|
Report No. : |
330184 |
|
Report Date : |
04.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
DONGNAM CHEMICAL CO., LTD. |
|
|
|
|
Registered Office : |
80-61,Tancheonsaneopdanji-Gil,Tancheon-Myeon,Gongju-Si, Chungcheongnam-Do, Korea 314-853 |
|
|
|
|
Country : |
South
Korea |
|
|
|
|
Financials (as on) : |
31.03.2015 |
|
|
|
|
Date of Incorporation : |
01.10.1965 |
|
|
|
|
Com. Reg. No.: |
122-81-17945 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Surface-Active Agents |
|
|
|
|
No. of Employees : |
77 |
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 – 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 |
DONGNAM CHEMICAL
CO., LTD. |
|
Registered Address |
80-61, Tancheonsaneopdanji-gil,
Tancheon-myeon, Gongju-si, Chungcheongnam-do, Korea |
|
Building |
|
|
Zip Code |
314-853 |
|
Tel |
+82-41-840-3100 |
|
Fax |
+82-41-858-7001 |
|
E-mail |
global@dongnamchem.com;sales@dongnamchem.com;rad@dongnamchem.com |
|
Website |
www.dongnamchem.com |
|
Trading Address |
80-61, Tancheonsaneopdanji-gil, Tancheon-myeon,
Gongju-si, Chungcheongnam-do, Korea (Old Address System : 730-1, Deokji-ri,
Tancheon-myeon, Gongju-si, Chungcheongnam-do, Korea) |
|
Tel |
+82-41-840-3100 |
|
Fax |
+82-41-858-7001 |
|
Other Address-Bupyeong Factory |
99, Bupyeongbuk-ro, Bupyeong-gu, Incheon,
Korea (Old Address System : 385-1, Cheongcheon
2-dong, Bupyeong-gu, Incheon, Korea) |
|
Tel |
+82-32-450-3700 |
|
Fax |
+82-32-525-0104 |
|
Other Address-Namdong Factory |
98B-4, Namdong Industrial Complex, 662-3, Gojan-dong,
Namdong-gu, Incheon, Korea |
|
Tel |
+82-32-818-1333 |
|
Fax |
+82-32-818-1344 |
|
Other Address-Daesan Factory |
691-7, Daejuk-ri, Daesan-eup, Seosan-si,
Chungcheongnam-do, Korea (Old Address System : 413-97, Jugyeop-ro, Daesan-eup,
Seosan-si, Chungcheongnam-do, Korea) |
|
Tel |
+82-41-661-4800 |
|
Fax |
+82-41-661-4815 |
|
Other Address-Daegu Branch |
42-429, Ihyeon-dong, Seo-gu, Daegu, Korea |
|
Tel |
+82-53-521-7212~3 |
|
Fax |
+82-53-521-7214 |
|
Other Address-Busan Branch |
380-2, Samnak-dong, Sasang-gu, Busan, Korea |
|
Tel |
+82-51-301-5984~6 |
|
Fax |
+82-51-301-5987 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Surface-Active Agents |
|
Main Business |
Surface Active Agent, Coarse Manufacturing for Fiber, Cleaning Material,
Fiber Emulsifier, Emulsifier for Agricultural Chemicals |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
10/01/1965 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Surfactants(12161900) |
|
Buy |
Biochemicals(12352200) |
|
Buy |
Stearic Acid |
|
Buy |
Ethylene Oxide |
|
Buy |
Lauryl Alcohol |
|
Name |
Lee Jang-Hoon |
|
Address |
|
|
Date of Birth |
11/1949 |
|
Title |
Co-President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
6,399,415,000 |
|||||||||||||||||||||||||||
|
Employees |
77 |
|||||||||||||||||||||||||||
|
Formation |
Listed Company (Korea Stock Exchange : 023450) as of 12/24/1996 |
|||||||||||||||||||||||||||
|
Bank Details |
Citibank, Korea-Daegu Bank Shinhan Bank |
|||||||||||||||||||||||||||
|
Corporate Registered No. |
110111-0057012 |
|||||||||||||||||||||||||||
|
Business Registered No. |
122-81-17945 |
|||||||||||||||||||||||||||
|
Permit & Licenses |
10/13/1998 ISO 9001 Int’l Trade No.: 850779 |
|||||||||||||||||||||||||||
|
Shareholder Position |
|
|||||||||||||||||||||||||||
|
Company History |
10/01/1965 Incorporated as HEUNGIL
SYNTHETIC INDUSTRIES CO., LTD. 12/12/1970 Changed company name to DONGNAM
SYNTHETIC INDUSTRIES CO., LTD. 11/30/1996 Awarded US$5 Million Export Top
Prize 03/19/2004 Changed company name to the present
name |
|||||||||||||||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Date of Birth |
|
Co-President & CEO |
Mr. |
Lee Jang-Hoon |
Korean |
Male |
1949.11 |
|
Co-President & CEO |
Mr. |
Yang Jong-Sang |
Korean |
Male |
1955.10 |
|
Executive Director |
Mr. |
Ahn Hyun-Kwan |
Korean |
Male |
1961.10 |
|
Executive Director |
Mr. |
Lim Sung-Kyu |
Korean |
Male |
1957.11. |
|
Executive Director |
Mr. |
Kim Phil-Soo |
Korean |
Male |
1961.08. |
|
Director |
Mr. |
Kim Jung-Don |
Korean |
Male |
1954.01 |
|
Outside Director |
Mr. |
You Jae-Seok |
Korean |
Male |
1956.01 |
|
Outside Director |
Mr. |
Kang Yeon-Seung |
Korean |
Male |
1957.07 |
|
Auditor |
Mr. |
Seo Young-Kyu |
Korean |
Male |
1946.11. |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
17,548,127,131 |
69,305,479,263 |
563,310,789 |
|
|
(*)2014 |
76,119,599,017 |
67,560,066,830 |
2,295,612,804 |
|
(*)2013 |
60,564,486,326 |
56,641,901,674 |
1,989,502,269 |
|
(*)2012 |
61,964,194,197 |
54,686,375,690 |
3,809,730,061 |
|
(*)2011 |
59,784,516,000 |
62,255,155,000 |
1,812,404,000 |
|
(*)2010 |
49,918,409,000 |
50,165,380,000 |
3,306,010,000 |
|
2009 |
44,452,676,416 |
47,012,990,543 |
3,887,557,037 |
|
2008 |
44,423,998,530 |
40,815,778,490 |
2,038,826,150 |
|
2007 |
40,185,064,988 |
38,400,855,807 |
1,745,566,202 |
|
2006 |
36,627,129,354 |
34,909,762,265 |
2,214,225,267 |
|
2005 |
42,112,432,994 |
33,164,610,741 |
2,433,156,396 |
(*)Figures are based
on the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
50,000,000,000 |
|
Paid-Up Capital(KRW) |
6,399,415,000 |
|
Total Issued Shares |
1,279,883 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
01/01/2015~03/31/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Total
Assets |
69,305,479,263 |
67,560,066,830 |
56,641,901,674 |
|
Current Assets |
22,329,157,550 |
21,518,888,676 |
23,056,637,544 |
|
Cash
& Cash Equivalents |
543,149,090 |
369,131,509 |
1,588,538,128 |
|
Trade
Receivables |
13,412,883,086 |
13,243,247,717 |
13,598,463,811 |
|
Current
Financial Instruments |
133,311,526 |
294,534,308 |
242,368,327 |
|
Inventories |
8,197,885,057 |
7,539,951,613 |
7,566,001,817 |
|
Other
Current Assets |
41,928,791 |
72,023,529 |
61,265,461 |
|
Non-Current Assets |
46,976,321,713 |
46,041,178,154 |
33,585,264,130 |
|
Long-Term
Trade Receivables |
26,500,000 |
|
10,000,000 |
|
Non-Current
Non-Financial Instruments |
639,922,200 |
696,913,290 |
400,694,600 |
|
Deferred
Income Tax Assets |
3,335,758 |
3,335,758 |
|
|
Marketable
Financial Instruments |
2,388,100,000 |
2,388,100,000 |
2,388,100,000 |
|
Tangibles |
43,307,033,862 |
42,329,101,208 |
30,252,414,257 |
|
Intangibles |
611,429,893 |
623,727,898 |
534,055,273 |
|
Total Liabilities |
18,616,136,480 |
17,233,727,236 |
7,287,750,176 |
|
Current Liabilities |
13,714,185,164 |
12,291,605,074 |
4,882,901,980 |
|
Trade Payables |
3,934,859,386 |
4,191,025,607 |
3,505,571,069 |
|
Other
Current Financial Debts |
1,716,198,628 |
1,384,437,644 |
992,172,743 |
|
Short-Term
Borrowings |
7,654,000,000 |
6,309,600,000 |
|
|
Deferred
Income Tax Credit |
198,585,706 |
195,962,166 |
253,091,210 |
|
Other
Current Liabilities |
210,541,444 |
210,579,657 |
132,066,958 |
|
Non-Current Liabilities |
4,901,951,316 |
4,942,122,162 |
2,404,848,196 |
|
Long-Term
Borrowings |
3,508,284,190 |
3,508,284,190 |
1,440,000,000 |
|
Confirmed
Salaries |
1,378,667,126 |
1,418,837,972 |
809,305,776 |
|
Deferred
Income Tax Credit |
|
|
155,542,420 |
|
Other
Non-Current Financial Debts |
15,000,000 |
15,000,000 |
|
|
Capital Stock |
6,399,415,000 |
6,399,415,000 |
6,391,615,000 |
|
Capital
Surplus |
16,472,233,077 |
16,472,233,077 |
16,426,213,077 |
|
Others |
-3,892,924,827 |
-3,892,924,827 |
-3,081,530,827 |
|
Profit
Surplus |
31,710,619,533 |
31,347,616,344 |
29,617,854,248 |
|
Total
Equity |
50,689,342,783 |
50,326,339,594 |
49,354,151,498 |
|
Liab.
& Shareholder’s Equity |
69,305,479,263 |
67,560,066,830 |
56,641,901,674 |
|
Income Statement |
|||
|
Unit : Korean Won |
01/01/2015~03/31/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Sales |
17,548,127,131 |
76,119,599,017 |
60,564,486,326 |
|
Cost
of Sold Goods |
15,274,875,325 |
66,570,933,646 |
52,638,617,203 |
|
Gross
Profit |
2,273,251,806 |
9,548,665,371 |
7,925,869,123 |
|
Selling
& Admin. Expenses |
1,703,543,979 |
7,077,412,597 |
5,531,951,972 |
|
Operating
Income |
569,707,827 |
2,471,252,774 |
2,393,917,151 |
|
Other
Income |
211,653,355 |
429,919,752 |
183,709,598 |
|
Other
Expenses |
-24,757,412 |
-80,306,183 |
-273,957,789 |
|
Finance
Income |
36,891,909 |
142,117,017 |
178,744,748 |
|
Finance
Expenses |
140,736,840 |
308,786,234 |
97,946,822 |
|
Income
Before Taxes |
652,758,839 |
2,654,197,126 |
2,384,466,886 |
|
Income
Taxes Expenses |
89,448,050 |
358,584,322 |
394,964,617 |
|
Net
Income |
563,310,789 |
2,295,612,804 |
1,989,502,269 |
|
Cash Flows |
|||
|
Unit : Korean Won |
01/01/2015~03/31/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Operating Activities Cash Flows |
242,444,494 |
4,351,975,644 |
184,372,103 |
|
Cash
Flows from Operating |
540,605,987 |
5,209,970,360 |
2,496,638,812 |
|
Net
Income |
563,310,789 |
2,295,612,804 |
1,989,502,269 |
|
Adjustment |
688,707,197 |
2,090,342,836 |
1,699,306,573 |
|
Changes
in Asset/ & Liability |
-711,411,999 |
824,014,720 |
-1,192,170,030 |
|
Interests
Received |
1,723,569 |
14,508,329 |
69,790,178 |
|
Interests
Paid |
-12,752,952 |
-195,413,495 |
-11,041,068 |
|
Dividends
Received |
-86,824,510 |
-472,653,950 |
-2,166,304,219 |
|
Income
Taxes |
-200,307,600 |
-204,435,600 |
-204,711,600 |
|
Cash
Flows from Investing |
-1,388,121,714 |
-13,184,002,327 |
-3,695,398,457 |
|
Cash
Flows from Financing |
1,320,400,000 |
7,612,510,190 |
1,381,762,600 |
|
Increase/Decrease
in Cash |
174,722,780 |
-1,219,516,493 |
-2,129,263,754 |
|
Cash
at the Beginning of Year |
369,131,509 |
1,588,538,128 |
3,717,804,946 |
|
Cash
at the End of Year |
543,149,090 |
369,131,509 |
1,588,538,128 |
|
Main Products & Services |
Nonionic Surfactants Cationic Surfactants Anionic Surfactants Amphteric Surfactants Esters Products Stearic Acid Ethylene Oxide Brand Name : Monopol,Enazol,Sofnol, PEG, MONOPOL,FMD, MBC |
||||||||
|
Annual Production Capacity (Unit : Thousand Ton) |
|
||||||||
|
Technologies Acquired |
|
|
Suppliers |
LG CHEM LTD.(110111-2207995) CJ LION CORPORATION(120111-0360181) |
|
Customers |
|
|
Competitors |
AK CHEMTECH CO., LTD. MISEONG BLDG., 72-6, YONGJEON-DONG,
DONG-GU, DAEJEON, KOREA TEL:+82-42-280-5700 FAX:+82-42-621-0466 SFC CO., LTD. 11-04-0007, NATIONAL INDUSTRIAL COMPLEX,
HWACHI-DONG, YEOSU-SI, JEOLLANAM-DO, KOREA TEL:+82-61-685-8865 FAX:+82-61-685-8860 OH SUNG CHEMICAL IND. CO., LTD. 76B-11L, NAMDONG INDUSTRIAL COMPLEX,
645-10, GOJAN-DONG, NAMDONG-GU, INCHEON, KOREA TEL:+82-32-547-3321 FAX:+82-32-547-3327 |
|
Affiliates |
MIWON COMMERCIAL CO., LTD.(130111-0007707) MIWON CHEMICALS
CO., LTD.(230111-0172244) TAEKWANG FINE CHEMICAL CO.,
LTD.(120111-0052142) ASIA STABILIZERS CO., LTD.(ASCL: 134711-0016596) MIWON CHEMICALS CO., LTD.(230111-0172244) MIWON SPECIALTY
CHEMICAL CO., LTD.(210111-0063190) MIWON COMMERCIAL CO., LTD.(130111-0007707) MISUNG TRADING CO., LTD.(134111-0025929) MISUNG TOTAL CORPORATION(180111-0167832) MIWHA LOGISTICS CO., LTD.(230111-0072014) MIWOO SILUP CO., LTD.(134111-0062773) MIWON EOD CO., LTD.(161411-0023544) MIWON NORTH AMERICA. INC.(USA) MIWON EUROPE GMBH(GERMANY) MIWON SPAIN S.L.U.(SPAIN) MIWON AUSTRIA F&E GMBH(AUSTRIA) |
|
|
|
|
Cooperative Enterprise |
-Insured Company MERITZ FIRE & MARINE INSURANCE CO., LTD.(110111-0013328) HEUNGKUK FIRE & MARINE INSURANCE CO., LTD.(110111-0016728) HYUNDAI MARINE & FIRE INSURANCE CO., LTD.(110111-0035893) |
|
Sales/ Unit :Mil KRW |
03/2015 |
2014 |
2013 |
|
Export |
3,005 |
9,069 |
8,090 |
|
Domestic |
14,543 |
67,051 |
52,474 |
|
Total |
17,548 |
76,119 |
60,564 |
Not Available.
No.
-----------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.40 |
|
|
1 |
Rs.98.94 |
|
Euro |
1 |
Rs.70.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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.