|
Report Date : |
12.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
KOMIPHARM
INTERNATIONAL CO., LTD. |
|
|
|
|
Registered Office : |
1236-6, Jeongwang 3-dong, Siheung-si, Gyeonggi-do, Korea, 1Ra-107,
Sihwa Industrial Complex 429-914 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
21.09.1972 |
|
|
|
|
Com. Reg. No.: |
110111-0134372 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Manufacture of Animal Medicaments, Vaccine, Injectable Antibiotics |
|
|
|
|
No. of Employees : |
133 |
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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SOUTH KOREA - ECONOMIC OVERVIEW
South Korea over the past four decades has demonstrated incredible growth and global integration to become a high-tech industrialized economy. In the 1960s, GDP per capita was comparable with levels in the poorer countries of Africa and Asia. In 2004, South Korea joined the trillion dollar club of world economies, and is currently the world's 12th largest economy. Initially, a system of close government and business ties, including directed credit and import restrictions, made this success possible. The government promoted the import of raw materials and technology at the expense of consumer goods, and encouraged savings and investment over consumption. The Asian financial crisis of 1997-98 exposed longstanding weaknesses in South Korea's development model including high debt/equity ratios and massive short-term foreign borrowing. GDP plunged by 6.9% in 1998, and then recovered by 9% in 1999-2000. Korea adopted numerous economic reforms following the crisis, including greater openness to foreign investment and imports. Growth moderated to about 4% annually between 2003 and 2007. Korea''s export focused economy was hit hard by the 2008 global economic downturn, but quickly rebounded in subsequent years, reaching 6.3% growth in 2010. The US-South Korea Free Trade Agreement was ratified by both governments in 2011 and went into effect in March 2012. Throughout 2012 the economy experienced sluggish growth because of market slowdowns in the United States, China, and the Eurozone. The incoming administration in 2013, following the December 2012 presidential election, is likely to face the challenges of balancing heavy reliance on exports with developing domestic-oriented sectors, such as services. The South Korean economy''s long term challenges include a rapidly aging population, inflexible labor market, and heavy reliance on exports - which comprise half of GDP
|
Source : CIA |
|
Company Name |
KOMIPHARM
INTERNATIONAL CO., LTD. (Korean Company
Name : “(주)코미팜”) |
|
Registered Address |
1236-6, Jeongwang 3-dong, Siheung-si,
Gyeonggi-do, Korea |
|
Building |
1Ra-107, Sihwa Industrial Complex |
|
Zip Code |
429-914 |
|
Tel |
+82-31-498-6104~6 |
|
Fax |
+82-31-498-6107 |
|
E-mail |
webmaster@Komipharm.com |
|
Website |
www.komipharm.com |
|
Trading Address |
1Ra-107, Sihwa Industrial Complex, 1236-6,
Jeongwang 3-dong, Siheung-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-498-6104~6 |
|
Fax |
+82-31-498-6107 |
|
Other Address-2nd Factory |
256-1, Dukok-ri, Shinahm-myun, Yeosan-gun,
ChungNam-do, Korea |
|
Tel |
+82-41-333-4262 |
|
Fax |
+82-41-333-4263 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Animal Medicaments |
|
Main Business |
Vaccine, Injectable Antibiotics |
|
Sub
Business |
Research and Experimental Development On Medical Sciences and Pharmacy |
|
Established (mm/dd/yyyy) |
09/21/1972 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Blood analysis laboratory services(85121801) |
|
Sell |
Preservatives(12164501) |
|
Sell |
Veterinary products(42121600) |
|
Sell |
Organic fertilizers and plant nutrients(10171500) |
|
Name |
Yang Yong-Jin |
|
Address |
|
|
Date of Birth |
08/01/1953 |
|
Title |
Chairman & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
5,000,000,000 |
||||||||||||||||||||||||||||||
|
Employees |
133 |
||||||||||||||||||||||||||||||
|
Formation |
Co., Ltd by shares Venture Business Listed Company (KOSDAQ : 041960) as of 10/30/2001 |
||||||||||||||||||||||||||||||
|
Bank Details |
Industrial Bank of Korea-Shihwa Industrial
Complex Branch |
||||||||||||||||||||||||||||||
|
Corporate Registered No. |
110111-0134372 |
||||||||||||||||||||||||||||||
|
Business Registered No. |
133-81-23355 |
||||||||||||||||||||||||||||||
|
Permit & Licenses |
Int’l Trade No.: 21010473 |
||||||||||||||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||||||||||||||
|
Company History |
09/21/1972 Incorporated as Korea
Microbiological Lab., ltd. 09/03/2004 Changed company name to the
present name 10/2006 Designated as a Venture Business
again 10/2007 Designated as a Venture Business
again 10/2008 Designated as a Venture Business
again 11/2008 Awarded US$1 Million Export Top
Prize |
||||||||||||||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
Chairman & CEO |
Mr. |
Yang Yong-Jin |
Korean |
1953.08.01 |
- |
|
President & CEO |
Mr. |
Moon Seong-Cheol |
Korean |
1959.11.13 |
Kyungsang University, Korea |
|
Vice President & CEO |
Mr. |
Song Tae-Jong |
Korean |
1960.11 |
Baruch College School of Business, Computer Information Systems |
|
Sr. Executive Director |
Mr. |
Kim Sang-Hyun |
Korean |
1963.07 |
Seoul National University, Korea |
|
Director |
Mr. |
Kim Soo-Jung |
Korean |
1973.01 |
Hanyang University, Korea |
|
Executive Director |
Mr. |
Kim Ho-Yong |
Korean |
1950.01 |
Korea University, Korea |
|
Outside Director |
Mr. |
Yoo Jung-Ki |
Korean |
1946.06.06 |
Hanyang University, Korea |
|
Auditor |
Mr. |
Park Yi-Keun |
Korean |
1967.07.05 |
KAIST, Korea |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2012 |
17,726,085,570 |
109,692,707,501 |
911,569,206 |
|
2011 |
20,984,013,549 |
75,454,548,654 |
272,384,973 |
|
2010 |
18,579,559,822 |
63,862,358,010 |
23,257,264 |
|
2009 |
18,173,230,855 |
38,511,573,730 |
553,278,904 |
|
2008 |
16,002,022,429 |
36,066,300,958 |
-3,145,741,258 |
|
12,012,051,257 |
32,774,147,800 |
-964,442,940 |
Financial
Description
|
Authorized Capital(KRW) |
30,000,000,000 |
|
Paid-Up Capital(KRW) |
5,034,870,400 |
|
Total Issued Shares |
50,348,704 |
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Total Assets |
109,692,707,501 |
75,454,548,654 |
63,862,358,010 |
|
Current
Assets |
29,406,931,961 |
31,368,358,708 |
28,518,573,693 |
|
Inventories |
10,036,312,730 |
6,416,329,483 |
5,627,979,369 |
|
Trade Receivables & Other
Receivables |
14,467,024,470 |
13,758,727,837 |
8,233,048,604 |
|
Current Financial Instruments |
5,618,782 |
- |
15,358,142 |
|
Other Current Assets |
3,683,991,402 |
3,758,423,777 |
2,691,396,969 |
|
Deferred Income Tax Assets |
232,035,692 |
34,160,780 |
- |
|
Cash & Cash Equivalents |
981,948,885 |
7,400,716,831 |
11,950,790,609 |
|
Non-Current
Assets |
80,285,775,540 |
44,086,189,946 |
35,343,784,317 |
|
Tangibles |
54,152,089,812 |
31,055,263,739 |
22,882,691,902 |
|
Intangibles |
9,030,761,466 |
6,103,059,374 |
3,967,005,492 |
|
Investment_Related Companies |
5,245,672,720 |
5,245,672,720 |
6,939,709,080 |
|
Investment_Subsidiaries |
201,900,000 |
201,900,000 |
201,900,000 |
|
Other Financial Assets |
10,393,271,542 |
288,214,113 |
224,397,843 |
|
Other Receivables |
1,262,080,000 |
1,192,080,000 |
1,128,080,000 |
|
Total
Liabilities |
64,578,223,763 |
35,911,688,292 |
24,830,776,723 |
|
Current
Liabilities |
22,951,683,901 |
10,417,349,142 |
10,002,619,699 |
|
Short-Term Borrowings |
13,248,581,787 |
8,500,000,000 |
8,500,000,000 |
|
Trade Payables & Other
Payables |
9,692,432,323 |
1,890,269,907 |
1,462,007,125 |
|
Deferred Income Tax Credit |
- |
- |
15,091,795 |
|
Other Current Liabilities |
10,669,791 |
27,079,235 |
25,520,779 |
|
Non-Current
Liabilities |
41,626,539,862 |
25,494,339,150 |
14,828,157,024 |
|
Long-Term Borrowings |
39,638,614,296 |
23,260,127,127 |
12,564,196,295 |
|
Provision for Severance &
Retirement |
- |
- |
89,589,335 |
|
Deferred Income Tax Credit |
1,987,925,566 |
2,234,212,023 |
2,174,371,394 |
|
Capital
Stock |
5,034,870,400 |
5,000,000,000 |
5,000,000,000 |
|
Capital Surplus |
30,522,225,049 |
26,314,163,360 |
26,440,006,813 |
|
Others |
-205,996,524 |
-623,118,605 |
-1,308,180,670 |
|
Installments |
640,649,021 |
640,649,021 |
7,222,995,726 |
|
Profit Surplus |
9,122,735,792 |
8,211,166,586 |
1,676,759,418 |
|
Total Equity |
45,114,483,738 |
39,542,860,362 |
39,031,581,287 |
|
Liab. & Shareholder’s Equity |
109,692,707,501 |
75,454,548,654 |
63,862,358,010 |
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Sales |
17,726,085,570 |
20,984,013,549 |
18,579,559,822 |
|
Cost of Sold Goods |
11,349,394,478 |
12,496,461,582 |
10,651,335,206 |
|
Gross Profit |
6,376,691,092 |
8,487,551,967 |
7,928,224,616 |
|
Selling & Admin.
Expenses |
6,128,769,508 |
7,676,536,450 |
7,745,824,085 |
|
Operating Income |
247,921,584 |
811,015,517 |
182,400,531 |
|
Other Expenses |
289,627,129 |
801,988,530 |
149,276,350 |
|
Operating Income |
895,601,368 |
493,928,894 |
120,591,572 |
|
Finance Income |
1,420,566,722 |
352,659,996 |
35,415,421 |
|
Finance Expenses |
770,522,624 |
1,128,400,987 |
481,512,225 |
|
Income Before Taxes |
291,991,443 |
343,334,162 |
-235,011,495 |
|
Income Taxes Expenses |
-619,577,763 |
70,949,189 |
-258,268,759 |
|
Net Income |
911,569,206 |
272,384,973 |
23,257,264 |
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Operating Activities Cash Flows |
5,586,186,071 |
-5,727,906,695 |
-2,988,837,888 |
|
Net Income |
911,569,206 |
272,384,973 |
23,257,264 |
|
Adjustment |
2,636,791,454 |
1,976,322,040 |
1,928,852,773 |
|
Changes in Asset/
& Liability |
2,418,755,529 |
-7,475,491,389 |
-4,537,928,220 |
|
Interests Received |
90,979,276 |
327,109,312 |
29,497,613 |
|
Interests Paid |
-471,909,394 |
-828,231,631 |
-417,425,523 |
|
Income Taxes |
|
|
-15,091,795 |
|
Cash Flows from
Investing |
-36,873,243,372 |
-9,222,167,083 |
-3,006,227,174 |
|
Cash Flows from
Financing |
24,868,907,334 |
10,400,000,000 |
17,047,992,097 |
|
Increase/Decrease in
Cash |
-6,418,149,967 |
-4,550,073,778 |
11,052,927,035 |
|
Cash at the Beginning
of Year |
7,400,716,831 |
11,950,790,609 |
897,863,574 |
|
Cash at the End of
Year |
982,566,864 |
7,400,716,831 |
11,950,790,609 |
|
Main Products & Services |
Vaccine, Injectable Antibiotics Brand Name : AKL, RES-VAC, T-MAX, PANKILL,
9R-VAC |
|
Suppliers |
ABICON CHEMI CO., LTD. YANGSUNG ANIMAL BIO CO., LTD. IHYO BIO SCIENCE CO., LTD. |
|
Customers |
|
|
Competitors |
KBNP, INC.(164211-0000543) 254-18, DUGOK-RI, SINAM-MYEON, YESAN-GUN,
CHUNGCHEONGNAM-DO, KOREA TEL:+82-31-478-5770 FAX:+82-31-478-5771 DAESUNG MICROBIOLOGICAL LABS. CO.,
LTD.(134111-0000880) 293,
SAM-DONG, UIWANG-SI, GYEONGGI-DO, KOREA TEL:+82-31-461-7103 FAX:+82-31-461-0599 CHOONG ANG VACCINE
LABORATORY(160111-0042533) 59-3, HWAAM-DONG, YUSEONG-GU, DAEJEON,
KOREA TEL:+82-42-863-9322 FAX:+82-42-863-8454 |
|
Affiliates |
KOMINOX, INC. (40.0% held by the subject company) K.I.A, INC. (100.0% held by the subject company) KWANGZHOU SUYONG BIO PRODUCTS CO., LTD. (20.0% held by the subject company) |
|
Subsidiary |
KOMIPHARM INTERNATIONAL AMERICA, INC. (100.0% held by the subject company) |
|
Cooperative Enterprise |
-Insured Company HANWHA NON-LIFE INSURANCE CO., LTD.(110111-0006456) DONGBU INSURANCE CO., LTD.(110111-0095285) |
The Subject deals
with the companies in Asia. It imports from France and China.
|
Case No. |
Court |
Plaintiff(s)/
Creditor(s)/ Applicant(s) |
Defendant(s)/
Debtor(s)/ Respondent(s) |
Cause |
Amount (KRW) |
Status |
|
|
Seoul High Court, Korea |
Lee Sang-Bong |
The Subject Company and Yang Yong-Jin |
|
|
|
|
|
Seoul Central District Court |
|
|
Execution of transferring Patent |
- |
Proceeding |
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.33 |
|
|
1 |
Rs.100.79 |
|
Euro |
1 |
Rs.84.37 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.