|
Report Date : |
24.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAM YANG METAL CO., LTD. |
|
|
|
|
Registered Office : |
178-1, Yangdong-ri, Hanam-eup, Miryang-si, Gyeongsangnam-do, Korea 627-895 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
02.01.2008 |
|
|
|
|
Com. Reg. No.: |
615-81-62243 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Manufacture of Laminated Metal, Coating and Similar Treatment of Metals |
|
|
|
|
No. of Employees : |
54 |
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
|
Company Name |
SAM YANG METAL
CO., LTD. (Korean Company
Name : “(주)삼양메탈”) |
|
Registered Address |
178-1, Yangdong-ri, Hanam-eup, Miryang-si,
Gyeongsangnam-do, Korea |
|
Zip Code |
627-895 |
|
Tel |
+82-55-391-6633 |
|
Fax |
+82-55-391-6312 |
|
E-mail |
master@samyangmetal.co.kr |
|
Website |
www.metalplus.kr |
|
Trading Address |
178-1, Yangdong-ri, Hanam-eup, Miryang-si,
Gyeongsangnam-do, Korea (New Address System : 51,
Yangdongnonggongdanji-gil, Hanam-eup, Miryang-si, Gyeongsangnam-do, Korea) |
|
Tel |
+82-55-391-6633 |
|
Fax |
+82-55-391-6312 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Laminated Metal, Coating
and Similar Treatment of Metals |
|
Main Business |
Film Lami(PEI/PVC Lami), Metal Lami(Cu-Lami, STS-Lami,
AL-Lami/Brass-Lami) |
|
Established (mm/dd/yyyy) |
01/02/2008 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Lamination film(44102001) |
|
Name |
Choi Sung-Hwan |
|
Address |
Suite 103-1803, 74, Gwajung-ro, Yeonje-gu,
Busan, Korea |
|
Date of Birth |
12/28/1959 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
1,000,000,000 |
||||||||||||||||||
|
Employees |
54 |
||||||||||||||||||
|
Formation |
Co., Ltd by Shares |
||||||||||||||||||
|
Bank Details |
Shinhan Bank-Sungsu Dong Branch Industrial Bank of Korea |
||||||||||||||||||
|
Corporate Registered No. |
180111-0617499 |
||||||||||||||||||
|
Business Registered No. |
615-81-62243 |
||||||||||||||||||
|
Permit & Licenses |
Int’l Trade No.: 30694264 |
||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||
|
Company History |
01/02/2008 Incorporated as Metal Plus Co.,
Ltd. 03/31/2008 Moved to the present HQ address
from 1481-2, Songjeong-dong, Gangseo-gu, Busan, Korea 07/16/2010 Changed company name to the
present name 07/16/2010 Increased the authorized shares
to 2,400,000 shares from 800,000 shares 01/11/2011 Increased capital to
1,000,000,000 KRW(200,000 shares) from 10,000,000 KRW(2,000 shares) |
||||||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Choi Sung-Hwan |
Male |
Korean |
01/02/2013 |
|
Director |
Mr. |
Kim Koo-Sub |
Male |
Korean |
12/18/2009 |
|
Director |
M/S. |
Eo Won-Kyung |
Female |
Korean |
06/14/2012 |
|
Director |
Mr. |
Cho Ho-Yong |
Male |
Korean |
12/10/2012 |
|
Auditor |
Mr. |
Lee Jae-Bong |
Male |
Korean |
06/14/2012 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
11,279,777,135 |
14,987,329,886 |
-5,806,997,714 |
|
|
2011 |
5,316,325,956 |
14,716,490,879 |
-5,703,150,733 |
|
2010 |
5,704,607,794 |
13,708,673,712 |
-3,694,997,153 |
|
2009 |
2,346,284,127 |
14,895,626,648 |
-4,791,849,021 |
|
2008 |
- |
14,454,392,217 |
-748,601,193 |
|
Authorized Capital(KRW) |
12,000,000,000 |
|
Paid-Up Capital(KRW) |
1,000,000,000 |
|
Total Issued Shares |
200,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Total Assets |
14,987,329,886 |
14,716,490,879 |
13,708,673,712 |
|
Current Assets |
5,780,513,172 |
4,601,740,033 |
2,369,734,610 |
|
-Quick Assets |
2,275,585,251 |
1,864,332,081 |
909,633,900 |
|
-Inventories |
3,504,927,921 |
2,737,407,952 |
1,460,100,710 |
|
Fixed Assets |
9,206,816,714 |
10,114,750,846 |
11,338,939,102 |
|
-Investment |
3,000,000 |
- |
- |
|
-Tangibles |
9,169,059,963 |
10,083,928,095 |
11,304,964,351 |
|
-Intangibles |
10,656,751 |
19,808,751 |
28,960,751 |
|
-Others |
24,100,000 |
11,014,000 |
5,014,000 |
|
Total Liabilities |
30,753,077,660 |
24,675,240,939 |
18,954,273,039 |
|
Current Liabilities |
27,456,759,100 |
20,476,302,360 |
13,860,972,529 |
|
Fixed Liabilities |
3,296,318,560 |
4,198,938,579 |
5,093,300,510 |
|
Capital Stock |
1,000,000,000 |
1,000,000,000 |
10,000,000 |
|
Capital Surplus |
- |
- |
3,990,000,000 |
|
Profit Surplus |
-16,755,595,814 |
-10,948,598,100 |
-9,235,447,367 |
|
Capital Adjustment |
-10,151,960 |
-10,151,960 |
-10,151,960 |
|
Total Equity |
-15,765,747,774 |
-9,958,750,060 |
-5,245,599,327 |
|
Liab. & Shareholder’s Equity |
14,987,329,886 |
14,716,490,879 |
13,708,673,712 |
|
Current Liabilities |
27,456,759,100 |
20,476,302,360 |
13,860,972,529 |
|
Trade Payables |
1,749,819,802 |
558,701,122 |
633,430,393 |
|
Account Payables |
322,131,980 |
307,249,200 |
297,926,325 |
|
Withholdings |
12,246,330 |
9,387,758 |
4,730,150 |
|
Advance Receipts |
35,962,000 |
- |
- |
|
Short-Term Borrowings |
22,149,673,568 |
17,416,673,568 |
10,516,673,568 |
|
Accrued Expenses |
2,268,765,420 |
1,241,390,712 |
433,252,093 |
|
Current Portion of Long-Term Debts |
918,160,000 |
942,900,000 |
1,974,960,000 |
|
Fixed Liabilities |
3,296,318,560 |
4,198,938,579 |
5,093,300,510 |
|
Long-Term Borrowings |
3,218,100,000 |
4,136,260,000 |
5,079,160,000 |
|
Provision for Severance & Retirement |
78,218,560 |
62,678,579 |
14,140,510 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Sales |
11,279,777,135 |
5,316,325,956 |
5,704,607,794 |
|
Cost of Sold Goods |
14,748,974,873 |
9,164,748,636 |
8,631,513,070 |
|
Gross Profit |
-3,469,197,738 |
-3,848,422,680 |
-2,926,905,276 |
|
Selling & Admin. Expenses |
611,307,567 |
586,560,277 |
573,722,148 |
|
Operating Income |
-4,080,505,305 |
-4,434,982,957 |
-3,500,627,424 |
|
Non-Operating Income |
24,223,320 |
392,594,037 |
895,715,950 |
|
Non-Operating Expenses |
1,750,715,729 |
1,660,761,813 |
1,090,085,679 |
|
Income Before Taxes |
-5,806,997,714 |
-5,703,150,733 |
-3,694,997,153 |
|
Income Taxes Expenses |
- |
- |
- |
|
Net Income |
-5,806,997,714 |
-5,703,150,733 |
-3,694,997,153 |
Cash
Flows
|
|||
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Cash Flows from Operating |
-3,785,146,211 |
-5,456,714,015 |
-2,282,854,890 |
|
-Net Income |
-5,806,997,714 |
-5,703,150,733 |
-3,694,997,153 |
|
-Exp. without Cash Outflow |
1,251,124,773 |
1,577,710,811 |
2,078,888,069 |
|
-Revenue
without Cash Inflows |
- |
-7,555,898 |
-5,558,761 |
|
-Changes in
Asset/ & Liability |
770,726,730 |
-1,323,718,195 |
-661,187,045 |
|
Cash Flows
from Investing |
-263,910,491 |
-262,255,820 |
-137,177,377 |
|
-Cash Inflow
from Investing |
6,914,000 |
- |
19,345,363 |
|
-Cash
Outflows for Investing |
-270,824,491 |
-262,255,820 |
-156,522,740 |
|
Cash Flows
from Financing |
3,790,100,000 |
5,924,362,875 |
2,571,300,298 |
|
-Cash
Inflows from Financing |
4,733,000,000 |
11,899,322,875 |
8,290,000,000 |
|
-Cash
Outflows from Financing |
-942,900,000 |
-5,974,960,000 |
-5,718,699,702 |
|
Increase/Decrease
in Cash |
-258,956,702 |
205,393,040 |
151,268,031 |
|
Cash at the
Beginning of Year |
413,307,424 |
207,914,384 |
56,646,353 |
|
Cash at the End of Year |
154,350,722 |
413,307,424 |
207,914,384 |
|
Main Products & Services |
Film Lami(PEI/PVC Lami), Metal Lami(Cu-Lami, STS-Lami,
AL-Lami/Brass-Lami) |
|
Competitors |
LAMI ACE CORP. 7-7, GOMAK-RI, WOLGOT-MYEON, GIMPO-SI,
GYEONGGI-DO, KOREA TEL:+82-31-987-9495 FAX:+82-31-987-9496 K-LAMI CO., LTD. 847-2, HWAHYEON-RI, HWAHYEON-MYEON,
POCHEON-SI, GYEONGGI-DO, KOREA TEL:+82-31-531-9430~1 FAX:+82-31-531-9433 ALPET CORPORATION 169-2, JINGA-RI, MOGA-MYEON, ICHEON-SI,
GYEONGGI-DO, KOREA TEL:+82-31-631-8121 FAX:+82-31-631-8124 |
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
HWASUNG CO., LTD.(110111-0280282) SUNGHONG S&W CO., LTD.(110111-3112044) SAMYANG CHEMICAL INDUSTRIES CO., LTD.(184911-0009769) SAMYANG CHEMICAL CORPORATION(110111-0568878) |
|
Corporate Ownership |
SUNGHONG S&W CO., LTD.(110111-3112044) |
|
Major Shareholders |
SUNGHONG S&W CO., LTD.(110111-3112044) |
(Activity &
Markets)
Not Available.
|
Case No. |
Court |
Plaintiff(s)/
Creditor(s)/ Applicant(s) |
Defendant(s)/
Debtor(s)/ Respondent(s) |
Cause |
Amount (Million KRW) |
Status |
|
|
Supreme Court of Korea |
The Subject Company |
TAS ENGINEERING CO., LTD.(184511-0022084) |
Cancellation of Right on fixed
collateral |
- |
3rd round is proceeding |
|
|
Changwon District Court |
The Subject Company |
You Jin-Il |
Claim for Compensation from Damages |
- |
1st round is proceeding |
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.69 |
|
|
1 |
Rs.100.79 |
|
Euro |
1 |
Rs.86.30 |
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.