MIRA INFORM REPORT
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Report Date : |
29.07.2011 |
IDENTIFICATION DETAILS
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Name : |
EWHA PHARMTEK CORP. |
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Formerly Known As : |
EWHA PHARMA CORP. |
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Registered Office : |
245-4, Seoam-ri, Tongjin-eup, Gimpo-si, Gyeonggi-do, Korea, Zip
Code 415-866 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
25.05.1982 |
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Com. Reg. No.: |
136-81-05910 |
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Legal Form : |
Co., Ltd 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 : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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South Korea |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Basic
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Company
Name |
EWHA PHARMTEK
CORP. (Korean Company
Name : “이화팜텍(주)”) |
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Registered Address |
245-4, Seoam-ri, Tongjin-eup, Gimpo-si,
Gyeonggi-do, Korea |
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Zip Code |
415-866 |
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Tel |
+82-31-997-8661 |
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Fax |
+82-31-997-8667 |
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E-mail |
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Website |
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Trading Address |
245-4, Seoam-ri, Tongjin-eup, Gimpo-si,
Gyeonggi-do, Korea |
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Tel |
+82-31-997-8661 |
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Fax |
+82-31-997-8667 |
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Type |
Export |
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Industry |
Manufacture of Animal Medicaments |
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Main Business |
Veterinary Growth Promoter, Veterinary Anthelmintics, Veterinary
Disinfectant, Veterinary Antibacterial Agents |
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Established (mm/dd/yyyy) |
05/25/1982 |
The Subject owns
the premises of registered HQ address.
Detailed Products
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Cleaning and disinfecting
solutions(47131800) |
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Sell |
Veterinary products(42121600) |
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Sell |
Veterinary anthelmintics(51102500) |
CEO’s
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Name |
Lee Jung-Hyup |
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Address |
Suite 504-1502, 1267, Pung-dong,
Ilsandong-gu, Goyang-si, Gyeonggi-do, Korea |
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Date of Birth |
02/11/1943 |
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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 (KRW) |
300,000,000 |
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Employees |
40 |
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Formation |
Co., Ltd by Shares |
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Bank Details |
Industrial Bank of Korea-Gumdan Branch Kookmin Bank Hana Bank |
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Corporate Registered No. |
124411-0001222 |
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Business Registered No. |
136-81-05910 |
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Permit & Licenses |
Int’l Trade No.: 21011508 |
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Shareholder Position |
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Company History |
07/04/1977 Established as EWHA PHARMA
INDUSTRY CO.(Sole Proprietorship) 05/25/1982 Incorporated as EWHA PHARMA
CORP. 11/2002 Changed company name to the present
name 11/25/2002 Moved to the present HQ address
from San 237-1, Geumgok-dong, Seo-gu, Incheon, Korea |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
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President & CEO |
Mr. |
Lee Jung-Hyup |
Male |
Korean |
01/07/2000 |
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Director |
Mr. |
Lee Kyu-Hee |
Male |
Korean |
03/31/2007 |
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Auditor |
Mr. |
Jeon Byung-Joon |
Male |
Korean |
03/31/2001 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
9,858,291,488 |
12,447,481,413 |
347,167,881 |
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2009 |
9,280,261,970 |
11,890,606,343 |
311,978,940 |
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2008 |
7,632,385,803 |
11,140,403,490 |
306,588,790 |
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2007 |
5,883,561,464 |
12,189,729,121 |
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Financial Description
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Authorized Capital(KRW) |
400,000,000 |
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Paid-Up Capital(KRW) |
300,000,000 |
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Total Issues Shares |
60,000 |
Balance
Sheet
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Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
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Total Assets |
12,447,481,413 |
11,890,606,343 |
11,140,403,490 |
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Current Assets |
5,903,869,339 |
5,346,951,961 |
8,448,752,656 |
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-Quick Assets |
3,485,461,940 |
3,217,692,453 |
6,196,974,256 |
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-Inventories |
2,418,407,399 |
2,129,259,508 |
2,251,778,400 |
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Fixed Assets |
6,543,612,074 |
6,543,654,382 |
2,691,650,834 |
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-Investment |
1,562,233,118 |
1,437,841,653 |
1,145,764,248 |
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-Tangibles |
4,971,028,290 |
5,095,286,729 |
1,540,257,456 |
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-Intangibles |
10,350,666 |
10,526,000 |
5,629,130 |
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Total Liabilities |
3,175,315,110 |
3,078,008,433 |
2,889,581,638 |
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Current Liabilities |
2,787,815,110 |
2,705,293,015 |
2,513,170,518 |
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Fixed Liabilities |
387,500,000 |
372,715,418 |
376,411,120 |
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Capital Stock |
300,000,000 |
300,000,000 |
300,000,000 |
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Capital Surplus |
- |
- |
- |
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Profit Surplus |
8,863,442,509 |
8,516,274,628 |
8,204,295,688 |
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Capital Adjustment |
108,723,794 |
-3,676,718 |
-253,473,836 |
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Total Equity |
9,272,166,303 |
8,812,597,910 |
8,250,821,852 |
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Liab. &
Shareholder’s Equity |
12,447,481,413 |
11,890,606,343 |
11,140,403,490 |
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Current
Liabilities |
2,787,815,110 |
2,705,293,015 |
2,513,170,518 |
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Trade Payables |
785,820,167 |
495,229,240 |
594,153,215 |
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Account Payables |
612,793,439 |
268,003,567 |
289,081,925 |
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Withholdings |
14,218,962 |
11,098,147 |
10,045,644 |
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VAT Withhold |
100,975,044 |
82,176,937 |
67,372,696 |
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Short-Term Borrowings |
940,000,000 |
1,290,000,000 |
1,090,151,600 |
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Accrued Income Tax |
25,290,414 |
27,957,304 |
19,762,059 |
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Accrued Expenses |
2,917,084 |
3,946,330 |
3,676,889 |
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Current Portion of Long-Term Debts |
150,000,000 |
358,700,000 |
221,200,000 |
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Short-Term Borrowings to Shareholders/
Executives/ Employees |
155,800,000 |
168,181,490 |
217,726,490 |
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Fixed
Liabilities |
387,500,000 |
372,715,418 |
376,411,120 |
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Long-Term Borrowings |
387,500,000 |
187,500,000 |
271,200,000 |
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Provision for Severance & Retirement |
1,336,370 |
200,011,583 |
119,449,487 |
Income
Statement
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Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
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Sales |
9,858,291,488 |
9,280,261,970 |
7,632,385,803 |
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Cost of Sold Goods |
7,162,347,016 |
7,096,257,056 |
5,451,334,927 |
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Gross Profit |
2,695,944,472 |
2,184,004,914 |
2,181,050,876 |
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Selling & Admin. Expenses |
2,130,033,458 |
1,792,135,955 |
1,943,745,273 |
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Operating Income |
565,911,014 |
391,868,959 |
237,305,603 |
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Non-Operating Income |
102,224,754 |
153,323,268 |
385,241,043 |
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Non-Operating Expenses |
280,419,603 |
199,818,323 |
275,852,377 |
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Income Before Taxes |
387,716,165 |
345,373,904 |
346,694,269 |
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Income Taxes Expenses |
40,548,284 |
33,394,964 |
40,105,479 |
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Net Income |
347,167,881 |
311,978,940 |
306,588,790 |
Cash
Flows
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Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
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Cash Flows from Operating |
447,183,722 |
677,220,511 |
-1,942,017,838 |
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-Net Income |
347,167,881 |
311,978,940 |
306,588,790 |
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-Exp. without Cash Outflow |
218,546,762 |
390,672,149 |
380,993,336 |
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-Sale without Cash Inflows |
-3,876,626 |
-1,775,553 |
-60,669,869 |
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-Changes in Asset/ & Liability |
-114,654,295 |
-23,655,025 |
-2,568,930,095 |
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Cash Flows from Investing |
-35,389,642 |
-855,800,234 |
492,755,678 |
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-Cash Inflow from Investing |
162,745,752 |
2,865,770,817 |
3,081,090,837 |
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-Cash Outflows for Investing |
-198,135,394 |
-3,721,571,051 |
-2,588,335,159 |
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Cash Flows from Financing |
-363,983,616 |
204,103,400 |
539,194,030 |
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-Cash Inflows from Financing |
357,097,874 |
337,348,400 |
767,875,330 |
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-Cash Outflows from Financing |
-721,081,490 |
-133,245,000 |
-228,681,300 |
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Increase/Decrease in Cash |
47,810,464 |
25,523,677 |
-910,068,130 |
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Cash at the Beginning of Year |
210,984,807 |
185,461,130 |
1,095,529,260 |
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Cash at the End of Year |
258,795,271 |
210,984,807 |
185,461,130 |
Products, Technologies, Services Description
|
Main Products & Services |
Veterinary Growth Promoter, Veterinary Anthelmintics, Veterinary
Disinfectant, Veterinary Antibacterial Agents |
Trade Partners & Competitors
|
Competitors |
WOOSUNG CO., LTD. 33-19,
TOYANG-RI, EUNJIN-MYEON, NONSAN-SI, CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-741-7836~40 FAX:+82-41-742-6205 GREEN CROSS VETERINARY PRODUCTS CO., LTD. SINAM NONGGONG DANJI, 254, DUGOK-RI,
SINAM-MYEON, YESAN-GUN, CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-332-6346~7 FAX:+82-41-332-6348 VIXXOL CORPORATION 220-10, ANYANG 7-DONG, MANAN-GU, ANYANG-SI,
GYEONGGI-DO, KOREA TEL:+82-31-467-6767 FAX:+82-31-468-1502 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Cooperative Enterprise |
-Insured Company DONGBU INSURANCE CO., LTD.(110111-0095285) |
Sales by Region
(Activity & Markets)
The Subject exports
to Bangladeshi, France, Germany, Japan and Netherlands.
Court Action
Not Available.
News Clipping
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FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.13 |
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UK Pound |
1 |
Rs.72.05 |
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Euro |
1 |
Rs.63.33 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.