|
Report No. : |
356173 |
|
Report Date : |
19.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
HWAIL PHARM.
CO., LTD. |
|
|
|
|
Registered Office : |
57, Jeyakgongdan 3-gil, Hyangnam-eup, Hwaseong-si, Gyeonggi-do, Korea
18622 |
|
|
|
|
Country : |
South
Korea |
|
|
|
|
Financials (as on) : |
30.09.2015 |
|
|
|
|
Date of Incorporation : |
18.11.1980 |
|
|
|
|
Com. Reg. No.: |
124-81-27624 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Medicinal Chemicals and Antibiotics. |
|
|
|
|
No. of Employees : |
141 |
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, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 economic 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. A system of close government and
business ties, including directed credit and import restrictions, initially
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 7%
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 over 6%
growth in 2010. The US-Korea Free Trade Agreement was ratified by both governments
in 2011 and went into effect in March 2012. Between 2012 and 2014, the economy
experienced slow growth due to sluggish domestic consumption and investment.
The administration in 2015 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 the heavy reliance on exports, which comprise about half of
GDP. In an effort to address the long term challenges and sustain economic
growth, the current government has prioritized structural reforms,
deregulation, promotion of entrepreneurship and creative industries, and the
competitiveness of small and medium enterprises.
|
Source
: CIA |
|
Company Name |
HWAIL PHARM.
CO., LTD. (English Name : HWAIL
PHARMACEUTICAL CO., LTD.) |
|
Registered Address |
57, Jeyakgongdan 3-gil, Hyangnam-eup, Hwaseong-si, Gyeonggi-do, Korea (Old Address System : 904-7, Sangsin-ri,
Hyangnam-eup, Hwaseong-si, Gyeonggi-do, Korea) |
|
Building |
|
|
Zip Code |
18622 |
|
Tel |
+82-31-353-4101 |
|
Fax |
+82-31-353-9219 |
|
E-mail |
hwail@hwail.co.kr;james@hwail.com |
|
Website |
www.hwail.com |
|
Trading Address |
5FL., C-Korea Bio Park, 700,
Daewangpangyo-ro, Bundang-gu, Seongnam-si, Gyeonggi-do, Korea (Old Address System : 5FL., C-Korea Bio
Park, 694-1, Sampyeong-dong, Bundang-gu, Seongnam-si,
Gyeonggi-do, Korea) |
|
Tel |
+82-2-512-2592 |
|
Fax |
+82-2-511-6954 |
|
Other Address |
454-3, Mongnae-dong, Danwon-gu, Ansan-si,
Gyeonggi-do, Korea |
|
Tel |
+82-31-491-4042 |
|
Fax |
+82-31-491-4045 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Medicinal Chemicals and Antibiotics |
|
Main Business |
Pharmaceutical Raw Materials, Analgesics, Food Additives |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
11/18/1980 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Formulas and products for nutritional
support(42231800) |
|
Sell |
Herbal drugs(51212000) |
|
Sell |
Shelf stable vegetables(50101540) |
|
Sell |
Cereal flour(50221102) |
|
Sell |
Mushrooms or fungi(50101541) |
|
Name |
Cho Jung-Myung |
|
Address |
Suite B-4601, 212, Olympic-ro, Songpa-gu,
Seoul, Korea |
|
Date of Birth |
12/15/1948 |
|
Title |
Chairman & CEO |
|
Nationality |
Korean |
|
Capital (KRW) |
7,205,479,000 |
||||||||||||||||||
|
Employees |
141 |
||||||||||||||||||
|
Formation |
Listed Company (KOSDAQ:061250) as of 04/17/2002 |
||||||||||||||||||
|
Bank Details |
Citibank, Korea-Yeoksam Station Branch KEB Hana Bank-Dogokro Branch Industrial Bank of Korea-Seocho Nam Branch Shinhan Bank |
||||||||||||||||||
|
Corporate Registered No. |
134411-0000719 |
||||||||||||||||||
|
Business Registered No. |
124-81-27624 |
||||||||||||||||||
|
Permit & Licenses |
Int’l Trade No.: 542269 |
||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||
|
Company History |
05/1974 Established as JEIL PHARM. CO.(Sole
Proprietorship) 11/18/1980 Incorporated as the present name 06/2001 Designated as a Promising SME by
Gyeonggi Province, Korea 10/2001 Completed BGMP Facilties 04/17/2002 Listed at KOSDAQ Market 08/2008 Acquired Eco P&F Co., Ltd.(110111-3951848) 02/04/2013 Increased capital to 7,205,479,000 KRW from 7,156,651,000
KRW |
||||||||||||||||||
|
|
|
|
Job Description |
Name |
Nationality |
Date of Birth |
Inauguration Date |
|
Chairman & CEO |
Cho Jung-Myung |
Korean |
12/15/1948 |
10/16/2013 |
|
President & CEO |
Park Phil-Joon |
Korean |
09/22/1960 |
01/02/2013 |
|
Vice President |
Ahn Sang-Cheon |
Korean |
04/12/1963 |
10/14/2013 |
|
Outside Director / Auditor |
Park Jung-Il |
Korean |
04/28/1970 |
03/21/2014 |
|
Outside Director / Auditor |
Park Doo-Won |
Korean |
02/11/1955 |
10/14/2013 |
|
Outside Director / Auditor |
Choi Chang-Kyu |
Korean |
06/04/1955 |
10/14/2013 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
77,794,744,464 |
128,894,546,338 |
2,357,888,854 |
|
|
(*)2014 |
96,103,080,879 |
122,924,472,259 |
4,028,958,926 |
|
(*)2013 |
94,165,903,736 |
123,226,934,815 |
4,254,710,843 |
|
(*)2012 |
91,723,166,914 |
113,256,835,489 |
5,114,676,704 |
|
(*)2011 |
78,097,350,738 |
98,791,213,472 |
4,676,324,958 |
|
(*)2010 |
76,067,646,494 |
107,660,060,440 |
4,274,517,444 |
|
2009 |
72,112,584,287 |
85,321,200,059 |
4,289,385,137 |
|
2008 |
61,371,591,549 |
71,890,758,102 |
5,148,234,554 |
|
2007 |
60,287,772,247 |
57,760,360,949 |
4,929,631,959 |
|
2006 |
54,900,919,914 |
56,401,487,368 |
4,509,130,859 |
|
2005 |
52,921,707,173 |
46,115,581,223 |
4,733,147,756 |
|
2004 |
49,767,669,954 |
40,824,313,435 |
4,008,977,573 |
(*)Figures are based on the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
50,000,000,000 |
|
Paid-Up Capital(KRW) |
7,205,479,000 |
|
Total Issues Shares |
14,410,958 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
01/01/2015~09/30/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Total Assets |
128,894,546,338 |
122,924,472,259 |
123,226,934,815 |
|
Current Assets |
80,714,156,161 |
74,052,337,812 |
71,906,261,994 |
|
Cash & Cash Equivalents |
3,736,884,417 |
4,257,105,463 |
8,190,430,916 |
|
Current Financial Instruments |
1,486,583,274 |
4,950,813,256 |
1,946,914,096 |
|
Trade Receivables |
41,089,343,782 |
38,054,991,862 |
31,492,218,202 |
|
Other Current Receivables |
152,042,932 |
325,634,485 |
3,249,593,029 |
|
Inventories |
34,131,971,085 |
25,942,272,501 |
26,930,748,906 |
|
Deferred Income Tax Assets |
|
283,306,362 |
|
|
Current Non-Financial Instruments |
117,330,671 |
238,213,883 |
96,356,845 |
|
Non-Current Assets |
48,180,390,177 |
48,872,134,447 |
51,320,672,821 |
|
Non-Current Financial Instruments |
1,095,561,786 |
1,177,957,199 |
3,231,626,755 |
|
Long-Term Trade Receivables |
4,259,721 |
|
104,545,456 |
|
Other Non-Current Receivables |
187,664,800 |
187,664,800 |
187,664,800 |
|
Investment_Subsidiaries |
643,796 |
9,371,837 |
1,000,000,000 |
|
Tangibles |
38,198,039,848 |
39,039,568,828 |
38,907,334,224 |
|
Investment_Real Estates |
3,606,137,625 |
3,644,621,001 |
3,695,932,168 |
|
Intangibles |
5,088,082,601 |
4,812,950,782 |
4,193,569,418 |
|
Total Liabilities |
38,810,255,758 |
33,854,340,611 |
36,814,982,959 |
|
Current Liabilities |
32,229,961,874 |
21,861,701,847 |
25,492,475,479 |
|
Trade Payables |
6,177,227,146 |
6,777,040,797 |
5,105,213,285 |
|
Other Current Payables |
3,560,865,443 |
1,416,972,292 |
7,557,234,387 |
|
Short-Term Borrowings |
18,287,295,693 |
11,872,809,522 |
10,572,046,000 |
|
Current Portion of Long-Term
Debts |
3,354,840,000 |
1,354,840,000 |
1,354,840,000 |
|
Deferred Income Tax Credit |
675,789,828 |
289,345,617 |
657,076,206 |
|
Other Current Non-Finance
Liabilities |
173,943,764 |
150,693,619 |
246,065,601 |
|
Non-Current Liabilities |
6,580,293,884 |
11,992,638,764 |
11,322,507,480 |
|
Other Non-Current Payables |
|
2,378,023,092 |
|
|
Long-Term Borrowings |
5,419,360,000 |
8,435,490,000 |
9,790,330,000 |
|
Deferred Income Tax Credit |
1,160,428,851 |
1,178,620,639 |
1,530,030,197 |
|
Provision for Severance &
Retirement |
505,033 |
505,033 |
2,147,283 |
|
Capital Stock |
7,205,479,000 |
7,205,479,000 |
7,205,479,000 |
|
Capital Surplus |
19,594,466,322 |
19,594,466,322 |
19,594,466,322 |
|
Profit Surplus |
67,703,890,822 |
66,698,292,068 |
64,021,623,242 |
|
Others |
-4,419,545,564 |
-4,428,105,742 |
-4,409,616,708 |
|
Total Equity |
90,084,290,580 |
89,070,131,648 |
86,411,951,856 |
|
Liab. & Shareholder’s Equity |
128,894,546,338 |
122,924,472,259 |
123,226,934,815 |
|
Income Statement |
|||
|
Unit : Korean Won |
01/01/2015~09/30/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Sales |
77,794,744,464 |
96,103,080,879 |
94,165,903,736 |
|
Cost of Sold Goods |
69,098,793,203 |
81,900,803,602 |
78,089,867,068 |
|
Gross Profit |
8,695,951,261 |
14,202,277,277 |
16,076,036,668 |
|
Selling & Admin. Expenses |
5,969,041,744 |
8,348,066,335 |
10,464,227,568 |
|
Operating Income |
2,726,909,517 |
5,854,210,942 |
5,611,809,100 |
|
Other Income |
1,210,185,247 |
190,806,686 |
440,949,639 |
|
Other Expenses |
207,145,875 |
1,632,249,736 |
397,653,808 |
|
Finance Income |
131,754,773 |
466,869,151 |
410,877,753 |
|
Finance Expenses |
523,756,476 |
574,305,525 |
721,109,716 |
|
Income Before Taxes |
3,337,947,186 |
4,305,331,518 |
5,344,872,968 |
|
Income Taxes Expenses |
980,058,332 |
276,372,592 |
1,090,162,125 |
|
Net Income |
2,357,888,854 |
4,028,958,926 |
4,254,710,843 |
|
Cash Flows |
|||
|
Unit : Korean Won |
01/01/2015~09/30/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Operating
Activities Cash Flows |
-7,706,828,110 |
-2,622,701,205 |
7,016,234,397 |
|
Net
Income |
2,357,888,854 |
4,028,958,926 |
4,254,710,843 |
|
Adjustment |
-9,535,896,483 |
-4,980,622,818 |
4,639,257,092 |
|
Interests
Received |
209,365,876 |
258,388,095 |
282,119,029 |
|
Interests
Paid |
-477,344,671 |
-726,874,159 |
-611,629,852 |
|
Dividends
Received |
|
71,053,000 |
|
|
Income
Taxes |
-260,841,686 |
-1,273,604,249 |
-1,548,222,715 |
|
Cash
Flows from Investing |
3,118,449,851 |
92,160,721 |
-10,958,225,974 |
|
Cash
Flows from Financing |
4,046,066,071 |
-1,406,366,578 |
3,859,938,944 |
|
Increase/Decrease
in Cash |
-542,312,188 |
-3,936,907,062 |
-82,052,633 |
|
Cash
at the Beginning of Year |
4,257,105,463 |
8,190,430,916 |
8,354,422,224 |
|
Cash
at the End of Year |
3,736,884,417 |
4,257,105,463 |
8,190,430,916 |
|
Main Products & Services |
Pharmaceutical Raw Materials, Analgesics, Food Additives -Acemetacin -Oxatomide -Phloro Glucin -Talniflumate -Triflusal -Gallamine
Triethyl Iodide -Alibendol
Erdostein -Others Automobile Brand Name : LVSP, TNFL, ACCL, TRPR, LTBF, EDST |
||||||||||||||||||||
|
Annual Production Capacity (Unit: Kg) |
|
||||||||||||||||||||
|
Technologies Acquired |
|
|
Suppliers |
WAFRAPHARMA LABORATORIES LTD. HYUNDAI MOTOR COMPANY(110111-0085450) |
|
Customers |
Major Pharmaceutical Manufacturing
Companies SEPEHR DIESEL KAVEH AUTOMOTIVE |
|
Competitors |
DAEBONGLSCO.,LTD(124311-0016976) 122B-9L, NAMDONG INDUSTRIAL COMPLEX, 692-8,
GOJAN-DONG, NAMDONG-GU, INCHEON, KOREA TEL:+82-32-817-8800~7 FAX:+82-32-817-8808 ESTECHPHARMA CO., LTD(135111-0047782) 34-10B, BARAN LOCAL INDUSTRIAL COMPLEX,
1407-9, HAGIL-RI, HYANGNAM-EUP, HWASEONG-SI, GYEONGGI-DO, KOREA TEL:+82-31-831-4800 FAX:+82-31-831-4801 HANMIFINECHEMICAL CO.,LTD.(131111-0005106) 1248-8, JEONGWANG 2-DONG, SIHEUNG-SI,
GYEONGGI-DO, KOREA TEL:+82-31-499-2541 FAX:+82-31-499-2540 DAEWOONG BIO INC.(131112-0004827) 906-5, SANGSIN-RI, HYANGNAM-EUP,
HWASEONG-SI, GYEONGGI-DO, KOREA TEL:+82-31-353-5271~3 FAX:+82-31-353-5626 |
|
Affiliates |
CRYSTAL GENOMICS
INCORPORATION(160111-0101016) ECO P&F CO., LTD.(110111-3951848) (19.74% held by the subject company) 776-12, YEOKSAM-DONG, GANGNAM-GU, SEOUL, KOREA |
|
Overseas Office |
|
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
|
|
Subsidiary |
HWAIL INTERNATIONAL CO., LTD.(110111-4313162) (100.0% held by the subject company) |
|
Corporate Ownership |
|
|
Major Shareholders |
CRYSTAL GENOMICS
INCORPORATION(160111-0101016) |
|
Cooperative Enterprise |
-Insured Company MG NON-LIFE INSURANCE CO., LTD.(110111-5065077) |
The Subject exports
to China and India, and it imports from USA, Japan and Europe.
No.
---------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.42 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.72.14 |
|
KRW |
1 |
Rs.0.056 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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.