MIRA INFORM
REPORT
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Report Date : |
29.06.2011 |
IDENTIFICATION DETAILS
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Name : |
YOOJIN MATERIAL IND. CO., LTD. |
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Registered Office : |
223-269, Seongnam 2-dong, Seo-gu, Incheon, Korea, Zip Code 404-825 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2008 |
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Date of Incorporation : |
23.11.1999 |
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Com. Reg. No.: |
137-81-24337 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Recovery of Metal Waste and Scrap |
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RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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 |
YOOJIN MATERIAL IND. CO., LTD. (Korean Company Name : “(주)유진소재산업”) |
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Registered Address |
223-269, Seongnam 2-dong, Seo-gu, Incheon,
Korea |
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Zip Code |
404-825 |
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Tel |
+82-32-571-0278 |
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Fax |
+82-32-573-6732 |
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E-mail |
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Website |
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Trading Address |
223-269, Seongnam 2-dong, Seo-gu, Incheon,
Korea |
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Tel |
+82-32-571-0278 |
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Fax |
+82-32-573-6732 |
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Other Address-Ulsan Factory |
1247-24, Naengcheon-ri, Oedong-eup, Gyeongju-si, Gyeongsangbuk-do,
Korea |
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Tel |
+82-54-773-8278 |
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Fax |
+82-54-773-8279 |
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Type |
Export |
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Industry |
Recovery of Metal Waste and Scrap |
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Main Business |
Cast Iron Powder, Chip Briquette |
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Established (mm/dd/yyyy) |
11/23/1999 |
The Subject owns
the premises of registered HQ address and Ulsan Factory.
Detailed Products
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Chemistry reagents or solutions(41116105) |
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Sell |
Iron(11101713) |
CEO’s
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Name |
Kim Jun-Kyeom |
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Address |
Suite 101-1603, 2-3, Songdo-dong,
Yeonsu-gu, Incheon, Korea |
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Date of Birth |
11/01/1938 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
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Capital (KRW) |
1,000,000,000 |
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Employees |
14 |
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Formation |
Co., Ltd by Shares Foreign Direct Investment Corporation |
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Bank Details |
Shinhan Bank-Songhyun Dong Corporate
Finance Branch Citibank, Korea-Shinhyun Branch |
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Corporate Registered No. |
120111-0207143 |
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Business Registered No. |
137-81-24337 |
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Permit & Licenses |
Int’l Trade No.: 230791 |
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Shareholder Position |
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Company History |
09/15/1974 Established as Sole
Proprietorship 11/23/1999 Incorporated as the present name 11/25/1999 Registered as a Foreign Direct
Investment Corporation 06/02/2000 Designated as a Venture Business 05/23/2006 Designated as a Venture Business again 09/2007 Designated as an INNO-BIZ Company 05/23/2008 Designated as a Venture Business again |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
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President & CEO |
Mr. |
Kim Jun-Kyeom |
Male |
Korean |
03/17/2003 |
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Director |
Mr. |
Kim Jae-Hoon |
Male |
Korean |
10/02/2007 |
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Director |
Mr. |
Byun Jae-Yoon |
Male |
Korean |
06/30/2010 |
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Auditor |
M/S. |
Lee Jung-Boon |
Female |
Korean |
03/31/2011 |
Financials
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Year / Unit : KRW |
Sales |
Assets |
Net Income |
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2009 |
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2008 |
32,070,791,133 |
9,208,670,620 |
931,493,207 |
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2007 |
20,539,210,501 |
8,275,514,345 |
488,437,615 |
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2006 |
12,690,000,000 |
6,548,000,000 |
1,081,000,000 |
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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
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Authorized Capital(KRW) |
2,500,000,000 |
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Paid-Up Capital(KRW) |
1,000,000,000 |
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Total Issues Shares |
200,000 |
Balance
Sheet
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Unit : Korean Won |
As of 12/31/2009 |
As of 12/31/2008 |
As of 12/31/2007 |
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Total Assets |
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9,208,670,620 |
8,275,514,345 |
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Current Assets |
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4,251,635,980 |
4,394,411,978 |
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-Quick Assets |
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4,157,215,980 |
4,354,313,928 |
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-Inventories |
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94,420,000 |
40,098,050 |
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Fixed Assets |
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4,957,034,640 |
3,881,102,367 |
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-Investment |
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272,940,000 |
15,000,000 |
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-Tangibles |
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4,031,316,240 |
3,074,606,829 |
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-Intangibles |
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- |
1,926,138 |
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-Others |
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652,778,400 |
789,569,400 |
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Total Liabilities |
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3,949,053,304 |
3,797,390,236 |
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Current Liabilities |
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3,739,438,206 |
3,642,328,195 |
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Fixed Liabilities |
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209,615,098 |
155,062,041 |
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Capital Stock |
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1,000,000,000 |
1,000,000,000 |
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Capital Surplus |
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- |
- |
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Profit Surplus |
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4,259,617,316 |
3,478,124,109 |
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Capital Adjustment |
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- |
- |
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Total Equity |
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5,259,617,316 |
4,478,124,109 |
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Liab. & Shareholder’s Equity |
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9,208,670,620 |
8,275,514,345 |
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Current
Liabilities |
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3,739,438,206 |
3,642,328,195 |
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Trade Payables |
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925,550,172 |
521,461,036 |
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Short-Term Borrowings |
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2,453,663,300 |
2,677,016,000 |
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Account Payables |
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131,110,619 |
258,391,154 |
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Withholdings |
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16,950,248 |
29,492,509 |
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VAT Withhold |
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1,120,000 |
34,217,556 |
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Accrued Income Tax |
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195,819,572 |
121,749,940 |
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Accrued Expenses |
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15,224,295 |
- |
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Fixed
Liabilities |
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209,615,098 |
155,062,041 |
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Leasehold Deposit Received |
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56,000,000 |
- |
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Provision for Severance &
Retirement |
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164,765,831 |
191,647,684 |
Income
Statement
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Unit : Korean Won |
As of 12/31/2009 |
As of 12/31/2008 |
As of 12/31/2007 |
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Sales |
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32,070,791,133 |
20,539,210,501 |
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Cost of Sold Goods |
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29,373,094,713 |
18,192,366,876 |
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Gross Profit |
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2,697,696,420 |
2,346,843,625 |
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Selling & Admin. Expenses |
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1,223,716,254 |
1,465,149,789 |
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Operating Income |
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1,473,980,166 |
881,693,836 |
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Non-Operating Income |
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733,368,757 |
102,512,397 |
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Non-Operating Expenses |
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991,718,454 |
273,729,638 |
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Income Before Taxes |
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1,215,630,469 |
710,476,595 |
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Income Taxes Expenses |
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284,137,262 |
222,038,980 |
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Net Income |
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931,493,207 |
488,437,615 |
Cash
Flows
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Unit : Korean Won |
As of 12/31/2009 |
As of 12/31/2008 |
As of 12/31/2007 |
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Cash Flows from Operating |
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3,521,282,531 |
-732,575,226 |
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-Net Income |
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931,493,207 |
488,437,615 |
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-Exp. without Cash Outflow |
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875,462,579 |
663,467,645 |
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-Revenue without Cash Inflows |
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-11,415,300 |
-18,916,087 |
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-Changes in Asset/ & Liability |
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1,725,742,045 |
-1,865,564,399 |
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Cash Flows from Investing |
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-2,537,444,983 |
-484,628,231 |
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-Cash Inflow from Investing |
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389,711,257 |
303,023,567 |
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-Cash Outflows for Investing |
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-2,927,156,240 |
-787,651,798 |
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Cash Flows from Financing |
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-469,000,000 |
896,451,000 |
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-Cash Inflows from Financing |
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256,000,000 |
1,778,281,000 |
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-Cash Outflows from Financing |
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-725,000,000 |
-881,830,000 |
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Increase/Decrease in Cash |
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514,837,548 |
-320,752,457 |
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Cash at the Beginning of Year |
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359,155,900 |
679,908,357 |
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Cash at the End of Year |
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873,993,448 |
359,155,900 |
Products, Technologies, Services Description
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Main Products & Services |
Cast Iron Powder, Chip Briquette |
Trade Partners & Competitors
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Competitors |
KOMEX, INC. 7TH FL., STARTING BLDG., 720-7, YEOKSAM
2-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-527-3143 FAX:+82-2-508-3173 GEO CORPORATION RM. 711, SAMIL PLAZA BLDG., 837-26, YEOKSAM
1-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-539-6855 FAX:+82-2-539-6854 HOGANAS KOREA LTD. 13TH FL., DAESEONG BLDG., 1602-7, SEOCHO
3-DONG, SEOCHO-GU, SEOUL, KOREA TEL:+82-2-511-4344 FAX:+82-2-548-2592 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
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Affiliates |
SHINWOO BESTEEL CO., LTD.(120111-0453176) (20.0% held by the subject company) YOOWON METAL CO., LTD.(171211-0049625) (10.0% held by the subject company) |
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Cooperative Enterprise |
-Insured Company SAMSUNG FIRE & MARINE INSURANCE CO., LTD.(110111-0005078) |
Sales by Region
(Activity & Markets)
The Subject exports
to Taiwan, Japan and Pakistan.
Court Action
Not Available.
News Clipping
---
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.05 |
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UK Pound |
1 |
Rs.71.92 |
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Euro |
1 |
Rs.64.37 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<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.