MIRA INFORM REPORT
|
Report Date : |
07.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
FAR EASTERN TEXTILE LTD. |
|
|
|
|
Registered Office : |
36/F., No. 207,
Section 2, Dunhua South Road, Daan District, Taipei City |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
26.02.1951 |
|
|
|
|
Com. Reg. No.: |
3522600 |
|
|
|
|
Legal Form : |
Joint Stock
Company |
|
|
|
|
Line of Business : |
Petrochemical Business; Polyester Business; Textile Business; Resources Development; Investment Activities; Apparel industry |
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 : |
Good |
|
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 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Taiwan |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Contact
Points
Notes: Subject’s exact name and address are as above.
Company
Identification Details
|
Registered Name: |
Far Eastern Textile Ltd. |
|
Registered Address: |
36/F., No. 207, Section 2, Dunhua South Road, Daan District, Taipei
City, Taiwan. |
|
Date of Foundation: |
|
|
Registration Number: |
3522600 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 49,500,000,000 (USD 1,722,600,000) (As of 2011.07, 1 NTD = 0.0348 USD) |
|
Paid-up Capital: |
NTD 47,545,799,590 (USD 1,654,593,826) |
|
Legal Representatives: |
Xudong Xu |
|
Legal Form: |
|
|
Principal Activities: |
Petrochemical Business; Polyester
Business; Textile
Business; Resources
Development; Investment Activities;
Apparel industry |
|
Staff: |
|
|
Listed at Stock
Exchange: |
Yes Stock Symbol: 1402 |
|
Date of Last
Annual Return: |
History
Subject was incorporated on
Subject was listed in the Taiwan Stock Exchange on
|
2011 |
In March, FENC has constructed, operated and
sponsored EcoARK, a exhibition hall composed of 100% recycled plastic
bottles, at the Taipei International Flora Exposition. This green
construction created several firsts in the world and the National Geographic
Channel (NGC) produced a documentary “Megastructures EcoARK” on EcoARK as
well. The show was broadcasted throughout 168 countries in 34 languages. In April, the first commercial office building of
T-Park, TPKA, officially put into operation. |
|
2010 |
In January, new shares of FENC were listed in
Taiwan Stock Exchange. In December, FENC and Sinopec Yizheng Chemical
Fibre Company Limited (YCF) have agreed to form a joint-venture company to
construct a green-field purified terepthatic acid (PTA) plant located in the
Yangzhou Chemical Industrial Park. Three parties aforesaid signed a “Letter
of Intent (LOI)” |
|
2009 |
In April, FETL built a pavilion named “Far
Eastern EcoARK” for the International Flora Expo held by the Taipei City
Government. Such pavilion built by recycled PET bricks helped promote the
awaress of conserving the environment. In October, in the Company’s Extraordinary
Shareholders’ Meeting held on 13 October 2009, shareholders presented had
resolved and approved to rename the company, from Far Eastern Textile Limited
(FETL) to Far Eastern New Century Corporation (FENC), effective on the same
date. |
|
2008 |
In March, Sino Belgium Beer (Suzhou) Ltd was
established and invested by FETL. The factory was completed in April. In
October, a beer "Martens 1758" , manufactured for Belgium Martens
beer company, was marketed in Shanghai area. In October, FETL has obtained all shares of
"Invista Far Eastern Petrochemicals Ltd."& "Far Eastern
Investa Ltd" and renamed them to " Oriental Petrochemical (Taiwan)
Co. Ltd." & " Far Eastern Fibertech Co., Ltd"
respectively. |
|
2007 |
In January, Far Eastern Resources Development Co.
which is fully owned by FETL proposed a change to the government on the urban
development plan from production factory into a telecommunication-related
specialized zone combined with a medical service center. The government has
already approved such proposal after a three-year evaluation. This land
re-zoning plan was officially announced on 23 January 2007. In June, Far Eastern (China) Investment Holding
Ltd which is invested by FETL obtained operating license In July, the long term and short term credit
rating of FETL has been rated as "twA+" and "twA-"
respectively by Taiwan Rating's Corp for the first time. |
|
2006 |
In February, The public highway electronic toll
collection system is officially activated, this system is built by FETL
invested company "Far Eastern Electronic Toll Collection Co. Ltd.". In April, Oriental Petrochemical (Shanghai)
Corporation which is invested by FETL is announced to production, with PTA
annual production capacity of 600 thousand tons to support the synthetic
fiber business under Far Eastern group and other producers. |
|
2005 |
In February, a development project " Taipei
Far Eastern Telecom Park" (T-Park) conducted by FERD was approved by
Ministry of Economic Affairs as "national major investment and major
public constructions". In April, Far Eastone Telecommunications Ltd
which is invested by FETL is passed by Taiwan Stock Exchange Corporation to
become as a public listed company. In October, FETL is awarded by Taiwan
CommonWealth Magazine as the number one "The benchmark Enterprise with
best reputation" in 2005 survey of benchmark enterprises. |
|
2004 |
In April, FETL invested company "Far Eastern
Electronic Toll Collection Co. Ltd." has signed BOT contract with
National Freeway Bureau. In October, FETL is awarded by Taiwan
CommonWealth Magazine as the number one "The benchmark Enterprise with
best reputation" in 2004 survey of benchmark enterprises. |
|
2003 |
In September, Far Eastern Resources Development
Company ("FERD") which is 100% owned by FETL was established to
transfer the book value of existing property development related businesses
to FERD in order to elaborate the related specialty and actively developing
the existing land resources. In September, FETL is awarded by Taiwan
CommonWealth Magazine as the number one "The benchmark Enterprise with
best reputation" in 2003 survey of benchmark enterprises. |
|
2002 |
In May, FETL started the installation of SAP R/3
as the ERP system with PricewaterhorseCoopers. This project will be completed
and put on line in early 2003 to help promoting internal processing
re-engineering, cost reduction and management of financial information. In, June, permission was received from the
Investment Commission, Ministry of Economic Affairs for an investment by
FETL's wholly-owned subsidiary Yuan Ding Investment Corp. to establish Far
Eastern Industries (Wuxi) Ltd. In October, a joint investment by FETL's owned
subsidiaries and Far Eastern Department Stores (“FEDS”) was completed to
acquaire the controlling interest of the SOGO Depoartment Stores. |
|
2001 |
In March, FETL-invested New Century InfoComm Tech
Co., Ltd. (NCIC) launched its variable voice and data services with
"速博sparq" as the brand name. Best quality services of
NCIC helps customers surf in an era of keen competition and rapid changes. In May, FETL bought back 38,751,000 shares of
Treasury Stocks for the second time. The use of shares bought back is
approved to issue bonus shares to employees in August. Far Eastern Industries (Shanghai) Ltd. completed
its expansion construction in September. In September, FETL bought back another 12,871,000
shares of Treasury Stocks for the third time for issuing bonus shares to
employees. Far EasTone Telecommunications Ltd. (FET),
consortium headed by the Far Eastern Group and AT&T plus other members,
successfully became a public listed company in Taiwan Stock Exchange in
December. FET is the 2nd public listed company of mobile phone services in
Taiwan. |
|
2000 |
In January, FETL issued its second convertible
bond of USD15 million. It is the first 5 - year zero coupon, zero put
structure in the world that saved countless costs for company. Far Eastern Polychem Industries Limited (FEPI),
the parent company of Far Eastern Industries (Shanghai) Ltd., was
successfully listed on the Growth Enterprise Market (GEM) of the Stock
Exchange of Hong Kong on January 31. The money raised was used for the
expansion of Far Eastern Industries (Shanghai) Ltd. for strengthening its
competitiveness. FETL-invested New Century InfoComm Tech Co., Ltd.
(NCIC) was awarded one of the three fixed line info-comm licenses in March.
This became another big step for FETL in telecommunications business. In response to the newly modified Securities and
Exchange Acts, FETL bought back in August the shares as Treasury Stocks,
which could be used for delivery of converting ECB holders' holding into
common shares. Mr. Y. Z. Hsu, Far Eastern Group founder, passed
away at the age of |
|
1999 |
FETL issued new common shares in October. Along
with shares held by Asia Cement and Far Eastern Department Stores, the total
number of shares is 14,400,000 and issued for NTD44.5/share as GDR. This
issuance not only raised the capital but also directed FETL to the
international capital market. |
|
1998 |
The FETL-invested Far Eastern Textile Industrial
(Shanghai) Co. Ltd.began trial production in September. Since this was the
last chemical fiber company to be issued a license by the mainland Chinese
authorities,after the plant begins mass production it is expected to become a
major source of reinvestment profit for FETL. Production by the ring-spindle machines at Hukou
Plant No. 8 began in November, easily absorbing the post-expansion demand for
cotton yarn materials by domestic yarn-dyed fabric plants. |
|
1997 |
In January Far EasTone Telecommunications Ltd.,
which is 62.4% owned by FETL subsidiary Yuan Ding Investment Corp., obtained
island-wide DCS and northern-region GSM mobile phone licenses from the
Directorate General of Telecommunications. This new high-tech enterprise is a
powerful stimulative force in FETL's transition into the new century, and it
provides a new model for growth as well. In July FETL carried out its first capital
increase via cash injection since 1974 by issuing 120 million ordinary shares
at a premium of NTD35, thus accumulating a total of NTD4.2 billion. This made
a great contribution to improving the company's capital structure and
strengthening its operating system, boosting its paid-in capital by a large
amount and making it one of the handful of companies in Taiwan with a
capitalization above NTD20 billion The FETL-invested Far Eastern Apparel (Suzhou)
Co. Ltd. began mass production in August, penetrating mainland Chinese
markets primarily with Paul Simon-brand underwear. |
|
1996 |
Permission was received in July from the
Investment Commission,Ministry of Economic Affairs for a joint investment of
USD30 million by FETL and its wholly-owned subsidiary Yuan Ding Investment
Corp. in the establishment of a holding company in a third area to establish
Far Eastern Industries (Shanghai) Ltd. for the production and sale of
polyester yarn, polyester filament, and other chemical fiber products. The first domestic convertible corporate bonds
were issued in July, in the amount of NTD 1.5 billion and with a face
interest rate of 0%. The holders of these bonds can choose to exchange them
for shares in two Far Eastern Group companies, Far Eastern Department Stores
or U-Ming Marine Transport Corp. |
|
1995 |
DuPont-Far Eastern Co. Ltd. was established in
cooperation with DuPont of the United States, with a projected investment of
USD100 million in the production of high-tech nylon 66. A contract was signed with ICI for the
establishment of ICI Far Eastern Ltd. to construct a PTA plant at Kuanyin in
Taoyuan County. |
|
1994 |
The Yilan and Panchiao plants of the Apparel
Division, and the Neili and Hukou plants of the Textile Division, won
ISO-9002 certification. |
|
1993 |
The Hsinpu Synthetic Fiber Plant of the Fiber
Division passed evaluation by the DNVI company to become the first chemical
fiber plant in Taiwan to win ISO-9001 certification. Completion of the various elements of the Taipei
Metro Complex began in October and the headquarters of FETL as well as of
Asia Cement and other related enterprises moved into the complex on Oct. 16
and 17,making this the locus of the Far Eastern Group. |
|
1991 |
Permission was received to carry out the first
issuance of overseas corporate bonds in the amount of USD50 million. The
bonds were fully subscribed in October that year. |
|
1990 |
Convertible bonds were issued in the amount of
NTD1.5 billion and carrying an interest rate of 4.25%. These were the first
convertible bonds to be issued in Taiwan. |
|
1988 |
To strengthen the development of uses for
polyester long-fiber cloth, a joint investment of NTD 1 billion was made
together with Hong Ho Precision Textile Co. in the establishment of Everest
Textile Co. to produce fine woven fabrics as a means of heightening the added
value of FETL products A joint investment of NTD360 million was made
together with Canada's London Life Insurance Co., Global Investment Holding
Co., Chiao Tung Bank, and Central Investment Holding Co. in the establishment
of China Investment Development Co. to engage in high-tech, real estate,and
natural resources investment. In line with the government's environmental
protection policy, an investment was made jointly with the Shin Kong Group to
establish the Taiwan Resources Recycling Co. to engage in the recycling and
handling of wastes. |
|
1987 |
The Hukou textile factory was developed, and yarn
and fabric plants were constructed there. Ground-breaking for the Taipei Metro Complex took
place in August;these mixed-use towers, with 41 stories above ground and five
below,contain offices, a shopping center, and a tourist hotel. A joint investment of NTD1 billion was carried
out with Card Freudenberg of Germany and Vilene of Japan in the establishment
of Freudenberg Far Eastern Spunweb Co. to engage in the production of
non-woven industrial fabrics and related high-tech polyester fiber products. Production technology was acquired from L'Air
Liquide International of France and a joint investment of NTD230 million was
made in the establishment of Liquid Air Far East Ltd. to produce nitrogen and
other industrial gases. To boost FETL's share of the Southeast Asian
market for PET bottles,joint investments were carried out in October with
Hong Kong and Thai companies for the establishment of P.E.T. Packaging (HK)
Ltd. and P.E.T. (Thailand) Co., respectively. |
|
1982 |
Permission was received to merge Orient Chemical
Fiber into FETL and establish the Eastman Division, which in July the
following year was merged into the Textile Division. |
|
1979 |
A textile plant belonging to the former Jung Lung
Textile was acquired and renamed the Taishan Textile Plant. |
|
1978 |
The Chungchou textile plant at Kuanyin in Taoyuan
County was purchased and renamed the Kuanyin Textile Factory. Permission was received to acquire and merge
Orient Chemical Fiber and establish a chemical fiber plant. |
|
1974 |
The Yilan apparel plant was built. |
|
1972 |
The Panchiao textile factory of Taiwan Textile
and the Neili textile plant of Yunghsing Industries were procured and added
as FETL's Panchiao and Neili textile plants. |
|
1970 |
A new spinning plant was built at Hsinpu to
produce polyethylene and acrylic fiber. |
|
1969 |
A new garment factory was constructed at Hsinpu. |
|
1967 |
Permission for stock market listing was received
in April |
|
1966 |
The headquarters was moved to Paoching Rd. in
Taipei in July. |
|
1965 |
The third synthetic fiber textile plant was
established, completing the vertical integration of FETL's processes from
spinning to weaving,dyeing and finishing, and apparel production. |
|
1964 |
The second textile plant was established to
supply yarn for FETL's own needs. |
|
1963 |
Cotton and chemical fiber facilities were
installed in response to the needs of society and the synthetic fiber
industry. |
|
1960 |
An advanced apparel plant was established. |
|
1955 |
Cotton and chemical fiber facilities were
installed in response to the needs of society and the synthetic fiber
industry. |
|
1954 |
Far Eastern Knitting and Taiwan Far Eastern
Textile were merged to form Far Eastern Textile Ltd., which was located on Yungsui
Rd. in Taipei. |
|
1953 |
The name of the company was changed to Far
Eastern Knitting Co., Ltd.;at the same time, the Taiwan Far Eastern Textile
Co., Ltd. was set up in Panchiao for the purpose of establishing a weaving
mill. |
|
1949 |
Far Eastern moved to Taiwan and installed its
knitting factory in the Taipei suburb of Panchiao, where it continued
producing and marketing knitted products. |
|
1942 |
Yu-Ziang Hsu founded Far Eastern Knitting Factory
Co., Ltd. in Shanghai to produce "Skyscraper"-brand underwear for
sale throughout the world. |
Shareholders
|
Name |
Subscription Shares |
|
Xudong Xu |
53,998,662 |
| Yue
Ding Industry Co.,Ltd |
1,675,462 |
|
1,060,713,631 |
|
|
Far Eastern Department Stores Co. Ltd. |
17,732,938 |
|
Baiyang Investment Co Ltd (Literal Translation) |
1,968,779 |
|
U-Ming Marine Transport Corporation. |
27,696,294 |
The information
above is that of subject’s major shareholders.
Subsidiaries &
Branches
Related Companies
and plants
|
Polyester
Business |
Oriental
Resources Development Ltd. |
|
Far Eastern New
Century – Kuanyin Yxturizing Plant |
|
|
Far Eastern
Eastern Fibertech Co., Ltd |
|
|
Far Eastern New
Century-Hsinpu Chemical Fiber Plant. |
|
|
Wuhan Far
Eastern New Material New Materials Ltd |
|
|
Far Eastern
Industries (Shanghai) Ltd. |
|
|
Textile Business |
Far Eastern
Industrial (Suzhou) Ltd |
|
Oriental
Industrial (Suzhou) Ltd |
|
|
Far Eastern
Industries (Wuxi) Ltd. |
|
|
Far Eastern
Apparel (Suzhou) Ltd |
|
|
Far Eastern
Dyeing & Finishing (Suzhou) Ltd |
|
|
Sino Belgium
Beer (Suzhou) Ltd |
|
|
Far Eastern New
Century-Hukou Mill |
|
|
Far Eastern New
Century –Neili Texturizing Plant |
|
|
Far Eastern New
Century-Banchiao Texturizong Plant |
|
|
FENC-Yilan
Garment Factory. |
|
|
Petrochemical Business |
Oriental
Petrochemical (Taiwan) Co., Ltd |
|
Oriental
Petrochemical (Shanghai) Corporation |
|
|
Resource Development |
Far Eastern
Construction Co., Ltd |
|
Far Eastern
General Contractor Inc. |
|
|
Far Eastern
Resources Development Co., Ltd |
Accounting firm:
|
Name: |
Deloitte &
Touche Taiwan |
Personnel
Information
Core
Management
|
1 |
|
|
Name |
Xudong Xu |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Jiayi Xi |
|
Position |
Director &
Manager |
|
Date of
Appointment: |
|
|
3 |
|
|
Name |
Xuming Xu |
|
Position |
Director |
|
4 |
|
|
Name |
Xuping Xu |
|
Position |
Director |
|
5 |
|
|
Name |
Xiaoyi Wang |
|
Position |
Director |
|
6 |
|
|
Name |
Guanjun Li |
|
Position |
Director |
|
7 |
|
|
Name |
Yuxian Zeng |
|
Position |
Director |
|
8 |
|
|
Name |
Guomei Xu |
|
Position |
Director |
|
9 |
|
|
Name |
Huiguo Yang |
|
Position |
Director |
|
10 |
|
|
Name |
Guangtao Li |
|
Position |
Director |
|
11 |
|
|
Name |
Guoming Wang |
|
Position |
Director |
|
12 |
|
|
Name |
Caixiong Zhang |
|
Position |
Supervisor |
|
13 |
|
|
Name |
Jinying Hou |
|
Position |
Supervisor |
|
14 |
|
|
Name |
Hefang Xu |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 4,500 employees |
Operation
Information
Offices
& Factories
|
|
Headquarters |
|
Add |
Production
Information
Subject’s business
can be divided into the following
|
1 |
|
|
2 |
|
|
3 |
|
|
4 |
|
|
5 |
|
|
6 |
Far Eastern Appare |
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
C801120 |
Artificial fiber manufacturing |
|
C302010 |
|
|
C305010 |
Printing and dyeing industry |
|
C306010 |
Garment Industry |
|
F401010 |
International Trading Business |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted |
l
Subject purchases raw materials both at home and
abroad.
l
The subject is mainly engaged in sales of textiles
and synthetic fiber, etc
l
Subject is also engaged in petrol chemical
industry, land developing industry and other investment, etc
l
Subject’s products are both sold in domestic and
overseas market.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Settlements
Purchase
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials |
COD, Credit Sales, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials |
CBD, etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Raw materials |
COD, CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Raw materials |
CBD, etc |
100% |
Balance
Sheet
Unit: NTD/000
|
|
|
|
|
Cash and cash
equivalents |
4,625,124 |
5,191,253 |
|
Net Notes
receivable |
659,813 |
671,152 |
|
8,767,239 |
6,570,963 |
|
|
Accounts
receivable - related parties |
239,764 |
198,929 |
|
Other
receivables |
135,772 |
335,821 |
|
Other
receivables - related parties |
216,143 |
154,079 |
|
Current assets |
22,745,407 |
19,156,284 |
|
Inventories |
7,243,548 |
5,263,742 |
|
Inventories-manufacturing |
7,243,548 |
5,263,742 |
|
Advance Payment |
339,818 |
242,998 |
|
Other current
assets-other |
502,794 |
494,145 |
|
The deferred
income tax assets-flow |
. |
93,347 |
|
Other current
assets-other |
502,794 |
400,798 |
|
Changes in the
fair value of the financial assets included in the profit and loss-flow |
15,392 |
33,202 |
|
Investment |
126,636,534 |
115,070,969 |
|
Long-term
investments at equity |
126,636,534 |
115,070,969 |
|
Financial assets
for sale-Non current |
832,282 |
617,468 |
|
financial assets
at cost – non current |
53,667 |
53,667 |
|
Fund and
investment |
127,522,483 |
115,742,104 |
|
Land |
1,428,688 |
1,072,556 |
|
Buildings and
constructures |
5,917,365 |
5,875,351 |
|
Machine
equipment |
41,477,031 |
40,609,271 |
|
Cumulative
loss-fixed assets |
-159,253 |
-1,678 |
|
Total fixed
assets cost |
51,487,674 |
50,150,276 |
|
Surplus Arising
On Revaluation |
3,016,483 |
3,016,779 |
|
Accumulated
Depreciation |
-42,350,494 |
-40,735,555 |
|
Net Fixed Assets |
14,928,165 |
13,343,659 |
|
Total cost and
Surplus Arising On Revaluation |
54,504,157 |
53,167,055 |
|
Construction in
progress and prepayments for equipment |
2,933,755 |
913,837 |
|
Construction In
Progress |
2,585,395 |
742,857 |
|
Prepayment For
Equipment |
348,360 |
170,980 |
|
Other equipments
|
2,664,590 |
2,593,098 |
|
Other intangible
assets |
21,953 |
13,167 |
|
Total intangible
assets |
21,953 |
13,167 |
|
501,156 |
675,917 |
|
|
. |
361,564 |
|
|
Other
assets-other |
516,073 |
477,528 |
|
Total other assets |
1,017,229 |
1,515,009 |
|
Total assets |
166,235,237 |
149,770,223 |
|
6,161,449 |
4,094,480 |
|
|
15,919 |
849 |
|
|
Account Payable |
4,591,028 |
2,895,088 |
|
1,430,491 |
1,038,913 |
|
|
Accrued Expenses |
2,526,221 |
1,934,649 |
|
Changes in the
fair value of the financial liability on profit and loss-flow |
33,190 |
42,817 |
|
Current
Liabilities |
19,224,275 |
16,534,947 |
|
Advance Receipts |
436,866 |
427,493 |
|
Long-Term Liabilities - Current Portion |
3,260,000 |
5,456,926 |
|
Other Current Liabilities |
769,111 |
643,732 |
|
17,210,125 |
7,800,000 |
|
|
24,359,592 |
29,609,428 |
|
|
Funded Liabilities |
41,569,717 |
37,409,428 |
|
Reserve For Land
Revaluation Increment Tax |
1,018,899 |
1,018,899 |
|
Total Reserves |
1,018,899 |
1,018,899 |
|
Prepare/accrued
retirement pension liability |
1,027,824 |
1,056,893 |
|
Deposits
Received |
615 |
18,615 |
|
Deferred Income
Tax |
59,366 |
. |
|
Other
liabilities-other |
55,503 |
52,773 |
|
Deferred
credit–interest between affiliate companies |
55,503 |
52,773 |
|
Total Other
Liabilities |
1,143,308 |
1,128,281 |
|
Total
Liabilities |
62,956,199 |
56,091,555 |
|
Ordinary Share
Capital |
47,545,799 |
46,613,529 |
|
Share Capital |
47,545,799 |
46,613,529 |
|
932,814 |
932,814 |
|
|
9,302,599 |
9,352,038 |
|
|
7,672 |
7,672 |
|
|
10,243,085 |
10,292,524 |
|
|
9,413,371 |
8,602,110 |
|
|
Special Reserves |
3,139,460 |
3,034,766 |
|
For not retained
earnings |
19,606,993 |
11,682,676 |
|
Total Retained
earnings |
32,159,824 |
23,319,552 |
|
Cumulative Translation
Adjustments |
-489,070 |
2,279,413 |
|
Net loss not
recognized as pension cost |
-98,177 |
-82,953 |
|
of financial instruments |
5,266,521 |
2,535,384 |
|
Unrealized
revaluation value |
8,651,056 |
8,721,219 |
|
Total
shareholders’ equity and other adjustment |
13,330,330 |
13,453,063 |
|
New Issued
(under stockholders' equity section) shares Equivalents (Unit: Shares) |
- |
-. |
|
Treasury Stock
of held by parent company also as held by subsidiaries (Unit: Shares) |
- |
-. |
|
Total
shareholders’ equity |
103,279,038 (USD 3,594,110,522) |
93,678,668 (USD 3,260,017,646) |
(As of 2011.07, 1
NTD = 0.0348 USD)
Profit and
Loss Account
Unit: NTD/000
|
|
|
|
|
15,721,005 (USD 547,090,974) |
12,052,829 (USD 419,438,449) |
|
|
Net Sales
Revenue |
15,718,024 |
12,049,307 |
|
Total Sales
Revenue |
15,850,021 |
12,141,561 |
|
Sales Returns |
131,997 |
92,254 |
|
Total Service
income |
2,981 |
3,522 |
|
Total operating
costs |
14,027,716 |
10,899,480 |
|
Cost Of Goods
Sold |
14,025,286 |
10,895,657 |
|
Total Labour
costs |
2,430 |
3,823 |
|
Gross profit
(loss) |
1,693,289 |
1,153,349 |
|
Total operating
expenses |
1,138,256 |
1,145,535 |
|
Distribution
cost |
659,875 |
731,926 |
|
General
Andadministrative Expenses |
338,097 |
287,426 |
|
Research And
Development Expenses |
140,284 |
126,183 |
|
Operating Income
(loss) |
555,033 |
7,814 |
|
Non-operating
revenue and profit |
4,722,410 |
2,281,760 |
|
3,976 |
1,438 |
|
|
Income From
Investment |
4,696,764 |
2,199,321 |
|
Investment
Income Recognized Under Equity Method |
4,696,764 |
2,199,321 |
|
Sanctions Fixed
Assets Interests |
2,199 |
4,582 |
|
Rental Receipts |
2,558 |
2,603 |
|
Financial assets
evaluation interests |
. |
23,874 |
|
Financial
liabilities interests evaluation |
. |
16,108 |
|
Miscellaneous
Income |
16,913 |
33,834 |
|
Non-operating
expenses and losses |
192,270 |
291,340 |
|
158,458 |
131,885 |
|
|
3,869 |
107,642 |
|
|
Financial assets
evaluation loss |
7,509 |
. |
|
Miscellaneous
spending |
22,434 |
51,813 |
|
5,085,173 |
1,998,234 |
|
|
318,162 |
-12,498 |
|
|
Continuing
Operations' Unit net income (loss) |
4,767,011 |
2,010,732 |
|
Net income
(loss) |
4,767,011 (USD 165,891,983) |
2,010,732 (USD 69,973,474) |
|
Basic earnings
per share |
1 |
0 |
|
Dilute earning
per share (Unit: NTD) |
1.00 |
0 |
(As of 2011.07, 1 NTD = 0.0348 USD)
Bankers
Subject declined to disclose its bank details; from other source we can
not obtain the relevant information, either.
Public
Record
Mortgage
No chattel mortgage record of subject has been found within the recent 3
months.
Lawsuit
|
Trial Number: |
100,司北勞簡調,28 |
|
Trial Date |
1000413 |
|
Reason: |
Payment of
penalty |
Interview
Details
|
Department |
Sales department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.38 |
|
UK Pound |
1 |
Rs.71.24 |
|
Euro |
1 |
Rs.64.16 |
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.