|
Report Date : |
10.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
MYUNG MOON PHARM. CO., LTD. |
|
|
|
|
Registered Office : |
26, Jeyakgongdan 2-gil, Hyangnam-eup, Hwaseong-si, Gyeonggi-do 445-937 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
01.09.1983 |
|
|
|
|
Com. Reg. No.: |
124-81-35615 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacturer of Pharmaceutical Goods Other Than Medicaments |
|
|
|
|
No of Employees : |
438 |
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 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. South 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. South 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-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, dominance of large conglomerates (chaebols), and heavy reliance on exports, which comprise about half of GDP.
|
Source
: CIA |
Basic
|
Company Name |
MYUNG MOON
PHARM. CO., LTD. (Korean Company Name : “명문제약(주)”) |
|
Registered Address |
26, Jeyakgongdan 2-gil, Hyangnam-eup, Hwaseong-si,
Gyeonggi-do, Korea (Old Address System : 901-1, Sangsin-ri, Hyangnam-eup, Hwaseong-si,
Gyeonggi-do, Korea) |
|
Building |
|
|
Zip Code |
445-937 |
|
Tel |
+82-31-350-4000 +82-31-353-3519 |
|
Fax |
+82-31-353-7111 |
|
E-mail |
mmpharm@mmpharm.co.kr |
|
Website |
www.mmpharm.co.kr |
|
Trading
Address |
Myung Moon
Bldg., 7, Gangnam-daero 54-gil, Gangnam-gu, Seoul, Korea (Old Address System : Myung
Moon Bldg., 946-18, Dogok-dong, Gangnam-gu, Seoul, Korea) |
|
Tel |
+82-2-553-5805 +82-2-6711-2000 |
|
Fax |
+82-2-572-5137 |
|
Other
Address-Incheon Branch |
Rm.601, 534-2, Sang-dong, Wonmi-gu, Bucheon-si, Gyeonggi-do, Korea |
|
Tel |
+82-32-547-4178 |
|
Fax |
+82-32-547-0136 |
|
Other
Address-Gyeonggi Branch |
6FL., ASK Bldg., 975-11, Yeongtong-dong, Yeongtong-gu,
Suwon-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-202-4914~7 |
|
Fax |
+82-31-202-4857 |
|
Type |
Export/Import |
|
Industry |
Manufacture
of Pharmaceutical Goods Other Than Medicaments |
|
Main Business |
|
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
09/01/1983 |
The Subject owns
the premises of registered HQ address and trading address.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Antibiotics(51101500) |
|
Sell |
Antispasmodics(51172100) |
|
Sell |
Drugs used for gallbladder disease(51172000) |
|
Sell |
Cough and cold and antiallergy products(51161800) |
|
Sell |
Thrombolytic drugs and platelet aggregation
inhibitors(51131700) |
|
Sell |
Gonadotropic hormones and ovarian stimulants and inhibitors(51181900) |
|
Sell |
Antiulcer and related gastrointestinal GI
drugs(51171900) |
CEO’s
|
Name |
Lee
Kyu-Huok |
|
Address |
|
|
Date of Birth |
10/05/1949 |
|
Title |
Chairman
& CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
8,755,000,000 |
|||||||||||||||||||||
|
Employees |
438 |
|||||||||||||||||||||
|
Formation |
Listed
Company (Korea Stock Exchange : 017180) as of 07/10/2008 |
|||||||||||||||||||||
|
Bank Details |
Industrial Bank of Korea-Gangnam Branch Korea Exchange Bank Hana Bank |
|||||||||||||||||||||
|
Corporate Registered No. |
134111-0013180 |
|||||||||||||||||||||
|
Business Registered No. |
124-81-35615 |
|||||||||||||||||||||
|
Permit & Licenses |
Patent - A process for solubilizing aceclofenac (Registration No. 10-069154,
2006.11.16) - Novel Intermediate Compound for Valsartan and Preparation Process of
Valsartan Using thereof (Open 10-2006-85073, 2006. 7. 26) - Process for Manufacturing of Glimepiride (Open 10-2005-17776,
2005.2.23) - Novel Intermediate Compound for Amlodipine Besylate and Preparation
Process of Amlodipine Besylate Using thereof (Open 10-2005-122481, 2005. 12.
29) - Preparation Process of Lacidipine (Application 10-2006-31654, 2006.
4. 6) - Novel Intermediate Compound for Preparing Amlodipine, its
Preparation - Process and Preparation Process of Amlodipine Using it (Application 10-2006-103049,
2006. 10. 23) Int’l
Trade No.: 592611 |
|||||||||||||||||||||
|
Shareholder Position |
|
|||||||||||||||||||||
|
Company History |
09/01/1983 Incorporated as
the present name 04/20/1988 Moved to the present HQ address
from Kwanyang-dong, Anyang City, Gyeonggi-do, Korea 05/01/2007 Spin off the par value to 500 KRW
from 5,000 KRW 06/26/2008 Designated as an INNO-BIZ Company |
|||||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education/Career |
|
Chairman
& CEO |
Mr. |
Lee
Kyu-Huok |
Korean |
1949.10.05 |
Kyungbuk
National University, Korea |
|
President
& CEO |
Mr. |
Woo
Seok-Min |
Korean |
1968.03.26 |
Western
Illinois University, USA |
|
Outside
Director |
Mr. |
Jung
Yong-Jin |
Korean |
1965.02 |
Chungang
University, Korea |
|
Auditor |
Mr. |
Bae
Sang-Jin |
Korean |
1952.02 |
Seoul
National University, Korea |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
23,387,680,263 |
162,838,818,366 |
739,255,844 |
|
|
(*)2013 |
100,202,505,414 |
162,382,349,406 |
2,675,638,008 |
|
(*)2012 |
96,381,820,368 |
155,915,528,133 |
-11,547,463,326 |
|
(*)2011 |
115,039,065,268 |
167,007,575,531 |
4,996,048,032 |
|
2010 |
100,914,504,158 |
127,419,866,825 |
3,067,853,316 |
|
2009 |
92,246,558,947 |
117,479,467,493 |
2,940,980,537 |
|
2008 |
77,390,429,527 |
97,456,771,754 |
4,863,328,968 |
|
2007 |
60,927,940,077 |
59,369,319,393 |
6,583,194,839 |
|
2006 |
47,862,609,855 |
43,501,511,091 |
5,105,209,568 |
|
2005 |
40,345,904,690 |
35,675,186,707 |
4,387,839,760 |
|
2004 |
33,248,158,389 |
27,437,995,737 |
3,207,108,831 |
(*)Figures are based on the K-IFRS
Accounting System.
Financial Description
|
Authorized Capital(KRW) |
50,000,000,000 |
|
Paid-Up Capital(KRW) |
8,755,000,000 |
|
Total Issues Shares |
17,510,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
01/01/2014~03/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total Assets |
162,838,818,366 |
162,382,349,406 |
155,915,528,133 |
|
Current
Assets |
105,062,669,009 |
104,283,275,080 |
99,697,245,440 |
|
Cash & Cash Equivalents |
2,906,672,363 |
3,362,322,381 |
2,847,069,939 |
|
Current Financial Instruments |
6,947,905,524 |
6,448,891,097 |
5,973,464,689 |
|
Marketable Financial Instruments |
2,279,940,000 |
2,070,432,000 |
1,217,035,000 |
|
Trade Receivables |
73,252,427,158 |
74,154,508,760 |
71,315,872,988 |
|
Other
Receivables |
1,644,424,862 |
1,635,341,907 |
1,643,933,213 |
|
Uneraned
Income |
126,929,852 |
73,124,095 |
131,678,949 |
|
Short-Term Receivables |
3,253,500,000 |
2,350,000,000 |
220,000,000 |
|
Advance Payments |
432,419,000 |
333,214,000 |
115,190,000 |
|
Prepaid Expenses |
297,951,050 |
300,903,241 |
308,095,029 |
|
Deferred Income Tax Assets |
- |
- |
44,512,694 |
|
Inventories |
17,008,556,212 |
16,446,531,562 |
18,033,214,180 |
|
Non-Current
Assets |
57,776,149,357 |
58,099,074,326 |
56,218,282,693 |
|
Non-Current Financial Instruments |
1,210,780,449 |
1,162,508,328 |
2,022,276,965 |
|
Advance Payments |
191,523,288 |
285,715,068 |
667,715,068 |
|
Marketable Financial Instruments |
146,776,602 |
146,776,602 |
147,776,602 |
|
Investment_Related Companies |
15,706,970,000 |
15,706,970,000 |
12,306,970,000 |
|
Tangibles |
35,332,252,314 |
35,579,783,340 |
35,763,928,912 |
|
Intangibles |
4,792,118,074 |
4,800,892,358 |
4,903,979,516 |
|
Guarantees |
395,728,630 |
416,428,630 |
405,635,630 |
|
Total
Liabilities |
89,459,302,823 |
89,445,635,838 |
85,774,995,444 |
|
Current
Liabilities |
82,100,360,809 |
82,037,289,232 |
78,175,179,785 |
|
Trade
Payables |
8,697,772,574 |
8,940,389,352 |
10,157,276,359 |
|
Account Payables |
879,978,852 |
689,742,595 |
1,046,468,201 |
|
Accrued Expenses |
3,965,461,089 |
3,675,756,980 |
3,524,185,741 |
|
Short-Term Borrowings |
61,824,372,681 |
61,668,149,116 |
56,965,137,624 |
|
Current Portion of Long-Term
Debts |
203,203,190 |
252,742,030 |
975,445,810 |
|
Deferred Income Tax Credit |
917,442,031 |
1,018,669,342 |
|
|
Withholdings |
186,832,986 |
185,495,891 |
180,591,057 |
|
VAT
Withhold |
1,502,521,800 |
1,601,432,650 |
1,291,536,580 |
|
Advance Receipts |
622,982,490 |
661,055,903 |
579,543,192 |
|
Provisions
for Refund |
3,108,269,828 |
3,058,140,305 |
2,787,280,153 |
|
Finance
Guarantee Debts |
191,523,288 |
285,715,068 |
667,715,068 |
|
Non-Current
Liabilities |
7,358,942,014 |
7,408,346,606 |
7,599,815,659 |
|
Long-Term Borrowings |
50,702,130 |
101,676,830 |
350,011,200 |
|
Provision for Severance &
Retirement |
4,442,177,843 |
4,307,848,402 |
3,600,937,971 |
|
Guarantee
Deposit Withhold |
540,900,000 |
479,900,000 |
725,874,535 |
|
Deferred Income Tax Credit |
2,325,162,041 |
2,518,921,374 |
2,922,991,953 |
|
Capital
Stock |
8,755,000,000 |
8,500,000,000 |
8,500,000,000 |
|
Capital Surplus |
21,132,999,902 |
21,134,793,902 |
21,134,793,902 |
|
Others |
324,566,831 |
324,566,831 |
324,566,831 |
|
Profit Surplus |
43,166,948,810 |
42,977,352,835 |
40,181,171,956 |
|
Total Equity |
73,379,515,543 |
72,936,713,568 |
70,140,532,689 |
|
Liab. & Shareholder’s Equity |
162,838,818,366 |
162,382,349,406 |
155,915,528,133 |
|
Income Statement |
|||
|
Unit : Korean Won |
01/01/2014~03/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
23,387,680,263 |
100,202,505,414 |
96,381,820,368 |
|
Cost of Sold Goods |
10,960,142,852 |
51,377,140,383 |
52,743,666,084 |
|
Gross Profit |
12,427,537,411 |
48,825,365,031 |
43,638,154,284 |
|
Selling & Admin.
Expenses |
11,208,134,932 |
43,704,943,370 |
48,009,214,254 |
|
Operating Income |
1,219,402,479 |
5,120,421,661 |
-4,371,059,970 |
|
Finance Income |
300,864,732 |
297,334,782 |
406,793,825 |
|
Other Income |
143,401,701 |
1,373,113,162 |
274,227,165 |
|
Finance Expenses |
683,459,559 |
3,120,668,874 |
3,417,484,602 |
|
Other Expenses |
74,064,733 |
98,853,369 |
1,187,004,431 |
|
Income Before Taxes |
906,144,620 |
3,571,347,362 |
-8,294,528,013 |
|
Income Taxes Expenses |
166,888,776 |
895,709,354 |
3,252,935,313 |
|
Net Income |
739,255,844 |
2,675,638,008 |
-11,547,463,326 |
|
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 |
1,320,144,628 |
4,078,370,314 |
1,878,298,541 |
|
Cash Flows from
Operating |
2,433,499,552 |
6,770,927,270 |
9,513,298,596 |
|
Net Income |
739,255,844 |
2,675,638,008 |
-11,547,463,326 |
|
Adjustment |
1,630,862,984 |
8,220,621,245 |
11,985,197,970 |
|
Changes in Asset/
& Liability |
63,380,724 |
-4,123,331,983 |
9,075,563,952 |
|
Interests Received |
24,081,892 |
326,952,884 |
252,956,233 |
|
Interests Paid |
-675,561,396 |
-2,706,399,978 |
-2,967,391,134 |
|
Income Taxes |
-461,875,420 |
-315,109,862 |
-4,920,565,154 |
|
Cash Flows from
Investing |
-1,559,749,839 |
-7,604,040,526 |
-2,009,719,985 |
|
Cash Flows from
Financing |
-216,044,807 |
4,040,922,654 |
83,512,693 |
|
Increase/Decrease in
Cash |
-455,650,018 |
515,252,442 |
818,694,904 |
|
Cash at the Beginning
of Year |
3,362,322,381 |
2,847,069,939 |
2,028,375,035 |
|
Cash at the End of
Year |
2,906,672,363 |
3,362,322,381 |
2,847,069,939 |
Products,
Technologies, Services Description
|
Main Products & Services |
Manufacture, wholesale, export and import
of pharmaceuticals Selling of chemicals (with exception of a
poison and chemical class) A wholesale business of non-pharmaceuticals The publication of a document definite
promise about sale and delivery Division of labor of pharmaceuticals The business articles of food (health food) All the business attached to each an item ETC Anesthetic agent Analgesic agent Circulatory sys Anti-depressants Digestive sys Respiratory sys Hormone Dermatology/Uroloy Muscle relaxant Antibiotics Narcotics Anti rheumarthritis Anti osteoarthritis Anti-diabetics Anti inflammatory enzymes Anti-osteoporosis Anti-epileptics steroids appetite suppressant OTC Eye nutrition Antinausant Hepatics Immunologics Antidiarrheal agent Skin external preparation Digestive sys Calcium Cold drugs Cathartic Antiallergic agent Muscle relaxant Parasiticide Health supplement Genitourinary sys. Antidiarrheal agent |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
Trade Partners &
Competitors
|
Suppliers |
TRB CHEMEDICA INTERNATIONAL SA. ISHIMOTO BIO CHEMICAL LAB. PROTHERICS INC. CKD BIO CO., LTD.(110111-2373308) DAE
HE CHAMICAL CO., LTD.(134511-0005767) |
|
Customers |
CLARIS |
|
Competitors |
DAEWOONG
PHARMACEUTICAL CO., LTD.(134811-0075342) SHINPOONG PHARMACEUTICAL CO.,LTD.(130111-0011815) BOEHRINGER INGELHEIM KOREA LTD.(110111-0359342) SAMJIN PHARMACEUTICAL CO., LTD.(110111-0088652) DONGWHA PHARM IND CO., LTD.(110111-0043870) DONGA PHARMACEUTICAL
CO.,LTD.(110111-0017990) YUHAN CORPORATION(110111-0014409) HANMI PHAM CO., LTD.(134811-0003187) GREEN CROSS CORPORATION(110111-0109854) CHOONGWAE PHARMA CORP.(110111-0019342) |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
MYUNGJI PHARMACEUTICALS CO., LTD.(110111-0541036) (100.0% held by the subject company) MYUNGMOON INVESTMENT DEVELOPMENT CO., LTD.(134411-0040301) (57.0% held by the subject company) BIO R&D CO., LTD.(KOREA) (23.0% held by the subject company) |
|
Overseas Office |
|
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
|
|
Subsidiary |
MYUNGJI PHARMACEUTICALS CO.,
LTD.(110111-0541036) (100.0% held by the subject company) |
|
Corporate Ownership |
|
|
Major Shareholders |
|
|
Cooperative Enterprise |
-Licensed with; TRANS BUSSAN S.A CLARIS-INDIA MACROMED-USA -Insured Company SAMSUNG FIRE & MARINE INSURANCE CO., LTD(110111-0005078) HANWHA NON-LIFE INSURANCE CO., LTD.(110111-0006456) DONGBU INSURANCE CO., LTD.(110111-0095285) -Collaborated R&D with MEDICHEM
KOREA CO., LTD.(135811-0158543) |
Sales by Region
(Activity & Markets)
|
Sales/ Unit :Thousand KRW |
09/2010 |
2009 |
2008 |
|
Export |
614,512 |
1,003,990 |
761,410 |
|
Domestic |
75,572,613 |
91,242,569 |
76,629,019 |
|
Total |
76,187,125 |
92,246,559 |
77,390,429 |
The Subject
deals with the companies in China, Dominica, Guatemala, Hong Kong, Nigeria,
Pakistan and Vietnam.
Court Action
|
Case No. |
Court |
Plaintiff(s)/
Creditor(s)/ Applicant(s) |
Defendant(s)/
Debtor(s)/ Respondent(s) |
Cause |
Amount (Million KRW) |
Status |
|
|
- |
National
Health Insurance Corp. |
The
Subject Company & Others(22) |
Claim
for Compensation from Damages |
- |
2nd
round is proceeding. |
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 59.06 |
|
|
1 |
Rs. 99.34 |
|
Euro |
1 |
Rs. 80.61 |
INFORMATION DETAILS
|
Analysis Done by
: |
KRN |
|
|
|
|
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.