MIRA
INFORM REPORT
|
Report Date : |
18.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
UNIMED PHARMACEUTICAL INC. |
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Registered Office : |
251, Sirok-dong, Asan-si, Chungcheongnam-do 336-020 |
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Country : |
Korea |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
06.16.1990 |
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Com. Reg. No.: |
312-81-09048 |
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Legal Form : |
Company Limited by Shares |
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Line of Business : |
Manufacture of Medicinal Medicaments |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exists |
Basic
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Company
Name |
UNIMED PHARMACEUTICAL INC. |
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Registered Address |
251, Sirok-dong, Asan-si,
Chungcheongnam-do, Korea |
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Zip Code |
336-020 |
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Tel |
+82-41-537-5500 |
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Fax |
+82-41-537-5511 |
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E-mail |
master@unimed.co.kr |
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Website |
www.unimed.co.kr |
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Trading Address |
Unimed B/D., 250-8, Jamsilbon-dong, Songpa-gu,
Seoul, Korea |
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Tel |
+82-2-2240-5100 |
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Fax |
+82-2-2240-5115 |
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Busan Branch |
#206, Hyundai Tower O/T, 690-4,
Jeonpo-dong, Busanjin-gu, Busan 614-747 Korea |
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Tel |
+82-51-818-1305 |
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Fax |
+82-51-818-1307 |
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Daegu Branch |
2Fl. 401-dong, Bosung Store, Machan
1-dong, Suseong-gu, Daegu 706-021 Korea |
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Tel |
+82-53-754-9074 |
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Gwangju Branch |
4Fl. Sujeong Bldg. 451-17, Unam-dong,
Buk-gu, Gwangju 500-170 Korea |
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Tel |
+82-62-528-5419 |
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Masan Branch |
#401, 4F. Seosang Store, 193-6,
Palyong-dong, Changwon- si, Gyeongnam 641-465 Korea |
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Tel |
+82-55-298-9721 |
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Jeonju Branch |
2Fl. 570-13, Junghwasan-dong 2-ga,
Wansan-gu, Jeonju-Shi, Jeonbuk 560-252 Korea |
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Tel |
+82-63-224-9471 |
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Fax |
+82-63-222-9679 |
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Daejeon Branch |
650-4, Gayang-dong, Dong-gu, Daejeon
300-090 Korea |
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Tel |
+82-42-634-5267 |
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Wonju Branch |
2Fl. 230-9, Usan-dong, Wonju-si, Gangwon
220-130 Korea |
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Tel |
+82-33-744-6311 |
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Fax |
+82-33-744-6312 |
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Type |
Export/Import |
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Industry |
Manufacture of Medicinal Medicaments |
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Main Business |
Medicine |
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Established (mm/dd/yyyy) |
06/16/1990 |
The Subject owns the premises of registered HQ address(7,298㎡).
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Anthelmintics and other
antiparasitics(51101700) |
|
Sell |
Drugs used for respiratory tract
disorders(51161700) |
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Sell |
Vitamin supplements(51191905) |
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Sell |
Ophthalmic(51102400) |
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Sell |
Antidiabetic agents and hyperglycemic
agents(51181500) |
|
Buy |
Non narcotic analgesics and
antipyretics(51142000) |
|
Buy |
Meclozine hydrochloride(51161614) |
|
Buy |
Inorganic metal salts(12352302) |
|
Buy |
Herbal drugs(51212000) |
|
Buy |
Antibiotics(51101500) |
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Buy |
Chemistry reagents or solutions(41116105) |
CEO’s
|
Name |
Kim Keun-Nam |
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Address |
467, Dogok-dong, Gangnam-gu, Seoul, Korea |
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Date of Birth |
11/28/1954 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
|
Capital |
3,300,000,000 KRW |
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Employees |
238 |
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Formation |
Co., Ltd by shares Venture Business |
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Bank Details |
Cho Hung Bank- Samjeon-Dong Branch S.C. First Bank of Korea Hana Bank Kookmin Bank Korea Exchange Bank |
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Corporate Registered No. |
164811-0003519 |
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Business Registered No. |
312-81-09048 |
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Permit & Licenses |
11/25/ 2005 Achieved ISO 9001 : 2000 12/1996 Obtained license of Export/Import cosmetics 10/1991 Obtained manufacture license for
raw materials of medicines Int’l Trade No.: 913245 |
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Shareholder Position |
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Company History |
05/07/2007 Changed company name to the
present name 06/03/2006 Designated as a Venture
Business 11/28/ 2004 Achieved an Award for 1
million USD 1 exporting 06/ 2004 Extended Asan factory 02/04/2004Awarded the prize for
non-accident record fivefold by Korea Occupation & Safety and Healthy
Agency 05/15/ 2002 Established UNIMED
Vietnam Branch office in HoChiMinh, Vietnam 03/10/ 2001 Introduction of ERP system in
the office 03/01/ 2001 Extended Asan factory 01/21/1998 Selected as Small & Medium
enterprise of hopeful export by Korea Government 05/29/1996 Technical tie-up with Dupont
Pharma, U.S.A. 10/22/ 1991 Acquired Manufacturing License
of Raw Materials 10/1991 Acquired approval of Finished Pharmaceutical
Products by Korea MOH and Distribution Acquired license of Finished
Pharmaceutical Products 07/01/1991 Acquired KGMP
Manufacturing Factory 06/16/1990 Incorporated as Charm
PHARM INC. 12/01/1985 Established A-ONE
Medical Supply Inc. (Subsidiary of UNIMED PHARM INC.) |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Day |
|
President & CEO |
Mr. |
Kim Keun-Nam |
Male |
Korean |
08/18/2006 |
|
Director |
M/S. |
Kim Bo-Kyung |
Female |
Korean |
11/23/2006 |
|
Director |
Mr. |
Park Hoon |
Male |
Korean |
11/23/2006 |
|
Auditor |
Mr. |
Yang Dal-Sung |
Male |
Korean |
08/18/2006 |
Financials
Unit: KRW
|
Year |
Sales |
Assets |
Net income |
|
49,351,545,352 |
42,707,474,022 |
7,198,129,043 |
|
|
2006 |
40,679,441,775 |
33,663,087,271 |
5,526,718,195 |
|
2005 |
39,147,078,866 |
33,494,654,973 |
5,189,098,418 |
|
2004 |
35,000,458,676 |
29,967,425,807 |
4,609,798,365 |
|
2003 |
35,241,712,383 |
25,441,743,768 |
5,406,662,473 |
Financial Description
Unit: KRW
|
Authorized
Capital |
10,000,000,000 |
|
Paid-Up
Capital |
3,300,000,000 |
|
Total Issues Shares |
330,000 |
Balance
Sheet
|
Unit : Korean Won |
As of 12/31/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Total Assets |
42,707,474,022 |
33,663,087,271 |
33,494,654,973 |
|
Current Assets |
25,518,507,902 |
21,759,445,022 |
21,276,523,448 |
|
-Quick Assets |
20,614,048,349 |
17,232,424,545 |
17,164,383,169 |
|
-Inventories |
4,904,459,553 |
4,527,020,477 |
4,112,140,279 |
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Fixed Assets |
17,188,966,120 |
11,903,642,249 |
12,218,131,525 |
|
-Investment |
835,040,570 |
521,970,570 |
2,819,168,177 |
|
-Tangibles |
9,439,990,964 |
8,967,139,880 |
9,368,823,130 |
|
-Intangibles |
- |
15,070,109 |
30,140,218 |
|
-Others |
6,913,934,586 |
2,399,461,690 |
- |
|
Total Liabilities |
9,527,564,563 |
6,697,516,855 |
9,104,432,752 |
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Current Liabilities |
9,111,389,073 |
6,269,276,970 |
8,202,661,102 |
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Fixed Liabilities |
416,175,490 |
428,239,885 |
901,771,650 |
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Capital Stock |
3,300,000,000 |
3,300,000,000 |
3,300,000,000 |
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Capital Surplus |
- |
- |
- |
|
Profit Surplus |
29,922,344,459 |
23,708,005,416 |
21,132,657,221 |
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Capital Adjustment |
(-)42,435,000 |
(-)42,435,000 |
(-)42,435,000 |
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Total Equity |
33,179,909,459 |
26,965,570,416 |
24,390,222,221 |
|
Liab. &
Shareholder’s Equity |
42,707,474,022 |
33,663,087,271 |
33,494,654,973 |
|
Current
Liabilities |
9,111,389,073 |
6,269,276,970 |
8,202,661,102 |
|
Trade Payables |
601,005,607 |
741,307,708 |
562,082,296 |
|
Account Payables |
2,630,840,104 |
687,205,255 |
376,825,527 |
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Short-Term Borrowings |
1,916,665,000 |
1,190,915,000 |
3,860,040,000 |
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Withholdings |
262,045,090 |
597,841,230 |
92,370,410 |
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VAT Withhold |
556,853,910 |
466,356,754 |
346,512,004 |
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Advance Receipts |
1,087,084,093 |
966,582,999 |
1,202,668,632 |
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Accrued Income Tax |
1,202,131,670 |
964,443,000 |
1,212,499,178 |
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Accrued Expenses |
787,556,839 |
575,904,224 |
492,634,975 |
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Guarantee Deposit Withhold |
57,000,000 |
50,000,000 |
20,000,000 |
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Current Portion of Long-Term
Account Payables |
10,206,760 |
28,720,800 |
37,028,080 |
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Fixed
Liabilities |
416,175,490 |
428,239,885 |
901,771,650 |
|
Long-Term Borrowings |
- |
- |
500,000,000 |
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Provision for Severance &
Retirement |
416,175,490 |
418,033,125 |
362,844,090 |
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Long-Term Account Payables |
- |
10,206,760 |
38,927,560 |
Income
Statement
|
Unit : Korean Won |
As of 12/31/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Sales |
49,351,545,352 |
40,679,441,775 |
39,147,078,866 |
|
Cost of Sold Goods |
22,294,415,965 |
18,291,198,624 |
19,013,319,988 |
|
Gross Profit |
27,057,129,387 |
22,388,243,151 |
20,133,758,878 |
|
Selling & Admin. Expenses |
15,628,502,758 |
13,866,790,764 |
13,127,989,957 |
|
Operating Income |
11,428,626,629 |
8,521,452,387 |
7,005,768,921 |
|
Non-Operating Income |
212,586,539 |
220,379,457 |
900,192,414 |
|
Non-Operating expenses |
2,463,709,205 |
1,520,064,969 |
1,111,827,339 |
|
Ordinary Income |
9,177,503,963 |
7,221,766,875 |
6,794,133,996 |
|
Special Income |
- |
- |
- |
|
Income Before Taxes |
9,177,503,963 |
7,221,766,875 |
6,794,133,996 |
|
Income Taxes Expenses |
1,979,374,920 |
1,695,048,680 |
1,605,035,578 |
|
Net Income |
7,198,129,043 |
5,526,718,195 |
5,189,098,418 |
Cash
Flows
|
Unit : Korean Won |
As of 12/31/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Cash Flows from Operating |
7,056,815,294 |
8,425,038,503 |
3,425,704,239 |
|
-Net Income |
7,198,129,043 |
5,526,718,195 |
5,189,098,418 |
|
-Exp. without Cash Outflow |
2,476,786,358 |
3,716,151,267 |
3,853,892,820 |
|
-Revenue without Cash Inflows |
(-)35,293,342 |
- |
(-)155,563,001 |
|
-Changes in
Asset/ & Liability |
(-)2,582,806,765 |
(-)817,830,959 |
(-)5,461,723,998 |
|
Cash Flows
from Investing |
(-)7,196,411,356 |
(-)1,641,979,765 |
(-)1,014,216,290 |
|
-Cash Inflow
from Investing |
288,000,000 |
34,024,143 |
1,847,748,879 |
|
-Cash
Outflows for Investing |
(-)7,484,411,356 |
(-)1,676,003,908 |
(-)2,861,965,169 |
|
Cash Flows
from Financing |
(-)293,996,760 |
(-)6,149,215,800 |
(-)1,945,428,272 |
|
-Cash
Inflows from Financing |
700,000,000 |
- |
4,006,035,000 |
|
-Cash
Outflows from Financing |
(-)993,996,760 |
(-)6,149,215,800 |
(-)5,951,463,272 |
|
Increase/Decrease
in Cash |
(-)433,592,822 |
633,842,938 |
466,059,677 |
|
Cash at the
Beginning of Year |
1,439,879,380 |
806,036,442 |
339,976,765 |
|
Cash at the
End of Year |
1,006,286,558 |
1,439,879,380 |
806,036,442 |
Products, Technologies, Services
Description
|
Main
Products & Services |
Anthelmintics Antibiotics Antidiabetic agents and hyperglycemic
agents Chemistry reagents or solutions Drugs and Pharmaceutical Products Drugs used for congestive heart failure Drugs used for respiratory tract disorders Formulas and products for nutritional
support Herbal drugs Inorganic metal salts Meclozine hydrochloride Non narcotic analgesics and antipyretics Ophthalmic Spices or extracts Vitamin supplements |
Trade
Partners
|
Suppliers |
DUPONT PHARMA, U.S.A. |
Related Parties (Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
UNIMED KK CO., LTD.(110111-3693680) (5.0% held by the subject company) |
|
Overseas Office |
VIETNAM BRANCH LOCATION: HOCHIMIN, VIETNAM |
|
Subsidiary |
QUINGDAO UNIMED CO., LTD-CHINA (100% held by the subject company) |
|
Cooperative Enterprise-Insured Company |
SAMSUNG FIRE & MARINE INSURANCE
CO.,LTD.(110111-0005078) |
Sales by
Region (Activity &
Markets)
The Subject exports to Vietnam.
Court
Action
|
Case No. |
Court |
Plaintiff(s)/
Creditor(s)/ Applicant(s) |
Defendant(s)/
Debtor(s)/ Respondent(s) |
Cause |
Amount (Thousand KRW) |
Status |
|
|
|
The Subject Company |
Kumho Pharm. |
Claim for Receivables |
185,394 |
Proceeding |
|
|
|
The Subject Company |
Jeon Dae-Bae and others(1) |
Claim for Receivables |
487,500 |
Proceeding |
|
|
|
The Subject Company |
Lee Joon-Sock and others(1) |
Claim for Receivables |
784,905 |
Proceeding |
|
|
|
The Subject Company |
Park Dong-Kyu and others(1) |
Claim for Receivables |
133,015 |
Proceeding |
|
|
|
The Subject Company |
Yido Pharm and others(2) |
Claim for Receivables |
98,000 |
Proceeding |
|
|
|
The Subject Company |
Youngdong Pharm and others(2) |
Claim for Receivables |
89,210 |
Proceeding |
|
|
|
The Subject Company |
Hajin Medical Foundation |
Claim for Receivables |
72,993 |
Proceeding |
|
|
|
The Subject Company |
Kim Yoon-Hee |
Claim for delayed Receivables |
500,000 |
Proceeding |
News
Clipping
--
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.23 |
|
UK Pound |
1 |
Rs.80.89 |
|
Euro |
1 |
Rs.63.80 |
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. |
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%)