|
Report Date : |
04.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
SUN KYUNG
CHEMICAL CO., LTD. |
|
|
|
|
Registered Office : |
348, Hwasan-ri, Onsan-eup,
Ulju-gun, |
|
|
|
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Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
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|
|
|
Date of Incorporation : |
21.02.1997 |
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|
|
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Com. Reg. No.: |
610-81-26918 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Manufacturer
of All Other Chemical Products n.e.c. |
|
|
|
|
No of Employees : |
25 |
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 |
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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 – 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 |
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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. 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 |
SUN KYUNG
CHEMICAL CO., LTD. |
|
Registered Address |
348, Hwasan-ri, Onsan-eup,
Ulju-gun, Ulsan, Korea |
|
Zip Code |
689-896 |
|
Tel |
+82-52-239-4343 |
|
Fax |
+82-52-239-4340 |
|
E-mail |
|
|
Website |
|
|
Trading
Address |
348, Hwasan-ri, Onsan-eup,
Ulju-gun, Ulsan, Korea |
|
Tel |
+82-52-239-4343 |
|
Fax |
+82-52-239-4340 |
|
Type |
Export/Import |
|
Industry |
Manufacture
of All Other Chemical Products n.e.c. |
|
Main Business |
PVC
Stabilizers, Film Addition |
|
Established (mm/dd/yyyy) |
02/21/1997 |
The Subject owns
the premises of registered HQ address.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Additives(12160000) |
|
Sell |
Chemistry
reagents or solutions(41116105) |
|
Name |
Kim
Kyun |
|
Address |
Suite 113-2301, 2262, Yeonsan-dong, Yeonje-gu, Busan,
Korea |
|
Date of Birth |
01/15/1946 |
|
Title |
Chairman & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Mr Kim Kyun has been graduated from Dong Ah University, Korea.
|
Capital (KRW) |
1,000,000,000 |
|||||||||||||||
|
Employees |
25 |
|||||||||||||||
|
Formation |
Co.,
Ltd by shares |
|||||||||||||||
|
Bank Details |
Busan Bank-Ulsan Branch Woori Bank |
|||||||||||||||
|
Corporate Registered No. |
181211-0042601 |
|||||||||||||||
|
Business Registered No. |
610-81-26918 |
|||||||||||||||
|
Permit & Licenses |
Int’l
Trade No.: 167101 |
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|
Shareholder Position |
|
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Company History |
02/21/1997 Incorporated as the present name 11/2005 Awarded US$1 Million Export Top
Prize |
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|
|
|
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
Chairman
& CEO |
Mr. |
Kim Kyun |
Male |
Korean |
03/18/2003 |
|
President
& CEO |
Mr. |
Choi Dong-Soon |
Male |
Korean |
03/18/2009 |
|
Director |
Mr. |
Kim Byung-Eul |
Male |
Korean |
03/18/2009 |
|
Auditor |
Mr. |
Sohn Joo-Seob |
Male |
Korean |
08/20/2003 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
34,586,405,462 |
18,513,656,639 |
517,396,749 |
|
|
2011 |
33,636,932,637 |
17,401,161,198 |
493,369,163 |
|
2010 |
29,003,125,609 |
16,076,694,316 |
435,050,854 |
|
2009 |
27,598,760,187 |
13,949,221,598 |
456,112,669 |
|
2008 |
22,641,441,000 |
8,929,330,000 |
63,101,000 |
|
2007 |
16,551,020,000 |
6,883,842,000 |
147,159,000 |
|
2006 |
11,555,667,000 |
6,919,872,000 |
93,272,000 |
|
Authorized Capital(KRW) |
1,600,000,000 |
|
Paid-Up Capital(KRW) |
1,000,000,000 |
|
Total Issued Shares |
100,000 |
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Total Assets |
18,513,656,639 |
17,401,161,198 |
16,076,694,316 |
|
Current Assets |
10,325,518,221 |
9,742,382,677 |
8,335,175,230 |
|
-Quick
Assets |
7,967,898,848 |
7,494,607,316 |
6,477,176,071 |
|
-Inventories |
2,357,619,373 |
2,247,775,361 |
1,857,999,159 |
|
Fixed
Assets |
8,188,138,418 |
7,658,778,521 |
7,741,519,086 |
|
-Investment |
740,873,000 |
353,100,000 |
297,500,000 |
|
-Tangibles |
7,288,242,218 |
7,141,655,321 |
7,275,995,886 |
|
-Intangibles |
159,023,200 |
164,023,200 |
168,023,200 |
|
Total Liabilities |
13,528,120,698 |
12,833,022,006 |
12,001,924,287 |
|
Current Liabilities |
11,676,820,414 |
8,549,106,264 |
7,670,692,484 |
|
Fixed Liabilities |
1,851,300,284 |
4,283,915,742 |
4,331,231,803 |
|
Capital Stock |
1,000,000,000 |
1,000,000,000 |
1,000,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
2,401,418,321 |
1,984,021,572 |
1,490,652,409 |
|
Capital Adjustment |
1,584,117,620 |
1,584,117,620 |
1,584,117,620 |
|
Total Equity |
4,985,535,941 |
4,568,139,192 |
4,074,770,029 |
|
Liab. & Shareholder’s Equity |
18,513,656,639 |
17,401,161,198 |
16,076,694,316 |
|
Current Liabilities |
11,676,820,414 |
8,549,106,264 |
7,670,692,484 |
|
Trade Payables |
4,961,522,328 |
2,899,147,010 |
2,113,612,097 |
|
Short-Term Borrowings |
4,705,335,290 |
5,190,146,819 |
5,042,703,200 |
|
Account Payables |
234,128,944 |
278,110,281 |
267,190,283 |
|
Advance Receipts |
|
|
41,064,455 |
|
Accrued Expenses |
85,909,400 |
78,803,860 |
82,974,270 |
|
Current Portion of Long-Term Debts |
1,615,800,000 |
80,000,000 |
75,000,000 |
|
Withholdings |
20,612,500 |
21,479,996 |
17,448,880 |
|
Accrued Income Tax |
53,511,952 |
1,418,298 |
30,699,299 |
|
Fixed Liabilities |
1,851,300,284 |
4,283,915,742 |
4,331,231,803 |
|
Long-Term Borrowings |
1,028,600,000 |
2,509,269,838 |
2,858,069,838 |
|
Debentures |
500,000,000 |
1,500,000,000 |
1,000,000,000 |
|
Provision for Severance & Retirement |
544,146,054 |
499,048,001 |
473,161,965 |
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Sales |
34,586,405,462 |
33,636,932,637 |
29,003,125,609 |
|
Cost of Sold Goods |
30,949,937,068 |
29,838,408,044 |
25,511,437,219 |
|
Gross Profit |
3,636,468,394 |
3,798,524,593 |
3,491,688,390 |
|
Selling & Admin. Expenses |
2,296,801,292 |
2,147,420,183 |
2,155,255,460 |
|
Operating Income |
1,339,667,102 |
1,651,104,410 |
1,336,432,930 |
|
Non-Operating Income |
415,270,137 |
388,973,824 |
445,116,393 |
|
Non-Operating Expenses |
1,177,949,148 |
1,531,107,793 |
1,302,145,920 |
|
Income Before Taxes |
576,988,091 |
508,970,441 |
479,403,403 |
|
Income Taxes Expenses |
59,591,342 |
15,601,278 |
44,352,549 |
|
Net Income |
517,396,749 |
493,369,163 |
435,050,854 |
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Cash Flows from Operating |
2,149,914,928 |
461,489,408 |
669,939,402 |
|
-Net Income |
517,396,749 |
493,369,163 |
435,050,854 |
|
-Exp. without Cash Outflow |
567,021,821 |
575,245,639 |
421,661,120 |
|
-Revenue without Cash Inflows |
-20,485,303 |
-24,694,684 |
-18,602,494 |
|
-Changes in Asset/ & Liability |
1,085,981,661 |
-582,430,710 |
-168,170,078 |
|
Cash Flows from Investing |
-883,499,518 |
-470,978,159 |
-2,367,234,681 |
|
-Cash Inflow from Investing |
586,533,710 |
550,171,268 |
90,284,090 |
|
-Cash Outflows for Investing |
-1,470,033,228 |
-1,021,149,427 |
-2,457,518,771 |
|
Cash Flows from Financing |
-1,513,264,490 |
274,664,309 |
1,782,923,837 |
|
-Cash Inflows from Financing |
14,892,779,913 |
25,897,725,291 |
21,126,300,553 |
|
-Cash Outflows from Financing |
-16,406,044,403 |
-25,623,060,982 |
-19,343,376,716 |
|
Increase/Decrease in Cash |
-246,849,080 |
265,175,558 |
85,628,558 |
|
Cash at the Beginning of Year |
393,816,911 |
128,641,353 |
43,012,795 |
|
Cash at the End of Year |
146,967,831 |
393,816,911 |
128,641,353 |
|
Main Products & Services |
PVC Stabilizer -Stabilizer -Complex Stabilizer File Addition -UV-absorbent master batch -Keeping warm agent master batch -Anti-fogging agent master batch -Fog Adsorbent mater batch |
|
Suppliers |
LG
CHEM LTD.(110111-2207995) |
|
|
|
|
Competitors |
SONGWON
INDUSTRIAL CO., LTD. 737-2,
YEOCHEON-DONG, NAM-GU, ULSAN, KOREA TEL:+82-52-273-9841 FAX:+82-52-272-3528 DANSUK
INDUSTRIAL CO., LTD. 1DA-705,
SIHWA INDUSTRIAL COMPLEX, 1239-5, JEONGWANG 3-DONG, SIHEUNG-SI, GYEONGGI-DO,
KOREA TEL:+82-31-488-0700 FAX:+82-31-499-3909 ADEKA
KOREA CORP. 839,
YONGAM-RI, BONGDONG-EUP, WANJU-GUN, JEOLLABUK-DO, KOREA TEL:+82-63-262-7190 FAX:+82-63-262-7338 |
(Subsidiaries, Joint-Venture & Affiliates)
|
Cooperative Enterprise |
-Insured Company NONGHYUP
LIFE-INSURANCE CO., LTD.(110111-4809377) |
News Clipping
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.68 |
|
|
1 |
Rs. 102.96 |
|
Euro |
1 |
Rs. 84.57 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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.