MIRA INFORM REPORT
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Report Date : |
20.10.2012 |
IDENTIFICATION DETAILS
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Name : |
DSB ENGINEERING CO., LTD. |
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Registered Office : |
2, Cheonghak 2-dong, Yeongdo-gu, Busan, Korea, 6th Fl., Daeseong Bldg., Zip Code 606-818 |
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Country : |
South korea |
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Date of Incorporation : |
16.12.2005 |
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Com. Reg. No.: |
602-81-38126 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Building of Steel Ships |
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No. of Employees : |
08 employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
South Korea |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
South Korea - ECONOMIC OVERVIEW
South Korea over the past four decades has demonstrated incredible
growth and global integration to become a high-tech industrialized economy. In
the 1960s, GDP per capita was comparable with levels in the poorer countries of
Africa and Asia. In 2004, South Korea joined the trillion dollar club of world
economies, and currently is among the world's 20 largest economies. Initially,
a system of close government and business ties, including directed credit and
import restrictions, made this success possible. The government promoted the
import of raw materials and technology at the expense of consumer goods, and
encouraged savings and investment over consumption. The Asian financial crisis
of 1997-98 exposed longstanding weaknesses in South Korea''s development model
including high debt/equity ratios and massive short-term foreign borrowing. GDP
plunged by 6.9% in 1998, and then recovered by 9% in 1999-2000. Korea adopted
numerous economic reforms following the crisis, including greater openness to
foreign investment and imports. Growth moderated to about 4% annually between
2003 and 2007. With the global economic downturn in late 2008, South Korean GDP
growth slowed to 0.3% in 2009. In the third quarter of 2009, the economy began
to recover, in large part due to export growth, low interest rates, and an
expansionary fiscal policy, and growth was 3.6% in 2011. In 2011, the US-South
Korea Free Trade Agreement was ratified by both governments and is projected to
go into effect in early 2012. The South Korean economy''s long term challenges
include a rapidly aging population, inflexible labor market, and heavy reliance
on exports - which comprise half of GDP.
|
Source : CIA |
|
Company
Name |
DSB ENGINEERING
CO., LTD. (Korean Company Name : “디에스비엔지니어링(주)”) |
|
Registered Address |
2, Cheonghak 2-dong, Yeongdo-gu, Busan, Korea |
|
Building |
6th Fl., Daeseong Bldg. |
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Zip Code |
606-818 |
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Tel |
+82-51-412-5937 |
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Fax |
+82-51-412-9139 |
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E-mail |
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Website |
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Trading
Address |
6th Fl., Daeseong Bldg., 2, Cheonghak 2-dong, Yeongdo-gu, Busan, Korea |
|
Tel |
+82-51-412-5937 |
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Fax |
+82-51-412-9139 |
|
Type |
Export |
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Industry |
Building
of Steel Ships |
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Main Business |
Lifeboat,
Davit, Fire Protected Type Totally Enclosed Lifeboat, Semi-Enclosed Lifeboat
For Passenger Ship, Free Fall Lifeboat, Fast Rescue Boat, Hinged Gravity Type
Davit, Free Fall Type Davit, Single Arm Davit, Trackway Type Davit |
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Established (mm/dd/yyyy) |
12/16/2005 |
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Activity |
Detailed Products (UNSPSC) |
|
Sell |
Lifeboats
or liferafts(25111601) |
|
Name |
Hwang Jong-Seon |
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Address |
Suite 103-1504, 1552, Dadae-dong, Saha-gu, Busan, Korea |
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Date of Birth |
05/23/1960 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
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Capital (KRW) |
130,000,000 |
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Employees |
8 |
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Formation |
Co.,
Ltd by Shares |
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Bank Details |
Jeju Bank-Busan Branch |
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Corporate Registered No. |
1801110-540137 |
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Business Registered No. |
602-81-38126 |
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Permit & Licenses |
N/A |
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Shareholder Position |
N/A |
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Company History |
12/16/2005 Incorporated as the present name 11/30/2006 Awarded US$ 3 Million Export Top
Prize |
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Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
President
& CEO |
Mr. |
Hwang
Jong-Seon |
Male |
Korean |
12/16/2008 |
|
Director |
M/S. |
Hwang Ye-Sol |
Female |
Korean |
12/16/2008 |
|
Auditor |
M/S. |
Ham In-Ae |
Female |
Korean |
03/19/2008 |
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Year / Unit
: KRW |
Sales |
Assets |
Net Income |
|
5,123,000,000 |
2,749,000,000 |
214,000,000 |
|
|
2010 |
4,328,000,000 |
2,418,000,000 |
210,000,000 |
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2009 |
3,737,000,000 |
1,025,000,000 |
141,000,000 |
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2008 |
3,534,000,000 |
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|
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2007 |
3,425,000,000 |
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|
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2006 |
3,213,000,000 |
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The full financials
are not available, and the Subject Company does not have any obligations to
release its financials to the public.
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Authorized Capital(KRW) |
520,000,000 |
|
Paid-Up Capital(KRW) |
130,000,000 |
|
Total Issues Shares |
13,000 |
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Main Products & Services |
Lifeboat,
Davit, Fire Protected Type Totally Enclosed Lifeboat, Semi-Enclosed Lifeboat
For Passenger Ship, Free Fall Lifeboat, Fast Rescue Boat, Hinged Gravity Type
Davit, Free Fall Type Davit, Single Arm Davit, Trackway Type Davit |
|
Competitors |
KOREA MARINE LEISURE CO., LTD. 887-7, HADAN 2-DONG, SAHA-GU, BUSAN, KOREA TEL:+82-51-206-8373 FAX:+82-51-204-6819 HYUNDAI LIFEBOATS CO., LTD. 186-4, DAEJEONG-RI, ONSAN-EUP, ULJU-GUN,
ULSAN, KOREA TEL:+82-52-237-4850~4 FAX:+82-52-237-4855 MARINE 21 CO., LTD. RM. 11, SUYOUNGMAN YACHTING CENTER, 1393, U
1-DONG, HAEUNDAE-GU, BUSAN, KOREA TEL:+82-51-742-4141 FAX:+82-51-744-2063 |
(Activity & Markets)
The Subject exports
to Brazil, Singapore, Vietnam and Europe.
Not Available.
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.96 |
|
UK Pound |
1 |
Rs.85.45 |
|
Euro |
1 |
Rs.69.46 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.