|
Report Date : |
05.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
KUKDONG ELECOM CO., LTD. |
|
|
|
|
Registered Office : |
1509-12, Dadae 1-dong, Saha-gu, Busan, Korea |
|
|
|
|
Country : |
Korea (South) |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
11.02.1992 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares Venture Business |
|
|
|
|
Line of Business : |
Manufacture of Lighting Equipment for Transportation Fixture |
|
|
|
|
No. of Employees : |
125 |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Korea (South) |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
KOREA (SOUTH) - ECONOMIC OVERVIEW
South Korea over the past four decades has demonstrated incredible growth and global integration to become a high-tech industrialized economy. In the 1960s, GDP per capita was comparable with levels in the poorer countries of Africa and Asia. In 2004, South Korea joined the trillion-dollar club of world economies, and is currently the world's 12th largest economy. Initially, a system of close government and business ties, including directed credit and import restrictions, made this success possible. The government promoted the import of raw materials and technology at the expense of consumer goods, and encouraged savings and investment over consumption. The Asian financial crisis of 1997-98 exposed longstanding weaknesses in South Korea's development model including high debt/equity ratios and massive short-term foreign borrowing. GDP plunged by 6.9% in 1998, and then recovered by 9% in 1999-2000. 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 |
KUKDONG ELECOM CO., LTD. |
|
Registered Address |
1509-12, Dadae 1-dong, Saha-gu, Busan, Korea |
|
Zip Code |
604-826 |
|
Tel |
+82-51-266-0050 |
|
Fax |
+82-51-265-0985 |
|
E-mail |
kdecom@kukdongelecom.com |
|
Website |
www.kdkorea.net |
|
Trading Address |
128, Dasan-ro, Saha-gu, Busan, Korea (Old Address System : 1509-12, Dadae 1-dong, Saha-gu, Busan, Korea) |
|
Tel |
+82-51-266-0050 |
|
Fax |
+82-51-265-0985 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Lighting Equipment for Transportation Fixture |
|
Main Business |
Marine Light Fixture, Explosion Light, Flood Light, Reefer Container
Socket, Industrial Light, Working Light |
|
Sub
Business |
Manufacture of Metal Structural Components |
|
Established (mm/dd/yyyy) |
02/11/1992 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Interior lighting and fixtures(39111500) |
|
Sell |
Electrical cable and accessories(26121600) |
|
Sell |
Power supply units(39121004) |
|
Sell |
Emergency lighting(39111700) |
CEO’s
|
Name |
Lee Jong-Ki |
|
Address |
Suite 103-1701, 23, Haemaji-ro,
Busanjin-gu, Busan, Korea |
|
Date of Birth |
07/05/1955 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
2,000,000,000 |
||||||||||||
|
Employees |
125 |
||||||||||||
|
Formation |
Co., Ltd by Shares Venture Business |
||||||||||||
|
Bank Details |
Woori Bank Industrial Bank of Korea Korea Exchange Bank Shinhan Bank-Shinpyung Corporate Branch |
||||||||||||
|
Corporate Registered No. |
180111-0122901 |
||||||||||||
|
Business Registered No. |
603-81-24270 |
||||||||||||
|
Permit & Licenses |
10/1999 ISO 9001 04/29/2002 ISO 9001 09/04/2003 KS Mark 06/25/2007 ISO 14001 Int’l Trade No.: 12016255 |
||||||||||||
|
Shareholder Position |
|
||||||||||||
|
Company History |
02/11/1992 Incorporated as KUKDONG CABLE
SALES CO., LTD. 06/1996 Changed company name to KUKDONG
CABLE INDUSTRIES CO., LTD. 02/29/2000 Changed company name to the
present name 04/28/2008 Designated as a Venture Business 12/15/2008 Increased the authorized shares
to 800,000 shares from 500,000 shar4es 12/16/2008 Increased capital to
2,00,000,000 KRW from 1,500,000,000 KRW 04/14/2014 Designated as a Venture Business
again |
||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lee Jong-Ki |
Male |
Korean |
03/31/2005 |
|
Director |
M/S. |
Kim In-Sook |
Female |
Korean |
03/31/2005 |
|
Director |
Mr. |
Lee Sang-Min |
Male |
Korean |
03/31/2008 |
|
Auditor |
M/S. |
Lee Hyun-Joo |
Female |
Korean |
03/31/2008 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2013 |
31,086,215,449 |
39,567,179,313 |
862,849,694 |
|
2012 |
30,529,573,438 |
33,945,734,951 |
708,866,755 |
|
2011 |
30,254,093,967 |
29,968,946,075 |
717,715,924 |
|
2010 |
29,985,011,269 |
27,980,312,217 |
996,290,268 |
|
2009 |
26,934,822,601 |
24,475,463,506 |
675,445,880 |
Financial
Description
|
Authorized Capital(KRW) |
4,000,000,000 |
|
Paid-Up Capital(KRW) |
2,000,000,000 |
|
Total Issued Shares |
400,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Total Assets |
39,567,179,313 |
33,945,734,951 |
29,968,946,075 |
|
Current Assets |
15,651,384,497 |
11,204,159,850 |
10,669,625,815 |
|
-Quick Assets |
8,839,240,904 |
5,449,519,636 |
5,142,472,482 |
|
-Inventories |
6,812,143,593 |
5,754,640,214 |
5,527,153,333 |
|
Fixed Assets |
23,915,794,816 |
22,741,575,101 |
19,299,320,260 |
|
-Investment |
5,185,409,592 |
5,254,378,562 |
4,116,649,450 |
|
-Tangibles |
14,203,281,675 |
13,747,643,365 |
12,030,407,711 |
|
-Intangibles |
4,167,593,549 |
3,483,216,174 |
2,931,226,099 |
|
-Others |
359,510,000 |
256,337,000 |
221,037,000 |
|
Total Liabilities |
30,121,764,544 |
25,363,169,876 |
22,095,247,755 |
|
Current Liabilities |
25,691,003,188 |
22,419,462,392 |
19,964,347,008 |
|
Fixed Liabilities |
4,430,761,356 |
2,943,707,484 |
2,130,900,747 |
|
Capital Stock |
2,000,000,000 |
2,000,000,000 |
2,000,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
5,294,766,531 |
4,431,916,837 |
3,723,050,082 |
|
Capital Adjustment |
2,150,648,238 |
2,150,648,238 |
2,150,648,238 |
|
Total Equity |
9,445,414,769 |
8,582,565,075 |
7,873,698,320 |
|
Liab. & Shareholder’s Equity |
39,567,179,313 |
33,945,734,951 |
29,968,946,075 |
|
Current Liabilities |
25,691,003,188 |
22,419,462,392 |
19,964,347,008 |
|
Trade Payables |
4,238,356,868 |
4,836,555,206 |
5,532,376,602 |
|
Short-Term Borrowings |
18,373,516,172 |
15,195,702,774 |
12,265,905,334 |
|
Account Payables |
387,256,078 |
491,140,046 |
454,891,871 |
|
Advance Receipts |
10,120,307 |
6,623,720 |
29,118,014 |
|
Withholdings |
46,758,115 |
54,913,070 |
72,922,490 |
|
Accrued Expenses |
348,941,291 |
241,760,250 |
242,212,020 |
|
Deferred Income Tax |
26,099,761 |
63,207,326 |
45,280,677 |
|
Current Portion of Long-Term Debts |
2,259,954,596 |
1,529,560,000 |
1,321,640,000 |
|
Current Liabilities |
4,430,761,356 |
2,943,707,484 |
2,130,900,747 |
|
Long-Term Borrowings |
3,916,990,932 |
2,441,387,294 |
1,558,210,000 |
|
Leasehold Deposit Received |
40,000,000 |
40,000,000 |
40,000,000 |
|
Provision for Severance & Retirement |
1,273,638,626 |
1,273,340,391 |
1,238,928,679 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Sales |
31,086,215,449 |
30,529,573,438 |
30,254,093,967 |
|
Cost of Sold Goods |
24,542,737,642 |
24,125,374,562 |
23,570,887,179 |
|
Gross Profit |
6,543,477,807 |
6,404,198,876 |
6,683,206,788 |
|
Selling & Admin. Expenses |
4,310,122,505 |
4,411,630,582 |
5,038,456,133 |
|
Operating Income |
2,233,355,302 |
1,992,568,294 |
1,644,750,655 |
|
Non-Operating Income |
284,313,385 |
185,411,680 |
250,353,856 |
|
Non-Operating Expenses |
1,582,190,461 |
1,377,354,084 |
1,090,177,124 |
|
Income Before Taxes |
935,478,226 |
800,625,890 |
804,927,387 |
|
Income Taxes Expenses |
72,628,532 |
91,759,135 |
87,211,463 |
|
Net Income |
862,849,694 |
708,866,755 |
717,715,924 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Cash Flows from Operating |
-1,811,005,491 |
652,991,649 |
1,249,419,215 |
|
-Net Income |
862,849,694 |
708,866,755 |
717,715,924 |
|
-Exp. without Cash Outflow |
2,426,857,355 |
2,128,110,869 |
1,774,962,319 |
|
-Revenue without Cash Inflows |
- |
-1,452,545 |
- |
|
-Changes in Asset/ & Liability |
-5,100,712,540 |
-2,182,533,430 |
-1,243,259,028 |
|
Cash Flows from Investing |
-4,065,339,198 |
-5,326,309,565 |
-3,357,427,644 |
|
-Cash Inflow from Investing |
990,119,070 |
152,684,382 |
1,022,135,078 |
|
-Cash Outflows for Investing |
-5,055,458,268 |
-5,478,993,947 |
-4,379,562,722 |
|
Cash Flows from Financing |
5,453,236,247 |
4,243,887,777 |
2,146,798,016 |
|
-Cash Inflows from Financing |
22,200,904,038 |
17,853,471,668 |
13,020,068,241 |
|
-Cash Outflows from Financing |
-16,747,667,791 |
-13,609,583,891 |
-10,873,270,225 |
|
Increase/Decrease in Cash |
423,108,442 |
429,430,139 |
38,789,587 |
|
Cash at the Beginning of Year |
653,736,745 |
1,083,166,884 |
1,044,377,297 |
|
Cash at the End of Year |
230,628,303 |
653,736,745 |
1,083,166,884 |
Products,
Technologies, Services Description
|
Main Products & Services |
Marine Light Fixture, Explosion Light, Flood Light, Reefer Container
Socket, Industrial Light, Working Light |
Trade Partners
& Competitors
|
Suppliers |
DAIRYEN KUKDONG OPTIC ELECTRONICS CO., LTD.(CHINA) |
|
Customers |
KESCOM CO., LTD.(KOREA) DAIRYMEN KUKDONG SHIP LIGHTINGS CO., LTD.(CHINA) |
|
Competitors |
SL SEOBONG CORPORATION 50-8, OMOK-RI, SEONGGEO-EUP, SEOBUK-GU,
CHEONAN-SI, CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-555-8511 FAX:+82-41-555-4947 HSL ELECTRONICS CO., LTD. 10, SEONGSEO4CHACHEOMDAN-RO, DALSEO-GU,
DAEGU, KOREA TEL:+82-53-589-8505 FAX:+82-53-589-8598 JUNGBOK CO., LTD. 125-9, DANGGOK-RI, JILLYANG-EUP,
GYEONGSAN-SI, GYEONGSANGBUK-DO, KOREA TEL:+82-53-854-5600 FAX:+82-53-857-0459 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
KESCOM CO., LTD.(KOREA) DAIRYMEN KUKDONG SHIP LIGHTINGS CO., LTD.(CHINA) DAIRYEN KUKDONG OPTIC ELECTRONICS CO., LTD.(CHINA) |
|
Cooperative Enterprise |
-Insured Company SAMSUNG FIRE & MARINE INSURANCE CO., LTD.(110111-0005078) |
Sales by Region
(Activity & Markets)
The Subject deals with Japan and China.
Not Available
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.79 |
|
|
1 |
Rs.102.66 |
|
Euro |
1 |
Rs.81.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.