|
Report Date : |
07.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
DANSUK
INDUSTRIAL CO., LTD. |
|
|
|
|
Registered Office : |
1Da-705, Sihwa Industrial Complex 1239-5, Jeongwang 3-dong, Siheung-si, Gyeonggi-do, Korea 429-913 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
06.08.1984 |
|
|
|
|
Com. Reg. No.: |
133-81-22642 |
|
|
|
|
Legal Form : |
Co., Ltd by
shares, Venture Business |
|
|
|
|
Line of Business : |
Manufacture
of Inorganic Pigments and Other Metal Oxides |
|
|
|
|
No. of Employees : |
204 |
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 : |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 |
DANSUK
INDUSTRIAL CO., LTD. (Korean
Company Name : “(주)단석산업”) |
|
Registered Address |
1239-5,
Jeongwang 3-dong, Siheung-si, Gyeonggi-do, Korea |
|
Building |
1Da-705, Sihwa Industrial Complex |
|
Zip Code |
429-913 |
|
Tel |
+82-31-488-0700 |
|
Fax |
+82-31-499-3909 |
|
E-mail |
d5101@dansuk.co.kr |
|
Website |
www.dansuk.co.kr |
|
Trading Address |
1Da-705, Sihwa Industrial Complex , 1239-5,
Jeongwang 3-dong, Siheung-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-488-0700 |
|
Fax |
+82-31-499-3909 |
|
Other Address-Gumi Factory |
623-16, Bongsan-ri, Sandong-myeon, Gumi-si,
Gyeongbuk, Korea |
|
Tel |
+82-54-475-0116~7 |
|
Fax |
+82-54-475-0118 |
|
Other Address-Yeongdeok
Factory |
45, Hwacheon-ri, Yeongdeok-eup, Yeongdeok-gun,
Gyeongsangbuk-do, Korea |
|
Tel |
+82-54-734-1621 |
|
Fax |
+82-54-734-1622 |
|
Other Address-Gas Station |
165-1, Gojan-dong, Danwon-gu,
Ansan-si, Gyeonggi-do, Korea |
|
Other Address-Gunsan Branch |
1582-13, Soryong-dong,
Gunsan-si, Jeonbuk, Korea |
|
Type |
Export/Import |
|
Industry |
Manufacture of Inorganic Pigments
and Other Metal Oxides |
|
Main Business |
PVC Stabilizer, Lead Compound,
Fatty Acid |
|
Established (mm/dd/yyyy) |
08/06/1984 |
The Subject Company
occupies the premises of registered HQ address by leasing base.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Lead(11101714) |
|
Sell |
Biochemicals(12352200) |
|
Sell |
Additives(12160000) |
|
Sell |
Organic halogenated compounds(12352101) |
|
Sell |
High Grade Lead Silicate |
|
Sell |
Dibasic Lead Phosphite |
|
Sell |
Tribasic Lead Sulphate(TLS) |
|
Name |
Han Seung-Wook |
|
Address |
Suite B-1705, 15, Seochojungang-ro,
Seocho-gu, Seoul, Korea |
|
Date of Birth |
10/20/1958 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
4,200,000,000 |
|||||||||||||||||||||
|
Employees |
204 |
|||||||||||||||||||||
|
Formation |
Co., Ltd by shares, Venture Business |
|||||||||||||||||||||
|
Bank Details |
Kookmin Bank-Shihwa Corporate Finance
Branch Gyungnam Bank Woori Bank |
|||||||||||||||||||||
|
Corporate Registered No. |
134111-0010839 |
|||||||||||||||||||||
|
Business Registered No. |
133-81-22642 |
|||||||||||||||||||||
|
Permit & Licenses |
1984 KS Mark 1997 ISO9002 01/02/2003 ISO 9001 01/02/2003 ISO 14001 Int’l Trade No.: 932965 |
|||||||||||||||||||||
|
Shareholder Position |
|
|||||||||||||||||||||
|
Company History |
1965 Established
Nobel Chemical Industry Co. 07/01/1984
Incorporated as Nobel Chemical Industry Co., Ltd. 1989 Changed
the company name to the present name 2001 Designated as a Venture Business 2005 Designated as a Venture Business
again 06/19/2006 Spin off par value to 1,000 KRW
from 10,000 KRW 06/19/2006 Increased the authorized shares
to 30,000,000 shares from 2,000,000 shares 12/30/2007 Designated as a Venture
Business again 12/30/2008 Designated as a Venture
Business again 10/20/2009 Decreased capital to 4,200,000,000
KRW from 5,000,000,000 KRW |
|||||||||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Han Seung-Wook |
Male |
Korean |
07/16/2012 |
|
Director |
Mr. |
Han Gu-Jae |
Male |
Korean |
04/01/2001 |
|
Director |
Mr. |
Han Dong-Soo |
Male |
Korean |
02/25/2009 |
|
Auditor |
M/S. |
Lee Zeung-Nyeo |
Female |
Korean |
08/09/2010 |
|
Supervisor of HQ Office |
Mr. |
Lee Chang-Sool |
Male |
Korean |
10/16/2012 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
285,073,304,694 |
195,107,229,153 |
2,053,869,341 |
|
|
2010 |
203,005,997,899 |
176,622,901,947 |
6,061,570,747 |
|
2009 |
166,338,001,630 |
152,975,541,485 |
9,639,314,281 |
|
2008 |
133,781,456,158 |
123,438,430,300 |
-5,394,487,951 |
|
2007 |
122,276,557,075 |
104,694,310,575 |
2,326,876,329 |
|
2006 |
95,304,139,044 |
77,607,490,442 |
2,027,901,506 |
|
2005 |
90,896,057,975 |
64,043,506,423 |
4,145,298,085 |
|
2004 |
94,342,392,331 |
58,739,778,094 |
2,327,130,591 |
|
Authorized Capital(KRW) |
30,000,000,000 |
|
Paid-Up Capital(KRW) |
4,200,000,000 |
|
Total Issues Shares |
4,200,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Total Assets |
195,107,229,153 |
176,622,901,947 |
152,975,541,485 |
|
Current Assets |
68,304,947,945 |
65,079,445,669 |
56,997,001,790 |
|
-Quick Assets |
37,244,966,262 |
39,495,589,195 |
33,918,205,936 |
|
-Inventories |
31,059,981,683 |
25,583,856,474 |
23,078,795,854 |
|
Fixed Assets |
126,802,281,208 |
111,543,456,278 |
95,978,539,695 |
|
-Investment |
12,023,093,670 |
11,723,842,801 |
7,536,503,850 |
|
-Tangibles |
111,691,156,086 |
96,835,331,298 |
86,014,697,987 |
|
-Intangibles |
1,435,163,391 |
1,149,136,858 |
1,062,772,537 |
|
-Others |
1,652,868,061 |
1,835,145,321 |
1,364,565,321 |
|
Total Liabilities |
128,536,404,156 |
114,896,767,552 |
97,103,983,253 |
|
Current Liabilities |
96,353,641,765 |
86,506,759,458 |
83,445,329,104 |
|
Fixed Liabilities |
32,182,762,391 |
28,390,008,094 |
13,658,654,149 |
|
Capital Stock |
4,200,000,000 |
4,200,000,000 |
4,200,000,000 |
|
Capital Surplus |
4,305 |
4,305 |
4,305 |
|
Profit Surplus |
34,665,611,493 |
33,661,742,152 |
27,600,171,405 |
|
Capital Adjustment |
27,705,209,199 |
23,864,387,938 |
24,071,382,522 |
|
Total Equity |
66,570,824,997 |
61,726,134,395 |
55,871,558,232 |
|
Liab. &
Shareholder’s Equity |
195,107,229,153 |
176,622,901,947 |
152,975,541,485 |
|
Current
Liabilities |
96,353,641,765 |
86,506,759,458 |
83,445,329,104 |
|
Trade Payables |
9,678,141,812 |
11,652,464,983 |
8,053,478,792 |
|
Short-Term Borrowings |
73,049,192,215 |
63,111,905,833 |
64,730,608,491 |
|
Current Portion of Long-Term Debts |
4,468,500,000 |
5,352,790,000 |
3,548,850,000 |
|
Account Payables |
7,373,855,266 |
4,585,414,791 |
5,414,558,117 |
|
Accrued Expenses |
1,361,804,570 |
909,297,812 |
806,128,381 |
|
Advance Receipts |
65,887,721 |
430,148,289 |
140,904,716 |
|
Withholdings |
19,606,633 |
293,844,538 |
196,094,854 |
|
VAT Withhold |
22,000,000 |
23,000,000 |
7,000,000 |
|
Accrued Income Tax |
314,653,548 |
147,893,212 |
547,705,753 |
|
Fixed
Liabilities |
32,182,762,391 |
28,390,008,094 |
13,658,654,149 |
|
Long-Term Borrowings |
20,866,500,000 |
16,728,000,000 |
11,379,790,000 |
|
Debentures |
10,000,000,000 |
10,000,000,000 |
- |
|
Long-Term
Account Payables |
150,000,000 |
300,000,000 |
450,000,000 |
|
Leasehold Deposit Received |
280,000,000 |
270,000,000 |
250,000,000 |
|
Provision for Severance & Retirement |
3,253,340,650 |
2,967,537,186 |
2,834,548,427 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Sales |
285,073,304,694 |
203,005,997,899 |
166,338,001,630 |
|
Cost of Sold Goods |
264,458,684,895 |
183,498,213,167 |
145,168,371,185 |
|
Gross Profit |
20,614,619,799 |
19,507,784,732 |
21,169,630,445 |
|
Selling & Admin. Expenses |
12,353,042,232 |
11,948,242,504 |
9,861,781,525 |
|
Operating Income |
8,261,577,567 |
7,559,542,228 |
11,307,848,920 |
|
Non-Operating Income |
4,797,168,973 |
6,316,856,342 |
9,319,737,736 |
|
Non-Operating Expenses |
10,382,084,475 |
7,394,673,948 |
9,956,560,714 |
|
Income Before Taxes |
2,676,662,065 |
6,481,724,622 |
10,671,025,942 |
|
Income Taxes Expenses |
622,792,724 |
420,153,875 |
1,031,711,661 |
|
Net Income |
2,053,869,341 |
6,061,570,747 |
9,639,314,281 |
Cash
Flows
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Cash Flows from Operating |
7,593,958,145 |
3,206,945,129 |
8,670,524,000 |
|
-Net Income |
2,053,869,341 |
6,061,570,747 |
9,639,314,281 |
|
-Exp. without Cash Outflow |
9,190,156,022 |
6,980,704,554 |
6,793,100,292 |
|
-Revenue
without Cash Inflows |
-387,111,690 |
-496,474,403 |
-3,465,564,461 |
|
-Changes in
Asset/ & Liability |
-3,262,955,528 |
-9,338,855,769 |
-4,296,326,112 |
|
Cash Flows
from Investing |
-18,690,853,681 |
-20,820,852,348 |
-16,783,215,831 |
|
-Cash Inflow
from Investing |
1,810,374,406 |
5,888,887,282 |
12,895,109,480 |
|
-Cash
Outflows for Investing |
-20,501,228,087 |
-26,709,739,630 |
-29,678,325,311 |
|
Cash Flows
from Financing |
11,065,065,712 |
16,806,979,840 |
9,825,214,862 |
|
-Cash
Inflows from Financing |
17,723,871,506 |
22,034,636,830 |
165,931,119,161 |
|
-Cash
Outflows from Financing |
-6,658,805,794 |
-5,227,656,990 |
-156,105,904,299 |
|
Increase/Decrease
in Cash |
-31,829,824 |
-806,927,379 |
1,712,523,031 |
|
Cash at the
Beginning of Year |
1,082,096,977 |
1,889,024,356 |
176,501,325 |
|
Cash at the
End of Year |
1,050,267,153 |
1,082,096,977 |
1,889,024,356 |
|
Main Products & Services |
PVC Stabilizer, Lead Compound, Fatty Acid |
|
Competitors |
SONGWON INDUSTRIAL CO., LTD. 737-2, YEOCHEON-DONG, NAM-GU, ULSAN, KOREA TEL:+82-52-273-9841 FAX:+82-52-272-3528 ADEKA KOREA CORP. 839, YONGAM-RI, BONGDONG-EUP, WANJU-GUN,
JEOLLABUK-DO, KOREA TEL:+82-63-262-7190 FAX:+82-63-262-7338 WORLDCHEM CORPORATION C-1910, DAELIM ACRO TOWN, 467-6, DOGOK
2-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-572-3987 FAX:+82-2-572-3981 |
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
DS CHEMTECH CO., LTD.(KOREA) DS PARK CO.(KOREA) |
|
Overseas Office |
DANSUK FINE CHEMICAL CO., LTD(CHINA
FACTORY) (100.0% held by the subject company) YULMU INDUSTRIAL PARK 51, ZHUZHOU HIGH AND NEW TECHNOLOGY INDUSTRY
DEVELOPMENT ZONE, HUNAN, CHINA TEL:+86-73-3299-1688~9 FAX:+86-73-3299-1690 |
|
Subsidiary |
DONGYOON INDUSTRIAL CO.,
LTD.(110111-0942064) (60.0% held by the subject company) DANSUK FINE CHEMICAL CO., LTD(CHINA
FACTORY) (100.0% held by the subject company) YULMU INDUSTRIAL PARK 51, ZHUZHOU HIGH AND NEW TECHNOLOGY INDUSTRY
DEVELOPMENT ZONE, HUNAN, CHINA TEL:+86-73-3299-1688~9 FAX:+86-73-3299-1690 |
|
Cooperative Enterprise |
DS CHEM CO. TEL:+82-2-575-0922 FAX:+82-2-575-0704 1322, HIBRAND BLDG., 215 YANGJAE-DONG
SEOCHO-GU, SEOUL, KOREA DOORI INTER CHEM TEL:+82-2-2168-4343 FAX:+82-2-2168-4346 2206, HYUNDAI 41 TOWER, 917-9 MOK-DONG,
YANGCHEON-GU, SEOUL, KOREA YUNGBOO CHEMICAL TEL:+82-32-678-5578~9 FAX:+82-32-678-6929 178-2 DODANG-DONG, WONMI-GU, BUCHEON-SI,
GYEONGGI-DO, KOREA JD CHEMICAL CO. TEL:+82-10-3062-5507 FAX:+82-31-430-1913 1367-1 JEONGWANG-DONG, SIHEUNG-SI, GYEONGGI-DO, KOREA HWAGONG INDUSTRY TEL:+82-2-3472-4467 FAX:+82-2-472-4468 414, KOREA BUSINESS CENTER 1338-21
SEOCHO-DONG, SEOCHO-GU, SEOU,L KOREA JAEIN CHEMICAL INDUSTRY 613, LIFECOMBI-BUILDING, 61-4, YEOUIDO-DONG, YEONGDEUNGPO-GU, SEOUL,
KOREA TEL:+82-2-784-4833 FAX:+82-2-784-4835 DANSUK TRADE CO. TEL:+82-51-642-9808 FAX:+82-51-632-1226 1711 HANIL OFFICETEL, 815MUNHYUN-4DONG, NAM-GU, BUSAN, KOREA DAIN CHEMICAL CO. 554-12, BUKJEONG-DONG, YANGSAN-SI, GYEONGSANGNAM-DO, KOREA TEL:+82-55-364-9390 FAX:+82-55-364-9392 -Insured Company HANWHA NON-LIFE INSURANCE CO., LTD.(110111-0006456) |
(Activity & Markets)
|
Sales/ Unit : KRW |
2011 |
2010 |
2009 |
|
Export |
72,291,316,523 |
51,202,778,786 |
46,110,813,529 |
|
Domestic |
212,510,694,929 |
151,484,506,750 |
119,744,224,337 |
|
Others |
271,293,242 |
318,712,363 |
482,963,764 |
|
Total |
285,073,304,694 |
203,005,997,899 |
166,338,001,630 |
The subject deals
with the companies in China.
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.08 |
|
|
1 |
Rs.83.12 |
|
Euro |
1 |
Rs.72.02 |
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.