MIRA INFORM REPORT

 

 

Report Date :

19.09.2011

 

IDENTIFICATION DETAILS

 

Name :

KUMHO PETROCHEMICAL CO., LTD.

 

 

Formerly Known As :

KOREA KUMHO PETROCHEMICAL CO., LTD

 

 

Registered Office :

115, Sinmunno 1-ga, Jongno-gu, Seoul, Korea, 21~24th Fl., Kumho Asiana Main Bldg. 110-857

 

 

Country :

South Korea

 

 

Financials (as on) :

30.09.2010

 

 

Date of Incorporation :

28.12.1970

 

 

Com. Reg. No.:

102-81-31147

 

 

Legal Form :

Listed Company

 

 

Line of Business :

Manufacturer of Synthetic Rubber

 

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 :

Good

Payment Behaviour :

No Complaints

Litigation :

Exists

 

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

Restricted

 

C2

Off-credit

 

D

 

 

Basic

 

Company Name

KUMHO PETROCHEMICAL CO., LTD.

(Ex. English Name : KOREA KUMHO PETROCHEMICAL CO., LTD.)

(Trade Name : KKPC)

(Korean Company Name : “금호석유화학(주)”)

Registered Address

115, Sinmunno 1-ga, Jongno-gu, Seoul, Korea

Building

21~24th Fl., Kumho Asiana Main Bldg.

Zip Code

110-857

Tel

+82-2-6303-0114

Fax

+82-2-6303-3329

E-mail

webmaster@kkpc.com;imskim@kkpc.com

Website

www.kkpc.com

Trading Address

21~24th Fl., Kumho Asiana Main Bldg., 115, Sinmunno 1-ga, Jongno-gu, Seoul, Korea

Tel

+82-2-6303-0114

Fax

+82-2-6303-3329

Other Address-Ulsan Factory (Rubber)

680, Sanggae-dong, Nam-gu, Ulsan, Korea

Tel

+82-52-259-6114

Fax

+82-52-275-6547

Other Address-Yeosu Factory (Synthetic Rubber)

287-1, Pyeongyeo-dong, Yeosu-si, Jeollanam-do, Korea

Tel

+82-61-688-3000

Fax

+82-61-688-3166

Other Address-Yeosu Factory (Rubber Chemicals)

356, Hwachi-dong, Yeosu-si, Jeollanam-do, Korea

Tel

+82-61-688-3920

Fax

+82-61-685-5806

Other Address-Ulsan Factory (Synthetic Resins)

45-25, Seongnam-dong, Nam-gu, Ulsan, Korea

Tel

+82-52-279-8600

Fax

+82-52-273-1148

Other Address-Electronic Materials Division

604, Namseong 1-ri, Sinchang-myeon, Asan-si, Chungcheongnam-do, Korea

Tel

+82-41-532-8657

Fax

+82-41-532-8659

Other Address-KKPC R&D Center

57-1, Hwaam-dong 1-ga, Useong-gu, Daejeon, Korea

Tel

+82-42-865-8600

Fax

+82-42-862-5651

Type

Export/Import

Industry

Manufacture of Synthetic Rubber

  Main Business

Latex, Polystyrene, Expanded Polystyrene Foam, Polyprophylene Glycol

  Sub Business

Manufacture of Synthetic Resin and Other Plastic Materials

Established (mm/dd/yyyy)

12/28/1970

The Subject owns the premises of Yeosu Factory (Synthetic Rubber), Yeosu Factory (Rubber Chemicals) and KKPC R&D Center.

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Additives(12160000)

Sell

Styrene acrylonitrile resin(13111026)

Sell

Resins(13111000)

Sell

Polybutadiene BR(13101719)

Sell

Elastomers(13101700)

Sell

Styrene butadiene SBR(13101705)

Sell

Anti oxidants(12162200)

Sell

Acrylonitrile butadiene NBR(13101701)

Sell

Thermoplastic plastics(13102000)

Sell

Acrylonitrile butadiene styrene resin(13111004)

 

 

CEO’s

 

Name

Park Chan-Koo

Address

-

Date of Birth

08/13/1945

Title

Chairman & CEO

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

142,239,665,000

Employees

1,111

Formation

Listed Company (Korea Stock Exchange : 011780 ) as of 01/22/1988

A Company of Kumho Asiana Group

Bank Details

Woori Bank-Jongro Branch

Korea Development Bank

Corporate Registered No.

110111-0205975

Business Registered No.

102-81-31147

Permit & Licenses

05/1994 ISO 9001

08/1995 ISO 14001

 

Int’l Trade No.: 852818

Shareholder Position

Name

Shares

%

PARK SAM-KOO

1,346,512

4.73

PARK CHAN-KOO

1,934,972

6.80

PARK CHUL-WAN

3,040,882

10.69

PARK SE-CHANG

1,694,370

5.96

PARK JOON-KYUNG

2,183,120

7.67

KUMHO ASIANA CULTURAL FOUNDATION(200122-0000323)

485,060

1.71

JF ASSET MANAGEMENT LIMITED(21/F CHATER HOUSE, 8 CONNAUGHT ROAD CENTRAL, HONG KONG)

1,254,384

4.41

TREASURY STOCK

5,592,528

19.66

OTHERS

10,916,105

38.37

TOTAL

28,447,933

100.00

Company History

01/05/2010 Decide to increase the short-term borrowings as much as 60,000,000,000 KRW

12/2008 Awarded US$2 Billion Export Top Prize

03/14/2008 Changed company English name to KUMHO PETROCHEMICAL CO., LTD. , from KOREA KUMHO PETROCHEMICAL CO., LTD.

10/2007 Commissioned Ulsan SBR plant expansion(110,000 tons)

06/2007 Established Rizhao KUMHO JINMA Chemical Co., Ltd.

04/2007 Broke ground for second Yeosu combined heat and power plant

11/2006 Established Nanjing KUMHO GPRO Chemical Co., Ltd.

06/2006 Received National Environmental Management Excellence Award for GHG Reduction from the Ministry of Environment

01/2006 Designated an “Environmentally Friendly Company” by the Ministry of Environment

12/2005 2005 Received the Korea Management Awards

11/2005 Received the Tower of US$1 Billion Export Award

08/2004 Overseas office opened in LA, U.S.A.

06/2004 Received the Environment Management Award.(Ministry of Commerce, Industry and Energy.)

08/2003 Kumho Chemical Laboratory and Yicheon Laboratory merged into Kumho Petrochemical R&D Center.

06/2003 Received the Environment Management Award.

11/2002 Overseas office opened in Frankfurt, Germany.

10/2002 Overseas office opened in Guangzhou, China.

01/2002 Took over chemical business division of Kumho Development, Inc.

01/2001 Merged with Kumho Chemicals, Inc.

Company History

10/2000 Shanghai Kumho Sunny Plastics Co., Ltd. established.

08/2000 OHSAS 18001 certification acquired.

06/2000 Recognized among the top 50 companies with superior quality competitiveness.

08/1999 Recognized among the top 50 companies with superior quality competitiveness.

11/1998 Asan plant (Electronic materials division) launched.

07/1997 Overseas subsidiary established in LA, U.S.A.

07/1997 Combined heat & power plant in Yeosu built.

03/1997 Kumho Chemicals, Inc. enlisted as an affiliated company.

03/1997 Contact of introducing Polycarbonate technology.

12/1996 Designated as an environmentally friendly company.

08/1995 ISO 14001 certification acquired.

03/1995 Opended Kumho Life & Environmental Science Laboratory in Gwangju.

10/1994 Plastic compounding technology introduced.

08/1994 Thermoplastic elastomer (SBS) production started.

05/1994 ISO 9001 certification acquired.

02/1994 Kumho Chemical Laboratories opened in Daedeok Technovalley.

05/1993 Overseas office in Jakarta, Indonesia opened.

05/1992 Established BD plant.(Ulsan 50,000MT)

08/1990 UC Plant in Yeosu launched.

03/1989 Kumho Mitsui Chemicals, Inc. established.

12/1988 Multi-purpose BR plant launched.

12/1987 Korea Kumho Petrochemical Co., Ltd. shares offered publicly.

11/1987 Kumho P&B Chemical, Inc. established.

11/1987 Kumho Monsanto, Inc. established.

06/1985 Kumho Polychem Co., Ltd. established.

06/1985 Kumho Petrochemical Research Center established.

06/1985 Korea Synthetic Rubber Industries Co., Ltd. and Korea Kumho Chemicals, Inc. merged.

06/1985 Company Name changed to Korea Kumho Petrochemical Co., Ltd.

03/1984 SBR Latex plant launched. (Ulsan)

12/1983 NBR production initiated.

08/1982 HSR production initiated.

03/1980 BR plant launched. (Yeosu 25,000MT)

10/1979 BD plant launched. (Yeosu 50,000MT)

06/1973 Sales started.

04/1973 SBR plant launched. (Ulsan 25,000MT)

12/1970 Korea Synthetic Rubber Industries Co., Ltd. established.

 

 

Management

 

Job Description

Title

Name

Nationality

Date of Birth

Education

Chairman & CEO

Mr.

Park Chan-Koo

Korean

1945.08.13

Yonsei University, Korea

President & CEO

Mr.

Lee Seo-Hyung

Korean

1944.04.08

Seoul National University, Korea

Vice President & CEO

Mr.

Kim Sung-Chae

Korean

1952.05.20

Yonsei University, Korea

President & CEO

Mr.

Lee Joon-Bo

Korean

1953.08.20

Hankuk University of Foreign Studies, Korea

Outside Director

Mr.

Ban Ki-Ro

Korean

1950.10.09

Indiana Univ., USA

Outside Director

Mr.

Lee Soo-Kil

Korean

1940.09.29

Seoul National University, Korea

Outside Director

Mr.

Kim Young-Il

Korean

1945.01.25

Yonsei University, Korea

Outside Director

Mr.

Min Seung-Ki

Korean

1948.04.28

Yonsei University, Korea

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

(*)12/2010

3,886,336,827,000

3,452,252,343,000

462,102,243,000

09/2010

2,864,104,062,951

3,415,189,545,983

235,090,688,818

2009

2,801,661,889,764

3,199,869,250,611

(-)614,839,360,572

2008

3,182,489,831,123

3,714,811,641,273

(-)19,745,678,569

2007

2,124,530,864,841

2,850,979,750,310

134,406,821,328

2006

1,753,034,692,190

2,614,577,899,995

79,691,971,162

2005

1,709,311,674,769

1,973,569,879,865

121,408,851,727

2004

1,507,747,920,038

1,626,702,597,163

134,469,476,517

2003

1,198,939,587,721

1,415,344,107,691

21,013,673,907

(*) The financials (2010) are released by the subject company as tentative figures as of 01/12/2011. It can be changeable by the Auditors confirmation.

 

 

Financial Description

 

Authorized Capital(KRW)

250,000,000,000

Paid-Up Capital(KRW)

142,239,665,000

Total Issues Shares

28,447,933

 

 

Balance Sheet

 

Unit : Korean Won

01/01/2010~09/30/2010

As of 12/31/2009

As of 12/31/2008

Total Assets

3,415,189,545,983

3,199,869,250,611

3,714,811,641,273

Current Assets

921,873,438,440

775,798,027,813

783,295,000,009

-Quick Assets

552,159,804,098

454,506,655,333

413,994,625,462

-Inventories

369,713,634,342

321,291,372,480

369,300,374,547

Fixed Assets

2,493,316,107,543

2,424,071,222,798

2,931,516,641,264

-Investment

954,812,285,431

889,673,441,299

1,554,567,629,901

-Tangibles

1,407,040,025,237

1,356,650,399,002

1,272,781,406,380

-Intangibles

30,263,372,484

35,641,597,281

45,368,786,554

-Others

101,200,424,391

142,105,785,216

58,798,818,429

Total Liabilities

2,593,052,442,118

2,664,759,400,829

2,551,668,034,015

Current Liabilities

1,305,667,656,074

2,058,756,057,714

1,117,007,473,162

Fixed Liabilities

1,287,384,786,044

606,003,343,115

1,434,660,560,853

Capital Stock

142,239,665,000

142,239,665,000

142,239,665,000

Capital Surplus

89,951,989,027

303,449,199,994

303,449,199,994

Profit Surplus

235,090,688,818

-226,680,926,967

407,568,977,698

Capital Adjustment

354,854,761,020

316,101,911,755

309,885,764,566

Total Equity

822,137,103,865

535,109,849,782

1,163,143,607,258

Liab. & Shareholder’s Equity

3,415,189,545,983

3,199,869,250,611

3,714,811,641,273

 

Current Liabilities

1,305,667,656,074

2,058,756,057,714

1,117,007,473,162

Trade Payables

232,636,686,069

262,547,492,605

213,105,740,372

Short-Term Borrowings

270,425,150,752

630,067,180,687

168,070,303,448

Short-Term Debenture

122,569,840,000

140,000,000,000

-

Account Payables

146,455,707,620

127,692,860,624

183,458,140,917

Advance Receipts

2,906,871,001

2,203,871,937

867,410,531

Withholdings

4,603,161,030

3,140,759,789

1,020,596,594

Tax Withhold

534,793,918

517,533,602

388,527,496

Accrued Expenses

15,770,067,999

15,371,227,497

20,799,732,022

Accrued Income Tax

11,685,582,241

-

24,473,321,434

Current Portion of Long-Term Account Payables

892,130,885

1,553,135,682

1,217,051,255

Current Portion of Debentures

210,000,000,000

265,000,000,000

491,766,947,836

Current Portion of Debentures- Foreign Currency

-

38,180,520,000

-

Current Portion of Borrowings

232,480,680,000

518,163,480,000

-

Current Portion of Borrowings-Foreign Currency

48,646,916,000

49,737,424,800

-

Current Portion of Exchangeable Bonds

3,567,300,000

3,567,400,000

-

Unearned Income

64,907,339

75,117,368

89,343,303

Guarantee Deposit Withhold

1,915,800,000

110,800,000

1,076,361,000

Accrued Dividends

5,078,210

10,724,450

9,840,450

Derivatives

3,567

1,521,543,567

10,843,341,633

Provision for Sales Guarantee

36,737,406

-

-

Fixed Liabilities

1,287,384,786,044

606,003,343,115

1,434,660,560,853

Debentures

130,000,000,000

110,000,000,000

327,000,000,000

Convertible Bonds

200,000,000,000

-

-

Debentures-Foreign Currency

-

-

41,120,250,000

Exchangeable Debentures

-

-

3,573,600,000

Long-Term Borrowings

892,486,790,000

431,228,700,000

835,922,180,000

Long-Term Borrowings-Foreign Currency

43,293,908,710

44,111,777,510

102,042,670,957

Provision for Severance & Retirement

54,309,519,491

55,198,869,958

60,589,086,462

Long-Term Guarantee Deposit Withhold

98,629,456

98,629,456

82,629,456

Long-Term Account Payables

7,361,329,304

651,985,596

1,672,720,213

Derivatives

-

-

2,242,672,841

Deferred Income Tax

-

-

97,531,615,099

 

Income Statement

 

Unit : Korean Won

01/01/2010~09/30/2010

As of 12/31/2009

As of 12/31/2008

Sales

2,864,104,062,951

2,801,661,889,764

3,182,489,831,123

Cost of Sold Goods

2,451,460,898,659

2,487,517,928,235

2,702,607,252,929

Gross Profit

412,643,164,292

314,143,961,529

479,882,578,194

Selling & Admin. Expenses

158,353,188,281

197,962,772,105

198,587,313,567

Operating Income

254,289,976,011

116,181,189,424

281,295,264,627

Non-Operating Income

210,255,421,966

142,690,569,355

270,490,359,672

Non-Operating Expenses

161,774,695,201

1,100,743,211,354

578,443,474,310

Ordinary Income

302,770,702,776

-841,871,452,575

-26,657,850,011

Special Income

-

-

-

Income Before Taxes

302,770,702,776

-841,871,452,575

-26,657,850,011

Income Taxes Expenses

67,680,013,958

-227,032,092,003

-6,912,171,442

Net Income

235,090,688,818

-614,839,360,572

-19,745,678,569

 

 

Cash Flows

 

Unit : Korean Won

01/01/2010~09/30/2010

As of 12/31/2009

As of 12/31/2008

Cash Flows from Operating

96,807,928,825

281,715,589,101

-34,402,545,624

-Net Income

235,090,688,818

-614,839,360,572

-19,745,678,569

-Exp. without Cash Outflow

101,399,929,580

1,013,666,521,306

403,746,553,546

-Revenue without Cash Inflows

-152,946,358,466

-51,809,643,157

-160,424,541,418

-Changes in Asset/ & Liability

-86,736,331,107

-65,301,928,476

-257,978,879,183

Cash Flows from Investing

-5,423,067,554

-468,374,415,675

-383,990,756,683

-Cash Inflow from Investing

188,628,472,596

4,429,693,624

47,402,741,045

-Cash Outflows for Investing

-194,051,540,150

-472,804,109,299

-431,393,497,728

Cash Flows from Financing

-68,636,544,965

251,807,135,786

419,093,647,614

-Cash Inflows from Financing

1,388,066,311,052

1,771,169,349,948

2,559,516,465,552

-Cash Outflows from Financing

-1,456,702,856,017

-1,519,362,214,162

-2,140,422,817,938

Increase/Decrease in Cash

22,748,316,306

65,148,309,212

700,345,307

Cash at the Beginning of Year

77,237,019,381

12,088,710,169

11,388,364,862

Cash at the End of Year

99,985,335,687

77,237,019,381

12,088,710,169

 

 

Products, Technologies, Services Description

 

Main Products & Services

Synthetic Rubber

BR, SBR, LBR, S-SBR, NBR, HSR, TPE, SBR Latex, PAG

 

Synthetic Plastics

ABS, PS, EPS, SAN, PPG

 

Rubber Chemicals

Antiaxidant, Vulcanization Accelerator, Others

 

Electronic Chemicals

Stripper, Photoregist, BARC, PAG

 

Brand Name: KOSYN, KUMANOX, KUMAC, Barc

Annual Production Capacity

(Thousand M/T)

Products

09/2010

2009

2008

Synthetic Rubber

833

833

725

Synthetic Plastics

615

615

615

SB-LATEX

70

70

70

BD

237

237

237

Fine Chemicals

79

79

79

Others

6,042

6,042

2,442

 

 

Trade Partners & Competitors

 

Customers

Synthetic Rubber: Paper Manufacturer, Carpet Manufacturers

Synthetic Plastics: Electric/Electronics Parts Manufacturers, Car Manufacturers, Construction Companies

Rubber Chemicals: Tire Manufacturers, Rubber/ Synthetic Rubber Parts Manufacturers

 

Sales Channel

Domestic : Factory→ End-User (Tire, Shoe Manufacturers)

Export :

Direct : Factory→ Overseas End-User (Master L/C)

Local : Factory→ Overseas End-User (Local L/C)

 

Conditions

Domestic : Chas & Credit

Export : Irrevocable L/C Base, T/T

 

KUMHO TIRE CO., INC.(110111-2810590)

HANKOOK TIRE CO.,LTD.(110111-0034233)

KOREA YAKULT CO., LTD.(110111-0006852)

DAEWOO ELECTRONICS CORP.(110111-0546452)

KUMHO P&B CHEMICALS, INC.(206211-0018313)

LG.PHILIPS DISPLAYS KOREA CO., LTD.(176011-0025765)

HYNIX SEMICONDUCTOR INC.(134411-0001387)

Competitors

KPX CHEMICAL CO., LTD.

190-3, CHUNGJEONGRO 2-GA SEODAEMUN-GU SEOUL, 120-012 SOUTH KOREA

TEL:+82-2-3616500 FAX:+82-2-3635600

 

DONGSUNG CHEMICAL CO., LTD.

472, SHINPYONG-DONG SAHA-GU BUSAN, 604-836 SOUTH KOREA

TEL:+82-51-2004500 FAX:+82-51-2045636

 

M&FC CO., LTD

376-11, SEOGYO-DONG MAHPO-GU SEOUL, 121-839 SOUTH KOREA

TEL:+82-2-3257050 FAX:+82-2-3253885

 

 

Related Parties

(Subsidiaries, Joint-Venture & Affiliates)

 

Affiliates

KUMHO TIRE CO., LTD.(110111-2810590)

(46.95% held by the subject company)

 

KUMHO POLYCHEM CO., LTD.(110111-0400533)

(50.00% held by the subject company)

 

KUMHO P&B CHEMICALS, INC.(206211-0018313)

(78.20% held by the subject company)

 

KUMHO INDUSTRIAL CO., LTD.(110111-0134877)

(21.56% held by the subject company)

 

DAEWOO ENGINEERING & CONSTRUCTION CO., LTD.(110111-2137895)

(4.49% held by the subject company)

 

KUMHO LIFE INSURANCE CO., LTD.(200111-0014608)

(23.83% held by the subject company)

 

KUMHO RENT-A-CAR. INC(110111-0513253)

Affiliates

KUMHO MITSUI CHEMICALS, INC.(110111-0612980)

KUMHO RESORT CO., LTD.(134511-0105856)

KOREA ROAD MANAGEMENT CO., LTD.(200111-0072416)

ASIANA AIRLINES INC.(110111-0562804) (14.61%  held by the subject company)

KOREA EXPRESS CO., LTD(110111-0006167)

KOREA INTEGRATED FREIGHT TERMINAL CO., LTD(110111-0853576)

JUNG-BU INTEGRATED FREIGHT TERMINAL CO., LTD.(110111-3284158)

KUMHO TRADING CO., CO., LTD.(110111-2079641)

SEOUL EXPRESS BUS TERMINAL CO., LTD.(110111-0187644)

KUMHO TERMINAL CO., LTD.(200111-0231418)

AIR BUSAN CO., LTD.(180111-0605121)

SONGNISAN EXPRESS CO., LTD.(150111-0000286)

PUSAN EAST CONTAINER TERMINAL CO., LTD.(180111-0101252)

PECT NEW CONTAINER TERMINAL CO., LTD.(180111-0449579)

GWANGYANG WEST CONTAINER TERMINAL CO., LTD.(110111-3547514)

THE KOREA EXPRESS TERMINAL CO., LTD.(110111-1726227)

DONG SEOK LOGISTICS CO., LTD.(144711-0009135)

TERMINAL OPERATING CO., LTD OF MASAN PORT-PIER 4(194211-0035362)

PUSAN GAMMAN CONTAINER TERMINAL CO., LTD(180111-0560234)

KOREA EXPRESS BUSAN NEWPORT DISTRIPARK(194111-0012403)

ULSAN PORT OPERATING CO., LTD.(230111-0057769)

INCHEON SOUTH TERMINAL OPERATION COMPANY(120111-0426305)

KE-CATI LOGISTICS CO., LTD(204611-0024273) 

CNK WORLD LOGISTICS CO., LTD(110111-3638496)

ASIANAIDT, INC.(110111-0801848)

ASIANA ABACUS , INC.(110111-3010925)

KOREA EXPRESS INFORMATION TECHNOLOGY CO., LTD.(110111-2230417)

ASIANA AIRPORT DEVELOPMENT CO., LTD.(110111-1412496)

INCHEON AIRPORT ENERGY CO., LTD.(110111-1415408)

KUMHO ASIANA MAIN TOWER CO., LTD.(110111-3207712)

CHUNGJU BORAMAE CO., LTD.(110111-3348524)

BUGOK ENVIRONMENT CO., LTD.(135211-0016488)

GK FIXED LINK CORP(180111-0443224)

TAE-CHEON DEVELOPMENT CO., LTD.(110111-1252644)

PRUGIO SERVICE CO., LTD.(110111-1675276)

KUMHO STEEL TECH CO., LTD.(154311-0016706)

ILSAN GRAND BRIDGE CORP.(110111-2576192)           

SOUTHWEST COAST LEISURE COMPANY(205511-0024878)

GREEN ANSEONG ENVIRO CO., LTD(110111-3780833)

KUMHO SONGDO HOTEL CO., LTD.(120111-0451998)

AAS AIRPORT SERVICES. INC(110111-0562713)

KUMHO ENVIROTECH CO., LTD.(110111-1799703)

KUMHO AUTOLEASE, INC.(110111-3626970)

Overseas Office

JAKARTA OFFICE

SHENZHEN OFFICE

GUANGZHOU OFFICE

SHANGHAI OFFICE

LA OFFICE

Subsidiary

KUMHO P&B CHEMICALS, INC.(206211-0018313)

(78.20% held by the subject company)

 

KUMHO MITSUI CHEMICALS, INS.(110111-0612980)

(50.0% held by the subject company)

 

KUMHO POLYCHEM CO., LTD.(110111-0400533)

(50.0% held by the subject company)

 

KUMHO TIRE CO., INC.(110111-2810590)

(46.95% held by the subject company)

 

KUMHO RENT-A-CAR CO., LTD.(110111-0513253)

 

KUMHO PETRO HOLDINGS CO., LTD.(CHINA)

(100.0% held by the subject company)

Cooperative Enterprise

-Insured Company

DONGBU INSURANCE CO., LTD.(110111-0095285)

 

 

Sales by Region

(Activity & Markets)

 

Sales/ Unit :Mil KRW

09/2010

2009

2008

Export

679,607

1,878,852

2,120,884

Domestic

327,543

922,810

1,061,606

Total

1,007,151

2,801,662

3,182,490

The Subject deals with the companies in USA, Asia and Europe.

Synthetic Rubber : The subject exports to South East Asia, USA, China, Middle East and Europe.

Synthetic Plastics : The Subject exports to USA, China and Europe.

 

 

Court Action

 

Case No.

Court

Plaintiff(s)/ Creditor(s)/ Applicant(s)

Defendant(s)/ Debtor(s)/ Respondent(s)

Cause

Amount (Million KRW)

Status

02/15/2005

International Trade Commission

Plexis America LP

The Subject and others(4)

Infringement of patent

U$20,000,000

The Subject won at 1st & 2nd rounds, and 3rd round is proceeding.

 

 

The Subject

Plexis America LP

Violation of Anti-Trust Law

-

Proceeding

Domestically there are 7 cases filed amounting 1,170,000,000 KRW.

 

 

News Clipping

 

--

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.47.47

UK Pound

1

Rs.74.96

Euro

1

Rs.65.79

 

 

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

 

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%)

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.