|
Report Date : |
05.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
STEEL N PEOPLE CO., LTD. |
|
|
|
|
Registered Office : |
159-1, Samseong 1-dong, Gangnam-gu, Seoul, Korea |
|
|
|
|
Country : |
Korea (South) |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
04.01.2008 |
|
|
|
|
Com. Reg. No.: |
220-87-60199 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
·
engaged in Bulky
Supply of various High-Quality Steel
Products ·
Wholesaler
of Basic Metals Subject product line are as follows: ·
Slab ·
Bloom ·
Billet ·
Beam Blank ·
Hr Coils & Sheets ·
Hr Plates ·
Hr Stainless Plates ·
Cr Stainless Plates ·
Erw / Hfw Pipes ·
Saw Pipes(Roll Bending) ·
Saw Pipes (Press Bending) ·
Spiral Pipes ·
Stainless Pipes ·
Seamless Pipes ·
Hollow Sections ·
Beams ·
Angles & Channels ·
Piles ·
Bars ·
Wire Rods · Fittings & Flange |
|
|
|
|
No. of Employees : |
10 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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 |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
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. 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 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,
and heavy reliance on exports - which comprise about half of GDP.
|
Source
: CIA |
Basic
|
Company Name |
STEEL N PEOPLE CO., LTD. (Trade Name : SNP) |
|
Registered Address |
159-1, Samseong 1-dong, Gangnam-gu, Seoul, Korea |
|
Building |
Rm. 2103, Korea Trade Tower |
|
Zip Code |
135-729 |
|
Tel |
+82-2-508-4860 |
|
Fax |
+82-2-6442-4860 |
|
E-mail |
|
|
Website |
|
|
Trading Address |
Rm. 2103, Korea Trade Tower, 511, Yeongdong-daero, Gangnam-gu, Seoul,
Korea (Old Address System : Rm. 2103, Korea Trade Tower, 159-1, Samseong 1-dong,
Gangnam-gu, Seoul, Korea) |
|
Tel |
+82-2-508-4860 |
|
Fax |
+82-2-6442-4860 |
|
Type |
Export/Import |
|
Main Business |
·
engaged in Bulky
Supply of various High-Quality Steel
Products ·
Wholesaler
of Basic Metals |
|
Established (mm/dd/yyyy) |
01/04/2008 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Steel plate(30102204) |
|
Sell |
Steel(11101704) |
|
Sell |
Steel pilings(30102803) |
CEO’s
|
Name |
Lee Kyu-Wook |
|
Address |
Suite 909-703, 156, Dongpangyo-ro, Bundang-gu,
Seongnam-si, Gyeonggi-do, Korea |
|
Date of Birth |
02/13/1971 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
1,000,000,000 |
|||||||||||||||
|
Employees |
10 |
|||||||||||||||
|
Formation |
Co., Ltd by Shares |
|||||||||||||||
|
Bank Details |
Busan Bank-Gangnam Branch |
|||||||||||||||
|
Corporate Registered No. |
110111-3817165 |
|||||||||||||||
|
Business Registered No. |
220-87-60199 |
|||||||||||||||
|
Permit & Licenses |
Int’l Trade No.: 45339598 |
|||||||||||||||
|
Shareholder Position |
|
|||||||||||||||
|
Company History |
01/04/2008 Incorporated as the present name 01/04/2010 Moved to the present HQ address
from Rm.601, 143-48, Samseong-dong, Gangnam-gu, Seoul, Korea 03/31/2010 Increased the authorized shares
to 1,000,000 shares from 80,000 shares 04/16/2010 Increased capital to
1,000,000,000 KRW from 750,000,000 KRW |
|||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lee Kyu-Wook |
Male |
Korean |
11/21/2011 |
|
Director |
M/S. |
Lee Soon-Nam |
Female |
Korean |
07/18/2011 |
|
Director |
Mr. |
Kim Seung-Han |
Male |
Korean |
03/31/2013 |
|
Auditor |
Mr. |
Kim Keon-Woo |
Male |
Korean |
03/31/2013 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2012 |
82,826,074,288 |
8,539,751,246 |
147,449,292 |
|
2011 |
190,106,484,018 |
14,588,928,150 |
2,132,705,874 |
|
2010 |
171,022,479,259 |
27,893,254,093 |
2,127,381,305 |
|
2009 |
60,538,480,944 |
12,510,350,456 |
815,839,352 |
|
2008 |
|
|
|
Financial
Description
|
Authorized Capital(KRW) |
5,000,000,000 |
|
Paid-Up Capital(KRW) |
1,000,000,000 |
|
Total Issued Shares |
200,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Total Assets |
8,539,751,246 |
14,588,928,150 |
27,893,254,093 |
|
Current Assets |
7,317,804,620 |
13,474,466,802 |
26,729,245,657 |
|
-Quick Assets |
6,852,515,250 |
10,386,357,371 |
12,133,009,799 |
|
-Inventories |
465,289,370 |
3,088,109,431 |
14,596,235,858 |
|
Fixed Assets |
1,221,946,626 |
1,114,461,348 |
1,164,008,436 |
|
-Investment |
944,343,857 |
789,509,803 |
708,092,462 |
|
-Tangibles |
62,861,734 |
111,847,044 |
259,225,273 |
|
-Intangibles |
38,133,334 |
- |
196,690,701 |
|
-Others |
176,607,701 |
213,104,501 |
|
|
Total Liabilities |
1,857,560,585 |
8,054,186,781 |
23,491,218,598 |
|
Current Liabilities |
1,857,560,585 |
8,054,186,781 |
23,491,218,598 |
|
Fixed Liabilities |
- |
- |
- |
|
Capital Stock |
1,000,000,000 |
1,000,000,000 |
1,000,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
5,682,190,661 |
5,534,741,369 |
3,415,972,395 |
|
Capital Adjustment |
|
|
-13,936,900 |
|
Total Equity |
6,682,190,661 |
6,534,741,369 |
4,402,035,495 |
|
Liab. & Shareholder’s Equity |
8,539,751,246 |
14,588,928,150 |
27,893,254,093 |
|
Current Liabilities |
1,857,560,585 |
8,054,186,781 |
23,491,218,598 |
|
Trade Payables |
1,772,393,727 |
7,509,617,026 |
15,372,740,179 |
|
Account Payables |
66,293,152 |
44,593,427 |
286,039,484 |
|
Advance Receipts |
- |
86,064,265 |
7,108,146,767 |
|
Withholdings |
8,058,655 |
27,712,724 |
47,533,070 |
|
Accrued Expenses |
10,815,051 |
20,993,965 |
39,643,049 |
|
Accrued Income Tax |
- |
365,205,374 |
628,446,347 |
|
Short-Term Borrowings to Shareholders/ Executives/ Employees |
- |
- |
8,669,702 |
|
Fixed Liabilities |
- |
- |
- |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Sales |
82,826,074,288 |
190,106,484,018 |
171,022,479,259 |
|
Cost of Sold Goods |
79,012,685,307 |
181,862,655,188 |
163,817,636,768 |
|
Gross Profit |
3,813,388,981 |
8,243,828,830 |
7,204,842,491 |
|
Selling & Admin. Expenses |
3,404,228,876 |
4,911,749,765 |
4,706,511,696 |
|
Operating Income |
409,160,105 |
3,332,079,065 |
2,498,330,795 |
|
Non-Operating Income |
523,234,819 |
2,399,956,185 |
3,045,500,996 |
|
Non-Operating Expenses |
752,792,073 |
2,941,266,295 |
2,783,508,871 |
|
Income Before Taxes |
179,602,851 |
2,790,768,955 |
2,760,322,920 |
|
Income Taxes Expenses |
32,153,559 |
658,063,081 |
632,941,615 |
|
Net Income |
147,449,292 |
2,132,705,874 |
2,127,381,305 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Cash Flows from Operating |
-687,202,178 |
-942,811,645 |
2,037,385,603 |
|
-Net Income |
147,449,292 |
2,132,705,874 |
2,127,381,305 |
|
-Exp. without Cash Outflow |
163,830,039 |
324,397,455 |
258,792,201 |
|
-Revenue without Cash Inflows |
-2,871,223 |
-11,589,984 |
-90,627,235 |
|
-Changes in Asset/ & Liability |
-995,610,286 |
-3,388,324,990 |
-258,160,668 |
|
Cash Flows from Investing |
-1,470,362,254 |
-1,258,144,820 |
128,037,532 |
|
-Cash Inflow from Investing |
161,983,000 |
3,306,931,587 |
1,041,637,399 |
|
-Cash Outflows for Investing |
-1,632,345,254 |
-4,565,076,407 |
-913,599,867 |
|
Cash Flows from Financing |
- |
-8,669,702 |
-405,267,198 |
|
-Cash Inflows from Financing |
1,830,000,000 |
1,960,000,000 |
258,669,702 |
|
-Cash Outflows from Financing |
-1,830,000,000 |
-1,968,669,702 |
-663,936,900 |
|
Increase/Decrease in Cash |
-2,157,564,432 |
-2,209,626,167 |
1,760,155,937 |
|
Cash at the Beginning of Year |
3,539,028,401 |
5,748,654,568 |
3,988,498,631 |
|
Cash at the End of Year |
1,381,463,969 |
3,539,028,401 |
5,748,654,568 |
Products,
Technologies, Services Description
|
Main Products & Services |
·
Slab ·
Bloom ·
Billet ·
Beam Blank ·
Hr Coils & Sheets ·
Hr Plates ·
Hr Stainless Plates ·
Cr Stainless Plates ·
Erw / Hfw Pipes ·
Saw Pipes(Roll Bending) ·
Saw Pipes (Press Bending) ·
Spiral Pipes ·
Stainless Pipes ·
Seamless Pipes ·
Hollow Sections ·
Beams ·
Angles & Channels ·
Piles ·
Bars ·
Wire Rods · Fittings & Flange |
Trade Partners
& Competitors
|
Competitors |
BUSAN STEEL CO., LTD. 720-4, HAKJANG-DONG, SASANG-GU, BUSAN,
KOREA TEL:+82-51-325-1131~4 FAX:+82-51-324-6440 DEOGWON STEEL CO., LTD. 507-5, BANJEONG-DONG, HWASEONG-SI,
GYEONGGI-DO, KOREA TEL:+82-31-223-7708 FAX:+82-31-223-0977 WELLSTEEL CO., LTD. 1752-1, SONGJEONG-DONG, GANGSEO-GU, BUSAN,
KOREA TEL:+82-51-831-7330 FAX:+82-51-831-7329 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
SNP LIMITED(110111-4650978) STEEL N PEOPLE LTD (SHANGHAI) STEEL N PEOPLE (M) SDN BHD (KUALA LUMPUR) STEEL N PEOPLE SOLUTIONS (M) SDN BHD (KUALA LUMPUR) |
|
Subsidiary |
SNP MIDDLE EAST FZCO (DUBAI) |
Sales by Region
(Activity & Markets)
Not Available.
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 : |
MNL |
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.