September 6, 2023 | Investopaper
ICRA Nepal, a prominent credit rating agency, has recently assigned an issuer rating of [ICRANP-IR] BB for SY Panel Nepal Limited. This rating signifies a moderate risk associated with the timely fulfillment of financial obligations by the company.
Established in July 2017, SY Panel Nepal Limited (SYPNL) specializes in the production of EPS (expanded polystyrene) and PUFF (polyurethane foam) sandwich panels, UPVC windows, steel doors, and EPS materials. The company has a substantial production capacity of 5.38 million square feet of sandwich panels, 6,000 units of UPVC windows, and 7,500 units of steel doors.
The company’s manufacturing facility is situated in Ratnanagar, Chitwan, and it maintains a widespread presence across the nation through a network of 52 dealers.
SYPNL, as a subsidiary of SY Co. Limited from South Korea, holds strong ties with its parent company, which possesses extensive experience dating back to 2000. SY Co. Limited enjoys a substantial market share in the prefabricated materials industry and has made strategic overseas investments in countries such as Vietnam, Indonesia, China, Cambodia, and Nepal.