|
Report Date : |
23.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
UNID CO., LTD. |
|
|
|
|
Registered Office : |
17th Fl., Ferum Tower., 19 Eulji-ro 5-gil, Jung-gu, Seoul, Korea
100-210 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
10.05.1980 |
|
|
|
|
Com. Reg. No.: |
104-81-24846 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Densified and Reconstituted Wood |
|
|
|
|
No. of Employees |
432 |
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 31st, 2014
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
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 |
Basic
|
Company Name |
UNID CO., LTD. |
|
Registered Address |
66, Suha-dong, Jung-gu, Seoul, Korea (New Address System : 17th Fl., Ferum Tower., 19 Eulji-ro 5-gil,
Jung-gu, Seoul, Korea) |
|
Building |
17th Fl., Ferum Tower. |
|
Zip Code |
100-210 |
|
Tel |
+82-2-3709-9500 |
|
Fax |
+82-2-774-7591 |
|
E-mail |
jypark@unid.co.kr |
|
Website |
www.unid.co.kr |
|
Trading Address |
17th Fl., Ferum Tower., 66, Suha-dong, Jung-gu, Seoul, Korea |
|
Tel |
+82-2-3709-9500 |
|
Fax |
+82-2-774-7591 |
|
Other Address-Mokpo Office |
1422, Sanjeong-dong, Mokpo-si, Jeollanam-do, Korea |
|
Tel |
+82-61-242-3416 |
|
Fax |
+82-61-245-0142 |
|
Other Address-Incheon Plant |
223-85, Seongnam 2-dong, Seo-gu, Incheon, Korea |
|
Tel |
+82-32-584-0900 |
|
Fax |
+82-32-584-0905 |
|
Other Address-Gunsan Factory |
437, Soryong-dong, Gunsan-si, Jeollabuk-do, Korea |
|
Tel |
+82-63-460-5114 |
|
Fax |
+82-63-460-5150 |
|
Other Address-Incheon Factory |
587-84, Hagik 1-dong, Nam-gu, Incheon, Korea |
|
Tel |
+82-32-830-7777 |
|
Fax |
+82-32-832-4491 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Densified and Reconstituted Wood |
|
Main Business |
Medium Density Fiber Board, Sawn Wood, Material Lumber, Potassium
Carbonate, Caustic Potassium, Liquid Chlorine, Hydrochloric Acid |
|
Sub
Business |
Manufacture of Other Basic Inorganic Chemicals |
|
Established (mm/dd/yyyy) |
05/10/1980 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Inorganic hydroxides(12352305) |
|
Sell |
Structural products(30103600) |
|
Name |
Lee Wha-Young |
|
Date of Birth |
05/16/1951 |
|
Title |
Chairman & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
32,925,345,000 |
||||||||||||||||||||||||||||||||||||||||||
|
Employees |
432 |
||||||||||||||||||||||||||||||||||||||||||
|
Formation |
Listed Company (Korea Stock Exchange : 014830) as of 12/03/2004 A company of OCI GROUP |
||||||||||||||||||||||||||||||||||||||||||
|
Bank Details |
Shinhan Bank-Sogong Dong Branch |
||||||||||||||||||||||||||||||||||||||||||
|
Corporate Registered No. |
110111-0275069 |
||||||||||||||||||||||||||||||||||||||||||
|
Business Registered No. |
104-81-24846 |
||||||||||||||||||||||||||||||||||||||||||
|
Permit & Licenses |
11/2010 ISO 9001 01/2005 KS Mark 12/2003 ISO 9001 12/2003 ISO 9002 03/1997 ISO 9002 12/08/1995 ISO 9002 Int’l Trade No.: 974538 |
||||||||||||||||||||||||||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||||||||||||||||||||||||||
|
Company History |
05/10/1980 Incorporated as HANKUK CARI
CHEMICAL CO., LTD. 08/1995 Changed company name to the present
name 11/2009 Awarded US$ 100 Million Export Top
Prize 07/2011 Moved to the present HQ address
from 50,
Sogong-dong, Jung-gu, Seoul, Korea |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Nationality |
Date of Birt6h |
Education |
|
Chairman & CEO |
Mr. |
Lee Wha-Young |
Korean |
1951.05.16 |
University of OHIO State |
|
President & CEO |
Mr. |
Jung Eui-Seung |
Korean |
1958.02.20 |
Chungang University, Korea |
|
Director |
Mr. |
Jung Hoon-Mo |
Korean |
1961.03 |
- |
|
Director |
Mr. |
Choi Choon-Keun |
Korean |
1950.01 |
- |
|
Director |
Mr. |
Choi Song-Hak |
Korean |
1962.10 |
- |
|
Auditor |
Mr. |
Lee Chul |
Korean |
1949.09.19 |
Seoul National University, Korea |
|
Outside Director |
Mr. |
Byun Chan-Eui |
Korean |
1945.01.07 |
Seoul National University, Korea |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
520,831,778,098 |
741,735,355,985 |
26,103,433,983 |
|
|
(*)2012 |
504,648,899,268 |
720,927,488,716 |
9,862,528,136 |
|
(*)2011 |
622,356,931,383 |
790,662,234,890 |
49,908,204,363 |
|
(*)2010 |
474,345,030,647 |
587,133,925,387 |
60,882,044,843 |
|
2009 |
444,220,070,000 |
461,455,629,000 |
35,196,733,000 |
|
2008 |
486,413,813,000 |
556,124,602,000 |
63,409,886,000 |
(*)Figures are
based on the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
125,000,000,000 |
|
Paid-Up Capital(KRW) |
32,925,345,000 |
|
Total Issued Shares |
6,585,069 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Total Assets |
741,735,355,985 |
720,927,488,716 |
790,662,234,890 |
|
Current Assets |
313,678,059,556 |
217,284,938,488 |
314,254,091,126 |
|
Cash & Cash Equivalents |
112,249,687,118 |
20,243,393,570 |
48,653,092,904 |
|
Current Financial Instruments |
25,200,000,000 |
21,542,852,500 |
20,000,000,000 |
|
Other Current Financial
Instruments |
7,005,396,000 |
2,081,990,000 |
4,026,470,000 |
|
Trade Receivables & Other
Receivables |
97,689,059,586 |
91,785,087,156 |
153,086,185,302 |
|
Marketable Financial Instruments |
0 |
820,958,811 |
709,474,897 |
|
Held-to-Maturity Financial Assets |
144,440,000 |
282,905,000 |
17,265,000 |
|
Inventories |
67,066,770,987 |
72,932,664,444 |
84,040,416,836 |
|
Other Finance Assets |
567,885,820 |
466,364,795 |
157,674,676 |
|
Other Current Assets |
2,410,825,984 |
5,629,182,212 |
3,563,511,511 |
|
Non-Current Assets to be Sold |
1,343,994,061 |
1,499,540,000 |
|
|
Non-Current Assets |
428,057,296,429 |
503,642,550,228 |
476,408,143,764 |
|
Long-Term Financial Instruments |
5,500,000 |
5,500,000 |
5,500,000 |
|
Long-Term Trade Receivables &
Other Receivables |
150,000,000 |
150,000,000 |
0 |
|
Marketable Financial Instruments |
33,038,290,310 |
90,835,193,815 |
83,077,559,270 |
|
Held-to-Maturity Financial Assets |
387,275,000 |
481,420,000 |
747,740,000 |
|
Investment_Related Companies |
101,870,043,739 |
106,518,142,912 |
110,447,275,614 |
|
Tangibles |
281,733,211,673 |
293,270,562,112 |
265,169,451,368 |
|
Investment_Real Estates |
2,850,626,466 |
5,239,291,044 |
8,809,767,310 |
|
Intangibles |
5,155,137,726 |
5,117,755,452 |
6,443,120,174 |
|
Other Non-Current Financial
Instruments |
1,416,631,080 |
1,399,327,798 |
1,053,335,442 |
|
Other Non-Current Assets |
1,450,580,435 |
625,357,095 |
654,394,586 |
|
Total Liabilities |
306,905,848,646 |
290,780,325,322 |
369,467,702,396 |
|
Current Liabilities |
195,658,056,267 |
135,368,717,775 |
224,451,899,218 |
|
Other Current Financial Debts |
0 |
127,744,830 |
0 |
|
Trade Payables & Other
Payables |
40,494,048,547 |
46,712,281,035 |
57,727,670,479 |
|
Short-Term Borrowings |
141,236,945,964 |
85,445,948,620 |
162,020,412,067 |
|
Accrued Income Tax |
12,266,387,604 |
1,986,965,998 |
1,534,263,023 |
|
Other Current Financial Debts |
71,022,374 |
69,902,479 |
|
|
Other Current Liabilities |
1,589,651,778 |
1,025,874,813 |
3,169,553,649 |
|
Non-Current Liabilities |
111,247,792,379 |
155,411,607,547 |
145,015,803,178 |
|
Long-Term Borrowings |
90,883,537,340 |
122,432,047,470 |
112,701,427,910 |
|
Provision for Severance &
Retirement |
4,225,999,378 |
6,787,901,987 |
5,615,613,164 |
|
Deferred Income Tax Credit |
12,269,836,512 |
21,715,541,984 |
23,958,333,489 |
|
Provisions |
363,293,457 |
349,628,877 |
336,478,263 |
|
Other Financial Debts |
2,247,229,609 |
2,394,348,158 |
781,494,797 |
|
Other Non-Current Liabilities |
1,257,896,083 |
1,732,139,071 |
1,622,455,555 |
|
Capital Stock |
32,925,345,000 |
32,925,345,000 |
32,925,345,000 |
|
Installments |
12,984,870,913 |
9,212,778,433 |
12,069,925,933 |
|
Profit Surplus |
379,984,646,042 |
356,320,312,577 |
352,220,099,372 |
|
Others |
8,934,645,384 |
31,688,727,384 |
23,979,162,189 |
|
Total Equity |
434,829,507,339 |
430,147,163,394 |
421,194,532,494 |
|
Liab. & Shareholder’s Equity |
741,735,355,985 |
720,927,488,716 |
790,662,234,890 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Sales |
520,831,778,098 |
504,648,899,268 |
622,356,931,383 |
|
Cost of Sold Goods |
414,107,132,311 |
408,153,986,144 |
508,521,192,383 |
|
Gross Profit |
106,724,645,787 |
96,494,913,124 |
113,835,739,000 |
|
Selling Expenses |
57,619,995,858 |
53,626,395,840 |
42,242,020,958 |
|
Admin. Expenses |
13,365,713,824 |
11,792,766,830 |
11,898,952,555 |
|
R&D |
3,748,636,210 |
5,442,266,598 |
3,724,779,877 |
|
Operating Income |
31,990,299,895 |
25,633,483,856 |
55,969,985,610 |
|
Finance Income |
13,780,383,779 |
10,245,161,722 |
20,793,561,482 |
|
Finance Expenses |
16,859,676,623 |
12,468,031,077 |
21,066,934,192 |
|
Profits from investment on
Related Companies |
-13,374,769,888 |
-3,677,690,450 |
|
|
Non-Operating Income |
30,067,266,837 |
12,813,322,056 |
6,737,506,142 |
|
Non-Operating Expenses |
7,963,599,892 |
20,520,901,730 |
2,003,589,354 |
|
Income Before Taxes |
37,639,904,108 |
12,025,344,377 |
60,430,529,688 |
|
Income Taxes Expenses |
11,536,470,125 |
2,162,816,241 |
10,522,325,325 |
|
Net Income |
26,103,433,983 |
9,862,528,136 |
49,908,204,363 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Operating Activities Cash Flows |
40,164,773,634 |
96,875,651,204 |
-36,643,325,617 |
|
Cash Flows from Operating |
47,660,904,058 |
108,438,792,601 |
-17,402,219,007 |
|
Dividends Received |
571,591,721 |
1,399,337,805 |
964,951,151 |
|
Interests Received |
4,010,013,214 |
2,674,278,556 |
3,860,056,861 |
|
Interests Paid |
-7,666,806,858 |
-9,359,217,772 |
-3,617,495,809 |
|
Income Taxes |
-4,410,928,501 |
-6,277,539,986 |
-20,448,618,813 |
|
Cash Flows from Investing |
25,998,938,881 |
-52,979,397,890 |
-133,679,026,430 |
|
Cash Flows from Financing |
25,861,704,998 |
-72,304,138,654 |
154,988,750,942 |
|
Increase/Decrease in Cash |
92,025,417,513 |
-28,407,885,340 |
-15,333,601,105 |
|
Cash at the Beginning of Year |
20,243,393,570 |
48,653,092,904 |
63,800,415,913 |
|
Cash at the End of Year |
112,249,687,118 |
20,243,393,570 |
48,653,092,904 |
|
Main Products & Services |
Medium Density Fiber Board, Sawn Wood, Material Lumber, Potassium
Carbonate, Caustic Potassium, Liquid Chlorine, Hydrochloric Acid Brand Name : UNIDBOARD |
|
Suppliers |
CANPOTEX RAYONIER SAMCHULLY CO., LTD.(110111-0005929) OCI CORPORATION(110111-1072159) DAESUNG WOOD IND.CO., LTD.(120111-0018524) |
|
Customers |
|
|
Competitors |
DONGWHA ENTERPRISE CO.,
LTD.(120111-0327933) 150-14, GAJWA 1-DONG, SEO-GU, INCHEON,
KOREA TEL:+82-32-580-5161~4 TEL:+82-32-577-0056 HANSOL HOMEDECO CO., LTD.(110111-0825624) 27TH FL., KOREA SPECIALTY CONTRACTOR
CENTER, 395-70, SINDAEBANG 2-DONG, DONGJAK-GU, SEOUL, KOREA TEL:+82-2-3284-3812~4 TEL:+82-2-3284-3838~9 UNID CO.,LTD.(110111-0275069) 17TH FL., ORIENTAL CHEMICAL INDUSTRIES
BLDG., 50, SOGONG-DONG, JUNG-GU, SEOUL, KOREA TEL:+82-2-3709-9500 FAX:+82-2-774-7591 SUNCHANG CORPORATION(110111-0027593) 6-32, BUKSEONG-DONG 1-GA, JUNG-GU, INCHEON,
KOREA TEL:+82-32-770-3000 FAX:+82-32-763-3171 |
|
Affiliates |
OCI CORPORATION(110111-1072159) OCI COMPANY LTD.(174611-0000981) DC CHEMICAL CO.,LTD (174611-0000981) SAMKWANG GLASS IND CO.,LTD (110111-0079817) UNION CORPORATION(110111-0200579) ETEC E&C LIMITED(110111-0327555) DONG YANG SILICONE COMPANY
LIMITED(110111-0586375) DC-FERRO CO LTD(110111-2410233) BULLSONE(110111-2187676) ORDEG CO. ,LTD.(110111-0407357) OCI INFORMATION &
COMMUNICATION(110111-1443780) EYANG CHEMICAL CO., LTD.(110111-0506216) SHIN YOUNG WOOD CO., LTD(110111-1083643) ITVMEDIA(110111-1691446) GUNJANG ENERGY CO., LTD.(211111-0014332) REGENDARY SOFT CO., LTD. SEOUL VIDEO VENTURE BUSINESS ASSOCIATES |
|
Subsidiary |
UNID(JIANGSU)CHEMICAL CO., LTD.(CHINA) #88 YINSHAN-ROAD, NEW ZONE, ZHENJIANG, JIANGSU, CHINA OCI(GUANGZHOU) CHEMICAL LTD.(CHINA) DATIAN INDUSTRY AREA, ZHONGFU ROAD,ZHONGXIN ZENGCHENG, GUANGZHOU,
GUANGDONG, CHINA UNID LED CO., LTD.(110111-4593623) |
|
Cooperative Enterprise |
-Insured Company SAMSUNG FIRE & MARINE INSURANCE CO., LTD.(110111-0005078) |
|
Sales/ Unit :Thousand KRW |
2013 |
2012 |
2011 |
|
Export |
262,267,362 |
268,692,856 |
373,516,055 |
|
Domestic |
258,564,416 |
235,956,043 |
248,840,877 |
|
Total |
520,831,778 |
504,648,899 |
622,356,932 |
The Subject deals with the companies in
China, Japan, Malaysia and Singapore.
Not Available
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.57 |
|
UK Pound |
1 |
Rs.98.87 |
|
Euro |
1 |
Rs.80.05 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
PDT |
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.