|
Report No. : |
306204 |
|
Report Date : |
14.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
DHTECH CORPORATION |
|
|
|
|
Registered Office : |
38, Techno sunhwan-ro 1-gil, Yuga-myeon, Dalseong-gun, Daegu, Korea |
|
|
|
|
Country : |
South
Korea |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
29.12.2004 |
|
|
|
|
Com. Reg. No.: |
514-81-53650 |
|
|
|
|
Legal Form : |
Company Limited By Shares |
|
|
|
|
Line of Business : |
Manufacture of Other Parts and Accessories for Motor Vehicles,
Automotive Brake, Automotive Body Parts, Motor Engine Parts |
|
|
|
|
No. of Employees : |
59 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
KRW 76478630 |
|
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 – 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 |
DHTECH CORPORATION (Korean Company Name : “(주)디에이치테크”) |
|
Registered Address |
38, Techno sunhwan-ro 1-gil, Yuga-myeon, Dalseong-gun, Daegu, Korea |
|
Building |
|
|
Zip Code |
711-882 |
|
Tel |
+82-53-616-3141 |
|
Fax |
+82-53-616-3146 |
|
E-mail |
tghan@dhtechkorea.com |
|
Website |
www.dhtechkorea.com |
|
Trading Address |
38, Techno sunhwan-ro 1-gil, Yuga-myeon, Dalseong-gun, Daegu, Korea (Old Address System : 1142-1, Geum-ri, Yuga-myeon,
Dalseong-gun, Daegu, Korea) |
|
Tel |
+82-53-616-3141 |
|
Fax |
+82-53-616-3146 |
|
Other Address |
52, Hyeonpungseo-ro 93-gil, Hyeonpung-myeon, Dalseong-gun, Daegu,
Korea (Old Address System : 606-6, Jamo-ri, Hyeonpung-myeon, Dalseong-gun, Daegu,
Korea) |
|
Tel |
+82-53-616-3541 |
|
Fax |
|
|
Type |
Export/Import |
|
Industry |
Manufacture of Other Parts and Accessories for Motor Vehicles n. e. c. |
|
Main Business |
Automotive Brake, Automotive Body Parts, Motor Engine Parts |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
12/29/2004 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Disc brake pads(25171713) |
|
Sell |
Braking systems and components(25171700) |
|
Name |
Han Tae-Gyu |
|
Address |
Suite 116-1503, 33, Wolbae-ro 11-gil,
Dalseo-gu, Daegu, Korea |
|
Date of Birth |
02/15/1968 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
1,000,000,000 |
|||||||||||||||
|
Employees |
59 |
|||||||||||||||
|
Formation |
Co., Ltd by Shares |
|||||||||||||||
|
Bank Details |
Industrial Bank of Korea-Dalsung Industrial
Complex Branch |
|||||||||||||||
|
Corporate Registered No. |
170111-0278730 |
|||||||||||||||
|
Business Registered No. |
514-81-53650 |
|||||||||||||||
|
Permit & Licenses |
02/2006 ISO/TS16949 10/2005 ISO 14001 06/2000 QS 9000 06/2000 ISO 9002 Int’l Trade No.: 13127024 |
|||||||||||||||
|
Shareholder Position |
|
|||||||||||||||
|
Company History |
07/10/1996 Established as Dong Hyun
Precision Co.(Sole Proprietorship) 12/29/2004 Incorporated as the present name 05/24/2006 Increased the authorized shares
to 400,000 shares from 120,000 shares 06/29/2007 Designated as an INNO-BIZ
Company 12/28/2007 Increased capital to
1,000,000,000 KRW from 700,000,000 KRW 03/26/2014 Designated as a MAIN Company 03/26/2014 Moved to the present HQ address
from 29-160, Bolli-ri, Nongong-eup, Dalseong-gun, Daegu, Korea |
|||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Han Tae-Gyu |
Male |
Korean |
03/25/2013 |
|
Director |
Mr. |
Kim Chang-Soo |
Male |
Korean |
03/25/2013 |
|
Director |
Mr. |
Kim Young-Jo |
Male |
Korean |
03/25/2013 |
|
Auditor |
M/S. |
Ji Young-Sook |
Female |
Korean |
03/30/2007 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2013 |
23,334,776,000 |
8,942,459,000 |
1,020,215,000 |
|
2012 |
18,546,209,014 |
8,155,953,416 |
163,583,152 |
|
2011 |
20,546,917,817 |
7,822,646,902 |
-1,431,291,224 |
|
2010 |
20,055,710,402 |
10,851,217,383 |
733,209,963 |
|
2009 |
20,055,710,402 |
10,851,217,383 |
733,209,963 |
|
2008 |
11,300,685,131 |
7,463,077,727 |
-1,693,139,701 |
|
Authorized Capital(KRW) |
2,000,000,000 |
|
Paid-Up Capital(KRW) |
1,000,000,000 |
|
Total Issued Shares |
200,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Total Assets |
8,155,953,416 |
7,822,646,902 |
10,851,217,383 |
|
Current Assets |
2,660,893,687 |
3,095,298,434 |
5,605,897,145 |
|
-Quick Assets |
1,729,731,315 |
2,230,529,170 |
4,732,184,429 |
|
-Inventories |
931,162,372 |
864,769,264 |
873,712,716 |
|
Fixed Assets |
5,495,059,729 |
4,727,348,468 |
5,245,320,238 |
|
-Investment |
400,989,310 |
434,980,562 |
263,126,750 |
|
-Tangibles |
5,026,730,419 |
4,281,177,906 |
4,960,793,488 |
|
-Intangibles |
3,380,000 |
7,440,000 |
7,650,000 |
|
-Others |
63,960,000 |
3,750,000 |
13,750,000 |
|
Total Liabilities |
6,626,380,812 |
7,333,212,438 |
8,930,491,695 |
|
Current Liabilities |
5,259,302,627 |
5,475,304,738 |
6,325,663,855 |
|
Fixed Liabilities |
1,367,078,185 |
1,857,907,700 |
2,604,827,840 |
|
Capital Stock |
1,000,000,000 |
1,000,000,000 |
1,000,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
-1,957,411,001 |
-2,091,466,833 |
-660,175,609 |
|
Capital Adjustment |
2,486,983,605 |
1,580,901,297 |
1,580,901,297 |
|
Total Equity |
1,529,572,604 |
489,434,464 |
1,920,725,688 |
|
Liab. & Shareholder’s Equity |
8,155,953,416 |
7,822,646,902 |
10,851,217,383 |
|
Current
Liabilities |
5,259,302,627 |
5,475,304,738 |
6,325,663,855 |
|
Trade Payables |
761,642,332 |
880,853,605 |
2,348,661,839 |
|
Short-Term Borrowings |
3,414,500,000 |
3,184,000,000 |
2,714,000,000 |
|
Account Payables |
83,024,382 |
380,427,101 |
58,202,496 |
|
Accrued Expenses |
217,101,313 |
153,998,216 |
161,413,354 |
|
Advance Receipts |
191,420,000 |
|
|
|
Withholdings |
21,271,050 |
19,672,500 |
16,231,910 |
|
VAT Withhold |
69,303,550 |
74,253,316 |
26,474,256 |
|
Deferred Income Tax Credit |
|
|
|
|
Current Portion of Long-Term Debts |
501,040,000 |
782,100,000 |
1,000,680,000 |
|
Fixed
Liabilities |
1,367,078,185 |
1,857,907,700 |
2,604,827,840 |
|
Long-Term Borrowings |
1,078,540,000 |
1,531,400,000 |
2,286,360,000 |
|
Provision for Severance & Retirement |
338,723,560 |
354,984,990 |
346,589,820 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Sales |
18,546,209,014 |
20,546,917,817 |
20,055,710,402 |
|
Cost of Sold Goods |
16,075,414,414 |
17,743,041,590 |
17,131,683,291 |
|
Gross Profit |
2,470,794,600 |
2,803,876,227 |
2,924,027,111 |
|
Selling & Admin. Expenses |
1,772,807,243 |
2,447,703,074 |
1,782,821,203 |
|
Operating Income |
697,987,357 |
356,173,153 |
1,141,205,908 |
|
Non-Operating Income |
24,320,567 |
72,043,958 |
213,203,787 |
|
Non-Operating Expenses |
558,724,772 |
1,859,508,335 |
621,199,732 |
|
Income Before Taxes |
163,583,152 |
-1,431,291,224 |
733,209,963 |
|
Income Taxes Expenses |
- |
- |
- |
|
Net Income |
163,583,152 |
-1,431,291,224 |
733,209,963 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Cash Flows from Operating |
859,966,542 |
482,564,117 |
1,186,103,688 |
|
-Net Income |
163,583,152 |
-1,431,291,224 |
733,209,963 |
|
-Exp. without Cash Outflow |
619,567,074 |
2,702,962,587 |
779,388,736 |
|
-Revenue without Cash Inflows |
3,808,800 |
19,980,370 |
26,238,440 |
|
-Changes in Asset/ & Liability |
80,625,116 |
-769,126,876 |
-300,256,571 |
|
Cash Flows from Investing |
-336,997,401 |
-352,911,354 |
-269,563,676 |
|
-Cash Inflow from Investing |
66,952,599 |
120,000,000 |
215,039,423 |
|
-Cash Outflows for Investing |
403,950,000 |
472,911,354 |
484,603,099 |
|
Cash Flows from Financing |
-503,420,000 |
-503,540,000 |
-516,820,000 |
|
-Cash Inflows from Financing |
1,012,600,000 |
500,000,000 |
- |
|
-Cash Outflows from Financing |
1,516,020,000 |
1,003,540,000 |
516,820,000 |
|
Increase/Decrease in Cash |
19,549,141 |
-373,887,237 |
399,720,012 |
|
Cash at the Beginning of Year |
30,971,533 |
404,858,770 |
5,138,758 |
|
Cash at the End of Year |
50,520,674 |
30,971,533 |
404,858,770 |
|
Main Products & Services |
Automotive Brake, Automotive Body Parts, Motor Engine Parts |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
|
|
Competitors |
S & T DYNAMICS CO., LTD. 853-5, OE-DONG, CHANGWON-SI,
GYEONGSANGNAM-DO, KOREA TEL:+82-55-280-5000 FAX:+82-55-283-2579 SEOJIN CLUTCH CORP. 3NA-609, SIHWA INDUSTRIAL COMPLEX, 1280-9,
JEONGWANG 1-DONG, SIHEUNG-SI, GYEONGGI-DO, KOREA TEL:+82-31-496-1500 FAX:+82-31-499-7760 SAERON AUTOMOTIVE CORPORATION 306-1, GAJEON-RI, BYEONGCHEON-MYEON,
DONGNAM-GU, CHEONAN-SI, CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-560-4114 FAX:+82-41-561-9219 |
Not Available.
Not Available.
-------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.14 |
|
|
1 |
Rs.95.77 |
|
Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.