|
Report No. : |
329073 |
|
Report Date : |
23.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
VATECH
GLOBAL CO., LTD. |
|
|
|
|
Registered Office : |
13, Samsung 1-Ro 2-Gil, Hwaseong-Si, Gyeonggi-Do, Korea 445-170 |
|
|
|
|
Country : |
South
Korea |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
12.04.2011 |
|
|
|
|
Com. Reg. No.: |
220-88-15920 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Wholesale of Medical, Precision and Scientific Instruments and
Equipment |
|
|
|
|
No. of Employees : |
57 |
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 |
VATECH GLOBAL CO., LTD. |
|
Registered Address |
13, Samsung 1-ro 2-gil, Hwaseong-si,
Gyeonggi-do, Korea |
|
Building |
-- |
|
Zip Code |
445-170 |
|
Tel |
+82-31-323-8639 |
|
Fax |
+82-31-8015-0054 |
|
E-mail |
sales@vatechglobal.com |
|
Website |
www.vatechglobal.com |
|
|
|
|
Trading Address |
13, Samsung 1-ro 2-gil, Hwaseong-si,
Gyeonggi-do, Korea (Old Address System : 23-4, Seoku-dong, Hwaseong-si,
Gyeonggi-do, Korea) |
|
Tel |
+82-31-323-8639 |
|
Fax |
+82-31-8015-0054 |
|
|
|
|
Type |
Export |
|
Industry |
Wholesale of Medical, Precision and Scientific Instruments and
Equipment |
|
Main Business |
Digital Dental X-Ray, 3D Imaging Systems,
Intra-oral Imaging Systems, Software |
|
|
|
|
Established (mm/dd/yyyy) |
04/12/2011 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Medical x ray units for general diagnostic use(42201815) |
|
Sell |
Medical diagnostic x ray products(42201800) |
|
Name |
Park Soo-Geun |
|
Address |
Suite 202-201, 115-16, Gugal-ro,
Giheung-gu, Yongin-si, Gyeonggi-do, Korea |
|
Date of Birth |
09/15/1963 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
2,629,024,500 |
|||||||||
|
Employees |
57 |
|||||||||
|
Formation |
Co., Ltd by Shares |
|||||||||
|
Bank Details |
Industrial Bank of Korea Woori Bank |
|||||||||
|
Corporate Registered No. |
110111-4578328 |
|||||||||
|
Business Registered No. |
220-88-15920 |
|||||||||
|
Permit & Licenses |
Int’l Trade No.: 45432118 |
|||||||||
|
Shareholder Position |
|
|||||||||
|
Company History |
04/12/2011 Incorporated as the present name 10/21/2013 Moved to the pre4m HQ address
from 17FL., KAMCO Yangjae Bldg.,
949-3, Dogok-dong, Gangnam-gu, Seoul, Korea |
|||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Park Soo-Geun |
Male |
Korean |
06/18/2012 |
|
Director |
Mr. |
Jang Eun-Seok |
Male |
Korean |
03/31/2014 |
|
Director |
Mr. |
Kim Sung-Joon |
Male |
Korean |
03/31/2014 |
|
Auditor |
Mr. |
Lee Byung-Nam |
Male |
Korean |
03/31/2014 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2014 |
87,726,649,483 |
72,559,781,119 |
2,136,278,391 |
|
2013 |
86,094,028,694 |
71,952,764,994 |
53,572,187 |
|
2012 |
87,330,134,653 |
71,031,030,508 |
1,130,349,562 |
|
2011 |
54,257,184,445 |
44,554,295,333 |
-3,192,466,092 |
|
Authorized Capital(KRW) |
10,500,000,000 |
|
Paid-Up Capital(KRW) |
2,629,024,500 |
|
Total Issued Shares |
5,258,049 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total
Assets |
72,559,781,119 |
71,952,764,994 |
71,031,030,508 |
|
Current Assets |
69,983,714,152 |
69,176,174,437 |
67,116,173,196 |
|
Cash
& Cash Equivalents |
34,515,270 |
1,020,511 |
2,500,236,938 |
|
Trade
Receivables |
62,238,803,342 |
59,251,386,885 |
53,391,803,756 |
|
Other
Receivables |
89,169,144 |
93,045,325 |
20,273,884 |
|
Inventories |
7,110,370,240 |
9,382,448,044 |
10,533,156,755 |
|
Other
Current Assets |
510,856,156 |
448,273,672 |
670,701,863 |
|
Non-Current Assets |
2,576,066,967 |
2,776,590,557 |
3,914,857,312 |
|
Other Long-Term Receivables |
495,287,938 |
225,108,720 |
542,654,874 |
|
Tangibles |
177,793,493 |
105,416,208 |
177,042,529 |
|
Investment_Subsidiaries |
718,582,189 |
1,148,944,732 |
2,150,195,590 |
|
Deferred
Income Tax Assets |
1,184,403,347 |
1,297,120,897 |
1,044,964,319 |
|
Total Liabilities |
68,415,752,466 |
69,804,907,254 |
69,032,517,112 |
|
Current Liabilities |
66,952,995,414 |
68,553,336,045 |
67,852,955,415 |
|
Trade
Payables |
58,842,698,035 |
60,225,543,903 |
58,913,170,379 |
|
Other Payables |
1,381,213,658 |
1,051,247,033 |
1,263,907,385 |
|
Short-Term
Borrowings |
6,289,666,629 |
6,634,167,328 |
6,241,069,359 |
|
Other
Current Liabilities |
172,468,154 |
279,772,931 |
1,012,498,908 |
|
Deferred
Income Tax Credit |
266,948,938 |
362,604,850 |
422,309,384 |
|
Non-Current Liabilities |
1,462,757,052 |
1,251,571,209 |
1,179,561,697 |
|
Confirmed
Salaries |
1,245,906,098 |
881,055,065 |
956,069,197 |
|
Other Long-Term Payables |
19,500,000 |
19,500,000 |
19,500,000 |
|
Provisions |
197,350,954 |
351,016,144 |
203,992,500 |
|
Capital Stock |
2,629,024,500 |
2,629,024,500 |
2,629,024,500 |
|
Capital
Surplus |
1,548,055,988 |
1,548,055,988 |
1,548,055,988 |
|
Profit
Surplus |
-33,051,835 |
-2,029,222,748 |
-2,178,567,092 |
|
Total
Equity |
4,144,028,653 |
2,147,857,740 |
1,998,513,396 |
|
Liab.
& Shareholder’s Equity |
72,559,781,119 |
71,952,764,994 |
71,031,030,508 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
87,726,649,483 |
86,094,028,694 |
87,330,134,653 |
|
Cost
of Sold Goods |
-70,204,660,130 |
-71,718,868,449 |
-75,192,285,073 |
|
Gross
Profit |
17,521,989,353 |
14,375,160,245 |
12,137,849,580 |
|
Selling
& Admin. Expenses |
-10,382,437,271 |
-12,935,278,758 |
-10,988,760,621 |
|
Operating
Income |
7,139,552,082 |
1,439,881,487 |
1,149,088,959 |
|
Other
Income |
4,533,270,773 |
3,862,383,065 |
4,890,480,890 |
|
Other
Expenses |
-7,991,181,159 |
-3,679,760,767 |
-4,101,043,654 |
|
Finance
Income |
18,903,484 |
88,513,309 |
100,350,318 |
|
Finance
Expenses |
-444,608,914 |
-363,059,041 |
-280,585,781 |
|
Profits
from Investment on Related Companies |
-535,662,543 |
-1,297,110,858 |
-419,763,984 |
|
Income
Before Taxes |
2,720,273,723 |
50,847,195 |
1,338,526,748 |
|
Income
Taxes Expenses |
-583,995,332 |
2,724,992 |
-208,177,186 |
|
Net
Income |
2,136,278,391 |
53,572,187 |
1,130,349,562 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Operating Activities Cash Flows |
619,278,466 |
-2,649,290,533 |
401,134,615 |
|
Cash
Flows from Operating |
1,547,863,496 |
-2,091,167,993 |
565,001,762 |
|
Interests
Received |
213,283 |
3,639,356 |
18,955,442 |
|
Interests
Paid |
-401,382,113 |
-225,613,116 |
-195,523,679 |
|
Income
Taxes |
-527,416,200 |
-336,148,780 |
12,701,090 |
|
Cash
Flows from Investing |
-230,015,090 |
-245,908,660 |
-1,336,872,132 |
|
Cash
Flows from Financing |
-354,460,406 |
395,982,766 |
3,394,477,542 |
|
Increase/Decrease
in Cash |
34,802,970 |
-2,499,216,427 |
2,458,740,025 |
|
Cash
at the Beginning of Year |
1,020,511 |
2,500,236,938 |
41,496,913 |
|
Cash
at the End of Year |
34,515,270 |
1,020,511 |
2,500,236,938 |
|
Main Products & Services |
Digital Dental X-Ray, 3D Imaging Systems,
Intra-oral Imaging Systems, Software |
|
Competitors |
KOREA I.T.S CO., LTD. 4TH FL., SEOIL BLDG., 222, JAMSILBON-DONG,
SONGPA-GU, SEOUL, KOREA TEL:+82-2-540-4360 FAX:+82-2-544-4456 PACSUN CO., LTD. 52B-11L, 2-2-DANJI, 587-8, DAECHEON-DONG,
DALSEO-GU, DAEGU, KOREA TEL:+82-53-581-5421 FAX:+82-53-581-5427 YOUNGHAN X-RAY CO., LTD. 396-12, CHEONGCHEON 2-DONG, BUPYEONG-GU,
INCHEON, KOREA TEL:+82-32-554-0871~5 FAX:+82-32-544-5832 |
|
Affiliates-Domestic |
VATECH CO., LTD.(134111-0036348) VATECH KOREA CO., LTD.(110111-4171718) VATECH EWOO HOLDINGS CO., LTD.(134511-0087814) VATECH HUMANRAY CO., LTD.(134811-0191875) VATECHENG CO., LTD(134811-0191792) RAYENCE CO., LTD.(134811-0216516) VATECH SERVICE & CULTURE(134511-0065696) EWOO SOFT CO., LTD.(131111-0331634) WOORIEN CO., LTD.(134811-0255697) |
|
Affiliates-Overseas |
VATECH CHINA CO., LTD. VATECH ASIA HQ PTE. LTD. VATECH AMERICA INC. VATECH DENTAL MANUFACTURING LTD. VATECH SPAIN S.L. VATECH FRANCE CO., LTD. RAYENCE INC. |
|
Subsidiary |
VATECH EUROPE HQ GMBH(GERMANY) (100.0% held by the subject company) VATECH GLOBAL ASIA HQ SDN.BHD(MALAYSIA) (100.0% held by the subject company) VATECH
BRASIL EQUIP DE ODONT & MEDICINA, IMP, DITRIB(BRAZIL) (100.0% held by the subject company) VATECH GLOBAL MEXICO(MEXICO) (100.0% held by the subject company) VATECH MEDICAL PTY LTD.(AUSTRALIA) (100.0% held by the subject company) VATECH MEDICAL CO., LTD.(TAIWAN) (100.0% held by the subject company) |
|
Corporate Ownership |
VATECH EWOO HOLDINGS CO., LTD.(134511-0087814) VATECH CO., LTD.(134111-0036348) |
|
Major Shareholders |
VATECH CO., LTD.(134111-0036348) |
The Subject deals
with the companies in Germany, Malaysia, Brazil, Mexico, Australia and Taiwan.
No.
-------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.51 |
|
|
1 |
Rs.100.94 |
|
Euro |
1 |
Rs.72.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
SAN |
|
|
|
|
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.