|
Report Date : |
17.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
CHOSUN WELDING POHANG CO., LTD. |
|
|
|
|
Registered Office : |
865, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
01.01.2010 |
|
|
|
|
Com. Reg. No.: |
506-81-70186 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Other Fabricated and Processed Metal Products |
|
|
|
|
No. of Employees : |
116 |
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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Company
Name |
CHOSUN WELDING POHANG CO., LTD. (Korean Company Name : “조선선재(주)”) |
|
Registered Address |
865, |
|
Building |
|
|
Zip Code |
790-240 |
|
Tel |
+82-54-289-8200 |
|
Fax |
+82-54-285-8543 |
|
E-mail |
csadmin@chosunwelding.com |
|
Website |
www.chosunwelding.com |
|
Trading Address |
865, |
|
Tel |
+82-54-285-8221 |
|
Fax |
+82-54-285-8543 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Other Fabricated and Processed Metal Products n.e.c |
|
Main Business |
Covered Arc Welding Electrodes, CO₂Wire, Flux Cored Wire |
|
Established (mm/dd/yyyy) |
01/01/2010 |
The Subject owns
the premises of registered HQ address.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Welding wire(23171510) |
|
Name |
Chang Won-Young |
|
Address |
|
|
Date of Birth |
08/26/1975 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
628,825,500 |
|||||||||||||||
|
Employees |
116 |
|||||||||||||||
|
Formation |
Listed Company ( A Company of DONGKUK INDUSTRIES CO.,
LTD.(110111-0085583) |
|||||||||||||||
|
Bank Details |
Citibank, Korea-Ulsan Sales Dept |
|||||||||||||||
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Corporate Registered No. |
171711-0086312 |
|||||||||||||||
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Business Registered No. |
506-81-70186 |
|||||||||||||||
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Permit & Licenses |
Int’l Trade No.: 30663341 |
|||||||||||||||
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Shareholder Position |
|
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|
Company History |
01/01/2010 Incorporated as the present
name, after Ex. CHOSUN WELDING CO., LTD., has spin off into 3 companies as below; CS HOLDINGS CO., LTD.(110111-0008486 Existing company), the subject company, CHOSUN WELDING
POHANG CO., LTD.(171711-1186312, Newly established company) which took
welding materials business division, and CHOSUN WELDING ONSAN CO., LTD.(230111-0161677 Newly established
company) which took FCW Welding material Business Division (*)Before spin off 01/12/1949
Incorporated as CHOSUN STEEL WIRE CO., LTD. 03/23/1977 Changed company name to CHOSUN WELDING CO., LTD. 08/1995 Moved to 7th Fl., Chosun
Bldg., 830-47, Yeoksam 1-dong, Gangnam-gu, 12/2001 Moved to 865, |
|||||||||||||||
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|
|
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
President & CEO |
Mr. |
Chang Won-Young |
Korean |
1975.08.26 |
|
|
Director |
Mr. |
Jo Sung-Eun |
Korean |
1975.07.20 |
- |
|
Outside Director |
Mr. |
Kim Jin-Hoo |
Korean |
1965.11.16 |
|
|
Auditor |
Mr. |
Jo Yong-Ok |
Korean |
1945.09.03 |
- |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
19,756,659,663 |
48,182,245,582 |
2,452,554,816 |
|
|
2011 |
75,614,864,699 |
45,093,751,338 |
11,666,001,708 |
|
2010 |
69,513,189,816 |
38,386,634,157 |
9,616,021,228 |
(*)Figures are based on the K-IFRS
Accounting System.
|
Authorized Capital(KRW) |
2,400,000,000 |
|
Paid-Up Capital(KRW) |
628,825,500 |
|
Total Issued Shares |
1,257,651 |
|
Unit : Korean Won |
01/01/2012~03/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Total Assets |
48,182,245,582 |
45,093,751,338 |
38,386,634,157 |
|
Current
Assets |
36,963,607,016 |
33,801,767,956 |
26,986,078,224 |
|
Cash & Cash Equivalents |
11,671,995,620 |
10,816,934,438 |
3,401,421,521 |
|
Trade Receivables |
8,770,369,134 |
8,428,862,362 |
8,570,826,321 |
|
Other Receivables |
188,118,415 |
125,679,465 |
119,718,472 |
|
Inventories |
16,308,719,616 |
14,401,871,097 |
14,835,785,064 |
|
Other Current Assets |
24,404,231 |
28,420,594 |
58,326,846 |
|
Non-Current
Assets |
11,218,638,566 |
11,291,983,382 |
11,400,555,933 |
|
Other Receivables |
387,385,217 |
384,324,348 |
108,030,000 |
|
Tangibles |
10,788,401,030 |
10,864,544,875 |
11,248,364,414 |
|
Intangibles |
42,852,319 |
43,114,159 |
44,161,519 |
|
Total
Liabilities |
13,121,554,125 |
12,400,222,432 |
16,593,973,942 |
|
Current
Liabilities |
11,339,248,762 |
10,624,713,131 |
15,298,535,750 |
|
Short-Term Borrowings |
|
|
5,000,000,000 |
|
Trade Payables |
7,233,660,447 |
6,755,163,323 |
6,306,687,475 |
|
Other Payables |
1,597,516,729 |
2,008,152,218 |
2,385,991,025 |
|
Other Current Liabilities |
54,767,131 |
39,054,026 |
162,817,223 |
|
Deferred Income Tax Credit |
2,453,304,455 |
1,822,343,564 |
1,443,040,027 |
|
Non-Current
Liabilities |
1,782,305,363 |
1,775,509,301 |
1,295,438,192 |
|
Confirmed Salaries |
1,396,593,840 |
1,231,845,325 |
780,067,054 |
|
Deferred Income Tax Credit |
385,711,523 |
543,663,976 |
515,371,138 |
|
Capital
Stock |
628,825,500 |
628,825,500 |
628,825,500 |
|
Capital Surplus |
11,718,865,854 |
11,718,865,854 |
11,718,865,854 |
|
Profit Surplus |
22,714,010,267 |
20,346,847,716 |
9,445,979,025 |
|
Others |
-1,010,164 |
-1,010,164 |
-1,010,164 |
|
Total Equity |
35,060,691,457 |
32,693,528,906 |
21,792,660,215 |
|
Liab. & Shareholder’s Equity |
48,182,245,582 |
45,093,751,338 |
38,386,634,157 |
|
Unit : Korean Won |
01/01/2012~03/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Sales |
19,756,659,663 |
75,614,864,699 |
69,513,189,816 |
|
Cost of Sold Goods |
15,088,391,696 |
57,378,101,796 |
51,315,983,744 |
|
Gross Profit |
4,668,267,967 |
18,236,762,903 |
18,197,206,072 |
|
Selling & Admin. Expenses |
1,241,934,636 |
4,514,846,122 |
5,895,407,164 |
|
Other Operating Income |
95,194,008 |
748,473,530 |
600,833,405 |
|
Other Operating Expenses |
1,209,635 |
40,983,531 |
107,419,514 |
|
Operating Income |
3,520,317,704 |
14,429,406,780 |
12,795,212,799 |
|
Finance Income |
130,024,368 |
544,571,185 |
150,684,241 |
|
Finance Expenses |
115,045,958 |
238,975,561 |
612,982,449 |
|
Income Before Taxes |
3,535,296,114 |
14,735,002,404 |
12,332,914,591 |
|
Income Taxes Expenses |
-1,082,741,298 |
-3,069,000,696 |
-2,716,893,363 |
|
Net Income |
2,452,554,816 |
11,666,001,708 |
9,616,021,228 |
|
Unit : Korean Won |
01/01/2012~03/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Operating
Activities Cash Flows |
960,166,682 |
13,506,940,417 |
7,545,190,636 |
|
Net Income |
2,452,554,816 |
11,666,001,708 |
9,616,021,228 |
|
Adjustment |
1,253,112,268 |
3,590,070,325 |
5,327,818,386 |
|
Changes in Asset/ & Liability |
-2,226,373,991 |
926,344,877 |
-5,235,121,079 |
|
Interests Received |
66,521,451 |
79,159,669 |
36,839,744 |
|
Interests Paid |
|
-131,695,884 |
-449,854,788 |
|
Income Taxes |
-585,647,862 |
-2,622,940,278 |
-1,750,512,855 |
|
Cash
Flows from Investing |
-105,105,500 |
-462,667,000 |
-143,318,951 |
|
Cash Inflow from Investing |
|
122,256,000 |
58,460,888 |
|
Cash Outflows for Investing |
|
-584,923,000 |
-201,779,839 |
|
Cash
Flows from Financing |
|
-5,628,760,500 |
-5,001,010,164 |
|
Cash Inflows from Financing |
|
|
|
|
Cash Outflows from Financing |
|
-5,628,760,500 |
-5,001,010,164 |
|
Increase/Decrease
in Cash |
855,061,182 |
7,415,512,917 |
2,400,861,521 |
|
Cash at
the Beginning of Year |
10,816,934,438 |
3,401,421,521 |
1,000,560,000 |
|
Cash at
the End of Year |
11,671,995,620 |
10,816,934,438 |
3,401,421,521 |
|
Suppliers |
POSCO(174611-0000741) DONGBU METAL CO., LTD.(110111-3836678) |
|
Competitors |
KISWEL CO., LTD. 721-3, HAKJANG-DONG, SASANG-GU, TEL:+82-51-317-3131~40 FAX:+82-51-325-3627 CHEGIM WELDING CO., LTD. 42-499, IHYEON-DONG, SEO-GU, TEL:+82-53-250-0600 FAX:+82-53-256-8117 HYUNDAI WELDING CO., LTD. 16TH FL., ILSONG BLDG., 157-37, SAMSEONG
1-DONG, GANGNAM-GU, TEL:+82-2-6230-6010~2 FAX:+82-2-598-6928 |
(Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates-Domestic |
CS HOLDINGS CO., LTD.(110111-0008486) CHOSUN WELDING ONSAN CO.,
LTD.(230111-0161677) DONGKUK INDUSTRIES CO., LTD.(110111-0085583) DONGKUK R&S CO., LTD.( 195511-0069249) DONGYAN METAL CO., LTD.( SEYOUNG SYSTEME CO., LTD.(230111-0130838) DONGKUK S&C(110111-2276784) DAEWON STEEL CO., LTD.(120111-0123711) DONGKUK REFRACTORIES CO.,
LTD.(195511-0069249) HANRYO ENERGY DEVELOPMENT CO.,
LTD.(206211-0026796) SHINAN WIND POWER CO., LTD.(201111-0023666) GO DEOK WIND POWER CO.,
LTD.(161311-0017432) DONGYEON S&T CO., LTD.(110111-3401059) CHUNGSEOK DEVELOPMENT CO., LTD. DK AMERICA, INC. KUMHWA METAL CO., LTD. DK WIND POWER CO., LTD.(234111-0045158) NAMWON WIND POWER CO., LTD.(211311-0005428) DK DONGSHIN CO., LTD.(110111-3850959) |
|
Affiliates-Overseas |
CHOSUN VINA CO., LTD. CHOSUN WELDING JAPAN CO., LTD. |
(Activity &
Markets)
The Subject deals with
the companies in
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.92 |
|
|
1 |
Rs.85.47 |
|
Euro |
1 |
Rs.67.15 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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.