|
Report Date : |
08.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
S&T DYNAMICS CO., LTD. |
|
|
|
|
Formerly Known As : |
Tongil Heavy
Industries Co., Ltd. |
|
|
|
|
Registered Office : |
853-5, Oe-dong, Seongsan-gu, Changwon-si, Gyeongsangnam-do, Korea, Zip Code 642-020 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
31.08.1962 |
|
|
|
|
Com. Reg. No.: |
105-81-32752 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Parts and Accessories for Motor Engines |
|
|
|
|
No. of Employees : |
1,133 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
Payment Behaviour : |
Regular |
|
Litigation : |
Exists |
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) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Company
Name |
S&T DYNAMICS
CO., LTD. (Korean Company
Name : “S&T중공업(주)”) |
|
Registered Address |
853-5, Oe-dong, Seongsan-gu, Changwon-si,
Gyeongsangnam-do, Korea |
|
Zip Code |
642-020 |
|
Tel |
+82-55-280-5000 |
|
Fax |
+82-55-283-2579 |
|
E-mail |
|
|
Website |
|
|
Trading Address |
371-36,
Gasan-dong, Geumcheon-gu, Seoul, Korea |
|
Tel |
+82-2-3279-5000 |
|
Fax |
+82-2-702-5130 |
|
Other Address-2nd Factory |
83-2, Daewon-dong, Uichang-gu, Uichang-gu,
Changwon-si, Gyeongsangnam-do, Korea |
|
Tel |
+82-55-212-6300 |
|
Fax |
+82-55-273-3719 |
|
Other Address-3rd Factory |
83, Daewon-dong, Uichang-gu, Uichang-gu, Changwon-si,
Gyeongsangnam-do, Korea |
|
Tel |
+82-55-273-5710 |
|
Fax |
+82-55-273-5723 |
|
Type |
Export |
|
Industry |
Manufacture of Parts and Accessories for Motor Engines |
|
Main Business |
Axle, Transmission, Brake Pad, Brake Shoe Assembly, Brake Lining, Drum
Brake, Milling Machine, Hobbing Machine, CNC Lath, Machining Center |
|
Sub
Business |
Manufacture of Metal Cutting Machines |
|
Established (mm/dd/yyyy) |
08/31/1962 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Plate(30102200) |
|
Sell |
Drum brake shoes(25171712) |
|
Sell |
Brake lines(25171716) |
|
Sell |
Disc brake pads(25171713) |
|
Sell |
Braking systems and components(25171700) |
|
Sell |
Resins(13111000) |
|
Sell |
Automatic transmissions(25173813) |
|
Sell |
Drivetrain systems(25173800) |
|
Sell |
Axles(26111512) |
|
Sell |
Machine tools(23171600) |
|
Sell |
Mines(46111502) |
|
Sell |
Machine guns(46101501) |
|
Sell |
Lathes(23171606) |
|
Name |
Park Jae-Seok |
|
Address |
|
|
Date of Birth |
11/27/1959 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
83,683,597,500 |
|||||||||||||||||||||||||||
|
Employees |
1,133 |
|||||||||||||||||||||||||||
|
Formation |
Listed Company (Korea stock exchange : 003570) as of 07/08/1976 A Company of S&T Group |
|||||||||||||||||||||||||||
|
Bank Details |
Korea Development Bank SC First Bank of Korea-Mapo Branch |
|||||||||||||||||||||||||||
|
Corporate
Registered No. |
110111-0042880 |
|||||||||||||||||||||||||||
|
Business
Registered No. |
105-81-32752 |
|||||||||||||||||||||||||||
|
Permit & Licenses |
10/07/1995 ISO 9001 11/26/1998 QS 9000 04/03/2000 CE Mark 11/03/2005 ISO 9001 11/03/2005 ISO 14001 Int’l Trade No.: 801412 |
|||||||||||||||||||||||||||
|
Shareholder Position |
|
|||||||||||||||||||||||||||
|
Company History |
08/31/1962 Incorporated as Dongyang Gear
Industry Co., Ltd. 04/15/1967 Changed company name to Dongyang
Machinery Industry Co., Ltd. 02/1984 Changed company name to Tongil Co.,
Ltd. 04/1991 Changed company name to Seil Heavy
Industries Co., Ltd. 04/1995 Changed company name to Tongil
Heavy Industries Co., Ltd. 03/23/1999 Started the Corporate Reviving
Procedure 04/10/2003 Finished the Corporate Reviving
Procedure by Seoul District Court 06/2005 Changed company name to the present
name |
|||||||||||||||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
Chairman |
Mr. |
Choi Pyung-Kyu |
Korean |
09/05/1952 |
Kyunghee University, Korea |
|
President
& CEO |
Mr. |
Park Jae-Seok |
Korean |
11/27/1959 |
Yonsei University, Korea |
|
Director |
Mr. |
Kim Do-Hwan |
Korean |
02/07/1972 |
Sungkyunkwan University, Korea |
|
Auditor |
Mr. |
Cho Yong-Ho |
Korean |
1967.12.21 |
Seoul National University, Korea |
|
Outside
Director |
Mr. |
Kim In-Soo |
Korean |
09/08/1949 |
Harvard University, USA |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
128,603,452,912 |
915,955,218,287 |
9,800,679,451 |
|
|
(*)2011 |
611,097,269,967 |
927,780,345,632 |
54,082,684,870 |
|
(*)2010 |
554,126,721,882 |
873,107,361,742 |
52,620,652,277 |
|
2009 |
467,661,410,336 |
872,246,073,666 |
41,789,680,549 |
|
2008 |
435,012,986,525 |
757,187,526,844 |
32,057,651,884 |
(*)Figures are based
on the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
600,000,000,000 |
|
Paid-Up Capital(KRW) |
83,683,597,500 |
|
Total Issues Shares |
32,473,439 |
Balance
Sheet
|
|||
|
Unit : Korean
Won |
01/01/2012~03/31/2012 |
As of
12/31/2011 |
As of
12/31/2010 |
|
Total Assets |
915,955,218,287 |
927,780,345,632 |
873,107,361,742 |
|
Current Assets |
365,681,763,831 |
392,231,244,747 |
366,838,578,506 |
|
Cash & Cash
Equivalents |
79,605,847,184 |
110,502,071,861 |
116,728,707,934 |
|
Current Financial
Instruments |
0 |
50,000,000 |
100,000,000 |
|
Current Financial
Assets |
1,565,000 |
1,165,000 |
0 |
|
Trade Receivables
& Other Receivables |
136,360,843,918 |
154,224,108,156 |
134,437,749,895 |
|
Inventories |
122,762,405,737 |
104,460,020,783 |
106,812,644,205 |
|
Other Current Assets |
11,689,571,171 |
7,732,348,126 |
8,759,476,472 |
|
Non-Current Assets to be sold |
15,261,530,821 |
15,261,530,821 |
0 |
|
Non-Current Assets |
550,273,454,456 |
535,549,100,885 |
506,268,783,236 |
|
Non-Current Financial
Assets |
21,672,083,311 |
21,609,751,211 |
14,421,160,111 |
|
Long-Term Trade Receivables
& Other Receivables |
655,343,783 |
420,343,783 |
4,111,031,114 |
|
Investment_Related
Companies |
0 |
0 |
21,536,856,772 |
|
Investment_Subsidiaries |
60,054,976,946 |
45,540,797,046 |
20,400,745,867 |
|
Tangibles |
420,218,832,175 |
421,998,104,889 |
406,707,871,431 |
|
Intangibles |
20,075,156,326 |
18,323,687,029 |
11,343,292,219 |
|
Investment_Real
Estates |
27,574,000,415 |
27,633,355,427 |
27,724,764,222 |
|
Other Non-Current
Assets |
23,061,500 |
23,061,500 |
23,061,500 |
|
Total Liabilities |
280,164,608,367 |
289,675,342,191 |
260,320,001,529 |
|
Current Liabilities |
185,630,603,630 |
194,656,294,722 |
173,038,675,831 |
|
Trade Payables &
Other Payables |
153,260,152,934 |
156,516,884,855 |
114,967,199,146 |
|
Accrued Income Tax |
14,103,478,932 |
10,825,746,259 |
9,116,882,163 |
|
Derivatives |
0 |
0 |
443,467,565 |
|
Other Current
Liabilities |
18,266,971,764 |
27,313,663,608 |
48,511,126,957 |
|
Non-Current Liabilities |
94,534,004,737 |
95,019,047,469 |
87,281,325,698 |
|
Long-Term Trade
Payables & Other Payables |
4,265,490,953 |
4,245,573,612 |
3,710,553,144 |
|
Confirmed Salaries |
35,264,847,095 |
35,447,822,154 |
30,220,471,518 |
|
Deferred Income Tax
Credit |
55,003,666,689 |
55,325,651,703 |
53,350,301,036 |
|
Capital Stock |
83,683,597,500 |
83,683,597,500 |
83,683,597,500 |
|
Others |
2,130,933,619 |
2,075,399,391 |
13,698,618,558 |
|
Profit Surplus |
549,976,078,801 |
552,346,006,550 |
515,405,144,155 |
|
Total Equity |
635,790,609,920 |
638,105,003,441 |
612,787,360,213 |
|
Liab. & Shareholder’s Equity |
915,955,218,287 |
927,780,345,632 |
873,107,361,742 |
Income
Statement
|
|||
|
Unit : Korean Won |
01/01/2012~03/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Sales |
128,603,452,912 |
611,097,269,967 |
554,126,721,882 |
|
Cost
of Sold Goods |
110,918,080,115 |
522,469,626,413 |
465,916,727,726 |
|
Gross
Profit |
17,685,372,797 |
88,627,643,554 |
88,209,994,156 |
|
Selling
& Admin. Expenses |
5,930,987,551 |
26,714,103,731 |
23,851,266,022 |
|
Other
Operating Income |
1,104,875,049 |
12,156,674,096 |
6,459,802,463 |
|
Other
Operating Expenses |
403,557,571 |
3,056,944,464 |
2,518,176,457 |
|
Operating
Income |
12,455,702,724 |
71,013,269,455 |
68,300,354,140 |
|
Finance
Income |
907,095,595 |
6,321,529,648 |
5,116,576,833 |
|
Finance
Expenses |
512,836,271 |
1,524,482,665 |
3,636,128,256 |
|
Income
Before Taxes |
12,849,962,048 |
75,810,316,438 |
69,780,802,717 |
|
Income
Taxes Expenses |
3,049,282,597 |
21,727,631,568 |
17,160,150,440 |
|
Net
Income |
9,800,679,451 |
54,082,684,870 |
52,620,652,277 |
Cash
Flows
|
|||
|
Unit : Korean Won |
01/01/2012~03/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Operating
Activities Cash Flows |
5,643,178,925 |
69,391,463,179 |
32,857,697,408 |
|
Cash Flows from Operating |
8,531,697,219 |
81,730,746,719 |
43,411,299,211 |
|
Interests Received |
725,888,606 |
3,101,930,722 |
2,822,080,257 |
|
Interests Paid |
0 |
0 |
-438,772,599 |
|
Dividends Received |
388,656,500 |
353,540,400 |
0 |
|
Income Taxes |
-4,003,063,400 |
-15,794,754,662 |
-12,936,909,461 |
|
Cash
Flows from Investing |
3,392,919,626 |
-53,507,514,792 |
66,588,200,802 |
|
Cash
Flows from Financing |
-15,390,554,825 |
-21,890,525,850 |
-64,590,863,676 |
|
Increase/Decrease
in Cash |
-6,354,456,274 |
-6,006,577,463 |
34,855,034,534 |
|
Cash at
the Beginning of Year |
116,728,707,934 |
116,728,707,934 |
82,546,590,050 |
|
Cash at
the End of Year |
110,455,558,063 |
110,502,071,861 |
116,728,707,934 |
|
Main Products & Services |
Axle, Transmission, Brake Pad, Brake Shoe Assembly, Brake Lining, Drum
Brake, Milling Machine, Hobbing Machine, CNC Lath, Machining Center |
|
Customers |
MAN, VOLVO, OSHKOSH, ISUZU |
|
Competitors |
KOREA DELPHI
AUTOMOTIVE SYSTEMS CORP. 580-1,
BUK-RI, NONGONG-EUP, DALSEONG-GUN, DAEGU, KOREA TEL:+82-53-610-2000 FAX:+82-53-615-0786 PYUNG HWA
INDUSTRIAL CO., LTD. 29-17,
BONRI-RI, NONGONG-EUP, DALSEONG-GUN, DAEGU, KOREA TEL:+82-53-610-7000 FAX:+82-53-615-0566 DAEHEUNG R
& T CO., LTD. 607.
CHEONGCHEON-RI, JILLYE-MYEON, GIMHAE-SI, GYEONGSANGNAM-DO, KOREA TEL:+82-55-345-6391 FAX:+82-55-345-6398 |
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
S&T HOLDINGS CO., LTD.(124411-0002907) S&T DYNAMICS CO., LTD.(110111-0042880) S&T DAEWOO CO., LTD.(180111-0396069) S&T MOTORS CO., LTD.(160111-0007032) S&T MUTUAL SAVINGS BANK CO.,
LTD.(190111-0001096) HOTEL SORAKPARK(141311-0000316) S&T SOLUTION CO., LTD (194211-0068793) S&T ELECTRICS CO., LTD (170111-0038613) S&T ELECTRIC MACHINERY CO.,
LTD.(184511-0004694) HYOSUNG MOTORS AMERICA INC. S&T DAEWOO INDIA PRIVATE LTD. S&T AUTOMOTIVE MEXICO |
|
Overseas Office |
QINGDAO S&T DYNAMICS CO., LTD. (100.0% held by the subject company) BLOCK 1, QINGDAO ECONOMIC AND TECHNICAL DEVELOPMENT ZONE, QINGDAO,
CHINA TEL:+86-532-689-5459 FAX:+86-532-689-5460 SHIMYANG KEUMBAE TONGIL AUTOMOBILE PARTS CO., LTD.(심양금배통일차량부품유한공사) (51.00% held by the subject company) |
|
Subsidiary |
QINGDAO S&T DYNAMICS CO., LTD. (100.0% held by the subject company) BLOCK 1, QINGDAO ECONOMIC AND TECHNICAL
DEVELOPMENT ZONE, QINGDAO, CHINA TEL:+86-532-689-5459 FAX:+86-532-689-5460 S&T AMT CO., LTD.(190111-0013603) (100.0% held by the subject company) |
|
Corporate Ownership |
S&T HOLDINGS CO.,
LTD.(124411-0002907) |
|
Major Shareholders |
S&T HOLDINGS CO.,
LTD.(124411-0002907) |
|
Cooperative Enterprise |
-Insured company MERITZ FIRE & MARINE INSURANCE CO., LTD.(110111-0013328) LIG INSURANCE CO., LTD.(110111-0017859) |
(Activity & Markets)
|
Sales/ Unit :Mil KRW |
2010 |
2009 |
2008 |
|
Export |
87,688 |
74,601 |
68,018 |
|
Domestic |
466,439 |
393,060 |
366,995 |
|
Total |
554,127 |
467,661 |
435,013 |
The Subject exports
to Egypt and Germany.
|
Case No. |
Court |
Plaintiff(s)/
Creditor(s)/ Applicant(s) |
Defendant(s)/
Debtor(s)/ Respondent(s) |
Cause |
Amount (Million KRW) |
Status |
|
|
|
|
The Subject Company |
- |
30 |
Proceeding |
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.50 |
|
UK Pound |
1 |
Rs.86.40 |
|
Euro |
1 |
Rs.68.69 |
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 |
|
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.