MIRA INFORM REPORT
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Report Date : |
03.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
MACQUARIE FINANCE KOREA CO., LTD. |
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|
|
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Formerly Known As : |
MACQUARIE IT
KOREA CO., LTD. |
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|
|
|
Registered Office : |
110, Sogong-dong, Jung-gu, Seoul, Korea, 8th Fl., Sogongdong Hanwha
Bldg., Zip Code 100-755 |
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|
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Country : |
South Korea |
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|
|
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
30.096.2000 |
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Com. Reg. No.: |
106-81-94256 |
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|
|
Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Renting of Computers and Office Equipment |
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 : |
Usually Correct |
|
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 |
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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
|
Company Name |
MACQUARIE
FINANCE KOREA CO., LTD. (Korean Company
Name : “맥쿼리파이낸스코리아(주)”) |
|
Registered Address |
110, Sogong-dong, Jung-gu, Seoul, Korea |
|
Building |
8th Fl., Sogongdong Hanwha Bldg. |
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Zip Code |
100-755 |
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Tel |
+82-2-3705-8500 |
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Fax |
+82-2-3705-8585 |
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E-mail |
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|
Website |
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Trading Address |
8th Fl., Sogongdong Hanwha Bldg., 110,
Sogong-dong, Jung-gu, Seoul, Korea |
|
Tel |
+82-2-3705-8500 |
|
Fax |
+82-2-3705-8585 |
|
Type |
Services |
|
Industry |
Renting of Computers and Office Equipment |
|
Main Business |
Asset Management Services, Finance
Consulting Services, Equipment Leasing Services |
|
Established (mm/dd/yyyy) |
09/30/2000 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Asset Management Services |
|
Sell |
Finance Consulting Services |
|
Sell |
Equipment Leasing Services |
CEO’s
|
Name |
Niall Morrissey |
|
Address |
8th Fl., Sogongdong Hanwha Bldg., 110, Sogong-dong, Jung-gu, Seoul,
Korea |
|
Date of Birth |
09/21/1962 |
|
Title |
Co-President & CEO |
|
Sex |
Male |
|
Nationality |
Australian |
Profiles
|
Capital (KRW) |
24,864,050,000 |
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Employees |
20 |
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Formation |
Co., Ltd by Shares Foreign Direct Investment Corporation |
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Bank Details |
Citibank, Korea-GC & T Team |
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Corporate Registered No. |
110111-2080854 |
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Business Registered No. |
106-81-94256 |
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Permit & Licenses |
N/A |
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Shareholder Position |
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Company
History |
09/30/2000
Incorporated as MACQUARIE IT KOREA CO., LTD. 10/04/2000
Designated as a Foreign Direct Investment Corporation 05/20/2002 Increased the authorized shares
to 10,000,000 shares from 100,000 shares 08/28/2002 Changed company name to Foreign
Direct Investment Corporation Capital Korea co., Ltd. 12/01/2006 Moved to the present HQ address
from 9th Fl., Sogongdong Hanwha Bldg., 110, Sogong-dong, Jung-gu, Seoul,
Korea 10/14/2008 Changed company name to the
present name 02/04/2010 Increased capital to
24,864,050,000 KRW from 11,214,050,000 KRW |
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Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Co-President & CEO |
Mr. |
Niall Morrissey |
Male |
Australian |
09/22/2010 |
|
Co-President & CEO |
Mr. |
Ha Hyung-Il |
Male |
Korean |
06/25/2009 |
|
Director |
Mr. |
James Speisal |
Male |
Australian |
11/26/2007 |
|
Auditor |
Mr. |
Han Kyung |
Male |
Korean |
06/27/2008 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
47,727,402,531 |
139,832,158,453 |
16,985,341,490 |
|
|
03/2010 |
44,058,548,589 |
133,930,450,462 |
35,404,509,673 |
|
03/2009 |
58,296,968,614 |
122,409,588,719 |
-2,371,325,792 |
|
03/2008 |
57,494,708,557 |
108,604,186,100 |
-6165209390 |
|
03/2007 |
117,770,785,121 |
109,405,798,427 |
-22,619,934,453 |
Financial Description
|
Authorized Capital(KRW) |
50,000,000,000 |
|
Paid-Up Capital(KRW) |
24,864,050,000 |
|
Total Issues Shares |
4,972,810 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 03/31/2011 |
As of 03/31/2010 |
As of 03/31/2009 |
|
Total Assets |
139,832,158,453 |
133,930,450,462 |
122,409,588,719 |
|
Current Assets |
63,708,234,624 |
46,260,032,478 |
15,995,888,999 |
|
-Quick Assets |
63,708,234,624 |
46,260,032,478 |
15,995,888,999 |
|
-Inventories |
76,123,923,829 |
87,670,417,984 |
106,413,699,720 |
|
Fixed Assets |
23,874,151,314 |
35,514,473,717 |
29,841,148,818 |
|
-Investment |
7,854,240,104 |
15,507,655,529 |
28,345,348,302 |
|
-Tangibles |
44,395,532,411 |
36,648,288,738 |
48,227,202,600 |
|
-Intangibles |
95,450,155,248 |
106,709,598,163 |
144,513,362,903 |
|
Total Liabilities |
54,464,646,091 |
67,293,677,041 |
75,664,372,703 |
|
Current Liabilities |
40,985,509,157 |
39,415,921,122 |
68,848,990,200 |
|
Fixed Liabilities |
24,864,050,000 |
24,864,050,000 |
11,214,050,000 |
|
Capital Stock |
717,150,481 |
541,341,065 |
205,704,255 |
|
Capital Surplus |
18,800,802,724 |
1,969,839,554 |
-33,434,670,119 |
|
Profit Surplus |
- |
-154,378,320 |
(88,858,320) |
|
Capital Adjustment |
44,382,003,205 |
27,220,852,299 |
-22,103,774,184 |
|
Total Equity |
139,832,158,453 |
133,930,450,462 |
122,409,588,719 |
|
Liab. &
Shareholder’s Equity |
139,832,158,453 |
133,930,450,462 |
122,409,588,719 |
|
Current Liabilities |
54,464,646,091 |
67,293,677,041 |
75,664,372,703 |
|
Trade Payables |
8,845,942,285 |
38,635,482,793 |
41,164,250,838 |
|
Accrued Expenses |
2,272,554,691 |
1,048,883,764 |
572,037,300 |
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Withholdings |
311,396,452 |
310,750,041 |
180,537,422 |
|
Advance Receipts |
15,542,627,390 |
592,383,402 |
388,745,122 |
|
VAT Withhold |
1,766,219,492 |
1,747,571,170 |
3,235,960,255 |
|
Accrued Income Tax |
2,894,465,707 |
- |
|
|
Derivatives |
|
|
2,304,721,814 |
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Current Portion of Long-Term Debts |
22,831,440,074 |
24,958,605,871 |
27,818,119,952 |
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Fixed
Liabilities |
40,985,509,157 |
39,415,921,122 |
68,848,990,200 |
|
Long-Term Borrowings |
38,843,102,502 |
36,941,912,338 |
66,027,480,711 |
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Long-Term Accrued Expenses |
143,906,655 |
221,874,466 |
636,766,441 |
|
Provision for Severance & Retirement |
- |
253,634,318 |
146,243,048 |
|
Guarantee Deposit Withhold |
1,998,500,000 |
1,998,500,000 |
2,038,500,000 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of 03/31/2011 |
As of 03/31/2010 |
As of 03/31/2009 |
|
Revenues |
47,727,402,531 |
44,058,548,589 |
58,296,968,614 |
|
Operating Expenses |
18,378,800,802 |
22,290,863,112 |
34,983,445,017 |
|
Operating Income |
29,348,601,729 |
21,767,685,477 |
23,313,523,597 |
|
Non-Operating Income |
3,115,443,174 |
19,880,670,297 |
13,135,999,051 |
|
Non-Operating Expenses |
14,123,317,890 |
6,243,846,101 |
36,108,387,960 |
|
Income Before Taxes |
18,340,727,013 |
35,404,509,673 |
341,134,688 |
|
Income Taxes Expenses |
1,355,385,523 |
- |
2,712,460,480 |
|
Net Income |
16,985,341,490 |
35,404,509,673 |
-2,371,325,792 |
Cash
Flows
|
|||
|
Unit : Korean Won |
As of 03/31/2011 |
As of 03/31/2010 |
As of 03/31/2009 |
|
Cash Flows from Operating |
-7,389,178,116 |
23,504,366,103 |
7,200,355,447 |
|
-Net Income |
16,985,341,490 |
35,404,509,673 |
-2,371,325,792 |
|
-Exp. without Cash Outflow |
19,190,639,343 |
16,052,303,295 |
56,049,545,279 |
|
-Revenue without Cash Inflows |
-16,230,365,993 |
-14,786,608,995 |
-12,825,679,654 |
|
-Changes in Asset/ & Liability |
-27,334,792,956 |
-13,165,837,870 |
-33,652,184,386 |
|
Cash Flows from Investing |
14,340,078,902 |
1,686,632,352 |
324,928,364 |
|
-Cash Inflow from Investing |
14,360,528,395 |
1,714,357,223 |
338,225,364 |
|
-Cash Outflows for Investing |
(20,449,493) |
-27,724,871 |
-13,297,000 |
|
Cash Flows from Financing |
283,049,606 |
-13,400,726,521 |
-12,948,830,338 |
|
-Cash Inflows from Financing |
24,741,655,477 |
24,087,332,660 |
49,246,354,805 |
|
-Cash Outflows from Financing |
-24,458,605,871 |
-37,488,059,181 |
-62,195,185,143 |
|
Increase/Decrease in Cash |
7,233,950,392 |
11,790,271,934 |
-5,423,546,527 |
|
Cash at the Beginning of Year |
15,997,468,125 |
4,207,196,191 |
9,630,742,718 |
|
Cash at the End of Year |
23,231,418,517 |
15,997,468,125 |
4,207,196,191 |
Products, Technologies, Services Description
|
Main Products & Services |
Asset Management Services, Finance
Consulting Services, Equipment Leasing Services |
Trade Partners & Competitors
|
Competitors |
AJU RENTAL CORPORATION 9TH FL., ACE HIGH AND TOWER 1-CHA, 235-2,
GURO 3-DONG, GURO-GU, SEOUL, KOREA TEL:+82-2-6363-9999 FAX:+82-2-6363-9900 SHINHAN CARD CO., LTD. POST
TOWER, 21, CHUNGMURO 1-GA, JUNG-GU, SEOUL, KOREA TEL:+82-2-6950-1002 FAX:+82-2-6950-1011 WOORI FINANCIAL CO., LTD. 1122-12, INGYE-DONG, PALDAL-GU, SUWON-SI,
GYEONGGI-DO, KOREA TEL:+82-31-220-8000 FAX:+82-31-220-8188 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
MACQUARIE FINANCIAL HOLDINGS LIMITED MACQUARIE BANK LIMITED MACQUARIE SERVICES (HK) LIMITED MACQUARIE ELECTRONICS LIMITED |
|
Corporate Ownership |
MACQUARIE GROUP LIMITED No.1 Martin Place Sydney NSW 2000 Australia |
|
Major Shareholders |
MACQUARIE GROUP LIMITED |
|
Cooperative Enterprise |
-Services Agreement MACQUARIE BANK LIMITED MACQUARIE SECURITIES KOREA LIMITED MACQUARIE INTERNATIONAL LIMITED, SEOUL BRANCH |
Sales by Region
(Activity & Markets)
The Subject deals
with the companies in Hong Kong and Australia.
Court Action
No.
News Clipping
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.93 |
|
UK Pound |
1 |
Rs.76.52 |
|
Euro |
1 |
Rs.66.65 |
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.