MIRA INFORM REPORT
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Report Date : |
30.01.2012 |
IDENTIFICATION DETAILS
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Name : |
SK ENERGY CO., LTD. |
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Registered Office : |
99, Seorin-dong, Jongno-gu, Seoul, Korea, SK Bldg., Zip Code 110-728 |
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Country : |
South Korea |
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Financials (as on) : |
30.09.2011 |
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Date of Incorporation : |
04.01.2011 |
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Com. Reg. No.: |
101-86-60120 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Petroleum Refineries |
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No. of Employees
: |
2,948 |
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 : |
Exists |
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 |
SK ENERGY CO., LTD. (Korean Company Name : “에스케이에너지(주)”) |
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Registered Address |
99, Seorin-dong, Jongno-gu, Seoul, Korea |
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Building |
SK Bldg. |
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Zip Code |
110-728 |
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Tel |
+82-2-2121-5114 |
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Fax |
+82-2-2121-7001 |
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E-mail |
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Website |
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Trading Address |
SK Bldg., 99, Seorin-dong, Jongno-gu,
Seoul, Korea |
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Tel |
+82-2-2121-5114 |
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Fax |
+82-2-2121-7001 |
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Type |
Export/Import |
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Industry |
Petroleum Refineries |
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Main Business |
Diesel, Gasoline, Lubricant, Ethylene, Polymer, Oil Refining,
Petrochemical |
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Established (mm/dd/yyyy) |
01/04/2011 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
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Sell |
Resins(13111000) |
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Sell |
Polystyrene PS(13102026) |
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Sell |
High Density Polyethylene HDPE(13102017) |
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Sell |
Amines or imines or its substitutes(12352116) |
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Sell |
Elastomers(13101700) |
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Sell |
Polyethylene(13111016) |
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Sell |
Chemistry reagents or solutions(41116105) |
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Sell |
Polypropylene PP(13102022) |
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Sell |
Additives(12160000) |
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Sell |
Aviation fuel(15101504) |
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Sell |
Medium Density Polyethylene MDPE(13102019) |
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Sell |
Thermoplastic plastics(13102000) |
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Sell |
Aromatic or heterocyclic compounds(12352005) |
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Sell |
Low Density Polyethylene LDPE(13102018) |
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Sell |
Lubricating preparations(15121500) |
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Sell |
Engine oil(15121501) |
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Sell |
Grease(15121902) |
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Sell |
Hydraulic oil(15121504) |
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Sell |
Transmission oil(15121508) |
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Sell |
Kerosene(15101502) |
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Sell |
Fuel oil(15101700) |
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Sell |
Asphalt(30121601) |
CEO’s
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Name |
Park Bong-Kyun |
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Address |
Suite 121-1107, 102, Jingwan-dong,
Eunpyeong-gu, Seoul, Korea |
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Date of Birth |
12/08/1958 |
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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) |
300,000,000,000 |
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Employees |
2,948 |
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Formation |
Co., Ltd by Shares A Company of SK Group |
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Bank Details |
Hana Bank |
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Corporate Registered No. |
110111-4505967 |
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Business Registered No. |
101-86-60120 |
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Permit & Licenses |
Int’l Trade No.: 30682874 |
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Shareholder Position |
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Company History |
01/04/2011
Incorporated after spin off from SK ENERGY CO., LTD., has been spin off into the existing company, SK INNOVATION
CO., LTD.(110111-3710385), and newly established
companies, SK GLOBAL CHEMICAL CO., LTD.(110111-4505975), and SK ENERGY CO., LTD.(110111-4505967) |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
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President & CEO |
Mr. |
Park Bong-Kyun |
Male |
Korean |
01/04/2011 |
|
Director |
Mr. |
Hur Jin |
Male |
Korean |
01/04/2011 |
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Director |
Mr. |
Koo Ja-Young |
Male |
USA |
01/04/2011 |
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Director |
Mr. |
Kim Kyung-Bae |
Male |
Korean |
01/04/2011 |
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Director |
Mr. |
Cha Jin-Seok |
Male |
Korean |
01/04/2011 |
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Auditor |
Mr. |
You Sung-Hyun |
Male |
Korean |
01/04/2011 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
37,060,606,964,000 |
19,732,982,966,000 |
639,998,735,000 |
Financial Description
|
Authorized Capital(KRW) |
1,200,000,000,000 |
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Paid-Up Capital(KRW) |
300,000,000,000 |
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Total Issues Shares |
60,000,000 |
Balance
Sheet
|
|||
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Unit : Thousand Korean Won |
01/01/2011~09/30/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
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Total Assets |
19,732,982,966 |
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Current Assets |
11,506,504,546 |
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Cash & Cash Equivalents |
1,473,751,226 |
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Current Financial Instruments |
160,221,700 |
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Trade Receivables |
3,122,396,462 |
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Short-Term Receivables |
39,262,092 |
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Other Receivables |
784,310,129 |
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Accrued Income |
2,856,607 |
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Advance Payments |
393,783,763 |
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Guarantee Deposit |
16,737,889 |
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Prepaid Expenses |
16,113,342 |
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Derivatives |
141,106,071 |
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Confirmed Agreement Assets |
10,912,656 |
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Inventories |
5,345,052,609 |
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Non-Current Assets |
8,226,478,420 |
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Long-Term Trade Receivables |
89 |
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Non-Current Financial Instruments |
9,972,252 |
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Marketable Financial Instruments |
28,266,957 |
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Long-Term Receivables |
73,400,401 |
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Guarantee Deposit |
19,738,078 |
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Investment_Related Companies |
423,977,618 |
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Tangibles |
7,605,516,937 |
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Intangibles |
59,404,796 |
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Derivatives |
1,111,071 |
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Confirmed Agreement Assets |
5,090,221 |
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Total Liabilities |
12,571,954,746 |
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Current Liabilities |
10,327,162,691 |
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Trade Payables |
4,787,870,474 |
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Short-Term Borrowings |
2,523,749,144 |
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Current Long-Term Liabilities |
1,024,562,295 |
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Account Payables |
363,003,890 |
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Deferred Income Tax Credit |
12,323,647 |
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Advance Receipts |
15,737,160 |
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Withholdings |
749,666,301 |
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Leasehold Deposit Received |
17,931,900 |
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Accrued Expenses |
726,318,660 |
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Unearned Income |
12,758,918 |
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Derivatives |
59,365,333 |
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Confirmed Agreement
Liabilities |
33,874,969 |
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Non-Current Liabilities |
2,244,792,055 |
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Long-Term Borrowings |
1,673,736,076 |
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Provision for Severance & Retirement |
65,811,321 |
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Finance Guarantee Liabilities |
2,458,852 |
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Derivatives |
5,090,221 |
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Confirmed Agreement
Liabilities |
1,111,071 |
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|
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Deferred Income Tax Credit |
496,584,514 |
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Capital Stock |
300,000,000 |
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Capital Surplus |
6,235,450,238 |
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Others |
1,906,971 |
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Profit Surplus |
623,671,011 |
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Total Equity |
7,161,028,220 |
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Liab. & Shareholder’s Equity |
19,732,982,966 |
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Income
Statement
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Unit : Thousand Korean Won |
01/01/2011~09/30/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
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Sales |
37,060,606,964 |
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|
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Cost of Sold Goods |
35,403,609,376 |
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Gross Profit |
1,656,997,588 |
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Selling & Admin.
Expenses |
-575,973,193 |
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Other Operating
Income |
1,115,638,542 |
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Other Operating Expenses |
-1,176,584,614 |
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Operating Income |
1,020,078,323 |
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Finance Income |
445,204,881 |
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Finance Expenses |
-619,914,177 |
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Income Before Taxes |
845,369,027 |
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Income Taxes Expenses |
205,370,292 |
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Net Income |
639,998,735 |
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Cash
Flows
|
|||
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Unit : Thousand Korean Won |
01/01/2011~09/30/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
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Operating Activities Cash Flows |
769,872,337 |
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Net Income |
639,998,735 |
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|
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Adjustment |
282,398,404 |
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Dividends Received |
939,188 |
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Interests Received |
26,060,457 |
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Interests Paid |
-125,163,307 |
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Income Taxes |
-54,361,140 |
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Cash Flows from
Investing |
-264,668,322 |
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Cash Flows from
Financing |
-171,708,588 |
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Increase/Decrease in
Cash |
333,495,427 |
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Cash at the Beginning
of Year |
1,140,255,799 |
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|
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Cash at the End of
Year |
1,473,751,226 |
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Products, Technologies, Services Description
|
Main Products & Services |
REFINING BUSINESS -Petroleum -LPG -Specialty Petroleum Products PETROCHEMICAL BUSINESS -Olefins -Aromatics -Performance Chemicals: -Polymers -Performance Rubber (EPDM) -Inter-Electrolyte Material EXPLORATION & PRODUCTION BUSINESS -E&P -Coal LUBRICANTS BUSINESS TECHNOLOGY BUSINESS MARKETING BUSINESS -Car Life -OK Cashbag RESEARCH & DEVELOPMENT Brand Name : ZIC |
Trade Partners & Competitors
|
Suppliers |
SK C&C CO., LTD.(110111-0769583) |
|
Customers |
SK NETWORKS CO., LTD.(130111-0005199) SK ENERGY INTERNATIONAL PTE. LTD. SINOPEC (HK) PETROLEUM CO., LTD KOREA ELECTRIC POWER CORPORATION(114671-0001456) KOREA ARMY SUHYUP |
|
Competitors |
GS-CALTEX CORPORATION (110111-0078819) GS GANGNAM TOWER, 679, YEOKSAM 1-DONG,
GANGNAM-GU, SEOUL, KOREA TEL:+82-2-2005-1114 FAX:+82-2-2005-6051 S-OIL CORPORATION(110111-0189955) 45TH FL., KOREA LIFE INSURANCE 63 BLDG.,
60, YEOEUIDO-DONG, YEONGDEUNGPO-GU, SEOUL, KOREA TEL:+82-2-3772-5151 FAX:+82-2-786-4030 HYUNDAI OILBANK CO., LTD.(110111-0090558) 640-6. DAEJUK-RI, DAESAN-EUP, SEOSAN-SI,
CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-660-5114 FAX:+82-41-660-5111 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates-Domestic |
SK INNOVATION CO., LTD.(110111-3710385) SK ENERGY CO., LTD.(110111-4505967) SK GLOBAL CHEMICAL CO., LTD.(110111-4505975) SK TELECOM CO., LTD.(110111-0371346) SK C&C CO., LTD.(110111-0769583) SK TELINK, CORP.(110111-1533599) INNOACE CO., LTD(110111-2104026) PAXNET, INC.(110111-1698830) IHQ, INC.(110111-0042393) AIRCROSS CO., LTD.(110111-2121765) TU MEDIA CORPORATION(110111-2907826) SK COMMUNICATIONS CO., LTD.(110111-1322885) COMMERCE PLANET CO., LTD.(110111-1416133) F&U CREDIT INFORMATION CO.,
LTD.(135311-0003300) SK WYVERNS CO., LTD(120111-0217366) SK HOLDINGS CO., LTD.(110111-0022816) SK ENGINEERING & CONSTRUCTION CO.,
LTD.(110111-0038805) SK TELESYS CO., LTD.(110111-1405897) LOEN ENTERTAINMENT, INC.(134111-0010706) INFOSEC CO., LTD(110111-2007858) INDEPENDENCE CO., LTD.(110111-2010116) SKC MEDIA CO., LTD.(161511-0076377) IFILM CORPORATION(110111-2857451) SK BROADBAND CO., LTD.(110111-1466659) CU MEDIA. INC.(110111-2031477) NTREEV SOFT CO., LTD.(110111-2906456) SK I-MEDIA CO., LTD.(110111-3505851) IPLATFORM, INC(110111-3638917) NURI SOLUTION CO., LTD.(110111-1866213) HANAROMEDIA INC.(110111-3292664) HANARO DREAM INCORPORATED(110111-2183343) BROADBAND D&M CO., LTD.(110111-1509269) NOWON JOEUN TELECOM CO.,
LTD.(110111-3655218) MIRACLE INFORMATION & TELECOMMUNICATION
CO., LTD.(120111-0433491) ENCAR NETWORKS LTD.(110111-2125270) SK MARKETING & COMPANY CO., LTD.(110111-3874066) |
|
Affiliates-Domestic |
QC I&T CO., LTD.(110111-3675381) QL KWANAK CO., LTD.(110111-3826140) QL DONGJAK CO., LTD.(110111-3729740) QL SEOCHO CO., LTD.(110111-3729807) QL YONGSAN CO., LTD.(110111-3761023) QL YANGCHEON CO., LTD.(110111-3729609) SK NETWORKS CO., LTD.(130111-0005199) SK SHIPPING CO., LTD.(110111-0311392) MRO KOREA CO., LTD(110111-2016940) SK D&D CO., LTD.(110111-3001685) OK CASHBAG SERVICE CO., LTD.(110111-1873432) SK NETWORKS SERVICE CO., LTD.(135811-0141788) BROADBAND TS CO., LTD.(281111-0119401) BROADBAND CS CO., LTD.(110111-1592595) BROADBAND SEOUL CS CO., LTD.(110111-3558842) BROADBAND BUSAN CS CO., LTD.(180111-0573774) BROADBAND GYEONGGI CS CO., LTD.(134111-0147575) BROADBAND GWANGJU CS CO., LTD.(200111-0233050) ANTS CO., LTD.(151111-0031058) ULLEUNG DEEP SEA WATER CO., LTD(110111-3224724) WS TRADING CO., LTD.(110111-3448712) SK SECURITIES CO., LTD(110111-0037112) SOLMICS CO., LTD.(134711-0014631) UB CARE CO., LTD.(110111-1105364) MECHARONICS CO., LTD.(120111-0233338) ULLEUNG MINERAL CO., LTD.(110111-2602244) WALKERHILL INC.(110111-0142854) REAL BEST CO., LTD.(180111-0612027) SK LUBRICANTS CO., LTD.(110111-4191815) |
|
Affiliates-Overseas |
SK AUSTRALIA PTY. LTD. SK AUSTRALIA(TOGARA) SK AUSTRALIA(WYONG) SK DO BRASIL, LTDA SK E&P CO. LTD. SK ENERGY INTERNATIONAL PTE LTD. SK ENERGY EUROPE LTD. SK CHINA HOLDING CO.LTD. SK INSURANCE (BERMUDA) LTD SK ENERGY ROAD INVESTMENT SK E&P ASIA LIMITED SK CORPORATION HONG KONG INVESTMENT CELTIC OIL LIMITED SK ENERGY CANADA LIMITED SK USA, INC. SHANGHAI GAOQIAO-SK SOLVENT DZP (DE ZWARTE PONK B.V.) SKC INC ZHEJIANG SHENXIN SK PACKAGING CO. LTD. SK CHINA CO. LTD. |
|
Subsidiary |
ENCAR NETWORKS LTD.(110111-2125270) NETRUCK CORPORATION (110111-3222570) NINGBO SK BAOYING ASPHALT STORAGE CO., LTD. HEFEI SK BAOYING ASPHALT CO., LTD. RIZHAO SK ASPHALT CO., LTD. CHONGQING SK ASPHALT CO., LTD. SK ENERGY ROAD INVESTMENT CO., LTD SK ENERGY ROAD INVESTMENT(HK) CO., LTD JINWHA SK BAOYING ASPHALT CO., LTD. SK ENERGY INTERNATIONAL PTE., LTD. SK ENERGY EUROPE, LTD. SHANXI SK GUOLIN ASPHALT CO., LTD. SK ENERGY HONG KONG CO., LTD. SK ENERGY AMERICAS, INC. SK ENERGY MANAGEMENT AND TECHNOLOGY PTE.,
LTD. SK(BEIJING) ROAD SCIENCE & TECHNOLOGY
CO., LTD. SHANXI SK ZHENHUA ASPHALT CO., LTD. SK TERMINAL B.V. BERGAYA INTERNAIONAL PTE., LTD. SK SHANGHAI ASPHALT CO., LTD. SHANDONG SK HIGHTECH OIL CO., LTD. |
|
Cooperative Enterprise |
-Brand Using Agreement SK HOLDINGS CO., LTD.(110111-0022816) |
Sales by Region
(Activity & Markets)
|
Sales/ Unit :Mil KRW |
09/2011 |
2010 |
2009 |
|
Export |
17,307,395 |
|
|
|
Domestic |
20,146,869 |
|
|
|
Others |
27,664,920 |
|
|
|
Total |
65,119,184 |
|
|
The Subject deals with the companies in USA, Australia, China, Indonesia,
India and Vietnam.
Court Action
|
Case No. |
Court |
Plaintiff(s)/
Creditor(s)/ Applicant(s) |
Defendant(s)/
Debtor(s)/ Respondent(s) |
Cause |
Amount (KRW) |
Status |
|
|
|
The Ministry of Defense, Korea |
The Subject Company & Others(3) |
Claim for Compensation from Damages |
131,000,000,000 |
2nd round is proceeding |
|
|
|
The Subject Company |
Korea National Oil Corporation |
- |
18,800,000,000 |
3rd round is proceeding |
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 |
|
---- |
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.