MIRA INFORM REPORT
|
Report Date : |
18.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
SSANGYONG PAPER CO., LTD. |
|
|
|
|
Registered Office : |
188, Cheonghak-dong, Osan-si, Gyeonggi-do,
Korea 447-130 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
30.06.2011 |
|
|
|
|
Date of Incorporation : |
07.07.1967 |
|
|
|
|
Com. Reg. No.: |
116-81-36971 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Manufacture of Kraft Paper and Paperboard |
|
|
|
|
No. of Employees : |
147 |
RATING & COMMENTS
|
MIRAs Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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 |
|
Company
Name |
SSANGYONG PAPER CO., LTD. (Korean company Name : 쌍용제지(주)) |
|
Registered Address |
188, Cheonghak-dong, Osan-si, Gyeonggi-do,
Korea |
|
Zip Code |
447-130 |
|
Tel |
+82-31-370-4600 |
|
Fax |
+82-31-370-4790 |
|
E-mail |
roger.redifer@sypaper.co.kr;ham.sh@sypaper.co.kr |
|
Website |
www.sypaper.co.kr |
|
Trading Address |
25FL., Gangnam Finance Center, 737,
Yeoksam 1-dong, Gangnam-gu, Seoul, Korea (C. P.O.BOX 3291) |
|
Tel |
+82-2-2112-3720 |
|
Fax |
+82-2-2112-3730 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Kraft Paper and Paperboard |
|
Main Business |
Kraft Paper |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
07/07/1967 |
The Subject owns
the premises of registered HQ address.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Paper towels(14111703) |
|
Sell |
Toilet tissue(14111704) |
|
Sell |
Facial tissues(14111701) |
|
Sell |
Kraft paper(60121124) |
|
Name |
Lee Jae-Yong |
|
Address |
Suite 7-1306, 241-21, Seobinggo-dong,
Yongsan-gu, Seoul, Korea |
|
Date of Birth |
11/07/1964 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
15,000,000,000 |
|||||||||||||||
|
Employees |
147 |
|||||||||||||||
|
Formation |
Co., Ltd by shares |
|||||||||||||||
|
Bank Details |
Shinhan Bank-Securities Twon Branch Hana Bank |
|||||||||||||||
|
Corporate Registered No. |
110111-0080103 |
|||||||||||||||
|
Business Registered No. |
116-81-36971 |
|||||||||||||||
|
Permit & Licenses |
Intl Trade No.: 546430 |
|||||||||||||||
|
Shareholder Position |
|
|||||||||||||||
|
Company History |
07/07/1967 Incorporated as Samhwa Paper
Co., Ltd. 12/1975 Changed company name to the present
name 12/1991 Listed at Korea Stock Exchange 10/25/1997 Ssangyong Group sold its holding
shares to Procter & Gamble GmbH(P&G) 1998 Separated from Ssyangyong Group 06/16/1999 Unlisted from Korea Stock
Exchange 05/26/2006 P&G sold its holding shares
to SB KRAFT CO., LTD.(110111-3440320) 05/26/2006 Moved to the present HQ address from 448-2, Dogok 2-dong,
Gangnam-gu, Seoul, Korea 07/21/2006 The Subject acquired SB KRAFT
CO., LTD.(110111-3440320) 08/26/2006 Decreased par value to 5,000 KRW from 11,500,000 KRW 09/24/2006 Decreased capital to 69,000,000 KRW from 32,947,500,000 KRW 09/26/2006 Increased capital to 15,000,000,000 KRW from 69,000,000 KRW |
|||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lee Jae-Yong |
Male |
Korean |
05/26/2006 |
|
Director |
Mr. |
Kim Jang-Hwan |
Male |
Korean |
05/26/2006 |
|
Director |
Mr. |
Jung Min-Cheol |
Male |
Korean |
05/26/2009 |
|
Auditor |
Mr. |
Kang Jung-Soo |
Male |
Korean |
05/26/2009 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
81,848,093,887 |
193,063,568,339 |
-1,225,391,136 |
|
|
06/2010 |
78,698,842,909 |
190,865,338,045 |
5,222,469,673 |
|
06/2009 |
71,578,016,739 |
178,030,348,402 |
-4,868,576,376 |
|
06/2008 |
64,944,211,659 |
75,710,874,463 |
-1,478,455,645 |
|
06/2007 |
58,971,437,106 |
74,946,170,279 |
1,729,143,384 |
|
06/2006 |
66,448,621,070 |
95,442,361,817 |
4,592,254,009 |
|
06/2005 |
151,940,495,586 |
306,011,126,348 |
9,495,857,478 |
|
Authorized Capital(KRW) |
150,000,000,000 |
|
Paid-Up Capital(KRW) |
15,000,000,000 |
|
Total Issued Shares |
3,000,000 |
|
Unit : Korean Won |
As of 06/30/2011 |
As of 06/30/2010 |
As of 06/30/2009 |
|
Total Assets |
193,063,568,339 |
190,865,338,045 |
178,030,348,402 |
|
Current Assets |
45,723,126,383 |
45,861,767,279 |
34,475,727,646 |
|
-Quick Assets |
23,476,709,899 |
21,118,114,725 |
26,310,191,104 |
|
-Inventories |
22,246,416,484 |
24,743,652,554 |
8,165,536,542 |
|
Fixed Assets |
147,340,441,956 |
145,003,570,766 |
143,554,620,756 |
|
-Investment |
143,667,600 |
489,401,100 |
1,500,006,900 |
|
-Tangibles |
146,425,735,114 |
143,751,965,614 |
141,330,995,754 |
|
-Intangibles |
771,039,242 |
762,204,052 |
723,618,102 |
|
Total Liabilities |
95,515,132,333 |
92,091,510,903 |
84,478,990,933 |
|
Current Liabilities |
38,582,191,325 |
38,255,174,336 |
62,317,701,598 |
|
Fixed Liabilities |
56,932,941,008 |
53,836,336,567 |
22,161,289,335 |
|
Capital Stock |
15,000,000,000 |
15,000,000,000 |
15,000,000,000 |
|
Capital Surplus |
189,990,905,010 |
189,990,905,010 |
189,990,905,010 |
|
Profit Surplus |
-2,550,993,052 |
-1,325,601,916 |
-4,868,576,376 |
|
Capital Adjustment |
-104,891,475,952 |
-104,891,475,952 |
-106,570,971,165 |
|
Total Equity |
97,548,436,006 |
98,773,827,142 |
93,551,357,469 |
|
Liab. & Shareholders Equity |
193,063,568,339 |
190,865,338,045 |
178,030,348,402 |
|
Current Liabilities |
38,582,191,325 |
38,255,174,336 |
62,317,701,598 |
|
Trade Payables |
23,355,927,977 |
23,741,392,153 |
14,978,359,139 |
|
Account Payables |
170,489,949 |
252,170,818 |
171,922,118 |
|
Accrued Expenses |
705,384,671 |
624,362,075 |
499,850,488 |
|
Advance Receipts |
34,382,663 |
26,977,716 |
31,188,553 |
|
Withholdings |
34,006,065 |
44,078,614 |
70,864,022 |
|
VAT Withhold |
|
|
404,713,955 |
|
Derivatives |
- |
66,192,960 |
96,808,596 |
|
Short-Term Borrowings |
5,000,000,000 |
5,000,000,000 |
- |
|
Current Portion of Long-Term Debts |
9,282,000,000 |
8,500,000,000 |
46,063,994,727 |
|
Fixed Liabilities |
56,932,941,008 |
53,836,336,567 |
22,161,289,335 |
|
Long-Term Borrowings |
5,117,000,000 |
2,506,600,000 |
300,000,000 |
|
Debentures |
32,056,560,000 |
32,749,440,000 |
- |
|
Long-Term Account Payables |
- |
67,320,000 |
67,320,000 |
|
Provision for Severance & Retirement |
42,824,353 |
60,242,493 |
1,389,172,412 |
|
Leasehold Deposit Received |
40,500,000 |
10,500,000 |
10,500,000 |
|
Non-Current Portion of Deferred Income Tax Credit |
19,697,149,754 |
18,463,215,144 |
20,931,437,091 |
|
Unit : Korean Won |
As of 06/30/2011 |
As of 06/30/2010 |
As of 06/30/2009 |
|
Sales |
81,848,093,887 |
78,698,842,909 |
71,578,016,739 |
|
Cost of Sold Goods |
75,911,977,438 |
66,235,470,429 |
64,864,040,962 |
|
Gross Profit |
5,936,116,449 |
12,463,372,480 |
6,713,975,777 |
|
Selling & Admin. Expenses |
5,451,381,838 |
6,468,426,014 |
4,355,562,906 |
|
Operating Income |
484,734,611 |
5,994,946,466 |
2,358,412,871 |
|
Non-Operating Income |
2,563,942,892 |
7,327,960,234 |
3,444,775,620 |
|
Non-Operating Expenses |
2,760,518,954 |
7,375,500,801 |
13,135,704,103 |
|
Income Before Taxes |
288,158,549 |
5,947,405,899 |
-7,332,515,612 |
|
Income Taxes Expenses |
1,513,549,685 |
724,936,226 |
-2,463,939,236 |
|
Net Income |
-1,225,391,136 |
5,222,469,673 |
-4,868,576,376 |
|
Unit : Korean Won |
As of 06/30/2011 |
As of 06/30/2010 |
As of 06/30/2009 |
|
Cash Flows from Operating |
5,016,121,080 |
1,469,245,367 |
2,546,456,998 |
|
-Net Income |
-1,225,391,136 |
5,222,469,673 |
-4,868,576,376 |
|
-Exp. without Cash Outflow |
1,416,877,412 |
5,581,735,457 |
10,266,970,624 |
|
-Revenue without Cash Inflows |
-1,351,305,148 |
-419,493,977 |
(1,107,119,548) |
|
-Changes in Asset/ & Liability |
6,175,939,952 |
-8,915,465,786 |
-1,744,817,702 |
|
Cash Flows from Investing |
-2,640,762,199 |
-3,433,397,330 |
2,560,191,926 |
|
-Cash Inflow from Investing |
1,440,762,800 |
1,410,295,400 |
4,728,009,936 |
|
-Cash Outflows for Investing |
-4,081,524,999 |
-4,843,692,730 |
-2,167,818,010 |
|
Cash Flows from Financing |
3,392,400,000 |
-902,434,727 |
-1,200,000,000 |
|
-Cash Inflows from Financing |
3,392,400,000 |
36,661,560,000 |
300,000,000 |
|
-Cash Outflows from Financing |
- |
-37,563,994,727 |
-1,500,000,000 |
|
Increase/Decrease in Cash |
5,767,758,881 |
-2,866,586,690 |
3,906,648,924 |
|
Cash at the Beginning of Year |
2,997,000,474 |
5,863,587,164 |
1,956,938,240 |
|
Cash at the End of Year |
8,764,759,355 |
2,997,000,474 |
5,863,587,164 |
|
Main Products & Services |
Kraft Paper |
|
Suppliers |
D.K. KOREA, LTD.(120111-0062240) |
|
Customers |
|
|
Competitors |
DAEHAN PULP CO., LTD. 8TH FL., SINJOYANG BLDG., 49-17, CHUNGMURO
2-GA, JUNG-GU, SEOUL, KOREA TEL:+82-2-2270-9200 FAX:+82-2-2275-7679 ASIA PAPER MFG. CO., LTD. 9TH FL., ASEA TOWER BLDG., 726, YEOKSAM
2-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-538-4416 FAX:+82-2-527-6859 WOLSAN CO., LTD. 492-1, MONGNAE-DONG, DANWON-GU, ANSAN-SI,
GYEONGGI-DO, KOREA TEL:+82-31-491-0010 FAX:+82-31-491-0023 |
(Subsidiaries,
Joint-Venture & Affiliates)
|
Cooperative Enterprise |
-Insured Company HANWHA GENERAL INSURANCE CO., LTD.(110111-0006456) |
(Activity &
Markets)
Not Available.
No.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.21 |
|
|
1 |
Rs.77.75 |
|
Euro |
1 |
Rs.64.58 |
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 SCs 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.