MIRA
INFORM REPORT
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Report Date : |
22.09.2007 |
IDENTIFICATION DETAILS
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Name : |
DOBEST CO., LTD. |
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Registered Office : |
105-112, Gongdeok 1-dong, Mapo-gu, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
02/01/1989 |
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Legal Form : |
Company Limited by shares |
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Line of Business : |
Wholesale of Spun Fibers and Yarns. |
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 : |
Regular |
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Litigation : |
Clear |
Basic
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Company
Name |
DOBEST CO., LTD. |
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Registered Address |
105-112, Gongdeok 1-dong, Mapo-gu, |
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Zip Code |
121-801 |
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Tel |
+82-2-3271-3800 |
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Fax |
+82-2-3271-3899 |
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E-mail |
dobest@dobest.co.kr;jerry@dobest.co.kr;cinkee@dobest.co.kr |
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Website |
www.dobest.co.kr |
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Trading Address |
105-112, Gongdeok 1-dong, Mapo-gu, |
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Tel |
+82-2-3271-3800 |
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Fax |
+82-2-713-7037 |
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Type |
Export/Import |
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Industry |
Wholesale of Spun Fibers and Yarns |
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Main Business |
Polyester Yarn, Spandex Yarn, Nylon Yarn, Arcrylic Yarn, Chip, Spun
Yarn |
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Established (mm/dd/yyyy) |
02/01/1989 |
The Subject owns
the premises of registered address.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
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Sell |
Synthetic yarn(11151709) |
CEO’s
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Name |
Park Jong-Gook |
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Address |
230-61, Gugi-dong ,Jongno-gu, |
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Date of Birth |
10/19/1956 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
|
Capital |
1,200,000,000 KRW |
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Employees |
8 |
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Formation |
Co., Ltd by shares Foreign Direct Investment Corporation by Luxemburg |
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Bank Details |
Shinhan Bank-Mapo Branch Kookmin Bank |
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Corporate Registered No. |
110111-0608319 |
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Business Registered No. |
110-81-20812 |
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Permit & Licenses |
N/A |
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Shareholder Position |
Park Jong-Gook & His Family(1) have 60.84% Others: 39.16% |
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Company History |
02/01/1989 Incorporated as the present
name 02/27/1999 Moved to the present address from
5-2, Sunhwa-dong ,Jung-gu, 10/14/2000 Increased capital to
1,200,000,000 KRW from 800,710,000 KRW |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Day |
|
President & CEO |
Mr. |
Park Jong-Gook |
Male |
Korean |
02/01/1989 |
|
Director |
Mr. |
Chae In-Ki |
Male |
Korean |
10/24/2001 |
|
Director |
Mr. |
Yoon Jang-Han |
Male |
Korean |
03/25/2006 |
|
Auditor |
M/S. |
Lee Hyun-Young |
Female |
Korean |
03/25/2006 |
Financials
Unit: KRW
|
Year |
Sales |
Assets |
Net income |
|
45,706,375,315 |
8,460,465,818 |
(-)576,333,809 |
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|
2005 |
45,664,516,684 |
13,643,140,246 |
210,710,635 |
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2004 |
40,134,081,599 |
9,904,976,873 |
(-)404,283,313 |
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2003 |
42,803,731,350 |
7,165,308,219 |
(-)79,869,287 |
Financial
Description
Unit: KRW
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Authorized Capital |
5,000,000,000 |
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Paid-Up Capital |
1,200,000,000 |
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Total Issues Shares |
240,000 |
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Balance Sheet |
|||
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Unit : Korean Won |
As of 12/31/2006 |
As of 12/31/2005 |
As of 12/31/2004 |
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Total Assets |
8,460,465,818 |
13,643,140,246 |
9,904,976,873 |
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Current Assets |
6,499,880,302 |
11,458,826,823 |
8,047,885,160 |
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-Quick Assets |
5,156,542,084 |
7,570,472,000 |
4,736,305,960 |
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-Inventories |
1,343,338,218 |
3,888,354,823 |
3,311,579,200 |
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Fixed Assets |
1,960,585,516 |
2,184,313,423 |
1,857,091,713 |
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-Investment |
1,124,494,759 |
1,389,087,584 |
1,052,015,805 |
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-Tangibles |
836,090,757 |
795,225,839 |
802,675,908 |
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-Intangibles |
- |
- |
2,400,000 |
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Total Liabilities |
6,074,719,904 |
10,681,060,523 |
7,153,607,785 |
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Current Liabilities |
6,074,719,904 |
7,749,505,174 |
4,255,111,313 |
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Fixed Liabilities |
- |
2,931,555,349 |
2,898,496,472 |
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Capital Stock |
1,200,000,000 |
1,200,000,000 |
1,200,000,000 |
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Capital Surplus |
5,350,284 |
5,350,284 |
5,350,284 |
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Profit Surplus |
1,180,395,630 |
1,756,729,439 |
1,546,018,804 |
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Capital Adjustment |
- |
- |
- |
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Total Equity |
2,385,745,914 |
2,962,079,723 |
2,751,369,088 |
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Liab. & Shareholder’s Equity |
8,460,465,818 |
13,643,140,246 |
9,904,976,873 |
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Current
Liabilities |
6,074,719,904 |
7,749,505,174 |
4,255,111,313 |
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Trade Payables |
2,002,574,842 |
4,032,118,648 |
3,059,599,243 |
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Short-Term Borrowings |
574,200,000 |
2,114,600,000 |
617,600,000 |
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Accrued Expenses |
18,305,707 |
19,669,885 |
19,276,442 |
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Account Payables |
489,419,716 |
1,342,083,171 |
384,391,397 |
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Advance Receipts |
17,249,519 |
208,573,130 |
171,112,511 |
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Withholdings |
6,037,050 |
4,261,940 |
3,131,720 |
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Accrued Income Tax |
- |
28,198,400 |
- |
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Fixed
Liabilities |
- |
2,931,555,349 |
2,898,496,472 |
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Debentures |
- |
2,931,555,349 |
2,898,496,472 |
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Provision for Severance & Retirement |
38,127,575 |
48,850,647 |
22,857,776 |
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Income Statement |
|||
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Unit : Korean Won |
As of 12/31/2006 |
As of 12/31/2005 |
As of 12/31/2004 |
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Sales |
45,706,375,315 |
45,664,516,684 |
40,134,081,599 |
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Cost of Sold Goods |
41,178,534,264 |
39,601,906,837 |
37,006,414,672 |
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Gross Profit |
4,527,841,051 |
6,062,609,847 |
3,127,666,927 |
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Selling & Admin. Expenses |
3,915,446,129 |
5,021,794,346 |
3,141,094,421 |
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Operating Income |
612,394,922 |
1,040,815,501 |
(-)13,427,494 |
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Non-Operating Income |
493,411,610 |
550,842,492 |
639,791,451 |
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Non-Operating expenses |
1,682,140,341 |
1,350,642,468 |
1,030,647,270 |
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Ordinary Income |
(-)576,333,809 |
241,015,525 |
(-)404,283,313 |
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Special Income |
- |
- |
- |
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Income Before Taxes |
(-)576,333,809 |
241,015,525 |
(-)404,283,313 |
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Income Taxes Expenses |
- |
30,304,890 |
- |
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Net Income |
(-)576,333,809 |
210,710,635 |
(-)404,283,313 |
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Cash Flows |
|||
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Unit : Korean Won |
As of 12/31/2006 |
As of 12/31/2005 |
As of 12/31/2004 |
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Cash Flows from Operating |
2,000,222,620 |
(-)3,321,153,452 |
(-)1,158,388,378 |
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-Net Income |
(-)576,333,809 |
210,710,635 |
(-)404,283,313 |
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-Exp. without Cash Outflow |
192,605,979 |
302,576,168 |
271,322,404 |
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-Revenue
without Cash Inflows |
(-)13,419,342 |
(-)35,053,404 |
(-)35,264,381 |
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-Changes in
Asset/ & Liability |
2,397,369,792 |
(-)3,799,386,851 |
(-)990,163,088 |
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Cash Flows
from Investing |
(-)313,292,238 |
858,654,742 |
(-)1,262,918,241 |
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-Cash Inflow
from Investing |
1,056,076,959 |
1,040,303,541 |
4,048,283 |
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-Cash
Outflows for Investing |
(-)1,369,369,197 |
(-)181,648,799 |
(-)1,266,966,524 |
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Cash Flows
from Financing |
(-)1,540,400,000 |
1,497,000,000 |
2,719,840,000 |
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-Cash
Inflows from Financing |
1,241,000,267 |
1,497,000,000 |
3,512,140,000 |
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-Cash
Outflows from Financing |
(-)2,781,400,267 |
- |
(-)792,300,000 |
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Increase/Decrease
in Cash |
146,530,382 |
(-)965,498,710 |
298,533,381 |
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Cash at the
Beginning of Year |
142,920,282 |
1,108,418,992 |
809,885,611 |
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Cash at the End of Year |
289,450,664 |
142,920,282 |
1,108,418,992 |
Products,
Technologies, Services
Description
|
Main Products & Services |
POLYESTER SPANDEX NYLON ACRYLIC CHIP SPUN YARN |
Trade Partners
|
Suppliers |
TONGKOOK CORP.(110111-0059950) |
Related Parties
(Subsidiaries, Joint-
Venture &
Affiliates)
|
Subsidiary |
A-IN SYNTHETICS CO., LTD. (85.7% held by
the subject company) |
Sales by Region (Activity
& Markets)
The Subject deals with the companies in
Court Action
No.
RATING EXPLANATIONS
|
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. |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)