|
Report Date : |
02.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
HANYOUNG NUX
CO., LTD. |
|
|
|
|
Registered Office : |
1381-3, Juan 1-dong, Nam-gu, Incheon,
Korea 402-853 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
06.02.2002 |
|
|
|
|
Com. Reg. No.: |
107-86-17830 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Manufacture of Instruments for Automatic Measurement or Control |
|
|
|
|
No. of Employees : |
311 |
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 : |
Good |
|
Payment Behaviour : |
Regular |
|
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 |
HANYOUNG NUX
CO., LTD. (Korean Company
Name : “(주)한영넉스”) |
|
Registered Address |
1381-3, Juan 1-dong, Nam-gu, Incheon,
Korea |
|
Zip Code |
402-853 |
|
Tel |
+82-32-870-7710 |
|
Fax |
+82-32-873-8743 |
|
E-mail |
webmaster@hynux.com;pmd@hyelec.co.kr |
|
Website |
www.hynux.com |
|
Trading Address |
1381-3, Juan 1-dong, Nam-gu, Incheon, Korea |
|
Tel |
+82-32-870-7710 |
|
Fax |
+82-32-873-8743 |
|
Other Address-Jongno Branch |
54, Jangsa-dong, Jongno-gu, Seoul, Korea |
|
Other Address-Guro Branch |
Ga-Dong 1617, 1258, Guro-dong,
Guro-gu, Seoul, Korea |
|
Other Address-Busan Branch |
309-32, Jeonpo-dong, Busanjin-gu, Busan,
Korea |
|
Other Address-Daegu Branch |
23-1, Taepyeongno 1-ga, Jung-gu, Daegu, Korea |
|
Other Address-Jongno Branch |
54, Jangsa-dong, Jongno-gu, Seoul, Korea |
|
Type |
Export/Import |
|
Industry |
Manufacture of Instruments for Automatic Measurement or Control |
|
Main Business |
Temperature Controller, Counter, Timer, Sensor, Recorder |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
02/06/2002 |
The Subject owns
the premises of registered HQ address.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Electrical or power regulators(39121009) |
|
Sell |
Proximity sensors(41111926) |
|
Sell |
Temperature regulators(41112205) |
|
Sell |
Tachometers(41112802) |
|
Name |
Han Young-Soo |
|
Address |
40-11, Mullae-dong 2-ga, Yeongdeungpo-gu, Seoul,
Korea |
|
Date of Birth |
09/28/1947 |
|
Title |
Co-President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
800,000,000 |
|||||||||||||||||||||
|
Employees |
311 |
|||||||||||||||||||||
|
Formation |
Co., Ltd by shares |
|||||||||||||||||||||
|
Bank Details |
Korea Development Bank Industrial Bank of Korea Hana Bank-Munrae Dong Branch |
|||||||||||||||||||||
|
Corporate Registered No. |
110111-2442640 |
|||||||||||||||||||||
|
Business Registered No. |
107-86-17830 |
|||||||||||||||||||||
|
Permit & Licenses |
01/1996 CE Mark 02/1996 UL Mark 03/1996 NT Mark 03/1996 UL Mark 04/1996 UL Mark 03/200 CE Mark 05/2000 UL Mark 01/2002 UL Mark 07/2002 EM Mark 10/2006 ISO 9001 Int’l Trade No.: 45136812 |
|||||||||||||||||||||
|
Shareholder Position |
|
|||||||||||||||||||||
|
Company History |
10/1972 Established as HANYOUNG ELECTRONICS
CO.(Sole Proprietorship) 07/2000 Designated as a Venture Business 02/06/2002 Incorporated as the present name 01/2003 Designated as a Venture Business
again 06/18/2003 Increased the authorized shares
to 400,000 shares from 40,000 shares 07/04/2003 Increased capital to 500,000,000
KRW from 50,000,000 KRW 05/04/2004 Increased capital to 800,000,000
KRW from 500,000,000 KRW |
|||||||||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Co-President & CEO |
Mr. |
Han Young-Soo |
Male |
Korean |
02/06/2005 |
|
Co-President & CEO |
Mr. |
Han Sang-Min |
Male |
Korean |
02/06/2005 |
|
Director |
Mr. |
Han Sang-Ho |
Male |
Korean |
02/06/2005 |
|
Director |
Mr. |
Han Sang-Hoon |
Male |
Korean |
02/06/2005 |
|
Auditor |
M/S. |
Cho Hee-Kwon |
Female |
Korean |
02/06/2008 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
53,117,460,848 |
66,137,626,913 |
2,732,236,684 |
|
|
2010 |
45,779,717,964 |
51,373,352,591 |
3,468,590,489 |
|
2009 |
34,887,414,936 |
42,795,234,237 |
3,022,425,924 |
|
2008 |
34,167,090,824 |
35,780,669,332 |
2,072,498,784 |
|
2007 |
34,478,802,610 |
33,189,394,480 |
2,344,964,681 |
|
2006 |
33,369,467,087 |
27,137,965,841 |
2,437,252,606 |
|
2005 |
21,696,540,704 |
22,547,150,543 |
1,916,148,435 |
|
Authorized Capital(KRW) |
2,000,000,000 |
|
Paid-Up Capital(KRW) |
800,000,000 |
|
Total Issued Shares |
160,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Total Assets |
66,137,626,913 |
51,373,352,591 |
42,795,234,237 |
|
Current Assets |
49,254,714,680 |
37,142,616,112 |
30,297,553,991 |
|
-Quick Assets |
38,679,142,401 |
29,056,905,919 |
25,349,855,920 |
|
-Inventories |
10,575,572,279 |
8,085,710,193 |
4,947,698,071 |
|
Fixed Assets |
16,882,912,233 |
14,230,736,479 |
12,497,680,246 |
|
-Investment |
4,221,642,206 |
2,805,750,410 |
1,316,720,630 |
|
-Tangibles |
11,773,628,745 |
10,701,400,442 |
10,603,516,320 |
|
-Intangibles |
662,787,882 |
517,785,627 |
331,643,296 |
|
-Others |
224,853,400 |
205,800,000 |
245,800,000 |
|
Total Liabilities |
44,691,075,926 |
32,659,038,288 |
27,549,510,423 |
|
Current Liabilities |
40,206,275,697 |
29,468,832,634 |
24,980,584,612 |
|
Fixed Liabilities |
4,484,800,229 |
3,190,205,654 |
2,568,925,811 |
|
Capital Stock |
800,000,000 |
800,000,000 |
800,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
20,646,550,987 |
17,914,314,303 |
14,445,723,814 |
|
Capital Adjustment |
|
|
|
|
Total Equity |
21,446,550,987 |
18,714,314,303 |
15,245,723,814 |
|
Liab. & Shareholder’s Equity |
66,137,626,913 |
51,373,352,591 |
42,795,234,237 |
|
Current Liabilities |
40,206,275,697 |
29,468,832,634 |
24,980,584,612 |
|
Trade Payables |
11,308,788,984 |
8,541,180,192 |
6,734,031,150 |
|
Account Payables |
5,017,965,975 |
4,004,828,829 |
2,585,697,510 |
|
Withholdings |
23,125,626 |
42,234,923 |
29,805,794 |
|
Advance Receipts |
1,901,783,628 |
2,026,172,992 |
1,977,661,497 |
|
Short-Term Borrowings |
4,900,000,000 |
- |
700,000,000 |
|
Accrued Income Tax |
119,411,030 |
410,143,788 |
219,398,409 |
|
Accrued Expenses |
9,670,247 |
3,953,623 |
11,376,362 |
|
Current Portion of Long-Term Debts |
887,700,000 |
771,033,172 |
951,450,000 |
|
Short-Term Borrowings to
Shareholders/ Executives/ Employees |
16,037,830,207 |
13,669,285,115 |
11,771,163,890 |
|
Fixed Liabilities |
4,484,800,229 |
3,190,205,654 |
2,568,925,811 |
|
Long-Term Borrowings |
2,911,600,000 |
1,810,300,000 |
1,519,500,000 |
|
Provision for Severance &
Retirement |
1,573,200,229 |
1,379,905,654 |
1,050,344,811 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Sales |
53,117,460,848 |
45,779,717,964 |
34,887,414,936 |
|
Cost of Sold Goods |
41,875,574,783 |
34,077,688,568 |
25,249,202,783 |
|
Gross Profit |
11,241,886,065 |
11,702,029,396 |
9,638,212,153 |
|
Selling & Admin. Expenses |
8,684,857,072 |
8,126,085,128 |
6,024,820,761 |
|
Operating Income |
2,557,028,993 |
3,575,944,268 |
3,613,391,392 |
|
Non-Operating Income |
1,092,233,848 |
919,590,315 |
172,814,870 |
|
Non-Operating Expenses |
538,110,787 |
451,646,346 |
439,224,199 |
|
Income Before Taxes |
3,111,152,054 |
4,043,888,237 |
3,346,982,063 |
|
Income Taxes Expenses |
378,915,370 |
575,297,748 |
324,556,139 |
|
Net Income |
2,732,236,684 |
3,468,590,489 |
3,022,425,924 |
Cash
Flows
|
|||
|
Unit :
Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Cash Flows
from Operating |
-4,583,987,730 |
-1,425,253,102 |
2,262,379,171 |
|
-Net Income |
2,732,236,684 |
3,468,590,489 |
3,022,425,924 |
|
-Exp.
without Cash Outflow |
2,006,283,008 |
1,774,667,205 |
1,273,723,206 |
|
-Revenue
without Cash Inflows |
-857,341,692 |
-584,042,924 |
(48,049,541) |
|
-Changes in
Asset/ & Liability |
-8,465,165,730 |
-6,084,467,872 |
-1,985,720,418 |
|
Cash Flows
from Investing |
-3,377,026,567 |
-1,015,131,028 |
-2,530,952,062 |
|
-Cash Inflow
from Investing |
3,860,134,304 |
4,631,304,546 |
1,559,140,910 |
|
-Cash
Outflows for Investing |
-7,237,160,871 |
-5,646,435,574 |
-4,090,092,972 |
|
Cash Flows
from Financing |
8,486,511,920 |
1,308,504,397 |
1,355,887,146 |
|
-Cash
Inflows from Financing |
9,955,630,618 |
3,629,715,531 |
13,425,851,036 |
|
-Cash
Outflows from Financing |
-1,469,118,698 |
-2,321,211,134 |
-12,069,963,890 |
|
Increase/Decrease
in Cash |
525,497,623 |
-1,131,879,733 |
1,087,314,255 |
|
Cash at the Beginning of Year |
388,043,420 |
1,519,923,153 |
432,608,898 |
|
Cash at the End of Year |
913,541,043 |
388,043,420 |
1,519,923,153 |
|
Main Products & Services |
Temperature Controller, Counter, Timer, Sensor, Recorder |
|
Customers |
HANYOUNG ELECTRONICS CO., LTD.(110111-0630015) HANYOUNG AUTOMATIC CONTROL CO.,
LTD.(124311-0042278) |
|
Competitors |
SERI2B CO. RM. 306, GUMI TECHNO BUSINESS SUPPORT
CENTER ANNEX Ⅱ, 267, GONGDAN 2-DONG, GUMI-SI, GYEONGSANGBUK-DO, KOREA TEL:+82-54-465-1530 FAX:+82-54-465-1532 UPERT, INC. 59, SINBANG-RI, JEONUI-MYEON, YEONGI-GUN,
CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-863-6812 FAX:+82-41-863-6814 GLOBAL TECHNOLOGY CO., LTD. 3RD FL., UCHANG BLDG., 912-1, GUUN-DONG,
GWONSEON-GU, SUWON-SI, GYEONGGI-DO, KOREA TEL:+82-31-292-2560 FAX:+82-31-292-2507 |
(Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
HANYOUNG AUTOMATIC CONTROL CO.,
LTD.(124311-0042278) HANYOUNG ELECTRONICS CO., LTD.(110111-0630015) INNI NUX SALES CO., LTD. |
|
Overseas Office |
SHANGHAI HANYOUNG(CHINA) 168, JINLOU RD. JIADING INDUSTRIAL NORT
ZONE, SHANGHAI, CHINA TEL:+86-21-5954-7728 PT HANYOUNGNUX(INDONESIA) (90.7% held by the subject company) JL. JABABEKA 17G BOLCK U NO. 20F KAWASAN
INDUSTRI JABABEKA, CKRANG, INDONESIA TEL:+62-21-8983-6273 VIETNAM 10 HUYNH KHUONG NINH. P.DAKAO. Q1. TP. HCM
BVIETNAM TEL:+84-8-6262-1010 |
(Activity & Markets)
|
Sales/ Unit : KRW |
2011 |
2010 |
2009 |
|
Export |
17,101,336,502 |
10,194,240,249 |
7,091,994,179 |
|
Domestic |
35,859,822,585 |
35,542,668,158 |
27,764,209,387 |
|
Others |
156,301,761 |
42,809,557 |
31,211,370 |
|
Total |
53,117,460,848 |
45,779,717,964 |
34,887,414,936 |
The Subject deals
with the companies in China, Indonesia, Spain and Turkey.
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.83 |
|
|
1 |
Rs.89.22 |
|
Euro |
1 |
Rs.72.48 |
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.