MIRA INFORM REPORT
|
Report Date : |
16.09.2011 |
IDENTIFICATION DETAILS
|
Correct Name : |
UNI AIRWAYS CORPORATION |
|
|
|
|
Registered Office : |
8F.,No.117, Sec.2, Chang-An e. Rd., Jhongshan District,Taipei City 104 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
30.06.2011 |
|
|
|
|
Date of Incorporation : |
06.08.1988 |
|
|
|
|
Com. Reg. No.: |
22958771 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Airway
Company |
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 200,000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
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
|
Company Name: |
Uni Airways Corporation |
|
Supplied Name: |
Uni Airways |
|
Trading Address: |
|
|
Supplied Address: |
Taipei Zhongshan Airport Taipei, Taiwan |
|
Telephone Number: |
+886-2-2776-8576 |
|
Fax Number: |
+886-2-8772-2132 |
|
E-mail: |
Notes: Subject’s exact name and address are as above.
Credit Summary
|
Credit Rating: |
|
|
Credit Opinion: |
Company
Identification Details
|
Registered Name: |
UNI AIRWAYS CORPORATION |
|
Registered Address: |
|
|
Date of Foundation: |
|
|
Registration Number: |
22958771 |
|
Registry: |
Department of Commerce,
Ministry of Economic Affairs,
R.O.C. |
|
Registered Capital: |
NTD 5,500,000,000 (USD 189,200,000) (As of 2011.09, 1 NTD = 0.0344 USD) |
|
Paid-up Capital: |
NTD 3,160,000,000 (USD 108,704,000) |
|
Legal Representatives: |
Hongyi Su |
|
Legal Form: |
|
|
Principal Activities: |
Subject operates as an airway company |
|
Staff: |
|
|
Listed at Stock
Exchange: |
|
|
Date of Last
Annual Return: |
Notes: the staff number is estimated.
History
Subject was incorporated on
Subject was listed in 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
|
Name |
Subscription Shares |
|
Uni Airways Corporation |
49,522,686 |
| Evergreen
International (Panama) Co., Ltd (Literal Translation) |
31,442,000 |
|
Evergreen Steel Corp (Literal Translation) |
51,553,906 |
|
Evergreen International Co., Ltd (Literal
Translation) |
52,197,037 |
The information
above is that of subject’s major shareholders.
Subsidiaries &
Branches
Branch Company
(dissolved):
|
Name: |
Taipei Branch
Company |
|
Registered
Number: |
84250261 |
|
Status: |
Dissolved |
|
Manger Name: |
Ruiyuan Xu |
|
Registered
address: |
1/F., No. 340.
Dunhua North Road, Songshan District, Taipei City, Taiwan. |
|
Date of
Registration: |
|
|
Date of Last
Annual Return: |
|
Personnel
Information
Core
Management
|
1 |
|
|
Name |
Hongyi Su |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Xiehong Chen |
|
Position |
Director |
|
3 |
|
|
Name |
Baoshui Lin |
|
Position |
Director |
|
4 |
|
|
Name |
Guowei Zhang |
|
Position |
Director |
|
5 |
|
|
Name |
Lianhuo Ye |
|
Position |
Director |
|
6 |
|
|
Name |
Liqing Ke |
|
Position |
Director |
|
7 |
|
|
Name |
Korai Biyu |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 900 employees |
Notes: the staff number
is estimated.
Operation
Information
Offices
& Factories
|
|
Headquarters |
|
Add |
|
Operation
Information
Subject operates as an airways company in Taiwan and its information is
as follows:
|
IATA
|
B7 |
|
ICAO
|
UIA |
|
Glory |
|
|
Airports |
Taipei Songshan
Airport, Kaohsiung Airport |
|
Number of
Airplane |
22 |
|
Air lines cover |
About 15 cities |
Subject’s a air routes
are mainly include domestic routes and Short overseas routes and it is
introduced that subject serves both domestic and overseas customers and also
supplies charter service
|
Import right |
Yes |
|
Export right |
Yes |
Settlements
Purchase
Subject did not
introduce its purchasing terms.
Sales
Subject serves
both domestic and overseas customers, and its settlement is mainly Cash, CBD
and COD, etc
Balance
Sheets
Unit: NTD/000
|
|
|
|
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash & cash equivalents |
738,662.00 |
414,043.00 |
|
For sale financial assets-current |
21,127.00 |
25,814.00 |
|
Notes Receivable-Net |
0 |
2,927.00 |
|
Account receivable-net |
155,848.00 |
266,031.00 |
|
Account receivable-net-related
parties |
204,435.00 |
242,856.00 |
|
Other receivables |
106,787.00 |
86,929.00 |
|
Inventories |
3,165,213.00 |
3,167,772.00 |
|
Advanced Charge |
213,149.00 |
176,829.00 |
|
Advance Payment |
65,254.00 |
62,067.00 |
|
Current Assets |
4,670,475.00 |
4,445,268.00 |
|
Fund And Investment |
|
|
|
Financial Assets At Cost – Non current |
300,619.00 |
300,619.00 |
|
Long-term investments at equity |
175,593.00 |
148,798.00 |
|
Investment |
175,593.00 |
148,798.00 |
|
Fund And Investment |
476,212.00 |
449,417.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
10,823.00 |
206,359.00 |
|
Buildings |
514,057.00 |
655,754.00 |
|
Machinery & equipment |
666,081.00 |
575,299.00 |
|
Computer and communication Equipment |
42,518.00 |
44,448.00 |
|
Transporting Equipment |
39,429.00 |
41,203.00 |
|
Aviation equipment |
11,970,735.00 |
10,733,600.00 |
|
Office Equipment |
49,711.00 |
50,193.00 |
|
Other Devices |
188,934.00 |
202,530.00 |
|
Total Fixed Assets |
13,482,288.00 |
12,509,386.00 |
|
Accumulated Depreciation |
-8,116,001.00 |
-7,302,249.00 |
|
Cumulative loss-fixed assets |
-82,507.00 |
-82,507.00 |
|
Construction in progress and prepayments for equipment |
60,434.00 |
8,501.00 |
|
Net Fixed Assets |
5,344,214.00 |
5,133,131.00 |
|
|
|
|
|
Deferred Pension Costs |
4,596.00 |
9,187.00 |
|
Total Intangible Assets |
4,596.00 |
9,187.00 |
|
Other Assets |
|
|
|
234,090.00 |
472,097.00 |
|
|
2,460,948.00 |
2,605,665.00 |
|
|
The deferred income tax assets-Non Current |
70,252.00 |
70,252.00 |
|
Total other assets |
2,765,290.00 |
3,148,014.00 |
|
Total Assets |
13,260,787.00 |
13,185,017.00 |
|
Total Liab. and Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
1,651,000.00 |
2,229,000.00 |
|
|
Term Notes And Bills Payable |
779,039.00 |
1,208,365.00 |
|
15,716.00 |
214,437.00 |
|
|
Accounts Payable – Related Parties |
167,350.00 |
43,638.00 |
|
Accrued Charge |
1,396,509.00 |
1,601,486.00 |
|
Other Payables |
80,420.00 |
70,677.00 |
|
602,567.00 |
476,068.00 |
|
|
Current Portion |
1,806,427.00 |
1,502,143.00 |
|
Current liabilities |
6,499,028.00 |
7,345,814.00 |
|
Term Liability |
|
|
|
2,433,166.00 |
2,060,507.00 |
|
|
Term notes and accounts payable |
671,680.00 |
285,844.00 |
|
Term Liability |
3,104,846.00 |
2,346,351.00 |
|
Reserve |
|
|
|
|
|
|
|
Retirement allowance reserve/ Accrued Pension Liabilities |
470,777.00 |
441,783.00 |
|
37,025.00 |
27,829.00 |
|
|
Other Liabilities-others |
15,243.00 |
48,636.00 |
|
Total Other Liabilities |
523,045.00 |
518,248.00 |
|
Total Liabilities |
10,126,919.00 |
10,210,413.00 |
|
Stockholder's Equity |
|
|
|
Share Capital |
|
|
|
Ordinary Share Capital |
3,160,000.00 |
3,160,000.00 |
|
|
|
|
|
Capital Surplus- Gain on Sale of Fixed Assets |
3,873.00 |
3,873.00 |
|
Capital Surplus- donated assets |
5,262.00 |
5,232.00 |
|
Total Capital Surplus |
9,135.00 |
9,105.00 |
|
|
|
|
|
1,906.00 |
0 |
|
|
For not retained earnings |
-28,651.00 |
-207,664.00 |
|
Retained earnings amounted to |
-26,745.00 |
-207,664.00 |
|
Total other adjustment of stockholders’ equity |
|
|
|
Net Loss Not Recognized As Pension Cost |
-21,723.00 |
0 |
|
Unrealized gain or loss on financial instrument |
13,201.00 |
13,163.00 |
|
Total other adjustment of stockholders’ equity |
-8,522.00 |
13,163.00 |
|
Total Stockholders’ Equity |
3,133,868.00 (USD
107,805,059) |
2,974,604.00 (USD
102,326,378) |
(As of 2011.09, 1
NTD = 0.0344 USD)
Profit and
Loss Account
Unit: NTD/000
|
|
~ |
~ |
|
4,227,685.00 (USD
145,432,364) |
3,764,104.00 (USD
129,485,178) |
|
|
4,008,346.00 |
3,195,594.00 |
|
|
Gross profit
(loss) |
219,339.00 |
568,510.00 |
|
Total operating
expenses |
389,855.00 |
321,702.00 |
|
Net operating
profit (Loss) |
-170,516.00 |
246,808.00 |
|
Non-operating
revenue and profit |
|
|
|
Interest Income |
8,643.00 |
4,686.00 |
|
Income From
Investment |
117,031.00 |
52,388.00 |
|
Investment
Profit Recognized Under Equity Method |
17,345.00 |
18,714.00 |
|
99,686.00 |
33,674.00 |
|
|
Sanctions fixed
assets interests |
34,858.00 |
147 |
|
16,980.00 |
4,609.00 |
|
|
Miscellaneous
Income |
425 |
7,494.00 |
|
Non-operating
revenue and profit |
177,937.00 |
69,324.00 |
|
Non-operating
expenses and losses |
|
|
|
50,974.00 |
72,611.00 |
|
|
Sanctions fixed
assets loss |
17 |
0 |
|
Loss On Disposal
Of Investments |
2,203.00 |
0 |
|
Miscellaneous
Expenses |
31 |
12 |
|
Non-operating
expenses and losses |
53,225.00 |
72,623.00 |
|
Net Profits
(loss) before tax from continuing operations |
-45,804.00 |
243,509.00 |
|
0 |
12,397.00 |
|
|
Unit Net Profits
(loss) before tax from continuing operations |
-45,804.00 |
231,112.00 |
|
Net Profits
(loss) |
-45,804.00 (USD -1,575,658) |
231,112.00 (USD 7,950,253) |
|
Basic earnings
per share |
|
|
|
Basic earnings
per share |
-0.14 |
0.73 |
|
diluted earnings
per share |
- |
- |
(As of 2011.09, 1
NTD = 0.0344 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: |
99,北小移調,89 |
|
Trial Date: |
991229 |
|
Reason |
Payment |
|
2 |
|
|
Trial Number: |
97,北勞簡,77 |
|
Trial Date: |
971222 |
|
Reason |
|
|
3 |
|
|
Trial Number: |
95,北簡,54152 |
|
Trial Date: |
951219 |
|
Reason |
Payment |
|
4 |
|
|
Trial Number: |
92,北簡,4089 |
|
Trial Date: |
920630 |
|
Reason |
Not stated |
Interview
Details
|
Department |
Customer service. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.84 |
|
UK Pound |
1 |
Rs.75.40 |
|
Euro |
1 |
Rs.65.68 |
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.