|
Report No. : |
357707 |
|
Report Date : |
30.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
S-FORM ALPHA CO., LTD. |
|
|
|
|
Registered Office : |
474-40, Anseongmatchum-daero,
Miyang-myeon, Anseong-si, Gyeonggi-do, Korea 456-844 |
|
|
|
|
Country : |
South
Korea |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
27.04.2007 |
|
|
|
|
Com. Reg. No.: |
125-81-68254 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Manufacture of Basic Metals. |
|
|
|
|
No. of Employees : |
184 |
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 |
S-FORM ALPHA CO., LTD. |
|
Registered Address |
474-40,
Anseongmatchum-daero, Miyang-myeon, Anseong-si, Gyeonggi-do, Korea (Old Address
System : 446-2, Yangbyeon-ri, Miyang-myeon, Anseong-si, Gyeonggi-do, Korea) |
|
Zip Code |
456-844 |
|
Tel |
+82-31-677-1234 +82-31-677-2101 |
|
Fax |
+82-31-677-1451 +82-31-677-2104 |
|
E-mail |
dmb153@naver.com |
|
|
|
|
Trading Address |
38, Teheran-ro
2-gil, Gangnam-gu, Seoul, Korea (Old Address System : 826-10, Yeoksam
1-dong, Gangnam-gu, Seoul, Korea) |
|
Tel |
+82-2-561-0941 |
|
Fax |
+82-2-554-9389 |
|
|
|
|
Type |
Export/Import |
|
Industry |
Manufacture of Basic Metals |
|
Main Business |
Construction Materials, Aluminum Plate |
|
|
|
|
Established (mm/dd/yyyy) |
04/27/2007 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Aluminum plate(30102206) |
|
Sell |
Aluminum sheet(30102506) |
|
Name |
Kim Joon-Nyeon |
|
Address |
Suite 113-202, 151, Apgujeong-ro,
Gangnam-gu, Seoul, Korea |
|
Date of Birth |
04/25/1974 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
1,000,000,000 |
|||||||||||||||||||||
|
Employees |
184 |
|||||||||||||||||||||
|
Formation |
Co., Ltd by Shares |
|||||||||||||||||||||
|
Bank Details |
Woori Bank Shinhan Bank Hana Bank Industrial Bank of Korea Nonghyup Bank-Seocho RM Branch |
|||||||||||||||||||||
|
Corporate Registered No. |
134611-0034475 |
|||||||||||||||||||||
|
Business Registered No. |
125-81-68254 |
|||||||||||||||||||||
|
Permit & Licenses |
Int’l Trade No.: 13461100 |
|||||||||||||||||||||
|
Shareholder Position |
|
|||||||||||||||||||||
|
Company History |
04/27/2007 Incorporated as SM CO., LTD. 08/12/2008 Increased capital to
1,000,000,000 KRW from 100,000,000 KRW 08/12/2008 Increased the authorized shares
to 500,000 shares from 40,000 shares 07/14/2009 Designated as a Venture Business 12/30/2011 Changed company name to S-FORM
CO., LTD. 11/18/2013
Acquired ALPHAGREEN CO., LTD.(131411-0179046) 01/02/2014 Changed company name to the
present name |
|||||||||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Co-President & CEO |
Mr. |
Kim Joon-Nyeon |
Male |
Korean |
03/29/2013 |
|
Co-President & CEO |
Mr. |
Lim Bum-Soo |
Male |
Korean |
03/29/2013 |
|
Co-President & CEO |
Mr. |
Lee Dong-Kwan |
Male |
Korean |
01/02/2014 |
|
Auditor |
M/S. |
Kim Sung-Hwa |
Female |
Korean |
03/12/2013 |
|
Supervisor |
Mr. |
Park Jin-Sung |
Male |
Korean |
05/10/2013 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2014 |
152,962,674,599 |
193,889,383,492 |
38,447,897,123 |
|
2013 |
122,100,908,382 |
131,808,062,127 |
25,918,942,234 |
|
2012 |
64,249,311,184 |
116,703,195,470 |
13,436,445,580 |
|
2011 |
41,025,416,294 |
76,313,396,575 |
10,416,051,576 |
|
2010 |
38,877,573,122 |
41,725,527,825 |
10,504,385,877 |
|
2009 |
45,646,189,775 |
32,396,101,894 |
20,964,923,444 |
|
Authorized Capital(KRW) |
5,000,000,000 |
|
Paid-Up Capital(KRW) |
1,000,000,000 |
|
Total Issued Shares |
100,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total Assets |
193,889,383,492 |
131,808,062,127 |
116,703,195,470 |
|
Current Assets |
70,292,012,781 |
23,592,045,143 |
33,383,937,417 |
|
-Quick Assets |
63,623,847,589 |
12,449,539,676 |
15,222,821,979 |
|
-Inventories |
6,668,165,192 |
11,142,505,467 |
18,161,115,438 |
|
Fixed Assets |
123,597,370,711 |
108,216,016,984 |
83,319,258,053 |
|
-Investment |
90,995,074,026 |
89,876,631,396 |
63,376,809,243 |
|
-Tangibles |
28,817,584,822 |
16,014,129,752 |
18,395,106,793 |
|
-Intangibles |
789,028,301 |
- |
|
|
-Others |
2,995,683,562 |
2,325,255,836 |
1,547,342,017 |
|
Total Liabilities |
35,356,886,047 |
14,126,391,568 |
25,471,515,729 |
|
Current Liabilities |
34,556,754,862 |
13,660,249,462 |
25,210,196,577 |
|
Fixed Liabilities |
800,131,185 |
466,142,106 |
261,319,152 |
|
Capital Stock |
1,000,000,000 |
1,000,000,000 |
1,000,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
153,893,514,165 |
116,496,085,737 |
90,460,175,668 |
|
Capital Adjustment |
3,638,983,280 |
185,584,822 |
-228,495,927 |
|
Total Equity |
158,532,497,445 |
117,681,670,559 |
91,231,679,741 |
|
Liab. & Shareholder’s Equity |
193,889,383,492 |
131,808,062,127 |
116,703,195,470 |
|
Current Liabilities |
34,556,754,862 |
13,660,249,462 |
25,210,196,577 |
|
Trade Payables |
4,676,584,507 |
3,182,504,544 |
5,304,416,908 |
|
Short-Term Borrowings |
16,559,445,120 |
4,292,385,735 |
14,457,441,476 |
|
Account Payables |
3,410,572,152 |
2,274,341,044 |
2,328,142,072 |
|
Withholdings |
175,646,284 |
37,368,994 |
23,323,800 |
|
Advance Receipts |
2,743,073,234 |
612,601,175 |
82,328,256 |
|
Accrued Expenses |
514,989,578 |
- |
|
|
Guarantee Deposit Withhold |
- |
20,000,000 |
- |
|
Deferred Income Tax |
6,476,443,987 |
3,241,047,970 |
3,014,544,065 |
|
Fixed Liabilities |
800,131,185 |
466,142,106 |
261,319,152 |
|
Provision for Severance & Retirement |
389,720,909 |
245,886,773 |
191,319,152 |
|
Leasehold Deposit Received |
146,150,000 |
70,000,000 |
70,000,000 |
|
Deferred Income Tax Credit |
264,260,276 |
150,255,333 |
- |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
152,962,674,599 |
122,100,908,382 |
64,249,311,184 |
|
Cost of Sold Goods |
110,806,710,937 |
93,172,202,956 |
44,765,662,020 |
|
Gross Profit |
42,155,963,662 |
28,928,705,426 |
19,483,649,164 |
|
Selling & Admin. Expenses |
12,323,832,216 |
7,818,522,565 |
5,181,984,730 |
|
Operating Income |
29,832,131,446 |
21,110,182,861 |
14,301,664,434 |
|
Non-Operating Income |
18,580,247,774 |
11,408,666,525 |
2,603,709,089 |
|
Non-Operating Expenses |
1,494,777,144 |
1,324,215,702 |
334,313,498 |
|
Income Before Taxes |
46,917,602,076 |
31,194,633,684 |
16,571,060,025 |
|
Income Taxes Expenses |
8,469,704,953 |
5,275,691,450 |
3,134,614,445 |
|
Net Income |
38,447,897,123 |
25,918,942,234 |
13,436,445,580 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Cash Flows from Operating |
33,786,563,904 |
28,414,421,889 |
21,938,041,419 |
|
-Net Income |
38,447,897,123 |
25,918,942,234 |
13,436,445,580 |
|
-Exp. without Cash Outflow |
5,787,074,761 |
1,875,209,759 |
5,960,607,863 |
|
-Revenue without Cash Inflows |
-11,641,765,420 |
-7,787,466,325 |
-1,750,855,133 |
|
-Changes in Asset/ & Liability |
1,193,357,440 |
8,407,736,221 |
4,291,843,109 |
|
Cash Flows from Investing |
-6,424,145,448 |
-17,958,195,543 |
-36,043,891,865 |
|
-Cash Inflow from Investing |
2,287,324,638 |
10,148,313,600 |
23,537,247,945 |
|
-Cash Outflows for Investing |
-8,711,470,086 |
-28,106,509,143 |
-59,581,139,810 |
|
Cash Flows from Financing |
6,149,952,665 |
-10,165,055,741 |
12,837,253,052 |
|
-Cash Inflows from Financing |
30,361,673,763 |
178,990,827,982 |
58,454,933,957 |
|
-Cash Outflows from Financing |
-24,211,721,098 |
-189,155,883,723 |
-45,617,680,905 |
|
Increase/Decrease in Cash |
33,512,371,121 |
291,170,605 |
-1,268,597,394 |
|
Cash at the Beginning of Year |
815,646,721 |
524,476,116 |
1,793,073,510 |
|
Cash at the End of Year |
34,328,017,842 |
815,646,721 |
524,476,116 |
|
Main Products & Services |
Construction Materials, Aluminum Plate |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
|
|
Competitors |
N.S METAL CO., LTD. 487-4, WONDANG-DONG, SEO-GU, INCHEON, KOREA TEL:+82-32-564-4900 FAX:+82-32-564-4680 KOOK JAE ENGINEERS LTD. RM. 911, U-IN AKRIUM VILLE 2-CHA, 746,
JANGHANG 2-DONG, ILSANDONG-GU, GOYANG-SI, GYEONGGI-DO, KOREA TEL:+82-31-924-3314 FAX:+82-31-924-1441 B.S METAL CO., LTD. 1072, WONJI-RI, JUCHON-MYEON, GIMHAE-SI,
GYEONGSANGNAM-DO, KOREA TEL:+82-55-337-0794 FAX:+82-55-337-0795 |
|
Affiliates |
SAMMOK S FORM CO., LTD.(110111-0400377) (21.58% held by the subject company) DONG
IL STEEL MFG. CO., LTD.(110111-0032005) (48.00% held by the subject company) ALPHAGREEN CO., LTD.(131411-0179046) (100.00% held by the subject company) SM YOUNGNONG AGRI-COOPERATIVE CO.,
LTD.(134611-0026597) |
|
Overseas Office |
|
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
|
|
Subsidiary |
SAMMOK HI_TECH FORM VINA COMPANY LIMITED (100.00% held by the subject company) SAMMOK S-FORM HIGH INDIA (100.00% held by the subject company) S-FORM ALUMINUM FORMWORK (100.00% held by the subject company) S FORM DO BRASIL FORMS DE ALUMINIO LTDA (100.00% held by the subject company) S-FORM SINGAPORE PTE LTD. (100.00% held by the subject company) ALPHA GREEN(HZ) CO., LTD. (100.00% held by the subject company) ALPHA GREEN(HK) CO., LTD. (100.00% held by the subject company) |
|
Corporate Ownership |
|
|
Major Shareholders |
|
|
Cooperative Enterprise |
-Insured Company SAMSUNG FIRE & MARINE INSURANCE CO.,LTD.(110111-0005078) KB INSURANCE CO., LTD.(110111-0017859) |
Not Available.
No.
-------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.13 |
|
|
1 |
Rs.98.69 |
|
Euro |
1 |
Rs.72.55 |
|
KRW |
1 |
Rs.0.057 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.