Former DSME chief jailed for hiding losses to win loans
Daewoo Shipbuilding & Marine Engineering (DSME) · Shipbuilding and offshore
The case in brief
Visible before detection
Checks that could have surfaced it, on hindsight
Unit economics & burn
Would have tested project cost to complete against actual spend.
Can mislead when: Cost allocation is a judgement call. Kubr shows its assumptions and lets the user change them.
Ownership / related-party links
Would have consolidated affiliate exposure and related-party losses.
Can mislead when: Nominee directors and offshore layers hide links. Name matching throws up false positives, so every flag shows its evidence path.
Bank credits vs books
Would have compared reported profit with project cash flow.
Can mislead when: AA only sees the accounts the company links, so an undisclosed account stays invisible. Cash-heavy businesses and timing differences create false flags.
Regulatory & litigation records
Would have watched lender and guarantee concentration.
Can mislead when: Court records lag and name spellings vary. A clean record can mean the problem has not reached court yet.
Where Kubr services would have helped
Valuation context
Offered in India- C8 Would have watched lender and guarantee concentration.
- C9 Would have tested project cost to complete against actual spend.
Financial diligence
Offered in India- C1 Would have compared reported profit with project cash flow.
- C3 Would have consolidated affiliate exposure and related-party losses.
- C9 Would have tested project cost to complete against actual spend.
Portfolio monitor
Offered in India- C1 Would have compared reported profit with project cash flow.
- C3 Would have consolidated affiliate exposure and related-party losses.
- C8 Would have watched lender and guarantee concentration.
Borrower monitor
Offered in India- C1 Would have compared reported profit with project cash flow.
- C3 Would have consolidated affiliate exposure and related-party losses.
- C8 Would have watched lender and guarantee concentration.
Mapped from the checks each service runs. A hindsight reading of public records, not a promise that the failure would have been found.
Same pattern
A summary of public documents. It reports what the sources say. It is not Kubr's finding and not a statement of guilt.