|
Report No. : |
328095 |
|
Report Date : |
18.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
KUM YANG CO.,
LTD. |
|
|
|
|
Registered Office : |
81, Nakdong-daero 960beon-gil, Sasang-gu,
Busan, Korea |
|
|
|
|
Country : |
South
Korea |
|
|
|
|
Financials (as on) : |
31.03.2015 |
|
|
|
|
Date of Incorporation : |
17.11.1955 |
|
|
|
|
Com. Reg. No.: |
606-81-04711 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of All Other Chemical Products |
|
|
|
|
No. of Employees : |
99 |
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 : |
Exist |
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, and is currently the world's 12th largest economy. 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 sluggish
growth because of external market slowdowns. 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.
|
Source
: CIA |
|
Company Name |
KUM YANG CO.,
LTD. (Korean Company
Name : “(주)금양”) |
|
Registered Address |
81, Nakdong-daero 960beon-gil, Sasang-gu,
Busan, Korea (Old Address System : 951-1, Gamjeon-dong,
Sasang-gu, Busan, Korea) |
|
Building |
|
|
Zip Code |
617-805 |
|
Tel |
+82-51-316-5881~5 |
|
Fax |
+82-51-325-5887 |
|
E-mail |
kysale@kyc.co.kr;poisoner@kyc.co.kr;dcryu@kyc.co.kr;dcryu@kyc.co.kr |
|
Website |
www.kyc.co.kr |
|
Trading Address |
Rm. 1201, Korea Trade Tower, 511,
Yeongdong-daero, Gangnam-gu, Seoul, Korea (Old Address System : Rm. 1201, Korea
Trade Tower, 159-1, Samseong 1-dong, Gangnam-gu, Seoul, Korea) |
|
Tel |
+82-2-563-5907 |
|
Fax |
+8 -2-553-9078 |
|
Other Address |
|
|
Tel |
|
|
Fax |
|
|
Type |
Export |
|
Industry |
Manufacture of All Other Chemical Products n.e.c. |
|
Main Business |
Chemical Blowing Agent, Plasticizer, Master Batch |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
11/17/1955 |
The Subject owns
the premises of registered HQ address(15,443㎡).
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Polymer masterbatches(12171701) |
|
Sell |
Foaming agents(12161903) |
|
Sell |
Cracking catalysts(12161604) |
|
Name |
Ryu Kwang-Jy |
|
Address |
|
|
Date of Birth |
05/25/1966 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
19,676,654,000 |
|||||||||||||||
|
Employees |
99 |
|||||||||||||||
|
Formation |
Listed Company (Korea Stock Exchange : 001570) as of
12/17/1976 Venture Business |
|||||||||||||||
|
Bank Details |
Shinhan Bank-Bujeon Dong Branch Korea Development Bank Busan Bank Kookmin Bank Hana Bank |
|||||||||||||||
|
Corporate Registered No. |
180111-0003101 |
|||||||||||||||
|
Business Registered No. |
606-81-04711 |
|||||||||||||||
|
Permit & Licenses |
01/01/2000 ISO 9002 08/01/2000 ISO 14001 Int’l Trade No.: 700087 |
|||||||||||||||
|
Shareholder Position |
|
|||||||||||||||
|
Company History |
11/17/1955 Incorporated as KUM BUK
CHEMICAL INDUSTRIES CO., LTD. 07/15/1978 Changed company name to the
present name |
|||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education/Career |
|
President & CEO |
Mr. |
Ryu Kwang-Jy |
Korean |
1966.05.25 |
Korea University |
|
Director |
Mr. |
Kim Soo-Young |
Korean |
1956.02. |
Seoul National University, Korea |
|
Director |
Mr. |
Lee Hyuck |
Korean |
1966.04. |
Gyemyung University, Korea |
|
Outside Director |
Mr. |
Yoon Kwang-Woon |
Korean |
1949.09.03 |
Chungang University |
|
Outside Director |
Mr. |
Ahn Duck-Kun |
Korean |
1967.02.28 |
Seogang University, Korea |
|
Auditor |
Mr. |
Kim Jeong-Ku |
Korean |
1966.10.21 |
Samil Accounting Company |
|
Auditor |
Mr. |
Yang Young-Jong |
Korean |
1961.12. |
Korea University, Korea |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
35,662,921,230 |
146,218,529,571 |
610,044,851 |
|
|
(*)2014 |
137,946,044,073 |
145,135,554,101 |
2,861,900,159 |
|
(*)2013 |
132,045,280,291 |
142,485,294,649 |
1,518,012,636 |
|
(*)2012 |
108,275,608,383 |
127,197,483,946 |
3,159,937,218 |
|
(*)2011 |
100,918,699,262 |
124,086,391,998 |
2,436,780,120 |
|
(*)2010 |
90,724,087,239 |
104,994,772,301 |
1,511,752,065 |
|
2009 |
67,389,205,385 |
96,227,231,370 |
1,483,631,960 |
|
2008 |
55,441,463,748 |
84,853,281,928 |
3,250,965,564 |
|
2007 |
47,096,071,631 |
52,267,245,881 |
25,268,327 |
|
2006 |
44,724,117,122 |
43,517,284,394 |
520,234,970 |
|
2005 |
51,474,876,450 |
42,982,532,071 |
6,099,463,938 |
|
2004 |
42,855,816,549 |
42,006,212,928 |
227,054,698 |
(*)Figures are based
on the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
100,000,000,000 |
|
Paid-Up Capital(KRW) |
19,676,654,000 |
|
Total Issued Shares |
39,353,308 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
01/01/2015~03/31/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Total Assets |
146,218,529,571 |
145,135,554,101 |
142,485,294,649 |
|
Current
Assets |
58,247,828,660 |
57,627,190,380 |
60,939,478,137 |
|
Cash & Cash Equivalents |
11,495,484,436 |
10,161,697,971 |
6,454,729,886 |
|
Current Financial Instruments |
5,193,417,519 |
4,510,000,000 |
7,410,000,000 |
|
Trade Receivables |
31,558,993,731 |
30,010,237,503 |
35,826,840,593 |
|
Advance Payments |
979,488,167 |
819,970,832 |
1,813,848,914 |
|
Prepaid Expenses |
83,812,158 |
119,345,626 |
70,776,757 |
|
Other Receivables |
995,569,831 |
1,050,965,459 |
1,003,353,534 |
|
Inventories |
7,941,062,818 |
10,954,972,989 |
8,359,928,453 |
|
Non-Current
Assets |
87,970,700,911 |
87,508,363,721 |
81,545,816,512 |
|
Non-Current Financial Instruments |
1,818,901,378 |
1,317,931,378 |
363,551,378 |
|
Marketable Financial Instruments |
239,295,000 |
239,295,000 |
278,728,148 |
|
Investment_Related Companies |
61,223,738,062 |
61,223,738,062 |
56,240,523,930 |
|
Other Receivables |
1,489,338,116 |
1,539,338,116 |
1,376,457,016 |
|
Tangibles |
23,098,909,874 |
23,087,542,684 |
23,186,037,559 |
|
Investment_Real Estate |
78,627,360 |
78,627,360 |
78,627,360 |
|
Intangibles |
878,671 |
878,671 |
878,671 |
|
Other Non-Current Assets |
21,012,450 |
21,012,450 |
21,012,450 |
|
Total
Liabilities |
101,254,415,496 |
98,653,967,217 |
97,062,605,237 |
|
Current
Liabilities |
79,110,901,252 |
76,183,553,771 |
80,447,090,152 |
|
Trade Payables |
17,990,638,285 |
17,029,436,810 |
5,976,993,892 |
|
Short-Term Borrowings |
50,408,013,887 |
50,083,705,151 |
63,436,904,667 |
|
Current Portion of Long-Term
Debts |
5,526,168,469 |
5,723,102,459 |
8,917,592,476 |
|
Deferred Income Tax Credit |
246,105,509 |
433,640,771 |
9,549,146 |
|
Accrued Dividends |
2,016,549,420 |
0 |
0 |
|
Advance Receipts |
389,779,501 |
407,221,525 |
558,504,542 |
|
Withholdings |
63,248,930 |
70,275,740 |
63,792,561 |
|
Other Payables |
2,470,397,251 |
2,436,171,315 |
1,483,752,868 |
|
Non-Current
Liabilities |
22,143,514,244 |
22,470,413,446 |
16,615,515,085 |
|
Debentures |
2,493,200,831 |
2,493,200,831 |
0 |
|
Long-Term Borrowings |
14,569,413,668 |
15,164,522,870 |
11,828,360,549 |
|
Provision for Severance &
Retirement |
1,084,804,737 |
816,594,737 |
729,407,244 |
|
Deferred Income Tax Credit |
3,996,095,008 |
3,996,095,008 |
4,057,747,292 |
|
Capital
Stock |
19,676,654,000 |
19,676,654,000 |
19,676,654,000 |
|
Capital Surplus |
244,674,433 |
244,674,433 |
244,674,433 |
|
Others |
-3,549,766,560 |
-3,549,766,560 |
-3,549,766,560 |
|
Installments |
14,777,395,668 |
14,777,395,668 |
14,777,395,668 |
|
Profit Surplus |
13,815,156,534 |
15,332,629,343 |
14,273,731,871 |
|
Total Equity |
44,964,114,075 |
46,481,586,884 |
45,422,689,412 |
|
Liab. & Shareholder’s Equity |
146,218,529,571 |
145,135,554,101 |
142,485,294,649 |
|
Income Statement |
|||
|
Unit : Korean Won |
01/01/2015~03/31/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Sales |
35,662,921,230 |
137,946,044,073 |
132,045,280,291 |
|
Cost of Sold Goods |
31,247,699,478 |
122,147,399,331 |
118,655,638,389 |
|
Gross Profit |
4,415,221,752 |
15,798,644,742 |
13,389,641,902 |
|
Selling & Admin. Expenses |
2,872,524,555 |
8,796,876,304 |
8,201,365,895 |
|
Operating Income |
1,542,697,197 |
7,001,768,438 |
5,188,276,007 |
|
Other Operating Income |
17,894,466 |
11,630,813 |
35,475,586 |
|
Other Operating Expenses |
22,834,154 |
4,904,420 |
13,047,338 |
|
Finance Income |
363,101,953 |
2,784,360,609 |
2,287,244,768 |
|
Finance Expenses |
1,245,214,476 |
6,325,398,834 |
5,729,179,643 |
|
Income Before Taxes |
655,644,986 |
3,467,456,606 |
1,768,769,380 |
|
Income Taxes Expenses |
45,600,135 |
605,556,447 |
250,756,744 |
|
Net Income |
610,044,851 |
2,861,900,159 |
1,518,012,636 |
|
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 |
3,243,547,394 |
20,006,547,996 |
-16,431,018,568 |
|
Net Income |
610,044,851 |
2,861,900,159 |
1,518,012,636 |
|
Adjustment |
1,147,452,059 |
4,781,222,976 |
4,735,976,208 |
|
Changes in Asset/ & Liability |
2,353,743,520 |
15,071,363,968 |
-18,866,850,395 |
|
Income Taxes |
-264,625,602 |
-161,155,649 |
-687,249,307 |
|
Interests Received |
91,250,089 |
332,709,452 |
276,219,652 |
|
Interests Paid |
-694,317,523 |
-2,885,048,130 |
-3,412,682,582 |
|
Dividends Received |
0 |
5,555,220 |
5,555,220 |
|
Cash Flows from Investing |
-1,348,404,010 |
-3,441,343,376 |
-5,026,710,906 |
|
Cash Flows from Financing |
-550,872,633 |
-12,855,874,953 |
15,592,810,795 |
|
Increase/Decrease in Cash |
1,333,786,465 |
3,706,968,085 |
-5,864,925,442 |
|
Cash at the Beginning of Year |
10,161,697,971 |
6,454,729,886 |
12,319,655,328 |
|
Cash at the End of Year |
11,495,484,436 |
10,161,697,971 |
6,454,729,886 |
|
Main Products & Services |
Chemical Blowing Agent, Plasticizer, Master Batch Brand Name CELLCOM |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
PVC, PE, EVA manufacturers |
|
Competitors |
DONGGU IND. CO., LTD. 350-1, MAJANG-RI, GWANGTAN-MYEON, PAJU-SI,
GYEONGGI-DO, KOREA TEL:+82-31-948-5381 FAX:+82-31-948-5387 YOO KWANG CHEMICAL CO., LTD. 190-1, YUSAN-DONG, YANGSAN-SI,
GYEONGSANGNAM-DO, KOREA TEL:+82-55-386-3101 FAX:+82-55-386-3221 ORION POLYTECH CO., LTD. RM. 208, WORLD MERIDIAN 1-CHA, 60-24,
GASAN-DONG, GEUMCHEON-GU, SEOUL, KOREA TEL:+82-2-2113-7550 FAX:+82-2-2113-7553 |
|
Affiliates |
ILOVESCHOOL JAPAN (50.0% held by the subject company) KJ INTERNATIONAL CO., LTD.(180111-0895160) |
|
Overseas Office |
|
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
|
|
Subsidiary |
KUMYANG CHEMICALS HONG KONG LTD. (100.0% held by the subject company) K&J CHEMICALS CO., LTD. (70.0% held by the subject company) KUMYANG CHEMICAL SHANGHAI CO., LTD. (100.0% held by the subject company) KUMYANG(LIANYUNGANG) CHEMICAL CO., LTD. (100.0% held by the subject company) KUMYANG USA INC. (100.0% held by the subject company) HAN DONG MAO YI (100.0% held by the subject company) KUMYANG CHEMICALS HONG KONG LTD. (100.0% held by the subject company) KUMYANG NEIMENGGU CHEMICAL CO., LTD. (100.0% held by the subject company) KUNMING KUMYANG CHEMICAL CO., LTD. (51.59 % held by
the subject company) KUMYANG AMERICA LTD. (100.0% held by the subject company) HANKUM NEIMENGGU CHEMICAL CO., LTD. (100.0% held by the subject company) |
|
Corporate Ownership |
|
|
Major Shareholders |
|
|
Cooperative Enterprise |
|
|
Sales/ Unit :Mil
KRW |
09/2012 |
2011 |
2010 |
|
Export |
57,537 |
68,753 |
62,372 |
|
Domestic |
27,742 |
32,166 |
28,352 |
|
Total |
85,279 |
100,919 |
90,724 |
The subject deals
with the companies in Asia, USA and European countries.
|
Case No. |
Court |
Plaintiff(s)/ Creditor(s)/ Applicant(s) |
Defendant(s)/ Debtor(s)/ Respondent(s) |
Cause |
Amount (KRW) |
Status |
|
2010 GAHAP 65431 |
|
Mitsui O.S.K Lines Ltd |
The Subject Company / Kumyang Chemicals (Shanghai) Co., Ltd. / Shanghai Yunhong
Transportation Co., Ltd. |
MOL |
USD 45,000,000.00 |
Proceeding |
|
2012 GAHAP 10287 |
|
Kim Young-Sam |
The Subject Company |
Loans |
10,365,419,000 |
Proceeding |
|
2013GAHAP 4321 |
|
HAPAG-LLOYD ACTIEN GESELLSCHAFT & Others(1) |
The Subject Company & Others(1) |
Claim for Compensation from Damages |
USD
1,390,763.08, SGD 33,763.26 |
Proceeding |
-------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.11 |
|
|
1 |
Rs.100.31 |
|
Euro |
1 |
Rs.72.17 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.