|
Report No. : |
302593 |
|
Report Date : |
08.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
VITZRO TECH CO.,
LTD. |
|
|
|
|
Registered Office : |
327, Byeolmang-ro, Danwon-gu, Ansan-si,
Gyeonggi-Do, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
07.01.2014 |
|
|
|
|
Date of Incorporation : |
03.01.1968 |
|
|
|
|
Com. Reg. No.: |
134-81-08395 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Electrical Apparatuses for Switching, Protecting and Connecting
Electrical Circuits Used in Power Distribution Systems. |
|
|
|
|
No. of Employee : |
320 |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Korea (South) |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
KOREA (SOUTH) 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 |
VITZRO TECH CO.,
LTD. |
|
Registered Address |
327, Byeolmang-ro, Danwon-gu, Ansan-si,
Gyeonggi-do, Korea (Old Address System : 605-2,
Seonggok-dong, Danwon-gu, Ansan-si, Gyeonggi-do, Korea) |
|
Building |
|
|
Zip Code |
425-833 |
|
Tel |
+82-31-489-2000 |
|
Fax |
+82-31-492-2216 |
|
E-mail |
|
|
Website |
|
|
Trading Address |
233-3, Seongsu 2-ga 1-dong, Seongdong-gu,
Seoul, Korea |
|
Tel |
+82-2-460-2000 |
|
Fax |
+82-2-3436-1900 |
|
Other Address |
|
|
Tel |
|
|
Fax |
|
|
Type |
Export |
|
Industry |
Manufacture of Electrical Apparatuses for Switching, Protecting and
Connecting Electrical Circuits Used in Power Distribution Systems |
|
Main Business |
Vacuum Circuit Breaker, Automatic Transfer Switch, Lightning Arrester |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
01/30/1968 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Power relays(39121514) |
|
Sell |
Distribution and Control centers and
accessories(39121100) |
|
Sell |
Vacuum switches(39121548) |
|
Sell |
Circuit breakers(39121601) |
|
Sell |
Power relays(39121514) |
|
Sell |
Surge suppressers(39121610) |
|
Sell |
Power relays(39121514) |
|
Sell |
Electrical insulators(39121721) |
|
Buy |
Magnetic coils(39121010) |
|
Buy |
Diodes(32111500) |
|
Buy |
Capacitors(32121500) |
|
Buy |
Resistors(32121600) |
|
Buy |
Central processing unit CPU
processors(43201503) |
|
Buy |
Liquid crystal display LCD panels or monitors(43211902) |
|
Buy |
Silicone VMQ and PMQ and PVMQ(13101708) |
|
Buy |
Power supply transformers(39121002) |
|
Buy |
Magnetic coils(39121010) |
|
Buy |
Inductors(32121702) |
|
Buy |
Fluid and gas regulators(40142200) |
|
Buy |
Integrated circuits(32101600) |
|
Buy |
Electrical insulators(39121721) |
|
Buy |
Light emitting diodes LEDs(32111503) |
|
Name |
Yoo Byung-Un |
|
Address |
|
|
Date of Birth |
02/07/1953 |
|
Title |
Co-President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
6,740,658,500 |
||||||||||||
|
Employees |
320 |
||||||||||||
|
Formation |
Listed Company (KOSDAQ : 042370) as of 08/03/2000 |
||||||||||||
|
Bank Details |
Industrial Bank of Korea |
||||||||||||
|
Corporate Registered No. |
110111-0086169 |
||||||||||||
|
Business Registered No. |
134-81-08395 |
||||||||||||
|
Permit & Licenses |
Int’l Trade No.: 475824 |
||||||||||||
|
Shareholder Position |
|
||||||||||||
|
Company History |
01/30/1968 Incorporated as Junglip Electri
Work Co., Ltd. 06/1989 Changed company name to Kwangmyung
Kijeon Co., Ltd. 02/2000 Changed company name to the present
name 11/2006 Awarded US$10 Million Export Top
Prize 08/2008 Designated a s an INNO-BIZ Company |
||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
Co-President & CEO |
Mr. |
Yoo Byung-Un |
Korean |
1953.02.07 |
Busan Technical College, Korea |
|
Co-President & CEO |
Mr. |
Jang
Soon-Sang |
Korean |
1944.07. |
Hanyang
University, Korea |
|
Co-President & CEO |
Dr. |
Lee Byung-Ho |
Korean |
1966.03.23 |
Yonsei University, Korea |
|
Director |
Mr. |
Yoon Soon-Il |
Korean |
1961.11.10 |
Hongik University, Korea |
|
Auditor |
Mr. |
Seo Kwang-Cheol |
Korean |
1968.05. |
Chungnam National University, Korea |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
25,602,559,661 |
98,132,672,061 |
884,554,610 |
|
|
(*)06/2014 |
21,811,477,039 |
88,102,381,006 |
396,530,942 |
|
(*)03/2014 |
97,884,650,269 |
89,285,060,431 |
2,170,413,641 |
|
(*)03/2013 |
85,361,498,973 |
91,326,941,125 |
3,066,936,586 |
|
(*)03/2012 |
84,750,368,449 |
86,873,008,137 |
2,397,715,149 |
|
(*)03/2011 |
82,087,604,674 |
78,979,702,707 |
1,724,788,678 |
|
03/2010 |
63,053,357,456 |
50,371,332,355 |
3,617,985,320 |
|
03/2009 |
56,858,584,471 |
42,667,176,045 |
2,549,346,334 |
|
03/2008 |
51,405,612,984 |
41,748,258,033 |
789,657,086 |
|
03/2007 |
12,977,357,202 |
39,122,770,311 |
1,232,679,506 |
|
03/2006 |
41,408,879,253 |
34,202,479,077 |
-9,232,786,904 |
(*)Figures are based
on the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
8,000,000,000 |
|
Paid-Up Capital(KRW) |
6,740,658,500 |
|
Total Issues Shares |
13,481,317 |
|
Unit : Korean Won |
07/01/2014~09/30/2014 |
04/01/2014~06/30/2014 |
04/01/2013~03/31/2014 |
|
Total Assets |
98,132,672,061 |
88,102,381,006 |
89,285,060,431 |
|
Current Assets |
50,401,537,993 |
43,850,241,917 |
47,044,413,093 |
|
Cash & Cash
Equivalents |
188,676,262 |
176,132,849 |
142,419,344 |
|
Current Financial
Instruments |
210,659,291 |
109,201,343 |
109,174,219 |
|
Marketable Financial
Instruments |
1,605,000 |
1,605,000 |
40,555,000 |
|
Trade Receivables
& Other Receivables |
42,118,219,971 |
35,296,758,484 |
39,815,502,145 |
|
Inventories |
7,097,599,443 |
7,774,850,945 |
6,551,456,396 |
|
Other Current Assets |
784,778,026 |
491,693,296 |
385,305,989 |
|
Non-Current Assets |
47,731,134,068 |
44,252,139,089 |
42,240,647,338 |
|
Non-Current Financial
Instruments |
8,020,000 |
8,020,000 |
8,020,000 |
|
Marketable Financial
Instruments |
620,998,520 |
620,998,520 |
622,088,520 |
|
Long-Term Trade
Receivables & Other Receivables |
580,234,067 |
428,794,067 |
417,494,067 |
|
Investment_Related
Companies |
16,557,944,925 |
15,634,262,444 |
15,824,662,304 |
|
Tangibles |
28,472,555,337 |
26,159,134,322 |
24,345,805,890 |
|
Intangibles |
1,491,381,219 |
1,400,929,736 |
1,022,576,557 |
|
Total Liabilities |
43,260,198,032 |
34,601,188,982 |
36,082,375,945 |
|
Current Liabilities |
33,552,627,320 |
25,137,616,451 |
26,535,088,394 |
|
Trade Payables &
Other Payables |
13,352,272,427 |
12,936,659,383 |
14,340,507,868 |
|
Short-Term Borrowings |
18,628,130,926 |
10,697,698,288 |
10,641,146,506 |
|
Provisions |
1,014,342,748 |
945,127,930 |
933,468,684 |
|
Deferred Income Tax
Credit |
|
|
17,802,234 |
|
Other Current
Liabilities |
557,881,219 |
558,130,850 |
602,163,102 |
|
Non-Current Liabilities |
9,707,570,712 |
9,463,572,531 |
9,547,287,551 |
|
Long-Term Trade
Payables & Other Payables |
482,465,383 |
466,817,224 |
459,543,161 |
|
Long-Term Borrowings |
500,000,000 |
500,000,000 |
750,000,000 |
|
Provision for
Severance & Retirement |
5,179,077,977 |
5,071,977,293 |
4,905,691,559 |
|
Deferred Income Tax
Credit |
3,546,027,352 |
3,424,778,014 |
3,432,052,831 |
|
Capital Stock |
6,740,658,500 |
6,740,658,500 |
6,740,658,500 |
|
Capital Surplus |
18,806,571,277 |
18,806,571,277 |
18,806,571,277 |
|
Others |
527,333,918 |
40,606,523 |
125,323,491 |
|
Profit Surplus |
28,797,910,334 |
27,913,355,724 |
27,530,131,218 |
|
Total Equity |
54,872,474,029 |
53,501,192,024 |
53,202,684,486 |
|
Liab. &
Shareholder’s Equity |
98,132,672,061 |
88,102,381,006 |
89,285,060,431 |
|
Unit : Korean Won |
07/01/2014~09/30/2014 |
04/01/2014~06/30/2014 |
04/01/2013~03/31/2014 |
|
Sales |
25,602,559,661 |
21,811,477,039 |
97,884,650,269 |
|
Cost of Sold Goods |
21,976,775,574 |
18,221,674,990 |
84,841,972,646 |
|
Gross Profit |
3,625,784,087 |
3,589,802,049 |
13,042,677,623 |
|
Selling & Admin. Expenses |
2,904,498,718 |
3,013,618,523 |
11,160,901,681 |
|
Operating Income |
721,285,369 |
576,183,526 |
1,881,775,942 |
|
Other Operating Income |
213,262,545 |
91,267,276 |
435,515,815 |
|
Other Operating Expenses |
197,079,232 |
283,704,978 |
1,124,681,837 |
|
Profits from Investment on
Related Companies |
318,241,732 |
96,110,974 |
1,345,249,393 |
|
Finance Income |
4,586,072 |
4,536,414 |
32,630,213 |
|
Finance Expenses |
173,205,892 |
87,862,270 |
347,897,374 |
|
Income Before Taxes |
887,090,594 |
396,530,942 |
2,222,592,152 |
|
Income Taxes Expenses |
2,535,984 |
0 |
52,178,511 |
|
Income from Continuous Business |
884,554,610 |
396,530,942 |
2,170,413,641 |
|
Income from Stopped Business |
0 |
0 |
0 |
|
Net Income |
884,554,610 |
396,530,942 |
2,170,413,641 |
|
Unit : Korean Won |
07/01/2014~09/30/2014 |
04/01/2014~06/30/2014 |
04/01/2013~03/31/2014 |
|
Cash Flows from
Operating |
-5,064,612,217 |
2,501,800,063 |
-3,741,650,395 |
|
Net Income |
884,554,610 |
396,530,942 |
2,170,413,641 |
|
Adjustment |
-5,949,166,827 |
2,105,269,121 |
-5,912,064,036 |
|
Cash Flows from
Investing |
-2,868,925,167 |
-2,281,912,403 |
-567,568,935 |
|
Cash Flows from
Financing |
7,946,080,797 |
-186,174,155 |
2,893,632,589 |
|
Increase/Decrease in
Cash |
12,543,413 |
33,713,505 |
-1,415,586,741 |
|
Cash at the Beginning
of Year |
176,132,849 |
142,419,344 |
1,558,006,085 |
|
Cash at the End of
Year |
188,676,262 |
176,132,849 |
142,419,344 |
|
Main Products & Services |
Vacuum Circuit Breaker, Automatic Transfer Switch, Lightning Arrester Brand Name : VIDER |
||||||||||||
|
Detailed Products Spec. |
|
||||||||||||
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
|
|
Competitors |
HYUNDAI HEAVY INDUSTRIES CO., LTD.(181211-0000386) HYOSUNG CORPORATION(110111-0030497) LS INDUSTRIAL SYSTEMS CO., LTD.(110111-0520076) |
|
Affiliates |
VITZROCELL CO., LTD.(110111-0548771) (22.5% held by the subject company) VITZRO MATERIALS CO., LTD.(131411-0170911) VITZRO MILTECH CO., LTD.(110111-0831663) USI VITZRO CO., LTD.(CHINA) (100.0% held by the subject company) VITZRONET CO., LTD.(110111-3126095) (5.0% held by the subject company) VITZROSYS., CO. LTD(110111-0657275) VITZRO E&I CO., LTD.(131411-0170911) VITZRO COM CO., LTD.(110111-0831663) VITZRO MEDIA CO.,
LTD.(110111-4163799) WETECH CO., LTD.(134511-0070116) VITZRO C&C CO., LTD.(110111-3777533) IUS SOLUTIONS, INC INNOVATIVE POWER TECHNOLOGY INC EXIUM TECHNOLOGIES.INC |
|
Cooperative Enterprise |
-Insured Company LOTTE NON-LIFE INSURANCE CO., LTD.(110111-0014459) |
|
Sales/ Unit :Mil KRW |
12/2010 |
03/2010 |
03/2009 |
|
Export |
9,168 |
9,862 |
15,050 |
|
Domestic |
44,834 |
53,191 |
41,806 |
|
Total |
54,002 |
63,053 |
56,856 |
The Subject exports
to North America, South East Asia and Europe.
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.45 |
|
|
1 |
Rs.95.99 |
|
Euro |
1 |
Rs.75.28 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
ANK |
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.