MIRA INFORM
REPORT
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Report Date : |
12.03.2011 |
IDENTIFICATION DETAILS
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Name : |
RUENTEX INDUSTRIES LTD |
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Registered Office : |
13fl-1, 308 Pa Teh Rd Section 2 Chungshan Dist, |
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Country : |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
16.01.1976 |
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Com. Reg. No.: |
14053007 |
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Legal Form : |
Public Listed Company |
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Line of Business : |
Manufacturing a |
RATING & COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 2,000,000 |
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Status : |
Excellent |
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Payment
Behaviour : |
Usually correct |
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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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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
RUENTEX
INDUSTRIES LTD
13FL-1, 308 PA TEH RD SECTION 2 CHUNGSHAN DIST
TEL: 886-2-81617999
FAX: 886-2-81617962
EXECUTIVE SUMMARY
INCORPORATION DATE :
JANUARY 16, 1976
REGISTRATION NO. :
14053007
LEGAL FORM :
PUBLIC LISTED COMPANY
CHIEF EXECUTIVE :
MS. CHI-FAN WANG (CHAIRMAN)
STAFF STRENGTH :
1,582
CAPITAL :
US$ 330,414,594
BUSINESS LINE :
MANUFACTURER
TURNOVER :
NTD 1,278,159,000 (AS OF MAR. 31, 2008)
EQUITIES :
NTD 8,448,599,000 (AS OF MAR. 31, 2008)
PAYMENT :
EXCELLENT
RECOMM.
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
FAIRLY GOOD
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : WELL
KNOWN
EXCHANGE RATE :
TWD 30.87203 = 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 –
*Company History*
===============
1976 -
Merged with its five affiliated companies in response to the Government's
advocacy for the expansion of private enterprises and has organized an
integrated operation handling not only imports of raw cotton but also spinning,
weaving, dyeing, finishing, and printing.
20 July, 1977 -
Became a public company when approved by the Ministry of Economic Affairs and
listed on the Taiwan Stock Exchange using the stock code "2915" and
stock symbol "RUENTEX I:
1997 -
Opened RT-Mart Penchen store.
1998 -
Opened RT-Mart Chung Ho store.
*Licenses & Permits*
================
(1)
License number : 99621610
Date issued : 7 June,
1974
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
(2)
License number : 99625257
Date issued : 9 June,
1995
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
(3)
License number : 99625258
Date issued : 26
November, 1999
Issuing authority : Industrial
Development Bureau, MOEA
Type of license : Factory
license
*Capital Details*
============
Share value : NTD
10.00/-each
Authorized capital : NTD
9,962,000,000.00
Initial paid-up capital: N/A
Paid-up capital increases as follows:
Date
Increase/decrease (NTD)
------
-----------------------------------
1995 4,308,912,470.00
1996
4,567,447,220.00
1998
7,505,249,000.00
1999
7,880,511,450.00
August, 2006
7,793,409,450.00
*Office & Facilities*
===============
Size : 70 sq. meters
Location : Centra
Business District (CBD)
Property status : Rented
Type of building : Commercial
Other Contact Details
-----------------------------
Fax nos : 2-27060997 (Operator)
2-27079799
(Sales)
2-23256544
(Trading)
E-mail : david@mail.ruentex.com.ts
Previous Contact Details
---------------------------------
(1)
Address : 21Fl Ruentex Tower
Tel no. : 2-27058181
Fax no. : 2-27031170
(2)
Address : 13 Industrial 1 Rd,
Pinchen City, Taoyuan Hsien, 324
Tel no. : 3-4695354
*Factories, Size & Locations*
=======================
The firm maintains three (3) manufacturing premises as listed below:
(1)
License number : 99621610
Building size : 9,497 sq.
meters (Approx)
Location :
Facilities :
Modern
Property status : Owned by
RUENTEX INDUSTRIES LTD
Type of building : Industrial
building
(2)
License number : 99625257
Building size : 1,509 sq,
meters (Approx)
Location : Yangmei
Chen
Facilities :
Modern
Property status : Owned by
RUENTEX INDUSTRIES LTD
Type of building : Industrial
building
(3)
License number : 99625258
Building size : 3,416 sq.
meters (Approx)
Location : Taoyuan
Hsien
Facilities :
Modern
Property status : Owned by
RUENTEX INDUSTRIES LTD
Type of building : Industrial
building
*Corporate & Organization Structure*
============================
A large specialized company operated and managed by an experienced team
of professionals.
Organization and management of the Group of Companies, is divided into
four (4) business divisions, of which RUENTEX is responsible for the Division 1
below:
1. Textiles - Diverse
varieties of textile products in one-stop shopping
2. Trade - Offers garment proofing, production
and agency
- Own
the agency of Nautica men's wear and provide business uniform styling service
3. Hyper-mart -
Diversification into new business arena
4. Construction
Also maintains an R&D division that service for total capacity of
Try weaves 400 patterns and Hand room 1,000 patterns per month.
*Industry Ranking*
===============
(1)
Considered one of
(2)
Generally regarded as one of the Top 1000 Companies in Manufacturing
Industry of Taiwan.
(3)
Generally regarded as one of the Top 5000 Companies in Manufacturing
Industry of Taiwan, details of rank are as follows:
Year Rank
------ -------
2004 500
2005 609
2006 695
*Sales Ranking*
=============
(1)
Details of rank are as follows:
Year Rank
------ ------
1996 293
1997 134
1998 106
2000 117
2001 123
2002 143
(2)
Generally regarded as one of the Top 5000 Companies in terms of sales,
details of rank as follows:
Year Rank
------ -------
2006 614
*Accountants*
===========
DELOITTE & TOUCHE
*Auditors*
=========
DELOITTE & TOUCHE
*Registrar*
=========
RUENTEX INDUSTRIAL
Web
site: www.ruentex.com.tw the design is
professional and the content is well organized. At present it is in Chinese version.
E-mail: james@mail.ruentex.com.tw
For the past two years there is no record of litigation.
*Major Shareholders*
================
Total number of shareholders: N/A
Total number of shares: N/A
Shareholders Country Number Amount
(NTD) %
----------------- --------- -------------- --------- ------
HUI HUNG INVESTMENT CO LTD
RUENTEX ENGINEERING & Taiwan
7,187,040.00 n/a n/a
CONSTRUCTION CO LTD
Management: Mr. Chun-ming Su,
Manager
Mr. Pang-hsiung Liu, Manager
Mr. Yen Wei, Manager
Name Nationality
Job Description Dept. / Division
Mr. Chun-ming Su Taiwanese
Manager Assets
Mr. Pang-hsiung Liu Taiwanese
Manager Assets
Mr. Yen Wei Taiwanese
Manager Assets
Ms. Wen-ling Huang Taiwanese Manager Assets
Mr. Chin-ping Chiang Taiwanese
Director Factory
Mr. Jen-lu Hsu Taiwanese
Manager Factory
Mr. Yuan-chang Teng Taiwanese Assist. Manager Finance
Mr. Chin-yuan Peng Taiwanese Manager Finance
Ms. Hsueh-chin Wu Taiwanese Assist. Manager Sales
Mr. Chin-yang Wu Taiwanese
Manager Sales
Mr. Chia-yi Huang Taiwanese
Assist. Manager -
Mr. Chin-shih Chang Taiwanese
Assist. Manager -
Mr. Ching-shun Wang Taiwanese Assist. Manager -
Mr. Chih-chang Hsu Taiwanese General Manager -
Mr. Ching-chung Chiu Taiwanese Manager -
Mr. Cheng-chou Hsueh Taiwanese Vice General Manager -
Mr. Fan-wen Meng Taiwanese Vice General Manager -
Mr. Jui-nan Chang Taiwanese
Vice General Manager -
Mr. Tai-min Kuo Taiwanese
Vice General Manager -
Mr. Teh-liang Cheng Taiwanese
Vice General Manager -
Mr. Tien-jie Lee Taiwanese Vice General Manager -
Mr. Wen-chun Chang Taiwanese Vice General Manager -
Mr. Yi-wen Wang Taiwanese
Vice General Manager -
Ms. Hsiu-yen Chang Taiwanese Vice General Manager -
Mr. Ming-jui Huang Taiwanese
Vice President -
Mr. Yi-tsung Lin Taiwanese
Vice President -
*Main Products & Services*
=====================
Specializes in three (3) main areas of work:
1. Importing a range of cloth and other related raw textile materials.
2. Manufacturing a range of underwear, leisure clothes and garments.
3. Exports and domestic sales of its finished products.
Products are categorized into 3 types:
1. Yarn-dyed fabrics
- Such as gingham, oxford,
brushed twill, peach, seersucker, dobby, denim, chambray. The major raw materials are 100% cotton, T/C,
lycra, rayon, and linen
2. Piece-dyed fabrics
- The major raw materials are
100% cotton, lycra, rayon, and linen.
3. Corduroy
- The major raw materials are
100% cotton and lycra.
Products: Chambrays fabric
Clothes
Corduroy
fabrics
Cotton
Cotton denims
*Brand*
======
Ruentex
*Payment Terms*
=============
Sales
------
Local : Cash
30-90 days credit
Export : Letter of Credit (L/C)
Document against
Acceptance (D/A)
Telegraphic Transfer
(T/T)
Purchases
--------------
Local : 30-90 days credit
Import : Letter of Credit (L/C)
Document against
Acceptance (D/A)
Telegraphic
Transfer (T/T)
Open account /DA
terms with settlement using Telegraphic Transfer (T/T)
*Quality Certification*
==================
Obtained the following certifications:
(1)
Type of certification: ISO 9001
Date of certification: June 2001
(2)
Type of certification: ISO 14001
Date of certification : October 2001
(3)
Other certifications also include:
- OEKO-tex
- DuPont LYCRA
*Machinery & Equipment*
====================
The company operates six mills which form an integrated production line
from spinning, dyeing, sizing, weaving, finishing & printing. The machines
are controlled by computer networks which allow immediate response to any
production problem.
Each mill is allocated to specific areas of production.
Mill No 1 : Sizing, Dyeing, Weaving & Finishing
Mill No 2 : Printing & Dyeing
Mill No 3 : Spinning, Dyeing, Sizing & Weaving
Mill No 4 : Spinning
Mill No 5 : Dyeing, Weaving
Mill No 6 : Weaving
*Production Capacity*
=================
(1)
Category
Composition
Products
Current capacity (thousand yards/month)
-------------
------------------
------------ ----------------------------------------------------
Yarn-dyed fabrics -
Cotton Oxford,
Pin-point
4,500
- TC, CVC
- Rayon, Model
40/50/60" (dress shirt)
Rayon, Tencel Gingham,
- Lycra Peach,
Dobby, Wrinkle
- Linen
Resistant,
0 Voile, Crepe, Denim, Chambray
Denim
- Cotton
Denim, Chambray 1,000
Piece-dyed fabrics -
Cotton Wrinkle
resistant 1,800
- Cotton/Rayon Mole
skin
- Linen
Peach
- Cotton/Lycra Indigo
piece-dyed
Corduroy - Cotton Fashion corduroy
- Cotton/Lycra Dobby, Y/D Corduroy,
Indigo
Piece-dyed
(2)
Item :
Dye Cotton
Maximum capacity : 12,000 (NTD 1,000/Amounts)
Current capacity : 6,466 (NTD
1,000/Amounts)
Year :
2006
(3)
Item : OEM
Current capacity : 1,659 (NTD
1,000/Amounts)
Year :
2006
*Associations*
===========
Member of:
- The Importers and Exporters
Association of
*Competitors*
==========
The following locally based firms supply similar range of products :
- CHIA HER INDUSTRIAL CO LTD
- EVEREST TEXTILE CO LTD
- MIGHTY ALLIANCE CORP
- SUMMIT INT'L LILY CO LTD
- TAINAN ENTERPRISES CO LTD
- FULL PLENTY INDUSTRY CO LTD
- DESIRE DEVELOPMENT INC
*Imports*
========
Cotton are imported from US,
*Import Agencies*
===============
Also maintains import agencies from the following :
Country
Agency for
Product
Year
-------------
-----------------
------------
---------
*Domestic Agency Contracts Maintained*
=================================
- COSA LIEBERMANN TRADING CO LTD
*Local Distribution Network*
=======================
An estimated 42% of the annual turnover is attributed to local sales.
*Export Markets*
=============
An estimated 58% of the annual turnover is attributed to export.
Breakdown of export as per product are as follows:
Product
Country/Region % of Export
-------------
----------------------
--------------
Cotton fabrics
Others 5.00
Ginghams cloths
Others
5.00
Denims, cotton
Others 5.00
*Overseas Suppliers*
================
Major overseas suppliers include:
(1)
Supplier's name: N/A
Country :
Product/material: Cotton yarn
(2)
Supplier's name : N/A
Country :
Product/material : Griege cloth
*Overseas Customers*
=================
Major overseas customers include:
- EDDI BAUER
- JC PENNEY
- LEVI'S
- LIZ CLAIBORNE
- TOMMY HILFIGER
*International Trade Ranking*
======================
The firm has been ranked among
Year Rank
------ -------
1997 176
2004 344
2005 449
2006 566
*International Exhibition Participation*
=============================
Participated in the following international exhibitions:
(1)
Exhibition fair : ASAP Exhibition
Date attended : 18-21 February, 2002
Location :
(2)
Exhibition fair : INTERSTOFF ASIA
Exhibition
Date attended : 19-21 March, 2002
Location :
(3)
Exhibition fair : TEXWORLD
Exhibition
Date attended : September 2002
Location :
(4)
Exhibition fair : TNTER TEXTILE
Exhibition
Date attended : October 2002
Location :
(5)
Exhibition fair :
Date attended : November 2002
Location :
*LOCAL BRANCHES & MANAGEMENT*
================================
Branch : RUENTEX INDUSTRIES LTD -
Branch Address : B1, B2,
Branch Tel : [+886] 2-82411111
Branch Management
Name Job Description Nationality
Mr. Ching-chung
Branch : RUENTEX INDUSTRIES LTD (FACTORY 3) - YANGMEI CHEN
Branch Address : 30 & 30-3 Shang-syh-hwu 4th Shang-hwu Li Yangmei
Chen, Taoyuan Hsien 326
Branch Tel : [+886] 3-4722405
Branch Fax : [+886] 3-4725257
Branch Employees : 50
Branch : RUENTEX INDUSTRIES LTD (FACTORY 2)- KUANYIN HSIANG
Branch Address : 59 Ching Chien 1st Rd Kuanyin Hsiang, Taoyuan Hsien 328
Branch Tel : [+886] 3-4831740
Branch Fax : [+886] 3-4831745
Branch Employees : 80
*(Subsidiaries , Joint-ventures & Affiliates)
===============================
Company Name : CHIN-AN INVESTMENT CO LTD
Address : 21Fl Ruentex Tower
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Financial Services - General
Company Name : CHING-HUNG INVESTMENT CO LTD
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Financial Services - General
Company Name : CITY LINK CO LTD
Address : 11Fl-1,
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Construction & Construction Materials
Company Name :
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Industry : Not Applicable - Tax Haven Entity
Company Name : EAST CAPITAL INT'L LTD
Address : Offshore Incorporation's
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Financial Services - General
Company Name : FU-LI INVESTMENT CO LTD
Address : 21Fl Ruentex Tower
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Financial Services - General
Company Name : FU-YI INVESTMENT CO LTD
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Financial Services - General
Company Name : FULL SHINE INT'L HOLDING LTD
Address :
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Financial Services - General
Company Name : GOLD LEAF INT'L GROUP CO LTD
Address :
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Service
Industry : Financial Services - General
Company Name : HO-CHI INVESTMENT CO LTD
Address : 21Fl Ruentex Tower
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Financial Services - General
Company Name : KOMPASS GLOBAL SOURCING SOLUTIONS LTD
Address : 21Fl Ruentex Tower
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Textiles & Raw Material
Company Name : NEW ZONE INT'L CO LTD
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Textiles & Raw Material
Company Name : RT MART INT'L LTD
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Industry : N/A
Company Name : RT MART INT'L LTD
Address : 2Fl, 36, Lane 128,
Country :
Relationship : Minor Investments
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Consumer Products
Company Name : RUEN FU NEWLIFE CORP
Address : 19Fl
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Construction & Construction Materials
Company Name : RUENTEX DEVELOPMENT CO LTD
Address : 24Fl Ruentex Tower
Country :
Relationship : Subsidiary
Legal Form : Public Listed Company
Company Type : Service
Industry : Construction & Construction Materials
Company Name : RUNTEX CEMENT CO LTD
Country :
Relationship : Subsidiary
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Construction & Construction Materials
Company Name : SHING YEN CONSTRUCTION DEVELOPMENT CO LTD
Address : 11Fl-1, 308 Pa Teh Rd Section 2
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Service
Industry : Construction & Construction Materials
Company Name : SINOPAC GLOBAL INV LTD
Country :
Relationship : Affiliate
Legal Form : Private company with limited liability
Company Type : Trader
Industry : Textiles & Raw Material
*Strategic Partners & Alliances*
=======================
Group/Alliance name: RUENTEX Group
Holding company : RUENTEX
INDUSTRIES LTD
Country :
Group members : - RUENTEX
DEVELOPMENT CO LTD
- FU-LI INVESTMENT CO LTD
- CHIN-AN INVESTMENT CO LTD
- CHIN-AN INVESTMENT CO LTD
- FULL SHINE INT'L HOLDING LTD
- GOLD LEAF
INT'L GROUP CO LTD
- EAST CAPITAL INT'L LTD
- KOMPASS GLOBAL SOURCING SOLUTIONS LTD
- RUNTEX CEMENT CO LTD
- HO-CHI INVESTMENT CO LTD
- SHING YEH CONSTRUCTION & DEVELOPMENTCO LTD
- CITY LINK CO LTD
- RT MART INT'L LTD
- RUEN FU NEWLIFE CORP
*IMPORTER AGENCY LISTING*
==========================
Supplier : NAUTICA ENTERPRISE INC
Country of Origin :
Product Description : Clothes
Brand : NAUTICA
Year : 1993
Supplier : DANIEL CREMIEUX
Country of Origin :
Product Description : Clothes
Brand : DanielCremieux
Year : 2002
Supplier :
Country of Origin :
Product Description : Clothing
Brand :
Year : 1990
Supplier :
Country of Origin :
Product Description : Clothing
Brand :
Year : 1990
Supplier : KENNETH COLE PRODUCTION INC
Country of Origin :
Product Description : Fashion clothing
Brand : KENNETH COLE
Year : 2000
Supplier : KENNETH COLE PRODUCTION INC
Country of Origin :
Product Description : Fashion clothing
Brand : KENNETH COLE
Year : 2000
Supplier : DANIEL CREMIEUX
Country of Origin :
Product Description : Leisure clothes
Brand : DANIEL CREMIEUX
Year : 2000
Supplier : DANIEL CREMIEUX
Country of Origin :
Product Description : Leisure clothes
Brand : DANIEL CREMIEUX
Year : 2000
PAYMENT
RATING : 1 OBTAINED SCORES : 85
|
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 : BANK OF
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : BKTWTWTP
Bank Name : FIRST COMMERCIAL BANK CO LTD
Branch : Chungcheng Dist,
Branch Address : 10Fl,
SWIFT Code : FCBKTWTP
Bank Name : MEGA INT'L COMMERCIAL BANK CO LTD
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : ICBCTWTP
Bank Name : LAND BANK OF
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : LBOTTWTP
Bank Name : TAIWAN BUSINESS BANK
Branch : Tatung Dist,
Branch Address : International Department 3Fl,
SWIFT Code : MBBTTWTP
Bank Name : TAIWAN COOPERATIVE BANK
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : TACBTWTP
Bank Name : TAIPEI FUBON COMMERCIAL BANK CO LTD
Branch : Chungshan Dist,
Branch Address :
SWIFT Code : TPBKTWTP
Balance Sheet
Currency : NTD
Denomination : in Thousand
31 March, 2008
--------------------
Assets
Current Assets
Cash and cash equivalents 104,306.00
Available-for-sale financial assets - current 2,345,020.00
Notes receivable - net
44,229.00
Notes receivable - related parties - net 2,277.00
Accounts receivable - net 247,449.00
Accounts receivable - related parties - net 7,714.00
Other receivables
11,027.00
Other receivables - related parties 49,047.00
Inventories
1,673,661.00
Prepaid expenses
49,909.00
Other prepayments
157,255.00
Other current assets
72,812.00
Current assets
4,764,706.00
Funds and Investments
Available-for-sale financial assets - non
current 100,090.00
Financial assets carried at cost - non
current
1,095,760.00
Debt investments without active market -
non current 72,000.00
Equity investments under equity method 6,103,053.00
Investments
6,103,053.00
Funds and long-term investments 7,370,903.00
Fixed Assets
Cost
Land
932,261.00
Land improvements
37,756.00
Buildings and structures
1,170,758.00
Machinery and equipment 2,326,440.00
Transportation equipment
37,244.00
Leased assets
16,151.00
Rental assets - land 515,853.00
Rental assets - buildings
631,738.00
Rental assets - other
2,848.00
Leasehold improvements 200,351.00
Other facilities
202,741.00
Revaluation increment
58,915.00
Cost and revaluation increment 6,133,056.00
Accumulated depreciation (2,338,247.00)
Accumulated impairment - fixed assets (287,290.00)
Construction in process and prepayment
for equipment
53,354.00
Fixed assets 3,560,873.00
Intangible Assets
Computer software cost
6,700.00
Deferred pension cost
42,205.00
Intangible assets 48,905.00
OtherAssets
Idled assets
236,037.00
Guarantee deposits paid
22,491.00
Deferred charges
65,589.00
Other assets - other
66,515.00
Other assets
390,632.00
Assets 16,136,019.00
Liabilities and Stockholders' Equity
Liabilities
Current Liabilities
Short-term borrowings
1,434,102.00
Short-term notes and bills payable 1,872,795.00
Notes payable 135,623.00
Notes payable - related parties 8,011.00
Accounts payable
613,224.00
Accounts payable - related parties 3,589.00
Income tax payable
71,914.00
Accrued expenses
157,855.00
Other payables
19,387.00
Advance receipts
40,254.00
Long-term liabilities - current portion 203,495.00
Other current liabilities
58,198.00
Current liabilities 4,618,447.00
Long term Liabilities
Long-term borrowings
2,314,568.00
Long-term liabilities
2,314,568.00
Reserves
Reserve for land revaluation increment tax 19,863.00
Reserves
19,863.00
Other Liabilities
Pension reserve / accrued pension liability 113,030.00
Guarantee deposits received 567,651.00
Deferred income tax liabilities 53,861.00
Other liabilities
734,542.00
Liabilities
7,687,420.00
Stockholders' Equity
Capital
Common stock
7,114,343.00
Capital Surplus
Capital surplus - treasury stock
transactions
242,977.00
Capital surplus - long-term equity
investments
353,610.00
Capital surplus
596,587.00
Retained Earnings
Legal reserve 160,703.00
Unappropriated retained earnings 952,882.00
Retained earnings
1,113,585.00
Stockholders' Equity and Other adjustment
Cumulative translation adjustments 134,305.00
Net loss not recognized as pension cost (20,034.00)
Unrealized gains (losses) on financial
instruments
(159,523.00)
Unrealized Revaluation Increment 127,963.00
Equity adjustments
82,711.00
Treasury stock
(458,627.00)
Stockholders equity 8,448,599.00
Number of treasury stock acquired by the
company and subsidiaries
(unit: share) 26,088,028.00
Income Statement
Currency : NTD
Denomination : in Thousand
31 March, 2008
--------------------
Sales
1,278,159.00
Sales returns 11,577.00
Sales discounts and allowances 1,230.00
Sales
1,265,352.00
Net construction revenue (for
construction contracting business) 250,294.00
Construction and engineering revenue 250,294.00
Other operating revenue
13,177.00
Operating income
1,528,823.00
Cost of sales
1,076,095.00
Cost of construction
186,278.00
Cost of construction and engineering service 186,278.00
Operating costs 1,262,373.00
Gross profit (loss) from operations 266,450.00
Selling expense
237,885.00
General and administrative expenses 55,081.00
Operating expenses
292,966.00
Operating income (loss)
(26,516.00)
Non-Operating Income
Interest income 850.00
Inome from long-term equity investments under
the equity method
55,158.00
Dividends
28.00
Investment income
55,186.00
Miscellaneous income
11,396.00
Non-operating revenues and gains 67,432.00
Non-Operating Expenses
Interest expense 43,489.00
Foreign exchange losses
1,829.00
Miscellaneous disbursements 9,764.00
Non-operating expenses and losses 55,082.00
Income from continuing operations before
income tax
(14,166.00)
Income tax expense (benefit) 2,145.00
Income from continuing operations (16,311.00)
Net income (loss)
(16,311.00)
Primary Earnings per Share
Primary earnings per share
(0.02)
*Financial Summary (Currency:
=============================
Year Sales Assets Net Income
1998 $302,549,533.33 $688,000,000.00 $6,470,266.67
1999 $307,323,031.25 $642,500,000.00 -$76,656,250.00
2000 $302,791,944.01 $671,539,657.85 -$11,608,958.01
2001 $262,397,388.28 $602,997,707.49 $21,025,885.08
2002 $245,081,833.86 $525,736,619.72 -$8,578,643.29
2003 $258,259,169.55 $485,339,100.35 $20,261,043.83
2004 $203,903,909.77 $448,337,684.21 $3,805,714.29
2005 $177,030,394.94 $479,623,001.58 $12,089,857.82
2006 $151,383,948.00 $473,615,689.24 $25,103,627.57
2007 $159,302,263.13 $457,291,973.45 $31,110,863.01
*Int´l Trade Activity (Currency:
==============================
Year Imports Exports
Total
2000 $23,202,445.01 $95,966,018.97 $119,168,463.98
2001 $23,568,818.75 $86,792,620.89 $110,361,439.64
2002 $30,084,881.58 $78,341,983.18 $108,426,864.76
2003 $23,241,500.00 $67,615,582.99 $90,857,082.99
2004 $23,038,936.00 $87,714,811.01 $110,753,747.01
2005 $20,749,291.00 $65,960,232.99 $86,709,523.99
2006 $21,429,923.00 $87,714,811.00 $109,144,734.00
SC is considered large-sized in its line with a development history of
35 years. Taking into consideration of SC’s general performance, a credit line
up to USD 2,000,000 appears to be within SC’s capacities.
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 2211 Broad woven
fabrics, cotton
Exporting 2261 Finish Cotton
Fabrics
Importing 2300 Apparel/Other
Textile Products
Importing 2322 Men's and
boys' underwear and nightwear
Importing 2341 Women's
girls', and infants' underwear and nightwear
Importing 2389 Apparel and
accessories,
Importing 2800 Chemicals and
Allied Products
Importing 2899 Chemical
preparations,
Importing 3552 Textile
machines, and parts and attachments,
Manufacturing 2211 Broad
woven fabrics, cotton
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 5208112020 Unbleached
poplin or broadcloth, greater than or equal to 85 percent by weight of cotton,
weighing less than or equal to
Exporting 5208321000 Dyed
plain weave woven fabrics, greater than or equal to 85 percent cotton, greater
than
Exporting 5208392000 Woven
fabrics of cotton, 85% or more cotton by weight, dyed satin or twill, weighing
not over
Exporting 5208421000 Yarns
of different colors plain weave fabric, greater than or equal to 85 percent
cotton, more than
Exporting 5208592000 Woven
fabrics of cotton, 85% or more cotton by weight, printed satin or twill
weighing not over
Exporting 5209190020 Unbleached
satin weave or twill weave: sateens, greater than or equal to 85 percent by
weight of cotton, weighing greater than
Exporting 5209420020 Yarns
of different colors blue denim fabric, greater than or equal to 85 percent by
weight of cotton, exceeding
Exporting 5210392090 Dyed
twills, less than 85 percent by weight of cotton, mixed mainly or solely with
man-made fibers, weighing less than or equal to
Exporting 5210410000 Woven
cotton fabrics, under 85% cotton by weight mixed mainly with manmade fiber with
yarn of different colors, plain woven fabric, not over
Exporting 5212130000 Woven
cotton fabrics, under 85% cotton by weight, dyed fabrics, weighing not over
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Exporter
Exporter Micro
suede
Exporter Denim
fabrics
Exporter Piece dyed
fabric
Exporter Yarn-dyed
gingham
Exporter Yarn-dyed
fabrics
Exporter Seersucker
Exporter Printed
fabrics
Importer Knitting yarns,
cotton
Importer Weaving
machinery
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
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Exporting to
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Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to UAE
Exporting to
Exporting to
Importing from
Importing from
Importing from
Importing from
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.21 |
|
|
1 |
Rs.72.55 |
|
Euro |
1 |
Rs.62.43 |
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 Company |
---- |
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.