MIRA INFORM REPORT

Report Date :

21.09.2011


Tel. No.:	886 2 2881 1111

IDENTIFICATION DETAILS

Name :	SHIHLIN PAPER CORP.

Registered Office :	31 Futeh Road Shihlin District Taipei

Country :	Taiwan

Financials (as on) :	31.12.2010

Date of Incorporation :	08.09.1959

Legal Form :	Public Independent

Line of Business :	Manufacture of other articles of paper and paperboard not elsewhere classified

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate

Payment Behaviour :	Slow

Litigation :	--

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 31^st, 2011

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Taiwan

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company name and address

Top of Form

Bottom of Form

Shihlin Paper Corp.

31 Futeh Road
Shihlin District

Taipei,
Taiwan

Tel:	886-2-28811111
Fax:	886-2-28827099

www.shihlin.com.tw

Employees:

329

Company Type:

Public Independent

Traded:

Taiwan Stock Exchange:

1903

Incorporation Date:

08-Sep-1959

Auditor:

Earnest & Company CPAs

Financials in:	USD (mil)

Fiscal Year End:	31-Dec-2010
Reporting Currency:	Taiwanese New Dollar
Annual Sales:	69.7 ¹
Net Income:	(5.6)
Total Assets:	256.5 ²
Market Value:	486.7
	(02-Sep-2011)

Business Description

Shihlin Paper Corp. is primarily engaged in the manufacture and distribution of paper and related products. The Company's major products include ivory boards, used for playing cards and game cards; duplex boards with white back, applied for tag cards and packaging containers for computers, foods and electronic parts; duplex boards with gray back, used for shoe boxes, tissue paper boxes, liner boards and packaging containers; color cards, used for folders and art cards; black boards, applied to speakers, frames and albums; chip boards, used for gift boxes and book bindings, as well as non-coated board with gray back, used for shoe boxes and environmental cartons. The Company distributes its products in domestic markets and to overseas markets, including Southeast Asia. For the nine months ended 30 September 2010, Shihlin Paper Corporation's revenues increased 35% to NT$1.58B. Net loss for the period decreased 50% to NT$90.7M. Total revenues reflect an increase in sale due to favorable market condition. Lower net loss reflects an increase in dividend income, higher rent income, a decrease in interest expenses, an increase in miscellaneous income and a decrease in research & development expenses.

Industry

Industry	Paper and Paper Products
ANZSIC 2006:	1529 - Other Converted Paper Product Manufacturing
NACE 2002:	2125 - Manufacture of other articles of paper and paperboard not elsewhere classified
NAICS 2002:	322222 - Coated and Laminated Paper Manufacturing
UK SIC 2003:	21259 - Manufacture of other articles of paper and paperboard not elsewhere classified
US SIC 1987:	2679 - Converted Paper and Paperboard Products, Not Elsewhere Classified

Key Executives

Name	Title
Meiru Chen	Deputy General Manager
Chian-Kun Chen	President
Chu-Mei Chen	Manager-Human Resources
Chaochuan Chen	Chairman of the Board
Boting Chen	Vice Chairman of the Board

Significant Developments

Topic	#*	Most Recent Headline	Date
Dividends	1	Shihlin Paper Corp. Announces No Dividend Payment for FY 2010	23-Mar-2011

* number of significant developments within the last 12 months

News

Title	Date
STOCKS - TAIWAN SHARES END LOWER - NOV 15, 2010 Asia Pulse Businesswire (417 Words)	15-Nov-2010
STOCKS - TAIWAN SHARES CLOSE HIGHER - OCT 13, 2010 Asia Pulse Businesswire (407 Words)	13-Oct-2010
STOCKS - TAIWAN SHARES CLOSE LOWER - OCT 12, 2010 Asia Pulse Businesswire (398 Words)	12-Oct-2010

Financial Summary

As of 31-Mar-2011

Key Ratios	Company	Industry
Current Ratio (MRQ)	0.93	2.10
Quick Ratio (MRQ)	0.61	1.23
Debt to Equity (MRQ)	0.23	1.32
Sales 5 Year Growth	9.13	1.68
Net Profit Margin (TTM) %	-6.82	3.25
Return on Assets (TTM) %	-2.09	3.13
Return on Equity (TTM) %	-3.53	9.87

Stock Snapshot

Traded: Taiwan Stock Exchange: 1903

As of 2-Sep-2011

Financials in: TWD

Recent Price	54.30	EPS	-0.68
52 Week High	80.90	Price/Sales	6.44
52 Week Low	49.40	Price/Book	3.17
Avg. Volume (mil)	0.39	Beta	1.50
Market Value (mil)	14,120.12

	Price % Change	Rel S&P 500%
4 Week	-4.40%	-3.22%
13 Week	-7.18%	8.24%
52 Week	-18.96%	-19.34%
Year to Date	-27.79%	-16.47%

1 - Profit & Loss Item Exchange Rate: USD 1 = TWD 31.49704
2 - Balance Sheet Item Exchange Rate: USD 1 = TWD 29.1565

Corporate Overview

Location
31 Futeh Road
Shihlin District
Taipei, Taiwan

Tel:	886-2-28811111
Fax:	886-2-28827099

www.shihlin.com.tw

Quote Symbol - Exchange
1903 - Taiwan Stock Exchange

Sales TWD(mil):	2,194.0
Assets TWD(mil):	7,478.6
Employees:	329
Fiscal Year End:	31-Dec-2010


Industry:	Paper and Paper Products

Incorporation Date:	08-Sep-1959
Company Type:	Public Independent
Quoted Status:	Quoted


Chairman of the Board:	Chaochuan Chen

Company Web Links

Company Contact/E-mail

Corporate History/Profile

Financial Information

Home Page

Products/Services

Contents

· Industry Codes

· Business Description

· Brand/Trade Names

· Financial Data

Market Data

Key Corporate Relationships

Industry Codes

ANZSIC 2006 Codes:
1521	-	Corrugated Paperboard and Paperboard Container Manufacturing
1510	-	Pulp, Paper and Paperboard Manufacturing
1529	-	Other Converted Paper Product Manufacturing

NACE 2002 Codes:
2111	-	Manufacture of pulp
2125	-	Manufacture of other articles of paper and paperboard not elsewhere classified
2123	-	Manufacture of paper stationery

NAICS 2002 Codes:
322231	-	Die-Cut Paper and Paperboard Office Supplies Manufacturing
322110	-	Pulp Mills
322222	-	Coated and Laminated Paper Manufacturing

US SIC 1987:
2679	-	Converted Paper and Paperboard Products, Not Elsewhere Classified
2675	-	Die-Cut Paper and Paperboard and Cardboard
2611	-	Pulp Mills

UK SIC 2003:
2111	-	Manufacture of pulp
21259	-	Manufacture of other articles of paper and paperboard not elsewhere classified
2123	-	Manufacture of paper stationery

Business Description

More Business Descriptions

Manufacture of paperboard and paper products including playing cards, calendars and shoe boxes

Paper Bag and Coated and Treated Paper Manufacturing

Brand/Trade Names

SHIHLIN

Financial Data

Financials in:	TWD(mil)

Revenue:	2,194.0
Net Income:	-176.0
Assets:	7,478.6
Long Term Debt:	0.0
Total Liabilities:	3,023.3
Working Capital:	0.7

Date of Financial Data:	31-Dec-2010

1 Year Growth

25.4%

3.7%

Market Data

Quote Symbol:	1903
Exchange:	Taiwan Stock Exchange
Currency:	TWD
Stock Price:	54.3
Stock Price Date:	09-02-2011
52 Week Price Change %:	-19.0
Market Value (mil):	14,120,120.0

SEDOL:	6804530
ISIN:	TW0001903003

Equity and Dept Distribution:
Company start filing consol fncls from FY'03 onwards. FY'01 & '02 Employee Numbers are taken from parent company. 08/1997, 7.3% stock dividend. 08/1999, 8% stock dividend. 08/2001, 8% stock dividend. FY'10 Q1 C/F has been CLA.

Key Corporate Relationships

Auditor:	Earnest & Company CPAs

Auditor:	Earnest & Company CPAs, Kwang-I Earnest & Co

Executives Report

Board of Directors

Name

Title

Function

Chaochuan Chen

Chairman of the Board

Chairman

Chen Chaochuan has been Chairman of the Board in Shihlin Paper Corporation. Chen is also Chairman of the Board in two another companies.

Boting Chen

Vice Chairman of the Board

Vice-Chairman

Chen Boting is serving as Vice President in Shihlin Paper Corporation. Chen is also Chairman of the Board in Wan Hai Lines Ltd. Chen use to be Director in the Company Chen holds a Master's degree from University of San Francisco, the United States.

Education

MBA , University of San Francisco

Jiankun Chen

General Manager, Director

Director/Board Member

Ching-Chi Chen

Director

Director/Board Member

Chao-Heng Chen

Director

Director/Board Member

Chi-Hsiang Chen

Director

Director/Board Member

Huiying Chen

Director

Director/Board Member

Chen Huiying has been Director in Shihlin Paper Corporation since March 25, 1972. Chen holds a Master's degree from Harvard University, the United States. Chen is also Chairman of the Board in another company.

Education

M , Harvard University

Chaoheng Chen

Director

Director/Board Member

Chen Chaoheng has been Director in Shihlin Paper Corporation since December 20, 1962. Chen holds a Master's degree from Tokyo University, Japan. Chen is also Director in a property insurance company.

Education

M , University of Tokyo

Zhixiang Chen

Director

Director/Board Member

Chen Zhixiang has been Director in Shihlin Paper Corp. since May 15, 1998. Chen is also Director in a development company.

Yi Tsan Li

Director

Director/Board Member

Yican Li

Director

Director/Board Member

Li Yican has been Director in Shihlin Paper Corporation since June 13, 2007. Li is also Director in a development company.

Zhengxian Lin

Director

Director/Board Member

Lin Zhengxian has been Director in Shihlin Paper Corporation since June 13, 2007. Lin is also Director in Wan Hai Lines Ltd. Lin holds a Master's degree in Law from Southern Methodist University, the United States.

Education

M Law, Southern Methodist University

Yunsheng Lin

Director

Director/Board Member

Lin Yunsheng has been Director in Shihlin Paper Corporation since June 23, 2004. Lin is also General Manager in a technology industry company.

Cheng Hsian Lin

Director

Director/Board Member

Executives

Name

Title

Function

Chian-Kun Chen

President

Jiankun Chen

General Manager, Director

Division Head Executive

Chu-Mei Chen

Manager-Human Resources

Human Resources Executive

Meiru Chen

Deputy General Manager

Other

Chen Meiru has been Deputy General Manager in Shihlin Paper Corporation since July 1, 2004. Chen is also Director in two other companies. Chen holds a Master's degree from Boston University, the United States.

Education

M , Boston University

Significant Developments

Shihlin Paper Corp. Announces No Dividend Payment for FY 2010

Mar 23, 2011

Shihlin Paper Corp. announced that it will pay no dividend to shareholders for fiscal year 2010.

STOCKS - TAIWAN SHARES END LOWER - NOV 15, 2010

Asia Pulse Businesswire: 15 November 2010
[What follows is the full text of the news story.]

TAIPEI, Nov 15Asia Pulse - Taiwan share prices closed down 0.90 per cent Monday after Wall Street slumped late last week amid concerns that China will further tighten its money supply to fight inflation, dealers said.

The weighted index fell 75.40 points to 8,240.65, after moving between 8,226.71 and 8,301.35, on turnover of NT$86.97 billion (US$2.88 billion).

The market opened down 0.34 per cent in reaction to Wall Street's fall, and selling accelerated as investors feared foreign funds would flee Asian markets once China adopted further monetary tightening measures to combat inflation, dealers said.

China's inflation worries grew after prices in the country rose 4.4 per cent in October, a 25-month high.

A total of 2,967 stocks closed down, 945 finished up, and 246 remaining unchanged.

Textile shares suffered the steepest decline, losing 4.7 per cent. Paper and pulp stocks fell 3.8 per cent, construction firms shed 3.7 per cent, cement shares lost 2.0 per cent and the plastics and chemical sector closed down 1.8 per cent.

Both the foodstuff sector and financial sector fell 1.3 per cent, while machinery and electronic stocks closed down 0.1 per cent.

"The selling focused on old economy stocks, which had been boosted significantly by a rising local currency, " Mega Securities analyst Alex Huang said.

"Investors were afraid that once foreign funds leave Taiwan, the recent upside of the New Taiwan dollar against the U.S. dollar would be reversed, dragging down the value of the domestic assets of these firms," Huang said.

According to the analyst, there have been signs that foreign institutional investors were moving funds out of Taiwan after pocketing recent gains in the foreign exchange market and the bourse.

"The central bank may be relieved to some extent as worries over rapid appreciation of the New Taiwan dollar have been reduced," Huang said. "But the depletion of funds is the last thing the local stock market wants to have."

Huang said the local bourse has become technically destabilized, and with market sentiment cautious, further selling is possible.

"To what extent it will go is up to Wall Street's movements, " he said.

Among big movers among the non-high-tech stocks, Prince Housing shed 4.55 per cent to NT$24.15, textile maker Far Eastern New Century fell 4.47 per cent to NT$44.90, and Shihlin Paper lost 2.98 per cent to NT$71.70.

(CNA) nt

15-11 1927

STOCKS - TAIWAN SHARES CLOSE HIGHER - OCT 13, 2010

Asia Pulse Businesswire: 13 October 2010
[What follows is the full text of the news story.]

TAIPEI, Oct 13Asia Pulse - Taiwan share prices closed up 0.20 per cent Wednesday on a technical rebound from the previous session, but the gains were compromised by selling in large-cap electronics stocks amid renewed concerns over the earnings outlook, dealers said.

The weighted index rose 16.44 points to 8,106.66, after moving between 8,067.87 and 8,143.19, on turnover of NT$104.80 billion (US$3.38 billion).

The market opened up 0.33 per cent and buying in select old economy stocks lifted the index to the day's high, while fears of falling global demand for high-tech products capped the gains on the broader market, the dealers said.

A total of 1,680 stocks closed up and 1,975 were down, with 400 remaining unchanged.

The paper and pulp sector scored the highest gains, up 2.13 per cent on global rising pulp prices, according to the dealers.

Plastics and chemicals rose 1.39 per cent, construction stocks added 0.6 per cent, foodstuffs gained 0.44 per cent, cement stocks added 0.38 per cent and textile stocks closed up 0.08 per cent.

The financial sector rose 0.06 per cent, while machinery and electronics stocks gained 0.01 per cent.

"With recent U.S. economic data pointing to a sluggish economic climate, fears of a slowing fourth quarter for the electronics sector came back to haunt investors," Concord Securities analyst Allen Lin said.

Lin said a rising New Taiwan dollar further dampened market sentiment as investors were afraid that the local high-tech sector will suffer foreign exchange losses that are expected to impact fourth quarter earnings.

"As the high-tech sector remained lackluster, it was difficult for the market to get out of the current trade range, although some rotational buying boosted the traditional industrial sector," Lin said.

Lin said that ahead of the strong technical resistance at around the 8,200 point-mark, the market is expected to continue in consolidation mode.

Among the large electronics stocks, smartphone maker HTC fell 4.29 per cent to close at NT$669.00 and cell phone camera lens producer Largan Precision shed 6.54 per cent to finish at NT$543.00.

In the paper and pulp sector, Shihlin Paper rose 1.62 per cent to end the day at NT$72.60 and Chung Hwa Pulp gained 2.55 per cent to NT$16.10 at the close of trade.

(CNA) bl

13-10 1921

Annual Income Statement

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007	Updated Normal 31-Dec-2006
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	31.497037	33.023867	31.543497	32.848802	32.525305
Auditor	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified

Net Sales	0.4	0.8	7.6	32.0	15.5
Gross Revenue	69.3	52.2	65.0	54.1	41.4
Sales Returns and Allowances	0.0	0.0	-0.2	0.0	-0.2
Revenue	69.7	53.0	72.4	86.0	56.7
Total Revenue	69.7	53.0	72.4	86.0	56.7

Cost of Revenue	66.2	50.1	66.3	65.4	51.7
Cost of Revenue, Total	66.2	50.1	66.3	65.4	51.7
Gross Profit	3.4	2.8	6.1	20.6	5.1

Selling/General/Administrative Expense	8.7	10.4	9.6	9.4	7.3
Total Selling/General/Administrative Expenses	8.7	10.4	9.6	9.4	7.3
Research & Development	0.3	0.3	0.4	0.3	0.3
Impairment-Assets Held for Use	-	-	0.0	4.3	-
Unusual Expense (Income)	-	-	0.0	4.3	-
Total Operating Expense	75.2	60.8	76.3	79.4	59.3

Operating Income	-5.5	-7.8	-3.9	6.7	-2.6

Interest Expense - Non-Operating	-0.2	-0.2	-1.3	-0.9	-0.6
Interest Expense, Net Non-Operating	-0.2	-0.2	-1.3	-0.9	-0.6
Interest Income - Non-Operating	-	-	-	-	1.5
Investment Income - Non-Operating	-0.5	-0.1	0.9	1.2	0.1
Interest/Investment Income - Non-Operating	-0.5	-0.1	0.9	1.2	1.7
Interest Income (Expense) - Net Non-Operating Total	-0.7	-0.3	-0.5	0.4	1.1
Gain (Loss) on Sale of Assets	0.0	0.0	0.0	0.4	0.0
Other Non-Operating Income (Expense)	0.7	0.6	0.5	0.7	0.4
Other, Net	0.7	0.6	0.5	0.7	0.4
Income Before Tax	-5.6	-7.6	-3.9	8.2	-1.0

Total Income Tax	0.0	0.0	0.0	0.0	0.0
Income After Tax	-5.6	-7.6	-3.9	8.2	-1.0

Net Income Before Extraord Items	-5.6	-7.6	-3.9	8.2	-1.0
Net Income	-5.6	-7.6	-3.9	8.2	-1.0

Income Available to Common Excl Extraord Items	-5.6	-7.6	-3.9	8.2	-1.0

Income Available to Common Incl Extraord Items	-5.6	-7.6	-3.9	8.2	-1.0

Basic/Primary Weighted Average Shares	260.0	260.0	260.0	260.0	260.0
Basic EPS Excl Extraord Items	-0.02	-0.03	-0.01	0.03	0.00
Basic/Primary EPS Incl Extraord Items	-0.02	-0.03	-0.01	0.03	0.00
Dilution Adjustment	0.0	0.0	0.0	-	0.0
Diluted Net Income	-5.6	-7.6	-3.9	8.2	-1.0
Diluted Weighted Average Shares	260.0	260.0	260.0	260.0	260.0
Diluted EPS Excl Extraord Items	-0.02	-0.03	-0.01	0.03	0.00
Diluted EPS Incl Extraord Items	-0.02	-0.03	-0.01	0.03	0.00
Dividends per Share - Common Stock Primary Issue	0.00	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	0.0	0.0	0.0	0.0	0.0
Interest Expense, Supplemental	0.2	0.2	1.3	0.9	0.6
Interest Capitalized, Supplemental	-	-	-	-	0.0
Depreciation, Supplemental	2.0	2.1	2.3	3.1	3.7
Total Special Items	0.0	0.0	0.0	3.8	0.0
Normalized Income Before Tax	-5.6	-7.6	-3.9	12.0	-1.0

Effect of Special Items on Income Taxes	0.0	0.0	0.0	0.0	0.0
Inc Tax Ex Impact of Sp Items	0.0	0.0	0.0	0.0	0.0
Normalized Income After Tax	-5.6	-7.6	-3.9	12.0	-1.0

Normalized Inc. Avail to Com.	-5.6	-7.6	-3.9	12.0	-1.0

Basic Normalized EPS	-0.02	-0.03	-0.01	0.05	0.00
Diluted Normalized EPS	-0.02	-0.03	-0.01	0.05	0.00
Amort of Intangibles, Supplemental	1.0	1.1	0.6	0.4	0.3
Research & Development Exp, Supplemental	0.3	0.3	0.4	0.3	0.3
Normalized EBIT	-5.5	-7.8	-3.9	10.9	-2.6
Normalized EBITDA	-2.5	-4.6	-0.9	14.5	1.5
Current Tax - Total	-	0.0	0.0	0.0	-
Current Tax - Total	-	0.0	0.0	0.0	-
Other Tax	-	0.0	0.0	0.0	-
Income Tax - Total	-	0.0	0.0	0.0	-
Interest Cost - Domestic	0.1	0.1	0.2	0.2	0.2
Service Cost - Domestic	0.1	0.2	0.2	0.2	0.2
Prior Service Cost - Domestic	0.1	0.1	0.1	0.1	0.1
Expected Return on Assets - Domestic	0.0	0.0	0.0	0.0	0.0
Actuarial Gains and Losses - Domestic	-	0.0	0.0	0.0	0.1
Curtailments & Settlements - Domestic	-	-	0.0	0.0	-0.1
Transition Costs - Domestic	0.3	0.3	0.3	0.3	0.3
Domestic Pension Plan Expense	0.6	0.6	0.8	0.8	0.9
Defined Contribution Expense - Domestic	0.2	0.1	0.2	-	-
Total Pension Expense	0.8	0.8	0.9	0.8	0.9
Discount Rate - Domestic	2.25%	2.25%	2.50%	3.50%	3.50%
Expected Rate of Return - Domestic	2.00%	2.00%	2.50%	2.50%	2.50%
Compensation Rate - Domestic	1.00%	1.00%	1.00%	2.00%	2.00%
Total Plan Interest Cost	0.1	0.1	0.2	0.2	0.2
Total Plan Service Cost	0.1	0.2	0.2	0.2	0.2
Total Plan Expected Return	0.0	0.0	0.0	0.0	0.0

Annual Balance Sheet

Financials in: USD (mil)

Financial Glossary

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
UpdateType/Date	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007	Updated Normal 31-Dec-2006
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate	29.1565	31.985	32.818	32.4345	32.585
Auditor	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified

Cash & Equivalents	1.5	3.1	1.1	1.5	1.8
Short Term Investments	30.8	18.0	13.8	27.4	24.8
Cash and Short Term Investments	32.3	21.1	14.9	28.9	26.5
Accounts Receivable - Trade, Gross	-	-	1.3	1.9	2.3
Provision for Doubtful Accounts	-	-	0.0	-0.1	-0.1
Trade Accounts Receivable - Net	2.4	2.4	1.3	1.9	2.3
Notes Receivable - Short Term	0.2	0.2	0.1	0.0	0.4
Total Receivables, Net	2.7	2.6	1.4	1.9	2.7
Inventories - Finished Goods	4.8	5.1	7.3	6.6	6.0
Inventories - Work In Progress	1.2	0.7	53.5	43.2	20.1
Inventories - Raw Materials	6.0	4.9	4.1	4.7	4.6
Inventories - Other	0.8	-0.1	-1.8	-0.5	-1.7
Total Inventory	12.8	10.7	63.1	54.0	29.1
Prepaid Expenses	0.1	0.3	0.1	0.7	0.3
Other Current Assets	0.2	0.2	0.1	0.2	0.1
Other Current Assets, Total	0.2	0.2	0.1	0.2	0.1
Total Current Assets	48.1	34.9	79.5	85.7	58.6

Buildings	20.5	20.4	19.7	19.8	20.7
Land/Improvements	2.7	2.5	2.4	2.4	2.2
Machinery/Equipment	98.1	89.3	88.5	88.2	94.7
Construction in Progress	4.1	3.4	2.3	2.0	2.1
Leases	1.4	1.3	1.3	1.3	1.3
Other Property/Plant/Equipment	185.1	169.2	164.9	166.9	166.1
Property/Plant/Equipment - Gross	311.9	286.1	279.1	280.6	287.1
Accumulated Depreciation	-111.1	-103.2	-100.8	-100.5	-98.5
Property/Plant/Equipment - Net	200.8	182.9	178.3	180.1	188.6
Intangibles, Net	0.0	-	-	-	-
LT Investment - Affiliate Companies	-	-	-	-	0.1
LT Investments - Other	0.1	0.1	0.1	0.1	-
Long Term Investments	0.1	0.1	0.1	0.1	0.1
Deferred Charges	0.6	0.9	1.2	0.9	0.6
Pension Benefits - Overfunded	0.5	0.7	1.1	1.6	2.0
Other Long Term Assets	6.5	5.9	5.8	5.8	1.6
Other Long Term Assets, Total	7.5	7.5	8.1	8.4	4.2
Total Assets	256.5	225.4	266.0	274.3	251.6

Accounts Payable	7.1	4.9	2.7	4.7	2.6
Accrued Expenses	2.4	6.2	2.5	3.2	5.9
Notes Payable/Short Term Debt	35.3	23.1	29.8	40.0	40.2
Customer Advances	0.6	0.8	38.9	15.9	5.9
Income Taxes Payable	-	-	0.0	0.0	-
Other Payables	-	-	0.2	0.0	-
Other Current Liabilities	0.1	0.3	0.3	0.6	0.3
Other Current liabilities, Total	0.7	1.0	39.3	16.4	6.1
Total Current Liabilities	45.5	35.2	74.3	64.3	54.8

Total Long Term Debt	0.0	0.0	0.0	0.0	0.0
Total Debt	35.3	23.1	29.8	40.0	40.2

Reserves	54.8	50.0	49.2	49.8	49.8
Pension Benefits - Underfunded	3.2	3.3	3.6	4.1	4.5
Other Long Term Liabilities	0.1	0.1	0.1	0.1	0.2
Other Liabilities, Total	58.2	53.4	53.0	54.0	54.5
Total Liabilities	103.7	88.6	127.3	118.3	109.2

Common Stock	89.2	81.3	79.2	80.2	79.8
Common Stock	89.2	81.3	79.2	80.2	79.8
Retained Earnings (Accumulated Deficit)	-55.8	-45.3	-36.6	-33.2	-41.3
Unrealized Gain (Loss)	119.4	100.9	96.0	109.0	103.9
Total Equity	152.8	136.8	138.7	156.0	142.4

Total Liabilities & Shareholdersâ€™ Equity	256.5	225.4	266.0	274.3	251.6

Shares Outstanding - Common Stock Primary Issue	260.0	260.0	260.0	260.0	260.0
Total Common Shares Outstanding	260.0	260.0	260.0	260.0	260.0
Treasury Shares - Common Stock Primary Issue	0.0	0.0	0.0	0.0	-
Employees	-	321	312	352	308
Number of Common Shareholders	15,116	15,152	12,975	12,884	13,414
Deferred Revenue - Current	0.6	0.8	38.9	15.9	5.9
Pension Obligation - Domestic	4.7	4.1	4.8	5.6	5.8
Plan Assets - Domestic	1.0	0.4	0.7	0.6	0.4
Funded Status - Domestic	-3.7	-3.8	-4.1	-5.0	-5.4
Accumulated Obligation - Domestic	4.2	3.7	4.3	4.7	4.9
Total Funded Status	-3.7	-3.8	-4.1	-5.0	-5.4
Discount Rate - Post-Retirement	2.25%	2.25%	2.50%	3.50%	3.50%
Expected Rate of Return - Domestic	2.00%	2.00%	2.50%	2.50%	2.50%
Compensation Rate - Domestic	1.00%	1.00%	1.00%	2.00%	2.00%
Prepaid Benefits - Domestic	0.5	0.7	1.1	1.6	2.0
Accrued Liabilities - Domestic	-3.2	-3.3	-3.6	-4.1	-4.5
Net Assets Recognized on Balance Sheet	-2.8	-2.6	-2.5	-2.5	-2.5
Total Plan Obligations	4.7	4.1	4.8	5.6	5.8
Total Plan Assets	1.0	0.4	0.7	0.6	0.4

Annual Cash Flows

Financials in: USD (mil)

Financial Glossary

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007	Updated Normal 31-Dec-2006
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	31.497037	33.023867	31.543497	32.848802	32.525305
Auditor	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified

Net Income/Starting Line	-5.6	-7.6	-3.9	8.2	-1.0
Depreciation	2.0	2.1	2.3	3.1	3.7
Depreciation/Depletion	2.0	2.1	2.3	3.1	3.7
Amortization of Intangibles	1.0	-	-	-	-
Amortization	1.0	-	-	-	-
Unusual Items	0.4	0.0	1.3	3.5	-0.1
Other Non-Cash Items	0.3	-0.5	2.0	-0.8	0.4
Non-Cash Items	0.6	-0.5	3.2	2.8	0.3
Accounts Receivable	0.1	-1.1	0.4	0.8	0.6
Inventories	-1.3	52.9	-11.4	-23.3	-14.2
Prepaid Expenses	0.2	-0.4	0.7	-0.4	-0.2
Other Assets	-0.1	0.0	0.3	-0.1	0.2
Accounts Payable	1.6	2.1	-2.0	2.1	-0.4
Accrued Expenses	-4.0	3.3	-0.7	-2.7	0.9
Taxes Payable	-	0.0	0.0	0.0	0.0
Other Liabilities	-0.9	-37.4	23.8	10.4	4.8
Changes in Working Capital	-4.3	19.5	11.1	-13.3	-8.3
Cash from Operating Activities	-6.2	13.5	12.8	0.7	-5.3

Purchase of Fixed Assets	-2.3	-2.0	-2.8	-2.5	-1.8
Purchase/Acquisition of Intangibles	0.0	-	-	-	-
Capital Expenditures	-2.3	-2.0	-2.8	-2.5	-1.8
Sale of Fixed Assets	0.0	0.0	0.0	0.5	0.0
Sale/Maturity of Investment	22.6	20.5	24.8	15.1	6.6
Purchase of Investments	-25.1	-21.3	-24.6	-12.5	-4.9
Other Investing Cash Flow	-0.6	-0.8	-0.9	-0.8	-0.4
Other Investing Cash Flow Items, Total	-3.1	-1.6	-0.7	2.3	1.3
Cash from Investing Activities	-5.3	-3.6	-3.5	-0.2	-0.5

Other Financing Cash Flow	0.0	0.0	0.0	-0.1	-0.1
Financing Cash Flow Items	0.0	0.0	0.0	-0.1	-0.1
Short Term Debt, Net	9.8	-7.9	-9.7	-0.7	3.6
Issuance (Retirement) of Debt, Net	9.8	-7.9	-9.7	-0.7	3.6
Cash from Financing Activities	9.8	-7.9	-9.7	-0.8	3.6

Net Change in Cash	-1.8	2.0	-0.4	-0.3	-2.2

Net Cash - Beginning Balance	3.2	1.1	1.6	1.7	3.9
Net Cash - Ending Balance	1.4	3.0	1.1	1.5	1.8
Cash Interest Paid	0.2	0.3	1.3	0.8	0.6
Cash Taxes Paid	0.0	0.0	0.0	0.0	0.0

Annual Income Statement

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007	Updated Normal 31-Dec-2006
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	31.497037	33.023867	31.543497	32.848802	32.525305
Auditor	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified

Gross Sales	69.3	52.2	65.0	54.1	41.4
Sales Returns	-	-	0.0	0.0	0.0
Sales Discounts and Allowances	0.0	0.0	0.0	0.0	-0.2
Construction Revenue	0.1	0.7	7.5	31.8	15.0
Construction Discounts and Allowances	-	-	-0.2	0.0	-
Rental Revenues	0.3	0.1	0.1	0.1	0.5
Total Revenue	69.7	53.0	72.4	86.0	56.7

Cost of Sales	65.9	49.8	62.1	55.4	46.1
Contruction Cost	0.1	0.2	2.8	11.1	5.3
Rental Costs	0.2	0.1	0.1	0.1	0.3
Selling Expenses	4.8	4.4	5.1	5.1	3.1
General and Administrative Expenses	3.9	6.0	4.5	4.3	4.2
Research and Development Expenses	0.3	0.3	0.4	0.3	0.3
Inventory Devaluation & Obsolescence	-	-	1.3	-1.2	-
Impairment Loss	-	-	0.0	4.3	-
Total Operating Expense	75.2	60.8	76.3	79.4	59.3

Interest Income	-	-	-	-	1.5
Dividend Income	0.0	0.0	1.9	0.9	-
Gain on Sale of Fixed Assets&Idle Asset	0.0	0.0	0.0	0.4	0.0
Gain on Sale of Investments	0.0	0.0	0.0	1.1	0.1
Gain on Foreign Exchange	-	0.0	0.2	0.0	-
Rent Income	0.5	0.4	0.5	0.5	0.4
Miscellaneous Income	0.5	0.2	0.2	0.2	0.3
Interest Expense	-0.2	-0.2	-1.3	-0.9	-0.6
Investment Loss	-0.3	0.0	-1.3	-0.8	0.0
Loss on Disposal of Fixed Assets	0.0	0.0	-	-	-
Foreign Exchange Losses	-0.2	-0.1	-	-	-
Miscellaneous Disbursements	-0.3	0.0	-0.2	0.0	-0.3
Net Income Before Taxes	-5.6	-7.6	-3.9	8.2	-1.0

Provision for Income Taxes	0.0	0.0	0.0	0.0	0.0
Net Income After Taxes	-5.6	-7.6	-3.9	8.2	-1.0

Net Income Before Extra. Items	-5.6	-7.6	-3.9	8.2	-1.0
Net Income	-5.6	-7.6	-3.9	8.2	-1.0

Income Available to Com Excl ExtraOrd	-5.6	-7.6	-3.9	8.2	-1.0

Income Available to Com Incl ExtraOrd	-5.6	-7.6	-3.9	8.2	-1.0

Basic Weighted Average Shares	260.0	260.0	260.0	260.0	260.0
Basic EPS Excluding ExtraOrdinary Items	-0.02	-0.03	-0.01	0.03	0.00
Basic EPS Including ExtraOrdinary Items	-0.02	-0.03	-0.01	0.03	0.00
Dilution Adjustment	0.0	0.0	0.0	-	0.0
Diluted Net Income	-5.6	-7.6	-3.9	8.2	-1.0
Diluted Weighted Average Shares	260.0	260.0	260.0	260.0	260.0
Diluted EPS Excluding ExtraOrd Items	-0.02	-0.03	-0.01	0.03	0.00
Diluted EPS Including ExtraOrd Items	-0.02	-0.03	-0.01	0.03	0.00
DPS-Common Stock	0.00	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	0.0	0.0	0.0	0.0	0.0
Normalized Income Before Taxes	-5.6	-7.6	-3.9	12.0	-1.0

Inc Tax Ex Impact of Sp Items	0.0	0.0	0.0	0.0	0.0
Normalized Income After Taxes	-5.6	-7.6	-3.9	12.0	-1.0

Normalized Inc. Avail to Com.	-5.6	-7.6	-3.9	12.0	-1.0

Basic Normalized EPS	-0.02	-0.03	-0.01	0.05	0.00
Diluted Normalized EPS	-0.02	-0.03	-0.01	0.05	0.00
Interest Expense, Supplemental	0.2	0.2	1.3	0.9	0.6
Interest Capitalized	-	-	-	-	0.0
R&D Expense, Supplemental	0.3	0.3	0.4	0.3	0.3
Depreciation - Operating Cost	1.9	2.0	2.2	3.0	3.6
Depreciation - Operating Expense	0.1	0.1	0.1	0.1	0.1
Amortization - Operating Cost	1.0	1.1	0.6	0.4	0.3
Amortization - Operating Expense	0.0	0.0	0.0	0.0	0.0
Current Tax	-	0.0	0.0	0.0	-
Current Tax - Total	-	0.0	0.0	0.0	-
Other Income Tax	-	0.0	0.0	0.0	-
Income Tax - Total	-	0.0	0.0	0.0	-
Service Cost	0.1	0.2	0.2	0.2	0.2
Interest Cost	0.1	0.1	0.2	0.2	0.2
Expected Return on Plan Assets	0.0	0.0	0.0	0.0	0.0
Amort. of Unrecognized Transitional Cost	0.3	0.3	0.3	0.3	0.3
Amort. of Unrecognized Prior Svc Cost	0.1	0.1	0.1	0.1	0.1
Amort. of Actuarial Gain/Loss	-	0.0	0.0	0.0	0.1
Curtailment & Settlement Gain/Loss	-	-	0.0	0.0	-0.1
Domestic Pension Plan Expense	0.6	0.6	0.8	0.8	0.9
Defined Contribution Expense	0.2	0.1	0.2	-	-
Total Pension Expense	0.8	0.8	0.9	0.8	0.9
Discount Rate	2.25%	2.25%	2.50%	3.50%	3.50%
Rate of Compensation Increase	1.00%	1.00%	1.00%	2.00%	2.00%
Expected Rate of Return on Plan Assets	2.00%	2.00%	2.50%	2.50%	2.50%

Annual Balance Sheet

Financials in: USD (mil)

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
UpdateType/Date	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007	Updated Normal 31-Dec-2006
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate	29.1565	31.985	32.818	32.4345	32.585
Auditor	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified

Cash and Cash Equivalent	1.5	3.1	1.1	1.5	1.8
Fncl. Assets-Fair Value	3.7	-	-	-	24.5
Financial Assets - Hold for Sale	26.8	17.8	13.6	27.1	-
Notes Receivable	0.2	0.2	0.1	0.0	0.4
Accounts Receivable, Gross	-	-	1.3	1.9	2.3
Provision for Doubtful Accounts	-	-	0.0	-0.1	-0.1
Accounts Receivable, Net	2.4	2.4	-	-	-
Other Fncl. Assets	0.3	0.2	0.1	0.3	0.3
Merchandise	0.0	0.0	0.0	0.0	0.1
Finished Goods	3.7	4.1	7.3	6.6	6.0
Work-in-Process	1.2	0.7	2.6	1.1	1.9
Raw Material / Supplies	6.0	4.9	4.1	4.7	4.2
Inventory in Transit	1.2	0.0	-	-	-
Materials in Transit	-	-	0.0	0.0	0.4
Provision/Allowance for Inventory	-0.4	-0.1	-1.8	-0.5	-1.7
Real Estate for Sale	1.1	1.1	-	-	-
Real Estate under Construction	0.0	0.0	50.9	42.1	18.3
Deferred Selling Expense	0.0	0.0	0.1	0.2	0.1
Prepayment	0.1	0.3	-	-	-
Prepayment & Other Current Assets	-	-	0.1	0.7	0.3
Other Current Assets	0.1	0.1	-	-	-
Total Current Assets	48.1	34.9	79.5	85.7	58.6

Long Term Equity Investment	-	-	-	-	0.1
Long Term Investment - Cost Method	0.1	0.1	0.1	0.1	-
Land and Improvements	2.7	2.5	2.4	2.4	2.2
Buildings and Structures	20.5	20.4	19.7	19.8	20.7
Machinery and Equipment	94.4	85.9	85.1	84.9	91.4
Transportation Equipment	2.0	1.9	1.9	1.9	1.8
Miscellaneous Equipment	1.7	1.6	1.5	1.4	1.5
Assets Revaluation Increment	185.1	169.2	164.9	166.9	166.1
Accumulated Depreciation	-106.2	-98.7	-96.5	-96.1	-98.4
Construct. in Progress & Equip. Prepay	4.1	3.4	2.3	2.0	2.1
Computer Software Cost	0.0	-	-	-	-
Deferred Pension Cost	0.5	0.7	1.1	1.6	2.0
Assets for Lease	1.4	1.3	1.3	1.3	1.3
Accumulated Depreciation-Asset for Lease	-0.2	-0.1	-0.1	-0.1	-0.1
Idle Assets	5.7	5.2	5.1	5.1	0.9
Provision for Impairment of Idle Assets	-4.8	-4.4	-4.3	-4.3	-
Security Deposits Paid	0.0	0.0	0.0	0.0	0.0
Deferred Charges	0.6	0.9	1.2	0.9	0.6
Other Long Term Assets	0.8	0.7	0.7	0.7	0.7
Total Assets	256.5	225.4	266.0	274.3	251.6

Short Term Borrowings	28.6	14.7	26.6	36.3	36.2
Short Term Notes & Bills Payable	6.3	7.5	3.0	3.1	3.7
Notes Payable	0.3	0.9	0.2	0.6	0.3
Accounts Payable	7.1	4.9	2.7	4.7	2.6
Income Taxes Payable	-	-	0.0	0.0	-
Accrued Expenses	2.4	6.2	2.5	3.2	5.9
Employee Bonus Payable	-	-	0.2	0.0	-
Advance Receipts	0.6	0.8	-	-	-
Advance Receipts on Real Estate	-	0.0	31.3	12.0	3.9
Advance Receipts on Real Estate, Related	-	0.0	7.6	3.9	1.9
Other Current Liabilities	0.1	0.3	0.3	0.6	0.3
Total Current Liabilities	45.5	35.2	74.3	64.3	54.8

Land Revaluation Increment Tax Reserve	54.8	50.0	49.2	49.8	49.8
Accrued Pension Liabilities	3.2	3.3	3.6	4.1	4.5
Long Term Security Deposits Received	0.1	0.1	0.1	0.1	0.2
Total Liabilities	103.7	88.6	127.3	118.3	109.2

Common Stock	89.2	81.3	79.2	80.2	79.8
Retained Earnings	-55.8	-45.3	-36.6	-33.2	-41.3
Unrealized G/L on Fin. Asset for Sale	7.0	-1.6	-4.4	7.3	2.5
Unrealized Revaluation Gain on Assets	112.4	102.5	100.5	101.7	101.3
Total Equity	152.8	136.8	138.7	156.0	142.4

Total Liabilities & Shareholders' Equity	256.5	225.4	266.0	274.3	251.6

S/O-Common Stock	260.0	260.0	260.0	260.0	260.0
Total Common Shares Outstanding	260.0	260.0	260.0	260.0	260.0
T/S-Common Stock	0.0	0.0	0.0	0.0	-
Deferred Revenue, Current	0.6	0.8	38.9	15.9	5.9
Full-Time Employees	-	321	312	352	308
Number of Shareholders	15,116	15,152	12,975	12,884	13,414
Accumulated Benefit Obligation	4.2	3.7	4.3	4.7	4.9
Benefit Obligation	4.7	4.1	4.8	5.6	5.8
Fair Value of Plan Assets	1.0	0.4	0.7	0.6	0.4
Funded Status	-3.7	-3.8	-4.1	-5.0	-5.4
Total Funded Status	-3.7	-3.8	-4.1	-5.0	-5.4
Discount Rate	2.25%	2.25%	2.50%	3.50%	3.50%
Rate of Compensation Increase	1.00%	1.00%	1.00%	2.00%	2.00%
Expected Rate of Return on Plan Assets	2.00%	2.00%	2.50%	2.50%	2.50%
Deferred Pension Cost	0.5	0.7	1.1	1.6	2.0
Accrued Pension Liabilities	-3.2	-3.3	-3.6	-4.1	-4.5
Net Assets Recognized on Balance Sheet	-2.8	-2.6	-2.5	-2.5	-2.5

Annual Cash Flows

Financials in: USD (mil)

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007	Updated Normal 31-Dec-2006
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	31.497037	33.023867	31.543497	32.848802	32.525305
Auditor	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified

Net Income	-5.6	-7.6	-3.9	8.2	-1.0
Depreciation	2.0	2.1	2.3	3.1	3.7
Amortization of Intangibles	1.0	-	-	-	-
Gain on Sale of Investments	0.0	0.0	0.0	-1.1	-0.1
Net Gain/Loss on Disposal of Properties	0.0	-	-	-	0.0
Inventory Devaluation	0.3	-1.7	1.3	-1.2	0.0
Investment Loss	0.3	0.0	1.3	0.8	-
Gain/Loss on Financial Assets Valuation	0.0	-	-	-	-
Provision/Reversal of Bad Debts	-	-	-	0.0	0.0
Deferred Charges	-	1.1	0.6	0.4	0.3
Net Gain on Disp.of Prop & Idle Assets	-	0.0	0.0	-0.4	-
Other Expenses	-	-	-	0.0	0.1
Impairment Loss	-	-	0.0	4.3	-
Notes Receivable	0.0	0.0	-0.2	0.4	0.6
Accounts Receivable	0.2	-1.1	0.6	0.4	0.0
Other Financial Assets	-0.1	-0.1	0.2	0.0	0.3
Inventories	-1.3	4.5	-1.8	0.2	0.0
PPE for Sale/Construction In Process	0.0	48.4	-9.6	-23.5	-14.3
Deferred Selling Expense	0.0	0.0	0.2	-0.1	-0.1
Prepayment	0.2	-	-	-	-
Prepayment and Other Current Assets	-	-0.4	0.7	-0.4	-0.2
Other Current Assets	0.0	-	-	-	-
Notes Payable	-0.6	0.6	-0.5	0.4	-0.9
Accounts Payable	1.6	2.1	-2.0	2.1	-0.4
Tax Payable	-	0.0	0.0	0.0	0.0
Accrued Expenses	-4.0	3.3	-0.7	-2.7	0.9
Employee Bonus Payable	-	-	0.2	0.0	-
Advanced Receipts-Real Estate	0.0	-31.1	20.3	7.9	4.0
Advanced Receipts-Real Estate,Related	0.0	-7.5	3.9	1.9	1.9
Advance Receipts	-0.3	-	-	-	-
Other Current Liabilities	0.0	0.6	-0.1	0.1	-0.3
Def. Pension Cost/Accrued Pension Liab.	-0.1	0.0	0.0	0.0	0.2
Cash From Operating Activities	-6.2	13.5	12.8	0.7	-5.3

Financial Assets-Fair Value	-11.8	-	-	-	-
Disposal of Financial Assets-Fair Value	8.4	-	-	-	-
Purchase of Fncl. Assets-for Sale	-13.2	-21.3	-24.6	-12.5	-4.9
Sale of Fncl. Assets-for Sale	14.2	20.5	24.8	15.1	6.6
Capital Expenditure	-2.3	-2.0	-2.8	-2.5	-1.8
Disposal of Fixed Assets	0.0	0.0	0.0	0.5	0.0
Computer Software Cost	0.0	-	-	-	-
Security Deposit Paid	0.0	0.0	0.0	0.0	0.0
Deferred Charges	-0.6	-0.8	-0.9	-0.8	-0.4
Cash From Investing Activities	-5.3	-3.6	-3.5	-0.2	-0.5

Short Term Borrowings, Net	11.5	-12.1	-9.7	-0.1	9.2
Short Term Notes, Net	-1.7	4.2	0.0	-0.6	-5.5
Security Deposit Received	0.0	0.0	0.0	-0.1	-0.1
Cash From Financing Activities	9.8	-7.9	-9.7	-0.8	3.6

Net Change in Cash	-1.8	2.0	-0.4	-0.3	-2.2

Net Cash - Beginning Balance	3.2	1.1	1.6	1.7	3.9
Net Cash - Ending Balance	1.4	3.0	1.1	1.5	1.8
Cash Interest Paid	0.2	0.3	1.3	0.8	0.6
Cash Taxes Paid	0.0	0.0	0.0	0.0	0.0

Financial Health

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

Key IndicatorsÂ USD (mil)
Â	Quarter Ending 31-Mar-2011	Quarter Ending Yr Ago	Annual Year End 31-Dec-2010	1 Year Growth	3 Year Growth	5 Year Growth
Total Revenue1	18.0	8.24%	69.7	25.41%	-8.09%	9.13%
Research & Development1	0.1	64.29%	0.3	-0.68%	-3.30%	-2.81%
Operating Income1	-1.0	-	-5.5	-	-	-
Income Available to Common Excl Extraord Items1	-0.9	-	-5.6	-	-	-
Basic EPS Excl Extraord Items1	0.00	-	-0.02	-	-	-
Capital Expenditures2	0.5	58.60%	2.3	6.99%	-3.90%	-6.72%
Cash from Operating Activities2	-0.9	-	-6.2	-	-	-
Free Cash Flow	-1.4	-	-9.2	-	-	-
Total Assets3	247.6	-0.07%	256.5	3.72%	-5.62%	-1.03%
Total Liabilities3	101.9	2.27%	103.7	6.70%	-7.65%	-1.71%
Total Long Term Debt3	0.0	-	0.0	-	-	-
Total Common Shares Outstanding3	260.0	0.00%	260.0	0.00%	0.00%	0.00%
1-ExchangeRate: TWD to USD Average for Period	29.305764	Â	31.497037	Â	Â	Â
2-ExchangeRate: TWD to USD Average for Period	29.305764	Â	31.497037	Â	Â	Â
3-ExchangeRate: TWD to USD Period End Date	29.406500	Â	29.156500	Â	Â	Â

Utility Industry SpecificÂ USD (mil)
Â	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
Deferred Charges3	0.6	0.9	1.2	0.9	0.6
3-ExchangeRate: TWD to USD Period End Date	29.156500	31.985000	32.818000	32.434500	32.585000

Key Ratios
Â	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
Profitability
Gross Margin	4.95%	5.38%	8.37%	23.99%	8.92%
Operating Margin	-7.96%	-14.79%	-5.42%	7.73%	-4.49%
Pretax Margin	-8.02%	-14.32%	-5.36%	9.50%	-1.79%
Net Profit Margin	-8.02%	-14.32%	-5.36%	9.50%	-1.79%
Financial Strength
Current Ratio	1.06	0.99	1.07	1.33	1.07
Long Term Debt/Equity	0.00	0.00	0.00	0.00	0.00
Total Debt/Equity	0.23	0.17	0.21	0.26	0.28
Management Effectiveness
Return on Assets	-2.40%	-3.14%	-1.39%	3.14%	-0.41%
Return on Equity	-3.98%	-5.61%	-2.55%	5.54%	-0.72%
Efficiency
Receivables Turnover	27.58	27.35	42.96	38.42	19.06
Inventory Turnover	5.81	1.37	1.09	1.59	2.58
Asset Turnover	0.30	0.22	0.26	0.33	0.23

Market ValuationÂ USD (mil)
Enterprise Value2	489.9	.	Price/Sales (TTM)	6.32
Enterprise Value/Revenue (TTM)	6.45	.	Price/Book (MRQ)	3.30
Market Cap as of 02-Sep-20111	486.7	.
1-ExchangeRate: TWD to USD on 2-Sep-2011	29.012500
2-ExchangeRate: TWD to USD on 31-Mar-2011	29.406500

Annual Ratios

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
Financial Strength
Current Ratio	1.06	0.99	1.07	1.33	1.07
Quick/Acid Test Ratio	0.77	0.67	0.22	0.48	0.53
Working Capital1	2.6	-0.3	5.2	21.4	3.9
Long Term Debt/Equity	0.00	0.00	0.00	0.00	0.00
Total Debt/Equity	0.23	0.17	0.21	0.26	0.28
Long Term Debt/Total Capital	0.00	0.00	0.00	0.00	0.00
Total Debt/Total Capital	0.19	0.14	0.18	0.20	0.22
Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%
Effective Tax Rate	-	-	-	0.00%	-
Total Capital1	188.1	159.9	168.5	196.0	182.6

Efficiency
Asset Turnover	0.30	0.22	0.26	0.33	0.23
Inventory Turnover	5.81	1.37	1.09	1.59	2.58
Days In Inventory	62.80	266.22	333.56	229.41	141.26
Receivables Turnover	27.58	27.35	42.96	38.42	19.06
Days Receivables Outstanding	13.24	13.34	8.50	9.50	19.15
Revenue/Employee2	-	170,403	223,000	247,489	183,891
Operating Income/Employee2	-	-25,198	-12,076	19,134	-8,266
EBITDA/Employee2	-	-14,726	-2,918	29,371	4,754

Profitability
Gross Margin	4.95%	5.38%	8.37%	23.99%	8.92%
Operating Margin	-7.96%	-14.79%	-5.42%	7.73%	-4.49%
EBITDA Margin	-3.64%	-8.64%	-1.31%	11.87%	2.59%
EBIT Margin	-7.96%	-14.79%	-5.42%	7.73%	-4.49%
Pretax Margin	-8.02%	-14.32%	-5.36%	9.50%	-1.79%
Net Profit Margin	-8.02%	-14.32%	-5.36%	9.50%	-1.79%
R&D Expense/Revenue	0.46%	0.58%	0.50%	0.39%	0.58%
COGS/Revenue	95.05%	94.62%	91.63%	76.01%	91.09%
SG&A Expense/Revenue	12.45%	19.59%	13.29%	10.92%	12.83%

Management Effectiveness
Return on Assets	-2.40%	-3.14%	-1.39%	3.14%	-0.41%
Return on Equity	-3.98%	-5.61%	-2.55%	5.54%	-0.72%

Valuation
Free Cash Flow/Share2	-0.04	0.05	0.04	-0.01	-0.03
Operating Cash Flow/Share 2	-0.03	0.05	0.05	0.00	-0.02
1-ExchangeRate: TWD to USD Period End Date	29.1565	31.985	32.818	32.4345	32.585
2-ExchangeRate: TWD to USD Average for Period	29.1565	31.985	32.818	32.4345	32.585

Current Market Multiples
Market Cap/Earnings (TTM)	-92.73
Market Cap/Equity (MRQ)	3.30
Market Cap/Revenue (TTM)	6.32
Market Cap/EBIT (TTM)	-87.65
Market Cap/EBITDA (TTM)	-200.55
Enterprise Value/Earnings (TTM)	-94.61
Enterprise Value/Equity (MRQ)	3.36
Enterprise Value/Revenue (TTM)	6.45
Enterprise Value/EBIT (TTM)	-89.43
Enterprise Value/EBITDA (TTM)	-204.61

Annual Income Statement

Standardized

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007	Updated Normal 31-Dec-2006
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	31.497037	33.023867	31.543497	32.848802	32.525305
Auditor	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified

Net Sales	0.4	0.8	7.6	32.0	15.5
Gross Revenue	69.3	52.2	65.0	54.1	41.4
Sales Returns and Allowances	0.0	0.0	-0.2	0.0	-0.2
Revenue	69.7	53.0	72.4	86.0	56.7
Total Revenue	69.7	53.0	72.4	86.0	56.7

Cost of Revenue	66.2	50.1	66.3	65.4	51.7
Cost of Revenue, Total	66.2	50.1	66.3	65.4	51.7
Gross Profit	3.4	2.8	6.1	20.6	5.1

Selling/General/Administrative Expense	8.7	10.4	9.6	9.4	7.3
Total Selling/General/Administrative Expenses	8.7	10.4	9.6	9.4	7.3
Research & Development	0.3	0.3	0.4	0.3	0.3
Impairment-Assets Held for Use	-	-	0.0	4.3	-
Unusual Expense (Income)	-	-	0.0	4.3	-
Total Operating Expense	75.2	60.8	76.3	79.4	59.3

Operating Income	-5.5	-7.8	-3.9	6.7	-2.6

Interest Expense - Non-Operating	-0.2	-0.2	-1.3	-0.9	-0.6
Interest Expense, Net Non-Operating	-0.2	-0.2	-1.3	-0.9	-0.6
Interest Income - Non-Operating	-	-	-	-	1.5
Investment Income - Non-Operating	-0.5	-0.1	0.9	1.2	0.1
Interest/Investment Income - Non-Operating	-0.5	-0.1	0.9	1.2	1.7
Interest Income (Expense) - Net Non-Operating Total	-0.7	-0.3	-0.5	0.4	1.1
Gain (Loss) on Sale of Assets	0.0	0.0	0.0	0.4	0.0
Other Non-Operating Income (Expense)	0.7	0.6	0.5	0.7	0.4
Other, Net	0.7	0.6	0.5	0.7	0.4
Income Before Tax	-5.6	-7.6	-3.9	8.2	-1.0

Total Income Tax	0.0	0.0	0.0	0.0	0.0
Income After Tax	-5.6	-7.6	-3.9	8.2	-1.0

Net Income Before Extraord Items	-5.6	-7.6	-3.9	8.2	-1.0
Net Income	-5.6	-7.6	-3.9	8.2	-1.0

Income Available to Common Excl Extraord Items	-5.6	-7.6	-3.9	8.2	-1.0

Income Available to Common Incl Extraord Items	-5.6	-7.6	-3.9	8.2	-1.0

Basic/Primary Weighted Average Shares	260.0	260.0	260.0	260.0	260.0
Basic EPS Excl Extraord Items	-0.02	-0.03	-0.01	0.03	0.00
Basic/Primary EPS Incl Extraord Items	-0.02	-0.03	-0.01	0.03	0.00
Dilution Adjustment	0.0	0.0	0.0	-	0.0
Diluted Net Income	-5.6	-7.6	-3.9	8.2	-1.0
Diluted Weighted Average Shares	260.0	260.0	260.0	260.0	260.0
Diluted EPS Excl Extraord Items	-0.02	-0.03	-0.01	0.03	0.00
Diluted EPS Incl Extraord Items	-0.02	-0.03	-0.01	0.03	0.00
Dividends per Share - Common Stock Primary Issue	0.00	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	0.0	0.0	0.0	0.0	0.0
Interest Expense, Supplemental	0.2	0.2	1.3	0.9	0.6
Interest Capitalized, Supplemental	-	-	-	-	0.0
Depreciation, Supplemental	2.0	2.1	2.3	3.1	3.7
Total Special Items	0.0	0.0	0.0	3.8	0.0
Normalized Income Before Tax	-5.6	-7.6	-3.9	12.0	-1.0

Effect of Special Items on Income Taxes	0.0	0.0	0.0	0.0	0.0
Inc Tax Ex Impact of Sp Items	0.0	0.0	0.0	0.0	0.0
Normalized Income After Tax	-5.6	-7.6	-3.9	12.0	-1.0

Normalized Inc. Avail to Com.	-5.6	-7.6	-3.9	12.0	-1.0

Basic Normalized EPS	-0.02	-0.03	-0.01	0.05	0.00
Diluted Normalized EPS	-0.02	-0.03	-0.01	0.05	0.00
Amort of Intangibles, Supplemental	1.0	1.1	0.6	0.4	0.3
Research & Development Exp, Supplemental	0.3	0.3	0.4	0.3	0.3
Normalized EBIT	-5.5	-7.8	-3.9	10.9	-2.6
Normalized EBITDA	-2.5	-4.6	-0.9	14.5	1.5
Current Tax - Total	-	0.0	0.0	0.0	-
Current Tax - Total	-	0.0	0.0	0.0	-
Other Tax	-	0.0	0.0	0.0	-
Income Tax - Total	-	0.0	0.0	0.0	-
Interest Cost - Domestic	0.1	0.1	0.2	0.2	0.2
Service Cost - Domestic	0.1	0.2	0.2	0.2	0.2
Prior Service Cost - Domestic	0.1	0.1	0.1	0.1	0.1
Expected Return on Assets - Domestic	0.0	0.0	0.0	0.0	0.0
Actuarial Gains and Losses - Domestic	-	0.0	0.0	0.0	0.1
Curtailments & Settlements - Domestic	-	-	0.0	0.0	-0.1
Transition Costs - Domestic	0.3	0.3	0.3	0.3	0.3
Domestic Pension Plan Expense	0.6	0.6	0.8	0.8	0.9
Defined Contribution Expense - Domestic	0.2	0.1	0.2	-	-
Total Pension Expense	0.8	0.8	0.9	0.8	0.9
Discount Rate - Domestic	2.25%	2.25%	2.50%	3.50%	3.50%
Expected Rate of Return - Domestic	2.00%	2.00%	2.50%	2.50%	2.50%
Compensation Rate - Domestic	1.00%	1.00%	1.00%	2.00%	2.00%
Total Plan Interest Cost	0.1	0.1	0.2	0.2	0.2
Total Plan Service Cost	0.1	0.2	0.2	0.2	0.2
Total Plan Expected Return	0.0	0.0	0.0	0.0	0.0

Interim Income Statement

Standardized

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Mar-2011	31-Dec-2010	30-Sep-2010	30-Jun-2010	31-Mar-2010
Period Length	3 Months	3 Months	3 Months	3 Months	3 Months
UpdateType/Date	Updated Normal 31-Mar-2011	Updated Normal 31-Dec-2010	Updated Normal 30-Sep-2010	Updated Normal 30-Jun-2010	Updated Normal 31-Mar-2010
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	29.305764	30.350199	31.911435	31.824532	31.921093

Net Sales	0.1	0.1	0.2	0.1	0.1
Gross Revenue	17.9	20.2	17.6	16.3	15.2
Sales Returns and Allowances	-	0.0	0.0	0.0	-
Revenue	18.0	20.3	17.8	16.4	15.3
Total Revenue	18.0	20.3	17.8	16.4	15.3

Cost of Revenue	16.6	20.8	16.2	15.0	14.4
Cost of Revenue, Total	16.6	20.8	16.2	15.0	14.4
Gross Profit	1.4	-0.4	1.6	1.4	0.9

Selling/General/Administrative Expense	2.2	2.2	2.1	2.2	2.2
Total Selling/General/Administrative Expenses	2.2	2.2	2.1	2.2	2.2
Research & Development	0.1	0.1	0.1	0.1	0.1
Total Operating Expense	19.0	23.1	18.4	17.3	16.6

Operating Income	-1.0	-2.8	-0.6	-0.9	-1.3

Interest Expense - Non-Operating	-0.1	-0.1	-0.1	-0.1	0.0
Interest Expense, Net Non-Operating	-0.1	-0.1	-0.1	-0.1	0.0
Investment Income - Non-Operating	0.0	-0.1	0.0	0.0	-0.3
Interest/Investment Income - Non-Operating	0.0	-0.1	0.0	0.0	-0.3
Interest Income (Expense) - Net Non-Operating Total	0.0	-0.2	-0.1	-0.1	-0.4
Gain (Loss) on Sale of Assets	0.0	0.0	0.0	0.0	0.0
Other Non-Operating Income (Expense)	0.2	0.1	0.2	0.2	0.2
Other, Net	0.2	0.1	0.2	0.2	0.2
Income Before Tax	-0.9	-2.8	-0.5	-0.8	-1.5

Total Income Tax	0.0	0.0	0.0	0.0	0.0
Income After Tax	-0.9	-2.8	-0.5	-0.8	-1.5

Net Income Before Extraord Items	-0.9	-2.8	-0.5	-0.8	-1.5
Net Income	-0.9	-2.8	-0.5	-0.8	-1.5

Income Available to Common Excl Extraord Items	-0.9	-2.8	-0.5	-0.8	-1.5

Income Available to Common Incl Extraord Items	-0.9	-2.8	-0.5	-0.8	-1.5

Basic/Primary Weighted Average Shares	260.0	260.0	260.0	260.0	260.0
Basic EPS Excl Extraord Items	0.00	-0.01	0.00	0.00	-0.01
Basic/Primary EPS Incl Extraord Items	0.00	-0.01	0.00	0.00	-0.01
Dilution Adjustment	0.0	0.0	0.0	0.0	0.0
Diluted Net Income	-0.9	-2.8	-0.5	-0.8	-1.5
Diluted Weighted Average Shares	260.0	260.0	260.0	260.0	260.0
Diluted EPS Excl Extraord Items	0.00	-0.01	0.00	0.00	-0.01
Diluted EPS Incl Extraord Items	0.00	-0.01	0.00	0.00	-0.01
Dividends per Share - Common Stock Primary Issue	0.00	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	0.0	0.0	0.0	0.0	0.0
Interest Expense, Supplemental	0.1	0.1	0.1	0.1	0.0
Depreciation, Supplemental	0.5	0.5	0.5	0.5	0.6
Total Special Items	0.0	0.0	0.0	0.0	0.0
Normalized Income Before Tax	-0.9	-2.8	-0.5	-0.8	-1.5

Effect of Special Items on Income Taxes	0.0	0.0	0.0	0.0	0.0
Inc Tax Ex Impact of Sp Items	0.0	0.0	0.0	0.0	0.0
Normalized Income After Tax	-0.9	-2.8	-0.5	-0.8	-1.5

Normalized Inc. Avail to Com.	-0.9	-2.8	-0.5	-0.8	-1.5

Basic Normalized EPS	0.00	-0.01	0.00	0.00	-0.01
Diluted Normalized EPS	0.00	-0.01	0.00	0.00	-0.01
Amort of Intangibles, Supplemental	0.2	0.3	0.3	0.2	0.2
Research & Development Exp, Supplemental	0.1	0.1	0.1	0.1	0.1
Normalized EBIT	-1.0	-2.8	-0.6	-0.9	-1.3
Normalized EBITDA	-0.3	-2.0	0.2	-0.2	-0.5
Defined Contribution Expense - Domestic	0.0	0.0	0.0	0.0	0.0
Total Pension Expense	0.0	0.0	0.0	0.0	0.0

Annual Balance Sheet

Standardized

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
UpdateType/Date	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007	Updated Normal 31-Dec-2006
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate	29.1565	31.985	32.818	32.4345	32.585
Auditor	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified

Cash & Equivalents	1.5	3.1	1.1	1.5	1.8
Short Term Investments	30.8	18.0	13.8	27.4	24.8
Cash and Short Term Investments	32.3	21.1	14.9	28.9	26.5
Accounts Receivable - Trade, Gross	-	-	1.3	1.9	2.3
Provision for Doubtful Accounts	-	-	0.0	-0.1	-0.1
Trade Accounts Receivable - Net	2.4	2.4	1.3	1.9	2.3
Notes Receivable - Short Term	0.2	0.2	0.1	0.0	0.4
Total Receivables, Net	2.7	2.6	1.4	1.9	2.7
Inventories - Finished Goods	4.8	5.1	7.3	6.6	6.0
Inventories - Work In Progress	1.2	0.7	53.5	43.2	20.1
Inventories - Raw Materials	6.0	4.9	4.1	4.7	4.6
Inventories - Other	0.8	-0.1	-1.8	-0.5	-1.7
Total Inventory	12.8	10.7	63.1	54.0	29.1
Prepaid Expenses	0.1	0.3	0.1	0.7	0.3
Other Current Assets	0.2	0.2	0.1	0.2	0.1
Other Current Assets, Total	0.2	0.2	0.1	0.2	0.1
Total Current Assets	48.1	34.9	79.5	85.7	58.6

Buildings	20.5	20.4	19.7	19.8	20.7
Land/Improvements	2.7	2.5	2.4	2.4	2.2
Machinery/Equipment	98.1	89.3	88.5	88.2	94.7
Construction in Progress	4.1	3.4	2.3	2.0	2.1
Leases	1.4	1.3	1.3	1.3	1.3
Other Property/Plant/Equipment	185.1	169.2	164.9	166.9	166.1
Property/Plant/Equipment - Gross	311.9	286.1	279.1	280.6	287.1
Accumulated Depreciation	-111.1	-103.2	-100.8	-100.5	-98.5
Property/Plant/Equipment - Net	200.8	182.9	178.3	180.1	188.6
Intangibles, Net	0.0	-	-	-	-
LT Investment - Affiliate Companies	-	-	-	-	0.1
LT Investments - Other	0.1	0.1	0.1	0.1	-
Long Term Investments	0.1	0.1	0.1	0.1	0.1
Deferred Charges	0.6	0.9	1.2	0.9	0.6
Pension Benefits - Overfunded	0.5	0.7	1.1	1.6	2.0
Other Long Term Assets	6.5	5.9	5.8	5.8	1.6
Other Long Term Assets, Total	7.5	7.5	8.1	8.4	4.2
Total Assets	256.5	225.4	266.0	274.3	251.6

Accounts Payable	7.1	4.9	2.7	4.7	2.6
Accrued Expenses	2.4	6.2	2.5	3.2	5.9
Notes Payable/Short Term Debt	35.3	23.1	29.8	40.0	40.2
Customer Advances	0.6	0.8	38.9	15.9	5.9
Income Taxes Payable	-	-	0.0	0.0	-
Other Payables	-	-	0.2	0.0	-
Other Current Liabilities	0.1	0.3	0.3	0.6	0.3
Other Current liabilities, Total	0.7	1.0	39.3	16.4	6.1
Total Current Liabilities	45.5	35.2	74.3	64.3	54.8

Total Long Term Debt	0.0	0.0	0.0	0.0	0.0
Total Debt	35.3	23.1	29.8	40.0	40.2

Reserves	54.8	50.0	49.2	49.8	49.8
Pension Benefits - Underfunded	3.2	3.3	3.6	4.1	4.5
Other Long Term Liabilities	0.1	0.1	0.1	0.1	0.2
Other Liabilities, Total	58.2	53.4	53.0	54.0	54.5
Total Liabilities	103.7	88.6	127.3	118.3	109.2

Common Stock	89.2	81.3	79.2	80.2	79.8
Common Stock	89.2	81.3	79.2	80.2	79.8
Retained Earnings (Accumulated Deficit)	-55.8	-45.3	-36.6	-33.2	-41.3
Unrealized Gain (Loss)	119.4	100.9	96.0	109.0	103.9
Total Equity	152.8	136.8	138.7	156.0	142.4

Total Liabilities & Shareholdersâ€™ Equity	256.5	225.4	266.0	274.3	251.6

Shares Outstanding - Common Stock Primary Issue	260.0	260.0	260.0	260.0	260.0
Total Common Shares Outstanding	260.0	260.0	260.0	260.0	260.0
Treasury Shares - Common Stock Primary Issue	0.0	0.0	0.0	0.0	-
Employees	-	321	312	352	308
Number of Common Shareholders	15,116	15,152	12,975	12,884	13,414
Deferred Revenue - Current	0.6	0.8	38.9	15.9	5.9
Pension Obligation - Domestic	4.7	4.1	4.8	5.6	5.8
Plan Assets - Domestic	1.0	0.4	0.7	0.6	0.4
Funded Status - Domestic	-3.7	-3.8	-4.1	-5.0	-5.4
Accumulated Obligation - Domestic	4.2	3.7	4.3	4.7	4.9
Total Funded Status	-3.7	-3.8	-4.1	-5.0	-5.4
Discount Rate - Post-Retirement	2.25%	2.25%	2.50%	3.50%	3.50%
Expected Rate of Return - Domestic	2.00%	2.00%	2.50%	2.50%	2.50%
Compensation Rate - Domestic	1.00%	1.00%	1.00%	2.00%	2.00%
Prepaid Benefits - Domestic	0.5	0.7	1.1	1.6	2.0
Accrued Liabilities - Domestic	-3.2	-3.3	-3.6	-4.1	-4.5
Net Assets Recognized on Balance Sheet	-2.8	-2.6	-2.5	-2.5	-2.5
Total Plan Obligations	4.7	4.1	4.8	5.6	5.8
Total Plan Assets	1.0	0.4	0.7	0.6	0.4

Interim Balance Sheet

Standardized

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Mar-2011	31-Dec-2010	30-Sep-2010	30-Jun-2010	31-Mar-2010
UpdateType/Date	Updated Normal 31-Mar-2011	Updated Normal 31-Dec-2010	Updated Normal 30-Sep-2010	Updated Normal 30-Jun-2010	Updated Normal 31-Mar-2010
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate	29.4065	29.1565	31.2415	32.1315	31.758

Cash & Equivalents	2.1	1.5	1.6	1.2	2.5
Short Term Investments	21.9	30.8	22.0	20.8	19.0
Cash and Short Term Investments	24.0	32.3	23.6	22.0	21.5
Trade Accounts Receivable - Net	2.4	2.4	2.3	2.2	2.5
Notes Receivable - Short Term	0.2	0.2	0.4	0.3	0.3
Total Receivables, Net	2.6	2.7	2.7	2.5	2.8
Inventories - Finished Goods	5.5	4.8	6.7	6.4	6.5
Inventories - Work In Progress	1.3	1.2	1.4	0.9	0.8
Inventories - Raw Materials	6.8	6.0	5.2	5.5	6.1
Inventories - Other	0.4	0.8	-0.4	-0.3	-0.3
Total Inventory	14.0	12.8	12.9	12.5	13.1
Prepaid Expenses	0.3	0.1	0.1	0.4	0.6
Other Current Assets	0.2	0.2	0.2	0.3	0.0
Other Current Assets, Total	0.2	0.2	0.2	0.3	0.0
Total Current Assets	41.0	48.1	39.6	37.7	38.0

Buildings	20.3	20.5	21.0	20.3	20.6
Land/Improvements	2.7	2.7	2.5	2.5	2.5
Machinery/Equipment	97.6	98.1	91.3	88.7	90.0
Construction in Progress	4.1	4.1	3.9	3.5	3.6
Leases	1.4	1.4	1.3	1.3	1.3
Other Property/Plant/Equipment	183.5	185.1	173.2	168.4	170.4
Property/Plant/Equipment - Gross	309.6	311.9	293.3	284.6	288.3
Accumulated Depreciation	-110.6	-111.1	-105.7	-102.5	-104.4
Property/Plant/Equipment - Net	199.0	200.8	187.6	182.2	183.9
Intangibles, Net	0.0	0.0	-	-	-
LT Investments - Other	0.1	0.1	0.1	0.1	0.1
Long Term Investments	0.1	0.1	0.1	0.1	0.1
Deferred Charges	0.5	0.6	0.7	0.8	0.7
Pension Benefits - Overfunded	0.5	0.5	0.7	0.7	0.7
Other Long Term Assets	6.4	6.5	6.0	5.9	6.0
Other Long Term Assets, Total	7.4	7.5	7.5	7.4	7.3
Total Assets	247.6	256.5	234.8	227.4	229.4

Accounts Payable	6.8	7.1	6.2	4.4	5.8
Accrued Expenses	2.8	2.4	4.0	3.6	5.3
Notes Payable/Short Term Debt	33.8	35.3	27.6	28.9	26.7
Customer Advances	0.7	0.6	0.3	0.5	0.7
Other Current Liabilities	0.1	0.1	0.3	0.3	-
Other Current liabilities, Total	0.8	0.7	0.7	0.9	0.7
Total Current Liabilities	44.2	45.5	38.5	37.7	38.5

Total Long Term Debt	0.0	0.0	0.0	0.0	0.0
Total Debt	33.8	35.3	27.6	28.9	26.7

Reserves	54.3	54.8	51.1	49.7	50.3
Pension Benefits - Underfunded	3.2	3.2	3.4	3.3	3.3
Other Long Term Liabilities	0.2	0.1	0.1	0.1	0.1
Other Liabilities, Total	57.7	58.2	54.6	53.1	53.8
Total Liabilities	101.9	103.7	93.1	90.9	92.3

Common Stock	88.4	89.2	83.2	80.9	81.9
Common Stock	88.4	89.2	83.2	80.9	81.9
Retained Earnings (Accumulated Deficit)	-56.2	-55.8	-49.3	-47.5	-47.2
Unrealized Gain (Loss)	113.4	119.4	107.7	103.1	102.5
Total Equity	145.7	152.8	141.7	136.5	137.1

Total Liabilities & Shareholdersâ€™ Equity	247.6	256.5	234.8	227.4	229.4

Shares Outstanding - Common Stock Primary Issue	260.0	260.0	260.0	260.0	260.0
Total Common Shares Outstanding	260.0	260.0	260.0	260.0	260.0
Treasury Shares - Common Stock Primary Issue	0.0	0.0	0.0	0.0	0.0
Employees	-	-	-	329	-
Deferred Revenue - Current	0.7	0.6	0.3	0.5	0.7
Prepaid Benefits - Domestic	0.5	0.5	0.7	0.7	0.7
Accrued Liabilities - Domestic	-3.2	-3.2	-3.4	-3.3	-3.3
Net Assets Recognized on Balance Sheet	-2.7	-2.8	-2.6	-2.5	-2.6

Annual Cash Flows

Standardized

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007	Updated Normal 31-Dec-2006
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	31.497037	33.023867	31.543497	32.848802	32.525305
Auditor	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified

Net Income/Starting Line	-5.6	-7.6	-3.9	8.2	-1.0
Depreciation	2.0	2.1	2.3	3.1	3.7
Depreciation/Depletion	2.0	2.1	2.3	3.1	3.7
Amortization of Intangibles	1.0	-	-	-	-
Amortization	1.0	-	-	-	-
Unusual Items	0.4	0.0	1.3	3.5	-0.1
Other Non-Cash Items	0.3	-0.5	2.0	-0.8	0.4
Non-Cash Items	0.6	-0.5	3.2	2.8	0.3
Accounts Receivable	0.1	-1.1	0.4	0.8	0.6
Inventories	-1.3	52.9	-11.4	-23.3	-14.2
Prepaid Expenses	0.2	-0.4	0.7	-0.4	-0.2
Other Assets	-0.1	0.0	0.3	-0.1	0.2
Accounts Payable	1.6	2.1	-2.0	2.1	-0.4
Accrued Expenses	-4.0	3.3	-0.7	-2.7	0.9
Taxes Payable	-	0.0	0.0	0.0	0.0
Other Liabilities	-0.9	-37.4	23.8	10.4	4.8
Changes in Working Capital	-4.3	19.5	11.1	-13.3	-8.3
Cash from Operating Activities	-6.2	13.5	12.8	0.7	-5.3

Purchase of Fixed Assets	-2.3	-2.0	-2.8	-2.5	-1.8
Purchase/Acquisition of Intangibles	0.0	-	-	-	-
Capital Expenditures	-2.3	-2.0	-2.8	-2.5	-1.8
Sale of Fixed Assets	0.0	0.0	0.0	0.5	0.0
Sale/Maturity of Investment	22.6	20.5	24.8	15.1	6.6
Purchase of Investments	-25.1	-21.3	-24.6	-12.5	-4.9
Other Investing Cash Flow	-0.6	-0.8	-0.9	-0.8	-0.4
Other Investing Cash Flow Items, Total	-3.1	-1.6	-0.7	2.3	1.3
Cash from Investing Activities	-5.3	-3.6	-3.5	-0.2	-0.5

Other Financing Cash Flow	0.0	0.0	0.0	-0.1	-0.1
Financing Cash Flow Items	0.0	0.0	0.0	-0.1	-0.1
Short Term Debt, Net	9.8	-7.9	-9.7	-0.7	3.6
Issuance (Retirement) of Debt, Net	9.8	-7.9	-9.7	-0.7	3.6
Cash from Financing Activities	9.8	-7.9	-9.7	-0.8	3.6

Net Change in Cash	-1.8	2.0	-0.4	-0.3	-2.2

Net Cash - Beginning Balance	3.2	1.1	1.6	1.7	3.9
Net Cash - Ending Balance	1.4	3.0	1.1	1.5	1.8
Cash Interest Paid	0.2	0.3	1.3	0.8	0.6
Cash Taxes Paid	0.0	0.0	0.0	0.0	0.0

Interim Cash Flows

Standardized

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Mar-2011	31-Dec-2010	30-Sep-2010	30-Jun-2010	31-Mar-2010
Period Length	3 Months	12 Months	9 Months	6 Months	3 Months
UpdateType/Date	Updated Normal 31-Mar-2011	Updated Normal 31-Dec-2010	Updated Normal 30-Sep-2010	Updated Normal 30-Jun-2010	Reclassified Normal 31-Mar-2011
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	29.305764	31.497037	31.886422	31.875049	31.921093

Net Income/Starting Line	-0.9	-5.6	-2.8	-2.3	-1.5
Depreciation	0.5	2.0	1.5	1.0	0.6
Depreciation/Depletion	0.5	2.0	1.5	1.0	0.6
Amortization of Intangibles	0.2	1.0	-	-	0.2
Amortization	0.2	1.0	-	-	0.2
Unusual Items	0.0	0.4	0.4	0.4	0.3
Other Non-Cash Items	-0.2	0.3	1.0	0.7	0.2
Non-Cash Items	-0.2	0.6	1.4	1.0	0.6
Accounts Receivable	0.1	0.1	-0.1	0.0	-0.2
Inventories	-1.0	-1.3	-2.1	-2.0	-2.5
Prepaid Expenses	-0.2	0.2	0.2	0.0	-0.1
Other Assets	-0.1	-0.1	-0.5	-0.5	-0.2
Accounts Payable	-0.2	1.6	1.2	-0.5	0.8
Accrued Expenses	0.4	-4.0	-2.2	-2.6	-1.0
Other Liabilities	0.5	-0.9	-0.9	-1.0	-0.3
Changes in Working Capital	-0.5	-4.3	-4.6	-6.6	-3.5
Cash from Operating Activities	-0.9	-6.2	-4.5	-6.9	-3.7

Purchase of Fixed Assets	-0.5	-2.3	-1.8	-1.1	-0.3
Purchase/Acquisition of Intangibles	0.0	0.0	-	-	0.0
Capital Expenditures	-0.5	-2.3	-1.8	-1.1	-0.3
Sale of Fixed Assets	0.0	0.0	0.0	0.0	0.0
Sale/Maturity of Investment	11.4	22.6	17.4	8.9	1.9
Purchase of Investments	-7.7	-25.1	-16.5	-9.1	-2.1
Other Investing Cash Flow	-0.2	-0.6	-0.6	-0.4	0.0
Other Investing Cash Flow Items, Total	3.6	-3.1	0.4	-0.6	-0.2
Cash from Investing Activities	3.1	-5.3	-1.3	-1.6	-0.5

Other Financing Cash Flow	0.0	0.0	0.0	0.0	0.0
Financing Cash Flow Items	0.0	0.0	0.0	0.0	0.0
Short Term Debt, Net	-1.6	9.8	4.2	6.6	3.5
Issuance (Retirement) of Debt, Net	-1.6	9.8	4.2	6.6	3.5
Cash from Financing Activities	-1.5	9.8	4.2	6.6	3.5

Net Change in Cash	0.6	-1.8	-1.6	-1.9	-0.6

Net Cash - Beginning Balance	1.5	3.2	3.2	3.2	3.2
Net Cash - Ending Balance	2.1	1.4	1.5	1.2	2.5
Cash Interest Paid	0.1	0.2	0.1	0.1	0.0
Cash Taxes Paid	0.0	0.0	0.0	0.0	0.0

Annual Income Statement

As Reported

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007	Updated Normal 31-Dec-2006
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	31.497037	33.023867	31.543497	32.848802	32.525305
Auditor	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified

Gross Sales	69.3	52.2	65.0	54.1	41.4
Sales Returns	-	-	0.0	0.0	0.0
Sales Discounts and Allowances	0.0	0.0	0.0	0.0	-0.2
Construction Revenue	0.1	0.7	7.5	31.8	15.0
Construction Discounts and Allowances	-	-	-0.2	0.0	-
Rental Revenues	0.3	0.1	0.1	0.1	0.5
Total Revenue	69.7	53.0	72.4	86.0	56.7

Cost of Sales	65.9	49.8	62.1	55.4	46.1
Contruction Cost	0.1	0.2	2.8	11.1	5.3
Rental Costs	0.2	0.1	0.1	0.1	0.3
Selling Expenses	4.8	4.4	5.1	5.1	3.1
General and Administrative Expenses	3.9	6.0	4.5	4.3	4.2
Research and Development Expenses	0.3	0.3	0.4	0.3	0.3
Inventory Devaluation & Obsolescence	-	-	1.3	-1.2	-
Impairment Loss	-	-	0.0	4.3	-
Total Operating Expense	75.2	60.8	76.3	79.4	59.3

Interest Income	-	-	-	-	1.5
Dividend Income	0.0	0.0	1.9	0.9	-
Gain on Sale of Fixed Assets&Idle Asset	0.0	0.0	0.0	0.4	0.0
Gain on Sale of Investments	0.0	0.0	0.0	1.1	0.1
Gain on Foreign Exchange	-	0.0	0.2	0.0	-
Rent Income	0.5	0.4	0.5	0.5	0.4
Miscellaneous Income	0.5	0.2	0.2	0.2	0.3
Interest Expense	-0.2	-0.2	-1.3	-0.9	-0.6
Investment Loss	-0.3	0.0	-1.3	-0.8	0.0
Loss on Disposal of Fixed Assets	0.0	0.0	-	-	-
Foreign Exchange Losses	-0.2	-0.1	-	-	-
Miscellaneous Disbursements	-0.3	0.0	-0.2	0.0	-0.3
Net Income Before Taxes	-5.6	-7.6	-3.9	8.2	-1.0

Provision for Income Taxes	0.0	0.0	0.0	0.0	0.0
Net Income After Taxes	-5.6	-7.6	-3.9	8.2	-1.0

Net Income Before Extra. Items	-5.6	-7.6	-3.9	8.2	-1.0
Net Income	-5.6	-7.6	-3.9	8.2	-1.0

Income Available to Com Excl ExtraOrd	-5.6	-7.6	-3.9	8.2	-1.0

Income Available to Com Incl ExtraOrd	-5.6	-7.6	-3.9	8.2	-1.0

Basic Weighted Average Shares	260.0	260.0	260.0	260.0	260.0
Basic EPS Excluding ExtraOrdinary Items	-0.02	-0.03	-0.01	0.03	0.00
Basic EPS Including ExtraOrdinary Items	-0.02	-0.03	-0.01	0.03	0.00
Dilution Adjustment	0.0	0.0	0.0	-	0.0
Diluted Net Income	-5.6	-7.6	-3.9	8.2	-1.0
Diluted Weighted Average Shares	260.0	260.0	260.0	260.0	260.0
Diluted EPS Excluding ExtraOrd Items	-0.02	-0.03	-0.01	0.03	0.00
Diluted EPS Including ExtraOrd Items	-0.02	-0.03	-0.01	0.03	0.00
DPS-Common Stock	0.00	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	0.0	0.0	0.0	0.0	0.0
Normalized Income Before Taxes	-5.6	-7.6	-3.9	12.0	-1.0

Inc Tax Ex Impact of Sp Items	0.0	0.0	0.0	0.0	0.0
Normalized Income After Taxes	-5.6	-7.6	-3.9	12.0	-1.0

Normalized Inc. Avail to Com.	-5.6	-7.6	-3.9	12.0	-1.0

Basic Normalized EPS	-0.02	-0.03	-0.01	0.05	0.00
Diluted Normalized EPS	-0.02	-0.03	-0.01	0.05	0.00
Interest Expense, Supplemental	0.2	0.2	1.3	0.9	0.6
Interest Capitalized	-	-	-	-	0.0
R&D Expense, Supplemental	0.3	0.3	0.4	0.3	0.3
Depreciation - Operating Cost	1.9	2.0	2.2	3.0	3.6
Depreciation - Operating Expense	0.1	0.1	0.1	0.1	0.1
Amortization - Operating Cost	1.0	1.1	0.6	0.4	0.3
Amortization - Operating Expense	0.0	0.0	0.0	0.0	0.0
Current Tax	-	0.0	0.0	0.0	-
Current Tax - Total	-	0.0	0.0	0.0	-
Other Income Tax	-	0.0	0.0	0.0	-
Income Tax - Total	-	0.0	0.0	0.0	-
Service Cost	0.1	0.2	0.2	0.2	0.2
Interest Cost	0.1	0.1	0.2	0.2	0.2
Expected Return on Plan Assets	0.0	0.0	0.0	0.0	0.0
Amort. of Unrecognized Transitional Cost	0.3	0.3	0.3	0.3	0.3
Amort. of Unrecognized Prior Svc Cost	0.1	0.1	0.1	0.1	0.1
Amort. of Actuarial Gain/Loss	-	0.0	0.0	0.0	0.1
Curtailment & Settlement Gain/Loss	-	-	0.0	0.0	-0.1
Domestic Pension Plan Expense	0.6	0.6	0.8	0.8	0.9
Defined Contribution Expense	0.2	0.1	0.2	-	-
Total Pension Expense	0.8	0.8	0.9	0.8	0.9
Discount Rate	2.25%	2.25%	2.50%	3.50%	3.50%
Rate of Compensation Increase	1.00%	1.00%	1.00%	2.00%	2.00%
Expected Rate of Return on Plan Assets	2.00%	2.00%	2.50%	2.50%	2.50%

Interim Income Statement

As Reported

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

	31-Mar-2011	31-Dec-2010	30-Sep-2010	30-Jun-2010	31-Mar-2010
Period Length	3 Months	3 Months	3 Months	3 Months	3 Months
UpdateType/Date	Updated Normal 31-Mar-2011	Updated Normal 31-Dec-2010	Updated Normal 30-Sep-2010	Updated Normal 30-Jun-2010	Updated Normal 31-Mar-2010
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	29.305764	30.350199	31.911435	31.824532	31.921093

Gross Sales	17.9	20.2	17.6	16.3	15.2
Sales Discounts and Allowances	-	0.0	0.0	0.0	-
Construction Revenue	-	0.0	0.1	-	-
Rental Revenue	0.1	0.1	0.1	0.1	0.1
Service Revenue	0.0	-	-	-	-
Total Revenue	18.0	20.3	17.8	16.4	15.3

Cost of Sales	16.6	20.7	16.1	15.0	14.3
Cost of Construction	-	0.0	0.1	-	-
Cost of Rental	0.1	0.1	0.0	0.0	0.0
Cost of Services	0.0	-	-	-	-
Selling Expense	1.2	1.4	1.2	1.2	1.1
General and Administrative Expenses	1.1	0.9	0.9	1.0	1.1
Research and Development Expenses	0.1	0.1	0.1	0.1	0.1
Total Operating Expense	19.0	23.1	18.4	17.3	16.6

Dividend Income	-	0.0	0.0	-	-
Gains on Disposal of Fixed Assets	0.0	0.0	0.0	0.0	0.0
Gains on Sale of Investments	0.0	0.0	0.0	0.0	0.0
Rent Income	0.1	0.1	0.1	0.1	0.1
Revaluation Gain on Financial Assets	0.0	-	-	-	-
Miscellaneous Income	0.0	0.0	0.0	0.3	0.1
Interest Expense	-0.1	-0.1	-0.1	-0.1	0.0
Foreign Exchange Gain/Loss	0.0	-0.1	0.0	0.0	0.0
Investment Loss	0.0	0.0	0.0	0.0	-0.3
Loss on Disposal of Fixed Assets	0.0	0.0	0.0	0.0	-
Miscellaneous Disbursements	0.0	0.0	0.0	-0.2	0.0
Net Income Before Taxes	-0.9	-2.8	-0.5	-0.8	-1.5

Provision for Income Taxes	0.0	0.0	0.0	0.0	0.0
Net Income After Taxes	-0.9	-2.8	-0.5	-0.8	-1.5

Net Income Before Extra. Items	-0.9	-2.8	-0.5	-0.8	-1.5
Net Income	-0.9	-2.8	-0.5	-0.8	-1.5

Income Available to Com Excl ExtraOrd	-0.9	-2.8	-0.5	-0.8	-1.5

Income Available to Com Incl ExtraOrd	-0.9	-2.8	-0.5	-0.8	-1.5

Basic Weighted Average Shares	260.0	260.0	260.0	260.0	260.0
Basic EPS Excluding ExtraOrdinary Items	0.00	-0.01	0.00	0.00	-0.01
Basic EPS Including ExtraOrdinary Items	0.00	-0.01	0.00	0.00	-0.01
Dilution Adjustment	0.0	0.0	0.0	0.0	0.0
Diluted Net Income	-0.9	-2.8	-0.5	-0.8	-1.5
Diluted Weighted Average Shares	260.0	260.0	260.0	260.0	260.0
Diluted EPS Excluding ExtraOrd Items	0.00	-0.01	0.00	0.00	-0.01
Diluted EPS Including ExtraOrd Items	0.00	-0.01	0.00	0.00	-0.01
DPS-Common Stock	0.00	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	0.0	0.0	0.0	0.0	0.0
Normalized Income Before Taxes	-0.9	-2.8	-0.5	-0.8	-1.5

Inc Tax Ex Impact of Sp Items	0.0	0.0	0.0	0.0	0.0
Normalized Income After Taxes	-0.9	-2.8	-0.5	-0.8	-1.5

Normalized Inc. Avail to Com.	-0.9	-2.8	-0.5	-0.8	-1.5

Basic Normalized EPS	0.00	-0.01	0.00	0.00	-0.01
Diluted Normalized EPS	0.00	-0.01	0.00	0.00	-0.01
Interest Expense, Supplemental	0.1	0.1	0.1	0.1	0.0
R&D Expense, Supplemental	0.1	0.1	0.1	0.1	0.1
Depreciation, Supplemental	0.5	0.5	0.5	0.5	0.6
Amort of Intangibles, Supplemental	0.2	0.3	0.3	0.2	0.2
Provision for Defined Contribution Plan	0.0	0.0	0.0	0.0	0.0
Total Pension Expense	0.0	0.0	0.0	0.0	0.0

Annual Balance Sheet

As Reported

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
UpdateType/Date	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007	Updated Normal 31-Dec-2006
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate	29.1565	31.985	32.818	32.4345	32.585
Auditor	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified

Cash and Cash Equivalent	1.5	3.1	1.1	1.5	1.8
Fncl. Assets-Fair Value	3.7	-	-	-	24.5
Financial Assets - Hold for Sale	26.8	17.8	13.6	27.1	-
Notes Receivable	0.2	0.2	0.1	0.0	0.4
Accounts Receivable, Gross	-	-	1.3	1.9	2.3
Provision for Doubtful Accounts	-	-	0.0	-0.1	-0.1
Accounts Receivable, Net	2.4	2.4	-	-	-
Other Fncl. Assets	0.3	0.2	0.1	0.3	0.3
Merchandise	0.0	0.0	0.0	0.0	0.1
Finished Goods	3.7	4.1	7.3	6.6	6.0
Work-in-Process	1.2	0.7	2.6	1.1	1.9
Raw Material / Supplies	6.0	4.9	4.1	4.7	4.2
Inventory in Transit	1.2	0.0	-	-	-
Materials in Transit	-	-	0.0	0.0	0.4
Provision/Allowance for Inventory	-0.4	-0.1	-1.8	-0.5	-1.7
Real Estate for Sale	1.1	1.1	-	-	-
Real Estate under Construction	0.0	0.0	50.9	42.1	18.3
Deferred Selling Expense	0.0	0.0	0.1	0.2	0.1
Prepayment	0.1	0.3	-	-	-
Prepayment & Other Current Assets	-	-	0.1	0.7	0.3
Other Current Assets	0.1	0.1	-	-	-
Total Current Assets	48.1	34.9	79.5	85.7	58.6

Long Term Equity Investment	-	-	-	-	0.1
Long Term Investment - Cost Method	0.1	0.1	0.1	0.1	-
Land and Improvements	2.7	2.5	2.4	2.4	2.2
Buildings and Structures	20.5	20.4	19.7	19.8	20.7
Machinery and Equipment	94.4	85.9	85.1	84.9	91.4
Transportation Equipment	2.0	1.9	1.9	1.9	1.8
Miscellaneous Equipment	1.7	1.6	1.5	1.4	1.5
Assets Revaluation Increment	185.1	169.2	164.9	166.9	166.1
Accumulated Depreciation	-106.2	-98.7	-96.5	-96.1	-98.4
Construct. in Progress & Equip. Prepay	4.1	3.4	2.3	2.0	2.1
Computer Software Cost	0.0	-	-	-	-
Deferred Pension Cost	0.5	0.7	1.1	1.6	2.0
Assets for Lease	1.4	1.3	1.3	1.3	1.3
Accumulated Depreciation-Asset for Lease	-0.2	-0.1	-0.1	-0.1	-0.1
Idle Assets	5.7	5.2	5.1	5.1	0.9
Provision for Impairment of Idle Assets	-4.8	-4.4	-4.3	-4.3	-
Security Deposits Paid	0.0	0.0	0.0	0.0	0.0
Deferred Charges	0.6	0.9	1.2	0.9	0.6
Other Long Term Assets	0.8	0.7	0.7	0.7	0.7
Total Assets	256.5	225.4	266.0	274.3	251.6

Short Term Borrowings	28.6	14.7	26.6	36.3	36.2
Short Term Notes & Bills Payable	6.3	7.5	3.0	3.1	3.7
Notes Payable	0.3	0.9	0.2	0.6	0.3
Accounts Payable	7.1	4.9	2.7	4.7	2.6
Income Taxes Payable	-	-	0.0	0.0	-
Accrued Expenses	2.4	6.2	2.5	3.2	5.9
Employee Bonus Payable	-	-	0.2	0.0	-
Advance Receipts	0.6	0.8	-	-	-
Advance Receipts on Real Estate	-	0.0	31.3	12.0	3.9
Advance Receipts on Real Estate, Related	-	0.0	7.6	3.9	1.9
Other Current Liabilities	0.1	0.3	0.3	0.6	0.3
Total Current Liabilities	45.5	35.2	74.3	64.3	54.8

Land Revaluation Increment Tax Reserve	54.8	50.0	49.2	49.8	49.8
Accrued Pension Liabilities	3.2	3.3	3.6	4.1	4.5
Long Term Security Deposits Received	0.1	0.1	0.1	0.1	0.2
Total Liabilities	103.7	88.6	127.3	118.3	109.2

Common Stock	89.2	81.3	79.2	80.2	79.8
Retained Earnings	-55.8	-45.3	-36.6	-33.2	-41.3
Unrealized G/L on Fin. Asset for Sale	7.0	-1.6	-4.4	7.3	2.5
Unrealized Revaluation Gain on Assets	112.4	102.5	100.5	101.7	101.3
Total Equity	152.8	136.8	138.7	156.0	142.4

Total Liabilities & Shareholders' Equity	256.5	225.4	266.0	274.3	251.6

S/O-Common Stock	260.0	260.0	260.0	260.0	260.0
Total Common Shares Outstanding	260.0	260.0	260.0	260.0	260.0
T/S-Common Stock	0.0	0.0	0.0	0.0	-
Deferred Revenue, Current	0.6	0.8	38.9	15.9	5.9
Full-Time Employees	-	321	312	352	308
Number of Shareholders	15,116	15,152	12,975	12,884	13,414
Accumulated Benefit Obligation	4.2	3.7	4.3	4.7	4.9
Benefit Obligation	4.7	4.1	4.8	5.6	5.8
Fair Value of Plan Assets	1.0	0.4	0.7	0.6	0.4
Funded Status	-3.7	-3.8	-4.1	-5.0	-5.4
Total Funded Status	-3.7	-3.8	-4.1	-5.0	-5.4
Discount Rate	2.25%	2.25%	2.50%	3.50%	3.50%
Rate of Compensation Increase	1.00%	1.00%	1.00%	2.00%	2.00%
Expected Rate of Return on Plan Assets	2.00%	2.00%	2.50%	2.50%	2.50%
Deferred Pension Cost	0.5	0.7	1.1	1.6	2.0
Accrued Pension Liabilities	-3.2	-3.3	-3.6	-4.1	-4.5
Net Assets Recognized on Balance Sheet	-2.8	-2.6	-2.5	-2.5	-2.5

Interim Balance Sheet

As Reported

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

	31-Mar-2011	31-Dec-2010	30-Sep-2010	30-Jun-2010	31-Mar-2010
UpdateType/Date	Updated Normal 31-Mar-2011	Updated Normal 31-Dec-2010	Updated Normal 30-Sep-2010	Updated Normal 30-Jun-2010	Updated Normal 31-Mar-2010
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate	29.4065	29.1565	31.2415	32.1315	31.758

Cash and Cash Equivalent	2.1	1.5	1.6	1.2	2.5
Financial Assets-Fair Value,Current	-	3.7	-	-	-
Financial Asset for Trading/Sale	21.6	26.8	21.3	20.1	18.6
Notes Receivable	0.2	0.2	0.4	0.3	0.3
Accounts Receivable, Net	2.4	2.4	2.3	2.2	2.5
Other Financial Assets - Current	0.4	0.3	0.7	0.7	0.4
Merchandise	0.0	0.0	0.0	0.0	0.0
Finished Goods	4.4	3.7	5.6	5.3	5.4
Work In Progress	1.3	1.2	1.4	0.9	0.8
Raw Material / Supplies	6.8	6.0	5.2	5.5	6.1
Inventory in Transit	0.5	1.2	-	-	0.0
Materials in Transit	-	-	0.0	0.0	-
Provision/Allowance for Inventory	-0.2	-0.4	-0.4	-0.3	-0.3
Real Estate for Sale	1.1	1.1	1.0	1.1	1.1
Real Estate under Construction	0.0	0.0	0.0	0.0	0.0
Deferred Selling Expense	0.0	0.0	0.0	0.0	0.0
Prepayment & Other Current Assets	-	-	-	0.4	0.6
Prepayments	0.3	0.1	0.1	-	-
Other Current Assets	0.1	0.1	0.2	0.3	-
Total Current Assets	41.0	48.1	39.6	37.7	38.0

LT Inv./Financial Assets - Cost Method	0.1	0.1	0.1	0.1	0.1
Land and Improvements	2.7	2.7	2.5	2.5	2.5
Buildings and Structures	20.3	20.5	21.0	20.3	20.6
Machinery and Equipment	94.0	94.4	87.8	85.2	86.5
Transportation Equipment	2.0	2.0	1.9	1.9	1.9
Miscellaneous Equipment	1.7	1.7	1.6	1.5	1.6
Assets Revaluation Increment	183.5	185.1	173.2	168.4	170.4
Accumulated Depreciation	-105.7	-106.2	-101.1	-98.0	-99.9
Construction in Progress & Prepay.For Eq	4.1	4.1	3.9	3.5	3.6
Computer Software Cost	0.0	0.0	-	-	-
Deferred Pension Cost	0.5	0.5	0.7	0.7	0.7
Leased Assets	1.4	1.4	1.3	1.3	1.3
Accumulated Depreciation-Asset for Lease	-0.2	-0.2	-0.1	-0.1	-0.1
Idle Assets	5.6	5.7	5.3	5.1	5.2
Provision for Impairment of Idle Assets	-4.8	-4.8	-4.5	-4.4	-4.4
Security Deposits Paid	0.0	0.0	0.0	0.0	0.0
Deferred Charges	0.5	0.6	0.7	0.8	0.7
Other Long Term Assets	0.8	0.8	0.7	0.7	0.7
Total Assets	247.6	256.5	234.8	227.4	229.4

Short Term Borrowings	27.8	28.6	15.2	20.3	16.5
Short Term Notes & Bills Payable	5.3	6.3	11.8	8.4	9.4
Notes Payable	0.7	0.3	0.5	0.3	0.8
Accounts Payable	6.8	7.1	6.2	4.4	5.8
Accrued Expenses	2.8	2.4	4.0	3.6	5.3
Advances for Real Estate	-	-	0.0	0.0	0.0
Advances for Real Estate - Related Party	-	-	0.0	0.0	-
Advance Receipts&Other Current Liab.	-	-	-	0.5	0.7
Advance Receipts	0.7	0.6	0.3	-	-
Other Current Liabilities	0.1	0.1	0.3	0.3	-
Total Current Liabilities	44.2	45.5	38.5	37.7	38.5

Land Revaluation Increment Tax Reserve	54.3	54.8	51.1	49.7	50.3
Accrued Pension Liabilities	3.2	3.2	3.4	3.3	3.3
Long Term Security Deposits Received	0.2	0.1	0.1	0.1	0.1
Total Liabilities	101.9	103.7	93.1	90.9	92.3

Common Stock	88.4	89.2	83.2	80.9	81.9
Retained Earnings	-56.2	-55.8	-49.3	-47.5	-47.2
Unrealized G/L on Fin. Assets for Sale	1.9	7.0	2.8	1.0	-0.7
Unrealized Revaluation Increment	111.5	112.4	104.9	102.0	103.2
Total Equity	145.7	152.8	141.7	136.5	137.1

Total Liabilities & Shareholders' Equity	247.6	256.5	234.8	227.4	229.4

S/O-Common Stock	260.0	260.0	260.0	260.0	260.0
Total Common Shares Outstanding	260.0	260.0	260.0	260.0	260.0
T/S-Common Stock	0.0	0.0	0.0	0.0	0.0
Deferred Revenue, Current	0.7	0.6	0.3	0.5	0.7
Full-Time Employees	-	-	-	329	-
Deferred Pension Cost	0.5	0.5	0.7	0.7	0.7
Accrued Pension Liabilities	-3.2	-3.2	-3.4	-3.3	-3.3
Net Assets Recognized on Balance Sheet	-2.7	-2.8	-2.6	-2.5	-2.6

Annual Cash Flows

As Reported

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007	Updated Normal 31-Dec-2006
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	31.497037	33.023867	31.543497	32.848802	32.525305
Auditor	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs	Earnest & Company CPAs
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified

Net Income	-5.6	-7.6	-3.9	8.2	-1.0
Depreciation	2.0	2.1	2.3	3.1	3.7
Amortization of Intangibles	1.0	-	-	-	-
Gain on Sale of Investments	0.0	0.0	0.0	-1.1	-0.1
Net Gain/Loss on Disposal of Properties	0.0	-	-	-	0.0
Inventory Devaluation	0.3	-1.7	1.3	-1.2	0.0
Investment Loss	0.3	0.0	1.3	0.8	-
Gain/Loss on Financial Assets Valuation	0.0	-	-	-	-
Provision/Reversal of Bad Debts	-	-	-	0.0	0.0
Deferred Charges	-	1.1	0.6	0.4	0.3
Net Gain on Disp.of Prop & Idle Assets	-	0.0	0.0	-0.4	-
Other Expenses	-	-	-	0.0	0.1
Impairment Loss	-	-	0.0	4.3	-
Notes Receivable	0.0	0.0	-0.2	0.4	0.6
Accounts Receivable	0.2	-1.1	0.6	0.4	0.0
Other Financial Assets	-0.1	-0.1	0.2	0.0	0.3
Inventories	-1.3	4.5	-1.8	0.2	0.0
PPE for Sale/Construction In Process	0.0	48.4	-9.6	-23.5	-14.3
Deferred Selling Expense	0.0	0.0	0.2	-0.1	-0.1
Prepayment	0.2	-	-	-	-
Prepayment and Other Current Assets	-	-0.4	0.7	-0.4	-0.2
Other Current Assets	0.0	-	-	-	-
Notes Payable	-0.6	0.6	-0.5	0.4	-0.9
Accounts Payable	1.6	2.1	-2.0	2.1	-0.4
Tax Payable	-	0.0	0.0	0.0	0.0
Accrued Expenses	-4.0	3.3	-0.7	-2.7	0.9
Employee Bonus Payable	-	-	0.2	0.0	-
Advanced Receipts-Real Estate	0.0	-31.1	20.3	7.9	4.0
Advanced Receipts-Real Estate,Related	0.0	-7.5	3.9	1.9	1.9
Advance Receipts	-0.3	-	-	-	-
Other Current Liabilities	0.0	0.6	-0.1	0.1	-0.3
Def. Pension Cost/Accrued Pension Liab.	-0.1	0.0	0.0	0.0	0.2
Cash From Operating Activities	-6.2	13.5	12.8	0.7	-5.3

Financial Assets-Fair Value	-11.8	-	-	-	-
Disposal of Financial Assets-Fair Value	8.4	-	-	-	-
Purchase of Fncl. Assets-for Sale	-13.2	-21.3	-24.6	-12.5	-4.9
Sale of Fncl. Assets-for Sale	14.2	20.5	24.8	15.1	6.6
Capital Expenditure	-2.3	-2.0	-2.8	-2.5	-1.8
Disposal of Fixed Assets	0.0	0.0	0.0	0.5	0.0
Computer Software Cost	0.0	-	-	-	-
Security Deposit Paid	0.0	0.0	0.0	0.0	0.0
Deferred Charges	-0.6	-0.8	-0.9	-0.8	-0.4
Cash From Investing Activities	-5.3	-3.6	-3.5	-0.2	-0.5

Short Term Borrowings, Net	11.5	-12.1	-9.7	-0.1	9.2
Short Term Notes, Net	-1.7	4.2	0.0	-0.6	-5.5
Security Deposit Received	0.0	0.0	0.0	-0.1	-0.1
Cash From Financing Activities	9.8	-7.9	-9.7	-0.8	3.6

Net Change in Cash	-1.8	2.0	-0.4	-0.3	-2.2

Net Cash - Beginning Balance	3.2	1.1	1.6	1.7	3.9
Net Cash - Ending Balance	1.4	3.0	1.1	1.5	1.8
Cash Interest Paid	0.2	0.3	1.3	0.8	0.6
Cash Taxes Paid	0.0	0.0	0.0	0.0	0.0

Interim Cash Flows

As Reported

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

	31-Mar-2011	31-Dec-2010	30-Sep-2010	30-Jun-2010	31-Mar-2010
Period Length	3 Months	12 Months	9 Months	6 Months	3 Months
UpdateType/Date	Updated Normal 31-Mar-2011	Updated Normal 31-Dec-2010	Updated Normal 30-Sep-2010	Updated Normal 30-Jun-2010	Reclassified Normal 31-Mar-2011
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	29.305764	31.497037	31.886422	31.875049	31.921093

Net Income	-0.9	-5.6	-2.8	-2.3	-1.5
Depreciation	0.5	2.0	1.5	1.0	0.6
Amortization of Intangibles	0.2	1.0	-	-	0.2
Gain/Loss on Sale of Investments	0.0	0.0	0.0	0.3	0.0
Gain/Loss on Disposal of Properties	0.0	0.0	0.0	0.0	0.0
Gain/Loss on Inventory Devaluation	-0.2	0.3	0.3	0.2	0.2
Loss on Investments	0.0	0.3	0.3	-	0.3
Gain/Loss on Financial Assets Valuation	0.0	0.0	-	-	0.0
Deferred Charges	-	-	0.7	0.5	-
Notes Receivable	0.0	0.0	-0.3	-0.2	-0.1
Accounts Receivable	0.0	0.2	0.2	0.2	-0.1
Other Financial Assets	-0.1	-0.1	-0.5	-0.5	-0.2
Inventories	-1.0	-1.3	-2.2	-2.0	-2.5
Real State for Sale	-	-	0.1	-	-
Buildings under Construction	-	-	0.0	-	-
PPE for Sale/Construction In Process	-	0.0	-	-	-
Deferred Selling Expense	-	0.0	0.0	-	-
Prepayment	-0.2	0.2	0.2	0.0	-0.1
Other Current Assets	0.0	0.0	-0.1	-0.1	0.0
Notes Payable	0.4	-0.6	-0.3	-0.6	-0.1
Accounts Payable	-0.2	1.6	1.2	-0.5	0.8
Accrued Expenses	0.4	-4.0	-2.2	-2.6	-1.0
Advance for Buidlings	-	0.0	0.0	-0.3	-
Advance for Buidlings - Related Parties	-	0.0	0.0	-	-
Advance Receipts	0.2	-0.3	-0.5	-	-0.1
Other Current Liabilities	0.0	0.0	0.0	0.0	0.0
Accrued Pension Cost/ Liabilities	0.0	-0.1	0.0	0.0	0.0
Cash From Operating Activities	-0.9	-6.2	-4.5	-6.9	-3.7

Financial Assets-Fair Value	-7.7	-11.8	-	-	0.0
Disposal of Financial Assets-Fair Value	11.4	8.4	-	-	0.0
Purchase of Fncl. Assets-For Sale	0.0	-13.2	-16.5	-9.1	-2.1
Sale of Fncl. Assets-For Sale	0.0	14.2	17.4	8.9	1.9
Capital Expenditure	-0.5	-2.3	-1.8	-1.1	-0.3
Disposal of Fixed Assets	0.0	0.0	0.0	0.0	0.0
Computer Software Cost	0.0	0.0	-	-	0.0
Security Deposit Paid	-	0.0	-	-	-
Deferred Charges	-0.2	-0.6	-0.6	-0.4	0.0
Cash From Investing Activities	3.1	-5.3	-1.3	-1.6	-0.5

Short Term Borrowings, Net	-0.5	11.5	0.2	5.6	1.7
Short Term Notes Increase	-1.0	-1.7	4.1	0.9	1.9
Security Deposit Received	0.0	0.0	0.0	0.0	0.0
Cash From Financing Activities	-1.5	9.8	4.2	6.6	3.5

Net Change in Cash	0.6	-1.8	-1.6	-1.9	-0.6

Net Cash - Beginning Balance	1.5	3.2	3.2	3.2	3.2
Net Cash - Ending Balance	2.1	1.4	1.5	1.2	2.5
Cash Interest Paid	0.1	0.2	0.1	0.1	0.0
Cash Taxes Paid	0.0	0.0	0.0	0.0	0.0

Bottom of Form

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.48.22
UK Pound	1	Rs.75.63
Euro	1	Rs.65.64

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%)

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