|
Report Date : |
06.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
SD CORPORATION |
|
|
|
|
Registered Office : |
28, Noksansandan 381-ro, Gangseo-gu, Busan, Korea |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
18.06.1998 |
|
|
|
|
Com. Reg. No.: |
620-81-17361 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Wholesale of Wood and Builders' Joinery Wood |
|
|
|
|
No. of Employees : |
52 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 |
Basic
|
Company Name |
SD CORPORATION (Korean Company Name : “에스디상사(주)”) |
|
Registered
Address |
28, Noksansandan 381-ro, Gangseo-gu, Busan, Korea |
|
Building |
|
|
Zip Code |
618-819 |
|
Tel |
+82-51-831-9100 |
|
Fax |
+82-51-831-0032 |
|
E-mail |
sdcorp21@naver.com |
|
Website |
www.sdhome.co.kr |
|
Trading Address |
28, Noksansandan 381-ro, Gangseo-gu, Busan, Korea (Old Address System : 1650-5, Songjeong-dong, Gangseo-gu, Busan, Korea) |
|
Tel |
+82-51-831-9100 |
|
Fax |
+82-51-831-0032 |
|
Other Address |
|
|
Tel |
|
|
Fax |
|
|
Type |
Import |
|
Industry |
Wholesale of Wood and Builders' Joinery Wood |
|
Main Business |
Lumber, Wood Products, Construction Materials |
|
Sub Business |
|
|
Established
(mm/dd/yyyy) |
06/18/1998 |
The Subject owns
the premises of registered HQ address.
Detailed Products
|
Activity |
Detailed
Products (UNSPSC) |
|
Sell |
Plywood(11121609) |
|
Sell |
Wood(11121600) |
CEO’s
|
Name |
Wang Min |
|
Address |
Suite
207-2502, 1479, Geoje-dong, Yeonje-gu, Busan, Korea |
|
Date of Birth |
08/20/1968 |
|
Title |
President
& CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
250,000,000 |
||||||||||||
|
Employees |
52 |
||||||||||||
|
Formation |
Co., Ltd by Shares Venture Business |
||||||||||||
|
Bank Details |
Gyungnam Bank Kookmin
Bank-Sasang Corporate Finance Branch Industrial
Bank of Korea Busan Bank |
||||||||||||
|
Corporate
Registered No. |
230111-0050630 |
||||||||||||
|
Business
Registered No. |
620-81-17361 |
||||||||||||
|
Permit &
Licenses |
Int’l Trade No.: 17000750 |
||||||||||||
|
Shareholder
Position |
|
||||||||||||
|
Company
History |
06/18/1998
Incorporated as SD CO., LTD. 09/2001
Changed company name to the present name 12/24/2003
Increased capital to 250,000,000 KRW from 200,000,000 KRW 03/09/2008
Moved to the present HQ address from 642, Eomgung-dong,
Sasang-gu, Busan, Korea 04/21/2011
Designated as a Venture Business |
||||||||||||
|
|
|
Management
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
President & CEO |
Mr. |
Wang Min |
Male |
Korean |
08/22/2003 |
|
Director |
Mr. |
Yeom Jae-Seok |
Male |
Korean |
04/19/2000 |
|
Auditor |
Mr. |
Ko Kwon-Jin |
Male |
Korean |
03/28/2011 |
|
Year / Unit :
KRW |
Sales |
Assets |
Net Income |
|
36,073,532,627 |
26,597,036,850 |
3,112,409,826 |
|
|
2011 |
30,868,438,523 |
17,922,777,324 |
1,845,441,202 |
|
2010 |
33,824,115,805 |
13,727,830,303 |
1,677,217,386 |
|
2009 |
23,220,990,360 |
13,243,685,965 |
976,529,061 |
|
2008 |
22,527,125,382 |
11,749,890,290 |
-1,091,053,146 |
Financial Description
|
Authorized
Capital(KRW) |
800,000,000 |
|
Paid-Up
Capital(KRW) |
250,000,000 |
|
Total Issued
Shares |
25,000 |
|
Balance Sheet |
|||
|
Unit : Korean
Won |
As of
12/31/2012 |
As of
12/31/2011 |
As of
12/31/2010 |
|
Total Assets |
26,597,036,850 |
17,922,777,324 |
13,727,830,303 |
|
Current Assets |
15,870,765,036 |
10,629,554,663 |
7,009,520,836 |
|
-Quick Assets |
8,956,784,955 |
5,927,379,426 |
4,077,837,817 |
|
-Inventories |
6,913,980,081 |
4,702,175,237 |
2,931,683,019 |
|
Fixed Assets |
10,726,271,814 |
7,293,222,661 |
6,718,309,467 |
|
-Investment |
598,562,765 |
1,221,039,447 |
527,155,314 |
|
-Tangibles |
9,744,877,139 |
5,821,015,304 |
6,026,717,606 |
|
-Intangibles |
2,400,000 |
4,800,000 |
7,200,000 |
|
-Others |
380,431,910 |
246,367,910 |
157,236,547 |
|
Total
Liabilities |
17,427,247,709 |
11,859,250,278 |
9,498,149,199 |
|
Current
Liabilities |
12,667,356,314 |
10,208,620,127 |
8,272,316,598 |
|
Fixed
Liabilities |
4,759,891,395 |
1,650,630,151 |
1,225,832,601 |
|
Capital Stock |
250,000,000 |
250,000,000 |
250,000,000 |
|
Capital
Surplus |
|
|
|
|
Profit Surplus |
8,920,815,515 |
5,808,405,689 |
3,962,964,487 |
|
Capital
Adjustment |
-1,026,374 |
5,121,357 |
16,716,617 |
|
Total Equity |
9,169,789,141 |
6,063,527,046 |
4,229,681,104 |
|
Liab. &
Shareholder’s Equity |
26,597,036,850 |
17,922,777,324 |
13,727,830,303 |
|
Current Liabilities |
12,667,356,314 |
10,208,620,127 |
8,272,316,598 |
|
Trade Payables |
107,330,903 |
860,312,773 |
67,426,031 |
|
Short-Term Borrowings |
11,352,456,634 |
8,494,848,300 |
6,641,217,514 |
|
Current Portion of Long-Term Debts |
170,996,000 |
162,496,000 |
570,000,000 |
|
Account Payables |
342,861,338 |
292,930,994 |
412,461,867 |
|
Advance Receipts |
77,840,496 |
102,779,736 |
48,889,949 |
|
Withholdings |
19,838,360 |
18,431,410 |
8,028,160 |
|
VAT Withhold |
33,536,320 |
183,249,985 |
259,457,408 |
|
Accrued Income Tax |
550,860,889 |
74,227,644 |
251,510,206 |
|
Accrued Expenses |
11,635,374 |
19,343,285 |
13,325,463 |
|
Fixed
Liabilities |
4,759,891,395 |
1,650,630,151 |
1,225,832,601 |
|
Long-Term Borrowings |
4,454,999,000 |
1,552,995,000 |
1,144,000,000 |
|
Provision for Severance & Retirement |
340,854,020 |
251,162,059 |
246,621,045 |
|
Provision for Mileage |
200,000,000 |
12,000,000 |
- |
|
Income Statement |
|||
|
Unit : Korean
Won |
As of
12/31/2012 |
As of
12/31/2011 |
As of
12/31/2010 |
|
Sales |
36,073,532,627 |
30,868,438,523 |
33,824,115,805 |
|
Cost of Sold
Goods |
30,099,861,834 |
25,312,460,957 |
28,784,387,635 |
|
Gross Profit |
5,973,670,793 |
5,555,977,566 |
5,039,728,170 |
|
Selling &
Admin. Expenses |
3,024,251,130 |
2,617,652,090 |
2,179,847,982 |
|
Operating
Income |
2,949,419,663 |
2,938,325,476 |
2,859,880,188 |
|
Non-Operating
Income |
1,789,787,841 |
383,694,080 |
428,507,246 |
|
Non-Operating
Expenses |
899,372,113 |
1,226,961,883 |
1,314,911,042 |
|
Income Before
Taxes |
3,839,835,391 |
2,095,057,673 |
1,973,476,392 |
|
Income Taxes
Expenses |
727,425,565 |
249,616,471 |
296,259,006 |
|
Net Income |
3,112,409,826 |
1,845,441,202 |
1,677,217,386 |
|
Cash Flows |
|||
|
Unit : Korean
Won |
As of 12/31/2012 |
As of
12/31/2011 |
As of
12/31/2010 |
|
Cash Flows
from Operating |
-857,728,583 |
-318,865,053 |
2,863,091,325 |
|
-Net Income |
3,112,409,826 |
1,845,441,202 |
1,677,217,386 |
|
-Exp. without
Cash Outflow |
694,647,657 |
1,002,103,883 |
1,017,528,727 |
|
-Revenue
without Cash Inflows |
-1,031,711,892 |
-93,725,665 |
-47,999,424 |
|
-Changes in
Asset/ & Liability |
-3,633,074,174 |
-3,072,684,473 |
216,344,636 |
|
Cash Flows
from Investing |
-5,816,959,364 |
-879,351,870 |
-478,826,683 |
|
-Cash Inflow
from Investing |
6,444,617,734 |
5,977,998,675 |
3,195,472,264 |
|
-Cash Outflows
for Investing |
-12,261,577,098 |
-6,857,350,545 |
-3,674,298,947 |
|
Cash Flows
from Financing |
6,812,236,127 |
1,368,568,527 |
-2,026,282,541 |
|
-Cash Inflows
from Financing |
39,342,501,019 |
22,834,218,383 |
23,163,318,040 |
|
-Cash Outflows
from Financing |
-32,530,264,892 |
-21,465,649,856 |
-25,189,600,581 |
|
Increase/Decrease
in Cash |
137,548,180 |
170,351,604 |
357,982,101 |
|
Cash at the
Beginning of Year |
531,275,637 |
360,924,033 |
2,941,932 |
|
Cash at the
End of Year |
668,823,817 |
531,275,637 |
360,924,033 |
Products,
Technologies, Services Description
|
Main Products
& Services |
Lumber
Products |
|
Detailed
Products Spec. |
|
|
Technologies
Acquired |
|
Trade Partners &
Competitors
|
Suppliers |
|
|
Customers |
EAGON INDUSTRIAL LTD.(120111-0001959) |
|
Competitors |
KWANG WON
LUMBER CO., LTD. 162-7L, NAMDONG
INDUSTRIAL COMPLEX, 736-4, GOJAN-DONG, NAMDONG-GU, INCHEON, KOREA TEL:+82-32-811-7100 FAX:+82-32-811-0470 DK KOREA LTD. RM. 310, JEONGSEOK BLDG. ANNEX, 7-241,
SINHEUNGDONG 3-GA, JUNG-GU, INCHEON, KOREA TEL:+82-32-886-8933 FAX:+82-32-885-8933 SAMSUNG WOOD
CO., LTD. 698-4,
BULLO-DONG, SEO-GU, INCHEON, KOREA TEL:+82-32-562-6333 FAX:+82-32-562-9162 |
Related Parties (Subsidiaries, Joint-Venture & Affiliates)
Sales by Region
(Activity & Markets)
The Subject
imports from Russia and Indonesia.
Court Action
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.41 |
|
|
1 |
Rs.102.54 |
|
Euro |
1 |
Rs.85.20 |
INFORMATION DETAILS
|
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.