|
Report Date : |
16.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
CHEMTRONICS CO., LTD. |
|
|
|
|
Registered Office : |
31, Baeil-gil, Jeondong-myeon, Sejong-si, Korea |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
01.04.1997 |
|
|
|
|
Com. Reg. No.: |
129-81-21998 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Instruments for Automatic Measurement or
Control |
|
|
|
|
No. of Employees |
373 |
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) |
|
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 |
CHEMTRONICS CO., LTD. (Korean Company Name : “(주)켐트로닉스”) |
|
Registered
Address |
31, Baeil-gil, Jeondong-myeon, Sejong-si, Korea (Old Address System : 167-8, Cheongsong-ri,
Jeondong-myeon, Sejong, Korea) |
|
Building |
|
|
Zip Code |
339-841 |
|
Tel |
+82-44-868-3011 |
|
Fax |
+82-44-868-3015 |
|
E-mail |
cma@chemtronics.co.kr |
|
Website |
www.chemtronics.co.kr |
|
Trading Address |
49, Daewangpangyo-ro 644beon-gil, Bundang-gu, Seongnam-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-776-7690 |
|
Fax |
+82-31-776-7691 |
|
Other Address-Osan Factory |
35, Buk-ri, Namsa-myeon, Cheoin-gu, Yongin-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-321-3800 |
|
Fax |
+82-31-321-4908 |
|
Other Address-Gwangju Factory |
614-5, Maesan-ri, Opo-eup, Gwangju-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-321-3800 |
|
Fax |
+82-31-765-4799 |
|
Other Address-Pyeongtaek
Factory |
45,
Poseunggongdan-ro 118beon-gil, Poseung-eup, Pyeongtaek-si, Gyeonggi-do, Korea (Old Address
System : 679-18, Naegi-ri, Poseung-eup, Pyeongtaek-si, Gyeonggi-do, Korea) |
|
Tel |
+82-31-683-7461 |
|
Fax |
+82-31-683-7465 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Instruments for Automatic Measurement or
Control |
|
Main Business |
Touch Sensor, Lever Sensor, Chemicals |
|
Sub Business |
Manufacture of All Other Chemical Products n.e.c. |
|
Established
(mm/dd/yyyy) |
04/01/1997 |
Detailed Products
|
Activity |
Detailed
Products (UNSPSC) |
|
Sell |
Integrated circuits(32101600) |
|
Sell |
Switches and controls and relays and accessories(39121500) |
|
Sell |
Level sensors or transmitters(41111938) |
|
Sell |
Proximity sensors(41111926) |
|
Sell |
Chemicals including Bio Chemicals and Gas Materials(12000000) |
CEO’s
|
Name |
Kim Bo-Kyun |
|
Address |
|
|
Date of Birth |
05/27/1954 |
|
Title |
Chairman &
CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
4,240,725,500 |
||||||||||||||||||||||||
|
Employees |
373 |
||||||||||||||||||||||||
|
Formation |
Listed Company (KOSDAQ : 089010) as of 01/17/2007 |
||||||||||||||||||||||||
|
Bank Details |
Industrial
Bank of Korea Korea
Development Bank-Ansan Branch |
||||||||||||||||||||||||
|
Corporate
Registered No. |
131111-0028116 |
||||||||||||||||||||||||
|
Business
Registered No. |
129-81-21998 |
||||||||||||||||||||||||
|
Permit &
Licenses |
06/2003 ISO 9001 11/2004 ISO 14001 09/2008 ISO 9001 09/2008 ISO 14001 Int’l Trade No.: 11412511 |
||||||||||||||||||||||||
|
Shareholder
Position |
|
||||||||||||||||||||||||
|
Company
History |
04/01/1997
Incorporated as Hyupjin Chemical Co., Ltd. 11/2000 Changed
company name to the present name 04/02/2009
Moved to the present HQ registered address from 45, Poseunggongdan-ro
118beon-gil, Poseung-eup, Pyeongtaek-si, Gyeonggi-do, Korea(Old Address
System : 679-18, Naegi-ri, Poseung-eup, Pyeongtaek-si, Gyeonggi-do, Korea) 06/24/2005
Designated as a Venture Business 06/24/2006
Designated as a Venture Business again 11/2010
Awarded US$ 100 Million Export Top Prize |
||||||||||||||||||||||||
|
|
|
Management
|
Job
Description |
Title |
Name |
Nationality |
Date of Birth |
Education/Career |
|
Chairman & CEO |
Mr. |
Kim Bo-Kyun |
Korean |
1954.05.27 |
Kunkuk
University, Korea |
|
President |
Mr. |
Kwon Yoon-Ho |
Korean |
1958.10 |
Samsung
Electronics Co., Ltd.(130111-0006246) |
|
Vice President |
Mr. |
Lee Kang-Sun |
Korean |
1961.06.09 |
Kunkuk
University, Korea |
|
Outside Director |
Mr. |
Song In-Kwon |
Korean |
1953.10 |
Hyundai Group |
|
Auditor |
Mr. |
Bae Jae-Moon |
Korean |
1953.12 |
Samsung
Electro-Mechanics Co., Ltd.(130111-0001626) |
|
Year / Unit :
KRW |
Sales |
Assets |
Net Income |
|
03/2014 |
68,547,664,957 |
213,061,149,802 |
2,183,122,240 |
|
2013 |
292,718,335,650 |
198,122,683,613 |
25,361,655,761 |
|
2012 |
232,682,725,212 |
169,146,215,676 |
16,390,378,050 |
|
2011 |
225,962,460,928 |
151,263,310,312 |
7,516,750,259 |
|
2010 |
196,633,237,977 |
139,903,649,528 |
6,620,371,936 |
Financial Description
|
Authorized
Capital(KRW) |
20,000,000,000 |
|
Paid-Up
Capital(KRW) |
4,240,725,500 |
|
Total Issued
Shares |
8,481,451 |
|
Balance Sheet |
|||
|
Unit : Korean
Won |
01/01/2014~03/31/2014 |
As of
12/31/2013 |
As of
12/31/2012 |
|
Total
Assets |
213,061,149,802 |
198,122,683,613 |
169,146,215,676 |
|
Current
Assets |
112,516,116,065 |
98,698,951,257 |
103,514,256,020 |
|
Cash
& Cash Equivalents |
4,392,469,966 |
878,855,222 |
12,528,148,427 |
|
Current
Financial Instruments |
2,835,418,091 |
3,218,062,184 |
6,322,990,904 |
|
Trade
Receivables & Other Receivables |
73,060,637,688 |
69,744,739,987 |
63,551,887,336 |
|
Other
Current Assets |
385,864,248 |
443,500,204 |
200,251,757 |
|
Inventories |
31,841,747,733 |
24,413,814,190 |
21,087,347,356 |
|
Non-Current
Assets |
100,545,033,737 |
99,423,732,356 |
65,631,959,656 |
|
Non-Current
Financial Instruments |
2,112,701,087 |
2,138,506,201 |
2,032,846,657 |
|
Marketable
Financial Instruments |
3,325,000,000 |
3,375,000,000 |
1,375,000,000 |
|
Other Receivables |
2,226,129,297 |
2,508,106,642 |
1,670,469,259 |
|
Investment_Subsidiaries |
7,639,931,552 |
7,639,931,552 |
6,575,531,552 |
|
Tangibles |
82,237,015,515 |
80,204,140,213 |
49,046,769,291 |
|
Intangibles |
2,753,379,615 |
2,924,362,865 |
2,498,900,928 |
|
Deferred
Income Tax Assets |
250,876,671 |
633,684,883 |
2,432,441,969 |
|
Total
Liabilities |
115,003,754,957 |
99,026,749,808 |
93,233,745,493 |
|
Current
Liabilities |
86,984,012,978 |
70,756,402,797 |
64,987,273,116 |
|
Trade
Payables & Other Payables |
29,730,777,761 |
24,008,829,893 |
21,614,728,189 |
|
Short-Term
Borrowings |
53,168,788,366 |
42,585,076,319 |
28,335,807,978 |
|
Current
Portion of Long-Term Debts |
2,895,312,037 |
2,422,139,121 |
10,523,830,934 |
|
Deferred
Income Tax Credit |
954,703,918 |
1,712,121,401 |
4,499,443,987 |
|
Other
Current Liabilities |
234,430,896 |
28,236,063 |
13,462,028 |
|
Non-Current
Liabilities |
28,019,741,979 |
28,270,347,011 |
28,246,472,377 |
|
Long-Term
Borrowings |
7,398,008,108 |
7,988,213,819 |
25,955,744,237 |
|
Convertible Bonds |
17,289,420,464 |
17,146,947,961 |
0 |
|
Confirmed
Salaries |
3,071,558,075 |
2,874,429,899 |
2,047,751,184 |
|
Other
Non-Current Liabilities |
260,755,332 |
260,755,332 |
242,976,956 |
|
Capital
Stock |
4,240,725,500 |
4,240,725,500 |
4,032,112,500 |
|
Capital
Surplus |
32,271,873,632 |
32,271,873,632 |
28,336,937,897 |
|
Capital
Adjustment |
-6,212,427,001 |
-6,413,780,501 |
-2,488,952,701 |
|
Profit
Surplus |
67,757,222,714 |
68,997,115,174 |
46,032,372,487 |
|
Total
Equity |
98,057,394,845 |
99,095,933,805 |
75,912,470,183 |
|
Liab.
& Shareholder’s Equity |
213,061,149,802 |
198,122,683,613 |
169,146,215,676 |
|
Income Statement |
|||
|
Unit : Korean
Won |
01/01/2014~03/31/2014 |
As of
12/31/2013 |
As of
12/31/2012 |
|
Sales |
68,547,664,957 |
292,718,335,650 |
232,682,725,212 |
|
Cost
of Sold Goods |
60,283,376,828 |
245,364,002,275 |
195,528,588,466 |
|
Gross
Profit |
8,264,288,129 |
47,354,333,375 |
37,154,136,746 |
|
Selling
& Admin. Expenses |
5,860,249,463 |
22,202,659,416 |
20,388,475,021 |
|
Other
Income |
2,404,038,666 |
25,151,673,959 |
16,765,661,725 |
|
Finance
Income |
170,301,678 |
7,409,833,585 |
9,314,523,824 |
|
Finance
Expenses |
1,159,453,940 |
3,174,883,805 |
3,421,677,266 |
|
Other
Income |
1,478,997,167 |
5,177,703,730 |
3,061,434,666 |
|
Other
Expenses |
487,762,981 |
4,072,437,013 |
4,867,613,372 |
|
Income
Before Taxes |
2,406,120,590 |
30,491,890,456 |
20,852,329,577 |
|
Income
Taxes Expenses |
222,998,350 |
5,130,234,695 |
4,461,951,527 |
|
Net
Income |
2,183,122,240 |
25,361,655,761 |
16,390,378,050 |
|
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 |
-2,654,125,998 |
21,003,847,440 |
15,075,944,160 |
|
Cash
Flows from Operating |
-1,971,800,464 |
28,394,033,393 |
18,058,535,281 |
|
Net
Income |
2,183,122,240 |
25,361,655,761 |
16,390,378,050 |
|
Adjustment |
2,334,543,611 |
13,830,528,634 |
9,299,703,097 |
|
Changes
in Asset/ & Liability |
-6,489,466,315 |
-10,798,151,002 |
-7,631,545,866 |
|
Dividends
Received |
|
6,750,000 |
|
|
Interests
Received |
164,859,626 |
751,093,086 |
616,921,158 |
|
Interests
Paid |
-249,577,539 |
-1,532,223,334 |
-2,722,007,020 |
|
Income
Taxes |
-597,607,621 |
-6,615,805,705 |
-877,505,259 |
|
Cash
Flows from Investing |
-3,783,179,956 |
-38,407,282,636 |
-12,644,612,920 |
|
Cash
Flows from Financing |
9,957,224,642 |
5,754,142,077 |
1,952,231,192 |
|
Increase/Decrease
in Cash |
3,513,614,744 |
-11,649,293,205 |
4,311,516,347 |
|
Cash
at the Beginning of Year |
878,855,222 |
12,528,148,427 |
8,216,632,080 |
|
Cash
at the End of Year |
4,392,469,966 |
878,855,222 |
12,528,148,427 |
Products,
Technologies, Services Description
|
Main Products
& Services |
Touch Sensor, Lever Sensor, Chemicals |
|
Detailed
Products Spec. |
|
|
Technologies
Acquired |
|
Trade Partners &
Competitors
|
Suppliers |
SUNGJI ELECTRONICS CO., LTD.(1760110-068202) |
|
Customers |
SAMSUNG ELECTRONICS CO., LTD.(130111-0006246) SAMSUNG DISPLAY CO., LTD.(134511-0187812) |
|
Competitors |
ESTRONIX CO.,
LTD. RM. 403,
VENTURE INCUBATOR CENTER, KUMHO NATIONAL UNIVERSITY OF TECHNOLOGY, 1,
YANGHO-DONG, GUMI-SI, GYEONGSANGBUK-DO, KOREA TEL:+82-54-475-5190 FAX:+82-54-475-5191 SYNOPEX INC. 856,
SONGDONG-RI, DAESONG-MYEON, NAM-GU, POHANG-SI, GYEONGSANGBUK-DO, KOREA TEL:+82-54-289-4012 FAX:+82-54-278-6716 KORTEK
CORPORATION 1385-15, JUAN
5-DONG, NAM-GU, INCHEON, KOREA TEL:+82-32-860-3000 FAX:+82-32-862-6839 ATMEL,
CYPRESS, SYNAPTICS |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
TIANJIN
HYUPJIN CABLE CO., LTD.(CHINA) JINYANG
DEVELOPMENT CO., LTD.(KOREA) |
|
Overseas
Office |
|
|
Liaison Office |
|
|
Overseas
Branch |
|
|
Joint Venture |
|
|
Subsidiary |
TIANJIN
HYUPJIN ELECTRONICS CO., LTD.(CHINA) (100.0% held
by the subject company) CHEMTRONICS USA (100.0% held
by the subject company) CHEMTRONICS EUROPE S.R.O. (100.0% held
by the subject company) PT. CHEMTRONICS INDONESIA (99.0% held by
the subject company) HS SOLAR CO., LTD.(135511-0185683) (60.0% held by
the subject company) |
|
Corporate
Ownership |
|
|
Major
Shareholders |
|
|
Cooperative
Enterprise |
|
Sales by Region
(Activity & Markets)
The Subject
deals with the companies in China.
Court Action
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.48 |
|
|
1 |
Rs.100.93 |
|
Euro |
1 |
Rs.80.71 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.