MIRA INFORM REPORT
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Report Date : |
28.01.2012 |
IDENTIFICATION DETAILS
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Name : |
SD CORPORATION |
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Formerly Known As : |
SD CO., LTD. |
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Registered Office : |
1650-5, Songjeong-dong, Gangseo-gu, Busan,
Korea, Zip Code 618-819 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
18.06.1998 |
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Com. Reg. No.: |
620-81-17361 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Wholesale of Wood and Builders' Joinery Wood |
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No. of Employees
: |
47 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
SD CORPORATION (Korean Company
Name : “에스디상사(주)”) |
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Registered Address |
1650-5, Songjeong-dong, Gangseo-gu, Busan,
Korea |
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Zip Code |
618-819 |
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Tel |
+82-51-831-9100 |
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Fax |
+82-51-831-0032 |
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E-mail |
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Website |
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Trading Address |
1650-5, Songjeong-dong, Gangseo-gu, Busan,
Korea |
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Tel |
+82-51-831-9100 |
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Fax |
+82-51-831-0032 |
|
Type |
Import |
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Industry |
Wholesale of Wood and Builders' Joinery Wood |
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Main Business |
Lumber, Wood Products, Construction Materials |
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Established (mm/dd/yyyy) |
06/18/1998 |
The Subject owns
the premises of registered HQ address.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Plywood(11121609) |
|
Sell |
Wood(11121600) |
CEO’s
|
Name |
Wang Min |
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Address |
Suite 207-2502, 1479, Geoje-dong,
Yeonje-gu, Busan, Korea |
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Date of Birth |
08/20/1968 |
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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) |
250,000,000 |
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Employees |
47 |
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Formation |
Co., Ltd by Shares Venture Business |
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Bank Details |
Gyungnam Bank Kookmin Bank-Sasang Corporate Finance
Branch Industrial Bank of Korea Busan Bank |
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Corporate Registered No. |
230111-0050630 |
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Business Registered No. |
620-81-17361 |
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Permit & Licenses |
N/A |
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Shareholder Position |
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Company History |
06/18/1998 Incorporated as SD CO., LTD. 09/2001 Changed company name to the present
name 12/24/2003 Increased capital to 250,000,000
KRW from 200,000,000 KRW 03/09/2008 Moved to the present HQ address
from 642, Eomgung-dong, Sasang-gu, Busan, Korea 04/21/2011 Designated as a Venture Business |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Wang Min |
Male |
Korean |
08/22/2003 |
|
Director |
Mr. |
Yeom Jae-Seok |
Male |
Korean |
04/19/2000 |
|
Auditor |
Mr. |
Ko Kwon-Jin |
Male |
Korean |
03/28/2011 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
33,824,115,805 |
13,727,830,303 |
1,677,217,386 |
|
|
2009 |
23,220,990,360 |
13,243,685,965 |
976,529,061 |
|
2008 |
22,527,125,382 |
11,749,890,290 |
-1,091,053,146 |
Financial Description
|
Authorized Capital(KRW) |
800,000,000 |
|
Paid-Up Capital(KRW) |
250,000,000 |
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Total Issued Shares |
25,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
13,727,830,303 |
13,243,685,965 |
11,749,890,290 |
|
Current Assets |
7,009,520,836 |
6,685,305,768 |
6,164,692,207 |
|
-Quick Assets |
4,077,837,817 |
4,255,370,810 |
2,595,429,263 |
|
-Inventories |
2,931,683,019 |
2,429,934,958 |
3,569,262,944 |
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Fixed Assets |
6,718,309,467 |
6,558,380,197 |
5,585,198,083 |
|
-Investment |
527,155,314 |
900,783,488 |
476,601,000 |
|
-Tangibles |
6,026,717,606 |
5,583,757,361 |
5,039,905,142 |
|
-Intangibles |
7,200,000 |
9,600,000 |
- |
|
-Others |
157,236,547 |
64,239,348 |
68,691,941 |
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Total Liabilities |
9,498,149,199 |
10,688,114,120 |
10,190,672,250 |
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Current Liabilities |
8,272,316,598 |
9,032,655,418 |
9,025,465,731 |
|
Fixed Liabilities |
1,225,832,601 |
1,655,458,702 |
1,165,206,519 |
|
Capital Stock |
250,000,000 |
250,000,000 |
250,000,000 |
|
Capital Surplus |
|
|
|
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Profit Surplus |
3,962,964,487 |
2,285,747,101 |
1,309,218,040 |
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Capital Adjustment |
16,716,617 |
19,824,744 |
- |
|
Total Equity |
4,229,681,104 |
2,555,571,845 |
1,559,218,040 |
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Liab. & Shareholder’s Equity |
13,727,830,303 |
13,243,685,965 |
11,749,890,290 |
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Current Liabilities |
8,272,316,598 |
9,032,655,418 |
9,025,465,731 |
|
Trade Payables |
67,426,031 |
35,003,843 |
500,915,211 |
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Short-Term Borrowings |
6,641,217,514 |
8,491,446,282 |
7,905,702,447 |
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Current Portion of Long-Term Debts |
570,000,000 |
- |
- |
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Account Payables |
412,461,867 |
254,965,967 |
366,534,173 |
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Advance Receipts |
48,889,949 |
49,999,107 |
166,525,047 |
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Withholdings |
8,028,160 |
6,909,390 |
5,466,820 |
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VAT Withhold |
259,457,408 |
82,719,191 |
- |
|
Accrued Income Tax |
251,510,206 |
54,920,420 |
4,272,420 |
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Accrued Expenses |
13,325,463 |
56,691,218 |
76,049,613 |
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Fixed Liabilities |
1,225,832,601 |
1,655,458,702 |
1,165,206,519 |
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Long-Term Borrowings |
1,144,000,000 |
1,540,000,000 |
1,000,000,000 |
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Provision for Severance & Retirement |
246,621,045 |
187,592,551 |
173,147,990 |
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Provision for Mileage |
- |
625,400 |
- |
Income
Statement
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|||
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Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
33,824,115,805 |
23,220,990,360 |
22,527,125,382 |
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Cost of Sold Goods |
28,784,387,635 |
20,036,482,244 |
18,534,988,906 |
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Gross Profit |
5,039,728,170 |
3,184,508,116 |
3,992,136,476 |
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Selling & Admin. Expenses |
2,179,847,982 |
2,179,945,221 |
1,872,293,886 |
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Operating Income |
2,859,880,188 |
1,004,562,895 |
2,119,842,590 |
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Non-Operating Income |
428,507,246 |
1,002,133,305 |
267,543,220 |
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Non-Operating Expenses |
1,314,911,042 |
958,823,609 |
3,267,953,285 |
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Income Before Taxes |
1,973,476,392 |
1,047,872,591 |
-880,567,475 |
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Income Taxes Expenses |
296,259,006 |
71,343,530 |
210,485,671 |
|
Net Income |
1,677,217,386 |
976,529,061 |
-1,091,053,146 |
Cash
Flows
|
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows from Operating |
2,863,091,325 |
453,175,230 |
-775,442,150 |
|
-Net Income |
1,677,217,386 |
976,529,061 |
-1,091,053,146 |
|
-Exp. without Cash Outflow |
1,017,528,727 |
877,145,620 |
2,022,978,053 |
|
-Revenue without Cash Inflows |
-47,999,424 |
-385,283,117 |
-165,557,309 |
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-Changes in Asset/ & Liability |
216,344,636 |
-1,015,216,334 |
-1,541,809,748 |
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Cash Flows from Investing |
-478,826,683 |
-1,991,084,750 |
-5,052,193,236 |
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-Cash Inflow from Investing |
3,195,472,264 |
1,234,977,391 |
784,809,363 |
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-Cash Outflows for Investing |
-3,674,298,947 |
-3,226,062,141 |
-5,837,002,599 |
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Cash Flows from Financing |
-2,026,282,541 |
1,507,185,685 |
4,904,152,555 |
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-Cash Inflows from Financing |
23,163,318,040 |
20,241,739,305 |
4,904,152,555 |
|
-Cash Outflows from Financing |
-25,189,600,581 |
-18,734,553,620 |
- |
|
Increase/Decrease in Cash |
357,982,101 |
-30,723,835 |
-923,482,831 |
|
Cash at the Beginning of Year |
2,941,932 |
33,665,767 |
957,148,598 |
|
Cash at the End of Year |
360,924,033 |
2,941,932 |
33,665,767 |
Products, Technologies, Services Description
|
Main Products & Services |
Lumber Products |
Trade Partners & Competitors
|
Competitors |
KWANG WON LUMBER CO., LTD. 162-7L, NAMDONG INDUSTRIAL COMPLEX, 736-4,
GOJAN-DONG, NAMDONG-GU, INCHEON, KOREA TEL:+82-32-811-7100 FAX:+82-32-811-0470 DK KOREA LTD. RM.
310, JEONGSEOK BLDG. ANNEX, 7-241, SINHEUNGDONG 3-GA, JUNG-GU, INCHEON, KOREA TEL:+82-32-886-8933 FAX:+82-32-885-8933 SAMSUNG WOOD CO., LTD. 698-4, BULLO-DONG, SEO-GU, INCHEON, KOREA TEL:+82-32-562-6333 FAX:+82-32-562-9162 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Cooperative Enterprise |
-Insured Company HANWHA GENERAL INSURANCE CO., LTD.(110111-0006456) |
Sales by Region
(Activity & Markets)
The Subject imports
from Russia.
Court Action
No.
News Clipping
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.65 |
|
UK Pound |
1 |
Rs.77.80 |
|
Euro |
1 |
Rs.65.05 |
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 |
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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.