|
Report Date : |
14.10.2014 |
IDENTIFICATION DETAILS
|
Correct Name : |
BAIKSAN OPC CO.,
LTD. |
|
|
|
|
Registered Office : |
45-10, Yongsomal-gil, Deoksan-myeon, Jincheon-gun, Chungcheongbuk-do,
Korea, 365-843 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
30.06.2014 |
|
|
|
|
Date of Incorporation : |
15.02.1994 |
|
|
|
|
Com. Reg. No.: |
301-81-20927 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Other Peripheral Apparatuses like Laser Beam Printer
OPC Drum, Laser Beam Printer Gear |
|
|
|
|
No of Employees : |
204 |
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 but correct |
|
Litigation : |
Exist |
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 |
|
Company Name |
BAIKSAN OPC CO.,
LTD. (Korean Company Name : “(주)백산오피씨”) |
|
Registered Address |
45-10, Yongsomal-gil, Deoksan-myeon, Jincheon-gun, Chungcheongbuk-do,
Korea |
|
Building |
|
|
Zip Code |
365-843 |
|
Tel |
+82-43-536-7561~4 |
|
Fax |
+82-43-536-7557 |
|
E-mail |
hanp98@kornet.net |
|
Website |
www.baiksanopc.com |
|
Trading Address |
45-10, Yongsomal-gil, Deoksan-myeon, Jincheon-gun, Chungcheongbuk-do,
Korea (Old Address System : 282, Yongmong-ri, Deoksan-myeon, Jincheon-gun,
Chungcheongbuk-do, Korea) |
|
Tel |
+82-43-536-7561~4 |
|
Fax |
+82-43-536-7557 |
|
Other Address-Factory |
321, Hapmok-ri, Deoksan-myeon, Jincheon-gun, Chungcheongbuk-do, Korea |
|
Tel |
+82-43-530-7687 |
|
Fax |
+82-43-537-2231 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Other Peripheral Apparatuses |
|
Main Business |
Laser Beam Printer OPC Drum, Laser Beam Printer Gear |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
02/15/1994 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Printer or facsimile or photocopier drums(44103109) |
|
Sell |
Packaging tubes and cores and labels and accessories(24141700) |
|
Buy |
Printer and facsimile and photocopier supplies(44103100) |
|
Buy |
Photographic processing chemicals(45141500) |
|
Buy |
Packaging boxes(24121503) |
|
Buy |
General purpose cleaners(47131805) |
|
Buy |
Aluminum plate(30102206) |
|
Buy |
Packaging films(24141514) |
|
Buy |
Gears(31171700) |
|
Name |
Kim Sang-Hwa |
|
Address |
|
|
Date of Birth |
04/08/1940 |
|
Title |
Chairman & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
7,650,000,000 |
|||||||||||||||||||||||||||||||||
|
Employees |
204 |
|||||||||||||||||||||||||||||||||
|
Formation |
Listed Company (KOSDAQ : 066110 ) as of 07/12/2002 A Company of BAIKSAN CO.,LTD.(114711-0003729) |
|||||||||||||||||||||||||||||||||
|
Bank Details |
Shinhan Bank-Seogyo Dong Corporate Finance
Branch |
|||||||||||||||||||||||||||||||||
|
Corporate Registered No. |
110111-1011561 |
|||||||||||||||||||||||||||||||||
|
Business Registered No. |
301-81-20927 |
|||||||||||||||||||||||||||||||||
|
Permit & Licenses |
11/2001 ISO 9001 07/2002 ISO 14001 Int’l Trade No.: 11203223 |
|||||||||||||||||||||||||||||||||
|
Shareholder Position |
|
|||||||||||||||||||||||||||||||||
|
Company History |
02/15/1994 Incorporated as Han Precision
Industry Co., Ltd. 07/1996 Changed company name to Baiksan Han
Precision Co., Ltd. 05/2000 Designated as a Venture Business 02/2002 Changed company name to the present
name 09/04/2008 Designated as a Venture Business
again 11/2010 Awarded US$ 50 Million Export Top
Prize 06/18/2013 Designated Dishonesty Disclosure
Company due to delayed disclosure on Court Action and Application |
|||||||||||||||||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
Chairman & CEO |
Mr. |
Kim Sang-Hwa |
Korean |
1940. 04.08 |
- |
|
President |
Mr. |
Kim Young-Bok |
Korean |
1944. 07.10 |
Korea University, Korea |
|
Executive Director |
Mr. |
Hwang Young-Ho |
Korean |
1958. 08.18 |
Yonsei University, Korea |
|
Executive Director |
Mr. |
Lee Bum-Jin |
Korean |
1962. 09.02 |
Inha University, Korea |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
16,435,472,030 |
62,053,861,303 |
-6,112,230,889 |
|
|
(*)2013 |
43,093,574,308 |
64,623,500,597 |
-26,954,368,217 |
|
(*)2012 |
51,981,855,612 |
78,347,330,803 |
-2,125,311,894 |
|
2011 |
53,129,426,064 |
78,340,934,858 |
-4,138,042,597 |
|
2010 |
63,002,198,166 |
71,801,818,876 |
5,279,959,586 |
|
2009 |
68,572,960,247 |
66,219,417,150 |
7,169,897,798 |
|
2008 |
51,649,478,123 |
72,844,293,273 |
-14,088,024,813 |
(*)Figures are based on the K-IFRS Accounting
System.
|
Authorized Capital(KRW) |
15,000,000,000 |
|
Paid-Up Capital(KRW) |
7,650,000,000 |
|
Total Issues Shares |
15,300,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
01/01/2014~06/30/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total Assets |
62,053,861,303 |
64,623,500,597 |
78,347,330,803 |
|
Current Assets |
22,474,849,201 |
26,502,153,619 |
32,791,750,229 |
|
Cash & Cash Equivalents |
216,590,047 |
250,786,801 |
625,809,074 |
|
Trade Receivables & Other
Receivables |
15,102,391,015 |
16,352,395,057 |
19,775,517,949 |
|
Inventories |
6,903,203,967 |
9,635,053,931 |
11,988,611,020 |
|
Deferred Income Tax Assets |
10,095,400 |
125,600 |
66,640 |
|
Current Financial Instruments |
59,838,376 |
59,838,376 |
|
|
Current Non-Financial Instruments |
182,730,396 |
203,953,854 |
401,745,546 |
|
Non-Current Assets |
39,579,012,102 |
38,121,346,978 |
45,555,580,574 |
|
Long-Term Trade Receivables &
Other Receivables |
|
63,862,448 |
48,117,785 |
|
Deferred Income Tax Assets |
|
|
2,429,889,371 |
|
Tangibles |
38,496,402,158 |
36,606,921,841 |
41,245,449,223 |
|
Intangibles |
1,066,364,944 |
1,213,562,689 |
1,496,628,195 |
|
Non-Current Financial Instruments |
16,245,000 |
237,000,000 |
335,496,000 |
|
Total Liabilities |
52,770,212,525 |
52,535,828,291 |
39,495,533,325 |
|
Current Liabilities |
49,912,249,132 |
49,427,327,948 |
34,255,719,733 |
|
Trade Payables & Other
Payables |
3,660,334,413 |
3,953,516,889 |
5,524,939,778 |
|
Short-Term Borrowings |
27,507,319,960 |
28,167,444,389 |
28,597,664,683 |
|
Other Current Financial Debts |
104,472,571 |
96,099,071 |
87,876,545 |
|
Other Current Non-Financial Debts |
56,006,823 |
64,305,074 |
45,238,727 |
|
Other Current Provisions |
18,584,115,365 |
17,145,962,525 |
|
|
Non-Current Liabilities |
2,857,963,393 |
3,108,500,343 |
5,239,813,592 |
|
Long-Term Borrowings |
500,000,000 |
1,500,000,000 |
3,687,500,000 |
|
Provision for Severance &
Retirement |
1,424,879,266 |
1,608,500,343 |
1,453,505,813 |
|
Other Non-Current Financial Debts |
|
|
98,807,779 |
|
Deferred Income Tax Credit |
933,084,127 |
|
|
|
Capital Stock |
7,650,000,000 |
7,650,000,000 |
7,650,000,000 |
|
Capital Surplus |
11,273,832,186 |
11,273,832,186 |
11,273,832,186 |
|
Profit Surplus |
-12,948,390,769 |
-6,836,159,880 |
19,927,965,292 |
|
Others |
3,308,207,361 |
|
|
|
Total Equity |
9,283,648,778 |
12,087,672,306 |
38,851,797,478 |
|
Liab. & Shareholder’s Equity |
62,053,861,303 |
64,623,500,597 |
78,347,330,803 |
|
Income Statement |
|||
|
Unit : Korean Won |
01/01/2014~06/30/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
16,435,472,030 |
43,093,574,308 |
51,981,855,612 |
|
Cost of Sold Goods |
17,289,013,746 |
44,252,922,426 |
47,654,630,497 |
|
Gross Profit |
-853,541,716 |
-1,159,348,118 |
4,327,225,115 |
|
Selling & Admin. Expenses |
2,472,759,850 |
5,229,043,080 |
6,263,035,382 |
|
Operating Income |
-3,326,301,566 |
-6,388,391,198 |
-1,935,810,267 |
|
Other Income |
1,060,057,282 |
1,594,825,146 |
1,117,576,929 |
|
Other Expenses |
3,231,409,064 |
21,016,406,084 |
2,741,141,173 |
|
Finance Income |
293,872,961 |
2,643,210,162 |
2,746,942,220 |
|
Finance Expenses |
908,450,502 |
1,357,716,872 |
1,277,049,788 |
|
Income Before Taxes |
-6,112,230,889 |
-24,524,478,846 |
-2,089,482,079 |
|
Income Taxes Expenses |
|
2,429,889,371 |
-35,829,815 |
|
Net Income |
-6,112,230,889 |
-26,954,368,217 |
-2,125,311,894 |
|
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 |
1,380,200,310 |
1,404,468,796 |
1,819,420,853 |
|
Net Income |
-6,112,230,889 |
-26,954,368,217 |
-2,125,311,894 |
|
Adjustment |
642,739,669 |
3,522,989,089 |
1,192,230,682 |
|
-Exp. without Cash Outflow |
5,864,257,720 |
26,297,815,749 |
8,608,304,422 |
|
-Revenue without Cash Inflows |
-706,308,459 |
-2,522,966,977 |
-2,947,916,686 |
|
-Changes in Asset/ &
Liability |
2,277,539,553 |
2,170,346,211 |
-1,767,313,206 |
|
Interests Received |
72,119,417 |
920,784 |
808,559 |
|
Interests Paid |
-657,916,701 |
-1,110,267,843 |
-1,141,381,024 |
|
Cash Flows from Investing |
111,846,201 |
-1,385,466,012 |
-5,410,620,720 |
|
Cash Inflow from Investing |
221,315,700 |
169,989,400 |
272,087,140 |
|
Cash Outflows for Investing |
-109,469,499 |
-1,555,455,412 |
-5,682,707,860 |
|
Cash Flows from Financing |
-1,526,120,262 |
-393,872,264 |
3,883,517,497 |
|
Cash Inflows from Financing |
27,007,884,467 |
63,636,375,714 |
91,607,212,470 |
|
Cash Outflows from Financing |
-28,534,004,729 |
-64,030,247,978 |
-87,723,694,973 |
|
Increase/Decrease in Cash |
-34,073,751 |
-374,869,480 |
292,317,630 |
|
Cash at the Beginning of Year |
250,786,801 |
625,809,074 |
333,463,049 |
|
Cash at the End of Year |
216,590,047 |
250,786,801 |
625,809,074 |
|
Main Products & Services |
|
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Competitors |
SAMSUNG SDS CO., LTD. ILOK BLDG., 707-19, YEOKSAM 2-DONG,
GANGNAM-GU, SEOUL, KOREA TEL:+82-2-3429-2114 FAX:+82-2-3429-2100 KOREA ELECTRIC POWER DATA NETWORK CO., LTD. 1355, SEOCHO 2-DONG, SEOCHO-GU, SEOUL,
KOREA TEL:+82-2-6262-6114 FAX:+82-2-6262-6179 DREAMINTEK CO., LTD. USEONG BLDG., 333, CHANGJEON-DONG, MAPO-GU,
SEOUL, KOREA TEL:+82-2-3141-7575 FAX:+82-2-3141-8205 |
|
Affiliates |
BAIKSAN CO.,LTD.(114711-0003729) BAIKSAN LINTEX CO., LTD.(135011-0055456) |
|
Corporate Ownership |
BAIKSAN OPC INC(USA) (100.0% held by the subject company) BAIKSAN OPC GMBH(GERMANY) (100.0% held by the subject company) |
|
Sales/ Unit :Thousand KRW |
2010 |
2009 |
2008 |
|
Export |
14,039,939 |
59,422,624 |
|
|
Domestic |
803,751 |
3,505,017 |
|
|
Others |
9,026 |
74,557 |
|
|
Total |
14,852,716 |
63,002,198 |
|
The Subject deals with the companies in Germany,
UK and America.
|
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 |
Cannon |
Nullifying of Patent Infringement |
|
Proceeding |
|
|
Seoul High Court, Korea |
Cannon |
The Subject Company |
Claim for Compensation from Damages |
14,501,000,000 |
Proceeding |
|
|
Seoul District Court, Korea |
Mitchemtech |
The Subject Company |
Receivables |
|
2nd round is proceeding |
----
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.24 |
|
|
1 |
Rs.98.68 |
|
Euro |
1 |
Rs.77.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SMN |
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.