|
Report Date : |
13.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
KPIC CORPORATION |
|
|
|
|
Registered Office : |
471, Gongdeok-dong, Mapo-gu, Seoul, Korea, 4FL., S-Oil Bldg., Zip Code 121-805 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
28.03.2005 |
|
|
|
|
Com. Reg. No.: |
104-81-93116 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Wholesaler of other chemical materials and chemical products |
|
|
|
|
No. of Employees : |
48 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
South Korea - ECONOMIC OVERVIEW
South Korea over the past four decades has demonstrated incredible
growth and global integration to become a high-tech industrialized economy. In the
1960s, GDP per capita was comparable with levels in the poorer countries of
Africa and Asia. In 2004, South Korea joined the trillion dollar club of world
economies, and currently is among the world's 20 largest economies. Initially,
a system of close government and business ties, including directed credit and
import restrictions, made this success possible. The government promoted the
import of raw materials and technology at the expense of consumer goods, and
encouraged savings and investment over consumption. The Asian financial crisis
of 1997-98 exposed longstanding weaknesses in South Korea''s development model
including high debt/equity ratios and massive short-term foreign borrowing. GDP
plunged by 6.9% in 1998, and then recovered by 9% in 1999-2000. Korea adopted
numerous economic reforms following the crisis, including greater openness to
foreign investment and imports. Growth moderated to about 4% annually between
2003 and 2007. With the global economic downturn in late 2008, South Korean GDP
growth slowed to 0.3% in 2009. In the third quarter of 2009, the economy began
to recover, in large part due to export growth, low interest rates, and an
expansionary fiscal policy, and growth was 3.6% in 2011. In 2011, the US-South
Korea Free Trade Agreement was ratified by both governments and is projected to
go into effect in early 2012. The South Korean economy''s long term challenges
include a rapidly aging population, inflexible labor market, and heavy reliance
on exports - which comprise half of GDP.
|
Source : CIA |
|
Company
Name |
KPIC CORPORATION (Korean Company Name : “(주)케이피아이씨코포레이션”) |
|
Registered Address |
471, Gongdeok-dong, Mapo-gu, Seoul, Korea |
|
Building |
4FL., S-Oil Bldg. |
|
Zip Code |
121-805 |
|
Tel |
+82-2-757-7121 |
|
Fax |
+82-2-757-6167~8 |
|
E-mail |
|
|
Trading Address |
4FL., S-Oil Bldg., 471, Gongdeok-dong, Mapo-gu, Seoul, Korea |
|
Tel |
+82-2-3706-0841 |
|
Fax |
+82-2-3706-0864 |
|
Type |
Export |
|
Industry |
Wholesale of Other Chemical Materials and Chemical Products |
|
Main Business |
Petrochemicals, Polypropylene Resin |
|
Sub
Business |
Freight Transport Brokerage, Agency and Other Supporting Transport
Services |
|
Established (mm/dd/yyyy) |
03/28/2005 |
The Subject Company
occupies the premises of registered HQ address by leasing base.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Transport arrangements(78141500) |
|
Sell |
International trade services(80151600) |
|
Sell |
Freight forwarders services(78141501) |
|
Sell |
Chemistry reagents or solutions(41116105) |
|
Sell |
Polyethylene(13111016) |
|
Name |
Han Sang-Ho |
|
Address |
Suite 103-205, 615, Irwon-dong, Gangnam-gu,
Seoul, Korea |
|
Date of Birth |
05/05/1952 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
295,590,000 |
||||||||||||
|
Employees |
48 |
||||||||||||
|
Formation |
Co., Ltd by shares A Company of KOREA PETRO CHEMICAL IND. |
||||||||||||
|
Bank Details |
Kookmin Bank-Taepyungro Branch Woori Bank Korea Exchange Bank |
||||||||||||
|
Corporate Registered No. |
110111-3196056 |
||||||||||||
|
Business Registered No. |
104-81-93116 |
||||||||||||
|
Permit & Licenses |
Int’l Trade No.: 45348169 |
||||||||||||
|
Shareholder Position |
|
||||||||||||
|
Company History |
03/28/2005 Incorporated as the present name 07/02/2010 Decreased capital to 295,590,000 KRW from 300,000,000 KRW 07/18/2011 Moved to the present HQ address
from Rm.
1226, Haenam Bldg., 21, Bukchang-dong, Jung-gu, Seoul, Korea |
||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Han Sang-Ho |
Male |
Korean |
03/28/2005 |
|
Director |
Mr. |
Jang Seok-San |
Male |
Korean |
03/28/2005 |
|
Auditor |
M/S. |
Kim Mi-Hyun |
Female |
Korean |
03/28/2005 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
742,486,336,618 |
121,312,220,519 |
11,861,036,573 |
|
|
2010 |
755,052,552,862 |
90,804,644,988 |
9,977,009,865 |
|
2009 |
779,171,990,911 |
53,459,189,570 |
6,960,056,898 |
|
2008 |
442,942,534,295 |
30,264,084,448 |
2,007,149,085 |
|
2007 |
90,468,443,880 |
26,389,479,623 |
920,146,637 |
|
2006 |
101,036,720,764 |
16,109,014,087 |
7,099,901,080 |
|
Authorized Capital(KRW) |
1,200,000,000 |
|
Paid-Up Capital(KRW) |
295,590,000 |
|
Total Issued Shares |
59,118 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Total Assets |
121,312,220,519 |
90,804,644,988 |
53,459,189,570 |
|
Current Assets |
33,360,807,901 |
31,610,065,989 |
33,577,982,173 |
|
-Quick Assets |
29,667,684,125 |
30,002,850,309 |
33,577,982,173 |
|
-Inventories |
3,693,123,776 |
1,607,215,680 |
- |
|
Fixed Assets |
87,951,412,618 |
59,194,578,999 |
19,881,207,397 |
|
-Investment |
86,117,444,266 |
58,461,409,189 |
19,097,897,084 |
|
-Tangibles |
152,164,523 |
92,998,358 |
161,084,599 |
|
-Intangibles |
14,881,667 |
1,214,371 |
2,146,578 |
|
-Others |
1,666,922,162 |
638,957,081 |
620,079,136 |
|
Total Liabilities |
16,455,645,203 |
22,851,656,701 |
31,554,293,044 |
|
Current Liabilities |
16,403,746,703 |
22,851,656,701 |
31,554,293,044 |
|
Fixed Liabilities |
51,898,500 |
- |
- |
|
Capital Stock |
295,590,000 |
295,590,000 |
300,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
54,416,126,771 |
25,469,579,028 |
17,425,738,573 |
|
Capital Adjustment |
50,144,858,545 |
42,187,819,259 |
4,179,157,953 |
|
Total Equity |
104,856,575,316 |
67,952,988,287 |
21,904,896,526 |
|
Liab. & Shareholder’s Equity |
121,312,220,519 |
90,804,644,988 |
53,459,189,570 |
|
Current Liabilities |
16,403,746,703 |
22,851,656,701 |
31,554,293,044 |
|
Trade Payables |
12,670,216,805 |
21,063,465,101 |
27,093,610,416 |
|
Withholdings |
40,962,430 |
34,110,180 |
26,503,190 |
|
Advance Receipts |
1,420,424,981 |
958,021,515 |
79,267,434 |
|
Short-Term Borrowings |
|
|
3,000,000,000 |
|
Account
Payables |
151,656,633 |
123,622,891 |
94,511,902 |
|
Accrued Income Tax |
2,067,264,704 |
656,311,513 |
1,221,601,118 |
|
Accrued Expenses |
53,221,150 |
16,125,501 |
38,798,984 |
|
Fixed
Liabilities |
51,898,500 |
- |
- |
|
Provision for Severance & Retirement |
51,898,500 |
- |
- |
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Sales |
742,486,336,618 |
755,052,552,862 |
779,171,990,911 |
|
Cost of Sold Goods |
725,219,478,819 |
741,634,884,354 |
764,444,513,001 |
|
Gross Profit |
17,266,857,799 |
13,417,668,508 |
14,727,477,910 |
|
Selling & Admin. Expenses |
6,260,659,725 |
5,627,653,243 |
5,619,801,371 |
|
Operating Income |
11,006,198,074 |
7,790,015,265 |
9,107,676,539 |
|
Non-Operating Income |
11,836,915,297 |
13,168,256,818 |
12,530,604,989 |
|
Non-Operating Expenses |
7,595,970,115 |
9,605,761,771 |
12,387,658,268 |
|
Income Before Taxes |
15,247,143,256 |
11,352,510,312 |
9,250,623,260 |
|
Income Taxes Expenses |
3,386,106,683 |
1,375,500,447 |
2,290,566,362 |
|
Net Income |
11,861,036,573 |
9,977,009,865 |
6,960,056,898 |
Cash
Flows
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Cash Flows from Operating |
-4,163,289,051 |
8,136,404,042 |
4,393,304,032 |
|
-Net Income |
11,861,036,573 |
9,977,009,865 |
6,960,056,898 |
|
-Exp. without Cash Outflow |
525,953,930 |
467,255,778 |
1,033,972,910 |
|
-Revenue without Cash Inflows |
-3,235,881,817 |
-2,706,771,179 |
-1,626,684,969 |
|
-Changes in Asset/ & Liability |
-13,314,397,737 |
398,909,578 |
-1,974,040,807 |
|
Cash Flows from Investing |
-1,290,393,999 |
411,421,879 |
-4,151,901,473 |
|
-Cash Inflow from Investing |
105,296,500 |
675,164,543 |
581,666,000 |
|
-Cash Outflows for Investing |
-1,395,690,499 |
-263,742,664 |
-4,733,567,473 |
|
Cash Flows from Financing |
- |
-3,999,508,860 |
1,300,000,000 |
|
-Cash Inflows from Financing |
- |
- |
1,300,000,000 |
|
-Cash Outflows from Financing |
- |
-3,999,508,860 |
- |
|
Increase/Decrease in Cash |
-5,453,683,050 |
4,548,317,061 |
1,541,402,559 |
|
Cash at the Beginning of Year |
20,387,515,433 |
15,839,198,372 |
14,297,795,813 |
|
Cash at the End of Year |
14,933,832,383 |
20,387,515,433 |
15,839,198,372 |
|
Main Products & Services |
Petrochemicals Polypropylene Resin Freight Transport Brokerage Agency and Other Supporting Transport Services |
|
Customers |
KOREA PETRO CHEMICAL IND CO.,LTD.(110111-0024698) UNI-PEPP. LTD.(110111-1933913) |
|
Competitors |
YOUNG CHEON LOGISTICS CO., LTD. 4TH FL., YEONGCHEON BLDG., 33-2,
GONGHANG-DONG, GANGSEO-GU, SEOUL, KOREA TEL:+82-2-3663-9009 FAX:+82-2-3665-3004 AGILITY LTD. 2ND FL., YEOLRIN BLDG., 1666-3, SEOCHO
1-DONG, SEOCHO-GU, SEOUL, KOREA TEL:+82-2-539-9411 FAX:+82-2-539-2071 AIRSTAR INTERNATIONAL CO., LTD. 2ND FL., SEOYEONG BLDG., 367-9,
SEOGYO-DONG, MAPO-GU, SEOUL, KOREA TEL:+82-2-333-3933 FAX:+82-2-323-5700 |
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
KOREA PETRO CHEMICAL IND CO.,LTD.(110111-0024698) (3.66% held by the subject company) UNI-PEPP. LTD.(110111-1933913) (38.05% held by the subject company) KOREA AIR-TECH CO., LTD.(230111-0114452) |
|
Subsidiary |
ATMAN PTE.LTD. (100.0% held by the subject company) |
|
Cooperative Enterprise |
-Insured Company DONGBU INSURANCE CO., LTD.(110111-0095285) |
(Activity & Markets)
The Subject exports
to China and USA
No.
--
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.34 |
|
UK Pound |
1 |
Rs.80.89 |
|
Euro |
1 |
Rs.70.73 |
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.