|
Report Date : |
04.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAMWON TECH CO., LTD. |
|
|
|
|
Registered Office : |
202-703, Bucheon Techno Park 2-danji 192, Yakdae-dong, Wonmi-gu, Bucheon-si, Gyeonggi-do, Korea 420-733 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
26.11.1998 |
|
|
|
|
Com. Reg. No.: |
122-81-56332 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Manufacture of Industrial Process Control Equipment |
|
|
|
|
No. of Employees : |
33 |
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 – 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 |
SAMWON TECH CO.,
LTD. (Korean Company
Name : “(주)삼원테크”) |
|
Registered Address |
192, Yakdae-dong, Wonmi-gu, Bucheon-si,
Gyeonggi-do, Korea |
|
Building |
202-703, Bucheon Techno Park 2-danji |
|
Zip Code |
420-733 |
|
Tel |
+82-32-326-9120 |
|
Fax |
+82-32-326-9119 |
|
E-mail |
webmaster@samwontech.com |
|
Website |
www.samwontech.com |
|
Trading Address |
202-703, Bucheon Techno Park 2-danji, 192,
Yakdae-dong, Wonmi-gu, Bucheon-si, Gyeonggi-do, Korea |
|
Tel |
+82-32-326-9120 |
|
Fax |
+82-32-326-9119 |
|
Type |
Export |
|
Industry |
Manufacture of Industrial Process Control Equipment |
|
Main Business |
Converter, Power Supply, SCR |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
11/26/1998 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Control unit(43201542) |
|
Sell |
Removable storage media(43202000) |
|
Sell |
Control unit(43201542) |
|
Buy |
Power supply transformers(39121002) |
|
Buy |
Inverters(32121705) |
|
Buy |
Resistors(32121600) |
|
Buy |
Liquid crystal display LCD panels or
monitors(43211902) |
|
Buy |
Batteries and cells and
accessories(26111700) |
|
Buy |
Light emitting diodes LEDs(32111503) |
|
Buy |
Switches and controls and relays and
accessories(39121500) |
|
Buy |
Terminal blocks(39121410) |
|
Buy |
Lugs connectors and terminals(39121400) |
|
Buy |
Shells and casings(31261600) |
|
Buy |
Diodes(32111500) |
|
Buy |
Integrated circuits(32101600) |
|
Name |
Lee Young-Ik |
|
Address |
1729-1, Beopheung-ri, Tanhyeon-myeon,
Paju-si, Gyeonggi-do, Korea |
|
Date of Birth |
07/20/1961 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
1,400,000,000 |
||||||||||||||||||||||||||||||
|
Employees |
33 |
||||||||||||||||||||||||||||||
|
Formation |
Co., Ltd by Shares Venture Business |
||||||||||||||||||||||||||||||
|
Bank Details |
Shinhan Bank-Bupyung Corporate Finance
Branch |
||||||||||||||||||||||||||||||
|
Corporate Registered No. |
120111-0180232 |
||||||||||||||||||||||||||||||
|
Business Registered No. |
122-81-56332 |
||||||||||||||||||||||||||||||
|
Permit & Licenses |
Int’l Trade No.: 14101841 |
||||||||||||||||||||||||||||||
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Shareholder Position |
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||||||||||||||||||||||||||||||
|
Company History |
02/1998 Established as Samwon Tech Co.(Sole
Proprietorship) 11/26/1998 Incorporated as the present name 08/2000 Designated as a Venture Business 11/15/2004 Designated as a Venture Business
again 07/08/2005 Increased capital to 1,400,000,000
KRW from 1,250,000,000 KRW 11/15/2006 Designated as a Venture Business
again 11/15/2007 Designated as a Venture Business
again 11/15/2008 Designated as a Venture Business
again |
||||||||||||||||||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lee Young-Ik |
Male |
Korean |
11/26/1998 |
|
Director |
Mr. |
Kim Eun-Hwan |
Male |
Korean |
11/26/1998 |
|
Director |
Mr. |
Lee Seung-Yeol |
Male |
Korean |
03/31/2009 |
|
Outside Director |
Mr. |
Chae Jong-Seok |
Male |
Korean |
03/30/2011 |
|
Outside Director |
Mr. |
You Cheong-Yeon |
Male |
Korean |
08/25/2011 |
|
Auditor |
Mr. |
Moon Yi-Hwan |
Male |
Korean |
03/30/2011 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
11,012,667,825 |
14,110,374,738
|
1,196,849,352 |
|
|
2010 |
10,362,232,115 |
12,190,341,687 |
1,599,762,086 |
|
2009 |
5,826,000,000 |
9,741,000,000 |
556,000,000 |
|
2008 |
7,047,171,534 |
9,479,324,766 |
-81,209,616 |
|
2007 |
8,031,471,274 |
8,793,225,063 |
659,619,650 |
|
2006 |
6,121,930,951 |
9,179,717,710 |
309,353,179 |
|
2005 |
6,419,108,698 |
8,733,794,635 |
591,378,059 |
The latest
financials are not available, and the Subject Company does not have any
obligations to release its financials to the public.
|
Authorized Capital(KRW) |
4,000,000,000 |
|
Paid-Up Capital(KRW) |
1,400,000,000 |
|
Total Issues Shares |
280,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Total Assets |
14,110,374,738 |
12,190,341,687 |
|
|
Current Assets |
10,261,180,627 |
8,260,966,413 |
|
|
-Quick Assets |
6,816,841,480 |
5,593,098,630 |
|
|
-Inventories |
3,444,339,147 |
2,667,867,783 |
|
|
Fixed Assets |
3,849,194,111 |
3,929,375,274 |
|
|
-Investment |
- |
5,396,626 |
|
|
-Tangibles |
3,191,322,036 |
3,043,015,049 |
|
|
-Intangibles |
538,839,431 |
658,750,722 |
|
|
-Others |
119,032,644 |
222,212,877 |
|
|
Total Liabilities |
5,201,926,997 |
4,478,743,298 |
|
|
Current Liabilities |
3,306,857,256 |
2,833,504,849 |
|
|
Fixed Liabilities |
1,895,069,741 |
1,645,238,449 |
|
|
Capital Stock |
1,400,000,000 |
1,400,000,000 |
|
|
Capital Surplus |
2,134,858,344 |
2,134,858,344 |
|
|
Profit Surplus |
5,373,589,397 |
4,176,740,045 |
|
|
Capital Adjustment |
|
|
|
|
Total Equity |
8,908,447,741 |
7,711,598,389 |
|
|
Liab. & Shareholder’s Equity |
14,110,374,738
|
12,190,341,687 |
|
|
Current Liabilities |
3,306,857,256 |
2,833,504,849 |
|
|
Trade Payables |
318,063,074 |
857,467,816 |
|
|
Short-Term Borrowings |
1,880,996,072 |
1,441,723,794 |
|
|
Account Payables |
298,570,305 |
102,641,369 |
|
|
Withholdings |
11,254,030 |
8,171,180 |
|
|
Accrued Expenses |
348,349,078 |
77,985,598 |
|
|
Accrued Income Tax |
79,664,929 |
- |
|
|
Advance Receipts |
8,560,005 |
85,572,628 |
|
|
Current Portion of Long-Term Debts |
361,399,763 |
259,942,464 |
|
|
Fixed Liabilities |
1,895,069,741 |
1,645,238,449 |
|
|
Long-Term Borrowings |
875,884,133 |
1,143,673,416 |
|
|
Provision for Severance & Retirement |
1,044,739,754 |
526,732,315 |
|
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Sales |
11,012,667,825 |
10,362,232,115 |
|
|
Cost of Sold Goods |
6,890,732,810 |
6,763,841,604 |
|
|
Gross Profit |
4,121,935,015 |
3,598,390,511 |
|
|
Selling & Admin. Expenses |
2,484,724,343 |
1,787,410,954 |
|
|
Operating Income |
1,637,210,672 |
1,810,979,557 |
|
|
Non-Operating Income |
147,695,887 |
130,767,426 |
|
|
Non-Operating Expenses |
311,302,145 |
286,218,623 |
|
|
Income Before Taxes |
1,473,604,414 |
1,655,528,360 |
|
|
Income Taxes Expenses |
276,755,062 |
55,766,274 |
|
|
Net Income |
1,196,849,352 |
1,599,762,086 |
|
Cash
Flows
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Cash Flows from Operating |
56,145,842 |
1,069,979,120 |
|
|
-Net Income |
1,196,849,352 |
1,599,762,086 |
|
|
-Exp. without Cash Outflow |
1,274,428,235 |
795,421,758 |
|
|
-Revenue without Cash Inflows |
-1,912,081 |
-2,743,836 |
|
|
-Changes in Asset/ & Liability |
-2,413,219,664 |
-1,322,460,888 |
|
|
Cash Flows from Investing |
-1,058,028,347 |
-1,103,175,247 |
|
|
-Cash Inflow from Investing |
3,259,650,000 |
2,100,601,727 |
|
|
-Cash Outflows for Investing |
-4,317,678,347 |
-3,203,776,974 |
|
|
Cash Flows from Financing |
239,463,166 |
631,460,730 |
|
|
-Cash Inflows from Financing |
498,658,192 |
3,256,747,112 |
|
|
-Cash Outflows from Financing |
-259,195,026 |
-2,625,286,382 |
|
|
Increase/Decrease in Cash |
-762,419,339 |
598,264,603 |
|
|
Cash at the Beginning of Year |
881,167,788 |
282,903,185 |
|
|
Cash at the End of Year |
118,748,449 |
881,167,788 |
|
|
Main Products & Services |
Converter, Power Supply, SCR |
|
Suppliers |
YOKOGAWA ELECTRIC KOREA CO., LTD.(110111-0244014) |
|
Competitors |
ABB LTD. 7TH FL., OKSAN BLDG., 157-33, SAMSEONG
1-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-528-3131 FAX:+82-2-528-3100 WOOSHIN INDUSTRIAL CO., LTD. 472, SONGHAK-RI, MYEONCHEON-MYEON,
DANGJIN-GUN, CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-359-8000 FAX:+82-41-359-8160 SEJUNG CO., LTD. 606, SINNAM-RI, DUNPO-MYEON, ASAN-SI,
CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-539-9899 FAX:+82-41-539-9898 |
(Subsidiaries,
Joint-Venture & Affiliates)
|
Cooperative Enterprise |
-Insured Company DONGBU INSURANCE CO., LTD.(110111-0095285) |
(Activity &
Markets)
The Subject exports
to China, Egypt and USA.
Not Available.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.42 |
|
|
1 |
Rs.88.29 |
|
Euro |
1 |
Rs.71.49 |
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.