MIRA INFORM REPORT
|
Report Date : |
14.09.2011 |
IDENTIFICATION DETAILS
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Name : |
PHARMSWELL BIO CO., LTD. |
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Formerly Known As : |
CO BIOTEC CO., LTD. |
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Registered Office : |
82-3, Yangjae 1-dong, Seocho-gu, Seoul, Korea, 5th Fl., Gangsan Bldg., Zip Code 137-890 |
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Country : |
South Korea |
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Financials (as on) : |
30.06.2011 |
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Date of Incorporation : |
01.04.1987 |
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Com. Reg. No.: |
139-81-09157 |
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Legal Form : |
Listed Company |
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Line of Business : |
Manufacture of Medicinal Chemicals and Antibiotics |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment
Behaviour : |
Unknown |
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Litigation : |
--- |
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 |
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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 |
PHARMSWELL BIO
CO., LTD. (Korean Company Name :
“(주)팜스웰바이오”) |
|
Registered Address |
82-3,
Yangjae 1-dong, Seocho-gu, Seoul, Korea |
|
Building |
5th Fl., Gangsan Bldg. |
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Zip Code |
137-890 |
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Tel |
+82-2-577-1555 |
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Fax |
+82-2-577-4525 |
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E-mail |
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Website |
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Trading Address |
5th Fl., Gangsan Bldg., 82-3, Yangjae 1-dong,
Seocho-gu, Seoul, Korea |
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Tel |
+82-2-577-1555 |
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Fax |
+82-2-577-4525 |
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Type |
Export/Import |
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Industry |
Manufacture of Medicinal Chemicals and Antibiotics |
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Main Business |
Drugs & Pharmaceutical Products |
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Sub
Business |
Chemicals |
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Established (mm/dd/yyyy) |
04/01/1987 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Fermentation equipment(41104300) |
|
Sell |
Reactors or fermenters or
digesters(23151804) |
|
Sell |
Inoculating devices(41122106) |
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Sell |
Laboratory incubating equipment(41104400) |
|
Sell |
Drugs and Pharmaceutical Products(51000000) |
|
Buy |
Gear units(26111524) |
|
Buy |
Metallic bins(24112004) |
|
Buy |
Glass products(30171700) |
|
Buy |
Filters(40161500) |
|
Buy |
Pipe crosses(40142316) |
|
Buy |
Fluorescent lamps(39101605) |
|
Buy |
Temperature and heat measuring
instruments(41112200) |
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Buy |
Power supply units(39121004) |
|
Buy |
Liquid crystal display LCD panels or
monitors(43211902) |
|
Buy |
Valves(40141600) |
|
Buy |
Electrodes(39121436) |
|
Buy |
Indicating and recording
instruments(41111900) |
CEO’s
|
Name |
Kwon Young-Jin |
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Address |
23-1, Sunae-dong, Bundang-gu, Seongnam-si,
Gyeonggi-do 463-825 Korea |
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Date of Birth |
04/08/1966 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
|
Capital (KRW) |
9,743,443,500 |
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Employees |
26 |
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Formation |
Listed Company (KOSDAQ : 043090) as of 10/11/2001 Venture Business |
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Bank Details |
Industrial Bank of Korea-Yeonsu Branch |
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Corporate Registered No. |
110111-0527767 |
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Business Registered No. |
139-81-09157 |
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Permit & Licenses |
10/1993 KT Mark 12/1998 ISO 9001 Int’l Trade No.: 14009710 |
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Shareholder Position |
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Company History |
08/1983 Established as Shin Young
Engineering Co.(Sole Proprietorship) 04/01/1987 Incorporated as KOREA BALHYOGI
CO., LTD. 04/01/2000 Changed company name to CO
BIOTEC CO., LTD. 11/09/2004 Designated as a Venture Business 06/2006 Designated as a Promising Export
SME 05/2007 Designated as a Venture Business
again 05/07/2008 Changed company name to the
present name 06/12/2008
Acquired PHARMSWELL CO., LTD.(110111-1695555) 12/2008 Moved to the present HQ address
from 713-12,
Gojan-dong, Namdong-gu, Incheon, Korea 05/02/2010 Designated as a Venture Business
again |
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Management
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Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
President & CEO |
Mr. |
Kwon Young-Jin |
Korean |
1966.04.08 |
Korea University, Korea |
|
Sr. Executive
Director |
Mr. |
Sohn Suck-Doo |
Korean |
1954.10.24 |
- |
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Director |
Mr. |
Kim Hak-Soo |
Korean |
1966.01.26 |
- |
|
Outside Director |
Mr. |
Bae Han-Young |
Korean |
1970.09.10 |
Seoul National University, Korea |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
9,479,512,830 |
40,673,743,405 |
-2,480,952,443 |
|
|
2010 |
21,577,826,117 |
43,180,846,077 |
-2,972,934,310 |
|
2009 |
24,037,911,230 |
49,623,277,619 |
122,074,335 |
|
2008 |
20,417,420,944 |
69,842,558,578 |
-12,041,235,712 |
Financial Description
|
Authorized Capital(KRW) |
50,000,000,000 |
|
Paid-Up Capital(KRW) |
9,743,443,500 |
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Total Issues Shares |
19,486,887 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
01/01/2011~06/30/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Total Assets |
40,673,743,405 |
42,927,796,846 |
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Current Assets |
17,692,785,651 |
18,474,508,450 |
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|
Inventories |
2,800,134,850 |
2,282,775,253 |
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Trade Receivables & Other Receivables |
13,780,648,913 |
13,603,376,372 |
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Other Current Financial Instruments |
467,270,000 |
2,172,082,000 |
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Other Current Non-Financial Instruments |
105,895,864 |
157,709,699 |
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Cash & Cash Equivalents |
538,836,024 |
258,565,126 |
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Non-Current Assets |
22,980,957,754 |
24,453,288,396 |
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Long-Term Trade Receivables & Other Receivables |
28,476,000 |
28,476,000 |
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Tangibles |
14,590,093,090 |
14,984,674,987 |
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Investment_Real Estates |
212,470,139 |
215,688,918 |
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Intangibles |
1,316,589,897 |
1,248,886,387 |
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Deferred Income Tax Assets |
660,000,000 |
637,355,416 |
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Marketable Financial Instruments |
3,980,028,628 |
5,278,706,688 |
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Investment_Subsidiaries |
900,000,000 |
900,000,000 |
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Other Non-Current Finance Assets |
1,293,300,000 |
1,159,500,000 |
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Total
Liabilities |
21,777,923,392 |
21,550,907,095 |
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Current Liabilities |
21,711,504,158 |
21,484,487,861 |
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Current Portion of Provisions |
1,903,176 |
6,236,652 |
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Trade Payables & Other Payables |
6,235,692,814 |
4,176,623,723 |
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Short-Term Borrowings |
15,394,886,018 |
17,169,794,616 |
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Other Current Financial Debts |
78,669,650 |
131,827,370 |
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Other Current Non-Financial Debts |
352,500 |
5,500 |
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Non-Current Liabilities |
66,419,234 |
66,419,234 |
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Non-Current Portion of
Provisions |
66,419,234 |
66,419,234 |
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Capital Stock |
9,743,443,500 |
9,743,443,500 |
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Capital Surplus |
40,929,875,355 |
40,929,875,355 |
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Profit Surplus |
-12,762,468,566 |
-10,281,516,123 |
|
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Others |
-19,015,030,276 |
-19,014,912,981 |
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Total
Equity |
18,895,820,013 |
21,376,889,751 |
|
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Liab.
& Shareholder’s Equity |
40,673,743,405 |
42,927,796,846 |
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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 |
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Total Assets |
43,180,846,077 |
49,623,277,619 |
69,842,558,578 |
|
Current Assets |
16,562,294,423 |
21,324,368,759 |
30,554,980,492 |
|
-Quick Assets |
14,279,519,170 |
18,209,193,685 |
28,329,453,984 |
|
-Inventories |
2,282,775,253 |
3,115,175,074 |
2,225,526,508 |
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Fixed Assets |
26,618,551,654 |
28,298,908,860 |
39,287,578,086 |
|
-Investment |
7,338,206,688 |
9,546,635,222 |
9,850,522,000 |
|
-Tangibles |
15,881,523,022 |
15,230,613,173 |
25,108,524,372 |
|
-Intangibles |
718,892,567 |
524,152,346 |
316,262,463 |
|
-Others |
2,679,929,377 |
2,997,508,119 |
4,012,269,251 |
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Total Liabilities |
20,775,243,944 |
24,351,084,718 |
45,253,642,194 |
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Current Liabilities |
20,775,243,944 |
24,351,084,718 |
42,958,423,616 |
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Fixed Liabilities |
|
|
2,295,218,578 |
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Capital Stock |
9,743,443,500 |
9,704,654,000 |
9,489,496,000 |
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Capital Surplus |
40,929,875,355 |
40,868,665,524 |
40,532,877,660 |
|
Profit Surplus |
-9,252,803,741 |
-6,279,869,431 |
-6,401,943,766 |
|
Capital Adjustment |
-19,014,912,981 |
-19,021,257,192 |
-19,031,513,510 |
|
Total Equity |
22,405,602,133 |
25,272,192,901 |
24,588,916,384 |
|
Liab. &
Shareholder’s Equity |
43,180,846,077 |
49,623,277,619 |
69,842,558,578 |
Income
Statement
|
|||
|
Unit : Korean Won |
01/01/2011~06/30/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Sales |
9,479,512,830 |
|
|
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Cost of Sold Goods |
8,101,659,290 |
|
|
|
Gross Profit |
1,377,853,540 |
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|
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Selling & Admin. Expenses |
1,336,185,085 |
|
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Operating Income |
41,668,455 |
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|
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Other Operating
Income |
11,738,826 |
|
|
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Other Operating Expenses |
2,119,036,099 |
|
|
|
Finance Income |
108,726,605 |
|
|
|
Finance Expenses |
546,694,814 |
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|
|
Income Before Taxes |
-2,503,597,027 |
|
|
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Income Taxes Expenses |
-22,644,584 |
|
|
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Net Income |
-2,480,952,443 |
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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 |
21,577,826,117 |
24,037,911,230 |
20,417,420,944 |
|
Cost of Sold Goods |
18,791,473,120 |
20,429,059,377 |
18,194,360,681 |
|
Gross Profit |
2,786,352,997 |
3,608,851,853 |
2,223,060,263 |
|
Selling
& Admin. Expenses |
2,386,380,119 |
2,763,657,372 |
5,449,792,419 |
|
Operating
Income |
399,972,878 |
845,194,481 |
-3,226,732,156 |
|
Non-Operating Income |
303,814,782 |
1,761,456,315 |
491,618,442 |
|
Non-Operating Expenses |
3,259,743,728 |
3,538,910,119 |
9,319,841,524 |
|
Income Before Taxes from Continuous Business |
-2,555,956,068 |
-932,259,323 |
-12,054,955,238 |
|
Taxes from Continuous Business |
416,978,242 |
-1,054,333,658 |
-116,203,000 |
|
Income from Continuous Business |
-2,972,934,310 |
122,074,335 |
-11,938,752,238 |
|
Income from Stopped Business |
|
|
-102,483,474 |
|
Net Income |
-2,972,934,310 |
122,074,335 |
-12,041,235,712 |
Cash
Flows
|
|||
|
Unit : Korean Won |
01/01/2011~06/30/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Operating Activities Cash Flows |
1,182,110,037 |
|
|
|
Net Income |
-2,480,952,443 |
|
|
|
Adjustment |
4,015,539,390 |
|
|
|
Dividends Received |
1,043,000 |
|
|
|
Interests Paid |
-555,335,534 |
|
|
|
Interests Received |
201,815,624 |
|
|
|
Cash Flows from
Investing |
895,480,890 |
|
|
|
Cash Flows from Financing |
-1,794,908,598 |
|
|
|
Increase/Decrease in Cash |
280,270,898 |
|
|
|
Cash at the Beginning of Year |
258,565,126 |
|
|
|
Cash at the End of Year |
538,836,024 |
|
|
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows from Operating |
3,619,769,762 |
-2,978,531,098 |
-2,587,486,988 |
|
-Net Income |
-2,972,934,310 |
122,074,335 |
-12,041,235,712 |
|
-Exp.
without Cash Outflow |
2,701,291,673 |
2,714,435,372 |
10,149,116,738 |
|
-Sale
without Cash Inflows |
-576,191,498 |
-1,429,776,055 |
-202,611,764 |
|
-Changes in
Asset/ & Liability |
4,467,603,897 |
-4,385,264,750 |
-492,756,250 |
|
Cash Flows
from Investing |
-1,296,339,456 |
9,142,156,804 |
-40,840,865,469 |
|
-Cash Inflow
from Investing |
5,848,351,453 |
19,353,530,798 |
15,947,835,316 |
|
-Cash
Outflows for Investing |
-7,144,690,909 |
-10,211,373,994 |
-56,788,700,785 |
|
Cash Flows
from Financing |
-4,119,084,899 |
-4,931,806,348 |
37,615,585,950 |
|
-Cash
Inflows from Financing |
9,051,095,542 |
9,957,854,362 |
52,736,167,356 |
|
-Cash
Outflows from Financing |
-13,170,180,441 |
-14,889,660,710 |
-15,120,581,406 |
|
Increase/Decrease
in Cash |
-1,795,654,593 |
-280,388,895 |
-4,864,775,315 |
|
Cash at the
Beginning of Year |
2,054,219,719 |
2,334,608,614 |
7,199,383,929 |
|
Cash at the
End of Year |
258,565,126 |
2,054,219,719 |
2,334,608,614 |
Products, Technologies, Services Description
|
Main Products & Services |
Drugs & Pharmaceutical Products |
Trade Partners & Competitors
|
Customers |
KWANGDONG PHARMACEUTICAL CO., LTD.(110111-0152134) KOREA PHARMACY CO. LTD.(180111-0059112) DAE HWA PHARM CO., LTD.(211111-0001529) KOREA KOLMAR CO., LTD.(164711-0001591) HUONS CO., LTD.(110111-0400202) ILDONG PHARMACEUTICAL CO., LTD.(110111-0012776) |
|
Competitors |
YUHAN CORPORATION 49-6, DAEBANG-DONG, DONGJAK-GU, SEOUL,
KOREA TEL:+82-2-828-0181 FAX:+82-2-828-0300 KUNWHA PHARMACEUTICAL CO., LTD. 94, GARAKBON-DONG, SONGPA-GU, SEOUL, KOREA TEL:+82-2-2047-7700 FAX:+82-2-430-1135 YUHAN CHEMICAL INC. 5BA-402, SIHWA INDUSTRIAL COMPLEX, 678-1,
SEONGGOK-DONG, DANWON-GU, ANSAN-SI, GYEONGGI-DO, KOREA TEL:+82-31-488-5800 FAX:+82-31-499-4115 |
Related Parties
(Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
PHARMSGEN CO., LTD.(110111-4076760) |
|
Cooperative Enterprise |
-Exclusive Sales and Distribution Agreement ORIENSUN LIMITED(TAIWAN) |
Sales by Region
(Activity &
Markets)
|
Sales/ Unit :Mil KRW |
06/2011 |
2010 |
2009 |
|
Export |
27 |
25 |
200 |
|
Domestic |
9453 |
21,410 |
23,838 |
|
Total |
9,480 |
21,435 |
24,038 |
The Subject deals
with the companies in China and Germany.
Court Action
No.
News Clipping
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.10 |
|
UK Pound |
1 |
Rs.74.64 |
|
Euro |
1 |
Rs.64.42 |
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.