|
Report Date : |
23.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
EASY BIO INC |
|
|
|
|
Registered Office : |
837-11, Yeoksam 1-dong, Gangnam-gu, Seoul, Korea 3rd Fl., Union Center
Officetel 135-754 |
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|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
30.09.2012 |
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|
|
|
Date of Incorporation : |
14.03.1988 |
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|
|
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Com. Reg. No.: |
220-81-15028 |
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|
|
|
Legal Form : |
Listed Company |
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|
|
|
Line of Business : |
Manufacture of Livestock Feeds and Prepared Animal Feeds |
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|
|
|
No. of Employees : |
172 |
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 (31.03.2012) |
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 |
EASY BIO INC. |
|
Registered Address |
837-11, Yeoksam 1-dong, Gangnam-gu, Seoul, Korea |
|
Building |
3rd Fl., Union Center Officetel |
|
Zip Code |
135-754 |
|
Tel |
+82-2-501-9988 |
|
Fax |
+82-2-501-9989 |
|
E-mail |
easyhr@easybio.co.kr |
|
Website |
www.easybio.co.kr |
|
Trading Address |
3rd Fl., Union Center Officetel, 837-11, Yeoksam 1-dong, Gangnam-gu,
Seoul, Korea |
|
Tel |
+82-2-501-9988 |
|
Fax |
+82-2-501-9989 |
|
Other Address-Chun-An(2) Factory |
254-6, Yangdae-ri, Ipjang-myeon, Seobuk-gu, Cheonan-si,
Chungcheongnam-do, Korea |
|
Tel |
+82-41-585-2883 |
|
Fax |
+82-41-585-2885 |
|
Other Address-Chun-An(1) Factory |
81-1, Gunseo-ri, Jiksan-eup, Seobuk-gu, Cheonan-si, Chungcheongnam-do,
Korea |
|
Tel |
+82-41-581-9225 |
|
Fax |
+82-41-581-0067 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Livestock Feeds and Prepared Animal Feeds |
|
Main Business |
Livestock Feeds, Prepared Animal Feeds |
|
Sub
Business |
Non-Financial Holding Companies |
|
Established (mm/dd/yyyy) |
03/14/1988 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Livestock feed(10121500) |
|
Name |
Ji Weon-Chul |
|
Address |
|
|
Date of Birth |
07/1954 |
|
Title |
Co-President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
23,865,809,000 |
|||||||||||||||||||||
|
Employees |
172 |
|||||||||||||||||||||
|
Formation |
Listed Company (KOSDAQ : 035810) as of 11/23/1999 A Company of EASY BIO |
|||||||||||||||||||||
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Bank Details |
Citi Bank, Korea-Yangjae Branch |
|||||||||||||||||||||
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Corporate Registered No. |
110111-0565163 |
|||||||||||||||||||||
|
Business Registered No. |
220-81-15028 |
|||||||||||||||||||||
|
Permit & Licenses |
10/2002 ISO 9001 Int’l Trade No.: 430632 |
|||||||||||||||||||||
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Shareholder Position |
|
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|
Company History |
03/14/1988 Incorporated as Easy System Inc. 06/25/1999 Changed company name to Easy Bio
System Inc. 04/10/2012 Changed company name to the
prese3nt name |
|||||||||||||||||||||
|
|
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Management
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
Co-President & CEO |
Mr. |
Ji Weon-Chul |
Korean |
1954.07 |
Seoul National University, Korea |
|
Co-President & CEO |
Mr. |
Kim Ji-Beom |
Korean |
1965.12 |
Seoul National University, Korea |
|
Outside Director |
Mr. |
Han Ki-Cheol |
Korean |
1955.01 |
Korea University, Korea |
|
Auditor |
Mr. |
Oh Tae-Il |
Korean |
1954.03 |
Seoul National University, Korea |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
95,310,626,183 |
303,751,498,341 |
11,713,256,434 |
|
|
2011 |
95,120,557,340 |
300,561,147,972 |
4,775,813,900 |
|
2010 |
82,189,290,871 |
255,101,259,551 |
9,956,776,211 |
|
Authorized Capital(KRW) |
50,000,000,000 |
|
Paid-Up Capital(KRW) |
23,865,809,000 |
|
Total Issued Shares |
47,731,618 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
01/01/2012~09/30/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Total Assets |
303,751,498,341 |
300,561,147,972 |
255,101,259,551 |
|
Current Assets |
70,247,454,340 |
83,139,209,467 |
70,339,236,967 |
|
Cash & Cash Equivalents |
5,205,571,708 |
20,117,216,082 |
17,487,326,093 |
|
Trade Receivables & Other
Receivables |
36,384,347,173 |
24,491,415,520 |
16,099,908,483 |
|
Current Financial Instruments |
7,786,730,000 |
21,489,618,000 |
26,159,100,000 |
|
Inventories |
20,470,495,281 |
12,169,554,223 |
10,245,306,655 |
|
Other Current Assets |
400,310,178 |
4,871,405,642 |
347,595,736 |
|
Non-Current Assets |
233,504,044,001 |
217,421,938,505 |
184,762,022,584 |
|
Non-Current Financial Instruments |
15,969,693,436 |
16,451,271,044 |
1,364,378,646 |
|
Marketable Financial Instruments |
1,827,523,500 |
2,627,523,500 |
2,375,523,500 |
|
Investment_Subsidiaries |
139,014,628,586 |
125,705,491,235 |
147,002,467,707 |
|
Investment_Related Companies |
47,765,185,315 |
44,356,049,235 |
6,807,504,958 |
|
Tangibles |
28,486,346,956 |
27,798,254,094 |
26,797,714,231 |
|
Intangibles |
440,666,208 |
483,349,397 |
414,433,542 |
|
Total Liabilities |
142,614,656,374 |
150,623,527,190 |
111,166,919,225 |
|
Current Liabilities |
116,282,757,234 |
120,069,863,236 |
82,318,348,196 |
|
Trade Payables & Other
Payables |
18,657,574,811 |
11,477,169,103 |
13,759,495,567 |
|
Short-Term Borrowings |
85,882,285,238 |
82,452,958,929 |
55,963,337,210 |
|
Current Portion of Long-Term
Debts |
4,000,000,000 |
2,000,000,000 |
2,000,000,000 |
|
Current Portion of Debentures |
|
9,832,931,963 |
8,000,000,000 |
|
Other Current Financial Debts |
602,855,472 |
285,382,769 |
102,231,654 |
|
Deferred Income Tax Credit |
1,588,769,621 |
5,989,355,409 |
1,699,268,212 |
|
Other Current Liabilities |
5,551,272,092 |
8,032,065,063 |
794,015,553 |
|
Non-Current Liabilities |
26,331,899,140 |
30,553,663,954 |
28,848,571,029 |
|
Long-Term Trade Payables &
Other Payables |
6,122,834,455 |
5,770,575,094 |
6,738,376,004 |
|
Long-Term Borrowings |
11,958,468,352 |
17,453,668,352 |
8,000,000,000 |
|
Debentures |
|
|
5,215,969,660 |
|
Other Non-Current Financial Debts |
1,159,770,411 |
900,731,507 |
905,436,986 |
|
Provision for Severance &
Retirement |
692,449,554 |
470,687,473 |
475,887,552 |
|
Deferred Income Tax Credit |
6,366,206,245 |
5,949,005,013 |
7,512,900,827 |
|
Other Non-Current Liabilities |
32,170,123 |
8,996,515 |
|
|
Capital Stock |
23,865,809,000 |
23,405,330,500 |
22,417,407,500 |
|
Capital Surplus |
63,220,937,956 |
61,799,512,833 |
59,152,860,500 |
|
Others |
|
|
-25,938,010 |
|
Profit Surplus |
74,050,095,011 |
64,732,777,449 |
62,390,010,336 |
|
Total Equity |
161,136,841,967 |
149,937,620,782 |
143,934,340,326 |
|
Liab. & Shareholder’s Equity |
303,751,498,341 |
300,561,147,972 |
255,101,259,551 |
|
Income Statement |
|||
|
Unit : Korean Won |
01/01/2012~09/30/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Sales |
95,310,626,183 |
95,120,557,340 |
82,189,290,871 |
|
Cost of Sold Goods |
66,948,889,093 |
67,333,134,191 |
54,587,562,638 |
|
Gross Profit |
28,361,737,090 |
27,787,423,149 |
27,601,728,233 |
|
Selling & Admin. Expenses |
12,465,696,282 |
14,217,864,563 |
13,203,293,238 |
|
Other Operating Income |
489,244,173 |
992,730,624 |
1,057,529,916 |
|
Other Operating Expenses |
567,585,788 |
1,305,734,160 |
735,084,039 |
|
Operating Income |
15,817,699,193 |
13,256,555,050 |
14,720,880,872 |
|
Finance Income |
4,128,530,831 |
2,362,462,820 |
3,746,953,074 |
|
Finance Expenses |
4,873,348,596 |
6,898,975,946 |
5,332,256,882 |
|
Profits from investment on
Related Companies |
397,800,000 |
1,779,550,805 |
-335,685,269 |
|
Income Before Taxes |
15,470,681,428 |
10,499,592,729 |
12,799,891,795 |
|
Income Taxes Expenses |
3,757,424,994 |
5,723,778,829 |
2,843,115,584 |
|
Net Income |
11,713,256,434 |
4,775,813,900 |
9,956,776,211 |
|
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 |
-1,900,062,159 |
3,341,082,053 |
25,821,443,173 |
|
Net Income |
11,713,256,434 |
4,775,813,901 |
9,956,776,211 |
|
Changes in Asset/ & Liability |
-2,210,641,589 |
3,977,356,109 |
18,877,350,117 |
|
Interests Received |
621,224,871 |
1,086,270,019 |
1,858,921,625 |
|
Interests Paid |
-4,352,596,619 |
-4,704,542,041 |
-3,784,370,574 |
|
Dividends Received |
43,273,589 |
476,178 |
1,255,432,783 |
|
Income Taxes |
-7,714,578,845 |
-1,794,292,113 |
-2,342,666,989 |
|
Cash Flows from Investing |
-638,915,739 |
-32,682,490,164 |
-42,807,578,666 |
|
Cash Flows from Financing |
-12,378,817,451 |
31,971,298,100 |
23,988,888,270 |
|
Increase/Decrease in Cash |
-14,911,644,374 |
2,629,889,989 |
7,001,866,777 |
|
Cash at the Beginning of Year |
20,117,216,082 |
17,487,326,093 |
10,485,459,316 |
|
Cash at the End of Year |
5,205,571,708 |
20,117,216,082 |
17,487,326,093 |
|
Main Products & Services |
Livestock Feeds, Prepared Animal Feeds |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
FARMSTORY CO.,LTD.(154311-0001715) |
|
Customers |
|
|
Competitors |
CKD BIO CORPORATION 368, CHUNGJEONGNO 3-GA, SEODAEMUN-GU,
SEOUL, KOREA TEL:+82-2-2194-0555 FAX:+82-2-2194-0556 YUHAN CHEMICAL INC. 5BA-402, SIHWA INDUSTRIAL COMPLEX, 678-1,
SEONGGOK-DONG, DANWON-GU, ANSAN-SI, GYEONGGI-DO, KOREA TEL:+82-31-488-5800 FAX:+82-31-499-4115 KUNWHA PHARMACEUTICAL CO., LTD. 94, GARAKBON-DONG, SONGPA-GU, SEOUL, KOREA TEL:+82-2-2047-7700 FAX:+82-2-430-1135 |
|
Affiliates |
OPTIPHARM.CO., LTD.(130111-0062876) EASYBIO PHILIPPINES, INC. FARMSTORY CO.,LTD.(154311-0001715) WOORI SON HOLDINGS CO.,
LTD.(211211-0005321) SEOUL FEED CO., LTD.(124311-0000987) EASY FARMS CO., LTD.(161511-0137567) SANSUNG FARM CO., LTD.(134611-0001995) JINAN AGRICULTURAL
CORPORATION(201111-0023814) GANGWON LPC CO., LTD.(110111-3442293) WOOPO WORLD AGICULTUTAL
CORPORATION(195171-0002712) FARMS WORLD GGP CO., LTD.(205811-0006002) NONGBUNE CO., LTD.(165071-0003031) JIRISAN HYPO GP FARM CO.,
LTD.(154511-0032972) UISUNG BIOPARK CO., LTD.(171511-0007528) E&INVESTMENT, INC(110111-3796286) FARMS WORLD AGRICULTURAL
CORPORATION(164311-0009907) NATURAL ILGA CO., LTD.(284911-0089845) PATHWAY INTERMEDIATES INTERNATIONAL
INC.(161511-0129605) SAEDEULMAN CO., LTD.(161411-0022166) MANIKER CO., LTD.(134511-0004149) DM FOOD CO., LTD.(134511-0087989) MANIKER F&G CO., LTD.(134511-0080529) MANIKER MUSEUM OF CHICKEN. CO.
LTD.(284611-0013840) MANIKER HANDDEUL CO., LTD.(134511-0177871) MOKWUCHON & MANIKER CO.,
LTD.(151111-0023542) GUNHYUNG MEAT CO., LTD.(134511-0147957) MANIKER NONGSAN CO., LTD.(284311-0014018) TAP CO., LTD.(110111-3156745) SUNGHWA FOOD CO., LTD.(KOREA) ECO HOTZ(RUSSIA) ESYS BIOFERM, INC. ISABELLA PHILIPPINES |
|
Overseas Office |
|
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
|
|
Subsidiary |
|
|
Corporate Ownership |
|
|
Major Shareholders |
|
|
Cooperative Enterprise |
|
|
Sales/ Unit :Mil KRW |
2011 |
2010 |
2009 |
|
Export |
|
|
|
|
Domestic |
|
|
|
|
Total |
|
|
|
The Subject deals with the companies in USA,
Europe, Indonesia, Japan, China, Canada and Thailand..
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.51 |
|
|
1 |
Rs.84.85 |
|
Euro |
1 |
Rs.71.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.