|
Report Date : |
29.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
HWAIL PHARM. CO., LTD. |
|
|
|
|
Registered Office : |
904-7, Sangsin-ri, Hyangnam-eup, Hwaseong-si, Gyeonggi-do, Korea 445-937 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
30.09.2012 |
|
|
|
|
Date of Incorporation : |
18.11.1980 |
|
|
|
|
Com. Reg. No.: |
124-81-27624 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Medicinal Chemicals and Antibiotics |
|
|
|
|
No. of Employees : |
98 |
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 (31.03.2011) |
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 |
HWAIL PHARM.
CO., LTD. (English Name : HWAIL
PHARMACEUTICAL CO., LTD.) (Korean Company
Name : “화일약품(주)”) |
|
Registered Address |
904-7, Sangsin-ri, Hyangnam-eup,
Hwaseong-si, Gyeonggi-do, Korea |
|
Zip Code |
445-937 |
|
Tel |
+82-31-353-4101 |
|
Fax |
+82-31-353-9219 |
|
E-mail |
hwail@hwail.co.kr; james@hwail.com |
|
Website |
www.hwail.com |
|
Trading Address |
5FL., C-Korea Bio Park, 694-1, Sampyeong-dong, Bundang-gu, Seongnam-si, Gyeonggi-do, Korea |
|
Tel |
+82-2-512-2592 |
|
Fax |
+82-2-511-6954 |
|
Other Address |
454-3, Mongnae-dong, Danwon-gu, Ansan-si,
Gyeonggi-do, Korea |
|
Tel |
+82-31-491-4042 |
|
Fax |
+82-31-491-4045 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Medicinal Chemicals and Antibiotics |
|
Main Business |
Pharmaceutical Raw Materials, Analgesics, Food Additives |
|
Established (mm/dd/yyyy) |
11/18/1980 |
The Subject owns
the premises of registered HQ address.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Formulas and products for nutritional
support(42231800) |
|
Sell |
Herbal drugs(51212000) |
|
Sell |
Shelf stable vegetables(50101540) |
|
Sell |
Cereal flour(50221102) |
|
Sell |
Mushrooms or fungi(50101541) |
|
Name |
Lee Jung-Kyu |
|
Date of Birth |
09/17/1947 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
5,870,846,000 |
||||||||||||||||||
|
Employees |
98 |
||||||||||||||||||
|
Formation |
Listed Company (KOSDAQ:061250) as of 04/17/2002 |
||||||||||||||||||
|
Bank Details |
Citibank, Korea-Yeoksam Station Branch Korea Exchange Bank-Dogokro Branch Hana Bank-Jeki Dong Branch Industrial Bank of Korea-Seocho Nam Branch Shinhan Bank |
||||||||||||||||||
|
Corporate Registered No. |
134411-0000719 |
||||||||||||||||||
|
Business Registered No. |
124-81-27624 |
||||||||||||||||||
|
Permit & Licenses |
Int’l Trade No.: 542269 |
||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||
|
Company History |
05/1974 Established as JEIL PHARM. CO. 11/18/1980 Incorporated as the present name 06/2001 Designated as a Promising SME by
Gyeonggi Province, Korea 10/2001 Completed BGMP Facilties 04/17/2002 Listed at KOSDAQ Market 08/2008 Acquired Eco P&F Co., Ltd.(110111-3951848) |
||||||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
President & CEO |
Mr. |
Lee Jung-Kyu |
Korean |
1947. 09. 17 |
Myungji University, Korea |
|
Vice President & CEO |
Mr. |
Park Phil-Joon |
Korean |
1960. 09. 22 |
- |
|
Auditor |
Mr. |
Jung Soon-Hee |
Korean |
1950. 03. 04 |
- |
|
Sr. Executive Director |
Mr. |
Jung Young-Cheol |
Korean |
1956. 02. 01 |
Gyungbuk National University, Korea |
|
Outside Director |
Mr. |
Park Young-Hwan |
Korean |
1949. 08. 15 |
Myungji University, Korea |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
68,265,644,983 |
110,004,116,477 |
3,586,916,261 |
|
|
(*)2011 |
78,097,350,738 |
98,791,213,472 |
4,676,324,958 |
|
(*)2010 |
76,067,646,494 |
107,660,060,440 |
4,274,517,444 |
|
2009 |
72,112,584,287 |
85,321,200,059 |
4,289,385,137 |
|
2008 |
61,371,591,549 |
71,890,758,102 |
5,148,234,554 |
|
2007 |
60,287,772,247 |
57,760,360,949 |
4,929,631,959 |
|
2006 |
54,900,919,914 |
56,401,487,368 |
4,509,130,859 |
|
2005 |
52,921,707,173 |
46,115,581,223 |
4,733,147,756 |
|
2004 |
49,767,669,954 |
40,824,313,435 |
4,008,977,573 |
(*)Figures are based
on the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
50,000,000,000 |
|
Paid-Up Capital(KRW) |
5,870,846,000 |
|
Total Issues Shares |
11,741,692 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
01/01/2012~09/30/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Total Assets |
110,004,116,477 |
98,791,213,472 |
107,660,060,440 |
|
Current Assets |
74,094,762,653 |
67,156,884,478 |
79,055,578,214 |
|
Cash & Cash Equivalents |
4,122,544,458 |
3,036,556,738 |
3,371,898,961 |
|
Current Financial Instruments |
590,279,252 |
3,453,392,535 |
5,003,507,254 |
|
Trade Receivables |
41,212,478,340 |
33,190,249,342 |
34,314,359,697 |
|
Other Current Receivables |
5,276,718,545 |
4,694,650,350 |
1,151,520,674 |
|
Inventories |
22,459,196,043 |
22,288,523,875 |
25,735,151,134 |
|
Non-Current Assets to be Sold |
0 |
0 |
7,686,144,576 |
|
Current Non-Financial Instruments |
433,546,015 |
493,511,638 |
1,792,995,918 |
|
Non-Current Assets |
35,909,353,824 |
31,634,328,994 |
28,604,482,226 |
|
Non-Current Financial Instruments |
1,948,271,472 |
1,473,343,833 |
3,081,824,793 |
|
Long-Term Trade Receivables |
0 |
11,079,471 |
48,143,200 |
|
Other Non-Current Receivables |
679,012,771 |
669,101,752 |
22,208,000 |
|
Investment_Subsidiaries |
1,000,000,000 |
1,000,000,000 |
1,000,000,000 |
|
Tangibles |
27,530,400,149 |
23,671,699,642 |
23,662,894,728 |
|
Investment_Real Estates |
4,058,613,944 |
4,100,165,623 |
0 |
|
Intangibles |
693,055,488 |
708,938,673 |
789,411,505 |
|
Total Liabilities |
36,249,492,613 |
29,302,009,657 |
40,829,339,495 |
|
Current Liabilities |
27,740,995,539 |
20,507,545,786 |
33,751,180,803 |
|
Trade Payables |
5,227,711,785 |
3,947,582,916 |
6,143,418,558 |
|
Other Current Payables |
1,255,515,522 |
1,342,779,134 |
678,432,423 |
|
Short-Term Borrowings |
19,658,424,694 |
11,525,984,854 |
10,434,362,690 |
|
Current Portion of Long-Term
Debts |
666,700,000 |
1,000,000,000 |
1,140,077,008 |
|
Current Portion of Bond With
Warrant |
0 |
0 |
9,338,859,603 |
|
Accrued Income Tax |
721,999,998 |
2,455,594,400 |
881,743,029 |
|
Other Current Finance Liabilities |
0 |
0 |
0 |
|
Non-Current Assets to be Sold |
0 |
0 |
607,000,000 |
|
Other Current Non-Finance
Liabilities |
210,643,540 |
235,604,482 |
4,527,287,492 |
|
Non-Current Liabilities |
8,508,497,074 |
8,794,463,871 |
7,078,158,692 |
|
Other Non-Current Payables |
1,855,163,492 |
1,792,887,815 |
0 |
|
Long-Term Borrowings |
4,934,132,251 |
5,350,832,251 |
3,980,539,064 |
|
Provision for Severance & Retirement |
0 |
0 |
0 |
|
Deferred Income Tax Credit |
1,719,201,331 |
1,650,743,805 |
3,097,619,628 |
|
Capital Stock |
5,870,846,000 |
5,603,003,500 |
5,587,834,000 |
|
Capital Surplus |
12,067,048,044 |
10,497,640,637 |
10,404,739,038 |
|
Profit Surplus |
59,552,379,656 |
56,997,258,395 |
53,378,222,337 |
|
Others |
-3,735,649,836 |
-3,608,698,717 |
-2,540,074,430 |
|
Total Equity |
73,754,623,864 |
69,489,203,815 |
66,830,720,945 |
|
Liab. & Shareholder’s Equity |
110,004,116,477 |
98,791,213,472 |
107,660,060,440 |
Income
Statement
|
|||
|
Unit : Korean Won |
01/01/2012~09/30/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Sales |
68,265,644,983 |
78,097,350,738 |
76,067,646,494 |
|
Cost of Sold Goods |
56,601,586,072 |
63,929,252,713 |
62,443,752,233 |
|
Gross Profit |
11,664,058,911 |
14,168,098,025 |
13,623,894,261 |
|
Selling & Admin. Expenses |
5,979,389,552 |
7,457,630,296 |
7,647,833,375 |
|
Other Operating Income |
180,917,810 |
1,490,975,535 |
716,912,554 |
|
Other Operating Expenses |
359,301,248 |
700,657,418 |
304,429,500 |
|
Operating Income |
5,506,285,921 |
7,500,785,846 |
6,388,543,940 |
|
Finance Income |
350,683,144 |
449,702,895 |
312,276,027 |
|
Finance Expenses |
691,310,799 |
1,628,519,102 |
1,199,947,004 |
|
Income Before Taxes |
5,165,658,266 |
6,321,969,639 |
5,500,872,963 |
|
Income Taxes Expenses |
1,578,742,005 |
1,645,644,681 |
1,226,355,519 |
|
Net Income |
3,586,916,261 |
4,676,324,958 |
4,274,517,444 |
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 |
-3,606,895,251 |
7,848,263,321 |
1,147,719,155 |
|
Net Income |
3,586,916,261 |
4,676,324,958 |
4,274,517,444 |
|
Adjustment |
-3,635,167,733 |
5,316,014,554 |
-1,532,253,575 |
|
Interests Received |
346,377,606 |
345,110,413 |
223,360,588 |
|
Interests Paid |
-658,426,908 |
-979,506,703 |
-655,383,537 |
|
Dividends Received |
191,183 |
2,235,329 |
1,693,645 |
|
Income Taxes |
-3,246,785,660 |
-1,511,915,230 |
-1,164,215,410 |
|
Cash Flows from Investing |
-3,370,100,684 |
1,476,841,048 |
-4,210,585,802 |
|
Cash Flows from Financing |
8,050,637,768 |
-9,672,058,078 |
3,860,757,046 |
|
Increase/Decrease in Cash |
3,036,556,738 |
3,371,898,961 |
2,625,602,993 |
|
Cash at the Beginning of Year |
12,345,887 |
11,611,486 |
-51,594,431 |
|
Cash at the End of Year |
4,122,544,458 |
3,036,556,738 |
3,371,898,961 |
|
Main Products & Services |
Pharmaceutical Raw Materials, Analgesics, Food Additives -Acemetacin -Oxatomide -Phloro Glucin -Talniflumate -Triflusal -Gallamine
Triethyl Iodide -Alibendol
Erdostein -Others Automobile Brand Name : LVSP, TNFL, ACCL, TRPR, LTBF |
||||||||||||||||||||
|
Annual Production Capacity (Unit: Kg) |
|
|
Suppliers |
WAFRAPHARMA LABORATORIES LTD. HYUNDAI MOTOR COMPANY(110111-0085450) |
|
Customers |
Major Pharmaceutical Manufacturing
Companies SEPEHR DIESEL KAVEH AUTOMOTIVE |
|
Competitors |
DAEBONGLSCO.,LTD(124311-0016976) 122B-9L, NAMDONG INDUSTRIAL COMPLEX, 692-8,
GOJAN-DONG, NAMDONG-GU, INCHEON, KOREA TEL:+82-32-817-8800~7 FAX:+82-32-817-8808 ESTECHPHARMA CO., LTD(135111-0047782) 34-10B, BARAN LOCAL INDUSTRIAL COMPLEX,
1407-9, HAGIL-RI, HYANGNAM-EUP, HWASEONG-SI, GYEONGGI-DO, KOREA TEL:+82-31-831-4800 FAX:+82-31-831-4801 HANMIFINECHEMICAL CO.,LTD.(131111-0005106) 1248-8, JEONGWANG 2-DONG, SIHEUNG-SI,
GYEONGGI-DO, KOREA TEL:+82-31-499-2541 FAX:+82-31-499-2540 DAEWOONG BIO INC.(131112-0004827) 906-5, SANGSIN-RI, HYANGNAM-EUP,
HWASEONG-SI, GYEONGGI-DO, KOREA TEL:+82-31-353-5271~3 FAX:+82-31-353-5626 |
(Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
ECO P&F CO., LTD.(110111-3951848) (19.74% held by the subject company) 776-12, YEOKSAM-DONG, GANGNAM-GU, SEOUL, KOREA |
|
Subsidiary |
HWAIL INTERNATIONAL CO., LTD.(110111-4313162) (100.0% held by the subject company) |
|
Cooperative Enterprise |
-Insured Company GREEN NON-LIFE INSURANCE CO., LTD(110111-0007082) |
(Activity &
Markets)
The Subject exports
to China and India, and it imports from USA, Japan and Europe.
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.89 |
|
|
1 |
Rs.84.92 |
|
Euro |
1 |
Rs.72.51 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.