|
Report Date : |
14.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
SAMWHA CAPACITOR CO., LTD. |
|
|
|
|
Registered Office : |
227, Gyeonggidong-ro, Namsa-myeon, Cheoin-gu, Yongin-si, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
14.08.1956 |
|
|
|
|
Com. Reg. No.: |
135-81-02429 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Electronic Capacitors |
|
|
|
|
No. of Employees : |
387 |
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 : |
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) |
|
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 |
SAMWHA CAPACITOR CO., LTD. |
|
Registered Address |
227, Gyeonggidong-ro, Namsa-myeon, Cheoin-gu, Yongin-si, Gyeonggi-do,
Korea (Old Address System : 124, Buk-ri, Namsa-myeon, Cheoin-gu, Yongin-si,
Gyeonggi-do, Korea) |
|
Zip Code |
449-884 |
|
Tel |
+82-31-332-6441 |
|
Fax |
+82-31-332-7661 |
|
E-mail |
mlc@samwha.com;dcc@samwha.com;fsales@samwha.com; csales@samwha.com |
|
Website |
www.samwha.co.kr/capacitor |
|
Trading Address |
Samyoung Bldg., 587-8, Sinsa-dong,
Gangnam-gu, Seoul, Korea |
|
Tel |
+82-2-545-5600 |
|
Fax |
+82-2-518-8501 |
|
Type |
Export |
|
Industry |
Manufacture of Electronic Capacitors |
|
Main Business |
Multi Layer Ceramic Capacitors, Ceramic Capacitors, AC Film
Capacitors, Varistors, EMI, Filter, Beads, Inductors |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
08/14/1956 |
The subject owns the premises of registered
HQ address.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Capacitors(32121500) |
|
Sell |
Radio frequency RF filters(32101521) |
|
Sell |
Ferrites(32121703) |
|
Sell |
Power supply transformers(39121002) |
|
Sell |
Crystal oscillators(32111706) |
|
Sell |
Printing and drawing inks(60121800) |
|
Sell |
Base Metals(11101700) |
|
Sell |
Compressor kits(40151616) |
|
Sell |
Films(13111200) |
|
Buy |
Polypropylene films(13111211) |
|
Buy |
Base Metals(11101700) |
|
Buy |
Connecting leads or wires(39121435) |
|
Buy |
Nickel(11101706) |
|
Buy |
Powder coat(31211708) |
|
Buy |
Metal shells or casings(31261602) |
|
Buy |
Packaging tape(31201517) |
|
Buy |
Silver(11101802) |
CEO’s
|
Name |
Hwang Ho-Jin |
|
Address |
|
|
Date of Birth |
03/25/1949 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
10,395,000,000 |
|||||||||||||||||||||||||||||||||
|
Employees |
387 |
|||||||||||||||||||||||||||||||||
|
Formation |
Listed Company (Korea Stock Exchange : 001820) as of o6/29/1976 A Company of SAMWHA CAPACITOR GROUP |
|||||||||||||||||||||||||||||||||
|
Bank Details |
Shinhan Bank |
|||||||||||||||||||||||||||||||||
|
Corporate Registered No. |
134511-0003696 |
|||||||||||||||||||||||||||||||||
|
Business Registered No. |
135-81-02429 |
|||||||||||||||||||||||||||||||||
|
Permit & Licenses |
01/19/1970 KS Mark 07/28/1977 KS Mark 09/29/1979 KS Mark 11/08/1996 Single PPM 08/26/2004 CSA (SC, SD, SVC) 10/19/2004 ISO 14001 06/21/2005 ISO 9001 Int’l Trade No.: 720146 |
|||||||||||||||||||||||||||||||||
|
Shareholder Position |
|
|||||||||||||||||||||||||||||||||
|
Company History |
10/2007 Establishes SAMWHA Poland 09/2006 TS 16949 Certification 02/2005 Samsung Eco-Partner Certification 10/2004 ISO 14001 Certification 07/2002 ISO 9001:2000 Certification 05/2001 Establishes SAMWHA Europe 04/2001 Awarded the Silver Tower Prize 12/2000 Establishes SAMWHA Thailand (HVC
facility) 04/2000 Begins mass-production of Peaking
Inductor 10/1999 Begins mass-production of Feed
Through Capacitors 09/1999 Begins mass-production of Chip
Varistor 11/1997 Establishes SAMWHA Thailand 02/1997 Establishes PT. SAMCON 08/1994 ISO 9001 Certification 01/1990 Begins mass-production of EMI
Filters 12/1987 Awarded ‘Iron Tower Prize for
$50,000,000 Export’ on the Export Day 04/1987 Establishes SAMWHA USA 02/1985 Begins Korea’s first
mass-production of MLCC (Monoly Chip Multilayer Ceramic Capacitor) with original
technology 06/1976 SAMWHA Capacitor Industry Co. goes
public 12/1973 Exceeds $1,000,000 in export 01/1970 KS (Korea Standard) logo
inscription approved 04/1969 Begins Korea’s first
mass-production of ceramic capacitors 08/1968 Changes the company name to SAMWHA
Capacitor Industry Co. 04/1964 Begins Korea’s first
mass-production of capacitors for machinery 09/1963 Begins Korea’s first
mass-production of Power capacitors 12/1960 Launches technical partnership with
Japan Capacitor Group 12/1960 Changes company name to SAMWHA
Electric 08/1956 Establishes Ohan Industry (CEO: Oh,
Dongsun) |
Management
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education & Career |
|
Chairman |
Mr. |
Oh Young-Joo |
Korean |
1959.01.16 |
Roosevelt University |
|
President & CEO |
Mr. |
Hwang Ho-Jin |
Korean |
1949.03.25 |
Kyungbuk National University |
|
Executive Director |
Mr. |
Hong Jin-Bae |
Korean |
1955.05 |
Samwha Thail |
|
Director |
Mr. |
Kwon Ki-Jung |
Korean |
1963.10.09 |
Kyungbuk National University |
|
Director |
Mr. |
Kim Jung-Soo |
Korean |
1963.03.13 |
Kangwon National University |
|
Outside Director |
Mr. |
Oh Yeom-Kon |
Korean |
1957.07 |
Shinhan Bank |
|
Outside Director |
Mr. |
Yoon Chae-Hyun |
Korean |
1960.07 |
Shinhan Bank |
|
Auditor |
Mr. |
Kim Hong-Keuk |
Korean |
1946.09 |
SAMWHA CAPACITOR |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
27,410,714,427 |
108,836,452,931 |
-2,395,638,685 |
|
|
(*)2013 |
122,229,643,512 |
111,769,207,941 |
60,500,020 |
|
(*)2012 |
117,750,269,252 |
113,484,528,103 |
1,233,973,710 |
|
(*)2011 |
119,786,143,788 |
119,711,127,550 |
887,983,860 |
|
2010 |
133,410,190,582 |
94,104,639,184 |
10,974,669,992 |
|
2009 |
119,571,010,767 |
77,639,705,121 |
11,931,895,598 |
|
2008 |
94,581,203,817 |
63,941,800,366 |
1,689,042,141 |
|
2007 |
90,043,202,956 |
54,257,028,871 |
7,129,712,080 |
|
2006 |
79,891,360,264 |
52,405,442,234 |
2,037,310,376 |
|
2005 |
82,880,202,361 |
53,435,408,246 |
-8,121,940,268 |
|
2004 |
98,633,944,220 |
64,291,235,357 |
870,116,498 |
(*)Figures are
based on the K-IFRS Accounting System.
Financial
Description
|
Authorized Capital(KRW) |
20,000,000,000 |
|
Paid-Up Capital(KRW) |
10,395,000,000 |
|
Total Issues Shares |
10,395,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
01/01/2014~03/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total Assets |
108,836,452,931 |
111,769,207,941 |
113,484,528,103 |
|
Current Assets |
39,225,096,845 |
40,531,601,583 |
40,355,256,982 |
|
Inventories |
10,840,869,075 |
11,717,697,373 |
9,706,501,935 |
|
Held-to-Maturity Financial Assets |
2,140,000 |
2,140,000 |
1,445,000 |
|
Trade Receivables |
23,028,268,217 |
25,223,200,914 |
23,279,750,857 |
|
Other Receivables |
1,256,886,963 |
214,550,580 |
2,401,796,890 |
|
Current Financial Instruments |
1,752,000,000 |
1,656,000,000 |
600,000,000 |
|
Cash & Cash Equivalents |
2,044,587,716 |
1,664,811,803 |
3,696,648,235 |
|
National Subsidies |
-751,349,815 |
-901,950,351 |
-907,966,071 |
|
Other Current Assets |
1,051,694,689 |
955,151,264 |
1,577,080,136 |
|
Non-Current Assets |
69,611,356,086 |
71,237,606,358 |
73,129,271,121 |
|
Tangibles |
45,894,266,979 |
47,461,532,024 |
51,174,120,429 |
|
Intangibles |
157,165,000 |
157,165,000 |
157,165,000 |
|
Non-Current Financial Instruments |
60,500,000 |
51,500,000 |
392,500,000 |
|
Long-Term Trade Receivables &
Other Receivables |
1,101,409,000 |
1,098,409,000 |
98,409,000 |
|
Investment_Related Companies |
13,390,702,931 |
13,390,702,931 |
13,390,702,931 |
|
Held-to-Maturity Financial Assets |
20,255,000 |
20,255,000 |
17,870,000 |
|
Marketable Financial Instruments |
6,035,198,357 |
5,834,426,917 |
5,295,109,257 |
|
Deferred Income Tax Assets |
2,951,858,819 |
3,223,615,486 |
2,603,394,504 |
|
Total Liabilities |
62,435,660,970 |
62,731,653,309 |
65,518,822,161 |
|
Current Liabilities |
52,706,495,750 |
52,693,499,758 |
53,005,487,560 |
|
Short-Term Borrowings |
32,457,295,256 |
30,340,089,200 |
32,765,275,832 |
|
Current Portion of Long-Term
Debts |
1,500,000,000 |
1,500,000,000 |
1,031,250,000 |
|
Trade Payables |
13,863,630,604 |
13,707,569,409 |
13,612,629,629 |
|
Other Payables |
3,047,095,562 |
3,737,963,355 |
2,768,857,074 |
|
Accrued Income Tax |
0 |
0 |
22,644,373 |
|
Other Current Liabilities |
1,838,474,328 |
3,407,877,794 |
2,804,830,652 |
|
Non-Current Liabilities |
9,729,165,220 |
10,038,153,551 |
12,513,334,601 |
|
Long-Term Borrowings |
2,125,000,000 |
2,500,000,000 |
4,000,000,000 |
|
Long-Term Trade Payables &
Other Payables |
664,447,502 |
664,447,502 |
629,163,309 |
|
Confirmed Salaries |
12,213,279,317 |
12,282,856,497 |
12,369,147,448 |
|
Other Non-Current Provisions |
430,724,983 |
437,681,228 |
510,400,783 |
|
Capital Stock |
10,395,000,000 |
10,395,000,000 |
10,395,000,000 |
|
Capital Surplus |
6,779,371 |
6,779,371 |
6,779,371 |
|
Others |
12,367,365,329 |
12,193,168,357 |
11,755,293,330 |
|
Profit Surplus |
23,631,647,261 |
26,442,606,904 |
25,808,633,241 |
|
Total Equity |
46,400,791,961 |
49,037,554,632 |
47,965,705,942 |
|
Liab. & Shareholder’s Equity |
108,836,452,931 |
111,769,207,941 |
113,484,528,103 |
|
Income Statement |
|||
|
Unit : Korean Won |
01/01/2014~03/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
27,410,714,427 |
122,229,643,512 |
117,750,269,252 |
|
Cost of Sold Goods |
25,872,155,761 |
106,528,201,360 |
101,197,964,842 |
|
Gross Profit |
1,538,558,666 |
15,701,442,152 |
16,552,304,410 |
|
Selling & Admin. Expenses |
-3,433,771,239 |
-14,296,691,171 |
-14,103,384,700 |
|
Operating Income |
-1,895,212,573 |
1,404,750,981 |
2,448,919,710 |
|
Other Income |
119,548,061 |
318,736,205 |
304,831,959 |
|
Other Expenses |
-950,767 |
-440,800 |
-12,000,000 |
|
Non-Operating Income |
-92,472,685 |
-2,269,836,883 |
-794,220,598 |
|
Finance Income |
17,610,118 |
1,030,045,068 |
694,194,889 |
|
Finance Expenses |
-300,265,748 |
-1,444,725,216 |
-1,970,119,459 |
|
Income Before Taxes |
-2,151,743,594 |
-961,470,645 |
671,606,501 |
|
Income Taxes Expenses |
243,895,091 |
-1,021,970,665 |
-562,367,209 |
|
Net Income |
-2,395,638,685 |
60,500,020 |
1,233,973,710 |
|
Cash Flows |
|||
|
Unit : Korean Won |
01/01/2014~03/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Operating Activities Cash Flows |
-2,756,441,048 |
9,088,718,343 |
8,925,492,329 |
|
Cash Flows from Operating |
-2,559,534,694 |
8,958,765,126 |
9,343,912,115 |
|
Net Income |
-2,395,638,685 |
60,500,020 |
1,233,973,710 |
|
Interests Received |
4,741,337 |
51,993,038 |
54,472,571 |
|
Interests Paid |
-201,647,691 |
-866,653,135 |
-1,107,792,691 |
|
Dividends Received |
0 |
967,257,687 |
643,646,674 |
|
Income Taxes |
0 |
-22,644,373 |
-8,746,340 |
|
Cash Flows from Investing |
-1,296,773,767 |
-8,481,418,577 |
-5,082,286,491 |
|
Cash Flows from Financing |
4,432,990,728 |
-2,639,136,198 |
-5,686,065,089 |
|
Increase/Decrease in Cash |
379,775,913 |
-2,031,836,432 |
-1,842,859,251 |
|
Cash at the Beginning of Year |
1,664,811,803 |
3,696,648,235 |
5,539,507,486 |
|
Cash at the End of Year |
2,044,587,716 |
1,664,811,803 |
3,696,648,235 |
Products,
Technologies, Services Description
|
Main Products & Services |
Multi-layer Ceramic Capacitors SMD MLCC Radial MLCC Axial
MLCC Varistors Disc Ceramic Varistors Multilayer Varistors Beads & Inductors Chip
Ferrite Beads & Array Chip
Ferrite Inductors Chip
Power Inductors Chip
LC Filters Chip
Common Mode Filters Ceramic Capacitors Disc
Ceramic Capacitors EMI Filters LC
Filters Radial Bead Filters Axial Bead Filters |
||||||||
|
Annual Production Capacity (Unit : Mpcs) |
|
Trade Partners
& Competitors
|
Suppliers |
SAMA ALUMINIUM CO.,LTD.(134111-0002365) SHIN YOUNG METAL CO.,LTD.(120111-0182262) SAMSUNG C&T CORPORATION(110111-0002975) SAMSUNG FINE CHEMICALS CO., LTD.(181211-0000013) HANSOL PAPER CO., LTD(110111-0017867) TOKYO WELD MITSUBISHI FERRO NAMICS SHIN-ETSU ARKEMA BUSHING MURATA SUMUTOMO |
|
Competitors |
SAMSUNG ELECTRO-MECHANICS
CO.,LTD.(130111-0001626) 314, MAETAN 3-DONG, YEONGTONG-GU, SUWON-SI,
GYEONGGI-DO, KOREA TEL:+82-31-210-5114 FAX:+82-31-210-6363 HANSUNG ELCOMTEC CO.,LTD.(134811-0015546) 110-1, GALGOT-RI, JINWI-MYEON,
PYEONGTAEK-SI, GYEONGGI-DO, KOREA TEL:+82-31-372-6740 FAX:+82-31-372-6746 DONG IL ELECTRONICS CO., LTD. 24, GAHEUNG-RI, GAGEUM-MYEON, CHUNGJU-SI,
CHUNGCHEONGBUK-DO, KOREA TEL:+82-43-855-7800 FAX:+82-43-855-7803 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates-Domestic |
SAMWHA ELECTRONICS CO., LTD
(134811-0000563) SAMWHA ELECTRIC CO., LTD.(150111-0000856) SEOUL MUTUAL SAVINGS BANK(110111-0339427) SAMWHA TECOM CO., LTD.(134511-0001533) SAMWHA TRADING CO., LTD.(110111-0357312) KOREA JCC CO., LTD.(150111-0003967) SAMWHA ENTERPRISE CO., LTD.(161511-0001324) |
|
Affiliates-Overseas |
SAMWHA THAILAND (96.02% held by the subject company) 66 MOO 4 T.TAKAI A.MUANG CHEONGSAO 24000, THAILAND PT.SAMCON (98.44% held by the subject company) JL. RAYA SUBANG CIKUMPAY CAMPAKA PURWAKARTA, INDONESIA SAMWHA HONG KONG (33.33% held by the subject company) SAMWHA EUROPE (33.33% held by the subject company) SAMWHA POLAND (85.0% held by the subject company) UL.FINSKA 2, BISKUPICE PODGORNE 55-040 KOBIERZYCE, POLAND TENJIN SAMWHA KOSHIN INTERNATIONAL TRADING
CO., LTD.-CHINA SAMWHA US PT.SAMWHA INDONESIA QINGDAO SAMWHA ELECTRONICS CO., LTD-CHINA PT. SAMWHA ELECTRIC INDONESIA TENJIN SAMWHA ELECTRIC CO., LTD.-CHINA |
|
Subsidiary |
SAMWHA THAILAND (96.02% held by the subject company) 66 MOO 4 T.TAKAI A.MUANG CHEONGSAO 24000, THAILAND PT.SAMCON (98.44% held by the subject company) JL. RAYA SUBANG CIKUMPAY CAMPAKA PURWAKARTA, INDONESIA SAMWHA POLAND (85.0% held by the subject company) UL.FINSKA 2, BISKUPICE PODGORNE 55-040 KOBIERZYCE, POLAND |
|
Cooperative Enterprise |
KAIST KERI(KOREA ELECTROTECHNOLOGY RESEARCH
INSTITUTE) -Insured Company SAMSUNG FIRE & MARINE INSURANCE CO.,LTD(110111-0005078) DONGBU INSURANCE CO., LTD.(110111-0095285) LIG INSURANCE CO., LTD.(110111-0017859) |
Sales by Region
(Activity & Markets)
|
Sales/ Unit :Mil KRW |
03/2011 |
2010 |
2009 |
|
Export |
21,533 |
23,905 |
98,705 |
|
Domestic |
7,247 |
7,264 |
34,705 |
|
Total |
28,780 |
31,169 |
133,410 |
The Subject exports to China, Japan, USA,
Europe, South and East Asia.
Not Available
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.19 |
|
|
1 |
Rs.103.15 |
|
Euro |
1 |
Rs.81.87 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.