|
Report No. : |
330505 |
|
Report Date : |
03.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
HOMECAST CO., LTD. |
|
|
|
|
Registered Office : |
726, Eonju-Ro, Gangnam-Gu, Seoul, 14FL., Doosan Bldg. Korea 138-160 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.03.2015 |
|
|
|
|
Date of Incorporation : |
27.04.2000 |
|
|
|
|
Com. Reg. No.: |
215-81-91010 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Broadcasting Apparatuses. |
|
|
|
|
No. of Employees : |
76 |
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 – 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 |
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
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 |
|
Company Name |
HOMECAST CO., LTD. |
|
Registered Address |
726, Eonju-ro, Gangnam-gu, Seoul, Korea |
|
Building |
14FL., Doosan Bldg. |
|
Zip Code |
138-160 |
|
Tel |
+82-2-2142-3700 |
|
Fax |
+82-2-2142-3749 |
|
E-mail |
|
|
Website |
|
|
Trading Address |
14FL.,
Doosan Bldg., 726, Eonju-ro, Gangnam-gu, Seoul, Korea (Old Address System : 14FL., Doosan Bldg., 105-7, Nonhyeon 2-dong, Gangnam-gu, Seoul, Korea) |
|
Tel |
+82-2-2142-3700 |
|
Fax |
+82-2-2142-3749 |
|
Other Address- Yeoju Factory |
497-6, Jeombong-ri, Yeoju-eup, Yeoju-gun,
Gyeonggi-do, Korea |
|
Tel |
+82-31-883-1303 |
|
Fax |
+82-31-883-1348 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Broadcasting Apparatuses |
|
Main Business |
Digital Satellite Receiver, Digital Terrestrial(Cable) Receiver, Home
Network Peperater, Digital Set Top Box |
|
|
|
|
Established (mm/dd/yyyy) |
04/27/2000 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Multimedia receivers(52161521) |
|
Sell |
Satellite receivers(52161526) |
|
Sell |
Video cassette players or
recorders(52161529) |
|
Buy |
Transistors(32111600) |
|
Buy |
Magnetic coils(39121010) |
|
Buy |
Radio access equipment(43221705) |
|
Buy |
Filters(40161500) |
|
Buy |
Resistors(32121600) |
|
Buy |
Plastic injection moldings(31141501) |
|
Buy |
Bare printed circuit boards(32131010) |
|
Buy |
Diodes(32111500) |
|
Buy |
Integrated circuits(32101600) |
|
Buy |
Connectors(31163100) |
|
Name |
Shin Jae-Ho |
|
Address |
Suite 104-1404, 55, Jeongjail-ro,
Bundang-gu, Seongnam-si, Gyeonggi-do, Korea |
|
Date of Birth |
08/11/1970 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
15,835,488,000 |
||||||||||||||||||||||||
|
Employees |
76 |
||||||||||||||||||||||||
|
Formation |
Listed Company (KOSDAQ: 064240) as of 06/11/2003 Venture Business |
||||||||||||||||||||||||
|
Bank Details |
Kookmin Bank-Bangyi Dong Corporate Finance
Branch Korea Exchange Bank |
||||||||||||||||||||||||
|
Corporate Registered No. |
110111-1954513 |
||||||||||||||||||||||||
|
Business Registered No. |
215-81-91010 |
||||||||||||||||||||||||
|
Permit & Licenses |
Int’l Trade No.: 11782238 |
||||||||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||||||||
|
Company History |
04/27/2000
Incorporated as EM Techniques Co., Ltd. 07/29/202
Designated as an INNO-BIZ Company 03/12/2004
Changed company name to the present name 03/12/2004 Increased
the authorized shares to 40,000,000 shares from 20,000,000 shares 11/30/2005
Awarded US$ 100 Million Export Top Prize 03/22/2006
Designated as a Venture Business 08/21/2014
Moved to the present HQ address from 36, Garak-dong, Songpa-gu, Seoul, Korea 04/02/2015 Increased capital to
15,835,488,000 KRW from 15,662,478,000 KRW |
||||||||||||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Inauguration Date |
|
Co-President & CEO |
Mr. |
Shin Jae-Ho |
Korean |
08/11/1970 |
12/29/2014 |
|
Co-President & CEO |
Mr. |
Kwon Young-Cheol |
Korean |
11/07/1972 |
12/29/2014 |
|
Director |
Mr. |
Yun Jin-Seok |
USA |
08/20/1967 |
05/23/2014 |
|
Outside Director |
Mr. |
Jang Yong-Sik |
Korean |
03/20/1955 |
05/23/2014 |
|
Outside Director |
Mr. |
Han Do |
Korean |
08/01/1969 |
12/29/2014 |
|
Outside Director |
Mr. |
Myung Jae-Won |
Korean |
09/16/1974 |
12/29/2014 |
|
Auditor |
Mr. |
Choi Byung-Gap |
Korean |
12/15/1953 |
05/23/2014 |
|
Auditor |
Mr. |
Sohn Boo-Kyung |
Korean |
04/03/1960 |
12/29/2014 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
18,107,370,537 |
116,313,374,073 |
1,187,693,765 |
|
|
(*)2014 |
71,744,806,292 |
112,178,377,401 |
2,285,967,987 |
|
(*)2013 |
74,714,222,965 |
67,072,464,013 |
-18,661,128,662 |
|
(*)2012 |
96,501,955,459 |
73,726,801,656 |
-1,864,860,084 |
|
(*)2011 |
161,444,196,910 |
98,278,111,605 |
6,560,036,952 |
|
2010 |
129,707,926,380 |
96,216,904,554 |
6,836,416,669 |
|
2009 |
165,738,564,784 |
79,975,445,829 |
-4,845,621,963 |
|
2008 |
163,843,612,921 |
81,462,549,376 |
8,619,371,058 |
(*)Figures are based on the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
200,000,000,000 |
|
Paid-Up Capital(KRW) |
15,835,488,000 |
|
Total Issues Shares |
31,170,893 |
|
Balance Sheet |
|||
|
Unit : Korean
Won |
01/01/2015~03/31/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Total
Assets |
116,313,374,073 |
112,178,377,401 |
67,072,464,013 |
|
Current Assets |
55,981,864,571 |
53,388,502,158 |
35,652,986,813 |
|
Cash
& Cash Equivalents |
10,824,789,062 |
12,323,219,595 |
5,493,332,765 |
|
Trade
Receivables |
17,371,992,782 |
15,642,350,790 |
20,578,521,470 |
|
Other Receivables |
25,602,208 |
57,194,070 |
204,570,587 |
|
Other
Current Assets |
135,842,094 |
32,107,335 |
4,724,384 |
|
Short-Term
Receivables |
1,700,000,000 |
2,694,000,000 |
267,860,341 |
|
Advance
Payments |
675,120,826 |
655,808,148 |
175,883,097 |
|
Prepaid
Expenses |
26,845,393 |
19,476,996 |
28,899,902 |
|
Prepaid
Taxes |
905,330 |
47,365,451 |
|
|
Deferred
Income Tax Assets |
47,361,751 |
|
13,721,070 |
|
Current
Financial Instruments |
12,101,725,450 |
12,278,484,200 |
282,077,100 |
|
Finance
Assets from this year's Income |
3,500,000,000 |
3,500,000,000 |
|
|
Marketable
Financial Instruments |
|
|
260,582,785 |
|
Inventories |
9,571,679,675 |
6,138,495,573 |
8,342,813,312 |
|
Derivatives |
0 |
0 |
0 |
|
Non-Current Assets |
60,331,509,502 |
58,789,875,243 |
31,419,477,200 |
|
Tangibles |
19,671,766,330 |
19,691,684,109 |
27,764,335,120 |
|
Intangibles |
946,433,391 |
1,642,365,953 |
1,918,773,317 |
|
Investment_Subsidiaries |
1,706,000,000 |
20,000,000 |
0 |
|
Investment_Related
Companies |
27,989,992,000 |
27,989,992,000 |
0 |
|
Marketable
Financial Instruments |
558,719,445 |
558,719,445 |
775,048,108 |
|
Investment_Real
Estates |
7,914,158,736 |
7,914,158,736 |
|
|
Non-Current
Financial Instruments |
276,250,000 |
274,800,000 |
263,825,000 |
|
Guarantee Deposit |
1,268,189,600 |
698,155,000 |
70,456,000 |
|
Deferred
Income Tax Assets |
|
|
627,039,655 |
|
Total Liabilities |
44,274,759,865 |
41,378,908,385 |
26,800,995,566 |
|
Current Liabilities |
40,759,284,212 |
37,796,601,847 |
22,800,995,566 |
|
Trade
Payables |
5,256,835,492 |
3,988,975,198 |
7,887,332,631 |
|
Account
Payables |
4,862,996,776 |
3,217,207,141 |
4,153,052,956 |
|
Accrued
Expenses |
312,894,960 |
296,364,495 |
434,808,744 |
|
Advance
Receipts |
1,069,149,232 |
1,256,905,398 |
606,259,346 |
|
Withholdings |
100,385,952 |
193,428,872 |
131,714,129 |
|
Short-Term
Borrowings |
6,672,500,000 |
6,919,001,600 |
9,587,827,760 |
|
Current
Portion of Long-Term Debts |
1,333,360,000 |
1,000,030,000 |
0 |
|
Current
Portion of Debentures |
21,151,161,800 |
20,924,689,143 |
|
|
Non-Current Liabilities |
3,515,475,653 |
3,582,306,538 |
4,000,000,000 |
|
Long-Term
Borrowings |
2,666,640,000 |
2,999,970,000 |
4,000,000,000 |
|
Leasehold Deposit Received |
200,000,000 |
200,000,000 |
|
|
Provision
for Severance & Retirement |
193,961,532 |
262,452,966 |
0 |
|
Deferred
Income Tax Credit |
454,874,121 |
119,883,572 |
0 |
|
Capital Stock |
12,310,350,500 |
12,310,350,500 |
7,629,193,000 |
|
Capital
Surplus |
41,372,065,362 |
41,372,065,362 |
19,223,701,229 |
|
Capital
Adjustment |
-1,447,031,858 |
-1,498,483,285 |
-3,032,160,328 |
|
Others |
0 |
|
24,022,871 |
|
Profit
Surplus |
19,803,230,204 |
18,615,536,439 |
16,426,711,675 |
|
Total
Equity |
72,038,614,208 |
70,799,469,016 |
40,271,468,447 |
|
Liab.
& Shareholder’s Equity |
116,313,374,073 |
112,178,377,401 |
67,072,464,013 |
|
Income Statement |
|||
|
Unit : Korean
Won |
01/01/2015~03/31/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Sales |
18,107,370,537 |
71,744,806,292 |
74,714,222,965 |
|
Cost of Sold Goods |
10,402,999,602 |
50,441,725,935 |
55,129,110,130 |
|
Gross Profit |
7,704,370,935 |
21,303,080,357 |
19,585,112,835 |
|
R&D |
856,619,237 |
3,207,718,660 |
2,929,913,170 |
|
Selling & Admin. Expenses |
5,058,261,958 |
10,851,604,173 |
24,273,278,687 |
|
Operating Income |
1,789,489,740 |
7,243,757,524 |
-7,618,079,022 |
|
Finance Income |
654,035,772 |
3,726,357,105 |
1,875,774,563 |
|
Finance Expenses |
920,542,040 |
3,560,726,838 |
2,622,680,258 |
|
Other Operating Income |
3,811,872,323 |
663,579,400 |
11,728,551 |
|
Other Operating Expenses |
3,812,171,481 |
5,013,451,951 |
10,132,263,927 |
|
Income Before Taxes |
1,522,684,314 |
3,059,515,240 |
-18,485,520,093 |
|
Income Taxes Expenses |
334,990,549 |
773,547,253 |
-175,608,569 |
|
Net Income |
1,187,693,765 |
2,285,967,987 |
-18,661,128,662 |
|
Cash Flows |
|||
|
Unit : Korean
Won |
01/01/2015~03/31/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Operating
Activities Cash Flows |
-575,726,702 |
12,140,836,857 |
76,240,309 |
|
Cash Flows from Operating |
-173,540,477 |
13,130,258,380 |
571,520,246 |
|
Net Income |
1,187,693,765 |
2,285,967,987 |
-18,661,128,662 |
|
Adjustment |
1,190,232,038 |
6,643,196,240 |
20,858,949,096 |
|
Changes in Asset/ & Liability |
-2,551,466,280 |
4,201,094,153 |
-1,626,300,188 |
|
Interests Received |
109,734,417 |
642,600,730 |
180,619,657 |
|
Interests Paid |
-511,920,642 |
-1,632,022,253 |
-360,408,734 |
|
Income Taxes |
|
|
-315,490,860 |
|
Cash Flows from Investing |
-569,126,250 |
-51,000,570,127 |
-9,816,037,200 |
|
Cash Flows from Financing |
-272,601,600 |
45,550,805,110 |
6,695,495,234 |
|
Increase/Decrease in Cash |
-1,417,454,552 |
6,691,071,840 |
-3,044,301,657 |
|
Cash at the Beginning of Year |
12,323,219,595 |
5,493,332,765 |
8,553,358,283 |
|
Cash at the End of Year |
10,824,789,062 |
12,323,219,595 |
5,493,332,765 |
|
Main Products & Services |
DIGITAL SET-TOP-BOX(STB) DIGITAL SATELLITE RECEIVER DIGITAL CABLE BOX DIGITAL WEB BOX HDTV STB DIGITAL TERRESTRIAL RECEIVER PVR(PERSONAL VIDEO RECORDER) DIGITAL AUDIO BROADCASTING RECEIVER HOME NETWORK SET-TOP BOX TERRESTRIAL DIGITAL MULTIMEDIA BROADCASTING PORTABLE MULTIMEDIA PLAYER PMP Brand Name: HOMECAST, TVUS |
|
Competitors |
HUMAX(110111-0604200) TOPFIELD CO., LTD(131111-0033389) WOOJEON & HANDAN CO.,
LTD.(110111-1459969) HYUNDAI DIGITAL TECHNOLOGY CO., LTD.(110111-1535272) KAON MEDIA CO., LTD.(131111-0060978) |
|
Affiliates |
LUK CENTER CO., LTD.(176011-0032728) (40.49%held by the subject company) HOMECAST THAILAND CO., LTD. (49.00%held by the subject company) H BION INC.(110111-3893941) (22.12%held by the subject company) BRAVE ENTERTAINMENT CO., LTD.(110111-4908947) (31.54%held by the
subject company) SPO LIVE CO., LTD.(110111-5225142) (29.1% held by the subject company) |
|
Cooperative Enterprise |
-CAS License Agreement with IRDETO ACCESS B.V. -Patent Using Agreement with S.I.SV.EL.,S.P.A. |
|
Sales/ Unit : Thousand KRW |
03/2015 |
2014 |
2013 |
|
Export |
16,827,423 |
68,148,655 |
72,878,861 |
|
Domestic |
1,279,947 |
3,596,151 |
1,835,362 |
|
Total |
18,107,370 |
71,744,806 |
74,714,223 |
The Subject exports to China, South East Asian, Middle East, Europe and
USA.
|
Case No. |
Court |
Plaintiff(s)/ Creditor(s)/ Applicant(s) |
Defendant(s)/ Debtor(s)/ Respondent(s) |
Cause |
Amount (KRW) |
Status |
|
|
Seoul District Public Prosecutor´s Office |
Lee Bo-Sun(Ex. President & CEO) |
The Subject Company |
Misappropriation of Business |
550,000,000 |
Proceeding |
|
|
|
Prosecutor´s Office |
The Subject Company |
Violation of law of punishment on tax criminal |
|
1st round is proceeding |
---------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.57 |
|
|
1 |
Rs.99.20 |
|
Euro |
1 |
Rs.70.35 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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.