MIRA INFORM
REPORT
|
Report Date : |
29.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
DONGKOOK PHARMACEUTICAL CO., LTD. |
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Registered Office : |
997-8, Daechi 2-dong, Gangnam-gu, Seoul, Korea, Dongkook Bldg., Zip Code 135-502 |
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Country : |
South Korea |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
15.10.1968 |
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Com. Reg. No.: |
120-81-22608 |
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Legal Form : |
Listed Company |
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Line of Business : |
Manufacturer of Finished Medicaments |
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 |
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Status : |
Good |
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Payment
Behaviour : |
Usually Correct |
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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
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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South Korea |
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
|
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 |
DONGKOOK
PHARMACEUTICAL CO., LTD. (Korean Company
Name : “동국제약(주)”) |
|
Registered Address |
997-8, Daechi 2-dong, Gangnam-gu, Seoul,
Korea |
|
Building |
Dongkook Bldg. |
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Zip Code |
135-502 |
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Tel |
+82-2-2191-9800 |
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Fax |
+82-2-2191-9894 |
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E-mail |
ykh@dkpharm.co.kr |
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Website |
|
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Trading Address |
Dongkook Bldg., 997-8, Daechi 2-dong,
Gangnam-gu, Seoul, Korea |
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Tel |
+82-2-2191-9800 |
|
Fax |
+82-2-566-8542 +82-2-569-4025 |
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Other Address-Factory |
488-5, Jukhyeon-ri, Gwanghyewon-myeon, Jincheon-gun,
Chungcheongbuk-do, Korea |
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Tel |
+82-43-530-0121 |
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Fax |
+82-43-535-2840 |
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Other Address-R&D Center |
9FL., Gyoenggi Bio Center, 864-1, Iui-dong,
Yeongtong-gu, Suwon-si, Gyeonggi-do, Korea |
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Tel |
+82-31-888-6330~2 |
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Fax |
+82-31-888-6333 |
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Type |
Export/Import |
|
Industry |
Manufacture of Finished Medicaments |
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Main Business |
Drugs & Pharmaceutical Products |
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Established (mm/dd/yyyy) |
10/15/1968 |
The Subject owns
the premises of registered HQ address and the factory.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Anaesthetic drugs and related adjuncts and
analeptics(51142900) |
|
Sell |
Drugs and Pharmaceutical Products(51000000) |
|
Sell |
Antibiotics(51101500) |
|
Sell |
Antifungal drugs(51101800) |
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Sell |
Dental drugs(51212100) |
|
Buy |
Nystatin(51101815) |
|
Buy |
Minerals(11101500) |
|
Buy |
Dental drugs(51212100) |
|
Buy |
Neomycin(51101513) |
|
Buy |
Minocycline(51101556) |
|
Buy |
Base Metals(11101700) |
CEO’s
|
Name |
Kwon Ki-Beom |
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Date of Birth |
03/23/1967 |
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Title |
Vice Chairman & CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
|
Capital (KRW) |
22,230,000,000 |
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Employees |
474 |
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Formation |
Listed Company (KOSDAQ : 086450) as of 05/29/2007 A Company of DONG KOOK PHARMACEUTICAL CO., LTD. |
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Bank Details |
Industrial Bank of Korea Korea Exchange Bank |
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Corporate Registered No. |
110111-0094477 |
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Business Registered No. |
120-81-22608 |
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Permit & Licenses |
10/1995 KT Mark 11/1996 KT Mark Int’l Trade No.: 195300 |
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Shareholder Position |
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Company History |
10/15/1968 Incorporated as U.E.C. 03/1982 Changed company name to the present
name 12/1999 Awarded US$1 Million Export Top
Prize 11/2002 Awarded US$5 Million Export Top
Prize 12/2004 Awarded US$10 Million Export Top
Prize 05/29/2007 Listed at KOSDAQ 11/2008 Awarded US$ 20 Million Export Top
Prize 11/2010 Awarded US$ 30 Million Export Top
Prize |
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Management
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
Vice Chairman & CEO |
Mr. |
Kwon Ki-Beom |
Korean |
1967.03.23 |
Denver University, USA |
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President & CEO |
Mr. |
Lee Young-Wook |
Korean |
1953.08.20 |
Chungang University, Korea |
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Vice President |
Mr. |
Oh Heung-Joo |
Korean |
1958.08.24 |
Seoul National University, Korea |
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Auditor |
Mr. |
Park Sam-Yong |
Korean |
1937.03.10 |
Seoul National University, Korea |
|
Outside Director |
Mr. |
Park Jin-Kyu |
Korean |
1937.10.24 |
Youngnam University, Korea |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
36,107,386,887 |
168,281,441,510 |
6,115,544,033 |
|
|
2010 |
140,445,114,763 |
149,797,361,782 |
16,854,349,159 |
|
2009 |
123,172,274,041 |
130,313,369,362 |
12,886,048,736 |
|
2008 |
105,138,755,460 |
116,276,126,886 |
10,179,570,191 |
|
2007 |
92,270,891,821 |
103,475,867,229 |
10,279,309,205 |
|
2006 |
78,372,189,851 |
71,570,839,280 |
6,688,416,970 |
|
2005 |
68,282,806,937 |
64,786,454,333 |
6,250,721,677 |
Financial Description
|
Authorized Capital(KRW) |
40,000,000,000 |
|
Paid-Up Capital(KRW) |
22,230,000,000 |
|
Total Issues Shares |
8,892,000 |
Balance
Sheet
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|||
|
Unit : Korean Won |
01/01/2011~03/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Total
Assets |
168,281,441,510 |
156,560,928,643 |
|
|
Current Assets |
116,704,503,285 |
109,136,830,600 |
|
|
Cash
& Cash Equivalents |
10,292,091,801 |
7,990,728,915 |
|
|
Trade
Receivables & Other Receivables |
59,231,930,407 |
59,141,052,145 |
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Other
Current Financial Instruments |
23,418,084,273 |
20,785,065,251 |
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Inventories |
23,762,396,804 |
21,219,984,289 |
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Non-Current Assets |
51,576,938,225 |
47,424,098,043 |
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Long-Term
Trade Receivables & Other Receivables |
1,877,592,000 |
1,818,367,600 |
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Tangibles |
39,495,080,169 |
37,826,231,170 |
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Investment_Real
Estates |
1,103,077,163 |
1,106,857,456 |
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Intangibles |
4,258,809,059 |
4,277,948,800 |
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Deferred
Income Tax Assets |
445,264,517 |
278,335,490 |
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Other
Non-Current Financial Instruments |
4,397,115,317 |
2,116,357,527 |
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Total Liabilities |
48,381,198,976 |
40,068,712,244 |
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Current Liabilities |
42,991,287,769 |
34,658,877,411 |
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Trade
Payables & Other Payables |
27,576,570,480 |
24,157,466,256 |
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Short-Term
Borrowings |
4,286,341,352 |
3,671,613,264 |
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Current
Portion of Provisions |
2,453,257,235 |
2,442,064,886 |
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Other
Current Liabilities |
8,675,118,702 |
4,387,733,005 |
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Non-Current Liabilities |
5,389,911,207 |
5,409,834,833 |
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Long-Term
Trade Payables & Other Payables |
688,615,200 |
929,295,200 |
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Long-Term
Borrowings |
249,900,000 |
499,800,000 |
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Provision
for Severance & Retirement |
4,451,396,007 |
3,980,739,633 |
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Capital Stock |
38,056,411,698 |
38,056,411,698 |
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Profit
Surplus |
80,879,071,763 |
78,122,862,707 |
|
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Others |
964,759,073 |
312,941,994 |
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Total
Equity |
119,900,242,534 |
116,492,216,399 |
|
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Liab.
& Shareholder’s Equity |
168,281,441,510 |
156,560,928,643 |
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Balance Sheet |
|||
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Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
149,797,361,782 |
130,313,369,362 |
116,276,126,886 |
|
Current Assets |
108,338,629,637 |
90,879,710,642 |
85,351,759,805 |
|
-Quick Assets |
87,089,526,095 |
71,951,859,920 |
66,259,512,470 |
|
-Inventories |
21,249,103,542 |
18,927,850,722 |
19,092,247,335 |
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Fixed Assets |
41,458,732,145 |
39,433,658,720 |
30,924,367,081 |
|
-Investment |
5,741,233,854 |
8,805,940,835 |
7,895,071,253 |
|
-Tangibles |
33,079,158,189 |
28,323,361,321 |
21,687,136,834 |
|
-Intangibles |
585,536,109 |
459,459,466 |
74,612,394 |
|
-Others |
2,052,803,993 |
1,844,897,098 |
1,267,546,600 |
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Total Liabilities |
36,631,163,347 |
30,649,282,289 |
30,268,233,332 |
|
Current Liabilities |
29,428,850,041 |
24,543,738,678 |
24,198,567,351 |
|
Fixed Liabilities |
7,202,313,306 |
6,105,543,611 |
6,069,665,981 |
|
Capital Stock |
22,230,000,000 |
22,230,000,000 |
17,100,000,000 |
|
Capital Surplus |
17,078,511,458 |
17,078,511,458 |
21,825,923,306 |
|
Profit Surplus |
74,787,401,916 |
60,596,311,157 |
50,232,300,546 |
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Capital Adjustment |
-929,714,939 |
-240,735,542 |
-3,150,330,298 |
|
Total Equity |
113,166,198,435 |
99,664,087,073 |
86,007,893,554 |
|
Liab. & Shareholder’s Equity |
149,797,361,782 |
130,313,369,362 |
116,276,126,886 |
Income
Statement
|
|||
|
Unit : Korean Won |
01/01/2011~03/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Sales |
36,107,386,887 |
|
|
|
Cost of Sold Goods |
13,818,142,842 |
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|
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Gross Profit |
22,289,244,045 |
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|
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Selling & Admin.
Expenses |
15,171,274,178 |
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|
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Other Operating
Income |
1,435,932,039 |
|
|
|
Other Operating Expenses |
369,888,743 |
|
|
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Operating Income |
8,184,013,163 |
|
|
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Finance Income |
218,673,416 |
|
|
|
Finance Expenses |
132,222,559 |
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|
|
Income Before Taxes |
8,270,464,020 |
|
|
|
Income Taxes Expenses |
2,154,919,987 |
|
|
|
Net Income |
6,115,544,033 |
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|
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
140,445,114,763 |
123,172,274,041 |
105,138,755,460 |
|
Cost of Sold Goods |
59,282,952,629 |
50,997,106,377 |
40,490,320,427 |
|
Gross Profit |
81,162,162,134 |
72,175,167,664 |
64,648,435,033 |
|
Selling & Admin. Expenses |
58,878,608,226 |
54,441,088,827 |
48,798,784,353 |
|
Operating Income |
22,283,553,908 |
17,734,078,837 |
15,849,650,680 |
|
Non-Operating Income |
4,705,284,973 |
3,310,841,648 |
4,924,547,947 |
|
Non-Operating Expenses |
4,114,114,459 |
3,983,067,089 |
6,367,092,730 |
|
Income Before Taxes |
22,874,724,422 |
17,061,853,396 |
14,407,105,897 |
|
Income Taxes Expenses |
6,020,375,263 |
4,175,804,660 |
4,227,535,706 |
|
Net Income |
16,854,349,159 |
12,886,048,736 |
10,179,570,191 |
Cash
Flows
|
|||
|
Unit : Korean Won |
01/01/2011~03/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Operating Activities Cash Flows |
8,586,413,952 |
|
|
|
Net Income |
6,115,544,033 |
|
|
|
Adjustment |
2,470,869,919 |
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|
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Cash Flows from Investing |
-7,050,640,632 |
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|
|
Cash Flows from Financing |
781,683,986 |
|
|
|
Increase/Decrease in Cash |
2,317,457,306 |
|
|
|
Cash at the Beginning of Year |
7,990,728,915 |
|
|
|
Cash at the End of Year |
10,292,091,801 |
|
|
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows from Operating |
12,750,106,199 |
10,492,310,050 |
5,733,904,991 |
|
-Net Income |
16,854,349,159 |
12,886,048,736 |
10,179,570,191 |
|
-Exp. without Cash Outflow |
10,588,358,057 |
10,307,816,321 |
10,611,725,516 |
|
-Revenue
without Cash Inflows |
-2,031,841,407 |
-991,811,401 |
-1,362,788,400 |
|
-Changes in
Asset/ & Liability |
-12,660,759,610 |
-11,709,743,606 |
-13,694,602,316 |
|
Cash Flows
from Investing |
-2,942,172,546 |
-11,379,642,011 |
-4,986,303,401 |
|
-Cash Inflow
from Investing |
64,011,317,941 |
51,248,886,042 |
25,253,090,801 |
|
-Cash
Outflows for Investing |
-66,953,490,487 |
-62,628,528,053 |
-30,239,394,202 |
|
Cash Flows
from Financing |
-5,892,650,750 |
1,251,168,087 |
-3,695,692,532 |
|
-Cash
Inflows from Financing |
1,996,250,240 |
8,693,968,342 |
1,536,952,418 |
|
-Cash
Outflows from Financing |
-7,888,900,990 |
-7,442,800,255 |
-5,232,644,950 |
|
Increase/Decrease
in Cash |
3,915,282,903 |
363,836,126 |
-2,948,090,942 |
|
Cash at the
Beginning of Year |
4,075,446,012 |
3,711,609,886 |
6,659,700,828 |
|
Cash at the
End of Year |
7,990,728,915 |
4,075,446,012 |
3,711,609,886 |
Products, Technologies, Services Description
|
Main Products & Services |
Drugs & Pharmaceutical Products |
Trade Partners & Competitors
|
Suppliers |
KYOUNGBO CHEMICAL CO., LTD.(164811-0001961) HWAIL PHARM. CO., LTD.(134411-0000719) |
|
Customers |
JEIL PHARMACEUTICAL CO., LTD.(110111-0026652) BERGAMO(BRAZIL) |
|
Competitors |
DONGA PHARMACEUTICAL
CO.,LTD.(110111-0017990) HANMI PHAM CO., LTD.(134811-0003187) YUHAN CORPORATION(110111-0014409) CHOONGWAE PHARMA CORP.(110111-0019342) JEIL PHARMACEUTICAL CO.,LTD.(110111-0026652) |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
DONG KOOK FINE CHEMICAL CO.,LTD.(110111-0780208) DK LIFE SCIENCE CO., LTD.(110111-1473555) |
|
Cooperative Enterprise |
-Insured Company SAMSUNG FIRE & MARINE INSURANCE CO., LTD.(110111-0005078) |
Sales by Region
(Activity & Markets)
|
Sales/ Unit :Mil KRW |
03/2011 |
2010 |
2009 |
|
Export |
6,442 |
34801 |
35,520 |
|
Domestic |
31,931 |
115279 |
95,639 |
|
Total |
38,373 |
150,080 |
131,159 |
The Subject exports
to Germany, India, Iran, Bulgaria, Brazil and Mexico.
Court Action
No.
News Clipping
----
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.05 |
|
UK Pound |
1 |
Rs.71.92 |
|
Euro |
1 |
Rs.64.37 |
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 |
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 |
|
---- |
NB |
New Business |
---- |
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.