MIRA INFORM REPORT
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Report Date : |
03.10.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
SAM DONG CO., LTD. |
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Registered Office : |
San 39, Samho-ri, Daeso-myeon, Eumseong-gun, Chungcheongbuk-do, Korea, Zip Code 369-82 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
15.11.1990 |
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Com. Reg. No.: |
303-81-06751 |
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Legal Form : |
Co., Ltd by shares |
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Line of Business : |
Manufacture of Other Insulated Wire and Cable |
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 : |
Usually Correct |
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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
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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
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Company Name |
SAM DONG CO.,
LTD. (Korean Company Name :
“(주)삼동”) |
|
Registered Address |
San 39, Samho-ri, Daeso-myeon,
Eumseong-gun, Chungcheongbuk-do, Korea |
|
Zip Code |
369-82 |
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Tel |
+82-43-879-4000 |
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Fax |
+82-43-879-4100 |
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E-mail |
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Website |
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Trading Address |
San 39, Samho-ri, Daeso-myeon,
Eumseong-gun, Chungcheongbuk-do, Korea |
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Tel |
+82-43-879-4000 |
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Fax |
+82-43-879-4100 |
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Other Address-Mungyeong Factory |
884, Ocheon-ri, Maseong-myeon,
Mungyeong-si, Gyeongsangbuk-do, Korea |
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Tel |
+82-54-550-3100 |
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Fax |
+82-54-571-4115 |
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Type |
Export/Import |
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Industry |
Manufacture of Other Insulated Wire and Cable |
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Main Business |
Copper Wire |
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Established (mm/dd/yyyy) |
11/15/1990 |
The Subject owns
the premises of registered HQ address and Mungyeong Factory.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Copper wire(26121517) |
|
Sell |
Electrical wire(26121500) |
|
Sell |
Copper(11101715) |
CEO’s
|
Name |
Lee Ee-Joo |
|
Address |
13-1303, 56, Myeongil-dong, Gangdong-gu, Seoul, Korea |
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Date of Birth |
03/27/1951 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
|
Capital (KRW) |
5,117,350,000 |
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Employees |
530 |
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Formation |
Co., Ltd by shares |
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Bank Details |
Korea Development Bank-Cheongju Branch Korea Exchange Bank Shinhan Bank |
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Corporate Registered No. |
131111-0012193 |
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Business Registered No. |
303-81-06751 |
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Permit & Licenses |
06/1997 KS Mark 09/2002 ISO 9001 Int’l Trade No.: 590118 |
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Shareholder Position |
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Company History |
12/19/2008 Increased capital to
5,117,350,000 KRW from 4,967,350,000 KRW 11/2008 Won the prize of 0.2 billion dollar
export tower for commemorating the 45th Trade Day 11/2008 Won the prize of Winners of the Tin
Tower for commemorating the 45th Trade Day 03/2008 Won the prize of Prime Minister for
Strategy and Finance 12/13/2007 Increased the authorized shares
to 1,000,000 shares from 700,000 shares 09/2007 Founded factory in USA 11/2006 Won the prize of 0.1 billion dollar
export tower for commemorating the 43rd Trade Day 08/2005 Appointed as specialized part and
material company(Ministry of Commerce, Industry and Energy) 11/2004 Won the prize of 70 million dollar
export tower for commemorating the 41st Trade Day 11/2003 Won the certificate of commendation
from president 10/2002 Certified as promising
company(Korea Development Bank) 09/2002 Achieved ISO 9001 Certificate 11/2001 Won the prize of 30 million dollar
export tower for commemorating the 38th Trade Day 11/2001 Appointed as superior technology
company(KIBO Technology Fund) 04/2000 Appointed as export insurance
nurturing company(Korea Export Insurance Company) 10/1999 Founded Mungyeong
Factory(Mungyeong, Gyeongsangbuk-do) 07/1998 98.Appointed as superior export
product(continuous transposed conductors) by Korea International Trade
Association 08/1998 Registered as venture company(Small
and Medium Business Association) 06/1997 Acquired KS Certificate 11/1995 Won the prize of 10 million dollar
export tower for commemorating the 32nd Trade Day 05/1994 Completed development of high
conductivity, oxygen free copper 11/1993 Won the prize of 0.5 million dollar
export tower for commemorating the 30th Trade Day 11/1993 Won the prize of Prime Minister for
commemorating the 30th Trade Day 03/1993 Completed development of
C.T.C(continuously transposed conductors) 12/1992 Appointed as promising
company(Korea Credit Guarantee Fund) 04/1992 Moved headquarter and
factory(Eumseong-gun, Chungcheonguk-do) 11/15/1990 Incorporated as Sam Dong Co.,
Ltd. |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lee Ee-Joo |
Male |
Korean |
02/07/2006 |
|
Director |
Mr. |
Jeon Joo-Heum |
Male |
Korean |
02/07/2006 |
|
Director |
Mr. |
Jeong Jin-Bok |
Male |
Korean |
02/07/2006 |
|
Director |
Mr. |
Park Soon-Ki |
Male |
Korean |
02/07/2006 |
|
Auditor |
Mr. |
Kim Sung-Kyu |
Male |
Korean |
03/28/2000 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
899,623,334,137 |
244,547,833,041 |
21,458,796,579 |
|
|
2009 |
619,672,729,870 |
187,734,039,789 |
20,013,977,627 |
|
2008 |
622,146,981,552 |
141,070,013,464 |
10,769,596,170 |
|
2007 |
380,114,680,394 |
90,744,638,449 |
8,837,288,460 |
|
2006 |
274,949,827,496 |
69,356,465,697 |
4,252,053,340 |
|
2005 |
259,042,338,683 |
66,383,406,013 |
(-)1,061,234,522 |
|
2004 |
276,611,326,734 |
75,256,214,900 |
(-)3,842,871,671 |
Financial
Description
|
Authorized Capital(KRW) |
10,000,000,000 |
|
Paid-Up Capital(KRW) |
5,117,350,000 |
|
Total Issues Shares |
511,735 |
Balance
Sheet
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|||
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Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
244,547,833,041 |
187,734,039,789 |
141,070,013,464 |
|
Current Assets |
156,241,901,838 |
112,465,435,552 |
82,852,405,416 |
|
-Quick Assets |
110,305,694,963 |
73,976,480,006 |
47,678,049,276 |
|
-Inventories |
45,936,206,875 |
38,488,955,546 |
35,174,356,140 |
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Fixed Assets |
88,305,931,203 |
75,268,604,237 |
58,217,608,048 |
|
-Investment |
34,660,608,792 |
38,600,496,669 |
24,941,886,252 |
|
-Tangibles |
52,179,898,747 |
35,426,605,473 |
32,537,702,800 |
|
-Intangibles |
- |
2,428,567 |
6,641,884 |
|
-Others |
1,465,423,664 |
1,239,073,528 |
731,377,112 |
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Total Liabilities |
171,282,039,974 |
135,035,293,958 |
104,362,264,344 |
|
Current Liabilities |
151,148,666,941 |
129,586,191,355 |
98,309,337,195 |
|
Fixed Liabilities |
20,133,373,033 |
5,449,102,603 |
6,052,927,149 |
|
Capital Stock |
5,117,350,000 |
5,117,350,000 |
5,117,350,000 |
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Capital Surplus |
1,547,353,924 |
1,547,353,924 |
1,547,353,924 |
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Profit Surplus |
67,582,565,850 |
46,123,769,271 |
26,109,791,644 |
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Capital Adjustment |
-981,476,707 |
-89,727,364 |
3,933,253,552 |
|
Total Equity |
73,265,793,067 |
52,698,745,831 |
36,707,749,120 |
|
Liab. &
Shareholder’s Equity |
244,547,833,041 |
187,734,039,789 |
141,070,013,464 |
|
Current
Liabilities |
151,148,666,941 |
129,586,191,355 |
98,309,337,195 |
|
Trade Payables |
15,852,567,134 |
15,466,419,445 |
5,684,929,755 |
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Short-Term Borrowings |
116,200,768,146 |
97,964,422,474 |
77,045,106,720 |
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Account Payables |
5,369,669,401 |
2,737,231,991 |
3,453,215,309 |
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Advance Receipts |
206,209,494 |
3,746,989,518 |
3,406,128,867 |
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Withholdings |
363,746,356 |
285,319,916 |
198,960,946 |
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VAT Withhold |
7,388,101,026 |
2,896,342,213 |
646,066,021 |
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Accrued Expenses |
1,841,688,266 |
1,401,138,916 |
1,343,164,189 |
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Accrued Income Tax |
3,625,917,118 |
4,575,826,882 |
4,430,511,849 |
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Current Portion of Long-Term Debts |
300,000,000 |
512,500,000 |
2,101,253,539 |
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Fixed
Liabilities |
20,133,373,033 |
5,449,102,603 |
6,052,927,149 |
|
Long-Term Borrowings |
14,061,690,000 |
300,000,000 |
812,500,000 |
|
Convertible Bonds |
2,000,000,000 |
2,000,000,000 |
2,000,000,000 |
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Provision for Severance & Retirement |
4,213,384,162 |
3,461,945,638 |
3,413,925,888 |
Income
Statement
|
|||
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Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
899,623,334,137 |
619,672,729,870 |
622,146,981,552 |
|
Cost of Sold Goods |
858,240,232,954 |
573,912,938,244 |
588,853,408,996 |
|
Gross Profit |
41,383,101,183 |
45,759,791,626 |
33,293,572,556 |
|
Selling & Admin. Expenses |
9,238,511,488 |
9,404,370,405 |
9,272,156,983 |
|
Operating Income |
32,144,589,695 |
36,355,421,221 |
24,021,415,573 |
|
Non-Operating Income |
9,555,932,681 |
7,261,894,113 |
8,846,315,227 |
|
Non-Operating Expenses |
13,670,383,496 |
17,213,474,213 |
18,132,168,223 |
|
Income Before Taxes |
28,030,138,880 |
26,403,841,121 |
14,735,562,577 |
|
Income Taxes Expenses |
6,571,342,301 |
6,389,863,494 |
3,965,966,407 |
|
Net Income |
21,458,796,579 |
20,013,977,627 |
10,769,596,170 |
Cash
Flows
|
|||
|
Unit :
Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows
from Operating |
11,027,768,617 |
38,885,274,958 |
-11,366,539,366 |
|
-Net Income |
21,458,796,579 |
20,013,977,627 |
10,769,596,170 |
|
-Exp.
without Cash Outflow |
12,809,280,150 |
13,695,010,024 |
14,191,263,321 |
|
-Revenue
without Cash Inflows |
-4,725,482,529 |
-1,946,436,289 |
-1,910,217,146 |
|
-Changes in
Asset/ & Liability |
-18,514,825,583 |
7,122,723,596 |
-34,417,181,711 |
|
Cash Flows
from Investing |
-42,848,479,280 |
-46,428,461,725 |
-19,335,171,425 |
|
-Cash Inflow
from Investing |
5,453,626,290 |
27,354,944 |
1,497,686,444 |
|
-Cash
Outflows for Investing |
-48,302,105,570 |
-46,455,816,669 |
-20,832,857,869 |
|
Cash Flows
from Financing |
32,668,736,267 |
19,043,570,767 |
34,053,689,222 |
|
-Cash
Inflows from Financing |
33,181,236,267 |
21,144,824,306 |
35,818,177,601 |
|
-Cash
Outflows from Financing |
-512,500,000 |
-2,101,253,539 |
-1,764,488,379 |
|
Increase/Decrease
in Cash |
848,025,604 |
11,500,384,000 |
3,351,978,431 |
|
Cash at the
Beginning of Year |
15,767,424,249 |
4,267,040,249 |
915,061,818 |
|
Cash at the
End of Year |
16,615,449,853 |
15,767,424,249 |
4,267,040,249 |
Products, Technologies, Services Description
|
Main Products & Services |
OFHC Enamel Reck Wire PCW Special Lapping Wire CTC Magnet Round Wire Reels Spools |
Trade Partners & Competitors
|
Customers |
HYOSUNG CORPORATION(110111-0030497) SAM DONG OHIO, INC.(OHIO FACTORY) 801, PITTSBURGH DRIVE, DELAWARE, OHIO 43015
USA TEL:+1-740-363-1985 FAX:+1-740-363-8947 |
|
Competitors |
DAECHANG INDUSTRIAL CO., LTD. 4NA-506, SIHWA INDUSTRIAL COMPLEX, 1292-4,
JEONGWANG 1-DONG, SIHEUNG-SI, GYEONGGI-DO, KOREA TEL:+82-31-496-3000 FAX:+82-31-499-2538 TCT CORPORATION 1080, HWASAN-RI, ONSAN-EUP, ULJU-GUN,
ULSAN, KOREA TEL:+82-52-239-7001 FAX:+82-52-239-4235 PRIME GLOBAL CORPORATION RM. 301, BOKAP-DONG, DAEWOO BLDG., 167,
NAESU-DONG, JONGNO-GU, SEOUL, KOREA TEL:+82-2-725-7234 FAX:+82-2-722-4235 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Overseas Office |
SAM DONG, INC(TENNESSSEE FACTORY) (100.0% held by the subject company) 300 INDUSTRIAL PARK ROAD ROGERSVILLE
TENNESSEE 37857 USA TEL:+1-423-921-7373~4 FAX:+1-423-921-7446 SAM DONG OHIO, INC.(OHIO FACTORY) (100.0% held by the subject company) 801, PITTSBURGH DRIVE, DELAWARE, OHIO 43015
USA TEL:+1-740-363-1985 FAX:+1-740-363-8947 |
|
Subsidiary |
SAM DONG, INC(TENNESSSEE FACTORY) (100.0% held by the subject company) 300 INDUSTRIAL PARK ROAD ROGERSVILLE
TENNESSEE 37857 USA TEL:+1-423-921-7373~4 FAX:+1-423-921-7446 SAM DONG OHIO, INC.(OHIO FACTORY) (100.0% held by the subject company) 801, PITTSBURGH DRIVE, DELAWARE, OHIO 43015
USA TEL:+1-740-363-1985 FAX:+1-740-363-8947 |
|
Cooperative Enterprise |
-Insured Company MERITZ FIRE & MARINE INSURANCE CO., LTD.(110111-0013328) GREEN NON-LIFE INSURANCE CO., LTD.(110111-0007082) |
Sales by Region
(Activity & Markets)
|
Sales/ Unit : KRW |
2010 |
2009 |
2008 |
|
Export |
303,617,698,306 |
286,546,877,454 |
298,889,555,777 |
|
Domestic |
596,005,635,831 |
333,125,852,416 |
323,257,425,775 |
|
Total |
899,623,334,137 |
619,672,729,870 |
622,146,981,552 |
The Subject deals
with the companies in Germany and Japan. It exports to USA.
Court Action
No.
News Clipping
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.93 |
|
UK Pound |
1 |
Rs.76.52 |
|
Euro |
1 |
Rs.66.65 |
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.