MIRA
INFORM REPORT
|
Report Date : |
27.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
DONG YANG S-TEC CO., LTD. |
|
|
|
|
Registered Office : |
4th Fl., Dongyang Bldg. 40-2, Eunhaeng-dong, Jung-gu, Daejeon, Korea
301-839 |
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|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
30.09.2011 |
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|
|
|
Date of Incorporation : |
12.11.1981 |
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|
|
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Com. Reg. No.: |
306-81-03597 |
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|
|
|
Legal Form : |
Listed Company |
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|
|
|
Line of Business : |
Manufacture of Hot Rolled, Drawn and Extruded Iron or Steel Products |
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|
|
|
No. of Employees : |
73 |
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 : |
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 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 |
Basic Information
|
Company
Name |
DONG YANG S-TEC CO., LTD. (Korean Company Name : (주)동양에스텍) |
|
Registered Address |
40-2, Eunhaeng-dong, Jung-gu, Daejeon,
Korea |
|
Building |
4th Fl., Dongyang Bldg. |
|
Zip Code |
301-839 |
|
Tel |
+82-42-221-6900 |
|
Fax |
+82-42-221-6023 |
|
E-mail |
dystec@hanmail.net |
|
Website |
www.dystec.co.kr |
|
Trading Address |
4th Fl., Dongyang Bldg., 40-2,
Eunhaeng-dong, Jung-gu, Daejeon, Korea |
|
Tel |
+82-42-221-6900 |
|
Fax |
+82-42-221-6023 |
|
Other Address-Seoul Office |
4FL., Segun Bldg., 52, Onsu-dong,
Guro-gu, Seoul, Korea |
|
Tel |
+82-2-2619-1611 |
|
Fax |
+82-2-2619-1615 |
|
Other Address-Factory |
619-9, Mundeok 1-ri, Ocheon-eup, Nam-gu,
Pohang-si, Gyeongsangbuk-do, Korea |
|
Tel |
+82-54-292-6181~4 |
|
Fax |
+82-54-291-6548 |
|
Type |
Services |
|
Industry |
Manufacture of Hot Rolled, Drawn and Extruded Iron or Steel Products |
|
Main Business |
Channle, Section Steel |
|
Established (mm/dd/yyyy) |
11/12/1981 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Sheet(30102500) |
|
Sell |
Steel plate(30102204) |
CEOs
|
Name |
Cho Eun-Koo |
|
Address |
|
|
Date of Birth |
08/01/1944 |
|
Title |
Co-President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
5,000,000,000 |
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|
Employees |
73 |
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|
Formation |
Listed Company (KOSDAQ : 060380) as of 02/05/2002 |
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|
Bank Details |
Citibank Industrial Bank of Korea |
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Corporate Registered No. |
160111-0004426 |
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Business Registered No. |
306-81-03597 |
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Permit & Licenses |
11/04/2004 ISO 9001 11/04/2004 ISO 9001 11/12/2007 ISO 9001 |
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Shareholder Position |
|
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Company History |
11/12/1981 Incorporated as DONG YANG STEEL & TECHNOLOGY CO., LTD. 04/27/2001 Changed company name to the
present name |
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|
|
Management
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
Co-President & CEO |
Mr. |
Cho Eun-Koo |
Korean |
1944.08.01 |
Dongkuk University, Korea |
|
Co-President & CEO |
Mr. |
Park Jung-Min |
Korean |
1944.03.12 |
Busan National University, Korea |
|
Outside Director |
Mr. |
Lee Dong-Keun |
Korean |
1940.12.20 |
Dongkuk University, Korea |
|
Auditor |
Mr. |
Lee Dong-Choon |
Korean |
1940.02.15 |
Seoul National University, Korea |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
150,922,907,736 |
136,891,515,634 |
1,650,425,601 |
|
|
2010 |
180,156,438,177 |
110,620,368,251 |
2,566,720,180 |
|
2009 |
179,948,051,671 |
91,515,042,423 |
342,826,962 |
|
2008 |
268,978,402,260 |
104,681,689,578 |
12,060,956,389 |
(*)09/2011 s figures are based on the K-IFRS Accounting System.
Financial Description
|
Authorized Capital(KRW) |
25,000,000,000 |
|
Paid-Up Capital(KRW) |
5,000,000,000 |
|
Total Issued Shares |
10,000,000 |
Balance
Sheet
|
Unit :
Korean Won |
01/01/2011~09/30/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Total
Assets |
136,891,515,634 |
127,672,467,875 |
|
|
Current Assets |
88,291,249,914 |
75,277,135,172 |
|
|
Cash
& Cash Equivalents |
1,474,079,704 |
1,042,799,020 |
|
|
Current
Financial Instruments |
632,200,000 |
457,500,000 |
|
|
Held-to-Maturity
Financial Assets |
4,010,000 |
3,825,000 |
|
|
Trade
Receivables |
53,669,994,023 |
50,833,624,801 |
|
|
Other
Receivables |
1,674,285,053 |
1,269,200,378 |
|
|
Inventories |
30,469,702,707 |
21,418,216,537 |
|
|
Other
Current Assets |
366,978,427 |
251,969,436 |
|
|
Non-Current Assets |
48,600,265,720 |
52,395,332,703 |
|
|
Non-Current
Financial Instruments |
555,764,998 |
236,239,202 |
|
|
Held-to-Maturity
Financial Assets |
103,295,000 |
105,585,000 |
|
|
Marketable
Financial Instruments |
25,049,843,750 |
30,726,591,050 |
|
|
Investment_Subsidiaries |
2,725,640,198 |
2,725,640,198 |
|
|
Tangibles |
17,462,203,133 |
16,983,624,109 |
|
|
Intangibles |
1,131,225,269 |
1,131,225,269 |
|
|
Deferred
Income Tax Assets |
1,418,540,772 |
256,267,511 |
|
|
Other
Non-Current Assets |
153,752,600 |
230,160,364 |
|
|
Total Liabilities |
80,271,200,021 |
66,307,214,921 |
|
|
Current Liabilities |
79,256,026,021 |
65,397,098,921 |
|
|
Trade Payables |
17,835,034,207 |
12,686,526,372 |
|
|
Other Payables |
1,669,661,598 |
2,056,932,567 |
|
|
Short-Term
Borrowings |
58,469,745,728 |
49,636,541,860 |
|
|
Other
Current Liabilities |
1,281,584,488 |
1,017,098,122 |
|
|
Non-Current Liabilities |
1,015,174,000 |
910,116,000 |
|
|
Long-Term
Borrowings |
375,174,000 |
250,116,000 |
|
|
Other
Non-Current Debts |
640,000,000 |
660,000,000 |
|
|
Capital Stock |
5,000,000,000 |
5,000,000,000 |
|
|
Capital
Surplus |
6,009,253,939 |
6,009,253,939 |
|
|
Others |
-249,636,220 |
-249,636,220 |
|
|
Installments |
-815,613,646 |
4,589,749,296 |
|
|
Profit
Surplus |
46,676,311,540 |
46,015,885,939 |
|
|
Total
Equity |
56,620,315,613 |
61,365,252,954 |
|
|
Liab.
& Shareholders Equity |
136,891,515,634 |
127,672,467,875 |
|
Balance
Sheet
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
110,620,368,251 |
91,515,042,423 |
104,681,689,578 |
|
Current Assets |
58,433,604,367 |
45,381,899,921 |
61,569,253,047 |
|
-Quick Assets |
37,015,387,830 |
29,693,552,748 |
28,268,039,846 |
|
-Inventories |
21,418,216,537 |
15,688,347,173 |
33,301,213,201 |
|
Fixed Assets |
52,186,763,884 |
46,133,142,502 |
43,112,436,531 |
|
-Investment |
34,080,746,260 |
29,442,756,802 |
26,002,058,816 |
|
-Tangibles |
16,744,631,991 |
16,203,282,231 |
16,691,590,246 |
|
-Intangibles |
1,361,385,633 |
487,103,469 |
418,787,469 |
|
Total Liabilities |
49,282,788,769 |
27,029,561,701 |
45,512,179,377 |
|
Current Liabilities |
47,078,903,067 |
23,609,604,993 |
43,776,320,682 |
|
Fixed Liabilities |
2,203,885,702 |
3,419,956,708 |
1,735,858,695 |
|
Capital Stock |
5,000,000,000 |
5,000,000,000 |
5,000,000,000 |
|
Capital Surplus |
6,009,253,939 |
6,009,253,939 |
6,009,253,939 |
|
Profit Surplus |
45,990,960,095 |
44,414,239,915 |
45,061,412,953 |
|
Capital Adjustment |
4,337,365,448 |
9,061,986,868 |
3,098,843,309 |
|
Total Equity |
61,337,579,482 |
64,485,480,722 |
59,169,510,201 |
|
Liab. & Shareholders Equity |
110,620,368,251 |
91,515,042,423 |
104,681,689,578 |
Income
Statement
|
Unit : Korean Won |
01/01/2011~09/30/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Sales |
150,922,907,736 |
|
|
|
Cost of Sold Goods |
141,440,074,655 |
|
|
|
Gross Profit |
9,482,833,081 |
|
|
|
Selling & Admin. Expenses |
5,686,168,209 |
|
|
|
Other Operating Income |
853,895,758 |
|
|
|
Other Operating Expenses |
903,049,381 |
|
|
|
Operating Income |
3,747,511,249 |
|
|
|
Finance Income |
868,101,228 |
|
|
|
Finance Expenses |
2,471,323,519 |
|
|
|
Income Before Taxes |
2,144,288,958 |
|
|
|
Income Taxes Expenses |
493,863,357 |
|
|
|
Net Income |
1,650,425,601 |
|
|
Income
Statement
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
180,156,438,177 |
179,948,051,671 |
268,978,402,260 |
|
Cost of Sold Goods |
170,038,725,267 |
175,142,265,457 |
239,418,604,508 |
|
Gross Profit |
10,117,712,910 |
4,805,786,214 |
29,559,797,752 |
|
Selling & Admin. Expenses |
7,460,184,991 |
7,460,392,918 |
8,783,351,312 |
|
Operating Income |
2,657,527,919 |
-2,654,606,704 |
20,776,446,440 |
|
Non-Operating Income |
2,599,604,917 |
7,760,775,187 |
1,878,092,151 |
|
Non-Operating Expenses |
2,023,248,599 |
4,779,878,092 |
6,205,845,901 |
|
Income Before Taxes |
3,233,884,237 |
326,290,391 |
16,448,692,690 |
|
Income Taxes Expenses |
667,164,057 |
-16,536,571 |
4,387,736,301 |
|
Net Income |
2,566,720,180 |
342,826,962 |
12,060,956,389 |
Cash
Flows
|
Unit : Korean Won |
01/01/2011~09/30/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Operating Activities Cash Flows |
-3,368,174,479 |
|
|
|
Net Income |
1,650,425,601 |
|
|
|
Adjustment |
-3,682,734,906 |
|
|
|
Income Taxes |
-238,292,350 |
|
|
|
Interests Received |
81,913,482 |
|
|
|
Interests Paid |
-1,873,907,806 |
|
|
|
Dividends Received |
694,421,500 |
|
|
|
Cash Flows from Investing |
-4,148,806,705 |
|
|
|
Cash Flows from Financing |
7,948,261,868 |
|
|
|
Increase/Decrease in Cash |
431,280,684 |
|
|
|
Cash at the Beginning of Year |
1,042,799,020 |
|
|
|
Cash at the End of Year |
1,474,079,704 |
|
|
Cash
Flows
|
Unit :
Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows
from Operating |
-9,389,682,760 |
-375,948,264 |
7,974,117,575 |
|
-Net Income |
2,566,720,180 |
342,826,962 |
12,060,956,389 |
|
-Exp.
without Cash Outflow |
2,130,950,553 |
2,708,475,278 |
11,380,007,941 |
|
-Revenue without
Cash Inflows |
-640,511,628 |
-5,940,289,457 |
-12,102,806 |
|
-Changes in
Asset/ & Liability |
-13,446,841,865 |
2,513,038,953 |
-15,454,743,949 |
|
Cash Flows
from Investing |
-12,837,116,690 |
10,592,796,470 |
-7,457,469,901 |
|
-Cash Inflow
from Investing |
2,916,670,632 |
15,393,406,850 |
2,582,377,262 |
|
-Cash
Outflows for Investing |
-15,753,787,322 |
-4,800,610,380 |
-10,039,847,163 |
|
Cash Flows
from Financing |
22,799,090,029 |
-9,905,584,005 |
-811,568,346 |
|
-Cash Inflows
from Financing |
23,789,090,029 |
8,910,000 |
508,067,874 |
|
-Cash
Outflows from Financing |
-990,000,000 |
-9,914,494,005 |
-1,319,636,220 |
|
Increase/Decrease
in Cash |
572,290,579 |
311,264,201 |
-294,920,672 |
|
Cash at the
Beginning of Year |
470,508,441 |
159,244,240 |
454,164,912 |
|
Cash at the
End of Year |
1,042,799,020 |
470,508,441 |
159,244,240 |
Products, Technologies, Services Description
|
Main Products & Services |
The Subject sells Steel Products produced
by POSCO(174611-0000741)
throughout Chungnam Province, Daejeon Area, Korea |
Trade Partners & Competitors
|
Suppliers |
POSCO(174611-0000741) |
|
Competitors |
DAE DONG STEEL CO., LTD.(110111-0150691) MOONBAE STEEL CO., LTD.(110111-0139190) BUHKOOK STEEL CO., LTD.(170111-0034984) |
Related Parties
(Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
DONG YANG RD CO., LTD.(161311-0012359) (100.0% held by the subject company) DANGJIN STEEL STRUCTURE INDUSTRIES CO., LTD.(165011-0019430) (37.27% held by the subject company) |
Sales by Region
(Activity &
Markets)
|
Sales/ Unit :Thousand KRW |
09/2011 |
2010 |
2009 |
|
Export |
- |
- |
- |
|
Domestic |
150,922,908 |
180,156,437 |
179,948,051 |
|
Total |
150,922,908 |
180,156,437 |
179,948,051 |
Court Action
|
Case No. |
Court |
Plaintiff(s)/
Creditor(s)/ Applicant(s) |
Defendant(s)/
Debtor(s)/ Respondent(s) |
Cause |
Amount (KRW) |
Status |
|
|
|
|
The Subject Company |
Payment of Machinery |
439,973,000 |
2nd Round is proceeding. |
News Clipping
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.02 |
|
|
1 |
Rs.78.05 |
|
Euro |
1 |
Rs.65.13 |
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.