MIRA INFORM REPORT
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Report Date : |
16.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
HANWHA ENGINEERING & CONSTRUCTION
CORPORATION |
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|
|
|
Registered Office : |
573-2, Daeya-dong, Siheung-si, |
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|
|
Country : |
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|
|
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Financials (as on) : |
31.12.2011 |
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|
|
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Date of Incorporation : |
02.07.2002 |
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Com. Reg. No.: |
104-81-73406 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Construction of Highways, Streets and Roads |
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|
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No. of Employees
: |
1,992 |
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 : |
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, 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 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
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Company
Name |
HANWHA
ENGINEERING & CONSTRUCTION CORPORATION (Trade Name :
HANWHA E&C) (Korean Company
Name : “(주)한화건설”) |
|
Registered Address |
573-2, Daeya-dong, Siheung-si, |
|
Building |
8th Fl., Mobidik Bldg. |
|
Zip Code |
429-010 |
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Tel |
+82-31-317-2380 |
|
Fax |
+82-31-317-2381 |
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E-mail |
|
|
Website |
|
|
Trading Address |
5th Fl., Hanhwa Bldg., 1, Janggyo-dong,
Jung-gu, |
|
Tel |
+82-2-729-2255 |
|
Fax |
+82-2-729-2302 |
|
Type |
Export/Import |
|
Industry |
Construction of Highways, Streets and Roads |
|
Main Business |
Superhighway Construction, Bridge Construction, Apartment
Construction, Petrochemistry Plant Construction, Water Supply And Drainage
Processing Equipment Construction, Incinerator Equipment |
|
Sub
Business |
Construction of Industrial Plants |
|
Established (mm/dd/yyyy) |
07/02/2002 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Plumbing system construction(72102303) |
|
Sell |
Infrastructure construction(72131700) |
|
Sell |
Commercial or industrial construction(72131600) |
|
Sell |
Highway or road paving or
surfacing(72131701) |
|
Sell |
Land reclamation services(77111603) |
|
Sell |
General building construction(72130000) |
|
Sell |
Refuse collection and disposal(76121500) |
|
Sell |
Sludge disposal(76121603) |
|
Sell |
Residential construction(72131500) |
|
Sell |
Pollution tracking and monitoring and
rehabilitation(77120000) |
|
Name |
Kim Hyun-Chung |
|
Date of Birth |
10/18/1950 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
140,000,000,000 |
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|
Employees |
1,992 |
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|
Formation |
Co., Ltd by Shares A Company of HANWHA GROUP |
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Bank Details |
Woori Bank-31ro Branch |
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Corporate Registered No. |
110111-2558405 |
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Business Registered No. |
104-81-73406 |
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Permit & Licenses |
09/04/1998 ISO 14001 09/11/1998 ISO 9001 2009 GD Mark |
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Shareholder Position |
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Company History |
07/02/2002 Incorporated as the present name |
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|
|
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Job Description |
Title |
Name |
Sex |
Nationality |
Date of Birth |
|
Chairman & CEO |
Mr. |
Kim
Seung-Yon |
Male |
Korean |
1952.02.07 |
|
President & CEO / Overseas |
Mr. |
Kim Hyun-Chung |
Male |
Korean |
1950.10.18 |
|
President & CEO / Domestic |
Mr. |
Lee Keun-Po |
Male |
Korean |
1951.10.10 |
|
Vice President |
Mr. |
Jin Young-Dae |
Male |
Korean |
1952.03.06 |
|
Auditor |
Mr. |
Han Kwon-Tae |
Male |
Korean |
1955.03.22 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2,745,247,447,362 |
4,456,148,747,992 |
17,559,301,165 |
|
|
(*)2010 |
2,637,413,762,274 |
4,038,299,487,031 |
-51,488,060,243 |
|
2009 |
2,344,380,166,388 |
3,462,236,898,272 |
76,942,245,040 |
|
2008 |
2,001,133,143,851 |
3,594,536,794,905 |
82,365,704,509 |
|
2007 |
1,676,199,041,436 |
2,995,314,844,720 |
103,552,437,981 |
|
2006 |
1,377,317,211,356 |
1,849,020,260,541 |
67,312,760,989 |
|
2005 |
1,245,975,857,331 |
1,703,217,421,733 |
57,843,367,071 |
(*)2010 and 2011 ‘s figures are
based on the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
400,000,000,000 |
|
Paid-Up Capital(KRW) |
140,000,000,000 |
|
Total Issues Shares |
28,000,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Total Assets |
4,456,148,747,992 |
4,038,299,487,031 |
|
|
Current Assets |
2,005,263,149,895 |
1,696,280,094,985 |
|
|
Cash & Cash
Equivalents |
205,815,936,699 |
33,021,662,241 |
|
|
Other Finance Assets |
22,210,899,271 |
13,215,350,234 |
|
|
Trade Receivables
& Other Receivables |
1,348,601,953,791 |
1,246,372,380,099 |
|
|
Other Current Assets |
316,557,359,473 |
272,113,936,281 |
|
|
Inventories |
96,874,514,987 |
79,560,039,827 |
|
|
Assets to be Sold |
15,202,485,674 |
51,996,726,303 |
|
|
Non-Current Assets |
2,450,885,598,097 |
2,342,019,392,046 |
|
|
Marketable Financial
Instruments |
250,997,474,777 |
296,285,556,997 |
|
|
Other Finance Assets |
256,172,338,166 |
143,620,275,551 |
|
|
Investment_Related
Companies |
1,535,450,007,330 |
1,514,177,259,126 |
|
|
Investment_Real
Estates |
324,861,953,604 |
323,370,997,421 |
|
|
Tangibles |
51,828,266,957 |
37,191,658,886 |
|
|
Intangibles |
31,575,557,263 |
27,373,644,065 |
|
|
Total
Liabilities |
3,183,963,793,400 |
2,737,804,110,182 |
|
|
Current Liabilities |
2,269,118,422,964 |
1,904,916,950,104 |
|
|
Trade Payables &
Other Payables |
949,381,490,387 |
639,020,704,613 |
|
|
Short-Term Borrowings |
1,078,086,770,765 |
1,155,659,163,392 |
|
|
Other Current
Financial Debts |
70,509,679,973 |
51,519,767,707 |
|
|
Provisions |
500,000 |
500,000 |
|
|
Other Current
Liabilities |
156,696,069,638 |
45,778,793,553 |
|
|
Deferred Income Tax
Credit |
14,443,912,201 |
12,938,020,839 |
|
|
Non-Current Liabilities |
914,845,370,436 |
832,887,160,078 |
|
|
Long-Term Borrowings |
790,719,640,039 |
721,325,810,049 |
|
|
Other Finance Debts |
4,175,770,546 |
746,066,922 |
|
|
Confirmed Salaries |
49,610,072,774 |
32,482,724,097 |
|
|
Provisions |
34,447,834,712 |
20,958,051,844 |
|
|
Other Non-Current
Debts |
- |
100,000 |
|
|
Deferred Income Tax
Credit |
35,892,052,365 |
57,374,407,166 |
|
|
Capital Stock |
140,000,000,000 |
140,000,000,000 |
|
|
Capital Surplus |
631,931,650,139 |
631,931,650,139 |
|
|
Others |
74,566,381,839 |
112,198,550,200 |
|
|
Profit Surplus |
425,686,922,614 |
416,365,176,510 |
|
|
Total Equity |
1,272,184,954,592 |
1,300,495,376,849 |
|
|
Liab. &
Shareholder’s Equity |
4,456,148,747,992 |
4,038,299,487,031 |
|
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
3,987,747,674,329 |
3,462,236,898,272 |
3,594,536,794,905 |
|
Current Assets |
1,593,211,897,464 |
1,393,977,466,161 |
1,728,484,424,901 |
|
-Quick Assets |
1,513,651,857,637 |
1,315,536,121,226 |
1,118,238,509,629 |
|
-Inventories |
79,560,039,827 |
78,441,344,935 |
610,245,915,272 |
|
Fixed Assets |
2,394,535,776,865 |
2,068,259,432,111 |
1,866,052,370,004 |
|
-Investment |
2,031,367,596,067 |
1,674,361,553,470 |
1,481,463,099,175 |
|
-Tangibles |
291,300,876,998 |
279,655,070,572 |
313,541,482,685 |
|
-Intangibles |
4,674,683,759 |
4,038,585,419 |
4,311,727,948 |
|
-Others |
67,192,620,041 |
110,204,222,650 |
66,736,060,196 |
|
Total Liabilities |
2,609,045,093,298 |
2,227,670,726,416 |
2,480,753,698,433 |
|
Current Liabilities |
1,710,678,498,265 |
1,695,160,134,280 |
1,526,852,869,020 |
|
Fixed Liabilities |
898,366,595,033 |
532,510,592,136 |
953,900,829,413 |
|
Capital Stock |
140,000,000,000 |
140,000,000,000 |
140,000,000,000 |
|
Capital Surplus |
631,931,650,139 |
631,931,650,139 |
631,931,650,139 |
|
Profit Surplus |
515,667,838,573 |
436,361,502,886 |
360,163,093,028 |
|
Capital Adjustment |
91,103,092,319 |
26,273,018,831 |
-18,311,646,695 |
|
Total Equity |
1,378,702,581,031 |
1,234,566,171,856 |
1,113,783,096,472 |
|
Liab. & Shareholder’s Equity |
3,987,747,674,329 |
3,462,236,898,272 |
3,594,536,794,905 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Sales |
2,745,247,447,362 |
2,637,413,762,274 |
|
|
Cost of Sold Goods |
2,430,130,163,414 |
2,324,564,822,452 |
|
|
Gross Profit |
315,117,283,948 |
312,848,939,822 |
|
|
Selling & Admin.
Expenses |
203,755,867,859 |
172,176,698,748 |
|
|
Other Operating
Income |
112,404,342,494 |
63,891,653,049 |
|
|
Other Operating
Expenses |
46,312,381,733 |
135,740,172,618 |
|
|
Operating Income |
177,453,376,850 |
68,823,721,505 |
|
|
Finance Income |
15,297,156,536 |
28,616,545,500 |
|
|
Finance Expenses |
123,489,905,703 |
110,295,846,602 |
|
|
Non-Operating Income |
-20,315,343,369 |
-47,366,098,706 |
|
|
Income Before Taxes |
48,945,284,314 |
-60,221,678,303 |
|
|
Income Taxes Expenses |
31,385,983,149 |
-8,733,618,060 |
|
|
Net Income |
17,559,301,165 |
-51,488,060,243 |
|
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
2,628,217,903,961 |
2,344,380,166,388 |
2,001,133,143,851 |
|
Cost of Sold Goods |
2,312,914,477,157 |
2,080,220,839,526 |
1,736,496,982,250 |
|
Gross Profit |
315,303,426,804 |
264,159,326,862 |
264,636,161,601 |
|
Selling & Admin. Expenses |
174,149,863,979 |
129,099,763,504 |
134,184,001,984 |
|
Operating Income |
141,153,562,825 |
135,059,563,358 |
130,452,159,617 |
|
Non-Operating Income |
279,318,909,397 |
264,826,713,716 |
146,890,472,589 |
|
Non-Operating Expenses |
313,599,052,759 |
269,882,220,265 |
196,978,726,174 |
|
Ordinary Income |
106,873,419,463 |
130,004,056,809 |
80,363,906,032 |
|
Special Income |
- |
- |
- |
|
Income Before Taxes |
106,873,419,463 |
130,004,056,809 |
80,363,906,032 |
|
Income Taxes Expenses |
27,567,083,776 |
53,061,811,769 |
-2,001,798,477 |
|
Net Income |
79,306,335,687 |
76,942,245,040 |
82,365,704,509 |
Cash
Flows
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Operating Activities Cash Flows |
439,514,690,228 |
-188,371,413,155 |
|
|
Cash Flows from
Investing |
-133,663,897,591 |
-103,639,440,471 |
|
|
Cash Flows from
Financing |
-132,790,335,365 |
266,172,587,036 |
|
|
Increase/Decrease in
Cash |
173,060,457,272 |
-25,838,266,590 |
|
|
Cash at the Beginning
of Year |
33,021,662,241 |
58,860,990,295 |
|
|
Cash at the End of
Year |
205,815,936,699 |
33,021,662,241 |
|
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows from Operating |
-292,739,077,682 |
409,207,853,805 |
-80,522,872,124 |
|
-Net Income |
79,306,335,687 |
76,942,245,040 |
82,365,704,509 |
|
-Exp. without Cash Outflow |
218,975,709,680 |
146,593,241,146 |
99,181,859,607 |
|
-Revenue without Cash Inflows |
-233,983,143,677 |
-197,665,847,747 |
-108,492,196,135 |
|
-Changes in Asset/ & Liability |
-357,037,979,372 |
383,338,215,366 |
-153,578,240,105 |
|
Cash Flows from Investing |
-118,242,292,982 |
-170,732,831,630 |
-180,338,202,533 |
|
-Cash Inflow from Investing |
148,452,724,129 |
137,532,518,604 |
56,910,316,813 |
|
-Cash Outflows for Investing |
-266,695,017,111 |
-308,265,350,234 |
-237,248,519,346 |
|
Cash Flows from Financing |
385,142,042,610 |
-224,425,579,266 |
290,872,500,000 |
|
-Cash Inflows from Financing |
1,399,447,245,411 |
668,013,915,305 |
921,652,500,000 |
|
-Cash Outflows from Financing |
-1,014,305,202,801 |
-892,439,494,571 |
-630,780,000,000 |
|
Increase/Decrease in Cash |
-25,839,328,054 |
14,049,442,909 |
30,011,425,343 |
|
Cash at the Beginning of Year |
58,860,990,295 |
44,811,547,386 |
14,800,122,043 |
|
Cash at the End of Year |
33,021,662,241 |
58,860,990,295 |
44,811,547,386 |
|
Main Products & Services |
Superhighway Construction, Bridge Construction, Apartment Construction,
Petrochemistry Plant Construction, Water Supply And Drainage Processing
Equipment Construction, Incinerator Equipment |
|
Customers |
AAC Ethyleneamines Co NAFTEC Saudi Arabian Mining Co Power and Water Utility Company for Jubail
and Yanbu(MARAFIQ) Samra Electric Power Generating
Company(SEPGCO) Kuwait Oil Tanker Company MARAFIQ KOTC KOREA NATIONAL HOUSING CORPORATION(114671-0001381) KOREA EXPRESSWAY CORPORATION(131171-0000019) KOREA LAND CORPORATION(114271-0001818) KOREA WATER RESOURCES CORPORATION(164171-0000052) HYUNDAI ENGINEERING CO., LTD.(110111-2153015) |
|
Competitors |
DAEWOO ENGINEERING & CONSTRUCTION CO.,
LTD.(110111-2137895) TEL:+82-2-2288-3114 FAX:+82-2-2288-3113 SAMSUNG C&T CORPORATION(110111-0002975) 1321-20, SEOCHO 2-DONG, SEOCHO-GU, TEL:+82-2-2145-2114 FAX:+82-2-2145-3114 GS ENGINEERING & CONSTRUCTION
CORP(110111-0002694) GS YEOKJEON BLDG., 537, NAMDAEMUNNO 5-GA,
JUNG-GU, TEL:+82-2-728-1112~4 FAX:+82-2-728-1203 DAELIM INDUSTRIAL CO., LTD.(110111-0084915) DAELIM BLDG., 146-12, SUSONG-DONG,
JONGNO-GU, TEL:+82-2-2011-7114 FAX:+82-2-2011-8000 |
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates-Domestics |
HANWHA CORP (110111-0002959) HANWHA CHEMICAL CORPORATION
(110111-0360935) HANWHA TIMEWORLD CO., LTD. (160111-0003410) HANWHA SECURITIES CO.,LTD (110111-0003155) HANWHA NON-LIFE INSURANCE CO., LTD.
(110111-0006456) HANWHA LIVING & CREATIVE CORP
(110111-1725930) HANWHA POLYDREAMER CO.,LTD (161511-0001861) HANWHA STATION DEVELOPMENT CO., LTD.
(110111-0544133) HANWHA CHONGNYANGNI STATION DEVELOPMENT
CO., LTD. (110111-3008376) HANWHA INVESTMENT TRUST MANAGEMENT CO.,
LTD. (110111-0571201) HANWHA VC CORP. (110111-1912909) KLI INSURANCE INVESTIGATION CO., LTD.
(110111-3192913) KOREA TELE MARKETING & SERVICES CO.,
LTD (110111-3199349) RADISSON SEOUL PLAZA HOTEL (110111-0154776) HAN COMM. INC. (110111-0362957) ENVIRONMENT FACILITIES MANAGEMENT
CORPORATION (141411-0006564) DREAMPHARMA CORP. (110111-1181025) HANWHA S&C CO., LTD (110111-2204470) GUNPO ECOTECH CORPORATION (110111-2629941) HANWHA 63 CITY CORPORATION (110111-0425622) DAEDEOK TECHNO VALLEY CO., LTD
(160111-0115059) YANGJU ENVIRO CORPORATION (110111-2503244) HANWHA CITY DEVELOPMENT CO.,LTD
(160111-0182230) KUMDAN ECOTECH CORPORATION (110111-3205659) HANWHA GALLERIA CO., LTD.( 110111-0202989) HANWHA TOUR HANWHA RESORT CO.,LTD (110111-0249709) KOREA LIFE INSURANCE CO.,LTD
(110111-0003204) HANWHA EAGLES PROFESSIONAL BASEBALL CLUB
(160111-0007214) DANGJIN TECHNO POLIS CO.,
LTD(165011-0022657) AZDEL INC. HANWHA INDEPENDENT ENERGY CORPORATION(110111-3780932) GIMHAE TECHNO VALLEY
CO.,LTD.(195511-0120447) HANWHA CHEMICAL OVERSEAS HOLDINGS, CO.,
LTD.(110111-4137207) |
|
Affiliates-Overseas |
HANWHA ( HANWHA CHEMICAL MAXFORMA INCORPORATED. UNION INDUSTRIAL DEVELOPMENT INC. BOR DEVELOPMENT LLC. MAXFORMA HOLDINGS INCORPORATED MAXFORMA PLASTICS LLC. HANWHA CHEMICAL ( HANWHA CHEMICAL ( UNIVERSAL BEARINGS INC. HANWHA AMERICA DEVELOPMENT INC. HANWHA HANWHA DEVELOPMENT SERVICES LLC. LANCASTER DEVELOPMENT GROUP LLC. HANWHA INTERNATIONAL(S) PTE LTD. MGM RT. ACROPARK GOLF CORP. HANWHA BANK HUNGARY LTD. HANWHA FIRST INVESTMENT CO.,BV HANWHA HANWHA SONORAN LLC. SONORAN HANWHA SAUDI CONTRACTING CO. LTD. HANWHA
RESOURCES (CANADA) LTD. (12/14/2007 Joined as an Affiliated company) HANWHA L&C CANADA INC. (01/02/2008
Joined as an Affiliated company) HANWHA PARCEL LLC(07/02/2009 Joined as an
Affiliated company) HANWHA INTERNACIONAL DO BRASIL
INTERMEDIACOES DE NEGOCIOS LTDA.(08/19/2009 Joined as an Affiliated company) HANWHA CORSICANA LLC(07/07/2009 Joined as
an Affiliated company) HANWHA PARCEL O LLC(07/03/2009 Joined as an
Affiliated company) |
|
Overseas Office |
HANWHA AMERICA DEVELOPMENT, INC(HAD) (100.00% held by the subject
company) 303, HANWHA SAUDI CONTRACTING CO., LTD.(HSCC) (100.00% held by the subject
company) EASTERN CEMENT TOWER, 5TH FL.,
506, KING FAHED ROAD, KLOBAR-DAMMAM HIGHWAY, ALKHOBAR, KINGDOM OF SAUDI
ARABIA HANWHA CANADA DEVELOPMENT, INC.(HCDI) TEL:+1-403-984-9583 |
|
Subsidiary |
YANGJU ENVIRO CORPORATION (110111-2503244) (100.00% held by the subject company) KUMDAN ECOTECH CORPORATION (110111-3205659) (100.00% held by the subject company) CHILGOK ENVIRO CO., LTD.( 175211-0014541) (51.00% held by the subject company) YEOSU SEA WORLD CORPORATION(110111-4284602) (80.0% held by the subject company) ILSAN SEAWORLD,CO.,LTD.(110111-4368901) (46.29% held by the subject company) |
|
Corporate Ownership |
HANWHA CORP(110111-0002959) |
|
Major Shareholders |
HANWHA CORP(110111-0002959) |
|
Cooperative |
-Insured Company HANWHA GENERAL INSURANCE CO., LTD.(110111-0006456) |
(Activity & Markets)
|
Sales/ Unit :Mil
KRW |
2011 |
2010 |
2009 |
|
Export |
713,778 |
476,745 |
268,307 |
|
Domestic |
2,014,449 |
2,138,478 |
2,053,987 |
|
Others |
17,020 |
12,995 |
22,086 |
|
Total |
2,745,247 |
2,628,218 |
2,344,380 |
The Subject
provides the services to Middle East and
There are 8 cases
filed as Defendant(s)/ Debtor(s)/ Respondent(s) amounting 118,497,000,000 KRW.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.42 |
|
|
1 |
Rs.81.93 |
|
Euro |
1 |
Rs.67.67 |
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.