|
Report No. : |
339043 |
|
Report Date : |
02.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
UNID CO., LTD. |
|
|
|
|
Registered Office : |
19 Eulji-ro 5-gil, Jung-gu, Seoul, Korea,
100-210, 17th Fl., Ferum Tower. |
|
|
|
|
Country : |
South
Korea |
|
|
|
|
Financials (as on) : |
31.03.2015 |
|
|
|
|
Date of Incorporation : |
10.05.1980 |
|
|
|
|
Com. Reg. No.: |
104-81-24846 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Densified and Reconstituted Wood |
|
|
|
|
No. of Employees : |
448 |
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 : |
Good |
|
Payment Behaviour : |
Regular |
|
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 |
UNID CO., LTD. (Korean Company
Name : “(주)유니드”) |
|
Registered Address |
19 Eulji-ro 5-gil, Jung-gu, Seoul, Korea (Old Address System : 66, Suha-dong,
Jung-gu, Seoul, Korea) |
|
Building |
17th Fl., Ferum Tower. |
|
Zip Code |
100-210 |
|
Tel |
+82-2-3709-9500 |
|
Fax |
+82-2-774-7591 |
|
E-mail |
jypark@unid.co.kr |
|
Website |
www.unid.co.kr |
|
Trading Address |
17th Fl., Ferum Tower., 66, Suha-dong,
Jung-gu, Seoul, Korea |
|
Tel |
+82-2-3709-9500 |
|
Fax |
+82-2-774-7591 |
|
Other Address-Mokpo Office |
1422, Sanjeong-dong, Mokpo-si,
Jeollanam-do, Korea |
|
Tel |
+82-61-242-3416 |
|
Fax |
+82-61-245-0142 |
|
Other Address-Incheon Plant |
223-85, Seongnam 2-dong, Seo-gu, Incheon, Korea |
|
Tel |
+82-32-584-0900 |
|
Fax |
+82-32-584-0905 |
|
Other Address-Gunsan Factory |
437, Soryong-dong, Gunsan-si,
Jeollabuk-do, Korea |
|
Tel |
+82-63-460-5114 |
|
Fax |
+82-63-460-5150 |
|
Other Address-Incheon Factory |
587-84, Hagik 1-dong, Nam-gu, Incheon,
Korea |
|
Tel |
+82-32-830-7777 |
|
Fax |
+82-32-832-4491 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Densified and Reconstituted Wood |
|
Main Business |
Medium Density Fiber Board, Sawn Wood, Material Lumber, Potassium Carbonate,
Caustic Potassium, Liquid Chlorine, Hydrochloric Acid |
|
Sub
Business |
Manufacture of Other Basic Inorganic Chemicals |
|
Established (mm/dd/yyyy) |
05/10/1980 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Inorganic hydroxides(12352305) |
|
Sell |
Structural products(30103600) |
|
Name |
Lee Wha-Young |
|
Address |
|
|
Date of Birth |
05/16/1951 |
|
Title |
Chairman & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
32,925,345,000 |
||||||||||||||||||||||||||||||||||||
|
Employees |
448 |
||||||||||||||||||||||||||||||||||||
|
Formation |
Listed Company (Korea Stock Exchange : 014830) as of 12/03/2004 A Company of OCI GROUP |
||||||||||||||||||||||||||||||||||||
|
Bank Details |
Shinhan Bank-Sogong Dong Branch Nonghyup Bank |
||||||||||||||||||||||||||||||||||||
|
Corporate Registered No. |
110111-0275069 |
||||||||||||||||||||||||||||||||||||
|
Business Registered No. |
104-81-24846 |
||||||||||||||||||||||||||||||||||||
|
Permit & Licenses |
11/2010 ISO 9001 01/2005 KS Mark 12/2003 ISO 9001 12/2003 ISO 9002 03/1997 ISO 9002 12/08/1995 ISO 9002 Int’l Trade No.: 974538 |
||||||||||||||||||||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||||||||||||||||||||
|
Company History |
05/10/1980 Incorporated as HANKUK CARI
CHEMICAL CO., LTD. 08/1995 Changed company name to the present
name 11/2009 Awarded US$ 100 Million Export Top
Prize 07/2011 Moved to the present HQ address
from 50,
Sogong-dong, Jung-gu, Seoul, Korea |
||||||||||||||||||||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
Chairman & CEO |
Mr. |
Lee Wha-Young |
Korean |
1951.05.16 |
University of OHIO State |
|
President & CEO |
Mr. |
Jung Eui-Seung |
Korean |
1958.02.20 |
Chungang University, Korea |
|
Director |
Mr. |
Jung Hoon-Mo |
Korean |
1961.03 |
University of Boston, USA |
|
Auditor |
Mr. |
Lee Chul |
Korean |
1949.09.19 |
Seoul National University, Korea |
|
Outside Director |
Mr. |
Lee Jong-Koo |
Korean |
1950.09 |
Northwestern University, USA |
|
Outside Director |
Mr. |
Choi Choon-Keun |
Korean |
1950.01 |
Seoul National University, Korea |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
130,145,518,361 |
720,720,115,598 |
3,911,347,067 |
|
|
(*)2014 |
533,088,577,229 |
686,706,658,390 |
34,504,990,955 |
|
(*)2013 |
520,831,778,098 |
741,735,355,985 |
26,103,433,983 |
|
(*)2012 |
504,648,899,268 |
720,927,488,716 |
9,862,528,136 |
|
(*)2011 |
622,356,931,383 |
790,662,234,890 |
49,908,204,363 |
|
(*)2010 |
474,345,030,647 |
587,133,925,387 |
60,882,044,843 |
|
2009 |
444,220,070,000 |
461,455,629,000 |
35,196,733,000 |
|
2008 |
486,413,813,000 |
556,124,602,000 |
63,409,886,000 |
(*)Figures are based on
the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
125,000,000,000 |
|
Paid-Up Capital(KRW) |
32,925,345,000 |
|
Total Issued Shares |
6,585,069 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
01/01/2015~03/31/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Total Assets |
720,720,115,598 |
686,706,658,390 |
741,735,355,985 |
|
Current
Assets |
298,703,685,436 |
268,334,840,517 |
313,678,059,556 |
|
Cash & Cash Equivalents |
77,793,594,436 |
86,904,021,881 |
112,249,687,118 |
|
Current Financial Instruments |
10,200,000,000 |
15,200,000,000 |
25,200,000,000 |
|
Other Current Financial
Instruments |
16,361,430,361 |
3,066,426,602 |
7,005,396,000 |
|
Trade Receivables & Other
Receivables |
124,830,222,204 |
99,218,063,145 |
97,689,059,586 |
|
Held-to-Maturity Financial Assets |
22,000,000 |
25,530,000 |
144,440,000 |
|
Inventories |
65,846,775,813 |
58,870,685,158 |
67,066,770,987 |
|
Other Finance Assets |
277,925,108 |
539,778,230 |
567,885,820 |
|
Other Current Assets |
3,371,737,514 |
4,510,335,501 |
2,410,825,984 |
|
Non-Current Assets to be Sold |
0 |
0 |
1,343,994,061 |
|
Non-Current
Assets |
422,016,430,162 |
418,371,817,873 |
428,057,296,429 |
|
Long-Term Financial Instruments |
5,500,000 |
5,500,000 |
5,500,000 |
|
Long-Term Trade Receivables &
Other Receivables |
150,000,000 |
150,000,000 |
150,000,000 |
|
Marketable Financial Instruments |
35,654,800,000 |
26,143,200,000 |
33,038,290,310 |
|
Held-to-Maturity Financial Assets |
448,255,000 |
431,885,000 |
387,275,000 |
|
Tangibles |
271,134,597,219 |
274,330,063,478 |
281,733,211,673 |
|
Investment_Real Estates |
2,228,508,716 |
2,234,380,492 |
2,850,626,466 |
|
Intangibles |
5,430,374,621 |
5,671,556,846 |
5,155,137,726 |
|
Investment_Related Companies |
104,206,354,346 |
106,650,445,468 |
101,870,043,739 |
|
Other Non-Current Financial
Instruments |
1,444,301,020 |
1,434,213,382 |
1,416,631,080 |
|
Other Non-Current Assets |
1,313,739,240 |
1,320,573,207 |
1,450,580,435 |
|
Total
Liabilities |
258,063,043,840 |
227,946,960,201 |
306,905,848,646 |
|
Current
Liabilities |
209,341,696,358 |
177,282,552,464 |
195,658,056,267 |
|
Trade Payables & Other
Payables |
36,293,294,864 |
35,109,295,681 |
40,494,048,547 |
|
Short-Term Borrowings |
164,521,353,463 |
132,137,627,065 |
141,236,945,964 |
|
Accrued Income Tax |
6,721,440,601 |
7,336,902,656 |
12,266,387,604 |
|
Other Current Financial Debts |
472,943,811 |
130,773,160 |
71,022,374 |
|
Other Current Liabilities |
1,332,663,619 |
2,567,953,902 |
1,589,651,778 |
|
Non-Current
Liabilities |
48,721,347,482 |
50,664,407,737 |
111,247,792,379 |
|
Long-Term Borrowings |
28,825,124,330 |
33,402,076,430 |
90,883,537,340 |
|
Provision for Severance &
Retirement |
4,792,815,876 |
3,899,652,616 |
4,225,999,378 |
|
Deferred Income Tax Credit |
11,384,229,617 |
9,084,135,030 |
12,269,836,512 |
|
Other Financial Debts |
1,992,266,190 |
2,522,394,737 |
2,247,229,609 |
|
Other Non-Current Liabilities |
1,345,730,987 |
1,378,656,832 |
1,257,896,083 |
|
Provisions |
381,180,482 |
377,492,092 |
363,293,457 |
|
Capital
Stock |
32,925,345,000 |
32,925,345,000 |
32,925,345,000 |
|
Installments |
12,984,870,913 |
12,984,870,913 |
12,984,870,913 |
|
Profit Surplus |
401,236,897,635 |
404,625,589,540 |
379,984,646,042 |
|
Others |
15,509,958,210 |
8,223,892,736 |
8,934,645,384 |
|
Total Equity |
462,657,071,758 |
458,759,698,189 |
434,829,507,339 |
|
Liab. & Shareholder’s Equity |
720,720,115,598 |
686,706,658,390 |
741,735,355,985 |
|
Income Statement |
|||
|
Unit : Korean Won |
01/01/2015~03/31/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Sales |
130,145,518,361 |
533,088,577,229 |
520,831,778,098 |
|
Cost of Sold Goods |
100,933,897,806 |
403,901,045,470 |
414,107,132,311 |
|
Gross Profit |
29,211,620,555 |
129,187,531,759 |
106,724,645,787 |
|
Selling Expenses |
16,193,764,810 |
62,545,315,162 |
57,619,995,858 |
|
Admin. Expenses |
3,530,791,500 |
13,751,088,304 |
13,365,713,824 |
|
R&D |
1,027,193,280 |
5,896,359,520 |
3,748,636,210 |
|
Operating Income |
8,459,870,965 |
46,994,768,773 |
31,990,299,895 |
|
Finance Income |
1,900,521,551 |
12,749,152,598 |
13,780,383,779 |
|
Finance Expenses |
2,854,138,616 |
16,443,650,562 |
16,859,676,623 |
|
Profits from investment on
Related Companies |
-2,444,091,122 |
-3,632,562,906 |
-13,374,769,888 |
|
Non-Operating Income |
1,561,844,387 |
15,618,370,965 |
30,067,266,837 |
|
Non-Operating Expenses |
244,011,941 |
8,070,505,242 |
7,963,599,892 |
|
Income Before Taxes |
6,379,995,224 |
47,215,573,626 |
37,639,904,108 |
|
Income Taxes Expenses |
2,468,648,157 |
12,710,582,671 |
11,536,470,125 |
|
Net Income |
3,911,347,067 |
34,504,990,955 |
26,103,433,983 |
|
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 |
-27,485,428,209 |
53,216,756,037 |
40,164,773,634 |
|
Cash Flows from Operating |
-24,785,696,299 |
62,816,897,078 |
47,660,904,058 |
|
Dividends Received |
517,191,500 |
10,324,651,890 |
571,591,721 |
|
Interests Received |
365,427,835 |
3,563,040,505 |
4,010,013,214 |
|
Interests Paid |
-666,947,203 |
-3,966,845,530 |
-7,666,806,858 |
|
Income Taxes |
-2,915,404,042 |
-19,520,987,906 |
-4,410,928,501 |
|
Cash Flows from Investing |
-8,798,774,676 |
-1,797,536,671 |
25,998,938,881 |
|
Cash Flows from Financing |
27,243,295,446 |
-76,735,887,915 |
25,861,704,998 |
|
Increase/Decrease in Cash |
-9,040,907,439 |
-25,316,668,549 |
92,025,417,513 |
|
Cash at the Beginning of Year |
86,904,021,881 |
112,249,687,118 |
20,243,393,570 |
|
Cash at the End of Year |
77,793,594,436 |
86,904,021,881 |
112,249,687,118 |
|
Main Products & Services |
Medium Density Fiber Board, Sawn Wood, Material Lumber, Potassium Carbonate,
Caustic Potassium, Liquid Chlorine, Hydrochloric Acid Brand Name : UNIDBOARD |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
CANPOTEX RAYONIER SAMCHULLY CO., LTD.(110111-0005929) OCI CORPORATION(110111-1072159) DAESUNG WOOD IND.CO., LTD.(120111-0018524) |
|
Customers |
|
|
Competitors |
DONGWHA ENTERPRISE CO.,
LTD.(120111-0327933) 150-14, GAJWA 1-DONG, SEO-GU, INCHEON,
KOREA TEL:+82-32-580-5161~4 TEL:+82-32-577-0056 HANSOL HOMEDECO CO., LTD.(110111-0825624) 27TH FL., KOREA SPECIALTY CONTRACTOR
CENTER, 395-70, SINDAEBANG 2-DONG, DONGJAK-GU, SEOUL, KOREA TEL:+82-2-3284-3812~4 TEL:+82-2-3284-3838~9 UNID CO.,LTD.(110111-0275069) 17TH FL., ORIENTAL CHEMICAL INDUSTRIES BLDG.,
50, SOGONG-DONG, JUNG-GU, SEOUL, KOREA TEL:+82-2-3709-9500 FAX:+82-2-774-7591 SUNCHANG CORPORATION(110111-0027593) 6-32, BUKSEONG-DONG 1-GA, JUNG-GU, INCHEON,
KOREA TEL:+82-32-770-3000 FAX:+82-32-763-3171 |
|
Affiliates |
OCI CORPORATION(110111-1072159) OCI COMPANY LTD.(174611-0000981) DC CHEMICAL CO.,LTD (174611-0000981) SAMKWANG GLASS IND CO.,LTD (110111-0079817) UNION CORPORATION(110111-0200579) DONG YANG SILICONE COMPANY LIMITED(110111-0586375) DC-FERRO CO LTD(110111-2410233) BULLSONE(110111-2187676) ORDEG CO. ,LTD.(110111-0407357) OCI INFORMATION &
COMMUNICATION(110111-1443780) EYANG CHEMICAL CO., LTD.(110111-0506216) SHIN YOUNG WOOD CO., LTD(110111-1083643) ITVMEDIA(110111-1691446) GUNJANG ENERGY CO., LTD.(211111-0014332) REGENDARY SOFT CO., LTD. SEOUL VIDEO VENTURE BUSINESS ASSOCIATES ETEC INFRA LIMITED(120111-0467531) SMG ENERGY CO., LTD.(211111-0042698) JIANGSU OCI CHEMICAL CO., LTD. ETEC E&C(SHANGHAI) CO., LTD. ETEC ARABIA LIMITED. ETEC MALAYSIA SDN. BHD. PT. ETEC INDONESIA OCI(HONG KONG) LTD. OCI INTERNATIONAL INC. OCI(SHANGHAI) INTERNATIONAL TRADING LTD. ETEC E&C LIMITED(110111-0327555) (19.82% held by the subject company) KEYSTONE INVESTMENT HONGKONG (HOLDINGS) LTD. (40.0% held by the subject company) |
|
Overseas Office |
|
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
|
|
Subsidiary |
UNID(JIANGSU)CHEMICAL CO., LTD.(CHINA) (100.0% held by the subject company) #88 YINSHAN-ROAD, NEW ZONE, ZHENJIANG, JIANGSU, CHINA UNID LED CO., LTD.(110111-4593623) (69.0% held by the subject company) |
|
Corporate Ownership |
|
|
Major Shareholders |
|
|
Cooperative Enterprise |
-Insured Company SAMSUNG FIRE & MARINE INSURANCE CO., LTD.(110111-0005078) |
|
Sales/ Unit
:Thousand KRW |
03/2015 |
2014 |
2013 |
|
Export |
67,397,878 |
265,708,552 |
262,267,362 |
|
Domestic |
62,747,641 |
267,380,025 |
258,564,416 |
|
Total |
130,145,519 |
533,088,577 |
520,831,778 |
The Subject deals
with the companies in China, Japan, Malaysia and Singapore.
No.
--------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.26 |
|
|
1 |
Rs.101.99 |
|
Euro |
1 |
Rs.74.79 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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.