MIRA INFORM REPORT
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Report Date : |
21.03.2011 |
IDENTIFICATION DETAILS
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Name : |
KC&A CORPORATION |
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Registered Office : |
205-5, Nonhyeon 1-dong, Gangnam-gu, Seoul, Korea, 4th Fl., Soosan Bldg., Zip Code 135-545 |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
26.12.1990 |
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Com. Reg. No.: |
211-86-04269 |
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Legal Form : |
Co., Ltd by shares |
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Line of Business : |
Wholesale of Industrial Basic Chemicals |
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 |
KC&A
CORPORATION (Korean Company Name : “(주)케이씨엔에이”) |
|
Registered Address |
205-5, Nonhyeon 1-dong, Gangnam-gu, |
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Building |
4th Fl., Soosan Bldg. |
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Zip Code |
135-545 |
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Tel |
+82-2-3440-4200 |
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Fax |
+82-2-545-4807 |
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E-mail |
phyoon@kcna.co.kr
; dongwansuh@kcna.co.kr ; yj@kcna.co.kr ; jtkim@kcna.co.kr |
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Website |
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Trading Address |
4th
Fl., Soosan Bldg., 205-5, Nonhyeon 1-dong, Gangnam-gu, |
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Tel |
+82-2-3440-4200 |
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Fax |
+82-2-545-4807 |
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Other Address |
123, Cheonggye-ri, Dongtan-myeon,
Hwaseong-si, Gyeonggi-do 445-811 |
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Type |
Export/Import |
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Industry |
Wholesale of Industrial Basic Chemicals |
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Main Business |
Polyethylene, Polypropylene, Acetaldehyde, Ethyl Acetate, Ethylamines |
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Established (mm/dd/yyyy) |
12/26/1990 |
The Subject Company
occupies the premises of registered HQ address by leasing base.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Polypropylene resin(13111019) |
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Sell |
Polyethylene(13111016) |
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Sell |
Chemistry reagents or solutions(41116105) |
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Sell |
Aldehydes or its substitutes(12352114) |
CEO’s
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Name |
Lee Jae-An |
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Address |
Suite 102-1802, 425, Cheonho-dong,
Gangdong-gu, |
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Date of Birth |
05/08/1957 |
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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) |
4,000,000,000 |
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Employees |
49 |
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Formation |
Co., Ltd by shares |
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Bank Details |
Hana Bank-Nonhyun Central Branch Woori Bank-Seocho Dong Branch Korea Exchange Bank |
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Corporate Registered No. |
110111-0739205 |
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Business Registered No. |
211-86-04269 |
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Permit & Licenses |
06/2001 ISO 9001 Certificate Int’l Trade No.: 191256 |
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Shareholder Position |
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Company History |
12/1990 Incorporated as “ 09/1992 Agreed on the contract for sole
agency with KAI 06/1993 Changed company name to Korea
Chemicals Corporation 12/2001 Increased capital to 4,000,000,000
KRW 06/2001 ISO 9001 Certificate 09/2002 Conclusion of the contract for
sole agency with IEC 08/2003 Changed company name to the
present name 01/2003 Establishment of the non-chemistry
department |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lee Jae-An |
Male |
Korean |
03/24/2003 |
|
Director |
Mr. |
Ji Chang-Soo |
Male |
Korean |
02/28/1994 |
|
Director |
Mr. |
Yoon Young-Doo |
Male |
Korean |
02/27/1993 |
|
Director |
Mr. |
Ji Yong-Suck |
Male |
Korean |
02/27/1999 |
|
Director |
Mr. |
Kim Joon-Tae |
Male |
Korean |
03/19/2009 |
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Auditor |
Mr. |
Chong Hwan-Bum |
Male |
Korean |
04/21/2010 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
392,241,447,323 |
121,078,672,288 |
5,985,098,308 |
|
|
2008 |
403,158,724,565 |
80,568,346,618 |
7,633,040,893 |
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2007 |
284,629,104,650 |
92,311,617,468 |
5,714,298,975 |
|
2006 |
201,296,058,206 |
69,607,430,687 |
2,645,604,874 |
|
2005 |
197,165,716,159 |
73,019,839,816 |
2,182,270,274 |
|
2004 |
139,373,269,789 |
52,643,742,839 |
4,258,191,472 |
|
2003 |
103,313,443,198 |
43,005,257,983 |
1,322,207,646 |
Financial Description
|
Authorized Capital(KRW) |
6,000,000,000 |
|
Paid-Up Capital(KRW) |
4,000,000,000 |
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Total Issues Shares |
800,000 |
Balance Sheet
|
Unit : Korean Won |
As of 12/31/2009 |
As of 12/31/2008 |
As of 12/31/2007 |
|
Total Assets |
121,078,672,288 |
80,568,346,618 |
92,311,617,468 |
|
Current Assets |
75,862,667,240 |
39,619,598,074 |
55,330,310,084 |
|
-Quick Assets |
67,462,868,476 |
35,444,683,937 |
49,575,332,851 |
|
-Inventories |
8,399,798,764 |
4,174,914,137 |
5,754,977,233 |
|
Fixed Assets |
45,216,005,048 |
40,948,748,544 |
36,981,307,384 |
|
-Investment |
43,168,087,336 |
39,067,230,246 |
34,992,160,938 |
|
-Tangibles |
98,415,466 |
119,087,000 |
72,982,226 |
|
-Intangibles |
1,949,502,246 |
1,762,431,298 |
1,916,164,220 |
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Total Liabilities |
73,263,452,821 |
38,677,373,758 |
57,251,783,596 |
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Current Liabilities |
67,477,257,402 |
33,761,735,426 |
52,282,816,851 |
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Fixed Liabilities |
5,786,195,419 |
4,915,638,332 |
4,968,966,745 |
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Capital Stock |
4,000,000,000 |
4,000,000,000 |
4,000,000,000 |
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Capital Surplus |
|
|
- |
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Profit Surplus |
43,286,295,135 |
37,301,196,827 |
29,668,155,934 |
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Capital Adjustment |
528,924,332 |
589,776,033 |
1,391,677,938 |
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Total Equity |
47,815,219,467 |
41,890,972,860 |
35,059,833,872 |
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Liab. & Shareholder’s Equity |
121,078,672,288 |
80,568,346,618 |
92,311,617,468 |
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Current
Liabilities |
67,477,257,402 |
33,761,735,426 |
52,282,816,851 |
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Trade
Payables |
48,723,290,628 |
24,177,077,040 |
35,358,937,998 |
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Short-Term
Borrowings |
13,270,179,607 |
8,255,457,004 |
12,742,240,585 |
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Account
Payables |
1,220,767,346 |
482,993,858 |
2,311,688,024 |
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Advance
Receipts |
3,460,174,578 |
64,486,649 |
132,899,174 |
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Withholdings |
57,189,880 |
156,753,700 |
97,150,407 |
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Derivatives |
- |
131,220,676 |
- |
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Accrued
Expenses |
3,300,000 |
17,048,550 |
44,705,285 |
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Accrued
Income Tax |
484,832,963 |
219,175,549 |
1,337,672,978 |
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Accrued
Dividends |
257,522,400 |
257,522,400 |
257,522,400 |
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Fixed
Liabilities |
5,786,195,419 |
4,915,638,332 |
4,968,966,745 |
|
Deferred Income Tax Credit |
5,634,039,477 |
4,729,435,163 |
4,733,750,345 |
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Provision for Severance & Retirement |
512,547,390 |
550,094,680 |
654,780,110 |
Income
Statement
|
Unit : Korean Won |
As of 12/31/2009 |
As of 12/31/2008 |
As of 12/31/2007 |
|
Sales |
392,241,447,323 |
403,158,724,565 |
284,629,104,650 |
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Cost of Sold Goods |
377,144,827,278 |
382,822,314,828 |
270,647,607,023 |
|
Gross Profit |
15,096,620,045 |
20,336,409,737 |
13,981,497,627 |
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Selling & Admin. Expenses |
11,111,481,977 |
16,080,576,835 |
10,814,211,549 |
|
Operating Income |
3,985,138,068 |
4,255,832,902 |
3,167,286,078 |
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Non-Operating Income |
12,884,647,621 |
22,999,480,743 |
8,218,886,389 |
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Non-Operating Expenses |
9,133,918,282 |
18,479,530,834 |
3,595,356,915 |
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Ordinary Income |
7,735,867,407 |
8,775,782,811 |
7,790,815,552 |
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Special Income |
- |
- |
- |
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Income Before Taxes |
7,735,867,407 |
8,775,782,811 |
7,790,815,552 |
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Income Taxes Expenses |
1,750,769,099 |
1,142,741,918 |
2,076,516,577 |
|
Net Income |
5,985,098,308 |
7,633,040,893 |
5,714,298,975 |
Cash Flows
|
Unit : Korean Won |
As of 12/31/2009 |
As of 12/31/2008 |
As of 12/31/2007 |
|
Cash Flows from Operating |
(-)2,048,714,916 |
1,831,364,595 |
135,674,150 |
|
-Net Income |
5,985,098,308 |
7,633,040,893 |
5,714,298,975 |
|
-Exp. without Cash Outflow |
906,980,121 |
1,681,294,594 |
830,864,836 |
|
-Revenue without Cash Inflows |
(-)4,683,799,948 |
(-)7,494,747,605 |
(-)5,639,044,076 |
|
-Changes in Asset/ & Liability |
(-)4,256,993,397 |
11,776,713 |
(-)770,445,585 |
|
Cash Flows from Investing |
168,156,332 |
2,946,742,964 |
2,496,245,451 |
|
-Cash Inflow from Investing |
528,076,291 |
4,195,817,007 |
9,827,988,692 |
|
-Cash Outflows for Investing |
(-)359,919,959 |
(-)1,249,074,043 |
(-)7,331,743,241 |
|
Cash Flows from Financing |
5,014,722,603 |
(-)4,486,783,581 |
(-)1,438,160,019 |
|
-Cash Inflows from Financing |
25,505,722,603 |
51,490,457,004 |
- |
|
-Cash Outflows from Financing |
(-)20,491,000,000 |
(-)55,977,240,585 |
(-)1,438,160,019 |
|
Increase/Decrease in Cash |
3,134,164,019 |
291,323,978 |
1,193,759,582 |
|
Cash at the Beginning of Year |
3,378,549,755 |
3,087,225,777 |
1,893,466,195 |
|
Cash at the End of Year |
6,512,713,774 |
3,378,549,755 |
3,087,225,777 |
Products, Technologies, Services Description
|
Main Products & Services |
Polyethylene, Polypropylene, Acetaldehyde, Ethyl Acetate, Ethylamines The Subject is acting as the charge of sales
of KOREA ALCOHOL INDUSTRIAL CO., LTD.(181211-0003728). |
Trade Partners & Competitors
|
Customers |
KOREA ALCOHOL INDUSTRIAL CO., LTD.(181211-0003728) INTERNATIONAL EASTER CO., LTD.(181211-0024740) ENF TECHNOLOGY CO., LTD.(110111-1957195) BIZMARC CORPORATION(110111-2198730) |
|
Competitors |
CHEMA INTERNATIONAL CORP. RM. 503, SAMYANG BLDG., 404-5, GALHYEON
1-DONG, EUNPYEONG-GU, TEL:+82-2-358-8508~9 FAX:+82-2-358-5005 JUNGJIN POLYMER 193-1, YANGPYEONGDONG 1-GA,
YEONGDEUNGPO-GU, TEL:+82-2-2672-9608 FAX:+82-2-2672-9613 PAARANG CO., LTD. RM. 829, LG ECLAT, 736-24, YEOKSAM 1-DONG,
GANGNAM-GU, TEL:+82-2-568-7069 FAX:+82-2-568-7069 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
KOREA ALCOHOL INDUSTRIAL CO., LTD.(181211-0003728) (29.93% held by the subject company) BIZMARC CORPORATION(110111-2198730) (13.89% held by the subject company) INTERNATIONAL EASTER CO., LTD.(181211-0024740) ENF TECHNOLOGY CO., LTD.(110111-1957195) ALTRA CO., LTD.(134811-0078536) |
|
Cooperative |
-Insured Company LIG INSURANCE CO., LTD.(110111-0017859) DONGBU LIFE INSURANCE CO., LTD.(110111-0623606) |
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.45.09 |
|
|
1 |
Rs.72.82 |
|
Euro |
1 |
Rs.63.43 |
RATING EXPLANATIONS
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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.