|
Report Date : |
12.04.2012 |
IDENTIFICATION DETAILS
|
Correct Name : |
SUNSTAR CO., LTD. |
|
|
|
|
Formerly Known As : |
SUNSTAR MACHINERY CO., LTD. |
|
|
|
|
Registered Office : |
178-212, Gajwa 1-dong, Seo-gu, |
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|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
17.06.1974 |
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|
|
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Com. Reg. No.: |
122-81-07995 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Wholesale of Other Industrial Machinery and Equipment |
|
|
|
|
No. of Employees : |
710 |
RATING & COMMENTS
|
MIRAs Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Company
Name |
SUNSTAR CO., LTD. (Ex. Company Name : SUNSTAR MACHINERY CO., LTD.) (Korean Company Name : (주)썬스타) |
|
Registered Address |
178-212, Gajwa 1-dong, Seo-gu, |
|
Zip Code |
404-812 |
|
Tel |
+82-32-580-5600 |
|
Fax |
+82-32-584-3020 |
|
E-mail |
|
|
Website |
|
|
Trading Address |
178-67, Gajwa 1-dong, Seo-gu, |
|
Tel |
+82-32-580-5600 |
|
Fax |
+82-32-584-3020 |
|
Other Address-Branch |
30-2, Dangsan-dong 2-ga, Yeongdeungpo-gu, |
|
Other Address-Branch |
602-22, Gajwa-dong, Seo-gu, |
|
Other Address-Branch |
617-23, Ganseok-dong, Namdong-gu, |
|
Type |
Export |
|
Industry |
Wholesale of Other Industrial Machinery and Equipment |
|
Main Business |
Industrial Sewing Machines, Parts for Industrial Sewing Machine,
Textile & Leather Machinery |
|
Established (mm/dd/yyyy) |
06/17/1974 |
The Subject owns
the premises of registered HQ address.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Motors(26101600) |
|
Sell |
Embroidery making machines(23121501) |
|
Sell |
Servomotors(26101606) |
|
Sell |
Motors(26101600) |
|
Sell |
Sewing machines(23121614) |
|
Buy |
Diodes(32111500) |
|
Buy |
Power supply transformers(39121002) |
|
Buy |
Signal converters(39121008) |
|
Buy |
Floppy drives(43201801) |
|
Buy |
Nuts(31161700) |
|
Buy |
Bolts(31161600) |
|
Buy |
Light emitting diodes LEDs(32111503) |
|
Buy |
Inverters(32121705) |
|
Buy |
Bare printed circuit boards(32131010) |
|
Buy |
Switches and controls and relays and accessories(39121500) |
|
Buy |
Random access memory RAM(32101601) |
|
Buy |
Resistors(32121600) |
|
Buy |
Integrated circuits(32101600) |
|
Buy |
Capacitors(32121500) |
|
Name |
Park In-Chul |
|
Address |
Rm.503, 392-1, Hongeun-dong,
Seodaemun-gu, |
|
Date of Birth |
06/02/1952 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
2,504,560,000 |
|||||||||
|
Employees |
710 |
|||||||||
|
Formation |
Co., Ltd by shares A Company of SUNSTAR Group |
|||||||||
|
Bank Details |
Industrial Bank of Korea-Euljiro Branch Korea Development Bank Hana Bank-Incheon Branch |
|||||||||
|
Corporate Registered No. |
120111-0005167 |
|||||||||
|
Business Registered No. |
122-81-07995 |
|||||||||
|
Permit & Licenses |
Intl Trade No.: 974387 |
|||||||||
|
Shareholder Position |
|
|||||||||
|
Company History |
06/17/1974 Incorporated as HANKOOK MACHINE
INDUSTRY CO., LTD. 03/01/2001 Changed company name to SUNSTAR
MACHINERY CO., LTD. 10/05/2004 Increased the authorized shares
to 100,000 shares from 10,000 shares 05/01/2005 Acquired SUNSTAR ELECTRIC CO.,
LTD. 11/30/2006 Awarded US$70 Million Export Top
Prize 09/07/2009 Changed company name to the
present name from SUNSTAR MACHINERY CO., LTD., after acquiring SUNSTART
PRECISION CO., LTD. 120111-0060236) 09/07/2009 Increased the authorized shares
to 2,000,000 shares from 100,000 KRW 09/07/2009 Increased capital to
2,084,250,000 KRW from 503,700,000 KRW 10/28/2009 Increased capital to
3,008,260,000 KRW from 2,084,250,000 KRW 11/20/2009 Increased capital to
2,504,560,000 KRW from 3,008,260,000 KRW |
|||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Park In-Chul |
Male |
Korean |
09/07/2009 |
|
Director |
Mr. |
Lee Yoon-Bong |
Male |
Korean |
09/07/2009 |
|
Director |
Mr. |
Kim Woo-Ki |
Male |
Korean |
09/07/2009 |
|
Director |
Mr. |
Kim Sung-Tae |
Male |
Korean |
09/07/2009 |
|
Director |
Mr. |
Kim Jong-Sub |
Male |
Korean |
03/31/2010 |
|
Director |
Mr. |
Lim Jong-O |
Male |
Korean |
09/07/2011 |
|
Auditor |
Mr. |
Lee Kui-Jae |
Male |
Korean |
09/07/2009 |
|
Supervisor of HQ Office |
Mr. |
Noh Hwan-Keun |
Male |
Korean |
05/30/2004 |
|
Supervisor of HQ Office |
Mr. |
Kim Dong-Hyuck |
Male |
Korean |
09/23/2011 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
209,107,169,498 |
211,226,784,179
|
6,749,752,170 |
|
|
2009 |
112,669,250,008 |
242,856,678,664 |
(-)60,350,487,964 |
|
2008 |
122,129,349,128 |
132,227,004,346 |
(-)54,228,361,249 |
|
2007 |
132,906,474,594 |
121,395,363,264 |
(-)5,222,420,742 |
|
2006 |
127,383,665,296 |
106,511,122,662 |
(-)21,439,499,276 |
|
2005 |
97,021,848,113 |
118,878,078,284 |
(-)4,437,484,244 |
|
2004 |
32,048,218,336 |
35,283,224,107 |
(-)4,188,934,296 |
|
2003 |
120,856,583,060 |
96,081,030,767 |
(-)51,908,511,704 |
|
Authorized Capital(KRW) |
1,000,000,000 |
|
Paid-Up Capital(KRW) |
2,504,560,000 |
|
Total Issues Shares |
500,912(Common : 61,000 / Preferable : 439,912) |
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
211,226,784,179
|
242,856,678,664 |
132,227,004,346 |
|
Current Assets |
96,683,604,974 |
112,152,069,548 |
103,006,286,536 |
|
-Quick Assets |
79,826,232,828 |
94,176,299,859 |
87,431,087,149 |
|
-Inventories |
16,857,372,146 |
17,975,769,689 |
15,575,199,387 |
|
Fixed Assets |
114,543,179,205 |
130,704,609,116 |
29,220,717,810 |
|
-Investment |
17,125,075,015 |
19,996,749,043 |
11,311,013,621 |
|
-Tangibles |
69,803,148,360 |
90,518,795,225 |
15,585,134,958 |
|
-Intangibles |
20,691,774,368 |
15,487,828,487 |
296,861,594 |
|
-Others |
6,923,181,462 |
4,701,236,361 |
2,027,707,637 |
|
Total Liabilities |
198,420,215,429 |
226,949,388,078 |
109,153,814,671 |
|
Current Liabilities |
183,067,028,564 |
218,411,270,182 |
106,094,601,912 |
|
Fixed Liabilities |
15,353,186,865 |
8,538,117,896 |
3,059,212,759 |
|
Capital Stock |
2,504,560,000 |
2,504,560,000 |
675,000,000 |
|
Capital Surplus |
2,208,874,786 |
79,575,342,606 |
34,775,000,000 |
|
Profit Surplus |
6,749,752,170 |
-77,366,467,820 |
-17,015,979,856 |
|
Capital Adjustment |
1,343,381,794 |
11,193,855,800 |
4,639,169,531 |
|
Total Equity |
12,806,568,750 |
15,907,290,586 |
23,073,189,675 |
|
Liab. & Shareholders Equity |
211,226,784,179 |
242,856,678,664 |
132,227,004,346 |
|
Current Liabilities |
183,067,028,564 |
218,411,270,182 |
106,094,601,912 |
|
Trade Payables |
54,020,738,917 |
44,444,468,652 |
23,089,544,636 |
|
Account Payables |
11,904,713,866 |
22,680,104,257 |
2,251,517,356 |
|
Advance Receipts |
19,635,823,891 |
32,258,715,563 |
19,494,662,511 |
|
Short-Term Borrowings |
86,976,530,423 |
106,208,639,474 |
43,026,737,006 |
|
Accrued Expenses |
2,764,719,354 |
2,156,904,726 |
2,501,819,050 |
|
Derivatives |
- |
2,946,890,448 |
14,071,283,331 |
|
Withholdings |
3,709,032,525 |
636,241,677 |
926,379,494 |
|
Guarantee Deposit Withhold |
429,240,000 |
537,670,000 |
608,458,528 |
|
Current Portion of Long-Term Debts |
31,050,000 |
124,200,000 |
124,200,000 |
|
Others |
3,595,179,588 |
6,417,435,385 |
- |
|
Fixed Liabilities |
15,353,186,865 |
8,538,117,896 |
3,059,212,759 |
|
Long-Term Borrowings |
- |
31,050,000 |
155,250,000 |
|
Long-Term
Account Payables |
- |
73,200,000 |
- |
|
Provision for Severance & Retirement |
11,903,356,154 |
10,884,102,356 |
3,960,910,160 |
|
Deferred Income Tax |
6,488,539,212 |
- |
- |
|
Guarantee Deposit Withhold |
- |
- |
113,290,000 |
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
209,107,169,498 |
112,669,250,008 |
122,129,349,128 |
|
Cost of Sold Goods |
170,398,675,208 |
82,986,664,184 |
92,754,044,208 |
|
Gross Profit |
38,708,494,290 |
29,682,585,824 |
29,375,304,920 |
|
Selling & Admin. Expenses |
34,237,926,797 |
46,953,364,621 |
25,528,182,449 |
|
Operating Income |
4,470,567,493 |
-17,270,778,797 |
3,847,122,471 |
|
Non-Operating Income |
31,814,697,837 |
14,495,550,231 |
16,152,497,831 |
|
Non-Operating Expenses |
28,073,726,145 |
57,575,259,398 |
73,784,272,901 |
|
Income Before Taxes |
8,211,539,185 |
-60,350,487,964 |
-53,784,652,599 |
|
Income Taxes Expenses |
1,461,787,015 |
- |
443,708,650 |
|
Net Income |
6,749,752,170 |
-60,350,487,964 |
-54,228,361,249 |
|
Unit :
Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows
from Operating |
4,444,315,791 |
-24,887,873,733 |
344,801,820 |
|
-Net Income |
6,749,752,170 |
-60,350,487,964 |
-54,228,361,249 |
|
-Exp.
without Cash Outflow |
28,816,697,124 |
73,859,545,846 |
51,202,305,629 |
|
-Revenue
without Cash Inflows |
-27,348,464,941 |
-4,976,679,494 |
-5,353,553,304 |
|
-Changes in
Asset/ & Liability |
-3,773,668,562 |
-33,420,252,121 |
8,724,410,744 |
|
Cash Flows
from Investing |
16,474,875,499 |
-32,275,369,105 |
-4,772,207,052 |
|
-Cash Inflow
from Investing |
45,273,627,366 |
100,996,648,800 |
74,303,922,052 |
|
-Cash
Outflows for Investing |
-28,798,751,867 |
-133,272,017,905 |
-79,076,129,104 |
|
Cash Flows
from Financing |
-19,464,739,051 |
58,481,620,082 |
3,791,503,987 |
|
-Cash
Inflows from Financing |
12,469,636,814 |
146,496,543,036 |
33,983,850,557 |
|
-Cash
Outflows from Financing |
-31,934,375,865 |
-88,014,922,954 |
-30,192,346,570 |
|
Increase/Decrease
in Cash |
1,454,452,239 |
1,379,214,404 |
-635,901,245 |
|
Cash at the
Beginning of Year |
1,906,394,642 |
527,180,238 |
1,163,081,483 |
|
Cash at the
End of Year |
3,360,846,881 |
1,906,394,642 |
527,180,238 |
|
Main Products & Services |
Industrial Sewing Machines |
|
Competitors |
UNICORN INDUSTRIAL SEWING MACHINE CORP. BROTHER BLDG., 233-8, YONGDAP-DONG,
SEONGDONG-GU, TEL:+82-2-3444-9289 FAX:+82-2-3446-2773 YANG JI INTERNATIONAL CO., LTD. 4TH FL., HACOM BLDG., 111, EULJIRO 4-GA,
JUNG-GU, TEL:+82-2-2285-4726 FAX:+82-2-2285-4729 JAE WOON CO., LTD. RM. 702, SUNG-IN BLDG., 234-86, SUNGIN
2-DONG, JONGNO-GU, TEL:+82-2-2265-8071 FAX:+82-2-2277-2174 |
(Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates-Domestic |
SUNSTAR
PRECISION CO., LTD.(120111-0060236) (28.89% held by the subject company) SUNSTAR R&C CO., LTD.(124611-0257954) (100.0% held by the subject company) JAE WOON CO., LTD.(110111-0216823) (43.33% held by the subject company) |
|
Affiliates-Overseas |
SUNSTAR HONGKONG LTD. (100.0% held by the subject company) SUNSTAR MACHINERY SHANGHAI CO., LTD.( (100.0% held by the subject company) SUNSTAR MACHINERY (100.0% held by the subject company) SUNSTAR USA INC (100.0% held by the subject company) SUNSTAR MACHINERY( (100.0% held by the subject company) BULSAN SHINSEDAL SPECIAL PRECISION CO., LTD.( (100.0% held by the subject company) |
|
Cooperative |
-Insured Company FIRST FIRE & MARINE INSURANCE CO., LTD.(110111-0017586) HANWHA GENERAL INSURANCE CO., LTD.(110111-0006456) LIG INSURANCE CO., LTD.(110111-0017859) |
(Activity & Markets)
The Subject exports
to
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.55 |
|
|
1 |
Rs.81.95 |
|
Euro |
1 |
Rs.67.57 |
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 SCs 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.