|
Report Date : |
13.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
HANMI
SCIENCE CO., LTD. |
|
|
|
|
Registered Office : |
377-1,
Yeongcheon-ri, Dongtan-myeon, Hwaseong-si, Gyeonggi-do, Korea (New Address System : 550,
Dongtangiheung-ro, Dongtan-myeon, Hwaseong-si, Gyeonggi-do, Korea) |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
15.06.1973 |
|
|
|
|
Com. Reg. No.: |
124-81-32296 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Medicinal Medicaments |
|
|
|
|
No. of Employees : |
74 |
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 |
HANMI
SCIENCE CO., LTD. (Ex. Company Name : HANMI
HOLDINGS CO., LTD., “한미홀딩스(주)”) (Korean Company Name : “한미사이언스(주)”) |
|
Registered Address |
377-1,
Yeongcheon-ri, Dongtan-myeon, Hwaseong-si, Gyeonggi-do, Korea (New Address System : 550, Dongtangiheung-ro,
Dongtan-myeon, Hwaseong-si, Gyeonggi-do, Korea) |
|
Zip Code |
445-813 |
|
Tel |
+82-31-356-3311 |
|
Fax |
+82-31-356-5151 |
|
E-mail |
|
|
Website |
|
|
Trading Address |
45,
Bangi-dong, Songpa-gu, Seoul, Korea (P.O.BOX 4392) |
|
Tel |
+82-2-410-9114 |
|
Fax |
+82-2-410-9119 |
|
Other Address-Pyeongtaek Factory |
395, Chupal-ri, Paengseong-eup, Pyeongtaek-si,
Gyeonggi-do, Korea |
|
Tel |
+82-31-8053-1000 |
|
Fax |
+82-31-8053-1111 |
|
Other Address-R&D Center |
377-1, Yeongcheon-ri, Dongtan-myeon, Hwaseong-si,
Gyeonggi-do, Korea |
|
Tel |
+82-31-371-5114 |
|
Fax |
+82-31-371-5119 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Medicinal Medicaments |
|
Main Business |
Digestion Reinforcing Agent, Vitamin Compound, Antibiosis Emperor |
|
Established (mm/dd/yyyy) |
06/15/1973 |
The Subject owns
the premises of registered address/factory(22,077.45㎡), R&D Center(12,577㎡) and Seoul
Office(18,928.57㎡).
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Shelf stable juice(50202304) |
|
Sell |
Non narcotic analgesics and antipyretics(51142000) |
|
Sell |
Antifungal drugs(51101800) |
|
Sell |
Antibiotics(51101500) |
|
Sell |
Antiulcer and related gastrointestinal GI drugs(51171900) |
|
Sell |
Estrogens and progestins and internal contraceptives(51181800) |
|
Sell |
Dietary supplements and nutritional therapy products(51191900) |
|
Sell |
Non narcotic analgesics and antipyretics(51142000) |
|
Sell |
Cough and cold and antiallergy products(51161800) |
|
Sell |
Vitamin supplements(51191905) |
|
Sell |
Anaesthetic drugs and related adjuncts and analeptics(51142900) |
|
Sell |
Drugs and Pharmaceutical Products(51000000) |
|
Sell |
Drugs used for respiratory tract disorders(51161700) |
|
Sell |
Mouth fresheners(53131509) |
|
Sell |
Mouthwash(53131501) |
|
Sell |
Infant foods(50193001) |
|
Sell |
Sport or energy drink(50202309) |
|
Buy |
Fermalac |
|
Buy |
Ceftriaxone |
|
Buy |
Streptokinase & Streptodornase |
|
Buy |
Amlodipine Camsylate |
|
Name |
Im Sung-Ki |
|
Date of Birth |
03/01/1940 |
|
Title |
Chairman & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
24,831,697,500 |
|||||||||||||||
|
Employees |
74 |
|||||||||||||||
|
Formation |
Listed Company (Korea Stock Exchange : 008930)
as of 06/1988 And listed (Korea Stock Exchange : 008930)
as of 07/30/2010 again A Company of Hanmi Pharm., Business Group |
|||||||||||||||
|
Bank Details |
Shinhan Bank-Jamsil Branch Citi Bank, Korea Kookmin Bank |
|||||||||||||||
|
Corporate Registered No. |
134811-0003187 |
|||||||||||||||
|
Business Registered No. |
124-81-32296 |
|||||||||||||||
|
Permit & Licenses |
Int’l Trade No.: 986722 |
|||||||||||||||
|
Shareholder Position |
|
|||||||||||||||
|
Company History |
06/15/1973 Incorporated as HANMI PHARM CO., LTD. 07/05/2010 Spin off into the existing Subject
Company(HANMI
HOLDINGS CO., LTD.), and HANMI PHARM CO., LTD.(134811-0197550 :
Newly established company) engaging in manufacturing and sales business
of pharmaceuticals 03/23/2012 Changed company name to the present
name from HANMI
HOLDINGS CO., LTD. |
|||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
Chairman & CEO |
Mr. |
Im Sung-Ki |
Korean |
1940.03.01 |
Chungang University, Korea |
|
President & CEO |
Mr. |
Lim Jong-Yoon |
Korean |
1972.10.27 |
Boston College,USA |
|
Executive Director |
Mr. |
Kim Chan-Sub |
Korean |
1965.10. |
Hanyang University, Korea |
|
Outside Director |
Mr. |
Lee Jong-Koo |
Korean |
1932.07. |
Seoul National University, Korea |
|
Auditor |
M/S. |
Park Myung-Hee |
Korean |
1969.10. |
Ducksung Women’s University, Korea |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
17,976,545,387 |
428,550,063,395 |
2,803,175,843 |
|
|
(*)2011 |
15,074,906,854 |
413,995,597,114 |
-15,135,659,418 |
|
(*)2010 |
10,346,517,486 |
433,234,082,890 |
7,924,703,294 |
|
2009 |
616,102,506,805 |
806,286,563,865 |
50,526,894,320 |
|
2008 |
558,327,276,401 |
759,753,701,913 |
71,034,822,059 |
|
2007 |
501,049,231,544 |
644,867,446,922 |
53,190,541,450 |
|
2006 |
422,183,756,828 |
485,675,268,420 |
72,412,243,759 |
|
2005 |
376,540,824,161 |
380,879,489,931 |
42,147,442,591 |
|
2004 |
317,010,852,421 |
306,406,190,734 |
30,165,465,593 |
(*)Figures are based
on the K-IFRS Accounting System.
Financial
Description
|
Authorized Capital(KRW) |
40,000,000,000 |
|
Paid-Up Capital(KRW) |
24,831,697,500 |
|
Total Issued Shares |
49,663,395 |
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Total
Assets |
428,550,063,395 |
413,995,597,114 |
433,234,082,890 |
|
Current Assets |
17,440,743,763 |
16,627,572,838 |
23,077,273,863 |
|
Cash
& Cash Equivalents |
7,725,869,649 |
7,940,421,827 |
13,328,898,954 |
|
Trade
Receivables & Other Receivables |
5,483,615,444 |
4,804,110,059 |
6,913,365,007 |
|
Deferred
Income Tax Assets |
- |
13,660,050 |
- |
|
Other
Current Assets |
4,231,258,670 |
3,869,380,902 |
2,835,009,902 |
|
Non-Current Assets |
411,109,319,632 |
397,368,024,276 |
410,156,809,027 |
|
Investment_Subsidiaries |
296,217,072,425 |
293,217,072,425 |
289,123,051,292 |
|
Marketable
Financial Instruments |
63,480,628,510 |
52,740,895,360 |
69,387,327,200 |
|
Tangibles |
15,164,082,006 |
12,511,491,465 |
12,753,179,043 |
|
Investment_Real
Estates |
34,516,543,160 |
37,821,790,833 |
38,124,945,885 |
|
Intangibles |
1,730,993,531 |
1,076,774,193 |
768,305,607 |
|
Total Liabilities |
38,234,628,975 |
32,956,396,845 |
20,958,672,949 |
|
Current Liabilities |
17,047,650,436 |
26,856,568,667 |
1,544,438,005 |
|
Trade
Payables & Other Payables |
500,951,852 |
738,186,234 |
320,224,761 |
|
Short-Term
Borrowings |
15,000,000,000 |
10,000,000,000 |
- |
|
Other
Current Financial Debts |
- |
11,479,874,731 |
- |
|
Deferred
Income Tax Credit |
19,306,335 |
- |
97,010,409 |
|
Other
Financial Debts |
1,527,392,249 |
4,638,507,702 |
1,127,202,835 |
|
Non-Current Liabilities |
21,186,978,539 |
6,099,828,178 |
19,414,234,944 |
|
Confirmed
Salaries |
913,613,693 |
466,306,453 |
323,096,102 |
|
Other
Non-Current Financial Debts |
13,286,842,961 |
1,308,855,175 |
11,262,734,497 |
|
Deferred
Income Tax Credit |
6,986,521,885 |
4,324,666,550 |
7,828,404,345 |
|
Capital Stock |
24,831,697,500 |
23,683,220,000 |
22,577,190,000 |
|
Capital
Surplus |
171,663,012,176 |
174,702,640,116 |
-81,134,867,087 |
|
Profit
Surplus |
181,797,155,753 |
179,005,499,419 |
453,811,029,459 |
|
Others |
12,023,568,991 |
3,647,840,734 |
17,022,057,569 |
|
Total
Equity |
390,315,434,420 |
381,039,200,269 |
412,275,409,941 |
|
Liab.
& Shareholder’s Equity |
428,550,063,395 |
413,995,597,114 |
433,234,082,890 |
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Revenues |
17,976,545,387 |
15,074,906,854 |
10,346,517,486 |
|
Expenses |
13,865,310,729 |
12,122,382,443 |
6,582,599,675 |
|
Operating Income |
4,111,234,658 |
2,952,524,411 |
4,318,560,372 |
|
Finance
Income |
262,603,525 |
349,960,746 |
272,951,921 |
|
Finance
Expenses |
1,381,015,123 |
821,410,380 |
682,197,871 |
|
Other
Operating Income |
427,103,333 |
1,125,429,118 |
938,272,447 |
|
Other
Operating Expenses |
253,855,278 |
145,947,761 |
383,629,886 |
|
Income
Before Taxes |
3,166,071,115 |
3,460,556,134 |
3,909,314,422 |
|
Income
Taxes Expenses |
362,895,272 |
18,596,215,552 |
-1,278,340,106 |
|
Income
from Continuous Business |
|
|
5,187,654,528 |
|
Income
from Stopped Business |
|
|
2,737,048,766 |
|
Net
Income |
2,803,175,843 |
-15,135,659,418 |
7,924,703,294 |
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Operating Activities Cash Flows |
-85,126,751 |
-8,118,171,754 |
26,279,692,170 |
|
Net Income |
2,803,175,843 |
-15,135,659,418 |
7,924,703,294 |
|
-Exp. without Cash
Outflow |
3,430,778,919 |
20,535,541,574 |
30,669,863,352 |
|
-Revenue without Cash
Inflows |
-876,571,817 |
-1,073,111,528 |
-9,302,942,539 |
|
-Changes in Asset/
& Liability |
-5,438,143,140 |
5,191,652,432 |
273,895,754 |
|
Dividends Received |
533,250,000 |
533,252,868 |
998,553,191 |
|
Interests Received |
262,603,525 |
349,960,746 |
272,951,921 |
|
Interests Paid |
-769,761,636 |
-181,999,998 |
-7,606,089,783 |
|
Income Taxes |
-30,458,445 |
-18,337,808,430 |
3,048,756,980 |
|
Cash
Flows from Investing |
-3,198,741,069 |
-4,900,645,998 |
-21,655,832,857 |
|
Cash Inflow from
Investing |
1,169,152 |
1,742,610 |
238,931,695 |
|
Cash Outflows for
Investing |
-3,199,910,221 |
-4,902,388,608 |
-21,894,764,552 |
|
Cash
Flows from Financing |
3,108,849,560 |
7,630,340,625 |
-4,597,948,999 |
|
Cash Inflows from
Financing |
10,000,000,000 |
10,006,222,235 |
103,491,294,794 |
|
Cash Outflows from
Financing |
-6,891,150,440 |
-2,375,881,610 |
-108,089,243,793 |
|
Increase/Decrease in Cash |
-175,018,260 |
-5,388,477,127 |
-7,557,452,317 |
|
Cash at the Beginning of Year |
7,940,421,827 |
13,328,898,954 |
20,886,351,271 |
|
Cash at the End of Year |
7,725,869,649 |
7,940,421,827 |
13,328,898,954 |
Products,
Technologies, Services Description
|
Main Products & Services |
Digestion Reinforcing Agent, Vitamin Compound, Antibiosis Emperor |
Trade Partners
& Competitors
|
Competitors |
DONGA PHARMACEUTICAL CO.,
LTD.(110111-0017990) 252, YONGDU-DONG, DONGDAEMUN-GU, SEOUL,
KOREA TEL:+82-2-920-8114 FAX:+82-2-924-2662 YUHAN CORPORATION(110111-0014409) 49-6, DAEBANG-DONG, DONGJAK-GU, SEOUL,
KOREA TEL:+82-2-828-0181 FAX:+82-2-828-0300 GREEN CROSS CORPORATION(110111-0109854) 303, BOJEONG-DONG, GIHEUNG-GU, YONGIN-SI,
GYEONGGI-DO, KOREA TEL:+82-31-260-9300 FAX:+82-31-260-9413 (*)The subject is ranked at the 3rd player
next to YUHAN CORPORATION(110111-0014409). |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
HANMI
PHARM CO., LTD.(134811-0197550) HANMI FINE CHEMICAL CO.,
LTD.(131111-0005106) HANMI PHARM.(CHINA) CO., LTD. HANMI MEDICARE CO., LTD.(110111-2098295) ERMURUS CO., LTD.(110111-1135501) RIGHTCOM CO., LTD. LIMS CAPITAL CO., LTD.(110111-3681304) HANMI IT CO., LTD.(110111-3206897) |
|
Subsidiary |
HANMI FINE CHEMICAL CO., LTD.(131111-0005106) (63.00% held by the subject company) HANMI PHARM.(CHINA) CO., LTD. (70.00% held by the subject company) HANMI MEDICARE CO., LTD.(110111-2098295) (57.69% held by the subject company) ERMURUS CO., LTD.(110111-1135501) (95.24% held by the subject company) HANMI PHARM.(JAPAN) CO., LTD. (100.00% held by the subject company) ASPA NIHONBASHI OFFICE, NIHONBASHI-HONGOKU-CHO 2-1-1, OHUO-KU, TOKYO,
JAPAN HANMI EUROPE LTD. (100.00% held by the subject company) ONE FLEET PLACE, LONDON EC4M 7WS, UK |
|
Cooperative Enterprise |
-Insured Company LIG INSURANCE CO., LTD.(110111-0017859) DONGBU INSURANCE CO., LTD.(110111-0095285) |
Sales by Region (Activity & Markets)
The Subject exports
to Vietnam, Thailand, Cambodia, Malaysia, Singapore, Indonesia, Philippines,
Bangladesh and India.
No.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.33 |
|
|
1 |
Rs.80.89 |
|
Euro |
1 |
Rs.70.73 |
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.