MIRA
INFORM REPORT
|
Report Date : |
30.08.2011 |
IDENTIFICATION DETAILS
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Name : |
DOLPHIN CO., LTD. |
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Registered Office : |
167-3, Dodang-dong, Wonmi-gu,
Bucheon-si, Gyeonggi-do, Korea 420-805 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2008 |
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Date of Incorporation : |
18.12.1998 |
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Com. Reg. No.: |
130-81-58078 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Manufacture of Other General- Purpose Machinery |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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) |
|
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 |
DOLPHIN CO., LTD. (Korean Company Name : “(주)돌핀”) |
|
Registered Address |
167-3, Dodang-dong, Wonmi-gu, Bucheon-si,
Gyeonggi-do, Korea |
|
Zip Code |
420-805 |
|
Tel |
+82-32-612-3456 |
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Fax |
+82-32-612-3820 |
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E-mail |
dolphin@dolphin.co.kr |
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Website |
www.dolphin.co.kr |
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Trading Address |
167-3, Dodang-dong, Wonmi-gu, Bucheon-si,
Gyeonggi-do, Korea |
|
Tel |
+82-32-612-3456 |
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Fax |
+82-32-612-3820 |
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Type |
Export |
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Industry |
Manufacture of Other General- Purpose Machinery n.e.c. |
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Main Business |
Commercial Dish Washer |
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Established (mm/dd/yyyy) |
12/18/1998 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Commercial use dishwashers(48101615) |
|
Sell |
Separation machinery and equipment(23152100) |
|
Sell |
Dishwashing products(47131810) |
|
Buy |
Solenoids(31251510) |
|
Buy |
Power supply transformers(39121002) |
|
Buy |
Resistors(32121600) |
|
Buy |
Heating equipment and parts and
accessories(40101800) |
|
Buy |
Motors(26101600) |
|
Buy |
Indicating and recording
instruments(41111900) |
|
Buy |
Inductors(32121702) |
|
Buy |
Coil(30101900) |
|
Buy |
Diodes(32111500) |
|
Buy |
Circuit protection devices and
accessories(39121600) |
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Buy |
Base Metals(11101700) |
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Buy |
Hoses(40142000) |
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Buy |
Integrated circuits(32101600) |
CEO’s
|
Name |
Kim Young-Suk |
|
Address |
Suite 1611-1801, 415, Sang-dong,
Wonmi-gu, Bucheon-si, Gyeonggi-do, Korea |
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Date of Birth |
07/12/1959 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
|
Capital (KRW) |
1,500,000,000 |
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Employees |
43 |
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Formation |
Co., Ltd by Shares |
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Bank Details |
Woori Bank Kookmin Bank-Bucheon Nae Dong Branch |
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Corporate Registered No. |
121111-0064295 |
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Business Registered No. |
130-81-58078 |
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Permit & Licenses |
07/1996 GD Mark 11/2006 ISO 9001 Int’l Trade No.: 11478991 |
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Shareholder Position |
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Company History |
09/01/1991 Established as Dolphin Co.(Sole
Proprietorship) 12/18/1998 Incorporated as the present name 09/12/2002 Increased the authorized shares
to 1,000,000 shares from 200,000 shares 09/17/2002 Increased capital to
1,500,000,000 KRW from 1,000,000,000 KRW 11/01/2003 Moved to the present HQ address
from 202-5, Chunui-dong, Wonmi-gu, Bucheon-si, Gyeonggi-do,
Korea 06/03/2006 Designated as a Venture Business 12/2006 Designated as an INNO-BIZ Company |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Kim Young-Suk |
Male |
Korean |
01/25/2010 |
|
Director |
Mr. |
Kim Jong-Hum |
Male |
Korean |
12/18/2001 |
|
Director |
M/S. |
Kim Hee-Joon |
Female |
Korean |
12/18/2010 |
|
Auditor |
Mr. |
Kim Myung-Sik |
Male |
Korean |
01/25/2010 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
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|
|
|
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|
2009 |
9,099,000,000 |
8,893,000,000 |
-18,000,000 |
|
2008 |
10,658,354,565 |
9,569,660,968 |
651,182,626 |
|
2007 |
14,228,283,397 |
11,014,348,130 |
1,396,037,240 |
The latest
financials are not available, and the Subject Company does not have any
obligations to release its financials to the public.
Financial Description
|
Authorized Capital(KRW) |
5,000,000,000 |
|
Paid-Up Capital(KRW) |
1,500,000,000 |
|
Total Issues Shares |
300,000 |
Balance
Sheet
|
Unit : Korean Won |
As of 12/31/2008 |
As of 12/31/2007 |
As of 12/31/2006 |
|
Total Assets |
9,569,660,968 |
11,014,348,130 |
|
|
Current Assets |
1,808,478,166 |
2,930,928,318 |
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-Quick Assets |
603,704,777 |
2,091,968,359 |
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-Inventories |
1,204,773,389 |
838,959,959 |
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Fixed Assets |
7,761,182,802 |
8,083,419,812 |
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-Investment |
1,465,000 |
1,465,000 |
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-Tangibles |
7,594,867,409 |
7,851,277,218 |
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-Intangibles |
162,866,393 |
228,693,594 |
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-Others |
1,984,000 |
1,984,000 |
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Total Liabilities |
4,306,888,744 |
5,377,409,364 |
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Current Liabilities |
3,278,105,277 |
2,869,638,660 |
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Fixed Liabilities |
1,028,783,467 |
2,507,770,704 |
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Capital Stock |
1,500,000,000 |
1,500,000,000 |
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Capital Surplus |
- |
- |
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Profit Surplus |
3,762,772,224 |
4,111,589,598 |
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Capital Adjustment |
- |
25,349,168 |
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Total Equity |
5,262,772,224 |
5,636,938,766 |
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Liab. & Shareholder’s Equity |
9,569,660,968 |
11,014,348,130 |
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Current Liabilities |
3,278,105,277 |
2,869,638,660 |
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Trade Payables |
364,537,873 |
440,266,703 |
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Account Payables |
168,056,965 |
163,029,968 |
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Withholdings |
14,971,160 |
67,086,540 |
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Advance Receipts |
74,500 |
18,010,625 |
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Short-Term Borrowings |
2,446,051,618 |
1,743,421,520 |
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Accrued Income Tax |
11,763,843 |
193,843,920 |
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Accrued Expenses |
15,707,958 |
28,502,824 |
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Current Portion of Long-Term Debts |
256,941,360 |
215,476,560 |
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Fixed Liabilities |
1,028,783,467 |
2,507,770,704 |
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Long-Term Borrowings |
200,941,320 |
1,633,985,280 |
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Leasehold Deposit Received |
60,000,000 |
60,000,000 |
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Provision for Severance & Retirement |
772,367,747 |
810,712,524 |
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Sales Deposit Received |
2,000,000 |
10,000,000 |
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Income
Statement
|
Unit : Korean Won |
As of 12/31/2008 |
As of 12/31/2007 |
As of 12/31/2006 |
|
Sales |
10,658,354,565 |
14,228,283,397 |
|
|
Cost of Sold Goods |
8,248,084,911 |
10,843,340,611 |
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Gross Profit |
2,410,269,654 |
3,384,942,786 |
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Selling & Admin. Expenses |
1,219,202,749 |
1,478,700,151 |
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Operating Income |
1,191,066,905 |
1,906,242,635 |
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Non-Operating Income |
123,766,631 |
79,219,183 |
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Non-Operating Expenses |
515,723,867 |
288,134,858 |
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Income Before Taxes |
799,109,669 |
1,697,326,960 |
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Income Taxes Expenses |
147,927,043 |
301,289,720 |
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Net Income |
651,182,626 |
1,396,037,240 |
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Cash
Flows
|
Unit :
Korean Won |
As of 12/31/2008 |
As of 12/31/2007 |
As of 12/31/2006 |
|
Cash Flows
from Operating |
519,995,701 |
1,605,900,831 |
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-Net Income |
651,182,626 |
1,396,037,240 |
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|
-Exp.
without Cash Outflow |
728,271,625 |
521,613,627 |
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-Revenue
without Cash Inflows |
- |
-382,473 |
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-Changes in
Asset/ & Liability |
-859,458,550 |
-311,367,563 |
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Cash Flows
from Investing |
963,746,317 |
-1,194,207,493 |
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-Cash Inflow
from Investing |
1,000,000,000 |
1,089,428,159 |
|
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-Cash
Outflows for Investing |
-36,253,683 |
-2,283,635,652 |
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Cash Flows
from Financing |
-1,985,531,462 |
100,647,345 |
|
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-Cash
Inflows from Financing |
6,874,879,739 |
10,003,064,409 |
|
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-Cash
Outflows from Financing |
-8,860,411,201 |
-9,902,417,064 |
|
|
Increase/Decrease
in Cash |
-501,789,444 |
512,340,683 |
|
|
Cash at the
Beginning of Year |
619,113,319 |
106,772,636 |
|
|
Cash at the
End of Year |
117,323,875 |
619,113,319 |
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Products, Technologies, Services Description
|
Main Products & Services |
Commercial Dish Washer |
Trade Partners & Competitors
|
Competitors |
PASECO CO., LTD. 724-1, WONSI-DONG, DANWON-GU, ANSAN-SI,
GYEONGGI-DO, KOREA TEL:+82-31-492-8341~3 FAX:+82-31-491-9761 CARRIER LTD. 981-11, JANGDEOK-DONG, GWANGSAN-GU, GWANGJU
, KOREA TEL:+82-62-958-0123 FAX:+82-62-951-9870 CUCKOO ELECTRONICS CO., LTD. 91, GYO-DONG, YANGSAN-SI, GYEONGSANGNAM-DO,
KOREA TEL:+82-55-380-0700~7 FAX:+82-55-389-0709 |
Related Parties
(Subsidiaries,
Joint-Venture & Affiliates)
|
Cooperative Enterprise |
-Insured Company FIRST FIRE & MARINE INSURANCE CO., LTD.(110111-0017586) |
Sales by Region
(Activity &
Markets)
The Subject exports
to Canada, Taiwan, India, Japan, Jordan, Malaysia, Vietnam and Thailand.
Court Action
Not Available.
News Clipping
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.87 |
|
|
1 |
Rs.75.14 |
|
Euro |
1 |
Rs.66.68 |
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 |
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 |
|
-- |
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.