|
Report No. : |
355393 |
|
Report Date : |
16.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
BAIKSAN OPC CO.,
LTD. |
|
|
|
|
Registered Office : |
681, Ideok-Ro, Deoksan-Myeon, Jincheon-Gun, Chungcheongbuk-Do, Korea |
|
|
|
|
Country : |
South
Korea |
|
|
|
|
Financials (as on) : |
30.09.2015 |
|
|
|
|
Date of Incorporation : |
16.02.1994 |
|
|
|
|
Com. Reg. No.: |
301-81-20927 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Other Peripheral Apparatuses. (Laser Beam Printer OPC Drum, Laser Beam Printer Gear) |
|
|
|
|
No. of Employees : |
93 |
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 |
BAIKSAN OPC CO.,
LTD. |
|
Registered Address |
681, Ideok-ro, Deoksan-myeon, Jincheon-gun, Chungcheongbuk-do, Korea (Previous
Address: 282 Yongmong - Ri, Duksan Mum, Ji Kor Chungchongbuk Do, Korea South) |
|
Building |
|
|
Zip Code |
27856 |
|
Tel |
+82-43-536-7561~4 |
|
Fax |
+82-43-536-7557 |
|
E-mail |
hanp98@kornet.net |
|
Website |
www.baiksanopc.com |
|
Trading Address |
681, Ideok-ro, Deoksan-myeon, Jincheon-gun, Chungcheongbuk-do, Korea (Old Address System : 321, Hapmok-ri,
Deoksan-myeon, Jincheon-gun, Chungcheongbuk-do, Korea) |
|
Tel |
+82-43-530-7687 |
|
Fax |
+82-43-537-2231 |
|
Other Address |
|
|
Tel |
|
|
Fax |
|
|
Type |
Export/Import |
|
Industry |
Manufacture of Other Peripheral Apparatuses |
|
Main Business |
Laser Beam Printer OPC Drum, Laser Beam Printer Gear |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
02/16/1994 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Printer or facsimile or photocopier
drums(44103109) |
|
Sell |
Packaging tubes and cores and labels and
accessories(24141700) |
|
Buy |
Printer and facsimile and photocopier
supplies(44103100) |
|
Buy |
Photographic processing chemicals(45141500) |
|
Buy |
Packaging boxes(24121503) |
|
Buy |
General purpose cleaners(47131805) |
|
Buy |
Aluminum plate(30102206) |
|
Buy |
Packaging films(24141514) |
|
Buy |
Gears(31171700) |
|
Name |
Kim Choon-Soo |
|
Address |
Suite 201, 12, Samhaksa-ro 3-gil,
Songpa-gu, Seoul, Korea |
|
Date of Birth |
02/17/1957 |
|
Title |
President & CEO |
|
Nationality |
Korean |
|
Capital (KRW) |
12,908,567,000 |
||||||||||||||||||||||||
|
Employees |
93 |
||||||||||||||||||||||||
|
Formation |
Listed Company (KOSDAQ : 066110 ) as of 07/12/2002 A Company of BAIKSAN CO.,LTD.(114711-0003729) |
||||||||||||||||||||||||
|
Bank Details |
Shinhan Bank-Seogyo Dong Corporate Finance
Branch |
||||||||||||||||||||||||
|
Corporate Registered No. |
110111-1011561 |
||||||||||||||||||||||||
|
Business Registered No. |
301-81-20927 |
||||||||||||||||||||||||
|
Permit & Licenses |
11/2001 ISO 9001 07/2002 ISO 14001 Int’l Trade No.: 11203223 |
||||||||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||||||||
|
Company History |
02/16/1994 Incorporated as Han Precision
Industry Co., Ltd. 07/1996 Changed company name to Baiksan Han
Precision Co., Ltd. 05/2000 Designated as a Venture Business 02/2002 Changed company name to the present
name 09/04/2008 Designated as a Venture Business
again 11/2010 Awarded US$ 50 Million Export Top
Prize 06/18/2013 Designated Dishonesty Disclosure
Company due to delayed disclosure on Court Action and Application 03/27/2015 Increased the authorized shares
to 50,000,000 shares from 30,000,000 shares 06/29/2015 Decided to stop the Tonner
Manufacturing Business 06/03/2015 Increased capital to
12,908,567,000 KRW from 7,650,000,000 KRW 10/23/2015
Moved to the present HQ address from 45-10, Yongsomal-gil, Deoksan-myeon, Jincheon-gun,
Chungcheongbuk-do, Korea (Old Address System : 282, Yongmong-ri,
Deoksan-myeon, Jincheon-gun, Chungcheongbuk-do, Korea) |
||||||||||||||||||||||||
|
|
|
|
Job Description |
Name |
Nationality |
Date of Birth |
Inauguration Date |
|
President & CEO |
Kim Choon-Soo |
Korean |
02/17/1957 |
06/16/2015 |
|
Director |
Kim Dong-Won |
Korean |
05/03/1967 |
06/16/2015 |
|
Outside Director |
Song Jae-Soon |
Korean |
06/21/1974 |
06/16/2015 |
|
Auditor |
Jung Dong-Won |
Korean |
05/17/1968 |
06/16/2015 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
17,617,738,292 |
51,254,983,192 |
9,339,752,466 |
|
|
(*)2014 |
29,402,081,310 |
56,779,223,879 |
-11,384,840,068 |
|
(*)2013 |
43,093,574,308 |
64,623,500,597 |
-26,954,368,217 |
|
(*)2012 |
51,981,855,612 |
78,347,330,803 |
-2,125,311,894 |
|
2011 |
53,129,426,064 |
78,340,934,858 |
-4,138,042,597 |
|
2010 |
63,002,198,166 |
71,801,818,876 |
5,279,959,586 |
|
2009 |
68,572,960,247 |
66,219,417,150 |
7,169,897,798 |
|
2008 |
51,649,478,123 |
72,844,293,273 |
-14,088,024,813 |
(*)Figures are based
on the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
25,000,000,000 |
|
Paid-Up Capital(KRW) |
12,908,567,000 |
|
Total Issues Shares |
25,817,134 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
01/01/2015~09/30/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Total
Assets |
51,254,983,192 |
56,779,223,879 |
64,623,500,597 |
|
Current Assets |
24,282,240,034 |
19,771,591,973 |
26,502,153,619 |
|
Cash
& Cash Equivalents |
163,633,996 |
240,364,663 |
250,786,801 |
|
Trade
Receivables & Other Receivables |
13,356,741,143 |
12,779,607,946 |
16,352,395,057 |
|
Inventories |
6,522,624,552 |
6,482,689,748 |
9,635,053,931 |
|
Current
Financial Instruments |
14,396,038 |
59,838,376 |
59,838,376 |
|
Current
Non-Financial Instruments |
267,744,545 |
198,994,270 |
203,953,854 |
|
Deferred
Income Tax Assets |
11,040 |
10,096,970 |
125,600 |
|
Assets to be Sold |
3,957,088,720 |
|
|
|
Non-Current Assets |
26,972,743,158 |
37,007,631,906 |
38,121,346,978 |
|
Long-Term
Trade Receivables & Other Receivables |
|
|
63,862,448 |
|
Investment_Related
Companies |
900,199,765 |
|
|
|
Tangibles |
25,356,682,847 |
36,062,178,126 |
36,606,921,841 |
|
Intangibles |
714,356,546 |
930,828,780 |
1,213,562,689 |
|
Non-Current
Financial Instruments |
|
13,121,000 |
237,000,000 |
|
Non-Current
Non-Financial Instruments |
1,504,000 |
1,504,000 |
|
|
Total Liabilities |
21,987,770,358 |
52,765,749,195 |
52,535,828,291 |
|
Current Liabilities |
18,381,938,715 |
50,606,215,583 |
49,427,327,948 |
|
Trade
Payables & Other Payables |
2,295,059,941 |
3,100,903,088 |
3,953,516,889 |
|
Short-Term
Borrowings |
14,235,230,601 |
25,820,398,525 |
25,979,944,389 |
|
Current
Portion of Long-Term Debts |
|
1,500,000,000 |
2,187,500,000 |
|
Other
Current Financial Debts |
|
|
96,099,071 |
|
Other
Current Non-Financial Debts |
166,982,413 |
138,808,977 |
64,305,074 |
|
Other
Current Provisions |
|
20,046,104,993 |
17,145,962,525 |
|
Convertible Bonds |
1,684,665,760 |
|
|
|
Non-Current Liabilities |
3,605,831,643 |
2,159,533,612 |
3,108,500,343 |
|
Long-Term
Borrowings |
|
|
1,500,000,000 |
|
Provision
for Severance & Retirement |
1,047,640,007 |
1,226,449,485 |
1,608,500,343 |
|
Deferred
Income Tax Credit |
933,084,127 |
933,084,127 |
|
|
Other
Non-Current Non-Financial Debts |
1,625,107,509 |
|
|
|
Capital Stock |
12,908,567,000 |
7,650,000,000 |
7,650,000,000 |
|
Capital
Surplus |
21,929,250,870 |
11,273,832,186 |
11,273,832,186 |
|
Profit
Surplus |
-8,878,812,397 |
-18,218,564,863 |
-6,836,159,880 |
|
Others |
3,308,207,361 |
3,308,207,361 |
|
|
Total
Equity |
29,267,212,834 |
4,013,474,684 |
12,087,672,306 |
|
Liab.
& Shareholder’s Equity |
51,254,983,192 |
56,779,223,879 |
64,623,500,597 |
|
Income Statement |
|||
|
Unit : Korean Won |
01/01/2015~09/30/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Sales |
17,617,738,292 |
29,402,081,310 |
43,093,574,308 |
|
Cost of Sold Goods |
14,718,530,328 |
30,931,167,143 |
44,252,922,426 |
|
Gross Profit |
2,899,207,964 |
-1,529,085,833 |
-1,159,348,118 |
|
Selling & Admin. Expenses |
2,111,572,136 |
5,717,052,976 |
5,229,043,080 |
|
Operating Income |
787,635,828 |
-7,246,138,809 |
-6,388,391,198 |
|
Other Income |
15,955,400,469 |
1,270,146,607 |
1,594,825,146 |
|
Other Expenses |
1,149,947,844 |
4,269,199,469 |
21,016,406,084 |
|
Finance Income |
236,998,356 |
712,393,120 |
2,643,210,162 |
|
Finance Expenses |
1,616,216,190 |
1,852,041,517 |
1,357,716,872 |
|
Income Before Taxes |
14,213,870,619 |
-11,384,840,068 |
-24,524,478,846 |
|
Income Taxes Expenses |
-173,576,209 |
|
2,429,889,371 |
|
Income from Continuous Business |
14,387,446,828 |
-11,384,840,068 |
-26,954,368,217 |
|
Income from Stopped Business |
-5,047,694,362 |
|
|
|
Net Income |
9,339,752,466 |
-11,384,840,068 |
-26,954,368,217 |
|
Cash Flows |
|||
|
Unit : Korean Won |
01/01/2015~09/30/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Operating Activities Cash Flows |
-3,788,192,496 |
1,801,317,355 |
1,404,468,796 |
|
Net
Income |
9,339,752,466 |
-11,384,840,068 |
-26,954,368,217 |
|
Adjustment |
-12,305,674,906 |
14,576,996,453 |
29,468,184,072 |
|
Interests
Received |
105,862 |
72,144,304 |
920,784 |
|
Interests
Paid |
-832,461,848 |
-1,462,983,334 |
-1,110,267,843 |
|
Income Taxes |
10,085,930 |
|
|
|
Cash Flows from Investing |
-537,613,469 |
167,804,814 |
-1,385,466,012 |
|
Cash Flows from Financing |
4,248,148,050 |
-1,982,265,953 |
-393,872,264 |
|
Increase/Decrease in Cash |
-76,730,667 |
-10,422,138 |
-375,022,273 |
|
Cash at the Beginning of Year |
240,364,663 |
250,786,801 |
625,809,074 |
|
Cash at the End of Year |
163,633,996 |
240,364,663 |
250,786,801 |
|
Main Products & Services |
Laser Beam Printer OPC Drum, Laser Beam Printer Gear Brand Name : HANP, CYBEN |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
BAIKSAN OPC INC(USA) BAIKSAN OPC GMBH(GERMANY) BEIJING LASER HI TECHNOLOGY CO., LTD |
|
Competitors |
SAMSUNG SDS CO., LTD. ILOK BLDG., 707-19, YEOKSAM 2-DONG,
GANGNAM-GU, SEOUL, KOREA TEL:+82-2-3429-2114 FAX:+82-2-3429-2100 KOREA ELECTRIC POWER DATA NETWORK CO., LTD. 1355, SEOCHO 2-DONG, SEOCHO-GU, SEOUL,
KOREA TEL:+82-2-6262-6114 FAX:+82-2-6262-6179 DREAMINTEK CO., LTD. USEONG BLDG., 333, CHANGJEON-DONG, MAPO-GU,
SEOUL, KOREA TEL:+82-2-3141-7575 FAX:+82-2-3141-8205 |
|
Affiliates |
BAIKSAN CO.,LTD.(114711-0003729) HANJUNG NETWORKS. CO., LTD.(191311-0025182) TEXCELL-NETCOM CO., LTD.(120111-0050104) HANJOONG INTERNATIONAL CORPORATION(180111-0972348) TX NET CO., LTD.(110111-3525370) SEJONG MUTUAL SAVINGS BANK CO.,LTD.(164411-0000185) HANJOONG SHIP MACHINERY CO,.LTD.(194511-0007216) T&SYSTEMS CO., LTD.(110111-5502532) |
|
Overseas Office |
|
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
|
|
Subsidiary |
BAIKSAN OPC INC(USA) (100.0% held by the subject company) BAIKSAN OPC GMBH(GERMANY) (100.0% held by the subject company) |
|
Corporate Ownership |
TEXCELL-NETCOM CO., LTD.(120111-0050104) |
|
Major Shareholders |
|
|
Cooperative Enterprise |
-Insured Company KB INSURANCE CO., LTD.(110111-0017859) |
|
Sales/ Unit :Thousand KRW |
2010 |
2009 |
2008 |
|
Export |
14,039,939 |
59,422,624 |
|
|
Domestic |
803,751 |
3,505,017 |
|
|
Others |
9,026 |
74,557 |
|
|
Total |
14,852,716 |
63,002,198 |
|
The Subject deals
with the companies in Germany, UK and America.
|
Case No. |
Court |
Plaintiff(s)/
Creditor(s)/ Applicant(s) |
Defendant(s)/
Debtor(s)/ Respondent(s) |
Cause |
Amount (KRW) |
Status |
|
|
Supreme Court of Korea |
The Subject Company |
Cannon |
Nullifying of Patent Infringement |
14,500,712,000 |
Finished as Reconciliation as of 04/14/2015 |
-------------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.67.04 |
|
|
1 |
Rs.101.67 |
|
Euro |
1 |
Rs.73.93 |
|
KRW |
1 |
Rs.0.057 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
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.