|
Report No. : |
306402 |
|
Report Date : |
11.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
HANMI FINE
CHEMICAL CO., LTD. |
|
|
|
|
Registered Office : |
1248-8, Jeongwang 3-Dong, Siheung-Si, Gyeonggi-Do1-Ra 603-ho, Sihwa Industrial Complex 429-848 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
22.02.1984 |
|
|
|
|
Com. Reg. No.: |
133-81-22206 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Manufacture of Medicinal Chemicals and Antibiotics. |
|
|
|
|
No. of Employees : |
216 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 |
|
Company Name |
HANMI FINE CHEMICAL CO., LTD. |
|
Registered Address |
1248-8, Jeongwang 3-dong, Siheung-si, Gyeonggi-do,
Korea |
|
Building |
1-Ra 603-ho, Sihwa Industrial Complex |
|
Zip Code |
429-848 |
|
Tel |
+82-31-499-2541 |
|
Fax |
+82-31-499-2540 |
|
E-mail |
|
|
Website |
|
|
|
|
|
Trading Address |
1-Ra 603-ho, Sihwa Industrial Complex, 59,
Gyeongje-ro, Siheung-si, Gyeonggi-do, Korea (Old Address System : 1-Ra 603-ho, Sihwa Industrial
Complex, 1248-8, Jeongwang 3-dong, Siheung-si, Gyeonggi-do, Korea) |
|
Tel |
+82-31-499-2541 |
|
Fax |
+82-31-499-2540 |
|
|
|
|
Other Address-Branch Office |
114, Chupalsandan-ro, Paengseong-eup,
Pyeongtaek-si, Gyeonggi-do, Korea |
|
|
|
|
Type |
Export |
|
Industry |
Manufacture of Medicinal Chemicals and Antibiotics |
|
Main Business |
Pharmaceutical Ingredients, Injection |
|
|
|
|
Established (mm/dd/yyyy) |
02/22/1984 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Antibiotics(51101500) |
|
Buy |
Additives(12160000) |
|
Buy |
Alcohols or its substitutes(12352104) |
|
Buy |
Ethers or its substitutes(12352112) |
|
Buy |
Drugs and Pharmaceutical Products(51000000) |
|
Name |
Yoon Dae-Chul |
|
Address |
Suite 845-402, 33, Surisan-ro, Gunpo-si,
Gyeonggi-do, Korea |
|
Date of Birth |
04/05/1960 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
6,000,000,000 |
|||||||||||||||
|
Employees |
216 |
|||||||||||||||
|
Formation |
Co., Ltd by Shares A Company of Hanmi Pharm., Group |
|||||||||||||||
|
Bank Details |
Korea Development Bank-Shihwa Branch Shinhan Bank |
|||||||||||||||
|
Corporate Registered No. |
131111-0005106 |
|||||||||||||||
|
Business Registered No. |
133-81-22206 |
|||||||||||||||
|
Permit & Licenses |
07/2011 ISO 9001 07/2011 ISO 14001 Int’l Trade No.: 504843 |
|||||||||||||||
|
Shareholder Position |
|
|||||||||||||||
|
Company History |
02/22/1984 Incorporated as the present name 12/02/2004 Designated as a Venture Business 11/2008 Awarded US$ 50 Million Export Top
Prize 11/22/2008 Designated as a Venture Business
again |
|||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Yoon Dae-Chul |
Male |
Korean |
03/23/2012 |
|
Director |
Mr. |
Lim Sung-Ki |
Male |
Korean |
03/16/2001 |
|
Director |
Mr. |
Jang Young-Kil |
Male |
Korean |
03/14/2014 |
|
Auditor |
Mr. |
Lim Jong-Min |
Male |
Korean |
03/15/2013 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2013 |
86,267,599,712 |
108,034,425,910 |
1,254,012,888 |
|
2012 |
81,155,627,689 |
109,528,360,931 |
4,819,890,242 |
|
2011 |
80,943,480,552 |
108,753,338,070 |
471,440,661 |
|
2010 |
97,323,083,715 |
92,844,073,386 |
4,503,713,307 |
|
2009 |
87,610,572,612 |
93,035,942,051 |
5,853,218,849 |
|
Authorized Capital(KRW) |
24,000,000,000 |
|
Paid-Up Capital(KRW) |
6,000,000,000 |
|
Total Issued Shares |
1,200,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Total
Assets |
108,034,425,910 |
109,528,360,931 |
108,753,338,070 |
|
Current Assets |
53,153,856,268 |
53,019,924,147 |
45,345,006,718 |
|
Cash
& Cash Equivalents |
51,510,286 |
172,983,640 |
21,952,233 |
|
Current
Financial Instruments |
14,594,683,023 |
15,055,577,143 |
9,760,965,585 |
|
Trade
Receivables & Other Receivables |
13,130,158,102 |
11,047,134,709 |
11,535,912,425 |
|
Inventories |
25,345,885,670 |
26,712,752,096 |
23,337,083,513 |
|
Deferred
Income Tax Assets |
|
|
375,347,120 |
|
Other
Current Assets |
31,619,187 |
31,476,559 |
313,745,842 |
|
Non-Current Assets |
54,880,569,642 |
56,508,436,784 |
63,408,331,352 |
|
Non-Current
Financial Instruments |
1,881,578,026 |
2,226,053,726 |
2,428,677,272 |
|
Tangibles |
37,753,739,580 |
39,060,748,902 |
45,376,783,078 |
|
Intangibles |
466,907,836 |
453,289,956 |
824,526,802 |
|
Investment_Real
Estates |
14,752,069,200 |
14,752,069,200 |
14,752,069,200 |
|
Other
Non-Current Assets |
26,275,000 |
16,275,000 |
26,275,000 |
|
Total Liabilities |
35,379,762,329 |
37,807,601,377 |
41,951,143,174 |
|
Current Liabilities |
22,480,759,656 |
20,424,819,121 |
14,163,490,195 |
|
ther
Current Financial Debts |
8,013,696,221 |
9,228,060,099 |
3,351,115,401 |
|
Trade
Payables & Other Payables |
14,217,343,089 |
9,998,188,631 |
9,373,724,154 |
|
Deferred
Income Tax Credit |
249,720,346 |
1,198,570,391 |
1,438,650,640 |
|
Non-Current Liabilities |
12,899,002,673 |
17,382,782,256 |
27,787,652,979 |
|
Other
Non-Current Financial Debts |
2,010,710,448 |
6,123,017,824 |
16,435,542,745 |
|
Provision
for Severance & Retirement |
409,373,960 |
7,131,217 |
0 |
|
Deferred
Income Tax Credit |
3,345,301,602 |
3,946,840,447 |
3,894,454,691 |
|
Other
Debts |
5,103,324,827 |
4,899,150,363 |
4,703,144,545 |
|
Other
Non-Current Liabilities |
2,030,291,836 |
2,406,642,405 |
2,754,510,998 |
|
Capital Stock |
6,000,000,000 |
6,000,000,000 |
6,000,000,000 |
|
Profit
Surplus |
66,626,008,487 |
65,686,663,414 |
60,799,851,732 |
|
Others |
28,655,094 |
34,096,140 |
2,343,164 |
|
Total
Equity |
72,654,663,581 |
71,720,759,554 |
66,802,194,896 |
|
Liab.
& Shareholder’s Equity |
108,034,425,910 |
109,528,360,931 |
108,753,338,070 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Sales |
86,267,599,712 |
81,155,627,689 |
80,943,480,552 |
|
Cost
of Sold Goods |
80,593,619,273 |
71,065,775,977 |
73,462,302,231 |
|
Gross
Profit |
5,673,980,439 |
10,089,851,712 |
7,481,178,321 |
|
Selling
& Admin. Expenses |
5,714,646,603 |
3,981,389,489 |
4,319,700,212 |
|
Operating
Income |
-40,666,164 |
6,108,462,223 |
3,161,478,109 |
|
Other
Income |
902,677,755 |
1,149,255,895 |
1,004,079,561 |
|
Other
Expenses |
357,337,901 |
1,630,628,747 |
397,722,997 |
|
Finance
Income |
1,310,198,973 |
1,684,464,438 |
284,320,813 |
|
Finance
Expenses |
883,946,009 |
1,094,812,944 |
1,451,941,905 |
|
Income
Before Taxes |
930,926,654 |
6,216,740,865 |
2,600,213,581 |
|
Income
Taxes Expenses |
-323,086,234 |
1,396,850,623 |
2,128,772,920 |
|
Net
Income |
1,254,012,888 |
4,819,890,242 |
471,440,661 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2013 |
As of 12/31/2012 |
As of 12/31/2011 |
|
Operating Activities Cash Flows |
7,530,346,812 |
9,747,946,420 |
17,739,662,827 |
|
Net
Income |
1,254,012,888 |
4,819,890,242 |
471,440,661 |
|
Adjustment |
7,625,255,848 |
6,709,889,395 |
19,438,119,517 |
|
Interests
Received |
478,978,172 |
335,329,015 |
247,130,286 |
|
Dividends
Received |
3,532,000 |
6,051,426 |
9,529,637 |
|
Interests
Paid |
-683,832,746 |
-905,059,695 |
-956,836,494 |
|
Income
Taxes |
-1,147,599,350 |
-1,218,153,963 |
-1,469,720,780 |
|
Cash
Flows from Investing |
-2,923,760,070 |
-6,179,911,974 |
-14,030,560,256 |
|
Cash
Flows from Financing |
-4,728,060,096 |
-3,417,003,039 |
-4,056,441,338 |
|
Increase/Decrease
in Cash |
-121,473,354 |
151,031,407 |
-347,338,767 |
|
Cash
at the Beginning of Year |
172,983,640 |
21,952,233 |
369,291,000 |
|
Cash
at the End of Year |
51,510,286 |
172,983,640 |
21,952,233 |
|
Main Products & Services |
Pharmaceutical Ingredients, Injection |
|
Customers |
HANMI PHARM CO., LTD.(134811-0197550) |
|
Competitors |
PHARMACHEM CO., LTD. 3RD FL., 309, JAMSILBON-DONG, SONGPA-GU,
SEOUL, KOREA TEL:+82-2-575-8914 FAX:+82-2-575-8913 DUKSAN PURE CHEMICALS CO., LTD. 608B-2L, BANWOL INDUSTRIAL COMPLEX, 635-1,
SEONGGOK-DONG, DANWON-GU, ANSAN-SI, GYEONGGI-DO, KOREA TEL:+82-31-495-4055 FAX:+82-31-495-4058 SECHANG INT`L CORP. A-1422, GALLERIA PALACE, 40, JAMSIL 3-DONG,
SONGPA-GU, SEOUL, KOREA TEL:+82-2-2145-4883 FAX:+82-2-2145-4893 |
|
Affiliates |
HANMI PHARM CO., LTD.(134811-0197550) HANMI
SCIENCE CO., LTD.(134811-0003187) HANMI PHARM CO., LTD.(134811-0197550) ONLINE PHARM. CO., LTD.(134811-0239691) HANMI MEDICARE CO., LTD.(110111-2098295) ERMURUS CO., LTD.(110111-1135501) RIGHTCOM CO., LTD. HMG KOREA CO., LTD.(Ex. LIMS CAPITAL CO., LTD. :110111-3681304) HANMI IT CO., LTD.(110111-3206897) HANMI PHARM.(CHINA) CO., LTD. HANMI PHARM.(JAPAN) CO., LTD. HANMI EUROPE LTD. |
|
Corporate Ownership |
HANMI PHARM CO., LTD.(134811-0197550) HANMI
SCIENCE CO., LTD.(134811-0003187) |
|
Major Shareholders |
HANMI PHARM CO., LTD.(134811-0197550) |
|
Cooperative Enterprise |
-Insured Company HANWHA GENERAL INSURANCE CO., LTD.(110111-0006456) |
Not Available.
No.
--------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.96 |
|
|
1 |
Rs.94.41 |
|
Euro |
1 |
Rs.70.20 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.