MIRA INFORM REPORT
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Report Date : |
11.07.2011 |
IDENTIFICATION DETAILS
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Name : |
TECHNO PLUS CO., LTD |
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Formerly Known As : |
Kumkwang Co., Ltd. |
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Registered Office : |
695-2, Gojan-dong, Namdong-gu, Incheon, Korea130B-3L, Namdong
Industrial, Complex, Zip Code 405-821 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
09.01.1985 |
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Com. Reg. No.: |
139-81-01500 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Manufacture of Molding Patterns, Moulds and Industrial Patterns |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
South Korea |
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 |
TECHNO PLUS
CO., LTD. (Korean Company Name : “(주)테크노플러스”) |
|
Registered Address |
695-2, Gojan-dong, Namdong-gu, Incheon,
Korea |
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Building |
130B-3L, Namdong Industrial Complex |
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Zip Code |
405-821 |
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Tel |
+82-32-814-2211 |
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Fax |
+82-32-814-1190 |
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Trading Address |
130B-3L, Namdong Industrial Complex,
695-2, Gojan-dong, Namdong-gu, Incheon, Korea |
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Tel |
+82-32-814-2211 |
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Fax |
+82-32-814-1190 |
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Other Address-2nd Factory |
36B-9L, Namdong Industrial Complex, 610-8, Namchon-dong, Namdong-gu,
Incheon, Korea |
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Tel |
+82-32-815-0013 |
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Other Address-Pocheon Branch |
959, Nogok-ri,
Idong-myeon, Pocheon-si, Gyeonggi-do, Korea |
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Type |
Export |
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Industry |
Manufacture of Molding Patterns, Moulds and Industrial Patterns |
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Main Business |
Diamond Tools, Molds |
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Sub
Business |
Manufacture of Saws, Saw Blades and Interchangeable Tools |
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Established (mm/dd/yyyy) |
01/09/1985 |
The Subject owns
the premises of registered HQ address and 2nd Factory.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Diamond inserts(23172012) |
CEO’s
|
Name |
Park Eun-Sook |
|
Address |
Suite 81-1406, 510, Apgujeong-dong,
Gangnam-gu, Seoul, Korea |
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Date of Birth |
12/09/1949 |
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Title |
President & CEO |
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Sex |
Female |
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Nationality |
Korean |
Profiles
|
Capital (KRW) |
2,000,000,000 |
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Employees |
310 |
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Formation |
Co., Ltd by Shares |
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Bank Details |
Industrial Bank of Korea SC First Bank of Korea-Donhwamun Branch |
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Corporate Registered No. |
120111-0060707 |
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Business Registered No. |
139-81-01500 |
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Permit & Licenses |
Int’l Trade No.: 970714 |
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Shareholder Position |
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Company History |
01/09/1985 Incorporated as Kumkwang Co.,
Ltd. 03/2000 Designated as a Venture Business 09/01/2001 Changed company name to the
present name |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
M/S. |
Park Eun-Sook |
Female |
Korean |
07/26/1998 |
|
Director |
Mr. |
Kim Sung-Kyu |
Male |
Korean |
09/02/2009 |
|
Director |
M/S. |
Kim Ji-Hyun |
Female |
Korean |
03/31/2011 |
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Auditor |
M/S. |
Kim Ji-Young |
Female |
Korean |
03/31/2011 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
21,487,130,288 |
86,339,687,236 |
8,901,673,108 |
|
|
2009 |
25,975,596,698 |
77,011,818,580 |
5,218,635,620 |
|
2008 |
20,361,322,741 |
68,660,608,805 |
2,777,588,216 |
|
2007 |
20,321,061,704 |
62,795,267,876 |
5,339,943,618 |
|
2006 |
17,451,169,986 |
57,237,659,550 |
4,438,501,533 |
Financial Description
|
Authorized Capital(KRW) |
3,000,000,000 |
|
Paid-Up Capital(KRW) |
2,000,000,000 |
|
Total Issues Shares |
400,000 |
Balance Sheet
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
86,339,687,236 |
77,011,818,580 |
68,660,608,805 |
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Current Assets |
11,676,281,133 |
7,220,369,652 |
4,147,115,157 |
|
-Quick Assets |
11,383,215,577 |
6,991,771,359 |
3,755,153,219 |
|
-Inventories |
293,065,556 |
228,598,293 |
391,961,938 |
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Fixed Assets |
74,663,406,103 |
69,791,448,928 |
64,513,493,648 |
|
-Investment |
69,327,164,320 |
62,161,749,397 |
58,957,489,811 |
|
-Tangibles |
4,535,747,428 |
6,828,951,890 |
4,853,292,260 |
|
-Intangibles |
54,275 |
307,561 |
668,497 |
|
-Others |
800,440,080 |
800,440,080 |
702,043,080 |
|
Total Liabilities |
22,932,721,446 |
22,680,931,427 |
18,628,223,232 |
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Current Liabilities |
20,800,243,871 |
18,230,039,750 |
16,369,076,803 |
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Fixed Liabilities |
2,132,477,575 |
4,450,891,677 |
2,259,146,429 |
|
Capital Stock |
2,000,000,000 |
2,000,000,000 |
2,000,000,000 |
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Capital Surplus |
963,831,444 |
963,831,444 |
963,831,444 |
|
Profit Surplus |
58,871,462,433 |
49,969,789,325 |
45,207,004,819 |
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Capital Adjustment |
1,571,671,913 |
1,397,266,384 |
1,861,549,310 |
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Total Equity |
63,406,965,790 |
54,330,887,153 |
50,032,385,573 |
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Liab. & Shareholder’s Equity |
86,339,687,236 |
77,011,818,580 |
68,660,608,805 |
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Current Liabilities |
20,800,243,871 |
18,230,039,750 |
16,369,076,803 |
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Trade Payables |
97,292,896 |
55,220,000 |
65,030,346 |
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Short-Term Borrowings |
16,400,000,000 |
14,400,000,000 |
8,400,000,000 |
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Account Payables |
671,645,777 |
626,493,763 |
317,908,282 |
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Advance Receipts |
- |
- |
2,006,920 |
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Withholdings |
46,757,606 |
51,707,763 |
44,572,690 |
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Accrued Expenses |
314,600,796 |
232,080,262 |
215,938,007 |
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Accrued Income Tax |
211,101,447 |
117,153,740 |
75,676,480 |
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VAT Withhold |
369,845,349 |
282,634,222 |
190,444,078 |
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Leasehold Deposit Received |
890,000,000 |
890,000,000 |
520,000,000 |
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Current Portion of Long-Term Debts |
299,000,000 |
74,750,000 |
37,500,000 |
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Current Portion of Debentures |
- |
- |
5,000,000,000 |
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Short-Term Borrowings to Shareholders/
Executives/ Employees |
1,500,000,000 |
1,500,000,000 |
1,500,000,000 |
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Fixed
Liabilities |
2,132,477,575 |
4,450,891,677 |
2,259,146,429 |
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Long-Term Borrowings |
1,121,250,000 |
3,420,250,000 |
1,495,000,000 |
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Provision for Severance & Retirement |
2,484,600,028 |
2,609,885,362 |
2,047,299,784 |
Income Statement
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
21,487,130,288 |
25,975,596,698 |
20,361,322,741 |
|
Cost of Sold Goods |
18,357,291,233 |
23,502,765,195 |
18,319,811,894 |
|
Gross Profit |
3,129,839,055 |
2,472,831,503 |
2,041,510,847 |
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Selling & Admin. Expenses |
1,506,107,033 |
1,117,915,270 |
1,303,780,046 |
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Operating Income |
1,623,732,022 |
1,354,916,233 |
737,730,801 |
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Non-Operating Income |
8,713,620,166 |
5,536,359,155 |
3,313,825,096 |
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Non-Operating Expenses |
1,089,143,791 |
1,486,194,388 |
1,070,263,758 |
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Income Before Taxes |
9,248,208,397 |
5,405,081,000 |
2,981,292,139 |
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Income Taxes Expenses |
346,535,289 |
186,445,380 |
203,703,923 |
|
Net Income |
8,901,673,108 |
5,218,635,620 |
2,777,588,216 |
Cash Flows
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows from Operating |
3,775,589,972 |
-1,493,421,701 |
15,885,005 |
|
-Net Income |
8,901,673,108 |
5,218,635,620 |
2,777,588,216 |
|
-Exp. without Cash Outflow |
388,653,309 |
586,860,557 |
1,299,530,705 |
|
-Revenue without Cash Inflows |
-7,403,819,430 |
-4,702,719,569 |
-2,730,026,683 |
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-Changes in Asset/ & Liability |
1,889,082,985 |
-2,596,198,309 |
-1,331,207,233 |
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Cash Flows from Investing |
-1,496,492,471 |
-2,039,288,280 |
181,519,300 |
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-Cash Inflow from Investing |
2,439,579,129 |
871,471,000 |
325,500,000 |
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-Cash Outflows for Investing |
-3,936,071,600 |
-2,910,759,280 |
-143,980,700 |
|
Cash Flows from Financing |
-74,750,000 |
3,332,500,000 |
709,000,000 |
|
-Cash Inflows from Financing |
0 |
10,665,000,000 |
8,400,000,000 |
|
-Cash Outflows from Financing |
-74,750,000 |
-7,332,500,000 |
-7,691,000,000 |
|
Increase/Decrease in Cash |
2,204,347,501 |
-200,209,981 |
906,404,305 |
|
Cash at the Beginning of Year |
860,356,026 |
1,060,566,007 |
154,161,702 |
|
Cash at the End of Year |
3,064,703,527 |
860,356,026 |
1,060,566,007 |
Products, Technologies, Services Description
|
Main Products & Services |
Diamond Tools, Molds |
Trade Partners & Competitors
|
Competitors |
JINMYUNG INDUSTRY CO., LTD. 321-2, DANGJEONG-DONG, GUNPO-SI,
GYEONGGI-DO, KOREA TEL:+82-31-455-0441~3 FAX:+82-31-455-0444 SE WOONG CO. 549, CHASAN-RI, HWADO-EUP, NAMYANGJU-SI,
GYEONGGI-DO, KOREA TEL:+82-31-593-6014 FAX:+82-31-593-6015 PACK CHEON MACHINERY CO., LTD. 427-17, CHEONGCHEON 2-DONG, BUPYEONG-GU,
INCHEON, KOREA TEL:+82-32-517-8014 FAX:+82-32-517-8024 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
CHOICE DEVELOPMENT INC DIAXIS SH TRADING, INC. NEOWINSYS INC.(134111-0176920) PHOTONWATT CO., LTD.(110111-0524119) SPINEX CO., LTD.(124311-0019003) QINGDAO SHINHAN DIAMOND IND. CO., LTD.(CHINA) SHINHAN DIAMOND
IND. CO., LTD.(124311-0004765) (71.54% held by the subject company) |
|
Subsidiary |
SHINHAN DIAMOND
IND. CO., LTD.(124311-0004765) DITEQ INC |
|
Cooperative Enterprise |
-Insured Company DONGBU INSURANCE CO., LTD.( 110111-0095285) |
Sales by Region
(Activity & Markets)
|
Sales/ Unit : KRW |
2010 |
2009 |
2008 |
|
Export |
3,982,061,671 |
5,290,070,772 |
5,735,559,061 |
|
Domestic |
17,505,068,617 |
20,685,525,926 |
14,625,763,680 |
|
Total |
21,487,130,288 |
25,975,596,698 |
20,361,322,741 |
Court Action
No.
News Clipping
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.33 |
|
UK Pound |
1 |
Rs.70.74 |
|
Euro |
1 |
Rs.63.65 |
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 |
|
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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.