|
Report Date : |
07.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
DIGITAL GRAPHICS INCORPORATION |
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|
|
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Registered Office : |
48, Pyeonghwa-ro 1479beon-gil, Yangju-si, |
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Country : |
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|
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Financials (as on) : |
30.06.2014 |
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Date of Incorporation : |
28.11.1991 |
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Com. Reg. No.: |
127-81-18162 |
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Legal Form : |
Listed Company |
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Line of Business : |
Manufacture of Computer Printer, Cutting Plotter,
Inkjet Printer |
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|
|
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No of Employees : |
79 |
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 |
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Payment Behaviour : |
Slow but correct |
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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 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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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 |
|
Company
Name |
DIGITAL GRAPHICS
INCORPORATION (Trade Name :
DGI) (Korean Company
Name : “(주)디지아이”) |
|
Registered Address |
48, Pyeonghwa-ro 1479beon-gil, Yangju-si,
Gyeonggi-do, Korea (Old Address System : 517, Deokgye-dong,
Yangju-si, Gyeonggi-do, Korea) |
|
Building |
|
|
Zip Code |
482-050 |
|
Tel |
+82-31-820-8990 |
|
Fax |
+82-31-820-8990 |
|
E-mail |
sales@dgi-net.com |
|
Website |
www.dgi-net.com |
|
Trading Address |
52, Cheongdam-ro, Yangju-si, Gyeonggi-do,
Korea (Old Addr5ess System : 271-6, Go-eup-dong,
Yangju-si, Gyeonggi-do, Korea) |
|
Tel |
+82-31-820-8900 |
|
Fax |
+82-31-820-8990 |
|
Other Address |
3rd Fl., DGI Bldg., 692, Ssangmun-dong,
Dobong-gu, Seoul, Korea |
|
Tel |
|
|
Fax |
|
|
Type |
Export |
|
Industry |
Manufacture of Computer Printer |
|
Main Business |
Cutting Plotter, Inkjet Printer |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
11/28/1991 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Plotter printers(43212107) |
|
Name |
Choi Kwan-Soo |
|
Address |
|
|
Date of Birth |
10/15/1947 |
|
Title |
Chairman & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
4,500,000,000 |
|||||||||||||||||||||
|
Employees |
79 |
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Formation |
Listed Company(KOSDAQ : 043360) as of 07/20/2001 Venture Business |
|||||||||||||||||||||
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Bank Details |
Industrial Bank of Korea-Uijungbu Branch |
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Corporate Registered No. |
111511-0015359 |
|||||||||||||||||||||
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Business Registered No. |
127-81-18162 |
|||||||||||||||||||||
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Permit & Licenses |
01/2000 ISO 9001 01/14/2003 ISO 9001 08/2012 NET Mark Int’l Trade No.: 263012 |
|||||||||||||||||||||
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Shareholder Position |
|
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Company History |
01/1985 Established as ILLI CO.(Sole
Proprietorship) 11/28/1991 Incorporated as ILLI INC. 01/1999 Designated as a Venture Business 04/18/2000 Changed company name to the
present name 11/2002 Awarded US$10 Million Export Top
Prize 11/2004 Awarded US$20 Million Export Top
Prize 11/2007 Awarded US$30 Million Export Top
Prize 07/2009 Designated as an INNO-BIZ Company |
|||||||||||||||||||||
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Management
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
Chairman & CEO |
Mr. |
Choi Kwan-Soo |
Korean |
1947.10.15. |
Kyunghee University, Korea |
|
President & CEO |
Mr. |
Choi Dong-Ho |
Korean |
1978.06. |
Korea University, Korea |
|
Director |
Mr. |
Yoon Shin-Yong |
Korean |
1964.09.01. |
Dongkuk University, Korea |
|
Director |
Mr. |
Shin Dong-Hoon |
Korean |
1974.12.22. |
Inha University, Korea |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
(*)06/2014 |
14,012,956,131 |
56,485,177,087 |
1,262,195,427 |
|
(*)2013 |
24,543,545,785 |
56,859,808,365 |
-1,350,380,488 |
|
(*)2012 |
30,811,535,771 |
60,169,523,219 |
868,272,696 |
|
2011 |
26,955,616,443 |
58,848,623,733 |
154,391,321 |
|
2010 |
37,434,961,684 |
62,482,925,105 |
3,095,561,885 |
|
2009 |
40,648,439,402 |
58,527,617,715 |
3,154,181,915 |
|
2008 |
36,091,562,300 |
62,192,523,358 |
-668,615,295 |
|
2007 |
35,189,694,000 |
55,710,948,000 |
2,221,388,000 |
|
2006 |
38,118,178,000 |
53,400,245,000 |
2,884,679,000 |
|
2005 |
34,796,161,000 |
51,398,263,000 |
3,072,115,000 |
(*)Figures are based
on the K-IFRS Accounting System.
Financial Description
|
Authorized Capital(KRW) |
15,000,000,000 |
|
Paid-Up Capital(KRW) |
4,500,000,000 |
|
Total Issued Shares |
9,000,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
01/01/2014~06/30/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total
Assets |
56,485,177,087 |
56,859,808,365 |
60,169,523,219 |
|
Current Assets |
31,212,420,486 |
31,648,098,598 |
34,524,117,426 |
|
Cash
& Cash Equivalents |
334,187,071 |
1,063,890,940 |
1,045,672,251 |
|
Current
Financial Instruments |
17,650,000,000 |
18,400,000,000 |
19,800,000,000 |
|
Trade
Receivables & Other Receivables |
8,385,747,088 |
6,580,486,725 |
7,513,152,451 |
|
Inventories |
4,187,335,740 |
4,745,885,361 |
5,575,421,864 |
|
Deferred
Income Tax Assets |
33,939,210 |
102,095,150 |
114,931,130 |
|
Other
Current Assets |
621,211,377 |
755,740,422 |
474,939,730 |
|
Non-Current Assets |
25,272,756,601 |
25,211,709,767 |
25,645,405,793 |
|
Non-Current
Financial Instruments |
18,000,000 |
18,000,000 |
18,000,000 |
|
Long-Term
Trade Receivables & Other Receivables |
7,806,936,497 |
7,645,279,203 |
7,319,285,221 |
|
Investment_Subsidiaries |
20,000,000 |
0 |
0 |
|
Tangibles |
9,644,965,743 |
9,790,492,894 |
10,266,338,877 |
|
Investment_Real
Estates |
6,872,113,546 |
6,894,636,972 |
6,939,683,826 |
|
Intangibles |
735,499,691 |
776,043,030 |
1,102,097,869 |
|
Deferred
Income Tax Assets |
175,241,124 |
87,257,668 |
0 |
|
Total Liabilities |
4,912,404,186 |
6,104,397,441 |
7,618,898,357 |
|
Current Liabilities |
3,585,942,016 |
4,698,029,913 |
4,107,148,283 |
|
Trade
Payables & Other Payables |
2,264,859,885 |
2,739,976,691 |
2,586,049,231 |
|
Debentures |
601,025,864 |
824,005,088 |
1,316,328,067 |
|
Provision
for Sales Gurantee |
587,050,722 |
605,767,082 |
0 |
|
Other
Current Liabilities |
133,005,545 |
528,281,052 |
204,770,985 |
|
Non-Current Liabilities |
1,326,462,170 |
1,406,367,528 |
3,511,750,074 |
|
Long-Term
Trade Payables & Other Payables |
1,326,462,170 |
1,304,026,293 |
2,780,691,373 |
|
Provision
for Sales Gurantee |
0 |
102,341,235 |
650,682,667 |
|
Deferred
Income Tax Credit |
0 |
0 |
80,376,034 |
|
Capital Stock |
4,500,000,000 |
4,500,000,000 |
4,500,000,000 |
|
Capital
Surplus |
9,262,691,675 |
9,262,691,675 |
9,262,691,675 |
|
Profit
Surplus |
37,810,081,226 |
36,992,719,249 |
38,787,933,187 |
|
Total
Equity |
51,572,772,901 |
50,755,410,924 |
52,550,624,862 |
|
Liab.
& Shareholder’s Equity |
56,485,177,087 |
56,859,808,365 |
60,169,523,219 |
|
Income Statement |
|||
|
Unit : Korean Won |
01/01/2014~06/30/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
14,012,956,131 |
24,543,545,785 |
30,811,535,771 |
|
Cost
of Sold Goods |
10,120,228,609 |
18,902,790,151 |
22,631,430,163 |
|
Gross
Profit |
3,892,727,522 |
5,640,755,634 |
8,180,105,608 |
|
Selling
Expenses |
1,022,909,662 |
2,863,775,598 |
2,535,952,343 |
|
Admin.
Expenses |
1,059,903,732 |
2,255,975,439 |
2,878,629,206 |
|
R&D |
1,124,025,288 |
3,172,814,254 |
2,737,253,676 |
|
Operating
Income |
685,888,840 |
-2,651,809,657 |
28,270,383 |
|
Finance
Income |
438,092,275 |
957,709,078 |
1,124,065,838 |
|
Finance
Expenses |
25,492,915 |
101,653,390 |
125,447,293 |
|
Non-Operating
Income |
345,706,750 |
1,300,241,333 |
841,721,525 |
|
Non-Operating
Expenses |
269,982,979 |
1,022,501,554 |
1,121,081,015 |
|
Income
Before Taxes |
1,174,211,971 |
-1,518,014,190 |
747,529,438 |
|
Income
Taxes Expenses |
-87,983,456 |
-167,633,702 |
-120,743,258 |
|
Net
Income |
1,262,195,427 |
-1,350,380,488 |
868,272,696 |
|
Cash Flows |
|||
|
Unit : Korean Won |
01/01/2014~06/30/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Operating
Activities Cash Flows |
-708,554,376 |
-548,178,005 |
849,421,201 |
|
Cash Flows from Operating |
-1,011,372,434 |
-1,273,946,947 |
53,876,308 |
|
Interests Received |
243,116,433 |
729,523,042 |
820,962,770 |
|
Interests Paid |
-8,454,315 |
-16,590,080 |
-25,411,397 |
|
Income Taxes |
68,155,940 |
12,835,980 |
-6,480 |
|
Cash Flows from Investing |
638,102,982 |
1,495,535,588 |
-890,227,207 |
|
Cash Flows from Financing |
-659,252,475 |
-929,095,686 |
209,240,288 |
|
Increase/Decrease in Cash |
-729,703,869 |
18,261,897 |
168,434,282 |
|
Cash at the Beginning of Year |
1,063,890,940 |
1,045,672,251 |
877,539,054 |
|
Cash at the End of Year |
334,187,071 |
1,063,890,940 |
1,045,672,251 |
|
Main Products & Services |
Cutting Plotter, Inkjet Printer Brand Name : POLA-JET SERIES, XP SERIES, DURA-JET SERIES,
ORION-JET SERIES, OMEGA SERIES |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Subsidiary |
SAWNICS INC.(134111-0078407) (20.61% held by the subject company) DGI LIGHT CO., LTD.(280211-0129863) (66.67% held by the subject company) |
The Subject exports
to Iran and India.
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 : |
SMN |
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.