|
Report Date : |
18.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
M. DOHMEN KOREA
LTD. |
|
|
|
|
Registered Office : |
923-5, Mok 1-dong, Yangcheon-gu,
Seoul, Korea, 9th Fl., Korean Broadcasting Institute, 158-715 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
10.03.2001 |
|
|
|
|
Com. Reg. No.: |
211-86-72321 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Manufacture of Synthetic Colouring Matter,
Tanning Materials and Other Coloring Agents |
|
|
|
|
No. of Employees |
71 |
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 : |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 and 2013 the
economy experienced sluggish growth because of market slowdowns in the United
States, China, and the Eurozone. The administration
in 2014 is likely to face the challenge 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 about half of GDP
|
Source
: CIA |
|
Company
Name |
M. DOHMEN KOREA
LTD. (Korean Company
Name : “엠도흐멘코리아(주)”) |
|
Registered Address |
923-5, Mok
1-dong, Yangcheon-gu, Seoul, Korea |
|
Building |
9th Fl., Korean Broadcasting Institute |
|
Zip Code |
158-715 |
|
Tel |
+82-2-3219-4900 |
|
Fax |
+82-2-3219-4908~9 |
|
E-mail |
hscho@mdohmenkorea.com |
|
Website |
www.mdohmen.com |
|
Trading Address |
9th Fl., Korean Broadcasting Institute,
233, Mokdongdong-ro, Yangcheon-gu,
Seoul, Korea (Old Address System : 9th Fl., Korean
Broadcasting Institute, 923-5, Mok 1-dong, Yangcheon-gu, Seoul, Korea) |
|
Tel |
+82-2-3219-4900 |
|
Fax |
+82-2-3219-4908~9 |
|
Other Address-Onsan Factory |
580, Hwasan-ri, Onsan-eup, Ulju-gun, Ulsan, Korea |
|
Tel |
+82-52-231-5302 |
|
Fax |
+82-52-231-5039 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Synthetic Colouring Matter,
Tanning Materials and Other Coloring Agents |
|
Main Business |
Dyes, Chemical |
|
Established (mm/dd/yyyy) |
03/10/2001 |
The Subject Company
occupies the premises of registered HQ address by leasing base.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Dyes(12171500) |
|
Sell |
Pigments(12171600) |
CEO’s
|
Name |
Juergen Etz |
|
Address |
Kampshaide 2, D-41063, Munchen Klatbah,
Germany |
|
Date of Birth |
09/15/1952 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
18,828,000,000 |
|||||||||
|
Employees |
71 |
|||||||||
|
Formation |
Co., Ltd by shares Foreign Direct Investment Corporation |
|||||||||
|
Bank Details |
Korea Exchange Bank |
|||||||||
|
Corporate Registered No. |
110111-2189953 |
|||||||||
|
Business Registered No. |
211-86-72321 |
|||||||||
|
Permit & Licenses |
Int’l Trade No.: 11941521 |
|||||||||
|
Shareholder Position |
|
|||||||||
|
Company History |
03/10/2001 Incorporated as the present name 03/15/2001 Registered as a Foreign Direct
Investment Corporation 08/2001 Acquired Paint Business from LG CHEM LTD(110111-2207995) 08/21/2001 Increased the authorized shares to 20,000 shares from 200
shares 08/30/2001 Increased capital to 14,009,000,000 KRW from 50,000,000 KRW 08/16/2005 Moved to the present HQ address from 923-12, Mok 1-dong, Yangcheon-gu,
Seoul, Korea 10/05/2006 Increased capital to 18,828,000,000 KRW from 14,009,000,000
KRW |
|||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Juergen Etz |
Male |
German |
08/12/2008 |
|
Director |
Mr. |
Ditrich Pitzolt |
Male |
German |
03/31/2004 |
|
Director |
Mr. |
Cho Han-Sung |
Male |
Korean |
08/18/2010 |
|
Director |
Mr. |
Yoon Yang-Soo |
Male |
Korean |
08/18/2010 |
|
Director |
Mr. |
Mark Dohmen |
Male |
German |
09/11/2001 |
|
Auditor |
Mr. |
Nadin Dohmen Letig |
Male |
German |
03/14/2013 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
28,606,553,794 |
20,175,770,428 |
-31,464,729 |
|
|
2012 |
30,281,697,863 |
21,946,064,713 |
-711,027,601 |
|
2011 |
26,728,977,463 |
20,454,330,954 |
1,891,412,329 |
|
2010 |
29,868,369,903 |
19,777,863,468 |
327,557,467 |
|
2009 |
20,914,904,110 |
22,741,426,946 |
-879,213,411 |
|
2008 |
31,078,828,149 |
26,299,610,465 |
10,172,249,305 |
|
2007 |
29,642,949,213 |
25,704,385,355 |
-2,671,362,391 |
|
2006 |
28,245,645,647 |
24,899,562,943 |
-4,206,309,483 |
|
2005 |
27,869,570,321 |
28,827,882,449 |
-1,703,101,527 |
|
2004 |
34,097,105,235 |
36,963,265,297 |
205,682,577 |
Financial
Description
|
Authorized Capital(KRW) |
20,000,000,000 |
|
Paid-Up Capital(KRW) |
18,828,000,000 |
|
Total Issued Shares |
18,828 |
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Total Assets |
20,175,770,428 |
21,946,064,713 |
20,454,330,954 |
|
Current Assets |
19,410,820,691 |
21,074,631,490 |
19,412,045,174 |
|
-Quick Assets |
14,307,000,456 |
15,480,388,301 |
12,967,678,270 |
|
-Inventories |
5,103,820,235 |
5,594,243,189 |
6,444,366,904 |
|
Fixed Assets |
764,949,737 |
871,433,223 |
1,042,285,780 |
|
-Investment |
15,800,000 |
15,800,000 |
78,101,620 |
|
-Tangibles |
488,342,687 |
570,633,193 |
731,315,399 |
|
-Intangibles |
2,559,951 |
4,263,951 |
4,670,366 |
|
-Others |
258,247,099 |
280,736,079 |
228,198,395 |
|
Total Liabilities |
8,032,008,836 |
9,770,838,392 |
7,383,725,002 |
|
Current Liabilities |
7,858,701,222 |
9,688,007,290 |
7,383,725,002 |
|
Fixed Liabilities |
173,307,614 |
82,831,102 |
- |
|
Capital Stock |
18,828,000,000 |
18,828,000,000 |
18,828,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
-6,421,673,448 |
-6,390,208,719 |
-5,494,829,088 |
|
Capital Adjustment |
-262,564,960 |
-262,564,960 |
-262,564,960 |
|
Total Equity |
12,143,761,592 |
12,175,226,321 |
13,070,605,952 |
|
Liab. & Shareholder’s Equity |
20,175,770,428 |
21,946,064,713 |
20,454,330,954 |
|
Current
Liabilities |
7,858,701,222 |
9,688,007,290 |
7,383,725,002 |
|
Trade Payables |
3,918,258,390 |
5,520,054,664 |
3,964,047,346 |
|
Short-Term Borrowings |
1,853,873,488 |
1,850,979,084 |
1,911,615,388 |
|
Account Payables |
1,758,402,395 |
2,014,850,116 |
1,107,014,416 |
|
Advance Receipts |
1,916,132 |
2,026,132 |
9,550,552 |
|
Unearned
Income |
86,988,255 |
- |
|
|
Withholdings |
184,188,022 |
281,204,435 |
371,201,069 |
|
Accrued Expenses |
55,074,540 |
18,892,859 |
20,296,231 |
|
Fixed
Liabilities |
173,307,614 |
82,831,102 |
- |
|
Provision for Severance & Retirement |
1,447,503,830 |
1,104,301,340 |
783,696,032 |
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Sales |
28,606,553,794 |
30,281,697,863 |
26,728,977,463 |
|
Cost of Sold Goods |
24,405,946,854 |
25,965,549,686 |
23,010,425,655 |
|
Gross Profit |
4,200,606,940 |
4,316,148,177 |
3,718,551,808 |
|
Selling & Admin. Expenses |
4,161,570,526 |
4,237,567,404 |
4,308,040,703 |
|
Operating Income |
39,036,414 |
78,580,773 |
-589,488,895 |
|
Non-Operating Income |
644,808,963 |
863,533,641 |
3,267,069,992 |
|
Non-Operating Expenses |
715,310,106 |
1,653,142,015 |
786,168,768 |
|
Income Before Taxes |
-31,464,729 |
-711,027,601 |
1,891,412,329 |
|
Income Taxes Expenses |
- |
- |
- |
|
Net Income |
-31,464,729 |
-711,027,601 |
1,891,412,329 |
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Cash Flows from Operating |
-96,734,113 |
-632,520,951 |
-40,398,770 |
|
-Net Income |
-31,464,729 |
-711,027,601 |
1,891,412,329 |
|
-Exp. without Cash Outflow |
761,586,270 |
1,047,194,190 |
1,466,101,673 |
|
-Revenue without Cash Inflows |
-61,156,319 |
-225,878,932 |
-2,867,625,021 |
|
-Changes in Asset/ & Liability |
-765,699,335 |
-742,808,608 |
-530,287,751 |
|
Cash Flows from Investing |
-41,354,293 |
-85,758,501 |
-70,663,746 |
|
-Cash Inflow from Investing |
29,624,980 |
31,433,316 |
2,700,000 |
|
-Cash Outflows for Investing |
-70,979,273 |
-117,191,817 |
-73,363,746 |
|
Cash Flows from Financing |
13,876,307 |
-23,102,269 |
231,424,123 |
|
-Cash Inflows from Financing |
13,876,307 |
- |
231,424,123 |
|
-Cash Outflows from Financing |
- |
-23,102,269 |
- |
|
Increase/Decrease in Cash |
-124,212,099 |
-741,381,721 |
120,361,607 |
|
Cash at the Beginning of Year |
964,826,292 |
1,706,208,013 |
1,585,846,406 |
|
Cash at the End of Year |
840,614,193 |
964,826,292 |
1,706,208,013 |
|
Main Products & Services |
Dyes, Chemical |
|
Suppliers |
LG HAUSYS, LTD.(110111-4071207) |
|
Customers |
M. DOHMEN SA M. DOHMEN GMBH M. DOHMEN USA INC HANG ZHOU M. DOHMEN CHEMICAL LTD |
|
Competitors |
CIBA SPECIALTY CHEMICALS KOREA LTD. 13TH FL., HAESEONG 2 BLDG., 942-10, DAECHI
2-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-3451-7300 FAX:+82-2-553-1928 OH YOUNG INDUSTRIAL CO., LTD. 1RA-402, SIHWA INDUSTRIAL COMPLEX, 1250-1,
JEONGWANG 3-DONG, SIHEUNG-SI, GYEONGGI-DO, KOREA TEL:+82-31-499-2781 FAX:+82-31-499-2785 SAMBO FINE CHEMICALS MFG. CO., LTD. 628-2, HAKJANG-DONG, SASANG-GU, BUSAN, KOREA TEL:+82-51-311-3001 FAX:+82-51-323-1742 |
|
Affiliates |
M. DOHMEN SA M. DOHMEN GMBH M. DOHMEN USA INC HANG ZHOU M. DOHMEN CHEMICAL LTD |
|
Corporate Ownership |
ATUL LTD. COLOR DIVISION M. DOHMEN SA(SWISS) |
|
Major Shareholders |
|
|
Cooperative Enterprise |
-Insured Company LIG INSURANCE CO., LTD.(110111-0017859) -Production Assisting Services Agreement with LG HAUSYS, LTD.(110111-4071207) |
The Subject deals
with the companies in USA and Europe.
No.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.38 |
|
|
1 |
Rs.101.63 |
|
Euro |
1 |
Rs.83.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
PDT |
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.