MIRA INFORM
REPORT
|
Report Date : |
20.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
WOOJIN METAL CO., LTD. |
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|
|
|
Registered Office : |
350, Yuhyeon-ri, Yangchon-myeon, Gimpo-si, |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
06.01.1999 |
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Com. Reg. No.: |
139-81-39307 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Manufacturer of Ferro-Alloys |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment
Behaviour : |
No Complaints |
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Basic
|
Company Name |
WOOJIN METAL
CO., LTD. (Korean Company
Name : “(주)우진메탈”) |
|
Registered Address |
350, Yuhyeon-ri, Yangchon-myeon, Gimpo-si,
|
|
Zip Code |
415-821 |
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Tel |
+82-31-989-1303 |
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Fax |
+82-31-989-1305 |
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E-mail |
|
|
Trading Address |
350, Yuhyeon-ri, Yangchon-myeon, Gimpo-si,
|
|
Tel |
+82-31-989-1303 |
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Fax |
+82-31-989-1305 |
|
Other Address-Factory |
813-11, Osikdo-dong, Gunsan-si, |
|
Other Address-Branch |
Rm.917, F-dong, 4-1, Songdo-dong,
Yeonsu-gu, |
|
Other Address-Branch |
15-20, Ongjeong-ri, Tongjin-eup, Gimpo-si, |
|
Type |
Export/Import |
|
Industry |
Manufacture of Ferro-Alloys |
|
Main Business |
AL Shot Ball, Ferro Molybdenum, MoO3, Ferro Alloy |
|
Established (mm/dd/yyyy) |
01/06/1999 |
The Subject owns
the premises of registered HQ address and factory.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Abrasives and abrasive media(31191500) |
|
Sell |
Ferrous alloy(11101712) |
CEO’s
|
Name |
Lee Dong-Soon |
|
Address |
Suite 305-1001, 787, Madu-dong,
Ilsandong-gu, Goyang-si, |
|
Date of Birth |
02/27/1953 |
|
Title |
Representative Director |
|
Sex |
Female |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
400,000,000 |
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Employees |
17 |
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Formation |
Co., Ltd by Shares Venture Business |
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Bank Details |
Industrial Bank of Korea-Gimpo Branch Hana Bank Kookmin Bank |
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Corporate Registered No. |
120111-0182626 |
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Business Registered No. |
139-81-39307 |
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Permit & Licenses |
Int’l Trade No.: 14050428 |
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Shareholder Position |
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Company History |
01/06/1999 Incorporated as the present name 12/12/2007 Increased the authorized shares
to 1,000,000 shares from 20,000 shares 12/13/2007 Increased capital to 400,000,000
KRW from 200,000,000 KRW 08/08/2008 Designated as a Venture Business |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Representative Director |
M/S. |
Lee Dong-Soon |
Female |
Korean |
02/05/2002 |
|
Auditor |
Mr. |
Lee Byung-Hern |
Male |
Korean |
02/05/2008 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
24,004,410,464 |
23,831,354,970 |
440,485,313 |
|
|
2008 |
64,379,204,212 |
16,333,710,728 |
698,336,289 |
|
2007 |
41,264,929,492 |
13,364,341,442 |
813,239,932 |
|
2006 |
13,368,939,174 |
5,215,554,246 |
229,731,914 |
|
2005 |
44,492,718,208 |
9,091,621,087 |
1,085,365,810 |
Financial Description
|
Authorized Capital(KRW) |
10,000,000,000 |
|
Paid-Up Capital(KRW) |
400,000,000 |
|
Total Issues Shares |
40,000 |
Balance Sheet
|
Unit : Korean Won |
As of 12/31/2009 |
As of 12/31/2008 |
As of 12/31/2007 |
|
Total Assets |
23,831,354,970 |
16,333,710,728 |
13,364,341,442 |
|
Current Assets |
15,825,392,199 |
9,847,252,302 |
5,735,827,796 |
|
-Quick Assets |
4,708,072,108 |
6,190,125,897 |
1,566,117,159 |
|
-Inventories |
11,117,320,091 |
3,657,126,405 |
4,169,710,637 |
|
Fixed Assets |
8,005,962,771 |
6,486,458,426 |
7,628,513,646 |
|
-Investment |
152,200,000 |
245,334,060 |
166,429,007 |
|
-Tangibles |
7,752,782,771 |
6,140,564,366 |
7,461,524,639 |
|
-Intangibles |
100,980,000 |
100,560,000 |
560,000 |
|
Total Liabilities |
18,600,233,744 |
11,558,324,733 |
9,282,551,175 |
|
Current Liabilities |
16,150,165,281 |
8,791,682,656 |
4,947,819,272 |
|
Fixed Liabilities |
2,450,068,463 |
2,766,642,077 |
4,334,731,903 |
|
Capital Stock |
400,000,000 |
400,000,000 |
400,000,000 |
|
Capital Surplus |
- |
- |
- |
|
Profit Surplus |
4,820,611,869 |
4,380,126,556 |
3,681,790,267 |
|
Capital Adjustment |
10,509,357 |
-4,740,561 |
- |
|
Total Equity |
5,231,121,226 |
4,775,385,995 |
4,081,790,267 |
|
Liab. & Shareholder’s Equity |
23,831,354,970 |
16,333,710,728 |
13,364,341,442 |
|
Current Liabilities |
16,150,165,281 |
8,791,682,656 |
4,947,819,272 |
|
Trade Payables |
770,771,478 |
812,961,913 |
444,006,430 |
|
Advance Receipts |
895,181,641 |
- |
- |
|
Short-Term Borrowings |
13,466,653,913 |
6,639,033,495 |
3,936,249,782 |
|
Account Payables |
183,600,475 |
55,269,758 |
145,480,436 |
|
Withholdings |
15,896,160 |
10,702,880 |
7,886,270 |
|
Accrued Income Tax |
6,869,840 |
55,248,050 |
201,979,430 |
|
Accrued Expenses |
6,711,774 |
12,236,560 |
12,216,924 |
|
Current Portion of Long-Term Debts |
804,480,000 |
1,206,230,000 |
200,000,000 |
|
Fixed Liabilities |
2,450,068,463 |
2,766,642,077 |
4,334,731,903 |
|
Long-Term Borrowings |
2,169,680,000 |
2,634,090,000 |
4,239,820,000 |
|
Provision for Severance & Retirement |
190,666,663 |
131,552,077 |
76,302,303 |
|
Leasehold Deposit Received |
91,000,000 |
1,000,000 |
21,000,000 |
Income Statement
|
Unit : Korean Won |
As of 12/31/2009 |
As of 12/31/2008 |
As of 12/31/2007 |
|
Sales |
24,004,410,464 |
64,379,204,212 |
41,264,929,492 |
|
Cost of Sold Goods |
22,394,118,196 |
62,063,580,255 |
39,339,452,977 |
|
Gross Profit |
1,610,292,268 |
2,315,623,957 |
1,925,476,515 |
|
Selling & Admin. Expenses |
1,051,584,079 |
1,052,262,531 |
639,452,806 |
|
Operating Income |
558,708,189 |
1,263,361,426 |
1,286,023,709 |
|
Non-Operating Income |
1,715,158,946 |
2,198,233,537 |
449,246,692 |
|
Non-Operating Expenses |
1,766,290,632 |
2,595,150,914 |
677,041,339 |
|
Ordinary Income |
507,576,503 |
866,444,049 |
1,058,229,062 |
|
Special Income |
- |
- |
- |
|
Income Before Taxes |
507,576,503 |
866,444,049 |
1,058,229,062 |
|
Income Taxes Expenses |
67,091,190 |
168,107,760 |
244,989,130 |
|
Net Income |
440,485,313 |
698,336,289 |
813,239,932 |
Cash Flows
|
Unit : Korean Won |
As of 12/31/2009 |
As of 12/31/2008 |
As of 12/31/2007 |
|
Cash Flows from Operating |
-3,367,392,189 |
-1,687,901,681 |
-1,495,183,952 |
|
-Net Income |
440,485,313 |
698,336,289 |
813,239,932 |
|
-Exp. without Cash Outflow |
458,180,889 |
748,291,155 |
236,213,801 |
|
-Revenue without Cash Inflows |
-365,202,078 |
-674,326,766 |
- |
|
-Changes in Asset/ & Liability |
-3,900,856,313 |
-2,460,202,359 |
-2,544,637,685 |
|
Cash Flows from Investing |
-2,074,529,073 |
1,045,785,156 |
-5,240,354,814 |
|
-Cash Inflow from Investing |
1,150,452,832 |
15,936,634,030 |
19,713,142,318 |
|
-Cash Outflows for Investing |
-3,224,981,905 |
-14,890,848,874 |
-24,953,497,132 |
|
Cash Flows from Financing |
6,307,308,362 |
2,250,384,581 |
6,584,334,878 |
|
-Cash Inflows from Financing |
31,280,748,049 |
35,775,537,775 |
38,864,052,244 |
|
-Cash Outflows from Financing |
-24,973,439,687 |
-33,525,153,194 |
-32,279,717,366 |
|
Increase/Decrease in Cash |
865,387,100 |
1,608,268,056 |
-151,203,888 |
|
Cash at the Beginning of Year |
1,636,979,657 |
28,711,601 |
179,915,489 |
|
Cash at the End of Year |
2,502,366,757 |
1,636,979,657 |
28,711,601 |
Products, Technologies, Services Description
|
Main Products & Services |
AL Shot Ball, Ferro Molybdenum, MoO3, Ferro Alloy |
Trade Partners & Competitors
|
Customers |
WOOJIN IND. CO.,
LTD.(124411-0009838) |
|
Competitors |
ENERTEC CO.,
LTD. 622,
GYENAE-RI, CHILSEO-MYEON, HAMAN-GUN, TEL:+82-55-586-5193 FAX:+82-55-586-5195 KORVAN IND.
CO., LTD. 115-4,
GALSAN-RI, WOLGOT-MYEON, GIMPO-SI, TEL:+82-31-981-6286 FAX:+82-31-987-7496 SUNGIL
ENGICOM CO., LTD. RM. 720,
HYUNDAI PARK VILLE, 108, GURO 5-DONG, GURO-GU, TEL:+82-2-852-4151 FAX:+82-2-852-4159 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
WOOJIN IND. CO.,
LTD.(124411-0009838) WOOJIN SFAT CO., LTD.(110111-3610303) |
|
Cooperative |
-Insured Company SAMSUNG FIRE & MARINE INSURANCE CO., LTD.( 110111-0005078) LOTTE NON-LIFE INSURANCE CO., LTD.(110111-0014459) |
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.44.98 |
|
|
1 |
Rs.72.68 |
|
Euro |
1 |
Rs.64.16 |
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.