|
Report Date : |
15.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
SK LUBRICANTS CO., LTD. |
|
|
|
|
Registered Office : |
99, Seorin-dong, Jongno-gu, Seoul |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
30.09.2012 |
|
|
|
|
Date of Incorporation : |
10.05.2009 |
|
|
|
|
Reg. No.: |
101-86-49595 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Manufacture of Lubricating Oils and Greases |
|
|
|
|
No. of Employees : |
311 |
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 |
|
Very High |
C1 |
|
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.
|
Source : CIA |
|
Company Name |
SK LUBRICANTS CO., LTD. |
|
Registered Address |
99, Seorin-dong, Jongno-gu, Seoul, Korea |
|
Building |
SK Bldg. |
|
Zip Code |
110-728 |
|
Tel |
+82-2-2121-6114 |
|
Fax |
+82-2-2121-7111 |
|
E-mail |
krk@sklube.com |
|
Website |
www.sklubricants.com;www.sklube.com |
|
Trading Address |
SK Bldg., 99, Seorin-dong, Jongno-gu, Seoul, Korea (New Address System : 26, Jong-ro, Jongno-gu, Seoul, Korea) |
|
Tel |
+82-2-2121-5555 |
|
Fax |
+82-2-2121-7111 |
|
Other Address-R&D Center |
140-1, Wonchon-dong, Yuseong-gu, Daejeon, Korea |
|
Tel |
+82-42-866-7301 |
|
Fax |
+82-42-866-7302 |
|
Other Address-Ulsan Complex |
110, Gosa-dong, Nam-gu, Ulsan, Korea |
|
Tel |
+82-52-208-2114 |
|
Fax |
+82-52-208-2002 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Lubricating Oils and Greases |
|
Main
Business |
Lubricant, Grease |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
10/05/2009 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Grease(15121902) |
|
Sell |
Engine oil(15121501) |
|
Sell |
Brake oil(15121509) |
|
Sell |
Gear oil(15121503) |
|
Sell |
Lubricating preparations(15121500) |
|
Name |
Choi Kwan-Ho |
|
Address |
- |
|
Date of Birth |
08/10/1956 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
100,000,000,000 |
|||||||||
|
Employees |
311 |
|||||||||
|
Formation |
Co., Ltd by shares A Company of SK Group |
|||||||||
|
Bank Details |
Hana Bank |
|||||||||
|
Corporate Registered No. |
110111-4191815 |
|||||||||
|
Business Registered No. |
101-86-49595 |
|||||||||
|
Permit & Licenses |
Int’l Trade No.: 30669666 |
|||||||||
|
Shareholder Position |
|
|||||||||
|
Company History |
10/05/2009 Incorporated as the present
name, after spinning off from SK ENERGY CO., LTD.(110111-3710385) |
|||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
President & CEO |
Mr. |
Choi Kwan-Ho |
Korean |
1956.08.10 |
Hanyang University, Korea |
|
Director |
Mr. |
Ku Ja-Young |
USA |
1947.12.07 |
UC BERKELEY University, USA |
|
Director |
Mr. |
Lee Bae-Hyun |
Korean |
1959.01.29 |
Singapore National University, Simgapore |
|
Director |
Mr. |
Kim Kyung-Won |
Korean |
1960.10 |
KAIST, Korea |
|
Director |
Mr. |
Cha Jin-Seok |
Korean |
1963.04.11 |
Michigan University, USA |
|
Director |
Mr. |
You Sung-Hyun |
Korean |
1962.08.20 |
Seogang University, Korea |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
1,954,318,345,000 |
2,162,769,757,000 |
112,674,224,000 |
|
|
(*)2011 |
2,673,128,615,000 |
1,840,888,447,000 |
375,027,887,000 |
|
(*)2010 |
2,003,365,602,000 |
1,289,099,890,000 |
217,502,430,000 |
|
2009 |
- |
1,036,911,487,000 |
- |
(*)Figures are based on the K-IFRS Accounting
System.
Financial
Description
|
Authorized Capital(KRW) |
400,000,000,000 |
|
Paid-Up Capital(KRW) |
100,000,000,000 |
|
Total Issues Shares |
20,000,000 |
|
Unit : Thousand Korean Won |
01/01/2012~09/30/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Total Assets |
2,162,769,757 |
1,840,888,447 |
1,289,099,890 |
|
Current Assets |
1,366,543,385 |
1,234,830,421 |
960,414,368 |
|
Cash & Cash Equivalents |
121,933,952 |
104,833,344 |
191,217,184 |
|
Trade Receivables |
630,588,540 |
700,715,007 |
520,520,765 |
|
Other Receivables |
18,252,104 |
14,072,777 |
11,343,392 |
|
Unearned Income |
152,581 |
51,334 |
583,044 |
|
Prepaid Expenses |
3,635,839 |
833,685 |
706,570 |
|
Advance Payments |
32,948,250 |
55,782,407 |
41,995,224 |
|
Inventories |
553,636,479 |
357,455,196 |
189,769,866 |
|
Derivatives |
5,395,640 |
1,086,671 |
4,278,323 |
|
Non-Current Assets |
796,226,372 |
606,058,026 |
328,685,522 |
|
Other Financial Assets |
11,500 |
11,500 |
11,500 |
|
Marketable Financial Instruments |
16,600,171 |
16,598,518 |
198,821 |
|
Investment_Subsidiaries |
435,385,022 |
319,416,169 |
123,282,532 |
|
Long-Term Loan |
5,319,906 |
5,319,906 |
5,352,910 |
|
Tangibles |
333,904,910 |
259,161,423 |
197,410,782 |
|
Intangibles |
4,434,182 |
5,133,966 |
2,093,827 |
|
Guarantees |
570,681 |
416,544 |
335,150 |
|
Total Liabilities |
1,323,051,395 |
953,298,436 |
686,224,086 |
|
Current Liabilities |
860,436,017 |
504,499,534 |
234,026,242 |
|
Trade Payables |
172,728,010 |
204,261,441 |
75,733,530 |
|
Short-Term Borrowings |
484,965,545 |
- |
- |
|
Account Payables |
896,690 |
2,325,017 |
10,480,632 |
|
Accrued Expenses |
53,853,381 |
52,012,077 |
42,755,389 |
|
Advance Receipts |
567,867 |
2,275,781 |
2,119,312 |
|
Withholdings |
7,527,883 |
961,413 |
963,873 |
|
Accrued Income Tax |
5,113,236 |
86,061,183 |
49,392,278 |
|
Current Portion of Long-Term
Debts |
134,052,090 |
149,835,739 |
49,917,611 |
|
Derivatives |
731,315 |
6,766,883 |
2,663,617 |
|
Non-Current Liabilities |
462,615,378 |
448,798,902 |
452,197,844 |
|
Debentures |
448,606,982 |
437,055,501 |
435,284,908 |
|
Confirmed Salaries |
1,314,161 |
296,319 |
4,532,329 |
|
Finanfce Guarantee |
156,998 |
167,815 |
- |
|
Deferred Income Tax Credit |
12,537,237 |
11,279,267 |
12,380,607 |
|
Capital Stock |
100,000,000 |
100,000,000 |
100,000,000 |
|
Capital Surplus |
254,309,715 |
254,309,715 |
254,309,715 |
|
Others |
-106,318 |
-107,571 |
-49,361 |
|
Profit Surplus |
485,514,965 |
533,387,867 |
248,615,450 |
|
Total Equity |
839,718,362 |
887,590,011 |
602,875,804 |
|
Liab. & Shareholder’s Equity |
2,162,769,757 |
1,840,888,447 |
1,289,099,890 |
|
Unit : Thousand Korean Won |
01/01/2012~09/30/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Sales |
1,954,318,345 |
2,673,128,615 |
2,003,365,602 |
|
Cost of Sold Goods |
1,620,014,065 |
1,967,729,910 |
1,529,622,852 |
|
Gross Profit |
334,304,280 |
705,398,705 |
473,742,750 |
|
Selling & Admin. Expenses |
-168,128,160 |
-201,172,879 |
-150,601,050 |
|
Other Operating Income |
15,558,470 |
60,003,702 |
33,223,395 |
|
Other Operating Expenses |
-35,809,983 |
-55,797,769 |
-43,819,319 |
|
Operating Income |
145,924,607 |
508,431,759 |
312,545,776 |
|
Non-Operating Income |
989,334 |
-18,873,485 |
-22,782,500 |
|
Finance Income |
43,624,992 |
49,057,757 |
44,857,483 |
|
Finance Expenses |
-42,635,658 |
-67,931,242 |
-67,639,983 |
|
Income Before Taxes |
146,913,941 |
489,558,274 |
289,763,276 |
|
Income Taxes Expenses |
34,239,717 |
114,530,387 |
72,260,846 |
|
Net Income |
112,674,224 |
375,027,887 |
217,502,430 |
|
Unit : Thousand Korean Won |
01/01/2012~09/30/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Operating Activities Cash Flows |
-113,281,919 |
197,376,119 |
148,309,972 |
|
Net Income |
112,674,224 |
375,027,887 |
217,502,430 |
|
Adjustment |
-94,219,455 |
-80,377,147 |
-24,327,049 |
|
Interests Received |
2,274,489 |
5,314,972 |
3,825,159 |
|
Dividends Received |
251,517 |
250,443 |
- |
|
Interests Paid |
-20,826,537 |
-23,830,707 |
-25,142,049 |
|
Income Taxes |
-113,436,157 |
-79,009,329 |
-23,548,519 |
|
Cash Flows from Investing |
-201,197,842 |
-292,254,459 |
-116,101,479 |
|
Cash Flows from Financing |
331,580,369 |
8,494,500 |
-11,294,438 |
|
Increase/Decrease in Cash |
17,100,608 |
-86,383,840 |
20,914,055 |
|
Cash at the Beginning of Year |
104,833,344 |
191,217,184 |
170,303,129 |
|
Cash at the End of Year |
121,933,952 |
104,833,344 |
191,217,184 |
|
Main Products & Services |
Lubricant, Grease Brand Name : ZIC, YUBASE |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
HYUNDAI OIL REFINERY CO., LTD.(110111-0090558) |
|
Customers |
|
|
Competitors |
GS CALTEX CORPORATION GS GANGNAM TOWER, 679, YEOKSAM 1-DONG,
GANGNAM-GU, SEOUL, KOREA TEL:+82-2-2005-1114 FAX:+82-2-2005-6051 S-OIL CORPORATION 45TH FL., KOREA LIFE INSURANCE 63 BLDG.,
60, YEOEUIDO-DONG, YEONGDEUNGPO-GU, SEOUL, KOREA TEL:+82-2-3772-5151 FAX:+82-2-786-4030 ISU CHEMICAL CO., LTD. 112-4, BANPO 4-DONG, SEOCHO-GU, SEOUL,
KOREA TEL:+82-2-590-6600 FAX:+82-2-590-6666 |
|
Affiliates-Domestic |
SK INNOVATION CO., LTD.(110111-3710385) SK TELECOM CO., LTD.(110111-0371346) SK C&C CO., LTD.(110111-0769583) SK TELINK, CORP.(110111-1533599) INNOACE CO., LTD(110111-2104026) PAXNET, INC.(110111-1698830) IHQ, INC.(110111-0042393) AIRCROSS CO., LTD.(110111-2121765) TU MEDIA CORPORATION(110111-2907826) SK COMMUNICATIONS CO., LTD.(110111-1322885) COMMERCE PLANET CO., LTD.(110111-1416133) F&U CREDIT INFORMATION CO.,
LTD.(135311-0003300) SK WYVERNS CO., LTD(120111-0217366) SK HOLDINGS CO., LTD.(110111-0022816) SK ENGINEERING & CONSTRUCTION CO., LTD.(110111-0038805) SK TELESYS CO., LTD.(110111-1405897) LOEN ENTERTAINMENT, INC.(134111-0010706) INFOSEC CO., LTD(110111-2007858) INDEPENDENCE CO., LTD.(110111-2010116) SKC MEDIA CO., LTD.(161511-0076377) IFILM CORPORATION(110111-2857451) SK BROADBAND CO., LTD.(110111-1466659) CU MEDIA. INC.(110111-2031477) NTREEV SOFT CO., LTD.(110111-2906456) SK I-MEDIA CO., LTD.(110111-3505851) IPLATFORM, INC(110111-3638917) NURI SOLUTION CO., LTD.(110111-1866213) HANAROMEDIA INC.(110111-3292664) HANARO DREAM INCORPORATED(110111-2183343) BROADBAND D&M CO., LTD.(110111-1509269) NOWON JOEUN TELECOM CO.,
LTD.(110111-3655218) MIRACLE INFORMATION & TELECOMMUNICATION
CO., LTD.(120111-0433491) ENCAR NETWORKS LTD.(110111-2125270) SK MARKETING & COMPANY CO., LTD.(110111-3874066) |
|
Affiliates-Domestic |
QC I&T CO., LTD.(110111-3675381) QL KWANAK CO., LTD.(110111-3826140) QL DONGJAK CO., LTD.(110111-3729740) QL SEOCHO CO., LTD.(110111-3729807) QL YONGSAN CO., LTD.(110111-3761023) QL YANGCHEON CO., LTD.(110111-3729609) SK NETWORKS CO., LTD.(130111-0005199) SK SHIPPING CO., LTD.(110111-0311392) MRO KOREA CO., LTD(110111-2016940) SK D&D CO., LTD.(110111-3001685) OK CASHBAG SERVICE CO., LTD.(110111-1873432) SK NETWORKS SERVICE CO., LTD.(135811-0141788) BROADBAND TS CO., LTD.(281111-0119401) BROADBAND CS CO., LTD.(110111-1592595) BROADBAND SEOUL CS CO., LTD.(110111-3558842) BROADBAND BUSAN CS CO., LTD.(180111-0573774) BROADBAND GYEONGGI CS CO., LTD.(134111-0147575) BROADBAND GWANGJU CS CO., LTD.(200111-0233050) ANTS CO., LTD.(151111-0031058) ULLEUNG DEEP SEA WATER CO., LTD(110111-3224724) WS TRADING CO., LTD.(110111-3448712) SK SECURITIES CO., LTD(110111-0037112) SOLMICS CO., LTD.(134711-0014631) UB CARE CO., LTD.(110111-1105364) MECHARONICS CO., LTD.(120111-0233338) ULLEUNG MINERAL CO., LTD.(110111-2602244) WALKERHILL INC.(110111-0142854) REAL BEST CO., LTD. |
|
Overseas Office |
|
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
|
|
Subsidiary |
SK LUBRICANTS AMERICAS, INC. SK LUBRICANTS EUROPE B.V. SK ENERGY LUBRICANTS (TIANJIN) CO., LTD. SK LUBRICANTS JAPAN CO., LTD PT. PATRA SK YUBASE MANUFACTURING ASIA
CORPORATION(230111-0168673) SK LUBRICANTS & OILS INDIA PVT. LTD SKSOL LUBE BASE OILS, S.A. |
|
Corporate Ownership |
SK INNOVATION CO., LTD.(110111-3710385) |
|
Major Shareholders |
SK INNOVATION CO., LTD.(110111-3710385) |
|
Cooperative Enterprise |
|
|
Sales/ Unit : Thousand KRW |
09/2010 |
2009 |
2008 |
|
Export |
1,522,289,891 |
2,030,376,772 |
1,566,548,936 |
|
Domestic |
424,336,449 |
638,570,063 |
436,361,386 |
|
Others |
7,692,005 |
4,181,780 |
455,280 |
|
Total |
1,954,318,345 |
2,673,128,615 |
2,003,365,602 |
The Subject deals with the companies in USA,
Australia, China, Indonesia, India and Vietnam.
|
Case No. |
Court |
Plaintiff(s)/ Creditor(s)/ Applicant(s) |
Defendant(s)/ Debtor(s)/ Respondent(s) |
Cause |
Amount (Million KRW) |
Status |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
No.
Not Available
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
|
1 |
Rs.87.78 |
|
Euro |
1 |
Rs.71.29 |
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.