|
Report Date : |
15.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
CHONG KUN DANG PHARMACEUTICAL CORP |
|
|
|
|
Registered Office : |
368, Chungjeongno 3-ga, Seodaemun-gu, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
07.05.1941 |
|
|
|
|
Com. Reg. No.: |
113-81-06667 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacturer of Finished Medicaments |
|
|
|
|
No. of Employees : |
1,473 |
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 : |
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Company
Name |
CHONG KUN DANG PHARMACEUTICAL CORP. (Trade Name : CKD Pharm) (Korean Company Name : “(주)종근당”) |
|
Registered Address |
368, Chungjeongno 3-ga, Seodaemun-gu, |
|
Zip Code |
120-756 |
|
Tel |
+82-2-2194-0300 |
|
Fax |
+82-2-2194-0335 |
|
E-mail |
webmaster@ckdpharm.com;ckdexport@ckdpharm.com;intl@ckdbio.com
|
|
Website |
|
|
Trading Address |
368, Chungjeongno 3-ga, Seodaemun-gu, |
|
Tel |
+82-2-2194-0300 |
|
Fax |
+82-2-2194-0335 |
|
Other Address-Cheonan Factory( |
15-20, Osaekdang-ri, Seonggeo-eup,
Seobuk-gu, Cheonan-si, |
|
Tel |
+82-41-529-3100 |
|
Fax |
+82-41-558-3005 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Finished Medicaments |
|
Main Business |
Antipyretic, Digestive, Antibiotic |
|
Established (mm/dd/yyyy) |
05/07/1941 |
The Subject owns
the premises of Cheonan Factory(235,046㎡).
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Antibiotics(51101500) |
|
Sell |
Antihistamines or H1 blockers(51161600) |
|
Sell |
Immunosuppressants(51201500) |
|
Sell |
Dietary supplements and nutritional therapy products(51191900) |
|
Sell |
Drugs affecting the gastrointestinal system(51170000) |
|
Sell |
Antispasmodics(51172100) |
|
Sell |
Non narcotic analgesics and antipyretics(51142000) |
|
Sell |
Anthelmintics and other antiparasitics(51101700) |
|
Buy |
Flavours or extracts(12164502) |
|
Buy |
Antiseptics(51102700) |
|
Buy |
Cyclosporine(51201502) |
|
Buy |
Menthol(51161803) |
|
Name |
Kim Jung-Woo |
|
Date of Birth |
08/19/1946 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
32,625,000,000 |
||||||||||||||||||
|
Employees |
1,473 |
||||||||||||||||||
|
Formation |
Listed Company ( A Company of CHONG KUN DANG |
||||||||||||||||||
|
Bank Details |
Woori Bank-Ahyeon-Station Branch |
||||||||||||||||||
|
Corporate Registered No. |
110111-0028955 |
||||||||||||||||||
|
Business Registered No. |
113-81-06667 |
||||||||||||||||||
|
Permit & Licenses |
Int’l Trade No.: 690104 |
||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||
|
Company History |
2004 Launched new anticancer drug, CKD-602
(Camtobell Inj.) 2003 KFDA (Korea Food & Drug
Administration) approved CKD-602 (Camtobell Inj.) for the treatments of small
cell lung cancer and ovarian cancer 2003 Filed DMF for Potassium Clavulanate
with 2003 Obtained Certificate of Suitability
(COS) for Bacampicillin HCl with EDQM 2002 2001 Separation of CKD Pharm and CKD Bio 2000 Out-licensed CKD-602, a novel
anticancer agent to ALZA Corp. 2000 Out-licensed the formulation
technology of Omeprazole Tab to Hexal AG, 1999 Obtained approval of BGMP for Ansan
plant 1998 CKD Research Institute moved to
Chonan and Ansan 1998 Obtained approval of KGMP for Chonan
plant 1998 Formulation plant ( 1997 Produced Lovastatin 1994 Produced Cyclosporin A 1993 Produced 7-ACA 1991 1988 Completed a new fermentation plant in
Ansan 1987 1985 1980 US FDA approval obtained for
Oxytetracycline Hydrochloride and Tetracycline Hydrochloride 1974 Completed a fermentation plant ( 1972 Established the Central Research Laboratories 1970 Antibiotic raw materials exported to 1968 US FDA approval obtained for
Chloramphenicol, Chloramphenicol Palmitate and Sterile Chloramphenicol Sodium
Succinate (First US FDA approval for korean products) 1967 Completed a production plant 1956 Chong Kun Dang Pharmaceutical Co.,
Ltd. established at Chungjungro, Seodaemun-ku, 1941"Gungbon Pharmacy" founded on May 7, by late Chairman Mr.
Chong Kun Lee, at 85, Ahyundong, Seodaemun-ku, Seoul, Korea. |
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
Chairman & CEO |
Dr. |
Lee Jang-Han |
Korean |
1952.08.28 |
|
|
President & CEO |
Mr. |
Lee Kyung-Joo |
Korean |
1956.01.25 |
- |
|
Director |
Mr. |
Kim Jung-Woo |
Korean |
1946.08.19 |
|
|
Vice Chairman |
Mr. |
Kim Young-Eun |
Korean |
1947.03.31 |
|
|
Director |
Mr. |
Kim Sung-Ki |
Korean |
1954.08.09 |
|
|
Director |
Mr. |
Ha Seung-Ho |
Korean |
1954.05.08 |
|
|
Outside Director |
Mr. |
Lee Jong-Yoon |
Korean |
1947.02.11 |
|
|
Outside Director |
Mr. |
Oh Dae-Kyu |
Korean |
1952.08.02 |
|
|
Auditor |
Mr. |
Park Jung-Soo |
Korean |
1954.08.21 |
|
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
104,157,000,000 |
|
7,001,000,000 |
|
|
(*)2011 |
442,194,675,857 |
570,853,740,753 |
49,050,618,244 |
|
(*)2010 |
419,632,736,301 |
540,920,386,750 |
40,070,710,974 |
|
2009 |
354,496,947,951 |
390,409,266,372 |
25,192,546,319 |
|
2008 |
303,232,967,170 |
366,493,888,931 |
20,422,245,079 |
|
2007 |
252,021,524,805 |
331,196,721,429 |
19,943,793,940 |
|
2006 |
242,809,965,103 |
323,215,003,158 |
22,417,161,418 |
|
2005 |
235,774,161,462 |
296,158,281,228 |
24,914,261,577 |
|
2004 |
186,220,354,615 |
263,201,563,832 |
15,616,129,291 |
|
2003 |
162,000,707,248 |
275,272,114,236 |
9,609,165,067 |
(*)2010 and 2011’s
figures are based on the K-IFRS Accounting System.
(**)The financials
(03/2012) are released by the subject company as tentative figures as of
04/27/2012. It can be changeable by the Auditors confirmation.
|
Authorized Capital(KRW) |
100,000,000,000 |
|
Paid-Up Capital(KRW) |
32,625,000,000 |
|
Total Issued Shares |
13,050,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Total Assets |
570,853,740,753 |
540,920,386,750 |
|
|
Current
Assets |
295,059,098,520 |
282,046,514,328 |
|
|
Cash & Cash Equivalents |
59,736,723,598 |
71,636,666,584 |
|
|
Current Financial Instruments |
20,650,000,000 |
2,640,000,000 |
|
|
Trade Receivables |
142,377,322,977 |
127,878,646,248 |
|
|
Other Receivables |
17,942,606,360 |
24,467,520,959 |
|
|
Guarantee Deposits |
2,040,957,289 |
2,528,760,695 |
|
|
Advance Payments |
410,150,974 |
568,365,000 |
|
|
Prepaid Expenses |
806,433,906 |
1,000,914,121 |
|
|
Unearned Income |
608,808,072 |
318,536,538 |
|
|
Inventories |
50,486,095,344 |
51,007,104,183 |
|
|
Non-Current
Assets |
275,794,642,233 |
258,873,872,422 |
|
|
Non-Current Financial Instruments |
4,371,000,000 |
2,359,000,000 |
|
|
Marketable Financial Instruments |
14,444,558,857 |
13,015,193,782 |
|
|
Investment_Subsidiaries |
37,621,802,127 |
36,772,392,696 |
|
|
Investment_Related Companies |
89,239,905 |
89,239,905 |
|
|
Guarantee Deposits |
2,906,091,030 |
3,089,019,265 |
|
|
Tangibles |
175,850,966,421 |
161,797,202,000 |
|
|
Investment_Real Estates |
21,796,567,844 |
22,250,661,196 |
|
|
Intangibles |
18,640,316,049 |
19,427,063,578 |
|
|
Other Investment |
74,100,000 |
74,100,000 |
|
|
Total
Liabilities |
226,600,480,205 |
232,587,103,772 |
|
|
Current
Liabilities |
151,814,505,646 |
130,222,266,264 |
|
|
Trade Payables |
29,883,114,995 |
33,300,509,725 |
|
|
Account Payables |
18,343,232,447 |
14,427,982,836 |
|
|
Short-Term Borrowings |
79,630,000,000 |
51,000,000,000 |
|
|
Withholdings |
1,176,585,215 |
1,089,369,357 |
|
|
VAT Withhold |
5,891,369,167 |
6,004,466,626 |
|
|
Guarantee Deposits |
1,170,993,453 |
1,651,444,887 |
|
|
Accrued Expenses |
4,625,708,975 |
8,558,007,974 |
|
|
Accrued Income Tax |
8,078,223,415 |
11,284,665,091 |
|
|
Finance Guarantee Liabilities |
84,479,631 |
143,892,603 |
|
|
Provisions |
2,912,759,703 |
2,733,142,878 |
|
|
Other Current Liabilities |
18,038,645 |
28,784,287 |
|
|
Non-Current
Liabilities |
74,785,974,559 |
102,364,837,508 |
|
|
Long-Term Borrowings |
46,600,000,000 |
75,400,000,000 |
|
|
Long-Term Account Payables |
10,623,069,935 |
10,447,820,767 |
|
|
Guarantee Deposits |
23,310,852 |
216,189,061 |
|
|
Deferred Income Tax Credit |
6,002,816,292 |
3,897,509,692 |
|
|
Provision for Severance &
Retirement |
11,536,777,480 |
12,403,317,988 |
|
|
Capital
Stock |
32,625,000,000 |
32,625,000,000 |
|
|
Installments |
24,967,786,012 |
29,858,899,014 |
|
|
Others |
443,220,462 |
1,591,321,866 |
|
|
Profit Surplus |
286,217,254,074 |
244,258,062,098 |
|
|
Total Equity |
344,253,260,548 |
308,333,282,978 |
|
|
Liab. & Shareholder’s Equity |
570,853,740,753 |
540,920,386,750 |
|
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Sales |
442,194,675,857 |
419,632,736,301 |
|
|
Cost of Sold Goods |
174,105,088,566 |
162,213,042,063 |
|
|
Gross Profit |
268,089,587,291 |
257,419,694,238 |
|
|
Selling & Admin.
Expenses |
199,304,021,227 |
196,174,109,713 |
|
|
Other Operating
Profits |
3,600,037,805 |
749,651,023 |
|
|
Other Operating
Income |
5,182,562,757 |
4,354,679,472 |
|
|
Other Operating
Expenses |
1,582,524,952 |
3,605,028,449 |
|
|
Operating Income |
72,385,603,869 |
61,995,235,548 |
|
|
Finance Profits |
-4,736,303,862 |
-5,558,171,035 |
|
|
Finance Income |
2,590,646,283 |
1,293,754,719 |
|
|
Finance Expenses |
7,326,950,145 |
6,851,925,754 |
|
|
Income Before Taxes |
67,649,300,007 |
56,437,064,513 |
|
|
Income Taxes Expenses |
18,598,681,763 |
16,366,353,539 |
|
|
Net Income |
49,050,618,244 |
40,070,710,974 |
|
Cash
Flows
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Operating
Activities Cash Flows |
44,918,331,861 |
75,097,308,386 |
|
|
Cash Flows from Operating |
69,277,612,797 |
90,549,281,819 |
|
|
Net Income |
49,050,618,244 |
40,070,710,974 |
|
|
Adjustment |
48,786,423,866 |
45,697,402,351 |
|
|
Changes in Asset/ & Liability |
-28,559,429,313 |
4,781,168,494 |
|
|
Interests Received |
1,898,137,643 |
1,396,993,829 |
|
|
Interests Paid |
-7,330,511,609 |
-6,448,957,056 |
|
|
Dividends Received |
130,188,700 |
131,544,100 |
|
|
Income Taxes |
-19,057,095,670 |
-10,531,554,306 |
|
|
Cash
Flows from Investing |
-45,629,458,771 |
-47,435,230,830 |
|
|
Cash Inflow from
Investing |
6,189,591,292 |
8,215,925,174 |
|
|
Cash Outflows for
Investing |
-51,819,050,063 |
-55,651,156,004 |
|
|
Cash
Flows from Financing |
-11,257,796,002 |
2,416,821,460 |
|
|
Cash Inflows from
Financing |
12,000,000,000 |
75,400,000,000 |
|
|
Cash Outflows from
Financing |
-23,257,796,002 |
-72,983,178,540 |
|
|
Increase/Decrease in Cash |
-11,968,922,912 |
30,078,899,016 |
|
|
Cash at the Beginning of Year |
71,636,666,584 |
41,571,160,689 |
|
|
Cash at the End of Year |
59,736,723,598 |
71,636,666,584 |
|
|
Main Products & Services |
Antipyretic, Digestive, Antibiotic Anthelmintics Antibiotics Antihistamines or H1 blockers Antispasmodics Cipol-N Soft Caps Cyclosporine Digestives Drugs used for respiratory tract disorders Extract Glycyrrhiza extract Hair care supplies Insecticides and insect control traps Menthol Non narcotic analgesics and antipyretics Nutritious foods and drugs Spray insecticides Tincture |
|
Suppliers |
ROCHE |
|
Competitors |
DONGA PHARMACEUTICAL CO.,
LTD.(110111-0017990) YUHAN CORPORATION(110111-0014409) HANMI PHAM CO., LTD.(134811-0003187) GREEN CROSS CORPORATION(110111-0109854) |
(Subsidiaries, Joint-Venture
& Affiliates)
|
Affiliates-Domestic |
CHONG KUN DANG INDUSTRIES CO.,
LTD.(110111-0253437) (13.13% held by the subject company) ANSUNG PRECISION MACHINERY CO., LTD.(
134811-0013673) (88.5% held by the subject company) BELLCOM CO., LTD.(110111-2261339) (90.63% held by the subject company) CHONGKUNDANG HEALTH CARE CO.,
LTD.(135011-0049540) (16.44% held by the subject company) CKD VENTURE CAPITAL
CORPORATION(160111-0065098) (56.29% held by the subject company) CKD BIO CORP.(110111-2373308) (3.10% held by the subject company) KYOUNGBO CHEMICAL CO., LTD.
(164811-0001961) (59.28% held by the subject company) CKD BIO CORPORATION(110111-2373308) (3.10% held by the subject company) KOREA HINET CO., LTD. (110111-0892136) BELL SMS CO., LTD.(110111-3483841) CKD LIVING CO., LTD.(110111-3667049) BELL I&S CO., LTD.(110111-3895913) |
|
Affiliates-Overseas |
BARDIA FARMA S.P.A EQUIS PHARMACEUTICALS, INC (60.0% held by the subject company) |
|
Subsidiary |
KYOUNGBO CHEMICAL CO., LTD.
(164811-0001961) (59.28% held by the subject company) CKD VENTURE CAPITAL
CORPORATION(160111-0065098) (56.29% held by the subject company) ANSUNG PRECISION MACHINERY CO., LTD.(
134811-0013673) (88.5% held by the subject company) BARDIA FARMA S.P.A |
(Activity &
Markets)
The Subject deals
with the companies in China, Japan, Pakistan, Vietnam and Guatemala.
There are 4 cases
filed as Defendant(s)/ Debtor(s)/ Respondent(s) amounting 3,245,000,000 KRW.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.71 |
|
UK Pound |
1 |
Rs.86.34 |
|
Euro |
1 |
Rs.69.23 |
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.