|
Report Date : |
26.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
JMC CORPORATION |
|
|
|
|
Formerly Known As : |
Shinwon Chemicals Co., Ltd. |
|
|
|
|
Registered Office : |
125, Hwasan-ri, Onsan-eup, Ulju-gun, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
29.03.1991 |
|
|
|
|
Com. Reg. No.: |
610-81-11996 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Manufacture of Other Basic Organic Chemicals |
|
|
|
|
No. of Employees : |
178 |
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 : |
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 |
JMC CORPORATION (Korean Company Name : “(주)제이엠씨”) |
|
Registered Address |
125, Hwasan-ri, Onsan-eup, Ulju-gun, |
|
Zip Code |
689-896 |
|
Tel |
+82-52-231-5757 |
|
Fax |
+82-52-238-9210 |
|
E-mail |
|
|
Website |
|
|
Trading Address |
252-2, Yeomchang-dong, Gangseo-gu, |
|
Tel |
+82-2-3660-8554 |
|
Fax |
+82-2-752-4791 |
|
Other Address |
9, Ijin-ri, Onsan-eup, Ulju-gun, |
|
Tel |
+82-52-239-7320 |
|
Fax |
+82-52-239-7321 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Other Basic Organic Chemicals |
|
Main Business |
para Toluenesulfonyl Chloride, para Toluenesulfonamide, Sodium
Saccharin, Insoluble Saccharin, Sodium Saccharin Spray Dried, Calcium
Saccharin Spray Dried, Sodium Para Toluenesulfinate, N-Acetyl Sulfanilyl
Chloride, Sulfanilic Acid, Acetanilide |
|
Established (mm/dd/yyyy) |
03/29/1991 |
The Subject owns
the premises of registered HQ address/Factory.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Organic halogenated compounds(12352101) |
|
Sell |
Sulfonamides(12162004) |
|
Sell |
Inorganic acids(12352301) |
|
Sell |
Sweeteners(12164504) |
|
Sell |
Aromatic or heterocyclic compounds(12352005) |
|
Sell |
Inorganic metal salts(12352302) |
|
Sell |
Potassic fertilizer(10171602) |
|
Sell |
Esters or its substitutes(12352108) |
|
Sell |
Aromatic or heterocyclic compounds(12352005) |
|
Sell |
Organic derivatives and substituted
compounds(12352100) |
|
Name |
Hur David Jungsun |
|
Address |
|
|
Date of Birth |
08/24/1953 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
3,990,000,000 |
|||||||||||||||
|
Employees |
178 |
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|
Formation |
Co., Ltd by shares |
|||||||||||||||
|
Bank Details |
Korea Exchange Bank-Kangseo Branch Woori Bank-Ulsan Central Branch Citi Hana Bank |
|||||||||||||||
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Corporate Registered No. |
181211-0015814 |
|||||||||||||||
|
Business Registered No. |
610-81-11996 |
|||||||||||||||
|
Permit & Licenses |
06/1997 ISO9002:1994 system approval from
BVQI 2003 ISO 9001 system approval from BVQI 2005 ISO 14001:2004 and OHSAS 18001:1999
system approval from BVQI Int’l Trade No.: 17100902 |
|||||||||||||||
|
Shareholder Position |
|
|||||||||||||||
|
Company History |
03/29/1991
Incorporated as Shinwon Chemicals Co., Ltd. 04/24/2002
Changed company name to the present name 09/25/2003 Increased capital to 1,900,000,000
KRW from 900,000,000 KRW 11/2004 Awarded US$20 Million Export Top
Prize 12/08/2004 Increased capital to
3,800,000,000 KRW from 1,900,000,000 KRW 08/19/2008 Increased the authorized shares
to 50,000,000 shares from 10,000,000 shares 08/19/2008 Spin off the par value to 5,000
KRW from 500 KRW 06/27/2009 Increased capital to
3,990,000,000 KRW from 3,800,000,000 KRW |
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Hur David Jungsun |
Male |
|
12/31/2009 |
|
Director |
Mr. |
Cho Sung-Yong |
Male |
Korean |
05/10/2008 |
|
Director |
Mr. |
Lee Hee-Bok |
Male |
Korean |
06/29/2009 |
|
Director |
Mr. |
Kim Dong-Kil |
Male |
Korean |
02/19/2010 |
|
Director |
Mr. |
Kim Heung-Joon |
Male |
Korean |
02/19/2010 |
|
Auditor |
Mr. |
Park Joon-Young |
Male |
Korean |
02/19/2010 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
62,253,368,907 |
75,078,814,501 |
3,655,383,739 |
|
|
2010 |
61,082,238,260 |
72,508,891,810 |
5,416,767,147 |
|
2009 |
66,854,101,538 |
68,707,209,206 |
14,795,215,368 |
|
2008 |
92,648,096,877 |
57,543,478,761 |
25,187,769,115 |
|
2007 |
41,196,360,048 |
28,856,454,100 |
561,508,104 |
|
2006 |
34,684,794,872 |
28,523,786,598 |
(-)383,356,268 |
|
2005 |
33,951,111,709 |
26,338,737,056 |
1,213,863,369 |
|
2004 |
33,607,423,073 |
24,267,344,088 |
1,354,001,443 |
|
2003 |
39,500,291,506 |
28,701,635,847 |
184,212,790 |
|
Authorized Capital(KRW) |
50,000,000,000 |
|
Paid-Up Capital(KRW) |
3, 990,000,000 |
|
Total Issues Shares |
7,980,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Total Assets |
75,078,814,501 |
72,508,891,810 |
68,707,209,206 |
|
Current Assets |
30,444,007,616 |
29,674,424,564 |
28,697,651,750 |
|
-Quick Assets |
13,363,420,666 |
15,598,832,440 |
12,976,402,009 |
|
-Inventories |
17,080,586,950 |
14,075,592,124 |
15,721,249,741 |
|
Fixed Assets |
44,634,806,885 |
42,834,467,246 |
40,009,557,456 |
|
-Investment |
2,800,000 |
2,800,000 |
3,680,000 |
|
-Tangibles |
43,218,469,526 |
41,578,194,487 |
39,028,014,697 |
|
-Intangibles |
1,413,537,359 |
1,253,472,759 |
977,862,759 |
|
Total Liabilities |
12,869,215,980 |
12,598,077,028 |
10,542,361,571 |
|
Current Liabilities |
7,385,963,673 |
7,355,645,268 |
5,050,937,296 |
|
Fixed Liabilities |
5,483,252,307 |
5,242,431,760 |
5,491,424,275 |
|
Capital Stock |
3,990,000,000 |
3,990,000,000 |
3,990,000,000 |
|
Capital Surplus |
184,795,602 |
184,795,602 |
184,795,602 |
|
Profit Surplus |
39,500,246,548 |
37,201,462,809 |
35,455,495,662 |
|
Capital Adjustment |
18,534,556,371 |
18,534,556,371 |
18,534,556,371 |
|
Total Equity |
62,209,598,521 |
59,910,814,782 |
58,164,847,635 |
|
Liab. & Shareholder’s Equity |
75,078,814,501 |
72,508,891,810 |
68,707,209,206 |
|
Current Liabilities |
7,385,963,673 |
7,355,645,268 |
5,050,937,296 |
|
Trade Payables |
3,693,024,665 |
3,304,333,856 |
2,426,778,786 |
|
Account Payables |
841,184,057 |
841,583,914 |
947,579,846 |
|
Advance Receipts |
62,996,771 |
47,699,171 |
91,642,288 |
|
Withholdings |
461,435,382 |
458,319,282 |
350,255,617 |
|
Accrued Expenses |
1,812,973,521 |
1,913,690,251 |
1,234,680,759 |
|
Accrued Income Tax |
514,349,277 |
790,018,794 |
- |
|
Current Liabilities |
5,483,252,307 |
5,242,431,760 |
5,491,424,275 |
|
Provision for Severance &
Retirement |
8,070,724,915 |
7,562,700,527 |
7,244,090,893 |
|
Deferred Income Tax |
5,227,695,386 |
5,227,695,386 |
5,253,769,314 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Sales |
62,253,368,907 |
61,082,238,260 |
66,854,101,538 |
|
Cost of Sold Goods |
53,470,900,471 |
49,300,156,170 |
45,400,089,841 |
|
Gross Profit |
8,782,468,436 |
11,782,082,090 |
21,454,011,697 |
|
Selling & Admin. Expenses |
4,340,205,165 |
5,236,460,174 |
3,461,648,658 |
|
Operating Income |
4,442,263,271 |
6,545,621,916 |
17,992,363,039 |
|
Non-Operating Income |
1,167,914,444 |
1,254,466,192 |
3,046,814,489 |
|
Non-Operating Expenses |
896,293,868 |
993,821,641 |
3,864,529,055 |
|
Income Before Taxes |
4,713,883,847 |
6,806,266,467 |
17,174,648,473 |
|
Income Taxes Expenses |
1,058,500,108 |
1,389,499,320 |
2,379,433,105 |
|
Net Income |
3,655,383,739 |
5,416,767,147 |
14,795,215,368 |
Cash
Flows
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Cash Flows from Operating |
2,761,565,263 |
10,740,961,349 |
11,962,277,853 |
|
-Net Income |
3,655,383,739 |
5,416,767,147 |
14,795,215,368 |
|
-Exp. without Cash Outflow |
3,914,493,765 |
3,414,178,413 |
2,791,222,919 |
|
-Revenue without Cash Inflows |
-40,540,426 |
-93,566,288 |
-674,232,261 |
|
-Changes in Asset/ & Liability |
-4,767,771,815 |
2,003,582,077 |
-4,949,928,173 |
|
Cash Flows from Investing |
-5,096,659,897 |
-4,770,816,157 |
-2,739,188,524 |
|
-Cash Inflow from Investing |
187,488,091 |
203,266,000 |
7,535,622,400 |
|
-Cash Outflows for Investing |
-5,284,147,988 |
-4,974,082,157 |
-10,274,810,924 |
|
Cash Flows from Financing |
-1,356,600,000 |
-3,670,800,000 |
-6,140,204,398 |
|
-Cash Inflows from Financing |
- |
- |
374,795,602 |
|
-Cash Outflows from Financing |
-1,356,600,000 |
-3,670,800,000 |
-6,515,000,000 |
|
Increase/Decrease in Cash |
-3,691,694,634 |
2,299,345,192 |
3,082,884,931 |
|
Cash at the Beginning of Year |
7,365,188,553 |
5,065,843,361 |
1,982,958,430 |
|
Cash at the End of Year |
3,673,493,919 |
7,365,188,553 |
5,065,843,361 |
|
Main Products & Services |
Manufacturing & Marketing of Dyestuffs,
Pigments and their intermediates Importing, Manufacturing, Processing & Marketing
of Drugs, Bulk Pharmaceuticals, Quasi-drugs, Cosmetics and Medical devices Manufacturing & Marketing of
Agricultural chemicals and their intermediates Manufacturing & Marketing of Fertilizer Manufacturing & Marketing of Hazardous
chemical substances Manufacturing & Marketing of Fermented
foods and Acid/Alkali chemicals -Saccharin Sodium saccharin Calcium saccharin Insoluble saccharin Sodium saccharin, 6% moisture -Sulfo Products PTSA (para-Toluenesulfonamide) OTSA (ortho-Toluenesulfonamide) PTSC(para-Toluenesulfonyl chloride) OPTSA (ortho/para-Toluenesulfonamide) MPTS (p-Toluenesulfonic acid methyl ester) OPTSC (ortho/para-Toluenesulfonyl chloride) -Pharmaceutical Intermediates N-Acetylsulfanilyl chloride Sulfanilic acid Acetanilide -Reactive Dye Intermediate -Inorganic Chlorosulfonic acid Potassium sulfate Hydrochloric acid Sodium hydrogen sulfite |
|
Competitors |
KOREA SPECIAL INK INDUSTRIAL CO., LTD. 1385-7, JUAN 5-DONG, NAM-GU, TEL:+82-32-865-3031 FAX:+82-32-865-3036 MAGTEC CORP. 4TH FL., UJEONG BLDG., 835, YEOKSAM 1-DONG,
GANGNAM-GU, TEL:+82-2-553-2721 FAX:+82-2-553-6017 JIN WOONG INDUSTRIAL CO., LTD. 619-1, GANAP -RI, GWANGJEOK-MYEON,
YANGJU-SI, TEL:+82-31-837-6005 FAX:+82-31-837-6006 |
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
KYUNG-IN SYNTHETIC
CORPORATION(120111-0005703) DAITO-KISCO CORPORTION(120111-0368466) YANGWOO CO., LTD. KISCO KIMSOY CHEMICAL KIMSOY EXIM RACHADA CHEMICAL NAMO IT KISCO |
|
Subsidiary |
KYUNG-IN SYNTHETIC
CORPORATION(120111-0005703) |
|
Corporate Ownership |
KYUNG-IN SYNTHETIC
CORPORATION(120111-0005703) |
|
Cooperative |
-Insured Company GREEN NON-LIFE INSURANCE CO., LTD.(110111-0007082) |
(Activity & Markets)
The Subject deals with the companies in
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.38 |
|
|
1 |
Rs.87.44 |
|
Euro |
1 |
Rs.68.05 |
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.