|
Report Date : |
03.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
DSR CORP |
|
|
|
|
Formerly Known As : |
Daesung Steel Co.,
Ltd. |
|
|
|
|
Registered Office : |
1551-1, Songjeong-dong, Gangseo-gu, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
01.04.1965 |
|
|
|
|
Com. Reg. No.: |
617-81-00224 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Manufacture of Articles Made from Metal Wires |
|
|
|
|
No. of Employees : |
189 |
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 : |
Usually Correct |
|
|
|
|
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 |
DSR CORP. (Korean Company
Name : “디에스알(주)”) |
|
Registered Address |
1551-1, Songjeong-dong, Gangseo-gu, |
|
Zip Code |
618-270 |
|
Tel |
+82-51-979-0500 |
|
Fax |
+82-51-979-0600 |
|
E-mail |
|
|
Website |
|
|
Trading Address |
7FL., Wooshin Bldg., 646-15, Yeoksam-dong, Gangnam-gu, |
|
Tel |
+82-2-3420-3500 |
|
Fax |
+82-2-3420-3600 |
|
Other Address-Suncheon Factory |
267-11, Seonpyeong-ri, Seo-myeon, Suncheon-si, |
|
Tel |
+82-61-751-5561 |
|
Fax |
+82-61-751-2111 |
|
Other Address |
732-2, Chonam-ri,
Gwangyang-eup, Gwangyang-si, |
|
Type |
Export |
|
Industry |
Manufacture of Articles Made from Metal Wires |
|
Main Business |
Rope, Wire, Sling, Stainless Steel Wire |
|
Established (mm/dd/yyyy) |
04/01/1965 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Slings(24101611) |
|
Sell |
Wire rope(31151505) |
|
Sell |
Ropes(31151500) |
|
Sell |
Synthetic fabrics(11161800) |
|
Sell |
Mechanical wire(31151800) |
|
Sell |
Polypropylene rope(31151503) |
|
Buy |
Stainless steel rods(30102405) |
|
Buy |
Steel(11101704) |
|
Buy |
Base Metals(11101700) |
|
Name |
Hong Seok-Bin |
|
Address |
|
|
Date of Birth |
10/30/1966 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
6,000,000,000 |
||||||||||||
|
Employees |
189 |
||||||||||||
|
Formation |
Co., Ltd by Shares |
||||||||||||
|
Bank Details |
Hana Bank Korea Exchange Bank-Seocho Dong Branch |
||||||||||||
|
Corporate Registered No. |
180111-0000777 |
||||||||||||
|
Business Registered No. |
617-81-00224 |
||||||||||||
|
Permit & Licenses |
Int’l Trade No.: 740047 |
||||||||||||
|
Shareholder Position |
|
||||||||||||
|
Company History |
04/01/1965 Incorporated as Daesung Steel
Co., Ltd. 05/01/2000 Changed company name to the
present name 11/18/2002 Moved to the present HQ address
from 172, Gwangan-dong, Suyeong-gu, |
||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Hong Seok-Bin |
Male |
Korean |
03/28/2012 |
|
Director |
Mr. |
Hong Soon-Mo |
Male |
Korean |
03/28/2012 |
|
Director |
Mr. |
Kim In-Hwan |
Male |
Korean |
03/28/2012 |
|
Director |
Mr. |
Song Kang-Dae |
Male |
Korean |
03/28/2012 |
|
Auditor |
Mr. |
Kim Joo-Young |
Male |
Korean |
03/28/2012 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
159,248,894,799 |
100,255,863,179 |
8,234,479,659 |
|
|
2010 |
153,598,095,721 |
103,634,026,170 |
7,493,681,053 |
|
2009 |
111,251,359,375 |
84,729,649,369 |
7,193,779,240 |
|
Authorized Capital(KRW) |
10,000,000,000 |
|
Paid-Up Capital(KRW) |
6,000,000,000 |
|
Total Issued Shares |
1,200,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Total Assets |
100,255,863,179 |
103,634,026,170 |
84,729,649,369 |
|
Current Assets |
49,568,628,452 |
60,684,227,970 |
46,409,317,458 |
|
-Quick Assets |
26,223,320,825 |
29,196,590,195 |
26,324,154,511 |
|
-Inventories |
23,345,307,627 |
31,487,637,775 |
20,085,162,947 |
|
Fixed Assets |
50,687,234,727 |
42,949,798,200 |
38,320,331,911 |
|
-Investment |
16,230,950,606 |
15,903,519,725 |
13,966,252,719 |
|
-Tangibles |
33,944,040,688 |
26,535,035,042 |
23,823,349,759 |
|
-Intangibles |
512,243,433 |
511,243,433 |
530,729,433 |
|
Total Liabilities |
29,987,503,428 |
41,828,787,118 |
30,269,540,710 |
|
Current Liabilities |
28,990,936,055 |
39,803,612,448 |
27,781,489,526 |
|
Fixed Liabilities |
996,567,373 |
2,025,174,670 |
2,488,051,184 |
|
Capital Stock |
6,000,000,000 |
6,000,000,000 |
6,000,000,000 |
|
Capital Surplus |
10,117,403,714 |
10,117,403,714 |
10,117,403,714 |
|
Profit Surplus |
49,403,274,444 |
41,168,794,785 |
33,675,113,732 |
|
Capital Adjustment |
4,747,681,593 |
4,519,040,553 |
4,667,591,213 |
|
Total Equity |
70,268,359,751 |
61,805,239,052 |
54,460,108,659 |
|
Liab. & Shareholder’s Equity |
100,255,863,179 |
103,634,026,170 |
84,729,649,369 |
|
Current Liabilities |
28,990,936,055 |
39,803,612,448 |
27,781,489,526 |
|
Trade Payables |
6,273,847,136 |
11,601,565,238 |
6,980,485,513 |
|
Account Payables |
4,780,489,907 |
4,503,152,234 |
1,836,592,209 |
|
Short-Term Borrowings |
13,999,663,676 |
19,983,506,859 |
16,336,503,562 |
|
Advance Receipts |
1,129,074,947 |
850,631,385 |
483,408,331 |
|
Withholdings |
133,796,099 |
134,365,963 |
172,938,813 |
|
Accrued Expenses |
1,253,702,890 |
1,327,587,089 |
987,335,408 |
|
Accrued Income Tax |
1,074,461,400 |
771,803,680 |
90,147,290 |
|
Current Portion of Long-Term Debts |
345,900,000 |
631,000,000 |
606,000,000 |
|
Derivatives |
- |
- |
288,078,400 |
|
Fixed Liabilities |
996,567,373 |
2,025,174,670 |
2,488,051,184 |
|
Long-Term Borrowings |
500,000,000 |
845,900,000 |
1,476,900,000 |
|
Provision for Severance & Retirement |
3,727,252,744 |
3,914,048,826 |
4,118,022,213 |
|
Leasehold Deposit Received |
16,500,000 |
16,500,000 |
16,500,000 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Sales |
159,248,894,799 |
153,598,095,721 |
111,251,359,375 |
|
Cost of Sold Goods |
136,454,855,823 |
131,478,522,001 |
92,971,288,533 |
|
Gross Profit |
22,794,038,976 |
22,119,573,720 |
18,280,070,842 |
|
Selling & Admin. Expenses |
13,487,050,697 |
13,975,476,824 |
11,170,906,630 |
|
Operating Income |
9,306,988,279 |
8,144,096,896 |
7,109,164,212 |
|
Non-Operating Income |
5,016,332,489 |
4,359,715,521 |
4,622,491,415 |
|
Non-Operating Expenses |
4,461,062,768 |
3,727,306,964 |
3,731,197,192 |
|
Income Before Taxes |
9,862,258,000 |
8,776,505,453 |
8,000,458,435 |
|
Income Taxes Expenses |
1,627,778,341 |
1,282,824,400 |
806,679,195 |
|
Net Income |
8,234,479,659 |
7,493,681,053 |
7,193,779,240 |
Cash
Flows
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Cash Flows from Operating |
15,579,961,237 |
-336,863,726 |
5,052,818,350 |
|
-Net Income |
8,234,479,659 |
7,493,681,053 |
7,193,779,240 |
|
-Exp. without Cash Outflow |
5,772,136,257 |
4,586,303,287 |
4,630,225,890 |
|
-Revenue without Cash Inflows |
-2,201,866,672 |
-2,034,605,404 |
-1,966,503,585 |
|
-Changes in Asset/ & Liability |
3,775,211,993 |
-10,382,242,662 |
-4,804,683,195 |
|
Cash Flows from Investing |
-7,771,409,711 |
-4,069,088,117 |
-4,533,318,860 |
|
-Cash Inflow from Investing |
5,471,907,882 |
9,200,177,003 |
11,577,952,779 |
|
-Cash Outflows for Investing |
-13,243,317,593 |
-13,269,265,120 |
-16,111,271,639 |
|
Cash Flows from Financing |
-7,141,827,497 |
3,063,797,038 |
542,306,696 |
|
-Cash Inflows from Financing |
129,292,845,397 |
139,850,331,300 |
115,099,414,366 |
|
-Cash Outflows from Financing |
-136,434,672,894 |
-136,786,534,262 |
-114,557,107,670 |
|
Increase/Decrease in Cash |
666,724,029 |
-1,342,154,805 |
1,061,806,186 |
|
Cash at the Beginning of Year |
2,131,584,611 |
3,473,739,416 |
2,411,933,230 |
|
Cash at the End of Year |
2,798,308,640 |
2,131,584,611 |
3,473,739,416 |
|
Main Products & Services |
Rope, Wire, Sling, Stainless Steel Wire |
|
Competitors |
MANHO ROPE & WIRE CO., LTD. 1660-11, SONGJEONG-DONG, GANGSEO-GU, TEL:+82-51-601-0300 FAX:+82-51-442-1162 KOSWIRE CO., LTD. 121-6, SAMNAK-DONG, SASANG-GU, TEL:+82-51-301-1617 FAX:+82-51-301-1619 KOS LIMITED 131-1, YUSAN-DONG, YANGSAN-SI, TEL:+82-55-389-1050~6 FAX:+82-55-389-1057 |
(Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
DSR WIRE CORP.(180111-0004753) DSR INTERNATIONAL CORP. (70.0% held by the subject company) QINGDAO DSR WIRE CO.,
LTD.( (92.31% held by the subject
company) |
|
Cooperative |
-Insured Company HANWHA GENERAL INSURANCE CO., LTD.(110111-0006456) MERITZ FIRE & MARINE INSURANCE CO., LTD.(110111-0013328) |
(Activity &
Markets)
Not Available.
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.93 |
|
|
1 |
Rs.85.85 |
|
Euro |
1 |
Rs.69.94 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.