|
Report Date : |
04.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
KOMEX CARBON CORPORATION |
|
|
|
|
Registered Office : |
219-1, Sinneung-ri, Seoun-myeon, Anseong-si, Gyeonggi-do, Korea 456-853 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
03.01.1994 |
|
|
|
|
Com. Reg. No.: |
123-81-33803 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Manufacture of Other Unclassified Non-metallic Minerals |
|
|
|
|
No. of Employees : |
80 |
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 : |
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 – 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 |
KOMEX CARBON CORPORATION (Korean Company
Name : “코멕스카본”) |
|
Registered Address |
219-1, Sinneung-ri, Seoun-myeon,
Anseong-si, Gyeonggi-do, Korea |
|
Zip Code |
456-853 |
|
Tel |
+82-31-671-7964~7 |
|
Fax |
+82-31-671-7969 |
|
E-mail |
kssuh@komexcarbon.co.kr;komax@chollian.net |
|
Website |
www.komexcarbon.co.kr |
|
Trading Address |
219-1, Sinneung-ri, Seoun-myeon,
Anseong-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-671-7964~7 |
|
Fax |
+82-31-671-7969 |
|
Other Address-Daegu Office |
14Dong-12 Ho., 1629, Sangyeok 2-dong,
Buk-gu, Daegu, Korea |
|
Tel |
+82-53-604-5213~4 |
|
Fax |
+82-53-604-5212 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Other Unclassified Non-metallic Minerals n. e. c. |
|
Main Business |
Carbon, Graphite Jigs, Graphite Heater, Graphite Insulator |
|
Established (mm/dd/yyyy) |
01/03/1994 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Base Metals(11101700) |
|
Name |
Suh Kyu-Sik |
|
Address |
Suite 226-202, 96, Seohyeon-dong,
Bundang-gu, Seongnam-si, Gyeonggi-do, Korea |
|
Date of Birth |
05/08/1950 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
822,447,000 |
||||||||||||
|
Employees |
80 |
||||||||||||
|
Formation |
Co., Ltd by shares |
||||||||||||
|
Bank Details |
Shinhan Bank-Cheonggye Branch Industrial Bank of Korea-Sanbon Branch Kookmin Bank |
||||||||||||
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Corporate Registered No. |
135111-0039367 |
||||||||||||
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Business Registered No. |
123-81-33803 |
||||||||||||
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Permit & Licenses |
2002 ISO 9001 Int’l Trade No.: 11122476 |
||||||||||||
|
Shareholder Position |
(*)The list is based as of 12/31/2011. |
||||||||||||
|
Company History |
01/03/1994 Incorporated as the present name 04/16/2007 Moved to the present HQ address
from 175-5, Geumjeong-dong, Gunpo-si, Gyeonggi-do, Korea 12/27/2007 Increased the authorized shares
to 10,000,000 shares from 20,000 shares 12/28/2007 Increased capital to 250,000,000
KRW from 50,000,000 KRW 03/31/2008 Increased capital to 500,000,000
KRW from 250,000,000 KRW 06/11/2008 Increased capital to 566,660,000
KRW from 500,000,000 KRW 12/12/2008 Increased capital to 579,800,000
KRW from 566,660,000 KRW 12/22/2008 Acquired GTI Materials Co., Ltd. 05/06/2012 Split off the par value to 500
KRW from 10,000 KRW 03/26/2012 Increased the authorized shares
to 200,000,000 Shares from 10,000,000 shares 09/01/2012 Increased capital to 822,447,000
KRW from 704,800,000 KRW |
||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Suh Kyu-Sik |
Male |
Korean |
03/18/2008 |
|
Director |
M/S. |
Seo Eun-Kyung |
Female |
Korean |
03/18/2008 |
|
Director |
Mr. |
Kim Young-Don |
Male |
Korean |
03/26/2012 |
|
Director |
Mr. |
Lee Chang-Kyu |
Male |
Korean |
03/26/2012 |
|
Auditor |
M/S. |
Lim Hye-Bin |
Female |
Korean |
10/21/2002 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
15,145,108,451 |
15,835,144,442 |
1,101,601,202 |
|
|
2010 |
14,177,537,111 |
11,579,569,400 |
1,255,160,568 |
|
2009 |
6,549,000,000 |
9,231,000,000 |
255,000,000 |
|
2008 |
|
|
|
|
2007 |
5,213,000,000 |
6,704,000,000 |
142,000,000 |
|
2006 |
4,811,000,000 |
4,189,000,000 |
260,000,000 |
|
2005 |
4,085,000,000 |
3,402,000,000 |
208,000,000 |
|
2004 |
3,804,000,000 |
|
|
|
2003 |
3,123,000,000 |
|
|
|
Authorized Capital(KRW) |
100,000,000,000 |
|
Paid-Up Capital(KRW) |
822,447,000 |
|
Total Issued Shares |
1,644,894(Common : 1,276,280 / Preferable : 133,320 / Others /
235,294) |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Total Assets |
15,835,144,442 |
11,579,569,400 |
|
|
Current Assets |
11,471,630,135 |
8,969,391,768 |
|
|
-Quick Assets |
4,420,590,343 |
5,094,561,755 |
|
|
-Inventories |
7,051,039,792 |
3,874,830,013 |
|
|
Fixed Assets |
4,363,514,307 |
2,610,177,632 |
|
|
-Investment |
1,566,965,000 |
99,420,000 |
|
|
-Tangibles |
2,500,878,449 |
2,479,087,632 |
|
|
-Intangibles |
4,323,830 |
424,000 |
|
|
-Others |
291,347,028 |
31,246,000 |
|
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Total Liabilities |
9,664,409,772 |
6,510,435,932 |
|
|
Current Liabilities |
6,993,749,393 |
3,917,653,322 |
|
|
Fixed Liabilities |
2,670,660,379 |
2,592,782,610 |
|
|
Capital Stock |
579,800,000 |
579,800,000 |
|
|
Capital Surplus |
1,157,441,250 |
1,157,441,250 |
|
|
Profit Surplus |
4,433,493,420 |
3,331,892,218 |
|
|
Capital Adjustment |
|
|
|
|
Total Equity |
6,170,734,670 |
5,069,133,468 |
|
|
Liab. & Shareholder’s Equity |
15,835,144,442 |
11,579,569,400 |
|
|
Current Liabilities |
6,993,749,393 |
3,917,653,322 |
|
|
Trade Payables |
1,289,533,130 |
366,239,544 |
|
|
Account Payables |
279,310,975 |
412,455,827 |
|
|
Withholdings |
13,476,305 |
10,710,875 |
|
|
Advance Receipts |
15,113,695 |
3,374,321 |
|
|
Accrued Expenses |
22,545,849 |
22,502,272 |
|
|
Short-Term Borrowings |
4,694,811,259 |
2,584,190,483 |
|
|
Current Portion of Long-Term Debts |
678,958,180 |
518,180,000 |
|
|
Fixed Liabilities |
2,670,660,379 |
2,592,782,610 |
|
|
Long-Term Borrowings |
2,650,368,785 |
2,361,130,000 |
|
|
Provision for Severance & Retirement |
419,072,979 |
384,375,017 |
|
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Sales |
15,145,108,451 |
14,177,537,111 |
|
|
Cost of Sold Goods |
12,087,030,290 |
11,506,068,907 |
|
|
Gross Profit |
3,058,078,161 |
2,671,468,204 |
|
|
Selling & Admin. Expenses |
1,673,208,643 |
1,208,530,267 |
|
|
Operating Income |
1,384,869,518 |
1,462,937,937 |
|
|
Non-Operating Income |
299,943,729 |
226,446,642 |
|
|
Non-Operating Expenses |
583,212,045 |
434,224,011 |
|
|
Income Before Taxes |
1,101,601,202 |
1,255,160,568 |
|
|
Income Taxes Expenses |
- |
- |
|
|
Net Income |
1,101,601,202 |
1,255,160,568 |
|
Cash
Flows
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Cash Flows from Operating |
-1,821,370,923 |
-320,705,956 |
|
|
-Net Income |
1,101,601,202 |
1,255,160,568 |
|
|
-Exp. without Cash Outflow |
501,341,286 |
463,980,704 |
|
|
-Revenue without Cash Inflows |
- |
-3,053,889 |
|
|
-Changes in Asset/ & Liability |
-3,424,313,411 |
-2,036,793,339 |
|
|
Cash Flows from Investing |
-906,688,182 |
-579,543,851 |
|
|
-Cash Inflow from Investing |
1,299,319,685 |
1,467,415,756 |
|
|
-Cash Outflows for Investing |
-2,206,007,867 |
-2,046,959,607 |
|
|
Cash Flows from Financing |
2,560,637,741 |
869,129,999 |
|
|
-Cash Inflows from Financing |
5,663,008,224 |
2,904,221,500 |
|
|
-Cash Outflows from Financing |
-3,102,370,483 |
-2,035,091,501 |
|
|
Increase/Decrease in Cash |
-167,421,364 |
-31,119,808 |
|
|
Cash at the Beginning of Year |
549,887,011 |
581,006,819 |
|
|
Cash at the End of Year |
382,465,647 |
549,887,011 |
|
|
Main Products & Services |
Graphite Fiber Insulator Tungsten Mesh Heater Pitch-Base Carbon Fiber Calcium Silicate Carbon & Fiber Chop C/C Composite Products Molybden and Tungsten Boron Nitride(BN) Graphite Powder Mechanical Carbon |
|
Suppliers |
KUREHA CORPORATION(JAPAN) |
|
Competitors |
C & R TECH CO., LTD. 48-4, INBI-RI, GIGYE-MYEON, BUK-GU,
POHANG-SI, GYEONGSANGBUK-DO, KOREA TEL:+82-54-251-2030 FAX:+82-54-251-2032 SGL CARBON KARAHM CO., LTD. 1-70, BUK-RI, NONGONG-EUP, DALSEONG-GUN,
DAEGU, KOREA TEL:+82-53-616-1061 FAX:+82-53-616-1063 HANKUK CARBON CO., LTD. 183, YONGJI-RI, BUBUK-MYEON, MIRYANG-SI,
GYEONGSANGNAM-DO, KOREA TEL:+82-55-359-2401~9 FAX:+82-55-359-2429 |
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
SMT KOREA LIMITED(131311-0031082) (48.43% held by the subject company) GTI CO., LTD.(Korea) KOMEX, INC.(110111-2052415) 7TH FL., STARTING BLDG., 720-7, YEOKSAM
2-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-527-3143 FAX:+82-2-508-3173 |
|
Cooperative Enterprise |
-Insured Company SAMSUNG FIRE & MARINE INSURANCE CO., LTD.(110111-0005078) LIG INSURANCE CO., LTD.(110111-0017859) |
(Activity &
Markets)
The Subject deals with
the companies in China, Taiwan, India, Japan, Singapore and USA.
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.32 |
|
|
1 |
Rs.84.60 |
|
Euro |
1 |
Rs.72.63 |
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.