|
Report Date : |
18.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
DAIHAN INK CO., LTD. |
|
|
|
|
Registered Office : |
615, Bakdal 2-Dong, Manan-Gu, Anyang-Si, |
|
|
|
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Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
26.10.1998 |
|
|
|
|
Com. Reg. No.: |
123-81-46822 |
|
|
|
|
Legal Form : |
Co., Ltd by
shares |
|
|
|
|
Line of Business : |
Manufacture of Printing Ink |
|
|
|
|
No. of Employees : |
150 |
RATING & COMMENTS
|
MIRAs 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 March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Company Name |
DAIHAN INK CO., LTD. (Korean Company Name : 대한잉크(주)) |
|
Registered Address |
615, Bakdal 2-dong, Manan-gu, Anyang-si, |
|
Zip Code |
430-849 |
|
Tel |
+82-31-467-6321~3 |
|
Fax |
+82-31-443-4192 |
|
E-mail |
webmaster@daihanink.co.kr;kjlim@d-ink.co.kr;wsjung@d-ink.co.kr |
|
Website |
www.daihanink.com |
|
Trading Address |
615, Bakdal 2-dong, Manan-gu, Anyang-si, |
|
Tel |
+82-31-467-6321~3 |
|
Fax |
+82-31-443-4192 |
|
Other Address-Pyeongtaek Factory |
899, Eoyeon-ri, Cheongbuk-myeon,
Pyeongtaek-si, |
|
Tel |
+82-31-686-0205 |
|
Fax |
+82-31-686-7388 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Printing Ink |
|
Main Business |
Offset Ink, Gravure Ink |
|
Established (mm/dd/yyyy) |
10/26/1998 |
The Subject owns
the premises of Pyeongtaek Factory(23,200.4㎡).
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Printing and drawing inks(60121800) |
|
Buy |
Pigments(12171600) |
|
Buy |
Waxes(12181500) |
|
Buy |
Resins(13111000) |
|
Buy |
Ketones or quinones or its substitutes(12352115) |
|
Buy |
Alcohols or its substitutes(12352104) |
|
Buy |
Pigments(12171600) |
|
Buy |
Organic pigments(12171605) |
|
Buy |
Aromatic or heterocyclic compounds(12352005) |
|
Buy |
Organic derivatives and substituted compounds(12352100) |
|
Buy |
Phenolic resin(13111002) |
|
Name |
Han Jin-Soo |
|
Address |
Suyite 1601, 462-2, Dogok-dong,
Gangnam-gu, |
|
Date of Birth |
02/27/1957 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
4,428,550,000 |
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|
Employees |
150 |
|||||||||
|
Formation |
Co., Ltd by shares A Company of NOROO GROUP |
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Bank Details |
Korea Exchange Bank-Beomkye Station Branch Shinhan Bank Woori Bank Industrial Bank of |
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Corporate Registered No. |
134111-0062616 |
|||||||||
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Business Registered No. |
123-81-46822 |
|||||||||
|
Permit & Licenses |
07/12/2004 ISO 9001 11/2007 ISO 14001 Intl Trade No.: 11571397 |
|||||||||
|
Shareholder Position |
|
|||||||||
|
Company History |
10/1945 Founded as the Daihan Offset Printing
Ink Mfg., Co. producing 08/1952 Daihan Ink Manufacturing co.,
adopted as new company name 10/1953 Adopted the Deer mark as company
symbol 11/1955 Mullae-dong plant completed 01/1962 12/1971 Signed technology agreement with
Dainippon Ink & Chemical Inc(DIC) 04/1976 02/1989 Company name changed to Daihan
Paint and Ink Co., Ltd 04/1989 Branch office, DPI America Inc.
opened in the Chicago, 07/1993 Awarded the President Award Trophy
for Productivity 04/1994 Daihan Ink Co., Ltd. became
independent from D.P.I. 09/1996 Designated as Quality Assurance
company (Q mark) by Government office 10/26/1998
Incorporated as DAIHAN INK CHEMICAL CO., LTD. 11/01/1998
Acquired the Business Division of Printing Ink 02/2000 New R&D center open 11/2002 Acquired ISO 9001:2000 Certificate 07/01/2004 Changed company name to the
present name 01/24/2006 Increased capital to
4,428,550,000 KRW from 3,000,000,000 KRW 06/2006 Completed Pyeongtaek Factory |
|||||||||
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|
|
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Co-President & CEO |
Mr. |
Han Jin-Soo |
Male |
Korean |
10/26/2001 |
|
Co-President & CEO |
Mr. |
Ahn Hee-Seok |
Male |
Korean |
12/01/2010 |
|
Director |
Mr. |
Kwon Joo-Yeol |
Male |
Korean |
12/01/2010 |
|
Auditor |
Mr. |
Lee Deok-Tae |
Male |
Korean |
01/02/2007 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
63,846,785,375 |
63,954,811,183 |
1,520,896,811 |
|
|
(*)2010 |
59,541,455,284 |
64,209,802,808 |
657,593,257 |
|
2009 |
56,501,832,128 |
57,837,774,320 |
150,359,505 |
|
2008 |
60,682,859,914 |
58,631,327,902 |
344,279,550 |
|
2007 |
55,922,247,080 |
58,544,334,622 |
942,527,130 |
|
2006 |
56,284,023,251 |
59,346,325,842 |
898,722,395 |
|
2005 |
57,424,160,132 |
50,355,093,090 |
6,919,011,270 |
|
2004 |
60,622,183,136 |
38,893,352,959 |
2,396,371,887 |
(*)2010 and 2011s figures are
based on the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
15,000,000,000 |
|
Paid-Up Capital(KRW) |
4,428,550,000 |
|
Total Issued Shares |
885,710 |
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Total
Assets |
63,954,811,183 |
64,209,802,808 |
|
|
Current Assets |
32,926,877,249 |
32,323,983,876 |
|
|
Inventories |
8,040,580,289 |
8,157,624,243 |
|
|
Trade
Receivables & Other Receivables |
21,382,468,278 |
20,201,515,490 |
|
|
Cash
& Cash Equivalents |
2,886,313,570 |
2,810,924,570 |
|
|
Current
Financial Instruments |
510,000,000 |
930,000,000 |
|
|
Current
Non-Financial Instruments |
107,515,112 |
223,919,573 |
|
|
Non-Current Assets |
31,027,933,934 |
31,885,818,932 |
|
|
Tangibles |
21,086,224,493 |
22,884,905,932 |
|
|
Intangibles |
1,299,959,468 |
1,299,271,057 |
|
|
Investment_Related
Companies |
7,883,419,523 |
7,087,311,493 |
|
|
Non-Current
Financial Instruments |
408,195,540 |
264,195,540 |
|
|
Non-Current
Non-Financial Instruments |
350,134,910 |
350,134,910 |
|
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Total Liabilities |
26,295,569,386 |
28,029,302,814 |
|
|
Current Liabilities |
22,543,353,658 |
25,421,473,574 |
|
|
Trade
Payables & Other Payables |
12,718,335,276 |
13,490,725,846 |
|
|
Other
Current Financial Debts |
9,750,158,667 |
11,920,747,728 |
|
|
Accrued
Income Tax |
64,859,715 |
- |
|
|
Current
Non-Financial Debts |
10,000,000 |
10,000,000 |
|
|
Non-Current Liabilities |
3,752,215,728 |
2,607,829,240 |
|
|
Provision
for Severance & Retirement |
153,211,084 |
135,883,854 |
|
|
Non-Current
Financial Debts |
2,900,000,000 |
1,500,000,000 |
|
|
Deferred
Income Tax Credit |
699,004,644 |
971,945,386 |
|
|
Capital Stock |
4,428,550,000 |
4,428,550,000 |
|
|
Capital
Surplus |
8,562,781,090 |
8,562,781,090 |
|
|
Profit
Surplus |
24,854,404,601 |
23,333,507,790 |
|
|
Others |
-186,493,894 |
-144,338,886 |
|
|
Total
Equity |
37,659,241,797 |
36,180,499,994 |
|
|
Liab.
& Shareholders Equity |
63,954,811,183 |
64,209,802,808 |
|
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Sales |
63,846,785,375 |
59,541,455,284 |
|
|
Cost
of Sold Goods |
-55,371,885,717 |
-50,378,328,669 |
|
|
Gross
Profit |
8,474,899,658 |
9,163,126,615 |
|
|
Operating
Income |
-5,835,567,747 |
-7,943,441,098 |
|
|
Selling
& Admin. Expenses |
-7,190,384,357 |
-8,029,708,118 |
|
|
Other
Operating Income |
1,699,395,473 |
931,575,107 |
|
|
Other
Operating Expenses |
-344,578,863 |
-845,308,087 |
|
|
Operating
Income |
2,639,331,911 |
1,219,685,517 |
|
|
Non-Operating
Income |
-605,144,462 |
-530,001,741 |
|
|
Finance
Income |
81,482,337 |
103,440,477 |
|
|
Finance
Expenses |
-686,626,799 |
-633,442,218 |
|
|
Income
Before Taxes |
2,034,187,449 |
689,683,776 |
|
|
Income
Taxes Expenses |
-513,290,638 |
-32,090,519 |
|
|
Net
Income |
1,520,896,811 |
657,593,257 |
|
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Operating Activities Cash Flows |
1,000,062,510 |
1,225,839,581 |
|
|
Net
Income |
1,520,896,811 |
657,593,257 |
|
|
Adjustment |
-1,812,306,717 |
-1,963,276,348 |
|
|
Interests
Received |
112,322,976 |
85,178,395 |
|
|
Interests
Paid |
-767,908,061 |
-589,645,076 |
|
|
Income
Taxes |
-697,454,230 |
1,234,580 |
|
|
Cash
Flows from Investing |
-154,084,449 |
-2,729,687,129 |
|
|
Cash
Flows from Financing |
-770,589,061 |
1,147,499,135 |
|
|
Increase/Decrease
in Cash |
75,389,000 |
-356,348,413 |
|
|
Cash
at the Beginning of Year |
2,810,924,570 |
3,167,272,983 |
|
|
Cash
at the End of Year |
2,886,313,570 |
2,810,924,570 |
|
|
Main Products & Services |
Offset Sheet-Fed Inks Web Offset Printing Inks Ordinary Spot Colors Offset Ink Pantone Basic Colors Inks Fluorescent Ink Metal Decorating Inks UV(Ultra Violet) Ink & Coatings Metallic Gold & Silver Inks POP Ink Gravure & Flexo Printing Ink |
|
Suppliers |
NOROO PAINT & COATINGS CO., LTD.
(134111-0142575) SEDA CO., LTD. (110111-0032469) |
|
Customers |
NOROO PAINT & COATINGS CO., LTD.
(134111-0142575) DPI HOLDINGS CO., LTD. (134111-0002878) |
|
Competitors |
DONG YANG INK CO., LTD. 338-6, GAGOK-RI, JINWI-MYEON,
PYEONGTAEK-SI, TEL:+82-31-660-9210 FAX:+82-31-667-4877 KOREA PRINTING INK CO., LTD. 477-3, MONGNAE-DONG, DANWON-GU, ANSAN-SI, TEL:+82-31-494-7781 FAX:+82-31-491-0486 NAMYANG INK CO., LTD. 153-4, CHUNUI-DONG, WONMI-GU, BUCHEON-SI, TEL:+82-32-664-3970 FAX:+82-32-664-1473 |
(Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
SEDA CO., LTD. (110111-0032469) (50.0% held by the subject company) NOROO PAINT & COATINGS CO.,
LTD.(134111-0142575) DPI HOLDINGS CO., LTD.(134111-0002878) INTERNATIONAL PAINT ( DAC(134111-0048492) DAIHAN INK CO., LTD(110111-0117568) CK PAINT CO., LTD(135011-0031406) DAIHAN COIL COATING CO, LTD(171711-0039501) DAIHAN BEE CHEMICAL CO.,
LTD.(134111-0031083) DAEYEON(230111-0091353) DIGITAL IMAGING TECHNOLOGY CO.,
LTD.(134811-0112334) DPM BUILTONE CO., LTD. COLOR MATE CO., LTD. DIAMOND SPECIAL TRANSPORTATION CO., LTD. NOROO LOGIS CO., LTD. DRC CO., LTD. IZEN CO., LTD. DI( DPI HOLDINGS(H.K) CO.,LTD |
|
Subsidiary |
DAIHANINK AMERICA CORP. (100.0% held by the subject company) DAIHANINK CHINA CO., LTD. (51.0% held by the subject company) |
|
Cooperative |
-Insured Company DONGBU INSURANCE CO.,LTD.(110111-0095285) MERITZ FIRE & MARINE INSURANCE CO., LTD.(110111-0013328) |
(Activity & Markets)
The Subject deals with the companies in
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.62 |
|
|
1 |
Rs.81.94 |
|
Euro |
1 |
Rs.67.65 |
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 SCs 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.