MIRA
INFORM REPORT
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Report Date : |
13th
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
DAECHANG
CHEMICAL CO. LTD. |
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Formerly Known as: |
TOP LINE CO., LTD. |
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Registered Office : |
34-1,
Mapo-dong, Mapo-gu, Seoul, Korea |
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Country : |
Korea |
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Financials (as on) : |
31.12.2004 |
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Date of Incorporation : |
04.11.1996 |
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Legal Form : |
Company
Limited by Shares |
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Line of Business : |
Wholesale
of Other Intermediate Products, Waste and Scrap n.e.c. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
Basic
Information
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Company Name |
Daechang Chemical
Co. Ltd. |
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Address |
34-1, Mapo-dong,
Mapo-gu, SEOUL, KOREA |
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Building |
Rm.
407, Sinhwa Bldg. |
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Zip Code |
121-735 |
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Tel |
+82-2-715-0046 |
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Fax |
+82-2-715-0844 |
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E-mail |
dhl2044@naver.com; DHL2044@hanmail.net |
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Type |
Export/Import |
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Industry |
Wholesale
of Other Intermediate Products, Waste and Scrap n.e.c. |
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Main Business |
Magnesite,
Kieserite, Castorseed-Meal, Borax |
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Established |
11/04/1996 |
Detailed Products
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Activity |
Detailed
Products (UNSPSC) |
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Sell |
Inorganic
compounds(12352300) |
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Sell |
Chemical
fertilizers and plant nutrients(10171600) |
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Sell |
Magnesite(11101509) |
Others
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Name |
Lee Dae-Hwan |
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Address |
168, Yeonhui-dong, Seodaemun-gu, Seoul 120-110 Korea |
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Date of
Birth |
03/06/1955 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
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Capital |
50,00,000 KRW |
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Employees |
6 |
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Formation |
Co., Ltd by shares |
The subject deals with the companies in Belgium,
China and South-East Asia.
Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Day |
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President & CEO |
Mr. |
Lee Dae-Hwan |
Male |
Korean |
10/07/2005 |
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Director |
Mr. |
Yu
Sun-Tae |
Male |
Korean |
02/04/1998 |
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Director |
M/S. |
Kwak
Min-Hwa |
Female |
Korean |
02/04/1998 |
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Auditor |
Mr. |
Choi
Yoon-Sik |
Male |
Korean |
02/04/1998 |
Financials
Unit:
KRW
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Year |
Sales |
Assets |
Net income |
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2005 |
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2004 |
8,134,000,000 |
2,024,000,000 |
179,000,000 |
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2003 |
6,429,000,000 |
1,520,000,000 |
138,000,000 |
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2002 |
8,043,000,000 |
1,991,000,000 |
181,000,000 |
The latest financial is not available.
Financial
Description
Unit: KRW
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Authorized
Capital |
200,000,000 |
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Paid-Up
Capital |
50,000,000 |
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Total Issues Shares |
10,000 |
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Balance Sheet Unit : Million Korean Won |
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As of 12/31/2004 |
As of 12/31/2003 |
As of 12/31/2002 |
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Total Assets |
2,024 |
1,520 |
1,991 |
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Current Assets |
1,949 |
1,335 |
1,926 |
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-Quick
Assets |
1,674 |
1,249 |
1,866 |
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-Inventories |
275 |
86 |
60 |
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Fixed
Assets |
74 |
185 |
65 |
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-Investment |
32 |
129 |
14 |
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-Tangibles |
42 |
56 |
51 |
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-Intangibles |
- |
- |
- |
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Total Liabilities |
1,346 |
940 |
1,548 |
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Current Liabilities |
1,302 |
914 |
1,535 |
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Fixed Liabilities |
44 |
26 |
12 |
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Capital Stock |
50 |
50 |
- |
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Capital Surplus |
- |
- |
- |
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Profit Surplus |
628 |
530 |
- |
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Capital Adjustment |
- |
- |
- |
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Total Equity |
678 |
580 |
443 |
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Liab. & Shareholder’s Equity |
2,024 |
1,520 |
1,991 |
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Income Statement Unit : Million Korean
Won |
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As of 12/31/2004 |
As of 12/31/2003 |
As of 12/31/2002 |
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Sales |
8,134 |
6,429 |
8,043 |
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Cost of Sold Goods |
6,713 |
5,232 |
6,692 |
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Gross Profit |
1,421 |
1,196 |
1,351 |
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Selling
& Admin. Expenses |
1,267 |
1,044 |
1,108 |
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Operating Income |
154 |
152 |
243 |
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Non-Operating Income |
102 |
57 |
29 |
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Non-Operating expenses |
34 |
46 |
37 |
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Ordinary Income |
221 |
164 |
235 |
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Special Income |
13 |
10 |
- |
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Income Before Taxes |
234 |
174 |
- |
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Income Taxes Expenses |
56 |
36 |
- |
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Net Income |
179 |
138 |
181 |
Bank
Details
Chohung
Bank
Corporate
Registered No.
110111-1337389
Business
Registered No.
117-81-17846
Permit
& Licenses
Int’l Trade
No.; 9616903
Shareholder
Position
N/A
Company
History
11/04/1996 Established Top Line Co., Ltd.
05/24/1999 Changed company name to the
present name
07/10/2002 Moved to the present address
Products, Technologies, Services
Description
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Main Products & Services |
Chemicals
including Bio Chemicals and Gas Materials Compounds
and mixtures Live
Plant and Animal Material and Accessories and Supplies Fertilizers
and plant nutrients and herbicides Mineral
and Textile and Inedible Plant and Animal Materials Minerals
and ores and metals Minerals |
Trade
Partners
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Customers |
The subject imports the raw materials for
fertilizer and sells to the major fertilizer manufacturers. |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base
with the strongest capability for timely payment of interest and principal
sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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