|
Report Date : |
09.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
SCIENTECH CORPORATION |
|
|
|
|
Registered Office : |
11F., No.208, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
17.10.1979 |
|
|
|
|
Com. Reg. No.: |
30901647 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing, representative, sales of semiconductor (front-end, back-end and GaAs), flat panel display, LED, data storage, scientific instruments and high-tech related products |
|
|
|
|
No. of Employees : |
About 400 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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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: |
Scientech Corporation |
|
Supplied Name: |
SCIENTECH CORP |
|
Trading Address: |
11F., No.208, Rueiguang Rd., Neihu District, Taipei City 114, Taiwan
(R.O.C.) |
|
Supplied Address: |
Taipei Headquarters 114 11FL Taipei Neihu Technology Park 208 Rueiguang
Rd Neihu Dist. Taipei City 114 |
|
Telephone Number: |
+886-2-8751-2323 |
|
Fax Number: |
+886-2-8751-2020 |
|
E-mail: |
|
|
Website: |
Notes:
The exact name and address are as above.
|
Credit Opinion: |
Subject was incorporated
on 1979-10-17 with registered number 30901647
as Joint Stock Company in
Taiwan.
Subject was listed on Taiwan stock exchange on 2012-4-23
|
Name |
Subscription Shares |
|
Hongliang Xie |
9,961,013 |
|
Mingqi Xu |
580,215 |
|
British Cayman Islands ShangYongwei Opportunity
Fund Co., Ltd. (Translated) |
1,027,000 |
|
Fu Wei Investment Corporation (Translated) |
1,341,262 |
|
Kehuang Lin |
384,627 |
|
Huan Zhong Investment Corporation (Translated) |
2,442,909 |
The information above is that of subject’s major shareholders.
Offices
|
1 |
|
|
Name |
Scientech Corporation Hsin-chu office |
|
Address |
No. 182, Bade
Rd., Hsinchu, 30069, Taiwan, R.O.C |
|
Telephone Number |
+886-3-516-5177 |
|
Fax Number |
+886-3-516-5797 |
|
2 |
|
|
Name |
Scientech Corporation Huko office |
|
Address |
No.16,Jhong-hua
Rd., Hukou Township, Hsin-chu County, 30352, Taiwan, R.O.C |
|
Telephone Number |
+886-3-598-6199 |
|
Fax Number |
+886-3-598-0217 |
|
3 |
|
|
Name |
Scientech Corporation Taichung office |
|
Address |
9F-4, No. 16,
Lane 159-11, Sec.3, Situn Rd., Situn District, Taichung, 40763, Taiwan, R.O.C |
|
Telephone Number |
+886-4-2461-3751 |
|
Fax Number |
+886-4-2461-3762 |
|
4 |
|
|
Name |
Scientech Corporation Tainan office |
|
Address |
2F,No. 143
,Zhong-Zheng Rd., Xin-he Village, Hsin-shi Township, Tainan, 74447, Taiwan,
R.O.C. |
|
Telephone Number |
+886-6-599-5149 |
|
Fax Number |
+886-6-589-1232 |
|
5 |
|
|
Name |
Scientech Corporation Kaohsiung office |
|
Address |
9F-2, No 380,
Min-Chuan 2nd Rd., Chien-Chen District, Kaohsiung, 80654, Taiwan, R.O.C. |
|
Telephone Number |
+886-7-333-0084 |
|
Fax Number |
+ 886-7-331-8543 |
|
6 |
|
|
Name |
Scientech Corporation USA office |
|
Address |
1135 East Arques
Avenue, Sunnyvale, CA, 94085, USA |
|
Telephone Number |
+1-408-732-8828 |
|
Fax Number |
+1-408-732-1388 |
|
7 |
|
|
Name |
Scientech Corporation Shanghai office |
|
Address |
Room 1301, Baoan
Building, 800 Dongfang Road, Pudong New Area Shanghai , 200122, China |
|
Telephone Number |
+86-21-5820-0880 |
|
Fax Number |
+86-21-5820-0368 |
|
8 |
|
|
Name |
Scientech Corporation Singapore office |
|
Address |
Block 5000, Ang
Mo Kio Ave 5#04-12, Techplace II, 569870, Singapore |
|
Telephone Number |
+65-6483-3303 |
|
Fax Number |
+65-6483-3313 |
Core
Management
|
1 |
|
|
Name |
Hongliang Xie |
|
Position |
Chairman |
|
2 |
|
|
Name |
Mingqi Xu |
|
Position |
Director |
|
3 |
|
|
Name |
Chonghe Xiao |
|
Position |
Director |
|
4 |
|
|
Name |
Fu Wei
Investment Corporation (Translated) |
|
Position |
Director |
|
5 |
|
|
Name |
Kehuang Lin |
|
Position |
Director |
|
6 |
|
|
Name |
Zhaozhen Xie |
|
Position |
Supervisor |
|
7 |
|
|
Name |
Hanliang Hu |
|
Position |
Supervisor |
|
8 |
|
|
Name |
Desheng Huang |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 400 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
11F., No.208, Rueiguang Rd., Neihu District, Taipei City 114, Taiwan
(R.O.C.) |
l
Subject is engaged in manufacturing of
semiconductor (front-end, back-end and GaAs), LED, etc.
l
It is introduced that subject has two factories in
Hsinchu, Taiwan and Huko, Taiwan for production wafer, etc; the annual capacity
is 1200,000 pieces.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
CB01010 |
Manufacturing of mechanical equipment |
|
CC01080 |
Manufacturing of electronic components |
|
E603050 |
Engineering automatic control equipment |
|
F113010 |
Wholesale of mechanical equipment |
|
F119010 |
Wholesale of electronic material |
|
F113030 |
Wholesale of precise instrument |
|
F401010 |
International trade business |
|
F401021 |
Input of radio frequency equipment with
telecommunications regulation |
|
C901010 |
Manufacturing of ceramic and ceramic products |
|
C901020 |
Manufacturing of glass and glass products |
|
IG01010 |
Service of biotechnology |
|
IC01010 |
Drug inspection |
|
C199990 |
Manufacturing of other uncategorized food |
|
C802100 |
Manufacturing of cosmetics |
|
C105010 |
Manufacturing of edible oil and fat |
|
C110010 |
Manufacturing of drink |
|
F102020 |
Wholesale of edible oil and fat |
|
F102170 |
Wholesale of food |
|
F203010 |
Retail of food and drink |
|
F213040 |
Retail of precise instrument |
|
F213080 |
Retail of mechanical appliances |
|
F218010 |
Retail of Information software |
|
F219010 |
Retail of electronic material |
|
IZ99990 |
Service of other industry and commerce |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted |
l
The components and raw material for production are
mostly purchased in Taiwan domestic market.
l
Some products import from original manufacturer
directly.
l
Subject is engaged in
sales of semiconductor (front-end, back-end and GaAs), flat panel display, LED,
data storage, scientific instruments and high-tech related products.
l
Subject has their own brand “SCIENTECH”.
l
Subject’s main customer is “TSMC”.
l
Subject’s sales regions include Taiwan domestic
market, North America, and South Korea, etc
l
Subject operates as an
agent and sells the products with the brands “BECKMAN COULTER”, “BERGHOF”,
“DANI”, “ELTRA”, “ELEMENTAR”, “GNR”, “LETECH”, “POSTNOVA ANALYTICS”, and
“CANON”, etc.
Major Products and Brands
|
Product |
Brand |
|
ChromCEO- Data Analysis
system for Chromatography Wet Bench LED Laser Engraving
Tool Asher |
SCIENTECH |
|
Z-series Cell Counter MultiSizer3 Coulter
Counter Laser Diffraction
Particle Size Analyzer Delsa Nano Size/Zeta
Potential Analyzer Vi-cell series Cell
Viability Analyzer SA3100 Surface Area and
Pore Size Analyzer |
BECKMAN COULTER |
|
High pressure Microwave digestion
system Distill acid |
BERGHOF |
|
MASTER TOF-MS Master SHS Static
Headspace Sampler MASTER GC MASTER TD Thermal
Desorber |
DANI |
|
CNHOS Elemental
Analyzer Rapid N Analyzer Trace S/N Cube TOC/TN Analyzer Solid TOC Analyzer Isotope Elemental
Analyzer Elemental Analysis of
Hetero Atom |
ELEMENTAR |
|
Carbon/ Sulfur
Determinator Oxygen/ Hydrogen
Determinator Oxygen/ Nitrogen
Determinator Carbon/ Hydrogen/
Sulfur Determinator Oxygen/ Nitrogen/
Hydrogen Determinator Hydrogen Determinator Thermogravimetric
Analyser |
ELTRA |
|
X-Ray Diffraction
Analyzer (XRD) Total Reflection X-Ray
Fluorescence Analyzer (TXRF) Spark spectrometer |
GNR |
|
LCTech FREESTYLE
SPE/GPC/Precise and quantitative concentrated/Fully Automated Distillation Device
SR6/Fully Automated Solid Phase Extraction
(SPE) /Fully Automated Four GPC Systems in one
Device GPC quattro) LCTech Mycotoxins
Immunoaffinity columns |
LCTech |
|
Field Flow
Fractionation |
Postnova |
|
Automatic Polarimeters Automatic Density
Meters Saccharimeters Automatic
Refractometers |
RUDOLPH |
|
ICP-OES Mercury Analyzers and
sample preparation System Mercury Analysis system
for Appendix K |
TELEDYNE |
|
Thermo gravimetric
Analyzer (TGAHigh Pressure TGA) TGA-MS, TGA-FTIR Dynamic Contact Angle
(DCA) High Pressure &
High Vacuum Digital Recording Balance |
Thermo |
|
HPLC High Speed LC PhotoDiode Array
Detector (PDA) MSQ Mass Spectrometry |
Thermo Fisher |
|
GPC/SEC SYSTEM Absolute Molecular
Weight Analyzer Differential Viscometer
Multiple Angel Laser
Light Scattering Detector |
WGE Dr Bures |
|
3D X-ray CT Micro XCT ( Micro
XCT-200、Micro XCT-400) Nano XCT (
UltraXRM-L200) |
Xradia |
|
Box Type Studio / Field
Lenses HDTV ENG / EFP Lenses HDgc Series SDTV ENG / EFP Lenses Pro-Video ENG Lenses Remote Control Lenses EC Zoom / Prime Lenses Free Space Optics CANOBEAM
Remote Control Pan-Tilt
System NU-700 / BU-50L |
Canon |
|
ＭicroProf 200 /
300 MicroProf MFE 200/300 |
FRT |
|
Auto 6”, 8”, 12” Wafer
Sorter |
GENMARK |
|
Robot, Load Port,
Stage, Pre-Aligner, Handler |
Kensington |
|
P16 Desktop Profiler,
Surface Profile, Step Height, Etch depth, Roughness, Waviness ASIQ Desktop Profiler,
Surface Profile, Step Height, Etch depth, Roughness, Waviness HRP-340/HRP240,High
Resolution Profiler, Candela: Optical Surface Defect Analyzers, Surface
Profile, Step Height, Etch depth, Roughness, Waviness ADE: 3D Optical Surface
Profiler |
KLA Tencor |
|
KSI V-Series Scanning
Acoustic Tomography KSI nano-Series
Scanning Acoustic Tomography |
KSI |
|
High & Ultra-High
Vacuum Components |
MDC |
|
Nano Imprintor |
Nanonex |
|
Ultra-thin Film
Thickness and Compositional Metrology |
Revera |
|
Pumps Industrial Pumps Pumps for Refinery,
Petrochemical and Power Industries |
EBARA |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase (Taiwan)
|
Payment Terms |
Proportion |
|
|
Semiconductor, LED, etc |
COD, CBD, Credit Sales, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Chemistry and biotechnology, broadcast equipment,
etc |
CBD, etc |
100% |
Sales
Domestic Markets (Taiwan)
|
Sales Terms |
Proportion |
|
|
Semiconductor, flat panel display, LED, data
storage, scientific instruments, etc |
COD, CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Semiconductor, flat panel display, LED, data
storage, scientific instruments, etc |
CBD, etc |
100% |
Notes: Subject’s settlement for export is generally in USD
|
2011-12-31 |
2010-12-31 |
|
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
121,648.00 |
87,771.00 |
|
Notes receivable - net |
11,945.00 |
29,397.00 |
|
Accounts receivable - net |
344,525.00 |
298,986.00 |
|
Accounts receivable - related parties - net |
10,108.00 |
14,139.00 |
|
Other receivables |
0.00 |
0.00 |
|
Other receivables - related parties |
0.00 |
0.00 |
|
Inventories |
454,248.00 |
330,548.00 |
|
Advance charge |
0.00 |
0.00 |
|
Advance payment |
80,682.00 |
86,146.00 |
|
Other current assets |
70,444.00 |
59,071.00 |
|
Current assets |
1,093,600.00 |
906,058.00 |
|
Funds and Investments |
|
|
|
Available-for-sale financial assets - non current |
0.00 |
0.00 |
|
Financial assets carried at cost - non current |
150.00 |
3,600.00 |
|
Bonds investment without market price - non current |
6,424.00 |
6,424.00 |
|
Long Equity investments under equity method |
175,422.00 |
350,501.00 |
|
Investments |
175,422.00 |
350,501.00 |
|
Funds and investments |
181,996.00 |
360,525.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
216,634.00 |
84,394.00 |
|
Buildings and structures |
1,164,978.00 |
342,344.00 |
|
Machinery and equipment |
1,126,779.00 |
37,607.00 |
|
Other equipment |
33,968.00 |
15,349.00 |
|
Fixed assets cost |
2,542,359.00 |
479,694.00 |
|
Accumulated depreciation |
-847,598.00 |
-95,182.00 |
|
Construction in process and prepayment for
equipments |
78,382.00 |
0.00 |
|
Fixed assets |
1,773,143.00 |
384,512.00 |
|
Intangible Assets |
|
|
|
Patent right |
4,069.00 |
0.00 |
|
Reputation |
666.00 |
0.00 |
|
Deferred pension cost |
1,894.00 |
0.00 |
|
Intangible assets |
6,629.00 |
0.00 |
|
Other assets |
|
|
|
Deferred charges |
10,187.00 |
11,622.00 |
|
Long-term notes receivable and fund - related
parties |
0.00 |
256,796.00 |
|
Deferred income tax assets - non current |
51,359.00 |
71,092.00 |
|
Other assets-other |
15,100.00 |
13,837.00 |
|
Other assets |
76,646.00 |
353,347.00 |
|
Assets |
3,132,014.00 |
2,004,442.00 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term loan |
368,000.00 |
386,800.00 |
|
Notes payable |
963.00 |
13,204.00 |
|
Accounts payable |
181,796.00 |
199,212.00 |
|
Accounts payable - related parties |
1,236.00 |
0.00 |
|
Income tax payable |
10,805.00 |
13,315.00 |
|
Accrued expenses |
89,958.00 |
39,651.00 |
|
Advance receipt |
100,029.00 |
60,176.00 |
|
A year or a operating cycle long term liabilities |
87,186.00 |
13,384.00 |
|
Other current liabilities |
32,290.00 |
30,489.00 |
|
Current liabilities |
872,263.00 |
756,231.00 |
|
Long term Liabilities |
|
|
|
Long-term borrowings |
827,039.00 |
238,153.00 |
|
Long-term liabilities |
827,039.00 |
238,153.00 |
|
Reserves |
|
|
|
Other Liabilities |
|
|
|
Pension reserve / accrued pension liability |
611.00 |
0.00 |
|
Guarantee deposits received |
605.00 |
0.00 |
|
Other liabilities-other |
0.00 |
6,184.00 |
|
Other liabilities |
1,216.00 |
6,184.00 |
|
Liabilities |
1,700,518.00 |
1,000,568.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
749,010.00 |
600,000.00 |
|
Capital Surplus |
|
|
|
Capital surplus - additional paid-in capital |
411,262.00 |
225,000.00 |
|
Capital surplus–treasury stock exchange |
3,555.00 |
31.00 |
|
Capital surplus - long-term equity investments |
0.00 |
29,831.00 |
|
Capital surplus-combined surplus |
29,831.00 |
0.00 |
|
Capital surplus–other |
0.00 |
0.00 |
|
Capital surplus |
444,648.00 |
254,862.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
25,980.00 |
25,424.00 |
|
Unappropriated retained earnings |
220,224.00 |
143,701.00 |
|
Retained earnings |
246,204.00 |
169,125.00 |
|
Stockholders' Equity and Other adjustmen |
|
|
|
Cumulative translation adjustments |
3,965.00 |
-1,286.00 |
|
Number of treasury stock |
-12,331.00 |
-18,827.00 |
|
Stockholders' Equity and Other adjustmen |
-8,366.00 |
-20,113.00 |
|
Stockholders' Equity |
1,431,496.00
(USD 47,955,116.00) |
1,003,874.00 (USD 33,629,779.00) |
|
Number of treasury stock acquired by the company
and subsidiaries (unit: share) |
950,997.00 |
1,451,997.00 |
|
Advanced shares (under items of stockholder's
equity) arranging public shares (unit: share) |
0.00 |
0.00 |
(As of 2012.07, 1 NTD =
0.0335 USD)
Unit: NTD/000
|
Date |
2011 |
2010 |
|
Sales |
1,726,912.00
(USD 57,851,552.00) |
1,515,450.00 (USD 50,767,575.00) |
|
Sales return |
45,065.00 |
43,869.00 |
|
Sales discounts and allowances |
8,265.00 |
287.00 |
|
Sales |
1,673,582.00 |
1,471,294.00 |
|
Labour service income |
53,398.00 |
45,799.00 |
|
Service income |
25,601.00 |
40,996.00 |
|
Labour service income |
78,999.00 |
86,795.00 |
|
Other operating income |
7,917.00 |
8,257.00 |
|
Operating income |
1,760,498.00 |
1,566,346.00 |
|
Cost of sales |
1,244,465.00 |
1,114,664.00 |
|
Operating costs |
1,244,465.00 |
1,114,664.00 |
|
Gross profit (loss) from operations |
516,033.00 |
451,682.00 |
|
Related companies realized income |
1,457.00 |
2,185.00 |
|
Selling expense |
262,363.00 |
257,477.00 |
|
General and administrative expenses |
73,643.00 |
41,103.00 |
|
Research and
Development expenses |
85,327.00 |
58,675.00 |
|
Operating expenses |
421,333.00 |
357,255.00 |
|
Operating income (loss) |
96,157.00 |
96,612.00 |
|
Non-Operating Income |
|
|
|
Interest income |
1,658.00 |
3,166.00 |
|
Investment income |
38,651.00 |
0.00 |
|
Income from equity investments under the equity
method |
38,651.00 |
0.00 |
|
Gains on disposal of fixed assets |
86.00 |
7.00 |
|
Foreign exchange gains |
16,628.00 |
0.00 |
|
Bad loan switch back gains |
0.00 |
0.00 |
|
Miscellaneous income |
4,622.00 |
10,687.00 |
|
Non-operating revenues and gains |
61,645.00 |
13,860.00 |
|
Non-Operating Expenses |
|
|
|
Interest expense |
22,225.00 |
13,814.00 |
|
Loss from equity investments under the equity
method |
0.00 |
63,216.00 |
|
Loss on investment |
0.00 |
63,216.00 |
|
Loss on disposal of fix assets |
31.00 |
408.00 |
|
Exchange loss |
0.00 |
23,854.00 |
|
Impairment loss on assets |
3,450.00 |
2,400.00 |
|
Miscellaneous disbursements |
1,017.00 |
1,046.00 |
|
Non-operating expenses and losses |
26,723.00 |
104,738.00 |
|
Income from continuing operations before income
tax |
131,079.00 |
5,734.00 |
|
Income tax expense (benefit) |
54,000.00 |
174.00 |
|
Income from continuing operations |
77,079.00 |
5,560.00 |
|
Net income (loss) |
77,079.00 (USD 2,582,146.50) |
5,560.00 (USD 186,260.00) |
|
Primary Earnings per Share |
|
|
|
Primary earnings per share |
1.21 |
0.09 |
|
Diluted earnings per share |
|
|
(As of 2012.07, 1 NTD =
0.0335 USD)
|
Date |
2011 |
2010 |
|
Net Income (Loss) |
77,079 |
5,560 |
|
Adjustments to Reconcile Net Income to Net Cash
Provided by (Used in) Operating Activities |
|
|
|
Depreciation Expense |
71,322 |
19,134 |
|
Amortization Expense |
8,004 |
7,680 |
|
Bad debt number(transfer to income) |
5,769 |
12,210 |
|
After-sale service and product warranty arrangement number (around) |
1,729 |
7,040 |
|
Loss (Gain) on Decline (Recovery) in Market
Value, Scrap and Obsolescence of Inventories |
46,202 |
21,616 |
|
Investment Loss (Income) Recognized under Equity
Method |
-38,651 |
63,217 |
|
Loss (Gain) on Disposal of Property, Plan and
Equipment |
-55 |
401 |
|
Impairment Losses on Financial Asset |
3,450 |
2,400 |
|
Realized loss (gain)in related company |
-1,457 |
-2,185 |
|
Loss (Gain) on Deferred Income Tax |
43,167 |
-13,354 |
|
Other Adjustments to Reconcile Net Income |
-222 |
-779 |
|
Changes in Operating Assets and Liabilities |
|
|
|
Decrease (Increase) in Notes Receivable |
-17,451 |
-20,645 |
|
Decrease (Increase) in Accounts Receivable |
29,312 |
-115,349 |
|
Decrease (Increase) in Accounts Receivable -
Related Parties |
4,031 |
68,153 |
|
Decrease (Increase) in Inventories |
-98,816 |
-123,561 |
|
Decrease (Increase) in advance payment |
5,749 |
8,508 |
|
Decrease (Increase) in Other Current Assets |
23,036 |
220 |
|
Increase (Decrease) in Accounts Payable |
-67,097 |
65,619 |
|
Increase (Decrease) in Income Tax Payable |
-2,510 |
1,552 |
|
Increase (Decrease) in Accrued Expenses |
37,764 |
10,546 |
|
Increase (Decrease) in Other Payable - Related
Parties |
0 |
0 |
|
Increase (Decrease) in account collected in
advance |
39,853 |
7,231 |
|
Increase (Decrease) in Other Current Liabilities |
-25,927 |
682 |
|
Net Cash Provided by (Used in) Operating
Activities |
144,281 |
25,896 |
|
Cash Flows from Investing Activities |
|
|
|
Acquisition of bond investment without market
price |
0 |
-6,424 |
|
Acquisition of Financial Assets Carried at Cost |
0 |
-6,000 |
|
Acquisition of Long-term Investments Accounted
for by Equity Method |
-35,000 |
-52,175 |
|
Acquisition of subsidiary corporation |
39,742 |
0 |
|
Returned reduction of stock capital by investment
company under Equity Method |
0 |
0 |
|
Purchase of Property, Plant and Equipment |
-61,846 |
-7,550 |
|
Proceeds from Disposal of Property, Plant and
Equipment |
644 |
512 |
|
Increase in Deferred Charges |
-5,887 |
-6,178 |
|
Other account receivable- Increase (Decrease) in
Related Parties |
28,505 |
-98,126 |
|
Purchase of Intangible Assets |
-4,285 |
0 |
|
Increase (Decrease) in other assets |
-6,185 |
8,974 |
|
Net Cash Provided by (Used in) Investing
Activities |
-44,312 |
-166,967 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in Short-term Loans |
-188,800 |
52,300 |
|
Proceeds from Long-term Debt |
112,688 |
93,085 |
|
Repayment of Long-term Debt |
0 |
0 |
|
Disposal of Treasury Stock |
10,020 |
225 |
|
Net Cash Provided by (Used in) Financing
Activities |
-66,092 |
145,610 |
|
Net Increase (Decrease) in Cash and Cash
Equivalents |
33,877 |
4,539 |
|
Cash and Cash Equivalents, Beginning of year |
87,771 |
83,232 |
|
Cash and Cash Equivalents, End of year |
121,648 |
87,771 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid |
21,727 |
13,468 |
|
Interest Paid- Excluding Capitalized Interest |
21,727 |
13,468 |
|
Income Tax Paid |
13,343 |
8,690 |
|
Investing Activities Non-affecting Both Cash and
Non-cash Items |
|
|
|
Long liabilities within a year |
87,186 |
13,384 |
Subject declined to disclose its bank details;
from other source we cannot obtain 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 |
Ms. Huang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.42 |
|
UK Pound |
1 |
Rs.86.04 |
|
Euro |
1 |
Rs.68.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.