MIRA INFORM REPORT
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Report Date : |
07.01.2012 |
IDENTIFICATION DETAILS
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Name : |
STACO CO., LTD. |
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Formerly Known As : |
ShinSung Eng.
& Archi.Co., Ltd. |
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Registered Office : |
1589-3, Songjeong-dong, Gangseo-gu, Busan, Korea, Noksan Industrial Complex, Zip Code 618-818 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
16.01.1992 |
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Com. Reg. No.: |
603-81-18652 |
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Legal Form : |
Co., Ltd by shares |
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Line of Business : |
Manufacture of Sections for Ships |
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No. of Employees
: |
334 |
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RATING & COMMENTS
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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 |
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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) |
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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 |
STACO CO., LTD. (Korean Company Name : “스타코(주)”) |
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Registered Address |
1589-3, Songjeong-dong, Gangseo-gu, Busan, Korea |
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Building |
Noksan Industrial Complex |
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Zip Code |
618-818 |
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Tel |
+82-51-831-7000 |
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Fax |
+82-51-831-7007 |
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E-mail |
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Website |
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Trading Address |
Noksan Industrial
Complex, 1589-3, Songjeong-dong, Gangseo-gu, Busan, Korea |
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Tel |
+82-51-831-7000 |
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Fax |
+82-51-831-7007 |
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Other Address |
4FL., 683-10, Yeoksam-dong,
Gangnam-gu, Seoul, Korea |
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Tel |
+82-2-569-6898 |
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Fax |
+82-2-566-0403 |
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Other Address-Daebul Factory |
1697-12,
Nanjeon-Ri, Samho-Myeon, Yeongam-Gun, Jeonnam-Do 526-892 Korea |
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Tel |
+82-61-464-5331 |
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Type |
Export |
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Industry |
Manufacture of Sections for Ships |
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Main Business |
Ship Panel, Cabin Door |
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Established (mm/dd/yyyy) |
01/16/1992 |
The Subject Company
owns the premises of registered HQ address(15,957.3㎡).
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Interior design or decorating(72101901) |
|
Sell |
Marine craft systems and subassemblies(25111900) |
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Sell |
Graphic design(82140000) |
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Buy |
Marine craft systems and
subassemblies(25111900) |
|
Buy |
Sinks(30181504) |
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Buy |
Faucets(40141702) |
|
Buy |
Curtains(52131501) |
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Buy |
Doors(30171500) |
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Buy |
Beds(56101515) |
|
Buy |
Panels or panelling(30161505) |
|
Buy |
Steel plate(30102204) |
|
Buy |
Bathtubs(30181501) |
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Buy |
Shower heads(40141703) |
CEO’s
|
Name |
Lee Dong-Hyung |
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Address |
180, Dangni-dong, Saha-gu, Busan, Korea |
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Date of Birth |
07/05/1946 |
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Title |
Co-President & CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
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Capital (KRW) |
5,800,000,000 |
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Employees |
334 |
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Formation |
Co., Ltd by shares Venture Business |
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Bank Details |
Industrial Bank of Korea- Noksan Central
Branch No. 1631-3, Songjeong-Dong, Gangseo-Gu,
Busan 618-270 Korea Tel: +82-51-832-0172 Korea Exchange Bank |
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Corporate Registered No. |
180111-0122183 |
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Business Registered No. |
603-81-18652 |
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Permit & Licenses |
04/1999 CE Mark Certificated. 11/1998 ISO 9001 Certificated Int’l Trade No.: 12002212 |
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Shareholder Position |
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Company History |
01/16/1992 Incorporated as ShinSung Eng.
& Archi.Co., Ltd. 11/1996 Wins $1 Mil. Export Tower Award. 11/1998 Acquisition of ISO 9001
Certificate 11/1998 Wins $5 Mil. Export Tower Award. 04/1999 Acquisition of C.E. Mark 11/2001 Wins $10 Mil. Export Tower Award 05/2003 Korean World-class Product Award 10/17/2003 Moved to the present HQ address
from 556, Sinpyeong-dong, Saha-gu, Busan, Korea 12/2003 Establishment of STACO R&D
Center 10/2004 Designated as a INNO-BIZ(Innovation
Business) Company 11/2004 Wins $20 Mil. Export Tower Award 05/18/2005 Changed name to STACO CO., LTD. 07/2005 Opened branch office in Shanghai,
China and Mumbai, India 02/2006 Established new factory in China
under name of STACO Zhangjiagang New tech Material Co., Ltd 11/2006 Wins $30 Mil. Export Tower Award 07/05/2007 Increased capital to
2,000,000,000 KRW from 1,500,000,000 KRW 03/18/2008 Increased the authorized shares
to 50,000,000 shares from 2,000,000 shares 11/03/2008 Spin off the par value to 500
KRW from 5,000 KRW 08/17/2009 Increased capital to
4,000,000,000 KRW from 3,000,000,000 KRW 04/30/2010 Increased capital to
5,000,000,000 KRW from 4,000,000,000 KRW 08/31/2010 Increased capital to
5,800,000,000 KRW from 5,000,000,000 KRW |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Co-President & CEO |
Mr. |
Lee Dong-Hyung |
Male |
Korean |
01/16/2001 |
|
Co-President & CEO |
Mr. |
Hong Soon-Kyun |
Male |
Korean |
03/28/2008 |
|
Director |
Mr. |
Moon Sang-Hoon |
Male |
Korean |
03/28/2008 |
|
Outside Director |
Mr. |
Chae Doo-Seok |
Male |
Korean |
10/29/2010 |
|
Auditor |
Mr. |
Kwon Oh-Kyung |
Male |
Korean |
03/30/2011 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
149,636,458,668 |
102,858,138,549 |
7,665,390,950 |
|
|
2009 |
146,131,255,770 |
81,001,876,891 |
11,838,761,494 |
|
2008 |
117,760,038,970 |
64,149,973,488 |
2,014,138,221 |
|
2007 |
86,697,399,849 |
39,449,791,480 |
841,995,936 |
|
2006 |
60,080,932,603 |
34,213,489,229 |
1,584,269,177 |
|
2005 |
47,128,042,826 |
22,778,843,658 |
1,299,179,811 |
|
2004 |
33,912,974,865 |
20,880,844,100 |
1,064,876,928 |
|
2003 |
29,281,817,779 |
17,477,115,909 |
619,334,592 |
Financial Description
|
Authorized Capital(KRW) |
25,000,000,000 |
|
Paid-Up Capital(KRW) |
5,800,000,000 |
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Total Issues Shares |
11,600,000(Common
: 10,000,000 / Preferable : 1,600,000) |
Balance
Sheet
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Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
102,858,138,549 |
81,001,876,891 |
64,149,973,488 |
|
Current Assets |
63,556,598,023 |
40,531,673,848 |
38,353,366,778 |
|
-Quick Assets |
55,138,326,889 |
34,803,999,212 |
33,454,224,068 |
|
-Inventories |
8,418,271,134 |
5,727,674,636 |
4,899,142,710 |
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Fixed Assets |
39,301,540,526 |
40,470,203,043 |
25,796,606,710 |
|
-Investment |
18,566,971,156 |
19,771,415,993 |
17,110,870,206 |
|
-Tangibles |
18,786,089,789 |
19,195,318,725 |
8,241,152,067 |
|
-Intangibles |
112,782,025 |
99,974,300 |
87,261,333 |
|
-Others |
1,835,697,556 |
1,403,494,025 |
357,323,104 |
|
Total Liabilities |
59,975,096,067 |
51,696,419,341 |
50,210,560,650 |
|
Current Liabilities |
42,058,509,337 |
41,084,764,735 |
42,031,598,162 |
|
Fixed Liabilities |
17,916,586,730 |
10,611,654,606 |
8,178,962,488 |
|
Capital Stock |
5,800,000,000 |
4,000,000,000 |
3,000,000,000 |
|
Capital Surplus |
7,315,907,397 |
331,907,397 |
- |
|
Profit Surplus |
18,865,009,616 |
14,199,618,666 |
7,009,843,639 |
|
Capital Adjustment |
10,902,125,469 |
10,773,931,487 |
3,929,569,199 |
|
Total Equity |
42,883,042,482 |
29,305,457,550 |
13,939,412,838 |
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Liab. & Shareholder’s Equity |
102,858,138,549 |
81,001,876,891 |
64,149,973,488 |
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Current Liabilities |
42,058,509,337 |
41,084,764,735 |
42,031,598,162 |
|
Trade
Payables |
16,903,926,126 |
12,162,795,932 |
9,569,726,681 |
|
Short-Term
Borrowings |
17,875,416,145 |
21,672,848,447 |
21,775,696,104 |
|
Account
Payables |
1,046,300,769 |
1,486,223,563 |
1,131,155,853 |
|
Advance
Receipts |
390,795,613 |
779,728,058 |
3,976,983,317 |
|
Withholdings |
75,805,510 |
73,395,980 |
86,885,310 |
|
Accrued
Expenses |
895,706,027 |
2,268,846,019 |
3,005,502,443 |
|
Accrued
Income Tax |
1,175,582,658 |
1,276,693,917 |
1,025,876,454 |
|
Current
Portion of Long-Term Debts |
3,324,645,000 |
1,302,806,000 |
1,459,772,000 |
|
Unearned
Income |
151,431,590 |
61,426,819 |
- |
|
Derivatives |
218,899,899 |
- |
- |
|
Fixed
Liabilities |
17,916,586,730 |
10,611,654,606 |
8,178,962,488 |
|
Debentures |
10,000,000,000 |
- |
- |
|
-Long-Term
Borrowings |
3,019,966,503 |
6,361,193,726 |
6,582,542,795 |
|
Leasehold
Deposit Received |
- |
- |
135,041,310 |
|
Provision
for Severance & Retirement |
2,700,704,600 |
2,337,995,760 |
1,547,410,900 |
|
Deferred
Income Tax Credit |
2,197,961,129 |
1,930,059,267 |
- |
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
149,636,458,668 |
146,131,255,770 |
117,760,038,970 |
|
Cost of Sold Goods |
125,086,304,807 |
113,712,280,612 |
90,405,200,268 |
|
Gross Profit |
24,550,153,861 |
32,418,975,158 |
27,354,838,702 |
|
Selling & Admin. Expenses |
12,540,357,802 |
13,198,549,304 |
11,870,239,933 |
|
Operating Income |
12,009,796,059 |
19,220,425,854 |
15,484,598,769 |
|
Non-Operating Income |
4,449,340,124 |
4,365,040,900 |
4,609,759,136 |
|
Non-Operating Expenses |
5,948,563,062 |
8,514,537,924 |
16,852,723,108 |
|
Ordinary Income |
10,510,573,121 |
15,070,928,830 |
3,241,634,797 |
|
Special Income |
- |
- |
- |
|
Income Before Taxes |
10,510,573,121 |
15,070,928,830 |
3,241,634,797 |
|
Income Taxes Expenses |
2,845,182,171 |
3,232,167,336 |
1,227,496,576 |
|
Net Income |
7,665,390,950 |
11,838,761,494 |
2,014,138,221 |
Cash
Flows
|
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows from Operating |
-7,669,586,364 |
15,358,862,091 |
6,269,377,230 |
|
-Net Income |
7,665,390,950 |
11,838,761,494 |
2,014,138,221 |
|
-Exp. without Cash Outflow |
4,693,062,697 |
6,175,534,529 |
6,702,919,631 |
|
-Revenue without Cash Inflows |
-2,666,217,337 |
-2,618,414,683 |
-183,417,875 |
|
-Changes in Asset/ & Liability |
-17,361,822,674 |
-37,019,249 |
-2,264,262,747 |
|
Cash Flows from Investing |
-176,790,554 |
-12,708,338,327 |
-7,426,289,315 |
|
-Cash Inflow from Investing |
4,100,896,542 |
2,867,535,756 |
5,028,752,035 |
|
-Cash Outflows for Investing |
-4,277,687,096 |
-15,575,874,083 |
-12,455,041,350 |
|
Cash Flows from Financing |
10,347,678,853 |
178,504,663 |
6,229,241,495 |
|
-Cash Inflows from Financing |
47,253,782,330 |
25,911,900,765 |
34,618,774,091 |
|
-Cash Outflows from Financing |
-36,906,103,477 |
-25,733,396,102 |
-28,389,532,596 |
|
Increase/Decrease in Cash |
2,501,301,935 |
2,829,028,427 |
5,072,329,410 |
|
Cash at the Beginning of Year |
9,131,578,707 |
6,302,550,280 |
1,230,220,870 |
|
Cash at the End of Year |
11,632,880,642 |
9,131,578,707 |
6,302,550,280 |
Products, Technologies, Services Description
|
Main Products & Services |
Ship Panel, Cabin Door Wall Panel Ceiling Panel Cabins Unit Toilet Cabin Door Interior Furnishing Marine Engineering Installation |
|
Detailed Products Spec. |
Cabin Door - 45 mm thick mineral wool core - Available in 0.4 and 0.6 mm steel plate. Galvanized steel also
available. - Face sheets are totally supported by rigid mineral wool for increased
impact resistance. - Superior insulating characteristics. |
Trade Partners & Competitors
|
Competitors |
SHINHAN MACHINERY CO., LTD. 117, UBONG-RI, ONSAN-EUP, ULJU-GUN, ULSAN,
KOREA TEL:+82-52-240-5000~1 FAX:+82-52-240-5041 SAMGONG CO., LTD. 5B-1L, NOKSAN INDUSTRIAL COMPLEX, 1464-2,
SONGJEONG-DONG, GANGSEO-GU, BUSAN, KOREA TEL:+82-51-200-3040 FAX:+82-51-200-3046 ILJIN MACHINERY CO., LTD. 725-2, HWANGSEONG-DONG, NAM-GU, ULSAN,
KOREA TEL:+82-52-259-8800 FAX:+82-52-257-5525 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
STA INTERIOR TECHNOLOGY CO.,
LTD(180111-0303519) RM. 901, BANDO BLDG. 36-14, JUNGANGDONG
4-GA, JUNG-GU, BUSAN 600-014 KOREA KARK F KOREA CO., LTD.( 110111-3896507) SMACO(KOREA) D&S KOREA CO., LTD.(KOREA) |
|
Overseas Office |
CHINA HEAD OFFICE (FACTORY) #1 CHENG DUN RD., GANGKOU STREET, FENGHUANG
TOWN, ZHANGJIAGANG CITY, JIANGSU PROVINCE, CHINA TEL :+ 82 512 56987000 FAX :+86 512 56987001 SHANGHAI BRANCH OFFICE RM.2707, #2077, YANAN RD. (WEST),
CHANGNING, DISTRICT, SHANGHAI, CHINA TEL :+86 21 6270387 62703872 FAX:+86 21 62703797 STACO INDIA BRANCH OFFICE C/612, LEGEND APT., SANTACRUZ (EAST),
MUMBAI, INDIA 400055 TEL/FAX :+ 91 22 2665 3899 MOBILE:+ 91 932 331 7008 |
|
Subsidiary |
STAPREVILLE CO., LTD.(110111-4164581) (66.7% held by the subject company) GREEN FILED CO., LTD.(KOREA) (59.6% held by the subject company) STACO NEW TECH MATERIAL (ZHANGJIAGANG) CO., LTD.(CHINA) (92.0% held by the subject company) CHENGDUN RD.1, CANGKOU ST, FENGHUANG TN,
JIANG JIAGANG CITY, JIANGSU PROVINCE, CHINA STACO NEW TECH MATERIAL (DALIAN) CO., LTD.(CHINA) (100.0% held by the subject company) |
|
Cooperative Enterprise |
LIVART FURNITURE CO., LTD. 54-10, BUK-RI, NAMSA-MYEON, CHEOIN-GU,
YONGIN-SI, GYEONGGI-DO 449-884 KOREA TEL:+82-31-331-7921 FAX:+82-31-332-7656 INDUSTRY: MANUFACTURE OF OTHER WOOD
FURNITURE SIGONG TECH CO., LTD. SIGONG BLDG., 107-7, SAMSEONG 1-DONG,
GANGNAM-GU, SEOUL 135-873 KOREA TEL:+82-2-3438-0077 FAX:+82-2-3438-0088 INDUSTRY: ARCHITECTURAL SERVICES NAGASAKI SENBAKU SOBI
(NSS)(WWW.NSSJPN.CO.JP) LOCATION: NAGASAKI, JAPAN (OEM CONTRACT IN JAPAN) B&B ITALIA SPA(WWW.BEBITALIA.IT) LOCATION: MILAN, ITALY S.A.SVENDSEN OY(WWW.SASVENDSEN.COM) KINIEMENTIE 3 B, FIN-00210 HELSINKI,
FINLAND TEL:+358 9 681 1170 FAX:+358 9 681 11 768 -Insured Company HEUNGKUK FIRE & MARINE INSURANCE CO., LTD.(110111-0016728) HANWHA NON-LIFE INSURANCE CO.,
LTD.(110111-0006456) |
Sales by Region
(Activity & Markets)
The Subject deals with the companies in Italy, Finland, USA, China and
Japan.
Court Action
No.
News Clipping
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.78 |
|
UK Pound |
1 |
Rs.81.79 |
|
Euro |
1 |
Rs.67.46 |
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.