|
Report Date : |
13.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
KC&A CORPORATION |
|
|
|
|
Registered Office : |
205-5, Nonhyeon 1-dong, Gangnam-gu, Seoul, Korea, 4th Fl., Soosan Bldg., Zip Code 135-545 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
26.12.1990 |
|
|
|
|
Com. Reg. No.: |
211-86-04269 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Wholesale of Industrial Basic Chemicals |
|
|
|
|
No. of Employees : |
36 |
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 |
|
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) |
|
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 |
KC&A
CORPORATION (Korean Company
Name : “(주)케이씨엔에이”) |
|
Registered Address |
205-5, Nonhyeon 1-dong, Gangnam-gu, Seoul,
Korea |
|
Building |
4th Fl., Soosan Bldg. |
|
Zip Code |
135-545 |
|
Tel |
+82-2-3440-4200 |
|
Fax |
+82-2-545-4807 |
|
E-mail |
phyoon@kcna.co.kr
; dongwansuh@kcna.co.kr ; yj@kcna.co.kr ; jtkim@kcna.co.kr |
|
Website |
|
|
Trading Address |
4th
Fl., Soosan Bldg., 205-5, Nonhyeon 1-dong, Gangnam-gu, Seoul, Korea |
|
Tel |
+82-2-3440-4200 |
|
Fax |
+82-2-545-4807 |
|
Other Address |
123, Cheonggye-ri, Dongtan-myeon,
Hwaseong-si, Gyeonggi-do 445-811 Korea |
|
Type |
Export/Import |
|
Industry |
Wholesale of Industrial Basic Chemicals |
|
Main Business |
Polyethylene, Polypropylene, Acetaldehyde, Ethyl Acetate, Ethylamines |
|
Established (mm/dd/yyyy) |
12/26/1990 |
The Subject Company
occupies the premises of registered HQ address by leasing base.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Polypropylene resin(13111019) |
|
Sell |
Polyethylene(13111016) |
|
Sell |
Chemistry reagents or solutions(41116105) |
|
Sell |
Aldehydes or its substitutes(12352114) |
|
Name |
Lee Jae-An |
|
Address |
Suite 102-1802, 425, Cheonho-dong,
Gangdong-gu, Seoul, Korea |
|
Date of Birth |
05/08/1957 |
|
Title |
Co-President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
3,167,600,000 |
|||||||||
|
Employees |
36 |
|||||||||
|
Formation |
Co., Ltd by shares |
|||||||||
|
Bank Details |
Hana Bank-Nonhyun Central Branch Woori Bank-Seocho Dong Branch Citibank, Korea Korea Exchange Bank |
|||||||||
|
Corporate Registered No. |
110111-0739205 |
|||||||||
|
Business Registered No. |
211-86-04269 |
|||||||||
|
Permit & Licenses |
06/2001 ISO 9001 Certificate Int’l Trade No.: 191256 |
|||||||||
|
Shareholder Position |
|
|||||||||
|
Company History |
12/1990 Incorporated as “Korea Alcohol
Trading Co." 09/1992 Agreed on the contract for sole
agency with KAI 06/1993 Changed company name to Korea
Chemicals Corporation 02/27/1996 Increased the authorized shares
to 1,200,000 shares from 320,000 shares 12/2001 Increased capital to 4,000,000,000
KRW 06/2001 ISO 9001 Certificate 09/2002 Conclusion of the contract for
sole agency with IEC 08/01/2003 Changed company name to the
present name 01/2003 Establishment of the non-chemistry
department 01/30/2012 Decreased capital to
3,167,600,000 KRW from 4,000,000,000 KRW |
|||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Co-President & CEO |
Mr. |
Lee Jae-An |
Male |
Korean |
03/24/2003 |
|
Co-President & CEO |
Mr. |
Ji Yong-Suck |
Male |
Korean |
02/27/1999 |
|
Director |
Mr. |
Ji Chang-Soo |
Male |
Korean |
02/28/1994 |
|
Director |
Mr. |
Kang Sung-Woo |
Male |
Korean |
03/17/2011 |
|
Director |
Mr. |
Kim Joon-Tae |
Male |
Korean |
03/19/2009 |
|
Auditor |
Mr. |
Chong Hwan-Bum |
Male |
Korean |
04/21/2010 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
644,537,648,245 |
174,983,791,017 |
4,898,903,059 |
|
|
2010 |
483,242,951,698 |
132,655,297,050 |
5,651,811,558 |
|
2009 |
392,241,447,323 |
121,078,672,288 |
5,985,098,308 |
|
2008 |
403,158,724,565 |
80,568,346,618 |
7,633,040,893 |
|
2007 |
284,629,104,650 |
92,311,617,468 |
5,714,298,975 |
|
2006 |
201,296,058,206 |
69,607,430,687 |
2,645,604,874 |
|
2005 |
197,165,716,159 |
73,019,839,816 |
2,182,270,274 |
|
2004 |
139,373,269,789 |
52,643,742,839 |
4,258,191,472 |
|
2003 |
103,313,443,198 |
43,005,257,983 |
1,322,207,646 |
|
Authorized Capital(KRW) |
6,000,000,000 |
|
Paid-Up Capital(KRW) |
3,167,600,000 |
|
Total Issues Shares |
633,520 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Total Assets |
174,983,791,017 |
132,655,297,050 |
121,078,672,288 |
|
Current Assets |
119,129,570,498 |
85,276,261,538 |
75,862,667,240 |
|
-Quick Assets |
114,222,370,600 |
76,392,183,262 |
67,462,868,476 |
|
-Inventories |
4,907,199,898 |
8,884,078,276 |
8,399,798,764 |
|
Fixed Assets |
55,854,220,519 |
47,379,035,512 |
45,216,005,048 |
|
-Investment |
51,822,430,356 |
45,418,344,916 |
43,168,087,336 |
|
-Tangibles |
237,666,672 |
121,319,138 |
98,415,466 |
|
-Intangibles |
3,794,123,491 |
1,839,371,458 |
1,949,502,246 |
|
Total Liabilities |
114,390,864,410 |
80,280,803,261 |
73,263,452,821 |
|
Current Liabilities |
106,733,741,057 |
73,979,397,306 |
67,477,257,402 |
|
Fixed Liabilities |
7,657,123,353 |
6,301,405,955 |
5,786,195,419 |
|
Capital Stock |
4,000,000,000 |
4,000,000,000 |
4,000,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
56,993,698,630 |
48,938,106,693 |
43,286,295,135 |
|
Capital Adjustment |
-400,772,023 |
-563,612,904 |
528,924,332 |
|
Total Equity |
60,592,926,607 |
52,374,493,789 |
47,815,219,467 |
|
Liab. & Shareholder’s Equity |
174,983,791,017 |
132,655,297,050 |
121,078,672,288 |
|
Current
Liabilities |
106,733,741,057 |
73,979,397,306 |
67,477,257,402 |
|
Trade
Payables |
69,578,240,900 |
63,686,106,824 |
48,723,290,628 |
|
Short-Term
Borrowings |
31,020,870,038 |
6,795,966,817 |
13,270,179,607 |
|
Account
Payables |
1,024,101,193 |
794,447,378 |
1,220,767,346 |
|
Advance
Receipts |
2,689,582,883 |
2,045,914,101 |
3,460,174,578 |
|
Withholdings |
183,628,542 |
54,288,286 |
57,189,880 |
|
VAT Withhold |
1,545,800,113 |
- |
- |
|
Derivatives |
45,492,099 |
10,915,987 |
- |
|
Accrued
Expenses |
- |
- |
3,300,000 |
|
Accrued
Income Tax |
646,025,289 |
591,757,913 |
484,832,963 |
|
Accrued
Dividends |
- |
- |
257,522,400 |
|
Fixed
Liabilities |
7,657,123,353 |
6,301,405,955 |
5,786,195,419 |
|
Deferred Income Tax Credit |
7,483,009,694 |
6,172,847,177 |
5,634,039,477 |
|
Provision for Severance & Retirement |
710,608,840 |
430,884,260 |
512,547,390 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Sales |
644,537,648,245 |
483,242,951,698 |
392,241,447,323 |
|
Cost of Sold Goods |
628,157,030,956 |
467,837,702,865 |
377,144,827,278 |
|
Gross Profit |
16,380,617,289 |
15,405,248,833 |
15,096,620,045 |
|
Selling & Admin. Expenses |
11,051,374,336 |
10,540,527,583 |
11,111,481,977 |
|
Operating Income |
5,329,242,953 |
4,864,721,250 |
3,985,138,068 |
|
Non-Operating Income |
13,957,695,907 |
13,625,336,373 |
12,884,647,621 |
|
Non-Operating Expenses |
12,002,645,222 |
11,084,820,531 |
9,133,918,282 |
|
Income Before Taxes |
7,284,293,638 |
7,405,237,092 |
7,735,867,407 |
|
Income Taxes Expenses |
2,385,390,579 |
1,753,425,534 |
1,750,769,099 |
|
Net Income |
4,898,903,059 |
5,651,811,558 |
5,985,098,308 |
Cash
Flows
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Cash Flows from Operating |
-20,788,518,500 |
8,668,321,716 |
-2,048,714,916 |
|
-Net Income |
4,898,903,059 |
5,651,811,558 |
5,985,098,308 |
|
-Exp. without Cash Outflow |
2,084,345,426 |
1,767,893,702 |
906,980,121 |
|
-Revenue without Cash Inflows |
-3,539,404,167 |
-4,583,002,609 |
-4,683,799,948 |
|
-Changes in Asset/ & Liability |
-24,232,362,818 |
5,831,619,065 |
-4,256,993,397 |
|
Cash Flows from Investing |
-2,383,128,466 |
832,513,006 |
168,156,332 |
|
-Cash Inflow from Investing |
41,650,695,973 |
1,848,318,807 |
528,076,291 |
|
-Cash Outflows for Investing |
-44,033,824,439 |
-1,015,805,801 |
-359,919,959 |
|
Cash Flows from Financing |
24,224,903,221 |
-13,270,179,607 |
5,014,722,603 |
|
-Cash Inflows from Financing |
31,785,870,038 |
- |
25,505,722,603 |
|
-Cash Outflows from Financing |
-7,560,966,817 |
-13,270,179,607 |
-20,491,000,000 |
|
Increase/Decrease in Cash |
1,053,256,255 |
-3,769,344,885 |
3,134,164,019 |
|
Cash at the Beginning of Year |
2,743,368,889 |
6,512,713,774 |
3,378,549,755 |
|
Cash at the End of Year |
3,796,625,144 |
2,743,368,889 |
6,512,713,774 |
|
Main Products & Services |
Polyethylene, Polypropylene, Acetaldehyde, Ethyl Acetate, Ethylamines The Subject is acting as the charge of
sales of KOREA ALCOHOL INDUSTRIAL CO., LTD.(181211-0003728). |
|
Customers |
KOREA ALCOHOL INDUSTRIAL CO., LTD.(181211-0003728) INTERNATIONAL EASTER CO., LTD.(181211-0024740) ENF TECHNOLOGY CO., LTD.(110111-1957195) BIZMARC CORPORATION(110111-2198730) |
|
Competitors |
CHEMA INTERNATIONAL CORP. RM. 503, SAMYANG BLDG., 404-5, GALHYEON
1-DONG, EUNPYEONG-GU, SEOUL, KOREA TEL:+82-2-358-8508~9 FAX:+82-2-358-5005 JUNGJIN POLYMER 193-1, YANGPYEONGDONG 1-GA,
YEONGDEUNGPO-GU, SEOUL, KOREA TEL:+82-2-2672-9608 FAX:+82-2-2672-9613 PAARANG CO., LTD. RM. 829, LG ECLAT, 736-24, YEOKSAM 1-DONG,
GANGNAM-GU, SEOUL, KOREA TEL:+82-2-568-7069 FAX:+82-2-568-7069 |
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
KOREA ALCOHOL INDUSTRIAL CO., LTD.(181211-0003728) (29.93% held by the subject company) JINSOL ONE CO., LTD.(175411-0010496) (20.0% held by the subject company) ENF TECHNOLOGY CO., LTD.(110111-1957195) ALTRA CO., LTD.(134811-0078536) |
|
Cooperative Enterprise |
-Insured Company LIG INSURANCE CO., LTD.(110111-0017859) |
(Activity & Markets)
The Subject deals
with the companies in Japan, Saudi Arabia, UAE and South East Asia.
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.34 |
|
UK Pound |
1 |
Rs.86.45 |
|
Euro |
1 |
Rs.68.43 |
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 |
---- |
s
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.