MIRA
INFORM REPORT
|
Report Date : |
06.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
SEMYUNG ELECTRIC
MACHINERY CO., LTD. |
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|
|
Registered Office : |
263-2, Hakjang-dong, Sasang-gu, Busan, Korea |
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Country : |
South Korea |
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Financials (as on) : |
30.09.2011 |
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Date of Incorporation : |
03.02.1984 |
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Com. Reg. No.: |
606-81-08323 |
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|
Legal Form : |
Listed Company (KOSDAQ : 017510) as of 12/18/1991 |
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Line of Business : |
Manufacture of Other Fabricated and Processed Metal Products |
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No. of Employees : |
97 |
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 |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
|
Off-credit |
D |
Basic
|
Company
Name |
SEMYUNG ELECTRIC
MACHINERY CO., LTD. (Korean Company
Name : “세명전기공업(주)”) |
|
Registered Address |
263-2, Hakjang-dong, Sasang-gu, Busan,
Korea |
|
Zip Code |
617-844 |
|
Tel |
+82-51-316-6886 |
|
Fax |
+82-51-324-3995 |
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E-mail |
|
|
Website |
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Trading Address |
263-2, Hakjang-dong, Sasang-gu, Busan,
Korea |
|
Tel |
+82-51-316-6886 |
|
Fax |
+82-51-324-3995 |
|
Other Address-Seoul Office |
Rm. 702, LG Twintel, 157-3, Samseong 1-dong, Gangnam-gu, Seoul, Korea |
|
Tel |
+82-2-555-4111 |
|
Fax |
+82-2-555-1431 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Other Fabricated and Processed Metal Products n.e.c |
|
Main Business |
Electrical Tittings for Transmission, Distribution, Substation Mani
folder, Aluminum Tricot & Rachel Beam |
|
Sub
Business |
Manufacture of Power Transmission for Motor Vehicles |
|
Established (mm/dd/yyyy) |
02/03/1984 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Intake manifolds(26101738) |
|
Sell |
Miscellaneous fasteners(31162400) |
|
Sell |
Electrical insulators(39121721) |
|
Sell |
Coupling sleeves(31163005) |
|
Sell |
Pipe flanges(40142400) |
|
Sell |
Electrical hardware and supplies(39121700) |
|
Sell |
Field strength measuring equipment(41113617) |
|
Sell |
Wire management components and
busways(39121200) |
|
Sell |
Miscellaneous hardware(31162800) |
|
Sell |
Clamps(31162900) |
|
Sell |
Aluminum coil(30101906) |
|
Sell |
Electrical cable and accessories(26121600) |
|
Sell |
Beams(30101700) |
|
Sell |
Surge tanks(20122215) |
|
Sell |
Springs(31161900) |
|
Sell |
Connectors(31163100) |
|
Buy |
Drills(23153301) |
|
Buy |
Aluminum(11101705) |
|
Buy |
End mills(27112803) |
|
Buy |
Iron plate(30102203) |
|
Buy |
Grinders(27111905) |
|
Buy |
Form tools or toolbits(23153303) |
CEO’s
|
Name |
Kwon Jae-Ki |
|
Address |
|
|
Date of Birth |
04/15/1931 |
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Title |
Chairman & CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
|
Capital (KRW) |
7,623,000,000 |
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Employees |
97 |
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|
Formation |
Listed Company (KOSDAQ : 017510) as of 12/18/1991 |
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Bank Details |
Woori Bank-Bupyung Dong Branch |
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Corporate Registered No. |
180111-0052091 |
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Business Registered No. |
606-81-08323 |
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Permit & Licenses |
08/1986 KS Mark 12/08/1995 ISO 9001 12/2002 CE Mark Int’l Trade No.: 12012132 |
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Shareholder Position |
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Company History |
02/1962 Established as SEMYUNG JEONUP
CO.(Sole Proprietorship) 02/03/1984 Incorporated as the present name |
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Detailed Information
Management
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
Chairman & CEO |
Mr. |
Kwon Jae-Ki |
Korean |
1931.04.15 |
Kunkuk Middle School |
|
President & CEO |
Mr. |
Kwon Chul-Hyun |
Korean |
1968.01.13 |
ILLINOIS (Champaign-Urbana) MBA, USA |
|
Director |
Mr. |
Kwon Jae-Ryong |
Korean |
1934.03.29 |
Dong-A University, Korea |
|
Outside Director |
Mr. |
Kim Hong-Chan |
Korean |
1967.08.08 |
Seoul National University, Korea |
|
Auditor |
Mr. |
Lee Dae-Hyun |
Korean |
1968.05.10 |
Busan National University, Korea |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
14,926,027,867 |
59,998,636,820 |
3,262,899,657 |
|
|
2010 |
16,095,316,743 |
58,791,213,352 |
1,871,856,850 |
|
2009 |
14,108,103,338 |
55,956,901,195 |
2,067,085,630 |
|
2008 |
16,274,825,296 |
28,462,427,696 |
1,708,866,582 |
(*)09/2011‘s figures are based on the K-IFRS Accounting System.
Financial Description
|
Authorized Capital(KRW) |
25,000,000,000 |
|
Paid-Up Capital(KRW) |
7,623,000,000 |
|
Total Issued Shares |
15,246,000 |
Balance
Sheet
|
Unit : Korean Won |
01/01/2011~09/30/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Total Assets |
59,998,636,820 |
59,837,234,536 |
|
|
Current
Assets |
11,583,047,583 |
16,723,053,805 |
|
|
Cash & Cash Equivalents |
608,145,584 |
6,839,369,819 |
|
|
Trade Receivables & Other
Receivables |
3,293,755,577 |
2,566,388,266 |
|
|
Current Financial Instruments |
4,360,000,000 |
5,100,900,000 |
|
|
Current Non-Financial Instruments |
507,085,528 |
44,748,045 |
|
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Inventories |
2,814,060,894 |
2,171,647,675 |
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|
Non-Current
Assets |
48,415,589,237 |
43,114,180,731 |
|
|
Non-Current Financial Instruments |
6,816,103,547 |
3,356,617,895 |
|
|
Tangibles |
38,918,008,475 |
37,006,095,064 |
|
|
Investment_Real Estates |
2,258,815,437 |
2,293,197,145 |
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Intangibles |
414,260,262 |
444,636,227 |
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Non-Current Non-Financial
Instruments |
8,401,516 |
13,634,400 |
|
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Total
Liabilities |
11,570,526,683 |
11,297,486,076 |
|
|
Current
Liabilities |
5,021,841,013 |
4,096,519,424 |
|
|
Trade Payables & Other Payables |
1,383,148,084 |
1,331,574,107 |
|
|
Short-Term Borrowings |
1,340,338,888 |
1,636,297,173 |
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Current Portion of Long-Term
Debts |
14,123,820 |
13,229,930 |
|
|
Deferred Income Tax Credit |
1,510,577,986 |
433,784,420 |
|
|
Non-Current Non-Financial Debts |
773,652,235 |
681,633,794 |
|
|
Non-Current
Liabilities |
6,548,685,670 |
7,200,966,652 |
|
|
Long-Term Borrowings |
90,158,780 |
100,864,320 |
|
|
Deferred Income Tax Credit |
6,183,526,890 |
6,825,102,332 |
|
|
Non-Current Financial Debts |
275,000,000 |
275,000,000 |
|
|
Capital
Stock |
7,623,000,000 |
7,623,000,000 |
|
|
Capital Surplus |
45,295,846 |
45,295,846 |
|
|
Others |
-2,185,621,850 |
121,696,130 |
|
|
Profit Surplus |
42,945,436,141 |
40,749,756,484 |
|
|
Total Equity |
48,428,110,137 |
48,539,748,460 |
|
|
Liab. & Shareholder’s Equity |
59,998,636,820 |
59,837,234,536 |
|
Balance Sheet
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
58,791,213,352 |
55,956,901,195 |
28,462,427,696 |
|
Current Assets |
16,723,053,805 |
11,692,787,427 |
12,817,309,559 |
|
-Quick Assets |
14,551,406,130 |
10,029,696,252 |
10,909,816,383 |
|
-Inventories |
2,171,647,675 |
1,663,091,175 |
1,907,493,176 |
|
Fixed Assets |
42,068,159,547 |
44,264,113,768 |
15,645,118,137 |
|
-Investment |
3,687,404,955 |
7,961,718,576 |
3,768,718,911 |
|
-Tangibles |
38,253,271,025 |
36,088,172,140 |
10,974,830,148 |
|
-Intangibles |
113,849,167 |
157,188,652 |
201,797,843 |
|
-Others |
13,634,400 |
57,034,400 |
699,771,235 |
|
Total Liabilities |
9,397,221,532 |
7,742,811,627 |
2,176,304,772 |
|
Current Liabilities |
4,013,124,239 |
2,155,213,821 |
1,801,359,837 |
|
Fixed Liabilities |
5,384,097,293 |
5,587,597,806 |
374,944,935 |
|
Capital Stock |
7,623,000,000 |
7,623,000,000 |
7,623,000,000 |
|
Capital Surplus |
4,079,217,901 |
4,079,217,901 |
4,079,217,901 |
|
Profit Surplus |
17,610,355,987 |
16,805,719,137 |
15,805,853,507 |
|
Capital Adjustment |
20,081,417,932 |
19,706,152,530 |
-1,221,948,484 |
|
Total Equity |
49,393,991,820 |
48,214,089,568 |
26,286,122,924 |
|
Liab. & Shareholder’s Equity |
58,791,213,352 |
55,956,901,195 |
28,462,427,696 |
Income
Statement
|
Unit : Korean Won |
01/01/2011~09/30/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Sales |
14,926,027,867 |
|
|
|
Cost of Sold Goods |
10,113,414,335 |
|
|
|
Gross Profit |
4,812,613,532 |
|
|
|
Selling Expenses |
427,655,700 |
|
|
|
Admin. Expenses |
587,611,822 |
|
|
|
Other Operating Income |
1,143,445,191 |
|
|
|
Other Operating Expenses |
198,752,462 |
|
|
|
Operating Income |
4,742,038,739 |
|
|
|
Finance Income |
205,171,144 |
|
|
|
Finance Expenses |
7,572,612 |
|
|
|
Income Before Taxes |
4,939,637,271 |
|
|
|
Income Taxes Expenses |
1,676,737,614 |
|
|
|
Net Income |
3,262,899,657 |
|
|
Income Statement
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
16,095,316,743 |
14,108,103,338 |
16,274,825,296 |
|
Cost of Sold Goods |
14,525,306,979 |
12,231,850,609 |
12,346,519,118 |
|
Gross Profit |
1,570,009,764 |
1,876,252,729 |
3,928,306,178 |
|
Selling & Admin. Expenses |
1,267,687,798 |
1,541,625,167 |
1,373,083,008 |
|
Operating Income |
302,321,966 |
334,627,562 |
2,555,223,170 |
|
Non-Operating Income |
2,754,560,466 |
2,880,686,791 |
1,157,327,301 |
|
Non-Operating Expenses |
778,588,610 |
1,054,310,423 |
1,026,411,874 |
|
Income Before Taxes |
2,278,293,822 |
2,161,003,930 |
2,686,138,597 |
|
Income Taxes Expenses |
406,436,972 |
93,918,300 |
977,272,015 |
|
Net Income |
1,871,856,850 |
2,067,085,630 |
1,708,866,582 |
Cash
Flows
|
Unit : Korean Won |
01/01/2011~09/30/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Operating
Activities Cash Flows |
2,347,230,026 |
|
|
|
Net Income |
3,262,899,657 |
|
|
|
Adjustment |
-315,725,583 |
|
|
|
Income Taxes |
-599,944,048 |
|
|
|
Cash Flows from Investing |
-7,090,844,864 |
|
|
|
Cash Flows from Financing |
-1,489,225,245 |
|
|
|
Increase/Decrease in Cash |
-6,232,840,083 |
|
|
|
Cash at the Beginning of Year |
6,839,369,819 |
|
|
|
Cash at the End of Year |
608,145,584 |
|
|
Cash Flows
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows from Operating |
338,042,379 |
1,464,637,853 |
3,456,686,896 |
|
-Net Income |
1,871,856,850 |
2,067,085,630 |
1,708,866,582 |
|
-Exp. without Cash Outflow |
2,363,718,133 |
1,498,808,034 |
1,489,303,170 |
|
-Revenue without Cash Inflows |
-2,076,599,961 |
-2,146,724,635 |
-381,956,116 |
|
-Changes in Asset/ & Liability |
-1,820,932,643 |
45,468,824 |
640,473,260 |
|
Cash Flows from Investing |
4,749,872,699 |
-157,846,730 |
-2,084,210,732 |
|
-Cash Inflow from Investing |
49,739,520,908 |
43,170,886,385 |
29,034,389,211 |
|
-Cash Outflows for Investing |
-44,989,648,209 |
-43,328,733,115 |
-31,118,599,943 |
|
Cash Flows from Financing |
535,465,123 |
-1,011,163,540 |
-1,036,569,280 |
|
-Cash Inflows from Financing |
1,754,755,173 |
110,000,000 |
113,000,000 |
|
-Cash Outflows from Financing |
-1,219,290,050 |
-1,121,163,540 |
-1,149,569,280 |
|
Increase/Decrease in Cash |
5,623,380,201 |
295,627,583 |
335,906,884 |
|
Cash at the Beginning of Year |
1,215,989,618 |
920,362,035 |
584,455,151 |
|
Cash at the End of Year |
6,839,369,819 |
1,215,989,618 |
920,362,035 |
Products, Technologies, Services Description
|
Main Products & Services |
Electrical Tittings for Transmission, Distribution, Substation Mani
folder, Aluminum Tricot & Rachel Beam |
Trade Partners & Competitors
|
Suppliers |
DONG-A KANG UP CO., LTD.(180111-0049311) WONCHANG METAL CO., LTD.(134811-0020355) |
|
Customers |
KOREA ELECTRIC POWER CORPORATION(114671-0001456) |
Sales by Region (Activity &
Markets)
|
Sales/ Unit :Mil KRW |
09/2011 |
2010 |
2009 |
|
Export |
3,585 |
1,252 |
857 |
|
Domestic |
11,341 |
10,763 |
9,467 |
|
Total |
14,926 |
12,015 |
10,324 |
The Subject deals
with the companies in Taiwan and Japan.
Court Action
No.
News Clipping
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.96 |
|
|
1 |
Rs.77.46 |
|
Euro |
1 |
Rs.64.39 |
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.