MIRA INFORM REPORT
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Report Date : |
28.09.2011 |
IDENTIFICATION DETAILS
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Name : |
KYOUNGBO PHARMACEUTICAL CO., LTD. |
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Formerly Known As : |
Kyongbo Chemical Co., Ltd.. |
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Registered Office : |
345-6, Sirok-dong, Asan-si,
Chungcheongnam-do, Korea, Zip Code 336-020 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
31.03.1987 |
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Com. Reg. No.: |
312-81-04567 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Manufacture of Medicinal Chemicals and Antibiotics |
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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 |
KYOUNGBO PHARMACEUTICAL CO., LTD. (Korean Company Name : “(주)경보제약”) |
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Registered Address |
345-6, Sirok-dong, Asan-si,
Chungcheongnam-do, Korea |
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Zip Code |
336-020 |
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Tel |
+82-41-545-0456 |
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Fax |
+82-41-546-8427 |
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E-mail |
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Website |
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Trading Address |
Rm. 405, Chongkundang Bldg., 368, Chungjeongno
3-ga, Seodaemun-gu, Seoul, Korea |
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Tel |
+82-2-365-2302 |
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Fax |
+82-2-364-6406 |
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Type |
Export |
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Industry |
Manufacture of Medicinal Chemicals and Antibiotics |
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Main Business |
Pharmaceutical Raw Materials |
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Established (mm/dd/yyyy) |
03/31/1987 |
Detailed Products
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Formulas and products for nutritional
support(42231800) |
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Sell |
Raw materials(14101500) |
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Sell |
Drugs and Pharmaceutical Products(51000000) |
CEO’s
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Name |
Kim Young-Eun |
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Address |
Suite
308-1403, 877, Janghang-dong, Ilsandong-gu, Goyang-si,
Gyeonggi-do, Korea |
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Date of Birth |
03/31/1947 |
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Title |
Co-President & CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
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Capital (KRW) |
10,758,085,000 |
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Employees |
230 |
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Formation |
Co., Ltd by Shares A Company of Chong Kun Dang Group |
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Bank Details |
Woori Bank |
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Corporate Registered No. |
164811-0001961 |
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Business Registered No. |
312-81-04567 |
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Permit & Licenses |
12/12/1997 ISO 9001 12/31/1998 ISO 14001 01/29/2003 Obtained USA FDA Audit License
(Cefuroxime Acid) 04/30/2004 Obtained Chinese IDL license
(Ceftizoxime Sodium) Int’l Trade No.: 876746 |
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Shareholder Position |
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Company History |
03/31/1987 Incorporated as Kyongbo Chemical Co., Ltd.. 11/30/1988 Awarded US$ 1
Million Export Top Prize 11/30/1995 Awarded US$ 10
Million Export Top Prize 06/11/2003 Increased the authorized shares to 10,000,000 shares from
2,400,000 shares 12/04/2006 Decreased the authorized shares to 5,700,000 shares from
10,000,000 shares 06/28/2007 Changed company name to the present name 06/27/2008 Designated as a venture Business 10/22/2008 Increased capital to 10,758,085,000 KRW from 7,444,635,000
KRW |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
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Co-President & CEO |
Mr. |
Kim Young-Eun |
Male |
Korean |
03/28/2003 |
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Co-President & CEO |
Mr. |
Lee Kyung-Ju |
Male |
Korean |
01/02/2010 |
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Director |
Mr. |
Lee Jang-Han |
Male |
Korean |
03/24/1999 |
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Director |
Mr. |
Sohn Sung-Ki |
Male |
Korean |
03/26/2002 |
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Auditor |
Mr. |
Kim Tae-Young |
Male |
Korean |
03/25/2011 |
Financials
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Year / Unit : KRW |
Sales |
Assets |
Net Income |
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140,209,100,939 |
109,191,930,278 |
9,926,841,196 |
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2009 |
121,668,678,511 |
95,018,326,907 |
7,874,728,698 |
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2008 |
87,798,440,198 |
87,159,689,650 |
3,932,017,968 |
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2007 |
62,619,508,842 |
66,800,493,051 |
-6,001,734,352 |
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2006 |
60,768,017,200 |
72,233,066,171 |
189,051,821 |
Financial Description
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Authorized Capital(KRW) |
28,500,000,000 |
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Paid-Up Capital(KRW) |
10,758,085,000 |
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Total Issues Shares |
2,151,617 |
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 |
109,191,930,278 |
95,018,326,907 |
87,159,689,650 |
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Current Assets |
57,016,804,450 |
46,216,301,502 |
47,672,330,653 |
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-Quick Assets |
28,114,812,578 |
21,253,219,233 |
25,684,782,733 |
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-Inventories |
28,901,991,872 |
24,963,082,269 |
21,987,547,920 |
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Fixed Assets |
52,175,125,828 |
48,802,025,405 |
39,487,358,997 |
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-Investment |
1,690,611,400 |
908,407,850 |
955,040,550 |
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-Tangibles |
39,297,918,578 |
37,616,178,031 |
34,256,259,490 |
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-Intangibles |
110,752,961 |
180,728,490 |
227,609,910 |
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-Others |
11,075,842,889 |
10,096,711,034 |
4,048,449,047 |
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Total Liabilities |
76,138,713,923 |
72,447,470,517 |
72,805,667,852 |
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Current Liabilities |
64,765,263,246 |
60,636,644,247 |
64,770,196,095 |
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Fixed Liabilities |
11,373,450,677 |
11,810,826,270 |
8,035,471,757 |
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Capital Stock |
10,758,085,000 |
10,758,085,000 |
10,758,085,000 |
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Capital Surplus |
5,786,634,753 |
5,786,634,753 |
5,786,634,753 |
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Profit Surplus |
15,731,853,510 |
5,805,012,314 |
-2,069,716,384 |
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Capital Adjustment |
776,643,092 |
221,124,323 |
-120,981,571 |
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Total Equity |
33,053,216,355 |
22,570,856,390 |
14,354,021,798 |
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Liab. & Shareholder’s Equity |
109,191,930,278 |
95,018,326,907 |
87,159,689,650 |
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Current Liabilities |
64,765,263,246 |
60,636,644,247 |
64,770,196,095 |
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Trade Payables |
17,768,356,092 |
21,824,270,896 |
18,567,541,922 |
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Short-Term Borrowings |
33,053,659,900 |
32,100,000,000 |
39,795,536,290 |
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Account Payables |
5,834,326,184 |
3,249,571,882 |
3,826,718,035 |
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Withholdings |
256,284,810 |
211,494,700 |
152,861,160 |
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Accrued Expenses |
101,186,970 |
101,669,636 |
57,602,713 |
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Advance Receipts |
106,879,173 |
80,453,294 |
129,451,827 |
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Current Portion of Long-Term Debts |
3,740,280,000 |
870,140,000 |
- |
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Accrued Income Tax |
3,904,290,117 |
2,180,357,890 |
2,240,484,148 |
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Deferred Income Tax Credit |
- |
18,685,949 |
- |
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Fixed Liabilities |
11,373,450,677 |
11,810,826,270 |
8,035,471,757 |
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Long-Term Borrowings |
6,350,686,379 |
10,090,966,379 |
6,109,606,379 |
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Provision for Severance & Retirement |
3,981,305,699 |
3,164,413,298 |
2,542,721,533 |
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Provision for Sales Guarantee |
322,817,213 |
23,000,000 |
130,000,000 |
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Provision for Court Actions |
2,195,266,487 |
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- |
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 |
140,209,100,939 |
121,668,678,511 |
87,798,440,198 |
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Cost of Sold Goods |
100,729,424,911 |
90,342,902,758 |
67,341,092,090 |
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Gross Profit |
39,479,676,028 |
31,325,775,753 |
20,457,348,108 |
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Selling & Admin. Expenses |
21,917,759,045 |
18,462,149,454 |
11,460,241,678 |
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Operating Income |
17,561,916,983 |
12,863,626,299 |
8,997,106,430 |
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Non-Operating Income |
2,130,854,016 |
1,764,642,870 |
4,174,694,304 |
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Non-Operating Expenses |
5,343,585,197 |
6,566,912,131 |
12,347,334,987 |
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Income Before Taxes |
14,349,185,802 |
8,061,357,038 |
824,465,747 |
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Income Taxes Expenses |
4,422,344,606 |
186,628,340 |
-3,107,552,221 |
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Net Income |
9,926,841,196 |
7,874,728,698 |
3,932,017,968 |
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 |
5,827,637,408 |
10,225,850,210 |
5,256,569,752 |
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-Net Income |
9,926,841,196 |
7,874,728,698 |
3,932,017,968 |
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-Exp. without Cash Outflow |
8,249,563,285 |
4,912,357,826 |
10,301,608,961 |
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-Sale without Cash Inflows |
-14,036,654 |
-9,850,000 |
-1,186,993,153 |
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-Changes in Asset/ & Liability |
-12,334,730,419 |
-2,551,386,314 |
-7,790,064,024 |
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Cash Flows from Investing |
-6,976,696,686 |
-8,268,485,617 |
-10,511,102,136 |
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-Cash Inflow from Investing |
1,024,710,540 |
3,874,294,425 |
5,714,245,713 |
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-Cash Outflows for Investing |
-8,001,407,226 |
-12,142,780,042 |
-16,225,347,849 |
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Cash Flows from Financing |
383,337,113 |
-2,951,036,290 |
8,711,723,029 |
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-Cash Inflows from Financing |
24,987,022,115 |
23,049,632,155 |
22,784,751,960 |
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-Cash Outflows from Financing |
-24,603,685,002 |
-26,000,668,445 |
-14,073,028,931 |
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Increase/Decrease in Cash |
765,722,165 |
993,671,697 |
3,457,190,645 |
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Cash at the Beginning of Year |
2,988,015,120 |
3,981,686,817 |
524,496,172 |
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Cash at the End of Year |
2,222,292,955 |
2,988,015,120 |
3,981,686,817 |
Products, Technologies, Services Description
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Main Products & Services |
Pharmaceutical Raw Materials |
Trade Partners & Competitors
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Competitors |
DAEWOONG PHARMA CO., LTD.(134811-0075342) 223-23, SANGDAEWON 1-DONG, JUNGWON-GU, SEONGNAM-SI, GYEONGGI-DO, KOREA TEL:+82-31-741-7700~4
FAX:+82-31-749-5535 ILDONG PHARMACEUTICAL CO., LTD(110111-0012776) 60, YANGJAE 1-DONG, SEOCHO-GU, SEOUL, KOREA TEL:+82-2-526-3114
FAX:+82-2-526-3030 DONGWHA PHARM IND CO., LTD.(110111-0043870) 5, SUNHWA-DONG, JUNG-GU, SEOUL, KOREA TEL:+82-2-2021-9300 FAX:+82-2-776-7873 |
Related Parties
(Subsidiaries,
Joint-Venture & Affiliates)
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Affiliates |
CHONG KUN DANG CO., LTD.(110111-0028955) CHONG KUN DANG PHARMACEUTICAL CORP.(110111-0028955) CHONG KUN DANG INDUSTRIES CO., LTD.(110111-0253437) ANSUNG PRECISION MACHINERY CO., LTD.( 134811-0013673) BELLCOM CO., LTD.(110111-2261339) CHONGKUNDANG HEALTH CARE CO.,
LTD.(135011-0049540) KOREA HINET CO., LTD. (110111-0892136) CKD VENTURE CAPITAL CORPORATION(160111-0065098) CKD BIO CORP.(110111-2373308) BELL SM CO., LTD.(110111-3483841) BELL I&S CO., LTD.(110111-3895913) CKD LIVING CO., LTD.(110111-3667049) BARDIA FARMA S.P.A EQUIS PHARMACEUTICALS, INC |
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Cooperative Enterprise |
-Insured Company HYUNDAI MARINE & FIRE INSURANCE CO., LTD.(110111-0035893) |
Sales by Region
(Activity & Markets)
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Sales/ Unit : KRW |
2010 |
2009 |
2008 |
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Export |
55,825,544,503 |
51,843,471,213 |
31,504,497,299 |
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Domestic |
84,383,556,436 |
69,825,207,298 |
56,293,942,899 |
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Total |
140,209,100,939 |
121,668,678,511 |
87,798,440,198 |
The Subject exports
to China, Japan, Russia and Europe.
Court Action
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Case No. |
Court |
Plaintiff(s)/
Creditor(s)/ Applicant(s) |
Defendant(s)/
Debtor(s)/ Respondent(s) |
Cause |
Amount (Million KRW) |
Status |
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The Subject Company |
- |
2,776 |
Proceeding |
News Clipping
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.49.18 |
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UK Pound |
1 |
Rs.76.65 |
|
Euro |
1 |
Rs.66.63 |
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 |
|
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 |
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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.