MIRA INFORM REPORT

 

 

Report Date :

26.07.2014

 

IDENTIFICATION DETAILS

 

Name :

DAEWOO INTERNATIONAL CORPORATION

 

 

Registered Office :

10, Tongil-ro, Jung-gu, Seoul, Korea 13th Fl., Yonsei Severance Bldg.

 

 

Country :

South Korea

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

27.12.2000

 

 

Com. Reg. No.:

104-81-58195

 

 

Legal Form :

Listed Company

 

 

Line of Business :

Wholesale of Non-Specialized Goods

Products such as cold rolled product, auto-component, impassioned performance product, synthetic resin

 

 

No. of Employees

1,186

 

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 :

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)

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. 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 Information

 

Basic

 

Company Name

DAEWOO INTERNATIONAL CORPORATION

(Trade Name : DWIC)

(Korean Company Name : “(주)대우인터내셔널”)

Registered Address

10, Tongil-ro, Jung-gu, Seoul, Korea

Building

13th Fl., Yonsei Severance Bldg.

Zip Code

100-753

Tel

+82-2-759-2114

Fax

+82-2-753-9489

E-mail

webmaster@daewoo.com;jekwak@daewoo.com;jspark6@daewoo.com;

wikim@daewoo.com

Website

www.daewoo.com

Trading Address

10, Tongil-ro, Jung-gu, Seoul, Korea

(Old Address System : 13th Fl., Yonsei Severance Bldg., 84-11, Namdaemunno 5-ga, Jung-gu, Seoul, Korea (C.P.O. Box 2810))

Tel

+82-2-759-2114

Fax

+82-2-753-9489

Other Address-Busan Factory

1746-1, Songjeong-dong, Gangseo-gu, Busan, Korea

Tel

+82-51-960-3114

Fax

+82-51-988-2614

Other Address-Daewoo Dept. Store

28, Sinpodong 2-ga, Masan-si, Gyeongsangnam-do, Korea

Tel

+82-55-240-5000

Fax

 

Type

Export/Import

Industry

Wholesale of Non-Specialized Goods

  Main Business

Cold Rolled Product, Auto-Component, Impassioned Performance Product, Synthetic Resin

  Sub Business

Sale of Motor Vehicle Upholstery, Parts and Accessories

Established (mm/dd/yyyy)

12/27/2000

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Vocational training(86100000)

Sell

Steel plate(30102204)

Sell

Steel(11101704)

Sell

Chemicals including Bio Chemicals and Gas Materials(12000000)

Sell

Fibers(11151500)

Sell

Distribution(80141700)

Sell

Transportation components and systems(25170000)

Sell

Structural materials and basic shapes(30100000)

Sell

Base Metals(11101700)

Sell

Industrial process machinery and equipment and supplies(23150000)

 

CEO’s

 

Name

Jeon Byung-Il

Address

 

Date of Birth

03/01/1955

Title

President & CEO

Sex

Male

Nationality

Korean

 

Profiles

 

Capital (KRW)

569,381,455,000

Employees

1,186

Formation

Listed Company (Koreas Stock Exchange : 047050) as of 03/23/2001

A Company of POSCO Group

Bank Details

Woori Bank-Corporate Finance HQ

Korea Development Bank

Kyungnam Bank

Korea Exchange Bank

Corporate Registered No.

110111-2137358

Business Registered No.

104-81-58195

Permit & Licenses

Int’l Trade No.: 672861

Shareholder Position

Name

Shares

%

POSCO(174611-0000741)

68,681,566

60.31

NATIONAL PENSION SERVICE(110171-0007134)

10,574,587

9.29

OTHERS

34,620,138

30.40

TOTAL

113,876,291

100.00

Company History

03/ 22/1967 Incorporated as Daewoo Industrial Co., Ltd

01/01/1982 Merged with Daewoo Development Co., Ltd; changed name to Daewoo Corporation

12/ 27/2000 DAEWOO INTERNATIONAL CORPORATION established as a result of spin-off plan of DAEWOO CORPORATION

03/ 23/2001 Listed at KSE again

11/ 15/2002 Granted Preliminary Graduation of Work-Out

12/ 30/2003 Completed the Work-Out Program

04/13/2004 Increased capital to 474,943,880,000 KRW from 473,146,840,000 KRW

01/15/2007 Established DAEWOO STC VINA LTD., in Vietnam

02/26/2007 Secured the developing right on Myanmar’ Ocean AD-7 Zone

06/27/2007 Awarded Shareholders’ Value Award

05/19/2008 Moved to the present HQ address from Daewoo Center Bldg., 541, Namdaemunno 5-ga, Jung-gu, Seoul, Korea

05/14/2010 POSCO(174611-0000741) has been designated as a preferable negotiating Partner for M&A on the Subject Company by KOREA ASSET MANAGEMENT CORPORATION(KAMCO : 114671-0023169).

09/20/2010 Acquired 68,681,566 shares(68.2%) by POSCO

11/01/2010 Joined as an affiliated company of POSCO GROUP

 

 

Corporation, Daewoo Engineering and Construction Co., Ltd., and Daewoo Corporation on Dec. 27, 2000, Daewoo International Corporation was renewed as the corporation to deal exclusively with the trade business.

 

As of 03/15/2000, the subject has signed the agreement on Workout with the association of Financial institutes creditors. At 12/30/2003 the subject has been decided the completion of Workout procedure.

 

 

Detailed Information

 

Management

 

Job Description

Title

Name

Nationality

Date of Birth

Education

President & CEO

Mr.

Jeon Byung-Il

Korean

1955.03.01

Seoul National University, Korea

Director

Mr.

Choi Jung-Woo

Korean

1957.04

Busan National University, Korea

Director

Mr.

Jang In-Hwan

Korean

1955.01

Korea University, Korea

Outside Director/Auditor

Mr.

Yoon Je-Cheol

Korean

1947.12.28

Seoul National University, Korea

Outside Director/Auditor

Mr.

You Chang-Moo

Korean

1950.10

Brunel University, UK

Outside Director/Auditor

Mr.

Shin Jae-Hyun

Korean

1946.12.13

Seoul National University, Korea

Outside Director/Auditor

Mr.

Kim Young-Gerl

Korean

1960.07.31

Seoul National University, Korea

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

(*)03/2014

4,801,828,480,000

8,187,030,293,000

24,757,580,000

(*)2013

16,601,357,664,000

7,739,676,359,000

132,540,678,000

(*)2012

16,760,371,965,000

6,989,139,520,000

306,041,024,000

(*)2011

18,489,192,354,000

7,823,738,433,000

160,087,808,000

(*)2010

15,664,736,502,000

6,247,274,381,000

2,207,449,000

2009

11,147,952,355,000

3,885,176,244,000

124,614,287,000

2008

11,045,767,821,000

2,675,256,912,000

88,001,342,000

2007

7,816,148,768,000

2,164,056,142,000

101,990,515,000

2006

6,383,614,771,000

1,928,794,170,000

112,807,879,000

2005

5,144,532,095,000

1,705,368,957,000

172,301,572,000

2004

 5,017,210,407,000

 1,622,774,223,000

 114,053,022,000

(*)Figures are based on the K-IFRS Accounting System.

 

Financial Description

 

Authorized Capital(KRW)

2,500,000,000,000

Paid-Up Capital(KRW)

569,381,455,000

Total Issues Shares

113,876,291

 

Balance Sheet

Unit : Thousand Korean Won

01/01/2014~03/31/2014

As of 12/31/2013

As of 12/31/2012

Total Assets

8,187,030,293

7,739,676,359

6,989,139,520

Current Assets

4,586,064,794

4,153,600,136

3,967,669,104

Cash & Cash Equivalents

69,649,524

73,731,625

196,540,551

Trade Receivables & Other Receivables

3,854,681,594

3,545,168,436

3,209,963,288

Other Current Financial Instruments

21,227,606

23,305,542

26,881,207

Derivatives

41,011,228

24,388,330

50,708,467

Other Current Assets

100,704,778

77,464,078

100,568,424

Inventories

498,790,064

409,542,125

383,007,167

Non-Current Assets

3,600,965,499

3,586,076,223

3,021,470,416

Long-Term Trade Receivables & Other Receivables

522,158,247

504,717,416

447,320,397

Other Non-Current Financial Instruments

326,196,964

323,232,143

249,975,299

Investment_Related Companies

721,685,912

701,533,933

624,311,748

Tangibles

383,925,406

394,807,320

362,921,262

Intangibles

1,534,229,300

1,527,354,524

1,252,423,933

Investment_Real Estates

45,605,798

45,725,923

25,324,637

Deferred Income Tax Assets

67,163,872

88,704,964

59,193,140

Total Liabilities

5,980,823,488

5,524,030,121

4,866,241,996

Current Liabilities

4,546,682,095

4,086,892,017

3,494,434,855

Trade Payables & Other Payables

1,478,937,168

1,711,544,393

1,196,115,129

Short-Term Borrowings

2,669,625,196

1,994,328,289

1,903,315,522

Current Portion of Debenture

213,397,808

210,476,368

 

Derivatives

37,293,044

34,500,229

54,260,781

Other Current Liabilities

143,915,939

102,826,239

95,127,292

Deferred Income Tax Credit

3,512,940

33,216,499

245,616,131

Non-Current Liabilities

1,434,141,393

1,437,138,104

1,371,807,141

Long-Term Trade Payables & Other Payables

20,478,186

22,378,162

15,546,591

Long-Term Borrowings

565,167,001

557,887,813

568,496,763

Debentures

804,402,368

802,181,428

718,534,932

Other Non-Current Debts

3,593,136

3,593,136

19,940,459

Provision for Severance & Retirement

4,867,565

16,332,579

14,004,671

Provisions

35,633,137

34,764,986

35,283,725

Capital Stock

569,381,455

569,381,455

569,381,455

Capital Surplus

333,160,807

333,160,807

333,160,807

Others

29,035,289

29,136,160

29,947,011

Profit Surplus

1,274,629,254

1,283,967,816

1,190,408,251

Total Equity

2,206,206,805

2,215,646,238

2,122,897,524

Liab. & Shareholder’s Equity

8,187,030,293

7,739,676,359

6,989,139,520

 

Income Statement

Unit : Thousand Korean Won

01/01/2014~03/31/2014

As of 12/31/2013

As of 12/31/2012

Sales

4,801,828,480

16,601,357,664

16,760,371,965

Cost of Sold Goods

4,578,335,854

15,802,378,599

15,945,974,644

Gross Profit

223,492,626

798,979,065

814,397,321

Selling & Admin. Expenses

167,209,208

659,949,406

685,573,644

Operating Income

56,283,418

139,029,659

128,823,677

Finance Income

239,249,101

892,903,873

1,357,099,624

Finance Expenses

255,690,400

857,673,859

1,038,080,227

Other Non-Operating Income

1,847,381

10,821,631

74,935,553

Other Non-Operating Expenses

4,130,566

15,821,654

63,783,779

Income Before Taxes

37,558,934

169,259,650

458,994,848

Income Taxes Expenses

12,801,354

21,313,065

162,517,695

Income from Continuous Business

24,757,580

147,946,585

296,477,153

Income from Stopped Business

 

-15,405,907

9,563,871

Net Income

24,757,580

132,540,678

306,041,024

 

Cash Flows

Unit : Thousand Korean Won

01/01/2014~03/31/2014

As of 12/31/2013

As of 12/31/2012

Operating Activities Cash Flows

-611,195,980

-170,795,791

640,152,076

Net Income

24,757,580

132,540,678

306,041,024

Adjustment

-629,107,987

-14,312,508

378,128,124

Interests Received

9,191,920

8,387,950

48,735,327

Dividends Received

7,128,862

28,357,796

53,099,216

Interests Paid

-13,207,465

-69,260,840

-144,700,044

Income Taxes

-9,958,890

-256,508,867

-1,151,571

Cash Flows from Investing

-57,277,520

-311,454,119

667,944,376

Cash Flows from Financing

664,430,417

359,729,953

-1,385,743,486

Increase/Decrease in Cash

73,731,625

196,540,551

274,375,106

Cash at the Beginning of Year

-4,082,101

-122,808,926

-77,834,555

Cash at the End of Year

69,649,524

73,731,625

196,540,551

 

Products, Technologies, Services Description

 

Main Products & Services

Steel, Metal, Chemical, Automotive and Component, Machinery, Media and Electronics, Textiles, Commodity and Energy

 

International trading, resource development in foreign countries, domestic and international investments in business, foreign projects, support of small and medium sized companies

Detailed Products Spec.

 

Technologies Acquired

 

 

Trade Partners & Competitors

 

Suppliers

TSM TECH CO., LTD.

4BA-505-1, SIHWA INDUSTRIAL COMPLEX, 748-6, SEONGGOK-DONG, DANWON-GU, ANSAN-SI, GYEONGGI-DO 425-110 KOREA

TEL: 82-31-432-5511 FAX: 82-31-432-0412

INDUSTRY: MANUFACTURE OF ALL OTHER SPECIAL PURPOSE MACHINERY, N.E.C.

 

DONG HWA CO., LTD.

584-1, GAJWA 1-DONG, SEO-GU, INCHEON 404-812 KOREA

TEL: 82-32-870-1500 FAX: 82-32-867-2238

INDUSTRY: MANUFACTURE OF OTHER PARTS AND ACCESSORIES FOR MOTOR VEHICLES

 

SSANGYONG MOTOR CO.,LTD.(110111-0035132)

150-3, CHILGOE-DONG, PYEONGTAEK-SI, GYEONGGI-DO, KOREA

TEL:+82-31-610-1114  FAX:+82-31-610-3700

INDUSTRY: MANUFACTURE OF PASSENGER MOTOR VEHICLES

Customers

Payment: In case of exporting, mostly it is paid by D/A, D/P and USANCE base with Export Insurance coverage.

Competitors

SK NETWORKS CO., LTD.(130111-0005199)

HYOSUNG CORPORATION(110111-0030497)

LG INTERNATIONAL CORPORATION(110111-0004632)

SAMSUNG C&T CORPORATION(110111-0002975)

HYUNDAI CORPORATION(110111-0205850)

SSANGYON CORPORATION(110111-0031479)

 

Related Parties (Subsidiaries, Joint-Venture & Affiliates)

 

Affiliates

POSCO(174611-0000741)

POSCO COATED & COLOR STEEL CO., LTD.(174611-0006492)

POSCO ENGINEERING & CONSTRUCTION CO., LTD.(174611-0002979)

POSDATA CO., LTD.(110111-0658637)

POSCO REFRACTORIES & ENVIRONMENT CO., LTD.(174611-0001947)

SAMJUNG PACKING AND ALUMINUM CO., LTD.(174611-0000866)

POS-A.C. CO., LTD.(174611-0003448)

POSCO ENGINEERING & CONSTRUCTION CO., LTD.(174611-0002979)

POSCO RESEARCH INSTITUTE(110111-1042350)

POSCO CHEMTECH CO., LTD.(174611-0001947)

POSTEEL(110111-0344591)

POSCO SPECIALTY STEEL CO., LTD. (194211-0025248)

POSMEC(POSCO MACHINERY & ENGINEERING CO., LTD.)(174611-0012176)

POSCO TERMINAL CO., LTD.(204611-0017575)

POSTECH VENTURE CAPITAL COOPERATION (174611-0029080)

POSMATE CO., LTD.(110111-0739841)

POSCO POWER CORPORATION(110111-1829576)

SNNC CO., LTD.(204611-0023415)

PHP CO., LTD.(120111-0421545)

POSBRO(110111-3528986)

SUWON GREEN ENVIRONMENT CORPORATION(134811-0133794)

POSCORE CO., LTD.(134811-0003343)

RIZTECH BIZ CO., LTD.

POSWITH CO., LTD.(171711-0075927)

P&R CO., LTD.

UITRANS CO., LTD.(110111-3792309)

BASYS INDUSTRY CO. LTD.(110111-0954647)

UNIVERSAL STUDIOS RESORT DEVELOPMENT CORPORATION(134811-0167222)

METAPOLIS CO., LTD.(134811-0094475)

SEOUNG GWANG CO., LTD.(120111-0222844)

CHEONGNA IBT CO., LTD.(120111-0454520)

POHANG FEUL CELL CO., LTD.(171711-0076256)

MEGA ASSET CO., LTD.(161511-0097480)

DAEWOOENGINEERING COMPANY CO., LTD.(110111-0203268)

POS ECO HOUSING CO., LTD.( 171711-0085893)

DAKOS CO., LTD.(131111-0246297)

MAPO HYBROAD PARKING CO., LTD.(110111-4250140)

GWANGYANG FSC CO., LTD.(204611-0031385)

POSPLATE CO., LTD.(204611-0031252)

POS CALCIUM CO., LTD.(171711-0086180)

(70.0% held by the subject company)

Affiliates & Companies invested by the subject company

KYOBO LIFE INSURANCE CO., LTD. (110111-0014970)

(24.0% held by the subject company)

 

MYANMAR KOREA TIMBER INT'L LTD.

(45.0% held by the subject company)

 

KOSVIDA AGROCHEMICAL CO., LTD.

HANJUNG POWER LTD.

(49.0% held by the subject company)

 

VOGUE CENTURY LTD.

KOREA LNG LTD.

(20.0% held by the subject company)

 

DAEWOO INT'L (AMERICA) CORP

(100.0% held by the subject company)

 

DAEWOO INT'L (DEUTSCHLAND) GMBH

(100.0% held by the subject company)

 

DAEWOO INT'L JAPAN CORP

(100.0% held by the subject company)

 

DAEWOO INT'L SINGAPORE PTE LTD.

(100.0% held by the subject company)

 

MYANMAR DAEWOO INT'L LTD.

(55.0% held by the subject company)

 

DAEWOO CEMENT (SANDONG) CO., LTD.

(100.0% held by the subject company)

 

GEZIRA TANNERY CO., LTD.

(60.0% held by the subject company)

 

DAEWOO(CHINA) CO., LTD.

(100.0% held by the subject company)

 

MYANMAR DAEWOO LTD.

(100.0% held by the subject company)

 

DAEWOO TEXTILE COMPANY

(100.0% held by the subject company)

 

DAEWOO TEXTILE (H.K) LTD

(100.0% held by the subject company)

 

DAEWOO ITALIA S.R.L

(100.0% held by the subject company)

 

PT. RISMAR DAEWOO APPAREL

(88.15.0% held by the subject company)

 

GENERAL MEDICINES CO., LTD

(33.0% held by the subject company)

Affiliates & Companies invested by the subject company

DAYTEK ELECTRONICS CORP

(100.0% held by the subject company)

 

DAEWOO APPAREL VIETNAM LTD

(100.0% held by the subject company)

 

PT. INTERNATIONAL STEEL INDONESIA

(51.0% held by the subject company)

 

DAEWOO TEXTILE FERGANA LLC

(100.0% held by the subject company)

 

DMSA

(2.75% held by the subject company)

 

DAEWOO STC VINA LTD

(100.0% held by the subject company)

 

POSCO MEXICO PROCESSING CENTER HOLDING, LLC

(29.0% held by the subject company)

 

DAEWOO TEXTILE BUKHARA LLC

(100.0% held by the subject company)

 

DAEWOO INT'L AUSTRALIA PTY LTD.

(100.0% held by the subject company)

 

DAEWOO INT'L MEXICO S.A. de C.V.

(100.0% held by the subject company)

 

POS-ESDC LTD.

(20.0% held by the subject company)

 

KG POWER(M) SDN. BHD

(20.0% held by the subject company)

 

DAEWOO AAPC

(100.0% held by the subject company)

Affiliates & Companies invested by the subject company

KYOBO LIFE INSURANCE CO., LTD. (110111-0014970)

(24.0% held by the subject company)

 

MYANMAR KOREA TIMBER INT'L LTD.

(45.0% held by the subject company)

 

KOSVIDA AGROCHEMICAL CO., LTD.

HANJUNG POWER LTD.

(49.0% held by the subject company)

 

VOGUE CENTURY LTD.

KOREA LNG LTD.

(20.0% held by the subject company)

 

DAEWOO INT'L (AMERICA) CORP

(100.0% held by the subject company)

 

DAEWOO INT'L (DEUTSCHLAND) GMBH

(100.0% held by the subject company)

 

DAEWOO INT'L JAPAN CORP

(100.0% held by the subject company)

 

DAEWOO INT'L SINGAPORE PTE LTD.

(100.0% held by the subject company)

 

MYANMAR DAEWOO INT'L LTD.

(55.0% held by the subject company)

 

DAEWOO CEMENT (SANDONG) CO., LTD.

(100.0% held by the subject company)

 

GEZIRA TANNERY CO., LTD.

(60.0% held by the subject company)

 

DAEWOO(CHINA) CO., LTD.

(100.0% held by the subject company)

 

MYANMAR DAEWOO LTD.

(100.0% held by the subject company)

 

DAEWOO TEXTILE COMPANY

(100.0% held by the subject company)

 

DAEWOO TEXTILE (H.K) LTD

(100.0% held by the subject company)

 

DAEWOO ITALIA S.R.L

(100.0% held by the subject company)

 

PT. RISMAR DAEWOO APPAREL

(88.15.0% held by the subject company)

 

GENERAL MEDICINES CO., LTD

(33.0% held by the subject company)

Affiliates & Companies invested by the subject company

DAYTEK ELECTRONICS CORP

(100.0% held by the subject company)

 

DAEWOO APPAREL VIETNAM LTD

(100.0% held by the subject company)

 

PT. INTERNATIONAL STEEL INDONESIA

(51.0% held by the subject company)

 

DAEWOO TEXTILE FERGANA LLC

(100.0% held by the subject company)

 

DMSA

(2.75% held by the subject company)

 

DAEWOO STC VINA LTD

(100.0% held by the subject company)

 

POSCO MEXICO PROCESSING CENTER HOLDING, LLC

(29.0% held by the subject company)

 

DAEWOO TEXTILE BUKHARA LLC

(100.0% held by the subject company)

 

DAEWOO INT'L AUSTRALIA PTY LTD.

(100.0% held by the subject company)

 

DAEWOO INT'L MEXICO S.A. de C.V.

(100.0% held by the subject company)

 

POS-ESDC LTD.

(20.0% held by the subject company)

 

KG POWER(M) SDN. BHD

(20.0% held by the subject company)

 

DAEWOO AAPC

(100.0% held by the subject company)

Overseas Office

DAEWOO INT'L(JAPAN) CORP. OSAKA BRANCH

NIHON SEIMEI YODOYABASHI BLDG, 8TH FL., 5-29, 3-CHOME, KITAHAMA, CHUO-KU, OSAKA, 541-0041 JAPAN

TEL:+81-6-6222-0848~9 FAX:+81-6-6222-0865

 

DAEWOO INT'L(JAPAN)CORP. NAGOYA BRANCH

6F,NAGOYA HIROKOJI BLDG 3-1,SAKAE 2CHOME, NAKA-KU. NAGOYA, 460-0008 JAPAN

TEL:+81-52-222-3717 FAX:+81-52-222-3719

 

DAEWOO INT’L LONDON BRANCH OFFICE

10TH FLOOR CI TOWER ST.GEORGES SQUARE, NEW MALDEN, SURREY KT3 4HH,UNITED KINGDOM

TEL:+44-208-336-9131~3 FAX:+44-208-949-3783

 

OFICINA DE MADRID

CAPITAN HAYA, 56, 6FLOOR-D, 28020 MADRID, SPAIN

TEL:+34-91-571-0563 FAX:+34-91-571-6827

 

ISTANBUL OFFICE

CUMHURIYET CAD.MERKEZ APT.163/7, 34373 ELMADAG - ISTANBUL TURKEY

TEL:+90-212-232-1567/1592/1757 FAX:+90-212-232-1994

 

MOSCOW OFFICE

LENINSKY PROSPECT 158. HOTEL SALYUT, OFFICE 303, MOSCOW, 117571, RUSSIA

TEL:+7-095-234-9242/9244 FAX:+7-095-234-9249

 

TASHKENT OFFICE

4TH FLOOR, 1, BUKHARA STEET, TASHKENT, 700015, UZBEKISTAN

TEL:+998-71-133-0111, 0311 FAX:+998-71-133-2114

 

TORONTO BRANCH

SUITE #403,1500 DON MILLS ROAD, NORTH YORK, ONTARIO CANADA, M3B 3K4

TEL:+1-416)510-2886 FAX:+1-416)510-0908

 

MEXICO BRANCH

BOSQUES DE CIRUEOS NO,130-5 PISO, COL, BOSQUES DE LAS LOMAS C.P.11700 MEXICO D.F.,MEXICO

TEL:+52-55)5596-5757,4243 FAX:+52-55)5596-1585

 

SUCURSAL BUENOS AIRES

TALCAHUANO 833, PISO 7 - F, (C1013AAQ) CAP. FED. BUENOS AIRES, ARGENTINA

TEL:+54-11)4816-3201 FAX:+54-11)4815-1158

 

DAEWOO DO BRASIL IMP. E EXP LTDA

AV. PAULISTA 777, 13 ANDAR CEP-0311-100, SAO PAULO-S.P, BRASIL

TEL:+55-11)3285-5699 FAX:+55-11)3266-4125

Overseas Office

BEIJING REPRESENTATIVE OFFICE

OFFICE C-701, BEIJING LUFTHANSA CENTER 50 LIANGMAQIAO ROAD, CHAOYANG DISTRICT BEIJING 100016, CHINA

TEL:+ 86-10-6465-2226 FAX:+86-10-6465-1531, 1532

 

SHANGHAI OFFICE

ROOM 1303-1309 RUIJIN B/D 205, MAO-MING ROAD(SOUTH)

TEL:+86-21-6472-4280 FAX:+86-21-6472-0437

 

DALIAN OFFICE

DALIAN WORLD TRADE CENTER ROOM 2602 NO.25, TONGXING STREET, ZHONGSHAN DISTRICT, DALIAN, CHINA

TEL:+86-411-8253-0808 FAX:+86-411-8253-0070

 

HARBIN OFFICE

HARBIN BAOIL TECHNICAL BUILDING #810 NO. 93 ZHONGSHAN ROAD, XIANGFANG DISTRICT, HARBIN,HEILONGJANG PROV., CHINA(POSTAL CODE :150036)

TEL:+86-451-8233-0434, 0466, 6431 FAX:+86-451-8233-0264

 

CHANGCHUN OFFICE

NOBLE HOTEL ROOM. 818 NO.4501 REMIN STREET, CHANGCHUN, JILIN PROVINCE, CHINA(POSTAL CODE :130021)

TEL:+86-431-563-0676, 567-4753 FAX:+86-431-567-4759

 

SHENYANG OFFICE

SHENYANG TIMES PLAZA 6 F1.NO.99 BEIZHAN ROAD, SHENHE DISTRICT, SHENYANG, LIAONING PROVINCE, CHINA(POSTAL CODE :110013)

TEL:+86-24-2253-4496 FAX:+86-24-2253-4529

 

QINGDAO OFFICE

#703, FUTAI PLAZA OFFICE TOWER, NO. 18 HONGKONG ZHONG ROAD, QINGDAO CHINA

TEL:+86-532-8573-1688/8788 FAX:+86-532-8572-7588

 

WUHAN BRANCH

#709 WUHAN INT'L TRADE COMMERCE CENTER. NO. 566, JIANSHE AVE, WUHAN CHINA,(POSTAL CODE: 430022)

TEL:+86-27-8577-0993 FAX:+86-27-8577-0992

 

GUANGZHOU REPRESENTITIVE OFFICE

ROOM 1301, GITIC PLAZA MAIN BLDG. 339 HUANSHI DONG ROAD, GUANGZHOU, CHINA

TEL:+86-20-8331-1371 FAX:+86-20-8331-2789

 

KUNMING OFFICE

ROOM 915 HORIZON JIANGUO HOTEL, 432 QINGNIAN ROAD, KUNMING, YUNNAN, CHINA(POSTAL CODE : 650021)

TEL:+86-871-318-3373 FAX:+86-871-318-0371

 

SHANTOU REPRESENTATIVE OFFICE

B/18F EVERGREEN BUILDING, EAST JINSHA ROAD, SHANTOU, CHINA(POSTAL CODE : 515041)

TEL:+86-754-816-3442~4, 816-9536 FAX:+ 86-754-816-3445

Overseas Office

TAIWAN BRANCH

8FL-1, NO.51, KEELUNG RD., SEC2, TAIPEI, TAIWAN

TEL:+ 886-2-8732-5557  FAX:+886-2-8732-5537/5856/5857

 

AUSTRALIA REPRESENTATIVE OFFICE

SUITE 2 LEVEL 4, 621 PACIFIC HIGHWAY ST. LEONARDS, NSW 2065 AUSTRALIA

TEL:+ 61-2-9906-7355 FAX:+61-2-9906-7588

 

MANILA REPRESENTATIVE OFFICE

5TH FLOOR. PACIFIC STAR BLDG., SEN. GIL J. PUYAT AVENUE COR. MAKATI AVENUE, MAKATI CITY. PHILIPPINES

TEL:+63-2-818-1031~2 FAX:+63-2-817-5267

 

HANOI OFFICE

3RD FLOOR, OFFICE TOWER, DAEHA BUSINESS CENTER, 360 KIM MA ST., BA DINH DISTRICT, HANOI, S.R. VIETNAM

TEL:+84-4-8315220 FAX:+84-4-8317889

 

HOCHIMINH OFFICE

117-121 LE LOI ST. 1ST FLOOR, , DIST.1, HOCHIMINH CITY, S.R.VIETNAM

TEL:+84-8-821-7740 FAX:+84-8-821-7750

 

BANGKOK OFFICE

UNIT 1901-1902, M.THAI TOWER, ALL SEASONS PLACE, 87 WIRELESS ROAD, LUMPINI, PATHUMWAN, BANGKOK 10330,THAILAND

TEL:+66-2-654-0124­~8 FAX:+66-2-654-0129

 

JAKARTA BRANCH

LIPPO PLAZA 7TH FLOOR JL. JEND. SUDIRMAN KAV 25, JAKARTA 12920 INDONESIA P.O.BOX 2810

TEL:+62-21-520-4520 FAX:+62-21-520-3478

 

NEW DELHI OFFICE

4/6, FIRST FLOOR, SIRIFORT INSTITUTIONAL AREA,NEW DELHI-110049, INDIA

TEL:+91-11-649-8201~3 FAX:+91-11-649-5387, 4792

Overseas Office

NEW DELHI OFFICE

4/6, FIRST FLOOR, SIRIFORT INSTITUTIONAL AREA,NEW DELHI-110049, INDIA

TEL:+91-11-649-8201~3 FAX:+91-11-649-5387, 4792

 

TEHRAN BRANCH

NO. 27, REZA NAYEBI ST., VESSAL SHIRAZI AVE., P.O. BOX 14155-3531, TEHRAN, IRAN

TEL:+98-21-646-3571~7 FAX:+98-21-646-9805, 649-2057

 

DUBAI BRANCH

P.O.BOX 8090 FLAT NO.221 OUD METHA BLDG., AL GARHOUD ROAD, DUBAI, U.A.E.

TEL:+971-4-324-8240 FAX:+971-4-324-8241

 

TEL AVIV OFFICE

FLOOR 12TH, AVIV TOWER BLDG. A, 48PETACH TIKVA ROAD. TEL AVIV 66184, ISRAEL

TEL:+972-3-537-2292 FAX:+972-3-537-2286

 

RIYADH OFFICE

KING FAISAL FOUNDATION BLDG. SOUTH TOWER, 8TH FLOOR, P.O.BOX 89644, RIYADH 11692 SAUDI ARABIA

TEL:+966-1-464-6814, 6211 FAX:+966-1-464-6814

 

AMMAN OFFICE

QATEEF STR., HOUSE #24, UMM OTHINA, AMMAN, JORDAN

TEL:+962-6-553-6451~2 FAX:+962-6-553-6453

 

BAGHDAD OFFICE

NO. 10 STREET, 29 QT, 601, MANSUR, BAGHDAD, IRAQ

TEL:+964-1-543-1663, 5701 FAX:+964-1-542-9258

 

CAIRO LIAISON OFFICE

FLAT NO. 64, GEZIRAH TOWER 1, ROAD NO. 151, MAADL CAIRO, EGYPT

TEL:+20-2-525-6012, 524-0810 FAX:+20-2-525-6015

 

NAIROBI BRANCH

INTERNATIONAL HOUSE 5TH FLOOR, MAMA NGINA STEERT P.O.BOX 43739 G.P.O NAIROBI KENYA

TEL:+254-20-316108, 316109 FAX:+254-20-316135

Overseas Office

RABAT BRANCH

ANGLE RUE DE HONAINE ET 16 NOVEMBRE, IMM 2, APT 11 AGDAL, B.P 8153 RABAT, MOROCCO

TEL:+213-37-674509 FAX:+212-37-674510

 

ALGERIA BRANCH

HOTEL INTERNATIONAL ALGER, ROOM #225, PINS MARITIMES, ALGER, ALGERIA

TEL:+213-21-210752 FAX:+213-21-219796

 

TUNIS OFFICE

CHEZ SOREPRAS, 92, RUE 18, JANVIER 1952 1001 TUNIS, TUNISIA

TEL:+216-71-334051 FAX:+216-71-334051

 

LUANDA OFFICE

AV.HIJI YA HENDA, TORRE B, 2O. ANDAR, APTO. B(AO ESTADIO DA CIDADELA),  P.O.BOX 513, LUANDA, ANGOLA

TEL:+244-2-263635, 263931, 263966 FAX:+244-2-263670

 

JOHANNESBURG BRANCH

1ST FLOOR, FEDSURE TOWERS 13 FREDMAN DRIVE SADOWN, SANDTON 2196 REPUBLIC OF SOUTH AFRICA P.O.BOX 786734 SANTON 2146 SA

TEL:+27-11-784-1326 FAX:+27-11-784-1301

Liaison Office

 

Overseas Branch

 

Joint Venture

 

Subsidiary

DAEWOO INT'L (AMERICA) CORP.(USA)

(100.0% held by the subject company)

 

DAEWOO INT'L JAPAN CORP.(Japan)

(100.0% held by the subject company)

 

DAEWOO INT'L (DEUTSCHLAND) GmbH.(Germany)

(100.0% held by the subject company)

 

DAEWOO ITALIA S.R.L.(Italy)

(100.0% held by the subject company)

 

PT. RISMAR DAEWOO APPAREL(Indonesia)

(100.0% held by the subject company)

 

DAEWOO TEXTILE COMPANY(Uzbekistan)

(100.0% held by the subject company)

 

DAEWOO CEMENT(SHANDONG) CO., LTD.(China)

(100.0% held by the subject company)

 

DAEWOO(CHINA) CO., LTD.(China)

(100.0% held by the subject company)

 

GEZIRA TANNERY CO.,LTD.(Sudan)

(60.0% held by the subject company)

 

DAEWOO INT'L SINGAPORE PTE. LTD.(Singapore)

(100.0% held by the subject company)

 

DAYTEK ELECTRONICS CORPORATION(Canada)

(100.0% held by the subject company)

 

DAEWOO TEXTILE FERGANA LLC.(Uzbekistan)

(100.0% held by the subject company)

 

PT. INTERNATIONAL STEEL INDONESIA(Indonesia)

(51.0% held by the subject company)

 

SOZHOU JINWOO TEXTILE DYEING CO., LTD.(China)

(90.2% held by the subject company)

 

DAEWOO PAPER GOBOON CO., LTD.(China)

(59.9% held by the subject company)

 

DAEWOO INTERNATIONAL AUSTRALIA PTY LTD.

(100.0% held by the subject company)

 

MYANMAR DAEWOO INT'L CORP.

(100.0% held by the subject company)

 

DAEWOO INT'L VIETNAM CO., LTD.

(100.0% held by the subject company)

 

DAEWOO INT'L CAMEROON S.A.

(100.0% held by the subject company)

Subsidiary

DAEWOO POWER AND INFRA (PTY) LTD.(SOUTH AFRICA)

HANJUNG POWER LTD.(PNG)

DAEWOO PRECIOUS RESOURCES CO., LTD.(MYANMAR)

Corporate Ownership

POSCO(174611-0000741)

Major Shareholders

POSCO(174611-0000741)

Cooperative Enterprise

SAUDI STEEL PIPE-SAUDI ARABIA

SEARS / K-MART -USA

ASH / ARGOS - USA

PDC-VIETNAM

MPE - MYANMAR

UNIPLAST - UKRAINE

CEMEX TRADING LLC - USA

VYKSA - RUSSIA

PWP - USA

CHERRY AUTOMOBILE - CHINA

MYGYAR SUZUKI – JAPAN

 

-Insured Company

LIG INSURANCE CO., LTD(110111-0017859)

 

Sales by Region (Activity & Markets)

 

Sales/ Unit :Mil KRW

2010

2009

2008

Export

8,055,495

  5,963,358

  6,141,132

Domestic

 758,524

    426,862

     279,961

Others

6,857,985

  4,757,732

  4,624,675

Total

15,672,004

 11,147,952

 11,045,768

 

Court Action

 

Case No.

Court

Plaintiff(s)/ Creditor(s)/ Applicant(s)

Defendant(s)/ Debtor(s)/ Respondent(s)

Cause

Amount (KRW)

Status

 

 

Kim Jae-Cheon & Others(1)

The Subject Company

Refund of Inappropriate profit

USD 433,000

proceeding

 

 

Park Bae-Ok & Others(627)

The Subject Company

Salaries

628,000,000

proceeding

 

 

Han Chang-Eun & Others(46)

The Subject Company

Salaries

47,000,000

proceeding

 

 

DAEWOO CORPORATION(110111-0150138)

The Subject Company

Surplus

500,000,000

proceeding

 

 

LBA

The Subject Company

Claim for Damages

EUR 5,000,000

Proceeding

05/2002

Mumbai District Court

IDBI

The Subject Company

Guaranteed Liabilities

INR 4,458,849

Proceeding

 

 

IRAQ

The Subject Company

Claim for Compensation from  Damages

-

Proceeding

 

 

Logistec USA Inc.

The Subject Company

Claim for Damages

USD 75,000

Proceeding

 

 

CBX RESOURCES, LLC

The Subject Company

Claim for Damages

-

Proceeding

 

 

Bayoil (USA), Inc

The Subject Company

Claim for Damages

-

Proceeding

 

 

Petrochemical Commercial Company

The Subject Company

Receivables

EUR 3,270,000

Proceeding

 

 

Henghou Industries (Hong Kong) Limited

The Subject Company

Claim for Damages

CNY 14,089,000

Proceeding

 

 

Ningbo Foreign TradeCo., Ltd.

The Subject Company

Claim for Damages

CNY 28,112,000

Proceeding

 

 

Dynatec Madagascar

The Subject Company

Claim for Damages

USD 199,862,000

Proceeding

 

 

News Clipping

 

--

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.14

UK Pound

1

Rs.102.22

Euro

1

Rs.81.02

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.