MIRA
INFORM REPORT
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Report Date : |
04.09.2007 |
IDENTIFICATION
DETAILS
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Name : |
SAMCHULLY
PHARM. CO., LTD. |
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Registered Office : |
8th Fl., Samtan Bldg., 947-7, Daechi 3-dong, Gangnam-gu, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
06/11/1949 |
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Legal Form : |
Company Limited by shares |
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Line of Business : |
Manufacture of Medicinal Chemicals and Antibiotics |
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 : |
Usually correct |
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Litigation : |
Clear |
Basic
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Company
Name |
SAMCHULLY PHARM. CO., LTD. |
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Registered Address |
947-7, Daechi 3-dong, Gangnam-gu, |
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Building |
8th Fl., Samtan Bldg. |
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Zip Code |
135-735 |
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Tel |
+82-2-527-6300 |
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Fax |
+82-2-561-6006 |
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E-mail |
info@samchullypharm.com;
reagent@samchullypharm.com;chem@samchullypharm.com |
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Website |
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Trading Address |
8th Fl., Samtan Bldg., 947-7, Daechi
3-dong, Gangnam-gu, |
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Tel |
+82-2-527-6300 |
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Fax |
+82-2-561-6006 |
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Sihwa Factory |
1Na-802, Sihwa Industrial Complex, 1241-2,
Jeongwang 2-dong, Siheung-si, |
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Tel |
+82-31-499-3002 |
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Fax |
+82-31-498-3001 |
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Type |
Export |
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Industry |
Manufacture of Medicinal Chemicals and Antibiotics |
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Main Business |
Active Pharmaceuticals, Nucleosides, Nucleotides, Chiral Building
Blocks, Amino Acids, Specialty Enzymes, Oligonucleotides |
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Established (mm/dd/yyyy) |
06/11/1949 |
Detailed Products
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Drugs and Pharmaceutical Products(51000000) |
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Sell |
Cough and cold and antiallergy
products(51161800) |
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Sell |
Drugs used for respiratory tract
disorders(51161700) |
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Sell |
Diuretics(51191500) |
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Sell |
Drugs used for gallbladder disease(51172000) |
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Sell |
Dietary supplements and nutritional therapy
products(51191900) |
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Sell |
Actual pharmaceutical ingredients |
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Sell |
DMT Protected Nucleosides |
CEO’s
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Name |
Kim Tae-Sung |
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Address |
1146-11, Seocho-dong, Seocho-gu, |
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Date of Birth |
08/17/1945 |
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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 |
14,076,000,000 KRW |
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Employees |
140 |
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Formation |
Co., Ltd by shares A Company of SAMCHULLY BUSINESS GROUP |
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Bank Details |
Shinhan Bank-Samsung Station Branch |
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Corporate Registered No. |
110111-0017635 |
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Business Registered No. |
120-81-18216 |
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Permit & Licenses |
03/24/2000 ISO 9002 03/24/2000 ISO 14001 Int’l Trade No.: 521819 |
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Shareholder Position |
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Company History |
Aug. 2006 Approved for Zidovudine from
TGA(Austrailia) Jul. 2006 Disposed of Finished
Pharmaceutical Division to Chunggye Pharm. Co., Ltd. amounting 6,050,000,000
KRW Apr. 2006 Site Approved by the Jan. 2006 Approved for Zidovudine from
PMDA( Jun. 2003
Completed Oligonucleotide manufacturing facility Jun. 2003
Awarded IR52 (purine nucleoside) from KOITA Jun. 2000
Won the Diamond Prize in the World Best Awards from KMA Submitted DMF
Type II for Acyclovir to the May. 2000 Approved CEP for ZIdovudine
(RO-CEP 1998-117) from the EDQM Mar. 2000
Registered ISO 9002 and 14001Awarded from Korea Ministry of the
Finance & Economy Jun. 1999
Received Economic Value Management Award from KMA ( Oct. 1998
Submitted CEP for ZIdovudine (RO-CEP 1998-117) to the EDQM (European
Directorate for the Quality of Medicines)
Sep. 1998
Submitted DMF Type II for Zidovudine to the US FDA (DMF No.13181)Sihwa
factory certified as BGMP (Bulk GMP, Korea FDA No. 2) May. 1998
Completed Plant 5 at Sihwa Nov. 1997
Won $50 Million-Export Trophy Awarded the Silver Industrial Trophy
from the Korean Government Apr. 1997
Completed Plant 3 at Sihwa Nov. 1994
Won $10 Million-Export Trophy Feb. 1994
Factory Completed at Sihwa, Feb. 1994
Submitted DMF Type I (Facilities of Sihwa factory) to the US FDA (DMF
No. 10734) Jul. 1992
Established Jan. 1992
Approved as KGMP (Korean GMP) Company
Nov. 1990
Won $1 Million-Export Trophy Mar. 1988
Factory Completed for API manufacturing at Yanggam, Gyunggi-do, Korea.Began
to provide Thymidine to the Glaxo Wellcome Inc. (current GSK). Jan. 1988
Factory Expansion for formulation for injection and antibiotics at
Yanggam, Gyunggi-do, Sep. 1987
Developed & produced anti-AIDS Zidovudine (1st in Sep. 1985
Factory Built for drug formulation at Yanggam, Feb. 1985
Changed as Samchully Pharmaceutical Company, Ltd. Aug. 1983
Samchully Group Acquired Samchuk Coal Mine Development Co. 1949
Incorporated as Shinkwang Pharmaceutical Industry Co., Ltd. |
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The Subject is a
pharmaceutical manufacturing company in the process development for offering
the pharmaceutical chemicals, especially in the field of nucleosides and its
biotechnological and pharmaceutical applications.
Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Day |
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President & CEO |
Mr. |
Kim Tae-Sung |
Male |
Korean |
03/02/1994 |
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Director |
Mr. |
Lee Man-Deuk |
Male |
Korean |
03/05/1993 |
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Director |
Mr. |
Yu Sang-Duck |
Male |
Korean |
03/05/1993 |
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Director |
Mr. |
Kim Kyung-Il |
Male |
Korean |
03/23/2006 |
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Auditor |
Mr. |
Kang Byung-Il |
Male |
Korean |
03/14/2002 |
Financials
Unit: KRW
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Year |
Sales |
Assets |
Net income |
|
49,787,770,929 |
97,815,849,395 |
2,380,866,539 |
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2005 |
40,180,361,322 |
96,074,435,555 |
5,184,944,792 |
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2004 |
30,813,030,063 |
93,856,296,639 |
1,198,993,371 |
Financial Description
Unit: KRW
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Authorized Capital |
50,000,000,000 |
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Paid-Up Capital |
14,076,000,000 |
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Total Issues Shares |
2,815,200 |
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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 |
97,815,849,395 |
96,074,435,555 |
93,856,296,639 |
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Current Assets |
56,384,444,143 |
49,521,306,212 |
47,540,793,375 |
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-Quick Assets |
39,509,958,060 |
34,353,874,690 |
25,643,041,413 |
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-Inventories |
16,874,486,083 |
15,167,431,522 |
21,897,751,962 |
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Fixed Assets |
41,431,405,252 |
46,553,129,343 |
46,315,503,264 |
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-Investment |
20,694,161,154 |
21,947,403,989 |
23,334,954,618 |
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-Tangibles |
15,438,419,895 |
18,356,854,610 |
17,960,345,870 |
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-Intangibles |
5,298,824,203 |
6,248,870,744 |
5,020,202,776 |
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Total Liabilities |
6,580,575,649 |
5,108,628,348 |
5,964,034,224 |
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Current Liabilities |
5,241,427,744 |
3,085,977,109 |
3,669,370,899 |
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Fixed Liabilities |
1,339,147,905 |
2,022,651,239 |
2,294,663,325 |
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Capital Stock |
14,076,000,000 |
14,076,000,000 |
14,076,000,000 |
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Capital Surplus |
3,671,710,025 |
3,671,710,025 |
3,671,710,025 |
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Profit Surplus |
73,487,563,721 |
73,218,097,182 |
70,144,552,390 |
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Capital Adjustment |
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Total Equity |
91,235,273,746 |
90,965,807,207 |
87,892,262,415 |
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Liab. & Shareholder’s Equity |
97,815,849,395 |
96,074,435,555 |
93,856,296,639 |
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Current
Liabilities |
5,241,427,744 |
3,085,977,109 |
3,669,370,899 |
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Trade Payables |
2,329,483,600 |
1,036,422,890 |
649,201,206 |
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Short-Term Borrowings |
1,056,995,423 |
556,950,313 |
2,325,463,260 |
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Account Payables |
728,187,005 |
392,668,805 |
431,710,396 |
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Advance Receipts |
9,218,000 |
- |
7,889,480 |
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Withholdings |
121,157,826 |
147,701,066 |
172,034,466 |
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Accrued Expenses |
231,745,577 |
114,477,595 |
83,072,091 |
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Accrued Income Tax |
506,509,201 |
808,906,772 |
- |
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Current Portion of Deferred Income Tax
Credit |
257,911,141 |
26,482,846 |
- |
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Others |
219,971 |
2,366,822 |
- |
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Fixed
Liabilities |
1,339,147,905 |
2,022,651,239 |
2,294,663,325 |
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Non-Current Deferred Income Tax Credit |
1,122,378,271 |
1,861,574,655 |
2,267,893,675 |
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Provision for Severance & Retirement |
216,769,634 |
161,076,584 |
26,769,650 |
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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 |
49,787,770,929 |
40,180,361,322 |
30,813,030,063 |
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Cost of Sold Goods |
41,954,018,348 |
32,907,766,692 |
24,761,164,580 |
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Gross Profit |
7,833,752,581 |
7,272,594,630 |
6,051,865,483 |
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Selling &
Admin. Expenses |
6,514,458,762 |
6,408,281,579 |
5,997,505,204 |
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Operating Income |
1,319,293,819 |
864,313,051 |
54,360,279 |
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Non-Operating Income |
4,416,411,735 |
7,260,590,826 |
2,754,120,402 |
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Non-Operating expenses |
2,810,962,773 |
2,286,907,290 |
1,606,668,639 |
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Ordinary Income |
2,924,742,781 |
5,837,996,587 |
1,201,812,042 |
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Special Income |
- |
- |
- |
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Income Before Taxes |
2,924,742,781 |
5,837,996,587 |
1,201,812,042 |
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Income Taxes Expenses |
543,876,242 |
653,051,795 |
2,818,671 |
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Net Income |
2,380,866,539 |
5,184,944,792 |
1,198,993,371 |
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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 |
1,540,984,088 |
13,173,891,279 |
7,473,187,139 |
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-Net Income |
2,380,866,539 |
5,184,944,792 |
1,198,993,371 |
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-Exp. without Cash Outflow |
6,706,458,836 |
3,920,076,805 |
4,810,329,401 |
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-Revenue
without Cash Inflows |
(-)1,061,531,938 |
(-)106,329,332 |
(-)452,439,434 |
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-Changes in
Asset/ & Liability |
(-)6,484,809,349 |
4,175,199,014 |
1,916,303,801 |
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Cash Flows
from Investing |
(-)4,298,873,734 |
(-)11,495,607,502 |
3,350,562,149 |
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-Cash Inflow
from Investing |
45,678,455,194 |
7,218,120,032 |
19,709,314,880 |
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-Cash
Outflows for Investing |
(-)49,977,328,928 |
(-)18,713,727,534 |
(-)16,358,752,731 |
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Cash Flows
from Financing |
(-)1,611,354,890 |
(-)3,879,912,947 |
(-)8,140,368,604 |
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-Cash
Inflows from Financing |
6,969,977,466 |
10,660,944,144 |
9,247,015,453 |
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-Cash
Outflows from Financing |
(-)8,581,332,356 |
(-)14,540,857,091 |
(-)17,387,384,057 |
|
Increase/Decrease in Cash |
(-)4,369,244,536 |
(-)2,201,629,170 |
2,683,380,684 |
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Cash at the Beginning of Year |
8,564,080,225 |
10,765,709,395 |
8,082,328,711 |
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Cash at the End of Year |
4,194,835,689 |
8,564,080,225 |
10,765,709,395 |
Products, Technologies,
Services
Description
|
Main Products & Services |
Active Pharmaceuticals (APIs) Nucleosides & Nucleotides (DNAs, RNAs,
Arabinosides, PNAs, L-nucleosides) Chiral Building Blocks Bases & Sugars (Purines, pyrimidines,
carbohydrates) Others Oligonucleotide |
Trade Partners
|
Customers |
GlaxoSmithKline-UK, Bristol-Myers
Squibb’s-USA, Avecia, ISIS |
Related Parties
(Subsidiaries, Joint-
Venture &
Affiliates)
|
Affiliates |
SAMTAN CO., LTD. SAMCHULLY CO., LTD. SAMCHULLY SAMCHULLY ENG SAMCHULLY ES SAMCHULLY HEAT TREATMENT CO., LTD. MISUNG COMMERCIAL CO., LTD. |
Sales by Region (Activity
& Markets)
The Subject exports to
Court Action
No.
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 |
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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. |
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%)