|
Report Date : |
13.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
CHI MEI CORPORATION |
|
|
|
|
Registered Office : |
No.59-1 San Chia, Jen Te ,Tainan City 71702 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
30.06.2012 |
|
|
|
|
Date of Incorporation : |
11.01.1960 |
|
|
|
|
Com. Reg. No.: |
68387705 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and sales chemicals, etc |
|
|
|
|
No. of Employees : |
About 2,000 Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
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 – June 30th,
2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
TAIWAN - ECONOMIC OVERVIEW
Taiwan has a dynamic capitalist economy with gradually decreasing government guidance of investment and foreign trade. In keeping with this trend, some large, state-owned banks and industrial firms have been privatized. Exports, led by electronics, machinery, and petrochemicals have provided the primary impetus for economic development. This heavy dependence on exports exposes the economy to fluctuations in world demand. In 2009, Taiwan's GDP contracted 1.9%, due primarily to a 20% year-on-year decline in exports. In 2010 GDP grew 10.9%, as exports returned to the level of previous years, and in 2011, grew 5.2%. However, 2012 growth will likely be less, according to most forecasters, because of softening global demand. Taiwan's diplomatic isolation, low birth rate, and rapidly aging population are major long-term challenges. Free trade agreements have proliferated in East Asia over the past several years, but so far Taiwan has been excluded from this greater economic integration largely because of its diplomatic status with the exception of the landmark Economic Cooperation Framework Agreement (ECFA) signed with China in June 2010. The MA administration has said that the ECFA will serve as a stepping stone toward trade pacts with other regional partners, and negotiations on a deal with Singapore began this year. Follow-on components of ECFA, including deals on trade in goods, services, and investment, have yet to be completed. Taiwan's Total Fertility rate of just over one child per woman is among the lowest in the world, raising the prospect of future labor shortages, falling domestic demand, and declining tax revenues. Taiwan's population is aging quickly, with the number of people over 65 accounting for 10.9% of the island's total population as of 2011. The island runs a large trade surplus, and its foreign reserves are the world's fourth largest, behind China, Japan, and Russia. Since 2005 China has overtaken the US to become Taiwan's second-largest source of imports after Japan. China is also the island's number one destination for foreign direct investment. Three financial memorandums of understanding, covering banking, securities, and insurance, took effect in mid-January 2010, opening the island to greater investments from the mainland's financial firms and institutional investors, and providing new opportunities for Taiwan financial firms to operate in China. Closer economic links with the mainland bring greater opportunities for the Taiwan economy, but also poses new challenges as the island becomes more economically dependent on China while political differences remain unresolved.
|
Source : CIA |
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
|
|
Supplied Address: |
|
|
Telephone Number: |
+886-6-266-3000 |
|
Fax Number: |
+886-6-266-5555 |
|
E-mail: |
|
|
Website: |
Notes: The exact address is as above.
|
Credit Opinion: |
|
Registered Name: |
Chi Mei Corporation |
|
Registered Address: |
No.59-1 San Chia, Jen Te ,Tainan City 71702, Taiwan, R.O.C. |
|
Date of Foundation: |
1960-1-11 |
|
Registration Number: |
68387705 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 19,600,000,000
(USD 654,640,000) (As of 2012.09, 1 NTD = 0.0334 USD) |
|
Paid-up Capital: |
NTD 17,076,760,260 (USD 570,363,792.68) |
|
Legal Representatives: |
Chunhua Xu |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock
Exchange: |
|
|
Date of Last
Annual Return: |
Subject was incorporated on 1960-1-11 with registered number 68387705 as Joint Stock Company in Taiwan.
Awards
|
Year |
Awards |
|
2008 |
Blue chip
importer and exporter |
|
2009 |
Blue chip importer
and exporter |
|
2010 |
Blue chip
importer and exporter |
Standard of Blue chip importer and exporter
Unit: USD
|
Year |
Amount |
|
2008 |
19,000,000 |
|
2009 |
15,000,000 |
|
2010 |
20,000,000 |
|
Name |
Subscription Shares |
|
Chunhua Xu |
1,588,277 |
|
Tai Qi Investment Corporation (Literal
Translation) |
267,890,743 |
|
Lingyu Zhao |
5,741,814 |
|
Rongjun Lin |
336,656 |
|
Guangfu Song |
1,651,063 |
|
Qingsheng Lin |
892,145 |
|
Mitsubishi Chemical Corporation |
145,189,272 |
|
Zhanyang He |
1,994,019 |
|
Yue Li Investment Corporation |
21,643,807 |
The information above is that of subject’s major shareholders.
Offices
|
1 |
|
|
Name: |
Taipei
Technology Service Center |
|
Address: |
8/F., No.9., Aiguo
West Road, Taipei City, Taiwan |
|
Tel: |
+886-2-23148841 |
|
Fax: |
+886-2-23618800 |
|
2 |
|
|
Name: |
Taichung
Technology Service Center |
|
Address: |
No. 27-5.,
Section 1, Xiangshang Road, West District, Taipei City, Taiwan. |
|
Tel: |
+886-4-23022255 |
|
Fax: |
+886-4-23016161 |
Related Companies
|
1 |
|
|
Name: |
Zhenjiang Chi
Mei Co., Ltd (Literal Translated) |
|
Address: |
No.2., Hanqiao
Road, Dagang Development Area, Zhenjiang City, Jiangsu Province, China |
|
Tel: |
+86-511-83121300 |
|
Fax: |
+86-511-83121033 |
|
2 |
|
|
Name: |
Chi Mei Innolux
Corporation |
|
Address: |
No.160 Science
Road, Hsinchu Science and Industry Park, Zhunan Township, Miaoli County,
Taiwan |
|
Tel: |
+886-3-758-6000 |
|
Listed at Stock
Exchange: |
Yes; Stock Symbol: 3481 |
|
3 |
|
|
Name: |
Chi Lin
Technology Co., Ltd. |
|
Address: |
No., 18, Shengli
1st St., Rende Dist., Tainan City, 71758, Taiwan (R.O.C.) |
|
Tel: |
+886-6-279-1188 |
|
Fax: |
+886-6-279-1685 |
|
4 |
|
|
Name: |
Chimei Materials
Technology Corp. |
|
Address: |
No.13, Muzhagang
W. Rd., Shanhua Dist., Tainan City 741, Taiwan (R.O.C.) |
|
Tel: |
+886-6-588-9988 |
|
Listed at Stock
Exchange: |
Yes; Stock Symbol: 4960 |
|
5 |
|
|
Name: |
Nexgen Mediatech
Inc |
|
Address: |
11F, No. 186, Jianyi
Rd., Chung Ho City, Taipei Hsien, Taiwan, R.O.C. |
|
Tel: |
+886-2-8227-1133 |
|
Fax: |
+886-2-82271498 |
|
6 |
|
|
Name: |
GIO
Optoelectronics Corp. |
|
Address: |
No.5 Titang Gang
Road, Fenghua Li, Xinshi District, Tainan City, Taiwan |
|
Tel: |
+886-6-588-9999 |
|
Fax: |
+886-6-509-1188 |
|
Listed at Stock
Exchange: |
Yes; Stock Symbol: 3610 |
|
7 |
|
|
Name: |
Chi Mei Visual
Technology Corporation |
|
Address: |
No.13, Muzhagang
W. Rd., Shanhua Dist., Tainan City 741, Taiwan (R.O.C.) |
|
Tel: |
+886-6-588-9988 |
|
Fax: |
+886-6-5091005 |
|
8 |
|
|
Name: |
Chimei Lighting
Technology Corp. |
|
Address: |
No.3, Titanggang
Rd., Xinshi Dist., Tainan City, Taiwan; Tainan, Taiwan |
|
Tel: |
+886-6-588-9968 |
|
Fax: |
+886-6-509-1268 |
|
9 |
|
|
Name: |
Chi Mei Trading
Co., Ltd. |
|
Address: |
7F, No. 9, Ai
Kuo West Road, Taipei, Taiwan |
|
Tel: |
+886-2-2349-7388 |
|
Fax: |
+886-2-2314-9419 |
|
10 |
|
|
Name: |
Chi Mei
Logistics Corp. |
|
Address: |
No.5 Kanxi Road,
Sinshih Township Tainan County, Taiwan |
|
Tel: |
+886-6-588-9977 |
|
Fax: |
+886-6-509-1158 |
|
11 |
|
|
Name: |
Chi Mei Frozen
Food Co., Ltd. |
|
Address: |
Mo.71 Delun
Road, Rende District, Tainan City, Taiwan |
|
Tel: |
+886-7-699-3901 |
|
Fax: |
+886-6-279-1194 |
Core
Management
|
1 |
|
|
Name |
Chunhua Xu |
|
Position |
Board Director |
|
2 |
|
|
Name |
Wenlong Xu |
|
Position |
Director |
|
3 |
|
|
Name |
Jinxiang Liao |
|
Position |
Director |
|
4 |
|
|
Name |
Lingyu Zhao |
|
Position |
Director |
|
5 |
|
|
Name |
Rongjun Lin |
|
Position |
Director |
|
6 |
|
|
Name |
Guangfu Song |
|
Position |
Director |
|
7 |
|
|
Name |
Qingsheng Lin |
|
Position |
Director |
|
8 |
|
|
Name |
Jucheng Lv |
|
Position |
Director |
|
9 |
|
|
Name |
Muzi Lu |
|
Position |
Director |
|
10 |
|
|
Name |
Zhaoyang He |
|
Position |
Supervisor |
|
11 |
|
|
Name |
Yongchun Wu |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 2,000 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
Production
Information
l
Subject is engaged in manufacture of industrial
chemicals such as synthetic resin, etc.
l
Subject has factories in Taiwan and mainland China
for production.
l
The annual capacities of subject as follows for
reference:
|
Product |
Annual Capacity |
|
ABS Resin |
1,500,000 tons |
|
PS Resin |
150,000 tons |
|
TPE |
50,000 tons |
|
PSP Resin |
120,000 tons |
Purchase
Information
l
The registered activities of subject:
|
C801010 |
Basic chemical industry |
|
C801020 |
Manufacture of raw materials for Petrochemical
industry |
|
C801060 |
Manufacture of synthetic rubber |
|
C801100 |
Manufacture of synthetic resin and
plastic cement |
|
C802990 |
Manufacture of other chemicals |
|
C901070 |
Manufacture of stone product |
|
CC01990 |
Manufacture of electrical motor and electronic
machinery |
|
F105050 |
Wholesale of Furniture, bedding, kitchen
appliances, fixtures |
|
F107990 |
Wholesale of other chemicals |
|
F199990 |
Other wholesale |
|
F205040 |
Retail of furniture, bedding, kitchen appliances,
fixtures |
|
F207990 |
Retail of other chemicals |
|
F299990 |
Other retail |
|
G801010 |
Storage industry |
|
H701020 |
Development, leasing and sales of industrial
factory building |
|
H701040 |
Development of specified area |
|
H701060 |
Development of new towns and new communities |
|
J101040 |
Waste treatment |
|
J101050 |
Environmental and engineering services |
|
J101060 |
Wastewater (sewage) treatment |
|
CC01080 |
Manufacture of electronic components |
|
C801990 |
Manufacture of other chemical materials |
|
C805010 |
Plastic leather, cloth, plate, pipe manufacturing |
|
C805050 |
Industrial plastic products manufacturing |
|
C805990 |
Other plastic products manufacturing |
|
C802090 |
Cleaning goods manufacturing |
|
C802100 |
Cosmetics manufacturing |
|
ZZ99999 |
Besides licensed business, all other business items
those are not banned or restricted. |
l
The components and raw materials for production are
purchased both home and abroad.
l
It is introduced that subject import technology
from Japan.
l Subject is engaged
in sales of industrial chemicals such as synthetic resin, etc.
l
Subject’s sales regions include Asia, America, and
Europe, etc.
l
Subject’s major customers include house ware
manufacturer, packaging manufacturer, communication & electronics
manufacturer, and garment manufacturer, etc.
l
Subject obtained the certifications of ISO 9001:
2000 and ISO 14001.
Major Products
|
1 |
|
|
2 |
|
|
3 |
|
|
4 |
|
|
5 |
PC Resin |
|
6 |
|
|
7 |
TPE |
|
8 |
|
|
9 |
|
|
10 |
|
|
11 |
|
|
12 |
|
|
13 |
|
|
14 |
|
|
15 |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase (Taiwan and Mainland, China)
|
Payment Terms |
Proportion |
|
|
Raw materials |
COD,CBD, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials |
CBD, etc |
100% |
Sales
Domestic Markets (Taiwan and Mainland, China)
|
Sales Terms |
Proportion |
|
|
Industrial chemicals such as synthetic resin, etc |
COD,CBD, Credit Sales, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Industrial chemicals such as synthetic resin, etc |
CBD, etc |
100% |
Notes: Subject’s settlement for export is generally in USD
Unit: NTD/000
|
Date |
2012-6-30 |
2011-6-30 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
2,113,541.00 |
1,517,876.00 |
|
Available-for-sale financial assets - current |
5,207,783.00 |
47,854.00 |
|
Notes receivable - net |
73,024.00 |
124,798.00 |
|
Accounts receivable - net |
1,649,990.00 |
1,478,301.00 |
|
Accounts receivable - related parties - net |
2,741,555.00 |
3,056,228.00 |
|
Other receivables |
569,516.00 |
342,764.00 |
|
Inventories |
11,635,436.00 |
14,802,853.00 |
|
Other current assets |
805,521.00 |
1,616,135.00 |
|
Current assets |
24,796,366.00 |
22,986,809.00 |
|
Funds and Investments |
|
|
|
Financial liabilities at fair value through
profit or loss-non current |
408,347.00 |
1,000,000.00 |
|
Available-for-sale financial assets-non current |
7,022,434.00 |
0.00 |
|
Financial assets at cost-non current |
1,180,384.00 |
1,235,570.00 |
|
Income from long-term equity investments under
the equity method |
22,656,430.00 |
57,483,246.00 |
|
Investments |
22,656,430.00 |
57,483,246.00 |
|
Other financial assets- non current |
78,364.00 |
87,599.00 |
|
Funds and Investments |
31,345,959.00 |
59,806,415.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
6,533,449.00 |
6,533,449.00 |
|
Buildings and structures |
5,494,314.00 |
5,319,745.00 |
|
Machinery and equipment |
33,603,307.00 |
32,156,632.00 |
|
Other facilities |
1,717,783.00 |
1,597,881.00 |
|
Revaluation increment |
89,525.00 |
89,525.00 |
|
Cost and revaluation increment |
47,438,378.00 |
45,697,232.00 |
|
Accumulated depreciation |
-31,302,874.00 |
-29,845,519.00 |
|
Accumulated loss-fix asset |
-1,070,512.00 |
-1,070,589.00 |
|
Construction in process and prepayment for
equipments |
3,622,069.00 |
3,123,111.00 |
|
Fixed assets |
18,687,061.00 |
17,904,235.00 |
|
Intangible Assets |
|
|
|
Deferred pension cost |
5,565.00 |
36,724.00 |
|
Other intangible assets |
215,860.00 |
178,673.00 |
|
Intangible assets |
221,425.00 |
215,397.00 |
|
Other assets |
|
|
|
Rent assets |
851,833.00 |
884,619.00 |
|
Idle assets |
1,126,288.00 |
1,128,936.00 |
|
Other assets-other |
1,369,316.00 |
1,467,394.00 |
|
Other assets |
3,347,437.00 |
3,480,949.00 |
|
Assets |
78,398,248.00 |
104,393,805.00 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowing |
1,043,814.00 |
1,945,736.00 |
|
Notes payable |
4,150,000.00 |
2,950,000.00 |
|
Accounts payable |
4,162,644.00 |
6,540,749.00 |
|
Accounts payable–related parties |
67,701.00 |
97,028.00 |
|
Income tax payable |
287,395.00 |
1,590,240.00 |
|
Other payables |
1,263,396.00 |
1,347,150.00 |
|
Long-Term Liabilities-Current Portion |
0.00 |
7,250,000.00 |
|
Other current liabilities |
999,099.00 |
318,530.00 |
|
Current liabilities |
11,974,049.00 |
22,039,433.00 |
|
Long term Liabilities |
|
|
|
Long-term loans |
23,111,400.00 |
16,431,400.00 |
|
Long term liabilities |
23,111,400.00 |
16,431,400.00 |
|
Reserves |
|
|
|
Reserve for land revaluation increment tax |
2,320.00 |
2,320.00 |
|
Reserves |
2,320.00 |
2,320.00 |
|
Other Liabilities |
|
|
|
Pension reserve / accrued pension liability |
527,591.00 |
464,662.00 |
|
Deferred income taxes |
373,174.00 |
310,616.00 |
|
Other liabilities - other |
506,125.00 |
1,082,344.00 |
|
Other liabilities |
1,406,890.00 |
1,857,622.00 |
|
Liabilities |
36,494,659.00 |
40,330,775.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
17,076,760.00 |
17,262,480.00 |
|
Capital Surplus |
|
|
|
Capital surplus - additional paid-in capital |
0.00 |
27,747.00 |
|
Capital surplus - long-term equity investments |
265,792.00 |
222,695.00 |
|
Capital surplus |
265,792.00 |
250,442.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
10,055,690.00 |
10,055,690.00 |
|
Special reserve |
909,116.00 |
7,882.00 |
|
Unappropriated retained earnings |
27,761,989.00 |
38,825,279.00 |
|
Retained earnings |
38,726,795.00 |
48,888,851.00 |
|
Stockholders' Equity and Other adjustment |
|
|
|
Cumulative translation adjustments |
190,792.00 |
-516,581.00 |
|
Net loss not recognized as pension cost |
-282,453.00 |
-190,763.00 |
|
Unrealized gains (losses) on financial
instruments |
-13,373,335.00 |
-397,901.00 |
|
Unrealized Revaluation Increment |
108,148.00 |
108,148.00 |
|
Treasury stock |
-808,910.00 |
-1,341,646.00 |
|
Stockholders other equity adjustments |
-14,165,758.00 |
-2,338,743.00 |
|
Stockholders-equity |
41,903,589.00 (USD 1,399,579,872.60) |
64,063,030.00 (USD 2,139,705,202.00) |
|
Number of treasury stock acquired by the company and
subsidiaries (unit: share) |
25,964,000.00 |
37,813,000.00 |
|
Equivalent Shares of Outstandings of Advance
Receipts for Common Stock (Unit: Share) |
0.00 |
0.00 |
(As of 2012.09, 1 NTD =
0.0334 USD)
Unit: NTD/000
|
Date |
2012-1-1~2012-6-30 |
2011-1-1~2011-6-30 |
|
Sales |
45,088,854.00 (USD 1,505,967,723.60) |
53,465,087.00 (USD 1,785,733,905.80) |
|
Sales returns |
545,097.00 |
544,640.00 |
|
Sales |
44,543,757.00 |
52,920,447.00 |
|
Operating income |
44,543,757.00 |
52,920,447.00 |
|
Cost of sales |
40,652,507.00 |
44,632,663.00 |
|
Operating costs |
40,652,507.00 |
44,632,663.00 |
|
Gross profit (loss) from operations |
3,891,250.00 |
8,287,784.00 |
|
Unrealized gains on intercompany transactions |
58,597.00 |
160,637.00 |
|
Realized gains on intercompany transactions |
76,521.00 |
89,282.00 |
|
Selling expense |
951,284.00 |
968,167.00 |
|
General and administrative expenses |
376,103.00 |
466,910.00 |
|
Research and development expenses |
539,467.00 |
447,720.00 |
|
Operating expenses |
1,866,854.00 |
1,882,797.00 |
|
Operating income (loss) |
2,042,320.00 |
6,333,632.00 |
|
Non-Operating Income |
|
|
|
Interest income |
7,823.00 |
4,259.00 |
|
Investment income |
27,560.00 |
54,313.00 |
|
Dividend income |
27,560.00 |
54,313.00 |
|
Gains on sale of investments |
0.00 |
19,421.00 |
|
Foreign exchange gains |
43,826.00 |
36,459.00 |
|
Rent income |
78,543.00 |
52,916.00 |
|
Miscellaneous income |
179,374.00 |
110,174.00 |
|
Non-operating revenues and gains |
337,126.00 |
277,542.00 |
|
Non-Operating Expenses |
|
|
|
Interest expense |
202,785.00 |
192,308.00 |
|
Investment loss recognized under equity method |
3,792,581.00 |
2,897,656.00 |
|
Investment losses |
3,792,581.00 |
2,897,656.00 |
|
Miscellaneous disbursements |
20,451.00 |
19,622.00 |
|
Non-operating expenses and losses |
4,015,817.00 |
3,109,586.00 |
|
Income (loss)from continuing operations before
income tax |
-1,636,371.00 |
3,501,588.00 |
|
Income tax expense (benefit) |
254,022.00 |
1,734,358.00 |
|
Income (loss) from continuing operations |
-1,890,393.00 |
1,767,230.00 |
|
Net income (loss) |
-1,890,393.00 (USD -63,139,126.20) |
1,767,230.00 (USD 59,025,482.00) |
|
Primary Earnings per Share |
|
|
|
Income (loss) from continuing operations |
-1.12 |
1.05 |
|
Primary earnings per share |
-1.12 |
1.05 |
|
Diluted earnings per share |
|
|
|
Income (loss) from continuing operations |
-1.12 |
1.04 |
|
Diluted earnings per share |
-1.12 |
1.04 |
(As of 2012.09, 1 NTD =
0.0334 USD)
Unit: NTD/000
|
Date |
2012-1-1~2012-6-30 |
2011-1-1~2011-6-30 |
|
Cash Flows from Operating Activities - Indirect
Method |
|
|
|
Net Income (Loss) |
(1,890,393) |
1,767,230 |
|
Adjustment item |
|
|
|
Depreciation Expense |
991,733 |
1,252,414 |
|
Amortization Expense |
114,107 |
106,663 |
|
Allowance for sales returns and allowances |
87,135 |
241,860 |
|
Loss (Gain) on Decline (Recovery) in Market
Value, Scrap and Obsolescence of Inventories |
129,241 |
6,247 |
|
Investment Loss (Income) Recognized under Equity
Method |
3,792,581 |
2,897,656 |
|
Received the equity method of invested company
cash dividends |
17,840 |
278,997 |
|
Loss (Gain) on Disposal of Fix Assets |
-1,759 |
-4,268 |
|
Fix assets transferred charges |
0 |
23,491 |
|
Decrease (Increase) in Income from long-term
equity investments under the equity method |
0 |
4,133 |
|
Other adjustment item |
0 |
-23,554 |
|
Changes in Operating Assets and Liabilities |
|
|
|
Decrease (Increase) in Notes Receivable |
70,993 |
149,267 |
|
Decrease (Increase) in Accounts Receivable |
-163,697 |
-313,778 |
|
Decrease (Increase) in Other Receivable |
-19,216 |
101,336 |
|
Decrease (Increase) in Inventories |
-1,819,933 |
-5,493,763 |
|
Decrease (Increase) in Other Current Assets |
-110,380 |
-96,241 |
|
Decrease (Increase) in Deferred Income Tax assets |
-55,079 |
138,441 |
|
Increase (Decrease) in Notes Payable |
-734,265 |
1,664,495 |
|
Increase (Decrease) in income tax payable |
107,982 |
63,672 |
|
Increase (Decrease) in other accounts payable |
-508,279 |
-2,157,493 |
|
Increase (Decrease) in Other Current Liabilities |
156,310 |
-445,091 |
|
Increase (Decrease) in accrued pension
liabilities |
-239 |
-228 |
|
Net Cash Provided by (Used in) Operating
Activities |
164,682 |
161,486 |
|
Cash Flows from Investing Activities |
|
|
|
Disposal of Financial liabilities at fair value
through profit or loss |
591,653 |
0 |
|
Disposal of Financial assets at cost-non current |
0 |
28,679 |
|
Increase in income from long-term equity
investments under the equity method |
0 |
-1,135,979 |
|
Disposal of the cost income from long-term equity
investments under the equity method |
0 |
78,693 |
|
Purchase of Property, Plant and Equipment |
-1,273,887 |
-2,997,795 |
|
Proceeds from Disposal of Property, Plant and
Equipment |
2,260 |
9,842 |
|
Purchase of intangible assets |
-7,760 |
-5,992 |
|
Increase (Decrease) in other financial assets |
19,709 |
128,153 |
|
Increase (Decrease) in other assets |
-19,408 |
-35,737 |
|
Net Cash Provided by (Used in) Investing
Activities |
-687,433 |
-3,930,136 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in short-term borrowing |
-161,864 |
-1,745,850 |
|
Increase (Decrease) in payable short-term
transactions instruments |
-200,000 |
1,600,000 |
|
Bonds redeemed |
-5,000,000 |
0 |
|
Long-term loans borrowing |
8,590,000 |
3,270,000 |
|
Repay long-term loans |
-800,000 |
-1,100,000 |
|
Increase (Decrease) in other liabilities |
-284,304 |
954,462 |
|
Issue cash dividend |
-1,682,385 |
-2,557,473 |
|
Cost of buying treasury stock |
-55,365 |
-17,547 |
|
Net Cash Provided by (Used in) financial
Activities |
406,082 |
403,592 |
|
Net Increase (Decrease) in Cash and Cash
Equivalents |
-116,669 |
-3,365,058 |
|
Cash and Cash Equivalents, Beginning of year |
2,230,210 |
4,882,934 |
|
Cash and Cash Equivalents, End of year |
2,113,541 |
1,517,876 |
|
Supplemental Cash Flow Information |
|
|
|
Income Tax Paid |
273,574 |
255,085 |
|
Non capitalized interest-interest paid |
273,574 |
255,085 |
|
Payable income tax |
201,119 |
1,532,245 |
|
Net cash provided by (used in) no influence on
investment and financial activities |
|
|
|
Long-Term Liabilities -Current Portion |
0 |
7,250,000 |
|
Fix assets transferred to idle assets |
27,263 |
105,097 |
|
Fix assets transferred to deferred charges |
2,395 |
0 |
|
Long term equity investment transferred to Available
for sale financial assets-current |
23,594,234 |
0 |
|
Investing Activities Affecting Both Cash and
Non-cash Items |
|
|
|
Pay cash on fix assets |
|
|
|
Increase in fix assets |
1,274,148 |
2,882,340 |
|
Increase (Decrease) in payable of purchasing
equipment |
(261) |
115,455 |
|
Pay cash on fix assets |
1,273,887 |
2,997,795 |
Subject did not introduce its bank details, from other source we can not
obtained the relevant information, either.
Mortgage
No chattel mortgage record of subject has been found within the recent 3
months.
Lawsuit
Up to date of
reporting, no existing or latent litigation of the subject has been found.
|
Name |
Mr. Wang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.27 |
|
UK Pound |
1 |
Rs.87.42 |
|
Euro |
1 |
Rs.70.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
NLM |
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.