|
Report Date : |
09.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
SAM-A ALUMINIUM CO., LTD. |
|
|
|
|
Registered Office : |
467, Bakdal-ro, Manan-gu, Anyang-si, Gyeonggi-do, Korea |
|
|
|
|
Country : |
Korea (South) |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
25.06.1969 |
|
|
|
|
Com. Reg. No.: |
123-81-01882 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Rolled, Drawn and Folded Products of Aluminum |
|
|
|
|
No. of Employees : |
264 |
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) |
|
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 |
SAM-A ALUMINIUM CO., LTD. |
|
Registered Address |
467, Bakdal-ro, Manan-gu, Anyang-si, Gyeonggi-do, Korea (Old Address System : 111-2, Bakdal 2-dong, Manan-gu, Anyang-si,
Gyeonggi-do, Korea) |
|
Zip Code |
430-802 |
|
Tel |
+82-31-467-6800 |
|
Fax |
+82-31-446-2121 |
|
E-mail |
webmaster@sama-al.com |
|
Website |
www.sama-al.com |
|
Trading Address |
7~8FL., Wonkyung Bldg., 205, Dogok-ro, Gangnam-gu, Seoul, Korea (Old Address System : 7~8FL., Wonkyung Bldg., 788-16, Yeoksam-dong,
Gangnam-gu, Seoul, Korea) |
|
Tel |
+82-2-3458-0600 |
|
Fax |
+82-2-563-8188 |
|
Other Address-Poseung Factory |
592, Manho-ri, Poseung-eup, Pyeongtaek-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-680-9500 |
|
Fax |
+82-31-683-7011 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Rolled, Drawn and Folded Products of Aluminum |
|
Main Business |
Aluminum Foil, Adhesion Foil, Refill Pouch, Yogurt Cap |
|
Established (mm/dd/yyyy) |
06/25/1969 |
The Subject owns the premises of Poseung
Factory(100,000㎡).
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Lining papers(14111616) |
|
Sell |
Domestic disposable dishes(52151502) |
|
Sell |
Domestic disposable food containers(52151506) |
|
Sell |
Packaging materials(24120000) |
|
Sell |
Aluminum foil(30102006) |
|
Sell |
Resins(13111000) |
|
Sell |
Foil tape(31201521) |
|
Sell |
Caps or tops(24122004) |
|
Sell |
Packaging pouches or bags(24121502) |
|
Sell |
Electrical insulating tape(31201502) |
|
Sell |
Aluminum strip(30102606) |
|
Sell |
Films(13111200) |
|
Sell |
Heat exchangers(40101802) |
|
Sell |
Powder coat(31211708) |
|
Sell |
Domestic ranges(52141504) |
CEO’s
|
Name |
Hahn Nam-Hee |
|
Date of Birth |
12/17/1956 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
5,500,000,000 |
||||||||||||||||||
|
Employees |
264 |
||||||||||||||||||
|
Formation |
Listed Company (Korea Stock Exchange : 006110) as of 12/05/1980 Foreign Direct Investment Corporation |
||||||||||||||||||
|
Bank Details |
Korea Exchange Bank-Sales Dept. Shinhan Bank Hana Bank |
||||||||||||||||||
|
Corporate Registered No. |
134111-0002365 |
||||||||||||||||||
|
Business Registered No. |
123-81-01882 |
||||||||||||||||||
|
Permit & Licenses |
03/15/1993 KS Mark 10/20/1995 ISO 9002 10/28/2003 ISO 9001 04/2005 ISO 14001 Int’l Trade No.: 727039 |
||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||
|
Company History |
02/01/2011 Decide to spin off the par value
to 500 KRW from 5,000 KRW as of 04/2011 04/2005 Certified KSA 14001:2004 ISO 14001:2004 06/2004 Finished construction of Poseung
factory 12/2003 Installed the 5th ultra-high speed
& widest width milling machine 10/2003 Certified KSA 9001 : 2001 & ISO
9001 : 2001 10/2001 Started construction of Poseung
factory 01/2000 Opened ERP System 10/1995 Certified KSA 9002 & ISO 9002 06/1994 Installed the 4th ultra-high speed
& wide width milling machine 11/1986 Installed the 3rd ultra-high speed
& wide width milling machine 04/1982 Moved into the first section from
the second section at the Korea Stock Exchange 12/1980 Enlisted in the second section at
the Korea Stock Exchange 03/1976 Installed the 2nd high speed &
wide width milling machine 10/1975 Finished construction of the
Shi-Heung converting factory and moved the converting machine 12/1974 Installed production facilities for
aluminium -paste & started production 06/1970 Installed the 1st high speed &
wide width milling machine 01/1970 Incorporated as a Joint Venture
with Toyo Aluminium K.K., Japan 11/1969 Installed wet-lamination machine
& started production of paper backed foil 06/1969 Established Sam-A Aluminium Company
Limited |
||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
President & CEO |
Dr. |
Hahn Nam-Hee |
Korean |
1956.12.17 |
U.C. Davis University, USA |
|
Director |
Mr. |
Lee Jae-Kwan |
Korean |
1952.03.12 |
Yonsei University, Korea |
|
Director |
Mr. |
Kim Sang-Yoon |
Korean |
1952.11.13 |
Inha University, Korea |
|
Director |
Mr. |
Ha Sang-Yong |
Korean |
1952.03.04 |
Inha University, Korea |
|
Director |
Mr. |
Imasu Masao(今須聖雄) |
Japanese |
1942.11.03 |
Kansai University, Japan |
|
Director |
Mr. |
Yamamoto Hiroshi (山本 博) |
Japanese |
1950.05.16 |
Osaka University, Japan |
|
Outside Director |
Mr. |
Kwon Oh-Bin |
Korean |
1926.11.13 |
- |
|
Outside Director |
Mr. |
Sohn Kye-Dong |
Korean |
1936.05.28 |
Yonsei University, Korea |
|
Outside Director |
Mr. |
淺田 淑 |
Japanese |
1941.04.21 |
Osaka University, Japan |
|
Auditor |
Mr. |
Jung Kyu-Tae |
Korean |
1948.08.19 |
Korea University |
|
Auditor |
Mr. |
Ueda Masamichi (上田雅通) |
Japanese |
1950.04.12 |
Waseda University, Japan |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
31,437,033,478 |
195,136,112,777 |
127,680,845 |
|
|
(*)2013 |
128,945,237,462 |
190,726,675,238 |
374,958,779 |
|
(*)2012 |
150,091,124,132 |
173,452,507,000 |
2,762,671,278 |
|
(*)2011 |
158,084,044,891 |
185,399,645,483 |
2,602,476,886 |
|
(*)2010 |
153,989,824,963 |
178,056,310,542 |
5,938,585,117 |
|
2009 |
136,465,422,081 |
130,169,837,147 |
5,408,056,088 |
|
2008 |
144,555,391,298 |
130,928,079,607 |
15,664,485,144 |
|
2007 |
134,247,318,420 |
129,390,551,985 |
(-)5,793,309,057 |
|
2006 |
136,120,441,772 |
137,812,236,549 |
(-)7,950,672,618 |
|
2005 |
134,921,005,168 |
145,112,817,305 |
(-)9,976,772,925 |
|
2004 |
138,902,102,684 |
153,078,742,522 |
5,355,108 |
(*)Figures are
based on the K-IFRS Accounting System.
Financial
Description
|
Authorized Capital(KRW) |
15,000,000,000 |
|
Paid-Up Capital(KRW) |
5,500,000,000 |
|
Total Issues Shares |
11,000,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
01/01/2014~03/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total Assets |
195,136,112,777 |
190,726,675,238 |
173,452,507,000 |
|
Current Assets |
83,020,200,704 |
80,817,317,572 |
71,990,490,120 |
|
Cash & Cash Equivalents |
7,069,171,653 |
2,072,465,802 |
5,824,101,660 |
|
Finance Assets from this year's
Income |
14,373,790 |
0 |
302,760,020 |
|
Trade Receivables |
29,921,135,371 |
29,059,234,693 |
29,828,073,712 |
|
Inventories |
27,727,476,942 |
31,698,686,660 |
35,533,311,633 |
|
Other Financial Assets |
17,221,511,459 |
16,485,458,948 |
106,184,334 |
|
Other Current Assets |
1,066,531,489 |
1,501,471,469 |
396,058,761 |
|
Non-Current Assets |
112,115,912,073 |
109,909,357,666 |
101,462,016,880 |
|
Marketable Financial Instruments |
750,390,000 |
750,390,000 |
500,390,000 |
|
Investment_Related Companies |
1,980,000,000 |
1,980,000,000 |
0 |
|
Tangibles |
107,667,015,073 |
105,460,615,666 |
82,307,709,306 |
|
Intangibles |
89,000,000 |
89,000,000 |
89,000,000 |
|
Other Financial Assets |
1,629,507,000 |
1,629,352,000 |
17,124,044,051 |
|
Other Non-Current Assets |
0 |
0 |
1,440,873,523 |
|
Total Liabilities |
86,495,852,172 |
81,389,095,478 |
63,967,700,901 |
|
Current Liabilities |
55,712,608,684 |
50,745,294,686 |
51,225,175,615 |
|
Trade Payables |
14,805,534,451 |
11,352,911,858 |
11,067,682,323 |
|
Short-Term Borrowings |
35,395,260,687 |
35,140,799,076 |
36,172,398,399 |
|
Accrued Income Tax |
339,381,818 |
500,246,633 |
358,589,173 |
|
Other Current Financial Debts |
4,850,310,479 |
3,536,077,065 |
2,821,298,380 |
|
Other Current Liabilities |
322,121,249 |
215,260,054 |
805,207,340 |
|
Non-Current Liabilities |
30,783,243,488 |
30,643,800,792 |
12,742,525,286 |
|
Long-Term Borrowings |
19,200,000,000 |
19,200,000,000 |
77,096,000 |
|
Provision for Severance &
Retirement |
4,380,412,684 |
4,223,459,242 |
4,623,188,079 |
|
Deferred Income Tax Credit |
6,870,714,705 |
6,895,687,026 |
7,685,355,675 |
|
Other Non-Current Liabilities |
332,116,099 |
324,654,524 |
356,885,532 |
|
Capital Stock |
5,500,000,000 |
5,500,000,000 |
5,500,000,000 |
|
Capital Surplus |
4,750,459,800 |
4,750,459,800 |
4,750,459,800 |
|
Profit Surplus |
98,389,800,805 |
99,087,119,960 |
99,234,346,299 |
|
Total Equity |
108,640,260,605 |
109,337,579,760 |
109,484,806,099 |
|
Liab. & Shareholder’s Equity |
195,136,112,777 |
190,726,675,238 |
173,452,507,000 |
|
Income Statement |
|||
|
Unit : Korean Won |
01/01/2014~03/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
31,437,033,478 |
128,945,237,462 |
150,091,124,132 |
|
Cost of Sold Goods |
29,377,826,046 |
120,398,832,990 |
137,271,380,963 |
|
Gross Profit |
2,059,207,432 |
8,546,404,472 |
12,819,743,169 |
|
Selling & Admin. Expenses |
1,928,816,568 |
7,382,715,327 |
7,787,173,800 |
|
Operating Income |
130,390,864 |
1,163,689,145 |
5,032,569,369 |
|
Other Operating Income |
269,209,301 |
1,746,262,680 |
1,379,605,374 |
|
Other Operating Expenses |
109,744,723 |
1,636,495,113 |
1,987,699,846 |
|
Finance Income |
151,479,327 |
1,000,677,058 |
1,527,791,431 |
|
Finance Expenses |
289,126,643 |
1,359,592,754 |
2,205,186,902 |
|
Income Before Taxes |
152,208,126 |
914,541,016 |
3,747,079,426 |
|
Income Taxes Expenses |
24,527,281 |
539,582,237 |
984,408,148 |
|
Net Income |
127,680,845 |
374,958,779 |
2,762,671,278 |
|
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 |
7,609,605,984 |
9,263,550,847 |
17,872,375,478 |
|
Net Income |
127,680,845 |
374,958,779 |
2,762,671,278 |
|
-Exp. without Cash Outflow |
1,490,266,732 |
10,043,199,303 |
10,212,890,362 |
|
-Revenue without Cash Inflows |
-171,083,367 |
-1,241,652,316 |
-1,051,148,867 |
|
-Changes in Asset/ & Liability |
6,700,337,616 |
3,278,796,553 |
9,068,116,623 |
|
Interests Received |
302,255 |
7,115,641 |
7,648,010 |
|
Interests Paid |
-327,533,680 |
-1,925,864,361 |
-2,243,794,088 |
|
Income Taxes |
-210,364,417 |
-1,273,002,752 |
-884,007,840 |
|
Cash Flows from Investing |
-2,863,028,693 |
-30,279,580,090 |
-6,644,115,168 |
|
Cash Inflow from Investing |
0 |
718,630,197 |
11,372,809 |
|
Cash Outflows for Investing |
-2,863,028,693 |
-30,998,210,287 |
-6,655,487,977 |
|
Cash Flows from Financing |
254,461,611 |
17,266,304,677 |
-11,797,488,440 |
|
Cash Inflows from Financing |
395,260,687 |
67,340,799,076 |
42,170,011,299 |
|
Cash Outflows from Financing |
-140,799,076 |
-50,074,494,399 |
-53,967,499,739 |
|
Increase/Decrease in Cash |
5,001,038,902 |
-3,749,724,566 |
-569,228,130 |
|
Cash at the Beginning of Year |
2,072,465,802 |
5,824,101,660 |
6,400,012,307 |
|
Cash at the End of Year |
7,069,171,653 |
2,072,465,802 |
5,824,101,660 |
Products,
Technologies, Services Description
|
Main Products & Services |
Aluminum Foil, Adhesion Foil, Refill Pouch, Yogurt Cap |
Trade Partners
& Competitors
|
Suppliers |
NOVELIS KOREA LIMITED(175611-0003950) CHOIL ALUMINUM CO., LTD(170111-0021543) KUK-IL PAPER MFG CO., LTD(134511-0001377) SEONGLIM PAPER CO., LTD.(134511-0000428) SKC LTD(130111-0001585) HYOSUNG CORPORATION(110111-0030497) KOLON INDUSTRIES INC.(110111-0030528) |
|
Customers |
DONGSUH CO., LTD.(110111-0180888) OTTOGI CORPORATION(134111-0002258) SAMSUNG SDI CO., LTD.(110111-0394174) HALLA CLIMATE CONTROL CORP.(134711-0002206) DOOWON CLIMATE CONTROL CO.,
LTD.(134811-0012386) FLAIR FLEXIBLE PACKAGING HUHTAMAKI(THAILAND) LIMITED M/S BILCARE LTD GUDANG GARAM TBK ASIA PACKAGING CENTER CO., LTD.(APC) SOCIAL MARKETING COMPANY |
|
Competitors |
LOTTE ALUMINUM CO., LTD. 1005, DOKSAN 1-DONG, GEUMCHEON-GU, SEOUL,
KOREA TEL:+82-2-801-8000 FAX:+82-2-801-8109 DONGIL ALUMINUM CO., LTD. 378-1, CHEONHEUNG-RI, SEONGGEO-EUP,
SEOBUK-GU, CHEONAN-SI, CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-559-2222 FAX:+82-41-555-9600 DAE HAN EUNPAKGY CO., LTD. 308, UNYONG-RI, DUNPO-MYEON, ASAN-SI,
CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-532-0108 FAX:+82-41-532-0109 |
Related Parties (Subsidiaries,
Joint-Venture & Affiliates)
|
Major Shareholders |
TOYO ALUMINIUM K.K. CO., LTD.(JAPAN) OSAKA CITY CHUO-KU KYUTARO-MACHI 3-CHOME
6-8 |
|
Cooperative Enterprise |
-Insured Company LIG INSURANCE CO., LTD.(110111-0017859) DONGBU INSURANCE CO., LTD.(110111-0095285) SAMSUNG FIRE & MARINE INSURANCE CO., LTD.(110111-0005078) GREEN NON-LIFE INSURANCE CO., LTD.(110111-0007082) |
Sales by Region
(Activity & Markets)
|
Sales/ Unit :Mil KRW |
03/2014 |
2013 |
2012 |
|
Export |
12,824 |
54,680 |
68,351 |
|
Domestic |
18,613 |
74,265 |
81,740 |
|
Total |
31,437 |
128,945 |
150,091 |
The Subject deals with the companies in
Japan.
Not Available
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.20 |
|
|
1 |
Rs.99.52 |
|
Euro |
1 |
Rs.80.83 |
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.