MIRA INFORM REPORT
|
Report Date : |
14.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
SEOUL BIO CO., LTD. |
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|
|
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Registered Office : |
946-2, Munchon-ri, Gamgok-myeon, Eumseong-gun, Chungcheongbuk-do,
Korea, Zip Code 369-852 |
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|
|
Country : |
South Korea |
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|
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Financials (as on) : |
30.06.2010 |
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Date of Incorporation : |
15.10.1993 |
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Com. Reg. No.: |
303-81-09442 |
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Legal Form : |
Co., Ltd by shares |
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Line of Business : |
Manufacture of Composite Fertilizers |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
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Payment
Behaviour : |
Unknown |
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|
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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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Basic
|
Company Name |
SEOUL BIO CO.,
LTD. (Korean Company
Name : “(주)서울바이오”) |
|
Registered Address |
946-2, Munchon-ri, Gamgok-myeon,
Eumseong-gun, Chungcheongbuk-do, Korea |
|
Zip Code |
369-852 |
|
Tel |
+82-43-881-3700 |
|
Fax |
+82-43-881-0023 |
|
E-mail |
|
|
Website |
|
|
Trading Address |
946-2, Munchon-ri, Gamgok-myeon,
Eumseong-gun, Chungcheongbuk-do, Korea |
|
Tel |
+82-43-881-3700 |
|
Fax |
+82-43-881-0023 |
|
Other Address-Suncheon Factory |
590, Bongdeok-ri, Seungju-eup, Suncheon-si,
Jeollanam-do, Korea |
|
Tel |
+82-61-751-9220 |
|
Fax |
+82-61-751-9020 |
|
Other Address-R&D Center |
958, Munchon-ri, Gamgok-myeon, Eumseong-gun,
Chungcheongbuk-do, Korea |
|
Type |
Export/Import |
|
Industry |
Manufacture of Composite Fertilizers |
|
Main Business |
Fertilizer |
|
Established (mm/dd/yyyy) |
10/15/1993 |
The Subject owns
the premises of registered HQ address(14,579㎡) and Suncheon Factory(11,980㎡).
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Fertilizers and plant nutrients and
herbicides(10170000) |
|
Sell |
Soil(11111501) |
|
Sell |
Organic fertilizers and plant
nutrients(10171500) |
|
Sell |
Topsoil(11111503) |
CEO’s
|
Name |
Ku Ja-Gyun |
|
Address |
Rm.112-502, 52, Sunae-dong,
Bundang-gu, Seongnam-si, Gyeonggi-do, Korea |
|
Date of Birth |
05/05/1963 |
|
Title |
Co-President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
9,600,000,000 |
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|
Employees |
46 |
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Formation |
Co., Ltd by shares |
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Bank Details |
Woori Bank Shinhan Bank Korea Exchange Bank |
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Corporate Registered No. |
154511-0005341 |
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Business Registered No. |
303-81-09442 |
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Permit & Licenses |
Int’l Trade No.: 11327680 |
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Shareholder Position |
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|
Company History |
04/07/2008 Decreased capital to
9,600,000,000 KRW from 14,000,000,000 KRW 02/05/2008 Increased capital to 14,000,000,000
KRW from 1,000,000,000 KRW 01/25/2008 Increased the authorized shares
to 5,000,000 shares from 500,000 shares 02/2006 Changed company name to the present
name from Seoul Agricultural Materials Co., Ltd. 09/2005 Company annex labolatory
authentication (Korea Industrial Technology Association) 04/2005 Labolatory and office building
construction 11/2002 Utility Model registration(Pot's
seeding holm buider) 10/1999 Utility Model registration (Seed
sower) 07/1999 Management innovation Movement 09/1998 2nd bedsoil factory construction
(Seungju-eup, Suncheon-si) 11/1997 Patent registration (agricultural
film hose 01/1997 Bedsoil factory construction 04/1996 Paddy lightweight bedsoils
development 12/1993 Horticultural lightweight bedsoils
development first in korea 10/15/1993 Incorporated as Seoul
Agricultural Materials Co., Ltd. 01/1988 Fertilizer factory construction 10/1987 Incorporated as Seoul Agricultural
Materials Co., Ltd. |
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Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Co-President & CEO |
Mr. |
Ku Ja-Gyun |
Male |
Korean |
09/17/2007 |
|
Co-President & CEO |
Mr. |
Kang Koo-Hyun |
Male |
Korean |
09/17/2007 |
|
Director |
Mr. |
Lee Deok-Kyun |
Male |
Korean |
02/28/2003 |
|
Director |
Mr. |
Hur Yang-Moo |
Male |
Korean |
09/17/2010 |
|
Auditor |
Mr. |
Hur Joon |
Male |
Korean |
05/01/2007 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
24,649,439,133 |
38,941,022,457 |
1,034,703,194 |
|
|
06/2009 |
22,773,951,365 |
33,909,808,593 |
-84,822,153 |
|
06/2008 |
21,329,366,396 |
29,841,238,358 |
878,752,344 |
|
06/2007 |
18,895,683,922 |
17,116,681,212 |
435,578,846 |
|
06/2006 |
15,915,619,031 |
14,757,334,758 |
1,116,280,177 |
|
06/2005 |
10,665,621,239 |
10,496,466,193 |
1,533,787,384 |
|
06/2004 |
14,187,075,738 |
10,069,748,023 |
813,038,807 |
Financial Description
|
Authorized Capital(KRW) |
50,000,000,000 |
|
Paid-Up Capital(KRW) |
9,600,000,000 |
|
Total Issues Shares |
960,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 06/30/2010 |
As of 06/30/2009 |
As of 06/30/2008 |
|
Total Assets |
38,941,022,457 |
33,909,808,593 |
29,841,238,358 |
|
Current Assets |
21,293,199,825 |
19,076,006,550 |
15,576,927,316 |
|
-Quick Assets |
19,048,649,282 |
15,653,309,248 |
13,767,323,173 |
|
-Inventories |
2,244,550,543 |
3,422,697,302 |
1,809,604,143 |
|
Fixed Assets |
17,647,822,632 |
14,833,802,043 |
14,264,311,042 |
|
-Investment |
14,049,719,547 |
11,804,686,312 |
11,363,737,259 |
|
-Tangibles |
3,561,269,518 |
2,972,497,737 |
2,861,655,949 |
|
-Intangibles |
11,618,447 |
3,043,329 |
16,125,712 |
|
-Others |
25,215,120 |
53,574,665 |
22,792,122 |
|
Total Liabilities |
18,928,550,696 |
17,119,126,112 |
12,965,733,724 |
|
Current Liabilities |
17,747,514,935 |
17,119,126,112 |
12,965,733,724 |
|
Fixed Liabilities |
1,181,035,761 |
- |
- |
|
Capital Stock |
9,600,000,000 |
9,600,000,000 |
9,600,000,000 |
|
Capital Surplus |
225,280,657 |
225,280,657 |
225,280,657 |
|
Profit Surplus |
8,021,978,052 |
7,009,147,891 |
7,115,843,077 |
|
Capital Adjustment |
2,165,213,052 |
-43,746,067 |
-65,619,100 |
|
Total Equity |
20,012,471,761 |
16,790,682,481 |
16,875,504,634 |
|
Liab. & Shareholder’s Equity |
38,941,022,457 |
33,909,808,593 |
29,841,238,358 |
|
Current
Liabilities |
17,747,514,935 |
17,119,126,112 |
12,965,733,724 |
|
Trade Payables |
5,173,656,038 |
6,798,452,965 |
4,408,662,326 |
|
Account Payables |
999,368,232 |
1,304,123,829 |
1,149,470,480 |
|
Withholdings |
11,701,510 |
11,881,840 |
27,573,970 |
|
Advance Receipts |
19,178,472 |
105,609,781 |
40,588,439 |
|
Short-Term Borrowings |
11,378,000,000 |
8,878,000,000 |
5,878,000,000 |
|
Accrued Expenses |
26,382,833 |
21,057,697 |
20,670,914 |
|
Accrued Income Tax |
139,227,850 |
- |
11,224,349 |
|
Bonds with Warrant |
- |
- |
1,500,000,000 |
|
Fixed
Liabilities |
1,181,035,761 |
- |
- |
|
Debentures |
1,000,000,000 |
- |
- |
|
Provision for Severance &
Retirement |
321,918,725 |
317,937,900 |
235,983,150 |
|
Non-Current Portion of
Deferred Income Tax Credit |
181,035,761 |
- |
- |
Income
Statement
|
|||
|
Unit : Korean Won |
As of 06/30/2010 |
As of 06/30/2009 |
As of 06/30/2008 |
|
Sales |
24,649,439,133 |
22,773,951,365 |
21,329,366,396 |
|
Cost of Sold Goods |
18,274,686,913 |
16,439,714,204 |
14,381,955,357 |
|
Gross Profit |
6,374,752,220 |
6,334,237,161 |
6,947,411,039 |
|
Selling & Admin. Expenses |
5,161,953,891 |
5,734,846,463 |
5,812,208,651 |
|
Operating Income |
1,212,798,329 |
599,390,698 |
1,135,202,388 |
|
Non-Operating Income |
1,367,404,214 |
611,612,800 |
1,421,299,501 |
|
Non-Operating Expenses |
1,402,006,250 |
1,291,602,993 |
1,561,852,041 |
|
Income Before Taxes |
1,178,196,293 |
-80,599,495 |
994,649,848 |
|
Income Taxes Expenses |
143,493,099 |
4,222,658 |
115,897,504 |
|
Net Income |
1,034,703,194 |
-84,822,153 |
878,752,344 |
Cash
Flows
|
|||
|
Unit : Korean Won |
As of 06/30/2010 |
As of 06/30/2009 |
As of 06/30/2008 |
|
Cash Flows from Operating |
-2,674,259,411 |
963,789,901 |
3,109,083,936 |
|
-Net Income |
1,034,703,194 |
-84,822,153 |
878,752,344 |
|
-Exp. without Cash Outflow |
815,067,449 |
1,190,552,940 |
1,250,037,888 |
|
-Sale without Cash Inflows |
-1,108,097,279 |
-186,424,494 |
-1,198,862,349 |
|
-Changes in Asset/ & Liability |
-3,415,932,775 |
44,483,608 |
2,179,156,053 |
|
Cash Flows from Investing |
1,254,003,353 |
-3,858,595,258 |
-8,995,775,375 |
|
-Cash Inflow from Investing |
9,592,231,875 |
12,493,491,530 |
452,432,226 |
|
-Cash Outflows for Investing |
-8,338,228,522 |
-16,352,086,788 |
-9,448,207,601 |
|
Cash Flows from Financing |
3,531,066,354 |
1,544,200,000 |
9,762,673,900 |
|
-Cash Inflows from Financing |
5,831,200,000 |
6,364,200,000 |
13,715,200,000 |
|
-Cash Outflows from Financing |
-2,300,133,646 |
-4,820,000,000 |
-3,952,526,100 |
|
Increase/Decrease in Cash |
2,110,810,296 |
-1,350,605,357 |
3,875,982,461 |
|
Cash at the Beginning of Year |
7,421,835,869 |
8,772,441,226 |
4,896,458,765 |
|
Cash at the End of Year |
9,532,646,165 |
7,421,835,869 |
8,772,441,226 |
Products, Technologies, Services Description
|
Main Products & Services |
Substrates Fertilizer Pro-Environment Materials Irrigation Materials |
Trade Partners & Competitors
|
Competitors |
SEGI
CORPORATION 1876,
JANGHEUNG-DONG, NAM-GU, POHANG-SI, GYEONGSANGBUK-DO, KOREA TEL:+82-54-278-4020 FAX:+82-54-278-4024 DAEYU CO.,
LTD. 157, BUJEOK
1-RI, AMNYANG-MYEON, GYEONGSAN-SI, GYEONGSANGBUK-DO, KOREA TEL:+82-53-817-3012 FAX:+82-53-817-1577 MEE KWANG
CO., LTD. 150-6,
BANJEONG-RI, BUGAN-MYEON, YEONGCHEON-SI, GYEONGSANGBUK-DO, KOREA TEL:+82-54-331-8842 FAX:+82-54-331-4955 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
SHTECH CO., LTD.(135111-0080253) SEHWA ELECTRONICS CO., LTD.(KOREA) YISAN S&C CO., LTD.(KOREA) DIO CHEMICAL CO., LTD.(KOREA) DAEWON CHEMICAL CO., LTD.(KOREA) C CODE CO., LTD.(191111-0020334) BIO MASS PCB CO., LTD.(120111-0452805) MEISTER CO., LTD.(KOREA) |
|
Subsidiary |
GREEN AGRO CO., LTD.(KOREA) (100.0% held by the subject company) BUNONG CO., LTD.(KOREA) (100.0% held by the subject company) |
|
Cooperative Enterprise |
-Insured Company DONGBU INSURANCE CO., LTD.(110111-0095285) |
Sales by Region
(Activity &
Markets)
|
Sales/ Unit : KRW |
06/2010 |
06/2009 |
06/2008 |
|
Export |
0 |
0 |
10,995,798 |
|
Domestic |
24,649,439,133 |
22,773,951,365 |
21,318,370,598 |
|
Total |
24,649,439,133 |
22,773,951,365 |
21,329,366,396 |
Court Action
No.
News Clipping
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.10 |
|
UK Pound |
1 |
Rs.74.64 |
|
Euro |
1 |
Rs.64.42 |
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.