MIRA INFORM REPORT

 

 

Report Date :

11.11.2013

 

IDENTIFICATION DETAILS

 

Name :

DEUNG DAE GRAVURE CO.

 

 

Registered Office :

490-3, Bugyang-dong, Hwaseong-si, Gyeonggi-do, Korea 445-040

 

 

Country :

South Korea

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

01.12.1996

 

 

Com. Reg. No.:

124-28-79073

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Decoration Paper

 

 

No. of Employees :

8

 

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 :

Unknown

 

 

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, 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

DEUNG DAE GRAVURE CO.

Registered Address

490-3, Bugyang-dong, Hwaseong-si, Gyeonggi-do, Korea

Zip Code

445-040

Tel

+82-31-355-7441

Fax

+82-31-355-7443

E-mail

dgmoon04@yahoo.co.kr;dg-moon@hanmail.net

Trading Address

490-3, Bugyang-dong, Hwaseong-si, Gyeonggi-do, Korea

Tel

+82-31-355-7441

Fax

+82-31-355-7443

Type

Import

Industry

Other Printing

  Main Business

Decoration Paper

Established (mm/dd/yyyy)

12/01/1996

Mr. Mun Nam-Gyu owns the premises of registered HQ address.

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Wrap or tag or label or seal or bag printing(82121508)

Sell

Paperboard and packaging papers(14121500)

Sell

Pneumatic cylinders(27131701)

Sell

Printing and drawing inks(60121800)

 

 

CEO’s

 

Name

Mun Nam-Gyu

Date of Birth

04/06/1951

Title

Owner

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

Not Applicable to the Sole Proprietorship

Employees

8

Formation

Sole Proprietorship

Bank Details

Shinhan Bank-anyang Central Branch

Corporate Registered No.

Not Applicable to the Sole Proprietorship

Business Registered No.

124-28-79073

Permit & Licenses

Int’l Trade No.: 21026650

Shareholder Position

The owner has 100% shares.

Company History

12/01/1996 Established as the present name

06/2003 Moved to the present HQ address from 148-2, Gian-dong, Hwaseong-si, Gyeonggi-do, Korea

 

 

Detailed Information

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

Owner

Mr.

Mun Nam-Gyu

Male

Korean

12/01/1996

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2012

 

 

 

2011

2,372,046,000

3,208,489,000

-192,728,000

2010

2,420,690,000

3,774,513,000

102,387,000

2009

3,145,272,000

3,727,452,000

179,897,000

2008

2,270,000,000

 

 

2007

1,893,849,000

3,289,167,000

91,126,000

2006

1,800,900,000

3,096,760,000

79,549,000

2005

1,959,238,000

3,075,482,000

95,117,000

2004

1,425,000,000

2,620,000,000

52,000,000

2003

1,950,000,000

2,489,000,000

70,000,000

The latest financials are not available, and the Subject Company does not have any obligations to release its financials to the public.

 

 

Financial Description

 

Authorized Capital(KRW)

Not Applicable to the Sole Proprietorship

Paid-Up Capital(KRW)

Not Applicable to the Sole Proprietorship

Total Issues Shares

Not Applicable to the Sole Proprietorship

 

Balance Sheet

Unit : Korean Won

As of 12/31/2011

As of 12/31/2010

As of 12/31/2009

Total Assets

3,208,489,000

3,774,513,000

3,727,452,000

Current Assets

1,176,490,000

1,058,082,000

1,505,430,000

-Quick Assets

-

-

-

-Inventories

-

-

-

Fixed Assets

2,031,999,000

2,716,431,000

2,222,022,000

-Investment

-

-

-

-Tangibles

-

-

-

-Intangibles

-

-

-

Total Liabilities

2,108,445,000

2,327,589,000

2,533,315,000

Current Liabilities

265,725,000

145,869,000

1,520,595,000

Fixed Liabilities

1,842,720,000

2,181,720,000

1,012,720,000

Capital Stock

806,640,000

999,368,000

896,981,000

Capital Surplus

-

-

-

Profit Surplus

-

-

-

Capital Adjustment

293,404,000

447,556,000

297,156,000

Total Equity

1,100,044,000

1,446,924,000

1,194,137,000

Liab. & Shareholder’s Equity

3,208,489,000

3,774,513,000

3,727,452,000

 

Income Statement

Unit : Korean Won

As of 12/31/2011

As of 12/31/2010

As of 12/31/2009

Sales

2,372,046,000

2,420,690,000

3,145,272,000

Cost of Sold Goods

2,336,953,000

2,083,302,000

2,731,030,000

Gross Profit

35,093,000

337,388,000

414,242,000

Selling & Admin. Expenses

95,571,000

107,439,000

111,395,000

Operating Income

-60,478,000

229,949,000

302,847,000

Non-Operating Income

16,000

-

-

Non-Operating Expenses

122,163,000

106,372,000

110,983,000

Income Before Taxes

-182,625,000

123,577,000

191,864,000

Income Taxes Expenses

10,103,000

21,190,000

11,967,000

Net Income

-192,728,000

102,387,000

179,897,000

 

Cash Flows

Unit : Korean Won

As of 12/31/2011

As of 12/31/2010

As of 12/31/2009

Cash Flows from Operating

 

 

 

-Net Income

 

 

 

-Exp. without Cash Outflow

 

 

 

-Revenue without Cash Inflows

 

 

 

-Changes in Asset/ & Liability

 

 

 

Cash Flows from Investing

 

 

 

-Cash Inflow from Investing

 

 

 

-Cash Outflows for Investing

 

 

 

Cash Flows from Financing

 

 

 

-Cash Inflows from Financing

 

 

 

-Cash Outflows from Financing

 

 

 

Increase/Decrease in Cash

1,012,720,000

35,669,000

40,950,000

Cash at the Beginning of Year

-

-

-

Cash at the End of Year

109,075,000

116,721,000

81,986,000

 

 

 

Products, Technologies, Services Description

 

Main Products & Services

Decoration Paper

 

 

Trade Partners & Competitors

 

Competitors

SEONGJI LAMITECH INC.

602-3, GAJWA-DONG, SEO-GU, INCHEON, KOREA

TEL:+82-32-572-1800  FAX:+82-32-572-5857

 

IMKYE TRADING CORPORATION

3RD FL., USONG BLDG., 273-15, NONHYEON 2-DONG, GANGNAM-GU, SEOUL, KOREA

TEL:+82-2-517-1381~5  FAX:+82-2-517-1182

 

KOREA GRAVURE CO., LTD.

464-2, CHEONGYONG-RI, SAMSEONG-MYEON, EUMSEONG-GUN, CHUNGCHEONGBUK-DO, KOREA

TEL:+82-43-878-6441  FAX:+82-43-878-6443

 

 

Sales by Region (Activity & Markets)

 

Sales/ Unit :Mil KRW

2012

2011

2010

Export

 

 

 

Domestic

 

 

 

Total

 

 

 

The Subject imports from Germany.

 

 

News Clipping

 

Not Available.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.73

UK Pound

1

Rs.100.92

Euro

1

Rs.84.06

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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.