MIRA INFORM
REPORT
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Report Date : |
28.01.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
DAE RYUNG CORPORATION |
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Registered Office : |
5, Dosan-ri, Chilgok-myeon, Uiryeong-gun, Gyeongsangnam-do, Korea, Ziup Code 636-832 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
21.12.2004 |
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Com. Reg. No.: |
615-81-40837 |
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Legal Form : |
Co., Ltd by shares |
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Line of Business : |
Manufacture of Rolled, Drawn and Folded Products of Copper |
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No. of Employees
: |
54 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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South Korea |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Basic
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Company
Name |
DAE RYUNG CORPORATION (Korean Company Name : “(주)대륭”) |
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Registered Address |
5, Dosan-ri,
Chilgok-myeon, Uiryeong-gun, Gyeongsangnam-do, Korea |
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Zip Code |
636-832 |
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Tel |
+82-55-582-9410 |
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Fax |
+82-55-582-9413 |
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E-mail |
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Website |
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Trading Address |
Rm708, Kolon Digital Tower, 308-4, 2-ga,
Seongsu-dong, Seongdong-gu, Seoul, Korea |
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Tel |
+82-2-461-7768 |
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Fax |
+82-2-461-7703 |
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Type |
Export/Import |
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Industry |
Manufacture of Rolled, Drawn and Folded Products of Copper |
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Main Business |
Copper Tube, Finned Tube, Alloy Tube |
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Established (mm/dd/yyyy) |
12/21/2004 |
The Subject owns
the premises of registered HQ address.
Detailed Products
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Copper tubing(31231302) |
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Sell |
Copper pipe(40142110) |
CEO’s
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Name |
Shin Suk-Kyun |
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Address |
Suite 102-1407, 708-1, Seongsu-dong
1-ga, Seongdong-gu, Seoul, Korea |
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Date of Birth |
06/23/1959 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
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Capital (KRW) |
1,400,000,000 |
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Employees |
54 |
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Formation |
Co., Ltd by shares |
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Bank Details |
Korea Exchange Bank-Seongsu Station Branch Kookmin Bank |
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Corporate Registered No. |
195511-0076096 |
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Business Registered No. |
615-81-40837 |
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Permit & Licenses |
12/2006 ISO 9001 Int’l Trade No.: 11870298 |
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Shareholder Position |
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Company History |
12/21/2004 Incorporated as the present name 09/05/2007 Increased capital to 600,000,000
KRW from 400,000,000 KRW 03/30/2007 Moved to 1475-10,
Yunoe-ri, Beopsu-myeon, Haman-gun, Gyeongsangnam-do, Korea from 784-1, Gangju-ri, Beopsu-myeon, Haman-gun, Gyeongsangnam-do, Korea 05/28/2008 Increased the authorized shares to 240,000,000 KRW from
80,000 shares 05/30/2008 Increased capital to 800,000,000 KRW from 600,000,000 KRW 10/28/2008 Increased capital to 1,000,000,000 KRW from 800,000,000 KRW 11/2008 Awarded US$ 20 Million Export Top Prize 07/09/2009 Increased capital to 1,400,000,000 KRW from 1,000,000,000
KRW 06/21/2010 Moved to the present HQ address from 1475-10, Yunoe-ri,
Beopsu-myeon, Haman-gun, Gyeongsangnam-do, Korea 08/30/2010 Moved to the present trading address from 2FL., Academy-Tower,
277-17, 2-ga, Seongsu-dong, Seongdong-gu, Seoul, Korea |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
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President & CEO |
Mr. |
Shin Suk-Kyun |
Male |
Korean |
12/21/2004 |
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Director |
Mr. |
Jeon Im-Jo |
Male |
Korean |
10/27/2008 |
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Director |
Mr. |
Shin Byung-Seob |
Male |
Korean |
02/01/2010 |
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Auditor |
Mr. |
Jung Hyun-Cheol |
Male |
Korean |
02/01/2010 |
Financials
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Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
12,711,892,227 |
14,092,300,644 |
-534,596,189 |
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2009 |
21,823,668,810 |
12,668,972,425 |
329,940,031 |
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2008 |
37,652,000,000 |
5,839,000,000 |
935,000,000 |
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2007 |
21,518,000,000 |
2,814,000,000 |
179,000,000 |
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2006 |
9,700,000,000 |
1,678,000,000 |
53,000,000 |
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2005 |
10,391,000,000 |
1,645,000,000 |
18,000,000 |
Financial Description
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Authorized Capital(KRW) |
2,400,000,000 |
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Paid-Up Capital(KRW) |
1,400,000,000 |
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Total Issued Shares |
140,000 |
Balance
Sheet
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Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
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Total Assets |
14,092,300,644 |
12,668,972,425 |
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Current Assets |
4,546,645,509 |
7,305,194,113 |
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-Quick Assets |
2,595,081,317 |
4,215,533,681 |
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-Inventories |
1,951,564,192 |
3,089,660,432 |
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Fixed Assets |
9,545,655,135 |
5,363,778,312 |
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-Investment |
15,000,000 |
100,500,000 |
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-Tangibles |
9,314,377,135 |
5,126,224,312 |
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-Intangibles |
216,278,000 |
137,054,000 |
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Total Liabilities |
11,713,098,255 |
9,755,173,847 |
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Current Liabilities |
5,162,774,914 |
6,484,330,544 |
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Fixed Liabilities |
6,550,323,341 |
3,270,843,303 |
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Capital Stock |
1,400,000,000 |
1,400,000,000 |
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Capital Surplus |
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Profit Surplus |
979,202,389 |
1,513,798,578 |
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Capital Adjustment |
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Total Equity |
2,379,202,389 |
2,913,798,578 |
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Liab. & Shareholder’s Equity |
14,092,300,644 |
12,668,972,425 |
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Current Liabilities |
5,162,774,914 |
6,484,330,544 |
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Trade Payables |
835,572,621 |
999,148,508 |
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Account Payables |
119,294,171 |
970,425,398 |
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Withholdings |
18,186,030 |
12,295,744 |
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Advance Receipts |
310,696,399 |
539,090,662 |
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Short-Term Borrowings |
3,481,894,699 |
3,688,800,000 |
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Accrued Expenses |
81,130,994 |
129,447,652 |
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Accrued Income Tax |
- |
145,122,580 |
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Current Portion of Long-Term Debts |
316,000,000 |
- |
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Fixed Liabilities |
6,550,323,341 |
3,270,843,303 |
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Debentures |
500,000,000 |
500,000,000 |
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Long-Term Borrowings |
5,824,000,000 |
2,695,000,000 |
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Provision for Severance & Retirement |
226,323,341 |
75,843,303 |
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Income
Statement
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Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
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Sales |
12,711,892,227 |
21,823,668,810 |
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Cost of Sold Goods |
10,780,948,960 |
19,317,874,104 |
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Gross Profit |
1,930,943,267 |
2,505,794,706 |
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Selling & Admin. Expenses |
1,865,910,193 |
1,796,645,377 |
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Operating Income |
65,033,074 |
709,149,329 |
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Non-Operating Income |
242,721,201 |
645,598,576 |
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Non-Operating Expenses |
842,350,464 |
848,337,034 |
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Income Before Taxes |
-534,596,189 |
506,410,871 |
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Income Taxes Expenses |
- |
176,470,840 |
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Net Income |
-534,596,189 |
329,940,031 |
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Cash
Flows
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Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
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Cash Flows from Operating |
1,618,669,881 |
-2,653,481,288 |
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-Net Income |
-534,596,189 |
329,940,031 |
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-Exp. without Cash Outflow |
849,140,838 |
251,855,864 |
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-Revenue without Cash Inflows |
-1,787,714 |
- |
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-Changes in Asset/ & Liability |
1,305,912,946 |
-3,235,277,183 |
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Cash Flows from Investing |
-4,805,140,317 |
-2,402,819,938 |
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-Cash Inflow from Investing |
575,343,315 |
462,009,503 |
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-Cash Outflows for Investing |
-5,380,483,632 |
-2,864,829,441 |
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Cash Flows from Financing |
3,238,094,699 |
5,008,800,000 |
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-Cash Inflows from Financing |
6,980,172,072 |
5,933,800,000 |
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-Cash Outflows from Financing |
-3,742,077,373 |
-925,000,000 |
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Increase/Decrease in Cash |
51,624,263 |
-47,501,226 |
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Cash at the Beginning of Year |
421,168,193 |
468,669,419 |
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Cash at the End of Year |
472,792,456 |
421,168,193 |
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Products, Technologies, Services Description
|
Main Products & Services |
Manufacturer and supplier for the Copper
alloy tube & pipe and all kinds of finned tube including copper high
finned tube. Copper and Copper alloy products -Copper tube & pipe(C1220) -Brass tube & pipe(C2600, C2700,
C44300, C68700) -Cu-Ni tube & pipe(C70600, C71500) -Copper & Copper alloy finned tube(High
& Low) -Round & Hex bar and Bus bar Fin Tube -Low Fin Tube -Cooper High Fin Tube -High Frequency Welded Fin Tube -Middle Fin Tube -Spiral & Corrugated Fin Tube -Inner Grooved Tube -Floral Tube Aluminum Finned Tube -For Air Cooled Heat Exchanger, Air Cooled
Condenser, Air Heater in field of Oil Refinery, Petrochemical Industry,
Offshore and Power plants |
Trade Partners & Competitors
|
Customers |
SC ENGINEERING CO., LTD.(110111-0271497) DOOSAN MECATEC CO., LTD.(110111-0126022) |
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Competitors |
TAEWOO METAL CO., LTD. 5DA-201-11, SIHWA INDUSTRIAL COMPLEX, 664-10,
SEONGGOK-DONG, DANWON-GU, ANSAN-SI, GYEONGGI-DO, KOREA TEL:+82-31-498-8145~8 FAX:+82-31-498-8149 SAMPO INDUSTRIAL CO., LTD. 2ND FL., SAMPO BLDG., 40-2, OGEUM-DONG,
SONGPA-GU, SEOUL, KOREA TEL:+82-2-573-5151 FAX:+82-2-571-5156 KUM WHAN INC. RA-1728, JUNGANG CIRCULATION COMPLEX, 1258,
GURO 2-DONG, GURO-GU, SEOUL, KOREA TEL:+82-2-2617-3073 FAX:+82-2-2684-3071 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
DAERYUNG C&A CO., LTD. 293, SAENGNIM-RI,
SAENGNIM-MYEON, GIMHAE-SI, GYEONGSANGNAM-DO, KOREA TEL:+82-55-329-3700 FAX:+82-55-338-1256 |
|
Cooperative Enterprise |
-Insured Company GREEN NON-LIFE INSURANCE CO., LTD.(110111-0007082) |
Sales by Region
(Activity & Markets)
The Subject deals
with the companies in China, Japan, Singapore, USA, Middle East and Europe.
Court Action
No.
News Clipping
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.65 |
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UK Pound |
1 |
Rs.77.80 |
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Euro |
1 |
Rs.65.05 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.