|
Report Date : |
08.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
SINWON INDUSTRIAL CO., LTD. |
|
|
|
|
Registered Office : |
546, Poseunggongdansunhwan-ro,
Poseung-eup, Pyeongtaek-si, Gyeonggi-do, Korea |
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|
|
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Country : |
South Korea |
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|
|
|
Financials (as on) : |
31.12.2013 |
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|
|
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Date of Incorporation : |
07.09.2001 |
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|
|
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Com. Reg. No.: |
125-81-39496 |
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|
|
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Legal Form : |
Company Limited By Shares |
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|
|
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Line of Business : |
Manufacture of All Other Chemical Products |
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|
|
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No of Employees : |
34 |
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 |
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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 – 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 |
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Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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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 |
|
Company Name |
SINWON INDUSTRIAL CO., LTD. (Korean Company Name : “신원산업(주)”) |
|
Registered Address |
546, Poseunggongdansunhwan-ro, Poseung-eup,
Pyeongtaek-si, Gyeonggi-do, Korea |
|
Building |
|
|
Zip Code |
451-822 |
|
Tel |
+82-31-684-6688 |
|
Fax |
+82-31-682-6055 |
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E-mail |
odh3528@daum.net |
|
Website |
www.swchem.co.kr |
|
Trading Address |
546, Poseunggongdansunhwan-ro, Poseung-eup,
Pyeongtaek-si, Gyeonggi-do, Korea (Old Address System : 1203-4, Wonjeong-ri,
Poseung-eup, Pyeongtaek-si, Gyeonggi-do, Korea) |
|
Tel |
+82-31-684-6688 |
|
Fax |
+82-31-682-6055 |
|
Other Address |
|
|
Tel |
|
|
Fax |
|
|
Type |
Export/Import |
|
Industry |
Manufacture of All Other Chemical Products n.e.c. |
|
Main Business |
Chemicals |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
09/07/2001 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Gel stabilizers(12161807) |
|
Sell |
Flame
retardants(12162100) |
|
Sell |
Anti oxidants(12162200) |
|
Sell |
Plasticizers(12162000) |
|
Name |
Kim Jung-Saeng |
|
Address |
Suite 901-202, 96, Eco jungang-ro,
Namdong-gu, Incheon, Korea |
|
Date of Birth |
09/02/1948 |
|
Title |
President & CEO |
|
Sex |
Female |
|
Nationality |
Korean |
|
Capital (KRW) |
404,500,000 |
|||||||||||||||||||||
|
Employees |
34 |
|||||||||||||||||||||
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Formation |
Co., Ltd by Shares |
|||||||||||||||||||||
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Bank Details |
Kookmin Bank Korea Exchange Bank Hana Bank |
|||||||||||||||||||||
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Corporate Registered No. |
131311-0038450 |
|||||||||||||||||||||
|
Business Registered No. |
125-81-39496 |
|||||||||||||||||||||
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Permit & Licenses |
08/2008 ISO 9001 Int’l Trade No.: 45039562 |
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Shareholder Position |
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Company History |
09/07/2001 Incorporated as the present name 02/12/2003 Moved to the present HQ address
from 1000-806, Wonjeong-ri, Poseung-eup, Pyeongtaek-si, Gyeonggi-do, Korea 09/2008 Designated as an INNO-BIZ Company 12/26/2008 Increased the authorized shares to 1,000,000 shares from
80,000 shares 12/27/2008 Increased capital to 404,500,000 KRW from 100,000,000 KRW 11/2010 Awarded US$ 3 Million Export Top
Prize |
|||||||||||||||||||||
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|
|
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
M/S. |
Kim Jung-Saeng |
Female |
Korean |
03/13/2014 |
|
Director |
Mr. |
Song Sung-Hyup |
Male |
Korean |
01/13/2009 |
|
Director |
Mr. |
Song Sung-In |
Male |
Korean |
01/13/2009 |
|
Auditor |
Mr. |
Song Woun-Keun |
Male |
Korean |
05/27/2011 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2013 |
16,091,133,531 |
10,268,605,116 |
1,110,597,927 |
|
2012 |
13,497,535,129 |
11,125,593,971 |
395,097,016 |
|
Authorized Capital(KRW) |
5,000,000,000 |
|
Paid-Up Capital(KRW) |
404,500,000 |
|
Total Issued Shares |
80,900 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Total Assets |
10,268,605,116 |
11,125,593,971 |
|
|
Current Assets |
7,162,653,521 |
5,782,316,559 |
|
|
-Quick Assets |
6,303,317,941 |
4,845,743,661 |
|
|
-Inventories |
859,335,580 |
936,572,898 |
|
|
Fixed Assets |
3,105,951,595 |
5,343,277,412 |
|
|
-Investment |
2,000,000 |
2,000,000 |
|
|
-Tangibles |
2,952,211,595 |
5,169,535,412 |
|
|
-Intangibles |
|
|
|
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-Others |
151,740,000 |
171,742,000 |
|
|
Total Liabilities |
4,891,692,117 |
6,920,949,599 |
|
|
Current Liabilities |
2,223,338,167 |
3,722,757,529 |
|
|
Fixed Liabilities |
2,668,353,950 |
3,198,192,070 |
|
|
Capital Stock |
404,500,000 |
404,500,000 |
|
|
Capital Surplus |
1,057,424,967 |
1,057,424,967 |
|
|
Profit Surplus |
3,914,988,032 |
2,742,719,405 |
|
|
Capital Adjustment |
|
|
|
|
Total Equity |
5,376,912,999 |
4,204,644,372 |
|
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Liab. & Shareholder’s Equity |
10,268,605,116 |
11,125,593,971 |
|
|
Current Liabilities |
2,223,338,167 |
3,722,757,529 |
|
|
Trade Payables |
574,300,895 |
660,409,331 |
|
|
Account Payables |
456,170,511 |
466,875,249 |
|
|
Advance Receipts |
22,718,341 |
19,826,160 |
|
|
Withholdings |
51,150,428 |
35,452,133 |
|
|
Accrued Expenses |
100,379,503 |
128,788,484 |
|
|
Deferred Income Tax Credit |
88,203,739 |
57,317,827 |
|
|
Short-Term Borrowings |
- |
1,238,673,595 |
|
|
Short-Term Borrowings to Shareholders/ Executives/ Employees |
930,414,750 |
930,414,750 |
|
|
Current Portion of Long-Term Debts |
- |
185,000,000 |
|
|
Fixed Liabilities |
2,668,353,950 |
3,198,192,070 |
|
|
Long-Term Borrowings |
2,500,000,000 |
3,055,000,000 |
|
|
Provision for Severance & Retirement |
228,353,950 |
143,192,070 |
|
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Sales |
16,091,133,531 |
13,497,535,129 |
|
|
Cost of Sold Goods |
13,465,173,143 |
11,628,069,415 |
|
|
Gross Profit |
2,625,960,388 |
1,869,465,714 |
|
|
Selling & Admin. Expenses |
1,149,870,977 |
1,150,153,104 |
|
|
Operating Income |
1,476,089,411 |
719,312,610 |
|
|
Non-Operating Income |
188,462,486 |
110,476,612 |
|
|
Non-Operating Expenses |
430,010,831 |
335,150,409 |
|
|
Income Before Taxes |
1,234,541,066 |
494,638,813 |
|
|
Income Taxes Expenses |
123,943,139 |
99,541,797 |
|
|
Net Income |
1,110,597,927 |
395,097,016 |
|
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Cash Flows from Operating |
3,163,733,260 |
1,373,281,106 |
|
|
-Net Income |
1,110,597,927 |
395,097,016 |
|
|
-Exp. without Cash Outflow |
2,553,804,554 |
1,619,607,420 |
|
|
-Revenue without Cash Inflows |
-10,180,818 |
-57,221,723 |
|
|
-Changes in Asset/ & Liability |
-490,488,403 |
-584,201,607 |
|
|
Cash Flows from Investing |
487,595,558 |
-4,794,791,818 |
|
|
-Cash Inflow from Investing |
652,181,818 |
- |
|
|
-Cash Outflows for Investing |
-164,586,260 |
-4,794,791,818 |
|
|
Cash Flows from Financing |
-1,978,673,595 |
3,138,475,384 |
|
|
-Cash Inflows from Financing |
500,000,000 |
3,515,975,384 |
|
|
-Cash Outflows from Financing |
-2,478,673,595 |
-377,500,000 |
|
|
Increase/Decrease in Cash |
1,672,655,223 |
-283,035,328 |
|
|
Cash at the Beginning of Year |
292,157,129 |
575,192,457 |
|
|
Cash at the End of Year |
1,964,812,352 |
292,157,129 |
|
|
Main Products & Services |
Synthetic Chemicals |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
NAM & NAM EUROPE GMBH FRANKFURTER STR. 63-69 D-65760 ESCHBORN
GERMANY TEL.: +49 6196 99856 0 (DIR.: 14) FAX: +49
6196 99856 10 |
|
Customers |
|
|
Competitors |
CHEMA INTERNATIONAL CORP. RM. 503, SAMYANG BLDG., 404-5, GALHYEON
1-DONG, EUNPYEONG-GU, SEOUL, KOREA TEL:+82-2-358-8508~9 FAX:+82-2-358-5005 POLYPLUS CO., LTD. 645-2, WOLHA-DONG, YEOSU-SI, JEOLLANAM-DO,
KOREA TEL:+82-61-685-6121 FAX:+82-61-685-4332 KANGSHIN INDUSTRIAL CO., LTD. GANGSIN BLDG., 167, DONGSEONDONG 2-GA,
SEONGBUK-GU, SEOUL, KOREA TEL:+82-2-920-4000 FAX:+82-2-929-8900 |
|
Affiliates |
SINWON CHEMICAL
CO., LTD.(110111-0542955) |
|
Cooperative Enterprise |
-Insured Company HANWHA GENERAL INSURANCE CO., LTD.(110111-0006456) |
Not Available.
No.
-----
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.52 |
|
|
1 |
Rs.97.39 |
|
Euro |
1 |
Rs76.15 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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.