MIRA INFORM REPORT

 

 

Report Date :

16.11.2012

 

IDENTIFICATION DETAILS

 

Name :

SAMSUNG MEDICAL RUBBER CO., LTD.

 

 

Registered Office :

474-4, Mongnae-dong, Danwon-gu, Ansan-si, Gyeonggi-do

 

 

Country :

South Korea

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

12.03.1979

 

 

Com. Reg. No.:

134-81-03430

 

 

Legal Form :

Co., Ltd by Shares

 

 

Line of Business :

Manufacture of Apparel and Other Hygienic Articles of Rubber

 

 

No. of Employees :

48

 

 

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 :

Unknown

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

South Korea

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

SOUTH KOREA - ECONOMIC OVERVIEW

 

South Korea over the past four decades has demonstrated incredible growth and global integration to become a high-tech industrialized economy. In the 1960s, GDP per capita was comparable with levels in the poorer countries of Africa and Asia. In 2004, South Korea joined the trillion dollar club of world economies, and currently is among the world's 20 largest economies. Initially, a system of close government and business ties, including directed credit and import restrictions, made this success possible. The government promoted the import of raw materials and technology at the expense of consumer goods, and encouraged savings and investment over consumption. The Asian financial crisis of 1997-98 exposed longstanding weaknesses in South Korea''s development model including high debt/equity ratios and massive short-term foreign borrowing. GDP plunged by 6.9% in 1998, and then recovered by 9% in 1999-2000. Korea adopted numerous economic reforms following the crisis, including greater openness to foreign investment and imports. Growth moderated to about 4% annually between 2003 and 2007. With the global economic downturn in late 2008, South Korean GDP growth slowed to 0.3% in 2009. In the third quarter of 2009, the economy began to recover, in large part due to export growth, low interest rates, and an expansionary fiscal policy, and growth was 3.6% in 2011. In 2011, the US-South Korea Free Trade Agreement was ratified by both governments and is projected to go into effect in early 2012. The South Korean economy''s long term challenges include a rapidly aging population, inflexible labor market, and heavy reliance on exports - which comprise half of GDP.

 

Source : CIA

Basic

 

Company Name

SAMSUNG MEDICAL RUBBER CO., LTD.

(Korean Company Name : “삼성의료고무(주)”)

Registered Address

474-4, Mongnae-dong, Danwon-gu, Ansan-si, Gyeonggi-do, Korea

Zip Code

425-100

Tel

+82-31-4918071

Fax

+82-31-4918074

E-mail

trade@samsungrubber.com

Website

www.samsungrubber.com

Trading Address

363-6, Seogyo-dong, Mapo-gu, Seoul, Korea

Tel

+82-2-333-7931~5

Fax

+82-2-333-7936

Type

Export/Import

Industry

Manufacture of Apparel and Other Hygienic Articles of Rubber

  Main Business

Rubber Gasket, Rubber Stopper, Rubber Connecter, Spoid

  Sub Business

 

Established (mm/dd/yyyy)

03/12/1979

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Enteral feeding set adapters or connectors or extensions(42231505)

Sell

Gaskets(31181500)

Sell

Caps or tops(24122004)

Buy

Natural rubber(13101500)

Buy

Elastomers(13101700)

 

 

CEO’s

 

Name

Chung Joon-Soo

Address

Suite 5-103, 252-7, Segeomjeong-ro 9-gil, Jongno-gu, Seoul, Korea

Date of Birth

01/20/1942

Title

Co-President & CEO

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

160,000,000

Employees

48

Formation

Co., Ltd by Shares

Bank Details

Shinhan Bank-Seokyo-Dong Branch

Corporate Registered No.

1301110-008531

Business Registered No.

134-81-03430

Permit & Licenses

03/1998 ISO 9001

08/1999 ISO 9002

 

Int’l Trade No.: 941918

Shareholder Position

N/A

Company History

03/12/1979 Incorporated as the present name

05/1999 Designated as a Venture Business

 

 

 

 

Detailed Information

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

Co-President & CEO

Mr.

Chung Joon-Soo

Male

Korean

03/29/2001

Co-President & CEO

Mr.

Chung Jae-Hak

Male

Korean

01/07/2011

Auditor

M/S.

Lee Soon-Ja

Female

Korean

03/29/2007

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2011

 

 

 

2010

 

 

 

2009

11,745,000,000

5,551,000,000

485,000,000

2008

11,249,000,000

5,276,000,000

281,000,000

2007

7,717,000,000

5,030,000,000

434,000,000

2006

 

 

 

2005

 

 

 

2004

 

 

 

2003

 

 

 

The latest financials are not available, and the Subject Company does not have any obligations to release its financials to the public.

 

Financial Description

 

Authorized Capital(KRW)

160,000,000

Paid-Up Capital(KRW)

160,000,000

Total Issued Shares

16,000

 

 

Balance Sheet

 

Unit : Korean Won

As of 12/31/2010

As of 12/31/2009

As of 12/31/2008

Total Assets

 

5,551,000,000

5,276,000,000

Current Assets

 

-

3,860,000,000

-Quick Assets

 

-

3,264,000,000

-Inventories

 

-

595,000,000

Fixed Assets

 

-

1,417,000,000

-Investment

 

-

-

-Tangibles

 

-

1,297,000,000

-Intangibles

 

-

58,000,000

Total Liabilities

 

3,350,000,000

3,560,000,000

Current Liabilities

 

-

2,631,000,000

Fixed Liabilities

 

-

929,000,000

Capital Stock

 

-

160,000,000

Capital Surplus

 

-

-

Profit Surplus

 

2,041,000,000

1,556,000,000

Capital Adjustment

 

-

-

Total Equity

 

2,201,000,000

1,716,000,000

Liab. & Shareholder’s Equity

 

5,551,000,000

5,276,000,000

 

 

Income Statement

 

Unit : Korean Won

As of 12/31/2010

As of 12/31/2009

As of 12/31/2008

Sales

 

11,745,000,000

11,249,000,000

Cost of Sold Goods

 

-

8,624,000,000

Gross Profit

 

-

2,625,000,000

Selling & Admin. Expenses

 

-

1,592,000,000

Operating Income

 

-

1,033,000,000

Non-Operating Income

 

-

257,000,000

Non-Operating Expenses

 

-

993,000,000

Income Before Taxes

 

-

296,000,000

Income Taxes Expenses

 

-

15,000,000

Net Income

 

485,000,000

281,000,000

 

 

 

Products, Technologies, Services Description

 

Main Products & Services

Rubber Gasket, Rubber Stopper, Rubber Connecter, Spoid

 

 

Trade Partners & Competitors

 

Customers

 

Competitors

S&W CORPORATION(180111-0095637)

KOREA FLANGE CO., LTD.(181211-0000443)

DAECHANG FORGING CO., LTD(180111-0039396)

 

DONG YANG FRON-TECH CO., LTD.(134111-0052336)

689-41, GEUMJEONG-DONG, GUNPO-SI, GYEONGGI-DO, KOREA

TEL:+82-31-452-7787  FAX:+82-31-452-6669

 

 

Related Parties (Subsidiaries, Joint-Venture & Affiliates)

 

Affiliates

 

Overseas Office

SMRC(MALAYSIA) SDN. BHD (MALYSIA FACTORY)

LOT 754, JALAN SUNGAI TEKALI, ULU LANGAT, 43100, SELANGOR DARUL EHSAN

TEL: +60-3-9021-3597/9  FAX: +60-3-9021-3600

 

 

Sales by Region (Activity & Markets)

 

The Subject exports to Malaysia, Saudi Arabia, Egypt and USA.

 

 

Court Action

 

Not Available.

 

 

News Clipping

 

--

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.93

UK Pound

1

Rs.87.38

Euro

1

Rs.69.93

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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.