|
Report Date : |
02.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
HUONS CO., LTD. |
|
|
|
|
Registered Office : |
Rm. 1513, Byucksan Digital Valley 5-cha, 60-73, Gasan-dong,
Geumcheon-gu, Seoul, Korea |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
30.09.2012 |
|
|
|
|
Date of Incorporation : |
30.07.1965 |
|
|
|
|
Com. Reg. No.: |
129-81-07002 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Finished Medicaments |
|
|
|
|
No. of Employees : |
408 |
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 – June 30th,
2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 currently is among the world's 20 largest economies. 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. With the global economic downturn in late 2008, South Korean GDP
growth slowed to 0.3% in 2009. In the third quarter of 2009, the economy began
to recover, in large part due to export growth, low interest rates, and an
expansionary fiscal policy, and growth was 3.6% in 2011. In 2011, the US-South
Korea Free Trade Agreement was ratified by both governments and is projected to
go into effect in early 2012. 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 |
HUONS CO., LTD. (Korean Company
Name : “(주)휴온스”) |
|
Registered Address |
60-73, Gasan-dong, Geumcheon-gu, Seoul,
Korea |
|
Building |
Rm. 1513, Byucksan Digital Valley 5-cha |
|
Zip Code |
153-788 |
|
Tel |
+82-2-854-4700 |
|
Fax |
+82-2-848-0740 |
|
E-mail |
huons@huons.com |
|
Website |
www.huons.com |
|
Trading Address |
Rm. 1513, Byucksan Digital Valley 5-cha,
60-73, Gasan-dong, Geumcheon-gu, Seoul, Korea |
|
Tel |
+82-2-854-4700 |
|
Fax |
+82-2-848-0740 |
|
Other Address-Jecheon Factory |
957, Wangam-dong, Jecheon-si, Chungbuk,
Korea |
|
Tel |
+82-43-653-7300 |
|
Fax |
+82-43-653-7311 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Finished Medicaments |
|
Established (mm/dd/yyyy) |
07/30/1965 |
The Subject owns
the premises of Jecheon Factory.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Anaesthetic drugs and related adjuncts and analeptics(51142900) |
|
Sell |
Acetaminophen(51142001) |
|
Sell |
Antibiotics(51101500) |
|
Sell |
Antacids and antiflatulents(51171500) |
|
Buy |
Chemistry reagents or solutions(41116105) |
|
Buy |
Drugs and Pharmaceutical Products(51000000) |
|
Name |
Jun Jae-Kap |
|
Address |
|
|
Date of Birth |
03/18/1957 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
4,500,000,000 |
|||||||||||||||||||||
|
Employees |
408 |
|||||||||||||||||||||
|
Formation |
(KOSDAQ : 084110) as of
12/19/2006 |
|||||||||||||||||||||
|
Bank Details |
Industrial Bank of Korea |
|||||||||||||||||||||
|
Corporate Registered No. |
110111-0400202 |
|||||||||||||||||||||
|
Business Registered No. |
129-81-07002 |
|||||||||||||||||||||
|
Permit & Licenses |
08/19/2003 ISO 9001 Int’l Trade No.: 11390512 |
|||||||||||||||||||||
|
Shareholder Position |
|
|||||||||||||||||||||
|
Company History |
07/30/1965 Established as Kwangmyung
Pharmaceutical Industry Co.(Sole Proprietorship) 08/08/1987 Incorporated as KWANGMYUNG PHARMACEUTICAL
INDUSTRY CO., LTD. 12/29/1993 Acquired KPMG License 03/06/2003 Changed company name to the
present name 02/2005 Designated as an INNO-BIZ Company 03/16/2007 Moved to the present HQ address
from 907-6,
Sangsin-ri, Hyangnam-eup, Hwaseong-si, Gyeonggi-do, Korea |
|||||||||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
President & CEO |
Mr. |
Jun Jae-Kap |
Korean |
1957.03.18 |
Seoul National University, Korea |
|
Outside Director |
Mr. |
Choi Jong-Duck |
Korean |
1952.08 |
Dongkook University, Korea |
|
Auditor |
M/S. |
Lee In-Sook |
Korean |
1955.01 |
Chungang University, Korea |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
90,081,266,779 |
157,761,826,009 |
5,000,895,519 |
|
|
(*)2011 |
113,122,275,090 |
154,079,615,788 |
4,875,488,135 |
|
(*)2010 |
100,867,362,770 |
148,594,210,164 |
-2,416,027,025 |
|
2009 |
80,893,065,741 |
130,500,953,040 |
7,050,837,026 |
|
2008 |
74,426,049,768 |
104,330,238,817 |
12,253,906,544 |
|
2007 |
63,025,093,446 |
87,504,716,259 |
10,546,452,531 |
|
2006 |
48,074,497,342 |
54,789,752,107 |
7,608,045,435 |
|
2005 |
38,627,899,024 |
40,620,523,714 |
5,626,141,757 |
(*)Figures are based on
the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
10,000,000,000 |
|
Paid-Up Capital(KRW) |
4,500,000,000 |
|
Total Issued Shares |
9,000,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
01/01/2012~09/30/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Total Assets |
157,761,826,009 |
154,079,615,788 |
148,594,210,164 |
|
Current Assets |
85,601,504,137 |
80,683,045,945 |
69,692,355,037 |
|
Cash & Cash
Equivalents |
12,784,359,508 |
5,244,810,429 |
3,031,753,692 |
|
Current Financial
Instruments |
7,300,000,000 |
12,940,000,000 |
962,000,000 |
|
Trade Receivables |
42,204,969,896 |
40,503,218,036 |
40,957,038,129 |
|
Other Receivables |
2,537,479,959 |
3,084,402,804 |
2,609,788,522 |
|
Deferred Income Tax
Assets |
|
|
7,995,410 |
|
Inventories |
17,665,843,213 |
15,814,573,270 |
16,190,179,062 |
|
Other Current Assets |
3,108,851,561 |
3,096,041,406 |
5,933,600,222 |
|
Non-Current Assets |
72,160,321,872 |
73,396,569,843 |
78,901,855,127 |
|
Non-Current Financial
Instruments |
920,810,753 |
747,372,733 |
674,290,120 |
|
Other Long-Term Receivables |
377,317,335 |
2,032,672,647 |
456,020,000 |
|
Marketable Financial
Instruments |
3,758,630,199 |
3,000,611,279 |
2,087,638,656 |
|
Investment_Subsidiaries |
11,585,756,040 |
11,262,260,146 |
7,341,631,375 |
|
Tangibles |
49,942,375,728 |
49,545,081,925 |
61,002,179,565 |
|
Intangibles |
3,563,511,571 |
3,712,223,946 |
3,714,387,563 |
|
Other Non-Current
Assets |
1,533,649,950 |
1,673,564,950 |
1,669,818,740 |
|
Deferred Income Tax
Assets |
478,270,296 |
1,422,782,217 |
1,955,889,108 |
|
Total
Liabilities |
70,022,993,365 |
70,871,782,494 |
69,985,931,558 |
|
Current Liabilities |
42,469,895,451 |
38,734,700,258 |
44,254,693,136 |
|
Trade Payables |
10,720,447,263 |
8,876,987,606 |
8,046,379,256 |
|
Other Payables |
7,516,050,186 |
4,401,123,634 |
4,495,902,110 |
|
Short-Term Borrowings |
12,786,076,840 |
15,678,614,094 |
22,396,295,882 |
|
Deferred Income Tax
Credit |
909,355,557 |
240,847,948 |
0 |
|
Provisions for Refund |
1,059,562,947 |
894,337,833 |
649,537,329 |
|
Current Portion of
Long-Term Debts |
7,825,000,000 |
7,250,000,000 |
7,250,000,000 |
|
Finance Gurantee Debts |
154,550,833 |
129,350,679 |
195,854,215 |
|
Other Current
Liabilities |
1,498,851,825 |
1,263,438,464 |
1,220,724,344 |
|
Non-Current Liabilities |
27,553,097,914 |
32,137,082,236 |
25,731,238,422 |
|
Long-Term Borrowings |
14,500,000,000 |
19,500,000,000 |
24,750,000,000 |
|
Bond With Warrant |
12,778,442,454 |
12,017,135,496 |
0 |
|
Other Non-Current
Liabilities |
274,655,460 |
241,500,000 |
170,500,000 |
|
Confirmed Salaries |
|
378,446,740 |
810,738,422 |
|
Capital Stock |
4,500,000,000 |
4,500,000,000 |
4,500,000,000 |
|
Capital Surplus |
31,170,880,710 |
31,170,880,710 |
28,103,473,359 |
|
Capital Adjustment |
-3,561,358,087 |
-3,897,996,000 |
-3,927,400,660 |
|
Others |
203,081,023 |
922,294,655 |
2,062,360,518 |
|
Profit Surplus |
55,426,228,998 |
50,512,653,929 |
47,493,351,208 |
|
Other Equity |
0 |
0 |
376,494,181 |
|
Total Equity |
87,738,832,644 |
83,207,833,294 |
78,608,278,606 |
|
Liab. &
Shareholder’s Equity |
157,761,826,009 |
154,079,615,788 |
148,594,210,164 |
Income
Statement
|
|||
|
Unit : Korean Won |
01/01/2012~09/30/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Sales |
90,081,266,779 |
113,122,275,090 |
100,867,362,770 |
|
Cost of Sold Goods |
48,742,332,348 |
65,285,665,606 |
61,323,748,662 |
|
Gross Profit |
41,338,934,431 |
47,836,609,484 |
39,543,614,108 |
|
Selling & Admin.
Expenses |
31,365,152,227 |
40,364,253,948 |
38,403,374,508 |
|
Other Operating
Income |
1,376,982,318 |
491,316,011 |
421,333,205 |
|
Operating Income |
11,350,764,522 |
7,963,671,547 |
1,561,572,805 |
|
Profits from Equity Method |
317,865,048 |
302,623,618 |
-750,584,172 |
|
Non-Operating Income |
7,549,496 |
1,796,259,659 |
87,504,028 |
|
Non-Operating
Expenses |
2,047,902,516 |
1,619,919,553 |
2,679,053,058 |
|
Finance Income |
11,901,901,884 |
3,990,117,527 |
1,895,032,676 |
|
Finance Expenses |
13,780,479,115 |
6,840,231,394 |
4,030,566,808 |
|
Income Before Taxes |
7,749,699,319 |
5,592,521,404 |
-3,916,094,529 |
|
Income Taxes Expenses |
2,748,803,800 |
717,033,269 |
-1,500,067,504 |
|
Net Income |
5,000,895,519 |
4,875,488,135 |
-2,416,027,025 |
Cash
Flows
|
|||
|
Unit : Korean Won |
01/01/2012~09/30/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Operating Activities Cash Flows |
12,951,357,696 |
14,696,503,229 |
5,338,424,031 |
|
Net Income |
5,000,895,519 |
4,875,488,135 |
-2,416,027,025 |
|
Adjustment |
9,732,780,926 |
11,851,051,246 |
9,801,535,107 |
|
Interests Received |
510,970,798 |
153,390,754 |
129,798,274 |
|
Dividends Received |
20,918,839 |
|
159,010 |
|
Interests Paid |
-1,178,424,116 |
-2,165,817,556 |
-2,167,289,476 |
|
Income Taxes |
-1,135,784,270 |
-17,609,350 |
-9,751,859 |
|
Cash Flows from
Investing |
1,555,893,323 |
-17,825,494,700 |
-14,637,844,283 |
|
Cash Flows from
Financing |
-7,589,862,202 |
6,965,070,103 |
3,819,375,410 |
|
Increase/Decrease in
Cash |
6,917,388,817 |
3,149,210,892 |
-5,480,044,842 |
|
Cash at the Beginning
of Year |
6,492,830,429 |
3,358,702,056 |
8,839,747,530 |
|
Cash at the End of
Year |
13,411,434,859 |
6,492,830,429 |
3,358,702,056 |
|
Main Products & Services |
Pharmaceuticals, Animal Health,
Pharmaceutical Intermediates |
|
Competitors |
DONGA PHARMACEUTICAL
CO.,LTD(110111-0017990) HANMI PHAM
CO.,LTD(134811-0003187) YUHAN
CORPORATION(110111-0014409) GREEN CROSS
CORPORATION(110111-0109854) CHOONGWAE PHARMA CORPORATION(110111-0019342) |
|
Affiliates |
HUMEDIX CO., LTD.(110111-2727141) (35.55% held by the subject company) HUBENA CO.,LTD.(161311-0005635) (87.50% held by the subject company) |
|
Cooperative Enterprise |
-Strategic Partner ALCON, INC. TOZAI HOLDINGS INC.(110111-1506835) |
The Subject deals
with the companies in India, Japan, Vietnam, Yemen and USA.
No.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.53.32 |
|
UK Pound |
1 |
Rs.84.59 |
|
Euro |
1 |
Rs.72.62 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.