|
Report No. : |
329307 |
|
Report Date : |
01.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
K-PLUS CO., LTD. |
|
|
|
|
Registered Office : |
324, Gongneungcheon-ro, Ilsandong-gu, Goyang-si, Gyeonggi-do 410-570 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
18.01.2007 |
|
|
|
|
Com. Reg. No.: |
128-86-18802 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Sale of Other Motor Vehicle New Parts and Accessories |
|
|
|
|
No. of Employees : |
21 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 economic 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. A system of close government and business ties, including directed credit and import restrictions, initially 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 7% 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 over 6% growth in 2010. The US-Korea Free Trade Agreement was ratified by both governments in 2011 and went into effect in March 2012. Between 2012 and 2014, the economy experienced slow growth due to sluggish domestic consumption and investment. The administration in 2015 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 the heavy reliance on exports, which comprise about half of GDP. In an effort to address the long term challenges and sustain economic growth, the current government has prioritized structural reforms, deregulation, promotion of entrepreneurship and creative industries, and the competitiveness of small and medium enterprises.
|
Source
: CIA |
Basic
|
Company Name |
K-PLUS CO., LTD. (Korean Company Name : “(주)케이플러스”) |
|
Registered Address |
324, Gongneungcheon-ro, Ilsandong-gu, Goyang-si, Gyeonggi-do, Korea |
|
Building |
|
|
Zip Code |
410-570 |
|
Tel |
+82-31-977-1274 |
|
Fax |
+82-31-912-1242 |
|
E-mail |
parts@k-plus.co.kr |
|
Website |
www.k-plus.co.kr |
|
Trading
Address |
324, Gongneungcheon-ro, Ilsandong-gu,
Goyang-si, Gyeonggi-do, Korea (Old Address System : 1-3, Jiyeong-dong, Ilsandong-gu, Goyang-si, Gyeonggi-do,
Korea) |
|
Tel |
+82-31-977-7857 |
|
Fax |
+82-31-912-1242 |
|
Other
Address |
112, Seongseok-ro, Ilsandong-gu, Goyang-si,
Gyeonggi-do, Korea (Old
Address System : 873-6, Seongseok-dong, Ilsandong-gu,
Goyang-si, Gyeonggi-do, Korea) |
|
Tel |
|
|
Fax |
|
|
Type |
Export |
|
Industry |
Sale
of Other Motor Vehicle New Parts and Accessories |
|
Main Business |
Automotive
Engine Components |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
01/18/2007 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Engine components and accessories(26101700) |
CEO’s
|
Name |
Kim
Young-Tae |
|
Address |
Suite 704-1402, 1105, Gajwa-dong,
Ilsanseo-gu, Goyang-si, Gyeonggi-do, Korea |
|
Date of Birth |
01/13/1971 |
|
Title |
President
& CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
500,000,000 |
|||||||||||||||
|
Employees |
21 |
|||||||||||||||
|
Formation |
Co.,
Ltd by Shares |
|||||||||||||||
|
Bank Details |
Woori Bank-Ilsan Branch Industrial Bank of Korea-Ilsan Central
Branch |
|||||||||||||||
|
Corporate Registered No. |
281111-0122488 |
|||||||||||||||
|
Business Registered No. |
128-86-18802 |
|||||||||||||||
|
Permit & Licenses |
Int’l
Trade No.: 30446294 |
|||||||||||||||
|
Shareholder Position |
|
|||||||||||||||
|
Company History |
01/18/2007 Incorporated as the present name 12/28/2010 Increased the authorized shares
to 500,000 shares from 80,000 shares 12/29/2010 Increased capital to 400,000,000
KRW from 300,000,000 KRW 02/18/2012 Increased capital to 500,000,000
KRW from 400,000,000 KRW 11/20/2012 Moved to the presently
registered HQ address from 112, Seongseok-ro, Ilsandong-gu, Goyang-si,
Gyeonggi-do, Korea (Old Address System : 873-6,
Seongseok-dong, Ilsandong-gu, Goyang-si, Gyeonggi-do, Korea) |
|||||||||||||||
|
|
|
Management
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
President
& CEO |
Mr. |
Kim
Young-Tae |
Male |
Korean |
12/28/2010 |
|
Director |
Mr. |
Song Se-Jong |
Male |
Korean |
02/17/2012 |
|
Auditor |
Mr. |
Choi Min-Ho |
Male |
Korean |
12/28/2010 |
Financials
|
Year / Unit
: KRW |
Sales |
Assets |
Net Income |
|
10,371,492,756 |
7,080,923,357 |
-4,158,825,489 |
|
|
2013 |
16,191,175,272 |
10,880,794,041 |
466,851,933 |
|
2012 |
15,481,628,000
|
9,069,948,000
|
453,595,000
|
|
2011 |
16,210,905,000
|
5,660,641,000
|
458,751,000
|
|
2010 |
15,029,861,000
|
5,175,270,000
|
388,452,000
|
|
2009 |
20,146,644,000
|
4,451,777,000
|
482,608,000
|
|
2008 |
11,327,083,000 |
2,641,435,000 |
351,086,000 |
|
2007 |
5,597,756,000 |
1,269,960,000 |
113,259,000 |
|
2006 |
6,062,000,000 |
1,308,000,000 |
201,000,000 |
Financial
Description
|
Authorized Capital(KRW) |
2,500,000,000 |
|
Paid-Up Capital(KRW) |
500,000,000 |
|
Total Issues Shares |
100,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of
12/31/2014 |
As of
12/31/2013 |
As of
12/31/2012 |
|
Total Assets |
7,080,923,357 |
10,880,794,041 |
|
|
Current Assets |
3,134,215,525 |
6,846,285,546 |
|
|
-Quick
Assets |
2,851,793,424 |
2,921,537,203 |
|
|
-Inventories |
282,422,101 |
3,924,748,343 |
|
|
Fixed
Assets |
3,946,707,832 |
4,034,508,495 |
|
|
-Investment |
0 |
0 |
|
|
-Tangibles |
3,775,617,806 |
3,854,100,152 |
|
|
-Intangibles |
30,743,120 |
30,743,120 |
|
|
-Others |
140,346,906 |
149,665,223 |
|
|
Total Liabilities |
8,116,834,943 |
7,757,880,138 |
|
|
Current Liabilities |
4,316,834,943 |
3,957,880,138 |
|
|
Fixed Liabilities |
3,800,000,000 |
3,800,000,000 |
|
|
Capital Stock |
500,000,000 |
500,000,000 |
|
|
Capital Surplus |
|
|
|
|
Profit Surplus |
-1,535,911,586 |
2,622,913,903 |
|
|
Capital Adjustment |
|
|
|
|
Total Equity |
-1,035,911,586 |
3,122,913,903 |
|
|
Liab. & Shareholder’s Equity |
7,080,923,357 |
10,880,794,041 |
|
|
Current Liabilities |
4,316,834,943 |
3,957,880,138 |
|
|
Trade
Payables |
197,347,540 |
78,890,120 |
|
|
Account
Payables |
13,735,850 |
54,112,440 |
|
|
Withholdings |
54,354,870 |
13,898,360 |
|
|
Advance
Receipts |
0 |
101,298,645 |
|
|
Short-Term
Borrowings |
4,051,396,683 |
3,709,680,573 |
|
|
Fixed Liabilities |
3,800,000,000 |
3,800,000,000 |
|
|
Long-Term
Borrowings |
3,800,000,000 |
3,800,000,000 |
|
Income
Statement
|
|||
|
Unit : Korean Won |
As of
12/31/2014 |
As of
12/31/2013 |
As of 12/31/2012 |
|
Sales |
10,371,492,756 |
16,191,175,272 |
|
|
Cost of Sold Goods |
12,422,098,801 |
13,144,561,141 |
|
|
Gross Profit |
-2,050,606,045 |
3,046,614,131 |
|
|
Selling & Admin. Expenses |
1,598,242,517 |
2,052,712,599 |
|
|
Operating Income |
-3,648,848,562 |
993,901,532 |
|
|
Non-Operating Income |
72,733,407 |
151,243,515 |
|
|
Non-Operating Expenses |
582,710,334 |
631,907,865 |
|
|
Income Before Taxes |
-4,158,825,489 |
513,237,182 |
|
|
Income Taxes Expenses |
0 |
46,385,249 |
|
|
Net Income |
-4,158,825,489 |
466,851,933 |
|
Cash Flows
|
|||
|
Unit : Korean Won |
As of
12/31/2014 |
As of
12/31/2013 |
As of
12/31/2012 |
|
Cash Flows from Operating |
-397,881,761 |
-1,277,070,819 |
|
|
-Net Income |
-4,158,825,489 |
466,851,933 |
|
|
-Exp. without Cash Outflow |
127,424,160 |
144,691,285 |
|
|
-Revenue without Cash Inflows |
-45,691,801 |
-136,186,805 |
|
|
-Changes in Asset/ & Liability |
3,679,211,369 |
-1,752,427,232 |
|
|
Cash Flows from Investing |
33,579,378 |
-173,411,676 |
|
|
-Cash Inflow from Investing |
97,454,546 |
70,700,000 |
|
|
-Cash Outflows for Investing |
-63,875,168 |
-244,111,676 |
|
|
Cash Flows from Financing |
360,116,110 |
1,433,557,113 |
|
|
-Cash Inflows from Financing |
360,116,110 |
1,433,557,113 |
|
|
-Cash Outflows from Financing |
- |
- |
|
|
Increase/Decrease in Cash |
-4,186,273 |
-16,925,382 |
|
|
Cash at the Beginning of Year |
4,539,422 |
21,464,804 |
|
|
Cash at the End of Year |
353,149 |
4,539,422 |
|
|
Main Products & Services |
Automotive
Engine Components |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
|
|
Competitors |
YONG DONG INDUSTRIAL CO., LTD. 10-5, JUKGOK-RI, JINYEONG-EUP, GIMHAE-SI,
GYEONGSANGNAM-DO, KOREA TEL:+82-55-342-4050 FAX:+82-55-342-5186 PALMI METAL INDUSTRY CO., LTD. 371-4, NAMYANG-DONG, JINHAE-SI,
GYEONGSANGNAM-DO, KOREA TEL:+82-55-552-3840 FAX:+82-55-552-8400 BUKUK METAL CO., LTD. 365-5, NAMYANG-DONG, JINHAE-SI,
GYEONGSANGNAM-DO, KOREA TEL:+82-55-551-8400 FAX:+82-55-551-8405 |
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.75 |
|
|
1 |
Rs. 100.12 |
|
Euro |
1 |
Rs. 71.20 |
INFORMATION DETAILS
|
Analysis Done by
: |
SAN |
|
|
|
|
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.