MIRA INFORM REPORT

 

 

Report Date :

11.06.2012

 

IDENTIFICATION DETAILS

 

Correct Name :

YOUNG BO TEXTILE CO., LTD.

 

 

Formerly Known As :

YOUNG BO TEXTILE CO.

 

 

Registered Office :

101-18, Anamdong 5-ga, Seongbuk-gu, Seoul, Korea, Zip Code 136-075

 

 

Country :

South Korea

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

19.06.1987

 

 

Com. Reg. No.:

209-81-10711

 

 

Legal Form :

Co., Ltd by Shares

 

 

Line of Business :

Weaving of Man-Made Fiber Fabrics

 

 

No. of Employees :

52

 

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)

South Korea

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Basic

 

Company Name

YOUNG BO TEXTILE CO., LTD.

(Korean Company Name : “영보직물(주)”)

Registered Address

101-18, Anamdong 5-ga, Seongbuk-gu, Seoul, Korea

Zip Code

136-075

Tel

+82-2-927-9680~9

Fax

+82-2-926-3465

E-mail

jeon@youngbo.co.kr;steven@youngbo.co.kr

Website

www.wingtex.com

Trading Address

101-18, Anamdong 5-ga, Seongbuk-gu, Seoul, Korea

Tel

+82-2-927-9680~9

Fax

+82-2-926-3465

Other Address-Okcheon Factory

461-35, Geonjin-ri, Iwon-myeon, Okcheon-gun, Chungcheongbuk-do, Korea

Tel

+82-43-733-8385~6

Fax

+82-43-733-8387

Type

Export/Import

Industry

Weaving of Man-Made Fiber Fabrics

  Main Business

Acetate Lining Cloth, Nylon Acetate Lining Cloth, Polyester Lining Cloth

Established (mm/dd/yyyy)

06/19/1987

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Synthetic fabrics(11161800)

Sell

Jacquard weave synthetic fabrics(11161802)

Buy

Threads(11151600)

 

 

CEO’s

 

Name

Lee Seung-Jun

Address

Suite 218-1, 667, Dongbaek-dong, Giheung-gu, Yongin-si, Gyeonggi-do, Korea

Date of Birth

01/06/1965

Title

President & CEO

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

1,000,000,000

Employees

52

Formation

Co., Ltd by Shares

Bank Details

Kookmin Bank-Daejeon Branch

Industrial Bank of Korea-Anam Dong Branch

Corporate Registered No.

170111-0031302

Business Registered No.

209-81-10711

Permit & Licenses

Int’l Trade No.: 875723

Shareholder Position

Name

Shares

%

LEE SEUNG-JUN & OTHERS(5)

187,400

93.70

KIM MOON-HEE

6,600

3.30

SUL DONG-HO

6,000

3.00

TOTAL

200,000

100.00

Company History

02/15/1968 Established as YOUNG BO TEXTILE CO.

06/19/1987 Incorporated as the present name

11/1991 Awarded US$ 10 Million Export Top Prize

12/23/1998 Increased capital to 1,000,000,000 KRW from 500,000,000 KRW

 

 

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

Mr.

Lee Seung-Jun

Male

Korean

05/10/1994

Director

Mr.

Kim Moon-Hee

Male

Korean

03/30/1992

Director

Mr.

Sul Dong-Ho

Male

Korean

03/29/2002

Auditor

M/S.

Jung Kyung-Lim

Female

Korean

03/21/2007

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2011

32,693,457,114

18,242,762,948

751,516,877

2010

30,847,788,947

14,903,630,299

356,044,128

2009

27,118,328,022

15,367,383,539

630,742,351

 

 

Financial Description

 

Authorized Capital(KRW)

1,200,000,000

Paid-Up Capital(KRW)

1,000,000,000

Total Issued Shares

200,000

 

Balance Sheet

 

Unit : Korean Won

As of 12/31/2011

As of 12/31/2010

As of 12/31/2009

Total Assets

18,242,762,948

14,903,630,299

15,367,383,539

Current Assets

15,103,395,788

11,805,720,805

11,990,283,702

-Quick Assets

6,737,727,203

7,333,847,464

6,477,431,524

-Inventories

8,365,668,585

4,471,873,341

5,512,852,178

Fixed Assets

3,139,367,160

3,097,909,494

3,377,099,837

-Investment

907,596,697

815,980,625

895,050,969

-Tangibles

1,228,646,991

1,294,442,997

1,494,562,996

-Intangibles

1,003,123,472

987,485,872

987,485,872

Total Liabilities

7,505,624,557

4,947,767,985

5,834,982,616

Current Liabilities

7,234,710,381

4,303,779,097

5,269,836,305

Fixed Liabilities

270,914,176

643,988,888

565,146,311

Capital Stock

1,000,000,000

1,000,000,000

1,000,000,000

Capital Surplus

1,714,796,773

1,714,796,773

1,714,796,773

Profit Surplus

7,894,495,618

7,142,978,741

6,786,934,613

Capital Adjustment

127,846,000

98,086,800

30,669,537

Total Equity

10,737,138,391

9,955,862,314

9,532,400,923

Liab. & Shareholder’s Equity

18,242,762,948

14,903,630,299

15,367,383,539

 

Current Liabilities

7,234,710,381

4,303,779,097

5,269,836,305

Trade Payables

438,279,604

548,183,791

451,530,269

Short-Term Borrowings

5,449,482,513

3,128,795,278

3,771,649,176

Short-Term Borrowings-Foreign Currency

-　

-　

238,560,179

Account Payables

1,137,414,440

578,277,010

521,546,473

Advance Receipts

32,272,188

31,989,492

239,856,540

Withholdings

62,727,645

12,689,295

19,016,895

Unearned Income

1,196,708

2,970,959

3,407,779

Accrued Expenses

       5,462,033

35,042

36,624

Accrued Income Tax

   107,875,250

838,230

16,800,370

Derivatives

-　

-　

7,432,000

Fixed Liabilities

270,914,176

643,988,888

565,146,311

Long-Term Borrowings

56,741,580

59,851,080

62,579,760

Provision for Severance & Retirement

205,881,196

581,961,608

495,390,351

Leasehold Deposit Received

9,000,000

10,000,000

15,000,000

 

 

Income Statement

 

Unit : Korean Won

As of 12/31/2011

As of 12/31/2010

As of 12/31/2009

Sales

32,693,457,114

30,847,788,947

27,118,328,022

Cost of Sold Goods

27,114,556,431

26,291,898,031

21,994,396,070

Gross Profit

 5,578,900,683

4,555,890,916

5,123,931,952

Selling & Admin. Expenses

 4,879,744,775

4,033,404,785

3,776,570,084

Operating Income

699,155,908

522,486,131

1,347,361,868

Non-Operating Income

822,316,986

762,886,669

915,432,234

Non-Operating Expenses

639,489,397

911,768,212

1,482,988,431

Income Before Taxes

881,983,497

373,604,588

779,805,671

Income Taxes Expenses

130,466,620

17,560,460

149,063,320

Net Income

751,516,877

356,044,128

630,742,351

 

 

Cash Flows

 

Unit : Korean Won

As of 12/31/2011

As of 12/31/2010

As of 12/31/2009

Cash Flows from Operating

-3,689,855,477

1,409,492,742

1,911,641,696

-Net Income

751,516,877

356,044,128

630,742,351

-Exp. without Cash Outflow

477,212,289

399,586,531

472,125,870

-Revenue without Cash Inflows

-18,083,227

-421,093,222

-62,104,094

-Changes in Asset/ & Liability

-4,900,501,416

1,074,955,305

870,877,569

Cash Flows from Investing

-38,931,907

-290,627,589

-277,527,888

-Cash Inflow from Investing

764,609,091

821,000,116

660,319,598

-Cash Outflows for Investing

-803,540,998

-1,111,627,705

-937,847,486

Cash Flows from Financing

2,316,577,735

-889,142,757

-450,329,726

-Cash Inflows from Financing

17,081,757,963

19,365,827,732

34,846,431,062

-Cash Outflows from Financing

-14,765,180,228

-20,254,970,489

-35,296,760,788

Increase/Decrease in Cash

-1,412,209,649

229,722,396

1,183,784,082

Cash at the Beginning of Year

2,835,330,394

2,605,607,998

1,421,823,916

Cash at the End of Year

1,423,120,745

2,835,330,394

2,605,607,998

 

 

Products, Technologies, Services Description

 

Main Products & Services

Acetate Lining Cloth, Nylon Acetate Lining Cloth, Polyester Lining Cloth

 

 

Trade Partners & Competitors

 

Suppliers

HYOSUNG CAPITAL CO., LTD.(110111-1419286) provides vehicles services to the subject company.

 

SK CHEMICALS CO., LTD.(130111-0005727)

Customers

ALPERT LEE & ASSOCIATES LTD.(HONG KONG)

Competitors

AMMI CO., LTD.

62-12, SINDANG 5-DONG, JUNG-GU, SEOUL, KOREA

TEL:+82-2-2238-8046  FAX:+82-2-2232-5887

 

SINAN TRADING CO., LTD.

RM. 901, SINCHANG VIVA FAMILY, 232-1, YONGDAP-DONG, SEONGDONG-GU, SEOUL, KOREA

TEL:+82-2-2248-7165  FAX:+82-2-2248-7177

 

SM CORPORATION

1ST FL., 879-3, DOKSAN 3-DONG, GEUMCHEON-GU, SEOUL, KOREA

TEL:+82-2-867-6805  FAX:+82-2-867-6806

 

 

Related Parties

(Subsidiaries, Joint-Venture & Affiliates)

 

Affiliates

CHUNSUNG CO., LTD.(154211-0001337)

 

 

Sales by Region

(Activity & Markets)

 

Sales/ Unit :Thousand KRW

2011

2010

2009

Export

28,632,483

26,961,175

 

Domestic

4,061,014

3,886,838

 

 

-40

-224

 

Total

32,693,457

30,847,789

 

The Subject deals with the companies in Hong Kong, Philippines, Turkey and Europe.

 

 

Court Action

 

No.

 

 

News Clipping

 

---

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.36

UK Pound

1

Rs.85.64

Euro

1

Rs.69.21

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.