MIRA
INFORM REPORT
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Report Date : |
11.05.2013 |
IDENTIFICATION DETAILS
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Name : |
KAONMEDIA CO., LTD. |
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Registered Office : |
KAON Media Bldg., 513-4, Yatap-Dong, Bundang-Gu, Boondang-Gu,
Seongnam, 463839 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
11.05.2001 |
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Legal Form : |
Public Independent Company |
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Line of Business : |
Subject is engaged in the home networking and digital multimedia
business. |
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No. of Employees : |
180 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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South korea |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
South Korea - ECONOMIC OVERVIEW
South Korea over the past four decades
has demonstrated incredible growth and global integration to become a high-tech
industrialized economy. In the 1960s, GDP per capita was comparable with levels
in the poorer countries of Africa and Asia. In 2004, South Korea joined the
trillion dollar club of world economies, and is currently the world's 12th
largest economy. Initially, a system of close government and business ties,
including directed credit and import restrictions, made this success possible.
The government promoted the import of raw materials and technology at the
expense of consumer goods, and encouraged savings and investment over
consumption. The Asian financial crisis of 1997-98 exposed longstanding
weaknesses in South Korea's development model including high debt/equity ratios
and massive short-term foreign borrowing. GDP plunged by 6.9% in 1998, and then
recovered by 9% in 1999-2000. Korea adopted numerous economic reforms following
the crisis, including greater openness to foreign investment and imports.
Growth moderated to about 4% annually between 2003 and 2007. Korea's export
focused economy was hit hard by the 2008 global economic downturn, but quickly
rebounded in subsequent years, reaching 6.3% growth in 2010. The US-South Korea
Free Trade Agreement was ratified by both governments in 2011 and went into
effect in March 2012. Throughout 2012 the economy experienced sluggish growth
because of market slowdowns in the United States, China, and the Eurozone. The
incoming administration in 2013, following the December 2012 presidential
election, is likely to face the challenges of balancing heavy reliance on
exports with developing domestic-oriented sectors, such as services. The South
Korean economy's long term challenges include a rapidly aging population,
inflexible labor market, and heavy reliance on exports - which comprise half of
GDP.
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Source : CIA |
Company name & address
Kaonmedia Co., Ltd.
KAON Media Bldg., 513-4, Yatap-Dong, Bundang-Gu
Boondang-Gu
Seongnam, 463839
Korea, Republic of
Tel: 82-31-7248500
Fax: 82-31-7248997
Web: www.kaonmedia.com
Synthesis
Employees: 180
Company Type: Public Independent
Traded: KOSDAQ: 078890
Incorporation Date:
11-May-2001
Auditor: Dasan Accounting Corp.
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2012
Reporting Currency: South
Korean Won
Annual Sales: 170.3
1
Net Income: 3.9
Total Assets: 142.4
2
Market Value: 58.1(26-Apr-2013)
Business Description
KAON Media Co., Ltd. is a Korea-based company engaged in the home
networking and digital multimedia business. The Company produces digital
broadcasting receivers, digital composite video storage devices and home
networking equipment including satellite set top boxes (STBs), cable STBs,
terrestrial STBs and hybrid STBs, which include high definition (HD) receiver
type, standard definition (SD) receiver type, personal video recorder (PVR)
type and HD PVR receiver type. It also provides home networking servers and
smart televisions (TVs). The Company distributes products within domestic
market and to overseas markets. For the fiscal year ended 31 December 2012,
Kaonmedia Co., Ltd. revenues increased 51% to W191.94B. Net income totaled
W4.4B vs. loss of W8.68B. Revenues reflect an increase in demand for the
Company's products and services due to favorable market conditions. Net Income
reflects Repair Expense decrease of 100% to W16.4M (expense), Loss on Foreign
Currency Transaction decrease of 39% to W4.37B (expense).
Industry
Industry Audio and Video Equipment
ANZSIC 2006: 2429 - Other
Electronic Equipment Manufacturing
NACE 2002: 3230 - Manufacture of television and
radio receivers, sound or video recording or reproducing apparatus and
associated goods
NAICS 2002: 33431 - Audio and Video
Equipment Manufacturing
UK SIC 2003: 3230 - Manufacture
of television and radio receivers, sound or video recording or reproducing
apparatus and associated goods
UK SIC 2007: 2640 - Manufacture
of consumer electronics
US SIC 1987: 3651 - Household
Audio and Video Equipment
Key Executives
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Name |
Title |
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President, Chief Executive Officer, Director |
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Internal Auditor |
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Assistant Managing Director |
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Assistant Managing Director |
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Assistant Managing Director |
Significant
Developments
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* number of significant developments within the last 12 months
News
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Financial
Summary
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Stock Snapshot
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1 - Profit & Loss Item Exchange Rate: USD 1 = KRW 1126.849
2 - Balance Sheet Item Exchange Rate: USD 1 = KRW 1066.4
Corporate Overview
Location
KAON Media Bldg., 513-4, Yatap-Dong, Bundang-Gu
Boondang-Gu
Seongnam, 463839
Korea, Republic of
Tel: 82-31-7248500
Fax: 82-31-7248997
Web: www.kaonmedia.com
Quote Symbol - Exchange
078890 - KOSDAQ
Sales KRW(mil): 191,938.3
Assets KRW(mil): 151,904.2
Employees: 180
Fiscal Year End: 31-Dec-2012
Industry: Audio
and Video Equipment
Incorporation Date: 11-May-2001
Company Type: Public
Independent
Quoted Status: Quoted
President, Chief
Executive Officer, Director:
Hwa Seop Yim
Industry Codes
ANZSIC 2006 Codes:
2429 - Other Electronic Equipment Manufacturing
2422 - Communication Equipment Manufacturing
NACE 2002 Codes:
3230 - Manufacture of television and radio receivers, sound or
video recording or reproducing apparatus and associated goods
3220 - Manufacture of television and radio transmitters and
apparatus for line telephony and line telegraphy
NAICS 2002 Codes:
33431 - Audio and Video Equipment Manufacturing
334220 - Radio and Television Broadcasting and Wireless
Communications Equipment Manufacturing
US SIC 1987:
3651 - Household Audio and Video Equipment
3663 - Radio and Television Broadcasting and Communications
Equipment
UK SIC 2003:
3230 - Manufacture of television and radio receivers, sound or
video recording or reproducing apparatus and associated goods
32202 - Manufacture of radio and electronic capital goods
UK SIC 2007:
2640 - Manufacture of consumer electronics
26309 - Manufacture of communication equipment (other than
telegraph and telephone apparatus and equipment)
Business
Description
KAON Media Co., Ltd. is a Korea-based company engaged in the home networking and digital multimedia business. The Company produces digital broadcasting receivers, digital composite video storage devices and home networking equipment including satellite set top boxes (STBs), cable STBs, terrestrial STBs and hybrid STBs, which include high definition (HD) receiver type, standard definition (SD) receiver type, personal video recorder (PVR) type and HD PVR receiver type. It also provides home networking servers and smart televisions (TVs). The Company distributes products within domestic market and to overseas markets. For the fiscal year ended 31 December 2012, Kaonmedia Co., Ltd. revenues increased 51% to W191.94B. Net income totaled W4.4B vs. loss of W8.68B. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Net Income reflects Repair Expense decrease of 100% to W16.4M (expense), Loss on Foreign Currency Transaction decrease of 39% to W4.37B (expense).
More Business
Descriptions
· Production of digital set-up boxes
· Audio and Video Equipment Manufacturing
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Executive report
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Board of
Directors |
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Assistant Managing Director |
Director/Board Member |
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Vice President, Director |
Director/Board Member |
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Non-Executive Independent Director |
Director/Board Member |
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Assistant Managing Director |
Director/Board Member |
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Assistant Managing Director |
Director/Board Member |
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Non-Executive Independent Director |
Director/Board Member |
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President, Chief Executive Officer,
Director |
Director/Board Member |
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Executives |
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President, Chief Executive Officer, Director |
Chief Executive Officer |
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Assistant Managing Director |
Managing Director |
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Managing Director |
Managing Director |
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Assistant Managing Director |
Managing Director |
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Assistant Managing Director |
Managing Director |
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Internal Auditor |
Accounting Executive |
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Significant Developments
KAON Media Co., Ltd. Signs Contract with SK Broadband Co., Ltd. Apr
10, 2013
KAON Media Co., Ltd. announced that it has signed a contract with SK Broadband Co., Ltd. to supply internet protocol television set top boxes ( IPTV STB). The contract amount is KRW 36,139,100,000.
KAON Media Co., Ltd. Declares Annual Cash Dividend for FY 2012 Feb 18, 2013
KAON Media Co., Ltd. announced that it has declared an annual cash dividend of KRW 50 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 1.1% and the total amount of the cash dividend is KRW 471,125,900. The Company's annual cash dividend for the fiscal year 2010 was KRW 60 per share.
KAON Media Co., Ltd. Adjusts Exercise Price of Fifth Bonds with Warrants Aug 27, 2012
KAON Media Co., Ltd. announced that it has adjusted the exercise price of its fifth bonds with warrants to KRW 3,432 from KRW 3,604 per share, effective August 27, 2012.
KAON Media Co., Ltd. Signs Contract with SK Broadband Co., Ltd. Jul 13, 2012
KAON Media Co., Ltd. announced that it has signed a contract with SK Broadband Co., Ltd. to supply internet protocol television set top boxes ( IPTV STB). The contract amount is KRW 14,374,800,000.
KAON Media Co., Ltd. Adjusts Exercise Price of Fifth Bonds with Warrants May 29, 2012
KAON Media Co., Ltd. announced that it has adjusted the exercise price of its fifth bonds with warrants to KRW 3,604 from KRW 3,845 per share, effective May 29, 2012.
KAON Media Co., Ltd. Signs Contract with KT CORPORATION May 24, 2012
KAON Media Co., Ltd. announced that it has signed a contract with KT CORPORATION to supply olleh TV set top boxes (STB). The contract amount is KRW 33,660 million.
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
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UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1126.848795 |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
|
Auditor |
Dasan Accounting
Corp. |
Dasan Accounting
Corp. |
Dasan Accounting
Corp. |
Dasan Accounting
Corp. |
Ernst &
Young LLP |
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Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
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Net Sales |
170.3 |
114.9 |
192.9 |
115.9 |
150.4 |
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Revenue |
170.3 |
114.9 |
192.9 |
115.9 |
150.4 |
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Total Revenue |
170.3 |
114.9 |
192.9 |
115.9 |
150.4 |
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Cost of Revenue |
139.3 |
95.3 |
155.8 |
95.8 |
113.6 |
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Cost of Revenue, Total |
139.3 |
95.3 |
155.8 |
95.8 |
113.6 |
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Gross Profit |
31.0 |
19.6 |
37.1 |
20.1 |
36.8 |
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Selling/General/Administrative Expense |
10.8 |
11.0 |
13.5 |
10.8 |
14.5 |
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Labor & Related Expense |
5.5 |
6.0 |
6.1 |
4.5 |
5.9 |
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Advertising Expense |
0.7 |
0.6 |
0.7 |
0.3 |
1.1 |
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Total Selling/General/Administrative Expenses |
17.0 |
17.6 |
20.3 |
15.6 |
21.6 |
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Research & Development |
7.8 |
8.3 |
8.6 |
5.8 |
9.9 |
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Depreciation |
0.9 |
1.1 |
1.2 |
1.0 |
0.9 |
|
Amortization of Intangibles |
- |
- |
- |
0.5 |
0.9 |
|
Depreciation/Amortization |
0.9 |
1.1 |
1.2 |
1.5 |
1.7 |
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Investment Income -
Operating |
- |
- |
-0.4 |
- |
- |
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Interest/Investment Income - Operating |
- |
- |
-0.4 |
- |
- |
|
Interest Expense (Income) - Net Operating Total |
- |
- |
-0.4 |
- |
- |
|
Impairment-Assets Held for Use |
- |
- |
0.2 |
- |
- |
|
Loss (Gain) on Sale of Assets - Operating |
- |
- |
0.2 |
- |
- |
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Unusual Expense (Income) |
- |
- |
0.4 |
- |
- |
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Other Operating Expense |
- |
- |
2.1 |
- |
- |
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Other, Net |
- |
- |
-1.5 |
- |
- |
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Other Operating Expenses, Total |
- |
- |
0.5 |
- |
- |
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Total Operating Expense |
164.9 |
122.3 |
186.4 |
118.8 |
146.8 |
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Operating Income |
5.5 |
-7.4 |
6.4 |
-2.8 |
3.6 |
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Interest Expense -
Non-Operating |
-2.5 |
-2.3 |
-2.1 |
-1.8 |
-2.5 |
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Interest Expense, Net Non-Operating |
-2.5 |
-2.3 |
-2.1 |
-1.8 |
-2.5 |
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Interest Income -
Non-Operating |
0.4 |
0.5 |
0.5 |
0.6 |
0.8 |
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Investment Income -
Non-Operating |
-0.1 |
-0.4 |
0.8 |
2.8 |
-9.5 |
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Interest/Investment Income - Non-Operating |
0.4 |
0.1 |
1.3 |
3.4 |
-8.7 |
|
Interest Income (Expense) - Net Non-Operating |
0.0 |
0.0 |
0.0 |
- |
- |
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Interest Income (Expense) - Net Non-Operating Total |
-2.1 |
-2.2 |
-0.8 |
1.6 |
-11.3 |
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Gain (Loss) on Sale of Assets |
- |
-0.1 |
- |
-0.2 |
0.0 |
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Other Non-Operating Income (Expense) |
0.1 |
1.0 |
- |
-1.2 |
-1.3 |
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Other, Net |
0.1 |
1.0 |
- |
-1.2 |
-1.3 |
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Income Before Tax |
3.4 |
-8.7 |
5.6 |
-2.6 |
-9.0 |
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Total Income Tax |
-0.5 |
-0.6 |
-0.7 |
-1.5 |
-0.5 |
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Income After Tax |
3.9 |
-8.1 |
6.3 |
-1.1 |
-8.5 |
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Minority Interest |
0.0 |
0.3 |
-0.1 |
- |
- |
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Net Income Before Extraord Items |
3.9 |
-7.8 |
6.3 |
-1.1 |
-8.5 |
|
Net Income |
3.9 |
-7.8 |
6.3 |
-1.1 |
-8.5 |
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Income Available to Common Excl Extraord Items |
3.9 |
-7.8 |
6.3 |
-1.1 |
-8.5 |
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Income Available to Common Incl Extraord Items |
3.9 |
-7.8 |
6.3 |
-1.1 |
-8.5 |
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Basic/Primary Weighted Average Shares |
9.4 |
9.5 |
9.5 |
9.4 |
9.3 |
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Basic EPS Excl Extraord Items |
0.41 |
-0.83 |
0.66 |
-0.12 |
-0.91 |
|
Basic/Primary EPS Incl Extraord Items |
0.41 |
-0.83 |
0.66 |
-0.12 |
-0.91 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
3.9 |
-7.8 |
6.3 |
-1.1 |
-8.5 |
|
Diluted Weighted Average Shares |
9.5 |
9.5 |
9.5 |
9.4 |
9.3 |
|
Diluted EPS Excl Extraord Items |
0.41 |
-0.83 |
0.66 |
-0.12 |
-0.91 |
|
Diluted EPS Incl Extraord Items |
0.41 |
-0.83 |
0.66 |
-0.12 |
-0.91 |
|
Dividends per Share - Common Stock Primary Issue |
0.04 |
0.00 |
0.05 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.4 |
0.0 |
0.5 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
2.5 |
2.3 |
2.1 |
1.8 |
2.5 |
|
Depreciation, Supplemental |
1.1 |
1.3 |
1.6 |
1.4 |
1.3 |
|
Total Special Items |
- |
0.1 |
0.4 |
0.2 |
0.0 |
|
Normalized Income Before Tax |
3.4 |
-8.6 |
6.0 |
-2.4 |
-9.0 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
- |
0.0 |
0.1 |
0.1 |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
-0.5 |
-0.6 |
-0.5 |
-1.4 |
-0.5 |
|
Normalized Income After Tax |
3.9 |
-8.0 |
6.6 |
-0.9 |
-8.5 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
3.9 |
-7.8 |
6.5 |
-0.9 |
-8.5 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.41 |
-0.82 |
0.68 |
-0.10 |
-0.91 |
|
Diluted Normalized EPS |
0.41 |
-0.82 |
0.68 |
-0.10 |
-0.91 |
|
Amort of Intangibles, Supplemental |
0.7 |
0.1 |
0.5 |
0.5 |
0.9 |
|
Rental Expenses |
- |
- |
- |
0.1 |
0.2 |
|
Advertising Expense, Supplemental |
- |
- |
0.7 |
0.3 |
1.1 |
|
Research & Development Exp, Supplemental |
- |
- |
8.6 |
5.8 |
9.9 |
|
Normalized EBIT |
5.5 |
-7.4 |
6.4 |
-2.8 |
3.6 |
|
Normalized EBITDA |
7.3 |
-6.0 |
8.5 |
-0.9 |
5.8 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1066.400024 |
1152 |
1134.9 |
1164.475 |
1259.55 |
|
Auditor |
Dasan Accounting
Corp. |
Dasan Accounting
Corp. |
Dasan Accounting
Corp. |
Dasan Accounting
Corp. |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
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Cash & Equivalents |
22.9 |
14.2 |
18.8 |
12.2 |
4.8 |
|
Short Term Investments |
4.1 |
5.1 |
7.7 |
18.6 |
29.5 |
|
Cash and Short Term Investments |
27.0 |
19.3 |
26.5 |
30.8 |
34.3 |
|
Accounts Receivable -
Trade, Gross |
- |
20.2 |
19.5 |
13.9 |
15.3 |
|
Provision for Doubtful
Accounts |
- |
-0.1 |
-0.5 |
-1.1 |
-1.3 |
|
Trade Accounts Receivable - Net |
56.7 |
20.1 |
19.0 |
13.0 |
14.1 |
|
Other Receivables |
- |
0.9 |
1.5 |
1.1 |
0.8 |
|
Total Receivables, Net |
56.7 |
21.0 |
20.5 |
14.0 |
14.9 |
|
Inventories - Finished Goods |
- |
3.1 |
4.2 |
4.4 |
12.7 |
|
Inventories - Work In Progress |
- |
3.7 |
1.6 |
0.4 |
1.0 |
|
Inventories - Raw Materials |
- |
18.5 |
21.5 |
12.1 |
12.5 |
|
Inventories - Other |
- |
0.9 |
0.8 |
2.2 |
2.1 |
|
Total Inventory |
25.4 |
26.2 |
28.1 |
19.2 |
28.3 |
|
Prepaid Expenses |
0.0 |
0.6 |
0.3 |
0.3 |
0.1 |
|
Deferred Income Tax - Current Asset |
- |
- |
- |
1.5 |
0.8 |
|
Other Current Assets |
4.4 |
0.1 |
0.7 |
0.5 |
- |
|
Other Current Assets, Total |
4.4 |
0.1 |
0.7 |
2.0 |
0.8 |
|
Total Current Assets |
113.5 |
67.3 |
76.1 |
66.4 |
78.5 |
|
|
|
|
|
|
|
|
Buildings |
- |
- |
- |
8.7 |
7.4 |
|
Land/Improvements |
- |
- |
- |
8.1 |
6.8 |
|
Machinery/Equipment |
- |
- |
- |
7.4 |
5.8 |
|
Property/Plant/Equipment - Gross |
- |
- |
- |
24.2 |
19.9 |
|
Accumulated Depreciation |
- |
- |
- |
-6.0 |
-4.0 |
|
Property/Plant/Equipment - Net |
13.1 |
12.5 |
13.3 |
18.2 |
15.9 |
|
Intangibles, Net |
2.0 |
1.9 |
1.1 |
0.9 |
1.3 |
|
LT Investment - Affiliate Companies |
- |
2.0 |
- |
0.2 |
0.1 |
|
LT Investments - Other |
5.4 |
5.1 |
5.6 |
0.7 |
0.5 |
|
Long Term Investments |
5.4 |
7.1 |
5.6 |
0.9 |
0.7 |
|
Note Receivable - Long Term |
2.8 |
0.6 |
0.1 |
0.1 |
- |
|
Deferred Income Tax - Long Term Asset |
5.2 |
4.3 |
3.8 |
1.6 |
0.6 |
|
Other Long Term Assets |
0.4 |
2.7 |
2.4 |
0.3 |
0.2 |
|
Other Long Term Assets, Total |
5.6 |
7.0 |
6.2 |
1.8 |
0.8 |
|
Total Assets |
142.4 |
96.5 |
102.6 |
88.2 |
97.1 |
|
|
|
|
|
|
|
|
Accounts Payable |
38.5 |
6.8 |
7.9 |
7.3 |
7.8 |
|
Accrued Expenses |
- |
0.4 |
0.6 |
0.1 |
0.4 |
|
Notes Payable/Short Term Debt |
39.7 |
33.4 |
23.5 |
11.5 |
19.0 |
|
Current Portion - Long Term Debt/Capital Leases |
- |
0.4 |
8.8 |
2.6 |
4.7 |
|
Customer Advances |
- |
2.6 |
3.1 |
6.3 |
4.8 |
|
Other Payables |
- |
3.1 |
4.2 |
4.4 |
4.2 |
|
Other Current Liabilities |
2.7 |
0.1 |
0.0 |
0.1 |
0.3 |
|
Other Current liabilities, Total |
2.7 |
5.8 |
7.3 |
10.8 |
9.3 |
|
Total Current Liabilities |
81.0 |
46.8 |
48.1 |
32.3 |
41.2 |
|
|
|
|
|
|
|
|
Long Term Debt |
8.1 |
4.7 |
0.7 |
10.0 |
12.7 |
|
Total Long Term Debt |
8.1 |
4.7 |
0.7 |
10.0 |
12.7 |
|
Total Debt |
47.9 |
38.5 |
33.1 |
24.2 |
36.4 |
|
|
|
|
|
|
|
|
Minority Interest |
0.0 |
-0.6 |
-0.3 |
- |
- |
|
Reserves |
0.4 |
1.0 |
1.0 |
- |
- |
|
Pension Benefits - Underfunded |
- |
- |
- |
0.8 |
0.6 |
|
Other Long Term Liabilities |
1.2 |
0.9 |
0.5 |
0.8 |
0.8 |
|
Other Liabilities, Total |
1.7 |
1.9 |
1.4 |
1.6 |
1.4 |
|
Total Liabilities |
90.8 |
52.7 |
49.9 |
43.9 |
55.3 |
|
|
|
|
|
|
|
|
Common Stock |
4.7 |
4.4 |
4.4 |
3.6 |
3.4 |
|
Common Stock |
4.7 |
4.4 |
4.4 |
3.6 |
3.4 |
|
Additional Paid-In Capital |
- |
25.5 |
25.9 |
26.0 |
23.9 |
|
Retained Earnings (Accumulated Deficit) |
23.3 |
17.9 |
26.4 |
20.1 |
19.7 |
|
Treasury Stock - Common |
- |
-4.5 |
-4.5 |
-5.0 |
-4.7 |
|
Unrealized Gain (Loss) |
- |
- |
0.0 |
-0.6 |
-0.7 |
|
Translation Adjustment |
- |
0.5 |
0.5 |
0.2 |
0.1 |
|
Other Equity |
22.7 |
0.0 |
0.0 |
- |
- |
|
Other Comprehensive Income |
0.9 |
- |
0.0 |
- |
- |
|
Other Equity, Total |
23.6 |
0.5 |
0.5 |
0.2 |
0.1 |
|
Total Equity |
51.7 |
43.7 |
52.7 |
44.3 |
41.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
142.4 |
96.5 |
102.6 |
88.2 |
97.1 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
9.4 |
9.4 |
9.5 |
9.4 |
9.4 |
|
Total Common Shares Outstanding |
9.4 |
9.4 |
9.5 |
9.4 |
9.4 |
|
Treasury Shares - Common Stock Primary Issue |
0.6 |
0.6 |
0.6 |
0.8 |
0.8 |
|
Employees |
- |
180 |
216 |
194 |
185 |
|
Number of Common Shareholders |
- |
- |
3,475 |
2,813 |
2,853 |
|
Deferred Revenue - Current |
- |
2.6 |
3.1 |
6.3 |
4.8 |
|
Total Long Term Debt, Supplemental |
- |
5.1 |
9.6 |
4.0 |
4.8 |
|
Long Term Debt Maturing within 1 Year |
- |
0.4 |
8.8 |
2.6 |
0.0 |
|
Long Term Debt Maturing in Year 2 |
- |
1.2 |
0.2 |
1.5 |
2.5 |
|
Long Term Debt Maturing in Year 3 |
- |
1.2 |
0.2 |
- |
1.5 |
|
Long Term Debt Maturing in Year 4 |
- |
1.2 |
0.2 |
- |
- |
|
Long Term Debt Maturing in Year 5 |
- |
1.2 |
0.2 |
- |
- |
|
Long Term Debt Maturing in 2-3 Years |
- |
2.4 |
0.4 |
1.5 |
4.0 |
|
Long Term Debt Maturing in 4-5 Years |
- |
2.4 |
0.4 |
- |
- |
|
Long Term Debt Matur. in Year 6 & Beyond |
- |
0.0 |
0.0 |
0.0 |
0.8 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1126.848795 |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
|
Auditor |
Dasan Accounting
Corp. |
Dasan Accounting
Corp. |
Dasan Accounting
Corp. |
Dasan Accounting
Corp. |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
- |
-8.1 |
6.3 |
-1.1 |
-8.5 |
|
Depreciation |
- |
1.4 |
1.6 |
1.4 |
1.3 |
|
Depreciation/Depletion |
- |
1.4 |
1.6 |
1.4 |
1.3 |
|
Amortization of Intangibles |
- |
0.1 |
0.5 |
0.5 |
0.9 |
|
Amortization |
- |
0.1 |
0.5 |
0.5 |
0.9 |
|
Deferred Taxes |
- |
- |
- |
-1.5 |
-0.6 |
|
Unusual Items |
- |
-0.3 |
0.0 |
0.7 |
0.7 |
|
Equity in Net Earnings (Loss) |
- |
0.1 |
- |
-0.1 |
0.3 |
|
Other Non-Cash Items |
- |
0.5 |
-1.2 |
-1.1 |
9.7 |
|
Non-Cash Items |
- |
0.3 |
-1.3 |
-0.5 |
10.7 |
|
Accounts Receivable |
- |
-1.0 |
-0.5 |
8.1 |
-2.1 |
|
Inventories |
- |
1.5 |
-7.0 |
9.8 |
-5.3 |
|
Prepaid Expenses |
- |
-0.4 |
0.2 |
-0.2 |
0.2 |
|
Accounts Payable |
- |
-2.1 |
0.1 |
-7.4 |
10.5 |
|
Accrued Expenses |
- |
-0.1 |
0.0 |
-0.3 |
0.6 |
|
Other Liabilities |
- |
-0.2 |
-3.7 |
0.3 |
2.6 |
|
Other Operating Cash Flow |
-1.4 |
-1.7 |
-1.5 |
- |
- |
|
Changes in Working Capital |
-1.4 |
-4.2 |
-12.4 |
10.3 |
6.5 |
|
Cash from Operating Activities |
-1.4 |
-10.4 |
-5.2 |
9.2 |
10.4 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-1.0 |
-1.1 |
-0.9 |
-2.3 |
-7.5 |
|
Purchase/Acquisition of Intangibles |
-0.7 |
-1.0 |
-0.9 |
0.0 |
-0.7 |
|
Capital Expenditures |
-1.7 |
-2.1 |
-1.8 |
-2.4 |
-8.1 |
|
Sale of Fixed Assets |
- |
- |
0.0 |
- |
0.9 |
|
Sale/Maturity of Investment |
10.0 |
6.8 |
16.7 |
108.5 |
0.2 |
|
Purchase of Investments |
-6.5 |
-5.5 |
-4.5 |
-96.2 |
-28.3 |
|
Sale of Intangible Assets |
- |
- |
- |
- |
0.0 |
|
Other Investing Cash Flow |
-2.3 |
0.3 |
-0.9 |
-0.1 |
-7.6 |
|
Other Investing Cash Flow Items, Total |
1.1 |
1.5 |
11.3 |
12.1 |
-34.7 |
|
Cash from Investing Activities |
-0.6 |
-0.5 |
9.4 |
9.8 |
-42.9 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
1.2 |
1.2 |
0.6 |
0.5 |
0.6 |
|
Financing Cash Flow Items |
1.2 |
1.2 |
0.6 |
0.5 |
0.6 |
|
Total Cash Dividends Paid |
- |
-0.5 |
- |
- |
-0.8 |
|
Sale/Issuance of
Common |
- |
0.3 |
- |
0.1 |
9.1 |
|
Repurchase/Retirement
of Common |
- |
-0.5 |
- |
- |
-2.6 |
|
Common Stock, Net |
- |
-0.2 |
- |
0.1 |
6.5 |
|
Options Exercised |
- |
- |
- |
0.0 |
0.1 |
|
Issuance (Retirement) of Stock, Net |
- |
-0.2 |
- |
0.1 |
6.5 |
|
Short Term Debt Issued |
57.8 |
20.3 |
8.3 |
10.5 |
12.3 |
|
Short Term Debt
Reduction |
-53.4 |
-9.9 |
-4.1 |
-17.9 |
- |
|
Short Term Debt, Net |
4.4 |
10.5 |
4.1 |
-7.4 |
12.3 |
|
Long Term Debt Issued |
3.5 |
4.4 |
- |
- |
14.5 |
|
Long Term Debt
Reduction |
-0.4 |
-9.0 |
-3.3 |
-5.7 |
-5.1 |
|
Long Term Debt, Net |
3.2 |
-4.6 |
-3.3 |
-5.7 |
9.5 |
|
Issuance (Retirement) of Debt, Net |
7.5 |
5.9 |
0.8 |
-13.1 |
21.8 |
|
Cash from Financing Activities |
8.7 |
6.4 |
1.4 |
-12.6 |
28.2 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.4 |
0.0 |
0.5 |
- |
- |
|
Net Change in Cash |
7.2 |
-4.6 |
6.1 |
6.4 |
-4.3 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
14.7 |
19.6 |
12.7 |
4.9 |
9.9 |
|
Net Cash - Ending Balance |
21.9 |
15.0 |
18.8 |
11.3 |
5.6 |
|
Cash Interest Paid |
2.4 |
2.3 |
2.1 |
- |
- |
|
Cash Taxes Paid |
0.0 |
0.0 |
0.0 |
- |
- |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1126.848795 |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
|
Auditor |
Dasan Accounting
Corp. |
Dasan Accounting
Corp. |
Dasan Accounting
Corp. |
Dasan Accounting
Corp. |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Finished Products |
- |
- |
- |
113.6 |
150.2 |
|
Merchandise Revenues |
- |
- |
- |
2.4 |
0.2 |
|
Sales Revenue |
170.3 |
114.9 |
192.9 |
- |
- |
|
Total Revenue |
170.3 |
114.9 |
192.9 |
115.9 |
150.4 |
|
|
|
|
|
|
|
|
Cost of Finish. Good |
- |
- |
- |
93.3 |
113.2 |
|
Cost-Merchandise |
- |
- |
- |
2.5 |
0.4 |
|
Salaries & Wages |
4.3 |
4.8 |
4.6 |
3.7 |
5.0 |
|
Retirement & Severance Benefits |
0.4 |
0.3 |
0.9 |
0.2 |
0.2 |
|
Stock Compensation |
- |
- |
- |
0.0 |
0.1 |
|
Employee Benefits |
0.8 |
0.9 |
0.7 |
0.6 |
0.6 |
|
Travel Expense |
1.4 |
1.5 |
2.3 |
1.9 |
1.7 |
|
Entertainment Expense |
0.2 |
0.3 |
0.3 |
0.2 |
0.2 |
|
Communication Exp. |
- |
- |
- |
0.2 |
0.2 |
|
Utility Expense |
- |
- |
- |
0.1 |
0.1 |
|
Taxes and Dues |
- |
- |
- |
0.2 |
0.4 |
|
Expense of Allow. for DA |
0.0 |
0.1 |
0.0 |
0.2 |
1.2 |
|
Depreciation |
0.9 |
1.1 |
1.2 |
1.0 |
0.9 |
|
Rent |
- |
- |
- |
0.1 |
0.2 |
|
Repair Expense |
0.0 |
3.3 |
2.4 |
0.9 |
1.3 |
|
Insurance Expense |
- |
- |
- |
0.1 |
0.1 |
|
Vehicles Maintenance Expense |
- |
- |
- |
0.1 |
0.1 |
|
R & D Expense |
7.8 |
8.3 |
8.6 |
5.8 |
9.9 |
|
Shipping & Handling Expense |
0.2 |
0.3 |
0.4 |
0.2 |
0.3 |
|
Education & Training Expense |
- |
- |
- |
0.0 |
0.0 |
|
Publishing & Printing Expense |
- |
- |
- |
0.0 |
0.0 |
|
Office Supplies Expense |
- |
- |
- |
0.0 |
0.0 |
|
Consumable Expense |
- |
- |
- |
0.1 |
0.2 |
|
Commissions |
2.6 |
1.9 |
3.1 |
2.1 |
2.1 |
|
Advertising Expense |
0.7 |
0.6 |
0.7 |
0.3 |
1.1 |
|
Building Maintenance Expense |
- |
- |
- |
0.0 |
0.0 |
|
Amort of Intangibles |
- |
- |
- |
0.5 |
0.9 |
|
Expenses for Samples |
- |
- |
- |
0.4 |
0.3 |
|
Other Exporting Related Expense |
2.4 |
1.9 |
3.3 |
1.7 |
2.5 |
|
Sales Commissions |
2.1 |
0.5 |
0.1 |
2.5 |
3.5 |
|
Miscellaneous Operating Expense |
- |
- |
- |
0.0 |
0.1 |
|
Costs of Goods & Services Sold |
139.3 |
95.3 |
155.8 |
- |
- |
|
Other Administrative Expense |
1.9 |
1.2 |
1.5 |
- |
- |
|
Adj.-Administrative Expenses |
- |
0.0 |
0.0 |
- |
- |
|
Other Selling Expense |
0.0 |
0.0 |
0.1 |
- |
- |
|
Adj.-Selling Expenses |
0.0 |
0.0 |
- |
- |
- |
|
Adj.-Distribution Expense |
0.0 |
0.0 |
0.0 |
- |
- |
|
Gain on Disposal of ST Financial Instrum |
- |
- |
-0.2 |
- |
- |
|
Gain on Valuation of ST Financial Instru |
- |
- |
-0.5 |
- |
- |
|
Reversal of Allow. for DA |
- |
- |
-0.7 |
- |
- |
|
Gain on Disposal of LT Fincl Instrm |
- |
- |
0.0 |
- |
- |
|
Rental Income |
- |
- |
-0.4 |
- |
- |
|
Miscellaneous Income |
- |
- |
-0.4 |
- |
- |
|
Adj. for Other Operating Income |
- |
- |
0.0 |
- |
- |
|
Loss on Scrapping of Inventory |
- |
- |
0.2 |
- |
- |
|
Loss on Disposal of LT Financial Instrum |
- |
- |
0.3 |
- |
- |
|
Impmt Loss on Intangibless |
- |
- |
0.2 |
- |
- |
|
Miscellaneous Loss |
- |
- |
0.0 |
- |
- |
|
Other Operating Expense |
- |
- |
2.0 |
- |
- |
|
Adj. for Other Operating Expense |
- |
- |
0.0 |
- |
- |
|
Total Operating Expense |
164.9 |
122.3 |
186.4 |
118.8 |
146.8 |
|
|
|
|
|
|
|
|
Interest Income |
0.4 |
0.5 |
0.5 |
0.6 |
0.8 |
|
Gain-Disposal of Tangible Assets |
- |
- |
- |
- |
0.1 |
|
Dividend Income |
- |
0.1 |
- |
- |
- |
|
Gain on Foreign Currency Transaction |
4.0 |
5.3 |
5.8 |
6.5 |
9.2 |
|
Gain on Foreign Currency Translation |
2.0 |
0.6 |
1.0 |
1.4 |
5.0 |
|
Rental Income |
- |
- |
- |
0.4 |
0.4 |
|
Gain on Currency Forwards Transaction |
0.1 |
0.6 |
0.8 |
0.3 |
0.0 |
|
Gain on Valt of Currency Forward |
- |
0.1 |
0.7 |
0.5 |
- |
|
Gain-Disposal of Sec. Available-Sale |
- |
- |
- |
0.0 |
- |
|
Gain on Disposal of ST Fincl Instrm |
0.0 |
0.6 |
- |
- |
- |
|
Gain on Valuation of ST Fincl Instrm |
- |
0.1 |
- |
- |
- |
|
Gain on Disposal of LT Fincl Instrm |
- |
0.0 |
- |
- |
- |
|
Gain on Disposal of Invmt in Affiliates |
0.1 |
- |
- |
- |
- |
|
Rec. of Allow. for DA |
- |
0.1 |
- |
- |
- |
|
Miscellaneous Income |
0.3 |
0.5 |
- |
0.1 |
0.2 |
|
Interest Expense |
-2.5 |
-2.3 |
-2.1 |
-1.8 |
-2.5 |
|
Loss-Disposal of Tangible Assets |
- |
- |
- |
- |
0.0 |
|
Loss on Foreign Currency Transaction |
-3.9 |
-6.5 |
-6.3 |
-4.4 |
-12.1 |
|
Loss on Scrapping of Inventory |
- |
-0.1 |
- |
-0.2 |
-0.1 |
|
Loss-Valuation of Currency Forwards |
- |
- |
- |
0.0 |
- |
|
Loss-Currency Forwards Transaction |
0.0 |
-0.3 |
-0.7 |
-0.1 |
-7.3 |
|
Loss-Valuation of ST Marketable Sec. |
- |
- |
- |
-0.1 |
- |
|
Loss-Disposal of Investment Assets |
- |
- |
- |
0.0 |
- |
|
Loss on Foreign Currency Translation |
-2.3 |
-0.7 |
-0.6 |
-1.5 |
-3.7 |
|
Loss-Reduct. of Sec. Available-Sale |
- |
- |
- |
- |
-0.3 |
|
Loss on Disposal of ST Fincl Instrm |
-0.1 |
- |
- |
- |
- |
|
Loss on Reduction of ST Fincl Instrm |
- |
-0.1 |
- |
- |
- |
|
Loss on Valuation of ST Fincl Instrm |
0.0 |
-0.2 |
- |
- |
- |
|
Other Allow. for DA |
-0.2 |
- |
- |
- |
- |
|
Gain under Equity Method |
- |
- |
- |
0.1 |
- |
|
Loss under Equity Method |
- |
- |
- |
- |
-0.3 |
|
Miscellaneous Loss |
0.0 |
0.0 |
- |
0.0 |
0.0 |
|
Other Non-Operating Expense |
- |
- |
- |
-1.6 |
-1.9 |
|
Gain/Loss under Equity Method |
- |
-0.1 |
- |
- |
- |
|
Adj. for Finance Income |
- |
0.0 |
0.0 |
- |
- |
|
Adj. for Finance Expense |
0.0 |
0.0 |
- |
- |
- |
|
Adj. for Other Non-Operating Income |
0.0 |
0.5 |
- |
- |
- |
|
Adj. for Other Non-Operating Expense |
0.0 |
0.0 |
- |
- |
- |
|
Net Income Before Taxes |
3.4 |
-8.7 |
5.6 |
-2.6 |
-9.0 |
|
|
|
|
|
|
|
|
Prov. for Income Taxes |
-0.5 |
-0.6 |
-0.7 |
-1.5 |
-0.5 |
|
Net Income After Taxes |
3.9 |
-8.1 |
6.3 |
-1.1 |
-8.5 |
|
|
|
|
|
|
|
|
Minority Interest |
0.0 |
0.3 |
-0.1 |
- |
- |
|
Net Income Before Extra. Items |
3.9 |
-7.8 |
6.3 |
-1.1 |
-8.5 |
|
Net Income |
3.9 |
-7.8 |
6.3 |
-1.1 |
-8.5 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
3.9 |
-7.8 |
6.3 |
-1.1 |
-8.5 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
3.9 |
-7.8 |
6.3 |
-1.1 |
-8.5 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
9.4 |
9.5 |
9.5 |
9.4 |
9.3 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.41 |
-0.83 |
0.66 |
-0.12 |
-0.91 |
|
Basic EPS Including ExtraOrdinary Items |
0.41 |
-0.83 |
0.66 |
-0.12 |
-0.91 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
3.9 |
-7.8 |
6.3 |
-1.1 |
-8.5 |
|
Diluted Weighted Average Shares |
9.5 |
9.5 |
9.5 |
9.4 |
9.3 |
|
Diluted EPS Excluding ExtraOrd Items |
0.41 |
-0.83 |
0.66 |
-0.12 |
-0.91 |
|
Diluted EPS Including ExtraOrd Items |
0.41 |
-0.83 |
0.66 |
-0.12 |
-0.91 |
|
DPS-Common Stock |
0.04 |
0.00 |
0.05 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.4 |
0.0 |
0.5 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
3.4 |
-8.6 |
6.0 |
-2.4 |
-9.0 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
-0.5 |
-0.6 |
-0.5 |
-1.4 |
-0.5 |
|
Normalized Income After Taxes |
3.9 |
-8.0 |
6.6 |
-0.9 |
-8.5 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
3.9 |
-7.8 |
6.5 |
-0.9 |
-8.5 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.41 |
-0.82 |
0.68 |
-0.10 |
-0.91 |
|
Diluted Normalized EPS |
0.41 |
-0.82 |
0.68 |
-0.10 |
-0.91 |
|
Depreciation, Supplemental |
1.1 |
1.3 |
1.6 |
1.4 |
1.3 |
|
Amort of Intangibles, Supplemental |
0.7 |
0.1 |
0.5 |
0.5 |
0.9 |
|
Rental Expense, Supplemental |
- |
- |
- |
0.1 |
0.2 |
|
Advertising Expense, Supplemental |
- |
- |
0.7 |
0.3 |
1.1 |
|
R&D Expense, Supplemental |
- |
- |
8.6 |
5.8 |
9.9 |
|
Interest Expense, Supplemental |
2.5 |
2.3 |
2.1 |
1.8 |
2.5 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1066.400024 |
1152 |
1134.9 |
1164.475 |
1259.55 |
|
Auditor |
Dasan Accounting
Corp. |
Dasan Accounting
Corp. |
Dasan Accounting
Corp. |
Dasan Accounting
Corp. |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Cash Equivalents |
22.9 |
14.2 |
18.8 |
12.2 |
4.8 |
|
Trade Rcvbls, Gross |
- |
20.2 |
19.5 |
13.9 |
15.3 |
|
Current Fincl Assets |
4.1 |
5.1 |
7.7 |
- |
- |
|
ST Marketable Securities |
- |
- |
- |
3.6 |
- |
|
Allow. for DA |
- |
-0.1 |
-0.5 |
-1.1 |
-1.3 |
|
Account Receivable |
- |
0.7 |
1.2 |
0.7 |
0.6 |
|
Advance Payments |
- |
0.9 |
0.8 |
2.2 |
2.1 |
|
ST Financial Assets |
- |
- |
- |
15.0 |
29.5 |
|
Current Loans |
- |
0.2 |
0.3 |
0.3 |
0.2 |
|
Current Derivative Assets |
- |
0.1 |
0.7 |
0.5 |
- |
|
Prepaid Expense |
- |
0.6 |
0.2 |
0.3 |
0.0 |
|
Current Tax Assets |
0.0 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Deferred Income Tax |
- |
- |
- |
1.5 |
0.8 |
|
Accrued Income |
- |
0.0 |
0.1 |
0.1 |
0.2 |
|
Merchandises |
- |
- |
0.0 |
0.1 |
0.0 |
|
Finished Goods |
- |
3.2 |
3.1 |
3.3 |
11.5 |
|
Allow. for Loss-Valt of Finished Goods |
- |
-0.1 |
-0.3 |
- |
- |
|
Works in Process |
- |
3.7 |
1.6 |
0.4 |
1.0 |
|
Allowance for Loss on Valuation of Works |
- |
0.0 |
-0.1 |
- |
- |
|
Raw Materials |
- |
20.3 |
22.4 |
12.1 |
12.5 |
|
Allow. for Loss on Valt of Raw Materials |
- |
-1.7 |
-0.8 |
- |
- |
|
Goods in Transit |
- |
- |
1.5 |
1.1 |
1.2 |
|
Adj. for Trade & Other Receivable |
- |
- |
- |
- |
- |
|
Adj. for Other Current Assets |
- |
- |
- |
- |
- |
|
Adj. for Inventories |
- |
- |
0.0 |
- |
- |
|
Trade & Other Receivable |
56.7 |
- |
- |
- |
- |
|
Other Current Assets |
4.4 |
- |
- |
- |
- |
|
Inventories |
25.4 |
- |
- |
- |
- |
|
Total Current Assets |
113.5 |
67.3 |
76.1 |
66.4 |
78.5 |
|
|
|
|
|
|
|
|
Non-Current Fincl Assets |
0.1 |
0.1 |
0.5 |
0.1 |
0.1 |
|
Securities Available for Sale |
- |
- |
- |
0.6 |
0.5 |
|
Guarantee Deposits, Non-Current Assets |
- |
2.3 |
2.0 |
0.3 |
0.1 |
|
Non-Current Loans |
- |
0.6 |
0.1 |
0.1 |
- |
|
Non-Current Trade Receivable |
- |
0.5 |
- |
- |
- |
|
Allowance for Doubtful Accounts -Non-Cur |
- |
-0.5 |
- |
- |
- |
|
Invmt in Properties |
5.3 |
5.0 |
5.2 |
- |
- |
|
Invmt in Affiliates |
- |
2.0 |
- |
0.2 |
0.1 |
|
Other Non-Current Assets |
0.4 |
0.4 |
0.4 |
- |
0.1 |
|
Non-Current Deferred Income Taxes Assets |
5.2 |
4.3 |
3.8 |
1.6 |
0.6 |
|
Land |
- |
- |
- |
8.1 |
6.8 |
|
Buildings |
- |
- |
- |
8.7 |
7.4 |
|
Buildings-Depreciation |
- |
- |
- |
-0.5 |
-0.2 |
|
Tools & Equipments |
- |
- |
- |
2.3 |
1.8 |
|
Tools & Equipments-Depreciation |
- |
- |
- |
-2.0 |
-1.4 |
|
Tools & Equipments-Government Subsidy |
- |
- |
- |
-0.1 |
-0.2 |
|
Machinery/Equip. |
- |
- |
- |
0.1 |
0.1 |
|
Depr-Mach/Equip. |
- |
- |
- |
-0.1 |
-0.1 |
|
Transport Equip. |
- |
- |
- |
0.2 |
0.1 |
|
Deprec-Transport |
- |
- |
- |
-0.1 |
0.0 |
|
Moldings |
- |
- |
- |
2.6 |
2.0 |
|
Moldings-Depreciation |
- |
- |
- |
-1.7 |
-1.1 |
|
Moldings-Reduction |
- |
- |
- |
0.0 |
0.0 |
|
Fixtures |
- |
- |
- |
2.4 |
2.0 |
|
Fixtures-Depreciation |
- |
- |
- |
-1.7 |
-1.2 |
|
Fixtures-Government Subsidy |
- |
- |
- |
0.0 |
0.0 |
|
Other Intangibless |
- |
1.1 |
0.6 |
0.7 |
1.1 |
|
Other Intangible-Government Subsidary |
- |
- |
- |
0.0 |
- |
|
Software |
- |
0.9 |
0.5 |
0.2 |
0.2 |
|
Government Subsidy, Total |
- |
-0.1 |
0.0 |
0.0 |
- |
|
Industrial Property Rights |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Property, Plant & Equipment, Net |
13.1 |
12.5 |
13.3 |
- |
- |
|
Adj. for LT Trade & Other Receivable |
- |
0.0 |
0.0 |
- |
- |
|
Adj. for Intangibless |
- |
- |
0.0 |
- |
- |
|
Non-Current Trade & Other Receivable |
2.8 |
- |
- |
- |
- |
|
Intangibless |
2.0 |
- |
- |
- |
- |
|
Total Assets |
142.4 |
96.5 |
102.6 |
88.2 |
97.1 |
|
|
|
|
|
|
|
|
Current Trade Payable |
- |
6.8 |
7.9 |
7.3 |
7.8 |
|
Other Payable |
- |
3.1 |
4.2 |
4.4 |
4.2 |
|
Accrued Expenses |
- |
0.4 |
0.6 |
0.1 |
0.4 |
|
Advance from Customers, Current |
- |
2.6 |
3.1 |
6.3 |
4.8 |
|
Withheld |
- |
0.1 |
0.0 |
0.1 |
0.3 |
|
Current Borrowings |
39.7 |
33.4 |
23.5 |
11.5 |
19.0 |
|
Current portion of LT borrowings |
- |
- |
- |
2.6 |
- |
|
Current Portion of Long-term Liabilities |
- |
0.4 |
8.8 |
- |
4.7 |
|
Adj. for Current Trade & Other Payable |
- |
0.0 |
0.0 |
- |
- |
|
Adj. for Current Borrowings |
- |
- |
0.0 |
- |
- |
|
Adj. for Other Current Liabilities |
- |
0.0 |
- |
- |
- |
|
Trade & Other Payable |
38.5 |
- |
- |
- |
- |
|
Other Current Liabilities |
2.7 |
- |
- |
- |
- |
|
Total Current Liability |
81.0 |
46.8 |
48.1 |
32.3 |
41.2 |
|
|
|
|
|
|
|
|
Bonds |
8.1 |
4.3 |
- |
8.6 |
7.9 |
|
Non-Current Borrowings |
- |
0.4 |
0.7 |
1.5 |
4.8 |
|
Total Long Term Debt |
8.1 |
4.7 |
0.7 |
10.0 |
12.7 |
|
|
|
|
|
|
|
|
LT Account Payable |
- |
- |
- |
0.3 |
0.5 |
|
Other Non-Current Liabilities |
1.2 |
0.9 |
0.5 |
0.4 |
0.3 |
|
Retirement Resrv |
- |
- |
- |
1.3 |
0.6 |
|
Deposit-Retirement Insurance |
- |
- |
- |
-0.6 |
- |
|
Resv for Sales Guarantee |
0.4 |
1.0 |
1.0 |
- |
- |
|
Minority Interests |
0.0 |
-0.6 |
-0.3 |
- |
- |
|
Total Liabilities |
90.8 |
52.7 |
49.9 |
43.9 |
55.3 |
|
|
|
|
|
|
|
|
Capital Stock |
4.7 |
4.4 |
4.4 |
3.6 |
3.4 |
|
Additional Paid in Capital |
- |
24.2 |
24.5 |
24.6 |
22.7 |
|
Losses on Disposal of Treasury Stock |
- |
-0.1 |
-0.1 |
0.0 |
0.0 |
|
Other Capital Surplus |
- |
0.9 |
0.9 |
0.9 |
0.8 |
|
Legal Reserve |
- |
- |
- |
0.2 |
0.2 |
|
Capital Change, Equity Method |
- |
- |
- |
0.0 |
0.0 |
|
Retained Earning Carried Forward |
- |
- |
- |
20.0 |
19.6 |
|
Loss on Valuation of Securities Availabl |
- |
- |
0.0 |
-0.6 |
-0.7 |
|
Stock Options |
- |
0.5 |
0.5 |
0.5 |
0.5 |
|
Overseas Business Translation Credit |
- |
0.5 |
0.5 |
0.2 |
0.1 |
|
Treasury Stock |
- |
-4.5 |
-4.5 |
-5.0 |
-4.7 |
|
Retained Earnings |
23.3 |
17.9 |
26.4 |
- |
- |
|
Adj. for Other Capital |
- |
0.0 |
0.0 |
- |
- |
|
Adj.-Accum. Other Comprehensive Income |
- |
- |
0.0 |
- |
- |
|
Other Capital |
22.7 |
- |
- |
- |
- |
|
Accumulated Other Comprehensive Income |
0.9 |
- |
- |
- |
- |
|
Total Equity |
51.7 |
43.7 |
52.7 |
44.3 |
41.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
142.4 |
96.5 |
102.6 |
88.2 |
97.1 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
9.4 |
9.4 |
9.5 |
9.4 |
9.4 |
|
Total Common Shares Outstanding |
9.4 |
9.4 |
9.5 |
9.4 |
9.4 |
|
T/S-Common Stock |
0.6 |
0.6 |
0.6 |
0.8 |
0.8 |
|
Deferred Revenue, Current |
- |
2.6 |
3.1 |
6.3 |
4.8 |
|
Full-Time Employees |
- |
180 |
216 |
194 |
185 |
|
Number of Shareholders |
- |
- |
3,475 |
2,813 |
2,853 |
|
LT Debt Maturing within One Year |
- |
0.4 |
8.8 |
2.6 |
0.0 |
|
LT Debt Maturing within Two Years |
- |
- |
- |
1.5 |
2.5 |
|
LT Debt Maturing within Three Years |
- |
- |
- |
- |
1.5 |
|
Long Term Debt Maturing in Year 5 |
- |
4.7 |
0.7 |
- |
- |
|
LT Debt - Remaining Maturities |
- |
- |
- |
- |
0.8 |
|
Total Long Term Debt, Supplemental |
- |
5.1 |
9.6 |
4.0 |
4.8 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1126.848795 |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
|
Auditor |
Dasan Accounting
Corp. |
Dasan Accounting
Corp. |
Dasan Accounting
Corp. |
Dasan Accounting
Corp. |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income or Loss |
- |
-8.1 |
6.3 |
-1.1 |
-8.5 |
|
Depreciation |
- |
1.4 |
1.6 |
1.4 |
1.3 |
|
Amort. of Intangibless |
- |
0.1 |
0.5 |
0.5 |
0.9 |
|
Stock Compensation |
- |
- |
- |
0.0 |
0.1 |
|
Expense of Allow. for DA |
- |
0.1 |
0.0 |
0.2 |
1.2 |
|
Retirement Allowance |
- |
- |
- |
0.5 |
0.7 |
|
Salaries |
- |
- |
0.5 |
- |
- |
|
Losses on Foreign Currency Translation |
- |
0.2 |
- |
0.0 |
3.7 |
|
Gain-Disposal of Tangible Assets |
- |
- |
- |
- |
-0.1 |
|
Interest Income |
- |
-0.5 |
-0.5 |
- |
0.0 |
|
Dividend Income |
- |
-0.1 |
- |
- |
- |
|
Government Subsidy |
- |
-0.5 |
-0.4 |
-0.3 |
- |
|
Loss-Valuation of Inventory |
- |
- |
- |
0.4 |
0.5 |
|
Loss-Valuation of Currency Futures |
- |
- |
- |
0.0 |
- |
|
Loss on Valt of Current Trading Sec. |
- |
0.2 |
- |
0.1 |
- |
|
Loss on Disposal of Securities Available |
- |
- |
0.3 |
- |
0.3 |
|
Loss on Currency Forward Transactions |
- |
0.3 |
0.7 |
0.1 |
7.3 |
|
Loss on Scraping of Inventory |
- |
0.1 |
0.2 |
0.2 |
0.1 |
|
Loss-Investment Assets Disposal |
- |
- |
- |
0.0 |
- |
|
Loss-Disposal of Tangible Assets |
- |
- |
- |
- |
0.0 |
|
Impmt Loss on Intangibless |
- |
- |
0.2 |
- |
- |
|
Impmt Losses on Non-Current Invmt Sec. |
- |
0.1 |
- |
- |
- |
|
Loss under Equity Method |
- |
- |
- |
- |
0.3 |
|
Interest Expenses |
- |
2.3 |
2.1 |
0.0 |
0.4 |
|
Corporate Taxes Expense |
- |
-0.6 |
-0.7 |
- |
- |
|
Loss-Foreign Exchange Transaction |
- |
- |
- |
- |
1.3 |
|
Gains on Foreign Currency Translation |
- |
- |
-0.7 |
-0.8 |
-5.0 |
|
Rec. of Allow. for DA |
- |
0.0 |
-0.7 |
- |
- |
|
Gain on Disposal of Current Trading Secu |
- |
-0.6 |
-0.2 |
- |
- |
|
Gain on Valt of Current Trading Sec. |
- |
-0.1 |
-0.5 |
- |
- |
|
Gain on Disposal of Securities Available |
- |
0.0 |
0.0 |
0.0 |
- |
|
Gain on Valt of Currency Forwards |
- |
-0.1 |
-0.7 |
-0.5 |
- |
|
Gain on Currency Forwards Transactions |
- |
-0.6 |
-0.8 |
-0.3 |
0.0 |
|
Gain under Equity Method |
- |
- |
- |
-0.1 |
- |
|
Subsidiaries & Associates Equity Method |
- |
0.1 |
- |
- |
- |
|
Trade Receivables |
- |
-5.4 |
0.0 |
8.0 |
-2.4 |
|
Non-Current Trade Receivables |
- |
3.8 |
- |
- |
- |
|
Accrued Income |
- |
0.0 |
- |
0.0 |
-0.1 |
|
Account Receivables |
- |
0.6 |
-0.4 |
0.0 |
0.4 |
|
Prepaid Expenses |
- |
-0.4 |
0.2 |
-0.2 |
0.0 |
|
Advance Payments |
- |
-0.1 |
1.5 |
0.1 |
-0.3 |
|
Corporate Tax Refundable |
- |
- |
- |
0.0 |
0.2 |
|
Inventory |
- |
1.6 |
-8.5 |
9.7 |
-5.0 |
|
Deferred Taxes-Asset |
- |
- |
- |
-1.5 |
-0.6 |
|
Trade Payable |
- |
-1.0 |
0.5 |
-7.0 |
8.2 |
|
Other Payable |
- |
-1.1 |
-0.3 |
-0.3 |
2.0 |
|
LT Account Payable |
- |
- |
- |
-0.2 |
0.2 |
|
Accrued Expenses |
- |
-0.1 |
0.0 |
-0.3 |
0.6 |
|
Advance from Customers |
- |
-0.4 |
-3.3 |
0.9 |
3.0 |
|
Withholdings |
- |
0.1 |
-0.1 |
-0.2 |
0.0 |
|
Payment for Retirement Allow. |
- |
- |
-1.5 |
-0.2 |
-0.6 |
|
Deposit for Retirement Insurance |
- |
- |
0.6 |
-0.1 |
0.2 |
|
Prov. for Sales Guarantee |
- |
0.1 |
0.6 |
- |
- |
|
Adj. for Cash Flow from Operations |
- |
0.0 |
0.0 |
- |
- |
|
Cash-Interest Received |
0.3 |
0.5 |
0.6 |
- |
- |
|
Cash-Interest Paid |
-2.4 |
-2.3 |
-2.1 |
- |
- |
|
Cash-Dividend Income |
- |
0.1 |
- |
- |
- |
|
Cash-Tax Refunded |
0.0 |
0.0 |
0.0 |
- |
- |
|
Cash Flow from Operating Activities |
0.7 |
- |
- |
- |
- |
|
Cash From Operating Activities |
-1.4 |
-10.4 |
-5.2 |
9.2 |
10.4 |
|
|
|
|
|
|
|
|
Disposal of Current Financial Instrument |
5.3 |
0.0 |
12.5 |
107.9 |
- |
|
Decrease-LT Financial Assets |
- |
- |
- |
- |
0.2 |
|
Decrease-Currency Forwards |
0.2 |
1.1 |
0.6 |
0.3 |
0.0 |
|
Disposal-Securities Available-for-Sale |
- |
0.4 |
0.9 |
0.5 |
- |
|
Decrease-Other Investment Assets |
- |
- |
- |
0.1 |
- |
|
Disposal-ST Marketable Securities |
2.5 |
6.3 |
3.3 |
- |
- |
|
Sale of Invmt in Affiliates |
2.2 |
- |
- |
- |
- |
|
Disposal in Current Loans |
0.6 |
0.0 |
0.1 |
0.0 |
0.0 |
|
Decrease in Non-Current Loans |
0.1 |
0.1 |
0.2 |
- |
- |
|
Decrease in Guarantee Deposit |
1.4 |
0.1 |
- |
0.3 |
0.4 |
|
Disposal-Land |
- |
- |
- |
- |
0.2 |
|
Disposal-Buildings |
- |
- |
- |
- |
0.7 |
|
Disposal-Vehicles |
- |
- |
- |
- |
0.0 |
|
Disposal-Supplies |
- |
- |
- |
- |
0.0 |
|
Disposal of Property, Plant and Equipmen |
- |
- |
0.0 |
- |
- |
|
Disposal-Other Intangible Assets |
- |
- |
- |
- |
0.0 |
|
Increase in Current Loans |
-3.3 |
0.0 |
- |
-0.2 |
-0.2 |
|
Increase in Guarantee Deposit |
-1.2 |
-0.4 |
-1.7 |
-0.4 |
-0.2 |
|
Increase in Non-Current Loans |
- |
-0.6 |
-0.2 |
-0.1 |
- |
|
Purchase of Current Fincl Instruments |
-5.6 |
- |
- |
-92.5 |
-26.3 |
|
Purchase of Non-Current Fincl Instrm |
0.0 |
- |
- |
- |
-0.1 |
|
Increase-Currency Forwards |
- |
- |
- |
-0.1 |
-7.6 |
|
Purchase of Sec. Available-for-Sale |
- |
- |
-0.3 |
-0.4 |
-1.8 |
|
Purchase of Other Invmt Assets |
0.0 |
- |
-0.4 |
- |
- |
|
Purchase of Current Trading Sec. |
-0.9 |
-3.3 |
-3.9 |
-3.3 |
- |
|
Purchase of Invmt in Affiliates |
- |
-2.3 |
- |
- |
-0.1 |
|
Acq-Land |
- |
- |
- |
-0.7 |
-0.2 |
|
Increase-Buildings |
- |
- |
- |
-0.7 |
- |
|
Increase-Machinery & Equipment |
- |
- |
- |
- |
0.0 |
|
Acq-Fixtures |
- |
- |
- |
-0.2 |
-0.6 |
|
Acq-Vehicles |
- |
- |
- |
0.0 |
-0.1 |
|
Acq-Tools/Equipmt |
- |
- |
- |
-0.3 |
-0.4 |
|
Acq-Molding Equipmt |
- |
- |
- |
-0.4 |
-1.0 |
|
Increase-Government Subsidy |
- |
- |
- |
- |
-0.7 |
|
Increase-Construction in Progress |
- |
- |
- |
- |
-4.5 |
|
Purchase of Tangibles |
-1.0 |
-1.1 |
-0.9 |
- |
- |
|
Purchase of Intangibless |
-0.7 |
-1.0 |
-0.9 |
- |
- |
|
Increase-Software |
- |
- |
- |
0.0 |
-0.2 |
|
Acq-Other Intangible |
- |
- |
- |
- |
-0.4 |
|
Cash From Investing Activities |
-0.6 |
-0.5 |
9.4 |
9.8 |
-42.9 |
|
|
|
|
|
|
|
|
Increase in Current Borrowings |
57.8 |
20.3 |
8.3 |
10.5 |
12.3 |
|
Decrease-Convertible Bond |
- |
- |
- |
-4.7 |
-5.0 |
|
Decrease in Treasury Stocks |
- |
0.3 |
- |
0.1 |
- |
|
Increase in Government Subsidy |
0.9 |
0.8 |
0.9 |
0.3 |
0.5 |
|
Increase-LT Borrowings |
- |
- |
- |
- |
5.5 |
|
Increase in Bonds |
3.5 |
4.4 |
- |
- |
9.1 |
|
Exercise-Stock Options |
- |
- |
- |
0.0 |
0.1 |
|
Increase in Rental Guarantee Deposit |
0.0 |
0.4 |
- |
0.1 |
0.4 |
|
Capital Increase |
- |
- |
- |
- |
9.1 |
|
Decrease in Current Borrowings |
-53.4 |
-9.9 |
-4.1 |
-17.9 |
- |
|
Dividend Paid |
- |
-0.5 |
- |
- |
-0.8 |
|
Decs in Current Portion of LT Liability |
-0.4 |
-9.0 |
-2.6 |
- |
0.0 |
|
Increase in Treasury Stocks |
- |
-0.5 |
- |
- |
-2.6 |
|
Decrease in Non-Current Borrowings |
- |
- |
-0.7 |
-1.0 |
- |
|
Decrease in Other Non-Current Payable |
- |
- |
-0.3 |
- |
- |
|
Stock Issuance Cost |
- |
- |
- |
- |
-0.1 |
|
Decrease-Cash -Foreign Exchange Effect |
- |
- |
- |
0.1 |
-0.1 |
|
Adjustment |
0.3 |
- |
- |
- |
- |
|
Cash From Financing Activities |
8.7 |
6.4 |
1.4 |
-12.6 |
28.2 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.4 |
0.0 |
0.5 |
- |
- |
|
Net Change in Cash |
7.2 |
-4.6 |
6.1 |
6.4 |
-4.3 |
|
|
|
|
|
|
|
|
Cash and Cash Equivalents at Beginning |
14.7 |
19.6 |
12.7 |
4.9 |
9.9 |
|
Cash and Cash Equivalents at End |
21.9 |
15.0 |
18.8 |
11.3 |
5.6 |
|
Cash Interest Paid |
2.4 |
2.3 |
2.1 |
- |
- |
|
Cash Taxes Paid |
0.0 |
0.0 |
0.0 |
- |
- |
Financial Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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Annual Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.54 |
|
UK Pound |
1 |
Rs.84.19 |
|
Euro |
1 |
Rs.71.11 |
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.