MIRA INFORM REPORT
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Report Date : |
28.04.2012 |
IDENTIFICATION DETAILS
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Name : |
DAONE CHEMICAL CO., LTD. |
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Formerly Known As : |
GOKING KOREA CO., LTD. |
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Registered Office : |
1252-6, Jeongwang-dong, Siheung-si, |
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Country : |
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Financials (as on) : |
31.12.2008 |
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Date of Incorporation : |
11.12.1969 |
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Com. Reg. No.: |
133-81-23020 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Manufacture of Animal Medicaments |
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No. of Employees
: |
45 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment
Behaviour : |
Unknown |
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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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
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Company
Name |
DAONE CHEMICAL
CO., LTD. (Korean Company Name
: “(주)다원케미칼”) |
|
Registered Address |
1252-6, Jeongwang-dong, Siheung-si, |
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Building |
1Da-405, Sihwa Industrial Complex |
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Zip Code |
429-450 |
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Tel |
+82-31-498-0001 |
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Fax |
+82-31-498-6595 |
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E-mail |
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Website |
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Trading Address |
Rm. 401, Plaza 654 Bldg., 654-3,
Yeoksam-dong, Gangnam-gu, |
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Tel |
+82-2-564-8453 |
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Fax |
+82-2-563-6214 |
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Type |
Export/Import |
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Industry |
Manufacture of Animal Medicaments |
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Main Business |
Veterinary Medicine, Disinfectant, Feed Additive |
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Sub
Business |
Manufacture of Livestock Feeds and Prepared Animal Feeds |
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Established (mm/dd/yyyy) |
12/11/1969 |
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Activity |
Detailed Products (UNSPSC) |
|
Sell |
Veterinary products(42121600) |
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Sell |
Metabolites(51251000) |
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Sell |
Veterinary anthelmintics(51102500) |
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Sell |
Pesticides or pest repellents(10191500) |
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Sell |
Livestock feed(10121500) |
|
Sell |
Gastrointestinal veterinary
products(42121601) |
|
Sell |
Fish food(10121700) |
|
Sell |
Domestic pet treatments and accessories and
equipment(10111300) |
|
Name |
Lee Chan-Ho |
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Address |
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Date of Birth |
04/05/1964 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
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Capital (KRW) |
450,000,000 |
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Employees |
45 |
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Formation |
Co., Ltd by Shares |
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Bank Details |
Woori Bank Hana Bank SC First Bank of |
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Corporate Registered No. |
110111-0111065 |
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Business Registered No. |
133-81-23020 |
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Permit & Licenses |
N/A |
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Shareholder Position |
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Company History |
12/11/1969 Incorporated as GOKING KOREA
CO., LTD. 03/09/1999 Changed company name to the
present name 11/30/2002 Awarded US$ 1 Million Export Top
Prize |
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lee Chan-Ho |
Male |
Korean |
10/28/2011 |
|
Director |
M/S. |
Kang Jung-Sun |
Female |
Korean |
10/28/2011 |
|
Director |
Mr. |
Cho Won-Tak |
Male |
Korean |
10/28/2011 |
|
Auditor |
Mr. |
Park Joon-Sang |
Male |
Korean |
10/28/2011 |
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Year / Unit : KRW |
Sales |
Assets |
Net Income |
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|
|
|
|
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2009 |
|
|
|
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2008 |
22,761,338,546 |
9,506,400,388 |
293,048,983 |
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2007 |
18,065,769,102 |
7,865,270,145 |
497,190,445 |
|
2006 |
18,140,430,858 |
6,946,546,629 |
579,942,155 |
|
2005 |
16,296,556,531 |
7,930,463,828 |
530,444,343 |
The latest
financials are not available, and the Subject Company does not have any
obligations to release its financials to the public.
|
Authorized Capital(KRW) |
3,200,000,000 |
|
Paid-Up Capital(KRW) |
450,000,000 |
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Total Issued Shares |
90,000 |
Balance
Sheet
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|||
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Unit : Korean Won |
As of 12/31/2009 |
As of 12/31/2008 |
As of 12/31/2007 |
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Total Assets |
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9,506,400,388 |
7,865,270,145 |
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Current Assets |
|
7,827,349,293 |
5,873,969,909 |
|
-Quick Assets |
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5,166,012,092 |
3,575,772,872 |
|
-Inventories |
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2,661,337,201 |
2,298,197,037 |
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Fixed Assets |
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1,679,051,095 |
1,991,300,236 |
|
-Investment |
|
191,192,128 |
431,501,510 |
|
-Tangibles |
|
1,268,022,654 |
1,340,457,093 |
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-Intangibles |
|
7,622,583 |
9,853,583 |
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-Others |
|
212,213,730 |
209,488,050 |
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Total Liabilities |
|
6,354,023,765 |
4,532,355,582 |
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Current Liabilities |
|
5,988,263,761 |
4,263,266,155 |
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Fixed Liabilities |
|
365,760,004 |
269,089,427 |
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Capital Stock |
|
450,000,000 |
450,000,000 |
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Capital Surplus |
|
122,670,310 |
122,670,310 |
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Profit Surplus |
|
2,572,444,774 |
2,729,395,791 |
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Capital Adjustment |
|
7,261,539 |
30,848,462 |
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Total Equity |
|
3,152,376,623 |
3,332,914,563 |
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Liab. & Shareholder’s Equity |
|
9,506,400,388 |
7,865,270,145 |
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Current Liabilities |
|
5,988,263,761 |
4,263,266,155 |
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Trade Payables |
|
1,235,300,152 |
1,146,845,846 |
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Short-Term Borrowings |
|
4,552,914,695 |
2,667,887,856 |
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Account Payables |
|
27,468,309 |
23,960,596 |
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Accrued Expenses |
|
82,060,112 |
143,792,299 |
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Accrued Income Tax |
|
- |
88,412,830 |
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Advance Receipts |
|
22,970,802 |
27,900,350 |
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Withholdings |
|
67,549,691 |
164,466,378 |
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Fixed Liabilities |
|
365,760,004 |
269,089,427 |
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Long-Term Borrowings |
|
50,000,000 |
- |
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Provision for Severance & Retirement |
|
1,312,392,900 |
1,107,595,670 |
Income
Statement
|
|||
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Unit : Korean Won |
As of 12/31/2009 |
As of 12/31/2008 |
As of 12/31/2007 |
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Sales |
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22,761,338,546 |
18,065,769,102 |
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Cost of Sold Goods |
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18,502,161,816 |
14,302,692,551 |
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Gross Profit |
|
4,259,176,730 |
3,763,076,551 |
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Selling & Admin. Expenses |
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2,935,896,411 |
2,998,428,309 |
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Operating Income |
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1,323,280,319 |
764,648,242 |
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Non-Operating Income |
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583,041,668 |
252,647,176 |
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Non-Operating Expenses |
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1,600,962,004 |
358,879,573 |
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Income Before Taxes |
|
305,359,983 |
658,415,845 |
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Income Taxes Expenses |
|
12,311,000 |
161,225,400 |
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Net Income |
|
293,048,983 |
497,190,445 |
Cash
Flows
|
|||
|
Unit : Korean Won |
As of 12/31/2009 |
As of 12/31/2008 |
As of 12/31/2007 |
|
Cash Flows from Operating |
|
-557,786,628 |
-487,709,656 |
|
-Net Income |
|
293,048,983 |
497,190,445 |
|
-Exp.
without Cash Outflow |
|
446,184,685 |
550,365,497 |
|
- |
|
-38,962,121 |
-18,031,259 |
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-Changes in
Asset/ & Liability |
|
-1,258,058,175 |
-1,517,234,339 |
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Cash Flows
from Investing |
|
-202,759,948 |
-214,100,648 |
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-Cash Inflow
from Investing |
|
832,354,350 |
47,126,000 |
|
-Cash
Outflows for Investing |
|
-1,035,114,298 |
-261,226,648 |
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Cash Flows
from Financing |
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1,485,026,839 |
445,384,310 |
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-Cash
Inflows from Financing |
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22,007,018,438 |
19,839,859,079 |
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-Cash
Outflows from Financing |
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-20,521,991,599 |
-19,394,474,769 |
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Increase/Decrease
in Cash |
|
724,480,263 |
-256,425,994 |
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Cash at the
Beginning of Year |
|
18,518,026 |
274,944,020 |
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Cash at the
End of Year |
|
742,998,289 |
18,518,026 |
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Main Products & Services |
Veterinary Medicine, Disinfectant, Feed Additive |
|
Competitors |
BAYER KOREA LTD.(110111-0610596) DAESUNG MICROBIOLOGICAL LABS. CO.,
LTD.(134111-0000880) KOMIPHARM INTERNATIONAL CO.,
LTD.(110111-0134372) |
(Subsidiaries, Joint-Venture & Affiliates)
|
Cooperative |
-Insured Company DONGBU INSURANCE CO., LTD.(110111-0095285) |
(Activity & Markets)
The Subject deals
with the companies in
Not Available.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.68 |
|
|
1 |
Rs.85.12 |
|
Euro |
1 |
Rs.69.38 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
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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.