MIRA INFORM REPORT
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Report Date : |
02.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
SAMSUNG POLYMER CO., LTD. |
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Registered Office : |
684-6, Seonggok-dong, Danwon-gu, Ansan-si, Gyeonggi-do, Korea, 5Ba-507, Sihwa Industrial Complex, Zip Code 425-836 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
23.08.1989 |
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Com. Reg. No.: |
134-81-23533 |
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Legal Form : |
Co., Ltd by shares |
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Line of Business : |
Manufacture of Synthetic Resin and Other Plastic Materials |
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No. of Employees
: |
44 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
South Korea |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
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Off-credit |
D |
Basic
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Company
Name |
SAMSUNG POLYMER
CO., LTD. (Korean Company Name : “삼성포리머(주)”) |
|
Registered Address |
684-6, Seonggok-dong, Danwon-gu, Ansan-si,
Gyeonggi-do, Korea |
|
Building |
5Ba-507, Sihwa Industrial Complex |
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Zip Code |
425-836 |
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Tel |
+82-31-499-8011~6 |
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Fax |
+82-31-499-8017 |
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E-mail |
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Website |
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Trading Address |
5Ba-507, Sihwa Industrial Complex, 684-6,
Seonggok-dong, Danwon-gu, Ansan-si, Gyeonggi-do, Korea |
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Tel |
+82-31-499-8011~6 |
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Fax |
+82-31-499-8017 |
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Other Address-Busan office |
4141, DaeJeo
1-dong, Gangseo-gu, Busan, Korea |
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Tel |
+82-51-973-3616 |
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Fax |
+82-51-973-3618 |
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Other Address-Factory & R&D Center |
684-6, Sunggok-dong, Ansan-si,
Gyeonggi-do, Korea |
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Tel |
+82-31-499-8011 |
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Fax |
+82-31-499-8017 |
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Type |
Export/Import |
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Industry |
Manufacture of Synthetic Resin and Other Plastic Materials |
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Main Business |
Shoe Sole Material, Waterproof Flooring, Urethane Adhesive |
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Established (mm/dd/yyyy) |
08/23/1989 |
The Subject owns
the premises of registered HQ address.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Polyurethane resins(13111061) |
CEO’s
|
Name |
Kim Pyung-Kee |
|
Address |
Suite 211-902, 89, Bangi-dong,
Songpa-gu, Seoul, Korea |
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Date of Birth |
10/29/1943 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
|
Capital (KRW) |
1,300,000,000 |
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Employees |
44 |
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Formation |
Co., Ltd by shares |
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Bank Details |
Citibank, Korea-Ansan Branch Industrial Bank of Korea Shinhan Bank |
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Corporate Registered No. |
110111-0644826 |
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Business Registered No. |
134-81-23533 |
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Permit & Licenses |
07/1994 KS Mark 05/1997 UL Mark 12/1997 NT Mark 12/2002 ISO 9001 Int’l Trade No.: 590259 |
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Shareholder Position |
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Company History |
08/23/1989 Incorporated as the present name 12/12/2000 Designated as a Venture Business 12/2002 Designated as a Venture Business
again 12/22/2006 Designated as a Venture Business
again |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Kim Pyung-Kee |
Male |
Korean |
11/22/2000 |
|
Director |
Mr. |
Lee Jin-Ko |
Male |
Korean |
06/10/2002 |
|
Director |
Mr. |
Park Jong-Taik |
Male |
Korean |
03/31/2010 |
|
Auditor |
Mr. |
Kim Jong-Hak |
Male |
Korean |
03/31/2010 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
39,320,277,589 |
18,345,140,137 |
1,241,436,832 |
|
|
2009 |
33,039,089,623 |
20,682,120,627 |
741,863,067 |
|
2008 |
32,435,073,904 |
21,765,917,694 |
-818,334,089 |
|
2007 |
30,221,915,312 |
17,101,987,984 |
9,174,953 |
|
2006 |
27,965,106,933 |
15,630,640,319 |
155,748,496 |
|
2005 |
27,267,280,921 |
14,744,222,081 |
118,446,635 |
|
2004 |
27,917,533,286 |
14,455,098,007 |
-1,323,706,235 |
Financial Description
|
Authorized Capital(KRW) |
2,000,000,000 |
|
Paid-Up Capital(KRW) |
1,300,000,000 |
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Total Issued Shares |
260,000 |
Balance Sheet
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
18,345,140,137 |
20,682,120,627 |
21,765,917,694 |
|
Current Assets |
7,991,994,441 |
9,887,776,523 |
10,828,685,941 |
|
-Quick Assets |
5,300,246,168 |
5,032,480,224 |
8,019,101,066 |
|
-Inventories |
2,691,748,273 |
4,855,296,299 |
2,809,584,875 |
|
Fixed Assets |
10,353,145,696 |
10,794,344,104 |
10,937,231,753 |
|
-Investment |
4,329,094,820 |
4,707,944,420 |
4,731,178,303 |
|
-Tangibles |
5,595,583,260 |
5,649,132,068 |
5,586,357,150 |
|
-Intangibles |
428,467,616 |
437,267,616 |
619,696,300 |
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Total Liabilities |
8,951,834,165 |
12,530,251,487 |
14,355,911,621 |
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Current Liabilities |
6,894,227,343 |
10,999,502,398 |
12,807,138,284 |
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Fixed Liabilities |
2,057,606,822 |
1,530,749,089 |
1,548,773,337 |
|
Capital Stock |
1,300,000,000 |
1,300,000,000 |
1,300,000,000 |
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Capital Surplus |
|
|
|
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Profit Surplus |
4,238,768,856 |
2,997,332,024 |
2,255,468,957 |
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Capital Adjustment |
3,854,537,116 |
3,854,537,116 |
3,854,537,116 |
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Total Equity |
9,393,305,972 |
8,151,869,140 |
7,410,006,073 |
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Liab. & Shareholder’s Equity |
18,345,140,137 |
20,682,120,627 |
21,765,917,694 |
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Current
Liabilities |
6,894,227,343 |
10,999,502,398 |
12,807,138,284 |
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Trade Payables |
1,088,937,968 |
422,420,062 |
789,406,881 |
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Short-Term Borrowings |
4,496,831,940 |
9,508,943,126 |
11,441,092,310 |
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Account Payables |
386,565,123 |
226,852,916 |
386,564,421 |
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Advance Receipts |
51,687,482 |
323,732,560 |
6,486,667 |
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Withholdings |
58,503,860 |
15,023,490 |
15,174,680 |
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Accrued Expenses |
332,030,997 |
54,051,550 |
61,669,823 |
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Current Portion of Long-Term Debts |
109,060,550 |
35,877,260 |
- |
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Unearned Income |
609,423 |
42,601,434 |
6,743,502 |
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Current
Portion of Long-Term Debts |
370,000,000 |
370,000,000 |
- |
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Withholdings |
|
|
100,000,000 |
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Fixed
Liabilities |
2,057,606,822 |
1,530,749,089 |
1,548,773,337 |
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Long-Term Borrowings |
500,000,000 |
370,000,000 |
740,000,000 |
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Leasehold Deposit Received |
37,200,000 |
37,200,000 |
65,690,000 |
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Provision for Severance & Retirement |
145,000,000 |
25,000,000 |
248,000,000 |
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Long-Term Account Payables |
1,615,066,090 |
1,220,207,160 |
628,615,431 |
Income Statement
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
39,320,277,589 |
33,039,089,623 |
32,435,073,904 |
|
Cost of Sold Goods |
34,468,515,280 |
27,016,269,748 |
27,592,753,438 |
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Gross Profit |
4,851,762,309 |
6,022,819,875 |
4,842,320,466 |
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Selling & Admin. Expenses |
3,455,169,410 |
4,375,548,252 |
4,050,688,378 |
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Operating Income |
1,396,592,899 |
1,647,271,623 |
791,632,088 |
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Non-Operating Income |
1,222,254,919 |
873,004,916 |
1,912,871,122 |
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Non-Operating Expenses |
1,247,809,226 |
1,733,011,672 |
3,511,332,959 |
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Income Before Taxes |
1,371,038,592 |
787,264,867 |
-806,829,749 |
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Income Taxes Expenses |
129,601,760 |
45,401,800 |
11,504,340 |
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Net Income |
1,241,436,832 |
741,863,067 |
-818,334,089 |
Cash Flows
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows from Operating |
4,673,560,397 |
1,441,824,652 |
-690,369,867 |
|
-Net Income |
1,241,436,832 |
741,863,067 |
-818,334,089 |
|
-Exp. without Cash Outflow |
719,060,620 |
2,187,375,618 |
2,019,893,168 |
|
-Revenue
without Cash Inflows |
-295,457,625 |
-35,572,438 |
-789,998,039 |
|
-Changes in
Asset/ & Liability |
3,008,520,570 |
-1,451,841,595 |
-1,101,930,907 |
|
Cash Flows
from Investing |
211,996,409 |
-107,501,630 |
-803,034,584 |
|
-Cash Inflow
from Investing |
1,815,609,044 |
2,452,851,434 |
375,643,964 |
|
-Cash
Outflows for Investing |
-1,603,612,635 |
-2,560,353,064 |
-1,178,678,548 |
|
Cash Flows
from Financing |
-4,910,817,666 |
-1,932,149,184 |
1,865,257,149 |
|
-Cash
Inflows from Financing |
500,000,000 |
- |
2,398,697,149 |
|
-Cash
Outflows from Financing |
-5,410,817,666 |
-1,932,149,184 |
-533,440,000 |
|
Increase/Decrease
in Cash |
-25,260,860 |
-597,826,162 |
371,852,698 |
|
Cash at the
Beginning of Year |
49,096,440 |
646,922,602 |
275,069,904 |
|
Cash at the End of Year |
23,835,580 |
49,096,440 |
646,922,602 |
Products, Technologies, Services Description
|
Main Products & Services |
Shoe Sole Material, Waterproof Flooring, Urethane Adhesive |
Trade Partners & Competitors
|
Suppliers |
KUMHO MITSUI CHEMICALS, INC.(110111-0612980) |
|
Competitors |
JINDO CHEMICAL CO., LTD. 1MA-210, SIHWA INDUSTRIAL COMPLEX, 1352,
JEONGWANG-DONG, SIHEUNG-SI, GYEONGGI-DO, KOREA TEL:+82-31-499-9933 FAX:+82-31-499-9937 SAMIL PAINT INDUSTRY CO., LTD. 12B-1L, NAMDONG INDUSTRIAL COMPLEX, 622,
NAMCHON-DONG, NAMDONG-GU, INCHEON, KOREA TEL:+82-32-814-3131 FAX:+82-32-812-4241 D SHINE CO., LTD. 802-202, SINWONDANG 8-DANJI APT., 726,
SEONGSA 2-DONG, DEOKYANG-GU, GOYANG-SI, GYEONGGI-DO, KOREA TEL:+82-70-7096-3682 FAX:+82-31-901-2687 |
Related Parties
(Subsidiaries, Joint-Venture
& Affiliates)
|
Affiliates |
SAMSUNG POLYMER CONSTRUCTION CO., LTD.(135011-0067162) |
|
Subsidiary |
SAMSUNG POLYMER (VIETNAM) CO., LTD. (100.0% held by the subject company) |
|
Cooperative Enterprise |
-Insured Company LIG INSURANCE CO., LTD.(110111-0017859) |
Sales by Region
(Activity &
Markets)
The Subject exports
to Japan, China, Vietnam, Philippines, Thailand, Indonesia, Iran, Syria, Arab
emirates, Australia and Mexico.
Court Action
No.
News Clipping
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.27 |
|
UK Pound |
1 |
Rs.82.09 |
|
Euro |
1 |
Rs.68.90 |
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 |
|
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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.