MIRA INFORM REPORT

 

 

Report Date :

08.03.2011

 

IDENTIFICATION DETAILS

 

Name :

DAELIM CORPORATION

 

 

Registered Office :

10th Fl., Korea Chamber of Commerce & Industry 45, Namdaemunno 4-ga, Jung-gu, Seoul, Korea 100-743

 

 

Country :

South Korea

 

 

Financials (as on) :

30.09.2010

 

 

Date of Incorporation :

01.10.1994

 

 

Com. Reg. No.:

110-81-30979

 

 

Legal Form :

Company Limited by Shares

 

 

Line of Business :

Wholesale of Other Chemical Materials and Chemical Products

 

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 – December 31, 2010

 

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

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

DAELIM CORPORATION

(Korean Company Name : “(주)대림코퍼레이션”)

Registered Address

45, Namdaemunno 4-ga, Jung-gu, Seoul, Korea

Building

10th Fl., Korea Chamber of Commerce & Industry

Zip Code

100-743

Tel

+82-2-3708-3000

Fax

+82-2-3708-3571

E-mail

daecoweb@daelimcorp.co.kr

Website

www.daelimcorp.co.kr

Trading Address

10th Fl., Korea Chamber of Commerce & Industry, 45, Namdaemunno 4-ga, Jung-gu, Seoul, Korea

Tel

+82-2-3708-3000

Fax

+82-2-3708-3571

Other Address-R&D Center

217-3 Sinseong-dong Yusong-gu, Daejeon, Korea

Tel

+82-42-869-7540

Fax

+82-42-869-7545

Other Address-Yeosu Center

1005 Pyeongyeo-Dong ,Yeosu-si, Jeollanam-do, Korea

Tel

+82-61-692-6661

Fax

+82-61-692-6660

Other Address-ChungJu Center

ChungJu Industrial Complex 1135 Youngtan-Dong, ChungjJu-Si, Chungcheongbuk-do Korea

Tel

+82-43-856-1310

Fax

+82-43-856-1311

Other Address-R&D Center

217-3 Sinseong-dong Yusong-gu, Daejeon, Korea

Tel

+82-42-869-7540

Fax

+82-42-869-7545

Other Address-Yeosu Center

1005 Pyeongyeo-Dong ,Yeosu-si, Jeollanam-do, Korea

Tel

+82-61-692-6661

Fax

+82-61-692-6660

Other Address-ChungJu Center

ChungJu Industrial Complex 1135 Youngtan-Dong, ChungjJu-Si, Chungcheongbuk-do Korea

Tel

+82-43-856-1310

Fax

+82-43-856-1311

Type

Export

Industry

Wholesale of Other Chemical Materials and Chemical Products

  Main Business

Monomer, Polymer, Tarpaulin, Aluminum Ingots, Aluminum Scraps, Transport Arrangement Service, Marine Transport, Shipping Agency, K-Resin, Polyamide, Polybutene

  Sub Business

 

Established (mm/dd/yyyy)

10/01/1994

The Subject Company occupies the premises of registered HQ address by leasing base.

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Phone headsets(43191609)

Sell

Scooters(25101802)

Sell

Power adapters or inverters(39121006)

Sell

Keyboards(43211706)

Sell

Televisions(52161505)

Sell

Plastic sheet(30102515)

Sell

Vehicle handsfree phone set(43191615)

Sell

Pigment paints(31211503)

Sell

Naphtha(15101503)

Sell

Liquified petroleum gas(15111510)

Sell

Heat pumps(40101806)

Sell

Films(13111200)

Sell

High Density Polyethylene HDPE(13102017)

Sell

Low Density Polyethylene LDPE(13102018)

Sell

Pipe(40142100)

Sell

Chemistry reagents or solutions(41116105)

Sell

Aromatic or heterocyclic compounds(12352005)

Sell

Fuel oil(15101700)

Sell

Polystyrene PS(13102026)

Sell

Elastomers(13101700)

Sell

Organic derivatives and substituted compounds(12352100)

Sell

Compounded resin(13111037)

Sell

Petroleum and distillates(15101500)

Sell

Aromatic or heterocyclic compounds(12352005)

 

 

CEO’s

 

Name

Kee Eui-Suk

Date of Birth

04/25/1953

Title

President & CEO

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

36,829,810,000

Employees

194

Formation

Co., Ltd by shares

A Company of DAELIM BUSINESS GROUP

Bank Details

Woori Bank-Susong Dong Branch

Corporate Registered No.

110111-1081093

Business Registered No.

110-81-30979

Permit & Licenses

Int’l Trade No. : 11190837

Shareholder Position

Name

Shares

%

LEE JOON-YONG

4,490,137

61.00

LEE HAE-WOOK

2,365,962

32.10

ORA RESORT CO., LTD.(220111-0001536)

455,235

6.20

LEE HAE-SEUNG

54,628

0.70

TOTAL

7,365,962

100.00

Company History

10/01/1994 Incorporated as the present name

12/2006 Moved to the present HQ address

11/2008 Acquired DAELIM H&L CO., LTD.(110111-2198631)

 

 

 

 

Management

 

Job Description

Title

Name

Nationality

Date of Birth

Education

Vice Chairman & CEO

Mr.

Lee Hae-Wook

Korean

1968.02.14

Columbia University, USA

President & CEO

Mr.

Kee Eui-Suk

Korean

1953.04.25

Seoul National University, Korea

Director

Mr.

Lee Hyuck-Soo

Korean

1964.05.24

-

Director

Mr.

Lee Hae-Chang

Korean

1971.01.07

-

Auditor

Mr.

Kim Jin-Seo

Korean

1957.08.28

Yonsei University, Korea

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

09/2010

2,517,332,911,120

1,761,895,666,830

30,259,421,791

2009

  2,669,965,345,248

1,739,797,471,760

   63,166,570,323

2008

 2,697,134,104,636

1,501,257,174,863

   10,713,060,609

2007

2,045,859,654,211

1,296,877,694,259

74,422,054,455

2006

1,637,235,335,856

1,143,217,605,223

45,592,164,793

2005

1,619,135,635,132

974,095,732,301

56,543,975,190

2004

1,818,331,717,057

858,160,730,021

105,548,915,160

 

 

Financial Description

 

Authorized Capital(KRW)

100,000,000,000

Paid-Up Capital(KRW)

36,829,810,000

Total Issues Shares

7,365,962

 

 

Balance Sheet

 

Unit : Korean Won

01/01/2010~09/30/2010

As of 12/31/2009

As of 12/31/2008

Total Assets

1,761,895,666,830

1,739,797,471,760

1,501,257,174,863

Current Assets

382,462,024,357

379,469,210,753

    257,503,164,730

-Quick Assets

369,015,401,959

370,297,945,879

    250,914,295,048

-Inventories

13,446,622,398

9,171,264,874

     6,588,869,682

Fixed Assets

1,379,433,642,473

1,360,328,261,007

1,243,754,010,133

-Investment

880,911,066,370

821,577,772,423

   668,981,775,235

-Tangibles

392,366,977,570

409,333,402,572

413,087,405,146

-Intangibles

97,390,838,742

121,122,663,736

        152,777,932,221

-Others

8,764,759,791

8,294,422,276

  8,906,897,531

Total Liabilities

906,656,033,970

905,602,207,528

    767,350,477,637

Current Liabilities

352,916,344,777

374,636,492,795

285,805,006,019

Fixed Liabilities

553,739,689,193

530,965,714,733

   481,545,471,618

Capital Stock

36,829,810,000

36,829,810,000

    36,829,810,000

Capital Surplus

183,857,726,870

183,857,726,870

    183,857,726,870

Profit Surplus

519,309,290,345

496,415,830,554

   438,773,731,731

Capital Adjustment

115,242,805,645

117,091,896,808

      74,445,428,625

Total Equity

855,239,632,860

834,195,264,232

     733,906,697,226

Liab. & Shareholder’s Equity

1,761,895,666,830

1,739,797,471,760

    1,501,257,174,863

 

Current Liabilities

352,916,344,777

374,636,492,795

   374,636,492,795

Trade Payables

234,752,858,245

129,676,600,738

   129,676,600,738

Short-Term Borrowings

10,904,642,340

56,676,000,000

     56,676,000,000

Current Portion of Long-Term Debts

   36,667,121,510

40,774,503,167

     40,774,503,167

Current Portion of Debentures

40,000,000,000

120,000,000,000

   120,000,000,000

Account Payables

18,701,603,701

19,195,846,903

     19,195,846,903

Advance Receipts

   2,105,793,311

2,903,609,286

      2,903,609,286

Withholdings

     442,784,929

466,954,971

         466,954,971

Accrued Expenses

1,499,399,905

1,315,695,347

      1,315,695,347

Accrued Income Tax

   689,791,468

235,405,720

         235,405,720

Current Portion of Deferred Income Tax Credit

-　

25,729,502

           25,729,502

Other Current Liabilities

7,152,349,368

3,506,591,399

      3,506,591,399

Fixed Liabilities

553,739,689,193

530,965,714,733

   530,965,714,733

Debentures

130,000,000,000

90,000,000,000

    90,000,000,000

Long-Term Borrowings

249,929,709,929

281,539,371,014

   281,539,371,014

Provision for Severance & Retirement

 433,767,706

577,863,625

        577,863,625

Non-Current Portion of Deferred Income Tax Credit

 1,899,926,671

157,283,580,885

   157,283,580,885

Other Non-Current Liabilities

171,825,208,459

2,125,330,742

     2,125,330,742

 

Income Statement

 

Unit : Korean Won

01/01/2010~09/30/2010

As of 12/31/2009

As of 12/31/2008

Sales

2,517,332,911,120

  2,669,965,345,248

 2,697,134,104,636

Cost of Sold Goods

2,457,145,701,866

  2,592,642,583,209

 2,599,142,136,829

Gross Profit

60,187,209,254

     77,322,762,039

      97,991,967,807

Selling & Admin. Expenses

61,479,163,372

      80,848,577,284

      46,537,208,444

Operating Income

-1,291,954,118

-3,525,815,245

      51,454,759,363

Non-Operating Income

138,381,868,230

 206,995,916,473

   171,114,675,486

Non-Operating Expenses

91,548,231,815

110,203,411,058

   241,143,863,573

Ordinary Income

45,541,682,297

 93,266,690,170

-18,574,428,724

Special Income

-

-

-

Income Before Taxes

45,541,682,297

 93,266,690,170

-18,574,428,724

Income Taxes Expenses

15,282,260,506

     30,100,119,847

-29,287,489,333

Net Income

30,259,421,791

   63,166,570,323

   10,713,060,609

 

 

Cash Flows

 

Unit : Korean Won

01/01/2010~09/30/2010

As of 12/31/2009

As of 12/31/2008

Cash Flows from Operating

15,113,569,501  

20,305,743,539

50,984,728,998

-Net Income

30,259,421,791

63,166,570,323

10,713,060,609

-Exp. without Cash Outflow

53,672,082,990

67,894,137,845

103,567,835,929

-Revenue without Cash Inflows

(71,706,505,790

-99,020,227,622

-32,551,797,226

-Changes in Asset/ & Liability

2,888,570,510

-11,734,737,007

-30,744,370,314

Cash Flows from Investing

-6,249,472,771

-42,897,263,112

63,632,364,898

-Cash Inflow from Investing

186,693,550

17,682,306,316

825,813,994,587

-Cash Outflows for Investing

-6,436,166,321

-60,579,569,428

-762,181,629,689

Cash Flows from Financing

-122,888,079,965

89,440,224,011

-198,864,108,810

-Cash Inflows from Financing

79,591,900,000

502,302,702,894

798,801,164,600

-Cash Outflows from Financing

-202,479,979,965

-412,862,478,883

-997,665,273,410

Increase/Decrease in Cash

-114,023,983,235

66,848,704,438

-84,247,014,914

Cash at the Beginning of Year

155,775,256,950

88,926,552,512

173,173,567,426

Cash at the End of Year

41,751,273,715

155,775,256,950

88,926,552,512

 

 

Products, Technologies, Services Description

 

Main Products & Services

Sales and Agency Business of Petrochemical, Business of Ship Sales and Chartered Ship

 

Petrochemical Business

Shipping Business

 

 

Trade Partners & Competitors

 

Customers

YEOCHUN NCC CO., LTD.(110111-1839096)

LG CHEM LTD.(110111-2207995)

HONAM PETRO CHEMICAL CORPORATION(110111-0193196)

 

MITSUI & CO., LTD.

CARGILL INTERNATIONAL TRADING PTE LTD

DAELIM YIBIANSHI(SHANGHAI)TRADING CO.,LTD

TRAMMOCHEM ASIA PTE LTD

MARUBENI CORPORATION

 

Competitors

COGNIS KOREA LTD.

5TH FL., GANGNAM METRO BLDG., 1339-9, SEOCHO 2-DONG, SEOCHO-GU, SEOUL, KOREA

TEL:+82-2-3489-7600  FAX:+82-2-584-7603

 

NAMDUCK MOOLSAN CO., LTD.

RM. 1014, YEOUIDO DEPT. STORE, 36-2, YEOUIDO-DONG, YEONGDEUNGPO-GU, SEOUL, KOREA

TEL:+82-2-3774-0900  FAX:+82-2-3774-0901

 

KOWON CO., LTD.

7TH FL., GOWON BLDG., 20-19, YANGJAE 1-DONG, SEOCHO-GU, SEOUL, KOREA

TEL:+82-2-578-6181  FAX:+82-2-578-6692

 

Related Parties

(Subsidiaries, Joint-Venture & Affiliates)

 

Affiliates-Domestic

DAELIM INDUSTRIAL CO., LTD.(110111-0084915)

KOREA DEVELOPMENT CORPORATION(110111-0052037)

SAMHO CO., LTD.(180111-0434372)

DAELIM COPORATION(110111-1081093)

WEB-TECH CORP.(110111-1799406)

DAELIM I&S CO., LTD.(110111-1143009)

ORA RESORT CO., LTD.(220111-0001536)

DAELIM MOTOR CO., LTD.(110111-0227359)

DAELIM CONCRETE PROCUCTS CO., LTD.(110111-0061228)

ECO SULIHALL CO., LTD.(115611-0045657)

MANWOLSAN TUNNEL CO., LTD.(120111-0144444)

YOUNGCHEON SANGJU HIGHWAY CO., LTD.(110111-3581520)

SUDOKWON SEOBU HIGHWAY CO., LTD.(135111-0082770)

GIMHAE DONGSEO TUNNEL CO., LTD.(195511-0106752)

SONGDO POWER CO., LTD.(110111-3936189)

GREEN TECHNOLOGY DEVELOPMENT CO., LTD.(284411-0050771)

 

Affiliates-Overseas

DAELIM PHILIPPINES, INC(PHILIPPINES)

INTEGRATED ENGINEERING LTD.(MALAYSIA)

PT. DAELIM UTAMA CONSTRUCTION(INDONESIA)

DAELIM MALAYSIA, SDN. BHD.(MALAYSIA)

DAELIM SAUDI ARABIA CO.,LTD(SAUDI ARABIA)

DAELIM(SHANGHAI) INTERNATIONAL TRADING CO., LTD.(CHINA)

DAELIM VIETNAM LTD.(VIETNAM)

DAELIM(NAMKYUNG) CONSTRUCTION CO., LTD.(CHINA)

 

HHVC SHIPPING PTE.LTD.(SINGAPORE)

(50.0% held by the subject company)

 

WBLC SHIPPING PTE.LTD.(SINGAPORE)

(50.0% held by the subject company)

Overseas Office

DAELIM CORP. SHANGHAI OFFICE

1708 TOWER B CITY CENTER OF SHANGHAI NO.100 ZUNYI RD., SHANGHAI,200051

TEL:+86-21-6237-0099  FAX:+86-21-6237-0019

 

DAELIM CORP. GUANGZHOU OFFICE

RM 2112, CITIC PLAZA, TIANHE NORTH RD(E),GUANGZHOU, P.R.C

TEL:+86-20-3877-3455  FAX:+86-20-3877-3805

 

DAELIM CORP. HOCHIMINH OFFICE

8F OSIC BUILDING 8 NGUYEN HUE STREET, DISTRICT 1, HOCHIMINH CITY, VIETNAM

TEL:+84-8-822-8683  FAX:+84-8-822-8685

 

DAELIM CORP. SINGAPORE BRANCH

ADDRESS : 10 HOE CHIANG ROAD #04-07 KEPPEL TOWERS SINGAPORE 089315

TEL:+65-6327-9330  FAX:+65-6327-9350

Subsidiary

 

DAELIM VIETNAM LTD.

 

Cooperative Enterprise

-Insured Company

SAMSUNG FIRE & MARINE INSURANCE CO., LTD(110111-0005078)

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

 

 

Sales by Region

(Activity & Markets)

 

Sales/ Unit :Mil KRW

09/2010

2009

2008

Export

1,088,887

1,237,108

2,324,544

Domestic

1,428,446

1,432,858

372,590

Total

2,517,333

2,669,966

2,697,134

 

The Subject deals with the companies in Singapore, China, and Vietnam.

 

 

Court Action

 

--

 

 

News Clipping

 

--

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.13

UK Pound

1

Rs.73.36

Euro

1

Rs.63.06

 

 

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.