|
Report No. : |
311446 |
|
Report Date : |
12.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
CKD
BIO CORPORATION |
|
|
|
|
Registered Office : |
8, Chungjeong-Ro, Seodaemun-Gu, Seoul,
Chongkundang Bldg., Korea 120-756 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
30.09.2014 |
|
|
|
|
Date of Incorporation : |
12.11.2001 |
|
|
|
|
Com. Reg. No.: |
110-81-53652 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Medicinal Chemicals and Antibiotics. |
|
|
|
|
No. of Employees : |
281 |
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 |
CKD
BIO CORPORATION (Trade
Name : CKD BIO) |
|
Registered Address |
8, Chungjeong-ro,
Seodaemun-gu, Seoul, Korea |
|
Building |
Chongkundang Bldg. |
|
Zip Code |
120-756 |
|
Tel |
+82-2-2194-0555 |
|
Fax |
+82-2-2194-0556 |
|
E-mail |
intl@ckdbio.com |
|
Website |
www.ckdbio.com |
|
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 |
+82-2-2194-0555 |
|
Fax |
+82-2-2194-0556 |
|
Other Address-Ansan Factory |
16B-20,
454, Mongnae-dong, Danwon-gu, Ansan-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-489-1173 |
|
Fax |
+82-31-489-1166 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Medicinal Chemicals and Antibiotics |
|
Main Business |
Raw Material, Medicine, Acarbose, Potassium Clavulanate, DMCT,
Tacrolimus, Cyclosporin |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
11/12/2001 |
The Subject owns
the premises of Ansan Factory.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Antibiotics(51101500) |
|
Sell |
Antacids and antiflatulents(51171500) |
|
Sell |
Drugs and Pharmaceutical Products(51000000) |
|
Sell |
Antifungal drugs(51101800) |
|
Sell |
Anthelmintics and other antiparasitics(51101700) |
|
Name |
Kang Hee-Il |
|
Address |
|
|
Date of Birth |
12/16/1953 |
|
Title |
Vice President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
13,073,722,500 |
||||||||||||||||||||||||||||||||||||
|
Employees |
281 |
||||||||||||||||||||||||||||||||||||
|
Formation |
Listed Company (Korea Stock Exchange : 063160)
as of 12/11/2001 A Company of Chong Kun Dang Group |
||||||||||||||||||||||||||||||||||||
|
Bank Details |
Woori Bank-Seodaemun Corporate Finance
Center |
||||||||||||||||||||||||||||||||||||
|
Corporate Registered No. |
110111-2373308 |
||||||||||||||||||||||||||||||||||||
|
Business Registered No. |
110-81-53652 |
||||||||||||||||||||||||||||||||||||
|
Permit & Licenses |
03/2005 Acquired COS on Potassium Clavulanate |
||||||||||||||||||||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||||||||||||||||||||
|
Company History |
11/2002 Incorporated as spinning off from
CKD Pharm. 11/2001 Awarded The Presidential Prize on
Environmental Technology from the Ministry of Environment 11/2001 Designated as a Leading Company in
exporting of Parts & Materials by the Ministry of Industry &
Resources 12/2001 Listed at KSE 03/2004 Designated as the next
generation’s 1st class products, Potassium Clavulanate 03/2005 Acquired COS on Potassium Clavulanate 11/2010 Awarded US$ 100 Million Export Top
Prize 03/24/2014 Changed Korean company name to
“(주)종근당바이오” from “종근당바이오(주)” |
||||||||||||||||||||||||||||||||||||
|
|
|
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education |
|
Vice President & CEO |
Mr. |
Kang Hee-Il |
Korean |
1953.12.16 |
Seoul national University, Korea |
|
Director |
Mr. |
Lee Soo-Han |
Korean |
1963.05 |
Dankuk University, Korea |
|
Director |
Mr. |
Yoon Jae-Hoon |
Korean |
1965.12 |
Sogang University, Korea |
|
Outside Director |
Mr. |
Kim Young-Chan |
Korean |
1954.10 |
Dongduck University, Korea |
|
Auditor |
Mr. |
Ahn Dong-Myung |
Korean |
1955.12 |
Yonsei University, Korea |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
81,401,313,260 |
164,943,491,766 |
-939,630,930 |
|
|
(*)2013 |
100,370,797,418 |
175,499,039,405 |
1,657,448,854 |
|
(*)2012 |
113,759,577,682 |
185,424,862,991 |
7,101,290,078 |
|
(*)2011 |
110,527,721,445 |
198,292,672,038 |
10,920,596,374 |
|
2010 |
121,568,351,961 |
118,267,533,188 |
14,375,712,177 |
|
2009 |
106,553,579,320 |
111,260,253,039 |
16,183,929,127 |
|
2008 |
83,393,221,679 |
94,850,023,744 |
8,737,628,538 |
|
2007 |
66,409,840,687 |
84,953,644,909 |
-3,273,391,605 |
|
2006 |
72,197,255,948 |
94,264,058,866 |
428,646,943 |
|
2005 |
64,360,882,458 |
100,680,943,036 |
-13,363,505,377 |
|
2004 |
68,718,195,340 |
107,594,102,819 |
1,105,026,359 |
(*)Figures are
based on the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
32,000,000,000 |
|
Paid-Up Capital(KRW) |
13,073,722,500 |
|
Total Issues Shares |
5,229,489 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
01/01/2014~09/30/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total
Assets |
164,943,491,766 |
175,499,039,405 |
185,424,862,991 |
|
Current
Assets |
71,666,048,672 |
76,606,964,573 |
79,486,939,498 |
|
Cash
& Cash Equivalents |
9,494,092,621 |
10,347,477,214 |
17,169,829,931 |
|
Current
Financial Instruments |
330,000,000 |
0 |
0 |
|
Trade
Receivables & Other Receivables |
30,724,679,638 |
28,695,100,602 |
29,829,619,436 |
|
Inventories |
30,705,758,914 |
37,131,136,888 |
31,873,290,937 |
|
Other
Current Assets |
411,517,499 |
433,249,869 |
614,199,194 |
|
Non-Current Assets |
93,277,443,094 |
98,892,074,832 |
105,937,923,493 |
|
Non-Current
Financial Instruments |
978,000,000 |
894,000,000 |
342,000,000 |
|
Marketable
Financial Instruments |
18,600,000 |
18,600,000 |
18,600,000 |
|
Long-Term
Trade Receivables & Other Receivables |
1,348,639,400 |
1,335,339,400 |
1,330,399,400 |
|
Tangibles |
90,870,983,385 |
96,561,154,490 |
104,105,996,653 |
|
Intangibles |
61,220,309 |
82,980,942 |
140,927,440 |
|
Total Liabilities |
42,560,064,753 |
51,624,969,386 |
61,277,558,167 |
|
Current Liabilities |
27,318,431,862 |
33,440,801,883 |
41,390,338,439 |
|
Trade
Payables & Other Payables |
15,956,623,238 |
19,032,560,291 |
17,240,687,281 |
|
Short-Term
Borrowings |
11,058,353,945 |
13,723,128,881 |
23,078,955,891 |
|
Other
Current Liabilities |
260,627,394 |
594,340,459 |
921,754,787 |
|
Deferred
Income Tax Credit |
42,827,285 |
90,772,252 |
148,940,480 |
|
Non-Current Liabilities |
15,241,632,891 |
18,184,167,503 |
19,887,219,728 |
|
Long-Term
Trade Payables & Other Payables |
509,456,429 |
520,288,318 |
280,194,901 |
|
Long-Term
Borrowings |
282,000,000 |
3,452,598,000 |
5,585,130,000 |
|
Confirmed
Salaries |
4,057,340,114 |
3,035,624,189 |
2,881,089,188 |
|
Other
Non-Current Liabilities |
369,643,967 |
412,483,787 |
411,666,927 |
|
Deferred
Income Tax Credit |
10,023,192,381 |
10,763,173,209 |
10,729,138,712 |
|
Capital Stock |
13,073,722,500 |
13,073,722,500 |
13,073,722,500 |
|
Capital
Surplus |
25,748,502,109 |
25,748,502,109 |
25,748,502,109 |
|
Profit
Surplus |
83,561,202,404 |
85,051,845,410 |
85,325,080,215 |
|
Total
Equity |
122,383,427,013 |
123,874,070,019 |
124,147,304,824 |
|
Liab.
& Shareholder’s Equity |
164,943,491,766 |
175,499,039,405 |
185,424,862,991 |
|
Income Statement |
|||
|
Unit : Korean Won |
01/01/2014~09/30/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
81,401,313,260 |
100,370,797,418 |
113,759,577,682 |
|
Cost
of Sold Goods |
74,091,920,879 |
85,669,732,227 |
90,849,917,636 |
|
Gross
Profit |
7,309,392,381 |
14,701,065,191 |
22,909,660,046 |
|
Selling
& Admin. Expenses |
8,860,684,538 |
12,752,508,202 |
14,110,411,394 |
|
Operating
Income |
-1,551,292,157 |
1,948,556,989 |
8,799,248,652 |
|
Finance
Income |
961,124,483 |
1,168,954,380 |
1,471,204,084 |
|
Finance
Expenses |
1,246,216,264 |
2,080,430,069 |
3,151,772,424 |
|
Non-Operating
Income |
313,743,768 |
1,221,115,397 |
1,001,697,538 |
|
Non-Operating
Expenses |
85,141,561 |
354,984,043 |
1,787,839 |
|
Income
Before Taxes |
-1,607,781,731 |
1,903,212,654 |
8,118,590,011 |
|
Income
Taxes Expenses |
-668,150,801 |
245,763,800 |
1,017,299,933 |
|
Net
Income |
-939,630,930 |
1,657,448,854 |
7,101,290,078 |
|
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 |
8,987,370,726 |
10,924,090,046 |
22,900,061,374 |
|
Cash Flows from Operating |
9,269,572,030 |
11,557,212,209 |
23,851,131,381 |
|
Net Income |
-939,630,930 |
1,657,448,854 |
7,101,290,078 |
|
Adjustment |
9,118,789,054 |
13,548,045,213 |
14,645,572,127 |
|
Changes in Asset/ & Liability |
1,090,413,906 |
-3,648,281,858 |
2,104,269,176 |
|
Interests Received |
127,929,245 |
335,030,848 |
406,363,994 |
|
Interests Paid |
-301,091,689 |
-737,635,637 |
-1,247,360,094 |
|
Income Taxes |
-109,038,860 |
-231,717,374 |
-111,273,907 |
|
Dividends Received |
0 |
1,200,000 |
1,200,000 |
|
Cash Flows from Investing |
-3,322,805,660 |
-4,630,208,449 |
-3,470,655,177 |
|
Cash Flows from Financing |
-6,528,413,720 |
-13,100,037,553 |
-5,466,223,903 |
|
Increase/Decrease in Cash |
-863,848,654 |
-6,806,155,956 |
13,963,182,294 |
|
Cash at the Beginning of Year |
10,347,477,214 |
17,169,829,931 |
3,297,609,256 |
|
Cash at the End of Year |
9,494,092,621 |
10,347,477,214 |
17,169,829,931 |
(*)These figures
are based on the K-IFRS Accounting System.
|
Main Products & Services |
Potassium Clavulanate, DMCT, Rifampicin,
Cyclosporin,Tacrolimus |
||||||||||||||||||||||||||||
|
Annual Production Capacity (Unit : Kg) |
|
||||||||||||||||||||||||||||
|
Technologies Acquired |
|
|
Suppliers |
DONG SUH ONG(DOMESTIC) UNI CHEMA(OVERSEAS) KYUNGDONG CERAMIC(DOMESTIC) YUSUNG FOODS(DOMESTIC) DONG WOO SHIN TECH(DOMESTIC) NIPPON SODA(OVERSEAS) CRODA(UK) |
|
Customers |
Major Pharmaceutical Companies |
|
Competitors |
YUHAN CORPORATION 49-6, DAEBANG-DONG, DONGJAK-GU, SEOUL,
KOREA TEL:+82-2-828-0181 FAX:+82-2-828-0300 YUHAN CHEMICAL INC. 5BA-402, SIHWA INDUSTRIAL COMPLEX, 678-1,
SEONGGOK-DONG, DANWON-GU, ANSAN-SI, GYEONGGI-DO, KOREA TEL:+82-31-488-5800 FAX:+82-31-499-4115 KUNWHA PHARMACEUTICAL CO., LTD. 94, GARAKBON-DONG, SONGPA-GU, SEOUL, KOREA TEL:+82-2-2047-7700 FAX:+82-2-430-1135 |
|
Affiliates |
CHONGKUNDANG
HOLDINGS CORP.(110111-0028955) CHONG KUN DANG PHARMACEUTICAL
CORP.(110111-5260669) CHONG KUN DANG INDUSTRIES CO., LTD.(110111-0253437) BELLCOM CO., LTD.(110111-2261339) CHONGKUNDANG HEALTH CARE CO.,
LTD.(135011-0049540) BELL E&C CO., LTD.(134811-0013673) CKD VENTURE CAPITAL CORPORATION(160111-0065098) BELL SM CO., LTD.(110111-3483841) BELL I&S CO., LTD.(110111-3895913) KYOUNGBO CHEMICAL CO., LTD.
(164811-0001961) BARDIA FARMA S.P.A EQUIS PHARMACEUTICALS, INC |
|
Overseas Office |
|
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
|
|
Subsidiary |
CKD LIVING CO., LTD.(110111-3667049) (10.00% held by the
subject company) |
|
Corporate Ownership |
|
|
Major Shareholders |
|
|
Cooperative Enterprise |
|
|
Sales/ Unit : Million KRW |
09/2014 |
2013 |
2012 |
|
Export |
61,418 |
73,337 |
83,237 |
|
Domestic |
19,983 |
27,034 |
30,523 |
|
Total |
81,401 |
100,371 |
113,760 |
The subject exports
about 30 kinds of raw materials and finished products to USA, China, South
America, Middle East, Africa and Europe.
No.
----------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.75 |
|
|
1 |
Rs.94.60 |
|
Euro |
1 |
Rs.67.10 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.