MIRA
INFORM REPORT
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Report Date : |
14.05.2012 |
IDENTIFICATION DETAILS
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Name : |
LG INTERNATIONAL (DEUTSCHLAND) GMBH |
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Registered Office : |
Lyoner Strasse 15, Frankfurt Am |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1977 |
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Com. Reg. No.: |
23423 |
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Legal Form : |
Private Subsidiary Company |
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Line of Business : |
wholesale of
furniture |
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No. of Employees : |
09 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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) |
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Germany |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address
LG International (Deutschland) GmbH
Lyoner Strasse 15
Frankfurt Am Main, 60528
Germany
Tel: 49 (69) 66 30 07-73
Fax: 49 (69) 6 66 68 65
Web: www.lgid.de
Synthesis
Employees: 09
Company Type: Private Subsidiary
Corporate Family: 45
Companies
Ultimate Parent: LG
Corp.
Incorporation Date: 1977
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2010
Reporting Currency: Euro
Annual Sales: 592.2
Total Assets: 161.3
Business Description
LG International (Deutschland) GmbH is primarily engaged in wholesale of furniture; wholesale of jewellery; wholesale of musical instruments; wholesale of photographic goods; wholesale of toys and games; wholesale of travel and fancy goods; and wholesale of other household goods not elsewhere classified.
Industry
Industry Miscellaneous Capital Goods
ANZSIC 2006: 3419 - Other
Specialised Industrial Machinery and Equipment Wholesaling
NACE 2002: 5187 - Wholesale
of other machinery for use in industry, trade and navigation
NAICS 2002: 423830 -
Industrial Machinery and Equipment Merchant Wholesalers
UK SIC 2003: 5187 - Wholesale
of other machinery for use in industry, trade and navigation
US SIC 1987: 5084 - Industrial
Machinery and Equipment
Key Executives
Name Title
Youjin Kim Managing director
Registered No.(DEU): 23423
Corporate Overview
Location
Lyoner Strasse 15
Frankfurt Am Main, 60528
Germany
Tel: 49 (69) 66 30 07-73
Fax: 49 (69) 6 66 68 65
Web: www.lgid.de
Sales EUR(mil) : 447.2
Assets EUR(mil): 120.2
Employees: 09
Fiscal Year End: 31-Dec-2010
Industry: Miscellaneous
Capital Goods
Incorporation Date: 1977
Company Type : Private Subsidiary
Quoted Status: Not
Quoted
Registered No.(DEU): 23423
Managing director: Youjin
Kim
Contents
Industry Codes
Business Description
Financial Data
Industry Codes
ANZSIC 2006 Codes:
3419 - Other Specialised Industrial Machinery and Equipment
Wholesaling
NACE 2002 Codes:
5187 - Wholesale of other machinery for use in industry, trade and
navigation
NAICS 2002 Codes:
423830 - Industrial Machinery and Equipment Merchant Wholesalers
423840 - Industrial Supplies Merchant Wholesalers
US SIC 1987:
5084 - Industrial Machinery and Equipment
5085 - Industrial Supplies
UK SIC 2003:
5187 - Wholesale of other machinery for use in industry, trade and
navigation
Business
Description
Import, export and sale of consumer and industrial goods
More Business
Descriptions
· LG International (Deutschland) GmbH is primarily engaged in wholesale of furniture; wholesale of jewellery; wholesale of musical instruments; wholesale of photographic goods; wholesale of toys and games; wholesale of travel and fancy goods; and wholesale of other household goods not elsewhere classified.
· Trading Companies
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Corporate Family |
Corporate
Structure News: |
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LG International (Deutschland) GmbH |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Seoul |
Korea, Republic of |
Audio and Video Equipment |
9,079.4 |
77 |
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Subsidiary |
Seoul |
Korea, Republic of |
Electronic Instruments and Controls |
21,925.7 |
34,642 |
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Subsidiary |
San Jose, CA |
United States |
Electronic Instruments and Controls |
|
28 |
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Subsidiary |
Seoul |
Korea, Republic of |
Computer Networks |
1,440.6 |
7,000 |
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Subsidiary |
Incheon |
Korea, Republic of |
Engineering Consultants |
560.0 |
550 |
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Subsidiary |
Seoul |
Korea, Republic of |
Software and Programming |
411.9 |
70 |
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Subsidiary |
Almere, Flevoland |
Netherlands |
Software and Programming |
23.3 |
14 |
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Subsidiary |
Hayes |
United Kingdom |
Business Services |
0.3 |
2 |
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Subsidiary |
Seoul |
Korea, Republic of |
Personal and Household Products |
3,116.2 |
3,294 |
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Subsidiary |
Seoul, Seoul |
Korea, Republic of |
|
678.2 |
2,069 |
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Subsidiary |
Seoul |
Korea, Republic of |
Biotechnology and Drugs |
344.3 |
1,359 |
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Subsidiary |
London |
United Kingdom |
Biotechnology and Drugs |
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Subsidiary |
New Delhi |
India |
Business Services |
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Subsidiary |
Seoul |
Korea, Republic of |
Electronic Instruments and Controls |
12,624.7 |
673 |
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Joint Venture |
Hong Kong, Hong Kong |
Hong Kong |
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165 |
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Subsidiary |
Kumi, Kyongbuk-do |
Korea, Republic of |
Electronic Instruments and Controls |
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Subsidiary |
Central, Hong Kong Island |
Hong Kong |
Miscellaneous Capital Goods |
|
100 |
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Subsidiary |
Bogota, Cundinamarca |
Colombia |
Chemical Manufacturing |
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100 |
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Subsidiary |
Jakarta Selatan |
Indonesia |
Chemical Manufacturing |
|
100 |
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Subsidiary |
Bangkok |
Thailand |
Miscellaneous Capital Goods |
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100 |
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Subsidiary |
Seoul, Seoul |
Korea, Republic of |
Apparel and Accessories |
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55 |
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Subsidiary |
Cerritos, CA |
United States |
Electronic Instruments and Controls |
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40 |
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Branch |
Sydney, NSW |
Australia |
Engineering Consultants |
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4 |
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Branch |
Tehran |
Iran |
Engineering Consultants |
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Branch |
Santiago |
Chile |
Business Services |
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Subsidiary |
Singapore |
Singapore |
Electronic Instruments and Controls |
998.8 |
34 |
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Subsidiary |
Brentford |
United Kingdom |
Nonclassifiable Industries |
430.4 |
14 |
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Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Miscellaneous Capital Goods |
592.2 |
10 |
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Subsidiary |
Ho Chi Minh City |
Viet Nam |
Audio and Video Equipment |
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6 |
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Subsidiary |
Chaoyang District, Beijing |
China |
Miscellaneous Capital Goods |
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Subsidiary |
Buenos Aires, Buenos Aires |
Argentina |
Miscellaneous Capital Goods |
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Subsidiary |
Warsaw |
Poland |
Miscellaneous Capital Goods |
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Subsidiary |
Moscow |
Russian Federation |
Chemical Manufacturing |
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Subsidiary |
Jeddah, Makkah |
Saudi Arabia |
Miscellaneous Capital Goods |
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Subsidiary |
Taipei |
Taiwan |
Miscellaneous Capital Goods |
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Subsidiary |
Amman |
Jordan |
Miscellaneous Capital Goods |
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Subsidiary |
Gumi-si, Gyeongsangbuk-do |
Korea, Republic of |
Electronic Instruments and Controls |
258.3 |
450 |
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Subsidiary |
Seoul |
Korea, Republic of |
Business Services |
|
107 |
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Subsidiary |
Seoul |
Korea, Republic of |
Business Services |
29.4 |
50 |
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Subsidiary |
Seoul |
Korea, Republic of |
Computer Services |
2,018.6 |
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Subsidiary |
Seoul, Yeongdeungpo-gu |
Korea, Republic of |
Construction Services |
1,412.4 |
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Subsidiary |
Seoul |
Korea, Republic of |
Communications Equipment |
708.6 |
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Subsidiary |
Mapo-Gu |
Korea, Republic of |
Computer Hardware |
1.0 |
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Subsidiary |
Bangalore |
India |
Software and Programming |
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Subsidiary |
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Executive report
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Executives |
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Managing director |
Managing Director |
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Annual Profit & Loss
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|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate (Period
Average) |
0.755078 |
0.719047 |
0.683679 |
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Consolidated |
No |
No |
No |
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Total income |
592.2 |
279.0 |
130.2 |
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Raw materials and services |
587.9 |
276.7 |
123.6 |
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Net sales |
592.2 |
279.0 |
130.2 |
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Other operating income |
38.9 |
11.3 |
9.6 |
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Raw materials and consumables employed |
587.9 |
276.7 |
123.6 |
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Cost of goods sold |
587.9 |
276.7 |
123.6 |
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Cost of raw materials |
587.9 |
276.7 |
123.6 |
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Taxes and social security costs |
0.2 |
0.2 |
0.1 |
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Total payroll costs |
1.5 |
1.5 |
1.2 |
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Fixed asset depreciation and amortisation |
0.0 |
0.0 |
0.0 |
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Other operating costs |
83.5 |
23.9 |
31.8 |
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Net operating income |
-0.1 |
0.2 |
-0.9 |
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Other income |
0.0 |
0.0 |
0.2 |
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Interest payable on loans |
0.3 |
0.2 |
0.4 |
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Total expenses |
0.3 |
0.2 |
0.2 |
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Profit before tax |
-0.4 |
0.0 |
-1.2 |
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Provisions |
0.2 |
0.1 |
0.1 |
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Total taxation |
0.0 |
0.0 |
0.9 |
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Net loss |
-0.4 |
0.0 |
-2.0 |
Annual Balance Sheet
Financials in: USD (mil)
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|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Issued capital |
12.8 |
13.6 |
13.2 |
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Profits for the year |
-8.3 |
-8.5 |
-8.2 |
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Profit brought forward from previous year(s) |
-7.9 |
-8.4 |
-6.2 |
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Total stockholders equity |
4.5 |
5.2 |
5.1 |
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Other provisions |
0.2 |
0.1 |
0.1 |
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Provisions and allowances |
0.2 |
0.1 |
0.1 |
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Trade creditors |
9.9 |
16.9 |
4.1 |
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Advances received |
1.6 |
- |
0.0 |
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Other loans |
15.4 |
3.6 |
5.1 |
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Taxation and social security |
0.0 |
2.1 |
0.4 |
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Due to group companies |
129.7 |
88.0 |
29.6 |
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Total current liabilities |
156.6 |
110.6 |
39.2 |
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Total liabilities (including net worth) |
161.3 |
115.9 |
44.3 |
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Patents |
0.1 |
0.1 |
0.1 |
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Intangibles |
0.1 |
0.1 |
0.1 |
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Total tangible fixed assets |
0.0 |
0.0 |
0.0 |
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Long-term investments |
0.0 |
0.0 |
0.0 |
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Total financial assets |
0.0 |
0.0 |
0.0 |
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Total non-current assets |
0.1 |
0.1 |
0.2 |
|
Finished goods |
111.2 |
59.2 |
17.6 |
|
Prepayments |
0.9 |
- |
0.1 |
|
Net stocks and work in progress |
112.1 |
59.2 |
17.7 |
|
Trade debtors |
40.1 |
48.5 |
8.0 |
|
Other receivables |
0.3 |
3.0 |
0.7 |
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Total receivables |
42.5 |
51.5 |
16.3 |
|
Owing from associated companies |
2.0 |
0.0 |
7.6 |
|
Cash and liquid assets |
6.5 |
5.0 |
9.7 |
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Marketable securities |
- |
- |
0.4 |
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Short-term investments |
- |
- |
0.4 |
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Total current assets |
161.1 |
115.7 |
44.1 |
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Prepaid expenses and deferred costs |
0.1 |
0.1 |
0.1 |
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Total assets |
161.3 |
115.9 |
44.3 |
Annual Ratios
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Current ratio |
10.28 |
10.46 |
11.25 |
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Acid test ratio |
3.13 |
5.11 |
6.75 |
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Total liabilities to net worth |
3.51% |
2.13% |
0.78% |
|
Net worth to total assets |
0.00% |
0.00% |
0.01% |
|
Current liabilities to net worth |
3.51% |
2.13% |
0.78% |
|
Current liabilities to stock |
0.14% |
0.19% |
0.22% |
|
Fixed assets to net worth |
0.00% |
0.00% |
0.00% |
|
Collection period |
245.00 |
613.00 |
237.00 |
|
Stock turnover rate |
1.87 |
2.06 |
1.43 |
|
Profit margin |
0.00% |
- |
0.00% |
|
Return on assets |
- |
0.00% |
0.00% |
|
Shareholders' return |
-0.01% |
0.00% |
-0.04% |
|
Sales per employee |
4,968.40 |
2,006.48 |
1,112.78 |
|
Profit per employee |
-3.22 |
-0.27 |
-17.43 |
|
Average wage per employee |
12.56 |
10.55 |
9.95 |
|
Net worth |
4.5 |
5.2 |
5.1 |
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Number of employees |
9 |
10 |
8 |
DIAMOND INDUSTRY –
INDIA
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From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
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The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
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Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
-
The diamond jewellery industry in India today may be
more than Rs 60000 mil and is rated amongst the fastest growing in the
world. Indi ranks third in the world in domestic diamond consumption.
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Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
DIAMOND SAGA – DIRTY DOZEN STUCK WITH 2K CR DEBT
This could be the biggest credibility crisis
the Indian diamond industry has ever faced. Fifteen banks run the risk of losing
Rs 2000 crore lent to a dozen diamond firms in Surat. Until about two months
ago, they had not repaid these dues. Bankers believe many diamantaires
borrowed money during the economic downturn two years ago and diverted funds to
businesses like real estate and capital markets. Many of themselves made money
from these businesses but their diamond companies have gone sick and declared
insolvency.
-
Most of the money borrowed from the banks in the name
of their diamond business has been diverted in real estate and the share
market. The banks are not in a position to seize their properties because in
many cases, these were purchased in the name of their relatives and friends.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.64 |
|
UK Pound |
1 |
Rs.86.42 |
|
Euro |
1 |
Rs.69.29 |
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.