MIRA
INFORM REPORT
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Report Date : |
20.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
KOREA PRIME PHARM. CO., LTD. |
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Registered Office : |
158-3, Daein-dong, Dong-gu, Gwangju - 501-811 |
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Country : |
Korea |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
02/25/1995 |
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Legal Form : |
Company Limited by shares |
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Line of Business : |
Manufacture of Medicinal Medicaments |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Basic
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Company
Name |
KOREA
PRIME PHARM. CO., LTD. |
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Registered Address |
158-3,
Daein-dong, Dong-gu, GWANGJU, KOREA |
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Zip Code |
501-811 |
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Tel |
+82-62-233-1110 |
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Fax |
+82-62-233-3297 |
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E-mail |
krprime@hanmail.net |
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Website |
www.koreaprime.co.kr |
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Trading Address |
#506,
Jinwoo B/D., 32-11, Dorim 1-dong, Yeongdeungpo-gu, Seoul, Korea |
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Tel |
+82-2-848-8487~8 |
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Fax |
+82-2-848-8489 |
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Jeonju Factory |
616-3,
Eungyo-ri, Iseo-myeon, Wanju-gun, JEOLLABUK-DO, KOREA |
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Tel |
+82-63-222-4333 |
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Fax |
+82-63-222-2333 |
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Type |
Export |
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Industry |
Manufacture of Medicinal Medicaments |
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Main Business |
Injections, Tablet, Capsule |
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Established (mm/dd/yyyy) |
02/25/1995 |
The Subject owns the premises of the Jeonju Factory. And The Subject owns the factory land in Dunsan-ri, Bongdong-eup,
Wanju-gun, Jeollabuk-do, Korea (3,821㎡) and is under construction of new factory.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
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Sell |
Autonomic nervous system drugs(51150000) |
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Sell |
Acetylcysteine(51161701) |
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Sell |
Antiulcer and related gastrointestinal GI drugs(51171900) |
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Sell |
Antacids and antiflatulents(51171500) |
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Sell |
Drugs affecting the gastrointestinal system(51170000) |
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Sell |
Nonsteroidal anti inflammatory drugs NSAIDs(51142100) |
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Sell |
Antihistamines or H1 blockers(51161600) |
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Sell |
Formulas and products for nutritional support(42231800) |
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Sell |
Centrally acting skeletal muscle relaxants(51151900) |
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Buy |
Streptomycin sulphate(51101826) |
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Buy |
Vitamin supplements(51191905) |
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Buy |
Baclofen(51151901) |
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Buy |
Dextropropoxyphene(51142237) |
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Buy |
Nonsteroidal anti inflammatory drugs NSAIDs(51142100) |
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Buy |
Antibiotics(51101500) |
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Buy |
Printing and writing paper(14111500) |
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Buy |
Loratadine(51161606) |
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Buy |
Cetirizine(51161615) |
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Buy |
octyloniym bromide |
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Buy |
Streptococcus |
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Buy |
Nicametate citrate |
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Buy |
Antacids and antiflatulents(51171500) |
CEO’s
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Name |
Kim Young-Soon |
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Address |
337, Ssangchon-dong, Seo-gu, Gwangju, Korea |
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Date of Birth |
02/12/1937 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
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Capital |
1,500,000,000 KRW |
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Employees |
104 |
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Formation |
Co., Ltd by shares |
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Bank Details |
Industrial Bank of Korea-Kumnamro Branch Gwangju Bank |
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Corporate Registered No. |
210111-0015068 |
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Business Registered No. |
114-81-65048 |
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Permit & Licenses |
N/A |
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Shareholder Position |
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Company History |
March 1984 - Founded Karam Pharmacy
Co.,Ltd May 1990 - completed KGMP enlargement
Building Construction March 1991 - Got Approval KGMP
Factory March 1995 - Changed to Ahsung Pharmacy
Co.,Ltd July 2000 - Jeonju Products Line More
Establishment September 2001 - Increased Capital funds
of Korea Prime Pharmacy Co.,Ltd December 2001 - Supported to Medical
Support Business to North Korea and visited to North Korea September 2002 - Broadcasted Television
Commercial "Sockeeper Tab" October 2002 - Applied to Office of Patent
Administration of Korea "35items Products Service October 2002 - Registration and Kinds of 2
products" 01/31/2004 Moved to the present
address(HQ) from 383, Usan-dong, Buk-gu, Gwangju, Korea 2005 Moved Seoul Office to #506, Jinwoo
B/D., 32-11, Dorim 1-dong, Yeongdeungpo-gu, Seoul, Korea from #703, Daisan Bldg, 14-17, Youngdeungpogu,
Yoido-Dong, Seoul, Korea 03/28/2007 Increased capital to 1,500,000,000 KRW from 1,050,000,000 KRW |
The Subject manufactures Medicinal Medicaments, and exports to Afghanistan,
Armenia, Cambodia, Germany, Hong Kong, Mongol, Nigeria, Vietnam and Spain.
Recently the subject has joined to donate the pharmaceutical products for
helping North Korean.
Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Day |
|
President & CEO |
Mr. |
Kim Young-Soon |
Male |
Korean |
11/14/2000 |
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Director |
Mr. |
Kim Dae-Ik |
Male |
Korean |
07/21/2003 |
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Director |
Mr. |
Hyun Byung-Yong |
Male |
Korean |
07/21/2003 |
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Auditor |
M/S. |
Kim Mi-Yang |
Female |
Korean |
03/31/2003 |
Financials
Unit: KRW
|
Year |
Sales |
Assets |
Net income |
|
2006 |
19,279,655,078 |
11,454,438,404 |
1,411,119,387 |
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18,490,751,956 |
9,325,164,694 |
1,252,601,063 |
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2004 |
13,140,000,000 |
6,983,000,000 |
853,000,000 |
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2003 |
10,359,000,000 |
5,174,000,000 |
589,000,000 |
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2002 |
8,686,000,000 |
4,095,000,000 |
558,000,000 |
Financial Description
Unit: KRW
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Authorized
Capital |
2,000,000,000 |
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Paid-Up
Capital |
1,050,000,000 |
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Total Issues Shares |
105,000 |
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Balance Sheet |
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Unit : Korean Won |
As of 12/31/2006 |
As of 12/31/2005 |
As of 12/31/2004 |
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Total Assets |
11,454,438,404 |
9,325,164,694 |
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Current Assets |
8,914,916,823 |
8,432,565,172 |
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-Quick Assets |
7,635,346,969 |
7,965,099,141 |
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-Inventories |
1,279,569,854 |
467,466,031 |
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Fixed Assets |
2,539,521,581 |
892,599,522 |
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-Investment |
177,201,000 |
100,201,000 |
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-Tangibles |
2,362,320,581 |
789,731,855 |
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-Intangibles |
- |
2,666,667 |
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Total Liabilities |
6,125,542,597 |
4,875,542,847 |
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Current Liabilities |
4,484,786,390 |
3,610,979,229 |
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Fixed Liabilities |
1,640,756,207 |
1,264,563,618 |
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Capital Stock |
1,050,000,000 |
1,050,000,000 |
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Capital Surplus |
- |
- |
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Profit Surplus |
4,278,895,807 |
3,399,621,847 |
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Capital Adjustment |
- |
- |
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Total Equity |
5,328,895,807 |
4,449,621,847 |
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Liab. & Shareholder’s Equity |
11,454,438,404 |
9,325,164,694 |
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Current Liabilities |
4,484,786,390 |
3,610,979,229 |
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Trade Payables |
541,913,560 |
1,408,551,569 |
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Short-Term Borrowings |
1,860,000,000 |
1,200,000,000 |
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Account Payables |
514,019,645 |
- |
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Withholdings |
34,091,645 |
21,951,380 |
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Accrued Income Tax |
395,061,440 |
313,131,880 |
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Accrued Expenses |
308,035,140 |
382,404,257 |
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VAT Withhold |
181,664,960 |
284,940,143 |
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Current Portion of Long-Term Debts |
650,000,000 |
- |
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Fixed Liabilities |
1,640,756,207 |
1,264,563,618 |
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Long-Term Borrowings |
1,000,000,000 |
1,050,000,000 |
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Provision for Severance & Retirement |
640,756,207 |
214,563,618 |
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Income Statement |
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Unit : Korean Won |
As of 12/31/2006 |
As of 12/31/2005 |
As of 12/31/2004 |
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Sales |
19,279,655,078 |
18,490,751,956 |
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Cost of Sold Goods |
7,197,688,708 |
7,250,347,872 |
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Gross Profit |
12,081,966,370 |
11,240,404,084 |
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Selling & Admin. Expenses |
9,775,818,511 |
9,155,131,200 |
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Operating Income |
2,306,147,859 |
2,085,272,884 |
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Non-Operating Income |
30,406,911 |
28,161,190 |
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Non-Operating expenses |
323,584,463 |
405,783,651 |
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Ordinary Income |
2,012,970,307 |
1,707,650,423 |
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Special Income |
- |
- |
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Income Before Taxes |
2,012,970,307 |
1,707,650,423 |
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Income Taxes Expenses |
601,850,920 |
455,049,360 |
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Net Income |
1,411,119,387 |
1,252,601,063 |
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Cash Flows |
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Unit : Korean Won |
As of 12/31/2006 |
As of 12/31/2005 |
As of 12/31/2004 |
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Cash Flows from Operating |
877,236,300 |
95,773,539 |
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-Net Income |
1,411,119,387 |
1,252,601,063 |
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-Exp. without Cash Outflow |
720,269,469 |
699,482,262 |
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-Revenue without Cash Inflows |
(-)13,588,335 |
(-)14,679,340 |
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-Changes in Asset/ & Liability |
(-)1,240,564,221 |
(-)1,841,630,446 |
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Cash Flows from Investing |
(-)1,923,651,131 |
(-)327,932,864 |
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-Cash Inflow from Investing |
5,727,272 |
156,120,606 |
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-Cash Outflows for Investing |
(-)1,929,378,403 |
(-)484,053,470 |
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Cash Flows from Financing |
1,061,650,320 |
250,402,042 |
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-Cash Inflows from Financing |
3,844,770,832 |
1,214,679,340 |
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-Cash Outflows from Financing |
(-)2,783,120,512 |
(-)964,277,298 |
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Increase/Decrease in Cash |
15,235,489 |
18,242,717 |
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Cash at the Beginning of Year |
44,408,131 |
26,165,414 |
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Cash at the End of Year |
59,643,620 |
44,408,131 |
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Products,
Technologies, Services
Description
|
Main
Products & Services |
Antibiotic & Virus Anticonvulsive Refrigerant/Anodyne Antiphlogistic sketetel muscle relaxants Digestive organ Antiphlogistic Enzyme Digestive Antihistanines Phlegmy Expectorant Circulatory System Vitamin A.D Injection |
Related Parties
(Subsidiaries, Joint-
Venture &
Affiliates)
|
Affiliates |
KOREA PRIME HEALTH CO., LTD. (27.5% held by
the Subject Company) |
Sales by Region (Activity
& Markets)
The Subject exports to Afghanistan, Armenia, Cambodia, Germany, Hong
Kong, Mongol, Nigeria, Vietnam and Spain.
Court Action
No.
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)