MIRA INFORM REPORT

 

 

Report Date :

08.05.2012

 

IDENTIFICATION DETAILS

 

Name :

M. DOHMEN KOREA LTD.

 

 

Registered Office :

9th Fl., Korean Broadcasting Institute 923-5, Mok 1-dong, Yangcheon-gu, Seoul, Korea 158-715

 

 

Country :

South Korea

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

10.03.2001

 

 

Com. Reg. No.:

211-86-72321

 

 

Legal Form :

Co., Ltd by shares

 

 

Line of Business :

Manufacture of Synthetic Colouring Matter, Tanning Materials and Other Coloring Agents

 

 

No. of Employees :

75

 

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)

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 Information

 

Company Name

M. DOHMEN KOREA LTD.

(Korean Company Name : “엠도흐멘코리아(주)”)

Registered Address

923-5, Mok 1-dong, Yangcheon-gu, Seoul, Korea

Building

9th Fl., Korean Broadcasting Institute

Zip Code

158-715

Tel

+82-2-3219-4900

Fax

+82-2-3219-4908~9

E-mail

hscho@mdohmenkorea.com

Website

www.mdohmen.com

Trading Address

9th Fl., Korean Broadcasting Institute, 923-5, Mok 1-dong, Yangcheon-gu, Seoul, Korea

Tel

+82-2-3219-4900

Fax

+82-2-3219-4908~9

Other Address-Onsan Factory

580, Hwasan-ri, Onsan-eup, Ulju-gun, Ulsan, Korea

Tel

+82-52-231-5302

Fax

+82-52-231-5039

Type

Export/Import

Industry

Manufacture of Synthetic Colouring Matter, Tanning Materials and Other Coloring Agents

  Main Business

Dyes, Chemical

Established (mm/dd/yyyy)

03/10/2001

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

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Dyes(12171500)

Sell

Pigments(12171600)

 

 

CEO’s

 

Name

Juergen Etz

Address

Kampshaide 2, D-41063, Munchen Klatbah, Germany

Date of Birth

09/15/1952

Title

President & CEO

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

18,828,000,000

Employees

75

Formation

Co., Ltd by shares

Foreign Direct Investment Corporation

Bank Details

Korea Exchange Bank

Corporate Registered No.

110111-2189953

Business Registered No.

211-86-72321

Permit & Licenses

Int’l Trade No.: 11941521

Shareholder Position

Name

Shares

%

M. DOHMEN SA(SWISS)

18,828

100.00

TOTAL

18,828

100.00

Company History

03/10/2001 Incorporated as the present name

03/15/2001 Registered as a Foreign Direct Investment Corporation

08/2001 Acquired Paint Business from LG CHEM LTD(110111-2207995)

08/21/2001 Increased the authorized shares to 20,000 shares from 200 shares

08/30/2001 Increased capital to 14,009,000,000 KRW from 50,000,000 KRW

08/16/2005 Moved to the present HQ address from 923-12, Mok 1-dong, Yangcheon-gu, Seoul, Korea

10/05/2006 Increased capital to 18,828,000,000 KRW from 14,009,000,000 KRW

 

 

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

Mr.

Juergen Etz

Male

German

08/12/2008

Director

Mr.

Ditrich Pitzolt

Male

German

03/31/2004

Director

Mr.

Cho Han-Sung

Male

Korean

08/18/2010

Director

Mr.

Yoon Yang-Soo

Male

Korean

08/18/2010

Director

Mr.

Mark Dohmen

Male

German

09/11/2001

Auditor

Mr.

Michael Hinchen

Male

German

03/24/2010

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2010

29,868,369,903

19,777,863,468

327,557,467

2009

20,914,904,110

22,741,426,946

-879,213,411

2008

31,078,828,149

26,299,610,465

10,172,249,305

2007

29,642,949,213

25,704,385,355

-2,671,362,391

2006

28,245,645,647

24,899,562,943

-4,206,309,483

2005

27,869,570,321

28,827,882,449

-1,703,101,527

2004

34,097,105,235

36,963,265,297

205,682,577

 

Financial Description

 

Authorized Capital(KRW)

20,000,000,000

Paid-Up Capital(KRW)

18,828,000,000

Total Issued Shares

18,828

 

 

Balance Sheet

 

Unit : Korean Won

As of 12/31/2010

As of 12/31/2009

As of 12/31/2008

Total Assets

19,777,863,468

22,741,426,946

26,299,610,465

Current Assets

17,854,484,114

19,373,698,782

21,754,493,309

-Quick Assets

12,503,411,973

13,223,706,613

15,335,012,253

-Inventories

5,351,072,141

6,149,992,169

6,419,481,056

Fixed Assets

1,923,379,354

3,367,728,164

4,545,117,156

-Investment

15,800,000

15,800,000

15,800,000

-Tangibles

910,872,752

1,112,712,894

1,017,782,394

-Intangibles

820,314,853

2,046,115,254

3,276,923,550

-Others

176,391,749

193,100,016

234,611,212

Total Liabilities

8,598,669,845

11,889,790,790

14,568,760,898

Current Liabilities

8,573,607,726

11,689,111,190

14,254,195,281

Fixed Liabilities

25,062,119

200,679,600

314,565,617

Capital Stock

18,828,000,000

18,828,000,000

18,828,000,000

Capital Surplus

　

　

　

Profit Surplus

-7,386,241,417

-7,713,798,884

-6,834,585,473

Capital Adjustment

-262,564,960

-262,564,960

-262,564,960

Total Equity

11,179,193,623

10,851,636,156

11,730,849,567

Liab. & Shareholder’s Equity

19,777,863,468

22,741,426,946

26,299,610,465

 

Current Liabilities

8,573,607,726

11,689,111,190

14,254,195,281

Trade Payables

2,791,272,657

5,141,907,767

5,672,136,453

Short-Term Borrowings

1,662,945,934

1,846,934,023

2,944,368,006

Account Payables

3,833,093,195

4,183,009,448

5,055,655,469

Advance Receipts

8,921,850

334,240,210

431,923,649

Withholdings

257,181,099

149,875,922

99,862,695

Accrued Expenses

20,192,991

33,143,820

50,249,009

Fixed Liabilities

25,062,119

200,679,600

314,565,617

Provision for Severance & Retirement

25,062,119

200,679,600

314,565,617

 

 

Income Statement

 

Unit : Korean Won

As of 12/31/2010

As of 12/31/2009

As of 12/31/2008

Sales

29,868,369,903

20,914,904,110

31,078,828,149

Cost of Sold Goods

24,567,379,305

17,207,088,069

25,702,952,139

Gross Profit

5,300,990,598

3,707,816,041

5,375,876,010

Selling & Admin. Expenses

4,842,717,216

4,446,900,763

5,078,900,543

Operating Income

458,273,382

-739,084,722

296,975,467

Non-Operating Income

914,734,379

1,621,792,646

16,724,961,675

Non-Operating Expenses

1,045,450,294

1,761,921,335

6,849,687,837

Income Before Taxes

327,557,467

-879,213,411

10,172,249,305

Income Taxes Expenses

-

-

-

Net Income

327,557,467

-879,213,411

10,172,249,305

 

 

Cash Flows

 

Unit : Korean Won

As of 12/31/2010

As of 12/31/2009

As of 12/31/2008

Cash Flows from Operating

717,921,252

1,770,233,107

-809,337,501

-Net Income

327,557,467

-879,213,411

10,172,249,305

-Exp. without Cash Outflow

2,030,591,766

2,304,290,958

3,352,576,940

-Revenue without Cash Inflows

-162,813,217

-382,167,504

-15,037,830,495

-Changes in Asset/ & Liability

-1,477,414,764

727,323,064

703,666,749

Cash Flows from Investing

-19,344,142

-212,773,565

-37,293,250

-Cash Inflow from Investing

31,391,767

159,885,469

28,075,086

-Cash Outflows for Investing

-50,735,909

-372,659,034

-65,368,336

Cash Flows from Financing

-194,027,152

-1,074,240,577

1,004,595,210

-Cash Inflows from Financing

-

-

1,451,803,251

-Cash Outflows from Financing

-194,027,152

-1,074,240,577

-447,208,041

Increase/Decrease in Cash

504,549,958

483,218,965

157,964,459

Cash at the Beginning of Year

1,081,296,448

598,077,483

440,113,024

Cash at the End of Year

1,585,846,406

1,081,296,448

598,077,483

 

 

Products, Technologies, Services Description

 

Main Products & Services

Dyes, Chemical

 

Trade Partners & Competitors

 

Suppliers

LG HAUSYS, LTD.(110111-4071207)

Customers

M. DOHMEN SA

M. DOHMEN GMBH

M. DOHMEN USA INC

HANG ZHOU M. DOHMEN CHEMICAL LTD

Competitors

CIBA SPECIALTY CHEMICALS KOREA LTD.

13TH FL., HAESEONG 2 BLDG., 942-10, DAECHI 2-DONG, GANGNAM-GU, SEOUL, KOREA

TEL:+82-2-3451-7300  FAX:+82-2-553-1928

 

OH YOUNG INDUSTRIAL CO., LTD.

1RA-402, SIHWA INDUSTRIAL COMPLEX, 1250-1, JEONGWANG 3-DONG, SIHEUNG-SI, GYEONGGI-DO, KOREA

TEL:+82-31-499-2781  FAX:+82-31-499-2785

 

SAMBO FINE CHEMICALS MFG. CO., LTD.

 628-2, HAKJANG-DONG, SASANG-GU, BUSAN, KOREA

TEL:+82-51-311-3001  FAX:+82-51-323-1742

 

 

Related Parties

(Subsidiaries, Joint-Venture & Affiliates)

 

Affiliates

M. DOHMEN SA

M. DOHMEN GMBH

M. DOHMEN USA INC

HANG ZHOU M. DOHMEN CHEMICAL LTD

Corporate Ownership

LG HAUSYS, LTD.(110111-4071207)

M. DOHMEN SA(SWISS)

Cooperative Enterprise

-Insured Company

LIG INSURANCE CO., LTD.(110111-0017859)

 

-Production Assisting Services Agreement with

LG HAUSYS, LTD.(110111-4071207)

 

 

Sales by Region

(Activity & Markets)

 

The Subject deals with the companies in USA and Europe.

 

 

Court Action

 

No.

 

News Clipping

 

--

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.34

UK Pound

1

Rs.86.09

Euro

1

Rs.69.37

 

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.