|
Report No. : |
337696 |
|
Report Date : |
20.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
EVERDIGM CORP. |
|
|
|
|
Registered Office : |
49, Buyeong-Gil, Jincheon-Eup, Jincheon-Gun,
Chungcheongbuk-Do, Korea 27844 |
|
|
|
|
Country : |
South
Korea |
|
|
|
|
Financials (as on) : |
30.06.2015 |
|
|
|
|
Date of Incorporation : |
01.06.1994 |
|
|
|
|
Com. Reg. No.: |
107-81-45758 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Motor Vehicle Bodies and Motor Vehicles Assembled on
Purchased Chassis. |
|
|
|
|
No. of Employees : |
398 |
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 |
EVERDIGM CORP. |
|
Registered Address |
49, Buyeong-gil, Jincheon-eup,
Jincheon-gun, Chungcheongbuk-do, Korea (Old Address System : 332-3, Janggwan-ri, Jincheon-eup,
Jincheon-gun, Chungcheongbuk-do, Korea) |
|
Zip Code |
27844 |
|
Tel |
+82-43-530-3300 +82-1588-0758 |
|
Fax |
+82-43-530-3318 |
|
E-mail |
everdigm@everdigm.com |
|
Website |
www.everdigm.com |
|
|
|
|
Trading Address |
Rm.1203, Woolim Lions 2 Cha, 2, Gasan
digital 1-ro, Geumcheon-gu, Seoul, Korea (Old Address System : Rm.1203, Woolim
Lions 2 Cha, 680, Gasan-dong ,Geumcheon-gu, Seoul, Korea) |
|
Tel |
+82-2-801-0700 +82-2-801-0800 |
|
Fax |
+82-2-801-0701 +82-2-801-0801 |
|
|
|
|
Other Address-Cheonan Depot |
27, Seokjae-gil, Ipjang-myeon, Seobuk-gu,
Cheonan-si, Chungcheongnam-do, Korea (Old Address System : 307, Hajang-ri,
Ipjang-myeon, Seobuk-gu, Cheonan-si, Chungcheongnam-do, Korea) |
|
Tel |
+82-43-530-3327 |
|
Fax |
+82-43-530-3332 |
|
|
|
|
Other Address-Rock Tool |
300, Wanjusandan 5-ro, Bongdong-eup,
Wanju-gun, Jeollabuk-do, Korea (Old Address System : 764-2, Yongam-ri,
Bongdong-eup, Wanju-gun, Jeollabuk-do, Korea) |
|
Tel |
+82-63-536-1582 |
|
|
|
|
Type |
Export/Import |
|
Industry |
Manufacture of Motor Vehicle Bodies and Motor Vehicles Assembled on
Purchased Chassis |
|
Main Business |
Concrete Pump Truck, Tower Crane, Hydraulic Breaker, Hydraulic
Crusher, Clamp, Attachment |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
06/01/1994 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Crushers and breakers and grinders(20101700) |
|
Sell |
Clamps(31162900) |
|
Sell |
Rock breakers(20101711) |
|
Sell |
Paving equipment(22101600) |
|
Sell |
Track excavators(22101526) |
|
Sell |
Tower cranes(24101623) |
|
Sell |
Heavy equipment components(22101700) |
|
Buy |
Hexagonal bolts(31161620) |
|
Buy |
Needle bearings(31171512) |
|
Buy |
Thrust bearings(31171507) |
|
Buy |
Bolts(31161600) |
|
Buy |
Square nuts(31161730) |
|
Buy |
Wing nuts(31161717 |
|
Buy |
Eye nuts(31161711) |
|
Buy |
Iron(11101713) |
|
Buy |
Iron plate(30102203) |
|
Buy |
Stud bolts(31161619) |
|
Buy |
Roller bearings(31171505) |
|
Buy |
Ball bearings(31171504) |
|
Name |
Jeon Byong-Chan(Bernard) |
|
Address |
|
|
Date of Birth |
08/15/1955 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
8,957,972,000 |
||||||||||||||||||||||||
|
Employees |
398 |
||||||||||||||||||||||||
|
Formation |
Listed Company (KOSDAQ : 041440) as of 11/14/2003 Venture Business |
||||||||||||||||||||||||
|
Bank Details |
Industrial Bank of Korea-Haan Dong Branch Korea Exchange Bank-Chungju Buk Branch Kookmin Bank Shinhan Bank |
||||||||||||||||||||||||
|
Corporate Registered No. |
110111-1042574 |
||||||||||||||||||||||||
|
Business Registered No. |
107-81-45758 |
||||||||||||||||||||||||
|
Permit & Licenses |
07/1997 CE Mark 04/2005 CE Mark 09/2005 ISO 9001 09/2005 ISO 14001 Int’l Trade No.: 11180384 |
||||||||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||||||||
|
Company History |
06/01/1994 Incorporated as HANWOO HEAVY
EQUIPMENT CORP. 04/2000 Changed company name to HANWOO
T&C CORP. 03/2007 Changed company name to the present
name 11/2008 Awarded US$ 100 Million Export Top
Prize |
||||||||||||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
President & CEO |
Mr. |
Jeon Byong-Chan(Bernard) |
Korean |
1955.08.15 |
Yonsei University, Korea |
|
Auditor |
Mr. |
Cho Dong-Hyun |
Korean |
1955.08. |
Gangnung Commercial High, Korea |
|
Director |
Mr. |
Kim Jong-Kyu |
Korean |
1965.02. |
Seoul National University, Korea |
|
Director |
Mr. |
Jung Ki-Joon |
Korean |
1967.11. |
MBA Emory University |
|
Outside Director |
Mr. |
Lee Byung-Kook |
Korean |
1964.07. |
Gyungbuk National University, Korea |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
06/2015 |
148,968,970,833 |
289,618,562,413 |
6,239,619,910 |
|
2014 |
291,612,069,458 |
288,972,698,017 |
12,907,134,326 |
|
2013 |
270,750,791,953 |
254,684,440,935 |
16,488,743,546 |
|
2012 |
237,630,415,563 |
217,900,360,388 |
14,687,213,808 |
|
2011 |
186,168,618,110 |
193,339,368,903 |
13,304,715,016 |
|
2010 |
172,935,625,433 |
173,138,515,365 |
8,318,061,674 |
|
Authorized Capital(KRW) |
50,000,000,000 |
|
Paid-Up Capital(KRW) |
8,957,972,000 |
|
Total Issued Shares |
17,915,944 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
01/01/2015~06/30/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Total
Assets |
289,618,562,413 |
288,972,698,017 |
254,684,440,935 |
|
Current Assets |
200,083,467,275 |
199,081,193,725 |
162,813,419,846 |
|
Cash
& Cash Equivalents |
4,087,025,151 |
3,643,385,184 |
2,132,034,296 |
|
Trade
Receivables & Other Receivables |
112,843,567,603 |
107,557,760,250 |
87,777,163,255 |
|
Held-to-Maturity
Financial Assets |
47,230,000 |
123,045,000 |
101,410,000 |
|
Current
Financial Instruments |
2,718,669,687 |
4,511,479,483 |
1,772,393,336 |
|
Inventories |
77,183,184,386 |
78,108,966,477 |
66,005,029,280 |
|
Other
Current Assets |
3,203,790,448 |
5,136,557,331 |
5,025,389,679 |
|
Non-Current Assets |
89,535,095,138 |
89,891,504,292 |
91,871,021,089 |
|
Marketable
Financial Instruments |
161,176,515 |
161,176,515 |
58,248,525 |
|
Held-to-Maturity
Financial Assets |
268,045,000 |
285,615,000 |
408,660,000 |
|
Non-Current
Financial Instruments |
2,057,134,354 |
1,820,488,724 |
1,347,323,302 |
|
Investment_Related
Companies |
23,025,915,376 |
21,946,915,376 |
21,946,915,376 |
|
Tangibles |
45,071,753,221 |
48,768,631,606 |
50,402,177,882 |
|
Intangibles |
3,716,186,925 |
2,611,018,244 |
2,972,550,299 |
|
Investment_Real
Estates |
3,819,201,635 |
3,866,135,903 |
4,268,534,595 |
|
Deferred
Income Tax Assets |
5,112,076,281 |
3,819,760,918 |
3,035,036,289 |
|
Long-Term
Trade Receivables & Other Long-Term Receivables |
5,508,811,940 |
5,806,812,976 |
6,606,147,196 |
|
Other
Non-Current Assets |
794,793,891 |
804,949,030 |
825,427,625 |
|
Total Liabilities |
141,965,942,302 |
144,546,010,156 |
118,893,583,319 |
|
Current Liabilities |
122,519,482,703 |
129,475,624,264 |
105,258,900,554 |
|
Trade
Payables & Other Payables |
40,668,760,365 |
37,148,755,074 |
34,702,697,386 |
|
Short-Term
Borrowings |
75,082,975,992 |
86,231,777,495 |
63,757,051,754 |
|
Derivatives |
|
1,011,407,403 |
|
|
Other
Current Financial Debts |
41,094,658 |
50,071,327 |
47,938,630 |
|
Deferred
Income Tax Credit |
2,749,933,797 |
2,487,101,430 |
2,184,899,296 |
|
Current
Portion of Provisions |
722,960,324 |
618,558,633 |
1,323,596,455 |
|
Other
Current Liabilities |
3,253,757,567 |
1,927,952,902 |
3,242,717,033 |
|
Non-Current Liabilities |
19,446,459,599 |
15,070,385,892 |
13,634,682,765 |
|
Long-Term
Borrowings |
2,375,000,000 |
525,000,000 |
2,825,000,000 |
|
Provision
for Severance & Retirement |
16,749,082,236 |
14,389,741,029 |
10,430,689,698 |
|
Other
Non-Current Financial Debts |
322,377,363 |
155,644,863 |
378,993,067 |
|
Capital |
40,878,760,381 |
40,878,760,381 |
40,878,760,381 |
|
Capital
Surplus |
3,253,790,891 |
3,049,034,393 |
2,596,508,969 |
|
Others |
-626,858,354 |
-846,919,972 |
-754,259,371 |
|
Profit
Surplus |
104,146,927,193 |
101,345,813,059 |
93,069,847,637 |
|
Total
Equity |
147,652,620,111 |
144,426,687,861 |
135,790,857,616 |
|
Liab.
& Shareholder’s Equity |
289,618,562,413 |
288,972,698,017 |
254,684,440,935 |
|
Income Statement |
|||
|
Unit : Korean Won |
01/01/2015~06/30/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Sales |
148,968,970,833 |
291,612,069,458 |
270,750,791,953 |
|
Cost of Sold Goods |
122,814,673,676 |
240,264,644,811 |
218,360,871,172 |
|
Gross Profit |
26,154,297,157 |
51,347,424,647 |
52,389,920,781 |
|
Selling & Admin. Expenses |
18,357,540,739 |
32,868,508,175 |
32,046,566,459 |
|
Operating Income |
7,796,756,418 |
18,478,916,472 |
20,343,354,322 |
|
Finance Income |
3,591,800,627 |
5,096,566,168 |
3,449,043,735 |
|
Finance Expenses |
2,883,967,302 |
7,313,042,238 |
6,377,146,514 |
|
Other Income |
120,470,892 |
182,908,215 |
88,522,738 |
|
Other Expenses |
80,817,929 |
355,134,332 |
302,357,699 |
|
Income Before Taxes |
8,544,242,706 |
16,090,214,285 |
17,201,416,582 |
|
Income Taxes Expenses |
2,304,622,796 |
3,183,079,959 |
712,673,036 |
|
Net Income |
6,239,619,910 |
12,907,134,326 |
16,488,743,546 |
|
Cash Flows |
|||
|
Unit : Korean Won |
01/01/2015~06/30/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Operating Activities Cash Flows |
12,209,004,666 |
-8,226,721,019 |
-4,429,059,341 |
|
Net
Income |
6,239,619,910 |
12,907,134,326 |
16,488,743,546 |
|
Adjustment |
8,769,655,928 |
15,765,379,072 |
15,010,724,559 |
|
Changes
in Asset/ & Liability |
1,215,610,023 |
-33,080,645,997 |
-33,113,999,172 |
|
Interests
Received |
73,428,745 |
141,271,366 |
275,786,456 |
|
Interests
Paid |
-977,680,950 |
-1,774,963,696 |
-2,001,056,705 |
|
Income
Taxes |
-3,111,628,990 |
-2,184,896,090 |
-1,089,258,025 |
|
Cash
Flows from Investing |
134,943,430 |
-6,259,465,789 |
-13,241,693,483 |
|
Cash
Flows from Financing |
-11,912,399,868 |
16,013,508,710 |
16,905,168,970 |
|
Increase/Decrease
in Cash |
443,639,967 |
1,511,350,888 |
-766,712,959 |
|
Cash
at the Beginning of Year |
3,643,385,184 |
2,132,034,296 |
2,898,747,255 |
|
Cash
at the End of Year |
4,087,025,151 |
3,643,385,184 |
2,132,034,296 |
|
Main Products & Services |
Concrete Pump Truck Tower Crane Fire Engine Attachment Materials & Components Used Equipment Crawler Drill Brand Name : DCP36-3, HCP36X, HCP43, HCP52,
HCP15000 |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
SAMSUNG HEAVY INDUSTRIES CO.,
LTD.(110111-0168595) DOOSAN INFRACORE CO., LTD.(120111-0234469) VOLVO CONSTRUCTION EQUIPMENT KOREA
LTD.(194211-0030164) AMKODOR(RUSSIA) PROMYSHLENNLY LEASING(RUSSIA) HOOSOO INTERNATIONAL LTD(RUSSIA) NAMKWANG INTERNATIONAL E&C LDA-ANGOLA SAUDI DIESEL EQUIPMENT CO., LTD-SAUDI
ARABIA AL WAIST MACHINERY TRADING EST.-U.A.E. |
|
Competitors |
SOOSAN HEAVY INDUSTRIES CO., LTD.(134811-0002981) 109-2, SONGSAN-RI, YANGGAM-MYEON,
HWASEONG-SI, GYEONGGI-DO, KOREA TEL:+82-31-352-7733 FAX:+82-31-350-5290 DAEMO ENGINEERING CO.,LTD.(110111-0633556) 2BA-515, SIHWA INDUSTRIAL COMPLEX, 2178-5,
JEONGWANG 2-DONG, SIHEUNG-SI, GYEONGGI-DO, KOREA TEL:+82-31-488-6000 FAX:+82-31-496-0066 KOREAN HYDRAULIC MACHINERY CO.,
LTD.(110111-1492191) 6B-28L, BANWOL INDUSTRIAL COMPLEX, 403-9,
MONGNAE-DONG, DANWON-GU, ANSAN-SI, GYEONGGI-DO, KOREA TEL:+82-31-498-9696 FAX:+82-31-498-4204 KCP HEAVY INDUSTRIES CO.,
LTD.(195111-0006158) 465-3, PASU-RI, HAMAN-MYEON, HAMAN-GUN,
GYEONGSANGNAM-DO, KOREA TEL:+82-55-585-6840~3 FAX:+82-55-585-6848 |
|
Affiliates |
|
|
Overseas Office |
EVERDIGM MEXICO PASEO DEL LA REFORMA 265, EDIFICIO AXTEL, PISO 2 COL. CUAUHTEMOC,
MEXICO D.F., C.P. 06500 |
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
|
|
Subsidiary |
HANWOO HEAVY EQUIPMENT(SHANGHAI) CO., LTD. (100.0% held by the subject company) EVERDIGM ROCK TOOLS CORP.(210111-0080243) (100.0% held by the subject company) HANKOOK TOWER CRANE CO., LTD.(154311-0031671) (100.0% held by the subject company) EVERDIGM HEAVY EQUIPMENT & MACHINERY TRADING(HEMT) LLC(UAE) (100.0% held by the subject company) PO BOX 282925, DUBAI, UAE EVERDIGM MONGOLIA LLC (100.0% held by the subject company) NARNII ZAM-14, BODI AUTOMOTIVE BUILDING 3RD FLOOR, SUKHBAATAR
DISTRICT, ULAANBAATAR, MONGOLIA TAIFOS CO., LTD.(161511-0087324) (100.0% held by the subject company) HANWOO MACHINERY CO., LTD-CHINA (100.0% held by the subject company) |
|
Corporate Ownership |
|
|
Major Shareholders |
|
|
Cooperative Enterprise |
-Insured Company SAMSUNG FIRE & MARINE INSURANCE CO., LTD.(110111-0005078) |
|
Sales/ Unit : KRW |
06/2015 |
2014 |
2013 |
|
Export |
79,907,047,711 |
151,339,380,159 |
156,553,114,589 |
|
Domestic |
69,061,923,122 |
140,272,689,299 |
114,197,677,364 |
|
Total |
148,968,970,833 |
291,612,069,458 |
270,750,791,953 |
The Subject exports
to Russia, Africa, and Middle East.
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
: |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.