MIRA INFORM REPORT
|
Report Date : |
14.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
KPIC CORPORATION |
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|
|
|
Registered Office : |
471, Gongdeok-dong, Mapo-gu, Seoul, Korea, 4FL.,
S-Oil Bldg., Zip code 121-805 |
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|
|
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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 : |
28.03.2005 |
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|
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Com. Reg. No.: |
104-81-93116 |
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|
|
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Legal Form : |
Co., Ltd by shares |
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|
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Line of Business : |
Wholesale of Other Chemical Materials and Chemical Products |
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No. of Employees
: |
33 |
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 |
|
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 30th, 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 |
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Restricted |
C2 |
|
Off-credit |
D |
Basic
|
Company
Name |
KPIC CORPORATION (Korean Company Name : “(주)케이피아이씨코포레이션”) |
|
Registered Address |
471, Gongdeok-dong,
Mapo-gu, Seoul, Korea |
|
Building |
4FL., S-Oil Bldg. |
|
Zip Code |
121-805 |
|
Tel |
+82-2-757-7121 |
|
Fax |
+82-2-757-6167~8 |
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E-mail |
|
|
Trading Address |
4FL., S-Oil Bldg., 471, Gongdeok-dong,
Mapo-gu, Seoul, Korea |
|
Tel |
+82-2-3706-0841 |
|
Fax |
+82-2-3706-0864 |
|
Type |
Export |
|
Industry |
Wholesale of Other Chemical Materials and Chemical Products |
|
Main Business |
Petrochemicals, Polypropylene Resin |
|
Sub
Business |
Freight Transport Brokerage, Agency and Other Supporting Transport
Services |
|
Established (mm/dd/yyyy) |
03/28/2005 |
The Subject Company
occupies the premises of registered HQ address by leasing base.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Transport arrangements(78141500) |
|
Sell |
International trade services(80151600) |
|
Sell |
Freight forwarders services(78141501) |
|
Sell |
Chemistry reagents or solutions(41116105) |
|
Sell |
Polyethylene(13111016) |
CEO’s
|
Name |
Han Sang-Ho |
|
Address |
Suite 103-205, 615, Irwon-dong,
Gangnam-gu, Seoul, Korea |
|
Date of Birth |
05/05/1952 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
295,590,000 |
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|
Employees |
33 |
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Formation |
Co., Ltd by shares A Company of KOREA PETRO CHEMICAL IND. |
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Bank Details |
Kookmin Bank-Taepyungro Branch Woori Bank Korea Exchange Bank |
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Corporate Registered No. |
110111-3196056 |
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Business Registered No. |
104-81-93116 |
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Permit & Licenses |
Int’l Trade No.: 45348169 |
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Shareholder Position |
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Company History |
03/28/2005 Incorporated as the present name 07/02/2010 Decreased capital to 295,590,000 KRW from 300,000,000 KRW 07/18/2011 Moved to the present HQ address
from Rm.
1226, Haenam Bldg., 21, Bukchang-dong, Jung-gu, Seoul, Korea |
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Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Han Sang-Ho |
Male |
Korean |
03/28/2005 |
|
Director |
Mr. |
Jang Seok-San |
Male |
Korean |
03/28/2005 |
|
Auditor |
M/S. |
Kim Mi-Hyun |
Female |
Korean |
03/28/2005 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
755,052,552,862 |
90,804,644,988 |
9,977,009,865 |
|
|
2009 |
779,171,990,911 |
53,459,189,570 |
6,960,056,898 |
|
2008 |
442,942,534,295 |
30,264,084,448 |
2,007,149,085 |
|
2007 |
90,468,443,880 |
26,389,479,623 |
920,146,637 |
|
2006 |
101,036,720,764 |
16,109,014,087 |
7,099,901,080 |
Financial Description
|
Authorized Capital(KRW) |
1,200,000,000 |
|
Paid-Up Capital(KRW) |
295,590,000 |
|
Total Issued Shares |
59,118 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
90,804,644,988 |
53,459,189,570 |
30,264,084,448 |
|
Current Assets |
31,610,065,989 |
33,577,982,173 |
22,943,192,153 |
|
-Quick Assets |
30,002,850,309 |
33,577,982,173 |
22,943,192,153 |
|
-Inventories |
1,607,215,680 |
- |
- |
|
Fixed Assets |
59,194,578,999 |
19,881,207,397 |
7,320,892,295 |
|
-Investment |
58,461,409,189 |
19,097,897,084 |
6,575,000,000 |
|
-Tangibles |
92,998,358 |
161,084,599 |
191,246,650 |
|
-Intangibles |
1,214,371 |
2,146,578 |
3,487,871 |
|
-Others |
638,957,081 |
620,079,136 |
551,157,774 |
|
Total Liabilities |
22,851,656,701 |
31,554,293,044 |
23,411,639,607 |
|
Current Liabilities |
22,851,656,701 |
31,554,293,044 |
23,361,658,112 |
|
Fixed Liabilities |
- |
- |
49,981,495 |
|
Capital Stock |
295,590,000 |
300,000,000 |
300,000,000 |
|
Capital Surplus |
- |
- |
- |
|
Profit Surplus |
25,469,579,028 |
17,425,738,573 |
10,465,681,675 |
|
Capital Adjustment |
42,187,819,259 |
4,179,157,953 |
-3,913,236,834 |
|
Total Equity |
67,952,988,287 |
21,904,896,526 |
6,852,444,841 |
|
Liab. & Shareholder’s Equity |
90,804,644,988 |
53,459,189,570 |
30,264,084,448 |
|
Current
Liabilities |
22,851,656,701 |
31,554,293,044 |
23,361,658,112 |
|
Trade Payables |
21,063,465,101 |
27,093,610,416 |
15,783,613,182 |
|
Withholdings |
34,110,180 |
26,503,190 |
76,158,360 |
|
Advance Receipts |
958,021,515 |
79,267,434 |
775,368,695 |
|
Short-Term Borrowings |
- |
3,000,000,000 |
1,700,000,000 |
|
Account Payables |
123,622,891 |
94,511,902 |
66,259,027 |
|
Accrued Income Tax |
656,311,513 |
1,221,601,118 |
4,866,610,692 |
|
Accrued Expenses |
16,125,501 |
38,798,984 |
93,648,156 |
|
Fixed
Liabilities |
- |
- |
49,981,495 |
|
Provision for Severance & Retirement |
- |
- |
125,133,359 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
755,052,552,862 |
779,171,990,911 |
442,942,534,295 |
|
Cost of Sold Goods |
741,634,884,354 |
764,444,513,001 |
433,899,518,666 |
|
Gross Profit |
13,417,668,508 |
14,727,477,910 |
9,043,015,629 |
|
Selling & Admin. Expenses |
5,627,653,243 |
5,619,801,371 |
3,927,305,090 |
|
Operating Income |
7,790,015,265 |
9,107,676,539 |
5,115,710,539 |
|
Non-Operating Income |
13,168,256,818 |
12,530,604,989 |
21,677,415,526 |
|
Non-Operating Expenses |
9,605,761,771 |
12,387,658,268 |
19,704,639,648 |
|
Income Before Taxes |
11,352,510,312 |
9,250,623,260 |
7,088,486,417 |
|
Income Taxes Expenses |
1,375,500,447 |
2,290,566,362 |
5,081,337,332 |
|
Net Income |
9,977,009,865 |
6,960,056,898 |
2,007,149,085 |
Cash
Flows
|
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows from Operating |
8,136,404,042 |
4,393,304,032 |
14,324,168,832 |
|
-Net Income |
9,977,009,865 |
6,960,056,898 |
2,007,149,085 |
|
-Exp.
without Cash Outflow |
467,255,778 |
1,033,972,910 |
159,305,971 |
|
-Revenue
without Cash Inflows |
-2,706,771,179 |
-1,626,684,969 |
-1,148,236,834 |
|
-Changes in
Asset/ & Liability |
398,909,578 |
-1,974,040,807 |
13,305,950,610 |
|
Cash Flows
from Investing |
411,421,879 |
-4,151,901,473 |
-1,135,376,974 |
|
-Cash Inflow
from Investing |
675,164,543 |
581,666,000 |
- |
|
-Cash Outflows
for Investing |
-263,742,664 |
-4,733,567,473 |
-1,135,376,974 |
|
Cash Flows
from Financing |
-3,999,508,860 |
1,300,000,000 |
- |
|
-Cash
Inflows from Financing |
- |
1,300,000,000 |
- |
|
-Cash
Outflows from Financing |
-3,999,508,860 |
- |
- |
|
Increase/Decrease
in Cash |
4,548,317,061 |
1,541,402,559 |
13,188,791,858 |
|
Cash at the
Beginning of Year |
15,839,198,372 |
14,297,795,813 |
1,109,003,955 |
|
Cash at the
End of Year |
20,387,515,433 |
15,839,198,372 |
14,297,795,813 |
Products, Technologies, Services Description
|
Main Products & Services |
Petrochemicals Polypropylene Resin Freight Transport Brokerage Agency and Other Supporting Transport Services |
Trade Partners & Competitors
|
Customers |
KOREA PETRO CHEMICAL IND CO.,LTD.(110111-0024698) UNI-PEPP. LTD.(110111-1933913) |
|
Competitors |
YOUNG CHEON LOGISTICS CO., LTD. 4TH FL., YEONGCHEON BLDG., 33-2,
GONGHANG-DONG, GANGSEO-GU, SEOUL, KOREA TEL:+82-2-3663-9009 FAX:+82-2-3665-3004 AGILITY LTD. 2ND FL., YEOLRIN BLDG., 1666-3, SEOCHO
1-DONG, SEOCHO-GU, SEOUL, KOREA TEL:+82-2-539-9411 FAX:+82-2-539-2071 AIRSTAR INTERNATIONAL CO., LTD. 2ND FL., SEOYEONG BLDG., 367-9,
SEOGYO-DONG, MAPO-GU, SEOUL, KOREA TEL:+82-2-333-3933 FAX:+82-2-323-5700 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
KOREA PETRO CHEMICAL IND CO.,LTD.(110111-0024698) (3.66% held by the subject company) UNI-PEPP. LTD.(110111-1933913) (38.05% held by the subject company) KOREA AIR-TECH CO., LTD.(230111-0114452) |
|
Subsidiary |
ATMAN PTE.LTD. (100.0% held by the subject company) |
|
Cooperative Enterprise |
-Insured Company DONGBU INSURANCE CO., LTD.(110111-0095285) SAMSUNG FIRE & MARINE INSURANCE CO., LTD.(110111-0005078) FEDERAL INSURANCE COMPANY |
Sales by Region
(Activity & Markets)
The Subject exports
to China and USA
Court Action
No.
News Clipping
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.43 |
|
UK Pound |
1 |
Rs.79.10 |
|
Euro |
1 |
Rs.66.17 |
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.