MIRA INFORM REPORT

 

 

Report Date :

3rd March, 2007

                                                         

IDENTIFICATION DETAILS

 

Name :

UNION KOREA PHARM CO., LTD.

 

 

Registered Office :

5-9, Bangye-ri, Munmak-eup, Wonju-si, Gangwon-Do, Korea.

 

 

Country :

Korea

 

 

Financials (as on) :

31.03.2005

 

 

Date of Incorporation :

01.03.1995

 

 

Legal Form :

Company Limited by Shares

 

 

Line of Business :

Manufacture of Medicinal Medicaments.

 

 

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 :

Good

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Basic Information

 

Company Name

UNION KOREA PHARM CO., LTD.

Address

5-9, Bangye-ri, Munmak-eup, Wonju-si, GANGWON-DO, KOREA

Zip Code

220-805

Tel

+82-33-731-2804

Fax

+82-33-731-2802

E-mail

0911jmk@daum.net

Website

www.ukp.co.kr

Seoul Office

5th Fl., Wonoe Bldg., Pungnap 2-dong, Songpa-gu, SEOUL, KOREA

Tel

+82-2-489-3611

Fax

+82-2-489-5970

Type

Export/Import

Industry

Manufacture of Medicinal Medicaments

Main Business

Drugs and Pharmaceutical Products

Established

03/01/1995

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Antibiotics(51101500)

Sell

Non narcotic analgesics and antipyretics(51142000)

 

 

Others

 

Name

Back Bying-Ha

Address

28-1, Jeongja-dong, Bundang-gu, Seongnam-si, Gyeonggi-do, Korea

Date of Birth

06/05/1957

Title

President & CEO

Sex

Male

Nationality

Korean

Capital

2,100,000,000 KRW

Employees

128

Formation

Co., Ltd by shares, Venture Business

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Day

President & CEO

Mr.

Back Bying-Ha

Male

Korean

03/09/2001

Director

M/S.

Ahn Hee-Sook

Female

Korean

03/09/2001

Director

Mr.

Yoon Sung-Phil

Male

Korean

10/25/2006

Director

Mr.

Lee Chun-Soo

Male

Korean

10/25/2006

Auditor

Mr.

Kim Jong-Man

Male

Korean

10/25/2006

Supervisor

Mr.

Hwang Hyun-Il

Male

Korean

06/01/2006

 

 

Financials 

                                                                                                  

            Unit: KRW

Year

Sales

Assets

Net income

2005

21,848,073,597

  19,111,094,127

600,711,143

2004

18,472,612,571

 14,642,764,065

215,252,205

 

 

Financial Description       

 

Unit: KRW

Authorized Capital

5,000,000,000

Paid-Up Capital

2,100,000,000 (As of 01/25/2006)

Total Issues Shares

220,000 (As of 01/25/2006)

 

Balance Sheet                           Unit : Korean Won

 

 

As of 12/31/2005

As of 12/31/2004

Total Assets

 

  19,111,094,127

 14,642,764,065

Current Assets

 

14,977,291,624

10,197,751,831

-Quick Assets

 

13,005,939,581

8,352,200,997

-Inventories

 

1,971,352,043

1,845,550,834

Fixed Assets

 

4,133,802,503

4,445,012,234

-Investment

 

568,784,420

255,055,000

-Tangibles

 

3,471,707,250

4,106,669,734

-Intangibles

 

93,310,833

83,287,500

Total Liabilities

 

 15,114,502,830

 11,267,474,526

Current Liabilities

 

8,989,701,697

5,170,919,651

Fixed Liabilities

 

6,124,801,133

6,096,554,875

Capital Stock

 

 2,000,000,000

 2,000,000,000

Capital Surplus

 

 407,529,532

 387,228,497

Profit Surplus

 

 1,588,772,185

 988,061,042

Capital Adjustment

 

 289,580

 -

Total Equity

 

  3,996,591,297

 3,375,289,539

Liab. & Shareholder’s Equity

 

 19,111,094,127

 14,642,764,065

 

    Income Statement                       Unit : Korean Won

 

 

As of 12/31/2005

As of 12/31/2004

Sales

 

   21,848,073,597

   18,472,612,571

Cost of Sold Goods

 

    9,607,263,457

   10,218,186,198

Gross Profit

 

   12,240,810,140

    8,254,426,373

Selling & Admin. Expenses

 

   10,181,698,340

    6,733,117,437

Operating Income

 

    2,059,111,800

    1,521,308,936

Non-Operating Income

 

       523,115,967

        74,065,370

Non-Operating expenses

 

    2,004,222,158

    1,130,724,659

Ordinary Income

 

       578,005,609

       464,649,647

Special Income

 

  -

  -

Income Before Taxes

 

       578,005,609

       464,649,647

Income Taxes Expenses

 

 (-)22,705,534

       249,397,442

Net Income

 

       600,711,143

       215,252,205

Bank Details

Chohung Bank

Garak Dong Branch

Corporate Registered No.

180111-0007062

Business Registered No.

607-81-21765

Shareholder Position

Name

Shares

%

Back Bying-Ha

57,800

28.90%

Shin Sung-Hee

38,000

19.00%

Ahn Hee-Sook

35,300

17.65%

Moon Mi-Ra

32,200

16.10%

Lee Sung-Soo

24,000

12.00%

Kim So-Ryung

8,000

4.00%

Hwang Dong-Il

4,700

2.35%

Total

200,000

100.00%

Company History

03/01/1995 Established as Union Pharm Co., Ltd.

04/07/2001 Changed company name to the present name

07/01/2005 Issued Bond with Warrant(BW) amounting of JPY 350,000,000 and 1,000,000,000 KRW

01/25/2006 Increased capital to 2,100,000,000 KRW from 2,00,000,000 KRW

 

 

Products, Technologies, Services Description

 

Main Products & Services

Drugs and Pharmaceutical Products

Anti infective drugs

Central nervous system drugs

 

 

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

 

 

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%)

 

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