|
Report Date : |
16.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAM-A ALUMINIUM CO., LTD. |
|
|
|
|
Registered Office : |
111-2, Bakdal 2-dong, Manan-gu, Anyang-si, Gyeonggi-do, Korea 430-802\ |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
25.06.1969 |
|
|
|
|
Com. Reg. No.: |
123-81-01882 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Rolled, Drawn and Folded Products of
Aluminum |
|
|
|
|
No. of Employees : |
270 |
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 |
SAM-A ALUMINIUM CO.,
LTD. (Korean Company
Name : “삼아알미늄(주)”) |
|
Registered Address |
111-2, Bakdal 2-dong, Manan-gu, Anyang-si,
Gyeonggi-do, Korea |
|
Zip Code |
430-802 |
|
Tel |
+82-31-467-6800 |
|
Fax |
+82-31-446-2121 |
|
E-mail |
webmaster@sama-al.com |
|
Website |
www.sama-al.com |
|
Trading Address |
7~8FL., Wonkyung Bldg., 788-16,
Yeoksam-dong, Gangnam-gu, Seoul, Korea |
|
Tel |
+82-2-3458-0600 |
|
Fax |
+82-2-563-8188 |
|
Other Address-Poseung Factory |
592, Manho-ri, Poseung-eup, Pyeongtaek-si,
Gyeonggi-do, Korea |
|
Tel |
+82-31-680-9500 |
|
Fax |
+82-31-683-7011 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Rolled, Drawn and Folded Products of Aluminum |
|
Main Business |
Aluminum Foil, Adhesion Foil, Refill Pouch, Yogurt Cap |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
06/25/1969 |
The Subject owns
the premises of Poseung Factory(100,000㎡).
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Lining papers(14111616) |
|
Sell |
Domestic disposable dishes(52151502) |
|
Sell |
Domestic disposable food
containers(52151506) |
|
Sell |
Packaging materials(24120000) |
|
Sell |
Aluminum foil(30102006) |
|
Sell |
Resins(13111000) |
|
Sell |
Foil tape(31201521) |
|
Sell |
Caps or tops(24122004) |
|
Sell |
Packaging pouches or bags(24121502) |
|
Sell |
Electrical insulating tape(31201502) |
|
Sell |
Aluminum strip(30102606) |
|
Sell |
Films(13111200) |
|
Sell |
Heat exchangers(40101802) |
|
Sell |
Powder coat(31211708) |
|
Sell |
Domestic ranges(52141504) |
|
Name |
Hahn Nam-Hee |
|
Address |
|
|
Date of Birth |
12/17/1956 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
5,500,000,000 |
|||||||||||||||||||||
|
Employees |
270 |
|||||||||||||||||||||
|
Formation |
Listed Company (Korea Stock Exchange : 006110) as of 12/05/1980 Foreign Direct Investment Corporation |
|||||||||||||||||||||
|
Bank Details |
Korea Exchange Bank-Sales Dept. Shinhan Bank Hana Bank |
|||||||||||||||||||||
|
Corporate Registered No. |
134111-0002365 |
|||||||||||||||||||||
|
Business Registered No. |
123-81-01882 |
|||||||||||||||||||||
|
Permit & Licenses |
03/15/1993 KS Mark 10/20/1995 ISO 9002 10/28/2003 ISO 9001 04/2005 ISO 14001 Int’l Trade No.: 727039 |
|||||||||||||||||||||
|
Shareholder Position |
|
|||||||||||||||||||||
|
Company History |
02/01/2011 Decide to spin off the par value
to 500 KRW from 5,000 KRW as of 04/2011 04/2005 Certified KSA 14001:2004 ISO 14001:2004 06/2004 Finished construction of Poseung
factory 12/2003 Installed the 5th ultra-high speed
& widest width milling machine 10/2003 Certified KSA 9001 : 2001 & ISO
9001 : 2001 10/2001 Started construction of Poseung
factory 01/2000 Opened ERP System 10/1995 Certified KSA 9002 & ISO 9002 06/1994 Installed the 4th ultra-high speed
& wide width milling machine 11/1986 Installed the 3rd ultra-high speed
& wide width milling machine 04/1982 Moved into the first section from
the second section at the Korea Stock Exchange 12/1980 Enlisted in the second section at
the Korea Stock Exchange 03/1976 Installed the 2nd high speed &
wide width milling machine 10/1975 Finished construction of the
Shi-Heung converting factory and moved the converting machine 12/1974 Installed production facilities for
aluminium -paste & started production 06/1970 Installed the 1st high speed &
wide width milling machine 01/1970 Incorporated as a Joint Venture
with Toyo Aluminium K.K., Japan 11/1969 Installed wet-lamination machine
& started production of paper backed foil 06/1969 Established Sam-A Aluminium Company
Limited |
|||||||||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
President & CEO |
Dr. |
Hahn Nam-Hee |
Korean |
1956.12.17 |
U.C. Davis University, USA |
|
Director |
Mr. |
Lee Jae-Kwan |
Korean |
1952.03.12 |
Yonsei University, Korea |
|
Director |
Mr. |
Kim Sang-Yoon |
Korean |
1952.11.13 |
Inha University, Korea |
|
Director |
Mr. |
Ha Sang-Yong |
Korean |
1952.03.04 |
Inha University, Korea |
|
Director |
Mr. |
Imasu Masao(今須聖雄) |
Japanese |
1942.11.03 |
Kansai University, Japan |
|
Director |
Mr. |
Yamamoto Hiroshi (山本 博) |
Japanese |
1950.05.16 |
Osaka University, Japan |
|
Outside Director |
Mr. |
Kwon Oh-Bin |
Korean |
1926.11.13 |
- |
|
Outside Director |
Mr. |
Sohn Kye-Dong |
Korean |
1936.05.28 |
Yonsei University, Korea |
|
Outside Director |
Mr. |
淺田 淑 |
Japanese |
1941.04.21 |
Osaka University, Japan |
|
Auditor |
Mr. |
Jung Kyu-Tae |
Korean |
1948.08.19 |
Korea University |
|
Auditor |
Mr. |
Ueda Masamichi (上田雅通) |
Japanese |
1950.04.12 |
Waseda University, Japan |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
150,091,124,132 |
173,452,507,000 |
2,762,671,278 |
|
|
(*)2011 |
158,084,044,891 |
185,399,645,483 |
2,602,476,886 |
|
(*)2010 |
153,989,824,963 |
178,056,310,542 |
5,938,585,117 |
|
2009 |
136,465,422,081 |
130,169,837,147 |
5,408,056,088 |
|
2008 |
144,555,391,298 |
130,928,079,607 |
15,664,485,144 |
|
2007 |
134,247,318,420 |
129,390,551,985 |
(-)5,793,309,057 |
|
2006 |
136,120,441,772 |
137,812,236,549 |
(-)7,950,672,618 |
|
2005 |
134,921,005,168 |
145,112,817,305 |
(-)9,976,772,925 |
|
2004 |
138,902,102,684 |
153,078,742,522 |
5,355,108 |
(*)Figures are based
on the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
15,000,000,000 |
|
Paid-Up Capital(KRW) |
5,500,000,000 |
|
Total Issues Shares |
1,100,000 |
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Total Assets |
173,452,507,000 |
185,399,645,483 |
178,056,310,542 |
|
Current
Assets |
71,990,490,120 |
85,006,714,810 |
74,092,199,063 |
|
Cash & Cash Equivalents |
5,824,101,660 |
6,400,012,307 |
4,746,704,686 |
|
Finance Assets from this year's
Income |
302,760,020 |
3,388,413 |
247,082,819 |
|
Trade Receivables |
29,828,073,712 |
33,073,258,666 |
29,646,822,973 |
|
Marketable Financial Instruments |
0 |
390,000 |
390,000 |
|
Inventories |
35,533,311,633 |
45,071,643,547 |
36,109,263,030 |
|
Other Financial Assets |
106,184,334 |
109,464,275 |
117,722,927 |
|
Other Current Assets |
396,058,761 |
348,557,602 |
3,224,212,628 |
|
Non-Current
Assets |
101,462,016,880 |
100,392,930,673 |
103,964,111,479 |
|
Marketable Financial Instruments |
500,390,000 |
500,390,000 |
780,000 |
|
Tangibles |
82,307,709,306 |
83,319,055,330 |
87,356,298,150 |
|
Intangibles |
89,000,000 |
89,000,000 |
89,000,000 |
|
Other Financial Assets |
17,124,044,051 |
15,597,528,408 |
15,185,154,519 |
|
Other Non-Current Assets |
1,440,873,523 |
886,956,935 |
1,332,878,810 |
|
Total
Liabilities |
63,967,700,901 |
76,941,372,295 |
70,783,340,909 |
|
Current
Liabilities |
51,225,175,615 |
63,067,985,399 |
56,097,719,714 |
|
Finance Laibailties from this
year's Income |
0 |
654,844,313 |
0 |
|
Trade Payables |
11,067,682,323 |
11,914,147,771 |
13,954,722,181 |
|
Short-Term Borrowings |
36,172,398,399 |
46,867,499,739 |
37,365,832,857 |
|
Accrued Income Tax |
358,589,173 |
450,618,315 |
1,634,338,326 |
|
Other Current Financial Debts |
2,821,298,380 |
2,785,957,430 |
2,544,541,616 |
|
Other Current Liabilities |
805,207,340 |
394,917,831 |
598,284,734 |
|
Non-Current
Liabilities |
12,742,525,286 |
13,873,386,896 |
14,685,621,195 |
|
Long-Term Borrowings |
77,096,000 |
79,483,100 |
89,761,600 |
|
Provision for Severance &
Retirement |
4,623,188,079 |
5,680,144,145 |
6,077,299,541 |
|
Deferred Income Tax Credit |
7,685,355,675 |
7,672,349,867 |
8,113,227,379 |
|
Other Non-Current Liabilities |
356,885,532 |
441,409,784 |
405,332,675 |
|
Capital
Stock |
5,500,000,000 |
5,500,000,000 |
5,500,000,000 |
|
Capital Surplus |
4,750,459,800 |
4,750,459,800 |
4,750,459,800 |
|
Profit Surplus |
99,234,346,299 |
98,207,813,388 |
97,022,509,833 |
|
Total Equity |
109,484,806,099 |
108,458,273,188 |
107,272,969,633 |
|
Liab. & Shareholder’s Equity |
173,452,507,000 |
185,399,645,483 |
178,056,310,542 |
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Sales |
150,091,124,132 |
158,084,044,891 |
153,989,824,963 |
|
Cost of Sold Goods |
137,271,380,963 |
144,634,639,560 |
138,084,859,507 |
|
Gross Profit |
12,819,743,169 |
13,449,405,331 |
15,904,965,456 |
|
Selling & Admin. Expenses |
7,787,173,800 |
7,225,935,756 |
7,063,966,854 |
|
Operating Income |
5,032,569,369 |
6,223,469,575 |
8,840,998,602 |
|
Other Operating Income |
1,379,605,374 |
2,180,979,926 |
2,175,650,510 |
|
Other Operating Expenses |
1,987,699,846 |
2,335,128,883 |
2,372,988,079 |
|
Finance Income |
1,527,791,431 |
691,582,313 |
1,119,416,158 |
|
Finance Expenses |
2,205,186,902 |
3,274,153,344 |
2,058,291,586 |
|
Income Before Taxes |
3,747,079,426 |
3,486,749,587 |
7,704,785,605 |
|
Income Taxes Expenses |
984,408,148 |
884,272,701 |
1,766,200,488 |
|
Net Income |
2,762,671,278 |
2,602,476,886 |
5,938,585,117 |
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Operating
Activities Cash Flows |
17,872,375,478 |
-4,780,460,847 |
2,630,783,341 |
|
Net Income |
2,762,671,278 |
2,602,476,886 |
5,938,585,117 |
|
-Exp. without Cash Outflow |
10,399,580,355 |
11,176,637,539 |
10,981,033,059 |
|
-Revenue without Cash Inflows |
-1,237,838,860 |
-760,228,344 |
-1,299,945,526 |
|
-Changes in Asset/ &
Liability |
9,068,116,623 |
-12,943,372,972 |
-11,063,294,843 |
|
Interests Received |
7,648,010 |
7,352,830 |
426,110,823 |
|
Interests Paid |
-2,243,794,088 |
-2,379,813,142 |
-2,002,324,645 |
|
Income Taxes |
-884,007,840 |
-2,433,513,644 |
-299,380,644 |
|
Others |
0 |
-50,000,000 |
-50,000,000 |
|
Cash Flows
from Investing |
-6,644,115,168 |
-1,948,493,013 |
-2,380,578,802 |
|
Cash Inflow from Investing |
11,372,809 |
15,830,441 |
-777,468,864 |
|
Cash Outflows for Investing |
-6,655,487,977 |
-1,964,323,454 |
-1,603,109,938 |
|
Cash
Flows from Financing |
-11,797,488,440 |
8,391,388,382 |
-1,583,926,368 |
|
Cash Inflows from Financing |
42,170,011,299 |
56,857,221,239 |
39,156,459,357 |
|
Cash Outflows from Financing |
-53,967,499,739 |
-48,465,832,857 |
-40,740,385,725 |
|
Increase/Decrease
in Cash |
-569,228,130 |
1,662,434,522 |
-1,333,721,829 |
|
Cash at
the Beginning of Year |
6,400,012,307 |
4,746,704,686 |
6,114,976,865 |
|
Cash at
the End of Year |
5,824,101,660 |
6,400,012,307 |
4,746,704,686 |
|
Main Products & Services |
Aluminum Foil, Adhesion Foil, Refill Pouch, Yogurt Cap |
|
Suppliers |
NOVELIS KOREA LIMITED(175611-0003950) CHOIL ALUMINUM CO., LTD(170111-0021543) KUK-IL PAPER MFG CO., LTD(134511-0001377) SEONGLIM PAPER CO., LTD.(134511-0000428) SKC LTD(130111-0001585) HYOSUNG CORPORATION(110111-0030497) KOLON INDUSTRIES INC.(110111-0030528) |
|
Customers |
DONGSUH CO., LTD.(110111-0180888) OTTOGI CORPORATION(134111-0002258) SAMSUNG SDI CO., LTD.(110111-0394174) HALLA CLIMATE CONTROL CORP.(134711-0002206) DOOWON CLIMATE CONTROL CO.,
LTD.(134811-0012386) FLAIR FLEXIBLE PACKAGING HUHTAMAKI(THAILAND) LIMITED M/S BILCARE LTD GUDANG GARAM TBK ASIA PACKAGING CENTER CO., LTD.(APC) SOCIAL MARKETING COMPANY |
|
Competitors |
LOTTE ALUMINUM CO., LTD. 1005, DOKSAN 1-DONG, GEUMCHEON-GU, SEOUL,
KOREA TEL:+82-2-801-8000 FAX:+82-2-801-8109 DONGIL ALUMINUM CO., LTD. 378-1, CHEONHEUNG-RI, SEONGGEO-EUP, SEOBUK-GU,
CHEONAN-SI, CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-559-2222 FAX:+82-41-555-9600 DAE HAN EUNPAKGY CO., LTD. 308, UNYONG-RI, DUNPO-MYEON, ASAN-SI,
CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-532-0108 FAX:+82-41-532-0109 |
(Subsidiaries,
Joint-Venture & Affiliates)
|
Major Shareholders |
TOYO ALUMINIUM K.K. CO., LTD.(JAPAN) OSAKA CITY CHUO-KU KYUTARO-MACHI 3-CHOME
6-8 |
|
Cooperative Enterprise |
-Insured Company LIG INSURANCE CO., LTD.(110111-0017859) DONGBU INSURANCE CO., LTD.(110111-0095285) SAMSUNG FIRE & MARINE INSURANCE CO., LTD.(110111-0005078) GREEN NON-LIFE INSURANCE CO., LTD.(110111-0007082) |
(Activity &
Markets)
|
Sales/ Unit :Mil KRW |
2012 |
2011 |
2010 |
|
Export |
68,351 |
70,126 |
74,537 |
|
Domestic |
81,740 |
87,958 |
79,453 |
|
Total |
150,091 |
158,084 |
153,990 |
The Subject deals
with the companies in Japan.
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.62 |
|
|
1 |
Rs.83.69 |
|
Euro |
1 |
Rs.71.41 |
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.