MIRA
INFORM REPORT
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Report Date : |
30.01.2012 |
IDENTIFICATION DETAILS
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Name : |
SOLARPARK KOREA CO., LTD. |
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Formerly Known As : |
SOLARPARK CO., LTD. |
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Registered Office : |
855-1, Dunsan-ri, Bongdong-eup, Wanju-gun,
Jeollabuk-do, Korea 565-902 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
17.01.2008 |
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Com. Reg. No.: |
402-81-78800 |
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Legal Form : |
Co., Ltd by shares |
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Line of Business : |
Manufacture of Other Electric Motors, Generators and Transformers |
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No. of Employees : |
325 |
RATING & COMMENTS
|
MIRAs 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 30, 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 |
|
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 Information
|
Company
Name |
SOLARPARK KOREA CO., LTD. (Ex. Company Name : SOLAR WORLD KOREA CO., LTD., 솔라월드코리아(주)) (Ex. Company Name : SOLARPARK CO., LTD., 솔라파크(주)) (Korean Company Name : 솔라파크코리아(주)) |
|
Registered Address |
855-1, Dunsan-ri, Bongdong-eup, Wanju-gun,
Jeollabuk-do, Korea |
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Zip Code |
565-902 |
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Tel |
+82-63-710-3000 |
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Fax |
+82-63-710-3001 |
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E-mail |
delia.song@solarworld-korea.com |
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Website |
www.solarworld.de |
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Trading Address |
855-1, Dunsan-ri, Bongdong-eup, Wanju-gun,
Jeollabuk-do, Korea |
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Tel |
+82-63-710-3000 |
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Fax |
+82-63-710-3001 |
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Other Address-Branch |
16FL., Gangnam Finance Center, 737,
Yeoksam-dong, Gangnam-gu, Seoul, Korea |
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Tel |
+82-2-2112-1855 |
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Fax |
+82-2-2112-1849 |
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Type |
Export/Import |
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Industry |
Manufacture of Other Electric Motors, Generators and Transformers |
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Main Business |
Materials for Solar Battery
Module, Solar Power System, Solar Module,
Solar Power Plant |
|
Established (mm/dd/yyyy) |
04/17/2008 |
The Subject owns
the premises of registered HQ address.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Solar generators(26111607) |
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Sell |
Rechargeable batteries(26111701) |
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Sell |
Materials for Solar Power System |
CEOs
|
Name |
Park Hyun-Woo |
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Address |
Suite 201-203, 961, Mok-dong,
Yangcheon-gu, Seoul, Korea |
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Date of Birth |
09/05/1958 |
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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) |
46,475,000,000 |
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Employees |
325 |
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Formation |
Co., Ltd by shares Venture Business Foreign Direct Investment Corporation |
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Bank Details |
Shinhan Bank Deutsche Bank |
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Corporate Registered No. |
210111-0059983 |
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Business Registered No. |
402-81-78800 |
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Permit & Licenses |
Intl Trade No.: 30641932 |
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Shareholder Position |
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Company History |
04/17/2008 Incorporated as the present name 04/28/2008 Registered as a Foreign Direct
Investment Corporation 12/17/2009 Designated as a Venture Business 12/29/2008 Moved to the present HQ address
from 857-4, Seosin-dong, Wansan-gu, Jeonju-si, Jeonbuk, Korea 08/05/2009 Increased the authorized shares to 185,900,000 shares from
4,000,000 shares 08/07/2009 Increased capital to 46,475,000,000 KRW from 21,845,000,000
KRW 06/29/2011 Changed company name to SOLARPARK CO., LTD. 09/15/2011 Changed company name to SOLARPARK KOREA CO., LTD. |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Co-President & CEO |
Mr. |
Park Hyun-Woo |
Male |
Korean |
04/17/2008 |
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Co-President & CEO |
Mr. |
Joerg Walberer |
Male |
German |
04/17/2008 |
|
Director |
Mr. |
Lee Jong-Kook |
Male |
Korean |
04/20/2010 |
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Auditor |
Mr. |
Chae Ki-Sung |
Male |
Korean |
04/17/2008 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
543,656,648,361 |
212,492,862,648 |
17,517,095,191 |
|
|
2009 |
297,760,242,141 |
219,837,903,167 |
15,093,328,460 |
|
2008 |
5,989,830,000 |
74,898,853,500 |
-2,579,628,474 |
Financial Description
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Authorized Capital(KRW) |
1,859,000,000,000 |
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Paid-Up Capital(KRW) |
46,475,000,000 |
|
Total Issues Shares |
4,647,500 |
Balance
Sheet
|
Unit :
Korean Won |
As of 12/31/2009 |
As of 12/31/2008 |
As of 12/31/2007 |
|
Total Assets |
212,492,862,648 |
219,837,903,167 |
74,898,853,500 |
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Current
Assets |
143,971,566,568 |
170,702,794,554 |
52,157,151,156 |
|
-Quick Assets |
110,100,698,610 |
85,012,179,017 |
40,423,962,537 |
|
-Inventories |
33,870,867,958 |
85,690,615,537 |
11,733,188,619 |
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Fixed Assets |
68,521,296,080 |
49,135,108,613 |
22,741,702,344 |
|
-Investment |
329,675,700 |
351,268,000 |
222,580,000 |
|
-Tangibles |
67,402,659,811 |
48,146,214,912 |
22,165,460,295 |
|
-Intangibles |
635,562,794 |
609,606,409 |
353,662,049 |
|
-Others |
153,397,775 |
28,019,292 |
- |
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Total
Liabilities |
143,697,152,541 |
160,984,196,021 |
55,758,848,774 |
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Current
Liabilities |
132,173,707,273 |
143,040,960,960 |
30,758,848,774 |
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Fixed
Liabilities |
11,523,445,268 |
17,943,235,061 |
25,000,000,000 |
|
Capital Stock |
46,475,000,000 |
46,475,000,000 |
21,845,000,000 |
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Capital
Surplus |
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|
|
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Profit
Surplus |
22,349,138,107 |
12,513,699,986 |
-2,579,628,474 |
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Capital
Adjustment |
-28,428,000 |
-134,992,840 |
-125,366,800 |
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Total Equity |
68,795,710,107 |
58,853,707,146 |
19,140,004,726 |
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Liab. &
Shareholders Equity |
212,492,862,648 |
219,837,903,167 |
74,898,853,500 |
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Current
Liabilities |
132,173,707,273 |
143,040,960,960 |
30,758,848,774 |
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Trade Payables |
51,823,498,561 |
74,719,437,361 |
2,518,210,575 |
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Account Payables |
4,138,050,710 |
2,430,522,489 |
3,106,106,823 |
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Short-Term Borrowings |
62,155,065,090 |
22,067,000,000 |
3,143,750,000 |
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Current Portion of Long-Term Debts |
7,200,000,000 |
7,200,000,000 |
- |
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Accrued Expenses |
1,104,578,117 |
242,031,917 |
147,729,934 |
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Advance Receipts |
4,453,389,346 |
35,636,938,154 |
21,115,536,000 |
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Withholdings |
13,270,065 |
133,700,500 |
- |
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Interest Rate Swap |
|
|
593,694,575 |
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Accrued Income Tax |
1,285,855,384 |
611,330,539 |
- |
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Current Portion of Deferred Income Tax
Credit |
|
|
133,820,867 |
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Fixed
Liabilities |
11,523,445,268 |
17,943,235,061 |
25,000,000,000 |
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Provision for Severance & Retirement |
923,445,268 |
143,235,061 |
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Long-Term Borrowings |
10,600,000,000 |
17,800,000,000 |
25,000,000,000 |
Income
Statement
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
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Sales |
543,656,648,361 |
297,760,242,141 |
5,989,830,000 |
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Cost of Sold Goods |
512,024,103,055 |
275,303,727,154 |
7,258,718,537 |
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Gross Profit |
31,632,545,306 |
22,456,514,987 |
-1,268,888,537 |
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Selling & Admin. Expenses |
12,802,092,926 |
6,045,541,045 |
878,485,285 |
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Operating Income |
18,830,452,380 |
16,410,973,942 |
-2,147,373,822 |
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Non-Operating Income |
19,647,653,490 |
11,241,446,461 |
1,465,005,176 |
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Non-Operating Expenses |
19,681,227,107 |
11,687,136,424 |
2,712,119,418 |
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Income Before Taxes |
18,796,878,763 |
15,965,283,979 |
-3,394,488,064 |
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Income Taxes Expenses |
1,279,783,572 |
871,955,519 |
-814,859,590 |
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Net Income |
17,517,095,191 |
15,093,328,460 |
-2,579,628,474 |
Cash
Flows
|
Unit :
Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows
from Operating |
-10,995,528,732 |
-12,491,705,016 |
-17,216,577,787 |
|
-Net Income |
17,517,095,191 |
15,093,328,460 |
-2,579,628,474 |
|
-Exp.
without Cash Outflow |
7,920,265,307 |
6,210,830,556 |
774,334,192 |
|
-Revenue
without Cash Inflows |
-619,669,631 |
-573,077,943 |
- |
|
-Changes in
Asset/ & Liability |
-35,813,219,599 |
-33,222,786,089 |
-15,411,283,505 |
|
Cash Flows
from Investing |
-25,082,912,264 |
-29,994,499,814 |
-22,924,824,326 |
|
-Cash Inflow
from Investing |
22,300,130 |
1,774,535 |
- |
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-Cash
Outflows for Investing |
-25,105,212,394 |
-29,996,274,349 |
-22,924,824,326 |
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Cash Flows
from Financing |
25,336,035,259 |
43,543,623,960 |
49,863,383,200 |
|
-Cash Inflows
from Financing |
62,178,127,489 |
46,687,373,960 |
49,863,383,200 |
|
-Cash
Outflows from Financing |
-36,842,092,230 |
-3,143,750,000 |
- |
|
Increase/Decrease
in Cash |
-10,742,405,737 |
1,057,419,130 |
9,721,981,087 |
|
Cash at the Beginning
of Year |
10,779,400,217 |
9,721,981,087 |
- |
|
Cash at the
End of Year |
36,994,480 |
10,779,400,217 |
9,721,981,087 |
Products, Technologies, Services Description
|
Main Products & Services |
Materials for Solar Battery
Module, Solar Power System, Solar Module,
Solar Power Plant |
Trade Partners & Competitors
|
Customers |
SOLARWORLD AG(GERMANY) DEUTSCHE CELL GMBH, FREIBERG |
|
Competitors |
CONTRON CORPORATION RM. 210, DAERYUNG TECHNO TOWER 8-CHA, 481-11,
GASAN-DONG, GEUMCHEON-GU, SEOUL, KOREA TEL:+82-2-3218-5700 FAX:+82-2-517-9033 JOEUN ENERGY CO., LTD. 2ND FL., 628-2, AHYEON-DONG, MAPO-GU,
SEOUL, KOREA TEL:+82-2-393-6789 FAX:+82-2-393-8589 ETASOLAR LTD. BI-2103, GYEONGBUK TECHNO PARK POST, 300,
SAMPUNG-DONG, GYEONGSAN-SI, GYEONGSANGBUK-DO, KOREA TEL:+82-53-813-8501 FAX:+82-53-813-8502 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
SOLAR WORLD AG DEUTSCHE CELL GMBH, FREIBERG SOLAR FACTORY GMBH, FREIBERG SOLAR WORLD INDUSTRIES AMERICA INC.,
HILLSBORO SOLAR WORLD INDUSTRIES AMERICA LP,
CAMARILLO SOLAR WORLD ASIA PACIFIC PTE LTD.,
SINGAPORE SOLARPARK ME, SEOUL SOLARPARK CO., LTD.(121111-0156414) |
|
Corporate Ownership |
SOLARPARK CO., LTD.(121111-0156414) SOLARWORLD AG(GERMANY) |
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Major Shareholders |
SOLARPARK CO., LTD.(121111-0156414) SOLARWORLD AG(GERMANY) |
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Cooperative Enterprise |
SOLARWORLD AG MARTIN-LUTHER-KING-STR. 24, 53175 BONN
GERMANY TEL:+49-228-559 20 0 FAX:+49-228-559 20 99 -Insured Company SAMSUNG FIRE & MARINE INSURANCE CO., LTD.(110111-0005078) LIG INSURANCE CO., LTD.(110111-0017859) |
Sales by Region
(Activity &
Markets)
The Subject exports
to Germany and Norway.
Court Action
Not Available.
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 |
|
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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.