|
Report No. : |
343211 |
|
Report Date : |
30.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
SAMJUNG TECH
CO., LTD. |
|
|
|
|
Registered Office : |
337, Eonju-ro, Gangnam-gu, Seoul |
|
|
|
|
Country : |
Korea (South) |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
12.07.1999 |
|
|
|
|
Com. Reg. No.: |
220-81-71883 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Manufacture of Industrial Refrigerators and Refrigerating Equipment. |
|
|
|
|
No. of Employee : |
67 |
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 AsianFINANCIAL 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 FreeTRADE 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 |
SAMJUNG TECH
CO., LTD. |
|
Registered Address |
337, Eonju-ro, Gangnam-gu, Seoul, Korea |
|
Building |
9th Fl., Dongyoung Culture Center |
|
Zip Code |
06226 |
|
Tel |
+82-2-568-9306 |
|
Fax |
+82-2-568-1795 |
|
E-mail |
|
|
Website |
|
|
Trading Address |
9th Fl., Dongyoung Culture Center, 337,
Eonju-ro, Gangnam-gu, Seoul, Korea (Old Address System : 9th Fl., Dongyoung
Culture Center, 772, Yeoksam 2-dong, Gangnam-gu, Seoul, Korea) |
|
Tel |
+82-2-568-9306 |
|
Fax |
+82-2-568-1795 |
|
Other Address-Gimpo Factory |
542-2, Chowonji-ri, Daegot-myeon,
Gimpo-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-981-2296 |
|
Fax |
+82-31-981-2298 |
|
Other Address-Changwon Factory |
69 Shinchon-dong, Changwon-shi, Gyeongsangnam-do, Korea |
|
Tel |
+82-55-285-3410 |
|
Fax |
+82-55-285-3403 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Industrial Refrigerators and Refrigerating Equipment |
|
Main Business |
Refrigeration & Air Conditioning System, Chiller System, Absorption
Chiller, Mechanical Parking System, Platform Screen Doors System, Steel
Structure Construction, Fire Fighting Facility Construction |
|
Sub
Business |
Manufacture of Elevators |
|
Established (mm/dd/yyyy) |
12/07/1999 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Lifting equipment and accessories(24101600) |
|
Sell |
Parking meters(46161505) |
|
Sell |
Heating and ventilation and air circulation(40100000) |
|
Sell |
Autoclave and sterilizer equipment and accessories(42281500) |
|
Sell |
Evaporative coolers(40101703) |
|
Sell |
Air conditioners(40101701) |
|
Sell |
Cooling(40101700) |
|
Sell |
Heating equipment and parts and accessories(40101800) |
|
Name |
Choi Jong-Wan |
|
Address |
Suite 1-1103, 11, Sincheon-dong,
Siheung-si, Gyeonggi-do, Korea |
|
Date of Birth |
10/03/1954 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
3,750,000,000 |
|||||||||||||||||||||||||||
|
Employees |
67 |
|||||||||||||||||||||||||||
|
Formation |
Co., Ltd by shares |
|||||||||||||||||||||||||||
|
Bank Details |
KEB Hana Bank Industrial Bank of Korea Kookmin Bank Woori Bank |
|||||||||||||||||||||||||||
|
Corporate Registered No. |
110111-1823445 |
|||||||||||||||||||||||||||
|
Business Registered No. |
220-81-71883 |
|||||||||||||||||||||||||||
|
Permit & Licenses |
11/2002 ISO 9001 10/2008 ISO 14001 Int’l Trade No.: 24025034 |
|||||||||||||||||||||||||||
|
Shareholder Position |
|
|||||||||||||||||||||||||||
|
Company History |
12/07/1999 Incorporated as the present name
after spin off from SAMSUNG HEAVY INDUSTRIES CO., LTD.(110111-0168595) 01/30/2002 Increased the authorized shares to 50,000,000 shares from
5,000,000 shares 03/06/2002 Spin off the par value to 500 KRW
from 5,000 KRW 09/28/2001 Purchased Gimpo Factory 06/26/2002 Passed the primary appreciation
to list at KOSDAQ Market 11/12/2006 Moved to the present HQ address
from 732-24, Yeoksam-dong, Gangnam-gu, Seoul, Korea 12/02/2009 Increased capital to 3,750,000,000
KRW from 2,890,000,000 KRW |
|||||||||||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Choi Jong-Wan |
Male |
Korean |
01/12/2005 |
|
Outside Director |
Mr. |
Jung Kyun-Hwa |
Male |
Korean |
03/31/2005 |
|
Vice President |
Mr. |
Kim Young-Koo |
Male |
Korean |
03/30/2007 |
|
Auditor |
Mr. |
Kim Jung-Kwon |
Male |
Korean |
12/07/1999 |
|
Auditor |
Mr. |
Kum Sung |
Male |
Korean |
11/27/2004 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
25,012,342,689 |
34,242,284,105 |
229,252,246 |
|
|
2014 |
63,686,192,511 |
32,778,654,971 |
420,567,282 |
|
2013 |
68,263,962,325 |
38,014,442,955 |
215,676,388 |
|
2012 |
54,035,347,078 |
36,916,904,384 |
4,309,152,158 |
|
2011 |
75,283,437,334 |
41,485,670,367 |
-10,800,019,821 |
|
2010 |
83,797,583,822 |
44,552,313,436 |
917,551,215 |
|
2009 |
96,568,631,584 |
49,185,335,190 |
2,187,865,322 |
|
2008 |
67,290,760,874 |
38,850,742,147 |
1,492,100,898 |
|
2007 |
61,673,074,599 |
26,406,657,180 |
1,061,388,475 |
|
2006 |
47,023,690,247 |
33,140,753,520 |
524,539,084 |
|
2005 |
37,063,908,262 |
29,357,444,785 |
220,533,030 |
|
2004 |
47,626,335,296 |
29,824,866,153 |
-668,425,853 |
|
Authorized Capital(KRW) |
25,000,000,000 |
|
Paid-Up Capital(KRW) |
3,750,000,000 |
|
Total Issued Shares |
7,500,000 |
|
Unit : Korean Won |
01/01/2015~06/30/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Total Assets |
34,242,284,105 |
32,778,654,971 |
38,014,442,955 |
|
Current Assets |
27,803,325,889 |
26,290,473,094 |
31,273,729,330 |
|
-Quick Assets |
27,637,700,952 |
26,204,868,094 |
31,242,632,576 |
|
-Inventories |
165,624,937 |
85,605,000 |
31,096,754 |
|
Fixed Assets |
6,438,958,216 |
6,488,181,877 |
6,740,713,625 |
|
-Investment |
1,847,636,206 |
1,932,495,057 |
1,972,972,150 |
|
-Tangibles |
670,850,463 |
674,082,692 |
801,084,525 |
|
-Intangibles |
24,916,846 |
20,519,272 |
44,710,455 |
|
-Others |
3,895,554,701 |
3,861,084,856 |
3,921,946,495 |
|
Total Liabilities |
27,696,771,784 |
26,462,394,896 |
32,118,750,162 |
|
Current Liabilities |
23,687,408,691 |
22,590,967,504 |
27,886,294,804 |
|
Fixed Liabilities |
4,009,363,093 |
3,871,427,392 |
4,232,455,358 |
|
Capital Stock |
3,750,000,000 |
3,750,000,000 |
3,750,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
2,795,512,321 |
2,566,260,075 |
2,145,692,793 |
|
Capital Adjustment |
|
|
|
|
Total Equity |
6,545,512,321 |
6,316,260,075 |
5,895,692,793 |
|
Liab. & Shareholder’s Equity |
34,242,284,105 |
32,778,654,971 |
38,014,442,955 |
|
Current
Liabilities |
23,687,408,691 |
22,590,967,504 |
27,886,294,804 |
|
Trade
Payables |
15,225,695,119 |
19,377,469,697 |
22,145,594,235 |
|
Account
Payables |
899,399,550 |
501,717,372 |
607,139,906 |
|
Withholdings |
127,948,940 |
150,559,256 |
269,966,755 |
|
VAT
Withhold |
- |
174,760,670 |
559,263,690 |
|
Advance
Receipts |
1,327,027,432 |
31,924,400 |
118,441,000 |
|
Short-Term
Borrowings |
6,105,000,009 |
1,600,000,000 |
1,176,000,000 |
|
Accrued
Expenses |
2,337,641 |
4,536,109 |
9,889,218 |
|
Current Portion of Long-Term Debts |
- |
750,000,000 |
3,000,000,000 |
|
Fixed Liabilities |
4,009,363,093 |
3,871,427,392 |
4,232,455,358 |
|
Long-Term Borrowings |
- |
- |
750,000,000 |
|
Leasehold Deposit Received |
10,000,000 |
15,000,000 |
5,000,000 |
|
Provision for Severance & Retirement |
-143,545,705 |
-143,545,705 |
-142,199,868 |
|
Deposits
for Agreement |
26,079,928 |
26,079,928 |
26,079,928 |
|
Provision
for Construction Losses |
|
- |
120,000,000 |
|
Provision
for Repairing |
338,576,857 |
338,576,857 |
338,576,857 |
|
Unit : Korean Won |
01/01/2015~06/30/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Sales |
25,012,342,689 |
63,686,192,511 |
68,263,962,325 |
|
Cost of Sold Goods |
22,845,832,567 |
58,529,979,835 |
63,234,604,995 |
|
Gross Profit |
2,166,510,122 |
5,156,212,676 |
5,029,357,330 |
|
Selling & Admin. Expenses |
1,825,067,713 |
4,317,906,720 |
4,261,857,170 |
|
Operating Income |
341,442,409 |
838,305,956 |
767,500,160 |
|
Non-Operating Income |
138,944,185 |
416,981,719 |
568,959,144 |
|
Non-Operating Expenses |
251,134,348 |
834,720,393 |
901,694,338 |
|
Income Before Taxes |
229,252,246 |
420,567,282 |
434,764,966 |
|
Income Taxes Expenses |
- |
- |
219,088,578 |
|
Net Income |
229,252,246 |
420,567,282 |
215,676,388 |
|
Unit : Korean Won |
01/01/2015~06/30/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Cash Flows from Operating |
2,199,385,461 |
-1,485,719,675 |
-210,434,415 |
|
-Net Income |
229,252,246 |
420,567,282 |
215,676,388 |
|
-Exp. without Cash Outflow |
291,385,076 |
1,221,178,870 |
1,032,510,565 |
|
-Revenue without Cash Inflows |
-3,406,181 |
-131,673,057 |
-59,111,179 |
|
-Changes in Asset/ & Liability |
1,682,154,320 |
-2,995,792,770 |
-1,399,510,189 |
|
Cash Flows from Investing |
51,592,380 |
2,604,589,714 |
197,602,286 |
|
-Cash Inflow from Investing |
23,904,455,861 |
20,321,036,935 |
27,607,556,605 |
|
-Cash Outflows for Investing |
-23,852,863,481 |
-17,716,447,221 |
-27,409,954,319 |
|
Cash Flows from Financing |
3,755,000,009 |
-2,576,000,000 |
-2,074,000,000 |
|
-Cash Inflows from Financing |
10,915,000,009 |
9,600,000,000 |
9,376,000,000 |
|
-Cash Outflows from Financing |
-7,160,000,000 |
-12,176,000,000 |
-11,450,000,000 |
|
Increase/Decrease in Cash |
6,005,977,850 |
-1,457,129,961 |
-2,086,832,129 |
|
Cash at the Beginning of Year |
302,641,192 |
1,759,771,153 |
3,846,603,282 |
|
Cash at the End of Year |
6,308,619,042 |
302,641,192 |
1,759,771,153 |
|
Main Products & Services |
Refrigeration & Air Conditioning System, Chiller System, Absorption
Chiller, Mechanical Parking System, Platform Screen Doors System, Steel
Structure Construction, Fire Fighting Facility Construction |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
WISTCO CO., LTD.(120111-0060138) TAIBONG INDUSTRIES INC.(110111-0507305) SAMJUNG MACHINERY-ELECTRIC CO.,
LTD.(124411-0047028) SAMJUNG PARKING SYSTEM CO.,
LTD.(110111-2059544) SAMJUNG GONGJO ENG CO.,
LTD.(110111-2173667) SAMJUNG SYSTEM CO., LTD.(194211-0047862) |
|
Customers |
|
|
Competitors |
LS INDUSTRIAL SYSTEMS CO.,
LTD.(110111-0520076) KITURAMI-BUMYANG AIR CONDITIONING
CO.,LTD.(134111-0002000) LOTTE ENGINEERING & MACHINERY MFG. CO.,
LTD.(110111-0154560) HYUNDAI ELEVATOR CO., LTD.(134411-0001519) DONGYANG MECHATRONICS CORP.(194211-0000472) |
|
Affiliates |
SAMJUNG PARKING SYSTEM CO.,
LTD.(110111-2059544) SAMJUNG GONGJO ENG CO.,
LTD.(110111-2173667) SAMJUNG MACHINERY-ELECTRIC CO.,
LTD.(124411-0047028) SAMJUNG SYSTEM CO., LTD.(194211-0047862) |
|
Overseas Office |
|
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
|
|
Subsidiary |
SAMJUNG TECH CONSTRUCTION CO.,
LTD.(124411-0089385) (100.0% held by the subject company) |
|
Corporate Ownership |
|
|
Major Shareholders |
|
|
Cooperative Enterprise |
-Technical Alliance with FAIVELEY(FRANCE) -Insured Company MG NON-LIFE INSURANCE CO., LTD.(110111-5065077) |
|
Sales/ Unit :Mil KRW |
09/2011 |
2010 |
2009 |
|
Export |
1,659 |
10,436 |
1,491 |
|
Domestic |
65,150 |
73,362 |
95,078 |
|
Total |
66,809 |
83,798 |
96,569 |
The Subject exports
to Iran, Pakistan, Russia, Malaysia and Vietnam.
No.
----
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.18 |
|
|
1 |
Rs.100.46 |
|
Euro |
1 |
Rs.74.61 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.