MIRA INFORM REPORT
|
Report Date : |
28.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
PILS CO., LTD. |
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Registered Office : |
132-7, Gamjeon-dong, Sasang-gu, Busan, Korea, Rm. 1208,
Byucksan Digital Valley, Zip Code 617-731 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
24.06.1998 |
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Com. Reg. No.: |
603-81-35379 |
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Legal Form : |
Co., Ltd by shares |
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Line of Business : |
Wholesale of Transportation Equipment |
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 |
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Off-credit |
D |
Basic
|
Company
Name |
PILS CO., LTD. (Korean Company
Name : “필스”) |
|
Registered Address |
132-7, Gamjeon-dong, Sasang-gu, Busan,
Korea |
|
Building |
Rm. 1208, Byucksan Digital Valley |
|
Zip Code |
617-731 |
|
Tel |
+82-51-320-0700 |
|
Fax |
+82-51-320-0730 |
|
E-mail |
webmaster@pils.co.kr;joonho@pils.co.kr |
|
Website |
www.pils.co.kr |
|
Trading Address |
Rm. 1208, Byucksan Digital Valley, 132-7,
Gamjeon-dong, Sasang-gu, Busan, Korea |
|
Tel |
+82-51-320-0700 |
|
Fax |
+82-51-320-0730 |
|
Other Address- Gimhae Branch |
91-8, Bongnim-ri, Saengnim-myeon,
Gimhae-si, Gyeongsangnam-do, Korea |
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Tel |
|
|
Fax |
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Type |
Export/Import |
|
Industry |
Wholesale of Transportation Equipment |
|
Main Business |
Marine Equipment, Engineering |
|
Sub
Business |
Other Engineering Services |
|
Established (mm/dd/yyyy) |
06/24/1998 |
The Subject owns
the premises of registered HQ address(196.0㎡) and Gimhae Branch(11,807㎡).
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Naval architecture(81101506) |
|
Sell |
International trade services(80151600) |
|
Sell |
Transport arrangements(78141500) |
|
Sell |
Marine craft systems and
subassemblies(25111900) |
CEO’s
|
Name |
Kim Ju-Cheol |
|
Address |
224-1, Bugok-dong, Geumjeong-gu,
Busan, Korea |
|
Date of Birth |
12/01/1959 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
100,000,000 |
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Employees |
23 |
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Formation |
Co., Ltd by shares |
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Bank Details |
Industrial Bank of Korea-Noksan Industrial
Complex Branch Kookmin Bank Hana Bank Woori Bank Shinhan Bank |
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Corporate Registered No. |
180111-0260488 |
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Business Registered No. |
603-81-35379 |
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Permit & Licenses |
Int’l Trade No.: 12085600 |
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Shareholder Position |
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Company History |
06/24/1998 incorporated as the present name 01/21/2005 Moved to the present HQ address
from 1591-7, Songjeong-dong, Gangseo-gu, Busan, Korea |
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Kim Ju-Cheol |
Male |
Korean |
03/23/2001 |
|
Director |
Mr. |
Kim Young-Sool |
Male |
Korean |
01/10/2009 |
|
Director |
Mr. |
Kim Sung-Ryong |
Male |
Korean |
06/11/2010 |
|
Auditor |
Mr. |
Jung Ho |
Male |
Korean |
06/11/2010 |
|
Director |
Mr. |
Kim Sung-Ryong |
Male |
Korean |
06/11/2010 |
|
Supervisor of HQ |
Mr. |
Lee Hurn-Joon |
Male |
Korean |
08/25/2004 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
61,509,982,749 |
32,341,087,921 |
655,275,171 |
|
|
2009 |
149,925,831,995 |
66,943,487,588 |
36,241,381 |
|
2008 |
112,296,596,332 |
63,670,919,989 |
200,374,032 |
|
2007 |
59,752,666,742 |
22,105,326,789 |
389,233,024 |
|
2006 |
46,467,775,963 |
13,514,620,900 |
402,453,411 |
|
2005 |
38,155,911,097 |
9,838,823,046 |
438,918,340 |
Financial Description
|
Authorized Capital(KRW) |
400,000,000 |
|
Paid-Up Capital(KRW) |
100,000,000 |
|
Total Issues Shares |
10,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
32,341,087,921 |
66,943,487,588 |
63,670,919,989 |
|
Current Assets |
27,041,879,122 |
60,714,304,515 |
57,318,514,390 |
|
-Quick Assets |
14,138,064,201 |
48,024,995,541 |
42,511,456,959 |
|
-Inventories |
12,903,814,921 |
12,689,308,974 |
14,807,057,431 |
|
Fixed Assets |
5,299,208,799 |
6,229,183,073 |
6,352,405,599 |
|
-Investment |
388,509,782 |
1,253,400,000 |
1,253,400,000 |
|
-Tangibles |
4,613,329,058 |
4,698,004,114 |
4,867,762,297 |
|
-Intangibles |
1,100,000 |
1,100,000 |
1,100,000 |
|
-Others |
296,269,959 |
276,678,959 |
230,143,302 |
|
Total Liabilities |
27,576,661,911 |
62,792,178,749 |
59,555,852,531 |
|
Current Liabilities |
26,966,381,393 |
61,896,901,631 |
58,723,011,748 |
|
Fixed Liabilities |
610,280,518 |
895,277,118 |
832,840,783 |
|
Capital Stock |
100,000,000 |
100,000,000 |
100,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
2,641,751,008 |
1,986,475,837 |
1,950,234,456 |
|
Capital Adjustment |
2,022,675,002 |
2,064,833,002 |
2,064,833,002 |
|
Total Equity |
4,764,426,010 |
4,151,308,839 |
4,115,067,458 |
|
Liab. & Shareholder’s Equity |
32,341,087,921 |
66,943,487,588 |
63,670,919,989 |
|
Current
Liabilities |
26,966,381,393 |
61,896,901,631 |
58,723,011,748 |
|
Trade Payables |
5,672,761,212 |
13,224,330,502 |
13,756,312,026 |
|
Short-Term Borrowings |
3,974,175,000 |
5,167,175,000 |
3,180,000,000 |
|
Account Payables |
1,669,536,547 |
8,860,835,469 |
7,001,710,465 |
|
Advance Receipts |
14,895,715,600 |
34,018,712,244 |
34,021,703,271 |
|
Withholdings |
140,486,924 |
96,353,100 |
78,598,067 |
|
Accrued Expenses |
159,471,326 |
132,024,783 |
74,116,160 |
|
Accrued Income Tax |
- |
55,357,797 |
126,860,335 |
|
Guarantee Deposit Withhold |
34,000,000 |
134,000,000 |
254,000,000 |
|
Current Portion of Long-Term Debts |
420,234,784 |
208,112,736 |
229,711,424 |
|
Fixed
Liabilities |
610,280,518 |
895,277,118 |
832,840,783 |
|
Provision for Severance & Retirement |
227,106,750 |
627,718,930 |
526,356,140 |
|
Long-Term Borrowings |
571,891,784 |
626,225,472 |
689,134,272 |
|
Leasehold Deposit Received |
46,000,000 |
36,000,000 |
41,000,000 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
61,509,982,749 |
149,925,831,995 |
112,296,596,332 |
|
Cost of Sold Goods |
56,596,093,628 |
133,883,751,413 |
102,646,737,214 |
|
Gross Profit |
4,913,889,121 |
16,042,080,582 |
9,649,859,118 |
|
Selling & Admin. Expenses |
5,701,716,459 |
7,462,262,254 |
6,810,699,761 |
|
Operating Income |
787,827,338 |
8,579,818,328 |
2,839,159,357 |
|
Non-Operating Income |
4,147,251,234 |
3,432,540,481 |
4,949,271,807 |
|
Non-Operating Expenses |
2,704,148,725 |
11,837,329,041 |
7,396,887,047 |
|
Income Before Taxes |
655,275,171 |
175,029,768 |
391,544,117 |
|
Income Taxes Expenses |
- |
138,788,387 |
191,170,085 |
|
Net Income |
655,275,171 |
36,241,381 |
200,374,032 |
Cash
Flows
|
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows from Operating |
7,821,320,986 |
-5,093,220,765 |
-1,477,767,955 |
|
-Net Income |
655,275,171 |
36,241,381 |
200,374,032 |
|
-Exp.
without Cash Outflow |
365,868,455 |
788,963,844 |
1,108,230,910 |
|
-Revenue
without Cash Inflows |
-283,061,543 |
-119,402,529 |
-621,945,683 |
|
-Changes in
Asset/ & Liability |
7,083,238,903 |
-5,799,023,461 |
-2,164,427,214 |
|
Cash Flows
from Investing |
1,437,327,999 |
744,538,011 |
-1,908,226,532 |
|
-Cash Inflow
from Investing |
1,609,043,253 |
4,294,446,571 |
314,220,084 |
|
-Cash
Outflows for Investing |
-171,715,254 |
-3,549,908,560 |
-2,222,446,616 |
|
Cash Flows
from Financing |
-8,302,920,658 |
3,821,588,580 |
4,626,374,279 |
|
-Cash
Inflows from Financing |
720,460,208 |
9,404,510,380 |
26,250,502,763 |
|
-Cash
Outflows from Financing |
-9,023,380,866 |
-5,582,921,800 |
-21,624,128,484 |
|
Increase/Decrease
in Cash |
955,728,327 |
-527,094,174 |
1,240,379,792 |
|
Cash at the
Beginning of Year |
1,414,065,141 |
1,941,159,315 |
700,779,523 |
|
Cash at the End of Year |
2,369,793,468 |
1,414,065,141 |
1,941,159,315 |
Products, Technologies, Services Description
|
Main Products & Services |
Purchasing Material & Equipment International Trading -Spare Parts Dealing -Welding Material
-Welding Machine
-Mild & High tensile strength steel -Atmospheric Corrosion Resisting Steel
-Low Temperature Service Steel
-Low-Alloy Heat Resisting Steel Logistic Service -Warehouse & Utilities Service Inspection service Engineering Service -Ship Design -Superintend -Basic Engineering Service -Software -Lashing Bridge Engineering &
Fabrication |
Trade Partners & Competitors
|
Suppliers |
IL SUNG ENTERPRISE CO. SANGRIM TECHNOLOGY A.P.MOLLER ANANGEL SHIPPING ENTERPRISES S.A. AVRA SHIPMANAGEMENT S.A. BROSTROM TANKERS SA CERES HELLENIC SHIPPING ENTERPRISES LTD. CHEVRON SHIPPING COMPANY LLC CONOCO SHIPPING COMPANY COSTAMARE SHIPPING CO. S.A. KOC ELECTRIC CO., LTD ELETSON CORPORATION GRIMALDI GROUP HANSEATIC SHIPPING COMPANY LTD. DAI HAN ANCHOR CHAIN MFG. CO., LTD HAPAG - LLOYD CONTAINER LINIE GMBH KUWAIT OIL TANKER COMPANY S.A.K. MINERVA MARINE INC. MABA TRADING CO., LTD RICKMERS |
|
Customers |
DUBAI DRYDOKS-UAE SAMSUNG HEAVY INDUSTRIES CO.,
LTD.(110111-0168595) |
|
Competitors |
CENTRAL MARITIME CO., LTD. 1419-4, DAEJEO 1-DONG, GANGSEO-GU, BUSAN,
KOREA TEL:+82-51-971-0777 FAX:+82-51-972-0779 DONGKANG M-TECH CO., LTD. 7TH FL., YOUNGWON BLDG., 739-5, YEOKSAM
1-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-553-0181 FAX:+82-2-553-0121 GOODSEN INTERNATIONAL CO., LTD. RM. 405, HANYEONG BLDG., 57-9,
SEOSOMUN-DONG, JUNG-GU, SEOUL, KOREA TEL:+82-2-756-3506 FAX:+82-2-6670-2265 AJAX MARITIME CO., LTD. 3RD FL., DAECHANG BLDG., 64, DAEGYODONG
1-GA, YEONGDO-GU, BUSAN, KOREA TEL:+82-51-417-8877 FAX:+82-51-417-8879 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
TAKKEDA CO., LTD. (10.0% held by the subject company) VINA SHIN KOREA CO., LTD.(180111-0551051) (24.0% held by the subject company) DK INDUSTRY CO., LTD.(180111-0403757) (33.0% held by the subject company) GJ GLOBAL CO., LTD. (18.0% held by the subject company) SAMWOO PROPELLER CO., LTD. SPCU CO., LTD.(110111-2861262 ) (40.0% held by the subject company) |
|
Cooperative Enterprise |
-Insured Company SAMSUNG FIRE & MARINE INSURANCE CO.,
LTD(110111-0005078) |
Sales by Region
(Activity & Markets)
|
Sales/ Unit : KRW |
2010 |
2009 |
2008 |
|
Export |
38,792,743,084 |
98,304,197,859 |
57,010,891,539 |
|
Domestic |
21,323,487,301 |
48,737,951,305 |
51,463,785,653 |
|
Others |
1,393,752,364 |
2,883,682,831 |
3,821,919,140 |
|
Total |
61,509,982,749 |
149,925,831,995 |
112,296,596,332 |
The Subject imports
from USA and Europe.
Court Action
No.
News Clipping
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.18 |
|
UK Pound |
1 |
Rs.76.65 |
|
Euro |
1 |
Rs.66.63 |
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.