|
Report Date : |
06.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
SAMMOK S FORM CO., LTD. |
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|
|
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Formerly Known As : |
SAMMOK PRECISION CO., LTD. |
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|
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Registered Office : |
474-40, Anseongmatchum-daero, Miyang-myeon, Anseong-si, Gyeonggi-do |
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Country : |
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|
|
|
Financials (as on) : |
30.09.2014 |
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Date of Incorporation : |
07.06.1985 |
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Com. Reg. No.: |
133-81-23898 |
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|
|
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Legal Form : |
Listed Company |
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Line of Business : |
Manufacture of Metal Structural Components. |
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|
|
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No. of Employees : |
262 |
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 |
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|
|
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Payment Behaviour : |
No Complaints |
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|
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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. South 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. South 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-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, dominance of large conglomerates (chaebols), and heavy reliance on exports, which comprise
about half of GDP.
|
Source
: CIA |
|
Company
Name |
SAMMOK S FORM CO., LTD. |
|
Registered Address |
474-40, Anseongmatchum-daero,
Miyang-myeon, Anseong-si,
Gyeonggi-do, Korea (Old Address System : 446-2, Yangbyeon-ri, Miyang-myeon, Anseong-si, Gyeonggi-do, Korea) |
|
Building |
- |
|
Zip Code |
456-844 |
|
Tel |
+82-31-677-1234 |
|
Fax |
+82-31-677-0320 |
|
E-mail |
|
|
Website |
|
|
|
|
|
Trading Address |
38, Teheran-ro 2-gil, Gangnam-gu, Seoul,
Korea (Old
Address System : 826-10, Yeoksam 1-dong, Gangnam-gu, Seoul, Korea) |
|
Tel |
+82-2-561-0941 |
|
Fax |
+82-2-554-9389 |
|
|
|
|
Other Address-Sihwa
Factory |
1270-3, Jeongwang-dong,
Siheung-si, Gyeonggi-do,
Korea |
|
Tel |
+82-31-498-2511 |
|
Fax |
+82-31-498-2515 |
|
|
|
|
Type |
Export |
|
Industry |
Manufacture of Metal Structural Components |
|
Main Business |
Euro Form, Panel Form, Gang Form, Aluminum Form, Tego
Plywood |
|
|
|
|
Established (mm/dd/yyyy) |
06/07/1985 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Scaffolding(30191502) |
|
Sell |
Foam insulation(30141503) |
|
Sell |
Clamps(31162900) |
|
Sell |
Handrails(30191601) |
|
Sell |
Hooks(31162600) |
|
Sell |
Miscellaneous hardware(31162800) |
|
Sell |
Foundry molds(23161606) |
|
Buy |
Plywood(11121609) |
|
Buy |
Steel(11101704) |
|
Buy |
Oil based paints(31211505) |
|
Buy |
Aluminum(11101705) |
|
Buy |
Carbon steel pipe(40142101) |
|
Name |
Kim Joon-Nyeon |
|
Address |
- |
|
Date of Birth |
04/25/1974 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
4,900,000,000 |
|||||||||||||||||||||
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Employees |
262 |
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Formation |
Listed Company (KOSDAQ : 018310) as of 04/26/1996 |
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|
Bank Details |
Shinhan Bank |
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Corporate Registered No. |
110111-0400377 |
|||||||||||||||||||||
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Business Registered No. |
133-81-23898 |
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Permit & Licenses |
N/A |
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|
Shareholder Position |
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Company History |
06/07/1985 Incorporated as SAMMOK PRECISION
CO., LTD. 07/23/2010 Moved to the prese4nt HQ address
from 52, Gongdan 1-daero 260beon-gil, Siheung-si, Gyeonggi-do, Korea 04/2012 Changed company name to the present
name |
|||||||||||||||||||||
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|
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Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
President & CEO |
Mr. |
Kim Joon-Nyeon |
Korean |
1974.04.25 |
Yonsei University, Korea |
|
CEO |
Mr. |
Eom Seok-Ho |
Korean |
1962.10.24 |
Kunkuk University, Korea |
|
Director |
Mr. |
Kang Jung-Ki |
Korean |
1967.11. |
Dongah Technical High, Korea |
|
Outside Director |
Mr. |
Ha Woo-Sung |
Korean |
1958.01. |
Yonsei University, Korea |
|
Outside Director |
Mr. |
Myung Jae-Won |
Korean |
1974.09. |
Yonsei University, Korea |
|
Outside Director |
Mr. |
Lim Wan-Soon |
Korean |
1955.09. |
Korea University, Korea |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
(*)09/2014 |
187,069,553,290 |
209,389,338,773 |
32,817,122,725 |
|
(*)2013 |
217,853,218,508 |
191,929,101,588 |
21,247,711,188 |
|
(*)2012 |
145,950,930,163 |
151,111,284,317 |
4,987,749,487 |
|
2011 |
127,224,289,652 |
126,496,114,531 |
3,038,616,933 |
|
2010 |
124,061,021,025 |
153,545,270,511 |
10,514,855,821 |
(*)Figures are based
on the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
10,000,000,000 |
|
Paid-Up Capital(KRW) |
4,900,000,000 |
|
Total Issued Shares |
9,800,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
01/01/2014~09/30/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total Assets |
209,389,338,773 |
191,929,101,588 |
151,111,284,317 |
|
Current
Assets |
55,388,786,438 |
38,612,884,639 |
43,324,138,476 |
|
Cash & Cash Equivalents |
15,872,307,199 |
392,521,337 |
234,558,235 |
|
Trade Receivables |
34,865,319,445 |
35,130,217,324 |
39,001,356,335 |
|
Current Financial Instruments |
219,821,108 |
239,971,453 |
283,199,153 |
|
Inventories |
3,187,598,007 |
1,240,904,557 |
2,493,054,859 |
|
Current Non-Financial Instruments |
1,243,740,679 |
1,609,269,968 |
1,311,969,894 |
|
Non-Current
Assets |
154,000,552,335 |
153,316,216,949 |
107,787,145,841 |
|
Long-Term Trade Receivables |
294,973,515 |
157,162,845 |
176,407,107 |
|
Non-Current Financial Instruments |
4,063,612,798 |
3,207,538,078 |
2,063,493,118 |
|
Investment_Real Estates |
1,188,985,021 |
2,008,352,047 |
2,036,454,202 |
|
Tangibles |
148,304,120,571 |
147,794,303,549 |
103,361,930,984 |
|
Intangibles |
148,860,430 |
148,860,430 |
148,860,430 |
|
Total
Liabilities |
58,963,944,614 |
73,821,602,926 |
55,502,471,798 |
|
Current
Liabilities |
43,528,192,476 |
58,761,924,735 |
41,939,832,323 |
|
Trade Payables |
21,382,188,022 |
19,837,294,083 |
14,619,110,707 |
|
Account Payables |
8,734,701,372 |
9,120,499,750 |
4,846,280,029 |
|
Short-Term Borrowings |
0 |
24,976,830,599 |
20,268,953,533 |
|
Deferred Income Tax Credit |
8,265,003,928 |
4,566,066,714 |
2,031,156,998 |
|
Other Current Liabilities |
5,146,299,154 |
261,233,589 |
174,331,056 |
|
Non-Current
Liabilities |
15,435,752,138 |
15,059,678,191 |
13,562,639,475 |
|
Provision for Severance &
Retirement |
1,510,459,147 |
897,464,337 |
540,641,656 |
|
Other Non-Current Financial Debts |
2,730,000,000 |
3,088,000,000 |
2,105,000,000 |
|
Deferred Income Tax Credit |
11,195,292,991 |
11,074,213,854 |
10,916,997,819 |
|
Capital
Stock |
4,900,000,000 |
4,900,000,000 |
4,900,000,000 |
|
Capital Surplus |
729,757,509 |
729,757,509 |
8,490,175 |
|
Installments |
-16,727,724 |
-7,500,496 |
-1,058,714,270 |
|
Others |
4,016,666,666 |
4,083,333,333 |
4,150,000,000 |
|
Profit Surplus |
140,795,697,708 |
108,401,908,316 |
87,609,036,614 |
|
Total Equity |
150,425,394,159 |
118,107,498,662 |
95,608,812,519 |
|
Liab. & Shareholder’s Equity |
209,389,338,773 |
191,929,101,588 |
151,111,284,317 |
|
Income Statement |
|||
|
Unit : Korean Won |
01/01/2014~09/30/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
187,069,553,290 |
217,853,218,508 |
145,950,930,163 |
|
Cost of Sold Goods |
130,789,310,229 |
171,600,846,103 |
123,446,185,520 |
|
Gross Profit |
56,280,243,061 |
46,252,372,405 |
22,504,744,643 |
|
Selling & Admin. Expenses |
15,442,164,209 |
20,533,189,395 |
15,685,622,262 |
|
Operating Income |
40,838,078,852 |
25,719,183,010 |
6,819,122,381 |
|
Other Operating Income |
2,416,139,379 |
3,345,345,681 |
261,248,969 |
|
Other Operating Expenses |
119,949,358 |
204,938,966 |
124,951,535 |
|
Finance Income |
8,107,624 |
28,395,588 |
29,206,632 |
|
Finance Expenses |
354,052,969 |
1,538,707,459 |
616,742,871 |
|
Income Before Taxes |
42,788,323,528 |
27,349,277,854 |
6,367,883,576 |
|
Income Taxes Expenses |
9,971,200,803 |
6,101,566,666 |
1,380,134,089 |
|
Net Income |
32,817,122,725 |
21,247,711,188 |
4,987,749,487 |
|
Cash Flows |
|||
|
Unit : Korean Won |
01/01/2014~09/30/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Operating
Activities Cash Flows |
48,419,325,605 |
57,805,865,161 |
20,271,997,902 |
|
Net Income |
32,817,122,725 |
21,247,711,188 |
4,987,749,487 |
|
Adjustment |
21,742,677,156 |
40,140,518,152 |
16,563,118,541 |
|
Interests Received |
8,107,624 |
28,395,588 |
29,206,632 |
|
Income Taxes |
-6,148,581,900 |
-3,610,759,767 |
-1,308,076,758 |
|
Cash Flows from Investing |
-11,746,742,710 |
-63,337,115,729 |
-35,904,398,161 |
|
Cash Flows from Financing |
-21,192,797,033 |
5,689,213,670 |
15,155,156,206 |
|
Increase/Decrease in Cash |
15,479,785,862 |
157,963,102 |
-477,244,053 |
|
Cash at the Beginning of Year |
392,521,337 |
234,558,235 |
711,802,288 |
|
Cash at the End of Year |
15,872,307,199 |
392,521,337 |
234,558,235 |
|
Main Products & Services |
Euro Form, Panel Form, Gang Form, Aluminum Form, Tego
Plywood Brand Name : SAMMOK |
|
Suppliers |
HYUNDAI STEEL COMPANY(120111-0001743) |
|
Customers |
|
|
Competitors |
SEOBO INDUSTRIAL CO., LTD. 5,
DAEPUNG-RI, DAESO-MYEON, EUMSEONG-GUN, CHUNGCHEONGBUK-DO, KOREA TEL:+82-43-535-1922 FAX:+82-43-535-1966 HORY KOREA
CO., LTD. 277-5,
MYEONGDONG-RI, HALLIM-MYEON, GIMHAE-SI, GYEONGSANGNAM-DO, KOREA TEL:+82-55-342-5651 FAX:+82-55-342-5654 DONG IL IND.
CO., LTD. 1715-3,
NANJEON-RI, SAMHO-EUP, YEONGAM-GUN, JEOLLANAM-DO, KOREA TEL:+82-61-463-1800~9 FAX:+82-61-463-1810 |
|
Sales/ Unit :Mil
KRW |
09/2014 |
2013 |
2012 |
|
Export |
- |
128 |
4,169 |
|
Domestic |
187,070 |
217,725 |
141,782 |
|
Total |
187,070 |
217,853 |
145,951 |
Not Available.
No.
---------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.85 |
|
|
1 |
Rs.96.73 |
|
Euro |
1 |
Rs.76.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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.