MIRA
INFORM REPORT
|
Report Date : |
18.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
DONGNAM CHEMICAL CO., LTD. |
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Registered Office : |
385-1, Cheongcheon 1-Dong, Bupyeong-Gu, Incheon, 403031 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
01.10.1965 |
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Legal Form : |
Public Independent Company |
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Line of Business : |
manufacturer
of surfactants including non-ionic surfactants, cationic surfactants, anionic
surfactants and amphoteric surfactants, as well as fine chemical products |
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No. of Employees : |
67 |
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 |
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Payment Behaviour : |
No Complaints |
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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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 is
currently the world's 12th largest economy. 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. Korea's export focused economy was hit hard by the 2008 global economic
downturn, but quickly rebounded in subsequent years, reaching 6.3% growth in
2010. The US-South Korea Free Trade Agreement was ratified by both governments
in 2011 and went into effect in March 2012. Throughout 2012 the economy
experienced sluggish growth because of market slowdowns in the United States,
China, and the Eurozone. The incoming administration in 2013, following the
December 2012 presidential election, is likely to face the challenges of
balancing heavy reliance on exports with developing domestic-oriented sectors,
such as services. 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 & address
Dongnam Chemical Co., Ltd.
385-1, Cheongcheon 1-Dong, Bupyeong-Gu
Incheon, 403031
Korea, Republic of
Tel: 82-32-4503700
Fax: 82-32-4503737
Web: www.dongnamchem.com
synthesis
Employees: 67
Company Type: Public Independent
Traded: Korea
Stock Exchange: 023450
Incorporation Date:
01-Oct-1965
Auditor: Samil Accounting Corp.
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2012
Reporting Currency: South
Korean Won
Annual Sales: 55.0
1
Net Income: 3.4
Total Assets:
51.3 2
Market Value: 42.2 (05-Jul-2013)
Business Description
DONGNAM CHEM. Co.,Ltd. is a Korea-based company mainly engaged in the manufacture of surfactants. The Company mainly produces surfactants, including non-ionic surfactants, cationic surfactants, anionic surfactants and amphoteric surfactants, as well as fine chemical products. The Company’s products are used for textiles, paper products, metal finishing, electronics and agrochemical products. The Company distributes its products within domestic market and to overseas markets. During the year ended December 31, 2011, the Company obtained 87.76% and 12.24% of total revenue from surfactants and fine chemicals. For the three months ended 31 March 2013, Dongnam Chemical Co., Ltd. revenues increased 1% to W14.28B. Net income increased from W102.4M to W533.4M. Revenues reflect South Korea segment increase from W195.2M to W12.42B, Canada segment increase from W0K to W233.9M. Net income benefited from Interest Expense decrease from W121.6M (expense) to W0K, Gain on Foreign Currency Transaction increase from W5.1M to W29.8M (income).
Industry
Industry Personal and Household Products
ANZSIC 2006: 1851 - Cleaning
Compound Manufacturing
NACE 2002: 2451 - Manufacture
of soap and detergents, cleaning and polishing preparations
NAICS 2002: 325613 - Surface
Active Agent Manufacturing
UK SIC 2003: 2451 - Manufacture
of soap and detergents, cleaning and polishing preparations
UK SIC 2007: 2041 - Manufacture
of soap and detergents, cleaning and polishing preparations
US SIC 1987: 2843 - Surface
Active Agents, Finishing Agents, Sulfonated Oils, and Assistants
Key Executives
|
Name |
Title |
|
Jang Hun Lee |
Co-Chief Executive Officer, Director |
|
Jong Hak Cha |
President, Director |
|
Yong Yik Lee |
Internal Auditor |
|
Hyeon Gwan Ahn |
Assistant Managing Director |
|
Du Yeong Kim |
Director |
Significant Developments
|
* number of significant developments within the last 12 months
Financial Summary
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Stock Snapshot
|
1 - Profit & Loss Item Exchange Rate: USD 1 = KRW 1126.849
2 - Balance Sheet Item Exchange Rate: USD 1 = KRW 1066.4
Corporate Overview
Location
385-1, Cheongcheon 1-Dong, Bupyeong-Gu
Incheon, 403031
Korea, Republic of
Tel: 82-32-4503700
Fax: 82-32-4503737
Web: www.dongnamchem.com
Quote Symbol - Exchange
023450 - Korea
Stock Exchange
Sales KRW(mil): 61,964.2
Assets KRW(mil): 54,686.4
Employees: 67
Fiscal Year End: 31-Dec-2012
Industry: Personal
and Household Products
Incorporation Date: 01-Oct-1965
Company Type: Public
Independent
Quoted Status: Quoted
Co-Chief Executive
Officer, Director:
Jong Sang Yang
Industry Codes
ANZSIC 2006 Codes:
1851 - Cleaning Compound Manufacturing
1899 - Other Basic Chemical Product Manufacturing Not Elsewhere
Classified
1812 - Basic Organic Chemical Manufacturing
NACE 2002 Codes:
2451 - Manufacture of soap and detergents, cleaning and polishing
preparations
2414 - Manufacture of other organic basic chemicals
2466 - Manufacture of other chemical products not elsewhere classified
NAICS 2002 Codes:
325613 - Surface Active Agent Manufacturing
325998 - All Other Miscellaneous Chemical Product and Preparation
Manufacturing
325199 - All Other Basic Organic Chemical Manufacturing
US SIC 1987:
2843 - Surface Active Agents, Finishing Agents, Sulfonated Oils,
and Assistants
2899 - Chemicals and Chemical Preparations, Not Elsewhere
Classified
2869 - Industrial Organic Chemicals, Not Elsewhere Classified
UK SIC 2003:
2451 - Manufacture of soap and detergents, cleaning and polishing
preparations
2414 - Manufacture of other organic basic chemicals
2466 - Manufacture of other chemical products not elsewhere
classified
UK SIC 2007:
2041 - Manufacture of soap and detergents, cleaning and polishing
preparations
2059 - Manufacture of other chemical products n.e.c.
2014 - Manufacture of other organic basic chemicals
Business
Description
DONGNAM CHEM. Co.,Ltd. is a Korea-based company mainly engaged in the manufacture of surfactants. The Company mainly produces surfactants, including non-ionic surfactants, cationic surfactants, anionic surfactants and amphoteric surfactants, as well as fine chemical products. The Company’s products are used for textiles, paper products, metal finishing, electronics and agrochemical products. The Company distributes its products within domestic market and to overseas markets. During the year ended December 31, 2011, the Company obtained 87.76% and 12.24% of total revenue from surfactants and fine chemicals. For the three months ended 31 March 2013, Dongnam Chemical Co., Ltd. revenues increased 1% to W14.28B. Net income increased from W102.4M to W533.4M. Revenues reflect South Korea segment increase from W195.2M to W12.42B, Canada segment increase from W0K to W233.9M. Net income benefited from Interest Expense decrease from W121.6M (expense) to W0K, Gain on Foreign Currency Transaction increase from W5.1M to W29.8M (income).
More Business
Descriptions
Production of surfactants and textile dyeing auxiliaries
Dongnam Chemical Co.,
Ltd. (Dongnam Chemical) is one of the leading companies in the
surfactant-related market in Korea. It manufactures and markets agricultural
emulsifier and offers a diverse range of products which include cationic
surfactants, amphoteric surfactants, anionic surfactants, ester products,
narrow range ethoxylates, and nonionic surfactants. Dongnam Chemical’s range
of products find applications in range of industries such as construction,
rubber, household and personal care, paper, pigments, leather, coating markets,
textiles, polymers, and lubricants. In addition, the company’s products are
also used in diverse range of products, including cleaners, fabric dyeing,
shampoos and polishes. Furthermore, the company offers a range of fine chemical
products. Dongnam Chemical is headquartered in Incheon, South Korea.The company
reported revenues of (Won) KRW 59,784.52 million during the fiscal year ended
December 2011, an increase of 19.76% over 2010. The operating profit of the
company was KRW 1,593.87 million during the fiscal year 2011, a decrease of
48.80% from 2010. The net profit of the company was KRW 1,812.40 million during
the fiscal year 2011, a decrease of 45.18% from 2010.
All Other Chemical Product and Preparation Manufacturing
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Competitors Report
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Company
Name |
Location |
Employees |
Ownership |
|
KSCB Co Ltd |
Yangsan, Korea, Republic of |
80 |
Public |
|
NOF CORPORATION |
Shibuya-Ku, Japan |
3,820 |
Public |
|
Sumitomo Chemical Co Ltd |
Chuo-Ku, Japan |
30,396 |
Public |
|
Syngenta AG |
Basel, Switzerland |
27,000 |
Public |
Executive report
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Board of
Directors |
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Assistant Managing Director |
Director/Board Member |
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President, Director |
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Non-Executive Independent Director |
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Director |
Director/Board Member |
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Co-Chief Executive Officer, Director |
Director/Board Member |
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Managing Director |
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Non-Executive Independent Director |
Director/Board Member |
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Non-Executive Independent Director |
Director/Board Member |
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Co-Chief Executive Officer, Director |
Director/Board Member |
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Assistant Managing Director |
Director/Board Member |
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Non-Executive Independent Director |
Director/Board Member |
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Executives |
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Co-Chief Executive Officer, Director |
Chief Executive Officer |
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Co-Chief Executive Officer, Director |
Chief Executive Officer |
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President, Director |
President |
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Assistant Managing Director |
Managing Director |
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Managing Director |
Managing Director |
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Assistant Managing Director |
Managing Director |
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Internal Auditor |
Accounting Executive |
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Internal Auditor |
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Significant Developments
Dongnam Chemical Co., Ltd. Declares Annual Cash Dividend for FY 2012 Mar 22, 2013
Dongnam Chemical Co., Ltd. announced that it has declared an annual cash dividend of KRW 200 per share of common stock to shareholders of record on December 31, 2012 for the fiscal year 2012. The dividend rate of market price is 0.58% and the total amount of the cash dividend is KRW 204,711,600. The dividend payment date is March 28, 2013.
Dongnam Chemical Co., Ltd. Announces Changes in Shareholding Structure Dec 17, 2012
Dongnam Chemical Co., Ltd. announced that Lee Ju Hui and six related parties, have sold 64,580 shares of the Company, equivalent to a 5.05% stake. Following the transaction, Lee Ju Hui and the six related parties' combined stake in the Company has decreased to 17.79% from 22.84%.
Dongnam Chemical Co., Ltd. Announces Share Repurchase Dec 05, 2012
Dongnam Chemical Co., Ltd. announced that its Board of Directors has authorized the Company to repurchase 30,000 shares of its common stock, worth KRW 1,180,500,000, to stabilize its share price. The authorization allows the repurchase of shares from December 6, 2012 to March 5, 2013.
Dongnam Chemical Co., Ltd. Announces Changes in Shareholding Structure Sep 10, 2012
Dongnam Chemical Co., Ltd. announced that Taetwang Fine Chemical Co.,Ltd. and six related parties, have acquired 77,892 shares of the Company, equivalent to a 6.09% stake. Following the transaction, Taetwang Fine Chemical Co.,Ltd. and the six related parties' combined stake in the Company has increased to 35.65% from 29.56%.
Dongnam Chem Co Ltd Announces Appointment of New Co-CEOs Aug 16, 2012
Dongnam Chem Co Ltd announced that it has appointed Lee Jang Hun and Yang
Jong Sang as its new Co-Chief Executive Officers (Co-CEOs), replacing Lee Ji
Hui, effective August 16, 2012.
Annual income statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1126.848795 |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
|
Auditor |
Samil Accounting
Corp. |
Samil Accounting
Corp. |
PricewaterhouseCoopers
LLP |
Hanwool
Accounting |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
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Net Sales |
55.0 |
54.0 |
43.2 |
34.8 |
40.4 |
|
Revenue |
55.0 |
54.0 |
43.2 |
34.8 |
40.4 |
|
Total Revenue |
55.0 |
54.0 |
43.2 |
34.8 |
40.4 |
|
|
|
|
|
|
|
|
Cost of Revenue |
48.8 |
48.7 |
37.3 |
28.3 |
34.7 |
|
Cost of Revenue, Total |
48.8 |
48.7 |
37.3 |
28.3 |
34.7 |
|
Gross Profit |
6.2 |
5.2 |
5.8 |
6.6 |
5.7 |
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|
|
|
|
|
|
Selling/General/Administrative Expense |
2.1 |
1.5 |
1.4 |
1.6 |
1.7 |
|
Labor & Related Expense |
3.2 |
2.2 |
1.8 |
1.7 |
2.1 |
|
Advertising Expense |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Selling/General/Administrative Expenses |
5.3 |
3.7 |
3.2 |
3.3 |
3.8 |
|
Research & Development |
0.0 |
0.0 |
- |
- |
- |
|
Depreciation |
0.2 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Amortization of Intangibles |
0.0 |
0.0 |
0.1 |
0.2 |
0.2 |
|
Depreciation/Amortization |
0.2 |
0.2 |
0.2 |
0.2 |
0.3 |
|
Investment Income -
Operating |
- |
- |
0.0 |
- |
- |
|
Interest/Investment Income - Operating |
- |
- |
0.0 |
- |
- |
|
Interest Expense (Income) - Net Operating Total |
- |
- |
0.0 |
- |
- |
|
Impairment-Assets Held for Use |
- |
- |
0.0 |
- |
- |
|
Loss (Gain) on Sale of Assets - Operating |
- |
- |
-0.2 |
- |
- |
|
Unusual Expense (Income) |
- |
- |
-0.2 |
- |
- |
|
Other Operating Expense |
- |
- |
0.0 |
- |
- |
|
Other, Net |
- |
- |
0.0 |
- |
- |
|
Other Operating Expenses, Total |
- |
- |
0.0 |
- |
- |
|
Total Operating Expense |
54.3 |
52.6 |
40.5 |
31.8 |
38.8 |
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Operating Income |
0.7 |
1.3 |
2.7 |
3.0 |
1.6 |
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|
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Interest Expense -
Non-Operating |
-0.2 |
-0.3 |
0.0 |
0.0 |
-0.1 |
|
Interest Expense, Net Non-Operating |
-0.2 |
-0.3 |
0.0 |
0.0 |
-0.1 |
|
Interest Income -
Non-Operating |
0.1 |
0.1 |
0.2 |
0.3 |
0.4 |
|
Investment Income -
Non-Operating |
0.1 |
0.6 |
0.5 |
0.4 |
0.3 |
|
Interest/Investment Income - Non-Operating |
0.2 |
0.7 |
0.8 |
0.7 |
0.7 |
|
Interest Income (Expense) - Net Non-Operating Total |
0.0 |
0.5 |
0.8 |
0.7 |
0.6 |
|
Gain (Loss) on Sale of Assets |
3.8 |
0.0 |
- |
0.0 |
0.0 |
|
Other Non-Operating Income (Expense) |
0.1 |
0.0 |
- |
0.0 |
0.0 |
|
Other, Net |
0.1 |
0.0 |
- |
0.0 |
0.0 |
|
Income Before Tax |
4.5 |
1.9 |
3.4 |
3.7 |
2.2 |
|
|
|
|
|
|
|
|
Total Income Tax |
1.2 |
0.2 |
0.6 |
0.7 |
0.3 |
|
Income After Tax |
3.4 |
1.6 |
2.9 |
3.0 |
1.9 |
|
|
|
|
|
|
|
|
Net Income Before Extraord Items |
3.4 |
1.6 |
2.9 |
3.0 |
1.9 |
|
Net Income |
3.4 |
1.6 |
2.9 |
3.0 |
1.9 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
3.4 |
1.6 |
2.9 |
3.0 |
1.9 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
3.4 |
1.6 |
2.9 |
3.0 |
1.9 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
1.0 |
1.0 |
1.0 |
0.8 |
0.8 |
|
Basic EPS Excl Extraord Items |
3.32 |
1.61 |
2.81 |
3.60 |
2.30 |
|
Basic/Primary EPS Incl Extraord Items |
3.32 |
1.61 |
2.81 |
3.60 |
2.30 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
3.4 |
1.6 |
2.9 |
3.0 |
1.9 |
|
Diluted Weighted Average Shares |
1.0 |
1.0 |
1.0 |
0.8 |
0.8 |
|
Diluted EPS Excl Extraord Items |
3.32 |
1.61 |
2.81 |
3.60 |
2.30 |
|
Diluted EPS Incl Extraord Items |
3.32 |
1.61 |
2.81 |
3.60 |
2.30 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.18 |
0.22 |
0.29 |
0.27 |
|
Gross Dividends - Common Stock |
0.0 |
0.2 |
0.2 |
0.3 |
0.2 |
|
Interest Expense, Supplemental |
0.2 |
0.3 |
0.0 |
0.0 |
0.1 |
|
Depreciation, Supplemental |
1.0 |
0.6 |
0.3 |
0.4 |
0.5 |
|
Total Special Items |
-3.8 |
0.0 |
-0.2 |
0.0 |
0.0 |
|
Normalized Income Before Tax |
0.8 |
1.9 |
3.3 |
3.7 |
2.2 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
-1.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
0.2 |
0.2 |
0.6 |
0.7 |
0.3 |
|
Normalized Income After Tax |
0.6 |
1.6 |
2.7 |
3.0 |
1.9 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
0.6 |
1.6 |
2.7 |
3.0 |
1.9 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.57 |
1.61 |
2.67 |
3.59 |
2.30 |
|
Diluted Normalized EPS |
0.57 |
1.61 |
2.67 |
3.59 |
2.30 |
|
Amort of Intangibles, Supplemental |
0.0 |
0.0 |
0.1 |
0.2 |
0.2 |
|
Rental Expenses |
0.0 |
0.0 |
0.0 |
- |
- |
|
Advertising Expense, Supplemental |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Research & Development Exp, Supplemental |
0.0 |
0.0 |
- |
0.1 |
- |
|
Normalized EBIT |
0.7 |
1.3 |
2.5 |
3.0 |
1.6 |
|
Normalized EBITDA |
1.6 |
2.0 |
2.9 |
3.6 |
2.3 |
|
Current Tax - Domestic |
1.5 |
0.0 |
- |
- |
- |
|
Current Tax - Total |
1.5 |
0.0 |
- |
- |
- |
|
Deferred Tax - Domestic |
-0.4 |
0.2 |
- |
- |
- |
|
Deferred Tax - Total |
-0.4 |
0.2 |
- |
- |
- |
|
Income Tax - Total |
1.2 |
0.2 |
- |
- |
- |
|
Service Cost - Domestic |
0.3 |
0.2 |
- |
- |
- |
|
Expected Return on Assets - Domestic |
0.0 |
0.0 |
- |
- |
- |
|
Domestic Pension Plan Expense |
0.3 |
0.2 |
- |
- |
- |
|
Total Pension Expense |
0.3 |
0.2 |
- |
- |
- |
|
Total Plan Service Cost |
0.3 |
0.2 |
- |
- |
- |
|
Total Plan Expected Return |
0.0 |
0.0 |
- |
- |
- |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1066.400024 |
1152 |
1134.9 |
1164.475 |
1259.55 |
|
Auditor |
Samil Accounting
Corp. |
Samil Accounting
Corp. |
PricewaterhouseCoopers
LLP |
Hanwool
Accounting |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash |
3.5 |
- |
- |
- |
- |
|
Cash & Equivalents |
- |
1.1 |
0.8 |
2.2 |
0.5 |
|
Short Term Investments |
0.3 |
1.8 |
3.4 |
5.7 |
5.7 |
|
Cash and Short Term Investments |
3.8 |
2.9 |
4.3 |
7.8 |
6.2 |
|
Accounts Receivable -
Trade, Gross |
13.0 |
13.6 |
11.9 |
8.6 |
7.3 |
|
Provision for Doubtful
Accounts |
-0.1 |
-0.1 |
0.0 |
-0.1 |
-0.1 |
|
Trade Accounts Receivable - Net |
12.9 |
13.5 |
11.9 |
8.5 |
7.2 |
|
Other Receivables |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Total Receivables, Net |
13.0 |
13.6 |
12.0 |
8.6 |
7.3 |
|
Inventories - Finished Goods |
3.0 |
3.6 |
1.9 |
1.8 |
2.3 |
|
Inventories - Work In Progress |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Inventories - Raw Materials |
2.2 |
2.4 |
1.7 |
1.6 |
1.8 |
|
Inventories - Other |
0.5 |
0.3 |
0.2 |
0.1 |
0.2 |
|
Total Inventory |
5.7 |
6.4 |
3.8 |
3.5 |
4.2 |
|
Prepaid Expenses |
0.0 |
0.2 |
0.0 |
0.0 |
0.0 |
|
Other Current Assets |
0.0 |
- |
- |
- |
- |
|
Other Current Assets, Total |
0.0 |
- |
- |
- |
- |
|
Total Current Assets |
22.5 |
23.1 |
20.1 |
20.0 |
17.7 |
|
|
|
|
|
|
|
|
Buildings |
12.3 |
11.3 |
3.1 |
2.8 |
1.4 |
|
Land/Improvements |
11.3 |
10.5 |
9.1 |
8.8 |
8.1 |
|
Machinery/Equipment |
18.0 |
16.7 |
11.9 |
11.3 |
1.0 |
|
Other
Property/Plant/Equipment |
0.9 |
0.8 |
0.7 |
0.7 |
0.0 |
|
Property/Plant/Equipment - Gross |
42.5 |
39.4 |
24.8 |
23.6 |
10.6 |
|
Accumulated Depreciation |
-15.1 |
-13.3 |
-13.0 |
-12.4 |
- |
|
Property/Plant/Equipment - Net |
27.9 |
26.2 |
19.6 |
16.2 |
11.4 |
|
Intangibles - Gross |
0.2 |
- |
- |
- |
- |
|
Accumulated Intangible Amortization |
0.0 |
- |
- |
- |
- |
|
Intangibles, Net |
0.2 |
0.1 |
0.2 |
0.1 |
0.3 |
|
LT Investment - Affiliate Companies |
0.0 |
4.4 |
4.2 |
3.8 |
2.6 |
|
LT Investments - Other |
0.7 |
0.2 |
0.1 |
0.1 |
0.2 |
|
Long Term Investments |
0.7 |
4.6 |
4.3 |
3.9 |
2.8 |
|
Note Receivable - Long Term |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Other Long Term Assets |
- |
0.0 |
0.0 |
0.2 |
0.2 |
|
Other Long Term Assets, Total |
- |
0.0 |
0.0 |
0.2 |
0.2 |
|
Total Assets |
51.3 |
54.0 |
44.2 |
40.4 |
32.4 |
|
|
|
|
|
|
|
|
Accounts Payable |
2.9 |
3.3 |
3.1 |
2.2 |
1.3 |
|
Accrued Expenses |
0.8 |
0.5 |
0.3 |
0.3 |
0.2 |
|
Notes Payable/Short Term Debt |
0.0 |
4.6 |
0.0 |
0.0 |
2.5 |
|
Current Portion - Long Term Debt/Capital Leases |
- |
- |
- |
0.1 |
- |
|
Customer Advances |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Taxes Payable |
1.8 |
- |
0.2 |
0.5 |
0.3 |
|
Other Payables |
0.2 |
0.6 |
1.5 |
1.3 |
0.2 |
|
Deferred Income Tax - Current Liability |
- |
- |
- |
0.0 |
0.0 |
|
Other Current Liabilities |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Other Current liabilities, Total |
2.1 |
0.7 |
1.8 |
1.9 |
0.6 |
|
Total Current Liabilities |
5.8 |
9.1 |
5.2 |
4.5 |
4.6 |
|
|
|
|
|
|
|
|
Long Term Debt |
0.0 |
5.2 |
- |
- |
0.1 |
|
Total Long Term Debt |
0.0 |
5.2 |
0.0 |
0.0 |
0.1 |
|
Total Debt |
0.0 |
9.8 |
0.0 |
0.1 |
2.6 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
0.3 |
0.7 |
0.6 |
0.6 |
0.4 |
|
Deferred Income Tax |
0.3 |
0.7 |
0.6 |
0.6 |
0.4 |
|
Pension Benefits - Underfunded |
0.4 |
0.7 |
0.5 |
0.5 |
0.4 |
|
Other Long Term Liabilities |
- |
- |
- |
0.0 |
0.0 |
|
Other Liabilities, Total |
0.4 |
0.7 |
0.5 |
0.5 |
0.4 |
|
Total Liabilities |
6.4 |
15.6 |
6.3 |
5.6 |
5.4 |
|
|
|
|
|
|
|
|
Common Stock |
6.0 |
5.5 |
5.6 |
5.5 |
4.2 |
|
Common Stock |
6.0 |
5.5 |
5.6 |
5.5 |
4.2 |
|
Additional Paid-In Capital |
3.9 |
13.6 |
13.8 |
13.5 |
11.4 |
|
Retained Earnings (Accumulated Deficit) |
26.3 |
20.9 |
20.1 |
17.4 |
13.2 |
|
Treasury Stock - Common |
-2.8 |
-2.0 |
-2.1 |
-2.0 |
-1.9 |
|
Unrealized Gain (Loss) |
10.8 |
0.4 |
0.4 |
0.5 |
0.0 |
|
Other Equity |
0.7 |
- |
- |
- |
- |
|
Other Equity, Total |
0.7 |
- |
- |
- |
- |
|
Total Equity |
44.8 |
38.4 |
37.9 |
34.8 |
27.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
51.3 |
54.0 |
44.2 |
40.4 |
32.4 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
1.0 |
1.0 |
1.0 |
1.0 |
0.8 |
|
Total Common Shares Outstanding |
1.0 |
1.0 |
1.0 |
1.0 |
0.8 |
|
Treasury Shares - Common Stock Primary Issue |
0.3 |
0.3 |
0.3 |
0.3 |
0.3 |
|
Employees |
67 |
67 |
59 |
57 |
64 |
|
Number of Common Shareholders |
- |
- |
712 |
896 |
358 |
|
Accumulated Intangible Amort, Suppl. |
0.0 |
0.4 |
0.5 |
0.7 |
- |
|
Deferred Revenue - Current |
- |
0.0 |
0.0 |
0.0 |
0.1 |
|
Total Long Term Debt, Supplemental |
- |
5.5 |
- |
- |
0.1 |
|
Long Term Debt Maturing within 1 Year |
- |
0.2 |
- |
- |
0.0 |
|
Long Term Debt Maturing in Year 2 |
- |
5.3 |
- |
- |
0.0 |
|
Long Term Debt Maturing in 2-3 Years |
- |
5.3 |
- |
- |
0.0 |
|
Long Term Debt Matur. in Year 6 & Beyond |
- |
0.0 |
- |
- |
0.0 |
|
Pension Obligation - Domestic |
1.0 |
1.7 |
- |
- |
- |
|
Plan Assets - Domestic |
0.6 |
1.0 |
- |
- |
- |
|
Funded Status - Domestic |
-0.4 |
-0.7 |
- |
- |
- |
|
Total Funded Status |
-0.4 |
-0.7 |
- |
- |
- |
|
Discount Rate - Domestic |
5.25% |
5.25% |
- |
- |
- |
|
Expected Rate of Return - Domestic |
4.50% |
4.50% |
- |
- |
- |
|
Compensation Rate - Domestic |
3.00% |
8.45% |
- |
- |
- |
|
Total Plan Obligations |
1.0 |
1.7 |
- |
- |
- |
|
Total Plan Assets |
0.6 |
1.0 |
- |
- |
- |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1126.848795 |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
|
Auditor |
Samil Accounting
Corp. |
Samil Accounting
Corp. |
PricewaterhouseCoopers
LLP |
Hanwool
Accounting |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
4.5 |
1.9 |
3.4 |
3.0 |
1.9 |
|
Depreciation |
1.0 |
0.6 |
0.3 |
0.4 |
0.5 |
|
Depreciation/Depletion |
1.0 |
0.6 |
0.3 |
0.4 |
0.5 |
|
Amortization of Intangibles |
0.0 |
0.0 |
0.1 |
0.2 |
0.2 |
|
Amortization |
0.0 |
0.0 |
0.1 |
0.2 |
0.2 |
|
Deferred Taxes |
- |
- |
0.1 |
0.0 |
-0.2 |
|
Unusual Items |
-3.7 |
0.0 |
-0.2 |
0.0 |
0.1 |
|
Equity in Net Earnings (Loss) |
-0.2 |
-0.6 |
-0.5 |
-0.4 |
-0.4 |
|
Other Non-Cash Items |
0.8 |
0.5 |
0.2 |
0.4 |
0.3 |
|
Non-Cash Items |
-3.1 |
-0.1 |
-0.5 |
0.0 |
0.0 |
|
Accounts Receivable |
1.5 |
-1.9 |
-3.0 |
-0.8 |
0.0 |
|
Inventories |
1.1 |
-2.7 |
-0.2 |
0.9 |
-1.2 |
|
Prepaid Expenses |
- |
- |
0.0 |
0.0 |
0.0 |
|
Other Assets |
-0.1 |
-0.1 |
0.0 |
- |
0.0 |
|
Accounts Payable |
-0.6 |
0.2 |
0.9 |
1.7 |
-1.3 |
|
Accrued Expenses |
- |
- |
- |
0.0 |
-0.1 |
|
Taxes Payable |
- |
- |
0.0 |
0.2 |
0.3 |
|
Other Liabilities |
-0.3 |
-1.2 |
-0.6 |
-0.2 |
-0.3 |
|
Other Operating Cash Flow |
-0.1 |
-0.5 |
-0.9 |
0.1 |
0.1 |
|
Changes in Working Capital |
1.4 |
-6.1 |
-3.8 |
2.0 |
-2.4 |
|
Cash from Operating Activities |
3.9 |
-3.7 |
-0.4 |
5.6 |
-0.1 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-0.9 |
-7.8 |
-3.2 |
-4.0 |
-1.1 |
|
Purchase/Acquisition of Intangibles |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Capital Expenditures |
-0.9 |
-7.8 |
-3.3 |
-4.0 |
-1.1 |
|
Sale of Fixed Assets |
0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Sale/Maturity of Investment |
7.9 |
0.0 |
0.0 |
9.4 |
9.0 |
|
Investment, Net |
1.8 |
1.7 |
3.1 |
- |
- |
|
Purchase of Investments |
-0.1 |
-0.1 |
-0.1 |
-8.9 |
-9.3 |
|
Other Investing Cash Flow |
-0.4 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Investing Cash Flow Items, Total |
9.3 |
1.6 |
3.0 |
0.6 |
-0.3 |
|
Cash from Investing Activities |
8.4 |
-6.2 |
-0.3 |
-3.4 |
-1.4 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
- |
- |
- |
0.0 |
- |
|
Financing Cash Flow Items |
- |
- |
- |
0.0 |
- |
|
Cash Dividends Paid - Common |
- |
- |
- |
-0.2 |
-0.3 |
|
Total Cash Dividends Paid |
- |
- |
- |
-0.2 |
-0.3 |
|
Sale/Issuance of
Common |
0.8 |
0.0 |
- |
1.9 |
- |
|
Repurchase/Retirement
of Common |
-0.8 |
0.0 |
- |
- |
- |
|
Common Stock, Net |
-0.1 |
0.0 |
- |
1.9 |
- |
|
Issuance (Retirement) of Stock, Net |
-0.1 |
0.0 |
- |
1.9 |
- |
|
Short Term Debt Issued |
- |
- |
- |
8.7 |
13.8 |
|
Short Term Debt
Reduction |
- |
- |
- |
-11.2 |
-11.8 |
|
Short Term Debt, Net |
-4.7 |
4.8 |
- |
-2.5 |
1.9 |
|
Long Term Debt Issued |
0.0 |
5.4 |
- |
- |
- |
|
Long Term Debt
Reduction |
-5.3 |
0.0 |
- |
- |
- |
|
Long Term Debt, Net |
-5.3 |
5.4 |
- |
- |
- |
|
Issuance (Retirement) of Debt, Net |
-10.0 |
10.2 |
- |
-2.5 |
1.9 |
|
Cash from Financing Activities |
-10.1 |
10.2 |
- |
-0.8 |
1.7 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
0.0 |
0.0 |
- |
- |
|
Net Change in Cash |
2.2 |
0.3 |
-0.6 |
1.4 |
0.2 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
1.1 |
0.9 |
1.5 |
0.5 |
0.4 |
|
Net Cash - Ending Balance |
3.3 |
1.1 |
0.8 |
2.0 |
0.6 |
|
Cash Interest Paid |
0.2 |
0.2 |
0.0 |
- |
- |
|
Cash Taxes Paid |
-0.2 |
0.4 |
0.9 |
- |
- |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1126.848795 |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
|
Auditor |
Samil Accounting
Corp. |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
Hanwool
Accounting |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Finished Products |
- |
- |
- |
31.0 |
35.2 |
|
Sales Revenue of Merchandises |
- |
- |
- |
3.8 |
5.2 |
|
Sales Revenue |
55.0 |
54.0 |
43.2 |
- |
- |
|
Total Revenue |
55.0 |
54.0 |
43.2 |
34.8 |
40.4 |
|
|
|
|
|
|
|
|
Costs of Goods & Services Sold |
48.8 |
48.7 |
37.3 |
- |
- |
|
Cost of Finished Goods Sold |
- |
- |
- |
25.2 |
30.2 |
|
Cost of Merchandises Sold |
- |
- |
- |
3.1 |
4.5 |
|
Salaries & Wages |
2.3 |
1.8 |
1.5 |
1.4 |
1.7 |
|
Retirement & Severance Benefits |
0.5 |
0.1 |
0.1 |
0.2 |
0.2 |
|
Employee Benefits |
0.4 |
0.2 |
0.2 |
0.1 |
0.2 |
|
11 |
0.0 |
- |
- |
- |
- |
|
Travel Expense |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Communication Expense |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Consumable Expense |
0.1 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Utility Expense |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Taxes & Dues |
0.2 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Rental Expense |
0.0 |
0.0 |
0.0 |
- |
- |
|
Depreciation |
0.2 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Repair Expense |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Insurance Expense |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Entertainment Expense |
0.0 |
0.1 |
0.0 |
0.0 |
0.1 |
|
Advertising Expense |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Shipping & Handling Expense |
0.7 |
0.6 |
0.6 |
0.5 |
0.6 |
|
Commissions Expense |
0.3 |
0.2 |
0.1 |
0.1 |
0.1 |
|
Vehicle Maintenance Expense |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Education & Training Expense |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Exporting Related Expense |
0.4 |
0.1 |
0.1 |
0.5 |
0.6 |
|
Electricity Expense |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Publication Expense |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Expense of Allow. for DA |
0.1 |
0.0 |
0.2 |
0.1 |
0.0 |
|
Amort. of Intangibless |
0.0 |
0.0 |
0.1 |
0.2 |
0.2 |
|
R & D Expense |
0.0 |
0.0 |
- |
- |
- |
|
Sample Expense |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Adj. for Other Selling & Admin. Expense |
- |
- |
0.0 |
- |
- |
|
Gain on Foreign Currency Transaction |
- |
- |
-0.3 |
- |
- |
|
Gain on Foreign Currency Translation |
- |
- |
0.0 |
- |
- |
|
Gain on Disposal of PPE |
- |
- |
-0.2 |
- |
- |
|
Miscellaneous Income |
- |
- |
0.0 |
- |
- |
|
Adj. for Other Operating Income |
- |
- |
0.0 |
- |
- |
|
Loss on Foreign Currency Transaction |
- |
- |
0.2 |
- |
- |
|
Loss on Foreign Currency Translation |
- |
- |
0.0 |
- |
- |
|
Loss on Disposal of PPE |
- |
- |
0.0 |
- |
- |
|
Impmt Loss on Intangibless |
- |
- |
0.0 |
- |
- |
|
Miscellaneous Loss |
- |
- |
0.0 |
- |
- |
|
Loss-Disposal of FA Avail. for Sale |
- |
- |
0.0 |
- |
- |
|
Adj. for Other Operating Expense |
- |
- |
0.0 |
- |
- |
|
Total Operating Expense |
54.3 |
52.6 |
40.5 |
31.8 |
38.8 |
|
|
|
|
|
|
|
|
Interest Income |
0.1 |
0.1 |
0.2 |
0.3 |
0.4 |
|
Gain on Invmt in Affiliates |
- |
0.0 |
- |
- |
- |
|
Gain on Foreign Currency Transaction |
0.0 |
0.3 |
- |
- |
- |
|
Gain on Foreign Currency Translation |
0.0 |
0.0 |
- |
- |
- |
|
Loss on Foreign Currency Transaction |
-0.1 |
-0.2 |
- |
- |
- |
|
Loss on Foreign Currency Translation |
0.0 |
0.0 |
- |
- |
- |
|
G-For Curr Transactn |
- |
- |
- |
0.0 |
0.0 |
|
G-For Exch Translatn |
- |
- |
- |
0.3 |
0.3 |
|
Gain on Disposal of PPE |
0.0 |
0.0 |
- |
- |
- |
|
Gain Disposal of Invmt in Affiliates |
3.8 |
0.0 |
- |
- |
- |
|
Loss on Disposal of PPE |
0.0 |
0.0 |
- |
- |
- |
|
G-Tang Asset Disp. |
- |
- |
- |
0.0 |
0.0 |
|
Miscellaneous Income |
0.1 |
0.0 |
- |
- |
- |
|
Miscellaneous Loss |
0.0 |
0.0 |
- |
- |
- |
|
Donations Paid |
0.0 |
0.0 |
- |
- |
- |
|
Other Other Non-Operating Income |
0.0 |
0.0 |
- |
- |
- |
|
Other Other Non-Operating Expense |
0.0 |
0.0 |
- |
- |
- |
|
Miscellaneous Income |
- |
- |
- |
0.0 |
0.0 |
|
Interest Expense |
-0.2 |
-0.3 |
0.0 |
0.0 |
-0.1 |
|
L-For Curr Transactn |
- |
- |
- |
0.0 |
0.0 |
|
Loss-Reduction of Intangible Assets |
- |
- |
- |
- |
-0.1 |
|
L-for Exch Translatn |
- |
- |
- |
-0.3 |
-0.3 |
|
L-Tang Asset Disp. |
- |
- |
- |
- |
0.0 |
|
Losses on Sale of Available for Sale Sec |
- |
- |
- |
0.0 |
- |
|
Miscellaneous Losses |
- |
- |
- |
0.0 |
0.0 |
|
Gain on Invmt in Affiliates |
0.2 |
0.6 |
0.5 |
0.4 |
0.4 |
|
Net Income Before Taxes |
4.5 |
1.9 |
3.4 |
3.7 |
2.2 |
|
|
|
|
|
|
|
|
Prov. for Income Taxes |
1.2 |
0.2 |
0.6 |
0.7 |
0.3 |
|
Net Income After Taxes |
3.4 |
1.6 |
2.9 |
3.0 |
1.9 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
3.4 |
1.6 |
2.9 |
3.0 |
1.9 |
|
Net Income |
3.4 |
1.6 |
2.9 |
3.0 |
1.9 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
3.4 |
1.6 |
2.9 |
3.0 |
1.9 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
3.4 |
1.6 |
2.9 |
3.0 |
1.9 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
1.0 |
1.0 |
1.0 |
0.8 |
0.8 |
|
Basic EPS Excluding ExtraOrdinary Items |
3.32 |
1.61 |
2.81 |
3.60 |
2.30 |
|
Basic EPS Including ExtraOrdinary Items |
3.32 |
1.61 |
2.81 |
3.60 |
2.30 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
3.4 |
1.6 |
2.9 |
3.0 |
1.9 |
|
Diluted Weighted Average Shares |
1.0 |
1.0 |
1.0 |
0.8 |
0.8 |
|
Diluted EPS Excluding ExtraOrd Items |
3.32 |
1.61 |
2.81 |
3.60 |
2.30 |
|
Diluted EPS Including ExtraOrd Items |
3.32 |
1.61 |
2.81 |
3.60 |
2.30 |
|
DPS-Ordinary Shares |
0.00 |
0.18 |
0.22 |
0.29 |
0.27 |
|
Gross Dividends - Common Stock |
0.0 |
0.2 |
0.2 |
0.3 |
0.2 |
|
Normalized Income Before Taxes |
0.8 |
1.9 |
3.3 |
3.7 |
2.2 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
0.2 |
0.2 |
0.6 |
0.7 |
0.3 |
|
Normalized Income After Taxes |
0.6 |
1.6 |
2.7 |
3.0 |
1.9 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
0.6 |
1.6 |
2.7 |
3.0 |
1.9 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.57 |
1.61 |
2.67 |
3.59 |
2.30 |
|
Diluted Normalized EPS |
0.57 |
1.61 |
2.67 |
3.59 |
2.30 |
|
Interest Expense |
0.2 |
0.3 |
- |
- |
- |
|
Interest Expense, Supplemental |
- |
- |
0.0 |
0.0 |
0.1 |
|
Rental Expense |
0.0 |
0.0 |
- |
- |
- |
|
Rental Expense, Supplemental |
- |
- |
0.0 |
- |
- |
|
Advertising Expense |
0.0 |
0.0 |
- |
- |
- |
|
Advertising Expense, Supplemental |
- |
- |
0.0 |
0.0 |
0.0 |
|
R & D Expense |
0.0 |
0.0 |
- |
- |
- |
|
Research & Development |
- |
- |
- |
0.1 |
- |
|
BC - Depreciation of Fixed Assets |
1.0 |
0.6 |
- |
- |
- |
|
Depreciation, Supplemental |
- |
- |
0.3 |
0.4 |
0.5 |
|
BC - Depreciation of Intangible Assets |
0.0 |
0.0 |
- |
- |
- |
|
Amort of Intangibles, Supplemental |
- |
- |
0.1 |
0.2 |
0.2 |
|
Other Prov. for Income Taxes |
0.0 |
0.0 |
- |
- |
- |
|
Current Tax - Total |
1.5 |
0.0 |
- |
- |
- |
|
Current Tax - Total |
1.5 |
0.0 |
- |
- |
- |
|
Deferred Tax - Total |
-0.4 |
0.2 |
- |
- |
- |
|
Deferred Tax - Total |
-0.4 |
0.2 |
- |
- |
- |
|
Income Tax - Total |
1.2 |
0.2 |
- |
- |
- |
|
Expected Return on Assets |
0.0 |
0.0 |
- |
- |
- |
|
Service Cost |
0.3 |
0.2 |
- |
- |
- |
|
Domestic Pension Plan Expense |
0.3 |
0.2 |
- |
- |
- |
|
Total Pension Expense |
0.3 |
0.2 |
- |
- |
- |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1066.400024 |
1152 |
1134.9 |
1164.475 |
1259.55 |
|
Auditor |
Samil Accounting
Corp. |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
Hanwool
Accounting |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Other Cash & Cash Equivalents |
- |
- |
- |
- |
- |
|
Cash & Cash Equivalents |
- |
1.1 |
0.8 |
2.2 |
0.5 |
|
Current Fincl Instrm |
0.3 |
1.8 |
3.4 |
5.7 |
5.7 |
|
Other Other Current Fincl Instrm |
0.0 |
0.0 |
0.0 |
- |
- |
|
Trade Receivable, Gross |
13.0 |
13.6 |
11.9 |
8.6 |
7.3 |
|
Allow. for DA for Trade Receivable |
-0.1 |
-0.1 |
0.0 |
-0.1 |
-0.1 |
|
Other Trade Receivable, Net |
0.0 |
0.0 |
- |
- |
- |
|
Accrued Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Account Receivable, Net |
0.1 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Current Loans to Employees |
0.0 |
0.0 |
0.0 |
- |
- |
|
Advance Payments |
0.1 |
- |
- |
0.0 |
0.0 |
|
Current Tax Assets |
0.0 |
0.2 |
- |
- |
- |
|
Prepaid Expense |
0.0 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Finished Goods |
3.0 |
3.6 |
1.9 |
1.8 |
2.3 |
|
Semi-finished Goods |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Raw Materials |
2.2 |
2.4 |
1.7 |
1.6 |
1.8 |
|
Supplies |
0.1 |
0.1 |
0.1 |
0.0 |
0.0 |
|
Goods in Transit |
0.4 |
0.3 |
0.1 |
0.0 |
0.1 |
|
Adj. for Inventories |
- |
0.0 |
- |
- |
- |
|
Other Other Current Assets |
0.0 |
- |
- |
- |
- |
|
Bank Deposits & Cash in Hands |
3.5 |
- |
- |
- |
- |
|
Total Current Assets |
22.5 |
23.1 |
20.1 |
20.0 |
17.7 |
|
|
|
|
|
|
|
|
Other Non-Current Fincl Instrm |
0.7 |
- |
- |
- |
- |
|
LT Finl Assets |
- |
0.2 |
0.1 |
0.1 |
0.2 |
|
Non-Current Securities Available-for-Sal |
0.0 |
0.0 |
0.0 |
- |
- |
|
Non-Current Securities Held-to-Maturitie |
0.0 |
0.0 |
0.0 |
- |
- |
|
Invmt in Affiliates |
0.0 |
4.4 |
4.2 |
3.8 |
2.6 |
|
Guarantee Deposits, Non-Current Assets |
- |
0.0 |
0.0 |
0.2 |
0.2 |
|
Non-Current Trade Receivable |
0.0 |
- |
- |
- |
- |
|
Non-Current Trade Receivable(1) |
- |
0.0 |
0.0 |
- |
- |
|
Allowance for Doubtful Account for Non- |
0.0 |
0.0 |
- |
- |
- |
|
Other Non-Current Trade Receivable |
- |
- |
- |
- |
- |
|
LT Invest Secs. |
- |
- |
- |
0.0 |
0.0 |
|
LT Loan |
- |
- |
- |
- |
0.0 |
|
Lands |
11.3 |
- |
- |
- |
- |
|
Lands |
- |
10.5 |
9.1 |
8.8 |
8.1 |
|
Buildings, Gross |
11.0 |
10.2 |
2.4 |
2.1 |
1.3 |
|
Buildings-Depreciation |
-1.5 |
-1.1 |
-0.9 |
-0.8 |
- |
|
Structures, Gross |
1.3 |
1.1 |
0.7 |
0.7 |
0.2 |
|
Lands-Depreciation |
0.0 |
- |
- |
- |
- |
|
Construction in Progress-Depreciation |
0.0 |
- |
- |
- |
- |
|
Structures-Depreciation |
-0.7 |
-0.6 |
-0.6 |
-0.5 |
- |
|
Structures-Government Subsidy |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Machineries & Equipments, Gross |
16.4 |
15.1 |
10.4 |
10.0 |
0.7 |
|
Machineries & Equipments-Depreciation |
-11.0 |
-9.7 |
-9.6 |
-9.3 |
- |
|
Machineries & Equipments-Govern. Subsidy |
0.0 |
0.0 |
-0.1 |
-0.1 |
- |
|
Vehicles, Gross |
0.5 |
0.7 |
0.6 |
0.6 |
0.3 |
|
Vehicles-Depreciation |
-0.3 |
-0.4 |
-0.4 |
-0.4 |
- |
|
Tools & Equipments |
1.1 |
1.0 |
0.9 |
0.8 |
0.0 |
|
Tools & Equipments-Government Subsidy |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Tools & Equipments-Depreciation |
-0.9 |
-0.8 |
-0.8 |
-0.8 |
- |
|
Fixtures, Gross |
0.9 |
0.8 |
0.7 |
0.7 |
0.0 |
|
Fixtures-Depreciation |
-0.8 |
-0.7 |
-0.7 |
-0.7 |
- |
|
Government Subsidy for Office Equipment |
- |
- |
- |
0.0 |
- |
|
Construction in Progress |
0.6 |
0.1 |
7.8 |
5.0 |
0.8 |
|
Other Property, Plant & Equipment, Gross |
0.0 |
0.0 |
- |
- |
- |
|
Industrial Property Rights |
- |
- |
0.0 |
0.0 |
0.0 |
|
Development Costs |
- |
- |
0.0 |
0.1 |
0.3 |
|
Other Intangibless |
- |
0.1 |
0.1 |
0.0 |
0.0 |
|
Other Intangibless,Net |
0.0 |
0.0 |
0.0 |
- |
- |
|
Other Intangibless-Amort. |
0.0 |
- |
- |
- |
- |
|
Other Intangibless, Gross |
0.2 |
- |
- |
- |
- |
|
Total Assets |
51.3 |
54.0 |
44.2 |
40.4 |
32.4 |
|
|
|
|
|
|
|
|
Current Trade Payable |
2.9 |
3.3 |
3.1 |
2.2 |
1.3 |
|
Current Borrowings |
0.0 |
4.6 |
- |
- |
2.5 |
|
Current Tax Liabilities |
1.8 |
- |
0.2 |
0.5 |
0.3 |
|
Other Payable |
0.2 |
0.6 |
1.5 |
1.3 |
0.2 |
|
Other Current Liabilities |
0.1 |
- |
- |
- |
- |
|
Withheld |
- |
0.1 |
0.1 |
0.1 |
0.1 |
|
Other Other Current Fincl Liabilities |
0.0 |
0.0 |
0.0 |
- |
- |
|
Accrued Expense |
0.8 |
0.5 |
0.3 |
0.3 |
0.2 |
|
Advance from Customers, Current |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Income Tax Credits |
- |
- |
- |
0.0 |
0.0 |
|
Current Portion of Long-term Liabilities |
- |
- |
- |
0.1 |
- |
|
Adj. for Other Current Liabilities |
- |
- |
0.0 |
- |
- |
|
Total Current Liabilities |
5.8 |
9.1 |
5.2 |
4.5 |
4.6 |
|
|
|
|
|
|
|
|
Other Non-current Fincl Liabilities |
0.0 |
- |
- |
- |
- |
|
Non-Current Borrowings |
0.0 |
5.2 |
- |
- |
0.1 |
|
Total Long Term Debt |
0.0 |
5.2 |
- |
- |
0.1 |
|
|
|
|
|
|
|
|
Provisions for Retirement and Severance |
0.4 |
0.7 |
0.5 |
1.3 |
0.4 |
|
LT Accrued Expenses |
- |
- |
- |
0.0 |
0.0 |
|
Deferred Income Taxes, LT Liabilities |
0.3 |
0.7 |
0.6 |
0.6 |
0.4 |
|
Deposits for Retirement and Severance Be |
- |
- |
- |
-0.8 |
- |
|
Transfer to National Pension Fund |
- |
- |
- |
0.0 |
- |
|
Total Liabilities |
6.4 |
15.6 |
6.3 |
5.6 |
5.4 |
|
|
|
|
|
|
|
|
Capital Stock |
6.0 |
5.5 |
5.6 |
5.5 |
4.2 |
|
Other Capital Surplus |
0.0 |
- |
- |
- |
- |
|
Additional Paid in Capital |
3.9 |
- |
- |
3.6 |
2.2 |
|
Capital Surplus |
- |
13.6 |
13.8 |
9.9 |
9.1 |
|
Legal Reserve |
- |
- |
- |
2.1 |
1.9 |
|
Voluntary Reserve |
0.0 |
- |
- |
11.0 |
8.8 |
|
Unappropriated Retained Earnings |
- |
- |
- |
4.3 |
2.5 |
|
Retained Earnings |
26.3 |
20.9 |
20.1 |
- |
- |
|
Other Capital Items |
-2.8 |
-2.0 |
-2.1 |
-2.0 |
-1.9 |
|
Resv for Assets ReValt |
10.8 |
- |
- |
- |
- |
|
Capital Change under Equity Method |
- |
0.4 |
0.4 |
0.5 |
0.0 |
|
Gains on Disposal of Treasury Stock |
0.7 |
- |
- |
- |
- |
|
Accumulated Other Comprehensive Income |
0.0 |
- |
- |
- |
- |
|
Total Equity |
44.8 |
38.4 |
37.9 |
34.8 |
27.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
51.3 |
54.0 |
44.2 |
40.4 |
32.4 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
1.0 |
1.0 |
1.0 |
1.0 |
0.8 |
|
Total Common Shares Outstanding |
1.0 |
1.0 |
1.0 |
1.0 |
0.8 |
|
T/S-Ordinary Shares |
0.3 |
0.3 |
0.3 |
0.3 |
0.3 |
|
Accumulated Intangible Amort, Suppl. |
0.0 |
0.4 |
0.5 |
0.7 |
- |
|
Deferred Revenue, Current |
- |
0.0 |
0.0 |
0.0 |
0.1 |
|
Full-Time Employees |
67 |
67 |
59 |
57 |
64 |
|
Number of Common Shareholders |
- |
- |
712 |
896 |
358 |
|
LT Debt Maturing in Year 1 |
- |
0.2 |
- |
- |
- |
|
LT Debt Maturing in Year 2 |
- |
5.3 |
- |
- |
0.1 |
|
Total Long Term Debt, Supplemental |
- |
5.5 |
- |
- |
0.1 |
|
Fair Value of Plan Assets |
0.6 |
1.0 |
- |
- |
- |
|
Projected Benefit Obligation |
1.0 |
1.7 |
- |
- |
- |
|
Funded Status |
-0.4 |
-0.7 |
- |
- |
- |
|
Total Funded Status |
-0.4 |
-0.7 |
- |
- |
- |
|
Discount Rate - Period End - End Range |
5.25% |
5.25% |
- |
- |
- |
|
Expected Rate of Return - Period End |
4.50% |
4.50% |
- |
- |
- |
|
Compensation Increase Rate - Period End |
3.00% |
8.45% |
- |
- |
- |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1126.848795 |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
|
Auditor |
Samil Accounting
Corp. |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
Hanwool
Accounting |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income or Loss |
4.5 |
1.9 |
3.4 |
3.0 |
1.9 |
|
Depreciation |
1.0 |
0.6 |
0.3 |
0.4 |
0.5 |
|
Payment for Retirement Allow., ONCI |
- |
- |
0.2 |
0.3 |
0.3 |
|
Retirement and Severance Benefits |
0.4 |
0.3 |
- |
- |
- |
|
Employee Benefits Expense |
0.3 |
0.0 |
- |
- |
- |
|
Government Subsidy |
-0.1 |
- |
- |
- |
- |
|
Expense of Allow. for DA |
0.1 |
0.0 |
0.2 |
0.1 |
0.0 |
|
Amort. of Intangibless |
0.0 |
0.0 |
0.1 |
0.2 |
0.2 |
|
Interest Expenses |
0.2 |
0.3 |
0.0 |
- |
- |
|
Losses on Foreign Currency Translation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
L-Tang Asset Disp. |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Loss on Disposal of Securities Available |
- |
- |
0.0 |
0.0 |
- |
|
Losses on Valt of Inventories |
0.1 |
0.0 |
- |
- |
- |
|
Gain on Sale of Invesment in Affiliates |
-3.8 |
0.0 |
- |
- |
- |
|
Impmt Loss on Intangibless |
- |
- |
0.0 |
- |
0.1 |
|
Gian under Euity Method |
-0.2 |
-0.6 |
-0.5 |
-0.4 |
-0.4 |
|
Gains on Foreign Currency Translation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Gain on Disposal of Property, Plant and |
0.0 |
0.0 |
-0.2 |
0.0 |
0.0 |
|
Adjustment of Government Subsidies |
- |
- |
- |
- |
0.0 |
|
Interest Income |
-0.1 |
-0.1 |
-0.2 |
- |
- |
|
Trade Receivables |
1.5 |
-1.9 |
-3.0 |
-0.8 |
0.0 |
|
Decrease Acct Rcvbl |
- |
- |
- |
0.0 |
0.0 |
|
Dec in Accrued Inc |
- |
- |
- |
0.1 |
0.0 |
|
Prepaid Expenses |
- |
- |
0.0 |
0.0 |
0.0 |
|
Dec Advanced Payment |
- |
- |
- |
0.0 |
0.0 |
|
Inventory |
1.1 |
-2.7 |
-0.2 |
0.9 |
-1.3 |
|
Trade Payable |
-0.6 |
0.2 |
0.9 |
0.7 |
-1.3 |
|
Account Payables |
- |
- |
- |
1.0 |
0.0 |
|
Other Current Assets |
0.0 |
0.0 |
- |
- |
- |
|
Decs in Other Current Fincl Assets |
0.0 |
0.0 |
0.0 |
- |
- |
|
Other Non-Current Fiancial Assets |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Inc in Advances Rcvd |
- |
- |
- |
0.0 |
0.0 |
|
Other Current Fincl Liabilities |
0.0 |
-0.8 |
-0.2 |
- |
- |
|
Other Non-Current Liabilities |
0.0 |
0.0 |
0.0 |
- |
- |
|
Inc in Deposit Rcvd |
- |
- |
- |
0.0 |
0.0 |
|
Inc in Accrued Exp. |
- |
- |
- |
0.0 |
-0.1 |
|
Income Taxes Payable |
- |
- |
0.0 |
0.2 |
0.3 |
|
Non-Current Deferred Income Tax Credit |
- |
- |
0.1 |
- |
- |
|
Deferred Taxes-Liabs |
- |
- |
- |
0.0 |
-0.1 |
|
Deferred Income Tax Credit, Current, A/L |
- |
- |
- |
0.0 |
0.0 |
|
Payment for Retirement Allow. |
-0.3 |
-0.4 |
-0.4 |
-0.1 |
-0.3 |
|
Inc-Dep for Ret Ins |
- |
- |
- |
-0.1 |
0.0 |
|
Dec in Natl Pension |
- |
- |
- |
- |
0.0 |
|
Adj. for Cash Flow from Operations |
- |
- |
0.0 |
- |
- |
|
11 |
0.0 |
0.0 |
- |
- |
- |
|
Cash-Tax Refunded |
0.2 |
0.0 |
- |
- |
- |
|
Cash-Dividend Income |
0.0 |
0.3 |
0.1 |
0.1 |
0.1 |
|
Cash-Interest Received |
0.1 |
0.1 |
0.2 |
- |
- |
|
Cash-Interest Paid |
-0.2 |
-0.2 |
0.0 |
- |
- |
|
Cash-Tax Paid |
0.0 |
-0.4 |
-0.9 |
- |
- |
|
Cash-Dividend Paid |
-0.2 |
-0.2 |
-0.3 |
- |
- |
|
Cash from Operating Activities |
3.9 |
-3.7 |
-0.4 |
5.6 |
-0.1 |
|
|
|
|
|
|
|
|
Dec-ST Finl Assets |
- |
- |
- |
9.4 |
9.0 |
|
Proceeds from Sale of ST Financial Instr |
- |
0.0 |
- |
- |
- |
|
Disposal of Equity Method Securities |
0.0 |
- |
- |
- |
- |
|
Sale of Fincl Assets Held to Maturity |
0.0 |
0.0 |
- |
- |
- |
|
Sale of Invmt in Affiliates |
7.9 |
0.0 |
- |
- |
- |
|
Decrease in Non-Current Loans |
0.0 |
0.0 |
- |
- |
- |
|
Increase in Non-Current Loans |
-0.7 |
0.0 |
- |
- |
- |
|
Current Loans, Net |
0.0 |
0.0 |
- |
- |
- |
|
Government Subsidy |
0.2 |
0.0 |
- |
- |
- |
|
Decrease in Guarantee Deposit |
0.0 |
0.0 |
- |
- |
- |
|
Proceeds from Sale of Long-term Investme |
- |
- |
0.0 |
0.0 |
- |
|
Disposal of Tangible Assets |
0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Dec in LT Empl Loans |
- |
- |
- |
0.0 |
0.0 |
|
Inc-ST Finl Assets |
- |
- |
- |
-8.7 |
-9.2 |
|
Inc in LT Empl Loans |
- |
- |
- |
- |
0.0 |
|
Current Loans, Net |
- |
- |
0.0 |
- |
- |
|
Increase in Guarantee Deposit |
0.0 |
0.0 |
0.0 |
- |
- |
|
Purchase of Non-Current Fincl Instrm |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Inc-Secs Avail-Sale |
- |
- |
- |
- |
0.0 |
|
Incr-Secs held till Maturity |
- |
- |
- |
- |
0.0 |
|
Purchase of Sec. Available-for-Sale |
- |
- |
0.0 |
0.0 |
- |
|
Current Finacial Instruments, Net |
1.8 |
1.7 |
3.1 |
- |
- |
|
Purchase of Tangibles |
-0.9 |
-7.8 |
-3.2 |
-0.2 |
-0.2 |
|
Purchase of Intangibless |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Purchase of Construction in Progress |
- |
- |
- |
-3.8 |
-1.0 |
|
Cash from Investing Activities |
8.4 |
-6.2 |
-0.3 |
-3.4 |
-1.4 |
|
|
|
|
|
|
|
|
Increase in Treasury Stocks |
-0.8 |
0.0 |
- |
- |
- |
|
Inc in ST Borrowings |
- |
- |
- |
8.7 |
13.8 |
|
Increase-Subsidy from Government |
- |
- |
- |
0.0 |
- |
|
Increase in Non-Current Borrowings |
0.0 |
5.4 |
- |
- |
- |
|
Current Borrowings, Net |
-4.7 |
4.8 |
- |
- |
- |
|
Decrease in Treasury Stocks |
0.8 |
0.0 |
- |
- |
- |
|
Capital Increase |
- |
- |
- |
1.9 |
- |
|
Repay ST Borrowings |
- |
- |
- |
-11.2 |
-11.8 |
|
Dividend Paid |
- |
- |
- |
-0.2 |
-0.3 |
|
Dec in LT Borrowings |
-5.3 |
0.0 |
- |
- |
- |
|
Cash from Financing Activities |
-10.1 |
10.2 |
- |
-0.8 |
1.7 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
0.0 |
0.0 |
- |
- |
|
Incs or Decs in Cash & Cash Equivalents |
2.2 |
0.3 |
-0.6 |
1.4 |
0.2 |
|
|
|
|
|
|
|
|
Cash and Cash Equivalents at Beginning |
1.1 |
0.9 |
1.5 |
0.5 |
0.4 |
|
Cash and Cash Equivalents at End |
3.3 |
1.1 |
0.8 |
2.0 |
0.6 |
|
Cash Interest Paid |
0.2 |
0.2 |
0.0 |
- |
- |
|
Cash Taxes Paid |
-0.2 |
0.4 |
0.9 |
- |
- |
Financial
Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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Annual Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.36 |
|
UK Pound |
1 |
Rs.89.69 |
|
Euro |
1 |
Rs.77.99 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.