|
Report Date : |
04.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
NATURE
CELL CO., LTD. |
|
|
|
|
Registered Office : |
21, Gisangongdan 1-gil, Gisan-myeon, Chilgok-gun,
(Old Address System : 317-18, Yeong-ri, Gisan-myeon, Chilgok-gun, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
30.06.2014 |
|
|
|
|
Date of Incorporation : |
06.08.1971 |
|
|
|
|
Com. Reg. No.: |
130-81-05606 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Processing and Preserving of Other Fruits and Vegetables |
|
|
|
|
No. of Employees : |
86 |
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 : |
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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Korea (South) |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
KOREA (SOUTH) - 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 |
NATURE
CELL CO., LTD. (Korean Company Name : “(주)네이처셀”) |
|
Registered Address |
21, Gisangongdan 1-gil, Gisan-myeon, Chilgok-gun,
Gyeongsangbuk-do, Korea (Old Address System : 317-18, Yeong-ri,
Gisan-myeon, Chilgok-gun, Gyeongsangbuk-do, Korea) |
|
Zip Code |
718-852 |
|
Tel |
+82-54-971-0851~4 |
|
Fax |
+82-54-971-4710 |
|
E-mail |
sales1@rnlsammi.com |
|
Website |
www.naturecell.co.kr |
|
Trading Address |
5FL., 10, Gukhoe-daero 76-gil,
Yeongdeungpo-gu, Seoul, Korea |
|
Tel |
+82-2-545-4137~8 |
|
Fax |
+82-2-545-4140 |
|
Other Address-Yeongyang Factory |
64, Jusil 1-gil, Irwol-myeon, Yeongyang-gun,
Gyeongsangbuk-do, Korea |
|
Tel |
+82-70-7019-6876 |
|
Fax |
+82-54-683-0851 |
|
Type |
Export |
|
Industry |
Processing and Preserving of Other Fruits and Vegetables |
|
Main Business |
Fruit Juice, Tomato Juice, Orange Juice |
|
Established (mm/dd/yyyy) |
08/06/1971 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Shelf stable juice(50202304) |
|
Sell |
Prepared and preserved foods(50190000) |
|
Sell |
Non alcoholic beverages(50202300) |
|
Sell |
Fresh juice(50202305) |
CEO’s
|
Name |
Lee Hyung-Seung |
|
Address |
|
|
Date of Birth |
08/1963 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
19,019,981,000 |
|||||||||||||||||||||
|
Employees |
86 |
|||||||||||||||||||||
|
Formation |
Listed Company (KOSDAQ : 007390) as of 11/30/1992 |
|||||||||||||||||||||
|
Bank Details |
Kookmin Bank-Sungseo Corporate Finance
Branch |
|||||||||||||||||||||
|
Corporate Registered No. |
124311-0005721 |
|||||||||||||||||||||
|
Business Registered No. |
130-81-05606 |
|||||||||||||||||||||
|
Permit & Licenses |
07/1999 ASME 10/17/2003 ISO 14001 10/17/2003 ISO 9001 05/2010 MAIN-BIZ 05/2011 INNO-BIZ Int’l Trade No.: 11436180 |
|||||||||||||||||||||
|
Shareholder Position |
|
|||||||||||||||||||||
|
Company History |
08/06/1971 Incorporated as DONG YANG BOILER
CO., LTD. 04/28/1999 Changed company name to DONGBO
HEAVY INDUSTRIES CO., LTD. 09/02/2008 Changed company name to SAMMI
FOOD CO., LTD. 03/30/2010 Changed company name to RFC
SAMMI CO., LTD. 05/28/2010 Split Boiler Business off, and established
SAMMI BOILER CO., LTD. 12/02/2010 Changed company name to R&L
SAMMI CO., LTD. 04/15/2013 Changed company name to the
present name |
|||||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lee Hyung-Seung |
Male |
Korean |
1963.08. |
|
Director |
Mr. |
Sung Nak-Koo |
Male |
Korean |
1958.07. |
|
Director |
M/S. |
Kwon Soon-Mi |
Female |
Korean |
1963.06. |
|
Outside Director |
Mr. |
Park Il-Yong |
Male |
Korean |
1940.02. |
|
Auditor |
Mr. |
Choi Yong-Keun |
Male |
Korean |
1954.04. |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
(*)06/2014 |
11,324,660,059 |
22,242,187,425 |
603,985,258 |
|
(*)2013 |
27,205,250,206 |
23,016,529,688 |
-1,898,930,921 |
|
(*)2012 |
22,793,852,910 |
24,824,588,691 |
-1,623,029,397 |
|
2011 |
22,793,852,910 |
26,205,791,697 |
-1,623,029,397 |
|
2010 |
29,562,874,619 |
24,448,070,698 |
-265,272,941 |
(*)Figures are based on
the K-IFRS Accounting System.
Financial
Description
|
Authorized Capital(KRW) |
100,000,000,000 |
|
Paid-Up Capital(KRW) |
19,019,981,000 |
|
Total Issued Shares |
38,039,962 |
|
Unit : Korean Won |
01/01/2014~06/30/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total Assets |
22,242,187,425 |
23,016,529,688 |
24,824,588,691 |
|
Current Assets |
9,902,516,875 |
10,632,503,657 |
13,438,475,607 |
|
Cash & Cash Equivalents |
1,625,298,699 |
965,618,802 |
383,073,671 |
|
Current Financial Instruments |
50,000,000 |
|
|
|
Trade Receivables |
3,847,163,273 |
3,895,867,320 |
3,860,822,762 |
|
Short-Term Receivables |
1,000,000,000 |
3,200,000,000 |
3,225,782,761 |
|
Other Receivables |
91,538,990 |
66,154,260 |
200,486,814 |
|
Other Current Assets |
12,892,870 |
285,532,007 |
283,183,703 |
|
Advance Payments |
4,714,312 |
4,714,312 |
23,381,332 |
|
Prepaid Expenses |
28,855,984 |
51,503,157 |
121,515,938 |
|
Deferred Income Tax Assets |
7,891,790 |
|
2,609,220 |
|
Prepaid Taxes |
38,431,158 |
123,752,368 |
145,558,742 |
|
Held-to-Maturity Financial Assets |
50,400,000 |
190,400,000 |
|
|
Assets to be Sold |
680,000,000 |
680,000,000 |
680,000,000 |
|
Inventories |
3,722,897,203 |
4,829,730,690 |
6,023,763,287 |
|
Non-Current Assets |
12,339,670,550 |
12,384,026,031 |
11,386,113,084 |
|
Non-Current Financial Instruments |
244,200,000 |
244,200,000 |
438,250,000 |
|
Marketable Financial Instruments |
700,000,000 |
700,000,000 |
700,000,000 |
|
Held-to-Maturity Financial Assets |
47,040,000 |
|
190,400,000 |
|
Investment_Real Estates |
202,973,820 |
203,107,764 |
203,375,653 |
|
Tangibles |
9,528,400,357 |
9,650,097,144 |
9,612,536,308 |
|
Guarantees |
|
|
241,551,123 |
|
Other Non-Current Assets |
1,617,056,373 |
1,586,621,123 |
|
|
Total Liabilities |
10,296,249,710 |
12,245,124,153 |
16,199,758,214 |
|
Current Liabilities |
8,053,503,675 |
11,675,019,954 |
13,983,070,052 |
|
Trade Payables |
1,290,786,727 |
1,063,124,057 |
2,558,128,270 |
|
Short-Term Borrowings |
3,352,440,000 |
3,525,045,313 |
5,768,351,200 |
|
Account Payables |
391,759,785 |
509,362,360 |
2,003,744,586 |
|
Accrued Expenses |
476,945,358 |
453,774,552 |
374,984,167 |
|
Advance Receipts |
1,096,182,367 |
944,986,101 |
894,975,728 |
|
Withholdings |
8,742,170 |
24,255,871 |
7,966,376 |
|
Bond with Warrant |
1,436,647,268 |
1,419,718,480 |
2,374,919,725 |
|
Current Portion of Long-Term Debts |
|
2,100,000,000 |
|
|
Deferred Income Tax Credit |
|
1,634,753,220 |
|
|
Non-Current Liabilities |
2,242,746,035 |
570,104,199 |
2,216,688,162 |
|
Debentures |
1,680,000,000 |
|
2,100,000,000 |
|
Long-Term Borrowings |
230,000,000 |
230,000,000 |
|
|
Leasehold Deposit Received |
10,000,000 |
10,000,000 |
10,000,000 |
|
Provision for Severance & Retirement |
322,746,035 |
330,104,199 |
106,688,162 |
|
Capital Stock |
19,019,981,000 |
18,519,981,000 |
14,577,661,000 |
|
Capital Surplus |
21,669,377,609 |
21,669,377,609 |
20,689,799,112 |
|
Profit Surplus |
-13,817,803,764 |
-14,421,789,022 |
-10,893,631,952 |
|
Others |
-14,925,617,130 |
-14,996,164,052 |
-15,748,997,683 |
|
Total Equity |
11,945,937,715 |
10,771,405,535 |
8,624,830,477 |
|
Liab. & Shareholder’s Equity |
22,242,187,425 |
23,016,529,688 |
24,824,588,691 |
|
Unit : Korean Won |
01/01/2014~06/30/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
11,324,660,059 |
27,205,250,206 |
22,793,852,910 |
|
Cost of Sold Goods |
11,082,932,868 |
24,515,493,308 |
21,306,112,696 |
|
Gross Profit |
241,727,191 |
2,689,756,898 |
1,487,740,214 |
|
Selling & Admin. Expenses |
1,042,560,237 |
3,147,012,780 |
2,346,947,542 |
|
Operating Income |
-800,833,046 |
-457,255,882 |
-859,207,328 |
|
Other Income |
1,849,391,185 |
123,060,740 |
220,994,332 |
|
Other Expenses |
294,697,837 |
938,059,048 |
694,150,308 |
|
Finance Income |
67,026,175 |
12,405,291 |
71,204,216 |
|
Finance Expenses |
216,901,219 |
682,912,697 |
606,478,689 |
|
Income Before Taxes |
603,985,258 |
-1,942,761,596 |
-1,867,637,777 |
|
Income Taxes Expenses |
|
-43,830,675 |
-244,608,380 |
|
Net Income |
603,985,258 |
-1,898,930,921 |
-1,623,029,397 |
|
Unit : Korean Won |
01/01/2014~06/30/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Operating Activities Cash Flows |
-996,140,384 |
-916,668,629 |
2,248,455,751 |
|
Net Income |
603,985,258 |
-1,898,930,921 |
-1,623,029,397 |
|
Adjustment |
-1,268,890,953 |
2,356,252,632 |
1,448,125,423 |
|
Changes in Asset/
& Liability |
1,433,860,722 |
-691,038,672 |
2,992,242,675 |
|
Interests Received |
56,481,609 |
18,646,529 |
63,808,075 |
|
Interests Paid |
-178,932,010 |
-738,576,967 |
-635,291,627 |
|
Income Taxes |
-1,642,645,010 |
36,978,770 |
2,600,602 |
|
Cash Flows from
Investing |
1,776,540,378 |
-785,819,294 |
-1,290,165,785 |
|
Cash Flows from
Financing |
-92,605,313 |
1,472,054,325 |
-559,118,626 |
|
Increase/Decrease in
Cash |
659,679,897 |
-257,844,200 |
262,563,927 |
|
Cash at the Beginning
of Year |
965,618,802 |
640,917,871 |
378,353,944 |
|
Cash at the End of
Year |
1,625,298,699 |
383,073,671 |
640,917,871 |
Products,
Technologies, Services Description
|
Main Products & Services |
Fruit Juice, Tomato Juice, Orange Juice |
Trade Partners
& Competitors
|
Customers |
WOONGJIN FOODS CO., LTD.(115411-0000192) NAMYANG DAIRY PRODUCTS CO., LTD.(110111-0092976) OTTOGI CORPORATION(134111-0002258) HAITAI BEVERAGE CO.,LTD.(110111-0900004) |
|
Competitors |
BUKOOK CO., LTD. 2ND FL., SAMO BLDG., 53-3, CHEONGDAM-DONG,
GANGNAM-GU, SEOUL, KOREA TEL:+82-2-548-6350 FAX:+82-2-548-6351 ELIM CI CO.,
LTD. RM.2811, 28FL., U-TOWER, HEUNGDUCK KDB, 1029, YEONGDEO-DONG,
GIHEUNG-GU, YONGIN-SI, GYEONGGI-DO, KOREA TEL:+82-31-236-9900 FAX:+82-31-236-3613 KITTO LIFE CO., LTD. 576-1, CHILGOE-DONG, PYEONGTAEK-SI,
GYEONGGI-DO, KOREA TEL:+82-2-579-7003 FAX:+82-2-579-7572 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
K-NATURAL.CO.,LTD.(110111-4085464) (16.67% held by the subject company) K-STEMCELL CO., LTD.(110111-0006448) (16.35% held by the subject company) |
|
Cooperative Enterprise |
-Insured Company LOTTE NON-LIFE INSURANCE CO., LTD.(110111-0014459) |
Sales by Region (Activity & Markets)
The Subject exports
to USA, Russia, China, Indonesia, Iran, Singapore and Libya.
Court Action
No.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.45 |
|
|
1 |
Rs.99.45 |
|
Euro |
1 |
Rs.79.46 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.