|
Report No. : |
308658 |
|
Report Date : |
17.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
GTC TECHNOLOGY
KOREA CO., LTD. |
|
|
|
|
Registered Office : |
19, Gukhoe-daero 70-gil, Yeongdeungpo-gu,
Seoul, Korea, Rm. 903, Daeha Bldg., 153-759 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
06.12.2007 |
|
|
|
|
Com. Reg. No.: |
119-86-03509 |
|
|
|
|
Legal Form : |
Company Limited By Shares |
|
|
|
|
Line of Business : |
·
Civil Engineering Services, Construction
Technology Services ·
Manufacture of Chemical Plants Equipment’s |
|
|
|
|
No. of Employees : |
42 |
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 – 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 |
GTC TECHNOLOGY
KOREA CO., LTD. (Korean Company
Name : “지티씨테크놀로지코리아(주)”) |
|
Registered Address |
19, Gukhoe-daero 70-gil, Yeongdeungpo-gu,
Seoul, Korea |
|
Building |
Rm. 903, Daeha Bldg. |
|
Zip Code |
153-759 |
|
Tel |
+82-2-2028-7116 |
|
Fax |
+82-2-2028-7111 |
|
E-mail |
redskyws@yahoo.co.kr |
|
Website |
www.gtctech.com;www.gtchouston.com |
|
Trading Address |
Rm. 903, Daeha Bldg., 19, Gukhoe-daero
70-gil, Yeongdeungpo-gu, Seoul, Korea (Old Address System : Rm. 903, Daeha Bldg.,
14-11, Yeouido-dong, Yeongdeungpo-gu, Seoul, Korea) |
|
Tel |
+82-2-2025-8411 |
|
Fax |
+82-2-2025-8419 |
|
Other Address |
468-1, Sapo-ri, Yeonsan-myeon, Nonsan-si,
Chungcheongnam-do, Korea |
|
Tel |
|
|
Fax |
|
|
Type |
Export |
|
Industry |
Civil Engineering Services, Construction Technology Services Manufacture of Chemical Plants Equipments |
|
Main Business |
Chemical Process Licensor, Basic Process Design, Development Research
& Process Equipment, Chemical, Catalyst |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
12/06/2007 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Technology Licensing |
|
Sell |
Engineering Services |
|
Sell |
Plumbing system construction(72102303) |
|
Sell |
Commercial or industrial construction(72131600) |
|
Sell |
Process Equipment Technology |
|
Name |
Pinti Wang |
|
Address |
1623, Kellywood Oaks DR KT, TX 77450-438
USA |
|
Date of Birth |
01/21/1952 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
USA |
|
Capital (KRW) |
4,870,000,000 |
|||||||||
|
Employees |
42 |
|||||||||
|
Formation |
Co., Ltd by shares Foreign Direct Investment Corporation |
|||||||||
|
Bank Details |
Citibank, Korea Shinhan Bank Korea Exchange Bank |
|||||||||
|
Corporate Registered No. |
110111-3800152 |
|||||||||
|
Business Registered No. |
119-86-03509 |
|||||||||
|
Permit & Licenses |
N/A |
|||||||||
|
Shareholder Position |
|
|||||||||
|
Company History |
12/06/2007 Incorporated as the present name 12/24/2007 Registered as a Foreign Direct
Investment Corporation 07/31/2008 Increased the authorized shares
to 400,000 shares from 40,000 shares 11/26/2008 Increased capital to 1,050,000,000
KRW from 850,000,000 KRW 01/13/2010 Increased the authorized shares
to 2,000,000 shares from 400,000 shares 01/14/2010 Increased capital to
3,650,000,000 KRW from 1,050,000,000 KRW 03/04/2010 Increased capital to
4,870,000,000 KRW from 3,650,000,000 KRW 05/26/2010 Moved to Rm. 1206, Jei
Platz, 459-11, Gasan-dong, Geumcheon-gu, Seoul, Korea from Rm.514, 426-5, Gasan-dong, Geumcheon-gu, Seoul, Korea 06/20/2013 Moved to the present HQ address from Rm. 1206, Jei Platz,
459-11, Gasan-dong, Geumcheon-gu, Seoul, Korea |
|||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Pinti Wang |
Male |
USA |
12/06/2007 |
|
Director |
Mr. |
Daniel Perisi |
Male |
Italian |
08/08/2014 |
|
Director |
Mr. |
Jan Karlos Pajiani |
Male |
Italian |
02/24/2014 |
|
Director |
Mr. |
Oh Pil-Hong |
Male |
Korean |
10/13/2014 |
|
Auditor |
Mr. |
Edward Chiri Chen |
Male |
USA |
03/20/2010 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
40,091,938,285 |
28,451,248,513 |
4,274,474,708 |
|
|
2012 |
38,352,413,996 |
28,517,830,420 |
4,172,191,926 |
|
2011 |
35,754,016,142 |
31,383,791,957 |
4,196,103,251 |
|
2010 |
20,639,015,658 |
27,031,100,421 |
3,386,070,005 |
|
2009 |
9,860,300,000 |
8,611,529,000 |
1,190,371,000 |
|
2008 |
8,632,263,000 |
5,122,011,000 |
1,293,101,000 |
|
Authorized Capital(KRW) |
10,000,000,000 |
|
Paid-Up Capital(KRW) |
4,870,000,000 |
|
Total Issues Shares |
974,000 |
|
Balance Sheet |
|||
|
Unit : Million Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Total Assets |
28,451,248,513 |
28,517,830,420 |
31,383,791,957 |
|
Current Assets |
23,583,417,449 |
24,228,572,742 |
26,888,731,686 |
|
-Quick Assets |
20,266,509,820 |
15,764,031,314 |
14,708,534,192 |
|
-Inventories |
3,316,907,629 |
8,464,541,428 |
12,180,197,494 |
|
Fixed Assets |
4,867,831,064 |
4,289,257,678 |
4,495,060,271 |
|
-Investment |
44,694,720 |
44,694,720 |
44,694,720 |
|
-Tangibles |
4,288,451,705 |
3,716,075,023 |
4,028,722,315 |
|
-Intangibles |
150,453,039 |
182,387,335 |
128,662,636 |
|
-Others |
384,231,600 |
346,100,600 |
292,980,600 |
|
Total Liabilities |
6,992,916,724 |
11,333,973,339 |
16,530,686,802 |
|
Current Liabilities |
6,967,045,164 |
11,226,190,300 |
16,488,053,149 |
|
Fixed Liabilities |
25,871,560 |
107,783,039 |
42,633,653 |
|
Capital Stock |
4,870,000,000 |
4,870,000,000 |
4,870,000,000 |
|
Capital Surplus |
- |
- |
|
|
Profit Surplus |
16,588,331,789 |
12,321,747,247 |
9,998,885,488 |
|
Capital Adjustment |
- |
-7,890,166 |
-15,780,333 |
|
Total Equity |
21,458,331,789 |
17,183,857,081 |
14,853,105,155 |
|
Liab. & Shareholder’s Equity |
28,451,248,513 |
28,517,830,420 |
31,383,791,957 |
|
Current
Liabilities |
6,967,045,164 |
11,226,190,300 |
16,488,053,149 |
|
Trade Payables |
3,305,262,739 |
5,402,898,633 |
5,894,852,607 |
|
Withholdings |
- |
745,095 |
1,112,763 |
|
Advance Receipts |
2,898,069,626 |
5,011,926,287 |
9,505,627,244 |
|
VAT Withhold |
57,808,893 |
- |
|
|
Accrued Income Tax |
705,903,906 |
810,620,285 |
1,086,460,535 |
|
Fixed
Liabilities |
25,871,560 |
107,783,039 |
42,633,653 |
|
Provision for Severance & Retirement |
25,871,560 |
107,783,039 |
42,633,653 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Sales |
40,091,938,285 |
38,352,413,996 |
35,754,016,142 |
|
Cost of Sold Goods |
30,015,380,912 |
30,451,852,651 |
28,718,916,246 |
|
Gross Profit |
10,076,557,373 |
7,900,561,345 |
7,035,099,896 |
|
Selling & Admin. Expenses |
4,281,086,068 |
2,065,225,533 |
1,710,971,237 |
|
Operating Income |
5,795,471,305 |
5,835,335,812 |
5,324,128,659 |
|
Non-Operating Income |
352,890,742 |
208,764,666 |
1,062,122,181 |
|
Non-Operating Expenses |
655,565,303 |
742,732,432 |
943,260,981 |
|
Income Before Taxes |
5,492,796,744 |
5,301,368,046 |
5,442,989,859 |
|
Income Taxes Expenses |
1,218,322,036 |
1,129,176,120 |
1,246,886,608 |
|
Net Income |
4,274,474,708 |
4,172,191,926 |
4,196,103,251 |
|
Cash Flows |
|||
|
Unit : Million Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Cash Flows from Operating |
7,616,637,494 |
391,593,468 |
5,307,159,028 |
|
-Net Income |
4,274,474,708 |
4,172,191,926 |
4,196,103,251 |
|
-Exp. without Cash Outflow |
1,385,240,227 |
1,273,963,142 |
983,946,251 |
|
-Revenue without Cash Inflows |
-10,686,553 |
-16,863,263 |
-257,568,539 |
|
-Changes in Asset/ & Liability |
1,967,609,112 |
-5,037,698,337 |
384,678,065 |
|
Cash Flows from Investing |
-5,792,622,164 |
-588,758,493 |
-147,234,530 |
|
-Cash Inflow from Investing |
582,890,599 |
95,000,000 |
624,770,000 |
|
-Cash Outflows for Investing |
-6,375,512,763 |
-683,758,493 |
-772,004,530 |
|
Cash Flows from Financing |
- |
-1,841,440,000 |
-3,860,040,000 |
|
-Cash Inflows from Financing |
- |
- |
4,000,985,002 |
|
-Cash Outflows from Financing |
- |
-1,841,440,000 |
-7,861,025,002 |
|
Increase/Decrease in Cash |
1,824,015,330 |
-2,038,605,025 |
1,299,884,498 |
|
Cash at the Beginning of Year |
397,693,296 |
2,436,298,321 |
1,136,413,823 |
|
Cash at the End of Year |
2,221,708,626 |
397,693,296 |
2,436,298,321 |
|
Main Products & Services |
Technology Licensing Engineering Services Process Equipment Technology Chemicals & Catalysts Online Heater Cleaning Technical Services |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
GS-CALTEX CORPORATION(110111-0078819) |
|
Competitors |
TOYO ENGINEERING KOREA LIMITED TOYO KOREA BLDG., 677-17, YEOKSAM 1-DONG,
GANGNAM-GU, SEOUL, KOREA TEL:+82-2- 2189-1642~3 FAX:+82-2- 2189-1887 DAEWOO ENGINEERING CO., LTD. 9-3, SUNAE-DONG, BUNDANG-GU, SEONGNAM-SI,
GYEONGGI-DO, KOREA (P.O.BOX 20, BUNDANG) TEL:+82-31-738-0114 FAX:+82-31-738-0115 HYUNDAI ENGINEERING CO., LTD. 2~5 FL., HYUNDAI 41 TOWER, 917-9, MOK
1-DONG, YANGCHEON-GU, SEOUL, KOREA TEL:+82-2-2166-8114 FAX:+82-2-2647-8004 |
|
Affiliates |
GTC TECH. INTERNATIONAL LP GTC TECH. US LLC GTC TECH. MEXICO S.DE.CV GTC(BEIJING) TECH. INC. GTC TECH. SINGAPORE GTC TECH. INDIA GTC TECH. EUROPE SRO |
|
Overseas Office |
BOZEMAN, MONTANA GTC RESEARCH AND DEVELOPMENT 910 TECHNOLOGY BOULEVARD, SUITE F BOZEMAN,
MONTANA 59718 USA TEL:+1-406-582-7417 FAX:+1-406-922-6440 DALLAS, TEXAS GTC PROCESS EQUIPMENT TECHNOLOGY 1333 CORPORATE DRIVE, SUITE 320 IRVING,
TEXAS 75038 USA TEL:+1-972-887-3802 FAX:+1-972-887-3826 CHINA GTC (BEIJING) TECHNOLOGY INC. ROOM 2801 BUILDING C OF KAIXUANCHENG NO. 170 BEIYUAN
ROAD, CHAOYANG DISTRICT BEIJING, CHINA 100101 TEL:+86-10-5823-5297 FAX:+86-10-5823-6143 SINGAPORE GTC PROCESS TECHNOLOGY (SINGAPORE) PTE.
LTD. 3 SCIENCE PARK DRIVE, SUITE 01-08/09 THE
FRANKLIN BUILDING SINGAPORE, 118223 TEL:+65-6872-9380 FAX:+65-6776-7282 CZECH REPUBLIC GTC TECHNOLOGY EUROPE S.R.O. PRIKOP 6 BRNO, 60200 CZECH REPUBLIC TEL:+420-511-118-000 FAX:+420-545-174-601 MEXICO GTC MEXICO, S. DE R.L. DE C.V. CIRCUITO BALVANERA NO. 20 FRACCIONAMIENTO
INDUSTRIAL BALVANERA CORREGIDORA, QUERETARO MEXICO, C.P. 76920 TEL:+52-442-1-95-54-53
FAX:+52-442-1-95-54-53 |
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
|
|
Subsidiary |
|
|
Corporate Ownership |
GTC TECHNOLOGY US, LLC 1001 S. DAIRY ASHFORD, SUITE 500 HOUSTON,
TEXAS 77077 USA TEL:+1-281-597-4800 FAX:+1-281-597-0942 |
|
Major Shareholders |
|
|
Cooperative Enterprise |
-Insured company LIG INSURANCE CO., LTD.(110111-0017859) |
The Subject deals
with the companies in USA.
No.
------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.20 |
|
|
1 |
Rs.96.00 |
|
Euro |
1 |
Rs.71.00 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.