|
Report Date : |
20.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
GLOBAL BATTERY CO., LTD. |
|
|
|
|
Registered Office : |
6th Fl., Sebang Bldg. 708-8, Yeoksam 2-dong, Gangnam-gu, Seoul, Korea 135-919 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
10.09.1952 |
|
|
|
|
Com. Reg. No.: |
220-81-00490 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Accumulators |
|
|
|
|
No. of Employees : |
820 |
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 : |
Good |
|
Payment Behaviour : |
Regular |
|
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 |
|
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 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 |
GLOBAL BATTERY
CO., LTD. (Korean Company
Name : “세방전지(주)”) |
|
Registered Address |
708-8, Yeoksam 2-dong, Gangnam-gu, Seoul,
Korea |
|
Building |
6th Fl., Sebang Bldg. |
|
Zip Code |
135-919 |
|
Tel |
+82-2-3451-6201 |
|
Fax |
+82-2-3451-6301 |
|
E-mail |
antony@gbattery.com;yhs@gbattery.com;hikaru@gbattery.com;donchoi@gbattery.com |
|
Website |
www.gbattery.com |
|
Trading Address |
6th Fl., Sebang Bldg., 708-8, Yeoksam
2-dong, Gangnam-gu, Seoul, Korea |
|
Tel |
+82-2-3451-6201 |
|
Fax |
+82-2-3451-6301 |
|
Other Address-Gwangju Factory |
500-4, Hanam-dong, Gwangsan-gu, Gwangju,
Korea |
|
Tel |
+82-62-601-6100 |
|
Fax |
+82-62-951-4126 |
|
Other Address-Chang-won Factory |
601-9, Namsan-dong, Changwon-si, Gyeongsangnam-do, Korea |
|
Tel |
+82-55-279-9700 |
|
Fax |
+82-55-282-2658 |
|
Other Address-Daegu Branch |
3rd Fl., KARICO Bldg., 123-1, Sincheon
3-dong, Dong-gu, Daegu, Korea |
|
Tel |
+82-53-746-9201~3 |
|
Fax |
+82-53-746-9204 |
|
Other Address-Daejeon Branch |
3rd Fl., Unam Bldg., 62-1, Ojeong-dong, Daedeok-gu, Daejeon, Korea |
|
Tel |
+82-42-632-8841 |
|
Fax |
|
|
Other Address-Gwangju Branch |
603-4, Gwangcheon-dong, Seo-gu, Gwangju,
Korea |
|
Tel |
+82-62-365-9969 |
|
Fax |
|
|
Other Address-Busan Branch |
Rm. 301, Leaders Bldg., 313-3, Daecheong-ri, Jangyu-myeon, Gimhae-si,
Gyeongsangnam-do, Korea |
|
Tel |
+82-55-314-6515 |
|
Fax |
+82-55-314-6514 |
|
Other Address-Gyoenggi Branch |
827-6, Gwanyang 2-dong, Dongan-gu,
Anyang-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-436-3200 |
|
Fax |
+82-31-436-3353 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Accumulators |
|
Main
Business |
Automotive Batteries, Industrial Batteries, Motorcycle Batteries,
Battery |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
09/10/1952 |
The Subject owns
the premises of Gwangju Factory and Chang-won Factory.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Vehicle batteries(26111703) |
|
Sell |
Batteries and cells and
accessories(26111700) |
|
Name |
Lee Sang-Woong |
|
Date of Birth |
12/12/1958 |
|
Title |
Vice Chairman & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
7,000,000,000 |
||||||||||||||||||
|
Employees |
820 |
||||||||||||||||||
|
Formation |
Listed Company (Korea Stock Exchange : 004490) as of 11/29/1987 Foreign Direct Investment Corporation A Company of Sebang Group |
||||||||||||||||||
|
Bank Details |
Shinhan Bank-Tehran Ro Branch Citibank Korea |
||||||||||||||||||
|
Corporate Registered No. |
110111-0202765 |
||||||||||||||||||
|
Business Registered No. |
220-81-00490 |
||||||||||||||||||
|
Permit & Licenses |
03/1967 KS Mark 12/1968 KS Mark 02/1970 Ks Mark 11/1974 KS Mark 11/1989 JIS 07/1993 ISO 9002 by DNS 04/1994 ISO 9001 by DNS 05/1994 ISO 9001 by DNS 10/1995 KS Mark 09/2004 ISO 14001 10/2007 KS Mark Int’l Trade No.: 777027 |
||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||
|
Company History |
09/1952 Founded as R&D center of the
Korea Navy 01/1965 KS certified as the first in Korean
battery industry 01/1965 Secured technical tie-up with GS
Battery in Japan 04/1975 Capital invested from Yuasa Battery
in Japan 11/1983 KS certified for entire line of
products 07/1988 Secured technical tie-up with Hagen
in Germany 11/1989 Opened KwangJu plant for automotive
battery 10/1992 Secured technical tie-up with SAFT
in France 01/1993 ISO 9002 certified as the first in
Asian battery industry 04/1994 ChangWon plant and KwangJu plant
ISO 9001 certified by DNV QA 11/1994 Opened the 2nd KwangJu plant 10/1997 KwangJu plant QS 9000 certified by
DNV QA 11/2000 KwangJu plant ISO 14001 certified
by DNV QA 12/2003 KwangJu Plant ISO/TS 16949
certified by KFQ 09/2005 New name to Sebang Global Battery
Co., Ltd 08/2007 Awarded the new technology
certification of nickel hydride battery (NET) 03/2008 Achieved the environment mark
certification of nickel hydride battery 08/2008 Granted the KS certification of
nickel hydride battery 12/2008 awarded US$300 Million Export Top
Prize |
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education/Career |
|
Chairman |
Mr. |
Lee Eui-Soon |
Korean |
1923.06.12 |
Foreign Language University in Japan |
|
Vice Chairman & CEO |
Mr. |
Lee Sang-Woong |
Korean |
1958.12.12 |
Seogang University, Korea |
|
Sr. Executive & CEO |
Mr. |
Lim Dong-Joon |
Korean |
1960.02 |
Changwon University, Korea |
|
Director |
Mr. |
Yoda Makoto |
Japanese |
1950.01.24 |
Present President of GS Yuasa Power Supply |
|
Outside Director/ Auditor |
Mr. |
Kim Jae-Sun |
Korean |
1948.11 |
Yonsei University, Korea |
|
Outside Director |
Mr. |
Jung Chang-Soo |
Korean |
1957.04 |
Kyunghee University, Korea |
|
Auditor |
Mr. |
Seo Young-Kil |
Korean |
1945.03 |
Korea University, Korea |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
208,297,667,257 |
789,294,019,466 |
17,408,110,925 |
|
|
(*)2012 |
846,330,248,435 |
772,556,142,262 |
97,869,278,606 |
|
(*)2011 |
953,871,594,678 |
712,634,498,379 |
105,374,945,854 |
|
(*)2010 |
790,200,173,691 |
593,934,630,277 |
85,826,884,296 |
|
2009 |
627,174,255,866 |
428,991,487,635 |
70,289,574,494 |
|
2008 |
624,588,851,164 |
358,862,223,342 |
75,368,845,987 |
|
2007 |
496,287,206,324 |
316,751,081,071 |
18,808,672,221 |
|
2006 |
319,529,859,554 |
262,981,942,994 |
11,903,121,305 |
|
2005 |
290,142,246,871 |
250,195,482,138 |
13,893,753,311 |
(*)Figures are based
on the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
19,600,000,000 |
|
Paid-Up Capital(KRW) |
7,000,000,000 |
|
Total Issues Shares |
14,000,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
01/01/2013~03/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Total Assets |
789,294,019,466 |
772,556,142,262 |
712,634,498,379 |
|
Current
Assets |
575,600,566,455 |
556,759,161,741 |
524,580,637,244 |
|
Cash & Cash Equivalents |
64,553,964,778 |
52,976,623,842 |
112,735,857,399 |
|
Current Financial Instruments |
203,000,000,000 |
232,027,700,514 |
95,000,000,000 |
|
Marketable Financial Instruments |
17,111,407 |
17,028,149 |
17,742,515 |
|
Trade Receivables & Other
Receivables |
163,799,036,234 |
161,335,798,558 |
191,906,818,486 |
|
Inventories |
133,120,396,342 |
102,715,535,927 |
115,014,828,643 |
|
Other Current Assets |
11,110,057,694 |
7,686,474,751 |
9,905,390,201 |
|
Non-Current
Assets |
213,693,453,011 |
215,796,980,521 |
188,053,861,135 |
|
Non-Current Marketable Financial
Instruments |
7,899,915,116 |
7,501,849,218 |
6,851,195,552 |
|
Non-Current Held-to-Maturity
Financial Assets |
1,500,000,000 |
2,500,000,000 |
2,500,000,000 |
|
Tangibles |
196,947,779,652 |
198,085,770,648 |
171,362,128,892 |
|
Intangibles |
2,903,380,000 |
2,779,220,000 |
3,505,377,917 |
|
Investment_Real Estates |
2,279,179,000 |
2,279,179,000 |
2,279,179,000 |
|
Other Non-Current Assets |
2,163,199,243 |
2,612,336,707 |
1,517,354,126 |
|
Other Non-Current Assets to be
Sold |
0 |
38,624,948 |
38,625,648 |
|
Total
Liabilities |
192,956,489,449 |
187,032,790,862 |
222,215,306,307 |
|
Current
Liabilities |
179,949,147,078 |
177,567,507,797 |
207,608,451,041 |
|
Trade Payables & Other
Payables |
89,847,129,757 |
79,599,630,233 |
81,980,088,086 |
|
Short-Term Borrowings |
68,607,805,159 |
74,800,935,182 |
93,267,901,666 |
|
Current Portion of Long-Term
Debts |
37,756,800 |
111,015,900 |
102,321,000 |
|
Provision for Sales Guarantee |
70,437,799 |
90,525,379 |
163,059,206 |
|
Income Taxes |
13,631,149,932 |
15,452,634,520 |
21,860,742,945 |
|
Other Current Liabilities |
7,754,867,631 |
7,512,766,583 |
10,234,338,138 |
|
Non-Current
Liabilities |
13,007,342,371 |
9,465,283,065 |
14,606,855,266 |
|
Long-Term Trade Payables &
Other Payables |
1,084,644,056 |
1,240,841,376 |
1,171,229,260 |
|
Long-Term Borrowings |
549,026,100 |
485,784,000 |
596,799,900 |
|
Provision for Severance &
Retirement |
3,383,811,657 |
0 |
5,517,755,643 |
|
Deferred Income Tax Credit |
7,989,860,558 |
7,738,657,689 |
7,321,070,463 |
|
Capital
Stock |
7,000,000,000 |
7,000,000,000 |
7,000,000,000 |
|
Capital Surplus |
58,944,253,239 |
58,944,253,239 |
58,944,253,239 |
|
Others |
2,121,875,381 |
1,827,097,400 |
1,353,647,341 |
|
Profit Surplus |
528,271,401,397 |
517,752,000,761 |
423,121,291,492 |
|
Total Equity |
596,337,530,017 |
585,523,351,400 |
490,419,192,072 |
|
Liab. & Shareholder’s Equity |
789,294,019,466 |
772,556,142,262 |
712,634,498,379 |
Income
Statement
|
|||
|
Unit : Korean Won |
01/01/2013~03/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Sales |
208,297,667,257 |
846,330,248,435 |
953,871,594,678 |
|
Cost of Sold Goods |
171,795,397,477 |
655,117,533,779 |
752,482,468,522 |
|
Gross Profit |
36,502,269,780 |
191,212,714,656 |
201,389,126,156 |
|
Selling & Admin. Expenses |
16,593,205,393 |
68,067,166,993 |
68,771,694,265 |
|
Operating Income |
19,909,064,387 |
123,145,547,663 |
132,617,431,891 |
|
Other Income |
4,097,761,663 |
4,611,911,728 |
7,692,140,764 |
|
Other Expenses |
3,008,631,408 |
7,126,680,393 |
9,627,650,281 |
|
Finance Income |
2,385,015,016 |
9,445,013,988 |
8,432,752,160 |
|
Finance Expenses |
337,982,177 |
1,700,543,495 |
2,090,080,043 |
|
Income Before Taxes |
23,045,227,481 |
128,375,249,491 |
137,024,594,491 |
|
Income Taxes Expenses |
5,637,116,556 |
30,505,970,885 |
31,649,648,637 |
|
Income from Continuous Business |
17,408,110,925 |
97,869,278,606 |
105,374,945,854 |
|
Income from Stopped Business |
0 |
0 |
0 |
|
Net Income |
17,408,110,925 |
97,869,278,606 |
105,374,945,854 |
Cash
Flows
|
|||
|
Unit : Korean Won |
01/01/2013~03/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Operating
Activities Cash Flows |
-2,082,618,077 |
145,854,815,398 |
82,962,268,938 |
|
Net Income |
17,408,110,925 |
97,869,278,606 |
105,374,945,854 |
|
Adjustment |
-14,490,673,596 |
77,870,017,891 |
-2,028,889,924 |
|
Interests Received |
1,934,518,160 |
7,898,259,764 |
6,697,507,737 |
|
Dividends Received |
70,000,000 |
70,000,000 |
70,000,000 |
|
Interests Paid |
-337,982,177 |
-1,695,706,495 |
-2,093,058,043 |
|
Income Taxes |
-6,666,591,389 |
-36,157,034,368 |
-25,058,236,686 |
|
Cash Flows from Investing |
25,586,028,339 |
-182,873,208,698 |
-97,892,021,845 |
|
Cash Flows from Financing |
-12,459,405,586 |
-22,602,833,334 |
8,689,270,035 |
|
Increase/Decrease in Cash |
11,204,704,580 |
-59,645,446,173 |
-6,236,709,111 |
|
Cash at the Beginning of Year |
53,681,477,797 |
113,326,923,970 |
119,563,633,081 |
|
Cash at the End of Year |
64,886,182,377 |
53,681,477,797 |
113,326,923,970 |
|
Main Products & Services |
Automotive Batteries, Industrial Batteries, Motorcycle Batteries,
Battery Brand Name : Rocket |
|
Suppliers |
KOREA ZINC INC.(110111-0168404) GLOBAL INDUSTRIAL CO., LTD.(134111-0002612) |
|
Customers |
HYUNDAI MOTOR CO(110111-0085450) KIA MOTORS CORPORATION(110111-0037998) SSANGYONG MOTOR CO., LTD.(110111-0035132) GM DAEWOO AUTO & TECHNOLOGY
COMPANY(120111-0294124) |
|
Competitors |
HYUNDAI ENERCELL CO.,LTD.(131111-0003043) ATLAS BX CO.,LTD.(160111-0003486) DELKOR CORPORATION(110111-0409030) |
(Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
SEBANG CO., LTD.(180111-0015932) SEBANG HI-TECH CO., LTD.(110111-1392060) HANKOOK SHIPPING CO., LTD.(110111-0029838) OJU SHIPPING CO., LTD.(11011100131823) WOOJU SHIPPING CO., LTD.(110111-0198708) OVERSEAS AIR FREIGHT CO., LTD.(110111-0107139) BUSAN INTERNATIONAL CONTAINER TERMINAL CO.,
LTD.(180111-0525858) KWANGYANG INTERNATIONAL CONTAINER TERMINAL
CO., LTD.(204611-0022029) GLOBAL INDUSTRIAL CO., LTD.(134111-0002612) GLOBAL EXPRESS CO., LTD.(110111-0007602) SEBANG NEW PORT LOGISTICS CO.,
LTD.(180111-0602515) SEBANG KWANGYANG INTERNATIONAL LOGISTICS
CO., LTD.(204611-0025974) MOKPO DAEBUL PORT OPERATION CO.,
LTD.(205411-0014376) |
|
Cooperative Enterprise |
-Insured Company LIG INSURANCE CO., LTD(110111-0017859) -Technology Support from EN-CONSULTING M&G ECO-BATTERY |
(Activity &
Markets)
|
Sales/ Unit :Mil KRW |
03/2012 |
2011 |
2010 |
|
Export |
113,701 |
569,410 |
490,034 |
|
Domestic |
99,708 |
384,462 |
300,166 |
|
Total |
213,409 |
953,872 |
790,200 |
The Subject deals
with the companies in China, Japan and USA.
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.79 |
|
|
1 |
Rs.91.03 |
|
Euro |
1 |
Rs.78.52 |
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.