|
Report Date : |
31.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
EUGENETEK CORPORATION |
|
|
|
|
Registered Office : |
Rm. 506, Uri Venture Town 2-cha 82-29, Mullae-dong 3-ga, Yeongdeungpo-gu, Seoul, Korea 150-700 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
30.03.1999 |
|
|
|
|
Com. Reg. No.: |
122-81-57554 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Wholesale of Medical, Precision and Scientific Instruments
and Equipment |
|
|
|
|
No. of Employees : |
75 |
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 |
EUGENETEK
CORPORATION (Korean Company
Name : “(주)유진텍코퍼레이션”) |
|
Registered Address |
82-29, Mullae-dong 3-ga, Yeongdeungpo-gu,
Seoul, Korea |
|
Building |
Rm. 506, Uri Venture Town 2-cha |
|
Zip Code |
150-700 |
|
Tel |
+82-2-2679-5300 |
|
Fax |
+82-2-2679-3289 |
|
E-mail |
eugenetek@netsgo.com |
|
Website |
www.eugenetek.com |
|
Trading Address |
Rm. 506, Uri Venture Town 2-cha, 82-29,
Mullae-dong 3-ga, Yeongdeungpo-gu, Seoul, Korea |
|
Tel |
+82-2-2679-5300 |
|
Fax |
+82-2-2679-3289 |
|
Other Address-Cheonan Branch |
68-1, Dujeong-dong, Seobuk-gu, Cheonan-si,
Chungcheongnam-do, Korea |
|
Other Address-Gongju Branch |
192-36, Singwan-dong, Gongju-si, Chungcheongnam-do, Korea |
|
Other Address-Wonju Branch |
1511-2, Dangu-dong, Wonju-si, Gangwon-do,
Korea |
|
Other Address-Pyeongtaek Branch |
818-35, Seojeong-dong, Pyeongtaek-si, Gyeonggi-do, Korea |
|
Other Address-Yongin Branch |
301-3, Gimnyangjang-dong, Cheoin-gu, Yongin-si,
Gyeonggi-do, Korea |
|
Other Address- Gyeongsan Branch |
278, Gangbyeondong-ro, Gyeongsan-si,
Gyeongsangbuk-do, Korea |
|
Other Address-Jeju Branch |
288, Seogwang-ro, Jeju-si, Jeju-do, Korea |
|
Type |
Export/Import |
|
Industry |
Wholesale of Medical, Precision and Scientific Instruments and
Equipment |
|
Main Business |
Projectors, Audio Equipment |
|
Sub
Business |
Motion Picture Exhibition |
|
Established (mm/dd/yyyy) |
03/30/1999 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Projectors and supplies(45111600) |
|
Sell |
Loudspeakers(52161512) |
|
Name |
Lee Joon-Ho |
|
Address |
8-13, Hannam-daero 40-gil, Yongsan-gu,
Seoul, Korea |
|
Date of Birth |
03/01/1961 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
350,000,000 |
|||||||||||||||||||||
|
Employees |
75 |
|||||||||||||||||||||
|
Formation |
Co., Ltd by Shares |
|||||||||||||||||||||
|
Bank Details |
Suhyup Bank Kookmin Bank Hana Bank |
|||||||||||||||||||||
|
Corporate Registered No. |
120111-0189276 |
|||||||||||||||||||||
|
Business Registered No. |
122-81-57554 |
|||||||||||||||||||||
|
Permit & Licenses |
Int’l Trade No.: 11503051 |
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|
Shareholder Position |
|
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|
Company History |
03/30/1999
Incorporated as EUGENETEK CORPORATION, “(주)유진텍코포레이션”) 11/11/1999
Increased the authorized shares to 600,000 shares from 40,000 shares 11/26/1999
Increased capital to 350,000,000 KRW from 50,000,000 KRW 04/12/2004
Changed Korean company name to EUGENETEK CORPORATION, “(주)유진텍코퍼레이션”) 04/14/2004
moved to the present HQ address from 94-322, Yeongdeungpo-dong 7-ga, Yeongdeungpo-gu,
Seoul, Korea 12/27/2011 Increased capital to 400,000,00
KRW from 350,000,000 KRW |
|||||||||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lee Joon-Ho |
Male |
Korean |
03/30/1999 |
|
Director |
M/S. |
Eo Kyung-Hee |
Female |
Korean |
03/30/1999 |
|
Director |
Mr. |
Lee Kwang-Ho |
Male |
Korean |
03/30/1999 |
|
Auditor |
Mr. |
Eo Young |
Male |
Korean |
03/30/1999 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
38,735,362,787 |
27,709,796,484 |
1,150,246,588 |
|
|
2010 |
42,557,980,229 |
35,031,888,244 |
2,602,769,169 |
|
2009 |
22,337,135,255 |
21,005,877,384 |
2,274,819,577 |
|
2008 |
17,898,619,945 |
18,137,038,396 |
-740,198,269 |
|
2007 |
25,803,024,943 |
18,882,691,453 |
1,727,177,135 |
|
2006 |
29,421,587,073 |
16,343,254,941 |
1,416,328,088 |
|
2005 |
18,337,849,851 |
16,517,258,109 |
209,942,224 |
|
Authorized Capital(KRW) |
3,000,000,000 |
|
Paid-Up Capital(KRW) |
400,000,000 |
|
Total Issues Shares |
80,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Total Assets |
27,709,796,484 |
35,031,888,244 |
21,005,877,384 |
|
Current Assets |
17,461,597,877 |
22,340,016,032 |
7,900,809,552 |
|
-Quick Assets |
15,895,768,681 |
19,730,886,420 |
7,759,698,370 |
|
-Inventories |
1,565,829,196 |
2,609,129,612 |
141,111,182 |
|
Fixed Assets |
10,248,198,607 |
12,691,872,212 |
13,105,067,832 |
|
-Investment |
3,025,838,100 |
2,337,514,503 |
1,677,260,166 |
|
-Tangibles |
6,643,847,142 |
9,811,131,303 |
10,852,829,861 |
|
-Intangibles |
2,159,046 |
2,916,606 |
3,693,105 |
|
-Others |
576,354,319 |
540,309,800 |
571,284,700 |
|
Total Liabilities |
15,545,392,709 |
23,940,201,557 |
12,516,959,866 |
|
Current Liabilities |
14,037,624,717 |
20,771,501,679 |
11,426,078,584 |
|
Fixed Liabilities |
1,507,767,992 |
3,168,699,878 |
1,090,881,282 |
|
Capital Stock |
400,000,000 |
350,000,000 |
350,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
11,891,933,275 |
10,741,686,687 |
8,138,917,518 |
|
Capital Adjustment |
-127,529,500 |
0 |
0 |
|
Total Equity |
12,164,403,775 |
11,091,686,687 |
8,488,917,518 |
|
Liab. & Shareholder’s Equity |
27,709,796,484 |
35,031,888,244 |
21,005,877,384 |
|
Current Liabilities |
14,037,624,717 |
20,771,501,679 |
11,426,078,584 |
|
Trade Payables |
4,121,174,432 |
6,151,383,940 |
3,426,722,912 |
|
Short-Term Borrowings |
6,539,400,597 |
11,489,572,913 |
5,504,666,301 |
|
Account Payables |
1,515,547,898 |
1,469,261,896 |
1,729,590,693 |
|
Advance Receipts |
482,010,687 |
323,457,573 |
428,147,026 |
|
Withholdings |
70,366,028 |
33,739,147 |
17,317,004 |
|
VAT Withhold |
268,604,279 |
- |
|
|
Accrued Expenses |
6,072,319 |
7,924,490 |
17,587,288 |
|
Accrued Income Tax |
256,670,701 |
296,161,720 |
302,047,360 |
|
VAT Withhold |
777,777,776 |
1,000,000,000 |
- |
|
Fixed Liabilities |
1,507,767,992 |
3,168,699,878 |
1,090,881,282 |
|
Long-Term Borrowings |
777,777,780 |
2,000,000,000 |
- |
|
Leasehold Deposit Received |
630,000,000 |
750,000,000 |
750,000,000 |
|
Provision for Severance & Retirement |
99,990,212 |
418,699,878 |
340,881,282 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Sales |
38,735,362,787 |
42,557,980,229 |
22,337,135,255 |
|
Cost of Sold Goods |
28,141,607,911 |
30,952,516,034 |
13,894,507,548 |
|
Gross Profit |
10,593,754,876 |
11,605,464,195 |
8,442,627,707 |
|
Selling & Admin. Expenses |
7,721,298,730 |
7,873,498,573 |
5,885,084,808 |
|
Operating Income |
2,872,456,146 |
3,731,965,622 |
2,557,542,899 |
|
Non-Operating Income |
1,524,196,260 |
1,162,489,837 |
713,570,760 |
|
Non-Operating Expenses |
2,852,124,407 |
1,809,031,080 |
596,373,632 |
|
Income Before Taxes |
1,544,527,999 |
3,085,424,379 |
2,674,740,027 |
|
Income Taxes Expenses |
394,281,411 |
482,655,210 |
399,920,450 |
|
Net Income |
1,150,246,588 |
2,602,769,169 |
2,274,819,577 |
Cash
Flows
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Cash Flows from Operating |
-519,920,367 |
1,643,078,779 |
3,975,512,654 |
|
-Net Income |
1,150,246,588 |
2,602,769,169 |
2,274,819,577 |
|
-Exp. without Cash Outflow |
2,739,061,675 |
3,087,248,278 |
1,612,733,498 |
|
-Revenue without Cash Inflows |
-834,773,826 |
-783,207,663 |
-131,376,757 |
|
-Changes in Asset/ & Liability |
-3,574,454,804 |
-3,263,731,005 |
219,336,336 |
|
Cash Flows from Investing |
6,392,142,820 |
-10,226,184,075 |
-2,417,271,673 |
|
-Cash Inflow from Investing |
22,982,888,478 |
9,098,819,602 |
6,894,829,300 |
|
-Cash Outflows for Investing |
-16,590,745,658 |
-19,325,003,677 |
-9,312,100,973 |
|
Cash Flows from Financing |
-6,576,086,777 |
8,930,678,652 |
-1,383,521,765 |
|
-Cash Inflows from Financing |
50,000,000 |
28,029,985,577 |
2,949,491,545 |
|
-Cash Outflows from Financing |
-6,626,086,777 |
-19,099,306,925 |
-4,333,013,310 |
|
Increase/Decrease in Cash |
-703,864,324 |
347,573,356 |
174,719,216 |
|
Cash at the Beginning of Year |
864,750,953 |
517,177,597 |
342,458,381 |
|
Cash at the End of Year |
160,886,629 |
864,750,953 |
517,177,597 |
|
Main Products & Services |
Projection System Film handling Equipment & Accessories Sound System Screen |
|
Suppliers |
CHRISTIE INC. IWERKS ENTERTAINMENT CINEMA FILM SYSTEM CINMECCANICA(ITALY) DIGITAL THEATER SYSTEM HARKNESS HALL LIMITED(UK) STEWART FILMSCREEN KRIX LOUDSPAKER(AUSTRALIA) HIP |
|
Competitors |
CRESYN CO., LTD. 8-22, JAMWON-DONG, SEOCHO-GU, SEOUL, KOREA TEL:+82-2-2041-2700 FAX:+82-2-2041-2788 I-SOUND CO., LTD. 2-601, ACE HIGHTECH CITY, 55-20, MULLAEDONG
3-GA, YEONGDEUNGPO-GU, SEOUL, KOREA TEL:+82-2-2663-7100 FAX:+82-2-2663-7116 SAMBON PRECISION & ELECTRONICS CO.,
LTD. 204, SAMJEONG-DONG, OJEONG-GU, BUCHEON-SI,
GYEONGGI-DO, KOREA TEL:+82-32-683-7300 FAX:+82-32-678-5868 |
(Subsidiaries,
Joint-Venture & Affiliates)
|
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 UK, Italy, Australia, Japan, China, Taiwan, Malaysia,
Thailand, Indonesia, Philippines and Singapore.
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.57 |
|
|
1 |
Rs.84.37 |
|
Euro |
1 |
Rs.72.23 |
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.