|
Report Date : |
29.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
WOOGENE B&G CO., LTD. |
|
|
|
|
Registered Office : |
230, Jeongmunsongsan-ro, Yanggam-myeon, Hwaseong-si, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
30.06.2014 |
|
|
|
|
Date of Incorporation : |
17.12.1985 |
|
|
|
|
Com. Reg. No.: |
124-81-14283 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Animal Medicaments |
|
|
|
|
No. of Employees : |
90 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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. 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 |
WOOGENE B&G CO., LTD. (Korean Company name : “우진비앤지(주”) |
|
Registered
Address |
230, Jeongmunsongsan-ro, Yanggam-myeon, Hwaseong-si, Gyeonggi-do, Korea (Old Address System : 528-5, Songsan-ri, Yanggam-myeon,
Hwaseong-si, Gyeonggi-do, Korea) |
|
Building |
|
|
Zip Code |
445-933 |
|
Tel |
+82-31-352-0185 |
|
Fax |
+82-31-352-1488 |
|
E-mail |
hankuk@woogenebng.com |
|
Website |
www.woogenebng.com |
|
Trading Address |
1-1504, Ace Hightech City, 775, Gyeongin-ro, Yeongdeungpo-gu, Seoul, Korea (Old Address System : 1-1504, Ace Hightech City, 55-20, Mullaedong 3-ga, Yeongdeungpo-gu, Seoul, Korea) |
|
Tel |
+82-2-795-2361 |
|
Fax |
+82-2-797-9863 |
|
Other Address |
|
|
Tel |
|
|
Fax |
|
|
Type |
Export |
|
Industry |
Manufacture of Animal Medicaments |
|
Main Business |
Water Soluble Powder, Liquid Preparation, Injectable, Amino
acid/Vitamin Feed Supplements, Vitamin/Mineral Water Soluble Powder,
Anthelmintic, Vaccine, Liquid Preparation, Anticoccidials, Hormone for Swine,
Feed Additive, Formula Feed |
|
Sub Business |
Manufacture of Livestock Feeds and Prepared Animal Feeds |
|
Established
(mm/dd/yyyy) |
12/17/1985 |
Detailed Products
|
Activity |
Detailed
Products (UNSPSC) |
|
Sell |
Pneumococcal vaccine(51201615) |
|
Sell |
Veterinary antibiotics(51102600) |
|
Sell |
Formulas and products
for nutritional support(42231800) |
|
Sell |
Biochemicals(12352200) |
|
Buy |
Spray dryers(23201201) |
|
Buy |
Batch mixers(23191000) |
|
Buy |
Chlortetracycline(51101559) |
|
Buy |
Antibiotics(51101500) |
|
Buy |
Tanks and cylinders and their accessories(24111800) |
|
Buy |
Tablet crushers or accessories(42232001) |
|
Buy |
Reactors or fermenters or digesters(23151804) |
|
Buy |
Freezedryers or lyophilzers(23151807) |
|
Buy |
Wrapping machinery(23152901) |
|
Buy |
Penicillin(51101507) |
CEO’s
|
Name |
Kang Seog-Jin |
|
Address |
|
|
Date of Birth |
01/16/1943 |
|
Title |
Chairman & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
2,420,000,000 |
||||||||||||||||||||||||
|
Employees |
90 |
||||||||||||||||||||||||
|
Formation |
Listed Company (KOSDAQ : 018620) as of 05/20/2008 |
||||||||||||||||||||||||
|
Bank Details |
Korea
Development Bank Industrial
Bank of Korea-Insa Dong Branch |
||||||||||||||||||||||||
|
Corporate
Registered No. |
124311-0014409 |
||||||||||||||||||||||||
|
Business
Registered No. |
124-81-14283 |
||||||||||||||||||||||||
|
Permit &
Licenses |
10/2007 BGMP 12/05/2006 ISO 14001 Int’l Trade No.: 946391 |
||||||||||||||||||||||||
|
Shareholder
Position |
|
||||||||||||||||||||||||
|
Company
History |
11/1977 Established as KWAHAK INT’L CO.(Sole Proprietorship) 12/17/1985 Incorporated as KWAHAK INT’L CO., LTD. 11/01/1996 Changed
company name to WOOGENE CO., LTD. 03/20/2001
Changed company name to the present name 11/2007 Designated as an INNO-BIZ Company 11/2009 Awarded US$ 1 Million Export Top Prize 11/2012
Awarded US$ 5 Million Export Top Prize |
||||||||||||||||||||||||
|
|
|
Management
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Date of Birth |
|
Chairman & CEO |
Mr. |
Kang Seog-Jin |
Male |
Korean |
1943.01.16 |
|
President & CEO |
Mr. |
Kang Jae-Koo |
Male |
Korean |
1970.01. |
|
Vice President |
Mr. |
Yang
Kyung-Duck |
Male |
Korean |
1953.10. |
|
Auditor |
Mr. |
Lee Sang-Young |
Male |
Korean |
1941.11. |
|
Outside Director |
Mr. |
Kim Jung-Tae |
Male |
Korean |
1955.09. |
|
Year / Unit :
KRW |
Sales |
Assets |
Net Income |
|
(*)06/2014 |
11,301,889,520 |
28,241,922,046 |
386,455,037 |
|
(*)2013 |
20,545,996,532 |
27,386,774,448 |
606,352,505 |
|
(*)2012 |
21,267,393,108 |
26,176,413,929 |
1,275,859,203 |
|
2011 |
18,055,021,549 |
25,805,015,487 |
731,633,941 |
|
2010 |
19,193,556,874 |
26,403,978,931 |
1,219,241,225 |
(*)Figures are based on the K-IFRS
Accounting System.
Financial Description
|
Authorized
Capital(KRW) |
10,000,000,000 |
|
Paid-Up
Capital(KRW) |
2,420,000,000 |
|
Total Issued
Shares |
4,840,000 |
|
Balance Sheet |
|||
|
Unit : Korean
Won |
01/01/2014~06/30/2014 |
As of
12/31/2013 |
As of
12/31/2012 |
|
Total
Assets |
28,241,922,046 |
27,386,774,448 |
26,176,413,929 |
|
Current
Assets |
12,783,639,806 |
11,732,457,953 |
11,819,578,776 |
|
Cash
& Cash Equivalents |
731,961,527 |
280,635,415 |
622,395,592 |
|
National Subsidies |
-32,686,667 |
-17,738,499 |
0 |
|
Current
Financial Instruments |
507,800,000 |
279,292,153 |
853,183,424 |
|
Held-to-Maturity
Financial Assets |
11,915,000 |
11,915,000 |
5,200,000 |
|
Trade Receivables |
3,463,733,583 |
4,360,205,681 |
3,504,624,084 |
|
Other Receivables |
0 |
930,173 |
1,247,230 |
|
Unearned Income |
37,731,149 |
23,561,948 |
31,621,857 |
|
Advance
Payments |
149,047,906 |
28,969,054 |
35,082,652 |
|
Prepaid
Expenses |
32,791,603 |
21,567,141 |
22,195,952 |
|
Accrued Income Tax |
40,155,526 |
13,362,663 |
0 |
|
Deferred
Income Tax Assets |
3,430,040 |
54,734,718 |
0 |
|
Inventories |
7,837,760,139 |
6,675,022,506 |
6,744,027,985 |
|
Non-Current
Assets |
15,458,282,240 |
15,654,316,495 |
14,356,835,153 |
|
Non-Current
Financial Instruments |
852,451,285 |
1,050,247,615 |
416,723,042 |
|
Marketable
Financial Instruments |
15,000,000 |
15,000,000 |
109,329,329 |
|
Held-to-Maturity
Financial Assets |
14,440,000 |
14,440,000 |
26,355,000 |
|
Long-Term Trade Receivables |
19,000 |
19,000 |
19,000 |
|
Tangibles |
14,224,791,489 |
14,261,130,435 |
13,647,240,915 |
|
Intangibles |
133,719,138 |
138,610,484 |
142,255,533 |
|
Guarantee Deposit |
211,800,373 |
166,023,658 |
14,912,334 |
|
Leasehold Deposit Received |
6,060,955 |
8,845,303 |
0 |
|
Total
Liabilities |
9,013,444,064 |
8,395,861,764 |
7,620,391,766 |
|
Current
Liabilities |
5,760,709,159 |
6,490,077,093 |
5,759,932,731 |
|
Trade Payables |
1,519,235,665 |
1,160,922,168 |
1,520,142,565 |
|
Short-Term
Borrowings |
3,237,244,818 |
4,369,794,081 |
3,300,000,000 |
|
Account
Payables |
242,951,468 |
244,285,955 |
250,762,965 |
|
Advance
Receipts |
13,119,900 |
1,720,834 |
88,000 |
|
Withholdings |
48,793,550 |
40,999,870 |
31,406,280 |
|
Accrued
Expenses |
528,215,941 |
336,412,774 |
154,908,965 |
|
Deferred
Income Tax Credit |
0 |
0 |
109,458,490 |
|
Current
Portion of Long-Term Debts |
143,000,000 |
293,000,000 |
293,000,000 |
|
VAT
Withhold |
0 |
0 |
49,856,624 |
|
Provisions for Refund |
28,147,817 |
42,941,411 |
50,308,842 |
|
Non-Current
Liabilities |
3,252,734,905 |
1,905,784,671 |
1,860,459,035 |
|
Long-Term
Borrowings |
1,500,000,000 |
71,500,000 |
364,500,000 |
|
Provision
for Severance & Retirement |
1,150,531,440 |
1,183,213,633 |
695,249,963 |
|
Deferred
Income Tax Credit |
602,203,465 |
651,071,038 |
800,709,072 |
|
Capital
Stock |
2,420,000,000 |
2,200,000,000 |
2,000,000,000 |
|
Capital
Surplus |
4,926,041,231 |
4,926,041,231 |
4,912,633,830 |
|
Capital
Adjustment |
-499,304,549 |
-497,354,762 |
-502,035,830 |
|
Others |
0 |
0 |
3,376,877 |
|
Profit
Surplus |
12,381,741,300 |
12,362,226,215 |
12,142,047,286 |
|
Total
Equity |
19,228,477,982 |
18,990,912,684 |
18,556,022,163 |
|
Liab.
& Shareholder’s Equity |
28,241,922,046 |
27,386,774,448 |
26,176,413,929 |
|
Income Statement |
|||
|
Unit : Korean
Won |
01/01/2014~06/30/2014 |
As of
12/31/2013 |
As of
12/31/2012 |
|
Sales |
11,301,889,520 |
20,545,996,532 |
21,267,393,108 |
|
Cost of Sold Goods |
7,110,017,949 |
14,055,524,911 |
14,171,391,497 |
|
Gross Profit |
4,191,871,571 |
6,490,471,621 |
7,096,001,611 |
|
Selling & Admin. Expenses |
3,634,409,140 |
5,721,465,427 |
5,308,032,269 |
|
Operating Income |
557,462,431 |
769,006,194 |
1,787,969,342 |
|
Other Income |
49,749,360 |
62,736,229 |
110,064,414 |
|
Finance Income |
17,022,403 |
90,979,738 |
45,082,349 |
|
Other Expenses |
145,850,254 |
195,112,832 |
269,074,034 |
|
Finance Expenses |
99,351,874 |
182,066,184 |
228,232,390 |
|
Income Before Taxes |
379,032,066 |
545,543,145 |
1,445,809,681 |
|
Income Taxes Expenses |
-7,422,971 |
-60,809,360 |
169,950,478 |
|
Net Income |
386,455,037 |
606,352,505 |
1,275,859,203 |
|
Cash Flows |
|||
|
Unit : Korean
Won |
01/01/2014~06/30/2014 |
As of
12/31/2013 |
As of
12/31/2012 |
|
Operating Activities Cash Flows |
803,513,344 |
364,514,872 |
2,080,489,114 |
|
Cash Flows from Operating |
844,909,290 |
657,207,326 |
2,256,295,928 |
|
Net Income |
386,455,037 |
606,352,505 |
1,275,859,203 |
|
Adjustment |
707,423,927 |
1,133,100,116 |
1,392,235,642 |
|
Changes in Asset/ & Liability |
-248,969,674 |
-1,082,245,295 |
-411,798,917 |
|
Interests Received |
76,487 |
92,835,524 |
6,699,596 |
|
Interests Paid |
-92,777,111 |
-183,377,637 |
-210,060,921 |
|
Income Taxes |
51,304,678 |
-202,150,341 |
27,554,511 |
|
Cash
Flows from Investing |
-471,043,389 |
-1,498,588,256 |
-906,245,202 |
|
Cash Inflow from Investing |
273,880,698 |
708,714,743 |
458,028,958 |
|
Cash Outflows for Investing |
-744,924,087 |
-2,207,302,999 |
-1,364,274,160 |
|
Cash
Flows from Financing |
144,000,950 |
798,664,124 |
-1,078,332,820 |
|
Cash Inflows from Financing |
3,518,244,818 |
4,264,752,406 |
8,400,000,000 |
|
Cash Outflows from Financing |
-3,374,243,868 |
-3,466,088,282 |
-9,478,332,820 |
|
Increase/Decrease in Cash |
451,326,112 |
-341,760,177 |
68,373,691 |
|
Cash at the Beginning of Year |
280,635,415 |
622,395,592 |
554,021,901 |
|
Cash at the End of Year |
731,961,527 |
280,635,415 |
622,395,592 |
Products,
Technologies, Services Description
|
Main Products
& Services |
Water Soluble Powder, Liquid Preparation, Injectable, Amino
acid/Vitamin Feed Supplements, Vitamin/Mineral Water Soluble Powder,
Anthelmintic, Vaccine, Liquid Preparation, Anticoccidials, Hormone for Swine,
Feed Additive, Formula Feed |
|
Detailed
Products Spec. |
|
|
Technologies
Acquired |
|
Trade Partners &
Competitors
|
Suppliers |
|
|
Customers |
|
|
Competitors |
WOOSUNG CO.,
LTD. 33-19,
TOYANG-RI, EUNJIN-MYEON, NONSAN-SI, CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-741-7836~40 FAX:+82-41-742-6205 GREEN CROSS
VETERINARY PRODUCTS CO., LTD. SINAM NONGGONG
DANJI, 254, DUGOK-RI, SINAM-MYEON, YESAN-GUN, CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-332-6346~7 FAX:+82-41-332-6348 VIXXOL
CORPORATION 220-10, ANYANG
7-DONG, MANAN-GU, ANYANG-SI, GYEONGGI-DO, KOREA TEL:+82-31-467-6767 FAX:+82-31-468-1502 |
Sales by Region
(Activity & Markets)
|
Sales/ Unit
:Thousand KRW |
06/2014 |
2013 |
2012 |
|
Export |
3,545,646 |
7,557,854 |
6,901,481 |
|
Domestic |
7,756,244 |
12,988,143 |
14,365,912 |
|
Total |
11,301,890 |
20,545,997 |
21,267,393 |
The Subject
exports to Malaysia, Vietnam, China, Middle East, Thailand, Pakistan and
Philippines.
Court Action
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.25 |
|
|
1 |
Rs.98.93 |
|
Euro |
1 |
Rs.77.92 |
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.