|
Report Date : |
30.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
DONGSUH COMPANIES INC. |
|
|
|
|
Registered Office : |
10th Fl., Dongsuh Bldg., 564, Dohwa-dong, Mapo-gu, Seoul 121-730 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
16.05.1975 |
|
|
|
|
Com. Reg. No.: |
105-81-38440 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Wholesaler of Other Prepared Food like Tea, Coffee, Sauce |
|
|
|
|
No of Employees : |
251 |
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 : |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate 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 |
DONGSUH
COMPANIES INC. (Korean Company Name : “(주)동서”) |
|
Registered Address |
564, Dohwa-dong, Mapo-gu, Seoul, Korea |
|
Building |
10th
Fl., Dongsuh Bldg. |
|
Zip Code |
121-730 |
|
Tel |
+82-2-701-5050 |
|
Fax |
+82-2-716-7730 |
|
E-mail |
|
|
Website |
|
|
Trading
Address |
10th Fl., Dongsuh Bldg., 564, Dohwa-dong, Mapo-gu, Seoul, Korea |
|
Tel |
+82-2-701-5050 |
|
Fax |
+82-2-716-7730 |
|
Other
Address- Ansan Factory |
24B, Banwol Industrial Complex, 1114, Singil-dong, Danwon-gu,
Ansan-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-491-3471~3 |
|
Fax |
+82-31-492-2037 |
|
Other
Address-Sihwa Factory |
2Da-301, Sihwa Industrial Complex, 1263, Jeongwang 2-dong, Siheung-si,
Gyeonggi-do, Korea |
|
Tel |
+82-31-431-4240 |
|
Fax |
+82-31-432-4620 |
|
Other
Address-Warehouse |
34-4, Gupyeong-dong, Saha-gu, Busan, Korea |
|
Type |
Export/Import |
|
Industry |
Wholesale
of Other Prepared Food |
|
Main Business |
Tea,
Coffee, Sauce |
|
Sub
Business |
Manufacture
of Plastic Films, Sheets and Plates |
|
Established (mm/dd/yyyy) |
05/16/1975 |
The Subject owns
the premises of registered HQ address, Ansan Factory, Sihwa Factory and
warehouse.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Packaging films(24141514) |
|
Sell |
Hardware and fittings(40141700) |
|
Sell |
Shelf stable fruit(50101636) |
|
Sell |
Soft drinks(50202306) |
|
Sell |
Temperature and heat measuring
instruments(41112200) |
|
Sell |
Coextruded films(13111205) |
|
Buy |
Packaging boxes(24121503) |
|
Buy |
Resins(13111000) |
|
Buy |
Polyethylene(13111016) |
|
Buy |
Films(13111200) |
|
Buy |
Base Metals(11101700) |
|
Name |
Kim
Jong-Won |
|
Date of Birth |
11/08/1956 |
|
Title |
President
& CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
49,850,000,000 |
||||||||||||||||||||||||||||||
|
Employees |
251 |
||||||||||||||||||||||||||||||
|
Formation |
Listed
Company (KOSDAQ : 026960) as of 12/27/1995 |
||||||||||||||||||||||||||||||
|
Bank Details |
Kookmin Bank Citibank, Korea Korea Exchange Bank Woori Bank Hana Bank |
||||||||||||||||||||||||||||||
|
Corporate Registered No. |
110111-0180888 |
||||||||||||||||||||||||||||||
|
Business Registered No. |
105-81-38440 |
||||||||||||||||||||||||||||||
|
Permit & Licenses |
Int’l
Trade No.: 831121 |
||||||||||||||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||||||||||||||
|
Company History |
05/16/1975 Incorporated as Apollo Heat
Bottle Co., Ltd. 11/14/1978 Changed company name to Apollo
Co., Ltd. 03/31/1981 Changed company name to Yudong
Corporation 02/12/1989 Moved to the present HQ address 05/16/1996 Changed company name to the
present name 08/01/1996 Acquired Saehan Yutong Co., Ltd. |
||||||||||||||||||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Date of Birth |
Education |
|
Chairman
& CEO |
Mr. |
Kim
Sang-Hun |
Korean |
1949.11.29 |
Korea
University, Korea |
|
President
& CEO |
Mr. |
Kim
Jong-Won |
Korean |
1956.11.08 |
Seogang
University, Korea |
|
Outside Director |
Mr. |
Yoon Se-Cheol |
Korean |
1957.04.16 |
University of Helsinki, Finland |
|
Outside Director |
Mr. |
Choi In-Ho |
Korean |
1934.03.08 |
Busan University, Korea |
|
Outside Director |
Mr. |
Kim Yong-Eon |
Korean |
- |
Seoul National University, Korea |
|
Auditor |
Mr. |
Lee
Hong-Jae |
Korean |
1937.04.03 |
Dongah
University, Korea |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
(*)2013 |
425,764,542,987 |
959,158,837,049 |
95,998,376,894 |
|
(*)2012 |
421,460,963,141 |
908,601,014,647 |
97,380,098,634 |
|
(*)2011 |
407,145,531,095 |
861,895,480,653 |
90,706,392,992 |
|
(*)2010 |
349,442,663,606 |
786,983,903,134 |
84,576,609,313 |
|
2009 |
308,838,422,000 |
722,684,057,000 |
107,817,530,000 |
|
2008 |
282,336,739,000 |
643,559,001,000 |
90,119,507,000 |
|
2007 |
235,209,649,805 |
572,631,736,324 |
76,472,756,615 |
|
2006 |
222,018,926,711 |
494,564,280,111 |
63,891,382,729 |
|
2005 |
220,231,122,197 |
464,927,870,872 |
66,858,126,777 |
|
2004 |
218,729,069,751 |
418,257,440,214 |
53,452,287,691 |
(*)Figures are based on the K-IFRS
Accounting System.
|
Authorized Capital(KRW) |
50,000,000,000 |
|
Paid-Up Capital(KRW) |
49,850,000,000 |
|
Total Issued Shares |
99,700,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Total Assets |
959,158,837,049 |
908,601,014,647 |
861,895,480,653 |
|
Current
Assets |
518,921,958,683 |
467,649,056,420 |
309,647,203,416 |
|
Cash & Cash Equivalents |
95,947,684,007 |
116,058,160,635 |
54,710,590,252 |
|
Current Financial Instruments |
278,000,000,000 |
135,000,000,000 |
170,000,000,000 |
|
Other Current Financial Instruments |
68,000,210,000 |
140,076,127,145 |
450,000 |
|
Trade Receivables & Other
Receivables |
51,168,449,136 |
49,874,390,747 |
52,373,708,052 |
|
Other Current Assets |
137,159,818 |
688,995,229 |
247,803,263 |
|
Derivatives |
0 |
14,975,000 |
3,181,496 |
|
Inventories |
25,668,455,722 |
25,936,407,664 |
32,311,470,353 |
|
Non-Current
Assets |
440,236,878,366 |
440,951,958,227 |
552,248,277,237 |
|
Other Financial Assets |
12,500,000 |
12,500,000 |
12,500,000 |
|
Marketable Financial Instruments |
473,640,000 |
473,640,000 |
473,640,000 |
|
Other Financial Instruments |
113,340,000 |
69,005,000 |
140,227,274,137 |
|
Investment_Subsidiaries |
16,230,137,671 |
16,230,137,671 |
16,230,137,671 |
|
Investment_Related Companies |
346,527,720,084 |
346,527,720,084 |
325,556,980,084 |
|
Long-Term Trade Receivables &
Other Receivables |
109,055,000 |
109,465,000 |
563,745,563 |
|
Tangibles |
53,960,524,925 |
55,550,340,000 |
56,709,183,702 |
|
Intangibles |
2,024,644,668 |
2,266,689,413 |
1,047,897,752 |
|
Investment_Real Estates |
20,785,316,018 |
19,712,461,059 |
11,426,918,328 |
|
Total
Liabilities |
83,097,053,724 |
82,991,340,217 |
94,121,112,114 |
|
Current
Liabilities |
51,027,876,519 |
50,223,396,168 |
61,134,787,866 |
|
Trade Payables & Other Payables |
36,561,158,222 |
34,541,038,145 |
45,690,617,036 |
|
Other Current Liabilities |
2,390,085,375 |
2,354,827,819 |
1,784,023,211 |
|
Accrued Income Tax |
12,075,632,922 |
13,327,530,204 |
13,646,301,202 |
|
Derivatives |
1,000,000 |
0 |
13,846,417 |
|
Non-Current
Liabilities |
32,069,177,205 |
32,767,944,049 |
32,986,324,248 |
|
Long-Term Trade Payables &
Other Payables |
4,075,574,711 |
4,235,185,462 |
3,802,010,969 |
|
Provision for Severance &
Retirement |
1,009,885,695 |
1,960,962,610 |
1,491,322,005 |
|
Deferred Income Tax Credit |
26,983,716,799 |
26,571,795,977 |
27,692,991,274 |
|
Capital
Stock |
49,850,000,000 |
29,587,960,000 |
14,900,000,000 |
|
Others |
4,324,292,510 |
2,976,400,803 |
2,141,798,173 |
|
Profit Surplus |
821,887,490,815 |
793,045,313,627 |
750,732,570,366 |
|
Total Equity |
876,061,783,325 |
825,609,674,430 |
767,774,368,539 |
|
Liab. & Shareholder’s Equity |
959,158,837,049 |
908,601,014,647 |
861,895,480,653 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Sales |
425,764,542,987 |
421,460,963,141 |
407,145,531,095 |
|
Cost of Sold Goods |
351,924,593,237 |
350,995,050,820 |
340,440,962,554 |
|
Gross Profit |
73,839,949,750 |
70,465,912,321 |
66,704,568,541 |
|
Selling Expenses |
10,783,428,807 |
8,558,008,320 |
7,374,423,779 |
|
Admin. Expenses |
23,514,310,820 |
22,159,355,827 |
20,155,841,221 |
|
Operating Income |
39,542,210,123 |
39,748,548,174 |
39,174,303,541 |
|
Finance Income |
77,587,668,626 |
77,782,026,944 |
73,283,692,606 |
|
Finance Expenses |
31,919,306 |
1,466,802 |
1,863,957 |
|
Other Non-Operating Income |
7,149,310,944 |
6,162,591,428 |
6,826,011,652 |
|
Other Non-Operating Expenses |
2,341,251,435 |
1,518,339,395 |
1,905,311,126 |
|
Income Before Taxes |
121,906,018,952 |
122,173,360,349 |
117,376,832,716 |
|
Income Taxes Expenses |
25,907,642,058 |
24,793,261,715 |
26,670,439,724 |
|
Net Income |
95,998,376,894 |
97,380,098,634 |
90,706,392,992 |
Cash Flows
|
|||
|
Unit : Korean Won |
As of
12/31/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Operating
Activities Cash Flows |
100,938,862,933 |
99,652,507,153 |
94,756,945,769 |
|
Cash Flows from Operating |
51,550,836,765 |
44,928,261,074 |
43,990,677,126 |
|
Net Income |
95,998,376,894 |
97,380,098,634 |
90,706,392,992 |
|
Adjustment |
-44,447,540,129 |
-52,451,837,560 |
-46,715,715,866 |
|
Interests Received |
11,492,966,389 |
17,274,787,578 |
11,785,957,438 |
|
Interests Paid |
0 |
-809,236 |
0 |
|
Dividends Received |
64,685,349,000 |
63,453,020,000 |
59,103,085,500 |
|
Income Taxes |
-26,790,289,221 |
-26,002,752,263 |
-20,122,774,295 |
|
Cash Flows from Investing |
-73,949,905,248 |
1,378,897,450 |
-73,963,031,035 |
|
Cash Flows from Financing |
-47,099,434,313 |
-39,683,834,220 |
-35,251,104,000 |
|
Increase/Decrease in Cash |
-20,110,476,628 |
61,347,570,383 |
-14,457,189,266 |
|
Cash at the Beginning of Year |
116,058,160,635 |
54,710,590,252 |
69,167,779,518 |
|
Cash at the End of Year |
95,947,684,007 |
116,058,160,635 |
54,710,590,252 |
|
Main Products & Services |
Tea, Coffee, Sauce Packing Business Division Tea Business Division Wholesales
of Edible Oils and Beverages |
|
Suppliers |
DONGSUH FOOD & TRADING CO.,
LTD.(124311-0011116) DONGSUH FOODS CORPORATION(120111-0000464) DONG SUH OIL & FATS CO.,
LTD.(194211-0002824) |
|
Competitors |
CJ FRESHWAY CORPORATION 156-2 HAKAL-REE GEEHUENG-GU YOUNGIN-SI,
KYEONGGI-DO, 449-910 SOUTH KOREA TEL:+82-2-21496007 FAX:+82-2-21496098 E-NET CORPORATION 2F, SOOAHM BUILDING 66-1 YANGJAE-DONG
SUHCHO-GU SEOUL, 138-240 SOUTH KOREA TEL:+82-2-34983400 FAX:+82-2-5747447 NRD CO., LTD. 344 DAEYA-RI SAMSEONG-MYEON EUMSEON-GUN,
CHOONGCHUNGBOOK-DO, 369-830 SOUTH KOREA TEL:+82-43-8788851 FAX:+82-43-8776818 |
Related
Parties (Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
DONGSUH FOODS CORPORATION(120111-0000464) (50.0% held by the subject company) DONG SUH OIL & FATS CO.,
LTD.(194211-0002824) (19.0% held by the subject company) DONGSUH FOOD & TRADING CO.,
LTD.(124311-0011116) (62.5% held by the subject company) DAESUNG MACHINERY CO., LTD. (48.0% held by the subject company) SUNG JE DEVELOPMENT CO.,
LTD.(110111-0430142) (19.8% held by the subject company) DONGSUH SILUP CO., LTD.(CHINA) (100.0% held by the subject company) DONGSUH BEVERAGE CORPORATION(110111-4537126) (17.00% held by the subject company) MIGABANG CO., LTD.(284714-0000146) |
|
Subsidiary |
DONGSUH FOOD & TRADING CO., LTD.(124311-0011116) (62.5% held by the subject company) |
|
Sales/ Unit :Thousand KRW |
09/2012 |
2011 |
2010 |
|
Export |
50,119,494 |
63,327,982 |
47,481,709 |
|
Domestic |
266,282,862 |
343,817,550 |
301,960,955 |
|
Total |
316,402,356 |
407,145,532 |
349,442,664 |
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 60.52 |
|
|
1 |
Rs. 101.77 |
|
Euro |
1 |
Rs. 83.91 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DPT |
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.