|
Report No. : |
331133 |
|
Report Date : |
08.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
DONG AH CO., LTD. |
|
|
|
|
Registered Office : |
562, Nongong-Ro, Nongong-Eup, Dalseong-Gun, Daegu, Korea 711-855 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
12.10.2010 |
|
|
|
|
Com. Reg. No.: |
514-81-74373 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Manufacture of Metal Fasteners and Screw Products. |
|
|
|
|
No. of Employees : |
31 |
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 |
DONG AH CO., LTD. (Ex Company Name : DONG AH BOLT CO., LTD. |
|
Registered Address |
562, Nongong-ro, Nongong-eup,
Dalseong-gun, Daegu, Korea |
|
Building |
|
|
Zip Code |
711-855 |
|
Tel |
+82-53-614-7000 |
|
Fax |
+82-53-614-7004 |
|
E-mail |
|
|
Website |
|
|
Trading Address |
562, Nongong-ro, Nongong-eup,
Dalseong-gun, Daegu, Korea (Old Address System : 29-57, Bonri-ri,
Nongong-eup, Dalseong-gun, Daegu, Korea) |
|
Tel |
+82-53-614-7000 |
|
Fax |
+82-53-614-7004 |
|
Other Address-Changwon Factory |
20, Nammyeon-ro 113beon-gil, Uichang-gu,
Changwon-si, Gyeongsangnam-do, Korea (Old Address System : 91, Daewon-dong,
Uichang-gu, Changwon-si, Gyeongsangnam-do, Korea) |
|
Tel |
+82-55-273-4581 |
|
Fax |
+82-55-273-9122 |
|
Other Address |
Rm.101-1414, 217, Pyeongchon-daero,
Dongan-gu, Anyang-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-383-4613~4 |
|
Fax |
|
|
Type |
Export/Import |
|
Industry |
Manufacture of Metal Fasteners and Screw Products |
|
Main Business |
Bolt, Nut |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
10/12/2010 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Screws(31161500) |
|
Sell |
Bolts(31161600) |
|
Sell |
Miscellaneous fasteners(31162400) |
|
Name |
Park Choon-Young |
|
Address |
Suite 111-1502, 90, Haksannam-ro,
Dalseo-gu, Daegu, Korea |
|
Date of Birth |
02/26/1961 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
3,350,700,000 |
||||||||||||||||||
|
Employees |
31 |
||||||||||||||||||
|
Formation |
Co., Ltd by Shares |
||||||||||||||||||
|
Bank Details |
Daegu Bank Gyungnam Bank Korea Exchange Bank |
||||||||||||||||||
|
Corporate Registered No. |
170111-0413732 |
||||||||||||||||||
|
Business Registered No. |
514-81-74373 |
||||||||||||||||||
|
Permit & Licenses |
Int’l Trade No.: 30702402 |
||||||||||||||||||
|
Shareholder Position |
(*)The list is based as of 12/31/2014. |
||||||||||||||||||
|
Company History |
12/31/2010 Acquired Bolt Business from DONGAH
CONSTRUCTION INDUSTRIAL CO., LTD.(110111-0119762) 10/12/2010 Incorporated as DONG AH BOLT
CO., LTD. 07/08/2014 Changed company name to the present name 07/01/2015 Increased capital to 3,350,700,000
KRW from 3,000,000,000 KRW 07/01/2015 Acquired Jinsung Heat Treatment Co., Ltd. |
||||||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Park Choon-Young |
Male |
Korean |
03/28/2014 |
|
Director |
Mr. |
Hwang Hyo-Young |
Male |
Korean |
01/01/2011 |
|
Director |
Mr. |
Hwang Hong-Young |
Male |
Korean |
03/28/2014 |
|
Outside Director |
M/S. |
Lee Yeon-Hwa |
Female |
Korean |
04/27/2012 |
|
Auditor |
Mr. |
Jung Sang-Hwa |
Male |
Korean |
03/13/2013 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2014 |
50,809,835,136 |
61,358,230,238 |
7,054,817,161 |
|
2013 |
47,228,469,139 |
58,418,933,337 |
8,405,400,738 |
|
2012 |
49,763,956,602 |
56,844,623,486 |
6,049,578,543 |
|
2011 |
49,624,388,258 |
57,028,138,136 |
4,825,166,171 |
|
2010 |
- |
45,256,050,204 |
-388,147,538 |
|
Authorized Capital(KRW) |
12,000,000,000 |
|
Paid-Up Capital(KRW) |
3,350,700,000 |
|
Total Issued Shares |
335,070 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total Assets |
61,358,230,238 |
58,418,933,337 |
56,844,623,486 |
|
Current Assets |
25,274,307,470 |
22,780,988,090 |
21,652,087,490 |
|
-Quick Assets |
17,058,989,822 |
14,304,165,416 |
15,750,733,500 |
|
-Inventories |
8,215,317,648 |
8,476,822,674 |
5,901,353,990 |
|
Fixed Assets |
36,083,922,768 |
35,637,945,247 |
35,192,535,996 |
|
-Investment |
2,500,000 |
132,500,000 |
2,500,000 |
|
-Tangibles |
35,876,212,768 |
35,325,235,247 |
35,009,745,996 |
|
-Intangibles |
|
|
|
|
-Others |
205,210,000 |
180,210,000 |
180,290,000 |
|
Total Liabilities |
37,251,415,163 |
41,366,935,423 |
47,358,026,310 |
|
Current Liabilities |
18,632,815,163 |
17,408,782,763 |
13,122,461,220 |
|
Fixed Liabilities |
18,618,600,000 |
23,958,152,660 |
34,235,565,090 |
|
Capital Stock |
3,000,000,000 |
3,000,000,000 |
3,000,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
21,106,815,075 |
14,051,997,914 |
6,486,597,176 |
|
Capital Adjustment |
|
|
|
|
Total Equity |
24,106,815,075 |
17,051,997,914 |
9,486,597,176 |
|
Liab. & Shareholder’s Equity |
61,358,230,238 |
58,418,933,337 |
56,844,623,486 |
|
Current Liabilities |
18,632,815,163 |
17,408,782,763 |
13,122,461,220 |
|
Trade Payables |
4,542,013,974 |
2,154,160,806 |
1,976,561,566 |
|
Account Payables |
1,280,672,410 |
1,333,843,313 |
562,838,621 |
|
Withholdings |
70,412,390 |
21,778,710 |
30,047,920 |
|
VAT Withhold |
172,002,007 |
27,987,849 |
294,172,129 |
|
Advance Receipts |
44,844,927 |
31,180,057 |
14,004,688 |
|
Short-Term Borrowings |
5,000,000,000 |
5,000,000,000 |
8,800,000,000 |
|
Accrued Expenses |
225,470,343 |
205,195,987 |
159,836,296 |
|
Current Portion of Long-Term Debts |
5,400,000,000 |
5,900,000,000 |
250,000,000 |
|
Guarantee Deposit Withhold |
115,000,000 |
55,000,000 |
55,000,000 |
|
Deferred Income Tax |
733,508,312 |
1,330,745,241 |
980,000,000 |
|
Short-Term Borrowings to Shareholders/ Executives/ Employees |
1,048,890,800 |
1,348,890,800 |
- |
|
Fixed Liabilities |
18,618,600,000 |
23,958,152,660 |
34,235,565,090 |
|
Long-Term Borrowings |
16,200,000,000 |
21,850,000,000 |
27,750,000,000 |
|
Leasehold Deposit Received |
2,000,000,000 |
2,000,000,000 |
2,000,000,000 |
|
Provision for Severance & Retirement |
418,600,000 |
108,152,660 |
135,565,090 |
|
Long-Term Borrowings to Shareholders/ Executives/ Employees |
|
|
4,350,000,000 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
50,809,835,136 |
47,228,469,139 |
49,763,956,602 |
|
Cost of Sold Goods |
38,200,464,014 |
33,936,795,803 |
38,718,436,735 |
|
Gross Profit |
12,609,371,122 |
13,291,673,336 |
11,045,519,867 |
|
Selling & Admin. Expenses |
3,426,739,320 |
2,701,962,586 |
2,763,786,472 |
|
Operating Income |
9,182,631,802 |
10,589,710,750 |
8,281,733,395 |
|
Non-Operating Income |
1,112,495,981 |
1,425,124,287 |
1,431,075,155 |
|
Non-Operating Expenses |
1,606,837,762 |
1,670,619,046 |
2,178,956,050 |
|
Income Before Taxes |
8,688,290,021 |
10,344,215,991 |
7,533,852,500 |
|
Income Taxes Expenses |
1,633,472,860 |
1,938,815,253 |
1,484,273,957 |
|
Net Income |
7,054,817,161 |
8,405,400,738 |
6,049,578,543 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Cash Flows from Operating |
9,724,747,123 |
7,285,526,951 |
7,328,724,020 |
|
-Net Income |
7,054,817,161 |
8,405,400,738 |
6,049,578,543 |
|
-Exp. without Cash Outflow |
2,182,682,171 |
1,584,654,384 |
1,734,460,143 |
|
-Revenue without Cash Inflows |
-8,797,862 |
-9,638,592 |
-6,790,361 |
|
-Changes in Asset/ & Liability |
496,045,653 |
-2,694,889,579 |
-448,524,305 |
|
Cash Flows from Investing |
-1,945,425,397 |
-652,930,630 |
-1,861,272,140 |
|
-Cash Inflow from Investing |
4,500,000 |
620,738,335 |
- |
|
-Cash Outflows for Investing |
-1,949,925,397 |
-1,273,668,965 |
-1,861,272,140 |
|
Cash Flows from Financing |
-6,390,000,000 |
-7,891,109,200 |
-5,330,000,000 |
|
-Cash Inflows from Financing |
60,000,000 |
4,000,000,000 |
1,800,000,000 |
|
-Cash Outflows from Financing |
-6,450,000,000 |
-11,891,109,200 |
-7,130,000,000 |
|
Increase/Decrease in Cash |
1,389,321,726 |
-1,258,512,879 |
137,451,880 |
|
Cash at the Beginning of Year |
2,241,591,281 |
3,500,104,160 |
3,362,652,280 |
|
Cash at the End of Year |
3,630,913,007 |
2,241,591,281 |
3,500,104,160 |
|
Main Products & Services |
Bolt, Nut |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Competitors |
WANNABE M CO., LTD. 448, SONGJEONG-DONG, GWANGJU-SI,
GYEONGGI-DO, KOREA TEL:+82-31-765-8797 FAX:+82-31-765-8798 HANIL STS CORP. 21, ONGJEONG-RI, TONGJIN-EUP, GIMPO-SI,
GYEONGGI-DO, KOREA TEL:+82-31-997-3111 FAX:+82-31-997-3112 DONG HWA STANLESS STEEL CO., LTD. 1509-4, DADAE 1-DONG, SAHA-GU, BUSAN, KOREA TEL:+82-51-266-5846 FAX:+82-51-263-1403 |
|
Affiliates |
JINSUNG C&I CO., LTD.(174111-0002309) JINSUNG CO., LTD.(170111-0355637) |
|
Cooperative Enterprise |
-Insured Company LIG INSURANCE CO., LTD.(110111-0017859) AIG KOREA INC.(110111-472501) |
Not Available.
No.
----------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.37 |
|
|
1 |
Rs.98.86 |
|
Euro |
1 |
Rs.69.97 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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.