+82-31-494-0617 |
Related Parties
(Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
PROTEX INTERNATIONAL S.A. PROTEX S. A. SYNTHRON S. A. PROTELOR SINO-PROX CHEMICALS CO., LTD. SUZHOU PROX-ANLI CO., LTD. PT. PRODIAN CHEMICALS PROXASIA CO., LTD SHANDONG PROX-CHEM SPECIALTY CHEMICALS CO.,
LTD |
|
Corporate Ownership |
PROTEX
INTERNATIONAL S.A( |
|
Major Shareholders |
PROTEX
INTERNATIONAL S.A( |
|
Cooperative |
-Insured Company AIG -Management Consulting and Technical
Support from PROTEX
INTERNATIONAL S.A( |
Sales by Region
(Activity & Markets)
The Subject deals with
the companies in
Court Action
Not Available.
News Clipping
----
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.74 |
|
|
1 |
Rs.72.73 |
|
Euro |
1 |
Rs.62.73 |
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.