MIRA
INFORM REPORT
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Report Date : |
12.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
Daehwa
Industrial Machinery Co. Ltd |
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Registered Office : |
8B,
Waegwan, 2nd Indl. Complex, 676-1, Naksan-ri, Waegwan-eup, Chilgok-gun,
Gyeongsangbuk-Do |
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Country : |
Korea |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
09/01/1991 |
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Legal Form : |
Company Limited by shares |
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Line of Business : |
Manufacture
of Metal Cutting and Compressing Machines for Metal |
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
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Company Name |
Daehwa Industrial
Machinery Co. Ltd |
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Address |
676-1, Naksan-ri,
Waegwan-eup, Chilgok-gun, GYEONGSANGBUK-DO, KOREA |
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Building |
8B,
Waegwan, 2nd Indl. Complex |
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Zip Code |
718-801 |
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Tel |
+82-54-979-3000 |
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Fax |
+82-54-979-3030 |
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E-mail |
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Website |
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Type |
Export/Import |
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Industry |
Manufacture
of Metal Cutting and Compressing Machines for Metal |
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Main Business |
Coil
Loading System, Roller Leveler, Strip Tension Systems, Cold Roll Forming Line,
Rotary Shearing Line, Continuous Galvanizing Line |
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Established |
09/01/1991 |
Detailed Products
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Activity |
Detailed
Products (UNSPSC) |
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Sell |
Metal
bending and forming machinery(23171700) |
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Sell |
Metal
bending and forming machinery(23171700) |
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Sell |
Conveyors
and accessories(24101700) |
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Sell |
Workshop
machinery and equipment and supplies(23170000) |
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Buy |
Channels(30101800) |
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Buy |
Bearings(31171500) |
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Buy |
Pneumatic
cylinders(27131701) |
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Buy |
Seals(31181600) |
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Buy |
Gearmotors(26111526) |
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Buy |
Cable
trays(39121201) |
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Buy |
Train
braking systems(25171703) |
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Buy |
Spur
gears(31171707) |
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Buy |
Hydraulic
cylinders(27121602) |
Others
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Name |
Kim
Won-Yeon |
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Address |
1115-16, Suseong 4-ga, Suseong-gu, Daegu 706-034
Korea |
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Date of Birth |
12/14/1954 |
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Title |
President
& CEO |
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Sex |
Male |
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Nationality |
Korean |
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Capital |
600,000,000 KRW |
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Employees |
56 |
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Formation |
Co., Ltd by shares |
The subject deals with the companies in China,
India, Japan and Russia.
Management
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Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration Day |
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President & CEO |
Mr. |
Kim
Won-Yeon |
Male |
Korean |
04/03/2003 |
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Director |
Mr. |
Lee
Sang-Chul |
Male |
Korean |
04/25/2006 |
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Director |
Mr. |
Kim
Sung-Yon |
Male |
Korean |
04/25/2006 |
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Auditor |
Mr. |
Kim
Chang-Ki |
Male |
Korean |
04/25/2006 |
Financials
Unit: KRW
|
Year |
Sales |
Assets |
Net income |
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2005 |
25,992,745,215 |
23,089,903,922 |
1,674,558,715 |
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2004 |
21,329,467,751 |
14,464,613,430 |
921,516,770 |
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2003 |
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2002 |
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Financial Description
Unit: KRW
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Authorized
Capital |
2,400,000,000 |
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Paid-Up
Capital |
600,000,000 |
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Total Issues Shares |
120,000 |
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Balance
Sheet Unit :
Korean Won |
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As of
12/31/2005 |
As of
12/31/2004 |
As of
12/31/2003 |
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Total Assets |
23,089,903,922 |
14,464,613,430 |
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Current Assets |
16,787,721,142 |
9,834,357,149 |
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-Quick
Assets |
11,045,402,117 |
4,614,341,159 |
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-Inventories |
5,742,319,025 |
5,220,015,990 |
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Fixed
Assets |
6,302,182,780 |
4,630,256,281 |
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-Investment |
363,527,040 |
431,419,776 |
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-Tangibles |
5,938,655,740 |
4,198,836,505 |
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-Intangibles |
- |
- |
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Total Liabilities |
16,526,294,276 |
9,575,562,499 |
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Current Liabilities |
14,405,404,356 |
8,702,934,161 |
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Fixed Liabilities |
2,120,889,920 |
872,628,338 |
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Capital Stock |
600,000,000 |
600,000,000 |
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Capital Surplus |
172,466 |
172,466 |
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Profit Surplus |
5,963,437,180 |
4,288,878,465 |
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Capital Adjustment |
- |
- |
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Total Equity |
6,563,609,646 |
4,889,050,931 |
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Liab. & Shareholder’s Equity |
23,089,903,922 |
14,464,613,430 |
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Income Statement Unit : Korean Won |
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As of
12/31/2005 |
As of
12/31/2004 |
As of
12/31/2003 |
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Sales |
25,992,745,215 |
21,329,467,751 |
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Cost of Sold Goods |
23,668,007,198 |
18,798,275,245 |
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Gross Profit |
2,324,738,017 |
2,531,192,506 |
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Selling
& Admin. Expenses |
2,067,370,216 |
1,495,098,321 |
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Operating Income |
257,367,801 |
1,036,094,185 |
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Non-Operating Income |
2,432,665,135 |
351,530,868 |
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Non-Operating expenses |
766,508,884 |
354,212,182 |
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Ordinary Income |
1,923,524,052 |
1,033,412,871 |
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Special Income |
- |
- |
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Income Before Taxes |
1,923,524,052 |
1,033,412,871 |
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Income Taxes Expenses |
248,965,337 |
111,896,101 |
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Net Income |
1,674,558,715 |
921,516,770 |
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Bank Details |
Chohung Bank Bisan Dong Branch |
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Corporate
Registered No. |
170111-0054544 |
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Business
Registered No. |
503-81-18105 |
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Permit &
Licenses |
12/23/2000 ISO 9001 |
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Shareholder
Position |
Kim
Won-Yeon and his family have 99.5% shares. |
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Company
History |
May. 18, 1985 : Established Daehwa
Industrial Machinery Co. Aug. 1, 1985 : Started manufacturing and
supplying industrial machines (Coil line systems). Oct. 20, 1985 : Started manufacturing and supplying roll forming systems. Aug. 12, 1989 : Started manufacturing and
supplying continuous galvanizing line systems. Jan. 17, 1990 : Started manufacturing and supplying tube mill lines. Oct. 1990 : Exported roll forming line
systems to HDPIC MAXICO in Maxico. Aug. 1991 : Exported roll forming line to ASPEC in Indonesia. Sep. 1, 1991 : Established Daehwa Industrial
Machinery Co.,Ltd.(Succeeded to Daehwa Industrial Machinery Co. by totally
making the investment of articles) Nov. 5, 1991 : Obtained the license for importer and exporter business. Apr. 25, 1992 : Newly constructed and registered the factory (2210M˛) Oct. 20, 1992 : Admited to membership
Korea Association of Machinery Industry (KOAMI) Feb. 10, 1993 : Equipped the computer design system (CAD). Jun. 30, 1993 : Appointed as one of the promising companies by Chohung Bank. Aug. 1993 : Exported forming line to ANDA in China. Oct. 8, 1993 : Made the contract of business consortium with Honda Metal
Industry Co., Ltd. in Japan. Oct. 20, 1993 : Started manufacturing and
supplying continuous painting line. Dec. 21, 1994 : Appointed as the workshop
for special exemption from the military service by the office of Military
Manpower Administration. Feb. 1994 : Constructed a computerized production control system. Sep. 1995 : Started manufacturing and supplying blanking system. Apr. 1996 : Started manufacturing and
supplying coil line system for stainless steel. May. 1996 : Increase of factory (856 m˛) Dec. 1996 : Supplying development and
manufacturing flying shear system. Jun. 1998 : Constructed the second factory
(1760 m˛) Jan. 1999 : Exported Complete set of Shear
Line and Slitter Line (for 16mm thickness) to Nakayama Steel Works, Ltd . in
Japan. Jun. 2000 : Exported Terminal Equipment of
CGL (for ERDEMIR Turkey) to Kawasaki Heavy Ind. in Japan. Dec. 2000 : Obtainment for Certificate of
ISO9001 by Korean Standards Association. Dec. 2000 : Award for Certificate of
Highly Competitive Technology Company by Small and Medium Business
Administration. Apr. 2001 : Appointed Esatblish as
Exclusive of Research and Development Department by Korea Industrial
Technology Association. (KITA) May. 2001 : Admitted to a Member of Korea
industrial Technology Association(KITA) Nov. 2001 : Selected to INNO-BIZ Company
by Small and Medium Business Administration. Dec. 2001 : Completed the Extension of Main
Factory (Increased to total Area from 856m2 to 1,496.4m2) Jan. 2003 : Appointed as the CLEAN factory
by Korea Occupation Safety & Health Agency. Aug. 2003 : Revision for Certificate of
ISO9001 by Korean Standards Association. Dec. 2003 : Appointed as information
Management System by Korea Quality Assurance. Nov. 2004 : Confirmation as Venture
Company by Small and Medium Business Administration Nov. 2004 : Selected to INNO-BIZ Company
by Small and Medium Business administration. Dec. 2004 : Award for lead to Korea
Technology Credit Guarantee Fund of Superior Technology Company. Aug. 2005 : Newly constructed present head
office with factory in Waegwan. (Area 20,815m2, Building 6,642.89 m2) Sep. 2005 Moved to the present address |
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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