MIRA INFORM REPORT

 

 

Report Date :

09.01.2014

 

IDENTIFICATION DETAILS

 

Name :

JT CORPORATION

 

 

Registered Office :

135, 4 Sandan 3-Ro Jiksan-Eup, Seobuk-Gu Cheonan, 331814 Korea, Republic of

 

 

Country :

South Korea

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

07.07.1998

 

 

Legal Form :

Public Independent

 

 

Line of Business :

Subject is engaged in the manufacture of semiconductor testing equipment.

 

 

No. of Employees :

126

 

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

 

company name and address

 

JT CORPORATION

 

 

 

135, 4 Sandan 3-Ro

Jiksan-Eup, Seobuk-Gu

 

Cheonan, 331814

Korea, Republic of

 

 

Tel:

82-70-41720100

Fax:

82-41-5840134

 

Employees:

126

Company Type:

Public Independent

Traded:

KOSDAQ:

089790

Incorporation Date:

07-Jul-1998

Auditor:

Sinjung Accounting Corporation

 

 

Fiscal Year End:

31-Dec-2012

Reporting Currency:

South Korean Won

Annual Sales:

62.4  1

Net Income:

1.2

Total Assets:

27.5  2

Market Value:

19.6

 

(06-Dec-2013)

 

 

office Address

 

302 7 Gukhoe-Daero

70-Gil Yeongdeungpo-Gu

Seoul 150-871 Korea

South Korea

 

 

Business Description     

 

 

JT Corporation is a Korea-based company mainly engaged in the manufacture of semiconductor testing equipment. The Company’s products consist of semiconductor systems, including burn-in sorters, test handlers and others; light-emitting diode (LED) systems, such as LED probes and LED sorters; vision systems, including vision inspection systems and pick and place handlers, as well as organic light-emitting diode (OLED) testing equipment, laser pattern equipment, multilayer laminator equipment and other equipment components. It was also engaged in the provision of intelligent transport systems (ITSs). On June 1, 2012, the Company spun-off ITS business into a newly established wholly owned subsidiary. For the six months ended 30 June 2013, JT Corporation revenues decreased 65% to W13.71B. Net loss before extraordinary items totaled W357.5M vs. income of W5.31B. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Net loss reflects Salaries & Wages increase of 44% to W982M (expense), Expense of Allow. for DA increase from W0K to W65.8M (expense).

 

Industry

             

 

Industry

Electromedical and Control Instruments Manufacturing

ANZSIC 2006:

2419 - Other Professional and Scientific Equipment Manufacturing

ISIC Rev 4:

2651 - Manufacture of measuring, testing, navigating and control equipment

NACE Rev 2:

2651 - Manufacture of instruments and appliances for measuring, testing and navigation

NAICS 2012:

334515 - Instrument Manufacturing for Measuring and Testing Electricity and Electrical Signals

UK SIC 2007:

2651 - Manufacture of instruments and appliances for measuring, testing and navigation

US SIC 1987:

3825 - Instruments for Measuring and Testing of Electricity and Electrical Signals

 

 

 

Key Executives   

 

 

Name

Title

 

Hong Jun Yoo

Chief Executive Officer, Director

 

Jong Bok Kim

President, Chief Technology Officer, Director

 

Dae Ho Yim

Vice President, Director

 

Jong Guk Kim

Chief Financial Officer, Assistant Managing Director

 

Yun Hui Cho

IR Contact Officer

 

 

Significant Developments

 

 

Topic

#*

Most Recent Headline

Date

Business Deals

1

JT Corp Signs Contract with DYT

7-Jun-2013

Debt Financing / Related

4

JT Corp adjusts exercise price of second bonds with warrants

9-Dec-2013

 

             

News   

 

 

Title

Date

Mr. JT... we salute you! Here's 20 ways Justin Timberlake delivered a 'TKO' in 2013.
Capital Radio (87 Words)

30-Dec-2013

J.T. Wimsatt Contracting Company, Inc. Wins Experts Choice Award
PR.com (413 Words)

30-Dec-2013

J.T. Wimsatt Contracting Company, Inc. Wins Experts' Choice Award
1888PressRelease (397 Words)

30-Dec-2013

JT Tech Show Featuring AkihabaraNews: Special Episode with Brad Bartz (INTERVIEW)
Akihabara News (232 Words)

29-Dec-2013

Who inspires Britney? Beyonce -- and ex JT
USA Today (282 Words)

29-Dec-2013

Terrell returns to lineup and leads USC to victory
Orange County Register (80 Words)

29-Dec-2013

      


Financial Summary  

 

 

As of 30-Jun-2013

Key Ratios

Company

Industry

Current Ratio (MRQ)

2.73

3.90

Quick Ratio (MRQ)

2.59

3.02

Debt to Equity (MRQ)

0.62

0.21

Sales 5 Year Growth

21.86

11.04

Net Profit Margin (TTM) %

-1.48

19.30

Return on Assets (TTM) %

-1.46

15.21

Return on Equity (TTM) %

-3.20

21.72

 

 

    

 

Stock Snapshot

      

 

Traded: KOSDAQ: 089790

 

As of 6-Dec-2013

   Financials in: KRW

Recent Price

3,325.00

 

EPS

667.04

52 Week High

6,000.00

 

Price/Sales

0.29

52 Week Low

2,790.00

 

Price/Book

1.01

Avg. Volume (mil)

0.02

 

Beta

0.48

Market Value (mil)

20,703.38

 

 

 

 

Price % Change

Rel S&P 500%

4 Week

0.15%

0.37%

13 Week

-23.03%

-24.00%

52 Week

-7.77%

-9.20%

Year to Date

-19.69%

-19.02%

 

 

 

1 - Profit & Loss Item Exchange Rate: USD 1 = KRW 1126.849


2 - Balance Sheet Item Exchange Rate: USD 1 = KRW 1066.4

 

 

Corporate Overview

 

Location
135, 4 Sandan 3-Ro
Jiksan-Eup, Seobuk-Gu
Cheonan, 331814
Korea, Republic of

 

Tel:

82-70-41720100

Fax:

82-41-5840134

 

www.jtcorp.co.kr

Quote Symbol - Exchange

089790 - KOSDAQ

Sales KRW(mil):

70,349.7

Assets KRW(mil):

29,298.4

Employees:

126

Fiscal Year End:

31-Dec-2012

 

 

 

Industry:

Scientific and Technical Instruments

Incorporation Date:

07-Jul-1998

Company Type:

Public Independent

Quoted Status:

Quoted

 

Chief Executive Officer, Director:

Hong Jun Yoo

 

 

Industry Codes

 

ANZSIC 2006 Codes:

2419

-

Other Professional and Scientific Equipment Manufacturing

2469

-

Other Specialised Machinery and Equipment Manufacturing

 

ISIC Rev 4 Codes:

2651

-

Manufacture of measuring, testing, navigating and control equipment

2819

-

Manufacture of other general-purpose machinery

 

NACE Rev 2 Codes:

2651

-

Manufacture of instruments and appliances for measuring, testing and navigation

2829

-

Manufacture of other general-purpose machinery n.e.c.

 

NAICS 2012 Codes:

334515

-

Instrument Manufacturing for Measuring and Testing Electricity and Electrical Signals

333249

-

Other Industrial Machinery Manufacturing

 

US SIC 1987:

3825

-

Instruments for Measuring and Testing of Electricity and Electrical Signals

3559

-

Special Industry Machinery, Not Elsewhere Classified

 

UK SIC 2007:

2651

-

Manufacture of instruments and appliances for measuring, testing and navigation

2829

-

Manufacture of other general-purpose machinery n.e.c.

 

 

 

Business Description

 

JT Corporation is a Korea-based company mainly engaged in the manufacture of semiconductor testing equipment. The Company’s products consist of semiconductor systems, including burn-in sorters, test handlers and others; light-emitting diode (LED) systems, such as LED probes and LED sorters; vision systems, including vision inspection systems and pick and place handlers, as well as organic light-emitting diode (OLED) testing equipment, laser pattern equipment, multilayer laminator equipment and other equipment components. It was also engaged in the provision of intelligent transport systems (ITSs). On June 1, 2012, the Company spun-off ITS business into a newly established wholly owned subsidiary. For the six months ended 30 June 2013, JT Corporation revenues decreased 65% to W13.71B. Net loss before extraordinary items totaled W357.5M vs. income of W5.31B. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Net loss reflects Salaries & Wages increase of 44% to W982M (expense), Expense of Allow. for DA increase from W0K to W65.8M (expense).

 

 

More Business Descriptions

Manufacture of semiconductor equipment

 

Semiconductor Equipment Mfr

 

Semiconductor and Other Electronic Component Manufacturing

 

 

 

Financial Data

 

Financials in:

KRW(mil)

 

Revenue:

70,349.7

Net Income:

1,302.6

Assets:

29,298.4

Long Term Debt:

600.0

 

Total Liabilities:

9,255.2

 

Working Capital:

8.1

 

 

 

Date of Financial Data:

31-Dec-2012

 

1 Year Growth

60.4%

-15.8%

-31.2%

 

 

Market Data

 

Quote Symbol:

089790

Exchange:

KOSDAQ

Currency:

KRW

Stock Price:

3,325.0

Stock Price Date:

12-06-2013

52 Week Price Change %:

-7.8

Market Value (mil):

20,703,380.0

 

SEDOL:

B1FD9G9

ISIN:

KR7089790000

 

Equity and Dept Distribution:

All financials reflect non-consolidated data. Q3'05, financials not available. 03/07 is reclassified. 04/10, 3.00:1.00, Capital Reduction (F:0.333333). TICKER:089790

 

 

Key Corporate Relationships

Auditor:

Sinjung Accounting Corporation

 

Auditor:

Sinjung Accounting Corporation, Ihnduck Accounting Corporation

 

 

 

 

 

Executives Report

 

 

 

Board of Directors

 

Name

Title

Function

 

Yeong Jun Han

 

Non-Executive Independent Director

Director/Board Member

 

Age: 43

 

Education:

Soongsil University, PHD (Electronics Engineering)

 

Yeong Jae Jung

 

Non-Executive Independent Director

Director/Board Member

 

 

Biography:

Jung Yeong Jae is Non-Executive Independent Director in JT Corporation. Jung was Chief Executive Officer and Director in Testecsh Incorporation. Jung holds a Bachelor's degree in Electronics Engineering from Korea University.

 

Age: 57

 

Education:

Korea University, B (Electronics Engineering)

 

 

Executives

 

Name

Title

Function

 

Hong Jun Yoo

 

Chief Executive Officer, Director

Chief Executive Officer

 

Biography:

Yoo Hong Jun has been Chief Executive Officer and Director of JT Corporation since May 31, 2012. Previously, Yoo worked for SAMSUNG ELECTRONICS CO,.LTD and Hecenat Co.,Ltd's former entity. Yoo completed the Advanced Management Program from Sogang University and Korea University.

 

Age: 57

 

Jun Yoo

 

CEO

Chief Executive Officer

 

 

Jong Bok Kim

 

President, Chief Technology Officer, Director

President

 

 

Biography:

Kim Jong Bok has been President, Chief Technology Officer and Director of JT Corporation since December 2010. Currently, Kim is also serving as Chief Technology Officer at Sanesystem Co., LTD, where Kim had served as Chief Executive Officer. Kim received a Bachelor's degree in Electrical Engineering from Yonsei University, Korea.

 

Age: 50

 

Education:

Yonsei University, B (Electrical Engineering)

 

Jong Guk Kim

 

Chief Financial Officer, Assistant Managing Director

Managing Director

 

 

Biography:

Kim Jong Guk is Chief Financial Officer and Assistant Managing Director in JT Corporation. Kim worked for another Korea-based company. Kim holds a Bachelor's degree in Business Administration from Yeungnam University, Korea.

 

Age: 47

 

Education:

Yeungnam University, B (Business Administration)

 

Dae Ho Yim

 

Vice President, Director

Senior Management (General)

 

 

Biography:

Yim Dae Ho is Vice President and Director in JT Corporation. Yim holds a Bachelor of Law from Sungkyunkwan University, Korea. Yim was Chief Financial Officer and Chief Operating Officer in another Korea-based company and worked for two other Korea-based companies.

 

Age: 54

 

Education:

Sungkyunkwan University, LLB

 

Yun Hui Cho

 

IR Contact Officer

Investor Relations Executive

 

 

 

 

 

 

Significant Developments

 

 

 

JT Corp adjusts exercise price of second bonds with warrants

Dec 09, 2013


JT Corp:Says the exercise price of its second bonds with warrants were adjusted from 4,304 won per share to 3,612 won per share.Says effective date of Dec. 7 for the adjustment.

JT Corp Adjusts Exercise Price of Second Bonds with Warrants

Sep 09, 2013


JT Corp announced that it has adjusted the exercise price of its second bonds with warrants to KRW 4,304 per share from KRW 5,159 per share, effective September 7, 2013.

JT Corp Announces Subscription Results of Second Bonds with Warrants

Jun 07, 2013


JT Corp announced that all of its previously announced second unregistered/unsecured private bonds with warrants have been successfully subscribed as of June 7, 2013. The Company raised KRW 10 billion in proceeds from the bond offering.

JT Corp Signs Contract with DYT

Jun 07, 2013


JT Corp announced that it has signed a contract with DYT to supply tray vision. The contract amount is KRW 1,040 million.

JT Corp to Issue Second Bonds with Warrants

Jun 05, 2013


JT Corp announced the offering of its second unregistered/unsecured private bonds with warrants, raising KRW 10 billion in proceeds, for its operations. The details regarding the bond issuance are as follows: maturity on June 7, 2018, yield to maturity 1%, zero annual coupon, lump-sum redemption of principal on maturity date, 100% conversion rate of bonds to common shares at KRW 5,159 per share and exercise period from June 7, 2014 to May 7, 2018.

 

 

 News

 

 

Mr. JT... we salute you! Here's 20 ways Justin Timberlake delivered a 'TKO' in 2013.
Capital Radio (87 Words)

30-Dec-2013

 

 

J.T. Wimsatt Contracting Company, Inc. Wins Experts Choice Award
PR.com (413 Words)

30-Dec-2013

 

 

J.T. Wimsatt Contracting Company, Inc. Wins Experts' Choice Award
1888PressRelease (397 Words)

30-Dec-2013

 

 

JT Tech Show Featuring AkihabaraNews: Special Episode with Brad Bartz (INTERVIEW)
Akihabara News (232 Words)

29-Dec-2013

 

 

Who inspires Britney? Beyonce -- and ex JT
USA Today (282 Words)

29-Dec-2013

 

 

Terrell returns to lineup and leads USC to victory
Orange County Register (80 Words)

29-Dec-2013

 

 

Who inspires Britney? Beyonce, Bruno and her ex JT
USA Today (285 Words)

29-Dec-2013

 

 

Jessica Biel & Justin Timberlake: Unhappily Ever After?
Yahoo! 7 Lifestyle (102 Words)

29-Dec-2013

 

 

Colts put 3 starters on inactive list against Jags
Associated Press (140 Words)

29-Dec-2013

 

 

Microbial biofilms on needleless connectors for central venous ca...
IVTEAM (311 Words)

29-Dec-2013

 

 

Surge in fireworks permits leaves stores and shoppers in the lurch
Honolulu Star-Advertiser (45 Words)

29-Dec-2013

 


Annual Income Statement

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2012

Restated Normal
31-Dec-2012

Restated Normal
31-Dec-2011

Updated Normal
31-Dec-2009

Updated Normal
31-Dec-2008

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1126.848795

1107.891393

1156.281981

1276.385219

1100.562842

Auditor

Sinjung Accounting Corporation

Sinjung Accounting Corporation

Sinjung Accounting Corporation

Ihnduck Accounting Corp.

Ihnduck Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified with Explanation

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

62.4

39.6

54.1

5.7

9.4

Revenue

62.4

39.6

54.1

5.7

9.4

Total Revenue

62.4

39.6

54.1

5.7

9.4

 

 

 

 

 

 

    Cost of Revenue

54.2

29.5

43.3

5.2

7.7

Cost of Revenue, Total

54.2

29.5

43.3

5.2

7.7

Gross Profit

8.3

10.1

10.9

0.5

1.7

 

 

 

 

 

 

    Selling/General/Administrative Expense

1.9

1.9

2.8

1.3

1.4

    Labor & Related Expense

1.8

1.3

2.4

0.7

0.9

    Advertising Expense

0.0

0.0

0.0

0.0

0.0

Total Selling/General/Administrative Expenses

3.7

3.2

5.2

2.0

2.2

Research & Development

1.2

1.3

2.7

1.3

0.1

    Depreciation

0.0

0.1

0.2

0.2

0.1

    Amortization of Intangibles

0.0

0.1

0.3

0.1

0.1

Depreciation/Amortization

0.1

0.2

0.4

0.3

0.2

        Investment Income - Operating

-

-

0.3

-

-

    Interest/Investment Income - Operating

-

-

0.3

-

-

Interest Expense (Income) - Net Operating Total

-

-

0.3

-

-

    Impairment-Assets Held for Use

-

-

12.9

-

-

    Loss (Gain) on Sale of Assets - Operating

-

-

0.0

-

-

Unusual Expense (Income)

-

-

12.9

-

-

    Other Operating Expense

-

-

0.0

-

-

    Other, Net

-

-

-0.4

-

-

Other Operating Expenses, Total

-

-

-0.3

-

-

Total Operating Expense

59.2

34.1

64.5

8.7

10.2

 

 

 

 

 

 

Operating Income

3.3

5.5

-10.3

-3.0

-0.8

 

 

 

 

 

 

        Interest Expense - Non-Operating

-0.1

-0.1

-0.9

-0.1

-0.1

    Interest Expense, Net Non-Operating

-0.1

-0.1

-0.9

-0.1

-0.1

        Interest Income - Non-Operating

0.2

0.1

0.1

0.1

0.2

        Investment Income - Non-Operating

-0.5

-0.1

-

-1.6

0.1

    Interest/Investment Income - Non-Operating

-0.3

0.0

0.1

-1.5

0.4

    Interest Income (Expense) - Net Non-Operating

-

-

0.0

-

-

Interest Income (Expense) - Net Non-Operating Total

-0.5

-0.1

-0.9

-1.6

0.3

Gain (Loss) on Sale of Assets

1.3

-0.1

-

0.0

1.3

    Other Non-Operating Income (Expense)

0.1

0.0

-

0.0

0.0

Other, Net

0.1

0.0

-

0.0

0.0

Income Before Tax

4.3

5.4

-11.2

-4.6

0.7

 

 

 

 

 

 

Total Income Tax

-0.2

0.0

0.2

0.7

-0.5

Income After Tax

4.4

5.4

-11.4

-5.3

1.3

 

 

 

 

 

 

Net Income Before Extraord Items

4.4

5.4

-11.4

-5.3

1.3

    Discontinued Operations

-3.3

-1.3

-

-

-

Total Extraord Items

-3.3

-1.3

-

-

-

Net Income

1.2

4.1

-11.4

-5.3

1.3

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

4.4

5.4

-11.4

-5.3

1.3

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

1.2

4.1

-11.4

-5.3

1.3

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

6.0

6.0

5.0

1.9

1.9

Basic EPS Excl Extraord Items

0.74

0.90

-2.29

-2.80

0.68

Basic/Primary EPS Incl Extraord Items

0.19

0.68

-2.29

-2.80

0.68

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

1.2

4.1

-11.4

-5.3

1.3

Diluted Weighted Average Shares

6.0

6.0

5.0

1.9

2.4

Diluted EPS Excl Extraord Items

0.74

0.90

-2.29

-2.80

0.55

Diluted EPS Incl Extraord Items

0.19

0.68

-2.29

-2.80

0.55

Dividends per Share - Common Stock Primary Issue

-

0.00

0.00

0.00

0.00

Gross Dividends - Common Stock

0.0

0.0

0.0

0.0

0.0

Interest Expense, Supplemental

0.1

0.1

0.9

0.1

0.1

Depreciation, Supplemental

0.4

0.5

0.4

0.6

0.3

Total Special Items

-1.3

0.1

12.9

0.0

-1.3

Normalized Income Before Tax

2.9

5.4

1.7

-4.6

-0.5

 

 

 

 

 

 

Effect of Special Items on Income Taxes

-0.5

0.0

4.5

0.0

-0.4

Inc Tax Ex Impact of Sp Items

-0.7

0.0

4.7

0.7

-1.0

Normalized Income After Tax

3.6

5.4

-3.0

-5.3

0.5

 

 

 

 

 

 

Normalized Inc. Avail to Com.

3.6

5.4

-3.0

-5.3

0.5

 

 

 

 

 

 

Basic Normalized EPS

0.59

0.91

-0.61

-2.80

0.24

Diluted Normalized EPS

0.59

0.91

-0.61

-2.80

0.20

Amort of Intangibles, Supplemental

0.4

0.3

0.3

0.3

0.3

Rental Expenses

0.0

0.0

0.0

0.0

0.0

Advertising Expense, Supplemental

0.0

0.0

0.0

0.0

0.0

Research & Development Exp, Supplemental

1.2

1.3

2.7

1.3

0.1

Normalized EBIT

3.3

5.5

2.8

-3.0

-0.8

Normalized EBITDA

4.1

6.3

3.5

-2.2

-0.2

Interest Cost - Domestic

0.0

0.1

-

-

-

Service Cost - Domestic

0.2

0.9

-

-

-

Expected Return on Assets - Domestic

0.0

0.0

-

-

-

Domestic Pension Plan Expense

0.2

1.0

-

-

-

Total Pension Expense

0.2

1.0

-

-

-

Total Plan Interest Cost

0.0

0.1

-

-

-

Total Plan Service Cost

0.2

0.9

-

-

-

Total Plan Expected Return

0.0

0.0

-

-

-

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

UpdateType/Date

Updated Normal
31-Dec-2012

Updated Normal
31-Dec-2011

Restated Normal
31-Dec-2011

Updated Normal
31-Dec-2009

Updated Normal
31-Dec-2008

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1066.400024

1152

1134.9

1164.475

1259.55

Auditor

Sinjung Accounting Corporation

Sinjung Accounting Corporation

Sinjung Accounting Corporation

Ihnduck Accounting Corp.

Ihnduck Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified with Explanation

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

9.6

4.8

1.4

3.1

3.4

    Short Term Investments

0.6

0.3

0.9

0.6

0.2

Cash and Short Term Investments

10.2

5.1

2.3

3.7

3.5

        Accounts Receivable - Trade, Gross

2.8

12.0

8.8

2.1

2.5

        Provision for Doubtful Accounts

-0.1

-0.1

0.0

0.0

0.0

    Trade Accounts Receivable - Net

2.7

11.9

8.7

2.1

2.5

    Other Receivables

0.2

-

-

0.0

0.1

Total Receivables, Net

2.8

11.9

8.7

2.1

2.6

    Inventories - Finished Goods

0.1

0.1

0.2

-

0.0

    Inventories - Work In Progress

0.4

0.1

0.1

0.0

0.5

    Inventories - Raw Materials

0.6

0.1

0.2

0.1

0.3

    Inventories - Other

0.0

0.0

-

-

-

Total Inventory

1.1

0.4

0.5

0.1

0.8

Prepaid Expenses

0.9

0.8

1.4

0.1

0.1

    Deferred Income Tax - Current Asset

-

-

-

-

0.0

    Other Current Assets

0.0

0.5

0.5

-

-

Other Current Assets, Total

0.0

0.5

0.5

-

0.0

Total Current Assets

15.1

18.7

13.5

6.0

7.0

 

 

 

 

 

 

        Buildings

4.9

6.5

6.7

5.1

4.7

        Land/Improvements

3.7

6.3

6.6

2.8

2.7

        Machinery/Equipment

1.3

1.4

1.4

1.6

1.5

        Other Property/Plant/Equipment

0.5

0.7

0.6

0.9

0.9

    Property/Plant/Equipment - Gross

10.4

14.9

15.2

10.4

9.9

    Accumulated Depreciation

-1.1

-1.3

-0.8

-1.5

-1.0

Property/Plant/Equipment - Net

9.4

13.6

14.4

8.9

8.8

Intangibles, Net

1.1

2.4

2.4

0.9

2.0

    LT Investment - Affiliate Companies

-

-

-

-

0.2

    LT Investments - Other

0.2

2.1

1.7

0.0

0.0

Long Term Investments

0.2

2.1

1.7

0.0

0.2

Note Receivable - Long Term

-

-

-

0.2

0.2

    Deferred Income Tax - Long Term Asset

0.5

-

-

-

0.7

    Discontinued Operations - Long Term Asset

0.5

-

-

-

-

    Other Long Term Assets

0.8

0.2

0.2

0.0

0.0

Other Long Term Assets, Total

1.7

0.2

0.2

0.0

0.7

Total Assets

27.5

37.0

32.2

16.0

18.9

 

 

 

 

 

 

Accounts Payable

1.1

3.7

3.7

2.5

1.6

Accrued Expenses

-

-

-

0.2

0.2

Notes Payable/Short Term Debt

3.3

11.4

8.9

0.0

0.0

Current Portion - Long Term Debt/Capital Leases

-

-

-

0.2

0.1

    Customer Advances

0.0

0.4

1.3

-

-

    Other Payables

-

-

-

0.1

0.2

    Other Current Liabilities

3.1

2.8

2.4

0.6

0.2

Other Current liabilities, Total

3.1

3.2

3.7

0.7

0.4

Total Current Liabilities

7.5

18.3

16.3

3.5

2.3

 

 

 

 

 

 

    Long Term Debt

0.6

1.4

2.0

1.4

1.4

Total Long Term Debt

0.6

1.4

2.0

1.4

1.4

Total Debt

3.8

12.8

10.9

1.5

1.5

 

 

 

 

 

 

    Pension Benefits - Underfunded

0.3

1.5

2.4

0.4

0.3

    Other Long Term Liabilities

0.4

0.5

0.4

-

-

Other Liabilities, Total

0.6

2.0

2.7

0.4

0.3

Total Liabilities

8.7

21.7

21.0

5.2

4.0

 

 

 

 

 

 

    Common Stock

2.9

2.7

2.7

2.6

2.3

Common Stock

2.9

2.7

2.7

2.6

2.3

Additional Paid-In Capital

12.1

11.2

24.6

4.8

4.1

Retained Earnings (Accumulated Deficit)

7.0

4.1

-4.0

3.4

8.5

Treasury Stock - Common

-2.2

-4.0

-4.0

-

-

Unrealized Gain (Loss)

0.0

1.2

0.9

-

0.0

    Other Equity

-1.1

0.0

-9.0

0.0

0.0

    Other Comprehensive Income

-

0.0

0.0

-

-

Other Equity, Total

-1.1

0.0

-9.0

0.0

0.0

Total Equity

18.8

15.3

11.2

10.8

14.9

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

27.5

37.0

32.2

16.0

18.9

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

6.1

6.0

5.3

2.0

1.9

Total Common Shares Outstanding

6.1

6.0

5.3

2.0

1.9

Treasury Shares - Common Stock Primary Issue

0.1

0.2

0.9

0.0

0.0

Employees

130

181

218

72

72

Number of Common Shareholders

-

-

853

1,038

776

Accumulated Intangible Amort, Suppl.

-

-

-

3.3

2.9

Deferred Revenue - Current

0.0

0.4

1.3

-

-

Total Long Term Debt, Supplemental

-

-

-

1.5

1.5

Long Term Debt Maturing within 1 Year

-

-

-

0.2

0.1

Long Term Debt Maturing in Year 2

-

-

-

0.2

0.1

Long Term Debt Maturing in Year 3

-

-

-

0.3

0.2

Long Term Debt Maturing in Year 4

-

-

-

0.3

0.5

Long Term Debt Maturing in Year 5

-

-

-

0.2

0.5

Long Term Debt Maturing in 2-3 Years

-

-

-

0.6

0.4

Long Term Debt Maturing in 4-5 Years

-

-

-

0.5

1.1

Long Term Debt Matur. in Year 6 & Beyond

-

-

-

0.3

0.0

Pension Obligation - Domestic

0.4

0.5

-

-

-

Plan Assets - Domestic

0.4

0.5

-

-

-

Funded Status - Domestic

0.0

0.0

-

-

-

Unfunded Plan Obligations

0.3

1.5

-

-

-

Total Funded Status

-0.3

-1.5

-

-

-

Discount Rate - Domestic

0.00%

5.02%

-

-

-

Expected Rate of Return - Domestic

4.62%

4.05%

-

-

-

Compensation Rate - Domestic

0.00%

5.02%

-

-

-

Total Plan Obligations

0.7

2.0

-

-

-

Total Plan Assets

0.4

0.5

-

-

-

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2012

Reclassified Normal
31-Dec-2012

Restated Normal
31-Dec-2011

Updated Normal
31-Dec-2009

Updated Normal
31-Dec-2008

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1126.848795

1107.891393

1156.281981

1276.385219

1100.562842

Auditor

Sinjung Accounting Corporation

Sinjung Accounting Corporation

Sinjung Accounting Corporation

Ihnduck Accounting Corp.

Ihnduck Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified with Explanation

Unqualified

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

4.3

5.4

-11.2

-5.3

1.3

    Depreciation

0.4

0.5

0.4

0.6

0.3

Depreciation/Depletion

0.4

0.5

0.4

0.6

0.3

    Amortization of Intangibles

0.4

0.3

0.3

0.3

0.3

Amortization

0.4

0.3

0.3

0.3

0.3

Deferred Taxes

-

-

-

0.7

-0.6

    Discontinued Operations

-1.3

0.0

-

-

-

    Unusual Items

0.6

0.0

12.2

1.4

-1.0

    Equity in Net Earnings (Loss)

-

-

-

-

0.0

    Other Non-Cash Items

-2.8

-0.6

1.3

0.2

0.7

Non-Cash Items

-3.6

-0.6

13.6

1.5

-0.4

    Accounts Receivable

4.7

-3.4

-0.3

0.6

2.9

    Inventories

-0.8

0.1

0.0

0.7

-0.4

    Prepaid Expenses

0.6

0.6

-1.4

0.0

0.2

    Other Assets

-2.0

0.5

5.1

-

-

    Accounts Payable

-1.1

0.0

-1.8

0.6

-1.2

    Accrued Expenses

-

-

-

-0.1

0.0

    Other Liabilities

1.9

-0.6

2.0

0.2

-0.4

    Other Operating Cash Flow

-0.6

-0.8

-0.9

-

-

Changes in Working Capital

2.7

-3.6

2.7

2.1

1.1

Cash from Operating Activities

4.2

2.0

5.7

-0.2

2.0

 

 

 

 

 

 

    Purchase of Fixed Assets

-0.4

-0.2

-0.3

-0.2

-8.3

    Purchase/Acquisition of Intangibles

-0.2

-0.3

-0.6

-0.4

-0.9

    Software Development Costs

-

-

-

0.0

-

Capital Expenditures

-0.6

-0.5

-0.8

-0.6

-9.2

    Sale of Fixed Assets

0.0

0.0

0.0

0.0

3.6

    Sale/Maturity of Investment

2.7

-

0.0

1.7

20.4

    Investment, Net

-

0.0

-

-

-

    Purchase of Investments

-

-

0.0

-2.0

-11.5

    Other Investing Cash Flow

-

-

-

0.0

-0.1

Other Investing Cash Flow Items, Total

2.7

0.0

0.0

-0.3

12.4

Cash from Investing Activities

2.1

-0.5

-0.8

-0.9

3.2

 

 

 

 

 

 

    Other Financing Cash Flow

-

-

4.5

-

-

Financing Cash Flow Items

-

-

4.5

-

-

Total Cash Dividends Paid

-

-

-

-

-0.3

        Sale/Issuance of Common

0.7

-

2.7

0.5

-

        Repurchase/Retirement of Common

-

-

-15.4

-

-

    Common Stock, Net

0.7

-

-12.8

0.5

-

Issuance (Retirement) of Stock, Net

0.7

-

-12.8

0.5

-

        Short Term Debt Issued

-

3.6

-

-

-

    Short Term Debt, Net

-

3.6

-

-

-

        Long Term Debt Issued

-

-

-

-

1.5

        Long Term Debt Reduction

-

-

-

-0.1

-3.0

    Long Term Debt, Net

-

-

-

-0.1

-1.4

    Total Debt Issued

0.0

-

8.4

-

-

    Total Debt Reduction

-2.8

-1.5

-4.5

-

-

Issuance (Retirement) of Debt, Net

-2.8

2.1

4.0

-0.1

-1.4

Cash from Financing Activities

-2.1

2.1

-4.3

0.4

-1.7

 

 

 

 

 

 

Net Change in Cash

4.2

3.5

0.5

-0.7

3.5

 

 

 

 

 

 

Net Cash - Beginning Balance

4.9

1.5

0.9

3.5

0.5

Net Cash - Ending Balance

9.1

5.0

1.4

2.8

4.1

Cash Interest Paid

0.4

0.8

0.9

-

-

 

 

Annual Income Statement

 

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2012

Restated Normal
31-Dec-2012

Restated Normal
31-Dec-2011

Updated Normal
31-Dec-2009

Updated Normal
31-Dec-2008

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1126.848795

1107.891393

1156.281981

1276.385219

1100.562842

Auditor

Sinjung Accounting Corporation

Sinjung Accounting Corporation

Sinjung Accounting Corporation

Ihnduck Accounting Corp.

Ihnduck Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Sales Revenue

-

-

-

5.7

9.4

    Net Sales

62.4

39.6

54.1

-

-

Total Revenue

62.4

39.6

54.1

5.7

9.4

 

 

 

 

 

 

    Costs of Goods & Services Sold

54.2

29.5

43.3

-

-

    Cost of Finished Goods Sold

-

-

-

5.2

7.7

    Salaries & Wages

1.4

1.0

1.7

0.6

0.7

    Retirement & Severance Benefits

0.1

0.1

0.3

0.0

0.0

    Employee Benefits

0.3

0.2

0.4

0.1

0.1

    Other Selling & Administrative Expense

0.0

0.0

-

-

-

    Other Distribution Expense

0.0

0.0

-

-

-

    Communication Expense

0.0

0.0

-

-

-

    Commission Paid

0.6

0.4

-

-

-

    Exporting Expense

0.3

0.6

-

-

-

    Travel Expense

0.1

0.1

0.1

0.0

0.1

    Communication Expense

-

-

0.0

0.0

0.0

    Utility Expense

0.1

0.1

0.1

0.0

0.0

    Taxes & Dues

0.1

0.0

0.1

0.0

0.0

    Consumable Expense

0.1

0.1

0.2

0.0

0.0

    Publication Expense

0.0

0.0

0.1

0.0

0.0

    Office Supplies Expense

-

-

0.0

0.0

0.0

    Rental Expense

0.0

0.0

0.0

0.0

0.0

    Vehicle Maintenance Expense

0.1

0.1

0.1

0.0

0.1

    Repair Expense

0.0

0.2

0.0

0.0

0.0

    Insurance Premiums

0.0

0.0

0.1

0.0

0.0

    Commissions

-

-

0.9

0.3

0.5

    Shipping & Handling Expense

0.1

0.1

0.1

0.0

0.0

    Packaging Expense

0.0

0.0

0.0

0.0

0.0

    Entertainment Expense

0.1

0.1

0.5

0.0

0.1

    Advertising Expense

0.0

0.0

0.0

0.0

0.0

    Education & Training Expense

0.0

0.0

0.0

0.0

0.0

    Expense of Allow. for DA

0.1

0.1

0.2

-

0.0

    Association Due

0.0

0.0

0.0

0.0

0.0

    R & D Expense

1.2

1.3

2.7

1.3

0.1

    Electricity Expense

-

-

0.0

-

-

    Overseas Market Development Cost

-

-

0.2

-

-

    Sample Expense

-

-

0.0

-

-

    Depreciation in SGA

0.0

0.1

0.2

0.2

0.1

    Amort. of Intangibless

0.0

0.1

0.3

0.1

0.1

    Warranty Exp. of Construction Contracts

-

-

-

0.7

0.4

    Adj. for Other Selling & Admin. Expense

-

-

0.0

-

-

    Rental Income

-

-

-0.1

-

-

    Reversal of Allow. for DA

-

-

-0.1

-

-

    Gain on Disposal of PPE

-

-

0.0

-

-

    Adj. for Other Operating Income

-

-

0.0

-

-

    Gain on Foreign Currency Transaction

-

-

-0.2

-

-

    Gain on Valt of Fincl Instrm at FVTPL

-

-

0.0

-

-

    Gain-Disposal of Fincl Instrm at FVTPL

-

-

-0.1

-

-

    Miscellaneous Income

-

-

-0.2

-

-

    Loss on Foreign Currency Transaction

-

-

0.1

-

-

    Loss on Foreign Currency Translation

-

-

0.0

-

-

    Donations Paid

-

-

0.0

-

-

    Loss-Disposal of FA Avail. for Sale

-

-

0.0

-

-

    Loss on Call Redemption of Debentures

-

-

0.4

-

-

    Miscellaneous Loss

-

-

0.0

-

-

    Adjustment for Net Operating Income or L

-

-

0.0

-

-

    Impmt Loss on Inventory

-

-

0.7

-

-

    Loss on Disposal of PPE

-

-

0.0

-

-

    Impmt Loss on Goodwill

-

-

12.2

-

-

    Adj. for Other Operating Expense

-

-

-

-

-

Total Operating Expense

59.2

34.1

64.5

8.7

10.2

 

 

 

 

 

 

    Interest Income

0.2

0.1

0.1

0.1

0.2

    Gain on Valt of Inventory

-

0.0

-

-

-

    Miscellaneous Income

0.1

0.0

-

-

-

    Donations Paid

0.0

-

-

-

-

    Miscellaneous Loss

0.0

0.0

-

-

-

    other other np net incom/loss

0.0

0.0

-

-

-

    Other Other Non-Operating Expense

-

0.0

-

-

-

    Gain on Foreign Currency Transaction,OE

0.0

0.1

-

-

-

    Gain on Foreign Currency Translation,OE

0.0

0.0

-

-

-

    Loss on Foreign Currency Translation,OE

-0.1

0.0

-

-

-

    Loss on Foreign Currency Transaction,OE

-0.5

-0.2

-

-

-

    Gain-Foreign Exchange Transaction

-

-

-

0.2

0.8

    Gain-Foreign Currency Translation

-

-

-

0.0

0.0

    Gains on Sale of Available for Sale Secu

-

-

-

0.0

-

    Gain on Disposal of PPE

-

0.0

-

-

-

    Loss on Disposal of Inventory

-

-0.1

-

-

-

    Lose on Disposal of Assets Held for Sale

1.3

0.0

-

-

-

    Gain-Disposal of inventory

-

-

-

0.0

-

    Gain-Disposal of Tangible Assets

-

-

-

0.0

1.6

    Reversal of Allow. for DA

-

-

-

0.0

-

    Miscellaneous Income

-

-

-

0.0

0.0

    Interest Expense

-0.1

-0.1

-0.9

-0.1

-0.1

    Loss-Redemption of Debentures

-

-

-

-

-0.4

    Loss-Foreign Exchange Transaction

-

-

-

-0.1

0.0

    Loss-Reduction of Tangible Assets

-

-

-

-

-0.1

    Loss-Reduction of Intangible Assets(1)

-

-

-

-1.2

-0.1

    Loss-Disposal of inventory

-

-

-

-

0.0

    Loss-Foreign Currency Translation

-

-

-

0.0

-0.1

    Loss-Reduction in inventory

-

-

-

-0.4

0.0

    Loss-Reduction of Investment Assets

-

-

-

0.0

-

    Loss-Disposal of Investment Stocks

-

-

-

-0.1

-

    Loss-Disposal of Tangible Assets

-

-

-

0.0

-0.3

    Miscellaneous Losses

-

-

-

0.0

0.0

    Losses on Valuation of Equity Method Sec

-

-

-

0.0

-

    Gain under Equity Method

-

-

-

-

0.0

    Adj. for Finance Income

-

-

0.0

-

-

Net Income Before Taxes

4.3

5.4

-11.2

-4.6

0.7

 

 

 

 

 

 

Prov. for Income Taxes

-0.2

0.0

0.2

0.7

-0.5

Net Income After Taxes

4.4

5.4

-11.4

-5.3

1.3

 

 

 

 

 

 

Net Income Before Extra. Items

4.4

5.4

-11.4

-5.3

1.3

    Gain/Loss on Discontinued Operations

-3.3

-1.3

-

-

-

Net Income

1.2

4.1

-11.4

-5.3

1.3

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

4.4

5.4

-11.4

-5.3

1.3

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

1.2

4.1

-11.4

-5.3

1.3

 

 

 

 

 

 

Basic Weighted Average Shares

6.0

6.0

5.0

1.9

1.9

Basic EPS Excluding ExtraOrdinary Items

0.74

0.90

-2.29

-2.80

0.68

Basic EPS Including ExtraOrdinary Items

0.19

0.68

-2.29

-2.80

0.68

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

1.2

4.1

-11.4

-5.3

1.3

Diluted Weighted Average Shares

6.0

6.0

5.0

1.9

2.4

Diluted EPS Excluding ExtraOrd Items

0.74

0.90

-2.29

-2.80

0.55

Diluted EPS Including ExtraOrd Items

0.19

0.68

-2.29

-2.80

0.55

DPS-Ordinary Shares

-

0.00

0.00

0.00

0.00

Gross Dividends - Common Stock

0.0

0.0

0.0

0.0

0.0

Normalized Income Before Taxes

2.9

5.4

1.7

-4.6

-0.5

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

-0.7

0.0

4.7

0.7

-1.0

Normalized Income After Taxes

3.6

5.4

-3.0

-5.3

0.5

 

 

 

 

 

 

Normalized Inc. Avail to Com.

3.6

5.4

-3.0

-5.3

0.5

 

 

 

 

 

 

Basic Normalized EPS

0.59

0.91

-0.61

-2.80

0.24

Diluted Normalized EPS

0.59

0.91

-0.61

-2.80

0.20

Interest Expense

0.1

0.1

-

-

-

Interest Expense, Supplemental

-

-

0.9

0.1

0.1

Rental Expense, Supplemental

0.0

0.0

0.0

0.0

0.0

Advertising Expense, Supplemental

0.0

0.0

0.0

0.0

0.0

R&D Expense, Supplemental

1.2

1.3

2.7

1.3

0.1

BC - Depreciation of Fixed Assets

0.4

0.5

-

-

-

Depreciation, Supplemental

-

-

0.4

0.6

0.3

BC - Depreciation of Intangible Assets

0.4

0.3

-

-

-

Amort of Intangibles, Supplemental

-

-

0.3

0.3

0.3

Expected Return on Assets

0.0

0.0

-

-

-

Interest Cost

0.0

0.1

-

-

-

Service Cost

0.2

0.9

-

-

-

Domestic Pension Plan Expense

0.2

1.0

-

-

-

Total Pension Expense

0.2

1.0

-

-

-

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

UpdateType/Date

Updated Normal
31-Dec-2012

Updated Normal
31-Dec-2011

Restated Normal
31-Dec-2011

Updated Normal
31-Dec-2009

Updated Normal
31-Dec-2008

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1066.400024

1152

1134.9

1164.475

1259.55

Auditor

Sinjung Accounting Corporation

Sinjung Accounting Corporation

Sinjung Accounting Corporation

Ihnduck Accounting Corp.

Ihnduck Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Cash Equivalents

9.6

4.8

1.4

3.1

3.4

    Other Fincl Instrm(1)

0.6

-

-

0.6

0.2

    Other Fincl Instrm(1)

-

0.1

0.4

-

-

    Fincl Assets at FVTPL

0.0

0.2

0.5

-

-

    Government Subsidy

0.0

-

-

-

-

    Trade Receivable, Gross

2.8

12.0

8.8

2.1

2.5

    Current Tax Assets

0.0

0.0

0.0

-

-

    Prepaid Expense from Constructions

0.2

0.8

1.4

-

-

    Current Tax Assets

-

-

-

0.0

0.0

    Other Other Current Assets

-

-

-

-

-

    Allow. for DA for Trade Receivable

-0.1

-0.1

0.0

0.0

0.0

    Account Receivable

0.1

-

-

0.0

0.1

    Prepaid Expense

0.0

-

-

0.0

0.0

    Advance Payments

0.7

-

-

0.1

0.0

    Other Current Assets

-

0.5

0.5

-

-

    Deferred Income Taxes-Debit, Current

-

-

-

-

0.0

    Accrued Income

0.0

-

-

0.0

0.0

    Merchandises

-

-

-

-

0.0

    Finished Goods

0.1

0.1

0.2

-

-

    Semi-finished Goods

0.0

0.1

0.1

-

-

    Raw Materials

0.6

0.4

0.5

0.3

0.3

    Allow. for Loss on Valt of Raw Materials

0.0

-0.3

-0.3

-0.3

-

    Supplemental Raw Materials

-

-

-

0.0

0.0

    Works in Progress

0.4

0.1

0.0

0.0

0.5

    Trade Receivable, Net - Balancing value

0.0

0.0

-

-

-

    Inventories - Balancing value

0.0

0.0

-

-

-

Total Current Assets

15.1

18.7

13.5

6.0

7.0

 

 

 

 

 

 

    Invmt in Properties

0.0

1.8

1.5

-

-

    LT Financial Assets

-

-

-

0.0

0.0

    LT Loan

-

-

-

0.2

0.2

    Securities Available for Sale

0.0

0.1

0.1

-

0.0

    Equity Method Investment Securities

-

-

-

-

0.2

    Guarantee Deposits, Non-Current Assets

0.8

-

-

0.0

0.0

    Non-Current Deferred Income Taxes Assets

0.5

-

-

-

-

    Deferred Income Tax-Debit

-

-

-

-

0.7

    Lands

3.9

6.5

6.8

3.0

2.7

    Lands-Government Subsidy

-0.2

-0.2

-0.2

-0.2

-

    Buildings

4.8

6.4

6.7

5.1

4.7

    Buildings-Depreciation

-0.3

-0.4

-0.3

-0.2

0.0

    Tools & Equipments

0.4

0.2

0.1

0.2

0.1

    Tools & Equipments-Depreciation

-0.1

-0.1

0.0

-0.1

-0.1

    Tools & Equipments-Government Subsidy

-0.1

-0.1

-0.1

-0.1

-

    Structures

0.0

0.0

0.0

-

-

    Structures-Depreciation

0.0

0.0

0.0

-

-

    Machineries & Equipments

0.0

0.2

0.2

-

0.0

    Machineries & Equipments-Depreciation

0.0

-0.2

-0.2

-

-

    Vehicles

0.1

0.2

0.2

0.1

0.0

    Vehicles-Depreciation

0.0

-0.1

0.0

0.0

0.0

    Test Equipments

0.0

0.0

0.0

-

-

    Test Equipments-Depreciation

0.0

0.0

0.0

-

-

    Moldings

0.0

0.0

0.0

0.1

0.2

    Moldings-Depreciation

0.0

0.0

0.0

-0.1

-0.2

    Fixtures

0.5

0.7

0.6

0.9

0.9

    Fixtures-Depreciation

-0.2

-0.3

-0.2

-0.7

-0.6

    Installation Equipments

1.0

0.8

0.9

1.3

1.2

    Installation Equipments-Depreciation

-0.3

-0.2

-0.1

-0.4

-0.1

    Research Facilities

-

-

-

0.1

0.1

    Research Facilities-Depreciation

-

-

-

-0.1

0.0

    Membership Rights

0.7

0.7

0.7

0.6

0.3

    Usage Right-Electricity & Gas

-

-

-

0.0

0.0

    Usage Right-Water

-

-

-

0.1

0.1

    Industrial Property Rights

0.2

0.1

0.1

0.1

0.1

    Software

0.2

0.2

0.2

0.1

0.1

    Facilities Usage Rights

0.1

0.1

0.1

-

-

    Government Subsidy for Industrial Proper

-

-

-

0.0

-

    Development Costs

0.0

1.3

1.4

-

1.4

    Other Non-Current Fincl Instrm

0.2

0.2

0.2

-

-

    Other Non-Current Assets

-

0.2

0.2

-

-

    Other Property, Plant & Equipment, Net

0.0

0.0

0.0

-

-

    Other Other Intangibless, Net

0.0

-

0.0

-

-

    LT Assets of Discontinued Operations

0.5

-

-

-

-

Total Assets

27.5

37.0

32.2

16.0

18.9

 

 

 

 

 

 

    Current Trade Payable

1.1

3.7

3.7

2.5

1.6

    Other Payable

-

-

-

0.1

0.2

    Accrued Expense

-

-

-

0.2

0.2

    Advance from Customers, Current

0.0

0.4

1.3

-

-

    Withheld

-

-

-

0.1

0.1

    Current Borrowings

3.3

11.4

8.9

-

-

    Current Portion of Long-Term Borrowings

-

-

-

0.2

0.1

    Provision for Other Estimated Liabilitie

1.4

0.9

0.8

-

-

    Prov. for Other Estimated Liability

-

-

-

0.5

0.2

    Current Flunk Break Liabilities

0.1

0.0

0.0

-

-

    Other Current Liabilities

1.6

1.9

1.6

-

-

Total Current Liabilities

7.5

18.3

16.3

3.5

2.3

 

 

 

 

 

 

    Non-Current Borrowings

0.6

1.4

2.0

1.4

1.4

Total Long Term Debt

0.6

1.4

2.0

1.4

1.4

 

 

 

 

 

 

    Retirement & Severance Benefits, Non-Cur

0.3

1.5

2.4

-

-

    Provisions for Retirement and Severance

-

-

-

1.2

0.3

    Deposits for Retirement and Severance Be

-

-

-

-0.8

-

    Transfer to National Pension Fund

-

-

-

0.0

-

    Other Non-Current Liabilities

0.4

0.5

0.4

-

-

Total Liabilities

8.7

21.7

21.0

5.2

4.0

 

 

 

 

 

 

    Common Stock

2.9

2.7

2.7

2.6

2.3

    Legal Reserve

-

-

-

0.0

0.0

    Consideration for Stock Warrants

0.4

0.4

0.4

0.3

0.4

    Gain on Disposal of Treasury Stock

-

-

-

0.0

0.0

    Losses on Disposal of Treasury Stock

-1.1

-

-9.0

-

-

    Additional Paid in Capital

11.7

10.8

24.2

4.5

3.7

    Treasury Stock

-2.2

-4.0

-4.0

-

-

    Reserve-Research & Development

-

-

-

-

0.1

    Retained Earnings

7.0

4.1

-4.0

-

-

    Reserve for Business Rationalization

-

-

-

0.1

0.1

    Unappropriated Retained Earnings

-

-

-

3.3

8.3

    Gain-Valu. of Sec. Available for Sale

-

-

-

-

0.0

    Gains on ReValt of Assets

0.0

1.2

1.3

-

-

    Actuarial Gains & Losses

-

0.0

-0.4

-

-

    Other Capital Items - Balancing value

0.0

0.0

0.0

-

-

    Adj.-Accum. Other Comprehensive Income

-

0.0

0.0

-

-

Total Equity

18.8

15.3

11.2

10.8

14.9

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

27.5

37.0

32.2

16.0

18.9

 

 

 

 

 

 

    S/O-Ordinary Shares

6.1

6.0

5.3

2.0

1.9

Total Common Shares Outstanding

6.1

6.0

5.3

2.0

1.9

T/S-Ordinary Shares

0.1

0.2

0.9

0.0

0.0

Deferred Revenue, Current

0.0

0.4

1.3

-

-

Accumulate Intangible Amort.

-

-

-

3.3

2.9

Full-Time Employees

130

181

218

72

72

Number of Common Shareholders

-

-

853

1,038

776

Long Term Debt Maturing within 1 Year

-

-

-

0.2

0.1

Long Term Debt Maturing in Year 2

-

-

-

0.2

0.1

Long Term Debt Maturing in Year 3

-

-

-

0.3

0.2

Long Term Debt Maturing in Year 4

-

-

-

0.3

-

Long Term Debt Maturing in Year 5

-

-

-

0.2

1.1

Long Term Debt Remaining Maturing

-

-

-

0.3

-

Total Long Term Debt, Supplemental

-

-

-

1.5

1.5

Fair Value of Plan Assets

0.4

0.5

-

-

-

Projected Benefit Obligation

0.4

0.5

-

-

-

Funded Status

0.0

0.0

-

-

-

Unfunded Plan Obligations

0.3

1.5

-

-

-

Total Funded Status

-0.3

-1.5

-

-

-

Discount Rate - Period End

0.00%

5.02%

-

-

-

Expected Rate of Return - Period End

4.62%

4.05%

-

-

-

Compensation Increase Rate - Period End

0.00%

5.02%

-

-

-

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2012

Reclassified Normal
31-Dec-2012

Restated Normal
31-Dec-2011

Updated Normal
31-Dec-2009

Updated Normal
31-Dec-2008

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1126.848795

1107.891393

1156.281981

1276.385219

1100.562842

Auditor

Sinjung Accounting Corporation

Sinjung Accounting Corporation

Sinjung Accounting Corporation

Ihnduck Accounting Corp.

Ihnduck Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income or Loss

4.3

5.4

-11.2

-5.3

1.3

    Depreciation

0.4

0.5

0.4

0.6

0.3

    Loss on Sale of Current Group Assets Hel

-1.3

0.0

-

-

-

    Amort. of Intangibless

0.4

0.3

0.3

0.3

0.3

    Expense of Allow. for DA

-

-

-

-

0.0

    Adj. for Gain/Loss on Discontinued Opera

-3.3

-1.4

-

-

-

    Retirement and Severance Benefits

-

-

-

0.2

0.3

    Finance Cost

0.4

0.8

0.9

-

-

    Interest and Dividend Income from Financ

0.0

0.0

-

-

-

    Losses on Foreign Currency Translation

-

-

-

-

0.0

    Loss on Call Redemption of Debentures

-

-

0.4

-

0.4

    Defect Repair Expense

-

-

-

-

0.0

    Impmt Loss on Tangibles

0.6

0.0

-

-

-

    Loss-Valuation of Investment Assets

-

-

-

0.0

-

    Losses on Disposal of Investment Assets

0.0

0.0

0.0

-

-

    Loss-Reduction of Tangible Assets

-

-

-

-

0.1

    Impmt Loss on Intangibless

-

-

12.2

1.2

0.1

    Loss on Disposal of Property, Plant and

0.0

0.0

0.0

0.0

0.3

    Losses on Sale of Equity Method Securiti

-

-

-

0.1

-

    Recovery of Provision Doubtful Accounts

-

-

-

0.0

-

    Gain on Disposal of Property, Plant and

-

-

0.0

0.0

-1.6

    Gains on Sale of Available for Sale Secu

-

-

-

0.0

-

    Gain under Equity Method

-

-

-

-

0.0

    Gains on Foreign Currency Translation

-

-

-

0.0

0.0

    Trade Receivables

4.7

-3.4

-0.3

0.5

2.8

    Accounts Receivable

-

-

-

0.1

-0.1

    Prepaid Expense

-

-

-

0.0

0.0

    Prepaid Construction Expense

0.7

0.6

-1.4

-

-

    Current Tax Assets

0.0

0.0

0.0

0.0

0.2

    Fincl Assets at FVTPL

-0.3

0.3

-0.5

-

-

    Other Fincl Assets

-0.6

0.2

0.4

-

-

    Other Assets

-1.1

-0.1

5.2

-

-

    Advanced Payments

-

-

-

0.0

0.0

    Accrued Income

-

-

-

0.0

0.1

    Inventory

-0.8

0.1

0.0

0.7

-0.4

    Deferred Income Tax Debits

-

-

-

0.7

-0.6

    Deferred Income Tax Debit, Current

-

-

-

0.0

0.0

    Trade Payable

-1.1

0.0

-1.8

0.7

-1.2

    Accounts Payable

-

-

-

-0.1

-0.1

    Advance from Customers

0.9

-0.8

1.1

-

0.0

    Deposits Withheld

-

-

-

0.1

0.0

    Current Paid Vacation

0.1

0.0

0.0

-

-

    Other Prov.s

0.6

0.1

0.1

-

-

    Other Liabilities

0.1

0.5

0.5

-

-

    Accrued Expenses

-

-

-

-0.1

0.0

    Deferred Income Tax Credit, Current, A/L

-

-

-

-

0.0

    Prov. for Retirement Allow.

0.2

-0.4

0.3

-

-

    Retm&Sevr Benf Liability

-

-

-

-0.1

-0.2

    Decrease Increase Deposits for Retiremen

-

-

-

-0.1

-0.1

    Reserve-National Pension

-

-

-

-

0.0

    Reserve-Sales Guarantee

-

-

-

0.3

-

    Other Balancing value For Operating Acti

-

0.0

-

-

-

    Cash Outflow from Business Spin Off

-0.1

-

-

-

-

    Cash-Interest Paid

-0.4

-0.8

-0.9

-

-

    Adj. for Cash Flow from Operations

-

-

0.0

-

-

Cash From Operating Activities

4.2

2.0

5.7

-0.2

2.0

 

 

 

 

 

 

    Net Change of Sec. Available-for-Sale

-

0.0

-

-

-

    Decrease in Long-term Loans

-

-

-

0.0

-

    Proceeds from Sale of Available for sale

-

-

0.0

0.0

-

    Decrease-Guarantee Deposit

-

-

-

0.0

0.1

    Proceeds from Sale of Equity Method Secu

-

-

-

0.0

-

    Disposal-Land

-

-

-

-

2.1

    Disposal-Buildings

-

-

-

-

1.6

    Disposal-Tools & Supplies

-

-

-

-

0.0

    Proceeds from Sale of Machinery

-

-

-

0.0

-

    Disposal-Supplies

-

-

-

-

0.0

    Disposal of Property, Plant and Equipmen

0.0

0.0

0.0

-

-

    Decrease-ST Financial Assets

-

-

-

1.6

20.4

    Increase-LT Loans

-

-

-

0.0

-0.2

    Disposal of Assets Held for Sale

2.7

-

-

-

-

    Increase-ST Financial Assets

-

-

-

-2.0

-11.5

    Purchase of Sec. Available-for-Sale

-

-

0.0

-

-

    Purchase of Land

-

-

-

0.0

-0.1

    Purchase of Buildings

-

-

-

-

-0.3

    Acquisition-Tools and Supplies

-

-

-

0.0

0.0

    Purchase of Office Equipment

-

-

-

-0.1

-0.2

    Purchase of Vehicles

-

-

-

0.0

0.0

    Acquisition-Installation Equipments

-

-

-

-

-1.2

    Acquisition-Moldings

-

-

-

-

0.0

    Purchase of Construction in Progress

-

-

-

-

-6.6

    Purchase of Tangibles

-0.4

-0.2

-0.3

-

-

    Increase-Membership Right

-

-

-

-0.4

-

    Purchase of Industrial Property Rights

-

-

-

0.0

0.0

    Purchase of Development Costs

-

-

-

-

-0.8

    Purchase of Computer Software

-

-

-

0.0

-

    Purchase of Intangibless

-0.2

-0.3

-0.6

-

-

Cash From Investing Activities

2.1

-0.5

-0.8

-0.9

3.2

 

 

 

 

 

 

    Increse in Borrowings

0.0

-

8.4

-

-

    Borrowings

-

3.6

-

-

-

    Increase-LT Borrowings

-

-

-

-

1.5

    Dividends Paid

-

-

-

-

-0.3

    Capital Increase

-

-

-

0.5

-

    Decrease in Treasury Stocks

0.7

-

2.7

-

-

    Increase in Treasury Stocks

-

-

-15.4

-

-

    Decrease in Borrowings

-2.8

-1.5

-4.5

-

-

    Redemption-Bond with Warrant

-

-

-

-

-2.9

    Decrease-LT Borrowings

-

-

-

-0.1

-0.1

    Stocks Issuance Cost

-

-

0.0

-

-

    Increase or Decrease in Government Subsi

-

-

0.1

-

-

    Cash Inflow-Merger

-

-

4.4

-

-

Cash From Financing Activities

-2.1

2.1

-4.3

0.4

-1.7

 

 

 

 

 

 

Incs or Decs in Cash & Cash Equivalents

4.2

3.5

0.5

-0.7

3.5

 

 

 

 

 

 

Cash and Cash Equivalents at Beginning

4.9

1.5

0.9

3.5

0.5

Cash and Cash Equivalents at End

9.1

5.0

1.4

2.8

4.1

    Cash Interest Paid

0.4

0.8

0.9

-

-

 

 

 Financial Health

 

 

Key Indicators USD (mil)

 

Quarter
Ending
30-Jun-2013

Quarter
Ending
Yr Ago

Annual
Year End
31-Dec-2012

1 Year
Growth

3 Year
Growth

5 Year
Growth

Total Revenue1 (?)

9.7

-61.99%

62.4

60.39%

113.41%

21.86%

Research & Development1 (?)

0.3

-10.71%

1.2

-5.42%

-6.14%

119.90%

Operating Income1 (?)

1.2

-63.64%

3.3

-39.18%

-

1.70%

Income Available to Common Excl Extraord Items1 (?)

1.2

-64.79%

4.4

-15.76%

-

8.67%

Basic EPS Excl Extraord Items1 (?)

0.20

-64.79%

0.74

-16.62%

-

-13.88%

Capital Expenditures2 (?)

0.1

-69.41%

0.6

6.56%

-3.62%

-23.57%

Cash from Operating Activities2 (?)

-3.7

-

4.2

117.49%

-

13.13%

Free Cash Flow (?)

-3.6

-

3.9

159.55%

-

106.69%

Total Assets3 (?)

36.1

-14.39%

27.5

-31.24%

16.24%

2.97%

Total Liabilities3 (?)

17.9

-27.55%

8.7

-62.98%

14.91%

3.67%

Total Long Term Debt3 (?)

7.8

1,139.14%

0.6

-61.69%

-28.13%

-27.47%

Employees3 (?)

-

-

130

-28.18%

21.77%

12.86%

Total Common Shares Outstanding3 (?)

6.1

0.00%

6.1

2.03%

45.46%

26.42%

1-ExchangeRate: KRW to USD Average for Period

1122.022568

 

1126.848795

 

 

 

2-ExchangeRate: KRW to USD Average for Period

1103.219597

 

1126.848795

 

 

 

3-ExchangeRate: KRW to USD Period End Date

1147.202838

 

1066.400024

 

 

 

Key Ratios

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Profitability

Gross Margin (?)

13.22%

25.57%

20.09%

8.58%

18.15%

Operating Margin (?)

5.24%

13.82%

-19.03%

-53.74%

-8.66%

Pretax Margin (?)

6.83%

13.57%

-20.66%

-81.41%

7.92%

Net Profit Margin (?)

7.13%

13.57%

-21.02%

-93.29%

13.65%

Financial Strength

Current Ratio (?)

2.02

1.02

0.83

1.72

3.02

Long Term Debt/Equity (?)

0.03

0.09

0.18

0.13

0.10

Total Debt/Equity (?)

0.20

0.83

0.97

0.14

0.10

Management Effectiveness

Return on Assets (?)

13.94%

15.03%

-47.66%

-31.81%

5.76%

Return on Equity (?)

26.62%

39.24%

-104.15%

-43.20%

7.80%

Efficiency

Receivables Turnover (?)

8.41

3.71

10.09

2.51

2.09

Inventory Turnover (?)

75.23

61.86

142.60

11.99

10.82

Asset Turnover (?)

1.96

1.11

2.27

0.34

0.42

Market Valuation USD (mil)

Enterprise Value2 (?)

13.2

.

Price/Sales (TTM) (?)

0.47

Enterprise Value/Revenue (TTM) (?)

0.34

.

Price/Book (MRQ) (?)

0.97

Enterprise Value/EBITDA (TTM) (?)

3.01

.

Market Cap1 (?)

19.6

1-ExchangeRate: KRW to USD on 6-Dec-2013

1058.821622

 

 

 

2-ExchangeRate: KRW to USD on 30-Jun-2013

1147.202838

 

 

 

 

 

 Annual Ratios

 

 

 

 

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Financial Strength

Current Ratio (?)

2.02

1.02

0.83

1.72

3.02

Quick/Acid Test Ratio (?)

1.75

0.93

0.68

1.68

2.64

Working Capital1 (?)

7.6

0.4

-2.8

2.5

4.7

Long Term Debt/Equity (?)

0.03

0.09

0.18

0.13

0.10

Total Debt/Equity (?)

0.20

0.83

0.97

0.14

0.10

Long Term Debt/Total Capital (?)

0.02

0.05

0.09

0.11

0.09

Total Debt/Total Capital (?)

0.17

0.46

0.49

0.13

0.09

Payout Ratio (?)

-

0.00%

0.00%

0.00%

0.00%

Effective Tax Rate (?)

-4.34%

0.00%

-

-

-72.32%

Total Capital1 (?)

22.6

28.1

22.1

12.3

16.4

 

 

 

 

 

 

Efficiency

Asset Turnover (?)

1.96

1.11

2.27

0.34

0.42

Inventory Turnover (?)

75.23

61.86

142.60

11.99

10.82

Days In Inventory (?)

4.85

5.90

2.56

30.45

33.74

Receivables Turnover (?)

8.41

3.71

10.09

2.51

2.09

Days Receivables Outstanding (?)

43.39

98.37

36.17

145.29

174.56

Revenue/Employee2 (?)

507,456

210,354

253,051

86,330

114,363

Operating Income/Employee2 (?)

26,599

29,075

-48,162

-46,395

-9,902

EBITDA/Employee2 (?)

33,244

33,318

-45,185

-34,004

-2,184

 

 

 

 

 

 

Profitability

Gross Margin (?)

13.22%

25.57%

20.09%

8.58%

18.15%

Operating Margin (?)

5.24%

13.82%

-19.03%

-53.74%

-8.66%

EBITDA Margin (?)

6.55%

15.84%

-17.86%

-39.39%

-1.91%

EBIT Margin (?)

5.24%

13.82%

-19.03%

-53.74%

-8.66%

Pretax Margin (?)

6.83%

13.57%

-20.66%

-81.41%

7.92%

Net Profit Margin (?)

7.13%

13.57%

-21.02%

-93.29%

13.65%

R&D Expense/Revenue (?)

1.93%

3.28%

5.07%

22.72%

1.09%

COGS/Revenue (?)

86.78%

74.43%

79.91%

91.42%

81.85%

SG&A Expense/Revenue (?)

5.92%

7.99%

9.67%

34.66%

23.80%

 

 

 

 

 

 

Management Effectiveness

Return on Assets (?)

13.94%

15.03%

-47.66%

-31.81%

5.76%

Return on Equity (?)

26.62%

39.24%

-104.15%

-43.20%

7.80%

 

 

 

 

 

 

Valuation

Free Cash Flow/Share2 (?)

0.63

0.23

0.93

-0.42

-3.34

Operating Cash Flow/Share 2 (?)

0.73

0.32

1.09

-0.11

0.92

1-ExchangeRate: KRW to USD Period End Date

1066.400024

1152

1134.9

1164.475

1259.55

2-ExchangeRate: KRW to USD Average for Period

1066.400024

1152

1134.9

1164.475

1259.55

 

Current Market Multiples

Market Cap/Earnings (TTM) (?)

-31.07

Market Cap/Equity (MRQ) (?)

0.99

Market Cap/Revenue (TTM) (?)

0.47

Market Cap/EBIT (TTM) (?)

-8.56

Market Cap/EBITDA (TTM) (?)

-12.20

Enterprise Value/Earnings (TTM) (?)

-22.76

Enterprise Value/Equity (MRQ) (?)

0.73

Enterprise Value/Revenue (TTM) (?)

0.34

Enterprise Value/EBIT (TTM) (?)

-6.27

Enterprise Value/EBITDA (TTM) (?)

-8.94

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.24

UK Pound

1

Rs.102.17

Euro

1

Rs.84.82

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.