MIRA INFORM REPORT
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Report Date : |
20.10.2012 |
IDENTIFICATION DETAILS
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Name : |
HANSOL TECHNICS CO., LTD. |
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Formerly Known As : |
HANSOL LCD CO., LTD. |
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Registered Office : |
203, Euljiro 2-ga, Jung-gu, Seoul, Korea, 5th Fl., B-dong,
Pine Avenue, Zip Code 100-192 |
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Country : |
South Korea |
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Financials (as on) : |
30.06.2012 |
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Date of Incorporation : |
20.08.1966 |
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Com. Reg. No.: |
120-81-53945 |
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Legal Form : |
Listed Company |
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Line of Business : |
Manufacturer of Electronic Valves and Tubes |
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No. of Employees : |
1,295 employees |
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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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South korea |
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 |
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.
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Source : CIA |
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Company Name |
HANSOL TECHNICS CO., LTD. (Ex. Company Name : HANSOL LCD CO., LTD., “한솔LCD(주)”) (Korean Company Name : “한솔테크닉스(주)”) |
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Registered Address |
203, Euljiro 2-ga, Jung-gu, Seoul, Korea |
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Building |
5th Fl., B-dong, Pine Avenue |
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Zip Code |
100-192 |
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Tel |
+82-2-3287-7903 |
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Fax |
+82-2-3287-7909 |
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E-mail |
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Website |
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Trading Address |
5th Fl., B-dong, Pine Avenue, 203, Euljiro
2-ga, Jung-gu, Seoul, Korea |
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Tel |
+82-2-3287-7903 |
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Fax |
+82-2-3287-7909 |
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Other Address-Jincheon Factory |
27-29, Hancheon-ri, Deoksan-myeon,
Jincheon-gun, Chungcheongbuk-do, Korea |
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Tel |
+82-43-530-8000 |
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Fax |
+82-43-536-8105 |
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Other Address-Ochang Factory |
1112-1, Namchon-ri, Oksan-myeon, Cheongwon-gun,
Chungbuk, Korea |
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Tel |
+82-43-219-3000 |
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Fax |
+82-43-219-3225 |
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Type |
Export/Import |
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Industry |
Manufacture of Electronic Valves and Tubes |
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Main Business |
Back Light Unit, Inverter, Cathode Ray Tube Monitor, LCD Monitor |
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Established (mm/dd/yyyy) |
08/20/1966 |
The Subject owns the
premises of Jincheon Factory.
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Cathode ray tube CRT monitors(43211901) |
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Sell |
Televisions(52161505) |
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Sell |
Liquid crystal display LCD panels or
monitors(43211902) |
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Sell |
Computer display accessories(43212000) |
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Sell |
Light emitting
diodes LEDs(32111503) |
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Name |
Kim Chi-Woo |
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Date of Birth |
09/07/1950 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
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Capital (KRW) |
57,842,465,000 |
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Employees |
1,295 |
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Formation |
Listed Company (Korea Stock Exchange : 004710) as of 07/06/1998 A Company of HANSOL GROUP |
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Bank Details |
Nonghyup Bank Hana Bank Korea Development Bank |
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Corporate Registered No. |
110111-0004682 |
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Business Registered No. |
120-81-53945 |
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Permit & Licenses |
Int’l Trade No.: 680341 |
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Shareholder Position |
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Company History |
08/20/1966 Incorporated as HANKUK MABEL
CO., LTD. 11/1995 Changed company name to HANSOL
ELECTRONICS CO., LTD. 03/28/2003 Changed company name to HANSOL LCD CO., LTD. 11/15/2005 Moved to the present HQ address 03/02/2007 Acquired S-LIGHTECH CO.,
LTD.(110111-3290725) 10/29/2010 Acquired CRYSTALON CO.,
LTD.(110111-3082479) 12/10/2010 Changed company name to the present name 01/04/2012 Moved to the present HQ address from 11th Fl., Hansol
Bldg., 736-1, Yeoksam 1-dong, Gangnam-gu, Seoul, Korea |
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Job Description |
Title |
Name |
Sex |
Nationality |
Date of Birth |
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President & CEO |
Mr. |
Kim Chi-Woo |
Male |
Korean |
1950.09.07 |
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Director |
Mr. |
Kim Hern-Mok |
Male |
Korean |
1954.03.01 |
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Executive Director |
Mr. |
Park Soo-Hee |
Male |
Korean |
1959.08.25 |
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Outside Director |
Mr. |
Choi Jong-Deok |
Male |
Korean |
1953.08.25 |
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Auditor |
Mr. |
Lee Jong-Hae |
Male |
Korean |
1951.08.07 |
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Year / Unit : KRW |
Sales |
Assets |
Net Income |
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(*)03/2012 |
135,547,945,007 |
510,878,258,190 |
-8,764,591,451 |
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(*)2011 |
890,101,316,818 |
475,129,084,355 |
-18,935,586,848 |
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(*)2010 |
1,531,558,940,151 |
336,634,710,455 |
7,810,284,380 |
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2009 |
1,102,193,809,435 |
231,473,447,156 |
21,159,474,501 |
|
2008 |
1,095,765,792,935 |
214,795,035,243 |
6,321,824,106 |
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2007 |
744,449,656,974 |
222,844,312,473 |
9,240,508,196 |
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2006 |
881,712,357,283 |
186,774,580,004 |
38,558,758,777 |
|
2005 |
596,013,971,554 |
192,228,882,922 |
22,278,292,549 |
(*)Figures are based
on the K-IFRS Accounting System.
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Authorized Capital(KRW) |
150,000,000,000 |
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Paid-Up Capital(KRW) |
57,842,465,000 |
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Total Issued Shares |
11,568,493 |
Balance
Sheet
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Unit : Korean Won |
01/01/2012~06/30/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
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Total Assets |
494,953,710,480 |
475,129,084,355 |
336,634,710,455 |
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Current Assets |
109,055,905,743 |
108,939,770,808 |
146,708,831,514 |
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Inventories |
26,121,276,692 |
25,773,421,198 |
30,744,562,525 |
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Trade Receivables
& Other Receivables |
76,812,495,636 |
81,035,804,806 |
103,694,454,352 |
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Derivatives |
255,444,276 |
261,370,478 |
452,741,921 |
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Current Non-Financial
Instruments |
3,398,134,381 |
1,674,563,281 |
5,669,968,470 |
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Cash & Cash
Equivalents |
2,468,554,758 |
194,611,045 |
6,147,104,246 |
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Non-Current Assets |
385,897,804,737 |
366,189,313,547 |
189,925,878,941 |
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Tangibles |
287,247,821,528 |
270,014,653,999 |
125,095,495,289 |
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Intangibles |
42,693,336,971 |
43,101,537,256 |
4,997,622,021 |
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Investment_Related
Companies |
40,553,925,757 |
38,211,635,505 |
54,325,082,585 |
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Marketable Financial
Instruments |
154,070,369 |
154,070,369 |
154,070,369 |
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Deferred Income Tax
Assets |
12,811,253,187 |
12,005,274,624 |
3,560,662,904 |
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Non-Current
Non-Financial Instruments |
2,437,396,925 |
2,702,141,794 |
1,792,945,773 |
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Total
Liabilities |
277,976,225,697 |
290,809,105,243 |
165,494,253,472 |
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Current Liabilities |
118,403,295,333 |
133,276,340,191 |
135,588,046,733 |
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Trade Payables &
Other Payables |
76,066,572,925 |
75,572,355,157 |
117,962,195,126 |
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Short-Term Borrowings |
20,000,000,000 |
49,168,898,404 |
12,000,000,000 |
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Derivatives |
443,173,473 |
278,826,457 |
433,647,532 |
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Current Portion of
Long-Term Debts |
19,666,720,000 |
2,818,400,000 |
284,725,000 |
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Other Current
Financial Debts |
1,251,139,733 |
1,198,178,821 |
0 |
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Accrued Income Tax |
0 |
2,755,941,761 |
2,990,002,251 |
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Other Current
Non-Financial Debts |
975,689,202 |
1,483,739,591 |
1,917,476,824 |
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Non-Current Liabilities |
159,572,930,364 |
157,532,765,052 |
29,906,206,739 |
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Long-Term Borrowings |
123,237,170,122 |
140,598,141,979 |
14,000,000,000 |
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Debentures |
20,000,000,000 |
0 |
0 |
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Provision for
Severance & Retirement |
15,022,414,952 |
15,130,762,028 |
15,759,272,020 |
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Account Payables |
683,198,909 |
532,182,453 |
0 |
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Long-Term Finance Lease Debts |
512,066,353 |
1,140,095,107 |
0 |
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Provision for Sales Guarantee |
118,080,028 |
131,583,485 |
146,934,719 |
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Capital Stock |
57,842,465,000 |
42,846,265,000 |
38,206,890,000 |
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Capital Surplus |
130,807,000,242 |
96,404,677,418 |
45,114,613,113 |
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Profit Surplus |
51,675,410,677 |
68,585,338,596 |
89,157,704,941 |
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Others |
-23,347,391,136 |
-23,516,301,902 |
-1,338,751,071 |
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Total Equity |
216,977,484,783 |
184,319,979,112 |
171,140,456,983 |
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Liab. &
Shareholder’s Equity |
494,953,710,480 |
475,129,084,355 |
336,634,710,455 |
Income Statement
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Unit : Korean Won |
01/01/2012~06/30/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
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Sales |
287,890,372,392 |
890,101,316,818 |
1,531,558,940,151 |
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Cost of Sold Goods |
283,854,873,820 |
864,290,975,603 |
1,471,254,839,964 |
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Gross Profit |
4,035,498,572 |
25,810,341,215 |
60,304,100,187 |
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Selling & Admin.
Expenses |
18,531,474,382 |
46,312,489,222 |
40,629,067,087 |
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Other Operating
Income |
1,603,209,015 |
3,816,145,020 |
4,825,731,651 |
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Other Operating
Expenses |
180,011,484 |
2,294,743,653 |
2,392,984,711 |
|
Operating Income |
-13,072,778,279 |
-18,980,746,640 |
22,107,780,040 |
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Other Profits |
0 |
1,528,726,720 |
-8,847,799,050 |
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Finance Income |
5,710,111,342 |
17,337,487,382 |
45,301,333,002 |
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Finance Expenses |
10,067,051,346 |
24,697,433,839 |
45,898,102,796 |
|
Income Before Taxes |
-17,429,718,283 |
-24,811,966,377 |
12,663,211,196 |
|
Income Taxes Expenses |
-540,686,704 |
-5,876,379,529 |
4,852,926,816 |
|
Net Income |
-16,889,031,579 |
-18,935,586,848 |
7,810,284,380 |
Cash Flows
|
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Unit : Korean Won |
01/01/2011~06/30/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
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Operating
Activities Cash Flows |
-8,163,252,755 |
-11,650,995,663 |
594,156,154 |
|
Net Income |
-16,889,031,579 |
-18,935,586,848 |
7,810,284,380 |
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Adjustment |
16,049,760,780 |
21,430,647,725 |
26,298,114,045 |
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Changes in Asset/ & Liability |
1,157,273,093 |
-7,850,169,919 |
-30,376,872,968 |
|
Interests Paid |
-5,531,095,376 |
-4,253,703,524 |
-1,053,571,342 |
|
Interests Received |
71,073,947 |
117,045,868 |
608,752,395 |
|
Income Taxes |
-3,021,233,620 |
-2,159,228,965 |
-2,692,550,356 |
|
Cash Flows from Investing |
-28,647,360,110 |
-147,312,160,443 |
-58,851,772,022 |
|
Cash Flows from Financing |
39,084,556,578 |
153,010,662,905 |
47,711,167,451 |
|
Increase/Decrease in Cash |
2,273,943,713 |
-5,952,493,201 |
-10,546,448,417 |
|
Cash at the Beginning of Year |
194,611,045 |
6,147,104,246 |
16,693,552,663 |
|
Cash at the End of Year |
2,468,554,758 |
194,611,045 |
6,147,104,246 |
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Main Products & Services |
Back Light Unit, Inverter, Cathode Ray Tube Monitor, LCD Monitor Brand Name : Hansol |
|
Suppliers |
SAMSUNG ELECTRONICS CO., LTD.(130111-0006246) 3M KOREA LTD.(110111-0219356) SHINWHA INTERTEK CORP.(134811-0011677) SAMSUNG ELECTRO-MECHANICS CO., LTD.(130111-0001626) |
|
Customers |
SAMSUNG ELECTRONICS CO., LTD.(130111-0006246) HANSOL LCD SLOVAKIA S.R.O. HANSOL ELECTRONICS (THAILAND) CO., LTD. |
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Competitors |
DS LCD CO., LTD. 583-2, GEUMGOK-RI, DONGTAN-MYEON,
HWASEONG-SI, GYEONGGI-DO, KOREA TEL:+82-31-378-6700 FAX:+82-31-378-6711 NEW OPTICS LTD. GUAM LOCAL INDUSTRIAL COMPLEX, 203,
GUAM-RI, NAM-MYEON, YANGJU-SI, GYEONGGI-DO, KOREA TEL:+82-31-860-7700 FAX:+82-31-860-7771 DAESUNG ELECTRIC CO., LTD. 8B-27L, BANWOL INDUSTRIAL COMPLEX, 743-5,
WONSI-DONG, DANWON-GU, ANSAN-SI, GYEONGGI-DO, KOREA TEL:+82-31-494-1141 FAX:+82-31-495-4887 |
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates-Domestic |
HANSOL PAPER CO., LTD.(110111-0017867) HANSOL HOMEDECO CO.,LTD.(110111-0825624) HANSOL CHEMICAL CO., LTD(110111-0270895) HANSOL CONSTRUCTION
CO.,LTD.(110111-2664400) HANSOL DEVELOPMENT CO.,
LTD.(141211-0005540) HANSOL CSN CO.,LTD(110111-0150659) HANSOL EME CO., LTD.(160111-0123185) INNOPTIX CO.,LTD(110111-2296253) HANSOL PNS CO.,LTD. (110111-0175970) SEOUL PAPER CO., LTD.(110111-0990609) CNP CHEMICAL CO., LTD.(124411-0043349) E-SERVICE CO.,LTD.(284311-0011634) SEOUL PAPER CO.,LTD.(110111-0990609) MUNGYEONG ESCO CO.,LTD.(131311-0079553) HANSOL INTICUBE CO., LTD.(110111-2915605) MAUL SOUP CO., LTD.(110111-3858078) ARTONE PAPER MFG. CO.,LTD.(134811-0000034) ILJIN PAPER CO.,LTD.(110111-0641327) HANSOL LIGHTING INC.(110111-3626003) (24.0% held by the subject company) |
|
Affiliates-Overseas |
GLOBAL FIBRES INC. SOUTH CHINA PAPER HANSOL AUSTRALIA C. K. FIBERS HANSOL HONG KONG HANSOL P.I. HANSOL NEW ZEALAND KOPRI HANSOL ELECTRONICS THAILAND BRIGHTECH CO., LTD. HANSOL LCD SLOVAKIA S.R.O KOREA INTERNATIONAL FREIGHT TRANSPORTATION
(SHANGHAI) CO., LTD. KOREA INTERNATIONAL FREIGHT TRANSPORTATION
(TENJIN) CO., LTD. HANSOL GOLDPOINT TIANJIN DAEYOUNG PAINT CO.LTD HANSOL CSN LOGISTICS INDIA PRIVATE LIMITED TIANJIN OPTOWAVE CO., LTD |
|
Subsidiary |
HANSOL ELECTRONICS (THAILAND) CO., LTD. (100.0% held by the subject company) HANSOL LCD SLOVAKIA S.R.O. (77.9% held by the subject company) |
|
Cooperative Enterprise |
-Insured Company SAMSUNG FIRE & MARINE INSURANCE CO., LTD.(110111-0005078) |
(Activity & Markets)
|
Sales/ Unit :Mil KRW |
06/2012 |
2011 |
2010 |
|
Export |
250,708 |
791,018 |
1,460,308 |
|
Domestic |
37,182 |
99,083 |
71,251 |
|
Total |
287,890 |
890,101 |
1,531,559 |
The Subject exports
to Europe, North America and Asia.
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.96 |
|
UK Pound |
1 |
Rs.85.45 |
|
Euro |
1 |
Rs.69.46 |
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.