|
Report No. : |
307178 |
|
Report Date : |
09.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
KO AL CO., LTD. |
|
|
|
|
Registered Office : |
457, Gwangdeok-ri, Doan-myeon, Jeungpyeong-gun, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2008 |
|
|
|
|
Date of Incorporation : |
15.08.1986 |
|
|
|
|
Com. Reg. No.: |
315-81-01588 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Manufacture of Rolled, Drawn and Folded Products of Aluminum |
|
|
|
|
No. of Employee : |
104 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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 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, and is currently the world's 12th largest economy. Initially,
a system of close government and business ties, including directed credit and
import restrictions, 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 6.9% 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 6.3% growth in 2010. The US-Korea Free Trade Agreement was
ratified by both governments in 2011 and went into effect in March 2012.
Throughout 2012 and 2013 the economy experienced sluggish growth because of
market slowdowns in the United States, China, and the Eurozone. The
administration in 2014 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 heavy reliance on exports, which comprise about half of GDP.
|
Source
: CIA |
Basic
|
Company Name |
KO AL CO., LTD. (Ex. English Company Name : KOREA ALUMINIUM CO., LTD) |
|
Registered Address |
457, Gwangdeok-ri, Doan-myeon, Jeungpyeong-gun, Chungcheongbuk-do,
Korea |
|
Zip Code |
368-811 |
|
Tel |
+82-43-836-8801 |
|
Fax |
+82-43-836-8804 |
|
E-mail |
wedmaster@kor-al.co.kr |
|
Website |
www.kor-al.co.kr |
|
Trading Address |
457, Gwangdeok-ri, Doan-myeon, Jeungpyeong-gun, Chungcheongbuk-do,
Korea |
|
Tel |
+82-43-836-8801 |
|
Fax |
+82-43-836-8804 |
|
Type |
Export |
|
Industry |
Manufacture of Rolled, Drawn and Folded Products of Aluminum |
|
Main Business |
Aluminium Foil, Laminate Tube |
|
Established (mm/dd/yyyy) |
08/15/1986 |
The Subject owns the premises of registered
HQ address/Factory(20,217㎡).
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Aluminum foil(30102006) |
|
Name |
Seo Kwang-Jo |
|
Address |
Suite 102-1906, 499, Godeok-dong,
Gangdong-gu, Seoul, Korea |
|
Date of Birth |
04/26/1953 |
|
Title |
Management Supervisor |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
19,887,425,000 |
|||||||||||||||||||||||||||
|
Employees |
104 |
|||||||||||||||||||||||||||
|
Formation |
Co., Ltd by shares |
|||||||||||||||||||||||||||
|
Bank Details |
Kookmin Bank-Jeungpyeong Branch |
|||||||||||||||||||||||||||
|
Corporate Registered No. |
154411-0000686 |
|||||||||||||||||||||||||||
|
Business Registered No. |
315-81-01588 |
|||||||||||||||||||||||||||
|
Permit & Licenses |
05/1998 ISO 9002 Int’l Trade No.: 16606 |
|||||||||||||||||||||||||||
|
Shareholder Position |
|
|||||||||||||||||||||||||||
|
Company History |
08/15/1986 Incorporated as KOREA ALUMINIUM
CO., LTD. 11.05/1997 The Subject has been bankrupt
due to the accumulated losses and bankruptcy of HAITAI YUTONG CO., LTD.,
which was one of the major customers. 08/21/1999 Applied for the Procedure of
Corporate Clearing and Freezing Corporate Assets 09/21/1999 Decided to Freeze Corporate
Assets by Cheongju District Court 11/26/1999 Started Procedure of Corporate
Clearing 09/05/2000 Approved of the Corporate
Clearing Plan by Cheongju District Court 02/09/2009 Changed company name to the
present name from KOREA ALUMINIUM CO., LTD. 07/12/2011 Decided to finish the Corporate Clearing Procedure 07/13/2011 The Subject has been closed according to the National Tax
Services 12/31/2011 The Subject has been disorganized by the order of Chungju
District Court(99HOI3). |
|||||||||||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Management Supervisor |
Mr. |
Seo Kwang-Jo |
Male |
Korean |
02/26/2009 |
|
Outside Director |
Mr. |
Kim Wook-Dong |
Male |
Korean |
09/05/2004 |
|
Outside Director |
Mr. |
Park Cheol-Man |
Male |
Korean |
09/05/2004 |
|
Auditor |
Mr. |
Kim Joon-Hoi |
Male |
Korean |
04/01/2008 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
|
|
|
|
|
2012 |
|
|
|
|
2011 |
|
|
|
|
2010 |
|
|
|
|
2009 |
|
|
|
|
2008 |
40,530,218,579 |
11,437,133,059 |
-5,147,477,071 |
|
2007 |
31,459,295,298 |
9,854,623,287 |
-5,698,087,470 |
|
2006 |
24,351,707,358 |
8,909,907,372 |
-4,458,626,639 |
|
2005 |
19,817,145,902 |
9,691,258,672 |
-4,725,412,451 |
|
2004 |
21,739,192,902 |
10,094,815,378 |
-5,615,080,115 |
|
2003 |
20,665,853,021 |
12,296,602,429 |
-4,414,398,488 |
The latest financials are not available, and the
Subject Company does not have any obligations to release its financials to the
public.
|
Authorized Capital(KRW) |
30,000,000,000 |
|
Paid-Up Capital(KRW) |
19,887,425,000 |
|
Total Issued Shares |
3,977,485 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2009 |
As of 12/31/2008 |
As of 12/31/2007 |
|
Total Assets |
|
11,437,133,059 |
9,854,623,287 |
|
Current Assets |
|
7,449,116,157 |
6,035,408,756 |
|
-Quick Assets |
|
4,786,230,095 |
3,593,356,303 |
|
-Inventories |
|
2,662,886,062 |
2,442,052,453 |
|
Fixed Assets |
|
3,988,016,902 |
3,819,214,531 |
|
-Investment |
|
12,824,996 |
12,864,996 |
|
-Tangibles |
|
3,415,833,163 |
3,775,779,448 |
|
-Intangibles |
|
1,211,343 |
2,422,687 |
|
-Others |
|
558,147,400 |
28,147,400 |
|
Total Liabilities |
|
70,065,627,305 |
63,335,640,462 |
|
Current Liabilities |
|
50,690,714,210 |
37,831,440,522 |
|
Fixed Liabilities |
|
19,374,913,095 |
25,504,199,940 |
|
Capital Stock |
|
19,887,425,000 |
19,887,425,000 |
|
Capital Surplus |
|
74,299,128 |
74,299,128 |
|
Profit Surplus |
|
-78,590,218,374 |
-73,442,741,303 |
|
Capital Adjustment |
|
|
|
|
Total Equity |
|
-58,628,494,246 |
-53,481,017,175 |
|
Liab. & Shareholder’s Equity |
|
11,437,133,059 |
9,854,623,287 |
|
Current Liabilities |
|
50,690,714,210 |
37,831,440,522 |
|
Trade Payables |
|
2,553,414,504 |
2,725,035,706 |
|
Account Payables |
|
1,798,383,641 |
907,039,007 |
|
Advance Receipts |
|
136,042,576 |
160,657,874 |
|
Withholdings |
|
20,349,070 |
37,884,695 |
|
Accrued Expenses |
|
21,382,238,346 |
16,575,232,719 |
|
Current Portion of Long-Term Debts |
|
25,795,609,866 |
18,599,411,548 |
|
Fixed Liabilities |
|
19,374,913,095 |
25,504,199,940 |
|
Long-Term Borrowings |
|
17,707,686,962 |
24,905,526,280 |
|
Provision for Severance & Retirement |
|
2,503,555,620 |
2,433,994,640 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2009 |
As of 12/31/2008 |
As of 12/31/2007 |
|
Sales |
|
40,530,218,579 |
31,459,295,298 |
|
Cost of Sold Goods |
|
36,803,503,916 |
29,654,288,741 |
|
Gross Profit |
|
3,726,714,663 |
1,805,006,557 |
|
Selling & Admin. Expenses |
|
2,461,789,962 |
1,935,170,696 |
|
Operating Income |
|
1,264,924,701 |
-130,164,139 |
|
Non-Operating Income |
|
1,011,400,883 |
154,017,570 |
|
Non-Operating Expenses |
|
7,423,802,655 |
5,721,940,901 |
|
Income Before Taxes |
|
-5,147,477,071 |
-5,698,087,470 |
|
Income Taxes Expenses |
|
- |
- |
|
Net Income |
|
-5,147,477,071 |
-5,698,087,470 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2009 |
As of 12/31/2008 |
As of 12/31/2007 |
|
Cash Flows from Operating |
|
666,725,843 |
246,260,177 |
|
-Net Income |
|
-5,147,477,071 |
-5,698,087,470 |
|
-Exp. without Cash Outflow |
|
2,233,910,068 |
2,238,347,103 |
|
-Revenue without Cash Inflows |
|
-8,642,135 |
-9,367,638 |
|
-Changes in Asset/ & Liability |
|
3,588,934,981 |
3,715,368,182 |
|
Cash Flows from Investing |
|
-669,843,948 |
-254,308,656 |
|
-Cash Inflow from Investing |
|
4,696,000 |
14,155,560 |
|
-Cash Outflows for Investing |
|
-674,539,948 |
-268,464,216 |
|
Cash Flows from Financing |
|
-1,641,000 |
-2,978,125 |
|
-Cash Inflows from Financing |
|
- |
- |
|
-Cash Outflows from Financing |
|
-1,641,000 |
-2,978,125 |
|
Increase/Decrease in Cash |
|
-4,759,105 |
-11,026,604 |
|
Cash at the Beginning of Year |
|
60,964,931 |
71,991,535 |
|
Cash at the End of Year |
|
56,205,826 |
60,964,931 |
|
Main Products & Services |
Aluminium Foil, Laminate Tube |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
FINE PARTNERS CORPORATION(110111-0383507) AND STARLEASE CO.,
LTD.(110111-0383383) provide the facilities leasing services to the subject
company. |
|
Customers |
|
|
Competitors |
SAM-A ALUMINIUM CO., LTD. 111-2, BAKDAL 2-DONG, MANAN-GU, ANYANG-SI, GYEONGGI-DO,
KOREA TEL:+82-31-467-6800 FAX:+82-31-446-2121 DAE HAN EUNPAKGY CO., LTD. 308, UNYONG-RI, DUNPO-MYEON, ASAN-SI,
CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-532-0108 FAX:+82-41-532-0109 DONG-IL ALUMINIUM CORPORATION 378-1, CHEONHEUNG-RI, SEONGGEO-EUP,
CHEONAN-SI, CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-559-2200 FAX:+82-41-555-9600 |
|
Cooperative Enterprise |
-Insured Company HANWHA NON-LIFE INSURANCE CO., LTD.(110111-0006456) |
Not Available.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.74 |
|
|
1 |
Rs.94.65 |
|
Euro |
1 |
Rs.70.79 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SDA |
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.