|
Report Date : |
30.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
NEOPHARM CO., LTD. |
|
|
|
|
Registered Office : |
309-8, Techno 2-ro, Yuseong-gu, Daejeon, Korea |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
01.07.2000 |
|
|
|
|
Com. Reg. No.: |
305-81-38977 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Perfumes and Cosmetics |
|
|
|
|
No. of Employees |
75 |
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 |
NEOPHARM CO., LTD. (Korean Company Name : “(주)네오팜”) |
|
Registered
Address |
309-8, Techno 2-ro, Yuseong-gu, Daejeon, Korea (Old Address System : 928, Tamnip-dong, Yuseong-gu,
Daejeon, Korea) |
|
Building |
|
|
Zip Code |
305-510 |
|
Tel |
+82-42-864-0036~8 |
|
Fax |
+82-42-864-0039 |
|
E-mail |
|
|
Website |
www.neopharm.co.kr |
|
Trading Address |
2FL., BH Bldg., 5, Bangbae-ro 18-gil, Seocho-gu, Seoul, Korea (Old Address System : 2FL., BH Bldg., 902-5, Bangbae 1-dong, Seocho-gu, Seoul, Korea) |
|
Tel |
+82-2-533-0804 |
|
Fax |
+82-2-591-4522 |
|
Other Address |
|
|
Tel |
|
|
Fax |
|
|
Type |
Export |
|
Industry |
Manufacture of Perfumes and Cosmetics |
|
Main Business |
Atopic Moisturizer, Alternative Industrial Cleanser |
|
Sub Business |
|
|
Established
(mm/dd/yyyy) |
07/01/2000 |
Detailed Products
|
Activity |
Detailed
Products (UNSPSC) |
|
Sell |
Bath gels(53131612) |
|
Sell |
Skin care products(53131613) |
|
Sell |
Ultrasonic cleaning equipment(42281712) |
|
Sell |
Cleaning and disinfecting solutions(47131800) |
|
Buy |
Bottles(24122000) |
|
Buy |
Sorbitol(51211613) |
|
Buy |
Packaging boxes(24121503) |
|
Buy |
Glycerine(51171608) |
|
Buy |
Alcohols or its substitutes(12352104) |
CEO’s
|
Name |
Park Byeong-Deog |
|
Address |
|
|
Date of Birth |
01/07/1966 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
3,730,618,500 |
|||||||||||||||||||||
|
Employees |
75 |
|||||||||||||||||||||
|
Formation |
Listed Company (KOSDAQ : 092730) as of 01/30/2007 Venture Business A Company of Aekyung Group |
|||||||||||||||||||||
|
Bank Details |
Hana
Bank-Daeduck Branch |
|||||||||||||||||||||
|
Corporate
Registered No. |
160111-0100688 |
|||||||||||||||||||||
|
Business
Registered No. |
305-81-38977 |
|||||||||||||||||||||
|
Permit &
Licenses |
07/2005 INNO-BIZ 12/2005 ISO 14001 12/2005 ISO 9001 09/2009 KGMP 12/2009 CGMP Int’l Trade No.: 16104635 |
|||||||||||||||||||||
|
Shareholder
Position |
|
|||||||||||||||||||||
|
Company History |
07/01/2000
Incorporated as the present name 09/14/2000
Designated as a Venture Business 05/02/2008
Moved to the present HQ address from 125, Gwahak-ro, Yuseong-gu, Daejeon,
Korea 11/01/2012
Designated as a Venture Business again |
|||||||||||||||||||||
|
|
|
Management
|
Job
Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
President & CEO |
Mr. |
Park
Byeong-Deog |
Korean |
1966.01.07 |
Seoul National
University, Korea |
|
Executive Director |
Mr. |
Bae Hang-Sik |
Korean |
1956.08.14 |
Dongkuk
University, Korea |
|
Director |
Mr. |
Kim Yoon |
Korean |
1965.10. |
Kunkuk
University, Korea |
|
Auditor |
Mr. |
Lee Seok-Joo |
Korean |
1969.10.28 |
Seoul National
University, Korea |
|
Year / Unit :
KRW |
Sales |
Assets |
Net Income |
|
(*)03/2014 |
6,298,478,863 |
34,580,507,913 |
1,265,788,940 |
|
(*)2013 |
20,137,820,915 |
34,758,706,915 |
1,895,049,533 |
|
(*)2012 |
18,774,371,846 |
34,141,788,906 |
647,762,927 |
|
2011 |
16,944,305,401 |
34,000,641,679 |
904,242,301 |
|
2010 |
14,661,158,403 |
33,037,674,927 |
1,235,872,719 |
(*)Figures are based on the K-IFRS
Accounting System.
Financial Description
|
Authorized
Capital(KRW) |
10,000,000,000 |
|
Paid-Up
Capital(KRW) |
3,730,618,500 |
|
Total Issued
Shares |
7,461,237 |
|
Balance Sheet |
|||
|
Unit : Korean
Won |
01/01/2014~03/31/2014 |
As of
12/31/2013 |
As of
12/31/2012 |
|
Total
Assets |
34,580,507,913 |
34,758,706,915 |
34,141,788,906 |
|
Current
Assets |
18,633,029,772 |
17,940,314,795 |
15,975,576,269 |
|
Cash
& Cash Equivalents |
3,629,637,245 |
1,799,229,091 |
1,681,269,539 |
|
Current
Financial Instruments |
2,567,698,735 |
2,850,000,000 |
7,600,000,000 |
|
Trade
Receivables & Other Receivables |
3,307,636,815 |
4,340,572,816 |
3,824,871,398 |
|
Inventories |
2,753,993,913 |
2,605,413,119 |
2,125,350,826 |
|
Short-Term
Receivables |
5,113,729,702 |
5,099,466,858 |
3,885,600 |
|
Marketable
Financial Instruments |
703,547,917 |
715,201,374 |
|
|
Deferred
Income Tax Assets |
49,338,260 |
44,464,370 |
36,889,530 |
|
Other
Current Assets |
507,447,185 |
485,967,167 |
703,309,376 |
|
Non-Current
Assets |
15,947,478,141 |
16,818,392,120 |
18,166,212,637 |
|
Marketable
Financial Instruments |
1,525,024,591 |
1,753,516,740 |
1,593,815,189 |
|
Investment_Real
Estates |
190,101,437 |
191,090,789 |
195,048,199 |
|
Tangibles |
8,934,969,340 |
8,957,443,531 |
9,529,955,530 |
|
Intangibles |
4,082,275,639 |
4,142,368,368 |
5,100,738,526 |
|
Non-Current
Financial Instruments |
|
|
18,853,600 |
|
Deferred
Income Tax Assets |
844,753,134 |
1,103,618,692 |
1,167,447,593 |
|
Other
Non-Current Assets |
370,354,000 |
670,354,000 |
560,354,000 |
|
Total
Liabilities |
4,623,915,376 |
4,422,726,783 |
4,218,105,408 |
|
Current
Liabilities |
2,922,610,437 |
2,748,720,574 |
3,309,419,837 |
|
Trade
Payables & Other Payables |
1,685,677,670 |
2,088,848,401 |
2,006,765,787 |
|
Short-Term
Borrowings |
|
|
116,145,799 |
|
Other
Current Financial Debts |
|
24,000,000 |
431,629,800 |
|
Provision
for Sales Guarantee |
43,549,522 |
48,638,088 |
45,355,060 |
|
Other
Current Non-Financial Debts |
1,193,383,245 |
587,234,085 |
709,523,391 |
|
Non-Current
Liabilities |
1,701,304,939 |
1,674,006,209 |
908,685,571 |
|
Long-Term
Borrowings |
900,000,000 |
900,000,000 |
|
|
Other
Non-Current Liabilities |
98,505,120 |
92,697,458 |
83,743,071 |
|
Provision
for Severance & Retirement |
702,799,819 |
681,308,751 |
824,942,500 |
|
Capital
Stock |
3,730,618,500 |
3,730,618,500 |
3,730,618,500 |
|
Capital
Surplus |
13,535,575,627 |
13,535,575,627 |
13,535,575,627 |
|
Others |
-3,127,482,442 |
-2,195,181,177 |
-1,175,433,234 |
|
Installments |
-37,478,737 |
-50,011,404 |
20,383,205 |
|
Profit
Surplus |
15,855,359,589 |
15,314,978,586 |
13,812,539,400 |
|
Total
Equity |
29,956,592,537 |
30,335,980,132 |
29,923,683,498 |
|
Liab.
& Shareholder’s Equity |
34,580,507,913 |
34,758,706,915 |
34,141,788,906 |
|
Income Statement |
|||
|
Unit : Korean
Won |
01/01/2014~03/31/2014 |
As of
12/31/2013 |
As of
12/31/2012 |
|
Sales |
6,298,478,863 |
20,137,820,915 |
18,774,371,846 |
|
Cost
of Sold Goods |
1,477,153,838 |
5,074,497,058 |
4,579,226,056 |
|
Gross
Profit |
4,821,325,025 |
15,063,323,857 |
14,195,145,790 |
|
Selling
& Admin. Expenses |
3,328,646,837 |
12,915,676,040 |
13,985,998,609 |
|
Operating
Income |
1,492,678,188 |
2,147,647,817 |
209,147,181 |
|
Other
Income |
33,598,547 |
987,305,568 |
1,018,877,170 |
|
Other
Expenses |
69,779,620 |
1,497,079,758 |
1,121,743,745 |
|
Finance
Income |
77,588,708 |
347,400,071 |
391,412,429 |
|
Finance
Expenses |
15,928,598 |
37,230,050 |
61,052,433 |
|
Income
Before Taxes |
1,518,157,225 |
1,948,043,648 |
436,640,602 |
|
Income
Taxes Expenses |
252,368,285 |
52,994,115 |
-211,122,325 |
|
Net
Income |
1,265,788,940 |
1,895,049,533 |
647,762,927 |
|
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 |
2,093,267,922 |
2,371,250,678 |
564,344,700 |
|
Net
Income |
1,265,788,940 |
1,895,049,533 |
647,762,927 |
|
Adjustment |
797,044,960 |
194,133,374 |
-340,492,590 |
|
Interests
Received |
35,017,993 |
318,228,759 |
269,829,108 |
|
Interests
Paid |
-4,583,971 |
-10,886,088 |
-7,899,985 |
|
Income
Taxes |
|
-25,274,900 |
-4,854,760 |
|
Cash
Flows from Investing |
683,740,706 |
-1,154,473,313 |
-1,024,056,054 |
|
Cash
Flows from Financing |
-950,493,603 |
-1,092,867,057 |
-514,285,488 |
|
Increase/Decrease
in Cash |
1,830,408,154 |
117,959,552 |
-976,663,323 |
|
Cash
at the Beginning of Year |
1,799,229,091 |
1,681,269,539 |
2,657,932,862 |
|
Cash
at the End of Year |
3,629,637,245 |
1,799,229,091 |
1,681,269,539 |
Products,
Technologies, Services Description
|
Main Products
& Services |
Atopic Moisturizer, Alternative Industrial Cleanser |
|
Detailed
Products Spec. |
|
|
Technologies
Acquired |
|
Trade Partners & Competitors
|
Suppliers |
|
|
Customers |
|
|
Competitors |
HANBUL
COSMETICS CO., LTD. 249, NONHYEON
2-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-3450-0114 FAX:+82-2-565-2125 BLUEBELL KOREA
LTD. 5TH FL., BAEGANG
BLDG., 666-14, SINSA-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-3444-2203 FAX:+82-2-3445-9377 COMMERCE
PLANET CO., LTD. 8TH FL.,
SEONGMUGWAN BLDG., 370-1, SINDAEBANG 2-DONG, DONGJAK-GU, SEOUL, KOREA TEL:+82-70-7400-3000 FAX:+82-2-3217-8407 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
AEKYUNG INDUSTRIAL CO., LTD.(110111-0398275) AEKYUNG CHEMICAL CO., LTD.(110111-0293011) AEKYUNG CO., LTD.(110111-0028575) AEKYUNG PETROCHEMICAL CO., LTD.(110111-4951243) ATEC CO., LTD.(110111-0954374) KOSPA CORP.
(154511-0002686) AEKYUNG
DEVELOPMENT CO., LTD. (134211-0002321) AEKYUNG
PNT(134811-0002600) JS AVIATION CO., LTD.(120111-0562993) AM PLUS PFV GANGNAM CO., LTD.(110111-4726638) AK CHEMTECH
CO., LTD.(160111-0004541) ARD INC.(131311-0029384) ADMISSION CO.,
LTD.(110111-2681751) JEJU AIR CO.,
LTD.(220111-0050575) AEKYUNG S.T.
CO., LTD.(110111-3624122) |
|
Overseas
Office |
|
|
Liaison Office |
|
|
Overseas
Branch |
|
|
Joint Venture |
|
|
Subsidiary |
|
|
Corporate
Ownership |
|
|
Major
Shareholders |
|
|
Cooperative
Enterprise |
|
Sales by Region
(Activity & Markets)
|
Sales/ Unit
:Mil KRW |
03/2014 |
2013 |
2012 |
|
Export |
643 |
2,056 |
2,121 |
|
Domestic |
5,655 |
18,082 |
16,653 |
|
Total |
6,298 |
20,138 |
18,774 |
The Subject
exports to Taiwan, Russia, USA, UK, Australia, Japan, China, Poland, France and
Hong Kong.
Court Action
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.10 |
|
|
1 |
Rs.102.40 |
|
Euro |
1 |
Rs.81.88 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.