MIRA INFORM REPORT

 

 

Report Date :

15.03.2011

 

IDENTIFICATION DETAILS

 

Name :

GS CALTEX CORPORATION

 

 

Registered Office :

GS Gangnam Tower 679, Yeoksam 1-dong, Gangnam-gu, Seoul, Korea 135-985

 

 

Country :

South Korea

 

 

Financials (as on) :

30.09.2010

 

 

Date of Incorporation :

19.05.1967

 

 

Com. Reg. No.:

116-81-19123

 

 

Legal Form :

Company Limited by shares – (Foreign Direct Investment Corporation)

 

 

Line of Business :

Petroleum Refineries

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

No Complaints

Litigation :

Exists

 

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)

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

GS CALTEX CORPORATION

(Korean Company Name : “GS칼텍스(주)”)

Registered Address

679, Yeoksam 1-dong, Gangnam-gu, Seoul, Korea

Building

GS Gangnam Tower

Zip Code

135-985

Tel

+82-2-2005-1114

Fax

+82-2-2005-6051

E-mail

kimsj@gscaltex.co.kr

Website

www.gscaltex.co.kr

Trading Address

GS Gangnam Tower, 679, Yeoksam 1-dong, Gangnam-gu, Seoul, Korea

Tel

+82-2-2005-1114

Fax

+82-2-2005-6051

Other Address-Refinery and Petrochemical Complex /Yeosu Factory

1056 Wollae-dong, Yeosu-si, Jeonnam-do 550-600 Korea

Tel

+82-61-680-2114

Fax

+82-61-686-3333

Other Address-Factory

382-2 Wonchang-dong, Seo-gu, Incheon 404-210 Korea

Tel

+82-32-577-9212 ~ 3

Fax

+82-32-577-9215

Other Address-Value Creation Center

104-4 Munji-dong, Yuseong-gu, Daejeon 305-380 Korea

Tel

+82-42-866-1616

Fax

+82-42-863-6104

Other Address-Customer Service Center

20th Fl.Kukje Electronics Center, 1445-3, Seocho-dong, Seocho-gu, Seoul 137-728 Korea

Tel

+82-2-1588-5172

Fax

+82-2-3465-5088

Other Address-Gwangju Oil Reservoir

502 Hanam-dong, Gwangsan-gu, Gwangju 506-250 Korea

Tel

+82-62-952-5863

Other Address-Gunsan Oil Reservoir

11-13 Soryong-dong, Gunsan-si, Jeonbuk-do 573-879

Tel

+82-63-467-3600

Other Address-Daegu Oil Reservoir

450 Namha-ri, Hayang-eup, Gyeongsan-si, Gyeongbuk-do 712-906 Korea

Tel

+82-53-353-2271

Other Address-Daejeon Oil Reservoir

547-28 Gasuwon-dong, Seo-gu, Daejeon 302-801 Korea

Tel

+82-42-542-0316

Other Address-Donghae Oil Reservoir

227 Guho-dong, Donghae-si, Gangwon-do 240-230 Korea

Tel

+82-33-521-0112

Other Address-Masan Oil Reservoir

64-15 Sinchon-dong, Changwon-si, Gyeongnam-do 641-370 Korea

Tel

+82-55-264-4624

Other Address-Mokpo Oil Reservoir

330-1 Nabul-ri, Samho-myeon, Yeongam-gun, Jeonnam-do 526-891 Korea

Tel

+82-61-464-5541

Other Address-Busan Oil Reservoir

254-13 Gamman 1-dong, Nam-gu, Busan 608-803 Korea

Tel

+82-51-640-8484

Other Address-Incheon Oil Reservoir

97-4 Bukseong-dong 1-ga, Jung-gu, Incheon 400-201 Korea

Tel

+82-32-770-2701

Other Address-Jeonju Oil Reservoir

173-2 Bugyo-ri, Yongji-myeon, Gimje-si, Jeonbuk-do 576-973 Korea

Tel

+82-63-546-8351

Type

Export/Import

Industry

Petroleum Refineries

  Main Business

Petroleum, Lubricants, Aromatics, Polypropylene, Liquefied Petroleum Gas, Naphtha, Gasoline, Kerosene, Diesel Fuel, Polypropylene, Card Services, Oil Station Operation Services

  Sub Business

Wholesale of Liquid Fuel and Related Products

Established (mm/dd/yyyy)

05/19/1967

The Subject owns the premises of Yeosu Factory(3,825,714m2).

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Hydraulic oil(15121504)

Sell

Engine oil(15121501)

Sell

Gear oil(15121503)

Sell

Grease(15121902)

Sell

Lubricating preparations(15121500)

Sell

Kerosene(15101502)

Sell

Aviation fuel(15101504)

Sell

Liquified petroleum gas(15111510)

Sell

Benzene(15101507)

Sell

Aromatic or heterocyclic compounds(12352005)

Sell

Hydrocarbonated solvents(12191500)

Sell

Polypropylene PP(13102022)

Sell

Asphalt(30121601)

Sell

Fuel oil(15101700)

Sell

Resins(13111000)

Sell

Diesel fuel(15101505)

 

 

CEO’s

 

Name

Hur Dong-Soo

Address

717-9, Yeoksam-dong, Gangnam-gu, Seoul, Korea

Date of Birth

07/13/1943

Title

Chairman & CEO

Sex

Male

Nationality

Korean

Profiles

 

Capital (KRW)

260,000,000,000

Employees

3,090

Formation

Co., Ltd by shares

Foreign Direct Investment Corporation

A company of GS Group

Bank Details

Korea Development Bank

Hana Bank

S.C. First Bank of Korea

Corporate Registered No.

110111-0078819

Business Registered No.

116-81-19123

Permit & Licenses

12/2003 autoOasis, ISO 9001:2000 from BSI (UK)

11/2001 QS-9000 from DNV (Det Norske Veritas)

03/1998 ISO14001

 

Int’l Trade No.: 680200

Shareholder Position

Name

Shares

%

GS HOLDINGS CORP.(110111-3045112)

13,000,000

50.0

CHEVRON (OVERSEAS) HOLDINGS LTD.

10,400,000

40.0

CHEVRON GLOBAL ENERGY INC.

2,600,000

10.0

TOTAL

26,000,000

100.0

Company History

05/19/1967 Incorporated as Honam Oil Refinery Co., Ltd.

10/31/1968 Registered as a Foreign Direct Investment Corporation

11/30/1991 Awarded US$ 500 Million Export Top Prize

05/20/1996 Changed company name to LG Caltex Oil Refinery Co., Ltd.

10/04/1999 Moved to the present HQ address from 20, Yeouido-dong, Yeongdeungpo-gu, Seoul, Korea

03/31/2005 Changed company name to the present name

 

 

 

 

Management

 

Job Description

Title

Name

Nationality

Date of Birth

Education/Career

Chairman & CEO

Mr.

Hur Dong-Soo

Korean

1943.07.13

Ph.D., of Wisconsin University

President & CEO

Mr.

Hur Jin-Soo

Korean

1953.09.12

George Washington University

President & CEO

Mr.

Na Wan-Bae

Korean

1950.12.04

Korea University

 

Mr.

Jeon Sang-Ho

Korean

1952.09.05

Yonsei University, Korea

Director

Mr.

Seo Kyung-Seok

Korean

1947.12.23

Seoul National University

Director

Mr.

Jeon Sang-Ho

Korean

1952.09.05

-

Director

Mr.

Curtis R. Anderson

USA

1955.12.29.

Present, Vice President, Chevron Manufacturing, Ex. General Manager, Chevron's Richmond Refinery

Director

Mr.

B. T. Fish

USA

1963.10.21

Vice President of Chevron Global Manufacturing

Director

Mr.

P.V. Bennett

USA

1953. 01.

Chevron Corporation General Manager, Corporate Comptroller's

Director

Mr.

D.J. Blough

USA

1957.08.17

Chevron Global GasVice President

Director

Mr.

R. D. Edwards

USA

1955.07.07

Country Chairman of Chevron Korea

Director

Mr.

P. R. Breber

USA

1964.08.12

Vice President of Chevron Global Downstream

Director

Mr.

P. J. Blough

USA

1957.08.17

Vice President of Chevron Global Gas

Auditor

Mr.

Lim Byung-Yong

Korean

1962.08.29

Seoul National University

Auditor

Mr.

Paul H. Burmeister

South Africa

1959.06.04

Senior Planning & Financial Analyst

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

09/2010

23,949,235,000,000

20,540,287,000,000

420,266,000,000

2009

26,089,000,000,000

20,138,234,000,000

652,802,000,000

2008

34,424,216,000,000

18,390,031,000,000

(-)290,335,000,000

2007

21,468,331,000,000

15,230,425,000,000

632,020,000,000

2006

19,130,049,000,000

11,153,465,000,000

620,878,000,000

2005

16,233,864,000,000

9,397,161,000,000

728,600,000,000

2004

14,063,203,000,000

7,886,192,000,000

846,298,000,000

 

 

Financial Description

 

Authorized Capital(KRW)

270,000,000,000

Paid-Up Capital(KRW)

260,000,000,000

Total Issues Shares

26,000,000

 

Balance Sheet

 

Unit : Million Korean Won

03/31/2010~09/30/2010

As of 12/31/2009

As of 12/31/2008

Total Assets

20,540,287

20,138,234

18,390,031

Current Assets

9,116,142

8,903,160

8,730,141

-Quick Assets

　

5,422,369

6,866,995

-Inventories

　

3,480,791

1,863,146

Fixed Assets

11,424,145

11,235,074

9,659,890

-Investment

　

1,512,637

1,360,743

-Tangibles

　

9,468,735

8,037,021

-Intangibles

　

62,587

55,502

-Others

　

191,115

206,624

Total Liabilities

13,403,601

12,830,746

11,788,924

Current Liabilities

8,367,072

7,116,614

7,436,090

Fixed Liabilities

5,036,529

5,714,132

4,352,834

Capital Stock

260,000

260,000

260,000

Capital Surplus

66,261

1,597,845

1,597,845

Profit Surplus

6,851,682

4,482,484

3,829,544

Capital Adjustment

-41,257

967,159

913,718

Total Equity

7,136,686

7,307,488

6,601,107

Liab. & Shareholder’s Equity

20,540,287

20,138,234

18,390,031

 

Current Liabilities

 

7,116,614

7,436,090

Trade Payables

 

2,341,197

1,117,887

Short-Term Borrowings

 

23,352

1,524,220

Usance Borrowings

 

1,850,094

2,156,302

Current Portion of Long-Term Debts

 

40,470

-

Account Payables

 

2,682,242

2,291,079

Advance Receipts

 

49,904

52,843

Guarantee Deposit Withhold

 

80

80

Accrued Expenses

 

75,352

61,965

Derivatives

 

53,923

231,714

Fixed Liabilities

 

5,714,132

4,352,834

Debentures

 

4,394,446

3,221,887

Long-Term Borrowings

 

337,186

303,188

Foreign Currency Long-Term Borrowings

 

555,209

415,733

Long-Term Advance Receipts

 

-

595

Long-Term Guarantee Deposit Withhold

 

2,777

-

Long-Term Guarantee Deposit Withhold

 

28,968

37,292

Provision for Severance & Retirement

 

190,542

204,674

National Subsidy

 

3,175

2,954

Deferred Income Tax Credit

 

387,892

339,795

 

Income Statement

 

Unit : Million Korean Won

03/31/2010~09/30/2010

As of 12/31/2009

As of 12/31/2008

Sales

23,949,235

26,089,000

34,424,216

Cost of Sold Goods

(-)22,790,081

24,572,479

32,983,448

Gross Profit

　

1,516,521

1,440,768

Selling & Admin. Expenses

(-)566,043

822,462

756,936

Operating Income

593,081

694,059

683,832

Non-Operating Income

　

2,731,453

5,137,565

Non-Operating Expenses

　

2,868,261

6,297,876

Ordinary Income

523,309

557,251

(-)476,479

Special Income

　

-

-

Income Before Taxes

523,309

557,251

(-)476,479

Income Taxes Expenses

(-)103,043

(-)95,551

(-)186,144

Net Income

420,266

652,802

(-)290,335

 

 

Cash Flows

 

Unit : Million Korean Won

03/31/2010~09/30/2010

As of 12/31/2009

As of 12/31/2008

Cash Flows from Operating

(-)856,838

540,176

12,560

-Net Income

420,266

652,802

(-)290,335

-Exp. without Cash Outflow

800,718

840,877

1,466,418

-Revenue without Cash Inflows

(-)358,654

(-)481,084

(-)1,319,056

-Changes in Asset/ & Liability

(-)1,719,168

(-)472,419

155,533

Cash Flows from Investing

(-)568,267

(-)2,022,941

(-)1,340,219

-Cash Inflow from Investing

191,279

117,691

145,996

-Cash Outflows for Investing

(-)759,546

(-)2,140,632

(-)1,486,215

Cash Flows from Financing

1,271,653

(-)173,206

1,613,640

-Cash Inflows from Financing

2,058,605

1,601,749

2,440,839

-Cash Outflows from Financing

(-)786,952

(-)1,774,955

(-)827,199

Increase/Decrease in Cash

(-)153,452

(-)1,655,971

285,981

Cash at the Beginning of Year

908,353

2,562,197

2,276,216

Cash at the End of Year

754,901

906,226

2,562,197

 

 

Products, Technologies, Services Description

 

Main Products & Services

Petroleum Business

The Subject Company has crude oil refining facilities with a capacity of 650,000 barrels a day, and provides a stable supply of oil products to the nation. With Residue Fluid Catalytic Cracking Units designed to crack 90,000 barrels of bunker C oil a day to produce high-valued products such as gasoline, kerosene, and diesel, as well as advanced facilities such as those designed to desulfurize 190,000 barrels of kerosene and diesel a day, GS Caltex proactively responds to the rapidly changing market environment.

Additionally, The Subject Company operate about 3,000 gas stations and about 300 gas filling stations nationwide. In 1996 The Subject Company opened Korea's first gas station-convenience store combined chain, JoyMart. Also, since 1994, The Subject Company has been operating the light maintenance franchise chain, AutoOasis.

 

Petrochemicals Business

The Subject Company vigorously advanced into the petrochemical industry, as the company established plants within its Yeosu Plant Complex to produce polypropylene in 1988, and paraxylene and aromatics in 1990, respectively.

 

The Subject Company began its aromatics business with the construction of a plant to produce 200,000 tons of paraxylene and 300,000 tons of aromatics a year in April 1990. Investments in the business have continued in order to keep up with rapidly changing market situations.

In April 2003, the Company completed the construction of its third paraxylene unit with a production capacity of 350,000 tons by employing MTPX technology, an advanced technology developed by Exxon-Mobil. The Company's total aromatics production capacity is 2,200,000 tons including 1,200,000 tons of paraxylene, 770,000 tons of benzene annually. This is the world's largest aromatics plant as single site.

 

Also, polypropylene business, the other part of petrochemical group, was launched in 1988, with the introduction of the Dow Chemical Company's Unipol process of fluidized bed-based vapor-phase polymerization, which allowed the production and supply of the finest-quality polypropylene. The Subject Company is now capable of producing 180,000 tons of polypropylene a year. Since 2001, The Subject Company has been producing the entire volume of propylene, the raw material for polypropylene, from the Residue Fluid Catalytic Cracking (RFCC) Unit process.

Main Products & Services

LNG and City Gas Business

The Subject Company is moving to become a total energy service provider by adding an environmentally friendly LNG and city gas business to its traditional petroleum and electric power businesses. To this end, The Subject Company is preparing to construct an LNG Terminal and to conclude LNG import agreements to push ahead with the business of directly importing LNG, as approved by the Ministry of Commerce, Industry and Energy. Through these efforts, after 2008, The Subject Company will supply LNG for own-use in oil refining utilities in Yeosu Complex, and in generating electric power in GS Power and GS EPS.

Also, The Subject Company has taken over Haeyang City Gas Co., Ltd. and Seorabeol City Gas Co., Ltd. to secure a base for the LNG business, and have formed strategic alliances with Kyungnam Energy Co., Ltd. and Kangnam City Gas Co., Ltd., thus securing a stable demand. Alongside this, we are striving to maximize synergies of the LNG business through the established GS EPS Co., Ltd. and GS Power Co., Ltd. which use LNG as fuel.

 

Electric Power Business

The Subject Company is conducting business in the electric power sector as well as taking steps towards its goal of becoming a total energy service provider through diversification of its core energy business. In line with the government's strategy to introduce and expand private power generation, GS EPS was established as the first private power generation company in October 1996, with the operation of a 500,000 kw LNG combined-cycle power plant.

Additionally, GS Power Co., Ltd., was established in September 2000, and took over and continued operation of a 950,000 kw combined heat and power plant and district heating facilities in the Anyang and Bucheon areas from KEPCO.

Currently, The Subject Company uses clean energy technology, LNG, to efficiently operate a combined-cycle power plant with a total capacity of 1.45 million kw and district heating supply facilities, which play a central role in supplying electric power to the national capital region.

The Subject Company also operates stable and efficient district heating facilities to supply an economic heating service to new towns in Anyang, Pyeongchon and Bucheon.

Main Products & Services

Exploration and Production

The Subject Company first entered into the exploration and production business in 2003 by acquiring a 15% participating interest in the exploration and development project of Cambodia Block A Area, located on the west coast of Cambodia.

The Subject Company and its partners, Chevron and Mitsui, discovered oil in five exploration wells during the drilling campaign from October 2004 to February 2005. Oil pay logged in the wells ranges from 41 feet to 139 feet and the analysis of samples indicates the oil is a medium gravity, 44 degree API crude.

 

New and Renewable Energy

The Subject Company has been striving to New and Renewable Energy, including fuel cell technologies, since 1989. Its Value Creation Center is developing fuel cell technologies in conjunction with its subsidiary fuel cell specialist GS FuelCell co., Ltd, established in November 2000.

After three years of research and development efforts, in April 2004 GS FuelCell developed a high efficiency and compact polymer electrolyte membrane fuel cell(PEMFC) for home(residential power generator) with a capacity of 1kW and using city gas as fuel.

Production Capacity

Refined Oil Products: 223,469 Thousand Barrel

Aromatic Products: 1,810 Thousand Ton

PP Products: 169 Thousand Ton

 

 

Trade Partners & Competitors

 

Suppliers

CHEVRON GLOBAL ENERGY INC.

CHEVRON U.S.A. INC.

GS CALTEX SINGAPORE PTE, LTD.

 

KOC CO., LTD.

1/F WONDUCK BLDG., 681-9, JAKJEON-DONG, GYEYANG-GU, INCHEON 407-060 KOREA

TEL 82-32-505-2588  FAX 82-32-505-2586

INDUSTRY: MANUFACTURE OF FILTERING OR PURIFYING MACHINERY FOR LIQUIDS OR OILS

 

HYUNDAI OILBANK CO., LTD.

640-6, DAEJUK-RI, DAESAN-EUP, SEOSAN-SI, CHUNGNAM-DO 356-874 KOREA

TEL:+82-2-2004-3000  FAX:+82-2-2004-3020

INDUSTRY: PETROLEUM REFINERIES

 

E1 CO., LTD.

13FL., ASEM TOWER, 159-1, SAMSEONG 1-DONG, KANGNAM-GU, SEOUL 135-798 KOREA

TEL:+82-2-3441-4114  FAX:+82-2-3441-4119

INDUSTRY: WHOLESALE OF GASEOUS FUEL AND RELATED PRODUCTS

 

KOREA TELECOM POWERTEL CO., LTD.

19 FL. KT INFORMATION CENTER, 924, MOK-DONG, YANGCHEON-GU, SEOUL 158-050 KOREA

TEL:+82-2-2166-0130  FAX:+82-2-2062-2471

INDUSTRY: MOBILE TELEPHONE SERVICES

 

SEYANG SHIPPING CO., LTD.

13TH FL., JANGGYO BLDG., 1, JANGGYO-DONG, JUNG-GU, SEOUL 100-220 KOREA

TEL:+82-2-3706-6900  FAX:+82-2-3706-6997

INDUSTRY: OCEANGOING FOREIGN FREIGHT TRANSPORT

 

KAEL CO., LTD.

1690-2, SINIL-DONG, DAEDEOK-GU, DAEJEON 306-230 KOREA

TEL:+82-42-931-6287 FAX:+82-42-931-9190

INDUSTRY: MANUFACTURE OF FILTERING OR PURIFYING MACHINERY FOR AIR OR GASES

 

HANWHA L&C CORP.

14TH FL., HANWHA BLDG., 1, JANGGYO-DONG, JUNG-GU, SEOUL 100-797 KOREA

TEL:+82-2-729-1114  FAX:+82-2-729-1461

INDUSTRY: MANUFACTURE OF WALL AND FLOOR COVERINGS OF PLASTICS

Customers

GS POWER (134111-0074744)

HAEYANG CITY GAS. CO., LTD (200111-0004906)

SAMYANG INTERNATIONAL CO., LTD.

 

SYNGENTA KOREA LTD.

642, SEOGAM-DONG, IKSAN-SI, JEONBUK-DO 570-330 KOREA

TEL:+82-63-830-5800  FAX:+82-63-832-3677

INDUSTRY: MANUFACTURE OF AGRICULTURAL CHEMICAL PRODUCTS

 

PLUMB FAST CO., LTD.

318, JUNG-DONG, DONG-GU, DAEJEON 300-160 KOREA

TEL:+82-41-865-9681  FAX:+82-41-865-9188

INDUSTRY: MANUFACTURE OF PLASTIC BARS, PIPES, TUBES AND HOSES

 

HANWHA L&C CORP.

14TH FL., HANWHA BLDG., 1, JANGGYO-DONG, JUNG-GU, SEOUL 100-797 KOREA

TEL:+82-2-729-1114  FAX:+82-2-729-1461

INDUSTRY: MANUFACTURE OF WALL AND FLOOR COVERINGS OF PLASTICS

Competitors

S-OIL CORPORATION

45TH FL., KOREA LIFE INSURANCE 63 BLDG., 60, YEOEUIDO-DONG, YEONGDEUNGPO-GU, SEOUL, KOREA

TEL:+82-2-3772-5151  FAX:+82-2-786-4030

 

SK ENERGY CO., LTD.

SK BLDG., 99, SEORIN-DONG, JONGNO-GU, SEOUL, KOREA

TEL:+82-2-2121-5114  FAX:+82-2-2121-7001

 

HYUNDAI OILBANK CO., LTD.

640-6. DAEJUK-RI, DAESAN-EUP, SEOSAN-SI, CHUNGCHEONGNAM-DO, KOREA

TEL:+82-41-660-5114  FAX:+82-41-660-5111

 

Affiliates-Domestic

RELATED PARTIES

(Subsidiaries, Joint-Venture & Affiliates)

 

GS POWER (134111-0074744)

HAEYANG CITY GAS. CO., LTD (200111-0004906)

SEORABEOL CITY GAS CO.,LTD (171211-0024180)

GS FUELCELL CO.LTD. (160111-0108202)

GS RETAIL (110111-0090037)

GS WATSONS CO., LTD.(110111-3136474)

KOREA CABLE TV ULSAN STATION (181211-0045481)

GS TELESERVICE (110111-2618192)

GS SPORTS.LTD (110111-3024330)

HAMOO DEVELOMET CO., LTD (110111-0411142)

XI SERVICE (110111-3141720)

SAMYANG INT'L CO., LTD. (110111-0424848)

BOHEUN DEVELOPMENT CO., LTD. (110111-1557573)

OKSAN DISTRIBUTION (110111-1426108)

SM CO., LTD (110111-1308124)

GS NEOTEK (110111-0166953)

EZVILLE, INC. (110111-1934557)

CENTRAL MOTORS CORP. (131111-0101912)

SUNGSAN GROUP CORPORATION (110111-0110653)

SUNGSAN LEISURE INC (141111-0022893)

WINASSET CO., LTD.(110111-0720832)

COSMO FINE CHEMICALS CO.,LTD.(110111-0531205)

COSMO INDUSTRIAL CO.LTD (150111-0077722)

SMARTRO CO.,LTD (110111-1536189)

COSMO & COMPANY CO., LTD. (110111-0298243)

COSMO CORPORATION CO., LTD.(110111-2559354)

LANDMARK ASIA, INC. (110111-2219411)

COSMO LEPORTS CO., LTD.(110111-1883473)

COSMOS NF CO., LTD.(110111-2431809)

MARUMAN KOREA (131111-0093953)

ESTECH ESTIMATE CORP.(110111-3253583)

NEXTATION.CO.,LTD. (110111-2123571)

UIJEONGBU LIGHT RAIL TRANSIT CO., LTD (280111-0071743)

STSLOGISTICS INC. (110111-1999197)

GS EPS CO., LTD.(165011-0004621)

KANGNAM CABLE SYSTEM INC. (110111-1009780)

ITMEXSYI (110111-3451731)

GLS SERVICE CORP. (110111-3532846)

AMCO LTD.(110111-3593252)

FRESH SERVE CO., LTD(110111-3646738)

GCS PLUS CO., LTD.(140111-0033487)

NURICELL CO., LTD.(110111-2089062)

SEOUL MUNSAN EXPRESSWAY CO., LTD.(110111-3809344)

ULSAN GREEN CO., LTD.(110111-3812636)

BSM CO., LTD.(135511-0187118)

CORONA(131411-0167645)

DAUM ONKET(110111-3127209)

GS NETVISION CO., LTD.(110111-3862897)

GS PARK 24 CO., LTD.(110111-3413880)

DONGBO INT.CO., LTD.(110111-2619752)

GS ASSET MANAGEMENT CO., LTD.(110111-3934670)

Affiliates-Overseas

GS CALTEX SINGAPORE PTE.  SINGAPORE

LADERA CO. LTD.         USA

GS E&C ITALY S.R.L     ITALY

GS E&C (NANJING) CO. LTD.    CHINA

GS E&C POLAND SP.ZO.O       POLAND

CHONGQING GS SHOPPING INC.         CHINA

SAMHO CO. LTD.          VIETNAM

SAMMA CORP. PHILLIPPINES

SAMYANG LEATHER    CHINA

FARWEST STEEL CO.  USA

COSMO PLASTIC PIPE CHINA

GS AROMATICS PTE.   SINGAPORE

LIDONG CHEMICAL CO. LTD.    CHINA

GS-HP SUNFLOWER INTERNATIONAL VILLAGE CORP.            VIETNAM

LANDMARK GLOBAL INC.         USA

WESTERN COATING INC.         USA

QINGDAO LIXING LOGISTICS CO., LTD. CHINA

GS E&C THAI CO. LTD  THAILAND

BEIJING SC MOTOR PARTS      CHINA

FRONTIER NEMTWO    MALAYSIA

FRONTIER WOKAM      MALAYSIA

GS CALTEX      CHINA

GS E&C MEXICO, S.A.DEC.V.   MEXICO

GS E&C INDIA PRIVATE LTD.    INDIA

GS CALTEX      CHINA

Joint Venture

CAMBODIA BLOCK A

(15.0% held by the subject company)

 

WEST KAMCHATKA SHELF AREA

(4.0% held by the subject company)

 

THAILAND SHELF AREA

(30% held by the subject company)

Subsidiary

AMCO

(100% held by the subject company)

 

NEXTATION CO.,LTD. (110111-2123571)

(99.27% held by the subject company)

 

GS CALTEX QUINGDAO CO., LTD.(CHINA)

(100% held by the subject company)

 

GS CALTEX SINGAPORE PTE., LTD.

(100.0% held by the subject company)

 

SEORABEOL CITY GAS CO.,LTD (171211-0024180)

(100.0% held by the subject company)

 

GS POWER CO., LTD.(134111-0074744)

(100.0% held by the subject company)

 

HAEYANG CITY GAS. CO., LTD (200111-0004906)

(100.0% held by the subject company)

 

BNC CORPORATION(154311-0009826)

(100.0% held by the subject company)

 

GS PARK 24 CO., LTD.(110111-3413880)

(50.0% held by the subject company)

Corporate Ownership

GS HOLDINGS CORP.(110111-3045112)

CHEVRON (OVERSEAS) HOLDINGS LTD.

CHEVRON GLOBAL ENERGY INC.

Major Shareholders

GS HOLDINGS CORP.(110111-3045112)

CHEVRON (OVERSEAS) HOLDINGS LTD.

CHEVRON GLOBAL ENERGY INC.

Cooperative Enterprise

-Insured Company

LIG INSURANCE CO., LTD.(110111-0017859)

 

-Agreement for Procedure License with

AXENS

CD TECH

TEXACO/HTAS

STRATCO U.S.A.

MONSANTO

CHEVRON LUMMUS GLOBAL, LLC

UOP/HTAS

NIKKI-UNIVERSAL(UOP JAPAN)

GTC INC. U.S.A

EXXONMOBIL

GTC INC. U.S.A

 

Sales by Region

(Activity & Markets)

 

Sales/ Unit :Mil KRW

09/2010

2009

2008

Export

15,235,122

14,758,142

19,584,860

Domestic

11,243,285

11,211,645

14,725,567

Others

-　

119,213

113,789

Total

25,569,854

26,089,000

34,424,216

The Subject deals with the companies in USA, China, Oman, Saudi Arabia and Indonesia.

 

 

Court Action

 

Case No.

Court

Plaintiff(s)/ Creditor(s)/ Applicant(s)

Defendant(s)/ Debtor(s)/ Respondent(s)

Cause

Amount (KRW)

Status

 

Seoul District Court

Customers

The Subject Company

Leaking the Customers’ Private Information

51,048,000,000

Proceeding

 

Supreme Court

The Ministry of Defense, Korea

The Subject Company

-

46,500,000,000

3rd Round is proceeding.

There are 39 cases filed as Defendant(s)/ Debtor(s)/ Respondent(s) on releasing Customers’ Private Information amounting 51,048,000,000 KRW.

 

 

News Clipping

 

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FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.15

UK Pound

1

Rs.72.59

Euro

1

Rs.62.95

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.