|
Report Date : |
10.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
OH YOUNG CO., LTD. |
|
|
|
|
Formerly Known As : |
OH YOUNG INDUSTRIAL CO., LTD. |
|
|
|
|
Registered Office : |
102, Somanggongwon-ro, Siheung-si, Gyeonggi-do |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
20.08.1981 |
|
|
|
|
Com. Reg. No.: |
128-81-02417 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Manufacturer of Synthetic Colouring Matter, Tanning Materials and
Other Coloring Agents |
|
|
|
|
No of Employees : |
160 |
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 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 |
OH YOUNG CO., LTD. (Ex. Company Name : OH YOUNG INDUSTRIAL CO., LTD.,) |
|
Registered Address |
102,
Somanggongwon-ro, Siheung-si, Gyeonggi-do, Korea (Old Address System : 1250-1, Jeongwang
3-dong, Siheung-si, Gyeonggi-do, Korea) |
|
Building |
1Ra-402,
Sihwa Industrial Complex |
|
Zip Code |
429-914 |
|
Tel |
+82-31-499-2781 |
|
Fax |
+82-31-499-2785 |
|
E-mail |
|
|
Website |
|
|
Trading
Address |
6th
Fl., Sem Top Bldg., 59, Singil-ro, Yeongdeungpo-gu, Seoul, Korea (Old Address System : 6th Fl., Sem Top
Bldg., 448-16, Singil 5-dong, Yeongdeungpo-gu, Seoul, Korea) |
|
Tel |
+82-2-834-5050 |
|
Fax |
+82-2-836-5101 |
|
Other
Address-Munsan Factory |
685-3,
Seonyu-ri, Munsan-eup, Paju-si, Gyeonggi-do, Korea |
|
Tel |
+82-2-834-5050 |
|
Fax |
+82-2-836-5101 |
|
Type |
Export/Import |
|
Industry |
Manufacture
of Synthetic Colouring Matter, Tanning Materials and Other Coloring Agents |
|
Main Business |
Reactive
Dyes, Disperse Dyes, Acid Dyes, Direct Dyes, Ink |
|
Sub
Business |
Manufacture
of Surface-Active Agents |
|
Established (mm/dd/yyyy) |
08/20/1981 |
The Subject owns
the premises of registered HQ address and Munsan Factory.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Phthalein
dyes(12171502) |
|
Sell |
Dyes(12171500) |
|
Sell |
Ink
and lead refills(44121900) |
|
Sell |
Reactive Dyestuffs |
|
Name |
Chung
Hong-Key |
|
Address |
Suite C-4103, 56, Eonju-ro 30-gil,
Gangnam-gu, Seoul, Korea |
|
Date of Birth |
135-270 |
|
Title |
Chairman & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
500,000,000 |
|||||||||||||||||||||||||||
|
Employees |
160 |
|||||||||||||||||||||||||||
|
Formation |
Co., Ltd by shares |
|||||||||||||||||||||||||||
|
Bank Details |
Industrial Bank of Korea Shinhan Bank Korea Exchange Bank |
|||||||||||||||||||||||||||
|
Corporate Registered No. |
115611-0001071 |
|||||||||||||||||||||||||||
|
Business Registered No. |
128-81-02417 |
|||||||||||||||||||||||||||
|
Permit & Licenses |
The subject became the first member of ETAD(Ecological
and Toxicological Association of Dyes and Organic Pigments Manufacturers)
among the Korean dyestuff makers in 1995. The subject obtained ISO14001 certificate
in Shi-wha factory from TUV Rheinland(Germany) in 07/1999. And two patents acquired. |
|||||||||||||||||||||||||||
|
Shareholder Position |
|
|||||||||||||||||||||||||||
|
Company History |
08/20/1981 Incorporated as OH YOUNG INDUSTRIAL CO., LTD. 12/29/2005 Moved to the present HQ address
from 685-3, Seonyu-ri, Munsan-eup, Paju-si, Gyeonggi-do, Korea 12/23/2013
Changed company name to the present name |
|||||||||||||||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Chairman & CEO |
Mr. |
Chung
Hong-Key |
Male |
Korean |
08/07/2000 |
|
President & CEO |
Mr. |
Chung
Jin-Wook |
Male |
Korean |
12/23/2013 |
|
Director |
Mr. |
Chung
Yoong-Sung |
Male |
Korean |
05/18/1999 |
|
Director |
Mr. |
Lee
Jeong-Bok |
Male |
Korean |
05/18/2005 |
|
Director |
Mr. |
Kim
Seung-Nyon |
Male |
Korean |
06/09/2006 |
|
Auditor |
M/S. |
Chung
Mi-Ji |
Female |
Korean |
03/31/2007 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
124,086,226,732 |
93,916,560,057 |
2,383,340,607 |
|
|
2011 |
105,130,676,018 |
99,986,861,963 |
382,378,575 |
|
2010 |
124,043,426,197 |
87,348,800,177 |
1,741,882,927 |
|
2009 |
108,395,349,366 |
80,441,551,720 |
3,975,474,880 |
|
2008 |
91,048,721,052 |
76,444,332,558 |
2,723,092,632 |
|
2007 |
66,813,636,284 |
69,239,217,069 |
861,986,827 |
|
2006 |
61,739,691,331 |
62,326,139,922 |
452,416,555 |
|
2005 |
52,031,979,901 |
58,844,442,062 |
307,938,785 |
|
2004 |
50,344,436,618 |
57,709,001,059 |
775,480,083 |
|
2003 |
50,022,950,927 |
58,257,822,559 |
604,220,322 |
|
Authorized Capital(KRW) |
1,200,000,000 |
|
Paid-Up Capital(KRW) |
500,000,000 |
|
Total Issues Shares |
100,000 |
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Total Assets |
93,916,560,057 |
99,986,861,963 |
87,348,800,177 |
|
Current Assets |
70,578,745,363 |
75,350,686,321 |
63,379,610,484 |
|
-Quick
Assets |
40,462,199,566 |
38,779,079,499 |
37,017,092,556 |
|
-Inventories |
30,116,545,797 |
36,571,606,822 |
26,362,517,928 |
|
Fixed
Assets |
23,337,814,694 |
24,636,175,642 |
23,969,189,693 |
|
-Investment |
3,422,090,895 |
3,201,475,496 |
3,168,861,140 |
|
-Tangibles |
19,341,720,251 |
21,050,695,386 |
20,398,914,059 |
|
-Intangibles |
89,371,875 |
23,646,760 |
33,884,094 |
|
-Others |
484,631,673 |
360,358,000 |
367,530,400 |
|
Total Liabilities |
45,675,873,973 |
53,999,353,526 |
41,743,670,315 |
|
Current Liabilities |
39,401,107,794 |
48,173,429,979 |
35,889,650,978 |
|
Fixed Liabilities |
6,274,766,179 |
5,825,923,547 |
5,854,019,337 |
|
Capital Stock |
500,000,000 |
500,000,000 |
500,000,000 |
|
Capital Surplus |
9,191,920,822 |
9,191,920,822 |
9,191,920,822 |
|
Profit Surplus |
38,548,765,262 |
36,295,587,615 |
35,913,209,040 |
|
Capital Adjustment |
|
|
|
|
Total Equity |
48,240,686,084 |
45,987,508,437 |
45,605,129,862 |
|
Liab. & Shareholder’s Equity |
93,916,560,057 |
99,986,861,963 |
87,348,800,177 |
|
Current
Liabilities |
39,401,107,794 |
48,173,429,979 |
35,889,650,978 |
|
Trade Payables |
3,589,547,502 |
3,946,544,010 |
4,380,541,838 |
|
Short-Term Borrowings |
30,546,066,391 |
39,667,403,261 |
27,776,308,403 |
|
Account Payables |
223,400,000 |
784,854,468 |
17,100,000 |
|
Accrued Expenses |
3,589,888,377 |
3,098,687,577 |
2,849,909,877 |
|
Withholdings |
615,335,433 |
440,457,341 |
354,803,109 |
|
Advance Receipts |
327,458,131 |
91,185,282 |
226,739,341 |
|
Accrued Income Tax |
285,325,740 |
39,167,370 |
160,204,990 |
|
Provision for Products Guarantee |
124,086,220 |
105,130,670 |
124,043,420 |
|
Current
Portion of Long-Term Borrowings |
100,000,000 |
- |
- |
|
Fixed
Liabilities |
6,274,766,179 |
5,825,923,547 |
5,854,019,337 |
|
Long-Term Borrowings |
1,754,000,000 |
1,854,000,000 |
1,854,000,000 |
|
Provision for Severance & Retirement |
8,884,756,390 |
7,984,689,880 |
7,601,970,840 |
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Sales |
124,086,226,732 |
105,130,676,018 |
124,043,426,197 |
|
Cost of Sold Goods |
110,029,185,881 |
92,152,188,862 |
107,990,031,585 |
|
Gross Profit |
14,057,040,851 |
12,978,487,156 |
16,053,394,612 |
|
Selling & Admin. Expenses |
11,081,836,595 |
10,923,379,684 |
12,679,972,122 |
|
Operating Income |
2,975,204,256 |
2,055,107,472 |
3,373,422,490 |
|
Non-Operating Income |
2,687,346,016 |
1,816,702,275 |
2,391,075,587 |
|
Non-Operating Expenses |
2,941,694,485 |
3,336,588,403 |
3,468,642,070 |
|
Income Before Taxes |
2,720,855,787 |
535,221,344 |
2,295,856,007 |
|
Income Taxes Expenses |
337,515,180 |
152,842,769 |
553,973,080 |
|
Net Income |
2,383,340,607 |
382,378,575 |
1,741,882,927 |
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Cash Flows from Operating |
8,583,846,490 |
-9,217,010,173 |
3,017,834,077 |
|
-Net Income |
2,383,340,607 |
382,378,575 |
1,741,882,931 |
|
-Exp. without Cash Outflow |
3,707,595,583 |
6,140,861,510 |
5,196,341,689 |
|
-Revenue without Cash Inflows |
-1,255,572,611 |
-722,733,439 |
-348,838,268 |
|
-Changes in Asset/ & Liability |
3,748,482,911 |
-15,017,516,819 |
-3,571,552,275 |
|
Cash Flows from Investing |
-903,971,957 |
-3,562,070,907 |
-4,578,813,636 |
|
-Cash Inflow from Investing |
4,454,914,082 |
966,274,673 |
1,357,337,581 |
|
-Cash Outflows for Investing |
-5,358,886,039 |
-4,528,345,580 |
-5,936,151,217 |
|
Cash Flows from Financing |
-7,894,690,454 |
11,512,456,822 |
2,801,044,688 |
|
-Cash Inflows from Financing |
76,201,900,662 |
88,037,081,360 |
88,239,229,813 |
|
-Cash Outflows from Financing |
-84,096,591,116 |
-76,524,624,538 |
-85,438,185,125 |
|
Increase/Decrease in Cash |
-214,815,921 |
-1,266,624,258 |
1,240,065,129 |
|
Cash at the Beginning of Year |
808,715,824 |
2,075,340,082 |
835,274,953 |
|
Cash at the End of Year |
593,899,903 |
808,715,824 |
2,075,340,082 |
|
Main Products & Services |
Reactive Dyes Disperse Dyes Acid Dyes Direct Dyes Ink Petrochemical Raw Materials Inorganic Chemical & Fertilizer Brand Name: “Suncolours”, “Suncid”,
“Sunrrect”, “Suntex”, “Sunfix Sufra” |
|
Suppliers |
HANA
CAPITAL CO., LTD.(110111-0519970) provides vehicles leasing service to the
subject company. |
|
Customers |
|
|
Competitors |
COLORANT COREA CORPORATION 782-4, EOGOK-DONG, YANGSAN-SI,
GYEONGSANGNAM-DO, KOREA TEL:+82-55-388-9003 FAX:+82-55-388-9006 MYUNGJIN TRADING CO., LTD. 4TH FL., MYEONGJIN BLDG., 236-7, NONHYEON
2-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-546-5040 FAX:+82-2-546-6566 YOOJIN CHEMICAL CO., LTD. 8B-28L, BANWOL INDUSTRIAL COMPLEX, 743-7,
WONSI-DONG, DANWON-GU, ANSAN-SI, GYEONGGI-DO, KOREA TEL:+82-31-494-0618 FAX:+82-31-494-0617 |
|
Affiliates |
SEM INC.(110111-2013681) 1250-2, JEONGWANG-DONG, SIHEUNG-SI,
GYEONGGI-DO, KOREA TEL:+82-31-434-8390 |
|
Cooperative Enterprise |
-Insured Company LIG
INSURANCE CO., LTD.(110111-0017859) |
|
Sales/ Unit
: KRW |
2012 |
2011 |
2010 |
|
Export |
71,033,847,020 |
52,091,535,794 |
72,253,498,749 |
|
Domestic |
52,987,182,483 |
52,910,921,725 |
51,749,290,903 |
|
Others |
65,197,229 |
128,218,499 |
40,636,545 |
|
Total |
124,086,226,732 |
105,130,676,018 |
124,043,426,197 |
The subject deals
with the companies in China, India, Turkey, USA and Pakistan.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.31 |
|
|
1 |
Rs. 101.77 |
|
Euro |
1 |
Rs. 84.68 |
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.