|
Report Date : |
17.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
HYUNDAI WELDING
CO., LTD. |
|
|
|
|
Registered Office : |
157-37, Samseong 1-dong, Gangnam-gu, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
03.09.1975 |
|
|
|
|
Com. Reg. No.: |
214-81-24202 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Manufacture of Other Fabricated and Processed Metal Products |
|
|
|
|
No. of Employees : |
714 |
RATING & COMMENTS
|
MIRA’s 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 – 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 |
HYUNDAI WELDING
CO., LTD. (Korean Company
Name : “현대종합금속(주)”) |
|
Registered Address |
157-37, Samseong 1-dong, Gangnam-gu, |
|
Building |
16th Fl., Ilsong Bldg. |
|
Zip Code |
135-880 |
|
Tel |
+82-2-6230-6010~2 |
|
Fax |
+82-2-598-6928 |
|
E-mail |
matthew@hyundaiwelding.com;grkim@hyundaiwelding.com |
|
Website |
www.hdweld.co.kr |
|
Trading Address |
16th Fl., Ilsong Bldg., 157-37, Samseong
1-dong, Gangnam-gu, |
|
Tel |
+82-2-6230-6010~2 |
|
Fax |
+82-2-598-6928 |
|
Other Address-Icheon Factory |
9-2, Saeum-dong, Icheon-si, |
|
Tel |
+82-31-636-3100 |
|
Fax |
+82-31-636-3957 |
|
Other Address-Pohang Factory |
90-5, |
|
Tel |
+82-54-289-6214 |
|
Fax |
+82-54-286-6275 |
|
Other Address-Ulsan Office |
843-2, Hyomun-dong, Buk-gu, |
|
Tel |
+82-52-276-1063 |
|
Other Address-Geoje Office |
1058-8, Mujeon-dong, Tongyeong-si, |
|
Tel |
+82-55-688-5812 |
|
Other Address-Daegu Office |
1st Fl., Samwon Bldg., 414-3,
Manchon-dong, Suseong-gu, |
|
Tel |
+82-53-751-7071 |
|
Other Address-Daejeon Branch |
254-23, Daehwa-dong, Daedeok-gu, |
|
Tel |
+82-42-635-2240 |
|
Other Address-Mokpo Branch |
1685-44, Nanjeon-ri, Samho-eup,
Yeongam-gun, |
|
Tel |
+82-61-462-9984 |
|
Fax |
+82-61-462-9985 |
|
Other Address-Busan Office |
234-9, Hakjang-dong, Sasang-gu, |
|
Tel |
+82-51-802-1124 |
|
Fax |
+82-51-802-4445 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Other Fabricated and Processed Metal Products n.e.c |
|
Main
Business |
Welding Electrodes, Micro Plasma Welding Machines, Solid Wire, Welders |
|
Established (mm/dd/yyyy) |
09/03/1975 |
The Subject owns
the premises of Pohang Factory.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Welders(23171508) |
|
Sell |
Welding rods(23171512) |
|
Sell |
Welding wire(23171510) |
|
Name |
Kim Sang-Wook |
|
Address |
Suite 102-1701, 1607, Jangseong-dong,
Buk-gu, Pohang-si, |
|
Date of Birth |
11/13/1951 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
5,000,000,000 |
||||||||||||
|
Employees |
714 |
||||||||||||
|
Formation |
Co., Ltd by shares |
||||||||||||
|
Bank Details |
Woori Bank Kookmin Bank Shinhan Bank-Seocho Branch Korea Exchange Bank Korea Development Bank |
||||||||||||
|
Corporate Registered No. |
110111-0185193 |
||||||||||||
|
Business Registered No. |
214-81-24202 |
||||||||||||
|
Permit & Licenses |
02/1995 ISO 9002 by LRQA 12/16/1998 ISO 9001 01/09/2000 KS Mark Int’l Trade No.: 771535 |
||||||||||||
|
Shareholder Position |
|
||||||||||||
|
Company History |
09/03/1975 Incorporated as SEOHAN
DEVELOPMENT CO., LTD. 08/1976 Completed calcium carbide factory
in Danyang 01/1977 Completed electrode plant in 05/1978 Established new submerged wire
production facilities 09/1978 Established new solid wire production
facilities 09/1978 Established a technical tie with
Sweden ESAB Corporation and imported submerged arc welding flux production
technology 12/1980 Initiated submerged arc welding
flux production 01/1984 Produced low fume electrode for the
first time in 02/1986 Certified by Japanese Industrial
Standard Marking Institute 01/1987 Changed a company name as HYUNDAI
WELDING CO., LTD. 09/1989 Initiated metal stamping business 10/1989 Established HYUNDAI WELDING JAPAN
CO., LTD in 01/1994 Established HYUNDAI WELDING
(S'PORE) PTE., LTD. 02/1994 Established a technical tie with
OERLIKON Corporation in 02/1995 Obtained ISO 9002 certificate (LRQA
Certificate No. 941752) 03/1995 Established SUNGWOO PRECISION CO.,
LTD. 09/1995 Expanded electrode production
facilities in 09/1995 Expanded solid wire production
facilities in 04/1996 Expanded flux cored wire production
facilities in 06/1996 Established H.W.M.C. Malaysia SDN.
BHD. 12/1996 Established HYUNDAI WELDING ( 02/1997 Established HYUNDAI WELDING
PRODUCTS. INC( 04/1997 Completed SUNGWOO PRECISION factory
in Echeon 09/1997 HYUNDAI WELDING COMPANY(Australia) 10/1997 HYUNDAI WELDING PRODUCTS S.A.(South
Africa) 12/1997 Established R&D Center in
Pohang 07/1999 Acknowledged Pohang R&D Center
(attached) by Korea Industrial Technology Association (No. 991626) 04/2001 Merged with SUNGWOO PRECISION CO.,
LTD. 08/2001 Acknowledged Echeon R&D Center
(attached) by Korea Industrial Technology Association (No. 20012522) 06/27/2002 Moved to the present HQ address
from 1424-2, Seocho-dong, Seocho-gu, Seoul, Korea |
||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Kim Sang-Wook |
Male |
Korean |
09/01/2004 |
|
Director |
Mr. |
Chung Mong-Seok |
Male |
Korean |
03/27/1994 |
|
Director |
M/S. |
Ahn Jung-Hae |
Female |
Korean |
03/02/2001 |
|
Auditor |
Mr. |
Chung Eun-Sung |
Male |
Korean |
05/17/2006 |
|
Supervisor |
Mr. |
Baik Seung-Kyu |
Male |
Korean |
07/25/2005 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
545,268,226,871 |
610,639,932,648 |
26,301,083,161 |
|
|
2010 |
445,648,249,227 |
686,742,041,457 |
38,543,193,053 |
|
2009 |
421,937,456,557 |
460,915,154,484 |
11,701,234,546 |
|
2008 |
437,744,162,775 |
485,294,417,416 |
23,453,778,693 |
|
2007 |
285,857,919,177 |
539,400,902,009 |
6,278,432,406 |
|
2006 |
252,160,909,997 |
249,618,871,528 |
8,192,521,619 |
|
2005 |
210,033,997,791 |
215,391,401,107 |
7,982,015,743 |
|
2004 |
177,272,417,896 |
150,849,303,237 |
8,637,465,594 |
Financial Description
|
Authorized Capital(KRW) |
6,000,000,000 |
|
Paid-Up Capital(KRW) |
5,000,000,000 |
|
Total Issued Shares |
1,000,000 |
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Total Assets |
610,639,932,648 |
686,742,041,457 |
460,915,154,484 |
|
Current Assets |
248,710,196,330 |
194,713,870,032 |
167,609,914,719 |
|
-Quick Assets |
158,947,554,573 |
121,511,376,772 |
101,936,648,689 |
|
-Inventories |
89,762,641,757 |
73,202,493,260 |
65,673,266,030 |
|
Fixed Assets |
361,929,736,318 |
492,028,171,425 |
293,305,239,765 |
|
-Investment |
267,105,694,185 |
411,379,284,664 |
208,490,340,459 |
|
-Tangibles |
86,890,568,543 |
71,299,511,998 |
74,484,451,301 |
|
-Intangibles |
56,671,057 |
79,550,281 |
91,486,890 |
|
-Others |
7,876,802,533 |
9,269,824,482 |
10,238,961,115 |
|
Total Liabilities |
366,014,212,930 |
301,068,180,178 |
243,367,932,390 |
|
Current Liabilities |
281,045,036,915 |
217,556,753,883 |
192,050,303,705 |
|
Fixed Liabilities |
84,969,176,015 |
83,511,426,295 |
51,317,628,685 |
|
Capital Stock |
5,000,000,000 |
5,000,000,000 |
5,000,000,000 |
|
Capital Surplus |
21,040,769,949 |
21,040,769,949 |
21,040,769,949 |
|
Profit Surplus |
77,652,952,871 |
101,351,869,710 |
92,808,676,657 |
|
Capital Adjustment |
140,931,996,898 |
258,281,221,620 |
98,697,775,488 |
|
Total Equity |
244,625,719,718 |
385,673,861,279 |
217,547,222,094 |
|
Liab. & Shareholder’s Equity |
610,639,932,648 |
686,742,041,457 |
460,915,154,484 |
|
Current
Liabilities |
281,045,036,915 |
217,556,753,883 |
192,050,303,705 |
|
Trade Payables |
60,865,906,062 |
52,610,104,277 |
44,722,393,710 |
|
Short-Term Borrowings |
178,731,923,500 |
124,851,645,078 |
134,466,774,510 |
|
Current Portion of Long-Term Debts |
7,558,327,500 |
20,053,797,800 |
49,763,700 |
|
Account Payables |
13,767,160,881 |
6,620,877,005 |
8,480,053,178 |
|
Advance Receipts |
172,976,399 |
418,701,152 |
477,615,913 |
|
Withholdings |
1,233,793,431 |
1,179,557,577 |
1,266,796,027 |
|
Accrued Expenses |
4,244,402,437 |
2,391,181,382 |
2,161,476,288 |
|
Guarantee Deposit Withhold |
55,000,000 |
105,000,000 |
100,000,000 |
|
Accrued Income Tax |
14,415,546,705 |
9,325,889,612 |
325,430,379 |
|
Fixed Liabilities |
84,969,176,015 |
83,511,426,295 |
51,317,628,685 |
|
Debentures |
20,000,000,000 |
5,000,000,000 |
- |
|
Long-Term Borrowings |
19,541,850,700 |
300,178,200 |
17,753,614,800 |
|
Provision for Severance & Retirement |
9,793,865,617 |
7,981,443,924 |
8,130,450,044 |
|
Long-Term
Account Payables |
207,638,710 |
108,000,000 |
- |
|
Deferred Income Tax Credit |
45,219,686,605 |
77,268,279,888 |
31,129,753,143 |
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Sales |
545,268,226,871 |
445,648,249,227 |
421,937,456,557 |
|
Cost of Sold Goods |
454,561,339,505 |
375,658,186,587 |
365,588,154,231 |
|
Gross Profit |
90,706,887,366 |
69,990,062,640 |
56,349,302,326 |
|
Selling & Admin. Expenses |
45,394,459,590 |
50,235,355,920 |
39,741,377,605 |
|
Operating Income |
45,312,427,776 |
19,754,706,720 |
16,607,924,721 |
|
Non-Operating Income |
21,887,636,657 |
47,687,429,729 |
19,740,267,288 |
|
Non-Operating Expenses |
22,002,985,942 |
16,434,719,588 |
20,386,638,828 |
|
Income Before Taxes |
45,197,078,491 |
51,007,416,861 |
15,961,553,181 |
|
Income Taxes Expenses |
18,895,995,330 |
12,464,223,808 |
4,260,318,635 |
|
Net Income |
26,301,083,161 |
38,543,193,053 |
11,701,234,546 |
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Cash Flows from Operating |
766,876,464 |
2,830,456,760 |
-177,207,880 |
|
-Net Income |
26,301,083,161 |
38,543,193,053 |
11,701,234,546 |
|
-Exp. without Cash Outflow |
15,945,686,582 |
15,069,885,683 |
15,816,505,789 |
|
-Revenue without Cash Inflows |
-7,229,793,544 |
-38,128,058,248 |
-6,198,479,147 |
|
-Changes in Asset/ & Liability |
-34,250,099,735 |
-12,654,563,728 |
-21,496,469,068 |
|
Cash Flows from Investing |
-24,119,948,233 |
33,816,022,295 |
-48,404,509,175 |
|
-Cash Inflow from Investing |
3,465,862,629 |
75,708,027,523 |
2,479,571,837 |
|
-Cash Outflows for Investing |
-27,585,810,862 |
-41,892,005,228 |
-50,884,081,012 |
|
Cash Flows from Financing |
25,626,480,622 |
-32,064,531,932 |
43,373,888,510 |
|
-Cash Inflows from Financing |
455,998,762,072 |
7,600,000,000 |
43,419,024,510 |
|
-Cash Outflows from Financing |
-430,372,281,450 |
-39,664,531,932 |
-45,136,000 |
|
Increase/Decrease in Cash |
2,273,408,853 |
4,581,947,123 |
-5,207,828,545 |
|
Cash at the Beginning of Year |
25,746,300,811 |
21,164,353,688 |
26,372,182,233 |
|
Cash at the End of Year |
28,019,709,664 |
25,746,300,811 |
21,164,353,688 |
Products, Technologies,
Services Description
|
Main Products & Services |
Welding Consumables -Covered Electrodes -Submerged Flux & Wire -Solid Wire -FCW -MIG/TIG Welding Machines -TIG DC ARC Air Plasma Cutter |
|
Competitors |
KISWEL CO., LTD. 721-3, HAKJANG-DONG, SASANG-GU, BUSAN,
KOREA TEL:+82-51-317-3131~40 FAX:+82-51-325-3627 CHOSUN WELDING CO., LTD. 865, JANGHEUNG-DONG, NAM-GU, POHANG-SI,
GYEONGSANGBUK-DO, KOREA TEL:+82-54-285-8221 FAX:+82-54-285-8543 CHEGIM WELDING CO., LTD. 42-499, IHYEON-DONG, SEO-GU, DAEGU, KOREA TEL:+82-53-250-0600 FAX:+82-53-256-8117 |
|
Affiliates |
POSCO(174611-0000741) POSCO SPECIALTY STEEL CO., LTD.(194211-0025248) |
|
Overseas Office |
NETHERLANDS HYUNDAI WELDING EUROPE, ROTTERDAM COLUMBUSSTRAAT 25 / HARBOUMO, 2769 3165 AC
ROTERDAM-ALBRANDSWAARD TEL:+31-10-4945788 FAX:+31-10-4945778 TURKEY HYUNDAI WELDING TURKEY, ISTANBUL SAHIL YOLU CADDESI DENIZCILER LS MERKEZI NO.
25 /31/ TUZLA-ISTANBUL, TURKEY TEL:+90-216-494-4740 FAX:+90-216-493-5527 JAPAN(TOKYO) HYUNDAI WELDING JAPAN CO., LTD. (TOKYO) 8TH FL., YURAKUCHO DENKI BLDG., 1-7-1,
YURAKUCHO, CHITODA-KU, TOKYO, JAPAN TEL:+81-3-5220-3529 FAX:+81-3-5220-3549 CHINA(SHANGHAI) HYUNDAI WELDING CO., LTD.(SHANGHAI OFFICE) RM. D805, SHANGAHI EVERBRIGHT EXHIBITION
CENTER, CAO BAO ROAD, SHANGHAI, CHINA TEL:+86-021-6432-5920 FAX:+86-021-6408-2554 INDIA(MUMBAI) MUMBAI OFFICE 5/7, SAMARTH NAGAR, CHUNABHATTI(EAST),
MUMBAI-400 022 INDIA TEL:+91-98204-77953 VIETNAM HYUNDAI WELDING VIETNAM, HANOI RM. 103B, BLDG., 14-16, HAM LONG STREET
PHAN CHU TINH WARD, HOAN KIEM DISTRICT HANOI, VIETNAM TEL:+84-903-2919 FAX:+84-4-799-301 THAILAND HYUNDAI WELDING THAILAND, BANGKOK REGUS Q HOUSE LUMPINI CENTER, 1, SOUTH
SATHOM ROAD, 27/F., TUNGMAHAMEK, SATHORN, BANGKOK 10120 TEL:+66-934-3234 SINGAPORE HYUNDAI WELDING(S'PORE) PTE LTD. 21 JALAN BUROH #04-02 LOGISTICS 21,
SINGAPORE 619478 TEL:+65-6863-3218 FAX:+65-6863-3225 UNITED STATE HYUNDAI WELDING PRODUCTS 215, SATELLITE BOULEVARD SUITE 300,
ATALNTA, GA 30024 USA TEL:+1-770-614-7577 FAX:+1-770-614-6636 |
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
|
|
Subsidiary |
HYUNDAI WELDING(S'PORE) PTE LTD. (100.0% held by the subject company) HYUNDAI WELDING(MALAYSIA) PTE LTD. (100.0% held by the subject company) HYUNDAI WELDING PRODUCTS(USA) (100.0% held by the subject company) SUPERTECH METAL(KONSAN) CO., LTD.(CHINA) (100.0% held by the subject company) HYUNDAI WELDING JAPAN CO., LTD. (100.0% held by the subject company) HYUNDAIWELDING VINA CO., LTD. |
|
Cooperative Enterprise |
-Insured Company HYUNDAI MARINE & FIRE INSURANCE CO., LTD.(110111-0035893) |
The Subject exports
to Europe, Asia and North America.
No.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.92 |
|
|
1 |
Rs.85.47 |
|
Euro |
1 |
Rs.67.15 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.