|
Report No. : |
337282 |
|
Report Date : |
20.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
CHEMTRONICS CO., LTD. |
|
|
|
|
Registered Office : |
31, Baeil-Gil, Jeondong-Myeon, Sejong-Si,
Korea 30010 |
|
|
|
|
Country : |
South
Korea |
|
|
|
|
Financials (as on) : |
31.03.2015 |
|
|
|
|
Date of Incorporation : |
01.04.1997 |
|
|
|
|
Com. Reg. No.: |
129-81-21998 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
· Manufacture of Instruments for Automatic Measurement or Control · Manufacture of All Other Chemical Products n.e.c. |
|
|
|
|
No. of Employees : |
350 |
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 |
CHEMTRONICS CO.,
LTD. |
|
Registered Address |
31, Baeil-gil, Jeondong-myeon, Sejong-si,
Korea (Old Address System : 167-8,
Cheongsong-ri, Jeondong-myeon, Sejong, Korea) |
|
Zip Code |
30010 |
|
Tel |
+82-44-868-3011 |
|
Fax |
+82-44-868-3015 |
|
E-mail |
|
|
Website |
|
|
|
|
|
Trading Address |
49, Daewangpangyo-ro 644beon-gil, Bundang-gu, Seongnam-si,
Gyeonggi-do, Korea |
|
Tel |
+82-31-776-7690 |
|
Fax |
+82-31-776-7691 |
|
|
|
|
Other Address-Osan Factory |
35, Buk-ri, Namsa-myeon, Cheoin-gu, Yongin-si,
Gyeonggi-do, Korea |
|
Tel |
+82-31-321-3800 |
|
Fax |
+82-31-321-4908 |
|
|
|
|
Other Address-Gwangju Factory |
614-5, Maesan-ri, Opo-eup, Gwangju-si,
Gyeonggi-do, Korea |
|
Tel |
+82-31-321-3800 |
|
Fax |
+82-31-765-4799 |
|
|
|
|
Other Address-Pyeongtaek Factory |
45, Poseunggongdan-ro 118beon-gil,
Poseung-eup, Pyeongtaek-si, Gyeonggi-do, Korea (Old Address System : 679-18, Naegi-ri,
Poseung-eup, Pyeongtaek-si, Gyeonggi-do, Korea) |
|
Tel |
+82-31-683-7461 |
|
Fax |
+82-31-683-7465 |
|
|
|
|
Type |
Export/Import |
|
Industry |
Manufacture of Instruments for Automatic Measurement or Control |
|
Main Business |
Touch Sensor, Lever Sensor, Chemicals, OLED Thin Glass |
|
Sub
Business |
Manufacture of All Other Chemical Products n.e.c. |
|
Established (mm/dd/yyyy) |
04/01/1997 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Integrated circuits(32101600) |
|
Sell |
Switches and controls and relays and
accessories(39121500) |
|
Sell |
Level sensors or transmitters(41111938) |
|
Sell |
Proximity sensors(41111926) |
|
Sell |
Chemicals including Bio Chemicals and Gas
Materials(12000000) |
|
Name |
Kim Bo-Kyun |
|
Address |
|
|
Date of Birth |
05/27/1954 |
|
Title |
Chairman & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
4,442,079,000 |
||||||||||||||||||||||||||||||
|
Employees |
350 |
||||||||||||||||||||||||||||||
|
Formation |
Listed Company (KOSDAQ : 089010) as of 01/17/2007 |
||||||||||||||||||||||||||||||
|
Bank Details |
Industrial Bank of Korea Korea Development Bank-Ansan Branch |
||||||||||||||||||||||||||||||
|
Corporate Registered No. |
131111-0028116 |
||||||||||||||||||||||||||||||
|
Business Registered No. |
129-81-21998 |
||||||||||||||||||||||||||||||
|
Permit & Licenses |
06/2003 ISO 9001 11/2004 ISO 14001 09/2008 ISO 9001 09/2008 ISO 14001 Int’l Trade No.: 11412511 |
||||||||||||||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||||||||||||||
|
Company History |
04/01/1997 Incorporated as Hyupjin Chemical
Co., Ltd. 11/2000 Changed company name to the present
name 04/02/2009 Moved to the present HQ registered
address from 45, Poseunggongdan-ro 118beon-gil, Poseung-eup, Pyeongtaek-si,
Gyeonggi-do, Korea(Old Address System : 679-18, Naegi-ri, Poseung-eup,
Pyeongtaek-si, Gyeonggi-do, Korea) 06/24/2005 Designated as a Venture Business 06/24/2006 Designated as a Venture Business
again 11/2010 Awarded US$ 100 Million Export Top
Prize |
||||||||||||||||||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education/Career |
|
Chairman & CEO |
Mr. |
Kim Bo-Kyun |
Korean |
1954.05.27 |
Kunkuk University, Korea |
|
President |
Mr. |
Kwon Yoon-Ho |
Korean |
1958.10 |
Samsung Electronics Co.,
Ltd.(130111-0006246) |
|
Vice President |
Mr. |
Lee Kang-Sun |
Korean |
1961.06.09 |
Kunkuk University, Korea |
|
Outside Director |
Mr. |
Song In-Kwon |
Korean |
1953.10 |
Hyundai Group |
|
Auditor |
Mr. |
Bae Jae-Moon |
Korean |
1953.12 |
Samsung Electro-Mechanics Co.,
Ltd.(130111-0001626) |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
03/2015 |
64,802,972,276 |
212,587,321,361 |
-2,917,816,534 |
|
2014 |
255,967,546,023 |
203,205,230,366 |
-6,651,085,624 |
|
2013 |
292,718,335,650 |
198,122,683,613 |
25,361,655,761 |
|
2012 |
232,682,725,212 |
169,146,215,676 |
16,390,378,050 |
|
2011 |
225,962,460,928 |
151,263,310,312 |
7,516,750,259 |
|
2010 |
196,633,237,977 |
139,903,649,528 |
6,620,371,936 |
|
Authorized Capital(KRW) |
20,000,000,000 |
|
Paid-Up Capital(KRW) |
4,442,079,000 |
|
Total Issued Shares |
8,884,158 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
01/01/2015~03/31/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Total Assets |
212,587,321,361 |
203,205,230,366 |
198,122,683,613 |
|
Current
Assets |
105,311,304,875 |
95,199,724,622 |
98,698,951,257 |
|
Cash & Cash Equivalents |
4,235,282,868 |
2,553,728,930 |
878,855,222 |
|
Current Financial Instruments |
4,014,379,757 |
3,911,197,582 |
3,218,062,184 |
|
Trade Receivables & Other
Receivables |
61,993,707,232 |
56,431,347,379 |
69,744,739,987 |
|
Other Current Assets |
575,520,520 |
396,546,803 |
443,500,204 |
|
Inventories |
34,637,226,431 |
32,074,159,262 |
24,413,814,190 |
|
Non-Current
Assets |
107,276,016,486 |
108,005,505,744 |
99,423,732,356 |
|
Non-Current Financial Instruments |
1,740,562,019 |
1,669,842,825 |
2,138,506,201 |
|
Marketable Financial Instruments |
2,825,000,000 |
2,825,000,000 |
3,375,000,000 |
|
Other Receivables |
1,967,853,173 |
2,190,064,339 |
2,508,106,642 |
|
Investment_Subsidiaries |
9,281,482,552 |
9,281,482,552 |
7,639,931,552 |
|
Tangibles |
84,273,615,946 |
85,940,881,592 |
80,204,140,213 |
|
Intangibles |
2,868,600,130 |
2,727,753,298 |
2,924,362,865 |
|
Deferred Income Tax Assets |
4,318,902,666 |
3,370,481,138 |
633,684,883 |
|
Total
Liabilities |
126,993,861,367 |
114,693,953,838 |
99,026,749,808 |
|
Current
Liabilities |
111,456,628,801 |
98,589,557,321 |
70,756,402,797 |
|
Trade Payables & Other
Payables |
25,498,506,101 |
18,971,535,503 |
24,008,829,893 |
|
Short-Term Borrowings |
64,394,207,287 |
58,333,163,927 |
42,585,076,319 |
|
Current Portion of Long-Term
Debts |
3,591,541,704 |
3,399,804,820 |
2,422,139,121 |
|
Deferred Income Tax Credit |
|
|
1,712,121,401 |
|
Other Current Liabilities |
89,387,409 |
149,430,521 |
28,236,063 |
|
Exchangeable
Securities |
17,882,986,300 |
17,735,622,550 |
|
|
Non-Current
Liabilities |
15,537,232,566 |
16,104,396,517 |
28,270,347,011 |
|
Long-Term Borrowings |
10,612,725,894 |
11,474,528,656 |
7,988,213,819 |
|
Convertible Bonds |
|
|
17,146,947,961 |
|
Confirmed Salaries |
4,361,189,323 |
4,066,550,512 |
2,874,429,899 |
|
Other Non-Current Liabilities |
563,317,349 |
563,317,349 |
260,755,332 |
|
Capital
Stock |
4,442,079,000 |
4,442,079,000 |
4,240,725,500 |
|
Capital Surplus |
32,271,873,632 |
32,271,873,632 |
32,271,873,632 |
|
Capital Adjustment |
-6,202,359,001 |
-6,413,780,501 |
-6,413,780,501 |
|
Profit Surplus |
55,081,866,363 |
58,211,104,397 |
68,997,115,174 |
|
Total Equity |
85,593,459,994 |
88,511,276,528 |
99,095,933,805 |
|
Liab. & Shareholder’s Equity |
212,587,321,361 |
203,205,230,366 |
198,122,683,613 |
|
Income Statement |
|||
|
Unit : Korean Won |
01/01/2015~03/31/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Sales |
64,802,972,276 |
255,967,546,023 |
292,718,335,650 |
|
Cost of Sold Goods |
61,007,512,080 |
239,041,766,403 |
245,364,002,275 |
|
Gross Profit |
3,795,460,196 |
16,925,779,620 |
47,354,333,375 |
|
Selling & Admin. Expenses |
5,906,180,546 |
22,559,409,713 |
22,202,659,416 |
|
Other Income |
-2,110,720,350 |
-5,633,630,093 |
25,151,673,959 |
|
Finance Income |
47,261,935 |
1,266,713,356 |
7,409,833,585 |
|
Finance Expenses |
757,876,561 |
4,948,798,619 |
3,174,883,805 |
|
Other Income |
456,163,249 |
4,824,861,561 |
5,177,703,730 |
|
Other Expenses |
1,501,066,335 |
4,987,048,715 |
4,072,437,013 |
|
Income Before Taxes |
-3,866,238,062 |
-9,477,902,510 |
30,491,890,456 |
|
Income Taxes Expenses |
-948,421,528 |
2,826,816,886 |
5,130,234,695 |
|
Net Income |
-2,917,816,534 |
-6,651,085,624 |
25,361,655,761 |
|
Cash Flows |
|||
|
Unit : Korean Won |
01/01/2015~03/31/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Operating
Activities Cash Flows |
-3,102,847,347 |
4,401,202,561 |
21,003,847,440 |
|
Cash Flows from Operating |
-2,878,449,968 |
6,637,583,118 |
28,394,033,393 |
|
Net Income |
-2,917,816,534 |
-6,651,085,624 |
25,361,655,761 |
|
Adjustment |
3,063,615,892 |
13,339,718,705 |
13,830,528,634 |
|
Changes in Asset/ & Liability |
-3,024,249,326 |
-51,049,963 |
-10,798,151,002 |
|
Dividends Received |
|
9,750,000 |
6,750,000 |
|
Interests Received |
83,119,396 |
399,019,992 |
751,093,086 |
|
Interests Paid |
-307,516,775 |
-1,223,845,035 |
-1,532,223,334 |
|
Income Taxes |
|
-1,421,305,514 |
-6,615,805,705 |
|
Cash Flows from Investing |
-1,473,833,584 |
-17,915,213,975 |
-38,407,282,636 |
|
Cash Flows from Financing |
6,334,436,832 |
15,112,458,468 |
5,754,142,077 |
|
Increase/Decrease in Cash |
1,681,553,938 |
1,674,873,708 |
-11,649,293,205 |
|
Cash at the Beginning of Year |
2,553,728,930 |
878,855,222 |
12,528,148,427 |
|
Cash at the End of Year |
4,235,282,868 |
2,553,728,930 |
878,855,222 |
|
Main Products & Services |
Touch Sensor, Lever Sensor, Chemicals |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
SUNGJI ELECTRONICS CO.,
LTD.(1760110-068202) |
|
Customers |
SAMSUNG ELECTRONICS CO., LTD.(130111-0006246) SAMSUNG DISPLAY CO., LTD.(134511-0187812) |
|
Competitors |
ESTRONIX
CO., LTD. RM. 403, VENTURE
INCUBATOR CENTER, KUMHO NATIONAL UNIVERSITY OF TECHNOLOGY, 1, YANGHO-DONG,
GUMI-SI, GYEONGSANGBUK-DO, KOREA TEL:+82-54-475-5190 FAX:+82-54-475-5191 SYNOPEX INC. 856,
SONGDONG-RI, DAESONG-MYEON, NAM-GU, POHANG-SI, GYEONGSANGBUK-DO, KOREA TEL:+82-54-289-4012 FAX:+82-54-278-6716 KORTEK
CORPORATION 1385-15,
JUAN 5-DONG, NAM-GU, INCHEON, KOREA TEL:+82-32-860-3000 FAX:+82-32-862-6839 ATMEL,
CYPRESS, SYNAPTICS |
|
Affiliates |
TIANJIN HYUPJIN CABLE CO., LTD.(CHINA) JINYANG DEVELOPMENT CO., LTD.(KOREA) |
|
Overseas Office |
|
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
|
|
Subsidiary |
TIANJIN HYUPJIN ELECTRONICS CO.,
LTD.(CHINA) (100.0% held by the subject company) CHEMTRONICS USA (100.0% held by the subject company) CHEMTRONICS EUROPE S.R.O.(SLOVAKIA) (100.0% held by the subject company) PT. CHEMTRONICS INDONESIA (99.0% held by the subject company) HS SOLAR CO., LTD.(135511-0185683) (60.0% held by the subject company) |
The Subject deals
with the companies in North America, Europe and China.
No.
---------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.25 |
|
|
1 |
Rs.102.25 |
|
Euro |
1 |
Rs.72.20 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.