|
Report No. : |
303693 |
|
Report Date : |
19.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
CHONG KUN DANG PHARMACEUTICAL CORP. |
|
|
|
|
Registered Office : |
8, Chungjeong-ro, Seodaemun-gu, |
|
|
|
|
Country : |
South Korea. |
|
|
|
|
Financials (as on) : |
30.09.2014 |
|
|
|
|
Date of Incorporation : |
11.05.2013 |
|
|
|
|
Com. Reg. No.: |
110-86-08069 |
|
|
|
|
Legal Form : |
Listed Company (Korea Stock Exchange : 185750) as of 12/06/2013 Foreign Direct Investment Corporation |
|
|
|
|
Line of Business : |
Manufacture of Finished Medicaments. |
|
|
|
|
No. of Employee : |
1,779 |
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 : |
Slow but correct |
|
|
|
|
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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 |
CHONG KUN DANG PHARMACEUTICAL CORP. (Trade Name : CKD Pharm) |
|
Registered Address |
8, Chungjeong-ro, Seodaemun-gu, Seoul, Korea |
|
Building |
Chongkundang Bldg. |
|
Zip Code |
120-756 |
|
Tel |
+82-2-2194-0300 |
|
Fax |
+82-2-2194-0417 |
|
E-mail |
webmaster@ckdpharm.com;
ckdexport@ckdpharm.com; intl@ckdbio.com |
|
Website |
|
|
Trading Address |
Chongkundang Bldg., 8, Chungjeong-ro, Seodaemun-gu, Seoul, Korea (Old Address System : Chongkundang Bldg., 368, Chungjeongno 3-ga,
Seodaemun-gu, Seoul, Korea) |
|
Tel |
+82-2-2194-0300 |
|
Fax |
+82-2-2194-0417 |
|
Other Address |
|
|
Tel |
|
|
Fax |
|
|
Type |
Export/Import |
|
Industry |
Manufacture of Finished Medicaments |
|
Main Business |
Antipyretic, Digestive, Antibiotic |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
11/05/2013 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Antibiotics(51101500) |
|
Sell |
Antihistamines or H1 blockers(51161600) |
|
Sell |
Immunosuppressants(51201500) |
|
Sell |
Dietary supplements and nutritional therapy products(51191900) |
|
Sell |
Drugs affecting the gastrointestinal system(51170000) |
|
Sell |
Antispasmodics(51172100) |
|
Sell |
Non narcotic analgesics and antipyretics(51142000) |
|
Sell |
Anthelmintics and other antiparasitics(51101700) |
|
Buy |
Flavours or extracts(12164502) |
|
Buy |
Antiseptics(51102700) |
|
Buy |
Cyclosporine(51201502) |
|
Buy |
Menthol(51161803) |
|
Name |
Kim Jung-Woo |
|
Address |
|
|
Date of Birth |
08/1952 |
|
Title |
Vice Chairman & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
23,522,625,000 |
||||||||||||||||||||||||
|
Employees |
1,779 |
||||||||||||||||||||||||
|
Formation |
Listed Company (Korea Stock Exchange : 185750) as of 12/06/2013 Foreign Direct Investment Corporation A Company of CHONG KUN DANG |
||||||||||||||||||||||||
|
Bank Details |
Woori Bank-Ahyeon-Station Branch Shinhan Bank |
||||||||||||||||||||||||
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Corporate Registered No. |
110111-5260669 |
||||||||||||||||||||||||
|
Business Registered No. |
110-86-08069 |
||||||||||||||||||||||||
|
Permit & Licenses |
Int’l Trade No.: 690104 |
||||||||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||||||||
|
Company History |
11/05/2013 Incorporated as the present name
after spin off from CHONGKUNDANG HOLDINGS
CORP.(110111-0028955) |
||||||||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Vice Chairman & CEO |
Mr. |
Kim Jung-Woo |
Male |
Korean |
11/05/2013 |
|
Vice President |
Mr. |
Kim Kyu-Don |
Male |
Korean |
11/05/2013 |
|
Director |
Mr. |
Ha Seung-Ho |
Male |
Korean |
11/05/2013 |
|
Director |
Mr. |
Kim Sung-Ki |
Male |
Korean |
11/05/2013 |
|
Director |
Mr. |
Kim Kwang-Jong |
Male |
Korean |
11/05/2013 |
|
Outside Director |
Mr. |
Lee Jong-Yoon |
Male |
Korean |
11/05/2013 |
|
Outside Director |
Mr. |
Oh Dae-Kyu |
Male |
Korean |
11/05/2013 |
|
Auditor |
Mr. |
Hwang Sung-Soo |
Male |
Korean |
- |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
09/2014 |
402,917,364,445 |
563,680,476,219 |
31,509,787,809 |
|
2013 |
86,318,151,855 |
521,951,175,416 |
4,416,973,917 |
|
Authorized Capital(KRW) |
100,000,000,000 |
|
Paid-Up Capital(KRW) |
23,522,625,000 |
|
Total Issued Shares |
9,409,050 |
|
Unit : Korean Won |
01/01/2014~09/30/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total Assets |
563,680,476,219 |
521,951,175,416 |
|
|
Current Assets |
302,956,812,525 |
255,302,621,390 |
|
|
Cash & Cash
Equivalents |
54,965,790,208 |
13,156,596,816 |
|
|
Current Financial
Instruments |
2,442,000,000 |
3,120,000,000 |
|
|
Trade Receivables |
144,820,690,820 |
150,136,651,406 |
|
|
Other Receivables |
8,299,596,244 |
10,235,643,555 |
|
|
Guarantees |
4,223,139,996 |
3,228,881,036 |
|
|
Advance Payments |
1,595,849,484 |
1,131,143,504 |
|
|
Prepaid Expenses |
3,043,831,222 |
2,895,261,765 |
|
|
Other Current Assets |
124,237,269 |
243,024,636 |
|
|
Inventories |
83,441,677,282 |
71,155,418,672 |
|
|
Non-Current Assets |
260,723,663,694 |
266,648,554,026 |
|
|
Non-Current Financial
Instruments |
916,652,200 |
1,699,495,550 |
|
|
Marketable Financial
Instruments |
8,116,016,186 |
7,357,516,397 |
|
|
Guarantees |
2,227,758,742 |
2,767,220,352 |
|
|
Tangibles |
207,615,656,864 |
214,686,281,836 |
|
|
Investment_Real
Estates |
24,639,747,404 |
22,230,331,217 |
|
|
Intangibles |
17,133,732,298 |
17,833,608,674 |
|
|
Other Investment |
74,100,000 |
74,100,000 |
|
|
Total Liabilities |
239,902,502,885 |
223,827,499,962 |
|
|
Current Liabilities |
143,298,877,899 |
130,853,061,958 |
|
|
Trade Payables |
35,635,933,837 |
34,407,243,967 |
|
|
Account Payables |
10,998,025,881 |
13,917,120,439 |
|
|
Short-Term Borrowings |
67,200,000,000 |
63,567,000,000 |
|
|
Advance Receipts |
155,880,000 |
|
|
|
Unearned Income |
705,933,852 |
308,207,102 |
|
|
Withholdings |
1,724,181,510 |
1,384,609,061 |
|
|
VAT Withhold |
5,560,996,911 |
3,556,604,171 |
|
|
Guarantees |
971,377,267 |
1,173,124,872 |
|
|
Accrued Expenses |
6,709,335,575 |
6,971,669,731 |
|
|
Deferred Income Tax
Credit |
8,083,469,178 |
165,491,637 |
|
|
Finance Guarantee Debts |
76,050,100 |
68,325,978 |
|
|
Provisions |
5,477,693,788 |
5,333,665,000 |
|
|
Non-Current
Liabilities |
96,603,624,986 |
92,974,438,004 |
|
|
Long-Term Borrowings |
57,367,000,000 |
61,000,000,000 |
|
|
Long-Term Account
Payables |
10,934,685,376 |
9,562,832,114 |
|
|
Guarantees |
353,368,009 |
113,721,976 |
|
|
Deferred Income Tax
Credit |
4,625,605,667 |
6,954,490,489 |
|
|
Confirmed Salaries |
23,322,965,934 |
15,343,393,425 |
|
|
Capital Stock |
23,522,625,000 |
23,522,625,000 |
|
|
Capital Surplus |
270,999,055,015 |
270,999,055,015 |
|
|
Others |
720,079,662 |
145,136,822 |
|
|
Profit Surplus |
28,536,213,657 |
3,456,858,617 |
|
|
Total Equity |
323,777,973,334 |
298,123,675,454 |
|
|
Liab. &
Shareholder’s Equity |
563,680,476,219 |
521,951,175,416 |
|
|
Unit : Korean Won |
01/01/2014~09/30/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
402,917,364,445 |
86,318,151,855 |
|
|
Cost of Sold Goods |
195,884,565,935 |
40,086,525,014 |
|
|
Gross Profit |
207,032,798,510 |
46,231,626,841 |
|
|
Selling & Admin.
Expenses |
161,372,716,404 |
38,692,654,234 |
|
|
Operating Income |
45,660,082,106 |
7,538,972,607 |
|
|
Finance Income |
722,336,413 |
60,322,900 |
|
|
Finance Expenses |
-4,265,724,382 |
-968,532,222 |
|
|
Non-Operating Income |
1,576,646,448 |
674,369,018 |
|
|
Non-Operating
Expenses |
-974,685,538 |
-1,297,722,085 |
|
|
Income Before Taxes |
42,718,655,047 |
6,007,410,218 |
|
|
Income Taxes Expenses |
11,208,867,238 |
1,590,436,301 |
|
|
Net Income |
31,509,787,809 |
4,416,973,917 |
|
|
Unit : Korean Won |
01/01/2014~09/30/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Operating Activities
Cash Flows |
51,471,945,945 |
9,959,708,946 |
|
|
Cash Flows from
Operating |
59,399,979,067 |
10,890,634,838 |
|
|
Net Income |
31,509,787,809 |
4,416,973,917 |
|
|
Adjustment |
40,864,634,550 |
6,047,327,352 |
|
|
Changes in Asset/
& Liability |
-12,974,443,292 |
426,333,569 |
|
|
Interests Received |
812,514,154 |
29,076,998 |
|
|
Interests Paid |
-4,114,382,051 |
-956,088,900 |
|
|
Dividends Received |
24,851,575 |
|
|
|
Income Taxes |
-4,651,016,800 |
-3,913,990 |
|
|
Cash Flows from Investing |
-6,664,271,137 |
-2,391,427,469 |
|
|
Cash Inflow from
Investing |
3,404,525,223 |
175,094,300 |
|
|
Cash Outflows for
Investing |
-10,068,796,360 |
-2,566,521,769 |
|
|
Cash Flows from Financing |
-2,821,116,600 |
-383,616,000 |
|
|
Cash Inflows from
Financing |
1,600,000,000 |
|
|
|
Cash Outflows from
Financing |
-4,421,116,600 |
-383,616,000 |
|
|
Increase/Decrease in
Cash |
41,986,558,208 |
7,184,665,477 |
|
|
Cash at the Beginning
of Year |
13,156,596,816 |
5,989,147,965 |
|
|
Cash at the End of
Year |
54,965,790,208 |
13,156,596,816 |
|
|
Main Products & Services |
Antipyretic, Digestive, Antibiotic Anthelmintics Antibiotics Antihistamines or H1 blockers Antispasmodics Cipol-N Soft Caps Cyclosporine Digestives Drugs used for respiratory tract disorders Extract Glycyrrhiza extract Hair care supplies Insecticides and insect control traps Menthol Non narcotic analgesics and antipyretics Nutritious foods and drugs Spray insecticides Tincture |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
ROCHE KYONGBO PHARM Co., Ltd.(164811-0001961) |
|
Customers |
|
|
Competitors |
DONGA PHARMACEUTICAL CO.,
LTD.(110111-0017990) YUHAN CORPORATION(110111-0014409) HANMI PHAM CO., LTD.(134811-0003187) GREEN CROSS CORPORATION(110111-0109854) |
|
Affiliates |
CHONG KUN DANG HOLDINGS CO., LTD.(110111-0028955) CHONG KUN DANG INDUSTRIES CO.,
LTD.(110111-0253437) KYONGBO PHARM CO., LTD.(164811-0001961) BELLCOM CO., LTD.(110111-2261339) CHONGKUNDANG HEALTH CARE CO.,
LTD.(135011-0049540) CKD VENTURE CAPITAL
CORPORATION(160111-0065098) CKD BIO CORPORATION(110111-2373308) KOREA HINET CO., LTD. (110111-0892136) BELL SMS CO., LTD.(110111-3483841) CKD LIVING CO., LTD.(110111-3667049) BELL I&S CO., LTD.(110111-3895913) BELL SM CO., LTD.(110111-3483841) BELL E&C CO., LTD.(EX. ANSUNG
PRECISION MACHINERY CO., LTD : 134811-0013673) EQUIS PHARMACEUTICALS. INC BARDIA FARMA SPA |
|
Sales/ Unit :Mil KRW |
09/2014 |
2013 |
2012 |
|
Export |
25,179 |
7,098 |
|
|
Domestic |
377,738 |
79,220 |
|
|
Total |
402,917 |
86,318 |
|
The Subject deals with the companies in
China, Japan, Pakistan, Vietnam and Guatemala.
There are 3 cases filed as Defendant(s)/ Debtor(s)/
Respondent(s) amounting 307,391,000 KRW.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.89 |
|
|
1 |
Rs.93.92 |
|
Euro |
1 |
Rs.72.01 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ANK |
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.