|
Report No. : |
309339 |
|
Report Date : |
21.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
HWAIL PHARM.
CO., LTD. |
|
|
|
|
Registered Office : |
57, Jeyakgongdan 3-gil, Hyangnam-eup, Hwaseong-si, Gyeonggi-do, Korea |
|
|
|
|
Country : |
South
Korea |
|
|
|
|
Financials (as on) : |
30.09.2014 |
|
|
|
|
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 : |
139 |
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 |
HWAIL PHARM.
CO., LTD. (English Name : HWAIL
PHARMACEUTICAL CO., LTD.) (Korean Company
Name : “화일약품(주)”) |
|
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 |
445-937 |
|
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, 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 |
The Subject owns
the premises of registered HQ address.
|
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 |
Lee Jung-Kyu |
|
Address |
|
|
Date of Birth |
09/17/1947 |
|
Title |
Co-Chairman & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
7,205,479,000 |
||||||||||||||||||
|
Employees |
139 |
||||||||||||||||||
|
Formation |
Listed Company (KOSDAQ:061250) as of 04/17/2002 |
||||||||||||||||||
|
Bank Details |
Citibank, Korea-Yeoksam Station Branch Korea Exchange Bank-Dogokro Branch Hana Bank-Jeki Dong 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) |
||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
Co-Chairman & CEO |
Mr. |
Lee Jung-Kyu |
Korean |
1947. 09.17 |
Myungji University, Korea |
|
Co-Chairman & CEO |
Mr. |
Cho Jung-Myung |
Korean |
1948.12 |
University of Houston, USA |
|
President & CEO |
Mr. |
Park Phil-Joon |
Korean |
1960. 09.22 |
- |
|
Vice President |
|
Ahn Sang-Cheon |
Korean |
1963.04 |
- |
|
Outside Director / Auditor |
Mr. |
Park Jung-Il |
Korean |
1970.04 |
Seoul National University, Korea |
|
Outside Director / Auditor |
Mr. |
Park Doo-Won |
Korean |
1955.02 |
- |
|
Outside Director / Auditor |
Mr. |
Choi Chang-Kyu |
Korean |
1955.06 |
- |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
68,492,411,965 |
119,782,864,725 |
3,079,124,930 |
|
|
(*)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 |
01/01/2014~09/30/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total Assets |
119,782,864,725 |
123,226,934,815 |
113,256,835,489 |
|
Current Assets |
70,102,487,102 |
71,906,261,994 |
75,114,363,501 |
|
Cash & Cash Equivalents |
5,544,777,691 |
8,190,430,916 |
8,354,422,224 |
|
Current Financial Instruments |
3,860,813,256 |
1,946,914,096 |
1,050,359,724 |
|
Trade Receivables |
34,078,660,162 |
31,492,218,202 |
37,893,317,189 |
|
Other Current Receivables |
2,595,367,803 |
3,249,593,029 |
3,013,420,206 |
|
Inventories |
23,851,327,737 |
26,930,748,906 |
24,227,420,622 |
|
Current Non-Financial Instruments |
171,540,453 |
96,356,845 |
575,423,536 |
|
Non-Current Assets |
49,680,377,623 |
51,320,672,821 |
38,142,471,988 |
|
Non-Current Financial Instruments |
1,309,083,619 |
3,231,626,755 |
2,169,514,877 |
|
Long-Term Trade Receivables |
32,181,818 |
104,545,456 |
0 |
|
Other Non-Current Receivables |
187,664,800 |
187,664,800 |
420,408,543 |
|
Investment_Subsidiaries |
1,000,000,000 |
1,000,000,000 |
1,000,000,000 |
|
Tangibles |
39,313,275,083 |
38,907,334,224 |
29,835,428,131 |
|
Investment_Real Estates |
3,657,448,793 |
3,695,932,168 |
4,044,763,384 |
|
Intangibles |
4,180,723,510 |
4,193,569,418 |
672,357,053 |
|
Total Liabilities |
31,644,686,156 |
36,814,982,959 |
30,975,906,048 |
|
Current Liabilities |
18,990,424,296 |
25,492,475,479 |
24,416,404,237 |
|
Trade Payables |
7,437,748,920 |
5,105,213,285 |
7,790,507,658 |
|
Other Current Payables |
1,384,449,643 |
7,557,234,387 |
725,743,771 |
|
Short-Term Borrowings |
8,096,056,400 |
10,572,046,000 |
14,466,216,284 |
|
Current Portion of Long-Term
Debts |
1,354,840,000 |
1,354,840,000 |
358,320,000 |
|
Deferred Income Tax Credit |
557,668,006 |
657,076,206 |
884,744,904 |
|
Other Current Non-Finance
Liabilities |
159,661,327 |
246,065,601 |
190,871,620 |
|
Non-Current Liabilities |
12,654,261,860 |
11,322,507,480 |
6,559,501,811 |
|
Other Non-Current Payables |
2,356,778,110 |
|
1,876,620,126 |
|
Long-Term Borrowings |
8,774,200,000 |
9,790,330,000 |
2,919,510,000 |
|
Provision for Severance &
Retirement |
2,147,283 |
2,147,283 |
0 |
|
Deferred Income Tax Credit |
1,521,136,467 |
1,530,030,197 |
1,763,371,685 |
|
Capital Stock |
7,205,479,000 |
7,205,479,000 |
7,010,167,000 |
|
Capital Surplus |
19,594,466,322 |
19,594,466,322 |
18,492,892,683 |
|
Profit Surplus |
65,748,458,072 |
64,021,623,242 |
61,080,140,099 |
|
Others |
-4,410,224,825 |
-4,409,616,708 |
-4,302,270,341 |
|
Total Equity |
88,138,178,569 |
86,411,951,856 |
82,280,929,441 |
|
Liab. & Shareholder’s Equity |
119,782,864,725 |
123,226,934,815 |
113,256,835,489 |
|
Income Statement |
|||
|
Unit : Korean Won |
01/01/2014~09/30/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
68,492,411,965 |
94,165,903,736 |
91,723,166,914 |
|
Cost of Sold Goods |
57,748,205,128 |
78,089,867,068 |
75,710,634,197 |
|
Gross Profit |
10,744,206,837 |
16,076,036,668 |
16,012,532,717 |
|
Selling & Admin. Expenses |
6,487,499,032 |
10,464,227,568 |
8,345,370,665 |
|
Operating Income |
4,256,707,805 |
5,611,809,100 |
7,667,162,052 |
|
Other Income |
139,623,844 |
440,949,639 |
208,204,956 |
|
Other Expenses |
174,566,303 |
397,653,808 |
392,874,238 |
|
Finance Income |
358,698,863 |
410,877,753 |
536,833,066 |
|
Finance Expenses |
626,161,105 |
721,109,716 |
870,216,613 |
|
Income Before Taxes |
3,954,303,104 |
5,344,872,968 |
7,149,109,223 |
|
Income Taxes Expenses |
875,178,174 |
1,090,162,125 |
2,034,432,519 |
|
Net Income |
3,079,124,930 |
4,254,710,843 |
5,114,676,704 |
|
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 |
2,979,937,053 |
7,016,234,397 |
1,775,488,505 |
|
Net
Income |
3,079,124,930 |
4,254,710,843 |
5,114,676,704 |
|
Adjustment |
1,165,834,064 |
4,639,257,092 |
494,986,993 |
|
Interests
Received |
213,490,035 |
282,119,029 |
451,386,045 |
|
Interests
Paid |
-566,256,391 |
-611,629,852 |
-790,598,530 |
|
Dividends
Received |
71,053,000 |
|
191,183 |
|
Income
Taxes |
-983,308,585 |
-1,548,222,715 |
-3,495,153,890 |
|
Cash
Flows from Investing |
-764,112,279 |
-10,958,225,974 |
-3,986,219,378 |
|
Cash
Flows from Financing |
-4,844,409,700 |
3,859,938,944 |
7,535,750,131 |
|
Increase/Decrease
in Cash |
-2,628,584,926 |
-82,052,633 |
5,325,019,258 |
|
Cash
at the Beginning of Year |
8,190,430,916 |
8,354,422,224 |
3,036,556,738 |
|
Cash
at the End of Year |
5,544,777,691 |
8,190,430,916 |
8,354,422,224 |
|
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 |
||||||||||||||||||||
|
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 |
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 |
|
|
Cooperative Enterprise |
-Insured Company MERITZ FIRE & MARINE INSURANCE CO., LTD.(110111-0013328) |
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.62.25 |
|
|
1 |
Rs.96.00 |
|
Euro |
1 |
Rs.70.72 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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.