|
Report No. : |
328084 |
|
Report Date : |
18.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
DONGA ENG CO., LTD. |
|
|
|
|
Registered Office : |
301-13, Sinwon-ro, Danwon-gu, Ansan-si, Gyeonggi-do, Korea, 16B-18L, Banwol Industrial Complex, 425-100 |
|
|
|
|
Country : |
South
Korea |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
05.09.2002 |
|
|
|
|
Com. Reg. No.: |
134-81-89044 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Manufacture of Moulding Patterns, Moulds and Industrial Patterns |
|
|
|
|
No. of Employees : |
41 |
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 : |
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, and is currently the world's 12th
largest economy. 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 sluggish growth because of external market slowdowns. 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.
|
Source
: CIA |
|
Company Name |
DONGA ENG CO., LTD. (Korean Company Name : “(주)동아이엔지”) |
|
Registered Address |
301-13, Sinwon-ro, Danwon-gu, Ansan-si,
Gyeonggi-do, Korea |
|
Building |
16B-18L, Banwol Industrial Complex |
|
Zip Code |
425-100 |
|
Tel |
+82-31-492-5237~9 |
|
Fax |
+82-31-492-5251 |
|
E-mail |
ljs@dongaeng.co.kr |
|
Website |
www.dongaeng.co.kr |
|
Trading Address |
16B-18L, Banwol Industrial Complex,
301-13, Sinwon-ro, Danwon-gu, Ansan-si, Gyeonggi-do, Korea (Old Address System : 16B-18L, Banwol
Industrial Complex, 452-3, Mongnae-dong, Danwon-gu, Ansan-si, Gyeonggi-do,
Korea) |
|
Tel |
+82-31-492-5237~9 |
|
Fax |
+82-31-492-5251 |
|
Other Address |
58, Yanggyo 2-gil, Oseong-myeon,
Pyeongtaek-si, Gyeonggi-do, Korea (Old Address System : 195-1, Yanggyo-ri,
Oseong-myeon, Pyeongtaek-si, Gyeonggi-do, Korea) |
|
Tel |
|
|
Fax |
|
|
Other Address |
3BA-207, Shihwa Industrail Complex, 47,
Mayu-ro 42beon-gil, Siheung-si, Gyeonggi-do, Korea (Old Address System : 3BA-207, Shihwa
Industrail Complex, 2184-8, Jeongwang-dong, Siheung-si, Gyeonggi-do, Korea) |
|
Tel |
|
|
Fax |
|
|
Other Address |
42, Sandan-ro, Gunsan-si, Jeollabuk-do,
Korea (Old Address System : 814-4, Osikdo-dong,
Gunsan-si, Jeollabuk-do, Korea) |
|
Tel |
|
|
Fax |
|
|
Type |
Export |
|
Industry |
Manufacture of Moulding Patterns, Moulds and Industrial Patterns |
|
Main Business |
Molds |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
09/05/2002 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Plastic injection molds(23151514) |
|
Name |
Kang Byong-Jo |
|
Address |
Suite 714-2402, 30, Haeyang 1-ro, Sangrok-gu,
Ansan-si, Gyeonggi-do, Korea |
|
Date of Birth |
11/29/1959 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
1,000,000,000 |
||||||||||||||||||
|
Employees |
41 |
||||||||||||||||||
|
Formation |
Co., Ltd by Shares |
||||||||||||||||||
|
Bank Details |
Industrial Bank of Korea Korea Exchange Bank Hana Bank |
||||||||||||||||||
|
Corporate Registered No. |
135511-0130810 |
||||||||||||||||||
|
Business Registered No. |
134-81-89044 |
||||||||||||||||||
|
Permit & Licenses |
12/2002 QS 9000 03/2001 ISO 9001 Int’l Trade No.: 30645196 |
||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||
|
Company History |
09/05/2002 Incorporated as the present name 10/21/2004 Moved to the present HQ address
from 1378-15, Jeongwang-dong, Siheung-si, Gyeonggi-do, Korea 11/25/2005 Designated as a Venture Business 12/27/2005 Increased capital to
1,000,000,000 KRW from 750,000,000 KRW 11/15/2006 Designated as an INNO-BIZ Company 10/2009 Awarded US$ 1 Million Export Top Prize 07/12/2012 Increased the authorized shares to 5,000,000 shares from
1,000,000 shares |
||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Kang Byong-Jo |
Male |
Korean |
03/28/2007 |
|
Director |
M/S. |
Lee Jae-Sook |
Female |
Korean |
02/16/2004 |
|
Director |
Mr. |
Kang Dong-Koo |
Male |
Korean |
03/24/2015 |
|
Auditor |
Mr. |
Lee Sung-Jo |
Male |
Korean |
07/12/2012 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2014 |
8,666,374,749 |
15,502,580,687 |
257,238,749 |
|
2013 |
11,734,226,095 |
16,550,820,923 |
1,161,168,331 |
|
2012 |
10,086,924,218 |
10,548,957,595 |
1,332,084,408 |
|
2011 |
9,508,145,000 |
9,408,165,000 |
459,809,000 |
|
2010 |
8,536,162,000 |
9,343,191,000 |
1,450,880,000 |
|
2009 |
5,311,138,000 |
7,290,448,000 |
426,676,000 |
|
Authorized Capital(KRW) |
50,000,000,000 |
|
Paid-Up Capital(KRW) |
1,000,000,000 |
|
Total Issued Shares |
100,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total Assets |
15,502,580,687 |
16,550,820,923 |
10,548,957,595 |
|
Current Assets |
4,682,012,955 |
6,650,040,278 |
4,321,001,572 |
|
-Quick Assets |
3,821,898,041 |
5,145,257,053 |
4,067,159,696 |
|
-Inventories |
860,114,914 |
1,504,783,225 |
253,841,876 |
|
Fixed Assets |
10,820,567,732 |
9,900,780,645 |
6,227,956,023 |
|
-Investment |
2,655,735,157 |
2,452,210,845 |
2,279,143,437 |
|
-Tangibles |
7,952,684,407 |
7,312,445,033 |
3,777,840,919 |
|
-Intangibles |
166,863,168 |
90,839,767 |
93,046,667 |
|
-Others |
45,285,000 |
45,285,000 |
77,925,000 |
|
Total Liabilities |
9,965,503,251 |
10,970,982,236 |
5,130,287,239 |
|
Current Liabilities |
2,978,584,342 |
5,766,806,651 |
2,567,340,822 |
|
Fixed Liabilities |
6,986,918,909 |
5,204,175,585 |
2,562,946,417 |
|
Capital Stock |
1,000,000,000 |
1,000,000,000 |
1,000,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
4,537,077,436 |
4,579,838,687 |
4,418,670,356 |
|
Capital Adjustment |
|
|
|
|
Total Equity |
5,537,077,436 |
5,579,838,687 |
5,418,670,356 |
|
Liab. & Shareholder’s Equity |
15,502,580,687 |
16,550,820,923 |
10,548,957,595 |
|
Current
Liabilities |
2,978,584,342 |
5,766,806,651 |
2,567,340,822 |
|
Trade Payables |
1,188,564,275 |
1,841,906,533 |
939,343,608 |
|
Account Payables |
92,887,518 |
107,743,337 |
141,345,072 |
|
Withholdings |
42,518,210 |
56,662,520 |
33,482,993 |
|
VAT Withhold |
|
|
8,264,351 |
|
Advance Receipts |
1,302,909,594 |
1,888,852,096 |
716,554,806 |
|
Short-Term Borrowings |
- |
1,000,000,000 |
- |
|
Current Portion of Long-Term Debts |
241,812,792 |
564,726,788 |
321,800,000 |
|
Accrued Income Tax |
- |
83,979,210 |
305,819,004 |
|
Accrued Expenses |
109,891,953 |
222,936,167 |
100,730,988 |
|
Fixed
Liabilities |
6,986,918,909 |
5,204,175,585 |
2,562,946,417 |
|
Long-Term Borrowings |
5,705,263,616 |
4,240,394,192 |
1,916,210,000 |
|
Leasehold Deposit Received |
275,000,000 |
159,200,000 |
166,500,000 |
|
Provision for Severance & Retirement |
1,006,655,293 |
804,581,393 |
480,236,417 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
8,666,374,749 |
11,734,226,095 |
10,086,924,218 |
|
Cost of Sold Goods |
6,563,978,575 |
8,315,229,459 |
6,497,904,030 |
|
Gross Profit |
2,102,396,174 |
3,418,996,636 |
3,589,020,188 |
|
Selling & Admin. Expenses |
1,706,433,868 |
2,197,158,247 |
1,491,080,843 |
|
Operating Income |
395,962,306 |
1,221,838,389 |
2,097,939,345 |
|
Non-Operating Income |
159,865,892 |
539,060,058 |
441,892,303 |
|
Non-Operating Expenses |
286,858,634 |
355,266,486 |
854,908,278 |
|
Income Before Taxes |
268,969,564 |
1,405,631,961 |
1,684,923,370 |
|
Income Taxes Expenses |
11,730,815 |
244,463,630 |
352,838,962 |
|
Net Income |
257,238,749 |
1,161,168,331 |
1,332,084,408 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Cash Flows from Operating |
788,616,838 |
1,573,553,824 |
2,403,496,399 |
|
-Net Income |
257,238,749 |
1,161,168,331 |
1,332,084,408 |
|
-Exp. without Cash Outflow |
471,658,734 |
591,228,955 |
701,015,908 |
|
-Revenue without Cash Inflows |
-53,149,972 |
-218,151,573 |
-45,459,800 |
|
-Changes in Asset/ & Liability |
112,869,327 |
39,308,111 |
415,855,883 |
|
Cash Flows from Investing |
-1,237,895,104 |
-3,781,500,256 |
-2,359,236,717 |
|
-Cash Inflow from Investing |
- |
153,491,360 |
20,000,000 |
|
-Cash Outflows for Investing |
-1,237,895,104 |
-3,934,991,616 |
-2,379,236,717 |
|
Cash Flows from Financing |
-8,926,788 |
2,722,557,220 |
-37,268,260 |
|
-Cash Inflows from Financing |
1,967,800,000 |
4,044,357,220 |
351,410,540 |
|
-Cash Outflows from Financing |
-1,976,726,788 |
-1,321,800,000 |
-388,678,800 |
|
Increase/Decrease in Cash |
-458,205,054 |
514,610,788 |
6,991,422 |
|
Cash at the Beginning of Year |
2,306,596,324 |
1,791,985,536 |
1,784,994,114 |
|
Cash at the End of Year |
1,848,391,270 |
2,306,596,324 |
1,791,985,536 |
|
Main Products & Services |
Molds |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
YUJIN METAL CO., LTD.(151111-0044861) YONG JIN SPECIAL STEEL CO.,LTD.(124411-0030164) |
|
Customers |
NYFCO(CHINA) PELZER(GERMANY) HYUNDAI IHL CORPORATION(171211-0007722) HANWHA ADVANCED MATERIALS CORPORATION(110111-1725930) |
|
Competitors |
KEI U CORPORATION 565-15, GYESU-DONG, SIHEUNG-SI,
GYEONGGI-DO, KOREA TEL:+82-31-224-3945 FAX:+82-31-224-3946 HWA SUNG TECH 206-1, DALCHEON-DONG, BUK-GU, ULSAN, KOREA TEL:+82-52-282-4734 FAX:+82-52-282-4738 HYESUNG PRECISION CO. 1768-10, SONGJEONG-DONG, GANGSEO-GU, BUSAN,
KOREA TEL:+82-51-831-4975 FAX:+82-51-831-4985 |
|
Affiliates |
DAE EU S.R.O. (100.0% held by the subject company) DONG-A ENG (49.0% held by the subject company) DONG-A GLOBAL (77.1% held by the subject company) |
|
Overseas Office |
|
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
|
|
Subsidiary |
|
|
Corporate Ownership |
|
|
Major Shareholders |
|
|
Cooperative Enterprise |
-Insured Company MERITZ FIRE & MARINE INSURANCE CO., LTD.(110111-0013328) |
The Subject exports
to Japan and China.
No.
-------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.11 |
|
|
1 |
Rs.100.31 |
|
Euro |
1 |
Rs.72.17 |
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 |
|
|
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.