|
Report Date : |
12.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
CHONG KUN DANG PHARMACEUTICAL CORP. |
|
|
|
|
Registered Office : |
368, Chungjeongno 3-ga, Seodaemun-gu, Seoul, Korea
Chongkundang Bldg |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
05.11.2013 |
|
|
|
|
Com. Reg. No.: |
110-86-08069 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Finished Medicaments such as Antipyretic,
Digestive, Antibiotic |
|
|
|
|
No. of Employees : |
1,650 |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
-- |
NB |
New Business |
-- |
|
Status : |
New Business |
|
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 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 |
Basic
|
Company Name |
CHONG KUN DANG PHARMACEUTICAL CORP. (Trade Name : CKD Pharm) (Korean Company Name : “(주)종근당”) |
|
Registered
Address |
368, Chungjeongno 3-ga, Seodaemun-gu, Seoul, Korea |
|
Building |
Chongkundang Bldg. |
|
Zip Code |
120-756 |
|
Tel |
+82-2-2194-0300 |
|
Fax |
+82-2-2194-0417 |
|
E-mail |
webmaster@ckdpharm.com;ckdexport@ckdpharm.com;intl@ckdbio.com |
|
Website |
www.ckdpharm.com |
|
Trading Address |
Chongkundang Bldg., 8, Chungjeong-ro, Seodaemun-gu, Seoul, Korea (Old Address System : Chongkundang Bldg., 368, Chungjeongno 3-ga, Seodaemun-gu, Seoul, Korea) |
|
Tel |
+82-2-2194-0300 |
|
Fax |
+82-2-2194-0417 |
|
Other Address |
|
|
Tel |
|
|
Fax |
|
|
Type |
Export/Import |
|
Industry |
Manufacture of Finished Medicaments |
|
Main Business |
Antipyretic, Digestive, Antibiotic |
|
Sub Business |
|
|
Established
(mm/dd/yyyy) |
11/05/2013 |
Detailed Products
|
Activity |
Detailed
Products (UNSPSC) |
|
Sell |
Antibiotics(51101500) |
|
Sell |
Antihistamines or H1 blockers(51161600) |
|
Sell |
Immunosuppressants(51201500) |
|
Sell |
Dietary supplements and nutritional therapy products(51191900) |
|
Sell |
Drugs affecting the gastrointestinal system(51170000) |
|
Sell |
Antispasmodics(51172100) |
|
Sell |
Non narcotic analgesics and antipyretics(51142000) |
|
Sell |
Anthelmintics and other antiparasitics(51101700) |
|
Buy |
Flavours or extracts(12164502) |
|
Buy |
Antiseptics(51102700) |
|
Buy |
Cyclosporine(51201502) |
|
Buy |
Menthol(51161803) |
CEO’s
|
Name |
Kim Kyu-Don |
|
Address |
Suite 103-303,
121, Jungang-ro, Guro-gu, Seoul, Korea |
|
Date of Birth |
07/09/1958 |
|
Title |
Co-President
& CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
23,522,625,000 |
||||||||||||||||||
|
Employees |
1,650 |
||||||||||||||||||
|
Formation |
Listed Company (Korea Stock Exchange : 185750) as of 12/06/2013 Foreign Direct Investment Corporation A Company of CHONG KUN DANG |
||||||||||||||||||
|
Bank Details |
Woori
Bank-Ahyeon-Station Branch Shinhan Bank |
||||||||||||||||||
|
Corporate
Registered No. |
110111-5260669 |
||||||||||||||||||
|
Business
Registered No. |
110-86-08069 |
||||||||||||||||||
|
Permit &
Licenses |
Int’l Trade No.: 690104 |
||||||||||||||||||
|
Shareholder
Position |
|
||||||||||||||||||
|
Company
History |
11/05/2013
Incorporated as the present name after spin off from CHONGKUNDANG HOLDINGS
CORP.(110111-0028955) |
||||||||||||||||||
|
|
|
Management
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
Co-President & CEO |
Mr. |
Kim Kyu-Don |
Male |
Korean |
11/05/2013 |
|
Co-President & CEO |
Mr. |
Kim Jung-Woo |
Male |
Korean |
11/05/2013 |
|
Director |
Mr. |
Ha Seung-Ho |
Male |
Korean |
11/05/2013 |
|
Director |
Mr. |
Kim Sung-Ki |
Male |
Korean |
11/05/2013 |
|
Director |
Mr. |
Kim Kwang-Jong |
Male |
Korean |
11/05/2013 |
|
Outside Director |
Mr. |
Lee Jong-Yoon |
Male |
Korean |
11/05/2013 |
|
Outside Director |
Mr. |
Oh Dae-Kyu |
Male |
Korean |
11/05/2013 |
|
Auditor |
Mr. |
Lee Sang-Soo |
Male |
Korean |
11/05/2013 |
|
Supervisor of HQ Office |
Mr. |
Kim Seung-Bae |
Male |
Korean |
11/05/2013 |
|
Supervisor of HQ Office |
Mr. |
Kim Soo-Hyun |
Male |
Korean |
11/05/2013 |
Financials
|
Year / Unit :
KRW |
Sales |
Assets |
Net Income |
|
2013 |
86,318,151,855 |
521,951,175,416 |
4,416,973,917 |
|
Authorized
Capital(KRW) |
100,000,000,000 |
|
Paid-Up
Capital(KRW) |
23,522,625,000 |
|
Total Issued
Shares |
9,409,050 |
|
Balance Sheet |
|||
|
Unit : Korean
Won |
As of 12/31/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Total
Assets |
521,951,175,416 |
|
|
|
Current
Assets |
255,302,621,390 |
|
|
|
Cash
& Cash Equivalents |
13,156,596,816 |
|
|
|
Current
Financial Instruments |
3,120,000,000 |
|
|
|
Trade
Receivables |
150,136,651,406 |
|
|
|
Other
Receivables |
10,235,643,555 |
|
|
|
Guarantees |
3,228,881,036 |
|
|
|
Advance
Payments |
1,131,143,504 |
|
|
|
Prepaid
Expenses |
2,895,261,765 |
|
|
|
Other
Current Assets |
243,024,636 |
|
|
|
Inventories |
71,155,418,672 |
|
|
|
Non-Current
Assets |
266,648,554,026 |
|
|
|
Non-Current
Financial Instruments |
1,699,495,550 |
|
|
|
Marketable
Financial Instruments |
7,357,516,397 |
|
|
|
Guarantees |
2,767,220,352 |
|
|
|
Tangibles |
214,686,281,836 |
|
|
|
Investment_Real
Estates |
22,230,331,217 |
|
|
|
Intangibles |
17,833,608,674 |
|
|
|
Other
Investment |
74,100,000 |
|
|
|
Total
Liabilities |
223,827,499,962 |
|
|
|
Current
Liabilities |
130,853,061,958 |
|
|
|
Trade Payables |
34,407,243,967 |
|
|
|
Account
Payables |
13,917,120,439 |
|
|
|
Short-Term
Borrowings |
63,567,000,000 |
|
|
|
Unearned Income |
308,207,102 |
|
|
|
Withholdings |
1,384,609,061 |
|
|
|
VAT
Withhold |
3,556,604,171 |
|
|
|
Guarantees |
1,173,124,872 |
|
|
|
Accrued
Expenses |
6,971,669,731 |
|
|
|
Deferred
Income Tax Credit |
165,491,637 |
|
|
|
Finance Guarantee Debts |
68,325,978 |
|
|
|
Provisions |
5,333,665,000 |
|
|
|
Non-Current
Liabilities |
92,974,438,004 |
|
|
|
Long-Term
Borrowings |
61,000,000,000 |
|
|
|
Long-Term
Account Payables |
9,562,832,114 |
|
|
|
Guarantees |
113,721,976 |
|
|
|
Deferred
Income Tax Credit |
6,954,490,489 |
|
|
|
Confirmed
Salaries |
15,343,393,425 |
|
|
|
Capital
Stock |
23,522,625,000 |
|
|
|
Capital
Surplus |
270,999,055,015 |
|
|
|
Others |
145,136,822 |
|
|
|
Profit
Surplus |
3,456,858,617 |
|
|
|
Total
Equity |
298,123,675,454 |
|
|
|
Liab.
& Shareholder’s Equity |
521,951,175,416 |
|
|
|
Income Statement |
|||
|
Unit : Korean
Won |
As of
12/31/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Sales |
86,318,151,855 |
|
|
|
Cost
of Sold Goods |
-40,086,525,014 |
|
|
|
Gross
Profit |
46,231,626,841 |
|
|
|
Selling
& Admin. Expenses |
-38,692,654,234 |
|
|
|
Operating
Income |
7,538,972,607 |
|
|
|
Finance
Income |
60,322,900 |
|
|
|
Finance
Expenses |
-968,532,222 |
|
|
|
Non-Operating
Income |
674,369,018 |
|
|
|
Non-Operating
Expenses |
-1,297,722,085 |
|
|
|
Income
Before Taxes |
6,007,410,218 |
|
|
|
Income
Taxes Expenses |
-1,590,436,301 |
|
|
|
Net
Income |
4,416,973,917 |
|
|
|
Cash Flows |
|||
|
Unit : Korean
Won |
As of
12/31/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Operating
Activities Cash Flows |
9,959,708,946 |
|
|
|
Cash
Flows from Operating |
10,890,634,838 |
|
|
|
Net
Income |
4,416,973,917 |
|
|
|
Adjustment |
6,047,327,352 |
|
|
|
Changes
in Asset/ & Liability |
426,333,569 |
|
|
|
Interests
Received |
29,076,998 |
|
|
|
Interests
Paid |
-956,088,900 |
|
|
|
Income
Taxes |
-3,913,990 |
|
|
|
Cash
Flows from Investing |
-2,391,427,469 |
|
|
|
Cash
Inflow from Investing |
175,094,300 |
|
|
|
Cash
Outflows for Investing |
-2,566,521,769 |
|
|
|
Cash
Flows from Financing |
-383,616,000 |
|
|
|
Cash
Inflows from Financing |
|
|
|
|
Cash
Outflows from Financing |
-383,616,000 |
|
|
|
Increase/Decrease
in Cash |
7,184,665,477 |
|
|
|
Cash
at the Beginning of Year |
5,989,147,965 |
|
|
|
Cash
at the End of Year |
13,156,596,816 |
|
|
Products,
Technologies, Services Description
|
Main Products
& Services |
Antipyretic,
Digestive, Antibiotic Anthelmintics Antibiotics Antihistamines
or H1 blockers Antispasmodics Cipol-N Soft Caps Cyclosporine Digestives Drugs used for
respiratory tract disorders Extract Glycyrrhiza
extract Hair care
supplies Insecticides
and insect control traps Menthol Non narcotic
analgesics and antipyretics Nutritious
foods and drugs Spray
insecticides Tincture |
|
Detailed
Products Spec. |
|
|
Technologies
Acquired |
|
Trade Partners &
Competitors
|
Suppliers |
ROCHE KYONGBO PHARM Co., Ltd.(164811-0001961) |
|
Customers |
|
|
Competitors |
DONGA
PHARMACEUTICAL CO., LTD.(110111-0017990) YUHAN CORPORATION(110111-0014409) HANMI PHAM
CO., LTD.(134811-0003187) GREEN CROSS
CORPORATION(110111-0109854) |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
CHONG KUN DANG HOLDINGS CO., LTD.(110111-0028955) CHONG KUN DANG
INDUSTRIES CO., LTD.(110111-0253437) KYONGBO PHARM CO., LTD.(164811-0001961) BELLCOM CO.,
LTD.(110111-2261339) CHONGKUNDANG
HEALTH CARE CO., LTD.(135011-0049540) CKD VENTURE
CAPITAL CORPORATION(160111-0065098) CKD BIO
CORPORATION(110111-2373308) KOREA HINET
CO., LTD. (110111-0892136) BELL SMS CO.,
LTD.(110111-3483841) CKD LIVING
CO., LTD.(110111-3667049) BELL I&S
CO., LTD.(110111-3895913) BELL SM CO., LTD.(110111-3483841) BELL E&C CO., LTD.(EX. ANSUNG PRECISION MACHINERY CO., LTD : 134811-0013673) |
|
Overseas
Office |
|
|
Liaison Office |
|
|
Overseas
Branch |
|
|
Joint Venture |
|
|
Subsidiary |
|
|
Corporate
Ownership |
|
|
Major
Shareholders |
|
|
Cooperative
Enterprise |
|
Sales by Region
(Activity & Markets)
The Subject deals
with the companies in China, Japan, Pakistan, Vietnam and Guatemala.
Court Action
There are 4
cases filed as Defendant(s)/ Debtor(s)/ Respondent(s) amounting 1,312,842,000 KRW.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.70 |
|
|
1 |
Rs.100.97 |
|
Euro |
1 |
Rs.84.16 |
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.