|
Report Date : |
05.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
TERAVISION CORPORATION |
|
|
|
|
Registered Office : |
388-28, Jangji-dong, Gwangju-si, Gyeonggi-do, Korea 464-070 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
07.04.2001 |
|
|
|
|
Com. Reg. No.: |
129-81-43288 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Manufacture of Video and Other Audio Equipment |
|
|
|
|
No. of Employees : |
13 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 |
Basic
|
Company Name |
TERAVISION CORPORATION |
|
Registered Address |
388-28, Jangji-dong, Gwangju-si, Gyeonggi-do, Korea |
|
Zip Code |
464-070 |
|
Tel |
+82-31-701-0251 |
|
Fax |
+82-31-701-5891 |
|
E-mail |
moon@teravision.co.kr;jhkim@teravision.co.kr |
|
Website |
www.teravision.co.kr |
|
Trading Address |
388-28, Jangji-dong, Gwangju-si, Gyeonggi-do, Korea (New Address System : 34-29, Jangji 9-gil, Gwangju-si, Gyeonggi-do, Korea) |
|
Tel |
+82-31-701-0251 |
|
Fax |
+82-31-701-5891 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Video and Other Audio Equipment |
|
Main Business |
CRT TV Board Kits, LCD TV Board Kits |
|
Established (mm/dd/yyyy) |
07/04/2001 |
Mr. Kim Soo-Tae owns the premises of registered
HQ address.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Bare printed circuit boards(32131010) |
|
Sell |
System boards processors interfaces or modules(43201500) |
|
Name |
Kim Soo-Tae |
|
Address |
Suite 206-1002, 221, Seolleung-ro,
Gangnam-gu, Seoul, Korea |
|
Date of Birth |
07/17/1954 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
200,000,000 |
||||||||||||||||||
|
Employees |
13 |
||||||||||||||||||
|
Formation |
Co., Ltd by shares Venture Business |
||||||||||||||||||
|
Bank Details |
Kookmin Bank-Yongin Branch Korea Exchange Bank Kookmin Bank-Yongin Branch Hana Bank |
||||||||||||||||||
|
Corporate Registered No. |
131111-0063063 |
||||||||||||||||||
|
Business Registered No. |
129-81-43288 |
||||||||||||||||||
|
Permit & Licenses |
Int’l Trading No. : 30034824 |
||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||
|
Company History |
07/04/2001 Incorporated as the present name 11/30/2003 Awarded US$ 5 Million Export
Prize 07/19/2004 Increased the capital to
200,000,000KRW 11/2004 Awarded US$10 Million Export Top
Prize 2005 Designated as a Korea"s BEST
IT Company by the Korean Government 01/01/2006 Designated as a Venture Business 03/2006 Designated as an INNO-BIZ 05/30/2006 Moved to the present HQ address
from 174-4, Yatap-dong, Bundang-gu, Seongnam-si, Gyeonggi-do, Korea 11/11/2007 Spin off the par value to 500 KRW from 5,000 KRW 11/11/2007 Increased the authorized shares to 10,000,000 shares from
40,000 shares 02/27/2009 Designated as a Venture Business again 04/2012 Designated as an INNO-BIZ Company 08/14/2012 Designated as a Venture Business
again |
||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Kim Soo-Tae |
Male |
Korean |
07/04/2004 |
|
Director |
Mr. |
Lee Chun-Pyo |
Male |
Korean |
07/04/2004 |
|
Director |
Mr. |
Kang Moo-Soon |
Male |
Korean |
07/04/2004 |
|
Auditor |
Mr. |
Kim Soo-Chul |
Male |
Korean |
03/31/2004 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
21,425,000,000 |
|
|
|
|
2011 |
32,036,920,769 |
8,789,791,118 |
179,020,071 |
|
2010 |
39,027,090,206 |
11,263,836,786 |
199,040,434 |
|
2009 |
36,368,739,612 |
8,963,994,377 |
352,559,178 |
|
2008 |
28,937,023,553 |
7,159,325,361 |
167,723,504 |
|
2007 |
22,438,475,239 |
7,517,282,986 |
100,616,289 |
|
2006 |
26,330,610,000 |
6,495,000,000 |
445,030,000 |
|
2005 |
33,324,300,000 |
5,958,000,000 |
325,440,000 |
|
2004 |
23,208,000,000 |
2,264,000,000 |
231,000,000 |
|
2003 |
13,917,000,000 |
1,511,000,000 |
309,000,000 |
The latest financials are not available, and
the Subject Company does not have any obligations to release its financials to
the public.
|
Authorized Capital(KRW) |
50,000,000,000 |
|
Paid-Up Capital(KRW) |
200,000,000 |
|
Total Issues Shares |
400,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Total Assets |
8,789,791,118 |
11,263,836,786 |
8,963,994,377 |
|
Current Assets |
4,689,988,189 |
6,691,212,118 |
4,897,996,558 |
|
-Quick Assets |
2,809,733,550 |
3,499,647,844 |
3,397,448,784 |
|
-Inventories |
1,880,254,639 |
3,191,564,274 |
1,500,547,774 |
|
Fixed Assets |
4,099,802,929 |
4,572,624,668 |
4,065,997,819 |
|
-Investment |
788,120,000 |
664,949,000 |
499,545,940 |
|
-Tangibles |
88,692,618 |
184,930,449 |
212,055,863 |
|
-Intangibles |
431,637,159 |
490,479,059 |
549,320,959 |
|
-Others |
2,791,353,152 |
3,232,266,160 |
2,805,075,057 |
|
Total Liabilities |
6,502,992,587 |
9,153,919,220 |
7,052,277,085 |
|
Current Liabilities |
6,168,366,837 |
8,863,644,543 |
6,809,391,898 |
|
Fixed Liabilities |
334,625,750 |
290,274,677 |
242,885,187 |
|
Capital Stock |
200,000,000 |
200,000,000 |
200,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
2,097,628,992 |
1,918,608,921 |
1,719,568,487 |
|
Capital Adjustment |
-10,830,461 |
-8,691,355 |
-7,851,195 |
|
Total Equity |
2,286,798,531 |
2,109,917,566 |
1,911,717,292 |
|
Liab. & Shareholder’s Equity |
8,789,791,118 |
11,263,836,786 |
8,963,994,377 |
|
Current Liabilities |
6,168,366,837 |
8,863,644,543 |
6,809,391,898 |
|
Trade Payables |
522,747,886 |
2,231,299,666 |
1,308,451,706 |
|
Account Payables |
17,630,866 |
117,590,495 |
80,783,664 |
|
Withholdings |
17,314,050 |
17,948,880 |
21,817,600 |
|
Advance Receipts |
213,623,333 |
592,296,854 |
1,380,207,812 |
|
Short-Term Borrowings |
5,365,931,686 |
5,726,404,443 |
3,731,218,849 |
|
Accrued Income Tax |
3,633,669 |
6,437,296 |
95,254,373 |
|
Accrued Expenses |
26,899,255 |
27,200,201 |
36,848,208 |
|
Guarantee Deposit Withhold |
- |
143,619,708 |
143,619,708 |
|
Short-Term Borrowings to Shareholders/ Executives/ Employees |
586,092 |
847,000 |
11,189,978 |
|
Fixed Liabilities |
334,625,750 |
290,274,677 |
242,885,187 |
|
Provision for Severance & Retirement |
334,625,750 |
290,274,677 |
242,885,187 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Sales |
32,036,920,769 |
39,027,090,206 |
36,368,739,612 |
|
Cost of Sold Goods |
27,224,459,471 |
34,418,655,915 |
31,005,891,919 |
|
Gross Profit |
4,812,461,298 |
4,608,434,291 |
5,362,847,693 |
|
Selling & Admin. Expenses |
4,363,655,418 |
4,181,943,414 |
4,869,323,462 |
|
Operating Income |
448,805,880 |
426,490,877 |
493,524,231 |
|
Non-Operating Income |
609,795,915 |
873,980,844 |
1,240,891,670 |
|
Non-Operating Expenses |
853,512,845 |
1,075,142,174 |
1,266,610,060 |
|
Income Before Taxes |
205,088,950 |
225,329,547 |
467,805,841 |
|
Income Taxes Expenses |
26,068,879 |
26,289,113 |
115,246,663 |
|
Net Income |
179,020,071 |
199,040,434 |
352,559,178 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Cash Flows from Operating |
-350,093,312 |
-1,153,061,410 |
796,522,387 |
|
-Net Income |
179,020,071 |
199,040,434 |
352,559,178 |
|
-Exp. without Cash Outflow |
358,436,749 |
427,712,441 |
451,720,458 |
|
-Revenue without Cash Inflows |
-11,739,559 |
-157,509,261 |
-44,425,203 |
|
-Changes in Asset/ & Liability |
-875,810,573 |
-1,622,305,024 |
36,667,954 |
|
Cash Flows from Investing |
276,164,498 |
-674,239,471 |
-726,824,242 |
|
-Cash Inflow from Investing |
575,588,726 |
1,445,620,181 |
853,800,440 |
|
-Cash Outflows for Investing |
-299,424,228 |
-2,119,859,652 |
-1,580,624,682 |
|
Cash Flows from Financing |
-360,733,665 |
1,984,842,616 |
442,919,310 |
|
-Cash Inflows from Financing |
5,488,023,840 |
5,476,968,931 |
6,039,510,358 |
|
-Cash Outflows from Financing |
-5,848,757,505 |
-3,492,126,315 |
-5,596,591,048 |
|
Increase/Decrease in Cash |
-434,662,479 |
157,541,735 |
512,617,455 |
|
Cash at the Beginning of Year |
737,557,122 |
580,015,387 |
67,397,932 |
|
Cash at the End of Year |
302,894,643 |
737,557,122 |
580,015,387 |
|
Main Products & Services |
CRT TV Board Kits, LCD TV Board Kits |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
|
|
Competitors |
JEONGMIN ELECTRONICS CO., LTD. 7TH FL., SIBEOM INDUSTRIAL COMPLEX, 377-3,
YONGHO 3-DONG, NAM-GU, BUSAN, KOREA TEL:+82-51-627-7342 FAX:+82-51-627-7345 ESTECOM CO., LTD. RM. 705, GUNPO I-VALLEY, 14-1, DANG-DONG,
GUNPO-SI, GYEONGGI-DO, KOREA TEL:+82-31-427-8105 FAX:+82-31-427-8108 PETEC KOREA INC. 4TH FL., NATIONAL AGRICULTURAL COOPERATIVE
FEDERATION BLDG., 900-19, SINJEONG 4-DONG, YANGCHEON-GU, SEOUL, KOREA TEL:+82-2-2604-3684 FAX:+82-2-2604-4735 |
|
Affiliates |
|
|
Overseas Office |
|
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
|
|
Subsidiary |
|
|
Corporate Ownership |
|
|
Major Shareholders |
|
|
Cooperative Enterprise |
-Insured Company LIG INSURANCE CO., LTD(110111-0017859) -Cooperative Organization ELECTRONICS AND TELECOMMUNICATIONS RESEARCH
INSTITUTE(ETRI) |
|
Sales/ Unit :Mil KRW |
2012 |
2011 |
2010 |
|
Export |
|
|
|
|
Domestic |
|
|
|
|
Total |
|
|
|
The subject exports to India, Iran, Japan,
Vietnam and Argentina.
|
Case No. |
Court |
Plaintiff(s)/ Creditor(s)/ Applicant(s) |
Defendant(s)/ Debtor(s)/ Respondent(s) |
Cause |
Amount (KRW) |
Status |
|
2010DA102755 |
Supreme Court of Korea |
The Subject Company |
Phenix International Co., Ltd.(Korea) |
Claim for Compensation form Damages |
232,200,000 |
3rd round is proceeding |
|
2012GADAN6560 |
Suwon District Court |
The Subject Company |
Dawoo Plan Co., Ltd.(Korea) |
Receivables |
31,020,000 |
1st round is proceeding. |
|
2012CHA546 |
Suwon District Court |
The Subject Company |
Mr. Lee Ho(Individual) |
Claim for Compensation form Damages |
565,000,000 |
Proceeding |
Not Available
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.80 |
|
|
1 |
Rs.91.95 |
|
Euro |
1 |
Rs.80.36 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.