MIRA INFORM REPORT

Report Date :

21.05.2012

IDENTIFICATION DETAILS

Name :	chih lien industrial co ltd
Registered Office :	No. 480, Chung Shing Road Sinwu, 327
Country :	Taiwan
Financials (as on) :	31.12.2011
Date of Incorporation :	03.09.1973
Legal Form :	Public Parent
Line of Business :	Manufacture of basic iron and steel and of ferro-alloys
No. of Employees :	269

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 31^st, 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 and address

Top of Form

Bottom of Form

Chih Lien Industrial Co Ltd

No. 480, Chung Shing Road
Sinwu, 327
Taiwan
Tel:	886-3-4772797
Fax:	886-3-4770875
www.chihlien.com.tw

Employees:

269

Company Type:

Public Parent

Corporate Family:

2 Companies

Traded:

Taiwan Stock Exchange:

2024

Incorporation Date:

03-Sep-1973

Auditor:

KPMG LLP

Financials in:	USD (mil)
Fiscal Year End:	31-Dec-2011
Reporting Currency:	Taiwanese New Dollar
Annual Sales:	80.5 ^1
Net Income:	4.2
Total Assets:	94.6 ^2
Market Value:	26.2
	(04-May-2012)

  Business Description

CHIH LIEN INDUSTRIAL CO., LTD. is a Taiwan-based company primarily engaged in the manufacture, processing and trading of steel wires and steel bars. The Company provides steel wires, including high-carbon steel wires, low-carbon steel wires, springs and annealed wires, which are applied in the manufacture of umbrellas, springs, steel cables, screws and sports apparatus, among others, as well as steel bars, including cutting steels, medium-carbon steels, alloy steels, stainless steels and polished rods, which are applied in manufacture of electronic, computer, bicycle, motorcycle and automobile components, as well as industrial tools and components. The Company is also engaged in the manufacture of rods as an original equipment manufacturer (OEM). CHIH LIEN INDUSTRIAL CO., LTD. is a Taiwan-based company primarily engaged in the manufacture, processing and trading of steel wires and steel bars. The Company provides steel wires, including high-carbon steel wires, low-carbon steel wires, springs and annealed wires, which are applied in manufacture of umbrellas, springs, steel cables, screws and sports apparatus, among others, as well as steel bar.

Industry

Industry	Iron and Steel
ANZSIC 2006:	2110 - Iron Smelting and Steel Manufacturing
NACE 2002:	2710 - Manufacture of basic iron and steel and of ferro-alloys
NAICS 2002:	331111 - Iron and Steel Mills
UK SIC 2003:	2710 - Manufacture of basic iron and steel and of ferro-alloys
US SIC 1987:	3312 - Steel Works, Blast Furnaces (Including Coke Ovens), and Rolling Mills

Key Executives

Name	Title
Chunxing Liu	Chairman of the Board, General Manager
Chun-Shin Liu	Chairman and General Manager
Ming Yuan Chiu	Manager-Finance
Shu Kun Hsu	Manager
Yuling Guo	Director

Significant Developments

Topic	#*	Most Recent Headline	Date
Dividends	1	Chih Lien Industrial Co Ltd Announces FY 2011 Dividend Payment	16-Mar-2012

* number of significant developments within the last 12 months

Financial Summary

As of 31-Dec-2011

Key Ratios	Company	Industry
Current Ratio (MRQ)	1.59	2.95
Quick Ratio (MRQ)	0.77	1.63
Debt to Equity (MRQ)	1.22	0.67
Sales 5 Year Growth	5.36	8.01
Net Profit Margin (TTM) %	5.07	0.49
Return on Assets (TTM) %	4.51	0.76
Return on Equity (TTM) %	11.14	-0.76

Stock Snapshot

Traded: Taiwan Stock Exchange: 2024

As of 4-May-2012

   Financials in: TWD

Recent Price	7.00	EPS	1.09
52 Week High	9.50	Price/Sales	0.32
52 Week Low	6.85	Price/Earnings	6.73
Avg. Volume (mil)	0.38	Price/Book	0.68
Market Value (mil)	766.85	Beta	1.02

	Price % Change	Rel S&P 500%
4 Week	-6.29%	-6.22%
13 Week	-12.94%	-13.24%
52 Week	-19.35%	-5.55%
Year to Date	-4.63%	-12.42%

1 - Profit & Loss Item Exchange Rate: USD 1 = TWD 29.39004
2 - Balance Sheet Item Exchange Rate: USD 1 = TWD 30.279

Corporate Overview

Location
No. 480, Chung Shing Road
Sinwu, 327
Taiwan

Tel:	886-3-4772797
Fax:	886-3-4770875

www.chihlien.com.tw

Quote Symbol - Exchange
2024 - Taiwan Stock Exchange
Sales TWD(mil):	2,364.9
Assets TWD(mil):	2,864.7
Employees:	269
Fiscal Year End:	31-Dec-2011

Industry:

Iron and Steel

Incorporation Date:	03-Sep-1973
Company Type:	Public Parent
Quoted Status:	Quoted

Chairman of the Board, General Manager:

Chunxing Liu

Company Web Links

Company Contact/E-mail

Corporate History/Profile

Home Page

Investor Relations

Products/Services

Contents Industry Codes Business Description Financial Data Market Data

Subsidiaries Key Corporate Relationships

Industry Codes

ANZSIC 2006 Codes:
2110	-	Iron Smelting and Steel Manufacturing

NACE 2002 Codes:
2732	-	Cold rolling of narrow strip
2710	-	Manufacture of basic iron and steel and of ferro-alloys

NAICS 2002 Codes:
331111	-	Iron and Steel Mills
331221	-	Rolled Steel Shape Manufacturing

US SIC 1987:
3312	-	Steel Works, Blast Furnaces (Including Coke Ovens), and Rolling Mills
3316	-	Cold-Rolled Steel Sheet, Strip, and Bars

UK SIC 2003:
2732	-	Cold rolling of narrow strip
2710	-	Manufacture of basic iron and steel and of ferro-alloys

Business Description

CHIH LIEN INDUSTRIAL CO., LTD. is a Taiwan-based company primarily engaged in the manufacture, processing and trading of steel wires and steel bars. The Company provides steel wires, including high-carbon steel wires, low-carbon steel wires, springs and annealed wires, which are applied in the manufacture of umbrellas, springs, steel cables, screws and sports apparatus, among others, as well as steel bars, including cutting steels, medium-carbon steels, alloy steels, stainless steels and polished rods, which are applied in manufacture of electronic, computer, bicycle, motorcycle and automobile components, as well as industrial tools and components. The Company is also engaged in the manufacture of rods as an original equipment manufacturer (OEM). CHIH LIEN INDUSTRIAL CO., LTD. is a Taiwan-based company primarily engaged in the manufacture, processing and trading of steel wires and steel bars. The Company provides steel wires, including high-carbon steel wires, low-carbon steel wires, springs and annealed wires, which are applied in manufacture of umbrellas, springs, steel cables, screws and sports apparatus, among others, as well as steel bar.

More Business Descriptions

Manufacture of high carbon steel wire, free cutting steel bar, wire rope and galvanised steel wire rope

Steel Wire & Steel Bar Mfr

Financial Data

Financials in:	TWD(mil)
Revenue:	2,364.9
Net Income:	122.0
Assets:	2,864.7
Long Term Debt:	570.3
Total Liabilities:	1,713.1
Working Capital:	0.2
Date of Financial Data:	31-Dec-2011

1 Year Growth

5.2%

-3.6%

16.6%

Market Data

Quote Symbol:	2024
Exchange:	Taiwan Stock Exchange
Currency:	TWD
Stock Price:	7.0
Stock Price Date:	05-04-2012
52 Week Price Change %:	-19.4
Market Value (mil):	766,850.0
SEDOL:	6191890
ISIN:	TW0002024007
Equity and Dept Distribution:
11/2005, 62.22-for-100 reverse stock split. WAS for FY'06 is estimated. FY'07 H1 B/S is CLA. FY'09 Q3 B/S is being CLA.

Subsidiaries

Company	Percentage Owned	Country
Tai Union Inc	69%	BRITISH VIRGIN ISLANDS
Chin Lien Steel Wire Rope (Dong Guan) Co Ltd	69%	PEOPLE'S REPUBLIC OF CHINA

Key Corporate Relationships

Auditor:	KPMG LLP
Auditor:	KPMG LLP, KPMG

Top

Corporate Structure News

Chih Lien Industrial Co Ltd
Total Corporate Family Members: 2

Company Name	Company Type	Location	Country	Industry	Sales (USD mil)	Employees
Chih Lien Industrial Co Ltd	Parent	Sinwu	Taiwan	Iron and Steel	80.5	269
Chih Lien Industrial Co., Ltd. - Dong Guan Factory	Facility	Dongguan, Guangdong	China	Iron and Steel		96

Executives Report

Board of Directors

Name	Title	Function
Chunxing Liu	Chairman of the Board, General Manager	Chairman
Biography Liu Chunxing has been General Manager in Chih Lien Industrial Co Ltd since April 1, 2002 and Chairman of the Board since June 19, 2009. Liu is also Chairman of the Board in six other companies, as well as Director in another company. Compensation/Salary:650,000 Compensation Currency: TWD
Yuling Guo	Director	Director/Board Member
Zhenghua Li	Director	Director/Board Member
Xin'an Lin	Director	Director/Board Member
Biography Lin Xin'an has been Director in Chih Lien Industrial Co Ltd since June 19, 2009. Lin is also General Manager in another company.
Chenwang Xie	Deputy General Manager, Director	Director/Board Member

Executives

Name	Title	Function
Chun-Shin Liu	Chairman and General Manager	Division Head Executive
Chunxing Liu	Chairman of the Board, General Manager	Division Head Executive
Biography Liu Chunxing has been General Manager in Chih Lien Industrial Co Ltd since April 1, 2002 and Chairman of the Board since June 19, 2009. Liu is also Chairman of the Board in six other companies, as well as Director in another company. Compensation/Salary:650,000 Compensation Currency: TWD
Ming Yuan Chiu	Manager-Finance	Finance Executive
Shu Kun Hsu	Manager	Other

Significant Developments

Chih Lien Industrial Co Ltd Announces FY 2011 Dividend Payment

Mar 16, 2012

Chih Lien Industrial Co Ltd announced that it will pay a cash dividend of NTD 0.15 per share, or NTD 16,432,500 in total to shareholders for fiscal year 2011.

Annual Income Statement

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Reclassified Normal 31-Dec-2009	Updated Normal 31-Dec-2007
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	29.39004	31.497037	33.023867	31.543497	32.848802
Auditor	KPMG LLP	KPMG Peat Marwick LLP	KPMG Peat Marwick LLP	KPMG LLP	KPMG LLP
Auditor Opinion	Unqualified	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified
Net Sales	2.6	2.2	1.1	2.1	1.9
Gross Revenue	78.3	69.7	43.2	66.6	58.7
Sales Returns and Allowances	-0.5	-0.5	-0.6	-0.5	-0.7
Revenue	80.5	71.4	43.7	68.3	59.9
Total Revenue	80.5	71.4	43.7	68.3	59.9
Cost of Revenue	71.5	63.2	48.1	61.2	55.9
Cost of Revenue, Total	71.5	63.2	48.1	61.2	55.9
Gross Profit	9.0	8.2	-4.4	7.0	4.0
Selling/General/Administrative Expense	4.0	3.4	2.5	3.6	3.1
Total Selling/General/Administrative Expenses	4.0	3.4	2.5	3.6	3.1
Impairment-Assets Held for Use	0.0	-0.6	-	-	-
Impairment-Assets Held for Sale	0.0	0.0	0.0	0.1	0.1
Unusual Expense (Income)	0.0	-0.6	0.0	0.1	0.1
Total Operating Expense	75.4	66.0	50.6	64.9	59.1
Operating Income	5.0	5.4	-7.0	3.4	0.9
Interest Expense - Non-Operating	-1.1	-1.1	-1.3	-1.7	-1.7
Interest Expense, Net Non-Operating	-1.1	-1.1	-1.3	-1.7	-1.7
Interest Income - Non-Operating	0.0	0.0	0.0	0.1	0.0
Investment Income - Non-Operating	-0.1	0.0	-0.1	-0.6	-0.1
Interest/Investment Income - Non-Operating	-0.1	0.0	-0.1	-0.5	-0.1
Interest Income (Expense) - Net Non-Operating Total	-1.3	-1.0	-1.4	-2.2	-1.8
Gain (Loss) on Sale of Assets	0.0	0.0	0.0	0.0	0.0
Other Non-Operating Income (Expense)	0.2	0.0	0.0	0.3	0.6
Other, Net	0.2	0.0	0.0	0.3	0.6
Income Before Tax	3.9	4.3	-8.3	1.5	-0.4
Total Income Tax	-0.1	-0.1	-0.1	0.3	0.1
Income After Tax	4.1	4.4	-8.2	1.2	-0.4
Minority Interest	0.1	-0.4	0.5	-0.1	0.1
Net Income Before Extraord Items	4.2	4.0	-7.7	1.1	-0.3
Net Income	4.2	4.0	-7.7	1.1	-0.3
Income Available to Common Excl Extraord Items	4.2	4.0	-7.7	1.1	-0.3
Income Available to Common Incl Extraord Items	4.2	4.0	-7.7	1.1	-0.3
Basic/Primary Weighted Average Shares	111.8	111.9	111.9	111.9	111.9
Basic EPS Excl Extraord Items	0.04	0.04	-0.07	0.01	0.00
Basic/Primary EPS Incl Extraord Items	0.04	0.04	-0.07	0.01	0.00
Dilution Adjustment	0.0	0.0	0.0	-	0.0
Diluted Net Income	4.2	4.0	-7.7	1.1	-0.3
Diluted Weighted Average Shares	111.8	111.9	111.9	112.0	111.9
Diluted EPS Excl Extraord Items	0.04	0.04	-0.07	0.01	0.00
Diluted EPS Incl Extraord Items	0.04	0.04	-0.07	0.01	0.00
Dividends per Share - Common Stock Primary Issue	-	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	-	0.0	0.0	0.0	0.0
Interest Expense, Supplemental	1.1	1.1	1.3	1.7	1.7
Depreciation, Supplemental	2.5	2.4	2.9	3.4	3.2
Total Special Items	0.0	-0.6	0.0	0.1	0.1
Normalized Income Before Tax	3.9	3.8	-8.3	1.6	-0.3
Effect of Special Items on Income Taxes	0.0	-0.2	0.0	0.0	0.0
Inc Tax Ex Impact of Sp Items	-0.1	-0.2	-0.1	0.3	0.1
Normalized Income After Tax	4.1	4.0	-8.2	1.3	-0.4
Normalized Inc. Avail to Com.	4.2	3.6	-7.6	1.2	-0.3
Basic Normalized EPS	0.04	0.03	-0.07	0.01	0.00
Diluted Normalized EPS	0.04	0.03	-0.07	0.01	0.00
Amort of Intangibles, Supplemental	0.1	0.0	0.1	0.1	0.1
Normalized EBIT	5.0	4.8	-6.9	3.4	0.9
Normalized EBITDA	7.6	7.3	-4.0	6.9	4.3
Current Tax - Total	0.0	-	0.0	0.3	0.0
Current Tax - Total	0.0	-	0.0	0.3	0.0
Deferred Tax - Total	-0.1	-0.1	-0.1	0.0	0.1
Deferred Tax - Total	-0.1	-0.1	-0.1	0.0	0.1
Income Tax - Total	-0.1	-0.1	-0.1	0.3	0.1
Interest Cost - Domestic	0.0	0.0	0.0	0.0	0.0
Service Cost - Domestic	0.0	0.1	0.0	0.1	0.1
Expected Return on Assets - Domestic	0.0	0.0	0.0	0.0	0.0
Transition Costs - Domestic	0.0	0.1	0.0	0.0	0.0
Domestic Pension Plan Expense	0.1	0.1	0.1	0.1	0.1
Total Pension Expense	0.1	0.1	0.1	0.1	0.1
Discount Rate - Domestic	2.00%	2.25%	2.25%	2.25%	3.25%
Expected Rate of Return - Domestic	2.00%	2.25%	2.25%	2.25%	3.25%
Compensation Rate - Domestic	1.00%	1.00%	1.00%	1.00%	1.00%
Total Plan Interest Cost	0.0	0.0	0.0	0.0	0.0
Total Plan Service Cost	0.0	0.1	0.0	0.1	0.1
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-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Reclassified Normal 31-Dec-2010	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate	30.279	29.1565	31.985	32.818	32.4345
Auditor	KPMG LLP	KPMG Peat Marwick LLP	KPMG Peat Marwick LLP	KPMG LLP	KPMG LLP
Auditor Opinion	Unqualified	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified
Cash & Equivalents	5.2	2.7	1.8	1.8	3.0
Short Term Investments	0.1	0.0	0.0	0.0	0.1
Cash and Short Term Investments	5.2	2.7	1.8	1.9	3.0
Accounts Receivable - Trade, Gross	8.3	9.5	7.7	5.2	10.4
Provision for Doubtful Accounts	-0.1	-0.3	-0.6	-0.6	-0.5
Trade Accounts Receivable - Net	8.9	9.7	7.5	4.9	10.3
Notes Receivable - Short Term	4.9	4.7	2.0	1.5	3.1
Other Receivables	0.0	0.0	0.0	-	-
Total Receivables, Net	13.7	14.4	9.5	6.4	13.4
Inventories - Finished Goods	9.1	8.2	4.0	6.6	3.7
Inventories - Work In Progress	0.6	0.5	0.3	0.6	0.3
Inventories - Raw Materials	17.3	13.7	5.2	21.4	9.0
Inventories - Other	-	-	-	-3.6	-0.1
Total Inventory	27.1	22.4	9.5	25.0	13.0
Prepaid Expenses	1.7	0.5	0.1	0.6	0.2
Restricted Cash - Current	-	3.6	3.2	6.7	3.4
Other Current Assets	4.8	0.3	0.2	-	-
Other Current Assets, Total	4.8	3.8	3.4	6.7	3.4
Total Current Assets	52.6	43.7	24.2	40.6	33.1
Buildings	15.0	15.3	14.6	14.3	14.0
Land/Improvements	22.2	23.1	21.0	20.5	20.7
Machinery/Equipment	26.4	24.4	27.1	27.0	29.9
Construction in Progress	2.2	0.1	2.0	0.7	0.2
Property/Plant/Equipment - Gross	65.7	62.8	64.7	62.5	64.8
Accumulated Depreciation	-25.4	-23.9	-28.4	-25.5	-26.4
Property/Plant/Equipment - Net	40.3	38.9	36.3	36.9	38.4
Goodwill, Net	0.0	0.0	0.0	0.0	0.0
Intangibles, Net	1.5	1.5	1.4	1.4	1.4
LT Investments - Other	-	0.0	0.0	0.2	0.3
Long Term Investments	-	0.0	0.0	0.2	0.3
Pension Benefits - Overfunded	0.0	0.0	0.0	0.0	0.0
Other Long Term Assets	0.2	0.1	0.0	0.3	0.1
Other Long Term Assets, Total	0.2	0.1	0.0	0.3	0.1
Total Assets	94.6	84.3	62.0	79.5	73.2
Accounts Payable	3.2	4.1	1.8	3.5	3.4
Accrued Expenses	1.7	1.7	0.9	1.4	1.3
Notes Payable/Short Term Debt	23.0	15.6	15.6	26.9	20.5
Current Portion - Long Term Debt/Capital Leases	4.4	5.8	2.6	2.0	2.7
Other Payables	0.5	0.0	0.0	-	-
Other Current Liabilities	0.3	0.3	0.3	-	-
Other Current liabilities, Total	0.8	0.3	0.3	-	-
Total Current Liabilities	33.1	27.5	21.3	33.8	27.9
Long Term Debt	18.8	16.9	7.9	5.2	6.4
Capital Lease Obligations	-	-	-	0.0	0.1
Total Long Term Debt	18.8	16.9	7.9	5.2	6.4
Total Debt	46.3	38.3	26.1	34.1	29.7
Deferred Income Tax - LT Liability	0.2	0.4	0.5	0.6	0.4
Deferred Income Tax	0.2	0.4	0.5	0.6	0.4
Minority Interest	2.9	2.7	2.5	3.0	2.8
Pension Benefits - Underfunded	1.6	1.1	1.0	0.9	0.7
Other Liabilities, Total	1.6	1.1	1.0	0.9	0.7
Total Liabilities	56.6	48.6	33.2	43.5	38.3
Common Stock	36.2	38.4	35.0	34.1	34.5
Common Stock	36.2	38.4	35.0	34.1	34.5
Additional Paid-In Capital	0.2	-	-	-	-
Retained Earnings (Accumulated Deficit)	0.8	-3.3	-7.0	0.9	-0.2
Translation Adjustment	1.8	1.1	1.2	1.3	0.9
Minimum Pension Liability Adjustment	-0.9	-0.4	-0.4	-0.3	-0.2
Other Equity, Total	0.8	0.6	0.8	1.0	0.7
Total Equity	38.0	35.7	28.8	35.9	34.9
Total Liabilities & Shareholders’ Equity	94.6	84.3	62.0	79.5	73.2
Shares Outstanding - Common Stock Primary Issue	111.9	111.9	111.9	111.9	111.9
Total Common Shares Outstanding	111.9	111.9	111.9	111.9	111.9
Treasury Shares - Common Stock Primary Issue	0.0	0.0	0.0	0.0	0.0
Employees	269	239	241	254	257
Number of Common Shareholders	-	11,526	11,589	12,376	10,795
Total Long Term Debt, Supplemental	23.3	22.7	10.5	7.1	8.9
Long Term Debt Maturing within 1 Year	4.4	5.8	2.6	1.9	2.5
Long Term Debt Maturing in Year 2	14.3	7.5	7.9	3.2	1.9
Long Term Debt Maturing in Year 3	2.6	4.7	-	1.9	2.5
Long Term Debt Maturing in Year 4	1.9	2.7	-	0.0	2.0
Long Term Debt Maturing in 2-3 Years	16.9	12.2	7.9	5.1	4.4
Long Term Debt Maturing in 4-5 Years	1.9	2.7	-	0.0	2.0
Long Term Debt Matur. in Year 6 & Beyond	0.0	2.0	0.0	0.0	0.0
Interest Costs	-	-	-	-	0.0
Total Capital Leases, Supplemental	-	-	-	-	0.3
Capital Lease Payments Due in Year 1	-	-	-	-	0.2
Capital Lease Payments Due in Year 2	-	-	-	-	0.1
Capital Lease Payments Due in 2-3 Years	-	-	-	-	0.1
Pension Obligation - Domestic	2.5	2.0	1.8	1.5	1.4
Plan Assets - Domestic	0.8	0.8	0.6	0.6	0.6
Funded Status - Domestic	-1.7	-1.2	-1.1	-1.0	-0.8
Accumulated Obligation - Domestic	2.4	1.9	1.7	1.4	1.3
Total Funded Status	-1.7	-1.2	-1.1	-1.0	-0.8
Discount Rate - Domestic	2.00%	2.25%	2.25%	2.25%	3.25%
Expected Rate of Return - Domestic	2.00%	2.25%	2.25%	2.25%	3.25%
Compensation Rate - Domestic	1.00%	1.00%	1.00%	1.00%	1.00%
Prepaid Benefits - Domestic	-	0.0	0.0	0.0	0.0
Accrued Liabilities - Domestic	-1.6	-1.1	-1.0	-0.9	-0.7
Net Assets Recognized on Balance Sheet	-1.6	-1.1	-1.0	-0.8	-0.7
Total Plan Obligations	2.5	2.0	1.8	1.5	1.4
Total Plan Assets	0.8	0.8	0.6	0.6	0.6

Annual Cash Flows

Financials in: USD (mil)

Financial Glossary

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	29.39004	31.497037	33.023867	31.543497	32.848802
Auditor	KPMG LLP	KPMG Peat Marwick LLP	KPMG Peat Marwick LLP	KPMG LLP	KPMG LLP
Auditor Opinion	Unqualified	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified
Net Income/Starting Line	4.1	4.4	-8.2	1.2	-0.4
Depreciation	2.5	2.4	2.9	3.4	3.3
Depreciation/Depletion	2.5	2.4	2.9	3.4	3.3
Amortization of Intangibles	0.1	0.0	0.1	0.1	0.1
Amortization	0.1	0.0	0.1	0.1	0.1
Deferred Taxes	-0.1	-0.1	-0.1	0.0	0.1
Unusual Items	0.0	-0.6	0.0	0.1	0.1
Other Non-Cash Items	-0.3	-0.9	-2.3	4.2	0.2
Non-Cash Items	-0.3	-1.5	-2.3	4.3	0.2
Accounts Receivable	0.3	-3.3	-2.8	7.1	-4.9
Inventories	-5.6	-10.5	18.3	-16.4	-0.1
Prepaid Expenses	-1.3	-0.4	0.4	-0.4	0.0
Other Assets	-0.1	0.0	0.0	0.1	0.0
Accounts Payable	-0.7	1.9	-1.4	0.0	0.3
Accrued Expenses	0.1	0.6	-0.2	0.2	0.2
Other Liabilities	0.6	-0.2	0.1	0.1	0.1
Changes in Working Capital	-6.8	-11.9	14.3	-9.4	-4.3
Cash from Operating Activities	-0.6	-6.6	6.7	-0.4	-1.2
Purchase of Fixed Assets	-4.8	-1.3	-1.5	-2.0	-0.5
Capital Expenditures	-4.8	-1.3	-1.5	-2.0	-0.5
Sale of Fixed Assets	0.0	0.0	0.0	0.0	0.0
Other Investing Cash Flow	-0.9	-0.2	3.6	-4.1	-1.1
Other Investing Cash Flow Items, Total	-0.9	-0.2	3.6	-4.1	-1.1
Cash from Investing Activities	-5.7	-1.4	2.1	-6.1	-1.7
Other Financing Cash Flow	0.0	-0.4	-0.6	0.5	-0.3
Financing Cash Flow Items	0.0	-0.4	-0.6	0.5	-0.3
Sale/Issuance of Common	-	-	-	0.0	1.8
Repurchase/Retirement of Common	-0.6	-	-	-	-
Common Stock, Net	-0.6	-	-	0.0	1.8
Issuance (Retirement) of Stock, Net	-0.6	-	-	0.0	1.8
Short Term Debt Issued	2.4	-	-	-	-
Short Term Debt, Net	7.7	-1.3	-11.0	6.5	5.6
Long Term Debt Issued	8.2	12.3	3.6	-	0.0
Long Term Debt Reduction	-6.7	-1.9	-0.9	-1.7	-2.4
Long Term Debt, Net	1.5	10.4	2.7	-1.9	-2.6
Issuance (Retirement) of Debt, Net	9.2	9.1	-8.3	4.5	3.0
Cash from Financing Activities	8.6	8.8	-8.9	5.1	4.5
Foreign Exchange Effects	0.4	-0.1	-0.1	0.4	0.2
Net Change in Cash	2.7	0.7	-0.1	-1.1	1.9
Net Cash - Beginning Balance	2.6	1.8	1.8	3.0	1.0
Net Cash - Ending Balance	5.3	2.5	1.7	1.9	2.9
Cash Interest Paid	1.1	1.1	1.3	1.7	1.8
Cash Taxes Paid	0.0	0.0	0.0	0.3	0.0

Annual Income Statement

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Reclassified Normal 31-Dec-2009	Updated Normal 31-Dec-2007
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	29.39004	31.497037	33.023867	31.543497	32.848802
Auditor	KPMG LLP	KPMG Peat Marwick LLP	KPMG Peat Marwick LLP	KPMG LLP	KPMG LLP
Auditor Opinion	Unqualified	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified
Gross Sales	78.3	69.7	43.2	66.6	58.7
Sales Returns	-0.1	-0.1	-0.1	-0.1	-0.2
Sales Discounts	-0.4	-0.4	-0.5	-0.3	-0.5
Processing Revenues	2.6	2.2	1.1	2.1	1.9
Total Revenue	80.5	71.4	43.7	68.3	59.9
Cost of Sales	71.5	63.2	48.1	61.2	56.0
Gain from Revaluation of Inventory	-	-	-	-	-0.1
Inventory Devaluation & Obsolescence	-	-	-	-	0.0
Gain/Loss on Physical Inventory	-	-	-	-	0.0
Selling Expenses	1.9	1.4	1.1	2.1	1.8
General and Administrative Expenses	2.1	2.0	1.5	1.6	1.3
Impairment Loss	0.0	0.0	0.0	0.1	0.1
Gain on Reversal of Impairment Loss	0.0	-0.6	-	-	-
Total Operating Expense	75.4	66.0	50.6	64.9	59.1
Interest Income	0.0	0.0	0.0	0.1	0.0
Gain on Sale of Fixed Assets	0.0	-	-	-	0.0
Gain/Loss on Foreign Exchange	-0.1	0.0	0.1	-0.6	-0.1
Miscellaneous Income	0.3	0.1	0.1	0.5	0.8
Interest Expense	-1.1	-1.1	-1.3	-1.7	-1.7
Revaluation Loss on Fin. Liabilities	0.0	0.0	-	-	-
Loss on Sale of Fixed Assets	-	0.0	0.0	0.0	0.0
Other Investment Loss	-	0.0	-0.1	0.0	-
Miscellaneous Disbursements	-0.1	-0.1	-0.1	-0.2	-0.2
Net Income Before Taxes	3.9	4.3	-8.3	1.5	-0.4
Provision for Income Taxes	-0.1	-0.1	-0.1	0.3	0.1
Net Income After Taxes	4.1	4.4	-8.2	1.2	-0.4
Minority Interests	0.1	-0.4	0.5	-0.1	0.1
Net Income Before Extra. Items	4.2	4.0	-7.7	1.1	-0.3
Net Income	4.2	4.0	-7.7	1.1	-0.3
Income Available to Com Excl ExtraOrd	4.2	4.0	-7.7	1.1	-0.3
Income Available to Com Incl ExtraOrd	4.2	4.0	-7.7	1.1	-0.3
Basic Weighted Average Shares	111.8	111.9	111.9	111.9	111.9
Basic EPS Excluding ExtraOrdinary Items	0.04	0.04	-0.07	0.01	0.00
Basic EPS Including ExtraOrdinary Items	0.04	0.04	-0.07	0.01	0.00
Dilution Adjustment	0.0	0.0	0.0	-	0.0
Diluted Net Income	4.2	4.0	-7.7	1.1	-0.3
Diluted Weighted Average Shares	111.8	111.9	111.9	112.0	111.9
Diluted EPS Excluding ExtraOrd Items	0.04	0.04	-0.07	0.01	0.00
Diluted EPS Including ExtraOrd Items	0.04	0.04	-0.07	0.01	0.00
DPS-Ordinary Stock	-	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	-	0.0	0.0	0.0	0.0
Normalized Income Before Taxes	3.9	3.8	-8.3	1.6	-0.3
Inc Tax Ex Impact of Sp Items	-0.1	-0.2	-0.1	0.3	0.1
Normalized Income After Taxes	4.1	4.0	-8.2	1.3	-0.4
Normalized Inc. Avail to Com.	4.2	3.6	-7.6	1.2	-0.3
Basic Normalized EPS	0.04	0.03	-0.07	0.01	0.00
Diluted Normalized EPS	0.04	0.03	-0.07	0.01	0.00
Interest Expense, Supplemental	1.1	1.1	1.3	1.7	1.7
Depreciation - Operating Cost	2.4	2.4	2.8	3.3	3.2
Depreciation - Operating Expense	0.1	0.1	0.1	0.1	0.1
Amortization - Operating Cost	0.0	0.0	0.0	0.0	0.0
Amortization - Operating Expense	0.0	0.0	0.0	0.0	0.1
Current Tax	0.0	-	0.0	0.3	0.0
Current Tax - Total	0.0	-	0.0	0.3	0.0
Deferred Tax	-0.1	-0.1	-0.1	0.0	0.1
Deferred Tax - Total	-0.1	-0.1	-0.1	0.0	0.1
Income Tax - Total	-0.1	-0.1	-0.1	0.3	0.1
Service Cost	0.0	0.1	0.0	0.1	0.1
Interest Cost	0.0	0.0	0.0	0.0	0.0
Expected Return on Plan Assets	0.0	0.0	0.0	0.0	0.0
Amort. of Transition Cost	0.0	0.1	0.0	0.0	0.0
Domestic Pension Plan Expense	0.1	0.1	0.1	0.1	0.1
Total Pension Expense	0.1	0.1	0.1	0.1	0.1
Discount Rate	2.00%	2.25%	2.25%	2.25%	3.25%
Rate of Compensation Increase	1.00%	1.00%	1.00%	1.00%	1.00%
Expected Return on Plan Assets	2.00%	2.25%	2.25%	2.25%	3.25%

Annual Balance Sheet

Financials in: USD (mil)

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Reclassified Normal 31-Dec-2010	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate	30.279	29.1565	31.985	32.818	32.4345
Auditor	KPMG LLP	KPMG Peat Marwick LLP	KPMG Peat Marwick LLP	KPMG LLP	KPMG LLP
Auditor Opinion	Unqualified	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified
Cash and Cash Equivalent	5.2	2.7	1.8	1.8	3.0
Notes Receivable	4.3	4.1	2.0	1.5	3.1
Notes Receivable - Related Parties	0.5	0.6	0.0	0.1	0.0
Accounts Receivable, Gross	8.3	9.5	7.7	5.2	10.4
Provision for Doubtful Accounts	-0.1	-0.3	-0.6	-0.6	-0.5
Accounts Receivable - Related Parties	0.6	0.4	0.3	0.3	0.4
Other Receivables - Related Parties	0.0	0.0	0.0	-	-
Other Financial Assets - Current	0.1	0.0	0.0	0.0	0.1
Raw Material	17.3	13.6	5.2	21.4	8.9
Supplies	0.1	0.1	0.1	0.1	0.1
Work-in-Process	0.6	0.5	0.3	0.6	0.3
Finished Goods	7.6	5.4	3.6	6.6	3.7
Merchandise	0.0	0.0	-	-	-
Goods Purchased	-	-	0.0	0.0	0.0
Goods in Transit	1.5	2.8	0.4	-	-
Provision/Allowance for Inventory	-	-	-	-3.6	-0.1
Restricted Assets	-	3.6	3.2	6.7	3.4
Prepayment & Other Current Assets	-	-	-	0.6	0.2
Other Current Assets	4.8	0.3	0.2	-	-
Prepaid Expenses	0.1	0.3	0.1	-	-
Prepayment	1.6	0.2	0.0	-	-
Total Current Assets	52.6	43.7	24.2	40.6	33.1
Financial Assets -Cost Method	-	0.0	0.0	0.2	0.3
Land and Improvements	22.2	23.1	21.0	20.5	20.7
Buildings and Structures	15.0	15.3	14.6	14.3	14.0
Machinery and Equipment	20.9	19.4	21.5	21.9	23.1
Environmental Equipment	1.7	1.6	1.7	1.7	2.0
Transportation Equipment	0.5	0.2	0.2	0.2	1.5
Office Equipment	0.0	0.0	0.2	0.4	0.4
Miscellaneous Equipment	3.2	3.2	3.4	2.7	2.9
Accumulated Depreciation	-25.2	-23.7	-27.1	-24.3	-25.1
Provision for Impairment of Fixed Assets	-0.2	-0.2	-1.3	-1.2	-1.3
Constr. in Progress & Prepay for Equip.	2.2	0.1	2.0	0.7	0.2
Goodwill	0.0	0.0	0.0	0.0	0.0
Deferred Pension Cost	0.0	0.0	0.0	0.0	0.0
Land Use Right	1.5	1.5	1.4	1.4	1.4
Idle Assets	-	-	-	0.0	0.0
Other Long Term Assets	0.2	0.1	0.0	0.3	0.0
Total Assets	94.6	84.3	62.0	79.5	73.2
Short Term Borrowings	19.6	15.0	14.9	25.9	19.9
Short Term Notes & Bills Payable	2.3	-	-	-	-
Current Portion of Long Term Debt	4.4	5.8	2.6	1.9	2.5
Notes Payable	1.1	0.6	0.7	0.4	0.5
Notes Payable - Related Parties	-	-	-	-	0.0
Other Notes Payable - Related Parties	-	-	-	0.6	0.1
Accounts Payable	3.2	4.1	1.4	3.5	3.4
Accounts Payable - Related Parties	-	0.0	0.4	-	-
Current Portion of Lease Payment	-	-	-	0.1	0.2
Accrued Expenses & Other Current Liab.	-	-	-	1.4	1.3
Accrued Expenses	1.7	1.7	0.9	-	-
Other Payables	0.5	0.0	0.0	-	-
Other Current Liabilities	0.3	0.3	0.3	-	-
Total Current Liabilities	33.1	27.5	21.3	33.8	27.9
Long Term Borrowings	18.8	16.9	7.9	5.2	6.4
Lease Payable	-	-	-	0.0	0.1
Total Long Term Debt	18.8	16.9	7.9	5.2	6.4
Accrued Pension Liabilities	1.6	1.1	1.0	0.9	0.7
Deferred Tax Liabilities	0.2	0.4	0.5	0.6	0.4
Minority Interest	2.9	2.7	2.5	3.0	2.8
Total Liabilities	56.6	48.6	33.2	43.5	38.3
Common Stock	36.2	38.4	35.0	34.1	34.5
Legal Reserve	0.0	0.0	0.1	0.1	0.1
Special Reserve	-	0.0	0.2	0.2	0.2
Retained Earnings	0.8	-3.3	-7.3	0.6	-0.5
Cumulative Translation Adjustment	1.8	1.1	1.2	1.3	0.9
Unrealized Gain/Loss on Pension Fund	-0.9	-0.4	-0.4	-0.3	-0.2
Cap. Surplus, Treasury Stock Transaction	0.2	-	-	-	-
Total Equity	38.0	35.7	28.8	35.9	34.9
Total Liabilities & Shareholders' Equity	94.6	84.3	62.0	79.5	73.2
S/O-Ordinary Stock	111.9	111.9	111.9	111.9	111.9
Total Common Shares Outstanding	111.9	111.9	111.9	111.9	111.9
T/S-Ordinary Stock	0.0	0.0	0.0	0.0	0.0
Full-Time Employees	269	239	241	254	257
Number of Common Shareholders	-	11,526	11,589	12,376	10,795
Long Term Debt due in 1 year	4.4	5.8	2.6	1.9	2.5
Long Term Debt due in 2 years	14.3	7.5	7.9	3.2	1.9
Long Term Debt due in 3 years	2.6	4.7	-	1.9	2.5
Long Term Debt due in 4 years	1.9	2.7	-	0.0	2.0
Long Term Debt due after 5 years	-	2.0	-	-	-
Total Long Term Debt, Supplemental	23.3	22.7	10.5	7.1	8.9
Capital Lease due in 1 year	-	-	-	-	0.2
Capital Lease due in 2 years	-	-	-	-	0.1
Interest Costs	-	-	-	-	0.0
Total Capital Leases	-	-	-	-	0.3
Accumulated Benefit Obligation	2.4	1.9	1.7	1.4	1.3
Projected Benefit Obligation	2.5	2.0	1.8	1.5	1.4
Fair Value of Plan Assets	0.8	0.8	0.6	0.6	0.6
Funed Status	-1.7	-1.2	-1.1	-1.0	-0.8
Total Funded Status	-1.7	-1.2	-1.1	-1.0	-0.8
Discount Rate	2.00%	2.25%	2.25%	2.25%	3.25%
Rate of Compensation Increase	1.00%	1.00%	1.00%	1.00%	1.00%
Expected Return on Plan Assets	2.00%	2.25%	2.25%	2.25%	3.25%
Deferred Pension Cost	-	0.0	0.0	0.0	0.0
Accrued Pension Liabilities	-1.6	-1.1	-1.0	-0.9	-0.7
Net Assets Recognized on Balance Sheet	-1.6	-1.1	-1.0	-0.8	-0.7

Annual Cash Flows

Financials in: USD (mil)

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	29.39004	31.497037	33.023867	31.543497	32.848802
Auditor	KPMG LLP	KPMG Peat Marwick LLP	KPMG Peat Marwick LLP	KPMG LLP	KPMG LLP
Auditor Opinion	Unqualified	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified
Net Income	4.1	4.4	-8.2	1.2	-0.4
Depreciation	2.5	2.4	2.9	3.4	3.3
Amortization of Intangibles	0.1	0.0	0.1	0.1	0.1
Provision of Bad Debts	-0.2	-0.4	0.1	0.6	0.2
Gain/Loss Inventory Devaluation	-0.1	-0.5	-2.6	3.7	-0.1
Other Investment Loss	-	0.0	0.1	0.0	-
Other Expense-Fixed Assets	0.0	0.0	0.0	0.0	0.0
Gain/Loss on Disposal of Properties	-	0.0	0.0	0.0	0.0
Deferred Tax	-0.1	-0.1	-0.1	0.0	0.1
Provision for Impairment Loss	0.0	-0.6	0.0	0.1	0.1
Gain/Loss on Disposal of Fixed Assets	0.0	-	-	-	-
Notes & Accounts Receivable	-	-	-2.8	7.1	-4.9
Other Receivables-Related Parties	0.0	0.0	-	-	-
Inventories	-5.6	-10.5	18.3	-16.4	-0.1
Other Financial Assets	-0.1	0.0	0.0	0.1	0.0
Prepayment & Other Current Assets	-	-	0.4	-0.4	0.0
Other Current Assets	0.0	0.0	-	-	-
Notes & Accounts Payable	-	-	-1.4	0.0	0.3
Accrued Expenses & Other Current Liab.	-	-	-0.2	0.2	0.2
Accrued Pension Liabilities	0.0	0.0	0.1	0.1	0.1
Notes Receivable	-0.4	-1.8	-	-	-
Notes Receivable-Related Parties	0.0	-0.5	-	-	-
Accounts Receivable	0.9	-1.0	-	-	-
Accounts Receivable-Related Parties	-0.2	-0.1	-	-	-
Prepaid Expense	0.2	-0.2	-	-	-
Prepayment	-1.5	-0.2	-	-	-
Notes Payable	0.5	-0.1	-	-	-
Accounts Payable	-0.8	2.3	-	-	-
Accounts Payable,Related Parties	0.0	-0.4	-	-	-
Other Payables	0.1	0.0	-	-	-
Accrued Expenses	0.1	0.6	-	-	-
Other Current Liabilities	0.1	0.0	-	-	-
Cash from Operating Activities	-0.6	-6.6	6.7	-0.4	-1.2
Capital Reduction in Investee Company	-	-	-	0.0	0.1
Capital Expenditure	-4.8	-1.3	-1.5	-2.0	-0.5
Disposal of Fixed Assets	0.0	0.0	0.0	0.0	0.0
Restricted Assets	-0.9	0.0	3.6	-3.4	-1.2
Other Assets	0.0	-0.1	0.1	-0.7	0.0
Deferred Charges Increase	0.0	0.0	-	-	-
Cash from Investing Activities	-5.7	-1.4	2.1	-6.1	-1.7
Short Term Borrowings, Net	5.3	-1.3	-11.0	6.5	5.6
Short Term Notes, Net	-	-	-	-	0.0
Repayment of LT Borrowings	-6.7	-1.9	-0.9	-1.7	-2.4
LT Borrowings Increase	8.2	12.3	3.6	-	0.0
Inc Other Notes Paybl-Related Parties	-	-	-0.6	0.5	-0.3
Increase Other Payables-Related Parties	-	-	-	-	0.0
LT Notes Payable-Related Parties	-	-	-	-	0.0
Lease Payable	-	0.0	-0.1	-0.2	-0.2
Cash Capital	-	-	-	0.0	1.8
Minority Interest	0.0	-0.4	-	-	-
Short Term Notes&Bills Payable Increase	2.4	-	-	-	-
Purchase of Treasury Shares	-0.6	-	-	-	-
Cash from Financing Activities	8.6	8.8	-8.9	5.1	4.5
Foreign Exchange Effects	0.4	-0.1	-0.1	0.4	0.2
Net Change in Cash	2.7	0.7	-0.1	-1.1	1.9
Net Cash - Beginning Balance	2.6	1.8	1.8	3.0	1.0
Net Cash - Ending Balance	5.3	2.5	1.7	1.9	2.9
Cash Interest Paid	1.1	1.1	1.3	1.7	1.8
Cash Taxes Paid	0.0	0.0	0.0	0.3	0.0

Financial Health

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Key Indicators USD (mil)
Â	Quarter Ending 31-Dec-2011	Quarter Ending Yr Ago	Annual Year End 31-Dec-2011	1 Year Growth	3 Year Growth	5 Year Growth
Total Revenue1	16.5	-2.82%	80.5	5.22%	3.17%	5.36%
Operating Income1	0.4	-68.40%	5.0	-12.58%	11.57%	9.27%
Income Available to Common Excl Extraord Items1	0.0	-99.35%	4.2	-3.57%	50.13%	-0.90%
Basic EPS Excl Extraord Items1	0.00	-99.36%	0.04	-3.49%	50.17%	-3.28%
Capital Expenditures2	4.8	258.04%	4.8	258.04%	31.10%	43.17%
Cash from Operating Activities2	-0.6	-	-0.6	-	-	-
Free Cash Flow	-5.3	-	-5.3	-	-	-
Total Assets3	94.6	16.60%	94.6	16.60%	3.17%	5.39%
Total Liabilities3	56.6	20.89%	56.6	20.89%	6.23%	8.84%
Total Long Term Debt3	18.8	15.53%	18.8	15.53%	49.71%	14.03%
Employees3	-	-	269	12.55%	1.93%	1.23%
Total Common Shares Outstanding3	111.9	0.00%	111.9	0.00%	0.00%	1.40%
1-ExchangeRate: TWD to USD Average for Period	30.256909	Â	29.390040	Â	Â	Â
2-ExchangeRate: TWD to USD Average for Period	29.390040	Â	29.390040	Â	Â	Â
3-ExchangeRate: TWD to USD Period End Date	30.279000	Â	30.279000	Â	Â	Â

Key Ratios
Â	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Profitability
Gross Margin	11.15%	11.43%	-10.06%	10.31%	6.75%
Operating Margin	6.24%	7.51%	-15.95%	4.94%	1.44%
Pretax Margin	4.90%	6.05%	-18.99%	2.20%	-0.60%
Net Profit Margin	5.16%	5.63%	-17.55%	1.67%	-0.57%
Financial Strength
Current Ratio	1.59	1.59	1.14	1.20	1.19
Long Term Debt/Equity	0.50	0.47	0.27	0.14	0.18
Total Debt/Equity	1.22	1.08	0.91	0.95	0.85
Management Effectiveness
Return on Assets	4.51%	6.20%	-11.81%	1.58%	-0.65%
Return on Equity	11.14%	12.91%	-24.11%	3.12%	-1.02%
Efficiency
Receivables Turnover	5.66	6.23	5.63	6.67	5.47
Inventory Turnover	2.86	4.17	2.82	3.11	4.40
Asset Turnover	0.89	1.01	0.63	0.86	0.86

Market Valuation USD (mil)
P/E (TTM)	6.42	.	Enterprise Value2	69.3
Price/Sales (TTM)	0.32	.	Enterprise Value/Revenue (TTM)	0.89
Price/Book (MRQ)	0.68	.	Enterprise Value/EBITDA (TTM)	9.42
Market Cap as of 04-May-20121	26.2	.
1-ExchangeRate: TWD to USD on 4-May-2012	29.217251
2-ExchangeRate: TWD to USD on 31-Dec-2011	30.279000

Annual Ratios

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Financial Strength
Current Ratio	1.59	1.59	1.14	1.20	1.19
Quick/Acid Test Ratio	0.57	0.62	0.53	0.24	0.59
Working Capital1	19.5	16.3	3.0	6.8	5.2
Long Term Debt/Equity	0.50	0.47	0.27	0.14	0.18
Total Debt/Equity	1.22	1.08	0.91	0.95	0.85
Long Term Debt/Total Capital	0.22	0.23	0.14	0.07	0.10
Total Debt/Total Capital	0.55	0.52	0.48	0.49	0.46
Payout Ratio	-	0.00%	0.00%	0.00%	0.00%
Effective Tax Rate	-3.44%	-1.20%	-	16.81%	-
Total Capital1	84.3	74.0	54.9	70.0	64.6
Efficiency
Asset Turnover	0.89	1.01	0.63	0.86	0.86
Inventory Turnover	2.86	4.17	2.82	3.11	4.40
Days In Inventory	127.84	87.63	129.38	117.38	83.03
Receivables Turnover	5.66	6.23	5.63	6.67	5.47
Days Receivables Outstanding	64.45	58.61	64.82	54.68	66.71
Revenue/Employee2	290,351	322,541	187,100	258,354	236,138
Operating Income/Employee2	18,127	24,237	-29,844	12,753	3,399
EBITDA/Employee2	27,334	35,480	-17,168	25,733	16,465
Profitability
Gross Margin	11.15%	11.43%	-10.06%	10.31%	6.75%
Operating Margin	6.24%	7.51%	-15.95%	4.94%	1.44%
EBITDA Margin	9.41%	11.00%	-9.18%	9.96%	6.97%
EBIT Margin	6.24%	7.51%	-15.95%	4.94%	1.44%
Pretax Margin	4.90%	6.05%	-18.99%	2.20%	-0.60%
Net Profit Margin	5.16%	5.63%	-17.55%	1.67%	-0.57%
COGS/Revenue	88.85%	88.57%	110.06%	89.69%	93.25%
SG&A Expense/Revenue	4.91%	4.70%	5.81%	5.29%	5.18%
Management Effectiveness
Return on Assets	4.51%	6.20%	-11.81%	1.58%	-0.65%
Return on Equity	11.14%	12.91%	-24.11%	3.12%	-1.02%
Valuation
Free Cash Flow/Share2	-0.05	-0.08	0.05	-0.02	-0.02
Operating Cash Flow/Share 2	-0.01	-0.06	0.06	0.00	-0.01
1-ExchangeRate: TWD to USD Period End Date	30.279	29.1565	31.985	32.818	32.4345
2-ExchangeRate: TWD to USD Average for Period	30.279	29.1565	31.985	32.818	32.4345

Current Market Multiples
Market Cap/Earnings (TTM)	6.28
Market Cap/Equity (MRQ)	0.67
Market Cap/Revenue (TTM)	0.32
Market Cap/EBIT (TTM)	5.19
Market Cap/EBITDA (TTM)	3.44
Enterprise Value/Earnings (TTM)	17.19
Enterprise Value/Equity (MRQ)	1.82
Enterprise Value/Revenue (TTM)	0.89
Enterprise Value/EBIT (TTM)	14.21
Enterprise Value/EBITDA (TTM)	9.42

Annual Income Statement

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Reclassified Normal 31-Dec-2009	Updated Normal 31-Dec-2007
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	29.39004	31.497037	33.023867	31.543497	32.848802
Auditor	KPMG LLP	KPMG Peat Marwick LLP	KPMG Peat Marwick LLP	KPMG LLP	KPMG LLP
Auditor Opinion	Unqualified	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified
Net Sales	2.6	2.2	1.1	2.1	1.9
Gross Revenue	78.3	69.7	43.2	66.6	58.7
Sales Returns and Allowances	-0.5	-0.5	-0.6	-0.5	-0.7
Revenue	80.5	71.4	43.7	68.3	59.9
Total Revenue	80.5	71.4	43.7	68.3	59.9
Cost of Revenue	71.5	63.2	48.1	61.2	55.9
Cost of Revenue, Total	71.5	63.2	48.1	61.2	55.9
Gross Profit	9.0	8.2	-4.4	7.0	4.0
Selling/General/Administrative Expense	4.0	3.4	2.5	3.6	3.1
Total Selling/General/Administrative Expenses	4.0	3.4	2.5	3.6	3.1
Impairment-Assets Held for Use	0.0	-0.6	-	-	-
Impairment-Assets Held for Sale	0.0	0.0	0.0	0.1	0.1
Unusual Expense (Income)	0.0	-0.6	0.0	0.1	0.1
Total Operating Expense	75.4	66.0	50.6	64.9	59.1
Operating Income	5.0	5.4	-7.0	3.4	0.9
Interest Expense - Non-Operating	-1.1	-1.1	-1.3	-1.7	-1.7
Interest Expense, Net Non-Operating	-1.1	-1.1	-1.3	-1.7	-1.7
Interest Income - Non-Operating	0.0	0.0	0.0	0.1	0.0
Investment Income - Non-Operating	-0.1	0.0	-0.1	-0.6	-0.1
Interest/Investment Income - Non-Operating	-0.1	0.0	-0.1	-0.5	-0.1
Interest Income (Expense) - Net Non-Operating Total	-1.3	-1.0	-1.4	-2.2	-1.8
Gain (Loss) on Sale of Assets	0.0	0.0	0.0	0.0	0.0
Other Non-Operating Income (Expense)	0.2	0.0	0.0	0.3	0.6
Other, Net	0.2	0.0	0.0	0.3	0.6
Income Before Tax	3.9	4.3	-8.3	1.5	-0.4
Total Income Tax	-0.1	-0.1	-0.1	0.3	0.1
Income After Tax	4.1	4.4	-8.2	1.2	-0.4
Minority Interest	0.1	-0.4	0.5	-0.1	0.1
Net Income Before Extraord Items	4.2	4.0	-7.7	1.1	-0.3
Net Income	4.2	4.0	-7.7	1.1	-0.3
Income Available to Common Excl Extraord Items	4.2	4.0	-7.7	1.1	-0.3
Income Available to Common Incl Extraord Items	4.2	4.0	-7.7	1.1	-0.3
Basic/Primary Weighted Average Shares	111.8	111.9	111.9	111.9	111.9
Basic EPS Excl Extraord Items	0.04	0.04	-0.07	0.01	0.00
Basic/Primary EPS Incl Extraord Items	0.04	0.04	-0.07	0.01	0.00
Dilution Adjustment	0.0	0.0	0.0	-	0.0
Diluted Net Income	4.2	4.0	-7.7	1.1	-0.3
Diluted Weighted Average Shares	111.8	111.9	111.9	112.0	111.9
Diluted EPS Excl Extraord Items	0.04	0.04	-0.07	0.01	0.00
Diluted EPS Incl Extraord Items	0.04	0.04	-0.07	0.01	0.00
Dividends per Share - Common Stock Primary Issue	-	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	-	0.0	0.0	0.0	0.0
Interest Expense, Supplemental	1.1	1.1	1.3	1.7	1.7
Depreciation, Supplemental	2.5	2.4	2.9	3.4	3.2
Total Special Items	0.0	-0.6	0.0	0.1	0.1
Normalized Income Before Tax	3.9	3.8	-8.3	1.6	-0.3
Effect of Special Items on Income Taxes	0.0	-0.2	0.0	0.0	0.0
Inc Tax Ex Impact of Sp Items	-0.1	-0.2	-0.1	0.3	0.1
Normalized Income After Tax	4.1	4.0	-8.2	1.3	-0.4
Normalized Inc. Avail to Com.	4.2	3.6	-7.6	1.2	-0.3
Basic Normalized EPS	0.04	0.03	-0.07	0.01	0.00
Diluted Normalized EPS	0.04	0.03	-0.07	0.01	0.00
Amort of Intangibles, Supplemental	0.1	0.0	0.1	0.1	0.1
Normalized EBIT	5.0	4.8	-6.9	3.4	0.9
Normalized EBITDA	7.6	7.3	-4.0	6.9	4.3
Current Tax - Total	0.0	-	0.0	0.3	0.0
Current Tax - Total	0.0	-	0.0	0.3	0.0
Deferred Tax - Total	-0.1	-0.1	-0.1	0.0	0.1
Deferred Tax - Total	-0.1	-0.1	-0.1	0.0	0.1
Income Tax - Total	-0.1	-0.1	-0.1	0.3	0.1
Interest Cost - Domestic	0.0	0.0	0.0	0.0	0.0
Service Cost - Domestic	0.0	0.1	0.0	0.1	0.1
Expected Return on Assets - Domestic	0.0	0.0	0.0	0.0	0.0
Transition Costs - Domestic	0.0	0.1	0.0	0.0	0.0
Domestic Pension Plan Expense	0.1	0.1	0.1	0.1	0.1
Total Pension Expense	0.1	0.1	0.1	0.1	0.1
Discount Rate - Domestic	2.00%	2.25%	2.25%	2.25%	3.25%
Expected Rate of Return - Domestic	2.00%	2.25%	2.25%	2.25%	3.25%
Compensation Rate - Domestic	1.00%	1.00%	1.00%	1.00%	1.00%
Total Plan Interest Cost	0.0	0.0	0.0	0.0	0.0
Total Plan Service Cost	0.0	0.1	0.0	0.1	0.1
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-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011	31-Dec-2010
Period Length	3 Months	3 Months	3 Months	3 Months	3 Months
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011	Updated Normal 31-Dec-2010
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	30.256909	29.146237	28.855204	29.305764	30.350199
Net Sales	0.6	0.7	0.8	0.6	0.6
Gross Revenue	16.1	17.8	21.8	22.8	16.3
Sales Returns and Allowances	-0.1	-0.1	-0.1	-0.2	0.0
Revenue	16.5	18.4	22.5	23.2	16.9
Total Revenue	16.5	18.4	22.5	23.2	16.9
Cost of Revenue	15.5	16.6	18.7	20.7	15.6
Cost of Revenue, Total	15.5	16.6	18.7	20.7	15.6
Gross Profit	1.0	1.9	3.7	2.4	1.3
Selling/General/Administrative Expense	0.6	1.2	1.2	1.0	0.8
Total Selling/General/Administrative Expenses	0.6	1.2	1.2	1.0	0.8
Impairment-Assets Held for Use	0.0	-	-	-	-0.6
Impairment-Assets Held for Sale	0.0	0.0	-	-	0.0
Unusual Expense (Income)	0.0	0.0	-	-	-0.6
Total Operating Expense	16.2	17.7	19.9	21.7	15.8
Operating Income	0.4	0.7	2.5	1.5	1.1
Interest Expense - Non-Operating	-0.4	-0.2	-0.3	-0.3	-0.3
Interest Expense, Net Non-Operating	-0.4	-0.2	-0.3	-0.3	-0.3
Interest Income - Non-Operating	0.0	0.0	0.0	0.0	0.0
Investment Income - Non-Operating	-0.2	0.0	0.0	0.0	0.0
Interest/Investment Income - Non-Operating	-0.2	0.0	0.0	0.0	0.0
Interest Income (Expense) - Net Non-Operating Total	-0.6	-0.2	-0.3	-0.2	-0.3
Gain (Loss) on Sale of Assets	0.0	0.0	-	-	0.0
Other Non-Operating Income (Expense)	0.0	0.0	0.2	0.0	0.0
Other, Net	0.0	0.0	0.2	0.0	0.0
Income Before Tax	-0.2	0.5	2.4	1.2	0.8
Total Income Tax	-0.1	0.0	0.0	0.0	0.0
Income After Tax	-0.1	0.5	2.4	1.2	0.8
Minority Interest	0.1	0.0	-0.1	0.0	0.0
Net Income Before Extraord Items	0.0	0.6	2.4	1.2	0.7
Net Income	0.0	0.6	2.4	1.2	0.7
Income Available to Common Excl Extraord Items	0.0	0.6	2.4	1.2	0.7
Income Available to Common Incl Extraord Items	0.0	0.6	2.4	1.2	0.7
Basic/Primary Weighted Average Shares	111.9	111.9	111.9	111.9	111.9
Basic EPS Excl Extraord Items	-	0.01	0.02	0.01	0.01
Basic/Primary EPS Incl Extraord Items	-	0.01	0.02	0.01	0.01
Diluted Net Income	0.0	0.6	2.4	1.2	0.7
Diluted Weighted Average Shares	111.9	111.9	111.9	111.9	111.9
Diluted EPS Excl Extraord Items	-	0.01	0.02	0.01	0.01
Diluted EPS Incl Extraord Items	-	0.01	0.02	0.01	0.01
Dividends per Share - Common Stock Primary Issue	-	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	-	0.0	0.0	0.0	0.0
Interest Expense, Supplemental	0.4	0.2	0.3	0.3	0.3
Depreciation, Supplemental	0.6	0.6	0.6	0.6	0.6
Total Special Items	0.0	0.0	-	-	-0.6
Normalized Income Before Tax	-0.2	0.5	2.4	1.2	0.2
Effect of Special Items on Income Taxes	0.0	0.0	-	-	0.0
Inc Tax Ex Impact of Sp Items	-0.1	0.0	0.0	0.0	0.0
Normalized Income After Tax	-0.1	0.5	2.4	1.2	0.2
Normalized Inc. Avail to Com.	0.0	0.6	2.4	1.2	0.2
Basic Normalized EPS	-	0.01	0.02	0.01	0.00
Diluted Normalized EPS	-	0.01	0.02	0.01	0.00
Amort of Intangibles, Supplemental	0.0	0.0	0.0	0.0	0.0
Normalized EBIT	0.4	0.7	2.5	1.5	0.5
Normalized EBITDA	1.0	1.3	3.2	2.1	1.1

Annual Balance Sheet

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Reclassified Normal 31-Dec-2010	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate	30.279	29.1565	31.985	32.818	32.4345
Auditor	KPMG LLP	KPMG Peat Marwick LLP	KPMG Peat Marwick LLP	KPMG LLP	KPMG LLP
Auditor Opinion	Unqualified	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified
Cash & Equivalents	5.2	2.7	1.8	1.8	3.0
Short Term Investments	0.1	0.0	0.0	0.0	0.1
Cash and Short Term Investments	5.2	2.7	1.8	1.9	3.0
Accounts Receivable - Trade, Gross	8.3	9.5	7.7	5.2	10.4
Provision for Doubtful Accounts	-0.1	-0.3	-0.6	-0.6	-0.5
Trade Accounts Receivable - Net	8.9	9.7	7.5	4.9	10.3
Notes Receivable - Short Term	4.9	4.7	2.0	1.5	3.1
Other Receivables	0.0	0.0	0.0	-	-
Total Receivables, Net	13.7	14.4	9.5	6.4	13.4
Inventories - Finished Goods	9.1	8.2	4.0	6.6	3.7
Inventories - Work In Progress	0.6	0.5	0.3	0.6	0.3
Inventories - Raw Materials	17.3	13.7	5.2	21.4	9.0
Inventories - Other	-	-	-	-3.6	-0.1
Total Inventory	27.1	22.4	9.5	25.0	13.0
Prepaid Expenses	1.7	0.5	0.1	0.6	0.2
Restricted Cash - Current	-	3.6	3.2	6.7	3.4
Other Current Assets	4.8	0.3	0.2	-	-
Other Current Assets, Total	4.8	3.8	3.4	6.7	3.4
Total Current Assets	52.6	43.7	24.2	40.6	33.1
Buildings	15.0	15.3	14.6	14.3	14.0
Land/Improvements	22.2	23.1	21.0	20.5	20.7
Machinery/Equipment	26.4	24.4	27.1	27.0	29.9
Construction in Progress	2.2	0.1	2.0	0.7	0.2
Property/Plant/Equipment - Gross	65.7	62.8	64.7	62.5	64.8
Accumulated Depreciation	-25.4	-23.9	-28.4	-25.5	-26.4
Property/Plant/Equipment - Net	40.3	38.9	36.3	36.9	38.4
Goodwill, Net	0.0	0.0	0.0	0.0	0.0
Intangibles, Net	1.5	1.5	1.4	1.4	1.4
LT Investments - Other	-	0.0	0.0	0.2	0.3
Long Term Investments	-	0.0	0.0	0.2	0.3
Pension Benefits - Overfunded	0.0	0.0	0.0	0.0	0.0
Other Long Term Assets	0.2	0.1	0.0	0.3	0.1
Other Long Term Assets, Total	0.2	0.1	0.0	0.3	0.1
Total Assets	94.6	84.3	62.0	79.5	73.2
Accounts Payable	3.2	4.1	1.8	3.5	3.4
Accrued Expenses	1.7	1.7	0.9	1.4	1.3
Notes Payable/Short Term Debt	23.0	15.6	15.6	26.9	20.5
Current Portion - Long Term Debt/Capital Leases	4.4	5.8	2.6	2.0	2.7
Other Payables	0.5	0.0	0.0	-	-
Other Current Liabilities	0.3	0.3	0.3	-	-
Other Current liabilities, Total	0.8	0.3	0.3	-	-
Total Current Liabilities	33.1	27.5	21.3	33.8	27.9
Long Term Debt	18.8	16.9	7.9	5.2	6.4
Capital Lease Obligations	-	-	-	0.0	0.1
Total Long Term Debt	18.8	16.9	7.9	5.2	6.4
Total Debt	46.3	38.3	26.1	34.1	29.7
Deferred Income Tax - LT Liability	0.2	0.4	0.5	0.6	0.4
Deferred Income Tax	0.2	0.4	0.5	0.6	0.4
Minority Interest	2.9	2.7	2.5	3.0	2.8
Pension Benefits - Underfunded	1.6	1.1	1.0	0.9	0.7
Other Liabilities, Total	1.6	1.1	1.0	0.9	0.7
Total Liabilities	56.6	48.6	33.2	43.5	38.3
Common Stock	36.2	38.4	35.0	34.1	34.5
Common Stock	36.2	38.4	35.0	34.1	34.5
Additional Paid-In Capital	0.2	-	-	-	-
Retained Earnings (Accumulated Deficit)	0.8	-3.3	-7.0	0.9	-0.2
Translation Adjustment	1.8	1.1	1.2	1.3	0.9
Minimum Pension Liability Adjustment	-0.9	-0.4	-0.4	-0.3	-0.2
Other Equity, Total	0.8	0.6	0.8	1.0	0.7
Total Equity	38.0	35.7	28.8	35.9	34.9
Total Liabilities & Shareholders’ Equity	94.6	84.3	62.0	79.5	73.2
Shares Outstanding - Common Stock Primary Issue	111.9	111.9	111.9	111.9	111.9
Total Common Shares Outstanding	111.9	111.9	111.9	111.9	111.9
Treasury Shares - Common Stock Primary Issue	0.0	0.0	0.0	0.0	0.0
Employees	269	239	241	254	257
Number of Common Shareholders	-	11,526	11,589	12,376	10,795
Total Long Term Debt, Supplemental	23.3	22.7	10.5	7.1	8.9
Long Term Debt Maturing within 1 Year	4.4	5.8	2.6	1.9	2.5
Long Term Debt Maturing in Year 2	14.3	7.5	7.9	3.2	1.9
Long Term Debt Maturing in Year 3	2.6	4.7	-	1.9	2.5
Long Term Debt Maturing in Year 4	1.9	2.7	-	0.0	2.0
Long Term Debt Maturing in 2-3 Years	16.9	12.2	7.9	5.1	4.4
Long Term Debt Maturing in 4-5 Years	1.9	2.7	-	0.0	2.0
Long Term Debt Matur. in Year 6 & Beyond	0.0	2.0	0.0	0.0	0.0
Interest Costs	-	-	-	-	0.0
Total Capital Leases, Supplemental	-	-	-	-	0.3
Capital Lease Payments Due in Year 1	-	-	-	-	0.2
Capital Lease Payments Due in Year 2	-	-	-	-	0.1
Capital Lease Payments Due in 2-3 Years	-	-	-	-	0.1
Pension Obligation - Domestic	2.5	2.0	1.8	1.5	1.4
Plan Assets - Domestic	0.8	0.8	0.6	0.6	0.6
Funded Status - Domestic	-1.7	-1.2	-1.1	-1.0	-0.8
Accumulated Obligation - Domestic	2.4	1.9	1.7	1.4	1.3
Total Funded Status	-1.7	-1.2	-1.1	-1.0	-0.8
Discount Rate - Domestic	2.00%	2.25%	2.25%	2.25%	3.25%
Expected Rate of Return - Domestic	2.00%	2.25%	2.25%	2.25%	3.25%
Compensation Rate - Domestic	1.00%	1.00%	1.00%	1.00%	1.00%
Prepaid Benefits - Domestic	-	0.0	0.0	0.0	0.0
Accrued Liabilities - Domestic	-1.6	-1.1	-1.0	-0.9	-0.7
Net Assets Recognized on Balance Sheet	-1.6	-1.1	-1.0	-0.8	-0.7
Total Plan Obligations	2.5	2.0	1.8	1.5	1.4
Total Plan Assets	0.8	0.8	0.6	0.6	0.6

Interim Balance Sheet

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011	31-Dec-2010
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011	Updated Normal 31-Dec-2010
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate	30.279	30.475	28.7235	29.4065	29.1565
Cash & Equivalents	5.2	3.8	6.8	3.6	2.7
Short Term Investments	0.1	0.0	0.0	0.0	0.0
Cash and Short Term Investments	5.2	3.8	6.8	3.6	2.7
Accounts Receivable - Trade, Gross	8.3	9.9	10.7	12.2	9.5
Provision for Doubtful Accounts	-0.1	-0.1	-0.1	-0.3	-0.3
Trade Accounts Receivable - Net	8.9	10.5	11.4	12.8	9.7
Notes Receivable - Short Term	4.9	4.4	6.7	6.7	4.7
Other Receivables	0.0	-	-	-	0.0
Total Receivables, Net	13.7	14.8	18.1	19.6	14.4
Inventories - Finished Goods	7.6	5.5	5.0	3.6	5.4
Inventories - Work In Progress	0.6	0.7	0.6	0.7	0.5
Inventories - Raw Materials	17.3	18.2	12.4	15.2	13.7
Inventories - Other	1.5	0.0	0.7	0.4	2.8
Total Inventory	27.1	24.4	18.6	20.0	22.4
Prepaid Expenses	1.7	0.4	0.4	0.7	0.5
Restricted Cash - Current	-	3.8	4.1	4.3	3.6
Other Current Assets	4.8	0.2	0.3	0.1	0.3
Other Current Assets, Total	4.8	3.9	4.4	4.4	3.8
Total Current Assets	52.6	47.4	48.3	48.2	43.7
Buildings	15.0	14.8	15.5	15.1	15.3
Land/Improvements	22.2	22.1	23.4	22.9	23.1
Machinery/Equipment	26.4	24.9	25.1	24.7	24.4
Construction in Progress	2.2	2.1	0.9	0.5	0.1
Property/Plant/Equipment - Gross	65.7	63.9	64.9	63.2	62.8
Accumulated Depreciation	-25.4	-24.9	-25.4	-24.3	-23.9
Property/Plant/Equipment - Net	40.3	39.0	39.6	38.8	38.9
Goodwill, Net	0.0	0.0	0.0	0.0	0.0
Intangibles, Net	1.5	1.5	1.5	1.5	1.5
LT Investments - Other	-	0.0	0.0	-	0.0
Long Term Investments	-	0.0	0.0	-	0.0
Pension Benefits - Overfunded	0.0	0.0	0.0	0.0	0.0
Other Long Term Assets	0.2	0.1	0.1	0.1	0.1
Other Long Term Assets, Total	0.2	0.1	0.1	0.1	0.1
Total Assets	94.6	88.1	89.6	88.7	84.3
Accounts Payable	3.2	2.2	2.9	4.9	4.1
Accrued Expenses	1.7	1.4	1.4	1.0	1.7
Notes Payable/Short Term Debt	23.0	19.3	14.5	17.9	15.6
Current Portion - Long Term Debt/Capital Leases	4.4	6.0	6.2	7.6	5.8
Other Payables	0.5	0.0	0.0	0.0	0.0
Other Current Liabilities	0.3	0.4	0.3	0.3	0.3
Other Current liabilities, Total	0.8	0.4	0.4	0.3	0.3
Total Current Liabilities	33.1	29.4	25.3	31.8	27.5
Long Term Debt	18.8	15.8	20.0	16.0	16.9
Total Long Term Debt	18.8	15.8	20.0	16.0	16.9
Total Debt	46.3	41.1	40.8	41.5	38.3
Deferred Income Tax - LT Liability	0.2	0.5	0.4	0.4	0.4
Deferred Income Tax	0.2	0.5	0.4	0.4	0.4
Minority Interest	2.9	2.9	2.9	2.8	2.7
Pension Benefits - Underfunded	1.6	1.1	1.1	1.1	1.1
Other Liabilities, Total	1.6	1.1	1.1	1.1	1.1
Total Liabilities	56.6	49.5	49.7	52.0	48.6
Common Stock	36.2	36.7	38.9	38.0	38.4
Common Stock	36.2	36.7	38.9	38.0	38.4
Additional Paid-In Capital	0.2	-	-	-	-
Retained Earnings (Accumulated Deficit)	0.8	0.8	0.3	-2.1	-3.3
Translation Adjustment	1.8	1.5	1.1	1.1	1.1
Minimum Pension Liability Adjustment	-0.9	-0.4	-0.4	-0.4	-0.4
Other Equity, Total	0.8	1.0	0.7	0.7	0.6
Total Equity	38.0	38.6	39.9	36.7	35.7
Total Liabilities & Shareholders’ Equity	94.6	88.1	89.6	88.7	84.3
Shares Outstanding - Common Stock Primary Issue	111.9	111.9	111.9	111.9	111.9
Total Common Shares Outstanding	111.9	111.9	111.9	111.9	111.9
Treasury Shares - Common Stock Primary Issue	0.0	0.0	0.0	0.0	0.0
Employees	269	-	252	-	239
Total Long Term Debt, Supplemental	23.3	21.8	26.2	23.5	22.7
Long Term Debt Maturing within 1 Year	4.4	6.0	6.2	7.6	5.8
Long Term Debt Maturing in Year 2	14.3	10.6	11.9	7.9	7.5
Long Term Debt Maturing in Year 3	2.6	2.6	4.7	4.0	4.7
Long Term Debt Maturing in Year 4	1.9	2.6	2.7	2.7	2.7
Long Term Debt Maturing in 2-3 Years	16.9	13.2	16.6	12.0	12.2
Long Term Debt Maturing in 4-5 Years	1.9	2.6	2.7	2.7	2.7
Long Term Debt Matur. in Year 6 & Beyond	0.0	0.0	0.7	1.3	2.0
Prepaid Benefits - Domestic	-	0.0	0.0	0.0	0.0
Accrued Liabilities - Domestic	-1.6	-1.1	-1.1	-1.1	-1.1
Net Assets Recognized on Balance Sheet	-1.6	-1.1	-1.1	-1.1	-1.1

Annual Cash Flows

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	29.39004	31.497037	33.023867	31.543497	32.848802
Auditor	KPMG LLP	KPMG Peat Marwick LLP	KPMG Peat Marwick LLP	KPMG LLP	KPMG LLP
Auditor Opinion	Unqualified	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified
Net Income/Starting Line	4.1	4.4	-8.2	1.2	-0.4
Depreciation	2.5	2.4	2.9	3.4	3.3
Depreciation/Depletion	2.5	2.4	2.9	3.4	3.3
Amortization of Intangibles	0.1	0.0	0.1	0.1	0.1
Amortization	0.1	0.0	0.1	0.1	0.1
Deferred Taxes	-0.1	-0.1	-0.1	0.0	0.1
Unusual Items	0.0	-0.6	0.0	0.1	0.1
Other Non-Cash Items	-0.3	-0.9	-2.3	4.2	0.2
Non-Cash Items	-0.3	-1.5	-2.3	4.3	0.2
Accounts Receivable	0.3	-3.3	-2.8	7.1	-4.9
Inventories	-5.6	-10.5	18.3	-16.4	-0.1
Prepaid Expenses	-1.3	-0.4	0.4	-0.4	0.0
Other Assets	-0.1	0.0	0.0	0.1	0.0
Accounts Payable	-0.7	1.9	-1.4	0.0	0.3
Accrued Expenses	0.1	0.6	-0.2	0.2	0.2
Other Liabilities	0.6	-0.2	0.1	0.1	0.1
Changes in Working Capital	-6.8	-11.9	14.3	-9.4	-4.3
Cash from Operating Activities	-0.6	-6.6	6.7	-0.4	-1.2
Purchase of Fixed Assets	-4.8	-1.3	-1.5	-2.0	-0.5
Capital Expenditures	-4.8	-1.3	-1.5	-2.0	-0.5
Sale of Fixed Assets	0.0	0.0	0.0	0.0	0.0
Other Investing Cash Flow	-0.9	-0.2	3.6	-4.1	-1.1
Other Investing Cash Flow Items, Total	-0.9	-0.2	3.6	-4.1	-1.1
Cash from Investing Activities	-5.7	-1.4	2.1	-6.1	-1.7
Other Financing Cash Flow	0.0	-0.4	-0.6	0.5	-0.3
Financing Cash Flow Items	0.0	-0.4	-0.6	0.5	-0.3
Sale/Issuance of Common	-	-	-	0.0	1.8
Repurchase/Retirement of Common	-0.6	-	-	-	-
Common Stock, Net	-0.6	-	-	0.0	1.8
Issuance (Retirement) of Stock, Net	-0.6	-	-	0.0	1.8
Short Term Debt Issued	2.4	-	-	-	-
Short Term Debt, Net	7.7	-1.3	-11.0	6.5	5.6
Long Term Debt Issued	8.2	12.3	3.6	-	0.0
Long Term Debt Reduction	-6.7	-1.9	-0.9	-1.7	-2.4
Long Term Debt, Net	1.5	10.4	2.7	-1.9	-2.6
Issuance (Retirement) of Debt, Net	9.2	9.1	-8.3	4.5	3.0
Cash from Financing Activities	8.6	8.8	-8.9	5.1	4.5
Foreign Exchange Effects	0.4	-0.1	-0.1	0.4	0.2
Net Change in Cash	2.7	0.7	-0.1	-1.1	1.9
Net Cash - Beginning Balance	2.6	1.8	1.8	3.0	1.0
Net Cash - Ending Balance	5.3	2.5	1.7	1.9	2.9
Cash Interest Paid	1.1	1.1	1.3	1.7	1.8
Cash Taxes Paid	0.0	0.0	0.0	0.3	0.0

Interim Cash Flows

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011	31-Dec-2010
Period Length	12 Months	9 Months	6 Months	3 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011	Updated Normal 31-Dec-2010
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	29.39004	29.099862	29.074238	29.305764	31.497037
Net Income/Starting Line	4.1	4.2	3.7	1.2	4.4
Depreciation	2.5	1.9	1.3	0.6	2.4
Depreciation/Depletion	2.5	1.9	1.3	0.6	2.4
Amortization of Intangibles	0.1	0.0	0.0	0.0	0.0
Amortization	0.1	0.0	0.0	0.0	0.0
Deferred Taxes	-0.1	0.0	0.0	-	-0.1
Unusual Items	0.0	0.0	-	-	-0.6
Other Non-Cash Items	-0.3	-0.3	-0.3	-	-0.9
Non-Cash Items	-0.3	-0.3	-0.3	-	-1.5
Accounts Receivable	0.3	-0.9	-3.3	-5.3	-3.3
Inventories	-5.6	-3.1	4.1	2.2	-10.5
Prepaid Expenses	-1.3	0.1	0.1	-0.2	-0.4
Other Assets	-0.1	0.1	-0.1	0.2	0.0
Accounts Payable	-0.7	-1.8	-1.3	0.8	1.9
Accrued Expenses	0.1	-0.2	-0.3	-0.6	0.6
Other Liabilities	0.6	0.4	0.2	0.2	-0.2
Changes in Working Capital	-6.8	-5.5	-0.5	-2.8	-11.9
Cash from Operating Activities	-0.6	0.4	4.2	-0.9	-6.6
Purchase of Fixed Assets	-4.8	-3.5	-1.3	-0.8	-1.3
Capital Expenditures	-4.8	-3.5	-1.3	-0.8	-1.3
Sale of Fixed Assets	0.0	0.0	-	-	0.0
Other Investing Cash Flow	-0.9	-0.4	-0.5	-0.8	-0.2
Other Investing Cash Flow Items, Total	-0.9	-0.4	-0.5	-0.8	-0.2
Cash from Investing Activities	-5.7	-3.9	-1.8	-1.6	-1.4
Other Financing Cash Flow	0.0	-	-	-	-0.4
Financing Cash Flow Items	0.0	-	-	-	-0.4
Repurchase/Retirement of Common	-0.6	-	-	-	-
Common Stock, Net	-0.6	-	-	-	-
Issuance (Retirement) of Stock, Net	-0.6	-	-	-	-
Short Term Debt Issued	2.4	1.0	-	-	-
Short Term Debt, Net	7.7	4.3	-1.5	2.3	-1.3
Long Term Debt Issued	8.2	5.6	5.2	1.7	12.3
Long Term Debt Reduction	-6.7	-5.5	-2.0	-0.7	-1.9
Long Term Debt, Net	1.5	0.1	3.1	1.0	10.4
Issuance (Retirement) of Debt, Net	9.2	4.4	1.7	3.3	9.1
Cash from Financing Activities	8.6	4.4	1.7	3.3	8.8
Foreign Exchange Effects	0.4	0.4	0.0	0.1	-0.1
Net Change in Cash	2.7	1.3	4.0	0.9	0.7
Net Cash - Beginning Balance	2.6	2.7	2.7	2.7	1.8
Net Cash - Ending Balance	5.3	3.9	6.7	3.6	2.5
Cash Interest Paid	1.1	1.0	0.5	0.4	1.1
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-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Reclassified Normal 31-Dec-2009	Updated Normal 31-Dec-2007
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	29.39004	31.497037	33.023867	31.543497	32.848802
Auditor	KPMG LLP	KPMG Peat Marwick LLP	KPMG Peat Marwick LLP	KPMG LLP	KPMG LLP
Auditor Opinion	Unqualified	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified
Gross Sales	78.3	69.7	43.2	66.6	58.7
Sales Returns	-0.1	-0.1	-0.1	-0.1	-0.2
Sales Discounts	-0.4	-0.4	-0.5	-0.3	-0.5
Processing Revenues	2.6	2.2	1.1	2.1	1.9
Total Revenue	80.5	71.4	43.7	68.3	59.9
Cost of Sales	71.5	63.2	48.1	61.2	56.0
Gain from Revaluation of Inventory	-	-	-	-	-0.1
Inventory Devaluation & Obsolescence	-	-	-	-	0.0
Gain/Loss on Physical Inventory	-	-	-	-	0.0
Selling Expenses	1.9	1.4	1.1	2.1	1.8
General and Administrative Expenses	2.1	2.0	1.5	1.6	1.3
Impairment Loss	0.0	0.0	0.0	0.1	0.1
Gain on Reversal of Impairment Loss	0.0	-0.6	-	-	-
Total Operating Expense	75.4	66.0	50.6	64.9	59.1
Interest Income	0.0	0.0	0.0	0.1	0.0
Gain on Sale of Fixed Assets	0.0	-	-	-	0.0
Gain/Loss on Foreign Exchange	-0.1	0.0	0.1	-0.6	-0.1
Miscellaneous Income	0.3	0.1	0.1	0.5	0.8
Interest Expense	-1.1	-1.1	-1.3	-1.7	-1.7
Revaluation Loss on Fin. Liabilities	0.0	0.0	-	-	-
Loss on Sale of Fixed Assets	-	0.0	0.0	0.0	0.0
Other Investment Loss	-	0.0	-0.1	0.0	-
Miscellaneous Disbursements	-0.1	-0.1	-0.1	-0.2	-0.2
Net Income Before Taxes	3.9	4.3	-8.3	1.5	-0.4
Provision for Income Taxes	-0.1	-0.1	-0.1	0.3	0.1
Net Income After Taxes	4.1	4.4	-8.2	1.2	-0.4
Minority Interests	0.1	-0.4	0.5	-0.1	0.1
Net Income Before Extra. Items	4.2	4.0	-7.7	1.1	-0.3
Net Income	4.2	4.0	-7.7	1.1	-0.3
Income Available to Com Excl ExtraOrd	4.2	4.0	-7.7	1.1	-0.3
Income Available to Com Incl ExtraOrd	4.2	4.0	-7.7	1.1	-0.3
Basic Weighted Average Shares	111.8	111.9	111.9	111.9	111.9
Basic EPS Excluding ExtraOrdinary Items	0.04	0.04	-0.07	0.01	0.00
Basic EPS Including ExtraOrdinary Items	0.04	0.04	-0.07	0.01	0.00
Dilution Adjustment	0.0	0.0	0.0	-	0.0
Diluted Net Income	4.2	4.0	-7.7	1.1	-0.3
Diluted Weighted Average Shares	111.8	111.9	111.9	112.0	111.9
Diluted EPS Excluding ExtraOrd Items	0.04	0.04	-0.07	0.01	0.00
Diluted EPS Including ExtraOrd Items	0.04	0.04	-0.07	0.01	0.00
DPS-Ordinary Stock	-	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	-	0.0	0.0	0.0	0.0
Normalized Income Before Taxes	3.9	3.8	-8.3	1.6	-0.3
Inc Tax Ex Impact of Sp Items	-0.1	-0.2	-0.1	0.3	0.1
Normalized Income After Taxes	4.1	4.0	-8.2	1.3	-0.4
Normalized Inc. Avail to Com.	4.2	3.6	-7.6	1.2	-0.3
Basic Normalized EPS	0.04	0.03	-0.07	0.01	0.00
Diluted Normalized EPS	0.04	0.03	-0.07	0.01	0.00
Interest Expense, Supplemental	1.1	1.1	1.3	1.7	1.7
Depreciation - Operating Cost	2.4	2.4	2.8	3.3	3.2
Depreciation - Operating Expense	0.1	0.1	0.1	0.1	0.1
Amortization - Operating Cost	0.0	0.0	0.0	0.0	0.0
Amortization - Operating Expense	0.0	0.0	0.0	0.0	0.1
Current Tax	0.0	-	0.0	0.3	0.0
Current Tax - Total	0.0	-	0.0	0.3	0.0
Deferred Tax	-0.1	-0.1	-0.1	0.0	0.1
Deferred Tax - Total	-0.1	-0.1	-0.1	0.0	0.1
Income Tax - Total	-0.1	-0.1	-0.1	0.3	0.1
Service Cost	0.0	0.1	0.0	0.1	0.1
Interest Cost	0.0	0.0	0.0	0.0	0.0
Expected Return on Plan Assets	0.0	0.0	0.0	0.0	0.0
Amort. of Transition Cost	0.0	0.1	0.0	0.0	0.0
Domestic Pension Plan Expense	0.1	0.1	0.1	0.1	0.1
Total Pension Expense	0.1	0.1	0.1	0.1	0.1
Discount Rate	2.00%	2.25%	2.25%	2.25%	3.25%
Rate of Compensation Increase	1.00%	1.00%	1.00%	1.00%	1.00%
Expected Return on Plan Assets	2.00%	2.25%	2.25%	2.25%	3.25%

Interim Income Statement

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011	31-Dec-2010
Period Length	3 Months	3 Months	3 Months	3 Months	3 Months
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011	Updated Normal 31-Dec-2010
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	30.256909	29.146237	28.855204	29.305764	30.350199
Gross Sales	16.1	17.8	21.8	22.8	16.3
Sales Returns	0.0	0.0	0.0	-0.1	0.1
Sales Discounts	-0.1	-0.1	-0.1	-0.1	0.0
Processing Revenues	0.6	0.7	0.8	0.6	0.6
Total Revenue	16.5	18.4	22.5	23.2	16.9
Cost of Sales	15.5	16.6	18.7	20.7	15.6
Selling Expenses	0.4	0.5	0.5	0.5	0.4
General and Administrative Expenses	0.2	0.7	0.7	0.5	0.5
Impairment Loss of Financial Assets	0.0	0.0	-	-	0.0
Gain on Reversal of Impairment Loss	0.0	-	-	-	-0.6
Total Operating Expense	16.2	17.7	19.9	21.7	15.8
Interest Income	0.0	0.0	0.0	0.0	0.0
Gains on Disposal of Fixed Assets	0.0	0.0	-	-	-
Gain/Loss on Foreign Exchange	-0.2	0.0	0.0	0.0	0.0
Miscellaneous Income	0.0	0.0	0.2	0.0	0.0
Interest Expense	-0.4	-0.2	-0.3	-0.3	-0.3
Other Investment Loss	-	-	-	-	0.0
Loss on Disposal of Fixed Assets	-	-	-	-	0.0
Loss on Fin. Liabilities Revaluation	0.0	0.0	0.0	-	0.0
Miscellaneous Disbursements	0.0	0.0	0.0	-0.1	0.0
Net Income Before Taxes	-0.2	0.5	2.4	1.2	0.8
Provision for Income Taxes	-0.1	0.0	0.0	0.0	0.0
Net Income After Taxes	-0.1	0.5	2.4	1.2	0.8
Minority Interest	0.1	0.0	-0.1	0.0	0.0
Net Income Before Extra. Items	0.0	0.6	2.4	1.2	0.7
Net Income	0.0	0.6	2.4	1.2	0.7
Income Available to Com Excl ExtraOrd	0.0	0.6	2.4	1.2	0.7
Income Available to Com Incl ExtraOrd	0.0	0.6	2.4	1.2	0.7
Basic Weighted Average Shares	111.9	111.9	111.9	111.9	111.9
Basic EPS Excluding ExtraOrdinary Items	-	0.01	0.02	0.01	0.01
Basic EPS Including ExtraOrdinary Items	-	0.01	0.02	0.01	0.01
Diluted Net Income	0.0	0.6	2.4	1.2	0.7
Diluted Weighted Average Shares	111.9	111.9	111.9	111.9	111.9
Diluted EPS Excluding ExtraOrd Items	-	0.01	0.02	0.01	0.01
Diluted EPS Including ExtraOrd Items	-	0.01	0.02	0.01	0.01
DPS-Ordinary Stock	-	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	-	0.0	0.0	0.0	0.0
Normalized Income Before Taxes	-0.2	0.5	2.4	1.2	0.2
Inc Tax Ex Impact of Sp Items	-0.1	0.0	0.0	0.0	0.0
Normalized Income After Taxes	-0.1	0.5	2.4	1.2	0.2
Normalized Inc. Avail to Com.	0.0	0.6	2.4	1.2	0.2
Basic Normalized EPS	-	0.01	0.02	0.01	0.00
Diluted Normalized EPS	-	0.01	0.02	0.01	0.00
Interest Expense, Supplemental	0.4	0.2	0.3	0.3	0.3
Depreciation, Supplemental	0.6	0.6	0.6	0.6	0.6
Amortization	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-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Reclassified Normal 31-Dec-2010	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate	30.279	29.1565	31.985	32.818	32.4345
Auditor	KPMG LLP	KPMG Peat Marwick LLP	KPMG Peat Marwick LLP	KPMG LLP	KPMG LLP
Auditor Opinion	Unqualified	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified
Cash and Cash Equivalent	5.2	2.7	1.8	1.8	3.0
Notes Receivable	4.3	4.1	2.0	1.5	3.1
Notes Receivable - Related Parties	0.5	0.6	0.0	0.1	0.0
Accounts Receivable, Gross	8.3	9.5	7.7	5.2	10.4
Provision for Doubtful Accounts	-0.1	-0.3	-0.6	-0.6	-0.5
Accounts Receivable - Related Parties	0.6	0.4	0.3	0.3	0.4
Other Receivables - Related Parties	0.0	0.0	0.0	-	-
Other Financial Assets - Current	0.1	0.0	0.0	0.0	0.1
Raw Material	17.3	13.6	5.2	21.4	8.9
Supplies	0.1	0.1	0.1	0.1	0.1
Work-in-Process	0.6	0.5	0.3	0.6	0.3
Finished Goods	7.6	5.4	3.6	6.6	3.7
Merchandise	0.0	0.0	-	-	-
Goods Purchased	-	-	0.0	0.0	0.0
Goods in Transit	1.5	2.8	0.4	-	-
Provision/Allowance for Inventory	-	-	-	-3.6	-0.1
Restricted Assets	-	3.6	3.2	6.7	3.4
Prepayment & Other Current Assets	-	-	-	0.6	0.2
Other Current Assets	4.8	0.3	0.2	-	-
Prepaid Expenses	0.1	0.3	0.1	-	-
Prepayment	1.6	0.2	0.0	-	-
Total Current Assets	52.6	43.7	24.2	40.6	33.1
Financial Assets -Cost Method	-	0.0	0.0	0.2	0.3
Land and Improvements	22.2	23.1	21.0	20.5	20.7
Buildings and Structures	15.0	15.3	14.6	14.3	14.0
Machinery and Equipment	20.9	19.4	21.5	21.9	23.1
Environmental Equipment	1.7	1.6	1.7	1.7	2.0
Transportation Equipment	0.5	0.2	0.2	0.2	1.5
Office Equipment	0.0	0.0	0.2	0.4	0.4
Miscellaneous Equipment	3.2	3.2	3.4	2.7	2.9
Accumulated Depreciation	-25.2	-23.7	-27.1	-24.3	-25.1
Provision for Impairment of Fixed Assets	-0.2	-0.2	-1.3	-1.2	-1.3
Constr. in Progress & Prepay for Equip.	2.2	0.1	2.0	0.7	0.2
Goodwill	0.0	0.0	0.0	0.0	0.0
Deferred Pension Cost	0.0	0.0	0.0	0.0	0.0
Land Use Right	1.5	1.5	1.4	1.4	1.4
Idle Assets	-	-	-	0.0	0.0
Other Long Term Assets	0.2	0.1	0.0	0.3	0.0
Total Assets	94.6	84.3	62.0	79.5	73.2
Short Term Borrowings	19.6	15.0	14.9	25.9	19.9
Short Term Notes & Bills Payable	2.3	-	-	-	-
Current Portion of Long Term Debt	4.4	5.8	2.6	1.9	2.5
Notes Payable	1.1	0.6	0.7	0.4	0.5
Notes Payable - Related Parties	-	-	-	-	0.0
Other Notes Payable - Related Parties	-	-	-	0.6	0.1
Accounts Payable	3.2	4.1	1.4	3.5	3.4
Accounts Payable - Related Parties	-	0.0	0.4	-	-
Current Portion of Lease Payment	-	-	-	0.1	0.2
Accrued Expenses & Other Current Liab.	-	-	-	1.4	1.3
Accrued Expenses	1.7	1.7	0.9	-	-
Other Payables	0.5	0.0	0.0	-	-
Other Current Liabilities	0.3	0.3	0.3	-	-
Total Current Liabilities	33.1	27.5	21.3	33.8	27.9
Long Term Borrowings	18.8	16.9	7.9	5.2	6.4
Lease Payable	-	-	-	0.0	0.1
Total Long Term Debt	18.8	16.9	7.9	5.2	6.4
Accrued Pension Liabilities	1.6	1.1	1.0	0.9	0.7
Deferred Tax Liabilities	0.2	0.4	0.5	0.6	0.4
Minority Interest	2.9	2.7	2.5	3.0	2.8
Total Liabilities	56.6	48.6	33.2	43.5	38.3
Common Stock	36.2	38.4	35.0	34.1	34.5
Legal Reserve	0.0	0.0	0.1	0.1	0.1
Special Reserve	-	0.0	0.2	0.2	0.2
Retained Earnings	0.8	-3.3	-7.3	0.6	-0.5
Cumulative Translation Adjustment	1.8	1.1	1.2	1.3	0.9
Unrealized Gain/Loss on Pension Fund	-0.9	-0.4	-0.4	-0.3	-0.2
Cap. Surplus, Treasury Stock Transaction	0.2	-	-	-	-
Total Equity	38.0	35.7	28.8	35.9	34.9
Total Liabilities & Shareholders' Equity	94.6	84.3	62.0	79.5	73.2
S/O-Ordinary Stock	111.9	111.9	111.9	111.9	111.9
Total Common Shares Outstanding	111.9	111.9	111.9	111.9	111.9
T/S-Ordinary Stock	0.0	0.0	0.0	0.0	0.0
Full-Time Employees	269	239	241	254	257
Number of Common Shareholders	-	11,526	11,589	12,376	10,795
Long Term Debt due in 1 year	4.4	5.8	2.6	1.9	2.5
Long Term Debt due in 2 years	14.3	7.5	7.9	3.2	1.9
Long Term Debt due in 3 years	2.6	4.7	-	1.9	2.5
Long Term Debt due in 4 years	1.9	2.7	-	0.0	2.0
Long Term Debt due after 5 years	-	2.0	-	-	-
Total Long Term Debt, Supplemental	23.3	22.7	10.5	7.1	8.9
Capital Lease due in 1 year	-	-	-	-	0.2
Capital Lease due in 2 years	-	-	-	-	0.1
Interest Costs	-	-	-	-	0.0
Total Capital Leases	-	-	-	-	0.3
Accumulated Benefit Obligation	2.4	1.9	1.7	1.4	1.3
Projected Benefit Obligation	2.5	2.0	1.8	1.5	1.4
Fair Value of Plan Assets	0.8	0.8	0.6	0.6	0.6
Funed Status	-1.7	-1.2	-1.1	-1.0	-0.8
Total Funded Status	-1.7	-1.2	-1.1	-1.0	-0.8
Discount Rate	2.00%	2.25%	2.25%	2.25%	3.25%
Rate of Compensation Increase	1.00%	1.00%	1.00%	1.00%	1.00%
Expected Return on Plan Assets	2.00%	2.25%	2.25%	2.25%	3.25%
Deferred Pension Cost	-	0.0	0.0	0.0	0.0
Accrued Pension Liabilities	-1.6	-1.1	-1.0	-0.9	-0.7
Net Assets Recognized on Balance Sheet	-1.6	-1.1	-1.0	-0.8	-0.7

Interim Balance Sheet

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011	31-Dec-2010
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011	Updated Normal 31-Dec-2010
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate	30.279	30.475	28.7235	29.4065	29.1565
Cash and Cash Equivalent	5.2	3.8	6.8	3.6	2.7
Notes Receivable	4.3	3.6	5.7	6.1	4.1
Notes Receivable - Related Parties	0.5	0.8	1.0	0.6	0.6
Accounts Receivable, Gross	8.3	9.9	10.7	12.2	9.5
Provision for Doubtful Accounts	-0.1	-0.1	-0.1	-0.3	-0.3
Accounts Receivable - Related Parties	0.6	0.7	0.8	0.9	0.4
Other Receivables - Related Parties	0.0	-	-	-	0.0
Other Financial Assets - Current	0.1	0.0	0.0	0.0	0.0
Raw Material	17.3	18.1	12.3	15.1	13.6
Supplies	0.1	0.1	0.1	0.1	0.1
Work-in-Process	0.6	0.7	0.6	0.7	0.5
Finished Goods	7.6	5.5	5.0	3.6	5.4
Merchandise	0.0	0.0	0.0	0.0	0.0
Inventory in Transit	1.5	0.0	0.7	0.4	2.8
Prepaid Expenses	0.1	0.1	0.1	0.2	0.3
Prepayment	1.6	0.3	0.3	0.5	0.2
Restricted Assets	-	3.8	4.1	4.3	3.6
Other Current Assets	4.8	0.2	0.3	0.1	0.3
Total Current Assets	52.6	47.4	48.3	48.2	43.7
Financial Assets -Cost Method	-	0.0	0.0	-	0.0
Land and Improvements	22.2	22.1	23.4	22.9	23.1
Buildings and Structures	15.0	14.8	15.5	15.1	15.3
Machinery and Equipment	20.9	19.4	19.8	19.3	19.4
Environmental Equipment	1.7	1.7	1.6	1.6	1.6
Transportation Equipment	0.5	0.4	0.4	0.4	0.2
Office Equipment	0.0	0.0	0.0	0.0	0.0
Miscellaneous Equipment	3.2	3.3	3.3	3.3	3.2
Accumulated Depreciation	-25.2	-24.7	-25.2	-24.1	-23.7
Provision for Impairment of Fixed Assets	-0.2	-0.2	-0.2	-0.2	-0.2
Constr. in Progress & Prepay for Equip.	2.2	2.1	0.9	0.5	0.1
Goodwill	0.0	0.0	0.0	0.0	0.0
Deferred Pension Cost	0.0	0.0	0.0	0.0	0.0
Land Use Right	1.5	1.5	1.5	1.5	1.5
Idle Assets	-	-	0.0	-	-
Other Long Term Assets	0.2	0.1	0.1	0.1	0.1
Total Assets	94.6	88.1	89.6	88.7	84.3
Short Term Borrowings	19.6	17.5	13.8	17.2	15.0
Fin. Liabilities-FV through P/L, Current	-	-	0.0	-	-
Short Term Notes & Bills Payable	2.3	1.0	-	-	-
Current Portion of Long Term Debt	4.4	6.0	6.2	7.6	5.8
Notes Payable	1.1	0.8	0.8	0.7	0.6
Accounts Payable	3.2	2.2	2.8	4.9	4.1
Accounts Payable - Related Parties	-	-	0.0	-	0.0
Accrued Expenses	1.7	1.4	1.4	1.0	1.7
Other Payables	0.5	0.0	0.0	0.0	0.0
Other Current Liabilities	0.3	0.4	0.3	0.3	0.3
Total Current Liabilities	33.1	29.4	25.3	31.8	27.5
Long Term Borrowings	18.8	15.8	20.0	16.0	16.9
Total Long Term Debt	18.8	15.8	20.0	16.0	16.9
Accrued Pension Liabilities	1.6	1.1	1.1	1.1	1.1
Deferred Tax Liabilities	0.2	0.5	0.4	0.4	0.4
Minority Interest	2.9	2.9	2.9	2.8	2.7
Total Liabilities	56.6	49.5	49.7	52.0	48.6
Common Stock	36.2	36.7	38.9	38.0	38.4
Legal Reserve	0.0	0.0	0.0	0.0	0.0
Special Reserve	-	-	-	0.0	0.0
Retained Earnings	0.8	0.8	0.3	-2.1	-3.3
Cumulative Translation Adjustment	1.8	1.5	1.1	1.1	1.1
Unrealized Gain/Loss on Pension Fund	-0.9	-0.4	-0.4	-0.4	-0.4
Cap. Surplus, Treasury Stock Transaction	0.2	-	-	-	-
Total Equity	38.0	38.6	39.9	36.7	35.7
Total Liabilities & Shareholders' Equity	94.6	88.1	89.6	88.7	84.3
S/O-Ordinary Stock	111.9	111.9	111.9	111.9	111.9
Total Common Shares Outstanding	111.9	111.9	111.9	111.9	111.9
T/S-Ordinary Stock	0.0	0.0	0.0	0.0	0.0
Full-Time Employees	269	-	252	-	239
Long Term Debt due in 1 year	4.4	6.0	6.2	7.6	5.8
Long Term Debt due in 2 years	14.3	10.6	11.9	7.9	7.5
Long Term Debt due in 3 years	2.6	2.6	4.7	4.0	4.7
Long Term Debt due in 4 years	1.9	2.6	2.7	2.7	2.7
Long Term Debt due after 5 years	-	-	0.7	1.3	2.0
Total Long Term Debt, Supplemental	23.3	21.8	26.2	23.5	22.7
Deferred Pension Cost	-	0.0	0.0	0.0	0.0
Accrued Pension Liabilities	-1.6	-1.1	-1.1	-1.1	-1.1
Net Assets Recognized on Balance Sheet	-1.6	-1.1	-1.1	-1.1	-1.1

Annual Cash Flows

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 31-Dec-2010	Updated Normal 31-Dec-2009	Updated Normal 31-Dec-2008	Updated Normal 31-Dec-2007
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	29.39004	31.497037	33.023867	31.543497	32.848802
Auditor	KPMG LLP	KPMG Peat Marwick LLP	KPMG Peat Marwick LLP	KPMG LLP	KPMG LLP
Auditor Opinion	Unqualified	Unqualified with Explanation	Unqualified with Explanation	Unqualified with Explanation	Unqualified
Net Income	4.1	4.4	-8.2	1.2	-0.4
Depreciation	2.5	2.4	2.9	3.4	3.3
Amortization of Intangibles	0.1	0.0	0.1	0.1	0.1
Provision of Bad Debts	-0.2	-0.4	0.1	0.6	0.2
Gain/Loss Inventory Devaluation	-0.1	-0.5	-2.6	3.7	-0.1
Other Investment Loss	-	0.0	0.1	0.0	-
Other Expense-Fixed Assets	0.0	0.0	0.0	0.0	0.0
Gain/Loss on Disposal of Properties	-	0.0	0.0	0.0	0.0
Deferred Tax	-0.1	-0.1	-0.1	0.0	0.1
Provision for Impairment Loss	0.0	-0.6	0.0	0.1	0.1
Gain/Loss on Disposal of Fixed Assets	0.0	-	-	-	-
Notes & Accounts Receivable	-	-	-2.8	7.1	-4.9
Other Receivables-Related Parties	0.0	0.0	-	-	-
Inventories	-5.6	-10.5	18.3	-16.4	-0.1
Other Financial Assets	-0.1	0.0	0.0	0.1	0.0
Prepayment & Other Current Assets	-	-	0.4	-0.4	0.0
Other Current Assets	0.0	0.0	-	-	-
Notes & Accounts Payable	-	-	-1.4	0.0	0.3
Accrued Expenses & Other Current Liab.	-	-	-0.2	0.2	0.2
Accrued Pension Liabilities	0.0	0.0	0.1	0.1	0.1
Notes Receivable	-0.4	-1.8	-	-	-
Notes Receivable-Related Parties	0.0	-0.5	-	-	-
Accounts Receivable	0.9	-1.0	-	-	-
Accounts Receivable-Related Parties	-0.2	-0.1	-	-	-
Prepaid Expense	0.2	-0.2	-	-	-
Prepayment	-1.5	-0.2	-	-	-
Notes Payable	0.5	-0.1	-	-	-
Accounts Payable	-0.8	2.3	-	-	-
Accounts Payable,Related Parties	0.0	-0.4	-	-	-
Other Payables	0.1	0.0	-	-	-
Accrued Expenses	0.1	0.6	-	-	-
Other Current Liabilities	0.1	0.0	-	-	-
Cash from Operating Activities	-0.6	-6.6	6.7	-0.4	-1.2
Capital Reduction in Investee Company	-	-	-	0.0	0.1
Capital Expenditure	-4.8	-1.3	-1.5	-2.0	-0.5
Disposal of Fixed Assets	0.0	0.0	0.0	0.0	0.0
Restricted Assets	-0.9	0.0	3.6	-3.4	-1.2
Other Assets	0.0	-0.1	0.1	-0.7	0.0
Deferred Charges Increase	0.0	0.0	-	-	-
Cash from Investing Activities	-5.7	-1.4	2.1	-6.1	-1.7
Short Term Borrowings, Net	5.3	-1.3	-11.0	6.5	5.6
Short Term Notes, Net	-	-	-	-	0.0
Repayment of LT Borrowings	-6.7	-1.9	-0.9	-1.7	-2.4
LT Borrowings Increase	8.2	12.3	3.6	-	0.0
Inc Other Notes Paybl-Related Parties	-	-	-0.6	0.5	-0.3
Increase Other Payables-Related Parties	-	-	-	-	0.0
LT Notes Payable-Related Parties	-	-	-	-	0.0
Lease Payable	-	0.0	-0.1	-0.2	-0.2
Cash Capital	-	-	-	0.0	1.8
Minority Interest	0.0	-0.4	-	-	-
Short Term Notes&Bills Payable Increase	2.4	-	-	-	-
Purchase of Treasury Shares	-0.6	-	-	-	-
Cash from Financing Activities	8.6	8.8	-8.9	5.1	4.5
Foreign Exchange Effects	0.4	-0.1	-0.1	0.4	0.2
Net Change in Cash	2.7	0.7	-0.1	-1.1	1.9
Net Cash - Beginning Balance	2.6	1.8	1.8	3.0	1.0
Net Cash - Ending Balance	5.3	2.5	1.7	1.9	2.9
Cash Interest Paid	1.1	1.1	1.3	1.7	1.8
Cash Taxes Paid	0.0	0.0	0.0	0.3	0.0

Interim Cash Flows

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011	31-Dec-2010
Period Length	12 Months	9 Months	6 Months	3 Months	12 Months
UpdateType/Date	Updated Normal 31-Dec-2011	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011	Updated Normal 31-Dec-2010
Filed Currency	TWD	TWD	TWD	TWD	TWD
Exchange Rate (Period Average)	29.39004	29.099862	29.074238	29.305764	31.497037
Net Income	4.1	4.2	3.7	1.2	4.4
Depreciation	2.5	1.9	1.3	0.6	2.4
Amortization of Intangibles	0.1	0.0	0.0	0.0	0.0
Provision of Bad Debts	-0.2	-0.2	-0.2	-	-0.4
Gain/Loss Inventory Devaluation	-0.1	-0.1	-0.1	-	-0.5
Other Investment Loss	-	-	-	-	0.0
Provision for Impairment Loss	0.0	0.0	-	-	-0.6
Other Expense-Fixed Assets	0.0	0.0	0.0	-	0.0
Gain/Loss on Disposal of Fixed Assets	0.0	0.0	-	-	0.0
Deferred Tax	-0.1	0.0	0.0	-	-0.1
Other Receivables-Related Parties	-	0.0	-	-	0.0
Notes Receivable	-0.4	0.4	-1.5	-2.1	-1.8
Notes Receivable-Related Parties	0.0	-0.3	-0.4	0.0	-0.5
Accounts Receivable	0.9	-0.8	-1.0	-2.8	-1.0
Accounts Receivable-Related Parties	-0.2	-0.3	-0.4	-	-0.1
Other Receivables	0.0	-	-	-0.5	-
Inventories	-5.6	-3.1	4.1	2.2	-10.5
Prepaid Expense	0.2	0.1	0.2	0.1	-0.2
Prepayment	-1.5	-0.1	-0.1	-0.3	-0.2
Other Current Assets	0.0	0.1	-0.1	0.2	0.0
Other Financial Assets-Current	-0.1	0.0	0.0	0.0	0.0
Financial Liablity-Fair Value, Current	-	-	0.0	-	-
Notes Payable	0.5	0.3	0.2	0.1	-0.1
Accounts Payable	-0.8	-1.8	-1.3	0.8	2.3
Accounts Payable,Related Parties	0.0	0.0	0.0	-	-0.4
Accrued Expenses	0.1	-0.2	-0.3	-0.6	0.6
Other Payables	0.1	0.0	0.0	0.0	0.0
Other Current Liabilities	0.1	0.1	0.1	0.0	0.0
Accrued Pension Liabilities	0.0	0.0	0.0	0.0	0.0
Cash from Operating Activities	-0.6	0.4	4.2	-0.9	-6.6
Restricted Assets	-0.9	-0.4	-0.5	-0.8	0.0
Dis. of Fix. Ass/Dis. of Fix. & Idle Ass	0.0	0.0	-	-	0.0
Capital Expenditure	-4.8	-3.5	-1.3	-0.8	-1.3
Security Deposit Paid	0.0	0.0	-	-	-0.1
Deferred Charges Increase	0.0	-	-	-	0.0
Cash from Investing Activities	-5.7	-3.9	-1.8	-1.6	-1.4
Short Term Borrowings, Net	5.3	3.3	-1.5	2.3	-1.3
Short Term Notes Increase	-	1.0	-	-	-
LT Borrowings Increase	8.2	5.6	5.2	1.7	12.3
Repayment of LT Borrowings	-6.7	-5.5	-2.0	-0.7	-1.9
Lease Payable	-	-	-	-	0.0
Minority Interest	0.0	-	-	-	-0.4
Short Term Notes&Bills Payable Increase	2.4	-	-	-	-
Purchase of Treasury Shares	-0.6	-	-	-	-
Cash from Financing Activities	8.6	4.4	1.7	3.3	8.8
Foreign Exchange Effects	0.4	0.4	0.0	0.1	-0.1
Net Change in Cash	2.7	1.3	4.0	0.9	0.7
Net Cash - Beginning Balance	2.6	2.7	2.7	2.7	1.8
Net Cash - Ending Balance	5.3	3.9	6.7	3.6	2.5
Cash Interest Paid	1.1	1.0	0.5	0.4	1.1
Cash Taxes Paid	0.0	0.0	0.0	0.0	0.0

Geographic Segments

Financials in: As Reported (mil)

Annual

External Revenue   USD (mil)
	31-Dec-11		31-Dec-10		31-Dec-09		31-Dec-08		31-Dec-07
Taiwan	65.9	81.8 %	55.5	77.8 %	32.0	73.1 %	50.1	71.1 %	45.2	74.9 %
China	14.6	18.2 %	15.8	22.2 %	-	-	-	-	-	-
Other Foreign	-	-	15.8	22.2 %	11.8	26.9 %	20.4	28.9 %	15.2	25.1 %
Segment Total	80.5	100 %	71.4	100 %	43.8	100 %	70.5	100 %	60.4	100 %
Intercompany Eliminations	-	-	0.0	0 %	-0.1	-0.2 %	-2.3	-3.2 %	-0.5	-0.8 %
Consolidated Total	80.5	100 %	71.4	100 %	43.7	99.8 %	68.3	96.8 %	59.9	99.2 %
Exchange Rate: TWD to USD	29.390040		31.497037		33.023867		31.543497		32.848802
Total Revenue   USD (mil)
	31-Dec-11		31-Dec-10		31-Dec-09		31-Dec-08		31-Dec-07
Taiwan	65.9	81.8 %	55.5	77.8 %	32.0	73.1 %	50.1	71.1 %	45.2	74.9 %
China	14.6	18.2 %	15.8	22.2 %	-	-	-	-	-	-
Other Foreign	-	-	15.8	22.2 %	11.8	26.9 %	20.4	28.9 %	15.2	25.1 %
Segment Total	80.5	100 %	71.4	100 %	43.8	100 %	70.5	100 %	60.4	100 %
Intercompany Eliminations	-	-	0.0	0 %	-0.1	-0.2 %	-2.3	-3.2 %	-0.5	-0.8 %
Consolidated Total	80.5	100 %	71.4	100 %	43.7	99.8 %	68.3	96.8 %	59.9	99.2 %
Exchange Rate: TWD to USD	29.390040		31.497037		33.023867		31.543497		32.848802

Operating Income/Loss   USD (mil)
	31-Dec-10			31-Dec-09
Taiwan	3.5		74 %	-5.6		80.3 %
Other Foreign	1.2		26 %	-1.4		19.7 %
Segment Total	4.7		100 %	-7.0		100 %
Intercompany Eliminations	0.1		1.9 %	0.1		-1.2 %
Consolidated Total	4.8		101.9 %	-6.9		98.8 %
Exchange Rate: TWD to USD	31.497037			33.023867
Operating Margin (%)
		31-Dec-10			31-Dec-09
Taiwan		6.3		-	-17.6		-
Other Foreign		7.7		-	-11.7		-
Segment Total		6.6		-	-16.0		-
Intercompany Eliminations		-359.7		-	-92.2		-
Consolidated Total		6.7		-	-15.9		-

Income Before Tax   USD (mil)
	31-Dec-10			31-Dec-09			31-Dec-08			31-Dec-07
Taiwan	66.4	84.1 %		49.5	82.4 %		5.8		82.9 %	0.9		125.2 %
Other Foreign	12.6	15.9 %		10.6	17.6 %		1.2		17.1 %	-0.2		-25.2 %
Segment Total	79.0	100 %		60.1	100 %		7.0		100 %	0.7		100 %
Intercompany Eliminations	-1.0	-1.3 %		-0.1	-0.1 %		0.1		1.3 %	0.1		14.4 %
Corporate Expense/Other	-	-		-	-		-5.6		-80 %	-1.2		-164 %
Consolidated Total	78.0	98.7 %		60.0	99.9 %		1.5		21.3 %	-0.4		-49.6 %
Exchange Rate: TWD to USD	31.497037			33.023867			31.543497			32.848802
Pre-Tax Margin (%)
			31-Dec-10			31-Dec-09			31-Dec-08		31-Dec-07
Taiwan			119.6		-	154.8		-	11.6	-	2.0		-
Other Foreign			79.6		-	89.7		-	5.9	-	-1.2		-
Segment Total			110.7		-	137.3		-	10.0	-	1.2		-
Intercompany Eliminations			4,233.6		-	85.5		-	-4.2	-	-20.7		-
Consolidated Total			109.3		-	137.4		-	2.2	-	-0.6		-

Long Lived Assets   USD (mil)
				31-Dec-11				31-Dec-10
Taiwan				37.5		89.4 %		35.4		87.3 %
China				4.5		10.6 %		5.2		12.7 %
Segment Total				42.0		100 %		40.5		100 %
Consolidated Total				42.0		100 %		40.5		100 %
Exchange Rate: TWD to USD				30.279000				29.156500
Total Assets   USD (mil)
	31-Dec-10		31-Dec-09			31-Dec-08			31-Dec-07
Taiwan	2.4	89 %	2.3		77.5 %	66.0	82.8 %		59.2	81.1 %
Other Foreign	0.3	11 %	0.7		22.5 %	13.7	17.2 %		13.8	18.9 %
Segment Total	2.6	100 %	3.0		100 %	79.7	100 %		73.1	100 %
Intercompany Eliminations	0.0	-0.3 %	0.0		-0.3 %	-0.4	-0.6 %		-0.1	-0.1 %
Corporate Expense/Other	-	-	-		-	0.2	0.3 %		0.3	0.4 %
Consolidated Total	2.6	99.7 %	3.0		99.7 %	79.5	99.7 %		73.2	100.2 %
Exchange Rate: TWD to USD	29.156500		31.985000			32.818000			32.434500

Operating Return on Assets (%)
					31-Dec-10			31-Dec-09
Taiwan					159.5		-	-249.1	-
Other Foreign					454.3		-	-211.2	-
Segment Total					192.0		-	-240.5	-
Intercompany Eliminations					-1,268.6		-	-919.9	-
Consolidated Total					196.2		-	-238.4	-
Purchase of Fixed Assets   USD (mil)
	31-Dec-10		31-Dec-09			31-Dec-08		31-Dec-07
Taiwan	1.2	99 %	1.4	98.4 %		1.9	94.5 %	0.5	94.9 %
Other Foreign	0.0	1 %	0.0	1.6 %		0.1	5.5 %	0.0	5.1 %
Segment Total	1.2	100 %	1.5	100 %		2.0	100 %	0.5	100 %
Intercompany Eliminations	-	-	-	-		0.0	0 %	0.0	0 %
Consolidated Total	1.2	100 %	1.5	100 %		2.0	100 %	0.5	100 %
Exchange Rate: TWD to USD	31.497037		33.023867			31.543497		32.848802

Geographic Segments

Financials in: As Reported (mil)

Interim

External Revenue   USD (mil)
	30-Jun-11		31-Mar-11				30-Jun-10			31-Mar-10
Taiwan	18.5	82.5 %	19.4		83.5 %		15.8		77.8 %	14.1		79.2 %
China	3.9	17.5 %	3.8		16.5 %		4.5		22.2 %	3.7		20.8 %
Segment Total	22.5	100 %	23.2		100 %		20.3		100 %	17.8		100 %
Consolidated Total	22.5	100 %	23.2		100 %		20.3		100 %	17.8		100 %
Exchange Rate: TWD to USD	28.855204		29.305764				31.824532			31.921093
Intersegment Revenue   USD (mil)
				30-Jun-11				31-Mar-11
Taiwan				0.1		100 %		0.2			100 %
Segment Total				0.1		100 %		0.2			100 %
Intercompany Eliminations				-0.1		-100 %		-0.2			-100 %
Consolidated Total				0.0		0 %		0.0			0 %
Exchange Rate: TWD to USD				28.855204				29.305764

Total Revenue   USD (mil)
	30-Jun-11		31-Mar-11		30-Jun-10		31-Mar-10
Taiwan	18.6	82.6 %	19.6	83.7 %	15.8	77.8 %	14.1	79.2 %
China	3.9	17.4 %	3.8	16.3 %	4.5	22.2 %	3.7	20.8 %
Segment Total	22.5	100 %	23.4	100 %	20.3	100 %	17.8	100 %
Intercompany Eliminations	-0.1	-0.2 %	-0.2	-0.8 %	-	-	-	-
Consolidated Total	22.5	99.8 %	23.2	99.2 %	20.3	100 %	17.8	100 %
Exchange Rate: TWD to USD	28.855204		29.305764		31.824532		31.921093
Income After Tax   USD (mil)
	30-Jun-11		31-Mar-11		30-Jun-10		31-Mar-10
Taiwan	2.4	91.7 %	1.2	99.5 %	1.6	79.2 %	0.9	78.5 %
China	0.2	8.3 %	0.0	0.5 %	0.4	20.8 %	0.2	21.5 %
Segment Total	2.6	100 %	1.2	100 %	2.0	100 %	1.1	100 %
Intercompany Eliminations	-0.1	-5.7 %	0.0	-0.4 %	-0.3	-13.6 %	-0.2	-14 %
Consolidated Total	2.4	94.3 %	1.2	99.6 %	1.8	86.4 %	1.0	86 %
Exchange Rate: TWD to USD	28.855204		29.305764		31.824532		31.921093

Net Profit Margin (%)
	30-Jun-11		31-Mar-11		30-Jun-10		31-Mar-10
Taiwan	12.8	-	6.3	-	10.2	-	6.3	-
China	5.5	-	0.2	-	9.4	-	6.6	-
Segment Total	11.5	-	5.3	-	10.0	-	6.4	-
Intercompany Eliminations	266.3	-	2.4	-	-	-	-	-
Consolidated Total	10.9	-	5.3	-	8.7	-	5.5	-

Bottom of Form

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.87
UK Pound	1	Rs.86.46
Euro	1	Rs.69.49

INFORMATION DETAILS

Report Prepared by :

PRL

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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