|
Report No. : |
347675 |
|
Report Date : |
29.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
SEJONG PHARMATECH CO., LTD. |
|
|
|
|
Registered Office : |
63, Annam-ro 402beon-gil, Bupyeong-gu,
Incheon, Korea, 21314 |
|
|
|
|
Country : |
South
Korea |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
08.03.1993 |
|
|
|
|
Com. Reg. No.: |
130-81-42445 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Manufacture of Containers Cleaning, Packing and Wrapping Machinery and
Charger |
|
|
|
|
No. of Employees : |
96 |
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 |
SEJONG PHARMATECH CO., LTD. (Korean Company Name : “(주)세종파마텍”) |
|
Registered Address |
63, Annam-ro 402beon-gil, Bupyeong-gu,
Incheon, Korea |
|
Building |
|
|
Zip Code |
21314 |
|
Tel |
+82-32-508-1280~7 |
|
Fax |
+82-32-508-1288~9 |
|
E-mail |
master@sejong-trading.com;sj@sjpmt.com |
|
Website |
www.sjpmt.com;www.sejong-trading.com |
|
Trading Address |
63, Annam-ro 402beon-gil, Bupyeong-gu,
Incheon, Korea (Old Address System : 419-4, Cheongcheon
2-dong, Bupyeong-gu, Incheon, Korea) |
|
Tel |
+82-32-508-1280~7 |
|
Fax |
+82-32-508-1288~9 |
|
Other Address-Techno Town Branch |
414-2, Cheongcheon-dong, Bupyeong-gu,
Incheon, Korea |
|
Tel |
|
|
Fax |
|
|
Type |
Export |
|
Industry |
Manufacture of Containers Cleaning, Packing and Wrapping Machinery and
Charger |
|
Main Business |
Automatic Capsule Filling Machine, Rotary Tablet Press, Automatic
Coating Machine, High Speed Mixer |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
03/08/1993 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Coating machines(23151502) |
|
Sell |
Battery chargers(26111704) |
|
Sell |
Batch mixers(23191000) |
|
Sell |
Form or fill or seal machinery(23152902) |
|
Sell |
Iron plate(30102203) |
|
Sell |
Hydraulic presses(27121500) |
|
Buy |
Nuts(31161700) |
|
Buy |
Aluminum(11101705) |
|
Buy |
Iron plate(30102203) |
|
Buy |
Stainless steel plate(30102205) |
|
Buy |
Bolts(31161600) |
|
Buy |
Non ferrous alloy(11101711) |
|
Name |
Lee Sang-Ho |
|
Address |
Suite 503-501, 216, Seokcheon-ro, Wonmi-gu,
Bucheon-si, Gyeonggi-do, Korea |
|
Date of Birth |
04/18/1976 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
400,000,000 |
||||||||||||||||||
|
Employees |
96 |
||||||||||||||||||
|
Formation |
Co., Ltd by shares |
||||||||||||||||||
|
Bank Details |
KEB Hana Bank-Dodang Dong Branch Shinhan Bank Kookmin Bank Woori Bank |
||||||||||||||||||
|
Corporate Registered No. |
124311-0038227 |
||||||||||||||||||
|
Business Registered No. |
130-81-42445 |
||||||||||||||||||
|
Permit & Licenses |
10/28/2005 CE 07/07/2005 ISO 14001 06/28/2005 CE 04/29/2003 ISO 9001 07/08/2002 CE 03/09/1999 CE 12/15/1998 ISO 9001 Int’l Trade No.: 11103831 |
||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||
|
Company History |
03/08/1993 Incorporated as the present name 08/30/2005 Increased the authorized shares
to 400,000 shares from 40,000 shares 08/31/2005 Increased capital to 400,000,000
KRW from 200,000,000 KRW 11/02/2005 Moved to the present HQ address
from 409-3, Cheongcheon-dong, Bupyeong-gu, Incheon, Korea |
||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lee Sang-Ho |
Male |
Korean |
01/01/2014 |
|
Director |
Mr. |
Lee Won-Woo |
Male |
Korean |
03/08/1993 |
|
Auditor |
M/S. |
Ko Han-Soon |
Female |
Korean |
03/27/2007 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
28,762,689,682 |
18,207,536,758 |
1,847,674,728 |
|
|
2013 |
26,521,236,507 |
19,933,724,258 |
3,437,908,202 |
|
2012 |
29,160,584,886 |
37,078,586,026 |
2,017,937,587 |
|
2011 |
28,897,473,765 |
34,488,616,548 |
1,229,214,298 |
|
2010 |
30,882,701,088 |
38,814,382,731 |
2,086,686,636 |
|
2009 |
26,954,518,416 |
38,515,820,278 |
1,197,215,639 |
|
2008 |
26,585,757,187 |
37,814,671,402 |
2,745,461,807 |
|
2007 |
24,804,265,938 |
16,634,091,234 |
1,937,070,433 |
|
2006 |
20,589,042,619 |
16,121,439,924 |
420,901,489 |
|
2005 |
18,955,210,622 |
14,734,763,201 |
2,219,673,878 |
|
2004 |
15,331,000,000 |
6,703,000,000 |
197,000,000 |
|
2003 |
9,378,000,000 |
6,988,000,000 |
216,000,000 |
|
Authorized Capital(KRW) |
4,000,000,000 |
|
Paid-Up Capital(KRW) |
400,000,000 |
|
Total Issues Shares |
40,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total Assets |
18,207,536,758 |
19,933,724,258 |
37,078,586,026 |
|
Current Assets |
10,197,423,372 |
11,861,199,070 |
10,668,049,437 |
|
-Quick Assets |
6,800,211,799 |
7,220,824,108 |
6,801,881,926 |
|
-Inventories |
3,397,211,573 |
4,640,374,962 |
3,866,167,511 |
|
Fixed Assets |
8,010,113,386 |
8,072,525,188 |
26,410,536,589 |
|
-Investment |
181,504,368 |
214,416,838 |
264,693,431 |
|
-Tangibles |
7,718,883,406 |
7,762,787,909 |
26,074,120,907 |
|
-Intangibles |
108,941,612 |
94,088,441 |
70,490,251 |
|
-Others |
784,000 |
1,232,000 |
1,232,000 |
|
Total Liabilities |
6,948,776,169 |
8,729,725,927 |
28,112,220,304 |
|
Current Liabilities |
4,845,600,676 |
6,583,288,793 |
25,343,601,790 |
|
Fixed Liabilities |
2,103,175,493 |
2,146,437,134 |
2,768,618,514 |
|
Capital Stock |
400,000,000 |
400,000,000 |
400,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
10,853,692,389 |
10,806,017,661 |
8,568,109,459 |
|
Capital Adjustment |
5,068,200 |
-2,019,330 |
-1,743,737 |
|
Total Equity |
11,258,760,589 |
11,203,998,331 |
8,966,365,722 |
|
Liab. & Shareholder’s Equity |
18,207,536,758 |
19,933,724,258 |
37,078,586,026 |
|
Current
Liabilities |
4,845,600,676 |
6,583,288,793 |
25,343,601,790 |
|
Trade
Payables |
1,863,901,738 |
2,326,591,354 |
4,683,638,412 |
|
Short-Term
Borrowings |
|
|
5,000,000,000 |
|
Current
Portion of Long-Term Borrowings |
333,333,332 |
333,333,332 |
12,166,666,670 |
|
Account
Payables |
744,202,447 |
696,253,485 |
1,200,730,792 |
|
Withholdings |
69,737,040 |
79,289,255 |
64,273,870 |
|
Advance
Receipts |
1,673,311,236 |
2,552,003,563 |
1,980,653,547 |
|
Accrued Expenses |
5,753 |
306,403,240 |
38,341,260 |
|
Accrued Income Tax |
161,109,130 |
289,414,564 |
209,297,239 |
|
Fixed
Liabilities |
2,103,175,493 |
2,146,437,134 |
2,768,618,514 |
|
Long-Term Borrowings |
166,666,666 |
499,999,998 |
833,333,330 |
|
Leasehold
Deposit Received |
17,511,836 |
7,213,270 |
- |
|
Leasehold Deposit Received |
|
|
841,471,119 |
|
Provision for Severance & Retirement |
933,049,316 |
1,200,294,962 |
904,006,547 |
|
Other Provisions |
985,947,675 |
438,928,904 |
189,807,518 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
28,762,689,682 |
26,521,236,507 |
29,160,584,886 |
|
Cost of Sold Goods |
17,435,249,239 |
14,977,026,250 |
16,177,249,198 |
|
Gross Profit |
11,327,440,443 |
11,544,210,257 |
12,983,335,688 |
|
Selling & Admin. Expenses |
8,413,270,158 |
8,779,573,198 |
9,713,825,232 |
|
Operating Income |
2,914,170,285 |
2,764,637,059 |
3,269,510,456 |
|
Non-Operating Income |
541,545,999 |
1,626,303,563 |
269,764,752 |
|
Non-Operating Expenses |
289,052,686 |
559,694,866 |
1,304,177,462 |
|
Income Before Taxes |
3,166,663,598 |
3,831,245,756 |
2,235,097,746 |
|
Income Taxes Expenses |
1,318,988,870 |
393,337,554 |
217,160,159 |
|
Net Income |
1,847,674,728 |
3,437,908,202 |
2,017,937,587 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Cash Flows from Operating |
-785,766,696 |
386,756,654 |
3,272,944,324 |
|
-Net Income |
1,847,674,728 |
3,437,908,202 |
2,017,937,587 |
|
-Exp. without Cash Outflow |
953,018,335 |
926,289,217 |
1,445,017,431 |
|
-Revenue without Cash Inflows |
-160,750,063 |
-1,381,860,828 |
-121,843,573 |
|
-Changes in Asset/ & Liability |
-3,425,709,696 |
-2,595,579,937 |
-68,167,121 |
|
Cash Flows from Investing |
777,139,303 |
19,787,640,795 |
-2,713,188,399 |
|
-Cash Inflow from Investing |
1,073,624,963 |
24,596,152,895 |
12,551,000 |
|
-Cash Outflows for Investing |
-296,485,660 |
-4,808,512,100 |
-2,725,739,399 |
|
Cash Flows from Financing |
-2,133,333,332 |
-18,366,666,670 |
-800,000,000 |
|
-Cash Inflows from Financing |
- |
13,000,000,000 |
2,000,000,000 |
|
-Cash Outflows from Financing |
-2,133,333,332 |
-31,366,666,670 |
-2,800,000,000 |
|
Increase/Decrease in Cash |
-2,141,960,725 |
1,807,730,779 |
-240,244,075 |
|
Cash at the Beginning of Year |
2,434,672,123 |
626,941,344 |
867,185,419 |
|
Cash at the End of Year |
292,711,398 |
2,434,672,123 |
626,941,344 |
|
Main Products & Services |
Capsule Filling Machine Automatic Coating System Rotary Tablet Press |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
|
|
Competitors |
KEUMSUNG MACHINERY CO., LTD. 6BA-504, SIHWA INDUSTRIAL COMPLEX, 683-3,
SEONGGOK-DONG, DANWON-GU, ANSAN-SI, GYEONGGI-DO, KOREA TEL:+82-31-491-5505 FAX:+82-31-491-5504 HL PHARM TECH CO., LTD. 3BA-815, SIHWA INDUSTRIAL COMPLEX, 2180-8,
JEONGWANG 1-DONG, SIHEUNG-SI, GYEONGGI-DO, KOREA TEL:+82-31-434-0126~7 FAX:+82-31-433-3157 SHINWHA PHARMA TECH 3RA-202, SIHWA INDUSTRIAL COMPLEX, 1273-1, JEONGWANG
1-DONG, SIHEUNG-SI, GYEONGGI-DO, KOREA TEL:+82-31-434-3240 FAX:+82-31-434-3239 |
|
Affiliates |
SEJONG ENGINEERING CO., LTD.(121111-0130616) SEJONG INDUSTRIAL MACHINERY CO., LTD.(121111-0130616) |
|
Overseas Office |
|
|
Major Shareholders |
|
|
Cooperative Enterprise |
-Insured Company DONGBU INSURANCE CO., LTD.(110111-0095285) |
The subject exports
to Asia including India, Europe, Africa and North America.
No.
-------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.04 |
|
|
1 |
Rs.99.58 |
|
Euro |
1 |
Rs.71.75 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.