|
Report Date : |
06.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
AUTONICS CORPORATION |
|
|
|
|
Registered Office : |
28, Seonsuchon-ro 177beon-gil, Haeundae-gu, Busan, Korea |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
19.01.1990 |
|
|
|
|
Com. Reg. No.: |
618-81-08291 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Manufacture of Electrical Apparatuses for Switching, Protecting and
Connecting Electrical Circuits Used in Power Distribution Systems |
|
|
|
|
No. of Employees |
621 |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 and
2013 the economy experienced sluggish growth because of market slowdowns in the
United States, China, and the Eurozone. The administration in 2014 is likely to
face the challenge 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 about half of GDP.
|
Source
: CIA |
Basic
|
Company Name |
AUTONICS CORPORATION |
|
Registered Address |
28, Seonsuchon-ro 177beon-gil, Haeundae-gu,
Busan, Korea (Old Address System : 780-1, Banyeo-dong,
Haeundae-gu, Busan, Korea) |
|
Zip Code |
612-810 |
|
Tel |
+82-51-520-2400 |
|
Fax |
+82-51-528-4050 |
|
E-mail |
sales@autonics.com |
|
Website |
www.autonics.co.kr |
|
Trading Address |
Bldg 402, 3rd Fl., Bucheon Techno Park, 655, Pyeongcheon-ro, Wonmi-gu,
Bucheon-si, Gyeonggi-do, Korea (Old Address System : Bldg 402, 3rd Fl.,
Bucheon Techno Park, 193, Yakdae-dong, Wonmi-gu, Bucheon-si, Gyeonggi,
420-734, Korea) |
|
Tel |
+82-32-610-2730 |
|
Fax |
+82-32-329-0728 |
|
Other Address-Yangsan Factory |
41-5, Yongdang-dong, Yangsan-si, Gyeongsangnam-do, Korea |
|
Tel |
+82-55-371-5000 |
|
Fax |
+82-55-372-4431 |
|
Other Address-R&D Center |
10-75, Songdo-dong,
Yeonsu-gu, Incheon, Korea |
|
Tel |
+82-32-850-7800 |
|
Fax |
+82-32-850-7878 |
|
Other Address-Daegu Office |
179-4, Sangyeok-dong,
Buk-gu, Daegu, Korea |
|
Tel |
+82-53-383-7673 |
|
Fax |
+82-53-383-7674 |
|
Type |
Export |
|
Industry |
Manufacture of Electrical Apparatuses for Switching, Protecting and
Connecting Electrical Circuits Used in Power Distribution Systems |
|
Main Business |
Proximity Switch, Counter, Timer, Temperature Controller, Rotary
Encoder, Sensor Controller, Photo Sensor, Stepping Motor |
|
Sub
Business |
Manufacture of Industrial Process Control Equipment |
|
Established (mm/dd/yyyy) |
01/19/1990 |
The Subject owns the premises of registered
HQ address and Yangsan Factory.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Timer controls(39121523) |
|
Sell |
Counters(41111901) |
|
Sell |
Pressure sensors(41111927) |
|
Sell |
Step motors(26101614) |
|
Sell |
Control unit(43201542) |
|
Sell |
Transportation related equipment and instruments(41112800) |
|
Sell |
Temperature regulators(41112205) |
|
Sell |
Computer displays(43211900) |
|
Sell |
Photoelectric sensors(39121528) |
|
Sell |
Proximity sensors(41111926) |
|
Sell |
Encoders(39121527) |
|
Sell |
Voltage or current meters(41113637) |
|
Buy |
Power supply transformers(39121002) |
|
Buy |
Integrated circuits(32101600) |
|
Buy |
Cathode ray tube CRT monitors(43211901) |
|
Buy |
Liquid crystal display LCD panels or monitors(43211902) |
|
Buy |
Light emitting diodes LEDs(32111503) |
|
Buy |
Transistors(32111600) |
|
Buy |
Diodes(32111500) |
|
Buy |
Capacitors(32121500) |
|
Buy |
Resistors(32121600) |
|
Buy |
Chokes(39121012) |
|
Buy |
Inductors(32121702) |
|
Name |
Park Hwan-Ki |
|
Address |
Suite 111-1701, 205, Daecheon-ro,
Haeundae-gu, Busan, Korea |
|
Date of Birth |
04/17/1953 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
3,327,000,000 |
||||||||||||
|
Employees |
621 |
||||||||||||
|
Formation |
Co., Ltd by Shares |
||||||||||||
|
Bank Details |
Korea Development Bank Kookmin Bank-Shinhan Bank Gyungnam Bank Nonghyup Bank |
||||||||||||
|
Corporate Registered No. |
180111-0095299 |
||||||||||||
|
Business Registered No. |
618-81-08291 |
||||||||||||
|
Permit & Licenses |
11/06/2000 ISO 9001 Int’l Trade No.: 373081 |
||||||||||||
|
Shareholder Position |
|
||||||||||||
|
Company History |
06/25/1977 Established as Kukje Electronics
Co.(Sole Proprietorship) 06/26/1988 Changed company name to AUTONICS
CO. 01/19/1990 Incorporated as the present name 06/22/1998 Designated as a Venture Business 03/28/2003 Increased the authorized shares
to 40,000,000 shares from 2,000,000 shares 04/30/2003 Spin off the par value to 500
KRW from 5,000 KRW 11/2005 Awarded US$ 10 Million Export Top
Prize 01/11/2010 Designated as a Venture Business
again |
||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Park Hwan-Ki |
Male |
Korean |
01/30/2001 |
|
Director |
Mr. |
Koo Sung-Hoi |
Male |
Korean |
03/29/2010 |
|
Director |
Mr. |
Shin Yong-Tae |
Male |
Korean |
03/28/2013 |
|
Auditor |
Mr. |
Hur Tae-Jung |
Male |
Korean |
03/31/2001 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
|
|
|
|
|
2012 |
95,534,764,363 |
142,145,166,934 |
16,930,839,698 |
|
2011 |
106,672,422,041 |
129,721,006,581 |
19,451,311,162 |
|
2010 |
90,363,591,646 |
116,937,653,116 |
19,326,447,576 |
|
2009 |
62,546,374,772 |
95,259,121,014 |
12,213,672,582 |
|
2008 |
62,297,770,512 |
86,074,289,423 |
16,517,572,289 |
|
2007 |
55,882,078,587 |
69,647,608,848 |
12,950,569,704 |
|
2006 |
54,983,472,206 |
56,600,716,648 |
9,301,854,422 |
|
2005 |
90,363,591,646 |
116,937,653,116 |
19,326,447,576 |
|
Authorized Capital(KRW) |
20,000,000,000 |
|
Paid-Up Capital(KRW) |
3,327,000,000 |
|
Total Issues Shares |
6,654,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Total Assets |
142,145,166,934 |
129,721,006,581 |
116,937,653,116 |
|
Current Assets |
73,648,838,838 |
71,229,101,437 |
64,570,128,804 |
|
-Quick Assets |
51,190,905,496 |
43,774,471,224 |
40,630,803,026 |
|
-Inventories |
22,457,933,342 |
27,454,630,213 |
23,939,325,778 |
|
Fixed Assets |
68,496,328,096 |
58,491,905,144 |
52,367,524,312 |
|
-Investment |
22,562,735,091 |
22,401,627,437 |
18,604,056,043 |
|
-Tangibles |
43,649,492,588 |
33,115,324,200 |
30,701,364,850 |
|
-Intangibles |
105,395,277 |
101,678,367 |
101,128,279 |
|
-Others |
2,178,705,140 |
2,873,275,140 |
2,960,975,140 |
|
Total Liabilities |
11,392,228,353 |
10,739,069,913 |
13,278,858,157 |
|
Current Liabilities |
7,041,440,774 |
6,592,096,171 |
9,453,511,322 |
|
Fixed Liabilities |
4,350,787,579 |
4,146,973,742 |
3,825,346,835 |
|
Capital Stock |
3,327,000,000 |
3,327,000,000 |
3,327,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
126,311,412,957 |
113,971,380,098 |
97,915,888,936 |
|
Capital Adjustment |
1,114,525,624 |
1,683,556,570 |
2,415,906,023 |
|
Total Equity |
130,752,938,581 |
118,981,936,668 |
103,658,794,959 |
|
Liab. & Shareholder’s Equity |
142,145,166,934 |
129,721,006,581 |
116,937,653,116 |
|
Current Liabilities |
7,041,440,774 |
6,592,096,171 |
9,453,511,322 |
|
Trade Payables |
1,417,802,209 |
2,290,694,123 |
3,930,321,587 |
|
Short-Term Borrowings |
10,000,000 |
10,000,000 |
10,000,000 |
|
Advance Receipts |
177,051,714 |
227,200,721 |
366,382,294 |
|
Withholdings |
822,420,744 |
295,337,567 |
256,032,033 |
|
VAT Withhold |
1,310,770,772 |
961,069,642 |
809,104,629 |
|
Accrued Expenses |
3,303,395,335 |
2,631,996,662 |
2,513,527,263 |
|
Accrued Income Tax |
- |
175,797,456 |
1,568,143,516 |
|
Fixed Liabilities |
4,350,787,579 |
4,146,973,742 |
3,825,346,835 |
|
Long-Term Borrowings |
120,000,000 |
120,000,000 |
120,000,000 |
|
Provision for Severance & Retirement |
|
|
2,104,062,414 |
|
Deferred Income Tax Credit |
4,230,787,579 |
4,026,973,742 |
3,400,039,759 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Sales |
95,534,764,363 |
106,672,422,041 |
90,363,591,646 |
|
Cost of Sold Goods |
73,368,270,640 |
81,891,670,917 |
62,557,418,413 |
|
Gross Profit |
22,166,493,723 |
24,780,751,124 |
27,806,173,233 |
|
Selling & Admin. Expenses |
13,819,340,882 |
17,191,976,049 |
14,026,819,824 |
|
Operating Income |
8,347,152,841 |
7,588,775,075 |
13,779,353,409 |
|
Non-Operating Income |
11,692,919,063 |
14,887,689,604 |
12,583,016,386 |
|
Non-Operating Expenses |
3,343,354,989 |
1,366,858,889 |
3,787,254,291 |
|
Income Before Taxes |
16,696,716,915 |
21,109,605,790 |
22,575,115,504 |
|
Income Taxes Expenses |
-234,122,783 |
1,658,294,628 |
3,248,667,928 |
|
Net Income |
16,930,839,698 |
19,451,311,162 |
19,326,447,576 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Cash Flows from Operating |
21,806,325,817 |
6,487,487,693 |
5,071,727,433 |
|
-Net Income |
16,930,839,698 |
19,451,311,162 |
19,326,447,576 |
|
-Exp. without Cash Outflow |
5,266,591,460 |
5,142,199,939 |
4,804,356,730 |
|
-Revenue without Cash Inflows |
-7,691,140,800 |
-10,673,039,349 |
-8,073,566,657 |
|
-Changes in Asset/ & Liability |
7,300,035,459 |
-7,432,984,059 |
-10,985,510,216 |
|
Cash Flows from Investing |
-18,081,642,092 |
313,913,080 |
-2,609,939,556 |
|
-Cash Inflow from Investing |
79,003,541,036 |
61,818,349,474 |
55,649,315,156 |
|
-Cash Outflows for Investing |
-97,085,183,128 |
-61,504,436,394 |
-58,259,254,712 |
|
Cash Flows from Financing |
-2,994,300,000 |
-2,994,300,000 |
-2,208,900,000 |
|
-Cash Inflows from Financing |
- |
- |
120,000,000 |
|
-Cash Outflows from Financing |
-2,994,300,000 |
-2,994,300,000 |
-2,328,900,000 |
|
Increase/Decrease in Cash |
730,383,725 |
3,807,100,773 |
252,887,877 |
|
Cash at the Beginning of Year |
7,861,377,629 |
4,054,276,856 |
3,801,388,979 |
|
Cash at the End of Year |
8,591,761,354 |
7,861,377,629 |
4,054,276,856 |
|
Main Products & Services |
Motion Devices Sensors Controllers |
|
Suppliers |
TECHNICS CO., LTD.(184511-0021466) AUTOSYS CORP.(KOREA) |
|
Customers |
AUTONICS CHINA AUTONICS INDONESIA AUTONICS U.S.A AUTONICS JAPAN AUTONICS BRAZIL AUTONICS MALAYSIA AUTONICS TURKEY AUTONICS INDIA KONICS(110111-0356869) |
|
Competitors |
WOOYOUNG CO., LTD. 632-39, CHANG 2-DONG, DOBONG-GU, SEOUL,
KOREA TEL:+82-2-904-6711 FAX:+82-2-567-9723 YEONHO ELECTRONICS CO., LTD. 506-2, HANAM-DONG, GWANGSAN-GU, GWANGJU,
KOREA TEL:+82-62-952-0772 FAX:+82-62-952-0782 KOREA HOSIDEN CO., LTD. P.O. BOX 375, BG-10, MASAN FREE EXPORT
ZONE, 973-4, YANGDEOK-DONG, MASAN-SI, GYEONGSANGNAM-DO, KOREA TEL:+82-55-255-4191~6 FAX:+82-55-255-4197 |
|
Affiliates |
KONICS(110111-0356869) (58.9% held by the subject company) MENICS CO.,LTD.(234111-0058325) FAMECE CORP(180111-0139576) AUTOSYS CORP.(KOREA) |
|
Subsidiary |
AUTONICS CHINA (100.0% held by the subject company) AUTONICS ELECTRONIC(JIAXING) CORPORATION
#301 YUN HAI ROAD JIAXING, ZHEJIANG, CHINA, 314001 TEL:+86-573-8216-1900 FAX:+86-573-8216-1917 AUTONICS INDONESIA (90.0% held by the subject company) GEDUNG JAMKRINDO LT.DASAR JL. ANGKASA BLOK
B-9 KAVV.6 KOTA BARU BANDAR KEMAYORAN JAKARTA PUSAT INDONESIA TEL:+62-21-658 66 740 FAX:+62-21-658 66 741 AUTONICS U.S.A (100.0% held by the subject company) 1353 ARMOUR BLVD, MUNDELEIN, IL 60060 USA TEL:+1-847-680-8160 FAX:+1-847-680-8155 AUTONICS JAPAN (95.8% held by the subject company) 105-0022 TAKAMARU 8F, KAIGAN 2-1-18,
MINATOKU, TOKYO, JAPAN TEL:+81-3-5730-0568 FAX:+81-3-5730-0569 AUTONICS BRAZIL (100.0% held by the subject company) AVENIDA ENGENHEIRO LUIZ CARLOS BERRINI,
936-CONJ. 31/32-BROOKLIN CEP:04571-905 SAO PAULO-SP BRASIL. TEL:+55-11-3055-1660 FAX:+55-11-3055-1660 AUTONICS MALAYSIA (70.0% held by the subject company) UNIT NO 613 & 614, BLOCK A. KELANA
BISINESS CENTRE 97, JALAN SS7/2,47301 PETALING JAYA, SELANGOR MALAYSIA TEL:+60-3-7805-7190 FAX:+60-3-7805-7193 AUTONICS TURKEY (100.0% held by the subject company) HALIDE EDIP ADIVAR MAH. SULTAN SK. NO:28,
KAT 2, 34332, SISILI, ISTANBUL, TURKIYE TEL:+90-212-222-0117 FAX:+90-212-222-0108 AUTONICS INDIA (100.0% held by the subject company) 7, QUEENS NECKLACE SHOPPING PARADISE, PLOT
NO 1, SECTOR 18, PALM BEACH ROAD, SANPADE, NAVI MUNBAI - 400 705,
MAHARASHTRA, INDIA TEL:+91-22-2781-4305 FAX:+91-22-2781-4518 KONICS(110111-0356869) (58.9% held by the subject company) |
|
Cooperative Enterprise |
-Insured Company MERITZ FIRE & MARINE INSURANCE CO., LTD.(110111-0013328) HYUNDAIMARINE&FIREINSURANCECO., LTD.(110111-0035893) |
|
Sales/ Unit :Mil KRW |
2013 |
2012 |
2011 |
|
Export |
|
|
|
|
Domestic |
|
|
|
|
Total |
|
|
|
The Subject deals with the companies in
China, Indonesia, Japan, Vietnam, USA and Middle East.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.32 |
|
UK Pound |
1 |
Rs.100.04 |
|
Euro |
1 |
Rs.82.65 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SDA |
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.