|
Report Date : |
13.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
HANLA IMS CO., LTD. |
|
|
|
|
Registered Office : |
595-4, Hwajeon-dong, Gangseo-gu, Busan, Korea 618-280 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
13.07.1995 |
|
|
|
|
Com. Reg. No.: |
606-81-57969 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Sections for Ships |
|
|
|
|
No. of Employees : |
149 |
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 – 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 |
HANLA IMS CO.,
LTD. (Korean Company
Name : “한라아이엠에스(주)”) |
|
Registered Address |
595-4, Hwajeon-dong, Gangseo-gu, Busan,
Korea |
|
Zip Code |
618-280 |
|
Tel |
+82-51-601-7000 |
|
Fax |
+82-51-831-1850 |
|
E-mail |
hanla@hanlaims.com |
|
Website |
www.hanlalevel.co.kr;www.hanlaims.com |
|
Trading Address |
595-4, Hwajeon-dong, Gangseo-gu, Busan,
Korea |
|
Tel |
+82-51-601-7000 |
|
Fax |
+82-51-831-1850 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Sections for Ships |
|
Main Business |
Monitoring System, Level Instrument, Level Switch, Level Gauge, Flat
Type Level Gauge, Tubular Type Glass Level Gauge, Marine Float Level Gauge,
Magnetic Float Type Level Indicator, Self-powered Content Gauge Unit, Dial
Type Float Level Gauge |
|
Sub
Business |
Manufacture of Instruments for Automatic Measurement or Control |
|
Established (mm/dd/yyyy) |
07/13/1995 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Level sensors or transmitters(41111938) |
|
Sell |
Level or float switches(39121531) |
|
Name |
Ji Suk-Joon |
|
Date of Birth |
09/06/1956 |
|
Title |
Co-President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
4,500,000,000 |
|||||||||||||||
|
Employees |
149 |
|||||||||||||||
|
Formation |
Listed Company (KOSDAQ : 092460) as of 05/22/2007 |
|||||||||||||||
|
Bank Details |
Industrial Bank of Korea-Noksan Industrial
Complex Branch |
|||||||||||||||
|
Corporate Registered No. |
180111-0186907 |
|||||||||||||||
|
Business Registered No. |
606-81-57969 |
|||||||||||||||
|
Permit & Licenses |
05/2011 ISO 14001 Int’l Trade No.: 157513 |
|||||||||||||||
|
Shareholder Position |
|
|||||||||||||||
|
Company History |
01/1989 Established as HANLA LEVEL INSTRUMENT CO.(Sole Proprietorship) 07/13/1995 Incorporated as HANLA LEVEL CO., LTD. 06/2007 Designated as an INNO-BIZ Company 10/30/2009 Changed company name to the
present name 05/18/2012 Moved to the present HQ address from
1610-5, Songjeong-dong, Gangseo-gu, Busan, Korea |
|||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Date of Birth |
|
Co-President & CEO |
Mr. |
Ji Suk-Joon |
Male |
Korean |
1956.09.06 |
|
Co-President & CEO |
Mr. |
Kim Young-Koo |
Male |
Korean |
1959.04.10 |
|
Outside Director |
Mr. |
Choi Byung-Kook |
Male |
Korean |
1953.06.27 |
|
Outside Director |
Mr. |
Kim Min-Joon |
Male |
Korean |
1956.05.31 |
|
Auditor |
Mr. |
Kim Jong-Kil |
Male |
Korean |
1967.04.13 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
6,714,593,866 |
70,863,793,407 |
65,316,492 |
|
|
2012 |
38,095,563,668 |
71,635,730,758 |
3,429,899,601 |
|
2011 |
39,194,481,019 |
60,816,159,468 |
4,863,016,433 |
|
Authorized Capital(KRW) |
50,000,000,000 |
|
Paid-Up Capital(KRW) |
4,500,000,000 |
|
Total Issued Shares |
9,000,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
01/01/2013~03/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Total Assets |
70,863,793,407 |
71,635,730,758 |
60,816,159,468 |
|
Current
Assets |
37,796,624,469 |
38,423,331,772 |
31,504,585,694 |
|
Cash & Cash Equivalents |
12,680,521,324 |
15,194,340,827 |
13,208,020,075 |
|
Current Financial Instruments |
11,595,000,000 |
11,295,000,000 |
4,354,598,630 |
|
Trade Receivables & Other
Receivables |
5,193,888,993 |
5,436,692,616 |
4,782,640,289 |
|
Marketable Financial Instruments |
2,728,071,338 |
1,542,597,794 |
2,013,681,000 |
|
Inventories |
3,874,650,711 |
3,731,341,340 |
4,975,547,023 |
|
Deferred Income Tax Assets |
208,319,885 |
296,348,543 |
6,573,558 |
|
Derivatives |
|
|
95,201,019 |
|
Other Financial Assets |
1,516,172,218 |
927,010,652 |
2,068,324,100 |
|
Non-Current
Assets |
33,067,168,938 |
33,212,398,986 |
29,311,573,774 |
|
Other Non-Current Assets |
15,177,000 |
15,177,000 |
210,431,671 |
|
Non-Current Financial Instruments |
177,932,119 |
161,024,977 |
109,009,183 |
|
Marketable Financial Instruments |
144,985,000 |
144,985,000 |
106,720,000 |
|
Investment_Subsidiaries |
8,530,179,246 |
8,530,179,246 |
7,391,000,000 |
|
Investment_Related Companies |
2,356,805,000 |
2,356,805,000 |
2,949,940,000 |
|
Tangibles |
15,864,880,105 |
15,958,269,948 |
17,611,086,422 |
|
Investment_Real Estates |
4,848,860,516 |
4,871,983,764 |
|
|
Intangibles |
1,128,349,952 |
1,173,974,051 |
933,386,498 |
|
Total
Liabilities |
16,121,394,809 |
16,983,598,480 |
10,466,554,320 |
|
Current
Liabilities |
2,870,859,420 |
3,294,004,719 |
4,343,974,899 |
|
Trade Payables & Other
Payables |
2,466,368,752 |
2,461,303,732 |
2,670,584,265 |
|
Short-Term Borrowings |
84,742,020 |
145,011,944 |
322,865,880 |
|
Other Current Financial Debts |
|
26,033,037 |
1,194,296 |
|
Other Current Non-Financial Debts |
319,748,648 |
661,656,006 |
1,349,330,458 |
|
Non-Current
Liabilities |
13,250,535,389 |
13,689,593,761 |
6,122,579,421 |
|
Long-Term Trade Payables &
Other Payables |
365,000,000 |
370,000,000 |
20,000,000 |
|
Long-Term Borrowings |
11,516,677,860 |
11,888,695,000 |
5,280,866,956 |
|
Provision for Severance &
Retirement |
1,019,258,949 |
973,591,718 |
438,411,658 |
|
Deferred Income Tax Credit |
349,598,580 |
457,307,043 |
383,300,807 |
|
Capital
Stock |
4,500,000,000 |
4,500,000,000 |
4,500,000,000 |
|
Capital Surplus |
13,245,828,142 |
13,245,828,142 |
11,131,220,505 |
|
Profit Surplus |
37,031,242,724 |
36,966,447,140 |
34,843,055,111 |
|
Others |
-34,672,268 |
-60,143,004 |
-124,670,468 |
|
Total Equity |
54,742,398,598 |
54,652,132,278 |
50,349,605,148 |
|
Liab. & Shareholder’s Equity |
70,863,793,407 |
71,635,730,758 |
60,816,159,468 |
Income
Statement
|
|||
|
Unit : Korean Won |
01/01/2013~03/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Sales |
6,714,593,866 |
38,095,563,668 |
39,194,481,019 |
|
Cost of Sold Goods |
5,428,265,912 |
29,016,585,111 |
26,865,446,874 |
|
Gross Profit |
1,286,327,954 |
9,078,978,557 |
12,329,034,145 |
|
Selling & Admin. Expenses |
1,980,485,678 |
8,174,517,831 |
7,789,023,543 |
|
Operating Income |
-694,157,724 |
904,460,726 |
4,540,010,602 |
|
Other Income |
673,871,013 |
2,534,357,646 |
1,030,231,601 |
|
Other Expenses |
88,697,208 |
450,378,417 |
686,304,875 |
|
Finance Income |
242,385,679 |
776,175,350 |
783,758,785 |
|
Finance Expenses |
78,461,914 |
272,532,215 |
21,401,029 |
|
Income Before Taxes |
54,939,846 |
3,492,083,090 |
5,646,295,084 |
|
Income Taxes Expenses |
-10,376,646 |
62,183,489 |
783,278,651 |
|
Net Income |
65,316,492 |
3,429,899,601 |
4,863,016,433 |
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 |
-853,948,590 |
3,832,048,407 |
3,600,797,900 |
|
Net Income |
65,316,492 |
3,429,899,601 |
4,863,016,433 |
|
Adjustment |
-381,098,850 |
-1,221,963,333 |
844,169,973 |
|
Changes in Asset/ & Liability |
-574,093,833 |
1,476,347,258 |
-15,871,100 |
|
Interests Received |
130,827,412 |
711,244,105 |
852,345,974 |
|
Dividends Received |
|
665,000 |
|
|
Interests Paid |
-78,559,521 |
-264,946,025 |
-17,681,069 |
|
Income Taxes |
-16,340,290 |
-299,198,199 |
-2,925,182,311 |
|
Cash Flows from Investing |
-1,601,064,622 |
-9,264,154,104 |
-8,569,385,675 |
|
Cash Flows from Financing |
-60,269,924 |
7,453,501,026 |
-1,671,962,042 |
|
Increase/Decrease in Cash |
-2,515,283,136 |
2,021,395,329 |
-6,640,549,817 |
|
Cash at the Beginning of Year |
15,194,340,827 |
13,208,020,075 |
19,858,576,194 |
|
Cash at the End of Year |
12,680,521,324 |
15,194,340,827 |
13,208,020,075 |
|
Main Products & Services |
Monitoring System, Level Instrument, Level Switch, Level Gauge, Flat
Type Level Gauge, Tubular Type Glass Level Gauge, Marine Float Level Gauge, Magnetic
Float Type Level Indicator, Self-powered Content Gauge Unit, Dial Type Float
Level Gauge |
|
Competitors |
DAEKYUNG MACHINERY & ENGINEERING CO.,
LTD. 125-2, BUGOK-DONG, NAM-GU, ULSAN, KOREA TEL:+82-52-278-9000 FAX:+82-52-273-9898 ILSUNG CORPORATION 917, WONSAN-RI, ONSAN-EUP, ULJU-GUN, ULSAN,
KOREA TEL:+82-52-231-7514~5 FAX:+82-52-239-0333 DKT CO., LTD. 916-1, WONSAN-RI, ONSAN-EUP, ULJU-GUN,
ULSAN, KOREA TEL:+82-52-231-7300 FAX:+82-52-238-7291 |
(Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
HANLA M&T CO., LTD.(180111-0618942) (54.0% held by the subject company) BLUE SCIENCE CO., LTD.(180111-0576497) (42.86% held by the subject company) |
|
Subsidiary |
HANLA MARINE MACHINERY & ELECTRIC CO.,
LTD.(CHINA) (100.0% held by the subject company) NANYUAN ROAD, SOUTH AREA OF ECONOMIC
DEVELOPMENT ZONE, ZHANGJIAGANG, JIANGSU PROVINCE, P.R. CHINA TEL:+86-512-5879-7601 |
(Activity &
Markets)
Not Available.
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.27 |
|
|
1 |
Rs.91.16 |
|
Euro |
1 |
Rs.77.50 |
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.