|
Report Date : |
20.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
DEERFOS CO., LTD. |
|
|
|
|
Registered Office : |
290, Gajwa 4-dong, Seo-gu, Incheon, Korea
404-815 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
23.04.1963 |
|
|
|
|
Com. Reg. No.: |
137-81-07570 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Manufacture of Abrasive Articles |
|
|
|
|
No. of Employees : |
267 |
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 : |
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 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 |
|
Company
Name |
DEERFOS CO., LTD. (Korean Company Name : (주)디어포스) |
|
Registered Address |
290, Gajwa 4-dong, Seo-gu, Incheon, Korea |
|
Zip Code |
404-815 |
|
Tel |
+82-32-580-4100 |
|
Fax |
+82-32-580-4199 |
|
E-mail |
webmaster@deerfos.com |
|
Website |
www.deerfos.com |
|
Trading Address |
10FL., Seonam Bldg., 9-4, Yangpyeong-dong 1-ga,
Yeongdeungpo-gu, Seoul, Korea |
|
Tel |
+82-2-780-0046 |
|
Other Address-Jincheon Factory |
255-1, Mundeok-ri, Munbaek-myeon,
Jincheon-gun, Chungcheongbuk-do, Korea |
|
Tel |
+82-43-533-4106 |
|
Fax |
+82-43-533-4105 |
|
Other Address-Cheongwon Factory |
95, Han-gye-ri, Gadeok-myeon, Cheongwon-gun,
Chungbuk, Korea |
|
Other Address-Songrim Direct Sales Store |
C-111, Songnim Industrial Tools Center, 296, Songnim 4-dong, Dong-gu,
Incheon, Korea |
|
Tel |
+82-32-278-8411 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Abrasive Articles |
|
Main Business |
Abrasive Papers, Abrasive DISC, Abrasive Wheel |
|
Established (mm/dd/yyyy) |
04/23/1963 |
The Subject owns
the premises of registered HQ address(12,203.90㎡) and Jincheon Factory (40,435.00㎡), and Seoul
Office(1,247.70㎡).
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Abrasives and abrasive media(31191500) |
|
Sell |
Abrasive papers(31191501) |
|
Sell |
Abrasive cloth(31191504) |
|
Sell |
Manicure implements(53131617) |
|
Name |
Yoon Ho-Cheol |
|
Address |
Suite A-1401, 55-1, Yeouido-dong,
Yeongdeungpo-gu, Seoul, Korea |
|
Date of Birth |
07/02/1954 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
3,608,530,000 |
|||||||||||||||
|
Employees |
267 |
|||||||||||||||
|
Formation |
Co., Ltd by shares |
|||||||||||||||
|
Bank Details |
Industrial Bank of Korea-Yoido Branch Korea Development Bank Shinhan Bank Hana Bank |
|||||||||||||||
|
Corporate Registered No. |
120111-0016156 |
|||||||||||||||
|
Business Registered No. |
137-81-07570 |
|||||||||||||||
|
Permit & Licenses |
07/1996 ISO 9002 05/04/2006 ISO 9001 Intl Trade No.: 850494 |
|||||||||||||||
|
Shareholder Position |
|
|||||||||||||||
|
Company History |
04/23/1963 Incorporated as Korea Abrasive
Co., Ltd. 11/19/2003 Decreased capital to
3,608,530,000 KRW from 6,000,000,00 KRW 04/17/2006 Changed company name to the
present name |
|||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Yoon Ho-Cheol |
Male |
Korean |
03/16/1999 |
|
Director |
Mr. |
Yoon Nam-Hyun |
Male |
Korean |
03/16/1999 |
|
Director |
Mr. |
Lee Wan-Soo |
Male |
Korean |
03/12/2004 |
|
Director |
Mr. |
Lee Byung-Won |
Male |
Korean |
03/12/2004 |
|
Director |
Mr. |
Jung Joo-Hak |
Male |
Korean |
03/12/2004 |
|
Director |
Mr. |
Lee Dong-Sun |
Male |
Korean |
03/22/2010 |
|
Auditor |
Mr. |
Yoon Ho-Sam |
Male |
Korean |
03/12/2004 |
|
Supervisor of HQ Office |
Mr. |
Lee Joon-Sung |
Male |
Korean |
01/15/2001 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
86,201,930,786 |
108,250,286,687 |
8,403,017,537 |
|
|
2009 |
69,770,537,287 |
102,325,993,957 |
6,565,105,975 |
|
2008 |
81,577,103,362 |
91,458,102,367 |
4,016,480,614 |
|
2007 |
64,340,381,430 |
76,424,478,989 |
4,234,939,685 |
|
2006 |
63,962,439,815 |
69,199,057,873 |
3,080,947,346 |
|
2005 |
63,950,709,792 |
66,159,524,098 |
4,432,541,246 |
|
2004 |
63,152,720,932 |
60,715,316,691 |
7,135,834,748 |
|
Authorized Capital(KRW) |
10,000,000,000 |
|
Paid-Up Capital(KRW) |
3,608,530,000 |
|
Total Issued Shares |
721,706 |
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
108,250,286,687 |
102,325,993,957 |
91,458,102,367 |
|
Current Assets |
63,099,508,135 |
59,380,483,303 |
49,689,481,244 |
|
-Quick Assets |
43,332,971,071 |
41,292,179,045 |
30,922,391,379 |
|
-Inventories |
19,766,537,064 |
18,088,304,258 |
18,767,089,865 |
|
Fixed Assets |
45,150,778,552 |
42,945,510,654 |
41,768,621,123 |
|
-Investment |
15,479,696,618 |
14,730,991,471 |
13,789,977,287 |
|
-Tangibles |
29,164,426,441 |
27,845,634,813 |
27,741,392,828 |
|
-Intangibles |
93,303,933 |
71,494,810 |
75,116,884 |
|
-Others |
413,351,560 |
297,389,560 |
162,134,124 |
|
Total Liabilities |
37,617,421,626 |
39,860,233,645 |
34,911,393,433 |
|
Current Liabilities |
31,273,980,228 |
31,132,226,753 |
23,930,014,011 |
|
Fixed Liabilities |
6,343,441,398 |
8,728,006,892 |
10,981,379,422 |
|
Capital Stock |
3,608,530,000 |
3,608,530,000 |
3,608,530,000 |
|
Capital Surplus |
7,366,211,749 |
7,366,211,749 |
7,366,211,749 |
|
Profit Surplus |
57,405,819,766 |
49,363,655,229 |
42,798,549,254 |
|
Capital Adjustment |
2,252,303,546 |
2,127,363,334 |
2,773,417,931 |
|
Total Equity |
70,632,865,061 |
62,465,760,312 |
56,546,708,934 |
|
Liab. &
Shareholders Equity |
108,250,286,687 |
102,325,993,957 |
91,458,102,367 |
|
Current
Liabilities |
31,273,980,228 |
31,132,226,753 |
23,930,014,011 |
|
Short-Term Borrowings |
16,000,000,000 |
16,000,000,000 |
13,000,000,000 |
|
Trade Payables |
10,952,475,297 |
10,520,546,960 |
6,234,122,642 |
|
Account Payables |
2,347,743,649 |
1,721,953,063 |
1,509,486,332 |
|
Advance Receipts |
25,026,591 |
117,277,252 |
64,099,994 |
|
Withholdings |
92,816,530 |
91,529,652 |
89,959,320 |
|
Accrued Income Tax |
- |
879,665,896 |
758,645,369 |
|
Accrued Expenses |
80,377,521 |
36,527,258 |
30,270,213 |
|
Current Portion of Long-Term Debts |
1,684,340,640 |
1,764,726,672 |
1,389,914,903 |
|
Derivatives |
91,200,000 |
- |
853,515,238 |
|
Fixed
Liabilities |
6,343,441,398 |
8,728,006,892 |
10,981,379,422 |
|
Long-Term Borrowings |
4,320,041,440 |
6,543,511,684 |
8,755,520,494 |
|
Long-Term Account Payables |
85,050,000 |
89,679,403 |
85,412,091 |
|
Leasehold Deposit Received |
1,287,189,300 |
1,358,483,500 |
1,129,612,000 |
|
Provision for Severance & Retirement |
2,439,210,827 |
2,813,380,182 |
2,645,232,359 |
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
86,201,930,786 |
69,770,537,287 |
81,577,103,362 |
|
Cost of Sold Goods |
69,977,322,453 |
53,122,044,068 |
61,727,515,476 |
|
Gross Profit |
16,224,608,333 |
16,648,493,219 |
19,849,587,886 |
|
Selling & Admin. Expenses |
7,857,657,630 |
7,217,308,346 |
7,318,759,530 |
|
Operating Income |
8,366,950,703 |
9,431,184,873 |
12,530,828,356 |
|
Non-Operating Income |
4,282,402,507 |
3,818,437,811 |
6,079,072,682 |
|
Non-Operating Expenses |
3,679,821,533 |
5,248,715,691 |
13,242,614,117 |
|
Income Before Taxes |
8,969,531,677 |
8,000,906,993 |
5,367,286,921 |
|
Income Taxes Expenses |
566,514,140 |
1,435,801,018 |
1,350,806,307 |
|
Net Income |
8,403,017,537 |
6,565,105,975 |
4,016,480,614 |
|
Unit :
Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows from
Operating |
5,347,223,357 |
5,768,199,649 |
-1,767,189,587 |
|
-Net Income |
8,403,017,537 |
6,565,105,975 |
4,016,480,614 |
|
-Exp.
without Cash Outflow |
3,264,299,283 |
4,268,833,624 |
4,578,956,415 |
|
-Revenue
without Cash Inflows |
-2,533,276,691 |
-2,058,640,774 |
-2,246,549,422 |
|
-Changes in
Asset/ & Liability |
-3,786,816,772 |
-3,007,099,176 |
-8,116,077,194 |
|
Cash Flows
from Investing |
-2,684,963,267 |
-2,461,046,628 |
-7,185,891,144 |
|
-Cash Inflow
from Investing |
2,105,131,288 |
1,189,506,768 |
2,562,106,617 |
|
-Cash
Outflows for Investing |
-4,790,094,555 |
-3,650,553,396 |
-9,747,997,761 |
|
Cash Flows
from Financing |
-2,125,579,672 |
1,610,085,097 |
5,905,373,656 |
|
-Cash
Inflows from Financing |
3,400,000,000 |
3,000,000,000 |
8,896,152,672 |
|
-Cash
Outflows from Financing |
-5,525,579,672 |
-1,389,914,903 |
-2,990,779,016 |
|
Increase/Decrease
in Cash |
536,680,418 |
4,917,238,118 |
-3,047,707,075 |
|
Cash at the
Beginning of Year |
8,004,602,414 |
3,087,364,296 |
6,135,071,371 |
|
Cash at the
End of Year |
8,541,282,832 |
8,004,602,414 |
3,087,364,296 |
|
Main Products & Services |
Abrasive Papers, Abrasive DISC, Abrasive Wheel |
|
Customers |
DABO TRADING CO., LTD.(110111-1642580) |
|
Competitors |
SUN ABRASIVES CO., LTD. 609B-3L, BANWOL INDUSTRIAL COMPLEX, 628-4,
SEONGGOK-DONG, DANWON-GU, ANSAN-SI, GYEONGGI-DO, KOREA TEL:+82-31-495-6076 FAX:+82-31-494-6848 PYUNG RIM P & P CO., LTD. 498-1, DOCHEONG-RI, GEUMWANG-EUP,
EUMSEONG-GUN, CHUNGCHEONGBUK-DO, KOREA TEL:+82-43-881-4144 FAX:+82-43-881-4147 DAE SUNG ABRASIVE CO., LTD. 184-1, BEONAM-RI, JOCHIWON-EUP, YEONGI-GUN,
CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-862-3368 FAX:+82-41-865-2532 |
|
Overseas Branch |
Related Parties
(Subsidiaries,
Joint-Venture & Affiliates) KAICO DEER ABRASIVE PVT LTD PLOT NO.479, PHASE 1, I.E. BARHI, SONEPAT,
HARYANA, INDIA TEL :+91-130-4090110 FAX :+91-130-4090109 DEERFOS HANGZHOU NO.333 HONGXING ROAD.QIAONANQU. XIAOSHAN
ECONOMIC & TECHNOLOGY DEVELOPMENT ZONE HANGZHOU ,ZHEJIANG, CHINA TEL :+86-571-8286-9781 FAX
:+86-571-8286-9782 PT. DEERFOS INDONESIA JT. RAYA GUNUNG GANGSIR NO.27. BEJI,
PASURUAN JAWA TIMUR, INDONESIA TEL :+62-343-65-5555 FAX :+62-343-65-8989 DEERFOS EUROPE DEERFOS EUROPE SP. ZO O.O. 51-317 WROCLAW POLAND UL. BIERUTOWSKA 57/59
(BLDG. 1A) TEL :+48-71-345-66-06 FAX :+48-71-345-66-06
+ 29 EMA DEER ABRASIVE BODEGA 8 MODULO 10, ZONA FRANCA
BARRANQUILLA, COLOMBIA TEL :+57-5-344-8501 FAX :+57-5-344-8105 DEERFOS AMERICA 65 RAILROAD AVE. SUITE #1A RIDGEFIELD, NJ
07657, USA TEL :+1-201-945-6001 FAX :+1-201-945-6035 DEERFOS JAPAN 8TH FI., ENSOLEILE OHTA BLDG.,20-1,
NIHONBASHI HOKOZAKO-CHO, CHUO-KU, TOKYO, JAPAN 103-0015 TEL :+81-3-3249-3364 FAX :+81-3-3249-3365 DEERFOS AMERICA LATINA (100.0% held by the Subject company) ALAMEDA SANTOS,1827 - CONJ. 82 SL 2 -
CERQUEIRA CESAR CEP 01419-002- SΓO PAULO-SP-BRAZIL CNPJ: 03.435.390/0001-10 TEL :+55-11-3171-3005 FAX :+55-11-3171-3005 |
|
Subsidiary |
DEERFOS EUROPE SP.ZO.O. (100.0% held by the Subject company) DEERFOS JAPAN, INC. (100.0% held by the Subject company) DEER ABRASIVES EUROPE B.V. (100.0% held by the Subject company) DEERFOS (HANGZHOU) ABRASIVES CO., LTD. (100.0% held by the subject company) PT.DEER ABRASIVE INDONESIA (99.00% held by the subject company) KAICO DEER ABRASIVE CO., LTD. (99.00% held by the subject company) E.M.A. DEER ABRASIVE LTDA. (63.19% held by the subject company) SFC (35.00% held by the subject company) |
|
Cooperative Enterprise |
-Insured Company MERITZ FIRE & MARINE INSURANCE CO., LTD.(110111-0013328) |
(Activity &
Markets)
The Subject exports
to Indonesia, Australia, Taiwan, Japan, Pakistan, Poland, Italy, USA and
Brazil.
No.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.12 |
|
|
1 |
Rs.79.37 |
|
Euro |
1 |
Rs.66.00 |
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.