|
Report Date : |
09.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
DONG IL CORPORATION |
|
|
|
|
Formerly Known As : |
DONG YANG CORPORATION |
|
|
|
|
Registered Office : |
944-1, Daechi 3-dong, Gangnam-gu, Seoul, Korea, 8th Fl., Jeong-heon Bldg., Zip Code 135-846 |
|
|
|
|
Country : |
South korea |
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
01.09.1955 |
|
|
|
|
Com. Reg. No.: |
120-81-14879 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacturer of Knitted Fabric Mills |
|
|
|
|
No. of Employees : |
586 |
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 : |
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) |
|
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 |
DONG IL
CORPORATION (Korean Company
Name : “동일방직(주)”) |
|
Registered Address |
944-1, Daechi 3-dong, Gangnam-gu, Seoul,
Korea |
|
Building |
8th Fl., Jeong-heon Bldg. |
|
Zip Code |
135-846 |
|
Tel |
+82-2-2222-3071 |
|
Fax |
+82-2-2222-3280 |
|
E-mail |
|
|
Website |
|
|
Trading Address |
8th Fl., Jeong-heon Bldg., 944-1, Daechi
3-dong, Gangnam-gu, Seoul, Korea |
|
Tel |
+82-2-2222-3071 |
|
Fax |
+82-2-2222-3280 |
|
Other Address-Cheonju Factory |
140-26,
Songjeong-dong, Heungdeok-gu, Cheongju-si, Chungcheongbuk-do, Korea |
|
Tel |
+82-43-263-0701 |
|
Fax |
+82-43-263-0704 |
|
Other Address-Incheon Factory |
37, Manseok-dong, Dong-gu, Incheon, Korea |
|
Tel |
+82-32-764-1531 |
|
Fax |
+82-32-764-2228 |
|
Other Address-Janghang Factory |
450-8,
Wonsu-ri, Janghang-eup, Seocheon-gun, Chungcheongnam-do, Korea |
|
Tel |
+82-41-956-6061 |
|
Fax |
+82-41-956-5181 |
|
Type |
Export/Import |
|
Industry |
Cotton of Spinning |
|
Main Business |
Cotton Yarn, Gassed Mercerized Yarn, Knitted Fabrics |
|
Sub
Business |
Manufacture of Knitted Fabric Mills |
|
Established (mm/dd/yyyy) |
09/01/1955 |
The Subject owns
the premises of registered HQ address, Cheonju Factory, Incheon Factory and
Janghang Factory.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Cotton fabrics(11161700) |
|
Sell |
Yarns(11151700) |
|
Sell |
Specialty fabrics or cloth(11162100) |
|
Sell |
Silk yarn(11151705) |
|
Sell |
Cotton thread(11151601) |
|
Sell |
Rubber fabrics(11162117) |
|
Sell |
Synthetic fabrics(11161800) |
|
Name |
Suh Min-Sok |
|
Date of Birth |
06/15/1943 |
|
Title |
Chairman & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
11,068,735,000 |
|||||||||||||||||||||||||||
|
Employees |
586 |
|||||||||||||||||||||||||||
|
Formation |
Listed Company (Korea Stock Exchange : 001530) as of 01/04/1964 A Company of DONG IL GROUP |
|||||||||||||||||||||||||||
|
Bank Details |
Shinhan Bank-Teheranro Branch Citibank, Korea Korea Exchange Bank |
|||||||||||||||||||||||||||
|
Corporate Registered No. |
110111-0019219 |
|||||||||||||||||||||||||||
|
Business Registered No. |
120-81-14879 |
|||||||||||||||||||||||||||
|
Permit & Licenses |
07/1964 KS Mark 12/1971 KS Mark Int’l Trade No.: 671714 |
|||||||||||||||||||||||||||
|
Shareholder Position |
|
|||||||||||||||||||||||||||
|
Company History |
09/01/1955 Incorporated as DONG YANG
CORPORATION 01/1966 Changed company name to the present
name 08/1986 Moved to the present HQ address |
|||||||||||||||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
Chairman & CEO |
Mr. |
Suh Min-Sok |
Korean |
1943.06.15. |
Seoul National University, Korea |
|
Sr. Executive Director & CEO |
Mr. |
Kim In-Hwan |
Korean |
1954.09.21. |
Inha University, Korea |
|
Executive Director |
Mr. |
Bang Duck-Man |
Korean |
1948.09.25. |
Kookmin University, Korea |
|
Executive Director |
Mr. |
Moon Ik |
Korean |
1951.10.24. |
Seogyung University, Korea |
|
Executive Director |
Mr. |
Seo Tae-Won |
Korean |
1974.09.06 |
Boston College, USA |
|
Executive Director |
Mr. |
You Chang-Ho |
Korean |
1963.06.01 |
Hanyang University, Korea |
|
Outside Director |
Mr. |
Jung Yeon-Jo |
Korean |
1936.05.11. |
Seoul National University, Korea |
|
Outside Director |
Mr. |
Shin Hong-Soon |
Korean |
1941.02.23. |
Yonsei University, Korea |
|
Outside Director |
Mr. |
Lee Sang-Ryeol |
Korean |
1946.12.18 |
Columbia University, USA |
|
Auditor |
Mr. |
Kim Ki-Po |
Korean |
1953.08.16. |
Dongkuk University, Korea |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
65,349,765,643 |
729,306,827,723 |
3,462,090,982 |
|
|
(*)2011 |
295,953,323,648 |
709,438,280,893 |
1,236,179,890 |
|
(*)2010 |
244,394,629,358 |
713,573,629,271 |
16,125,770,587 |
|
2009 |
171,817,444,152 |
380,929,243,871 |
5,208,862,754 |
|
2008 |
162,516,632,066 |
384,616,430,647 |
2,413,495,053 |
|
2007 |
133,981,732,455 |
375,985,401,534 |
2,239,537,345 |
|
2006 |
127,214,782,497 |
408,382,284,310 |
59,609,035,221 |
|
2005 |
141,201,770,436 |
331,077,514,318 |
5,872,926,198 |
|
2004 |
143,139,202,718 |
320,490,082,257 |
4,496,725,823 |
|
2003 |
161,409,690,559 |
349,264,971,376 |
11,349,956,057 |
(*)Figures are based
on the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
30,000,000,000 |
|
Paid-Up Capital(KRW) |
11,068,735,000 |
|
Total Issues Shares |
2,213,747 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
01/01/2012~03/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Total Assets |
729,306,827,723 |
709,438,280,893 |
713,573,629,271 |
|
Current Assets |
166,442,718,877 |
146,912,251,325 |
149,148,076,841 |
|
Cash & Cash
Equivalents |
4,878,212,941 |
2,995,914,119 |
6,153,874,601 |
|
Current Financial
Instruments |
10,393,606,012 |
20,282,984,112 |
22,290,854,680 |
|
Trade Receivables |
42,633,144,655 |
43,880,807,832 |
40,081,259,389 |
|
Other Receivables |
26,036,291,143 |
3,896,093,848 |
14,396,004,632 |
|
Inventories |
81,716,120,348 |
75,485,018,919 |
65,925,875,171 |
|
Other Current Assets |
785,343,778 |
371,432,495 |
300,208,368 |
|
Non-Current Assets |
562,864,108,846 |
562,526,029,568 |
564,425,552,430 |
|
Other Financial
Assets |
45,876,394,909 |
43,668,442,258 |
52,903,840,537 |
|
Investment_Related
Companies |
149,669,284,781 |
149,816,478,533 |
145,816,478,533 |
|
Tangibles |
358,348,370,944 |
359,855,528,821 |
356,381,699,697 |
|
Investment_Related
Companies |
2,391,892,410 |
2,396,067,630 |
2,412,768,510 |
|
Intangibles |
1,822,850,040 |
1,822,850,040 |
1,027,354,040 |
|
Long-Term Trade Receivables |
1,717,755,720 |
2,068,424,609 |
2,832,031,042 |
|
Other Receivables |
2,621,560,042 |
2,386,237,677 |
1,952,576,462 |
|
Other Non-Current
Assets |
416,000,000 |
512,000,000 |
1,098,803,609 |
|
Total
Liabilities |
238,537,054,795 |
221,042,222,787 |
211,693,165,747 |
|
Current Liabilities |
152,642,440,529 |
133,782,557,201 |
116,039,714,617 |
|
Trade Payables |
11,098,805,068 |
13,888,433,577 |
15,589,722,672 |
|
Other Current
Financial Debts |
133,522,369,938 |
114,888,583,035 |
91,836,346,052 |
|
Other Payables |
4,994,201,681 |
4,915,171,624 |
7,226,192,709 |
|
Accrued Income Tax |
0 |
0 |
1,084,311,151 |
|
Other Current
Liabilities |
3,027,063,842 |
90,368,965 |
303,142,033 |
|
Non-Current Liabilities |
85,894,614,266 |
87,259,665,586 |
95,653,451,130 |
|
Other Non-Current
Financial Debts |
13,594,710,245 |
15,454,930,683 |
21,636,017,067 |
|
Provision for
Severance & Retirement |
1,699,464,919 |
1,448,257,475 |
1,035,571,063 |
|
Deferred Income Tax
Credit |
67,137,427,802 |
66,934,448,128 |
69,648,669,600 |
|
Other Payables |
3,463,011,300 |
3,422,029,300 |
3,333,193,400 |
|
Capital Stock |
11,068,735,000 |
11,068,735,000 |
11,068,735,000 |
|
Others |
-18,885,449,300 |
-20,325,372,641 |
-10,381,818,579 |
|
Profit Surplus |
498,586,487,228 |
497,652,695,747 |
501,193,547,103 |
|
Total Equity |
490,769,772,928 |
488,396,058,106 |
501,880,463,524 |
|
Liab. &
Shareholder’s Equity |
729,306,827,723 |
709,438,280,893 |
713,573,629,271 |
Income
Statement
|
|||
|
Unit : Korean Won |
01/01/2012~03/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Sales |
65,349,765,643 |
295,953,323,648 |
244,394,629,358 |
|
Cost of Sold Goods |
68,445,244,737 |
284,747,925,487 |
218,583,045,441 |
|
Gross Profit |
-3,095,479,094 |
11,205,398,161 |
25,811,583,917 |
|
Selling & Admin.
Expenses |
2,502,166,871 |
10,697,860,945 |
9,143,397,904 |
|
Operating Income |
-5,597,645,965 |
507,537,216 |
16,668,186,013 |
|
Finance Income |
14,374,571,332 |
14,444,508,896 |
13,409,683,740 |
|
Finance Expenses |
2,631,779,457 |
12,730,273,354 |
8,023,856,243 |
|
Other Operating
Income |
175,117,180 |
1,107,621,222 |
1,132,289,352 |
|
Other Operating
Expenses |
3,267,650,741 |
2,511,397,306 |
3,614,545,347 |
|
Income Before Taxes |
3,052,612,349 |
817,996,674 |
19,571,757,515 |
|
Income Taxes Expenses |
-409,478,633 |
418,183,216 |
3,445,986,928 |
|
Net Income |
3,462,090,982 |
1,236,179,890 |
16,125,770,587 |
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 |
-19,951,613,186 |
-1,259,746,966 |
-16,593,024,099 |
|
Net Income |
3,462,090,982 |
1,236,179,890 |
16,125,770,587 |
|
Adjustment |
-34,699,611,048 |
-1,103,027,734 |
-36,624,169,821 |
|
Interests Received |
492,854,953 |
1,046,750,494 |
1,284,707,020 |
|
Interests Paid |
-1,012,552,943 |
-2,802,877,009 |
-1,816,365,127 |
|
Dividends Received |
12,160,642,040 |
4,114,008,889 |
5,813,129,410 |
|
Income Taxes |
-355,037,170 |
-3,750,781,496 |
-1,376,096,168 |
|
Cash Flows from
Investing |
5,559,548,340 |
-7,358,952,394 |
-26,879,781,130 |
|
Cash Flows from
Financing |
16,350,642,905 |
5,460,949,611 |
41,964,214,044 |
|
Increase/Decrease in
Cash |
1,958,578,059 |
-3,157,749,749 |
-1,508,591,185 |
|
Cash at the Beginning
of Year |
2,995,914,119 |
6,153,874,601 |
7,664,214,580 |
|
Cash at the End of
Year |
4,878,212,941 |
2,995,914,119 |
6,153,874,601 |
|
Main Products & Services |
Greige Yarn Dyed Yarn Woven Fabric Knitted Fabric |
|
Competitors |
ILSHIN SPINNING CO., LTD.(110111-0041717) ILSHIN BLDG., 15-15, YEOUIDO-DONG,
YEONGDEUNGPO-GU, SEOUL, KOREA TEL:+82-2-3774-0114 FAX:+82-2-786-5891~3 CHONBANG CO.,LTD.(110111-0005664) 12TH FI., CHUNGJEONG TOWER BLDG., 464,
CHUNGJEONGNO 3-GA, SEODAEMUN-GU, SEOUL, KOREA TEL:+82-2-2122-6000 FAX:+82-2-392-3923 KYUNGBANG CO., LTD.(110111-0013287) 441-10, YEONGDEUNGPODONG 4-GA,
YEONGDEUNGPO-GU, SEOUL, KOREA TEL:+82-2-2639-6114 FAX:+82-2-2639-6079 |
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates-Domestic |
DONG-IL INDUSTRIAL CO.,
LTD.(130111-0006973) (99.64% held by the subject company) DONG IL RENOWN INC.(120111-0002444) (85.71% held by the subject company) DONG-IL ALUMNIUM CO., LTD.(161511-0005350) (90.23% held by the subject company) DONG-IL Y&K INC.(110111-0090384) (72.68% held by the subject company) DONG-IL DEVANLAY INC.(110111-1973604) (50.0% held by the subject company) DI BIZ CO., LTD.(110111-0584858) (2.0% held by the subject company) |
|
Affiliates-Overseas |
PT DONG-IL INDONESIA (75.0% held by the subject company) DIB-EGYPT (96.0% held by the subject company) QINGDAO DONG-IL CO., LTD.-CHINA DIA ALUMINUM INDIA PVT. LTD |
|
Subsidiary |
DONG-IL INDUSTRIAL CO.,
LTD.(130111-0006973) (99.64% held by the subject company) DONG IL RENOWN INC.(120111-0002444) (85.71% held by the subject company) DONG-IL ALUMNIUM CO., LTD.(161511-0005350) (90.23% held by the subject company) DONG-IL Y&K INC.(110111-0090384) (72.68% held by the subject company) DONG-IL DEVANLAY INC.(110111-1973604) (50.0% held by the subject company) PT DONG-IL INDONESIA (75.0% held by the subject company) DIB-EGYPT (96.0% held by the subject company) |
|
Cooperative Enterprise |
-Insured Company MERITZ FIRE & MARINE INSURANCE CO., LTD.(110111-0013328) |
(Activity & Markets)
|
Sales/ Unit :Mil KRW |
03/2012 |
2011 |
2010 |
|
Export |
38,312 |
182,345 |
146,855 |
|
Domestic |
27,038 |
113,608 |
97,540 |
|
Total |
65,350 |
295,953 |
244,395 |
The Subject Company
exports the dyed yarn and functional yarn to Asia, Europe and USA. And it
imports from USA, Egypt, Australia, China, Pakistan and Uzbekistan.
No.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.15 |
|
UK Pound |
1 |
Rs.86.00 |
|
Euro |
1 |
Rs.68.31 |
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.