MIRA
INFORM REPORT
|
Report Date : |
11.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
PUNGNONG CO.,
LTD. |
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|
|
|
Registered Office : |
309-1, Mapo-dong, Mapo-gu, Seoul |
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|
|
|
Country : |
South Korea |
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|
|
|
Financials (as on) : |
31.12.2010 |
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|
|
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Date of Incorporation : |
22.12.1962 |
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|
|
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Com. Reg. No.: |
105-81-03956 |
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|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Manufacture of Composite Fertilizers |
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|
|
|
No. of Employees : |
230 |
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 : |
Good |
|
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Basic
|
Company Name |
PUNGNONG CO.,
LTD. (Korean Company Name
: “(주)풍농”) |
|
Registered Address |
309-1, Mapo-dong, Mapo-gu, Seoul, Korea |
|
Building |
Geunpung Bldg. |
|
Zip Code |
121-050 |
|
Tel |
+82-2-712-8791 |
|
Fax |
+82-2-719-1942 |
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E-mail |
|
|
Website |
|
|
Trading Address |
Geunpung Bldg., 309-1, Mapo-dong, Mapo-gu,
Seoul, Korea |
|
Tel |
+82-2-712-8791 |
|
Fax |
+82-2-719-1942 |
|
Other Address-Hadong Factory |
324-2, Daedeok-ri, Gojeon-myeon,
Hadong-gun, Gyeongsangnam-do, Korea |
|
Tel |
+82-55-883-8927 |
|
Fax |
+82-55-882-4107 |
|
Other Address-Janghang Factory |
379, Sinchang-ri, Janghang-eup, Seocheon-gun, Chungcheongnam-do, Korea |
|
Tel |
+82-41-956-0415 |
|
Fax |
+82-41-956-0942 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Composite Fertilizers |
|
Main Business |
Fused Magnesium Phosphate, NPK Compound Fertilizer, Silicate
Fertilizer |
|
Established (mm/dd/yyyy) |
12/22/1962 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Organic fertilizers and plant
nutrients(10171500) |
|
Sell |
Chemical fertilizers and plant nutrients(10171600) |
|
Sell |
Compost(10171504) |
|
Sell |
Nitrogen Phosphorous Potassium Mixtures
NPK(10171605) |
|
Sell |
Fill dirt(11111502) |
|
Buy |
Potassic fertilizer(10171602) |
CEO’s
|
Name |
Lee Jong-Cheol |
|
Address |
41, Seongbuk-dong,
Seongbuk-gu, Seoul, Korea |
|
Date of Birth |
02/02/1958 |
|
Title |
Co-President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
6,200,000,000 |
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Employees |
230 |
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Formation |
Co., Ltd by Shares |
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Bank Details |
Industrial Bank of Korea Korea Exchange Bank |
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Corporate Registered No. |
110111-0005789 |
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Business Registered No. |
105-81-03956 |
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Permit & Licenses |
Int’l Trade No.: 720720 |
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Shareholder Position |
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Company History |
12/22/1962 Incorporated as the present name 08/31/1996 Spin off the par value to 5,000
KRW from 10,000 KRW 05/27/1996 Increased the authorized shares
to 2,000,000 shares from 1,000,000 shares 11/04/1996 Increased capital to
6,200,000,000 KRW from 5,350,000,000 KRW |
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Detailed Information
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Co-President & CEO |
Mr. |
Lee Jong-Cheol |
Male |
Korean |
03/31/2011 |
|
Co-President & CEO |
Mr. |
Song Sang-Jae |
Male |
Korean |
03/31/2011 |
|
Director |
M/S.. |
Oh Jung-Mi |
Female |
Korean |
03/31/2011 |
|
Auditor |
Mr. |
Kim Joon-Soo |
Male |
Korean |
03/31/2011 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
152,592,694,740 |
238,462,220,173 |
5,582,996,964 |
|
|
2009 |
180,736,697,562 |
169,143,467,481 |
18,111,724,955 |
|
2008 |
164,786,096,083 |
190,377,905,997 |
-30,963,176,015 |
|
2007 |
127,943,436,328 |
152,223,670,753 |
1,373,249,320 |
|
2006 |
99,141,086,614 |
132,857,326,867 |
2,658,983,199 |
Financial
Description
|
Authorized Capital(KRW) |
10,000,000,000 |
|
Paid-Up Capital(KRW) |
6,200,000,000 |
|
Total Issued Shares |
1,240,000 |
Balance
Sheet
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
238,462,220,173 |
169,143,467,481 |
190,377,905,997 |
|
Current Assets |
91,068,688,215 |
106,858,245,165 |
127,351,077,113 |
|
-Quick Assets |
32,527,957,864 |
31,402,993,334 |
38,284,155,821 |
|
-Inventories |
58,540,730,351 |
75,455,251,831 |
89,066,921,292 |
|
Fixed Assets |
147,393,531,958 |
62,285,222,316 |
63,026,828,884 |
|
-Investment |
12,164,773,215 |
12,152,195,183 |
11,496,341,846 |
|
-Tangibles |
134,868,925,052 |
49,780,525,574 |
50,945,472,021 |
|
-Intangibles |
- |
125,686 |
330,486 |
|
-Others |
359,833,691 |
352,375,873 |
584,684,531 |
|
Total Liabilities |
77,857,247,462 |
81,040,263,323 |
120,452,794,014 |
|
Current Liabilities |
56,858,118,503 |
76,933,857,996 |
114,965,944,500 |
|
Fixed Liabilities |
20,999,128,959 |
4,106,405,327 |
5,486,849,514 |
|
Capital Stock |
6,200,000,000 |
6,200,000,000 |
6,200,000,000 |
|
Capital Surplus |
31,915,650,677 |
31,915,650,677 |
31,915,650,677 |
|
Profit Surplus |
53,668,326,341 |
48,085,329,377 |
29,973,604,422 |
|
Capital Adjustment |
68,820,995,693 |
1,902,224,104 |
1,835,856,884 |
|
Total Equity |
160,604,972,711 |
88,103,204,158 |
69,925,111,983 |
|
Liab. & Shareholder’s Equity |
238,462,220,173 |
169,143,467,481 |
190,377,905,997 |
|
Current Liabilities |
56,858,118,503 |
76,933,857,996 |
114,965,944,500 |
|
Trade Payables |
6,547,472,806 |
7,365,486,757 |
17,429,660,541 |
|
Short-Term
Borrowings |
41,191,659,232 |
61,598,300,498 |
86,871,504,966 |
|
Account Payables |
4,548,125,252 |
4,531,529,453 |
5,561,551,830 |
|
Advance Receipts |
2,830,010,956 |
1,179,808,881 |
2,041,005,691 |
|
Withholdings |
116,916,510 |
101,485,490 |
114,088,770 |
|
Accrued Expenses |
827,733,747 |
865,646,917 |
1,494,452,293 |
|
Current Portion
of Long-Term Debts |
796,200,000 |
1,291,600,000 |
1,404,300,000 |
|
Deferred Income
Tax |
- |
- |
49,380,409 |
|
Fixed Liabilities |
20,999,128,959 |
4,106,405,327 |
5,486,849,514 |
|
Long-Term
Borrowings |
986,500,000 |
2,668,700,000 |
3,960,300,000 |
|
Provision for
Severance & Retirement |
3,114,493,190 |
3,838,464,980 |
4,609,817,990 |
|
Leasehold
Deposit Received |
212,800,000 |
212,800,000 |
165,800,000 |
|
Guarantee
Deposit Withhold |
195,000,000 |
195,000,000 |
235,000,000 |
|
Deferred Income
Tax Credit |
19,270,344,600 |
158,488,604 |
- |
Income
Statement
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
152,592,694,740 |
180,736,697,562 |
164,786,096,083 |
|
Cost of Sold Goods |
116,112,881,364 |
129,725,370,873 |
153,331,850,867 |
|
Gross Profit |
36,479,813,376 |
51,011,326,689 |
11,454,245,216 |
|
Selling & Admin. Expenses |
27,983,248,013 |
29,148,404,900 |
33,489,144,614 |
|
Operating Income |
8,496,565,363 |
21,862,921,789 |
-22,034,899,398 |
|
Non-Operating Income |
2,986,019,758 |
8,972,071,892 |
5,942,000,510 |
|
Non-Operating Expenses |
4,278,581,901 |
12,671,539,951 |
17,765,553,745 |
|
Income Before Taxes |
7,204,003,220 |
18,163,453,730 |
-33,858,452,633 |
|
Income Taxes Expenses |
1,621,006,256 |
51,728,775 |
-2,895,276,618 |
|
Net Income |
5,582,996,964 |
18,111,724,955 |
-30,963,176,015 |
Cash
Flows
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows from Operating |
24,832,602,519 |
26,816,339,109 |
-70,964,540,634 |
|
-Net Income |
5,582,996,964 |
18,111,724,955 |
-30,963,176,015 |
|
-Exp. without Cash Outflow |
2,644,413,562 |
2,959,914,130 |
5,218,795,029 |
|
-Revenue without Cash Inflows |
-1,589,551,891 |
-1,686,282,796 |
-4,886,984,355 |
|
-Changes in Asset/ & Liability |
18,194,743,884 |
7,430,982,820 |
-40,333,175,293 |
|
Cash Flows from Investing |
557,515,462 |
481,286,707 |
17,370,394 |
|
-Cash Inflow from Investing |
2,450,463,539 |
1,425,079,491 |
1,389,175,796 |
|
-Cash Outflows for Investing |
-1,892,948,077 |
-943,792,784 |
-1,371,805,402 |
|
Cash Flows from Financing |
-22,373,080,092 |
-26,696,943,199 |
62,322,661,872 |
|
-Cash Inflows from Financing |
116,031,274,460 |
291,845,802,234 |
63,774,361,872 |
|
-Cash Outflows from Financing |
-138,404,354,552 |
-318,542,745,433 |
-1,451,700,000 |
|
Increase/Decrease in Cash |
3,017,037,889 |
600,682,617 |
-8,624,508,368 |
|
Cash at the Beginning of Year |
1,461,191,080 |
860,508,463 |
9,485,016,831 |
|
Cash at the End of Year |
4,478,228,969 |
1,461,191,080 |
860,508,463 |
Products, Technologies, Services Description
|
Main Products & Services |
Fused Magnesium Phosphate, NPK Compound Fertilizer, Silicate
Fertilizer |
Trade Partners & Competitors
|
Competitors |
SEOUL BIO CO., LTD. 946-2, MUNCHON-RI, GAMGOK-MYEON,
EUMSEONG-GUN, CHUNGCHEONGBUK-DO, KOREA TEL:+82-43-881-3700 FAX:+82-43-881-0023 DAEYU CO., LTD. 157, BUJEOK 1-RI, AMNYANG-MYEON,
GYEONGSAN-SI, GYEONGSANGBUK-DO, KOREA TEL:+82-53-817-3012 FAX:+82-53-817-1577 MEE KWANG CO., LTD. 150-6, BANJEONG-RI, BUGAN-MYEON,
YEONGCHEON-SI, GYEONGSANGBUK-DO, KOREA TEL:+82-54-331-8842 FAX:+82-54-331-4955 |
Related Parties (Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
GUN YOUNG FARM CO., LTD.(110111-0068282) (40.4% held by the subject company) |
|
Cooperative Enterprise |
-Insured Company LIG INSURANCE CO., LTD.(110111-0017859) |
Sales by Region (Activity &
Markets)
|
Sales/ Unit :Mil KRW |
2010 |
2009 |
2008 |
|
Export |
|
|
|
|
Domestic |
|
|
|
|
Total |
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|
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The Subject deals
with the companies in China and Japan.
Court Action
No.
News Clipping
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.64 |
|
|
1 |
Rs.78.35 |
|
Euro |
1 |
Rs.65.79 |
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.