|
Report Date : |
04.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
JW HOLDINGS
CORPORATION |
|
|
|
|
Registered Office : |
2477, Nambusunhwan-ro, Seocho-gu, Seoul, Korea, Zip Code 137-864 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
03.07.2007 |
|
|
|
|
Com. Reg. No.: |
108-81-80331 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Engaged in Medical supplies,
Holding Company, Real Estate Leasing, Real Estate Purchasing & Selling as
well as Investment & Management Consulting |
|
|
|
|
No of Employees : |
163 |
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 : |
Slow But Correct |
|
|
|
|
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 and 2013 the
economy experienced sluggish growth because of market slowdowns in the United
States, China, and the Eurozone. The administration in 2014 is likely to face
the challenge 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 about half of GDP.
|
Source : CIA |
|
Company Name |
JW HOLDINGS
CORPORATION (Korean Company Name : “제이더블유홀딩스(주)”) |
|
Registered
Address |
2477, Nambusunhwan-ro, Seocho-gu, Seoul, Korea |
|
Zip
Code |
137-864 |
|
Tel |
+82-2-840-6777 |
|
Fax |
+82-2-841-1213 |
|
E-mail |
|
|
Website |
|
|
Trading
Address |
2477, Nambusunhwan-ro, Seocho-gu, Seoul,
Korea (Old Address System : 1424-2, Seocho 1-dong, Seocho-gu, Seoul, Korea) |
|
Tel |
+82-2-840-6777 |
|
Fax |
+82-2-841-1213 |
|
Type |
Export/Import |
|
Industry |
Holding
Companies |
|
Main Business |
Medical
supplies, Holding Company, Real
Estate Leasing, Real Estate Purchasing & Selling, Investment &
Management Consulting |
|
Sub Business |
Wholesale
of Medicine and Medical Goods |
|
Established
(mm/dd/yyyy) |
07/03/2007 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Antibiotics(51101500) |
|
Sell |
Antineoplastic
agents(51110000) |
|
Sell |
Dietary
supplements and nutritional therapy products(51191900) |
|
Sell |
Antifungal
drugs(51101800) |
|
Sell |
Glucosamine(51142149) |
|
Sell |
Antiulcer
and related gastrointestinal GI drugs(51171900) |
|
Sell |
Oxytocin(51182203) |
|
Sell |
Antifungal
drugs(51101800) |
|
Sell |
Nonsteroidal
anti inflammatory drugs NSAIDs(51142100) |
|
Sell |
Anaesthetic
drugs and related adjuncts and analeptics(51142900) |
|
Sell |
Lens
cleaner(46181806) |
|
Name |
Lee
Kyung-Ha |
|
Address |
653, Gaepo-dong, Gangnam-gu, Seoul, Korea |
|
Date of Birth |
08/29/1963 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
26,973,735,500 |
|||||||||||||||||||||
|
Employees |
163 |
|||||||||||||||||||||
|
Formation |
Listed Company (Korea Stock Exchange:
096760) as of 07/31/2007 |
|||||||||||||||||||||
|
Bank Details |
SC First Bank of Korea Shinhan Bank Woori Bank |
|||||||||||||||||||||
|
Corporate Registered No. |
110111-3710468 |
|||||||||||||||||||||
|
Business Registered No. |
108-81-80331 |
|||||||||||||||||||||
|
Permit & Licenses |
Int’l Trade No.: 30553295 |
|||||||||||||||||||||
|
Shareholder Position |
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Company History |
07/03/2007Incorporated as a Holding company
by taking Investment Business and Overseas Business, after spin-off from CHOONGWAE PHARMA CORP.(110111-0019342) 12/29/2010
Changed company name to the present name 06/2012
Moved to the present HQ address from 698, Sindaebang 1-dong, Dongjak-gu, Seoul,
Korea |
|
Job
Description |
Title |
Name |
Nationality |
Date of
Birth |
Education |
|
Chairman
& CEO |
Mr. |
Lee Chong-Ho |
Korean |
1963.08.29 |
Sungkyunkwan University, Korea |
|
President
& CEO |
Mr. |
Lee Kyung-Ha |
Korean |
1932.12.01 |
Dongkuk University, Korea |
|
President
& COO |
Mr. |
Park Koo-Seo |
Korean |
1955.01 |
- |
|
Outside
Director |
Mr. |
Yoon Jung-Cheol |
Korean |
1941.02 |
- |
|
Outside
Director |
Mr. |
Kim Chang-Hern |
Korean |
1943.07 |
- |
|
Auditor |
Mr. |
Jung Jae-Kwan |
Korean |
1941.03.22 |
Seogang University, Korea |
|
Year / Unit
: KRW |
Sales |
Assets |
Net Income |
|
(*)03/2014 |
14,250,013,856 |
278,509,282,974 |
-1,744,533,306 |
|
(*)2013 |
55,685,932,215 |
275,629,481,077 |
25,907,421,032 |
|
(*)2012 |
54,490,271,688 |
227,845,090,551 |
-9,740,524,889 |
|
(*)2011 |
46,345,431,165 |
213,542,223,951 |
2,620,199,209 |
|
2010 |
65,715,586,443 |
191,438,562,853 |
25,036,708,156 |
|
2009 |
64,392,763,279 |
158,042,533,645 |
5,034,559,766 |
|
2009 |
64,392,763,279 |
158,042,533,645 |
5,034,559,766 |
|
2008 |
43,338,610,828 |
152,426,709,993 |
(-)4,337,067,922 |
|
2007 |
16,029,648,528 |
142,003,509,441 |
(-)7,039,856,165 |
(*)Figures are based on
the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
70,000,000,000 |
|
Paid-Up Capital(KRW) |
26,973,735,500 |
|
Total Issued Shares |
53,947,471 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
01/01/2014~03/31/2014 |
As of 12/31/2013 |
As of
12/31/2012 |
|
Total Assets |
278,509,282,974 |
275,629,481,077 |
250,545,090,551 |
|
Current Assets |
41,970,481,629 |
40,440,763,012 |
19,827,714,178 |
|
Cash & Cash
Equivalents |
7,992,702,136 |
7,606,775,449 |
221,217,980 |
|
Current Financial
Instruments |
1,460,000,000 |
1,460,000,000 |
1,450,000,000 |
|
Trade Receivables |
16,074,731,687 |
16,582,845,716 |
12,659,787,003 |
|
Short-Term
Receivables |
7,400,000,000 |
6,900,000,000 |
4,500,000,000 |
|
Other Receivables |
2,277,600,491 |
1,347,300,801 |
365,162,119 |
|
Inventories |
5,422,042,788 |
5,847,897,289 |
0 |
|
Other Current Assets |
1,343,404,527 |
695,943,757 |
631,547,076 |
|
Non-Current Assets |
236,538,801,345 |
235,188,718,065 |
230,717,376,373 |
|
Non-Current Financial
Instruments |
3,977,235,000 |
3,977,235,000 |
3,977,235,000 |
|
Investment_Related
Companies |
199,810,494,656 |
199,810,494,656 |
179,205,003,696 |
|
Tangibles |
5,676,086,114 |
5,755,422,288 |
5,874,398,565 |
|
Investment_Real
Estates |
9,682,300,065 |
9,716,246,674 |
9,852,033,110 |
|
Real-Estate to be Sold |
0 |
0 |
22,700,000,000 |
|
Intangibles |
8,595,018,139 |
7,211,213,439 |
879,521,938 |
|
Deferred Income Tax
Assets |
3,427,958,514 |
3,081,356,660 |
2,588,776,373 |
|
Other Non-Current
Assets |
5,369,708,857 |
5,636,749,348 |
5,640,407,691 |
|
Total
Liabilities |
115,344,482,882 |
109,443,024,726 |
86,231,634,322 |
|
Current Liabilities |
89,889,135,622 |
82,298,451,827 |
79,886,181,452 |
|
Trade Payables |
12,664,995,606 |
8,840,490,531 |
3,250,298,570 |
|
Short-Term Borrowings |
56,852,694,664 |
57,170,767,093 |
40,164,881,010 |
|
Account Payables |
9,949,729,736 |
6,649,877,939 |
1,061,730,812 |
|
Advance Receipts |
5,522,045,454 |
5,692,990,223 |
0 |
|
Withholdings |
118,017,070 |
218,411,604 |
178,769,825 |
|
VAT Withhold |
0 |
0 |
39,542,199 |
|
Accrued Expenses |
349,752,397 |
302,041,535 |
209,521,725 |
|
Accrued Income Tax |
2,199,851,560 |
2,147,117,612 |
877,414,410 |
|
Accrued Dividends |
1,273,794,450 |
1,123,075 |
952,580 |
|
Finance Guarantee Debts |
958,254,685 |
1,275,632,215 |
783,718,649 |
|
Other Non-Current
Derivatives |
0 |
0 |
33,319,351,672 |
|
Non-Current Liabilities |
25,455,347,260 |
27,144,572,899 |
6,345,452,870 |
|
Provision for
Severance & Retirement |
4,212,148,335 |
3,847,306,767 |
3,198,141,545 |
|
Confirmed Salaries |
81,983,455 |
80,592,205 |
90,984,394 |
|
Long-Term Advance Receipts |
18,690,000,000 |
20,389,090,909 |
0 |
|
Guarantee Deposit Withhold |
1,886,807,500 |
1,886,807,500 |
1,944,750,000 |
|
Finance Guarantee Debts |
584,407,970 |
940,775,518 |
1,111,576,931 |
|
Capital Stock |
26,973,735,500 |
25,701,064,500 |
24,488,952,500 |
|
Capital Surplus |
93,601,016,497 |
94,873,687,497 |
96,085,799,497 |
|
Others |
-2,297,343,468 |
-2,292,891,890 |
-2,288,614,807 |
|
Profit Surplus |
44,887,391,563 |
47,904,596,244 |
23,327,319,039 |
|
Total Equity |
163,164,800,092 |
166,186,456,351 |
141,613,456,229 |
|
Liab. &
Shareholder’s Equity |
278,509,282,974 |
275,629,481,077 |
227,845,090,551 |
Income Statement
|
|||
|
Unit : Korean Won |
01/01/2014~03/31/2014 |
As of
12/31/2013 |
As of
12/31/2012 |
|
Revenues |
14,250,013,856 |
55,685,932,215 |
54,490,271,688 |
|
Operating Expenses |
14,191,919,346 |
66,153,042,307 |
56,930,625,000 |
|
Operating Income |
58,094,510 |
-10,467,110,092 |
-2,440,353,312 |
|
Other Income |
4,957,168 |
44,128,059,665 |
1,741,852,546 |
|
Other Expenses |
1,887,730,461 |
100,676,519 |
245,648,747 |
|
Finance Income |
980,305,261 |
3,854,049,005 |
1,730,766,673 |
|
Finance Expenses |
1,194,027,690 |
9,402,471,373 |
17,431,821,268 |
|
Income Before Taxes |
-2,038,401,212 |
28,011,850,686 |
-16,645,204,108 |
|
Income Taxes Expenses |
-293,867,906 |
2,104,429,654 |
-6,904,679,219 |
|
Net Income |
-1,744,533,306 |
25,907,421,032 |
-9,740,524,889 |
Cash Flows
|
|||
|
Unit : Korean Won |
01/01/2014~03/31/2014 |
As of
12/31/2013 |
As of
12/31/2012 |
|
Operating Activities Cash Flows |
2,581,550,546 |
13,392,094,435 |
-5,115,771,731 |
|
Cash Flows from Operating |
2,641,628,859 |
15,099,898,424 |
-4,480,178,963 |
|
Net Income |
-1,744,533,306 |
25,907,421,032 |
-9,740,524,889 |
|
Adjustment |
-2,540,337,803 |
-38,909,106,147 |
8,315,808,433 |
|
Changes in Asset/ & Liability |
6,926,499,968 |
28,101,583,539 |
-3,055,462,507 |
|
Interests Received |
70,014,364 |
369,683,304 |
484,789,964 |
|
Interests Paid |
-826,530,240 |
-2,505,176,960 |
-1,411,268,567 |
|
Dividends Received |
696,437,563 |
1,710,479,792 |
1,427,417,045 |
|
Income Taxes |
|
-1,282,790,125 |
-1,136,531,210 |
|
Cash Flows from Investing |
-1,970,990,980 |
-21,329,369,274 |
-5,852,905,546 |
|
Cash Flows from Financing |
-322,524,007 |
15,789,667,445 |
11,090,079,971 |
|
Increase/Decrease in Cash |
288,035,559 |
7,852,392,606 |
121,402,694 |
|
Cash at the Beginning of Year |
7,606,775,449 |
221,217,980 |
100,028,394 |
|
Cash at the End of Year |
7,992,702,136 |
7,606,775,449 |
221,217,980 |
|
Main Products & Services |
·
Medical
Supplies ·
Holding
Company ·
Real
Estate Leasing, ·
Purchasing
& Selling Investment ·
&
Management Consulting |
|
Suppliers |
TANABE(JAPAN) |
|
Customers |
BERLIN CHEMIE(GERMANY) |
|
Competitors |
GREEN CROSS HOLDINGS CO.,
LTD.(134511-0000014) SAMYANG CORPORATION(110111-0026131) ILYANG PHARMACEUTICAL CO.,
LTD.(110111-0124802) |
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
JW
PHARMACEUTICAL CORPORATION(110111-0019342) JW SHINYAK CORPORATION(110111-0304149) JW INDUSTRIAL CORPORATION(110111-0601454) JW LIFE SCIENCE CORPORATION(135011-0057395) JW MEDICAL CORPORATION
110111-3330935) JW CHEMITOWN CORPORATION(110111-1769194) JW CREAGENE INC.(160111-0070021) CORAZONX,INC 335 PARKPLACE, SUITE G-117 KIRKLAND, WA 98033, USA JW THERIAC PHARMACEUTICAL CORPORATION 600 BROADWAY MEDICAL CENTER,SUITE 510, SEATTLE, WA, USA |
|
Cooperative Enterprise |
-Insured Company GREEN
NON-LIFE INSURANCE CO., LTD.(110111-0007082) |
(Activity & Markets)
The Subject deals with the companies in USA, Asia, Africa, Europe and
China.
No.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.21 |
|
UK Pound |
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.80.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MNL |
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.