|
Report No. : |
323857 |
|
Report Date : |
22.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
KOLON FASHION MATERIAL INC. |
|
|
|
|
Registered Office : |
13, Kolon-ro, Gwacheon-si, Gyeonggi-do, Korea, 8FL., Kolon Tower, 427-709 |
|
|
|
|
Country : |
Korea
(South) |
|
|
|
|
Financials (as on) : |
31.03.2015 |
|
|
|
|
Date of Incorporation : |
03.03.2008 |
|
|
|
|
Com. Reg. No.: |
138-81-44919 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Synthetic Fibers |
|
|
|
|
No. of Employees : |
385 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Korea
(South) |
|
|
|
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 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 |
KOLON FASHION
MATERIAL INC. |
|
Registered Address |
13, Kolon-ro, Gwacheon-si, Gyeonggi-do, Korea |
|
Building |
8FL., Kolon Tower |
|
Zip Code |
427-709 |
|
Tel |
+82-2-3677-3706 +82-2-3677-3672 |
|
Fax |
+82-2-3677-3989 |
|
E-mail |
joohan76@kolon.com |
|
Website |
www.kolonfm.com |
|
Trading Address |
8~9FL., Kolon Tower, 13, Kolon-ro,
Gwacheon-si, Gyeonggi-do, Korea (Old Address System : 8~9FL., Kolon Tower,
1-22, Byeoryang-dong, Gwacheon-si, Gyeonggi-do, Korea) |
|
Tel |
+82-2-3677-3745 |
|
Fax |
+82-2-3677-3989 |
|
Other Address-Gimcheon Factory |
1019, Eungmyeong-dong, Gimcheon-si,
Gyeongbuk, Korea |
|
Tel |
+82-54-429-7391 |
|
Fax |
|
|
Other Address-Gumi Factory |
212, Gongdan-dong, Gumi-si, Gyeongbuk, Korea |
|
Tel |
+82-54-469-3495 |
|
Fax |
|
|
Other Address-Daegu Factory |
1217, Chimsan-dong, Buk-gu, Daegu, Korea |
|
Tel |
+82-53-350-5501 |
|
Fax |
|
|
Other Address-Youngnam Office |
8FL., Textile Bldg., Dongsan-dong,
Jung-gu, Daegu, Korea |
|
Tel |
+82-53-253-0351 |
|
Fax |
|
|
Type |
Export |
|
Industry |
Manufacture of Synthetic Fibers |
|
Main Business |
Nylon Yarns, Polyester Yarns |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
03/03/2008 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Nylon thread(11151608) |
|
Sell |
Polyester yarn(11151703) |
|
Sell |
Synthetic yarn(11151709) |
|
Sell |
Polyurethane resins(13111061) |
|
Name |
Lee Hae-Un |
|
Address |
|
|
Date of Birth |
12/1956 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
45,000,000,000 |
||||||||||||||||||
|
Employees |
385 |
||||||||||||||||||
|
Formation |
Listed Company (Korea Stock Exchange : 144620) as of 04/05/2012 A Company of Kolon Group |
||||||||||||||||||
|
Bank Details |
Woori Bank Korea Development Bank |
||||||||||||||||||
|
Corporate Registered No. |
135311-0011139 |
||||||||||||||||||
|
Business Registered No. |
138-81-44919 |
||||||||||||||||||
|
Permit & Licenses |
Int’l Trade No.: 45341326 |
||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||
|
Company History |
03/03/2008 Incorporated as the present name
after spin off Yarn Business Division from KOLON INDUSTRIES INC.(110111-0030528) 08/01/2008 Increased capital to 74,483,385,000 KRW from 50,000,000,000
KRW 08/01/2008 Acquired KOLON HITEX, INC.(135311-0010545) 12/31/2009 Become a Subsidiary of KOLON
INDUSTRIES INC.(135311-0013606) 03/17/2011 Increased the
authorized shares to 50,000,000 shares from 30,000,000 shares 02/12/2012
Moved to the present HQ address from 7FL., Kolon Tower, 1-23, Byeoryang-dong,
Gwacheon-si, Gyeonggi-do, Korea (New Address System : 38, Byeoryang Sangga
2-ro, Gwacheon-si, Gyeonggi-do, Korea) 04/02/2012 Increased capital to
45,000,000,000 KRW from 30,000,000,000 KRW |
||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Date of Birth |
|
Vice President & CEO |
Mr. |
Lee Hae-Un |
Male |
Korean |
1956.12. |
|
Executive Director |
Mr. |
Cho Choong-Hwan |
Male |
Korean |
1964.03. |
|
Outside Director |
Mr. |
Jung Tae-Woong |
Male |
Korean |
1949.08. |
|
Auditor |
Mr. |
Kim Young-Jin |
Male |
Korean |
1954.11. |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
91,067,618,188 |
298,245,972,585 |
-841,328,860 |
|
|
(*)2014 |
479,688,874,559 |
294,658,992,640 |
-9,967,706,633 |
|
(*)2013 |
546,898,861,771 |
302,392,637,198 |
8,192,132,159 |
|
(*)2012 |
543,954,891,197 |
294,214,138,925 |
3,270,645,761 |
|
(*)2011 |
641,234,837,999 |
278,212,497,806 |
18,497,079,221 |
|
(*)2010 |
516,245,052,479 |
260,233,840,906 |
22,259,226,784 |
|
2009 |
396,074,673,096 |
207,641,558,806 |
13,037,464,854 |
|
2008 |
281,838,579,107 |
215,552,707,180 |
7,170,061,357 |
(*)Figures are based
on the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
250,000,000,000 |
|
Paid-Up Capital(KRW) |
45,000,000,000 |
|
Total Issues Shares |
96,000,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
01/01/2015~03/31/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Total Assets |
298,245,972,585 |
294,658,992,640 |
302,392,637,198 |
|
Current Assets |
127,191,741,434 |
123,947,438,633 |
138,626,675,043 |
|
Cash & Cash Equivalents |
1,564,956,588 |
900,621,594 |
8,183,340,844 |
|
Other Financial Assets |
|
|
5,000,000,000 |
|
Trade Receivables & Other Receivables |
59,027,750,451 |
61,099,091,287 |
63,774,576,886 |
|
Inventories |
64,303,572,725 |
59,715,802,951 |
59,545,158,875 |
|
Prepaid Taxes |
240,651,552 |
240,526,022 |
|
|
Other Current Assets |
2,054,810,118 |
1,991,396,779 |
2,123,598,438 |
|
Non-Current Assets |
171,054,231,151 |
170,711,554,007 |
163,765,962,155 |
|
Long-Term Trade Receivables & Other Long-Term Receivables |
1,814,631,007 |
998,206,112 |
1,158,373,771 |
|
Non-Current Financial Instruments |
4,000,000 |
4,000,000 |
4,000,000 |
|
Marketable Financial Instruments |
17,033,374,180 |
17,494,146,658 |
17,794,261,279 |
|
Investment_Related Companies |
635,666,779 |
683,752,386 |
842,169,770 |
|
Tangibles |
135,662,492,183 |
135,592,993,883 |
129,057,076,072 |
|
Intangibles |
15,861,463,095 |
15,882,473,364 |
14,910,081,263 |
|
Deferred Income Tax Assets |
42,603,907 |
55,981,604 |
|
|
Total Liabilities |
106,219,052,457 |
101,431,341,119 |
97,529,489,957 |
|
Current Liabilities |
101,076,285,043 |
96,248,175,918 |
96,264,965,839 |
|
Trade Payables & Other Payables |
62,721,952,738 |
65,130,390,521 |
82,712,960,931 |
|
Short-Term Borrowings |
36,626,711,301 |
30,194,539,687 |
10,219,371,067 |
|
Accrued Income Tax |
|
|
1,609,845,613 |
|
Other Current Liabilities |
1,727,621,004 |
923,245,710 |
1,722,788,228 |
|
Non-Current Liabilities |
5,142,767,414 |
5,183,165,201 |
1,264,524,118 |
|
Long-Term Trade Payables & Other Long-Term Payables |
221,197,935 |
964,611,845 |
123,197,935 |
|
Confirmed Salaries |
4,921,569,479 |
4,218,553,356 |
556,770,838 |
|
Deferred Income Tax Credit |
|
|
584,555,345 |
|
Capital Stock |
45,000,000,000 |
45,000,000,000 |
45,000,000,000 |
|
Capital Surplus |
89,631,470,863 |
89,631,470,863 |
89,631,470,863 |
|
Others |
-3,095,705,201 |
-2,736,302,668 |
-3,415,757,064 |
|
Profit Surplus |
60,491,154,466 |
61,332,483,326 |
73,647,433,442 |
|
Total Equity |
192,026,920,128 |
193,227,651,521 |
204,863,147,241 |
|
Liab. & Shareholder’s Equity |
298,245,972,585 |
294,658,992,640 |
302,392,637,198 |
|
Income Statement |
|||
|
Unit : Korean Won |
01/01/2015~03/31/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Sales |
91,067,618,188 |
479,688,874,559 |
546,898,861,771 |
|
Cost
of Sold Goods |
84,664,557,193 |
457,386,145,760 |
505,665,929,193 |
|
Gross
Profit |
6,403,060,995 |
22,302,728,799 |
41,232,932,578 |
|
Selling
& Admin. Expenses |
7,268,177,391 |
29,081,516,440 |
30,081,599,117 |
|
Operating
Income |
-865,116,396 |
-6,778,787,641 |
11,151,333,461 |
|
Other
Income |
1,393,911,953 |
3,874,275,395 |
4,715,265,850 |
|
Other
Expenses |
891,651,534 |
5,593,559,648 |
5,145,107,650 |
|
Finance
Income |
831,506 |
153,028,363 |
775,413,720 |
|
Finance
Expenses |
316,471,140 |
414,633,316 |
124,170,044 |
|
Losses
from Investment on Related Companies |
48,085,607 |
158,417,384 |
287,651,254 |
|
Income
Before Taxes |
-726,581,218 |
-8,918,094,231 |
11,085,084,083 |
|
Income
Taxes Expenses |
-114,747,642 |
1,049,612,402 |
2,892,951,924 |
|
Net
Income |
-841,328,860 |
-9,967,706,633 |
8,192,132,159 |
|
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 |
-3,210,607,974 |
-20,068,950,318 |
17,414,710,429 |
|
Net Income |
-841,328,860 |
-9,967,706,633 |
8,192,132,159 |
|
Adjustment |
2,601,122,096 |
8,736,813,835 |
11,171,703,075 |
|
Changes in Asset/ & Liability |
-4,970,401,210 |
-15,500,772,300 |
-571,274,518 |
|
Income Taxes |
|
-3,337,285,220 |
-1,377,850,287 |
|
Cash Flows from Investing |
-2,256,919,464 |
-4,967,300,002 |
-16,194,333,361 |
|
Cash Flows from Financing |
6,133,817,885 |
17,754,887,339 |
-851,375,900 |
|
Increase/Decrease in Cash |
666,290,447 |
-7,281,362,981 |
369,001,168 |
|
Cash at the Beginning of Year |
900,621,594 |
8,183,340,844 |
7,810,067,612 |
|
Cash at the End of Year |
1,564,956,588 |
900,621,594 |
8,183,340,844 |
|
Main Products & Services |
FIBER -Nylon Products -Polyester Products FABRICS Brand Name : Coolon, Duramax, Aquaroad, Pyrocle,
Ecofren, Rojel, Dycel, Cypan, Hipan, Hipora |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
KOLON INDUSTRIES INC.(135311-0013606) KOREA EPLATFORM CO., LTD.(110111-2008921) |
|
Customers |
KOLON I' NETWORKS CORP.(110111-0712350) |
|
Competitors |
HUVIS CORPORATION(110111-2102070) HYOSUNG CORPORATION(110111-0030497) TK CHEMICAL CORPORATION(110111-3783457) DAEHAN SYNTHETIC FIBER CO.,
LTD.(110111-0012437) |
|
Affiliates |
KOLON INDUSTRIES, INC.(135311-0013606) KOLON PHARMACEUTICAL
CO., LTD.(110111-0256259) KOLON CORPORATION(110111-0030528) KTP INDUSTRIES
INC.(171311-0003504) KOLON GLOTECH INC.
(110111-0524838) KOLON FASHION
CORPORATION(110111-2127292) NEOVIEWKOLON CO., LTD
(134211-0040660) KF&T INDUSTRIES
INC.(230111-0091824) KOLON LIFE SCIENCE
CO., LTD.(110111-1948277) CELLVIC DEVELOPMENT
CORPORATION(131111-0031292) CRYOTECH CO., LTD.(191211-0010226) KOLON FASHION
MATERIAL INC.(135311-0011139) KOLON EVERAY CO.,
LTD.(176011-0054417) FNC KOLON
CORP.(110111-0003973) CAMBRIDGE MEMBERS
CO., LTD.(134111-0000517) KOLONWELLCARE CO.,
LTD.(110111-2930299) SWEET MEAL CO.,
LTD.(110111-2925604) SURPLUS GLOBAL,
INC.(110111-1921140) KOLON MOTORS CO.,
LTD.(131111-0209708) KOLON ENGINEERING
& CONSTRUCTION CO., LTD.(110111-0036502) KOLON CONSTRUCTION
& CONSULTING CO., LTD.(170111-0230756) I PACIFIC PARTNERS
INC.(110111-1902786) KOLON I' NETWORKS
CORP.(110111-0712350) DEOK PYEONG LAND CO.,
LTD.(134411-0024149) KOLON ENVIRONMENTAL
SERVICE CO., LTD.(135311-0005893) GREEN NARAE
INC(161511-0078133) KESCO LANDSCAPE CO.,
LTD.(135311-0009572) KOLON BENIT CO.,
LTD.(135311-0003920) MAUNA OCEAN
DEVELOPMENT CO., LTD.(171211-0045128) EFMC(ENVIRONMENTAL
FACILITIES MANAGEMENT CORPORATION 110111-1458739 ) ENVY SYSTEM
INC.(110111-1028798) GREEN HWASUN
INC.(160111-0199459) GREEN GYEONGSAN
INC.(160111-0203622) GREEN SUNCHANG
INC.(160111-0134942) ON ORGANICNANO
ELECTROIC SYSEMS INC.(200111-0255228) KOREA EPLATFORM CO., LTD.(110111-2008921) |
|
Overseas Office |
USA OFFICE 442 POST STREET, SUITE 601, SAN FRANCISCO,
CA 94102 USA TEL:+1-415-772-1940 HONG KONG OFFICE RM.608, 6FL., HARBOUR CRYSTAL CENTER, 100 GRANVILLE
ROAD, TSIM SHA TSUI EAST, KOWLOON, HONG KONG TEL:+852-2529-7613 |
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
NANOPORA CO., LTD.(210111-0080714) (48.97% held by the subject company) |
|
Subsidiary |
|
|
Corporate Ownership |
KOLON CORPORATION(110111-0030528) KOLON INDUSTRIES INC.(135311-0013606) |
|
Major Shareholders |
KOLON INDUSTRIES INC.(135311-0013606) |
|
Cooperative Enterprise |
-Insured Company SAMSUNG FIRE & MARINE INSURANCE CO., LTD.(110111-0005078) |
|
Sales/ Unit :Mil KRW |
03/2015 |
2014 |
2013 |
|
Export |
61,070 |
317,559 |
341,365 |
|
Domestic |
29,998 |
162,130 |
205,534 |
|
Total |
91,068 |
479,689 |
546,899 |
The Subject deals with
the companies in USA and Hong Kong.
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.70 |
|
|
1 |
Rs.98.92 |
|
Euro |
1 |
Rs.70.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VNT |
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.