|
Report No. : |
342442 |
|
Report Date : |
24.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
SAM DONG CO., LTD. |
|
|
|
|
Registered Office : |
816-41, Samyang-Ro, Daeso-Myeon, Eumseong-Gun, Chungcheongbuk-Do, Korea 27673 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
15.11.1990 |
|
|
|
|
Com. Reg. No.: |
303-81-06751 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Manufacture of Other Insulated Wire and Cable. (Copper Wire) |
|
|
|
|
No. of Employees : |
509 |
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 |
SAM DONG CO.,
LTD. |
|
Registered Address |
816-41, Samyang-Ro, Daeso-myeon,
Eumseong-gun, Chungcheongbuk-do, Korea |
|
Zip Code |
27673 |
|
Tel |
+82-43-879-4000 |
|
Fax |
+82-43-879-4100 |
|
E-mail |
scorpions93@samdongkorea.com |
|
Website |
www.samdongkorea.com |
|
|
|
|
Trading Address |
816-41, Samyang-ro, Daeso-myeon,
Eumseong-gun, Chungcheongbuk-do, Korea (Old Address System : San 39, Samho-ri,
Daeso-myeon, Eumseong-gun, Chungcheongbuk-do, Korea) |
|
Tel |
+82-43-879-4000 |
|
Fax |
+82-43-879-4100 |
|
|
|
|
Other Address-Mungyeong Factory |
133, Maseonggongdan-gil, Maseong-myeon, Mungyeong-si,
Gyeongsangbuk-do, Korea (Old Address System : 884, Ocheon-ri,
Maseong-myeon, Mungyeong-si, Gyeongsangbuk-do, Korea) |
|
Tel |
+82-54-550-3100 |
|
Fax |
+82-54-571-4115 |
|
|
|
|
Type |
Export/Import |
|
Industry |
Manufacture of Other Insulated Wire and Cable |
|
Main Business |
Copper Wire |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
11/15/1990 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Copper wire(26121517) |
|
Sell |
Electrical wire(26121500) |
|
Sell |
Copper(11101715) |
|
Name |
Lee Ee-Joo |
|
Address |
Suite 13-1303, 41, Dongnam-ro 71-gil,
Gangdong-gu, Seoul, Korea |
|
Date of Birth |
03/27/1951 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
5,117,350,000 |
|||||||||||||||||||||
|
Employees |
509 |
|||||||||||||||||||||
|
Formation |
Co., Ltd by shares |
|||||||||||||||||||||
|
Bank Details |
Korea Development Bank-Cheongju Branch KEB Hana Bank Woori Bank |
|||||||||||||||||||||
|
Corporate Registered No. |
131111-0012193 |
|||||||||||||||||||||
|
Business Registered No. |
303-81-06751 |
|||||||||||||||||||||
|
Permit & Licenses |
06/1997 KS Mark 09/2002 ISO 9001 Int’l Trade No.: 590118 |
|||||||||||||||||||||
|
Shareholder Positon |
|
|||||||||||||||||||||
|
Company History |
12/19/2008 Increased capital to
5,117,350,000 KRW from 4,967,350,000 KRW 11/2008 Won the prize of 0.2 billion dollar
export tower for commemorating the 45th Trade Day 11/2008 Won the prize of Winners of the Tin
Tower for commemorating the 45th Trade Day 03/2008 Won the prize of Prime Minister for
Strategy and Finance 12/13/2007 Increased the authorized shares
to 1,000,000 shares from 700,000 shares 09/2007 Founded factory in USA 11/2006 Won the prize of 0.1 billion dollar
export tower for commemorating the 43rd Trade Day 08/2005 Appointed as specialized part and
material company(Ministry of Commerce, Industry and Energy) 11/2004 Won the prize of 70 million dollar
export tower for commemorating the 41st Trade Day 11/2003 Won the certificate of commendation
from president 10/2002 Certified as promising
company(Korea Development Bank) 09/2002 Achieved ISO 9001 Certificate 11/2001 Won the prize of 30 million dollar
export tower for commemorating the 38th Trade Day 11/2001 Appointed as superior technology
company(KIBO Technology Fund) 04/2000 Appointed as export insurance
nurturing company(Korea Export Insurance Company) 10/1999 Founded Mungyeong
Factory(Mungyeong, Gyeongsangbuk-do) 07/1998 98.Appointed as superior export
product(continuous transposed conductors) by Korea International Trade
Association 08/1998 Registered as venture company(Small
and Medium Business Association) 06/1997 Acquired KS Certificate 11/1995 Won the prize of 10 million dollar
export tower for commemorating the 32nd Trade Day 05/1994 Completed development of high
conductivity, oxygen free copper 11/1993 Won the prize of 0.5 million dollar
export tower for commemorating the 30th Trade Day 11/1993 Won the prize of Prime Minister for
commemorating the 30th Trade Day 03/1993 Completed development of
C.T.C(continuously transposed conductors) 12/1992 Appointed as promising
company(Korea Credit Guarantee Fund) 04/1992 Moved headquarter and
factory(Eumseong-gun, Chungcheonguk-do) 11/15/1990 Incorporated as Sam Dong Co.,
Ltd. |
|||||||||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lee Ee-Joo |
Male |
Korean |
02/07/2006 |
|
Director |
Mr. |
Jeong Jin-Bok |
Male |
Korean |
02/07/2006 |
|
Director |
Mr. |
Kim Chung-Woon |
Male |
Korean |
03/31/2012 |
|
Director |
Mr. |
Chung Byung-Wook |
Male |
Korean |
03/31/2015 |
|
Auditor |
Mr. |
Kim Sung-Kyu |
Male |
Korean |
03/28/2000 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
713,296,004,633 |
260,403,911,210 |
95,422,140 |
|
|
2013 |
714,526,509,712 |
269,534,997,002 |
-10,455,434,898 |
|
2012 |
829,884,064,136 |
301,190,945,651 |
358,021,034 |
|
2011 |
1,063,891,079,033 |
264,478,965,157 |
4,282,093,852 |
|
2010 |
899,623,334,137 |
244,547,833,041 |
21,458,796,579 |
|
2009 |
619,672,729,870 |
187,734,039,789 |
20,013,977,627 |
|
2008 |
622,146,981,552 |
141,070,013,464 |
10,769,596,170 |
|
2007 |
380,114,680,394 |
90,744,638,449 |
8,837,288,460 |
|
2006 |
274,949,827,496 |
69,356,465,697 |
4,252,053,340 |
|
2005 |
259,042,338,683 |
66,383,406,013 |
-1,061,234,522 |
|
2004 |
276,611,326,734 |
75,256,214,900 |
-3,842,871,671 |
Financial
Description
|
Authorized Capital(KRW) |
10,000,000,000 |
|
Paid-Up Capital(KRW) |
5,117,350,000 |
|
Total Issues Shares |
511,735 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total Assets |
260,403,911,210 |
269,534,997,002 |
301,190,945,651 |
|
Current Assets |
181,895,648,790 |
178,514,197,959 |
204,303,465,797 |
|
-Quick Assets |
121,604,375,598 |
121,654,766,626 |
139,503,183,634 |
|
-Inventories |
60,291,273,192 |
56,859,431,333 |
64,800,282,163 |
|
Fixed Assets |
78,508,262,420 |
91,020,799,043 |
96,887,479,854 |
|
-Investment |
28,624,122,375 |
35,880,257,670 |
36,279,868,076 |
|
-Tangibles |
47,971,011,519 |
52,630,193,396 |
58,744,338,678 |
|
-Intangibles |
46,096,543 |
57,139,376 |
56,382,209 |
|
-Others |
1,867,031,983 |
2,453,208,601 |
1,806,890,891 |
|
Total Liabilities |
196,881,363,165 |
207,238,920,895 |
228,167,006,743 |
|
Current Liabilities |
173,524,040,375 |
177,585,676,586 |
204,077,934,821 |
|
Fixed Liabilities |
23,357,322,790 |
29,653,244,309 |
24,089,071,922 |
|
Capital Stock |
5,117,350,000 |
5,117,350,000 |
5,117,350,000 |
|
Capital Surplus |
1,831,785,005 |
1,831,785,005 |
1,831,785,005 |
|
Profit Surplus |
61,020,039,345 |
60,924,617,205 |
71,380,052,103 |
|
Capital Adjustment |
-4,446,626,305 |
-5,577,676,103 |
-5,305,248,200 |
|
Total Equity |
63,522,548,045 |
62,296,076,107 |
73,023,938,908 |
|
Liab. & Shareholder’s Equity |
260,403,911,210 |
269,534,997,002 |
301,190,945,651 |
|
Current Liabilities |
173,524,040,375 |
177,585,676,586 |
204,077,934,821 |
|
Trade Payables |
16,523,940,115 |
17,513,988,919 |
12,825,246,799 |
|
Short-Term Borrowings |
141,467,000,000 |
149,021,814,720 |
155,221,269,410 |
|
Other Payables |
6,228,523,331 |
5,450,253,708 |
6,125,732,148 |
|
Accrued Income Tax |
954,262,413 |
- |
90,396,296 |
|
Current Portion of Long-Term Debts |
5,064,097,280 |
2,404,181,040 |
14,192,932,700 |
|
Current Portion of Long-Term Debentures |
|
|
10,000,000,000 |
|
Other Current Liabilities |
3,286,217,236 |
3,195,438,199 |
5,622,357,468 |
|
Fixed Liabilities |
23,357,322,790 |
29,653,244,309 |
24,089,071,922 |
|
Long-Term Borrowings |
14,864,800,000 |
21,577,090,520 |
16,101,363,500 |
|
Convertible Bonds |
1,904,062,685 |
1,765,605,468 |
1,641,045,409 |
|
Provision for Severance & Retirement |
6,588,460,105 |
6,310,548,321 |
6,346,663,013 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
713,296,004,633 |
714,526,509,712 |
829,884,064,136 |
|
Cost of Sold Goods |
692,837,654,405 |
703,089,329,419 |
804,434,694,933 |
|
Gross Profit |
20,458,350,228 |
11,437,180,293 |
25,449,369,203 |
|
Selling & Admin. Expenses |
7,718,502,285 |
8,132,530,671 |
9,631,191,669 |
|
Operating Income |
12,739,847,943 |
3,304,649,622 |
15,818,177,534 |
|
Non-Operating Income |
11,138,506,557 |
8,152,709,809 |
7,971,038,032 |
|
Non-Operating Expenses |
21,311,808,736 |
22,607,567,998 |
22,590,890,225 |
|
Income Before Taxes |
2,566,545,764 |
-11,150,208,567 |
1,198,325,341 |
|
Income Taxes Expenses |
2,471,123,624 |
-694,773,669 |
840,304,307 |
|
Net Income |
95,422,140 |
-10,455,434,898 |
358,021,034 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Cash Flows from Operating |
14,642,983,092 |
33,199,097,289 |
-5,936,446,374 |
|
-Net Income |
95,422,140 |
-10,455,434,898 |
358,021,034 |
|
-Exp. without Cash Outflow |
20,209,702,310 |
19,992,880,685 |
21,503,066,801 |
|
-Revenue without Cash Inflows |
-4,683,721,974 |
-1,745,507,853 |
-2,185,718,794 |
|
-Changes in Asset/ & Liability |
-978,419,384 |
25,407,159,355 |
-25,611,815,415 |
|
Cash Flows from Investing |
-4,355,378,070 |
-12,102,987,602 |
-29,833,655,906 |
|
-Cash Inflow from Investing |
1,875,927,094 |
3,835,111,277 |
4,145,006,064 |
|
-Cash Outflows for Investing |
-6,231,305,164 |
-15,938,098,879 |
-33,978,661,970 |
|
Cash Flows from Financing |
-11,854,395,760 |
-22,372,573,170 |
36,983,902,015 |
|
-Cash Inflows from Financing |
- |
7,900,214,220 |
50,549,080,166 |
|
-Cash Outflows from Financing |
-11,854,395,760 |
-30,272,787,390 |
-13,565,178,151 |
|
Increase/Decrease in Cash |
1,566,790,738 |
1,276,463,483 |
1,213,799,735 |
|
Cash at the Beginning of Year |
18,695,433,718 |
19,971,897,201 |
18,758,097,466 |
|
Cash at the End of Year |
17,128,642,980 |
18,695,433,718 |
19,971,897,201 |
|
Main Products & Services |
OFHC Enamel Reck Wire PCW Special Lapping Wire CTC Magnet Round Wire Reels Spools |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
CTI CO., LTD.(KOREA) |
|
Customers |
HYOSUNG CORPORATION(110111-0030497) KUKDONG POWER SOURCE CO., LTD.(154511-0003212) SAM DONG, INC. |
|
Competitors |
DAECHANG INDUSTRIAL CO., LTD. 4NA-506, SIHWA INDUSTRIAL COMPLEX, 1292-4,
JEONGWANG 1-DONG, SIHEUNG-SI, GYEONGGI-DO, KOREA TEL:+82-31-496-3000 FAX:+82-31-499-2538 TCT CORPORATION 1080, HWASAN-RI, ONSAN-EUP, ULJU-GUN,
ULSAN, KOREA TEL:+82-52-239-7001 FAX:+82-52-239-4235 PRIME GLOBAL CORPORATION RM. 301, BOKAP-DONG, DAEWOO BLDG., 167,
NAESU-DONG, JONGNO-GU, SEOUL, KOREA TEL:+82-2-725-7234 FAX:+82-2-722-4235 |
|
Affiliates |
KUKDONG POWER SOURCE CO., LTD.(154511-0003212) CTI CO., LTD.(KOREA) |
|
Overseas Office |
SAM DONG, INC(TENNESSSEE FACTORY) (100.0% held by the subject company) 300 INDUSTRIAL PARK ROAD ROGERSVILLE
TENNESSEE 37857 USA TEL:+1-423-921-7373~4 FAX:+1-423-921-7446 SAM DONG OHIO, INC.(OHIO FACTORY) (100.0% held by the subject company) 801, PITTSBURGH DRIVE, DELAWARE, OHIO 43015
USA TEL:+1-740-363-1985 FAX:+1-740-363-8947 |
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
|
|
Subsidiary |
SAM DONG, INC(TENNESSSEE FACTORY) (100.0% held by the subject company) 300 INDUSTRIAL PARK ROAD ROGERSVILLE
TENNESSEE 37857 USA TEL:+1-423-921-7373~4 FAX:+1-423-921-7446 SAM DONG OHIO, INC.(OHIO FACTORY) (100.0% held by the subject company) 801, PITTSBURGH DRIVE, DELAWARE, OHIO 43015
USA TEL:+1-740-363-1985 FAX:+1-740-363-8947 SAM DONG GEORGIA, INC. (100.0% held by the subject company) |
|
Corporate Ownership |
|
|
Major Shareholders |
|
|
Cooperative Enterprise |
-Insured Company HANWHA GENERAL INSURANCE CO., LTD.(110111-0006456) |
|
Sales/ Unit : KRW |
2009 |
2008 |
2007 |
|
Export |
286,546,877,454 |
298,889,555,777 |
201,370,517,092 |
|
Domestic |
333,125,852,416 |
323,257,425,775 |
178,744,163,302 |
|
Total |
619,672,729,870 |
622,146,981,552 |
380,114,680,394 |
The Subject deals
with the companies in Germany and Japan. It exports to USA.
No.
---------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.97 |
|
|
1 |
Rs.101.19 |
|
Euro |
1 |
Rs.73.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
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.