MIRA INFORM REPORT

 

 

 

Report Date :           

17.06.2011

 

IDENTIFICATION DETAILS

 

Name :

ALPHA NETWORKS INC

 

 

Registered Office :

No.8, Li-Shing Road Vii, Hsinchu Science Park, Hsinchu, Taiwan, R.O.C.

 

 

Country :

Taiwan

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

04.09.2003

 

 

Com. Reg. No.:

12800392

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacturing and sales of switch, and modem, etc.

 

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

 

Maximum Credit Limit :

USD 8000,000

Status :

Satisfactory

Payment Behaviour :

Regular

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

 

Company Name:

Alpha Networks Inc.

Supplied Name:

Alpha Networks Inc

Trading Address:

No.8, Li-Shing Road Vii, Hsinchu Science Park, Hsinchu, Taiwan, R.O.C.

Supplied Address:

No. 8, Li-Shing 7th Road, Science-Based Industrial Park, Hsinchu 300 Taiwan

Telephone Number:

+886-3-5636666

Fax Number:

+886-3-5636789

 

 

Credit Summary

 

Credit Rating:

Maximum credit USD 8000,000

Credit Opinion:

Business connections are permissible.

 

 

Company Identification Details

 

Registered Name:

Alpha Networks Inc.

Registered Address:

No.8, Li-Shing Road Vii, Hsinchu Science Park, Hsinchu, Taiwan, R.O.C.

Date of Foundation:

2003-9-4

Registration Number:

12800392

Registry:

Science Park

Registered Capital:

NTD 6,600,000,000 (USD 229,680,000)

(As of 2011.06, 1 NTD = 0.0348 USD)

Paid-up Capital:

NTD 4,756,784,160 (USD 165,536,088.768)

Legal Representatives:

Zhongwang Li

Legal Form:

Joint Stock Company

Principal Activities:

Manufacturing and sales of switch, and modem, etc.

Staff:

More than 6,000 Employees (Global)

Listed at Stock Exchange:

Yes

Stock Code: 3380

2004, Taiwan Stock Exchange

Date of Last Annual Return:

2011-5-13

 

 

History

 

Subject was incorporated on 2003-9-4 with registered number 12800392 as Joint Stock Company in Taiwan.

Awards

Year

Awards

2007

Blue chip importer and exporter

2008

Blue chip importer and exporter

2009

Blue chip importer and exporter

 

 

Shareholders

 

Name

Subscription Shares

Zhongwang Li

4,140,533         

 

Ruixu Chen

 

161,666,452

 

Wenxian Zhang

912,114

Youmao Investment Co., Ltd

4,631,165

Notes: The information above is that of subject’s major shareholders.

 

 

Subsidiaries & Branches

 

Related Company

Name

Dongguan Youxun Electronics Co., Ltd.

Address

Xin'an Area, Chang An, Dongguan City Guangdong Province, China

Telephone Number

+86-769-85318000

Fax Number

+86-769-85319009

 

Personnel Information

 

Core Management

1

Name

Zhongwang Li

Position

Board Chairman

2

Name

Ruixu Chen

Position

Director

3

Name

Wenxian Zhang

Position

Director

4

Name

Mingfu Huang

Position

Independent Director

5

Name

Maozhao Lin

Position

Independent Director

6

Name

Youmao Investment Co., Ltd

Position

Auditor

7

Name

Jincheng Lin

Position

Auditor

Personnel Structure

Total Employees

More than 6,000 Employees (Global)

 

 

Operation Information

 

Offices & Factories

 

Headquarters

Add

No.8, Li-Shing Road Vii, Hsinchu Science Park, Hsinchu, Taiwan, R.O.C.

Production Information

l         Subject produces switch, and modem, etc.

l         The subject produces products in Taiwan.

Purchase Information

l         The components and raw material for production are mostly purchased from domestic markets.

Sales Information

l         The subject is mainly engaged in sales of switch, and modem, etc.

l         The subject sells products around the world.

 

Import and export right:

Import right

Yes

Export right

Yes

 

 

Settlements

 

Purchase

Domestic Purchase (Taiwan and Mainland, China)

Product

Payment Terms

Proportion

Raw materials

COD, etc

 

 

Foreign Purchase

The subject seldom imports.

 

Sales

Domestic Markets (Taiwan)

Product

Sales Terms

Proportion

Switch, and modem, etc

CBD, etc

100%

 

Export

Product

Sales Terms

Proportion

Switch, and modem, etc

CBD, etc

100%

 

 

Financial Information

 

Balance Sheet

Unit: NTD/000

 

2008.1.1~2008.12.31

2009.1.1~2009.12.31

2010.1.1~2010.12.31

Current Assets

9,777,349

10,767,096

11,646,678

Fund and investment

1,651,030

2,147,047

2,418,539

Fixed Assets

1,069,673

946,304

935,410

Intangible Assets

166,543

155,031

143,518

Other assets

86,302

72,663

93,743

Total Assets

12,750,897

14,088,141

15,237,888

Current liability

Before distribution

4,205,917

4,824,503

5,996,523

After distribution

4,563,561

5,427,223

－

Long-term liability

369,993

378,883

－

Other Liabilities

181,310

171,366

161,234

Total Liabilities

Before distribution

4,757,220

5,374,752

6,157,757

After distribution

5,114,864

5,977,472

－

Capital

4,487,737

4,642,035

4,711,143

Proceeds- New Issued

610

12,540

48,180

Additional paid-in capital

1,539,841

1,625,768

1,796,734

Retained Earnings

Before distribution

2,036,955

2,418,861

2,752,587

After distribution

1,679,311

1,816,141

－

Unrealized financing income

(234,122)

(100,413)

(136,875)

Cumulative translation adjustment

191,618

143,560

34,371

Treasury shares

(28,962)

(28,962)

(126,009)

Net loss not received as pension cost

－

－

－

Total Shareholders' Equity

Before distribution

7,993,677

8,713,389

9,080,131

After distribution

7,636,033

8,110,669

－

 

Profit/Loss Account

Unit: NTD/000

 

2008

2009

2010

Net Operating Income

22,832,971

(USD 794,587,390.8)

16,061,574

(558,942,775.2)

24,149,467

(USD 840,401,451.6)

Gross Trading Profit

4,093,300

3,001,670

3,780,236

Net Operating Profit (loss)

1,625,166

1,073,336

1,380,708

Non-operating Revenue And Profit

219,974

222,634

227,825

Non-Operating Expenses And Losses

581,881

326,137

590,657

Income before tax-operating department

1,263,259

969,833

1,017,876

Operating department Income

1,052,563

828,961

936,446

Non-operating department income

－

－

－

Special income

－

－

－

Cumulative effect of changes on accounting principles

－

－

－

Net income

1,052,563

828,961

936,446

Earnings per share

2.30

1.8

2.01

(As of 2011.06, 1 NTD = 0.0348 USD)

 

Bankers

 

Name

Taiwan bank

 

 

Public Record

 

Mortgage

No chattel mortgage record of subject has been found within the recent 3 months.

 

Lawsuit

Up to date of reporting, no existing or latent litigation of the subject has been found.

 

 

Interview Details

 

Name

Wenxian Zhang

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.90

UK Pound

1

Rs.72.54

Euro

1

Rs.63.39

 

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.