|
Report Date : |
17.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
DAEWON STEEL CO., LTD. |
|
|
|
|
Registered Office : |
2Na-705, Sihwa Industrial Complex 1259-5, Jeongwang 2-dong,
Siheung-si, Gyeonggi-do, Korea 429-922 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
21.09.1995 |
|
|
|
|
Com. Reg. No.: |
133-81-28122 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Manufacture of Cold Rolled, Drawn and Extruded Iron or Steel Products |
|
|
|
|
No. of Employees : |
68 |
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 September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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 |
DAEWON STEEL CO., LTD. (Korean Company Name : 대원스틸(주)) |
|
Registered Address |
1259-5, Jeongwang 2-dong, Siheung-si,
Gyeonggi-do, Korea |
|
Building |
2Na-705, Sihwa Industrial Complex |
|
Zip Code |
429-922 |
|
Tel |
+82-31-432-6521 |
|
Fax |
+82-31-497-5684 |
|
E-mail |
dwsteel@dwsteel.co.kr |
|
Website |
www.dwsteel.co.kr |
|
Trading Address |
2Na-705, Sihwa Industrial Complex, 1259-5,
Jeongwang 2-dong, Siheung-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-432-6521 |
|
Fax |
+82-31-497-5684 |
|
Other Address-Overseas Sales Dept. |
92, Da-dong, Jung-gu, Seoul, Korea |
|
Tel |
+82-2-316-7675 |
|
Fax |
+82-2-7770-5028 |
|
Type |
Export |
|
Industry |
Manufacture of Cold Rolled, Drawn and Extruded Iron or Steel Products |
|
Main
Business |
Cold Rolled, Carbon Steel |
|
Established (mm/dd/yyyy) |
09/21/1995 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Steel(11101704) |
|
Name |
Lee On-Young |
|
Address |
Suite 108-904, 944, Yongho-dong,
Nam-gu, Busan, Korea |
|
Date of Birth |
10/22/1949 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
26,319,000,000 |
||||||||||||||||||
|
Employees |
68 |
||||||||||||||||||
|
Formation |
Co., Ltd by shares A Company of DONGKUK INDUSTRIES COMPANY |
||||||||||||||||||
|
Bank Details |
Shinhan Bank Busan Bank Kookmin Bank |
||||||||||||||||||
|
Corporate Registered No. |
120111-0123711 |
||||||||||||||||||
|
Business Registered No. |
133-81-28122 |
||||||||||||||||||
|
Permit & Licenses |
06/10/1999 ISO 9001 12/2007 ISO/TS 16949 Intl Trade No.: 14030518 |
||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||
|
Company History |
09/21/1995 Incorporated as SHINWHA SPECIAL
STEEL CO., LTD. 09/06/2000 Started Corporate Clearing
Procedure by the approval from Suwon District Court 11/22001 Awarded US$5 Million Export Top
Prize 02/10/2004 Completed Corporate Clearing
Procedure by the approval from Suwon District Court 02/11/2004 Changed company name to the
present name 05/08/2006 Spin off par value to 1,000 KRW
from 5,000 KRW 09/2007 Designated as a Promising SME
Company 10/26/2007 Increased the authorized shares
to 100,000,000 shares from 20,000,000 shares 11/06/2007 Increased capital to 26,319,000,000
KRW from 10,000,000,000 KRW |
||||||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lee On-Young |
Male |
Korean |
04/01/2010 |
|
Director |
Mr. |
Yim Soon-Myung |
Male |
Korean |
09/01/2004 |
|
Director |
Mr. |
Jang Se-Hee |
Male |
Korean |
12/24/2003 |
|
Director |
Mr. |
Jung Hak-Geun |
Male |
Korean |
12/24/2009 |
|
Auditor |
Mr. |
Jeon Kyung-Doo |
Male |
Korean |
03/28/2011 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
78,674,930,195 |
90,389,659,135 |
6,146,924,767 |
|
|
2009 |
51,660,088,200 |
70,795,998,500 |
-7,257,291,878 |
|
2008 |
78,701,618,515 |
78,427,868,787 |
3,581,193,135 |
|
2007 |
44,957,945,842 |
62,630,787,260 |
210,953,451 |
|
2006 |
37,948,193,835 |
39,840,921,789 |
213,434,341 |
|
2005 |
36,161,998,184 |
37,809,286,101 |
1,614,451,564 |
|
2004 |
30,285,823,833 |
30,160,313,162 |
2,643,966,850 |
|
Authorized Capital(KRW) |
100,000,000,000 |
|
Paid-Up Capital(KRW) |
26,319,000,000 |
|
Total Issued Shares |
26,319,000 |
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
90,389,659,135 |
70,795,998,500 |
78,427,868,787 |
|
Current Assets |
38,097,874,428 |
29,244,242,353 |
33,219,750,683 |
|
-Quick Assets |
18,402,849,897 |
19,729,496,557 |
8,549,003,572 |
|
-Inventories |
19,695,024,531 |
9,514,745,796 |
24,670,747,111 |
|
Fixed Assets |
52,291,784,707 |
41,551,756,147 |
45,208,118,104 |
|
-Investment |
23,042,684,044 |
11,694,347,090 |
26,751,576,608 |
|
-Tangibles |
29,206,028,091 |
29,814,981,067 |
17,951,206,209 |
|
-Intangibles |
20,912,572 |
20,867,990 |
101,074,614 |
|
-Others |
22,160,000 |
21,560,000 |
404,260,673 |
|
Total Liabilities |
34,152,724,252 |
20,523,230,549 |
31,301,346,075 |
|
Current Liabilities |
25,740,406,551 |
19,407,362,147 |
23,776,417,153 |
|
Fixed Liabilities |
8,412,317,701 |
1,115,868,402 |
7,524,928,922 |
|
Capital Stock |
26,319,000,000 |
26,319,000,000 |
26,319,000,000 |
|
Capital Surplus |
13,981,895,487 |
13,981,895,487 |
13,981,895,487 |
|
Profit Surplus |
7,507,687,541 |
1,360,762,774 |
8,618,054,652 |
|
Capital Adjustment |
8,428,351,855 |
8,611,109,690 |
-1,792,427,427 |
|
Total Equity |
56,236,934,883 |
50,272,767,951 |
47,126,522,712 |
|
Liab. & Shareholders Equity |
90,389,659,135 |
70,795,998,500 |
78,427,868,787 |
|
Current
Liabilities |
25,740,406,551 |
19,407,362,147 |
23,776,417,153 |
|
Trade Payables |
12,505,620,069 |
8,836,551,986 |
6,069,984,665 |
|
Short-Term Borrowings |
11,000,000,000 |
2,500,000,000 |
16,000,000,000 |
|
Account Payables |
996,062,422 |
729,672,118 |
597,416,125 |
|
Advance Receipts |
106,057,133 |
39,077,484 |
56,361,977 |
|
Withholdings |
28,989,193 |
27,364,891 |
43,348,950 |
|
Accrued Expenses |
415,623,711 |
236,429,588 |
204,626,505 |
|
Accrued Income Tax |
636,814,599 |
- |
482,046,854 |
|
Guarantee Deposit Withhold |
18,904,880 |
27,666,080 |
27,666,080 |
|
Derivatives |
15,626,838 |
- |
294,965,997 |
|
Current Portion of Deferred Income Tax
Credit |
10,600,000 |
7,010,600,000 |
- |
|
Other Current Liabilities |
6,107,706 |
- |
- |
|
Fixed
Liabilities |
8,412,317,701 |
1,115,868,402 |
7,524,928,922 |
|
Long-Term Borrowings |
7,084,800,000 |
95,400,000 |
7,106,000,000 |
|
Long-Term Account
Payables |
48,000,000 |
24,000,000 |
- |
|
Leasehold Deposit Received |
90,000,000 |
75,000,000 |
- |
|
Provision for Severance & Retirement |
372,922,630 |
354,009,964 |
418,928,922 |
|
Deferred Income Tax Credit |
1,050,113,696 |
567,458,438 |
- |
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
78,674,930,195 |
51,660,088,200 |
78,701,618,515 |
|
Cost of Sold Goods |
66,484,789,375 |
52,672,449,095 |
68,360,836,167 |
|
Gross Profit |
12,190,140,820 |
-1,012,360,895 |
10,340,782,348 |
|
Selling & Admin. Expenses |
4,392,327,063 |
3,421,356,002 |
3,637,548,395 |
|
Operating Income |
7,797,813,757 |
-4,433,716,897 |
6,703,233,953 |
|
Non-Operating Income |
2,431,681,985 |
5,982,184,579 |
2,481,307,533 |
|
Non-Operating Expenses |
2,121,570,590 |
11,317,409,741 |
4,724,623,340 |
|
Income Before Taxes |
8,107,925,152 |
-9,768,942,059 |
4,459,918,146 |
|
Income Taxes Expenses |
1,961,000,385 |
-2,511,650,181 |
878,725,011 |
|
Net Income |
6,146,924,767 |
-7,257,291,878 |
3,581,193,135 |
|
Unit :
Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows from
Operating |
-1,618,773,991 |
8,945,345,068 |
-5,704,419,988 |
|
-Net Income |
6,146,924,767 |
-7,257,291,878 |
3,581,193,135 |
|
-Exp.
without Cash Outflow |
2,136,430,504 |
10,831,019,666 |
5,527,278,295 |
|
-Revenue
without Cash Inflows |
-1,757,230,045 |
-4,898,485,549 |
-1,103,174,603 |
|
-Changes in
Asset/ & Liability |
-8,144,899,217 |
10,270,102,829 |
-13,709,716,815 |
|
Cash Flows
from Investing |
-12,354,914,072 |
10,543,777,571 |
-30,084,979,242 |
|
-Cash Inflow
from Investing |
3,685,178,983 |
14,067,138,363 |
348,906,067 |
|
-Cash
Outflows for Investing |
-16,040,093,055 |
-3,523,360,792 |
-30,433,885,309 |
|
Cash Flows
from Financing |
8,504,400,000 |
-13,425,000,000 |
13,660,000,000 |
|
-Cash
Inflows from Financing |
41,790,000,000 |
40,916,000,000 |
37,010,000,000 |
|
-Cash
Outflows from Financing |
-33,285,600,000 |
-54,341,000,000 |
-23,350,000,000 |
|
Increase/Decrease
in Cash |
-5,469,288,063 |
6,064,122,639 |
-22,129,399,230 |
|
Cash at the
Beginning of Year |
8,053,472,755 |
1,989,350,116 |
24,118,749,346 |
|
Cash at the
End of Year |
2,584,184,692 |
8,053,472,755 |
1,989,350,116 |
|
Main Products & Services |
Cold Rolled Tool Steel Strip Cold Rolled Carbon Steel Strip Cold Rolled Alloy Steel Strip Cold Rolled Steel Strip Cold Rolled Spring Steel |
|
Competitors |
TS METAL CO., LTD. 2B-23L, BANWOL INDUSTRIAL COMPLEX, 391, MONGNAE-DONG,
DANWON-GU, ANSAN-SI, GYEONGGI-DO, KOREA TEL:+82-31-508-0740 FAX:+82-31-508-0743 DAEHAN STEEL CO., LTD. 370-16, SINPYEONG 1-DONG, SAHA-GU, BUSAN,
KOREA TEL:+82-51-220-3300 FAX:+82-51-220-3398 KOREA STEEL SHAPES CO., LTD. 727-3, HAKJANG-DONG, SASANG-GU, BUSAN,
KOREA TEL:+82-51-323-2611 FAX:+82-51-325-5713 |
(Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
DONGKUK INDUSTRIES COMPANY(110111-0085583) (3.1% held by the subject company) DK DONGSHIN CO., LTD.(110111-3850959) (33.33% held by the subject company) DONGKUK STRUCTURES & CONSTRUCTION
COMPANY LIMITED.(110111-2276784) CHOSUN STEELWIRE CO., LTD.(110111-0008486) HANRYO ENERGY DEVELOPMENT CO.,
LTD.(206211-0026796) SHINAN WIND POWER GENERATION CO.,
LTD.(201111-0023666) KODUCK WIND POWER GENERATION CO.,
LTD.(161311-0017432) DONGYEON S&T CO., LTD.(110111-3401059) CHUNG SEOK DEVELOPMENT CO.,
LTD.(115611-0003879) KUMHWA STEEL CO., LTD.(110111-0230386) DK WIND POWER GENERATION CO., LTD.(234111-0045158) NAMWON SOLAR POWER GENERATION CO.,
LTD.(211311-0005428) DK AMERICA., INC. |
|
Corporate Ownership |
DONGKUK INDUSTRIES COMPANY(110111-0085583) |
|
Cooperative Enterprise |
-Insured Company FIRST FIRE & MARINE INSURANCE CO., LTD.(110111-0017586) |
(Activity &
Markets)
The Subject exports
to China, Japan, Asia and Europe.
No.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.25 |
|
|
1 |
Rs.77.45 |
|
Euro |
1 |
Rs.64.89 |
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.