|
Report Date : |
02.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
DANSUK INDUSTRIAL CO., LTD. |
|
|
|
|
Registered Office : |
165, Hyeomnyeok-ro, Siheung-si, Gyeonggi-do, Korea |
|
|
|
|
Country : |
Korea (South) |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
06.08.1984 |
|
|
|
|
Com. Reg. No.: |
133-81-22642 |
|
|
|
|
Legal Form : |
Co., Ltd by shares, Venture Business |
|
|
|
|
Line of Business : |
Manufacture of Inorganic
Pigments and Other Metal Oxides |
|
|
|
|
No. of Employees : |
226 |
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) |
|
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 |
DANSUK INDUSTRIAL CO., LTD. |
|
Registered Address |
165, Hyeomnyeok-ro, Siheung-si,
Gyeonggi-do, Korea |
|
Building |
1Da-705, Sihwa Industrial Complex |
|
Zip Code |
429-913 |
|
Tel |
+82-31-488-0700 |
|
Fax |
+82-31-499-3909 |
|
E-mail |
d5101@dansuk.co.kr |
|
Website |
www.dansuk.co.kr |
|
Trading Address |
1Da-705, Sihwa Industrial
Complex , 165, Hyeomnyeok-ro, Siheung-si, Gyeonggi-do, Korea (Old Address System : 1Da-705,
Sihwa Industrial Complex , 1239-5, Jeongwang 3-dong, Siheung-si, Gyeonggi-do,
Korea) |
|
Tel |
+82-31-488-0700 |
|
Fax |
+82-31-499-3909 |
|
Other Address-Gumi Factory |
623-16, Bongsan-ri,
Sandong-myeon, Gumi-si, Gyeongbuk, Korea |
|
Tel |
+82-54-475-0116~7 |
|
Fax |
+82-54-475-0118 |
|
Other Address-Yeongdeok
Factory |
45, Hwacheon-ri,
Yeongdeok-eup, Yeongdeok-gun, Gyeongsangbuk-do, Korea |
|
Tel |
+82-54-734-1621 |
|
Fax |
+82-54-734-1622 |
|
Other Address-Gas Station |
165-1, Gojan-dong, Danwon-gu,
Ansan-si, Gyeonggi-do, Korea |
|
Other Address-Gunsan Branch |
10, Seohae-ro, Gunsan-si,
Jeollabuk-do, Korea (Old Address System : 1582-13,
Soryong-dong, Gunsan-si, Jeonbuk, Korea) |
|
Type |
Export/Import |
|
Industry |
Manufacture of Inorganic
Pigments and Other Metal Oxides |
|
Main Business |
PVC Stabilizer, Lead Compound,
Fatty Acid |
|
Established (mm/dd/yyyy) |
08/06/1984 |
The Subject Company occupies the premises of
registered HQ address by leasing base.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Lead(11101714) |
|
Sell |
Biochemicals(12352200) |
|
Sell |
Additives(12160000) |
|
Sell |
Organic halogenated compounds(12352101) |
|
Sell |
High Grade Lead Silicate |
|
Sell |
Dibasic Lead Phosphite |
|
Sell |
Tribasic Lead Sulphate(TLS) |
CEO’s
|
Name |
Han Seung-Wook |
|
Address |
Suite B-1705, 15, Seochojungang-ro,
Seocho-gu, Seoul, Korea |
|
Date of Birth |
10/20/1958 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
4,200,000,000 |
|||||||||||||||||||||
|
Employees |
226 |
|||||||||||||||||||||
|
Formation |
Co., Ltd by shares, Venture Business |
|||||||||||||||||||||
|
Bank Details |
Kookmin Bank-Shihwa Corporate Finance
Branch Gyungnam Bank Woori Bank |
|||||||||||||||||||||
|
Corporate Registered No. |
134111-0010839 |
|||||||||||||||||||||
|
Business Registered No. |
133-81-22642 |
|||||||||||||||||||||
|
Permit & Licenses |
1984 KS Mark 1997 ISO9002 01/02/2003 ISO 9001 01/02/2003 ISO 14001 Int’l Trade No.: 932965 |
|||||||||||||||||||||
|
Shareholder Position |
|
|||||||||||||||||||||
|
Company History |
1965 Established Nobel Chemical Industry
Co. 07/01/1984 Incorporated as Nobel Chemical
Industry Co., Ltd. 1989 Changed the company name to the
present name 2001 Designated as a Venture Business 2005 Designated as a Venture Business again 06/19/2006 Spin off par value to 1,000 KRW from 10,000 KRW 06/19/2006 Increased the authorized shares to 30,000,000 shares from
2,000,000 shares 12/30/2007 Designated as a Venture Business again 12/30/2008 Designated as a Venture Business again 10/20/2009 Decreased capital to 4,200,000,000 KRW from 5,000,000,000
KRW |
|||||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Han Seung-Wook |
Male |
Korean |
07/16/2012 |
|
Director |
Mr. |
Han Gu-Jae |
Male |
Korean |
04/01/2001 |
|
Director |
Mr. |
Han Dong-Soo |
Male |
Korean |
02/25/2009 |
|
Auditor |
M/S. |
Lee Zeung-Nyeo |
Female |
Korean |
08/09/2010 |
|
Supervisor of HQ Office |
Mr. |
Lee Chang-Sool |
Male |
Korean |
10/16/2012 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
407,288,077,199 |
223,956,258,346 |
1,526,390,848 |
|
|
2012 |
365,644,609,095 |
229,022,318,855 |
-1,013,915,186 |
|
2011 |
285,073,304,694 |
195,174,285,043 |
2,620,368,144 |
|
2010 |
203,005,997,899 |
176,622,901,947 |
6,061,570,747 |
|
2009 |
166,338,001,630 |
152,975,541,485 |
9,639,314,281 |
|
2008 |
133,781,456,158 |
123,438,430,300 |
-5,394,487,951 |
|
2007 |
122,276,557,075 |
104,694,310,575 |
2,326,876,329 |
|
2006 |
95,304,139,044 |
77,607,490,442 |
2,027,901,506 |
|
2005 |
90,896,057,975 |
64,043,506,423 |
4,145,298,085 |
|
2004 |
94,342,392,331 |
58,739,778,094 |
2,327,130,591 |
Financial
Description
|
Authorized Capital(KRW) |
30,000,000,000 |
|
Paid-Up Capital(KRW) |
4,200,000,000 |
|
Total Issues Shares |
4,200,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Total Assets |
223,956,258,346 |
229,022,318,855 |
195,174,285,043 |
|
Current Assets |
79,958,744,101 |
86,363,242,490 |
68,372,003,835 |
|
-Quick Assets |
36,033,176,050 |
44,160,620,843 |
37,312,022,152 |
|
-Inventories |
43,925,568,051 |
42,202,621,647 |
31,059,981,683 |
|
Fixed Assets |
143,997,514,245 |
142,659,076,365 |
126,802,281,208 |
|
-Investment |
15,018,106,163 |
13,299,420,300 |
12,023,093,670 |
|
-Tangibles |
125,695,072,806 |
126,080,053,433 |
111,691,156,086 |
|
-Intangibles |
1,265,354,446 |
1,415,773,602 |
1,435,163,391 |
|
-Others |
2,018,980,830 |
1,863,829,030 |
1,652,868,061 |
|
Total Liabilities |
162,521,052,522 |
168,445,339,218 |
133,714,813,367 |
|
Current Liabilities |
129,037,972,262 |
137,527,539,277 |
96,353,641,765 |
|
Fixed Liabilities |
33,483,080,260 |
30,917,799,941 |
37,361,171,602 |
|
Capital Stock |
4,200,000,000 |
4,200,000,000 |
4,200,000,000 |
|
Capital Surplus |
4,305 |
4,305 |
4,305 |
|
Profit Surplus |
36,373,817,197 |
34,847,426,349 |
35,962,531,395 |
|
Capital Adjustment |
20,861,384,322 |
21,529,548,983 |
21,296,935,976 |
|
Total Equity |
61,435,205,824 |
60,576,979,637 |
61,459,471,676 |
|
Liab. & Shareholder’s Equity |
223,956,258,346 |
229,022,318,855 |
195,174,285,043 |
|
Current Liabilities |
129,037,972,262 |
137,527,539,277 |
96,353,641,765 |
|
Trade Payables |
11,915,302,760 |
13,705,283,973 |
9,678,141,812 |
|
Short-Term Borrowings |
101,910,688,451 |
92,789,134,806 |
73,049,192,215 |
|
Current Portion of Long-Term Debts |
6,664,190,000 |
10,616,640,000 |
4,468,500,000 |
|
Current Portion of Debenture |
- |
10,000,000,000 |
- |
|
Account Payables |
6,300,230,156 |
8,748,843,252 |
7,373,855,266 |
|
Accrued Expenses |
1,916,784,572 |
1,541,812,272 |
1,361,804,570 |
|
Advance Receipts |
31,784,752 |
70,974,511 |
65,887,721 |
|
Withholdings |
30,363,967 |
29,825,833 |
19,606,633 |
|
VAT Withhold |
26,500,000 |
27,000,000 |
22,000,000 |
|
Leasehold Deposit Received |
120,000,000 |
- |
|
|
Accrued Income Tax |
122,127,604 |
- |
314,653,548 |
|
Fixed Liabilities |
33,483,080,260 |
30,917,799,941 |
37,361,171,602 |
|
Long-Term Borrowings |
17,977,270,000 |
23,682,460,000 |
20,866,500,000 |
|
Debentures |
9,000,000,000 |
- |
10,000,000,000 |
|
Long-Term Account Payables |
|
|
150,000,000 |
|
Leasehold Deposit Received |
156,000,000 |
280,000,000 |
280,000,000 |
|
Provision for Severance & Retirement |
3,710,050,380 |
3,717,456,499 |
3,253,340,650 |
|
Deferred Income Tax Credit |
5,454,944,905 |
5,820,578,748 |
5,178,409,211 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Sales |
407,288,077,199 |
365,644,609,095 |
285,073,304,694 |
|
Cost of Sold Goods |
386,207,471,741 |
351,749,564,876 |
264,458,684,895 |
|
Gross Profit |
21,080,605,458 |
13,895,044,219 |
20,614,619,799 |
|
Selling & Admin. Expenses |
13,356,033,899 |
13,665,210,318 |
12,353,042,232 |
|
Operating Income |
7,724,571,559 |
229,833,901 |
8,261,577,567 |
|
Non-Operating Income |
6,038,001,184 |
7,745,727,445 |
4,797,168,973 |
|
Non-Operating Expenses |
12,239,031,636 |
10,643,296,112 |
10,382,084,475 |
|
Income Before Taxes |
1,523,541,107 |
-2,667,734,766 |
2,676,662,065 |
|
Income Taxes Expenses |
-2,849,741 |
-1,653,819,580 |
56,293,921 |
|
Net Income |
1,526,390,848 |
-1,013,915,186 |
2,620,368,144 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Cash Flows from Operating |
12,793,209,440 |
-5,861,622,641 |
7,097,452,306 |
|
-Net Income |
1,526,390,848 |
-1,013,915,186 |
2,620,368,144 |
|
-Exp. without Cash Outflow |
10,218,728,518 |
9,497,698,102 |
9,190,156,022 |
|
-Revenue without Cash Inflows |
-2,045,580,405 |
-1,495,288,474 |
-387,111,690 |
|
-Changes in Asset/ & Liability |
3,093,670,479 |
-12,850,117,083 |
-4,325,960,170 |
|
Cash Flows from Investing |
-10,354,018,858 |
-23,219,047,372 |
-18,194,347,842 |
|
-Cash Inflow from Investing |
18,079,879,231 |
1,658,532,903 |
1,728,276,352 |
|
-Cash Outflows for Investing |
-28,433,898,089 |
-24,877,580,275 |
-19,922,624,194 |
|
Cash Flows from Financing |
-1,037,161,727 |
28,780,658,453 |
11,065,065,712 |
|
-Cash Inflows from Financing |
19,789,478,273 |
33,272,981,453 |
17,723,871,506 |
|
-Cash Outflows from Financing |
-20,826,640,000 |
-4,492,323,000 |
-6,658,805,794 |
|
Increase/Decrease in Cash |
1,402,028,855 |
-300,011,560 |
31,829,824 |
|
Cash at the Beginning of Year |
750,255,593 |
1,050,267,153 |
1,082,096,977 |
|
Cash at the End of Year |
2,152,284,448 |
750,255,593 |
1,050,267,153 |
Products,
Technologies, Services Description
|
Main Products & Services |
PVC Stabilizer, Lead Compound, Fatty Acid |
Trade Partners
& Competitors
|
Competitors |
SONGWON INDUSTRIAL CO., LTD. 737-2, YEOCHEON-DONG, NAM-GU, ULSAN, KOREA TEL:+82-52-273-9841 FAX:+82-52-272-3528 ADEKA KOREA CORP. 839, YONGAM-RI, BONGDONG-EUP, WANJU-GUN,
JEOLLABUK-DO, KOREA TEL:+82-63-262-7190 FAX:+82-63-262-7338 WORLDCHEM CORPORATION C-1910, DAELIM ACRO TOWN, 467-6, DOGOK
2-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-572-3987 FAX:+82-2-572-3981 |
Related Parties (Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
DS CHEMTECH CO., LTD.(KOREA) DS PARK CO.(KOREA) |
|
Overseas Office |
DANSUK FINE CHEMICAL CO., LTD(CHINA
FACTORY) (100.0% held by the subject company) YULMU INDUSTRIAL PARK 51, ZHUZHOU HIGH AND NEW TECHNOLOGY INDUSTRY
DEVELOPMENT ZONE, HUNAN, CHINA TEL:+86-73-3299-1688~9 FAX:+86-73-3299-1690 |
|
Subsidiary |
DONGYOON INDUSTRIAL CO.,
LTD.(110111-0942064) (60.0% held by the subject company) DANSUK FINE CHEMICAL CO., LTD(CHINA
FACTORY) (100.0% held by the subject company) YULMU INDUSTRIAL PARK 51, ZHUZHOU HIGH AND NEW TECHNOLOGY INDUSTRY
DEVELOPMENT ZONE, HUNAN, CHINA TEL:+86-73-3299-1688~9 FAX:+86-73-3299-1690 |
|
Cooperative Enterprise |
DS CHEM CO. TEL:+82-2-575-0922 FAX:+82-2-575-0704 1322, HIBRAND BLDG., 215 YANGJAE-DONG
SEOCHO-GU, SEOUL, KOREA DOORI INTER CHEM TEL:+82-2-2168-4343 FAX:+82-2-2168-4346 2206, HYUNDAI 41 TOWER, 917-9 MOK-DONG,
YANGCHEON-GU, SEOUL, KOREA YUNGBOO CHEMICAL TEL:+82-32-678-5578~9 FAX:+82-32-678-6929 178-2 DODANG-DONG, WONMI-GU, BUCHEON-SI,
GYEONGGI-DO, KOREA JD CHEMICAL CO. TEL:+82-10-3062-5507 FAX:+82-31-430-1913 1367-1 JEONGWANG-DONG, SIHEUNG-SI, GYEONGGI-DO, KOREA HWAGONG INDUSTRY TEL:+82-2-3472-4467 FAX:+82-2-472-4468 414, KOREA BUSINESS CENTER 1338-21
SEOCHO-DONG, SEOCHO-GU, SEOU,L KOREA JAEIN CHEMICAL INDUSTRY 613, LIFECOMBI-BUILDING, 61-4, YEOUIDO-DONG, YEONGDEUNGPO-GU, SEOUL,
KOREA TEL:+82-2-784-4833 FAX:+82-2-784-4835 DANSUK TRADE CO. TEL:+82-51-642-9808 FAX:+82-51-632-1226 1711 HANIL OFFICETEL, 815MUNHYUN-4DONG, NAM-GU, BUSAN, KOREA DAIN CHEMICAL CO. 554-12, BUKJEONG-DONG, YANGSAN-SI, GYEONGSANGNAM-DO, KOREA TEL:+82-55-364-9390 FAX:+82-55-364-9392 -Insured Company HANWHA NON-LIFE INSURANCE CO., LTD.(110111-0006456) |
Sales by Region
(Activity & Markets)
|
Sales/ Unit : KRW |
2011 |
2010 |
2009 |
|
Export |
72,291,316,523 |
51,202,778,786 |
46,110,813,529 |
|
Domestic |
212,510,694,929 |
151,484,506,750 |
119,744,224,337 |
|
Others |
271,293,242 |
318,712,363 |
482,963,764 |
|
Total |
285,073,304,694 |
203,005,997,899 |
166,338,001,630 |
The subject deals with the companies in
China.
Not Available
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.34 |
|
|
1 |
Rs.101.45 |
|
Euro |
1 |
Rs.83.31 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.