MIRA INFORM REPORT
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Report Date : |
26.11.2011 |
IDENTIFICATION DETAILS
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Name : |
YOUNG POONG CORPORATION |
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Formerly Known As : |
Young Poong
Commerce, Co., Ltd |
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Registered Office : |
142, Nonhyeon 1-dong, Gangnam-gu, Seoul, Korea, Youngpoong Bldg., Zip code 135-749 |
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Country : |
South Korea |
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Financials (as on) : |
30.09.2011 |
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Date of Incorporation : |
25.11.1949 |
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Com. Reg. No.: |
211-81-11275 |
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Legal Form : |
Listed Company |
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Line of Business : |
Manufacturer of Smelting, Refining and Alloys of Lead, Zinc and Tin |
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No. of Employees
: |
542 Persons |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Regular |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
YOUNG POONG CORPORATION (Korean Company Name : “(주)영풍”) |
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Registered Address |
142,
Nonhyeon 1-dong, Gangnam-gu, Seoul, Korea |
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Building |
Youngpoong Bldg. |
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Zip Code |
135-749 |
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Tel |
+82-2-519-3314 |
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Fax |
+82-2-548-8505 |
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E-mail |
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Website |
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Trading Address |
Youngpoong
Bldg., 142, Nonhyeon 1-dong, Gangnam-gu, Seoul, Korea |
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Tel |
+82-2-519-3314 |
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Fax |
+82-2-548-8505 |
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Other Address-Anseong Battery Factory |
282,
Naegacheon-ri, Wongok-myeon, Anseong-si, Gyeonggi-do, Korea |
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Tel |
+82-31-656-6501~8 |
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Fax |
+82-31-656-6505 |
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Other Address-Sukpo Zinc Refinery |
555, Seokpo-ri, Seokpo-myeon, Bonghwa-gun, Gyeongsangbuk-do, Korea |
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Tel |
+82-54-679-7200 |
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Fax |
+82-54-672-3815 |
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Other Address-Branch |
San 68-7, Sanha-ri, Wongok-myeon, Anseong-si, Gyeonggi-do, Korea |
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Tel |
+82-31-611-5793 |
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Fax |
+82-31-611-5796 |
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Type |
Export/Import |
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Industry |
Manufacture of Smelting, Refining and Alloys of Lead, Zinc and Tin |
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Main Business |
Zinc Ingot, Batteries, Sulfuric Acid, Alksline Battery, Ni-MH Battery |
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Sub
Business |
Manufacture of Accumulators |
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Established (mm/dd/yyyy) |
11/25/1949 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
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Sell |
Cafeteria services(90101700) |
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Sell |
Rechargeable batteries(26111701) |
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Sell |
Inorganic acids(12352301) |
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Sell |
Zinc ingots(30103404) |
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Sell |
Chemicals including Bio Chemicals and Gas Materials(12000000) |
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Sell |
Alkaline batteries(26111702) |
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Sell |
Rechargeable batteries(26111701) |
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Sell |
Dry cell batteries(26111705) |
CEO’s
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Name |
Cho Woo-Jong |
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Date of Birth |
03/12/1948 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
|
Capital (KRW) |
9,210,200,000 |
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Employees |
542 |
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Formation |
Listed Company (Korea Stock Exchange : 000670)
as of 06/13/1976 A Company of YOUNG POONG GROUP |
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Bank Details |
Shinhan Bank-Nonhyun Dong Branch |
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Corporate Registered No. |
110111-0003824 |
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Business Registered No. |
211-81-11275 |
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Permit & Licenses |
Int’l Trade No.: 670076 |
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Shareholder Position |
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Company History |
11/25/1949
Incorporated as Young Poong Industry(Partnership Company) 10/1970 Changed
company name to Young Poong Commerce, Co., Ltd. 02/1978
Changed company name to the present name 12/2008
Awarded US$ 500 Million Export Top Prize |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
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Chairman & CEO |
Mr. |
Chang Hyung-Jin |
Korean |
1946.06.06. |
Yonsei University Korean |
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President & CEO |
Mr. |
Cho Woo-Jong |
Korean |
1948.03.12. |
Korea University Korean |
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Vice President & CEO |
Mr. |
Kim Myung-Soo |
Korean |
1952.08.13 |
Kyungbuk University Korean |
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Director |
Mr. |
Choi Chang-Gul |
Korean |
1941.11.11 |
Seoul National University |
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Outside Director |
Mr. |
Kim Sung-In |
Korean |
1946.07.11 |
Seoul National University |
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Outside Director |
Mr. |
Chang Sung-Ki |
Korean |
1941.09.19 |
Kunkook University, Korea |
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Auditor |
Mr. |
Ahn Joon-Ho |
Korean |
1958.11.21 |
Chungju University, Korea |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
774,951,741,223 |
2,037,665,088,535 |
64,512,804,138 |
|
|
2010 |
879,813,737,152 |
1,739,675,782,527 |
188,586,461,217 |
|
2009 |
669,989,894,563 |
1,497,046,652,997 |
143,815,215,647 |
|
2008 |
750,085,073,287 |
1,306,747,185,873 |
141,190,794,480 |
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2007 |
904,109,352,670 |
1,276,075,609,330 |
165,073,011,820 |
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2006 |
769,496,121,327 |
1,304,947,449,864 |
113,665,662,196 |
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2005 |
410,585,587,289 |
970,866,998,934 |
32,488,156,007 |
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2004 |
367,943,059,994 |
815,293,998,888 |
51,384,055,063 |
Financial Description
|
Authorized Capital(KRW) |
35,000,000,000 |
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Paid-Up Capital(KRW) |
9,210,200,000 |
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Total Issued Shares |
1,842,040 |
Balance
Sheet
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|||
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Unit : Korean Won |
01/01/2011~09/30/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
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Total Assets |
2,037,665,088,535 |
1,934,559,344,873 |
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Current Assets |
396,662,370,166 |
328,992,550,261 |
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Cash & Cash
Equivalents |
103,089,813,245 |
100,338,681,137 |
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Other Finance Assets |
36,462,412,352 |
51,735,329,231 |
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Trade Receivables
& Other Receivables |
55,629,245,384 |
17,290,829,177 |
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Other Current Assets |
4,762,754,709 |
12,416,696,746 |
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Inventories |
196,718,144,476 |
147,211,013,970 |
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Non-Current Assets |
1,641,002,718,369 |
1,605,566,794,612 |
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Marketable Financial
Instruments |
48,847,692,841 |
61,868,821,405 |
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Other Finance Assets |
10,941,900,154 |
6,740,045,424 |
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Investment_Related
Companies |
728,522,884,643 |
717,418,225,281 |
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Investment_Real
Estates |
487,303,923,141 |
489,532,816,865 |
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Tangibles |
361,221,335,517 |
325,642,945,642 |
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Intangibles |
3,568,901,545 |
3,649,898,568 |
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Other Non-Current
Assets |
596,080,528 |
714,041,427 |
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Total
Liabilities |
573,117,294,891 |
521,614,857,011 |
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Current Liabilities |
264,350,959,548 |
207,731,929,036 |
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Trade Payables &
Other Payables |
87,859,935,751 |
69,935,617,216 |
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Short-Term Borrowings |
162,474,606,740 |
126,818,431,597 |
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Other Current
Financial Debts |
873,293,283 |
1,271,356,225 |
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Other Current
Liabilities |
623,181,079 |
390,110,117 |
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Deferred Income Tax
Credit |
12,519,942,695 |
9,316,413,881 |
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Non-Current Liabilities |
308,766,335,343 |
313,882,927,975 |
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Long-Term Borrowings |
37,088,416,500 |
36,021,720,500 |
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Other Non-Current
Financial Debts |
40,609,988,825 |
44,537,804,360 |
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Provision for
Severance & Retirement |
5,173,096,144 |
4,220,823,501 |
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Deferred Income Tax
Credit |
225,894,833,874 |
229,102,579,614 |
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Capital Stock |
9,210,200,000 |
9,210,200,000 |
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Capital Surplus |
1,807,717,500 |
1,807,717,500 |
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Treasury Stock |
-17,461,324,328 |
-17,461,324,328 |
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Profit Surplus |
1,453,886,530,096 |
1,393,674,060,958 |
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Others |
17,104,670,376 |
25,713,833,732 |
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Total Equity |
1,464,547,793,644 |
1,412,944,487,862 |
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Liab. & Shareholder’s Equity |
2,037,665,088,535 |
1,934,559,344,873 |
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Balance Sheet |
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Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
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Total Assets |
1,739,675,782,527 |
1,497,046,652,997 |
1,306,747,185,873 |
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Current Assets |
330,286,506,358 |
266,663,437,165 |
252,097,344,034 |
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-Quick Assets |
181,558,509,102 |
126,619,129,823 |
146,313,533,090 |
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-Inventories |
148,727,997,256 |
140,044,307,342 |
105,783,810,944 |
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Fixed Assets |
1,409,389,276,169 |
1,230,383,215,832 |
1,054,649,841,839 |
|
-Investment |
948,629,657,103 |
760,206,689,029 |
614,668,806,712 |
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-Tangibles |
449,307,267,120 |
458,407,167,726 |
429,590,765,952 |
|
-Intangibles |
1,248,052,558 |
1,358,776,599 |
1,469,452,871 |
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-Others |
10,204,299,388 |
10,410,582,478 |
8,920,816,304 |
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Total Liabilities |
452,073,661,933 |
416,786,176,580 |
369,105,674,365 |
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Current Liabilities |
207,426,949,929 |
177,601,896,851 |
147,273,585,018 |
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Fixed Liabilities |
244,646,712,004 |
239,184,279,729 |
221,832,089,347 |
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Capital Stock |
9,210,200,000 |
9,210,200,000 |
9,210,200,000 |
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Capital Surplus |
296,540,343,513 |
283,261,410,297 |
280,376,676,356 |
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Profit Surplus |
913,397,283,223 |
729,063,532,006 |
589,908,046,771 |
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Capital Adjustment |
68,454,293,858 |
58,725,334,114 |
58,146,588,381 |
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Total Equity |
1,287,602,120,594 |
1,080,260,476,417 |
937,641,511,508 |
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Liab. & Shareholder’s Equity |
1,739,675,782,527 |
1,497,046,652,997 |
1,306,747,185,873 |
Income
Statement
|
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Unit : Korean Won |
01/01/2011~09/30/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
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Sales |
774,951,741,223 |
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|
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Cost of Sold Goods |
683,531,786,987 |
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|
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Gross Profit |
91,419,954,236 |
|
|
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Selling & Admin.
Expenses |
27,334,879,463 |
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Other Operating
Income |
16,482,552,805 |
|
|
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Other Operating
Expenses |
21,782,413,173 |
|
|
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Operating Income |
58,785,214,405 |
|
|
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Finance Income |
23,295,601,227 |
|
|
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Finance Expenses |
1,738,972,865 |
|
|
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Income Before Taxes |
80,341,842,767 |
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|
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Income Taxes Expenses |
15,829,038,629 |
|
|
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Net Income |
64,512,804,138 |
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Income
Statement |
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
879,813,737,152 |
669,989,894,563 |
750,085,073,287 |
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Cost of Sold Goods |
804,198,667,539 |
617,552,662,847 |
668,004,033,054 |
|
Gross Profit |
75,615,069,613 |
52,437,231,716 |
82,081,040,233 |
|
Selling & Admin. Expenses |
36,369,065,063 |
31,731,942,103 |
33,262,635,826 |
|
Operating Income |
39,246,004,550 |
20,705,289,613 |
48,818,404,407 |
|
Non-Operating Income |
198,324,687,435 |
185,452,464,651 |
171,052,498,765 |
|
Non-Operating Expenses |
17,506,894,334 |
24,468,152,318 |
63,956,124,481 |
|
Income Before Taxes |
220,063,797,651 |
181,689,601,946 |
155,914,778,691 |
|
Income Taxes Expenses |
31,477,336,434 |
37,874,386,299 |
14,723,984,211 |
|
Net Income |
188,586,461,217 |
143,815,215,647 |
141,190,794,480 |
Cash
Flows
|
|||
|
Unit : Korean Won |
01/01/2011~09/30/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Operating
Activities Cash Flows |
54,373,688,782 |
|
|
|
Net Income |
64,512,804,138 |
|
|
|
Adjustment |
53,096,889,272 |
|
|
|
Interests Received |
3,235,618,103 |
|
|
|
Interests Paid |
-1,717,283,345 |
|
|
|
Dividends Received |
18,436,293,600 |
|
|
|
Dividends Paid |
-4,300,335,000 |
|
|
|
Income Taxes |
-13,536,634,347 |
|
|
|
Cash
Flows from Investing |
-69,608,027,723 |
|
|
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Cash Inflow from Investing |
61,361,144,763 |
|
|
|
Cash Outflows for Investing |
-130,969,172,486 |
|
|
|
Cash
Flows from Financing |
17,974,489,362 |
|
|
|
Cash Inflows from Financing |
147,591,253,211 |
|
|
|
Cash Outflows from Financing |
-129,616,763,849 |
|
|
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Increase/Decrease
in Cash |
2,740,150,421 |
|
|
|
Cash at
the Beginning of Year |
100,338,681,137 |
|
|
|
Cash at
the End of Year |
103,089,813,245 |
|
|
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows from Operating |
83,908,457,090 |
23,334,362,900 |
81,342,716,904 |
|
-Net Income |
188,586,461,217 |
143,815,215,647 |
141,190,794,480 |
|
-Exp. without Cash Outflow |
65,666,052,577 |
50,651,720,705 |
50,781,359,328 |
|
-Revenue without Cash Inflows |
-166,897,516,955 |
-134,861,966,410 |
-122,726,681,843 |
|
-Changes in Asset/ & Liability |
-3,446,539,749 |
-36,270,607,042 |
12,097,244,939 |
|
Cash Flows from Investing |
-105,639,295,130 |
-71,152,814,648 |
-18,947,450,205 |
|
-Cash Inflow from Investing |
26,519,602,368 |
12,073,571,712 |
67,758,627,326 |
|
-Cash Outflows for Investing |
-132,158,897,498 |
-83,226,386,360 |
-86,706,077,531 |
|
Cash Flows from Financing |
30,479,800,776 |
16,111,694,893 |
-19,889,072,619 |
|
-Cash Inflows from Financing |
132,119,361,807 |
102,730,932,174 |
67,016,473,151 |
|
-Cash Outflows from Financing |
-101,639,561,031 |
-86,619,237,281 |
-86,905,545,770 |
|
Increase/Decrease in Cash |
8,748,962,736 |
-31,706,756,855 |
42,506,194,080 |
|
Cash at the Beginning of Year |
91,589,718,401 |
123,296,475,256 |
80,790,281,176 |
|
Cash at the End of Year |
100,338,681,137 |
91,589,718,401 |
123,296,475,256 |
Products, Technologies, Services Description
|
Main Products & Services |
Non-Ferrous Metal Refinery -Zinc Ingot -Zinc Alloy for Galvanizing -Zinc Alloy for Die Casting -Sulfuric Acid -Cadmium Stick -Copper Sulfate Rechargeable Batteries -Alkaline Battery -Ni-MH Battery -Manganese Battery |
Trade Partners & Competitors
|
Suppliers |
BAIKSAN METAL CO., LTD.(180111-0076091) |
|
Competitors |
POONG JEON NONFERROUS METAL CO., LTD. 8B-4L, 680-3, GYEONGSEO-DONG, SEO-GU,
INCHEON, KOREA TEL:+82-32-561-9111 FAX:+82-32-561-9118 SANGSHIN METALLIC CO., LTD. 4MA-402-2, SIHWA INDUSTRIAL COMPLEX, 701-3,
SEONGGOK-DONG, DANWON-GU, ANSAN-SI, GYEONGGI-DO, KOREA TEL:+82-31-499-4011 FAX:+82-31-499-4016 PJ ALTEK CO., LTD. 1B-4L, INCHEON WEST INDUSTRIAL COMPLEX,
682-3, GYEONGSEO-DONG, SEO-GU, INCHEON, KOREA TEL:+82-32-561-0787 FAX:+82-32-561-0789 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates-Domestic |
KOREA ZINC INC.(110111-0168404) (26.91% held by the subject company) KOREA NICKEL CORP.(110111-0529482) (13.0% held by the subject company) KOREA CIRCUIT CO., LTD.(130111-0026749) (32.39% held by the subject company) INTERFLEX CO., LTD.(135011-0042924) (17.67% held by the subject company) YOUNG POONG ELECTRONICS CO.,
LTD.(135011-0032106) (100.0% held by the subject company) YOUNG POONG BOOK STORE CO.,
LTD.(110111-0855530) (34.0% held by the subject company) SIGNETICS CORP.(110111-0070815) (25.58% held by the subject company) KG INTERNATIONAL
CORPORATION(110111-4252807) SORIN I & T CO., LTD.(110111-1260077) KG GREENTECH CO.,LTD.(230111-0164077) STI CORP.(115611-0019652) CLEAN KOREA CO., LTD.(134711-0004996) YOUNGPOONG CORPORATION(110111-0003824) YOUNG POONG PRECISION CORPORATION(110111-0342496) SEWON TEXTILE CO., LTD.(110111-0318760) TERRANIX CO., LTD.(135011-0042950) SORIN CORPORATION(110111-0365068) YOUNG POONG DEVELOPMENT CO.,
LTD.(110111-0612914) YOOMI DEVELOPMENT CO., LTD.(110111-0235542) SORIN INVESTMENT DEVELOPMENT CORPORATION(110111-0074544) KORYO HEAVY EQUIPMENT CO.,
LTD.(181211-0020558) KG ENGINEERING CO., LTD.(110111-2102153) ALANTUM CORPORATION(131111-0215078) XMETECH CO., LTD.(131111-0238400) |
|
Affiliates-Overseas |
YP JAPAN CORP.(JAPAN) (100.0% held by the subject company) CHINA CIRCUIT(TIANJIN) CO., LTD.(CHINA) KZ - PRANDA CO., LTD.(THAILAND) KZ MINERALS BOLIVIA S.A.(BOLIVIA) PAN PACIFIC METAL MINING CORP.(CANADA) COLWELL KENNEDY AUSTRALIA PTY.,
LTD.(AUSTRALIA) SUN METALS HOLDING PTY., LTD.(AUSTRALIA) SUN METALS CORP., PTY., LTD.(AUSTRALIA) ALANTUM EUROPE GMBH(GERMANY) IATM(DALIAN) CO., LTD.(CHINA) IATM(SHENYANG) CO., LTD.(CHINA) |
|
Subsidiary |
YOUNG POONG ELECTRONICS CO.,
LTD.(135011-0032106) (100.0% held by the subject company) YOUNG POONG BOOK STORE CO.,
LTD.(110111-0855530) (34.0% held by the subject company) YOUNG POONG DEVELOPMENT CO.,
LTD.(110111-0612914) SIGNETICS CORP.(110111-0070815) (25.58% held by the subject company) KOREA CIRCUIT CO., LTD.(130111-0026749) (32.39% held by the subject company) INTERFLEX CO., LTD.(135011-0042924) (17.67% held by the subject company) TERRANIX CO., LTD.(135011-0042950) YP JAPAN CORP.(JAPAN) (100.0% held by the subject company) CHINA CIRCUIT(TIANJIN) CO., LTD.(CHINA) |
|
Cooperative Enterprise |
-Insured Company HANWHA GENERAL INSURANCE CO., LTD.(110111-0006456) |
Sales by Region
(Activity & Markets)
|
Sales/ Unit :Mil KRW |
09/2011 |
2010 |
2009 |
|
Export |
417,152 |
479,641 |
383,975 |
|
Domestic |
357,800 |
400,173 |
286,015 |
|
Total |
774,952 |
879,814 |
669,990 |
The Subject imports
from Australia, Peru and USA.
Court Action
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News Clipping
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.17 |
|
UK Pound |
1 |
Rs.80.64 |
|
Euro |
1 |
Rs.69.43 |
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 |
|
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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.