MIRA INFORM REPORT
|
Report Date : |
07.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
DAEWOONG BIO INC. |
|
|
|
|
Registered Office : |
906-5, Sangsin-ri, Hyangnam-eup,
Hwaseong-si, Gyeonggi-do, Korea, Hyangnam
Pharmaceutical Industries Complex, Zip Code 445-922 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
02.04.2009 |
|
|
|
|
Com. Reg. No.: |
124-86-77584 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Manufacture of Medicinal Chemicals and Antibiotics |
|
|
|
|
No. of Employees
: |
185 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment
Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Exists |
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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Hong Kong |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Basic
|
Company
Name |
DAEWOONG BIO INC. (Korean Company Name : “대웅바이오(주)”) |
|
Registered Address |
906-5, Sangsin-ri, Hyangnam-eup,
Hwaseong-si, Gyeonggi-do, Korea |
|
Building |
Hyangnam Pharmaceutical Industries Complex |
|
Zip Code |
445-922 |
|
Tel |
+82-31-353-5271~3 |
|
Fax |
+82-31-353-5626 |
|
E-mail |
|
|
Website |
|
|
Trading Address |
Daewoong Pharmaceutical Bldg.,163-3,
Samseong-dong, Gangnam-gu, Seoul, Korea |
|
Tel |
+82-2-550-8641 |
|
Fax |
+82-2-550-8249 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Medicinal Chemicals and Antibiotics |
|
Main Business |
Ursodeoxycholic Acid, Amoxicillin, Ceftriaxone Sodium, Coenzyme Q10,
Cefodizime Sodium, Cefotiam Hydrochloride, Lansoprazole, Fluconazole |
|
Established (mm/dd/yyyy) |
04/02/2009 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Drugs and Pharmaceutical Products(51000000) |
|
Sell |
Penicillin(51101507) |
CEO’s
|
Name |
Lee Jong-Wook |
|
Address |
Suite 117-603, 155, Seongbok-dong,
Suji-gu, Yongin-si, Gyeonggi-do, Korea |
|
Date of Birth |
03/10/1949 |
|
Title |
Co-President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
1,000,000,000 |
|||||||||
|
Employees |
185 |
|||||||||
|
Formation |
Co., Ltd by shares A Company of DAEWOONG GROUP |
|||||||||
|
Bank Details |
Woori Bank-Samsung Dong Branch |
|||||||||
|
Corporate Registered No. |
134811-0172221 |
|||||||||
|
Business Registered No. |
124-86-77584 |
|||||||||
|
Permit & Licenses |
Int’l Trade No.: 45370498 |
|||||||||
|
Shareholder Position |
|
|||||||||
|
Company History |
04/02/2009
Incorporated as the present name after spinning off Raw Materials Business
for Pharmaceuticals from DAEWOONG CHEMICAL CO., LTD.(131112-0004827) located at 906-5, Sangsin-ri, Hyangnam-eup,
Hwaseong-si, Gyeonggi-do, Korea. |
|||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Co-President & CEO |
Mr. |
Lee Jong-Wook |
Male |
Korean |
12/10/2009 |
|
Co-President & CEO |
Mr. |
Yoon Jae-Seung |
Male |
Korean |
06/08/2009 |
|
Director |
Mr. |
Yoon Jae-Hoon |
Male |
Korean |
04/02/2009 |
|
Director |
Mr. |
Yoon Jae--Choon |
Male |
Korean |
04/02/2009 |
|
Director |
Mr. |
Seo Jong-Won |
Male |
Korean |
06/28/2010 |
|
Auditor |
Mr. |
Lee Jin-Ho |
Male |
Korean |
04/02/2009 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
91,698,215,718 |
131,263,223,971 |
6,735,827,597 |
|
|
03/2010 |
101,131,109,420 |
96,739,291,272 |
9,026,412,992 |
|
03/2009 |
|
|
|
06/28/2010 Decided
to change the financial closing date to December 31 from March 31.
Financial Description
|
Authorized Capital(KRW) |
5,000,000,000 |
|
Paid-Up Capital(KRW) |
1,000,000,000 |
|
Total Issues Shares |
200,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
04/01/2010~12/31/2010 |
04/01/2009~03/31/2010 |
As of 03/31/2009 |
|
Total Assets |
131,263,223,971 |
96,739,291,272 |
|
|
Current Assets |
44,631,046,236 |
47,027,655,844 |
|
|
-Quick Assets |
28,629,022,406 |
30,853,939,238 |
|
|
-Inventories |
16,002,023,830 |
16,173,716,606 |
|
|
Fixed Assets |
86,632,177,735 |
49,711,635,428 |
|
|
-Investment |
4,716,627,153 |
5,167,351,207 |
|
|
-Tangibles |
79,006,761,513 |
43,999,287,531 |
|
|
-Intangibles |
1,212,727,232 |
284,699,128 |
|
|
-Others |
1,696,061,837 |
260,297,562 |
|
|
Total Liabilities |
50,754,627,508 |
23,339,082,968 |
|
|
Current Liabilities |
35,274,755,777 |
19,930,939,913 |
|
|
Fixed Liabilities |
15,479,871,731 |
3,408,143,055 |
|
|
Capital Stock |
1,000,000,000 |
1,000,000,000 |
|
|
Capital Surplus |
63,373,795,312 |
63,373,795,312 |
|
|
Profit Surplus |
372,560,562 |
- |
|
|
Capital
Adjustment |
15,762,240,589 |
9,026,412,992 |
|
|
Total Equity |
80,508,596,463 |
73,400,208,304 |
|
|
Liab. &
Shareholder’s Equity |
131,263,223,971 |
96,739,291,272 |
|
|
Current
Liabilities |
35,274,755,777 |
19,930,939,913 |
|
|
Trade Payables |
16,368,497,027 |
14,803,654,346 |
|
|
Account Payables |
10,087,834,773 |
3,648,869,619 |
|
|
Short-Term
Borrowings |
6,800,000,000 |
- |
|
|
Accrued Income Tax |
1,670,652,506 |
1,343,943,667 |
|
|
Withholdings |
287,771,471 |
64,049,400 |
|
|
Guarantee
Deposit Withhold |
60,000,000 |
- |
|
|
Advance Receipts |
- |
70,422,881 |
|
|
Fixed
Liabilities |
15,479,871,731 |
3,408,143,055 |
|
|
|
12,000,000,000 |
- |
|
|
Provision for Severance &
Retirement |
1,984,388,990 |
1,867,666,660 |
|
|
Leasehold Deposit Received |
3,000,000,000 |
3,000,000,000 |
|
Income
Statement
|
|||
|
Unit : Korean Won |
04/01/2010~12/31/2010 |
04/01/2009~03/31/2010 |
As of 03/31/2009 |
|
Sales |
91,698,215,718 |
101,131,109,420 |
|
|
Cost of Sold Goods |
73,288,228,479 |
82,432,798,081 |
|
|
Gross Profit |
18,409,987,239 |
18,698,311,339 |
|
|
Selling & Admin. Expenses |
8,521,484,406 |
7,007,623,370 |
|
|
Operating Income |
9,888,502,833 |
11,690,687,969 |
|
|
Non-Operating Income |
2,128,017,369 |
2,541,586,970 |
|
|
Non-Operating Expenses |
2,952,377,377 |
2,167,282,848 |
|
|
Income Before Taxes |
9,064,142,825 |
12,064,992,091 |
|
|
Income Taxes Expenses |
2,328,315,228 |
3,038,579,099 |
|
|
Net Income |
6,735,827,597 |
9,026,412,992 |
|
Cash
Flows
|
|||
|
Unit :
Korean Won |
04/01/2010~12/31/2010 |
04/01/2009~03/31/2010 |
As of 03/31/2009 |
|
Cash Flows
from Operating |
12,771,925,538 |
7,417,333,376 |
|
|
-Net Income |
6,735,827,597 |
9,026,412,992 |
|
|
-Exp.
without Cash Outflow |
4,454,368,526 |
4,202,087,190 |
|
|
-Revenue
without Cash Inflows |
-564,342,928 |
-71,647,899 |
|
|
-Changes in
Asset/ & Liability |
2,146,072,343 |
-5,739,518,907 |
|
|
Cash Flows
from Investing |
-34,620,956,069 |
-2,604,773,741 |
|
|
-Cash Inflow
from Investing |
5,358,178,332 |
5,069,204,400 |
|
|
-Cash
Outflows for Investing |
-39,979,134,401 |
-7,673,978,141 |
|
|
Cash Flows
from Financing |
18,800,000,000 |
-4,000,000,000 |
|
|
-Cash
Inflows from Financing |
18,800,000,000 |
- |
|
|
-Cash
Outflows from Financing |
- |
-4,000,000,000 |
|
|
Increase/Decrease
in Cash |
-3,049,030,531 |
812,559,635 |
|
|
Cash at the
Beginning of Year |
4,240,597,493 |
3,428,037,858 |
|
|
Cash at the End of Year |
1,191,566,962 |
4,240,597,493 |
|
Products, Technologies, Services Description
|
Main Products & Services |
Ursodeoxycholic Acid, Amoxicillin, Ceftriaxone Sodium, Coenzyme Q10,
Cefodizime Sodium, Cefotiam Hydrochloride, Lansoprazole, Fluconazole |
Trade Partners & Competitors
|
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 |
DAEWOONG CO., LTD.(110111-2857146) DAEWOONG INTERNATIONAL
CORP.(110111-0742985) R&P KOREA CO., LTD.(110111-0358021) DAEWOONG MANEGEMENT DEVELOPMENT
INSTITUTE(110111-0776463) CG BIO CO., LTD. DAEWOONG PHARMACEUTICAL CO.,
LTD.(134811-0075342) DAEWOONG CHEMICAL CO., LTD.(131112-0004827) DAEWOONG NUTRITIONS CO.,
LTD.(210111-0013294) EZMEDICOM CO., LTD.(110111-2063818) SANWOONG DEVELOPMENT CO.,
LTD.(110111-0978671) SANWOONG ENGINEERING CO., LTD.(134811-0034421) PHARMPAC CO., LTD.(134811-0048307) PAGE1 CO., LTD.(110111-1771040) DAEWOONG DEVELOPMENT CO.,
LTD.(131111-0083649) IDS&TRUST CO., LTD.(110111-1234006) BEST SYSTEM CO., LTD.(110111-1639850) JEJU MOVIELAND CO., LTD.(224111-0014832) D&P NATURAL MATERIAL RESEARCH
INSTITUTE(134511-0102026) HEALIENCE CO., LTD.(110111-3265778) BIO AGE CO., LTD.(110111-2458689) MD WELL INC.(110111-3716854) HR GROUP CO., LTD. TRUST CO., LTD. BIO ALPHA CO., LTD.(110111-1904518) DAEWOONG PHARMACEUTICAL(THAILAND)CO., LTD DAEWOONG PHARM PHILIPPINES, INCORPORATED BEIJING DAEWOONG PHARMACEUTICAL R&D
CENTER CO., LTD. |
|
Subsidiary |
PT DAEWOONG RIASIMA INDONESIA (50.0% held by the subject company) SACHUN DAEWOONG BIO TECHNOLOGY CO., LTD.(CHINA) (100.0% held by the subject company) BIO ALPHA CO., LTD.(110111-1904518) (66.7% held by the subject company) |
|
Cooperative Enterprise |
-Insured Company DONGBU INSURANCE CO., LTD.(110111-0095285) HANWHA GENERAL INSURANCE CO., LTD.(110111-0006456) LIG INSURANCE CO., LTD.(110111-0017859) |
Sales by Region
(Activity & Markets)
|
Sales/ Unit : KRW |
12/2010 |
03/2010 |
2009 |
|
Export |
45,067,700,420 |
49,106,829,100 |
|
|
Domestic |
46,630,515,298 |
52,024,280,320 |
|
|
Total |
91,698,215,718 |
101,131,109,420 |
|
The Subject deals
with the companies in China, Taiwan, India, Japan, Russia and USA.
Court Action
|
Case No. |
Court |
Plaintiff(s)/ Creditor(s)/ Applicant(s) |
Defendant(s)/ Debtor(s)/ Respondent(s) |
Cause |
Amount (KRW) |
Status |
|
|
Busan High Court |
Kim Hyun-Woong & Others(2) |
The Subject Company |
Claim for Compensation from Damages |
297,378,000 |
2nd round is proceeding. |
News Clipping
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.78 |
|
UK Pound |
1 |
Rs.81.79 |
|
Euro |
1 |
Rs.67.46 |
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.