|
Report Date : |
10.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
ILDONG PHARMACEUTICAL CO., LTD. |
|
|
|
|
Registered Office : |
60, Yangjae 1-dong, Seocho-gu, Seoul, Korea |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
14.03.1941 |
|
|
|
|
Com. Reg. No.: |
229-81-14690 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Finished Medicaments |
|
|
|
|
No. of Employees : |
1,341 |
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 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 |
ILDONG PHARMACEUTICAL CO., LTD. |
|
Registered Address |
60, Yangjae 1-dong, Seocho-gu, Seoul, Korea |
|
Zip Code |
137-889 |
|
Tel |
+82-2-526-3114 |
|
Fax |
+82-2-526-3030 |
|
E-mail |
webmater@@ildong.com;bhlee@ildong.com;taeho0730@ildong.com |
|
Website |
www.ildong.com |
|
Trading Address |
60, Yangjae 1-dong, Seocho-gu, Seoul, Korea |
|
Tel |
+82-2-526-3114 |
|
Fax |
+82-2-526-3030 |
|
Other Address-Anseong Factory |
60-1, Singeonji-dong, Anseong-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-673-1701 |
|
Fax |
+82-31-673-4860 |
|
Other Address-Cheongju Factory |
70-38, Songjeong-dong, Heungdeok-gu, Cheongju-si, Chungcheongbuk-do,
Korea |
|
Tel |
+82-43-267-7631 |
|
Fax |
+82-43-263-1420 |
|
Other Address-Dongtan Lab |
#23-9, Soekwoo-dong, Hwasung-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-371-2800 |
|
Fax |
+82-31-371-2900 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Finished Medicaments |
|
Main Business |
Ulcer of The Stomach Cure, Vitamins, Antibiotics |
|
Established (mm/dd/yyyy) |
03/14/1941 |
The Subject owns the premises of registered
HQ address, Anseong Factory, Cheongju Factory and Dongtan Lab.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Antifungal drugs(51101800) |
|
Sell |
Non narcotic analgesics and antipyretics(51142000) |
|
Sell |
Dietary supplements and nutritional therapy products(51191900) |
|
Sell |
Hand or body lotions(53131607) |
|
Sell |
Mouthwash(53131501) |
|
Sell |
Formulas and products for nutritional support(42231800) |
|
Sell |
Antiulcer and related gastrointestinal GI drugs(51171900) |
|
Sell |
Cardiovascular drugs(51120000) |
|
Sell |
Antineoplastic agents(51110000) |
|
Sell |
Formulas and products for nutritional support(42231800) |
|
Buy |
Amino acid supplements(51191902) |
|
Buy |
Caps or tops(24122004) |
|
Buy |
Plastic bottles(24122002) |
|
Buy |
Dosing spoons(41123402) |
|
Buy |
Organic derivatives and substituted compounds(12352100) |
|
Buy |
Identification tags(55121503) |
|
Buy |
Alcohols or its substitutes(12352104) |
|
Buy |
Packaging pouches or bags(24121502) |
|
Buy |
Packaging boxes(24121503) |
|
Buy |
Antibiotics(51101500) |
|
Buy |
Antihypertensive drugs(51121700) |
|
Buy |
Inorganic metal salts(12352302) |
|
Name |
Lee Kum-Ki |
|
Date of Birth |
12/13/1933 |
|
Title |
Chairman & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
25,068,065,000 |
|||||||||||||||||||||||||||||||||
|
Employees |
1,341 |
|||||||||||||||||||||||||||||||||
|
Formation |
Listed Company (Korea Stock Exchange : 000230) as of 06/23/1975 A Company of ILDONG PHARMACEUTICAL |
|||||||||||||||||||||||||||||||||
|
Bank Details |
Hana Bank Korea Development Bank Woori Bank |
|||||||||||||||||||||||||||||||||
|
Corporate Registered No. |
110111-0012776 |
|||||||||||||||||||||||||||||||||
|
Business Registered No. |
229-81-14690 |
|||||||||||||||||||||||||||||||||
|
Permit & Licenses |
Int’l Trade No.: 814124 |
|||||||||||||||||||||||||||||||||
|
Shareholder Position |
|
|||||||||||||||||||||||||||||||||
|
Company History |
01/2009 Patents for Peptide defrmylase
(PDF) inhibito compund and its producing method registered. 09/2008 Patent for manufacturing method of Calcitriol
by utiliziing strain ID 9302 registered. 06/2008 Ildong Foodis Co., LTD. set up a
high-tech facility, and R&D center in Choon-chun city 06/2008 Central R&D center moved to a
newly built-up facillity in Dong-tan city 01/2008 Established the Joint Venture
Partnerships company, NxGen Pharmaceuticals Pty. Ltd. in Australia 01/2007 Established a leading distribution
company, ILDONG Household & Health Care Co., Ltd. 03/2006 Developed Lecarpine, a hypertension
treatment 12/2005 Launched Flomox, an oral cephalosporine
antibiotic 09/2005 Launched NatraCare, a natural
sanitary pads 04/2003 Began water electrolytic reducer
business through strategic partnering with OSG 12/2002 Strategic partnering with Pan Genomix,
a venture company for natural drug products Launched Fastic, a fast acting
postprandial hypoglycemic agent 12/2002 Announced a New Company Strategy 03/2002 Exclusive distribution agreement
with Shionogi of Japan for Flomoxef, the 4th generation of oral Cephalosporin
antibiotics. 02/2002 Cheongju plant BGMP approved. 01/2002 Braille description on Aronamin
Gold package first in Korea 08/2001 Exclusive distribution agreement
with Biopol, a venture bio-tech company, for Medifoam, a moist foam dressing
for wound treatment. 05/2001 60th anniversary of the company
foundation. 01/2001 Export contract for Lactobacillus
preparations with Snowden Co. of Japan. 09/2000 First development of “EPO producing
strains”, by genetic engineering and
patented in Korea. 07/2000 A new cephalosporin antibiotic,
code: IDC7181 developed and patent registered in the United States. 03/2000 Il Dong Diet business project
launched. |
|||||||||||||||||||||||||||||||||
|
Company History |
04/1997 Completion of Yongin Central
Research Laboratory. 02/1997 Sensetime, a new conceptional mouth
wash product, introduced. 02/1997 Exclusive Licence agreement with
Ajinomoto Co. of Japan for a new diabetic therapeutic agent. 07/1996 Namyang Ind. Co., a food company,
was acquired and renamed as Il Dong Foodis Co. Ltd. 06/1992 Levofloxacin, a Quinolone
antimicrobial agent was produced first in Korea. 06/1992 Pharmaceutical Manufacturers
Association. 12/1988 Headquarter moved to the
head-office building newly constructed at #60 Yangjae-dong, Seocho-Ku Seoul
Korea. 10/1987 Ahnsung plant was KGMP approved. 09/1987 Ahnsung GMP plant construction
completed 05/1986 3 year protection for an exclusive
production of Ranitidine(anti-peptic ulcer agent)granted with bulk 10/1982 Curan, an anti-peptic ulcer drug,
(Ranitidine) produced. 06/1982 Shiomarin, an oxacephem antibiotic,
produced. 12/1981 Il Dong Central Research Laboratory
established 01/1980 Business tie-up with Shionogi of
Japan. 12/1976 Adriamycin, an antineoplastic
agent. 03/1976 Business tie-up with Carlo-Elba 05/1974 Fine chemical plant constructed in
Chungjoo. 12/1973 Exclusive distribution agreement
with American Whitehall Co. 08/1973 Maxon Electronic Inc., a sister
company, founded. 08/1973 Company reshaped to a major ethical
drug producer by introducing many therapeutical drugs including Amphojel M,
Ativan,Ovral 0.25 and Oxaine M, 09/1971 Amphojel M, an anti-peptic ulcer
drug, 04/1970 Technical licence agreement with
Wyeth-Ayerst Int. Inc. of US 07/1963 Aronamin Gold, an active form of
vitamin B complex, produced. 08/1959 Aronamin, an active and long-acting
vitamin, produced. 08/1959 Biovita, a lactobacillus nutrient
preparation, released to the market first time in Korea. |
Management
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
Chairman |
Mr. |
Yoon Won-Young |
Korean |
1938.12.17 |
Chungang University, Korea |
|
Chairman & CEO/Management |
Mr. |
Lee Jung-Chi |
Korean |
1942.08.15 |
Korea University, Korea |
|
President & CEO |
Mr. |
Jung Yeon-Jin |
Korean |
1948.08.20 |
Seoul National University, Korea |
|
Vice President & CEO |
Mr. |
Yoon Woong-Seob |
Korean |
1967.07.07 |
Yonsei University, Korea |
|
Outside Director |
Mr. |
Kim Ki-Young |
Korean |
1969.07.05 |
Seoul National University, Korea |
|
Outside Director |
Mr. |
Choi Young-Kil |
Korean |
1934.09.11 |
Seoul National University, Korea |
|
Auditor |
Mr. |
Lee Jong-Sik |
Korean |
1941.11.15 |
Korea University, Korea |
|
Auditor |
Mr. |
Shin Myung-Soo |
Korean |
1967.09.25 |
Korea University, Korea |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
346,029,750,765 |
522,808,624,225 |
18,058,073,424 |
|
|
2011 |
338,460,671,376 |
488,661,360,549 |
24,813,188,588 |
|
2010 |
252,081,043,827 |
482,186,482,195 |
25,271,328,551 |
|
Authorized Capital(KRW) |
50,000,000,000 |
|
Paid-Up Capital(KRW) |
25,068,065,000 |
|
Total Issues Shares |
25,068,065 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 03/31/2012 |
As of 03/31/2011 |
As of 03/31/2010 |
|
Total Assets |
522,808,624,225 |
488,661,360,549 |
482,186,482,195 |
|
Current Assets |
210,338,198,651 |
211,584,573,766 |
224,333,289,344 |
|
Cash & Cash Equivalents |
14,433,006,203 |
25,526,189,039 |
28,553,229,572 |
|
Trade Receivables & Other
Receivables |
139,038,973,635 |
137,781,261,938 |
154,610,333,510 |
|
Other Financial Assets |
2,050,057,000 |
1,338,402,000 |
1,338,402,000 |
|
Inventories |
53,719,273,949 |
45,312,840,857 |
38,126,541,863 |
|
Other Current Assets |
1,096,887,864 |
1,625,879,932 |
1,704,782,399 |
|
Non-Current Assets |
312,470,425,574 |
277,076,786,783 |
257,853,192,851 |
|
Long-Term Trade Receivables &
Other Receivables |
5,997,054,421 |
6,120,010,777 |
2,966,328,233 |
|
Non-Current Financial Instruments |
9,232,784,500 |
9,988,562,700 |
8,960,163,340 |
|
Tangibles |
264,580,423,451 |
233,499,952,016 |
225,086,003,695 |
|
Intangibles |
18,497,511,149 |
13,305,609,237 |
6,196,327,783 |
|
Investment_Related Companies |
14,162,652,053 |
14,162,652,053 |
14,644,369,800 |
|
Total Liabilities |
203,939,948,389 |
184,444,819,381 |
195,098,472,362 |
|
Current Liabilities |
127,133,868,656 |
114,751,089,585 |
123,465,224,109 |
|
Trade Payables & Other
Payables |
49,701,135,128 |
37,866,884,471 |
37,754,563,571 |
|
Other Current Financial Debts |
68,099,395,820 |
66,130,075,000 |
73,695,584,732 |
|
Accrued Income Tax |
1,190,311,317 |
850,121,770 |
2,837,682,958 |
|
Other Current Liabilities |
8,143,026,391 |
9,904,008,344 |
9,177,392,848 |
|
Non-Current Liabilities |
76,806,079,733 |
69,693,729,796 |
71,633,248,253 |
|
Other Non-Current Financial Debts |
20,800,000,000 |
13,045,000,000 |
24,072,000,000 |
|
Provisions |
8,454,996,574 |
7,758,888,307 |
7,358,938,560 |
|
Provision for Severance &
Retirement |
32,755,668,201 |
31,832,872,818 |
24,286,681,565 |
|
Deferred Income Tax Credit |
14,795,414,958 |
17,056,968,671 |
15,915,628,128 |
|
Capital Stock |
25,068,065,000 |
25,068,065,000 |
25,068,065,000 |
|
Capital Surplus |
3,601,481,662 |
3,601,481,662 |
3,601,481,662 |
|
Others |
42,574,309,833 |
41,463,357,645 |
41,572,150,372 |
|
Profit Surplus |
247,624,819,341 |
234,083,636,861 |
216,846,312,799 |
|
Total Equity |
318,868,675,836 |
304,216,541,168 |
287,088,009,833 |
|
Liab. & Shareholder’s Equity |
522,808,624,225 |
488,661,360,549 |
482,186,482,195 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 03/31/2012 |
As of 03/31/2011 |
As of 03/31/2010 |
|
Sales |
346,029,750,765 |
338,460,671,376 |
252,081,043,827 |
|
Cost of Sold Goods |
159,895,734,920 |
141,233,977,196 |
97,486,623,384 |
|
Gross Profit |
186,134,015,845 |
197,226,694,180 |
154,594,420,443 |
|
Selling & Admin. Expenses |
151,163,206,817 |
142,452,277,991 |
110,697,704,148 |
|
R&D |
22,077,733,211 |
17,470,706,607 |
8,234,578,182 |
|
Operating Income |
12,893,075,817 |
37,303,709,582 |
35,662,138,113 |
|
Non-Operating Income |
6,819,505,291 |
1,785,444,808 |
2,533,126,781 |
|
Non-Operating Expenses |
1,067,008,781 |
3,536,827,386 |
477,419,935 |
|
Finance Income |
3,188,482,932 |
623,673,948 |
190,422,649 |
|
Finance Expenses |
4,821,723,540 |
4,955,825,347 |
4,090,678,195 |
|
Income Before Taxes |
17,012,331,719 |
31,220,175,605 |
33,817,589,413 |
|
Income Taxes Expenses |
-1,045,741,705 |
6,406,987,017 |
8,546,260,862 |
|
Net Income |
18,058,073,424 |
24,813,188,588 |
25,271,328,551 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 03/31/2012 |
As of 03/31/2011 |
As of 03/31/2010 |
|
Operating Activities Cash Flows |
23,334,230,692 |
50,896,563,633 |
50,649,451,032 |
|
Cash Flows from Operating |
26,851,085,986 |
61,283,119,123 |
59,519,006,333 |
|
Net Income |
18,058,073,424 |
24,813,188,588 |
25,271,328,551 |
|
Adjustment |
17,857,211,700 |
30,752,182,549 |
22,984,989,028 |
|
Changes in Asset/ & Liability |
-9,064,199,138 |
5,717,747,986 |
11,262,688,754 |
|
Interests Received |
101,059,800 |
11,918,618 |
91,793,626 |
|
Interests Paid |
-5,116,945,026 |
-4,724,833,084 |
-3,484,515,284 |
|
Dividends Received |
2,667,849,650 |
160,200,125 |
|
|
Income Taxes |
-1,168,819,718 |
-5,833,841,149 |
-5,476,833,643 |
|
Cash Flows from Investing |
-39,764,294,987 |
-31,947,812,160 |
-16,036,733,643 |
|
Cash Flows from Financing |
5,374,431,800 |
-21,970,818,332 |
-25,001,497,028 |
|
Increase/Decrease in Cash |
-11,055,632,495 |
-3,022,066,859 |
9,611,220,361 |
|
Cash at the Beginning of Year |
25,526,189,039 |
28,553,229,572 |
18,902,932,901 |
|
Cash at the End of Year |
14,433,006,203 |
25,526,189,039 |
28,553,229,572 |
|
Main Products & Services |
Ulcer of The Stomach Cure, Vitamins, Antibiotics |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
SHIONOGI(JAPAN) PFIZER(ITALY) AJINOMOTO(JAPAN) RAMBAXI(INDIA) BASF(GERMANY) |
|
Customers |
|
|
Competitors |
DONGA PHARMACEUTICAL
CO.,LTD.(110111-0017990) YUHAN CORPORATION(110111-0014409) CHONGKUNDANG CO.,LTD.(110111-0028955) DAEWOONG PHARMA CO.,LTD.(134811-0075342) |
|
Affiliates |
ILDONG FOOD'S CO., LTD.(134511-0001567) (33.33% held by the subject company) UNI COMMUNICATIONS INC(110111-0902216) (100.0% held by the subject company) ILDONG LIVING HEALTH CO., LTD.(110111-3588295) (100.0% held by the subject company) |
|
Subsidiary |
UNI COMMUNICATIONS INC(110111-0902216) (100.0% held by the subject company) ILDONG LIVING HEALTH CO., LTD.(110111-3588295) (100.0% held by the subject company) |
|
Cooperative Enterprise |
-Technical Support to ZUNAN COMMERCE & INDUSTRIAL CO., LTD. CHINA PHARMACEUTICAL GROUP CO., LTD. (NBP) -Insured Company HYUNDAI MARINE & FIRE INSURANCE CO., LTD.(110111-0035893) SAMSUNG FIRE & MARINE INSURANCE CO.,LTD.(110111-0005078) DONGBU INSURANCE CO., LTD.(110111-0095285) |
|
Sales/ Unit :Mil KRW |
2012 |
2011 |
2010 |
|
Export |
10,548 |
6,578 |
4,648 |
|
Domestic |
335,482 |
331,883 |
247,433 |
|
Total |
346,030 |
338,461 |
252,081 |
The Subject exports to South-East Asia
including Vietnam and Japan. It imports from Japan, Italy, India and Germany.
Not Available
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.24 |
|
|
1 |
Rs.84.29 |
|
Euro |
1 |
Rs.71.36 |
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.