|
Report No. : |
335610 |
|
Report Date : |
08.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
HYUNDAI AND SHELL BASE OIL CO., LTD. |
|
|
|
|
Registered Office : |
182, Pyeongsin
2-ro, Daesan-eup, Seosan-si, Chungcheongnam-do, Korea, 356-874 |
|
|
|
|
Country : |
South
Korea |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
12.04.2012 |
|
|
|
|
Com. Reg. No.: |
161411-0027067 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares Foreign Direct Investment Corporation A Company of HYUNDAI HEAVY INDUSTRIES GROUP |
|
|
|
|
Line of Business : |
Manufacture of Lubricating Oils and Greases |
|
|
|
|
No. of Employees : |
13 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 economic 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. A system of close government and
business ties, including directed credit and import restrictions, initially
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 7%
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 over 6% growth in
2010. The US-Korea Free Trade Agreement was ratified by both governments in
2011 and went into effect in March 2012. Between 2012 and 2014, the economy
experienced slow growth due to sluggish domestic consumption and investment.
The administration in 2015 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 the heavy reliance on exports, which comprise about half of
GDP. In an effort to address the long term challenges and sustain economic
growth, the current government has prioritized structural reforms,
deregulation, promotion of entrepreneurship and creative industries, and the
competitiveness of small and medium enterprises.
|
Source
: CIA |
|
Company Name |
HYUNDAI AND SHELL BASE OIL CO., LTD. (Korean Company Name : “현대쉘베이스오일(주)”) |
|
Registered Address |
182, Pyeongsin
2-ro, Daesan-eup, Seosan-si, Chungcheongnam-do, Korea |
|
Building |
|
|
Zip Code |
356-874 |
|
Tel |
+82-2-2004-3044 |
|
Fax |
+82-2-2004-3553 |
|
E-mail |
hsbaseoil@habaseoil.com |
|
Website |
www.hsbaseoil.com |
|
Trading Address |
182,
Pyeongsin 2-ro, Daesan-eup, Seosan-si, Chungcheongnam-do, Korea (Old Address System : 640-6, Daejuk-ri,
Daesan-eup, Seosan-si, Chungcheongnam-do, Korea) |
|
Tel |
+82-2-2004-3044 |
|
Fax |
+82-2-2004-3553 |
|
Other Address |
20th Floor, Yonsei Severance Bldg., 10, Tongil-ro,
Jung-gu, Seoul, Korea |
|
Tel |
+82-2-2004-3496 |
|
Fax |
+82-2-2004-3553 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Lubricating Oils and Greases |
|
Main Business |
Lubricants, Grease |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
04/12/2012 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Grease(15121902) |
|
Sell |
Engine oil(15121501) |
|
Sell |
Brake oil(15121509) |
|
Sell |
Gear oil(15121503) |
|
Sell |
Lubricating preparations(15121500) |
|
Name |
Moon Jong-Bak |
|
Address |
Suite 335-1103, 5, Jamwon-ro 12-gil,
Seocho-gu, Seoul, Korea |
|
Date of Birth |
10/27/1957 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
13,000,000,000 |
||||||||||||
|
Employees |
13 |
||||||||||||
|
Formation |
Co., Ltd by Shares Foreign Direct Investment Corporation A Company of HYUNDAI HEAVY INDUSTRIES GROUP |
||||||||||||
|
Bank Details |
Korea Exchange Bank Kookmin Bank Hana Bank |
||||||||||||
|
Corporate Registered No. |
161411-0027067 |
||||||||||||
|
Business Registered No. |
316-81-19188 |
||||||||||||
|
Permit & Licenses |
N/A |
||||||||||||
|
Shareholder Position |
|
||||||||||||
|
Company History |
04/12/2012 Incorporated as the present name 07/18/2013 Increased the authorized shares
to 3,120,000 shares from 1,600,000 shares 01/16/2014 Increased capital to 13,000,000,000
KRW from 9,000,000,000 KRW |
||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Moon Jong-Bak |
Male |
Korean |
01/16/2014 |
|
Director |
Mr. |
Ju Young-Min |
Male |
Korean |
04/12/2012 |
|
Director |
Mr. |
Song Myung-Joon |
Male |
Korean |
04/12/2012 |
|
Director |
Mr. |
Ee Chang Sern |
Male |
Singaporean |
04/12/2012 |
|
Director |
Mr. |
Reint Jeroen Brink |
Male |
Netherlands |
04/12/2012 |
|
Auditor |
Mr. |
Kim Dong-Won |
Male |
Korean |
04/12/2012 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2014 |
345,045,308,000 |
429,771,821,000 |
20,958,459,000 |
|
2013 |
|
180,566,659,180 |
2,050,805,031 |
|
2012 |
|
32,160,409,922 |
-430,306,127 |
|
Authorized Capital(KRW) |
15,600,000,000 |
|
Paid-Up Capital(KRW) |
13,000,000,000 |
|
Total Issued Shares |
2,600,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total
Assets |
429,771,821,000 |
180,566,659,180 |
32,160,409,922 |
|
Current Assets |
118,989,795,000 |
13,333,190,690 |
22,529,806,629 |
|
Cash
& Cash Equivalents |
127,987,000 |
9,626,674,810 |
16,449,268,762 |
|
Current
Financial Instruments |
- |
- |
5,000,000,000 |
|
Trade
Receivables & Other Receivables |
79,692,504,000 |
3,392,574,440 |
349,201,046 |
|
Inventories |
39,016,305,000 |
|
|
|
Deferred
Income Tax Assets |
- |
60,115,741 |
44,052,650 |
|
Other
Current Assets |
152,999,000 |
253,825,699 |
687,284,171 |
|
Non-Current Assets |
310,782,026,000 |
167,233,468,490 |
9,630,603,293 |
|
Long-Term
Trade Receivables & Other Long-Term Receivables |
78,435,000 |
|
|
|
Tangibles |
308,423,434,000 |
163,393,102,400 |
9,104,657,147 |
|
Intangibles |
307,360,000 |
203,187,950 |
139,327,500 |
|
Deferred
Income Tax Assets |
1,972,797,000 |
3,637,178,140 |
386,618,646 |
|
Total Liabilities |
277,277,763,000 |
88,995,045,158 |
2,595,516,049 |
|
Current Liabilities |
82,756,452,000 |
8,950,753,454 |
2,595,516,049 |
|
Current
Financial Debts |
19,037,704,000 |
|
|
|
Trade
Payables & Other Payables |
62,388,144,000 |
8,950,738,734 |
2,595,490,139 |
|
Accrued
Income Tax |
1,270,279,000 |
|
|
|
Other
Current Liabilities |
60,325,000 |
14,720 |
25,910 |
|
Non-Current Liabilities |
194,521,311,000 |
80,044,291,704 |
- |
|
Long-Term
Borrowings |
194,401,183,000 |
80,000,000,000 |
- |
|
Confirmed
Salaries |
104,080,000 |
44,291,704 |
- |
|
Other Non-Current Liabilities |
16,048,000 |
|
|
|
Capital Stock |
13,000,000,000 |
9,000,000,000 |
3,000,000,000 |
|
Capital
Surplus |
116,932,178,000 |
80,955,595,910 |
26,995,200,000 |
|
Profit
Surplus |
22,561,880,000 |
1,616,018,112 |
-430,306,127 |
|
Total
Equity |
152,494,058,000 |
91,571,614,022 |
29,564,893,873 |
|
Liab.
& Shareholder’s Equity |
429,771,821,000 |
180,566,659,180 |
32,160,409,922 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
345,045,308,000 |
|
|
|
Cost
of Sold Goods |
314,017,907,000 |
|
|
|
Gross
Profit |
31,027,401,000 |
- |
- |
|
Selling
& Admin. Expenses |
4,332,247,000 |
1,619,710,630 |
1,227,560,446 |
|
Operating
Income |
26,695,154,000 |
-1,619,710,630 |
-1,227,560,446 |
|
Finance
Income |
538,140,000 |
381,640,366 |
378,269,700 |
|
Finance
Expenses |
3,735,492,000 |
654,526 |
1,287,000 |
|
Non-Operating
Income |
8,771,491,000 |
259,474,391 |
36,183,411 |
|
Non-Operating
Expenses |
8,336,535,000 |
219,158,780 |
2,530,438 |
|
Income
Before Taxes |
23,932,758,000 |
-1,198,409,179 |
-816,924,773 |
|
Income
Taxes Expenses |
2,974,299,000 |
-3,249,214,210 |
-386,618,646 |
|
Net
Income |
20,958,459,000 |
2,050,805,031 |
-430,306,127 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Operating Activities Cash Flows |
4,279,496,000 |
-5,973,408,518 |
754,810,992 |
|
Cash
Flows from Operating |
10,393,918,000 |
-5,309,256,005 |
484,200,479 |
|
Net
Income |
20,958,459,000 |
2,050,805,031 |
-430,306,127 |
|
-Exp.
without Cash Outflow |
- |
-3,110,429,699 |
-329,861,063 |
|
-Revenue
without Cash Inflows |
- |
-383,874,666 |
-378,269,700 |
|
-Changes
in Asset/ & Liability |
-23,676,245,000 |
-3,865,756,671 |
1,622,637,369 |
|
Interests
Received |
253,811,000 |
438,284,536 |
314,663,163 |
|
Interests
Paid |
-6,392,816,000 |
-1,086,373,958 |
- |
|
Income
Taxes |
24,583,000 |
-16,063,091 |
-44,052,650 |
|
Cash
Flows from Investing |
-187,370,143,000 |
-140,809,581,344 |
-14,300,742,230 |
|
Cash
Flows from Financing |
173,393,773,000 |
139,960,395,910 |
9,995,200,000 |
|
Increase/Decrease
in Cash |
-9,696,874,000 |
-6,822,593,952 |
-3,550,731,238 |
|
Cash
at the Beginning of Year |
9,626,675,000 |
16,449,268,762 |
20,000,000,000 |
|
Cash
at the End of Year |
127,987,000 |
9,626,674,810 |
16,449,268,762 |
|
Main Products & Services |
Lubricants, Grease |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
|
|
Competitors |
GS CALTEX CORPORATION GS GANGNAM TOWER, 679, YEOKSAM 1-DONG,
GANGNAM-GU, SEOUL, KOREA TEL:+82-2-2005-1114 FAX:+82-2-2005-6051 S-OIL CORPORATION 45TH FL., KOREA LIFE INSURANCE 63 BLDG.,
60, YEOEUIDO-DONG, YEONGDEUNGPO-GU, SEOUL, KOREA TEL:+82-2-3772-5151 FAX:+82-2-786-4030 ISU CHEMICAL CO., LTD. 112-4, BANPO 4-DONG, SEOCHO-GU, SEOUL,
KOREA TEL:+82-2-590-6600 FAX:+82-2-590-6666 |
|
Affiliates |
HYUNDAI HEAVY INDUSTRIES CO., LTD.(181211-0000386) HYUNDAI MIPO DOCKYARD CO.,
LTD.(181211-0000526) 1381, BANGUH-DONG, TONG-GU, ULSAN 682-712
KOREA TEL:+82-52-250-3114 FAX:+82-52-250-3059 INDUSTRY: SHIPBUILDING, CONVERSION,
REPAIRING HYUNDAI VENTURE INVESTMENT
CORP.(110111-1399941) 4 FL. HYUNDAI BLDG. 77, MUGYO-DONG,
JUNG-GU, SEOUL 100-775 KOREA TEL:+82-2-728-8990 FAX:+82-2-728-8999 INDUSTRY: INVESTMENT IN VENTURE FIRMS HYUNDAI FUTURES CORPORATION(110111-1367740) 3RD FL. HYUNDAI INVESTMENT TRUST &
SECURITIES BLDG., 23-4 YEOEUIDO-DONG, YEONGDEUNGPO-GU, SEOUL 150-725 KOREA TEL:+82-2-788-7000 FAX:+82-2-788-7040 INDUSTRY: COMMODITY EXCHANGE HYUNDAI SAMHO HEAVY INDUSTRIES CO., LTD.(
205411-0003915) 1700, YONGDANG-RI, SAMHO-MYEON,
YEONGAM-GUN, JEONNAM-DO 526-751 KOREA TEL:+82-61-460-2114 FAX:+82-61-460-3701 INDUSTRY: BUILDING OF STEEL SHIPS HYUNDAI FINANCE CORP.(110111-1238628) HYUNDAI BLDG. EAST 77, MUGYO-DONG, JUNG-GU,
SEOUL 100-170 KOREA TEL:+82-2-728-8800 FAX:+82-2-728-8887 INDUSTRY:
OTHER CREDIT GRANTING N.E.C. |
|
Affiliates |
MIPO ENGINEERING CO., LTD.(230111-0108075) 4TH FL., GISEONG BLDG., 1304-10, DAL-DONG,
NAM-GU, ULSAN, KOREA TEL:+82-52-261-7101 FAX:+82-52-261-8796 ULSAN HYUNDAI FOOTBALL CLUB
CO.,LTD.(230111-0141413) 137-1, SEOBU-DONG, DONG-GU, ULSAN, KOREA TEL:+82-52-202-6141~4 FAX:+82-52-202-6145 WARTSILA-HYUNDAI ENGINE COMPANY
LTD(205414-0004701) 5B, DAEBUL INDUSTRIAL COMPLEX, 611-2,
NABUL-RI, SAMHO-EUP, YEONGAM-GUN, JEOLLANAM-DO, KOREA TEL:+82-61-983-1107 FAX:+82-61-983-1110 HYMS CO., LTD.(230111-0143443) RM. 208, MAEGOK INDUSTRIAL COMPLEX, 342-2,
MAEGOK-DONG, BUK-GU, ULSAN, KOREA TEL:+82-52-203-9073 FAX:+82-52-203-9092 KOMAS CORPORATION(230111-0146231) 686, BANGEO-DONG, DONG-GU, ULSAN, KOREA TEL:+82-52-202-1458 FAX:+82-52-202-1424 HI INVESTMENT & SECURITIES CO.,LTD.(180111-0093095) 153-10, ONCHEON 1-DONG, DONGNAE-GU, BUSAN,
KOREA TEL:+82-51-554-5111 FAX:+82-51-554-5222 HI ASSET MANAGEMENT CO.,
LTD.(110111-165498) 25, YEOUIDO-DONG, YEONGDEUNGPO-GU, SEOUL,
KOREA TEL:+82-2-727-2734 FAX:+82-2-727-2897 HYUNDAI CORPORATION(110111-0205850) 11TH FI., HYUNDAI BLDG., 140-2, GYE-DONG,
JONGNO-GU, SEOUL, KOREA TEL:+82-2-390-1114 FAX:+82-2-390-1101 HYUNDAI OILBANK CO., LTD.(110111-0090558) 640-6. DAEJUK-RI, DAESAN-EUP, SEOSAN-SI, CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-660-5114 FAX:+82-41-660-5111 |
|
Affiliates |
HOTEL HYUNDAI GYEONGPODAE CO.,
LTD.(141111-0031183) 274-1, GANGMUN-DONG, GANGNEUNG-SI,
GANGWON-DO, KOREA TEL:+82-33-651-2233 FAX:+82-33-644-2203 HOTEL HYUNDAI CO., LTD.(134511-0045797) (100.0% held by the subject company) 477-2, SINPYEONG-DONG, GYEONGJU-SI,
GYEONGSANGBUK-DO, KOREA TEL:+82-54-748-2233 FAX:+82-54-748-8234 TAEBAEK WIND POWER CO., LTD.(144811-0007492) 524-153, HASAMI-DONG, TAEBAEK-SI, GANGWON-DO, KOREA TEL:+82-2-746-8402 FAX:+82-2-746-7675 MUJU WIND POWER CO., LTD.(210111-0070434) CHANGJUK WIND PIWER CO., LTD.(144811-0008101) HYUNDAI RESOURCES DEVELOPMENT CO., LTD.(110111-4573807) HYUNDAI-AVANCICS CO., LTD.(150111-0142989) HYUNDAI COSMO PETROCHEMICAL CO., LTD.(161411-0022364) HYUNDAI OI L TERMINAL CO., LTD.(230111-0188027) NEW KOREA COUNTRY CLUB CO., LTD.(114711-0000014) |
|
Specially Related Companies |
HANKOOK SHELL OIL CO., LTD(180111-0002591) SHELL EASTERN TRADING (PTE)LTD SHELL INTERNATIONAL EASTERN TRADING CO. SHELL GLOBAL SOLUTION |
|
Affiliates-Overseas |
HYUNDAI TECHNOLOGIES CENTER HUNGARY KFT HYUNDAI HEAVY INDUSTRIES CO. BULGARIA HYUNDAI HEAVY INDUSTRIES EUROPE N.V. HYUNDAI CONSTRUCTION EQUIPMENT AMERICAS,
INC. VLADIVOSTOK BUSINESS CENTER CO., LTD. WEI HYUNDAI WIND POWER TECHNOLOGY CO.,
LTD.(CHINA) HYUNDAI(SHANDONG) HEAVY INDUSTRIES
MACHINERY CO., LTD.(CHINA) HYUNDAI ELECTRIC SYSTEMS ALABAMA, INC. HYUNDAI HEAVY INDUSTRIES(SHANGHAI) CO.,
LTD.(CHINA) YANTAI HYUNDAI HEAVY INDUSTRIES CO., LTD. |
|
Corporate Ownership |
HYUNDAI HEAVY INDUSTRIES CO., LTD.(181211-0000386) HYUNDAI OILBANK CO., LTD.(110111-0090558) |
|
Major Shareholders |
HYUNDAI OILBANK CO., LTD.(110111-0090558) THE SHELL PETROLEUM COMPANY LIMITED |
|
Cooperative Enterprise |
|
Not Available.
No.
------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.81 |
|
|
1 |
Rs.98.93 |
|
Euro |
1 |
Rs.69.66 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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.