MIRA INFORM REPORT
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Report Date : |
04.10.2011 |
IDENTIFICATION DETAILS
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Name : |
DONG JIN INTERNATIONAL CORP. |
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Formerly Known As : |
DONGJIN YEOMZIK CO., LTD. |
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Registered Office : |
2006-45, Bisan 7-dong, Seo-gu, Daegu,
Korea, Zip Code 703-825 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
29.12.1979 |
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Com. Reg. No.: |
503-81-05158 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Dyeing and Finishing of Woven and Knitted Fabrics |
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 : |
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 – March 31st, 2011
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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 |
DONG JIN
INTERNATIONAL CORP. (Korean Company
Name : “(주)동진상사”) |
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Registered Address |
2006-45, Bisan 7-dong, Seo-gu, Daegu,
Korea |
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Zip Code |
703-825 |
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Tel |
+82-53-358-7521 |
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Fax |
+82-53-352-5750 |
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E-mail |
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Website |
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Trading Address |
2006-45, Bisan 7-dong, Seo-gu, Daegu,
Korea |
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Tel |
+82-53-358-7521 |
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Fax |
+82-53-352-5750 |
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Other Address-Jillyang Factory |
1185-4, Sinsang 1-ri, Jillyang-eup,
Gyeongsan-si, Gyeongsangbuk-do, Korea |
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Tel |
+82-53-856-7777 |
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Fax |
+82-53-856-7775 |
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Type |
Export/Import |
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Industry |
Dyeing and Finishing of Woven and Knitted Fabrics |
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Main Business |
Nylon Fabrics, Polyester Fabrics, Oxford Fabrics, Dobby Fabrics |
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Established (mm/dd/yyyy) |
12/29/1979 |
The Subject owns
the premises of registered HQ address.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Synthetic fabrics(11161800) |
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Sell |
Fur dressing or dyeing services(73141709) |
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Buy |
Polyester thread(11151603) |
|
Buy |
Nylon thread(11151608) |
CEO’s
|
Name |
No Jung-Ja |
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Address |
Suite 105-1501, 179, Beomeo-dong,
Suseong-gu, Daegu, Korea |
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Date of Birth |
01/03/1944 |
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Title |
President & CEO |
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Sex |
Female |
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Nationality |
Korean |
Profiles
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Capital (KRW) |
600,000,000 |
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Employees |
141 |
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Formation |
Co., Ltd by Shares |
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Bank Details |
Industrial Bank of Korea-Daegu Central
Branch Korea Exchange Bank-Nowon Branch |
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Corporate Registered No. |
170111-0011106 |
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Business Registered No. |
503-81-05158 |
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Permit & Licenses |
09/22/2000 ISO 9002 Int’l Trade No.: 845818 |
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Shareholder Position |
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Company History |
12/29/1979 Incorporated as DONGJIN YEOMZIK
CO., LTD. 06/26/1996 Designated as a Promising SMEs 11/13/1996 Changed company name to the
present name |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
M/S. |
No Jung-Ja |
Female |
Korean |
12/08/2009 |
|
Director |
Mr. |
Cho Won-Joon |
Male |
Korean |
12/08/2009 |
|
Director |
Mr. |
Park Jong-Sik |
Male |
Korean |
12/08/2009 |
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Auditor |
M/S. |
Kim Yi-A |
Female |
Korean |
03/31/2010 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
52,375,515,108 |
34,725,068,454 |
805,336,689 |
|
|
2009 |
46,864,902,589 |
33,799,825,118 |
446,828,019 |
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2008 |
48,062,158,903 |
33,526,161,179 |
1,464,195,305 |
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2007 |
44,005,317,120 |
34,905,533,786 |
1,170,289,790 |
|
2006 |
45,003,082,116 |
35,129,937,556 |
484,366,455 |
Financial Description
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Authorized Capital(KRW) |
800,000,000 |
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Paid-Up Capital(KRW) |
600,000,000 |
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Total Issues Shares |
60,000 |
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 |
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Total Assets |
34,725,068,454 |
33,799,825,118 |
33,526,161,179 |
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Current Assets |
22,080,502,691 |
18,190,712,152 |
18,441,641,632 |
|
-Quick Assets |
13,261,410,773 |
12,052,652,621 |
10,403,843,087 |
|
-Inventories |
8,819,091,918 |
6,138,059,531 |
8,037,798,545 |
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Fixed Assets |
12,644,565,763 |
15,609,112,966 |
15,084,519,547 |
|
-Investment |
873,037,227 |
3,361,520,468 |
2,799,945,019 |
|
-Tangibles |
10,765,366,476 |
11,061,308,081 |
11,112,024,976 |
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-Intangibles |
14,650,000 |
12,496,667 |
26,076,667 |
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-Others |
991,512,060 |
1,173,787,750 |
1,146,472,885 |
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Total Liabilities |
18,373,291,873 |
18,249,882,226 |
18,635,578,176 |
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Current Liabilities |
17,241,569,361 |
16,955,163,938 |
16,753,372,280 |
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Fixed Liabilities |
1,131,722,512 |
1,294,718,288 |
1,882,205,896 |
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Capital Stock |
600,000,000 |
600,000,000 |
600,000,000 |
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Capital Surplus |
20,116,165 |
20,116,165 |
20,116,165 |
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Profit Surplus |
15,731,660,416 |
14,926,323,727 |
14,479,495,708 |
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Capital Adjustment |
- |
3,503,000 |
-209,028,870 |
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Total Equity |
16,351,776,581 |
15,549,942,892 |
14,890,583,003 |
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Liab. & Shareholder’s Equity |
34,725,068,454 |
33,799,825,118 |
33,526,161,179 |
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Current Liabilities |
17,241,569,361 |
16,955,163,938 |
16,753,372,280 |
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Trade Payables |
5,208,853,670 |
4,476,131,754 |
3,249,545,338 |
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Short-Term Borrowings |
10,600,000,000 |
9,800,000,000 |
11,251,500,000 |
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Account Payables |
1,009,834,231 |
1,796,727,341 |
759,070,810 |
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Advance Receipts |
33,346,087 |
95,305,597 |
56,883,805 |
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Withholdings |
8,687,330 |
14,821,840 |
16,952,730 |
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Accrued Expenses |
380,848,043 |
514,721,606 |
576,888,712 |
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Accrued Income Tax |
- |
- |
472,825,885 |
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Current Portion of Long-Term Debts |
- |
257,455,800 |
369,705,000 |
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Fixed Liabilities |
1,131,722,512 |
1,294,718,288 |
1,882,205,896 |
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Long-Term Borrowings-Foreign Currency |
- |
- |
277,278,750 |
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National Subsidies |
27,989,400 |
15,242,150 |
- |
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Leasehold Deposit Received |
929,700,000 |
929,700,000 |
1,236,700,000 |
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Provision for Severance &
Retirement |
447,872,470 |
413,611,040 |
440,649,100 |
Income
Statement
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Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
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Sales |
52,375,515,108 |
46,864,902,589 |
48,062,158,903 |
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Cost of Sold Goods |
46,530,006,260 |
37,219,399,022 |
38,740,371,960 |
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Gross Profit |
5,845,508,848 |
9,645,503,567 |
9,321,786,943 |
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Selling & Admin. Expenses |
3,820,815,599 |
3,608,888,687 |
3,295,419,923 |
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Operating Income |
2,024,693,249 |
6,036,614,880 |
6,026,367,020 |
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Non-Operating Income |
1,746,846,114 |
2,109,453,099 |
3,437,739,895 |
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Non-Operating Expenses |
2,966,202,674 |
7,699,239,960 |
7,500,227,045 |
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Income Before Taxes |
805,336,689 |
446,828,019 |
1,963,879,870 |
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Income Taxes Expenses |
- |
- |
499,684,565 |
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Net Income |
805,336,689 |
446,828,019 |
1,464,195,305 |
Cash
Flows
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Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
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Cash Flows from Operating |
-701,273,300 |
1,732,996,681 |
1,981,280,513 |
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-Net Income |
805,336,689 |
446,828,019 |
1,464,195,305 |
|
-Exp.
without Cash Outflow |
986,036,114 |
992,830,497 |
1,438,286,276 |
|
-Revenue
without Cash Inflows |
-106,713,457 |
-206,182,590 |
-84,229,860 |
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-Changes in
Asset/ & Liability |
-2,385,932,646 |
499,520,755 |
-836,971,208 |
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Cash Flows
from Investing |
1,094,145,643 |
-836,797,268 |
-511,946,228 |
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-Cash Inflow
from Investing |
4,607,482,208 |
6,305,281,936 |
5,766,026,817 |
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-Cash
Outflows for Investing |
-3,513,336,565 |
-7,142,079,204 |
-6,277,973,045 |
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Cash Flows
from Financing |
-203,814,700 |
-1,075,306,319 |
-1,466,128,752 |
|
-Cash
Inflows from Financing |
12,050,650,207 |
10,393,630,571 |
18,401,514,217 |
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-Cash
Outflows from Financing |
-12,254,464,907 |
-11,468,936,890 |
-19,867,642,969 |
|
Increase/Decrease
in Cash |
189,057,643 |
-179,106,906 |
3,205,533 |
|
Cash at the
Beginning of Year |
454,916,194 |
634,023,100 |
630,817,567 |
|
Cash at the End of Year |
643,973,837 |
454,916,194 |
634,023,100 |
Products, Technologies, Services Description
|
Main Products & Services |
Nylon Fabrics, Polyester Fabrics, Oxford Fabrics, Dobby Fabrics |
Trade Partners & Competitors
|
Suppliers |
KOLON CORPORATION(110111-0030528) HYOSUNG CORPORATION(110111-0030497) |
|
Competitors |
DO BEST CO., LTD. 105-112, GONGDEOK-DONG, MAPO-GU, SEOUL,
KOREA TEL:+82-2-3271-3800 FAX:+82-2-3271-3899 DREAM SEEKERS INC. RM. 2410, MASTERS TOWER BLDG., 553,
DOHWA-DONG, MAPO-GU, SEOUL, KOREA TEL:+82-2-3275-5111~2 FAX:+82-2-3275-5113 HANWOO CORPORATION 4TH FL., 322-21, HAENGDANG 2-DONG,
SEONGDONG-GU, SEOUL, KOREA TEL:+82-2-2299-9100~8 FAX:+82-2-2299-9109 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Subsidiary |
DONG JIN USA |
|
Cooperative Enterprise |
-Insured Company SAMSUNG FIRE & MARINE INSURANCE CO., LTD.(110111-0005078) AMERICAN HOME ASSURANCE CO., LTD. |
Sales by Region
(Activity & Markets)
Not Available.
Court Action
No.
News Clipping
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.42 |
|
UK Pound |
1 |
Rs.76.72 |
|
Euro |
1 |
Rs.65.85 |
RATING EXPLANATIONS
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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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.