MIRA INFORM REPORT

 

 

Report Date :

18.01.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

DONGHA STONE CO., LTD.

 

 

Registered Office :

14-1, Naesan-ri, Daeso-myeon, Eumseong-gun, Chungcheongbuk-do, Korea

369-821

 

 

Country :

South Korea

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

25.09.1984

 

 

Com. Reg. No.:

203-81-42379

 

 

Legal Form :

Co., Ltd by Shares

 

 

Line of Business :

Manufacture of Stone, Construction Materials

 

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

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

South Korea

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Basic

 

Company Name

DONGHA STONE CO., LTD.

(Korean Company Name : “(주)동아석재”)

Registered Address

14-1, Naesan-ri, Daeso-myeon, Eumseong-gun, Chungcheongbuk-do, Korea

Zip Code

369-821

Tel

+82-43-877-7850

Fax

+82-43-877-7851

E-mail

njk902@chol.com

Website

www.dongahstone.co.kr

Trading Address

Rm. 209, Seongsu-dong Woolim e-Biz Center, 280-21, 3-dong, Seongsu-dong 2-ga, Seongdong-gu, Seoul, Korea

Tel

+82-2-2024-2600

Fax

+82-2-2024-2605

Other Address-Branch

Rm.209, 280-21, Seongsu-dong 2-ga, Seongdong-gu, Seoul, Korea

Type

Export/Import

Industry

Manufacture of Stone, Construction Materials,

  Main Business

Stone, Construction Materials, Brick Laying and Stone Setting Works

Established (mm/dd/yyyy)

09/25/1984

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Stone(11111600)

Sell

Masonry and stonework and tile setting(72102500)

 

 

CEO’s

 

Name

Nam Seong-Hui

Address

111-37, Nonhyeon-dong, Gangnam-gu, Seoul, Korea

Date of Birth

01/05/1941

Title

President & CEO

Sex

Male

Nationality

Korean

 

Profiles

 

Capital (KRW)

200,000,000

Employees

15

Formation

Co., Ltd by Shares

Bank Details

Woori Bank-Jangchung Dong Branch

Corporate Registered No.

110111-0382096

Business Registered No.

203-81-42379

Permit & Licenses

11/11/1997 ISO 9001

 

Int’l Trade No.: 45125685

Shareholder Position

Name

Shares

%

NAM SEONG-HUI

22,000

55.00

NAM YONG-HEE

4,000

10.00

PARK KIL-SOON

4,000

10.00

LEE JAE-EUN

2 600

6.50

NAM TAE-HEE

2,400

6.00

SHIN KWANG-JAE

2,000

5.00

NAM KI-HWAN

2,000

5.00

LEE YOUNG-OK

1,000

2.50

TOTAL

40,000

100.00

Company History

12/18/1982 Established as DONGHA STONE INDUSTRY CO.(Sole Proprietorship)

09/25/1984 Incorporated as the present name

07/26/2006 Moved to the present HQ address from 1361-12, Gwanseol-dong, Wonju-si, Gangwon-do, Korea

 

 

 

The premises(198.0m2) at 531-7, Hupyeong-ri, Haseong-myeon, Gimpo-si, Gyeonggi-do, Korea have been owned by Mr. Park Soo-Kwang(DOB : 01/29/1959) since 05/28/2010. It has been pledged as a collateral amounting 260,000,000 KRW under Namdong Industrial Complex Branch of Korea Exchange Bank(110111-0672538, address : 181, Euljiro 2-ga, Jung-gu, Seoul, Korea)

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

Mr.

Nam Seong-Hui

Male

Korean

09/25/1999

Director

Mr.

Nam Jae-Kwang

Male

Korean

03/22/2006

Auditor

M/S.

Choi Mi-Young

Female

Korean

03/22/2006

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2009

10,372,636,226

10,144,337,512

173,859,267

2008

9,241,748,546

10,593,362,686

224,520,439

2007

17,017,885,795

9,626,883,228

515,020,217

2006

10,610,681,902

 11,313,781,050

5,266,241,969

 

 

Financial Description

 

Authorized Capital(KRW)

200,000,000

Paid-Up Capital(KRW)

200,000,000

Total Issues Shares

40,000

 

Balance Sheet

 

Unit : Korean Won

As of 12/31/2009

As of 12/31/2008

As of 12/31/2007

Total Assets

10,144,337,512

10,593,362,686

9,626,883,228

Current Assets

7,223,609,326

7,826,261,520

7,048,419,193

-Quick Assets

7,058,840,109

7,675,451,151

6,961,382,450

-Inventories

164,769,217

150,810,369

87,036,743

Fixed Assets

2,920,728,186

2,767,101,166

2,578,464,035

-Investment

513,145,502

317,645,502

303,452,274

-Tangibles

2,355,670,404

2,397,543,384

2,273,296,481

-Intangibles

51,912,280

51,912,280

1,715,280

Total Liabilities

798,119,003

1,421,003,444

679,432,653

Current Liabilities

688,119,003

1,271,003,444

609,432,653

Fixed Liabilities

110,000,000

150,000,000

70,000,000

Capital Stock

200,000,000

200,000,000

200,000,000

Capital Surplus

-

-

-

Profit Surplus

9,112,680,380

8,938,821,113

8,714,300,674

Capital Adjustment

33,538,129

33,538,129

33,149,901

Total Equity

9,346,218,509

9,172,359,242

8,947,450,575

Liab. & Shareholder’s Equity

10,144,337,512

10,593,362,686

9,626,883,228

 

Current Liabilities

688,119,003

1,271,003,444

609,432,653

Trade Payables

137,374,568

466,661,973

55,692,515

Account Payables

488,758,245

621,624,980

494,228,838

Advance Receipts

-

123,008,221

-

Withholdings

35,009,420

56,980,920

21,498,130

Accrued Income Tax

26,976,770

2,727,350

38,013,170

Fixed Liabilities

110,000,000

150,000,000

70,000,000

Leasehold Deposit Received

110,000,000

150,000,000

70,000,000

 

 

Income Statement

 

Unit : Korean Won

As of 12/31/2009

As of 12/31/2008

As of 12/31/2007

Sales

10,372,636,226

9,241,748,546

17,017,885,795

Cost of Sold Goods

9,486,047,361

8,275,869,704

15,697,996,072

Gross Profit

886,588,865

965,878,842

1,319,889,723

Selling & Admin. Expenses

1,072,672,099

1,087,716,295

1,128,780,685

Operating Income

-186,083,234

-121,837,453

191,109,038

Non-Operating Income

451,760,698

386,877,075

438,373,118

Non-Operating Expenses

35,115,837

10,518,323

2,519,969

Ordinary Income

230,561,627

254,521,299

626,962,187

Special Income

-

-

-

Income Before Taxes

230,561,627

254,521,299

626,962,187

Income Taxes Expenses

56,702,360

30,000,860

111,941,970

Net Income

173,859,267

224,520,439

515,020,217

 

Cash Flows

 

Unit : Korean Won

As of 12/31/2009

As of 12/31/2008

As of 12/31/2007

Cash Flows from Operating

260,368,761

-162,176,693

-1,338,031,566

-Net Income

173,859,267

224,520,439

515,020,217

-Exp. without Cash Outflow

79,924,850

71,609,670

64,727,893

-Sale without Cash Inflows

-248,012,268

-38,423,612

-9,230,958

-Changes in Asset/ & Liability

254,596,912

-419,883,190

-1,908,548,718

Cash Flows from Investing

187,109,326

-302,729,858

1,648,140,997

-Cash Inflow from Investing

2,337,823,676

3,488,315,622

2,173,763,273

-Cash Outflows for Investing

-2,150,714,350

-3,791,045,480

-525,622,276

Cash Flows from Financing

-

-

-

-Cash Inflows from Financing

-

-

-

-Cash Outflows from Financing

-

-

-

Increase/Decrease in Cash

447,478,087

-464,906,551

310,109,431

Cash at the Beginning of Year

264,319,181

729,225,732

419,116,301

Cash at the End of Year

711,797,268

264,319,181

729,225,732

 

 

Products, Technologies, Services Description

 

Main Products & Services

Stone, Construction Materials, Brick Laying and Stone Setting Works

 

 

Trade Partners & Competitors

 

Competitors

ILSHIN STONE CO., LTD.

6TH FL., SEOGYEONG BLDG., 539-3, SEONGNAE 1-DONG, GANGDONG-GU, SEOUL, KOREA

TEL:+82-2-487-9009 FAX:+82-2-477-5278

 

ROLLING STONE CO., LTD.

131-3, GAMIL-DONG, HANAM-SI, GYEONGGI-DO, KOREA

TEL:+82-70-7096-1000  FAX:+82-31-903-1495

 

DOOEUN MARBLE & STONE CO., LTD.

RM. 607, SESIN COMPLEX, 66-2, UMYEON-DONG, SEOCHO-GU, SEOUL, KOREA

TEL:+82-2-572-3858  FAX:+82-2-572-4177

 

Related Parties

(Subsidiaries, Joint-Venture & Affiliates)

 

Cooperative Enterprise

-Insured Company

HYUNDAI MARINE & FIRE INSURANCE CO., LTD.(110111-0035893)

 

 

Sales by Region

(Activity & Markets)

 

Not Available.

 

 

Court Action

 

Not Available.

 

 

News Clipping

 

---

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.59

UK Pound

1

Rs.72.31

Euro

1

Rs.60.73

 

 

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%)

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.