|
Report Date : |
01.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
KUM YANG CO., LTD. |
|
|
|
|
Registered Office : |
951-1, Gamjeon-dong, Sasang-gu, Busan, Korea 617-805 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
30.09.2012 |
|
|
|
|
Date of Incorporation : |
17.11.1955 |
|
|
|
|
Com. Reg. No.: |
606-81-04711 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of All Other Chemical Products |
|
|
|
|
No. of Employees : |
77 |
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 : |
Exist |
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 (31.03.2011) |
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 currently is among the world's 20 largest economies. 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. With the global economic downturn in late 2008, South Korean GDP growth slowed to 0.3% in 2009. In the third quarter of 2009, the economy began to recover, in large part due to export growth, low interest rates, and an expansionary fiscal policy, and growth was 3.6% in 2011. In 2011, the US-South Korea Free Trade Agreement was ratified by both governments and is projected to go into effect in early 2012. 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 |
KUM YANG CO.,
LTD. (Korean Company
Name : “(주)금양”) |
|
Registered Address |
951-1, Gamjeon-dong, Sasang-gu, Busan, Korea |
|
Zip Code |
617-805 |
|
Tel |
+82-51-316-5881~5 |
|
Fax |
+82-51-325-5887 |
|
E-mail |
kysale@kyc.co.kr;poisoner@kyc.co.kr;dcryu@kyc.co.kr;dcryu@kyc.co.kr |
|
Website |
www.kyc.co.kr |
|
Trading Address |
Rm. 1201, Korea Trade Tower, 159-1, Samseong
1-dong, Gangnam-gu, Seoul, Korea |
|
Tel |
+82-2-563-5907 |
|
Fax |
+8 -2-553-9078 |
|
Type |
Export |
|
Industry |
Manufacture of All Other Chemical Products n.e.c. |
|
Main Business |
Chemical Blowing Agent, Plasticizer, Master Batch |
|
Established (mm/dd/yyyy) |
11/17/1955 |
The Subject owns
the premises of registered HQ address(15,443㎡).
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Polymer masterbatches(12171701) |
|
Sell |
Foaming agents(12161903) |
|
Sell |
Cracking catalysts(12161604) |
|
Name |
Ryu Kwang-Jy |
|
Date of Birth |
05/25/1966 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
19,676,654,000 |
|||||||||||||||
|
Employees |
77 |
|||||||||||||||
|
Formation |
Listed Company (Korea Stock Exchange : 001570) as of
12/17/1976 Venture Business |
|||||||||||||||
|
Bank Details |
Shinhan Bank-Bujeon Dong Branch Korea Development Bank Busan Bank Kookmin Bank Hana Bank |
|||||||||||||||
|
Corporate Registered No. |
180111-0003101 |
|||||||||||||||
|
Business Registered No. |
606-81-04711 |
|||||||||||||||
|
Permit & Licenses |
01/01/2000 ISO 9002 08/01/2000 ISO 14001 Int’l Trade No.: 700087 |
|||||||||||||||
|
Shareholder Position |
|
|||||||||||||||
|
Company History |
11/17/1955 Incorporated as KUM BUK
CHEMICAL INDUSTRIES CO., LTD. 07/15/1978 Changed company name to the
present name |
|||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Education/Career |
|
President & CEO |
Mr. |
Ryu Kwang-Jy |
Korean |
1966.05.25 |
Korea University |
|
Director |
Mr. |
Seung In-Ho |
Korean |
1959.05 |
Dangook University, Korea |
|
Outside Director |
Mr. |
Yoon Kwang-Woon |
Korean |
1949.09.03 |
Chungang University |
|
Outside Director |
Mr. |
Ahn Duck-Kun |
Korean |
1967.02.28 |
Seogang University, Korea |
|
Auditor |
Mr. |
Kim Jeong-Ku |
Korean |
1966.10.21 |
Samil Accounting Company |
|
Auditor |
Mr. |
Lee Kang-Soo |
Korean |
1967.09 |
Yonsei University, Korea |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
85,279,339,469 |
127,229,019,288 |
2,932,208,069 |
|
|
(*)2011 |
100,918,699,262 |
124,086,391,998 |
2,436,780,120 |
|
(*)2010 |
90,724,087,239 |
104,994,772,301 |
1,511,752,065 |
|
2009 |
67,389,205,385 |
96,227,231,370 |
1,483,631,960 |
|
2008 |
55,441,463,748 |
84,853,281,928 |
3,250,965,564 |
|
2007 |
47,096,071,631 |
52,267,245,881 |
25,268,327 |
|
2006 |
44,724,117,122 |
43,517,284,394 |
520,234,970 |
|
2005 |
51,474,876,450 |
42,982,532,071 |
6,099,463,938 |
|
2004 |
42,855,816,549 |
42,006,212,928 |
227,054,698 |
(*)Figures are based
on the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
100,000,000,000 |
|
Paid-Up Capital(KRW) |
19,676,654,000 |
|
Total Issued Shares |
39,353,308 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
01/01/2012~09/30/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Total Assets |
127,229,019,288 |
124,086,391,998 |
104,994,772,301 |
|
Current
Assets |
46,973,482,868 |
50,168,792,675 |
38,543,665,757 |
|
Cash & Cash Equivalents |
5,228,725,992 |
10,098,518,179 |
6,963,146,316 |
|
Current Financial Instruments |
5,955,000,000 |
7,240,000,000 |
5,370,000,000 |
|
Trade Receivables |
26,985,393,168 |
24,644,593,330 |
19,487,054,834 |
|
Advance Payments |
163,858,553 |
548,547,483 |
681,345,190 |
|
Prepaid Expenses |
15,961,981 |
26,609,977 |
27,988,302 |
|
Deferred Income Tax Assets |
0 |
0 |
55,123,730 |
|
Other Receivables |
553,719,888 |
726,399,223 |
375,567,297 |
|
Inventories |
8,070,823,286 |
6,884,124,483 |
5,583,440,088 |
|
Non-Current
Assets |
80,255,536,420 |
73,917,599,323 |
66,451,106,544 |
|
Long-Term Trade Receivables |
603,803,298 |
587,185,936 |
561,458,579 |
|
Non-Current Financial Instruments |
533,201,378 |
59,291,378 |
587,411,378 |
|
Marketable Financial Instruments |
405,412,050 |
374,324,106 |
568,223,712 |
|
Investment_Related Companies |
54,567,359,744 |
48,819,941,950 |
41,304,691,586 |
|
Other Receivables |
682,850,216 |
647,235,216 |
675,490,476 |
|
Tangibles |
23,441,018,613 |
23,407,729,616 |
22,731,939,692 |
|
Intangibles |
878,671 |
878,671 |
878,671 |
|
Other Non-Current Assets |
21,012,450 |
21,012,450 |
21,012,450 |
|
Total
Liabilities |
82,267,208,343 |
81,062,141,393 |
62,922,439,246 |
|
Current
Liabilities |
68,636,462,574 |
70,798,827,968 |
48,486,637,285 |
|
Trade Payables |
13,552,336,450 |
11,292,215,824 |
6,680,145,574 |
|
Short-Term Borrowings |
51,896,287,174 |
51,677,655,152 |
35,221,460,968 |
|
Current Portion of Long-Term
Debts |
1,000,000,000 |
5,995,147,709 |
5,000,000,000 |
|
Deferred Income Tax Credit |
141,578,378 |
143,290,600 |
0 |
|
Advance Receipts |
364,651,201 |
87,291,423 |
321,462,703 |
|
Withholdings |
50,783,323 |
72,248,118 |
57,640,344 |
|
Other Payables |
1,630,826,048 |
1,530,979,142 |
1,205,927,696 |
|
Non-Current
Liabilities |
13,630,745,769 |
10,263,313,425 |
14,435,801,961 |
|
Debentures |
8,193,237,745 |
3,995,895,354 |
9,983,007,095 |
|
Long-Term Borrowings |
750,000,000 |
2,000,000,000 |
0 |
|
Provision for Severance &
Retirement |
668,897,592 |
225,809,117 |
421,185,495 |
|
Deferred Income Tax Credit |
4,018,610,432 |
4,041,608,954 |
4,031,609,371 |
|
Capital
Stock |
19,676,654,000 |
19,676,654,000 |
19,676,654,000 |
|
Capital Surplus |
244,674,433 |
244,674,433 |
244,674,433 |
|
Installments |
14,777,395,668 |
14,777,395,668 |
14,777,395,668 |
|
Others |
-3,549,766,560 |
-3,549,766,560 |
-2,822,062,360 |
|
Profit Surplus |
13,812,853,404 |
11,875,293,064 |
10,195,671,314 |
|
Total Equity |
44,961,810,945 |
43,024,250,605 |
42,072,333,055 |
|
Liab. & Shareholder’s Equity |
127,229,019,288 |
124,086,391,998 |
104,994,772,301 |
Income
Statement
|
|||
|
Unit : Korean Won |
01/01/2012~09/30/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Sales |
85,279,339,469 |
100,918,699,262 |
90,724,087,239 |
|
Cost of Sold Goods |
73,949,650,648 |
87,166,520,382 |
79,068,564,244 |
|
Gross Profit |
11,329,688,821 |
13,752,178,880 |
11,655,522,995 |
|
Selling & Admin. Expenses |
5,791,128,649 |
7,625,602,312 |
7,462,432,909 |
|
Other Operating Income |
32,606,635 |
69,447,416 |
138,141,374 |
|
Other Operating Expenses |
11,773,300 |
60,014,740 |
363,578,397 |
|
Operating Income |
5,559,393,507 |
6,136,009,244 |
3,967,653,063 |
|
Finance Income |
1,519,616,197 |
1,976,930,193 |
2,097,894,853 |
|
Finance Expenses |
-3,894,766,324 |
-5,431,495,710 |
-4,589,127,530 |
|
Income Before Taxes |
3,184,243,380 |
2,681,443,727 |
1,476,420,386 |
|
Income Taxes Expenses |
252,035,311 |
244,663,607 |
-35,331,679 |
|
Net Income |
2,932,208,069 |
2,436,780,120 |
1,511,752,065 |
Cash
Flows
|
|||
|
Unit : Korean Won |
01/01/2012~09/30/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Operating
Activities Cash Flows |
2,973,488,105 |
1,114,958,400 |
1,757,738,571 |
|
Net Income |
2,932,208,069 |
2,436,780,120 |
1,511,752,065 |
|
Adjustment |
3,362,587,955 |
4,601,627,037 |
3,867,462,208 |
|
Changes in Asset/ & Liability |
-488,928,387 |
-2,773,137,137 |
-1,236,799,783 |
|
Income Taxes |
-253,747,533 |
-46,249,277 |
0 |
|
Interests Received |
316,186,300 |
269,935,956 |
419,132,264 |
|
Interests Paid |
-2,894,818,299 |
-3,373,998,299 |
-2,803,808,183 |
|
Cash Flows from Investing |
-5,383,940,466 |
-9,889,331,917 |
-6,291,353,823 |
|
Cash Flows from Financing |
-2,458,825,526 |
11,934,288,645 |
5,172,269,549 |
|
Increase/Decrease in Cash |
-4,869,792,187 |
3,135,371,863 |
625,362,070 |
|
Cash at the Beginning of Year |
10,098,518,179 |
6,963,146,316 |
6,337,784,246 |
|
Cash at the End of Year |
5,228,725,992 |
10,098,518,179 |
6,963,146,316 |
|
Main Products & Services |
Chemical Blowing Agent, Plasticizer, Master Batch Brand Name CELLCOM |
|
Customers |
PVC, PE, EVA manufacturers |
|
Competitors |
DONGGU IND. CO., LTD. 350-1, MAJANG-RI, GWANGTAN-MYEON, PAJU-SI,
GYEONGGI-DO, KOREA TEL:+82-31-948-5381 FAX:+82-31-948-5387 YOO KWANG CHEMICAL CO., LTD. 190-1, YUSAN-DONG, YANGSAN-SI, GYEONGSANGNAM-DO,
KOREA TEL:+82-55-386-3101 FAX:+82-55-386-3221 ORION POLYTECH CO., LTD. RM. 208, WORLD MERIDIAN 1-CHA, 60-24,
GASAN-DONG, GEUMCHEON-GU, SEOUL, KOREA TEL:+82-2-2113-7550 FAX:+82-2-2113-7553 |
(Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
ILOVESCHOOL JAPAN (50.0% held by the subject company) |
|
Subsidiary |
KUMYANG CHEMICALS HONG KONG LTD. (100.0% held by the subject company) K&J CHEMICAL CO., LTD. (70.0% held by the subject company) KUMYANG CHEMICAL SHANGHAI CO., LTD. (100.0% held by the subject company) KUMYANG(LIANYUNGANG) CHEMICAL CO., LTD. (100.0% held by the subject company) KUMYANG USA INC. (100.0% held by the subject company) KUMYANG AMERICA LTD. (100.0% held by the subject company) HAN DONG MAO YI (100.0% held by the subject company) KUMYANG CHEMICALS HONG KONG LTD. (100.0% held by the subject company) KUMYANG NEIMENGGU CHEMICAL CO., LTD. (100.0% held by the subject company) KUNMING KUMYANG CHEMICAL CO., LTD. (31.7% held by the subject company, 68.3%
held by KUMYANG CHEMICALS HONG KONG LTD.) |
(Activity & Markets)
|
Sales/ Unit :Mil KRW |
09/2012 |
2011 |
2010 |
|
Export |
57,537 |
68,753 |
62,372 |
|
Domestic |
27,742 |
32,166 |
28,352 |
|
Total |
85,279 |
100,919 |
90,724 |
The subject deals
with the companies in Asia, USA and European countries.
|
Case No. |
Court |
Plaintiff(s)/
Creditor(s)/ Applicant(s) |
Defendant(s)/
Debtor(s)/ Respondent(s) |
Cause |
Amount (Million KRW) |
Status |
|
|
|
Mitsui O.S.K Lines Ltd |
The Subject Company / Kumyang Chemicals (Shanghai) Co., Ltd. / Shanghai Yunhong
Transportation Co., Ltd. |
MOL |
USD 45,000,000.00 |
Proceeding |
|
|
|
DELMASS SAS |
The Subject Company / Kumyang Chemicals (Shanghai) Co., Ltd. |
Claim for Compensation from Damages of Container Firing |
USD 16,561.25 SGD 137,776.43 |
Rejected |
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.29 |
|
|
1 |
Rs.84.22 |
|
Euro |
1 |
Rs.72.23 |
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.