|
Report Date : |
26.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
KOREAN HYDRAULIC MACHINERY CO., LTD. |
|
|
|
|
Registered Office : |
768-6, Wonsi-dong, Danwon-gu, Ansan-si, Gyeonggi-do, Korea, Zip Code 425-852 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
08.12.1997 |
|
|
|
|
Com. Reg. No.: |
113-81-46091 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Manufacture of Civil Engineering and Similar Machine Equipment |
|
|
|
|
No. of Employees : |
21 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
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 |
KOREAN HYDRAULIC
MACHINERY CO., LTD. (Korean Company
Name : “코막중공업(주)”) |
|
Registered Address |
768-6, Wonsi-dong, Danwon-gu, Ansan-si,
Gyeonggi-do, Korea |
|
Zip Code |
425-852 |
|
Tel |
+82-31-498-3223 |
|
Fax |
+82-31-498-4204 |
|
E-mail |
|
|
Website |
|
|
Trading Address |
768-6, Wonsi-dong, Danwon-gu, Ansan-si,
Gyeonggi-do, Korea |
|
Tel |
+82-31-498-3223 |
|
Fax |
+82-31-498-4204 |
|
Other Address |
Rm.601, Shinsong Bldg., 25-4,
Yeouido-dong, Yeongdeungpo-gu, Seoul, Korea |
|
Tel |
+82-2-761-0880 |
|
Type |
Export |
|
Industry |
Manufacture of Civil Engineering and Similar Machine Equipment |
|
Main Business |
Hydraulic Breaker, Heavy Equipment Spare Parts, Excavator, Mini Forklift,
Mini Crusher, Mini Shear, Pulverizer, Quick Coupler, Compacter, Demolition
Grappler, Grappler, Recycling Plant, Skid Steer Loader, Feeder, Horizontal
Vibrating Screen, Vibrating Roller |
|
Established (mm/dd/yyyy) |
12/08/1997 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Crushers and breakers and grinders(20101700) |
|
Sell |
Rock breakers(20101711) |
|
Sell |
Hydraulic pumps(40151533) |
|
Sell |
Heavy equipment components(22101700) |
|
Sell |
Air coupling(27131613) |
|
Sell |
Cold chisels(27111901) |
|
Sell |
Seal kits(31181606) |
|
Sell |
Rollers(22101505) |
|
Sell |
Lifting equipment and accessories(24101600) |
|
Sell |
Hoists(24101602) |
|
Buy |
Bearings(31171500) |
|
Buy |
Stainless steel plate(30102205) |
|
Buy |
Iron plate(30102203) |
|
Buy |
Electrical cable and accessories(26121600) |
|
Buy |
Hydraulic motors(26101613) |
|
Buy |
Valves(40141600) |
|
Buy |
Nuts(31161700) |
|
Buy |
Bolts(31161600) |
|
Buy |
Gearmotors(26111526) |
|
Name |
Cho Boong-Gu |
|
Address |
Suite 502-203, 254, Yanghyeon-ro,
Bundang-gu, Seongnam-si, Gyeonggi-do, Korea |
|
Date of Birth |
05/14/1965 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
1,650,000,000 |
|||||||||||||||||||||
|
Employees |
21 |
|||||||||||||||||||||
|
Formation |
Co., Ltd by Shares |
|||||||||||||||||||||
|
Bank Details |
Industrial Bank of Korea-Shihwa Industrial
Complex Shinhan Bank |
|||||||||||||||||||||
|
Corporate Registered No. |
1101111-492191 |
|||||||||||||||||||||
|
Business Registered No. |
113-81-46091 |
|||||||||||||||||||||
|
Permit & Licenses |
06/20/2003 CE Mark 08/2003 ISO 9001 04/2007 CE Mark Int’l Trade No.: 11432067 |
|||||||||||||||||||||
|
Shareholder Position |
|
|||||||||||||||||||||
|
Company History |
12/08/1997 Incorporated as the present name 08/2001 Designated as a Venture Business 11/2001 Designated as an INNO-BIZ Company 10/25/2005 Moved to the present HQ address from
Rm.108, 2Ba, Shihwa Industrial Complex, Jeongwang-dong, Siheung-si,
Gyeonggi-do, Korea 12/18/2007 Designated as a Venture Business
again 11/01/2010 Moved to the present HQ address
from 686-9, Seonggok-dong, Danwon-gu, Ansan-si, Gyeonggi-do, Korea 12/25/2010 Decreased the authorized shares
to 750,000 shares from 1,000,000 shares 02/26/2011 Increased capital to
1,650,000,000 KRW from 1,250,000,000 KRW 04/23/2012 Decided to start Corporate
Reviving Procedure 11/16/2012 Decided to be approved of
Corporate Reviving Plan by Seoul District Court(2012HOIHAP43) |
|||||||||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO / Trustee |
Mr. |
Cho Boong-Gu |
Male |
Korean |
08/29/2011 |
|
Director |
Mr. |
Park No-Taik |
Male |
Korean |
06/19/2012 |
|
Director |
Mr. |
Cho Se-Goo |
Male |
Korean |
06/19/2012 |
|
Auditor |
Mr. |
Kim Ki-Chang |
Male |
Korean |
01/15/2013 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2011 |
12,831,908,809 |
17,912,623,764 |
-1,567,132,141 |
|
2010 |
9,537,892,230 |
18,045,079,635 |
-13,031,713,429 |
|
2009 |
20,453,941,159 |
27,353,906,524 |
-2,278,074,687 |
|
Authorized Capital(KRW) |
3,750,000,000 |
|
Paid-Up Capital(KRW) |
1,650,000,000 |
|
Total Issued Shares |
330,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Total Assets |
17,912,623,764 |
18,045,079,635 |
27,353,906,524 |
|
Current Assets |
5,556,060,788 |
5,627,687,555 |
13,547,591,945 |
|
-Quick Assets |
2,868,461,242 |
5,627,687,555 |
10,733,414,570 |
|
-Inventories |
2,687,599,546 |
- |
2,814,177,375 |
|
Fixed Assets |
12,356,562,976 |
12,417,392,080 |
13,806,314,579 |
|
-Investment |
30,000,000 |
30,000,000 |
1,356,734,224 |
|
-Tangibles |
12,236,053,052 |
12,253,854,466 |
12,323,709,206 |
|
-Intangibles |
55,174,924 |
97,752,614 |
42,787,149 |
|
-Others |
35,335,000 |
35,785,000 |
83,084,000 |
|
Total Liabilities |
31,630,668,368 |
32,195,992,098 |
28,473,105,558 |
|
Current Liabilities |
18,684,604,436 |
19,935,557,079 |
21,528,656,914 |
|
Fixed Liabilities |
12,946,063,932 |
12,260,435,019 |
6,944,448,644 |
|
Capital Stock |
1,650,000,000 |
1,250,000,000 |
2,500,000,000 |
|
Capital Surplus |
2,850,000,000 |
1,250,000,000 |
- |
|
Profit Surplus |
-22,226,479,195 |
-20,659,347,054 |
-7,627,633,625 |
|
Capital Adjustment |
4,008,434,591 |
4,008,434,591 |
4,008,434,591 |
|
Total Equity |
-13,718,044,604 |
-14,150,912,463 |
-1,119,199,034 |
|
Liab. & Shareholder’s Equity |
17,912,623,764 |
18,045,079,635 |
27,353,906,524 |
|
Current Liabilities |
18,684,604,436 |
19,935,557,079 |
21,528,656,914 |
|
Trade Payables |
3,178,898,984 |
6,084,041,730 |
6,729,273,199 |
|
Short-Term Borrowings |
14,440,033,183 |
12,754,007,672 |
11,919,379,557 |
|
Account Payables |
799,237,828 |
984,570,566 |
424,880,319 |
|
Withholdings |
31,609,180 |
12,434,030 |
10,231,940 |
|
Advance Receipts |
50,528,491 |
74,421,836 |
444,898,643 |
|
Accrued Expenses |
184,296,770 |
26,081,245 |
210,988,385 |
|
Current Portion of Long-Term Debts |
- |
- |
1,789,004,871 |
|
Fixed Liabilities |
12,946,063,932 |
12,260,435,019 |
6,944,448,644 |
|
Long-Term Borrowings |
12,228,137,946 |
11,663,977,673 |
6,527,651,870 |
|
Long-Term Account Payables |
624,229,000 |
450,000,000 |
178,000,000 |
|
Provision for Severance & Retirement |
136,056,847 |
170,230,810 |
261,788,110 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Sales |
12,831,908,809 |
9,537,892,230 |
20,453,941,159 |
|
Cost of Sold Goods |
11,381,736,001 |
9,283,594,039 |
14,880,835,804 |
|
Gross Profit |
1,450,172,808 |
254,298,191 |
5,573,105,355 |
|
Selling & Admin. Expenses |
2,444,267,527 |
7,982,707,951 |
2,745,469,668 |
|
Operating Income |
-994,094,719 |
-7,728,409,760 |
2,827,635,687 |
|
Non-Operating Income |
714,178,612 |
48,264,262 |
1,701,919,513 |
|
Non-Operating Expenses |
1,287,216,034 |
5,351,567,931 |
6,851,932,007 |
|
Income Before Taxes |
-1,567,132,141 |
-13,031,713,429 |
-2,322,376,807 |
|
Income Taxes Expenses |
- |
- |
-44,302,120 |
|
Net Income |
-1,567,132,141 |
-13,031,713,429 |
-2,278,074,687 |
Cash
Flows
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Cash Flows from Operating |
-2,109,585,793 |
-4,459,212,508 |
-4,096,255,977 |
|
-Net Income |
-1,567,132,141 |
-13,031,713,429 |
-2,278,074,687 |
|
-Exp. without Cash Outflow |
1,849,730,872 |
10,004,256,019 |
1,060,151,766 |
|
-Revenue without Cash Inflows |
-626,931,026 |
-11,937,585 |
-1,182,101,530 |
|
-Changes in Asset/ & Liability |
-1,765,253,498 |
-1,419,817,513 |
-1,696,231,526 |
|
Cash Flows from Investing |
-104,054,085 |
1,011,899,785 |
230,737,696 |
|
-Cash Inflow from Investing |
104,970,924 |
1,222,923,657 |
1,816,600,588 |
|
-Cash Outflows for Investing |
-209,025,009 |
-211,023,872 |
-1,585,862,892 |
|
Cash Flows from Financing |
2,210,428,419 |
3,419,298,115 |
3,659,487,586 |
|
-Cash Inflows from Financing |
5,245,201,135 |
14,256,635,996 |
10,620,893,583 |
|
-Cash Outflows from Financing |
-3,034,772,716 |
-10,837,337,881 |
-6,961,405,997 |
|
Increase/Decrease in Cash |
3,211,459 |
28,014,608 |
206,030,695 |
|
Cash at the Beginning of Year |
3,663,926 |
31,678,534 |
237,709,229 |
|
Cash at the End of Year |
452,467 |
3,663,926 |
31,678,534 |
(*)The Subject
needs to be monitored because Net Income is (-)1,567,000,000 KRW, and Total
Liabilities exceed Total Assets as much as 13,129,000,000 KRW.
|
Main Products & Services |
Hydraulic Breaker, Heavy Equipment Spare Parts, Excavator, Mini
Forklift, Mini Crusher, Mini Shear, Pulverizer, Quick Coupler, Compacter,
Demolition Grappler, Grappler, Recycling Plant, Skid Steer Loader, Feeder, Horizontal
Vibrating Screen, Vibrating Roller |
|
Competitors |
EVERDIGM CORP. 332-3, JANGGWAN-RI, JINCHEON-EUP,
JINCHEON-GUN, CHUNGCHEONGBUK-DO, KOREA TEL:+82-43-530-3300 FAX:+82-43-530-3318 DAEMO
ENGINEERING CO., LTD. 2BA-515, SIHWA INDUSTRIAL COMPLEX, 2178-5,
JEONGWANG 2-DONG, SIHEUNG-SI, GYEONGGI-DO, KOREA TEL:+82-31-488-6011 FAX:+82-31-496-0067 MSB CORPORATION 123B-4L, NAMDONG INDUSTRIAL COMPLEX, 693-3,
GOJAN-DONG, NAMDONG-GU, INCHEON, KOREA TEL:+82-32-821-6980~3 FAX:+82-32-818-1698 |
(Subsidiaries, Joint-Venture & Affiliates)
|
Subsidiary |
KOMAC EUROPE B.V(EUROPE) KOMAC QINGDAO(CHINA) KOMAC AMERICA(USA) |
(Activity & Markets)
The Subject exports
to South America, Mexico, USA, Saudi Arabia, Europe, China and Hong Kong.
No.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.09 |
|
UK Pound |
1 |
Rs.82.47 |
|
Euro |
1 |
Rs.70.49 |
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.