|
Report Date : |
22.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
KPX GREEN CHEMICAL CO., LTD. |
|
|
|
|
Formerly Known As : |
GREEN SOFT CHEM CO., LTD |
|
|
|
|
Registered Office : |
411-13, Dokgot-ri, Daesan-eup, Seosan-si, Chungcheongnam-do, Korea, Zip Code 356-874 |
|
|
|
|
Country : |
South korea |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
01.01.2003 |
|
|
|
|
Com. Reg. No.: |
316-81-03672 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacturer of Surface-Active Agents |
|
|
|
|
No. of Employees : |
78 |
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 (31.03.2012) |
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 is currently the world's 12th largest economy. 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. Korea's export focused economy was hit hard by the 2008 global economic downturn, but quickly rebounded in subsequent years, reaching 6.3% growth in 2010. The US-South Korea Free Trade Agreement was ratified by both governments in 2011 and went into effect in March 2012. Throughout 2012 the economy experienced sluggish growth because of market slowdowns in the United States, China, and the Eurozone. The incoming administration in 2013, following the December 2012 presidential election, is likely to face the challenges of balancing heavy reliance on exports with developing domestic-oriented sectors, such as services. 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 |
KPX GREEN
CHEMICAL CO., LTD. (Korean Company
Name : “KPX그린케미칼(주)”) |
|
Registered Address |
411-13, Dokgot-ri, Daesan-eup, Seosan-si,
Chungcheongnam-do, Korea |
|
Zip Code |
356-874 |
|
Tel |
+82-41-661-5000 |
|
Fax |
+82-41-661-5019 |
|
E-mail |
|
|
Website |
|
|
Trading Address |
18FL., KPX Bldg., 473, Gongdeok-dong,
Mapo-gu, Seoul, Korea |
|
Tel |
+82-2-2014-4200 |
|
Fax |
+82-2-392-3113 |
|
Type |
Export |
|
Industry |
Manufacture of Surface-Active Agents |
|
Main
Business |
Ethanolamines, Ethoxylates |
|
Established (mm/dd/yyyy) |
01/01/2003 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Surfactants(12161900) |
|
Sell |
Amines or imines or its
substitutes(12352116) |
|
Buy |
Ammonia(12142103) |
|
Buy |
Phenols or its substitutes or
derivatives(12191503) |
|
Buy |
Inorganic acids(12352301) |
|
Buy |
Polyethylene(13111016) |
|
Buy |
Phenols or its substitutes or
derivatives(12191503) |
|
Buy |
Alcohols or its substitutes(12352104) |
|
Name |
Yang Jun-Hwa |
|
Address |
|
|
Date of Birth |
04/1971 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
10,000,000,000 |
|||||||||||||||||||||
|
Employees |
78 |
|||||||||||||||||||||
|
Formation |
Listed Company (Korea Stock Exchange : 083420) as of 10/20/2005 A Company of KPC Holdings |
|||||||||||||||||||||
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Bank Details |
SC First Bank of Korea-Chungjung Ro Branch |
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|
Corporate Registered No. |
161411-0012349 |
|||||||||||||||||||||
|
Business Registered No. |
316-81-03672 |
|||||||||||||||||||||
|
Permit & Licenses |
09/02/2003 ISO 9001 09/23/2005 ISO 14001 Int’l Trade No.: 45070925 |
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|
Shareholder Position |
|
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|
Company History |
01/01/2003 Incorporated as GREEN SOFT CHEM
CO., LTD. 09/01/2008 Changed company name to the
present name |
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|
|
|
|
Job Description |
Title |
Name |
Date of Birth |
Nationality |
Education |
|
President & CEO |
Mr. |
Yang Jun-Hwa |
1971.04 |
Korean |
Keio University, Japan |
|
Sr. Executive Director |
Mr. |
Kim Dae-Young |
1963.1 |
Korean |
Yonsei University, Korea |
|
Executive Director |
Mr. |
Cho Myung-Hyun |
1956.02 |
Korean |
Youngnam University, Korea |
|
Outside Director |
Mr. |
Park Min-Soo |
1960.06 |
Korean |
Kyunghee University, Korea |
|
Auditor |
Mr. |
Park Kwang-Duck |
1961.1 |
Korean |
Chungang University, Korea |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
217,154,053,078 |
158,667,056,914 |
11,700,486,679 |
|
|
2011 |
177,400,003,037 |
129,851,419,694 |
10,943,453,832 |
|
2010 |
169,133,467,787 |
109,288,364,575 |
12,966,678,149 |
|
Authorized Capital(KRW) |
20,000,000,000 |
|
Paid-Up Capital(KRW) |
10,000,000,000 |
|
Total Issued Shares |
20,000,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Total Assets |
158,667,056,914 |
129,851,419,694 |
109,288,364,575 |
|
Current
Assets |
69,342,061,213 |
58,068,126,658 |
58,899,151,842 |
|
Cash & Cash Equivalents |
5,779,280,527 |
2,659,906,994 |
1,539,027,290 |
|
Current Financial Instruments |
8,810,704,183 |
10,133,693,037 |
18,403,459,816 |
|
Marketable Financial Instruments |
5,094,995,128 |
3,266,405,654 |
1,053,035,552 |
|
Trade Receivables |
33,117,838,346 |
31,192,300,202 |
25,919,978,507 |
|
Short-Term Receivables |
- |
507,431,031 |
- |
|
Account Receivables |
1,740,750 |
1,534,500 |
4,726,260 |
|
Uneraned Income |
97,605,479 |
164,321,881 |
320,384,060 |
|
Prepaid |
204,792 |
- |
461,320 |
|
Prepaid Expenses |
71,457,552 |
48,908,654 |
63,143,259 |
|
Prepaid VAT |
2,365,373,040 |
968,659,495 |
670,305,325 |
|
Loans |
1,600,000 |
2,600,000 |
1,600,000 |
|
Inventories |
14,001,261,416 |
9,122,365,210 |
10,923,030,453 |
|
Non-Current
Assets |
89,324,995,701 |
71,783,293,036 |
50,389,212,733 |
|
Non-Current Financial Instruments |
997,500,000 |
277,500,000 |
157,500,000 |
|
Marketable Financial Instruments |
4,283,001,720 |
- |
- |
|
Long-Term Loans |
2,200,000 |
3,800,000 |
1,000,000 |
|
Tangibles |
82,005,896,664 |
69,673,585,951 |
49,056,935,096 |
|
Intangibles |
1,445,562,217 |
1,413,648,485 |
1,101,972,237 |
|
Guarantee Deposit Withhold |
590,835,100 |
414,758,600 |
71,805,400 |
|
Total
Liabilities |
60,107,620,369 |
39,599,286,271 |
27,816,518,479 |
|
Current
Liabilities |
49,698,062,548 |
33,549,373,946 |
20,827,805,671 |
|
Trade Payables |
27,383,469,906 |
18,026,126,506 |
11,703,854,090 |
|
Short-Term Borrowings |
16,000,000,000 |
10,172,000,000 |
- |
|
Account Payables |
|
3,481,610,000 |
5,280,000 |
|
Withholdings |
383,680,474 |
377,059,249 |
453,685,613 |
|
Deferred Income Tax Credit |
2,042,751,661 |
1,026,955,857 |
2,919,393,703 |
|
Current Portion of Long-Term
Debts |
2,800,000,000 |
- |
4,999,980,000 |
|
Salaries |
35,403,390 |
30,457,192 |
- |
|
Unearned Income |
233,964,383 |
- |
40,602,740 |
|
Accrued Expenses |
818,792,734 |
435,165,142 |
705,009,525 |
|
Non-Current
Liabilities |
10,409,557,821 |
6,049,912,325 |
6,988,712,808 |
|
Long-Term Borrowings |
4,200,000,000 |
- |
- |
|
Confirmed Salaries |
367,611,476 |
149,561,170 |
175,679,155 |
|
Deferred Income Tax Credit |
5,795,814,283 |
5,861,280,985 |
6,743,506,291 |
|
Provision for Severance &
Retirement |
46,132,062 |
39,070,170 |
69,527,362 |
|
Capital
Stock |
10,000,000,000 |
10,000,000,000 |
10,000,000,000 |
|
Capital Surplus |
22,970,283,820 |
22,970,283,820 |
22,970,283,820 |
|
Profit Surplus |
65,720,515,317 |
57,072,987,570 |
48,461,361,328 |
|
Others |
-131,362,592 |
208,862,033 |
40,200,948 |
|
Total Equity |
98,559,436,545 |
90,252,133,423 |
81,471,846,096 |
|
Liab. & Shareholder’s Equity |
158,667,056,914 |
129,851,419,694 |
109,288,364,575 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Sales |
217,154,053,078 |
177,400,003,037 |
169,133,467,787 |
|
Cost of Sold Goods |
197,290,735,098 |
158,890,652,170 |
147,791,841,708 |
|
Gross Profit |
19,863,317,980 |
18,509,350,867 |
21,341,626,079 |
|
Selling & Admin. Expenses |
5,796,716,064 |
5,727,388,615 |
5,466,074,266 |
|
Operating Income |
14,066,601,916 |
12,781,962,252 |
15,875,551,813 |
|
Other Operating Income |
86,615,661 |
67,554,866 |
64,802,688 |
|
Other Operating Expenses |
4,526,153 |
221,937,371 |
20,301,013 |
|
Finance Income |
1,262,887,877 |
956,692,451 |
1,897,387,043 |
|
Finance Expenses |
966,882,568 |
500,228,289 |
977,957,591 |
|
Income Before Taxes |
14,444,696,733 |
|
16,839,482,940 |
|
Income Taxes Expenses |
2,744,210,054 |
2,140,590,077 |
3,872,804,791 |
|
Net Income |
11,700,486,679 |
10,943,453,832 |
12,966,678,149 |
Cash
Flows
|
|||
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Operating
Activities Cash Flows |
19,303,420,410 |
21,682,412,970 |
15,872,101,178 |
|
Net Income |
11,700,486,679 |
10,943,453,832 |
12,966,678,149 |
|
Adjustment |
11,451,053,585 |
9,467,695,473 |
10,359,187,892 |
|
Changes in Asset/ & Liability |
-2,394,834,501 |
5,153,400,098 |
-6,523,100,615 |
|
Interests Received |
899,454,977 |
837,789,561 |
1,195,039,585 |
|
Interests Paid |
-667,185,460 |
-415,991,913 |
-565,426,295 |
|
Income Taxes |
-1,685,554,870 |
-4,303,934,081 |
-1,560,277,538 |
|
Cash Flows from
Investing |
-25,849,537,186 |
-22,737,580,970 |
-3,166,349,326 |
|
Cash Flows from
Financing |
9,828,000,000 |
2,172,020,000 |
-15,999,950,000 |
|
Increase/Decrease in
Cash |
-162,509,691 |
4,027,704 |
-10,748,047 |
|
Cash at the Beginning
of Year |
2,659,906,994 |
1,539,027,290 |
4,843,973,485 |
|
Cash at the End of
Year |
5,779,280,527 |
2,659,906,994 |
1,539,027,290 |
|
Main Products & Services |
Ethanolamines, Ethoxylates Brand Name : KONION |
|
Competitors |
AK CHEMTECH CO., LTD. MISEONG BLDG., 72-6, YONGJEON-DONG,
DONG-GU, DAEJEON, KOREA TEL:+82-42-280-5700 FAX:+82-42-621-0466 SFC CO., LTD. 11-04-0007, NATIONAL INDUSTRIAL COMPLEX,
HWACHI-DONG, YEOSU-SI, JEOLLANAM-DO, KOREA TEL:+82-61-685-8865 FAX:+82-61-685-8860 OH SUNG CHEMICAL IND. CO., LTD. 76B-11L, NAMDONG INDUSTRIAL COMPLEX,
645-10, GOJAN-DONG, NAMDONG-GU, INCHEON, KOREA TEL:+82-32-547-3321 FAX:+82-32-547-3327 |
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
KPX HOLDINGS CO., LTD.(110111-3520627) KPX CHEMICAL CO., LTD.(110111-0166903) KPX LIFE SCIENCE
CO., LTD.(206211-0029823) KPX FINE CHEMICAL CO., LTD.(110111-0234859) CHINYANG HOLDINGS
CORPORATION(180111-0618091) CHIN YANG INDUSTRY CO.,LTD.(180111-0043610) CHINYANG CHEMICAL
CORPORATION(180111-0043610) CHINYANG POLY URETHANE CO.,
LTD.(134511-0000387) KPX BIO-TECH CO., LTD.(160111-0096605) KPX DEVELOPMENT CO., LTD.(131111-0121910) CHINYANG DEVELOPMENT CO.,
LTD.(184511-0027208) CHINYANG AMC CO., LTD.(110111-0242969) CHIN YANG MOOLSAN CO., LTD.(180111-0575514) CHINYANG FOAMTECH CO., LTD.(195511-0093016) HANRIM INTECH CO., LTD.(134511-0017499) SEIL INDUSTRIAL CO., LTD.(110111-0245195) KUNDUK CORPORATION CO.,
LTD.(180111-0024925) KWANAK SANG SA CO., LTD.(134511-0018264) KYUNGHYANG HEUNGSAN CO.,
LTD.(110111-0318041) SEONG JIN CORP.(184511-0000618) SUNG JIN AMC .LTD.(110111-4703214) BOHYUN SANGSA CORP.(110111-0406036) JINYANG CO., LTD.(KOREA) PYUNGCHANG INVESTMENT CO., LTD.(KOREA) |
(Activity & Markets)
|
Sales/ Unit :Mil KRW |
2012 |
2011 |
2010 |
|
Export |
87,448 |
55,207 |
69,497 |
|
Domestic |
129,706 |
122,193 |
99,636 |
|
Total |
217,154 |
177,400 |
169,133 |
The Subject exports
to Indonesia and China.
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.03 |
|
UK Pound |
1 |
Rs.82.43 |
|
Euro |
1 |
Rs.70.49 |
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.