MIRA INFORM REPORT

 

 

Report Date :

07.11.2013

 

IDENTIFICATION DETAILS

 

Name :

DAEWOO ENGINEERING & CONSTRUCTION CO., LTD.

 

 

Registered Office :

57, Sinmunno 1-ga, Jongno-gu, Seoul, Korea

 

 

Country :

South Korea

 

 

Financials (as on) :

30.06.2013

 

 

Date of Incorporation :

27.12.2000

 

 

Com. Reg. No.:

104-81-58180

 

 

Legal Form :

Listed Company

 

 

Line of Business :

Subject is engaged in building Construction, Civil Engineering & Construction, Plant Construction, Foreign Countries Construction.

 

 

No. of Employees :

6,248

 

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 :

Exist

 

 

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, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

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 is currently the world's 12th largest economy. 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. Korea''s export focused economy was hit hard by the 2008 global economic downturn, but quickly rebounded in subsequent years, reaching 6.3% growth in 2010. The US-South Korea Free Trade Agreement was ratified by both governments in 2011 and went into effect in March 2012. Throughout 2012 the economy experienced sluggish growth because of market slowdowns in the United States, China, and the Eurozone. The incoming administration in 2013, following the December 2012 presidential election, is likely to face the challenges of balancing heavy reliance on exports with developing domestic-oriented sectors, such as services. 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

 

Basic Information

 

Basic

 

Company Name

DAEWOO ENGINEERING & CONSTRUCTION CO., LTD.

(Trade Name : DAEWOO E&C)

(Korean Company Name : “(주)대우건설”)

Registered Address

57, Sinmunno 1-ga, Jongno-gu, Seoul, Korea

Building

Kumho Asiana First Tower

Zip Code

110-713

Tel

+82-2-2288-3114

Fax

+82-2-2288-3113

E-mail

etjeong@mail.dwconst.co.kr

Website

www.daewooencir.co.kr;www.dwconst.co.kr

Trading Address

Kumho Asiana First Tower, 57, Sinmunno 1-ga, Jongno-gu, Seoul, Korea

Tel

+82-2-2288-3114

Fax

+82-2-2288-3113

Other Address-Jungbu Branch

1143-6, Guwol-dong ,Namdong-gu, Incheon, Korea

Tel

+82-32-434-9802~3

Fax

+82-32-434-9804

Other Address-Chungcheong Branch

931, Dunsan-dong, Seo-gu, Daejeon, Korea

Tel

+82-42-603-2700~2

Fax

+82-42-603-2706

Other Address-Honam Branch

1208, Chipyeong-dong, Seo-gu, Gwangju, Korea

Tel

+82-62-372-0485

Fax

+82-62-372-0487

Other Address-Youngnam Branch

828-1, Beomil 2-dong, Dong-gu, Busan, Korea

Tel

+82-51-637-2325~6

Fax

+82-51-637-2328

Other Address-Technology R&D Center

60, Songjuk-dong, Jangan-gu, Suwon-si, Gyeonggi-do, Korea

Tel

+82-31-250-1111

Fax

+82-31-250-1130

Other Address-Royal Prime Branch

76, Dangsan-dong 3-ga, Yeongdeungpo-gu, Seoul, Korea

Tel

+82-2-2677-5071~3

Fax

+82-2-2678-2540

Other Address-Customer Service Center

12FL., Kumho Asiana First Tower, 57, Sinmunno 1-ga, Jongno-gu, Seoul, Korea

Tel

+82-2-2288-5467

Fax

 

Other Address-Prugio Valley

831-21, Yeoksam-dong, Gangnam-gu, Seoul, Korea

Tel

+82-2-556-5218

Fax

+82-556-5243

Type

Export

Industry

Apartment Building Construction

  Main Business

Building Construction, Civil Engineering & Construction, Plant Construction, Foreign Countries Construction

  Sub Business

Construction of Industrial Plants

Established (mm/dd/yyyy)

12/27/2000

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

General building construction(72130000)

Sell

Commercial or industrial construction(72131600)

Sell

Residential construction(72131500)

Sell

Renovation of buildings or landmarks or monuments(72102801)

 

CEO’s

 

Name

Park Young-Sik

Address

-

Date of Birth

01/08/1958

Title

President & CEO

Sex

Male

Nationality

Korean

 

Profiles

 

Capital (KRW)

2,078,113,190,000

Employees

6,248

Formation

Listed Company (Korea Stock Exchange : 047040) as of 03/23/2001

A Company of KUMHO ASIANA BUSINESS GROUP

Bank Details

Woori Bank-Daewoo Center Branch

Kookmin Bank

Shinhan Bank

Corporate Registered No.

110111-2137895

Business Registered No.

104-81-58180

Permit & Licenses

02/2004 NT Mark

 

Int’l Trade No.: 11860406

Shareholder Position

Name

Shares

%

KDB VALUE VI LLC(110114-0095396)

210,931,209

50.75

SEBT INVESTMENT CO., LTD.(110114-0114766)

51,042,007

12.28

EMPLOYEE STOCK OWNERSHIP ASSOCIATION

2,456,275

0.59

TREASURY STOCK

4,736,918

1.14

OTHERS

146,456,229

35.24

TOTAL

415,622,638

100.00

Company History

03/15/2000 Daewoo corporation has been launched of Corporate Work-Out program

11/15/2002 Approved Corporate Work-Out Program

12/27/2000 The subject has been established after spin-off from Engineering & Construction Division of Daewoo Corporation

12/30/2003 Finished Work-Out procedure

08/2005~10/2005 Due Diligence

06/22/2006 Selected as a preferable negotiation partner for selling the business to Kumho Asiana Consortium

12/15/2006 Completed the Corporate Selling Procedure, and joined as a Company of KUMHO ASIAN BUSINESS GROUP

10/01/2008 Moved to the present HQ address from 541, Namdaemunno 5-ga, Jung-gu, Seoul, Korea

 

 

Detailed Information

 

Management

 

Job Description

Title

Name

Nationality

Date of Birth

Education/Career

President & CEO

Mr.

Park Young-Sik

Korean

1958.01.08

Seoul National University, Korea

Vice President & CFO

Mr.

Cho Hyun-Ik

Korean

1955.09.15

Yonsei University, Korea

Outside Director

Mr.

Park Song-Ha

Korean

1946.03.08

Korea University, Korea

Outside Director/Auditor

Mr.

Park Doo-Ik

Korean

1947.06.09

Youngnam University, Korea

Prof., of Youngnam University, Korea

Outside Director/Auditor

Mr.

Kwon Soon-Jik

Korean

1950.03.01

Korea University, Korea

Chairman of MPC21

Outside Director

Mr.

Jung Sun-Tae

Korean

1956.01

Seoul National University, Korea

Director

Mr.

Kim Hyung-Jong

Korean

1957.09

Hongik University, Korea

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

(*)06/2013

4,341,227,200,611

9,680,042,588,644

81,103,336,801

(*)2012

8,180,269,588,541

9,357,599,738,384

159,398,691,603

(*)2011

7,031,863,671,636

8,984,781,744,013

226,757,457,651

(*)2010

6,719,062,404,701

9,459,488,514,541

-813,601,495,274

2009

7,097,386,791,235

8,841,020,839,053

80,003,012,856

2008

6,577,701,384,989

9,242,052,104,004

247,004,263,829

2007

6,066,558,685,280

6,703,413,327,233

938,029,876,945

2006

5,729,108,782,452

6,084,686,674,939

438,298,114,675

2005

 5,075,640,309,513

5,601,512,692,824

 406,718,287,113

2004

4,780,398,484,836

5,216,865,369,773

247,798,151,805

2003

4,231,084,197,224

5,300,933,295,029

163,744,574,085

(*)Figures are based on the K-IFRS Accounting System.

 

Financial Description

 

Authorized Capital(KRW)

3,500,000,000,000

Paid-Up Capital(KRW)

2,078,113,190,000

Total Issues Shares

415,622,638

 

 

Balance Sheet

 

Unit : Korean Won

01/01/2013~06/30/2013

As of 12/31/2012

As of 12/31/2011

Total Assets

9,680,042,588,644

9,357,599,738,384

8,984,781,744,013

Current Assets

6,701,925,159,132

6,316,473,450,384

5,812,856,082,404

Cash & Cash Equivalents

392,674,658,548

323,571,800,330

645,194,363,859

Current Financial Instruments

53,111,773,198

22,412,861,844

42,766,578,709

Trade Receivables

3,041,411,147,337

2,712,474,621,635

2,594,474,234,446

Other Receivables

823,370,293,654

887,791,959,437

765,504,795,197

Advance Payments

769,056,459,045

567,330,036,123

371,115,879,582

Prepaid Expenses

336,094,236,789

332,437,374,591

354,278,879,167

Inventories

948,906,202,470

1,076,150,234,037

712,517,302,200

Assets to be Sold

337,300,388,091

394,304,562,387

327,004,049,244

Non-Current Assets

2,978,117,429,512

3,041,126,288,000

3,171,925,661,609

Investment_Related Companies

435,418,793,209

457,889,662,636

472,353,298,254

Non-Current Financial Instruments

21,500,000

1,850,555,963

164,675,206,630

Other Financial Assets

688,619,489,132

715,941,694,779

731,037,871,285

Other Receivables

859,029,858,345

849,436,348,042

794,976,817,025

Advance Payments

32,951,862,822

31,321,553,881

41,469,819,932

Investment_Real Estates

188,692,585,961

189,874,296,854

192,237,718,640

Tangibles

188,630,656,036

175,340,658,909

180,491,325,576

Intangibles

79,270,974,316

82,205,521,082

68,943,698,014

Deferred Income Tax Assets

505,481,709,691

537,265,995,854

525,739,906,253

Total Liabilities

6,157,945,620,169

5,961,929,934,440

5,624,335,504,207

Current Liabilities

3,897,991,208,636

3,996,094,300,746

3,577,246,661,260

Other Current Financial Debts

1,131,532,649,096

1,363,845,527,607

931,049,586,652

Trade Payables

490,433,669,569

465,412,413,731

672,072,586,668

Other Payables

853,282,561,022

890,948,377,749

784,021,879,448

Advance Receipts

1,255,559,074,650

1,081,619,749,537

1,036,604,708,233

Withholdings

106,401,648,801

99,969,228,873

83,678,953,879

Guarantee Deposit Withhold

55,829,156,943

45,581,999,445

40,086,010,334

Deferred Income Tax

4,952,448,555

48,717,003,804

29,732,936,046

Non-Current Liabilities

2,259,954,411,533

1,965,835,633,694

2,047,088,842,947

Other Non-Current Financial Debts

1,280,252,452,994

1,199,616,979,757

1,060,260,218,583

Advance Receipts

552,728,745,159

433,732,341,161

723,155,042,272

Long-Term Provisions

184,694,510,405

135,929,383,235

108,874,819,733

Guarantee Deposit Withhold

53,362,874,188

29,370,581,134

26,252,811,747

Provision for Severance & Retirement

188,915,828,787

167,186,348,407

128,545,950,612

Capital Stock

2,078,113,190,000

2,078,113,190,000

2,078,113,190,000

Capital Surplus

548,200,217,905

548,200,217,905

548,200,217,905

Others

-99,173,814,034

-99,173,814,034

-99,173,814,034

Installments

-12,275,527,903

-57,897,291,397

43,230,932,792

Profit Surplus

1,007,232,902,507

926,427,501,470

790,075,713,143

Total Equity

3,522,096,968,475

3,395,669,803,944

3,360,446,239,806

Liab. & Shareholder’s Equity

9,680,042,588,644

9,357,599,738,384

8,984,781,744,013

 

 

Income Statement

 

Unit : Korean Won

01/01/2013~06/30/2013

As of 12/31/2012

As of 12/31/2011

Sales

4,341,227,200,611

8,180,269,588,541

7,031,863,671,636

Cost of Sold Goods

3,927,870,035,296

7,374,679,378,282

6,363,201,660,579

Gross Profit

413,357,165,315

805,590,210,259

668,662,011,057

Selling & Admin. Expenses

195,695,693,802

440,374,416,614

357,604,309,301

Operating Income

217,661,471,513

365,215,793,645

311,057,701,756

Other Operating Income

201,681,031,552

347,776,307,321

404,317,208,731

Other Operating Expenses

266,465,630,510

420,328,110,711

341,161,668,838

Finance Income

18,319,294,214

41,661,883,632

63,213,166,020

Finance Expenses

56,934,372,862

118,776,024,879

177,212,755,574

Income Before Taxes

114,261,793,907

215,549,849,008

260,213,652,095

Income Taxes Expenses

33,158,457,106

56,151,157,405

33,456,194,444

Net Income

81,103,336,801

159,398,691,603

226,757,457,651

 

 

Cash Flows

 

Unit : Korean Won

01/01/2013~06/30/2013

As of 12/31/2012

As of 12/31/2011

Operating Activities Cash Flows

4,660,748,470

-1,210,053,584,752

-61,856,668,719

Cash Flows from Operating

71,084,754,163

-1,127,581,114,091

-6,411,456,263

Interests Received

15,377,521,919

43,112,341,592

57,438,216,841

Interests Paid

-42,754,959,391

-86,692,116,369

-125,672,271,461

Income Taxes

-46,283,142,821

-48,104,266,547

1,156,915,632

Dividends Received

7,236,574,600

9,211,570,663

11,631,926,532

Cash Flows from Investing

268,953,172,918

115,145,382,121

947,253,493,202

Cash Inflow from Investing

463,316,152,609

991,405,744,089

1,655,190,270,062

Cash Outflows for Investing

-194,362,979,691

-876,260,361,968

-707,936,776,860

Cash Flows from Financing

-204,426,323,314

774,020,567,587

-700,515,129,493

Cash Inflows from Financing

593,976,000,000

2,343,748,000,000

1,614,804,254,357

Cash Outflows from Financing

-798,402,323,314

-1,569,727,432,413

-2,315,319,383,850

Increase/Decrease in Cash

69,102,858,218

-321,622,563,529

184,863,125,388

Cash at the Beginning of Year

323,571,800,330

645,194,363,859

460,331,238,471

Cash at the End of Year

392,674,658,548

323,571,800,330

645,194,363,859

 

Products, Technologies, Services Description

 

Main Products & Services

The Subject Company provides engineering and construction services to the civil and housing, power and industrial plants, architecture, liquefied natural gas (LNG) facilities, and overseas projects. It operates in four divisions: Civil Business division, Plant Business division, Building Works division, and Housing Business division.

 

The Civil Business division’s activities include construction of highway roads, railways, water supply and drainage system, leisure facilities, and harbors. The Plant Business division engages in construction of power plants, LNG handling plants, and gas transportation pipelines.

 

The Building Works division constructs office building, hotel/leisure/commercial complex, educational/medical facilities, exhibition and physical center, residential and commercial complex, transportation/conference system, and factory buildings.

 

The Housing Business division’s activities include construction of apartments, redevelopment/reconstruction, and villa and resort. It offers its services for oil and gas, power, industrial, environmental, transportation, harbor/dam, building, and housing sectors.

Detailed Products Spec.

 

Technologies Acquired

 

 

Trade Partners & Competitors

 

Suppliers

HYUNDAI STEEL COMPANY(120111-0001743)

DONGKUK STEEL MILL CO., LTD.(110111-0031338)

EUGENE CORPORATION(110111-0376148)

SAMPYO CORPORATION(110111-0073314)

Customers

LAND TRANSPORT AUTHORITY

GENERAL ELECTRICITY COMPANY OF LIBYA

TSKJ

SAKHALIN ENERGY INVESTMENT CO.

NAOC

MOBIL PRODUCING NIGERIA UNLIMITED(JGC)

QATAR PETROLIUM

QATAR CHEMICAL COMPANY LTD.

SPDC

YEMEN LNG COMPANY LTD.

SHELL PETROLEUM DEVELOPMENT COMPANY OF NIGERIA LIMITED (SPDC)

Competitors

HYUNDAI ENGINEERING & CONSTRUCTION CO., LTD.(110111-0007909)

140-2, GYE-DONG, JONGNO-GU, SEOUL, KOREA

TEL:+82-2-746-1114  FAX:+82-2-746-3333

 

GS ENGINEERING & CONSTRUCTION CORPORATION(110111-0002694)

537, NAMDAEMUNNO 5-GA, JUNG-GU, SEOUL, KOREA

TEL:+82-2-728-1112~3FAX:+ 82-2-728-1203

 

SAMSUNG C & T CORPORATION(110111-0002975)

1321-20, SEOCHO 2-DONG, SEOCHO-GU, SEOUL, KOREA

TEL:+82-2-2145-2114  FAX:+82-2-2145-3114

 

DAELIM INDUSTRIAL CO., LTD.(110111-0084915)

DAELIM BLDG., 146-12, SUSONG-DONG, JONGNO-GU, SEOUL, KOREA

TEL:+82-2-2011-7114  FAX:+82-2-2011-8000

 

Related Parties (Subsidiaries, Joint-Venture & Affiliates)

 

Affiliates-Domestic

KUMHO INDUSTRIAL CO., LTD(110111-0134877)

KOREA KUMHO PETRO CHEMICAL CO., LTD(110111-0205975)

KUMHO TIRE CO., LTD.(110111-2810590)

ASIANA AIRLINES INC.(110111-0562804)

KUMHO TRADING CO., LTD.(110111-2079641)

KUMHO RENT-A-CAR CO., LTD.(110111-0513253)

KUMHO MITSUI CHEMICALS, INS.(110111-0612980)

KUMHO LIFE INSURANCE CO., LTD.(200111-0014608)

KUMHO POLYCHEM CO., LTD.(110111-0400533)

KUMHO P&B CHEMICALS, INC.(206211-0018313)

KUMHO ASIANA MAIN TOWER CO., LTD.(110111-3207712)

SEOUL EXPRESS BUS TERMINAL CO., LTD.(110111-0187644)

ASIANAIDT, INC.(110111-0801848)

ASIANA AIRPORT DEVELOPMENT CO., LTD.(110111-1412496)

ASIANA ABACUS , INC.(110111-3010925)

INCHEON AIRPORT ENERGY CO., LTD.(110111-1415408)

JUNG-BU INTEGRATED FREIGHT TERMINAL CO., LTD.(110111-3284158)

CHUNGJU BORAMAE CO., LTD.(110111-3348524)

KUMHO TERMINAL CO., LTD.(200111-0231418)

KUMHO RESORT CO., LTD(134511-0105856)

GK FIXED LINK CORP(180111-0443224)

AAS AIRPORT SERVICES. INC(110111-0562713)

KUMHO AUTOLEASE, INC.(110111-3626970)

ILSAN GRAND BRIDGE CORP.(110111-2576192)

SOUTHWEST COAST LEISURE COMPANY(205511-0024878)

GREEN ANSEONG ENVIRO CO., LTD(110111-3780833)

SONGNISAN EXPRESS CO., LTD.(150111-0000286)

THE KOREA EXPRESS TERMINAL CO., LTD.(110111-1726227)

KOREA EXPRESS INFORMATION TECHNOLOGY CO., LTD(110111-2230417)

GWANGYANG WEST CONTAINER TERMINAL CO., LTD.(110111-3547514)

DAEHAN YONGYOK CO., LTD.

KOREA INTEGRATED FREIGHT TERMINAL CO., LTD(110111-0853576)

BUSAN EAST CONTAINER TERMINAL CO., LTD.(180111-0101252)

PECT NEW CONTAINER TERMINAL CO., LTD.(180111-0449579)

DONG SEOK LOGISTICS CO., LTD.(144711-0009135)

TERMINAL OPERATING CO., LTD OF MASAN PORT-PIER 4(194211-0035362)

BUSAN GAMMAN CONTAINER TERMINAL CO., LTD.(180111-0560234)

BND CO., LTD.(164811-0005799)

ULSAN PORT OPERATING CO., LTD.(230111-0057769)

INCHEON SOUTH TERMINAL OPERATION COMPANY(120111-0426305)

KE-CATI LOGISTICS CO., LTD(204611-0024273)

CNK WORLD LOGISTICS CO., LTD(110111-3638496)

AIR BUSAN CO., LTD(180111-0605121)

HANGANG TOWN(110111-3937260)

KOREA EXPRESS CO., LTD(110111-0006167)

(23.95% held by the subject company)

 

GANGWHA TIDE POWER GENERATION CO., LTD.(120111-0521692)

(*) As of 04/01/2010, it joined as an affiliated company.

Affiliates-Overseas

 

DW ARABIA LTD.

(60.0% held by the subject company)

 

DW CONSTRUCTION PHILIPPINE INC.

(40.0% held by the subject company)

 

DW ENG & CON POLAND LTD.

(51.0% held by the subject company)

 

DW NIGERIA LTD.

(80.0% held by the subject company)

 

UNION DW ENG & CON LTD.

(49.0% held by the subject company)

 

DAEWOO-HANEL CORP.

(60.0% held by the subject company)

 

DAEWOO E & C IRAN

(100.0% held by the subject company)

 

PRUGIO SAKHALIN LTD.

(100.0% held by the subject company)

 

HECO(HELVETIA ENERGY COMPANY GMBH)

(95.0% held by the subject company)

 

AL-HIDAYAH-DAEWOO DEVELOPMENT SDN.BHD

(50.0% held by the subject company)

Affiliates-Overseas

DW AMERICA DEVEL'T INC.

(100.0% held by the subject company)

40 WALL STREET 25TH FLOOR,  NY, NY10005 USA

 

DW ENG & CON.(M) SDN BHD

(100.0% held by the subject company)

 

DW POWER(INDIA) LTD.

(50.0% held by the subject company)

46, EAST END ENCLAVE NEAR LAXMI NAGAR 2ND FLOOR,  DELHI - 110 092, INDIA

 

MEGAWORLD-DW CO.

(40.0% held by the subject company)

 

BEIJING LUFTHANSA CENTER CO.

(25.0% held by the subject company)

 

DAEHA CO., LTD.

(70.0% held by the subject company)

5TH FLOOR, OFFICE TOWER, DAEHA  BUSINESS CENTER, 360 KIM MA  STREET, BA DINH DISTRICT,  HANOI, VIETNAM

 

GUILIN DW HOTEL CO., LTD.

(90.0% held by the subject company)

BINJIANG NAN ROAD,GUILIN CITY,  GUANGXI PROVINCE, CHINA

 

GULF ENG.CONST. & CONTRACT

(49.0% held by the subject company)

 

THT DEVELOPMENT CO.,LTD

(20.0% held by the subject company)

 

DAEWOO TRIPOLI INVESTMENT & DEVELOPMENT CO.

(60.0% held by the subject company)

OFFICE NO.38, AL-FATEH TOWER,  TRIPOLI, LIBYA

 

KUMHO HOLDINGS (H.K.) CO., LTD

(24.24.0% held by the subject company)

 

SAIPAN LAULAU DEVELOPMENT,INC.

(100.0.0% held by the subject company)

PMB 1010 P.O. BOX 10000 KAGMAN III, SAIPAN

Overseas Office

JAPAN

RUSSIA

IRAN

PHILIPPINES

ARAB EMIRATES

VIETNAM

INDONESIA

SINGAPORE

MALAYSIA

UK

KAZAKHSTAN

PAKISTAN

QATAR

Liaison Office

 

Overseas Branch

 

Joint Venture

 

Subsidiary

KUMHO ENVIROTECH CO., LTD.(110111-1799703)

(100.0% held by the subject company)

 

PRUGIO SERVICE CO., LTD.(110111-1675276)

(100.0% held by the subject company)

 

KOREA ROAD MANAGEMENT CO., LTD.(200111-0072416)

(100.0% held by the subject company)

 

KUMHO STEEL TECH CO., LTD(154311-0016706)

(100.0% held by the subject company)

 

BUGOK ENVIRONMENT CO., LTD.(135211-0016488)

(100.0% held by the subject company)

 

KUMHO SONGDO HOTEL CO., LTD.(120111-0451998)

(100.0% held by the subject company)

Corporate Ownership

 

Major Shareholders

 

Cooperative Enterprise

-Insured Company

HANWHA NON-LIFE INSURANCE CO., LTD.(110111-0006456)

 

Sales by Region (Activity & Markets)

 

Sales/ Unit :Mil KRW

2010

2009

2008

Export

1,834,349

2,038,225

1,578,767

Domestic

4,779,209

4,870,498

4,684,913

Others

120,727

188,666

314,022

Total

6,734,285

7,097,389

6,577,702

The Subject provides services through Qatar, Libya, Yemen, Algeria and Middle East.

 

Court Action

 

Case No.

Court

Plaintiff(s)/ Creditor(s)/ Applicant(s)

Defendant(s)/ Debtor(s)/ Respondent(s)

Cause

Amount (Million KRW)

Status

 

 

Seoul Metro

The Subject & Others(5)

Claim for Damages

47,717

Proceeding

 

 

Park Moon-Soo & Others(1)

The Subject

Claim for Damages

45,000

Proceeding

 

 

Dongbu Pusan Container Terminal Co., Ltd(180111-0356013)

The Subject & Others(2)

Claim for Damages

37,122

Proceeding

 

 

Korea Container Terminal Authority(184171-0000016)

The Subject & Others(3)

Claim for Damages

20,032

Proceeding

 

 

Woori LB Seventh Asset Securitization(110114-0042313)

The Subject

Cancellation on Fraud Action

17,423

Proceeding

 

 

Indusbank Limited

The Subject & Others(2)

Claim for Guarantee Debts

14,600

Proceeding

 

 

Kang Moon-Ho & Others(521)

The Subject & Others(1)

Claim for Damages

9,824

Proceeding

 

 

Endenver Co., Ltd.

The Subject & Others(2)

Claim for Refund on Debentures

9,000

Proceeding

 

 

Grand Departmentstore Co., Ltd.(110111-0252405)

The Subject

Confirmation of not existing debts

8,681

Proceeding

 

 

The Subject

USA

Claim for Damages

US$63,978,000

Proceeding

 

 

The Subject

MPSEB, CSEB

Claim for Refund of the Deposited Money for Application

US$19,839,985

Proceeding

 

 

The Subject

WCMO

Claim for increasing agreement amount

16,700

Proceeding

 

 

The Subject

Samsung C&T Corporation(110111-0002975)

Claim for Invested Amount

7,917

Proceeding

 

 

The Subject & Others(3)

Korea Rail Network Authority

Claim for increasing agreement amount

6,620

Proceeding

 

 

The Subject & Others(3)

Jinju City & Others(1)

Claim for Account Receivables-Construction

5,480

Proceeding

 

 

The Subject & Others(3)

Korea Rail Network Authority

Claim for increasing agreement amount

3,136

Proceeding

 

 

The Subject & Others(2)

SOSFO

Claim for Account Receivables-Construction

2,987

Proceeding

(*)As of 12/31/2010, there are 49 cases filed as Plaintiff(s)/ Creditor(s)/ Applicant(s) amounting 96,648,000,000 KRW, and 183 cases as Defendant(s)/ Debtor(s)/ Respondent(s) amounting 232,181,000,000 KRW.

 

News Clipping

 

--

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.92

UK Pound

1

Rs.99.60

Euro

1

Rs.83.64

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIS

 

 

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.