MIRA
INFORM REPORT
|
Report Date : |
04.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
DONGKOOK
CHEMICAL CO., LTD. |
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Registered Office : |
9th Fl., Gabeul Bldg, 2-5, Garwol-dong, Yongsan-gu, Seoul 140-800 |
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Country : |
Korea |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
30.04.1971 |
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Com. Reg. No.: |
106-81-12268 |
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Legal Form : |
Company Limited by Shares |
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Line of Business : |
Manufacture of Synthetic Colouring Matter, Tanning Materials and Other
Coloring Agents |
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 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Exists |
Basic
|
Company
Name |
DONGKOOK CHEMICAL
CO., LTD. (Korean Company
Name : “동국화공”) |
|
Registered Address |
2-5, Garwol-dong, Yongsan-gu, Seoul, Korea |
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Building |
9th Fl., Gabeul Bldg. |
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Zip Code |
140-800 |
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Tel |
+82-2-773-2001~3 |
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Fax |
+82-2-752-8770 |
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E-mail |
webmaster@dkchem.co.kr;philwon@dkchem.co.kr;okla08@naver.com;
bluesky197479@hotmail.net;stp9702@hanmail.net |
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Website |
www.dkchem.co.kr |
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Trading Address |
9th Fl., Gabeul Bldg., 2-5, Garwol-dong,
Yongsan-gu, Seoul, Korea |
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Tel |
+82-2-773-2001~3 |
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Fax |
+82-2-752-8770 |
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Other Address-Gunpo Factory |
500, Dangjeong-dong, Gunpo-si, Gyeonggi-do
435-833 Korea |
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Tel |
+82-31-451-1521~8 |
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Fax |
+82-31-452-2312 |
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Type |
Export |
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Industry |
Manufacture of Synthetic Colouring Matter, Tanning Materials and Other
Coloring Agents |
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Main Business |
Dyes, Surfactant |
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Sub Business |
Manufacture of Surface-Active Agents |
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Established (mm/dd/yyyy) |
04/30/1971 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
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Sell |
Surfactants(12161900) |
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Sell |
Textile printing(82121510) |
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Sell |
Dyes(12171500) |
CEO’s
|
Name |
Park Hyo-Sang |
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Address |
41-2, Nonhyeon-dong, Gangnam-gu, Seoul, Korea |
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Date of Birth |
09/12/1958 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
|
Capital |
3,600,000,000 KRW |
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Employees |
13 |
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Formation |
Co., Ltd by shares A Company of KABUL INTERNATIONAL GROUP |
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Bank Details |
Korea Exchange Bank Shinhan Bank Woori Bank-Dongja Dong Brancg |
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Corporate Registered No. |
110111-0114291 |
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Business Registered No. |
106-81-12268 |
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Permit & Licenses |
04/10/2001 NT Mark Int’l Trade No.: 8116608 |
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Shareholder Position |
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Company History |
04/30/1971 Incorporated as SANDUCK INDUSTRY
CO., LTD. 04/01/1980 Changed company name to the
present name |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Park Hyo-Sang |
Male |
Korean |
03/26/2004 |
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Director |
Mr. |
Park Yu-Sang |
Male |
Korean |
03/19/1992 |
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Director |
Mr. |
Park Han-Sang |
Male |
Korean |
03/19/1992 |
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Auditor |
Mr. |
Kim Byung-Keuk |
Male |
Korean |
10/30/1995 |
Financials
Unit: KRW
|
Year |
Sales |
Assets |
Net income |
|
3,813,100,544 |
16,981,339,434 |
(-) 371,143,853 |
|
|
2006 |
3,627,232,504 |
17,510,791,373 |
(-) 415,938,108 |
|
2005 |
5,915,770,686 |
17,993,058,088 |
(-) 1,887,516,716 |
|
2004 |
11,279,451,547 |
21,150,159,800 |
259,438,425 |
|
2003 |
12,968,609,125 |
20,897,443,445 |
(-)1,148,075,211 |
Financial Description
Unit: KRW
|
Authorized
Capital |
14,400,000,000 |
|
Paid-Up
Capital |
3,600,000,000 |
|
Total Issues Shares |
720,000 |
Balance
Sheet
|
Unit : Korean Won |
As of 12/31/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Total Assets |
16,981,339,434 |
17,510,791,373 |
17,993,058,088 |
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Current Assets |
1,905,960,541 |
2,430,761,510 |
2,586,296,515 |
|
-Quick Assets |
1,295,753,958 |
1,944,443,893 |
1,797,784,914 |
|
-Inventories |
610,206,583 |
486,317,617 |
788,511,601 |
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Fixed Assets |
15,075,378,893 |
15,080,029,863 |
15,406,761,573 |
|
-Investment |
809,741,466 |
691,801,653 |
931,176,329 |
|
-Tangibles |
14,221,509,177 |
14,344,099,960 |
14,474,085,244 |
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-Others |
44,128,250 |
44,128,250 |
1,500,000 |
|
Total Liabilities |
8,261,437,710 |
8,419,745,796 |
8,486,074,403 |
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Current Liabilities |
7,258,071,772 |
7,417,192,921 |
7,689,632,920 |
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Fixed Liabilities |
1,003,365,938 |
1,002,552,875 |
796,441,483 |
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Capital Stock |
3,600,000,000 |
3,600,000,000 |
3,600,000,000 |
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Capital Surplus |
9,401,804,647 |
9,401,804,647 |
9,401,804,647 |
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Profit Surplus |
(-)4,281,902,923 |
(-)3,910,759,070 |
(-)3,494,820,962 |
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Capital Adjustment |
- |
- |
- |
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Total Equity |
8,719,901,724 |
9,091,045,577 |
9,506,983,685 |
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Liab. &
Shareholder’s Equity |
16,981,339,434 |
17,510,791,373 |
17,993,058,088 |
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Current
Liabilities |
7,258,071,772 |
7,417,192,921 |
7,689,632,920 |
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Trade Payables |
508,135,879 |
439,114,372 |
592,172,572 |
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Short-Term Borrowings |
6,538,635,139 |
6,773,365,868 |
6,812,376,738 |
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Account Payables |
57,639,556 |
74,039,979 |
104,963,822 |
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Withholdings |
28,582,870 |
5,593,553 |
4,589,312 |
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Advance Receipts |
2,581,345 |
2,761,670 |
12,580,600 |
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Accrued Expenses |
1,127,437 |
6,723,140 |
2,497,806 |
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Current Portion of Long-Term
Debts |
87,252,600 |
86,452,800 |
94,209,000 |
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VAT Withhold |
34,116,946 |
29,141,539 |
66,243,070 |
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Fixed
Liabilities |
1,003,365,938 |
1,002,552,875 |
796,441,483 |
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Long-Term Borrowings |
87,252,600 |
201,723,200 |
345,433,000 |
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Long-Term Account Payables |
4,354,577 |
- |
5,428,516 |
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Provision for Severance &
Retirement |
241,900,835 |
234,997,733 |
195,003,860 |
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Leasehold Deposit Received |
722,980,000 |
632,880,000 |
321,880,000 |
Income
Statement
|
Unit : Korean Won |
As of 12/31/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Sales |
3,813,100,544 |
3,627,232,504 |
5,915,770,686 |
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Cost of Sold Goods |
2,871,953,823 |
2,666,023,551 |
5,100,140,900 |
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Gross Profit |
941,146,721 |
961,208,953 |
815,629,786 |
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Selling & Admin. Expenses |
898,498,341 |
1,001,017,983 |
1,547,511,116 |
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Operating Income |
42,648,380 |
-39,809,030 |
731,881,330 |
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Non-Operating Income |
150,889,537 |
140,038,773 |
193,601,006 |
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Non-Operating expenses |
564,681,770 |
516,167,851 |
1,349,236,392 |
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Ordinary Income |
(-) 371,143,853 |
(-) 415,938,108 |
(-) 1,887,516,716 |
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Special Income |
- |
- |
- |
|
Income Before Taxes |
(-) 371,143,853 |
(-) 415,938,108 |
(-) 1,887,516,716 |
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Income Taxes Expenses |
- |
- |
- |
|
Net Income |
(-) 371,143,853 |
(-) 415,938,108 |
(-) 1,887,516,716 |
Cash
Flows
|
Unit : Korean Won |
As of 12/31/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Cash Flows from Operating |
(-)87,539,747 |
89,458,844 |
(-)865,303,357 |
|
-Net Income |
(-)371,143,853 |
(-)415,938,108 |
(-)1,887,516,716 |
|
-Exp. without Cash Outflow |
218,215,175 |
277,715,949 |
1,295,084,417 |
|
-Revenue
without Cash Inflows |
(-)127,707,616 |
(-)83,356,155 |
(-)128,735,425 |
|
-Changes in
Asset/ & Liability |
193,096,547 |
311,037,158 |
(-)144,135,633 |
|
Cash Flows
from Investing |
356,503,855 |
(-)257,391,925 |
179,868,576 |
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-Cash Inflow
from Investing |
596,947,819 |
7,937,237 |
409,701,683 |
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-Cash
Outflows for Investing |
(-)240,443,964 |
(-)265,329,162 |
(-)229,833,107 |
|
Cash Flows from
Financing |
(-)269,851,013 |
148,513,795 |
679,154,354 |
|
-Cash
Inflows from Financing |
101,100,000 |
1,621,000,000 |
1,639,960,000 |
|
-Cash
Outflows from Financing |
(-)370,951,013 |
(-)1,472,486,205 |
(-)960,805,646 |
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Increase/Decrease in Cash |
886,905 |
19,419,286 |
6,280,427 |
|
Cash at the Beginning of Year |
1,585,128 |
21,004,414 |
27,284,841 |
|
Cash at the End of Year |
698,223 |
1,585,128 |
21,004,414 |
The Subject’s Current Liabilities exceeds Current Assets over 5,352,000,000 KRW, and
among Current Liabilities, the loan balance is 6,626,000,000 KRW and the
accumulated losses are 5,117,000,000 KRW. The Subject is trying to recover the
difficulties through M&A, selling the properties and strengthening R&D.
It should be monitored continually.
Products, Technologies, Services
Description
|
Main
Products & Services |
Dyestuff Surfactant |
Trade
Partners
|
Competitors |
OH SUNG CHEMICAL IND. CO., LTD. 76B-11L, NAMDONG INDUSTRIAL COMPLEX,
645-10, GOJAN-DONG, NAMDONG-GU, INCHEON, KOREA TEL
82-32-547-3321 FAX 82-32-547-3327 YOUNGCHANG CHEMICAL CO., LTD. 365-11, YUSEO-RI, SEONNAM-MYEON,
SEONGJU-GUN, GYEONGSANGBUK-DO, KOREA TEL:+82-54-930-2500 FAX:+82-54-931-8521 NICCA KOREA CO., LTD. RM. 612, HAENAM BLDG., 70-5, TAEPYEONGNO
2-GA, JUNG-GU, SEOUL, KOREA TEL:+82-2-779-7727 FAX:+82-2-757-7437 |
Related Parties (Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
DONGKOOK IND CO.,LTD(110111-0028939) DONGYANG STEEL PIPE CO.,
LTD(120111-0002056) KB TECH CO., LTD(120111-0013251) KUK IN INDUSTRIAL CO., LTD(171111-0004515) KBSYNTHETICS. CO., LTD.(170111-0036831) KABUL INTERNATIONAL CO.,
LTD.(110111-0052970) KABUL CONSTRUCTION CO.,
LTD.(174811-0020969) KB INDUSTRY & DEVELOPMENT CO., LTD.( 110111-1167497) YOUNG IL NON-FERROUS METALS CO.,
LTD.(124411-0014077) MODMEN CO., LTD. (131111-0082394) KB REMICON L.L.C KBI JAPAN ACE TECH CO., LTD. KB CAMBODIA PLC KBI CAMBODIA PLC |
|
Subsidiary |
DONGKOOK HIGH TECH CO.,
LTD.(110111-2190570) (94.0% held by the subject company) |
|
Corporate Ownership |
DONGKOOK IND CO.,LTD(110111-0028939) |
|
Major Shareholders |
VALUELINE VENTURE INC.(110111-1754682) DONGKOOK IND CO.,LTD(110111-0028939) |
|
Cooperative Enterprise |
-Technical Support SANDOZ-SWISS -Insured Company MERITZ FIRE & MARINE INSURANCE CO.,
LTD(110111-0013328) SAMSUNG FIRE & MARINE INSURANCE CO.,
LTD(110111-0005078) |
Sales by
Region (Activity &
Markets)
The Subject exports
to Australia, Hong Kong, Japan, Spain, USA and Europe.
Court
Action
|
Case No. |
Court |
Plaintiff(s)/
Creditor(s)/ Applicant(s) |
Defendant(s)/
Debtor(s)/ Respondent(s) |
Cause |
Amount (Million KRW) |
Status |
|
|
Suwon District Court |
PHILIA TELECOM CO., LTD(135111-0048334) |
The Subject Company |
Claim for Damages from the fire |
391,402,334 |
1st Round Proceeding |
News
Clipping
--
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.79 |
|
UK Pound |
1 |
Rs.73.37 |
|
Euro |
1 |
Rs.63.08 |
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)