|
Report Date : |
12.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
LUCKY ENPLA CO.,
LTD. |
|
|
|
|
Registered Office : |
460-1, Haksan-ri, Gasan-myeon, Chilgok-gun, Gyeongsangbuk-do, Korea |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
19.01.1994 |
|
|
|
|
Com. Reg. No.: |
503-81-22706 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Manufacture of Synthetic Resin and Other Plastic Materials |
|
|
|
|
No. of Employees : |
47 |
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 |
|
Company Name |
LUCKY ENPLA CO.,
LTD. (Korean Company
Name : “(주)럭키엔프라”) |
|
Registered Address |
460-1, Haksan-ri, Gasan-myeon,
Chilgok-gun, Gyeongsangbuk-do, Korea |
|
Zip Code |
718-912 |
|
Tel |
+82-54-972-6122 |
|
Fax |
+82-54-973-2027 |
|
E-mail |
lkenpla@luckyenpla.com |
|
Website |
www.luckyenpla.com |
|
Trading Address |
460-1, Haksan-ri, Gasan-myeon,
Chilgok-gun, Gyeongsangbuk-do, Korea (New Address System : 1306-2, Hoguk-ro,
Gasan-myeon, Chilgok-gun, Gyeongsangbuk-do, Korea) |
|
Tel |
+82-54-972-6122 |
|
Fax |
+82-54-973-2027 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Synthetic Resin and Other Plastic Materials |
|
Main Business |
Polycarbonate |
|
Established (mm/dd/yyyy) |
01/19/1994 |
The Subject owns
the premises of registered HQ address.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Acrylonitrile butadiene styrene ABS(13102001) |
|
Sell |
High Impact Polystyrene HIPS(13102027) |
|
Sell |
Thermoplastic plastics(13102000) |
|
Sell |
Vehicle trim and exterior covering(25172600) |
|
Name |
Lee Won-June |
|
Address |
Suite 102-2004, 169, Waryong-ro, Dalseo-gu,
Daegu, Korea |
|
Date of Birth |
08/11/1957 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
1,500,000,000 |
||||||||||||||||||
|
Employees |
47 |
||||||||||||||||||
|
Formation |
Co., Ltd by shares |
||||||||||||||||||
|
Bank Details |
Daegu Bank Woori Bank Shinhan Bank Kookmin Bank Korea Exchange Bank |
||||||||||||||||||
|
Corporate Registered No. |
170111-0072588 |
||||||||||||||||||
|
Business Registered No. |
503-81-22706 |
||||||||||||||||||
|
Permit & Licenses |
08/2001 UL Mark 01/2002 ISO 9001 02/2004 UL Mark 07/22/2005 ISO 9001 07/22/2005 ISO 14001 Int’l Trade No.: 13025386 |
||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||
|
Company History |
01/19/1994 Incorporated as the present name 03/2001 Designated as a Venture Business 07/16/2003 Increased capital to
1,500,000,000 KRW from 1,300,000,000 KRW 05/09/2004 Spin off the par value to 500
KRW from 10,000 KRW 04/18/2005 Designated as a Venture Business
again 11/2005 Awarded US$10 Million Export Top
Prize |
||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lee Won-June |
Male |
Korean |
01/07/2005 |
|
Director |
Mr. |
Jang Byung-Eok |
Male |
Korean |
09/18/2007 |
|
Director |
Mr. |
Kim Tae-Sik |
Male |
Korean |
12/20/2011 |
|
Auditor |
Mr. |
Lee Dae-Sung |
Male |
Korean |
06/30/2009 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
33,904,643,736 |
30,777,429,237 |
1,103,762,227 |
|
|
2011 |
41,241,001,793 |
31,493,286,356 |
562,926,917 |
|
2010 |
37,273,249,841 |
28,380,764,750 |
1,565,294,249 |
|
2009 |
29,944,409,903 |
27,586,029,370 |
1,087,501,256 |
|
2008 |
29,671,292,164 |
28,064,595,652 |
873,755,914 |
|
2007 |
29,198,450,749 |
21,460,640,226 |
1,106,674,994 |
|
2006 |
28,024,710,684 |
19,384,139,773 |
1,027,536,933 |
|
2005 |
33,091,887,108 |
18,164,141,214 |
968,992,345 |
|
2004 |
28,796,128,316 |
17,259,702,708 |
849,190,758 |
Financial
Description
|
Authorized Capital(KRW) |
20,000,000,000 |
|
Paid-Up Capital(KRW) |
1,500,000,000 |
|
Total Issued Shares |
3,000,000 |
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Total Assets |
30,777,429,237 |
31,493,286,356 |
28,380,764,750 |
|
Current Assets |
16,700,257,098 |
16,236,439,529 |
14,538,211,203 |
|
-Quick Assets |
6,807,952,751 |
7,442,580,708 |
6,551,865,748 |
|
-Inventories |
9,892,304,347 |
8,793,858,821 |
7,986,345,455 |
|
Fixed Assets |
14,077,172,139 |
15,256,846,827 |
13,842,553,547 |
|
-Investment |
11,797,016,450 |
12,643,612,296 |
11,413,737,490 |
|
-Tangibles |
1,642,589,673 |
1,837,695,551 |
1,798,004,265 |
|
-Intangibles |
394,257,865 |
330,917,173 |
222,992,573 |
|
-Others |
243,308,151 |
444,621,807 |
407,819,219 |
|
Total Liabilities |
16,144,153,263 |
17,005,670,070 |
14,216,701,432 |
|
Current Liabilities |
15,070,012,263 |
15,433,563,070 |
11,416,754,762 |
|
Fixed Liabilities |
1,074,141,000 |
1,572,107,000 |
2,799,946,670 |
|
Capital Stock |
1,500,000,000 |
1,500,000,000 |
1,500,000,000 |
|
Capital Surplus |
58,313,622 |
58,313,622 |
58,313,622 |
|
Profit Surplus |
12,312,879,212 |
11,209,116,985 |
10,646,190,068 |
|
Capital Adjustment |
762,083,140 |
1,720,185,679 |
1,959,559,628 |
|
Total Equity |
14,633,275,974 |
14,487,616,286 |
14,164,063,318 |
|
Liab. & Shareholder’s Equity |
30,777,429,237 |
31,493,286,356 |
28,380,764,750 |
|
Current Liabilities |
15,070,012,263 |
15,433,563,070 |
11,416,754,762 |
|
Trade Payables |
1,068,412,113 |
931,561,342 |
722,950,100 |
|
Short-Term Borrowings |
12,956,955,540 |
12,460,000,000 |
7,738,000,000 |
|
Account Payables |
46,347,303 |
96,824,257 |
101,719,273 |
|
Withholdings |
2,853,730 |
3,123,050 |
27,580,063 |
|
Advance Receipts |
- |
- |
12,966,135 |
|
Accrued Expenses |
267,477,577 |
325,352,421 |
261,983,412 |
|
Accrued Income Tax |
- |
- |
51,502,449 |
|
Current Portion of Long-Term Debts |
727,966,000 |
516,702,000 |
200,053,330 |
|
Current Portion of Debentures |
- |
1,100,000,000 |
2,300,000,000 |
|
Fixed Liabilities |
1,074,141,000 |
1,572,107,000 |
2,799,946,670 |
|
Long-Term Borrowings |
364,141,000 |
872,107,000 |
999,946,670 |
|
Debentures |
700,000,000 |
700,000,000 |
1,800,000,000 |
|
Provision for Severance & Retirement |
255,570,330 |
173,724,285 |
135,958,140 |
|
Leasehold Deposits |
10,000,000 |
- |
- |
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Sales |
33,904,643,736 |
41,241,001,793 |
37,273,249,841 |
|
Cost of Sold Goods |
29,408,481,597 |
37,808,927,142 |
33,560,281,409 |
|
Gross Profit |
4,496,162,139 |
3,432,074,651 |
3,712,968,432 |
|
Selling & Admin. Expenses |
2,190,696,495 |
2,075,484,529 |
1,777,933,979 |
|
Operating Income |
2,305,465,644 |
1,356,590,122 |
1,935,034,453 |
|
Non-Operating Income |
941,845,367 |
944,282,717 |
1,349,481,145 |
|
Non-Operating Expenses |
1,909,438,642 |
1,523,440,934 |
1,544,470,140 |
|
Income Before Taxes |
1,337,872,369 |
777,431,905 |
1,740,045,458 |
|
Income Taxes Expenses |
234,110,142 |
214,504,988 |
174,751,209 |
|
Net Income |
1,103,762,227 |
562,926,917 |
1,565,294,249 |
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Cash Flows from Operating |
-368,390,550 |
-484,479,859 |
914,334,175 |
|
-Net Income |
1,103,762,227 |
562,926,917 |
1,565,294,249 |
|
-Exp. without Cash Outflow |
636,404,732 |
566,784,510 |
503,147,243 |
|
-Revenue without Cash Inflows |
-541,429,247 |
-479,824,465 |
-1,031,956,212 |
|
-Changes in Asset/ & Liability |
-1,567,128,262 |
-1,134,366,821 |
-122,151,105 |
|
Cash Flows from Investing |
1,319,024,327 |
-2,091,500,500 |
-857,368,584 |
|
-Cash Inflow from Investing |
1,808,028,483 |
8,500,000 |
22,369,162 |
|
-Cash Outflows for Investing |
-489,004,156 |
-2,100,000,500 |
-879,737,746 |
|
Cash Flows from Financing |
-840,841,460 |
1,961,871,200 |
-1,961,643,022 |
|
-Cash Inflows from Financing |
1,232,845,540 |
5,453,980,000 |
200,000,000 |
|
-Cash Outflows from Financing |
-2,073,687,000 |
-3,492,108,800 |
-2,161,643,022 |
|
Increase/Decrease in Cash |
109,792,317 |
-614,109,159 |
-1,904,677,431 |
|
Cash at the Beginning of Year |
24,028,816 |
638,137,975 |
2,542,815,406 |
|
Cash at the End of Year |
133,821,133 |
24,028,816 |
638,137,975 |
|
Main Products & Services |
Engineering Plastic, Resin and High
Performance Thermoplastic Compounding using Recycling Material |
|
Detailed Products Spec. |
Domestic : 15,000 ton per annum Subsidiary in China : Approximately 20,000
ton per annum |
|
Suppliers |
HONAM PETRO CHEMICAL CORPORATION(110111-0193196) |
|
Customers |
SANGJU DAEHO GONGJUNG SORYO CO.,
LTD.(CHINA) |
|
Competitors |
SAM YANG KASEI CO., LTD. SAMYANG BLDG., 263, YEONJI-DONG, JONGNO-GU,
SEOUL, KOREA TEL:+82-2-741-5011 FAX:+82-2-740-7039 S POLYTECH CO., LTD. 425-28, SINCHEOK-RI, DEOKSAN-MYEON,
JINCHEON-GUN, CHUNGCHEONGBUK-DO, KOREA TEL:+82-43-536-9191~3 FAX:+82-43-536-9194 LG DOW POLYCARBONATE LTD. 762-1, JUNGHEUNG-DONG, YEOSU-SI,
JEOLLANAM-DO, KOREA TEL:+82-61-680-6602 FAX:+82-61-680-6604 |
|
Affiliates |
GONSAN INDEUKGA PRECISION MOTOR PARTS CO.,
LTD. (38.0% held by the subject company) |
|
Overseas Office |
SANGJU DAEHO GONGJUNG SORYO CO.,
LTD.(CHINA) WEITNAG TOWN, CHANGZHOU, JIANGSU, CHINA,
2130033 TEL :+86-519-577-4671/3 FAX :+86-519-577-6673 -SHANGHAI BRANCH A8829, JIA HUA BUSINESS CENTER NO. 808,
HONGQIAO, SHANGHAI, CHINA TEL :+86-21-6447-9550 FAX :+86-21-6448-0745 -TSINGDAO BRANCH TEL :+86-532-582-2017 |
|
Subsidiary |
SANGJU DAEHO GONGJUNG SORYO CO.,
LTD.(CHINA) (100.0% held by the subject company) |
|
Cooperative Enterprise |
-Insured Company DONGBU INSURANCE CO., LTD.(110111-0095285) |
The Subject deals
with the companies in Brazil, China, Taiwan, Hong Kong and USA.
No.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.33 |
|
|
1 |
Rs.100.79 |
|
Euro |
1 |
Rs.84.37 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.