|
Report Date : |
21.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
DOOWON STEEL CO., LTD. |
|
|
|
|
Registered Office : |
366-1, Taehwa-ri, Bongsan-myeon, Kimcheon-si,
Gyeongsangbuk-do, Korea 740-823 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
18.02.2003 |
|
|
|
|
Com. Reg. No.: |
510-81-13597 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Manufacture of Guilt, Coloration, Surface Processing Steel Materials |
|
|
|
|
No. of Employees : |
36 |
RATING & COMMENTS
|
MIRAs Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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 |
DOOWON STEEL CO., LTD. (Korean Company Name : 두원스틸(주)) |
|
Registered Address |
366-1, Taehwa-ri, Bongsan-myeon,
Kimcheon-si, Gyeongsangbuk-do, Korea |
|
Zip Code |
740-823 |
|
Tel |
+82-54-433-2860 |
|
Fax |
+82-54-433-2866 |
|
E-mail |
santada2@hanmail.net |
|
Website |
www.doowonsteel.com |
|
Trading Address |
366-1, Taehwa-ri, Bongsan-myeon,
Kimcheon-si, Gyeongsangbuk-do, Korea |
|
Tel |
+82-54-433-2860 |
|
Fax |
+82-54-433-2866 |
|
Type |
Export |
|
Industry |
Manufacture of Guilt, Coloration, Surface Processing Steel Materials |
|
Main Business |
Electrolytic Galvanized Iron(EGI), Electrolytic Galvanized Steels, EG
Coil |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
02/18/2003 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Steel plate(30102204) |
|
Name |
Jung Young-Chool |
|
Address |
Suite 108-502, 1090-6, Suseong-dong
4-ga, Suseong-gu, Daegu, Korea |
|
Date of Birth |
09/29/1959 |
|
Title |
Co-President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
6,000,000,000 |
|||||||||
|
Employees |
36 |
|||||||||
|
Formation |
Co., Ltd by Shares |
|||||||||
|
Bank Details |
Kookmin Bank Korea Exchange Bank Shinhan Bank |
|||||||||
|
Corporate Registered No. |
171311-0010913 |
|||||||||
|
Business Registered No. |
510-81-13597 |
|||||||||
|
Permit & Licenses |
05/14/2003 ISO 9001 05/09/2007 ISO 14001 |
|||||||||
|
Shareholder Position |
|
|||||||||
|
Company History |
11/05/2001 Established as DOOWON STEEL CO.(Sole Proprietorship) 02/18/2003 Incorporated as the present name 11/30/2004 Awarded US$ 10 Million Export
Top prize 11/01/2006 Designated as an INNO-BIZ
Company 12/22/2009 Increased the authorized shares
to 4,800,000 shares from 1,200,000 shares 12/23/2009 Increased capital to
6,000,000,000 KRW from 3,500,000,000 KRW 11/2010 Agreed with Financial Institutes
Creditors on Management Normalizing Plan |
|||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Co-President & CEO |
Mr. |
Jung Young-Chool |
Male |
Korean |
02/18/2006 |
|
Co-President & CEO |
Mr. |
Lee Dong-Yeol |
Male |
Korean |
03/02/2011 |
|
Director |
Mr. |
Jang Myung-Joong |
Male |
Korean |
02/18/2009 |
|
Auditor |
Mr. |
Yoon Hee-Sub |
Male |
Korean |
02/18/2006 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
70,223,890,751 |
86,875,434,028 |
-943,002,388 |
|
|
2009 |
46,643,512,459 |
79,354,749,406 |
-13,158,040,964 |
|
2008 |
113,615,257,048 |
75,145,232,879 |
-5,309,670,391 |
|
Authorized Capital(KRW) |
24,000,000,000 |
|
Paid-Up Capital(KRW) |
6,000,000,000 |
|
Total Issued Shares |
1,200,000 |
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
86,875,434,028 |
79,354,749,406 |
75,145,232,879 |
|
Current Assets |
11,336,232,975 |
13,040,070,532 |
17,898,703,015 |
|
-Quick Assets |
2,980,482,007 |
6,627,238,358 |
9,873,800,457 |
|
-Inventories |
8,355,750,968 |
6,412,832,174 |
8,024,902,558 |
|
Fixed Assets |
75,539,201,053 |
66,314,678,874 |
57,246,529,864 |
|
-Investment |
71,570,141,136 |
61,734,260,979 |
51,726,407,190 |
|
-Tangibles |
3,968,193,549 |
4,529,551,527 |
5,424,256,306 |
|
-Intangibles |
866,368 |
50,866,368 |
95,866,368 |
|
Total Liabilities |
74,717,553,051 |
66,796,963,224 |
47,603,063,476 |
|
Current Liabilities |
40,462,839,190 |
38,984,347,112 |
41,784,835,342 |
|
Fixed Liabilities |
34,254,713,861 |
27,812,616,112 |
5,818,228,134 |
|
Capital Stock |
6,000,000,000 |
6,000,000,000 |
3,500,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
-2,797,315,037 |
-1,854,312,649 |
11,303,728,315 |
|
Capital Adjustment |
8,955,196,014 |
8,412,098,831 |
12,738,441,088 |
|
Total Equity |
12,157,880,977 |
12,557,786,182 |
27,542,169,403 |
|
Liab. & Shareholders Equity |
86,875,434,028 |
79,354,749,406 |
75,145,232,879 |
|
Current Liabilities |
40,462,839,190 |
38,984,347,112 |
41,784,835,342 |
|
Trade Payables |
12,888,393,997 |
7,432,937,967 |
12,003,998,617 |
|
Short-Term Borrowings |
26,893,219,896 |
27,952,000,000 |
27,303,034,233 |
|
Account Payables |
515,432,988 |
872,210,313 |
618,860,263 |
|
Withholdings |
2,206,050 |
7,542,570 |
6,309,870 |
|
Advance Receipts |
- |
2,733,631 |
- |
|
Accrued Expenses |
163,586,259 |
208,672,631 |
228,325,695 |
|
Current Portion of Long-Term Debts |
- |
2,508,250,000 |
1,624,306,664 |
|
Fixed Liabilities |
34,254,713,861 |
27,812,616,112 |
5,818,228,134 |
|
Long-Term Borrowings |
34,254,713,861 |
27,741,867,550 |
4,099,110,000 |
|
Debentures |
- |
- |
1,650,000,000 |
|
Provision for Severance & Retirement |
246,600,729 |
391,209,519 |
372,685,448 |
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
70,223,890,751 |
46,643,512,459 |
113,615,257,048 |
|
Cost of Sold Goods |
66,920,246,905 |
43,055,129,738 |
93,102,379,638 |
|
Gross Profit |
3,303,643,846 |
3,588,382,721 |
20,512,877,410 |
|
Selling & Admin. Expenses |
2,625,977,896 |
2,527,715,805 |
6,087,296,521 |
|
Operating Income |
677,665,950 |
1,060,666,916 |
14,425,580,889 |
|
Non-Operating Income |
10,115,736,845 |
18,867,047,713 |
11,585,284,411 |
|
Non-Operating Expenses |
11,736,405,183 |
33,085,755,593 |
32,206,115,874 |
|
Income Before Taxes |
-943,002,388 |
-13,158,040,964 |
-6,195,250,574 |
|
Income Taxes Expenses |
- |
- |
-885,580,183 |
|
Net Income |
-943,002,388 |
-13,158,040,964 |
-5,309,670,391 |
|
Unit :
Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows
from Operating |
-4,662,068,744 |
-26,022,617,654 |
-5,739,967,038 |
|
-Net Income |
-943,002,388 |
-13,158,040,964 |
-5,309,670,391 |
|
-Exp.
without Cash Outflow |
700,104,991 |
1,151,950,298 |
1,241,928,360 |
|
-Revenue
without Cash Inflows |
-9,714,700,320 |
-14,703,465,426 |
-4,313,543,342 |
|
-Changes in
Asset/ & Liability |
5,295,528,973 |
686,938,438 |
2,641,318,335 |
|
Cash Flows
from Investing |
1,825,253,314 |
-53,179,332 |
-6,039,545,151 |
|
-Cash Inflow
from Investing |
1,982,411,405 |
219,007,031 |
3,070,858,201 |
|
-Cash
Outflows for Investing |
-157,158,091 |
-272,186,363 |
-9,110,403,352 |
|
Cash Flows
from Financing |
2,945,816,207 |
26,011,671,653 |
11,952,684,237 |
|
-Cash
Inflows from Financing |
4,772,561,700 |
27,894,200,767 |
14,921,144,233 |
|
-Cash
Outflows from Financing |
-1,826,745,493 |
-1,882,529,114 |
-2,968,459,996 |
|
Increase/Decrease
in Cash |
109,000,777 |
-64,125,333 |
173,172,048 |
|
Cash at the
Beginning of Year |
137,918,196 |
202,043,529 |
28,871,481 |
|
Cash at the
End of Year |
246,918,973 |
137,918,196 |
202,043,529 |
|
Main Products & Services |
Electrolytic Galvanized Iron(EGI), Electrolytic Galvanized Steels, EG
Coil |
|
Suppliers |
DONGBU STEEL CO., LTD.(110111-0393308) POSCO(174611-0000741) HYUNDAI HYSCO CO., LTD.(110111-0302416) |
|
Competitors |
KOSTEEL CO., LTD. 4TH FL., HOUSTORY, 32-4, JEONNONG 2-DONG,
DONGDAEMUN-GU, SEOUL, KOREA TEL:+82-2-2106-0200 FAX:+82-2-581-8800 JEIL TECHNOS CO., LTD. 1850, JANGHEUNG-DONG, NAM-GU, POHANG-SI,
GYEONGSANGBUK-DO, KOREA TEL:+82-54-278-2841~4 FAX:+82-54-278-2883 GUM SUNG INDUSTRIAL CO., LTD. 649-1, NAKSAN-RI, WAEGWAN-EUP, CHILGOK-GUN,
GYEONGSANGBUK-DO, KOREA TEL:+82-54-977-0047 FAX:+82-54-977-0049 |
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
JEONG AN STEEL CO.,
LTD.(170111-0038126) JEONG AN HI-TUBE CO., LTD.(170111-0006511) |
|
Subsidiary |
JEONG AN ASIA DEVELOPMENT CO., LTD.(VIETNAM) (100.00% held by the subject company) GWANZHOU DOOWON STEEL CO., LTD.(CHINA) (100.00% held by the subject company) |
|
Corporate Ownership |
JEONG AN STEEL CO.,
LTD.(170111-0038126) |
|
Major Shareholders |
JEONG AN STEEL CO.,
LTD.(170111-0038126) |
|
Cooperative Enterprise |
-Insured company LIG INSURANCE CO., LTD.(110111-0017859) |
(Activity &
Markets)
The Subject exports
to China and Singapore.
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.21 |
|
|
1 |
Rs.77.75 |
|
Euro |
1 |
Rs.64.58 |
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.