MIRA
INFORM REPORT
|
Report Date : |
29.11.2008 |
IDENTIFICATION
DETAILS
|
Name : |
HWAIL PHARM.
CO., LTD. |
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Registered Office : |
904-7, Sangsin-ri, Hyangnam-eup, Hwaseong-si, Gyeonggi-do, 445-937 |
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Country : |
Korea |
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Financials (as on) : |
30.09.2008 |
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Date of Incorporation : |
18.11.1980 |
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Com. Reg. No.: |
124-81-27624 |
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Legal Form : |
Listed Company |
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Line of Business : |
Manufacture of Medicinal Chemicals and Antibiotics |
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 |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Basic
|
Company
Name |
HWAIL PHARM.
CO., LTD. (Korean Company
Name : “화일약품”) |
|
Registered
Address/ Hyangnam Factory |
904-7, Sangsin-ri, Hyangnam-eup,
Hwaseong-si, Gyeonggi-do, Korea |
|
Zip Code |
445-937 |
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Tel |
+82-31-353-4101 |
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Fax |
+82-31-353-9219 |
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E-mail |
hwail@hwail.co.kr; james@hwail.com |
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Website |
www.hwail.com |
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Trading Address |
776-12, Yeoksam-dong, Gangnam-gu, Seoul,
Korea |
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Tel |
+82-2-512-2592 |
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Fax |
+82-2-511-6954 |
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Other Address-Banwol Factory |
454-3, Mongnae-dong, Danwon-gu, Ansan-si,
Gyeonggi-do, Korea |
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Tel |
+82-31-491-4042 |
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Fax |
+82-31-491-4045 |
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Type |
Export/Import |
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Industry |
Manufacture of Medicinal Chemicals and Antibiotics |
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Main
Business |
Pharmaceutical Raw Materials, Analgesics, Food Additives |
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Established (mm/dd/yyyy) |
11/18/1980 |
The Subject owns
the premises of registered HQ Address/ Hyangnam
Factory(4,961.60㎡), Trading Address (404.80㎡) and Banwol Factory (3,740.90㎡).
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Formulas and products for nutritional
support(42231800) |
|
Sell |
Herbal drugs(51212000) |
|
Sell |
Shelf stable vegetables(50101540) |
|
Sell |
Cereal flour(50221102) |
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Sell |
Mushrooms or fungi(50101541) |
CEO’s
|
Name |
Lee Jung-Kyu |
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Date of Birth |
09/17/1947 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
|
Capital |
5,587,834,000 KRW |
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Employees |
76 |
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Formation |
Listed Company (KOSDAQ:061250) as of 04/17/2002 |
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Bank Details |
Citibank, Korea-Yeoksam Station Branch Korea Exchange Bank-Dogokro Branch Hana Bank-Jeki Dong Branch Industrial Bank of Korea-Seocho Nam Branch |
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Corporate Registered No. |
134411-0000719 |
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Business Registered No. |
124-81-27624 |
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Permit & Licenses |
Int’l Trade No.: 542269 |
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Shareholder Position |
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Company History |
05/1974 Established as JEIL PHARM. CO. 11/18/1980 Incorporated as the present name 06/2001 Designated as a Promising SME by
Gyeonggi Province, Korea 10/2001 Completed BGMP Facilties 04/17/2002 Listed at KOSDAQ Market |
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The Subject Company
is a company engaged in the provision of pharmaceutical products. The Company produces
and markets pharmaceutical raw materials with an annual production capacity of
4,198,000 kilograms. Its offering includes pharmaceutical raw materials
including acemetacin, oxatomide, phloro glucin, talniflumate, triflusal,
gallamine triethyl iodide, alibendol erdostein and others; finished
formulation, consisting of oral product such as cefaclor and cefadroxil, and
injection products such as cefazedone sodium and ceftezole sodium, and food
ingredients including citrus powder, citric acid, bilberry extracts, taurine,
mixed scorched rice flavor and ginseng extracts powder, among others. On
October 14, 2008, the Company acquired 88.45% of a Korea-based company, which
is mainly engaged in the medicines and health food businesses.
Management
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
President & CEO |
Mr. |
Lee Jung-Kyu |
Korean |
1947. 09. 17 |
Myungji University, Korea |
|
Vice President |
Mr. |
Park Phil-Joon |
Korean |
1960. 09. 22 |
- |
|
Auditor |
Mr. |
Jung Soon-Hee |
Korean |
1950. 03. 04 |
- |
|
Sr. Executive Director |
Mr. |
Jung Young-Cheol |
Korean |
1956. 02. 01 |
Gyungbuk National University, Korea |
|
Outside Director |
Mr. |
Park Young-Hwan |
Korean |
1949. 08. 15 |
Myungji University, Korea |
Financials
Unit: KRW
|
Year |
Sales |
Assets |
Net income |
|
60,287,772,247 |
57,760,360,949 |
4,929,631,959 |
|
|
2006 |
54,900,919,914 |
56,401,487,368 |
4,509,130,859 |
|
2005 |
52,921,707,173 |
46,115,581,223 |
4,733,147,756 |
|
2004 |
49,767,669,954 |
40,824,313,435 |
4,008,977,573 |
Financial Description
Unit: KRW
|
Authorized
Capital |
50,000,000,000 |
|
Paid-Up
Capital |
5,587,834,000 |
|
Total Issues Shares |
11,175,668 |
Balance
Sheet
|
Unit : Korean Won |
01/01/2008~09/30/2008 |
As of 12/31/2007 |
As of 12/31/2006 |
|
Total Assets |
66,799,566,866 |
57,760,360,949 |
56,401,487,368 |
|
Current Assets |
46,937,549,948 |
41,137,763,524 |
43,353,240,724 |
|
-Quick Assets |
27,488,839,303 |
25,497,111,843 |
33,359,988,337 |
|
-Inventories |
19,448,710,645 |
15,640,651,681 |
9,993,252,387 |
|
Fixed Assets |
19,862,016,918 |
16,622,597,425 |
13,048,246,644 |
|
-Investment |
2,437,828,257 |
1,582,469,002 |
1,297,003,660 |
|
-Tangibles |
16,679,921,422 |
14,335,175,360 |
11,580,246,471 |
|
-Intangibles |
146,783,729 |
107,469,553 |
155,914,053 |
|
-Others |
597,483,510 |
597,483,510 |
15,082,460 |
|
Total Liabilities |
18,677,789,615 |
12,330,392,029 |
10,579,498,414 |
|
Current Liabilities |
15,329,103,925 |
8,844,112,533 |
10,034,181,654 |
|
Fixed Liabilities |
3,348,685,690 |
3,486,279,496 |
545,316,760 |
|
Capital Stock |
5,587,834,000 |
5,587,834,000 |
5,587,834,000 |
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Capital Surplus |
12,485,740,439 |
12,485,740,439 |
11,695,668,172 |
|
Profit Surplus |
34,533,349,092 |
31,841,540,761 |
28,587,056,752 |
|
Capital Adjustment |
(-)4,485,146,280 |
(-)4,485,146,280 |
(-)48,569,970 |
|
Total Equity |
48,121,777,251 |
45,429,968,920 |
45,821,988,954 |
|
Liab. & Shareholder’s Equity |
66,799,566,866 |
57,760,360,949 |
56,401,487,368 |
|
Current
Liabilities |
15,329,103,925 |
8,844,112,533 |
10,034,181,654 |
|
Trade Payables |
4,543,120,679 |
3,186,022,283 |
6,952,450,043 |
|
Short-Term Borrowings |
9,001,731,654 |
1,691,926,370 |
1,393,188,365 |
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Short-Term Borrowings-Foreign
Currency |
129,398,849 |
1,832,123,736 |
- |
|
Account Payables |
334,790,016 |
590,718,013 |
579,845,781 |
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Advance Receipts |
3,317,720 |
243,719,380 |
1,215,985 |
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Withholdings |
104,814,281 |
95,417,890 |
98,678,710 |
|
Accrued Expenses |
- |
51,546,179 |
145,085,439 |
|
Accrued Income Tax |
961,829,265 |
999,408,251 |
568,703,507 |
|
VAT Withhold |
250,101,461 |
153,230,431 |
295,013,824 |
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Fixed
Liabilities |
3,348,685,690 |
3,486,279,496 |
545,316,760 |
|
Long-Term Borrowings |
2,915,460,000 |
2,915,460,000 |
- |
|
Leasehold Deposit Received |
410,000,000 |
410,000,000 |
420,000,000 |
|
Deferred Income Tax Credit |
23,225,690 |
160,819,496 |
125,316,760 |
Income
Statement
|
Unit : Korean Won |
01/01/2008~09/30/2008 |
As of 12/31/2007 |
As of 12/31/2006 |
|
Sales |
45,686,251,049 |
60,287,772,247 |
54,900,919,914 |
|
Cost of Sold Goods |
37,315,815,976 |
49,506,647,174 |
44,641,750,280 |
|
Gross Profit |
8,370,435,073 |
10,781,125,073 |
10,259,169,634 |
|
Selling & Admin. Expenses |
2,986,692,617 |
3,799,286,227 |
3,340,858,865 |
|
Operating Income |
5,383,742,456 |
6,981,838,846 |
6,918,310,769 |
|
Non-Operating Income |
1,374,852,528 |
1,024,681,689 |
531,073,663 |
|
Non-Operating expenses |
1,259,457,714 |
1,441,873,299 |
1,543,982,641 |
|
Ordinary Income |
5,499,137,270 |
6,564,647,236 |
5,905,401,791 |
|
Special Income |
- |
- |
- |
|
Income Before Taxes |
5,499,137,270 |
6,564,647,236 |
5,905,401,791 |
|
Income Taxes Expenses |
1,187,531,439 |
1,635,015,277 |
1,396,270,932 |
|
Net Income |
4,311,605,831 |
4,929,631,959 |
4,509,130,859 |
Cash
Flows
|
Unit : Korean Won |
01/01/2008~09/30/2008 |
As of 12/31/2007 |
As of 12/31/2006 |
|
Cash Flows from Operating |
1,665,068,431 |
820,023,504 |
1,475,785,216 |
|
-Net Income |
4,311,605,831 |
4,929,631,959 |
4,509,130,859 |
|
-Exp. without Cash Outflow |
1,166,713,782 |
1,364,155,423 |
1,353,683,733 |
|
-Revenue
without Cash Inflows |
(-)114,526,607 |
(-)239,880,669 |
(-)439,492,592 |
|
-Changes in
Asset/ & Liability |
(-)3,698,724,575 |
(-)5,233,883,209 |
(-)3,947,536,784 |
|
Cash Flows
from Investing |
(-)5,259,062,990 |
(-)790,625,401 |
(-)4,730,201,823 |
|
-Cash Inflow
from Investing |
3,888,394,463 |
16,366,610,464 |
18,660,756,336 |
|
-Cash
Outflows for Investing |
(-)9,147,457,453 |
(-)17,157,235,865 |
(-)23,390,958,159 |
|
Cash Flows
from Financing |
3,711,738,218 |
(-)279,509,268 |
2,408,765,810 |
|
-Cash
Inflows from Financing |
34,324,200,909 |
43,426,322,538 |
24,738,563,953 |
|
-Cash
Outflows from Financing |
(-)30,612,462,691 |
(-)43,705,831,806 |
(-)22,329,798,143 |
|
Increase/Decrease in Cash |
117,743,659 |
(-)250,111,165 |
(-)845,650,797 |
|
Cash at the Beginning of Year |
1,160,623,129 |
1,410,734,294 |
2,256,385,091 |
|
Cash at the End of Year |
1,278,366,788 |
1,160,623,129 |
1,410,734,294 |
Products, Technologies, Services
Description
|
Main
Products & Services |
Pharmaceutical Raw Materials, Analgesics, Food Additives -Acemetacin -Oxatomide -Phloro Glucin -Talniflumate -Triflusal -Gallamine
Triethyl Iodide -Alibendol
Erdostein -Others Brand Name : LVSP, TNFL, ACCL, TRPR, LTBF |
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Annual
production Capacity (Unit: Kg) |
|
Trade
Partners
|
Customers |
Major Pharmaceutical Manufacturing Companies |
|
Competitors |
DAEBONGLSCO.,LTD(124311-0016976) 122B-9L, NAMDONG INDUSTRIAL COMPLEX, 692-8,
GOJAN-DONG, NAMDONG-GU, INCHEON, KOREA TEL:+82-32-817-8800~7 FAX:+82-32-817-8808 ESTECHPHARMA CO., LTD(135111-0047782) 34-10B, BARAN LOCAL INDUSTRIAL COMPLEX,
1407-9, HAGIL-RI, HYANGNAM-EUP, HWASEONG-SI, GYEONGGI-DO, KOREA TEL:+82-31-831-4800 FAX:+82-31-831-4801 HANMIFINECHEMICAL CO.,LTD.(131111-0005106) 1248-8, JEONGWANG 2-DONG, SIHEUNG-SI,
GYEONGGI-DO, KOREA TEL:+82-31-499-2541 FAX:+82-31-499-2540 DAEWOONG BIO INC.(131112-0004827) 906-5, SANGSIN-RI, HYANGNAM-EUP,
HWASEONG-SI, GYEONGGI-DO, KOREA TEL:+82-31-353-5271~3 FAX:+82-31-353-5626 |
Related Parties (Subsidiaries,
Joint-Venture & Affiliates)
|
Subsidiary |
ECO P&F CO., LTD.(110111-3951848) (100.0% held by the subject company) 776-12, YEOKSAM-DONG, GANGNAM-GU, SEOUL, KOREA |
|
Cooperative Enterprise |
-Insured Company GREEN NON-LIFE INSURANCE CO.,
LTD(110111-0007082) |
Sales by
Region (Activity &
Markets)
|
Sales/ Unit :Mil KRW |
2007 |
2006 |
2005 |
|
Export |
390,000,990 |
- |
- |
|
Domestic |
59,897,771,257 |
54,900,919,914 |
52,921,707,173 |
|
Total |
60,287,772,247 |
54,900,919,914 |
52,921,707,173 |
The Subject exports
to China and India, and it imports from USA, Japan and Europe.
Court
Action
No.
News
Clipping
--
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.84 |
|
UK Pound |
1 |
Rs.76.81 |
|
Euro |
1 |
Rs.64.38 |
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%)