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MIRA
INFORM REPORT
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Report No. : |
491570 |
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Report Date : |
10.02.2018 |
IDENTIFICATION DETAILS
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Name : |
POSCO DAEWOO CORPORATION |
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Formerly Known As : |
·
DAEWOO INTERNATIONAL CORPORATION ·
DAEWOO INDUSTRIAL CO., LTD |
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Registered Office : |
10, Tongil-ro, Jung-gu, Seoul, Korea, 13th
Fl., Yonsei Severance Bldg., 04527 |
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Country : |
South Korea |
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Financials (as on) : |
30.09.2017 |
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Date of Incorporation : |
27.12.2000 |
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Com. Reg. No.: |
104-81-58195 |
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Legal Form : |
Listed Company |
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Line of Business : |
·
Export/Import and Wholesale of Non-Specialized
Goods, Cold Rolled Product, Auto-Component, Impassioned Performance Product,
Synthetic Resin ·
Sale of Motor Vehicle Upholstery, Parts and
Accessories |
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No. of Employees : |
1,897 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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South Korea |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
SOUTH KOREA - ECONOMIC OVERVIEW
After emerging from the 1950-53 war with North Korea, South Korea emerged as one of the 20th century’s most remarkable economic success stories, becoming a developed, globally connected, high-technology society within decades. In the 1960s, GDP per capita was comparable with levels in the poorest countries in the world. In 2004, South Korea joined the trillion-dollar club of world economies.
Beginning in the 1960s under President PARK Chung-hee, the government promoted the import of raw materials and technology, encouraged saving and investment over consumption, kept wages low, and directed resources to export-oriented industries that remain important to the economy to this day. Growth surged under these policies, and frequently reached double-digits in the 1960s and 1970s. Growth gradually moderated in the 1990s as the economy matured, but remained strong enough to propel South Korea into the ranks of the advanced economies of the OECD by 1997. These policies also led to the emergence of family-owned chaebol conglomerates such as Daewoo, Hyundai, and Samsung, which retained their dominant positions even as the government loosened its grip on the economy amid the political changes of the 1980s and 1990s.
The Asian financial crisis of 1997-98 hit South Korea’s companies hard because of their excessive reliance on short-term borrowing, and GDP ultimately plunged by 7% in 1998. South Korea tackled difficult economic reforms following the crisis, including restructuring some chaebols, increasing labor market flexibility, and opening up to more foreign investment and imports. These steps lead to a relatively rapid economic recovery. South Korea also began expanding its network of free trade agreements to help bolster exports, and has since implemented 16 free trade agreements covering 58 countries—including the United State and China—that collectively cover more than three-quarters of global GDP.
In 2017, the election of President MOON Jae-in brought a surge in consumer confidence, in part, because of his successful efforts to increase wages and government spending. These factors combined with an uptick in export growth to drive real GDP growth to more than 3%, despite disruptions in South Korea’s trade with China over the deployment of a US missile defense system in South Korea.
In 2018 and beyond, South Korea will contend with gradually slowing economic growth - in the 2-3% range - not uncommon for advanced economies. This could be partially offset by efforts to address challenges arising from its rapidly aging population, inflexible labor market, continued dominance of the chaebols, and heavy reliance on exports rather than domestic consumption. Socioeconomic problems also persist, and include rising inequality, poverty among the elderly, high youth unemployment, long working hours, low worker productivity, and corruption.
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Source : CIA |
Basic Information
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Company Name |
POSCO DAEWOO CORPORATION (Ex. Company Name : DAEWOO INTERNATIONAL CORPORATION) (Trade Name : DWIC) |
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Registered Address |
10, Tongil-ro, Jung-gu, Seoul, Korea |
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Building |
13th Fl., Yonsei Severance Bldg. |
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Zip Code |
04527 |
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Tel |
+82-2-759-2114 |
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Fax |
+82-2-753-9489 |
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E-mail |
webmaster@daewoo.com;jekwak@daewoo.com;jspark6@daewoo.com; wikim@daewoo.com |
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Website |
www.posco-daewoo.com |
|
Trading Address |
9~21 Fl., NEAT Tower, 165,
Convensia-daero, Yeonsu-gu, Incheon, Korea (Old Address System : 9~21 Fl., NEAT
Tower, 6-10, Songdo-dong, Yeonsu-gu, Incheon, Korea) |
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Tel |
+82-2-759-2114 |
|
Fax |
+82-2-753-9489 |
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Other Address-Busan Factory |
1746-1, Songjeong-dong, Gangseo-gu, Busan,
Korea |
|
Tel |
+82-51-960-3114 |
|
Fax |
+82-51-988-2614 |
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Other Address-Daewoo Dept. Store |
28, Sinpodong 2-ga, Masan-si, Gyeongsangnam-do, Korea |
|
Tel |
+82-55-240-5000 |
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Fax |
|
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Type |
Export/Import |
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Industry |
Wholesale of Non-Specialized Goods |
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Main Business |
Cold Rolled Product, Auto-Component, Impassioned Performance Product,
Synthetic Resin |
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Sub
Business |
Sale of Motor Vehicle Upholstery, Parts and Accessories |
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Established (mm/dd/yyyy) |
12/27/2000 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Vocational training(86100000) |
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Sell |
Steel plate(30102204) |
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Sell |
Steel(11101704) |
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Sell |
Chemicals including Bio Chemicals and Gas Materials(12000000) |
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Sell |
Fibers(11151500) |
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Sell |
Distribution(80141700) |
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Sell |
Transportation components and systems(25170000) |
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Sell |
Structural materials and basic shapes(30100000) |
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Sell |
Base Metals(11101700) |
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Sell |
Industrial process machinery and equipment and supplies(23150000) |
CEO’s
|
Name |
Kim Young-Sang |
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Date of Birth |
01/26/1957 |
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Title |
President & CEO |
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Nationality |
Korean |
Profiles
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Capital (KRW) |
616,875,745,000 |
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Employees |
1,897 |
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Formation |
Listed Company (Koreas Stock Exchange :
047050) as of 03/23/2001 A Company of POSCO Group |
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Bank Details |
Woori Bank-Corporate Finance HQ Korea Development Bank Kyungnam Bank KEB Hana Bank |
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Corporate Registered No. |
110111-2137358 |
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Business Registered No. |
104-81-58195 |
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Permit & Licenses |
Int’l Trade No.: 672861 |
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Shareholder Position |
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Company History |
03/ 22/1967 Incorporated as Daewoo
Industrial Co., Ltd 01/01/1982 Merged with Daewoo Development
Co., Ltd; changed name to Daewoo Corporation 12/27/2000 Changed company name to DAEWOO
INTERNATIONAL CORPORATION as a result of spin-off plan of DAEWOO CORPORATION 03/ 23/2001 Listed at KSE again 11/ 15/2002 Granted Preliminary Graduation
of Work-Out 12/ 30/2003 Completed the Work-Out Program 04/13/2004 Increased capital to 474,943,880,000 KRW from 473,146,840,000 KRW 01/15/2007 Established DAEWOO STC VINA
LTD., in Vietnam 02/26/2007 Secured the developing right on
Myanmar’ Ocean AD-7 Zone 06/27/2007 Awarded Shareholders’ Value
Award 05/19/2008 Moved to the present HQ address
from Daewoo Center Bldg., 541, Namdaemunno 5-ga, Jung-gu, Seoul, Korea 05/14/2010 POSCO(174611-0000741) has been designated as a preferable
negotiating Partner for M&A on the Subject Company by KOREA ASSET MANAGEMENT CORPORATION(KAMCO :
114671-0023169). 09/20/2010 Acquired 68,681,566
shares(68.2%) by POSCO 11/01/2010 Joined as an affiliated company of POSCO GROUP 06/22/2012 Increased capital to 569,381,455,000
KRW from 529,815,770,000 KRW 01/26/2015 Moved to the Trading address
from 10, Tongil-ro, Jung-gu, Seoul, Korea (Old Address System : 13th Fl.,
Yonsei Severance Bldg., 84-11, Namdaemunno 5-ga, Jung-gu, Seoul, Korea
(C.P.O. Box 2810)) 03/14/2016 Changed company name to the
present name 11/04/2016 Decided to acquire Steel
Business from POSCO Processing & Service Co., Ltd.(110111-0344591) as of
03/03/2017 03/02/2017 Increased capital to
616,875,745,000 KRW from 569,381,455,000
KRW |
Detailed Information
Management
|
Job Description |
Name |
Nationality |
Date of Birth |
Inauguration Date |
|
President & CEO |
Kim Young-Sang |
Korean |
01/26/1957 |
07/27/2015 |
|
Vice President |
Jeon Kook-Hwan |
Korean |
09/04/1958 |
03/14/2016 |
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Director |
Jeong Tak |
Korean |
04/05/1959 |
03/13/2017 |
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Outside Director / Auditor |
Kang Hee-Cheol |
Korean |
10/05/1958 |
03/14/2016 |
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Outside Director / Auditor |
Lee Ki-Young |
Korean |
02/04/1961 |
03/14/2016 |
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Outside Director / Auditor |
Choi Do-Sung |
Korean |
10/18/1952 |
03/16/2015 |
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Outside Director / Auditor |
Song Byung-Joon |
Korean |
10/09/1955 |
05/11/2015 |
Financials
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Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
09/2017 |
15,628,717,251,000 |
8,590,336,777,000 |
124,540,875,000 |
|
2016 |
15,417,229,613,000 |
7,419,599,721,000 |
123,708,754,000 |
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2015 |
16,881,039,629,000 |
7,474,312,056,000 |
81,850,203,000 |
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2014 |
19,938,097,326,000 |
8,631,128,655,000 |
173,421,149,000 |
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2013 |
16,601,357,664,000 |
7,739,676,359,000 |
132,540,678,000 |
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2012 |
16,760,371,965,000 |
6,989,139,520,000 |
306,041,024,000 |
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2011 |
18,489,192,354,000 |
7,823,738,433,000 |
160,087,808,000 |
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2010 |
15,664,736,502,000 |
6,247,274,381,000 |
2,207,449,000 |
Financial Description
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Authorized Capital(KRW) |
2,500,000,000,000 |
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Paid-Up Capital(KRW) |
616,875,745,000 |
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Total Issues Shares |
123,375,149 |
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Balance Sheet |
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Unit : Thousand Korean Won |
01/01/2017~09/30/2017 |
As of 12/31/2016 |
As of 12/31/2015 |
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Total Assets |
8,590,336,777 |
7,419,599,721 |
7,474,312,056 |
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Current Assets |
4,829,216,356 |
4,017,870,023 |
3,915,700,016 |
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Cash & Cash Equivalents |
61,042,058 |
43,921,872 |
83,431,496 |
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Trade Receivables & Other
Receivables |
3,974,527,693 |
3,494,714,113 |
3,388,220,073 |
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Other Current Financial
Instruments |
406,531 |
3,082,572 |
1,420,833 |
|
Derivatives |
38,937,471 |
41,046,521 |
68,868,389 |
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Other Current Assets |
109,977,308 |
77,467,587 |
53,552,749 |
|
Inventories |
644,325,295 |
357,637,358 |
320,206,476 |
|
Non-Current Assets |
3,761,120,421 |
3,401,729,698 |
3,558,612,040 |
|
Long-Term Trade Receivables &
Other Receivables |
451,645,403 |
449,172,758 |
551,658,971 |
|
Other Non-Current Financial
Instruments |
93,605,652 |
98,713,149 |
100,113,895 |
|
Investment_Related Companies |
693,489,895 |
665,227,077 |
679,446,691 |
|
Tangibles |
639,959,692 |
290,830,680 |
306,147,282 |
|
Intangibles |
1,546,795,933 |
1,553,763,444 |
1,629,248,837 |
|
Investment_Real Estates |
158,354,366 |
161,003,948 |
163,912,188 |
|
Deferred Income Tax Assets |
177,269,480 |
179,872,321 |
125,288,691 |
|
Deferred Income Tax |
|
3,146,321 |
2,795,485 |
|
Total Liabilities |
5,838,738,533 |
4,988,662,898 |
5,107,402,305 |
|
Current Liabilities |
4,647,397,091 |
3,653,752,083 |
3,532,760,725 |
|
Trade Payables & Other
Payables |
1,734,316,709 |
1,657,860,060 |
1,166,364,476 |
|
Short-Term Borrowings |
2,348,735,134 |
1,470,791,535 |
1,833,824,419 |
|
Current Portion of Debenture |
366,405,734 |
294,732,831 |
349,799,067 |
|
Derivatives |
49,272,619 |
71,803,610 |
72,559,984 |
|
Other Current Liabilities |
129,495,512 |
113,945,499 |
59,392,671 |
|
Deferred Income Tax Credit |
19,171,383 |
44,618,548 |
50,820,108 |
|
Non-Current Liabilities |
1,191,341,442 |
1,334,910,815 |
1,574,641,580 |
|
Long-Term Trade Payables &
Other Payables |
31,395,408 |
28,429,682 |
31,419,076 |
|
Long-Term Borrowings |
220,991,663 |
456,808,954 |
576,855,393 |
|
Debentures |
827,366,594 |
759,477,309 |
894,963,169 |
|
Other Non-Current Debts |
1,587,609 |
1,587,609 |
566,136 |
|
Provision for Severance &
Retirement |
15,766,495 |
3,569,267 |
14,405,567 |
|
Provisions |
94,233,673 |
85,037,994 |
56,432,239 |
|
Capital Stock |
616,875,745 |
569,381,455 |
569,381,455 |
|
Others |
560,434,306 |
354,289,970 |
355,582,722 |
|
Profit Surplus |
1,574,288,193 |
1,507,265,398 |
1,441,945,574 |
|
Total Equity |
2,751,598,244 |
2,430,936,823 |
2,366,909,751 |
|
Liab. & Shareholder’s Equity |
8,590,336,777 |
7,419,599,721 |
7,474,312,056 |
|
Income Statement |
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|
Unit : Thousand Korean Won |
01/01/2017~09/30/2017 |
As of 12/31/2016 |
As of 12/31/2015 |
|
Sales |
15,628,717,251 |
15,417,229,613 |
16,881,039,629 |
|
Cost of Sold Goods |
14,789,768,627 |
14,392,092,451 |
15,734,625,496 |
|
Gross Profit |
838,948,624 |
1,025,137,162 |
1,146,414,133 |
|
Selling & Admin. Expenses |
566,542,500 |
720,836,415 |
801,792,928 |
|
Operating Income |
272,406,124 |
304,300,747 |
344,621,205 |
|
Finance Income |
632,690,637 |
1,074,444,724 |
1,281,173,951 |
|
Finance Expenses |
684,953,286 |
1,048,190,546 |
1,282,620,049 |
|
Other Non-Operating Income |
6,416,542 |
10,356,857 |
21,724,350 |
|
Other Non-Operating Expenses |
47,680,943 |
187,540,722 |
273,790,492 |
|
Income Before Taxes |
178,879,074 |
153,371,060 |
91,108,965 |
|
Income Taxes Expenses |
54,338,199 |
29,662,306 |
9,258,762 |
|
Net Income |
124,540,875 |
123,708,754 |
81,850,203 |
|
Cash Flows |
|||
|
Unit : Thousand Korean Won |
01/01/2017~09/30/2017 |
As of 12/31/2016 |
As of 12/31/2015 |
|
Operating Activities Cash Flows |
-7,304,972 |
849,604,022 |
1,101,522,415 |
|
Net
Income |
124,540,875 |
123,708,754 |
81,850,203 |
|
Adjustment |
285,905,061 |
766,808,782 |
1,053,097,845 |
|
Changes
in Asset/ & Liability |
-350,708,556 |
|
|
|
Interests
Received |
18,769,768 |
31,571,370 |
34,014,632 |
|
Dividends
Received |
32,393,444 |
74,374,367 |
34,625,923 |
|
Interests
Paid |
-52,381,176 |
-56,404,606 |
-56,535,571 |
|
Income
Taxes |
-65,824,388 |
-90,454,645 |
-45,530,617 |
|
Cash
Flows from Investing |
-130,260,423 |
-88,325,734 |
-196,970,167 |
|
Cash
Flows from Financing |
155,583,564 |
-800,814,348 |
-915,339,596 |
|
Increase/Decrease
in Cash |
18,018,169 |
-39,536,060 |
-10,787,348 |
|
Cash
at the Beginning of Year |
43,921,872 |
83,431,496 |
93,136,484 |
|
Cash
at the End of Year |
61,042,058 |
43,921,872 |
83,431,496 |
Products, Technologies, Services Description
|
Main Products & Services |
Steel, Metal, Chemical, Automotive and Component,
Machinery, Media and Electronics, Textiles, Commodity and Energy International trading, resource development
in foreign countries, domestic and international investments in business,
foreign projects, support of small and medium sized companies Brand Name : DAEWOO, 大宇, DAENYX, DAYTEK |
Trade Partners & Competitors
|
Suppliers |
TSM TECH CO., LTD. 4BA-505-1, SIHWA INDUSTRIAL COMPLEX, 748-6,
SEONGGOK-DONG, DANWON-GU, ANSAN-SI, GYEONGGI-DO 425-110 KOREA TEL: 82-31-432-5511 FAX: 82-31-432-0412 INDUSTRY: MANUFACTURE OF ALL OTHER SPECIAL
PURPOSE MACHINERY, N.E.C. DONG HWA CO., LTD. 584-1, GAJWA 1-DONG, SEO-GU, INCHEON
404-812 KOREA TEL: 82-32-870-1500 FAX: 82-32-867-2238 INDUSTRY: MANUFACTURE OF OTHER PARTS AND
ACCESSORIES FOR MOTOR VEHICLES SSANGYONG MOTOR CO.,LTD.(110111-0035132) 150-3, CHILGOE-DONG, PYEONGTAEK-SI,
GYEONGGI-DO, KOREA TEL:+82-31-610-1114 FAX:+82-31-610-3700 INDUSTRY: MANUFACTURE OF PASSENGER MOTOR
VEHICLES |
|
Customers |
Payment: In case of exporting, mostly it is
paid by D/A, D/P and USANCE base with Export Insurance coverage. |
|
Competitors |
SK NETWORKS CO., LTD.(130111-0005199) HYOSUNG CORPORATION(110111-0030497) LG INTERNATIONAL CORPORATION(110111-0004632) SAMSUNG C&T CORPORATION(110111-0002975) HYUNDAI CORPORATION(110111-0205850) SSANGYON CORPORATION(110111-0031479) |
Related Parties (Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates-Domestic |
POSCO(174611-0000741) POSCO COATED & COLOR STEEL CO.,
LTD.(174611-0006492) POSCO ENGINEERING & CONSTRUCTION CO., LTD.(174611-0002979) POSDATA CO., LTD.(110111-0658637) POSCO REFRACTORIES & ENVIRONMENT CO.,
LTD.(174611-0001947) SAMJUNG PACKING AND ALUMINUM CO.,
LTD.(174611-0000866) POS-A.C. CO., LTD.(174611-0003448) POSCO ENGINEERING & CONSTRUCTION CO.,
LTD.(174611-0002979) POSCO RESEARCH INSTITUTE(110111-1042350) POSCO CHEMTECH CO., LTD.(174611-0001947) POSTEEL(110111-0344591) POSCO SPECIALTY STEEL CO., LTD.
(194211-0025248) POSMEC(POSCO MACHINERY & ENGINEERING
CO., LTD.)(174611-0012176) POSCO TERMINAL CO., LTD.(204611-0017575) POSTECH VENTURE CAPITAL COOPERATION
(174611-0029080) POSMATE CO., LTD.(110111-0739841) POSCO POWER CORPORATION(110111-1829576) SNNC CO., LTD.(204611-0023415) PHP CO., LTD.(120111-0421545) POSBRO(110111-3528986) SUWON GREEN ENVIRONMENT CORPORATION(134811-0133794) POSCORE CO., LTD.(134811-0003343) RIZTECH BIZ CO., LTD. POSWITH CO., LTD.(171711-0075927) P&R CO., LTD. UITRANS CO., LTD.(110111-3792309) BASYS INDUSTRY CO. LTD.(110111-0954647) UNIVERSAL STUDIOS RESORT DEVELOPMENT CORPORATION(134811-0167222) METAPOLIS CO., LTD.(134811-0094475) SEOUNG GWANG CO., LTD.(120111-0222844) CHEONGNA IBT CO., LTD.(120111-0454520) POHANG FEUL CELL CO., LTD.(171711-0076256) MEGA ASSET CO., LTD.(161511-0097480) DAEWOOENGINEERING COMPANY CO., LTD.(110111-0203268) POS ECO HOUSING CO., LTD.( 171711-0085893) DAKOS CO., LTD.(131111-0246297) MAPO HYBROAD PARKING CO., LTD.(110111-4250140) GWANGYANG FSC CO., LTD.(204611-0031385) POSPLATE CO., LTD.(204611-0031252) POS CALCIUM CO., LTD.(171711-0086180) (70.0% held by the subject company) |
|
Affiliates-Overseas |
POSCO MEXICO PROCESSING CENTER HOLDING,
LLC. (29.00% held by the subject company) POSCO-ESDC LTD. (20.00% held by the subject company) POSCO IJPC (20.00% held by the subject company) GENERAL MEDICINES CO.,LTD. (33.00% held by the subject company) KOREA LNG LTD. (20.00% held by the subject company) KG POWER(M) SDN. BHD. (20.00% held by the subject company) GLOBAL KOMSCO DAEWOO LLC (35.00% held by the subject company) SOUTH-EAST ASIA GAS PIPELINE COMPANY
LIMITED. (25.04% held by the subject company) KOREA SIBERIA WOOD CJSC (50.00% held by the subject company) DMSA/AMSA (4.00% held by the subject company) DAEWOO GLOBAL DEVELOPMENT PTE. LTD. (30.00% held by the subject company) VNS-DAEWOO CO., LTD. (40.00% held by the subject company) PT. BATUTUA TEMBAGA RAYA (24.10% held by the subject company) YULCHON MEXICO S. A. DE C. V. (10.00% held by the subject company) |
|
Overseas Office |
DAEWOO INT'L(JAPAN) CORP. OSAKA BRANCH NIHON SEIMEI YODOYABASHI BLDG, 8TH FL.,
5-29, 3-CHOME, KITAHAMA, CHUO-KU, OSAKA, 541-0041 JAPAN TEL:+81-6-6222-0848~9 FAX:+81-6-6222-0865 DAEWOO INT'L(JAPAN)CORP. NAGOYA BRANCH 6F,NAGOYA HIROKOJI BLDG 3-1,SAKAE 2CHOME,
NAKA-KU. NAGOYA, 460-0008 JAPAN TEL:+81-52-222-3717 FAX:+81-52-222-3719 DAEWOO INT’L LONDON BRANCH OFFICE 10TH FLOOR CI TOWER ST.GEORGES SQUARE, NEW
MALDEN, SURREY KT3 4HH,UNITED KINGDOM TEL:+44-208-336-9131~3 FAX:+44-208-949-3783 OFICINA DE MADRID CAPITAN HAYA, 56, 6FLOOR-D, 28020 MADRID,
SPAIN TEL:+34-91-571-0563 FAX:+34-91-571-6827 ISTANBUL OFFICE CUMHURIYET CAD.MERKEZ APT.163/7, 34373
ELMADAG - ISTANBUL TURKEY TEL:+90-212-232-1567/1592/1757
FAX:+90-212-232-1994 MOSCOW OFFICE LENINSKY PROSPECT 158. HOTEL SALYUT, OFFICE
303, MOSCOW, 117571, RUSSIA TEL:+7-095-234-9242/9244
FAX:+7-095-234-9249 TASHKENT OFFICE 4TH FLOOR, 1, BUKHARA STEET, TASHKENT,
700015, UZBEKISTAN TEL:+998-71-133-0111, 0311
FAX:+998-71-133-2114 TORONTO BRANCH SUITE #403,1500 DON MILLS ROAD, NORTH YORK,
ONTARIO CANADA, M3B 3K4 TEL:+1-416)510-2886 FAX:+1-416)510-0908 MEXICO BRANCH BOSQUES DE CIRUEOS NO,130-5 PISO, COL,
BOSQUES DE LAS LOMAS C.P.11700 MEXICO D.F.,MEXICO TEL:+52-55)5596-5757,4243
FAX:+52-55)5596-1585 SUCURSAL BUENOS AIRES TALCAHUANO 833, PISO 7 - F, (C1013AAQ) CAP.
FED. BUENOS AIRES, ARGENTINA TEL:+54-11)4816-3201 FAX:+54-11)4815-1158 DAEWOO DO BRASIL IMP. E EXP LTDA AV. PAULISTA 777, 13 ANDAR CEP-0311-100,
SAO PAULO-S.P, BRASIL TEL:+55-11)3285-5699 FAX:+55-11)3266-4125 |
|
Overseas Office |
BEIJING REPRESENTATIVE OFFICE OFFICE C-701, BEIJING LUFTHANSA CENTER 50
LIANGMAQIAO ROAD, CHAOYANG DISTRICT BEIJING 100016, CHINA TEL:+ 86-10-6465-2226 FAX:+86-10-6465-1531,
1532 SHANGHAI OFFICE ROOM 1303-1309 RUIJIN B/D 205, MAO-MING
ROAD(SOUTH) TEL:+86-21-6472-4280 FAX:+86-21-6472-0437 DALIAN OFFICE DALIAN WORLD TRADE CENTER ROOM 2602 NO.25,
TONGXING STREET, ZHONGSHAN DISTRICT, DALIAN, CHINA TEL:+86-411-8253-0808 FAX:+86-411-8253-0070 HARBIN OFFICE HARBIN BAOIL TECHNICAL BUILDING #810 NO. 93
ZHONGSHAN ROAD, XIANGFANG DISTRICT, HARBIN,HEILONGJANG PROV., CHINA(POSTAL
CODE :150036) TEL:+86-451-8233-0434, 0466, 6431
FAX:+86-451-8233-0264 CHANGCHUN OFFICE NOBLE HOTEL ROOM. 818 NO.4501 REMIN STREET,
CHANGCHUN, JILIN PROVINCE, CHINA(POSTAL CODE :130021) TEL:+86-431-563-0676, 567-4753
FAX:+86-431-567-4759 SHENYANG OFFICE SHENYANG TIMES PLAZA 6 F1.NO.99 BEIZHAN
ROAD, SHENHE DISTRICT, SHENYANG, LIAONING PROVINCE, CHINA(POSTAL CODE
:110013) TEL:+86-24-2253-4496 FAX:+86-24-2253-4529 QINGDAO OFFICE #703, FUTAI PLAZA OFFICE TOWER, NO. 18
HONGKONG ZHONG ROAD, QINGDAO CHINA TEL:+86-532-8573-1688/8788
FAX:+86-532-8572-7588 WUHAN BRANCH #709 WUHAN INT'L TRADE COMMERCE CENTER. NO.
566, JIANSHE AVE, WUHAN CHINA,(POSTAL CODE: 430022) TEL:+86-27-8577-0993 FAX:+86-27-8577-0992 GUANGZHOU REPRESENTITIVE OFFICE ROOM 1301, GITIC PLAZA MAIN BLDG. 339
HUANSHI DONG ROAD, GUANGZHOU, CHINA TEL:+86-20-8331-1371 FAX:+86-20-8331-2789 KUNMING OFFICE ROOM 915 HORIZON JIANGUO HOTEL, 432
QINGNIAN ROAD, KUNMING, YUNNAN, CHINA(POSTAL CODE : 650021) TEL:+86-871-318-3373 FAX:+86-871-318-0371 SHANTOU REPRESENTATIVE OFFICE B/18F EVERGREEN BUILDING, EAST JINSHA ROAD,
SHANTOU, CHINA(POSTAL CODE : 515041) TEL:+86-754-816-3442~4, 816-9536 FAX:+
86-754-816-3445 |
|
Overseas Office |
TAIWAN BRANCH 8FL-1, NO.51, KEELUNG RD., SEC2, TAIPEI,
TAIWAN TEL:+ 886-2-8732-5557 FAX:+886-2-8732-5537/5856/5857 AUSTRALIA REPRESENTATIVE OFFICE SUITE 2 LEVEL 4, 621 PACIFIC HIGHWAY ST.
LEONARDS, NSW 2065 AUSTRALIA TEL:+ 61-2-9906-7355 FAX:+61-2-9906-7588 MANILA REPRESENTATIVE OFFICE 5TH FLOOR. PACIFIC STAR BLDG., SEN. GIL J.
PUYAT AVENUE COR. MAKATI AVENUE, MAKATI CITY. PHILIPPINES TEL:+63-2-818-1031~2 FAX:+63-2-817-5267 HANOI OFFICE 3RD FLOOR, OFFICE TOWER, DAEHA BUSINESS
CENTER, 360 KIM MA ST., BA DINH DISTRICT, HANOI, S.R. VIETNAM TEL:+84-4-8315220 FAX:+84-4-8317889 HOCHIMINH OFFICE 117-121 LE LOI ST. 1ST FLOOR, , DIST.1,
HOCHIMINH CITY, S.R.VIETNAM TEL:+84-8-821-7740 FAX:+84-8-821-7750 BANGKOK OFFICE UNIT 1901-1902, M.THAI TOWER, ALL SEASONS PLACE,
87 WIRELESS ROAD, LUMPINI, PATHUMWAN, BANGKOK 10330,THAILAND TEL:+66-2-654-0124~8 FAX:+66-2-654-0129 JAKARTA BRANCH LIPPO PLAZA 7TH FLOOR JL. JEND. SUDIRMAN
KAV 25, JAKARTA 12920 INDONESIA P.O.BOX 2810 TEL:+62-21-520-4520 FAX:+62-21-520-3478 NEW DELHI OFFICE 4/6, FIRST FLOOR, SIRIFORT INSTITUTIONAL
AREA,NEW DELHI-110049, INDIA TEL:+91-11-649-8201~3 FAX:+91-11-649-5387,
4792 |
|
Overseas Office |
NEW DELHI OFFICE 4/6, FIRST FLOOR, SIRIFORT INSTITUTIONAL
AREA,NEW DELHI-110049, INDIA TEL:+91-11-649-8201~3 FAX:+91-11-649-5387,
4792 TEHRAN BRANCH NO. 27, REZA NAYEBI ST., VESSAL SHIRAZI
AVE., P.O. BOX 14155-3531, TEHRAN, IRAN TEL:+98-21-646-3571~7 FAX:+98-21-646-9805,
649-2057 DUBAI BRANCH P.O.BOX 8090 FLAT NO.221 OUD METHA BLDG., AL
GARHOUD ROAD, DUBAI, U.A.E. TEL:+971-4-324-8240 FAX:+971-4-324-8241 TEL AVIV OFFICE FLOOR 12TH, AVIV TOWER BLDG. A, 48PETACH
TIKVA ROAD. TEL AVIV 66184, ISRAEL TEL:+972-3-537-2292 FAX:+972-3-537-2286 RIYADH OFFICE KING FAISAL FOUNDATION BLDG. SOUTH TOWER,
8TH FLOOR, P.O.BOX 89644, RIYADH 11692 SAUDI ARABIA TEL:+966-1-464-6814, 6211
FAX:+966-1-464-6814 AMMAN OFFICE QATEEF STR., HOUSE #24, UMM OTHINA, AMMAN,
JORDAN TEL:+962-6-553-6451~2 FAX:+962-6-553-6453 BAGHDAD OFFICE NO. 10 STREET, 29 QT, 601, MANSUR, BAGHDAD,
IRAQ TEL:+964-1-543-1663, 5701
FAX:+964-1-542-9258 CAIRO LIAISON OFFICE FLAT NO. 64, GEZIRAH TOWER 1, ROAD NO. 151,
MAADL CAIRO, EGYPT TEL:+20-2-525-6012, 524-0810
FAX:+20-2-525-6015 NAIROBI BRANCH INTERNATIONAL HOUSE 5TH FLOOR, MAMA NGINA STEERT
P.O.BOX 43739 G.P.O NAIROBI KENYA TEL:+254-20-316108, 316109
FAX:+254-20-316135 |
|
Overseas Office |
RABAT BRANCH ANGLE RUE DE HONAINE ET 16 NOVEMBRE, IMM 2,
APT 11 AGDAL, B.P 8153 RABAT, MOROCCO TEL:+213-37-674509 FAX:+212-37-674510 ALGERIA BRANCH HOTEL INTERNATIONAL ALGER, ROOM #225, PINS
MARITIMES, ALGER, ALGERIA TEL:+213-21-210752 FAX:+213-21-219796 TUNIS OFFICE CHEZ SOREPRAS, 92, RUE 18, JANVIER 1952
1001 TUNIS, TUNISIA TEL:+216-71-334051 FAX:+216-71-334051 LUANDA OFFICE AV.HIJI YA HENDA, TORRE B, 2O. ANDAR, APTO.
B(AO ESTADIO DA CIDADELA), P.O.BOX
513, LUANDA, ANGOLA TEL:+244-2-263635, 263931, 263966
FAX:+244-2-263670 JOHANNESBURG BRANCH 1ST FLOOR, FEDSURE TOWERS 13 FREDMAN DRIVE SADOWN,
SANDTON 2196 REPUBLIC OF SOUTH AFRICA P.O.BOX 786734 SANTON 2146 SA TEL:+27-11-784-1326 FAX:+27-11-784-1301 |
|
Subsidiary |
POSCO DAEWOO AMERICA CORP,(Ex. DAEWOO INT'L
(AMERICA) CORP.) (100.00% held by the subject company) POSCO DAEWOO DEUTSCHLAND GMBH.(Ex. DAEWOO
INT'L (DEUTSCHLAND) GMBH) (100.00% held by the subject company) POSCO DAEWOO JAPAN CORP.(Ex. DAEWOO INT'L
JAPAN CORP.) (100.00% held by the subject company) POSCO DAEWOO SINGAPORE PTE LTD.(Ex. DAEWOO
INT'L SINGAPORE PTE. LTD.) (100.00% held by the subject company) POSCO DAEWOO CHINA CO., LTD. DAEWOO PAPER MANUFACTURING CO., LTD. POSCO DAEWOO DEUTSCHLAND GMBH POSCO DAEWOO ITALIA S.R.L.(Ex. DAEWOO ITALIA S.R.L.) (100.00% held by the subject company) POSCO DAEWOO MEXICO S.A. de C.V.(Ex. DAEWOO INT'L
MEXICO S.A. DE C.V.) (100.00% held by the subject company) POSCO DAEWOO INT'L SHANGHAI CO., LTD. (100.00% held by the subject company) POSCO DAEWOO INT'L (M) SDN BHD (100.00% held by the subject company) POSCO DAEWOO INDIA PVT., LTD.(Ex. DAEWOO INT'L
INDIA PRIVATE LIMITED) (100.00% held by the subject company) MYANMAR DAEWOO LTD. (100.00% held by the subject company) POSCO DAEWOO TEXTILE FERGANA LLC (100.00% held by the subject company) POSCO DAEWOO TEXTILE BUKHARA LLC (100.00% held by the subject company) POSCO DAEWOO AUSTRALIA HOLDINGS PTY. LTD.(Ex. DAEWOO INT'L AUSTRALIA HOLDINGS PTY. LTD.) (100.00% held by the subject company) POSCO DAEWOO AAPC CORPORATION (100.00% held by the subject company) |
|
Subsidiary |
DAEWOO EL SALVADOR S.A. DE C.V. (88.00% held by the subject company) BRASIL SAO PAULO STEEL PROCESSING CENTER (51.00% held by the subject company) PT. BIO INTI AGRINDO (85.00% held by the subject company) POSCO DAEWOO VIETNAM CO., LTD.(Ex. DAEWOO INT'L
VIETNAM CO., LTD.) (100.00% held by the subject company) POSCO DAEWOO MYANMAR CORPORATION LIMITIED(Ex. MYANMAR DAEWOO INT'L CORP.) (100.00% held by the subject company) POSCO DAEWOO E&P CANADA CORP. (100.00% held by the subject company) DAEWOO POWER AND INFRA (PTY) LTD. (100.00% held by the subject company) POSCO DAEWOO POWER(PNG POM) LTD.(Ex. HANJUNG
POWER LTD.) (100.00% held by the subject company) DAEWOO PRECIOUS RESOURCES CO., LTD. (60.00% held by the subject company) POSCO DAEWOO POWER(PNG POM) LTD.(Ex. DAEWOO POWER
PNG LTD.) (100.00% held by the subject company) |
|
Corporate Ownership |
POSCO(174611-0000741) |
|
Major Shareholders |
POSCO(174611-0000741) |
|
Cooperative Enterprise |
SAUDI STEEL PIPE-SAUDI ARABIA SEARS / K-MART -USA ASH / ARGOS - USA PDC-VIETNAM MPE - MYANMAR UNIPLAST - UKRAINE CEMEX TRADING LLC - USA VYKSA - RUSSIA PWP - USA CHERRY AUTOMOBILE - CHINA MYGYAR SUZUKI – JAPAN -Insured Company LIG INSURANCE CO., LTD(110111-0017859) |
Sales by Region (Activity & Markets)
|
Sales/ Unit :Mil KRW |
2016 |
2015 |
2014 |
|
Export |
14,245,446 |
15,628,300 |
18,241,169 |
|
Domestic |
1,171,784 |
1,252,740 |
1,696,928 |
|
Total |
15,417,230 |
16,881,040 |
19,938,097 |
The Subject exports
to Asia, China, North America.
Court Action
|
Case No. |
Court |
Plaintiff(s)/
Creditor(s)/ Applicant(s) |
Defendant(s)/
Debtor(s)/ Respondent(s) |
Cause |
Amount (KRW) |
Status |
|
|
|
Kim Jae-Cheon & Others(1) |
The Subject Company |
Refund of Inappropriate profit |
USD 433,000 |
proceeding |
|
|
|
Park Bae-Ok & Others(627) |
The Subject Company |
Salaries |
628,000,000 |
proceeding |
|
|
|
Han Chang-Eun & Others(46) |
The Subject Company |
Salaries |
47,000,000 |
proceeding |
|
|
|
DAEWOO CORPORATION(110111-0150138) |
The Subject Company |
Surplus |
500,000,000 |
proceeding |
|
|
|
LBA |
The Subject Company |
Claim for Damages |
EUR 5,000,000 |
Proceeding |
|
05/2002 |
Mumbai District Court |
Industrial Development Bank of India (IDBI) |
The Subject Company |
Guaranteed Liabilities |
INR 4,458,849 |
Proceeding |
|
|
|
Acciona Pacer Joint Venture (APJV) |
The Subject Company |
Claim for Compensation from Damages |
CAD 79M |
Filed as of 11/17/2016 Proceeding |
|
|
|
IRAQ |
The Subject Company |
Claim for Compensation from Damages |
- |
Proceeding |
|
|
|
Logistec USA Inc. |
The Subject Company |
Claim for Damages |
USD 75,000 |
Proceeding |
|
|
|
CBX RESOURCES, LLC |
The Subject Company |
Claim for Damages |
- |
Proceeding |
|
|
|
Bayoil (USA), Inc |
The Subject Company |
Claim for Damages |
- |
Proceeding |
|
|
|
Petrochemical Commercial Company |
The Subject Company |
Receivables |
EUR 3,270,000 |
Proceeding |
|
|
|
Henghou Industries (Hong Kong) Limited |
The Subject Company |
Claim for Damages |
CNY 14,089,000 |
Proceeding |
|
|
|
Ningbo Foreign TradeCo., Ltd. |
The Subject Company |
Claim for Damages |
CNY 28,112,000 |
Proceeding |
|
|
|
Dynatec Madagascar |
The Subject Company |
Claim for Damages |
USD 199,862,000 |
Proceeding |
There are 21(Domestic
: 11 / Overseas : 10) cases filed as Defendant(s)/ Debtor(s)/ Respondent(s)
amounting 9,903,000,000 KRW, USD 15,644,000, EUR 2,747,000, INR 4,518,694,000,
CAD 79,000,000 and PKR 124,775,000, and 23 cases filed as Plaintiff(s)/
Creditor(s)/ Applicant(s) as of 09/30/2017.
News Clipping
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.37 |
|
|
1 |
INR 89.71 |
|
Euro |
1 |
INR 78.89 |
|
KRW |
1 |
INR 0.059 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
SYL |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.