|
Report No. : |
307026 |
|
Report Date : |
09.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
LS METAL CO., LTD. |
|
|
|
|
Registered Office : |
159, Samseong 1-dong, Gangnam-gu, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
06.04.2010 |
|
|
|
|
Com. Reg. No.: |
120-87-52157 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Engaged in Metal and Non-Ferrous Metal business from Copper Tube, Stainless Steel Pipe, Large
Diameter & Heavy Wall Thickness, Alloy Pipe to Copper Alloy Plate |
|
|
|
|
No of Employees : |
303 |
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 : |
Exists |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 |
|
Company
Name |
LS METAL CO.,
LTD. (Korean Company Name : “엘에스메탈(주)”) |
|
Registered Address |
159, Samseong 1-dong, Gangnam-gu, Seoul, Korea |
|
Building |
Rm.
3802, ASEM Tower |
|
Zip Code |
135-525 |
|
Tel |
+82-2-6942-6114 |
|
Fax |
+82-2-6942-6112 |
|
E-mail |
|
|
Website |
|
|
Trading
Address |
Rm. 3802, ASEM Tower, 159, Samseong 1-dong, Gangnam-gu, Seoul, Korea |
|
Tel |
+82-2-6942-6114 |
|
Fax |
+82-2-6942-6112 |
|
Type |
Export/Import |
|
Main Business |
Engaged
in Metal and Non-Ferrous Metal business
from Copper Tube, Stainless Steel Pipe, Large Diameter & Heavy Wall
Thickness, Alloy Pipe to Copper Alloy Plate |
|
Established (mm/dd/yyyy) |
04/06/2010 |
The Subject Company
occupies the premises of registered HQ address by leasing base.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Non
ferrous alloy tubing(31231317) |
|
Sell |
Copper
tubing(31231302) |
|
Name |
Han
Jai-Hoon |
|
Address |
Suite 3-406, 66, Daechi-dong,
Gangnam-gu, Seoul, Korea |
|
Date of Birth |
09/17/1957 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
30,000,000,000 |
|||||||||
|
Employees |
303 |
|||||||||
|
Formation |
Co., Ltd by Shares A company of LS Group |
|||||||||
|
Bank Details |
Woori Bank |
|||||||||
|
Corporate Registered No. |
110111-4321602 |
|||||||||
|
Business Registered No. |
120-87-52157 |
|||||||||
|
Permit & Licenses |
Int’l Trade No.: 45405488 |
|||||||||
|
Shareholder Position |
|
|||||||||
|
Company History |
04/06/2010 Incorporated as the present name
after spin off from LS INDUSTRIAL SYSTEMS CO., LTD.(110111-0520076) |
|||||||||
|
|
|
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
President
& CEO |
Mr. |
Han
Jai-Hoon |
Male |
Korean |
04/06/2010 |
|
Director |
Mr. |
Koo Cha-Kyun |
Male |
Korean |
03/22/2013 |
|
Director |
Mr. |
Jung Choong-Hyun |
Male |
Korean |
03/21/2014 |
|
Auditor |
Mr. |
Do Seok-Koo |
Male |
Korean |
04/06/2010 |
|
Supervisor
of HQ Office |
Mr. |
Park Dae-Kyu |
Male |
Korean |
04/06/2010 |
|
Year / Unit
: KRW |
Sales |
Assets |
Net Income |
|
397,462,023,179 |
293,772,943,742 |
2,080,282,046 |
|
|
2012 |
409,071,430,747 |
303,330,874,833 |
10,259,194,321 |
|
2011 |
478,796,954,764 |
283,812,133,308 |
8,007,025,946 |
|
2010 |
276,154,619,521 |
283,863,226,726 |
2,806,526,257 |
|
Authorized Capital(KRW) |
100,000,000,000 |
|
Paid-Up Capital(KRW) |
30,000,000,000 |
|
Total Issues Shares |
6,000,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of
12/31/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Total Assets |
293,772,943,742 |
303,330,874,833 |
283,812,133,308 |
|
Current Assets |
166,631,997,317 |
174,947,428,587 |
160,024,287,068 |
|
Cash & Cash Equivalents |
47,705,545,600 |
3,213,300,180 |
21,609,877,758 |
|
Derivatives |
495,396,899 |
2,173,767,616 |
1,067,086,561 |
|
Trade Receivables |
64,742,270,141 |
91,537,659,160 |
79,597,571,595 |
|
Other Receivables |
1,320,042,149 |
2,358,539,022 |
910,276,774 |
|
Inventories |
50,550,213,007 |
73,198,503,657 |
55,208,147,787 |
|
Other Current Assets |
1,818,529,521 |
2,465,658,952 |
1,631,326,593 |
|
Non-Current Assets |
127,140,946,425 |
128,383,446,246 |
123,787,846,240 |
|
Non-Current Financial Instruments |
11,000,000 |
11,000,000 |
11,000,000 |
|
Marketable Financial Instruments |
20,000,000 |
20,000,000 |
20,000,000 |
|
Other Financial Assets |
2,097,893,600 |
2,080,956,780 |
2,049,646,700 |
|
Tangibles |
123,720,069,026 |
125,259,339,634 |
119,697,657,679 |
|
Intangibles |
816,406,226 |
817,159,896 |
817,913,566 |
|
Deferred Income Tax Assets |
371,874,278 |
63,121,526 |
997,061,335 |
|
Other Non-Current Assets |
103,703,295 |
131,868,410 |
194,566,960 |
|
Total Liabilities |
35,745,909,275 |
47,134,829,560 |
38,112,265,316 |
|
Current Liabilities |
34,907,385,543 |
46,323,458,053 |
36,818,358,234 |
|
Trade Payables |
26,431,473,560 |
34,339,475,766 |
19,490,817,987 |
|
Other Payables |
6,500,647,558 |
9,105,096,412 |
8,468,660,495 |
|
Short-Term Borrowings |
1,270,745,225 |
908,010,501 |
3,588,754,068 |
|
Deferred Income Tax Credit |
15,156,972 |
1,501,340,614 |
2,806,337,634 |
|
Provisions |
183,583,514 |
110,760,721 |
101,000,000 |
|
Derivatives |
257,116,455 |
93,962,884 |
2,181,223,486 |
|
Other Current Liabilities |
248,662,259 |
264,811,155 |
181,564,564 |
|
Non-Current Liabilities |
838,523,732 |
811,371,507 |
1,293,907,082 |
|
Provision for Severance & Retirement |
838,523,732 |
811,371,507 |
1,293,907,082 |
|
Capital Stock |
30,000,000,000 |
30,000,000,000 |
30,000,000,000 |
|
Capital Surplus |
205,031,141,680 |
205,031,141,680 |
205,031,141,680 |
|
Others |
-84,345,168 |
39,278,759 |
-9,278,341 |
|
Profit Surplus |
23,080,237,955 |
21,125,624,834 |
10,678,004,653 |
|
Total Equity |
258,027,034,467 |
256,196,045,273 |
245,699,867,992 |
|
Liab. & Shareholder’s Equity |
293,772,943,742 |
303,330,874,833 |
283,812,133,308 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of
12/31/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Sales |
397,462,023,179 |
409,071,430,747 |
478,796,954,764 |
|
Cost of Sold Goods |
-381,410,568,105 |
-390,677,124,564 |
-457,015,415,320 |
|
Gross Profit |
16,051,455,074 |
18,394,306,183 |
21,781,539,444 |
|
Selling & Admin. Expenses |
-14,586,416,523 |
-12,646,745,542 |
-11,839,286,440 |
|
Operating Income |
1,465,038,551 |
5,747,560,641 |
9,942,253,004 |
|
Finance Income |
597,014,691 |
488,161,438 |
422,784,739 |
|
Finance Expenses |
-49,433,237 |
-29,223,809 |
-103,715,829 |
|
Other Income |
8,172,792,647 |
14,580,276,844 |
13,933,071,633 |
|
Other Expenses |
-7,571,440,997 |
-7,823,383,714 |
-13,814,343,455 |
|
Non-Operating Expenses |
-2,700,000 |
-1,700,000 |
-1,900,000 |
|
Income Before Taxes |
2,611,271,655 |
12,961,691,400 |
10,378,150,092 |
|
Income Taxes Expenses |
-530,989,609 |
-2,702,497,079 |
-2,371,124,146 |
|
Net Income |
2,080,282,046 |
10,259,194,321 |
8,007,025,946 |
Cash Flows
|
|||
|
Unit : Korean Won |
As of
12/31/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Operating Activities Cash Flows |
50,825,630,018 |
-7,321,759,729 |
8,193,490,344 |
|
Net
Income |
2,080,282,046 |
10,259,194,321 |
8,007,025,946 |
|
Adjustment |
10,952,314,267 |
3,950,870,403 |
8,691,427,861 |
|
Changes
in Asset/ & Liability |
39,581,367,787 |
-18,876,045,366 |
-7,959,516,647 |
|
Interests
Received |
516,711,789 |
505,002,219 |
408,254,853 |
|
Interests
Paid |
-49,433,237 |
-20,385,669 |
103,715,829 |
|
Income
Taxes |
-2,255,612,634 |
-3,140,395,637 |
849,985,840 |
|
Cash Flows from Investing |
-6,699,736,033 |
-8,401,027,794 |
-3,459,700,271 |
|
Cash
Inflow from Investing |
4,435,490,127 |
4,464,135,310 |
11,058,608,762 |
|
Cash
Outflows for Investing |
-11,135,226,160 |
-12,865,163,104 |
-14,518,309,033 |
|
Cash Flows from Financing |
366,676,322 |
-2,673,781,102 |
-1,525,390,839 |
|
Cash
Inflows from Financing |
1,274,686,823 |
908,010,501 |
3,588,754,068 |
|
Cash
Outflows from Financing |
-908,010,501 |
-3,581,791,603 |
-5,114,144,907 |
|
Increase/Decrease in Cash |
44,492,570,307 |
-18,396,568,625 |
3,208,399,234 |
|
Cash at the Beginning of Year |
3,213,300,180 |
21,609,877,758 |
18,388,111,237 |
|
Cash at the End of Year |
47,705,545,600 |
3,213,300,180 |
21,609,877,758 |
|
Competitors |
POONGSAN CORPORATION 680-1, NAEGI-RI, POSEUNG-EUP, PYEONGTAEK-SI, GYEONGGI-DO, KOREA TEL:+82-31-650-7500 FAX:+82-31-650-7511 KOREA TRADING & INDUSTRIES CO., LTD. 1503-8, DADAE 1-DONG, SAHA-GU, BUSAN, KOREA TEL:+82-51-264-0024 FAX:+82-51-264-0027 WON IL CO., LTD. 4TH FL., WONIL BLDG., 231-4, NONHYEON
2-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-2631-1242~4 FAX:+82-2-2631-1245 |
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates-Domestic |
LS CORP.(110111-0003965) LS CABLE LTD(134111-0168357) LS MTRON LTD.(134111-0168349) LS-NIKKO COPPER INC.(230111-0058436) GAON CABLE CO., LTD(134111-0000567) E1 CORPORATION(110111-0381387) YESCO CO., LTD(110111-0290778) LS NETWORKS CORPORATION
LIMITED(180111-0044717) POUNTEK LTD.(151111-0022867) GLOBAL CABLE INC.(130111-0008797) ALUTEK LTD.(110111-1479909) JS CABLE CO., LTD(124311-0004327) YESCO SERVICE CO., LTD(110111-1030082) KOSPACE CO., LTD.(134411-0012243) CARBONIX, INC(171711-0036242) E&R INC.(164411-0005052) DAEHAN GM CORPORATION(110111-0613045) CASCO CO.,LTD(210111-0047938) LS GLOBAL INCORPORATED.,
LTD.(110111-3359985) LS ASSET MANAGEMENT CO.,
LTD.(110111-1896137) E1 CONTAINER TERMINAL CO.,
LTD.(120111-0432039) E1 LOGISTICS CORPORATION(124611-0257243) KJ MOTORRAD(110111-3740499) DONGBANG CITY GAS INDUSTRY CO.,
LTD.(141111-0011979) GRM CO., LTD(154611-0008012) OD CAMP CO., LTD.(110111-2839417) DAESUNG ELECTRIC CO., LTD.(110111-01415590 DELTECH CO., LTD.(134911-0010809) ACE R&A CO., LTD. (135111-0047493) TORECOM CORPORATION(135011-0054119) PLANET SYSTEM CO., LTD.(110111-1619745) RECYTECHKOREA CO., LTD.(161511-0044861) |
|
Affiliates-Overseas |
LS KONGJO(SHANDONG) CO., LTD-CHINA LS JEONRAM(MUSEOK) CO., LTD-CHINA LS MACHINERY(MUSEOK) CO., LTD-CHINA LS-VINA LS CABLE MALAYSIA LS CABLE(TENJIN) CO., LTD-CHINA LS CABLE AMERICA INC LS SANGMOO(SHANGHAI) CO., LTD-CHINA LS CABLE VIETNAM CO. LTD. LS ELECTRONIC-DEVICES QINGDAO CO. LTD. LEADING SOLUTION CABLE INDIA PVT LTD. LS CABLE UK LTD. LS AGRICULTURAL EQUIPMENT(QINGDAO)CO.LTD CYPRUS INVESTMENTS, INC. SUPERIOR ESEEX INC. LS INDUSTRIAL SYSTEMS(DAIRIAN) CO.,
LTD.-CHINA LS VINA I.S LS INDUSTRIAL SYSTEM ELECTRIC(SHANGHAI)
CO., LTD-CHINA LS INDUSTRIAL SYSTEMS(MUSEOK) CO.,
LTD.-CHINA LS I.S(MIDDLE EAST) FZE CASCO DALIAN PT E1-PERTAGAS |
|
Corporate Ownership |
LS CORP.(110111-0003965) LS INDUSTRIAL SYSTEMS CO.,
LTD.(110111-0520076) |
|
Major Shareholders |
LS INDUSTRIAL SYSTEMS CO.,
LTD.(110111-0520076) |
(Activity & Markets)
The Subject deals with the companies in China, Japan, USA and Europe.
|
Case No. |
Court |
Plaintiff(s)/ Creditor(s)/ Applicant(s) |
Defendant(s)/ Debtor(s)/ Respondent(s) |
Cause |
Amount (KRW) |
Status |
|
--- |
--- |
- |
The
Subject Company |
- |
8,000,000 |
Proceeding |
|
---- |
--- |
The
Subject Company |
- |
- |
50,000,000 |
Proceeding |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.74 |
|
UK Pound |
1 |
Rs.94.65 |
|
Euro |
1 |
Rs.70.79 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MNL |
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.