|
Report No. : |
324382 |
|
Report Date : |
25.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
SFC CO., LTD. |
|
|
|
|
Registered Office : |
682, Naepo-ro, Guhang-myeon,
Hongseong-gun, Chungcheongnam-do, Korea |
|
|
|
|
Country : |
South
Korea |
|
|
|
|
Financials (as on) : |
31.03.2015 |
|
|
|
|
Date of Incorporation : |
23.12.1991 |
|
|
|
|
Com. Reg. No.: |
307-81-05002 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Plastic Films, Sheets and Plates |
|
|
|
|
No. of Employees : |
98 |
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 : |
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) |
|
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 |
SFC CO., LTD. (Korean company
Name : “(주)에스에프씨”) |
|
Registered Address |
682, Naepo-ro, Guhang-myeon, Hongseong-gun,
Chungcheongnam-do, Korea (Old Address System : 456-3, Gong-ri,
Guhang-myeon, Hongseong-gun, Chungcheongnam-do, Korea) |
|
Building |
|
|
Zip Code |
350-841 |
|
Tel |
+82-41-632-0700 +82-41-640-0001 |
|
Fax |
+82-41-634-1177 |
|
E-mail |
sfc@sfcltd.co.kr |
|
Website |
www.sfcltd.co.kr |
|
Trading Address |
SFC Building 749-2, Gojan-dong, Danwon-gu,
Ansan-si, Gyeonggi-do, 425-809, Korea |
|
Tel |
+82-31-318-0042 |
|
Fax |
+82-31-318-0068 |
|
Other Address-Siheung Branch |
278-3, Eunhaeng-dong, Siheung-si,
Gyeonggi-do, Korea |
|
Tel |
+82-31-318-0042 |
|
Fax |
+82-31-318-0068 |
|
Other Address-Boryeong Branch |
71, Yoam-dong, Boryeong-si,
Chungcheongnam-do, Korea |
|
Tel |
+82-41-936-1500 |
|
Fax |
+82-41-936-3800 |
|
Type |
Export |
|
Industry |
Manufacture of Plastic Films, Sheets and Plates |
|
Main Business |
Laminating Film, OHP Transparency Film, Inkjet Film, Photojet Paper |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
12/23/1991 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Transparency film(44103118) |
|
Sell |
Lamination film(44102001) |
|
Sell |
Still picture film(45131500) |
|
Sell |
Films(13111200) |
|
Sell |
Printer or copier paper(14111507) |
|
Name |
Park Won-Ki |
|
Address |
370-9, Naehang-dong,
Boryeong-si, Chungcheongnam-do, Korea |
|
Date of Birth |
11/25/1961 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
8,232,097,500 |
||||||||||||||||||||||||
|
Employees |
98 |
||||||||||||||||||||||||
|
Formation |
Listed Company (KOSDAQ : 112240) as of 11/30/2011 |
||||||||||||||||||||||||
|
Bank Details |
Kookmin Bank Industrial Bank of Korea Korea Exchange Bank-Hong Sung Branch |
||||||||||||||||||||||||
|
Corporate Registered No. |
110111-0824204 |
||||||||||||||||||||||||
|
Business Registered No. |
307-81-05002 |
||||||||||||||||||||||||
|
Permit & Licenses |
02/2008 UL 07/2006 ISO 9002 07/2006 ISO14001 Int’l Trade No.: 11003311 |
||||||||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||||||||
|
Company History |
12/23/1991 Incorporated as Samwoo Film Co.,
Ltd. 01/2002 Changed company name to the present
name 11/22/2010 Moved to the present HQ address
from 85, Banghan-ri, Bibong-myeon, Cheongyang-gun,
Chungcheongnam-do, Korea 12/2010 Awarded US$ 20 Million Export Top Prize 12/23/2010 Spin off the par value to 500 KRW from
5,000 KRW 12/23/2010 Increased capital to 40,000,000 shares
from 1,000,000 shares 11/25/2011 Increased capital to 3,265,800,000 KRW
from 2,440,350,000 KRW |
||||||||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Date of Birth |
|
President & CEO |
Mr. |
Park Won-Ki |
Male |
Korean |
1961.11. |
|
Director |
Mr. |
Park Jong-Il |
Male |
Korean |
1984.06. |
|
Director |
Mr. |
Park Yong-In |
Male |
Korean |
1966.05. |
|
Outside Director |
Mr. |
Kim Kwang-Soo |
Male |
Korean |
1973.08. |
|
Auditor |
Mr. |
Jeon Eun-Seok |
Male |
Korean |
1957.07. |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
15,374,732,509 |
76,579,823,240 |
946,130,514 |
|
|
(*)2014 |
55,439,570,414 |
75,357,981,577 |
2,319,026,490 |
|
(*)2013 |
72,437,424,929 |
80,526,082,904 |
5,406,661,409 |
|
(*)2012 |
61,844,492,259 |
80,853,239,809 |
4,839,725,112 |
|
2011 |
72,028,111,876 |
72,665,866,922 |
6,744,699,898 |
|
2010 |
88,933,656,895 |
37,451,176,744 |
8,754,973,165 |
|
2009 |
58,194,637,307 |
28,019,793,533 |
4,988,513,962 |
|
2008 |
40,140,154,510 |
23,054,794,443 |
-439,722,613 |
(*)Figures are based
on the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
20,000,000,000 |
|
Paid-Up Capital(KRW) |
8,232,097,500 |
|
Total Issued Shares |
16,464,195 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
01/01/2015~03/31/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Total
Assets |
76,579,823,240 |
75,357,981,577 |
80,526,082,904 |
|
Current Assets |
58,462,924,924 |
56,667,559,581 |
62,984,680,240 |
|
Cash
& Cash Equivalents |
8,426,841,822 |
9,121,976,983 |
6,538,681,787 |
|
Current
Financial Instruments |
895,537,034 |
855,584,900 |
2,000,000,000 |
|
Investment
Assets |
29,475,000 |
44,400,000 |
100,000,000 |
|
Trade
Receivables & Other Receivables |
30,057,057,333 |
25,402,897,986 |
23,980,925,103 |
|
Derivatives |
|
|
19,157,019 |
|
Current
Non-Financial Instruments |
530,287,290 |
505,214,588 |
1,286,008,237 |
|
Inventories |
18,523,726,445 |
20,737,485,124 |
29,059,908,094 |
|
Non-Current Assets |
18,116,898,316 |
18,690,421,996 |
17,541,402,664 |
|
Investment_Subsidiaries |
|
54,048,929 |
54,048,929 |
|
Long-Term Investment Assets |
54,048,929 |
|
44,400,000 |
|
Non-Current
Financial Instruments |
31,522,423 |
29,701,700 |
107,512,136 |
|
Tangibles |
16,668,714,594 |
16,921,505,477 |
15,667,982,108 |
|
Intangibles |
795,721,465 |
1,060,636,567 |
1,454,705,172 |
|
Long-Term
Trade Receivables & Other Receivables |
5,227,000 |
5,227,000 |
5,227,000 |
|
Deferred
Income Tax Assets |
561,663,905 |
619,302,323 |
207,527,319 |
|
Total Liabilities |
14,819,733,447 |
14,270,215,358 |
19,453,263,020 |
|
Current Liabilities |
14,609,733,447 |
14,060,215,358 |
19,243,263,020 |
|
Trade
Payables & Other Payables |
3,560,932,898 |
3,048,913,482 |
8,002,787,762 |
|
Short-Term
Borrowings |
9,920,260,000 |
9,920,140,000 |
10,004,660,000 |
|
Deferred
Income Tax Credit |
271,197,874 |
158,908,599 |
778,133,962 |
|
Other
Current Liabilities |
582,015,939 |
298,585,069 |
457,681,296 |
|
Derivatives |
275,326,736 |
633,668,208 |
|
|
Non-Current Liabilities |
210,000,000 |
210,000,000 |
210,000,000 |
|
Long-Term
Trade Payables & Other Payables |
210,000,000 |
210,000,000 |
210,000,000 |
|
Capital Stock |
8,232,097,500 |
8,232,097,500 |
8,232,097,500 |
|
Capital
Surplus |
17,710,774,007 |
17,710,774,007 |
17,710,774,007 |
|
Others |
-1,927,087,304 |
-1,893,505,694 |
-1,025,189 |
|
Profit
Surplus |
37,744,305,590 |
37,038,400,406 |
35,130,973,566 |
|
Total
Equity |
61,760,089,793 |
61,087,766,219 |
61,072,819,884 |
|
Liab.
& Shareholder’s Equity |
76,579,823,240 |
75,357,981,577 |
80,526,082,904 |
|
Income Statement |
|||
|
Unit : Korean Won |
01/01/2015~03/31/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Sales |
15,374,732,509 |
55,439,570,414 |
72,437,424,929 |
|
Cost of Sold Goods |
12,869,577,159 |
47,006,586,077 |
58,206,058,730 |
|
Gross Profit |
2,505,155,350 |
8,432,984,337 |
14,231,366,199 |
|
Selling & Admin. Expenses |
1,595,575,996 |
6,575,027,778 |
7,998,479,080 |
|
Operating Income |
909,579,354 |
1,857,956,559 |
6,232,887,119 |
|
Other Income |
486,882,039 |
2,453,924,394 |
2,195,521,049 |
|
Other Expenses |
192,374,026 |
844,215,477 |
1,938,887,676 |
|
Finance Income |
80,808,522 |
317,624,860 |
483,552,504 |
|
Finance Expenses |
78,959,333 |
1,080,464,373 |
477,098,490 |
|
Income Before Taxes |
1,205,936,556 |
2,704,825,963 |
6,495,974,506 |
|
Income Taxes Expenses |
259,806,042 |
385,799,473 |
1,089,313,097 |
|
Net Income |
946,130,514 |
2,319,026,490 |
5,406,661,409 |
|
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 |
-327,262,197 |
5,620,205,725 |
-389,627,438 |
|
Cash Flows from Operating |
-172,576,363 |
7,208,903,658 |
823,175,500 |
|
Interests Received |
6,833,169 |
120,690,129 |
280,472,911 |
|
Interests Paid |
-71,640,654 |
-292,588,222 |
-333,091,995 |
|
Income Taxes |
-89,878,349 |
-1,416,799,840 |
-1,160,183,854 |
|
Cash Flows from Investing |
-119,272,357 |
-818,666,932 |
6,453,976,041 |
|
Cash Flows from Financing |
-273,806,940 |
-2,339,768,430 |
-7,357,142,333 |
|
Increase/Decrease in Cash |
-720,341,494 |
2,461,770,363 |
-1,292,793,730 |
|
Cash at the Beginning of Year |
9,121,976,983 |
6,538,681,787 |
7,840,426,004 |
|
Cash at the End of Year |
8,426,841,822 |
9,121,976,983 |
6,538,681,787 |
|
Main Products & Services |
Photovoltaic(PV)
Backsheet Hologram laminating film Digital printing Media |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
|
|
Competitors |
GMP CO., LTD. 139, SANEOPDANJI-GIL, PAJU-SI, GYEONGGI-DO,
KOREA TEL:+82-31-943-5000 FAX:+82-31-942-8812 YOULCHON CHEMICAL CO., LTD. 15TH FL., NONGSHIM DOYEON HALL, 370-1,
SINDAEBANG 2-DONG, DONGJAK-GU, SEOUL, KOREA TEL:+82-2-822-0022 FAX:+82-2-821-0956 DCM CORP. 89-14, DEOKGYE-DONG, YANGSAN-SI, GYEONGSANGNAM-DO,
KOREA TEL:+82-55-366-9991~5 FAX:+82-55-366-9996 |
|
Subsidiary |
SFC SOLAR BACKSHEET (SOUZHOU) CO.,
LTD.(CHINA) (100.0% held by the subject company) ROOM NO. 1211, BUILDING 21, YOUGOR INT’L CENTER, NO 535, SHENXU RD,
SUZHOU PR CHINA TEL
:+86-512-6547-9011 FAX
:+86-512-6591-9077 |
|
Corporate Ownership |
|
|
Major Shareholders |
|
|
Cooperative Enterprise |
-Insured Company DONGBU INSURANCE CO., LTD.(110111-0095285) |
The Subject exports
to Germany, Japan and USA.
No.
--------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.57 |
|
|
1 |
Rs.99.67 |
|
Euro |
1 |
Rs.70.93 |
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.