|
Report Date : |
04.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
CLOVER CO., LTD. |
|
|
|
|
Registered Office : |
911-2, Hogye 2-dong, Dongan-gu, Anyang-si, Gyeonggi-do,
Korea |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
23.12.1992 |
|
|
|
|
Com. Reg. No.: |
123-81-30733 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Manufacture of electric appliances for kitchen |
|
|
|
|
No. of Employees : |
102 |
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 – 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 |
CLOVER CO., LTD. (Korean Company Name : “(주)크로버”) |
|
Registered
Address |
911-2, Hogye 2-dong, Dongan-gu, Anyang-si, Gyeonggi-do,
Korea |
|
Building |
|
|
Zip Code |
431-836 |
|
Tel |
+82-31-453-8288 |
|
Fax |
+82-31-425-8115 |
|
E-mail |
clover@clovercooler.co.kr;overseas@clovercooler.com;sales@clovercooler.com;
general@clovercooler.co.kr |
|
Website |
www.clover.kr |
|
Trading Address |
911-2, Hogye 2-dong, Dongan-gu, Anyang-si, Gyeonggi-do, Korea (New Address System : 61, Simin-daero 98beon-gil, Dongan-gu, Anyang-si, Gyeonggi-do, Korea) |
|
Tel |
+82-31-456-6266 |
|
Fax |
+82-31-458-5077 |
|
Type |
Export |
|
Industry |
Manufacture of Electric Appliances for Kitchen |
|
Main Business |
Electricity Water Purifiers, Bottled Water Cooler, P.O.U |
|
Sub Business |
|
|
Established
(mm/dd/yyyy) |
12/23/1992 |
The Subject owns
the premises of registered HQ address.
Detailed Products
|
Activity |
Detailed
Products (UNSPSC) |
|
Sell |
Domestic kitchen appliances(52141500) |
|
Buy |
Steel plate(30102204) |
|
Buy |
Acrylonitrile butadiene styrene resin(13111004) |
CEO’s
|
Name |
Moon Young-Mu |
|
Address |
Suite
837-1602, 33, Surisan-ro, Gunpo-si, Gyeonggi-do, Korea |
|
Date of Birth |
08/22/1950 |
|
Title |
President
& CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
200,000,000 |
||||||||||||
|
Employees |
102 |
||||||||||||
|
Formation |
Co., Ltd by shares Venture Business |
||||||||||||
|
Bank Details |
Industrial
Bank of Korea-Hogye Dong Branch |
||||||||||||
|
Corporate
Registered No. |
135111-0038301 |
||||||||||||
|
Business
Registered No. |
123-81-30733 |
||||||||||||
|
Permit &
Licenses |
Int’l Trade No.: 21011355 |
||||||||||||
|
Shareholder
Position |
|
||||||||||||
|
Company
History |
04/05/1988
Established as a Sole Proprietorship 12/23/1992
Incorporated as the present name 02/01/1999
Moved to the present HQ address 11/1999
Awarded US$5 Million Export Top Prize 11/2003
Awarded US$10 Million Export Top Prize 06/28/2007 Designated as a Venture Business 06/20/2008 Designated as a Venture Business again |
||||||||||||
|
|
|
Management
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
President & CEO |
Mr. |
Moon Young-Mu |
Male |
Korean |
02/01/1999 |
|
Director |
Mr. |
Yoo Young-Joon |
Male |
Korean |
05/02/2006 |
|
Auditor |
Mr. |
Lim Joo-Young |
Male |
Korean |
03/25/2009 |
Financials
|
Year / Unit :
KRW |
Sales |
Assets |
Net Income |
|
2012 |
27,470,758,720 |
17,308,475,453 |
3,040,468,150 |
|
2011 |
31,636,212,575 |
14,324,176,578 |
2,717,269,701 |
|
2010 |
|
|
|
|
2009 |
|
|
|
|
2008 |
|
|
|
Financial Description
|
Authorized
Capital(KRW) |
400,000,000 |
|
Paid-Up
Capital(KRW) |
200,000,000 |
|
Total Issued
Shares |
40,000 |
|
Unit : Korean
Won |
As of
12/31/2012 |
As of
12/31/2011 |
|
Total Assets |
17,308,475,453 |
14,324,176,578 |
|
Current Assets |
10,369,869,453 |
8,081,070,507 |
|
-Quick Assets |
8,776,876,553 |
6,763,448,511 |
|
-Inventories |
1,592,992,900 |
1,317,621,996 |
|
Fixed Assets |
6,938,606,000 |
6,243,106,071 |
|
-Investment |
6,155,000 |
5,195,000 |
|
-Tangibles |
6,807,734,175 |
6,191,782,514 |
|
-Intangibles |
26,775,915 |
30,728,557 |
|
-Others |
97,940,910 |
15,400,000 |
|
Total
Liabilities |
5,066,277,707 |
5,122,446,982 |
|
Current
Liabilities |
1,291,570,120 |
1,306,084,857 |
|
Fixed
Liabilities |
3,774,707,587 |
3,816,362,125 |
|
Capital Stock |
200,000,000 |
200,000,000 |
|
Capital
Surplus |
|
|
|
Profit Surplus |
12,042,197,746 |
9,001,729,596 |
|
Capital
Adjustment |
|
|
|
Total Equity |
12,242,197,746 |
9,201,729,596 |
|
Liab. &
Shareholder’s Equity |
17,308,475,453 |
14,324,176,578 |
|
Current
Liabilities |
1,291,570,120 |
1,306,084,857 |
|
Trade Payables |
465,054,638 |
665,446,129 |
|
Account Payables |
55,901,467 |
61,710,143 |
|
Advance Receipts |
162,197,687 |
242,573,186 |
|
Withholdings |
74,181,510 |
42,897,040 |
|
Accrued Expenses |
308,232,325 |
1,654,725 |
|
Accrued Income Tax |
226,002,493 |
291,803,634 |
|
Fixed
Liabilities |
3,774,707,587 |
3,816,362,125 |
|
Long-Term Borrowings |
3,500,000,000 |
3,500,000,000 |
|
Provision for Sales Guarantee |
274,707,587 |
316,362,125 |
|
Unit : Korean
Won |
As of
12/31/2012 |
As of
12/31/2011 |
|
Sales |
27,470,758,720 |
31,636,212,575 |
|
Cost of Sold
Goods |
21,786,979,788 |
26,133,473,680 |
|
Gross Profit |
5,683,778,932 |
5,502,738,895 |
|
Selling &
Admin. Expenses |
2,473,702,883 |
2,562,991,886 |
|
Operating
Income |
3,210,076,049 |
2,939,747,009 |
|
Non-Operating
Income |
479,511,496 |
401,567,423 |
|
Non-Operating
Expenses |
279,489,048 |
257,728,728 |
|
Income Before
Taxes |
3,410,098,497 |
3,083,585,704 |
|
Income Taxes
Expenses |
369,630,347 |
366,316,003 |
|
Net Income |
3,040,468,150 |
2,717,269,701 |
|
Unit : Korean
Won |
As of
12/31/2012 |
As of
12/31/2011 |
|
Cash Flows
from Operating |
3,037,802,555 |
2,292,047,317 |
|
-Net Income |
3,040,468,150 |
2,717,269,701 |
|
-Exp. without
Cash Outflow |
93,344,075 |
249,000,659 |
|
-Revenue
without Cash Inflows |
-12,512,505 |
-7,187,817 |
|
-Changes in
Asset/ & Liability |
-83,497,165 |
-667,035,226 |
|
Cash Flows
from Investing |
-6,057,832,541 |
-5,157,114,810 |
|
-Cash Inflow
from Investing |
11,903,636 |
5,500,000 |
|
-Cash Outflows
for Investing |
-6,069,736,177 |
-5,162,614,810 |
|
Cash Flows
from Financing |
- |
3,000,000,000 |
|
-Cash Inflows
from Financing |
- |
3,500,000,000 |
|
-Cash Outflows
from Financing |
- |
-500,000,000 |
|
Increase/Decrease
in Cash |
-3,020,029,986 |
134,932,507 |
|
Cash at the
Beginning of Year |
4,444,507,996 |
4,309,575,489 |
|
Cash at the
End of Year |
1,424,478,010 |
4,444,507,996 |
Products,
Technologies, Services Description
|
Main Products
& Services |
Bottled Water Coolers POU Water Coolers Chiller Accessories Brand Name : Clover |
|
Detailed
Products Spec. |
|
|
Technologies
Acquired |
|
Trade Partners &
Competitors
|
Suppliers |
|
|
Customers |
|
|
Competitors |
DONGHWAN
INDUSTRIAL CORP. 52,
SEONGSAN-DONG, CHANGWON-SI, GYEONGSANGNAM-DO, KOREA TEL:+82-55-280-4700 FAX:+82-55-283-3004 ILRIM NANOTEC
CO., LTD. 24-14,
PALYONG-DONG, CHANGWON-SI, GYEONGSANGNAM-DO, KOREA TEL:+82-55-292-4022 FAX:+82-55-297-4022 KIRYUN
AIRCONDITIONING IND. CO., LTD. 197-36,
PALBOKDONG 1-GA, DEOKJIN-GU, JEONJU-SI, JEOLLABUK-DO, KOREA TEL:+82-63-214-8306 FAX:+82-63-214-8305 |
Sales by Region
(Activity & Markets)
The Subject
exports to Japan, UK and USA.
Court Action
Not Available.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.34 |
|
|
1 |
Rs.102.06 |
|
Euro |
1 |
Rs.84.46 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.