|
Report Date : |
10.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
BAYER
CROPSCIENCE LTD. |
|
|
|
|
Registered Office : |
16th Fl., Sambu Bldg. 676, Yeoksam 1-dong, Gangnam-gu, Seoul, Korea 135-915 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
20.07.1957 |
|
|
|
|
Com. Reg. No.: |
306-81-01018 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Manufacture of Agricultural Chemical Products |
|
|
|
|
No. of Employees : |
216 |
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 : |
Slow but correct |
|
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 |
BAYER
CROPSCIENCE LTD. (Korean Company
Name : “바이엘크롭사이언스(주)”) |
|
Registered Address |
676, Yeoksam 1-dong, Gangnam-gu, Seoul,
Korea |
|
Building |
16th Fl., Sambu Bldg. |
|
Zip Code |
135-915 |
|
Tel |
+82-2-3450-1300 |
|
Fax |
+82-2-3450-1395 |
|
E-mail |
recruiting@bayercropscience.com |
|
Website |
www.bayercropscience.co.kr |
|
Trading Address |
16th Fl., Sambu Bldg., 676, Yeoksam
1-dong, Gangnam-gu, Seoul, Korea |
|
Tel |
+82-2-3450-1300 |
|
Fax |
+82-2-3450-1395 |
|
Other Address-Factory Ⅰ |
46-3, Daehwa-dong, Daedeok-gu, Daejeon,
Korea |
|
Tel |
+82-42-624-2291 |
|
Fax |
+82-42-624-2293 |
|
Other Address-Warehouse |
599, Yeongi-ri, Nam-myeon, Yeongi-gun, Chungcheongnam-do, Korea |
|
Tel |
+82-41-863-2292 |
|
Fax |
+82-41-863-2295 |
|
Other Address-R&D Center |
532-6, Dongcheon-ri, Jinwi-myeon, Pyeongtaek-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-610-7700 |
|
Fax |
+82-31-611-8802 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Agricultural Chemical Products |
|
Main Business |
Agricultural Chemicals, Fungicide, Insecticide, Herbicide, Vegetable
Seed |
|
Sub
Business |
Growing of Crop Seeds and Nursery Products |
|
Established (mm/dd/yyyy) |
07/20/1957 |
The Subject Company
occupies the premises of registered HQ address by leasing base.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Pesticides or pest repellents(10191500) |
|
Sell |
Insecticides(10191509) |
|
Sell |
Herbicides(10171700) |
|
Name |
Harald Frintz |
|
Address |
Sambu Bldg., 676, Yeoksam 1-dong, Gangnam-gu, Seoul, Korea |
|
Date of Birth |
02/06/1965 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
German |
|
Capital (KRW) |
2,222,225,000 |
||||||||||||
|
Employees |
216 |
||||||||||||
|
Formation |
Co., Ltd by shares Foreign Direct Investment Corporation |
||||||||||||
|
Bank Details |
Citibank, Korea Hana Bank-Jongro4-Ga Branch |
||||||||||||
|
Corporate Registered No. |
160111-0001927 |
||||||||||||
|
Business Registered No. |
306-81-01018 |
||||||||||||
|
Permit & Licenses |
Int’l Trade No.: 913702 |
||||||||||||
|
Shareholder Position |
|
||||||||||||
|
Company History |
07/20/1957 Incorporated as MISUNG CO., LTD. 10/01/2002 Changed company name to the
present name 12/31/2003 Increased capital to 2,222,225,000
KRW from 2,000,000,000 KRW 12/31/2003
Acquired CROPSCIENCE KOREA CO., LTD. 03/19/2005 Moved
to the present HQ address from 735, Yeoksam 1-dong, Gangnam-gu, Seoul, Korea |
||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Harald Frintz |
Male |
German |
06/01/2011 |
|
Director |
Mr. |
Tobias Mashan |
Male |
German |
07/01/2011 |
|
Director |
Mr. |
Niles Hesmann |
Male |
Belgium |
11/01/2011 |
|
Auditor |
Mr. |
Makers Lee Chauwer |
Male |
German |
09/11/2012 |
|
Supervisor of HQ Office |
Mr. |
Sohn Tae-Joo |
Male |
Korean |
01/04/2010 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
121,938,880,768 |
94,258,543,831 |
-112,944,698 |
|
|
2010 |
102,203,957,168 |
80,298,277,068 |
-637,113,906 |
|
2009 |
101,921,857,109 |
65,779,273,923 |
5,417,098,961 |
|
2008 |
89,316,340,965 |
88,908,261,843 |
2,780,362,469 |
|
2007 |
86,549,653,087 |
82,773,044,267 |
7,903,178,994 |
|
2006 |
91,082,331,471 |
103,552,370,117 |
8,879,112,755 |
|
2005 |
89,309,158,955 |
91,852,955,283 |
7,445,082,891 |
|
2004 |
83,161,014,748 |
95,254,707,862 |
3,367,335,310 |
|
Authorized Capital(KRW) |
3,000,000,000 |
|
Paid-Up Capital(KRW) |
2,222,225,000 |
|
Total Issues Shares |
444,445 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Total Assets |
94,258,543,831 |
80,298,277,068 |
65,779,273,923 |
|
Current Assets |
74,385,553,065 |
60,892,061,198 |
47,455,083,649 |
|
-Quick Assets |
29,392,630,670 |
27,163,662,845 |
18,906,908,224 |
|
-Inventories |
44,992,922,395 |
33,728,398,353 |
28,548,175,425 |
|
Fixed Assets |
19,872,990,766 |
19,406,215,870 |
18,324,190,274 |
|
-Investment |
8,888,000 |
8,888,000 |
8,888,000 |
|
-Tangibles |
12,683,450,462 |
12,554,984,484 |
11,277,259,177 |
|
-Intangibles |
1,638,990,925 |
1,766,741,307 |
1,711,748,877 |
|
-Others |
5,541,661,379 |
5,075,602,079 |
5,326,294,220 |
|
Total Liabilities |
72,984,190,345 |
58,910,978,884 |
26,039,312,517 |
|
Current Liabilities |
67,462,880,967 |
53,283,445,429 |
20,837,475,271 |
|
Fixed Liabilities |
5,521,309,378 |
5,627,533,455 |
5,201,837,246 |
|
Capital Stock |
2,222,225,000 |
2,222,225,000 |
2,222,225,000 |
|
Capital Surplus |
3,641,586,217 |
3,641,586,217 |
3,641,586,217 |
|
Profit Surplus |
15,410,542,269 |
15,523,486,967 |
34,160,600,873 |
|
Others |
|
|
-284,450,684 |
|
Total Equity |
21,274,353,486 |
21,387,298,184 |
39,739,961,406 |
|
Liab. & Shareholder’s Equity |
94,258,543,831 |
80,298,277,068 |
65,779,273,923 |
|
Current Liabilities |
67,462,880,967 |
53,283,445,429 |
20,837,475,271 |
|
Trade Payables |
26,640,771,129 |
22,377,573,211 |
11,218,178,772 |
|
Short-Term Borrowings |
32,106,760,954 |
24,217,600,000 |
- |
|
Account Payables |
2,165,391,764 |
1,932,400,520 |
1,508,904,295 |
|
Advance Receipts |
734,235,709 |
345,580,919 |
226,393,810 |
|
Withholdings |
211,907,567 |
263,471,669 |
193,477,080 |
|
Accrued Expenses |
2,715,626,148 |
2,223,745,195 |
4,043,316,442 |
|
Current Portion of Refund Provisions |
1,723,089,207 |
1,574,614,272 |
1,503,335,769 |
|
Unearned Income |
- |
17,241,344 |
80,887,644 |
|
Accrued Income Tax |
563,971,885 |
- |
1,641,810,579 |
|
Derivatives |
601,126,604 |
331,218,299 |
421,170,880 |
|
Fixed Liabilities |
5,521,309,378 |
5,627,533,455 |
5,201,837,246 |
|
Provision for Severance & Retirement |
11,934,220,005 |
11,111,084,091 |
9,510,211,393 |
|
Non-Current Portion of Refund Provisions |
2,303,748,623 |
2,830,614,685 |
3,333,034,440 |
|
Non-Current Portion of Deferred Income Tax Credit |
214,505,943 |
413,524,770 |
- |
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Sales |
121,938,880,768 |
102,203,957,168 |
101,921,857,109 |
|
Cost of Sold Goods |
91,454,910,158 |
76,649,586,860 |
68,530,497,839 |
|
Gross Profit |
30,483,970,610 |
25,554,370,308 |
33,391,359,270 |
|
Selling & Admin. Expenses |
29,536,431,171 |
26,221,707,461 |
27,350,357,569 |
|
Operating Income |
947,539,439 |
-667,337,153 |
6,041,001,701 |
|
Non-Operating Income |
8,936,530,569 |
9,443,486,656 |
10,825,729,080 |
|
Non-Operating expenses |
9,479,311,756 |
9,133,114,764 |
9,659,911,360 |
|
Income Before Taxes |
404,758,252 |
-356,965,261 |
7,206,819,421 |
|
Income Taxes Expenses |
517,702,950 |
280,148,645 |
1,789,720,460 |
|
Net Income |
-112,944,698 |
-637,113,906 |
5,417,098,961 |
Cash
Flows
|
|||
|
Unit :
Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Cash Flows
from Operating |
-6,872,053,722 |
-11,339,881,483 |
30,664,540,363 |
|
-Net Income |
-112,944,698 |
-637,113,906 |
5,417,098,961 |
|
-Exp.
without Cash Outflow |
3,548,384,439 |
2,992,093,635 |
2,530,710,696 |
|
-Revenue
without Cash Inflows |
-226,367,924 |
-115,891,506 |
-112,054,963 |
|
-Changes in
Asset/ & Liability |
-10,081,125,539 |
-13,578,969,706 |
22,828,785,669 |
|
Cash Flows
from Investing |
-1,598,335,265 |
-2,404,295,613 |
-3,014,849,170 |
|
-Cash Inflow
from Investing |
76,500,000 |
293,531,000 |
113,936,000 |
|
-Cash
Outflows for Investing |
-1,674,835,265 |
-2,697,826,613 |
-3,128,785,170 |
|
Cash Flows
from Financing |
8,085,297,957 |
6,279,680,000 |
-27,326,461,530 |
|
-Cash
Inflows from Financing |
32,302,897,957 |
154,694,988,094 |
108,160,906,629 |
|
-Cash
Outflows from Financing |
-24,217,600,000 |
-148,415,308,094 |
-135,487,368,159 |
|
Increase/Decrease
in Cash |
385,091,030 |
7,464,497,096 |
323,229,663 |
|
Cash at the
Beginning of Year |
3,803,724,397 |
11,268,221,493 |
10,944,991,830 |
|
Cash at the
End of Year |
3,418,633,367 |
3,803,724,397 |
11,268,221,493 |
|
Main Products & Services |
Agricultural Chemicals, Fungicide, Insecticide, Herbicide, Vegetable
Seed |
|
Competitors |
YOUNG INH TRADE CORP. 5TH FL., YEONG-IN BLDG., 1708-7, SEOCHO
3-DONG, SEOCHO-GU, SEOUL, KOREA TEL:+82-2-596-2671 FAX:+82-2-595-7790 CHUNG HAE LIMITED RM. 1202, DORYEOM BLDG., 60, DORYEOM-DONG,
JONGNO-GU, SEOUL, KOREA TEL:+82-2-723-2301 FAX:+82-2-723-2336 CTI FUTURE CORPORATION B-407, DAEWOO TRUMPWORLD 1-CHA, 55-1,
YEOEUIDO-DONG, YEONGDEUNGPO-GU, SEOUL, KOREA TEL:+82-2-785-2281 FAX:+82-2-785-2330 |
(Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
BAYER SHEET KOREA
LTD.(184611-0040696) BAYER KOREA LTD.(110111-0610596) BAYER MATERIALSCIENCE CO., LTD.(184611-0040696) BAYER ANTWERPEN N.V.G |
|
Corporate Ownership |
BAYER A.G. BAYER CROPSCIENCE A.G.(GERMANY) |
|
Major Shareholders |
BAYER CROPSCIENCE A.G.(GERMANY) |
|
Cooperative Enterprise |
-Insured Company SAMSUNG FIRE & MARINE INSURANCE CO., LTD.(110111-0005078) -Offer Sheet Agent Agreement BAYER CROPSCIENCE A.G. BAYER CROPSCIENCE S.A. -Accounting Affair service from BAYER KOREA LTD.(110111-0610596) |
(Activity & Markets)
The Subject deals
with the companies in Germany and France.
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.96 |
|
|
1 |
Rs.88.23 |
|
Euro |
1 |
Rs.71.92 |
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.