|
Report Date : |
12.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
DYM CO., LTD. |
|
|
|
|
Formerly Known As : |
DAEYANG MATERIAL CO., LTD |
|
|
|
|
Registered Office : |
624-2, Eopseong-dong, Seobuk-gu, Cheonan-si, Chungcheongnam-do, Korea, Zip Code 331-290 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
19.10.1992 |
|
|
|
|
Com. Reg. No.: |
312-81-17816 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Manufacturer of Synthetic Resin and Other Plastic Materials |
|
|
|
|
No. of Employees : |
100 |
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 : |
Slow but Correct |
|
|
|
|
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 |
|
Company
Name |
DYM CO., LTD. (Korean Company Name : “(주)디와이엠”) |
|
Registered Address |
624-2, Eopseong-dong, Seobuk-gu, Cheonan-si, Chungcheongnam-do, Korea |
|
Zip Code |
331-290 |
|
Tel |
+82-41-621-6250 |
|
Fax |
+82-41-621-8420 |
|
E-mail |
|
|
Website |
|
|
Trading
Address |
624-2, Eopseong-dong, Seobuk-gu,
Cheonan-si, Chungcheongnam-do, Korea (New Address System : 50, 2gongdan 8-gil, Seobuk-gu, Cheonan-si, Chungcheongnam-do,
Korea) |
|
Tel |
+82-41-621-6250 |
|
Fax |
+82-41-621-8420 |
|
Other
Address-1st Factory |
282, Yulgeum-ri, Seonghwan-eup, Seobuk-gu, Cheonan-si,
Chungcheongnam-do, Korea |
|
Tel |
+82-41-582-2460 |
|
Fax |
+82-41-582-0164 |
|
Other
Address-2nd Factory |
5-4, Chaam-dong, Seobuk-gu, Cheonan-si, Chungcheongnam-do, Korea |
|
Tel |
+82-41-621-5811~2 |
|
Fax |
+82-41-621-5813 |
|
Type |
Export/Import |
|
Industry |
Manufacture
of Synthetic Resin and Other Plastic Materials |
|
Main Business |
Rubber
Compound, Semiconductor Compound, HFFR |
|
Established (mm/dd/yyyy) |
10/19/1992 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Resins(13111000) |
|
Sell |
Processed and synthetic rubber(13101600) |
|
Sell |
Electronic Components and Supplies(32000000) |
|
Name |
Park
Dong-Ha |
|
Address |
Suite 608-2501, 6, Jeongja-dong,
Bundang-gu, Seongnam-si, Gyeonggi-do, Korea |
|
Date of Birth |
10/11/1955 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
2,400,000,000 |
|||||||||||||||||||||
|
Employees |
100 |
|||||||||||||||||||||
|
Formation |
Co., Ltd by Shares Venture
Business |
|||||||||||||||||||||
|
Bank Details |
Industrial Bank of Korea-Cheonan Branch Korea Exchange Bank-Cheonan Industrial
Complex Branch |
|||||||||||||||||||||
|
Corporate Registered No. |
120111-0079584 |
|||||||||||||||||||||
|
Business Registered No. |
312-81-17816 |
|||||||||||||||||||||
|
Permit & Licenses |
06/23/2006 ISO 9001 07/07/2006 ISO 14001 Int’l
Trade No.: 11331441 |
|||||||||||||||||||||
|
Shareholder Position |
|
|||||||||||||||||||||
|
Company History |
10/19/1992 Incorporated as DAEYANG MATERIAL CO., LTD. 06/2000 Designated as a Venture Business 07/2001 Awarded US$ 5 Million Export Top
Prize 11/2005 Awarded US$ 10 Million Export Top
Prize 11/23/2005 Moved to the present HQ address
from 282, Yulgeum-ri, Seonghwan-eup, Seobuk-gu, Cheonan-si,
Chungcheongnam-do, Korea 11/2006 Awarded US$ 20 Million Export Top
Prize 12/29/2006 Designated as an INNO-BIZ
Company 07/23/2007 Changed company name to the
present name 07/23/2007 Increased the authorized shares
to 10,000,000 shares from 180,000 shares 08/29/2007 Split off the par value to 500
KRW from 10,000 KRW 11/2008 Awarded US$ 30 Million Export Top
Prize 07/09/2009 Designated as a Venture Business
again 08/13/2010 Increased capital to 2,400,000,000 KRW from 2,000,000,000
KRW 03/20/2012
Increased the authorized shares to 20,000,000 shares from 10,000,000 shares |
|||||||||||||||||||||
|
|
|
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
President
& CEO |
Mr. |
Park
Dong-Ha |
Male |
Korean |
07/23/2007 |
|
Director |
Mr. |
Sung Baik-Yong |
Male |
Korean |
02/18/2005 |
|
Director |
Mr. |
Choi Ho-Man |
Male |
Korean |
12/10/2007 |
|
Director |
Mr. |
Song Ha-Young |
Male |
Korean |
02/18/2008 |
|
Auditor |
Mr. |
Kim Chung-Geon |
Male |
Korean |
03/20/2012 |
|
Year / Unit
: KRW |
Sales |
Assets |
Net Income |
|
94,391,554,512 |
45,986,434,794 |
423,209,329 |
|
|
(*)2011 |
100,658,036,752 |
44,405,194,936 |
6,091,567,448 |
|
(*)2010 |
83,947,192,072 |
38,098,774,227 |
1,755,384,251 |
|
2009 |
66,557,537,160 |
24,329,153,721 |
-6,325,388,166 |
|
2008 |
55,629,386,604 |
26,905,822,430 |
649,556,435 |
(*)Figures are
based on the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
10,000,000,000 |
|
Paid-Up Capital(KRW) |
2,400,000,000 |
|
Total Issued Shares |
4,800,000(Common
: 4,072,727 / Preferable : 727,273) |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of
12/31/2012 |
As of
12/31/2011 |
As of
12/31/2010 |
|
Total
Assets |
45,986,434,794 |
44,405,194,936 |
38,098,774,227 |
|
Current Assets |
32,825,800,547 |
31,713,034,278 |
24,079,260,437 |
|
Cash
& Cash Equivalents |
2,301,837,740 |
561,455,951 |
822,963,106 |
|
Current
Financial Instruments |
- |
- |
170,000,000 |
|
Trade
Receivables |
19,768,743,429 |
22,478,910,736 |
14,870,641,138 |
|
Other
Receivables |
5,390,000 |
1,261,250 |
11,676,458 |
|
Inventories |
9,709,720,934 |
7,906,531,979 |
6,875,927,626 |
|
Other
Current Assets |
1,040,108,444 |
764,874,362 |
1,328,052,109 |
|
Non-Current Assets |
13,160,634,247 |
12,692,160,658 |
14,019,513,790 |
|
Non-Current
Financial Instruments |
200,000,000 |
75,000,000 |
5,000,000 |
|
Other
Receivables |
239,586,600 |
228,976,600 |
209,711,939 |
|
Tangibles |
11,209,825,053 |
11,360,622,060 |
11,436,768,543 |
|
Intangibles |
315,981,669 |
196,940,000 |
71,700,000 |
|
Deferred
Income Tax Assets |
1,195,240,925 |
830,621,998 |
2,296,333,308 |
|
Total Liabilities |
33,407,023,586 |
33,382,055,009 |
32,994,831,599 |
|
Current Liabilities |
23,170,721,386 |
30,650,933,131 |
25,738,723,819 |
|
Trade Payables |
5,698,902,100 |
4,415,805,536 |
6,803,374,916 |
|
Other Payables |
1,346,525,399 |
1,885,305,536 |
1,632,344,344 |
|
Short-Term
Borrowings |
16,074,221,957 |
24,310,993,979 |
17,108,438,474 |
|
Other
Current Liabilities |
51,071,930 |
38,828,080 |
194,566,085 |
|
Non-Current Liabilities |
10,236,302,200 |
2,731,121,878 |
7,256,107,780 |
|
Other Payables |
71,671,469 |
73,397,557 |
- |
|
Long-Term
Borrowings |
8,375,000,000 |
1,375,000,000 |
6,441,180,000 |
|
Provision
for Severance & Retirement |
1,789,630,731 |
1,282,724,321 |
814,927,780 |
|
Capital Stock |
2,207,613,500 |
2,036,363,500 |
2,036,363,500 |
|
Capital
Surplus |
6,560,994,292 |
5,729,240,000 |
5,729,240,000 |
|
Profit
Surplus |
4,200,385,860 |
3,993,899,927 |
-1,925,297,372 |
|
Others |
-389,582,444 |
-736,363,500 |
-736,363,500 |
|
Total
Equity |
12,579,411,208 |
11,023,139,927 |
5,103,942,628 |
|
Liab.
& Shareholder’s Equity |
45,986,434,794 |
44,405,194,936 |
38,098,774,227 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of
12/31/2012 |
As of
12/31/2011 |
As of
12/31/2010 |
|
Sales |
94,391,554,512 |
100,658,036,752 |
83,947,192,072 |
|
Cost
of Sold Goods |
79,276,973,346 |
83,888,251,109 |
72,664,581,143 |
|
Gross
Profit |
15,114,581,166 |
16,769,785,643 |
11,282,610,929 |
|
Selling
& Admin. Expenses |
12,615,907,832 |
7,635,632,516 |
8,030,156,417 |
|
Operating
Income |
2,498,673,334 |
9,134,153,127 |
2,999,412,598 |
|
Other
Income |
1,689,400,084 |
1,545,000,014 |
1,065,548,948 |
|
Other
Expenses |
2,483,325,766 |
1,350,337,067 |
1,318,590,862 |
|
Finance
Income |
12,447,137 |
3,509,364 |
533,204,758 |
|
Finance
Expenses |
1,597,477,275 |
1,633,324,384 |
1,156,240,753 |
|
Equirt Method Losses |
- |
93,105,075 |
- |
|
Income
Before Taxes |
119,717,514 |
7,605,895,979 |
2,376,376,603 |
|
Income
Taxes Expenses |
-303,491,815 |
1,514,328,531 |
620,992,352 |
|
Net
Income |
423,209,329 |
6,091,567,448 |
1,755,384,251 |
Cash
Flows
|
|||
|
Unit : Korean Won |
As of
12/31/2012 |
As of
12/31/2011 |
As of
12/31/2010 |
|
Operating Activities Cash Flows |
2,655,226,942 |
-1,366,331,516 |
-10,404,096,784 |
|
Cash
Flows from Operating |
4,083,955,054 |
25,111,269 |
-9,805,027,673 |
|
Interests
Received |
8,318,387 |
13,924,572 |
21,009,897 |
|
Interests
Paid |
-1,438,038,089 |
-1,406,328,230 |
-1,003,643,708 |
|
Income
Taxes |
991,590 |
960,873 |
383,564,700 |
|
Cash Flows from Investing |
-1,124,292,587 |
-644,523,058 |
-42,698,433 |
|
Cash
Inflow from Investing |
175,454,263 |
421,172,930 |
529,972,577 |
|
Cash
Outflows for Investing |
-1,299,746,850 |
-1,065,695,988 |
-572,671,010 |
|
Cash Flows from Financing |
219,031,523 |
1,749,622,119 |
10,855,954,544 |
|
Cash
Inflows from Financing |
43,854,177,705 |
60,571,447,721 |
47,859,919,668 |
|
Cash
Outflows from Financing |
-43,635,146,182 |
-58,821,825,602 |
-37,003,965,124 |
|
Increase/Decrease in Cash |
1,749,965,878 |
-261,232,455 |
409,159,327 |
|
Cash at the Beginning of Year |
561,455,951 |
822,963,106 |
417,727,320 |
|
Cash at the End of Year |
2,301,837,740 |
561,455,951 |
822,963,106 |
|
Operating Activities Cash Flows |
2,655,226,942 |
-1,366,331,516 |
-10,404,096,784 |
|
Main Products & Services |
Rubber
Compound, Semiconductor Compound, HFFR |
|
Customers |
DYM
INTERNATIONAL PLASTIC TRADING LLC(UAE) |
|
Competitors |
JUNGWOO TRADING CO., LTD. 869-11, EOGOK-DONG, YANGSAN-SI,
GYEONGSANGNAM-DO, KOREA TEL:+82-55-386-5003 FAX:+82-55-364-1778 HUMADE CORPORATION RM. 2310, MASTERS TOWER BLDG., 553, DOHWA 1-DONG,
MAPO-GU, SEOUL, KOREA TEL:+82-2-3275-5155~8 FAX:+82-2-3275-5157 |
(Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
DYM INTERNATIONAL PLASTIC TRADING LLC(UAE) (40.0%
held by the subject company) |
|
Cooperative Enterprise |
-Insured Company DONGBU INSURANCE CO., LTD.(110111-0095285) MERITZ
FIRE & MARINE INSURANCE CO., LTD.(110111-0013328) |
(Activity & Markets)
The Subject deals
with the companies in Japan, Asia, Middle East (UAE), Europe and South America.
No.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.16 |
|
UK Pound |
1 |
Rs.97.77 |
|
Euro |
1 |
Rs.82.78 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.