|
Report Date : |
13.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
SUHEUNG CAPSULE CO., LTD. |
|
|
|
|
Formerly Known As : |
SUHEUNG CHEMICAL INDUSTRIAL CO., LTD. |
|
|
|
|
Registered Office : |
317, Songnae 1-dong, Sosa-gu, Bucheon-si, Gyeonggi-do, Korea, Zip Code
422-814 |
|
|
|
|
Country : |
South korea |
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
30.01.1973 |
|
|
|
|
Com. Reg. No.: |
130-81-00576 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacturer of Medicinal Medicaments |
|
|
|
|
No. of Employees : |
650 |
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 |
|
Payment Behaviour : |
No Complaints |
|
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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Company Name |
SUHEUNG CAPSULE CO., LTD. (Korean Company Name : “(주)서흥캅셀”) |
|
Registered Address |
317, Songnae 1-dong, Sosa-gu, Bucheon-si,
Gyeonggi-do, Korea |
|
Zip Code |
422-814 |
|
Tel |
+82-32-610-7100 |
|
Fax |
+82-32-666-0189 |
|
E-mail |
|
|
Website |
|
|
Trading Address |
6th Fl., Jung-An Bldg., 435-5, Jangan
3-dong, Dongdaemun-gu, Seoul, Korea |
|
Tel |
+82-2-2210-8175 |
|
Fax |
+82-2-2217-2356 |
|
Other Address- 2nd Factory |
1731-4, Songjeong-dong, Gangseo-gu, Busan,
Korea |
|
Tel |
+82-51-831-8803 |
|
Fax |
+82-51-831-8806 |
|
Type |
Export |
|
Industry |
Manufacture of Medicinal Medicaments |
|
Main Business |
Empty Hard Capsules, Soft Capsule, Health Food, Encapsulation Machine |
|
Established (mm/dd/yyyy) |
01/30/1973 |
The Subject owns
the premises of the registered address/Factory(18,142m2) and 2nd
Factory(13,386m2).
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Capsule tubes or caps(24141709) |
|
Sell |
Health & Nutrition Food |
|
Sell |
Hard Capsule |
|
Sell |
Soft Capsule |
|
Sell |
Automatic Capsule Filling Machine |
|
Sell |
Paint Ball |
|
Name |
Yang Joo-Hwan |
|
Date of Birth |
03/13/1952 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
6,084,556,500 |
||||||||||||||||||
|
Employees |
650 |
||||||||||||||||||
|
Formation |
Listed Company (Korea Stock Exchange: 008490) as of 03/27/1990 A Company of SUHEUNG CAPSULE CO., LTD. |
||||||||||||||||||
|
Bank Details |
Citi Bank, Korea-HQ Branch Kookmin Bank Korea Development Bank Hana Bank Woori Bank |
||||||||||||||||||
|
Corporate Registered No. |
124311-0004252 |
||||||||||||||||||
|
Business Registered No. |
130-81-00576 |
||||||||||||||||||
|
Permit & Licenses |
01/03/1998 ISO 9001 Patent(26161) : EMBO CAPS Int’l Trade No.: 814492 |
||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||
|
Company History |
01/30/1973 Incorporated as SUHEUNG CHEMICAL
INDUSTRIAL CO., LTD. 01/30/1980 Changed company name to the
present name 06/01/1982 Acquired Jinhung Pharm. Co.,
Ltd. 03/27/1990 Listed at KSE Market 11/30/1992 Awarded US$5 Million Export Top
Prize 11/30/1994 Awarded US$10 Million Export Top
Prize 11/30/2003
Awarded US$20 Million Export Top Prize 11/30/2008
Awarded US$30 Million Export Top Prize |
||||||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
President & CEO |
Mr. |
Yang Joo-Hwan |
Korean |
1952.03.13 |
Yonsei University, Korea |
|
Vice President |
Mr. |
Yoon Sung-Gerl |
Korean |
1952.02.10 |
Kyungbuk National University |
|
Executive Director |
Mr. |
Kim Bae-Sung |
Korean |
1951.01.20 |
Dankuk University, Korea |
|
Outside Director |
Mr. |
Lee Byung-Kil |
Korean |
1937.06.15 |
Myungji University, Korea |
|
Auditor |
Mr. |
You Young-Keun |
Korean |
1954.02.11 |
Hankuk University of Foreign Studies, Korea |
|
Auditor |
Mr. |
Kim Kwang-Yon |
Korean |
1939.04.08 |
Myungji University, Korea |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
36,434,197,712 |
378,943,966,025 |
619,076,206 |
|
|
(*)2011 |
142,896,131,721 |
359,613,541,572 |
15,837,267,309 |
|
(*)2010 |
124,860,736,612 |
257,332,849,483 |
13,934,050,775 |
|
2009 |
107,816,084,492 |
174,448,247,930 |
12,341,777,483 |
|
2008 |
101,606,218,474 |
171,911,838,049 |
10,640,188,356 |
|
2007 |
82,180,764,151 |
165,845,450,904 |
11,452,762,741 |
|
2006 |
76,710,971,354 |
138,611,568,949 |
2,953,156,089 |
|
2005 |
79,038,672,652 |
134,356,104,317 |
10,190,368,933 |
|
2004 |
67,146,608,615 |
97,988,295,464 |
4,225,936,857 |
|
2003 |
61,617,857,772 |
88,006,173,647 |
5,053,581,380 |
|
Authorized Capital(KRW) |
20,000,000,000 |
|
Paid-Up Capital(KRW) |
6,084,556,500 |
|
Total Issues Shares |
12,169,113 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
01/01/2011~03/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Total Assets |
378,943,966,025 |
359,613,541,572 |
257,332,849,483 |
|
Current Assets |
77,617,052,128 |
80,379,255,337 |
64,608,267,746 |
|
Cash & Cash
Equivalents |
1,660,973,812 |
1,483,515,273 |
4,058,465,256 |
|
Trade Receivables |
37,951,277,449 |
32,209,614,170 |
33,244,085,385 |
|
Inventories |
34,343,757,139 |
36,503,169,706 |
26,593,968,149 |
|
Other Receivables |
1,609,218,675 |
9,862,109,022 |
620,722,298 |
|
Other Current Assets |
2,051,825,053 |
320,847,166 |
91,026,658 |
|
Non-Current Assets |
301,326,913,897 |
279,234,286,235 |
192,724,581,737 |
|
Marketable Financial
Instruments |
179,535,000 |
179,535,000 |
581,611,000 |
|
Held-to-Maturity
Financial Assets |
400,000,000 |
400,000,000 |
400,000,000 |
|
Non-Current Financial
Instruments |
715,327,318 |
1,190,416,468 |
1,574,716,493 |
|
Investment_Related
Companies |
35,452,670,630 |
32,652,670,630 |
29,308,616,176 |
|
Investment_Real
Estates |
0 |
3,381,081,486 |
2,974,378,190 |
|
Tangibles |
258,371,324,615 |
235,321,477,992 |
146,080,332,799 |
|
Intangibles |
3,997,078,109 |
3,975,078,109 |
2,968,478,109 |
|
Other Receivables |
1,161,414,950 |
1,151,414,950 |
7,808,855,770 |
|
Other Non-Current
Assets |
1,049,563,275 |
982,611,600 |
1,027,593,200 |
|
Total
Liabilities |
201,841,127,271 |
179,960,427,384 |
91,869,130,534 |
|
Current Liabilities |
78,592,114,475 |
76,740,366,263 |
63,434,320,883 |
|
Trade Payables |
5,450,021,376 |
6,570,706,196 |
5,611,219,571 |
|
Debentures |
61,681,694,825 |
63,681,694,825 |
53,060,000,000 |
|
Other Payables |
9,601,440,668 |
4,773,994,258 |
1,616,802,087 |
|
Deferred Income Tax
Assets |
476,171,132 |
311,713,022 |
2,575,147,142 |
|
Other Current
Liabilities |
1,382,786,474 |
1,402,257,962 |
571,152,083 |
|
Non-Current Liabilities |
123,249,012,796 |
103,220,061,121 |
28,434,809,651 |
|
Long-Term Borrowings |
109,951,058,220 |
89,951,058,220 |
16,234,750,000 |
|
Long-Term Finance Guarantee Debts |
1,049,563,275 |
982,611,600 |
1,027,593,200 |
|
Confirmed Salaries |
9,083,442,119 |
8,585,277,513 |
6,221,005,997 |
|
Deferred Income Tax
Credit |
11,957,057,971 |
11,957,057,971 |
9,554,466,451 |
|
Other Long-Term Payables |
291,333,330 |
329,333,330 |
1,618,000,000 |
|
Capital Stock |
6,084,556,500 |
6,084,556,500 |
6,084,556,500 |
|
Capital Surplus |
38,377,468,436 |
38,377,468,436 |
38,377,468,436 |
|
Others |
3,122,903,456 |
3,122,903,456 |
944,565,574 |
|
Profit Surplus |
129,517,910,362 |
132,068,185,796 |
120,057,128,439 |
|
Total Equity |
177,102,838,754 |
179,653,114,188 |
165,463,718,949 |
|
Liab. &
Shareholder’s Equity |
378,943,966,025 |
359,613,541,572 |
257,332,849,483 |
Income
Statement
|
|||
|
Unit : Korean Won |
01/01/2011~03/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Sales |
36,434,197,712 |
142,896,131,721 |
124,860,736,612 |
|
Cost of Sold Goods |
30,227,881,052 |
110,002,851,937 |
92,666,900,932 |
|
Gross Profit |
6,206,316,660 |
32,893,279,784 |
32,193,835,680 |
|
Selling & Admin.
Expenses |
3,789,866,769 |
12,024,907,747 |
11,338,685,822 |
|
R&D |
208,326,256 |
0 |
0 |
|
Operating Income |
2,208,123,635 |
20,868,372,037 |
20,855,149,858 |
|
Investment Profits on Related Companies |
321,300,000 |
428,400,000 |
0 |
|
Investment Losses on Related Companies |
0 |
0 |
4,892,315,099 |
|
Finance Income |
515,925,668 |
2,614,924,634 |
1,789,039,791 |
|
Finance Expenses |
2,440,629,916 |
4,009,204,005 |
5,815,179,153 |
|
Other Income |
230,712,638 |
1,175,274,922 |
8,129,318,965 |
|
Other Expenses |
50,206,119 |
1,345,284,708 |
2,677,347,890 |
|
Income Before Taxes |
785,225,906 |
19,732,482,880 |
17,388,666,472 |
|
Income Taxes Expenses |
166,149,700 |
3,895,215,571 |
3,454,615,697 |
|
Net Income |
619,076,206 |
15,837,267,309 |
13,934,050,775 |
Cash
Flows
|
|||
|
Unit : Korean Won |
01/01/2011~03/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Operating Activities Cash Flows |
2,369,196,100 |
6,009,305,969 |
10,142,092,565 |
|
Net Income |
619,076,206 |
15,837,267,309 |
13,934,050,775 |
|
Adjustment |
3,290,126,573 |
6,205,601,511 |
12,821,036,406 |
|
Interests Received |
16,793,540 |
152,217,542 |
186,625,151 |
|
Dividends Received |
0 |
200,000 |
500,000 |
|
Interests Paid |
-926,890,792 |
-3,066,611,515 |
-2,315,421,492 |
|
Income Taxes |
-1,691,590 |
-3,680,515,463 |
-4,816,472,208 |
|
Cash Flows from
Investing |
-17,015,005,792 |
-92,225,470,050 |
-36,088,440,433 |
|
Cash Flows from
Financing |
14,830,648,360 |
83,687,828,905 |
28,906,625,564 |
|
Increase/Decrease in
Cash |
177,458,539 |
-2,574,949,983 |
2,960,277,696 |
|
Cash at the Beginning
of Year |
1,483,515,273 |
4,058,465,256 |
1,098,187,560 |
|
Cash at the End of
Year |
1,660,973,812 |
1,483,515,273 |
4,058,465,256 |
|
Main Products & Services |
Empty Hard Capsules, Soft Capsule, Health Food, Encapsulation Machine,
Paintball for Leisure Brand Name: EMBO CAPS |
|
Suppliers |
GELITA SWEDEN AB PB LEINER USA GELTECH CO., LTD(180111-0262476) BMW FINANCIAL SERVICES KOREA CO., LTD.(110111-2278756) provides
vehicle leasing services to the Subject company. |
|
Customers |
Major Pharmaceutical companies and
manufacturers |
|
Competitors |
HAN KOOK CAPSULE INDUSTRY CO., LTD. 13-164, SEONGSU 1-GA 2-DONG, SEONGDONG-GU,
SEOUL, KOREA TEL:+82-2-464-0621 FAX:+82-2-464-9503 (*) The Subject is ranked as the 1st
player in domestic market shares(85%). |
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
GELTECH CO., LTD(180111-0262476) (42.84% held by the subject company) SH PHARM. CO., LTD.(121111-0112531) (100.00% held by the subject company) SUHUNG PLAZMA CO., LTD.(110111-2003567) (36.19% held by the subject company) NUTROJIN CO., LTD.(110111-3388215) (30.00% held by the subject company) UNI-CAPS CO., LLC. (50.00% held by JUMBO CAPSULE) |
|
Overseas Office |
SUHEUNG-VIETNAM CO., LTD 3RD FLOOR, ROOM 6, 268 TO HIEN THANH ST.,
WARD 15, DIST 10, HCMC. VIETNAM TEL:+84-83-868-1363 FAX:+84-83-868-1366 SUHEUNG-EUROPE REPRESENTATIVE OFFICE A. SENOE 3 VARAZDIN 42000 CROATIA TEL:+38-599-509-8469 FAX:+38-542-71-2212 SUHEUNG-AMERICA CORPORATION 350 RANGER AVE. UNIT A BREA, CA, 92821 TEL:+1-714.996.7700 FAX:+1-714.996.7100 SUHEUNG-JAPAN CO., LTD. POST CODE 101-0035 SUZUNO BLDG. 3F 11
BANCHI, KANDA-KONYACHO, CHIYODA-KU, TOKYO, JAPAN TEL:+81-3-5256-7501 FAX:+81-3-5256-8008 |
|
Subsidiary |
GELTECH CO., LTD(180111-0262476) (42.84% held by the subject company) SUHUNG PLAZMA CO., LTD.(110111-2003567) (36.19% held by the subject company) SUHEUNG-AMERICA CORPORATION (100.0% held by the subject company) SUHEUNG-VIETNAM CO., LTD (100.00% held by the subject company) SUHEUNG-JAPAN CO., LTD. (100.00% held by the subject company) SH PHARM. CO., LTD.(121111-0112531) (100.00% held by the subject company) SUHEUNG NEW ZEALAND CO., LTD. (100.00% held by the subject company) |
|
Cooperative Enterprise |
-Insured Company DONGBU INSURANCE CO., LTD.(110111-0095285) LIG INSURANCE CO., LTD(110111-0017859) KOREA LIFE INSURANCE CO., LTD.(110111-0003204) |
(Activity & Markets)
The Subject exports
to France, Germany, Japan, Turkey and USA.
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.34 |
|
UK Pound |
1 |
Rs.86.45 |
|
Euro |
1 |
Rs.68.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.