|
Report Date : |
03.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
DPI CO., LTD. |
|
|
|
|
Formerly Known As : |
DONGNAM PRECISION IND. CO., LTD.,) |
|
|
|
|
Registered Office : |
279, Mieumsandan-ro, Gangseo-gu, Busan, Korea |
|
|
|
|
Country : |
Korea (South) |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
22.07.2000 |
|
|
|
|
Com. Reg. No.: |
603-81-42356 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares Venture Business |
|
|
|
|
Line of Business : |
Manufacture of Sections for Ships |
|
|
|
|
No. of Employees : |
117 |
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Korea (South) |
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 |
KOREA (SOUTH) - 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. South 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. South 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-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, dominance of large conglomerates (chaebols), and heavy reliance on exports, which comprise about half of GDP.
|
Source
: CIA |
Basic
|
Company Name |
DPI CO., LTD. (Ex. Company Name : DONGNAM PRECISION IND. CO., LTD.,) |
|
Registered Address |
279, Mieumsandan-ro, Gangseo-gu, Busan, Korea |
|
Zip Code |
618-220 |
|
Tel |
+82-51-831-3500 |
|
Fax |
+82-51-831-2687~8 |
|
E-mail |
dongnam@dongnamco.com |
|
Website |
www.dongnamco.com |
|
Trading Address |
279, Mieumsandan-ro, Gangseo-gu, Busan, Korea (Old Address System : 198-32, Mieum-dong, Gangseo-gu, Busan, Korea) |
|
Tel |
+82-51-831-3500 |
|
Fax |
+82-51-831-2687~8 |
|
Other Address-2nd Factory |
1731-8, Songjeong-dong, Gangseo-gu, Busan, Korea |
|
Other Address-Pangyo Inno Valley Office |
B-903, 621, Sampyeong-dong,
Bundang-gu, Seongnam-si, Gyeonggi-do, Korea |
|
Type |
Export |
|
Industry |
Manufacture of Sections for Ships |
|
Main Business |
Multi Core Tube, Cable Tray, PVC Cover, Cable Hanger, Condense Case,
Hand Rail, LNG Carrier, Cable Binding Tape(Band Hoop & Buckle), LNG
Fittings |
|
Established (mm/dd/yyyy) |
07/22/2000 |
The Subject owns the premises of registered
HQ address.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Prying and bending tools(27112500) |
|
Sell |
Pipe or tube cutters(23171603) |
|
Sell |
Handrails(30191601) |
|
Sell |
Cable trays(39121201) |
|
Sell |
Hose or pipe clamps(31162906) |
|
Sell |
Pipe fittings(40142300) |
|
Sell |
Metal housings or cabinets(31261502) |
|
Sell |
Wire management components and busways(39121200) |
|
Sell |
Shells and casings(31261600) |
|
Sell |
Capacitors(32121500) |
|
Buy |
Aluminum(11101705) |
|
Buy |
Iron(11101713) |
|
Buy |
Steel(11101704) |
CEO’s
|
Name |
Ko Hwa-Ok |
|
Address |
Suite 302-1502, 100, Dadaenakjo 2-gil,
Saha-gu, Busan, Korea |
|
Date of Birth |
05/02/1956 |
|
Title |
President & CEO |
|
Sex |
Female |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
1,760,000,000 |
|||||||||||||||
|
Employees |
117 |
|||||||||||||||
|
Formation |
Co., Ltd by Shares Venture Business |
|||||||||||||||
|
Bank Details |
Industrial Bank of Korea-Noksan Industrial
Complex Branch |
|||||||||||||||
|
Corporate Registered No. |
180111-0331081 |
|||||||||||||||
|
Business Registered No. |
603-81-42356 |
|||||||||||||||
|
Permit & Licenses |
10/1999 ISO 9002 by URS 06/2001 ISO 9002 by DNV 06/2002 ISO 9001 by DNV 03/2004 ISO 9001 08/2004 CSA 2006 ISO 14001 2008 ISO 9001 by DNV 2008 ISO 14001 by DNV Int’l Trade No.: 382405 |
|||||||||||||||
|
Shareholder Position |
|
|||||||||||||||
|
Company History |
06/09/1980 Established as DONG NAM
ENTERPRISE CO.(Sole proprietorship) 05/03/1984 Changed company name to DONG NAM
UIJANG INDUSTRY CO. 07/22/2000 Incorporated as DONGNAM
PRECISION IND. CO., LTD. 10/16/2000 Moved to Noksan National
Industrial Complex, 1593-6, Songjeong-dong, Gangseo-gu, Busan, Korea from 1500-13, Dadae-dong, Saha-gu, Busan, Korea 2005 Designated as an INNO-BIZ Company 2007 Awarded US$ 3 Million Export Top Prize 04/30/2010 Designated as a Venture Business 09/01/2013 Changed company name to the
present name 02/20/2014 Moved to the present HQ address
from Noksan
National Industrial Complex, 1593-6, Songjeong-dong, Gangseo-gu, Busan, Korea |
|||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
M/S. |
Ko Hwa-Ok |
Female |
Korean |
09/01/2013 |
|
Director |
Mr. |
Kim Bong-Joo |
Male |
Korean |
04/30/2012 |
|
Director |
Mr. |
Kim Tae-Kyun |
Male |
Korean |
05/07/2014 |
|
Auditor |
Mr. |
Jang Hyun-Kyu |
Male |
Korean |
09/01/2013 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
35,041,127,653 |
44,227,302,013 |
2,460,087,372 |
|
|
2012 |
41,496,901,283 |
37,803,638,746 |
2,734,191,015 |
|
2011 |
33,275,920,006 |
26,206,637,257 |
2,006,395,843 |
|
2010 |
27,990,877,588 |
19,800,835,148 |
2,796,908,510 |
|
2009 |
32,631,790,865 |
17,890,380,397 |
3,130,337,357 |
|
2008 |
33,937,063,652 |
18,413,539,231 |
2,845,365,384 |
|
2007 |
28,900,171,681 |
16,122,210,528 |
1,960,907,747 |
|
2006 |
22,571,840,347 |
13,095,308,547 |
1,554,466,956 |
|
2005 |
19,932,739,545 |
12,219,993,689 |
1,318,813,181 |
Financial
Description
|
Authorized Capital(KRW) |
7,040,000,000 |
|
Paid-Up Capital(KRW) |
1,760,000,000 |
|
Total Issues Shares |
352,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Total Assets |
44,227,302,013 |
37,803,638,746 |
26,206,637,257 |
|
Current Assets |
12,986,126,779 |
21,762,831,666 |
13,802,334,023 |
|
-Quick Assets |
7,779,870,133 |
16,380,420,077 |
6,837,501,857 |
|
-Inventories |
5,206,256,646 |
5,382,411,589 |
6,964,832,166 |
|
Fixed Assets |
31,241,175,234 |
16,040,807,080 |
12,404,303,234 |
|
-Investment |
2,139,798,663 |
1,519,290,951 |
1,188,390,889 |
|
-Tangibles |
27,925,822,181 |
13,391,577,600 |
10,091,594,394 |
|
-Intangibles |
113,138,670 |
134,137,669 |
128,517,091 |
|
-Others |
1,062,415,720 |
995,800,860 |
995,800,860 |
|
Total Liabilities |
21,888,906,151 |
17,925,330,256 |
9,026,820,378 |
|
Current Liabilities |
16,288,866,607 |
17,044,584,972 |
8,334,096,880 |
|
Fixed Liabilities |
5,600,039,544 |
880,745,284 |
692,723,498 |
|
Capital Stock |
1,760,000,000 |
1,760,000,000 |
1,760,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
20,578,395,862 |
18,118,308,490 |
15,419,816,879 |
|
Capital Adjustment |
|
|
|
|
Total Equity |
22,338,395,862 |
19,878,308,490 |
17,179,816,879 |
|
Liab. & Shareholder’s Equity |
44,227,302,013 |
37,803,638,746 |
26,206,637,257 |
|
Current Liabilities |
16,288,866,607 |
17,044,584,972 |
8,334,096,880 |
|
Trade Payables |
1,097,064,665 |
1,298,667,575 |
882,164,818 |
|
Short-Term Borrowings |
12,000,000,000 |
13,000,000,000 |
5,050,000,000 |
|
Account Payables |
1,184,586,940 |
1,601,454,773 |
1,460,304,228 |
|
Withholdings |
77,439,070 |
84,891,460 |
127,798,590 |
|
VAT Withhold |
- |
120,087,499 |
304,004,741 |
|
Advance Receipts |
126,806,580 |
49,433,218 |
18,525,000 |
|
Accrued Expenses |
410,476,629 |
374,032,789 |
280,884,272 |
|
Accrued Income Tax |
317,022,723 |
436,377,658 |
121,475,231 |
|
Short-Term Borrowings to Shareholders/
Executives/ Employees |
1,000,000,000 |
- |
|
|
Current Portion of Long-Term Debts |
75,470,000 |
79,640,000 |
88,940,000 |
|
Fixed Liabilities |
5,600,039,544 |
880,745,284 |
692,723,498 |
|
Long-Term Account Payables |
5,579,880,000 |
655,350,000 |
234,990,000 |
|
Provision for Severance & Retirement |
1,167,644,270 |
2,780,817,596 |
2,428,237,163 |
|
Leasehold Deposit Received |
1,000,000 |
1,000,000 |
- |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Sales |
35,041,127,653 |
41,496,901,283 |
33,275,920,006 |
|
Cost of Sold Goods |
27,603,669,239 |
33,067,144,312 |
25,779,529,235 |
|
Gross Profit |
7,437,458,414 |
8,429,756,971 |
7,496,390,771 |
|
Selling & Admin. Expenses |
4,617,628,491 |
4,987,840,883 |
5,341,832,437 |
|
Operating Income |
2,819,829,923 |
3,441,916,088 |
2,154,558,334 |
|
Non-Operating Income |
942,679,897 |
803,831,693 |
924,284,431 |
|
Non-Operating Expenses |
663,416,973 |
516,013,588 |
683,899,161 |
|
Income Before Taxes |
3,099,092,847 |
3,729,734,193 |
2,394,943,604 |
|
Income Taxes Expenses |
639,005,475 |
995,543,178 |
388,547,761 |
|
Net Income |
2,460,087,372 |
2,734,191,015 |
2,006,395,843 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Cash Flows from Operating |
1,820,895,049 |
8,197,096,587 |
-273,320,680 |
|
-Net Income |
2,460,087,372 |
2,734,191,015 |
2,006,395,843 |
|
-Exp. without Cash Outflow |
1,529,440,760 |
1,524,548,705 |
1,651,053,589 |
|
-Revenue without Cash Inflows |
-124,928,439 |
-16,285,777 |
-106,854,902 |
|
-Changes in Asset/ & Liability |
-2,043,704,644 |
3,954,642,644 |
-3,823,915,210 |
|
Cash Flows from Investing |
-5,974,082,454 |
-16,914,357,951 |
-4,214,283,580 |
|
-Cash Inflow from Investing |
65,510,882,687 |
41,428,020,802 |
18,265,777,750 |
|
-Cash Outflows for Investing |
-71,484,965,141 |
-58,342,378,753 |
-22,480,061,330 |
|
Cash Flows from Financing |
4,920,360,000 |
8,491,900,000 |
4,125,520,000 |
|
-Cash Inflows from Financing |
20,700,000,000 |
14,730,840,000 |
7,146,760,000 |
|
-Cash Outflows from Financing |
-15,779,640,000 |
-6,238,940,000 |
-3,021,240,000 |
|
Increase/Decrease in Cash |
767,172,595 |
-225,361,364 |
-362,084,260 |
|
Cash at the Beginning of Year |
300,343,302 |
525,704,666 |
887,788,926 |
|
Cash at the End of Year |
1,067,515,897 |
300,343,302 |
525,704,666 |
Products,
Technologies, Services Description
|
Main Products & Services |
Multi Core Tube, Cable Tray, PVC Cover, Cable Hanger, Condense Case,
Hand Rail, LNG Carrier, Cable Binding Tape(Band Hoop & Buckle),LNG
Fittings |
Trade Partners
& Competitors
|
Customers |
SAMSUNG HEAVY INDUSTRIES CO., LTD.( 110111-0168595) DAEWOO SHIPBUILDING & MARINE ENGINEERING CO., LTD.(110111-2095837) HYUNDAI HEAVY INDUSTRIES CO.,
LTD.(181211-0000386) SAMSUNG HEAVY INDUSTRIES CO.,
LTD.(110111-0168595) HYUNDAI SAMHO HEAVY INDUSTRIES CO.,
LTD.(205411-0003915) |
|
Competitors |
SUNG IL CO., LTD.(SIM) 1587-4, SONGJEONG-DONG, GANGSEO-GU, BUSAN,
KOREA TEL:+82-51-831-8800 FAX:+82-51-831-5959 SEONGHWA INDUSTRIAL CO., LTD. 77-1, CHEONGOK-RI, JINSEONG-MYEON,
JINJU-SI, GYEONGSANGNAM-DO, KOREA TEL:+82-55-790-0100 FAX:+82-55-758-2944 DONG BANG SHIP MACHINERY CO., LTD. 414-2, JUKGOK-DONG, JINHAE-SI,
GYEONGSANGNAM-DO, KOREA TEL:+82-55-545-0882 FAX:+82-55-545-0883 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Cooperative Enterprise |
-Insured Company AIG INSURANCE CO., LTD.(110111-4725010) |
Sales by Region
(Activity & Markets)
The Subject exports to Singapore, China,
Turkey and India.
Not Available
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.97 |
|
|
1 |
Rs.102.90 |
|
Euro |
1 |
Rs.82.02 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NNA |
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.