|
Report Date : |
04.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
KISWEL CO., LTD. |
|
|
|
|
Registered Office : |
70, Saebyeok-ro 63beon-gil, Sasang-gu, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
10.09.1964 |
|
|
|
|
Com. Reg. No.: |
606-81-03615 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Manufacture of fabricated and processed metal products |
|
|
|
|
No. of Employees : |
289 |
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 : |
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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Source
: CIA |
Basic
|
Company Name |
KISWEL CO., LTD. (Korean Company Name : “고려용접봉(주)”) |
|
Registered
Address |
70, Saebyeok-ro 63beon-gil, Sasang-gu, (Old Address System : 721-3, Hakjang-dong, Sasang-gu, |
|
Building |
|
|
Zip Code |
617-843 |
|
Tel |
+82-51-317-3131~40 |
|
Fax |
+82-51-325-3627 |
|
E-mail |
master@kiswel.com |
|
Website |
www.kiswel.com |
|
Trading Address |
7FL., Heungkook Bldg., 43-1, Juja-dong, Jung-gu, |
|
Tel |
+82-2-2270-9400
+82-2-2270-9468 |
|
Fax |
+82-2-2272-7233~4
+82-2-2275-2826 |
|
Other Address-Changwon Factory |
58-2, Seongju-dong, Changwon-si, |
|
Tel |
+82-55-269-7200 |
|
Fax |
+82-55-285-1655 |
|
Other Address-Busan Office |
667-1, Buam-dong, Busanjin-gu, |
|
Tel |
+82-51-806-3133 |
|
Fax |
|
|
Type |
Export/Import |
|
Industry |
Manufacture of Other Fabricated and Processed Metal Products
n.e.c |
|
Main Business |
Welding Electrode, Flux Cored Wire |
|
Sub Business |
|
|
Established
(mm/dd/yyyy) |
09/10/1964 |
The Subject owns
the premises of registered HQ address and Changwon Factory.
Detailed Products
|
Activity |
Detailed
Products (UNSPSC) |
|
Sell |
Welding rods(23171512) |
|
Sell |
Welding wire(23171510) |
CEO’s
|
Name |
Hong Min-Chul |
|
Address |
8Ho, 330-356, Seongbuk-dong,
Seongbuk-gu, |
|
Date of Birth |
06/11/1951 |
|
Title |
Co-President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
990,000,000 |
||||||||||||
|
Employees |
289 |
||||||||||||
|
Formation |
Co., Ltd by shares Foreign Direct Investment Corporation |
||||||||||||
|
Bank Details |
Woori
Bank-Myung-Dong Branch |
||||||||||||
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Corporate
Registered No. |
180111-0011261 |
||||||||||||
|
Business
Registered No. |
606-81-03615 |
||||||||||||
|
Permit &
Licenses |
10/29/1998 KS Mark 09/1999 QS 9000 09/22/1999 ISO 14001 by UKAS 02/2005 ISO/TS
16949 Int’l Trade No.: 741455 |
||||||||||||
|
Shareholder
Position |
|
||||||||||||
|
Company
History |
09/10/1964
Incorporated as the present name 12/13/1970
Moved to the present HQ address from 21, Sogong-dong, Jung-gu, 11/26/1996
Awarded US$50 Million Export Top Prize 12/2008
Awarded US$100 Million Export Top Prize |
||||||||||||
|
|
|
Management
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
Co-President & CEO |
Mr. |
Hong Min-Chul |
Male |
Korean |
03/23/2001 |
|
Co-President & CEO |
Mr. |
Kim Duck-Hyun |
Male |
Korean |
05/26/2014 |
|
Director |
Mr. |
Lee Young-Rang |
Male |
Korean |
03/24/2012 |
|
Auditor |
Mr. |
Choi Ho-Seok |
Male |
Korean |
03/24/2006 |
|
Year / Unit :
KRW |
Sales |
Assets |
Net Income |
|
243,815,323,572 |
405,099,882,572 |
7,522,742,423 |
|
|
2012 |
297,116,394,664 |
402,203,225,827 |
14,039,279,877 |
|
2011 |
300,194,852,055 |
376,994,963,747 |
25,781,894,273 |
|
2010 |
232,608,544,974 |
325,256,195,932 |
35,610,480,538 |
|
2009 |
184,429,273,509 |
269,645,098,846 |
14,984,567,033 |
|
2008 |
240,267,484,538 |
260,596,073,245 |
29,403,304,006 |
|
2007 |
174,914,805,175 |
223,452,404,785 |
16,114,847,319 |
|
2006 |
162,174,931,673 |
199,120,057,270 |
12,149,157,022 |
|
2005 |
154,726,415,344 |
192,528,196,778 |
20,680,651,387 |
|
2004 |
143,137,784,279 |
169,976,489,352 |
11,874,881,749 |
Financial Description
|
Authorized
Capital(KRW) |
1,500,000,000 |
|
Paid-Up
Capital(KRW) |
990,000,000 |
|
Total Issued
Shares |
198,000 |
|
Balance Sheet |
|||
|
Unit : Korean
Won |
As of
12/31/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Total Assets |
405,099,882,572 |
402,203,225,827 |
376,994,963,747 |
|
Current Assets |
165,247,522,919 |
169,016,681,630 |
216,377,302,191 |
|
-Quick Assets |
129,304,964,418 |
131,447,328,942 |
172,365,301,153 |
|
-Inventories |
35,942,558,501 |
37,569,352,688 |
44,012,001,038 |
|
Fixed Assets |
239,852,359,653 |
233,186,544,197 |
160,617,661,556 |
|
-Investment |
172,106,861,450 |
170,299,419,508 |
98,211,057,001 |
|
-Tangibles |
63,280,986,904 |
57,986,321,365 |
57,534,871,988 |
|
-Intangibles |
|
|
|
|
-Others |
4,464,511,299 |
4,900,803,324 |
4,871,732,567 |
|
Total Liabilities |
47,928,742,594 |
41,974,480,725 |
52,588,523,930 |
|
Current
Liabilities |
28,947,189,611 |
20,437,791,059 |
36,154,228,801 |
|
Fixed
Liabilities |
18,981,552,983 |
21,536,689,666 |
16,434,295,129 |
|
Capital Stock |
990,000,000 |
990,000,000 |
990,000,000 |
|
Capital
Surplus |
44,965,971,981 |
44,965,971,981 |
44,965,971,981 |
|
Profit Surplus |
277,923,045,610 |
270,400,303,187 |
256,361,023,310 |
|
Capital
Adjustment |
33,292,122,387 |
43,872,469,934 |
22,089,444,526 |
|
Total Equity |
357,171,139,978 |
360,228,745,102 |
324,406,439,817 |
|
Liab. &
Shareholder’s Equity |
405,099,882,572 |
402,203,225,827 |
376,994,963,747 |
|
Current Liabilities |
28,947,189,611 |
20,437,791,059 |
36,154,228,801 |
|
Trade Payables |
21,173,361,634 |
14,949,664,467 |
26,093,068,774 |
|
Account Payables |
5,519,433,722 |
4,723,155,570 |
6,094,872,602 |
|
Advance Receipts |
1,052,714,419 |
505,707,276 |
87,932,896 |
|
Withholdings |
94,403,850 |
153,858,315 |
68,694,108 |
|
Accrued Income Tax |
964,407,914 |
- |
3,598,401,037 |
|
Deferred
Income Tax Credit |
142,868,072 |
105,405,431 |
211,259,384 |
|
Fixed
Liabilities |
18,981,552,983 |
21,536,689,666 |
16,434,295,129 |
|
Provision for Severance & Retirement |
12,479,864,000 |
11,594,814,500 |
10,627,811,400 |
|
Guarantee Deposit Withhold |
325,000,000 |
325,000,000 |
170,000,000 |
|
Deferred Income Tax Credit |
17,356,175,871 |
19,187,397,319 |
13,594,276,798 |
|
Income Statement |
|||
|
Unit : Korean
Won |
As of 12/31/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Sales |
243,815,323,572 |
297,116,394,664 |
300,194,852,055 |
|
Cost of Sold
Goods |
210,374,306,334 |
258,990,774,455 |
253,424,173,521 |
|
Gross Profit |
33,441,017,238 |
38,125,620,209 |
46,770,678,534 |
|
Selling &
Admin. Expenses |
25,459,149,310 |
26,329,430,135 |
25,279,310,517 |
|
Operating
Income |
7,981,867,928 |
11,796,190,074 |
21,491,368,017 |
|
Non-Operating
Income |
14,372,298,376 |
11,701,825,845 |
16,243,253,450 |
|
Non-Operating
Expenses |
12,377,645,232 |
6,701,964,523 |
4,976,421,962 |
|
Income Before
Taxes |
9,976,521,072 |
16,796,051,396 |
32,758,199,505 |
|
Income Taxes
Expenses |
2,453,778,649 |
2,756,771,519 |
6,976,305,232 |
|
Net Income |
7,522,742,423 |
14,039,279,877 |
25,781,894,273 |
|
Cash Flows |
|||
|
Unit : Korean
Won |
As of
12/31/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Cash Flows
from Operating |
19,287,522,515 |
12,451,465,558 |
8,101,961,788 |
|
-Net Income |
7,522,742,423 |
14,039,279,877 |
25,781,894,273 |
|
-Exp. without
Cash Outflow |
15,535,865,068 |
10,774,978,438 |
8,543,968,614 |
|
-Revenue
without Cash Inflows |
-7,642,224,323 |
-5,698,141,182 |
-8,985,531,587 |
|
-Changes in
Asset/ & Liability |
3,871,139,347 |
-6,664,651,575 |
-17,238,369,512 |
|
Cash Flows
from Investing |
-11,454,681,249 |
-17,351,228,637 |
-18,314,451,732 |
|
-Cash Inflow
from Investing |
104,679,921,752 |
91,694,483,571 |
60,467,122,149 |
|
-Cash Outflows
for Investing |
-116,134,603,001 |
-109,045,712,208 |
-78,781,573,881 |
|
Cash Flows
from Financing |
17,000,000 |
28,000,000 |
19,000,000 |
|
-Cash Inflows
from Financing |
17,000,000 |
28,000,000 |
19,000,000 |
|
-Cash Outflows
from Financing |
- |
- |
- |
|
Increase/Decrease
in Cash |
7,849,841,266 |
-4,871,763,079 |
-10,193,489,944 |
|
Cash at the
Beginning of Year |
19,489,079,410 |
24,360,842,489 |
34,554,332,433 |
|
Cash at the
End of Year |
27,338,920,676 |
19,489,079,410 |
24,360,842,489 |
Products,
Technologies, Services Description
|
Main Products
& Services |
Welding Electrode, Flux Cored Wire |
|
Detailed
Products Spec. |
|
|
Technologies
Acquired |
|
Trade Partners &
Competitors
|
Suppliers |
|
|
Customers |
SAMHWA STEEL CO., LTD.(180111-0085373) |
|
Competitors |
HYUNDAI WELDING
CO., LTD. 16TH FL.,
ILSONG BLDG., 157-37, SAMSEONG 1-DONG, GANGNAM-GU, TEL:+82-2-6230-6010 FAX:+82-2-598-6928 CHOSUN WELDING
CO., LTD. 865, TEL:+82-54-285-8221 FAX:+82-54-285-8543 PYUNGSAN
METALS CO., LTD. 5-4,
MULLAE-DONG 5-GA, YEONGDEUNGPO-GU, TEL:+82-2-2635-5454 FAX:+82-2-2635-5453 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
KOREA HEAT TREATMENT CO., LTD.(180111-0025014) (46.56% held by the subject company) KOREA OMEGA INVESTMENT ADVISORY CO., LTD.(110111-1551955) (38.23% held by the subject company) POS WELDING CO., LTD.(171711-0101079) (50.0% held by
the subject company) KISWEL (80.0% held by
the subject company) |
|
Overseas
Office |
|
|
Liaison Office |
|
|
Overseas
Branch |
|
|
Joint Venture |
|
|
Subsidiary |
KISWEL SDN BHD (100.0% held
by the subject company) KISWEL (100.0% held
by the subject company) KISWEL (100.0% held by
the subject company) KISWEL (100.0% held
by the subject company) |
|
Corporate
Ownership |
HONG MIN-CHUL |
|
Major
Shareholders |
HONG MIN-CHUL |
|
Cooperative |
-Insured
Company LIG INSURANCE CO., LTD.(110111-0017859) |
Sales by Region
(Activity & Markets)
The Subject
deals with the companies in
Court Action
No.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.75 |
|
|
1 |
Rs.100.07 |
|
Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
|
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.