MIRA
INFORM REPORT
|
Report Date : |
01.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
DONGSUH COMPANIES INC. |
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Registered Office : |
10th Fl., Dongsuh Bldg. 564, Dohwa-dong, Mapo-gu, Seoul, Korea 121-730 |
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Country : |
South Korea |
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Financials (as on) : |
30.06.2011 |
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Date of Incorporation : |
16.05.1975 |
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Com. Reg. No.: |
105-81-38440 |
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Legal Form : |
Listed Company |
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Line of Business : |
Wholesale of Other Prepared Food |
RATING & COMMENTS
|
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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 |
DONGSUH COMPANIES INC. (Korean Company Name : “(주)동서”) |
|
Registered Address |
564, Dohwa-dong, Mapo-gu, Seoul, Korea |
|
Building |
10th Fl., Dongsuh Bldg. |
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Zip Code |
121-730 |
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Tel |
+82-2-701-5050 |
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Fax |
+82-2-716-7730 |
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E-mail |
eschoi79@dongsuh.com |
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Website |
www.dongsuh.com |
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Trading Address |
10th Fl., Dongsuh Bldg., 564, Dohwa-dong,
Mapo-gu, Seoul, Korea |
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Tel |
+82-2-701-5050 |
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Fax |
+82-2-716-7730 |
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Other Address- Ansan Factory |
24B, Banwol Industrial Complex, 1114,
Singil-dong, Danwon-gu, Ansan-si, Gyeonggi-do, Korea |
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Tel |
+82-31-491-3471~3 |
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Fax |
+82-31-492-2037 |
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Other Address-Sihwa Factory |
2Da-301, Sihwa Industrial Complex, 1263,
Jeongwang 2-dong, Siheung-si, Gyeonggi-do, Korea |
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Tel |
+82-31-431-4240 |
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Fax |
+82-31-432-4620 |
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Other Address-Warehouse |
34-4, Gupyeong-dong, Saha-gu, Busan, Korea |
|
Type |
Export/Import |
|
Industry |
Wholesale of Other Prepared Food |
|
Main Business |
Tea, Coffee, Sauce |
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Sub
Business |
Manufacture of Plastic Films, Sheets and Plates |
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Established (mm/dd/yyyy) |
05/16/1975 |
The Subject owns
the premises of registered HQ address, Ansan Factory, Sihwa Factory and warehouse.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Packaging films(24141514) |
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Sell |
Hardware and fittings(40141700) |
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Sell |
Shelf stable fruit(50101636) |
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Sell |
Soft drinks(50202306) |
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Sell |
Temperature and heat measuring
instruments(41112200) |
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Sell |
Coextruded films(13111205) |
|
Buy |
Packaging boxes(24121503) |
|
Buy |
Resins(13111000) |
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Buy |
Polyethylene(13111016) |
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Buy |
Films(13111200) |
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Buy |
Base Metals(11101700) |
CEO’s
|
Name |
Kim Jong-Won |
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Address |
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Date of Birth |
11/08/1956 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
|
Capital (KRW) |
14,900,000,000 |
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Employees |
238 |
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Formation |
Listed Company (KOSDAQ : 026960) as of 12/27/1995 |
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Bank Details |
Kookmin Bank Citibank, Korea Korea Exchange Bank Woori Bank Hana Bank |
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Corporate Registered No. |
110111-0180888 |
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Business Registered No. |
105-81-38440 |
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Permit & Licenses |
Int’l Trade No.: 831121 |
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Shareholder Position |
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Company History |
05/16/1975 Incorporated as Apollo Heat
Bottle Co., Ltd. 11/14/1978 Changed company name to Apollo
Co., Ltd. 03/31/1981 Changed company name to Yudong
Corporation 02/12/1989 Moved to the present HQ address 05/16/1996 Changed company name to the
present name 08/01/1996 Acquired Saehan Yutong Co., Ltd. |
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Management
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Job Description |
Title |
Name |
Sex |
Date of Birth |
Education |
|
Chairman & CEO |
Mr. |
Kim Sang-Hun |
Korean |
1949.11.29 |
Korea University, Korea |
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President & CEO |
Mr. |
Kim Jong-Won |
Korean |
1956.11.08 |
Seogang University, Korea |
|
Outside Director |
Mr. |
Yoon Se-Cheol |
Korean |
1957.04.16 |
University of Helsinki, Finland |
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Outside Director |
Mr. |
Choi In-Ho |
Korean |
1934.03.08 |
Busan University, Korea |
|
Auditor |
Mr. |
Lee Hong-Jae |
Korean |
1937.04.03 |
Dongah University, Korea |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
211,417,194,167 |
844,552,245,876 |
74,435,010,684 |
|
|
2010 |
353,666,230,000 |
820,945,584,000 |
116,832,479,000 |
|
2009 |
308,838,422,000 |
722,684,057,000 |
107,817,530,000 |
|
2008 |
282,336,739,000 |
643,559,001,000 |
90,119,507,000 |
|
2007 |
235,209,649,805 |
572,631,736,324 |
76,472,756,615 |
|
2006 |
222,018,926,711 |
494,564,280,111 |
63,891,382,729 |
|
2005 |
220,231,122,197 |
464,927,870,872 |
66,858,126,777 |
|
2004 |
218,729,069,751 |
418,257,440,214 |
53,452,287,691 |
(*)06/2011 ’s figures are based on the K-IFRS Accounting System.
Financial Description
|
Authorized Capital(KRW) |
50,000,000,000 |
|
Paid-Up Capital(KRW) |
14,900,000,000 |
|
Total Issued Shares |
29,800,000 |
Balance
Sheet
|
Unit :
Korean Won |
01/01/2011~06/30/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Total
Assets |
844,552,245,876 |
786,983,903,134 |
|
|
Current Assets |
440,951,282,874 |
405,362,371,417 |
|
|
Cash
& Cash Equivalents |
88,182,084,019 |
69,167,779,518 |
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Current
Financial Instruments |
270,000,000,000 |
270,000,000,000 |
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Other
Current Financial Instruments |
450,000 |
15,770,000 |
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Trade
Receivables & Other Receivables |
48,142,032,317 |
44,778,533,618 |
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Other
Current Assets |
250,390,415 |
273,048,170 |
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Derivatives |
10,012,466 |
722,575 |
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Inventories |
34,366,313,657 |
21,126,517,536 |
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Non-Current Assets |
403,600,963,002 |
381,621,531,717 |
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Other
Financial Assets |
12,500,000 |
12,500,000 |
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Marketable
Financial Instruments |
473,640,000 |
473,640,000 |
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Other
Financial Instruments |
19,992,073,192 |
59,365,000 |
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Investment_Subsidiaries |
16,230,137,671 |
16,230,137,671 |
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Investment_Related
Companies |
301,343,973,604 |
301,292,973,604 |
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Long-Term
Trade Receivables & Other Receivables |
482,660,175 |
59,455,000 |
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Tangibles |
52,558,450,080 |
50,946,747,620 |
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Intangibles |
1,040,856,187 |
990,174,293 |
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Investment_Real
Estates |
11,466,672,093 |
11,556,538,529 |
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Total Liabilities |
94,747,550,530 |
76,347,837,209 |
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Current Liabilities |
63,903,279,073 |
45,737,883,326 |
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Trade
Payables & Other Payables |
45,020,694,788 |
34,394,278,822 |
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Other
Current Liabilities |
1,647,789,776 |
1,747,983,166 |
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Accrued
Income Tax |
17,225,605,871 |
9,591,051,115 |
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Derivatives |
9,188,638 |
4,570,223 |
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Non-Current Liabilities |
30,844,271,457 |
30,609,953,883 |
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Long-Term
Trade Payables & Other Payables |
3,689,462,987 |
3,724,026,082 |
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Provision
for Severance & Retirement |
2,134,637,627 |
1,598,839,446 |
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Deferred
Income Tax Credit |
25,020,170,843 |
25,287,088,355 |
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Capital Stock |
14,900,000,000 |
14,900,000,000 |
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Others |
187,807,623 |
187,807,623 |
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Profit
Surplus |
734,716,887,723 |
695,548,258,302 |
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Total
Equity |
749,804,695,346 |
710,636,065,925 |
|
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Liab.
& Shareholder’s Equity |
844,552,245,876 |
786,983,903,134 |
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Balance
Sheet
|
Unit : Thousand Korean Won |
01/01/2011~06/30/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Total Assets |
820,945,584 |
722,684,057 |
643,559,001 |
|
Current Assets |
404,952,255 |
345,509,325 |
279,814,768 |
|
-Quick Assets |
383,825,737 |
326,719,092 |
259,817,009 |
|
-Inventories |
21,126,518 |
18,790,233 |
19,997,759 |
|
Fixed Assets |
415,993,329 |
377,174,732 |
363,744,233 |
|
-Investment |
356,143,102 |
318,084,386 |
303,016,323 |
|
-Tangibles |
58,873,027 |
58,013,600 |
59,656,794 |
|
-Intangibles |
147,994 |
241,235 |
126,810 |
|
-Others |
829,206 |
835,511 |
944,306 |
|
Total Liabilities |
90,892,652 |
79,590,217 |
82,650,871 |
|
Current Liabilities |
46,266,406 |
40,713,469 |
46,729,121 |
|
Fixed Liabilities |
44,626,246 |
38,876,748 |
35,921,750 |
|
Capital Stock |
14,900,000 |
14,900,000 |
14,900,000 |
|
Capital Surplus |
46,906,962 |
46,906,961 |
46,906,961 |
|
Profit Surplus |
621,695,253 |
535,707,492 |
454,328,288 |
|
Capital Adjustment |
46,550,717 |
45,579,387 |
44,772,881 |
|
Total Equity |
730,052,932 |
643,093,840 |
560,908,130 |
|
Liab. & Shareholder’s Equity |
820,945,584 |
722,684,057 |
643,559,001 |
Income
Statement
|
Unit : Korean Won |
01/01/2011~06/30/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Sales |
211,417,194,167 |
|
|
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Cost of Sold Goods |
175,913,630,699 |
|
|
|
Gross Profit |
35,503,563,468 |
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|
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Selling Expenses |
3,495,766,950 |
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|
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Admin. Expenses |
8,282,866,124 |
|
|
|
Other Operating Income |
3,481,426,994 |
|
|
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Other Operating Expenses |
758,666,103 |
|
|
|
Operating Income |
26,447,691,285 |
|
|
|
Finance Income |
65,851,080,031 |
|
|
|
Finance Expenses |
1,476,921 |
|
|
|
Income Before Taxes |
92,297,294,395 |
|
|
|
Income Taxes Expenses |
17,862,283,711 |
|
|
|
Net Income |
74,435,010,684 |
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|
Income
Statement
|
Unit : Thousand Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
353,666,230 |
308,838,422 |
282,336,739 |
|
Cost of Sold Goods |
291,421,783 |
251,013,517 |
237,169,256 |
|
Gross Profit |
62,244,447 |
57,824,905 |
45,167,483 |
|
Selling & Admin. Expenses |
19,823,506 |
17,509,329 |
15,745,961 |
|
Operating Income |
42,420,941 |
40,315,576 |
29,421,522 |
|
Non-Operating Income |
103,984,236 |
97,446,322 |
85,267,033 |
|
Non-Operating Expenses |
2,041,271 |
2,883,609 |
4,740,435 |
|
Income Before Taxes |
144,363,906 |
134,878,289 |
109,948,120 |
|
Income Taxes Expenses |
27,531,427 |
27,060,759 |
19,828,613 |
|
Net Income |
116,832,479 |
107,817,530 |
90,119,507 |
Cash
Flows
|
Unit : Korean Won |
01/01/2011~06/30/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Operating
Activities Cash Flows |
77,522,505,539 |
|
|
|
Cash Flows from Operating |
22,947,481,804 |
|
|
|
Net Income |
74,435,010,684 |
|
|
|
Adjustment |
-51,487,528,880 |
|
|
|
Interests Received |
5,992,170,202 |
|
|
|
Dividends Received |
59,077,500,000 |
|
|
|
Income Taxes |
-10,494,646,467 |
|
|
|
Cash Flows from Investing |
-23,257,097,038 |
|
|
|
Cash Flows from Financing |
-35,251,104,000 |
|
|
|
Increase/Decrease in Cash |
19,014,304,501 |
|
|
|
Cash at the Beginning of Year |
69,167,779,518 |
|
|
|
Cash at the End of Year |
88,182,084,019 |
|
|
Cash
Flows
|
Unit : Thousand Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows
from Operating |
84,275,291 |
85,242,471 |
108,268,373 |
|
-Net Income |
116,832,479 |
107,817,530 |
90,119,507 |
|
-Exp.
without Cash Outflow |
4,381,023 |
5,172,557 |
5,669,857 |
|
-Revenue
without Cash Inflows |
-89,865,655 |
-72,655,580 |
-66,664,739 |
|
-Changes in
Asset/ & Liability |
52,927,444 |
44,907,964 |
79,143,748 |
|
Cash Flows
from Investing |
-116,886,216 |
21,979,510 |
-117,262,997 |
|
-Cash Inflow
from Investing |
145,154 |
24,732,953 |
322,190 |
|
-Cash
Outflows for Investing |
-117,031,370 |
-2,753,443 |
-117,585,187 |
|
Cash Flows
from Financing |
-30,844,716 |
-26,438,328 |
-23,500,736 |
|
-Cash
Inflows from Financing |
|
|
2,839,885 |
|
-Cash
Outflows from Financing |
-30,844,716 |
-26,438,328 |
-26,340,621 |
|
Increase/Decrease
in Cash |
-63,455,641 |
80,783,653 |
-32,495,360 |
|
Cash at the
Beginning of Year |
132,623,421 |
51,839,768 |
84,335,128 |
|
Cash at the
End of Year |
69,167,780 |
132,623,421 |
51,839,768 |
Products, Technologies, Services Description
|
Main Products & Services |
Tea, Coffee, Sauce Packing Business Division Tea Business Division Wholesales of Edible Oils and Beverages |
Trade Partners & Competitors
|
Suppliers |
DONGSUH FOOD & TRADING CO.,
LTD.(124311-0011116) DONGSUH FOODS CORPORATION(120111-0000464) DONG SUH OIL & FATS CO.,
LTD.(194211-0002824) |
|
Competitors |
CJ FRESHWAY CORPORATION 156-2 HAKAL-REE GEEHUENG-GU YOUNGIN-SI,
KYEONGGI-DO, 449-910 SOUTH KOREA TEL:+82-2-21496007 FAX:+82-2-21496098 E-NET CORPORATION 2F, SOOAHM BUILDING 66-1 YANGJAE-DONG SUHCHO-GU
SEOUL, 138-240 SOUTH KOREA TEL:+82-2-34983400 FAX:+82-2-5747447 NRD CO., LTD. 344 DAEYA-RI SAMSEONG-MYEON EUMSEON-GUN,
CHOONGCHUNGBOOK-DO, 369-830 SOUTH KOREA TEL:+82-43-8788851 FAX:+82-43-8776818 |
Related Parties
(Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
DONGSUH FOODS CORPORATION(120111-0000464) (50.0% held by the subject company) DONG SUH OIL & FATS CO.,
LTD.(194211-0002824) (19.0% held by the subject company) DONGSUH FOOD & TRADING CO.,
LTD.(124311-0011116) (62.5% held by the subject company) DAESUNG MACHINERY CO., LTD. (48.0% held by the subject company) SUNG JE DEVELOPMENT CO.,
LTD.(110111-0430142) (19.8% held by the subject company) DONGSUH SILUP CO., LTD.(CHINA) (100.0% held by the subject company) DONGSUH BEVERAGE CORPORATION(110111-4537126) (17.00% held by the subject company) MIGABANG CO., LTD.(284714-0000146) |
|
Subsidiary |
DONGSUH FOOD & TRADING CO.,
LTD.(124311-0011116) (62.5% held by the subject company) |
Sales by Region
(Activity &
Markets)
|
Sales/ Unit :Thousand KRW |
06/2011 |
2010 |
2009 |
|
Export |
30,738,711 |
47,481,709 |
46,109,405 |
|
Domestic |
180,678,484 |
301,960,955 |
246,906,391 |
|
Others |
|
|
15,822,627 |
|
Total |
211,417,195 |
349,442,664 |
308,838,423 |
Court Action
No.
News Clipping
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.87 |
|
|
1 |
Rs.78.11 |
|
Euro |
1 |
Rs.68.36 |
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.