|
Report No. : |
341161 |
|
Report Date : |
15.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
SNNC CO., LTD. |
|
|
|
|
Registered Office : |
2148-139, Jecheol-Ro, Gwangyang-Si, Jeollanam-Do, Korea 57812 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
18.05.2006 |
|
|
|
|
Com. Reg. No.: |
416-81-52508 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Manufacture of Ferro-Alloys. |
|
|
|
|
No. of Employees : |
291 |
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) |
|
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 |
SNNC CO., LTD. |
|
Registered Address |
2148-139, Jecheol-ro, Gwangyang-si,
Jeollanam-do, Korea |
|
Building |
|
|
Zip Code |
57812 |
|
Tel |
+82-61-797-9114 |
|
Fax |
+82-61-797-9191 |
|
E-mail |
parkhd@snnc.co.kr |
|
Website |
www.snnc.co.kr |
|
|
|
|
Trading Address |
2148-139, Jecheol-ro, Gwangyang-si,
Jeollanam-do, Korea (Old Address System : 878, Geumho-dong,
Gwangyang-si, Jeollanam-do, Korea) |
|
Tel |
+82-61-797-9114 |
|
Fax |
+82-61-797-9191 |
|
|
|
|
Type |
Export/Import |
|
Industry |
Manufacture of Ferro-Alloys |
|
Main Business |
Ferronickel |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
05/18/2006 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Ferronickel |
|
Name |
Lim Geun-Young |
|
Address |
Suite 103-1501, 40, Jindeung-gil,
Gwangyang-si, Jeollanam-do, Korea |
|
Date of Birth |
03/10/1956 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
185,000,000,000 |
||||||||||||
|
Employees |
291 |
||||||||||||
|
Formation |
Co., Ltd by Shares Foreign Direct Investment Corporation A Company of POSCO Group |
||||||||||||
|
Bank Details |
Woori Bank Kookmin Bank Korea Development Bank |
||||||||||||
|
Corporate Registered No. |
204611-0023415 |
||||||||||||
|
Business Registered No. |
416-81-52508 |
||||||||||||
|
Permit & Licenses |
N/A |
||||||||||||
|
Shareholder Position |
|
||||||||||||
|
Company History |
05/18/2006 Incorporated as the present name 06/28/2006 Registered as a Foreign Direct
Investment Corporation 09/04/2006 Increased the authorized shares to 42,000,000 KRW from 2,400,000
KRW 11/15/2007 Increased capital to 185,000,000,000 KRW from
120,000,000,000 KRW 08/01/2008 Moved to the present HQ address from 700, Geumho-dong,
Gwangyang-si, Jeollanam-do, Korea |
||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lim Geun-Young |
Male |
Korean |
07/20/2015 |
|
Director |
Mr. |
Choi Tae-Ho |
Male |
Korean |
03/19/2012 |
|
Director |
Mr. |
Andrei Danvengha |
Male |
French |
02/26/2008 |
|
Director |
Mr. |
Marcel Thomas |
Male |
French |
02/26/2008 |
|
Director |
Mr. |
Nocole Christopher Banier |
Male |
French |
07/22/2013 |
|
Director |
Mr. |
Carl Norbert Reon Andrederbi |
Male |
French |
11/07/2014 |
|
Director |
Mr. |
You Byung-Ok |
Male |
Korean |
03/16/2015 |
|
Auditor |
Mr. |
Philip Feriviore |
Male |
French |
09/04/2006 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
345,835,827,853 |
826,597,453,716 |
41,117,334,337 |
|
|
(*)2013 |
405,419,144,703 |
504,351,457,130 |
8,457,743,143 |
|
(*)2012 |
379,229,976,937 |
577,273,347,234 |
16,959,083,765 |
|
(*)2011 |
447,148,450,067 |
610,058,831,057 |
81,246,054,902 |
|
(*)2010 |
519,870,543,796 |
648,530,168,350 |
149,376,555,802 |
|
2009 |
368,348,636,617 |
505,055,034,008 |
85,685,888,345 |
|
2008 |
34,358,401,715 |
409,132,368,994 |
-47,958,883,951 |
(*)Figures are based
on the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
210,000,000,000 |
|
Paid-Up Capital(KRW) |
185,000,000,000 |
|
Total Issues Shares |
37,000,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total
Assets |
826,597,453,716 |
504,351,457,130 |
577,273,347,234 |
|
Current
Assets |
161,765,884,198 |
114,924,663,791 |
302,310,778,591 |
|
Cash
& Cash Equivalents |
30,537,458,750 |
31,266,095,040 |
62,870,697,021 |
|
Trade
Receivables |
7,069,642,789 |
19,349,540,023 |
37,188,384,633 |
|
Other
Finance Assets |
5,423,403,067 |
7,446,412,960 |
142,908,709,371 |
|
Other
Current Assets |
2,641,135,181 |
2,362,062,881 |
967,388,439 |
|
Inventories |
116,094,244,411 |
54,500,552,887 |
58,375,599,127 |
|
Non-Current
Assets |
664,831,569,518 |
389,426,793,339 |
274,962,568,643 |
|
Tangibles |
652,029,540,895 |
378,391,313,336 |
270,195,290,685 |
|
Intangibles |
2,947,435,622 |
1,201,336,233 |
1,496,266,055 |
|
Deferred
Income Tax Assets |
3,228,767,676 |
2,589,504,857 |
647,357,055 |
|
Marketable
Financial Instruments |
|
|
2,000,000 |
|
Other
Non-Current Assets |
726,902,080 |
1,894,017,485 |
52,702,035 |
|
Other
Non-Current Financial Assets |
5,898,923,245 |
5,350,621,428 |
2,568,952,813 |
|
Total
Liabilities |
528,246,009,117 |
235,829,883,090 |
261,780,528,344 |
|
Current
Liabilities |
120,851,991,372 |
107,947,297,669 |
109,989,137,421 |
|
Trade
Payables |
25,764,641,752 |
19,240,893,511 |
32,600,921,549 |
|
Other
Current Financial Debts |
55,285,748,609 |
54,810,158,454 |
42,378,913,066 |
|
Other
Current Liabilities |
157,931,724 |
121,261,570 |
87,888,762 |
|
Short-Term
Borrowings |
30,000,000,000 |
30,000,000,000 |
30,000,000,000 |
|
Deferred
Income Tax Credit |
6,823,498,039 |
2,144,654,773 |
2,844,320,432 |
|
Current
Portion of Provisions |
2,820,171,248 |
1,630,329,361 |
2,077,093,612 |
|
Non-Current
Liabilities |
407,394,017,745 |
127,882,585,421 |
151,791,390,923 |
|
Long-Term
Borrowings |
398,000,000,000 |
120,000,000,000 |
150,000,000,000 |
|
Other
Non-Current Financial Debts |
6,971,286,342 |
7,502,275,680 |
286,918,200 |
|
Deferred
Income Tax Credit |
2,422,731,403 |
380,309,741 |
1,504,472,723 |
|
Capital
Stock |
185,000,000,000 |
185,000,000,000 |
185,000,000,000 |
|
Profit
Surplus |
113,351,444,599 |
83,521,574,040 |
130,492,818,890 |
|
Total
Equity |
298,351,444,599 |
268,521,574,040 |
315,492,818,890 |
|
Liab.
& Shareholder’s Equity |
826,597,453,716 |
504,351,457,130 |
577,273,347,234 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
345,835,827,853 |
405,419,144,703 |
379,229,976,937 |
|
Cost
of Sold Goods |
288,383,934,651 |
377,841,911,645 |
348,080,459,529 |
|
Gross
Profit |
57,451,893,202 |
27,577,233,058 |
31,149,517,408 |
|
Logistics |
2,915,783,191 |
3,800,769,877 |
2,924,792,536 |
|
Admin.
Expenses |
10,582,628,441 |
9,744,198,852 |
9,459,876,295 |
|
Operating
Income |
43,953,481,570 |
14,032,264,329 |
18,764,848,577 |
|
Non-Operating
Profits |
225,243,498 |
-2,867,721,723 |
383,333,037 |
|
Non-Operating
Income |
3,478,716,839 |
411,275,963 |
908,682,096 |
|
Non-Operating
Expenses |
3,253,473,341 |
3,278,997,686 |
525,349,059 |
|
Finance
Profits |
-1,236,465,419 |
1,425,311,796 |
1,110,496,595 |
|
Finance
Income |
2,609,836,724 |
6,181,309,967 |
10,710,378,215 |
|
Finance
Expenses |
3,846,302,143 |
4,755,998,171 |
9,599,881,620 |
|
Income
Before Taxes |
42,942,259,649 |
12,589,854,402 |
20,258,678,209 |
|
Income
Taxes Expenses |
1,824,925,312 |
4,132,111,259 |
3,299,594,444 |
|
Net
Income |
41,117,334,337 |
8,457,743,143 |
16,959,083,765 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Operating Activities Cash Flows |
42,935,763,592 |
60,115,417,771 |
25,840,588,309 |
|
Cash
Flows from Operating |
49,498,707,055 |
66,953,094,682 |
34,458,947,224 |
|
Net
Income |
41,117,334,337 |
8,457,743,143 |
16,959,083,765 |
|
Adjustment |
31,571,855,829 |
55,590,165,641 |
51,496,803,514 |
|
Changes
in Asset/ & Liability |
-23,190,483,111 |
2,905,185,898 |
-33,996,940,055 |
|
Interests
Received |
336,348,919 |
5,706,866,614 |
8,460,672,590 |
|
Interests
Paid |
-9,362,800,069 |
-5,429,005,473 |
-5,859,250,249 |
|
Income
Taxes |
2,463,507,687 |
-7,115,538,052 |
-11,219,781,256 |
|
Cash
Flows from Investing |
-311,154,599,001 |
-5,221,019,752 |
77,943,150,173 |
|
Cash
Flows from Financing |
267,492,000,000 |
-86,499,000,000 |
23,783,155 |
|
Increase/Decrease
in Cash |
-726,835,409 |
-31,604,601,981 |
32,343,738,482 |
|
Cash
at the Beginning of Year |
31,266,095,040 |
62,870,697,021 |
30,526,958,539 |
|
Cash
at the End of Year |
30,537,458,750 |
31,266,095,040 |
62,870,697,021 |
|
Main Products & Services |
Ferronickel |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
NMC(NICKEL MINING COMPANY SAS : NEW CALEDONIA) COAL & ALLIED OPERATIONS PTY LTD.(AUSTRALIA) |
|
Customers |
POSCO(174611-0000741) |
|
Competitors |
RISTEC-BIZ CO., LTD. SAN 32, YOJA-DONG, NAM-GU, POHANG-SI,
GYEONGSANGBUK-DO, KOREA TEL:+82-54-279-6436 FAX:+82-54-279-6440 MECHEM KOREA CO., LTD. 9TH FL., ILJIN BLDG., 50-1, DOHWA-DONG,
MAPO-GU, SEOUL, KOREA TEL:+82-2-323-5193 FAX:+82-2-323-5195 KTC KOREA CO., LTD. 567-49, YEONNAM-DONG, MAPO-GU, SEOUL, KOREA TEL:+82-2-3144-5052 FAX:+82-2-3141-5846 |
|
Affiliates |
POSCO(174611-0000741) DAEWOO INTERNATIONAL CORPORATION(110111-2137358) POSCO COATED & COLOR STEEL CO.,
LTD.(174611-0006492) POSCO
ENGINEERING & CONSTRUCTION CO., LTD.(174611-0002979) POSDATA CO., LTD.(110111-0658637) POSCO REFRACTORIES & ENVIRONMENT CO.,
LTD.(174611-0001947) SAMJUNG PACKING AND ALUMINUM CO.,
LTD.(174611-0000866) POS-A.C. CO., LTD.(174611-0003448) POSCO ENGINEERING & CONSTRUCTION CO.,
LTD.(174611-0002979) POSCO RESEARCH INSTITUTE(110111-1042350) POSCON(174611-0002242) POSTEEL(110111-0344591) POSCO SPECIALTY STEEL CO., LTD.
(194211-0025248) POSCO MACHINERY CO., LTD.(206411-0010175) POSMEC(POSCO MACHINERY & ENGINEERING
CO., LTD.)(174611-0012176) POSCO TERMINAL CO., LTD.(204611-0017575) POSTECH VENTURE CAPITAL COOPERATION
(174611-0029080) POSMATE CO., LTD.(110111-0739841) POSCO POWER CORPORATION(110111-1829576) PHP CO., LTD.(120111-0421545) POSBRO(110111-3528986) POSCORE CO., LTD.(134811-0003343) RIZTECH BIZ CO., LTD. POSWITH CO., LTD.(171711-0075927) P&R CO., LTD. BASYS INDUSTRY CO. LTD.(110111-0954647) SUWON GREEN ENVIRONMENT
CORPORATION(134811-0133794) UI TRANS CO., LTD.(110111-3792309) DAKOS(131110-0246297) MAPO HIBROAD PARKING CO.,
LTD.(110111-4250140) PURE GIMPO CO., LTD.(110111-4290394) PLANT EST CO., LTD.(171711-0087592) UNIVERSAL STUDIOS RESORT DEVELOPMENT
CORPORATION(134811-0167222) METAPOLIS CO., LTD.(134811-0094475) SEOUNG GWANG CO., LTD.(120111-0222844) CHEONGNA IBT CO., LTD.(120111-0454520) POHANG FEUL CELL CO., LTD.(171711-0076256) MEGA ASSET CO., LTD.(161511-0097480) DAEWOO ENGINEERING COMPANY CO.,
LTD.(110111-0203268) |
|
|
|
|
Corporate Ownership |
SOCIETE MINIERE DU SUD PACIFIQUE(SMSP :
FRANCE) |
|
Major Shareholders |
SOCIETE MINIERE DU SUD PACIFIQUE(SMSP :
FRANCE) POSCO(174611-0000741) |
|
Cooperative Enterprise |
-Insured Company DONGBU INSURANCE CO.,LTD.(10111-0095285) KB INSURANCE CO., LTD.(110111-0017859) SAMSUNG FIRE & MARINE INSURANCE CO., LTD(110111-0005078) HYUNDAI MARINE & FIRE INSURANCE CO., LTD.(110111-0035893) |
The Subject deals
with the companies in Australia and New Caledonia.
No.
----------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.37 |
|
|
1 |
Rs.102.54 |
|
Euro |
1 |
Rs.75.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
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.