|
Report No. : |
329377 |
|
Report Date : |
26.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
DONGIL PAPER MFG. CO., LTD. |
|
|
|
|
Registered Office : |
104, Haean-Ro, Danwon-Gu, Ansan-Si, Gyeonggi-Do, 17-51, Banwol Industrial Complex, Korea 425-100 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.03.2015 |
|
|
|
|
Date of Incorporation : |
16.09.1986 |
|
|
|
|
Com. Reg. No.: |
134-81-05796 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Other Paper and Paperboard. |
|
|
|
|
No. of Employees : |
284 |
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. 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 |
DONGIL PAPER
MFG. CO., LTD. |
|
Registered Address |
104, Haean-ro, Danwon-gu, Ansan-si,
Gyeonggi-do, Korea |
|
Building |
17-51, Banwol Industrial Complex |
|
Zip Code |
425-100 |
|
Tel |
+82-31-491-0010 |
|
Fax |
+82-31-491-0023 |
|
E-mail |
webmaster@dongilpaper.co.kr |
|
Website |
www.dongilpaper.co.kr |
|
Trading Address |
17-51, Banwol Industrial Complex, 104,
Haean-ro, Danwon-gu, Ansan-si, Gyeonggi-do, Korea (Old Address System : 17-51, Banwol
Industrial Complex, 492-1, Mongnae-dong, Danwon-gu, Ansan-si, Gyeonggi-do,
Korea) |
|
Tel |
+82-31-491-0010 |
|
Fax |
+82-31-491-0023 |
|
Other Address-Uiryeong Factory |
1540-1, Dongdong-ri, Uiryeong-eup, Uiryeong-gun,
Gyeongsangnam-do, Korea |
|
Tel |
+82-55-572-3020 |
|
Fax |
+82-55-572-3025 |
|
Type |
Export |
|
Industry |
Manufacture of Other Paper and Paperboard |
|
Main Business |
Corrugate Medium Paper, Taste Linner Paper, Two Sides Paper |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
09/16/1986 |
The Subject owns
the premises of registered HQ address and Uiryeong Factory.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Cardboard(14121503) |
|
Sell |
Paper wastes(11141604) |
|
Name |
Jung Young-Sup |
|
Address |
|
|
Date of Birth |
01/02/1948 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
19,845,000,000 |
||||||||||||||||||||||||
|
Employees |
284 |
||||||||||||||||||||||||
|
Formation |
Listed Company (Korea Stock Exchange : 019300) as of 08/18/1995 A Company of TAILIM PACKAGING IND. CO.,
LTD.(130111-0010015) |
||||||||||||||||||||||||
|
Bank Details |
Industrial Bank of Korea Shinhan Bank Citibank, Korea-Ansan Branch |
||||||||||||||||||||||||
|
Corporate Registered No. |
130111-0026236 |
||||||||||||||||||||||||
|
Business Registered No. |
134-81-05796 |
||||||||||||||||||||||||
|
Permit & Licenses |
Int’l Trade No.: 934578 |
||||||||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||||||||
|
Company History |
09/16/1986 Incorporated as the present name 03/21/2008 Spin off the par value to 500
KRW from 5,000 KRW |
||||||||||||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
Chairman & CEO |
Mr. |
Jung Dong-Sub |
Korean |
1931.01.14 |
Kyunghee University, Korea |
|
President & CEO |
Mr. |
Jung Young-Sub |
Korean |
1948.01.02 |
Seoul National University, Korea |
|
Director |
Mr. |
Jung Sang-Moon |
Korean |
1962.11 |
- |
|
Vice President |
Mr. |
Kim Jin-Doo |
Korean |
1961.01.11 |
Korea Aerospace University, Korea |
|
Director |
Mr. |
Jung Yoo-Cheon |
Korean |
1965.01.18 |
Chungang University, Korea |
|
Director |
Mr. |
Ko Sam-Kyu |
Korean |
1952.01.25 |
Seoul National University, Korea |
|
Outside Director |
Mr. |
Jung Joo-Sub |
Korean |
1933.02.20 |
Seoul National University, Korea |
|
Outside Director |
Mr. |
Kim Soon-Jong |
Korean |
1958.05 |
- |
|
Auditor |
Mr. |
Ji Chil-Sung |
Korean |
1948.10.13 |
Korea National Open University, Korea |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
51,990,921,346 |
291,506,350,355 |
-702,837,851 |
|
|
(*)2014 |
195,608,651,248 |
299,636,101,977 |
4,717,241,188 |
|
(*)2013 |
209,220,119,998 |
275,142,410,845 |
4,318,072,273 |
|
(*)2012 |
220,631,694,709 |
273,982,720,873 |
11,784,101,046 |
|
(*)2011 |
241,909,053,516 |
269,194,222,780 |
15,235,001,440 |
|
2010 |
213,573,904,140 |
296,257,450,838 |
14,291,985,495 |
|
2009 |
158,832,543,505 |
281,814,603,793 |
11,816,198,061 |
|
2008 |
166,339,480,755 |
217,718,356,442 |
5,892,556,371 |
|
2007 |
128,025,035,492 |
195,015,407,694 |
6,279,958,233 |
|
2006 |
100,294,980,082 |
158,615,391,228 |
5,429,396,371 |
|
2005 |
94,892,293,113 |
151,397,679,531 |
6,053,656,464 |
|
Authorized Capital(KRW) |
50,000,000,000 |
|
Paid-Up Capital(KRW) |
19,845,000,000 |
|
Total Issues Shares |
39,690,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
01/01/2015~03/31/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Total
Assets |
291,506,350,355 |
299,636,101,977 |
275,142,410,845 |
|
Current
Assets |
45,645,914,028 |
43,399,740,530 |
41,706,262,851 |
|
Cash
& Cash Equivalents |
1,830,820,134 |
956,135,898 |
1,761,419,668 |
|
Trade
Receivables & Other Receivables |
28,555,691,569 |
23,820,614,217 |
23,778,255,390 |
|
Current
Financial Instruments |
673,803,801 |
412,947,510 |
1,543,545,799 |
|
Current
Non-Financial Instruments |
1,016,534,511 |
1,282,701,769 |
2,140,848,589 |
|
Inventories |
13,569,064,013 |
16,927,341,136 |
12,447,551,729 |
|
Deferred
Income Tax Assets |
0 |
0 |
34,641,676 |
|
Non-Current Assets |
245,860,436,327 |
256,236,361,447 |
233,436,147,994 |
|
Non-Current
Financial Instruments |
2,327,442,036 |
2,758,924,746 |
1,911,879,456 |
|
Marketable
Financial Instruments |
3,517,329,830 |
3,493,996,730 |
2,094,010,730 |
|
Investment_Related
Companies |
60,655,878,200 |
60,655,878,200 |
61,157,154,550 |
|
Tangibles |
154,132,190,427 |
156,476,552,559 |
135,295,155,045 |
|
Investment_Real
Estates |
22,698,702,059 |
30,384,885,074 |
30,441,489,134 |
|
Intangibles |
2,363,152,637 |
2,284,343,536 |
2,290,520,618 |
|
Other
Non-Current Assets |
165,741,138 |
181,780,602 |
245,938,461 |
|
Total Liabilities |
140,823,909,652 |
147,078,323,242 |
125,771,309,438 |
|
Current Liabilities |
83,847,246,582 |
89,066,279,991 |
73,962,659,678 |
|
Trade
Payables & Other Payables |
8,746,231,591 |
8,848,261,628 |
7,487,184,450 |
|
Short-Term
Borrowings |
48,825,604,182 |
55,529,387,936 |
48,600,000,000 |
|
Current
Portion of Long-Term Debts |
20,234,200,000 |
20,202,700,000 |
12,971,720,000 |
|
Other
Current Financial Debts |
4,487,106,504 |
3,633,593,760 |
3,584,012,168 |
|
Other
Current Liabilities |
977,640,593 |
166,266,636 |
1,319,743,060 |
|
Deferred
Income Tax Credit |
576,463,712 |
686,070,031 |
0 |
|
Non-Current Liabilities |
56,976,663,070 |
58,012,043,251 |
51,808,649,760 |
|
Long-Term
Borrowings |
46,303,300,000 |
47,093,800,000 |
40,175,500,000 |
|
Other
Non-Current Financial Debts |
681,000,000 |
901,000,000 |
1,401,000,000 |
|
Confirmed
Salaries |
6,636,747,828 |
6,490,184,488 |
6,333,857,189 |
|
Deferred
Income Tax Credit |
3,355,615,242 |
3,527,058,763 |
3,898,292,571 |
|
Capital Stock |
19,845,000,000 |
19,845,000,000 |
19,845,000,000 |
|
Capital
Surplus |
16,471,230,652 |
16,471,230,652 |
16,471,230,652 |
|
Others |
-215,808,501 |
-234,008,320 |
0 |
|
Profit
Surplus |
114,582,018,552 |
116,475,556,403 |
113,054,870,755 |
|
Total
Equity |
150,682,440,703 |
152,557,778,735 |
149,371,101,407 |
|
Liab.
& Shareholder’s Equity |
291,506,350,355 |
299,636,101,977 |
275,142,410,845 |
|
Income Statement |
|||
|
Unit : Korean Won |
01/01/2015~03/31/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Sales |
51,990,921,346 |
195,608,651,248 |
209,220,119,998 |
|
Cost of Sold Goods |
49,731,539,769 |
171,786,085,069 |
186,061,351,749 |
|
Gross Profit |
2,259,381,577 |
23,822,566,179 |
23,158,768,249 |
|
Selling & Admin. Expenses |
4,158,393,755 |
15,467,149,880 |
15,995,110,370 |
|
Operating Income |
-1,899,012,178 |
8,355,416,299 |
7,163,657,879 |
|
Other Income |
2,166,542,091 |
1,875,959,685 |
2,020,543,698 |
|
Other Expenses |
20,558,525 |
1,033,364,962 |
509,266,527 |
|
Finance Income |
48,298,925 |
202,179,772 |
274,427,522 |
|
Finance Expenses |
993,993,271 |
3,934,892,644 |
3,973,832,474 |
|
Profits from investment |
0 |
-91,130,390 |
0 |
|
Income Before Taxes |
-698,722,958 |
5,374,167,760 |
4,975,530,098 |
|
Income Taxes Expenses |
4,114,893 |
656,926,572 |
657,457,825 |
|
Net Income |
-702,837,851 |
4,717,241,188 |
4,318,072,273 |
|
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 |
1,696,582,183 |
19,580,543,544 |
19,223,079,636 |
|
Net Income |
-702,837,851 |
4,717,241,188 |
4,318,072,273 |
|
Adjustment |
3,623,275,950 |
20,833,868,297 |
20,471,293,838 |
|
Changes in Asset/ & Liability |
-962,678,257 |
-5,971,154,476 |
-3,162,863,585 |
|
Interests Received |
29,120,355 |
156,205,093 |
209,285,796 |
|
Income Taxes |
-290,298,014 |
-155,616,558 |
-2,612,708,686 |
|
Cash Flows from Investing |
7,857,661,664 |
-36,159,521,577 |
-17,390,397,801 |
|
Cash Flows from Financing |
-8,679,216,908 |
15,776,911,352 |
-2,148,146,307 |
|
Increase/Decrease in Cash |
875,026,939 |
-802,066,681 |
-315,464,472 |
|
Cash at the Beginning of Year |
956,135,898 |
1,761,419,668 |
2,085,282,860 |
|
Cash at the End of Year |
1,830,820,134 |
956,135,898 |
1,761,419,668 |
|
Main Products & Services |
Corrugate Medium Paper, Taste Linner Paper, Two Sides Paper Brand Name : CK |
||||||||||||||||
|
Production Capacity (Unit : Ton) |
|
||||||||||||||||
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
|
|
Competitors |
SHINDAEYANG PAPER CO., LTD.(130111-0008789) ASIA PAPER MANUFACTURING CO.,
LTD.(110111-0006274) ASIA PAPERTEC INC.(134111-0000939) |
|
Affiliates |
TAILIM PACKAGING IND. CO.,
LTD.(130111-0010015) (9.89% held by the subject company) TAESUNG INDUSTRIAL CO.,
LTD.(175111-0000229) (25.00% held by the subject company) KORENSO KOREA CO., LTD.(135511-0158234) (15.33% held by the subject company) DONG-GWANG PANJI CO., LTD.(135511-0184958) (25.00% held by the subject company) J. TAUSEND INC.(110111-2767626) (25.00% held by the subject company) AP TECHNOLOGY CO., LTD.(135811-0075747) (31.83% held by the subject company) DONGIL PACKAGE CO., LTD.(131411-0169071) (49.00% held by the subject company) |
|
Overseas Office |
|
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
|
|
Subsidiary |
WALLSAN CO., LTD.(135011-0054557) (50.06% held by the subject company) |
|
Corporate Ownership |
|
|
Major Shareholders |
|
|
Cooperative Enterprise |
-Insured company HANWHA GENERAL INSURANCE CO., LTD.(110111-0006456) SAMSUNG FIRE & MARINE INSURANCE CO., LTD.(110111-0005078) |
|
Sales/ Unit :Thousand KRW |
09/2010 |
2009 |
2008 |
|
Export |
2,533,612 |
9,851,726 |
4,610,533 |
|
Domestic |
155,035,008 |
148,980,817 |
161,728,947 |
|
Total |
157,568,620 |
158,832,543 |
166,339,480 |
No.
-------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.61 |
|
|
1 |
Rs.99.79 |
|
Euro |
1 |
Rs.71.17 |
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.