|
Report Date : |
21.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
HUONS CO., LTD. |
|
|
|
|
Formerly Known As : |
KWANGMYUNG PHARMACEUTICAL INDUSTRY CO. |
|
|
|
|
Registered Office : |
Rm. 1513, Byucksan Digital Valley 5-cha, 60-73, Gasan-dong,
Geumcheon-gu, Seoul 153-788 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
30.09.2013 |
|
|
|
|
Date of Incorporation : |
30.07.1965 |
|
|
|
|
Com. Reg. No.: |
129-81-07002 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Finished Medicaments |
|
|
|
|
No of Employees : |
432 |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 |
|
Company Name |
HUONS CO., LTD. |
|
Registered Address |
60-73, Gasan-dong, Geumcheon-gu, Seoul,
Korea |
|
Building |
Rm. 1513, Byucksan Digital Valley 5-cha |
|
Zip Code |
153-788 |
|
Tel |
+82-2-854-4700 |
|
Fax |
+82-2-848-0740 |
|
E-mail |
huons@huons.com |
|
Website |
www.huons.com |
|
Trading Address |
Rm. 1513, Byucksan Digital Valley 5-cha, 60-73,
Gasan-dong, Geumcheon-gu, Seoul, Korea |
|
Tel |
+82-2-854-4700 |
|
Fax |
+82-2-848-0740 |
|
Other Address-Jecheon Factory |
957, Wangam-dong, Jecheon-si, Chungbuk,
Korea |
|
Tel |
+82-43-653-7300 |
|
Fax |
+82-43-653-7311 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Finished Medicaments |
|
Main Business |
Finished Medicaments |
|
Established (mm/dd/yyyy) |
07/30/1965 |
The Subject owns
the premises of Jecheon Factory.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Anaesthetic drugs and related adjuncts and analeptics(51142900) |
|
Sell |
Acetaminophen(51142001) |
|
Sell |
Antibiotics(51101500) |
|
Sell |
Antacids and antiflatulents(51171500) |
|
Buy |
Chemistry reagents or solutions(41116105) |
|
Buy |
Drugs and Pharmaceutical Products(51000000) |
|
Name |
Jun Jae-Kap |
|
Date of Birth |
03/18/1957 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
4,500,000,000 |
||||||||||||||||||||||||
|
Employees |
432 |
||||||||||||||||||||||||
|
Formation |
Listed Company (KOSDAQ : 084110) as of 12/19/2006 |
||||||||||||||||||||||||
|
Bank Details |
Industrial Bank of Korea |
||||||||||||||||||||||||
|
Corporate Registered No. |
110111-0400202 |
||||||||||||||||||||||||
|
Business Registered No. |
129-81-07002 |
||||||||||||||||||||||||
|
Permit & Licenses |
08/19/2003 ISO 9001 Int’l Trade No.: 11390512 |
||||||||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||||||||
|
Company History |
07/30/1965 Established as Kwangmyung
Pharmaceutical Industry Co.(Sole Proprietorship) 08/08/1987 Incorporated as KWANGMYUNG
PHARMACEUTICAL INDUSTRY CO., LTD. 12/29/1993 Acquired KPMG License 03/06/2003 Changed company name to the
present name 02/2005 Designated as an INNO-BIZ Company 03/16/2007 Moved to the present HQ address
from 907-6,
Sangsin-ri, Hyangnam-eup, Hwaseong-si, Gyeonggi-do, Korea |
||||||||||||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
President & CEO |
Mr. |
Jun Jae-Kap |
Korean |
1957.03.18 |
Seoul National University, Korea |
|
Director |
Mr. |
Yoon Sung-Tae |
Korean |
1964.08 |
Hanyang University, Korea |
|
Outside Director |
Mr. |
Choi Jong-Duck |
Korean |
1952.08 |
Dongkook University, Korea |
|
Auditor |
M/S. |
Lee In-Sook |
Korean |
1955.01 |
Chungang University, Korea |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
96,024,407,207 |
164,756,144,196 |
10,671,255,592 |
|
|
(*)2012 |
122,058,612,283 |
158,238,215,136 |
6,345,993,057 |
|
(*)2011 |
106,625,866,962 |
154,580,884,930 |
2,976,784,636 |
|
(*)2010 |
100,867,362,770 |
148,594,210,164 |
-2,416,027,025 |
|
2009 |
80,893,065,741 |
130,500,953,040 |
7,050,837,026 |
|
2008 |
74,426,049,768 |
104,330,238,817 |
12,253,906,544 |
|
2007 |
63,025,093,446 |
87,504,716,259 |
10,546,452,531 |
|
2006 |
48,074,497,342 |
54,789,752,107 |
7,608,045,435 |
|
2005 |
38,627,899,024 |
40,620,523,714 |
5,626,141,757 |
(*)Figures are based
on the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
10,000,000,000 |
|
Paid-Up Capital(KRW) |
4,500,000,000 |
|
Total Issued Shares |
9,000,000 |
Balance
Sheet
|
|||
|
|
|
|
|
|
Unit : Korean Won |
01/01/2013~09/30/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Total Assets |
164,756,144,196 |
158,238,215,136 |
154,580,884,930 |
|
Current Assets |
85,634,995,047 |
85,663,834,562 |
80,683,045,945 |
|
Cash & Cash
Equivalents |
11,245,310,073 |
15,213,665,920 |
5,244,810,429 |
|
Current Financial
Instruments |
3,020,000,000 |
8,330,000,000 |
12,940,000,000 |
|
Trade Receivables |
43,357,587,119 |
39,657,030,154 |
40,503,218,036 |
|
Other Receivables |
2,806,232,162 |
2,517,966,532 |
3,084,402,804 |
|
Inventories |
19,399,839,032 |
16,187,905,129 |
15,814,573,270 |
|
Other Current Assets |
5,806,026,661 |
3,757,266,827 |
3,096,041,406 |
|
Non-Current Assets |
79,121,149,149 |
72,574,380,574 |
73,897,838,985 |
|
Non-Current Financial
Instruments |
3,128,421,613 |
959,619,455 |
747,372,733 |
|
Other Long-Term Receivables |
498,370,000 |
784,326,258 |
2,032,672,647 |
|
Marketable Financial
Instruments |
3,761,493,782 |
3,740,465,880 |
3,000,611,279 |
|
Investment_Subsidiaries |
15,507,912,892 |
11,904,912,892 |
11,904,912,892 |
|
Tangibles |
50,717,282,688 |
50,125,739,428 |
49,545,081,925 |
|
Intangibles |
3,411,484,555 |
3,115,297,765 |
3,712,223,946 |
|
Other Non-Current
Assets |
1,694,822,521 |
1,531,109,950 |
1,673,564,950 |
|
Deferred Income Tax
Assets |
401,361,098 |
412,908,946 |
1,281,398,613 |
|
Total Liabilities |
54,075,864,652 |
65,162,500,081 |
70,871,782,494 |
|
Current Liabilities |
48,857,864,652 |
41,820,380,998 |
38,734,700,258 |
|
Trade Payables |
9,920,124,498 |
8,968,546,158 |
8,876,987,606 |
|
Other Payables |
9,044,945,019 |
5,702,344,753 |
4,401,123,634 |
|
Short-Term Borrowings |
18,428,796,222 |
15,983,416,151 |
15,678,614,094 |
|
Deferred Income Tax
Credit |
1,721,005,670 |
827,361,045 |
240,847,948 |
|
Provisions for Refund |
904,720,978 |
1,103,873,629 |
894,337,833 |
|
Current Portion of
Long-Term Debts |
7,250,000,000 |
7,250,000,000 |
7,250,000,000 |
|
Finance Gurantee
Debts |
238,711,216 |
228,824,481 |
129,350,679 |
|
Other Current
Liabilities |
1,349,561,049 |
1,756,014,781 |
1,263,438,464 |
|
Non-Current
Liabilities |
5,218,000,000 |
23,342,119,083 |
32,137,082,236 |
|
Long-Term Borrowings |
4,812,500,000 |
10,250,000,000 |
19,500,000,000 |
|
Bond With Warrant |
0 |
12,717,619,083 |
12,017,135,496 |
|
Other Non-Current
Liabilities |
405,500,000 |
374,500,000 |
241,500,000 |
|
Confirmed Salaries |
0 |
|
378,446,740 |
|
Capital Stock |
5,265,971,000 |
4,744,407,500 |
4,500,000,000 |
|
Capital Surplus |
40,034,233,190 |
34,307,913,898 |
31,170,880,710 |
|
Capital Adjustment |
-1,180,714,332 |
-3,561,358,087 |
-3,897,996,000 |
|
Others |
1,114,505,583 |
1,435,126,083 |
1,266,607,326 |
|
Profit Surplus |
65,446,284,103 |
56,149,625,661 |
50,669,610,400 |
|
Total Equity |
110,680,279,544 |
93,075,715,055 |
83,709,102,436 |
|
Liab. &
Shareholder’s Equity |
164,756,144,196 |
158,238,215,136 |
154,580,884,930 |
|
Unit : Korean Won |
01/01/2013~09/30/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Sales |
96,024,407,207 |
122,058,612,283 |
106,625,866,962 |
|
Cost of Sold Goods |
50,033,432,980 |
66,202,404,859 |
60,729,713,926 |
|
Gross Profit |
45,990,974,227 |
55,856,207,424 |
45,896,153,036 |
|
Selling & Admin.
Expenses |
31,920,833,715 |
43,006,476,456 |
39,205,169,113 |
|
Operating Income |
14,070,140,512 |
12,849,730,968 |
6,690,983,923 |
|
Other Income |
2,605,784,473 |
1,797,323,665 |
2,152,297,578 |
|
Other Expenses |
1,028,303,754 |
3,580,917,089 |
2,156,488,310 |
|
Finance Income |
951,975,705 |
12,463,602,430 |
3,774,346,588 |
|
Finance Expenses |
3,964,679,526 |
14,432,700,187 |
6,792,926,122 |
|
Income Before Taxes |
12,634,917,410 |
9,097,039,787 |
3,668,213,657 |
|
Income Taxes Expenses |
1,963,661,818 |
2,751,046,730 |
691,429,021 |
|
Net Income |
10,671,255,592 |
6,345,993,057 |
2,976,784,636 |
|
Unit : Korean Won |
01/01/2013~09/30/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Operating Activities Cash Flows |
13,028,476,263 |
16,601,756,525 |
13,597,053,087 |
|
Net Income |
10,671,255,592 |
6,345,993,057 |
2,976,784,636 |
|
Adjustment |
3,718,383,692 |
12,019,976,339 |
12,434,474,980 |
|
Interests Received |
463,458,908 |
1,008,358,679 |
137,304,254 |
|
Dividends Received |
7,574,100 |
102,168,839 |
|
|
Interests Paid |
-814,621,963 |
-1,520,944,909 |
-1,889,859,293 |
|
Income Taxes |
-1,017,574,066 |
-1,353,795,480 |
-61,651,490 |
|
Cash Flows from
Investing |
-6,238,976,224 |
-1,135,520,735 |
-17,194,031,499 |
|
Cash Flows from
Financing |
-10,816,021,684 |
-5,656,445,408 |
7,413,897,016 |
|
Increase/Decrease in
Cash |
-4,026,521,645 |
9,809,790,382 |
3,816,918,604 |
|
Cash at the Beginning
of Year |
15,213,665,920 |
6,492,830,429 |
2,690,484,521 |
|
Cash at the End of
Year |
11,245,310,073 |
16,252,987,134 |
6,492,830,429 |
|
Main Products & Services |
Pharmaceuticals, Animal Health,
Pharmaceutical Intermediates |
|
Competitors |
DONGA PHARMACEUTICAL
CO.,LTD(110111-0017990) HANMI PHAM CO.,LTD(134811-0003187) YUHAN CORPORATION(110111-0014409) GREEN CROSS CORPORATION(110111-0109854) CHOONGWAE PHARMA CORPORATION(110111-0019342) |
Related
Parties (Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
HUMEDIX CO., LTD.(110111-2727141) (35.55% held by the subject company) HUBENA CO.,LTD.(161311-0005635) (87.50% held by the subject company) HUNIZ CO., LTD.(180111-0299817) (25.7% held by the subject company) |
|
Cooperative Enterprise |
-Strategic Partner ALCON, INC. TOZAI HOLDINGS INC.(110111-1506835) |
News Clipping
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.28 |
|
|
1 |
Rs. 103.84 |
|
Euro |
1 |
Rs. 85.69 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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.