|
Report No. : |
346936 |
|
Report Date : |
24.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
KYUNG DONG
PHARMACEUTICAL CO., LTD. |
|
|
|
|
Registered Office : |
224-3, Jeyakdanji-ro, Yanggam-myeon, Hwaseong-si, Gyeonggi-do, Korea |
|
|
|
|
Country : |
South
Korea |
|
|
|
|
Financials (as on) : |
30.06.2015 |
|
|
|
|
Date of Incorporation : |
12.02.1976 |
|
|
|
|
Com. Reg. No.: |
124-81-35518 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Finished Medicaments |
|
|
|
|
No. of Employees : |
503 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 economic 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. A system of close government and business ties,
including directed credit and import restrictions, initially 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 7% 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 over 6% growth in
2010. The US-Korea Free Trade Agreement was ratified by both governments in
2011 and went into effect in March 2012. Between 2012 and 2014, the economy
experienced slow growth due to sluggish domestic consumption and investment.
The administration in 2015 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 the heavy reliance on exports, which comprise about half of
GDP. In an effort to address the long term challenges and sustain economic
growth, the current government has prioritized structural reforms,
deregulation, promotion of entrepreneurship and creative industries, and the
competitiveness of small and medium enterprises.
|
Source
: CIA |
|
Company Name |
KYUNG DONG
PHARMACEUTICAL CO., LTD. (Korean Company
Name : “경동제약(주)”) |
|
Registered Address |
224-3, Jeyakdanji-ro, Yanggam-myeon,
Hwaseong-si, Gyeonggi-do, Korea (Old Address System : 535-3, Daeyang-ri,
Yanggam-myeon, Hwaseong-si, Gyeonggi-do, Korea) |
|
Building |
|
|
Zip Code |
18631 |
|
Tel |
+82-31-352-0990 |
|
Fax |
+82-31-352-0991 |
|
E-mail |
moses@kdpharma.co.kr |
|
Website |
www.kdpharma.co.kr |
|
Trading Address |
9 FL., Kyung Dong Bldg., 1926,
Nambusunhwan-ro, Gwanak-gu, Seoul, Korea (Old Address System : 9 FL., Kyung Dong Bldg.,
1659-5, Inhun-dong, Gwanak-gu, Seoul, Korea) |
|
Tel |
+82-2-576-6121~5 +82-2-570-6135 |
|
Fax |
+82-2-577-5195 +82-2-576-8815 |
|
Other Address |
|
|
Tel |
|
|
Fax |
|
|
Type |
Export/Import |
|
Industry |
Manufacture of Finished Medicaments |
|
Main
Business |
Anti-Hypertensive Agent, GI Tract Regulator Antiulcerants,
Anti-microbials, Circulatory Agents, Non-steroidal Anti-inflammatory Drugs,
Psychoneural Agent, Anti-spasmodics, Hepatitis Agent |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
02/12/1976 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Antibiotics(51101500) |
|
Sell |
Antimycotics(41106201) |
|
Sell |
Diuretics(51191500) |
|
Sell |
Antiulcer and related gastrointestinal GI
drugs(51171900) |
|
Sell |
Non narcotic analgesics and
antipyretics(51142000) |
|
Sell |
Antidiabetic agents and hyperglycemic
agents(51181500) |
|
Sell |
Drugs affecting the gastrointestinal
system(51170000) |
|
Buy |
Amides or imides(12352111) |
|
Buy |
Centrally acting skeletal muscle
relaxants(51151900) |
|
Buy |
Anti oxidants(12162200) |
|
Buy |
Drugs used for gallbladder disease(51172000) |
|
Buy |
Terbinafine hydrochloride(51101818) |
|
Buy |
Vitamin supplements(51191905) |
|
Buy |
Neomycin(51101513) |
|
Buy |
Centella asiatica extract(51212002) |
|
Buy |
Organic acids or its substitutes(12352106) |
|
Buy |
Methocarbamol(51151904) |
|
Buy |
Acyclovir(51102301) |
|
Buy |
Biochemicals(12352200) |
|
Buy |
Amino acids or its derivatives(12352209) |
|
Buy |
Chemicals including Bio Chemicals and Gas
Materials(12000000) |
|
Name |
Ryu Deok-Hee |
|
Address |
|
|
Date of Birth |
05/20/1938 |
|
Title |
Chairman & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
13,575,000,000 |
||||||||||||||||||||||||||||||
|
Employees |
503 |
||||||||||||||||||||||||||||||
|
Formation |
Listed Company (KOSDAQ : 011040) as of 12/18/1992 |
||||||||||||||||||||||||||||||
|
Bank Details |
Industrial Bank of Korea-Daechi Station
Branch Kookmin Bank |
||||||||||||||||||||||||||||||
|
Corporate Registered No. |
120111-0003765 |
||||||||||||||||||||||||||||||
|
Business Registered No. |
124-81-35518 |
||||||||||||||||||||||||||||||
|
Permit & Licenses |
Int’l Trade No.: 590754 |
||||||||||||||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||||||||||||||
|
Company History |
09/1975 Established as YOOIL Sangsa
Co.(Sole Proprietorship) 02/12/1976 Incorporated as the present name 11/2001 Awarded US$1 Million Export Top
Prize 11/30/2007 Awarded US$ 3 Million Export top
Prize 11/2011 Awarded US$ 5 Million Export Top
Prize 12/2013 Awarded US$ 10 Million Export Top
Prize 12/2014 Awarded US$ 20 Million Export Top
Prize |
||||||||||||||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education/Career |
|
Chairman
& CEO |
Mr. |
Ryu Deok-Hee |
Korean |
1938. 05. 20 |
Sungkyunkwan University, Korea |
|
President
& CEO |
Mr. |
Lee
Byeong-Seok |
Korean |
1953. 12. 28 |
Sungkyunkwan University, Korea |
|
Vice
President & CEO |
Mr. |
Ryu Ki-Sung |
Korean |
1982. 06. 21 |
Gangnam University, Korea |
|
Sr.
Executive Director |
Mr. |
Nam Ki-Cheol |
Korean |
1957. 10. 11 |
Kyung Dong College, Korea |
|
Outside
Director |
Mr. |
Lee Soon-Bo |
Korean |
1944. 06. 04 |
Prof., of Sungkyunkwan University, Korea |
|
Outside
Director |
Mr. |
Cha Dong-Ok |
Korean |
1955. 12. 16 |
Prof., of Sungkyunkwan University, Korea |
|
Auditor |
Mr. |
Lee Jae-Bok |
Korean |
1940. 01. 06 |
Sungkyunkwan University, Korea |
|
Auditor |
M/S. |
Lee Sung-Ja |
Korean |
1944.01 |
Gaphyung High, Korea |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
72,446,124,145 |
230,147,494,901 |
10,327,830,951 |
|
|
(*)2014 |
152,237,085,914 |
223,515,358,821 |
24,960,169,920 |
|
(*)2013 |
132,437,150,528 |
196,693,747,473 |
18,742,272,734 |
|
(*)2012 |
122,700,571,017 |
185,621,030,826 |
7,961,490,781 |
|
(*)2011 |
127,481,498,458 |
185,585,286,709 |
20,243,397,618 |
|
(*)2010 |
124,208,804,478 |
170,978,576,471 |
19,164,049,976 |
|
2009 |
104,209,578,276 |
159,958,722,100 |
13,475,481,524 |
|
2008 |
81,300,438,387 |
122,925,203,001 |
11,434,908,292 |
(*)Figures are based
on the K-IFRS Accounting System.
|
Authorized Capital(KRW) |
30,000,000,000 |
|
Paid-Up Capital(KRW) |
13,575,000,000 |
|
Total Issues Shares |
13,275,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
01/01/2015~06/30/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Total Assets |
230,147,494,901 |
223,515,358,821 |
196,693,747,473 |
|
Current Assets |
90,880,505,384 |
99,222,872,771 |
103,300,773,572 |
|
Cash & Cash Equivalents |
15,971,315,095 |
18,253,789,036 |
20,894,007,884 |
|
Current Financial Instruments |
29,578,887,010 |
36,978,887,010 |
44,556,622,125 |
|
Trade Receivables |
14,361,546,648 |
17,751,431,030 |
14,462,449,699 |
|
Other Receivables |
3,599,875,654 |
3,794,731,214 |
1,964,592,462 |
|
Inventories |
26,868,228,260 |
22,380,470,384 |
21,368,600,444 |
|
Other Current Assets |
500,652,717 |
63,564,097 |
54,500,958 |
|
Non-Current Assets |
139,266,989,517 |
124,292,486,050 |
93,392,973,901 |
|
Non-Current Financial Instruments |
35,850,678,700 |
23,815,712,500 |
10,502,511,782 |
|
Other Receivables |
89,000,000 |
60,000,000 |
315,000,000 |
|
Tangibles |
68,151,859,799 |
65,308,380,925 |
47,661,436,513 |
|
Investment_Real Estates |
27,809,024,909 |
27,944,657,538 |
29,027,158,780 |
|
Intangibles |
3,827,408,398 |
3,599,922,856 |
3,041,054,595 |
|
Investment_Subsidiaries |
3,529,291,684 |
3,529,291,684 |
2,761,291,684 |
|
Other Non-Current Assets |
9,726,027 |
34,520,547 |
84,520,547 |
|
Total Liabilities |
31,238,020,139 |
33,057,903,147 |
27,365,854,078 |
|
Current Liabilities |
24,031,695,445 |
27,829,254,877 |
22,706,559,620 |
|
Trade Payables |
6,119,490,363 |
10,925,520,167 |
7,725,828,760 |
|
Other Payables |
7,791,478,975 |
6,964,919,291 |
4,993,541,586 |
|
Short-Term Borrowings |
93,036,361 |
71,885,030 |
99,565,444 |
|
Deferred Income Tax Credit |
6,183,699,159 |
5,974,595,539 |
5,371,997,000 |
|
Provisions |
1,908,464,016 |
1,541,183,616 |
1,849,837,647 |
|
Other Current Liabilities |
1,935,526,571 |
2,351,151,234 |
2,665,789,183 |
|
Non-Current Liabilities |
7,206,324,694 |
5,228,648,270 |
4,659,294,458 |
|
Other Non-Current Liabilities |
1,227,819,872 |
879,425,097 |
1,989,862,655 |
|
Confirmed Salaries |
2,069,361,393 |
1,534,510,154 |
27,712,613 |
|
Deferred Income Tax Credit |
3,909,143,429 |
2,814,713,019 |
2,641,719,190 |
|
Capital
Stock |
13,575,000,000 |
13,575,000,000 |
13,575,000,000 |
|
Capital Surplus |
7,497,029,610 |
7,497,029,610 |
7,497,029,610 |
|
Others |
-21,423,156,714 |
-21,423,156,714 |
-21,423,156,714 |
|
Installments |
11,727,736,606 |
7,698,984,969 |
3,504,620,613 |
|
Profit Surplus |
187,532,865,260 |
183,109,597,809 |
166,174,399,886 |
|
Total Equity |
198,909,474,762 |
190,457,455,674 |
169,327,893,395 |
|
Liab. & Shareholder’s Equity |
230,147,494,901 |
223,515,358,821 |
196,693,747,473 |
|
Income Statement |
|||
|
Unit : Korean Won |
01/01/2015~06/30/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Sales |
72,446,124,145 |
152,237,085,914 |
132,437,150,528 |
|
Cost
of Sold Goods |
26,793,690,632 |
62,155,426,659 |
52,516,477,113 |
|
Gross
Profit |
45,652,433,513 |
90,081,659,255 |
79,920,673,415 |
|
R&D |
2,036,012,283 |
4,178,293,383 |
3,665,993,929 |
|
Selling
& Admin. Expenses |
27,372,869,311 |
50,710,996,621 |
45,716,698,269 |
|
Operating
Income |
16,243,551,919 |
35,192,369,251 |
30,537,981,217 |
|
Other
Income |
231,905,221 |
278,913,369 |
5,047,804,887 |
|
Other
Expenses |
1,278,370,233 |
2,903,727,063 |
6,483,646,112 |
|
Finance
Income |
962,146,599 |
2,061,546,352 |
2,416,478,564 |
|
Finance
Expenses |
50,726,437 |
241,067,548 |
218,615,680 |
|
Income
Before Taxes |
16,108,507,069 |
34,388,034,361 |
31,300,002,876 |
|
Income
Taxes Expenses |
5,780,676,118 |
9,427,864,441 |
12,557,730,142 |
|
Net
Income |
10,327,830,951 |
24,960,169,920 |
18,742,272,734 |
|
Cash Flows |
|||
|
Unit : Korean Won |
01/01/2015~06/30/2015 |
As of 12/31/2014 |
As of 12/31/2013 |
|
Operating
Activities Cash Flows |
7,839,264,999 |
23,787,212,620 |
15,641,665,292 |
|
Net Income |
10,327,830,951 |
24,960,169,920 |
18,742,272,734 |
|
Adjustment |
3,124,890,699 |
8,397,354,623 |
16,668,823,886 |
|
Income Taxes |
-5,613,456,651 |
-9,570,311,923 |
-19,769,431,328 |
|
Cash Flows from Investing |
-5,373,059,312 |
-21,349,439,192 |
-6,432,549,679 |
|
Cash Flows from Financing |
-4,765,719,888 |
-5,078,113,223 |
-3,569,908,878 |
|
Increase/Decrease in Cash |
-2,282,473,941 |
-2,640,218,848 |
5,633,961,270 |
|
Cash at the Beginning of Year |
18,253,789,036 |
20,894,007,884 |
15,260,046,614 |
|
Cash at the End of Year |
15,971,315,095 |
18,253,789,036 |
20,894,007,884 |
|
Main Products & Services |
Anti-Hypertensive Agent, GI Tract Regulator
Antiulcerants, Anti-microbials, Circulatory Agents, Non-steroidal
Anti-inflammatory Drugs, Psychoneural Agent, Anti-spasmodics, Hepatitis Agent |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
|
|
Competitors |
DAEWOONG PHARMA CO., LTD.(134811-0075342) 223-23, SANGDAEWON 1-DONG, JUNGWON-GU, SEONGNAM-SI, GYEONGGI-DO, KOREA TEL:+82-31-741-7700~4
FAX:+82-31-749-5535 ILDONG PHARMACEUTICAL CO., LTD(110111-0012776) 60, YANGJAE 1-DONG, SEOCHO-GU, SEOUL, KOREA TEL:+82-2-526-3114
FAX:+82-2-526-3030 DONGWHA PHARM IND CO., LTD.(110111-0043870) 5, SUNHWA-DONG, JUNG-GU, SEOUL, KOREA TEL:+82-2-2021-9300 FAX:+82-2-776-7873 |
|
Affiliates |
JCPHARM CO., LTD.(135511-0164372) DAE IL YANG HANG CO., LTD.(130111-0217839) |
|
Overseas Office |
|
|
Liaison Office |
|
|
Overseas Branch |
|
|
Joint Venture |
|
|
Subsidiary |
BUZRUN CO., LTD.(110111-1329584) (67.0% held by the subject company) RYUIL INTERNATIONAL,INC(USA) (100.0% held by the subject company) KD PHARMA CO., LTD.(134811-0263377) (73.0% held by the subject company) KYUNG DONG SPORTS CO., LTD.(110111-1329584) |
|
Corporate Ownership |
|
|
Major Shareholders |
|
|
Cooperative Enterprise |
|
|
Sales/ Unit :Mil KRW |
09/2012 |
2011 |
2010 |
|
Export |
8,421 |
9,408 |
|
|
Domestic |
84,205 |
118,073 |
|
|
Total |
92,626 |
127,481 |
|
The Subject deals with
the companies in China, India, Japan, Pakistan, Phi8lippines, Vietnam and UAE.
No.
--------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.88 |
|
|
1 |
Rs.99.89 |
|
Euro |
1 |
Rs.72.06 |
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
|
|
|
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.