MIRA INFORM REPORT
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Report Date : |
29.06.2011 |
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Tel. No.: |
82 31 215 7341 |
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Fax No.: |
82 31 215 7340 |
IDENTIFICATION DETAILS
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Name : |
SEC CO., LTD. |
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Registered Office : |
332-2, Woncheon-dong, Yeongtong-gu, Suwon-si, Gyeonggi-do, Korea, Rm. 415, Factory World, Zip Code 443-758 |
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Country : |
South korea |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
22.03.2000 |
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Com. Reg. No.: |
124-81-71120 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Manufacture of Line Telecommunication Apparatuses |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 – 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 |
SEC CO., LTD. (Korean Company
Name : “(주)쎄크”) |
|
Registered Address |
332-2, Woncheon-dong, Yeongtong-gu,
Suwon-si, Gyeonggi-do, Korea |
|
Building |
Rm. 415, Factory World |
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Zip Code |
443-758 |
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Tel |
+82-31-215-7341~2 |
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Fax |
+82-31-215-7343 |
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E-mail |
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|
Website |
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Trading Address |
Rm. 415, Factory World, 332-2,
Woncheon-dong, Yeongtong-gu, Suwon-si, Gyeonggi-do, Korea |
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Tel |
+82-31-215-7341~2 |
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Fax |
+82-31-215-7343 |
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Type |
Export/Import |
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Industry |
Manufacture of Line Telecommunication Apparatuses |
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Main Business |
Optical Components, X-ray Inspection Machine, TAB IS Potting System,
Potting System, Automation Machine, Flip Chip Bonder, Scanning Electron
Microscope |
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Established (mm/dd/yyyy) |
03/22/2000 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Video and combination video and audio
presentation equipment and hardware and controllers(45111800) |
|
Sell |
Sanding machines(23101509) |
|
Sell |
Ultraviolet disinfection equipment(47101517) |
|
Sell |
Semiconductor process systems(23211101) |
|
Sell |
X ray radiography examination
equipment(41111808) |
|
Sell |
Lugs connectors and terminals(39121400) |
|
Buy |
Micrometers(41111601) |
|
Buy |
Linear motion guides(23153030) |
|
Buy |
Control unit(43201542) |
|
Buy |
Detectors(32101519) |
|
Buy |
Graphics or video accelerator
cards(43201401) |
CEO’s
|
Name |
Kim Jong-Hyun |
|
Address |
B-3303, 93-1, Bansong-dong,
Hwaseong-si, Gyeonggi-do, Korea |
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Date of Birth |
02/19/1963 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
|
Capital (KRW) |
2,137,500,000 |
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Employees |
93 |
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Formation |
Co., Ltd by Shares Venture Business |
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Bank Details |
Industrial Bank of Korea-Wonchun Dong
Branch |
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Corporate Registered No. |
1301110-059360 |
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Business Registered No. |
124-81-71120 |
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Permit & Licenses |
03/31/2006 ISO 9001 12/2007 CE Mark 12/2007 CE Mark Int’l Trade No.: 21044735 |
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Shareholder Position |
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Company History |
03/22/2000 Incorporated as the present name 09/10/2001 Increased the authorized shares
to 10,000,000 shares from 800,000 shares 05/07/2002 Increased capital to
2,137,500,000 KRW from 855,000,000 KRW 10/2002 Designated as a Venture Business 11/26/2004 Designated as an INNO-BIZ
Company 11/12/2009 Designated as a Venture Business
again |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Kim Jong-Hyun |
Male |
Korean |
03/22/2002 |
|
Director |
Mr. |
Park Hae-Bong |
Male |
Korean |
03/21/2003 |
|
Director |
Mr. |
Jung Poong-Keun |
Male |
Korean |
02/18/2002 |
|
Auditor |
M/S. |
Jang Soon-Duck |
Female |
Korean |
03/31/2009 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
18,674,461,281 |
15,831,198,358 |
964,874,056 |
|
|
2009 |
10,321,698,711 |
16,107,844,181 |
1,317,248,544 |
|
2008 |
11,251,631,067 |
16,475,787,566 |
126,546,680 |
|
2007 |
10,522,176,129 |
15,288,110,059 |
-707,915,322 |
|
2006 |
11,294,003,757 |
14,731,760,175 |
32,461,753 |
Financial Description
|
Authorized Capital(KRW) |
5,000,000,000 |
|
Paid-Up Capital(KRW) |
2,137,500,000 |
|
Total Issues Shares |
4,275,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
15,831,198,358 |
16,107,844,181 |
16,475,787,566 |
|
Current Assets |
9,909,036,504 |
10,508,309,506 |
5,044,714,238 |
|
-Quick Assets |
5,583,852,990 |
8,789,299,787 |
3,052,983,054 |
|
-Inventories |
4,325,183,514 |
1,719,009,719 |
1,991,731,184 |
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Fixed Assets |
5,922,161,854 |
5,599,534,675 |
11,431,073,328 |
|
-Investment |
861,297,428 |
634,908,982 |
524,527,955 |
|
-Tangibles |
1,559,543,945 |
1,255,835,692 |
7,186,966,887 |
|
-Intangibles |
2,344,996,316 |
2,910,519,400 |
3,048,946,466 |
|
-Others |
1,156,324,165 |
798,270,601 |
670,632,020 |
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Total Liabilities |
8,306,662,369 |
9,457,764,640 |
11,401,535,252 |
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Current Liabilities |
5,219,601,187 |
6,117,427,394 |
6,919,853,581 |
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Fixed Liabilities |
3,087,061,182 |
3,340,337,246 |
4,481,681,671 |
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Capital Stock |
2,137,500,000 |
2,137,500,000 |
2,137,500,000 |
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Capital Surplus |
30,140,700 |
30,140,700 |
30,140,700 |
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Profit Surplus |
5,409,151,397 |
4,444,277,341 |
3,200,014,447 |
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Capital Adjustment |
-52,256,108 |
38,161,500 |
-293,402,833 |
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Total Equity |
7,524,535,989 |
6,650,079,541 |
5,074,252,314 |
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Liab. &
Shareholder’s Equity |
15,831,198,358 |
16,107,844,181 |
16,475,787,566 |
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Current Liabilities |
5,219,601,187 |
6,117,427,394 |
6,919,853,581 |
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Trade Payables |
2,159,841,426 |
1,049,467,930 |
915,131,351 |
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Short-Term Borrowings |
1,000,000,000 |
3,550,000,000 |
2,800,000,000 |
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Withholdings |
68,240,880 |
36,133,073 |
34,122,926 |
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Advance Receipts |
652,374,935 |
308,762,000 |
218,970,000 |
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VAT Withhold |
80,270,650 |
- |
40,498,023 |
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Accrued Expenses |
506,483,296 |
506,424,391 |
200,491,281 |
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Current Portion of Debentures |
752,390,000 |
666,640,000 |
710,640,000 |
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Current Portion of Long-Term Debts |
- |
- |
2,000,000,000 |
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Fixed Liabilities |
3,087,061,182 |
3,340,337,246 |
4,481,681,671 |
|
Long-Term Borrowings |
380,910,000 |
1,133,300,000 |
3,589,360,000 |
|
Debentures |
1,000,000,000 |
1,000,000,000 |
- |
|
Provision for Severance & Retirement |
1,276,571,253 |
986,901,660 |
752,357,871 |
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Long-Term Account Payables |
430,559,800 |
221,761,800 |
139,963,800 |
Income
Statement
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|||
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Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
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Sales |
18,674,461,281 |
10,321,698,711 |
11,251,631,067 |
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Cost of Sold Goods |
10,892,904,772 |
6,840,924,494 |
7,550,358,529 |
|
Gross Profit |
7,781,556,509 |
3,480,774,217 |
3,701,272,538 |
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Selling & Admin. Expenses |
6,155,969,118 |
4,448,096,947 |
3,078,181,602 |
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Operating Income |
1,625,587,391 |
-967,322,730 |
623,090,936 |
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Non-Operating Income |
202,988,257 |
5,026,570,307 |
233,631,892 |
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Non-Operating Expenses |
1,193,725,686 |
2,844,077,072 |
711,486,332 |
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Income Before Taxes |
634,849,962 |
1,215,170,505 |
145,236,496 |
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Income Taxes Expenses |
-330,024,094 |
-102,078,039 |
18,689,816 |
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Net Income |
964,874,056 |
1,317,248,544 |
126,546,680 |
Cash
Flows
|
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows from Operating |
101,303,054 |
-153,934,709 |
1,755,187,624 |
|
-Net Income |
964,874,056 |
1,317,248,544 |
126,546,680 |
|
-Exp. without Cash Outflow |
1,868,104,043 |
3,591,773,853 |
972,455,677 |
|
-Revenue without Cash Inflows |
-93,801,364 |
-4,887,552,414 |
-72,575,651 |
|
-Changes in Asset/ & Liability |
-2,637,873,681 |
-175,404,692 |
728,760,918 |
|
Cash Flows from Investing |
-332,762,778 |
5,328,277,526 |
-2,869,594,812 |
|
-Cash Inflow from Investing |
2,571,365,605 |
10,950,368,426 |
357,791,560 |
|
-Cash Outflows for Investing |
-2,904,128,383 |
-5,622,090,900 |
-3,227,386,372 |
|
Cash Flows from Financing |
-1,512,650,000 |
-2,463,070,000 |
1,896,780,945 |
|
-Cash Inflows from Financing |
1,703,990,000 |
7,686,990,000 |
2,362,182,800 |
|
-Cash Outflows from Financing |
-3,216,640,000 |
-10,150,060,000 |
-465,401,855 |
|
Increase/Decrease in Cash |
-1,744,109,724 |
2,711,272,817 |
782,373,757 |
|
Cash at the Beginning of Year |
4,100,299,850 |
1,389,027,033 |
606,653,276 |
|
Cash at the End of Year |
2,356,190,126 |
4,100,299,850 |
1,389,027,033 |
Products, Technologies, Services Description
|
Main Products & Services |
Optical Components, X-ray Inspection Machine, TAB IS Potting System,
Potting System, Automation Machine, Flip Chip Bonder, Scanning Electron
Microscope |
Trade Partners & Competitors
|
Competitors |
DAE DONG HIGHTECH CORP. NA-737, IEZEN MECA ZONE, 2979, HAGUN-RI,
YANGCHON-MYEON, GIMPO-SI, GYEONGGI-DO, KOREA TEL:+82-2-2655-0123 FAX:+82-2-2655-0530 SAMIL TECH CO., LTD. 768-4, OJEONG-DONG, OJEONG-GU, BUCHEON-SI,
GYEONGGI-DO, KOREA TEL:+82-32-663-6323~5 FAX:+82-32-663-6326 TEK KOREA CO., LTD. RM. 512, AMIGO TOWER, 358-2, YATAP-DONG,
BUNDANG-GU, SEONGNAM-SI, GYEONGGI-DO, KOREA TEL:+82-31-622-0060~8 FAX:+82-31-622-0069 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Cooperative Enterprise |
-Insured Company HEUNGKUK FIRE & MARINE INSURANCE CO., LTD.(110111-0016728) SAMSUNG FIRE & MARINE INSURANCE CO., LTD.(110111-0005078) |
Sales by Region
(Activity & Markets)
The Subject deals
with the companies in China, Taiwan, Hong Kong, Japan, Malaysia and Singapore.
Court Action
Not Available.
News Clipping
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.05 |
|
UK Pound |
1 |
Rs.71.92 |
|
Euro |
1 |
Rs.64.37 |
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 |
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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.