MIRA
INFORM REPORT
|
Report Date : |
24.10.2011 |
IDENTIFICATION
DETAILS
|
Name : |
HANTECH LTD |
|
|
|
|
Registered Office : |
190, Yeocheon-Dong, Nam-Gu, Ulsan, Korea |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
09.10.1998 |
|
|
|
|
Com. Reg. No.: |
230111-0052355 |
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|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Manufacture of Distilling Machinery, Heat exchange unit
and Gas Generators |
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 |
|
Maximum Credit Limit : |
-- |
|
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Basic Information
|
Company
Name |
HANTECH LTD. (Korean Company Name : “(주)한텍”) |
|
Registered Address |
190, Yeocheon-dong, Nam-gu, Ulsan, Korea |
|
Building |
Samsung Fine Chemicals Co., Ltd. |
|
Zip Code |
680-090 |
|
Tel |
+82-52-270-3900 |
|
Fax |
+82-52-270-3803 |
|
E-mail |
youngjoo@hantechltd.com |
|
Website |
www.hantechltd.com |
|
Trading Address |
Samsung Fine Chemicals Co., Ltd., 190, Yeocheon-dong,
Nam-gu, Ulsan, Korea |
|
Tel |
+82-52-270-3811~5 |
|
Fax |
+82-52-270-3801~2 |
|
Other Address-Seoul Office |
8FL., Hanhwa Bldg., 34, Seosomun-dong, Jung-gu, Seoul,
Korea |
|
Tel |
+82-2-752-0701 |
|
Fax |
+82-2-752-0702 |
|
Other Address-Branch |
1234, Wonsan-ri,
Onsan-eup, Ulju-gun, Ulsan, Korea |
|
Type |
Export/Import |
|
Industry |
Manufacture of Distilling Machinery, Heat exchange unit
and Gas Generators |
|
Main Business |
Heat Exchangers, Reactor, Spherical Tank, Storage Tank,
Cryogenic Equipment |
|
Established (mm/dd/yyyy) |
10/09/1998 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Reactors(39121015) |
|
Sell |
Heat exchangers(40101802) |
|
Sell |
Air or gas tanks or cylinders(24111802) |
|
Sell |
Storage tanks(24111803) |
|
Buy |
Steel(11101704) |
|
Buy |
Nuts(31161700) |
|
Buy |
Bolts(31161600) |
|
Buy |
Steel plate(30102204) |
|
Buy |
Non ferrous alloy(11101711) |
|
Buy |
Glass fibers(11151512) |
|
Buy |
Steel(11101704) |
|
Buy |
Indicating and recording instruments(41111900) |
|
Buy |
Stud bolts(31161619) |
CEO’s
|
Name |
Kim Eung-Sung |
|
Address |
Suite 210-2402, 330-2, Maegok-dong, Buk-gu, Ulsan, Korea |
|
Date of Birth |
11/09/1952 |
|
Title |
Co-President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
17,457,988,000 |
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|
Employees |
122 |
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|
Formation |
Co., Ltd by shares Venture Business A Company of FOOSUNG GROUP |
||||||||||||||||||
|
Bank Details |
Shinhan Bank Kookmin Bank Industrila Bank of Korea-Ulsan
Branch |
||||||||||||||||||
|
Corporate Registered No. |
230111-0052355 |
||||||||||||||||||
|
Business Registered No. |
610-81-33200 |
||||||||||||||||||
|
Permit & Licenses |
05/1999 ISO 9001 Int’l Trade No.: 17001195 |
||||||||||||||||||
|
Shareholder Position |
(*)The above list is based as
of 01/2011. |
||||||||||||||||||
|
Company History |
10/09/1998 Incorporate as the
present name form spinning off from SAMSUNG FINE CHEMICALS CO., LTD.(181211-0000013) 11/15/2002 Designated as a
Venture Business 11/2003 Awarded US$10 Million
Export Top Prize 12/22/2004 Designated as a
Venture Business again 11/2006 Awarded US$50 Million
Export Top Prize 03/30/2007 Spin off the par
value to 500 KRW from 10,000 KRW 03/30/2007 Increased the
authorized shares to 20,000,000 shares from 400,000 shares 11/2007 Designated as an
INNO-BIZ Company 05/01/2008 Increased capital to
2,000,000,000 KRW from 1,000,000,000 KRW 08/02/2008 Increased capital to
4,000,000,000 KRW from 2,000,000,000 KRW 07/06/2011 Increased capital to
17,457,988,000 KRW from 4,000,000,000 KRW |
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Co-President & CEO |
Mr. |
Kim Eung-Sung |
Male |
Korean |
03/25/2011 |
|
Co-President & CEO |
Mr. |
Kim Keun-Soo |
Male |
Korean |
01/25/2011 |
|
Director |
Mr. |
Kim Sang-Kyu |
Male |
Korean |
03/25/2002 |
|
Director |
Mr. |
Lee Ki-Cheon |
Male |
Korean |
01/25/2011 |
|
Auditor |
Mr. |
Sun Kyung-Joong |
Male |
Korean |
01/25/2011 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
100,673,152,119 |
105,726,431,957 |
-7,172,277,465 |
|
|
2009 |
143,829,044,383 |
117,577,476,693 |
6,905,952,885 |
|
2008 |
183,013,081,096 |
121,388,753,605 |
11,845,020,266 |
|
2007 |
126,209,022,182 |
74,189,432,135 |
7,300,903,019 |
|
2006 |
105,433,244,466 |
61,527,164,463 |
6,505,909,998 |
|
2005 |
82,526,420,767 |
51,241,295,322 |
3,579,274,253 |
|
2004 |
51,918,044,582 |
36,658,505,523 |
2,333,085,071 |
Financial Description
|
Authorized Capital(KRW) |
50,000, 000,000 |
|
Paid-Up Capital(KRW) |
17,457,988,000 |
|
Total Issues Shares |
34,915,976 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
105,726,431,957 |
117,577,476,693 |
121,388,753,605 |
|
Current Assets |
84,518,002,052 |
101,936,191,720 |
106,594,897,712 |
|
-Quick Assets |
76,554,617,840 |
92,129,204,515 |
96,324,819,474 |
|
-Inventories |
7,963,384,212 |
9,806,987,205 |
10,270,078,238 |
|
Fixed Assets |
21,208,429,905 |
15,641,284,973 |
14,793,855,893 |
|
-Investment |
3,822,293,978 |
1,537,961,505 |
2,365,125,147 |
|
-Tangibles |
14,979,382,438 |
13,516,832,632 |
11,867,400,228 |
|
-Intangibles |
233,935,688 |
232,437,755 |
210,174,310 |
|
-Others |
2,172,817,801 |
354,053,081 |
351,156,208 |
|
Total Liabilities |
60,949,834,806 |
65,334,509,759 |
75,658,393,401 |
|
Current Liabilities |
53,396,797,128 |
60,414,136,878 |
69,161,509,501 |
|
Fixed Liabilities |
7,553,037,678 |
4,920,372,881 |
6,496,883,900 |
|
Capital Stock |
4,000,000,000 |
4,000,000,000 |
4,000,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
40,662,760,285 |
48,235,037,750 |
41,729,084,865 |
|
Capital Adjustment |
113,836,866 |
7,929,184 |
1,275,339 |
|
Total Equity |
44,776,597,151 |
52,242,966,934 |
45,730,360,204 |
|
Liab. & Shareholder’s
Equity |
105,726,431,957 |
117,577,476,693 |
121,388,753,605 |
|
Current Liabilities |
53,396,797,128 |
60,414,136,878 |
69,161,509,501 |
|
Trade Payables |
12,065,563,443 |
8,578,662,383 |
11,262,946,568 |
|
Short-Term Borrowings |
32,015,917,781 |
42,761,500,000 |
27,579,000,000 |
|
Account Payables |
3,272,365,322 |
3,865,242,940 |
2,117,153,152 |
|
Advance Receipts |
3,076,830,828 |
3,001,386,054 |
4,641,275,900 |
|
Withholdings |
353,735,710 |
608,770,130 |
697,485,786 |
|
Accrued Expenses |
56,207,914 |
68,470,702 |
64,844,314 |
|
Accrued Income Tax |
|
|
4,699,261,676 |
|
Current Portion of Long-Term Debts |
1,545,180,000 |
834,540,000 |
828,120,000 |
|
Provision for Construction Loss |
661,910,095 |
673,287,423 |
- |
|
Derivatives |
349,086,035 |
22,277,246 |
17,271,422,105 |
|
Fixed Liabilities |
7,553,037,678 |
4,920,372,881 |
6,496,883,900 |
|
Long-Term Borrowings |
7,330,880,000 |
4,395,660,000 |
5,230,200,000 |
|
Provision for Severance & Retirement |
3,258,266,000 |
3,354,864,000 |
3,483,523,000 |
|
Provision for Construction Loss |
87,155,961 |
502,443,063 |
566,865,503 |
|
Non-Current Portion of Deferred Income Tax Credit |
|
|
159,272,432 |
|
Derivatives |
135,001,717 |
22,269,818 |
540,545,965 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
100,673,152,119 |
143,829,044,383 |
183,013,081,096 |
|
Cost of Sold Goods |
96,402,879,849 |
108,287,960,205 |
124,652,825,306 |
|
Gross Profit |
4,270,272,270 |
35,541,084,178 |
58,360,255,790 |
|
Selling & Admin. Expenses |
14,370,177,814 |
10,056,454,212 |
10,768,675,984 |
|
Operating Income |
-10,099,905,544 |
25,484,629,966 |
47,591,579,806 |
|
Non-Operating Income |
15,744,213,865 |
23,181,280,324 |
41,351,775,210 |
|
Non-Operating Expenses |
16,450,993,997 |
39,400,152,979 |
74,448,691,652 |
|
Income Before Taxes |
-10,806,685,676 |
9,265,757,311 |
14,494,663,364 |
|
Income Taxes Expenses |
-3,634,408,211 |
2,359,804,426 |
2,649,643,098 |
|
Net Income |
-7,172,277,465 |
6,905,952,885 |
11,845,020,266 |
Cash
Flows
|
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows from Operating |
-8,493,746,221 |
31,947,012,375 |
8,084,412,505 |
|
-Net Income |
-7,172,277,465 |
6,905,952,885 |
11,845,020,266 |
|
-Exp. without Cash Outflow |
13,982,312,677 |
12,324,947,694 |
41,772,497,005 |
|
-Revenue without Cash Inflows |
-8,107,929,924 |
-8,462,065,357 |
-9,528,378,069 |
|
-Changes in Asset/ &
Liability |
-7,195,851,509 |
21,178,177,153 |
-36,004,726,697 |
|
Cash Flows from Investing |
5,740,650,312 |
-25,731,198,951 |
-28,242,566,535 |
|
-Cash Inflow from Investing |
29,551,804,076 |
6,862,455,117 |
4,463,861,150 |
|
-Cash Outflows for Investing |
-23,811,153,764 |
-32,593,654,068 |
-32,706,427,685 |
|
Cash Flows from Financing |
-7,317,742,219 |
13,954,380,000 |
17,864,560,000 |
|
-Cash Inflows from Financing |
4,480,400,000 |
15,182,500,000 |
19,313,700,000 |
|
-Cash Outflows from Financing |
-11,798,142,219 |
-1,228,120,000 |
-1,449,140,000 |
|
Increase/Decrease in Cash |
-10,070,838,128 |
20,170,193,424 |
-2,293,594,030 |
|
Cash at the Beginning of Year |
24,197,181,452 |
4,026,988,028 |
6,320,582,058 |
|
Cash at the End of Year |
14,126,343,324 |
24,197,181,452 |
4,026,988,028 |
Products, Technologies, Services Description
|
Main Products & Services |
Special material Equipment Chemical Equipment Cryogenic Equipment Storage Tank |
Trade Partners & Competitors
|
Customers |
SAMSUNG FINE
CHEMICALS CO., LTD.(181211-0000013) DAELIM INDUSTRIAL CO., LTD.(110111-0084915) POSCO ENGINEERING & CONSTRUCTION CO.,
LTD.(174611-0002979) GS ENGINEERING & CONSTRUCTION CORP(110111-0002694) S-OIL CORPORATION(110111-0189955) CHISSO ENGINEERING CO., LTD. COSMO ENGINEERING CO., LTD. KUREHA CHEMICAL INDUSTRY CO.,
LTD. MITSUBISHI HEAVY INDUSTRIES
LTD. SUMITOMO CHEMICAL ENGINEERING
CO., LTD. TOYO ENGINEERING CORPORATION |
|
Competitors |
DOOSAN MECATEC CO., LTD. 64, SINCHON-DONG, CHANGWON-SI,
GYEONGSANGNAM-DO, KOREA TEL:+82-55-279-5555 FAX:+82-55-279-5777 SUNG JIN GEOTEC CO., LTD. 20-1, SEONGAM-DONG, NAM-GU,
ULSAN, KOREA TEL:+82-52-228-5801 FAX:+82-52-228-5989 SEWON CELLONTECH CO., LTD. 11TH FL., GOOD MORNING SHINHAN
SECURITIES BLDG., 23-2, YEOEUIDO-DONG, YEONGDEUNGPO-GU, SEOUL, KOREA TEL:+82-2-2167-9000 FAX:+82-2-2167-9157 |
Related Parties (Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
FOOSUNG HDS CO., LTD.(181211-0003091) FOOSUNG CO., LTD.(131411-0189425) KOREA REFRACTORIES CO.,
LTD.(184611-0000319) FOOSUNG INDUSTRIAL CO.,
LTD.(154511-0000812) FOOSUNG PRECISION IND. CO.,
LTD.(134811-0023854) IL KWANG INDUSTRIAL CO.,
LTD.(110111-0003353) FOOSUNG TECH
CORP.(135811-0107392) FIRSTEC CO.,
LTD.(194211-0000133) KOREA ENVIRONMENT TECHNOLOGY
CO., LTD.(181211-0024485) YONGSHIN ENVIRONMENT
DEVELOPMENT CO., LTD.(230111-0096931) |
|
Cooperative Enterprise |
-Insured Company SAMSUNG FIRE & MARINE INSURANCE CO.,
LTD.(110111-0005078) -Technical Support from OPENSO(USA) |
Sales by Region (Activity &
Markets)
The Subject deals with the
companies in China, India, Japan, Thailand, USA and Europe.
Court Action
No.
News Clipping
--
FOREIGN
EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.07 |
|
|
1 |
Rs.79.15 |
|
Euro |
1 |
Rs.69.03 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.