|
Report No. : |
309892 |
|
Report Date : |
28.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
NPC |
|
|
|
|
Registered Office : |
289, Haean-ro, Danwon-gu, Ansan-si, Gyeonggi-do |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
30.09.2014 |
|
|
|
|
Date of Incorporation : |
28.05.1965 |
|
|
|
|
Com. Reg. No.: |
134-81-26904 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Packaging Plastics and Shipping Containers |
|
|
|
|
No of Employees : |
289 |
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 Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
NPC (English Company
Name : NATIONAL PLASTIC COMPANY LIMITED) (Korean Company
Name : “엔피씨(주)”) |
|
Registered Address |
289, Haean-ro, Danwon-gu, Ansan-si,
Gyeonggi-do, Korea |
|
Building |
|
|
Zip Code |
425-852 |
|
Tel |
+82-31-361-8614 |
|
Fax |
+82-31-360-7501 |
|
E-mail |
jsoh@npc.co.kr |
|
Website |
www.nplastic.co.kr |
|
Trading Address |
289, Haean-ro, Danwon-gu, Ansan-si,
Gyeonggi-do, Korea (Old Address System : 834, Wonsi-dong,
Danwon-gu, Ansan-si, Gyeonggi-do, Korea) |
|
Tel |
+82-31-362-2851 |
|
Fax |
+82-31-360-7501 |
|
Other Address-Yeongnam Factory |
2484, Myeongseong-ri, Chodong-myeon, Miryang-si, Gyeongsangnam-do,
Korea |
|
Tel |
+82-55-391-0501 |
|
Fax |
+82-55-391-0502 |
|
Other Address-Cheongwon Factory |
469, Naedun-ri, Buki-myeon, Cheongwon-gun, Chungcheongbuk-do, Korea |
|
Tel |
+82-43-214-8906 |
|
Fax |
+82-43-214-8911 |
|
Other Address-Gunpo Office |
986-4, Dangjeong-dong, Gunpo-si,
Gyeonggi-do, Korea |
|
Tel |
+82-31-361-8614 |
|
Fax |
+82-31-360-7501 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Packaging Plastics and Shipping Containers |
|
Main Business |
Container, Plastic Pallet, Chair, Table, Waste Bin, Injection Mold |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
05/28/1965 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Pallets(24112505) |
|
Sell |
Non metallic bins(24112003) |
|
Sell |
Furniture(56101500) |
|
Sell |
Plastic sheet(30102515) |
|
Sell |
Tool chests or boxes or cabinets(24112401) |
|
Buy |
Polyvinyl chloride resin(13111025) |
|
Buy |
Acrylonitrile butadiene styrene
resin(13111004) |
|
Buy |
Low Density Polyethylene LDPE(13102018) |
|
Buy |
Polypropylene PP(13102022) |
|
Buy |
High Density Polyethylene HDPE(13102017) |
|
Buy |
Acrylonitrile butadiene styrene
ABS(13102001) |
CEO’s
|
Name |
Sung Se-Young |
|
Address |
|
|
Date of Birth |
01/1957 |
|
Title |
Co-President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
21,000,000,000 |
||||||||||||||||||||||||
|
Employees |
289 |
||||||||||||||||||||||||
|
Formation |
Listed Company (Korea Stock Exchange : 004250) as of 09/08/1969 |
||||||||||||||||||||||||
|
Bank Details |
Woori Bank Jeonbuk Bank-Banwol Branch |
||||||||||||||||||||||||
|
Corporate Registered No. |
110111-0212699 |
||||||||||||||||||||||||
|
Business Registered No. |
134-81-26904 |
||||||||||||||||||||||||
|
Permit & Licenses |
12/15/1997 ISO 9001 Int’l Trade No.: 750484 |
||||||||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||||||||
|
Company History |
05/28/1965 Incorporated as NATIONAL PLASTIC
COMPANY LIMITED 04/2009 Split off the par value to 500 KRW from 5,000 KRW 03/30/2011 Changed company name to the
present name from NATIONAL PLASTIC COMPANY LIMITED 12/12/2014 Acquired JEJU NATIONAL
PLASTIC CO., LTD.(224111-0011185) |
||||||||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
Co-President & CEO |
Mr. |
Sung Se-Young |
Korean |
1957.01. |
Dongkuk University, Korea |
|
Co-President & CEO |
Mr. |
Kim Jin-Kwan |
Korean |
1957.08. |
Hanyang University, Korea |
|
Director |
Mr. |
Choi Byung-Min |
Korean |
1960.08. |
Chunbuk National University, Korea |
|
Director |
Mr. |
Kim Jong-Hoon |
Korean |
1962.01. |
Kyunghee University, Korea |
|
Outside Director |
Mr. |
Yoon Seung-Yong |
Korean |
1957.09. |
- |
|
Outside Director |
Mr. |
Song Soon-Sik |
Korean |
1957.07. |
- |
|
Auditor |
Mr. |
Kim Dong-Kyun |
Korean |
1944.10. |
Seoul National University, Korea |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
225,838,903,474 |
261,017,493,875 |
13,961,852,883 |
|
|
(*)2013 |
279,025,182,323 |
253,084,614,481 |
16,275,154,311 |
|
(*)2012 |
258,785,157,611 |
232,589,394,027 |
12,502,372,304 |
|
(*)2011 |
247,174,854,239 |
229,279,245,365 |
12,881,379,822 |
|
(*)2010 |
211,661,633,140 |
196,158,224,007 |
17,295,339,233 |
|
2009 |
161,454,144,070 |
151,971,575,208 |
9,066,084,541 |
|
2008 |
161,171,288,946 |
136,803,689,358 |
6,308,286,942 |
(*)Figures are based
on the K-IFRS Accounting System.
Financial
Description
|
Authorized Capital(KRW) |
45,500,000,000 |
|
Paid-Up Capital(KRW) |
21,000,000,000 |
|
Total Issued Shares |
42,000,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
01/01/2014~09/30/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total Assets |
261,017,493,875 |
253,084,614,481 |
232,589,394,027 |
|
Current Assets |
102,845,900,823 |
93,301,796,485 |
85,784,001,626 |
|
Cash & Cash
Equivalents |
1,673,228,478 |
4,626,580,695 |
4,625,564,474 |
|
Current Financial
Instruments |
|
180,000,000 |
180,000,000 |
|
Trade Receivables |
74,889,602,674 |
67,081,640,299 |
60,903,786,678 |
|
Other Receivables |
75,855,762 |
89,003,149 |
197,622,776 |
|
Inventories |
22,764,348,470 |
20,697,963,570 |
19,469,739,751 |
|
Other Current Assets |
3,442,865,439 |
626,608,772 |
407,287,947 |
|
Non-Current Assets |
158,171,593,052 |
159,782,817,996 |
146,805,392,401 |
|
Non-Current Financial
Instruments |
19,753,382 |
19,753,382 |
19,753,382 |
|
Marketable Financial
Instruments |
527,134,125 |
534,837,000 |
806,262,610 |
|
Held-to-Maturity
Financial Assets |
112,855,000 |
119,020,000 |
125,130,000 |
|
Long-Term Trade Receivables |
19,084,922,580 |
19,135,837,368 |
19,145,646,435 |
|
Investment_Related
Companies |
47,916,950,520 |
51,137,870,520 |
50,882,939,163 |
|
Tangibles |
88,396,179,928 |
86,731,114,355 |
73,384,731,603 |
|
Intangibles |
1,625,484,517 |
1,611,127,371 |
1,284,998,208 |
|
Other Receivables |
488,313,000 |
493,258,000 |
788,011,000 |
|
Other Non-Current
Assets |
|
|
367,920,000 |
|
Total
Liabilities |
105,613,456,106 |
109,677,241,801 |
102,808,131,386 |
|
Current Liabilities |
82,705,000,086 |
70,459,306,220 |
70,915,936,420 |
|
Trade Payables |
18,450,272,289 |
22,576,041,288 |
16,373,066,962 |
|
Other Payables |
7,141,527,058 |
7,642,352,085 |
5,892,054,877 |
|
Short-Term Borrowings |
38,341,680,000 |
17,300,000,000 |
34,500,000,000 |
|
Current Portion of
Long-Term Debts |
12,387,090,395 |
15,974,160,445 |
9,186,874,282 |
|
Deferred Income Tax
Credit |
3,817,749,333 |
3,318,354,308 |
1,482,816,464 |
|
Derivatives |
160,196,626 |
302,250,020 |
467,415,066 |
|
Other Current
Liabilities |
2,406,484,385 |
3,346,148,074 |
3,013,708,769 |
|
Non-Current Liabilities |
22,908,456,020 |
39,217,935,581 |
31,892,194,966 |
|
Long-Term Borrowings |
20,996,840,000 |
37,381,450,000 |
23,450,989,994 |
|
Other Payables |
|
|
4,866,466,620 |
|
Provision for
Severance & Retirement |
219,543,401 |
153,340,679 |
86,103,043 |
|
Deferred Income Tax
Credit |
1,692,072,619 |
1,683,144,902 |
3,488,635,309 |
|
Capital Stock |
21,000,000,000 |
21,000,000,000 |
21,000,000,000 |
|
Capital Surplus |
18,409,192,918 |
17,621,849,699 |
17,621,849,699 |
|
Others |
-258,191,234 |
-395,399,000 |
-395,399,000 |
|
Installments |
71,704,332 |
77,543,111 |
47,187,383 |
|
Profit Surplus |
116,181,331,753 |
105,103,378,870 |
91,507,624,559 |
|
Total Equity |
155,404,037,769 |
143,407,372,680 |
129,781,262,641 |
|
Liab. & Shareholder’s Equity |
261,017,493,875 |
253,084,614,481 |
232,589,394,027 |
Income
Statement
|
|||
|
Unit : Korean Won |
01/01/2014~09/30/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
225,838,903,474 |
279,025,182,323 |
258,785,157,611 |
|
Cost of Sold Goods |
193,794,821,560 |
239,140,912,448 |
218,564,515,235 |
|
Gross Profit |
32,044,081,914 |
39,884,269,875 |
40,220,642,376 |
|
Selling & Admin. Expenses |
19,137,815,087 |
25,559,174,439 |
25,648,648,523 |
|
Operating Income |
12,906,266,827 |
14,325,095,436 |
14,571,993,853 |
|
Other Operating Income |
460,354,602 |
5,223,309,700 |
1,345,339,434 |
|
Other Operating Expenses |
229,223,370 |
507,827,664 |
194,776,789 |
|
Finance Income |
4,962,451,358 |
5,021,670,304 |
4,351,217,443 |
|
Finance Expenses |
2,325,421,216 |
3,344,955,085 |
4,440,470,984 |
|
Profits from
Investment on Related Companies |
2,659,140,000 |
-1,084,973,995 |
|
|
Income Before Taxes |
18,433,568,201 |
19,632,318,696 |
15,633,302,957 |
|
Income Taxes Expenses |
4,471,715,318 |
3,357,164,385 |
3,357,164,385 |
|
Net Income |
13,961,852,883 |
16,275,154,311 |
12,502,372,304 |
Cash Flows
|
|||
|
Unit : Korean Won |
01/01/2014~09/30/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Operating Activities Cash Flows |
6,836,060,514 |
20,522,593,446 |
21,584,909,908 |
|
Net Income |
13,961,852,883 |
16,275,154,311 |
12,502,372,304 |
|
Adjustment |
14,309,411,902 |
12,887,723,314 |
15,238,861,024 |
|
Changes in Asset/ & Liability |
-17,351,205,016 |
-3,598,803,614 |
145,306,413 |
|
Interests Received |
29,036,054 |
56,602,913 |
154,402,342 |
|
Interests Paid |
-2,217,903,735 |
-3,274,445,468 |
-3,799,353,739 |
|
Dividends Received |
2,317,765,058 |
1,512,040,810 |
855,911,310 |
|
Income Taxes |
-4,212,896,632 |
-3,335,678,820 |
-3,512,589,746 |
|
Cash Flows from Investing |
-9,096,919,086 |
-16,337,140,144 |
-25,845,821,780 |
|
Cash Flows from Financing |
-692,493,645 |
-4,184,437,081 |
-4,792,240,000 |
|
Increase/Decrease in Cash |
-2,953,352,217 |
1,016,221 |
-9,053,151,872 |
|
Cash at the Beginning of Year |
4,626,580,695 |
4,625,564,474 |
13,678,716,346 |
|
Cash at the End of Year |
1,673,228,478 |
4,626,580,695 |
4,625,564,474 |
|
Main Products & Services |
Container, Plastic Pallet, Chair, Table, Waste Bin, Injection Mold |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
LOTTE CHEMICAL CORPORATION(110111-0193196) |
|
Customers |
|
|
Competitors |
GOLD LINE PALLETECH CO., LTD. SAN 120-8, DAEJEON-RI, HAPDEOK-EUP,
DANGJIN-GUN, CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-363-4800 FAX:+82-41-363-4803 DEOK-U CO., LTD. 302-1, DODANG-RI, DOAN-MYEON,
JEUNGPYEONG-GUN, CHUNGCHEONGBUK-DO, KOREA TEL:+82-43-836-8862~3 FAX:+82-43-836-8500 TAEGU PLASTIC CO., LTD. 181, CHEONPYEONG-RI, GASAN-MYEON,
CHILGOK-GUN, GYEONGSANGBUK-DO, KOREA TEL:+82-54-971-4441 FAX:+82-54-971-4447 |
|
Affiliates |
KOREA PALLET POOL CO., LTD.(110111-0408727) (33.82% held by the subject company) |
|
Overseas Office |
|
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
|
|
Subsidiary |
NATIONAL MOLTECH CO., LTD.(180111-0152809) (100.00% held by the subject company) NATIONAL CLEAN CO., LTD.( 170111-0414722) (92.50% held by the subject company) SAMKWANG CO., LTD.(KOREA) (100.00% held by the subject company) SANSENG NATIONAL PLASTIC PTE LTD.(SINGAPORE) (100.00% held by the subject company) |
|
Corporate Ownership |
|
|
Major Shareholders |
|
|
Cooperative Enterprise |
|
|
Sales/ Unit :Mil KRW |
2012 |
2011 |
2010 |
|
Export |
25,088 |
20,578 |
14,437 |
|
Domestic |
233,697 |
226,597 |
197,225 |
|
Total |
258,785 |
247,175 |
211,662 |
Not Available.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.79 |
|
|
1 |
Rs. 95.42 |
|
Euro |
1 |
Rs. 69.28 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DPT |
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.