MIRA
INFORM REPORT
|
Report Date : |
03.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
HONEYWELL CO., LTD. |
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Registered Office : |
4th Fl., Sangam IT Tower 1590, Sangam-dong, Mapo-gu, Seoul, Korea 121-835 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
18.05.1984 |
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Com. Reg. No.: |
106-81-47904 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Manufacture of Electrical Apparatuses for Switching, Protecting and
Connecting Electrical Circuits Used in Power Distribution Systems |
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 |
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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
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Basic
|
Company Name |
HONEYWELL CO., LTD. (Korean Company Name : “한국하니웰(주)”) |
|
Registered Address |
1590, Sangam-dong, Mapo-gu, Seoul, Korea |
|
Building |
4th Fl., Sangam IT Tower |
|
Zip Code |
121-835 |
|
Tel |
+82-2-799-6114~5 |
|
Fax |
+82-2-792-9012 |
|
E-mail |
webmaster@honeywell.com |
|
Website |
www.honeywell.co.kr |
|
Trading Address |
4th Fl., Sangam IT Tower, 1590,
Sangam-dong, Mapo-gu, Seoul, Korea |
|
Tel |
+82-2-799-6114~5 |
|
Fax |
+82-2-792-9012 |
|
Other Address-Cheonan Factory |
56, Chaam-dong, Seobuk-gu, Cheonan-si,
Chungcheongnam-do, Korea |
|
Tel |
+82-41-559-4601 |
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Fax |
+82-41-559-4701 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Electrical Apparatuses for Switching, Protecting and
Connecting Electrical Circuits Used in Power Distribution Systems |
|
Main Business |
Switch, Building Automation Systems(BAS), Factory Automation Systems,
Sensor, Excel Energy Manager |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
05/18/1984 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Temperature regulators(41112205) |
|
Sell |
Humidity control(40101900) |
|
Sell |
Control unit(43201542) |
|
Sell |
Industrial control software(43232608) |
|
Sell |
Security or access control systems(46171619) |
|
Sell |
Facilities management software(43232603) |
|
Sell |
Control unit(43201542) |
|
Sell |
Lighting control systems(39121107) |
|
Sell |
Software or hardware engineering(81111500) |
|
Sell |
Speed sensors(41111921) |
|
Sell |
Control unit(43201542) |
|
Buy |
Liquid crystal display LCD panels or
monitors(43211902) |
|
Buy |
Light emitting diodes LEDs(32111503) |
|
Buy |
Bare printed circuit boards(32131010) |
|
Buy |
Connectors(31163100) |
|
Buy |
Housings and cabinets(31261500) |
|
Buy |
Motors(26101600) |
|
Buy |
Diodes(32111500) |
|
Buy |
Loudspeakers(52161512) |
|
Buy |
Resistors(32121600) |
|
Buy |
Capacitors(32121500) |
|
Buy |
Camera lenses or filters(45121603) |
|
Buy |
Metal shells or casings(31261602) |
|
Buy |
Transistors(32111600) |
CEO’s
|
Name |
Park Sung-Ho |
|
Address |
Suite 2-306, 241-21, Seobinggo-dong,
Yongsan-gu, Seoul, Korea |
|
Date of Birth |
09/16/1952 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
10,000,000,000 |
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Employees |
554 |
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Formation |
Co., Ltd by Shares Foreign Direct Investment Corporation |
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Bank Details |
Shinhan Bank-Yoido Sqaure Branch Hana Bank |
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Corporate Registered No. |
110111-0374663 |
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Business Registered No. |
106-81-47904 |
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Permit & Licenses |
12/1995 ISO 9001 11/1996 KT Mark 04/1997 KT Mark 05/1999 ISO 9002 07/15/2000 ISO 14001 08/2000 QS 9000 12/16/2000 ISO 9001 12/02/2002 KT Mark 2005 EM Mark Int’l Trade No.: 932886 |
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Shareholder Position |
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Company History |
05/18/1984 Incorporated as Gold Star Honeywell
Co., Ltd. 01/25/1995 Changed company name to LG
Honeywell Co., ltd. 04/16/1999 Changed company name to the
present name 04/16/1999 Increased the authorized shares
to 2, 000,000 shares from 1,000,000 shares 06/29/2009 Moved to the present HQ address
from 191, Hangangno 2-ga, Yongsan-gu, Seoul, Korea 10/28/2010 Decided to stop AOB Business |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Park Sung-Ho |
Male |
Korean |
11/26/2004 |
|
Director |
Mr. |
Gerard Willis |
Male |
USA |
05/29/2006 |
|
Director |
Mr. |
Michel Chi |
Male |
Singaporean |
11/26/2007 |
|
Director |
Mr. |
Choi Ki-Soon |
Male |
Korean |
05/18/2009 |
|
Auditor |
Mr. |
Choi Byung-Yeol |
Male |
Korean |
03/30/2004 |
|
Supervisor |
Mr. |
Lee Pyung-Ho |
Male |
Korean |
11/02/2006 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
249,775,724,286 |
150,499,839,748 |
19,999,971,049 |
|
|
2009 |
212,619,272,255 |
117,461,862,297 |
463,243,041 |
|
2008 |
295,981,022,145 |
173,754,669,213 |
11,327,399,733 |
|
2007 |
299,936,394,188 |
174,493,124,981 |
8,627,551,055 |
|
2006 |
270,013,248,910 |
166,597,294,793 |
18,944,085,473 |
Financial Description
|
Authorized Capital(KRW) |
20,000,000,000 |
|
Paid-Up Capital(KRW) |
10,000,000,000 |
|
Total Issues Shares |
1,000,000 |
Balance
Sheet
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
150,499,839,748 |
117,461,862,297 |
173,754,669,213 |
|
Current Assets |
127,106,995,083 |
91,048,785,045 |
146,859,942,180 |
|
-Quick Assets |
117,557,637,478 |
82,506,476,778 |
138,109,846,749 |
|
-Inventories |
9,549,357,605 |
8,542,308,267 |
8,750,095,431 |
|
Fixed Assets |
23,392,844,665 |
26,413,077,252 |
26,894,727,033 |
|
-Investment |
258,743,800 |
411,516,505 |
300,367,366 |
|
-Tangibles |
19,893,743,384 |
22,255,748,427 |
22,767,442,575 |
|
-Intangibles |
3,240,357,481 |
3,745,812,320 |
3,826,917,092 |
|
Total Liabilities |
79,216,708,015 |
66,233,659,266 |
62,925,933,822 |
|
Current Liabilities |
79,056,394,681 |
65,960,205,906 |
60,965,745,417 |
|
Fixed Liabilities |
160,313,334 |
273,453,360 |
1,960,188,405 |
|
Capital Stock |
10,000,000,000 |
10,000,000,000 |
10,000,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
61,291,949,481 |
41,291,978,432 |
100,828,735,391 |
|
Capital Adjustment |
-8,817,748 |
-63,775,401 |
- |
|
Total Equity |
71,283,131,733 |
51,228,203,031 |
110,828,735,391 |
|
Liab. & Shareholder’s Equity |
150,499,839,748 |
117,461,862,297 |
173,754,669,213 |
|
Current Liabilities |
79,056,394,681 |
65,960,205,906 |
60,965,745,417 |
|
Trade Payables |
45,650,201,730 |
44,113,157,148 |
43,363,982,358 |
|
Accrued Expenses |
4,830,691,252 |
4,481,892,917 |
3,559,915,219 |
|
Accrued Income Tax |
6,079,561,757 |
1,752,139,442 |
1,145,500,967 |
|
Advance Receipts |
14,027,217,201 |
10,925,414,897 |
10,221,432,777 |
|
Withholdings |
472,252,129 |
453,996,294 |
596,967,789 |
|
VAT Withhold |
1,365,894,108 |
852,146,878 |
- |
|
Provision for Refund |
55,053,823 |
60,923,074 |
37,187,147 |
|
Provision for Sales Guarantee |
2,822,248,258 |
3,082,692,195 |
1,979,872,487 |
|
Provision for Construction Losses |
31,955,912 |
95,757,141 |
60,886,673 |
|
Derivatives |
56,389,626 |
142,085,920 |
- |
|
Provisions for Stopped Business |
3,664,928,885 |
- |
- |
|
Fixed
Liabilities |
160,313,334 |
273,453,360 |
1,960,188,405 |
|
Long-Term Advance Receipts |
97,533,334 |
170,683,360 |
682,733,336 |
|
Guarantee Deposit Withhold |
62,780,000 |
102,770,000 |
352,300,000 |
Income
Statement
|
Unit :
Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
249,775,724,286 |
212,619,272,255 |
295,981,022,145 |
|
Cost
of Sold Goods |
196,387,585,022 |
174,504,177,528 |
233,628,244,389 |
|
Gross
Profit |
53,388,139,264 |
38,115,094,727 |
62,352,777,756 |
|
Selling
& Admin. Expenses |
32,542,611,059 |
37,718,767,605 |
45,456,783,134 |
|
Operating
Income |
20,845,528,205 |
396,327,122 |
16,895,994,622 |
|
Non-Operating
Income |
3,900,029,123 |
5,641,005,519 |
8,525,847,321 |
|
Non-Operating
Expenses |
3,747,858,867 |
4,280,953,684 |
8,238,636,895 |
|
Income
Before Taxes from Continues Business |
20,997,698,461 |
1,756,378,957 |
17,183,205,048 |
|
Income
Taxes from Continues Business |
5,374,186,147 |
4,784,823,279 |
5,855,805,315 |
|
Income
from Continues Business |
15,623,512,314 |
-3,028,444,322 |
- |
|
Income
from Stopped Business |
4,376,458,735 |
3,491,687,363 |
- |
|
Net
Income |
19,999,971,049 |
463,243,041 |
11,327,399,733 |
Cash
Flows
|
Unit :
Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows
from Operating |
27,220,190,934 |
26,333,254,380 |
2,259,616,227 |
|
-Net Income |
19,999,971,049 |
463,243,041 |
11,327,399,733 |
|
-Exp.
without Cash Outflow |
3,604,874,055 |
5,517,773,754 |
7,978,504,829 |
|
-Revenue
without Cash Inflows |
-732,430,017 |
-371,775,080 |
-863,707,799 |
|
-Changes in
Asset/ & Liability |
4,347,775,847 |
20,724,012,665 |
-16,182,580,536 |
|
Cash Flows
from Investing |
467,717,828 |
-2,044,245,334 |
-2,857,790,091 |
|
-Cash Inflow
from Investing |
1,816,955,161 |
1,368,660,486 |
441,922,916 |
|
-Cash
Outflows for Investing |
-1,349,237,333 |
-3,412,905,820 |
-3,299,713,007 |
|
Cash Flows
from Financing |
- |
-60,000,000,000 |
- |
|
-Cash
Inflows from Financing |
- |
- |
- |
|
-Cash Outflows
from Financing |
- |
-60,000,000,000 |
- |
|
Increase/Decrease
in Cash |
27,687,908,762 |
-35,710,990,954 |
-598,173,864 |
|
Cash at the
Beginning of Year |
14,326,440,054 |
50,037,431,008 |
50,635,604,872 |
|
Cash at the
End of Year |
42,014,348,816 |
14,326,440,054 |
50,037,431,008 |
Products, Technologies, Services Description
|
Main Products & Services |
Switch, Building Automation Systems(BAS), Factory Automation Systems,
Sensor, Excel Energy Manager |
Trade Partners & Competitors
|
Customers |
SSANGYONG MOTOR CO., LTD.(110111-0035132) |
|
Competitors |
ABB LTD. AFFOLTERNSTRASSE 44 PO BOX 8131 ZURICH,
8050 SWITZERLAND TEL:+41-43-3177111 FAX:+41-43-3174420 NISSIN ELECTRIC CO., LTD. 47, UMEZU-TAKASECHO, UKYO-KU KYOTO-SHI, KYT
615-8686 JAPAN TEL:+81-75-8613151 FAX:+81-75-8720742 TAKAOKA ELECTRIC MFG. CO., LTD. 1-7-1 IRIFUNE CHOU-KU, TKY 104-0042 JAPAN TEL:+81-3-42845700 LS INDUSTRIAL SYSTEMS CO.,
LTD.(110111-0520076) LS TOWER, 10FL., 1026-6, HOGYE 1-DONG,
DONGAN-GU, ANYANG-SI, GYEONGGI-DO, KOREA TEL:+82-1544-2080 FAX:+82-2-2034-4969 |
Related Parties
(Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
ADEMCO ASIA PACIFIC LIMITED HONEYWELL MIDDLE EAST FZE |
|
Corporate Ownership |
HONEYWELL INTERNATIONAL INC. HONEYWELL NORTH ATLANTIC HOLDINGS LIMITED |
|
Major Shareholders |
HONEYWELL NORTH ATLANTIC HOLDINGS LIMITED |
Sales by Region
(Activity &
Markets)
The Subject deals
with the companies in Australia, China, Japan, Middle East, Europe and South
America.
Court Action
No.
News Clipping
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.23 |
|
|
1 |
Rs.72.09 |
|
Euro |
1 |
Rs.62.98 |
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.