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MIRA INFORM REPORT
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Report No. : |
486762 |
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Report Date : |
19.01.2018 |
IDENTIFICATION DETAILS
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Name : |
SAMYANG BIOPHARMACEUTICALS CORPORATION |
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Registered Office : |
31, Jong-Ro 33-Gil, Jongno-Gu, Seoul,
Korea 03129 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
11.03.2011 |
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Com. Reg. No.: |
101-86-66823 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Manufacture of Medical Materials and
Pharmaceuticals. (Transdermal Patches, Injections, Active
Pharmaceutical Ingredients, Medical Devices.) |
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No. of Employees : |
265 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
South Korea |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 2016, the economy experienced slow growth – 2%-3% per year - due to sluggish domestic consumption, a drop in foreign demand for South Korean exports, increased competition from regional rivals such as China and Japan, and declining investment. The administration in 2016 faced the challenge of balancing heavy reliance on exports with domestic restructuring efforts in the country’s shipbuilding and shipping industries.
The South Korean economy's short-term challenges include a potential loss of consumer confidence due to issues with its mobile phone industry, as well as uncertainty stemming from a tumultuous domestic political situation. In the long-term, South Korea must deal with a rapidly aging population, inflexible labor market, dominance of large conglomerates (chaebols), and the heavy reliance on exports, which comprise more than 40% of GDP. South Korea’s low overall unemployment rate masks problems with high youth unemployment, low worker productivity, high labor underutilization, and low female participation in the workforce. The government has tried to implement structural reforms, but continues to face significant headwind from vested interests. Finally, the country could eventually face an unprecedented financial burden in the event the unification of the Korean Peninsula were to occur.
|
Source
: CIA |
Basic
Information
|
Company Name |
SAMYANG BIOPHARMACEUTICALS CORPORATION |
|
Registered Address |
31, Jong-ro 33-gil, Jongno-gu, Seoul,
Korea (Old Address System : 263, Yeonji-dong, Jongno-gu,
Seoul, Korea) |
|
Building |
-- |
|
Zip Code |
03129 |
|
Tel |
+82-2-740-7116 +82-2-740-7114 |
|
Fax |
+82-2-743-6626 +82-2-740-7140 |
|
E-mail |
hwaseong.lee@samyang.com |
|
Website |
www.samyangbiopharm.com |
|
Trading Address |
295, Pangyo-ro, Bundang-gu, Seongnam-si,
Gyeonggi-do, Korea (Old Address System : 693, Sampyeong-dong,
Bundang-gu, Seongnam-si, Gyeonggi-do, Korea) |
|
Tel |
+82-2-2157-9111 |
|
Fax |
+82-2-2157-9062 |
|
Other Address-Bio Research Center |
730, Daedeok-daero, Yuseong-gu, Daejeon,
Korea (Old Address System : 63-2, Hwaam-dong,
Yuseong-gu, Daejeon, Korea) |
|
Tel |
+82-42-865-8114 |
|
Fax |
+82-42-865-8499 |
|
Other Address-Factory |
79, Sinildong-ro, Daedeok-gu, Daejeon,
Korea (Old Address System : 1688-3, Sinil-dong,
Daedeok-gu, Daejeon, Korea) |
|
Tel |
+82-42-930-9303 |
|
Fax |
+82-42-934-1403 |
|
Other Address-MD Factory |
55, Munpyeongseo-ro 18beon-gil, Daedeok-gu,
Daejeon, Korea (Old Address System : 48-4, Munpyeong-dong,
Daedeok-gu, Daejeon, Korea) |
|
Tel |
+82-42-930-3114 |
|
Fax |
+82-42-931-6439 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Medical Materials and
Pharmaceuticals |
|
Main Business |
Transdermal Patches, Injections, Active Pharmaceutical
Ingredients, Medical Devices |
|
Sub
Business |
-- |
|
Established (mm/dd/yyyy) |
11/03/2011 |
Detailed
Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Dietary supplements and nutritional therapy products(51191900) |
|
Sell |
Antineoplastic antibiotics(51111700) |
CEO’s
|
Name |
Eom Tae-Woong |
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Date of Birth |
12/10/1960 |
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Title |
President & CEO |
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Nationality |
Korean |
Profiles
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Capital (KRW) |
17,219,955,000 |
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Employees |
265 |
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Formation |
Co., Ltd by Shares A Company of SAMYANG BUSINESS GROUP |
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Bank Details |
KEB Hana Bank |
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Corporate Registered No. |
110111-4720953 |
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Business Registered No. |
101-86-66823 |
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Permit & Licenses |
Int’l Trade No.: 30701195 |
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Shareholder Position |
|
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Company History |
11/03/2011 Incorporated as the present name
after split off Medical Business from SAMYANG HOLDINGS
CORPORATION(110111-0026181) 07/01/2013 Acquired SAMYANG GENEXBIO CO., LTD.(110111-4834168) 07/02/2013 Increased capital to 17,219,955,000
KRW from 10,500,000,000 KRW 07/02/2013 Increased the authorized shares to 5,000,000 shares from
2,0000,000 shares |
Management
|
Job Description |
Name |
Nationality |
Date of Birth |
Inauguration Date |
|
President & CEO |
Eom Tae-Woong |
Korean |
12/10/1960 |
12/01/2014 |
|
Director |
Choi Ho-Joon |
Korean |
10/25/1961 |
07/01/2013 |
|
Director |
Lee Sang-Hoon |
Korean |
06/05/1975 |
03/22/2017 |
|
Auditor |
Jin Ji-Young |
Korean |
05/25/1977 |
03/22/2017 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2016 |
70,300,453,912 |
243,550,031,455 |
8,570,645,304 |
|
2015 |
62,634,198,808 |
233,795,629,243 |
4,738,896,743 |
|
2014 |
57,185,700,336 |
232,128,040,741 |
14,891,997,641 |
|
2013 |
50,672,130,497 |
226,048,698,532 |
4,193,145,064 |
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2012 |
44,130,364,668 |
111,752,751,134 |
5,710,982,629 |
|
2011 |
6,507,857,800 |
109,002,017,871 |
951,868,898 |
Financial
Description
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Authorized Capital(KRW) |
25,000,000,000 |
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Paid-Up Capital(KRW) |
17,219,955,000 |
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Total Issued Shares |
3,443,991 |
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Balance Sheet |
|||
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Unit : Korean Won |
As of 12/31/2016 |
As of 12/31/2015 |
As of 12/31/2014 |
|
Total
Assets |
243,550,031,455 |
233,795,629,243 |
232,128,040,741 |
|
Current Assets |
56,881,837,184 |
81,733,930,077 |
72,125,258,318 |
|
Cash
& Cash Equivalents |
24,796,421,735 |
6,334,692,560 |
11,941,948,222 |
|
Trade
Receivables & Other Receivables |
10,087,163,505 |
9,688,761,709 |
8,025,402,163 |
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Current
Financial Instruments |
5,000,000,000 |
49,000,000,000 |
35,020,085,935 |
|
Inventories |
15,429,816,077 |
15,013,068,241 |
15,768,000,959 |
|
Other
Current Assets |
1,568,435,867 |
1,697,407,567 |
1,369,821,039 |
|
Non-Current Assets |
186,668,194,271 |
152,061,699,166 |
160,002,782,423 |
|
Tangibles |
105,880,338,079 |
73,438,855,750 |
74,266,548,526 |
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Intangibles |
1,188,795,537 |
732,555,919 |
1,402,572,662 |
|
Investment_Real
Estates |
3,124,299,830 |
3,188,190,110 |
3,252,080,390 |
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Investment_Related
Companies |
421,806,105 |
421,806,105 |
421,806,105 |
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Other Long-Term Receivables |
95,432,000 |
974,188,000 |
1,012,767,000 |
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Marketable
Financial Instruments |
75,603,655,326 |
71,952,812,482 |
79,641,007,740 |
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Other
Non-Current Financial Assets |
5,000,000 |
6,000,000 |
6,000,000 |
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Other
Non-Current Assets |
57,660,690 |
81,522,540 |
- |
|
Deferred
Income Tax Assets |
291,206,704 |
1,265,768,260 |
- |
|
Total Liabilities |
22,762,255,496 |
24,856,075,396 |
21,318,374,906 |
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Current Liabilities |
16,178,737,501 |
17,454,525,569 |
14,467,366,812 |
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Trade
Payables & Other Payables |
11,228,836,582 |
12,729,250,270 |
8,646,521,321 |
|
Short-Term
Borrowings |
192,438,551 |
285,363,436 |
32,568,356 |
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Other
Current Finance Liabilities |
27,417,776 |
3,528,825 |
- |
|
Accrued
Income Tax |
561,503,853 |
551,879,337 |
2,385,063,453 |
|
Other
Current Liabilities |
4,168,540,739 |
3,884,503,701 |
3,403,213,682 |
|
Non-Current Liabilities |
6,583,517,995 |
7,401,549,827 |
6,851,008,094 |
|
Other Long-Term Payables |
2,957,080,542 |
2,141,527,507 |
1,799,411,837 |
|
Provision
for Severance & Retirement |
3,178,517,939 |
5,260,022,320 |
4,226,840,655 |
|
Deferred
Income Tax Credit |
447,919,514 |
- |
824,755,602 |
|
Capital Stock |
17,219,955,000 |
17,219,955,000 |
17,219,955,000 |
|
Capital
Surplus |
162,751,266,432 |
162,751,266,432 |
162,751,266,432 |
|
Others |
3,954,409,954 |
1,106,752,536 |
7,103,544,838 |
|
Profit
Surplus |
36,862,144,573 |
27,861,579,879 |
23,734,899,565 |
|
Total
Equity |
220,787,775,959 |
208,939,553,847 |
210,809,665,835 |
|
Liab.
& Shareholder’s Equity |
243,550,031,455 |
233,795,629,243 |
232,128,040,741 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2016 |
As of 12/31/2015 |
As of 12/31/2014 |
|
Sales |
70,300,453,912 |
62,634,198,808 |
57,185,700,336 |
|
Cost
of Sold Goods |
33,854,591,427 |
33,929,443,814 |
30,476,703,552 |
|
Gross
Profit |
36,445,862,485 |
28,704,754,994 |
26,708,996,784 |
|
Selling
& Admin. Expenses |
30,776,872,447 |
26,552,360,330 |
26,171,883,612 |
|
Operating
Income |
5,668,990,038 |
2,152,394,664 |
537,113,172 |
|
Finance
Income |
1,536,610,251 |
2,378,499,410 |
17,298,805,572 |
|
Finance
Expenses |
359,387,025 |
147,650,205 |
112,820,080 |
|
Non-Operating
Income |
4,031,104,445 |
4,258,346,855 |
2,806,412,054 |
|
Non-Operating
Expenses |
2,042,036,080 |
3,384,851,304 |
2,879,148,299 |
|
Income
Before Taxes |
8,835,281,629 |
5,256,739,420 |
17,650,362,419 |
|
Income
Taxes Expenses |
264,636,325 |
517,842,677 |
2,758,364,778 |
|
Net
Income |
8,570,645,304 |
4,738,896,743 |
14,891,997,641 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2016 |
As of 12/31/2015 |
As of 12/31/2014 |
|
Operating Activities Cash Flows |
14,252,610,563 |
7,801,775,974 |
2,380,876,729 |
|
Cash
Flows from Operating |
13,175,181,668 |
8,215,918,621 |
817,866,898 |
|
Interests
Paid |
-5,559,249 |
-4,285,445 |
-4,970,080 |
|
Interests
Received |
636,149,438 |
864,146,669 |
1,449,586,954 |
|
Dividends
Received |
651,733,700 |
1,303,467,400 |
828,546,800 |
|
Income
Taxes |
-204,894,994 |
-2,577,471,271 |
-710,153,843 |
|
Cash Flows from Investing |
3,829,766,382 |
-13,456,482,337 |
-7,736,363,810 |
|
Cash
Inflow from Investing |
50,929,809,560 |
153,838,671,794 |
71,846,734,488 |
|
Cash
Outflows for Investing |
-47,100,043,178 |
-167,295,154,131 |
-79,583,098,298 |
|
Cash Flows from Financing |
- |
- |
- |
|
Cash
Inflows from Financing |
- |
- |
- |
|
Cash
Outflows from Financing |
- |
- |
- |
|
Increase/Decrease in Cash |
18,162,390,582 |
-5,652,475,886 |
-5,457,434,649 |
|
Cash at the Beginning of Year |
6,634,031,153 |
12,286,507,039 |
17,743,941,688 |
|
Cash at the End of Year |
24,796,421,735 |
6,634,031,153 |
12,286,507,039 |
Products, Technologies, Services
Description
|
Main Products & Services |
Research and development of innovative technology platforms for drug
delivery and novel application of its expertise in biopolymers for developing
biomedical devices |
Trade
Partners & Competitors
|
Suppliers |
-- |
|
Customers |
-- |
|
Competitors |
KOLON LIFE SCIENCE INC. 9TH FL., KOLON TOWER, 13, KOLON-RO,
GWACHEON-SI, GYEONGGI-DO, KOREA TEL:+82-2-3677-4150 FAX:+82-2-3677-4159 KPX LIFE SCIENCE CO., LTD. 230-7, HWACHI-DONG, YEOSU-SI, JEOLLANAM-DO,
KOREA TEL:+82-61-688-4600 FAX:+82-61-688-4619 |
Related Parties (Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
AKINA, INC. (22.54% held by the subject company) SAMYANG CORPORATION(110111-4720945) SAMYANG HOLDINGS CORPORATION(110111-0026181) SAMNAM PETROCHEMICAL CO.,
LTD.(110111-0557061) SAMYANG DATA SYSTEMS INC.(110111-1153545) SAMYANG INNOCHEM CO., LTD.(211111-0028151) SAMYANG FINE TECHNOLOGY CORPORATION(211111-0040056) SAMYANG F&B CO., LTD.(110111-2376716) SAM YANG KASEI CO., LTD.(110111-0614556) HUVIS CORPORATION(110111-2102070) KYUNGWON CONSTRUCTION CO., LTD.(131111-0000164) |
|
Subsidiary |
SAMYANG RESEARCH CORPORATION(USA) (100.0% held by the subject company) |
|
Corporate Ownership |
SAMYANG HOLDINGS
CORPORATION(110111-0026181) |
|
Major Shareholders |
SAMYANG HOLDINGS
CORPORATION(110111-0026181) |
|
Cooperative Enterprise |
- Exclusive Sublicense Agreement with COMPLIMENT CORPORATION(USA) |
Sales
by Region (Activity & Markets)
Not Available.
Court
Action
No.
News
Clipping
------------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.84 |
|
|
1 |
INR 88.28 |
|
Euro |
1 |
INR 77.88 |
|
KRW |
1 |
INR 0.060 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.