|
Report Date : |
23.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
DAE RYUNG CORPORATION |
|
|
|
|
Registered Office : |
5, Dosan-ri, Chilgok-myeon, Uiryeong-gun, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
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 |
|
|
|
|
Line of Business : |
Manufacture of Rolled, Drawn and Folded Products of Copper |
|
|
|
|
No. of Employees : |
63 |
RATING & COMMENTS
|
MIRA’s 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 – 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 |
DAE RYUNG CORPORATION (Korean Company Name : “(주)대륭”) |
|
Registered Address |
5, Dosan-ri,
Chilgok-myeon, Uiryeong-gun, |
|
Zip Code |
636-832 |
|
Tel |
+82-55-582-9410 |
|
Fax |
+82-55-582-9413 |
|
E-mail |
sales@daeryungco.com |
|
Website |
www.daeryungco.com |
|
Trading Address |
Rm.708, |
|
Tel |
+82-2-461-7768 |
|
Fax |
+82-2-461-7703 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Rolled, Drawn and Folded Products of Copper |
|
Main Business |
Copper Tube, Finned Tube, Alloy Tube |
|
Established (mm/dd/yyyy) |
12/21/2004 |
The Subject owns
the premises of registered HQ address.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Copper tubing(31231302) |
|
Sell |
Copper pipe(40142110) |
|
Name |
Shin Suk-Kyun |
|
Address |
Suite 102-1407, 708-1, Seongsu-dong
1-ga, Seongdong-gu, |
|
Date of Birth |
06/23/1959 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
1,400,000,000 |
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|
Employees |
63 |
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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 |
|||||||||||||||
|
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, 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, 08/30/2010 Moved to the present trading address from 2FL.,
Academy-Tower, 277-17, 2-ga, Seongsu-dong, Seongdong-gu, |
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|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Shin Suk-Kyun |
Male |
Korean |
12/21/2004 |
|
Director |
Mr. |
Jeon Im-Jo |
Male |
Korean |
10/27/2008 |
|
Director |
Mr. |
Shin Byung-Seob |
Male |
Korean |
02/01/2010 |
|
Auditor |
Mr. |
Jung Hyun-Cheol |
Male |
Korean |
02/01/2010 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
16,820,430,345 |
16,998,788,219 |
646,633,891 |
|
|
2010 |
12,711,892,227 |
14,092,300,644 |
-534,596,189 |
|
2009 |
21,823,668,810 |
12,668,972,425 |
329,940,031 |
|
2008 |
37,652,000,000 |
5,839,000,000 |
935,000,000 |
|
2007 |
21,518,000,000 |
2,814,000,000 |
179,000,000 |
|
2006 |
9,700,000,000 |
1,678,000,000 |
53,000,000 |
|
2005 |
10,391,000,000 |
1,645,000,000 |
18,000,000 |
|
Authorized Capital(KRW) |
2,400,000,000 |
|
Paid-Up Capital(KRW) |
1,400,000,000 |
|
Total Issued Shares |
140,000 |
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Total Assets |
16,998,788,219 |
14,092,300,644 |
12,668,972,425 |
|
Current Assets |
8,074,834,391 |
4,546,645,509 |
7,305,194,113 |
|
-Quick Assets |
3,334,204,720 |
2,595,081,317 |
4,215,533,681 |
|
-Inventories |
4,740,629,671 |
1,951,564,192 |
3,089,660,432 |
|
Fixed Assets |
8,923,953,828 |
9,545,655,135 |
5,363,778,312 |
|
-Investment |
- |
15,000,000 |
100,500,000 |
|
-Tangibles |
8,811,646,828 |
9,314,377,135 |
5,126,224,312 |
|
-Intangibles |
112,307,000 |
216,278,000 |
137,054,000 |
|
Total Liabilities |
13,972,951,939 |
11,713,098,255 |
9,755,173,847 |
|
Current Liabilities |
9,196,517,989 |
5,162,774,914 |
6,484,330,544 |
|
Fixed Liabilities |
4,776,433,950 |
6,550,323,341 |
3,270,843,303 |
|
Capital Stock |
1,400,000,000 |
1,400,000,000 |
1,400,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
1,625,836,280 |
979,202,389 |
1,513,798,578 |
|
Capital Adjustment |
|
|
|
|
Total Equity |
3,025,836,280 |
2,379,202,389 |
2,913,798,578 |
|
Liab. & Shareholder’s Equity |
16,998,788,219 |
14,092,300,644 |
12,668,972,425 |
|
Current Liabilities |
9,196,517,989 |
5,162,774,914 |
6,484,330,544 |
|
Trade Payables |
2,901,045,702 |
835,572,621 |
999,148,508 |
|
Account Payables |
227,544,011 |
119,294,171 |
970,425,398 |
|
Withholdings |
15,557,480 |
18,186,030 |
12,295,744 |
|
Advance Receipts |
411,273,811 |
310,696,399 |
539,090,662 |
|
Short-Term Borrowings |
4,303,062,894 |
3,481,894,699 |
3,688,800,000 |
|
Accrued Expenses |
66,958,754 |
81,130,994 |
129,447,652 |
|
Accrued Income Tax |
18,985,337 |
- |
145,122,580 |
|
Current Portion of Long-Term Debts |
752,090,000 |
316,000,000 |
- |
|
Current Portion of Debentures |
500,000,000 |
- |
- |
|
Fixed Liabilities |
4,776,433,950 |
6,550,323,341 |
3,270,843,303 |
|
Debentures |
- |
500,000,000 |
500,000,000 |
|
Long-Term Borrowings |
4,471,910,000 |
5,824,000,000 |
2,695,000,000 |
|
Provision for Severance & Retirement |
315,640,550 |
226,323,341 |
75,843,303 |
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Sales |
16,820,430,345 |
12,711,892,227 |
21,823,668,810 |
|
Cost of Sold Goods |
14,160,953,919 |
10,780,948,960 |
19,317,874,104 |
|
Gross Profit |
2,659,476,426 |
1,930,943,267 |
2,505,794,706 |
|
Selling & Admin. Expenses |
2,041,512,906 |
1,865,910,193 |
1,796,645,377 |
|
Operating Income |
617,963,520 |
65,033,074 |
709,149,329 |
|
Non-Operating Income |
908,099,579 |
242,721,201 |
645,598,576 |
|
Non-Operating Expenses |
855,262,881 |
842,350,464 |
848,337,034 |
|
Income Before Taxes |
670,800,218 |
-534,596,189 |
506,410,871 |
|
Income Taxes Expenses |
24,166,327 |
- |
176,470,840 |
|
Net Income |
646,633,891 |
-534,596,189 |
329,940,031 |
|
Unit : Korean
Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Cash Flows
from Operating |
-512,909,516 |
1,618,669,881 |
-2,653,481,288 |
|
-Net Income |
646,633,891 |
-534,596,189 |
329,940,031 |
|
-Exp.
without Cash Outflow |
985,184,364 |
849,140,838 |
251,855,864 |
|
-Revenue
without Cash Inflows |
-657,454,823 |
-1,787,714 |
- |
|
-Changes in
Asset/ & Liability |
-1,487,272,948 |
1,305,912,946 |
-3,235,277,183 |
|
Cash Flows
from Investing |
396,041,757 |
-4,805,140,317 |
-2,402,819,938 |
|
-Cash Inflow
from Investing |
1,973,302,818 |
575,343,315 |
462,009,503 |
|
-Cash
Outflows for Investing |
-1,577,261,061 |
-5,380,483,632 |
-2,864,829,441 |
|
Cash Flows
from Financing |
-94,831,805 |
3,238,094,699 |
5,008,800,000 |
|
-Cash Inflows
from Financing |
3,229,811,786 |
6,980,172,072 |
5,933,800,000 |
|
-Cash
Outflows from Financing |
-3,324,643,591 |
-3,742,077,373 |
-925,000,000 |
|
Increase/Decrease
in Cash |
-211,699,564 |
51,624,263 |
-47,501,226 |
|
Cash at the
Beginning of Year |
472,792,456 |
421,168,193 |
468,669,419 |
|
Cash at the
End of Year |
261,092,892 |
472,792,456 |
421,168,193 |
|
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 |
|
Customers |
SC ENGINEERING CO., LTD.(110111-0271497) DOOSAN MECATEC CO., LTD.(110111-0126022) |
|
Competitors |
TAEWOO METAL CO., LTD. 5DA-201-11, SIHWA INDUSTRIAL COMPLEX,
664-10, SEONGGOK-DONG, DANWON-GU, ANSAN-SI, 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, TEL:+82-2-573-5151 FAX:+82-2-571-5156 KUM WHAN INC. RA-1728, JUNGANG CIRCULATION COMPLEX, 1258,
GURO 2-DONG, GURO-GU, TEL:+82-2-2617-3073 FAX:+82-2-2684-3071 |
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
DAERYUNG C&A CO., LTD. 293, SAENGNIM-RI, SAENGNIM-MYEON,
GIMHAE-SI, TEL:+82-55-329-3700 FAX:+82-55-338-1256 |
|
Cooperative |
-Insured Company GREEN NON-LIFE INSURANCE CO., LTD.(110111-0007082) |
(Activity &
Markets)
The Subject deals
with the companies in
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.99 |
|
|
1 |
Rs.88.97 |
|
Euro |
1 |
Rs.71.57 |
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.