MIRA INFORM REPORT

 

 

Report Date :

25.07.2012

 

IDENTIFICATION DETAILS

 

Name :

DAELIM CORPORATION

 

 

Registered Office :

45, Namdaemunno 4-ga, Jung-gu, Seoul, Korea, 10th Fl., Korea Chamber of Commerce & Industry, Zip Code 100-743

 

 

Country :

South korea

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

01.10.1994

 

 

Com. Reg. No.:

110-81-30979

 

 

Legal Form :

Co., Ltd by shares

 

 

Line of Business :

Wholesale of Other Chemical Materials and Chemical Products

 

 

No. of Employees :

232

 

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)

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

 

Company Name

 (Korean Company Name : “(주)대림코퍼레이션”)

Registered Address

45, Namdaemunno 4-ga, Jung-gu, Seoul, Korea

Building

10th Fl., Korea Chamber of Commerce & Industry

Zip Code

100-743

Tel

+82-2-3708-3000

Fax

+82-2-3708-3571

E-mail

daecoweb@daelimcorp.co.kr

Website

www.daelimcorp.co.kr

Trading Address

10th Fl., Korea Chamber of Commerce & Industry, 45, Namdaemunno 4-ga, Jung-gu, Seoul, Korea

Tel

+82-2-3708-3000

Fax

+82-2-3708-3571

Other Address-R&D Center

217-3 Sinseong-dong Yusong-gu, Daejeon, Korea

Tel

+82-42-869-7540

Fax

+82-42-869-7545

Other Address-Yeosu Center

1005 Pyeongyeo-Dong ,Yeosu-si, Jeollanam-do, Korea

Tel

+82-61-692-6661

Fax

+82-61-692-6660

Other Address-ChungJu Center

ChungJu Industrial Complex 1135 Youngtan-Dong, ChungjJu-Si, Chungcheongbuk-do Korea

Tel

+82-43-856-1310

Fax

+82-43-856-1311

Other Address-R&D Center

217-3 Sinseong-dong Yusong-gu, Daejeon, Korea

Tel

+82-42-869-7540

Fax

+82-42-869-7545

Other Address-Yeosu Center

1005 Pyeongyeo-Dong ,Yeosu-si, Jeollanam-do, Korea

Tel

+82-61-692-6661

Fax

+82-61-692-6660

Other Address-ChungJu Center

ChungJu Industrial Complex 1135 Youngtan-Dong, ChungjJu-Si, Chungcheongbuk-do Korea

Tel

+82-43-856-1310

Fax

+82-43-856-1311

Type

Export

Industry

Wholesale of Other Chemical Materials and Chemical Products

  Main Business

Monomer, Polymer, Tarpaulin, Aluminum Ingots, Aluminum Scraps, Transport Arrangement Service, Marine Transport, Shipping Agency, K-Resin, Polyamide, Polybutene

Established (mm/dd/yyyy)

10/01/1994

 

The Subject Company occupies the premises of registered HQ address by leasing base.

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Phone headsets(43191609)

Sell

Scooters(25101802)

Sell

Power adapters or inverters(39121006)

Sell

Keyboards(43211706)

Sell

Televisions(52161505)

Sell

Plastic sheet(30102515)

Sell

Vehicle handsfree phone set(43191615)

Sell

Pigment paints(31211503)

Sell

Naphtha(15101503)

Sell

Liquified petroleum gas(15111510)

Sell

Heat pumps(40101806)

Sell

Films(13111200)

Sell

High Density Polyethylene HDPE(13102017)

Sell

Low Density Polyethylene LDPE(13102018)

Sell

Pipe(40142100)

Sell

Chemistry reagents or solutions(41116105)

Sell

Aromatic or heterocyclic compounds(12352005)

Sell

Fuel oil(15101700)

Sell

Polystyrene PS(13102026)

Sell

Elastomers(13101700)

Sell

Organic derivatives and substituted compounds(12352100)

Sell

Compounded resin(13111037)

Sell

Petroleum and distillates(15101500)

Sell

Aromatic or heterocyclic compounds(12352005)

 

 

CEO’s

 

Name

Park Chan-Jo

Date of Birth

01/14/1953

Title

President & CEO

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

36,829,810,000

Employees

232

Formation

Co., Ltd by shares

A Company of DAELIM BUSINESS GROUP

Bank Details

Woori Bank-Susong Dong Branch

Corporate Registered No.

110111-1081093

Business Registered No.

110-81-30979

Permit & Licenses

Int’l Trade No. : 11190837

Shareholder Position

Name

Shares

%

LEE JOON-YONG

4,490,137

61.00

LEE HAE-WOOK

2,365,962

32.10

ORA RESORT CO., LTD.(220111-0001536)

455,235

6.20

LEE HAE-SEUNG

54,628

0.70

TOTAL

7,365,962

100.00

Company History

10/01/1994 Incorporated as the present name

12/2006 Moved to the present HQ address

11/2008 Acquired DAELIM H&L CO., LTD.(110111-2198631)

 

 

 

 

Management

 

Job Description

Title

Name

Nationality

Date of Birth

Education

Vice Chairman & CEO

Mr.

Lee Hae-Wook

Korean

1968.02.14

Columbia University, USA

President & CEO

Mr.

Park Chan-Jo

Korean

1953.01.14

Hanyang University, Korea

CFO

Mr.

Baik Nam-Il

Korean

1954.11.23

Korea University, Korea

Auditor

Mr.

Sohn Han-Zip

Korean

1959.02.02

Seoul National University, Korea

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

(*)03/2012

  1,035,223,990,419

1,989,114,580,309

        13,560,528,973

(*)2011

4,399,668,808,663

1,841,721,119,517

5,884,509,543

(*)2010

3,399,951,045,633

1,739,824,829,932

-20,916,415,145

2009

2,669,965,345,248

1,739,797,471,760

63,166,570,323

2008

 2,697,134,104,636

1,501,257,174,863

   10,713,060,609

2007

2,045,859,654,211

1,296,877,694,259

74,422,054,455

2006

1,637,235,335,856

1,143,217,605,223

45,592,164,793

2005

1,619,135,635,132

974,095,732,301

56,543,975,190

2004

1,818,331,717,057

858,160,730,021

105,548,915,160

(*)2010, 2011 and 03/2012 ‘s figures are based on the K-IFRS Accounting System.

 

 

Financial Description

 

Authorized Capital(KRW)

100,000,000,000

Paid-Up Capital(KRW)

36,829,810,000

Total Issues Shares

7,365,962

 

Balance Sheet

 

Unit : Korean Won

01/01/2012~03/31/2012

As of 12/31/2011

As of 12/31/2010

Total Assets

1,989,114,580,309

1,841,721,119,517

1,739,824,829,932

Current Assets

581,442,757,238

428,507,631,044

383,286,021,368

Cash & Cash Equivalents

42,085,587,273

44,350,185,818

53,803,286,250

Current Financial Instruments

　

1,000,000,000

26,100,000,000

Trade Receivables & Other Receivables

501,077,790,157

350,649,202,666

271,062,656,642

Derivatives

1,480,323,932

199,416,578

6,517,876,515

Inventories

32,146,075,233

25,647,532,401

17,170,272,341

Other Current Assets

4,652,980,643

6,661,293,581

8,631,929,620

Non-Current Assets

1,407,671,823,071

1,413,213,488,473

1,356,538,808,564

Non-Current Financial Instruments

7,500,000

7,500,000

7,500,000

Trade Receivables & Other Receivables

951,620,186

949,638,490

922,143,866

Marketable Financial Instruments

1,763,249,540

1,763,249,540

1,379,045,700

Investment_Related Companies

780,372,865,665

780,372,865,665

780,372,865,665

Investment_Subsidiaries

233,837,300

233,837,300

19,868,361,058

Tangibles

530,194,402,227

536,544,761,451

462,002,561,124

Intangibles

87,823,230,248

87,841,604,890

87,831,165,215

Other Non-Current Assets

6,325,117,905

5,500,031,137

4,155,165,936

Total Liabilities

1,174,891,269,217

1,035,522,929,985

930,209,516,033

Current Liabilities

575,099,977,635

392,066,019,686

416,982,860,251

Trade Payables & Other Payables

386,859,479,650

245,665,448,130

230,457,163,383

Short-Term Borrowings

74,507,803,405

67,084,582,475

51,009,219,285

Derivatives

4,207,697,662

4,208,890,606

5,279,230,647

Finance Lease Debts

261,126,750

261,047,056

240,447,313

Accrued Income Tax

17,635,396,656

14,783,699,295

178,200,219

Current Portion of Long-Term Debts

57,102,212,422

57,603,732,321

126,979,887,509

Current Portion of Debentures

30,000,000,000

 

 

Other Current Liabilities

4,526,261,090

2,458,619,803

2,838,711,895

Non-Current Liabilities

599,791,291,582

643,456,910,299

513,226,655,782

Debentures

212,978,352,686

243,295,443,843

113,681,290,432

Long-Term Borrowings

225,223,578,133

239,568,800,826

240,319,468,785

Finance Lease Debts

1,507,314,090

1,594,766,552

1,832,642,086

Provision for Severance & Retirement

463,912,217

191,905,709

16,761,764

Deferred Income Tax Credit

159,618,134,456

158,805,993,369

157,376,492,715

Capital Stock

36,829,810,000

36,829,810,000

36,829,810,000

Capital Surplus

183,857,726,870

183,857,726,870

183,857,726,870

Profit Surplus

592,517,564,120

584,481,506,647

587,901,438,995

Others

1,018,210,102

1,029,146,015

1,026,338,034

Total Equity

814,223,311,092

806,198,189,532

809,615,313,899

Liab. & Shareholder’s Equity

1,989,114,580,309

1,841,721,119,517

1,739,824,829,932

 

 

Income Statement

 

Unit : Korean Won

01/01/2012~03/31/2012

As of 12/31/2011

As of 12/31/2010

Sales

  1,035,223,990,419

4,399,668,808,663

3,399,951,045,633

Cost of Sold Goods

   1,011,558,334,945

4,283,067,595,110

3,314,043,219,947

Gross Profit

        23,665,655,474

116,601,213,553

85,907,825,686

Selling & Admin. Expenses

        14,056,597,054

56,588,766,166

51,970,936,304

Other Operating Income

      20,097,377,192

61,354,533,328

83,847,662,530

Other Operating Expenses

        15,369,332,643

69,363,753,451

122,765,979,854

Operating Income

        14,337,102,969

52,003,227,264

-4,981,427,942

Finance Income

       9,767,254,038

12,182,143,907

18,293,150,065

Finance Expenses

        6,849,551,051

41,188,025,400

29,578,871,474

Income Before Taxes

        17,254,805,956

22,997,345,771

-16,267,149,351

Income Taxes Expenses

        3,694,276,983

17,112,836,228

4,649,265,794

Net Income

        13,560,528,973

5,884,509,543

-20,916,415,145

 

 

Cash Flows

 

Unit : Korean Won

01/01/2012~03/31/2012

As of 12/31/2011

As of 12/31/2010

Operating Activities Cash Flows

4,361,763,156

-11,946,030,057

56,103,716,519

Cash Flows from Operating

9,683,237,858

4,182,000,665

74,489,818,063

Net Income

13,560,528,973

5,884,509,543

-20,916,415,145

Adjustment

8,319,228,083

70,314,916,125

72,758,118,711

Changes in Asset/ & Liability

-12,196,519,198

-72,017,425,003

22,648,114,497

Interests Received

217,639,837

2,803,924,208

2,885,341,753

Interests Paid

-5,508,676,004

-18,611,984,632

-20,420,856,363

Dividends Received

-　

757,866,200

757,866,200

Income Taxes

-30,438,535

-1,077,836,498

-1,608,453,134

Cash Flows from Investing

659,202,681

-56,106,191,249

-75,377,802,590

Cash Flows from Financing

-7,301,849,835

57,566,890,014

-83,046,819,814

Increase/Decrease in Cash

-2,280,883,998

-10,485,331,292

-102,320,905,885

Cash at the Beginning of Year

44,350,185,818

53,803,286,250

155,775,256,950

Cash at the End of Year

42,085,587,273

44,350,185,818

53,803,286,250

 

Products, Technologies, Services Description

 

Main Products & Services

Sales and Agency Business of Petrochemical, Business of Ship Sales and Chartered Ship

 

Petrochemical Business

Shipping Business

 

 

Trade Partners & Competitors

 

Customers

YEOCHUN NCC CO., LTD.(110111-1839096)

LG CHEM LTD.(110111-2207995)

HONAM PETRO CHEMICAL CORPORATION(110111-0193196)

 

MITSUI & CO., LTD.

CARGILL INTERNATIONAL TRADING PTE LTD

DAELIM YIBIANSHI(SHANGHAI)TRADING CO.,LTD

TRAMMOCHEM ASIA PTE LTD

MARUBENI CORPORATION

Competitors

COGNIS KOREA LTD.

5TH FL., GANGNAM METRO BLDG., 1339-9, SEOCHO 2-DONG, SEOCHO-GU, SEOUL, KOREA

TEL:+82-2-3489-7600  FAX:+82-2-584-7603

 

NAMDUCK MOOLSAN CO., LTD.

RM. 1014, YEOUIDO DEPT. STORE, 36-2, YEOUIDO-DONG, YEONGDEUNGPO-GU, SEOUL, KOREA

TEL:+82-2-3774-0900  FAX:+82-2-3774-0901

 

KOWON CO., LTD.

7TH FL., GOWON BLDG., 20-19, YANGJAE 1-DONG, SEOCHO-GU, SEOUL, KOREA

TEL:+82-2-578-6181  FAX:+82-2-578-6692

 

 

Related Parties

(Subsidiaries, Joint-Venture & Affiliates)

 

Affiliates-Domestic

DAELIM INDUSTRIAL CO., LTD.(110111-0084915)

KOREA DEVELOPMENT CORPORATION(110111-0052037)

SAMHO CO., LTD.(180111-0434372)

DAELIM COPORATION(110111-1081093)

WEB-TECH CORP.(110111-1799406)

DAELIM I&S CO., LTD.(110111-1143009)

ORA RESORT CO., LTD.(220111-0001536)

DAELIM MOTOR CO., LTD.(110111-0227359)

DAELIM CONCRETE PROCUCTS CO., LTD.(110111-0061228)

ECO SULIHALL CO., LTD.(115611-0045657)

MANWOLSAN TUNNEL CO., LTD.(120111-0144444)

YOUNGCHEON SANGJU HIGHWAY CO., LTD.(110111-3581520)

SUDOKWON SEOBU HIGHWAY CO., LTD.(135111-0082770)

GIMHAE DONGSEO TUNNEL CO., LTD.(195511-0106752)

SONGDO POWER CO., LTD.(110111-3936189)

GREEN TECHNOLOGY DEVELOPMENT CO., LTD.(284411-0050771)

Affiliates-Overseas

DAELIM PHILIPPINES, INC(PHILIPPINES)

INTEGRATED ENGINEERING LTD.(MALAYSIA)

PT. DAELIM UTAMA CONSTRUCTION(INDONESIA)

DAELIM MALAYSIA, SDN. BHD.(MALAYSIA)

DAELIM SAUDI ARABIA CO.,LTD(SAUDI ARABIA)

DAELIM(SHANGHAI) INTERNATIONAL TRADING CO., LTD.(CHINA)

DAELIM VIETNAM LTD.(VIETNAM)

DAELIM(NAMKYUNG) CONSTRUCTION CO., LTD.(CHINA)

 

HHVC SHIPPING PTE.LTD.(SINGAPORE)

(50.0% held by the subject company)

 

WBLC SHIPPING PTE.LTD.(SINGAPORE)

(50.0% held by the subject company)

Overseas Office

DAELIM CORP. SHANGHAI OFFICE

1708 TOWER B CITY CENTER OF SHANGHAI NO.100 ZUNYI RD., SHANGHAI,200051

TEL:+86-21-6237-0099  FAX:+86-21-6237-0019

 

DAELIM CORP. GUANGZHOU OFFICE

RM 2112, CITIC PLAZA, TIANHE NORTH RD(E),GUANGZHOU, P.R.C

TEL:+86-20-3877-3455  FAX:+86-20-3877-3805

 

DAELIM CORP. HOCHIMINH OFFICE

8F OSIC BUILDING 8 NGUYEN HUE STREET, DISTRICT 1, HOCHIMINH CITY, VIETNAM

TEL:+84-8-822-8683  FAX:+84-8-822-8685

 

DAELIM CORP. SINGAPORE BRANCH

ADDRESS : 10 HOE CHIANG ROAD #04-07 KEPPEL TOWERS SINGAPORE 089315

TEL:+65-6327-9330  FAX:+65-6327-9350

Subsidiary

DAELIM VIETNAM LTD.

Cooperative Enterprise

-Insured Company

SAMSUNG FIRE & MARINE INSURANCE CO., LTD(110111-0005078)

HYUNDAI MARINE & FIRE INSURANCE CO., LTD.(110111-0035893)

 

 

Sales by Region

(Activity & Markets)

 

Sales/ Unit :Mil KRW

03/2012

2011

2010

Export

382,984

1,909,069

1,535,410

Domestic

652,240

2,490,600

1,864,541

Total

1,035,224

4,399,669

3,399,951

 

The Subject deals with the companies in Singapore, China, and Vietnam.

 

 

Court Action

 

No.

 

 

News Clipping

 

---

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.02

UK Pound

1

Rs.86.89

Euro

1

Rs.67.84

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.