|
Report Date : |
03.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
LAPP KOREA LLC. |
|
|
|
|
Registered Office : |
759-5, Geumui-ri, Jangan-myeon,
Hwaseong-si, Gyeonggi-do, Korea |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
30.09.2013 |
|
|
|
|
Date of Incorporation : |
23.08.2011 |
|
|
|
|
Com. Reg. No.: |
301-81-44555 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacture of Other Insulated Wire and Cable |
|
|
|
|
No of Employees : |
91 |
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 : |
Slow but correct |
|
|
|
|
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 |
|
Company Name |
LAPP KOREA LLC. (Korean Company
Name : “(유)랍코리아”) |
|
Registered Address |
759-5, Geumui-ri, Jangan-myeon, Hwaseong-si,
Gyeonggi-do, Korea |
|
Building |
G-block, Jangan Local Industrial Complex |
|
Zip Code |
445-941 |
|
Tel |
+82-31-358-9621 |
|
Fax |
+82-31-358-9630 |
|
E-mail |
gyusub.so@lappgroup.com |
|
Website |
www.lappkorea.com |
|
Trading Address |
G-block, Jangan Local Industrial Complex,
759-5, Geumui-ri, Jangan-myeon, Hwaseong-si, Gyeonggi-do, Korea (Old Address System : G-block, Jangan
Local Industrial Complex, 759-5, Gumui-ri, Jangan-myeon, Hwaseong-si,
Gyeonggi-do, Korea) |
|
Tel |
+82-31-358-9621 |
|
Fax |
+82-31-358-9630 |
|
Other Address |
|
|
Tel |
|
|
Fax |
|
|
Type |
Export/Import |
|
Industry |
Manufacture of Other Insulated Wire and Cable |
|
Main Business |
Cable, Connectors |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
08/23/2011 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Power cable(26121629) |
|
Sell |
Connectors(31163100) |
|
Name |
Song Sang-Gap(Kevin) |
|
Address |
Suite 102-1507, 43-4, Yeouido-dong,
Yeongdeungpo-gu, Seoul, Korea |
|
Date of Birth |
01/08/1963 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
8,418,300,000 |
|||||||||
|
Employees |
91 |
|||||||||
|
Formation |
Limited Liability Company Foreign Direct Investment Corporation |
|||||||||
|
Bank Details |
Kookmin Bank Landesbank Baden-Wurttemberg-Seoul Branch |
|||||||||
|
Corporate Registered No. |
134814-0001333(From 150111-0047618) |
|||||||||
|
Business Registered No. |
301-81-44555 |
|||||||||
|
Permit & Licenses |
11/2003 ISO 9001 12/2009 ISO 9001 Int’l Trade No.: 23102253 |
|||||||||
|
Shareholder Position |
|
|||||||||
|
Company History |
07/01/2000 Incorporated as Thomas LAPP
Cable Korea Co., Ltd. 07/01/2005 Changed company name to LAPP KOREA
CO., LTD. 09/13/2006 Moved to the present HQ address
from 20-4, Yeocheon-ri, Ochang-eup, Cheongwon-gun, Chungbuk,
Korea 12/05/2008 Increased the authorized shares
to 100,000 shares from 10,000 shares 04/26/2011 Increased capital to
8,418,300,000 KRW from 7,048,250,000 KRW 08/23/2011 Changed company type to Limited
Liability Company from Private Company with Limited Liability, and
incorporated as the present name again |
|||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Song Sang-Gap(Kevin) |
Male |
Korean |
12/05/2008 |
|
Director |
Mr. |
Alois Michael Kollet |
Male |
German |
09/10/2006 |
|
Director |
Mr. |
Richard Lee |
Male |
Singaporean |
07/31/2012 |
|
Auditor |
Mr. |
Vernardo Bogle |
Male |
German |
05/03/2007 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
63,771,734,000 |
33,038,411,000 |
5,355,354,000 |
|
|
09/2012 |
68,954,743,000 |
34,727,558,000 |
5,630,902,000 |
|
09/2011 |
79,077,785,000 |
33,006,125,000 |
7,236,738,000 |
|
09/2010 |
66,700,082,157 |
31,221,461,676 |
4,141,353,490 |
|
09/2009 |
33,726,782,420 |
20,203,618,000 |
1,113,523,667 |
|
09/2008 |
31,106,568,816 |
19,942,908,297 |
576,588,229 |
|
09/2007 |
25,143,031,339 |
13,135,680,089 |
657,745,974 |
|
09/2006 |
20,275,196,116 |
14,026,655,005 |
50,989,429 |
|
Authorized Capital(KRW) |
55,000,000,000 |
|
Paid-Up Capital(KRW) |
8,418,300,000 |
|
Total Issued Shares |
15,306 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 09/30/2013 |
As of 09/30/2012 |
As of 09/30/2011 |
|
Total Assets |
33,038,411,000 |
34,727,558,000 |
33,006,125,000 |
|
Current Assets |
21,700,054,000 |
26,200,484,000 |
25,739,062,000 |
|
-Quick Assets |
- |
- |
- |
|
-Inventories |
- |
- |
- |
|
Fixed Assets |
11,338,357,000 |
8,527,074,000 |
7,267,063,000 |
|
-Investment |
- |
- |
- |
|
-Tangibles |
- |
- |
- |
|
-Intangibles |
- |
- |
- |
|
Total Liabilities |
11,889,672,000 |
17,434,172,000 |
16,743,641,000 |
|
Current Liabilities |
11,889,672,000 |
17,433,202,000 |
16,335,264,000 |
|
Fixed Liabilities |
- |
970,000 |
408,377,000 |
|
Capital Stock |
8,418,300,000 |
8,418,300,000 |
8,418,300,000 |
|
Capital Surplus |
- |
- |
- |
|
Profit Surplus |
12,730,439,000 |
8,875,086,000 |
7,844,184,000 |
|
Capital Adjustment |
- |
- |
- |
|
Total Equity |
21,148,739,000 |
17,293,386,000 |
16,262,484,000 |
|
Liab. & Shareholder’s Equity |
33,038,411,000 |
34,727,558,000 |
33,006,125,000 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 09/30/2013 |
As of 09/30/2012 |
As of 09/30/2011 |
|
Sales |
63,771,734,000 |
68,954,743,000 |
79,077,785,000 |
|
Cost of Sold Goods |
49,480,585,000 |
54,145,710,000 |
62,959,678,000 |
|
Gross Profit |
14,291,149,000 |
14,809,033,000 |
16,118,107,000 |
|
Selling & Admin. Expenses |
7,676,196,000 |
7,422,895,000 |
7,115,282,000 |
|
Operating Income |
6,614,953,000 |
7,386,138,000 |
9,002,825,000 |
|
Non-Operating Income |
906,168,000 |
1,269,760,000 |
1,402,314,000 |
|
Non-Operating Expenses |
854,529,000 |
1,677,045,000 |
1,634,136,000 |
|
Income Before Taxes |
6,666,592,000 |
6,978,853,000 |
8,771,003,000 |
|
Income Taxes Expenses |
1,311,238,000 |
1,347,951,000 |
1,534,265,000 |
|
Net Income |
5,355,354,000 |
5,630,902,000 |
7,236,738,000 |
|
Main Products & Services |
Cable, Connectors |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
|
|
Competitors |
LS CABLE LTD.(134111-0168357) 12TH FL., LS TOWER, 1026-6, HOGYE 1-DONG,
DONGAN-GU, ANYANG-SI, GYEONGGI-DO, KOREA TEL:+82-2-2189-9114 FAX:+82-2-2189-9259 TAIHAN ELECTRIC WIRE
CO.,LTD(110111-0035835) 113-119, SIHEUNG 1-DONG, GEUMCHEON-GU,
SEOUL 153-839 KOREA TEL:+82-2-890-9114 FAX: +82-2-892-9387 GAON CABLE CO.,LTD.(134111-0000567) 166, GEUMJEONG-DONG, GUNPO-SI, GYEONGGI-DO,
KOREA TEL:+82-31-459-6222 FAX:+82-31-454-1916 |
|
Affiliates |
U.I. LAPP GMBH LAPP SERVICE GMBH LAPP GMBH KABELWERKE LAPP LOGISTICS PTE., LTD. |
|
Corporate Ownership |
LAPP HOLDING AG LAPP HOLDING ASIA PTE., LTD. |
|
Major Shareholders |
|
|
Cooperative Enterprise |
-Licensing Agreement on brand with LAPP ENGINEERING & CO. -Insured Company HYUNDAI MARINE & FIRE INSURANCE CO., LTD.(110111-0035893) SAMSUNG FIRE & MARINE INSURANCE CO., LTD.(110111-0005078) |
The Subject deals
with the companies Germany and Singapore.
Not Available.
-----
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.28 |
|
|
1 |
Rs.98.38 |
|
Euro |
1 |
Rs.76.30 |
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.