|
Report Date : |
04.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
CHOSUN WELDING CO., LTD. |
|
|
|
|
Registered Office : |
34-13, Hwasan 2-gil, Onsan-eup, Ulju-gun, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
08.01.2010 |
|
|
|
|
Com. Reg. No.: |
610-86-00965 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Manufacture of other general- purpose machinery Such as Welding Rod, Welding Machines |
|
|
|
|
No. of Employees : |
115 |
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 : |
No complaints |
|
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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Source
: CIA |
Basic
|
Company Name |
CHOSUN WELDING CO.,
LTD. (Korean Company Name : “조선선재온산(주)”) |
|
Registered
Address |
34-13, Hwasan 2-gil, Onsan-eup, Ulju-gun, (Old Address System : 321, Hwasan-ri, Onsan-eup, Ulju-gun,
|
|
Building |
|
|
Zip Code |
689-896 |
|
Tel |
+82-52-231-3400 |
|
Fax |
+82-52-237-3311 |
|
E-mail |
csadmin@chosunwelding.com |
|
Website |
www.chosunwelding.com |
|
Trading Address |
90, Dangsandong 4-ga, Yeongdeungpo-gu, |
|
Tel |
+82-2-3459-9376 |
|
Fax |
+82-2-553-6116 |
|
Other Address |
|
|
Tel |
|
|
Fax |
|
|
Type |
Export/Import |
|
Industry |
Manufacture of Other General- Purpose Machinery n.e.c. |
|
Main Business |
Welding Rod, Welding Machines |
|
Sub Business |
|
|
Established
(mm/dd/yyyy) |
01/08/2010 |
Detailed Products
|
Activity |
Detailed
Products (UNSPSC) |
|
Sell |
Welders(23171508) |
|
Sell |
Welding rods(23171512) |
|
Sell |
Welding wire(23171510) |
CEO’s
|
Name |
Chang Won-Young |
|
Address |
|
|
Date of Birth |
08/26/1975 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
3,000,000,000 |
|||||||||
|
Employees |
115 |
|||||||||
|
Formation |
Co., Ltd by shares A Company of DONGKUK INDUSTRIES CO., LTD.(110111-0085583) |
|||||||||
|
Bank Details |
Citibank,
Korea-Ulsan Sales Dept. |
|||||||||
|
Corporate
Registered No. |
230111-0161677 |
|||||||||
|
Business
Registered No. |
610-86-00965 |
|||||||||
|
Permit &
Licenses |
Int’l Trade No.: 30663325 |
|||||||||
|
Shareholder
Position |
|
|||||||||
|
Company
History |
01/01/2010 Ex.
CHOSUN WELDING CO., LTD., has spin off into 3 companies as below; CS HOLDINGS CO., LTD.(110111-0008486 Existing company), the subject company, CHOSUN WELDING POHANG CO., LTD.(171711-1186312, Newly established company) which took welding materials business division, and CHOSUN WELDING ONSAN CO., LTD.(230111-0161677 Newly established company) which took FCW Welding material Business Division 01/08/2010
Incorporated as the present name |
|||||||||
|
|
|
Management
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
President & CEO |
Mr. |
Chang
Won-Young |
Male |
Korean |
01/08/2010 |
|
Director |
Mr. |
Cho Sung-Eun |
Male |
Korean |
06/30/2011 |
|
Director |
Mr. |
Chang
Joon-Young |
Male |
Korean |
09/09/2010 |
|
Director |
Mr. |
Seo Ok-Seok |
Male |
Korean |
03/21/2014 |
|
Auditor |
Mr. |
Jung Jae-Ho |
Male |
Korean |
03/22/2013 |
|
Year / Unit :
KRW |
Sales |
Assets |
Net Income |
|
81,152,270,618 |
102,208,884,354 |
3,075,815,660 |
|
|
2012 |
81,140,552,367 |
97,225,079,875 |
1,385,082,540 |
|
2011 |
86,527,250,956 |
98,685,455,451 |
4,603,832,892 |
|
2010 |
78,846,202,118 |
94,473,652,415 |
3,045,081,056 |
Financial Description
|
Authorized
Capital(KRW) |
10,000,000,000 |
|
Paid-Up
Capital(KRW) |
3,000,000,000 |
|
Total Issued
Shares |
600,000 |
|
Balance Sheet |
|||
|
Unit : Korean
Won |
As of
12/31/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Total
Assets |
102,208,884,354 |
97,225,079,875 |
98,685,455,451 |
|
Current
Assets |
35,460,659,767 |
30,603,015,045 |
30,696,165,532 |
|
Cash
& Cash Equivalents |
11,241,011,092 |
8,746,584,904 |
9,406,536,025 |
|
Trade
Receivables |
10,331,418,967 |
8,728,012,022 |
8,713,316,567 |
|
Other
Receivables |
238,453,222 |
739,960,399 |
1,580,051,891 |
|
Other
Current Assets |
300,125,199 |
19,627,830 |
30,975,972 |
|
Inventories |
13,349,651,287 |
12,158,154,364 |
10,965,285,077 |
|
Deferred
Income Tax Assets |
- |
210,675,526 |
- |
|
Non-Current
Assets |
66,748,224,587 |
66,622,064,830 |
67,989,289,919 |
|
Other
Receivables |
293,323,000 |
293,203,000 |
284,342,886 |
|
Non-Current
Financial Instruments |
676,880,000 |
564,824,000 |
478,781,000 |
|
Investment_Subsidiaries |
266,078,000 |
266,078,000 |
266,078,000 |
|
Tangibles |
57,114,818,717 |
57,425,017,071 |
58,817,309,088 |
|
Intangibles |
64,794,337 |
53,978,120 |
53,978,120 |
|
Investment_Real
Estates |
8,332,330,533 |
8,018,964,639 |
8,088,800,825 |
|
Total
Liabilities |
11,900,251,614 |
9,955,376,544 |
12,825,297,946 |
|
Current
Liabilities |
10,857,232,417 |
9,452,239,320 |
11,400,440,944 |
|
Trade
Payables |
7,831,585,207 |
7,543,897,508 |
8,366,934,877 |
|
Short-Term
Borrowings |
|
|
511,108,884 |
|
Other Payables |
2,535,417,891 |
1,853,398,937 |
1,643,883,626 |
|
Other
Current Liabilities |
85,662,238 |
54,942,875 |
175,961,658 |
|
Accrued
Income Tax |
404,567,081 |
- |
702,551,899 |
|
Non-Current
Liabilities |
1,043,019,197 |
503,137,224 |
1,424,857,002 |
|
Confirmed
Salaries |
753,577,815 |
261,605,425 |
1,045,704,292 |
|
Other Payables |
190,623,652 |
204,336,521 |
196,667,618 |
|
Deferred
Income Tax Credit |
98,817,730 |
37,195,278 |
182,485,092 |
|
Capital
Stock |
3,000,000,000 |
3,000,000,000 |
3,000,000,000 |
|
Capital
Surplus |
75,862,024,685 |
75,862,024,685 |
75,862,024,685 |
|
Others |
152,190,926 |
64,787,246 |
-2,326,294 |
|
Profit
Surplus |
11,294,417,129 |
8,342,891,400 |
7,000,459,114 |
|
Total
Equity |
90,308,632,740 |
87,269,703,331 |
85,860,157,505 |
|
Liab.
& Shareholder’s Equity |
102,208,884,354 |
97,225,079,875 |
98,685,455,451 |
|
Income Statement |
|||
|
Unit : Korean
Won |
As of
12/31/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Sales |
81,152,270,618 |
81,140,552,367 |
86,527,250,956 |
|
Cost
of Sold Goods |
69,459,901,886 |
72,153,282,240 |
75,719,808,495 |
|
Gross
Profit |
11,692,368,732 |
8,987,270,127 |
10,807,442,461 |
|
Selling
& Admin. Expenses |
6,417,646,470 |
6,271,976,560 |
5,793,619,825 |
|
Operating
Income |
5,274,722,262 |
2,715,293,567 |
5,013,822,636 |
|
Finance
Income |
1,114,542,149 |
424,298,418 |
996,355,210 |
|
Finance
Expenses |
2,611,414,612 |
1,499,864,732 |
435,229,265 |
|
Other
Income |
242,695,196 |
84,049,071 |
181,583,830 |
|
Other
Expenses |
273,750,111 |
356,685,968 |
109,655,556 |
|
Income
Before Taxes |
3,746,794,884 |
1,367,090,356 |
5,646,876,855 |
|
Income
Taxes Expenses |
670,979,224 |
-17,992,184 |
1,043,043,963 |
|
Net
Income |
3,075,815,660 |
1,385,082,540 |
4,603,832,892 |
|
Cash Flows |
|||
|
Unit : Korean
Won |
As of
12/31/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Operating
Activities Cash Flows |
3,903,778,711 |
-149,778,426 |
5,220,890,619 |
|
Cash
Flows from Operating |
3,828,515,331 |
824,319,145 |
5,664,336,750 |
|
Net
Income |
3,075,815,660 |
1,385,082,540 |
4,603,832,892 |
|
Adjustment |
2,587,267,844 |
2,176,571,091 |
2,519,263,876 |
|
Changes
in Asset/ & Liability |
-1,834,568,173 |
-2,737,334,486 |
-1,458,760,018 |
|
Interests
Received |
46,675,643 |
81,770,366 |
91,672,887 |
|
Interests
Paid |
-908,513 |
-8,442,981 |
-50,912,948 |
|
Dividends
Received |
13,206,600 |
- |
|
|
Income
Taxes |
16,289,650 |
-1,047,424,956 |
-484,206,070 |
|
Cash
Flows from Investing |
-1,409,352,523 |
936,189 |
-2,926,270,842 |
|
Cash Flows from Financing |
- |
-511,108,884 |
-10,574,413 |
|
Increase/Decrease in Cash |
2,494,426,188 |
-659,951,121 |
2,284,045,364 |
|
Cash at the Beginning of Year |
8,746,584,904 |
9,406,536,025 |
7,122,490,661 |
|
Cash at the End of Year |
11,241,011,092 |
8,746,584,904 |
9,406,536,025 |
Products,
Technologies, Services Description
|
Main Products
& Services |
Welding Rod, Welding Machines |
|
Detailed
Products Spec. |
|
|
Technologies
Acquired |
|
Trade Partners &
Competitors
|
Suppliers |
|
|
Customers |
|
|
Competitors |
KISWEL CO.,
LTD. 721-3,
HAKJANG-DONG, SASANG-GU, TEL:+82-51-317-3131~40 FAX:+82-51-325-3627 HYUNDAI
WELDING CO., LTD. 16TH FL., ILSONG
BLDG., 157-37, SAMSEONG 1-DONG, GANGNAM-GU, TEL:+82-2-6230-6010~2 FAX:+82-2-598-6928 CHEGIM WELDING
CO., LTD. 42-499,
IHYEON-DONG, SEO-GU, TEL:+82-53-250-0600 FAX:+82-53-256-8117 |
Related Parties (Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
CS HOLDINGS
CO., LTD.(110111-0008486) CHOSUN WELDING
POHANG CO., LTD.(171711-1186312) DONGKUK
INDUSTRIES CO., LTD.(110111-0085583) DONGKUK
R&S CO., LTD.( 195511-0069249) DONGYAN METAL
CO., LTD.( SEYOUNG
SYSTEME CO., LTD.(230111-0130838) DONGKUK
S&C(110111-2276784) DAEWON STEEL
CO., LTD.(120111-0123711) DONGKUK
REFRACTORIES CO., LTD.(195511-0069249) HANRYO ENERGY
DEVELOPMENT CO., LTD.(206211-0026796) SHINAN WIND
POWER CO., LTD.(201111-0023666) GO DEOK WIND
POWER CO., LTD.(161311-0017432) DONGYEON
S&T CO., LTD.(110111-3401059) CHUNGSEOK
DEVELOPMENT CO., LTD. DK AMERICA,
INC. KUMHWA METAL
CO., LTD. DK WIND POWER
CO., LTD.(234111-0045158) NAMWON WIND
POWER CO., LTD.(211311-0005428) DK DONGSHIN
CO., LTD.(110111-3850959) |
|
Affiliates-Overseas |
CHOSUN VINA
CO., LTD. CHOSUN WELDING
JAPAN CO., LTD. |
|
Overseas
Office |
|
|
Liaison Office |
|
|
Overseas
Branch |
|
|
Joint Venture |
|
|
Subsidiary |
CHOSUN WELDING
JAPAN CO., LTD. (100.0% held by
the subject company) |
|
Corporate
Ownership |
CS
HOLDINGS CO., LTD.(110111-0008486) |
|
Major
Shareholders |
CS
HOLDINGS CO., LTD.(110111-0008486) |
|
Cooperative |
-Insured
Company SAMSUNG FIRE & MARINE INSURANCE CO.,
LTD.(110111-0005078) |
Sales by Region
(Activity & Markets)
The Subject
deals with the companies in
Court Action
No.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.75 |
|
|
1 |
Rs.100.07 |
|
Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
|
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.