MIRA
INFORM REPORT
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Report Date : |
25.08.2012 |
IDENTIFICATION DETAILS
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Name : |
MSC CO LTD |
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Registered Office : |
439-13, Soju-Dong, Yangsan, 626280 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
12.04.1974 |
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Legal Form : |
Public Independent Company |
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Line of Business : |
Subject is engaged in the production and sale of food additives |
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No. of Employees : |
338 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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South Korea |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address
MSC Co Ltd
439-13, Soju-Dong
Yangsan, 626280
Korea, Republic of
Tel: 82-55-3891001
Fax: 82-55-3891120
Web: www.msckorea.com
Synthesis
Employees: 338
Company Type: Public Independent
Traded: KOSDAQ: 009780
Incorporation Date: 12-Apr-1974
Auditor: E-hyun Accounting Corporation
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2011
Reporting Currency: South
Korean Won
Annual Sales: 101.6
1
Net Income: 2.3
Total Assets:
102.8 2
Market Value: 17.9
(10-Aug-2012)
Business Description
MSC Co., Ltd. is a Korean company principally engaged in the production and sale of food additives. The Company's product portfolio consists of carrageenan, used in processing of foods as suspending and emulsifying stabilizer, swelling agent, fat replacer, binder, dietary fiber, crystallization inhibitor and gelling agent in food processing; agar-agar, a non-digestible polysaccharide extracted from red algae and is used for making jellies, cookies and bacteriological cultivation bases; natural food colors, extracted from natural raw materials; concentrated juices, made from cereals, fruits, vegetables and others; beverage lines that include polyethylene telephthalate (PET) bottling line and spout-pouch filling lines, and seasoning, including snack seasoning, soup seasoning and others. The Company also provides spices, herbs, flavors, functional food ingredients and sauces. For the fiscal year ended 31 December 2010, MSC Co., Ltd.'s sales totaled W105.90B. Net income totaled W2.00B. Sales and net income are not comparable to the previous period due to the fact the Company started to report consolidated financial statement. MSC Co., Ltd. is a Korean company that is principally engaged in the production and sale of food additives. The Company also provide spices, herbs, flavors functional food.
Industry
Industry Food Processing
ANZSIC 2006: 1199 - Other Food
Product Manufacturing Not Elsewhere Classified
NACE 2002: 1589 - Manufacture
of other food products not elsewhere classified
NAICS 2002: 311999 - All Other
Miscellaneous Food Manufacturing
UK SIC 2003: 1589 - Manufacture
of other food products not elsewhere classified
US SIC 1987: 2099 - Food
Preparations, Not Elsewhere Classified
Key Executives
|
Name |
Title |
|
Gil Jae Kim |
Co-Chief Executive Officer, Director |
|
Yil Seok Kim |
Internal Auditor |
|
Jae Bong Seo |
Chief Executive Officer |
|
Steve Kim |
Manager-Export & Import |
|
Byung Sung Park |
General Manager-Overseas |
Significant Developments
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* number of significant developments within the last 12 months
News
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Financial Summary
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Stock Snapshot
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1 - Profit & Loss Item Exchange Rate: USD 1 = KRW 1107.891
2 - Balance Sheet Item Exchange Rate: USD 1 = KRW 1152
Corporate Overview
Location
439-13, Soju-Dong
Yangsan, 626280
Korea, Republic of
Tel: 82-55-3891001
Fax: 82-55-3891120
Web: www.msckorea.com
Quote Symbol - Exchange
009780 - KOSDAQ
Sales KRW(mil): 112,592.9
Assets KRW(mil): 118,428.0
Employees: 338
Fiscal Year End: 31-Dec-2011
Industry: Food
Processing
Incorporation Date: 12-Apr-1974
Company Type: Public
Independent
Quoted Status: Quoted
Co-Chief Executive Officer,
Director: Ho Seok Kim
Company Web Links
Company Contact/E-mail
Corporate History/Profile
Home Page
News Releases
Products/Services
Contents
Industry Codes
Business Description
Financial Data
Market Data
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
1199 - Other Food Product Manufacturing Not Elsewhere Classified
1211 - Soft Drink, Cordial and Syrup Manufacturing
1140 - Fruit and Vegetable Processing
NACE 2002 Codes:
1589 - Manufacture of other food products not elsewhere classified
1533 - Processing and preserving of fruit and vegetables not
elsewhere classified
NAICS 2002 Codes:
311411 - Frozen Fruit, Juice, and Vegetable Manufacturing
311999 - All Other Miscellaneous Food Manufacturing
311930 - Flavoring Syrup and Concentrate Manufacturing
US SIC 1987:
2087 - Flavoring Extracts and Flavoring Syrups, Not Elsewhere
Classified
2099 - Food Preparations, Not Elsewhere Classified
2037 - Frozen Fruits, Fruit Juices, and Vegetables
UK SIC 2003:
1533 - Processing and preserving of fruit and vegetables not
elsewhere classified
1589 - Manufacture of other food products not elsewhere classified
Business
Description
MSC Co., Ltd. is a Korean company principally engaged in the production and sale of food additives. The Company's product portfolio consists of carrageenan, used in processing of foods as suspending and emulsifying stabilizer, swelling agent, fat replacer, binder, dietary fiber, crystallization inhibitor and gelling agent in food processing; agar-agar, a non-digestible polysaccharide extracted from red algae and is used for making jellies, cookies and bacteriological cultivation bases; natural food colors, extracted from natural raw materials; concentrated juices, made from cereals, fruits, vegetables and others; beverage lines that include polyethylene telephthalate (PET) bottling line and spout-pouch filling lines, and seasoning, including snack seasoning, soup seasoning and others. The Company also provides spices, herbs, flavors, functional food ingredients and sauces. For the fiscal year ended 31 December 2010, MSC Co., Ltd.'s sales totaled W105.90B. Net income totaled W2.00B. Sales and net income are not comparable to the previous period due to the fact the Company started to report consolidated financial statement. MSC Co., Ltd. is a Korean company that is principally engaged in the production and sale of food additives. The Company also provide spices, herbs, flavors functional food.
More Business
Descriptions
Production of food additives
All Other Food Manufacturing
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Executive report
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Board of
Directors |
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Co-Chief Executive Officer, Director |
Director/Board Member |
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Co-Chief Executive Officer, Director |
Director/Board Member |
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Non-Executive Independent Director |
Director/Board Member |
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Executives |
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Co-Chief Executive Officer, Director |
Chief Executive Officer |
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Co-Chief Executive Officer, Director |
Chief Executive Officer |
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Chief Executive Officer |
Chief Executive Officer |
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General Manager-Overseas |
Division Head Executive |
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Internal Auditor |
Accounting Executive |
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Manager-Export & Import |
Sales Executive |
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Assistant Manager-Export & Import |
Sales Executive |
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Significant Developments
MSC Co., Ltd. Appoints New Co-CEO Mar 23, 2012
MSC Co., Ltd. announced that it has appointed Kim Ho Seok as its new Co-Chief Executive Officer (Co-CEO), replacing Seo Jae Bong, effective March 23, 2012. The current Co-CEO, Kim Gil Je, continues his duty as Co-CEO at the Company.
MSC Co., Ltd. Declares Annual Cash Dividend for FY 2011 Feb 23, 2012
MSC Co., Ltd. announced that it has declared an annual cash dividend of KRW 450 per share of common stock to shareholders of record on December 31, 2011 for the fiscal year 2011. The dividend rate of market price is 1.9% and the total amount of the cash dividend is KRW 249,515,550. The dividend is expected to be paid on April 20, 2012.
Annual
Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
|
Auditor |
E-hyun
Accounting Corporation |
E-hyun
Accounting Corporation |
E-hyun
Accounting Corporation |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
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Net Sales |
101.5 |
82.5 |
64.9 |
82.1 |
90.6 |
|
Sale |
101.5 |
82.5 |
64.9 |
82.1 |
90.6 |
|
Other Sale |
0.1 |
- |
- |
- |
- |
|
Other Sale, Total |
0.1 |
- |
- |
- |
- |
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Total Sale |
101.6 |
82.5 |
64.9 |
82.1 |
90.6 |
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Cost of Sale |
82.9 |
68.1 |
52.3 |
63.7 |
69.8 |
|
Cost of Sale, Total |
82.9 |
68.1 |
52.3 |
63.7 |
69.8 |
|
Gross Profit |
18.6 |
14.4 |
12.7 |
18.4 |
20.7 |
|
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|
|
|
|
|
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Selling/General/Administrative Expense |
9.7 |
7.4 |
5.9 |
9.2 |
10.6 |
|
Labor & Related Expense |
4.6 |
3.9 |
3.4 |
4.8 |
5.1 |
|
Advertising Expense |
0.0 |
0.0 |
0.1 |
0.1 |
0.1 |
|
Total Selling/General/Administrative Expenses |
14.4 |
11.3 |
9.4 |
14.0 |
15.7 |
|
Depreciation |
0.2 |
0.2 |
0.2 |
0.2 |
0.3 |
|
Amortization of Intangibles |
- |
- |
- |
0.0 |
0.0 |
|
Depreciation/Amortization |
0.2 |
0.2 |
0.2 |
0.2 |
0.3 |
|
Investment Income -
Operating |
0.3 |
0.0 |
- |
- |
- |
|
Interest/Investment Income - Operating |
0.3 |
0.0 |
- |
- |
- |
|
Interest Expense (Income) - Net Operating Total |
0.3 |
0.0 |
- |
- |
- |
|
Total Operating Expense |
97.8 |
79.6 |
61.8 |
78.0 |
85.9 |
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|
|
|
|
|
|
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Operating Income |
3.8 |
2.9 |
3.1 |
4.1 |
4.7 |
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|
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|
|
|
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Interest Expense -
Non-Operating |
-2.5 |
-2.2 |
-1.9 |
-3.2 |
-3.5 |
|
Interest Expense, Net Non-Operating |
-2.5 |
-2.2 |
-1.9 |
-3.2 |
-3.5 |
|
Interest Income -
Non-Operating |
0.3 |
0.4 |
0.3 |
0.0 |
0.0 |
|
Investment Income -
Non-Operating |
0.4 |
0.0 |
-0.2 |
0.3 |
0.0 |
|
Interest/Investment Income - Non-Operating |
0.7 |
0.4 |
0.1 |
0.3 |
0.0 |
|
Interest Income (Expense) - Net Non-Operating |
- |
0.0 |
- |
- |
- |
|
Interest Income (Expense) - Net Non-Operating Total |
-1.8 |
-1.9 |
-1.8 |
-2.9 |
-3.5 |
|
Gain (Loss) on Sale of Assets |
0.0 |
0.0 |
-0.1 |
-0.3 |
-0.3 |
|
Other Non-Operating Income (Expense) |
0.2 |
0.3 |
-0.1 |
0.1 |
0.3 |
|
Other, Net |
0.2 |
0.3 |
-0.1 |
0.1 |
0.3 |
|
Income Before Tax |
2.1 |
1.4 |
1.1 |
1.0 |
1.1 |
|
|
|
|
|
|
|
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Total Income Tax |
-0.2 |
-0.2 |
-0.1 |
0.0 |
-0.2 |
|
Income After Tax |
2.3 |
1.6 |
1.2 |
1.0 |
1.4 |
|
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|
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Minority Interest |
- |
- |
- |
0.0 |
0.2 |
|
Net Income Before Extraord Items |
2.3 |
1.6 |
1.2 |
1.0 |
1.5 |
|
Net Income |
2.3 |
1.6 |
1.2 |
1.0 |
1.5 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
2.3 |
1.6 |
1.2 |
1.0 |
1.5 |
|
|
|
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|
|
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Income Available to Common Incl Extraord Items |
2.3 |
1.6 |
1.2 |
1.0 |
1.5 |
|
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|
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Basic/Primary Weighted Average Shares |
0.9 |
0.9 |
0.9 |
0.7 |
0.7 |
|
Basic EPS Excl Extraord Items |
2.65 |
1.80 |
1.32 |
1.35 |
2.23 |
|
Basic/Primary EPS Incl Extraord Items |
2.65 |
1.80 |
1.32 |
1.35 |
2.23 |
|
Diluted Net Income |
2.3 |
1.6 |
1.2 |
1.0 |
1.5 |
|
Diluted Weighted Average Shares |
0.9 |
0.9 |
0.9 |
0.7 |
0.7 |
|
Diluted EPS Excl Extraord Items |
2.65 |
1.80 |
1.32 |
1.35 |
2.23 |
|
Diluted EPS Incl Extraord Items |
2.65 |
1.80 |
1.32 |
1.35 |
2.23 |
|
Dividends per Share - Common Stock Primary Issue |
0.41 |
0.39 |
0.35 |
0.41 |
0.48 |
|
Gross Dividends - Common Stock |
0.2 |
0.2 |
0.2 |
0.2 |
0.2 |
|
Interest Expense, Supplemental |
2.5 |
2.2 |
1.9 |
3.2 |
3.5 |
|
Depreciation, Supplemental |
3.9 |
4.1 |
3.8 |
4.9 |
6.1 |
|
Total Special Items |
0.0 |
0.0 |
0.1 |
0.3 |
0.3 |
|
Normalized Income Before Tax |
2.1 |
1.4 |
1.2 |
1.4 |
1.4 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Inc Tax Ex Impact of Sp Items |
-0.2 |
-0.2 |
-0.1 |
0.1 |
-0.1 |
|
Normalized Income After Tax |
2.3 |
1.6 |
1.2 |
1.3 |
1.6 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
2.3 |
1.6 |
1.2 |
1.3 |
1.7 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
2.65 |
1.79 |
1.39 |
1.77 |
2.53 |
|
Diluted Normalized EPS |
2.65 |
1.79 |
1.39 |
1.77 |
2.53 |
|
Amort of Intangibles, Supplemental |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Rental Expenses |
0.0 |
0.0 |
- |
- |
- |
|
Advertising Expense, Supplemental |
0.0 |
0.0 |
0.1 |
0.1 |
0.1 |
|
Research & Development Exp, Supplemental |
2.4 |
2.0 |
- |
- |
- |
|
Normalized EBIT |
4.1 |
2.8 |
3.1 |
4.1 |
4.7 |
|
Normalized EBITDA |
8.0 |
7.0 |
6.9 |
9.0 |
10.8 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1152 |
1134.9 |
1164.475 |
1259.55 |
936.05 |
|
Auditor |
E-hyun
Accounting Corporation |
E-hyun
Accounting Corporation |
E-hyun
Accounting Corporation |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
0.9 |
1.3 |
0.4 |
0.4 |
1.2 |
|
Short Term Investments |
- |
- |
- |
0.4 |
- |
|
Cash and Short Term Investments |
0.9 |
1.3 |
0.4 |
0.8 |
1.2 |
|
Accounts Receivable -
Trade, Gross |
15.8 |
13.6 |
6.5 |
7.8 |
9.2 |
|
Provision for Doubtful
Accounts |
-0.4 |
-0.4 |
-0.3 |
-0.3 |
-0.3 |
|
Trade Accounts Receivable - Net |
15.7 |
13.6 |
6.5 |
7.5 |
8.9 |
|
Other Receivables |
5.0 |
5.1 |
6.1 |
0.5 |
0.7 |
|
Total Receivables, Net |
20.6 |
18.7 |
12.7 |
8.0 |
9.5 |
|
Inventories - Finished Goods |
12.8 |
14.5 |
14.1 |
16.2 |
21.4 |
|
Inventories - Work In Progress |
- |
- |
- |
0.8 |
1.1 |
|
Inventories - Raw Materials |
15.8 |
12.0 |
10.1 |
10.8 |
12.2 |
|
Inventories - Other |
0.4 |
0.9 |
0.6 |
0.6 |
0.7 |
|
Total Inventory |
28.9 |
27.5 |
24.8 |
28.4 |
35.4 |
|
Prepaid Expenses |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Other Current Assets |
0.0 |
0.0 |
0.1 |
0.2 |
- |
|
Other Current Assets, Total |
0.0 |
0.0 |
0.1 |
0.2 |
- |
|
Total Current Assets |
50.7 |
47.6 |
38.0 |
37.5 |
46.2 |
|
|
|
|
|
|
|
|
Buildings |
29.0 |
27.1 |
25.4 |
27.2 |
36.2 |
|
Land/Improvements |
11.6 |
11.7 |
7.9 |
10.1 |
13.5 |
|
Machinery/Equipment |
53.6 |
50.9 |
46.0 |
42.2 |
54.4 |
|
Construction in
Progress |
2.7 |
2.4 |
0.3 |
0.1 |
0.2 |
|
Other
Property/Plant/Equipment |
6.7 |
6.6 |
6.2 |
6.6 |
8.8 |
|
Property/Plant/Equipment - Gross |
103.5 |
98.7 |
85.8 |
86.2 |
113.1 |
|
Accumulated Depreciation |
-57.7 |
-54.8 |
-49.4 |
-44.9 |
-54.9 |
|
Property/Plant/Equipment - Net |
45.8 |
43.9 |
36.4 |
41.3 |
58.2 |
|
Goodwill, Net |
- |
- |
- |
0.1 |
0.1 |
|
Intangibles, Net |
1.2 |
1.0 |
0.6 |
0.6 |
0.0 |
|
LT Investment - Affiliate Companies |
1.1 |
1.0 |
0.8 |
0.8 |
0.4 |
|
LT Investments - Other |
1.5 |
1.5 |
3.3 |
1.7 |
2.5 |
|
Long Term Investments |
2.6 |
2.5 |
4.1 |
2.5 |
2.9 |
|
Note Receivable - Long Term |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Deferred Income Tax - Long Term Asset |
1.3 |
0.9 |
1.5 |
1.0 |
1.1 |
|
Other Long Term Assets |
1.1 |
0.7 |
0.7 |
0.7 |
0.9 |
|
Other Long Term Assets, Total |
2.4 |
1.6 |
2.1 |
1.7 |
2.1 |
|
Total Assets |
102.8 |
96.6 |
81.3 |
83.8 |
109.5 |
|
|
|
|
|
|
|
|
Accounts Payable |
4.2 |
5.5 |
3.1 |
3.4 |
4.3 |
|
Accrued Expenses |
1.6 |
1.2 |
0.7 |
0.9 |
0.9 |
|
Notes Payable/Short Term Debt |
50.7 |
45.3 |
35.5 |
37.8 |
23.8 |
|
Current Portion - Long Term Debt/Capital Leases |
- |
0.6 |
0.5 |
0.5 |
29.5 |
|
Customer Advances |
0.0 |
0.0 |
0.5 |
2.4 |
1.4 |
|
Security Deposits |
1.1 |
1.1 |
1.1 |
1.0 |
- |
|
Income Taxes Payable |
0.1 |
0.1 |
0.1 |
0.1 |
0.2 |
|
Other Payables |
4.5 |
4.3 |
2.4 |
2.8 |
3.1 |
|
Deferred Income Tax - Current Liability |
- |
- |
0.3 |
0.2 |
0.3 |
|
Other Current Liabilities |
0.2 |
0.2 |
0.3 |
0.1 |
0.4 |
|
Other Current liabilities, Total |
5.9 |
5.7 |
4.6 |
6.6 |
5.3 |
|
Total Current Liabilities |
62.4 |
58.2 |
44.4 |
49.2 |
63.9 |
|
|
|
|
|
|
|
|
Long Term Debt |
- |
- |
0.5 |
1.1 |
2.1 |
|
Total Long Term Debt |
0.0 |
0.0 |
0.5 |
1.1 |
2.1 |
|
Total Debt |
50.7 |
45.8 |
36.6 |
39.4 |
55.4 |
|
|
|
|
|
|
|
|
Minority Interest |
- |
- |
- |
1.2 |
2.5 |
|
Pension Benefits - Underfunded |
9.8 |
8.9 |
7.5 |
7.0 |
8.7 |
|
Other Long Term Liabilities |
0.4 |
0.4 |
0.3 |
0.3 |
0.4 |
|
Other Liabilities, Total |
10.2 |
9.3 |
7.8 |
7.2 |
9.1 |
|
Total Liabilities |
72.6 |
67.6 |
52.7 |
58.7 |
77.6 |
|
|
|
|
|
|
|
|
Common Stock |
3.8 |
3.9 |
3.8 |
3.5 |
4.7 |
|
Common Stock |
3.8 |
3.9 |
3.8 |
3.5 |
4.7 |
|
Additional Paid-In Capital |
5.3 |
5.4 |
5.9 |
5.9 |
29.8 |
|
Retained Earnings (Accumulated Deficit) |
21.8 |
20.4 |
19.5 |
17.0 |
- |
|
Treasury Stock - Common |
- |
- |
- |
-1.5 |
-1.6 |
|
Unrealized Gain (Loss) |
- |
- |
-0.7 |
0.0 |
0.0 |
|
Other Equity |
- |
- |
- |
0.3 |
-1.1 |
|
Other Comprehensive Income |
-0.7 |
-0.5 |
- |
- |
- |
|
Other Equity, Total |
-0.7 |
-0.5 |
- |
0.3 |
-1.1 |
|
Total Equity |
30.2 |
29.1 |
28.5 |
25.1 |
31.9 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
102.8 |
96.6 |
81.3 |
83.8 |
109.5 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
0.9 |
0.9 |
0.9 |
0.9 |
0.9 |
|
Total Common Shares Outstanding |
0.9 |
0.9 |
0.9 |
0.9 |
0.9 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Employees |
338 |
317 |
304 |
315 |
341 |
|
Number of Common Shareholders |
- |
333 |
283 |
285 |
329 |
|
Accumulated Intangible Amort, Suppl. |
0.0 |
0.0 |
- |
- |
- |
|
Deferred Sale - Current |
0.0 |
0.0 |
0.5 |
2.4 |
1.4 |
|
Deferred Sale - Long Term |
0.0 |
0.0 |
- |
- |
- |
|
Total Long Term Debt, Supplemental |
- |
- |
1.1 |
1.6 |
27.3 |
|
Long Term Debt Maturing within 1 Year |
- |
- |
0.5 |
0.5 |
25.2 |
|
Long Term Debt Maturing in Year 2 |
- |
- |
0.5 |
0.5 |
0.7 |
|
Long Term Debt Maturing in Year 3 |
- |
- |
- |
0.5 |
0.7 |
|
Long Term Debt Maturing in Year 4 |
- |
- |
- |
0.0 |
0.7 |
|
Long Term Debt Maturing in 2-3 Years |
- |
- |
0.5 |
1.0 |
1.4 |
|
Long Term Debt Maturing in 4-5 Years |
- |
- |
- |
0.0 |
0.7 |
|
Long Term Debt Matur. in Year 6 & Beyond |
- |
- |
0.0 |
0.0 |
0.0 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
|
Auditor |
E-hyun
Accounting Corporation |
E-hyun
Accounting Corporation |
E-hyun
Accounting Corporation |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
2.3 |
1.6 |
1.2 |
1.0 |
1.5 |
|
Depreciation |
3.9 |
4.1 |
3.8 |
4.9 |
6.1 |
|
Depreciation/Depletion |
3.9 |
4.1 |
3.8 |
4.9 |
6.1 |
|
Amortization of Intangibles |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Amortization |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Taxes |
-0.3 |
-0.3 |
-0.3 |
-0.1 |
-0.6 |
|
Unusual Items |
0.1 |
0.0 |
0.2 |
0.0 |
0.1 |
|
Equity in Net Earnings (Loss) |
-0.2 |
-0.2 |
-0.1 |
- |
- |
|
Other Non-Cash Items |
3.5 |
3.4 |
0.9 |
1.3 |
1.4 |
|
Non-Cash Items |
3.4 |
3.2 |
1.0 |
1.3 |
1.5 |
|
Accounts Receivable |
-2.6 |
-2.7 |
1.2 |
-1.3 |
-0.2 |
|
Inventories |
-1.5 |
-1.9 |
0.4 |
-2.3 |
1.2 |
|
Prepaid Expenses |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Assets |
-0.4 |
0.0 |
0.0 |
1.1 |
- |
|
Accounts Payable |
-0.5 |
3.3 |
0.0 |
0.2 |
-0.4 |
|
Accrued Expenses |
0.4 |
0.5 |
-0.1 |
0.2 |
-0.1 |
|
Taxes Payable |
0.1 |
0.1 |
0.0 |
-0.1 |
-0.1 |
|
Other Liabilities |
-1.1 |
-0.6 |
-2.2 |
0.6 |
-1.2 |
|
Other Operating Cash Flow |
-2.4 |
-2.2 |
- |
- |
- |
|
Changes in Working Capital |
-8.0 |
-3.5 |
-0.6 |
-1.4 |
-0.8 |
|
Cash from Operating Activities |
1.3 |
5.1 |
5.0 |
5.7 |
7.8 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-7.2 |
-9.0 |
-3.0 |
-2.7 |
-4.8 |
|
Purchase/Acquisition of Intangibles |
-0.5 |
-0.3 |
- |
-0.2 |
-0.2 |
|
Capital Expenditures |
-7.7 |
-9.3 |
-3.0 |
-2.9 |
-5.0 |
|
Sale of Fixed Assets |
0.1 |
0.0 |
0.1 |
0.0 |
0.7 |
|
Sale/Maturity of Investment |
10.4 |
14.1 |
14.5 |
3.7 |
0.1 |
|
Purchase of Investments |
-10.4 |
-14.0 |
-14.9 |
-5.3 |
-0.3 |
|
Sale of Intangible Assets |
0.2 |
- |
- |
0.2 |
- |
|
Other Investing Cash Flow |
0.3 |
1.2 |
-2.1 |
-0.1 |
5.9 |
|
Other Investing Cash Flow Items, Total |
0.5 |
1.3 |
-2.5 |
-1.5 |
6.4 |
|
Cash from Investing Activities |
-7.2 |
-8.0 |
-5.5 |
-4.4 |
1.4 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-0.1 |
-0.1 |
- |
0.5 |
-1.1 |
|
Financing Cash Flow Items |
-0.1 |
-0.1 |
- |
0.5 |
-1.1 |
|
Cash Dividends Paid - Common |
-0.2 |
-0.2 |
-0.2 |
-0.2 |
-0.3 |
|
Total Cash Dividends Paid |
-0.2 |
-0.2 |
-0.2 |
-0.2 |
-0.3 |
|
Sale/Issuance of
Common |
- |
- |
- |
- |
1.4 |
|
Common Stock, Net |
- |
- |
- |
- |
1.4 |
|
Issuance (Retirement) of Stock, Net |
- |
- |
- |
- |
1.4 |
|
Short Term Debt Issued |
182.7 |
167.1 |
138.0 |
130.8 |
100.3 |
|
Short Term Debt
Reduction |
-176.5 |
-162.5 |
-136.8 |
-107.8 |
-108.1 |
|
Short Term Debt, Net |
6.2 |
4.5 |
1.1 |
23.0 |
-7.9 |
|
Long Term Debt
Reduction |
-0.6 |
-0.6 |
-0.5 |
-25.1 |
-1.5 |
|
Long Term Debt, Net |
-0.6 |
-0.6 |
-0.5 |
-25.1 |
-1.5 |
|
Issuance (Retirement) of Debt, Net |
5.7 |
4.0 |
0.6 |
-2.1 |
-9.4 |
|
Cash from Financing Activities |
5.3 |
3.6 |
0.5 |
-1.8 |
-9.4 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.2 |
0.1 |
- |
- |
- |
|
Net Change in Cash |
-0.4 |
0.8 |
0.1 |
-0.5 |
-0.2 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
1.4 |
0.6 |
0.3 |
1.0 |
1.5 |
|
Net Cash - Ending Balance |
1.0 |
1.3 |
0.4 |
0.5 |
1.2 |
|
Cash Interest Paid |
2.4 |
2.3 |
- |
- |
- |
|
Cash Taxes Paid |
0.1 |
0.3 |
- |
- |
- |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
|
Auditor |
E-hyun
Accounting Corporation |
E-hyun
Accounting Corporation |
E-hyun
Accounting Corporation |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Finished Goods Sales |
96.2 |
80.6 |
63.7 |
79.3 |
86.4 |
|
Merchandise Sales |
1.5 |
1.3 |
0.9 |
1.6 |
0.7 |
|
Manufactured Sales |
3.6 |
0.5 |
0.2 |
0.4 |
2.6 |
|
Rental Sales |
0.2 |
0.2 |
0.1 |
0.2 |
0.2 |
|
Service Sales |
- |
- |
- |
0.6 |
0.6 |
|
Other Sale |
0.1 |
- |
- |
- |
- |
|
Total Sale |
101.6 |
82.5 |
64.9 |
82.1 |
90.6 |
|
|
|
|
|
|
|
|
Cost of Finished Goods Sold |
80.4 |
66.7 |
51.4 |
62.3 |
68.3 |
|
Cost of Merchandises Sold |
1.4 |
1.2 |
0.8 |
1.3 |
0.7 |
|
Cost-Manufacturing |
1.0 |
0.1 |
0.1 |
0.1 |
0.8 |
|
Cost of Leases |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Cost of Other Goods Sold |
0.1 |
- |
- |
- |
- |
|
Salaries and Wages |
3.5 |
3.1 |
2.6 |
3.6 |
4.1 |
|
Retirement and Severance Benefits |
0.5 |
0.3 |
0.3 |
0.6 |
0.6 |
|
Employee Benefits |
0.6 |
0.5 |
0.5 |
0.6 |
0.5 |
|
Travel Expense |
0.6 |
0.6 |
0.5 |
0.5 |
0.6 |
|
Communication Expenses |
0.1 |
0.1 |
0.1 |
0.1 |
0.2 |
|
Utility Expenses |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Taxes and Dues |
0.6 |
0.5 |
0.4 |
0.5 |
0.7 |
|
Sales Commissions |
0.2 |
0.1 |
0.1 |
0.4 |
0.4 |
|
Amortization-Intangibles |
- |
- |
- |
0.0 |
0.0 |
|
Depreciation |
0.2 |
0.2 |
0.2 |
0.2 |
0.3 |
|
Consumable Expense |
0.1 |
0.1 |
0.1 |
0.2 |
0.2 |
|
Repair Expense |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Insurance Premiums |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Entertainment Expense |
0.2 |
0.2 |
0.1 |
0.2 |
0.2 |
|
Advertising Expense |
0.0 |
0.0 |
0.1 |
0.1 |
0.1 |
|
Cargo Work Expenses |
- |
- |
- |
0.0 |
0.0 |
|
Packaging Expenses |
5.3 |
3.8 |
3.0 |
3.8 |
5.1 |
|
Shipping & Handling Expense |
1.7 |
1.4 |
1.2 |
2.0 |
1.8 |
|
Publication Expenses |
0.0 |
0.0 |
- |
0.0 |
0.0 |
|
Vehicle Maintenance Expenses |
0.0 |
0.0 |
- |
0.0 |
0.1 |
|
Education & Training |
- |
- |
- |
0.0 |
0.0 |
|
Commissions |
0.6 |
0.3 |
0.3 |
1.2 |
1.1 |
|
Overseas Market Development Cost |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Expenses of Allowance for Doubtful Accou |
0.1 |
0.2 |
- |
0.1 |
0.0 |
|
Rental Expenses |
0.0 |
0.0 |
- |
- |
- |
|
Adjustment for Selling and Administrativ |
0.0 |
0.0 |
- |
- |
- |
|
Gain on Foreign Currency Translation & T |
-0.6 |
-0.5 |
- |
- |
- |
|
Loss on Foreign Currency Translation & T |
0.8 |
0.5 |
- |
- |
- |
|
Total Operating Expense |
97.8 |
79.6 |
61.8 |
78.0 |
85.9 |
|
|
|
|
|
|
|
|
Interest Income |
0.3 |
0.4 |
0.3 |
0.0 |
0.0 |
|
Dividend Income |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Gain on Foreign Currency Translations & |
0.2 |
- |
- |
- |
- |
|
Gain-Foreign Exchange Transaction |
- |
- |
0.6 |
0.8 |
0.1 |
|
Gain-Foreign Currency Translation |
- |
- |
0.0 |
0.4 |
0.0 |
|
Gain on Derivatives Transaction |
0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Gain on Valuation of Derivatives |
0.1 |
- |
0.1 |
0.1 |
- |
|
Gain on Disposal of Securities Available |
0.0 |
0.0 |
- |
- |
0.0 |
|
Gain-Disposal of Investment Assets |
- |
- |
- |
0.0 |
- |
|
Gain-Disposal of Investment Securities |
- |
- |
0.0 |
- |
- |
|
Gain on Disposal of Property, Plant and |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Gain on Disposal of Intangible Assets |
0.0 |
- |
- |
- |
- |
|
Miscellaneous Income |
0.2 |
0.4 |
0.1 |
0.2 |
0.3 |
|
Recovery-Loan Loss Reserve |
- |
- |
0.1 |
- |
- |
|
Interest Expenses |
-2.5 |
-2.2 |
-1.9 |
-3.2 |
-3.5 |
|
Loss on Foreign Currency Translations & |
0.0 |
- |
- |
- |
- |
|
Loss-Foreign Exchange Transaction |
- |
- |
-0.6 |
-0.8 |
-0.1 |
|
Loss-Foreign Currency Translation |
- |
- |
-0.2 |
-0.3 |
0.0 |
|
Loss on Derivative Transaction |
-0.1 |
-0.2 |
0.0 |
0.0 |
- |
|
Loss-Disposal of Investment Assets |
- |
- |
- |
0.0 |
- |
|
Loss-Disposal of Investment Securities |
- |
- |
-0.2 |
- |
- |
|
Loss on Disposal of Securities Available |
- |
0.0 |
- |
- |
- |
|
Losses on Sale of Trade Receivable |
- |
- |
-0.1 |
-0.3 |
-0.4 |
|
Loss on Valuation of Derivatives |
- |
-0.1 |
- |
- |
- |
|
Loss-Reduct. of Sec. Available-Sale |
- |
- |
- |
- |
-0.2 |
|
Losses on Sale of Property, Plant and Eq |
- |
- |
0.0 |
0.0 |
0.0 |
|
Loss on Disposal of Intangible Assets |
0.0 |
- |
- |
- |
- |
|
Losses on Inventory Obsolescence |
- |
- |
0.0 |
0.0 |
0.0 |
|
Donations Paid |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Miscellaneous Loss |
0.0 |
0.0 |
-0.2 |
0.0 |
0.0 |
|
Other Finance Income |
0.0 |
0.0 |
- |
- |
- |
|
Other Finance Expense |
-0.1 |
0.0 |
- |
- |
- |
|
Gain under Equity Method |
0.2 |
0.2 |
0.1 |
- |
- |
|
Losses on Valuation of Equity Method Sec |
- |
- |
0.0 |
- |
- |
|
Adjustment for Finance Income |
- |
0.0 |
- |
- |
- |
|
Adjustment for Finance Expense |
- |
0.0 |
- |
- |
- |
|
Adj for Other Non-Operating Income |
0.0 |
- |
- |
- |
- |
|
Adj for Other Non-Operating Expenses |
0.0 |
0.0 |
- |
- |
- |
|
Net Income Before Taxes |
2.1 |
1.4 |
1.1 |
1.0 |
1.1 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
-0.2 |
-0.2 |
-0.1 |
0.0 |
-0.2 |
|
Net Income After Taxes |
2.3 |
1.6 |
1.2 |
1.0 |
1.4 |
|
|
|
|
|
|
|
|
Minority Interest |
- |
- |
- |
0.0 |
0.2 |
|
Net Income Before Extra. Items |
2.3 |
1.6 |
1.2 |
1.0 |
1.5 |
|
Net Income |
2.3 |
1.6 |
1.2 |
1.0 |
1.5 |
|
|
|
|
|
|
|
|
Income Available to Com Excl E |
2.3 |
1.6 |
1.2 |
1.0 |
1.5 |
|
|
|
|
|
|
|
|
Income Available to Com Incl E |
2.3 |
1.6 |
1.2 |
1.0 |
1.5 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
0.9 |
0.9 |
0.9 |
0.7 |
0.7 |
|
Basic EPS Excluding ExtraOrdin |
2.65 |
1.80 |
1.32 |
1.35 |
2.23 |
|
Basic EPS Including ExtraOrdin |
2.65 |
1.80 |
1.32 |
1.35 |
2.23 |
|
Diluted Net Income |
2.3 |
1.6 |
1.2 |
1.0 |
1.5 |
|
Diluted Weighted Average Share |
0.9 |
0.9 |
0.9 |
0.7 |
0.7 |
|
Diluted EPS Excluding ExtraOrd |
2.65 |
1.80 |
1.32 |
1.35 |
2.23 |
|
Diluted EPS Including ExtraOrd |
2.65 |
1.80 |
1.32 |
1.35 |
2.23 |
|
DPS-Common Stock |
0.41 |
0.39 |
0.35 |
0.41 |
0.48 |
|
Gross Dividends - Common Stock |
0.2 |
0.2 |
0.2 |
0.2 |
0.2 |
|
Normalized Income Before Taxes |
2.1 |
1.4 |
1.2 |
1.4 |
1.4 |
|
|
|
|
|
|
|
|
Inc Tax Ex. Impact of Sp Items |
-0.2 |
-0.2 |
-0.1 |
0.1 |
-0.1 |
|
Normalized Income After Taxes |
2.3 |
1.6 |
1.2 |
1.3 |
1.6 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
2.3 |
1.6 |
1.2 |
1.3 |
1.7 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
2.65 |
1.79 |
1.39 |
1.77 |
2.53 |
|
Diluted Normalized EPS |
2.65 |
1.79 |
1.39 |
1.77 |
2.53 |
|
Interest Expense |
2.5 |
2.2 |
1.9 |
3.2 |
3.5 |
|
Rental Expense |
0.0 |
0.0 |
- |
- |
- |
|
Advertising Expense |
0.0 |
0.0 |
0.1 |
0.1 |
0.1 |
|
Research & Development Exp, Supplemental |
2.4 |
2.0 |
- |
- |
- |
|
Depreciation |
3.9 |
4.1 |
3.8 |
4.9 |
6.1 |
|
Amort of Intangibles, Suppleme |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1152 |
1134.9 |
1164.475 |
1259.55 |
936.05 |
|
Auditor |
E-hyun
Accounting Corporation |
E-hyun
Accounting Corporation |
E-hyun
Accounting Corporation |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Cash Equivalents |
0.9 |
1.3 |
0.4 |
0.4 |
1.2 |
|
Government Subsidy for Cash and Cash Equ |
- |
- |
-0.1 |
- |
- |
|
ST Financial Assets |
- |
- |
- |
0.4 |
- |
|
Trade Receivable, Gross |
15.8 |
13.6 |
6.5 |
7.8 |
9.2 |
|
Allowance for Doubtful Accounts for Trad |
-0.4 |
-0.4 |
-0.3 |
-0.3 |
-0.3 |
|
Current Loans |
4.8 |
4.8 |
5.9 |
0.1 |
0.1 |
|
Derivatives |
0.0 |
- |
0.1 |
0.1 |
- |
|
Account Receivables |
0.2 |
0.3 |
0.2 |
0.4 |
0.5 |
|
Accrued Income |
0.2 |
0.3 |
0.3 |
0.0 |
0.0 |
|
Advance Payments |
0.3 |
0.7 |
0.5 |
0.6 |
0.6 |
|
Guarantee Deposit-Futures Trade |
- |
- |
- |
0.1 |
- |
|
Prepaid Expenses |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Finished Goods |
12.9 |
14.6 |
14.1 |
16.1 |
21.4 |
|
Allowance for Loss on Valuation of Finis |
-0.1 |
0.0 |
- |
- |
- |
|
Work in Progress |
- |
- |
- |
0.8 |
1.1 |
|
Raw Materials |
14.1 |
11.2 |
9.3 |
10.2 |
11.5 |
|
Allowance for Loss on Valuation of Raw M |
-0.1 |
0.0 |
- |
- |
- |
|
Supplies |
0.1 |
0.2 |
0.1 |
0.1 |
0.1 |
|
Raw Mat.Transit |
1.7 |
0.9 |
0.8 |
0.7 |
0.7 |
|
Merchandise |
- |
- |
- |
0.0 |
0.1 |
|
Adjustment for Trade & Other Receivables |
0.0 |
0.0 |
- |
- |
- |
|
Adjustment for Other Current Assets |
- |
0.0 |
- |
- |
- |
|
Adjustment for Inventories |
0.0 |
0.0 |
- |
- |
- |
|
Total Current Assets |
50.7 |
47.6 |
38.0 |
37.5 |
46.2 |
|
|
|
|
|
|
|
|
Non-Current Financial Instruments |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Secs avail. for Sale |
- |
- |
- |
1.7 |
1.7 |
|
Other Inv Assets |
- |
- |
- |
- |
0.8 |
|
Non-Current Investment Securities |
1.5 |
1.5 |
3.3 |
- |
- |
|
Non-Current Trade Receivables |
0.1 |
0.1 |
0.0 |
0.1 |
0.1 |
|
Allowance for Doubtful Accounts for Non- |
-0.1 |
-0.1 |
0.0 |
- |
- |
|
Guarantee Deposits, Non-Current Assets |
1.1 |
0.7 |
0.7 |
0.7 |
0.9 |
|
Non-Current Deferred Income Taxes Assets |
1.3 |
0.9 |
1.5 |
1.0 |
1.1 |
|
Investment in Affiliates |
1.1 |
1.0 |
0.8 |
0.8 |
0.4 |
|
Lands |
11.6 |
11.7 |
7.9 |
10.1 |
13.5 |
|
Buildings |
24.2 |
22.6 |
21.1 |
22.4 |
29.7 |
|
Buildings-Depreciation |
-7.3 |
-6.7 |
-5.9 |
-5.3 |
-6.3 |
|
Structures |
4.8 |
4.5 |
4.3 |
4.9 |
6.5 |
|
Structures-Depreciation |
-1.9 |
-1.8 |
-1.6 |
-1.6 |
-2.0 |
|
Machineries & Equipments |
51.4 |
48.8 |
44.1 |
40.2 |
51.8 |
|
Machineries & Equipments-Depreciation |
-40.5 |
-38.4 |
-34.5 |
-29.9 |
-36.4 |
|
Machineries & Equipments-Government Subs |
0.0 |
0.0 |
-0.1 |
-0.1 |
-0.1 |
|
Vehicles |
2.2 |
2.2 |
1.9 |
2.1 |
2.7 |
|
Vehicles-Depreciation |
-1.7 |
-1.6 |
-1.5 |
-1.8 |
-2.3 |
|
Other Property Plant & Equipment |
6.7 |
6.6 |
6.2 |
6.6 |
8.8 |
|
Other Tangible Assets-Depreciation |
-6.3 |
-6.3 |
-6.0 |
-6.2 |
-8.0 |
|
Gov't Subsidy-Other Tangibles |
- |
- |
- |
0.0 |
0.0 |
|
Construc in Prog |
2.7 |
2.4 |
0.3 |
0.1 |
0.2 |
|
Industrial Property Rights |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Membership Rights |
1.2 |
1.0 |
0.6 |
0.6 |
- |
|
Goodwill |
- |
- |
- |
0.1 |
0.1 |
|
Adjustment for Property, Plant & Equipme |
- |
- |
- |
- |
- |
|
Adjustment for Intangible Assets |
0.0 |
- |
- |
- |
- |
|
Adjustment for Other Non-Current Financi |
0.0 |
0.0 |
- |
- |
- |
|
Total Assets |
102.8 |
96.6 |
81.3 |
83.8 |
109.5 |
|
|
|
|
|
|
|
|
Trade Payables |
3.8 |
4.7 |
3.1 |
3.4 |
4.3 |
|
Other Payables |
4.5 |
4.3 |
2.4 |
2.8 |
3.1 |
|
Other in Trade & Other Payable |
0.3 |
0.7 |
- |
- |
- |
|
Current Borrowings |
50.7 |
45.3 |
35.5 |
37.8 |
20.6 |
|
ST Borrow-Affil |
- |
- |
- |
- |
3.2 |
|
Advance for Customers |
- |
- |
0.5 |
2.4 |
1.4 |
|
Unearned Income |
0.0 |
0.0 |
- |
- |
- |
|
Security Deposit Paid |
1.1 |
1.1 |
1.1 |
1.0 |
- |
|
Financial Guarantee Deposits Liabilities |
0.0 |
0.0 |
- |
- |
- |
|
Withholdings |
0.2 |
0.1 |
0.3 |
0.1 |
0.4 |
|
Current Tax Liabilities |
0.1 |
0.1 |
0.1 |
0.1 |
0.2 |
|
Accrued Expenses |
1.6 |
1.2 |
0.7 |
0.9 |
0.9 |
|
Current Derivatives Liabilities |
- |
0.1 |
- |
- |
- |
|
Current Portion of Long-term Liabilities |
- |
0.6 |
0.5 |
0.5 |
25.2 |
|
Deferred Income Tax Credits |
- |
- |
0.3 |
0.2 |
0.3 |
|
Current Portion of Bonds |
- |
- |
- |
- |
4.3 |
|
Adjustment for Current Trade & Other Pay |
0.0 |
0.0 |
- |
- |
- |
|
Adjustment for Other Current Financial L |
0.0 |
0.0 |
- |
- |
- |
|
Total Current Liability |
62.4 |
58.2 |
44.4 |
49.2 |
63.9 |
|
|
|
|
|
|
|
|
LT Borrowings |
- |
- |
0.5 |
1.1 |
2.1 |
|
Total Long Term Debt |
- |
- |
0.5 |
1.1 |
2.1 |
|
|
|
|
|
|
|
|
Non-Current Fixed Benefit Liabilities |
9.8 |
8.9 |
- |
- |
- |
|
Retirement Resrv |
- |
- |
7.6 |
7.0 |
8.7 |
|
Transfer to National Pension Fund |
- |
- |
-0.1 |
- |
- |
|
Other LT Liabs. |
- |
- |
- |
- |
0.4 |
|
LT Accounts Pay |
0.1 |
0.1 |
0.0 |
- |
- |
|
Rent Deposit |
0.3 |
0.4 |
0.3 |
0.3 |
- |
|
Present Discount for Rental Guarantee De |
0.0 |
0.0 |
- |
- |
- |
|
Minority Interest |
- |
- |
- |
1.2 |
2.5 |
|
Non-Current Unearned Income |
0.0 |
0.0 |
- |
- |
- |
|
Adjustment for Other Non-Current Financi |
- |
- |
- |
- |
- |
|
Total Liabilities |
72.6 |
67.6 |
52.7 |
58.7 |
77.6 |
|
|
|
|
|
|
|
|
Common Stock |
3.8 |
3.9 |
3.8 |
3.5 |
4.7 |
|
Consolidated Capital Surplus |
- |
- |
- |
- |
7.9 |
|
Paid-in Capital in Excess of Par |
2.3 |
2.4 |
2.3 |
2.1 |
22.0 |
|
Gain on Disposal of Treasury Stock |
- |
- |
- |
0.4 |
- |
|
Other Capital Surplus |
0.3 |
0.3 |
0.3 |
0.3 |
- |
|
Reserve for Assets Revaluation |
2.6 |
2.7 |
3.3 |
3.1 |
- |
|
Retained Earnings or Accumulated Deficit |
21.8 |
20.4 |
- |
- |
- |
|
Legal Reserve |
- |
- |
3.4 |
3.2 |
- |
|
Voluntary Reserve |
- |
- |
13.0 |
12.9 |
- |
|
Retained Earning Carried Forward |
- |
- |
3.1 |
0.9 |
- |
|
Consolidated Capital Adjustment |
- |
- |
- |
0.3 |
- |
|
Treasury Strock |
- |
- |
- |
-1.5 |
-1.6 |
|
Valu-Secs under Equity Method |
- |
- |
-0.7 |
- |
- |
|
Capital Adjustment |
- |
- |
- |
- |
-1.1 |
|
Gains on Valu-Secs avail. for Sale |
- |
- |
0.0 |
0.0 |
0.0 |
|
Losses on Valuation of Available for Sal |
- |
- |
0.0 |
- |
- |
|
Accumulated Other Comprehensive Income |
-0.7 |
-0.5 |
- |
- |
- |
|
Adjustment for Capital Surplus |
0.0 |
0.0 |
- |
- |
- |
|
Total Equity |
30.2 |
29.1 |
28.5 |
25.1 |
31.9 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholde |
102.8 |
96.6 |
81.3 |
83.8 |
109.5 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
0.9 |
0.9 |
0.9 |
0.9 |
0.9 |
|
Total Common Shares Outstandin |
0.9 |
0.9 |
0.9 |
0.9 |
0.9 |
|
T/S-Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Sale, Current |
0.0 |
0.0 |
0.5 |
2.4 |
1.4 |
|
Deferred Sale - Long Term |
0.0 |
0.0 |
- |
- |
- |
|
Accumulated Intangible Amort, Suppl. |
0.0 |
0.0 |
- |
- |
- |
|
Full-Time Employees |
338 |
317 |
304 |
315 |
341 |
|
Number of Common Shareholders |
- |
333 |
283 |
285 |
329 |
|
LT Debt Maturing within 1 yr |
- |
- |
0.5 |
0.5 |
25.2 |
|
LT Debt Maturing within 2 yr |
- |
- |
0.5 |
0.5 |
0.7 |
|
LT Debt Maturing within 3 yr |
- |
- |
- |
0.5 |
0.7 |
|
LT Debt Maturing within 4 yr |
- |
- |
- |
0.0 |
0.7 |
|
LT Debt Maturing Remaining |
- |
- |
- |
0.0 |
0.0 |
|
Total Long Term Debt, Supplemental |
- |
- |
1.1 |
1.6 |
27.3 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
|
Auditor |
E-hyun
Accounting Corporation |
E-hyun
Accounting Corporation |
E-hyun
Accounting Corporation |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
2.3 |
1.6 |
1.2 |
1.0 |
1.5 |
|
Depreciation |
3.9 |
4.1 |
3.8 |
4.9 |
6.1 |
|
Amortization of Intangible Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Retirement and Severance Benefits |
1.4 |
1.2 |
0.9 |
1.3 |
1.3 |
|
Expense of Allowance for Doubtful Accoun |
0.1 |
0.2 |
- |
- |
- |
|
Transfer-Construction in Process to Exp. |
- |
- |
- |
0.1 |
0.3 |
|
Interest Expenses |
2.5 |
2.2 |
- |
- |
- |
|
Recovery-Provision Doubtful Account |
- |
- |
-0.1 |
- |
- |
|
Minority Interest Gain |
- |
- |
- |
0.0 |
- |
|
Gains on Foreign Currency Translation |
-0.3 |
-0.1 |
0.0 |
- |
0.0 |
|
Minority Interest Loss |
- |
- |
- |
- |
-0.2 |
|
Losses on Foreign Currency Translation |
0.1 |
0.1 |
0.1 |
0.0 |
- |
|
Losses on Valuation of Equity Method Sec |
- |
- |
0.0 |
- |
- |
|
Losses on Sale of Property, Plant and Eq |
- |
- |
0.0 |
0.0 |
0.0 |
|
Loss on Disposal of Securities Available |
- |
0.0 |
0.2 |
0.0 |
- |
|
Loss on Disposal of MarketablSecurities |
- |
- |
- |
- |
0.0 |
|
Loss on Financial Guarantee |
0.1 |
0.0 |
- |
- |
- |
|
Loss on Derivative Assets Related |
0.1 |
0.2 |
- |
- |
- |
|
Loss-Reduct. of Sec. Available-for-Sale |
- |
- |
- |
- |
0.2 |
|
Loss-Depletion of Inventory |
- |
- |
0.1 |
- |
0.0 |
|
Loss-Valuation of Inventory |
0.1 |
0.0 |
- |
- |
- |
|
Loss-Derivatives Transaction |
- |
- |
0.0 |
- |
- |
|
Gain-Disposal of Investment Assets |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Gain on Disposal of Property, Plant and |
0.0 |
0.0 |
0.0 |
0.0 |
-0.1 |
|
Gain on Disposal of Intangible Assets |
0.0 |
- |
- |
- |
- |
|
Gain-Derivatives Transaction |
-0.2 |
0.0 |
0.0 |
- |
- |
|
Gain-Derivatives Valuation |
- |
- |
-0.1 |
-0.1 |
- |
|
Gain under Equity Method |
-0.2 |
-0.2 |
-0.1 |
- |
- |
|
Interest Income |
-0.3 |
-0.4 |
- |
- |
- |
|
Dividend Income |
0.0 |
0.0 |
- |
- |
- |
|
Gain on Financial Guarantee |
0.0 |
0.0 |
- |
- |
- |
|
LT Trade Rcvbls |
- |
- |
0.1 |
-0.1 |
0.0 |
|
Account Receivables |
0.0 |
-0.1 |
0.0 |
- |
- |
|
Trade Receivables |
-2.6 |
-2.6 |
1.1 |
-1.0 |
-0.7 |
|
Accrued Income |
- |
- |
0.0 |
-0.1 |
0.5 |
|
Guarantee Deposit |
-0.4 |
0.0 |
0.0 |
1.1 |
- |
|
Advance Payments |
0.4 |
-0.2 |
0.0 |
- |
- |
|
Inventory |
-1.9 |
-1.8 |
0.3 |
-2.3 |
1.2 |
|
Prepaid Expenses |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Income Taxes Assets |
-0.3 |
0.0 |
-0.3 |
-0.2 |
-0.7 |
|
Deferred Income Taxes Liabilities |
- |
-0.4 |
0.1 |
0.1 |
0.2 |
|
Trade Payables |
-0.9 |
1.6 |
0.1 |
0.2 |
-0.4 |
|
Other Payables |
0.3 |
1.7 |
-0.1 |
- |
- |
|
LT Account Payable |
- |
- |
0.0 |
- |
- |
|
Accrued Expenses |
0.4 |
0.5 |
-0.1 |
0.2 |
-0.1 |
|
Income Taxes Payables |
0.1 |
0.1 |
0.0 |
-0.1 |
-0.1 |
|
Rental Guarantee Depsits |
-0.1 |
0.1 |
- |
- |
- |
|
Unearned Income |
0.0 |
0.0 |
- |
- |
- |
|
Advance from Customers |
-0.4 |
0.2 |
-1.8 |
1.5 |
-0.2 |
|
Withholdings |
0.0 |
-0.1 |
0.2 |
-0.3 |
0.1 |
|
Succession to Provision for Retirement a |
- |
- |
0.1 |
-0.1 |
-0.1 |
|
Payment for Retirement Allowance |
-0.7 |
-0.8 |
-0.6 |
-0.5 |
-1.1 |
|
Nation Pension Fnd |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Government Subsidy, A/L |
- |
0.0 |
0.1 |
- |
- |
|
Cash-Interest Received |
0.0 |
0.4 |
- |
- |
- |
|
Cash-Interest Paid |
-2.4 |
-2.3 |
- |
- |
- |
|
Cash-Dividend Income |
0.0 |
0.0 |
- |
- |
- |
|
Cash-Tax Paid |
-0.1 |
-0.3 |
- |
- |
- |
|
Cash from Operating Activities |
1.3 |
5.1 |
5.0 |
5.7 |
7.8 |
|
|
|
|
|
|
|
|
Disposal in Current Loans |
23.5 |
16.9 |
13.0 |
8.0 |
25.0 |
|
Dec-Unearned Income |
- |
- |
- |
0.0 |
0.0 |
|
Decrease-Guarantee Deposit |
- |
- |
- |
0.0 |
- |
|
Proceeds from Sale of Derivative Assets |
4.6 |
2.1 |
0.1 |
- |
- |
|
Dec-Account Rcvbls |
- |
- |
- |
1.2 |
1.2 |
|
Dec-Accrued Income |
- |
- |
- |
0.0 |
0.0 |
|
Disposal-Buildings |
- |
- |
- |
- |
0.1 |
|
Disposal of Machinery |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Disposal of Vehicles |
0.1 |
0.0 |
0.1 |
0.0 |
0.0 |
|
Disp-Othr Tang.Asset |
- |
- |
0.0 |
0.0 |
0.6 |
|
Dec-ST Finl Asset |
10.1 |
13.9 |
14.0 |
3.7 |
- |
|
Decrease-LT Financial Assets |
- |
- |
- |
- |
0.0 |
|
Proceeds from Sale of Long-term Investme |
0.3 |
0.2 |
0.4 |
- |
- |
|
Disp-Secs avail for Sale |
- |
- |
- |
- |
0.1 |
|
Increase in Current Loans |
-23.2 |
-15.6 |
-15.2 |
-8.0 |
-19.3 |
|
Inc-Guarantee Dep |
- |
- |
- |
0.0 |
-0.1 |
|
Increase-ST Guarantee Deposit |
- |
- |
- |
-0.1 |
- |
|
Increase-Derevatives in Assets |
-4.7 |
-2.2 |
- |
- |
- |
|
Purchase of Land |
-0.1 |
-3.1 |
- |
- |
-0.2 |
|
Purchase of Buildings |
-1.4 |
-1.0 |
-0.3 |
-0.2 |
-0.3 |
|
Purchase of Structures |
-0.1 |
-0.1 |
0.0 |
0.0 |
0.0 |
|
Purchase of Machinery |
-2.1 |
-1.0 |
-0.8 |
-1.2 |
-1.8 |
|
Purchase of Vehicles |
-0.2 |
-0.3 |
-0.4 |
-0.1 |
-0.2 |
|
Purchase of Other Tangible Assets |
-0.2 |
-0.2 |
-0.1 |
-0.1 |
-0.9 |
|
Purchase of Construction in Progress |
-3.2 |
-3.3 |
-1.4 |
-1.1 |
-1.5 |
|
Inc-ST Finl Asset |
-10.1 |
-13.9 |
-13.6 |
-4.2 |
- |
|
Increase-Securities Available-for-Sale |
- |
- |
- |
-0.5 |
-0.2 |
|
Purchase of Non-Current Investment Secur |
-0.4 |
-0.1 |
-1.3 |
- |
- |
|
Increase-Securities under Equity Method |
- |
- |
- |
-0.6 |
-0.1 |
|
Increase-Membership Right |
-0.4 |
-0.3 |
- |
-0.2 |
-0.2 |
|
Increase-Industrial Property Right |
0.0 |
0.0 |
- |
0.0 |
- |
|
Inc-Account Rcvbls |
- |
- |
- |
-1.2 |
-0.9 |
|
Disposal of Membership Right |
0.2 |
- |
- |
0.2 |
- |
|
Cash from Investing Activities |
-7.2 |
-8.0 |
-5.5 |
-4.4 |
1.4 |
|
|
|
|
|
|
|
|
Increase in Current Borrowings |
182.7 |
167.1 |
138.0 |
130.8 |
93.2 |
|
Inc-ST Borrow.Affil |
- |
- |
- |
- |
7.0 |
|
Inc-LT Acct Payable |
- |
- |
- |
17.8 |
19.4 |
|
Increase-Rent Guarantee Deposit |
- |
- |
- |
0.2 |
- |
|
Disposal-Treasury Stock |
- |
- |
- |
- |
1.4 |
|
Decrease in Current Borrowings |
-176.5 |
-162.5 |
-136.8 |
-107.8 |
-101.0 |
|
Decrease-Borrowings from Affiliates |
- |
- |
- |
- |
-7.1 |
|
Decrease-Lease Guarantee Deposit |
- |
- |
- |
-0.3 |
- |
|
Payment-Dividend |
-0.2 |
-0.2 |
-0.2 |
-0.2 |
-0.3 |
|
Dec-LT Acct Payable |
- |
- |
- |
-17.2 |
-20.6 |
|
Decrease in Current Portion of Long-Term |
-0.6 |
-0.6 |
-0.5 |
- |
- |
|
Decrease-Current Portion of Bond |
- |
- |
- |
-3.6 |
- |
|
Dec-Curr LT Liabs |
- |
- |
- |
-21.4 |
-1.5 |
|
Cash Flow from Foreign Currency Transla |
-0.1 |
-0.1 |
- |
- |
- |
|
Cash from Financing Activities |
5.3 |
3.6 |
0.5 |
-1.8 |
-9.4 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.2 |
0.1 |
- |
- |
- |
|
Net Change in Cash |
-0.4 |
0.8 |
0.1 |
-0.5 |
-0.2 |
|
|
|
|
|
|
|
|
Cash and Cash Equivalents at Beginning |
1.4 |
0.6 |
0.3 |
1.0 |
1.5 |
|
Cash and Cash Equivalents at End |
1.0 |
1.3 |
0.4 |
0.5 |
1.2 |
|
Cash Interest Paid |
2.4 |
2.3 |
- |
- |
- |
|
Cash Taxes Paid |
0.1 |
0.3 |
- |
- |
- |
Financial
Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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Annual
Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.38 |
|
UK Pound |
1 |
Rs.87.80 |
|
Euro |
1 |
Rs.69.48 |
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.