|
Report Date : |
30.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
SAM YANG METAL
CO., LTD. |
|
|
|
|
Formerly Known As : |
Metal Plus Co.,
Ltd. |
|
|
|
|
Registered Office : |
51, Yangdongnonggongdanji-gil, Hanam-eup, Miryang-si, Gyeongsangnam-do, Zip code 627-895 |
|
|
|
|
Country : |
Korea (South) |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
02.01.2008 |
|
|
|
|
Com. Reg. No.: |
615-81-62243 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Manufacturer of Laminated Metal, Coating, Similar Treatment of Metals,
Film Lami(PEI/PVC Lami), Metal Lami(Cu-Lami, STS-Lami as well as
AL-Lami/Brass-Lami) |
|
|
|
|
No of Employees : |
54 |
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 |
|
|
|
|
Litigation : |
Exists |
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 |
|
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. 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 |
|
Company Name |
SAM YANG METAL
CO., LTD. (Korean Company Name : “(주)삼양메탈”) |
|
Registered
Address |
51, Yangdongnonggongdanji-gil, Hanam-eup,
Miryang-si, Gyeongsangnam-do |
|
Zip Code |
627-895 |
|
Tel |
+82-55-391-6633 |
|
Fax |
+82-55-391-6312 |
|
E-mail |
|
|
Website |
|
|
Trading
Address |
51, Yangdongnonggongdanji-gil,
Hanam-eup, Miryang-si, Gyeongsangnam-do, Korea (Old Address System : 178-1, Yangdong-ri,
Hanam-eup, Miryang-si, Gyeongsangnam-do, Korea) |
|
Tel |
+82-55-391-6633 |
|
Fax |
+82-55-391-6312 |
|
Type |
Export/Import |
|
Main
Business |
Manufacturer
of Laminated Metal, Coating, Similar Treatment of Metals, Film Lami(PEI/PVC
Lami), Metal Lami(Cu-Lami, STS-Lami as well as AL-Lami/Brass-Lami) |
|
Established (mm/dd/yyyy) |
01/02/2008 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Lamination film(44102001) |
|
Name |
Choi Sung-Hwan |
|
Address |
Suite 103-1803, 74, Gwajung-ro, Yeonje-gu,
Busan, Korea |
|
Date of Birth |
12/28/1959 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
1,000,000,000 |
||||||||||||||||||
|
Employees |
54 |
||||||||||||||||||
|
Formation |
Co.,
Ltd by Shares |
||||||||||||||||||
|
Bank Details |
Shinhan Bank-Sungsu Dong Branch Industrial Bank of Korea |
||||||||||||||||||
|
Corporate Registered No. |
180111-0617499 |
||||||||||||||||||
|
Business Registered No. |
615-81-62243 |
||||||||||||||||||
|
Permit & Licenses |
Int’l
Trade No.: 30694264 |
||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||
|
Company History |
01/02/2008 Incorporated as Metal Plus Co.,
Ltd. 03/31/2008 Moved to the present HQ address
from 1481-2, Songjeong-dong, Gangseo-gu, Busan, Korea 07/16/2010 Changed company name to the
present name 07/16/2010 Increased the authorized shares
to 2,400,000 shares from 800,000 shares 01/11/2011 Increased capital to
1,000,000,000 KRW(200,000 shares) from 10,000,000 KRW(2,000 shares) |
||||||||||||||||||
|
|
|
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
President
& CEO |
Mr. |
Choi Sung-Hwan |
Male |
Korean |
01/02/2013 |
|
Director |
M/S. |
Eo Won-Kyung |
Female |
Korean |
06/14/2012 |
|
Director |
Mr. |
Cho Ho-Yong |
Male |
Korean |
12/10/2012 |
|
Auditor |
Mr. |
Kim Koo-Sub |
Male |
Korean |
03/15/2014 |
|
Year / Unit
: KRW |
Sales |
Assets |
Net Income |
|
22,678,647,187 |
16,155,738,293 |
-2,940,093,824 |
|
|
2012 |
11,279,777,135 |
14,987,329,886 |
-5,806,997,714 |
|
2011 |
5,316,325,956 |
14,716,490,879 |
-5,703,150,733 |
|
2010 |
5,704,607,794 |
13,708,673,712 |
-3,694,997,153 |
|
2009 |
2,346,284,127 |
14,895,626,648 |
-4,791,849,021 |
|
2008 |
- |
14,454,392,217 |
-748,601,193 |
|
Authorized Capital(KRW) |
12,000,000,000 |
|
Paid-Up Capital(KRW) |
1,000,000,000 |
|
Total Issued Shares |
200,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of
12/31/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Total Assets |
16,155,738,293 |
14,987,329,886 |
14,716,490,879 |
|
Current Assets |
7,619,981,088 |
5,780,513,172 |
4,601,740,033 |
|
-Quick
Assets |
3,092,320,701 |
2,275,585,251 |
1,864,332,081 |
|
-Inventories |
4,527,660,387 |
3,504,927,921 |
2,737,407,952 |
|
Fixed
Assets |
8,535,757,205 |
9,206,816,714 |
10,114,750,846 |
|
-Investment |
- |
3,000,000 |
- |
|
-Tangibles |
8,510,125,871 |
9,169,059,963 |
10,083,928,095 |
|
-Intangibles |
1,531,334 |
10,656,751 |
19,808,751 |
|
-Others |
24,100,000 |
24,100,000 |
11,014,000 |
|
Total Liabilities |
34,861,579,891 |
30,753,077,660 |
24,675,240,939 |
|
Current Liabilities |
7,911,435,432 |
27,456,759,100 |
20,476,302,360 |
|
Fixed Liabilities |
26,950,144,459 |
3,296,318,560 |
4,198,938,579 |
|
Capital Stock |
1,000,000,000 |
1,000,000,000 |
1,000,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
-19,695,689,638 |
-16,755,595,814 |
-10,948,598,100 |
|
Capital Adjustment |
-10,151,960 |
-10,151,960 |
-10,151,960 |
|
Total Equity |
-18,705,841,598 |
-15,765,747,774 |
-9,958,750,060 |
|
Liab. &
Shareholder’s Equity |
16,155,738,293 |
14,987,329,886 |
14,716,490,879 |
|
Current Liabilities |
7,911,435,432 |
27,456,759,100 |
20,476,302,360 |
|
Trade
Payables |
2,252,777,295 |
1,749,819,802 |
558,701,122 |
|
Account
Payables |
309,101,820 |
322,131,980 |
307,249,200 |
|
Withholdings |
19,733,180 |
12,246,330 |
9,387,758 |
|
Advance
Receipts |
- |
35,962,000 |
- |
|
Short-Term
Borrowings |
4,100,000,000 |
22,149,673,568 |
17,416,673,568 |
|
Accrued
Expenses |
311,663,137 |
2,268,765,420 |
1,241,390,712 |
|
Current
Portion of Long-Term Debts |
918,160,000 |
918,160,000 |
942,900,000 |
|
Fixed Liabilities |
26,950,144,459 |
3,296,318,560 |
4,198,938,579 |
|
Long-Term
Borrowings |
23,349,613,568 |
3,218,100,000 |
4,136,260,000 |
|
Long-Term
Accrued Expenses |
3,370,383,389 |
- |
- |
|
Provision
for Severance & Retirement |
230,147,502 |
78,218,560 |
62,678,579 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of
12/31/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Sales |
22,678,647,187 |
11,279,777,135 |
5,316,325,956 |
|
Cost of Sold Goods |
22,887,454,333 |
14,748,974,873 |
9,164,748,636 |
|
Gross Profit |
-208,807,146 |
-3,469,197,738 |
-3,848,422,680 |
|
Selling & Admin. Expenses |
644,990,597 |
611,307,567 |
586,560,277 |
|
Operating Income |
-853,797,743 |
-4,080,505,305 |
-4,434,982,957 |
|
Non-Operating Income |
189,085,755 |
24,223,320 |
392,594,037 |
|
Non-Operating Expenses |
2,275,381,836 |
1,750,715,729 |
1,660,761,813 |
|
Income Before Taxes |
-2,940,093,824 |
-5,806,997,714 |
-5,703,150,733 |
|
Income Taxes Expenses |
- |
- |
- |
|
Net Income |
-2,940,093,824 |
-5,806,997,714 |
-5,703,150,733 |
Cash Flows
|
|||
|
Unit : Korean Won |
As of
12/31/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Cash Flows from Operating |
-1,962,773,558 |
-3,785,146,211 |
-5,456,714,015 |
|
-Net Income |
-2,940,093,824 |
-5,806,997,714 |
-5,703,150,733 |
|
-Exp. without Cash Outflow |
2,493,018,337 |
1,251,124,773 |
1,577,710,811 |
|
-Revenue without Cash Inflows |
-4,399,000 |
- |
-7,555,898 |
|
-Changes in Asset/ & Liability |
-1,511,299,071 |
770,726,730 |
-1,323,718,195 |
|
Cash Flows from Investing |
-236,578,159 |
-263,910,491 |
-262,255,820 |
|
-Cash Inflow from Investing |
7,400,000 |
6,914,000 |
- |
|
-Cash Outflows for Investing |
-243,978,159 |
-270,824,491 |
-262,255,820 |
|
Cash Flows from Financing |
2,081,840,000 |
3,790,100,000 |
5,924,362,875 |
|
-Cash Inflows from Financing |
3,000,000,000 |
4,733,000,000 |
11,899,322,875 |
|
-Cash Outflows from Financing |
-918,160,000 |
-942,900,000 |
-5,974,960,000 |
|
Increase/Decrease in Cash |
-117,511,717 |
-258,956,702 |
205,393,040 |
|
Cash at the Beginning of Year |
154,350,722 |
413,307,424 |
207,914,384 |
|
Cash at the End of Year |
36,839,005 |
154,350,722 |
413,307,424 |
(*)The Subject needs to be monitored because Income Before
Taxes are (-)2,940,000,000 KRW as of 12/31/2013, and Total Current Liabilities
exceed Total Current Assets as much as 291,000,000 KRW, and Total Liabilities exceed
Total Assets as much as 18,705,000,000 KRW.
|
Main Products & Services |
Laminated
Metal, Coating, Similar Treatment of Metals, Film Lami(PEI/PVC Lami), Metal
Lami(Cu-Lami, STS-Lami as well as AL-Lami/Brass-Lami) |
|
Competitors |
LAMI ACE CORP. 7-7, GOMAK-RI, WOLGOT-MYEON, GIMPO-SI,
GYEONGGI-DO, KOREA TEL:+82-31-987-9495 FAX:+82-31-987-9496 K-LAMI CO., LTD. 847-2, HWAHYEON-RI, HWAHYEON-MYEON, POCHEON-SI,
GYEONGGI-DO, KOREA TEL:+82-31-531-9430~1 FAX:+82-31-531-9433 ALPET CORPORATION 169-2, JINGA-RI, MOGA-MYEON, ICHEON-SI,
GYEONGGI-DO, KOREA TEL:+82-31-631-8121 FAX:+82-31-631-8124 |
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
HWASUNG CO., LTD.(110111-0280282) SUNGHONG S&W CO., LTD.(110111-3112044) SAMYANG CHEMICAL INDUSTRIES CO., LTD.(184911-0009769) SAMYANG
CHEMICAL CORPORATION(110111-0568878) |
|
Corporate Ownership |
SUNGHONG S&W CO., LTD.(110111-3112044) |
|
Major Shareholders |
SUNGHONG S&W CO., LTD.(110111-3112044) |
(Activity & Markets)
Not Available.
|
Case No. |
Court |
Plaintiff(s)/ Creditor(s)/ Applicant(s) |
Defendant(s)/ Debtor(s)/ Respondent(s) |
Cause |
Amount (KRW) |
Status |
|
|
Supreme
Court of Korea |
The
Subject Company |
TAS ENGINEERING CO., LTD.(184511-0022084) |
Cancellation
of Right on fixed collateral |
- |
3rd
round is proceeding |
|
|
Busan
High Court |
The
Subject Company |
You
Jin-Il |
Claim
for Compensation from Damages |
- |
2nd
round is proceeding |
|
|
Changwon
District Court |
Yeo
Min-Ki & Others(2) |
The
Subject Company |
Claim
for Compensation from Damages |
39,000,000 |
1st
round is proceeding |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.10 |
|
UK Pound |
1 |
Rs.102.40 |
|
Euro |
1 |
Rs.81.88 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.