|
Report No. : |
338329 |
|
Report Date : |
22.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
POSCO M-TECH CO., LTD. |
|
|
|
|
Registered Office : |
131, Hyeongsangangbuk-Ro, Nam-Gu, Pohang-Si, Gyeongsangbuk-Do, Korea 37835 |
|
|
|
|
Country : |
South
Korea |
|
|
|
|
Financials (as on) : |
30.06.2015 |
|
|
|
|
Date of Incorporation : |
27.12.1973 |
|
|
|
|
Com. Reg. No.: |
506-81-00055 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Other Basic Iron and Steel n. e. c. (Pellet, Ingot, Coil Master, Sealing Products, Packaging Service) |
|
|
|
|
No. of Employees : |
1,103 |
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 |
POSCO M-TECH CO., LTD. |
|
Registered Address |
131, Hyeongsangangbuk-ro, Nam-gu, Pohang-si,
Gyeongsangbuk-do, Korea |
|
Building |
|
|
Zip Code |
37835 |
|
Tel |
+82-54-280-8114 |
|
Fax |
+82-54-280-8301~3 |
|
E-mail |
webmaster@sjpna.co.kr;jws0424@sjpna.co.kr;wjh@sjpna.co.kr |
|
Website |
www.sjpna.co.kr |
|
Trading Address |
131, Hyeongsangangbuk-ro, Nam-gu,
Pohang-si, Gyeongsangbuk-do, Korea (Old Address System : 608, Hyoja-dong,
Nam-gu, Pohang-si, Gyeongsangbuk-do, Korea) |
|
Tel |
+82-54-280-8114 |
|
Fax |
+82-54-280-8301~3 |
|
Other Address-2nd Factory / Steel Materials Business |
431, Cheolgang-ro, Nam-gu, Pohang-si,
Gyeongsangbuk-do, Korea (Old Address System : 616, Ho-dong,
Nam-gu, Pohang-si, Gyeongsangbuk-do, Korea) |
|
Tel |
+82-54-288-8114 |
|
Fax |
+82-54-288-1130 |
|
Other Address-Gwangyang Office |
465, Hangman-daero, Gwangyang-si, Jeollanam-do, Korea (Old Address System : 1390,
Hwanggil-dong, Gwangyang-si, Jeollanam-do, Korea) |
|
Tel |
+82-61-798-5114 |
|
Fax |
+82-61-792-0198 |
|
Other Address-Seoul Office |
479, Gangnam-daero, Seocho-gu, Seoul, Korea (Old Address System : 748-4, Banpo
1-dong, Seocho-gu, Seoul, Korea) |
|
Tel |
+82-2-554-7785 |
|
Fax |
+82-2-554-7913 |
|
Other Address-Gangneung Factory |
104, Geumjinsolbat-gil, Okgye-myeon, Gangneung-si,
Gangwon-do, Korea |
|
Tel |
|
|
Fax |
|
|
Other Address-Hwaseong Factory |
757, Seobong-ro, Jeongnam-myeon,
Hwaseong-si, Gyeonggi-do, Korea |
|
Tel |
|
|
Fax |
|
|
Type |
Export |
|
Industry |
Manufacture of Other Basic Iron and Steel n. e. c. |
|
Main Business |
Pellet, Ingot, Coil Master, Sealing Products, Packaging Service |
|
|
|
|
Established (mm/dd/yyyy) |
12/27/1973 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Oxygen scavengers(12163802) |
|
Sell |
Packaging machinery(23152900) |
|
Sell |
Securing and protecting supplies(24141500) |
|
Sell |
Corner guards(30161504) |
|
Sell |
Seals(31181600) |
|
Buy |
Aluminum(11101705) |
|
Buy |
Iron(11101713) |
|
Name |
Lee Hee-Myung |
|
Address |
- |
|
Date of Birth |
03/06/1959 |
|
Title |
Vice President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
20,821,351,500 |
|||||||||||||||||||||
|
Employees |
1,103 |
|||||||||||||||||||||
|
Formation |
Listed Company (KOSDAQ : 009520) as of 11/10/1997 A Company of POSCO GROUP |
|||||||||||||||||||||
|
Bank Details |
Woori Bank-Pohang Branch Korea EXIM Bank |
|||||||||||||||||||||
|
Corporate Registered No. |
174611-0000866 |
|||||||||||||||||||||
|
Business Registered No. |
506-81-00055 |
|||||||||||||||||||||
|
Permit & Licenses |
12/22/1995 ISO 9002 10/31/2002 KS Mark Int’l Trade No.: 13047498 |
|||||||||||||||||||||
|
Shareholder Position |
|
|||||||||||||||||||||
|
Company History |
12/27/1973 Incorporated as SAMJUNG STEEL
CO., LTD. 03/2001 Changed company name to SAMJUNG PACKING
& ALUMINUM CO., LTD. 07/2005 Joined as an Affiliated Company of
POSCO GROUP 08/20/2010 Moved to the present HQ address
from 967,
Goedong-dong, Nam-gu, Pohang-si, Gyeongsangbuk-do, Korea 03/18/2011 Changed company name to the
present name 01/01/2013 Acquired 9 DIGIT CO.,
LTD.(110111-2084731) and LIKO METAL CO., LTD.(110111-1763237) 06/13/2014 Imposed of Additional Taxes Charged amounting
43,478,163,540KRW |
|||||||||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Date of Birth |
|
Vice President & CEO |
Mr. |
Lee Hee-Myung |
Male |
Korean |
1959.03.06 |
|
Auditor |
Mr. |
Park Chang-Soo |
Male |
Korean |
1956.05. |
|
Director |
Mr. |
Jung Ki-Sub |
Male |
Korean |
1961.10. |
|
Outside Director |
Mr. |
Jang Young-Won |
Male |
Korean |
1948.07. |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
183,244,828,335 |
196,722,843,725 |
1,673,504,530 |
|
|
(*)2014 |
432,236,013,966 |
223,697,475,405 |
-100,512,762,348 |
|
(*)2013 |
695,632,378,293 |
346,576,893,825 |
-10,648,876,452 |
|
(*)2012 |
618,316,162,216 |
340,876,750,010 |
14,737,277,528 |
|
(*)2011 |
602,154,803,665 |
316,952,932,640 |
12,447,431,399 |
|
2010 |
524,625,435,726 |
291,437,740,644 |
7,949,406,546 |
|
2009 |
303,349,675,495 |
165,140,974,072 |
3,933,499,164 |
|
2008 |
373,682,038,605 |
154,668,445,112 |
-10,030,648,754 |
|
2007 |
257,630,339,769 |
144,941,720,671 |
10,727,303,880 |
|
2006 |
226,423,716,934 |
129,853,032,659 |
9,444,421,405 |
|
2005 |
296,101,018,682 |
131,814,887,038 |
11,318,722,110 |
(*)Figures are based
on the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
35,000,000,000 |
|
Paid-Up Capital(KRW) |
20,821,351,500 |
|
Total Issues Shares |
41,642,703 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
01/01/2015~06/30/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Total Assets |
196,722,843,725 |
223,697,475,405 |
346,576,893,825 |
|
Current
Assets |
111,936,148,488 |
139,573,044,192 |
232,923,861,441 |
|
Cash & Cash Equivalents |
1,115,753,603 |
2,038,508,637 |
3,987,832,182 |
|
Trade Receivables |
32,477,366,516 |
48,729,087,081 |
97,287,048,136 |
|
Current Financial Instruments |
42,851,835,718 |
43,103,210,868 |
72,318,935,540 |
|
Inventories |
23,497,876,979 |
33,419,623,000 |
55,014,208,013 |
|
Other Current Assets |
615,920,271 |
778,747,141 |
4,315,837,570 |
|
Assets
to be Sold |
11,377,395,401 |
11,503,867,465 |
|
|
Non-Current
Assets |
84,786,695,237 |
84,124,431,213 |
113,653,032,384 |
|
Long-Term Trade Receivables |
893,894,478 |
|
|
|
Non-Current Financial Instruments |
40,409,166,061 |
37,474,917,291 |
39,431,976,229 |
|
Investment_Subsidiaries |
6,892,792,825 |
7,516,261,625 |
13,411,940,000 |
|
Tangibles |
17,936,321,325 |
19,152,706,535 |
46,011,778,297 |
|
Intangibles |
1,891,052,120 |
2,444,700,491 |
10,676,603,904 |
|
Deferred Income Tax Assets |
16,763,468,428 |
17,535,845,271 |
4,120,733,954 |
|
Total
Liabilities |
145,657,969,172 |
174,205,798,431 |
193,375,200,857 |
|
Current
Liabilities |
136,271,935,436 |
165,857,566,816 |
185,917,501,900 |
|
Trade Payables |
14,084,613,288 |
18,159,553,358 |
28,175,717,041 |
|
Short-Term Borrowings |
106,761,356,973 |
126,347,827,213 |
144,416,929,182 |
|
Other Current Financial Debts |
13,337,388,993 |
18,001,018,970 |
10,198,928,965 |
|
Deferred Income Tax Credit |
|
100,691,907 |
214,410,809 |
|
Provisions |
518,084,334 |
1,238,372,038 |
927,730,325 |
|
Other Current Liabilities |
1,570,491,848 |
1,790,103,330 |
1,983,785,578 |
|
Liabilities
to be Sold |
|
220,000,000 |
|
|
Non-Current
Liabilities |
9,386,033,736 |
8,348,231,615 |
7,457,698,957 |
|
Long-Term Borrowings |
1,478,500,000 |
1,583,700,000 |
4,262,100,000 |
|
Confirmed Salaries |
7,346,555,290 |
5,499,354,342 |
1,818,058,788 |
|
Other Non-Current Financial Debts |
560,978,446 |
1,265,177,273 |
1,377,540,169 |
|
Capital
Stock |
20,821,351,500 |
20,821,351,500 |
20,821,351,500 |
|
Capital Surplus |
28,670,406,467 |
68,242,165,942 |
68,242,165,942 |
|
Others |
-80,993 |
-80,993 |
-80,993 |
|
Profit Surplus |
1,573,197,579 |
-39,571,759,475 |
64,138,256,519 |
|
Total Equity |
51,064,874,553 |
49,491,676,974 |
153,201,692,968 |
|
Liab. & Shareholder’s Equity |
196,722,843,725 |
223,697,475,405 |
346,576,893,825 |
|
Income Statement |
|||
|
Unit : Korean Won |
01/01/2015~06/30/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Sales |
183,244,828,335 |
432,236,013,966 |
695,632,378,293 |
|
Cost of Sold Goods |
167,454,340,055 |
413,694,256,873 |
669,282,831,476 |
|
Gross Profit |
15,790,488,280 |
18,541,757,093 |
26,349,546,817 |
|
Selling & Admin. Expenses |
9,299,379,238 |
-35,678,490,711 |
-17,915,919,911 |
|
Operating Income |
6,491,109,042 |
-17,136,733,618 |
8,433,626,906 |
|
Finance Profits |
-1,659,160,271 |
-4,657,739,366 |
-3,495,221,902 |
|
Finance Income |
814,941,208 |
3,573,242,950 |
7,210,519,522 |
|
Finance Expenses |
-2,474,101,479 |
-8,230,982,316 |
-10,705,741,424 |
|
Non-Operating Profits |
-3,566,657,562 |
-23,232,675,520 |
389,955,497 |
|
Non-Operating Income |
470,643,013 |
892,206,872 |
4,595,865,034 |
|
Non-Operating Expenses |
-4,037,300,575 |
-24,124,882,392 |
-4,205,909,537 |
|
Income Before Taxes |
1,265,291,209 |
-45,027,148,504 |
5,328,360,501 |
|
Income Taxes Expenses |
505,725,651 |
-11,808,991,600 |
-3,082,238,637 |
|
Income from Continuous Business |
759,565,558 |
-33,218,156,904 |
8,410,599,138 |
|
Income from Stopped Business |
913,938,972 |
-67,294,605,444 |
-19,059,475,590 |
|
Net Income |
1,673,504,530 |
-100,512,762,348 |
-10,648,876,452 |
|
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 |
23,652,245,829 |
1,060,241,521 |
12,004,315,559 |
|
Cash Flows from Operating |
29,502,464,108 |
36,034,902,809 |
14,275,496,677 |
|
Net Income |
759,565,558 |
-33,218,156,904 |
8,410,599,138 |
|
Adjustment |
9,909,306,357 |
46,500,382,660 |
13,495,498,960 |
|
Changes in Asset/ & Liability |
18,833,592,193 |
22,752,677,053 |
-7,630,601,421 |
|
Interests Received |
458,139,621 |
5,212,390,177 |
1,104,002,734 |
|
Interests Paid |
-1,920,852,155 |
-5,655,982,829 |
-5,394,025,686 |
|
Dividends Received |
1,135,000 |
535,000 |
1,343,650 |
|
Income Taxes |
194,250,989 |
-2,069,381,424 |
-3,831,020,992 |
|
Cash Flows from Investing |
-4,760,892,606 |
18,919,799,364 |
4,030,383,554 |
|
Cash Flows from Financing |
-19,820,171,162 |
-21,930,061,654 |
-14,770,552,172 |
|
Increase/Decrease in Cash |
-928,817,939 |
-1,950,020,769 |
1,264,146,941 |
|
Cash at the Beginning of Year |
2,038,508,637 |
3,987,832,182 |
2,835,105,221 |
|
Cash at the End of Year |
1,115,753,603 |
2,038,508,637 |
3,987,832,182 |
|
Main Products & Services |
PACKAGING SERVICE Steel Product Packaging Service PACKAGING EQUIPMENT ORDER/SALES/DESIGN Coil Master Steel Packaging Line Engineering Equipment/facilities for packaging steel
-Dispenser
-Inner ring/outer ring
-Side molder etc PACKAGING MATERIAL SALES Seal Side protector(Steel) Inner ring/Outer ring Quenching AL, MO PRODUCT SALES Pellet Mini Pellet Ingot Jumbo Ingot Mo-Oxide Briquette Fe-Mo |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
POSCO(174611-0000741) AP METAL COMPANY LIMITED |
|
Competitors |
PJ METAL CO., LTD. 13TH FL., SAMAN BLDG., 945, DAECHI 2-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-555-4451 FAX:+82-2-558-5599 UWRAPCO CO., LTD. 15B-16, BANWOL INDUSTRIAL COMPLEX, 449,
MONGNAE-DONG, DANWON-GU, ANSAN-SI, GYEONGGI-DO, KOREA TEL:+82-31-492-6277~9 FAX:+82-31-492-6276 BARDIA PACK CO., LTD. 365-13, DAESSANGRYEONG-RI, CHOWOL-EUP,
GWANGJU-SI, GYEONGGI-DO, KOREA TEL:+82-31-767-0661 FAX:+82-31-767-0662 |
|
Affiliates |
POSCO(174611-0000741) POSCO COATED
& COLOR STEEL CO., LTD.(174611-0006492) POSCO
ENGINEERING & CONSTRUCTION CO., LTD.(174611-0002979) POSDATA CO.,
LTD.(110111-0658637) POSCO
REFRACTORIES & ENVIRONMENT CO., LTD.(174611-0001947) POSCO
CHEMTECH CO., LTD.(174611-0001947) POS-A.C.
CO., LTD.(174611-0003448) POSCO
ENGINEERING & CONSTRUCTION CO., LTD.(174611-0002979) POSCO
RESEARCH INSTITUTE(110111-1042350) POSTEEL(110111-0344591) POSCO
SPECIALTY STEEL CO., LTD. (194211-0025248) POSMEC(POSCO
MACHINERY & ENGINEERING CO., LTD.)(174611-0012176) POSCO TERMINAL
CO., LTD.(204611-0017575) POSTECH
VENTURE CAPITAL COOPERATION (174611-0029080) POSMATE CO.,
LTD.(110111-0739841) POSCO POWER
CORPORATION(110111-1829576) SNNC CO.,
LTD.(204611-0023415) PHP CO.,
LTD.(120111-0421545) POSBRO(110111-3528986) SUWON GREEN
ENVIRONMENT CORPORATION(134811-0133794) POSCORE CO.,
LTD.(134811-0003343) RIZTECH BIZ
CO., LTD. POSWITH CO.,
LTD.(171711-0075927) P&R CO.,
LTD. UITRANS CO.,
LTD.(110111-3792309) BASYS
INDUSTRY CO. LTD.(110111-0954647) UNIVERSAL
STUDIOS RESORT DEVELOPMENT CORPORATION(134811-0167222) METAPOLIS
CO., LTD.(134811-0094475) SEOUNG GWANG
CO., LTD.(120111-0222844) CHEONGNA IBT
CO., LTD.(120111-0454520) POHANG FEUL
CELL CO., LTD.(171711-0076256) MEGA
ASSET CO., LTD.(161511-0097480) DAEWOOENGINEERING
COMPANY CO., LTD.(110111-0203268) POS ECO HOUSING CO., LTD.(171711-0085893) DAKOS CO., LTD.(131111-0246297) MAPO HYBROAD PARKING CO.,
LTD.(110111-4250140) GWANGYANG FSC CO., LTD.(204611-0031385) POSPLATE CO., LTD.(204611-0031252) POS CALCIUM CO., LTD.(171711-0086180) POS-MINERALS CORPORATION (15.0% held by the subject company) |
|
Overseas Office |
|
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
|
|
Subsidiary |
PT. POSCO MTECH INDONESIA (60.00% held by the subject company) |
|
Corporate Ownership |
POSCO(174611-0000741) |
|
Major Shareholders |
POSCO(174611-0000741) |
|
Cooperative Enterprise |
-Technical
support for Coil Master License from K.C METAL
PRODUCTS PTY.(AUSTRALIA) -Insured
Company SAMSUNG FIRE & MARINE INSURANCE CO., LTD.(110111-0005078) |
|
Sales/ Unit : KRW |
2010 |
2009 |
2008 |
|
Export |
126,333,103,154 |
61,692,014,541 |
98,919,070,823 |
|
Domestic |
398,292,332,572 |
241,657,660,954 |
274,762,967,782 |
|
Total |
524,625,435,726 |
303,349,675,495 |
373,682,038,605 |
The Subject deals
with the companies in Australia.
There are 3 cases
filed as Defendant(s)/ Debtor(s)/ Respondent(s) amounting 1,072,746,000 KRW, and 9
cases filed as Plaintiff(s)/ Creditor(s)/ Applicant(s) as of 06/30/2015.
-----------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.83 |
|
|
1 |
Rs.103.39 |
|
Euro |
1 |
Rs.74.27 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.