|
Report Date : |
01.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
DONG WHA PHARM CO., LTD. |
|
|
|
|
Registered Office : |
5, Sunhwa-dong, Jung-gu, Seoul, Korea 100-130 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
30.06.2013 |
|
|
|
|
Date of Incorporation : |
25.09.1897 |
|
|
|
|
Com. Reg. No.: |
110-81-00102 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Finished Medicaments |
|
|
|
|
No. of Employees : |
766 |
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 is currently the world's 12th largest economy. 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. Korea''s export focused economy was hit hard by the 2008 global
economic downturn, but quickly rebounded in subsequent years, reaching 6.3%
growth in 2010. The US-South Korea Free Trade Agreement was ratified by both
governments in 2011 and went into effect in March 2012. Throughout 2012 the
economy experienced sluggish growth because of market slowdowns in the United
States, China, and the Eurozone. The incoming administration in 2013, following
the December 2012 presidential election, is likely to face the challenges of
balancing heavy reliance on exports with developing domestic-oriented sectors,
such as services. 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 |
Basic
|
Company Name |
DONG WHA PHARM CO., LTD. |
|
Registered Address |
5, Sunhwa-dong, Jung-gu, Seoul, Korea |
|
Zip Code |
100-130 |
|
Tel |
+82-2-2021-9300 |
|
Fax |
+82-2-757-4677 |
|
E-mail |
dongwha@dong-wha.co.kr |
|
Website |
www.dong-wha.co.kr |
|
Trading Address |
5, Sunhwa-dong, Jung-gu, Seoul, Korea (New Address System : 14, Seosomun-ro 9-gil, Jung-gu, Seoul, Korea) |
|
Tel |
+82-2-2021-9300 |
|
Fax |
+82-2-757-4677 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Finished Medicaments |
|
Main Business |
Stomachic Digestives, Antibiotics, Pharmaceutical Raw Materials,
Cosmetics |
|
Established (mm/dd/yyyy) |
09/25/1897 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Cough and cold and antiallergy products(51161800) |
|
Sell |
Vitamin supplements(51191905) |
|
Sell |
Dietary supplements and nutritional therapy products(51191900) |
|
Sell |
Antibiotics(51101500) |
|
Sell |
Hematolic drugs(51130000) |
|
Sell |
Non narcotic analgesics and antipyretics(51142000) |
|
Sell |
Drugs and Pharmaceutical Products(51000000) |
|
Buy |
Acetaminophen(51142001) |
|
Buy |
Biochemicals(12352200) |
|
Buy |
Herbal drugs(51212000) |
|
Buy |
Spices or extracts(50171550) |
|
Buy |
Organic derivatives and substituted compounds(12352100) |
|
Buy |
Amoxycillin(51101511) |
|
Name |
Yoon Doh-Joon |
|
Address |
|
|
Date of Birth |
02/02/1952 |
|
Title |
Chairman & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
27,931,470,000 |
||||||||||||||||||||||||
|
Employees |
766 |
||||||||||||||||||||||||
|
Formation |
Listed Company (Korea Stock Exchange : 000020) as of 03/24/1976 |
||||||||||||||||||||||||
|
Bank Details |
Hana Bank |
||||||||||||||||||||||||
|
Corporate Registered No. |
110111-0043870 |
||||||||||||||||||||||||
|
Business Registered No. |
110-81-00102 |
||||||||||||||||||||||||
|
Permit & Licenses |
Int’l Trade No.: 790932 |
||||||||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||||||||
|
Company History |
09/25/1897 Established as DONG WHA YAK BANG 09/25/1931 Incorporated as DONG WHA YAK
BANG CO., LTD. 02/12/1962 Changed company name to DONG WHA
PHARM IND. CO., LTD. 05/29/2009 Changed company name to the
present name 07/02/2009 Split off the par value to 1,000
KRW from 5,000 KRW 05/29/2009 Changed financial closing date
to December 31 from March 31 |
||||||||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Educationj |
|
Chairman & CEO |
Mr. |
Yoon Doh-Joon |
Korean |
1952.02.02 |
Kyunghee University, Korea |
|
Vice Chairman & CEO |
Mr. |
Park Je-Hwa |
Korean |
1951.07. |
Korea University, Korea |
|
Outside Director |
Mr. |
Kim Moon-Cheol |
Korean |
1959.07. |
Korea University, Korea |
|
Outside Director |
Mr. |
Shim Woo-Young |
Korean |
1958.01. |
Korea University, Korea |
|
Outside Director |
Mr. |
Ye Jong-Seok |
Korean |
1953.12. |
Indiana University, USA |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
114,319,097,163 |
329,073,408,017 |
5,278,174,214 |
|
|
(*)2012 |
223,371,996,543 |
324,284,672,388 |
1,311,240,916 |
|
(*)2011 |
234,561,984,465 |
339,431,477,173 |
17,679,223,071 |
(*)Figures are
based on the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
110,000,000,000 |
|
Paid-Up Capital(KRW) |
27,931,470,000 |
|
Total Issued Shares |
27,931,470 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
01/01/2013~06/30/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Total Assets |
329,073,408,017 |
324,284,672,388 |
339,431,477,173 |
|
Current Assets |
129,973,753,621 |
121,235,711,816 |
132,321,355,237 |
|
Cash & Cash Equivalents |
29,721,767,342 |
18,119,216,288 |
35,134,386,590 |
|
Current Financial Instruments |
3,020,000,000 |
16,020,000,000 |
1,920,000,000 |
|
Trade Receivables |
55,194,805,353 |
50,361,110,772 |
58,337,353,919 |
|
Other Receivables |
7,091,131,319 |
4,619,429,890 |
4,340,259,242 |
|
Other Current Assets |
506,525,454 |
521,511,873 |
426,647,100 |
|
Inventories |
34,439,524,153 |
31,594,442,993 |
32,162,708,386 |
|
Non-Current Assets |
199,099,654,396 |
203,048,960,572 |
207,110,121,936 |
|
Non-Current Financial Instruments |
5,207,796,173 |
5,310,369,623 |
5,237,102,873 |
|
Investment_Related Companies |
9,547,571,286 |
9,025,329,996 |
7,719,680,176 |
|
Tangibles |
179,891,387,113 |
183,871,644,027 |
188,283,834,049 |
|
Intangibles |
3,809,769,870 |
4,194,706,973 |
5,222,594,885 |
|
Other Receivables |
643,089,953 |
646,909,953 |
646,909,953 |
|
Deferred Income Tax Assets |
40,001 |
|
|
|
Total Liabilities |
98,890,927,513 |
97,290,002,202 |
109,807,603,415 |
|
Current Liabilities |
81,533,301,880 |
82,599,852,809 |
87,860,191,825 |
|
Trade Payables |
27,908,088,530 |
17,645,468,759 |
22,057,025,185 |
|
Current Portion of Long-Term
Debts |
6,000,000,000 |
10,000,000,000 |
18,500,000,000 |
|
Account Payables |
11,660,021,043 |
9,462,244,609 |
9,917,479,183 |
|
Other Current Liabilities |
32,043,159,839 |
41,128,259,689 |
33,007,682,454 |
|
Current Portion of Provisions |
3,922,032,468 |
4,363,879,752 |
4,378,005,003 |
|
Non-Current Liabilities |
17,357,625,633 |
14,690,149,393 |
21,947,411,590 |
|
Other Non-Current Financial Debts |
|
|
10,000,000,000 |
|
Provision for Severance & Retirement |
17,100,475,189 |
14,424,299,377 |
11,384,505,572 |
|
Other Payables |
257,150,444 |
235,534,079 |
168,065,010 |
|
Deferred Income Tax Credit |
|
30,315,937 |
394,841,008 |
|
Capital Stock |
27,931,470,000 |
27,931,470,000 |
27,931,470,000 |
|
Capital Surplus |
26,919,757,981 |
26,919,757,981 |
26,919,757,981 |
|
Other General Accumulated Amounts |
2,626,308,816 |
2,482,174,312 |
2,020,342,418 |
|
Profit Surplus |
172,704,943,707 |
169,661,267,893 |
172,752,303,359 |
|
Total Equity |
230,182,480,504 |
226,994,670,186 |
229,623,873,758 |
|
Liab. & Shareholder’s Equity |
329,073,408,017 |
324,284,672,388 |
339,431,477,173 |
|
Income Statement |
|||
|
Unit : Korean Won |
01/01/2013~06/30/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Sales |
114,319,097,163 |
223,371,996,543 |
234,561,984,465 |
|
Cost of Sold Goods |
62,894,390,671 |
124,599,322,902 |
130,150,663,580 |
|
Gross Profit |
51,424,706,492 |
98,772,673,641 |
104,411,320,885 |
|
Selling & Admin. Expenses |
45,150,680,233 |
88,769,770,081 |
82,308,586,712 |
|
Operating Income |
6,274,026,259 |
10,002,903,560 |
22,102,734,173 |
|
Other Income |
545,248,989 |
1,047,731,891 |
2,094,469,070 |
|
Other Expenses |
1,401,156,230 |
2,933,265,854 |
4,088,030,474 |
|
Finance Income |
551,821,267 |
1,534,903,930 |
844,150,545 |
|
Finance Expenses |
296,993,842 |
1,222,635,696 |
1,920,227,885 |
|
Income Before Taxes |
5,672,946,443 |
8,429,637,831 |
19,033,095,429 |
|
Income Taxes Expenses |
394,772,229 |
7,118,396,915 |
1,353,872,358 |
|
Net Income |
5,278,174,214 |
1,311,240,916 |
17,679,223,071 |
|
Cash Flows |
|||
|
Unit : Korean Won |
01/01/2013~06/30/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Operating Activities Cash Flows |
8,482,356,305 |
25,226,760,360 |
46,244,031,848 |
|
Net Income |
5,278,174,214 |
1,311,240,916 |
17,679,223,071 |
|
-Exp. without Cash Outflow |
9,572,743,902 |
25,454,453,573 |
20,574,319,789 |
|
-Revenue without Cash Inflows |
-791,500,717 |
-1,919,307,196 |
-1,094,344,589 |
|
-Changes in Asset/ &
Liability |
3,420,603,789 |
-2,306,774,422 |
14,883,432,436 |
|
Interests Received |
611,350,958 |
1,283,045,268 |
597,921,539 |
|
Interests Paid |
-244,398,351 |
-1,085,996,419 |
-1,769,830,010 |
|
Dividends Received |
28,481,700 |
28,481,700 |
36,819,500 |
|
Income Taxes |
-9,393,099,190 |
2,461,616,940 |
-4,663,509,888 |
|
Cash Flows from Investing |
9,353,350,806 |
-20,944,789,923 |
-9,429,437,738 |
|
Cash Flows from Financing |
-6,234,498,400 |
-21,293,123,000 |
-19,822,157,740 |
|
Increase/Decrease in Cash |
11,601,208,711 |
-17,011,152,563 |
16,992,436,370 |
|
Cash at the Beginning of Year |
18,119,216,288 |
35,134,386,590 |
18,140,995,301 |
|
Cash at the End of Year |
29,721,767,342 |
18,119,216,288 |
35,134,386,590 |
|
Main Products & Services |
Stomachic Digestives, Antibiotics, Pharmaceutical Raw Materials,
Cosmetics |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
|
|
Competitors |
JEIL PHARMACEUTICAL CO., LTD.(110111-0026652) 745-5, BANPO 1-DONG, SEOCHO-GU, SEOUL, KOREA TEL:+82-2-549-7451
FAX:+82-2-549-7478 BORYUNG PHARM CO., LTD.(110111-0012560) 15TH FL., BORYEONG BLDG., 66-21, WONNAM-DONG, JONGNO-GU, SEOUL, KOREA TEL:+82-2-708-8000
FAX:+82-2-742-6362 KWANGDONG PHARMACEUTICAL CO., LTD(110111-0152134) 4TH FL., GASAN BLDG., 1577-4, SEOCHO
3-DONG, SEOCHO-GU, SEOUL, KOREA TEL:+82-2-6006-7777 FAX:+82-2-6006-702 |
|
Affiliates |
DONG WHA G&P
CORPORATION(110111-0009343) (9.91% held by the subject company) DONG WHA DEVELOPMENT CO., LTD.(KOREA) (33.81% held by the subject company) HEUNG JIN MACHINERY CO., LTD.(130111-0010114) (29.58% held by the subject company) |
|
Overseas Office |
|
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
|
|
Subsidiary |
|
|
Corporate Ownership |
|
|
Major Shareholders |
|
|
Cooperative Enterprise |
|
|
Case No. |
Court |
Plaintiff(s)/ Creditor(s)/ Applicant(s) |
Defendant(s)/ Debtor(s)/ Respondent(s) |
Cause |
Amount (Million KRW) |
Status |
|
|
|
National Health Insurance Service |
The Subject Company |
Claim for Compensation from Damages |
1,563 |
3rd round is proceeding |
Not Available.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.78 |
|
|
1 |
Rs.101.42 |
|
Euro |
1 |
Rs.84.67 |
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.