MIRA INFORM REPORT

 

 

Report Date :

29.07.2014

 

IDENTIFICATION DETAILS

 

Name :

DONGBU DAEWOO ELECTRONICS CORPORATION

 

 

Registered Office :

432, Teheran-ro, Gangnam-gu, Seoul, Korea 27th Fl., Dongbu Finance Center 135-523

 

 

Country :

South Korea

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

10.05.1987

 

 

Com. Reg. No.:

410-81-06501

 

 

Legal Form :

Co., Ltd by shares

 

 

Line of Business :

Manufacture of Television and Radio Receivers, Sound or Video Recording or Reproducing Apparatuses, and Related Goods

 

 

No. of Employees

1,493

 

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

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. 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

DONGBU DAEWOO ELECTRONICS CORPORATION

(Ex. Company Name : DAEWOO ELECTRONICS CORPORATION)

Registered Address

432, Teheran-ro, Gangnam-gu, Seoul, Korea

Building

27th Fl., Dongbu Finance Center

Zip Code

135-523

Tel

+82-2-360-7114

Fax

+82-2-364-5588

E-mail

admin@dwe.co.kr

Website

www.dwe.co.kr

Trading Address

27th Fl., Dongbu Finance Center, 432, Teheran-ro, Gangnam-gu, Seoul, Korea

(Old Address System : Dongbu Finance Center, 891-10, Daechi 4-dong, Gangnam-gu, Seoul, Korea)

Tel

+82-2-360-7114

Fax

+82-2-360-7873

Other Address

17-13, Yeouido-dong, Yeongdeungpo-gu, Seoul, Korea

Tel

+82-2-3215-5822

Other Address

223-27, Sangdaewon-dong, Jungwon-gu, Seongnam-si, Gyeonggi-do, Korea

Tel

+82-2-360-7114

Other Address-Gumi Factory(Audio/Video)

295, Gongdan-dong, Gumi-si, Gyeongsangbuk-do, Korea

Tel

+82-54-467-7114

Fax

+82-54-461-8788

Other Address-R&D Center

412-2, Cheongcheon 2-dong, Bupyeong-gu, Incheon, Korea

Tel

+82-32-510-7104

Fax

+82-32-523-8103

Other Address-Incheon Factory(Refregerator)

604, Yonghyeon-dong, Nam-gu, Incheon, Korea

Tel

+82-32-880-5114

Fax

+82-32-880-5005

Other Address-Incheon Factory(VCR Drum)

541-5, Gajwa 3-dong, Seo-gu, Incheon, Korea

Tel

+82-32-570-7600

Other Address-Yongin Factory(Air Conditioner)

638-1, Tongsam-ri, Namsa-myeon, Cheoin-gu, Yongin-si, Gyeonggi-do, Korea

Tel

+82-31-329-8114

Fax

+82-31-329-8011

Other Address-Gwangju Factory(Living/Kitchen)

Daewoo Electronics Corp., 981-1, Jangdeok-dong, Gwangsan-gu, Gwangju, Korea

Tel

+82-62-950-8114

Fax

+82-62-951-2010

Other Address-Yongin Factory(Motor)

988-1, Jangdeok-dong, Gwangsan-gu, Gwangju, Korea

Tel

+82-62- 952-2011

Fax

 

Type

Export/Import

Industry

Manufacture of Television and Radio Receivers, Sound or Video Recording or Reproducing Apparatuses, and Related Goods

  Main Business

PDP, PVR, HDTV, TV, Digital Video, Refrigerator, Washing Machine, Air Conditioner

  Sub Business

Manufacture of Electric Appliances for Kitchen

Established (mm/dd/yyyy)

10/05/1987

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Motors(26101600)

Sell

Domestic microwave ovens(52141502)

Sell

Domestic refrigerators(52141501)

Sell

Video cassette players or recorders(52161529)

Sell

Industrial freezers(24131600)

Sell

Televisions(52161505)

-Receiving HD broadcasting

Sell

Air conditioners(40101701)

Sell

Vacuum cleaners(47121602)

Sell

Domestic clothes washers(52141601)

Buy

Steel plate(30102204)

Buy

Copper pipe(40142110)

 

 

CEO’s

 

Name

Choi Jin-Kyun

Address

Suite 1102-901, 220, Yanghyeon-ro, Bundang-gu, Seongnam-si, Gyeonggi-do, Korea

Date of Birth

03/28/1949

Title

President & CEO

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

167,264,155,000

Employees

1,493

Formation

Co., Ltd by shares

A Company of Dongbu Group

Bank Details

Woori Bank-Daewoo Center Branch

Busan Bank

Shinhan Bank

Gwangju Branch

Corporate Registered No.

110111-0546452

Business Registered No.

410-81-06501

Permit & Licenses

06/1999 ISO 9001 by BSI

 

Int’l Trade No.: 474076

Shareholder Position

Name

Shares

%

DONGBU HITEK CO., LTD.(110111-0026206)

20,346,533

18.34

KIM JOON-KI

10,176,098

9.17

BILTECH CO., LTD.(110111-1575450)

8,140,878

7.34

SAM DONG ENTERPRISE CO., LTD.(110111-0332801)

6,105,659

5.50

THE KOREA SECURITIES FINANCE CORPORATION(110111-0025943)

18,156,397

16.36

PROJECT DAVINCI LLC.(110114-0124814)

14,357,810

12.94

SBI PAN ASIA FUND

5,994,386

5.40

OTHERS

27,684,661

24.95

TOTAL

110,962,422

100.00

(*)The list is based as of 12/31/2013.

Company History

10/05/1987 Incorporated as DAEWOO MOTOR INDUSTRIAL CO., LTD.

10/25/2002 Changed company name to the present name by acquiring Video/ Air Conditioning /Living Div.

10/28/2002 Moved to Credit Center Bldg., 686, Ahyeon 3-dong, Mapo-gu, Seoul, Korea from 988-1, Jangdeok-dong, Gwangsan-gu, Gwangju, Korea.

11/25/2002 Agreed to proceed Work Out Program with Creditors’ Association

12/18/2002 Increased capital to 532,273,800,000 KRW from 13,000,000,000 KRW

04/2003 Acquired ME(Car Audio) & MEMS(Electronic Machinery System) from  DAEWOO ELECTRONICS CO., LTD.

08/08/2008 Moved to 340, Samil-daero, Jung-gu, Seoul, Korea from Credit Center Bldg., 686, Ahyeon 3-dong, Mapo-gu, Seoul, Korea

05/08/2009 Decide to sell Vacuum Business to ACE ELECTRONIC CO., LTD.

05/15/2009 Decide to sell Air Conditioner Business to KITURAMI BOILER CO., LTD.(110111-0838148)

05/15/2009 Decide to sell Motor Business to HANAM ELECTRICS CO., LTD.(200111-0098305)

06/01/2009 Decide to sell Showcase Business to PREMIERE CO., LTD.

06/11/2009 Decide to sell Video Business to DAEWOO DISPLAY CORPORATION(110111-4024967) at 6,455,000,000 KRW and sold as of 07/07/2009

11/12/2009 Decide to prolong Work Out Program Agreed Period until 03/31/2011

01/31/2011 Decide to prolong Work Out Program Agreed Period until 03/31/2012

03/25/2011 Decreased capital to 2,661,365,000 KRW from 532,273,800,000 KRW

03/30/2011 Changed the financial closing date to May 31 from December 31.

12/12/2011 Decide to prolong Work Out Program Agreed Period until 03/31/2013

08/30/2012 Changed the financial closing date to December 31 from May 31

02/14/2013 Increased the authorized shares to 400,000,000 shares from 200,000,000 shares

02/15/2013 Increased capital to 554,812,110,000 KRW from 2,661,365,000 KRW

03/29/2013 Changed company name to the present name

02/28/2014 Moved to the present HQ address from 14th Fl., Narakium Jeodong Bldg., 1-2, Jeodong 1-ga, Jung-gu, Korea (New Address System : 340, Samil-daero, Jung-gu, Seoul, Korea)

06/30/2014 Decreased capital to 167,264,155,000 KRW from 554,812,110,000 KRW

 

 

 

 

Detailed Information

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

Chairman & CEO

Mr.

Kim Joon-Ki

Male

Korean

02/14/2013

President & CEO

Mr.

Choi Jin-Kyun

Male

Korean

05/29/2014

Director & CFO

Mr.

Lee Jae-Kook

Male

Korean

02/14/2013

Director / Auditor

Mr.

Koo Kyo-Hyoung

Male

Korean

02/14/2013

Outside Director / Auditor

Mr.

Song Jung-Hoon

Male

Korean

02/14/2013

Outside Director / Auditor

Mr.

Yoon Yoo-Sik

Male

Korean

02/14/2013

Outside Director / Auditor

Mr.

Park Ji-Yoon

Male

Korean

10/31/2013

Outside Director / Auditor

Mr.

Yang Jung-Bae

Male

Korean

10/31/2013

Outside Director / Auditor

Mr.

Kim Kyo-Sik

Male

Korean

03/28/2014

Outside Director / Auditor

Mr.

Park Doo-Soon

Male

Korean

05/29/2014

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

12/2013

1,168,751,131,113

593,755,910,055

610,952,517

12/2012

797,434,747,626

732,180,892,663

-131,254,321,108

05/2012

1,330,576,279,733

866,417,640,135

-31,993,212,103

05/2011

525,035,348,696

873,273,420,651

201,122,259

12/2010

1,282,919,492,849

888,938,997,647

-63,342,198,990

12/2009

1,127,178,673,967

1,007,941,510,519

-191,443,523,352

12/2008

1,192,033,170,665

1,298,369,908,608

-44,068,738,113

12/2007

1,771,476,159,339

1,301,230,996,817

-122,890,092,134

12/2006

1,960,134,451,865

1,428,196,580,663

-188,617,921,743

12/2005

2,157,396,945,139

1,654,907,205,990

-93,960,083,289

12/2004

2,306,128,323,453

1,712,875,059,119

30,407,951,871

12/2003

2,071,529,101,628

1,689,971,550,031

75,006,893,692

 

 

Financial Description

 

Authorized Capital(KRW)

2,000,000,000,000

Paid-Up Capital(KRW)

167,264,155,000

Total Issues Shares

33,452,831(Common: 16,934,693 / Preferable : 16,518,138)

 

Balance Sheet

Unit : Korean Won

01/01/2013~12/31/2013

06/01/2012~12/31/2012

06/01/2011~05/31/2012

Total Assets

593,755,910,055

732,180,892,663

866,417,640,135

Current Assets

189,230,992,122

326,732,522,029

426,218,596,939

-Quick Assets

152,850,059,476

292,980,621,251

391,506,986,468

-Inventories

36,380,932,646

33,751,900,778

34,711,610,471

Fixed Assets

404,524,917,933

405,448,370,634

440,199,043,196

-Investment

210,227,264,115

129,907,579,383

158,728,453,088

-Tangibles

184,255,842,090

267,436,390,979

271,851,721,314

-Intangibles

4,245,415,264

3,181,222,376

2,490,761,859

-Others

5,796,396,464

4,923,177,896

7,128,106,935

Total Liabilities

432,132,960,009

1,112,576,717,208

1,103,414,525,580

Current Liabilities

294,801,089,030

446,516,340,794

438,325,315,379

Fixed Liabilities

137,331,870,979

666,060,376,414

665,089,210,201

Capital Stock

554,812,110,000

2,661,365,000

2,661,365,000

Profit Surplus

-380,323,206,522

-377,608,116,787

-240,246,030,709

Capital Adjustment

-12,865,953,432

-5,449,072,758

587,780,264

Total Equity

161,622,950,046

-380,395,824,545

-236,996,885,445

Liab. & Shareholder’s Equity

593,755,910,055

732,180,892,663

866,417,640,135

 

Current Liabilities

294,801,089,030

446,516,340,794

438,325,315,379

Trade Payables

204,174,601,597

265,323,410,950

281,098,825,447

Short-Term Borrowings

22,572,085,058

46,607,163,924

51,439,433,274

Current Portion of Long-Term Debts

4,000,000,000

-

 

Account Payables

41,329,473,365

63,475,423,150

55,501,127,165

Accrued Expenses

5,335,359,082

26,960,639,616

22,272,154,260

Advance Receipts

2,921,312,089

29,862,622,908

19,669,346,964

Withholdings

1,959,284,732

2,460,926,771

1,149,467,480

Guarantee Deposit Received

418,192,472

400,053,472

365,503,472

Provision for Sales Guarantee

12,074,232,549

11,426,100,003

6,811,587,317

Derivatives

16,548,086

-

17,870,000

Fixed Liabilities

137,331,870,979

666,060,376,414

665,089,210,201

Long-Term Borrowings

62,000,000,000

600,907,873,888

594,038,433,756

Long-Term Account Payables

1,452,546,803

-

 

Long-Term Account Payables-Foreign Currency

 

 

7,550,028,590

Provision for Severance & Retirement

73,419,324,176

64,692,502,526

76,348,038,443

Provisions for Contingent Loss

460,000,000

460,000,000

-

 

Income Statement

Unit : Korean Won

01/01/2013~12/31/2013

06/01/2012~12/31/2012

06/01/2011~05/31/2012

Sales

1,168,751,131,113

797,434,747,626

1,330,576,279,733

Cost of Sold Goods

997,337,631,097

673,210,134,011

1,131,271,434,981

Gross Profit

171,413,500,016

124,224,613,615

199,304,844,752

Selling & Admin. Expenses

170,617,958,206

124,217,653,493

191,659,383,122

Operating Income

795,541,810

6,960,122

7,645,461,630

Non-Operating Income

79,956,134,864

27,728,233,836

49,091,224,606

Non-Operating Expenses

80,140,724,157

158,989,515,066

88,729,898,339

Income Before Taxes

610,952,517

-131,254,321,108

-31,993,212,103

Income Taxes Expenses

-

-

-

Net Income

610,952,517

-131,254,321,108

-31,993,212,103

 

Cash Flows

Unit : Korean Won

01/01/2013~12/31/2013

06/01/2012~12/31/2012

06/01/2011~05/31/2012

Cash Flows from Operating

48,762,216,498

11,197,885,026

30,985,934,320

-Net Income

610,952,517

-131,254,321,108

-31,993,212,103

-Exp. without Cash Outflow

87,419,915,601

150,120,565,738

93,795,126,016

-Revenue without Cash Inflows

-51,259,654,543

-16,588,787,863

-24,513,409,346

-Changes in Asset/ & Liability

11,991,002,923

8,920,428,259

-6,302,570,247

Cash Flows from Investing

-81,466,593,809

-3,612,015,652

-24,242,987,540

-Cash Inflow from Investing

28,400,921,165

10,004,572,866

12,897,456,096

-Cash Outflows for Investing

-109,867,514,974

-13,616,588,518

-37,140,443,636

Cash Flows from Financing

39,580,302,125

-3,663,453,367

-4,265,800,648

-Cash Inflows from Financing

66,000,000,000

90,541,430,579

157,333,383,875

-Cash Outflows from Financing

-26,419,697,875

-94,204,883,946

-161,599,184,523

Increase/Decrease in Cash

6,875,924,814

3,922,416,007

2,477,146,132

Cash at the Beginning of Year

12,574,199,656

8,651,783,649

6,174,637,517

Cash at the End of Year

19,450,124,470

12,574,199,656

8,651,783,649

 

 

Products, Technologies, Services Description

 

Main Products & Services

Analog TV, Digital TV, Digital Video, Air Conditioner, Washing Machine, Home Appliances and other Industrial Electronics

Detailed Products Spec.

 

Technologies Acquired

 

 

 

Trade Partners & Competitors

 

Suppliers

 

Customers

As of 07/12/2002, according to the court’s decision, the subject signed the agreement for long-term sales trough Hi-Mart.

Competitors

SAMSUNG ELECTRONICS CO,.LTD.(130111-0006246)

LG ELECTRONICS INC.(110111-2487050)

 

 

Related Parties (Subsidiaries, Joint-Venture & Affiliates)

 

Affiliates

DONGBU STEEL CO., LTD.(110111-0393308)

DONGBU HITECK CO., LTD.(110111-0026206)

DONGBU FINE CHEMICALS CO., LTD.(110111-0026206)

DONGBU FINECELL CO., LTD.(110111-1504102)

TOMATO LSI INC.(110111-1801988)

SOLEX SEMICONCODUCTOR CO., LTD.(110111-3727611)

DONGBU METAL CO., LTD.(110111-3836678)

DONGBU CORPORATION(110111-0005002)

DONGBU ENGINEERING CO., LTD. (110111-0659536)

DONGBU PUSAN CONTAINER TERMINAL CO., LTD.(180111-0356013)

CENTRAL PIER OPERATION CO., LTD.(180111-0290237)

DONGBU GWANGYANG LOGISTICS CENTER CO., LTD.(204611-0025180)

DONGBU EXPRESS MARINE CO., LTD.(180111-0605866)

FINE-ADVANTAS AMC CORPORATION CO., LTD.(110111-3783811)

DONGBU COMPLEX LOGISTICS CO., LTD.(204611-0026203)

DAESUNG FREZING TRANSPORTATION CO., LTD.(115611-0011096)

DAESUNG TOTAL LOGISTICS SYSTEM CO., LTD.(115611-0038892)

DCT CO., LTD.(144711-0015786)

DONGBU GWANGYANG STEEL DISTRIBUTION CENTER CO., LTD.(204611-0027649)

BAIKSAN ITS CO., LTD.(110111-2585630)

DONGBU INSURANCE CO., LTD.(110111-0095285)

DONGBU AUTOMOBILE INSURANCE CLAIM ADJUSTMENT CO., LTD.(110111-0367402)

DONGBU SECURITIES CO., LTD.(110111-0339956)

DONGBU MUTUAL SAVING BANK (110111-0135627)

DONGBU ASSET MANAGEMENT CO., LTD. (110111-1363160)

DONGBU CNI CO., LTD.(110111-1054339)

GONGJU ENVIRONMENT CO., LTD.(161211-0011288)

DONGBU INCHEON PORT TERMINAL CO., LTD. (120111-0305327)

DONGBU LIFE INSURANCE CO., LTD.(110111-0623606)

DONGBU CAPITAL CORP. (110111-1220641)

DONGBU CO., LTD. (110111-0367212)

DONGBU WORLD INC.(110111-0628086)

Subsidiary

DONGBU DAEWOO ELECTRONICS(TIANJIN)CO., LTD.

DONGBU DAEWOO MICROWAVE OVEN (TIANJIN) CO., LTD.

 

DONGBU DAEWOO ELECTRONICS SERVICE CORP.(110111-1498777)

100.0% held by the subject company)

 

DONGBU DAEWOO ELECTRONICS AMERICA INC.

(100.0% held by the subject company)

 

DONGBU DAEWOO ELECTRONICS(TIANJIN)CO.LTD.

(100.0% held by the subject company)

 

DONGBU DAEWOO ELECTRONICS CHILE S.A

(100.0% held by the subject company)

 

DONGBU DAEWOO ELECTRONICS MEXICO S.A DE C.V

(100.0% held by the subject company)

 

DONGBU DAEWOO ELECTRONICS HOME APPLIANCE DE MEXICO, S.A DE C.V

(100.0% held by the subject company)

 

DONGBU DAEWOO ELECTRONICS JAPAN CO., LTD.

(100.0% held by the subject company)

 

DONGBU DAEWOO ELECTRONICS MIDDLE EAST FZE.

(100.0% held by the subject company)

 

DONGBU DAEWOO ELECTRONICS DEME FZCO.

(100.0% held by the subject company)

 

DONGBU DAEWOO ELECTRONICS IBERIA S.A.U

(100.0% held by the subject company)

 

DONGBU DAEWOO MICROWAVE OVEN (TIANJIN) CO., LTD.

(100.0% held by the subject company)

 

DAEWOO ELECTRONICS MANUFACTURING POLAND SP. Z O.O.

(100.0% held by the subject company)

 

DONGBU DAEWOO ELECTRONICS (PANAMA) S.A.

(100.0% held by the subject company)

 

DONGBU DAEWOO ELECTRONICS S.A.

(100.0% held by the subject company)

 

DONGBU DAEWOO ELECTRONICS U.K LTD.

(100.0% held by the subject company)

 

DAEWOO ELECTRONICS U.K. LTD.

 

DONGBU DAEWOO ELECTRONICS (M) SDN. BHD.

(51.0% held by the subject company)

 

DAEWOO ELECTRONICS EUROPE GMBH.

DAEWOO HANEL ELECTRONICS CO., LTD.

DEMDA, INC.

Cooperative Enterprise

-Insured Company

SAMSUNG FIRE & MARINE INSURANCE CO., LTD.(110111-0005078)

MERITZ FIRE & MARINE INSURANCE CO., LTD.(110111-0013328)

 

 

Sales by Region (Activity & Markets)

 

Sales/ Unit : KRW

12/2013

12/2012

05/2012

Export

831,308,442,280

582,997,589,304

998,460,889,926

Domestic

337,442,688,833

214,437,158,322

332,115,389,807

Total

1,168,751,131,113

797,434,747,626

1,330,576,279,733

 

 

Court Action

 

Case No.

Court

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

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

Cause

Amount (KRW)

Status

 

International Chamber of Commerce, ICC

Parson

The Subject Company

Claim for Compensation from Damages

USD98,081,000

Parson is supposed to pay USD98,081,000, but the subject filed the case to Seoul District Court for applying of cancellation on the arbitration decision by International Chamber of Commerce, ICC.

 

California North District Court

FUNAI Electronic Company, Ltd.

The Subject Company

Infringement of the patent on VCR's DECK

US$7,217,000

The Subject was defeated at 1st round.

 

Court In Germany

Grundig Multimedia B.V.

The Subject Company

Infringement of Patent Right

Euro250,000

Proceeding

 

 

Gemstar

The Subject Company

Infringement of Patent Right

US$1,700,000

Negotiating

There are 2 cases filed as Plaintiff(s)/ Creditor(s)/ Applicant(s) amounting 300,000,000 KRW, 9 cases filed as Defendant(s)/ Debtor(s)/ Respondent(s) amounting 108,700,000,000 KRW as of 12/31/2012.

 

 

News Clipping

 

Not Available

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.10

UK Pound

1

Rs.102.04

Euro

1

Rs.80.74

                

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

SDA

               

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.