|
Report No. : |
328882 |
|
Report Date : |
23.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
SHINHAN PRECISION CO., LTD. |
|
|
|
|
Registered Office : |
73, Sanmakgongdanbuk 13-Gil, Yangsan-si,
Gyeongsangnam-do, Korea, 626-120, 1B-3L, Sanmak
Industrial Complex |
|
|
|
|
Country : |
South
Korea |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
22.11.1996 |
|
|
|
|
Com. Reg. No.: |
620-81-13837 |
|
|
|
|
Legal Form : |
Co., Ltd By Shares |
|
|
|
|
Line of Business : |
Manufacture of Molding Patterns, Moulds and Industrial Patterns |
|
|
|
|
No. of Employees : |
40 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but correct |
|
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 |
SHINHAN PRECISION CO., LTD. (Korean Company Name : “신한정밀공업(주)”) |
|
Registered Address |
73, Sanmakgongdanbuk 13-gil, Yangsan-si,
Gyeongsangnam-do, Korea |
|
Building |
1B-3L, Sanmak Industrial Complex |
|
Zip Code |
626-120 |
|
Tel |
+82-55-912-1110 |
|
Fax |
+82-55-912-1114 |
|
E-mail |
shptmold@empas.com |
|
Website |
www.shptmold.com |
|
Trading Address |
1B-3L, Sanmak Industrial Complex, 73, Sanmakgongdanbuk
13-gil, Yangsan-si, Gyeongsangnam-do, Korea (Old Address System : 1B-3L, Sanmak
Industrial Complex, 71-4, Sanmak-dong, Yangsan-si, Gyeongsangnam-do, Korea) |
|
Tel |
+82-55-912-1110 |
|
Fax |
+82-55-912-1114 |
|
Other Address |
|
|
Tel |
|
|
Fax |
|
|
Type |
Export/Import |
|
Industry |
Manufacture of Molding Patterns, Moulds and Industrial Patterns |
|
Main Business |
Die Casting Mold, Mold Base |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
11/22/1996 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Machining services(73181000) |
|
Sell |
Foundry molds(23161606) |
|
Name |
Kim Jin-Hong |
|
Address |
Suite 101-1507, 5, 5, Tongdosa-ro,
Habuk-myeon, Yangsan-si, Gyeongsangnam-do, Korea |
|
Date of Birth |
02/29/1960 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
514,000,000 |
||||||||||||
|
Employees |
40 |
||||||||||||
|
Formation |
Co., Ltd by Shares |
||||||||||||
|
Bank Details |
Korea Development Bank-Yangsan Branch Industrial Bank of Korea Hana Bank Kookmin Bank |
||||||||||||
|
Corporate Registered No. |
1812110-040390 |
||||||||||||
|
Business Registered No. |
620-81-13837 |
||||||||||||
|
Permit & Licenses |
07/08/2008 ISO 9001 |
||||||||||||
|
Shareholder Position |
|
||||||||||||
|
Company History |
11/20/1995 Established as SHINHAN
PRECISION CO.(Sole Proprietorship) 11/22/1996 Incorporated as the present name 05/16/2012 Moved to the present HQ address from
1222, Joil-ri, Samdong-myeon, Ulju-gun, Ulsan, Korea 04/24/2014 Designated as a MAIN BIZ Company |
||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Kim Jin-Hong |
Male |
Korean |
11/09/2010 |
|
Director |
Mr. |
Kim Soo-Cheol |
Male |
Korean |
11/09/2010 |
|
Director |
M/S. |
Lee Sook-Hee |
Female |
Korean |
11/09/2010 |
|
Auditor |
Mr. |
Kim Ok-Yeon |
Male |
Korean |
11/09/2010 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
10,122,211,000 |
12,740,311,281 |
-206,601,595 |
|
|
2013 |
9,877,273,950 |
11,024,682,722 |
-247,257,581 |
|
2012 |
6,603,928,365 |
9,942,789,786 |
-166,623,106 |
|
2011 |
7,355,855,000 |
7,275,844,000 |
320,388,000 |
|
2010 |
4,865,858,000 |
5,307,684,000 |
286,616,000 |
|
2009 |
3,968,000,000 |
4,518,000,000 |
203,000,000 |
|
2008 |
4,992,000,000 |
3,292,000,000 |
238,000,000 |
|
2007 |
2,311,000,000 |
2,474,000,000 |
82,000,000 |
|
2006 |
2,657,547,000 |
2,507,934,000 |
76,042,000 |
|
2005 |
2,316,000,000 |
2,592,000,000 |
73,000,000 |
|
Authorized Capital(KRW) |
1,500,000,000 |
|
Paid-Up Capital(KRW) |
514,000,000 |
|
Total Issued Shares |
51,400(Common : 38,000 / Preferable : 13,400) |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total Assets |
12,740,311,281 |
11,024,682,722 |
9,942,789,786 |
|
Current Assets |
5,746,016,119 |
4,431,908,679 |
3,590,381,626 |
|
-Quick Assets |
2,316,721,179 |
2,502,105,679 |
2,457,415,046 |
|
-Inventories |
3,429,294,940 |
1,929,803,000 |
1,132,966,580 |
|
Fixed Assets |
6,994,295,162 |
6,592,774,043 |
6,352,408,160 |
|
-Investment |
40,625,237 |
6,414,910 |
1,500,000 |
|
-Tangibles |
6,744,562,885 |
6,529,122,093 |
6,088,747,808 |
|
-Intangibles |
|
|
15,823,312 |
|
-Others |
209,107,040 |
57,237,040 |
246,337,040 |
|
Total Liabilities |
11,849,805,101 |
9,926,285,274 |
8,949,631,317 |
|
Current Liabilities |
5,966,659,421 |
6,113,127,241 |
2,458,955,406 |
|
Fixed Liabilities |
5,883,145,680 |
3,813,158,033 |
6,490,675,911 |
|
Capital Stock |
514,000,000 |
514,000,000 |
514,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
25,299,293 |
231,900,888 |
479,158,469 |
|
Capital Adjustment |
351,206,887 |
352,496,560 |
- |
|
Total Equity |
890,506,180 |
1,098,397,448 |
993,158,469 |
|
Liab. & Shareholder’s Equity |
12,740,311,281 |
11,024,682,722 |
9,942,789,786 |
|
Current
Liabilities |
5,966,659,421 |
6,113,127,241 |
2,458,955,406 |
|
Trade Payables |
2,645,018,621 |
1,873,914,003 |
2,043,622,626 |
|
Short-Term Borrowings |
811,974,019 |
756,471,314 |
119,111,919 |
|
Current Portion of Long-Term Debts |
682,570,000 |
2,264,635,550 |
- |
|
Advance Receipts |
827,940,000 |
91,970,000 |
- |
|
Unearned Income |
208,000,000 |
180,000,000 |
- |
|
Account Payables |
370,474,116 |
588,010,552 |
32,070,792 |
|
Withholdings |
61,635,970 |
18,515,456 |
23,802,306 |
|
Accrued Expenses |
217,264,644 |
189,546,911 |
176,549,546 |
|
VAT Withhold |
141,782,051 |
150,063,455 |
63,798,217 |
|
Fixed
Liabilities |
5,883,145,680 |
3,813,158,033 |
6,490,675,911 |
|
Long-Term Borrowings |
4,901,986,883 |
3,139,900,000 |
5,200,783,915 |
|
Long-Term Account Payables |
170,321,669 |
36,530,983 |
853,129,618 |
|
Provision for Severance & Retirement |
810,837,128 |
636,727,050 |
436,762,378 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
10,122,211,000 |
9,877,273,950 |
6,603,928,365 |
|
Cost of Sold Goods |
8,610,928,279 |
8,396,197,984 |
5,995,756,968 |
|
Gross Profit |
1,511,282,721 |
1,481,075,966 |
608,171,397 |
|
Selling & Admin. Expenses |
1,376,217,519 |
1,365,030,835 |
699,626,096 |
|
Operating Income |
135,065,202 |
116,045,131 |
(91,454,699) |
|
Non-Operating Income |
97,707,355 |
37,140,636 |
409,732,871 |
|
Non-Operating Expenses |
439,374,152 |
395,177,248 |
445,136,908 |
|
Income Before Taxes |
-206,601,595 |
-241,991,481 |
-126,858,736 |
|
Income Taxes Expenses |
- |
5,266,100 |
39,764,370 |
|
Net Income |
-206,601,595 |
-247,257,581 |
-166,623,106 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Cash Flows from Operating |
357,936,226 |
406,398,530 |
296,923,039 |
|
-Net Income |
-206,601,595 |
-247,257,581 |
-166,623,106 |
|
-Exp. without Cash Outflow |
783,373,999 |
761,143,728 |
681,470,597 |
|
-Revenue without Cash Inflows |
-23,422,590 |
-63,735 |
-382,847,321 |
|
-Changes in Asset/ & Liability |
-195,413,588 |
-107,423,882 |
164,922,869 |
|
Cash Flows from Investing |
-609,742,939 |
-687,204,805 |
-2,644,087,401 |
|
-Cash Inflow from Investing |
711,044,666 |
318,476,757 |
860,512,343 |
|
-Cash Outflows for Investing |
-1,320,787,605 |
-1,005,681,562 |
-3,504,599,744 |
|
Cash Flows from Financing |
392,571,924 |
245,112,395 |
1,951,205,612 |
|
-Cash Inflows from Financing |
4,144,835,217 |
1,256,022,949 |
4,702,191,255 |
|
-Cash Outflows from Financing |
-3,752,263,293 |
-1,010,910,554 |
-2,750,985,643 |
|
Increase/Decrease in Cash |
140,765,211 |
-35,693,880 |
-395,958,750 |
|
Cash at the Beginning of Year |
10,719,693 |
46,413,573 |
442,372,323 |
|
Cash at the End of Year |
151,484,904 |
10,719,693 |
46,413,573 |
|
Main Products & Services |
Die Casting Mold, Mold Base |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
GM KOREA COMPANY(120111-0294124) ECOMISSION CO., LTD.(131311-0099238) KONEC CO., LTD.(161411-0012696) |
|
Competitors |
SAE HWA METAL IND. CO., LTD. 1042, SONGGOK-RI, DASAN-MYEON,
GORYEONG-GUN, GYEONGSANGBUK-DO, KOREA TEL:+82-54-956-8100~3 FAX:+82-54-956-8104 YKK KOREA CO., LTD. 20TH FL., INTERNATIONAL INSURANCE BLDG.,
120, NAMDAEMUNNO 5-GA, JUNG-GU, SEOUL, KOREA TEL:+82-2-3705-7900 FAX:+82-2-3705-7993 SEOKWANG HI-TECH CO., LTD. B-204, TECHNOPARK BLDG., 148, YATAP-DONG,
BUNDANG-GU, SEONGNAM-SI, GYEONGGI-DO, KOREA TEL:+82-31-707-1811 FAX:+82-31-707-1818 |
|
Cooperative Enterprise |
-Insured Company SAMSUNG FIRE & MARINE INSURANCE CO., LTD.(110111-0005078) |
Not Available.
No.
--------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.50 |
|
|
1 |
Rs.100.94 |
|
Euro |
1 |
Rs.72.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
SAN |
|
|
|
|
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.