|
Report No. : |
356890 |
|
Report Date : |
23.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
KCI LIMITED |
|
|
|
|
Registered Office : |
221, Daejuk 1-Ro, Daesan-Eup, Seosan-Si, Chungcheongnam-Do |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
30.09.2015 |
|
|
|
|
Date of Incorporation : |
13.07.1991 |
|
|
|
|
Com. Reg. No.: |
133-81-26385 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Surface-Active Agents and Cosmetics Materials like Surfactant, Polyquaternium, Preservative, Resin, BTAC |
|
|
|
|
No. of Employee : |
120 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 |
KCI LIMITED
Basic
|
Company Name |
KCI LIMITED (Korean Company Name : “(주)케이씨아이”) |
|
Registered Address |
221, Daejuk 1-ro, Daesan-eup, Seosan-si,
Chungcheongnam-do, Korea (Old Address System : 13-7, Daejuk-ri,
Daesan-eup, Seosan-si, Chungcheongnam-do, Korea) |
|
Building |
|
|
Zip Code |
31903 |
|
Tel |
+82-41-660-7900 |
|
Fax |
+82-41-668-7901 |
|
E-mail |
lab@kciltd.com |
|
Website |
www.kciltd.com |
|
Trading Address |
9th Fl., 2-dong, IT Castle, 137, Gasan digital
1-ro, Geumcheon-gu, Seoul, Korea (Old Address System : 9th Fl., 2-dong, IT
Castle, 376-16, Gasan-dong, Geumcheon-gu, Seoul, Korea) |
|
Tel |
+82-2-784-1480 |
|
Fax |
+82-2-784-9018 |
|
Other Address |
|
|
Tel |
|
|
Fax |
|
|
Type |
Export |
|
Industry |
Manufacture of Surface-Active Agents and Cosmetics Materials |
|
Main Business |
Surfactant, Polyquaternium, Preservative, Resin, BTAC |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
07/13/1991 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Preservatives(12164501) |
|
Sell |
Surfactants(12161900) |
|
Sell |
Resins(13111000) |
|
Buy |
Texturing materials(31211602) |
|
Buy |
Alcohols or its substitutes(12352104) |
|
Buy |
Amines or imines or its
substitutes(12352116) |
|
Buy |
Organic derivatives and substituted
compounds(12352100) |
|
Buy |
Chemicals including Bio Chemicals and Gas
Materials(12000000) |
|
Name |
Yoon Kwang-Ho |
|
Address |
Suite 808, 401, Mokdongdong-ro,
Yangcheon-gu, Seoul, Korea |
|
Date of Birth |
09/16/1962 |
|
Title |
President & CEO |
|
Nationality |
Korean |
|
Capital (KRW) |
5,635,000,000 |
||||||||||||||||||||||||||||||
|
Employees |
120 |
||||||||||||||||||||||||||||||
|
Formation |
Listed Company (KOSDAQ : 036670) as of 12/29/2000 |
||||||||||||||||||||||||||||||
|
Bank Details |
Kookmin Bank-Seo Yoido Branch Industrial Bank of Korea KEB Hana Bank |
||||||||||||||||||||||||||||||
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Corporate Registered No. |
124411-0011884 |
||||||||||||||||||||||||||||||
|
Business Registered No. |
133-81-26385 |
||||||||||||||||||||||||||||||
|
Permit & Licenses |
06/10/1999 ISO 9001 10/27/2006 INNO-BIZ 12/16/2010 NET Int’l Trade No.: 984377 |
||||||||||||||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||||||||||||||
|
Company History |
02/10/1985 Established as Geonchang
Chemical Co.(Sole Proprietorship) 07/13/1991 Incorporated as Geonchang
Chemical Ltd. 03/23/1999 Designated as a Venture Business 01/28/2000 Changed company name to the
present name 09/07/2001 Split off the par value to 500
KRW from 5,000 KRW 11/30/2010 Awarded US$ 20 Million Export
Top Prize 11/14/2012 Designated as a Venture Business
again 11/26/2013 Increased capital to 5,635,000,000
KRW from 5,500,000,000 KRW 11/26/2013 11,270,000(Total
Shares)=11,000,000(Common)+270,000(Preferable) 11/06/2015 11,270,000(Total
Shares)=11,270,000 (Common) |
||||||||||||||||||||||||||||||
|
|
|
Management
|
Job
Description |
Name |
Nationality |
Date of Birth |
Inauguration
Date |
|
President & CEO |
Yoon
Kwang-Ho |
Korean |
09/16/1962 |
12/01/2015 |
|
Chairman & CEO |
Yoon Jae-Koo |
Korean |
12/15/1933 |
02/14/2002 |
|
Director |
Yoon Mi-Ra |
Korean |
01/02/1958 |
03/25/2013 |
|
Auditor |
Wang Se-Kwon |
Korean |
04/10/1949 |
03/20/2008 |
|
Year / Unit
: KRW |
Sales |
Assets |
Net Income |
|
(*)09/2015 |
28,904,731,273 |
55,474,746,863 |
3,958,512,405 |
|
(*)2014 |
39,165,387,319 |
56,195,855,739 |
3,306,976,215 |
|
(*)2013 |
33,252,081,362 |
54,223,308,809 |
2,291,429,513 |
|
(*)2012 |
30,028,762,454 |
53,005,558,109 |
1,881,511,657 |
|
2011 |
26,841,468,172 |
51,991,276,978 |
1,453,099,087 |
|
2010 |
28,766,033,917 |
49,467,366,154 |
2,623,191,590 |
|
2009 |
24,674,184,684 |
49,208,451,032 |
3,258,618,066 |
(*)Figures are based
on the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
20,000,000,000 |
|
Paid-Up Capital(KRW) |
5,635,000,000 |
|
Total Issued Shares |
11,270,000 |
|
BALANCE SHEET |
|||
|
Unit : Korean Won |
01/01/2015~09/30/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Total Assets |
55,474,746,863 |
56,195,855,739 |
54,223,308,809 |
|
Current Assets |
24,867,645,813 |
23,936,172,096 |
19,580,882,989 |
|
Cash & Cash Equivalents |
6,035,518,569 |
3,497,044,148 |
2,532,779,964 |
|
Current Financial Instruments |
534,631,000 |
1,388,298,674 |
302,750,000 |
|
Trade Receivables & Other Receivables |
8,884,125,097 |
8,040,218,074 |
6,387,757,767 |
|
Other Current Assets |
499,218,761 |
687,184,673 |
1,022,331,040 |
|
Inventories |
8,914,152,386 |
10,323,426,527 |
9,335,264,218 |
|
Non-Current Assets |
30,607,101,050 |
32,259,683,643 |
34,642,425,820 |
|
Tangibles |
28,273,883,782 |
29,898,185,343 |
32,168,313,353 |
|
Intangibles |
609,721,204 |
604,286,350 |
910,715,877 |
|
Other Financial Assets |
533,924,864 |
606,947,664 |
484,852,402 |
|
Investment_Related Companies |
1,090,922,212 |
972,601,241 |
878,888,065 |
|
Deferred Income Tax Assets |
98,648,988 |
177,663,045 |
199,656,123 |
|
Total Liabilities |
13,464,522,452 |
15,856,933,749 |
16,629,857,444 |
|
Current Liabilities |
12,634,862,306 |
14,716,324,755 |
13,305,601,117 |
|
Trade Payables & Other Payables |
2,514,541,544 |
3,137,950,658 |
2,020,440,184 |
|
Short-Term Borrowings |
8,767,280,000 |
10,972,760,000 |
11,173,560,000 |
|
Deferred Income Tax Credit |
754,411,868 |
205,122,448 |
11,470,500 |
|
Other Current Liabilities |
598,628,894 |
400,491,649 |
100,130,433 |
|
Non-Current Liabilities |
829,660,146 |
1,140,608,994 |
3,324,256,327 |
|
Long-Term Borrowings |
705,331,149 |
1,069,608,994 |
3,273,256,327 |
|
Other Non-Current Liabilities |
124,328,997 |
71,000,000 |
51,000,000 |
|
Capital Stock |
5,565,000,000 |
5,565,000,000 |
5,500,000,000 |
|
Capital Surplus |
6,050,876,267 |
6,050,876,267 |
5,539,887,209 |
|
Capital Adjustment |
-1,661,940,597 |
-368,512,863 |
-161,546,537 |
|
Others |
-156,049,578 |
-156,049,578 |
-46,171,256 |
|
Profit Surplus |
32,212,338,319 |
29,247,608,164 |
26,761,281,949 |
|
Total Equity |
42,010,224,411 |
40,338,921,990 |
37,593,451,365 |
|
Liab. & Shareholder’s Equity |
55,474,746,863 |
56,195,855,739 |
54,223,308,809 |
|
INCOME STATEMENT |
|||
|
Unit : Korean Won |
01/01/2015~09/30/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Sales |
28,904,731,273 |
39,165,387,319 |
33,252,081,362 |
|
Cost of Sold Goods |
18,971,671,657 |
28,084,850,713 |
23,748,340,580 |
|
Gross Profit |
9,933,059,616 |
11,080,536,606 |
9,503,740,782 |
|
Selling & Admin. Expenses |
5,354,507,782 |
7,770,090,513 |
7,097,173,771 |
|
- Logistics |
72,833,057 |
93,300,866 |
85,009,036 |
|
- Selling Expenses |
1,654,968,799 |
2,405,194,029 |
2,112,697,537 |
|
- Admin. Expenses |
3,626,705,926 |
5,271,595,618 |
4,899,467,198 |
|
Operating Income |
4,578,551,834 |
3,310,446,093 |
2,406,567,011 |
|
Other Income |
1,354,080,494 |
1,634,920,128 |
1,064,116,197 |
|
Other Expenses |
947,769,984 |
862,907,309 |
555,116,097 |
|
Finance Income |
139,002,352 |
89,499,019 |
37,285,475 |
|
Finance Expenses |
265,638,914 |
508,271,135 |
585,431,041 |
|
Income Before Taxes |
4,858,225,782 |
3,663,686,796 |
2,367,421,545 |
|
Income Taxes Expenses |
899,713,377 |
356,710,581 |
75,992,032 |
|
Net Income |
3,958,512,405 |
3,306,976,215 |
2,291,429,513 |
|
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 |
6,693,137,769 |
5,686,032,642 |
1,864,978,183 |
|
Cash Flows from Operating |
6,863,084,518 |
5,957,847,125 |
2,390,550,355 |
|
Net Income |
3,958,512,405 |
3,306,976,215 |
2,291,429,513 |
|
Adjustment |
2,659,199,119 |
4,042,248,341 |
3,657,196,818 |
|
Changes in Asset/ & Liability |
245,372,994 |
-1,391,377,431 |
-3,558,075,976 |
|
Interests Received |
29,625,981 |
50,000,766 |
29,144,853 |
|
Interests Paid |
-199,572,730 |
-394,727,249 |
-554,717,025 |
|
Dividends Received |
|
72,912,000 |
|
|
Cash Flows from Investing |
-601,368,655 |
-1,949,351,078 |
-278,462,862 |
|
Cash Inflow from Investing |
3,026,168,925 |
884,206,700 |
1,030,040,933 |
|
Cash Outflows for Investing |
-3,627,537,580 |
-2,833,557,778 |
-1,308,503,795 |
|
Cash Flows from Financing |
-3,590,152,250 |
-2,765,960,000 |
-1,733,696,000 |
|
Cash Inflows from Financing |
|
1,098,500,000 |
5,682,414,000 |
|
Cash Outflows from Financing |
-3,590,152,250 |
-3,864,460,000 |
-7,416,110,000 |
|
Increase/Decrease in Cash |
2,538,474,421 |
964,264,184 |
-147,475,102 |
|
Cash at the Beginning of Year |
3,497,044,148 |
2,532,779,964 |
2,680,255,066 |
|
Cash at the End of Year |
6,035,518,569 |
3,497,044,148 |
2,532,779,964 |
|
Main Products & Services |
Polymer, Surface-Active Agents, Resin Brand Name : POLYQUTA KC, Polyquaternium-10,
BTAC |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
AMOREPACIFIC CORP.(110111-3471036) LG HOUSEHOLD & HEALTH CARE LTD.(110111-2208000) TAECHANG MULSAN CO., LTD.(124411-0010182) L'OREAL P&G UNILEVER |
|
Competitors |
HUCHEMS FINE CHEMICAL CORPORATION 5TH FL., KUKDONG BLDG., 60-1, CHUNGMURO
3-GA, JUNG-GU, SEOUL, KOREA TEL:+82-2-2262-0600 FAX:+82-2-2265-9381 COSMO CHEMICAL CO., LTD. 1534-5, SEOCHO 3-DONG, SEOCHO-GU, SEOUL,
KOREA TEL:+82-32-451-6100 FAX:+82-32-451-6119 FOOSUNG CO., LTD. 427-9, NOHA-RI, PALTAN-MYEON, HWASEONG-SI,
GYEONGGI-DO, KOREA TEL:+82-31-495-7243 FAX:+82-31-491-1649 AMERCHOL(DOW) |
(Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
BIOS CHEMICAL CO., LTD.(110111-5658814) (10.0% held by the subject company) |
|
Overseas Office |
|
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
|
|
Subsidiary |
KCI JAPAN CO.,LTD (45.0% held by the subject company) KCI-THAILAND (KEONCHANG CHEMICAL INDUSTRY CO., LIMITED) (49.0% held by the subject company) O&O CHEMICAL CO., LTD.(135511-0195103) (49.0% held by the subject company) |
|
Corporate Ownership |
|
|
Major Shareholders |
|
|
Cooperative Enterprise |
-Insured company KB INSURANCE CO., LTD.(110111-0017859) |
(Activity &
Markets)
|
Sales/ Unit :Thousand KRW |
06/2015 |
2014 |
2013 |
|
Export |
15,133,403 |
30,728,293 |
25,091,867 |
|
Domestic |
4,500,932 |
8,437,094 |
8,160,214 |
|
Total |
19,634,335 |
39,165,387 |
33,252,081 |
The Subject exports
to South America, USA, Middle East, Europe, Japan and China.
COURT ACTION
No.
NEWS CLIPPING
------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.30 |
|
|
1 |
Rs.98.71 |
|
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
: |
DIV |
|
|
|
|
Report Prepared
by : |
ASH |
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.