|
Report No. : |
323355 |
|
Report Date : |
21.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
DONGBANG TEXTILE AND MART CO., LTD. |
|
|
|
|
Registered Office : |
182, 5sandan-ro, Susin-myeon, Dongnam-gu, Cheonan-si, Chungcheongnam-do,
Korea |
|
|
|
|
Country : |
South
Korea |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
14.02.1973 |
|
|
|
|
Com. Reg. No.: |
312-81-00765 |
|
|
|
|
Legal Form : |
Company Limited By Shares |
|
|
|
|
Line of Business : |
Subject is engaged in Cotton of Spinning |
|
|
|
|
No. of Employees : |
29 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 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 |
DONGBANG TEXTILE AND MART CO., LTD. (Korean Company Name : “(주)동방생활산업”) |
|
Registered Address |
182, 5sandan-ro, Susin-myeon, Dongnam-gu, Cheonan-si,
Chungcheongnam-do, Korea (Old Address System : 168-1, Sinpung-ri, Susin-myeon, Dongnam-gu,
Cheonan-si, Chungcheongnam-do, Korea) |
|
Building |
|
|
Zip Code |
330-882 |
|
Tel |
+82-41-620-2500 |
|
Fax |
+82-41-620-2520 |
|
E-mail |
hej7435@dongbangtextile.com |
|
Website |
www.dongbangtextile.com |
|
Trading Address |
6FL., Hanlim Bldg., 336, Dongho-ro, Jung-gu, Seoul, Korea (Old Address System : 6FL., Hanlim Bldg., 146-7, Ssangnim-dong, Jung-gu,
Seoul, Korea) |
|
Tel |
+82-2-2190-8200 +82-2-2190-8224 |
|
Fax |
+82-2-2190-8239 |
|
Other Address |
118, Namdaemunno 2-ga, Jung-gu, Seoul,
Korea |
|
Tel |
|
|
Fax |
|
|
Type |
Export/Import |
|
Industry |
Cotton of Spinning |
|
Main Business |
Combed Cotton Yarn, Melange, Acryl, Polyester Fabrics, Cotton Fabrics |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
02/14/1973 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Threads(11151600) |
|
Sell |
Synthetic yarn(11151709) |
|
Sell |
Cotton thread(11151601) |
|
Sell |
Synthetic fabrics(11161800) |
|
Sell |
Cotton fabrics(11161700) |
|
Buy |
Cotton(11121802) |
|
Name |
Kim Kye-Hwan |
|
Address |
Suite 6-501, 265, Seombat-ro, Nowon-gu,
Seoul, Korea |
|
Date of Birth |
11/30/1961 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
18,977,910,000 |
||||||||||||||||||
|
Employees |
29 |
||||||||||||||||||
|
Formation |
Co., Ltd by Shares A Company of Dongbang Group |
||||||||||||||||||
|
Bank Details |
Industrial Bank of Korea Nonghyup Bank Woori Bank Hana Bank |
||||||||||||||||||
|
Corporate Registered No. |
164811-0000244 |
||||||||||||||||||
|
Business Registered No. |
312-81-00765 |
||||||||||||||||||
|
Permit & Licenses |
01/2007 ISO 14001 01/2006 ISO 9001 Int’l Trade No.: 760364 |
||||||||||||||||||
|
Shareholder Position |
(*)The list is based as of 12/31/2014. |
||||||||||||||||||
|
Company History |
02/14/1973 Incorporated as Kukje Textile
Co., Ltd. 01/1993 Changed company name to Dongbang
Textile Co.l, Ltd. 05/1997 Changed company name to Dongbang
T&C CO., Ltd. 03/2000 Changed company name to the present
name 03/31/2005 Moved to the present HQ address
from 515, Jangjae-ri, Baebang-eup, Asan-si, Chungcheongnam-do, Korea 02/25/2009 Designated as a Venture Business 03/28/2015 Increased capital to
18,977,910,000 KRW from 12,077,910,000 KRW |
||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Kim Kye-Hwan |
Male |
Korean |
03/26/2014 |
|
Director |
Mr. |
Lee Dal-Keun |
Male |
Korean |
03/24/2005 |
|
Director |
Mr. |
Kim Hyung-Kon |
Male |
Korean |
03/24/2006 |
|
Director |
Mr. |
Cho Byung-Sun |
Male |
Korean |
03/25/2015 |
|
Auditor |
Mr. |
Lee Jung-Hern |
Male |
Korean |
03/26/2014 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2014 |
74,760,310,345 |
69,423,044,451 |
-3,341,247,835 |
|
2013 |
84,259,953,968 |
68,452,756,168 |
2,697,302,167 |
|
2012 |
91,004,527,993 |
92,070,237,677 |
-240,703,827 |
|
2011 |
105,582,282,666 |
83,095,285,596 |
1,369,523,871 |
|
2010 |
100,194,462,390 |
70,251,303,920 |
1,816,804,136 |
|
Authorized Capital(KRW) |
40,000,000,000 |
|
Paid-Up Capital(KRW) |
18,977,910,000 |
|
Total Issued Shares |
3,795,582 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total
Assets |
69,423,044,451 |
68,452,756,168 |
92,070,237,677 |
|
Current Assets |
51,992,532,050 |
50,253,820,583 |
52,140,877,452 |
|
Cash
& Cash Equivalents |
222,619,948 |
2,064,184,151 |
1,251,430,903 |
|
Current
Financial Instruments |
380,000,000 |
1,730,000,000 |
990,000,000 |
|
Trade
Receivables |
22,134,498,661 |
15,018,146,245 |
17,601,060,580 |
|
Other
Receivables |
1,396,915,468 |
2,565,748,078 |
3,817,053,866 |
|
Short-Term
Receivables |
- |
7,600,000 |
13,100,000 |
|
Unearned Income |
19,601,303 |
42,778,481 |
39,300,120 |
|
Inventories |
25,519,929,757 |
27,938,239,870 |
27,310,684,774 |
|
Other
Current Assets |
2,318,966,913 |
887,123,758 |
1,118,247,209 |
|
Non-Current Assets |
17,430,512,401 |
18,198,935,585 |
39,929,360,225 |
|
Non-Current
Financial Instruments |
76,000,000 |
236,000,000 |
656,000,000 |
|
Marketable
Financial Instruments |
977,622,046 |
1,144,417,246 |
1,386,643,596 |
|
Investment_Real
Estates |
9,890,984,366 |
9,890,984,366 |
30,465,121,581 |
|
Tangibles |
4,973,929,896 |
5,420,103,196 |
6,029,174,076 |
|
Deferred
Income Tax Assets |
983,151,519 |
979,337,203 |
890,341,398 |
|
Other
Non-Current Assets |
528,824,574 |
528,093,574 |
502,079,574 |
|
Total Liabilities |
68,053,116,634 |
63,654,588,661 |
88,353,676,112 |
|
Current Liabilities |
65,239,141,757 |
54,993,805,442 |
78,018,208,434 |
|
Trade
Payables |
2,814,785,209 |
2,195,336,409 |
2,941,509,915 |
|
Short-Term
Borrowings |
54,701,773,614 |
49,255,839,087 |
70,558,222,554 |
|
Account
Payables |
1,381,649,442 |
1,483,899,438 |
1,973,281,999 |
|
Advance
Receipts |
96,647,166 |
71,015,212 |
69,773,437 |
|
Accrued
Expenses |
156,928,001 |
327,414,486 |
297,358,414 |
|
Current
Portion of Long-Term Debts |
5,724,058,998 |
1,375,160,976 |
1,892,149,660 |
|
Other
Current Liabilities |
363,299,327 |
285,139,834 |
285,912,455 |
|
Non-Current Liabilities |
2,813,974,877 |
8,660,783,219 |
10,335,467,678 |
|
Debentures |
- |
4,490,411,025 |
4,485,346,553 |
|
Long-Term
Borrowings |
1,833,333,340 |
2,328,073,290 |
3,014,054,120 |
|
Finance Lease Debts |
901,012,478 |
1,634,510,294 |
2,323,690,440 |
|
Provision
for Severance & Retirement |
79,629,059 |
207,788,610 |
512,376,565 |
|
Capital Stock |
12,077,910,000 |
12,077,910,000 |
12,077,910,000 |
|
Profit
Surplus |
-11,039,417,398 |
-7,635,977,964 |
-10,177,408,224 |
|
Total
Equity |
1,369,927,817 |
4,798,167,507 |
3,716,561,565 |
|
Liab.
& Shareholder’s Equity |
69,423,044,451 |
68,452,756,168 |
92,070,237,677 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
74,760,310,345 |
84,259,953,968 |
91,004,527,993 |
|
Cost
of Sold Goods |
74,496,794,524 |
79,251,494,027 |
82,138,499,267 |
|
Gross
Profit |
263,515,821 |
5,008,459,941 |
8,866,028,726 |
|
Selling
& Admin. Expenses |
3,883,842,189 |
3,311,535,697 |
3,591,644,369 |
|
Operating
Income |
-3,620,326,368 |
1,696,924,244 |
5,274,384,357 |
|
Finance
Income |
1,782,194,468 |
1,164,889,590 |
1,855,095,594 |
|
Finance
Expenses |
5,242,589,935 |
5,865,744,182 |
6,735,620,826 |
|
Profits
from Investment on Related Companies |
-125,613,170 |
10,984,140,609 |
3,032,850 |
|
Other
Income |
4,007,371,232 |
24,697,129 |
64,537,248 |
|
Other
Expenses |
121,562,214 |
4,940,891,836 |
874,922,844 |
|
Income
Before Taxes |
-3,320,525,987 |
3,064,015,554 |
-413,493,621 |
|
Income
Taxes Expenses |
20,721,848 |
366,713,387 |
-172,789,794 |
|
Net
Income |
-3,341,247,835 |
2,697,302,167 |
-240,703,827 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Operating Activities Cash Flows |
-6,930,576,256 |
-5,645,949,554 |
-12,187,893,416 |
|
Cash
Flows from Operating |
-3,301,183,478 |
-1,584,490,928 |
-7,239,006,104 |
|
Net
Income |
-3,341,247,835 |
2,697,302,167 |
-240,703,827 |
|
Adjustment |
4,970,674,123 |
-1,140,441,181 |
5,845,274,593 |
|
Changes
in Asset/ & Liability |
-4,930,609,766 |
-3,141,351,914 |
-12,843,576,870 |
|
Interests
Received |
91,019,134 |
79,961,316 |
122,922,976 |
|
Interests
Paid |
-3,726,354,482 |
-4,162,259,701 |
-5,060,839,169 |
|
Dividends
Received |
9,386,830 |
10,802,049 |
3,032,850 |
|
Income
Taxes |
-3,444,260 |
10,037,710 |
-14,003,969 |
|
Cash
Flows from Investing |
1,430,046,254 |
29,556,222,471 |
4,584,836,356 |
|
Cash
Flows from Financing |
3,658,498,729 |
-23,097,495,811 |
8,189,600,580 |
|
Increase/Decrease
in Cash |
-1,842,031,273 |
812,777,106 |
586,543,520 |
|
Cash
at the Beginning of Year |
2,064,184,151 |
1,251,430,903 |
665,129,457 |
|
Cash
at the End of Year |
222,619,948 |
2,064,184,151 |
1,251,430,903 |
|
Main Products & Services |
Combed Cotton Yarn, Melange, Acryl, Polyester Fabrics, Cotton Fabrics |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
TRENDY YARN CORPORATION 5215 S. BOYLE AVE.,VERNON, CA 90058 USA |
|
Competitors |
CHONBANG CO., LTD. 12~13TH FI., CHUNGJEONG TOWER BLDG., 464, CHUNGJEONGNO
3-GA, SEODAEMUN-GU, SEOUL, KOREA TEL:+82-2-2122-6000 FAX:+82-2-392-3923 DONGIL CORPORATION(110111-0019219) 8TH FL., JEONG-HEON BLDG., 944-1, DAECHI
3-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-2222-3071 FAX:+82-2-2222-3280 ILSHIN SPINNING CO.,LTD(110111-0041717) ILSHIN BLDG., 15-15, YEOUIDO-DONG,
YEONGDEUNGPO-GU, SEOUL, KOREA TEL:+82-2-3774-0114 FAX:+82-2-786-5891~3 |
|
Affiliates |
DONGBANG TRANSPORT LOGISTICS CO.,
LTD.(110111-0124521) DONGBANK METAL INDUSTRY CO., LTD.(174611-0006301) DONGBANG SYSTEM
CO., LTD.(110111-0609698) DONGBANG LOGISTICS CENTER CO.,
LTD.(180111-0589359) DONGBANG
KWANGYANG LOGISTICS CO., LTD.(204611-0025685) DONGBANG CONTAINER TERMINAL CO., LTD.(230111-0155860) D&C CENTER
CO., LTD.(KOREA) U&CT CO.,
LTD.(110111-2770851) KWANGYANG SHIP
CO., LTD.(204611-0000497) ILLJO KUKJE FERRY CO., LTD.(131311-0101827) YANGSAN ICD CO., LTD.(184511-0008703) PYUNGTAIK PORT CO., LTD.( 131311-0026984) INCEHON PORT 2 OPERATION CO., LTD.(120111-0191776) MASAN PORT 2 OPERATION CO., LTD.(190111-0035433) DAEIN FERRY CO., LTD.(110111-1130923) PYUNGTAIK PORT CAR FERRY FREIGHT TERMINAL CO., LTD.(131311-0062079) ULSAN PORT 67 OPERATION CO., LTD.(230111-0057800) YEOMPO PORT OPERATION CO., LTD.(230111-0174365) DAESAN PORT OPERATION CO., LTD.(161411-0025756) POHANG YEONGILMAN PORT OPERATING CO., LTD.(171711-0095636) DAIRYMEN DONGBANG HYUNDAI TRANSPORT LOGISTICS
CO., LTD.(CHINA) DONGBANG LOGISTICS VINA SHIMYANG DONGBANG TEXTILE CO., LTD.(CHINA) (22.02% held by the subject company) |
|
Overseas Office |
|
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
|
|
Subsidiary |
|
|
Corporate Ownership |
DONGBANG TRANSPORT LOGISTICS CO.,
LTD.(110111-0124521) |
|
Major Shareholders |
DONGBANG TRANSPORT LOGISTICS CO.,
LTD.(110111-0124521) |
|
Cooperative Enterprise |
-Insured Company DONGBU INSURANCE CO.,LTD.(110111-0095285) |
The Subject deals with
the companies in Russia, USA, Australia, India, Japan, China and Pakistan.
No.
-----
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.87 |
|
|
1 |
Rs.98.89 |
|
Euro |
1 |
Rs.70.73 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.