|
Report Date : |
02.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
WELCRON KANGWON CO., LTD. |
|
|
|
|
Formerly Known As : |
KANGWON B&E CO., LTD. |
|
|
|
|
Registered Office : |
580-1, Jang-an-ri, Jang-an-myeon, Hwaseong-si, |
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|
|
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Country : |
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|
|
|
|
Financials (as on) : |
31.03.2012 |
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|
|
|
Date of Incorporation : |
06.02.1976 |
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|
|
|
Com. Reg. No.: |
124-81-46960 |
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|
|
|
Legal Form : |
Listed Company |
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|
|
|
Line of Business : |
Manufacturer of Nuclear Reactors and Steam Generators |
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|
|
|
No. of Employees : |
102 |
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 |
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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 – 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 |
WELCRON KANGWON CO., LTD. (Ex. Company Name : KANGWON B&E CO., LTD., “강원비앤이(주)” (Korean Company Name : “(주)웰크론강원”) |
|
Registered Address |
580-1, Jang-an-ri, Jang-an-myeon, Hwaseong-si, (New Address System : 919-18, Poseungjangan-ro,
Jangan-myeon, Hwaseong-si, |
|
Zip Code |
445-943 |
|
Tel |
+82-31-358-7683 |
|
Fax |
+82-31-358-8676 |
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E-mail |
|
|
Website |
|
|
Trading Address |
212-24, Guro-dong,
Guro-gu, |
|
Tel |
+82-2-6670-9000 |
|
Fax |
+82-2-2108-4611 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Nuclear Reactors and Steam Generators |
|
Main Business |
Industrial Boilers, HRSG, Heat Exchangers, Incinerators, Furnaces,
Fired Heater, Direct Fired Incinerator, Catalytic Oxidizer |
|
Sub
Business |
Manufacture of Central Heating Boilers and Radiators |
|
Established (mm/dd/yyyy) |
02/06/1976 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Boilers(40102000) |
|
Sell |
Fire tube boilers(40102001) |
|
Sell |
Water tube boiler(40102002) |
|
Sell |
Convection heaters(40101811) |
|
Name |
Lee Young-Kyu |
|
Date of Birth |
11/10/1959 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
2,650,000,000 |
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|
Employees |
102 |
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|
Formation |
Listed Company (KOSDAQ : 114190) as of 11/20/2009 |
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Bank Details |
Industrial Bank of Korea-Gaebong Branch |
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Corporate Registered No. |
110111-0191398 |
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Business Registered No. |
124-81-46960 |
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Permit & Licenses |
12/21/1997 ISO 9001 12/27/1997 EM Mark 04/23/2001 ISO 14001 Int’l Trade No.: 175272 |
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Shareholder Position |
|
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Company History |
03/1971 Established as KANGWON BOILER
CO.(Sole Proprietorship) 02/06/1976 Incorporated as KANGWON BOILER
MANUFACTURING CO., LTD. 11/2001 Awarded US$ 5 Million Export Top
Prize 11/2007 Awarded US$ 10 Million Export Top
Prize 06/2008 Changed company name to KANGWON B&E CO., LTD. 11/30/2011 Awarded US$ 20 Million Export Top
Prize 03/23/2012 Changed company name to the
present name |
||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
President & CEO |
Mr. |
Lee Young-Kyu |
Korean |
1959.11.10 |
- |
|
Vice Chairman |
Mr. |
Lee Hyo-Kook |
Korean |
1949.02.16 |
|
|
Outside Director |
Mr. |
Han Dong-Jin |
Korean |
1945.04.10 |
|
|
Outside Director |
Mr. |
Lee Haeng-Ki |
Korean |
1946.09.18 |
- |
|
Outside Director |
Mr. |
Jang Se-Dong |
Korean |
1956.10. |
- |
|
Executive Director |
Mr. |
Lee Hun-Kyu |
Korean |
1963.08. |
- |
|
Vice President &
CEO |
Mr. |
Han Cheon-Seok |
Korean |
1954.09.09 |
|
|
Executive Director |
Mr. |
Yeom Sung-Woon |
Korean |
1960.04.17 |
- |
|
Director |
Mr. |
Jung Sung-Sik |
Korean |
1968.05.03 |
- |
|
Auditor |
Mr. |
Song Young-Sub |
Korean |
1961.09.06 |
|
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
31,979,175,911 |
86,813,595,547 |
4,523,286,421 |
|
|
12/2011 |
5,803,423,154 |
59,922,123,862 |
921,015,620 |
|
11/2011 |
50,222,892,047 |
53,719,067,042 |
5,754,714,777 |
|
11/2010 |
30,619,298,393 |
28,677,831,553 |
1,716,785,857 |
|
11/2009 |
38,673,259,927 |
31,707,898,689 |
2,590,391,566 |
|
11/2008 |
49,499,532,666 |
29,219,823,693 |
2,333,829,008 |
|
11/2007 |
31,479,842,441 |
22,319,635,110 |
2,334,372,519 |
|
Authorized Capital(KRW) |
10,000,000,000 |
|
Paid-Up Capital(KRW) |
2,650,000,000 |
|
Total Issues Shares |
6,333,413 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
01/01/2012~03/31/2012 |
12/01/2011~12/31/2011 |
12/01/2010~11/30/2011 |
|
Total Assets |
86,813,595,547 |
59,922,123,862 |
53,719,067,042 |
|
Current Assets |
80,527,279,541 |
54,120,885,299 |
47,950,974,687 |
|
Cash & Cash
Equivalents |
23,516,631,545 |
16,960,214,072 |
15,338,009,297 |
|
Other Financial
Assets |
17,571,133,543 |
5,881,337,665 |
5,853,837,665 |
|
Marketable Financial
Instruments |
|
|
936,624,950 |
|
Trade Receivables |
27,361,037,492 |
17,989,855,441 |
12,650,935,481 |
|
Other Receivables |
364,583,338 |
662,357,981 |
612,930,232 |
|
Inventories |
2,064,249,748 |
4,461,701,388 |
3,989,692,235 |
|
Other Current Assets |
9,649,643,875 |
8,165,418,752 |
8,568,944,827 |
|
Non-Current Assets |
6,286,316,006 |
5,801,238,563 |
5,768,092,355 |
|
Marketable Financial
Instruments |
644,694,495 |
644,694,495 |
644,694,495 |
|
Non-Current Financial
Instruments |
885,095,400 |
576,667,760 |
557,580,740 |
|
Tangibles |
4,107,817,781 |
3,926,352,978 |
3,912,293,790 |
|
Intangibles |
332,226,666 |
332,226,666 |
332,226,666 |
|
Other Non-Current
Receivables |
82,243,300 |
82,243,300 |
82,243,300 |
|
Other Non-Current
Assets |
234,238,364 |
239,053,364 |
239,053,364 |
|
Total
Liabilities |
57,604,859,637 |
34,498,674,154 |
29,216,632,954 |
|
Current Liabilities |
45,466,956,552 |
34,329,909,160 |
29,049,481,696 |
|
Trade Payables |
17,841,723,945 |
14,087,692,725 |
13,966,075,750 |
|
Other Current
Liabilities |
27,625,232,607 |
20,242,216,435 |
15,083,405,946 |
|
Non-Current Liabilities |
12,137,903,085 |
168,764,994 |
167,151,258 |
|
Bond With Warrant |
5,955,924,696 |
|
|
|
Deferred Income Tax
Credit |
171,424,810 |
154,673,528 |
153,325,493 |
|
Provision for
Severance & Retirement |
10,557,701 |
14,091,466 |
13,825,765 |
|
Other Non-Current
Liabilities |
5,999,995,878 |
|
|
|
Capital Stock |
2,650,000,000 |
2,650,000,000 |
2,650,000,000 |
|
Capital Surplus |
6,172,587,743 |
6,155,226,039 |
6,155,226,039 |
|
Others |
-849,948,736 |
-856,324,163 |
-856,324,163 |
|
Profit Surplus |
21,236,096,903 |
17,474,547,832 |
16,553,532,212 |
|
Total Equity |
29,208,735,910 |
25,423,449,708 |
24,502,434,088 |
|
Liab. &
Shareholder’s Equity |
86,813,595,547 |
59,922,123,862 |
53,719,067,042 |
Income
Statement
|
|||
|
Unit : Korean Won |
01/01/2012~03/31/2012 |
12/01/2011~12/31/2011 |
12/01/2010~11/30/2011 |
|
Sales |
31,979,175,911 |
5,803,423,154 |
50,222,892,047 |
|
Cost of Sold Goods |
24,058,108,301 |
4,236,747,565 |
37,631,682,953 |
|
Gross Profit |
7,921,067,610 |
1,566,675,589 |
12,591,209,094 |
|
Selling & Admin.
Expenses |
2,447,519,864 |
602,930,555 |
6,335,758,798 |
|
Other Operating
Income |
143,442,161 |
182,374,401 |
764,461,238 |
|
Other Operating
Expenses |
207,180,999 |
57,825,112 |
429,904,002 |
|
Operating Income |
5,409,808,908 |
1,088,294,323 |
6,590,007,532 |
|
Finance Income |
331,023,712 |
122,142,627 |
745,100,730 |
|
Finance Expenses |
11,219,357 |
221,230 |
89,474,417 |
|
Income Before Taxes |
5,729,613,263 |
1,210,215,720 |
7,245,633,845 |
|
Income Taxes Expenses |
1,206,326,842 |
289,200,100 |
1,490,919,068 |
|
Net Income |
4,523,286,421 |
921,015,620 |
5,754,714,777 |
Cash
Flows
|
|||
|
Unit : Korean Won |
01/01/2012~03/31/2012 |
12/01/2011~12/31/2011 |
12/01/2010~11/30/2011 |
|
Operating Activities Cash Flows |
7,480,220,979 |
789,090,165 |
15,102,829,626 |
|
Net Income |
4,523,286,421 |
921,015,620 |
5,754,714,777 |
|
Adjustment |
3,410,255,191 |
-186,851,287 |
9,329,103,673 |
|
Interests Paid |
- |
-221,230 |
-16,729,702 |
|
Interests Received |
210,823,085 |
64,149,742 |
374,955,134 |
|
Income Taxes |
-664,143,718 |
-9,002,680 |
-339,214,256 |
|
Cash Flows from Investing |
-12,147,246,425 |
835,108,590 |
-4,700,331,036 |
|
Cash Flows from
Financing |
11,211,544,928 |
|
-626,155,015 |
|
Increase/Decrease in
Cash |
6,556,417,473 |
1,622,204,775 |
9,773,098,824 |
|
Cash at the Beginning
of Year |
16,960,214,072 |
15,338,009,297 |
5,654,910,473 |
|
Cash at the End of
Year |
23,516,631,545 |
16,960,214,072 |
15,338,009,297 |
|
Main Products & Services |
Industrial Boilers, HRSG, Heat Exchangers, Incinerators, Furnaces,
Fired Heater, Direct Fired Incinerator, Catalytic Oxidizer |
|
Suppliers |
POSCO(174611-0000741) |
|
Competitors |
SEENTEC CO., LTD.(194211-0046004) TODAYSURE PROJECT( ENERCON SYSTEM( HS THERMAL ENGINEERING( GEM MACCI( CELICES( THERMAX( |
(Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
WELCRON HANTEC CO.,
LTD. (Ex. HANTEC ENGINEERING CO., LTD.
110111-1118276) |
(Activity & Markets)
|
Sales/ Unit : KRW |
03/2012 |
2011 |
2010 |
|
Export |
27,646,405,752 |
40,233,668,779 |
23,986,650,195 |
|
Domestic |
4,332,770,159 |
9,999,223,268 |
6,632,648,198 |
|
Total |
31,979,175,911 |
50,222,892,047 |
153,137,921,474 |
The Subject exports
to
Not Available.
-----
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.92 |
|
|
1 |
Rs.86.03 |
|
Euro |
1 |
Rs.69.13 |
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.