MIRA
INFORM REPORT
|
Report Date : |
29.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
LI PENG ENTERPRISE CO., LTD. |
|
|
|
|
Registered Office : |
6F, No.162 Sung Chiang Rd., Taipei |
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|
|
Country : |
Taiwan |
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|
|
Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
20.08.1975 |
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Com. Reg. No.: |
33955322 |
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Legal Form : |
Joint Stock Company |
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|
|
Line of Business : |
Manufacture and trade of Nylon. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 300,000 |
|
Status : |
Moderate |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Exists |
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 |
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Restricted |
C2 |
|
Off-credit |
D |
Contact Points
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Company Name: |
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Supplied Name: |
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Trading Address: |
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Supplied Address: |
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Telephone Number: |
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Fax Number: |
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E-mail: |
Credit Summary
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Credit Rating: |
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Credit Opinion: |
Company Identification Details
The staff number
is not available from the subject or other sources.
History
Subject was incorporated on
Subject was listed on Taiwan Stock Exchange on
Awards
|
Year |
Awards |
|
2007 |
Blue chip importer and exporter |
|
2008 |
Blue chip importer and exporter |
|
2009 |
Blue chip importer and exporter |
Standard of Blue
chip importer and exporter
Unit:
USD
|
Year |
Amount |
|
2007 |
18,000,000 |
|
2008 |
19,000,000 |
|
2009 |
15,000,000 |
Shareholders
|
Subscription
Number |
|
|
Shaoyi Guo |
9,583,841 |
|
LeaLea Enterprise Co., Ltd. |
|
|
99,661,624 |
|
|
Binghuang Chen |
43,192 |
|
Jiwang Guo |
286,000 |
|
Zhiyuan Xie |
60,548 |
|
Junnan Guo |
9,583,317 |
The information
above is that of subject’s major shareholders.
Subsidiaries & Branches
Related Companies
|
1 |
|
|
Name |
LeaLea Enterprise Co., Ltd. |
|
E-mail: |
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|
2 |
|
|
Name |
Libolon International Trading Co., Ltd. |
|
E-mail: |
|
Personnel Information
Core
Management
Directors
|
1 |
|
|
Name |
Shaoyi Guo |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Yanlin Chen |
|
Position |
Director |
|
3 |
|
|
Name |
Binghuang Chen |
|
Position |
Director |
|
4 |
|
|
Name |
Jiwang Guo |
|
Position |
Director |
|
5 |
|
|
Name |
Zhiyuan Xie |
|
Position |
Director |
|
6 |
|
|
Name |
Junnan Guo |
|
Position |
Supervisor |
|
7 |
|
|
Name |
Minglang Zhan |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
Operation Information
Offices
& Factories
|
|
Headquarters |
|
Add |
Production
Information
l
Subject is a manufacturer of Nylon, nylon yarn, woven fabrics and filament
with some production activities
Purchase
Information
l
The registered activities of subject:
|
Details |
|
A variety of printing paper, graph paper, dye, paper
products, printed version of the plate, printing and manufacturing trading. |
|
Man-made fiber materials, synthetic materials and
their processed products manufacturing, trading business. |
l
The components and raw material for production are purchased
from both local Taiwan and abroad.
l
Subject is mainly involved in trading of Nylon
products.
l
In 2007, subject had their brand LIBOLON
l
Subject obtained many certifications and awards,
such as ISO9001 Quality Management, ISO14001 Environmental Management,
OSHAS18001 safety and health management system and so on.
l
Subject’s selling territory is all over the world.
l
Subject introduced that they at least sell the
nylon products 27,000 ton per month.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Settlements
Purchase
l
Subject declined to disclose the information on
purchase settlements.
Sales
Domestic Markets (Taiwan)
|
Sales Terms |
Proportion |
|
|
Nylon |
COB, etc. |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Nylon |
T.T in advanced,
L/C, etc. |
100% |
Balance Sheet
Unit: NTD
|
|
|
|
|
Cash and cash equivalents |
298,007 |
254,684 |
|
Net Notes receivable |
108,394 |
61,960 |
|
Notes receivable - related parties |
245 |
. |
|
4,022,988 |
4,127,113 |
|
|
Accounts receivable - related parties |
69,409 |
71,774 |
|
Other financial assets - current |
116,463 |
142,006 |
|
Current assets |
7,747,622 |
7,129,592 |
|
Inventories |
2,499,471 |
2,290,865 |
|
Other Current assets |
114,666 |
47,381 |
|
Other current assets-other |
114,666 |
47,381 |
|
Fair value through profit or loss financial
assets - current |
517,979 |
133,809 |
|
Investment |
2,315,347 |
1,482,181 |
|
Long-term investments at equity |
2,315,347 |
1,482,181 |
|
Financial assets for sale-Non current |
916,492 |
582,859 |
|
financial assets at cost – non current |
70,938 |
59,073 |
|
Fund and investment |
3,302,777 |
2,124,113 |
|
Land |
1,048,050 |
1,048,050 |
|
Buildings and constructures |
2,243,048 |
2,241,297 |
|
machine equipment |
7,238,051 |
7,300,304 |
|
Storage equipment |
57,112 |
56,371 |
|
Office Equipment |
75,936 |
76,222 |
|
Fixed assets total cost |
12,621,298 |
12,649,888 |
|
Value through revaluation |
-7,896,503 |
-7,355,699 |
|
Net Fixed Assets |
4,750,319 |
5,355,330 |
|
Total Cost and value through revaluation |
12,621,298 |
12,649,888 |
|
Leasehold improvements |
13,156 |
13,156 |
|
construction in progress and prepayments for
equipment |
25,524 |
61,141 |
|
Other devices |
1,945,945 |
1,914,488 |
|
Computer software costs |
48,390 |
49,880 |
|
Deferred Pension Costs |
. |
1,785 |
|
Total Intangible Assets |
48,390 |
51,665 |
|
1,003 |
1,555 |
|
|
27,214 |
28,314 |
|
|
101,702 |
269,068 |
|
|
Other assets - other |
89 |
2,088 |
|
Restricted assets |
. |
2,000 |
|
Other assets - other |
89 |
88 |
|
Total other assets |
130,008 |
301,025 |
|
Total assets |
15,979,116 |
14,961,725 |
|
Short-term borrowings |
735,000 |
2,077,779 |
|
Short-term bills payable |
368,000 |
654,000 |
|
Notes payable |
57,707 |
46,057 |
|
Notes payable - related parties |
29,561 |
31,400 |
|
2,301,024 |
2,004,409 |
|
|
94,058 |
99,362 |
|
|
52,135 |
. |
|
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Fair value through profit or loss Financial
liabilities - current |
52 |
1,506 |
|
411,000 |
. |
|
|
current liabilities |
4,895,700 |
5,842,185 |
|
331,778 |
377,603 |
|
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One year or one operating cycle of long-term debt
due within |
408,695 |
473,458 |
|
106,690 |
76,611 |
|
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Other Current Liabilities–Others |
106,690 |
76,611 |
|
1,251,457 |
1,423,708 |
|
|
Long Term Liabilities |
1,251,457 |
1,423,708 |
|
Reserve for retirement allowance／accrued pension liabilities |
175,215 |
172,000 |
|
1,515 |
1,532 |
|
|
Other liability–Others |
260 |
260 |
|
Deferred credit–interest between affiliate
companies |
260 |
260 |
|
Total Other Liabilities |
176,990 |
173,792 |
|
Total Liabilities |
6,324,147 |
7,439,685 |
|
Ordinary Share Capital |
6,528,665 |
6,528,665 |
|
Equity |
6,528,665 |
6,528,665 |
|
1,243,245 |
1,243,245 |
|
|
Capital surplus - treasury stock transactions |
124,316 |
1,947 |
|
1,994 |
21,316 |
|
|
Total capital reserve |
1,369,555 |
1,266,508 |
|
314,223 |
314,223 |
|
|
Special reserve |
842,847 |
1,118,239 |
|
Not appropriated retained earnings |
955,550 |
-361,791 |
|
Cumulative Translation Adjustments |
2,112,620 |
1,070,671 |
|
Net loss not recognized as pension cost |
-7,680 |
-2,561 |
|
of
financial instruments |
-35,462 |
-40,126 |
|
Unrealized revaluation value |
112,439 |
-684,548 |
|
Treasury Stock |
-425,168 |
-616,569 |
|
Total shareholders’ equity and other adjustment |
-355,871 |
-1,343,804 |
|
New Issued (under stockholders' equity section)
shares Equivalents (Unit: Shares) |
. |
. |
|
Treasury Stock of held by parent company also as
held by subsidiaries (Unit: Shares) |
73,175,490 |
106,125,490 |
|
Total shareholders’ equity |
9,654,969 |
7,522,040 |
Profit And Loss Accounts
Unit: NTD
|
|
To |
To |
|
6,464,286 |
6,172,827 |
|
|
Net Sales Revenue |
6,464,286 |
6,172,827 |
|
Total Sales Revenue |
6,486,582 |
6,192,495 |
|
Sales discounts and allowances |
10,104 |
14,224 |
|
Sales allowances |
12,192 |
5,444 |
|
Total operating costs |
5,887,160 |
5,629,923 |
|
Cost of goods sold |
5,887,160 |
5,629,923 |
|
Gross Profit (Loss) |
577,126 |
542,904 |
|
Total operating expenses |
144,730 |
163,477 |
|
Marketing costs |
86,158 |
107,720 |
|
General and administrative expenses |
43,547 |
38,507 |
|
Research and development expenses |
15,025 |
17,250 |
|
Operating income (loss) |
432,396 |
379,427 |
|
Operating income and interest |
137,693 |
22,227 |
|
Interest income |
34 |
5 |
|
Investment income |
. |
3,894 |
|
Equity method investment earnings |
. |
3,894 |
|
The interests of disposal of fixed assets |
12,825 |
10 |
|
Distribution Cost |
4,527 |
8,131 |
|
Foreign exchange gain |
18,616 |
2,467 |
|
Rental income |
4,716 |
4,445 |
|
Income on valuation of financial liabilities |
94,101 |
867 |
|
Miscellaneous Income |
2,874 |
2,408 |
|
Operating costs and losses |
84,497 |
19,046 |
|
Interest expense |
13,170 |
16,757 |
|
Investment losses |
70,670 |
. |
|
Equity-method investment loss |
70,670 |
. |
|
Loss on valuation of financial liabilities |
52 |
1,379 |
|
Miscellaneous expenses |
605 |
910 |
|
485,592 |
382,608 |
|
|
77,800 |
2,500 |
|
|
Continuing Operations' Unit net income (loss) |
407,792 |
380,108 |
|
Net income (loss) |
407,792 |
380,108 |
|
Basic earnings per share |
1 |
1 |
|
Dilute earning per share (Unit: NTD) |
0.67 |
. |
Bankers
Subject declined to
disclose any information on Bankers, and we couldn’t obtain the information
from other sources.
Public Record
Mortgage
No chattel mortgage record of subject has been found within the recent 3
months.
Lawsuit
|
Number |
92,北簡,26567 |
|
Date |
|
|
Cause |
Suspended Payment |
Interview Details
|
Name |
Mr. Guo |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.12 |
|
|
1 |
Rs.72.05 |
|
Euro |
1 |
Rs.63.33 |
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.