MIRA INFORM REPORT
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Report Date : |
18.01.2012 |
IDENTIFICATION DETAILS
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Name : |
TESTCO INC. |
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Registered Office : |
500-2, Sangdaewon 1-dong, Jungwon-gu, Seongnam-si, Gyeonggi-do, Korea 2nd Fl., Daeyu DMC Bldg., Zip Code 462-806 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
22.03.2007 |
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Com. Reg. No.: |
129-86-07477 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Other Technical Testing and Analysis |
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No. of Employees
: |
114 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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South korea
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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 |
TESTCO INC. (Korean Company
Name : “테스트코(주)”) |
|
Registered Address |
500-2, Sangdaewon 1-dong, Jungwon-gu,
Seongnam-si, Gyeonggi-do, Korea |
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Building |
2nd Fl., Daeyu DMC Bldg. |
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Zip Code |
462-806 |
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Tel |
+82-31-732-4020 |
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Fax |
+82-31-732-4027 |
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E-mail |
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Website |
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Trading Address |
2nd Fl., Daeyu DMC Bldg., 500-2,
Sangdaewon 1-dong, Jungwon-gu, Seongnam-si, Gyeonggi-do, Korea |
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Tel |
+82-31-732-4020 |
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Fax |
+82-31-732-4027 |
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Type |
Export/Import |
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Industry |
Other Technical Testing and Analysis |
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Main Business |
PKG Test Service, Wafer Test Service, Test Engineering Services |
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Established (mm/dd/yyyy) |
03/22/2007 |
Detailed Products
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Activity |
Detailed Products (UNSPSC) |
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Sell |
PKG Test Service |
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Sell |
Wafer Test Service |
CEO’s
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Name |
Oh Choon-Sik |
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Address |
Suite 12-901, 631-1, Guui-dong,
Gwangjin-gu, Seoul, Korea |
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Date of Birth |
12/22/1957 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
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Capital (KRW) |
925,000,000 |
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Employees |
114 |
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Formation |
Co., Ltd by Shares Venture Business |
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Bank Details |
Korea Development Bank |
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Corporate Registered No. |
131111-0183853 |
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Business Registered No. |
129-86-07477 |
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Permit & Licenses |
06/29/2007 ISO 9001 |
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Shareholder Position |
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Company History |
03/22/2007 Incorporated as the present name 03/22/2007 Designated as a Venture Business 05/04/2007 Increased the authorized shares to 10,000,000 shares from
2,400,000 shares 01/16/2009 Decreased capital to 925,000,000
KRW from 950,000,000 KRW 10/28/2010 Designated as a Venture Business
again |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
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President & CEO |
Mr. |
Oh Choon-Sik |
Male |
Korean |
03/26/2009 |
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Outside Director |
Mr. |
Song Hyuck-Jin |
Male |
Korean |
03/26/2009 |
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Director |
Mr. |
Lee Kyung-Dong |
Male |
Korean |
03/26/2009 |
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Auditor |
M/S. |
Kim Jeong-Ok |
Female |
Korean |
03/26/2009 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
18,509,298,886 |
20,711,305,011 |
1,360,949,373 |
|
|
2009 |
13,510,420,794 |
22,501,528,218 |
81,841,155 |
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2008 |
14,603,936,080 |
21,428,327,520 |
-1,045,192,556 |
|
2007 |
6,202,551,896 |
15,449,717,109 |
227,046,677 |
Financial Description
|
Authorized Capital(KRW) |
5,000,000,000 |
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Paid-Up Capital(KRW) |
925,000,000 |
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Total Issued Shares |
1,850,000 (Common : 1,750,000 / Preferable : 100,000) |
Balance Sheet
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Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
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Total Assets |
20,711,305,011 |
22,501,528,218 |
21,428,327,520 |
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Current Assets |
5,179,979,349 |
6,771,245,458 |
6,124,948,748 |
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-Quick Assets |
5,159,846,638 |
6,750,177,623 |
6,070,619,882 |
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-Inventories |
20,132,711 |
21,067,835 |
54,328,866 |
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Fixed Assets |
15,531,325,662 |
15,730,282,760 |
15,303,378,772 |
|
-Investment |
243,803,793 |
404,827,361 |
55,107,000 |
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-Tangibles |
14,017,770,617 |
14,274,542,363 |
14,138,855,953 |
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-Intangibles |
108,292,416 |
142,370,140 |
179,789,033 |
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-Others |
1,161,458,836 |
908,542,896 |
929,626,786 |
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Total Liabilities |
12,801,586,402 |
15,952,758,982 |
14,957,937,824 |
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Current Liabilities |
9,119,802,649 |
10,281,320,000 |
4,674,871,709 |
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Fixed Liabilities |
3,681,783,753 |
5,671,438,982 |
10,283,066,115 |
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Capital Stock |
925,000,000 |
925,000,000 |
950,000,000 |
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Capital Surplus |
6,644,073,200 |
6,644,073,200 |
6,644,073,200 |
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Profit Surplus |
624,644,649 |
-736,304,724 |
-818,145,879 |
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Capital Adjustment |
-283,999,240 |
-283,999,240 |
-305,537,625 |
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Total Equity |
7,909,718,609 |
6,548,769,236 |
6,470,389,696 |
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Liab. & Shareholder’s Equity |
20,711,305,011 |
22,501,528,218 |
21,428,327,520 |
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Current Liabilities |
9,119,802,649 |
10,281,320,000 |
4,674,871,709 |
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Short-Term Borrowings |
4,046,421,885 |
5,458,424,800 |
1,000,000,000 |
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Account Payables |
2,050,381,229 |
2,029,943,499 |
1,290,036,382 |
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Accrued Expenses |
22,311,369 |
11,519,431 |
6,928,767 |
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Withholdings |
33,259,608 |
31,432,270 |
2,906,560 |
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Current Portion of Long-Term Debts |
1,820,133,340 |
2,750,000,000 |
2,375,000,000 |
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Convertible Bonds |
1,000,000,000 |
- |
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Fixed Liabilities |
3,681,783,753 |
5,671,438,982 |
10,283,066,115 |
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Long-Term Borrowings |
3,332,666,660 |
2,875,000,000 |
5,625,000,000 |
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Long-Term Account Payables |
312,714,710 |
1,721,722,075 |
3,428,223,973 |
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Convertible Bonds |
- |
1,000,000,000 |
1,000,000,000 |
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Provision for Severance & Retirement |
458,476,022 |
389,647,377 |
303,435,566 |
Income Statement
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Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
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Sales |
18,509,298,886 |
13,510,420,794 |
14,603,936,080 |
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Cost of Sold Goods |
13,695,869,113 |
11,884,320,144 |
12,050,703,289 |
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Gross Profit |
4,813,429,773 |
1,626,100,650 |
2,553,232,791 |
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Selling & Admin. Expenses |
1,949,577,212 |
1,363,431,018 |
1,465,433,664 |
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Operating Income |
2,863,852,561 |
262,669,632 |
1,087,799,127 |
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Non-Operating Income |
266,925,933 |
893,968,450 |
273,669,576 |
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Non-Operating Expenses |
1,844,023,472 |
1,123,942,258 |
2,529,996,806 |
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Income Before Taxes |
1,286,755,022 |
32,695,824 |
-1,168,528,103 |
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Income Taxes Expenses |
-74,194,351 |
-49,145,331 |
-123,335,547 |
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Net Income |
1,360,949,373 |
81,841,155 |
-1,045,192,556 |
Cash Flows
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
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Cash Flows from Operating |
8,768,404,511 |
2,692,473,626 |
1,527,525,323 |
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-Net Income |
1,360,949,373 |
81,841,155 |
-1,045,192,556 |
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-Exp. without Cash Outflow |
6,265,816,537 |
4,507,917,797 |
5,533,136,480 |
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-Revenue without Cash Inflows |
-99,854,634 |
-611,218,038 |
-11,610,565 |
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-Changes in Asset/ & Liability |
1,241,493,235 |
-1,286,067,288 |
3,550,000 |
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Cash Flows from Investing |
-5,930,461,522 |
-2,905,015,249 |
-7,840,399,285 |
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-Cash Inflow from Investing |
37,099,962 |
2,413,682,661 |
5,215,945,892 |
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-Cash Outflows for Investing |
-5,967,561,484 |
-5,318,697,910 |
-13,056,345,177 |
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Cash Flows from Financing |
-3,334,939,364 |
968,925,836 |
7,600,000,000 |
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-Cash Inflows from Financing |
3,377,500,000 |
5,742,170,400 |
8,000,000,000 |
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-Cash Outflows from Financing |
-6,712,439,364 |
-4,773,244,564 |
-400,000,000 |
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Increase/Decrease in Cash |
-496,996,375 |
756,384,213 |
1,287,126,038 |
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Cash at the Beginning of Year |
2,702,820,274 |
1,946,436,061 |
659,310,023 |
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Cash at the End of Year |
2,205,823,899 |
2,702,820,274 |
1,946,436,061 |
Products, Technologies, Services Description
|
Main Products & Services |
PKG Test Service, Wafer Test Service, Test Engineering Services |
Trade Partners & Competitors
|
Suppliers |
Advantest Finance Inc., provides the machinery Leasing Services to the
subject company. |
|
Competitors |
KOREA TEXTILE INSPECTION & TESTING
INSTITUTE 138-7, SANGDAEWON 1-DONG, JUNGWON-GU,
SEONGNAM-SI, GYEONGGI-DO, KOREA TEL:+82-2-3451-7000 FAX:+82-2-3451-7170 KOREA STRUCTURAL ANALYSIS & DIAGNOSIS
ENG. CO., LTD. 4TH FL., TAESAN BLDG., 114-4, BANGI 2-DONG,
SONGPA-GU, SEOUL, KOREA TEL:+82-2-420-0440 FAX:+82-2-420-8668 QRT SEMICONDUCTOR INC. SAN 136-1, AMI-RI, BUBAL-EUP, ICHEON-SI,
GYEONGGI-DO, KOREA TEL:+82-31-639-7618 FAX:+82-31-639-7654 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Cooperative Enterprise |
-Insured Company SAMSUNG FIRE & MARINE INSURANCE CO., LTD.(110111-0005078) HYUNDAI MARINE & FIRE INSURANCE CO., LTD.(110111-0035893) |
Sales by Region
(Activity & Markets)
Not Available.
Court Action
Not Available.
News Clipping
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.06 |
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UK Pound |
1 |
Rs.78.48 |
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Euro |
1 |
Rs.64.99 |
RATING EXPLANATIONS
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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 |
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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.