|
Report Date : |
27.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
CTC UNION TECHNOLOGIES CO., LTD. |
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|
|
|
Registered Office : |
8, 9F., No.60, 62, Zhouzi St., Nei-Hu Dist., Taipei 114 |
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|
|
|
Country : |
Taiwan |
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|
|
|
Financials (as on) : |
30.06.2011 |
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|
|
|
Date of Incorporation : |
19.07.1993 |
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|
|
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Com. Reg. No.: |
84297462 |
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|
|
|
Legal Form : |
Overseas Company |
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|
|
|
Line of Business : |
Manufacture and trading of surveillance monitoring, communications equipment, etc. |
|
|
|
|
No. of Employees : |
About 100 employees |
RATING & COMMENTS
|
MIRAs Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 30,000 |
|
Status : |
Moderate |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Company Name: |
|
|
Supplied Name: |
|
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Trading Address: |
8, 9F., No.60, 62, Zhouzi St., Nei-Hu Dist.,
Taipei 114, Taiwan, R.O.C. |
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-2659-1021 |
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Fax Number: |
Notes:
The exact subjects address is as above mentioned.
|
Credit Rating: |
|
|
Credit Opinion: |
Subject was incorporated on 1993-7-19 with registered
number 84297462 as Overseas Company in Taiwan.
Change of Name
|
Former Chinese
Name |
主向位科技有限公司 |
|
Current Chinese
Name |
主向位科技股份有限公司 |
|
Subscription Shares |
|
|
Jinghai Zhang |
4,387,412 |
|
Shuxia Yang |
|
|
2,096,571 |
|
|
Weidong Jiang |
148,513 |
|
Jiande Xie |
318,919 |
|
Mega International Commercial
Bank Co., Ltd. |
5,809,582 |
|
Jinjian Cai |
715,968 |
|
Dongyi Yang |
45,002 |
The information
above is that of subjects major shareholders.
Core
Management
Directors
|
1 |
|
|
Name |
Jinghai Zhang |
|
Position |
Chairman |
|
2 |
|
|
Name |
Shuxia Yang |
|
Position |
Director |
|
3 |
|
|
Name |
Weidong Jiang |
|
Position |
Director |
|
4 |
|
|
Name |
Jiande Xie |
|
Position |
Director |
|
5 |
|
|
Name |
Mega International
Commercial Bank Co., Ltd. |
|
Position |
Director |
|
6 |
|
|
Name |
Jinjian Cai |
|
Position |
Supervisor |
|
7 |
|
|
Name |
Dongyi Yang |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 100 employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
8, 9F., No.60, 62, Zhouzi St., Nei-Hu Dist., Taipei 114, Taiwan, R.O.C. |
Production
Information
l
Subject produces surveillance monitoring, communications
equipment, etc.
l
Subject has its factory in Taiwan.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
CC01010 |
Manufacturing of generation,
transmission, and distribution equipment |
|
CC01050 |
Manufacturing of Data
storage and processing equipment |
|
CC01060 |
Manufacturing of Wired
communication machinery and equipment system |
|
CC01070 |
Manufacturing of Wireless
communication machinery and equipment |
|
CC01080 |
Manufacturing of Electronic
Parts and Components |
|
CE01010 |
Manufacturing of General
equipment |
|
E599010 |
Piping engineering industry |
|
E605010 |
Computer Equipment
Installation |
|
E701010 |
Communication engineering
(not obtained the permission in the registration) |
|
E701030 |
Controlled telecommunications
radio frequency equipment, installation of engineering |
|
F113050 |
Transactional wholesale
trade of machinery and equipment |
|
F113070 |
Wholesaling of
Telecommunications equipment |
|
F118010 |
Wholesaling of IT software |
|
F119010 |
Wholesaling of Electronic
materials |
|
F213010 |
Electrical retail |
|
F213030 |
Retailing of Transactional
machinery and equipment |
|
F213040 |
Retailing of Precision
instrument |
|
F213060 |
Retailing of
Telecommunications equipment |
|
F218010 |
Retailing of IT software |
|
F219010 |
Retailing of Electronic
materials |
|
F401030 |
Manufacturing output
industry |
|
I301010 |
IT software services |
|
I301020 |
DATA PROCESSING SERVICES |
|
I301030 |
Electronic Information
Supply Services |
|
I501010 |
The product design industry |
|
IZ99990 |
Other business services
(motor controllers, computer numerical control, computer control system
equipment, communications network system, modem, data communication network system,
users switching systems, wireless communications equipment, optical fiber,
optical cable, optical communication network systems equipment andits
components, aerospace, communications and control systems, communications and
network test equipment, communication lines and client testing equipment,
composite terminal board, security, telemetry interface of the telephone
subscriber loop isolators, transmission lines and facilities security
monitoring and management system of research and development) |
|
EZ05010 |
Instruments, meters,
installation engineering |
|
F113020 |
Wholesaling of electrical
appliances |
|
F113030 |
Wholesaling of Precision
instrument |
|
CC01101 |
Manufacturing of Controlled
telecommunications radio frequency equipment |
|
F401021 |
Enter the industry of
telecommunications control RF equipment |
|
ZZ99999 |
Besides licensed
business, all other business items those are not banned or restricted. |
l
The components and raw material for production are
purchased from both domestic and abroad.
l
The subject has a
proportion of 50% for Import
l
The subject is mainly engaged in manufacturing,
processing and trading of surveillance
monitoring, communications equipment, etc.
l
Subjects
products include Transceiver, Tester, converters, multiplexers, XDSL, modem,
etc.
l
Subject has both domestic and foreign markets.
l
Subject has an 80% proportion for export.
l
Subject exports to Europe, America, and some Asian
countries.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Components and raw material |
COD, CBD, etc. |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Components and raw material |
CBD, etc. |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Surveillance
monitoring, communications equipment, etc. |
COD, CBD, etc. |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Surveillance
monitoring, communications equipment, etc. |
CBD, etc. |
100% |
Unit: NTD/000
|
Date |
2011-6-30 |
2010-6-30 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash
equivalents |
29,877.00 |
8,035.00 |
|
Notes receivable
- net |
82.00 |
367.00 |
|
Accounts
receivable - net |
39,572.00 |
44,979.00 |
|
Accounts
receivable - related parties - net |
0.00 |
11,514.00 |
|
Other
receivables |
90,655.00 |
115,366.00 |
|
Inventories |
95,782.00 |
90,519.00 |
|
Prepayments |
6,272.00 |
8,128.00 |
|
Other current
assets |
19,764.00 |
12,375.00 |
|
Current assets |
282,004.00 |
291,283.00 |
|
Funds and
Investments |
|
|
|
Long-term equity investment |
6,181.00 |
2,101.00 |
|
Investments |
6,181.00 |
2,101.00 |
|
Funds and
Investments |
6,181.00 |
2,101.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
104,281.00 |
104,281.00 |
|
Buildings and
structures |
87,368.00 |
87,368.00 |
|
Machinery and
equipment |
7,896.00 |
5,016.00 |
|
Transportation
equipment |
2,379.00 |
2,454.00 |
|
Office equipment |
19,779.00 |
19,883.00 |
|
Other equipment |
38,297.00 |
36,476.00 |
|
Fixed Assets |
260,000.00 |
255,478.00 |
|
Accumulated depreciation |
-69,193.00 |
-62,752.00 |
|
Fixed assets |
190,807.00 |
192,726.00 |
|
Intangible
Assets |
|
|
|
Other Assets |
|
|
|
Guarantee
deposits paid |
1,071.00 |
1,074.00 |
|
Deferred charges |
3,307.00 |
2,252.00 |
|
Deferred income
tax assets - non current |
20,662.00 |
25,586.00 |
|
Other assets -
other |
8,284.00 |
7,517.00 |
|
Other assets |
33,324.00 |
36,429.00 |
|
Assets |
512,316.00 |
522,539.00 |
|
Liabilities and
Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current
Liabilities |
|
|
|
Short-term
borrowings |
25,000.00 |
30,000.00 |
|
Notes payable |
29,629.00 |
33,096.00 |
|
Accounts payable |
12,804.00 |
9,858.00 |
|
Income tax
payable |
0.00 |
572.00 |
|
Accrued expenses |
16,666.00 |
10,091.00 |
|
Long-term liabilities due
within one year or one operating cycle |
9,374.00 |
9,374.00 |
|
Other current
liabilities |
5,668.00 |
2,634.00 |
|
Current
liabilities |
99,141.00 |
95,625.00 |
|
Long term
Liabilities |
|
|
|
Long-term
borrowings |
70,603.00 |
79,977.00 |
|
Long-term
liabilities |
70,603.00 |
79,977.00 |
|
Reserves |
|
|
|
Other
Liabilities |
|
|
|
Guarantee
deposits received |
771.00 |
771.00 |
|
Other
liabilities - other |
0.00 |
3,019.00 |
|
Other
liabilities |
771.00 |
3,790.00 |
|
Liabilities |
170,515.00 |
179,392.00 |
|
Stockholders'
Equity |
|
|
|
Capital |
|
|
|
Common stock |
315,835.00 |
309,654.00 |
|
Stock dividend
to be distributed |
6,305.00 |
6,181.00 |
|
Capital Surplus |
|
|
|
Capital surplus
- additional paid-in capital |
125.00 |
125.00 |
|
Capital surplus |
125.00 |
125.00 |
|
Retained
Earnings |
|
|
|
Legal reserve |
26,450.00 |
25,730.00 |
|
Inappropriate
retained earnings |
-8,428.00 |
-384.00 |
|
Retained
earnings |
18,022.00 |
25,346.00 |
|
Stockholders'
Equity and Other adjustment |
|
|
|
Cumulative
translation adjustments |
1,941.00 |
2,268.00 |
|
Treasury stock |
-427.00 |
-427.00 |
|
Equity
adjustments |
1,514.00 |
1,841.00 |
|
Stockholdersˉ
equity |
341,801.00 |
343,147.00 |
Unit: NTD/000
|
Date |
~ |
~ |
|
Sales |
155,526.00 |
150,755.00 |
|
Sales returns |
627.00 |
895.00 |
|
Sales
discounts |
27.00 |
37.00 |
|
Sales |
154,872.00 |
149,823.00 |
|
Operating income |
154,872.00 |
149,823.00 |
|
Operating costs |
114,379.00 |
100,325.00 |
|
Gross profit (loss) from operations |
40,493.00 |
49,498.00 |
|
Unrealized gains on intercompany transactions |
0.00 |
3,019.00 |
|
Realized gains on intercompany transactions |
0.00 |
2,778.00 |
|
Selling expense |
14,348.00 |
17,373.00 |
|
General and administrative expenses |
13,227.00 |
11,154.00 |
|
Research and development expenses |
23,093.00 |
17,908.00 |
|
Operating expenses |
50,668.00 |
46,435.00 |
|
Operating income (loss) |
-10,175.00 |
2,822.00 |
|
Non-Operating Income |
|
|
|
Interest income |
5.00 |
2.00 |
|
Gains on disposal of fixed assets |
143.00 |
0.00 |
|
Miscellaneous income |
1,029.00 |
1,608.00 |
|
Non-operating revenues and gains |
1,177.00 |
1,610.00 |
|
Non-Operating Expenses |
|
|
|
Interest expense |
805.00 |
880.00 |
|
Losses from long-term equity investments under
the equity method |
1,005.00 |
1,240.00 |
|
Investment loss |
1,005.00 |
1,240.00 |
|
Foreign exchange losses |
317.00 |
228.00 |
|
Miscellaneous disbursements |
6.00 |
0.00 |
|
Non-operating expenses and losses |
2,133.00 |
2,348.00 |
|
Income from continuing operations before income
tax |
-11,131.00 |
2,084.00 |
|
Income tax expense (benefit) |
-1,496.00 |
3,500.00 |
|
Income from continuing operations |
-9,635.00 |
-1,416.00 |
|
Net income (loss) |
-9,635.00 |
-1,416.00 |
|
Primary Earnings per Share |
|
|
|
Primary earnings per share |
-0.31 |
-0.04 |
|
Diluted earnings per share |
|
|
|
Diluted earnings per share |
-0.31 |
-0.04 |
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 |
Ms. Wu |
|
E-mail |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.06 |
|
|
1 |
Rs.77.19 |
|
Euro |
1 |
Rs.65.57 |
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 SCs 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.