|
Report Date : |
17.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
DANA KOREA CO., LTD. |
|
|
|
|
Registered Office : |
353-1, Seogyo-dong, Mapo-gu, Seoul, Korea |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
22.10.2002 |
|
|
|
|
Com. Reg. No.: |
105-86-45757 |
|
|
|
|
Legal Form : |
Co., Ltd by
shares |
|
|
|
|
Line of Business : |
Wholesale of Basic Metals. |
|
|
|
|
No. of Employees : |
08 |
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
|
Company Name |
DANA KOREA CO., LTD. (Korean Company Name : “다나코레아(주)”) |
|
Registered
Address |
353-1, Seogyo-dong, Mapo-gu, Seoul, Korea |
|
Building |
Rm. 1703, Seogyo Tower Officetel |
|
Zip Code |
121-760 |
|
Tel |
+82-2-3143-4070 |
|
Fax |
+82-2-3143-4233 |
|
E-mail |
sales@danakorea.com;katawata2000@yahoo.co.kr |
|
Website |
www.danakorea.com |
|
Trading Address |
Rm. 1703, Seogyo Tower Officetel, 353-1, Seogyo-dong, Mapo-gu, Seoul, Korea |
|
Tel |
+82-2-3143-4070 |
|
Fax |
+82-2-3143-4233 |
|
Type |
Export/Import |
|
Industry |
Wholesale of Basic Metals |
|
Main Business |
PVC Film Laminated Metal Sheet, Pre-painted Metal Sheet,
Filter, Electronic Component Parts, Plastic Resin |
|
Sub Business |
Wholesale of Synthetic Rubber and Plastics Materials |
|
Established
(mm/dd/yyyy) |
10/22/2002 |
Mr. Kim
Yong-Chan, president & CEO, owns
the premises of registered HQ address.
Detailed Products
|
Activity |
Detailed
Products (UNSPSC) |
|
Sell |
Filters(40161500) |
|
Sell |
Electronic Components and Supplies(32000000) |
|
Sell |
Plate(30102200) |
|
Sell |
Iron plate(30102203) |
CEO’s
|
Name |
Kim Yong-Chan |
|
Address |
Suite 110-406,
38, Mokdongseo-ro, Yangcheon-gu, Seoul, Korea |
|
Date of Birth |
07/16/1962 |
|
Title |
President
& CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
1,200,000,000 |
|
Employees |
8 |
|
Formation |
Co., Ltd by
shares |
|
Bank Details |
Korea Exchange
Bank-Yeonnam Dong Branch |
|
Corporate
Registered No. |
110111-2635831 |
|
Business
Registered No. |
105-86-45757 |
|
Permit &
Licenses |
Int’l Trade
No.: 45054266 |
|
Shareholder
Position |
N/A |
|
Company
History |
04/01/2000
Established as SUNSHINE TRADING CO.(Sole Proprietorship) 10/22/2002
Incorporated as the present name 01/02/2008
Increased the authorized shares to 500,000 shares from 40,000 shares 01/03/2008
Increased capital to 300,000,000 KRW from 50,000,000 KRW 12/29/2010
Increased capital to 400,000,000 KRW from 300,000,000 KRW 11/19/2011
Increased the authorized shares to 5,000,000 shares from 500,000 shares 01/02/2012
Split off the par value to 500 KRW from 5,000 KRW 04/14/2012 Increased capital to 1,200,000,000 KRW from 400,000,000 KRW |
|
|
|
Management
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
President
& CEO |
Mr. |
Kim Yong-Chan |
Male |
Korean |
10/22/2002 |
|
Director |
Mr. |
Park Jong-Cheon |
Male |
Korean |
10/22/2002 |
|
Director |
Mr. |
Kim Young-Tak |
Male |
Korean |
04/12/2012 |
|
Director |
Mr. |
Hong Ki-Bong |
Male |
Korean |
04/12/2012 |
|
Auditor |
M/S. |
Yang Jung-Ah |
Female |
Korean |
03/14/2005 |
Financials
|
Year / Unit :
KRW |
Sales |
Assets |
Net Income |
|
|
|
|
|
|
2011 |
|
|
|
|
2010 |
32,600,000,000 |
6,425,000,000 |
958,000,000 |
|
2009 |
23,366,000,000 |
4,537,000,000 |
487,000,000 |
|
2008 |
16,319,320,000 |
1,625,000,000 |
339,230,000 |
|
2007 |
7,231,400,000 |
|
71,010,000 |
|
2006 |
6,078,180,000 |
681,000,000 |
71,740,000 |
|
2005 |
4,322,000,000 |
582,000,000 |
21,450,000 |
|
2004 |
2,491,000,000 |
|
11,100,000 |
The full & 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) |
2,500,000,000 |
|
Paid-Up
Capital(KRW) |
1,200,000,000 |
|
Total Issues Shares |
2,400,000 |
|
Unit : Million
Korean Won |
As of
12/31/2012 |
As of
12/31/2011 |
As of
12/31/2010 |
|
Total Assets |
|
|
|
|
Current Assets |
|
|
|
|
-Quick Assets |
|
|
|
|
-Inventories |
|
|
|
|
Fixed Assets |
|
|
|
|
-Investment |
|
|
|
|
-Tangibles |
|
|
|
|
-Intangibles |
|
|
|
|
Total
Liabilities |
|
|
|
|
Current
Liabilities |
|
|
|
|
Fixed
Liabilities |
|
|
|
|
Capital Stock |
|
|
|
|
Capital
Surplus |
|
|
|
|
Profit Surplus |
|
|
|
|
Capital Adjustment |
|
|
|
|
Total Equity |
|
|
|
|
Liab. &
Shareholder’s Equity |
|
|
|
|
Unit : Million
Korean Won |
As of
12/31/2012 |
As of
12/31/2011 |
As of
12/31/2010 |
|
Sales |
|
|
|
|
Cost of Sold
Goods |
|
|
|
|
Gross Profit |
|
|
|
|
Selling &
Admin. Expenses |
|
|
|
|
Operating
Income |
|
|
|
|
Non-Operating
Income |
|
|
|
|
Non-Operating
Expenses |
|
|
|
|
Income Before
Taxes |
|
|
|
|
Income Taxes
Expenses |
|
|
|
|
Net Income |
|
|
|
|
Unit : Million
Korean Won |
As of
12/31/2012 |
As of
12/31/2011 |
As of
12/31/2010 |
|
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 |
|
|
|
|
Cash at the
Beginning of Year |
|
|
|
|
Cash at the
End of Year |
|
|
|
Products,
Technologies, Services Description
|
Main Products
& Services |
PVC Film Laminated Metal Sheet Pre-painted Metal Sheet Electronic Component Parts Plastic Resin Filter |
|
Detailed
Products Spec. |
|
|
Technologies
Acquired |
|
Trade Partners &
Competitors
|
Suppliers |
|
|
Customers |
|
|
Competitors |
TAE WOONG CO.,
LTD. 1462-1,
SONGJEONG-DONG, GANGSEO-GU, BUSAN, KOREA TEL:+82-51-329-5000 FAX:+82-51-329-5001 ROAD
INTERNATIONAL CO., LTD. RM. 823, SUSEO
HYUNDAI VENTURE VILLE, 713, SUSEO-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-563-6161 FAX :+82-2-563-6162 GUM SUNG
INDUSTRIAL CO., LTD. 649-1,
NAKSAN-RI, WAEGWAN-EUP, CHILGOK-GUN, GYEONGSANGBUK-DO, KOREA TEL:+82-53-592-4040 FAX:+82-53-592-2332 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
|
|
Overseas
Office |
|
|
Liaison Office |
|
|
Overseas
Branch |
|
|
Joint Venture |
|
|
Subsidiary |
|
|
Corporate
Ownership |
|
|
Major
Shareholders |
|
|
Cooperative
Enterprise |
|
Sales by Region
(Activity & Markets)
|
Sales/ Unit
:Mil KRW |
2012 |
2011 |
2010 |
|
Export |
|
|
|
|
Domestic |
|
|
|
|
Total |
|
|
|
The Subject exports to Middle East, Pakistan, Hong Kong,
Indonesia, Singapore, Vietnam, India and China.
Court Action
|
Case No. |
Court |
Plaintiff(s)/ Creditor(s)/ Applicant(s) |
Defendant(s)/ Debtor(s)/ Respondent(s) |
Cause |
Amount
(Million KRW) |
Status |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Not Available.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.48 |
|
|
1 |
Rs.99.66 |
|
Euro |
1 |
Rs.83.50 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.