MIRA INFORM REPORT
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Report Date : |
10.03.2011 |
IDENTIFICATION DETAILS
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Name : |
MOTECH INDUSTRIES INC |
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Registered Office : |
6fl, 248 Pei Shen Rd Section 3 Shenkeng Hsiang, |
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Country : |
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Financials (as on) : |
30.06.2009 |
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Date of Incorporation : |
03.06.1981 |
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Com. Reg. No.: |
20889546 |
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Legal Form : |
Public Company |
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Line of Business : |
Research and development of technologies related to measurement instruments
and solar cells |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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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 |
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Maximum Credit Limit : |
USD 15,000,000 |
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Status : |
Good |
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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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address
MOTECH
INDUSTRIES INC
6FL, 248 PEI SHEN RD SECTION 3 SHENKENG
HSIANG
TEL: 886-2-26625093 FAX: 886-2-26625097
EXECUTIVE SUMMARY
INCORPORATION DATE : JUNE 3, 1981
REGISTRATION NO. : 20889546
LEGAL FORM :
PUBLIC COMPANY
CHIEF EXECUTIVE :
MR. SIMON YUAN-HUAI TSO (CHAIRMAN)
STAFF STRENGTH :
1,386
PAID-UP CAPITAL :
NTD 3,011,173,340
BUSINESS LINE :
MANUFACTURER
TURNOVER :
NTD 6,828,104,000 (AS OF JUNE 30, 2009)
EQUITIES :
NTD 12,759,309,000 (AS OF JUNE 30, 2009)
PAYMENT :
EXCELLENT
RECOMM.
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : GOOD
EXCHANGE RATE :
TWD 29.34125 = US$1
Adopted abbreviations
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
TWD –
Name in Local Language : 茂迪股份有限公司
*OTHER LICENSES*
=================
License Number : 16130514
Date of Registration : 24 June, 1999
Issuing Authority : Ministry of Economic Affairs
*Company History*
==============
1981 - Founded, and specialized
in researching of high-end test and in the design, manufacturing, marketing,
and service of measuring instruments.
1997 - Motech Solar Electricity
Division (Motech Solar) was established, and was the pioneer of
manufacturing and marketing high-quality
single and multi-crystalline silicon solar cells in
5
February, 1999- The foundation stone of the Solar Cell Division was laid down
in TainanSciencePark
2000 - Became
the first company in
2001 - Average
efficiency of multi-crystalline silicon solar cells reached 13%.
2002 - Average
efficiency of multi-crystalline silicon solar cells reached 14%.
- Successfully developed and released
2003 - Began
the production of mono-crystalline solar cells.
- Average
efficiency of multi-and mono-crystalline silicon solar cells reached 14.5% and
15.5%
respectively
15
May, 2003 - Became a publicly traded
company on
6244).
2004 -
Increased the annual output to 35 MWp.
- Annual production
capacity reached 50 MWp with the installation of the 3rd production line.
- Motech Solar was
earmarked on the top 10 solar cell manufacturers by Photon Magazine.
November 2004 - The pilot line of
wafer slicing began operation
2005 - Average efficiency of
multi- and mono-crystalline silicon solar cells reached 15.5% and 16.5% and
above respectively.
- Started the
construction of the second factory building in Tainan Science-Based Industrial
Park.
- Increased the
annual solar cell production capacity to 100 MW with an actual solar cell
output of 60
MWp at the end of the year.
- Became
-
Became one of the top 10 producers of solar cells in the world
- Motech Power
Division was established. The specialty was to market, design and install solar
electricity systems that reduce the
environmental impact of generating electricity around the globe.
The total installation of solar electricity
systems in
2006 - Completed the construction
of the second factory building in Tainan Science-Based Industrial Park.
- Increased the
total production capacity to 200 MWp at the end of the year after the
installation of the
4th production line and the completion of
the second factory.
-
Became the 7th largest solar cell manufacturer in the world.
-
Inverter certified for VDE, German.
- The installation
of solar electricity systems upped to 327KW and market share was over 70% in
26 October, 2006 - LOI with AE POLYSILICON CORP,
2007 - Total
production reached at 176 MW.
-
Established MotechR&DCenter.
- Became the first
ISO 14001:2004 and the OHSAS 18001: 1999.certified Solar Cell Manufacturer in
-
Become the 6th largest solar cell manufacturer in the world.
-
Motech received solar system installation order from
27 August, 2007 - Held ground-breaking ceremony of Motech's Kunshan
production facility
5 March, 2008 - Signed a Two
Polysilicon Agreement with DC Chemical
12
March, 2008 - Selected as one of the Top
100 most desired companies for young people to work for in 2008
29
April, 2008 - Set up new center to
research ways to convert sunshine into clean, low-cost electricity and fuel
September 2008 - Fab
equivalent to those of Fab1 and Fab
*Company Name*
==============
Incorporated as : METER
INT'L CORP
Date of incorporation : 3 June, 1981
Changed name to : MOTECH
INDUSTRIES INC
Year of change :
1998
*Company Registration*
===================
(1)
License number : 20889546
Date issued : 3 June,
1981
Issuing authority : Ministry of
Economic Affairs
(2)
License number : 16130514
Date issued : 24 June,
1999
Issuing authority : Ministry of
Economic Affairs
Type of license :
*Licenses & Permits*
================
(1)
License number : 9960296200
Date issued : 7 September,
1991
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
(2)
License number : 94B0002001
Date issued : 3 August,
2000
Issuing authority : Industrial Development Bureau, MOEA
Type of license : Factory
license
(3)
License number :
Date issued : 3 August,
2000
Issuing authority : Ministry of Economic Affairs (MOEA)
Type of license : Factory
license
(4)
License number :
Date issued : 3 August,
2000
Issuing authority : Ministry of Economic Affairs (MOEA)
Type of license : Factory
license
*Capital Details*
=============
Authorized capital : NTD 3,500,000,000.00
Initial paid-capital : NTD 2,000,000.00
Paid-up capital increases as follows :
Date
Increase (NTD)
-----
------------------------
1988
10,000,000.00
1991
30,000,000.00
1994
39,600,000.00
1998 125,780,000.00
2000
171,534,510.00
2001
189,190,550.00
838,908,400.00
- 1,200,000,000.00
2006
1,260,000,000.00
- 1,407,653,800.00
- 2,000,000,000.00
- 2,062,515,920.00
- 2,495,050,920.00
2009
2,497,236,920.00
- 2,500,000,000.00
- 3,011,173,340.00
*Office & Facilities*
===============
Size : 580
sq. meters
Location :
Type of building : Industrial building
Property status : Owned by
MOTECH INDUSTRIES INC
Comment : - Premises
is shared with the following subsidiary companies :
- MOTECH INSTRUMENTS
- MOTECH POWER
- Serves as office and factory 1
Other contact details
----------------------------
Tel no. : 2-26625194
E-mail : instrument@motech.com.tw
Website: www.motech.com
*Factory Contact Details*
===================
Address : 6Fl, 254 Pei Shen Rd Section 3
Zip : 222
Suburb : Shenkeng Hsiang
State :
*Factories, Size & Locations*
======================
(1)
Size : 924
square meter (Approx.)
Location :
Type of building : Industrial
building
Property status : Owned by
MOTECH INDUSTRIES INC
(2)
Size :
32,112 square meter (Approx.)
Location :
Type of building : Industrial
building
Property status : Owned by
MOTECH INDUSTRIES INC
*Corporate & Organization Structure*
=============================
A large-sized company operated and managed by an experienced team of
professionals.
The company is listed on the OTC (Over-the-counter Exchange) but is
considered a "public company" belonging to the category of
"Shang gui" (Emerging Public companies).
Organization and management of the company is divided into the following
divisions:
- Test & Instrument
- Solar Electricity
- Power Systems
*Industry Ranking*
==============
Generally regarded as one of the Top 5000 Companies in Manufacturing
Industry of Taiwan.
Details of rank are as follows:
Year Rank
------- ---------
2004 1131
2005 0771
2006 0461
2007 0262
2008 0173
*Accountants*
===========
KPMG CERTIFIED PUBLIC ACCOUNTANTS
*Registrar*
=========
TAIWAN INT'L SECURITIES CORP
www.motechind.com the design is professional
and the content is well organized. At present it is in both Chinese and English
versions.
E-mail: t&m@motechind.com
For the past two years there is no record of litigation.
*Major Shareholders*
================
Shareholders Country Number
Mr. Shao-hua Huang
Public n/a n/a
Mr. Yung-hui Tseng
Mr. Simon Yuan-huai Tso
Mr. Chih-kuei Lee
Mr. Ming-hsiao Lu
Mr. Wen-tsun Tsai
Ms. Shu-chun Wang
Mr. San-pao Lee
Mr. Cheng-ching Wu
Management: Ms. Ling Wang,
Manager
Mr. Chih-kuei Lee, Supervisor
Mr. Ming-hsiao Lu, Supervisor
Name Nationality
Job Description Dept. / Division
Ms. Ling Wang Taiwanese
Manager Administration
Mr. Chih-kuei Lee Taiwanese
Supervisor Administration
Mr. Ming-hsiao Lu Taiwanese
Supervisor Administration
Mr. Shao-hua Huang Taiwanese
Supervisor Administration
Mr. Jsf Derick Botha South
African Manager Business
Mr. Li-ren Lin Taiwanese
Manager Factory
Mr. Norman Chen-lin Shen Taiwanese
Director Finance
Ms. Anne Li Taiwanese
Chief Officer Information
Mr. Dylan Huao-chao Wong Taiwanese
Specialist Operations
Mr. Allen Chi-hsiung Wu Taiwanese
Director R&D
Mr. Chih-tao Lin Taiwanese
Manager R&D
Mr. Ken-ti Hu Taiwanese
Representative Sales
Mr. Sam-chiang Min Taiwanese
Representative Sales
Ms. Chia-lin Shih Taiwanese
Representative Sales
Mr. Simon Yuan-huai Tso Taiwanese
CEO -
Mr. Yung-hui Tseng Taiwanese
CEO -
Mr. Paul Chuan-hai Cheng Taiwanese
Chief Operating Officer -
Mr. Chu-liang Chang Taiwanese
General Manager -
Mr. Hsi-min Chuo Taiwanese
General Manager -
Dr. Kuo-en Chang Taiwanese
President -
Mr. Charles Chin-hui Hung Taiwanese
Vice General Manager -
Mr. Kun-
*COMPANY DIRECTORS*
====================
1
Name : Ms. Ling Wang
Sex : F
Email : ling_wang@motech.com.tw
Tel : [+886] 6-5050789
Ext : 583
2
Name : Mr. Chih-kuei Lee
Sex : M
3
Name : Mr. Ming-hsiao Lu
Sex : M
4
Name : Mr. Shao-hua Huang
Sex : M
5
Name : Mr. Jsf Derick Botha
Sex : M
6
Name : Mr. Li-ren Lin
Sex : M
7
Name : Mr. Norman Chen-lin Shen
Sex : M
Email : norman_shen@motech.com.tw
Tel : [+886] 6-5050789
Ext : 570
8
Name : Mr. Ken-ti Hu
Sex : M
Tel : [+886] 2-26625093
Ext : 230
9
Name : Mr. Sam-chiang Min
Sex : M
Mobile No. : 915234234
10
Name : Ms. Anne Li
Sex : F
Education : Master Degree in Computer Information System from the
Work experience : - Worked at Qwest Communication Inc. in Denver,
Colorado, National Renewable Energy Lab in Golden, Colorado
- Has over 15 years of experiences in Information Technology field as
Senior IT Consultant, DBA Design Engineer, Software Engineer, and MIS Analyst
Date appointed : February 2005
11
Name : Mr. Dylan Huao-chao Wong
Sex : M
Email : dylan_wong@motech.com.tw
Tel : [+886] 6-5050789
Ext : 580
Other e-mail : ir@motech.com.tw
12
Name : Mr. Allen Chi-hsiung Wu
Sex : M
13
Name : Mr. Chih-tao Lin
Sex : M
Other Details : Education : Ph. D. degree in Electrical and Computer
Engineering from
Work experience : - Worked at TAIWAN SEMICONDUCTOR MANUFACTURING CO for
eight years and worked on Product Engineering, Process Integration, R&D,
and Customer Service Management
Date appointed : August 2007
14
Name : Ms. Chia-lin Shih
Sex : F
Tel : [+886] 2-26625093
Ext : 291
15
Name : Mr. Yung-hui Tseng
Sex : M
16
Name : Mr. Chu-liang Chang
Sex : M
17
Name : Mr. Simon Yuan-huai Tso
Sex : M
Other Details : Age : More than 28 years
Education : Ph.D. in Physics from
Responsibilities : Handles the daily operation of the firm including all
financials, sales and legal matters
Work experience : - More than 20 years of experience in the field of
photovoltaic
- Senior scientist at the National Renewable Energy Laboratory (NREL) in
- Worked at Stanford Research Institute (SRI) in
Research Institute in
- More than 25 years
Other Positions
Country Company name Position
Taiwan CHIEFTEK
PRECISION CO LTD Company
Director
18
Name : Mr. Paul Chuan-hai Cheng
Sex : M
Other Details : Education : Ph.D. in Theoretical and Applied Mechanics
from Northwestern University in
Work experience : - 30 years of experience in engineering and management
- Worked for an aerospace company in
- Served as the President of the
- Founding member and president of both the Rocky Mountain Chinese
Society of Science and
Engineering and the Chinese American Council of
19
Name : Mr. Hsi-min Chuo
Sex : M
20
Name : Dr. Kuo-en Chang
Sex : M
Other Details : Education : Ph.D. degree in Metallurgical &
Materials Engineering from the
Work experience : - Joined since 1999 initially as our Chief Technology
Officer
- Worked on the secondary battery research at the Industrial Technology
Research Institute (ITRI)
for more than 3 years
- Worked at the China Steel Cooperation as the production foreman for 2
years before his graduate study
21
Name : Mr. Charles Chin-hui Hung
Sex : M
22
Name : Mr. Kun-yao Hou
Sex : M
23
Name : Mr. Ching-ming Lee
Nationality : Taiwanese
24
Name : Mr. Huang-chung Cheng
Nationality : Taiwanese
25
Name : Mr. Ming-chang Lin
Nationality : Taiwanese
26
Name : Mr. Wen-tsun Tsai
Nationality : Taiwanese
*Main Products & Services*
=====================
Specializes in the following areas of work:
`
2. Manufacturing of various types of ADSL Testers, LCR Meters, Power
Harmonic Analyzer, Solar Power System, and related products.
3. Sales and distribution of manufactured products to domestic and
international markets.
Product also includes digital programmable power supplies.
Products: AC/DC power supplies
ADSL
Analysis
Calibration
DC power
supplies
*Brand*
======
Motech
*Payment Terms*
=============
Sales
------
Local : Cash
30-90 days credit
Export : Letter of Credit (L/C)
Telegraphic Transfer
(T/T)
Purchases
---------------
Local : Cash
30-90 days credit
Import : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
*Quality Certification*
================
Obtained the following certifications:
Type of certification
Year Scope
----------------------------
-------
---------
ISO 9002
1996-1997 Instruments
ISO 9001:1994
1998-1999 Instruments
ISO 9001:2000
2000 Instruments
ISO 9001:2000
2001-2002 Instruments
& Solar Electricity - Fab1
ISO 9001:2000
2003-2006 Instruments
& Solar Power Systems & Solar Electricity - Fab1
ISO 9001:2000
2007 Instruments
& Solar Power Systems & Solar Electricity - Fab1/Fab2
*Exhibition Participation*
===================
Participated in the following local exhibitions:
(1)
Exhibition fair :
Date attended : 8-12 October, 1999
Location :
(2)
Exhibition fair :
Date attended : 9-13 October,
2000
Location :
(3)
Exhibition fair : TAITRONICS -
Components & Equipment Show
Date attended : 9-13 October,
2002
Location :
(4)
Exhibition fair : TAITRONICS - Finished Products Show
Date attended : 16-20 October, 2002
Location :
(5)
Exhibition fair :
Date attended : 9-13 October, 2003
Location :
(6)
Exhibition fair : TAITRONICS
AUTUMN - Taipei Int'l Electronics Autumn Show
Date attended : 11-15 October,
2005
Location :
(7)
Exhibition/Fair : TAITRONICS
AUTUMN -
Date attended : 9-13 October,
2006
Location :
(8)
Exhibition fair :
Dates attended : 8-12 October, 2004
Location :
Future Exhibition
-----------------------
(9)
Exhibition fair :
Dates attended : 8-11 October, 2009
Location :
(10)
Exhibition fair :
Dates attended : 7-9 October, 2009
Location :
*Competitors*
===========
The following locally based companies supply similar range of products :
- ACBEL POLYTECH INC
- REIGN POWER CO LTD
- POWER ELECTRIC CO LTD
- POWER MATE TECHNOLOGY CORP
- BOSER TECHNOLOGY CO LTD
-
- BIG SUN ENERGY TECHNOLOGY INC
- BEYONDDPV CO LTD
*Production Capacity*
=================
(1)
Item :
Communication equipment
Maximum Capacity : 1,500 (Pieces)
Current Capacity : 1,522
(Pieces)
Year :
2008
(2)
Item :
Measuring equipment
Maximum Capacity : 7,500 (Pieces)
Current Capacity : 7,563
(Pieces)
Year :
2008
(3)
Item :
Solar Power Converter
Maximum Capacity : 4,634 (Pieces)
Current Capacity : 2,370
(Pieces)
Year :
2008
(4)
Item : Solar
battery
Maximum Capacity : 89,099 (Amounts)
Current Capacity : 83,689
(Amounts)
Year :
2008
(5)
Item :
Solar & Optical System
Maximum Capacity : 526 (KW)
Current Capacity : 440 (KW)
Year : 2008
Previous Production Capacity
----------------------------------------
(1)
Item :
Communication equipment (PC/NTD1,000)
Maximum Capacity : 5,134
Current Capacity : 1,236
(2)
Item : Measuring equipment (PC/NTD1,000)
Maximum Capacity : 20,007
Current Capacity : 7,963
(3)
Item :
Solar battery (1,000PCs/NTD1,000)
Maximum Capacity : 75,000
Current Capacity : 56,092
(4)
Item : Solar & Optical System
(KW/NTD1,000)
Maximum Capacity : 579
Current Capacity : 425
*Local Distribution Network*
=======================
An estimated 10% of the annual turnover is attributed to local
sales.
*Export Markets*
==============
An estimated 90% of the annual turnover is attributed to export.
Products are exported to the following countries:
Country % of
Export
-----------
----------------
Others
8
*International Trade Ranking*
=======================
The firm has been ranked among
Details of rank are as follows :
Year Rank
------ ----------
2004 0299
2005 0163
2006 0111
2007 0058
2008 0037
*Overseas Agents & Distributors*
========================
Maintains distributors /agent networks in over 50 countries including:
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
*LOCAL BRANCHES & MANAGEMENT*
================================
Branch : MOTECH INDUSTRIES INC - HSINSHIH HSIANG SCIENCE PARK BRANCH
Branch Address :
Branch Tel : [+886] 6-5050789
Branch Fax : [+886] 6-5051789
Branch Employees : 470
*(Subsidiaries, Joint-ventures & Affiliates)
===============================
Business Entity Name : AE POLYSILICON CORP
Address :
Country :
Relationship : Affiliate
Legal Form : Private Company with Limited Liability
Company Type : Trader
Industry : Electronic Products & Components
Business Entity Name : CHEER VIEW INVESTMENT LTD
Address :
Country :
Relationship : Affiliate
Legal Form : Private Company with Limited Liability
Company Type : Service
Industry : Financial Services - General
Business Entity Name : INERGY TECHNOLOGY INC
Address : 5Fl-5, 28
Country :
Relationship : Affiliate
Legal Form : Private Company with Limited Liability
Company Type : Trader
Industry : Electronic Products & Components
Business Entity Name : MOTECH (
Country :
Relationship : Affiliate
Legal Form : Private Company with Limited Liability
Company Type : Trader
Industry : Electronic Products & Components
Business Entity Name : MOTECH (
Address : 1Fl Bldg A1 Kao Hsin Technology Dist Ningbo 315000
Country :
Relationship : Affiliate
Legal Form : Private Company with Limited Liability
Company Type : Trader
Industry : Electronic Products & Components
Business Entity Name : MOTECH (
Address :
Country :
Relationship : Affiliate
Legal Form : Private Company with Limited Liability
Company Type : Trader
Industry : Electronic Products & Components
Business Entity Name : POWER ISLANDS LTD
Country :
Relationship : Subsidiary
Legal Form : Private Company with Limited Liability
Company Type : Trader
Industry : Electronic Products & Components
Business Entity Name : THINK GLOBAL ENTERPRISES LTD
Country :
Relationship : Subsidiary
Legal Form : Private Company with Limited Liability
Company Type : Trader
Industry : Electronic Products & Components
PAYMENT
RATING : 1 OBTAINED SCORES : 90
|
Implication |
Implications |
|
|
1 |
Scores 85–100 |
Excellent |
|
2 |
Scores 75 – 84 |
Above Average |
|
3 |
Scores 50 – 74 |
Average |
|
4 |
Scores 35 – 49 |
Fair |
|
5 |
Scores 15 – 34 |
Below Average |
|
6 |
Scores 01 – 14 |
Poor |
|
NR |
No Data |
No Data |
The rating indicates the
payment pattern of SC based upon our Payment Database, comments from suppliers
of SC, information from banks (if available), as well as industrial sources.
Dealings on open terms may be possible for LARGE
amounts depending on individual judgement experience.
*BANK DETAILS*
==============
Bank Name : SHANGHAI COMMERCIAL & SAVINGS BANK LTD
Branch : Shenkeng Hsiang,
Branch Address :
SWIFT Code : SCSBTWTP
Bank Name : CHANG HWA COMMERCIAL BANK LTD
Branch : Shenkeng Hsiang,
Branch Address :
SWIFT Code : CCBCTWTP
Bank Name : FUBON COMMERCIAL BANK
Branch : Ta-an Dist,
Branch Address : 2Fl B1 Fubon Banking Center 169 Jen Ai Rd Section 4
Ta-an Dist Taipei City 106 (Head Office)
SWIFT Code : This bank does not have a SWIFT Code
Bank Name : CHINATRUST COMMERCIAL BANK LTD
Branch : Hsin-i Dist,
Branch Address : 14Fl
SWIFT Code : CTCBTWTP
*Financials*
==========
(1)
Balance Sheet
Currency : NTD
Denomination : In thousands
2007 2008
--------------- ---------------
Current Assets
10,136,414 10,816,279
Funds & long-term investments
306,066 1,045,889
Property
2,921,139 3,749,677
Intangible Assets
7,483 -
Other Assets
4,202,299 5,084,482
Current Liabilities (Before)
1,883,916 1,989,727
(After)
3,497,449 -
Long-term Liabilities
2,141,071 4,661,310
Other Liabilities
135,182 197,827
Common stock 2,061,476 2,495,401
Capital Reserve
8,332,149 8,332,677
Retained Earnings (Before)
3,019,447 2,978,488
(After)
976,745 -
Total Assets 17,573,401 20,696,327
Total Liabilities (Before) 4,160,169 6,848,864
(After)
5,773,702 -
Unrealized gain (losses) on financial
instruments 1,462 11,731
Cumulative foreign currency
translation adjustments
5,887 29,166
Net loss from unrecognized pension cost (7,189) -
Total Shareholder's Equity (Before) 13,413,232 13,847,463
(After)
11,799,699 -
Income Statement
Currency : NTD
Denomination : In thousands
2007 2008
--------------- ---------------
Operating revenue
15,577,559 22,859,305
Gross Profit
2,990,699 3,499,463
Operating Income
2,431,040 2,765,825
Non-operating income
255,075 179,212
Non-operating expense
227,315 574,428
Net Income before tax (Loss)
2,458,800 2,370,609
Net Income tax (Loss)
2,442,196 2,302,355
Net Income
2,442,196 2,302,355
Earnings (losses) per share (After) 10.39 9.23
*Financial Ratios*
==============
(1)
2007 2008
--------------- ---------------
Ratio of liabilities to Assets %
23.67 33.09
Ratio of long-term capital to fixed Assets% 532.47 493.61
Current ratio%
538.05 543.61
Quick ratio%
355.78 366.07
Interest coverage
27.73 20.83
Turnover of receivable (times)
14.35 17.33
Average collection period of receivable 25.44 21.06
Turnover of inventories (times)
5.99 6.46
Turnover of expense (times)
28.23 27.73
Average days of sales
60.93 56.50
Turnover of fixed assets (times)
5.33 6.10
Turnover of total assets (times)
0.89 1.10
Return on total assets%
13.90 11.12
Operating Income
117.93 110.84
Net Income before tax
119.27 95.00
Profit margin%
15.68 10.07
(2)
Balance Sheet
Currency : NTD
Denomination : In thousands
31 March, 2009 30 June,
2009
-------------------- ------------------
Current Assets
10,285,936
9,380,672
Funds & long-term investments 1,848,139 2,149,605
Property
3,781,996
4,157,320
Other Assets
5,043,620 4,971,255
Current Liabilities (Before)
2,177,397
2,870,200
Long-term Liabilities 4,661,580 4,839,751
Other Liabilities
184,545 189,592
Common stock
2,497,237 3,010,263
Capital Reserve
8,332,677
8,435,892
Retained Earnings (Before) 3,029,612 1,321,464
Total Assets 20,959,691 20,658,852
Total Liabilities (Before)
7,023,522
7,899,543
Unrealized gain (losses) on financial instruments 13,935 -
Cumulative foreign currency translation adjustments 62,708 -
Total Shareholder's Equity (Before)
13,936,169 12,759,309
Income Statement
Currency : NTD
Denomination : In thousands
31 March, 2009 30 June,
2009
--------------------
------------------
Operating revenue
4,021,238
6,828,104
Gross Profit
181,458 167,851
Operating Income
69,622
(37,243)
Non-operating income
96,499 85,567
Non-operating expense
110,121 188,888
Net Income before tax (Loss)
56,000 (140,564)
Net Income tax (Loss)
51,124 (157,551)
Net Income
51,124 (157,551)
Earnings (losses) per share (After)
0.20 -
*Financial Ratios*
==============
(2)
31 March, 2009 30 June,
2009
-------------------- ------------------
Ratio of liabilities to Assets %
33.51 38.24
Ratio of long-term capital to fixed Assets% 491.74 -
Current ratio% 472.40 326.83
Quick ratio%
312.32 -
Interest coverage
2.87 -
Turnover of receivable (times)
8.50 -
Average collection period of receivable 42.94 -
Turnover of inventories (times) 5.24 -
Turnover of expense (times)
19.81 -
Average days of sales
69.66 -
Turnover of fixed assets (times) 1.06 1.64
Turnover of total assets (times)
0.19 0.33
Return on total assets%
0.24 (0.76)
Operating Income
2.79 -
Net Income before tax
2.24 -
Profit margin%
1.27 (2.31)
*Financial Summary (Currency:
==============================
Year Sales Assets Net Income
2000 $5,801,057.54 $12,829,020.22 $668,491.45
2001 $7,799,767.85 $12,413,493.91 $752,988.97
2002 $14,880,080.48 $18,221,586.66 $2,403,909.17
2003 $32,733,160.32 $40,328,431.37 $6,333,362.17
2004 $73,695,458.65 $63,044,721.80 $16,830,676.69
2005 $135,994,786.73 $102,170,268.56 $36,632,764.61
2006 $244,845,556.23 $273,592,835.55 $68,255,955.26
2007 $470,053,077.85 $530,277,640.31 $73,693,301.15
2008 $709,916,304.35 $642,743,074.53 $71,501,708.07
*Int´l Trade Activity (Currency:
=============================
Year Imports Exports Total
2002 $300,000.00 $2,000,000.00 $2,300,000.00
2003 $2,500,000.00 $2,500,000.00 $5,000,000.00
2004 $1,565,408.99 $3,002,845.98 $4,568,254.97
2005 $2,000,000.00 $3,000,000.00 $5,000,000.00
2006 $540,791.99 $2,248,680.99 $2,789,472.98
2007 $356,631.99 $5,468,598.01 $5,825,230.00
2008 $436,288.01 $5,703,981.99 $6,140,270.00
SC is considered large-sized in its line with a long development
history. Taking into consideration of SC’s general performance, a credit line up
to USD 15,000,000 appears to be within SC’s capacities.
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3546 Power driven
hand tools, and parts,
Exporting 3577 Computer peripheral
equipment, and parts,
Exporting 3679 Electronic
components,
Exporting 3827 Optical
instruments, and parts,
Exporting 3829 Measuring and
controlling devices, and parts,
Exporting 5063 Electrical
Equip/Wiring
Exporting 5065 Electronic
Parts/Equip, NEC
Manufacturing 3546 Power
driven hand tools, and parts,
Manufacturing 3577 Computer
peripheral equipment, and parts,
Manufacturing 3600 Electronic
& Electric Equip.
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 8485900000 Machinery
parts not containing electrical features, and not specified or included
elsewhere in
chapter 84, except ships' propellers
Exporting 8500 Electrical
machinery & equip. & parts; telecommunications equip., sound
recorders,
television recorders
Exporting 8517900500 Parts
for central office telephonic switching apparatus
Exporting 8525102000 Transmission
apparatus for television
Exporting 8525200500 Radio transceivers,
citizens band (cb), hand-held
Exporting 8541406020 Solar
cells assembled into modules or panels
Exporting 8542 Electronic
integrated circuits & microassembl, parts
Exporting 8542900000 Parts
for electronic integrated circuits and microassemblies
Exporting 8543200000 Signal
generators
Exporting 8548900000 Electrical
parts of machinery or apparatus in chapter 85
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Manufacturer Electronic calibration
Manufacturer Electronic
measuring equipment
Manufacturer Electric power
supply
Manufacturer Optical
products
Manufacturer Analysis
Manufacturer Scientific
instruments
Manufacturer Measuring
instruments
Manufacturer Power equipment
Manufacturer Digital power
supply
Manufacturer Solar power
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Country / Region
Middle-East Exporting
Pacific Exporting,
Importing
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.02 |
|
|
1 |
Rs.72.70 |
|
Euro |
1 |
Rs.62.54 |
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 |
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.