MIRA INFORM REPORT
|
Report Date : |
25.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
KOREA ZINC CO LTD |
|
|
|
|
Registered Office : |
Youngpung Bldg., 142, Nonhyeon-Dong, Gangnam-Gu Seoul, 135749 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
01.08.1974 |
|
|
|
|
Legal Form : |
Public Parent Company |
|
|
|
|
Line of Business : |
provision of
non-ferrous metals |
|
|
|
|
No. of Employees : |
1115 |
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 : |
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 & address
Korea Zinc Co Ltd
Youngpung Bldg., 142, Nonhyeon-Dong, Gangnam-Gu
Seoul, 135749
Korea, Republic of
Tel: 82-2-5193465
Fax: 82-2-5498245
Web: www.koreazinc.co.kr
Synthesis
Employees: 1,115
Company Type: Public Parent
Corporate Family: 6
Companies
Traded: Korea
Stock Exchange: 010130
Incorporation Date:
01-Aug-1974
Auditor: KPMG LLP
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2011
Reporting Currency: South
Korean Won
Annual Sales:
5,015.3 1
Net Income: 636.0
Total Assets:
3,998.4 2
Market Value:
6,536.3 (28-Feb-2013)
Business Description
Korea Zinc Company, Ltd. is a Korea-based company engaged in the provision of non-ferrous metals. The Company produces zinc product, including special high grade (SHG) zinc slab ingots, zinc alloy jumbo blocks, zinc anode ingots, zinc die casting ingots; lead products, including lead ingots and lead alloy ingots, and copper products. It also provides precious metal products, including gold ingots and silver ingots, and rare materials, including indiums, bismuths and others, as well as sulfuric acids, electronic grade sulfuric acids and fuming sulfuric acids. For the nine months ended 30 September 2012, Korea Zinc Co Ltd revenues decreased 4% to W4.085T. Net income decreased 22% to W422.53B. Revenues reflect Australia segment decrease of 19% to W344.42B, South Korea segment decrease of 2% to W3.737T. Net income also reflects Manufacture and sale of non-ferrous metal segment income decrease of 17% to W594.23B, Mining Development segment loss totaling W11.81B vs. income of W2B.
Industry
Industry Miscellaneous Fabricated Products
ANZSIC 2006: 2141 - Non-Ferrous
Metal Casting
NACE 2002: 2754 - Casting of
other non-ferrous metals
NAICS 2002: 331522 -
Nonferrous (except Aluminum) Die-Casting Foundries
UK SIC 2003: 2754 - Casting of
other non-ferrous metals
UK SIC 2007: 2454 - Casting of
other non-ferrous metals
US SIC 1987: 3364 - Nonferrous
Die-Castings, Except Aluminum
Key Executives
|
Name |
Title |
|
Ui Ryung Lee |
President, Director |
|
Je Jung Lee |
Vice President |
|
Keun Chol Chang |
CEO |
|
Hyeong Jin Jang |
Director |
|
Chang Yeong Choi |
Honorary Chairman |
Significant Developments
|
Topic |
#* |
Most Recent
Headline |
Date |
|
1 |
Korea Zinc
Inc Issues FY 2013 Revenue Outlook Below Analysts' Estimates |
7-Feb-2013 |
|
|
1 |
28-Dec-2012 |
||
|
1 |
5-Mar-2013 |
* number of
significant developments within the last 12 months
News
|
||||||||||||||
|
|
Financial Summary
|
Stock Snapshot
|
1 - Profit & Loss Item Exchange Rate: USD 1 = KRW 1107.891
2 - Balance Sheet Item Exchange Rate: USD 1 = KRW 1152
Corporate Overview
Location
Youngpung Bldg., 142, Nonhyeon-Dong, Gangnam-Gu
Seoul, 135749
Korea, Republic of
Tel: 82-2-5193465
Fax: 82-2-5498245
Web: www.koreazinc.co.kr
Quote Symbol - Exchange
010130 - Korea
Stock Exchange
Sales KRW(mil): 5,556,409.5
Assets KRW(mil): 4,606,179.5
Employees: 1,115
Fiscal Year End: 31-Dec-2011
Industry: Miscellaneous
Fabricated Products
Incorporation Date: 01-Aug-1974
Company Type: Public
Parent
Quoted Status: Quoted
CEO : Keun
Chol Chang
Industry Codes
ANZSIC 2006 Codes:
2141 - Non-Ferrous Metal Casting
2133 - Copper, Silver, Lead and Zinc Smelting and Refining
1812 - Basic Organic Chemical Manufacturing
2149 - Other Basic Non-Ferrous Metal Product Manufacturing
NACE 2002 Codes:
2754 - Casting of other non-ferrous metals
2745 - Other non-ferrous metal production
2744 - Copper production
2414 - Manufacture of other organic basic chemicals
NAICS 2002 Codes:
331522 - Nonferrous (except Aluminum) Die-Casting Foundries
325199 - All Other Basic Organic Chemical Manufacturing
331512 - Steel Investment Foundries
331491 - Nonferrous Metal (except Copper and Aluminum) Rolling,
Drawing, and Extruding
US SIC 1987:
3364 - Nonferrous Die-Castings, Except Aluminum
3356 - Rolling, Drawing, and Extruding of Nonferrous Metals,
Except Copper and Aluminum
3331 - Primary Smelting and Refining of Copper
2869 - Industrial Organic Chemicals, Not Elsewhere Classified
UK SIC 2003:
2754 - Casting of other non-ferrous metals
2745 - Other non-ferrous metal production
2744 - Copper production
2414 - Manufacture of other organic basic chemicals
UK SIC 2007:
2454 - Casting of other non-ferrous metals
2014 - Manufacture of other organic basic chemicals
2445 - Other non-ferrous metal production
2444 - Copper production
Business
Description
Korea Zinc
Company, Ltd. is a Korea-based company engaged in the provision of non-ferrous
metals. The Company produces zinc product, including special high grade (SHG)
zinc slab ingots, zinc alloy jumbo blocks, zinc anode ingots, zinc die casting
ingots; lead products, including lead ingots and lead alloy ingots, and copper
products. It also provides precious metal products, including gold ingots and
silver ingots, and rare materials, including indiums, bismuths and others, as
well as sulfuric acids, electronic grade sulfuric acids and fuming sulfuric
acids. For the nine months ended 30 September 2012, Korea Zinc Co Ltd revenues
decreased 4% to W4.085T. Net income decreased 22% to W422.53B. Revenues reflect
Australia segment decrease of 19% to W344.42B, South Korea segment decrease of
2% to W3.737T. Net income also reflects Manufacture and sale of non-ferrous
metal segment income decrease of 17% to W594.23B, Mining Development segment
loss totaling W11.81B vs. income of W2B.
More Business
Descriptions
Manufacture and refining of non-ferrous metals, principally zinc and
lead
Zinc Mining
Korea Zinc Co.,
Ltd (Korea Zinc) is a general non-ferrous metal smelting company, based in
Korea. Korea Zinc manufactures and refines non ferrous metals. The metals
produced by the company include zinc and lead. Zinc finds application in
galvanization of steel plate, steel pipe and steel structure. Lead is used in
making battery, litharge, solder and electric wire coating. Korea Zinc also
produces gold, silver, palladium, platinum, copper, and cadmium, sulfuric acid
and bismuth ingot and so on. Korea Zinc's electronic grade sulfuric acid is
mainly used as a cleansing agent for GIGA-grade semi-conductors. The company
employs 850 people. Korea Zinc’s major operations are centered on four main
activities namely Base Metals (zinc and lead), Precious Metals (gold and
silver), Electronic Materials (electronic grade sulfuric acid) and Recycling
(waste batteries and other secondary materials from various industries). During
the fiscal year 2008, the company produced 655,000 tonnes of zinc, of which
445,000 tonnes were produced by Korea Zinc and 210,000 tonnes by Sun Metals
Corporation. The lead production of Korea Zinc in 2008 was 198,400 tonnes.
During the year 2011, Korea Zinc produced 1.13 million tons of zinc; 550,000
tons of zinc produced in Korea Zinc; 360,000 tons of zinc produced in
YoungPoong; and 220,000 of zinc are produced in Sun Metal Corporation. The
company has a global market share of 8% The refined gold production during the
fiscal year 2008 was 1.7 tonnes with one third being sold in the local market
while the rest was exported. Silver production was 1,003 tonnes where in more
than 85 % was sold to the overseas markets with the main export areas being
Japan and other Asian countries. Korea Zinc manufactures electronic grade
sulfuric acid and is the world’s largest manufacturer of quality sulfuric
acid. The principal market for this product is the GIGA grade semiconductor
industry. The company’s subsidiaries and affiliates are Klean Korea Co.,
Ltd., Korea Energy Co., ltd., Korea Heavy equipment Co., Ltd., YoungPoong
Precision Corp., Sorin Information Technology Co., Ltd., Sorin Corporation, Sun
Metals Corporation Pty., Ltd., KZ Engineering Corporation, and Korea Nickel
Corporation, KZ America Inc., Big River Zinc Corporation, Pan Pacific Metal
Mining Corp., KZ Australia Pty., Ltd., Sun Metals Corporation Pty., Ltd.,
Colwell Kennedy Australia Pty., Ltd. and KZ Pranda Co., Ltd. Sorin
Corporation’s role is to manage export sales for the Korea Zinc Group
companies. It is known for top zinc and lead supplier for customers and
business partners throughout the world. The products exported by the company
include products such as zinc, lead, sulfuric acid, silver, gold, cadmium and
bismuth which are distributed in Taiwan, Malaysia, Philippines, Indonesia,
Bangladesh, China, Japan and Vietnam. It also markets its products in India,
Pakistan, the Middle East, US, South America and African countries. Sorin
Corporation exported 49,000 metric tonnes of lead metal with India receiving
12,000 metric tonnes; 1,188,000 metric tons of sulfuric acid and 3,060 metric tons
of cadmium metal to various market destinations. The company also has
manufacturing plants located, two in Korea and one in Australia. During the
fiscal year 2008, 153,000 tonnes of zinc concentrate were delivered
representing 33.1% of Sun Metals concentrate feed. Sun Metals holds a 10%
equity position in Syndicated Metals. Sun Metals’ Townsville zinc refinery
produced 210,190 tonnes of refined zinc metal. Sulphuric Acid production in
2008 was 396,000 tonnes. The majority of this material was sold to Incitec
Pivot Fertilizers at Phosphate Hill under a long term contract. Sales of 54,000
tonnes of sulphuric acid were made to Queensland Terminals which on-sells to
regional North Queensland mining operations. A further 44,000 tonnes was sold
to chemical manufacturers in the South Queensland market. Korea Zinc remains as
the single largest shareholder of Kagara. The production and export of Copper
metal was 1,400 tonnes and sales were 1,261 tonnes. Cadmium Cake sales for the
year were 569 tonnes; Silver Cake sales were 5,120 tonnes and Zinc Ferrite Cake
sales were 80,896 tonnes. Lead Concentrate sales were 16,270 tonnes. The
technologies adopted by Korea Zinc for smelting methods includes, Integrated
Process – mainly used for Zinc/lead/Copper smelting; Direct leaching process
– used to enable materials to be dissolved directly into sulfuric acid
without having to go through the roasting process unlike other zinc smelters;
QSL – is a smelting reduction technology to integrate two separate processes
of oxidation and reduction; and TSL (Top Submerged Lance) technology –
Nonferrous Metal Smelting Slag Processing method, enables the recovery of
various metals like, zinc, lead, copper, silver and indium.KZE entered a new
business area called the Incinerator Fly Ash Smelting Process, using TSL (Top
Submerged Lance) Technology. The Technology was applied to government municipal
waste incineration plant to produce environmentally sustainable by-product that
has an additional benefit in its use in construction materials. KZE carries out
basic & detailed engineering based on which a number of buildings were
constructed such as TSL Zinc Fumer at SUKPO Zinc Refinery of YoungPoong
Corporation; Zinc Fumer at Onsan Refinery of Korea Zinc Corporation; Inco New
Nickel Materials (Dalian) Co., Ltd., Alantum Asia project, which is for a
higher value-added business of nickel being undertaken with both Inco Europe
and Korea Nickel Corporation. As well, a new business in India & South
Africa is under discussion. It provides Sun Metals Corporation in Australia
with EPCM services for improving the Leaching Process of their Zinc refinery
plant. Korea Zinc also provides superior equipment and engineering services. In
2008, the company obtained re-accreditation for ISO 9001:2000 (Quality
Management System) and ISO 14001:2004 (Environmental Management System). Korea
Zinc was incorporated in the year 1974 and is headquartered in Gangnam-gu,
Seoul, Korea.
Korea Zinc Co.,
Ltd. (Korea Zinc) is a non-ferrous metal smelting company, based in Korea. It
operates through production and marketing sectors of non-ferrous metals. The
company produces about 1 million tons of total 18 types of non-ferrous metals
from zinc to lead, gold, silver, and copper as well as rare metals such as
indium, nickel, bismuth, antimony trioxide, palladium, platinum, cadmium,
gallium, germanium, tellurium, and cobalt. It conducts the refining process for
both zinc and lead through its Onsan Refinery. The company’s main business
operations include Base Metals, Precious Metals, Electronic Materials and
Recycling. Its subsidiaries include Sorin Corporation, Sun Metals Corporation
Pty., Ltd., KZ Engineering Corporation and Korea Nickel Corporation. The
company was established in 1974. Korea Zinc is headquartered in Seoul, Korea.The
company reported revenues of (Won) KRW 5,556,409.36 million during the fiscal
year ended December 2011, an increase of 44.77% over 2010. The operating profit
of the company was KRW 964,410.90 million during the fiscal year 2011, an
increase of 40.96% over 2010. The net profit of the company was KRW 704,637.43
million during the fiscal year 2011, an increase of 28.38% over 2010.
Nonferrous Metal (except Aluminum) Smelting and Refining
|
||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||
|
Corporate Family |
Corporate
Structure News: |
|
|
Korea
Zinc Co Ltd |
|
Korea Zinc Co Ltd |
|
|
Company Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
|
|
Parent |
Seoul |
Korea, Republic of |
Miscellaneous Fabricated Products |
5,015.3 |
1,115 |
|
|
|
Subsidiary |
Ulsan |
Korea, Republic of |
Rental and Leasing |
|
60 |
|
|
|
Subsidiary |
Seoul |
Korea, Republic of |
Miscellaneous Capital Goods |
334.9 |
55 |
|
|
|
Subsidiary |
Chongju, Chollabuk-Do |
Korea, Republic of |
Retail (Department and Discount) |
|
50 |
|
|
|
Subsidiary |
Ulsan |
Korea, Republic of |
Electric Utilities |
|
46 |
|
|
|
Subsidiary |
Pyongtaek, Kyonggi-Do |
Korea, Republic of |
Oil and Gas Operations |
|
|
|
Competitors Report
|
Company
Name |
Location |
Employees |
Ownership |
|
BHP Billiton Limited |
Melbourne, Victoria, Australia |
46,370 |
Public |
|
Cpc Corp Taiwan |
Taipei, Taiwan |
14,843 |
Private |
|
Hitachi Metals, Ltd. |
Tokyo, Japan |
18,056 |
Public |
|
Hoganas AB |
Hoganas, Sweden |
1,729 |
Public |
|
Toho Zinc Co Ltd |
Tokyo, Japan |
1,130 |
Public |
|
TonenGeneral Sekiyu K.K. |
Tokyo, Japan |
2,171 |
Public |
Executive report
|
Board
of Directors |
|
|
|
|
|||||||||
|
Honorary Chairman |
Chairman |
|
|||||||||
|
||||||||||||
|
Chairman of the Board |
Chairman |
|
|
||||||||
|
||||||||||||
|
Director |
Director/Board Member |
|
|
||||||||
|
Director |
Director/Board Member |
|
|
||||||||
|
Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Director |
Director/Board Member |
|
|
||||||||
|
Director |
Director/Board Member |
|
|
||||||||
|
Non-Executive Independent Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Non-Executive Independent Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
President, Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Non-Executive Independent Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Director |
Director/Board Member |
|
|
||||||||
|
Director |
Director/Board Member |
|
|
||||||||
|
Non-Executive Independent Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Director |
Director/Board Member |
|
|
||||||||
|
Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Non-Executive Independent Director |
Director/Board Member |
|
|
||||||||
|
||||||||||||
|
Executives |
|
|
|
|
|||||||||
|
CEO |
Chief Executive Officer |
|
|||||||||
|
President, Director |
President |
|
|||||||||
|
||||||||||||
|
Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Assistant Managing Director |
Managing Director |
|
|
||||||||
|
||||||||||||
|
Director |
Other |
|
|
||||||||
|
||||||||||||
|
Vice President |
Other |
|
|
||||||||
|
||||||||||||
Significant Developments
Korea Zinc Inc Declares Annual Cash Dividend for FY 2012 Mar 05, 2013
Korea Zinc Inc announced that it has declared an annual cash dividend of KRW 5,000 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 1.27% and the total amount of the cash dividend is KRW 88,371,200,000. The dividend payment date is April 10, 2013.
Korea Zinc Inc Issues FY 2013 Revenue Outlook Below Analysts' Estimates Feb 07, 2013
Korea Zinc Inc announced that it expects the revenue for the fiscal year 2012 to record KRW 4,558.7 billion. According to I/B/E/S Estimates, analysts on average are expecting the Company to report revenue of KRW 5,411.92 billion for the fiscal year 2013.
Korea Zinc Inc Signs Contract with Bank of Nova Scotia Dec 28, 2012
Korea Zinc Inc announced that it has signed a contract with the Bank of Nova Scotia to supply silver. The contract amount is KRW 498,981,592,134.
Annual income statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
|
Auditor |
KPMG LLP |
KPMG LLP |
KPMG LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
5,015.3 |
3,319.3 |
2,495.4 |
2,804.6 |
3,629.2 |
|
Revenue |
5,015.3 |
3,319.3 |
2,495.4 |
2,804.6 |
3,629.2 |
|
Total Revenue |
5,015.3 |
3,319.3 |
2,495.4 |
2,804.6 |
3,629.2 |
|
|
|
|
|
|
|
|
Cost of Revenue |
4,023.9 |
2,659.7 |
2,080.5 |
2,230.7 |
2,964.3 |
|
Cost of Revenue, Total |
4,023.9 |
2,659.7 |
2,080.5 |
2,230.7 |
2,964.3 |
|
Gross Profit |
991.4 |
659.6 |
414.9 |
573.9 |
664.8 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
96.2 |
73.8 |
47.4 |
58.9 |
41.2 |
|
Labor & Related Expense |
22.4 |
22.3 |
18.1 |
18.1 |
17.4 |
|
Advertising Expense |
0.3 |
0.3 |
17.2 |
0.2 |
0.2 |
|
Total Selling/General/Administrative Expenses |
119.0 |
96.3 |
82.6 |
77.2 |
58.9 |
|
Research & Development |
- |
- |
0.8 |
- |
0.0 |
|
Depreciation |
1.8 |
2.4 |
2.5 |
1.3 |
1.2 |
|
Amortization of Intangibles |
0.8 |
0.6 |
0.7 |
0.0 |
0.0 |
|
Depreciation/Amortization |
2.6 |
3.0 |
3.2 |
1.3 |
1.2 |
|
Investment Income -
Operating |
2.1 |
-17.2 |
- |
- |
- |
|
Interest/Investment Income - Operating |
2.1 |
-17.2 |
- |
- |
- |
|
Interest Expense (Income) - Net Operating Total |
2.1 |
-17.2 |
- |
- |
- |
|
Impairment-Assets Held for Use |
0.5 |
3.8 |
- |
- |
- |
|
Loss (Gain) on Sale of Assets - Operating |
1.8 |
2.1 |
- |
- |
- |
|
Unusual Expense (Income) |
2.4 |
5.9 |
- |
- |
- |
|
Other Operating Expense |
7.0 |
3.8 |
- |
- |
- |
|
Other, Net |
-12.2 |
-23.9 |
- |
- |
- |
|
Other Operating Expenses, Total |
-5.2 |
-20.1 |
- |
- |
- |
|
Total Operating Expense |
4,144.8 |
2,727.6 |
2,167.1 |
2,309.2 |
3,024.4 |
|
|
|
|
|
|
|
|
Operating Income |
870.5 |
591.7 |
328.3 |
495.4 |
604.8 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-13.5 |
-14.7 |
-15.1 |
-38.5 |
-58.7 |
|
Interest Expense, Net Non-Operating |
-13.5 |
-14.7 |
-15.1 |
-38.5 |
-58.7 |
|
Interest Income -
Non-Operating |
24.0 |
19.7 |
21.7 |
34.2 |
24.4 |
|
Investment Income -
Non-Operating |
-1.6 |
31.6 |
77.2 |
-172.7 |
62.7 |
|
Interest/Investment Income - Non-Operating |
22.4 |
51.3 |
99.0 |
-138.5 |
87.0 |
|
Interest Income (Expense) - Net Non-Operating |
0.0 |
0.0 |
- |
- |
- |
|
Interest Income (Expense) - Net Non-Operating Total |
8.9 |
36.6 |
83.9 |
-177.1 |
28.3 |
|
Gain (Loss) on Sale of Assets |
- |
- |
1.7 |
-0.9 |
-1.6 |
|
Other Non-Operating Income (Expense) |
0.2 |
0.0 |
10.3 |
18.4 |
6.4 |
|
Other, Net |
0.2 |
0.0 |
10.3 |
18.4 |
6.4 |
|
Income Before Tax |
879.6 |
628.3 |
424.2 |
335.9 |
637.9 |
|
|
|
|
|
|
|
|
Total Income Tax |
235.4 |
148.7 |
96.4 |
72.7 |
175.6 |
|
Income After Tax |
644.2 |
479.6 |
327.8 |
263.2 |
462.3 |
|
|
|
|
|
|
|
|
Minority Interest |
-8.2 |
-4.9 |
-2.7 |
-6.4 |
-8.7 |
|
Net Income Before Extraord Items |
636.0 |
474.7 |
325.2 |
256.8 |
453.6 |
|
Net Income |
636.0 |
474.7 |
325.2 |
256.8 |
453.6 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
636.0 |
474.7 |
325.2 |
256.8 |
453.6 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
636.0 |
474.7 |
325.2 |
256.8 |
453.6 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
17.7 |
17.7 |
17.7 |
17.7 |
17.7 |
|
Basic EPS Excl Extraord Items |
35.99 |
26.86 |
18.40 |
14.53 |
25.70 |
|
Basic/Primary EPS Incl Extraord Items |
35.99 |
26.86 |
18.40 |
14.53 |
25.70 |
|
Diluted Net Income |
636.0 |
474.7 |
325.2 |
256.8 |
453.6 |
|
Diluted Weighted Average Shares |
17.7 |
17.7 |
17.7 |
17.7 |
17.7 |
|
Diluted EPS Excl Extraord Items |
35.99 |
26.86 |
18.40 |
14.53 |
25.70 |
|
Diluted EPS Incl Extraord Items |
35.99 |
26.86 |
18.40 |
14.53 |
25.70 |
|
Dividends per Share - Common Stock Primary Issue |
4.51 |
2.16 |
1.72 |
1.82 |
2.15 |
|
Gross Dividends - Common Stock |
79.8 |
38.2 |
30.5 |
32.1 |
38.0 |
|
Interest Expense, Supplemental |
13.5 |
14.7 |
15.1 |
38.5 |
58.7 |
|
Depreciation, Supplemental |
99.9 |
76.1 |
115.2 |
124.8 |
109.4 |
|
Total Special Items |
2.4 |
5.9 |
-1.3 |
0.9 |
1.6 |
|
Normalized Income Before Tax |
882.0 |
634.1 |
422.9 |
336.7 |
639.5 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.6 |
1.4 |
-0.4 |
0.2 |
0.4 |
|
Inc Tax Ex Impact of Sp Items |
236.0 |
150.1 |
96.0 |
72.9 |
176.0 |
|
Normalized Income After Tax |
646.0 |
484.1 |
326.9 |
263.9 |
463.4 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
637.8 |
479.1 |
324.2 |
257.4 |
454.7 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
36.08 |
27.11 |
18.34 |
14.57 |
25.76 |
|
Diluted Normalized EPS |
36.08 |
27.11 |
18.34 |
14.57 |
25.76 |
|
Amort of Acquisition Costs, Supplemental |
- |
- |
0.4 |
- |
- |
|
Amort of Intangibles, Supplemental |
0.8 |
0.6 |
0.9 |
0.2 |
0.2 |
|
Rental Expenses |
2.1 |
1.8 |
2.0 |
1.6 |
1.5 |
|
Advertising Expense, Supplemental |
0.3 |
0.3 |
17.2 |
0.2 |
0.2 |
|
Research & Development Exp, Supplemental |
- |
- |
0.8 |
- |
0.0 |
|
Normalized EBIT |
875.0 |
580.3 |
328.3 |
495.4 |
604.8 |
|
Normalized EBITDA |
975.6 |
657.0 |
444.7 |
620.4 |
714.4 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1152 |
1134.9 |
1164.475 |
1259.55 |
936.05 |
|
Auditor |
KPMG LLP |
KPMG LLP |
KPMG LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
722.2 |
334.2 |
145.3 |
261.7 |
196.9 |
|
Short Term Investments |
376.2 |
373.3 |
360.8 |
369.7 |
742.2 |
|
Cash and Short Term Investments |
1,098.3 |
707.4 |
506.0 |
631.4 |
939.1 |
|
Accounts Receivable -
Trade, Gross |
190.8 |
198.1 |
149.5 |
79.5 |
160.7 |
|
Provision for Doubtful
Accounts |
-0.7 |
-0.6 |
-1.2 |
-1.1 |
-0.9 |
|
Trade Accounts Receivable - Net |
193.3 |
197.8 |
148.9 |
79.6 |
161.0 |
|
Other Receivables |
33.3 |
32.8 |
26.0 |
32.0 |
39.6 |
|
Total Receivables, Net |
226.5 |
230.6 |
174.9 |
111.6 |
200.6 |
|
Inventories - Finished Goods |
194.9 |
304.7 |
114.1 |
78.1 |
178.4 |
|
Inventories - Work In Progress |
212.1 |
98.1 |
201.1 |
76.0 |
123.8 |
|
Inventories - Raw Materials |
309.3 |
391.4 |
401.9 |
129.9 |
223.5 |
|
Inventories - Other |
50.3 |
48.1 |
19.6 |
25.4 |
18.2 |
|
Total Inventory |
766.6 |
842.4 |
736.7 |
309.3 |
543.9 |
|
Prepaid Expenses |
7.6 |
2.8 |
2.8 |
1.1 |
1.3 |
|
Deferred Income Tax - Current Asset |
- |
- |
0.3 |
7.5 |
0.5 |
|
Other Current Assets |
17.7 |
18.2 |
28.2 |
6.3 |
27.4 |
|
Other Current Assets, Total |
17.7 |
18.2 |
28.5 |
13.8 |
27.9 |
|
Total Current Assets |
2,116.8 |
1,801.4 |
1,449.0 |
1,067.3 |
1,712.9 |
|
|
|
|
|
|
|
|
Buildings |
475.4 |
444.9 |
346.1 |
283.0 |
330.5 |
|
Land/Improvements |
134.0 |
84.8 |
90.1 |
81.7 |
107.9 |
|
Machinery/Equipment |
1,806.5 |
1,670.0 |
1,506.3 |
1,245.8 |
1,354.2 |
|
Construction in
Progress |
53.2 |
81.6 |
62.3 |
68.4 |
49.8 |
|
Other
Property/Plant/Equipment |
2.0 |
2.0 |
- |
- |
- |
|
Property/Plant/Equipment - Gross |
2,471.1 |
2,283.5 |
2,004.8 |
1,678.8 |
1,842.5 |
|
Accumulated Depreciation |
-1,123.1 |
-1,042.6 |
-952.7 |
-783.5 |
-852.2 |
|
Property/Plant/Equipment - Net |
1,348.0 |
1,240.9 |
1,052.1 |
895.3 |
990.3 |
|
Goodwill, Net |
11.9 |
11.9 |
0.9 |
- |
- |
|
Intangibles, Net |
56.9 |
47.5 |
8.0 |
0.5 |
0.9 |
|
LT Investment - Affiliate Companies |
42.4 |
44.8 |
44.6 |
31.2 |
22.3 |
|
LT Investments - Other |
368.8 |
328.8 |
186.9 |
118.4 |
328.8 |
|
Long Term Investments |
411.2 |
373.6 |
231.5 |
149.6 |
351.1 |
|
Note Receivable - Long Term |
46.8 |
7.5 |
1.7 |
0.1 |
- |
|
Deferred Income Tax - Long Term Asset |
0.9 |
0.7 |
3.2 |
5.6 |
- |
|
Other Long Term Assets |
6.0 |
18.1 |
15.4 |
9.0 |
24.0 |
|
Other Long Term Assets, Total |
6.9 |
18.8 |
18.5 |
14.6 |
24.0 |
|
Total Assets |
3,998.4 |
3,501.6 |
2,761.8 |
2,127.5 |
3,079.1 |
|
|
|
|
|
|
|
|
Accounts Payable |
130.7 |
226.4 |
225.5 |
49.6 |
102.8 |
|
Accrued Expenses |
21.1 |
14.7 |
8.0 |
9.5 |
17.0 |
|
Notes Payable/Short Term Debt |
52.5 |
133.7 |
124.4 |
39.9 |
482.5 |
|
Current Portion - Long Term Debt/Capital Leases |
210.5 |
8.3 |
33.5 |
116.0 |
137.6 |
|
Customer Advances |
0.2 |
0.2 |
0.1 |
8.0 |
0.4 |
|
Income Taxes Payable |
143.0 |
77.4 |
38.0 |
35.8 |
111.8 |
|
Other Payables |
29.9 |
35.2 |
25.2 |
18.9 |
14.7 |
|
Deferred Income Tax - Current Liability |
- |
- |
2.2 |
0.0 |
- |
|
Other Current Liabilities |
7.8 |
10.4 |
23.3 |
23.4 |
12.0 |
|
Other Current liabilities, Total |
180.9 |
123.2 |
88.8 |
86.1 |
139.0 |
|
Total Current Liabilities |
595.8 |
506.4 |
480.1 |
301.1 |
878.9 |
|
|
|
|
|
|
|
|
Long Term Debt |
154.5 |
351.5 |
252.1 |
271.2 |
319.5 |
|
Total Long Term Debt |
154.5 |
351.5 |
252.1 |
271.2 |
319.5 |
|
Total Debt |
417.5 |
493.5 |
409.9 |
427.1 |
939.7 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
176.6 |
135.6 |
63.5 |
26.5 |
89.4 |
|
Deferred Income Tax |
176.6 |
135.6 |
63.5 |
26.5 |
89.4 |
|
Minority Interest |
104.5 |
85.9 |
81.4 |
51.0 |
48.9 |
|
Reserves |
12.7 |
8.3 |
- |
- |
- |
|
Pension Benefits - Underfunded |
7.4 |
17.7 |
9.5 |
8.2 |
10.3 |
|
Other Long Term Liabilities |
4.2 |
5.4 |
4.8 |
48.1 |
11.5 |
|
Other Liabilities, Total |
24.3 |
31.4 |
14.3 |
56.3 |
21.9 |
|
Total Liabilities |
1,055.6 |
1,110.7 |
891.5 |
706.1 |
1,358.5 |
|
|
|
|
|
|
|
|
Common Stock |
81.9 |
83.1 |
81.0 |
74.9 |
100.8 |
|
Common Stock |
81.9 |
83.1 |
81.0 |
74.9 |
100.8 |
|
Additional Paid-In Capital |
3.0 |
1.7 |
218.1 |
195.5 |
260.9 |
|
Retained Earnings (Accumulated Deficit) |
2,817.3 |
2,274.4 |
1,561.3 |
1,141.4 |
1,271.7 |
|
Treasury Stock - Common |
36.1 |
36.7 |
2.7 |
2.5 |
3.3 |
|
Unrealized Gain (Loss) |
41.2 |
40.1 |
-4.0 |
-26.5 |
125.5 |
|
Translation Adjustment |
-1.6 |
-9.4 |
18.5 |
33.6 |
-41.6 |
|
Other Equity |
-35.2 |
-35.7 |
-7.4 |
- |
- |
|
Other Comprehensive Income |
0.0 |
0.0 |
- |
- |
- |
|
Other Equity, Total |
-36.7 |
-45.1 |
11.1 |
33.6 |
-41.6 |
|
Total Equity |
2,942.8 |
2,390.9 |
1,870.3 |
1,421.3 |
1,720.6 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
3,998.4 |
3,501.6 |
2,761.8 |
2,127.5 |
3,079.1 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
17.7 |
17.7 |
17.7 |
17.7 |
17.7 |
|
Total Common Shares Outstanding |
17.7 |
17.7 |
17.7 |
17.7 |
17.7 |
|
Treasury Shares - Common Stock Primary Issue |
1.2 |
1.2 |
1.2 |
1.2 |
1.2 |
|
Employees |
1,025 |
950 |
897 |
850 |
841 |
|
Number of Common Shareholders |
- |
43,645 |
13,018 |
21,918 |
29,375 |
|
Accumulated Intangible Amort, Suppl. |
9.2 |
7.7 |
- |
- |
- |
|
Deferred Revenue - Current |
0.2 |
0.2 |
0.1 |
8.0 |
0.4 |
|
Total Long Term Debt, Supplemental |
215.4 |
210.6 |
286.5 |
347.7 |
199.7 |
|
Long Term Debt Maturing within 1 Year |
160.8 |
8.3 |
33.5 |
83.7 |
17.3 |
|
Long Term Debt Maturing in Year 2 |
12.3 |
161.6 |
8.1 |
33.1 |
143.4 |
|
Long Term Debt Maturing in Year 3 |
10.1 |
12.1 |
210.2 |
7.9 |
8.5 |
|
Long Term Debt Maturing in Year 4 |
8.2 |
10.2 |
10.7 |
207.3 |
7.7 |
|
Long Term Debt Maturing in Year 5 |
8.1 |
6.6 |
9.7 |
- |
- |
|
Long Term Debt Maturing in 2-3 Years |
22.4 |
173.7 |
218.3 |
41.0 |
152.0 |
|
Long Term Debt Maturing in 4-5 Years |
16.3 |
16.8 |
20.4 |
207.3 |
7.7 |
|
Long Term Debt Matur. in Year 6 & Beyond |
15.9 |
11.8 |
14.2 |
15.7 |
22.8 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
|
Auditor |
KPMG LLP |
KPMG LLP |
KPMG LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
644.2 |
479.6 |
327.8 |
263.2 |
462.3 |
|
Depreciation |
99.9 |
76.1 |
115.2 |
124.8 |
109.4 |
|
Depreciation/Depletion |
99.9 |
76.1 |
115.2 |
124.8 |
109.4 |
|
Amortization of Intangibles |
0.8 |
0.6 |
1.3 |
0.2 |
0.2 |
|
Amortization |
0.8 |
0.6 |
1.3 |
0.2 |
0.2 |
|
Deferred Taxes |
- |
- |
41.4 |
-28.4 |
26.9 |
|
Unusual Items |
3.6 |
-9.1 |
-6.3 |
91.8 |
-44.7 |
|
Equity in Net Earnings (Loss) |
3.2 |
4.3 |
-1.0 |
-4.7 |
-5.7 |
|
Other Non-Cash Items |
239.1 |
129.8 |
-37.2 |
79.9 |
-3.1 |
|
Non-Cash Items |
245.9 |
125.0 |
-44.6 |
167.0 |
-53.5 |
|
Accounts Receivable |
-6.5 |
-29.2 |
-53.3 |
48.3 |
36.1 |
|
Inventories |
67.2 |
-66.8 |
-372.1 |
132.0 |
-15.5 |
|
Prepaid Expenses |
-4.1 |
0.2 |
-1.6 |
0.0 |
0.1 |
|
Other Assets |
0.0 |
-0.4 |
33.3 |
45.3 |
-0.9 |
|
Accounts Payable |
-95.8 |
-2.7 |
165.3 |
-33.1 |
-107.9 |
|
Accrued Expenses |
4.7 |
1.0 |
-1.9 |
-6.1 |
1.5 |
|
Taxes Payable |
- |
- |
-0.6 |
-55.1 |
24.4 |
|
Other Liabilities |
-11.4 |
-5.3 |
-61.8 |
-22.2 |
4.0 |
|
Other Assets & Liabilities, Net |
- |
0.0 |
- |
- |
- |
|
Other Operating Cash Flow |
-124.1 |
-52.1 |
0.4 |
- |
- |
|
Changes in Working Capital |
-170.0 |
-155.2 |
-292.3 |
109.0 |
-58.2 |
|
Cash from Operating Activities |
820.8 |
526.1 |
148.8 |
635.9 |
487.1 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-227.5 |
-283.3 |
-214.3 |
-196.6 |
-245.5 |
|
Purchase/Acquisition of Intangibles |
-11.3 |
-4.6 |
-4.5 |
0.0 |
0.0 |
|
Capital Expenditures |
-238.8 |
-287.9 |
-218.8 |
-196.6 |
-245.5 |
|
Sale of Fixed Assets |
0.1 |
17.2 |
0.5 |
0.2 |
0.1 |
|
Sale/Maturity of Investment |
458.7 |
388.3 |
503.2 |
1,162.9 |
952.6 |
|
Purchase of Investments |
-476.5 |
-642.7 |
-517.8 |
-1,027.3 |
-1,316.1 |
|
Sale of Intangible Assets |
0.8 |
1.7 |
0.0 |
- |
- |
|
Other Investing Cash Flow |
-38.7 |
84.3 |
-2.3 |
-2.7 |
10.4 |
|
Other Investing Cash Flow Items, Total |
-55.6 |
-151.2 |
-16.4 |
133.2 |
-353.0 |
|
Cash from Investing Activities |
-294.4 |
-439.1 |
-235.2 |
-63.5 |
-598.5 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-8.5 |
-13.6 |
-3.6 |
-126.1 |
-15.2 |
|
Financing Cash Flow Items |
-8.5 |
-13.6 |
-3.6 |
-126.1 |
-15.2 |
|
Cash Dividends Paid - Common |
-41.2 |
-35.2 |
-28.9 |
-32.1 |
-28.2 |
|
Total Cash Dividends Paid |
-41.2 |
-35.2 |
-28.9 |
-32.1 |
-28.2 |
|
Sale/Issuance of
Common |
- |
0.2 |
7.8 |
- |
22.6 |
|
Repurchase/Retirement
of Common |
- |
- |
- |
- |
-4.2 |
|
Common Stock, Net |
- |
0.2 |
7.8 |
- |
18.5 |
|
Issuance (Retirement) of Stock, Net |
- |
0.2 |
7.8 |
- |
18.5 |
|
Short Term Debt Issued |
268.4 |
222.1 |
105.7 |
683.7 |
250.2 |
|
Short Term Debt
Reduction |
-354.3 |
-249.0 |
-28.0 |
-1,059.9 |
-26.8 |
|
Short Term Debt, Net |
-85.9 |
-26.9 |
77.7 |
-376.2 |
223.4 |
|
Long Term Debt Issued |
14.4 |
105.1 |
59.3 |
76.9 |
190.0 |
|
Long Term Debt
Reduction |
- |
- |
-148.6 |
-0.4 |
-217.7 |
|
Long Term Debt, Net |
14.4 |
105.1 |
-89.3 |
76.5 |
-27.7 |
|
Issuance (Retirement) of Debt, Net |
-71.5 |
78.2 |
-11.5 |
-299.7 |
195.8 |
|
Cash from Financing Activities |
-121.2 |
29.6 |
-36.2 |
-458.0 |
170.9 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
2.9 |
-0.9 |
-3.0 |
17.6 |
1.2 |
|
Net Change in Cash |
408.0 |
115.6 |
-125.6 |
132.0 |
60.7 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
317.2 |
188.3 |
258.2 |
167.4 |
137.6 |
|
Net Cash - Ending Balance |
725.2 |
303.9 |
132.7 |
299.5 |
198.3 |
|
Cash Interest Paid |
14.4 |
14.9 |
- |
- |
- |
|
Cash Taxes Paid |
132.9 |
58.0 |
- |
- |
- |
Annual Income Statement
Financials in: USD (mil),
Except for share items (millions) and per share items (actual units),
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
|
Auditor |
KPMG LLP |
KPMG LLP |
KPMG LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Sales Revenue |
5,015.3 |
3,319.3 |
2,495.4 |
2,804.6 |
3,629.2 |
|
Total Revenue |
5,015.3 |
3,319.3 |
2,495.4 |
2,804.6 |
3,629.2 |
|
|
|
|
|
|
|
|
Costs of Goods and Services Sold |
4,023.9 |
2,659.7 |
2,080.5 |
2,230.7 |
2,964.3 |
|
Exec/Off. Salary |
- |
- |
2.8 |
5.6 |
6.3 |
|
Salaries and Wages |
19.4 |
19.1 |
11.7 |
7.6 |
6.5 |
|
Wages |
- |
- |
0.1 |
0.2 |
0.2 |
|
Bonuses |
- |
- |
1.4 |
1.4 |
1.6 |
|
Retirement and Severance Benefits |
1.6 |
1.8 |
1.1 |
2.2 |
1.7 |
|
Employee Benefits |
1.4 |
1.4 |
1.0 |
1.1 |
1.0 |
|
Travel Expenses |
1.8 |
1.6 |
1.6 |
1.3 |
1.1 |
|
Communication Expenses |
0.5 |
0.4 |
0.3 |
0.3 |
0.3 |
|
Taxes and Dues |
1.3 |
1.6 |
0.5 |
0.6 |
1.1 |
|
Repair Expenses |
0.3 |
0.4 |
0.0 |
0.0 |
0.0 |
|
Insurance Expenses |
0.4 |
0.5 |
0.3 |
0.4 |
0.4 |
|
Entertainment |
0.9 |
0.7 |
0.6 |
0.8 |
0.8 |
|
Shipping and Handling Expenses |
60.9 |
49.9 |
26.1 |
34.0 |
25.4 |
|
Consumable Expense |
0.3 |
0.2 |
0.2 |
0.1 |
0.2 |
|
Publishing Expenses |
- |
- |
0.2 |
0.1 |
0.1 |
|
Education & Training |
0.2 |
0.2 |
0.1 |
0.1 |
0.1 |
|
Vehicle Maintenance Expenses |
0.7 |
0.8 |
0.7 |
0.7 |
0.8 |
|
Commission Paid |
- |
- |
10.2 |
12.9 |
4.5 |
|
Expenses of Allowance for Doubtful Accou |
0.3 |
0.8 |
0.0 |
2.4 |
0.4 |
|
Other Exporting Related Expense |
- |
- |
0.6 |
0.8 |
0.7 |
|
Publication Expenses |
0.1 |
0.1 |
- |
- |
- |
|
Utility Expenses |
- |
- |
0.2 |
0.2 |
0.2 |
|
Expenses for Samples |
- |
- |
0.0 |
0.0 |
0.0 |
|
Research & Development Expense |
- |
- |
0.8 |
- |
0.0 |
|
Explore Expense |
3.4 |
0.2 |
- |
- |
- |
|
Miscellaneous Operating Expense |
- |
- |
3.5 |
1.8 |
2.9 |
|
Commissions |
17.3 |
11.5 |
- |
- |
- |
|
Electricity Expense |
0.1 |
0.2 |
- |
- |
- |
|
Office Supplies Expenses |
- |
- |
0.0 |
0.5 |
0.4 |
|
Association Expenses |
- |
- |
0.0 |
0.0 |
0.0 |
|
Rental Expenses |
2.1 |
1.8 |
2.0 |
1.6 |
1.5 |
|
Advertising Expense |
0.3 |
0.3 |
17.2 |
0.2 |
0.2 |
|
Depreciation |
1.8 |
2.4 |
2.5 |
1.3 |
1.2 |
|
Amortization of Intangible Assets |
0.8 |
0.6 |
0.7 |
0.0 |
0.0 |
|
Miscellaneous Expenses |
1.5 |
2.7 |
- |
- |
- |
|
China Management Expense |
- |
- |
0.3 |
0.2 |
0.3 |
|
Adjustment for Selling and Administrativ |
0.0 |
0.0 |
- |
- |
- |
|
Gain on Foreign Currency Transactions |
-59.7 |
-51.8 |
- |
- |
- |
|
Gain on Foreign Currency Translation |
-0.8 |
-3.0 |
- |
- |
- |
|
Gain on Disposal of Property, Plant and |
0.0 |
-0.4 |
- |
- |
- |
|
Gain on Disposal of Investment in Real E |
- |
-0.4 |
- |
- |
- |
|
Gain on Disposal of Intangible Assets |
-0.6 |
-0.9 |
- |
- |
- |
|
Commission Income |
-3.4 |
-6.5 |
- |
- |
- |
|
Rental Income |
-0.7 |
- |
- |
- |
- |
|
Reversal of Allowance for Doubtful Accou |
0.0 |
-0.7 |
- |
- |
- |
|
Gain on Disposal of Investments Stock in |
-1.2 |
-2.3 |
- |
- |
- |
|
Miscellaneous Income |
-8.1 |
-16.7 |
- |
- |
- |
|
Adjustment for Other Operating Income |
0.0 |
- |
- |
- |
- |
|
Loss on Foreign Currency Transactions |
57.6 |
37.1 |
- |
- |
- |
|
Loss on Foreign Currency Translation |
5.2 |
2.8 |
- |
- |
- |
|
Loss on Disposal of Property, Plant and |
2.5 |
3.3 |
- |
- |
- |
|
Impairment Loss on Property, Plant and E |
- |
0.3 |
- |
- |
- |
|
Loss on Disposal of Investment in Real E |
- |
0.3 |
- |
- |
- |
|
Donations Paid |
2.3 |
1.4 |
- |
- |
- |
|
Loss on Disposal of Intangible Assets |
0.0 |
0.1 |
- |
- |
- |
|
Impairment Loss on Intangible Assets |
0.5 |
3.4 |
- |
- |
- |
|
Provision for Restoration |
4.1 |
- |
- |
- |
- |
|
Loss on Disposal of Investment in Subsid |
1.1 |
- |
- |
- |
- |
|
Miscellaneous Loss |
4.7 |
2.4 |
- |
- |
- |
|
Adjustment for Other Operating Expense |
0.0 |
- |
- |
- |
- |
|
Total Operating Expense |
4,144.8 |
2,727.6 |
2,167.1 |
2,309.2 |
3,024.4 |
|
|
|
|
|
|
|
|
Interest Income |
24.0 |
19.7 |
21.7 |
34.2 |
24.4 |
|
Dividend Income |
0.8 |
1.0 |
2.2 |
2.4 |
5.2 |
|
Gain on Disosal of Investment in Subsidi |
0.9 |
1.8 |
- |
- |
- |
|
Gain on Disposal of Financial Instrument |
1.7 |
2.0 |
- |
- |
- |
|
Gain on Value of Financial Instruments a |
5.7 |
11.3 |
- |
- |
- |
|
G-ST Marketable Secs. Disposal |
- |
- |
5.6 |
2.1 |
23.8 |
|
Gain on Valuations of Derivatives |
0.0 |
3.0 |
43.6 |
8.2 |
19.7 |
|
Gain on Derivatives Transaction |
10.7 |
28.7 |
14.6 |
75.6 |
2.5 |
|
G-ST Secs for Sale Valuation |
- |
- |
4.3 |
2.9 |
9.6 |
|
Gain on Disp Inv Sec |
- |
- |
0.6 |
1.1 |
29.3 |
|
Gain on Foreign Currency Transactions |
8.6 |
7.1 |
46.5 |
72.4 |
14.2 |
|
Gain on Foreign Currency Translations |
1.7 |
3.7 |
6.1 |
3.7 |
0.7 |
|
Gain on Disposal of Financial Instrument |
1.7 |
2.9 |
- |
- |
0.1 |
|
Gain-Transfer of Business |
- |
- |
2.8 |
- |
- |
|
Gain-Disposal of Tangible Assets |
- |
- |
0.1 |
0.1 |
0.0 |
|
Recovery of Loss on Reduction of Financi |
0.2 |
0.0 |
- |
- |
0.0 |
|
Recapture Doubt Acct |
- |
- |
- |
- |
0.0 |
|
Fees Received |
- |
- |
0.0 |
0.5 |
- |
|
Other Non-Op. Income |
- |
- |
13.1 |
19.4 |
10.2 |
|
Adjustment for Finance Income |
- |
0.0 |
- |
- |
- |
|
Interest Expenses |
-13.5 |
-14.7 |
-15.1 |
-38.5 |
-58.7 |
|
Loss on Foreign Currency Transactions |
-7.8 |
-3.5 |
-34.8 |
-147.8 |
-12.5 |
|
Loss on Foreign Currency Translations |
-5.7 |
-1.1 |
-0.9 |
-46.4 |
-10.3 |
|
L-ST Stocks Disposal |
- |
- |
-2.1 |
-76.9 |
-4.3 |
|
Loss on Disposal of Financial Instrument |
-0.8 |
-2.0 |
- |
- |
- |
|
Loss on Value of Financial Instruments a |
-4.8 |
-1.0 |
- |
- |
- |
|
Loss on Disposal of Financial Instrument |
-2.5 |
-0.5 |
-0.6 |
-14.7 |
-0.1 |
|
Loss on Derivative Transaction |
-1.3 |
-9.9 |
-4.3 |
-16.2 |
-6.7 |
|
Loss on Valuation of Other Derivatives |
-3.9 |
-5.9 |
-4.3 |
-37.4 |
-0.5 |
|
L-ST Stocks Valuation |
- |
- |
- |
-1.8 |
-7.4 |
|
Impairment Loss on Financial Instruments |
-1.2 |
- |
-0.3 |
-3.6 |
-4.8 |
|
Loss on Disosal of Investment in Subsidi |
-2.2 |
-1.8 |
- |
- |
- |
|
Loss Disp Tang. Ast |
- |
- |
-1.3 |
-1.0 |
-1.6 |
|
Loss-Disposal of Accounts Receivable |
- |
- |
0.0 |
0.0 |
0.0 |
|
Fee & Commission Paid |
- |
- |
0.0 |
-0.6 |
-2.7 |
|
Loss-Insurance Settlement |
- |
- |
0.0 |
- |
- |
|
Donations Paid |
- |
- |
-1.0 |
-0.8 |
-0.6 |
|
Miscellaneous Exp. |
- |
- |
-1.7 |
0.0 |
-0.5 |
|
Adjustment for Finance Expense |
0.0 |
0.0 |
- |
- |
- |
|
Loss under Equity Method |
-4.5 |
-5.1 |
-0.2 |
- |
- |
|
Gain under Equity Method |
1.2 |
0.8 |
1.3 |
3.8 |
4.1 |
|
Net Income Before Taxes |
879.6 |
628.3 |
424.2 |
335.9 |
637.9 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
235.4 |
148.7 |
96.4 |
72.7 |
175.6 |
|
Net Income After Taxes |
644.2 |
479.6 |
327.8 |
263.2 |
462.3 |
|
|
|
|
|
|
|
|
Minority Interest |
-8.2 |
-4.9 |
-2.7 |
-6.4 |
-8.7 |
|
Net Income Before Extra. Items |
636.0 |
474.7 |
325.2 |
256.8 |
453.6 |
|
Net Income |
636.0 |
474.7 |
325.2 |
256.8 |
453.6 |
|
|
|
|
|
|
|
|
Income Available to Com Excl E |
636.0 |
474.7 |
325.2 |
256.8 |
453.6 |
|
|
|
|
|
|
|
|
Income Available to Com Incl E |
636.0 |
474.7 |
325.2 |
256.8 |
453.6 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
17.7 |
17.7 |
17.7 |
17.7 |
17.7 |
|
Basic EPS Excluding ExtraOrdin |
35.99 |
26.86 |
18.40 |
14.53 |
25.70 |
|
Basic EPS Including ExtraOrdin |
35.99 |
26.86 |
18.40 |
14.53 |
25.70 |
|
Diluted Net Income |
636.0 |
474.7 |
325.2 |
256.8 |
453.6 |
|
Diluted Weighted Average Share |
17.7 |
17.7 |
17.7 |
17.7 |
17.7 |
|
Diluted EPS Excluding ExtraOrd |
35.99 |
26.86 |
18.40 |
14.53 |
25.70 |
|
Diluted EPS Including ExtraOrd |
35.99 |
26.86 |
18.40 |
14.53 |
25.70 |
|
DPS-Common Stock |
4.51 |
2.16 |
1.72 |
1.82 |
2.15 |
|
Gross Dividends - Common Stock |
79.8 |
38.2 |
30.5 |
32.1 |
38.0 |
|
Normalized Income Before Taxes |
882.0 |
634.1 |
422.9 |
336.7 |
639.5 |
|
|
|
|
|
|
|
|
Inc Tax Ex. Impact of Sp Items |
236.0 |
150.1 |
96.0 |
72.9 |
176.0 |
|
Normalized Income After Taxes |
646.0 |
484.1 |
326.9 |
263.9 |
463.4 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
637.8 |
479.1 |
324.2 |
257.4 |
454.7 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
36.08 |
27.11 |
18.34 |
14.57 |
25.76 |
|
Diluted Normalized EPS |
36.08 |
27.11 |
18.34 |
14.57 |
25.76 |
|
Interest Expense |
13.5 |
14.7 |
15.1 |
38.5 |
58.7 |
|
Rental Expense |
2.1 |
1.8 |
2.0 |
1.6 |
1.5 |
|
Advertising Expense |
0.3 |
0.3 |
17.2 |
0.2 |
0.2 |
|
R&D Expense, Supplemental |
- |
- |
0.8 |
- |
0.0 |
|
Amort of Acquisition Costs, Su |
- |
- |
0.4 |
- |
- |
|
Amort of Intangibles, Suppleme |
0.8 |
0.6 |
0.9 |
0.2 |
0.2 |
|
Depreciation |
99.9 |
76.1 |
115.2 |
124.8 |
109.4 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1152 |
1134.9 |
1164.475 |
1259.55 |
936.05 |
|
Auditor |
KPMG LLP |
KPMG LLP |
KPMG LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Cash Equivalents |
697.4 |
309.6 |
145.3 |
261.7 |
196.9 |
|
Current Court Receivership Deposits |
24.8 |
24.5 |
- |
- |
- |
|
ST Financial Assets |
- |
- |
101.4 |
118.0 |
48.6 |
|
Current Investment Assets |
376.2 |
373.3 |
251.6 |
251.6 |
684.0 |
|
Secs for Sale |
- |
- |
5.8 |
0.0 |
9.6 |
|
Secs-Maturity |
- |
- |
2.0 |
- |
- |
|
Derivatives |
17.7 |
18.2 |
22.0 |
5.2 |
26.5 |
|
ST Loans |
- |
- |
1.2 |
0.8 |
1.1 |
|
Current Loans to Employees |
0.9 |
0.9 |
- |
- |
- |
|
Trade Rcvbls,G |
190.8 |
198.1 |
149.5 |
79.5 |
160.7 |
|
Allowance for Doubtful Accounts for Trad |
-0.7 |
-0.6 |
-1.2 |
-1.1 |
-0.9 |
|
Account Receivables |
32.4 |
31.9 |
24.7 |
31.2 |
38.6 |
|
Receivable-Recovery of Taxes |
- |
- |
0.1 |
- |
- |
|
Adjustment for Trade & Other Receivables |
- |
0.0 |
- |
- |
- |
|
Deferred Income Taxes-Debit, Current |
- |
- |
0.3 |
7.5 |
0.5 |
|
Advance Payments |
0.6 |
1.1 |
0.7 |
6.3 |
3.6 |
|
Prepaid VAT |
- |
- |
0.1 |
0.0 |
- |
|
Prepaid Expenses |
7.6 |
2.7 |
2.6 |
1.1 |
1.3 |
|
Prepaid Income Taxes |
0.0 |
0.0 |
- |
- |
- |
|
Accrued Income |
3.2 |
0.4 |
0.6 |
1.2 |
1.2 |
|
Other Quick Asst |
- |
- |
6.2 |
1.2 |
0.9 |
|
Adjustment for Other Current Assets |
0.0 |
0.0 |
- |
- |
- |
|
Merchandise |
3.1 |
4.1 |
3.4 |
1.4 |
0.3 |
|
Finished Goods |
188.7 |
296.6 |
108.1 |
74.2 |
175.9 |
|
Semi-finished Goods |
106.5 |
11.5 |
85.5 |
- |
- |
|
Works in Process |
105.6 |
86.6 |
115.7 |
76.0 |
123.8 |
|
Supplemental Raw Materials |
- |
- |
0.2 |
0.2 |
0.2 |
|
Raw Materials |
204.9 |
326.6 |
247.3 |
57.9 |
198.2 |
|
Raw Materials in Transit, Current |
104.4 |
64.8 |
- |
- |
- |
|
Supplies |
20.3 |
18.7 |
18.0 |
17.8 |
14.4 |
|
Mater In Transit |
- |
- |
154.4 |
71.8 |
25.2 |
|
Residual Products |
3.1 |
4.1 |
2.5 |
2.4 |
2.2 |
|
Other Inventories |
29.4 |
28.3 |
1.0 |
1.2 |
0.1 |
|
Adjustment for Inventories |
- |
- |
- |
- |
- |
|
Total Current Assets |
2,116.8 |
1,801.4 |
1,449.0 |
1,067.3 |
1,712.9 |
|
|
|
|
|
|
|
|
LT Financial Assets |
- |
- |
0.4 |
0.3 |
0.5 |
|
Non-Current Financial Deposits |
22.2 |
12.6 |
- |
- |
- |
|
Non-Current Investment Assets |
329.9 |
298.1 |
- |
- |
- |
|
Secs for Sale |
- |
- |
186.5 |
118.1 |
328.3 |
|
Securities Held to Maturities |
- |
- |
0.0 |
- |
- |
|
Investment in Properties |
16.7 |
18.0 |
- |
- |
- |
|
Investment in Affiliates |
42.4 |
44.8 |
44.6 |
31.2 |
22.3 |
|
Non-Current Trade Receivables |
- |
0.0 |
- |
- |
- |
|
Non-Current Other Receivables |
14.8 |
7.5 |
1.7 |
0.1 |
- |
|
Non-Current Loans |
31.9 |
- |
- |
- |
- |
|
Non-Current Loans to Employees |
0.0 |
- |
- |
- |
- |
|
Adjustment for Non-Current Trade & Other |
0.0 |
0.0 |
- |
- |
- |
|
Currency Futures, LT Assets |
- |
- |
3.0 |
- |
15.0 |
|
Derivative Assets, Non-Current |
1.0 |
14.7 |
- |
- |
- |
|
Guarantee Deposits, Non-Current Assets |
5.0 |
3.4 |
12.4 |
9.0 |
8.9 |
|
Non-Current Deferred Income Taxes Assets |
0.9 |
0.7 |
3.2 |
5.6 |
- |
|
Lands |
134.0 |
84.8 |
90.1 |
81.7 |
107.9 |
|
Buildings |
305.2 |
293.1 |
195.2 |
161.5 |
201.8 |
|
Buildings Depre. |
-84.2 |
-75.8 |
-53.5 |
-44.0 |
-52.2 |
|
Structures |
170.2 |
151.8 |
150.9 |
121.5 |
128.7 |
|
Structure Depre. |
-40.4 |
-35.6 |
-31.2 |
-25.8 |
-26.9 |
|
Tools & Equipments |
25.9 |
24.6 |
19.2 |
12.9 |
16.3 |
|
Tool/Equip Depr. |
-19.9 |
-19.3 |
-13.1 |
-10.3 |
-12.8 |
|
Machineries & Equipments |
1,771.9 |
1,637.9 |
1,483.0 |
1,228.0 |
1,332.0 |
|
Machineries & Equipments-Depreciation |
-971.8 |
-905.5 |
-851.7 |
-699.4 |
-755.9 |
|
Vehicles |
8.8 |
7.5 |
4.1 |
4.9 |
5.9 |
|
Vehicles-Depreciation |
-5.8 |
-5.6 |
-3.2 |
-4.0 |
-4.4 |
|
Other Property Plant & Equipment |
2.0 |
2.0 |
- |
- |
- |
|
Other Tangible Assets-Depreciation |
-0.9 |
-0.8 |
- |
- |
- |
|
Construc in Prog |
53.2 |
81.6 |
62.3 |
68.4 |
49.8 |
|
Adjustment for Property, Plant & Equipme |
- |
0.0 |
- |
- |
- |
|
Goodwill |
11.9 |
11.9 |
0.9 |
- |
- |
|
Membership Rights |
9.7 |
10.4 |
- |
- |
- |
|
Other Intangible Assets |
47.2 |
37.1 |
8.0 |
0.5 |
0.9 |
|
Adjustment for Intangible Assets |
0.0 |
0.0 |
- |
- |
- |
|
Total Assets |
3,998.4 |
3,501.6 |
2,761.8 |
2,127.5 |
3,079.1 |
|
|
|
|
|
|
|
|
Current Trade Payables |
130.7 |
226.4 |
225.5 |
49.6 |
102.8 |
|
Other Payables |
29.9 |
35.2 |
25.2 |
18.9 |
14.7 |
|
Adjustment for Current Trade & Other Pay |
0.0 |
0.0 |
- |
- |
- |
|
Current Tax Liabilities |
143.0 |
77.4 |
38.0 |
35.8 |
111.8 |
|
Accrued Expenses |
21.1 |
14.7 |
8.0 |
9.5 |
17.0 |
|
Advance from Customers, Current Liabilit |
0.2 |
0.2 |
0.1 |
7.6 |
0.0 |
|
Unearned Income |
- |
- |
- |
0.4 |
0.4 |
|
Withholdings |
2.2 |
1.9 |
2.0 |
3.1 |
8.0 |
|
Derivatives in Liabilities, Current |
5.6 |
8.5 |
16.4 |
17.6 |
0.9 |
|
Current Borrowings |
52.5 |
133.7 |
124.4 |
39.9 |
482.5 |
|
Current Port LTD |
160.6 |
8.3 |
13.5 |
16.2 |
57.6 |
|
Current Portion of Bonds |
49.8 |
- |
20.0 |
99.8 |
80.0 |
|
Other Cur Liabs. |
- |
- |
4.9 |
2.7 |
3.2 |
|
Deferred Income Tax Credits |
- |
- |
2.2 |
0.0 |
- |
|
Adjustment for Other Current Liabilities |
0.0 |
- |
- |
- |
- |
|
Total Current Liability |
595.8 |
506.4 |
480.1 |
301.1 |
878.9 |
|
|
|
|
|
|
|
|
Bonds |
99.9 |
149.6 |
50.1 |
68.8 |
119.8 |
|
LT Borrowings |
54.6 |
202.0 |
202.8 |
202.4 |
199.7 |
|
Discount on Issuance of Debentures |
- |
- |
-0.9 |
- |
- |
|
Total Long Term Debt |
154.5 |
351.5 |
252.1 |
271.2 |
319.5 |
|
|
|
|
|
|
|
|
Derivative Products in Liabilities |
- |
1.6 |
2.5 |
43.2 |
7.0 |
|
LT Account Payable |
- |
- |
0.1 |
- |
- |
|
Rental Secur Dep |
- |
- |
2.2 |
2.1 |
2.7 |
|
Other LT Liabs. |
- |
- |
- |
2.8 |
1.9 |
|
Non-Current Accrued Expenses |
1.9 |
1.4 |
- |
- |
- |
|
Guarantee Deposits Withholdings, Non-Cur |
2.3 |
2.4 |
- |
- |
- |
|
Deferred Income Taxes, Non-Current Liabi |
176.6 |
135.6 |
63.5 |
26.5 |
89.4 |
|
Non-Current Fixed Benefit Liabilities |
7.4 |
17.7 |
31.8 |
8.2 |
10.3 |
|
Deposit-Retirement Insurance |
- |
- |
-22.0 |
- |
- |
|
Transfer to National Pension Fund |
- |
- |
-0.2 |
- |
- |
|
Non-Current Provisions |
12.7 |
8.3 |
- |
- |
- |
|
Adjustment for Non-Current Trade & Other |
0.0 |
0.0 |
- |
- |
- |
|
Minority Interests |
104.5 |
85.9 |
81.4 |
51.0 |
48.9 |
|
Total Liabilities |
1,055.6 |
1,110.7 |
891.5 |
706.1 |
1,358.5 |
|
|
|
|
|
|
|
|
Common Stock |
81.9 |
83.1 |
81.0 |
74.9 |
100.8 |
|
Voluntary Reserve |
- |
- |
1,149.7 |
825.3 |
583.2 |
|
Legal Reserve |
- |
- |
22.2 |
17.7 |
21.1 |
|
Retained Earning Carried Forward |
- |
- |
389.4 |
298.4 |
667.5 |
|
Retained Earnings or Accumulated Deficit |
2,817.3 |
2,274.4 |
- |
- |
- |
|
Paid-in Capital in Excess of Par |
36.1 |
36.7 |
35.7 |
33.0 |
44.4 |
|
Other Capital Surplus |
3.0 |
1.7 |
218.1 |
195.5 |
260.9 |
|
Adjustment for Capital Surplus |
- |
0.0 |
- |
- |
- |
|
Capital Adjustment |
-46.4 |
-47.1 |
- |
- |
- |
|
Gains on Disposal of Treasury Stock |
11.3 |
11.5 |
- |
- |
- |
|
Consolidated Capital Adjustment |
- |
- |
-7.4 |
- |
- |
|
Capital Change, Equity Method |
0.7 |
0.8 |
0.4 |
1.8 |
2.5 |
|
Capital Change, Equity Method (Loss) |
- |
-0.1 |
- |
- |
- |
|
Gain-Valu. of Sec. Available for Sale |
- |
- |
7.2 |
14.7 |
121.9 |
|
Loss-Valu. of Sec. Available for Sale |
- |
- |
-6.1 |
-25.6 |
-1.9 |
|
Gain/Losses on Valuation of Securities A |
38.2 |
32.5 |
- |
- |
- |
|
Gain-Valuation of Derivatives |
- |
- |
- |
4.2 |
5.7 |
|
Loss-Valuation of Derivatives |
- |
- |
-5.5 |
-21.6 |
-2.7 |
|
Gain/Losses on Valuation of Derivatives- |
2.4 |
7.0 |
- |
- |
- |
|
Overseas Business Translation Credit |
- |
- |
18.5 |
33.6 |
- |
|
Overseas Business Translation Debit |
- |
- |
- |
- |
-41.6 |
|
Overseas Business Translation Debit/Cred |
-1.6 |
-9.4 |
- |
- |
- |
|
Adjustment for Accumulated Other Compreh |
0.0 |
0.0 |
- |
- |
- |
|
Treasury Stock |
- |
- |
-33.0 |
-30.5 |
-41.1 |
|
Total Equity |
2,942.8 |
2,390.9 |
1,870.3 |
1,421.3 |
1,720.6 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholde |
3,998.4 |
3,501.6 |
2,761.8 |
2,127.5 |
3,079.1 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
17.7 |
17.7 |
17.7 |
17.7 |
17.7 |
|
Total Common Shares Outstandin |
17.7 |
17.7 |
17.7 |
17.7 |
17.7 |
|
T/S-Common Stock |
1.2 |
1.2 |
1.2 |
1.2 |
1.2 |
|
Deferred Revenue, Current |
0.2 |
0.2 |
0.1 |
8.0 |
0.4 |
|
Accumulated Intangible Amort, Suppl. |
9.2 |
7.7 |
- |
- |
- |
|
Full-Time Employees |
1,025 |
950 |
897 |
850 |
841 |
|
Number of Common Shareholders |
- |
43,645 |
13,018 |
21,918 |
29,375 |
|
LT Debt Maturing within 1 Year |
160.8 |
8.3 |
33.5 |
83.7 |
17.3 |
|
LT Debt Maturing in 2 Years |
12.3 |
161.6 |
8.1 |
33.1 |
143.4 |
|
LT Debt Maturing in 3 Years |
10.1 |
12.1 |
210.2 |
7.9 |
8.5 |
|
LT Debt Maturing in 4 Years |
8.2 |
10.2 |
10.7 |
207.3 |
7.7 |
|
LT Debt Maturing in 5 Years |
8.1 |
6.6 |
9.7 |
- |
- |
|
LT Debt Remaining Maturing |
15.9 |
11.8 |
14.2 |
15.7 |
22.8 |
|
Total Long Term Debt, Supplemental |
215.4 |
210.6 |
286.5 |
347.7 |
199.7 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
|
Auditor |
KPMG LLP |
KPMG LLP |
KPMG LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
644.2 |
479.6 |
327.8 |
263.2 |
462.3 |
|
Depreciation |
99.9 |
76.1 |
115.2 |
124.8 |
109.4 |
|
Amortization of Intangible Assets |
0.8 |
0.6 |
1.3 |
0.2 |
0.2 |
|
Expense of Allowance for Doubtful Accoun |
0.3 |
0.8 |
0.0 |
2.4 |
0.4 |
|
Recovery of Allowance for Doubtful Accou |
0.0 |
-0.7 |
- |
- |
0.0 |
|
Payment for Retirement Allowance, ONCI |
6.9 |
5.4 |
6.1 |
6.4 |
5.5 |
|
Corporate Taxes Expense |
235.4 |
148.7 |
- |
- |
- |
|
Insurance Expense |
- |
- |
0.0 |
- |
- |
|
Commission Accrued |
- |
- |
0.0 |
- |
- |
|
Interest Expenses |
13.5 |
14.7 |
1.1 |
0.6 |
0.6 |
|
Interest Income |
-24.0 |
-19.7 |
- |
- |
- |
|
Dividend Income |
-0.8 |
-1.0 |
- |
- |
- |
|
Defect Repair Expense |
- |
0.4 |
- |
- |
- |
|
Provisions for Restoration |
4.9 |
- |
- |
- |
- |
|
Losses on Foreign Currency Translation |
10.9 |
3.9 |
0.9 |
45.1 |
10.2 |
|
Gains on Foreign Currency Translation |
-2.5 |
-6.7 |
-6.1 |
-3.7 |
-0.7 |
|
Loss-Disposal of Trade Receivable |
- |
- |
0.0 |
- |
- |
|
Loss on Disposal of Financial Assets Ava |
0.8 |
2.0 |
- |
- |
- |
|
Loss on Disposal of Financial Instrument |
2.5 |
0.5 |
2.1 |
76.9 |
4.3 |
|
Loss on Reduction of Financial Assets Av |
1.2 |
- |
- |
- |
- |
|
Loss on Valuation of Financial Instrumen |
4.8 |
1.0 |
- |
- |
- |
|
Loss on Disposal of Current Investment i |
2.2 |
1.8 |
- |
- |
- |
|
Loss on Disposal of Investment in Subsid |
1.1 |
- |
- |
- |
- |
|
Loss on Disposal of Investment Propertie |
- |
0.3 |
- |
- |
- |
|
Loss on Disp. of Investment Assets |
- |
- |
0.6 |
14.7 |
0.1 |
|
Loss on Disposal of Property, Plant and |
2.5 |
3.3 |
1.3 |
1.0 |
1.6 |
|
Impairment Loss on Property, Plant and E |
- |
0.3 |
- |
- |
- |
|
Loss on Disposal of Intangible Assets |
0.0 |
0.1 |
- |
- |
- |
|
Impairment Loss on Intangible Assets |
0.5 |
3.4 |
- |
- |
- |
|
Loss on Derivatives Transaction |
1.3 |
9.9 |
4.3 |
37.4 |
0.5 |
|
Loss on Valuation of Derivative Financia |
3.9 |
5.9 |
- |
- |
- |
|
L-ST Trading Securities Valuation |
- |
- |
- |
1.8 |
7.4 |
|
L-Secs for Sale Reduction |
- |
- |
0.3 |
3.6 |
4.8 |
|
Loss Equity Method |
4.5 |
5.1 |
0.2 |
- |
- |
|
Gains on Valuations of Derivatives Asset |
0.0 |
-3.0 |
-43.6 |
-8.2 |
-19.7 |
|
Gain on Derivatives Transaction |
-10.7 |
-28.7 |
- |
- |
- |
|
Gain on Disposal of Financial Assets Ava |
-1.7 |
-2.9 |
- |
- |
-0.1 |
|
Recovery of Loss on Reduction of Financi |
-0.2 |
0.0 |
- |
- |
0.0 |
|
Gain-Disposal of ST Trading Securities |
- |
- |
-5.6 |
-2.1 |
-23.8 |
|
Gain on Disposal of Financial Instrument |
-1.7 |
-2.0 |
- |
- |
- |
|
Gain on Value of Financial Instruments a |
-5.7 |
-11.3 |
- |
- |
- |
|
Gain-Valuation of ST Trading Securities |
- |
- |
-4.3 |
-2.9 |
-9.6 |
|
Gain-Disposal of Investment Assets |
- |
- |
-0.6 |
-1.1 |
-29.3 |
|
Gain on Disposal of Investment Propertie |
- |
-0.4 |
- |
- |
- |
|
Gain on Disposal of Current Investment i |
-0.9 |
-1.8 |
- |
- |
- |
|
Gain on Disposal of Investment in Affili |
-1.2 |
-2.3 |
- |
- |
- |
|
Gain under Equity Method |
-1.2 |
-0.8 |
-1.3 |
-4.7 |
-5.7 |
|
Gain on Disposal of Property, Plant and |
0.0 |
-0.4 |
-0.1 |
-0.1 |
0.0 |
|
Gain on Disposal of Intangible Assets |
-0.6 |
-0.9 |
- |
- |
- |
|
Adjustment for Operating Activities |
0.0 |
0.0 |
- |
- |
- |
|
Deferred Income Tax Debit |
- |
- |
-1.2 |
-8.2 |
-0.3 |
|
Deferred Income Tax Debit, Current |
- |
- |
7.3 |
-0.3 |
- |
|
Deferred Income Tax Credit, Current, A/L |
- |
- |
3.8 |
-1.8 |
-0.9 |
|
Deferred Income Tax Credit, A/L |
- |
- |
31.4 |
-18.1 |
28.2 |
|
Derivatives in Assets |
- |
- |
38.3 |
45.5 |
-1.4 |
|
Inventory |
65.1 |
-66.7 |
-379.2 |
135.0 |
-14.7 |
|
Trade Receivables |
4.9 |
-27.6 |
-61.1 |
51.9 |
48.2 |
|
Non-Current Trade Receivables |
- |
0.0 |
- |
- |
- |
|
Account Receivables |
-9.0 |
4.6 |
8.5 |
-3.1 |
-12.4 |
|
Non-Current Other Receivable |
-1.9 |
-5.8 |
-1.5 |
-0.1 |
- |
|
Accrued Income |
-0.5 |
-0.4 |
0.8 |
-0.3 |
0.3 |
|
Corporate Tax Refundable |
- |
- |
0.0 |
- |
- |
|
Prepaid Expenses |
-4.1 |
0.2 |
-1.5 |
-0.1 |
0.1 |
|
Prepaid Value Added Taxes |
- |
- |
0.0 |
0.0 |
- |
|
Advance Payments |
2.1 |
0.0 |
7.1 |
-2.9 |
-0.8 |
|
Accrued Expenses |
4.8 |
0.8 |
-1.9 |
-6.1 |
1.5 |
|
Non-Current Accrued Expenses |
-0.1 |
0.2 |
- |
- |
- |
|
Accrued Income Taxes |
- |
- |
-0.7 |
-55.1 |
24.4 |
|
VAT Withheld |
- |
- |
0.1 |
- |
- |
|
Other Quick Assets |
0.0 |
-0.4 |
-5.0 |
-0.2 |
0.5 |
|
Trade Payables |
-96.9 |
-6.9 |
160.5 |
-42.1 |
-95.3 |
|
Other Payables |
1.1 |
4.2 |
4.8 |
9.0 |
-12.7 |
|
Non-Current Other Payables |
0.0 |
- |
0.1 |
- |
- |
|
Derivatives in Liabilities |
- |
- |
-46.6 |
-20.9 |
0.6 |
|
Other LT Liabilities |
- |
- |
-2.8 |
0.9 |
0.5 |
|
Unearned Income |
- |
- |
-0.4 |
0.1 |
0.4 |
|
Advance from Customers |
0.0 |
0.2 |
-7.4 |
7.1 |
0.0 |
|
Dividend Received from Affiliates |
- |
- |
0.4 |
- |
- |
|
Withholdings |
0.6 |
-0.1 |
-1.4 |
-3.4 |
4.8 |
|
Non-Current Withholdings |
- |
0.0 |
- |
- |
- |
|
Guarantee Deposits Withholdings |
- |
0.0 |
- |
- |
- |
|
Other Current Liabilities |
- |
- |
2.1 |
-0.5 |
0.8 |
|
Plan Assets |
-9.0 |
-4.2 |
- |
- |
- |
|
Repay-National Pension |
- |
- |
0.0 |
0.1 |
0.0 |
|
Payment for Retirement Allowance |
-2.9 |
-1.1 |
-3.3 |
-4.7 |
-3.0 |
|
Deposit-Retirement Insurance |
- |
- |
-2.3 |
-1.0 |
-0.4 |
|
Retirement Allw Rsrv |
- |
- |
0.1 |
0.0 |
0.3 |
|
Adjustment for Change in Assets & Liabil |
- |
0.0 |
- |
- |
- |
|
Cash-Interest Received |
22.1 |
19.4 |
- |
- |
- |
|
Cash-Dividend Income |
1.1 |
1.3 |
- |
- |
- |
|
Cash-Interest Paid |
-14.4 |
-14.9 |
- |
- |
- |
|
Cash-Tax Paid |
-132.9 |
-58.0 |
- |
- |
- |
|
Cash from Operating Activities |
820.8 |
526.1 |
148.8 |
635.9 |
487.1 |
|
|
|
|
|
|
|
|
Dec in ST Loans |
- |
- |
- |
0.0 |
0.0 |
|
Decrease in LT Loans |
- |
- |
- |
- |
12.0 |
|
Decrease in Guarantee Deposit |
1.1 |
0.3 |
0.9 |
0.0 |
0.1 |
|
Disposal of Current Financial Deposit |
61.5 |
270.3 |
- |
- |
- |
|
Disposal of Derivative, Net |
8.6 |
19.5 |
- |
- |
- |
|
Dec-ST Financial Assets |
- |
- |
159.9 |
46.7 |
256.8 |
|
Decrease-LT Financial Assets |
- |
- |
- |
- |
0.1 |
|
Disposal of Financial Instruments at Fai |
187.3 |
173.0 |
- |
- |
- |
|
Disp of Market Secs. |
- |
- |
337.6 |
1,063.0 |
653.4 |
|
Disposal of Investment Properties |
- |
1.3 |
5.6 |
53.1 |
42.2 |
|
Disposal of Securities Available-for-Sal |
47.9 |
23.6 |
- |
- |
0.0 |
|
Disposal of Financial Assets Held to Mat |
0.0 |
2.0 |
- |
- |
- |
|
Disposal of Investment in Current Subsid |
224.5 |
203.5 |
- |
- |
- |
|
Disposal of Investment in Subsidiaries |
-1.0 |
-15.2 |
- |
- |
- |
|
Disposal of Property, Plant and Equipmen |
0.1 |
17.2 |
- |
- |
- |
|
Disposal of Land |
- |
- |
- |
0.1 |
- |
|
Disposal of Building |
- |
- |
- |
- |
0.0 |
|
Disposal Mach./Equip |
- |
- |
- |
0.0 |
0.0 |
|
Disposal Trans Equip |
- |
- |
0.5 |
0.0 |
0.0 |
|
Disp Tools/Supplies |
- |
- |
0.0 |
0.0 |
0.0 |
|
Disposal of Intangible Assets |
0.8 |
1.7 |
0.0 |
- |
- |
|
Disp-Contruction in Progress |
- |
- |
0.2 |
- |
- |
|
Increase-ST Loans |
- |
- |
-0.3 |
- |
-0.5 |
|
Increase in Current Loans to Employees |
0.0 |
- |
- |
- |
- |
|
Increase-LT Loans |
-31.5 |
-0.4 |
- |
- |
- |
|
Increase in Guarantee Deposit |
-2.7 |
-1.4 |
-3.0 |
-2.7 |
-1.1 |
|
Purchase of Current Financial Deposit |
-75.6 |
-204.0 |
- |
- |
- |
|
Inc-ST Financial Assets |
- |
- |
-61.7 |
-127.2 |
-269.6 |
|
Purchase of Financial Instruments at Fai |
-79.5 |
-237.3 |
- |
- |
- |
|
Purchase of Securities Available-for-Sal |
-88.3 |
-81.4 |
-388.6 |
-842.9 |
-1,022.4 |
|
Acquis in Invest Sec |
- |
- |
-42.4 |
-43.5 |
-24.0 |
|
Purchase of Financial Assets Held to Mat |
0.0 |
0.0 |
-2.0 |
- |
- |
|
Purchase of Investment in Current Subsid |
-308.8 |
-276.7 |
- |
- |
- |
|
Purchase of Investment in Subsidiaries |
- |
-47.2 |
-23.0 |
-13.6 |
- |
|
Purchase of Property, Plant and Equipmen |
-227.5 |
-283.3 |
- |
- |
- |
|
Acquis. of Building |
- |
- |
-0.1 |
- |
-0.1 |
|
Purch. of Structure |
- |
- |
0.0 |
0.0 |
-0.1 |
|
Purch. of Mach/Equip |
- |
- |
-2.2 |
- |
0.0 |
|
Acq. of Trans Equip |
- |
- |
-0.6 |
-0.4 |
-0.3 |
|
Acq. in Tools/Suppl. |
- |
- |
-2.7 |
-0.4 |
-0.4 |
|
Inc. Const. In Prog |
- |
- |
-208.7 |
-195.8 |
-244.6 |
|
Increase-Other Intangible Assets |
- |
- |
-0.2 |
0.0 |
0.0 |
|
Increase-Development Cost |
- |
- |
-4.2 |
- |
- |
|
Purchase of Intangible Assets |
-11.3 |
-4.6 |
- |
- |
- |
|
Cash from Investing Activities |
-294.4 |
-439.1 |
-235.2 |
-63.5 |
-598.5 |
|
|
|
|
|
|
|
|
Increase in Current Borrowings |
268.4 |
222.1 |
105.7 |
683.7 |
250.2 |
|
Increase in Non-Current Borrowings |
14.4 |
5.9 |
59.3 |
27.7 |
170.0 |
|
Increase in Bonds |
- |
99.2 |
- |
49.1 |
20.0 |
|
Inc Lease Guarantee |
- |
- |
0.0 |
0.0 |
0.0 |
|
Increase-Subsidy from Government |
- |
- |
0.1 |
- |
- |
|
Inc in Minority Int. |
- |
- |
- |
- |
0.0 |
|
Rights Issue |
- |
0.2 |
7.8 |
- |
- |
|
Disposal-Treasury Stock |
- |
- |
- |
- |
22.6 |
|
Repay Curr LT Liabs |
-8.5 |
-13.6 |
-16.0 |
-129.1 |
-9.9 |
|
Dec-Bonds |
- |
- |
-148.6 |
- |
-20.4 |
|
Decrease in Current Borrowings |
-354.3 |
-249.0 |
-28.0 |
-1,059.9 |
-26.8 |
|
Dec in LT Borrowings |
- |
- |
- |
-0.4 |
-197.3 |
|
Stocks Issuance Cost |
0.0 |
0.0 |
- |
- |
- |
|
Decrease-Lease Guarantee Deposit |
- |
- |
0.0 |
0.0 |
- |
|
Acquis of Treas Stck |
- |
- |
- |
- |
-4.2 |
|
Dividend Paid |
-41.2 |
-35.2 |
-28.9 |
-32.1 |
-28.2 |
|
Inc due to Con Scope |
- |
- |
12.3 |
3.0 |
-5.3 |
|
Cash from Financing Activities |
-121.2 |
29.6 |
-36.2 |
-458.0 |
170.9 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
2.9 |
-0.9 |
-3.0 |
17.6 |
1.2 |
|
Net Change in Cash |
408.0 |
115.6 |
-125.6 |
132.0 |
60.7 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
317.2 |
188.3 |
258.2 |
167.4 |
137.6 |
|
Net Cash - Ending Balance |
725.2 |
303.9 |
132.7 |
299.5 |
198.3 |
|
Cash Interest Paid |
14.4 |
14.9 |
- |
- |
- |
|
Cash Taxes Paid |
132.9 |
58.0 |
- |
- |
- |
Financial Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.34 |
|
UK Pound |
1 |
Rs.82.56 |
|
Euro |
1 |
Rs.70.10 |
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.