|
Report Date : |
11.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
KYUNG DONG PHARMACEUTICAL CO., LTD. |
|
|
|
|
Registered Office : |
535-3, Daeyang-ri, Yanggam-myeon, Hwaseong-si, Gyeonggi-do, Korea
445-931 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
30.09.2012 |
|
|
|
|
Date of Incorporation : |
12.02.1976 |
|
|
|
|
Com. Reg. No.: |
124-81-35518 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Finished Medicaments |
|
|
|
|
No. of Employees : |
453 |
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 |
KYUNG DONG PHARMACEUTICAL CO., LTD. |
|
Registered Address |
535-3, Daeyang-ri, Yanggam-myeon, Hwaseong-si, Gyeonggi-do, Korea |
|
Zip Code |
445-931 |
|
Tel |
+82-31-352-0990 |
|
Fax |
+82-31-352-0991 |
|
E-mail |
|
|
Website |
www.kdpharma.co.kr |
|
Trading Address |
9-11, Yangjae 1-dong, Seocho-gu, Seoul, Korea |
|
Tel |
+82-2-576-6121 |
|
Fax |
+82-2-577-5195 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Finished Medicaments |
|
Main Business |
Anti-Hypertensive Agent, GI Tract Regulator Antiulcerants, Anti-microbials,
Circulatory Agents, Non-steroidal Anti-inflammatory Drugs, Psychoneural
Agent, Anti-spasmodics, Hepatitis Agent |
|
Established (mm/dd/yyyy) |
02/12/1976 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Antibiotics(51101500) |
|
Sell |
Antimycotics(41106201) |
|
Sell |
Diuretics(51191500) |
|
Sell |
Antiulcer and related gastrointestinal GI drugs(51171900) |
|
Sell |
Non narcotic analgesics and antipyretics(51142000) |
|
Sell |
Antidiabetic agents and hyperglycemic agents(51181500) |
|
Sell |
Drugs affecting the gastrointestinal system(51170000) |
|
Buy |
Amides or imides(12352111) |
|
Buy |
Centrally acting skeletal muscle relaxants(51151900) |
|
Buy |
Anti oxidants(12162200) |
|
Buy |
Drugs used for gallbladder disease(51172000) |
|
Buy |
Terbinafine hydrochloride(51101818) |
|
Buy |
Vitamin supplements(51191905) |
|
Buy |
Neomycin(51101513) |
|
Buy |
Centella asiatica extract(51212002) |
|
Buy |
Organic acids or its substitutes(12352106) |
|
Buy |
Methocarbamol(51151904) |
|
Buy |
Acyclovir(51102301) |
|
Buy |
Biochemicals(12352200) |
|
Buy |
Amino acids or its derivatives(12352209) |
|
Buy |
Chemicals including Bio Chemicals and Gas Materials(12000000) |
|
Name |
Ryu Deok-Hee |
|
Date of Birth |
05/20/1938 |
|
Title |
Chairman & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
13,575,000,000 |
|||||||||||||||||||||
|
Employees |
453 |
|||||||||||||||||||||
|
Formation |
Listed Company (KOSDAQ : 011040) as of 12/18/1992 |
|||||||||||||||||||||
|
Bank Details |
Industrial Bank of Korea-Daechi Station
Branch |
|||||||||||||||||||||
|
Corporate Registered No. |
120111-0003765 |
|||||||||||||||||||||
|
Business Registered No. |
124-81-35518 |
|||||||||||||||||||||
|
Permit & Licenses |
Int’l Trade No.: 590754 |
|||||||||||||||||||||
|
Shareholder Position |
|
|||||||||||||||||||||
|
Company History |
09/1975 Established as YOOIL Sangsa
Co.(Sole Proprietorship) 02/12/1976 Incorporated as the present name 11/2001 Awarded US$1 Million Export Top
Prize 11/30/2007 Awarded US$ 3 Million Export top
Prize 11/2011 Awarded US$ 5 Million Export Top
Prize |
|||||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education/Career |
|
Chairman & CEO |
Mr. |
Ryu Deok-Hee |
Korean |
1938. 05. 20 |
Sungkyunkwan University, Korea |
|
President & CEO |
Mr. |
Lee Byeong-Seok |
Korean |
1953. 12. 28 |
Sungkyunkwan University, Korea |
|
Vice President & CEO |
Mr. |
Ryu Ki-Sung |
Korean |
1982. 06. 21 |
Gangnam University, Korea |
|
Sr. Executive Director |
Mr. |
Nam Ki-Cheol |
Korean |
1957. 10. 11 |
Kyung Dong College, Korea |
|
Outside Director |
Mr. |
Lee Soon-Bo |
Korean |
1944. 06. 04 |
Prof., of Sungkyunkwan University, Korea |
|
Outside Director |
Mr. |
Cha Dong-Ok |
Korean |
1955. 12. 16 |
Prof., of Sungkyunkwan University, Korea |
|
Auditor |
Mr. |
Lee Jae-Bok |
Korean |
1940. 01. 06 |
Sungkyunkwan University, Korea |
|
Auditor |
Mr. |
Chung Sang-Wook |
Korean |
1949. 11. 29 |
Chungang University, Korea |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
92,626,155,822 |
189,850,810,351 |
16,524,812,289 |
|
|
(*)2011 |
127,481,498,458 |
185,585,286,709 |
20,243,397,618 |
|
(*)2010 |
124,208,804,478 |
170,978,576,471 |
19,164,049,976 |
|
2009 |
104,209,578,276 |
159,958,722,100 |
13,475,481,524 |
|
2008 |
81,300,438,387 |
122,925,203,001 |
11,434,908,292 |
(*)Figures are
based on the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
30,000,000,000 |
|
Paid-Up Capital(KRW) |
13,575,000,000 |
|
Total Issues Shares |
13,575,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
01/01/2012~09/30/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Total Assets |
189,850,810,351 |
185,585,286,709 |
170,978,576,471 |
|
Current Assets |
100,994,684,495 |
98,108,202,537 |
81,975,090,666 |
|
Cash & Cash Equivalents |
12,776,885,338 |
23,768,777,433 |
18,059,422,655 |
|
Current Financial Instruments |
48,206,962,125 |
38,706,962,125 |
31,045,216,200 |
|
Trade Receivables |
18,071,731,497 |
15,894,957,214 |
15,093,662,941 |
|
Other Receivables |
3,382,309,694 |
4,110,047,814 |
2,046,120,077 |
|
Other Current Assets |
322,082,346 |
94,255,898 |
26,060,617 |
|
Inventories |
18,234,713,495 |
15,533,202,053 |
15,704,608,176 |
|
Non-Current Assets |
88,856,125,856 |
87,477,084,172 |
89,003,485,805 |
|
Non-Current Financial Instruments |
7,852,003,182 |
6,752,373,532 |
6,812,755,664 |
|
Investment_Subsidiaries |
3,543,251,684 |
2,469,291,684 |
2,469,291,684 |
|
Investment_Real Estates |
29,376,072,390 |
29,912,943,030 |
29,956,705,499 |
|
Tangibles |
44,511,225,861 |
44,760,298,200 |
46,272,452,179 |
|
Intangibles |
3,060,192,399 |
3,153,339,055 |
3,122,537,611 |
|
Long-Term Guarantee Deposits |
419,112,842 |
405,727,726 |
349,283,190 |
|
Other Non-Current Assets |
94,267,498 |
23,110,945 |
20,459,978 |
|
Total Liabilities |
27,886,295,880 |
35,104,026,241 |
32,198,242,151 |
|
Current Liabilities |
22,726,531,808 |
29,956,974,389 |
27,029,452,678 |
|
Trade Payables |
5,491,620,957 |
4,741,321,087 |
4,034,037,731 |
|
Other Payables |
6,513,980,466 |
6,309,640,540 |
5,553,770,207 |
|
Short-Term Borrowings |
5,292,328,212 |
10,122,005,300 |
10,051,040,942 |
|
Accrued Income Tax |
1,998,661,777 |
4,544,767,976 |
3,836,884,451 |
|
Provisions for Refund |
961,506,953 |
1,099,541,551 |
968,465,857 |
|
Other Current Liabilities |
2,468,433,443 |
3,139,697,935 |
2,585,253,490 |
|
Non-Current Liabilities |
5,159,764,072 |
5,147,051,852 |
5,168,789,473 |
|
Other Non-Current Liabilities |
2,077,193,859 |
2,304,439,981 |
2,553,434,620 |
|
Provision for Severance &
Retirement |
1,575,749,702 |
1,268,941,593 |
680,701,050 |
|
Deferred Income Tax Credit |
1,340,369,067 |
1,345,291,000 |
1,710,737,797 |
|
Other Non-Current Financial Debts |
166,451,444 |
228,379,278 |
223,916,006 |
|
Capital Stock |
13,575,000,000 |
13,575,000,000 |
13,575,000,000 |
|
Capital Surplus |
7,497,029,610 |
7,497,029,610 |
7,730,348,830 |
|
Others |
-21,423,156,714 |
-21,423,156,714 |
-20,609,351,209 |
|
Installments |
1,196,742,575 |
354,712,841 |
291,790,775 |
|
Profit Surplus |
161,118,899,000 |
150,477,674,731 |
137,792,545,924 |
|
Total Equity |
161,964,514,471 |
150,481,260,468 |
138,780,334,320 |
|
Liab. & Shareholder’s Equity |
189,850,810,351 |
185,585,286,709 |
170,978,576,471 |
|
Income Statement |
|||
|
Unit : Korean Won |
01/01/2012~09/30/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Sales |
92,626,155,822 |
127,481,498,458 |
124,208,804,478 |
|
Cost of Sold Goods |
36,959,570,720 |
49,571,375,278 |
58,979,046,887 |
|
Gross Profit |
55,666,585,102 |
77,910,123,180 |
65,229,757,591 |
|
R&D |
2,456,542,493 |
4,085,277,033 |
4,204,535,875 |
|
Selling & Admin. Expenses |
32,548,790,504 |
44,443,811,987 |
38,606,822,239 |
|
Other Operating Income |
20,661,252,105 |
29,381,034,160 |
22,418,399,477 |
|
Other Operating Expenses |
382,359,732 |
100,258,047 |
1,839,015,133 |
|
Operating Income |
1,271,404,232 |
2,456,036,509 |
1,338,618,904 |
|
Finance Income |
2,304,932,403 |
3,051,745,755 |
2,882,349,340 |
|
Finance Expenses |
669,955,479 |
2,563,431,753 |
506,618,601 |
|
Income Before Taxes |
21,407,184,529 |
27,513,569,700 |
25,294,526,445 |
|
Income Taxes Expenses |
4,882,372,240 |
7,270,172,082 |
6,130,476,469 |
|
Net Income |
16,524,812,289 |
20,243,397,618 |
19,164,049,976 |
|
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 |
9,632,050,853 |
26,057,977,968 |
19,425,592,840 |
|
Net Income |
16,524,812,289 |
20,243,397,618 |
19,164,049,976 |
|
Adjustment |
784,050,663 |
12,565,543,371 |
8,232,745,852 |
|
Income Taxes |
-7,676,812,099 |
-6,750,963,021 |
-7,971,202,988 |
|
Cash Flows from Investing |
-13,803,501,631 |
-13,526,626,252 |
-3,732,131,147 |
|
Cash Flows from Financing |
-6,820,911,265 |
-6,822,200,070 |
-10,437,712,655 |
|
Increase/Decrease in Cash |
-10,991,892,095 |
5,709,354,778 |
5,255,164,124 |
|
Cash at the Beginning of Year |
23,768,777,433 |
18,059,422,655 |
12,804,258,531 |
|
Cash at the End of Year |
12,776,885,338 |
23,768,777,433 |
18,059,422,655 |
|
Main Products & Services |
Anti-Hypertensive Agent, GI Tract Regulator
Antiulcerants, Anti-microbials, Circulatory Agents, Non-steroidal
Anti-inflammatory Drugs, Psychoneural Agent, Anti-spasmodics, Hepatitis Agent |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
|
|
Competitors |
DAEWOONG PHARMA CO., LTD.(134811-0075342) 223-23, SANGDAEWON 1-DONG, JUNGWON-GU, SEONGNAM-SI, GYEONGGI-DO, KOREA TEL:+82-31-741-7700~4
FAX:+82-31-749-5535 ILDONG PHARMACEUTICAL CO., LTD(110111-0012776) 60, YANGJAE 1-DONG, SEOCHO-GU, SEOUL, KOREA TEL:+82-2-526-3114
FAX:+82-2-526-3030 DONGWHA PHARM IND CO., LTD.(110111-0043870) 5, SUNHWA-DONG, JUNG-GU, SEOUL, KOREA TEL:+82-2-2021-9300 FAX:+82-2-776-7873 |
|
Affiliates |
BUZRUN CO., LTD.(110111-1329584) (67.0% held by the subject company) RYUIL INTERNATIONAL,INC(USA) (100.0% held by the subject company) |
|
Overseas Office |
|
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
|
|
Subsidiary |
|
|
Corporate Ownership |
|
|
Major Shareholders |
|
|
Cooperative Enterprise |
|
|
Sales/ Unit :Mil KRW |
09/2012 |
2011 |
2010 |
|
Export |
8,421 |
9,408 |
|
|
Domestic |
84,205 |
118,073 |
|
|
Total |
92,626 |
127,481 |
|
The Subject deals with the companies in
China, India, Japan, Pakistan, Phi8lippines, Vietnam and UAE.
|
Case No. |
Court |
Plaintiff(s)/ Creditor(s)/ Applicant(s) |
Defendant(s)/ Debtor(s)/ Respondent(s) |
Cause |
Amount (KRW) |
Status |
|
2012DA 72476 |
Supreme Court |
NHIC |
The Subject Company |
Claim for Compensation from Damages |
7,732,979,620 |
2nd round is proceeding. |
Not Available
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.57 |
|
|
1 |
Rs.84.25 |
|
Euro |
1 |
Rs.71.78 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.