|
Report No. : |
341039 |
|
Report Date : |
12.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
KOWEL PRECISION CO., LTD. |
|
|
|
|
Registered Office : |
64, Noksansandan 261-ro, Gangseo-gu, Busan (Old Address System : 1583-1, Songjeong-dong, Gangseo-gu, Busan, Korea) |
|
|
|
|
Country : |
Korea (South) |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
18.01.1994 |
|
|
|
|
Com. Reg. No.: |
603-81-21064 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Manufacture of Air Pump, Tab, Valves, and Press Devices. |
|
|
|
|
No. of Employees : |
79 |
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) |
|
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 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 |
Basic
|
Company Name |
KOWEL PRECISION CO., LTD. |
|
Registered Address |
64, Noksansandan 261-ro, Gangseo-gu,
Busan, Korea (Old Address System : 1583-1,
Songjeong-dong, Gangseo-gu, Busan, Korea) |
|
Building |
|
|
Zip Code |
46753 |
|
Tel |
+82-51-603-0321 +82-51-603-0315 |
|
Fax |
+82-51-831-0328 |
|
E-mail |
|
|
Website |
|
|
Trading Address |
Rm.104-1108, SK Ventium, 166, Gosan-ro, Gunpo-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-436-0170~5 |
|
Fax |
+82-31-436-0176 |
|
Other Address |
|
|
Tel |
|
|
Fax |
|
|
Type |
Export |
|
Industry |
Manufacture of Air Pump, Tab, Valves, and Press Devices |
|
Main Business |
Vacuum Pump, Vacuum System, Vacuum Booster |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
01/18/1994 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Vacuum pumps(40151502) |
|
Sell |
Pumps(40151500) |
|
Name |
Lee Jong-Dae |
|
Address |
Suite 512-1002, 92, Myeongji ocean city
12-ro, Gangseo-gu, Busan, Korea |
|
Date of Birth |
01/28/1948 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
600,000,000 |
|||||||||
|
Employees |
79 |
|||||||||
|
Formation |
Co., Ltd by Shares |
|||||||||
|
Bank Details |
Industrial Bank of Korea-Noksan Barnch |
|||||||||
|
Corporate Registered No. |
180111-0151257 |
|||||||||
|
Business Registered No. |
603-81-21064 |
|||||||||
|
Permit & Licenses |
04/18/2008 ISO 9001 Int’l Trade No.: 12022809 |
|||||||||
|
Shareholder Position |
|
|||||||||
|
Company History |
01/18/1994 Incorporated as the present name 05/1998 Designated as a Venture Business 03/31/2002 Increased the authorized shares
to 160,000 shares from 60,000 shares 04/26/2002 Increased capital to 600,000,000
KRW from 400,000,000 KRW 03/17/2006 Designated as a Venture Business
again |
|||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lee Jong-Dae |
Male |
Korean |
03/29/2000 |
|
Director |
Mr. |
Ahn Mi-Hwa |
Male |
Korean |
03/29/2000 |
|
Director |
Mr. |
Lee Min-Jin |
Male |
Korean |
03/31/2008 |
|
Auditor |
Mr. |
Ahn Chyang-Soo |
Male |
Korean |
04/10/1999 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2014 |
12,771,706,830 |
24,251,556,782 |
1,988,014,677 |
|
2013 |
15,314,371,644 |
26,352,972,030 |
3,376,460,075 |
|
2012 |
14,939,659,054 |
22,784,880,469 |
2,906,545,989 |
|
2011 |
18,229,744,571 |
17,972,928,392 |
4,110,376,363 |
|
2010 |
16,484,662,349 |
14,327,953,294 |
3,018,840,589 |
|
Authorized Capital(KRW) |
1,600,000,000 |
|
Paid-Up Capital(KRW) |
600,000,000 |
|
Total Issued Shares |
60,000 |
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total Assets |
24,251,556,782 |
26,352,972,030 |
22,784,880,469 |
|
Current Assets |
19,014,970,398 |
21,574,673,929 |
19,048,854,289 |
|
-Quick Assets |
16,114,130,632 |
19,157,969,016 |
16,883,201,159 |
|
-Inventories |
2,900,839,766 |
2,416,704,913 |
2,165,653,130 |
|
Fixed Assets |
5,236,586,384 |
4,778,298,101 |
3,736,026,180 |
|
-Investment |
1,035,190,848 |
392,616,690 |
183,332,932 |
|
-Tangibles |
4,089,194,869 |
4,235,924,242 |
3,377,078,079 |
|
-Intangibles |
560,000 |
16,644,502 |
42,502,502 |
|
-Others |
111,640,667 |
133,112,667 |
133,112,667 |
|
Total Liabilities |
2,542,353,503 |
5,969,789,939 |
4,989,900,676 |
|
Current Liabilities |
2,214,764,528 |
5,807,938,502 |
4,642,252,583 |
|
Fixed Liabilities |
327,588,975 |
161,851,437 |
347,648,093 |
|
Capital Stock |
600,000,000 |
600,000,000 |
600,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
21,051,413,999 |
19,663,399,322 |
16,886,939,247 |
|
Capital Adjustment |
57,789,280 |
119,782,769 |
308,040,546 |
|
Total Equity |
21,709,203,279 |
20,383,182,091 |
17,794,979,793 |
|
Liab. & Shareholder’s Equity |
24,251,556,782 |
26,352,972,030 |
22,784,880,469 |
|
Current
Liabilities |
2,214,764,528 |
5,807,938,502 |
4,642,252,583 |
|
Trade Payables |
497,156,694 |
495,618,656 |
380,197,183 |
|
Short-Term Borrowings |
300,000,000 |
4,000,000,000 |
3,000,000,000 |
|
Account Payables |
43,073,699 |
53,469,440 |
67,187,526 |
|
Advance Receipts |
823,555,948 |
472,938,367 |
564,203,816 |
|
Unearned Income |
6,818,027 |
- |
|
|
Withholdings |
54,992,700 |
41,866,080 |
45,059,150 |
|
VAT Withhold |
15,570,962 |
- |
22,638,040 |
|
Accrued Expenses |
329,421,898 |
326,661,707 |
243,876,423 |
|
Accrued Income Tax |
80,316,066 |
340,812,394 |
164,392,150 |
|
Current Portion of Long-Term Debts |
|
|
80,000,000 |
|
Provision for Sales Guarantee |
63,858,534 |
76,571,858 |
74,698,295 |
|
Fixed
Liabilities |
327,588,975 |
161,851,437 |
347,648,093 |
|
Long-Term Borrowings |
|
|
120,000,000 |
|
Leasehold Deposit Received |
3,000,000 |
3,000,000 |
3,000,000 |
|
Provision for Severance & Retirement |
324,588,975 |
158,851,437 |
224,648,093 |
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
12,771,706,830 |
15,314,371,644 |
14,939,659,054 |
|
Cost of Sold Goods |
7,616,483,823 |
8,561,226,668 |
8,145,459,468 |
|
Gross Profit |
5,155,223,007 |
6,753,144,976 |
6,794,199,586 |
|
Selling & Admin. Expenses |
3,420,014,172 |
3,177,460,456 |
3,529,652,417 |
|
Operating Income |
1,735,208,835 |
3,575,684,520 |
3,264,547,169 |
|
Non-Operating Income |
811,388,594 |
775,626,732 |
534,723,496 |
|
Non-Operating Expenses |
185,687,596 |
379,051,483 |
373,915,766 |
|
Income Before Taxes |
2,360,909,833 |
3,972,259,769 |
3,425,354,899 |
|
Income Taxes Expenses |
372,895,156 |
595,799,694 |
518,808,910 |
|
Net Income |
1,988,014,677 |
3,376,460,075 |
2,906,545,989 |
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Cash Flows from Operating |
2,227,774,145 |
2,747,117,801 |
4,258,311,435 |
|
-Net Income |
1,988,014,677 |
3,376,460,075 |
2,906,545,989 |
|
-Exp. without Cash Outflow |
710,789,925 |
285,496,232 |
821,202,297 |
|
-Revenue without Cash Inflows |
-369,137,352 |
-296,857,378 |
-245,952,485 |
|
-Changes in Asset/ & Liability |
-101,893,105 |
-617,981,128 |
776,515,634 |
|
Cash Flows from Investing |
-773,942,839 |
-2,832,632,791 |
-3,402,067,453 |
|
-Cash Inflow from Investing |
19,215,958,989 |
6,652,496,333 |
8,212,423,245 |
|
-Cash Outflows for Investing |
-19,989,901,828 |
-9,485,129,124 |
-11,614,490,698 |
|
Cash Flows from Financing |
-4,300,000,000 |
200,000,000 |
2,320,000,000 |
|
-Cash Inflows from Financing |
300,000,000 |
4,000,000,000 |
3,000,000,000 |
|
-Cash Outflows from Financing |
-4,600,000,000 |
-3,800,000,000 |
-680,000,000 |
|
Increase/Decrease in Cash |
-2,846,168,694 |
114,485,010 |
3,176,243,982 |
|
Cash at the Beginning of Year |
5,104,223,642 |
4,989,738,632 |
1,813,494,650 |
|
Cash at the End of Year |
2,258,054,948 |
5,104,223,642 |
4,989,738,632 |
|
Main Products & Services |
Vacuum Pump, Vacuum System, Vacuum Booster |
|
Detailed Products Spec. |
-- |
|
Technologies Acquired |
-- |
|
Suppliers |
-- |
|
Customers |
-- |
|
Competitors |
OELIKON LEYBOLD VACUUM KOREA LTD. 3RD FL., ZELZONE TOWER 2-CHA, 162,
JEONGJAIL-RO, BUNDANG-GU, SEONGNAM-SI, GYEONGGI-DO, KOREA TEL:+82-31-785-1300 FAX:+82-31-785-1358 MOTION HIGHTECH CO., LTD. RM. 503, WOOLIM E-BIZ CENTER, 16,
YANGPYEONG-DONG 3-GA, YEONGDEUNGPO-GU, SEOUL, KOREA TEL:+82-2-2164-8760 FAX:+82-2-2164-8777 KEY ONE ENGINEERING CO., LTD. RM. 1501, PARK VIEW OFFICE TOWER, 6,
JEONGJA-DONG, BUNDANG-GU, SEONGNAM-SI, GYEONGGI-DO, KOREA TEL:+82-31-783-2199 FAX:+82-31-783-2499 |
|
Affiliates |
-- |
|
Overseas Office |
-- |
|
Liaison Office |
-- |
|
Overseas Branch |
-- |
|
Joint Venture |
-- |
|
Subsidiary |
-- |
|
Corporate Ownership |
-- |
|
Major Shareholders |
-- |
|
Cooperative Enterprise |
-Insured Company GREEN NON-LIFE INSURANCE CO., LTD.(110111-0007082) |
The Subject exports
to USA and Europe.
No.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.39 |
|
|
1 |
Rs.102.59 |
|
Euro |
1 |
Rs.74.90 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
ANK |
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.