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Report Date : |
23.06.2012 |
IDENTIFICATION DETAILS
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Name : |
STYROLUTION KOREA LTD. |
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|
|
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Registered Office : |
472-9, |
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|
|
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Country : |
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|
|
|
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Financials (as on) : |
31.12.2011 |
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|
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Date of Incorporation : |
29.09.2008 |
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|
|
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Com. Reg. No.: |
610-81- 94885 |
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|
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Legal Form : |
Co., Ltd by Shares |
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|
|
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Line of Business : |
Manufacture of Synthetic Rubber and Plastics Materials |
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|
|
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No. of Employees : |
174 |
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 |
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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 |
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Company
Name |
STYROLUTION KOREA LTD. (Korean Company Name : “한국스티롤루션(주)”) |
|
Registered Address |
472-9, |
|
Zip Code |
680-180 |
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Tel |
+82-52-279-5800 |
|
Fax |
+82-52-272-4801 |
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E-mail |
incheol.jeong@basf.com |
|
Website |
www.styrolution.com |
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Trading Address |
3F, Korea
Chamber of Commerce, 45, Namdaemunno 4(sa)-ga, Jung-gu, |
|
Tel |
+82-2-3707-7754 |
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Fax |
+82-2-3707-7730 |
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Type |
Export/Import |
|
Industry |
Manufacture of Synthetic Rubber and Plastics Materials |
|
Main Business |
SM, PS, ABS, SBC |
|
Established (mm/dd/yyyy) |
09/29/2008 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Chemicals including Bio Chemicals and Gas Materials(12000000) |
|
Sell |
Organic derivatives and substituted compounds(12352100) |
|
Name |
Lee Jong-Hoo |
|
Address |
|
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Date of Birth |
01/23/1963 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
|
Capital (KRW) |
63,800,000,000 |
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|
Employees |
174 |
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|
Formation |
Co., Ltd by Shares |
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Bank Details |
N/A |
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Corporate Registered No. |
230111-0148328 |
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Business Registered No. |
610-81- 94885 |
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Permit & Licenses |
Int’l Trade No.: 30680883 |
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Shareholder Position |
(*)The list is based as of 12/31/2011. |
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|
Company History |
09/29/2008 Incorporated as BASF STYRENICS
KOREA LTD. 07/02/2010 Changed company name to the
present name 12/01/2010 Increased the authorized shares
to 30,050,000 shares from 200,000 shares 12/29/2010 Increased capital to
30,050,000,000 KRW from 50,000,000 KRW 01/01/2011
Acquired KS Business from BASF COMPANY LTD.(
110111-0600860) 02/01/2012 Increased the authorized shares
to 63,800,000 shares from 30,050,000
shares 02/10/2012 Increased capital to
63,800,000,000 KRW from 30,050,000,000 KRW |
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lee Jong-Hoo |
Male |
Korean |
06/01/2012 |
|
Director |
Mr. |
Chi Myung-Suk |
Male |
Korean |
09/29/2008 |
|
Director |
Mr. |
Jang Hyung-Tae |
Male |
Korean |
10/14/2010 |
|
Director |
Mr. |
Roberto Gualdoni |
Male |
German |
10/14/2010 |
|
Director |
Mr. |
Kim Sang-Tae |
Male |
Korean |
10/01/2011 |
|
Auditor |
Mr. |
Jit Teng Tan |
Male |
Malaysian |
10/01/2011 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
1,160,344,177,953 |
285,327,618,004 |
6,110,509,115 |
|
|
2010 |
- |
29,887,212,789 |
-153,377,700 |
|
2009 |
|
|
|
|
2008 |
|
|
|
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Authorized Capital(KRW) |
63,800,000,000 |
|
Paid-Up Capital(KRW) |
63,800,000,000 |
|
Total Issues Shares |
63,800,000 |
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Total Assets |
285,327,618,004 |
29,887,212,789 |
|
|
Current Assets |
201,237,106,232 |
29,884,712,789 |
|
|
-Quick Assets |
145,877,584,080 |
29,884,712,789 |
|
|
-Inventories |
55,359,522,152 |
- |
|
|
Fixed Assets |
84,090,511,772 |
2,500,000 |
|
|
-Investment |
5,464,282,689 |
2,500,000 |
|
|
-Tangibles |
77,379,263,051 |
- |
|
|
-Intangibles |
7,481,210 |
- |
|
|
-Others |
1,239,484,822 |
- |
|
|
Total Liabilities |
249,221,048,900 |
8,152,800 |
|
|
Current Liabilities |
248,606,812,320 |
8,152,800 |
|
|
Fixed Liabilities |
614,236,580 |
- |
|
|
Capital Stock |
30,050,000,000 |
30,050,000,000 |
|
|
Capital Surplus |
|
|
|
|
Profit Surplus |
5,939,569,104 |
-170,940,011 |
|
|
Capital Adjustment |
117,000,000 |
- |
|
|
Total Equity |
36,106,569,104 |
29,879,059,989 |
|
|
Liab. & Shareholder’s Equity |
285,327,618,004 |
29,887,212,789 |
|
|
Current Liabilities |
248,606,812,320 |
8,152,800 |
|
|
Trade Payables |
133,402,282,205 |
- |
|
|
Short-Term Borrowings |
102,085,252,055 |
- |
|
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Account Payables |
- |
8,152,800 |
|
|
Advance Receipts |
1,892,272,857 |
- |
|
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Withholdings |
373,236,331 |
- |
|
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Accrued Expenses |
8,888,331,843 |
- |
|
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Derivatives |
634,466,082 |
- |
|
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Other Provisions |
1,330,970,947 |
- |
|
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Fixed Liabilities |
614,236,580 |
- |
|
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Provision for Severance & Retirement |
4,635,866,600 |
- |
|
|
Deferred Income Tax Credit |
33,000,000 |
- |
|
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Other Non-Current Liabilities |
581,236,580 |
- |
|
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Sales |
1,160,344,177,953 |
- |
|
|
Cost of Sold Goods |
1,083,647,783,909 |
- |
|
|
Gross Profit |
76,696,394,044 |
- |
|
|
Selling & Admin. Expenses |
65,043,776,563 |
153,397,700 |
|
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Operating Income |
11,652,617,481 |
-153,397,700 |
|
|
Non-Operating Income |
43,613,972,811 |
20,000 |
|
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Non-Operating Expenses |
47,914,538,902 |
- |
|
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Income Before Taxes |
7,352,051,390 |
-153,377,700 |
|
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Income Taxes Expenses |
1,241,542,275 |
- |
|
|
Net Income |
6,110,509,115 |
-153,377,700 |
|
|
Unit :
Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Cash Flows
from Operating |
46,586,232,367 |
-1,759,014,063 |
|
|
-Net Income |
6,110,509,115 |
-153,377,700 |
|
|
-Exp.
without Cash Outflow |
32,892,099,467 |
- |
|
|
-Revenue
without Cash Inflows |
-1,188,628,660 |
- |
|
|
-Changes in
Asset/ & Liability |
8,772,252,445 |
-1,605,636,363 |
|
|
Cash Flows
from Investing |
-7,437,266,247 |
- |
|
|
-Cash Inflow
from Investing |
113,679,360 |
- |
|
|
-Cash
Outflows for Investing |
-7,550,945,607 |
- |
|
|
Cash Flows
from Financing |
-46,530,118,693 |
30,000,000,000 |
|
|
-Cash
Inflows from Financing |
100,023,305,154 |
30,000,000,000 |
|
|
-Cash Outflows
from Financing |
-146,553,423,847 |
- |
|
|
Increase/Decrease
in Cash |
-7,381,152,573 |
28,240,985,937 |
|
|
Cash at the
Beginning of Year |
28,270,927,626 |
29,941,689 |
|
|
Cash at the
End of Year |
20,889,775,053 |
28,270,927,626 |
|
|
Main Products & Services |
SM, PS, ABS, SBC |
|
Competitors |
SAMSUNG TOTAL PETROCHEMICALS CO., LTD. 411-1, DOKGOT-RI, DAESAN-EUP, SEOSAN-SI, TEL:+82-41-660-6114 FAX:+82-41-681-4812 HONAM PETROCHEMICAL CORPORATION 11TH FL., TEL:+82-2-829-4114 FAX:+82-2-843-1010 SAM NAM PETROCHEMICAL CO., LTD. 4TH FL., SAMYANG CO. BLDG., 263,
YEONJI-DONG, JONGNO-GU, TEL:+82-2-740-7450~1 FAX:+82-2-745-4225 |
(Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
BASF COMPANY LTD.(110111-0600860) CIBA SPECIALTY CHEMICALS KOREA LTD.(110111-0714406) DAIHAN SWISS CHEMICAL CORP.(110111-0307325) BASF AKTIENGESELLSCHAFT BASF STYROLUTION POLYMERS |
|
Corporate Ownership |
STYROLUTION HOLDING GMBH STYROLUTION GROUP GMBH |
|
Major Shareholders |
STYROLUTION GROUP GMBH |
|
Cooperative |
-Technical Support & Engineering Supply
Agreement with STYROLUTION GMBH |
(Activity &
Markets)
The Subject deals with the companies in
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.99 |
|
|
1 |
Rs.88.97 |
|
Euro |
1 |
Rs.71.57 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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.