MIRA
INFORM REPORT
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Report Date : |
30.08.2011 |
IDENTIFICATION DETAILS
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Name : |
MEGAFLEXON CO., LTD. |
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Formerly Known As : |
DONG YANG RUBBER INDUSTRY CO.,
LTD. |
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Registered Office : |
92-48, Pungmu-dong, Gimpo-si, Gyeonggi-do, Korea- 415-070 |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
15.12.1995 |
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Com. Reg. No.: |
110111-1222770 |
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Legal Form : |
Co., Ltd by shares |
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Line of Business : |
Manufacture of Taps, Valves and Similar Products |
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 : |
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
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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 |
MEGAFLEXON CO., LTD. (Korean Company Name : “메가플랙슨공업(주)”) |
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Registered Address |
92-48, Pungmu-dong, Gimpo-si, |
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Zip Code |
415-070 |
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Tel |
+82-31-981-2381~3 |
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Fax |
+82-31-981-2384 |
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E-mail |
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Website |
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Trading Address |
92-48, Pungmu-dong, Gimpo-si, |
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Tel |
+82-31-981-2381~3 |
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Fax |
+82-31-981-2384 |
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Type |
Export/Import |
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Industry |
Manufacture of Taps, Valves and Similar Products |
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Main Business |
Rubber Expansion Joint, Metal Expansion Joint, Flexible
Joint & Tube, Rubber Expansion Joint |
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Established (mm/dd/yyyy) |
12/15/1995 |
The Subject owns the premises of
registered HQ address.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Pipe expansion joints(40142312) |
CEO’s
|
Name |
Jang Kyung-Dug |
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Address |
92-48, Pungmu-dong, Gimpo-si, |
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Date of Birth |
01/11/1961 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
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Capital (KRW) |
400,000,000 |
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Employees |
25 |
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Formation |
Co., Ltd by shares |
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Bank Details |
Industrial Bank of Korea-Gimpo
Branch Shinhan Bank |
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Corporate Registered No. |
110111-1222770 |
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Business Registered No. |
101-81-39656 |
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Permit & Licenses |
03/08/1999 ISO 9001 by TUV 2002 CE Mark Int’l Trade No.: 11475114 |
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Shareholder Position |
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Company History |
12/15/1995 Incorporated as DONG
YANG RUBBER INDUSTRY CO., LTD. 08/1999 Changed company name to
the present name 11/30/1999 Awarded US$1 Million
Export Top Prize 12/15/2004 Moved to the present
HQ address from 196-2, Bullo-dong, Seo-gu, 01/2006 Designated as a Venture
Business 11/2006 Awarded US$3 Million Export
Top Prize 09/2007 Designated as an INNO-BIZ
Company 09/2009 Designated as a Promising SME |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
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President & CEO |
Mr. |
Jang Kyung-Dug |
Male |
Korean |
08/18/2002 |
|
Director |
Mr. |
Jang Yong-Bok |
Male |
Korean |
02/09/2007 |
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Director |
M/S. |
Ha Yeon-Sook |
Female |
Korean |
10/15/2009 |
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Auditor |
Mr. |
Kim Ki-Joo |
Male |
Korean |
10/15/2009 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
6,313,786,323 |
12,273,918,936 |
3,633,371,466 |
|
|
2009 |
10,595,510,653 |
15,197,047,991 |
1,708,251,592 |
|
2008 |
14,601,416,876 |
10,780,112,321 |
1,397,802,561 |
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2007 |
9,458,000,000 |
5,637,000,000 |
712,000,000 |
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2006 |
3,855,000,000 |
3,571,000,000 |
93,000,000 |
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2005 |
4,009,000,000 |
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2004 |
2,387,000,000 |
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Financial Description
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Authorized Capital(KRW) |
800,000,000 |
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Paid-Up Capital(KRW) |
400,000,000 |
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Total Issues Shares |
80,000 |
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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 |
12,273,918,936 |
15,197,047,991 |
10,780,112,321 |
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Current Assets |
7,328,607,126 |
7,497,875,155 |
9,324,744,090 |
|
-Quick Assets |
7,307,892,735 |
7,477,647,997 |
9,300,171,235 |
|
-Inventories |
20,714,391 |
20,227,158 |
24,572,855 |
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Fixed Assets |
4,945,311,810 |
7,699,172,836 |
1,455,368,231 |
|
-Investment |
2,342,756,745 |
5,034,071,147 |
156,400,000 |
|
-Tangibles |
2,556,525,365 |
2,620,929,965 |
1,184,611,503 |
|
-Intangibles |
16,969,700 |
251,724 |
1,258,728 |
|
-Others |
29,060,000 |
43,920,000 |
113,098,000 |
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Total Liabilities |
4,120,321,135 |
10,519,099,897 |
7,810,415,819 |
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Current Liabilities |
3,970,321,135 |
10,519,099,897 |
7,484,048,949 |
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Fixed Liabilities |
150,000,000 |
- |
326,366,870 |
|
Capital Stock |
400,000,000 |
400,000,000 |
400,000,000 |
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Capital Surplus |
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Profit Surplus |
7,911,319,560 |
4,277,948,094 |
2,569,696,502 |
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Capital Adjustment |
-157,721,759 |
- |
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Total Equity |
8,153,597,801 |
4,677,948,094 |
2,969,696,502 |
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Liab. & Shareholder’s
Equity |
12,273,918,936 |
15,197,047,991 |
10,780,112,321 |
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Current Liabilities |
3,970,321,135 |
10,519,099,897 |
7,484,048,949 |
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Trade Payables |
1,138,379,367 |
4,421,747,171 |
4,184,207,219 |
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Account Payables |
1,237,487,690 |
3,721,159,477 |
1,862,021,983 |
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Withholdings |
9,052,310 |
384,361,230 |
1,347,700 |
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Advance Receipts |
426,670,655 |
868,733,764 |
1,012,693,666 |
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Short-Term Borrowings |
782,560,618 |
395,000,795 |
198,761,561 |
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Accrued Income Tax |
226,170,495 |
594,777,460 |
225,016,820 |
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Current Portion of Long-Term Debts |
150,000,000 |
133,320,000 |
- |
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Fixed Liabilities |
150,000,000 |
- |
326,366,870 |
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Long-Term Borrowings |
150,000,000 |
- |
266,640,000 |
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Provision for Severance & Retirement |
- |
- |
59,726,870 |
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Income Statement |
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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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Sales |
6,313,786,323 |
10,595,510,653 |
14,601,416,876 |
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Cost of Sold Goods |
3,028,847,719 |
6,799,459,072 |
11,067,163,182 |
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Gross Profit |
3,284,938,604 |
3,796,051,581 |
3,534,253,694 |
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Selling & Admin. Expenses |
1,151,763,373 |
1,151,430,959 |
1,633,192,714 |
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Operating Income |
2,133,175,231 |
2,644,620,622 |
1,901,060,980 |
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Non-Operating Income |
2,907,473,351 |
791,180,091 |
674,266,147 |
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Non-Operating Expenses |
888,143,491 |
821,890,855 |
872,524,566 |
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Income Before Taxes |
4,152,505,091 |
2,613,909,858 |
1,702,802,561 |
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Income Taxes Expenses |
519,133,625 |
905,658,266 |
305,000,000 |
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Net Income |
3,633,371,466 |
1,708,251,592 |
1,397,802,561 |
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Cash Flows |
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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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Cash Flows from Operating |
-775,652,987 |
6,645,006,933 |
1,630,884,851 |
|
-Net Income |
3,633,371,466 |
1,708,251,592 |
1,397,802,561 |
|
-Exp. without Cash Outflow |
509,280,581 |
644,136,222 |
112,863,196 |
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-Revenue without Cash Inflows |
-2,270,460,446 |
-214,534,751 |
- |
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-Changes in Asset/ &
Liability |
-2,647,844,588 |
4,507,153,870 |
120,219,094 |
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Cash Flows from Investing |
-494,153,764 |
-6,328,329,278 |
-789,691,844 |
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-Cash Inflow from Investing |
4,526,060,686 |
5,128,128,000 |
3,434,397,854 |
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-Cash Outflows for Investing |
-5,020,214,450 |
-11,456,457,278 |
-4,224,089,698 |
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Cash Flows from Financing |
554,239,823 |
62,919,234 |
-1,032,229,635 |
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-Cash Inflows from Financing |
837,559,823 |
470,000,795 |
- |
|
-Cash Outflows from Financing |
-283,320,000 |
-407,081,561 |
-1,032,229,635 |
|
Increase/Decrease in Cash |
-715,566,928 |
379,596,889 |
-191,036,628 |
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Cash at the Beginning of Year |
802,154,429 |
422,557,540 |
613,594,168 |
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Cash at the End of Year |
86,587,501 |
802,154,429 |
422,557,540 |
Products, Technologies, Services Description
|
Main Products & Services |
Metalic Expansion Joint -Axial Type Expansion Joint -Lateral Type Expansion Joint -Hinge Type Expansion Joint -Gimbal Type Expansion Joint -Pressure Balanced Type
Expansion Joint -Rectangular Expansion Joint -Flange & Flued Type
Expansion Joint Rubber Expansion Joint -Soopl Type Expansion Joint -Molded Type Expansion Joint -Integral Steel Flange Type
Expansion Joint Fabric Expansion Joint Flexible Products -Metal Flexible Hose |
Trade Partners & Competitors
|
Competitors |
WONIL INDUSTRIAL CO., LTD. 595-1, SONGCHEON-RI,
SUDONG-MYEON, NAMYANGJU-SI, TEL:+82-31-594-8033 FAX:+82-31-594-8034 KWANG WON I & D CO., LTD. 45, SACHANG-RI, YANGGAM-MYEON,
HWASEONG-SI, TEL:+82-31-353-3245 FAX:+82-31-353-4146 DONG YANG CO., LTD. 858-1, EOGOK-DONG, YANGSAN-SI, TEL:+82-55-367-2311 FAX:+82-55-367-2316 |
Sales by Region (Activity &
Markets)
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Sales/ Unit : KRW |
2010 |
2009 |
2008 |
|
Export |
3,903,509,813 |
8,265,331,204 |
13,327,432,467 |
|
Domestic |
2,350,863,710 |
2,270,693,249 |
1,210,345,409 |
|
Others |
59,412,800 |
59,486,200 |
63,639,000 |
|
Total |
6,313,786,323 |
10,595,510,653 |
14,601,416,876 |
The Subject deals with the
companies in
Court Action
No.
News Clipping
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.87 |
|
|
1 |
Rs.75.14 |
|
Euro |
1 |
Rs.66.67 |
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.