|
Report Date : |
27.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
DUGWOO CO., LTD. |
|
|
|
|
Registered Office : |
622-1, Nongso-ri, Juchon-myeon, Gimhae-si, Gyeongsangnam-do, Korea,
621-842 |
|
|
|
|
Country : |
Korea (South) |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
10.10.1996 |
|
|
|
|
Com. Reg. No.: |
606-81-62671 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Forging of Metal |
|
|
|
|
No. of Employees |
36 |
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 |
DUGWOO CO., LTD. (Korean Company
Name : “(주)덕우”) |
|
Registered Address |
622-1, Nongso-ri, Juchon-myeon, Gimhae-si,
Gyeongsangnam-do, Korea |
|
Zip Code |
621-842 |
|
Tel |
+82-55-723-2225 |
|
Fax |
+82-55-322-3855 |
|
E-mail |
sales@dugwoo.com;dugwoo@korea.com |
|
Website |
www.dugwoo.com |
|
Trading Address |
8,
Golden root-ro 130beon-gil, Juchon-myeon, Gimhae-si, Gyeongsangnam-do, Korea (Old
Address System : 622-1, Nongso-ri, Juchon-myeon, Gimhae-si, Gyeongsangnam-do,
Korea) |
|
Tel |
+82-55-723-2225 |
|
Fax |
+82-55-322-3855 |
|
Other Address-Noksan Factory |
110-1, Noksan-dong, Gangseo-gu, Busan,, Korea |
|
Tel |
+82-51-832-1480 |
|
Fax |
+82-51-832-1488 |
|
Type |
Export |
|
Industry |
Forging of Metal |
|
Main Business |
Flange, Forging Flange, Girth Flange, Tubesheet, Nozzle, Forged
Fitting |
|
Established (mm/dd/yyyy) |
10/10/1996 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Pipe flanges(40142400) |
|
Sell |
Pipe fittings(40142300) |
CEO’s
|
Name |
Yang Ki-Sung |
|
Address |
Suite 207-804, 10-4, Jurye-dong, Sasang-gu, Busan, Korea |
|
Date of Birth |
12/03/1960 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
140,000,000 |
|||||||||||||||||||||
|
Employees |
36 |
|||||||||||||||||||||
|
Formation |
Co., Ltd by Shares |
|||||||||||||||||||||
|
Bank Details |
Industrial Bank of Korea-Noksan Branch Kyungnam Bank |
|||||||||||||||||||||
|
Corporate Registered No. |
180111-0215863 |
|||||||||||||||||||||
|
Business Registered No. |
606-81-62671 |
|||||||||||||||||||||
|
Permit & Licenses |
07/2010 ISO 9001 Int’l Trade No.: 12083099 |
|||||||||||||||||||||
|
Shareholder Position |
|
|||||||||||||||||||||
|
Company History |
10/10/1996 Incorporated as DUGWOO MULSAN
CO., LTD. 08/05/2004 Moved to the present HQ address
from 123-8, Gamjeon-dong, Sasang-gu, Busan, Korea 08/06/2004 Increased capital to 140,000,000
KRW from 70,000,000 KRW 06/25/2008 Changed company name to the
present name 11/2008 Awarded US$ 5 Million Export Top
Prize 01/10/2013 Moved to the present HQ address
from 1480-10,
Songjeong-dong, Gangseo-gu, Busan, Korea |
|||||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Yang Ki-Sung |
Male |
Korean |
01/04/1999 |
|
Director |
M/S. |
Lee Mi-Sook |
Female |
Korean |
03/30/2002 |
|
Auditor |
Mr. |
Lee Sang-Cheol |
Male |
Korean |
03/30/2008 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
14,722,729,015 |
16,346,341,334 |
-218,480,918 |
|
|
2012 |
15,123,314,745 |
18,522,124,472 |
594,573,991 |
|
2011 |
|
|
|
|
2010 |
|
|
|
|
2009 |
7,509,000,000 |
4,784,000,000 |
1,199,000,000 |
|
2008 |
9,299,000,000 |
5,967,000,000 |
1,095,000,000 |
Financial
Description
|
Authorized Capital(KRW) |
200,000,000 |
|
Paid-Up Capital(KRW) |
140,000,000 |
|
Total Issued Shares |
14,000 |
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Total Assets |
16,346,341,334 |
18,522,124,472 |
|
|
Current Assets |
4,610,716,292 |
6,239,428,648 |
|
|
-Quick Assets |
3,516,282,924 |
4,134,252,640 |
|
|
-Inventories |
1,094,433,368 |
2,105,176,008 |
|
|
Fixed Assets |
11,735,625,042 |
12,282,695,824 |
|
|
-Investment |
305,474,309 |
266,613,388 |
|
|
-Tangibles |
11,411,662,733 |
11,997,594,436 |
|
|
-Intangibles |
18,488,000 |
18,488,000 |
|
|
Total Liabilities |
11,609,058,178 |
13,565,324,074 |
|
|
Current Liabilities |
9,709,058,178 |
11,865,324,074 |
|
|
Fixed Liabilities |
1,900,000,000 |
1,700,000,000 |
|
|
Capital Stock |
140,000,000 |
140,000,000 |
|
|
Capital Surplus |
|
|
|
|
Profit Surplus |
4,597,283,156 |
4,815,764,074 |
|
|
Capital Adjustment |
|
1,036,324 |
|
|
Total Equity |
4,737,283,156 |
4,956,800,398 |
|
|
Liab. & Shareholder’s Equity |
16,346,341,334 |
18,522,124,472 |
|
|
Current
Liabilities |
9,709,058,178 |
11,865,324,074 |
|
|
Trade Payables |
3,856,703,280 |
4,889,554,886 |
|
|
Account Payables |
302,678,605 |
1,024,230,976 |
|
|
Accrued Expenses |
167,718,772 |
211,829,809 |
|
|
Withholdings |
19,747,380 |
22,691,326 |
|
|
Advance Receipts |
141,657,063 |
130,989,027 |
|
|
Short-Term Borrowings |
5,220,553,078 |
5,586,028,050 |
|
|
Fixed
Liabilities |
1,900,000,000 |
1,700,000,000 |
|
|
Long-Term Borrowings |
1,900,000,000 |
1,700,000,000 |
|
|
Provision for Severance &
Retirement |
179,576,381 |
76,846,412 |
|
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Sales |
14,722,729,015 |
15,123,314,745 |
|
|
Cost of Sold Goods |
13,272,890,618 |
11,993,288,175 |
|
|
Gross Profit |
1,449,838,397 |
3,130,026,570 |
|
|
Selling & Admin. Expenses |
1,659,492,084 |
2,261,545,522 |
|
|
Operating Income |
-209,653,687 |
868,481,048 |
|
|
Non-Operating Income |
539,951,903 |
320,403,601 |
|
|
Non-Operating Expenses |
548,779,134 |
480,304,828 |
|
|
Income Before Taxes |
-218,480,918 |
708,579,821 |
|
|
Income Taxes Expenses |
- |
114,005,830 |
|
|
Net Income |
-218,480,918 |
594,573,991 |
|
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Cash Flows from Operating |
353,731,041 |
880,529,191 |
|
|
-Net Income |
-218,480,918 |
594,573,991 |
|
|
-Exp. without Cash Outflow |
1,375,799,482 |
794,543,075 |
|
|
-Revenue without Cash Inflows |
-5,573,902 |
-220,491,838 |
|
|
-Changes in Asset/ & Liability |
-798,013,621 |
-288,096,037 |
|
|
Cash Flows from Investing |
-616,608,444 |
-6,622,308,213 |
|
|
-Cash Inflow from Investing |
384,929,474 |
2,282,042,400 |
|
|
-Cash Outflows for Investing |
-1,001,537,918 |
-8,904,350,613 |
|
|
Cash Flows from Financing |
-165,474,972 |
6,273,888,050 |
|
|
-Cash Inflows from Financing |
1,034,525,028 |
6,298,000,000 |
|
|
-Cash Outflows from Financing |
-1,200,000,000 |
-24,111,950 |
|
|
Increase/Decrease in Cash |
-428,352,375 |
532,109,028 |
|
|
Cash at the Beginning of Year |
1,088,442,104 |
556,333,076 |
|
|
Cash at the End of Year |
660,089,729 |
1,088,442,104 |
|
|
Main Products & Services |
Flange, Forging Flange, Girth Flange, Tubesheet, Nozzle, Forged
Fitting |
|
Competitors |
METAL KOREA CO., LTD. 801, JINYEONG-RI, JINYEONG-EUP, GIMHAE-SI,
GYEONGSANGNAM-DO, KOREA TEL:+82-51-919-6954 FAX:+82-51-919-6957 HAN SHIN METAL CO. 651-58, EOMGUNG-DONG, SASANG-GU, BUSAN,
KOREA TEL:+82-51-305-2240 FAX:+82-51-305-2243 HANDOK METAL CO. 416-1, SINPYEONG 2-DONG, SAHA-GU, BUSAN,
KOREA TEL:+82-51-206-1968 FAX:+82-51-202-0030 |
|
Overseas Office |
DUGWOO(M) SDN BHD LOT 9008, JALAN BESAR, 23100 PAKA, DUNGUN,
TERENGGANU DARUL IMAN, MALAYSIA TEL:09-828-6060 FAX:09-828-6061 |
The Subject exports
to Malaysia.
Not Available.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.58 |
|
|
1 |
Rs.98.66 |
|
Euro |
1 |
Rs.79.81 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
PDT |
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.