MIRA INFORM REPORT
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Report Date : |
08.09.2011 |
IDENTIFICATION DETAILS
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Name : |
GB INDUSTRIES CO., LTD. |
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Formerly Known As : |
GENERAL BREAKER CO., LTD |
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Registered Office : |
642-9, Gahyeon-ri, Tongjin-eup, Gimpo-si, Gyeonggi-do,
Korea, Zip Code 415-861 |
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Country : |
South korea |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
20.08.1998 |
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Com. Reg. No.: |
136-81-28500 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Manufacture of Civil Engineering and Similar Machine Equipment |
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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 : |
Usually Correct |
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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
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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 |
GB INDUSTRIES
CO., LTD. (Korean Company
Name : “(주)지비”) |
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Registered Address |
642-9, Gahyeon-ri, Tongjin-eup, Gimpo-si,
Gyeonggi-do, Korea |
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Zip Code |
415-861 |
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Tel |
+82-31-988-2206 |
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Fax |
+82-31-988-2208 |
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E-mail |
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Website |
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Trading Address |
642-9, Gahyeon-ri, Tongjin-eup, Gimpo-si,
Gyeonggi-do, Korea |
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Tel |
+82-31-988-2206 |
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Fax |
+82-31-988-2208 |
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Type |
Export/Import |
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Industry |
Manufacture of Civil Engineering and Similar Machine Equipment |
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Main Business |
Hydraulic Breaker, Crushers, Shears, Vibro Hammer, Core Drill, Quick
Coupler |
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Established (mm/dd/yyyy) |
08/20/1998 |
The Subject owns
the premises of registered HQ address.
Detailed Products
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Rock breakers(20101711) |
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Sell |
Clamps(31162900) |
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Buy |
Steel(11101704) |
CEO’s
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Name |
Jo Jae-Ryong |
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Address |
Suite 107-801, 437, Changjeon-dong,
Mapo-gu, Seoul, Korea |
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Date of Birth |
12/27/1952 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
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Capital (KRW) |
499,950,000 |
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Employees |
25 |
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Formation |
Co., Ltd by Shares Venture Business |
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Bank Details |
Industrial Bank of Korea-Gimpo Branch Kookmin Bank |
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Corporate Registered No. |
124411-0033928 |
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Business Registered No. |
136-81-28500 |
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Permit & Licenses |
Int’l Trade No.: 11574877 |
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Shareholder Position |
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Company History |
08/20/1998 Incorporated as GENERAL BREAKER CO., LTD. 12/2003 Awarded US$ 5 million Export Top Prize 03/31/2005 Changed company name to the present name 03/31/2007 Moved to the present HQ address from 793-11, Dosa-ri, Tongjin-eup, Gimpo-si, Gyeonggi-do, Korea 02/29/2008 Increased the authorized shares to
500,000 shares from 80,000 shares 03/01/2008 Increased capital to 499,950,000 KRW
from 300,000,000 KRW 03/09/2008 Designated as a Venture Business 03/09/2009 Designated as a Venture Business
again |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
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Representative Director |
Mr. |
Jo Jae-Ryong |
Male |
Korean |
03/31/2001 |
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Auditor |
M/S. |
Lee Jung-Nyeo |
Female |
Korean |
03/31/2007 |
Financials
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Year / Unit : KRW |
Sales |
Assets |
Net Income |
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15,309,163,265 |
17,130,731,861 |
-393,275,016 |
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2009 |
13,040,875,051 |
13,723,260,228 |
11,328,355 |
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2008 |
15,140,844,385 |
11,773,687,923 |
1,446,095,671 |
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2007 |
10,871,227,107 |
10,096,531,735 |
532,215,670 |
Financial Description
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Authorized Capital(KRW) |
2,500,000,000 |
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Paid-Up Capital(KRW) |
499,950,000 |
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Total Issues Shares |
99,990 |
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 |
17,130,731,861 |
13,723,260,228 |
11,773,687,923 |
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Current Assets |
11,056,221,338 |
8,489,264,413 |
8,405,075,772 |
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-Quick Assets |
7,353,509,690 |
5,749,201,878 |
5,306,381,935 |
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-Inventories |
3,702,711,648 |
2,740,062,535 |
3,098,693,837 |
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Fixed Assets |
6,074,510,523 |
5,233,995,815 |
3,368,612,151 |
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-Investment |
2,329,900,567 |
2,175,574,888 |
727,368,245 |
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-Tangibles |
3,594,106,408 |
2,905,152,145 |
2,524,413,522 |
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-Intangibles |
6,208,568 |
4,820,332 |
3,960,384 |
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-Others |
144,294,980 |
148,448,450 |
112,870,000 |
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Total Liabilities |
13,825,849,029 |
10,025,043,971 |
7,805,914,715 |
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Current Liabilities |
11,685,498,615 |
7,634,273,370 |
6,575,131,751 |
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Fixed Liabilities |
2,140,350,414 |
2,390,770,601 |
1,230,782,964 |
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Capital Stock |
499,950,000 |
499,950,000 |
499,950,000 |
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Capital Surplus |
- |
- |
- |
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Profit Surplus |
2,704,046,854 |
3,097,321,870 |
3,287,369,275 |
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Capital Adjustment |
100,885,978 |
100,944,387 |
180,453,933 |
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Total Equity |
3,304,882,832 |
3,698,216,257 |
3,967,773,208 |
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Liab. & Shareholder’s Equity |
17,130,731,861 |
13,723,260,228 |
11,773,687,923 |
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Current Liabilities |
11,685,498,615 |
7,634,273,370 |
6,575,131,751 |
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Trade Payables |
3,246,841,543 |
1,677,219,265 |
1,270,089,892 |
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Short-Term Borrowings |
6,263,598,571 |
4,626,378,917 |
779,857,562 |
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Current Portion of Long-Term Debts |
218,160,000 |
341,200,000 |
3,485,380,000 |
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Account Payables |
- |
57,380,000 |
44,210,000 |
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Accrued Expenses |
1,325,486,057 |
823,855,549 |
556,811,372 |
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Accrued Income Tax |
- |
11,314,220 |
204,876,200 |
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Advance Receipts |
87,381,684 |
69,343,109 |
159,382,583 |
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Withholdings |
41,394,950 |
21,266,500 |
17,145,480 |
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Short-Term Borrowings to Shareholders/ Executives/ Employees |
502,635,810 |
6,315,810 |
57,378,662 |
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Fixed Liabilities |
2,140,350,414 |
2,390,770,601 |
1,230,782,964 |
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Debentures |
500,000,000 |
- |
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Long-Term Borrowings |
1,168,080,000 |
1,873,420,000 |
914,620,000 |
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Provision for Severance & Retirement |
638,501,409 |
611,235,699 |
405,983,832 |
Income Statement
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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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Sales |
15,309,163,265 |
13,040,875,051 |
15,140,844,385 |
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Cost of Sold Goods |
12,303,506,072 |
9,929,505,933 |
12,178,260,128 |
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Gross Profit |
3,005,657,193 |
3,111,369,118 |
2,962,584,257 |
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Selling & Admin. Expenses |
2,894,679,240 |
2,548,918,165 |
1,914,752,058 |
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Operating Income |
110,977,953 |
562,450,953 |
1,047,832,199 |
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Non-Operating Income |
325,950,631 |
640,143,098 |
1,128,014,101 |
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Non-Operating Expenses |
954,660,025 |
1,066,809,266 |
444,426,909 |
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Income Before Taxes |
-517,731,441 |
135,784,785 |
1,731,419,391 |
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Income Taxes Expenses |
-124,456,425 |
124,456,430 |
285,323,720 |
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Net Income |
-393,275,016 |
11,328,355 |
1,446,095,671 |
Cash Flows
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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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Cash Flows from Operating |
-856,486,749 |
110,847,435 |
196,539,085 |
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-Net Income |
-393,275,016 |
11,328,355 |
1,446,095,671 |
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-Exp. without Cash Outflow |
562,917,165 |
706,787,849 |
- |
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-Revenue without Cash Inflows |
-13,447,322 |
-395,841,687 |
-508,332,876 |
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-Changes in
Asset/ & Liability |
-1,012,681,576 |
-211,427,082 |
-1,116,600,139 |
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Cash Flows
from Investing |
-1,027,401,159 |
-1,227,695,574 |
-694,921,188 |
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-Cash Inflow
from Investing |
968,182,512 |
949,190,080 |
9,408,424,507 |
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-Cash
Outflows for Investing |
-1,995,583,671 |
-2,176,885,654 |
-10,103,345,695 |
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Cash Flows
from Financing |
1,308,839,654 |
1,461,161,355 |
728,816,627 |
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-Cash
Inflows from Financing |
3,257,219,654 |
2,246,521,355 |
928,181,719 |
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-Cash
Outflows from Financing |
-1,948,380,000 |
-785,360,000 |
-199,365,092 |
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Increase/Decrease
in Cash |
-575,048,254 |
344,313,216 |
230,434,524 |
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Cash at the
Beginning of Year |
578,170,380 |
233,857,164 |
3,422,640 |
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Cash at the End of Year |
3,122,126 |
578,170,380 |
233,857,164 |
Products, Technologies, Services Description
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Main Products & Services |
Hydraulic Breaker, Crushers, Shears, Vibro Hammer, Core Drill, Quick
Coupler |
Trade Partners & Competitors
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Competitors |
EVERDIGM
CORP. 332-3,
JANGGWAN-RI, JINCHEON-EUP, JINCHEON-GUN, CHUNGCHEONGBUK-DO, KOREA TEL:+82-43-530-3300 FAX:+82-43-530-3318 DAEMO ENGINEERING CO., LTD. 2BA-515,
SIHWA INDUSTRIAL COMPLEX, 2178-5, JEONGWANG 2-DONG, SIHEUNG-SI, GYEONGGI-DO,
KOREA TEL:+82-31-488-6011 FAX:+82-31-496-0067 MSB
CORPORATION 123B-4L,
NAMDONG INDUSTRIAL COMPLEX, 693-3, GOJAN-DONG, NAMDONG-GU, INCHEON, KOREA TEL:+82-32-821-6980~3 FAX:+82-32-818-1698 |
Related Parties
(Subsidiaries,
Joint-Venture & Affiliates)
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Affiliates |
GB SHANGHAI MACHINERY CO. (100.0% held by the subject company) |
Sales by Region
(Activity &
Markets)
Not Available.
Court Action
No.
News Clipping
---
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.02 |
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UK Pound |
1 |
Rs.73.61 |
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Euro |
1 |
Rs.64.78 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<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.