|
Report No. : |
357190 |
|
Report Date : |
24.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
PATRA CO., LTD. |
|
|
|
|
Registered Office : |
Na Dong, 232, Sandan-ro, Danwon-gu,
Ansan-si, Gyeonggi-do, |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
24.06.2003 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
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|
|
|
Line of Business : |
Manufacture of Metal Furniture Office Chairs, Metal Furniture Parts |
|
|
|
|
No. of Employee : |
64 |
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 |
Basic
|
Company Name |
PATRA CO., LTD. |
|
Registered Address |
Na Dong, 232, Sandan-ro, Danwon-gu, Ansan-si,
Gyeonggi-do, Korea (Old Address System : Na Dong, 770-3, Wonsi-dong,
Danwon-gu, Ansan-si, Gyeonggi-do, Korea) |
|
Building |
|
|
Zip Code |
15433 |
|
Tel |
+82-31-494-2616
+82-31-362-5460 |
|
Fax |
+82-31-493-0646 |
|
E-mail |
sales@patrakorea.com |
|
Website |
www.patrakorea.com |
|
Trading Address |
86, Ttukseom-ro 22-gil, Gwangjin-gu, Seoul 143-844
Korea (Old Address System : 57-113, Jayang 4-dong,
Gwangjin-gu, Seou 143-844 Korea) |
|
Tel |
+82-2-499-2152 |
|
Fax |
+82-2-499-2154 |
|
Other Address |
57-113, Jayang 4-dong, Gwangjin-gu, Seoul, Korea |
|
Tel |
|
|
Fax |
|
|
Type |
Export |
|
Industry |
Manufacture of Metal Furniture |
|
Main Business |
Office Chairs, Metal Furniture Parts |
|
Sub Business |
|
|
Established (mm/dd/yyyy) |
06/24/2003 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Task seating(56112102) |
|
Sell |
Camping and outdoor equipment(49121500) |
|
Name |
Han Sang-Kook |
|
Address |
Suite 302-201, 55, Sanun-ro, Bundang-gu, Seongnam-si, Gyeonggi-do,
Korea |
|
Date of Birth |
05/03/1963 |
|
Title |
President & CEO |
|
Nationality |
Korean |
|
Capital (KRW) |
300,000,000 |
|||||||||||||||
|
Employees |
64 |
|||||||||||||||
|
Formation |
Co., Ltd by Shares |
|||||||||||||||
|
Bank Details |
Shinhan Bank-Banwol Corporate Branch Industrial Bank of Korea Woori Bank |
|||||||||||||||
|
Corporate Registered No. |
131411-0142001 |
|||||||||||||||
|
Business Registered No. |
134-86-01816 |
|||||||||||||||
|
Permit & Licenses |
12/13/2005 ISO 9001 08/2013 ISO 14001 08/2011 ISO 9001 Int’l Trade No.: 21068304 |
|||||||||||||||
|
Shareholder Position |
|
|||||||||||||||
|
Company History |
06/1984 Established as HYUNDAE METAL CO.(Sole
Proprietorship) 06/24/2003 Incorporated as the present name 04/22/2004 Increased the authorized shares to 200,000
shares from 20,000 shares 04/23/2004 Increased capital to 300,000,000 KRW from
200,000,000 KRW 12/2008 Awarded US$ 3 Million Export Top Prize 07/19/2012 Changed company name to the present name |
|||||||||||||||
|
|
|
Management
|
Job Description |
Name |
Nationality |
Date of Birth |
Inauguration Date |
|
President & CEO |
Han Sang-Kook |
Korean |
05/03/1963 |
06/24/2003 |
|
Director |
Han Moo-Kil |
Korean |
12/01/1940 |
03/31/2006 |
|
Auditor |
Park Jung-Yoon |
Korean |
02/17/1967 |
10/17/2003 |
|
Supervisor |
Lim Kwan-Soo |
Korean |
02/23/1966 |
03/20/2015 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2014 |
26,210,775,431 |
10,585,075,414 |
345,562,955 |
|
2013 |
21,531,287,767 |
9,351,126,962 |
-758,946,537 |
|
2012 |
19,311,000,000 |
9,847,000,000 |
330,000,000 |
|
2011 |
19,023,000,000 |
9,694,000,000 |
537,000,000 |
|
2010 |
17,175,000,000 |
9,150,000,000 |
456,000,000 |
|
2009 |
14,460,000,000 |
7,767,000,000 |
532,000,000 |
|
2008 |
15,175,000,000 |
6,999,000,000 |
585,000,000 |
|
Authorized Capital(KRW) |
2,000,000,000 |
|
Paid-Up Capital(KRW) |
300,000,000 |
|
Total Issued Shares |
30,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of
12/31/2014 |
As of
12/31/2013 |
As of
12/31/2012 |
|
Total Assets |
10,585,075,414 |
9,351,126,962 |
9,847,000,000 |
|
Current Assets |
5,793,126,635 |
5,185,998,239 |
5,525,000,000 |
|
-Quick Assets |
3,142,458,687 |
3,213,594,352 |
- |
|
-Inventories |
2,650,667,948 |
1,972,403,887 |
- |
|
Fixed Assets |
4,791,948,779 |
4,165,128,723 |
4,322,000,000 |
|
-Investment |
1,232,713,198 |
1,030,702,908 |
- |
|
-Tangibles |
2,603,257,138 |
2,080,509,503 |
- |
|
-Intangibles |
342,703,443 |
456,469,312 |
- |
|
-Others |
613,275,000 |
597,447,000 |
|
|
Total Liabilities |
8,451,096,087 |
7,559,820,880 |
6,034,000,000 |
|
Current Liabilities |
7,500,670,070 |
6,980,520,999 |
5,430,000,000 |
|
Fixed Liabilities |
950,426,017 |
579,299,881 |
604,000,000 |
|
Capital Stock |
300,000,000 |
300,000,000 |
300,000,000 |
|
Capital Surplus |
|
|
- |
|
Profit Surplus |
1,848,173,277 |
1,502,610,322 |
- |
|
Capital Adjustment |
-14,193,950 |
-11,304,240 |
- |
|
Total Equity |
2,133,979,327 |
1,791,306,082 |
3,813,000,000 |
|
Liab. & Shareholder’s Equity |
10,585,075,414 |
9,351,126,962 |
9,847,000,000 |
|
Current Liabilities |
7,500,670,070 |
6,980,520,999 |
- |
|
Trade Payables |
1,757,567,301 |
1,236,722,710 |
- |
|
Account Payables |
49,846,066 |
37,228,657 |
|
|
Withholdings |
53,271,923 |
43,306,250 |
|
|
Guarantee Deposit Withhold |
78,422,955 |
96,896,000 |
|
|
Advance Receipts |
137,285,139 |
361,990,524 |
|
|
Short-Term Borrowings |
3,387,000,000 |
3,498,131,613 |
|
|
Accrued Expenses |
1,787,276,686 |
1,581,245,245 |
|
|
Current Portion of Long-Term Debts |
250,000,000 |
125,000,000 |
|
|
Fixed Liabilities |
950,426,017 |
579,299,881 |
|
|
Long-Term Borrowings |
625,000,000 |
375,000,000 |
|
|
Provision for Severance & Retirement |
280,426,017 |
179,299,881 |
|
|
Leasehold Deposit Received |
45,000,000 |
25,000,000 |
|
|
Income
Statement |
|||
|
Unit : Korean Won |
As of
12/31/2014 |
As of
12/31/2013 |
As of
12/31/2012 |
|
Sales |
26,210,775,431 |
21,531,287,767 |
19,311,000,000 |
|
Cost of Sold Goods |
21,309,053,592 |
18,214,976,576 |
16,125,000,000 |
|
Gross Profit |
4,901,721,839 |
3,316,311,191 |
3,186,000,000 |
|
Selling & Admin. Expenses |
4,372,513,671 |
3,884,492,632 |
2,833,000,000 |
|
Operating Income |
529,208,168 |
-568,181,441 |
353,000,000 |
|
Non-Operating Income |
141,684,991 |
101,356,008 |
346,000,000 |
|
Non-Operating Expenses |
325,330,204 |
292,121,104 |
345,000,000 |
|
Income Before Taxes |
345,562,955 |
-758,946,537 |
354,000,000 |
|
Income Taxes Expenses |
- |
- |
24,000,000 |
|
Net Income |
345,562,955 |
-758,946,537 |
330,000,000 |
|
Cash Flows |
|||
|
Unit :
Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Cash Flows from Operating |
701,065,513 |
-119,415,340 |
|
|
-Net Income |
345,562,955 |
-758,946,537 |
|
|
-Exp. without Cash Outflow |
799,264,404 |
462,865,052 |
|
|
-Revenue without Cash Inflows |
-3,721,632 |
- |
|
|
-Changes in Asset/ & Liability |
-440,040,214 |
176,666,145 |
|
|
Cash Flows from Investing |
-1,017,603,595 |
-60,117,805 |
|
|
-Cash Inflow from Investing |
190,614,079 |
386,253,736 |
|
|
-Cash Outflows for Investing |
-1,208,217,674 |
-446,371,541 |
|
|
Cash Flows from Financing |
263,868,387 |
411,294,863 |
|
|
-Cash Inflows from Financing |
1,387,000,000 |
1,456,311,613 |
|
|
-Cash Outflows from Financing |
-1,123,131,613 |
-1,045,016,750 |
|
|
Increase/Decrease in Cash |
-52,669,695 |
231,761,718 |
|
|
Cash at the Beginning of
Year |
465,703,052 |
233,941,334 |
|
|
Cash at the End of Year |
413,033,357 |
465,703,052 |
|
|
Main Products & Services |
Office Chairs, Metal Furniture Parts |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
MIDO CHEMICAL CO., LTD.(KOREA) SEORIN CO., LTD.(KOREA) DAEHA PRECISWION CO., LTD.(KOREA) |
|
Customers |
OFS(USA) ALLSTEEL(USA) ALITAL(PORTUGAL) |
|
Competitors |
BIF APT FURNITURE CO., LTD. 3RD FL., YONGHO BLDG., 259-1, BOGWANG-DONG, YONGSAN-GU,
SEOUL, KOREA TEL:+82-2-522-3500
FAX:+82-2-792-8828 SEDEC CO., LTD. 9TH FL., SEDEC BLDG., 588-18, SINSA-DONG, GANGNAM-GU,
SEOUL, KOREA TEL:+82-2-549-6701
FAX:+82-2-549-9545 CASAMIA CO., LTD. 358, HWANGSAEUL-RO, BUNDANG-GU, SEONGNAM-SI,
GYEONGGI-DO, KOREA TEL:+82-31-780-7100 FAX:+82-31-702-3864 |
(Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
PATRA INTERNATIONAL CO., LTD.(110111-2122771) |
|
Overseas Office |
|
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
|
|
Subsidiary |
QINGDAO PATRA FURNITURE CO., LTD. PATRA TRADING SHANGHAI CO., LTD. |
|
Corporate Ownership |
|
|
Major Shareholders |
|
|
Cooperative Enterprise |
-Insured Company MERITZ FIRE & MARINE INSURANCE CO.,
LTD.(110111-0013328) |
(Activity
& Markets)
|
Sales/ Unit :Mil KRW |
2014 |
2013 |
2012 |
|
Export |
|
|
|
|
Domestic |
|
|
|
|
Total |
|
|
|
Not
Available.
|
Case No. |
Court |
Plaintiff(s)/ Creditor(s)/ Applicant(s) |
Defendant(s)/ Debtor(s)/ Respondent(s) |
Cause |
Amount (Million KRW) |
Status |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
No.
News
Clipping
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.20 |
|
|
1 |
Rs.98.30 |
|
Euro |
1 |
Rs.72.41 |
|
KRW |
1 |
Rs.0.056 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
TRU |
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.