|
Report Date : |
03.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
KYUNG KEE COLOR CO., LTD. |
|
|
|
|
Registered Office : |
526, Eulsukdo-daero, Saha-gu, Busan, Korea |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
11.09.1978 |
|
|
|
|
Com. Reg. No.: |
603-81-00303 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Manufacture of Synthetic Colouring Matter, Tanning Materials
and Other Coloring Agents |
|
|
|
|
No. of Employees |
40 |
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 : |
Slow but correct |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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. South 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. South 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-Korea Free Trade Agreement was ratified by both governments in 2011 and went into effect in March 2012. Throughout 2012 and 2013 the economy experienced sluggish growth because of market slowdowns in the United States, China, and the Eurozone. The administration in 2014 is likely to face the challenge 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, dominance of large conglomerates (chaebols), and heavy reliance on exports, which comprise about half of GDP
|
Source
: CIA |
Basic
|
Company Name |
KYUNG KEE COLOR CO., LTD. (Korean Company Name : “(주)경기색소”) |
|
Registered
Address |
526, Eulsukdo-daero, Saha-gu, Busan, Korea (Old Address System : 370-39, Sinpyeong 1-dong, Saha-gu, Busan, Korea) |
|
Building |
|
|
Zip Code |
604-836 |
|
Tel |
+82-51-291-0265 |
|
Fax |
+82-51-203-0178 |
|
E-mail |
kkc@kkc.co.kr;kkccokr@choi.com |
|
Website |
www.kkc.co.kr |
|
Trading Address |
Rm.402, Goyang Bldg., 1465-24, Gwanyang-dong, Dongan-gu, Anyang-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-421-1081 |
|
Fax |
+82-31-421-7963 |
|
Other Address |
|
|
Tel |
|
|
Fax |
|
|
Type |
Export/Import |
|
Industry |
Manufacture of Synthetic Colouring Matter, Tanning
Materials and Other Coloring Agents |
|
Main Business |
Inorganic Pigment, Organic Pigment |
|
Sub Business |
|
|
Established
(mm/dd/yyyy) |
09/11/1978 |
The Subject owns
the premises of registered HQ address.
Detailed Products
|
Activity |
Detailed
Products (UNSPSC) |
|
Sell |
Organic pigments(12171605) |
|
Sell |
Inorganic metal oxides(12171602) |
|
Buy |
Inorganic acids(12352301) |
|
Buy |
Batch mixers(23191000) |
|
Buy |
Paints and primers(31211500) |
CEO’s
|
Name |
Kim Chun-Ok |
|
Address |
Suite
312-1502, 1634, Dadae-dong, Saha-gu, Busan, Korea |
|
Date of Birth |
04/22/1952 |
|
Title |
President
& CEO |
|
Sex |
Female |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
2,700,000,000 |
|||||||||||||||||||||
|
Employees |
42 |
|||||||||||||||||||||
|
Formation |
Co., Ltd by shares |
|||||||||||||||||||||
|
Bank Details |
Busan
Bank-Shinpyung Dong Branch Industrial
Bank of Korea Korea Exchange
Bank |
|||||||||||||||||||||
|
Corporate
Registered No. |
180111-0031409 |
|||||||||||||||||||||
|
Business
Registered No. |
603-81-00303 |
|||||||||||||||||||||
|
Permit &
Licenses |
12/17/2004 ISO 9001:2000 Int’l Trade No.: 979069 |
|||||||||||||||||||||
|
Shareholder
Position |
|
|||||||||||||||||||||
|
Company
History |
01/1970 Established as KYUNGKEE COLOR CO. 09/11/1978 Incorporated as the present name |
|||||||||||||||||||||
|
|
|
Management
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
President & CEO |
M/S. |
Kim Chun-Ok |
Female |
Korean |
10/15/2007 |
|
Director |
Mr. |
Hwang Do-Young |
Male |
Korean |
03/20/2009 |
|
Director |
Mr. |
Kim Yeo-San |
Male |
Korean |
03/20/2009 |
|
Auditor |
Mr. |
Kim Yeo-Cheon |
Male |
Korean |
03/20/2009 |
|
Year / Unit :
KRW |
Sales |
Assets |
Net Income |
|
15,789,108,863 |
22,828,968,087 |
120,582,019 |
|
|
2012 |
17,806,019,345 |
23,205,003,744 |
120,058,324 |
|
2011 |
17,411,595,889 |
20,815,070,575 |
145,010,682 |
|
2010 |
13,392,979,052 |
21,189,736,163 |
-440,776,385 |
|
2009 |
11,252,659,561 |
17,522,346,798 |
82,166,836 |
|
2008 |
15,164,990,521 |
16,586,607,998 |
106,188,045 |
|
2007 |
9,573,240,017 |
13,175,114,902 |
-651,408,077 |
|
2006 |
10,415,270,714 |
12,605,778,262 |
124,723,297 |
|
2005 |
14,500,932,549 |
11,951,955,979 |
223,639,500 |
|
2004 |
15,003,236,819 |
10,917,544,527 |
421,973,653 |
Financial Description
|
Authorized
Capital(KRW) |
4,000,000,000 |
|
Paid-Up Capital(KRW) |
2,700,000,000 |
|
Total Issued
Shares |
540,000 |
|
Balance Sheet |
|||
|
Unit : Korean
Won |
As of
12/31/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Total Assets |
22,828,968,087 |
23,205,003,744 |
20,815,070,575 |
|
Current Assets |
12,534,666,901 |
13,665,762,658 |
13,619,498,286 |
|
-Quick Assets |
2,966,494,257 |
3,881,942,383 |
3,668,275,617 |
|
-Inventories |
9,568,172,644 |
9,783,820,275 |
9,951,222,669 |
|
Fixed Assets |
10,294,301,186 |
9,539,241,086 |
7,195,572,289 |
|
-Investment |
208,282,886 |
271,563,934 |
385,150,355 |
|
-Tangibles |
8,805,345,033 |
8,329,068,338 |
6,383,641,602 |
|
-Intangibles |
1,243,246,067 |
836,181,614 |
402,095,132 |
|
-Others |
37,427,200 |
102,427,200 |
24,685,200 |
|
Total
Liabilities |
14,440,988,887 |
14,937,606,563 |
12,667,731,718 |
|
Current
Liabilities |
10,326,024,592 |
10,961,644,284 |
10,698,425,906 |
|
Fixed
Liabilities |
4,114,964,295 |
3,975,962,279 |
1,969,305,812 |
|
Capital Stock |
2,700,000,000 |
2,700,000,000 |
2,700,000,000 |
|
Capital
Surplus |
200,256,082 |
200,256,082 |
200,256,082 |
|
Profit Surplus |
2,926,447,748 |
2,805,865,729 |
2,685,807,405 |
|
Capital
Adjustment |
2,561,275,370 |
2,561,275,370 |
2,561,275,370 |
|
Total Equity |
8,387,979,200 |
8,267,397,181 |
8,147,338,857 |
|
Liab. &
Shareholder’s Equity |
22,828,968,087 |
23,205,003,744 |
20,815,070,575 |
|
Current
Liabilities |
10,326,024,592 |
10,961,644,284 |
10,698,425,906 |
|
Trade Payables |
2,269,566,646 |
2,543,669,590 |
2,539,339,918 |
|
Short-Term Borrowings |
4,661,011,191 |
4,387,113,121 |
3,990,000,000 |
|
Short-Term Borrowings-Foreign Currency |
1,129,656,438 |
1,794,748,013 |
1,215,751,195 |
|
Account Payables |
690,548,644 |
678,075,202 |
758,669,060 |
|
Withholdings |
21,929,318 |
25,535,728 |
21,630,661 |
|
Accrued Expenses |
7,670,692 |
13,388,979 |
13,013,365 |
|
Advance Receipts |
1,000,000 |
75,148,000 |
1,000,000 |
|
Accrued Income Tax |
12,289,400 |
10,231,100 |
17,621,410 |
|
Current Portion of Long-Term Debts |
219,087,641 |
385,828,329 |
269,596,635 |
|
Short-Term Borrowings to Shareholders/ Executives/
Employees |
1,313,264,622 |
1,047,906,222 |
1,871,803,662 |
|
Fixed
Liabilities |
4,114,964,295 |
3,975,962,279 |
1,969,305,812 |
|
Long-Term Borrowings |
3,654,599,000 |
3,582,012,688 |
1,620,901,517 |
|
Provision for Severance & Retirement |
733,366,279 |
630,089,272 |
557,950,755 |
|
Leasehold Deposit Received |
61,000,000 |
61,000,000 |
59,000,000 |
|
Income Statement |
|||
|
Unit : Korean
Won |
As of
12/31/2013 |
As of 12/31/2012 |
As of
12/31/2011 |
|
Sales |
15,789,108,863 |
17,806,019,345 |
17,411,595,889 |
|
Cost of Sold
Goods |
13,423,173,525 |
15,155,353,525 |
14,886,524,558 |
|
Gross Profit |
2,365,935,338 |
2,650,665,820 |
2,525,071,331 |
|
Selling & Admin.
Expenses |
1,903,207,253 |
2,082,942,324 |
2,001,295,903 |
|
Operating
Income |
462,728,085 |
567,723,496 |
523,775,428 |
|
Non-Operating
Income |
479,561,829 |
400,999,670 |
669,532,679 |
|
Non-Operating
Expenses |
800,760,715 |
827,528,692 |
1,025,440,835 |
|
Income Before
Taxes |
141,529,199 |
141,194,474 |
167,867,272 |
|
Income Taxes
Expenses |
20,947,180 |
21,136,150 |
22,856,590 |
|
Net Income |
120,582,019 |
120,058,324 |
145,010,682 |
|
Cash Flows |
|||
|
Unit : Korean
Won |
As of 12/31/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Cash Flows
from Operating |
1,524,256,408 |
373,201,394 |
1,795,002,738 |
|
-Net Income |
120,582,019 |
120,058,324 |
145,010,682 |
|
-Exp. without
Cash Outflow |
865,382,455 |
707,757,295 |
750,955,531 |
|
-Revenue
without Cash Inflows |
-129,141,283 |
-180,762,950 |
-159,874,292 |
|
-Changes in
Asset/ & Liability |
667,433,217 |
-273,851,275 |
1,058,910,817 |
|
Cash Flows
from Investing |
-1,466,556,834 |
-2,891,655,801 |
-1,118,174,048 |
|
-Cash Inflow from
Investing |
388,440,848 |
505,955,335 |
149,329,139 |
|
-Cash Outflows
for Investing |
-1,854,997,682 |
-3,397,611,136 |
-1,267,503,187 |
|
Cash Flows
from Financing |
-106,913,251 |
2,379,531,118 |
-491,407,296 |
|
-Cash Inflows
from Financing |
8,548,116,804 |
8,160,720,719 |
7,265,170,335 |
|
-Cash Outflows
from Financing |
-8,655,030,055 |
-5,781,189,601 |
-7,756,577,631 |
|
Increase/Decrease
in Cash |
-49,213,677 |
-138,923,289 |
185,421,394 |
|
Cash at the
Beginning of Year |
51,661,966 |
190,585,255 |
5,163,861 |
|
Cash at the
End of Year |
2,448,289 |
51,661,966 |
190,585,255 |
Products,
Technologies, Services Description
|
Main Products
& Services |
Inorganic Pigment, Organic Pigment |
|
Detailed
Products Spec. |
|
|
Technologies Acquired |
|
Trade Partners &
Competitors
|
Suppliers |
|
|
Customers |
|
|
Competitors |
UKSEUNG
CHEMICAL CO., LTD. 155-8,
HOEDONG-DONG, GEUMJEONG-GU, BUSAN, KOREA TEL:+82-51-523-1515 FAX:+82-51-529-7272 WOOSHIN
PIGMENT CO., LTD. 117-4, GWANGCHEON-RI,
SUNSEONG-MYEON, DANGJIN-GUN, CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-352-7976 FAX:+82-41-352-2401 FIRST COLOR
CO., LTD. 1RA-102, SIHWA
INDUSTRIAL COMPLEX, 1236-1, JEONGWANG 3-DONG, SIHEUNG-SI, GYEONGGI-DO, KOREA TEL:+82-31-432-6900 FAX:+82-31-432-6328 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
KOTEC PLASTIC
CORP. |
|
Overseas
Office |
|
|
Liaison Office |
|
|
Overseas
Branch |
|
|
Joint Venture |
|
|
Subsidiary |
KYUNGKEE
PHILIPPINES CORP.(PHILIPPINE) (100.0% held
by the subject company) |
|
Corporate
Ownership |
|
|
Major
Shareholders |
|
|
Cooperative
Enterprise |
-Insured
Company HYUNDAI MARINE & FIRE INSURANCE CO., LTD.(110111-0035893) MERITZ FIRE & MARINE INSURANCE CO., LTD.(110111-0013328) GREEN NON-LIFE INSURANCE CO., LTD.(110111-0007082) |
Sales by Region
(Activity & Markets)
The Subject
deals with the companies in Canada, China, Japan, Philippine and USA.
Court Action
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.97 |
|
|
1 |
Rs.102.90 |
|
Euro |
1 |
Rs.82.02 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
|
41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.