|
Report Date : |
08.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
CASAMIA CO., LTD. |
|
|
|
|
Registered Office : |
5FL. 271-1, Seohyeon-dong, Bundang-gu, Seongnam-si,
Gyeonggi-do, Korea 463-824 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
29.06.1992 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Wholesale of Household Furniture |
|
|
|
|
No. of Employees : |
232 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
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
|
Company Name |
CASAMIA CO.,
LTD. (Korean Company
Name : “(주)까사미아”) |
|
Registered Address |
271-1, Seohyeon-dong, Bundang-gu,
Seongnam-si, Gyeonggi-do, Korea |
|
Building |
5FL. |
|
Zip Code |
463-824 |
|
Tel |
+82-31-780-7100 |
|
Fax |
+82-31-702-3864 |
|
E-mail |
webmanager@casamia.co.kr |
|
Website |
www.casamia.co.kr |
|
Trading Address |
5FL., 271-1, Seohyeon-dong, Bundang-gu,
Seongnam-si, Gyeonggi-do, Korea (New Address System : 358, Hwangsaeul-ro,
Bundang-gu, Seongnam-si, Gyeonggi-do, Korea) |
|
Tel |
+82-31-780-7100 |
|
Fax |
+82-31-702-3864 |
|
Other Address-Distribution Center |
615-5, Moonhyung-ri, Oppo-myun,
Guangju-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-766-0282 |
|
Other Address-Busan Branch |
627-1, U 1-dong, Haeundae-gu, Busan, Korea |
|
Tel |
+82-51-740-6655 |
|
Other Address-Shinsa Branch |
527-4, Sinsa-dong, Gangnam-gu, Seoul, Korea |
|
Tel |
+82-2-514-1709 |
|
Type |
Export/Import |
|
Industry |
Wholesale of Household Furniture |
|
Main Business |
Bedclothes |
|
Established (mm/dd/yyyy) |
06/29/1992 |
The Subject owns
the premises of Shinsa Branch.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Beds(56101515) |
|
Sell |
Mantel or table clocks(54111602) |
|
Sell |
Wall racks(56101518) |
|
Sell |
Bedclothes(52121500) |
|
Sell |
Wall clocks(54111601) |
|
Name |
Lee Hyun-Koo |
|
Address |
B-3504, 467, Dogok-dong, Gangnam-gu, Seoul, Korea |
|
Date of Birth |
01/02/1949 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
4,685,763,000 |
|||||||||||||||||||||||||||
|
Employees |
232 |
|||||||||||||||||||||||||||
|
Formation |
Co., Ltd by shares |
|||||||||||||||||||||||||||
|
Bank Details |
Woori Bank-Bundang Central Branch Industrial Bank of Korea Hana Bank Shinhan Bank |
|||||||||||||||||||||||||||
|
Corporate Registered No. |
110111-0873102 |
|||||||||||||||||||||||||||
|
Business Registered No. |
120-81-11794 |
|||||||||||||||||||||||||||
|
Permit & Licenses |
10/2004 GD Mark Int’l Trade No.: 11013736 |
|||||||||||||||||||||||||||
|
Shareholder Position |
(*) The above list is based as of
12/31/2011. |
|||||||||||||||||||||||||||
|
Company History |
06/29/1992 Incorporated as the present name 06/30/200 Acquired C & C CORPORATION 07/01/2007 Moved to 240-6,
Seohyeon-dong, Bundang-gu, Seongnam-si, Gyeonggi-do, Korea from 912-13, Daechi-dong,
Gangnam-gu, Seoul, Korea 06/21/2008 Moved to 3rd FI., 262-1, Seohyeon-dong, Bundang-gu,
Seongnam-si, Gyeonggi-do, Korea from 240-6, Seohyeon-dong, Bundang-gu, Seongnam-si,
Gyeonggi-do, Korea 01/10/2011 Moved to the present HQ address from 3rd FI., 262-1,
Seohyeon-dong, Bundang-gu, Seongnam-si, Gyeonggi-do, Korea 09/11/2012 Decreased capital to 4,685,763,000 KRW from 6,250,000,000 KRW |
|||||||||||||||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lee Hyun-Koo |
Male |
Korean |
06/29/2000 |
|
Director |
M/S. |
Choi Soon-Hee |
Female |
Korean |
06/29/1992 |
|
Director |
Mr. |
Min Eung-Ki |
Male |
Korean |
03/28/2003 |
|
Director |
M/S. |
Choi Yoon-Kyung |
Female |
Korean |
05/21/2012 |
|
Auditor |
Mr. |
Kim Dong-In |
Male |
Korean |
03/31/2009 |
|
Supervisor |
Mr. |
Park Se-Jong |
Male |
Korean |
01/20/1974 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
105,649,194,908 |
117,340,009,497 |
9,943,569,936 |
|
|
2010 |
86,426,350,819 |
107,415,582,479 |
8,871,326,612 |
|
2009 |
67,703,855,119 |
99,922,961,643 |
6,062,587,765 |
|
2008 |
58,122,857,717 |
96,745,814,977 |
4,519,449,465 |
|
2007 |
58,449,743,862 |
75,716,135,281 |
4,353,181,345 |
|
2006 |
60,379,834,919 |
72,393,100,161 |
4,380,082,519 |
|
2005 |
56,266,835,700 |
51,475,519,771 |
4,841,842,030 |
|
2004 |
55,475,738,181 |
45,515,611,230 |
4,330,437,517 |
|
2003 |
55,042,049,818 |
41,356,747,162 |
5,382,147,738 |
|
Authorized Capital(KRW) |
26,000,000,000 |
|
Paid-Up Capital(KRW) |
4,685,763,000 |
|
Total Issues Shares |
7,521,526(Common:7,344,965 / Preferable:176,561) |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Total Assets |
117,340,009,497 |
107,415,582,479 |
99,922,961,643 |
|
Current Assets |
29,133,680,169 |
21,406,331,591 |
19,531,475,372 |
|
-Quick Assets |
18,439,987,983 |
11,494,650,667 |
11,525,304,223 |
|
-Inventories |
10,693,692,186 |
9,911,680,924 |
8,006,171,149 |
|
Fixed Assets |
88,206,329,328 |
86,009,250,888 |
80,391,486,271 |
|
-Investment |
1,585,562,250 |
1,556,276,250 |
1,165,017,250 |
|
-Tangibles |
74,692,845,331 |
72,667,990,025 |
68,054,247,371 |
|
-Intangibles |
712,245,872 |
607,930,505 |
425,889,450 |
|
-Others |
11,215,675,875 |
11,177,054,108 |
10,746,332,200 |
|
Total Liabilities |
31,595,625,840 |
30,791,058,710 |
30,222,072,223 |
|
Current Liabilities |
20,934,590,210 |
22,296,587,110 |
23,766,100,047 |
|
Fixed Liabilities |
10,661,035,630 |
8,494,471,600 |
6,455,972,176 |
|
Capital Stock |
6,250,000,000 |
6,250,000,000 |
6,250,000,000 |
|
Capital Surplus |
10,873,178,637 |
10,845,528,637 |
10,813,503,637 |
|
Profit Surplus |
53,698,893,848 |
44,583,083,912 |
37,567,378,477 |
|
Capital Adjustment |
14,922,311,172 |
14,945,911,220 |
15,070,007,306 |
|
Total Equity |
85,744,383,657 |
76,624,523,769 |
69,700,889,420 |
|
Liab. & Shareholder’s Equity |
117,340,009,497 |
107,415,582,479 |
99,922,961,643 |
|
Current
Liabilities |
20,934,590,210 |
22,296,587,110 |
23,766,100,047 |
|
Trade Payables |
5,049,618,571 |
4,100,521,771 |
3,247,065,408 |
|
Short-Term Borrowings |
9,125,335,041 |
11,000,552,926 |
14,674,267,734 |
|
Account Payables |
2,734,280,709 |
3,299,116,277 |
3,501,876,347 |
|
Accrued Expenses |
34,326,549 |
36,524,613 |
24,288,339 |
|
Advance Receipts |
1,615,891,139 |
1,812,581,669 |
1,357,895,431 |
|
Unearned
Income |
- |
8,642,603 |
- |
|
Withholdings |
72,118,670 |
230,737,640 |
97,825,630 |
|
Accrued Income Tax |
1,703,019,531 |
1,507,909,611 |
862,881,158 |
|
Current Portion of Long-Term Debts |
600,000,000 |
300,000,000 |
- |
|
Fixed
Liabilities |
10,661,035,630 |
8,494,471,600 |
6,455,972,176 |
|
Long-Term Borrowings |
7,358,000,000 |
5,458,000,000 |
3,000,000,000 |
|
Guarantee Deposit Received |
1,134,495,090 |
1,375,779,940 |
1,402,495,090 |
|
Provision for Severance & Retirement |
3,750,965,533 |
3,080,566,258 |
2,428,470,398 |
|
Leasehold Deposit Received |
1,567,975,000 |
1,337,975,000 |
1,679,675,000 |
|
Provision for Mileage |
319,963,631 |
- |
- |
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Sales |
105,649,194,908 |
86,426,350,819 |
67,703,855,119 |
|
Cost of Sold Goods |
58,010,406,998 |
45,858,875,870 |
35,817,256,971 |
|
Gross Profit |
47,638,787,910 |
40,567,474,949 |
31,886,598,148 |
|
Selling & Admin. Expenses |
35,435,206,108 |
29,235,630,126 |
24,464,700,961 |
|
Operating Income |
12,203,581,802 |
11,331,844,823 |
7,421,897,187 |
|
Non-Operating Income |
1,472,675,199 |
897,460,484 |
623,134,144 |
|
Non-Operating Expenses |
1,100,936,359 |
1,302,878,774 |
720,453,908 |
|
Income Before Taxes |
12,575,320,642 |
10,926,426,533 |
7,324,577,423 |
|
Income Taxes Expenses |
2,631,750,706 |
2,055,099,921 |
1,261,989,658 |
|
Net Income |
9,943,569,936 |
8,871,326,612 |
6,062,587,765 |
Cash
Flows
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Cash Flows from Operating |
13,723,565,941 |
11,169,134,970 |
12,091,874,177 |
|
-Net Income |
9,943,569,936 |
8,871,326,612 |
6,062,587,765 |
|
-Exp. without Cash Outflow |
6,343,952,145 |
4,353,479,283 |
3,212,642,284 |
|
-Revenue without Cash Inflows |
-149,394,687 |
-431,929,934 |
-17,121,879 |
|
-Changes in Asset/ & Liability |
-2,414,561,453 |
-1,623,740,991 |
2,833,766,007 |
|
Cash Flows from Investing |
-7,386,250,401 |
-8,350,958,114 |
-4,040,724,088 |
|
-Cash Inflow from Investing |
15,873,141,475 |
8,656,141,302 |
5,458,534,063 |
|
-Cash Outflows for Investing |
-23,259,391,876 |
-17,007,099,416 |
-9,499,258,151 |
|
Cash Flows from Financing |
-279,819,962 |
-3,513,604,494 |
-7,697,643,296 |
|
-Cash Inflows from Financing |
23,782,527,725 |
29,450,542,877 |
26,750,207,224 |
|
-Cash Outflows from Financing |
-24,062,347,687 |
-32,964,147,371 |
-34,447,850,520 |
|
Increase/Decrease in Cash |
6,057,495,578 |
-695,427,638 |
353,506,793 |
|
Cash at the Beginning of Year |
1,425,797,528 |
2,121,225,166 |
1,767,718,373 |
|
Cash at the End of Year |
7,483,293,106 |
1,425,797,528 |
2,121,225,166 |
|
Main Products & Services |
Furniture Sofa, Tea Table, Chair, Desk, Fabric
Products, Other Decoration Goods Brand Name : Casamia, Salim, Uffia, Sia,
Eco Story |
|
Suppliers |
BMW FINANCIAL SERVICES KOREA CO., LTD.(110111-2278756) provides the
vehicle services to the subject company. |
|
Customers |
The Subject sells through its direct shops
and major department stores. |
|
Competitors |
BIF APT FURNITURE CO., LTD. 3RD FL., YONGHO BLDG., 259-1, BOGWANG-DONG,
YONGSAN-GU, SEOUL, KOREA TEL:+82-2-522-3500 FAX:+82-2-792-8828 SEDEC CO., LTD. 9TH FL., SEDEC BLDG., 588-18, SINSA-DONG,
GANGNAM-GU, SEOUL, KOREA TEL:+82-2-549-6701 FAX:+82-2-549-9545 HANSSEM CO., LTD. 665, SEONGGOK-DONG, DANWON-GU, ANSAN-SI,
GYEONGGI-DO, KOREA TEL:+82-31-496-1101 FAX:+82-31-498-8078 |
(Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
CASAMIA UPIA CO., LTD.(110111-0951635) (19.80% held by the subject company) CASAMIA(SHANGHAI) FURNITURE CO., LTD-CHINA (88.27% held by the subject company) CASAMIA INTERNATIONAL CO., LTD.(131111-0261500) (100.00% held by the subject company) |
|
Subsidiary |
CASAMIA(SHANGHAI) FURNITURE CO., LTD-CHINA (88.27% held by the subject company) |
|
Cooperative Enterprise |
-Insured Company HEUNGKUK FIRE & MARINE INSURANCE CO., LTD.(110111-0016728) DONGBU INSURANCE CO., LTD.(110111-0095285) |
(Activity &
Markets)
Not Available.
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.88 |
|
|
1 |
Rs.83.54 |
|
Euro |
1 |
Rs.70.90 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.