|
Report No. : |
307028 |
|
Report Date : |
09.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
DONG-IL ALUMINIUM CO., LTD. |
|
|
|
|
Registered Office : |
160, Seonggeo-gil, Seonggeo-eup,
Seobuk-gu, Cheonan-si, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
25.04.1989 |
|
|
|
|
Com. Reg. No.: |
312-81-06487 |
|
|
|
|
Legal Form : |
Company Limited By Shares |
|
|
|
|
Line of Business : |
Manufacture of Smelting, Refining and Alloys of Aluminum |
|
|
|
|
No of Employees : |
286 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 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 |
DONG-IL ALUMINIUM CO., LTD. |
|
Registered Address |
160,
Seonggeo-gil, Seonggeo-eup, Seobuk-gu, Cheonan-si, Chungcheongnam-do, Korea (Old
Address System : 378-1, Cheonheung-ri, Seonggeo-eup, Cheonan-si,
Chungcheongnam-do, Korea) |
|
Building |
-- |
|
Zip Code |
330-836 |
|
Tel |
+82-41-559-2200 |
|
Fax |
+82-41-555-9600 |
|
E-mail |
|
|
Website |
|
|
|
|
|
Trading Address |
Jung-Hyun Bldg., 944-1, Daechi 3-dong, Gangnam-gu, Seoul, Korea |
|
Tel |
+82-2-2222-3342 |
|
Fax |
+82-2-555-9600 |
|
|
|
|
Other Address |
517,
Sincheon-ri, Hallim-myeon, Gimhae-si, Gyeongsangnam-do, Korea |
|
Tel |
+82-55-342-5503~4 |
|
Fax |
+82-55-342-5505 |
|
|
|
|
Type |
Export |
|
Industry |
Manufacture of Smelting, Refining and Alloys of Aluminum |
|
Main Business |
Aluminum Foil, Heat Exchanger |
|
|
|
|
Established (mm/dd/yyyy) |
04/25/1989 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Aluminum foil(30102006) |
|
Sell |
Heat exchangers(40101802) |
|
Sell |
Lining papers(14111616) |
|
Sell |
Aluminum(11101705) |
|
Name |
Hwang Ku-Yon |
|
Address |
Suite 221-501, 435, Olympic-ro, Songpa-gu,
Seoul, Korea |
|
Date of Birth |
06/12/1953 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
25,978,050,000 |
||||||||||||||||||
|
Employees |
286 |
||||||||||||||||||
|
Formation |
Co., Ltd by shares A Company of Dongil Group |
||||||||||||||||||
|
Bank Details |
Kookmin Bank-Head Office Shinhan Bank-Teheranro Branch |
||||||||||||||||||
|
Corporate Registered No. |
161511-0005350 |
||||||||||||||||||
|
Business Registered No. |
312-81-06487 |
||||||||||||||||||
|
Permit & Licenses |
01/15/1998 ISO 9001 04/12/2001 KS 04/12/2001 ISO 9001 Int’l Trade No.: 258340 |
||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||
|
Company History |
04/25/1989 Incorporated as the present
name 04/01/1990 Operate Cheonan Factory 04/01/1992 Launched into Aluminum Foil
Business 11/30/2000 Awarded US$30 Million Export
Top Prize 08/13/2004 Established India Corporation 10/28/2004 Established Kimhae Factory 11/30/2005 Awarded US$ 70 Million Export Top Prize 11/30/2007 Awarded US$ 100 Million Export Top Prize |
||||||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Hwang Ku-Yon |
Male |
Korean |
03/16/2007 |
|
Director |
Mr. |
Seo Min-Suck |
Male |
Korean |
03/15/2002 |
|
Director |
Mr. |
Park Chan-Kyu |
Male |
Korean |
03/18/2011 |
|
Director |
Mr. |
Jung Nak-Ho |
Male |
Korean |
03/16/2007 |
|
Director |
Mr. |
Byun Hong |
Male |
Korean |
03/29/2013 |
|
Auditor |
Mr. |
Jung Kyu-Young |
Male |
Korean |
03/29/2013 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
(*)2013 |
172,842,645,449 |
107,774,609,354 |
5,050,809,911 |
|
(*)2012 |
161,459,628,488 |
82,382,925,289 |
4,822,366,085 |
|
(*)2011 |
175,199,488,738 |
82,160,059,742 |
4,867,294,301 |
|
(*)2010 |
160,004,227,379 |
75,297,297,883 |
5,743,050,969 |
|
2009 |
141,421,391,160 |
58,819,250,347 |
5,184,281,705 |
|
2008 |
151,324,120,451 |
57,940,034,976 |
5,495,116,405 |
|
2007 |
144,796,082,860 |
56,364,009,526 |
2,383,590,979 |
|
2006 |
118,167,986,913 |
56,697,724,064 |
1,362,952,707 |
|
2005 |
106,317,078,934 |
58,176,928,250 |
(-)686,871,601 |
|
2004 |
113,181,018,751 |
64,352,717,636 |
3,687,522,633 |
|
2003 |
90,405,543,621 |
55,890,960,314 |
3,187,731,151 |
(*)Figures are based
on the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
30,000,000,000 |
|
Paid-Up Capital(KRW) |
25,978,050,000 |
|
Total Issues Shares |
5,195,610 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Total
Assets |
107,774,609,354 |
82,382,925,289 |
82,160,059,742 |
|
Current Assets |
39,538,203,588 |
38,096,723,161 |
41,980,845,421 |
|
Cash
& Cash Equivalents |
3,423,520,013 |
5,108,865,859 |
6,968,598,506 |
|
Current
Financial Instruments |
51,415,000 |
6,260,000 |
5,085,000 |
|
Trade
Receivables |
17,054,663,192 |
16,273,881,090 |
17,798,007,339 |
|
Other
Receivables |
2,551,022,125 |
1,187,961,355 |
1,328,950,188 |
|
Inventories |
16,401,392,106 |
15,367,671,081 |
15,824,413,656 |
|
Other
Current Assets |
56,191,152 |
152,083,776 |
55,790,732 |
|
Non-Current Assets |
68,236,405,766 |
44,286,202,128 |
40,179,214,321 |
|
Non-Current
Financial Instruments |
905,095,000 |
942,040,000 |
345,310,000 |
|
Investment_Related
Companies |
649,072,922 |
1,038,290,386 |
1,565,025,117 |
|
Tangibles |
66,074,836,093 |
41,559,300,558 |
37,572,426,921 |
|
Intangibles |
446,470,751 |
455,640,184 |
463,609,283 |
|
Other
Non-Current Assets |
160,931,000 |
290,931,000 |
232,843,000 |
|
Total Liabilities |
47,186,462,135 |
26,017,471,038 |
29,243,546,483 |
|
Current Liabilities |
33,183,352,894 |
21,247,852,399 |
21,691,730,737 |
|
Trade Payables |
9,224,832,964 |
9,581,306,909 |
9,366,395,200 |
|
Other
Current Financial Debts |
19,685,000,000 |
6,802,300,000 |
8,253,911,344 |
|
Other Payables |
3,641,236,809 |
3,257,145,073 |
3,022,269,988 |
|
Accrued
Income Tax |
387,786,850 |
557,135,725 |
812,270,275 |
|
Other
Current Liabilities |
244,496,271 |
1,049,964,692 |
236,883,930 |
|
Non-Current Liabilities |
14,003,109,241 |
4,769,618,639 |
7,551,815,746 |
|
Other
Non-Current Financial Debts |
12,500,000,000 |
2,000,000,000 |
4,200,000,000 |
|
Provision
for Severance & Retirement |
292,039,387 |
1,115,829,445 |
1,613,082,376 |
|
Deferred
Income Tax Credit |
1,211,069,854 |
1,653,789,194 |
1,738,733,370 |
|
Capital Stock |
25,978,050,000 |
25,978,050,000 |
25,978,050,000 |
|
Capital
Surplus |
35,082,467,228 |
30,667,771,009 |
27,160,808,823 |
|
Others |
-472,370,009 |
-280,366,758 |
-222,345,564 |
|
Total
Equity |
60,588,147,219 |
56,365,454,251 |
52,916,513,259 |
|
Liab.
& Shareholder’s Equity |
107,774,609,354 |
82,382,925,289 |
82,160,059,742 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Sales |
172,842,645,449 |
161,459,628,488 |
175,199,488,738 |
|
Cost
of Sold Goods |
160,303,385,195 |
148,481,739,929 |
162,272,473,848 |
|
Gross
Profit |
12,539,260,254 |
12,977,888,559 |
12,927,014,890 |
|
Selling
& Admin. Expenses |
6,670,315,981 |
6,933,615,742 |
6,898,033,836 |
|
Operating
Income |
5,868,944,273 |
6,044,272,817 |
6,028,981,054 |
|
Finance
Income |
570,944,822 |
620,639,660 |
2,199,253,870 |
|
Finance
Expenses |
922,477,408 |
966,765,110 |
1,730,496,791 |
|
Other
Income |
235,169,483 |
649,797,959 |
256,899,554 |
|
Other
Expenses |
297,692,635 |
44,007,710 |
141,989,260 |
|
Profits
from Investment on Related Companies |
-282,532,824 |
-385,298,585 |
-288,952,988 |
|
Income
Before Taxes |
5,172,355,711 |
5,918,639,031 |
6,323,695,439 |
|
Income
Taxes Expenses |
121,545,800 |
1,096,272,946 |
1,456,401,138 |
|
Net
Income |
5,050,809,911 |
4,822,366,085 |
4,867,294,301 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Operating Activities Cash Flows |
2,722,606,917 |
9,282,493,086 |
1,946,742,790 |
|
Net
Income |
5,050,809,911 |
4,822,366,085 |
4,867,294,301 |
|
Adjustment |
-1,282,973,763 |
6,094,432,484 |
-1,043,345,581 |
|
Interests
Received |
144,302,202 |
108,064,242 |
146,043,312 |
|
Interests
Paid |
-293,565,508 |
-451,936,460 |
-714,926,572 |
|
Income
Taxes |
-895,965,925 |
-1,290,433,265 |
-1,308,322,670 |
|
Cash
Flows from Investing |
-26,883,774,343 |
-6,585,295,845 |
-8,991,208,036 |
|
Cash
Flows from Financing |
22,473,468,250 |
-4,560,139,069 |
4,506,331,322 |
|
Increase/Decrease
in Cash |
-1,687,699,176 |
-1,862,941,828 |
-2,538,133,924 |
|
Cash
at the Beginning of Year |
5,108,865,859 |
6,968,598,506 |
9,505,044,567 |
|
Cash
at the End of Year |
3,423,520,013 |
5,108,865,859 |
6,968,598,506 |
|
Main Products & Services |
Aluminum Foil Heat Exchanger |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
DIA ALUMINIUM INDIA PRIVATE LIMITED DONG-IL DEVANLAY INC.(110111-1973604) DONGIL CORPORATION(110111-0019219) LG ELECTRONICS INC.(110111-2487050) |
|
Competitors |
SAM-A ALUMINIUM CO., LTD. 111-2, BAKDAL 2-DONG, MANAN-GU, ANYANG-SI,
GYEONGGI-DO, KOREA TEL:+82-31-467-6800 FAX:+82-31-446-2121 DAE HAN EUNPAKGY CO., LTD. 308, UNYONG-RI, DUNPO-MYEON, ASAN-SI,
CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-532-0108 FAX:+82-41-532-0109 KOREA ALUMINIUM CO., LTD. 457, GWANGDEOK-RI, DOAN-MYEON, JEUNGPYEONG-GUN,
CHUNGCHEONGBUK-DO, KOREA TEL:+82-43-836-8801 FAX:+82-43-836-8804 |
|
Affiliates-Domestic |
DONGIL CORPORATION(110111-0019219) DONG IL RENOWN INC.(120111-0002444) DONG-IL Y&K INC(110111-0090384) DONG-IL DEVANLAY INC.(110111-1973604) DI-BIZ CO., LTD.(110111-0584858) |
|
Affiliates-Overseas |
PT DONGIL INDONESIA DIB-EGYPT LTD. QINGDAO DONGIL CO., LTD.(CHINA) |
|
Overseas Office |
|
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
DIA ALUMINIUM INDIA PRIVATE LIMITED (50.0% held by the subject company) Dong-il Corporation and Dong-il aluminium
Corporation established, investing 50:50, at August 13, 2004 by purpose for
oversea market reclamation of heat exchanger for air conditioner. It is
situated in PUNE footway, MUMBAI, neighborhood city and rushed in regular
production after it is completed in first half of 2005. We are trying for the
production, sale growth by main force of heat exchanger. Also, as the first
local subsidiary, feel self-conceit, and we will expand our business area
through oversea market reclamation and production and sale extension. PLOT NO. A-6/2, MIDC RANJANGAON, TAL.
SHIRUR .DIST. PUNE -412 220 ,INDIA TEL:+91-21-3823-2841 FAX:+ 91-21-3823-2844 CHEON KWON, LEE, PRESIDENT :
LCK3712@YAHOO.CO.KR D-29, MARIGOLD, KALYANINAGAR, PUNE -411
014, INDIA TEL:+91-20-2703-1061 FAX:+ 91-20-2703-2844 YOUNG CHEON, KIM, MANAGER :
DIAKYC@YAHOO.CO.KR |
|
Subsidiary |
|
|
Corporate Ownership |
DONGIL CORPORATION(110111-0019219) |
|
Major Shareholders |
DONGIL CORPORATION(110111-0019219) |
|
Cooperative Enterprise |
-Insured Company MERITZ FIRE & MARINE INSURANCE CO., LTD(110111-0013328) |
The subject deals with
the companies in Australia, China, Germany, India, Indonesia, Iran, Japan and
USA.
No.
-----
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.74 |
|
|
1 |
Rs.94.65 |
|
Euro |
1 |
Rs.70.79 |
INFORMATION DETAILS
|
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 |
|
|
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.