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Report No. : |
339192 |
|
Report Date : |
28.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
SHINSEGAE L&B CO., LTD. |
|
|
|
|
Registered Office : |
2, Namdaemunsijang 10-gil, Jung-gu, Seoul,
Korea, 04529, 16FL, Mesa Bldg. |
|
|
|
|
Country : |
South
Korea |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
18.12.2008 |
|
|
|
|
Com. Reg. No.: |
104-86-18747 |
|
|
|
|
Legal Form : |
Co., Ltd By Shares |
|
|
|
|
Line of Business : |
Wholesale of Alcoholic Beverages |
|
|
|
|
No. of Employees : |
174 |
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 |
SHINSEGAE L&B CO., LTD. (Ex. Company Name : SHINSEGAE WINE CO.,
LTD.) (Korean Company Name : “(주)신세계엘앤비”) |
|
Registered Address |
2, Namdaemunsijang 10-gil, Jung-gu, Seoul,
Korea |
|
Building |
16FL, Mesa Bldg. |
|
Zip Code |
04529 |
|
Tel |
+82-2-727-1685 |
|
Fax |
+82-2-727-1979 |
|
E-mail |
|
|
Website |
|
|
Trading Address |
16FL, Mesa Bldg., 2, Namdaemunsijang 10-gil,
Jung-gu, Seoul, Korea (Old Address System : 16FL, Mesa Bldg.,
204, Hoehyeondong 1-ga, Jung-gu, Seoul, Korea) |
|
Tel |
+82-2-727-1972 |
|
Fax |
+82-2-727-1979 |
|
Other Address |
|
|
Tel |
|
|
Fax |
|
|
Type |
Import |
|
Industry |
Wholesale of Alcoholic Beverages |
|
Main Business |
Wine |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
12/18/2008 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Alcoholic beverages(50202200) |
|
Sell |
Spirits or liquors(50202206) |
|
Sell |
Wine(50202203) |
|
Name |
Kim Woon-A |
|
Address |
Suite 502-1605, 76, Donggureung-ro
85beon-gil, Guri-si, Gyeonggi-do, Korea |
|
Date of Birth |
03/21/1964 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
12,000,000,000 |
|||||||||
|
Employees |
174 |
|||||||||
|
Formation |
Co., Ltd by shares A Company of SHINSEGAE GROUP |
|||||||||
|
Bank Details |
Hana Bank |
|||||||||
|
Corporate Registered No. |
110111-4015338 |
|||||||||
|
Business Registered No. |
104-86-18747 |
|||||||||
|
Permit & Licenses |
N/A |
|||||||||
|
Shareholder Position |
|
|||||||||
|
Company History |
12/18/2008 Incorporated as SHINSEGAE WINE
CO., LTD. 02/04/2009 Increased the authorized shares to 2,000,000 shares from
400,000 shares 02/05/2009 Increased capital to 6,000,000,000 KRW from 500,000,000 KRW 03/20/2009 Changed company name to the present name 02/06/2014 Moved to the present HQ address from Rm. 1401, Mesa Bldg.,
204, Hoehyeondong 1-ga, Jung-gu, Seoul, Korea 03/14/2014 Increased the authorized shares to 9,000,000 shares from
2,000,000 shares 08/08/2014 Increased capital to 12,000,000,000 KRW from 6,000,000,000
KRW |
|||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Kim Woon-A |
Male |
Korean |
03/15/2013 |
|
Director |
Mr. |
Kang Young-Tae |
Male |
Korean |
12/31/2011 |
|
Director |
Mr. |
Kim Nak-Ho |
Male |
Korean |
12/31/2011 |
|
Auditor |
Mr. |
Jeon Sang-Jin |
Male |
Korean |
03/15/2013 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
(*)2014 |
34,615,703,471 |
15,382,019,927 |
303,227,422 |
|
(*)2013 |
26,534,821,742 |
12,145,897,780 |
-183,002,605 |
|
2012 |
19,610,000,000 |
8,540,000,000 |
-774,000,000 |
|
2011 |
14,301,000,000 |
6,613,000,000 |
-1,420,000,000 |
|
2010 |
11,029,000,000 |
6,439,000,000 |
181,000,000 |
(*)Figures are based
on the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
45,000,000,000 |
|
Paid-Up Capital(KRW) |
12,000,000,000 |
|
Total Issued Shares |
2,400,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
|
|
Total
Assets |
15,382,019,927 |
12,145,897,780 |
|
|
Current Assets |
14,924,845,312 |
11,913,558,984 |
|
|
Cash
& Cash Equivalents |
187,159,610 |
34,254,971 |
|
|
Trade
Receivables & Other Receivables |
2,228,600,126 |
2,033,366,449 |
|
|
Inventories |
9,259,564,274 |
7,191,870,788 |
|
|
Other
Current Assets |
3,249,521,302 |
2,654,066,776 |
|
|
Non-Current Assets |
457,174,615 |
232,338,796 |
|
|
Tangibles |
176,602,465 |
34,904,409 |
|
|
Intangibles |
94,931,690 |
98,774,797 |
|
|
Non-Current
Financial Instruments |
185,640,460 |
98,659,590 |
|
|
Total Liabilities |
7,464,303,096 |
10,553,626,446 |
|
|
Current Liabilities |
5,738,510,247 |
9,223,327,864 |
|
|
Trade
Payables & Other Payables |
5,722,784,692 |
3,758,738,839 |
|
|
Short-Term
Borrowings |
- |
5,450,000,000 |
|
|
Other
Current Financial Debts |
15,725,555 |
14,589,025 |
|
|
Non-Current Liabilities |
1,725,792,849 |
1,330,298,582 |
|
|
Confirmed
Salaries |
1,657,928,429 |
1,330,298,582 |
|
|
Other
Non-Current Liabilities |
67,864,420 |
- |
|
|
Capital Stock |
12,000,000,000 |
6,000,000,000 |
|
|
Capital
Surplus |
-120,138,000 |
-89,566,000 |
|
|
Profit
Surplus |
-3,962,145,169 |
-4,318,162,666 |
|
|
Total
Equity |
7,917,716,831 |
1,592,271,334 |
|
|
Liab.
& Shareholder’s Equity |
15,382,019,927 |
12,145,897,780 |
|
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
|
|
Sales |
34,615,703,471 |
26,534,821,742 |
|
|
Cost
of Sold Goods |
20,311,239,334 |
15,531,073,287 |
|
|
Gross
Profit |
14,304,464,137 |
11,003,748,455 |
|
|
Selling
& Admin. Expenses |
14,003,788,531 |
10,997,133,229 |
|
|
Operating
Income |
300,675,606 |
6,615,226 |
|
|
Other
Income |
292,558,672 |
189,680,658 |
|
|
Other
Expenses |
58,794,633 |
37,674,869 |
|
|
Finance
Income |
118,109,639 |
71,360,769 |
|
|
Finance
Expenses |
349,321,862 |
412,984,389 |
|
|
Income
Before Taxes |
303,227,422 |
-183,002,605 |
|
|
Income
Taxes Expenses |
- |
- |
|
|
Net
Income |
303,227,422 |
-183,002,605 |
|
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
|
|
Operating Activities Cash Flows |
-69,919,391 |
-3,095,545,263 |
|
|
Cash
Flows from Operating |
213,593,098 |
-2,800,037,475 |
|
|
Interests
Paid |
-283,658,526 |
-295,639,035 |
|
|
Interests
Received |
146,037 |
131,247 |
|
|
Cash
Flows from Investing |
-296,603,970 |
-72,832,349 |
|
|
Cash
Flows from Financing |
519,428,000 |
3,180,000,000 |
|
|
Increase/Decrease
in Cash |
152,904,639 |
11,622,388 |
|
|
Cash
at the Beginning of Year |
34,254,971 |
22,632,583 |
|
|
Cash
at the End of Year |
187,159,610 |
34,254,971 |
|
|
Main Products & Services |
Wine |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
SHINSEGAE CO.,
LTD.(110111-0028848) THE WESTIN CHOSUN
SEOUL(110111-0003999) E-MART INC.(110111-4594952) |
|
Competitors |
TWIN WINE CO., LTD. GOMAS BLDG., 123, HANNAM-DONG, YONGSAN-GU,
SEOUL, KOREA TEL:+82-2-3773-5137 FAX:+82-2-3773-5836 LOTTE-ASAHI LIQUOR CO.,
LTD.(110111-0530033) 11FL., DAEKAK BLDG., 1322-1, SEOCHO 2-DONG,
SEOCHO-GU, SEOUL, KOREA TEL:+82-2-525-6263 FAX:+82-2-525-6454 DONGWON WINEPLUS CO., LTD.(131111-0090371) 4TH FL., DONGWON INDUSTRIES CO. BLDG., 275,
YANGJAE 2-DONG, SEOCHO-GU, SEOUL, KOREA TEL:+82-2-589-3354 FAX:+82-2-589-3234 LES VINS DE MAEIL CO., LTD.(131111-0068980) 6FL., SAMHWAN BLDG., 98-5, UNNI-DONG,
JONGNO-GU, SEOUL, KOREA TEL:+82-2-2127-9864 FAX:+82-2-3675-6296 NARA FOOD CO., LTD.(110111-1407182) 62, MUNJEONG 1-DONG, SONGPA-GU, SEOUL,
KOREA TEL:+82-2-405-4300 FAX:+82-2-405-4302 SHINDONG WINE CO., LTD.(110111-0744072) 2ND FL., SINDONG BLDG., 726-164,
HANNAM-DONG, YONGSAN-GU, SEOUL, KOREA TEL:+82-2-794-4531 FAX:+82-2-794-4674 |
|
Affiliates |
SHINSEGAE CO., LTD.(110111-0028848) E-MART INC.(110111-4594952) SHINSEGAE UIJEONGBU STATION DEVELOPMENT CO., LTD.(110111-2670548) SHINSEGAE SVN CO., LTD.(161511-0069091) SHINSEGAE SIMON INC.(110111-3239228) HANAM UNION SQUARE CO., LTD.(135711-0074452) SHINSEGAE TOMBOY CO., LTD.(110111-0219497) TOMBOY PLUS CO,. LTD.(110111-4682830) CENTRAL CITY CO., LTD.(110111-0087612) CENTRAL TOURIST DEVELOPMENT CO., LTD.( 110111-0652150) CENTRAL CONSTRUCTION CO., LTD.(110111-1306607) SHINSEGAE INVESTMENT DEVELOPMENT CO., LTD.(110111-5027671) SEOUL EXPRESS BUS TERMINAL CO., LTD.(110111-0187644) VIDI VICI COSMETIC CO., LTD.(110111-2759889) SHINSEGAE DONGDAEGU CTC CO., LTD.(170111-0459570) EVERYDAY RETAIL CO., LTD.(110111-0167498) SM CO., LTD.(115611-0015973) SHINSEGAE RESORT CO., LTD.(141311-0010513) SHINSEGAE PAYMENTS CO., LTD.(110111-5209196) SHINSEGAE PROPERTY INC.(110111-5284198) WITHME FS CO., LTD.(110111-3419515) |
|
Corporate Ownership |
|
|
Major Shareholders |
E-MART INC.(110111-4594952) |
|
Cooperative Enterprise |
|
The Subject imports
from Australia, New Zealand, South Africa, Belgium, Chile and France.
No.
-------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.06 |
|
|
1 |
Rs.102.35 |
|
Euro |
1 |
Rs.74.97 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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.