MIRA
INFORM REPORT
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Report Date : |
12.09.2014 |
IDENTIFICATION DETAILS
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Name : |
K2 LASER SYSTEM
INC. |
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Registered Office : |
53, Jeonpa-ro, Manan-gu, Anyang-si, |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
08.10.2004 |
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Com. Reg. No.: |
105-86-71842 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Manufacture of Machine-tools By Electron |
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No. of Employees : |
29 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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 |
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Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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 |
Basic Information
Basic
|
Company
Name |
K2 LASER SYSTEM
INC. (Korean Company
Name : “케이투레이저시스템(주)”) |
|
Registered Address |
53, Jeonpa-ro, Manan-gu, Anyang-si, Gyeonggi-do,
Korea |
|
Zip Code |
153-802 |
|
Tel |
+82-70-4571-1900 |
|
Fax |
+82-31-448-2412 |
|
E-mail |
k2sales@k2laser.com |
|
Website |
www.k2laser.com |
|
Trading Address |
53, Jeonpa-ro, Manan-gu, Anyang-si,
Gyeonggi-do, Korea (Old Address System : 191-1, Anyang
7-dong, Manan-gu, Anyang-si, Gyeonggi-do, Korea) |
|
Tel |
+82-70-4571-1900 |
|
Fax |
+82-31-448-2412 |
|
Type |
Export |
|
Industry |
Manufacture of Machine-tools By Electron |
|
Main Business |
Laser Marking Machine, Laser Cutter Machine, Laser Engraving Machine |
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Established (mm/dd/yyyy) |
10/08/2004 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Marking tools(27112300) |
CEO’s
|
Name |
Kim Myoung-Soo |
|
Address |
Suite 110-1702, 219, Hwajung-ro,
Deogyang-gu, Goyang-si, Gyeonggi-do, Korea |
|
Date of Birth |
10/17/1967 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
990,000,000 |
|
Employees |
29 |
|
Formation |
Co., Ltd by Shares Venture Business |
|
Bank Details |
Industrial Bank of Korea-Pyungchon Acro
Tower Branch |
|
Corporate Registered No. |
1101113-095422 |
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Business Registered No. |
105-86-71842 |
|
Permit & Licenses |
06/2010 CE Mark Int’l Trade No.: 45374003 |
|
Shareholder Position |
N/A |
|
Company History |
07/2003 Established as K2 LASER CO.(Sole Proprietorship) 10/01/2004 Incorporated as the present name 09/2008 Designated as an INNO-BIZ Company 04/21/2010 Increased the authorized shares
to 400,000 shares from 40,000 shares 08/20/2010 Increased capital to 700,000,000 KRW from 350,000,000 KRW 02/04/2013 Designated as a Venture Business 08/07/2013 Moved
to the present HQ address from 345-40, Gasan-dong, Geumcheon-gu, Seoul,
Korea(New Address System : 41, Gasan digital 2-ro, Geumcheon-gu, Seoul,
Korea) 06/13/2014 Increased capital to 990,000,000 KRW from 700,000,000 KRW |
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Detailed Information
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Kim Myoung-Soo |
Male |
Korean |
10/08/2007 |
|
President & CEO |
Mr. |
Kim Young-Cheol |
Male |
Korean |
06/12/2014 |
|
Auditor |
M/S. |
Park Eon-Kyung |
Female |
Korean |
04/19/2006 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
6,929,000,000 |
3,016,000,000 |
147,000,000 |
|
|
2012 |
4,595,000,000 |
2,420,000,000 |
32,000,000 |
|
2011 |
3,707,000,000 |
1,282,000,000 |
30,000,000 |
|
2010 |
N/A |
N/A |
N/A |
|
2009 |
1,678,000,000 |
752,000,000 |
5,000,000 |
|
2008 |
1,132,000,000 |
613,000,000 |
-67,000,000 |
Financial
Description
|
Authorized Capital(KRW) |
2,000,000,000 |
|
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 |
3,016,000,000 |
2,420,000,000 |
1,282,000,000 |
|
Current Assets |
1,833,000,000 |
1,151,000,000 |
763,000,000 |
|
-Quick Assets |
- |
- |
- |
|
-Inventories |
- |
- |
- |
|
Fixed Assets |
1,183,000,000 |
1,269,000,000 |
519,000,000 |
|
-Investment |
- |
- |
- |
|
-Tangibles |
- |
- |
- |
|
-Intangibles |
- |
- |
- |
|
Total Liabilities |
2,006,000,000 |
1,557,000,000 |
452,000,000 |
|
Current Liabilities |
1,176,000,000 |
1,157,000,000 |
452,000,000 |
|
Fixed Liabilities |
830,000,000 |
400,000,000 |
- |
|
Capital Stock |
700,000,000 |
700,000,000 |
700,000,000 |
|
Capital Surplus |
- |
- |
- |
|
Profit Surplus |
- |
- |
- |
|
Capital Adjustment |
- |
- |
- |
|
Total Equity |
1,010,000,000 |
863,000,000 |
830,000,000 |
|
Liab. & Shareholder’s Equity |
3,016,000,000 |
2,420,000,000 |
1,282,000,000 |
Income
Statement
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Sales |
6,929,000,000 |
4,595,000,000 |
3,707,000,000 |
|
Cost of Sold Goods |
5,366,000,000 |
3,266,000,000 |
2,855,000,000 |
|
Gross Profit |
1,563,000,000 |
1,329,000,000 |
852,000,000 |
|
Selling & Admin. Expenses |
1,365,000,000 |
1,308,000,000 |
787,000,000 |
|
Operating Income |
198,000,000 |
21,000,000 |
65,000,000 |
|
Non-Operating Income |
7,000,000 |
43,000,000 |
23,000,000 |
|
Non-Operating Expenses |
58,000,000 |
31,000,000 |
58,000,000 |
|
Income Before Taxes |
147,000,000 |
32,000,000 |
30,000,000 |
|
Income Taxes Expenses |
- |
- |
- |
|
Net Income |
147,000,000 |
32,000,000 |
30,000,000 |
Products, Technologies, Services Description
|
Main Products & Services |
Laser Marking Machine, Laser Cutter Machine, Laser Engraving Machine |
Trade Partners & Competitors
|
Competitors |
JETTECH CO., LTD. 423-3, CHEONGCHEON-DONG BUPYEONG-GU
INCHEON, 403-030 SOUTH KOREA TEL:+82-32-5103000 FAX:+82-32-5103099 ESSEL-TECH CO., LTD. 206-1, SHIHWA GONGDAN 2-RA 1265-6,
JUNGWANG-DONG SIHEUNG-SI, GYEONGGI-DO, 429-924 SOUTH KOREA TEL:+82-31-4974100 FAX:+82-31-4974108 SEMITEQ CO., LTD 432-6, MIJAM-RL IWOL-MYEON JINCHEONG-GUN
CHUNGCHEONGBUK-DO, 365-824 SOUTH KOREA TEL:+82-43-5301325 FAX:+82-43-5362326 |
Sales by Region (Activity & Markets)
The Subject exports
to Japan and Brazil.
Court Action
Not Available.
News Clipping
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.19 |
|
|
1 |
Rs.98.65 |
|
Euro |
1 |
Rs.78.63 |
INFORMATION DETAILS
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Analysis Done by
: |
SUM |
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Report Prepared
by : |
PDT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.