|
Report Date : |
29.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
OSRAM KOREA CO., LTD. |
|
|
|
|
Registered Office : |
601B-20, 1050-3, Singil-dong, Danwon-gu, Ansan-si, Gyeonggi-do, Korea, Zip Code 425-839 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
30.09.2012 |
|
|
|
|
Date of Incorporation : |
29.09.1987 |
|
|
|
|
Com. Reg. No.: |
134-81-02111 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Manufacturer of General Electric Lighting Fixture |
|
|
|
|
No. of Employees : |
273 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
South Korea ECONOMIC OVERVIEW
South Korea
over the past four decades has demonstrated incredible growth and global
integration to become a high-tech industrialized economy. In the 1960s, GDP per
capita was comparable with levels in the poorer countries of Africa and Asia.
In 2004, South Korea joined the trillion dollar club of world economies, and is
currently the world's 12th largest economy. Initially, a system of close
government and business ties, including directed credit and import
restrictions, made this success possible. The government promoted the import of
raw materials and technology at the expense of consumer goods, and encouraged
savings and investment over consumption. The Asian financial crisis of 1997-98
exposed longstanding weaknesses in South Korea's development model including
high debt/equity ratios and massive short-term foreign borrowing. GDP plunged
by 6.9% in 1998, and then recovered by 9% in 1999-2000. Korea adopted numerous
economic reforms following the crisis, including greater openness to foreign
investment and imports. Growth moderated to about 4% annually between 2003 and
2007. Korea''s export focused economy was hit hard by the 2008 global economic
downturn, but quickly rebounded in subsequent years, reaching 6.3% growth in
2010. The US-South Korea Free Trade Agreement was ratified by both governments
in 2011 and went into effect in March 2012. Throughout 2012 the economy
experienced sluggish growth because of market slowdowns in the United States,
China, and the Eurozone. The incoming administration in 2013, following the
December 2012 presidential election, is likely to face the challenges of
balancing heavy reliance on exports with developing domestic-oriented sectors,
such as services. The South Korean economy''s long term challenges include a
rapidly aging population, inflexible labor market, and heavy reliance on
exports - which comprise half of GDP.
|
Source : CIA |
|
Company
Name |
OSRAM KOREA CO.,
LTD. (Korean Company Name : “(주)오스람코리아”) |
|
Registered Address |
601B-20, 1050-3, Singil-dong, Danwon-gu, Ansan-si, Gyeonggi-do, Korea |
|
Zip Code |
425-839 |
|
Tel |
+82-31-489-1700 |
|
Fax |
+82-31-491-1552 |
|
E-mail |
|
|
Website |
|
|
Trading
Address |
601B-20, 1050-3, Singil-dong, Danwon-gu,
Ansan-si, Gyeonggi-do, Korea (New Address System : 4, Haebong-ro 255beon-gil, Danwon-gu, Ansan-si, Gyeonggi-do,
Korea) |
|
Tel |
+82-31-489-1700 |
|
Fax |
+82-31-491-1552 |
|
Other
Address-Sales Dept. |
3FL., Yesung Bldg., 150-30, Samseong 1-dong, Gangnam-gu, Seoul, Korea |
|
Tel |
+82-2-554-4112 |
|
Fax |
+82-2-556-1644 |
|
Type |
Export/Import |
|
Industry |
Manufacture
of General Electric Lighting Fixture |
|
Main Business |
Domestic
Incandescent Lamps, Halogen Lamp for Vehicles, Fluorescence Lamp |
|
Sub
Business |
Wholesale
of Non-Specialized Goods |
|
Established (mm/dd/yyyy) |
09/29/1987 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Halogen lamps(39101601) |
|
Sell |
Incandescent lamps(39101612) |
|
Sell |
Fluorescent lamps(39101605) |
|
Sell |
Exterior automobile lighting(25172901) |
|
Sell |
Metal halide lamps(39101614) |
|
Name |
Bang In-Cheol |
|
Address |
Suite 7-901, 14, Bangbae-ro, Seocho-gu,
Seoul, Korea |
|
Date of Birth |
04/06/1959 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
13,385,000,000 |
|||||||||
|
Employees |
273 |
|||||||||
|
Formation |
Co., Ltd by Shares Foreign
Direct Investment Corporation |
|||||||||
|
Bank Details |
Deutsch Bank-Seoul Branch PNB Paribas-Seoul Branch |
|||||||||
|
Corporate Registered No. |
110111-0546072 |
|||||||||
|
Business Registered No. |
134-81-02111 |
|||||||||
|
Permit & Licenses |
Int’l
Trade No.: 421713 |
|||||||||
|
Shareholder Position |
|
|||||||||
|
Company History |
09/29/1987 Incorporated as the present name
and registered as a Foreign Direct Investment Corporation |
|||||||||
|
|
|
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
President
& CEO |
Mr. |
Bang In-Cheol |
Male |
Korean |
08/01/2012 |
|
Director |
Mr. |
Samuel Woo |
Male |
USA |
06/30/2012 |
|
Director |
Mr. |
Kim Sang-Moon |
Male |
Korean |
07/05/2013 |
|
Auditor |
Mr. |
Hofmann Werner |
Male |
German |
12/13/2012 |
|
Year / Unit
: KRW |
Sales |
Assets |
Net Income |
|
09/2012 |
164,520,220,178 |
53,748,629,265 |
13,201,962,700 |
|
09/2011 |
144,691,220,411 |
58,894,528,169 |
19,291,473,775 |
|
09/2010 |
130,132,344,867 |
54,747,856,274 |
16,598,412,929 |
|
Authorized Capital(KRW) |
25,940,000,000 |
|
Paid-Up Capital(KRW) |
13,385,000,000 |
|
Total Issued Shares |
267,700 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of
09/30/2012 |
As of
09/30/2011 |
As of
09/30/2010 |
|
Total Assets |
53,748,629,265 |
58,894,528,169 |
54,747,856,274 |
|
Current Assets |
39,218,666,345 |
43,455,740,825 |
38,881,340,371 |
|
-Quick Assets |
21,816,886,531 |
29,131,261,197 |
26,346,457,113 |
|
-Inventories |
17,401,779,814 |
14,324,479,628 |
12,534,883,258 |
|
Fixed Assets |
14,529,962,920 |
15,438,787,344 |
15,866,515,903 |
|
-Investment |
12,300,000 |
12,300,000 |
14,300,000 |
|
-Tangibles |
14,109,692,660 |
14,632,961,620 |
15,445,733,307 |
|
-Intangibles |
407,970,260 |
793,525,724 |
406,482,596 |
|
Total Liabilities |
19,515,503,531 |
18,557,446,922 |
17,102,248,802 |
|
Current Liabilities |
19,515,503,531 |
18,557,446,922 |
17,102,248,802 |
|
Short-Term Borrowings |
187,194,028 |
- |
- |
|
Trade Payables |
8,331,097,196 |
8,373,144,517 |
4,688,185,153 |
|
Account Payables |
341,237,468 |
208,292,878 |
334,167,969 |
|
Advance Receipts |
188,127,499 |
437,155 |
12,966,538 |
|
Withholdings |
329,495,681 |
770,195,201 |
616,155,924 |
|
Accrued Expenses |
5,093,896,621 |
5,102,754,841 |
5,267,913,923 |
|
Accrued Income Tax |
3,217,182,750 |
3,153,774,330 |
4,458,723,274 |
|
Provision for Sales Guarantee |
711,122,000 |
948,848,000 |
893,975,000 |
|
Derivatives |
1,116,150,288 |
- |
830,161,021 |
|
Fixed Liabilities |
|
|
|
|
Capital Stock |
13,385,000,000 |
13,385,000,000 |
13,385,000,000 |
|
Capital Surplus |
655,555,562 |
670,000,000 |
670,000,000 |
|
Profit Surplus |
20,192,570,172 |
26,282,081,247 |
23,590,607,472 |
|
Capital Adjustment |
|
|
|
|
Total Equity |
34,233,125,734 |
40,337,081,247 |
37,645,607,472 |
|
Liab. & Shareholder’s Equity |
53,748,629,265 |
58,894,528,169 |
54,747,856,274 |
Income
Statement
|
|||
|
Unit : Korean
Won |
As of 09/30/2012 |
As of 09/30/2011 |
As of 09/30/2010 |
|
Sales |
164,520,220,178 |
144,691,220,411 |
130,132,344,867 |
|
Cost of Sold Goods |
128,642,859,681 |
107,062,852,860 |
95,215,662,165 |
|
Gross Profit |
35,877,360,497 |
37,628,367,551 |
34,916,682,702 |
|
Selling & Admin. Expenses |
15,387,039,224 |
12,757,927,131 |
12,518,294,822 |
|
Operating Income |
20,490,321,273 |
24,870,440,420 |
22,398,387,880 |
|
Non-Operating Income |
5,243,101,855 |
5,440,762,489 |
3,604,936,152 |
|
Non-Operating Expenses |
6,558,122,732 |
4,767,200,667 |
4,019,513,098 |
|
Income Before Taxes |
19,175,300,396 |
25,544,002,242 |
21,983,810,934 |
|
Income Taxes Expenses |
5,973,337,696 |
6,252,528,467 |
5,385,398,005 |
|
Net Income |
13,201,962,700 |
19,291,473,775 |
16,598,412,929 |
Cash
Flows
|
|||
|
Unit : Korean Won |
As of
09/30/2012 |
As of 09/30/2011 |
As of
09/30/2010 |
|
Cash Flows from Operating |
14,527,623,489 |
17,332,939,734 |
17,883,507,791 |
|
-Net Income |
13,201,962,700 |
19,291,473,775 |
16,598,412,929 |
|
-Exp. without Cash Outflow |
3,907,121,689 |
2,054,824,107 |
4,298,573,612 |
|
-Revenue without Cash Inflows |
-336,015,234 |
-2,371,925,010 |
-106,544,279 |
|
-Changes in Asset/ & Liability |
-2,245,445,666 |
-1,641,433,138 |
-2,906,934,471 |
|
Cash Flows from Investing |
-924,722,017 |
-805,701,748 |
-626,566,029 |
|
-Cash Inflow from Investing |
111,143,191 |
67,408,845 |
213,900,823 |
|
-Cash Outflows for Investing |
-1,035,865,208 |
-873,110,593 |
-840,466,852 |
|
Cash Flows from Financing |
-19,104,279,747 |
-16,600,000,000 |
-8,037,627,973 |
|
-Cash Inflows from Financing |
187,194,028 |
- |
2,000,000,000 |
|
-Cash Outflows from Financing |
-19,291,473,775 |
-16,600,000,000 |
-10,037,627,973 |
|
Increase/Decrease in Cash |
5,501,378,275 |
72,762,014 |
9,219,313,789 |
|
Cash at the Beginning of Year |
9,146,551,775 |
9,219,313,789 |
- |
|
Cash at the End of Year |
3,645,173,500 |
9,146,551,775 |
9,219,313,789 |
|
Main Products & Services |
Domestic
Incandescent Lamps, Halogen Lamp for Vehicles, Fluorescence Lamp |
|
Competitors |
DAEHAN LIGHTING CO., LTD. 338, SEONDONG-RI, CHOWOL-EUP, GWANGJU-SI,
GYEONGGI-DO, KOREA TEL:+82-31-763-5276 FAX:+82-31-761-2041 SEO HAN ELECTRIC INDUSTRY CO., LTD. 853, SOCHON-DONG, GWANGSAN-GU, GWANGJU,
KOREA TEL:+82-62-943-3120 FAX:+82-62-944-9889 WOOREE LIGHTING CO., LTD. 608B-30, BANWOL INDUSTRIAL COMPLEX, 636-3,
SEONGGOK-DONG, DANWON-GU, ANSAN-SI, GYEONGGI-DO, KOREA TEL:+82-31-492-1012 FAX:+82-31-494-8817 KUMHO ELECTRIC, INC. 14TH FL., MAPO TOWER BLDG., 418, MAPO-DONG,
MAPO-GU, SEOUL, KOREA TEL:+82-2-707-4000 FAX:+82-2-704-0033 |
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
OSRAM AG OSRAM ASIA PACIFIC LTD. OSRAM S.P.A SOCIETA RIUNITE(ITALY) OSRAM TAIWAN CO., LTD. OSRAM OPTO SEMICONDUCTORS OSRAM OPTO SC. ASIA, HONG KONG OSRAM PTE LTD. OSRAM SYLVANIA PRODUCTS, INC. OSRAM CHINA LIGHTING LTD. RADIUM OSRAM CESKA REPUBLIKA S.R.O (BRUNTAL) SIEMENS LTD. SEOUL |
|
Corporate Ownership |
SIEMENS AG OSRAM AG |
|
Major Shareholders |
OSRAM AG(GERMANY) |
|
Cooperative Enterprise |
-Technical Support from OSRAM AG(GERMANY) |
(Activity &
Markets)
The Subject deals with
the companies in Germany.
No.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.39 |
|
UK Pound |
1 |
Rs.101.80 |
|
Euro |
1 |
Rs.84.75 |
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.