|
Report Date : |
01.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
STX HEAVY INDUSTRIES CO., LTD. |
|
|
|
|
Formerly Known As : |
STX METAL CO., LTD |
|
|
|
|
Registered Office : |
381, Nammyeon-ro, Seongsan-gu, Changwon-si, Gyeongsangnam-do, Korea |
|
|
|
|
Country : |
South
Korea |
|
|
|
|
Financials (as on) : |
30.06.2014 |
|
|
|
|
Date of Incorporation : |
15.06.2001 |
|
|
|
|
Com. Reg. No.: |
609-81-48213 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Internal Combustion Piston Engines |
|
|
|
|
No. of Employees : |
1,217 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 435,283.85 |
|
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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. 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 |
STX HEAVY INDUSTRIES CO., LTD. (Ex. Company Name : STX METAL CO., LTD., STX메탈(주)”) (Korean Company Name : “STX중공업(주)”) |
|
Registered Address |
381, Nammyeon-ro, Seongsan-gu, Changwon-si, Gyeongsangnam-do, Korea |
|
Zip Code |
641-050 |
|
Tel |
+82-55-282-1131 |
|
Fax |
+82-55-284-8200 |
|
E-mail |
sdlee285@stxenpaco.co.kr;hj4018@stxenpaco.co.kr |
|
Website |
www.stxhi.co.kr |
|
Trading Address |
381, Nammyeon-ro, Seongsan-gu, Changwon-si, Gyeongsangnam-do, Korea (Old Address System : 452-7, Nae-dong, Changwon-si, Gyeongsangnam-do,
Korea) |
|
Tel |
+82-55-282-1131 |
|
Fax |
+82-55-284-8200 |
|
Other Address-Shinchon Factory |
67-14, Sinchon-dong, Changwon-si, Gyeongsangnam-do, Korea |
|
Tel |
+82-55-239-3822 |
|
Fax |
+82-55-239-3888 |
|
Type |
Import/Export |
|
Industry |
Manufacture of Internal Combustion Piston Engines |
|
Main Business |
Turbocharger, Cylinder Block, Cylinder Head, Piston, Camshaft,
Connecting Rod, Crankshaft, Cylinder Liner |
|
Established (mm/dd/yyyy) |
06/15/2001 |
The Subject owns the premises of registered
HQ address.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Turbocharger(26101720) |
|
Sell |
Connecting rods(26101711) |
|
Sell |
Machine tools(23171600) |
|
Sell |
Camshaft(26101903) |
|
Sell |
Marine craft systems and subassemblies(25111900) |
|
Sell |
Crankshaft(26101749) |
|
Sell |
Cylinder block(26101905) |
|
Sell |
Pistons(26101736) |
|
Sell |
Cylinder liners(26101764) |
|
Sell |
Engine components and accessories(26101700) |
|
Buy |
Cushioning supplies(24141600) |
|
Buy |
Governors(26101766) |
|
Buy |
Pumps(40151500) |
|
Buy |
Oil dip sticks or tubes(26101725) |
|
Buy |
Pistons(26101736) |
|
Buy |
Motor starter controls(39121521) |
CEO’s
|
Name |
Chung Tae-Hwa |
|
Date of Birth |
08/11/1952 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
285,772,542,500 |
|||||||||||||||||||||||||||
|
Employees |
1,217 |
|||||||||||||||||||||||||||
|
Formation |
Listed Company(Korea Stock Exchange : 071970) as of 05/15/2009 Foreign Direct Investment Corporation A Company of STX Group |
|||||||||||||||||||||||||||
|
Bank Details |
Korea Development Bank-Changwon Branch Woori Bank-Chungbu Branch Shinhan Bank |
|||||||||||||||||||||||||||
|
Corporate Registered No. |
194211-0048381 |
|||||||||||||||||||||||||||
|
Business Registered No. |
609-81-48213 |
|||||||||||||||||||||||||||
|
Permit & Licenses |
07/12/2001 EM Mark Int’l Trade No.: 11924865 |
|||||||||||||||||||||||||||
|
Shareholder Position |
|
|||||||||||||||||||||||||||
|
Company History |
03/21/2014 Stopped to exchange the subject’s Stocks due to Impaired
Capital by the Regulation of Korea Stock Exchange 12/03/2013 Increased capital to 285,772,542,500
KRW from 108,567,542,500 KRW 09/12/2013 Agreed on Execution on Management Normalization with
Institutional Creditors’ Management 05/06/2013 Applied for Institutional Creditors’ Management 01/03/2013 Changed company name to the present name after acquiring
STX HEAVY INDUSTRIES CO., LTD.(194111-0009004) 03/25/2010 Changed company name to STX METAL CO., LTD. 07/2006 Won the "Korean World-class Product Award 2006"
(Crankshaft for Medium Size Marine Diesel Engine) 06/2005 Won the "Korean World-class Product Award 2005"
(Turbo-Charger for Medium Size Marine Diesel Engine) 04/2005 Designated as An Affiliated of Business Group by Fair Trade
Commission, Korea 01/2005 Changed company name to STX ENPACO. CO., LTD. 06/2004 Technical alliance for submerged cargo oil pump (Kosaka,
Japan) 05/2004 Technical alliance for TCA turbocharger (MBD, Germany) 04/2004 Completion of setting up machine for Big-size Cyl. liner of
low speed engine 04/2004 Completion of setting up machine for Big-size Block of low
speed engine 04/2004 Completion of setting up machine for Crank shaft of medium
& big size engine 02/2004 Acquired patent (Technology for friction welding of between
two kinds of materials by unique process development & standardization) 08/2003 Designated as a “specialized parts & materials
manufacturer”by the Ministry of
Commerce, Industry & Energy 06/2003 Designated as company with “Excellence in Technology”by Korea Technology Credit Guarantee Fund 08/2002 Designated as a “Venture company” by the Small & Medium
Business Administration 01/2002 Completed dedicated fabrication line for large capacity
turbocharger 11/2001 Designated as “Inno-Biz Corporation”(Innovative Technology
Business) 06/2001 Enpaco founded (Spun off from STX materials business division) 12/1998 Selected as one of Top 30 Excellent Informationalization
Company by the Ministry of Communications 02/1997 Completed low speed diesel engine factory 04/1996 Acquired ISO 9001 certification 11/1994 Launched environmental facilities business 09/1994 Selected as one of Top 100 Quality Management Company by the
Industrial Advancement Administration 04/1994 Reached cumulative production of 10 million horsepower in
diesel engine 02/1993 Acquired ISO 9002 international quality certification 09/1990 Initial Public Offering 05/1989 Established engine technology research & development
center 11/1988 Completed dedicated special purpose engine factory 05/1988 Designated as First Class Quality Management Factory by the
Industrial Advancement Administration 10/1980 Designated as diesel engine manufacturer specializing in
medium-size diesel engine 12/1978 Completed manufacturing facilities 07/1977 Designated as a defense industry contractor by the Ministry of
Commerce & Industry 12/1976 Company founded (currently STX) |
Management
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
President & CEO |
Mr. |
Chung Tae-Hwa |
Korean |
1952.08.11 |
Seoul National University, Korea |
|
Outside Director |
Mr. |
Shim Sang-Woon |
Korean |
1952.02. |
Chunbuk National University, Korea |
|
Director |
Mr. |
Choi Si-Bong |
Korean |
1955.01. |
Korea University, Korea |
|
Auditor |
Mr. |
Kim Jung-Joon |
Korean |
1949.05. |
Dongah University, Korea |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
409,989,208,838 |
1,592,851,021,643 |
-39,513,314,564 |
|
|
(*)2013 |
1,084,749,455,954 |
1,827,325,996,889 |
-580,046,551,244 |
|
(*)2012 |
1,400,267,910,275 |
2,001,398,343,187 |
-32,629,343,122 |
|
(*)2011 |
1,686,602,479,378 |
1,878,817,920,256 |
40,615,552,857 |
|
2010 |
955,036,395,221 |
1,064,928,475,640 |
8,508,333,723 |
|
2009 |
1,001,464,759,296 |
835,409,255,037 |
32,027,814,372 |
|
2008 |
1,021,414,681,695 |
693,674,062,909 |
51,175,781,436 |
|
2007 |
702,076,330,195 |
342,042,228,119 |
37,497,592,023 |
|
2006 |
464,070,376,713 |
263,748,177,681 |
8,366,978,207 |
|
2005 |
405,266,680,721 |
226,934,683,029 |
4,243,366,751 |
|
2004 |
405,620,722,705 |
248,078,421,485 |
4,290,818,370 |
|
2003 |
248,988,092,949 |
219,153,120,534 |
(-)7,716,805,920 |
(*)Figures are
based on the K-IFRS Accounting System.
Financial
Description
|
Authorized Capital(KRW) |
500,000,000,000 |
|
Paid-Up Capital(KRW) |
285,772,542,500 |
|
Total Issues Shares |
114,309,017 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
01/01/2014~06/30/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total Assets |
1,592,851,021,643 |
1,827,325,996,889 |
2,001,398,343,187 |
|
Current Assets |
663,355,728,556 |
875,233,745,262 |
905,847,853,574 |
|
Cash & Cash Equivalents |
89,166,243,140 |
16,684,146,257 |
11,260,363,889 |
|
Other Financial Assets |
6,660,882,541 |
141,517,818,260 |
125,320,542,507 |
|
Marketable Financial Instruments |
0 |
0 |
66,600,000,000 |
|
Derivatives |
1,305,791,093 |
6,010,591,873 |
7,594,979,224 |
|
Confirmed Agreement |
0 |
6,254,042,171 |
30,579,458,748 |
|
Account Receivables |
189,173,432,919 |
366,289,400,703 |
313,815,227,969 |
|
Other Receivables-Construction |
40,196,647,614 |
51,216,723,055 |
25,521,104,227 |
|
Inventories |
161,160,241,735 |
139,679,330,076 |
196,242,554,885 |
|
Advance Payments |
46,010,451,373 |
44,257,973,258 |
61,205,513,737 |
|
Prepaid Expenses |
3,565,460,525 |
13,768,078,449 |
24,435,695,276 |
|
Other Receivables |
118,421,955,252 |
83,990,201,730 |
43,272,413,112 |
|
Prepaid Taxes |
7,694,622,364 |
5,565,439,430 |
|
|
Non-Current Assets to be Sold |
|
1,581,750,000 |
|
|
Non-Current Assets |
929,495,293,087 |
950,510,501,627 |
1,095,550,489,613 |
|
Investment_Real Estate |
116,383,785,777 |
117,069,317,025 |
|
|
Other Financial Assets |
10,013,500,000 |
10,013,500,000 |
140,992,610,721 |
|
Marketable Financial Instruments |
401,955,102 |
621,207,202 |
637,252,100 |
|
Derivatives |
0 |
0 |
243,446,049 |
|
Investment_Related Companies |
6,274,358,970 |
13,454,776,693 |
295,852,283,239 |
|
Other Receivables |
20,863,552,156 |
18,008,939,424 |
11,101,225,598 |
|
Other Long-Term Receivables |
4,164,127,294 |
4,143,079,620 |
140,985,610,721 |
|
Other Non-Current Assets |
984,924,610 |
2,484,924,610 |
|
|
Tangibles |
740,489,930,161 |
753,136,383,853 |
485,960,878,892 |
|
Intangibles |
29,919,159,017 |
31,578,373,200 |
19,777,182,293 |
|
Total Liabilities |
1,499,621,924,965 |
1,694,583,585,647 |
1,654,609,622,583 |
|
Current Liabilities |
703,688,230,674 |
906,549,633,296 |
1,397,155,213,890 |
|
Trade Payables |
242,180,617,366 |
309,663,643,430 |
573,622,196,862 |
|
Other Payables-Construction |
53,963,430,453 |
53,591,000,759 |
132,565,494,267 |
|
Advance Receipts |
140,596,508,471 |
111,731,422,214 |
209,542,104,228 |
|
Account Payables |
99,760,953,584 |
62,869,982,690 |
79,275,588,518 |
|
Accrued Expenses |
12,894,547,777 |
20,107,608,655 |
18,212,565,973 |
|
Short-Term Borrowings |
92,581,200,189 |
230,442,060,029 |
304,933,079,810 |
|
Current Portion of Long-Term
Debts |
0 |
0 |
25,897,700,000 |
|
Current Portion of Debentures |
54,970,983,405 |
44,926,871,114 |
|
|
Current Portion of Finance Lease
Account Payables |
0 |
0 |
17,419,088,626 |
|
Derivatives |
0 |
0 |
624,354,843 |
|
Confirmed Agreement |
0 |
5,509,394,802 |
27,817,845,608 |
|
Other Current Liabilities |
6,504,063,778 |
67,211,200,042 |
7,084,300,327 |
|
Accrued Income Tax |
|
|
160,894,828 |
|
Provisions |
235,925,651 |
496,449,561 |
|
|
Non-Current Liabilities |
795,933,694,291 |
788,033,952,351 |
257,454,408,693 |
|
Long-Term Borrowings |
716,549,221,811 |
693,051,065,071 |
144,788,015,721 |
|
Debentures |
0 |
10,000,000,000 |
79,756,516,951 |
|
Convertible Bonds |
39,955,396,352 |
38,041,199,783 |
|
|
Long-Term Account Payables |
2,887,502,217 |
2,563,387,894 |
|
|
Confirmed Agreement |
|
|
243,446,049 |
|
Other Non-Current Liabilities |
|
|
968,761,770 |
|
Provisions |
466,230,537 |
2,704,542,623 |
967,830,809 |
|
Deferred Income Tax Credit |
32,647,050,676 |
38,704,388,455 |
30,729,837,393 |
|
Confirmed Salaries |
3,428,292,698 |
2,969,368,525 |
|
|
Capital Stock |
285,772,542,500 |
285,772,542,500 |
52,817,542,500 |
|
Capital Surplus |
250,652,452,325 |
250,652,452,325 |
113,736,544,174 |
|
Capital Adjustment |
-669,002,076 |
-669,002,076 |
|
|
Others |
25,306,205,190 |
25,306,205,190 |
25,306,205,190 |
|
Profit Surplus |
-467,833,101,261 |
-428,319,786,697 |
154,928,428,740 |
|
Total Equity |
93,229,096,678 |
132,742,411,242 |
346,788,720,604 |
|
Liab. & Shareholder’s Equity |
1,592,851,021,643 |
1,827,325,996,889 |
2,001,398,343,187 |
|
Income Statement |
|||
|
Unit : Korean Won |
01/01/2014~06/30/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
409,989,208,838 |
1,084,749,455,954 |
1,400,267,910,275 |
|
Cost of Sold Goods |
385,457,521,542 |
1,090,040,031,131 |
1,266,391,315,510 |
|
Gross Profit |
24,531,687,296 |
-5,290,575,177 |
133,876,594,765 |
|
Selling & Admin. Expenses |
31,631,991,189 |
170,535,793,495 |
81,834,817,064 |
|
Operating Income |
-7,100,303,893 |
-175,826,368,672 |
52,041,777,701 |
|
Other Income |
7,944,004,389 |
250,491,124,611 |
10,832,086,153 |
|
Other Expenses |
9,245,277,591 |
547,424,944,045 |
18,228,112,927 |
|
Finance Income |
33,375,588,353 |
134,110,647,896 |
121,905,768,312 |
|
Finance Expenses |
68,318,219,388 |
266,253,376,418 |
209,988,667,663 |
|
Income Before Taxes |
-43,344,208,130 |
-604,902,916,628 |
-43,437,148,424 |
|
Income Taxes Expenses |
-3,830,893,566 |
-24,856,365,384 |
-10,807,805,302 |
|
Net Income |
-39,513,314,564 |
-580,046,551,244 |
-32,629,343,122 |
|
Cash Flows |
|||
|
Unit : Korean Won |
01/01/2014~06/30/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Operating Activities Cash Flows |
-55,376,762,479 |
-480,595,561,744 |
476,928,311,510 |
|
Net Income |
-39,513,314,564 |
-580,046,551,244 |
-32,629,343,122 |
|
Cash Flows from Operating |
-13,966,317,325 |
101,397,701,680 |
509,655,915,524 |
|
Interests Received |
2,303,169,057 |
2,331,791,337 |
2,681,644,776 |
|
Dividends Received |
155,327,500 |
134,233,610 |
46,747,400 |
|
Income Taxes |
-4,355,627,147 |
-4,412,737,127 |
-2,826,653,068 |
|
Cash Flows from Investing |
130,691,575,506 |
156,616,043,992 |
-406,516,220,658 |
|
Cash Flows from Financing |
-2,796,694,954 |
329,417,066,482 |
-74,664,171,408 |
|
Increase/Decrease in Cash |
72,482,096,883 |
5,423,782,368 |
-4,273,427,276 |
|
Cash at the Beginning of Year |
16,684,146,257 |
11,260,363,889 |
15,533,791,165 |
|
Cash at the End of Year |
89,166,243,140 |
16,684,146,257 |
11,260,363,889 |
|
Main Products & Services |
Cylinder Block Crank Shaft Cylinder Liner Turbo Charger Cylinder Head Piston Cam Shaft Connecting Rod Cargo Pump System H.F.O Supply Unit Purifier System |
|
Suppliers |
HYUNJIN MATERIALS CO., LTD.(180111-0062008) POSCO SPECIALTY STEEL CO., LTD.(194211-0025248) YONGHYUNBMCO., LTD.(180111-0414837) HYUNDAI HEAVY INDUSTRIES CO., LTD.(181211-0000386) MAN DIESEL A/S MIBA GLEITLAGER GMBH QINGDAO STX MACHINERY |
|
Customers |
STX OFFSHORE & SHIPBUILDING CO.,LTD.(180111-0002814) MOE ENI IRAQ B.V. STX ELECTRIC POWER CO., LTD.(144711-0019225) STX ENGINE CO,. LTD.(194211-0066763) |
|
Competitors |
SEKWANG CO., LTD 914-8, WORAM-DONG, DALSEO-GU, DAEGU, KOREA TEL:+82-53-583-7901 FAX:+82-53-583-7904 DOOSAN ENGINE CO., LTD. 69-3, SINCHON-DONG, CHANGWON-SI,
GYEONGSANGNAM-DO, KOREA TEL:+82-55-260-6000 FAX:+82-55-282-0588 KSP CO., LTD. 1658-6, SONGJEONG-DONG, GANGSEO-GU, BUSAN,
KOREA TEL:+82-51-831-6270~9 FAX:+82-51-831-6273 |
|
Affiliates-Domestic |
STX CORPORATION(194211-0000183) STX PAN OCEAN CO., LTD.(110111-0004286) STX OFFSHORE & SHIPBUILDING CO.,
LTD.(180111-0002814) STX ENGINE CO., LTD.(194211-0066763) STX HEAVY INDUSTRIES CO.,
LTD.(194111-0009004) STX ENERGY CO., LTD.(135011-0121570) STX CONSTRUCTION CO., LTD.(194111-0009939) STX SOLAR CO., LTD.(110111-3788671) STX RESORT CORPORATION(110111-3794644) FORCE TEC CO., LTD.(194211-0019522) HEUNG KOOK MUTUAL SAVINGS
BANK(180111-0010255) SAEROM SUNGWON INDUSTRIAL CO.,
LTD.(194211-0004523) CXD CO., LTD.(194111-0012685) CHEIL A&C CO., LTD.(110111-3159351) |
|
Affiliates-Overseas |
STX NORWAY AS STX EUROPE AS STX(DAIRYIAN) SHIPBUILDING CO., LTD.(CHINA) STX(DAIRYIAN) PRECISION CO., LTD. (CHINA) STX(DAIRYIAN) OFFSHORE & HEAVY
INDUSTRIES CO., LTD.(CHINA) STX(DAIRYIAN) ENGINE CO., LTD.(CHINA) STX(DAIRYIAN) METAL CO., LTD.(CHINA) STX(DAIRYIAN) HEAVY INDUSTRIES CO.,
LTD.(CHINA) STX(DAIRYIAN) HEAVY EQUIPMENT CO.,
LTD.(CHINA) STX CONSTRUCTION(DAIRYIAN) CO., LTD.(CHINA) STX(DAIRYIAN) INFORMATION & TECHNOLOGY
CO., LTD.(CHINA) DAIRYIAN STUS A&C CO., LTD.(CHINA) POSI(DAIRYIAN) LOGISTICS CO., LTD.(CHINA) STX(DAIRYIAN) TRADING CO., LTD.(CHINA) STX BANGJISAN DEVELOPMENT (DAIRYIAN) CO.,
LTD. (CHINA) STX-VINA HEAVY INDUSTRY CO., LTD STX HEAVY INDUSTRIES(MUSOON) CO.,
LTD.(CHINA) STX MONGOLIA LLC STX CITINET, LLC. STX MIDDLE EAST FZE. STX (SHANGHAI) CORPORATION LTD. STX BRASIL TRADING LTDA. STX AMERICA INC. STX PANOCEAN (AMERICA), INC. STX PANOCEAN SINGAPORE PTE. LTD. STX GULF SHIPPING DMCCO STX LOGISTICS SINGAPORE PTE. LTD. STX PANOCEAN LNG PTE. LTD. STX PANOCEAN (HONG KONG) CO., LTD. STX PANOCEAN (U.K) CO., LTD. DTK OCEANIC LIMITED STX JAPAN CORPORATION STX GLOBAL LOGIX CO.,LTD. STX PANOCEAN (CHINA) CO., LTD. QINGDAO STX INTERNATIONAL LOGISTICS CO.,
LTD. QINGDAO STX-KEYUN LOGISTICS CO., LTD TIANJIN STX-SINOTRANS LOGISTICS CO., LTD. SEA WIN SHIPPING CO., LTD. LIANYUNGANG GLOBAL OCEAN SHIPPING CO., LTD. FAR EASTERN SHIPYARD-STX DS CEMENT LLP STX WINDPOWER B.V. QINGDAO STX MACHINERY CO., LTD. SP/F STX FAROES LTD. STX IRELAND LIMITED STX ENERGY AMERICA, INC. ORION STORY STX ENGINEERING & CONSTRUCTION GHANA
LIMITED YOUNEX ENTERPRISES CORPORATION STX APRILIS, INC |
|
Affiliates-Subsidiaries of STX EUROPE |
STX EUROPE HOLDING AS STX NORWAY OFFSHORE AS STX NORWAY OFFSHORE BREVIK AS STX GRENLAND INDUSTRIER AS STX SHIPYARD SUPPORT AS HJALLUM AS STX BREVIK SUPPORT AS BRIDGE EIENDOM AS SCANDINOR AS STX RO OFFSHORE BRAILA SA BRAILA SHIP REPAIR SA AJA SHIP DESIGN SA STX RO BREVIK HOLDING SRL RONOR AS NORYARDS AS SCANROM SRL VENTIGROS SRL NORFARM SRL STX NORWAY ELECTRO AS STX RO ELECTRO TULCEA SRL STX BRAZIL ELECTRO STX RO ELECTRO BRAILA SRL STX NORWAY ELECTRO BREVIK AS STX ELECTRO BREVIK AS STX BREVIK PHILADELPHIA STX BRAZIL OFFSHORE SA STX RO HOLDING SRL STX RO OFFSHORE TULCEA SRL STX SCANYARDS SRL STX BRATTVAAG OFFSHORE MARITIME SRL STX SINGAPORE OFFSHORE PTE. LTD. STX VIETNAM OFFSHORE LTD. JOHNSEN MARITIME AS JOHNSEN MARITIME TULCEA SRL STX NORWAY OFFSHORE DESIGN AS STX NORWAY PIPESERVICE AS STX FRANCE HOLDING AS STX FRANCE SA STX FRANCE LORIENT SAS STX FRANCE SOLUTIONS SAS STX FRANCE LNG TECHOLOGY SAS STX FRANCE CABINS SAS STX NORWAY FLORØ AS AFS ELEKTRO AS STX NORWAY DESIGN FLORØ AS KRAMFORS ASA AKER BRAVO AS STX EUROPE TECHNOLOGY AS STX FINLAND OY STX FINLAND CABINS OY STX USA LIFECYCLE SERVICES INC. AKER ARTIC TECHNOLOGY OY SHIPBUILDING COMPLETION OY NEMARC SHIPPING OY TECHNOLOGY DESIGN AND ENG'ND OY STX CANADA MARINE INC. STX US MARINE INC. |
|
Overseas Office |
STX ENPACO DENMARK-HOLEBY, DENMARK ØSTERVEJ 2 DK 4970 HOLEBY TEL:+45 54691401 FAX:+45 54691409 STX METAL QINGDAO LONG QUAN 3ROAD NORTHERN INDUSTRIAL PARK
QING DAO, CHINA TEL:+86 532 8653 9511 FAX:+86 532 8653 9512 |
|
Subsidiary |
CHEIL ENGINEERING CO., LTD.(110111-0564024) ILSEUNG CO., LTD.(184611-0036728) STX HEAVY INDUSTRIES AUSTRALIA PTY LTD TERRACE EAST PERTH WA 6004, AUSTRALIA STX WINDPOWER B.V 8219 PK LELYSTAD THE NETHERLANDS STX HI MALAYSIA SDN. BHD. KOTA KINABALU, SABAH, MALAYSIA |
|
Corporate Ownership |
STX ENGINE CO., LTD.(194211-0066763) |
|
Major Shareholders |
STX ENGINE CO.,
LTD.(194211-0066763) |
|
Cooperative Enterprise |
-Technical Support from MAN B&W DIESEL A/S(TURBO CHARGER) KOSAKA(CARGO PUMP SYSTEM) |
|
Sales/ Unit :Mil KRW |
09/2010 |
2009 |
2008 |
|
Export |
102,682 |
143,347 |
78,744 |
|
Domestic |
519,061 |
858,118 |
942,671 |
|
Total |
621,743 |
1,001,465 |
1,021,415 |
The Subject deals with the companies in China and Denmark.
|
Case No. |
Court |
Plaintiff(s)/ Creditor(s)/ Applicant(s) |
Defendant(s)/ Debtor(s)/ Respondent(s) |
Cause |
Amount (Thousand KRW) |
Status |
|
|
Seoul Central District Court, Korea |
- |
Ex. Executives(Mr. Kang Duck-Soo / Mr. Lee Hee-Bum) |
Charging with dereliction of duty |
101,448,000 |
They were convicted by Seoul Central District Court, Korea as of
10/30/2014. |
|
F20130723 |
China International Economic and
Trade Arbitration Commission |
China Traffic Bank |
The Subject Company |
|
56,873,045 |
The Subject has been convicted to
pay the amount within 15 days as of 07/07/2014. |
|
|
Seoul Central District Court, Korea |
Seah E&T(Korea) |
The Subject Company |
Claim for Compensation from Damages |
4,008,879 |
Proceeding |
|
|
Seoul Central District Court, Korea |
PT Kanlangmas wunggul |
The Subject Company |
Receivables |
1,529,859 |
Proceeding |
|
|
Korean Commercial Arbitration Board |
Sukook Co., Ltd.(Korea) |
The Subject Company |
Claim for Compensation from Damages |
1,710,485 |
Proceeding |
|
|
Changwon District Court, Korea |
D&S Co., Ltd.(Korea) |
The Subject Company |
Refund of Inappropriate Profits |
1,000,000 |
Proceeding |
|
|
Changwon District Court, Korea |
ISM CO., LTD.(Korea) |
The Subject Company |
Receivables |
1,591,492 |
Proceeding |
|
|
Korean Commercial Arbitration Board |
The Subject & STX HI Malaysia Sdn.Bhd |
Eco Biomass Energy Sdn. Bhd. |
Claim for Compensation from Damages |
USD 8,617,000 |
Proceeding |
|
|
Hamburg District Court, Germany |
The Subject Company |
Czech Precision |
Claim for Compensation from Damages |
EUR 2,988,000 |
Proceeding |
News Clipping
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.41 |
|
UK Pound |
1 |
Rs.98.06 |
|
Euro |
1 |
Rs.77.19 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SHG |
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.