MIRA INFORM REPORT
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Report Date : |
23.05.2011 |
IDENTIFICATION DETAILS
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Name : |
ARION TECHNOLOGY INC. |
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Registered Office : |
894, Hogye 2-dong, Dongan-gu, Anyang-si, Gyeonggi-do, Korea, 3rd Fl., Pica Bldg., Zip Code 431-836 |
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Country : |
South Korea |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
28.10.1999 |
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Com. Reg. No.: |
123-81-51500 |
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Legal Form : |
Listed Company |
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Line of Business : |
Manufacturer of Broadcasting Apparatuses |
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 |
ARION TECHNOLOGY INC. (Trade Name : ARION) (Korean Company Name : “(주)아리온테크놀로지”) |
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Registered Address |
894, Hogye 2-dong, Dongan-gu, Anyang-si,
Gyeonggi-do, Korea |
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Building |
3rd Fl., Pica Bldg. |
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Zip Code |
431-836 |
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Tel |
+82-31-361-3000 |
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Fax |
+82-31-361-3099 |
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E-mail |
info@arion.co.kr |
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Website |
www.arion.co.kr |
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Trading Address |
3rd Fl., Pica Bldg., 894, Hogye 2-dong,
Dongan-gu, Anyang-si, Gyeonggi-do, Korea |
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Tel |
+82-31-361-3000 |
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Fax |
+82-31-361-3099 |
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Type |
Export/Import |
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Industry |
Manufacture of Broadcasting Apparatuses |
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Main Business |
Digital Set Top Box, PVR(Personal Video Recorder), Digital Satellite
Master Antenna TV System, Digital Satellite Receiver |
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Established (mm/dd/yyyy) |
10/28/1999 |
Detailed Products
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Satellite receivers(52161526) |
CEO’s
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Name |
Lee Young-Jik (Jason) |
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Address |
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Date of Birth |
03/03/1963 |
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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) |
2,989,650,000 |
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Employees |
54 |
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Formation |
Listed Company (KOSDAQ : 058220) as of 08/05/2005 Venture Business |
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Bank Details |
Industrial Bank of Korea-Induckwon Branch Shinhan Bank-Pyungchon Branch Korea Exchange Bank Hana Bank-Pyungchon Branch |
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Corporate Registered No. |
134111-0069357 |
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Business Registered No. |
123-81-51500 |
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Permit & Licenses |
10/2001 UL 10/2001 FCC 10/2004 TL 9000 05/23/2008 Brand Name, ARION registered at UK Intellectual Property
Office Int’l Trade No,: 11702953 |
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Shareholder Position |
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Company History |
10/28/1999 Incorporate as the present name 02/2006 Moved to 1042-1, Hogye-dong,
Dongan-gu, Anyang-si, Gyeonggi-do, Korea from 1480, Gwanyang-dong, Dongan-gu, Anyang-si, Gyeonggi-do, Korea 09/2008 Moved to the present HQ address from 1042-1, Hogye-dong, Dongan-gu, Anyang-si, Gyeonggi-do,
Korea |
Management
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Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education/Career |
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President & CEO |
Mr. |
Lee Young-Jik (Jason) |
Korean |
1963. 03. 03 |
Education : Graduated from Yonsei Univ.(BA, Major : business
administration) Career - CPA, Anjin Accounting. - General Manager of the planning and administration department, - Daeyu Trading Co., Ltd. - President & CEO, InoverTech Co., Ltd. |
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Director/Overseas Sales |
Mr. |
Roh Tae-Jo(Thomas) |
Korean |
1966. 08. 20 |
Education : Graduated from Korea Univ.(BA, Major: Russian Literature) Career - Manager, LG Int'l Corp. - Senior Sales Manager, STMicroelectronics Korea |
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Director |
Mr. |
Lee Jong-Wook |
Korean |
1967.03.01 |
Kyungsung University, Korea |
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Director |
Mr. |
Kim Kyung-Cheol |
Korean |
1969.08.19 |
Kwangwun University, Korea |
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Director |
Mr. |
Yoon Min-Kyu |
Korean |
1947.02.03 |
Seoul National University, Korea |
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Auditor |
Mr. |
Jung Moo-Kwon |
Korean |
1964. 06. 16 |
Education : Graduated from Yonsei Univ.(BA, Major : business
administration) PH.D., of Huston University Career -Present Prof., of Kookmin University |
Financials
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Year / Unit : KRW |
Sales |
Assets |
Net Income |
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17,806,764,367 |
31,021,122,717 |
745,557,420 |
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2010 |
47,573,952,990 |
28,937,338,030 |
1,740,046,398 |
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2009 |
33,345,069,989 |
22,148,618,830 |
(-)2,789,926,740 |
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2008 |
26,819,519,974 |
27,620,768,169 |
1,731,355,855 |
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2007 |
41,304,252,070 |
32,559,786,816 |
(-)1,671,956,950 |
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2006 |
33,757,774,064 |
35,435,140,300 |
(-)3,822,486,334 |
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2005 |
50,082,090,935 |
32,582,539,328 |
2,187,303,568 |
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2004 |
54,393,744,592 |
19,808,857,334 |
4,306,329,471 |
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2003 |
29,002,901,008 |
15,014,276,213 |
2,127,052,689 |
(*)03/2011's
figures are based on the K-IFRS Accounting System.
Financial Description
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Authorized Capital(KRW) |
10,000,000,000 |
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Paid-Up Capital(KRW) |
2,989,650,000 |
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Total Issues Shares |
5,979,300 |
Balance
Sheet
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Unit : Korean Won |
01/01/2011~03/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
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Total Assets |
31,021,122,717 |
29,270,407,075 |
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Current
Assets |
23,662,622,089 |
21,826,417,954 |
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Cash & Cash Equivalents |
515,441,842 |
622,603,640 |
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Current Financial Instruments |
2,437,135,023 |
6,378,838,538 |
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Trade Receivables & Other
Receivables |
14,599,486,453 |
10,590,427,942 |
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Inventories |
5,683,072,019 |
4,072,818,066 |
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Other Current Assets |
427,486,752 |
161,729,768 |
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Non-Current
Assets |
7,358,500,628 |
7,443,989,121 |
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Tangibles |
771,729,005 |
692,749,528 |
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Intangibles |
3,254,887,383 |
3,434,228,575 |
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Marketable Financial Instruments |
315,886,110 |
315,886,110 |
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Other Non-Current Financial
Instruments |
146,640,962 |
146,701,280 |
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Deferred Income Tax Credit |
2,869,357,168 |
2,854,423,628 |
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Total
Liabilities |
14,746,133,229 |
13,640,560,117 |
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Current
Liabilities |
12,012,079,702 |
11,032,458,590 |
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Trade Payables & Other
Payables |
10,740,184,116 |
10,475,988,363 |
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Current Portion of Long-Term Liabilities |
306,560,000 |
306,560,000 |
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Other Current Financial
Instruments |
82,210,864 |
35,214,960 |
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Other Current Liabilities |
883,124,722 |
214,695,267 |
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Non-Current
Liabilities |
2,734,053,527 |
2,608,101,527 |
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Long-Term Borrowings |
1,432,440,000 |
1,432,440,000 |
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Provision for Severance & Retirement |
1,301,613,527 |
1,175,661,527 |
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Capital Stock |
2,989,650,000 |
2,924,145,000 |
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Capital Surplus |
8,144,522,743 |
8,125,152,376 |
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Profit Surplus |
6,103,325,759 |
5,357,768,339 |
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Capital Adjustment |
-920,231,443 |
-837,558,677 |
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Others |
-42,277,571 |
60,339,920 |
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Total Equity |
16,274,989,488 |
15,629,846,958 |
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Liab. & Shareholder’s Equity |
31,021,122,717 |
29,270,407,075 |
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Income
Statement
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Unit : Korean Won |
01/01/2011~03/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
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Sales |
17,806,764,367 |
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Cost of Sold Goods |
13,965,730,774 |
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Gross Profit |
3,841,033,593 |
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Selling & Admin.
Expenses |
2,884,002,302 |
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Other Operating
Income |
289,360,021 |
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Other Operating
Expenses |
442,047,621 |
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Operating Income |
804,343,691 |
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Finance Income |
8,002,937 |
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Finance Expenses |
12,192,533 |
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Investment Income |
- |
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Investment Loses |
39,926,820 |
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Non-Operating Income |
660,000 |
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Income Before Taxes |
759,567,275 |
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Income Before Taxes |
14,009,855 |
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Cash
Flows
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Unit : Korean Won |
01/01/2011~03/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
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Operating Activities Cash Flows |
-3,651,688,062 |
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Cash Flows from Investing |
3,545,547,972 |
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Cash Inflow from
Investing |
30,763,376,564 |
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Cash Outflows for
Investing |
-27,217,828,592 |
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Cash Flows from Financing |
909,890 |
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Cash Inflows from
Financing |
180,909,890 |
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Cash Outflows from
Financing |
-180,000,000 |
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Increase/Decrease in Cash |
-107,161,798 |
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Cash at the Beginning of Year |
622,603,640 |
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Cash at the End of Year |
515,441,842 |
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Products, Technologies, Services Description
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Main Products & Services |
STB(FTA, CI, CAS) PVR(Personal Video Recorder) Brand Name : ARION (*)The Subject is supplied 100% by the out
sourcing producers. |
Trade Partners & Competitors
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Suppliers |
SAMSUNG ELECTRO-MECHANICS CO., LTD.(130111-0001626) SAMJUNG ELECTRONICS CO., LTD-CHINA LIAN ARION CO., LTD. STM NEC |
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Customers |
DISH TV-INDIA VIDEOCON-INDIA |
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Competitors |
HUMAX(110111-0604200) TOPFIELD CO., LTD(131111-0033389) WOOJEON & HANDAN CO.,
LTD.(110111-1459969) HYUNDAI DIGITAL TECHNOLOGY CO., LTD.(110111-1535272) HOMECAST CO., LTD.(110111-1954513) KAON MEDIA CO., LTD.(131111-0060978) MOTOROLA SCIENTIFIC ATLANTA PACE THOMSON MULTIMEDIA ECHOSTAR HUGHES |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Cooperative Enterprise |
ARION BOMEMA TECHNOLOGIES PTY LTD (16.00% held by the subject company) LIAN ARION LTD. (16.67% held by the subject company) INVIX CO., LTD. (22.52% held by the subject company) -Insured Company HEUNGKUK SSANGYONG FIRE & MARINE
INSURANCE CO.,LTD.(110111-0016728) |
Sales by Region
(Activity & Markets)
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Sales/ Unit
: KRW |
03/2011 |
2010 |
2009 |
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Export |
17,804,502,621 |
47,531,586,170 |
33,326,358,552 |
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Domestic |
2,261,746 |
42,366,820 |
18,711,437 |
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Total |
17,806,764,367 |
47,573,952,990 |
33,345,069,989 |
The Subject exports
to India, Russia, Argentina, Japan, Germany, Netherland, Middle East, North
Africa..
Court Action
No.
News Clipping
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.93 |
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UK Pound |
1 |
Rs.72.92 |
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Euro |
1 |
Rs.64.34 |
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 |
|
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.