MIRA
INFORM REPORT
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Report Date : |
26.08.2011 |
IDENTIFICATION DETAILS
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Name : |
DAE HE CHEMICAL CO., LTD. |
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Registered Office : |
1Ra-301, Sihwa Industrial Complex 1247, Jeongwang 3-dong, Siheung-si,
Gyeonggi-do, Korea 429-914 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
17.03.1987 |
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Com. Reg. No.: |
135-81-01508 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Manufacture of Medicinal Chemicals and Antibiotics |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 : |
Usually Correct |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made on
e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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South Korea |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Basic information
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Company
Name |
DAE HE CHEMICAL CO., LTD. (Korean Company Name : “(주)대희화학”) |
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Registered Address |
1247, Jeongwang 3-dong, Siheung-si,
Gyeonggi-do, Korea |
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Building |
1Ra-301, Sihwa Industrial Complex |
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Zip Code |
429-914 |
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Tel |
+82-31-432-5353 |
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Fax |
+82-31-498-6350 |
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E-mail |
daehe@hanmail.com |
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Website |
www.daehe.co.kr |
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Trading Address |
1Ra-301, Sihwa Industrial Complex, 1247,
Jeongwang 3-dong, Siheung-si, Gyeonggi-do, Korea |
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Tel |
+82-31-432-5353 |
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Fax |
+82-31-498-6350 |
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Other Address-Branch |
687-3, Cheon-ri,
Idong-myeon, Cheoin-gu, Yongin-si, Gyeonggi-do, Korea |
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Type |
Export/Import |
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Industry |
Manufacture of Medicinal Chemicals and Antibiotics |
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Main Business |
Clonixin Lysinate, Sobrerol, Rebamipide |
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Established (mm/dd/yyyy) |
03/17/1987 |
The Subject owns
the premises of registered HQ address.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Chemistry reagents or solutions(41116105) |
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Sell |
Alendronate sodium(51182406) |
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Sell |
Ebastine(51161612) |
CEO’s
|
Name |
Min Nam-Sook |
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Address |
Suite 81-602, 456, Apgujeong-dong,
Gangnam-gu, Seoul, Korea |
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Date of Birth |
11/04/1967 |
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Title |
President & CEO |
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Sex |
Female |
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Nationality |
Korean |
Profiles
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Capital (KRW) |
3,000,000,000 |
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Employees |
45 |
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Formation |
Co., Ltd by Shares |
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Bank Details |
Industrial Bank of Korea-Shihwa Industrial
Complex |
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Corporate Registered No. |
134511-0005767 |
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Business Registered No. |
135-81-01508 |
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Permit & Licenses |
07/2001 ISO 9001 Int’l Trade No.: 221085 |
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Shareholder Position |
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Company History |
06/14/1976 Established as DAE HE CHEMICAL
CO.(Sole Proprietorship) 03/17/1987 Incorporated as the present name 07/2002 Designated as an INNO-BIZ Company 08/2004 Designated as a Promising SME 05/16/2006 increased the authorized shares
to 5,000,000 shares from 160,000 shares 12/18/2006 Increased capital to
3,000,000,000 KRW from 1,500,000,000 KRW |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
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President & CEO |
M/S. |
Min Nam-Sook |
Female |
Korean |
03/31/2003 |
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Director |
Mr. |
Min Yeon-Shik |
Male |
Korean |
03/29/2002 |
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Director |
Mr. |
Na Haeng-Ja |
Male |
Korean |
03/29/2002 |
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Auditor |
M/S. |
Na Kyung-Sook |
Female |
Korean |
03/31/2005 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
15,158,488,096 |
10,527,070,738 |
1,484,482,222 |
|
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2009 |
15,540,882,146 |
10,213,019,296 |
2,635,303,229 |
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2008 |
13,414,713,000 |
8,403,445,000 |
1,600,452,000 |
Financial Description
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Authorized Capital(KRW) |
50,000,000,000 |
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Paid-Up Capital(KRW) |
3,000,000,000 |
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Total Issues Shares |
300,000 |
Balance
Sheet
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Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
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Total Assets |
10,527,070,738 |
10,213,019,296 |
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Current Assets |
6,813,380,548 |
7,187,845,706 |
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-Quick Assets |
3,984,026,550 |
4,531,475,957 |
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-Inventories |
2,829,353,998 |
2,656,369,749 |
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Fixed Assets |
3,713,690,190 |
3,025,173,590 |
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-Investment |
3,713,690,190 |
3,019,173,590 |
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-Tangibles |
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-Intangibles |
- |
6,000,000 |
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Total Liabilities |
4,642,133,427 |
3,832,564,207 |
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Current Liabilities |
2,897,552,266 |
2,083,417,507 |
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Fixed Liabilities |
1,744,581,161 |
1,749,146,700 |
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Capital Stock |
3,000,000,000 |
3,000,000,000 |
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Capital Surplus |
- |
- |
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Profit Surplus |
2,730,976,352 |
3,226,494,130 |
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Capital Adjustment |
153,960,959 |
153,960,959 |
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Total Equity |
5,884,937,311 |
6,380,455,089 |
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Liab. & Shareholder’s Equity |
10,527,070,738 |
10,213,019,296 |
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Current Liabilities |
2,897,552,266 |
2,083,417,507 |
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Trade Payables |
623,064,574 |
322,687,101 |
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Account Payables |
979,923,786 |
872,531,655 |
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Accrued Expenses |
3,428,669 |
2,058,032 |
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Withholdings |
45,133,200 |
36,570,300 |
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Advance Receipts |
10,729,468 |
17,599,330 |
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Short-Term Borrowings |
1,217,556,760 |
371,625,995 |
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Accrued Income Tax |
17,715,809 |
160,345,094 |
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Current Portion of Long-Term Debts |
- |
300,000,000 |
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Fixed Liabilities |
1,744,581,161 |
1,749,146,700 |
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Long-Term Borrowings |
300,000,000 |
300,000,000 |
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Provision for Severance & Retirement |
1,496,757,102 |
1,499,474,262 |
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Income
Statement
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
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Sales |
15,158,488,096 |
15,540,882,146 |
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Cost of Sold Goods |
11,959,296,979 |
10,949,608,612 |
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Gross Profit |
3,199,191,117 |
4,591,273,534 |
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Selling & Admin. Expenses |
1,671,922,740 |
1,636,162,586 |
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Operating Income |
1,527,268,377 |
2,955,110,948 |
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Non-Operating Income |
126,208,590 |
109,184,189 |
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Non-Operating Expenses |
154,524,725 |
193,846,642 |
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Income Before Taxes |
1,498,952,242 |
2,870,448,495 |
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Income Taxes Expenses |
14,470,020 |
235,145,266 |
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Net Income |
1,484,482,222 |
2,635,303,229 |
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Cash
Flows
|
Unit :
Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
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Cash Flows
from Operating |
1,633,779,231 |
1,212,129,533 |
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-Net Income |
1,484,482,222 |
2,635,303,229 |
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-Exp.
without Cash Outflow |
788,506,522 |
1,133,572,799 |
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-Revenue
without Cash Inflows |
-5,792,499 |
-1,766,446 |
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-Changes in
Asset/ & Liability |
-633,417,014 |
-2,554,980,049 |
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Cash Flows
from Investing |
-1,103,112,563 |
-342,013,806 |
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-Cash Inflow
from Investing |
246,958,566 |
108,771,474 |
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-Cash
Outflows for Investing |
-1,350,071,129 |
-450,785,280 |
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Cash Flows
from Financing |
-738,956,963 |
-673,094,276 |
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-Cash
Inflows from Financing |
1,217,556,760 |
1,341,420,084 |
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-Cash
Outflows from Financing |
-1,956,513,723 |
-2,014,514,360 |
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Increase/Decrease
in Cash |
-208,290,295 |
197,021,451 |
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Cash at the
Beginning of Year |
228,975,893 |
31,954,442 |
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Cash at the
End of Year |
20,685,598 |
228,975,893 |
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Products, Technologies, Services Description
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Main Products & Services |
Clonixin Lysinate, Sobrerol, Rebamipide |
Trade Partners & Competitors
|
Customers |
MYUNG MOON
PHARM. CO., LTD.(134111-0013180) |
|
Competitors |
DONGWOO SYNTECH CO., LTD. 152-1, BONDAE-RI, GEUMWANG-EUP,
EUMSEONG-GUN, CHUNGCHEONGBUK-DO, KOREA TEL:+82-43-882-7280 FAX:+82-43-882-7283 |
Related Parties
(Subsidiaries,
Joint-Venture & Affiliates)
|
Cooperative Enterprise |
-Insured Company MERITZ FIRE & MARINE INSURANCE CO., LTD.(110111-0013328) |
Sales by Region
(Activity &
Markets)
The Subject deals
with the companies in Europe, South America, and South East Asia.
Court Action
No.
News Clipping
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.13 |
|
|
1 |
Rs.75.52 |
|
Euro |
1 |
Rs.66.53 |
RATING EXPLANATIONS
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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 |
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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.