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Report No. : |
331875 |
|
Report Date : |
14.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
LAPP KOREA LLC. |
|
|
|
|
Registered Office : |
G-Block, Jangan Local Industrial Complex, 42, Jangangongdan 8-gil, Jangan-myeon, Hwaseong-si, Gyeonggi-do 445-941 |
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|
|
|
Country : |
South Korea |
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|
|
|
Financials (as on) : |
30.09.2014 |
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|
|
|
Date of Incorporation : |
23.08.2011 |
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|
|
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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 : |
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 |
Basic
|
Company Name |
LAPP KOREA LLC. (Korean Company Name : “(유)랍코리아”) |
|
Registered Address |
42, Jangangongdan 8-gil, 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, 42,
Jangangongdan 8-gil, 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 |
+82-31-697-4002 |
|
Fax |
+82-31-697-4009 |
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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 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Power cable(26121629) |
|
Sell |
Connectors(31163100) |
CEO’s
|
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 |
Profiles
|
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 |
|||||||||
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Corporate Registered No. |
134814-0001333(From
150111-0047618) |
|||||||||
|
Business Registered No. |
301-81-44555 |
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|
Permit & Licenses |
11/2003 ISO 9001 12/2009 ISO 9001 09/07/2012 ISO 14001 09/05/2012 ISO 9001 Int’l
Trade No.: 23102253 |
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Shareholder Position |
|
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|
Company History |
07/01/2000 Incorporated as Thomas LAPP
Cable Korea Co., Ltd. 10/23/2000 Registered as a Foreign Direct
Investment Corporation(K0026203) 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 |
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|
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Management
|
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 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
49,017,252,000 |
30,916,102,000 |
3,479,517,000 |
|
|
09/2013 |
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 |
Financial
Description
|
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 09/30/2014 |
As of 09/30/2013 |
As of 09/30/2012 |
|
Total Assets |
30,916,102,000 |
33,038,411,000 |
34,727,558,000 |
|
Current Assets |
19,920,134,000 |
21,700,054,000 |
26,200,484,000 |
|
-Quick
Assets |
- |
- |
- |
|
-Inventories |
- |
- |
- |
|
Fixed
Assets |
10,995,968,000 |
11,338,357,000 |
8,527,074,000 |
|
-Investment |
- |
- |
- |
|
-Tangibles |
- |
- |
- |
|
-Intangibles |
- |
- |
- |
|
Total Liabilities |
10,187,845,000 |
11,889,672,000 |
17,434,172,000 |
|
Current Liabilities |
10,017,838,000 |
11,889,672,000 |
17,433,202,000 |
|
Fixed Liabilities |
170,007,000 |
- |
970,000 |
|
Capital Stock |
8,418,300,000 |
8,418,300,000 |
8,418,300,000 |
|
Capital Surplus |
- |
- |
- |
|
Profit Surplus |
12,309,957,000 |
12,730,439,000 |
8,875,086,000 |
|
Capital Adjustment |
- |
- |
- |
|
Total Equity |
20,728,257,000 |
21,148,739,000 |
17,293,386,000 |
|
Liab. & Shareholder’s Equity |
30,916,102,000 |
33,038,411,000 |
34,727,558,000 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of 09/30/2014 |
As of 09/30/2013 |
As of 09/30/2012 |
|
Sales |
49,017,252,000 |
63,771,734,000 |
68,954,743,000 |
|
Cost of Sold Goods |
36,922,655,000 |
49,480,585,000 |
54,145,710,000 |
|
Gross Profit |
12,094,597,000 |
14,291,149,000 |
14,809,033,000 |
|
Selling & Admin. Expenses |
7,670,567,000 |
7,676,196,000 |
7,422,895,000 |
|
Operating Income |
4,424,030,000 |
6,614,953,000 |
7,386,138,000 |
|
Non-Operating Income |
561,137,000 |
906,168,000 |
1,269,760,000 |
|
Non-Operating Expenses |
621,160,000 |
854,529,000 |
1,677,045,000 |
|
Income Before Taxes |
4,364,007,000 |
6,666,592,000 |
6,978,853,000 |
|
Income Taxes Expenses |
884,490,000 |
1,311,238,000 |
1,347,951,000 |
|
Net Income |
3,479,517,000 |
5,355,354,000 |
5,630,902,000 |
|
Main Products & Services |
Cable,
Connectors |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
JIWON TECH CO., LTD.(KOREA) EURO CABLE JTS CO., LTD.(KOREA) HANARO TECH CO.(KOREA) SAMDUCK FA CO.(KOREA) A-ONE TECH CO.(KOREA) |
|
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. |
|
Overseas Office |
|
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
|
|
Subsidiary |
|
|
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) |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.47 |
|
|
1 |
Rs.98.47 |
|
Euro |
1 |
Rs.70.69 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TPT |
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.