MIRA INFORM REPORT

 

 

Report Date :

19th February, 2007

 

IDENTIFICATION DETAILS

 

Name :

PHARMSWELL CO., LTD.

 

 

Registered Office :

5th Fl., Gangsan Bldg., 82-3, Yangjae 1-dong, Seocho-gu, Seoul, Korea

 

 

Country :

Korea

 

 

Financials (as on) :

31.12.2005

 

 

Date of Incorporation :

12.05.1999

 

 

Legal Form :

Company Limited by shares, Venture Business

 

 

Line of Business :

Wholesale of Medicine and Medical Goods.

 

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 :

Regular

 

 

Litigation :

Clear

 

 

Basic Information

 

Company Name

Pharmswell Co., Ltd.

Address

82-3, Yangjae 1-dong, Seocho-gu, SEOUL, KOREA

Building

5th Fl., Gangsan Bldg.

Zip Code

137-890

Tel

+82-2-577-1555

Fax

+82-2-577-4556

E-mail

dx0531@kspharm.co.kr

Website

www.kspharm.co.kr

Type

Import/Export

Industry

Wholesale of Medicine and Medical Goods

Main Business

Food and Food Products

Sub Business

Chemicals

Established

05/12/1999

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Drugs and Pharmaceutical Products(51000000)

Sell

Other Chemicals

Sell

Food Products

Sell

Materials for Cosmetics

 

 

Others

 

Name

Kwon Young-Jin

Address

23-1, Sunae-dong, Bundang-gu, Seongnam-si, Gyeonggi-do 463-825 Korea

Date of Birth

04/08/1966

Title

President & CEO

Sex

Male

Nationality

Korean

Capital

2,657,400,000 KRW

Employees

15

Formation

Co., Ltd by shares, Venture Business

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Day

President & CEO

Mr.

Kwon Young-Jin

Male

Korean

05/12/1999

Director

Mr.

Sohn Suck-Doo

Male

Korean

03/30/2002

Director

Mr.

Lee Jong-Yool

Male

Korean

12/31/2003

 

Mr.

Jin Keon-Ok

Male

Korean

11/10/2006

Auditor

Mr.

Lee Yoon-Hong

Male

Korean

11/10/2006

 

 

Financials                                                

Unit: KRW

Year

Sales

Assets

Net income

2005

17,313,100,963

9,009,202,595

356,714,517

2004

15,336,465,902

8,253,182,624

293,009,692

2003

12,939,000,000

3,884,000,000

382,000,000

 

Financial Description

                                                                                                     Unit: KRW

Authorized Capital

25,000,000,000

Paid-Up Capital

2,657,400,000

Total Issues Shares

5,314,800

 

Balance Sheet                           Unit : Korean Won

 

As of 12/31/2005

As of 12/31/2004

As of 12/31/2003

Total Assets

9,009,202,595

8,253,182,624

3,884,000,000

Current Assets

4,370,718,211

3,491,942,838

3,093,000,000

-Quick Assets

4,136,104,927

3,390,173,406

2,991,000,000

-Inventories

234,613,284

101,769,432

102,000,000

Fixed Assets

4,638,484,384

4,761,239,786

791,000,000

-Investment

311,922,080

386,169,780

696,000,000

-Tangibles

4,303,204,506

4,349,846,075

95,000,000

-Intangibles

23,357,798

25,223,931

 -

Total Liabilities

7,022,554,992

6,623,249,538

2,960,000,000

Current Liabilities

6,701,285,245

4,279,581,815

2,916,000,000

Fixed Liabilities

321,269,747

2,343,667,723

44,000,000

Capital Stock

620,000,000

620,000,000

210,000,000

Capital Surplus

99,310,000

99,310,000

 -

Profit Surplus

1,267,337,603

910,623,086

714,000,000

Capital Adjustment

　

　

 -

Total Equity

1,986,647,603

1,629,933,086

924,000,000

Liab. & Shareholder’s Equity

9,009,202,595

8,253,182,624

3,884,000,000

 

    Income Statement                       Unit : Korean Won

 

As of 12/31/2005

As of 12/31/2004

As of 12/31/2003

Sales

17,313,100,963

15,336,465,902

12,939,000,000

Cost of Sold Goods

13,974,616,253

12,453,866,774

10,603,000,000

Gross Profit

3,338,484,710

2,882,599,128

2,336,000,000

Selling & Admin. Expenses

2,586,372,206

1,809,675,404

1,769,000,000

Operating Income

752,112,504

1,072,923,724

567,000,000

Non-Operating Income

24,229,899

11,247,158

42,000,000

Non-Operating expenses

278,875,986

669,421,542

94,000,000

Ordinary Income

497,466,417

414,749,340

515,000,000

Special Income

-

-

 -

Income Before Taxes

497,466,417

414,749,340

513,000,000

Income Taxes Expenses

140,751,900

121,739,648

131,000,000

Net Income

356,714,517

293,009,692

382,000,000

Bank Details

Industrial Bank of Korea

Corporate Registered No.

110111-1695555

Business Registered No.

229-81-37989

Shareholder Position

Name (As of 12/31/2005)

Shares

%

Kwon Young-Jin

29,913

48.25%

Sohn Suck-Doo

10,357

16.71%

Im Dae-Yong

10,000

16.13%

Song Joon-Young

6,300

10.16%

Cho Seok-Jae

5,390

8.69%

Myungji University

40

0.06%

Total

62,000

100.00%

 

As of 11/26/2006, GoodSSEN CO., LTD (KOSDAQ: 065270) has taken 30% shares at 3,000,000,000 KRW.

Company History

05/12/1999 Established Kang San Pharmaceutical Co., Ltd.

07/12/2004 Moved to the present address

08/31/2004 Merged Chempro Co., Ltd

11/17/2006 Acquired manufacturing and product permission of Kangsan Halcinonide.

12/28/2006 Changed company name to the present name

02/03/2007 Increased capital to 2,657,400,000 KRW from 885,800,000 KRW

 

 

Products, Technologies, Services Description

 

Main Products & Services

Pharmaceutical Products

Food flavoring agent

Flavor powder

Oils for Aromatheraphy(Oil)

Chinese medicine material

 

Alibendol

Doxifluridine

Prednicarbate

Formoterol Fumarate

Ebastine

Bamiphyline HCI

Bambuterol

Warfarin

Bucillamine

Doxazosin Mesylate

 

 

Trade Partners

 

Customers

DAEHAN NEW PHARM CO., LTD.

DREAMPHARMA CORP.

KOREA UNITED PHARM INC

STIPEL KOREA

MEDITECH KOREA PHARM, CO., LTD

KOREA KOLMAR CO.,LTD.

 

 

Cooperative Enterprise   

 

GoodSSEN CO., LTD (KOSDAQ: 065270)

 

 

 

 

 

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

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

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions