|
Report Date : |
21.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
BASF COMPANY LTD. |
|
|
|
|
Registered Office : |
373-15, Hwachi-dong, Yeosu-si, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
15.12.1988 |
|
|
|
|
Com. Reg. No.: |
417-81-04858 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Manufacture of Basic Organic Petrochemicals |
|
|
|
|
No. of Employees : |
932 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
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 – 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 |
|
Source : CIA |
|
Company
Name |
BASF COMPANY LTD. (Korean Company Name : “한국바스프(주)”) |
|
Registered Address |
373-15, Hwachi-dong, Yeosu-si, |
|
Zip Code |
555-280 |
|
Tel |
+82-61-680-7000 |
|
Fax |
+82-61-684-7260 |
|
E-mail |
|
|
Website |
|
|
Trading Address |
14th |
|
Tel |
+82-2-3707-3100 |
|
Fax |
+82-2-3707-3122 |
|
Other Address-Ulsan Site-Plastics Factory Ⅰ |
472-1, |
|
Tel |
+82-52-279-5800 |
|
Fax |
+82-52-272-4801 |
|
Other Address-Ulsan Site-Plastics Factory Ⅱ |
569-30, |
|
Tel |
+82-52-279-9500 |
|
Fax |
+82-52-279-9501 |
|
Other Address-Ansan Factory |
607B-22, Banwol Industrial Complex, 631-3,
Seonggok-dong, Danwon-gu, Ansan-si, |
|
Tel |
+82-31-599-7513 |
|
Fax |
+82-31-599-7506 |
|
Other Address-Hwaseong Factory |
870, |
|
Tel |
+82-52-278-2000 |
|
Fax |
+82-52-278-2001 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Basic Organic
Petrochemicals |
|
Main Business |
Styrofoam, L-Lysine, EPS, PS, ABS, MPI, TPI |
|
Established (mm/dd/yyyy) |
12/15/1988 |
The Subject owns the premises of registered
address/factory.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Polyurethane resins(13111061) |
|
Sell |
Polystyrene foam(13111308) |
|
Sell |
Acrylonitrile butadiene styrene resin(13111004) |
|
Sell |
Chemicals including Bio Chemicals and Gas Materials(12000000) |
|
Sell |
Organic derivatives and substituted compounds(12352100) |
|
Sell |
Surfactants(12161900) |
|
Sell |
Inorganic compounds(12352300) |
|
Sell |
Pigments(12171600) |
|
Sell |
Other adhesives and sealants(31201600) |
|
Sell |
Drugs and Pharmaceutical Products(51000000) |
|
Sell |
Plasticizers(12162000) |
|
Sell |
Inorganic compounds(12352300) |
|
Sell |
Organic peroxides(12352120) |
|
Name |
Shin Woo-Sung |
|
Address |
|
|
Date of Birth |
09/12/1957 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
481,729,000,000 |
|||||||||
|
Employees |
932 |
|||||||||
|
Formation |
Co., Ltd by shares Foreign Direct Investment Corporation |
|||||||||
|
Bank Details |
Korea Exchange Bank –Sales 1 Division |
|||||||||
|
Corporate Registered No. |
110111-0600860 |
|||||||||
|
Business Registered No. |
417-81-04858 |
|||||||||
|
Permit & Licenses |
05/1999 ISO 9001 Int’l Trade No.: 429296 |
|||||||||
|
Shareholder Position |
|
|||||||||
|
Company History |
1954 Entered Korea as FOHAG(Far East
Trading Company) 1980 Established as Hyosung BASF 1982 Established BASF KOREA CO., LTD. 12/1988 Established HANYANG BASF URETHANE
CO., LTD. 12/1997 Changed company name to BASF
URETHANE KOREA CO., LTD. 03/1998 Changed company name to BASF KOREA
STILENIX CO., LTD. 05/1998 Acquired Lysine Business Division
from Daesang Corporation 12/1998 Acquired Polyol Business Division
from Dong Sung Chemical Co., Ltd. 12/1998 Incorporated as BASF KOREA CO.,
LTD with the acquisition of BASF URETHANE KOREA CO., LTD., BASF KOREA
STILENIX CO., LTD. and BASF KOREA CO., LTD. 11/2000 Awarded US$500 Million Export Top
Prize 06/2001 Acquired SK Evertech's SM Factory 10/2001 Increased capital to
404,650,000,000 KRW from 354,650,000,000 KRW 05/2003 Acquired Engineering Plastic
Business Division from Honeywell 04/2005 Acquired BASF AGRO KOREA CO., LTD. 10/2006 Acquired the operation part of
BASF Resin Co., Ltd. 07/31/2007 Increased the authorized shares
to 94,930,000 shares from 80,930,000 KRW 01/2008 Sold Gunsan Factory(Lysine: 228,
Soryong-dong, Gunsan-si, Jeollabuk-do, Korea) to PAIKKWANG INDUSTRIAL CO.,
LTD.(110111-0003709) at USD27,000,000. 05/21/2009 increased capital to
464,650,000,000 KRW from 404,650,000,000 KRW 08/03/2009 Decided to sell Ulsan SM
Factory to SK ENERGY CO., LTD.(110111-3710385) 02/01/2010 Acquired CIBA SPECIALTY
CHEMICALS KOREA LTD.(110111-0714406) and DAIHAN SWISS CHEMICAL
CORP.(110111-0307325) 01/01/2011 Split off KS Divisions, and
transferred to STYROLUTION KOREA LTD.(230111-0148328) 01/01/2011 Acquired COGNIS KOEA
LTD.(110111-2865090) 08/31/2012 Increased the authorized shares
to 100,930,000 shares from 94,930,000 shares 09/14/21012 increased capital to
481,729,000,000 KRW from 464,650,000,000 KRW |
|||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Shin Woo-Sung |
Male |
Korean |
03/02/2009 |
|
Director |
Mr. |
Georg Gotbrat |
Male |
German |
08/01/2007 |
|
Director |
Mr. |
Saoriul Rikedu Borg |
Male |
German |
11/01/2009 |
|
Director |
Mr. |
Jacob Nielson |
Male |
Swedish |
05/01/2011 |
|
Auditor |
Mr. |
Wolfro Light |
Male |
German |
05/01/2011 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
1,981,901,124,110 |
1,314,309,031,536 |
228,920,128,968 |
|
|
2010 |
2,905,643,816,960 |
1,328,755,510,275 |
277,702,346,311 |
|
2009 |
2,182,467,001,023 |
1,131,492,742,826 |
252,650,621,415 |
|
2008 |
2,409,606,875,106 |
1,005,708,769,659 |
90,382,545,153 |
|
2007 |
2,154,041,355,519 |
1,154,047,696,907 |
179,289,618,386 |
|
2006 |
1,908,768,117,693 |
1,236,191,744,609 |
169,881,499,330 |
|
2005 |
2,088,248,977,659 |
1,326,167,222,613 |
128,075,379,460 |
|
2004 |
1,960,457,253,117 |
1,454,917,869,412 |
47,803,170,535 |
|
2003 |
1,383,330,951,764 |
1,461,689,186,845 |
(-)24,016,453,546 |
|
Authorized Capital(KRW) |
504,650,000,000 |
|
Paid-Up Capital(KRW) |
481,729,000,000 |
|
Total Issues Shares |
96,345,800 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Total Assets |
1,314,309,031,536 |
1,328,755,510,275 |
1,131,492,742,826 |
|
Current Assets |
909,231,830,642 |
837,893,786,409 |
624,467,263,771 |
|
-Quick Assets |
751,182,225,062 |
621,441,550,163 |
490,761,618,368 |
|
-Inventories |
158,049,605,580 |
216,452,236,246 |
133,705,645,403 |
|
Fixed Assets |
405,077,200,894 |
490,861,723,866 |
507,025,479,055 |
|
-Investment |
31,850,827,515 |
57,371,472,107 |
64,510,601,474 |
|
-Tangibles |
347,097,818,824 |
401,212,097,817 |
410,360,929,883 |
|
-Intangibles |
10,971,470,483 |
13,978,047,361 |
12,705,739,847 |
|
-Others |
15,157,084,072 |
18,300,106,581 |
19,448,207,851 |
|
Total Liabilities |
460,653,502,597 |
455,130,792,650 |
336,326,111,529 |
|
Current Liabilities |
436,177,268,194 |
444,467,855,649 |
313,578,736,480 |
|
Fixed Liabilities |
24,476,234,403 |
10,662,937,001 |
22,747,375,049 |
|
Capital Stock |
464,650,000,000 |
464,650,000,000 |
464,650,000,000 |
|
Capital Surplus |
57,935,544,012 |
54,587,882,666 |
24,498,419,649 |
|
Profit Surplus |
330,402,565,927 |
353,939,114,959 |
305,919,151,648 |
|
Capital Adjustment |
667,419,000 |
447,720,000 |
99,060,000 |
|
Total Equity |
853,655,528,939 |
873,624,717,625 |
795,166,631,297 |
|
Liab. & Shareholder’s Equity |
1,314,309,031,536 |
1,328,755,510,275 |
1,131,492,742,826 |
|
Current
Liabilities |
436,177,268,194 |
444,467,855,649 |
313,578,736,480 |
|
Trade
Payables |
242,470,695,355 |
362,230,593,162 |
278,975,971,331 |
|
Account
Payables |
116,214,759,233 |
11,943,842,974 |
10,930,641,163 |
|
Advance
Receipts |
446,362,714 |
1,419,063,408 |
1,962,034,623 |
|
Withholdings |
1,310,981,636 |
1,612,915,431 |
826,209,193 |
|
Accrued
Expenses |
24,951,556,559 |
28,735,487,443 |
20,883,880,170 |
|
Accrued
Income Tax |
45,104,155,333 |
37,816,381,245 |
- |
|
Derivatives |
5,477,255,014 |
709,571,986 |
- |
|
Deferred
Income Tax |
201,502,350 |
- |
|
|
Fixed
Liabilities |
24,476,234,403 |
10,662,937,001 |
22,747,375,049 |
|
Long-Term
Borrowings |
15,986,870,000 |
- |
|
|
Provision for Recovery |
- |
500,200,001 |
5,890,796,998 |
|
Other
Provisions |
5,807,530,000 |
8,582,595,000 |
6,591,705,000 |
|
Provision
for Severance & Retirement |
23,631,657,139 |
23,016,040,809 |
41,171,212,480 |
|
Leasehold Deposit Received |
130,000,000 |
130,000,000 |
130,000,000 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Sales |
1,981,901,124,110 |
2,905,643,816,960 |
2,182,467,001,023 |
|
Cost of Sold Goods |
1,706,808,999,316 |
2,392,539,656,229 |
1,709,131,631,096 |
|
Gross Profit |
275,092,124,794 |
513,104,160,731 |
473,335,369,927 |
|
Selling & Admin. Expenses |
172,039,598,822 |
213,830,746,347 |
186,109,268,509 |
|
Operating Income |
103,052,525,972 |
299,273,414,384 |
287,226,101,418 |
|
Non-Operating Income |
252,726,394,423 |
117,270,505,685 |
119,076,603,225 |
|
Non-Operating Expenses |
60,518,204,766 |
112,202,545,620 |
126,172,897,579 |
|
Income Before Taxes |
295,260,715,629 |
304,341,374,449 |
280,129,807,064 |
|
Income Taxes Expenses |
66,340,586,661 |
26,639,028,138 |
27,479,185,649 |
|
Net Income |
228,920,128,968 |
277,702,346,311 |
252,650,621,415 |
Cash Flows
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Cash Flows from Operating |
188,317,496,165 |
313,389,137,392 |
316,759,041,999 |
|
-Net Income |
228,920,128,968 |
277,702,346,311 |
252,650,621,415 |
|
-Exp. without Cash Outflow |
60,162,295,649 |
80,764,828,324 |
67,059,921,859 |
|
-Revenue without Cash Inflows |
-177,893,546,952 |
-11,182,093,178 |
-23,913,912,030 |
|
-Changes in Asset/ & Liability |
77,128,618,500 |
-33,895,944,065 |
20,962,410,755 |
|
Cash Flows from Investing |
265,015,351,640 |
-40,775,653,144 |
-57,706,679,217 |
|
-Cash Inflow from Investing |
317,884,392,187 |
15,523,951,271 |
17,182,425,235 |
|
-Cash Outflows for Investing |
-52,869,040,547 |
-56,299,604,415 |
-74,889,104,452 |
|
Cash Flows from Financing |
-236,118,634,000 |
-230,665,256,928 |
-173,065,950,000 |
|
-Cash Inflows from Financing |
16,338,044,000 |
- |
60,000,000,000 |
|
-Cash Outflows from Financing |
-252,456,678,000 |
-230,665,256,928 |
-233,065,950,000 |
|
Increase/Decrease in Cash |
217,214,213,805 |
41,948,227,320 |
85,986,412,782 |
|
Cash at the Beginning of Year |
149,315,298,971 |
107,367,071,651 |
21,380,658,869 |
|
Cash at the End of Year |
366,529,512,776 |
149,315,298,971 |
107,367,071,651 |
|
Main Products & Services |
-Thermoplastics Business EPS, PS, ABS, SM, Engineering plastics
production and sales -Polyurethane Business MDI, TDI, Polyol production and sales -Chemicals & Performance Products
Business PolyTHK, BDO/THF, Fiber raw materials,
Petrochemicals, Intermediates, Textile Chemicals, Leather Chemicals, Pigment
& Dyestuff for industry, Specialty Chemicals, Acrylic Monomer &
Polymer, Paper Chemicals -Fine Chemicals Business Animal Nutrition, Lysine Byproducts,
Cosmetics, Pharmaceuticals, Food Ingredients, Aroma Chemicals for flavor and
fragrance, Agro chemical products |
|
Suppliers |
BASF AKTIENGESELLSCHAFT(CATALYST) HANWHA PETROCHEMICALS CO., LTD.(CHLORINE,
NITRIC ACID & CAUSTIC SODA) HUCHEMSFINECHEMICALCORPORATION(110111-2611906 : NITRIC ACID) AIR LIQUIDE KOREA CO., LTD.(110111-1232216 : CARBON MONOXIDE,
HYDROGEN) HEIN CORPORATION(180111-0049915 :
FORMALDEHYDE) SAMYANG CHEMICAL CO., LTD.(110111-0568878 :
FORMALDEHYDE) SKC(ETHYLENE) |
|
Customers |
BASF AKTIENGESELLSCHAFT BASF SOUTH EAST ASIA PTE. LTD. |
|
Competitors |
SAMSUNG TOTAL PETROCHEMICALS CO., LTD. 411-1, DOKGOT-RI, DAESAN-EUP, SEOSAN-SI, CHUNGCHEONGNAM-DO,
KOREA TEL:+82-41-660-6114 FAX:+82-41-681-4812 HONAM PETROCHEMICAL CORPORATION 11TH FL., LOTTE GWANAK TOWER, 395-67,
SINDAEBANG 2-DONG, DONGJAK-GU, SEOUL, KOREA 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, SEOUL, KOREA TEL:+82-2-740-7450~1 FAX:+82-2-745-4225 |
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
BASF SE BASF SOUTH EAST ASIA PTE. LTD. |
|
Subsidiary |
CIBA SPECIALTY CHEMICALS KOREA LTD.(110111-0714406) (100.0% held by the subject company) DAIHAN SWISS CHEMICAL CORP.(110111-0307325) (100.0% held by the subject company) COGNIS KOEA LTD.(110111-2865090) (100.0% held by the subject company) |
|
Corporate Ownership |
BASF SE BETEILIGUNGSGESELLSCHAFT GMBH |
|
Major Shareholders |
BASF BETEILIGUNGSGESELLSCHAFT GMBH CARL-BOSCH STRAßE 38, 67056 LUDWIGSHAFEN,
GERMANY TEL: 49-621-60-0 FAX: 49-621-60-42525 |
|
Cooperative Enterprise |
-Technical Support & Engineering
Support MITSUBISHI CHEMICAL CORPORATION BASF SE |
(Activity & Markets)
The Subject deals with the companies in Germany.
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.34 |
|
UK Pound |
1 |
Rs.87.91 |
|
Euro |
1 |
Rs.70.57 |
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.