|
Report Date : |
11.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
LAFARGE HALLA CEMENT CORPORATION |
|
|
|
|
Formerly Known As : |
RH Cement Co.,
Ltd. |
|
|
|
|
Registered Office : |
280-1, Sangye-ri, Okgye-myeon, Gangneung-si, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
27.10.1998 |
|
|
|
|
Com. Reg. No.: |
226-81-22191 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Manufacturer of Cement |
|
|
|
|
No. of Employees : |
502 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow |
|
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Company Name |
LAFARGE HALLA
CEMENT CORPORATION (Korean Company
Name : “라파즈한라시멘트(주)”) |
|
Registered
Address |
280-1, Sangye-ri, Okgye-myeon,
Gangneung-si, |
|
Zip Code |
210-834 |
|
Tel |
+82-33-534-1000 |
|
Fax |
+82-33-534-0716 |
|
E-mail |
|
|
Website |
|
|
Trading Address |
4th Fl., Rosedale Officetel, 724,
Suseo-dong, Gangnam-gu, |
|
Tel |
+82-2-6902-3200 |
|
Fax |
+82-2-6902-3292 |
|
Other Address-Singi Factory |
23, Anui-ri, Singi-myeon, Samcheok-si, |
|
Tel |
+82-33-540-0312 |
|
Fax |
+82-33-540-0319 |
|
Other Address-Gwangyang Factory |
1659-3, Taein-dong, Gwangyang-si, |
|
Tel |
+82-61-792-8291 |
|
Fax |
+82-61-792-8290 |
|
Other Address-Pohang Factory |
140-10, |
|
Tel |
+82-54-285-1751~3 |
|
Fax |
+82-54-285-1930 |
|
Other Address-Icheon Office |
358-4, Huan-ri, Hobeop-myeon, Icheon-si, |
|
Tel |
+82-31-632-3286 |
|
Fax |
+82-31-632-3287 |
|
Other Address-Maepo Office |
374-4, Noho-ri, Buyong-myeon, Cheongwon-gun, |
|
Tel |
+82-43-269-2153 |
|
Fax |
+82-43-269-2852 |
|
Other Address-Samho Office |
1237-8, Sampo-ri, Samho-eup, Yeongam-gun, |
|
Tel |
+82-61-461-1415 |
|
Fax |
+82-61-461-1692 |
|
Other Address-Janghang Branch |
420-2, Sinchang-ri, Janghang-eup,
Seocheon-gun, |
|
Tel |
+82-41-956-7235 |
|
Fax |
+82-41-956-7237 |
|
Other Address-Uiwang Office |
71-3, I-dong, Uiwang-si, Gyeonggi-do, |
|
Tel |
+82-31-461-4288 |
|
Fax |
+82-31-461-4971 |
|
Other Address-Eumseong Office |
785-1,
Pyeonggok 1-ri, Eumseong-eup, Eumseong-gun, |
|
Tel |
+82-43-872-4695 |
|
Fax |
+82-43-872-1937 |
|
Other Address-Jeju Office |
1007, Sangdae-ri, Hallim-eub, Jeju-si, |
|
Tel |
+82-64-796-7270 |
|
Fax |
+82-64-796-7290 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Cement |
|
Main Business |
Cement, Clinker |
|
Established
(mm/dd/yyyy) |
10/27/1998 |
The Subject owns
the premises of registered HQ address, Singi Factory, Gwangyang Factory, Maepo
Office and Samho Office.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Cement(30111601) |
|
Name |
Michel Puchercos |
|
Address |
4th Fl., Rosedale Officetel, 724, Suseo-dong, Gangnam-gu, |
|
Date of Birth |
10/02/1957 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
French |
|
Capital (KRW) |
221,737,035,000 |
|||||||||||||||||||||||||||
|
Employees |
502 |
|||||||||||||||||||||||||||
|
Formation |
Co., Ltd by shares Foreign Direct Investment Corporation |
|||||||||||||||||||||||||||
|
Bank Details |
Shinhan Bank Korea Exchange Bank Woori Bank |
|||||||||||||||||||||||||||
|
Corporate Registered No. |
141111-0012331 |
|||||||||||||||||||||||||||
|
Business Registered No. |
226-81-22191 |
|||||||||||||||||||||||||||
|
Permit & Licenses |
11/2002 ISO 14001 Int’l Trade No.: 404486 |
|||||||||||||||||||||||||||
|
Shareholder Position |
|
|||||||||||||||||||||||||||
|
Company History |
10/27/1998 Incorporated as RH Cement Co.,
Ltd. 12/1998 Acquired Cement Business from Halla
Cement Co., Ltd. 01/14/2000 Changed company name to the present name 01/25/2000 Registered as a Foreign Direct
Investment Corporation 05/07/2004 Decreased capital to
221,737,035,000 KRW from 226,460,000,000 KRW |
|||||||||||||||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Michel Puchercos |
Male |
Korean |
01/29/2009 |
|
Director |
Mr. |
Silvang Garno |
Male |
French |
03/30/2012 |
|
Director |
Mr. |
Fredrick Viyon |
Male |
French |
03/30/2012 |
|
Director |
Mr. |
Wig Bacel Donbreval |
Male |
French |
03/30/2012 |
|
Director |
Mr. |
Pablichio Olivares |
Male |
French |
03/30/2012 |
|
Auditor |
M/S. |
Lee Hee-Sook |
Female |
Korean |
03/29/2009 |
Mr. Michel Puchercos
-Ecole Polytechnique (1976)
-Ecole Nationale du Genie Rural, des Eaux et des Forets
(National School of Rural Engineering, Waterways and Forests) (1981)
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
85,460,605,716 |
494,236,437,401 |
-5,492,022,609 |
|
|
2011 |
375,594,489,526 |
500,547,979,422 |
-28,757,135,986 |
|
2010 |
345,480,312,226 |
507,250,215,002 |
-14,920,340,319 |
|
2009 |
394,324,503,241 |
424,468,027,658 |
-13,504,758,194 |
|
2008 |
364,298,220,254 |
483,801,781,406 |
-9,746,864,525 |
|
2007 |
335,172,949,511 |
477,122,509,000 |
-11,378,798,726 |
|
2006 |
342,586,712,387 |
469,445,093,908 |
-2,973,565,869 |
|
Authorized Capital(KRW) |
250,000,000,000 |
|
Paid-Up Capital(KRW) |
221,737,035,000 |
|
Total Issued Shares |
44,347,407 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
01/01/2012~03/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Total Assets |
494,236,437,401 |
500,547,979,422 |
507,250,215,002 |
|
Current Assets |
136,148,376,436 |
137,708,453,730 |
136,542,111,773 |
|
-Quick Assets |
86,439,784,229 |
100,965,664,334 |
97,955,088,610 |
|
-Inventories |
49,708,592,207 |
36,742,789,396 |
38,587,023,163 |
|
Fixed Assets |
358,088,060,965 |
362,839,525,692 |
370,708,103,229 |
|
-Investment |
6,135,694,195 |
8,373,507,410 |
5,987,761,650 |
|
-Tangibles |
311,515,760,211 |
313,934,926,960 |
324,139,232,601 |
|
-Intangibles |
36,009,779,684 |
36,259,166,568 |
37,436,402,354 |
|
-Others |
4,426,826,875 |
4,271,924,754 |
3,144,706,624 |
|
Total Liabilities |
170,738,318,906 |
171,566,115,871 |
148,482,971,187 |
|
Current Liabilities |
106,395,060,057 |
105,231,911,049 |
74,859,806,896 |
|
Fixed Liabilities |
64,343,258,849 |
66,334,204,822 |
73,623,164,291 |
|
Capital Stock |
221,737,035,000 |
221,737,035,000 |
221,737,035,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
28,692,227,634 |
34,184,250,243 |
62,941,386,229 |
|
Capital Adjustment |
73,068,855,861 |
73,060,578,308 |
74,088,822,586 |
|
Total Equity |
323,498,118,495 |
328,981,863,551 |
358,767,243,815 |
|
Liab. & Shareholder’s Equity |
494,236,437,401 |
500,547,979,422 |
507,250,215,002 |
|
Current Liabilities |
106,395,060,057 |
105,231,911,049 |
74,859,806,896 |
|
Trade Payables |
48,633,882,010 |
49,401,749,991 |
33,857,468,269 |
|
Short-Term Borrowings |
8,522,217,958 |
|
|
|
Account Payables |
35,327,767,288 |
41,060,336,654 |
30,203,170,265 |
|
Advance Receipts |
1,121,642,811 |
2,758,119,082 |
2,290,679,338 |
|
Withholdings |
1,607,603,292 |
1,222,454,543 |
711,402,241 |
|
Unearned Income |
793,581,838 |
217,161,621 |
201,241,441 |
|
Accrued Expenses |
3,053,935,573 |
3,235,773,008 |
1,803,114,414 |
|
Accrued Dividends |
685,660 |
685,660 |
685,660 |
|
Current Portion of Long-Term
Debts |
4,992,614,500 |
5,025,209,500 |
5,007,539,500 |
|
Current Portion of Long-Term
Lease Debts |
877,550,189 |
858,097,821 |
784,505,768 |
|
Accrued Income Tax |
1,452,323,169 |
1,452,323,169 |
|
|
Derivatives |
11,255,769 |
|
|
|
Fixed
Liabilities |
64,343,258,849 |
66,334,204,822 |
73,623,164,291 |
|
Long-Term Borrowings |
8,956,024,500 |
10,187,686,000 |
15,192,695,500 |
|
Provision for Severance &
Retirement |
29,850,458,745 |
29,525,105,659 |
33,298,619,321 |
|
Other Provisions |
10,227,294,771 |
9,950,641,681 |
9,087,075,646 |
|
Leasehold Deposit Received |
419,458,120 |
416,958,120 |
399,278,590 |
|
Guarantee Deposit |
983,700,000 |
983,700,000 |
1,023,700,000 |
|
Deferred Income Tax Credit |
4,321,678,932 |
5,475,350,951 |
4,080,604,302 |
|
Long-Term Lease Debts |
9,920,696,081 |
10,147,514,511 |
11,005,612,332 |
Income
Statement
|
|||
|
Unit : Korean Won |
01/01/2012~03/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Sales |
85,460,605,716 |
375,594,489,526 |
345,480,312,226 |
|
Cost of Sold Goods |
85,118,595,400 |
359,393,461,568 |
327,345,400,231 |
|
Gross Profit |
342,010,316 |
16,201,027,958 |
18,134,911,995 |
|
Selling & Admin. Expenses |
7,269,745,932 |
38,211,816,416 |
36,232,830,857 |
|
Operating Income |
-6,927,735,616 |
-22,010,788,458 |
-18,097,918,862 |
|
Non-Operating Income |
1,777,687,179 |
6,415,075,782 |
30,061,044,065 |
|
Non-Operating Expenses |
1,869,007,703 |
11,801,865,035 |
21,836,089,748 |
|
Income Before Taxes |
-7,019,056,140 |
-27,397,577,711 |
-9,872,964,545 |
|
Income Taxes Expenses |
-1,527,033,531 |
1,359,558,275 |
5,047,375,774 |
|
Net Income |
-5,492,022,609 |
-28,757,135,986 |
-14,920,340,319 |
Cash
Flows
|
|||
|
Unit : Korean Won |
01/01/2012~03/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Cash Flows from Operating |
-17,233,128,729 |
19,167,583,674 |
17,827,558,677 |
|
-Net Income |
-5,492,022,609 |
-28,757,135,986 |
-14,920,340,319 |
|
-Exp. without Cash Outflow |
6,602,235,555 |
32,330,104,182 |
43,778,584,719 |
|
-Revenue without Cash Inflows |
-26,119,403 |
-1,881,824,425 |
-26,243,374,025 |
|
-Changes in Asset/ & Liability |
-18,317,222,272 |
17,476,439,903 |
15,212,688,302 |
|
Cash Flows from Investing |
-2,313,722,371 |
-13,392,896,315 |
-7,010,358,295 |
|
-Cash Inflow from Investing |
313,198,768 |
5,385,118,823 |
9,732,028,378 |
|
-Cash Outflows for Investing |
-2,626,921,139 |
-18,778,015,138 |
-16,742,386,673 |
|
Cash Flows from Financing |
7,050,595,396 |
-6,801,118,860 |
-4,061,834,554 |
|
-Cash Inflows from Financing |
8,522,217,958 |
|
1,297,000,000 |
|
-Cash Outflows from Financing |
-1,471,622,562 |
-6,801,118,860 |
-5,358,834,554 |
|
Increase/Decrease in Cash |
-12,496,255,704 |
-1,026,431,501 |
6,755,365,828 |
|
Cash at the Beginning of Year |
18,751,443,658 |
19,777,875,159 |
13,022,509,331 |
|
Cash at the End of Year |
6,255,187,954 |
18,751,443,658 |
19,777,875,159 |
|
Main Products & Services |
Cement, Clinker |
|
Suppliers |
HYUNDAI OIL REFINERY CO., LTD.(110111-0090558) NAMHAE CHEMICAL CORPORATION(110111-0164717) OXBOW |
|
Competitors |
SSANGYONG CEMENT INDUSTRIAL CO., LTD. SSANG-YONG BLDG., 24-1, JEODONG 2-GA,
JUNG-GU, TEL:+82-2-2270-5114 FAX:+82-2-2275-7040 HANIL CEMENT CO., LTD. 15TH FL., UDEOK BLDG., 832-2, YEOKSAM
1-DONG, GANGNAM-GU, TEL:+82-2-531-7000 FAX:+82-2-531-7113 TONG YANG CEMENT CORPORATION ALPHA BLDG., 70, SEORIN-DONG, JONGNO-GU, TEL:+82-2-3770-3000 FAX:+82-2-3770-3305 |
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
LAFARGE LAKO LTD.(141111-0027009) POSFINE CO., LTD.(204611-0030668) CEMENTIA TRADING CO. LAFARGE LAFARGE CEMENT LIMITED LIABLITY COMPANY LAFARGE SHUI ON( LAFARGE SURMA CEMENT MALAYAN CEMENT BERHAD PT.SEMEN ANDALAS |
|
Corporate Ownership |
LAFARGE FINANCIERE LAFARGE |
|
Cooperative |
-Franchise Agreement with LAFARGE -Insured Company HYUNDAIMARINE&FIREINSURANCECO.,LTD.(110111-0035893) SAMSUNG FIRE & MARINE INSURANCE CO., LTD.(110111-0005078) |
(Activity & Markets)
|
Sales/ Unit :Mil KRW |
03/2012 |
2011 |
2010 |
|
Export |
12,931 |
17,999 |
67,945 |
|
Domestic |
72,530 |
50,284 |
307,649 |
|
Total |
85,461 |
68,283 |
375,594 |
The Subject deals
with the companies in
No.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.81 |
|
|
1 |
Rs.86.53 |
|
Euro |
1 |
Rs.68.58 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.