MIRA
INFORM REPORT
|
Report Date : |
30.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
NUNGWON METAL INDUSTRY CO., LTD. |
|
|
|
|
Registered Office : |
314-1, Doha-ri, Eunhyeon-myeon, Yangju-si,
Gyeonggi-do, Korea 482-861 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
30.04.1996 |
|
|
|
|
Com. Reg. No.: |
127-81-65699 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Manufacture of Rolled, Drawn and Folded Products of Copper |
|
|
|
|
No. of Employees : |
350 |
RATING & COMMENTS
|
MIRAs 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 30, 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 |
|
Restricted |
C2 |
|
Off-credit |
D |
Basic Information
|
Company
Name |
NUNGWON METAL INDUSTRY CO., LTD. (Korean Company Name : 능원금속공업(주)) |
|
Registered Address |
314-1, Doha-ri, Eunhyeon-myeon, Yangju-si,
Gyeonggi-do, Korea |
|
Zip Code |
482-861 |
|
Tel |
+82-31-863-8791~3 |
|
Fax |
+82-31-863-8794 |
|
E-mail |
Info@jnmetal.co.kr |
|
Website |
www.nwmetal.co.kr |
|
Trading Address |
Nungdo Bldg., 100-23, Sinseol-dong,
Dongdaemun-gu, Seoul, Korea |
|
Tel |
+82-2-2254-2584 +82-2-2237-5817~9 |
|
Fax |
+82-2-2231-9055 +82-2-2234-8316 |
|
Other Address |
252-152, Yongdu-dong,
Dongdaemun-gu, Seoul, Korea |
|
Type |
Export/Import |
|
Industry |
Manufacture of Rolled, Drawn and Folded Products of Copper |
|
Main Business |
Copper Tube, Level Wound Coil, Refrigeration And ACR Tubes, Inner Grooved
Tube, Variant Tube, Copper Billet, Plumbing Tube, Level Wound Coil, Pancake
Coil, Doughnut Coil, ACR |
|
Established (mm/dd/yyyy) |
04/30/1996 |
The Subject owns
the premises of registered HQ address.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Copper tubing(31231302) |
CEOs
|
Name |
Lee Kwang-Won |
|
Address |
Suite 126-502, 810, Hannam-dong,
Yongsan-gu, Seoul, Korea |
|
Date of Birth |
05/09/1949 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
11,800,000,000 |
||||||||||||
|
Employees |
350 |
||||||||||||
|
Formation |
Co., Ltd by Shares |
||||||||||||
|
Bank Details |
Korea Development Bank Industrial Bank of Korea-Walkerhill Branch |
||||||||||||
|
Corporate Registered No. |
111511-0021877 |
||||||||||||
|
Business Registered No. |
127-81-65699 |
||||||||||||
|
Permit & Licenses |
05/1997 ISO 9002 11/1998 QAS 06/1999 JIS 06/2001 NSF(USA) 12/2001 WARNOCK HERSEY(Canada) 07/2003 ISO 9001 Intl Trade No.: 11182263 |
||||||||||||
|
Shareholder Position |
|
||||||||||||
|
Company History |
03/1986 Established as DONGKWANG METAL CO. 01/1989 Changed company name to SHINHAN
METAL INDUSTRY CO. 04/30/1996 Incorporated as the present name 11/1998 Awarded US$ 1 Million Export Top
Prize 04/12/2000 Acquired GEOSAN METAL CO., LTD.L 11/2000 Awarded US$ 10 Million Export Top
Prize 11/2004 Awarded US$ 30 Million Export Top
Prize 11/2006 Awarded US$ 70 Million Export Top
Prize |
||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lee Kwang-Won |
Male |
Korean |
04/30/1999 |
|
Director |
Mr. |
Park Hong-Moon |
Male |
Korean |
12/15/2003 |
|
Director |
M/S. |
Lee Joo-Hyun |
Female |
Korean |
07/18/2005 |
|
Auditor |
M/S. |
Yoon Hee-Jung |
Female |
Korean |
04/30/1996 |
|
Supervisor |
Mr. |
Cho Deok-Yong |
Male |
Korean |
08/13/2010 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
420,386,888,238 |
182,141,585,208 |
10,399,362,055 |
|
|
2009 |
304,515,551,973 |
156,391,412,538 |
13,924,767,658 |
|
2008 |
323,454,189,907 |
158,998,481,140 |
-37,409,606,652 |
|
2007 |
299,239,613,902 |
123,253,952,812 |
2,327,492,093 |
|
2006 |
236,870,357,172 |
109,275,993,523 |
6,967,887,513 |
Financial Description
|
Authorized Capital(KRW) |
22,000,000,000 |
|
Paid-Up Capital(KRW) |
11,800,000,000 |
|
Total Issues Shares |
1,180,000 |
Balance
Sheet
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
182,141,585,208 |
156,391,412,538 |
158,998,481,140 |
|
Current Assets |
113,615,465,457 |
81,490,699,914 |
84,578,295,292 |
|
-Quick Assets |
66,207,936,900 |
47,861,771,313 |
54,738,205,750 |
|
-Inventories |
47,407,528,557 |
33,628,928,601 |
29,840,089,542 |
|
Fixed Assets |
68,526,119,751 |
74,900,712,624 |
74,420,185,848 |
|
-Investment |
4,269,071,507 |
5,028,177,690 |
4,344,964,500 |
|
-Tangibles |
63,292,488,823 |
66,870,120,844 |
68,615,789,548 |
|
-Intangibles |
964,559,421 |
3,002,414,090 |
1,459,431,800 |
|
Total Liabilities |
132,881,204,041 |
117,548,262,177 |
134,095,777,773 |
|
Current Liabilities |
117,765,354,200 |
100,803,554,946 |
121,974,648,171 |
|
Fixed Liabilities |
15,115,849,841 |
16,744,707,231 |
12,121,129,602 |
|
Capital Stock |
11,800,000,000 |
11,800,000,000 |
11,800,000,000 |
|
Capital Surplus |
186,856,317 |
186,856,317 |
186,856,317 |
|
Profit Surplus |
16,649,155,280 |
6,249,793,225 |
-7,674,974,433 |
|
Capital Adjustment |
20,624,369,570 |
20,606,500,819 |
20,590,821,483 |
|
Total Equity |
49,260,381,167 |
38,843,150,361 |
24,902,703,367 |
|
Liab. & Shareholders Equity |
182,141,585,208 |
156,391,412,538 |
158,998,481,140 |
|
Current Liabilities |
117,765,354,200 |
100,803,554,946 |
121,974,648,171 |
|
Trade Payables |
26,473,485,567 |
8,439,644,062 |
1,830,102,519 |
|
Short-Term Borrowings |
14,650,000,000 |
30,530,700,809 |
39,315,078,994 |
|
Short-Term Borrowings-Foreign Currency |
43,425,069,664 |
46,331,729,199 |
53,741,658,695 |
|
Borrowings to Related Companies |
10,048,894,834 |
- |
6,800,000,000 |
|
Short-Term Debentures |
15,000,000,000 |
8,000,000,000 |
- |
|
Account Payables |
1,536,130,397 |
1,078,727,943 |
992,747,834 |
|
Withholdings |
160,614,686 |
99,544,397 |
93,957,090 |
|
Advance Receipts |
639,886,256 |
425,663,404 |
1,425,076,944 |
|
Accrued Expenses |
993,207,016 |
967,304,932 |
1,308,189,917 |
|
Current Portion of Long-Term Debts |
4,809,901,560 |
4,882,811,040 |
4,486,193,000 |
|
Derivatives |
28,164,220 |
47,429,160 |
11,981,643,178 |
|
Fixed Liabilities |
15,115,849,841 |
16,744,707,231 |
12,121,129,602 |
|
Debentures |
10,000,000,000 |
10,000,000,000 |
- |
|
Long-Term Borrowings |
1,875,000,000 |
3,791,640,000 |
5,708,280,000 |
|
Long-Term Borrowings-Foreign Currency |
- |
2,966,171,040 |
6,389,106,000 |
|
Leasehold Deposit Received |
80,000,000 |
20,000,000 |
5,000,000 |
|
Provision for Severance & Retirement |
3,374,161,700 |
2,229,098,840 |
2,220,884,240 |
|
Deferred Income Tax Credit |
3,061,614,656 |
- |
- |
Income
Statement
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
420,386,888,238 |
304,515,551,973 |
323,454,189,907 |
|
Cost of Sold Goods |
396,280,085,617 |
280,392,547,129 |
307,144,264,132 |
|
Gross Profit |
24,106,802,621 |
24,123,004,844 |
16,309,925,775 |
|
Selling & Admin. Expenses |
11,158,542,923 |
9,201,783,635 |
8,755,721,495 |
|
Operating Income |
12,948,259,698 |
14,921,221,209 |
7,554,204,280 |
|
Non-Operating Income |
15,455,712,783 |
21,208,458,022 |
10,929,622,362 |
|
Non-Operating Expenses |
12,949,803,603 |
19,943,351,791 |
65,598,734,309 |
|
Ordinary Income |
15,454,168,878 |
16,186,327,440 |
-47,114,907,667 |
|
Special Income |
- |
- |
- |
|
Income Before Taxes |
15,454,168,878 |
16,186,327,440 |
-47,114,907,667 |
|
Income Taxes Expenses |
5,054,806,823 |
2,261,559,782 |
-9,705,301,015 |
|
Net Income |
10,399,362,055 |
13,924,767,658 |
-37,409,606,652 |
Cash
Flows
|
Unit :
Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows
from Operating |
10,790,899,651 |
12,653,057,832 |
-34,641,851,916 |
|
-Net Income |
10,399,362,055 |
13,924,767,658 |
-37,409,606,652 |
|
-Exp.
without Cash Outflow |
10,183,691,431 |
9,218,666,784 |
25,553,033,234 |
|
-Revenue
without Cash Inflows |
-626,151,299 |
-1,125,727,671 |
-3,611,306,693 |
|
-Changes in
Asset/ & Liability |
-9,166,002,536 |
-9,364,648,939 |
-19,173,971,805 |
|
Cash Flows
from Investing |
-1,913,270,301 |
-4,542,499,143 |
-2,249,301,773 |
|
-Cash Inflow
from Investing |
7,961,291,897 |
3,885,346,003 |
6,296,138,524 |
|
-Cash
Outflows for Investing |
-9,874,562,198 |
-8,427,845,146 |
-8,545,440,297 |
|
Cash Flows
from Financing |
-6,322,041,769 |
-8,906,125,521 |
37,967,937,771 |
|
-Cash
Inflows from Financing |
247,148,105,184 |
204,004,629,315 |
244,907,527,477 |
|
-Cash
Outflows from Financing |
-253,470,146,953 |
-212,910,754,836 |
-206,939,589,706 |
|
Increase/Decrease
in Cash |
2,555,587,581 |
-795,566,832 |
1,076,784,082 |
|
Cash at the
Beginning of Year |
614,984,209 |
1,410,551,041 |
333,766,959 |
|
Cash at the
End of Year |
3,170,571,790 |
614,984,209 |
1,410,551,041 |
Products, Technologies, Services Description
|
Main Products & Services |
Copper Tube, Level Wound Coil, Refrigeration And ACR Tubes, Inner Grooved
Tube, Variant Tube, Copper Billet, Plumbing Tube, Level Wound Coil, Pancake
Coil, Doughnut Coil, ACR |
Trade Partners & Competitors
|
Suppliers |
JUNGWOO METAL INDUSTRY CO., LTD.(111511-0009310) |
|
Customers |
JUNGWOO METAL INDUSTRY CO., LTD.(111511-0009310) SMI CO., LTD.(KOREA) |
Related Parties
(Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
JUNGWOO METAL INDUSTRY CO., LTD.(111511-0009310) SMI CO., LTD.(KOREA) |
Sales by Region
(Activity &
Markets)
|
Sales/ Unit : KRW |
2010 |
2009 |
2008 |
|
Export |
192,632,540,803 |
104,959,243,800 |
117,287,525,819 |
|
Domestic |
197,634,638,051 |
176,380,958,039 |
203,244,448,458 |
|
Others |
30,119,709,384 |
23,175,350,134 |
2,922,215,630 |
|
Total |
420,386,888,238 |
304,515,551,973 |
323,454,189,907 |
The Subject deals
with the companies in Australia, Taiwan, Thailand and USA.
Court Action
No.
News Clipping
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.64 |
|
|
1 |
Rs.77.79 |
|
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 |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SCs 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.