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Report Date : |
12.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
AKZO NOBEL AMIDES CO., LTD. |
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|
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Registered Office : |
1070-2, Hwangseong-dong, Gyeongju-si, Gyeongsangbuk-do, |
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|
|
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Country : |
South Korea |
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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 : |
29.09.1998 |
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Reg. No.: |
505-81-16495 |
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|
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Legal Form : |
Co., Ltd by shares |
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|
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Line of Business : |
Manufacture of Other Basic Organic Chemicals |
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|
|
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No. of Employees : |
39 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
South Korea - ECONOMIC OVERVIEW
South Korea over the past four decades has demonstrated incredible growth and global integration to become a high-tech industrialized economy. In the 1960s, GDP per capita was comparable with levels in the poorer countries of Africa and Asia. In 2004, South Korea joined the trillion dollar club of world economies, and currently is among the world's 20 largest economies. Initially, a system of close government and business ties, including directed credit and import restrictions, made this success possible. The government promoted the import of raw materials and technology at the expense of consumer goods, and encouraged savings and investment over consumption. The Asian financial crisis of 1997-98 exposed longstanding weaknesses in South Korea''s development model including high debt/equity ratios and massive short-term foreign borrowing. GDP plunged by 6.9% in 1998, and then recovered by 9% in 1999-2000. Korea adopted numerous economic reforms following the crisis, including greater openness to foreign investment and imports. Growth moderated to about 4% annually between 2003 and 2007. With the global economic downturn in late 2008, South Korean GDP growth slowed to 0.3% in 2009. In the third quarter of 2009, the economy began to recover, in large part due to export growth, low interest rates, and an expansionary fiscal policy, and growth was 3.6% in 2011. In 2011, the US-South Korea Free Trade Agreement was ratified by both governments and is projected to go into effect in early 2012. The South Korean economy''s long term challenges include a rapidly aging population, inflexible labor market, and heavy reliance on exports - which comprise half of GDP.
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Source : CIA |
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Company Name |
AKZO NOBEL AMIDES CO., LTD. |
|
Registered Address |
1070-2, Hwangseong-dong, Gyeongju-si, Gyeongsangbuk-do, Korea |
|
Zip Code |
780-952 |
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Tel |
+82-54-770-4500 |
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Fax |
+82-54-776-0623 |
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E-mail |
sukwon.jung@akzonobel.com |
|
Website |
www.akzonobel.com |
|
Trading Address |
101-908, Yeouido The Sharp Island Park, 17, Yeouido-dong,
Yeongdeungpo-gu, Seoul, Korea |
|
Tel |
+82-2-2090-7360~5 |
|
Fax |
+82-2-392-5188 |
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Type |
Export/Import |
|
Industry |
Manufacture of Other Basic Organic Chemicals |
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Main Business |
Amide, Erucamide |
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Established (mm/dd/yyyy) |
09/29/1998 |
The Subject owns the premises of registered
HQ address.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Amides or imides(12352111) |
|
Buy |
Biochemicals(12352200) |
|
Buy |
Inorganic acids(12352301) |
|
Name |
Lee Kyung-Ryun |
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Address |
Suite 202-401, 1380, Yonggang-dong,
Gyeongju-si, Gyeongbuk, Korea |
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Date of Birth |
03/17/1957 |
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Title |
President & CEO |
|
Sex |
Male |
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Nationality |
Korean |
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Capital (KRW) |
5,350,000,000 |
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Employees |
39 |
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Formation |
Co., Ltd by shares Foreign Direct Investment Corporation |
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Bank Details |
Citibank |
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Corporate Registered No. |
171211-0018258 |
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Business Registered No. |
505-81-16495 |
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Permit & Licenses |
Int’l Trade No.: 11567114 |
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Shareholder Position |
|
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Company History |
09/29/1998 Incorporated as the present name 10/13/1998 Registered as a Foreign Direct
Investment Corporation 12/21/2007 Decreased the authorized shares to 550 shares from 700
shares 12/21/2007 Decreased capital to 5,350,000,000 KRW from 6,850,000,000
KRW |
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|
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lee Kyung-Ryun |
Male |
Korean |
04/30/2007 |
|
Director |
Mr. |
Jan Allen Lenatsbad |
Male |
Swedish |
04/20/2011 |
|
Director |
Mr. |
Steven Hunt |
Male |
USA |
09/29/2010 |
|
Auditor |
Mr. |
Richard Bekers |
Male |
Netherlands |
08/01/2011 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
38,762,155,040 |
16,467,158,612 |
2,606,503,962 |
|
|
2010 |
43,054,719,135 |
20,104,188,767 |
5,492,671,069 |
|
2009 |
43,239,559,098 |
23,323,704,742 |
7,022,158,128 |
|
2008 |
31,153,019,209 |
16,496,997,912 |
4,582,441,663 |
|
2007 |
24,677,811,352 |
14,560,195,792 |
4,132,646,493 |
|
2006 |
25,018,414,511 |
14,800,822,981 |
2,966,246,905 |
|
2005 |
27,285,727,027 |
14,334,424,114 |
2,308,098,778 |
|
2004 |
19,822,014,467 |
11,639,574,709 |
2,255,013,075 |
|
Authorized Capital(KRW) |
7,000,000,000 |
|
Paid-Up Capital(KRW) |
5,350,000,000 |
|
Total Issues Shares |
535 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Total Assets |
16,467,158,612 |
20,104,188,767 |
23,323,704,742 |
|
Current Assets |
8,798,811,301 |
16,847,012,544 |
19,983,643,131 |
|
-Quick Assets |
5,150,008,967 |
13,142,022,141 |
17,463,156,673 |
|
-Inventories |
3,648,802,334 |
3,704,990,403 |
2,520,486,458 |
|
Fixed Assets |
7,668,347,311 |
3,257,176,223 |
3,340,061,611 |
|
-Investment |
4,540,510,100 |
56,857,300 |
55,032,300 |
|
-Tangibles |
3,002,911,466 |
3,073,959,212 |
3,160,059,446 |
|
-Intangibles |
124,925,745 |
126,359,711 |
124,969,865 |
|
Total Liabilities |
6,081,513,927 |
7,331,710,709 |
9,870,400,859 |
|
Current Liabilities |
6,081,513,927 |
7,331,710,709 |
9,870,400,859 |
|
Fixed Liabilities |
- |
- |
- |
|
Capital Stock |
5,350,000,000 |
5,350,000,000 |
5,350,000,000 |
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Capital Surplus |
|
|
|
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Profit Surplus |
5,035,644,685 |
7,422,478,058 |
8,103,303,883 |
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Capital Adjustment |
|
|
|
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Total Equity |
10,385,644,685 |
12,772,478,058 |
13,453,303,883 |
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Liab. & Shareholder’s Equity |
16,467,158,612 |
20,104,188,767 |
23,323,704,742 |
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Current Liabilities |
6,081,513,927 |
7,331,710,709 |
9,870,400,859 |
|
Trade Payables |
4,755,368,404 |
5,919,175,570 |
6,426,503,384 |
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Account Payables |
663,069,655 |
708,787,564 |
726,531,827 |
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Accrued Expenses |
437,165,697 |
127,723,518 |
377,365,916 |
|
Accrued Expenses |
19,885,218 |
- |
13,547,548 |
|
Withholdings |
109,358,719 |
116,791,886 |
105,577,155 |
|
Accrued Income Tax |
96,666,234 |
459,232,171 |
2,220,875,029 |
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Fixed Liabilities |
- |
- |
- |
|
Provision for Severance & Retirement |
- |
- |
- |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Sales |
38,762,155,040 |
43,054,719,135 |
43,239,559,098 |
|
Cost of Sold Goods |
31,282,066,796 |
31,363,736,326 |
29,580,032,096 |
|
Gross Profit |
7,480,088,244 |
11,690,982,809 |
13,659,527,002 |
|
Selling & Admin. Expenses |
4,302,110,250 |
4,513,361,591 |
4,147,229,451 |
|
Operating Income |
3,177,977,994 |
7,177,621,218 |
9,512,297,551 |
|
Non-Operating Income |
1,599,279,206 |
2,241,466,257 |
1,837,107,908 |
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Non-Operating expenses |
1,397,729,507 |
2,238,264,268 |
2,122,067,340 |
|
Income Before Taxes |
3,379,527,693 |
7,180,823,207 |
9,227,338,119 |
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Income Taxes Expenses |
773,023,731 |
1,688,152,138 |
2,205,179,991 |
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Net Income |
2,606,503,962 |
5,492,671,069 |
7,022,158,128 |
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Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Cash Flows from Operating |
2,943,618,524 |
5,504,017,228 |
10,391,703,987 |
|
-Net Income |
2,606,503,962 |
5,492,671,069 |
7,022,158,128 |
|
-Exp. without Cash Outflow |
1,044,597,795 |
818,148,907 |
897,282,783 |
|
-Revenue without Cash Inflows |
-138,533,753 |
-146,532,055 |
-118,307,644 |
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-Changes in Asset/ & Liability |
-568,949,480 |
-660,270,693 |
2,590,570,720 |
|
Cash Flows from Investing |
-299,979,237 |
-791,875,581 |
-3,162,524,399 |
|
-Cash Inflow from Investing |
4,520,987,727 |
8,652,273 |
13,072,727 |
|
-Cash Outflows for Investing |
-4,820,966,964 |
-800,527,854 |
-3,175,597,126 |
|
Cash Flows from Financing |
-4,993,337,335 |
-6,173,496,894 |
-4,165,856,057 |
|
-Cash Inflows from Financing |
- |
- |
- |
|
-Cash Outflows from Financing |
-4,993,337,335 |
-6,173,496,894 |
-4,165,856,057 |
|
Increase/Decrease in Cash |
2,349,698,048 |
1,461,355,247 |
3,063,323,531 |
|
Cash at the Beginning of Year |
3,037,151,369 |
4,498,506,616 |
1,435,183,085 |
|
Cash at the End of Year |
687,453,321 |
3,037,151,369 |
4,498,506,616 |
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Main Products & Services |
Amide, Erucamide |
|
Detailed Products Spec. |
|
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Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
|
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Competitors |
LION CHEMTECH CO., LTD. 41-5, MUNPYEONG-DONG, DAEDEOK-GU, DAEJEON,
KOREA TEL:+82-42-930-3300 FAX:+82-42-930-3333 HEEMANG TECHFLON CO. 598-1, OJEONG-DONG, OJEONG-GU, BUCHEON-SI,
GYEONGGI-DO, KOREA TEL:+82-32-671-1300 FAX:+82-32-671-1302 GEO-YOUNG CORPORATION 46-4, SSANGJEONG-RI, MAENGDONG-MYEON,
EUMSEONG-GUN, CHUNGCHEONGBUK-DO, KOREA TEL:+82-43-877-3463 FAX:+82-43-878-0738 |
|
Affiliates |
AKZO NOBEL POLYMER CHEMICALS B.V. AKZO NOBEL POLYMER CHEMICALS LLC AKZO NOBEL LTDA. TIANJIN AKZO NOBEL PEROXIDES CO., LTD. AKZO NOBEL CROSS LINKING PEROXIDES CO.,
LTD. KAYAKU AKZO CORPORATION AKZO NOBEL QUIMICA S.A. AKZO NOBEL CHEMICALS INDIA LTD. AKZO NOBEL CHEMICALS PTE LTD. AKZO NOBEL CHEMICALS S.A.DE C.V. AKZO NOBEL N.V. AKZO NOBEL ASIA PTE LTD. AKZO NOBEL INDUSTRIAL CHEMICALS BV. AKZO NOBEL INDUSTRIAL COATINGS KOREA LTD |
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Overseas Office |
|
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Liaison Office |
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Overseas Branch |
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Joint Venture |
|
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Subsidiary |
|
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Corporate Ownership |
AKZO NOBEL CHEMICALS INTERNATIONAL B.V.(NETHERLANDS) |
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Major Shareholders |
AKZO NOBEL CHEMICALS INTERNATIONAL B.V.(NETHERLANDS) |
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Cooperative Enterprise |
-Insured Company HYUNDAI MARINE & FIRE INSURANCE CO., LTD.(110111-0035893) -Brand & Technology Support from AKZO NOBEL CHEMICALS INTERNATIONAL B.V.(NETHERLANDS) |
Sales by Region
(Activity & Markets)
|
Sales/ Unit :Mil KRW |
2011 |
2010 |
2009 |
|
Export |
|
|
|
|
Domestic |
|
|
|
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Total |
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The Subject deals with the companies in USA,
Asia, Middle East and Europe.
No.
Not Available
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.32 |
|
|
1 |
Rs.87.36 |
|
Euro |
1 |
Rs.70.36 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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.