MIRA
INFORM REPORT
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Report Date : |
19.05.2007 |
IDENTIFICATION DETAILS
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Name : |
HANDONG CO., LTD. |
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Registered Office : |
472-2, Jung-ri, Dongtan-myeon, Hwaseong-si, Gyeonggi-Do - 445-813 |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
09/28/1973 |
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Legal Form : |
Company Limited by shares |
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Line of Business : |
Manufacture of Animal 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 |
HANDONG CO., LTD. |
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Registered Address/ Factory |
472-2, Jung-ri, Dongtan-myeon,
Hwaseong-si, |
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Zip Code |
445-813 |
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Tel |
+82-31-376-5789 |
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Fax |
+82-31-376-0939 |
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E-mail |
handong@handongvet.co.kr |
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Website |
www.handongvet.co.kr |
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Trading Address/ |
Handong Bldg., 35-4, Geoyeo 2-dong,
Songpa-gu, |
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Tel |
+82-2-406-3511 |
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Fax |
+82-2-406-6388 |
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Yesan Factory |
Sinam Nong Gong Danji, 256-7, Dugok-ri, Sinam-myeon,
Yesan-gun, |
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Tel |
041-332-5833 |
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Fax |
041-332-5441 |
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Type |
Export/Import |
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Industry |
Manufacture of Animal Medicaments |
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Main Business |
Veterinary Products, Feed Additives |
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Established (mm/dd/yyyy) |
09/28/1973 |
The Subject owns the premises of registered
address/factory, Yesan Factory and Seoul Office.
Detailed Products
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09/28/1973 |
09/28/1973 |
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Sell |
Veterinary products(42121600) |
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Sell |
Pet grooming products(10111302) |
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Sell |
Drugs and Pharmaceutical Products(51000000) |
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Sell |
Water treatment consumables(47101600) |
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Sell |
Veterinary nutritional supplement(51250000) |
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Sell |
Air freshener(47131812) |
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Sell |
Veterinary nonsteroidal anti inflammatory drugs VNSAIDs(51142700) |
CEO’s
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Name |
Lee Won-Kyu |
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Address |
2, Ogeum-dong, Songpa-gu, |
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Date of Birth |
12/19/1955 |
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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 |
190,000,000 KRW |
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Employees |
65 |
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Formation |
Co., Ltd by shares |
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Bank Details |
Industrial Bank of Korea-Songpa Branch |
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Corporate Registered No. |
134811-0001230 |
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Business Registered No. |
124-81-05294 |
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Permit & Licenses |
1996 KVGMP Int’l Trade No.: 231666 |
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Shareholder Position |
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Company History |
1969 Established as Sam Poong
Pharmaceutical Company 09/29/1973 Incorporated as the present company
name 12/20/1993
Changed company name to the present name 1998
Designated as a Promising SMEs. 1999 Moved
to the present Seoul Office |
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The Subject manufactures Antibiotics, Hormones, Nutrient, Ointments, Disinfectant and General medication
fro animals and fishes, and also manufactures the soil improvement materials.
Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Day |
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President & CEO |
Mr. |
Lee Won-Kyu |
Male |
Korean |
12/15/2000 |
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Director |
Mr. |
Lee Kyung-Hee |
Male |
Korean |
12/15/2000 |
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Director |
Mr. |
Lee Dae-Kyu |
Male |
Korean |
12/15/2000 |
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Auditor |
Mr. |
Kim Cheon-Mook |
Male |
Korean |
12/15/2003 |
Financials
Unit: KRW
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Year |
Sales |
Assets |
Net income |
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2006 |
7,110,404,998 |
8,588,834,350 |
613,714,715 |
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7,066,671,052 |
8,597,176,515 |
508,539,018 |
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2004 |
6,469,741,987 |
8,387,162,481 |
307,754,771 |
Financial Description
Unit: KRW
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Authorized Capital |
300,000,000 |
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Paid-Up Capital |
190,000,000 |
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Total Issues Shares |
38,000 |
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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 |
8,588,834,350 |
8,597,176,515 |
8,387,162,481 |
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Current Assets |
4,870,813,593 |
4,978,861,996 |
4,476,759,699 |
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-Quick Assets |
3,755,085,546 |
3,582,062,271 |
3,028,409,998 |
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-Inventories |
1,115,728,047 |
1,396,799,725 |
1,448,349,701 |
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Fixed Assets |
3,718,020,757 |
3,618,314,519 |
3,910,402,782 |
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-Investment |
661,353,581 |
565,566,850 |
610,571,540 |
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-Tangibles |
3,055,444,994 |
3,049,907,089 |
3,295,314,118 |
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-Intangibles |
1,222,182 |
2,840,580 |
4,517,124 |
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Total Liabilities |
2,033,279,744 |
2,155,336,624 |
2,153,861,608 |
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Current Liabilities |
1,371,519,744 |
1,317,536,624 |
1,036,410,177 |
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Fixed Liabilities |
661,760,000 |
837,800,000 |
1,117,451,431 |
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Capital Stock |
190,000,000 |
190,000,000 |
190,000,000 |
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Capital Surplus |
- |
- |
- |
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Profit Surplus |
6,365,554,606 |
6,251,839,891 |
6,043,300,873 |
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Capital Adjustment |
- |
- |
- |
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Total Equity |
6,555,554,606 |
6,441,839,891 |
6,233,300,873 |
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Liab. & Shareholder’s Equity |
8,588,834,350 |
8,597,176,515 |
8,387,162,481 |
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Current Liabilities |
1,371,519,744 |
1,317,536,624 |
1,036,410,177 |
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Trade Payables |
142,647,893 |
130,651,675 |
170,592,900 |
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Short-Term Borrowings |
500,000,000 |
511,629,484 |
200,000,000 |
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Account Payables |
97,694,560 |
39,052,069 |
95,339,746 |
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Advance Receipts |
12,318,302 |
15,092,980 |
528,000 |
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Withholdings |
18,570,808 |
21,440,997 |
12,945,232 |
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Accrued Expenses |
109,672,758 |
52,620,539 |
58,868,642 |
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VAT Withholds |
118,626,770 |
102,895,420 |
80,494,795 |
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Accrued Income Tax |
58,948,653 |
122,793,460 |
13,460,862 |
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Current portion of Long-Term Debts |
313,040,000 |
321,360,000 |
404,180,000 |
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Fixed Liabilities |
661,760,000 |
837,800,000 |
1,117,451,431 |
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Long-Term Borrowings |
616,760,000 |
797,800,000 |
1,077,500,000 |
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Provision for Severance & Retirement |
562,329,852 |
462,834,115 |
421,054,894 |
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Deposit for Severance Insurance |
(-)562,329,852 |
(-)462,834,115 |
(-)421,103,463 |
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Leasehold Deposit Received |
45,000,000 |
40,000,000 |
40,000,000 |
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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 |
7,110,404,998 |
7,066,671,052 |
6,469,741,987 |
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Cost of Sold Goods |
3,993,755,215 |
4,253,820,857 |
4,235,116,905 |
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Gross Profit |
3,116,649,783 |
2,812,850,195 |
2,234,625,082 |
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Selling & Admin. Expenses |
2,188,014,886 |
2,088,576,489 |
1,787,866,126 |
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Operating Income |
928,634,897 |
724,273,706 |
446,758,956 |
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Non-Operating Income |
78,127,927 |
112,051,809 |
115,651,290 |
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Non-Operating expenses |
253,252,416 |
152,932,679 |
167,391,595 |
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Ordinary Income |
753,510,408 |
683,392,836 |
395,018,651 |
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Special Income |
- |
- |
- |
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Income Before Taxes |
753,510,408 |
683,392,836 |
395,018,651 |
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Income Taxes Expenses |
139,795,693 |
174,853,818 |
87,263,880 |
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Net Income |
613,714,715 |
508,539,018 |
307,754,771 |
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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 |
434,908,653 |
423,521,673 |
(-)147,425,505 |
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-Net Income |
613,714,715 |
508,539,018 |
307,754,771 |
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-Exp. without Cash Outflow |
469,782,552 |
490,487,247 |
575,748,211 |
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-Revenue without Cash Inflows |
(-)1,373,449 |
(-)23,947,117 |
(-)17,337,644 |
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-Changes in Asset/ & Liability |
(-)647,215,165 |
(-)551,557,475 |
(-)1,013,590,843 |
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Cash Flows from Investing |
(-)270,986,485 |
(-)163,003,425 |
(-)102,107,832 |
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-Cash Inflow from Investing |
2,377,818,951 |
2,102,291,912 |
338,028,252 |
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-Cash Outflows for Investing |
(-)2,648,805,436 |
(-)2,265,295,337 |
(-)440,136,084 |
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Cash Flows from Financing |
(-)142,346,993 |
(-)50,890,516 |
(-)161,833,756 |
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-Cash Inflows from Financing |
1,179,296,655 |
1,249,456,684 |
315,126,244 |
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-Cash Outflows from Financing |
(-)1,321,643,648 |
(-)1,300,347,200 |
(-)476,960,000 |
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Increase/Decrease in Cash |
21,575,175 |
209,627,732 |
(-)411,367,093 |
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Cash at the Beginning of Year |
316,711,657 |
107,083,925 |
518,451,018 |
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Cash at the End of Year |
338,286,832 |
316,711,657 |
107,083,925 |
Products,
Technologies, Services
Description
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Main Products & Services |
Antibiotics Hormones Nutrient Ointments Disinfectant General medication |
Trade Partners
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Suppliers |
Kyowa Hakko Kogyo Co., Ltd.- Miyarisan Pharmaceutical Co., Ltd.- Nippon Kayaku Co., Ltd- Takeda Pharmaceutical Industry Co., Ltd- Troy Laboratories Pty., Ltd.-Australia |
Sales by Region (Activity
& Markets)
The Subject deals with the companies
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 |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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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%)