MIRA
INFORM REPORT
|
Report Date : |
12.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
PARK SYSTEMS CORP. |
|
|
|
|
Registered Office : |
4th Fl., Korea Advanced Nano Fab Center
906-10, Iui-dong, Yeongtong-gu, Suwon-si, Gyeonggi-do, Korea 443-270 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
02.04.1997 |
|
|
|
|
Com. Reg. No.: |
214-86-15106 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Manufacture of Measuring, Testing, Navigation, Control and Other
Precision Instruments |
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
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 |
PARK SYSTEMS CORP. (Korean Company Name : “(주)파크시스템스”) |
|
Registered Address |
906-10, Iui-dong, Yeongtong-gu, Suwon-si,
Gyeonggi-do, Korea |
|
Building |
4th Fl., Korea Advanced Nano Fab Center |
|
Zip Code |
443-270 |
|
Tel |
+82-31-546-6800 |
|
Fax |
+82-31-546-6805 |
|
E-mail |
gsm@parkafm.com |
|
Website |
www.parkafm.co.kr |
|
Trading Address |
4th Fl., Korea Advanced Nano Fab Center,
906-10, Iui-dong, Yeongtong-gu, Suwon-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-546-6800 |
|
Fax |
+82-31-546-6805 |
|
Type |
Export |
|
Industry |
Manufacture of Measuring, Testing, Navigation, Control and Other
Precision Instruments |
|
Main Business |
Scanning Probe Microscope, Atomic Force Microscope |
|
Established (mm/dd/yyyy) |
04/02/1997 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Measuring and observing and testing
instruments(41110000) |
|
Sell |
Viewing and observing instruments and
accessories(41111700) |
|
Sell |
Metallurgical microscopes(41111718) |
CEO’s
|
Name |
Park Sang-Il |
|
Address |
Suite 1305-3204, 918, Unjung-dong,
Bundang-gu, Seongnam-si, Gyeonggi-do, Korea |
|
Date of Birth |
08/11/1958 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
2,614,777,500 |
||||||||||||||||||||||||||||||||||||
|
Employees |
94 |
||||||||||||||||||||||||||||||||||||
|
Formation |
Co., Ltd by Shares Venture Business Foreign Direct Investment Corporation |
||||||||||||||||||||||||||||||||||||
|
Bank Details |
Citibank, Korea-Sungnam Industrial Complex
Branch |
||||||||||||||||||||||||||||||||||||
|
Corporate Registered No. |
110111-1397648 |
||||||||||||||||||||||||||||||||||||
|
Business Registered No. |
214-86-15106 |
||||||||||||||||||||||||||||||||||||
|
Permit & Licenses |
07/203 NT Mark 10/2003 CE Mark Int’l Trade No.: 11423665 |
||||||||||||||||||||||||||||||||||||
|
Shareholder Position |
(*)The list is based as of 12/31/2010. |
||||||||||||||||||||||||||||||||||||
|
Company History |
04/02/1997 Incorporated as PSIA CO., LTD. 07/1998 Designated as a Venture Business 07/15/2006 Moved to the present HQ address from 517-13, Sangdaewon-dong, Jungwon-gu, Seongnam-si, Gyeonggi-do, Korea 11/15/2006 Designated as a Venture Business again 03/2007 Changed company name to the present
name 10/07/2008 Registered as a Foreign Direct
Investment Corporation 11/15/2009 11/15/2006 Designated as a Venture Business again 02/21/2011 Increased capital to
2,614,777,500 KRW from 2,582,527,500 KRW |
||||||||||||||||||||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Park Sang-Il |
Male |
Korean |
02/15/2005 |
|
Director |
Mr. |
Kwon Sook-Il |
Male |
Korean |
02/20/2003 |
|
Director |
Mr. |
Jung Eui-Cheol |
Male |
Korean |
11/11/2008 |
|
Outside Director |
Mr. |
Lee Kwang-Hyung |
Male |
Korean |
02/15/2005 |
|
Outside Director |
Mr. |
Sung Chang-Mo |
Male |
Korean |
03/08/2007 |
|
Outside Director |
Mr. |
Lee Hae-Won |
Male |
Korean |
03/16/2011 |
|
Auditor |
Mr. |
Kim Hong-Sub |
Male |
Korean |
02/28/2006 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
16,489,168,524 |
15,244,426,020 |
1,341,230,148 |
|
|
2009 |
14,188,709,918 |
15,813,492,674 |
364,448,593 |
|
2008 |
11,771,379,962 |
16,483,112,404 |
1,200,498,998 |
|
2007 |
9,577,741,478 |
10,854,743,027 |
977,204,680 |
|
2006 |
9,392,063,033 |
10,213,232,689 |
438,755,418 |
Financial Description
|
Authorized Capital(KRW) |
25,000,000,000 |
|
Paid-Up Capital(KRW) |
2,614,777,500 |
|
Total Issues Shares |
5,229,555(Common : 4,729,555 / Preferable : 500,000) |
Balance
Sheet
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
15,244,426,020 |
15,813,492,674 |
16,483,112,404 |
|
Current Assets |
11,556,334,581 |
12,006,110,193 |
12,615,611,162 |
|
-Quick Assets |
8,154,054,435 |
9,081,240,589 |
10,289,705,634 |
|
-Inventories |
3,402,280,146 |
2,924,869,604 |
2,325,905,528 |
|
Fixed Assets |
3,688,091,439 |
3,807,382,481 |
3,867,501,242 |
|
-Investment |
543,337,314 |
275,000,000 |
125,000,000 |
|
-Tangibles |
959,472,470 |
1,051,710,542 |
1,183,398,087 |
|
-Intangibles |
399,401,655 |
638,717,403 |
878,033,151 |
|
-Others |
1,785,880,000 |
1,841,954,536 |
1,681,070,004 |
|
Total Liabilities |
5,373,604,841 |
5,924,312,440 |
6,868,452,463 |
|
Current Liabilities |
3,579,017,511 |
3,781,106,530 |
4,119,423,963 |
|
Fixed Liabilities |
1,794,587,330 |
2,143,205,910 |
2,749,028,500 |
|
Capital Stock |
2,582,527,500 |
2,572,527,500 |
2,542,627,500 |
|
Capital Surplus |
2,988,496,775 |
2,981,518,568 |
2,962,441,825 |
|
Profit Surplus |
4,129,682,498 |
3,966,852,588 |
3,995,748,213 |
|
Capital Adjustment |
170,114,406 |
368,281,578 |
113,842,403 |
|
Total Equity |
9,870,821,179 |
9,889,180,234 |
9,614,659,941 |
|
Liab. & Shareholder’s Equity |
15,244,426,020 |
15,813,492,674 |
16,483,112,404 |
|
Current Liabilities |
3,579,017,511 |
3,781,106,530 |
4,119,423,963 |
|
Trade Payables |
1,334,692,553 |
764,753,953 |
1,423,228,862 |
|
Short-Term Borrowings |
797,230,000 |
1,300,000,000 |
1,300,000,000 |
|
Account Payables |
430,706,803 |
456,570,485 |
329,765,449 |
|
Accrued Expenses |
152,819,471 |
214,300,515 |
302,527,082 |
|
Withholdings |
92,261,685 |
65,270,373 |
40,799,660 |
|
Accrued Income Tax |
67,537,998 |
150,792,343 |
148,969,129 |
|
Advance Receipts |
2,039,459 |
53,403,095 |
22,590,909 |
|
Current Portion of Long-Term Debts |
575,000,000 |
725,000,000 |
500,000,000 |
|
Provision for Sales Guarantee |
66,348,639 |
15,776,070 |
24,380,283 |
|
Provision for Refund |
60,380,903 |
35,239,696 |
27,162,589 |
|
Fixed Liabilities |
1,794,587,330 |
2,143,205,910 |
2,749,028,500 |
|
Long-Term Borrowings |
675,000,000 |
1,250,000,000 |
1,975,000,000 |
|
Long-Term Account Payables |
899,351,060 |
773,205,910 |
654,028,500 |
|
Leasehold Deposit Received |
120,000,000 |
120,000,000 |
120,000,000 |
|
Deferred Income Tax Credit |
100,236,270 |
- |
- |
Income
Statement
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
16,489,168,524 |
14,188,709,918 |
11,771,379,962 |
|
Cost of Sold Goods |
7,150,102,478 |
5,463,191,332 |
5,137,365,922 |
|
Gross Profit |
9,339,066,046 |
8,725,518,586 |
6,634,014,040 |
|
Selling & Admin. Expenses |
6,747,164,443 |
6,731,279,125 |
6,603,484,044 |
|
Operating Income |
2,591,901,603 |
1,994,239,461 |
30,529,996 |
|
Non-Operating Income |
901,023,327 |
364,469,340 |
1,433,291,541 |
|
Non-Operating Expenses |
1,741,823,919 |
1,580,891,516 |
533,700,789 |
|
Income Before Taxes |
1,751,101,011 |
777,817,285 |
930,120,748 |
|
Income Taxes Expenses |
409,870,863 |
413,368,692 |
-270,378,250 |
|
Net Income |
1,341,230,148 |
364,448,593 |
1,200,498,998 |
Cash
Flows
|
Unit :
Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows
from Operating |
3,320,184,735 |
2,494,691,030 |
-1,543,905,412 |
|
-Net Income |
1,341,230,148 |
364,448,593 |
1,200,498,998 |
|
-Exp.
without Cash Outflow |
2,093,152,625 |
1,846,181,912 |
1,771,086,213 |
|
-Revenue
without Cash Inflows |
-363,316,540 |
-7,463,011 |
-743,914,987 |
|
-Changes in
Asset/ & Liability |
249,118,502 |
291,523,536 |
-3,771,575,636 |
|
Cash Flows
from Investing |
-3,673,590,640 |
-241,842,007 |
-1,724,906,731 |
|
-Cash Inflow
from Investing |
5,181,818 |
1,014,443,108 |
330,000 |
|
-Cash
Outflows for Investing |
-3,678,772,458 |
-1,256,285,115 |
-1,725,236,731 |
|
Cash Flows
from Financing |
-1,215,580,000 |
-460,058,600 |
3,650,261,600 |
|
-Cash
Inflows from Financing |
809,420,000 |
39,941,400 |
4,822,761,600 |
|
-Cash
Outflows from Financing |
-2,025,000,000 |
-500,000,000 |
-1,172,500,000 |
|
Increase/Decrease
in Cash |
-1,568,985,905 |
1,792,790,423 |
381,449,457 |
|
Cash at the
Beginning of Year |
3,013,915,283 |
1,221,124,860 |
839,675,403 |
|
Cash at the
End of Year |
1,444,929,378 |
3,013,915,283 |
1,221,124,860 |
Products, Technologies, Services Description
|
Main Products & Services |
Scanning Probe Microscope, Atomic Force Microscope |
Trade Partners & Competitors
|
Competitors |
DONG IL SHIMADZU CORPORATION 3RD FL., DI BLDG., 58-6, NONHYEON 1-DONG,
GANGNAM-GU, SEOUL, KOREA TEL:+82-2-540-5541 FAX:+82-2-541-2163 SEC CO., LTD. RM. 415, FACTORY WORLD, 332-2,
WONCHEON-DONG, YEONGTONG-GU, SUWON-SI, GYEONGGI-DO, KOREA TEL:+82-31-215-7341~2 FAX:+82-31-215-7343 JEOL KOREA LTD. 7TH FL., DONG-U BLDG., 458-5, GIL-DONG,
GANGDONG-GU, SEOUL, KOREA TEL:+82-2-511-5501 FAX:+82-2-511-2635 |
Related Parties
(Subsidiaries,
Joint-Venture & Affiliates)
|
Subsidiary |
PARK SYSTEMS INC. (100.0% held by the subject company) 3040 OLCOTT ST. SANTA CLARA, CA 95054 USA TEL: +1-408-986-1110 FAX:
+1-408-986-1199 PARK SYSTEMS JAPAN INC. (100.0% held by the subject company) 1-17-1 KANDA-NISHIKICHO, CHIYODA-KU, TOKYO,
JAPAN TEL: +81-3-3219-1001 FAX: +81-3-3219-1002 |
|
Cooperative Enterprise |
-Insured company SAMSUNG FIRE & MARINE INSURANCE CO., LTD.(110111-0005078) |
Sales by Region
(Activity &
Markets)
The Subject exports
to China, Taiwan, France, Germany, Italy, Japan, Philippines, UK and USA.
Court Action
No.
News Clipping
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.37 |
|
|
1 |
Rs.70.84 |
|
Euro |
1 |
Rs.62.96 |
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.