|
Report No. : |
323051 |
|
Report Date : |
16.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
ORION ENGINEERED CARBONS CO., LTD. |
|
|
|
|
Registered Office : |
310-88, Jindallae-gil, Yeosu-si, Jeollanam-do |
|
|
|
|
Country : |
Korea (South) |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
18.12.1988 |
|
|
|
|
Com. Reg. No.: |
417-81-17523 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Manufacture of Other Basic Inorganic Chemicals, Carbon Black, Rubber
Blacks, Specialty Blacks, Power Generation |
|
|
|
|
No. of Employee : |
188 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Korea (South) |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
KOREA (SOUTH) ECONOMIC OVERVIEW
South Korea over the past four decades has demonstrated incredible 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. Initially, a system of close government and business ties, including directed credit and import restrictions, 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 6.9% 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 6.3% growth in 2010. The US-Korea Free Trade Agreement was ratified by both governments in 2011 and went into effect in March 2012. Throughout 2012 and 2013 the economy experienced sluggish growth because of market slowdowns in the United States, China, and the Eurozone. The administration in 2014 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 heavy reliance on exports, which comprise about half of GDP.
|
Source
: CIA |
|
Company Name |
ORION ENGINEERED CARBONS CO., LTD. (Korean Company Name : “오리온엔지니어드카본즈(주)”) |
|
Registered Address |
310-88, Jindallae-gil, Yeosu-si, Jeollanam-do, Korea |
|
Building |
|
|
Zip Code |
555-260 |
|
Tel |
+82-61-690-5114 |
|
Fax |
+82-61-690-5280 |
|
E-mail |
|
|
Website |
|
|
Trading Address |
310-88, Jindallae-gil, Yeosu-si, Jeollanam-do, Korea (Old Address System : 350, Wolnae-dong, Yeosu-si, Jeollanam-do, Korea) |
|
Tel |
+82-61-690-5114 |
|
Fax |
+82-61-690-5280 |
|
Other Address-Bupyeong Factory |
238, Jubuto-ro, Bupyeong-gu, Incheon, Korea (Old Address System : 94, Galsan 1-dong, Bupyeong-gu, Incheon, Korea) |
|
Tel |
+82-32-510-6114 |
|
Fax |
+82-32-527-8065 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Other Basic Inorganic Chemicals |
|
Main
Business |
Carbon Black, Rubber Blacks, Specialty Blacks, Power Generation |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
12/18/1998 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Thermal power plants(26131510) |
|
Sell |
Carbon black(12171603) |
|
Name |
Kong Sung-Do |
|
Address |
Suite 502, 154, Dokseodang-ro,
Seongdong-gu, Seoul, Korea |
|
Date of Birth |
03/28/1962 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
108,150,000,000 |
|||||||||
|
Employees |
188 |
|||||||||
|
Formation |
Co., Ltd by Shares Foreign Direct Investment Corporation |
|||||||||
|
Bank Details |
Korea Exchange Bank |
|||||||||
|
Corporate Registered No. |
206211-0014387 |
|||||||||
|
Business Registered No. |
417-81-17523 |
|||||||||
|
Permit & Licenses |
11/06/2001 OHSAS 18001 12/01/2001 KOSHA 18001 Int’l Trade No.: 11587206 |
|||||||||
|
Shareholder Position |
|
|||||||||
|
Company History |
12/18/1998 Incorporated as Korea Carbon
Black Co., Ltd. 12/23/1998 Registered as a Foreign Direct
Investment Corporation 10/24/2007 Changed company name to Evonik Carbon
black Korea Co., Ltd. 12/31/1998 Acquired Carbon Business from LG
Chem Ltd. 08/01/2011 Changed company name to the
present name |
|||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Kong Sung-Do |
Male |
Korean |
04/15/2014 |
|
Director |
Mr. |
Jorg Kruger |
Male |
German |
10/02/2012 |
|
Director |
Mr. |
Hwang Yoon-Tae |
Male |
Korean |
11/22/2012 |
|
Director |
Mr. |
Rick Sing Min |
Male |
USA |
04/01/2013 |
|
Auditor |
Mr. |
Jung Kyu-Sun |
Male |
Korean |
03/22/2011 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2013 |
387,860,585,824 |
223,019,985,328 |
21,916,396,047 |
|
2012 |
414,614,384,384 |
221,249,125,036 |
21,837,216,112 |
|
2011 |
389,213,664,760 |
212,470,369,800 |
17,682,315,918 |
|
2010 |
347,051,056,253 |
220,466,498,692 |
28,417,369,213 |
|
2009 |
279,981,565,128 |
196,249,708,697 |
15,617,500,099 |
|
2008 |
309,987,049,139 |
224,949,514,717 |
13,794,998,688 |
|
Authorized Capital(KRW) |
200,000,000,000 |
|
Paid-Up Capital(KRW) |
108,150,000,000 |
|
Total Issued Shares |
10,815,000 |
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Total Assets |
223,019,985,328 |
221,249,125,036 |
212,470,369,800 |
|
Current Assets |
103,421,448,624 |
111,280,869,904 |
126,085,791,169 |
|
-Quick Assets |
69,980,584,883 |
76,238,275,341 |
81,214,996,215 |
|
-Inventories |
33,440,863,741 |
35,042,594,563 |
44,870,794,954 |
|
Fixed Assets |
119,598,536,704 |
109,968,255,132 |
86,384,578,631 |
|
-Investment |
2,191,583,932 |
2,482,697,090 |
2,788,109,633 |
|
-Tangibles |
116,389,953,168 |
106,514,075,469 |
82,179,137,133 |
|
-Intangibles |
10,835,261 |
17,274,343 |
15,787,982 |
|
-Others |
1,006,164,343 |
954,208,230 |
1,401,543,883 |
|
Total Liabilities |
68,127,769,602 |
72,721,335,357 |
45,764,296,233 |
|
Current Liabilities |
66,922,220,494 |
70,968,700,155 |
43,456,348,916 |
|
Fixed Liabilities |
1,205,549,108 |
1,752,635,202 |
2,307,947,317 |
|
Capital Stock |
108,150,000,000 |
108,150,000,000 |
108,150,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
46,742,215,726 |
40,377,789,679 |
58,556,073,567 |
|
Capital Adjustment |
|
|
|
|
Total Equity |
154,892,215,726 |
148,527,789,679 |
166,706,073,567 |
|
Liab. & Shareholder’s Equity |
223,019,985,328 |
221,249,125,036 |
212,470,369,800 |
|
Current Liabilities |
66,922,220,494 |
70,968,700,155 |
43,456,348,916 |
|
Trade Payables |
35,161,759,193 |
15,825,872,213 |
7,597,653,644 |
|
Account Payables |
18,423,735,165 |
25,740,643,188 |
2,752,542,517 |
|
Withholdings |
1,588,951,917 |
1,146,826,052 |
2,246,460,252 |
|
Advance Receipts |
42,337,877 |
77,143,902 |
66,989 |
|
Accrued Expenses |
7,852,692,750 |
28,071,325,021 |
30,627,780,515 |
|
Derivatives |
802,743,592 |
106,889,779 |
231,844,999 |
|
Accrued Income Tax |
3,050,000,000 |
- |
|
|
Fixed Liabilities |
1,205,549,108 |
1,752,635,202 |
2,307,947,317 |
|
Provision for Severance & Retirement |
1,205,549,108 |
1,380,944,872 |
1,718,612,648 |
|
Deferred Income Tax Credit |
- |
371,690,330 |
589,334,669 |
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Sales |
387,860,585,824 |
414,614,384,384 |
389,213,664,760 |
|
Cost of Sold Goods |
338,240,907,511 |
368,235,612,299 |
351,944,234,392 |
|
Gross Profit |
49,619,678,313 |
46,378,772,085 |
37,269,430,368 |
|
Selling & Admin. Expenses |
21,825,262,012 |
19,001,526,086 |
15,617,884,539 |
|
Operating Income |
27,794,416,301 |
27,377,245,999 |
21,651,545,829 |
|
Non-Operating Income |
11,662,066,480 |
11,269,602,159 |
14,148,166,113 |
|
Non-Operating Expenses |
11,268,944,204 |
10,586,541,468 |
12,994,906,926 |
|
Income Before Taxes |
28,187,538,577 |
28,060,306,690 |
22,804,805,016 |
|
Income Taxes Expenses |
6,271,142,530 |
6,223,090,578 |
5,122,489,098 |
|
Net Income |
21,916,396,047 |
21,837,216,112 |
17,682,315,918 |
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Cash Flows from Operating |
24,885,543,039 |
65,373,748,968 |
-9,600,355,547 |
|
-Net Income |
21,916,396,047 |
21,837,216,112 |
17,682,315,918 |
|
-Exp. without Cash Outflow |
10,662,481,025 |
8,426,390,249 |
8,717,792,094 |
|
-Revenue without Cash Inflows |
-789,086,378 |
-323,711,025 |
-308,183,887 |
|
-Changes in Asset/ & Liability |
-6,904,247,655 |
35,433,853,632 |
-35,692,279,672 |
|
Cash Flows from Investing |
-18,804,630,585 |
-30,729,432,710 |
-6,875,845,180 |
|
-Cash Inflow from Investing |
890,386,483 |
1,621,323,543 |
997,911,516 |
|
-Cash Outflows for Investing |
-19,695,017,068 |
-32,350,756,253 |
-7,873,756,696 |
|
Cash Flows from Financing |
-12,501,970,000 |
-40,015,500,000 |
- |
|
-Cash Inflows from Financing |
439,235,000,000 |
- |
- |
|
-Cash Outflows from Financing |
-451,736,970,000 |
-40,015,500,000 |
- |
|
Increase/Decrease in Cash |
-6,421,057,546 |
-5,371,183,742 |
-16,476,200,727 |
|
Cash at the Beginning of Year |
6,473,962,598 |
11,845,146,340 |
28,321,347,067 |
|
Cash at the End of Year |
52,905,052 |
6,473,962,598 |
11,845,146,340 |
|
Main Products & Services |
Carbon Black, Rubber Blacks, Specialty Blacks, Power Generation |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Competitors |
COLUMBIAN CHEMICALS KOREA CO., LTD. 46-101, YEOSUSANDAN 2-RO, YEOSU-SI,
JEOLLANAM-DO, KOREA TEL:+82-61-688-3333 FAX:+82-61-688-3315 OCI CO., LTD. 50, SOGONG-DONG, JUNG-GU, SEOUL, KOREA TEL:+82-2-727-9500 FAX:+82-2-773-0615 KYUNGWOO CORPORATION RM. 910, WOOLIM E-BIZ CENTER 2-CHA, 16,
YANGPYEONG-DONG 3-GA, YEONGDEUNGPO-GU, SEOUL, KOREA TEL:+82-2-2164-8380 FAX:+82-2-2164-8384 |
|
Affiliates |
KINOVE LUXEMBOURG HOLDINGS 1 S. A R L. KINOVE LUXEMBOURG HOLDINGS 2 S. A R L. ORION ENGINEERED CARBONS HOLDINGS GMBH ORION ENGINEERED CARBONS BONDCO GMBH ORION ENGINEERED CARBONS GMBH ORION ENGINEERED CARBONS INTERNATIONAL GMBH ORION ENGINEERED CARBONS KOREA CO., LTD.(206211-0044061) ORION ENGINEERED CARBONS KK, ORION ENGINEERED CARBONS S.R.L |
|
Overseas Office |
ORION ENGINEERED CARBONS LLC 4501 MAGNOLIA COVE DRIVE SUITE 106 KINGWOOD,
TX 77345 USA TEL:+1 832 445 3300 ORION ENGINEERED CARBONS GMBH HAHNSTRAßE 49 60528 FRANKFURT A. M.,
GERMANY TEL:+49 69 36 50 54 100 ORION ENGINEERED CARBONS TRADING (SHANGHAI)
CO.,LTD. ROOM 3701-3702 BM INTERCONTINENTAL BUSINESS
CENTER 100 YUTONG ROAD SHANGHAI, CHINA 200070 TEL:+86 21 6107 0966 |
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
|
|
Subsidiary |
|
|
Corporate Ownership |
KINOVE LUXEMBOURG HOLDINGS 1 S. A R L. KINOVE LUXEMBOURG HOLDINGS 2 S. A R L. ORION ENGINEERED CARBONS HOLDINGS GMBH ORION ENGINEERED CARBONS BONDCO GMBH ORION ENGINEERED CARBONS GMBH ORION ENGINEERED CARBONS INTERNATIONAL GMBH ORION ENGINEERED CARBONS KOREA CO., LTD.(206211-0044061) |
|
Major Shareholders |
ORION ENGINEERED CARBONS KOREA CO., LTD.(206211-0044061) |
|
Cooperative Enterprise |
-Insured Company LIG INSURANCE CO., LTD.(110111-0017859) -Purchasing Agreement with ORION ENGINEERED CARBONS GMBH -Technical Consulting Services Agreement with ORION ENGINEERED CARBONS GMBH -Management Service agreement with ORION ENGINEERED CARBONS GMBH ORION ENGINEERED CARBONS LLC |
The Subject deals with the companies in
Germany.
No.
-------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.57 |
|
|
1 |
Rs.100.30 |
|
Euro |
1 |
Rs.72.37 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.