|
Report Date : |
06.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
POSCO M-TECH CO., LTD. |
|
|
|
|
Registered Office : |
131, Hyeongsangangbuk-ro, Nam-gu, Pohang-si,
Gyeongsangbuk-do, Korea |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
27.12.1973 |
|
|
|
|
Com. Reg. No.: |
506-81-00055 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Other Basic Iron and Steel |
|
|
|
|
No. of Employees |
1,265 |
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 : |
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 |
POSCO M-TECH CO., LTD. (Korean Company Name : “(주)포스코엠텍”) |
|
Registered
Address |
131, Hyeongsangangbuk-ro, Nam-gu, Pohang-si,
Gyeongsangbuk-do, Korea |
|
Building |
|
|
Zip Code |
790-330 |
|
Tel |
+82-54-280-8114 |
|
Fax |
+82-54-280-8301~3 |
|
E-mail |
webmaster@sjpna.co.kr;jws0424@sjpna.co.kr;wjh@sjpna.co.kr |
|
Website |
www.sjpna.co.kr |
|
Trading Address |
131, Hyeongsangangbuk-ro, Nam-gu, Pohang-si, Gyeongsangbuk-do, Korea (Old Address System : 608, Hyoja-dong, Nam-gu, Pohang-si, Gyeongsangbuk-do, Korea) |
|
Tel |
+82-54-280-8114 |
|
Fax |
+82-54-280-8301~3 |
|
Other Address- 2nd Factory |
616, Ho-dong, Nam-gu, Pohang-si, Gyeongsangbuk-do, Korea |
|
Tel |
+82-54-288-8114 |
|
Fax |
+82-54-288-1130 |
|
Other Address-Gwangyang Office |
1655-1, Taein-dong, Gwangyang-si, Jeollanam-do, Korea |
|
Tel |
+82-61-798-5114 |
|
Fax |
+82-61-792-0198 |
|
Other Address-Seoul Office |
748-4, Banpo
1-dong, Seocho-gu, Seoul, Korea |
|
Tel |
+82-2-554-7785 |
|
Fax |
+82-2-554-7913 |
|
Type |
Export |
|
Industry |
Manufacture of Other Basic Iron and Steel n. e. c. |
|
Main Business |
Pellet, Ingot, Coil Master, Sealing Products, Packaging
Service |
|
Sub Business |
|
|
Established
(mm/dd/yyyy) |
12/27/1973 |
Detailed Products
|
Activity |
Detailed Products
(UNSPSC) |
|
Sell |
Oxygen scavengers(12163802) |
|
Sell |
Packaging machinery(23152900) |
|
Sell |
Securing and protecting supplies(24141500) |
|
Sell |
Corner guards(30161504) |
|
Sell |
Seals(31181600) |
|
Buy |
Aluminum(11101705) |
|
Buy |
Iron(11101713) |
CEO’s
|
Name |
Lee Kyung-Mok |
|
Address |
- |
|
Date of Birth |
09/27/1955 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
20,821,351,500 |
||||||||||||||||||
|
Employees |
1,265 |
||||||||||||||||||
|
Formation |
Listed Company (KOSDAQ : 009520) as of 11/10/1997 A Company of POSCO GROUP |
||||||||||||||||||
|
Bank Details |
Woori
Bank-Pohang Branch |
||||||||||||||||||
|
Corporate
Registered No. |
174611-0000866 |
||||||||||||||||||
|
Business
Registered No. |
506-81-00055 |
||||||||||||||||||
|
Permit &
Licenses |
12/22/1995 ISO 9002 10/31/2002 KS Mark Int’l Trade No.: 13047498 |
||||||||||||||||||
|
Shareholder
Position |
|
||||||||||||||||||
|
Company
History |
12/27/1973
Incorporated as SAMJUNG STEEL CO., LTD. 03/2001
Changed company name to SAMJUNG PACKING & ALUMINUM CO., LTD. 07/2005 Joined
as an Affiliated Company of POSCO GROUP 08/20/2010
Moved to the present HQ address from 967, Goedong-dong, Nam-gu,
Pohang-si, Gyeongsangbuk-do, Korea 03/18/2011
Changed company name to the present name 01/01/2013
Acquired 9 DIGIT CO., LTD.(110111-2084731) and LIKO METAL CO.,
LTD.(110111-1763237) |
||||||||||||||||||
|
|
|
Management
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Date of Birth |
|
President & CEO |
Mr. |
Lee Kyung-Mok |
Male |
Korean |
1955.09.27 |
|
Director |
Mr. |
Yoon Dong-Joon |
Male |
Korean |
1958.10. |
|
Sr. Executive Director |
Mr. |
Lee Hee-Myung |
Male |
Korean |
1959.03. |
|
Auditor |
Mr. |
Park Chang-Soo |
Male |
Korean |
1956.05. |
|
Outside Director |
Mr. |
Lim Woong-Soon |
Male |
Korean |
1966.03.17 |
Financials
|
Year / Unit :
KRW |
Sales |
Assets |
Net Income |
|
902,540,717,801 |
346,576,893,825 |
-10,648,876,452 |
|
|
(*)2012 |
618,316,162,216 |
340,876,750,010 |
14,737,277,528 |
|
(*)2011 |
602,154,803,665 |
316,952,932,640 |
12,447,431,399 |
|
2010 |
524,625,435,726 |
291,437,740,644 |
7,949,406,546 |
|
2009 |
303,349,675,495 |
165,140,974,072 |
3,933,499,164 |
|
2008 |
373,682,038,605 |
154,668,445,112 |
-10,030,648,754 |
|
2007 |
257,630,339,769 |
144,941,720,671 |
10,727,303,880 |
|
2006 |
226,423,716,934 |
129,853,032,659 |
9,444,421,405 |
|
2005 |
296,101,018,682 |
131,814,887,038 |
11,318,722,110 |
(*)Figures are based on the K-IFRS
Accounting System.
|
Authorized
Capital(KRW) |
35,000,000,000 |
|
Paid-Up
Capital(KRW) |
20,821,351,500 |
|
Total Issues
Shares |
41,642,703 |
|
Balance Sheet |
|||
|
Unit : Korean
Won |
As of
12/31/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Total
Assets |
346,576,893,825 |
340,876,750,010 |
316,952,932,640 |
|
Current
Assets |
232,923,861,441 |
236,186,782,829 |
236,785,557,767 |
|
Cash
& Cash Equivalents |
3,987,832,182 |
2,835,105,221 |
265,446,740 |
|
Current
Financial Instruments |
72,318,935,540 |
74,630,150,181 |
94,195,473,034 |
|
Trade
Receivables |
97,287,048,136 |
102,233,599,289 |
87,249,038,125 |
|
Inventories |
55,014,208,013 |
53,248,672,015 |
48,960,969,775 |
|
Other
Current Assets |
4,315,837,570 |
3,239,256,123 |
6,114,630,093 |
|
Non-Current
Assets |
113,653,032,384 |
104,689,967,181 |
80,167,374,873 |
|
Non-Current
Financial Instruments |
39,431,976,229 |
38,274,014,650 |
32,314,058,650 |
|
Investment_Subsidiaries |
13,411,940,000 |
32,846,273,600 |
20,639,736,410 |
|
Tangibles |
46,011,778,297 |
30,214,642,440 |
24,211,146,208 |
|
Intangibles |
10,676,603,904 |
3,355,036,491 |
3,002,433,605 |
|
Deferred
Income Tax Assets |
4,120,733,954 |
|
|
|
Total
Liabilities |
193,375,200,857 |
169,150,265,381 |
153,876,073,183 |
|
Current
Liabilities |
185,917,501,900 |
160,972,291,654 |
148,630,247,243 |
|
Trade Payables |
28,175,717,041 |
43,833,446,335 |
30,082,845,076 |
|
Short-Term
Borrowings |
144,416,929,182 |
103,447,679,069 |
109,584,047,525 |
|
Other
Current Financial Debts |
10,198,928,965 |
10,316,492,825 |
6,633,321,472 |
|
Deferred
Income Tax Credit |
214,410,809 |
2,057,849,638 |
1,034,005,551 |
|
Provisions |
927,730,325 |
|
|
|
Other
Current Liabilities |
1,983,785,578 |
1,316,823,787 |
1,296,027,619 |
|
Non-Current
Liabilities |
7,457,698,957 |
8,177,973,727 |
5,245,825,940 |
|
Long-Term
Borrowings |
4,262,100,000 |
1,998,800,000 |
2,234,500,000 |
|
Confirmed
Salaries |
1,818,058,788 |
5,033,001,308 |
1,867,125,172 |
|
Deferred
Income Tax Credit |
|
1,146,172,419 |
1,144,200,768 |
|
Other
Non-Current Financial Debts |
1,377,540,169 |
|
|
|
Capital
Stock |
20,821,351,500 |
20,820,000,000 |
20,820,000,000 |
|
Capital
Surplus |
68,242,165,942 |
75,669,385,684 |
75,669,385,684 |
|
Others |
-80,993 |
|
|
|
Profit
Surplus |
64,138,256,519 |
75,237,098,945 |
66,587,473,773 |
|
Total
Equity |
153,201,692,968 |
171,726,484,629 |
163,076,859,457 |
|
Liab.
& Shareholder’s Equity |
346,576,893,825 |
340,876,750,010 |
316,952,932,640 |
|
Income Statement |
|||
|
Unit : Korean
Won |
As of
12/31/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Sales |
902,540,717,801 |
618,316,162,216 |
602,154,803,665 |
|
Cost
of Sold Goods |
884,961,503,468 |
585,307,762,862 |
572,547,657,340 |
|
Gross
Profit |
17,579,214,333 |
33,008,399,354 |
29,607,146,325 |
|
Admin.
Expenses |
-17,772,355,523 |
-14,492,495,486 |
-12,588,970,046 |
|
Selling
& Logistics Expenses |
-975,672,000 |
-545,601,906 |
-594,142,186 |
|
Operating
Income |
-1,168,813,190 |
17,970,301,962 |
16,424,034,093 |
|
Other Profits |
-8,921,823,638 |
479,042,335 |
-418,816,624 |
|
Other
Income |
4,686,484,899 |
1,112,606,620 |
222,430,735 |
|
Other
Expenses |
-13,608,308,537 |
-633,564,285 |
-641,247,359 |
|
Finance Profits |
-3,727,447,104 |
574,970,399 |
-895,037,797 |
|
Finance
Income |
7,241,844,205 |
7,862,933,694 |
7,506,589,920 |
|
Finance
Expenses |
-10,969,291,309 |
-7,287,963,295 |
-8,401,627,717 |
|
Income
Before Taxes |
-13,818,083,932 |
19,024,314,696 |
15,110,179,672 |
|
Income
Taxes Expenses |
-3,169,207,480 |
4,287,037,168 |
2,662,748,273 |
|
Net
Income |
-10,648,876,452 |
14,737,277,528 |
12,447,431,399 |
|
Cash Flows |
|||
|
Unit : Korean
Won |
As of
12/31/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Operating
Activities Cash Flows |
12,004,315,559 |
16,376,738,080 |
-5,787,949,583 |
|
Cash
Flows from Operating |
19,162,027,439 |
20,617,645,384 |
2,303,994,347 |
|
Net
Income |
-10,648,876,452 |
14,737,277,528 |
12,447,431,399 |
|
Adjustment |
30,276,605,154 |
13,782,067,706 |
12,557,621,310 |
|
Changes
in Asset/ & Liability |
-465,701,263 |
-7,901,699,850 |
-22,701,058,362 |
|
Interests
Received |
1,141,109,683 |
2,116,512,399 |
2,758,925,260 |
|
Interests
Paid |
-5,675,155,896 |
-3,932,917,271 |
-3,489,829,824 |
|
Dividends
Received |
1,343,650 |
535,000 |
1,770,000 |
|
Income
Taxes |
-2,625,009,317 |
-2,425,037,432 |
-7,362,809,366 |
|
Cash
Flows from Investing |
4,030,383,554 |
-4,680,581,139 |
-34,314,404,465 |
|
Cash
Flows from Financing |
-14,770,552,172 |
-9,126,498,460 |
16,051,215,673 |
|
Increase/Decrease
in Cash |
1,264,146,941 |
2,569,658,481 |
-24,051,138,375 |
|
Cash
at the Beginning of Year |
2,835,105,221 |
265,446,740 |
24,316,585,115 |
|
Cash
at the End of Year |
3,987,832,182 |
2,835,105,221 |
265,446,740 |
Products,
Technologies, Services Description
|
Main Products
& Services |
PACKAGING
SERVICE Steel Product
Packaging Service PACKAGING EQUIPMENT
ORDER/SALES/DESIGN Coil Master Steel
Packaging Line Engineering Equipment/facilities
for packaging steel -Dispenser -Inner ring/outer ring -Side molder etc PACKAGING
MATERIAL SALES Seal Side
protector(Steel) Inner
ring/Outer ring Quenching AL, MO PRODUCT
SALES Pellet Mini Pellet Ingot Jumbo Ingot Mo-Oxide
Briquette Fe-Mo |
|
Detailed
Products Spec. |
|
|
Technologies
Acquired |
|
Trade Partners &
Competitors
|
Suppliers |
|
|
Customers |
POSCO(174611-0000741) AP METAL COMPANY LIMITED |
|
Competitors |
PJ METAL CO., LTD. 13TH FL., SAMAN BLDG., 945, DAECHI 2-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-555-4451 FAX:+82-2-558-5599 UWRAPCO CO.,
LTD. 15B-16, BANWOL
INDUSTRIAL COMPLEX, 449, MONGNAE-DONG, DANWON-GU, ANSAN-SI, GYEONGGI-DO,
KOREA TEL:+82-31-492-6277~9 FAX:+82-31-492-6276 BARDIA PACK
CO., LTD. 365-13,
DAESSANGRYEONG-RI, CHOWOL-EUP, GWANGJU-SI, GYEONGGI-DO, KOREA TEL:+82-31-767-0661 FAX:+82-31-767-0662 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
POSCO(174611-0000741) POSCO COATED
& COLOR STEEL CO., LTD.(174611-0006492) POSCO
ENGINEERING & CONSTRUCTION CO., LTD.(174611-0002979) POSDATA CO.,
LTD.(110111-0658637) POSCO
REFRACTORIES & ENVIRONMENT CO., LTD.(174611-0001947) POSCO CHEMTECH CO., LTD.(174611-0001947) POS-A.C. CO.,
LTD.(174611-0003448) POSCO
ENGINEERING & CONSTRUCTION CO., LTD.(174611-0002979) POSCO RESEARCH
INSTITUTE(110111-1042350) POSTEEL(110111-0344591) POSCO
SPECIALTY STEEL CO., LTD. (194211-0025248) POSMEC(POSCO
MACHINERY & ENGINEERING CO., LTD.)(174611-0012176) POSCO TERMINAL
CO., LTD.(204611-0017575) POSTECH
VENTURE CAPITAL COOPERATION (174611-0029080) POSMATE CO.,
LTD.(110111-0739841) POSCO POWER
CORPORATION(110111-1829576) SNNC CO.,
LTD.(204611-0023415) PHP CO.,
LTD.(120111-0421545) POSBRO(110111-3528986) SUWON GREEN
ENVIRONMENT CORPORATION(134811-0133794) POSCORE CO.,
LTD.(134811-0003343) RIZTECH BIZ
CO., LTD. POSWITH CO.,
LTD.(171711-0075927) P&R CO.,
LTD. UITRANS CO.,
LTD.(110111-3792309) BASYS INDUSTRY
CO. LTD.(110111-0954647) UNIVERSAL
STUDIOS RESORT DEVELOPMENT CORPORATION(134811-0167222) METAPOLIS CO.,
LTD.(134811-0094475) SEOUNG GWANG
CO., LTD.(120111-0222844) CHEONGNA IBT
CO., LTD.(120111-0454520) POHANG FEUL
CELL CO., LTD.(171711-0076256) MEGA
ASSET CO., LTD.(161511-0097480) DAEWOOENGINEERING
COMPANY CO., LTD.(110111-0203268) POS ECO HOUSING CO., LTD.(171711-0085893) DAKOS CO., LTD.(131111-0246297) MAPO HYBROAD PARKING CO., LTD.(110111-4250140) GWANGYANG FSC CO., LTD.(204611-0031385) POSPLATE CO., LTD.(204611-0031252) POS CALCIUM CO., LTD.(171711-0086180) POS-MINERALS CORPORATION (15.0% held by the subject company) |
|
Overseas
Office |
|
|
Liaison Office |
|
|
Overseas
Branch |
|
|
Joint Venture |
|
|
Subsidiary |
PT. POSCO MTECH INDONESIA (60.00% held by the subject company) POS-HIAL CO., LTD.(205411-0020175) (51.00% held by the subject company) |
|
Corporate
Ownership |
POSCO(174611-0000741) |
|
Major
Shareholders |
POSCO(174611-0000741) |
|
Cooperative
Enterprise |
-Technical support
for Coil Master License from K.C METAL
PRODUCTS PTY.(AUSTRALIA) -Insured
Company SAMSUNG FIRE & MARINE INSURANCE CO.,
LTD.(110111-0005078) |
Sales by Region
(Activity & Markets)
|
Sales/ Unit :
KRW |
2010 |
2009 |
2008 |
|
Export |
126,333,103,154 |
61,692,014,541 |
98,919,070,823 |
|
Domestic |
398,292,332,572 |
241,657,660,954 |
274,762,967,782 |
|
Total |
524,625,435,726 |
303,349,675,495 |
373,682,038,605 |
The Subject
deals with the companies in Australia.
Court Action
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.32 |
|
|
1 |
Rs.100.04 |
|
Euro |
1 |
Rs.82.65 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NIS |
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.