|
Report Date : |
30.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
SAE-A TRADING
CO., LTD. |
|
|
|
|
Registered Office : |
8th Fl., Sae-a |
|
|
|
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Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
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|
|
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Date of Incorporation : |
04.07.1988 |
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|
|
|
Com. Reg. No.: |
114-81-56118 |
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|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Manufacture of Shirts and Sports Garments |
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|
|
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No. of Employees : |
650 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Company Name |
SAE-A TRADING
CO., LTD. (Korean Company Name
: “세아상역(주)”) |
|
Registered Address |
946-12, Daechi 3-dong, Gangnam-gu, |
|
Building |
8th Fl., Sae-a |
|
Zip Code |
135-846 |
|
Tel |
+82-2-6252-7000 |
|
Fax |
+82-2-6252-7002 |
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E-mail |
|
|
Website |
|
|
Trading Address |
8th Fl., Sae-a |
|
Tel |
+82-2-6252-7114 |
|
Fax |
+82-2-6252-7002 |
|
Other Address |
736-15, Banpo-dong, Seocho-gu, |
|
Type |
Export |
|
Industry |
Manufacture of Shirts and Sports Garments |
|
Main Business |
Knit, Garment, Shirt |
|
Established (mm/dd/yyyy) |
07/04/1988 |
The Subject owns
the premises of registered HQ address(1,800.8㎡).
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Sweaters(53101700) |
|
Name |
Kim Tae-Hyung |
|
Address |
|
|
Date of Birth |
03/19/1962 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
15,000,000,000 |
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|
Employees |
650 |
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|
Formation |
Co., Ltd by shares |
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Bank Details |
Hana Bank-Gangnam Branch Korea Exchange Bank-Sunnung Branch Shinhan Bank-Nonhyun Branch |
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Corporate Registered No. |
110111-0581565 |
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Business Registered No. |
114-81-56118 |
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Permit & Licenses |
Int’l Trade No.: 934169 |
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Shareholder Position |
|
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Company History |
07/04/1988 Incorporated as the present name 09/01/2000 Moved to the present HQ address
from 736-15, Banpo-dong, Seocho-gu, 03/31/1997 Increased the authorized shares
to 120,000 shares from 60,000 shares 04/10/1998 Increased the authorized shares
to 500,000 shares from 120,000 shares 04/17/1998 Increased capital to
1,500,000,000 KRW from 1,000,000,000 KRW 12/29/1998 Increased capital to
2,500,000,000 KRW from 1,500,000,000 KRW 03/11/1999 Increased the authorized shares
to 1,000,000 shares from 500,000 shares 03/11/1999 Acquired Nawoo Trading Co.,
Ltd.(110111-1418965) 03/11/1999 Increased capital to
3,000,000,000 KRW from 2,500,000,000 KRW 08/10/1999 Increased capital to
4,000,000,000 KRW from 3,000,000,000 KRW 12/28/2001 Increased capital to
6,000,000,000 KRW from 4,000,000,000 KRW 11/2005 Awarded US$300 Million Export Top
Prize 11/2006 Awarded US$500 Million Export Top
Prize 04/2007 Acquired NASAN CO., LTD., at
350,400,000,000 KRW 11/2007 Awarded US$600 Million Export Top
Prize 11/2009 Awarded US$800 Million Export Top
Prize 03/31/2010 Increased capital to
15,000,000,000 KRW from 6,000,000,000 KRW |
|||||||||
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|
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Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Kim Tae-Hyung |
Male |
Korean |
07/10/2008 |
|
Director |
Mr. |
Kim Woong-Ki |
Male |
Korean |
07/27/1995 |
|
Director |
Mr. |
Kim Soo-Nam |
Male |
Korean |
07/27/1995 |
|
Auditor |
Mr. |
Jung Dong-Ha |
Male |
Korean |
04/13/2009 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
1,093,863,988,790 |
531,812,272,627 |
31,956,353,449 |
|
|
2009 |
1,142,605,631,639 |
491,845,834,893 |
29,627,219,037 |
|
2008 |
856,449,940,223 |
463,864,931,278 |
36,472,578,699 |
|
2007 |
692,735,904,667 |
335,913,049,192 |
(-)16,106,694,604 |
|
2006 |
629,059,799,636 |
284,174,289,144 |
14,144,138,224 |
|
2005 |
521,230,786,732 |
195,690,925,171 |
10,557,256,195 |
|
2004 |
428,235,512,987 |
166,093,477,238 |
10,211,619,137 |
|
2003 |
315,604,409,104 |
144,480,661,604 |
6,727,913,086 |
Financial
Description
|
Authorized Capital(KRW) |
50,000,000,000 |
|
Paid-Up Capital(KRW) |
15,000,000,000 |
|
Total Issues Shares |
30,000,000 |
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
531,812,272,627 |
491,845,834,893 |
463,864,931,278 |
|
Current Assets |
301,394,257,822 |
263,730,910,417 |
232,573,064,953 |
|
-Quick Assets |
109,675,969,651 |
124,486,187,402 |
101,273,243,064 |
|
-Inventories |
191,718,288,171 |
139,244,723,015 |
131,299,821,889 |
|
Fixed Assets |
230,418,014,805 |
228,114,924,476 |
231,291,866,325 |
|
-Investment |
146,358,859,593 |
143,708,573,590 |
146,502,799,787 |
|
-Tangibles |
83,523,636,384 |
83,811,642,725 |
84,077,184,538 |
|
-Intangibles |
30,833,334 |
120,022,667 |
181,712,000 |
|
-Others |
504,685,494 |
474,685,494 |
530,170,000 |
|
Total Liabilities |
343,775,980,103 |
330,465,182,195 |
321,122,969,856 |
|
Current Liabilities |
308,986,641,727 |
275,105,165,418 |
243,797,814,972 |
|
Fixed Liabilities |
34,789,338,376 |
55,360,016,777 |
77,325,154,884 |
|
Capital Stock |
15,000,000,000 |
6,000,000,000 |
6,000,000,000 |
|
Capital Surplus |
- |
6,570,939,625 |
7,460,317,464 |
|
Profit Surplus |
132,622,416,543 |
114,961,551,816 |
92,051,519,284 |
|
Capital Adjustment |
40,413,875,981 |
33,848,161,257 |
37,230,124,674 |
|
Total Equity |
188,036,292,524 |
161,380,652,698 |
142,741,961,422 |
|
Liab. & Shareholder’s Equity |
531,812,272,627 |
491,845,834,893 |
463,864,931,278 |
|
Current
Liabilities |
308,986,641,727 |
275,105,165,418 |
243,797,814,972 |
|
Trade Payables |
88,567,658,432 |
88,459,982,783 |
74,163,537,729 |
|
Short-Term Borrowings |
203,044,434,788 |
162,622,713,121 |
158,448,241,741 |
|
Usance
Borrowings |
75,547,500,000 |
55,248,700,000 |
45,721,300,000 |
|
Other
Borrowings |
92,356,734,788 |
73,769,613,121 |
68,976,941,741 |
|
Withholdings |
35,140,200,000 |
33,604,400,000 |
43,750,000,000 |
|
Accrued Expenses |
5,069,688,787 |
12,724,194,541 |
4,906,960,722 |
|
Withholdings |
2,205,995,643 |
3,134,807,955 |
980,791,294 |
|
VAT Withhold |
14,485,395 |
15,990,375 |
147,161,345 |
|
Suspense Payables |
22,680,638 |
58,101,857 |
7,633,390 |
|
Advance Receipts |
2,694,834,000 |
651,000 |
187,595,301 |
|
Accrued Income Tax |
7,366,864,044 |
7,931,093,580 |
4,437,536,839 |
|
Current Portion of Deferred Income Tax
Credit |
- |
157,630,206 |
518,356,611 |
|
Fixed
Liabilities |
34,789,338,376 |
55,360,016,777 |
77,325,154,884 |
|
Long-Term Borrowings |
19,656,700,000 |
38,378,511,229 |
59,939,128,416 |
|
Leasehold Deposit Received |
2,712,326,580 |
3,180,983,380 |
3,040,281,780 |
|
Non-Current Portion of Deferred Income Tax
Credit |
12,420,311,796 |
13,800,522,168 |
14,345,744,688 |
|
Provision for Severance & Retirement |
9,911,011,288 |
7,231,370,015 |
9,215,154,090 |
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
1,093,863,988,790 |
1,142,605,631,639 |
856,449,940,223 |
|
Cost of Sold Goods |
943,106,593,490 |
985,057,011,557 |
704,253,711,325 |
|
Gross Profit |
150,757,395,300 |
157,548,620,082 |
152,196,228,898 |
|
Selling & Admin. Expenses |
103,503,041,075 |
105,854,103,659 |
77,601,873,771 |
|
Operating Income |
47,254,354,225 |
51,694,516,423 |
74,594,355,127 |
|
Non-Operating Income |
41,391,369,582 |
56,882,295,196 |
89,637,045,600 |
|
Non-Operating Expenses |
46,980,983,326 |
69,733,315,244 |
112,840,926,980 |
|
Income Before Taxes |
41,664,740,481 |
38,843,496,375 |
51,390,473,747 |
|
Income Taxes Expenses |
9,708,387,032 |
9,216,277,338 |
14,917,895,048 |
|
Net Income |
31,956,353,449 |
29,627,219,037 |
36,472,578,699 |
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows from Operating |
-23,530,950,207 |
35,589,650,545 |
-11,923,792,932 |
|
-Net Income |
31,956,353,449 |
29,627,219,037 |
36,472,578,699 |
|
-Exp. without Cash Outflow |
21,142,985,007 |
6,981,228,722 |
16,828,664,267 |
|
-Revenue without Cash Inflows |
-14,751,364,869 |
-11,004,937,160 |
-50,606,633,704 |
|
-Changes in Asset/ & Liability |
-61,878,923,794 |
9,986,139,946 |
-14,618,402,194 |
|
Cash Flows from Investing |
-14,660,063,739 |
1,148,795,442 |
21,114,936,145 |
|
-Cash Inflow from Investing |
87,831,740,107 |
100,859,890,315 |
130,751,271,078 |
|
-Cash Outflows for Investing |
-102,491,803,846 |
-99,711,094,873 |
-109,636,334,933 |
|
Cash Flows from Financing |
18,638,933,590 |
-17,334,373,214 |
1,577,568,955 |
|
-Cash Inflows from Financing |
485,292,000,831 |
482,899,647,146 |
350,263,449,616 |
|
-Cash Outflows from Financing |
-466,653,067,241 |
-500,234,020,360 |
-348,685,880,661 |
|
Increase/Decrease in Cash |
-19,552,080,356 |
19,404,072,773 |
10,768,712,168 |
|
Cash at the Beginning of Year |
39,246,569,852 |
19,842,497,079 |
9,073,784,911 |
|
Cash at the End of Year |
19,694,489,496 |
39,246,569,852 |
19,842,497,079 |
|
Main Products & Services |
Knit, Garment, Shirt |
|
Customers |
TARGET WAL-MART ABERCROMBIE & FITCH GAP INC. AEROPOSTALE |
|
Competitors |
YAKJIN TRADING CORPORATION 5TH FL., YEONG BLDG., 166-9, GARAK-DONG,
SONGPA-GU, TEL:+82-2-430-1101 FAX:+82-2-449-4500 PAN-PACIFIC CO., LTD. 726, WONSI-DONG, DANWON-GU, ANSAN-SI, TEL:+82-2-850-9000 FAX:+82-2-830-1011 SAMIL KNIT CO., LTD. 190-99, SANGJISEOK-RI, GYOHA-MYEON,
PAJU-SI, TEL:+82-2-3451-6724 FAX:+82-2-598-7422 |
|
Affiliates |
EINS TREND INC.(110111-3126136) |
|
Subsidiary |
SAE-A INTERNATIONAL (100.0% held by the subject company) WINNERS CORP. (100.0% held by the subject company) SAE-A TECNOTEX (100.0% held by the subject company) PT.WINNERS (100.0% held by the subject company) EINS VINA (100.0% held by the subject company) SAE-A (80.0% held by the subject company) SAE-A (100.0% held by the subject company) PT.EINS TREND (100.0% held by the subject company) EINS S.A (100.0% held by the subject company) IN THE F CO., LTD.(EX. NASAN CO., LTD.
110111-0279996) (69.0% held by the subject company) IN THE F GAESUNG CO., LTD.( (100.0% held by the subject company) GLOVIA (100.0% held by the subject company) SENIKA (100.0% held by the subject company) SJS TOMORROW (99.0% held by the subject company) |
|
Corporate Ownership |
|
|
Major Shareholders |
|
|
Cooperative |
-Insured Company AIG INSURANCE CO., LTD.( |
The Subject exports
to
No.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.14 |
|
|
1 |
Rs.81.41 |
|
Euro |
1 |
Rs.68.22 |
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.