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Report No. : |
309169 |
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Report Date : |
20.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
KOMIPHARM
INTERNATIONAL CO., LTD. |
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|
Formerly Known As : |
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|
|
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Registered Office : |
17, Gyeongje-ro, Siheung-si, Gyeonggi-do, 1Ra-107, Sihwa Industrial
Complex, Zip Code 429-914 |
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Country : |
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|
|
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Financials (as on) : |
30.09.2014 |
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|
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Date of Incorporation : |
21.09.1972 |
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|
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Com. Reg. No.: |
133-81-23355 |
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|
|
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Legal Form : |
Co., Ltd by shares |
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|
|
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Line of Business : |
·
Engaged as manufacturer of Vaccines,
Antibiotics,·Antibacterial,
Nutritions, Metabolic, Immune Boosters, Vermifuge, Probiotics, Digestive
Enzymes, Expectorant, Hormone, Skin Disease, Anesthetic,
Antipyretic-Analgesics, Organic Acid, Anticoccidial, Disinfectants for being
used to Livestock, Aqua,
Pet Animal according to strict
KVGMP Engaged in Research
and Experimental Development On Medical Sciences and Pharmacy |
|
|
|
|
No of Employees : |
143 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Exists |
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 |
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High |
B2 |
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Very High |
C1 |
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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 |
KOMIPHARM
INTERNATIONAL CO., LTD. (Korean Company Name : “(주)코미팜”) |
|
Registered Address |
17, Gyeongje-ro, Siheung-si, Gyeonggi-do, Korea |
|
Building |
1Ra-107,
Sihwa Industrial Complex |
|
Zip Code |
429-914 |
|
Tel |
+82-31-498-6104~6 |
|
Fax |
+82-31-498-6107 |
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E-mail |
|
|
Website |
|
|
Trading
Address |
1Ra-107, Sihwa Industrial Complex, 17,
Gyeongje-ro, Siheung-si, Gyeonggi-do, Korea (Old Address System : 1Ra-107, Sihwa Industrial Complex, 1236-6,
Jeongwang 3-dong, Siheung-si, Gyeonggi-do, Korea) |
|
Tel |
+82-31-498-6104~6 |
|
Fax |
+82-31-498-6107 |
|
Other
Address-2nd Factory |
256-1, Dukok-ri, Shinahm-myun, Yeosan-gun, ChungNam-do, Korea |
|
Tel |
+82-41-333-4262 |
|
Fax |
+82-41-333-4263 |
|
Type |
Export/Import |
|
Main Business |
·
Engaged as manufacturer of Vaccines,
Antibiotics,·Antibacterial,
Nutritions, Metabolic, Immune Boosters, Vermifuge, Probiotics, Digestive
Enzymes, Expectorant, Hormone, Skin Disease, Anesthetic,
Antipyretic-Analgesics, Organic Acid, Anticoccidial, Disinfectants for being
used to Livestock, Aqua,
Pet Animal according to strict
KVGMP Engaged
in Research and Experimental Development On Medical Sciences and Pharmacy |
|
Established (mm/dd/yyyy) |
09/21/1972 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Blood
analysis laboratory services(85121801) |
|
Sell |
Preservatives(12164501) |
|
Sell |
Veterinary
products(42121600) |
|
Sell |
Organic
fertilizers and plant nutrients(10171500) |
|
Name |
Yang
Yong-Jin |
|
Date of Birth |
08/01/1953 |
|
Title |
Chairman
& CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
5,000,000,000 |
|||||||||||||||||||||||||||
|
Employees |
143 |
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|
Formation |
Co., Ltd by shares Venture Business Listed
Company (KOSDAQ : 041960) as of 10/30/2001 |
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Bank Details |
Industrial Bank of Korea-Shihwa Industrial
Complex Branch |
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Corporate Registered No. |
110111-0134372 |
|||||||||||||||||||||||||||
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Business Registered No. |
133-81-23355 |
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|
Permit & Licenses |
Int’l
Trade No.: 21010473 |
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Shareholder Position |
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Company History |
09/21/1972 Incorporated as Korea
Microbiological Lab., ltd. 09/03/2004 Changed company name to the
present name 10/2006 Designated as a Venture Business
again 10/2007 Designated as a Venture Business
again 10/2008 Designated as a Venture Business
again 11/2008 Awarded US$1 Million Export Top
Prize |
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|
|
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Job
Description |
Title |
Name |
Nationality |
Date of
Birth |
Education |
|
Chairman
& CEO |
Mr. |
Yang Yong-Jin |
Korean |
1953.08.01 |
- |
|
President
& CEO |
Mr. |
Moon Seong-Cheol |
Korean |
1959.11.13 |
Kyungsang University, Korea |
|
Vice
President & CEO |
Mr. |
Song Tae-Jong |
Korean |
1960.11 |
Baruch
College School of Business, Computer Information Systems |
|
Sr.
Executive Director |
Mr. |
Kim Sang-Hyun |
Korean |
1963.07 |
Seoul National University, Korea |
|
Director |
M/S. |
Kim Soo-Jung |
Korean |
1973.01 |
Hanyang University, Korea |
|
Executive
Director |
Mr. |
Kim Ho-Yong |
Korean |
1950.01 |
Korea University, Korea |
|
Outside
Director |
Mr. |
Yoo Jung-Ki |
Korean |
1946.06.06 |
Hanyang University, Korea |
|
Auditor |
Mr. |
Park Yi-Keun |
Korean |
1967.07.05 |
KAIST, Korea |
|
Year / Unit
: KRW |
Sales |
Assets |
Net Income |
|
(*)09/2014 |
23,574,233,192 |
115,996,539,383 |
-124,952,575 |
|
(*)2013 |
25,848,107,225 |
108,552,946,575 |
1,007,045,083 |
|
(*)2012 |
20,984,013,549 |
75,454,548,654 |
272,384,973 |
|
(*)2011 |
18,579,559,822 |
63,862,358,010 |
23,257,264 |
|
2010 |
18,173,230,855 |
38,511,573,730 |
553,278,904 |
|
2008 |
16,002,022,429 |
36,066,300,958 |
-3,145,741,258 |
|
12,012,051,257 |
32,774,147,800 |
-964,442,940 |
(*) Figures are based on
the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
30,000,000,000 |
|
Paid-Up Capital(KRW) |
5,034,870,400 |
|
Total Issued Shares |
50,348,704 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
01/01/2014~09/30/2014 |
As of
12/31/2013 |
As of
12/31/2012 |
|
Total Assets |
115,996,539,383 |
108,552,946,575 |
75,454,548,654 |
|
Current
Assets |
26,709,249,617 |
30,156,589,965 |
31,368,358,708 |
|
Inventories |
12,085,517,300 |
10,682,644,279 |
6,416,329,483 |
|
Trade Receivables & Other
Receivables |
13,488,640,574 |
13,973,694,290 |
13,758,727,837 |
|
Current Financial Instruments |
1,298,422 |
17,068,107 |
|
|
Other Current Assets |
124,341,577 |
3,820,201,639 |
3,758,423,777 |
|
Deferred Income Tax Assets |
118,760,810 |
110,405,890 |
34,160,780 |
|
Cash & Cash Equivalents |
890,690,934 |
1,552,575,760 |
7,400,716,831 |
|
Non-Current
Assets |
89,287,289,766 |
78,396,356,610 |
44,086,189,946 |
|
Tangibles |
62,338,669,109 |
54,905,988,605 |
31,055,263,739 |
|
Intangibles |
12,082,247,595 |
9,752,080,572 |
6,103,059,374 |
|
Investment_Related Companies |
1,857,600,000 |
1,857,600,000 |
5,245,672,720 |
|
Investment_Subsidiaries |
201,900,000 |
201,900,000 |
201,900,000 |
|
Other Financial Assets |
10,537,633,062 |
10,447,707,433 |
288,214,113 |
|
Other
Receivables |
2,269,240,000 |
1,231,080,000 |
1,192,080,000 |
|
Total
Liabilities |
68,575,142,251 |
64,083,396,070 |
35,911,688,292 |
|
Current
Liabilities |
48,702,472,590 |
32,784,713,248 |
10,417,349,142 |
|
Short-Term Borrowings |
15,229,021,411 |
13,449,708,953 |
8,500,000,000 |
|
Current Portion of Long-Term
Debts |
24,977,377,066 |
10,253,171,119 |
|
|
Trade Payables & Other
Payables |
8,484,487,795 |
9,080,389,498 |
1,890,269,907 |
|
Other Current Liabilities |
11,586,318 |
1,443,678 |
27,079,235 |
|
Non-Current
Liabilities |
19,872,669,661 |
31,298,682,822 |
25,494,339,150 |
|
Long-Term Borrowings |
19,664,940,000 |
30,009,736,763 |
23,260,127,127 |
|
Deferred Income Tax Credit |
207,729,661 |
1,288,946,059 |
2,234,212,023 |
|
Capital
Stock |
5,072,247,500 |
5,034,870,400 |
5,000,000,000 |
|
Capital Surplus |
33,434,829,815 |
30,522,225,049 |
26,314,163,360 |
|
Others |
61,389,426 |
-65,427,910 |
-623,118,605 |
|
Installments |
|
|
640,649,021 |
|
Profit Surplus |
8,852,930,391 |
8,977,882,966 |
8,211,166,586 |
|
Total Equity |
47,421,397,132 |
44,469,550,505 |
39,542,860,362 |
|
Liab. & Shareholder’s Equity |
115,996,539,383 |
108,552,946,575 |
75,454,548,654 |
Income
Statement
|
|||
|
Unit : Korean Won |
01/01/2014~09/30/2014 |
As of
12/31/2013 |
As of
12/31/2012 |
|
Sales |
23,574,233,192 |
25,848,107,225 |
20,984,013,549 |
|
Cost of Sold Goods |
15,202,547,354 |
16,815,528,507 |
12,496,461,582 |
|
Gross Profit |
8,371,685,838 |
9,032,578,718 |
8,487,551,967 |
|
Selling & Admin.
Expenses |
8,186,049,625 |
8,493,590,734 |
7,676,536,450 |
|
Operating Income |
185,636,213 |
538,987,984 |
811,015,517 |
|
Other Expenses |
241,891,235 |
359,456,662 |
801,988,530 |
|
Operating Income |
223,613,581 |
990,193,955 |
493,928,894 |
|
Finance Income |
224,220,460 |
1,493,586,984 |
352,659,996 |
|
Finance Expenses |
1,634,303,300 |
1,179,056,494 |
1,128,400,987 |
|
Profits from
Investment on Related Companies |
|
-402,894,996 |
|
|
Income Before Taxes |
-1,206,168,973 |
-180,113,815 |
343,334,162 |
|
Income Taxes Expenses |
-1,081,216,398 |
-1,187,158,898 |
70,949,189 |
|
Net Income |
-124,952,575 |
1,007,045,083 |
272,384,973 |
Cash Flows
|
|||
|
Unit : Korean Won |
01/01/2014~09/30/2014 |
As of
12/31/2013 |
As of
12/31/2012 |
|
Operating Activities Cash Flows |
2,987,737,874 |
5,262,053,840 |
-5,727,906,695 |
|
Net Income |
-124,952,575 |
1,007,045,083 |
272,384,973 |
|
Adjustment |
3,731,878,198 |
3,678,463,321 |
1,976,322,040 |
|
Changes in Asset/
& Liability |
321,243,558 |
1,287,028,265 |
-7,475,491,389 |
|
Interests Received |
220,084,046 |
163,692,944 |
327,109,312 |
|
Interests Paid |
-1,160,515,353 |
-742,777,401 |
-828,231,631 |
|
Income Taxes |
|
-131,398,372 |
|
|
Cash Flows from
Investing |
-12,373,008,134 |
-36,666,499,826 |
-9,222,167,083 |
|
Cash Flows from
Financing |
8,723,385,434 |
25,556,368,136 |
10,400,000,000 |
|
Increase/Decrease in
Cash |
-661,884,826 |
-5,848,077,850 |
-4,550,073,778 |
|
Cash at the Beginning
of Year |
1,552,575,760 |
7,400,716,831 |
11,950,790,609 |
|
Cash at the End of
Year |
890,690,934 |
1,552,575,760 |
7,400,716,831 |
|
Main Products & Services |
Vaccines, Antibiotics,·Antibacterial, Nutritions,
Metabolic, Immune Boosters, Vermifuge, Probiotics, Digestive Enzymes,
Expectorant, Hormone, Skin Disease, Anesthetic, Antipyretic-Analgesics,
Organic Acid, Anticoccidial, Disinfectants Brand Name : AKL, RES-VAC, T-MAX, PANKILL,
9R-VAC |
|
Suppliers |
ABICON CHEMI CO., LTD. YANGSUNG ANIMAL BIO CO., LTD. IHYO BIO SCIENCE CO., LTD. |
|
Competitors |
KBNP,
INC.(164211-0000543) 254-18, DUGOK-RI,
SINAM-MYEON, YESAN-GUN, CHUNGCHEONGNAM-DO, KOREA TEL:+82-31-478-5770 FAX:+82-31-478-5771 DAESUNG
MICROBIOLOGICAL LABS. CO., LTD.(134111-0000880) 293, SAM-DONG, UIWANG-SI, GYEONGGI-DO, KOREA TEL:+82-31-461-7103 FAX:+82-31-461-0599 CHOONG ANG
VACCINE LABORATORY(160111-0042533) 59-3,
HWAAM-DONG, YUSEONG-GU, DAEJEON, KOREA TEL:+82-42-863-9322 FAX:+82-42-863-8454 |
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
KOMINOX, INC. (40.0% held by the subject company) K.I.A, INC. (100.0% held by the subject company) KWANGZHOU SUYONG BIO PRODUCTS CO., LTD. (20.0% held by the subject company) |
|
Subsidiary |
KOMIPHARM INTERNATIONAL AMERICA, INC. (100.0% held by the subject company) |
|
Cooperative Enterprise |
-Insured Company HANWHA NON-LIFE INSURANCE CO., LTD.(110111-0006456) DONGBU
INSURANCE CO., LTD.(110111-0095285) |
(Activity & Markets)
The Subject deals
with the companies in Asia. It imports from France and China.
|
Court |
Plaintiff(s)/ Creditor(s)/ Applicant(s) |
Defendant(s)/ Debtor(s)/ Respondent(s) |
Status |
|
Seoul
High Court, Korea |
Lee
Sang-Bong |
The
Subject Company and Yang Yong-Jin |
Proceeding |
|
Seoul
Central District Court |
The
Subject Company |
Lee
Sang-Bong |
Proceeding |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.25 |
|
UK Pound |
1 |
Rs.95.57 |
|
Euro |
1 |
Rs.71.01 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MNL |
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.