MIRA INFORM REPORT
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Report Date : |
10.03.2011 |
IDENTIFICATION DETAILS
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Name : |
SNNC CO., LTD. |
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Registered Office : |
878, Geumho-dong, Gwangyang-si, |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
18.05.2006 |
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Com. Reg. No.: |
416-81-52508 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Manufacturer of Ferro-Alloys |
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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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 |
SNNC CO., LTD. (Korean Company Name
: “(주)에스엔엔씨”) |
|
Registered Address |
878, Geumho-dong, Gwangyang-si, |
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Zip Code |
545-090 |
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Tel |
+82-61-797-9114 |
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Fax |
+82-61-797-9191 |
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E-mail |
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Website |
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Trading Address |
878, Geumho-dong, Gwangyang-si, |
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Tel |
+82-61-797-9114 |
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Fax |
+82-61-797-9191 |
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Type |
Export/Import |
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Industry |
Manufacture of Ferro-Alloys |
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Main Business |
Ferronickel |
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Established (mm/dd/yyyy) |
05/18/2006 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Ferronickel |
CEO’s
|
Name |
Lee Sang-Hong |
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Address |
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Date of Birth |
01/12/1954 |
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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) |
185,000,000,000 |
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Employees |
198 |
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Formation |
Co., Ltd by Shares Foreign Direct Investment Corporation A Company of POSCO Group |
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Bank Details |
Woori Bank |
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Corporate Registered No. |
204611-0023415 |
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Business Registered No. |
416-81-52508 |
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Permit & Licenses |
N/A |
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Shareholder Position |
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Company History |
05/18/2006 Incorporated as the present name 06/28/2006 Registered as a Foreign Direct
Investment Corporation 09/04/2006 Increased the authorized shares to 42,000,000 KRW from
2,400,000 KRW 11/15/2007 Increased capital to 185,000,000,000 KRW from
120,000,000,000 KRW 08/01/2008 Moved to the present HQ address from 700, Geumho-dong,
Gwangyang-si, |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lee Sang-Hong |
Male |
Korean |
05/18/2006 |
|
Director |
Mr. |
Kim Ki-Bong |
Male |
Korean |
03/02/2009 |
|
Director |
Mr. |
Lim Keun-Young |
Male |
Korean |
02/26/2008 |
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Director |
Mr. |
Andrei Danvengha |
Male |
French |
02/26/2008 |
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Director |
Mr. |
Marcel Thomas |
Male |
French |
02/26/2008 |
|
Director |
Mr. |
Dominic Nazzi |
Male |
French |
03/02/2010 |
|
Auditor |
Mr. |
Philip Feriviore |
Male |
French |
09/04/2006 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
368,348,636,617 |
505,055,034,008 |
85,685,888,345 |
|
|
2008 |
34,358,401,715 |
409,132,368,994 |
(-)47,958,883,951 |
|
2007 |
- |
193,366,805,371 |
(-)1,850,125,102 |
|
2006 |
- |
38,583,523,183 |
(-)513,355,456 |
Financial Description
|
Authorized Capital(KRW) |
210,000,000,000 |
|
Paid-Up Capital(KRW) |
185,000,000,000 |
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Total Issues Shares |
37,000,000 |
Balance Sheet
|
United States : Korean Won |
As of 12/31/2009 |
As of 12/31/2008 |
As of 12/31/2007 |
|
Total Assets |
505,055,034,008 |
409,132,368,994 |
193,366,805,371 |
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Current Assets |
178,861,464,601 |
49,210,120,405 |
50,347,598,125 |
|
-Quick Assets |
127,062,154,416 |
12,151,158,351 |
50,347,598,125 |
|
-Inventories |
51,799,310,185 |
37,058,962,054 |
- |
|
Fixed Assets |
326,193,569,407 |
359,922,248,589 |
143,019,207,246 |
|
-Investment |
4,000,000 |
4,000,000 |
2,000,000 |
|
-Tangibles |
323,084,142,221 |
357,875,835,968 |
142,971,023,616 |
|
-Intangibles |
1,466,410,082 |
2,040,902,621 |
43,093,630 |
|
-Others |
1,639,017,104 |
1,510,000 |
3,090,000 |
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Total Liabilities |
285,119,574,172 |
274,882,797,503 |
11,158,349,929 |
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Current Liabilities |
43,600,654,646 |
39,071,309,575 |
11,018,044,584 |
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Fixed Liabilities |
241,518,919,526 |
235,811,487,928 |
140,305,345 |
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Capital Stock |
185,000,000,000 |
185,000,000,000 |
185,000,000,000 |
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Capital Surplus |
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|
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Profit Surplus |
35,363,523,836 |
-50,322,364,509 |
-2,363,480,558 |
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Capital Adjustment |
-428,064,000 |
-428,064,000 |
-428,064,000 |
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Total Equity |
219,935,459,836 |
134,249,571,491 |
182,208,455,442 |
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Liab. &
Shareholder’s Equity |
505,055,034,008 |
409,132,368,994 |
193,366,805,371 |
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Current Liabilities |
43,600,654,646 |
39,071,309,575 |
11,018,044,584 |
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Trade Payables |
31,519,096,977 |
2,836,214,625 |
- |
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Account Payables |
5,521,667,888 |
5,785,973,026 |
10,575,957,158 |
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Withholdings |
62,384,980 |
120,016,823 |
55,639,980 |
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Accrued Expenses |
4,691,272,322 |
29,535,244,548 |
239,185,446 |
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Provisions for Commission |
1,105,562,842 |
793,860,553 |
147,262,000 |
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Accrued Income Tax |
700,669,637 |
- |
- |
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Fixed Liabilities |
241,518,919,526 |
235,811,487,928 |
140,305,345 |
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Long-Term Borrowings |
240,000,000,000 |
235,000,000,000 |
- |
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Provision for Severance & Retirement |
1,518,919,526 |
811,487,928 |
140,305,345 |
Income Statement
|
Unit : Korean Won |
As of 12/31/2009 |
As of 12/31/2008 |
As of 12/31/2007 |
|
Sales |
368,348,636,617 |
34,358,401,715 |
- |
|
Cost of Sold Goods |
266,030,212,378 |
62,930,733,497 |
- |
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Gross Profit |
102,318,424,239 |
-28,572,331,782 |
- |
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Selling & Admin. Expenses |
9,586,925,466 |
12,197,848,123 |
2,861,908,418 |
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Operating Income |
92,731,498,773 |
-40,770,179,905 |
-2,861,908,418 |
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Non-Operating Income |
9,416,584,672 |
2,821,724,287 |
1,088,314,650 |
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Non-Operating Expenses |
16,462,195,100 |
10,010,428,333 |
76,531,334 |
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Ordinary Income |
85,685,888,345 |
-47,958,883,951 |
-1,850,125,102 |
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Special Income |
- |
- |
- |
|
Income Before Taxes |
85,685,888,345 |
-47,958,883,951 |
-1,850,125,102 |
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Income Taxes Expenses |
- |
- |
- |
|
Net Income |
85,685,888,345 |
-47,958,883,951 |
-1,850,125,102 |
Cash Flows
|
Unit : Korean Won |
As of 12/31/2009 |
As of 12/31/2008 |
As of 12/31/2007 |
|
Cash Flows from Operating |
90,555,183,713 |
-48,752,499,751 |
8,625,490,052 |
|
-Net Income |
85,685,888,345 |
-47,958,883,951 |
-1,850,125,102 |
|
-Exp. without Cash Outflow |
41,334,662,003 |
22,203,296,087 |
377,305,391 |
|
-Revenue without Cash Inflows |
-8,203,698,924 |
-1,126,133,492 |
- |
|
-Changes in Asset/ & Liability |
-28,261,667,711 |
-21,870,778,395 |
10,098,309,763 |
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Cash Flows from Investing |
-85,808,076,427 |
-229,760,822,371 |
-108,658,157,676 |
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-Cash Inflow from Investing |
119,989,439,950 |
2,601,212,334 |
- |
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-Cash Outflows for Investing |
-205,797,516,377 |
-232,362,034,705 |
-108,658,157,676 |
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Cash Flows from Financing |
5,000,000,000 |
235,000,000,000 |
145,656,608,000 |
|
-Cash Inflows from Financing |
5,000,000,000 |
235,000,000,000 |
145,656,608,000 |
|
-Cash Outflows from Financing |
- |
- |
- |
|
Increase/Decrease in Cash |
9,747,107,286 |
-43,513,322,122 |
45,623,940,376 |
|
Cash at the Beginning of Year |
5,399,489,781 |
48,912,811,903 |
3,288,871,527 |
|
Cash at the End of Year |
15,146,597,067 |
5,399,489,781 |
48,912,811,903 |
Products, Technologies, Services Description
|
Main Products & Services |
Ferronickel |
Trade Partners & Competitors
|
Suppliers |
NMC(NICKEL MINING COMPANY SAS : COAL & ALLIED OPERATIONS PTY LTD.( |
|
Customers |
POSCO(174611-0000741) |
|
Competitors |
RISTEC-BIZ CO., LTD. SAN 32, TEL:+82-54-279-6436 FAX:+82-54-279-6440 MECHEM KOREA CO., LTD. 9TH FL., ILJIN BLDG., 50-1, DOHWA-DONG,
MAPO-GU, TEL:+82-2-323-5193 FAX:+82-2-323-5195 KTC KOREA CO., LTD. 567-49, YEONNAM-DONG, MAPO-GU, TEL:+82-2-3144-5052 FAX:+82-2-3141-5846 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
POSCO(174611-0000741) POSCO COATED
& COLOR STEEL CO., LTD.(174611-0006492) POSCO ENGINEERING & CONSTRUCTION CO., LTD.(174611-0002979) POSDATA CO.,
LTD.(110111-0658637) POSCO
REFRACTORIES & ENVIRONMENT CO., LTD.(174611-0001947) SAMJUNG
PACKING AND ALUMINUM CO., LTD.(174611-0000866) POS-A.C.
CO., LTD.(174611-0003448) POSCO
ENGINEERING & CONSTRUCTION CO., LTD.(174611-0002979) POSCO
RESEARCH INSTITUTE(110111-1042350) POSCON(174611-0002242) POSTEEL(110111-0344591) POSCO
SPECIALTY STEEL CO., LTD. (194211-0025248) POSCO
MACHINERY CO., LTD.(206411-0010175) POSMEC(POSCO
MACHINERY & ENGINEERING CO., LTD.)(174611-0012176) POSCO
TERMINAL CO., LTD.(204611-0017575) POSTECH
VENTURE CAPITAL COOPERATION (174611-0029080) POSMATE CO.,
LTD.(110111-0739841) POSCO POWER
CORPORATION(110111-1829576) PHP CO.,
LTD.(120111-0421545) POSBRO(110111-3528986) POSCORE CO.,
LTD.(134811-0003343) RIZTECH BIZ
CO., LTD. POSWITH CO.,
LTD.(171711-0075927) P&R CO.,
LTD. BASYS
INDUSTRY CO. LTD.(110111-0954647) SUWON GREEN
ENVIRONMENT CORPORATION(134811-0133794) UI TRANS
CO., LTD.(110111-3792309) DAKOS(131110-0246297) MAPO HIBROAD
PARKING CO., LTD.(110111-4250140) PURE GIMPO
CO., LTD.(110111-4290394) PLANT EST
CO., LTD.(171711-0087592) UNIVERSAL
STUDIOS RESORT DEVELOPMENT CORPORATION(134811-0167222) METAPOLIS
CO., LTD.(134811-0094475) SEOUNG GWANG
CO., LTD.(120111-0222844) CHEONGNA IBT
CO., LTD.(120111-0454520) POHANG FEUL
CELL CO., LTD.(171711-0076256) MEGA ASSET
CO., LTD.(161511-0097480) DAEWOO
ENGINEERING COMPANY CO., LTD.(110111-0203268) |
|
Corporate Ownership |
SOCIETE MINIERE DU SUD PACIFIQUE( |
|
Major Shareholders |
SOCIETE MINIERE DU SUD PACIFIQUE( POSCO(174611-0000741) |
|
Cooperative |
-Insured Company DONGBU INSURANCE CO.,LTD.(10111-0095285) SAMSUNG FIRE & MARINE INSURANCE CO., LTD(110111-0005078) |
Sales by Region
(Activity & Markets)
The Subject deals
with the companies in
Court Action
No.
News Clipping
----
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.02 |
|
|
1 |
Rs.72.70 |
|
Euro |
1 |
Rs.62.54 |
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.