MIRA
INFORM REPORT
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Report Date : |
09.01.2014 |
IDENTIFICATION DETAILS
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Name : |
KOPLA CO.,LTD. |
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Registered Office : |
215, 1 Ma, Sihwa Industrial CPLX, 525-1, Jangan-Ri, Jangan-Myeon,
Hwaseong, 445943, Korea |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
15.10.1997 |
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Legal Form : |
Public Independent |
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Line of Business : |
Subject is engaged in the manufacture and sale of high functional polymer
materials. |
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No. of Employees : |
67 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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South Korea |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source : CIA |
Company name & address
KOPLA CO., LTD.
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Business Description
KOPLA CO., LTD. is a Korea-based company engaged in the manufacture and sale
of high functional polymer materials. The Company's products include polyamide
(PA) 66, PA6, polybutylene terephthalate (PBT), polycarbonate (PC),
polyethylene terephthalate (PET), polypropylene (PP) and acrylonitrile
butadiene styrene (ABS). Its products are applied in automobile components,
such as engine head covers, transmissions, radiator tanks, electrical
components and others; electrical and electronic components, such as cable ties
and bobbins, and other industrial products, such as furniture, sports goods,
electronic tools and others. The Company distributes its products within
domestic market and to overseas markets. For the six months ended 30 June 2013,
Kopla Co., Ltd. revenues decreased 5% to W44.56B. Net income increased 5% to
W3.27B. Revenues reflect China segment decrease of 21% to W7.45B, Domestic
segment decrease of 5% to W33.48B. Net income reflects Gain-Foreign Currency
Transaction increase from W60.3M to W250.7M (income), Gains on Foreign Currency
Translation increase from W44.5M to W131.2M (income).
Industry
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Industry |
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ANZSIC 2006: |
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ISIC Rev 4: |
2013 -
Manufacture of plastics and synthetic rubber in primary forms |
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NACE Rev 2: |
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NAICS 2012: |
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UK SIC 2007: |
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US SIC 1987: |
2821 -
Plastics Materials, Synthetic Resins, and Nonvulcanizable Elastomers |
Key Executives
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Name |
Title |
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Chief Executive Officer, Director |
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Chief Financial Officer, Managing Director |
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Internal Auditor |
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Non-Executive Independent Director |
Significant Developments
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Topic |
#* |
Most Recent
Headline |
Date |
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1 |
25-Sep-2013 |
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|
4 |
Kopla Co
Ltd Adjusts Exercise Price of First Bonds with Warrants |
24-Oct-2013 |
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2 |
17-Dec-2013 |
* number of significant developments within the last 12 months
News
|
Title |
Date |
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Kopla Co
Ltd declares annual cash dividend for FY 2013 |
16-Dec-2013 |
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Kopla plans
Georgia compounding plant. |
4-Dec-2013 |
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PLASTICS:
S. Korea's Kopla to Build Compounding Plant in Ga. |
25-Nov-2013 |
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Another
Korean Firm to Open a Facility in West Point |
19-Nov-2013 |
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Kopla Co Ltd
Declares Annual Cash Dividend for FY 2012 |
6-Feb-2013 |
Financial Summary
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As of 30-Jun-2013 |
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Stock Snapshot
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Traded: KOSDAQ: 126600 |
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As of 6-Dec-2013 Financials in: KRW |
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1 - Profit & Loss Item Exchange Rate: USD
1 = KRW 1126.849
2 - Balance Sheet Item Exchange Rate: USD 1 =
KRW 1066.4
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KOPLA CO., LTD. is a Korea-based company engaged in the manufacture and
sale of high functional polymer materials. The Company's products include polyamide
(PA) 66, PA6, polybutylene terephthalate (PBT), polycarbonate (PC),
polyethylene terephthalate (PET), polypropylene (PP) and acrylonitrile
butadiene styrene (ABS). Its products are applied in automobile components,
such as engine head covers, transmissions, radiator tanks, electrical
components and others; electrical and electronic components, such as cable ties
and bobbins, and other industrial products, such as furniture, sports goods,
electronic tools and others. The Company distributes its products within
domestic market and to overseas markets. For the six months ended 30 June 2013,
Kopla Co., Ltd. revenues decreased 5% to W44.56B. Net income increased 5% to
W3.27B. Revenues reflect China segment decrease of 21% to W7.45B, Domestic
segment decrease of 5% to W33.48B. Net income reflects Gain-Foreign Currency
Transaction increase from W60.3M to W250.7M (income), Gains on Foreign Currency
Translation increase from W44.5M to W131.2M (income).
More Business Descriptions
Manufacture of engineering plastic resin materials
Plastic Resin Mfr
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Executives Report
Board of Directors
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Non-Executive Independent Director |
Director/Board Member |
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Executives
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Chief Executive Officer, Director |
Chief Executive Officer |
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Assistant Managing Director |
Managing Director |
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Assistant Managing Director |
Managing Director |
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Assistant Managing Director |
Managing Director |
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Chief Financial Officer, Managing Director |
Managing Director |
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Internal Auditor |
Accounting Executive |
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News
|
Kopla Co
Ltd declares annual cash dividend for FY 2013 |
16-Dec-2013 |
|
Kopla plans
Georgia compounding plant. |
04-Dec-2013 |
|
PLASTICS:
S. Korea's Kopla to Build Compounding Plant in Ga. |
25-Nov-2013 |
|
Another
Korean Firm to Open a Facility in West Point |
19-Nov-2013 |
|
Kopla Co Ltd
Declares Annual Cash Dividend for FY 2012 |
06-Feb-2013 |
Annual Income Statement
Financials in: USD (mil)
Except for share
items (millions) and per share items (actual units)
Financial Glossary
|
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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 |
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UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Restated Normal |
Updated Normal |
Updated Normal |
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Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
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Exchange Rate (Period Average) |
1126.848795 |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
|
Auditor |
Samil Accounting
Corp. |
Samil Accounting
Corp. |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
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Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
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Net Sales |
78.4 |
76.0 |
59.1 |
36.8 |
34.8 |
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Revenue |
78.4 |
76.0 |
59.1 |
36.8 |
34.8 |
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Total Revenue |
78.4 |
76.0 |
59.1 |
36.8 |
34.8 |
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Cost of Revenue |
67.5 |
67.2 |
49.9 |
30.4 |
27.4 |
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Cost of Revenue, Total |
67.5 |
67.2 |
49.9 |
30.4 |
27.4 |
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Gross Profit |
11.0 |
8.7 |
9.2 |
6.4 |
7.4 |
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Selling/General/Administrative Expense |
1.7 |
1.7 |
2.0 |
1.4 |
1.7 |
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Labor & Related Expense |
1.5 |
1.4 |
1.5 |
1.2 |
2.0 |
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Advertising Expense |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Selling/General/Administrative Expenses |
3.2 |
3.1 |
3.5 |
2.6 |
3.7 |
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Research & Development |
1.3 |
1.2 |
1.1 |
0.9 |
0.9 |
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Depreciation |
0.2 |
0.1 |
0.0 |
0.0 |
0.0 |
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Amortization of Intangibles |
0.0 |
0.0 |
- |
- |
- |
|
Depreciation/Amortization |
0.2 |
0.2 |
0.0 |
0.0 |
0.0 |
|
Investment Income -
Operating |
- |
- |
0.1 |
- |
- |
|
Interest/Investment Income - Operating |
- |
- |
0.1 |
- |
- |
|
Interest Expense (Income) - Net Operating Total |
- |
- |
0.1 |
- |
- |
|
Loss (Gain) on Sale of Assets - Operating |
- |
- |
0.0 |
- |
- |
|
Unusual Expense (Income) |
- |
- |
0.0 |
- |
- |
|
Other Operating Expense |
- |
0.0 |
0.0 |
- |
- |
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Other, Net |
- |
0.0 |
0.0 |
- |
- |
|
Other Operating Expenses, Total |
- |
0.0 |
0.0 |
- |
- |
|
Total Operating Expense |
72.1 |
71.7 |
54.5 |
34.0 |
32.0 |
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Operating Income |
6.3 |
4.3 |
4.5 |
2.8 |
2.8 |
|
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|
|
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|
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Interest Expense - Non-Operating |
-0.3 |
-0.3 |
-0.2 |
-0.1 |
-0.2 |
|
Interest Expense, Net Non-Operating |
-0.3 |
-0.3 |
-0.2 |
-0.1 |
-0.2 |
|
Interest Income -
Non-Operating |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Investment Income -
Non-Operating |
-0.1 |
0.0 |
- |
0.0 |
0.4 |
|
Interest/Investment Income - Non-Operating |
-0.1 |
0.0 |
0.0 |
0.0 |
0.4 |
|
Interest Income (Expense) - Net Non-Operating Total |
-0.4 |
-0.4 |
-0.2 |
-0.1 |
0.2 |
|
Gain (Loss) on Sale of Assets |
0.0 |
0.0 |
- |
0.0 |
- |
|
Other Non-Operating Income (Expense) |
0.3 |
0.2 |
- |
0.0 |
-0.2 |
|
Other, Net |
0.3 |
0.2 |
- |
0.0 |
-0.2 |
|
Income Before Tax |
6.2 |
4.1 |
4.3 |
2.7 |
2.8 |
|
|
|
|
|
|
|
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Total Income Tax |
0.9 |
0.6 |
0.7 |
0.4 |
0.6 |
|
Income After Tax |
5.3 |
3.5 |
3.6 |
2.4 |
2.2 |
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Net Income Before Extraord Items |
5.3 |
3.5 |
3.6 |
2.4 |
2.2 |
|
Net Income |
5.3 |
3.5 |
3.6 |
2.4 |
2.2 |
|
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|
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|
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Income Available to Common Excl Extraord Items |
5.3 |
3.5 |
3.6 |
2.4 |
2.2 |
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Income Available to Common Incl Extraord Items |
5.3 |
3.5 |
3.6 |
2.4 |
2.2 |
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|
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Basic/Primary Weighted Average Shares |
8.7 |
8.7 |
6.3 |
4.9 |
3.9 |
|
Basic EPS Excl Extraord Items |
0.61 |
0.41 |
0.58 |
0.49 |
0.56 |
|
Basic/Primary EPS Incl Extraord Items |
0.61 |
0.41 |
0.58 |
0.49 |
0.56 |
|
Dilution Adjustment |
- |
- |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
5.3 |
3.5 |
3.6 |
2.4 |
2.2 |
|
Diluted Weighted Average Shares |
8.7 |
8.7 |
6.3 |
4.9 |
3.9 |
|
Diluted EPS Excl Extraord Items |
0.61 |
0.41 |
0.58 |
0.49 |
0.56 |
|
Diluted EPS Incl Extraord Items |
0.61 |
0.41 |
0.58 |
0.49 |
0.56 |
|
Dividends per Share - Common Stock Primary Issue |
0.07 |
0.08 |
0.02 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.5 |
0.5 |
0.2 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
0.3 |
0.3 |
0.2 |
0.1 |
0.2 |
|
Depreciation, Supplemental |
0.8 |
0.6 |
0.2 |
0.2 |
0.3 |
|
Total Special Items |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Normalized Income Before Tax |
6.2 |
4.1 |
4.3 |
2.7 |
2.8 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Inc Tax Ex Impact of Sp Items |
0.9 |
0.6 |
0.7 |
0.4 |
0.6 |
|
Normalized Income After Tax |
5.3 |
3.5 |
3.6 |
2.4 |
2.2 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
5.3 |
3.5 |
3.6 |
2.4 |
2.2 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.61 |
0.40 |
0.58 |
0.49 |
0.56 |
|
Diluted Normalized EPS |
0.61 |
0.40 |
0.58 |
0.49 |
0.56 |
|
Amort of Intangibles, Supplemental |
0.0 |
0.0 |
0.0 |
- |
- |
|
Rental Expenses |
0.0 |
0.0 |
0.0 |
- |
- |
|
Advertising Expense, Supplemental |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Research & Development Exp, Supplemental |
1.3 |
1.2 |
1.1 |
0.9 |
0.9 |
|
Normalized EBIT |
6.3 |
4.3 |
4.6 |
2.8 |
2.8 |
|
Normalized EBITDA |
7.1 |
4.9 |
4.8 |
3.0 |
3.0 |
|
Current Tax - Domestic |
0.9 |
0.6 |
- |
- |
- |
|
Current Tax - Total |
0.9 |
0.6 |
- |
- |
- |
|
Other Tax |
0.0 |
-0.1 |
- |
- |
- |
|
Income Tax - Total |
0.9 |
0.6 |
- |
- |
- |
|
Interest Cost - Domestic |
0.0 |
- |
- |
- |
- |
|
Service Cost - Domestic |
0.1 |
0.2 |
- |
- |
- |
|
Domestic Pension Plan Expense |
0.1 |
0.2 |
- |
- |
- |
|
Defined Contribution Expense - Domestic |
0.1 |
0.1 |
- |
- |
- |
|
Total Pension Expense |
0.3 |
0.3 |
- |
- |
- |
|
Total Plan Interest Cost |
0.0 |
- |
- |
- |
- |
|
Total Plan Service Cost |
0.1 |
0.2 |
- |
- |
- |
Annual Balance Sheet
Financials in: USD (mil)
Financial Glossary
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1066.400024 |
1152 |
1134.9 |
1164.475 |
1259.55 |
|
Auditor |
Samil Accounting
Corp. |
Samil Accounting
Corp. |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
0.0 |
0.6 |
0.5 |
0.8 |
0.2 |
|
Short Term Investments |
- |
- |
- |
0.0 |
0.0 |
|
Cash and Short Term Investments |
0.0 |
0.6 |
0.5 |
0.8 |
0.2 |
|
Accounts Receivable -
Trade, Gross |
19.2 |
17.3 |
13.4 |
9.1 |
4.4 |
|
Provision for Doubtful
Accounts |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.2 |
|
Trade Accounts Receivable - Net |
19.2 |
17.2 |
13.4 |
9.1 |
4.1 |
|
Notes Receivable - Short Term |
0.0 |
0.2 |
0.3 |
- |
- |
|
Other Receivables |
0.2 |
0.0 |
0.4 |
0.1 |
0.1 |
|
Total Receivables, Net |
19.4 |
17.4 |
14.0 |
9.2 |
4.2 |
|
Inventories - Finished Goods |
3.9 |
3.6 |
3.2 |
1.6 |
2.1 |
|
Inventories - Work In Progress |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Inventories - Raw Materials |
8.9 |
6.1 |
2.9 |
2.4 |
2.8 |
|
Inventories - Other |
1.1 |
2.6 |
1.2 |
1.8 |
0.2 |
|
Total Inventory |
14.0 |
12.4 |
7.3 |
5.8 |
5.1 |
|
Prepaid Expenses |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Income Tax - Current Asset |
- |
- |
- |
0.0 |
0.0 |
|
Other Current Assets |
0.1 |
0.0 |
0.0 |
- |
- |
|
Other Current Assets, Total |
0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Current Assets |
33.5 |
30.4 |
21.8 |
15.8 |
9.6 |
|
|
|
|
|
|
|
|
Buildings |
5.7 |
5.3 |
0.8 |
0.7 |
0.7 |
|
Land/Improvements |
4.0 |
- |
- |
- |
- |
|
Machinery/Equipment |
9.1 |
6.2 |
3.2 |
2.3 |
2.1 |
|
Construction in
Progress |
- |
0.0 |
6.3 |
0.4 |
0.1 |
|
Other
Property/Plant/Equipment |
0.4 |
0.4 |
0.2 |
0.2 |
0.2 |
|
Property/Plant/Equipment - Gross |
19.2 |
11.9 |
10.4 |
3.7 |
3.0 |
|
Accumulated Depreciation |
-3.6 |
-2.5 |
-2.3 |
-2.4 |
-2.0 |
|
Property/Plant/Equipment - Net |
15.7 |
13.0 |
11.5 |
3.9 |
3.4 |
|
Intangibles - Gross |
0.2 |
- |
- |
- |
- |
|
Accumulated Intangible Amortization |
0.0 |
- |
- |
- |
- |
|
Intangibles, Net |
0.4 |
0.2 |
0.0 |
- |
- |
|
LT Investment - Affiliate Companies |
0.0 |
- |
- |
- |
- |
|
LT Investments - Other |
0.9 |
0.8 |
0.0 |
0.0 |
- |
|
Long Term Investments |
0.9 |
0.8 |
0.0 |
0.0 |
- |
|
Deferred Income Tax - Long Term Asset |
- |
- |
- |
- |
0.0 |
|
Other Long Term Assets |
0.0 |
0.1 |
0.0 |
0.1 |
0.1 |
|
Other Long Term Assets, Total |
0.0 |
0.1 |
0.0 |
0.1 |
0.1 |
|
Total Assets |
50.4 |
44.5 |
33.4 |
19.8 |
13.0 |
|
|
|
|
|
|
|
|
Accounts Payable |
3.9 |
4.2 |
3.9 |
4.9 |
0.6 |
|
Accrued Expenses |
0.5 |
0.1 |
0.2 |
0.1 |
0.0 |
|
Notes Payable/Short Term Debt |
7.4 |
8.9 |
1.0 |
1.9 |
2.1 |
|
Current Portion - Long Term Debt/Capital Leases |
- |
- |
- |
0.2 |
- |
|
Customer Advances |
0.1 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Income Taxes Payable |
0.7 |
0.5 |
0.5 |
0.2 |
0.4 |
|
Other Payables |
1.0 |
1.2 |
1.3 |
0.6 |
0.9 |
|
Other Current Liabilities |
0.0 |
0.1 |
0.1 |
0.1 |
0.2 |
|
Other Current liabilities, Total |
1.9 |
1.8 |
1.9 |
0.8 |
1.5 |
|
Total Current Liabilities |
13.6 |
15.0 |
6.9 |
7.9 |
4.2 |
|
|
|
|
|
|
|
|
Long Term Debt |
- |
- |
- |
0.3 |
0.6 |
|
Total Long Term Debt |
0.0 |
0.0 |
0.0 |
0.3 |
0.6 |
|
Total Debt |
7.4 |
8.9 |
1.0 |
2.5 |
2.7 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
0.0 |
0.0 |
0.1 |
0.0 |
- |
|
Deferred Income Tax |
0.0 |
0.0 |
0.1 |
0.0 |
- |
|
Pension Benefits - Underfunded |
0.0 |
- |
- |
0.1 |
0.0 |
|
Other Long Term Liabilities |
0.1 |
0.1 |
- |
- |
- |
|
Other Liabilities, Total |
0.2 |
0.1 |
- |
0.1 |
0.0 |
|
Total Liabilities |
13.8 |
15.2 |
7.0 |
8.3 |
4.8 |
|
|
|
|
|
|
|
|
Common Stock |
4.1 |
2.5 |
2.6 |
1.4 |
1.3 |
|
Common Stock |
4.1 |
2.5 |
2.6 |
1.4 |
1.3 |
|
Additional Paid-In Capital |
8.8 |
9.4 |
9.5 |
- |
- |
|
Retained Earnings (Accumulated Deficit) |
23.9 |
17.4 |
14.4 |
10.1 |
7.0 |
|
Treasury Stock - Common |
0.0 |
- |
- |
- |
- |
|
Other Equity |
0.0 |
- |
- |
- |
0.0 |
|
Other Equity, Total |
0.0 |
- |
- |
- |
0.0 |
|
Total Equity |
36.7 |
29.3 |
26.5 |
11.5 |
8.2 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
50.4 |
44.5 |
33.4 |
19.8 |
13.0 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
8.7 |
8.7 |
8.7 |
4.9 |
4.9 |
|
Total Common Shares Outstanding |
8.7 |
8.7 |
8.7 |
4.9 |
4.9 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Employees |
67 |
56 |
54 |
49 |
47 |
|
Accumulated Intangible Amort, Suppl. |
0.0 |
0.0 |
0.0 |
- |
- |
|
Deferred Revenue - Current |
0.1 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Total Long Term Debt, Supplemental |
- |
- |
- |
0.5 |
0.6 |
|
Long Term Debt Maturing within 1 Year |
- |
- |
- |
0.2 |
0.1 |
|
Long Term Debt Maturing in Year 2 |
- |
- |
- |
0.1 |
0.1 |
|
Long Term Debt Maturing in Year 3 |
- |
- |
- |
0.2 |
0.1 |
|
Long Term Debt Maturing in Year 4 |
- |
- |
- |
- |
0.2 |
|
Long Term Debt Maturing in 2-3 Years |
- |
- |
- |
0.3 |
0.3 |
|
Long Term Debt Maturing in 4-5 Years |
- |
- |
- |
- |
0.2 |
|
Long Term Debt Matur. in Year 6 & Beyond |
- |
- |
- |
0.0 |
- |
|
Pension Obligation - Domestic |
0.2 |
0.0 |
- |
- |
- |
|
Plan Assets - Domestic |
0.2 |
0.0 |
- |
- |
- |
|
Funded Status - Domestic |
0.0 |
0.0 |
- |
- |
- |
|
Total Funded Status |
0.0 |
0.0 |
- |
- |
- |
|
Discount Rate - Domestic |
3.86% |
- |
- |
- |
- |
|
Compensation Rate - Domestic |
5.00% |
- |
- |
- |
- |
|
Other Investments % - Domestic |
- |
100.00% |
- |
- |
- |
|
Total Plan Obligations |
0.2 |
0.0 |
- |
- |
- |
|
Total Plan Assets |
0.2 |
0.0 |
- |
- |
- |
Annual Cash Flows
Financials in: USD (mil)
Financial Glossary
|
|
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 |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate (Period Average) |
1126.848795 |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
|
Auditor |
Samil Accounting
Corp. |
Samil Accounting
Corp. |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
5.3 |
3.5 |
3.6 |
2.4 |
2.2 |
|
Depreciation |
0.9 |
0.6 |
0.2 |
0.2 |
0.3 |
|
Depreciation/Depletion |
0.9 |
0.6 |
0.2 |
0.2 |
0.3 |
|
Amortization of Intangibles |
0.0 |
0.0 |
- |
- |
- |
|
Amortization |
0.0 |
0.0 |
- |
- |
- |
|
Deferred Taxes |
- |
- |
- |
0.0 |
0.0 |
|
Unusual Items |
0.1 |
0.0 |
0.0 |
0.0 |
0.2 |
|
Other Non-Cash Items |
1.4 |
1.2 |
1.2 |
0.3 |
0.3 |
|
Non-Cash Items |
1.6 |
1.2 |
1.2 |
0.3 |
0.5 |
|
Accounts Receivable |
-0.8 |
-3.8 |
-4.0 |
-4.2 |
-1.1 |
|
Inventories |
-0.7 |
-5.5 |
-1.4 |
-0.3 |
-2.5 |
|
Prepaid Expenses |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Assets |
0.2 |
0.1 |
-0.3 |
- |
- |
|
Accounts Payable |
-0.9 |
0.3 |
-0.5 |
3.4 |
-0.2 |
|
Accrued Expenses |
0.2 |
-0.1 |
0.1 |
0.0 |
0.0 |
|
Taxes Payable |
- |
- |
- |
-0.2 |
0.1 |
|
Other Liabilities |
-0.2 |
-0.2 |
-0.3 |
-0.3 |
0.1 |
|
Other Operating Cash Flow |
-1.0 |
-0.9 |
-0.5 |
- |
- |
|
Changes in Working Capital |
-3.1 |
-10.2 |
-6.8 |
-1.5 |
-3.5 |
|
Cash from Operating Activities |
4.6 |
-4.7 |
-1.8 |
1.3 |
-0.6 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-2.3 |
-3.2 |
-7.2 |
-0.5 |
-0.1 |
|
Purchase/Acquisition of Intangibles |
-0.3 |
-0.2 |
- |
- |
- |
|
Capital Expenditures |
-2.6 |
-3.4 |
-7.2 |
-0.5 |
-0.1 |
|
Sale of Fixed Assets |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Sale/Maturity of Investment |
- |
- |
0.0 |
- |
- |
|
Purchase of Investments |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Investing Cash Flow |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Investing Cash Flow Items, Total |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Cash from Investing Activities |
-2.6 |
-3.4 |
-7.2 |
-0.5 |
-0.1 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
0.0 |
0.1 |
- |
0.0 |
0.0 |
|
Financing Cash Flow Items |
0.0 |
0.1 |
- |
0.0 |
0.0 |
|
Total Cash Dividends Paid |
-0.5 |
-0.2 |
- |
- |
-0.3 |
|
Sale/Issuance of
Common |
- |
- |
10.4 |
- |
0.4 |
|
Repurchase/Retirement
of Common |
0.0 |
- |
- |
- |
- |
|
Common Stock, Net |
0.0 |
- |
10.4 |
- |
0.4 |
|
Issuance (Retirement) of Stock, Net |
0.0 |
- |
10.4 |
- |
0.4 |
|
Short Term Debt Issued |
5.2 |
11.8 |
- |
- |
0.6 |
|
Short Term Debt
Reduction |
-7.3 |
-3.6 |
-1.6 |
-0.3 |
-0.3 |
|
Short Term Debt, Net |
-2.0 |
8.2 |
-1.6 |
-0.3 |
0.3 |
|
Long Term Debt Issued |
- |
- |
- |
- |
0.7 |
|
Long Term Debt
Reduction |
- |
- |
-0.2 |
-0.1 |
-0.3 |
|
Long Term Debt, Net |
- |
- |
-0.2 |
-0.1 |
0.4 |
|
Issuance (Retirement) of Debt, Net |
-2.0 |
8.2 |
-1.8 |
-0.4 |
0.7 |
|
Cash from Financing Activities |
-2.6 |
8.2 |
8.6 |
-0.3 |
0.8 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
- |
- |
- |
- |
|
Net Change in Cash |
-0.6 |
0.1 |
-0.3 |
0.5 |
0.1 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
0.6 |
0.5 |
0.8 |
0.2 |
0.1 |
|
Net Cash - Ending Balance |
0.0 |
0.6 |
0.5 |
0.7 |
0.2 |
|
Cash Interest Paid |
0.3 |
0.3 |
0.2 |
- |
- |
|
Cash Taxes Paid |
0.7 |
0.6 |
0.3 |
- |
- |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
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 |
Reclassified
Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate (Period Average) |
1126.848795 |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
|
Auditor |
Samil Accounting
Corp. |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Sales Revenue of Finished Goods |
- |
- |
- |
35.8 |
34.0 |
|
Sales Revenue of Merchandises |
- |
- |
- |
1.0 |
0.8 |
|
Sales Revenue |
78.4 |
76.0 |
59.1 |
- |
- |
|
Total Revenue |
78.4 |
76.0 |
59.1 |
36.8 |
34.8 |
|
|
|
|
|
|
|
|
Cost of Finished Goods Sold |
- |
- |
- |
29.4 |
26.7 |
|
Cost of Merchandises Sold |
- |
- |
- |
1.0 |
0.7 |
|
Costs of Goods & Services Sold |
67.5 |
67.2 |
49.9 |
- |
- |
|
Salaries & Wages |
1.2 |
1.1 |
1.2 |
0.8 |
1.6 |
|
Retirement & Severance Benefits |
0.1 |
0.1 |
0.1 |
0.2 |
0.2 |
|
Employee Benefits |
0.2 |
0.2 |
0.2 |
0.2 |
0.2 |
|
Travel Expense |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Rental Expense |
0.0 |
0.0 |
0.0 |
- |
- |
|
Sample Expense |
0.1 |
0.1 |
0.1 |
- |
- |
|
Communication Expense |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Taxes & Dues |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Consumable Expense |
0.0 |
0.0 |
0.1 |
0.0 |
0.0 |
|
Publication Expense |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Vehicle Maintenance Expense |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Repair Expense |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Insurance Expense |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Commissions |
0.3 |
0.4 |
0.6 |
0.5 |
0.6 |
|
Storage Expense |
0.0 |
0.0 |
0.2 |
0.2 |
0.1 |
|
Shipping & Handling Expense |
0.8 |
0.9 |
0.8 |
0.5 |
0.7 |
|
Packaging Expense |
0.1 |
0.0 |
0.0 |
0.0 |
- |
|
Entertainment Expense |
0.1 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Advertising Expense |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
R & D Expense |
1.3 |
1.2 |
1.1 |
0.9 |
0.9 |
|
Depreciation in SGA |
0.2 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Amort. of Intangibless |
0.0 |
0.0 |
- |
- |
- |
|
Education & Training Expense |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Expense of Allow. for DA |
- |
- |
0.0 |
- |
0.1 |
|
Other Selling & Administrative Expense |
- |
0.0 |
0.0 |
- |
- |
|
Other Operating Income |
- |
0.0 |
- |
- |
- |
|
Reversal of Allow. for DA |
0.0 |
0.0 |
- |
- |
- |
|
Gain on Disposal of PPE |
- |
- |
0.0 |
- |
- |
|
Gain on Valt of Non-Current Fincl Instrm |
- |
- |
0.0 |
- |
- |
|
Gain on Foreign Currency Transaction |
- |
- |
-0.1 |
- |
- |
|
Gain on Foreign Currency Translation |
- |
- |
0.0 |
- |
- |
|
Miscellaneous Income |
- |
- |
0.0 |
- |
- |
|
Adj. for Other Operating Income |
- |
- |
0.0 |
- |
- |
|
Loss on Foreign Currency Transaction |
- |
- |
0.2 |
- |
- |
|
Loss on Foreign Currency Translation |
- |
- |
0.0 |
- |
- |
|
Other operating Expense |
- |
0.0 |
- |
- |
- |
|
Miscellaneous Loss |
- |
- |
0.0 |
- |
- |
|
Adj. for Other Operating Expense |
- |
- |
0.0 |
- |
- |
|
Total Operating Expense |
72.1 |
71.7 |
54.5 |
34.0 |
32.0 |
|
|
|
|
|
|
|
|
Interest Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Gain-Foreign Currency Transaction |
0.1 |
0.1 |
- |
- |
- |
|
Gains on Foreign Currency Translation |
0.0 |
0.0 |
- |
- |
- |
|
Losses on Foreign Currency Transactions |
-0.2 |
-0.1 |
- |
- |
- |
|
Losses on Foreign Currency Translation |
- |
0.0 |
- |
- |
- |
|
Gain-Valuationof LT Financial Assets |
0.0 |
- |
- |
- |
- |
|
Gain-Valuationof LT Financial Assets |
-0.1 |
0.0 |
- |
- |
- |
|
Gains on Foreign Currency Transactions |
- |
- |
- |
0.2 |
0.3 |
|
Gains on Foreign Currency Translation |
- |
- |
- |
0.0 |
0.1 |
|
Gain-Valuation of LT Financial Assets |
- |
- |
- |
0.0 |
- |
|
Gain on Disposal of PPE |
0.0 |
0.0 |
- |
- |
- |
|
Gains on Sale of Property, Plant and Equ |
- |
- |
- |
0.0 |
- |
|
Miscellaneous Income |
0.1 |
0.0 |
- |
- |
- |
|
Miscellaneous Losses |
0.0 |
0.0 |
- |
- |
- |
|
Rental Income, Net |
0.2 |
0.2 |
- |
- |
- |
|
Donations Paid |
0.0 |
0.0 |
- |
- |
- |
|
Other Other Non-Operating Income |
0.0 |
- |
- |
- |
- |
|
Other Other Non-Operating Expense |
0.0 |
- |
- |
- |
- |
|
Reversal of Allow. for DA |
- |
- |
- |
0.0 |
- |
|
Miscellaneous Income |
- |
- |
- |
0.0 |
0.0 |
|
Interest Expense |
-0.3 |
-0.3 |
-0.2 |
-0.1 |
-0.2 |
|
Losses on Foreign Currency Transactions |
- |
- |
- |
-0.2 |
0.0 |
|
Losses on Foreign Currency Translation |
- |
- |
- |
0.0 |
0.0 |
|
Losses on Sale of Trade Receivable |
- |
- |
- |
0.0 |
-0.2 |
|
Miscellaneous Losses |
- |
- |
- |
0.0 |
0.0 |
|
Net Income Before Taxes |
6.2 |
4.1 |
4.3 |
2.7 |
2.8 |
|
|
|
|
|
|
|
|
Prov. for Income Taxes |
0.9 |
0.6 |
0.7 |
0.4 |
0.6 |
|
Net Income After Taxes |
5.3 |
3.5 |
3.6 |
2.4 |
2.2 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
5.3 |
3.5 |
3.6 |
2.4 |
2.2 |
|
Net Income |
5.3 |
3.5 |
3.6 |
2.4 |
2.2 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
5.3 |
3.5 |
3.6 |
2.4 |
2.2 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
5.3 |
3.5 |
3.6 |
2.4 |
2.2 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
8.7 |
8.7 |
6.3 |
4.9 |
3.9 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.61 |
0.41 |
0.58 |
0.49 |
0.56 |
|
Basic EPS Including ExtraOrdinary Items |
0.61 |
0.41 |
0.58 |
0.49 |
0.56 |
|
Dilution Adjustment |
- |
- |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
5.3 |
3.5 |
3.6 |
2.4 |
2.2 |
|
Diluted Weighted Average Shares |
8.7 |
8.7 |
6.3 |
4.9 |
3.9 |
|
Diluted EPS Excluding ExtraOrd Items |
0.61 |
0.41 |
0.58 |
0.49 |
0.56 |
|
Diluted EPS Including ExtraOrd Items |
0.61 |
0.41 |
0.58 |
0.49 |
0.56 |
|
DPS-Ordinary Shares |
0.07 |
0.08 |
0.02 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.5 |
0.5 |
0.2 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
6.2 |
4.1 |
4.3 |
2.7 |
2.8 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
0.9 |
0.6 |
0.7 |
0.4 |
0.6 |
|
Normalized Income After Taxes |
5.3 |
3.5 |
3.6 |
2.4 |
2.2 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
5.3 |
3.5 |
3.6 |
2.4 |
2.2 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.61 |
0.40 |
0.58 |
0.49 |
0.56 |
|
Diluted Normalized EPS |
0.61 |
0.40 |
0.58 |
0.49 |
0.56 |
|
Interest Expense |
0.3 |
0.3 |
- |
- |
- |
|
Interest Expense, Supplemental |
- |
- |
0.2 |
0.1 |
0.2 |
|
Advertising Expense, Supplemental |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
R&D Expense, Supplemental |
1.3 |
1.2 |
1.1 |
0.9 |
0.9 |
|
Rental Expense |
0.0 |
0.0 |
- |
- |
- |
|
Rental Expense, Supplemental |
- |
- |
0.0 |
- |
- |
|
BC - Depreciation of Fixed Assets |
0.8 |
0.6 |
- |
- |
- |
|
Depreciation, Supplemental |
- |
- |
0.2 |
0.2 |
0.3 |
|
BC - Depreciation of Intangible Assets |
0.0 |
0.0 |
- |
- |
- |
|
Amort of Intangibles, Supplemental |
- |
- |
0.0 |
- |
- |
|
Other Prov. for Income Taxes |
- |
0.0 |
- |
- |
- |
|
Current Tax - Domestic |
0.9 |
0.6 |
- |
- |
- |
|
Current Tax - Total |
0.9 |
0.6 |
- |
- |
- |
|
Other Tax - Deferred/Current |
0.0 |
-0.1 |
- |
- |
- |
|
Income Tax - Total |
0.9 |
0.6 |
- |
- |
- |
|
Interest Cost |
0.0 |
- |
- |
- |
- |
|
Service Cost |
0.1 |
0.2 |
- |
- |
- |
|
Domestic Pension Plan Expense |
0.1 |
0.2 |
- |
- |
- |
|
Defined Contribution Expense |
0.1 |
0.1 |
- |
- |
- |
|
Total Pension Expense |
0.3 |
0.3 |
- |
- |
- |
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 |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1066.400024 |
1152 |
1134.9 |
1164.475 |
1259.55 |
|
Auditor |
Samil Accounting
Corp. |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Cash Equivalents |
0.0 |
0.6 |
0.5 |
0.8 |
0.2 |
|
Short-term Financial Instruments |
- |
- |
- |
0.0 |
0.0 |
|
Trade Receivable, Gross |
19.2 |
17.3 |
13.4 |
9.1 |
4.4 |
|
Allow. for DA for Trade Receivable |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.2 |
|
Account Receivable |
0.2 |
0.0 |
0.4 |
0.1 |
0.1 |
|
Current Loans |
0.0 |
0.2 |
0.3 |
- |
- |
|
Accrued Income |
- |
- |
- |
0.0 |
0.0 |
|
Prepaid Expense |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Advance Payments |
0.4 |
0.8 |
0.1 |
0.2 |
0.2 |
|
Deferred Income Taxes Assets Current |
- |
- |
- |
0.0 |
0.0 |
|
Merchandises |
0.0 |
0.0 |
- |
0.0 |
0.2 |
|
Finished Goods |
4.0 |
3.6 |
3.2 |
1.6 |
1.9 |
|
Allow. for Loss-Valt of Finished Goods |
-0.1 |
- |
- |
0.0 |
0.0 |
|
Goods in Transit |
0.8 |
1.8 |
1.1 |
1.6 |
- |
|
Provision for Supplemental Raw Materials |
0.0 |
- |
- |
- |
- |
|
Raw Materials |
8.9 |
6.0 |
2.7 |
2.3 |
2.8 |
|
Allow. for Loss on Valt of Raw Materials |
-0.1 |
- |
- |
0.0 |
0.0 |
|
Supplemental Raw Materials |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Works in Process |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Rental Guarantee Deposits |
0.1 |
- |
- |
- |
- |
|
Other Trade Receivable, Net |
0.0 |
0.0 |
0.0 |
- |
- |
|
Other Other Current Assets |
0.0 |
0.0 |
0.0 |
- |
- |
|
Other Inventories |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Current Assets |
33.5 |
30.4 |
21.8 |
15.8 |
9.6 |
|
|
|
|
|
|
|
|
Invmt in Properties-Depreciation |
-0.3 |
- |
- |
- |
- |
|
Investment Property, Gross |
1.1 |
- |
- |
- |
- |
|
Other Invmt in Properties |
0.0 |
- |
- |
- |
- |
|
Non-Current Fincl Instrm |
0.1 |
0.1 |
0.0 |
0.0 |
- |
|
Non-Current Rental Guarantee Deposits |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Other Non-Current Guarantee Deposits |
0.0 |
0.0 |
0.0 |
- |
- |
|
Invmt in Properties |
- |
0.8 |
- |
- |
- |
|
Lands |
- |
3.7 |
3.4 |
2.6 |
2.3 |
|
Buildings |
5.4 |
4.9 |
0.7 |
0.7 |
0.7 |
|
Buildings-Depreciation |
-0.3 |
-0.1 |
-0.2 |
-0.2 |
-0.2 |
|
Structures |
0.3 |
0.3 |
0.0 |
0.0 |
0.0 |
|
Structures-Depreciation |
-0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Machineries & Equipments |
8.7 |
5.9 |
2.9 |
2.1 |
1.9 |
|
Machineries & Equipments-Depreciation |
-2.7 |
-2.0 |
-1.6 |
-1.8 |
-1.5 |
|
Machineries & Equipments-Govern. Subsidy |
- |
- |
- |
0.0 |
- |
|
Vehicles |
0.4 |
0.4 |
0.2 |
0.3 |
0.2 |
|
Vehicles-Depreciation |
-0.2 |
-0.2 |
-0.2 |
-0.2 |
-0.2 |
|
Fixtures |
0.4 |
0.4 |
0.2 |
0.2 |
0.2 |
|
Fixtures-Depreciation |
-0.3 |
-0.2 |
-0.2 |
-0.2 |
-0.1 |
|
Construction in Progress |
- |
0.0 |
6.3 |
0.4 |
0.1 |
|
Government Subsidy, Total |
0.0 |
0.0 |
0.0 |
- |
- |
|
Deferred Income Taxes Assets Non-current |
- |
- |
- |
- |
0.0 |
|
Software |
- |
0.0 |
- |
- |
- |
|
Membership Rights, Net |
0.3 |
0.0 |
0.0 |
- |
- |
|
Licenses |
- |
0.1 |
- |
- |
- |
|
Property, Plant & Equipment, Net |
- |
0.0 |
0.0 |
- |
- |
|
Other Property, Plant & Equipment, Net |
- |
0.0 |
0.0 |
- |
- |
|
Other Intangibless,Net |
0.0 |
0.0 |
- |
- |
- |
|
Adj. for Other Non-Current Assets |
- |
- |
0.0 |
- |
- |
|
Invmt in Affiliates |
0.0 |
- |
- |
- |
- |
|
Software-Acc Amortization |
0.0 |
- |
- |
- |
- |
|
Licenses-Acc Amortization |
0.0 |
- |
- |
- |
- |
|
Software, Gross |
0.1 |
- |
- |
- |
- |
|
Licenses, Gross |
0.1 |
- |
- |
- |
- |
|
Land/Improvements, Gross |
4.0 |
- |
- |
- |
- |
|
Total Assets |
50.4 |
44.5 |
33.4 |
19.8 |
13.0 |
|
|
|
|
|
|
|
|
Current Trade Payable |
3.9 |
4.2 |
3.9 |
4.9 |
0.6 |
|
Other Payable |
1.0 |
1.2 |
1.3 |
0.6 |
0.9 |
|
Current Tax Liabilities |
0.7 |
0.5 |
0.5 |
0.2 |
0.4 |
|
Accrued Expense |
0.5 |
0.1 |
0.2 |
0.1 |
0.0 |
|
Advance from Customers |
0.1 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Unearned Income |
0.0 |
0.0 |
- |
- |
- |
|
Withheld |
0.0 |
0.1 |
0.1 |
0.1 |
0.2 |
|
ST Debt |
7.4 |
- |
- |
- |
- |
|
Current Borrowings |
- |
8.9 |
1.0 |
1.9 |
2.1 |
|
Current Portion of Long-term Debt |
- |
- |
- |
0.2 |
- |
|
Other Other Current Liabilities - Total |
0.0 |
0.0 |
- |
- |
- |
|
Total Current Liabilities |
13.6 |
15.0 |
6.9 |
7.9 |
4.2 |
|
|
|
|
|
|
|
|
Long-term Borrowings |
- |
- |
- |
0.3 |
0.6 |
|
Total Long Term Debt |
- |
- |
- |
0.3 |
0.6 |
|
|
|
|
|
|
|
|
Deferred Income Taxes, LT Liabilities |
0.0 |
0.0 |
0.1 |
0.0 |
- |
|
Retm&Sevr Benf, Non-Current Liabilities |
0.0 |
- |
- |
- |
- |
|
Prov.for Retirement & Severance Benefits |
- |
- |
- |
0.3 |
0.2 |
|
Plan Assets |
- |
- |
- |
-0.2 |
-0.1 |
|
Rental Guarantee Deposit, LT Liabilities |
0.1 |
0.1 |
- |
- |
- |
|
Ad-Other Non-current Liabilities |
- |
0.0 |
- |
- |
- |
|
Total Liabilities |
13.8 |
15.2 |
7.0 |
8.3 |
4.8 |
|
|
|
|
|
|
|
|
Treasury Stock |
0.0 |
- |
- |
- |
- |
|
Capital Stock |
4.1 |
2.5 |
2.6 |
1.4 |
1.3 |
|
Legal Resvs |
- |
- |
- |
0.0 |
- |
|
Voluntary Reserve |
- |
- |
- |
0.1 |
0.1 |
|
Retained Earnings Carried Forward |
- |
- |
- |
10.0 |
6.8 |
|
Additional Paid in Capital |
8.8 |
9.4 |
9.5 |
- |
- |
|
Disc.s on Stock Issuance |
0.0 |
- |
- |
- |
- |
|
Other Other Capital Ad |
0.0 |
- |
- |
- |
- |
|
Other Capital Ad |
- |
- |
- |
- |
0.0 |
|
Non ContributedReserve&Retain Earn-Total |
23.9 |
17.4 |
14.4 |
- |
- |
|
Total Equity |
36.7 |
29.3 |
26.5 |
11.5 |
8.2 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
50.4 |
44.5 |
33.4 |
19.8 |
13.0 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
8.7 |
8.7 |
8.7 |
4.9 |
4.9 |
|
Total Common Shares Outstanding |
8.7 |
8.7 |
8.7 |
4.9 |
4.9 |
|
T/S-Ordinary Shares |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Advance from Customers |
0.1 |
- |
- |
- |
- |
|
Unearned Income |
0.0 |
- |
- |
- |
- |
|
Deferred Revenue, Current |
- |
0.1 |
0.0 |
0.0 |
0.0 |
|
Software-Acc Amortization |
0.0 |
- |
- |
- |
- |
|
Licenses-Acc Amortization |
0.0 |
- |
- |
- |
- |
|
Accumulated Intangible Amort, Suppl. |
- |
0.0 |
0.0 |
- |
- |
|
Full-Time Employees |
67 |
56 |
54 |
49 |
47 |
|
Long Term Debt Maturing within 1 Year |
- |
- |
- |
0.2 |
- |
|
Long Term Debt Maturing in Year 2 |
- |
- |
- |
0.1 |
- |
|
Long Term Debt Maturing in Year 3 |
- |
- |
- |
0.2 |
0.4 |
|
Long Term Debt Maturing in Year 4 |
- |
- |
- |
- |
0.2 |
|
Total Long Term Debt, Supplemental |
- |
- |
- |
0.5 |
0.6 |
|
Fair Value of Plan Assets |
0.2 |
0.0 |
- |
- |
- |
|
Projected Benefit Obligation |
0.2 |
0.0 |
- |
- |
- |
|
Funded Status |
0.0 |
0.0 |
- |
- |
- |
|
Total Funded Status |
0.0 |
0.0 |
- |
- |
- |
|
Discount Rate - Period End - End Range |
3.86% |
- |
- |
- |
- |
|
Compensation Increase Rate - Period End |
5.00% |
- |
- |
- |
- |
|
Abord Insurance - % Other |
8.00% |
100.00% |
- |
- |
- |
|
Time Deposits - % Other |
92.00% |
- |
- |
- |
- |
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 |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate (Period Average) |
1126.848795 |
1107.891393 |
1156.281981 |
1276.385219 |
1100.562842 |
|
Auditor |
Samil Accounting
Corp. |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income or Loss |
5.3 |
3.5 |
3.6 |
2.4 |
2.2 |
|
Depreciation |
0.9 |
0.6 |
0.2 |
0.2 |
0.3 |
|
Amort. of Intangibless |
0.0 |
0.0 |
- |
- |
- |
|
Rental Income |
0.0 |
- |
- |
- |
- |
|
Rec. of Allow. for DA |
0.0 |
- |
- |
- |
- |
|
Expense of Allow. for DA |
- |
- |
0.0 |
- |
0.1 |
|
Retirement and Severance Benefits |
0.3 |
0.3 |
0.3 |
0.3 |
0.2 |
|
Corporate Taxes Expense |
0.9 |
0.6 |
0.7 |
- |
- |
|
Interest Expenses |
0.3 |
0.3 |
0.2 |
- |
- |
|
Losses on Foreign Currency Translation |
0.1 |
0.0 |
- |
0.0 |
0.0 |
|
Losses on Sale of Trade Receivable |
- |
- |
- |
0.0 |
0.2 |
|
Losses on Valt of Inventories |
0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Loss on Valt of Non-Current Fincl Instrm |
0.0 |
0.0 |
- |
- |
- |
|
Reversal of Allowance for Doubtful Accou |
- |
- |
- |
0.0 |
- |
|
Gains on Foreign Currency Translation |
0.0 |
- |
- |
0.0 |
-0.1 |
|
Interest Income |
0.0 |
0.0 |
0.0 |
- |
- |
|
Gain-Valu. of LT Financial Assets |
- |
- |
- |
0.0 |
- |
|
Gain on Valt of Non-Current Fincl Instrm |
0.0 |
- |
0.0 |
- |
- |
|
Gains on Sale of Property, Plant and Equ |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Trade Receivables |
-0.7 |
-4.2 |
-3.7 |
-4.2 |
-1.1 |
|
Account Receivables |
-0.2 |
0.4 |
-0.3 |
0.0 |
0.0 |
|
Prepaid Expenses |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Advance Payments |
0.5 |
-0.7 |
0.1 |
0.0 |
0.4 |
|
Accrued Income |
- |
- |
0.0 |
0.0 |
0.0 |
|
Decrease or Increase in Inventories |
- |
- |
- |
-0.3 |
-2.8 |
|
Finished Goods |
0.0 |
-0.4 |
-1.6 |
- |
- |
|
Merchandise |
0.0 |
0.0 |
0.0 |
- |
- |
|
Work in Progress |
0.0 |
0.0 |
0.0 |
- |
- |
|
Raw Material |
-2.2 |
-3.5 |
-0.3 |
- |
- |
|
Supplemental Materials |
0.0 |
0.0 |
-0.1 |
- |
- |
|
Goods in Transit |
1.1 |
-0.8 |
0.5 |
- |
- |
|
Current Loans |
0.2 |
0.1 |
-0.3 |
- |
- |
|
Decrease or Increase in Deferred Income |
- |
- |
- |
0.0 |
0.0 |
|
Trade Payable |
-0.6 |
0.4 |
-1.1 |
3.8 |
-0.9 |
|
Account Payable |
-0.3 |
-0.1 |
0.6 |
-0.3 |
0.7 |
|
Accrued Expenses |
0.2 |
-0.1 |
0.1 |
0.0 |
0.0 |
|
Increase or Decrease in Income Taxes Pay |
- |
- |
- |
-0.2 |
0.1 |
|
Deferred Income Taxes Liabilities |
- |
- |
- |
0.0 |
- |
|
Advance from Customers |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Unearned Income |
0.0 |
0.0 |
- |
- |
- |
|
Withholdings |
0.0 |
0.0 |
0.0 |
-0.2 |
0.2 |
|
Payment for Retirement Allow. |
0.0 |
-0.3 |
-0.6 |
-0.1 |
0.0 |
|
Retirement Pension Operating Fund |
- |
- |
- |
-0.1 |
-0.2 |
|
Plan Assets |
-0.1 |
0.0 |
0.2 |
- |
- |
|
Cash-Tax Refunded |
0.0 |
- |
- |
- |
- |
|
Other Cash Flow |
0.0 |
- |
- |
- |
- |
|
Other Cash Flow from Operating Activitie |
0.0 |
- |
- |
- |
- |
|
Adj. for Cash Flow from Operations |
0.0 |
- |
0.0 |
- |
- |
|
Cash-Interest Received |
0.0 |
0.0 |
0.0 |
- |
- |
|
Cash-Interest Paid |
-0.3 |
-0.3 |
-0.2 |
- |
- |
|
Cash-Tax Paid |
-0.7 |
-0.6 |
-0.3 |
- |
- |
|
Cash from Operating Activities |
4.6 |
-4.7 |
-1.8 |
1.3 |
-0.6 |
|
|
|
|
|
|
|
|
Increase in Guarantee Deposit |
0.0 |
- |
- |
- |
- |
|
Decrease in Rental Guarantee Depsoits |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Decrease in Other Guarantee Deposit |
0.0 |
0.0 |
- |
- |
- |
|
Proceeds from Sale of Short-term Financi |
- |
- |
0.0 |
- |
- |
|
Proceeds from Sale of Property Plant and |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Increase in Rent Guarantee Deposit |
0.0 |
-0.1 |
- |
- |
- |
|
Increase in Other Guarantee Deposit |
0.0 |
0.0 |
- |
- |
- |
|
Increase in Deposits Provided |
- |
- |
- |
0.0 |
0.0 |
|
Purchase of Invmt in Affiliates |
0.0 |
- |
- |
- |
- |
|
Purchase of Short-term Financial Instrum |
- |
- |
- |
- |
0.0 |
|
Purchase of Non-Current Fincl Instrm |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Purchase of Tangibles |
-2.3 |
-3.2 |
-7.2 |
-0.5 |
-0.1 |
|
Purchase of Intangibless |
-0.3 |
-0.2 |
- |
- |
- |
|
Cash from Investing Activities |
-2.6 |
-3.4 |
-7.2 |
-0.5 |
-0.1 |
|
|
|
|
|
|
|
|
Increase in Treasury Stocks |
0.0 |
- |
- |
- |
- |
|
Increase in Current Borrowings |
5.2 |
11.8 |
- |
- |
0.6 |
|
Proceeds from Long-term Borrowings |
- |
- |
- |
- |
0.7 |
|
Commission of Scrip Issue |
0.0 |
- |
- |
- |
- |
|
Increase-Subsidy from Government |
- |
- |
- |
0.0 |
- |
|
Rights Issue |
- |
- |
10.4 |
- |
0.4 |
|
Decrease in Current Borrowings |
-7.3 |
-3.6 |
-1.6 |
-0.3 |
-0.3 |
|
Decs in Current Portion of LT Borrowings |
- |
- |
-0.2 |
- |
- |
|
Repayments of Long-term Borrowings |
- |
- |
- |
-0.1 |
- |
|
Dec-Current Portion of LT Borrowings |
- |
- |
- |
- |
-0.3 |
|
Dividend Paid |
-0.5 |
-0.2 |
- |
- |
-0.3 |
|
Increase-Discount on Stock Issuance |
- |
- |
- |
- |
0.0 |
|
Increase in Rental Guarantee Deposit |
0.0 |
0.1 |
- |
- |
- |
|
Cash from Financing Activities |
-2.6 |
8.2 |
8.6 |
-0.3 |
0.8 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
- |
- |
- |
- |
|
Incs or Decs in Cash & Cash Equivalents |
-0.6 |
0.1 |
-0.3 |
0.5 |
0.1 |
|
|
|
|
|
|
|
|
Cash and Cash Equivalents at Beginning |
0.6 |
0.5 |
0.8 |
0.2 |
0.1 |
|
Cash and Cash Equivalents at End |
0.0 |
0.6 |
0.5 |
0.7 |
0.2 |
|
Cash Interest Paid |
0.3 |
0.3 |
0.2 |
- |
- |
|
Cash Taxes Paid |
0.7 |
0.6 |
0.3 |
- |
- |
Financial Health
Financials in: USD (mil)
Except for share items (millions) and per
share items (actual units)
|
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Annual Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.24 |
|
|
1 |
Rs.102.17 |
|
Euro |
1 |
Rs.84.82 |
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.