|
Report No. : |
355733 |
|
Report Date : |
18.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
SD CORPORATION |
|
|
|
|
Registered Office : |
28, Noksansandan 381-Ro, Gangseo-Gu, Busan, Korea 46755 |
|
|
|
|
Country : |
South
Korea |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
18.06.1998 |
|
|
|
|
Com. Reg. No.: |
620-81-17361 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Wholesale of Wood and Builders' Joinery Wood |
|
|
|
|
No. of Employees : |
59 |
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 |
SD CORPORATION |
|
Registered Address |
28, Noksansandan 381-ro, Gangseo-gu,
Busan, Korea |
|
Building |
|
|
Zip Code |
46755 |
|
Tel |
+82-51-831-9100 |
|
Fax |
+82-51-831-0032 |
|
E-mail |
sdcorp21@naver.com |
|
Website |
www.sdhome.co.kr |
|
Trading Address |
28, Noksansandan 381-ro, Gangseo-gu,
Busan, Korea (Old Address System : 1650-5,
Songjeong-dong, Gangseo-gu, Busan, Korea) |
|
Tel |
+82-51-831-9100 |
|
Fax |
+82-51-831-0032 |
|
Other Address-Branch |
6-22, Hwanggeum-ro, Yangchon-eup,
Gimpo-si, Gyeonggi-do, Korea (Old Address System : 114-4, Daepo-ri,
Yangchon-eup, Gimpo-si, Gyeonggi-do, Korea) |
|
Tel |
|
|
Fax |
|
|
Type |
Import |
|
Industry |
Wholesale of Wood and Builders' Joinery Wood |
|
Main
Business |
Lumber, Wood Products, Construction Materials |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
06/18/1998 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Plywood(11121609) |
|
Sell |
Wood(11121600) |
|
Name |
Wang Min |
|
Address |
Suite 605-1502, 166, Geumgok-daero, Buk-gu,
Busan, Korea |
|
Date of Birth |
08/20/1968 |
|
Title |
President & CEO |
|
Nationality |
Korean |
|
Capital (KRW) |
250,000,000 |
||||||||||||
|
Employees |
59 |
||||||||||||
|
Formation |
Co., Ltd by Shares Venture Business |
||||||||||||
|
Bank Details |
Gyungnam Bank Kookmin Bank-Sasang Corporate Finance
Branch Industrial Bank of Korea Busan Bank KEB Hana Bank |
||||||||||||
|
Corporate Registered No. |
230111-0050630 |
||||||||||||
|
Business Registered No. |
620-81-17361 |
||||||||||||
|
Permit & Licenses |
Int’l Trade No.: 17000750 |
||||||||||||
|
Shareholder Position |
|
||||||||||||
|
Company History |
06/18/1998 Incorporated as SD CO., LTD. 09/2001 Changed company name to the present
name 12/24/2003 Increased capital to 250,000,000
KRW from 200,000,000 KRW 03/09/2008 Moved to the present HQ address
from 642, Eomgung-dong, Sasang-gu, Busan, Korea 04/21/2011 Designated as a Venture Business |
||||||||||||
|
|
|
|
Job Description |
Name |
Nationality |
Date of Birth |
Inauguration Date |
|
President & CEO |
Wang Min |
Korean |
08/20/1968 |
08/22/2003 |
|
Director |
Jin Hyung-Wan |
Korean |
01/17/1970 |
04/01/2014 |
|
Auditor |
Ko Kwon-Jin |
Korean |
09/27/1979 |
03/28/2011 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
56,287,615,776 |
32,811,024,509 |
2,833,874,348 |
|
|
2013 |
47,902,446,931 |
34,668,848,725 |
3,484,912,058 |
|
2012 |
36,073,532,627 |
26,597,036,850 |
3,112,409,826 |
|
2011 |
30,868,438,523 |
17,922,777,324 |
1,845,441,202 |
|
2010 |
33,824,115,805 |
13,727,830,303 |
1,677,217,386 |
|
2009 |
23,220,990,360 |
13,243,685,965 |
976,529,061 |
|
2008 |
22,527,125,382 |
11,749,890,290 |
-1,091,053,146 |
|
Authorized Capital(KRW) |
800,000,000 |
|
Paid-Up Capital(KRW) |
250,000,000 |
|
Total Issued Shares |
25,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total Assets |
32,811,024,509 |
34,668,848,725 |
26,597,036,850 |
|
Current Assets |
21,625,859,837 |
23,607,495,787 |
15,870,765,036 |
|
-Quick Assets |
10,953,849,826 |
10,119,020,605 |
8,956,784,955 |
|
-Inventories |
10,672,010,011 |
13,488,475,182 |
6,913,980,081 |
|
Fixed Assets |
11,185,164,672 |
11,061,352,938 |
10,726,271,814 |
|
-Investment |
293,469,730 |
611,284,418 |
598,562,765 |
|
-Tangibles |
9,962,824,343 |
10,025,674,076 |
9,744,877,139 |
|
-Intangibles |
19,546,134 |
16,427,534 |
2,400,000 |
|
-Others |
909,324,465 |
407,966,910 |
380,431,910 |
|
Total Liabilities |
17,323,351,408 |
22,014,236,841 |
17,427,247,709 |
|
Current Liabilities |
14,911,214,516 |
17,430,903,870 |
12,667,356,314 |
|
Fixed Liabilities |
2,412,136,892 |
4,583,332,971 |
4,759,891,395 |
|
Capital Stock |
250,000,000 |
250,000,000 |
250,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
15,239,601,921 |
12,405,727,573 |
8,920,815,515 |
|
Capital Adjustment |
-1,928,820 |
-1,115,689 |
-1,026,374 |
|
Total Equity |
15,487,673,101 |
12,654,611,884 |
9,169,789,141 |
|
Liab. & Shareholder’s Equity |
32,811,024,509 |
34,668,848,725 |
26,597,036,850 |
|
Current Liabilities |
14,911,214,516 |
17,430,903,870 |
12,667,356,314 |
|
Trade Payables |
711,791,879 |
937,388,482 |
107,330,903 |
|
Short-Term Borrowings |
13,053,330,913 |
15,461,191,117 |
11,352,456,634 |
|
Current Portion of Long-Term Debts |
83,330,000 |
24,999,000 |
170,996,000 |
|
Account Payables |
426,503,778 |
413,612,496 |
342,861,338 |
|
Advance Receipts |
18,506,715 |
31,928,066 |
77,840,496 |
|
Withholdings |
38,980,380 |
38,423,050 |
19,838,360 |
|
VAT Withhold |
227,991,958 |
94,439,623 |
33,536,320 |
|
Accrued Income Tax |
339,749,469 |
358,824,749 |
550,860,889 |
|
Accrued Expenses |
11,029,424 |
70,097,287 |
11,635,374 |
|
Fixed Liabilities |
2,412,136,892 |
4,583,332,971 |
4,759,891,395 |
|
Long-Term Borrowings |
2,100,000,000 |
4,410,000,000 |
4,454,999,000 |
|
Provision for Severance & Retirement |
207,136,892 |
123,332,971 |
104,892,395 |
|
Provision for Mileage |
105,000,000 |
50,000,000 |
200,000,000 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
56,287,615,776 |
47,902,446,931 |
36,073,532,627 |
|
Cost of Sold Goods |
48,405,410,104 |
40,301,565,639 |
30,099,861,834 |
|
Gross Profit |
7,882,205,672 |
7,600,881,292 |
5,973,670,793 |
|
Selling & Admin. Expenses |
4,092,914,943 |
3,860,860,040 |
3,024,251,130 |
|
Operating Income |
3,789,290,729 |
3,740,021,252 |
2,949,419,663 |
|
Non-Operating Income |
1,285,258,545 |
1,753,572,785 |
1,789,787,841 |
|
Non-Operating Expenses |
1,602,490,534 |
1,291,662,784 |
899,372,113 |
|
Income Before Taxes |
3,472,058,740 |
4,201,931,253 |
3,839,835,391 |
|
Income Taxes Expenses |
638,184,392 |
717,019,195 |
727,425,565 |
|
Net Income |
2,833,874,348 |
3,484,912,058 |
3,112,409,826 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Cash Flows from Operating |
5,768,983,604 |
-3,896,881,092 |
-857,728,583 |
|
-Net Income |
2,833,874,348 |
3,484,912,058 |
3,112,409,826 |
|
-Exp. without Cash Outflow |
1,002,356,337 |
738,423,112 |
694,647,657 |
|
-Revenue without Cash Inflows |
-252,409,780 |
-834,307,714 |
-1,031,711,892 |
|
-Changes in Asset/ & Liability |
2,185,162,699 |
-7,285,908,548 |
-3,633,074,174 |
|
Cash Flows from Investing |
-1,062,800,659 |
-414,993,173 |
-5,816,959,364 |
|
-Cash Inflow from Investing |
7,684,893,395 |
7,686,821,316 |
6,444,617,734 |
|
-Cash Outflows for Investing |
-8,747,694,054 |
-8,101,814,489 |
-12,261,577,098 |
|
Cash Flows from Financing |
-4,617,586,230 |
4,586,092,325 |
6,812,236,127 |
|
-Cash Inflows from Financing |
48,634,375,907 |
43,261,807,558 |
39,342,501,019 |
|
-Cash Outflows from Financing |
-53,251,962,137 |
-38,675,715,233 |
-32,530,264,892 |
|
Increase/Decrease in Cash |
88,596,715 |
274,218,060 |
137,548,180 |
|
Cash at the Beginning of Year |
943,041,877 |
668,823,817 |
531,275,637 |
|
Cash at the End of Year |
1,031,638,592 |
943,041,877 |
668,823,817 |
|
Main Products & Services |
Lumber Products |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
EAGON INDUSTRIAL LTD.(120111-0001959) |
|
Competitors |
KWANG WON LUMBER CO., LTD. 162-7L, NAMDONG INDUSTRIAL COMPLEX, 736-4,
GOJAN-DONG, NAMDONG-GU, INCHEON, KOREA TEL:+82-32-811-7100 FAX:+82-32-811-0470 DK KOREA LTD. RM.
310, JEONGSEOK BLDG. ANNEX, 7-241, SINHEUNGDONG 3-GA, JUNG-GU, INCHEON, KOREA TEL:+82-32-886-8933 FAX:+82-32-885-8933 SAMSUNG WOOD CO., LTD. 698-4, BULLO-DONG, SEO-GU, INCHEON, KOREA TEL:+82-32-562-6333 FAX:+82-32-562-9162 |
|
Affiliates |
|
|
Overseas Office |
|
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
|
|
Subsidiary |
|
|
Corporate Ownership |
|
|
Major Shareholders |
|
|
Cooperative Enterprise |
-Insured Company HANWHA GENERAL INSURANCE CO., LTD.(110111-0006456) SAMSUNG FIRE & MARINE INSURANCE CO.,LTD.(110111-0005078) |
The Subject imports
from Russia and Indonesia.
No.
----------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.65 |
|
|
1 |
Rs.99.61 |
|
Euro |
1 |
Rs.72.33 |
|
KRW |
1 |
Rs.0.056 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
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.