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Report No. : |
338071 |
|
Report Date : |
25.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
DONGSAN BEARING
CORPORATION |
|
|
|
|
Registered Office : |
35, Cheongneung-daero 339beon-gil,
Namdong-gu, Incheon, Korea, 21643, 71B-10L,
Namdong Industrial Complex |
|
|
|
|
Country : |
South
Korea |
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|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
02.01.2007 |
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|
|
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Com. Reg. No.: |
131-26-89202 |
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|
|
|
Legal Form : |
Sole Proprietorship |
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|
|
|
Line of Business : |
Manufacture of Ball and Roller Bearings |
|
|
|
|
No. of Employees : |
9 |
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, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 economic 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. A system of close government and
business ties, including directed credit and import restrictions, initially
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 7%
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 over 6%
growth in 2010. The US-Korea Free Trade Agreement was ratified by both
governments in 2011 and went into effect in March 2012. Between 2012 and 2014,
the economy experienced slow growth due to sluggish domestic consumption and
investment. The administration in 2015 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 the heavy reliance on exports, which comprise
about half of GDP. In an effort to address the long term challenges and sustain
economic growth, the current government has prioritized structural reforms,
deregulation, promotion of entrepreneurship and creative industries, and the
competitiveness of small and medium enterprises.
|
Source
: CIA |
|
Company Name |
DONGSAN BEARING
CORPORATION (Korean Company
Name : “동산정기”) |
|
Registered Address |
35, Cheongneung-daero 339beon-gil, Namdong-gu,
Incheon, Korea |
|
Building |
71B-10L, Namdong Industrial Complex |
|
Zip Code |
21643 |
|
Tel |
+82-32-821-2367 |
|
Fax |
+82-32-821-2369 |
|
E-mail |
ceo@dongsanbearing.com |
|
Website |
www.dongsanbearing.com |
|
Trading Address |
71B-10L, Namdong Industrial Complex, 35,
Cheongneung-daero 339beon-gil, Namdong-gu, Incheon, Korea (Old Address System : 71B-10L, Namdong
Industrial Complex, 640-9, Gojan-dong, Namdong-gu, Incheon, Korea) |
|
Tel |
+82-32-821-2367 |
|
Fax |
+82-32-821-2369 |
|
Other Address |
|
|
Tel |
|
|
Fax |
|
|
Type |
Export |
|
Industry |
Manufacture of Ball and Roller Bearings |
|
Main Business |
Bearing, Ball Cages |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
01/02/2007 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Bearings(31171500) |
|
Sell |
Ball bearings(31171504) |
|
Name |
Hong Eu-Taek (Mobile : +82-10-9129-2367) |
|
Address |
|
|
Date of Birth |
01/25/1967 |
|
Title |
Owner |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
Not Applicable to
the Sole Proprietorship |
|
Employees |
9 |
|
Formation |
Sole Proprietorship |
|
Bank Details |
Nonghyup Bank-Yeonsu Branch |
|
Corporate Registered No. |
Not Applicable to the Sole Proprietorship |
|
Business Registered No. |
131-26-89202 |
|
Permit & Licenses |
10/03/2010 ISO 9001 |
|
Shareholder Position |
The owner has 100% shares. |
|
Company History |
01/02/2007 Established as the present name 04/30/2009 Designated as a Venture Business |
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Owner |
Mr. |
Hong Eu-Taek |
Male |
Korean |
01/02/2007 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
|
|
|
|
|
2013 |
2,933,644,000 |
1,034,832,000 |
638,563,000 |
|
2012 |
2,386,295,000 |
1,006,181,000 |
292,724,000 |
|
2011 |
1,799,525,000 |
1,003,296,000 |
305,112,000 |
|
2010 |
|
|
|
|
2009 |
|
|
|
The latest financials
are not available, and the Subject Company does not have any obligations to
release its financials to the public.
|
Authorized Capital(KRW) |
Not Applicable to the Sole Proprietorship |
|
Paid-Up Capital(KRW) |
Not Applicable to the Sole Proprietorship |
|
Total Issued Shares |
Not Applicable to the Sole Proprietorship |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Total Assets |
1,034,832,000 |
1,006,181,000 |
1,003,296,000 |
|
Current Assets |
|
|
|
|
-Quick Assets |
|
|
|
|
-Inventories |
|
|
|
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Fixed Assets |
|
|
|
|
-Investment |
|
|
|
|
-Tangibles |
|
|
|
|
-Intangibles |
|
|
|
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Total Liabilities |
135,053,000 |
139,087,000 |
134,704,000 |
|
Current Liabilities |
|
|
|
|
Fixed Liabilities |
|
|
|
|
Capital Stock |
899,779,000 |
867,094,000 |
868,592,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
|
|
|
|
Capital Adjustment |
|
|
|
|
Total Equity |
899,779,000 |
867,094,000 |
868,592,000 |
|
Liab. & Shareholder’s Equity |
1,034,832,000 |
1,006,181,000 |
1,003,296,000 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Sales |
2,933,644,000 |
2,386,295,000 |
1,799,525,000 |
|
Cost of Sold Goods |
|
|
|
|
Gross Profit |
|
|
|
|
Selling & Admin. Expenses |
|
|
|
|
Operating Income |
627,477,000 |
289,622,000 |
304,471,000 |
|
Non-Operating Income |
|
|
|
|
Non-Operating Expenses |
|
|
|
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Income Before Taxes |
|
|
|
|
Income Taxes Expenses |
|
|
|
|
Net Income |
638,563,000 |
292,724,000 |
305,112,000 |
|
Main Products & Services |
Bearing, Ball Cages |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
|
|
Competitors |
DAEHWA PRECISION CO., LTD. 250-5, GUNSEO-RI, JIKSAN-EUP, SEOBUK-GU,
CHEONAN-SI, CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-588-5600 FAX:+82-41-588-5603 DONG HWA TECH CO., LTD. 3RA-117, SIHWA INDUSTRIAL COMPLEX, 1271-7,
JEONGWANG 1-DONG, SIHEUNG-SI, GYEONGGI-DO, KOREA TEL:+82-31-488-9601~4 FAX:+82-31-488-9605 SHILLA CORPORATION 163, SINPUNG-RI, SUSIN-MYEON, DONGNAM-GU,
CHEONAN-SI, CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-552-9800 FAX:+82-41-552-5468 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
DONGSAN KIUP CO.(KOREA: 130-18-65712) |
The Subject exports
to Australia and Germany.
Not Available.
-----
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.51 |
|
|
1 |
Rs.104.00 |
|
Euro |
1 |
Rs.76.27 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
|
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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.