MIRA INFORM REPORT

 

 

Report Date :           

30.05.2011

 

IDENTIFICATION DETAILS

 

Name :

SAMWON CO., LTD.

 

 

Formerly Known As :

SAMWON CO

 

 

Registered Office :

912-54, Dongnim-dong, Buk-gu, Gwangju, Korea, Zip code 500-804

 

 

Country :

South Korea

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

20.12.1999

 

 

Com. Reg. No.:

409-81-51253

 

 

Legal Form :

Co., Ltd by shares

 

 

Line of Business :

Manufacture of Cold Rolled, Drawn and Extruded Iron or Steel Products

 

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

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

Basic

 

Company Name

SAMWON CO., LTD.

(Korean Company Name : “(주)삼원종합상사”)

Registered Address

912-54, Dongnim-dong, Buk-gu, Gwangju, Korea

Zip Code

500-804

Tel

+82-62-527-3419

Fax

+82-62-511-2208

E-mail

samwon-3419@hanmail.net

Trading Address

912-54, Dongnim-dong, Buk-gu, Gwangju, Korea

Tel

+82-62-527-3419

Fax

+82-62-511-2208

Type

Export/Import

Industry

Manufacture of Cold Rolled, Drawn and Extruded Iron or Steel Products

  Main Business

Radiator, Cooler for Ships, Stainless Steel Products, Iron Scrap

Established (mm/dd/yyyy)

12/20/1999

The Subject owns the premises of registered HQ address.

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Steel(11101704)

Sell

Pipe(40142100)

Sell

Radiators(40101801)

 

 

CEO’s

 

Name

Won Choong-Ryul

Address

690-4, Jungheung-dong, Buk-gu, Gwangju, Korea

Date of Birth

11/22/1960

Title

President & CEO

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

900,000,000

Employees

23

Formation

Co., Ltd by shares

Bank Details

Gwangju Bank-Yongbong Branch

Industrial Bank of Korea-Pyungdong Industrial Complex Branch

Corporate Registered No.

200111-0109178

Business Registered No.

409-81-51253

Permit & Licenses

Int’l Trade No.: 15094722

Shareholder Position

Name

Shares

%

WON CHOONG-RYUL

81,000

45.00

WON CHOONG-KOOK

72,000

40.00

CHEON KYUNG-SOO

27,000

15.00

TOTAL

180,000

100.00

Company History

05/1991 Established as SAMWON CO.(Sole Proprietorship)

12/20/1999 Incorporated as the present name

12/15/2001 Moved to the present HQ address from 690-4, Jungheung-dong, Buk-gu, Gwangju, Korea

12/29/2004 Increased capital to 250,000,000 KRW from 200,000,000KRW

12/24/2005 Increased capital to 300,000,000 KRW from 250,000,000 KRW

11/28/2007 Increased capital to 450,000,000 KRW from 300,000,000 KRW

12/20/2008 Increased capital to 600,000,000 KRW from 450,000,000 KRW

12/14/2010 Increased capital to 900,000,000 KRW from 600,000,000 KRW

 

 

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

Mr.

Won Choong-Ryul

Male

Korean

12/20/1999

Director & Supervisor

Mr.

Cheon Kyung-Soo

Male

Korean

03/31/2005

Auditor

Mr.

Won Choong-Kook

Male

Korean

12/20/2002

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2010

45,285,301,000

10,478,428,000

1,260,328,000

2009

27,017,677,000

9,337,714,000

108,135,000

2008

23,577,390,000

7,748,884,000

496,524,000

2007

16,903,000,000

5,617,000,000

411,000,000

2006

14,826,000,000

4,577,000,000

351,000,000

2005

10,499,000,000

3,454,000,000

222,000,000

 

 

Financial Description

 

Authorized Capital(KRW)

800,000,000

Paid-Up Capital(KRW)

900,000,000

Total Issues Shares

180,000

 

Balance Sheet

 

Unit : Million Korean Won

As of 12/31/2010

As of 12/31/2009

As of 12/31/2008

Total Assets

10,478,428,000

9,337,714,000

7,748,884,000

Current Assets

6,726,271,000

5,794,984,000

4,554,246,000

Fixed Assets

3,752,157,000

3,542,729,000

3,194,638,000

Total Liabilities

5,666,962,000

6,126,576,000

5,133,233,000

Current Liabilities

2,929,502,000

3,050,956,000

2,776,915,000

Fixed Liabilities

2,737,460,000

3,075,620,000

2,356,317,000

Capital Stock

900,000,000

600,000,000

600,000,000

Capital Surplus

-

-

-

Profit Surplus

3,333,756,000

2,033,428,000

2,015,651,000

Capital Adjustment

577,710,000

577,710,000

-

Total Equity

4,811,466,000

3,211,138,000

2,615,651,000

Liab. & Shareholder’s Equity

10,478,428,000

9,337,714,000

7,748,884,000

 

 

Income Statement

 

Unit : Million Korean Won

As of 12/31/2010

As of 12/31/2009

As of 12/31/2008

Sales

45,285,301,000

27,017,677,000

23,577,390,000

Cost of Sold Goods

40,594,335,000

24,258,834,000

20,878,568,000

Gross Profit

4,690,966,000

2,758,843,000

2,698,822,000

Selling & Admin. Expenses

2,794,761,000

2,458,755,000

1,609,130,000

Operating Income

1,896,205,000

300,088,000

1,089,692,000

Non-Operating Income

2,737,460,000

3,075,620,000

2,356,317,000

Non-Operating Expenses

930,212,000

502,537,000

462,759,000

Ordinary Income

1,526,419,000

164,278,000

633,666,000

Special Income

-

-

-

Income Before Taxes

1,526,419,000

164,278,000

633,666,000

Income Taxes Expenses

-

-

-

Net Income

1,260,328,000

108,135,000

496,524,000

 

 

Cash Flows

 

Unit : Million Korean Won

As of 12/31/2010

As of 12/31/2009

As of 12/31/2008

Increase/Decrease in Cash

2,737,460,000

3,075,620,000

2,356,317,000

Cash at the Beginning of Year

 

 

 

Cash at the End of Year

930,212,000

502,537,000

462,759,000

 

 

Products, Technologies, Services Description

 

Main Products & Services

Radiator, Cooler for Ships, Stainless Steel Products, Iron Scrap

 

 

Trade Partners & Competitors

 

Suppliers

POSCO(174611-0000741)

JMP CORPORATION

Competitors

U-RIM RADIATOR MANUFACTURE CO., LTD.

61-28, ONGJEONG-RI, TONGJIN-EUP, GIMPO-SI, GYEONGGI-DO, KOREA

TEL:+82-31-988-6660  FAX:+82-31-988-6668

 

DAEYOO RADIATOR IND. CO., LTD.

604B-7, BANWOL INDUSTRIAL COMPLEX, 644, SEONGGOK-DONG, DANWON-GU, ANSAN-SI, GYEONGGI-DO, KOREA

TEL:+82-31-494-4411  FAX:+82-31-494-9021

 

DAEHEUNG RADIATOR CO., LTD.

186-1, DEOKDO-RI, GWANGJEOK-MYEON, YANGJU-SI, GYEONGGI-DO, KOREA

TEL:+82-31-855-7728  FAX:+82-31-855-0557

 

 

Related Parties

(Subsidiaries, Joint-Venture & Affiliates)

 

Affiliates

SAMWON ENGINEERING CO., LTD.(KOREA)

 

 

Sales by Region

(Activity & Markets)

 

Not Available.

 

 

Court Action

 

Not Available.

 

 

News Clipping

 

---

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.21

UK Pound

1

Rs.74.31

Euro

1

Rs.64.40

 

 

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.