MIRA INFORM REPORT
|
Report Date : |
28.03.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
DONGYANG MECHATRONICS CORP. |
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Formerly Known As : |
Dongyang
Hydraulics Co., Ltd. |
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Registered Office : |
616-4, Namchon-dong, Namdong-gu, |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
05.10.1978 |
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Com. Reg. No.: |
139-81-04152 |
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Legal Form : |
Listed Company |
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Line of Business : |
Manufacturer of Compressing Engines and Motors |
RATING & COMMENTS
|
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 |
|
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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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
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Company
Name |
DONGYANG MECHATRONICS CORP. (Korean Company Name : “동양기전(주)”) |
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Registered Address |
616-4, Namchon-dong, Namdong-gu, |
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Building |
9B-5L |
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Zip Code |
405-846 |
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Tel |
+82-32-810-4100 |
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Fax |
+82-32-812-4200 |
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E-mail |
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Website |
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Trading Address |
Haearm B/D., 131-4, Sinwol-dong,
Yangcheon-gu, |
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Tel |
+82-2-2600-4300 |
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Other Address-Changwon Factory |
48-6, Seongju-dong, Changwon-si, |
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Tel |
+82-55-278-0800 |
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Fax |
+82-55-282-6667 |
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Other Address-ChangwonⅡ Factory |
62-4, Ungnam-dong, Changwon-si, |
|
Tel |
+82-55-278-0800 |
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Other Address-Iksan Factory |
833, Palbong-dong, Iksan-si, |
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Tel |
+82-63-830-4400 |
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Fax |
+82-63-835-6549 |
|
Type |
Export |
|
Industry |
Manufacture of Other Parts and Accessories for Motor Vehicles |
|
Main Business |
DC Motors, Oil Pressure Cylinder, Car Washing Systems, Concrete Pump
Car, Cargo Crane |
|
Sub
Business |
Manufacture of Compressing Engines and Motors |
|
Established (mm/dd/yyyy) |
10/05/1978 |
The Subject owns
the premises of registered address/factory, Changwon Factory, ChangwonⅡ Factory and Iksan
Factory.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Motors(26101600) |
|
Sell |
Fan(25174001) |
|
Sell |
Hydraulic cylinders(27121602) |
|
Sell |
|
|
Buy |
Aluminum(11101705) |
|
Buy |
Thermoplastic plastics(13102000) |
|
Buy |
Grease(15121902) |
|
Buy |
Motor or generator components(26101800) |
|
Buy |
Copper coil(30101909) |
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Buy |
Shafting(30103000) |
|
Buy |
Screws(31161500) |
|
Buy |
Bolts(31161600) |
|
Buy |
Nuts(31161700) |
|
Buy |
Ball bearings(31171504) |
|
Buy |
Permanent magnets(31381000) |
|
Buy |
Seals(31181600) |
|
Buy |
Gaskets(31181500) |
|
Buy |
Springs(31161900) |
CEO’s
|
Name |
Yang Jae-Ha |
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Address |
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Date of Birth |
02/12/1952 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
|
Capital (KRW) |
15,832,654,000 |
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Employees |
1,053 |
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Formation |
Listed Company ( |
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Bank Details |
Kookmin Bank Korea Development Bank Shinhan Bank Hana Bank |
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Corporate Registered No. |
194211-0000472 |
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Business Registered No. |
139-81-04152 |
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Permit & Licenses |
07/1996 ISO 9001 12/11/1996 Single PPM 11/1997 QS 9000 08/1999 ISO 9001 12/2001 ISO 14001 Int’l Trade No.: 979540 |
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Shareholder Position |
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Company History |
10/05/1978 Incorporated as Dongyang
Hydraulics Co., Ltd. 08/22/1988 Changed the company name to
Dongyang Mechatronics Corp. 11/30/2005 Awarded US$ 100 Million Export
Top Prize |
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Management
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Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
Chairman & CEO |
Mr. |
Cho Byung-Ho |
Korean |
1946.04.05 |
|
|
President & CEO |
Mr. |
Yang Jae-Ha |
Korean |
1952.02.12 |
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|
Outside Director |
Mr. |
Song Tae-Ho |
Korean |
1945.01.11 |
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Auditor |
Mr. |
Choi Chung-Kook |
Korean |
1949.11.02 |
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Executive Director |
Mr. |
Ahn Kyung-Ki |
Korean |
1963.10.27 |
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Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
473,882,565,304 |
323,099,056,243 |
46,483,243,771 |
|
|
2009 |
281,341,438,775 |
268,590,573,980 |
13,152,246,825 |
|
2008 |
418,552,633,935 |
306,628,588,845 |
-10,664,932,640 |
|
2007 |
409,382,824,655 |
272,528,562,247 |
16,989,166,183 |
|
2006 |
340,961,204,615 |
203,386,151,123 |
12,186,782,576 |
|
2005 |
275,986,904,465 |
182,114,764,677 |
10,189,471,006 |
|
2004 |
246,369,247,542 |
158,854,892,304 |
22,024,852,475 |
|
2003 |
219,815,962,991 |
139,736,106,031 |
12,296,436,530 |
Financial Description
|
Authorized Capital(KRW) |
40,000,000,000 |
|
Paid-Up Capital(KRW) |
15,832,654,000 |
|
Total Issues Shares |
31,665,308 |
Balance Sheet
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
323,099,056,243 |
268,590,573,980 |
306,628,588,845 |
|
Current Assets |
194,401,420,998 |
162,315,816,045 |
204,921,119,356 |
|
-Quick Assets |
143,795,427,758 |
123,716,241,333 |
147,235,067,701 |
|
-Inventories |
50,605,993,240 |
38,599,574,712 |
57,686,051,655 |
|
Fixed Assets |
128,697,635,245 |
106,274,757,935 |
101,707,469,489 |
|
-Investment |
64,868,244,001 |
37,587,950,895 |
31,874,716,948 |
|
-Tangibles |
58,607,231,210 |
60,635,922,055 |
63,945,525,493 |
|
-Intangibles |
3,315,264,427 |
2,494,792,816 |
3,319,103,008 |
|
-Others |
1,906,895,607 |
5,556,092,169 |
2,568,124,040 |
|
Total Liabilities |
106,540,377,738 |
95,781,561,625 |
143,373,197,442 |
|
Current Liabilities |
51,701,806,937 |
71,741,486,964 |
103,468,755,400 |
|
Fixed Liabilities |
54,838,570,801 |
24,040,074,661 |
39,904,442,042 |
|
Capital Stock |
15,832,654,000 |
15,800,154,000 |
15,800,154,000 |
|
Capital Surplus |
71,071,988,242 |
70,998,602,580 |
70,998,602,580 |
|
Profit
Surplus |
126,887,788,832 |
83,500,726,861 |
71,896,570,936 |
|
Capital
Adjustment |
2,766,247,431 |
2,509,528,914 |
4,560,063,887 |
|
Total Equity |
216,558,678,505 |
172,809,012,355 |
163,255,391,403 |
|
Liab. &
Shareholder’s Equity |
323,099,056,243 |
268,590,573,980 |
306,628,588,845 |
|
Current Liabilities |
51,701,806,937 |
71,741,486,964 |
103,468,755,400 |
|
Trade Payables |
31,846,680,257 |
22,334,721,360 |
13,458,354,953 |
|
Short-Term Borrowings |
7,181,538,000 |
19,942,470,000 |
28,802,500,000 |
|
Current Portion of
Long-Term Debts |
1,666,640,000 |
1,666,640,000 |
835,565,420 |
|
Current Portion of Debentures |
- |
12,654,000,000 |
10,000,000,000 |
|
Account Payables |
6,406,654,668 |
5,779,334,694 |
4,704,865,887 |
|
Accrued Expenses |
1,542,985,833 |
1,717,689,764 |
4,710,554,544 |
|
Accrued Dividends |
983,480 |
893,250 |
844,750 |
|
Accrued Income Tax |
- |
- |
3,525,413,405 |
|
Advance Receipts |
1,068,979,836 |
1,339,906,605 |
1,966,509,842 |
|
Withholdings |
1,320,404,229 |
605,453,220 |
953,662,820 |
|
Unearned Income |
308,051,799 |
357,739,334 |
402,153,998 |
|
Guarantee Deposit Withhold |
130,044,660 |
120,286,200 |
100,000,000 |
|
Derivatives |
228,844,175 |
4,879,746,427 |
34,008,329,781 |
|
Fixed Liabilities |
54,838,570,801 |
24,040,074,661 |
39,904,442,042 |
|
Debentures |
11,000,000,000 |
6,000,000,000 |
12,654,000,000 |
|
Long-Term Borrowings |
28,833,240,000 |
7,499,880,000 |
9,200,737,070 |
|
Long-Term Account Payables |
1,500,163,600 |
2,590,723,800 |
2,290,552,800 |
|
Provision for Severance & Retirement |
16,870,102,155 |
16,709,336,349 |
15,778,797,142 |
|
Provision for Sales Guarantee |
1,375,608,713 |
1,317,562,910 |
1,561,278,489 |
|
Derivatives |
205,729,589 |
127,213,532 |
7,113,336,400 |
|
Non-Current Portion of Deferred Income Tax
Credit |
5,394,954,926 |
- |
- |
Income Statement
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
473,882,565,304 |
281,341,438,775 |
418,552,633,935 |
|
Cost of Sold Goods |
403,392,353,049 |
242,846,779,032 |
352,937,576,240 |
|
Gross Profit |
70,490,212,255 |
38,494,659,743 |
65,615,057,695 |
|
Selling & Admin. Expenses |
44,164,596,517 |
32,698,777,123 |
42,325,166,004 |
|
Operating Income |
26,325,615,738 |
5,795,882,620 |
23,289,891,691 |
|
Non-Operating Income |
39,219,108,750 |
28,011,648,102 |
29,038,478,764 |
|
Non-Operating Expenses |
11,692,884,379 |
15,869,227,402 |
66,166,657,373 |
|
Ordinary Income |
53,851,840,109 |
17,938,303,320 |
-13,838,286,918 |
|
Special Income |
- |
- |
- |
|
Income Before Taxes |
53,851,840,109 |
17,938,303,320 |
-13,838,286,918 |
|
Income Taxes Expenses |
7,368,596,338 |
4,786,056,495 |
-3,173,354,278 |
|
Net Income |
46,483,243,771 |
13,152,246,825 |
-10,664,932,640 |
Cash Flows
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows from Operating |
-5,839,348,754 |
7,477,950,342 |
6,848,308,945 |
|
-Net Income |
46,483,243,771 |
13,152,246,825 |
-10,664,932,640 |
|
-Exp. without Cash Outflow |
25,435,915,084 |
17,045,350,782 |
64,781,224,368 |
|
- |
-30,776,334,515 |
-19,042,572,875 |
-8,043,732,938 |
|
-Changes in
Asset/ & Liability |
-46,982,173,094 |
-3,677,074,390 |
-39,224,249,845 |
|
Cash Flows
from Investing |
-17,445,444,726 |
5,959,242,318 |
-21,509,560,672 |
|
-Cash Inflow
from Investing |
2,009,964,247 |
13,120,956,813 |
4,915,727,576 |
|
-Cash
Outflows for Investing |
-19,455,408,973 |
-7,161,714,495 |
-26,425,288,248 |
|
Cash Flows
from Financing |
-2,351,158,727 |
-14,711,484,890 |
13,233,696,540 |
|
-Cash Inflows
from Financing |
122,620,700,000 |
61,141,220,000 |
38,183,800,000 |
|
-Cash
Outflows from Financing |
-124,971,858,727 |
-75,852,704,890 |
-24,950,103,460 |
|
Increase/Decrease
in Cash |
-25,635,952,207 |
-1,274,292,230 |
-1,427,555,187 |
|
Cash at the
Beginning of Year |
37,278,997,285 |
38,553,289,515 |
39,980,844,702 |
|
Cash at the End of Year |
11,643,045,078 |
37,278,997,285 |
38,553,289,515 |
Products, Technologies, Services Description
|
Main Products & Services |
Automotive Components -Front Wiper System -Rear Wiper System -Cooling Fan Motor -Window Lift Motor -Sunroof Motor -Motor Boat Components Construction Equipment -Excavator -Wheel Loader Industrial machinery -Fork Lift Truck -Crane -Aerial Work Platform -Skid Steer Loader Machinery -Door -Stick Crane -Concrete Pump Car |
Trade Partners & Competitors
|
Suppliers |
YCP CO.,LTD.(180111-0379403) KOREA FORGING CO., LTD.( 230111-0108439) HYUNDAI MOTOR COMPANY(110111-0085450) SHINIL MECHATRONICS CO., LTD.(130111-00355260 |
|
Customers |
GM KOREA COMPANY(120111-0294124) HYUNDAI MOTOR COMPANY(110111-0085450) KIA MOTORS CORPORATION(110111-0037998) DOOSAN INFRACORE CO., LTD.(120111-0234469) KOBELCO |
|
Competitors |
VOLVO GROUP KOREA CO., LTD.(194211-0030164) HYUNDAI HEAVY INDUSTRIES CO., LTD.(181211-0000386) KAYABA PARKER |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Overseas Office |
GERMAN BRANCH OBER DER ROETH 4, 65824 TEL: +49-6196-1053 YANTAI DONGYANG MECHANICS A.P. CO., LTD. 112, TAIHUA, FUSHANGAOXINQU, TEL: +86-535-630-2341 FAX: +86-535-630-2700 DONGYANG MECHATRONICS CHINA CO., LTD.(Ex.
DONGYANG MECHATRONICS YANTAI CO., LTD.) (100.0% held by the subject company) 1003, FUHAILU, FUSHANGAOXINQU, YANTAI, TEL: +86-535-630-2702 FAX: +86-535-630-2700 DONGYANG MECHATRONICS YANTAI CO., LTD. 1006, 10F., XUANRUN INTERNATIONAL B/D.,
1100, TEL: +86-21-64056711 FAX: +86-21-64056533 DONGYANG MECHATRONICS JAPAN CO., LTD. (100.0% held by the subject company) YAGUCHI B/D., 5F-B, 3-8-7, HIGASHIUNEO,
TAITO-KU, TEL: + 81-3-5807-7521 FAX: +81-3-5807-7522 DONGYANG AMERICA INC. (100.0% held by the subject company) 25177, TEL: +248-776-5200 FAX: +248-776-5201 |
|
Subsidiary |
DONGYANG MECHATRONICS CHINA CO., LTD.(Ex.
DONGYANG MECHATRONICS YANTAI CO., LTD.) (100.0% held by the subject company) DONGYANG MECHATRONICS GANGEUM CO., LTD.( (74.29% held by
the subject company) DONGYANG AMERICA INC. (100.0% held by the subject company) DONGYANG MECHATRONICS JAPAN CO., LTD. (100.0% held by the subject company) DONGYANG MECHATRONICS (100.0% held by the subject company) |
|
Cooperative |
MK SEIKO.LTD.-JAPAN DAIICHI TECHNO-JAPAN OHI-JAPAN -Insured Company SAMSUNG FIRE & MARINE INSURANCE CO., LTD.(110111-0005078) |
Sales by Region
(Activity & Markets)
|
Sales/ Unit :Mil KRW |
09/2010 |
2009 |
2008 |
|
Export |
182,537 |
138,171 |
244,689 |
|
Domestic |
159,108 |
143,171 |
173,864 |
|
Total |
341,645 |
281,342 |
418,553 |
The Subject exports
to
Court Action
No.
News Clipping
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.65 |
|
|
1 |
Rs.71.91 |
|
Euro |
1 |
Rs.63.28 |
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 |
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.