|
Report Date : |
08.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
HANMI PHARM CO., LTD. |
|
|
|
|
Registered Office : |
214, Muha-ro, Paltan-myeon, Hwaseong-si, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
30.09.2013 |
|
|
|
|
Date of Incorporation : |
01.07.2010 |
|
|
|
|
Com. Reg. No.: |
124-87-00613 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Medicinal Medicaments |
|
|
|
|
No. of Employees : |
1,746 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 |
HANMI PHARM CO., LTD. (Korean Company Name : “한미약품(주)”) |
|
Registered
Address |
214, Muha-ro, Paltan-myeon, Hwaseong-si, Gyeonggi-do, Korea (Old address System : 893-5, Hajeo-ri, Paltan-myeon,
Hwaseong-si, Gyeonggi-do, Korea) |
|
Building |
|
|
Zip Code |
445-958 |
|
Tel |
+82-31-350-5600 |
|
Fax |
+82-31-356-5151 |
|
E-mail |
webmaster2@hanmi.co.kr |
|
Website |
www.hanmi.co.kr |
|
Trading Address |
14, Wiryeseong-daero, Songpa-gu, Seoul, Korea (Old Address System : 45, Bangi 2-dong, Songpa-gu, Seoul, Korea) |
|
Tel |
+82-2-410-9114 |
|
Fax |
+82-2-410-9259 |
|
Other Address-R&D Center |
550,
Dongtangiheung-ro, Dongtan-myeon, Hwaseong-si, Gyeonggi-do, Korea (Old Address System :
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 |
|
Sub Business |
|
|
Established
(mm/dd/yyyy) |
07/01/2010 |
The Subject owns
the premises of registered HQ address.
Detailed Products
|
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 |
CEO’s
|
Name |
Lim Sung-Ki |
|
Address |
- |
|
Date of Birth |
03/01/1940 |
|
Title |
Chairman &
CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
20,702,790,000 |
||||||||||||||||||
|
Employees |
1,746 |
||||||||||||||||||
|
Formation |
Listed Company
(Korea Stock Exchange : 128940) as of 07/30/2010 A Company of
Hanmi Pharm., Group |
||||||||||||||||||
|
Bank Details |
SC First Bank
of Korea |
||||||||||||||||||
|
Corporate Registered
No. |
134811-0197550 |
||||||||||||||||||
|
Business
Registered No. |
124-87-00613 |
||||||||||||||||||
|
Permit &
Licenses |
Int’l Trade
No.: 986722 |
||||||||||||||||||
|
Shareholder
Position |
|
||||||||||||||||||
|
Company
History |
07/01/2010 Ex.
HANMI PHARM
CO., LTD., has spun
off into the existing company, HANMI HOLDINGS CO., LTD.(134811-0003187), and newly established
company, HANMI PHARM CO., LTD.(134811-0197550) |
Management
|
Job
Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
Chairman
& CEO |
Mr. |
Lim
Sung-Ki |
Korean |
1940.03.01 |
Chungang
University, Korea |
|
President
& CEO |
Mr. |
Lee
Gwan-Sun |
Korean |
1960.01.10 |
KAIST,
Korea |
|
Vice
Chairman |
Mr. |
Min
Kyung-Yoon |
Korean |
1951.01.06 |
Hanyang
University, Korea |
|
President |
Mr. |
Lim
Jong-Yoon |
Korean |
1972.10.27 |
Boston
College,USA |
|
Vice
President |
Mr. |
Han
Chang-Hee |
Korean |
1959.07.21 |
Seogang
University, Korea |
|
Vice
President |
Mr. |
Woo
Jong-Soo |
Korean |
1967.09.27 |
Chungnam
National University, Korea |
|
Outside
Director |
Mr. |
Lee
Moon-Young |
Korean |
1966.10 |
Ehwa
Women’s University, Korea |
|
Outside
Director |
Mr. |
Kim
Dae-Hyun |
Korean |
1977.02 |
Seoul
National University, Korea |
|
Outside
Director |
Mr. |
Kim
Chang-Soon |
Korean |
1950.10.24 |
Yonsei
University, Korea |
|
Year / Unit :
KRW |
Sales |
Assets |
Net Income |
|
415,128,235,314 |
718,425,999,665 |
21,807,487,770 |
|
|
(*)2012 |
543,793,074,263 |
699,170,537,420 |
7,034,142,840 |
|
(*)2011 |
512,496,775,248 |
662,074,997,623 |
-8,135,228,789 |
|
2010 |
294,303,553,351 |
673,601,985,479 |
-12,698,688,106 |
(*)Figures are based on the K-IFRS
Accounting System.
Financial Description
|
Authorized Capital(KRW) |
40,000,000,000 |
|
Paid-Up
Capital(KRW) |
20,702,790,000 |
|
Total Issues
Shares |
8,281,116 |
|
Balance Sheet |
|||
|
Unit : Korean
Won |
01/01/2013~09/30/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Total
Assets |
718,425,999,665 |
699,170,537,420 |
662,074,997,623 |
|
Current
Assets |
316,799,245,863 |
313,664,825,208 |
278,239,718,602 |
|
Cash
& Cash Equivalents |
67,225,013,375 |
47,687,092,246 |
15,883,772,031 |
|
Trade
Receivables & Other Receivables |
159,020,697,243 |
165,923,173,083 |
174,920,876,254 |
|
Inventories |
71,472,002,161 |
78,646,532,876 |
77,434,868,811 |
|
Deferred
Income Tax Assets |
163,855,944 |
136,569,150 |
59,162,133 |
|
Current
Financial Instruments |
10,660,288,013 |
18,602,824,059 |
7,463,124,220 |
|
Other
Current Assets |
8,257,389,127 |
2,668,633,794 |
2,477,915,153 |
|
Non-Current
Assets |
401,626,753,802 |
385,505,712,212 |
383,835,279,021 |
|
Marketable
Financial Instruments |
75,446,670,666 |
58,170,759,926 |
49,469,553,626 |
|
Investment_Subsidiaries |
54,801,846,869 |
54,801,846,869 |
54,801,846,869 |
|
Tangibles |
172,218,941,888 |
172,155,747,425 |
184,163,610,329 |
|
Investment_Real
Estates |
82,325,041 |
83,602,438 |
85,305,634 |
|
Intangibles |
77,238,888,121 |
75,405,069,966 |
75,779,452,760 |
|
Deferred
Income Tax Assets |
8,489,599,938 |
12,745,898,290 |
13,315,406,368 |
|
Non-Current
Financial Instruments |
13,348,481,279 |
12,142,787,298 |
6,220,103,435 |
|
Total
Liabilities |
368,591,946,953 |
384,670,316,936 |
361,349,059,926 |
|
Current
Liabilities |
193,544,185,163 |
252,789,067,010 |
181,524,986,977 |
|
Trade
Payables & Other Payables |
58,885,102,373 |
51,830,281,881 |
53,805,534,405 |
|
Short-Term
Borrowings |
96,863,960,375 |
70,164,771,597 |
83,107,105,530 |
|
Short-Term
Debentures |
0 |
10,000,000,000 |
10,000,000,000 |
|
Current
Portion of Long-Term Debts |
20,000,000,000 |
40,000,000,000 |
5,000,000,000 |
|
Current
Portion of Long-Term Debentures |
0 |
59,933,399,717 |
10,000,000,000 |
|
Other
Current Financial Debts |
374,069,982 |
374,418,992 |
74,024,202 |
|
Other
Current Liabilities |
17,421,052,433 |
20,486,194,823 |
19,538,322,840 |
|
Non-Current
Liabilities |
175,047,761,790 |
131,881,249,926 |
179,824,072,949 |
|
Long-Term
Borrowings |
10,000,000,000 |
30,000,000,000 |
80,000,000,000 |
|
Long-Term
Debentures |
139,400,766,379 |
79,659,515,198 |
79,711,373,279 |
|
Other
Non-Current Financial Debts |
9,393,089 |
0 |
235,214,971 |
|
Confirmed
Salaries |
16,095,992,144 |
12,983,703,602 |
10,776,678,036 |
|
Provisions for Refund |
9,541,610,178 |
9,238,031,126 |
9,100,806,663 |
|
Capital
Stock |
20,702,790,000 |
19,718,190,000 |
18,780,152,500 |
|
Capital
Surplus |
309,692,967,419 |
311,025,273,419 |
312,137,371,019 |
|
Profit
Surplus |
-2,132,698,636 |
-23,940,186,406 |
-30,964,281,876 |
|
Others |
21,570,993,929 |
7,696,943,471 |
772,696,054 |
|
Total
Equity |
349,834,052,712 |
314,500,220,484 |
300,725,937,697 |
|
Liab.
& Shareholder’s Equity |
718,425,999,665 |
699,170,537,420 |
662,074,997,623 |
|
Income Statement |
|||
|
Unit : Korean
Won |
01/01/2013~09/30/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Sales |
415,128,235,314 |
543,793,074,263 |
512,496,775,248 |
|
Cost
of Sold Goods |
207,996,451,640 |
261,644,343,290 |
259,058,398,584 |
|
Gross
Profit |
207,131,783,674 |
282,148,730,973 |
253,438,376,664 |
|
Selling
& Admin. Expenses |
124,775,544,595 |
191,636,542,899 |
189,388,215,581 |
|
R&D |
58,305,536,886 |
69,332,110,204 |
62,337,520,053 |
|
Operating
Income |
24,050,702,193 |
21,180,077,870 |
1,712,641,030 |
|
Finance
Income |
1,912,310,798 |
1,838,448,888 |
2,314,706,783 |
|
Finance
Expenses |
10,668,821,980 |
16,043,605,177 |
16,875,210,702 |
|
Other
Income |
9,979,063,568 |
5,969,563,850 |
5,618,219,969 |
|
Other
Expenses |
3,122,662,176 |
7,290,993,501 |
4,577,038,407 |
|
Income
Before Taxes |
22,150,592,403 |
5,653,491,930 |
-11,806,681,327 |
|
Income
Taxes Expenses |
343,104,633 |
-1,380,650,910 |
-3,671,452,538 |
|
Net
Income |
21,807,487,770 |
7,034,142,840 |
-8,135,228,789 |
|
Cash Flows |
|||
|
Unit : Korean
Won |
01/01/2013~09/30/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Operating
Activities Cash Flows |
54,112,053,914 |
40,653,272,218 |
40,037,650,102 |
|
Net
Income |
21,807,487,770 |
7,034,142,840 |
-8,135,228,789 |
|
Adjustment |
41,488,264,492 |
48,557,365,680 |
62,520,756,028 |
|
Interests
Received |
1,170,513,463 |
982,152,207 |
411,546,645 |
|
Dividends
Received |
462,482,920 |
456,397,000 |
722,540,912 |
|
Interests
Paid |
-10,789,407,937 |
-16,299,378,492 |
-15,459,960,879 |
|
Income
Taxes |
-27,286,794 |
-77,407,017 |
-22,003,815 |
|
Cash
Flows from Investing |
-9,953,320,054 |
-29,844,541,978 |
-20,038,424,422 |
|
Cash
Flows from Financing |
-23,885,407,912 |
21,592,544,260 |
-17,200,065,916 |
|
Increase/Decrease
in Cash |
20,273,325,948 |
32,401,274,500 |
2,799,159,764 |
|
Cash
at the Beginning of Year |
47,687,092,246 |
15,883,772,031 |
13,010,138,062 |
|
Cash
at the End of Year |
67,225,013,375 |
47,687,092,246 |
15,883,772,031 |
Products,
Technologies, Services Description
|
Main Products
& Services |
Digestion Reinforcing Agent, Vitamin Compound, Antibiosis
Emperor |
|
Detailed
Products Spec. |
|
|
Technologies Acquired |
|
Trade Partners &
Competitors
|
Suppliers |
HANMI FINE
CHEMICAL CO., LTD.(131111-0005106) |
|
Customers |
|
|
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 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
HANMI SCIENCE CO., LTD.(134811-0003187) HANMI PHARM CO., LTD.(134811-0197550) HANMI FINE
CHEMICAL CO., LTD.(131111-0005106) (63.0% held by
the subject company) ONLINE PHARM. CO., LTD.(134811-0239691) HANMI MEDICARE
CO., LTD.(110111-2098295) ERMURUS CO.,
LTD.(110111-1135501) RIGHTCOM CO., LTD. HMG KOREA CO., LTD.(Ex. LIMS CAPITAL CO., LTD.
:110111-3681304) HANMI IT CO.,
LTD.(110111-3206897) HANMI
PHARM.(CHINA) CO., LTD. (73.68% held by the subject company) HANMI
PHARM.(JAPAN) CO., LTD. HANMI EUROPE
LTD. |
Sales by Region
(Activity & Markets)
|
Sales/ Unit
:Mil KRW |
06/2011 |
2010 |
2009 |
|
Export |
34,160 |
44,631 |
|
|
Domestic |
224,470 |
249,673 |
|
|
Total |
258,630 |
294,304 |
|
The Subject
exports to Vietnam, Thailand, Cambodia, Malaysia, Singapore, Indonesia,
Philippines, Bangladesh and India.
Court Action
(*)There are 7
cases filed as Defendant(s)/ Debtor(s)/ Respondent(s) amounting
20,168,500,000 KRW.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.32 |
|
UK Pound |
1 |
Rs.101.78 |
|
Euro |
1 |
Rs.84.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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.