|
Report Date : |
27.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
KISTRON CO., LTD. |
|
|
|
|
Registered Office : |
37, Sandan-ro 68beon-gil, Danwon-gu, Ansan-si, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
25.02.1987 |
|
|
|
|
Com. Reg. No.: |
134-81-07080 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Manufacture of Other Insulated Wire and Cable |
|
|
|
|
No. of Employees : |
140 |
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 : |
Slow but correct |
|
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Korea (South) |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
KOREA (SOUTH) - 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 |
Basic
|
Company Name |
KISTRON CO., LTD. (Ex. Company Name : SAMATRON CO., LTD. |
|
Registered Address |
37, Sandan-ro 68beon-gil, Danwon-gu, Ansan-si, Gyeonggi-do, Korea |
|
Zip Code |
425-852 |
|
Tel |
+82-31-491-6501 |
|
Fax |
+82-31-491-3681 |
|
E-mail |
cspark@samatron.com;csy@samatron.com |
|
Website |
www.samatron.com |
|
Trading Address |
37, Sandan-ro 68beon-gil, Danwon-gu, Ansan-si, Gyeonggi-do, Korea (Old Address System : 10B-74, 782-7, Wonsi-dong, Danwon-gu, Ansan-si,
Gyeonggi-do, Korea) |
|
Tel |
+82-31-491-6501 |
|
Fax |
+82-31-491-3681 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Other Insulated Wire and Cable |
|
Main Business |
CP Wire, Aluminum Wire, Communications Cable, Lead Wire |
|
Established (mm/dd/yyyy) |
02/25/1987 |
The Subject owns the premises of registered
HQ address.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Copper wire(26121517) |
|
Sell |
Telecommunications cable(26121616) |
|
Buy |
Metallic drums(24112108) |
|
Buy |
Base Metals(11101700) |
|
Buy |
Aluminum(11101705) |
|
Buy |
Packaging boxes(24121503) |
|
Buy |
Lead(11101714) |
|
Buy |
Copper(11101715) |
|
Buy |
Pallets(24112505) |
|
Buy |
Non metallic baskets(24112006) |
|
Buy |
Mechanical wire(31151800) |
CEO’s
|
Name |
Jung Min-Ho |
|
Address |
Suite 109-402, 80, Gwangdeok 1-ro, Danwon-gu,
Ansan-si, Gyeonggi-do |
|
Date of Birth |
11/27/1961 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
6,499,625,000 |
|||||||||||||||
|
Employees |
140 |
|||||||||||||||
|
Formation |
Co., Ltd by shares |
|||||||||||||||
|
Bank Details |
Korea Development Bank of Korea-Shihwa
Branch Hana Bank-Gyeongin HQ Office Industrial Bank of Korea- Ansan Central
Branch |
|||||||||||||||
|
Corporate Registered No. |
130111-0026955 |
|||||||||||||||
|
Business Registered No. |
134-81-07080 |
|||||||||||||||
|
Permit & Licenses |
08/30/2000 ISO 14001 06/30/2001 ISO 9001 Int’l Trade No.: 512110 |
|||||||||||||||
|
Shareholder Position |
(*)The List is based as of 12/31/2012. |
|||||||||||||||
|
Company History |
02/25/1987 Incorporated as SAMA ELECTRONICS
IND. CO., LTD. 11/1987 Awarded US$ 1 Million Export Top
Prize 03/1999 Designated as a Promising SME
Company 01/2000 Designated as a Venture Business 03/2000 Changed company name to SAMATRON CO.,
LTD. 11/2000 Awarded US$ 10 Million Export Top
Prize 12/2001 Designated as a Foreign Direct
Investment Corporation 10/12/2004 Designated as a Venture Business again 03/29/2007 Increased the authorized shares
to 5,000,000 shares from 3,000,000 shares 05/29/2007 Designated as a Venture Business
again 06/20/2008 Increased capital to
5,425,000,000 KRW from 2,825,000,000 KRW 02/24/2012 Acquired SM NEW MATERIALS CO.,
LTD.(131411-0157539) 01/01/2013 Changed company name to the
present name 10/31/2013 Increased capital to
6,499,625,000 KRW from 5,425,000,000 KRW |
|||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Jung Min-Ho |
Male |
Korean |
01/02/2014 |
|
Director |
Mr. |
Kwon Dae-Hee |
Male |
Korean |
03/23/2002 |
|
Director |
Mr. |
Lee Chang-Woo |
Male |
Korean |
03/28/2011 |
|
Director |
Mr. |
Kim Joo-Won |
Male |
Korean |
03/28/2012 |
|
Auditor |
Mr. |
Lee Cheon-Keun |
Male |
Korean |
03/28/2012 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
47,320,940,351 |
47,801,905,458 |
-4,957,885,508 |
|
|
2011 |
60,896,484,138 |
54,860,971,666 |
-763,363,749 |
|
2010 |
62,050,449,904 |
57,629,885,243 |
105,182,560 |
|
2009 |
45,022,497,161 |
61,339,133,125 |
211,958,906 |
|
2008 |
57,371,833,162 |
61,750,113,596 |
-2,497,282,129 |
|
2007 |
42,612,789,559 |
46,355,001,453 |
1,333,011,891 |
|
2006 |
38,015,432,177 |
39,843,510,719 |
1,016,957,460 |
|
2005 |
31,586,097,169 |
36,146,859,270 |
2,026,510,198 |
|
2004 |
29,367,185,187 |
33,258,149,583 |
1,047,403,922 |
Financial
Description
|
Authorized Capital(KRW) |
25,000,000,000 |
|
Paid-Up Capital(KRW) |
6,499,625,000 |
|
Total Issued Shares |
1,299,925 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Total Assets |
47,801,905,458 |
54,860,971,666 |
57,629,885,243 |
|
Current Assets |
25,150,263,915 |
28,885,223,038 |
31,495,735,281 |
|
-Quick Assets |
11,802,043,755 |
14,397,264,493 |
15,651,873,671 |
|
-Inventories |
13,348,220,160 |
14,487,958,545 |
15,843,861,610 |
|
Fixed Assets |
22,651,641,543 |
25,975,748,628 |
26,134,149,962 |
|
-Investment |
157,603,800 |
831,279,916 |
1,021,935,573 |
|
-Tangibles |
21,601,193,573 |
23,788,573,461 |
24,071,284,340 |
|
-Intangibles |
17,600,000 |
36,800,000 |
119,261,062 |
|
-Others |
875,244,170 |
1,319,095,251 |
921,668,987 |
|
Total Liabilities |
28,571,297,302 |
30,432,009,543 |
32,470,102,410 |
|
Current Liabilities |
25,761,276,739 |
26,075,765,941 |
28,662,128,228 |
|
Fixed Liabilities |
2,810,020,563 |
4,356,243,602 |
3,807,974,182 |
|
Capital Stock |
5,425,000,000 |
5,425,000,000 |
5,425,000,000 |
|
Capital Surplus |
12,090,704,202 |
12,090,704,202 |
12,090,704,202 |
|
Profit Surplus |
686,757,667 |
5,882,612,167 |
6,645,975,916 |
|
Capital Adjustment |
1,028,146,287 |
1,030,645,754 |
998,102,715 |
|
Total Equity |
19,230,608,156 |
24,428,962,123 |
25,159,782,833 |
|
Liab. & Shareholder’s Equity |
47,801,905,458 |
54,860,971,666 |
57,629,885,243 |
|
Current Liabilities |
25,761,276,739 |
26,075,765,941 |
28,662,128,228 |
|
Trade Payables |
1,756,016,454 |
2,999,308,354 |
3,544,571,380 |
|
Account Payables |
923,743,489 |
1,111,235,790 |
1,181,883,138 |
|
Short-Term Borrowings |
22,560,285,870 |
21,670,732,456 |
23,799,408,000 |
|
Current Portion of Long-Term Debts |
146,929,840 |
85,611,360 |
9,720,240 |
|
Other Current Liabilities |
374,301,086 |
118,913,454 |
126,545,470 |
|
Derivatives |
- |
89,964,527 |
- |
|
Fixed Liabilities |
2,810,020,563 |
4,356,243,602 |
3,807,974,182 |
|
Long-Term Borrowings |
1,847,469,840 |
3,419,399,680 |
2,571,011,040 |
|
Provision for Severance & Retirement |
1,038,772,210 |
1,065,233,559 |
1,523,886,165 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Sales |
47,320,940,351 |
60,896,484,138 |
62,050,449,904 |
|
Cost of Sold Goods |
44,090,628,560 |
53,583,086,001 |
54,390,636,938 |
|
Gross Profit |
3,230,311,791 |
7,313,398,137 |
7,659,812,966 |
|
Selling & Admin. Expenses |
6,219,327,244 |
5,857,854,633 |
6,052,521,870 |
|
Operating Income |
-2,989,015,453 |
1,455,543,504 |
1,607,291,096 |
|
Non-Operating Income |
2,123,469,922 |
2,227,612,024 |
2,390,358,052 |
|
Non-Operating Expenses |
3,138,929,368 |
4,610,245,049 |
3,946,420,105 |
|
Income Before Taxes |
-4,004,474,899 |
-927,089,521 |
51,229,043 |
|
Income Taxes Expenses |
953,410,609 |
-163,725,772 |
-53,953,517 |
|
Net Income |
-4,957,885,508 |
-763,363,749 |
105,182,560 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Cash Flows from Operating |
-482,082,929 |
6,121,783,818 |
1,083,515,051 |
|
-Net Income |
-4,957,885,508 |
-763,363,749 |
105,182,560 |
|
-Exp. without Cash Outflow |
5,244,400,896 |
5,919,090,196 |
4,593,134,310 |
|
-Revenue without Cash Inflows |
-1,337,077,279 |
-426,697,009 |
-232,899,529 |
|
-Changes in Asset/ & Liability |
568,478,962 |
1,392,754,380 |
-3,381,902,290 |
|
Cash Flows from Investing |
-555,903,733 |
-4,157,643,356 |
-3,260,489,819 |
|
-Cash Inflow from Investing |
42,463,382 |
377,469,543 |
649,822,020 |
|
-Cash Outflows for Investing |
-598,367,115 |
-4,535,112,899 |
-3,910,311,839 |
|
Cash Flows from Financing |
647,395,982 |
-1,579,312,240 |
1,982,862,843 |
|
-Cash Inflows from Financing |
58,115,339,342 |
934,000,000 |
1,982,862,843 |
|
-Cash Outflows from Financing |
-57,467,943,360 |
-2,513,312,240 |
- |
|
Increase/Decrease in Cash |
-390,590,680 |
384,828,222 |
-194,111,925 |
|
Cash at the Beginning of Year |
397,271,490 |
12,443,268 |
206,555,193 |
|
Cash at the End of Year |
6,680,810 |
397,271,490 |
12,443,268 |
Products, Technologies,
Services Description
|
Main Products & Services |
Lead Wire CP Wire AL Wire PB-Free Wire |
Trade Partners
& Competitors
|
Competitors |
GAON CABLE CO., LTD. 166, GEUMJEONG-DONG, GUNPO-SI, GYEONGGI-DO,
KOREA TEL:+82-31-459-6222 FAX:+82-31-454-1916 JS CABLE CO., LTD. 569, BOSEONG-RI, PUNGSE-MYEON, DONGNAM-GU,
CHEONAN-SI, CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-559-4800 FAX:+82-41-566-7919 DAEWON CABLE CO., LTD. 134-7, OCHU-RI, GODEOK-MYEON, YESAN-GUN,
CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-339-3400 FAX:+82-41-339-3406~7 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
KISWIRE CO., LTD.(180111-0001220) HONGDUK STEELCORD CO., LTD.(174611-0015485) HONGDUK ENGINEERING CO., LTD.(181211-0011664) HONGDUK INDUSTRIAL CO., LTD.(174611-0007408) HONG DUCK FINE CORD LTD.(194311-0001048) HONGDUK STC CO., LTD.(191411-0002154) HONGDUK CABLE CO., LTD.(180111-0079219) |
|
Subsidiary |
SAMA JEONGONG CO., LTD.(CHINA) (100.0% held by the subject company) SM NEW MATERIALS CO., LTD.(131411-0157539) (100.0% held by the subject company) |
|
Cooperative Enterprise |
-Insured Company DONGBU INSURANCE CO., LTD.(110111-0095285) |
Sales by Region
(Activity & Markets)
The Subject deals with the companies in China,
Taiwan, Indonesia, Japan, Malaysia and Singapore.
Court Action
|
Case No. |
Court |
Plaintiff(s)/ Creditor(s)/ Applicant(s) |
Defendant(s)/ Debtor(s)/ Respondent(s) |
Cause |
Amount (KRW) |
Status |
|
2012GAHAP4272 |
Suwon District Court-Ansan Branch |
The Subject company |
Daeyoung Conductor Co., Ltd.(Korea) & Others(1) |
Cancellation of Fraud Actions |
107,143,000 |
Proceeding |
Not Available
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.94 |
|
|
1 |
Rs.103.31 |
|
Euro |
1 |
Rs.85.11 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.