MIRA INFORM REPORT

 

 

Report Date :

23.09.2014

 

IDENTIFICATION DETAILS

 

Name :

HYUNDAI ENGINEERING & CONSTRUCTION CO., LTD.

 

 

Registered Office :

75, Yulgok-ro, Jongno-gu, Seoul, Korea, 110-920

 

 

Country :

South Korea

 

 

Financials (as on) :

30.06.2014

 

 

Date of Incorporation :

10.01.1950

 

 

Com. Reg. No.:

101-81-16293

 

 

Legal Form :

Listed Company

 

 

Line of Business :

Construction of Highways, Streets and Roads

 

 

No. of Employees :

7,636

 

 

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 :

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

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

 

 

Basic Information

 

Company Name

HYUNDAI ENGINEERING & CONSTRUCTION CO., LTD.

(Trade Name : HDEC)

Registered Address

75, Yulgok-ro, Jongno-gu, Seoul, Korea

Zip Code

110-920

Tel

+82-2-746-1114

Fax

+82-2-746-3333

E-mail

webmaster@hdec.co.kr

Website

www.hdec.co.kr

 

 

Trading Address

75, Yulgok-ro, Jongno-gu, Seoul, Korea

(Old Address System : 140-2, Gye-dong, Jongno-gu, Seoul, Korea)

Tel

+82-1577-7755

Fax

+82-2-743-8963

 

 

Type

Export

Industry

Construction of Highways, Streets and Roads

  Main Business

Civil Engineering Construction, Apartment Construction, Electric Communication Construction, Street Improvement

  Sub Business

Apartment Building Construction

 

 

Established (mm/dd/yyyy)

01/10/1950

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Infrastructure construction(72131700)

Sell

Commercial or industrial construction(72131600)

Sell

Highway or road paving or surfacing(72131701)

Sell

General building construction(72130000)

 

 

CEO’s

 

Name

Jung Soo-Hyun

Address

 

Date of Birth

09/17/1952

Title

President & CEO

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

557,273,105,000

Employees

7,636

Formation

Listed Company (Korea Stock Exchange : 000720) as of 12/22/1984

A Company of HYUNDAI MOTOR COMPANY(110111-0085450)

Bank Details

Korea Exchange Bank-Kye Dong Branch

Corporate Registered No.

110111-0007909

Business Registered No.

101-81-16293

Permit & Licenses

07/1993 ISO 9001

02/1996 ISO 14001

04/2001 ISO 9002 by HKQAA

08/2002 ISO 9001 by LRQA Korea

08/2002 ISO 9002 by LRQA Korea

08/2002 ISO 9002 by PSB

 

Int’l Trade No.: 671422

Shareholder Position

Name

Shares

%

HYUNDAI MOTOR COMPANY(110111-0085450)

23,327,400

20.93

KIA MOTORS CORPORATION (110111-0037998)

5,831,850

5.23

HYUNDAI MOBIS CO., LTD.(110111-0215536)

9,719,750

8.72

NATIONAL PENSION SERVICE(110171-0007134)

13,053,441

11.71

OTHERS

59,522,180

53.40

TOTAL

111,454,621

100.00

Company History

05/1947 Established Hyundai Civil Works Company.

01/10/1950 Incorporated as the present name

05/1958 Completed restoration of Han River Pedestrian Bridge.

11/1960 Completed restoration of Incheon 1st Dock.

01/1962 Ranked first among domestic contractors.

11/1965 U ndertook Pattani Narathiwat Highway Project in Thailand.

08/1969 Started Housing and Urban Development Project in Guam, USA.

12/1969 Started Hurricane Gulch Bridge Project in Alaska, USA.

12/1970 Completed full sections of Gyeongbu Highway.

12/1970 Completed Honam Highway (from Daejeon to Jeonju).

02/1972 Started construction on Ulsan Shipyard (for Hyundai Heavy Industries).

12/1973 Completed Soyang River Multi-Purpose Dam.

06/1975 Started construction on Bandar Abbas Mobilization Drill Shipyard in Iran.

10/1975 Started construction on Bahrain Arab Repair Shipyard.

06/1976 Started construction on Jubail Industrial Harbor in Saudi Arabia.

01/1978 Started construction on Dubai Power Plant in UAE.

04/1978 Completed Kori Nuclear Power Plant Unit 1.

09/1980 A dvanced into Libya and Oman.

11/1981 Expanded activities into engineering field and changed company name to “Hyundai Engineering & Construction Co., Ltd.”.

04/1983 Completed Wolseong Nuclear Power Plant Unit 1.

07/1983 Completed Kori Nuclear Power Plant Unit 2.

09/1984 Ranked as 4th largest constructor in the world by ENR Magazine.

12/1984 Public stock offering.

12/1985 Advanced into Hong Kong and Philippines. Started housing development project in USA as developer.

04/1986 Completed Kori Nuclear Power Plant Units 3, 4.

07/1986 Advanced into Canada, India, and Pakistan.

06/1987 Completed Yonggwang Nuclear Power Plant Units 1, 2.

03/1988 Completed King Sejong Korean Antarctic Research Station.

10/1988 Expanded into Japanese construction market by obtaining permission from the Japanese government.

04/1989 Completed Seosan Reclamation Project.

12/1989 Expanded into USSR by establishing branch offices in Moscow and Nahodka.

05/1991 Completed Hyundai Petrochemical Complex.

11/1992 Started construction on Incheon International Airport.

07/1993 Acquired ISO 9001 Certification in all business fields, the first among domestic industries.

12/1993 Awarded first-ever Construction Management Grand Prize.

12/1995 Completed Yonggwang Nuclear Power Plant Units 3, 4 -selected as "Project of the Year" by Power Engineering, an American electrical power magazine.

10/1996 Awarded Gold Tower Industrial Decoration for Yonggwang Nuclear Power Plant, Units 3, 4.

10/1996 Selected as "Project of the Year" by Power Engineering, an American electrical power magazine (for Taean Steam Power Plant, Units 1, 2).

12/1996 Acquired ISO 14001 certification.

06/1997 Completed Wolseong Nuclear Power Plant Unit 2.

08/1997 Advanced into North Korea with construction of KEDO Nuclear Power Plant Units 1, 2.

10/1999 Awarded grand prize in Korea Construction Enterprise competition.

12/1999 Awarded grand prize in Business Information in ‘Construction’ category by Ministry of Information and Telecommunication.

Company History

04/2000 Named No.1 in Brand Power in ‘Apartment’ category by Korean Management Association.

07/2000 Selected as "Company with Best Quality" by Korean Standards Association and Ministry of Commerce, Industry, and Energy.

03/2001 Death of Founder and Honorary Chairman, Ju-Young Chung.

04/2001 Received 2001 Singapore Construction Excellence Award for Parc Palais Condominium.

08/2002 Ranked No. 1 construction company in Asia (and 12th in the world) by ENR Magazine.

12/2002 Completed Yonggwang Nuclear Power Plant, Units 5, 6.

07/2003 Retained top ranking in Korean construction performance for 42nd consecutive year.

07/2004 Received Annual Safety Performance Awards for Goldenhill Park Condominium from Singapore Land Transportation Authority.

02/2005 Completed Phase 4&5 onshore facilities (worth US$ 1.6 billion) of South Pars Field in Iran.

05/2006 Won grand prize at “2006 Construction Excellence Awards” from Singapore BCA (Building and Construction Authority) for Goldenhill Park Condominium.

07/2006 HDEC corporate bonds and commercial paper credit ratings upgraded to “A-” and “A2-” from “BBB+” and “A3+”.

09/2006 Launched new apartment brand “Hillstate”.

05/2007 Set out mid- to long-term vision on occasion of 60th anniversary.

06/2007 Corporate bonds and commercial paper credit ratings upgraded to “A” from “A-” and to “A2” from “A2-”.

10/2007 Began construction of Taean Corporate City.

08/19/2014 decided to acquire HYUNDAI E&C HUMAN RESOURCE DEVELOPMENT INSTITUTE(110111-2181975) as of 11/01/2014

 

 

Detailed Information

 

Job Description

Title

Name

Nationality

Date of Birth

Education

President & CEO

Mr.

Jung Soo-Hyun

Korean

1952.09.17

Seoul National University, Korea

Chairman

Mr.

Jung Mong-Koo

Korean

1938.03

Hanyang University, Korea

Vice Chairman

Mr.

Kim Yong-Hwan

Korean

1956.01

Korea University, Korea

Outside Director/Auditor

Mr.

Shin Hyun-Yoon

Korean

1955.07

Yonsei University, Korea

Outside Director/Auditor

Mr.

Lee Seung-Jae

Korean

1953.01

Korea University, Korea

Outside Director/Auditor

Mr.

Seo Chi-Ho

Korean

1953.08

Hanyang University, Korea

Outside Director/Auditor

Mr.

Park Sung-Deuk

Korean

1952.11

Wonkwang University, Korea

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

(*)06/2014

5,427,372,000,000

12,258,497,000,000

195,301,000,000

(*)2013

10,591,308,000,000

11,901,427,000,000

360,278,000,000

(*)2012

10,433,442,000,000

11,055,185,000,000

347,019,000,000

(*)2011

10,104,552,000,000

10,683,667,000,000

503,313,000,000

(*)2010

10,044,756,000,000

10,281,443,000,000

434,186,000,000

2009

9,278,579,456,229

8,091,281,364,062

456,633,227,213

2008

7,271,096,817,723

8,143,809,596,723

373,474,014,415

2007

5,649,097,843,092

6,671,242,802,714

277,383,812,842

2006

5,084,898,450,795

5,708,985,793,521

397,603,538,130

2005

4,285,136,175,656

5,122,698,490,914

326,521,869,882

2004

4,646,116,102,457

4,526,621,697,623

67,311,497,529

2003

5,152,272,250,872

4,749,815,175,879

254,055,853,826

 

(*)Figures are based on the K-IFRS Accounting System.

 

 

Financial Description

 

Authorized Capital(KRW)

35,000,000,000,000

Paid-Up Capital(KRW)

557,273,105,000

Total Issues Shares

111,454,621 (Common : 111,355,765 / Preferable : 98,856)

 

Balance Sheet

Unit : Million Korean Won

01/01/2014~06/30/2014

As of 12/31/2013

As of 12/31/2012

Total Assets

12,258,497

11,901,427

11,055,185

Current Assets

8,539,091

8,297,022

7,404,995

Cash & Cash Equivalents

964,270

1,106,067

1,217,518

Current Financial Instruments

20,000

20,000

20,000

Trade Receivables

1,529,408

1,090,984

1,130,192

Other Receivables

1,259,301

1,207,450

1,151,219

Construction Overpaid

2,877,873

3,084,031

2,052,729

Held-to-Maturity Financial Assets

19,918

22,471

23,448

Derivatives

 

4

1,982

Inventories

1,024,033

1,013,497

818,110

Other Current Assets

844,288

752,518

989,797

Non-Current Assets

3,719,406

3,604,405

3,650,190

Non-Current Financial Instruments

3,164

7,734

9,116

Long-Term Trade Receivables

335,751

349,289

354,518

Other Receivables

408,674

354,413

382,021

Marketable Financial Instruments

369,782

400,925

550,958

Held-to-Maturity Financial Assets

64,285

70,013

78,270

Investment_Related Companies

1,512,736

1,460,277

1,383,309

Investment_Real Estates

397,657

349,529

359,784

Tangibles

311,836

345,666

333,177

Intangibles

29,368

27,821

26,255

Deferred Income Tax Assets

207,151

177,226

135,342

Other Non-Current Assets

79,002

61,512

37,440

Total Liabilities

7,485,036

7,217,601

6,539,000

Current Liabilities

5,052,880

5,152,864

4,786,586

Trade Payables

1,806,176

1,852,152

1,765,100

Other Payables

743,674

822,376

741,520

Construction-Advance Receipt

1,212,027

1,229,978

1,081,778

Construction unpaid

669,385

593,099

487,129

Short-Term Borrowings

183,584

169,984

166,655

Current Portion of Long-Term Debts

306,700

412,902

371,967

Deferred Income Tax Credit

65,879

41,856

71,411

Current Portion of Provision

15,245

17,890

15,861

Other Current Liabilities

50,210

12,627

84,539

Derivatives

 

 

626

Non-Current Liabilities

2,432,156

2,064,737

1,752,414

Long-Term Trade Payables & Other Payables

314,140

281,571

201,989

Debentures

1,097,091

1,047,136

847,563

Long-Term Borrowings

362,830

121,260

180,553

Confirmed Salaries

235,567

213,945

163,129

Provision for Severance & Retirement

11,849

11,723

15,941

Provisions

349,191

338,926

312,600

Other Finance Debts

46,860

37,262

18,397

Other Non-Current Liabilities

14,628

12,914

12,224

Derivatives

 

 

18

Capital Stock

557,273

557,273

557,273

Installments

828,181

828,181

828,181

Others

-80,710

-30,776

96,528

Profit Surplus

3,468,717

3,329,148

3,034,203

Total Equity

4,773,461

4,683,826

4,516,185

Liab. & Shareholder’s Equity

12,258,497

11,901,427

11,055,185

 

Income Statement

Unit : Million Korean Won

01/01/2014~06/30/2014

As of 12/31/2013

As of 12/31/2012

Sales

5,427,372

10,591,308

10,433,442

Cost of Sold Goods

4,976,189

9,762,976

9,604,835

Gross Profit

451,183

828,332

828,607

Selling & Admin. Expenses

193,745

352,588

412,973

Operating Income

257,438

475,744

415,634

Finance Income

102,974

156,361

198,024

Finance Expenses

68,845

129,071

119,592

Other Operating Income

63,739

94,931

114,770

Other Operating Expenses

107,239

125,157

158,232

Income Before Taxes

248,067

472,808

450,604

Income Taxes Expenses

52,766

112,530

103,585

Net Income

195,301

360,278

347,019

 

Cash Flows

Unit : Million Korean Won

01/01/2014~06/30/2014

As of 12/31/2013

As of 12/31/2012

Cash Flows from Operating

-233,937

-202,563

-108,501

Cash Flows from Operating Activities

-214,257

-128,035

-45,326

-Net Income

195,301

360,278

347,019

-Exp. without Cash Outflow

281,901

439,438

481,758

-Revenue without Cash Inflows

-170,851

-241,346

-266,118

-Changes in Asset/ & Liability

-520,608

-686,405

-607,985

Interests Received

21,096

38,768

44,074

Dividends Received

34,071

85,216

41,417

Interests Paid

-32,047

-58,251

-50,556

Income Taxes

-42,800

-140,261

-98,110

Cash Flows from Investing

-59,916

-40,606

-76,795

-Cash Inflow from Investing

34,243

147,159

210,801

-Cash Outflows for Investing

-94,159

-187,765

-287,596

Cash Flows from Financing

150,488

129,050

162,429

-Cash Inflows from Financing

1,119,325

2,520,433

1,739,583

-Cash Outflows from Financing

-968,837

-2,391,383

-1,577,154

Increase/Decrease in Cash

-143,365

-114,119

-22,867

Cash at the Beginning of Year

1,106,067

1,217,518

1,240,865

Cash at the End of Year

964,270

1,106,067

1,217,518

 

 

Products, Technologies, Services Description

 

Main Products & Services

Civil Works

Building Works

Plant Works

Electrical works

Procurement

 

Land Expansion & Harbor Works

Highways, Transportation and Railroads

Water Resource Development

Advanced Intelligent Buildings

Buildings

Housing and Urban Development

Nuclear Power Plants

Oil & Gas, Petrochemical and Industrial Plants

Electric and Communication Systems

Environment Industry

 

Brand Name : Hillstste, Hyperion

 

 

Trade Partners & Competitors

 

Suppliers

 

Customers

KOREA NATIONAL HOUSING CORPORATION(114671-0001381)

KOREA WATER RESOURCES CORPORATION(164171-0000052)

KOREA HYDRO & NUCLEAR POWER CO., LTD.(110111-2207127)

KOREA SOUTH-EAST POWER CO., LTD.(110111-2207119)

KOREA GAS CORPORATION(114671-0006125)

SK ENERGY CO., LTD.(110111-3710385)

HYUNDAI OIL REFINERY CO., LTD.(110111-0090558)

ENERGY BANK CO., LTD.(110111-1063124)

 

MGP BERTH PTE. LIMITED-SINGAPORE

MARITIME AND PORT AUTHORITY OF SINGAPORE(MPA)

SRI LANKA PORTS AUTHORITY

QATAR FERTILIZER COMPANY

Competitors

DAEWOO ENGINEERING & CONSTRUCTION CO., LTD.(110111-2137895)

KUMHO ASIANA FIRST TOWER, 57, SINMUNNO 1-GA, JONGNO-GU, SEOUL, KOREA

TEL:+82-2-2288-3114  FAX:+82-2-2288-3113

 

SAMSUNG C&T CORPORATION(110111-0002975)

1321-20, SEOCHO 2-DONG, SEOCHO-GU, SEOUL, KOREA

TEL:+82-2-2145-2114  FAX:+82-2-2145-3114

 

GS ENGINEERING & CONSTRUCTION CORP(110111-0002694)

GS YEOKJEON BLDG., 537, NAMDAEMUNNO 5-GA, JUNG-GU, SEOUL, KOREA

TEL:+82-2-728-1112~4  FAX:+82-2-728-1203

 

DAELIM INDUSTRIAL CO., LTD.(110111-0084915)

DAELIM BLDG., 146-12, SUSONG-DONG, JONGNO-GU, SEOUL, KOREA

TEL:+82-2-2011-7114  FAX:+82-2-2011-8000

 

 

Related Parties (Subsidiaries, Joint-Venture & Affiliates)

 

Affiliates-Domestic

HYUNDAI ENGINEERING CO., LTD.(110111-2153015)

(72.5% held by the subject company)

 

HYUNDAI ENGINEERING & STEEL INDUSTERIES CO., LTD.(161411-0009437)

(99.4% held by the subject company)

 

BUSAN JUNGKWAN ENERGY CO., LTD.(180111-0484898)

(56.8% held by the subject company)

 

HYUNDAI ARCHITECTS & ENGINEERS ASSOC.(110111-2210097)

(63.4% held by the subject company)

 

KYUNG-IN CANAL CO., LTD.(120111-0202698)

(52.3% held by the subject company)

 

HYUNDAI C&I CO., LTD.(110111-3580845)

(70.0% held by the subject company)

 

HYUNDAI FARM LAND&DEVELOPMENT CO., LTD.(161411-0015129)

(72.0% held by the subject company)

 

HYUNDAI HUMAN RESOURCES EDUCATION CENTER(110111-2181975)

(66.7% held by the subject company)

 

THE 2ND YOUNGDONG HIGHWAY CO., LTD. (110111-3670589)

(40.0% held by the subject company)

 

HYUNDAI CITY DEVELOPEMENT CO., LTD.(165111-0006964)

(100.0% held by the subject company)

 

JINJU CHONGCHUN CO., LTD.(191111-0041091 )

(6.0% held by the subject company)

 

ULSAN CHONGCHUN CO., LTD. (230111-0137941)

(4.5% held by the subject company)

 

MILE SEUM.CO., LTD.(110111-1275703)

(2.2% held by the subject company)

Affiliates-Overseas

HYUNDAI ASIAN TECHNICS(PTE) LTD

(100.0% held by the subject company)

 

PT. HYUNDAI CITRA

(95.0% held by the subject company)

 

PT HYUNDAI INDONESIA ENG. & CONST.

(100.0% held by the subject company)

 

HYUNDAI HONGKONG ENG. & CONST.

(100.0% held by the subject company)

 

HYUNDAI DIAMOND CEMENT CO., LTD.

(70.0% held by the subject company)

 

HYUNDAI ENGINEERING & CONSTRUCTION (WUXI) CO., LTD.

(100.0% held by the subject company)

 

HYUNDAI CONSTRUCTION DO., BRASIL LTD.

(100.0% held by the subject company)

 

HYUNDAI ENGINEERING & CONSTRUCTION COMPANY NIG LTD.

(100.0% held by the subject company)

Overseas Office

SINGAPORE

7, TEMASEK BOULEVARD #40-01A SUNTEC TOWER ONE, SINGAPORE 038987

TEL :+65-63371577 FAX :+65-63376955

 

HONG KONG

UNIT 501-2, 5TH FLOOR, PARK BUILDING, 476 CASTLE PEAK ROAD, CHEUNG SHA WAN, KOWLOON, HONG KONG

TEL :+852-29051811/12/14 FAX :+852-25735332

 

INDONESIA

GENDUNG BRI II, 15TH FLOOR JI. JEND SUDIRMAN NO. 44-46 JAKARTA10210

TEL :+62-21-571-3700 FAX :+62-21-571-9080/3666

 

VIETNAM

UNIT 902, 9TH FLOOR, SUN RED

RIVER BUILDING, 23 PHAN CHU TRINH STR., HOAN KIEM DIST., HANOI, VIETNAM

TEL :+84-4-933-3971 FAX :+84-4-933-3973

 

MALAYSIA

LOT 11-1-12 JALAN 3/109F DANAU BUSINESS CENTRE TAMAN DANAU DESA, 58100 KUALA LUMPUR, MALAYSIA

TEL :+60-3-7981-0200, 60-3-7980-6814 FAX :+60-3-7981-0675

 

BANGLADESH

HOUSE NO. 1/C, 1ST FLOOR, ROAD NO. 10, BARIHARA, DHAKA-1212, BANGLADESH

TEL :+880-2-882-9233 FAX :+880-2-882-3241

 

INDIA

ROOM NO. 576, HOTEL :+SAMRAT, CHANAKYAPURI, NEW DELHI 110021, INDIA

TEL :+91-11-2467-4551~3, 91-11-2688-2465 FAX :+91-11-2467-4550

Overseas Office

JAPAN

ROOM NO. 608, 6TH FLOOR,

YURAKUCHO BLDG, 1-10-1 YURAKU-CHO, CHIYODA-KU, TOKYO, JAPAN, 100-0006

TEL :+81-3-5288-8291~3 FAX :+81-3-5288-9022

 

UAE

P.O. BOX 8198, ROOM NO. 404, AL-YAMAMAH TOWER, DEIRA, DUBAI, UAE

TEL :+9714-2954008 FAX :+9714-2950309

 

IRAN

NO . 7, SABA BLVD., AFRICA AVE., TEHRAN, IRAN P.O. BOX 19395-5651

TEL :+98-21-22050081 FAX :+98-21-22053277

 

KUWAIT

BUILDING 5, STREET 24, BLOCK 4, SABAH AL-SALEM, KUWAIT P.O. BOX 24314, SAFAT, KUWAIT

TEL :+965-552-9060/1/2 FAX :+965-552-9146

 

SAUDI ARABIA

P.O. BOX 2761, RIYADH, 11461, KINGDOM OF SAUDI ARABIA

TEL :+966-1-450-6255, 966-1-264-3700 FAX :+966-1-470-2005

 

QATAR

AL SHAAB ST. AL SALATHA AREA #40, P.O. BOX 24466, DOHA-QATAR

TEL :+974-455-0668/9 FAX :+974-467-8856

 

IRAQ

P.O. BOX 1180 BAGHDAD, IRAQ AL MANSOUR AREA DISTRICT #609 STREET #1, HOUSE #25, BAGHDAD, IRAQ

TEL :+964-1-543-7682 FAX :+964-1-543-8822

Overseas Office

EUROP E

UNITED KINGDOM

1ST FLOOR, CHISWICK PLACE 272 GUNNERSBURY AVENUE, LONDON, W45QU

FAX :+44-20-8747-2929

 

USA

300 SYLVAN AVENUE ENGLEWOOD CLIFFS, NEW JERSEY 07632

TEL :+1-201-8164063 FAX :+1-201-8164070

 

AFRICA

LIBYA

P.O. BOX 80062, TRIPOLI, LIBYA

TEL :+218-21-4834027/5112/1955 FAX :+218-21-4835113

 

NIGERIA

NO. 1, COOPER ROAD, ZENON TOWER-3A, IKOYI, LAGOS STATE, NIGERIA

TEL :+234-1-271-6444 FAX :+234-1-271-6445

Subsidiary

HYUNDAI ENGINEERING CO., LTD.(110111-2153015)

(72.5% held by the subject company)

 

HYUNDAI ENGINEERING & STEEL INDUSTERIES CO., LTD.(161411-0009437)

(99.4% held by the subject company)

 

HYUNDAI ENERGY CO., LTD.(206211-0039541)

HYUNDAI ARCHITECTS & ENGINEERS ASSOC.(110111-2210097)

HYUNDAI FARMLAND & DEVELOPMENT CO., LTD.(161411-0015129)

 

HYUNDAI CITY DEVELOPEMENT CO., LTD.(165111-0006964)

(100.0% held by the subject company)

 

HYUNDAI C&I CO., LTD.(110111-3580845)

HATAYRNC COMPANY CO., LTD.(110111-3705807)

 

MIDDLE EAST ENGINEERING AND DEVELOPMENT CO., LTD.

HYUNDAI ENGINEERING & CONSTRUCTION(WUXI) CO., LTD.

HYUNDAI ASIAN TECHNICS PTE. LTD.

HYUNDAI RNC HATAY CO., LTD.

HYUNDAI E&C VINA SONG GIA CO., LTD.

 

HYUNDAI ENGINEERING & CONSTRUCTION (WUXI) CO., LTD.

(100.0% held by the subject company)

 

 

Cooperative Enterprise

-Insured Company

HYUNDAI MARINE & FIRE INSURANCE CO., LTD.(110111-0035893)

 

 

Sales by Region (Activity & Markets)

 

Sales/ Unit :Mil KRW

03/2011

2010

2009

Export

1,155,072

4,905,603

4,324,479

Domestic

1,230,439

5,083,696

4,936,148

Others

-100,010

15,259

17,953

Total

2,285,501

10,004,558

9,278,580

The Subject deals with the companies in Asia and Middle East.

 

 

Court Action

 

Case No.

Court

Plaintiff(s)/ Creditor(s)/ Applicant(s)

Defendant(s)/ Debtor(s)/ Respondent(s)

Cause

Amount (KRW)

Status

 

 

Gamgye Development Co., ltd.

The Subject Company

Claim for Damages

9,960,000,000

1st round is proceeding

 

 

Kim Myung-Sook & Others(27)

The Subject Company

Refund of Agreed Payment

2,298,616,000

1st round is proceeding

 

 

Kim Jong-Hoon & Others(31)

The Subject Company, Eleven Construction Co., Ltd.(Korea), Hana Bank

Refund of Lotted Amount

6,111,000,000

1st round is proceeding

 

There are 166 cases filed as Defendant(s)/ Debtor(s)/ Respondent(s) amounting 258,374,000,000 KRW (including US$45,831,000).

 

 

News Clipping

 

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FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.79

UK Pound

1

Rs.99.30

Euro

1

Rs.78.16

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

NIT

 

               

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.