|
Report Date : |
09.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
SAMKWANG SHIPBUILDING & ENG. CO., LTD. |
|
|
|
|
Formerly Known As : |
Samkwang Shipping Co.,
Ltd. |
|
|
|
|
Registered Office : |
2-167, Manseok-dong, Dong-gu, Incheon, Korea, Zip Code 401-010 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
16.08.1954 |
|
|
|
|
Com. Reg. No.: |
121-81-10556 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Building of Steel Ships |
|
|
|
|
No. of Employees : |
33 |
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 |
|
Payment Behaviour : |
Slow |
|
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) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Company
Name |
SAMKWANG
SHIPBUILDING & ENG. CO., LTD. (Korean Company
Name : “삼광조선공업(주)”) |
|
Registered Address |
2-167, Manseok-dong, Dong-gu, Incheon,
Korea |
|
Zip Code |
401-010 |
|
Tel |
+82-32-763-1520~5 |
|
Fax |
+82-32-763-3478 |
|
E-mail |
|
|
Website |
|
|
Trading Address |
2-167,
Manseok-dong, Dong-gu, Incheon, Korea |
|
Tel |
+82-32-763-1520~5 |
|
Fax |
+82-32-763-3478 |
|
Other Address-Naedong Branch |
26-1, Nae-dong, Jung-gu, Incheon, Korea |
|
Tel |
+82-32-763-1521 |
|
Type |
Export |
|
Industry |
Building of Steel Ships |
|
Main Business |
Fire Fighting Boats, Tug Boats, Cost
Defense Ship, Prevention Boats, Excursion Boats, Barge, Administrative Boats,
Car Ferry, Steel Structure |
|
Established (mm/dd/yyyy) |
08/16/1954 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Tug boats(25111506) |
|
Sell |
Rescue ships or boats(25111603) |
|
Sell |
Dredging craft(25111504) |
|
Buy |
Iron plate(30102203) |
|
Buy |
Engines(26101500) |
|
Buy |
Marine craft systems and
subassemblies(25111900) |
|
Buy |
Pumps(40151500) |
|
Name |
Lee Sang-Kook |
|
Address |
23, Nae-dong, Jung-gu, Incheon, Korea |
|
Date of Birth |
06/17/1950 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
1,600,000,000 |
|||||||||
|
Employees |
33 |
|||||||||
|
Formation |
Co., Ltd by Shares |
|||||||||
|
Bank Details |
Hana Bank Shinhan Bank |
|||||||||
|
Corporate Registered No. |
120111-0001511 |
|||||||||
|
Business Registered No. |
121-81-10556 |
|||||||||
|
Permit & Licenses |
04/2001 ISO 90001 01/2004 ISO 9001 04/09/2004 ISO 14001 Int’l Trade No.: 14008388 |
|||||||||
|
Shareholder Position |
|
|||||||||
|
Company History |
08/16/1954 Incorporated as Yellow Sea
Transportation Co., Ltd. 04/28/1969 Changed company name to Samkwang
Shipping Co., Ltd. 09/01/1986 Changed company name to the
present name 10/31/2009 Designated as an INNO-BIZ
Company 10/01/2008 Increased capital to
1,600,000,000 KRW from 1,000,000,000 KRW |
|||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lee Sang-Kook |
Male |
Korean |
06/14/2008 |
|
Director |
Mr. |
Ahn Joo-Baik |
Male |
Korean |
06/14/2008 |
|
Director |
M/S. |
Jang Yoon-Hee |
Female |
Korean |
06/14/2008 |
|
Director |
Mr. |
Lee Dong-Dae |
Male |
Korean |
06/28/2011 |
|
Auditor |
M/S. |
Lee Bo-Ran |
Female |
Korean |
06/28/2011 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
26,972,058,715 |
34,108,584,052 |
528,273,859 |
|
|
03/2011 |
25,486,656,735 |
31,397,520,818 |
332,077,805 |
|
03/2010 |
12,780,002,557 |
31,018,961,767 |
292,313,628 |
|
Authorized Capital(KRW) |
3,500,000,000 |
|
Paid-Up Capital(KRW) |
1,600,000,000 |
|
Total Issues Shares |
320,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 03/31/2012 |
As of 03/31/2011 |
As of 03/31/2010 |
|
Total Assets |
34,108,584,052 |
31,397,520,818 |
31,018,961,767 |
|
Current Assets |
12,574,570,430 |
9,884,352,373 |
9,580,072,693 |
|
-Quick Assets |
11,630,420,591 |
8,707,293,290 |
8,514,035,543 |
|
-Inventories |
944,149,839 |
1,177,059,083 |
1,066,037,150 |
|
Fixed Assets |
21,534,013,622 |
21,513,168,445 |
21,438,889,074 |
|
-Investment |
1,181,061,078 |
1,233,014,426 |
1,069,640,586 |
|
-Tangibles |
20,010,934,804 |
20,185,686,112 |
20,267,136,914 |
|
-Intangibles |
27,585,674 |
15,152,007 |
23,895,674 |
|
-Others |
314,432,066 |
79,315,900 |
78,215,900 |
|
Total Liabilities |
19,948,043,090 |
17,765,253,715 |
17,718,772,469 |
|
Current Liabilities |
18,918,608,466 |
16,795,820,990 |
17,067,489,343 |
|
Fixed Liabilities |
1,029,434,624 |
969,432,725 |
651,283,126 |
|
Capital Stock |
1,600,000,000 |
1,600,000,000 |
1,600,000,000 |
|
Capital Surplus |
1,935,590,927 |
1,935,590,927 |
1,935,590,927 |
|
Profit Surplus |
-302,825,766 |
-831,099,625 |
-1,163,177,430 |
|
Capital Adjustment |
10,927,775,801 |
10,927,775,801 |
10,927,775,801 |
|
Total Equity |
14,160,540,962 |
13,632,267,103 |
13,300,189,298 |
|
Liab. & Shareholder’s Equity |
34,108,584,052 |
31,397,520,818 |
31,018,961,767 |
|
Current Liabilities |
18,918,608,466 |
16,795,820,990 |
17,067,489,343 |
|
Trade Payables |
4,753,680,063 |
3,747,704,375 |
1,640,132,770 |
|
Short-Term Borrowings |
6,882,000,000 |
6,956,728,029 |
8,952,310,482 |
|
Account Payables |
97,007,328 |
95,741,228 |
654,000 |
|
Advance Receipts |
4,262,012,901 |
2,897,456,150 |
2,780,922,000 |
|
Withholdings |
7,060,190 |
12,894,700 |
10,187,300 |
|
VAT Withhold |
312,077 |
421,929 |
17,640,978 |
|
Accrued Expenses |
693,701,077 |
953,874,579 |
681,132,588 |
|
Accrued Income Tax |
141,834,830 |
0 |
2,984,509,225 |
|
Current Portion of Long-Term Debts |
2,081,000,000 |
2,131,000,000 |
- |
|
Fixed Liabilities |
1,029,434,624 |
969,432,725 |
651,283,126 |
|
Long-Term Borrowings |
243,000,000 |
324,000,000 |
50,000,000 |
|
Provision for Severance & Retirement |
1,039,157,836 |
864,314,116 |
731,244,209 |
|
Leasehold Deposit Received |
57,500,000 |
62,000,000 |
73,000,000 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of 03/31/2012 |
As of 03/31/2011 |
As of 03/31/2010 |
|
Sales |
26,972,058,715 |
25,486,656,735 |
12,780,002,557 |
|
Cost of Sold Goods |
24,776,901,796 |
24,151,895,289 |
10,792,555,195 |
|
Gross Profit |
2,195,156,919 |
1,334,761,446 |
1,987,447,362 |
|
Selling & Admin. Expenses |
1,098,309,569 |
900,469,411 |
927,277,331 |
|
Operating Income |
1,096,847,350 |
434,292,035 |
1,060,170,031 |
|
Non-Operating Income |
629,859,022 |
799,299,952 |
1,292,246,566 |
|
Non-Operating expenses |
1,052,404,643 |
901,514,182 |
2,060,102,969 |
|
Income Before Taxes |
674,301,729 |
332,077,805 |
292,313,628 |
|
Income Taxes Expenses |
146,027,870 |
0 |
0 |
|
Net Income |
528,273,859 |
332,077,805 |
292,313,628 |
Cash
Flows
|
|||
|
Unit : Korean Won |
As of 03/31/2012 |
As of 03/31/2011 |
As of 03/31/2010 |
|
Cash Flows from Operating |
2,429,815,298 |
1,961,406,268 |
2,231,302,804 |
|
-Net Income |
528,273,859 |
332,077,805 |
292,313,628 |
|
-Exp. without Cash Outflow |
592,526,269 |
530,338,468 |
1,107,124,170 |
|
-Revenue without Cash Inflows |
-171,052 |
-3,163,255 |
-871,698,487 |
|
-Changes in Asset/ & Liability |
1,309,186,222 |
1,102,153,250 |
1,703,563,493 |
|
Cash Flows from Investing |
66,907,036 |
-1,066,808,754 |
10,461,810,754 |
|
-Cash Inflow from Investing |
637,722,557 |
1,363,636 |
10,621,375,344 |
|
-Cash Outflows for Investing |
-570,815,521 |
-1,068,172,390 |
-159,564,590 |
|
Cash Flows from Financing |
-210,228,029 |
-2,586,091,678 |
-11,017,366,700 |
|
-Cash Inflows from Financing |
0 |
405,000,000 |
546,124,075 |
|
-Cash Outflows from Financing |
-210,228,029 |
-2,991,091,678 |
-11,563,490,775 |
|
Increase/Decrease in Cash |
2,286,494,305 |
-1,691,494,164 |
1,675,746,858 |
|
Cash at the Beginning of Year |
29,304,362 |
1,720,798,526 |
45,051,668 |
|
Cash at the End of Year |
2,315,798,667 |
29,304,362 |
1,720,798,526 |
|
Main Products & Services |
Fire Fighting Boats, Tug Boats, Cost Defense Ship, Prevention Boats,
Excursion Boats, Barge, Administrative Boats, Car Ferry, Steel Structure |
|
Competitors |
SPP SHIP BUILDING CO., LTD. 1609-4, HWANG-RI, GWANGDO-MYEON, TONGYEONG-SI,
GYEONGSANGNAM-DO, KOREA TEL:+82-55-649-6801 FAX:+82-55-649-6807 SAMHO SHIPBUILDING CO., LTD. 459-6, DONAM-DONG, TONGYEONG-SI,
GYEONGSANGNAM-DO, KOREA TEL:+82-55-640-9114 FAX:+82-55-648-2670 NOK BONG SHIP BUILDING CO., LTD. 21-4, SEONGPO-RI, SADEUNG-MYEON, GEOJE-SI,
GYEONGSANGNAM-DO, KOREA TEL:+82-55-633-5711 FAX:+82-55-634-3322 |
(Subsidiaries, Joint-Venture & Affiliates)
|
Cooperative Enterprise |
-Insured Company DONGBU INSURANCE CO., LTD.(110111-0095285) |
(Activity & Markets)
Not Available.
Not Available.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.15 |
|
UK Pound |
1 |
Rs.86.00 |
|
Euro |
1 |
Rs.68.31 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.