MIRA
INFORM REPORT
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Report Date : |
19.04.2013 |
IDENTIFICATION DETAILS
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Name : |
SHINKONG SYNTHETIC FIBER CORPORATION |
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Registered Office : |
8th F., No. 123, Sec. 2, Nanking E. Road, Taipei, 104 |
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Country : |
Taiwan |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
17.03.1967 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
Subject is engaged in the manufacture and distribution of
synthetic fibers |
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No. of Employees : |
3891 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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Taiwan |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Taiwan - ECONOMIC OVERVIEW
Taiwan has a dynamic capitalist economy with gradually decreasing
government guidance of investment and foreign trade. Exports, led by
electronics, machinery, and petrochemicals have provided the primary impetus
for economic development. This heavy dependence on exports exposes the economy
to fluctuations in world demand. In 2009, Taiwan's GDP contracted 1.8%, due
primarily to a 13.1% year-on-year decline in exports. In 2010 GDP grew 10.7%,
as exports returned to the level of previous years, and in 2011, grew 4.1%. In
2012, however, growth fell to 1.3%, because of softening global demand.
Taiwan's diplomatic isolation, low birth rate, and rapidly aging population are
major long-term challenges. Free trade agreements have proliferated in East
Asia over the past several years, but except for the landmark Economic
Cooperation Framework Agreement (ECFA) signed with China in June 2010, so far
Taiwan has been excluded from this greater economic integration in part because
of its diplomatic status. Negotiations continue on such follow-on components of
ECFA regarding trade in goods and services. The MA administration has said that
the ECFA will serve as a stepping stone toward trade pacts with other key trade
partners, which Taiwan subsequently launched with Singapore and New Zealand.
Taiwan's Total Fertility rate of just over one child per woman is among the
lowest in the world, raising the prospect of future labor shortages, falling
domestic demand, and declining tax revenues. Taiwan's population is aging
quickly, with the number of people over 65 accounting for 11.2% of the island's
total population as of 2012. The island runs a large trade surplus largely
because of its surplus with China, and its foreign reserves are the world's
fifth largest, behind China, Japan, Saudi Arabia, and Russia. In 2006 China
overtook the US to become Taiwan's second-largest source of imports after
Japan. China is also the island's number one destination for foreign direct
investment. Three financial memorandums of understanding, covering banking, securities,
and insurance, took effect in mid-January 2010, opening the island to greater
investments from the mainland's financial firms and institutional investors,
and providing new opportunities for Taiwan financial firms to operate in China.
In August 2012, Taiwan Central Bank signed a memorandum of understanding on
cross-Strait currency settlement with its Chinese counterpart. The MOU allows
for the direct settlement of Chinese RMB and the New Taiwan dollar across the
Strait, which could help develop Taiwan into a local RMB hub. Closer economic
links with the mainland bring greater opportunities for the Taiwan economy, but
also poses new challenges as the island becomes more economically dependent on
China while political differences remain unresolved.
Source : CIA
Company name & address
Shinkong Synthetic Fiber Corporation
8th F., No. 123, Sec. 2
Nanking E. Road
Taipei, 104
Taiwan
Tel: 886-2-25071251
Fax: 886-2-25072264
Web: www.shinkong.com.tw
Synthesis
Employees: 3,891
Company Type: Public Parent
Corporate Family: 5
Companies
Traded: Taiwan Stock
Exchange: 1409
Incorporation Date:
17-Mar-1967
Auditor: Deloitte & Touche LLP
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2011
Reporting Currency:
Taiwanese New Dollar
Annual Sales: 1,444.2 1
Net Income: 42.9
Total Assets: 3,383.5 2
Market Value: 542.1 (23-Nov-2012)
Business Description
Shinkong Synthetic Fibers Corp is primarily engaged in the manufacture and distribution of synthetic fibers. The Company provides chemical fibers, including polyester staple fibers, polyester chips, industrial polyester yarns and textured filament yarns, among others; elastic and functional fibers, including bamboo charcoal yarns, memory fibers and environmental protection fibers, among others, as well as plastic products, including polyester chips for bottles, polyester thin films and industrial plastic products, among others. Its products are applied in the manufacture of apparels, bottles, decorations, industrial products, electric motors, automobile parts, household appliances and packaging materials, among others. For the six months ended 30 June 2012, Shinkong Synthetic Fiber Corporation revenues decreased 2% to NT$21.27B. Net income decreased 58% to NT$423.9M. Revenues reflect Polyester segment decrease of 37% to NT$17.82B, Photoelectric segment decrease of 22% to NT$2.56B, Finance & Securities segment decrease of 36% to NT$808.9M. Net income also reflects Polyester segment income decrease of 75% to NT$511.1M.
Industry
Industry Chemicals - Plastics and Rubber
ANZSIC 2006: 1821 - Synthetic
Resin and Synthetic Rubber Manufacturing
NACE 2002: 2416 - Manufacture
of plastics in primary forms
NAICS 2002: 325211 - Plastics
Material and Resin Manufacturing
UK SIC 2003: 2416 - Manufacture
of plastics in primary forms
UK SIC 2007: 2016 - Manufacture
of plastics in primary forms
US SIC 1987: 2821 - Plastics
Materials, Synthetic Resins, and Nonvulcanizable Elastomers
Key Executives
|
Name |
Title |
|
Qifeng He |
Head of Finance and Accounting, Assistant General Manager |
|
Zhimin Yang |
Deputy General Manager |
|
Ho Hsien-Chung |
President |
|
Chi-Feng Ho |
Head of Finance & Accounts |
|
Hsien-Cong Ho |
Vice President-Administration |
Significant Developments
|
Topic |
#* |
Most Recent Headline |
Date |
|
Divestitures |
1 |
Shinkong Synthetic Fibers Corporation Sells Equity Shares of UBright
Optronics Corp |
6-Apr-2012 |
|
Dividends |
1 |
Shinkong Synthetic Fibers Corporation Announces FY 2011 Dividend
Payment Date |
10-Jul-2012 |
* number of
significant developments within the last 12 months
Financial Summary
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Stock
Snapshot
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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
8th F., No. 123, Sec. 2
Nanking E. Road
Taipei, 104
Taiwan
Tel: 886-2-25071251
Fax: 886-2-25072264
Web: www.shinkong.com.tw
Quote Symbol - Exchange
1409 - Taiwan
Stock Exchange
Sales TWD(mil): 42,446.0
Assets TWD(mil): 102,449.9
Employees: 3,891
Fiscal Year End: 31-Dec-2011
Industry: Chemicals
- Plastics and Rubber
Incorporation Date: 17-Mar-1967
Company Type: Public
Parent
Quoted Status: Quoted
President: Ho
Hsien-Chung
Company Web Links
Company Contact/E-mail
Corporate History/Profile
Financial Information
Home Page
News Releases
Products/Services
Contents
Industry Codes
Business Description
Financial Data
Market Data
Subsidiaries
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
1821 - Synthetic Resin and Synthetic Rubber Manufacturing
1911 - Polymer Film and Sheet Packaging Material Manufacturing
1829 - Other Basic Polymer Manufacturing
2429 - Other Electronic Equipment Manufacturing
NACE 2002 Codes:
2416 - Manufacture of plastics in primary forms
2465 - Manufacture of prepared unrecorded media
2521 - Manufacture of plastic plates, sheets, tubes and profiles
2470 - Manufacture of man-made fibres
NAICS 2002 Codes:
325211 - Plastics Material and Resin Manufacturing
326113 - Unlaminated Plastics Film and Sheet (except Packaging)
Manufacturing
334613 - Magnetic and Optical Recording Media Manufacturing
325222 - Noncellulosic Organic Fiber Manufacturing
US SIC 1987:
2821 - Plastics Materials, Synthetic Resins, and Nonvulcanizable
Elastomers
2824 - Manmade Organic Fibers, Except Cellulosic
3695 - Magnetic and Optical Recording Media
3081 - Unsupported Plastics Film and Sheet
UK SIC 2003:
2416 - Manufacture of plastics in primary forms
2465 - Manufacture of prepared unrecorded media
2470 - Manufacture of man-made fibres
2521 - Manufacture of plastic plates, sheets, tubes and profiles
UK SIC 2007:
2016 - Manufacture of plastics in primary forms
2221 - Manufacture of plastic plates, sheets, tubes and profiles
2060 - Manufacture of man-made fibres
2680 - Manufacture of magnetic and optical media
Business
Description
Shinkong Synthetic
Fibers Corp is primarily engaged in the manufacture and distribution of
synthetic fibers. The Company provides chemical fibers, including polyester
staple fibers, polyester chips, industrial polyester yarns and textured
filament yarns, among others; elastic and functional fibers, including bamboo
charcoal yarns, memory fibers and environmental protection fibers, among
others, as well as plastic products, including polyester chips for bottles,
polyester thin films and industrial plastic products, among others. Its
products are applied in the manufacture of apparels, bottles, decorations,
industrial products, electric motors, automobile parts, household appliances
and packaging materials, among others. For the six months ended 30 June 2012,
Shinkong Synthetic Fiber Corporation revenues decreased 2% to NT$21.27B. Net
income decreased 58% to NT$423.9M. Revenues reflect Polyester segment decrease
of 37% to NT$17.82B, Photoelectric segment decrease of 22% to NT$2.56B, Finance
& Securities segment decrease of 36% to NT$808.9M. Net income also reflects
Polyester segment income decrease of 75% to NT$511.1M.
More Business
Descriptions
Manufacture of
synthetic fibres including polyester filament, polyester film, video tapes, engineering
plastics, bottle grade chip, polyester bottles and nylon filament
Polyester Products Mfr
Shinkong Synthetic
Fibers Corporation (SSFC) is a chemical company, based in Taiwan. It manufactures
and markets polyester fibers and plastic products. The products offered by the
company includes textured filament yarn, POY , polyester staple fiber,
industrial yarn, polyester chips, PET bottle grade resin, PET bottles, PET
preform , engineering polymer and its compounded plastics, polyester film,
optical grade films and A-PET sheet. SSFC’s products are used in electronic
components, automotive components, home appliance products, mechanical
components, sporting equipment, precision components, medical equipments, food,
textile and packaging. The company produces 2,075 tons of polyester products
per day. It is an ISO 9001 certified company. SSFC is headquartered in Taipei,
Taiwan.The company reported revenues of (Taiwanese Dollars) TWD 42,446.01
million during the fiscal year ended December 2011, an increase of 10.99% over
2010. The operating profit of the company was TWD 1,789.83 million during the
fiscal year 2011, a decrease of 29.13% from 2010. The net profit of the company
was TWD 1,261.88 million during the fiscal year 2011, a decrease of 33.12% from
2010.
Artificial and
Synthetic Fibers and Filaments Manufacturing
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Corporate Family |
Corporate
Structure News: |
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Shinkong
Synthetic Fiber Corporation |
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Shinkong Synthetic Fiber Corporation |
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Company Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Taipei |
Taiwan |
Chemicals - Plastics and Rubber |
1,444.2 |
3,891 |
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Subsidiary |
Taipei City, Taipei |
Taiwan |
Electronic Instruments and Controls |
121.0 |
315 |
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Subsidiary |
Taipei City, Taipei |
Taiwan |
Fabricated Plastic and Rubber |
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130 |
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Subsidiary |
Weil Am Rhein, Baden-Württemberg |
Germany |
Motion Pictures |
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120 |
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Subsidiary |
Chunan Chen, Miaoli |
Taiwan |
Scientific and Technical Instruments |
|
100 |
Competitors Report
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Company Name |
Location |
Employees |
Ownership |
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AGI Corporation |
Taipei, Taiwan |
258 |
Public |
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China General Plastics Corporation |
Taipei, Taiwan |
940 |
Public |
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Daily Polymer |
Kaohsiung, Taiwan |
179 |
Public |
|
Formosa Plastics Corporation |
Kaohsiung, Taiwan |
6,629 |
Public |
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Formosa Plastics Group |
Taipei, Taiwan |
99,332 |
Private |
executive report
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Board of
Directors |
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Vice President |
Chairman |
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Chairman |
Chairman |
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Chairman of the Board |
Chairman |
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Vice Chairman |
Vice-Chairman |
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Vice Chairman of the Board |
Vice-Chairman |
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General Manager, Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Executives |
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President |
President |
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Head of Finance and Accounting, Assistant General Manager |
Division Head Executive |
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General Manager, Director |
Division Head Executive |
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Deputy General Manager |
Division Head Executive |
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Vice President-Administration |
Administration Executive |
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Head of Finance & Accounts |
Finance Executive |
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Director-Communications |
Corporate Communications Executive |
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Manager-Public Relations |
Public Relations Executive |
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Vice President-Research & Development |
Research & Development Executive |
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Manager-Purchasing |
Purchasing Executive |
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Vice President-Business |
Other |
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Deputy General Manager |
Other |
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Significant Developments
Shinkong Synthetic Fibers Corporation Announces FY 2011 Dividend Payment Date Jul 10, 2012
Shinkong Synthetic Fibers Corporation announced that it will pay cash dividends of NTD 548,462,105 (NTD 0.3 per share), to shareholders of record on August 10, 2012. The Company's shares will be traded ex-dividend on August 2, 2012.
Shinkong Synthetic Fibers Corporation Sells Equity Shares of UBright Optronics Corp Apr 06, 2012
Shinkong Synthetic Fibers Corporation announced that it has sold 2,388,000 shares of UBright Optronics Corp from August 4, 2011 to April 5, 2012, for NTD 360,316,135 in total. After that, the Company still holds a 49.80% stake in the target company, by holding 24,116,818 shares.
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 |
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UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
TWD |
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Exchange Rate
(Period Average) |
29.39004 |
31.497037 |
33.023867 |
31.543497 |
32.848802 |
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Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte & Touche
LLP |
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Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
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Net Sales |
1,388.0 |
1,166.8 |
862.6 |
970.1 |
948.0 |
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Revenue |
1,388.0 |
1,166.8 |
862.6 |
970.1 |
948.0 |
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Other Revenue |
56.2 |
47.3 |
41.2 |
52.9 |
32.0 |
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Other Revenue, Total |
56.2 |
47.3 |
41.2 |
52.9 |
32.0 |
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Total Revenue |
1,444.2 |
1,214.2 |
903.8 |
1,023.0 |
980.0 |
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Cost of Revenue |
1,274.0 |
1,022.1 |
790.3 |
927.8 |
879.4 |
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Cost of Revenue, Total |
1,274.0 |
1,022.1 |
790.3 |
927.8 |
879.4 |
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Gross Profit |
114.1 |
144.7 |
72.3 |
42.4 |
68.6 |
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Selling/General/Administrative Expense |
109.4 |
109.3 |
91.0 |
92.8 |
84.9 |
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Total Selling/General/Administrative Expenses |
109.4 |
109.3 |
91.0 |
92.8 |
84.9 |
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Impairment-Assets Held for Use |
0.0 |
2.5 |
2.1 |
-5.1 |
5.0 |
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Unusual Expense (Income) |
0.0 |
2.5 |
2.1 |
-5.1 |
5.0 |
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Total Operating Expense |
1,383.3 |
1,134.0 |
883.5 |
1,015.5 |
969.3 |
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Operating Income |
60.9 |
80.2 |
20.3 |
7.5 |
10.6 |
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Interest Expense -
Non-Operating |
-8.2 |
-7.6 |
-9.2 |
-15.5 |
-16.3 |
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Interest Expense, Net Non-Operating |
-8.2 |
-7.6 |
-9.2 |
-15.5 |
-16.3 |
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Interest Income -
Non-Operating |
1.3 |
0.5 |
1.1 |
1.8 |
3.2 |
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Investment Income - Non-Operating |
8.8 |
1.3 |
16.2 |
1.6 |
12.4 |
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Interest/Investment Income - Non-Operating |
10.1 |
1.9 |
17.3 |
3.5 |
15.6 |
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Interest Income (Expense) - Net Non-Operating Total |
1.9 |
-5.7 |
8.1 |
-12.0 |
-0.8 |
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Gain (Loss) on Sale of Assets |
2.5 |
18.8 |
-1.7 |
-1.6 |
3.9 |
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Other Non-Operating Income (Expense) |
4.1 |
3.8 |
5.9 |
4.7 |
4.8 |
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Other, Net |
4.1 |
3.8 |
5.9 |
4.7 |
4.8 |
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Income Before Tax |
69.4 |
97.0 |
32.6 |
-1.3 |
18.5 |
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Total Income Tax |
15.3 |
22.1 |
3.6 |
0.0 |
-2.8 |
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Income After Tax |
54.2 |
75.0 |
29.0 |
-1.3 |
21.3 |
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Minority Interest |
-11.2 |
-15.1 |
-10.0 |
-0.8 |
-1.9 |
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Net Income Before Extraord Items |
42.9 |
59.9 |
19.0 |
-2.1 |
19.4 |
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Net Income |
42.9 |
59.9 |
19.0 |
-2.1 |
19.4 |
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Income Available to Common Excl Extraord Items |
42.9 |
59.9 |
19.0 |
-2.1 |
19.4 |
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Income Available to Common Incl Extraord Items |
42.9 |
59.9 |
19.0 |
-2.1 |
19.4 |
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Basic/Primary Weighted Average Shares |
1,787.8 |
1,652.5 |
1,523.2 |
1,541.3 |
1,490.0 |
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Basic EPS Excl Extraord Items |
0.02 |
0.04 |
0.01 |
0.00 |
0.01 |
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Basic/Primary EPS Incl Extraord Items |
0.02 |
0.04 |
0.01 |
0.00 |
0.01 |
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Dilution Adjustment |
0.0 |
0.0 |
-2.3 |
0.0 |
- |
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Diluted Net Income |
42.9 |
59.9 |
16.7 |
-2.1 |
19.4 |
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Diluted Weighted Average Shares |
1,789.4 |
1,653.6 |
1,713.4 |
1,541.3 |
1,490.0 |
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Diluted EPS Excl Extraord Items |
0.02 |
0.04 |
0.01 |
0.00 |
0.01 |
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Diluted EPS Incl Extraord Items |
0.02 |
0.04 |
0.01 |
0.00 |
0.01 |
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Dividends per Share - Common Stock Primary Issue |
0.01 |
0.01 |
0.01 |
0.00 |
0.01 |
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Gross Dividends - Common Stock |
18.7 |
19.2 |
10.2 |
0.0 |
8.9 |
|
Interest Expense, Supplemental |
8.2 |
7.6 |
9.2 |
15.5 |
16.3 |
|
Interest Capitalized, Supplemental |
-0.5 |
-0.2 |
-0.9 |
-0.1 |
-0.2 |
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Depreciation, Supplemental |
51.3 |
46.4 |
40.9 |
40.3 |
41.8 |
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Total Special Items |
-2.5 |
-16.3 |
3.8 |
-3.5 |
1.1 |
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Normalized Income Before Tax |
66.9 |
80.8 |
36.4 |
-4.8 |
19.7 |
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Effect of Special Items on Income Taxes |
-0.6 |
-3.7 |
0.4 |
-1.2 |
0.4 |
|
Inc Tax Ex Impact of Sp Items |
14.7 |
18.4 |
4.1 |
-1.2 |
-2.4 |
|
Normalized Income After Tax |
52.2 |
62.4 |
32.4 |
-3.6 |
22.0 |
|
|
|
|
|
|
|
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Normalized Inc. Avail to Com. |
41.0 |
47.3 |
22.4 |
-4.4 |
20.2 |
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Basic Normalized EPS |
0.02 |
0.03 |
0.01 |
0.00 |
0.01 |
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Diluted Normalized EPS |
0.02 |
0.03 |
0.01 |
0.00 |
0.01 |
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Amort of Intangibles, Supplemental |
1.3 |
1.3 |
1.6 |
0.6 |
0.6 |
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Normalized EBIT |
60.9 |
82.7 |
22.5 |
2.4 |
15.6 |
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Normalized EBITDA |
113.5 |
130.4 |
64.9 |
43.3 |
58.0 |
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Current Tax - Total |
12.0 |
8.1 |
3.2 |
2.1 |
2.8 |
|
Current Tax - Total |
12.0 |
8.1 |
3.2 |
2.1 |
2.8 |
|
Deferred Tax - Total |
3.3 |
13.9 |
0.4 |
-2.1 |
-5.5 |
|
Deferred Tax - Total |
3.3 |
13.9 |
0.4 |
-2.1 |
-5.5 |
|
Income Tax - Total |
15.3 |
22.1 |
3.6 |
0.0 |
-2.8 |
|
Interest Cost - Domestic |
1.3 |
1.2 |
1.5 |
1.6 |
1.7 |
|
Service Cost - Domestic |
1.4 |
1.3 |
1.4 |
1.6 |
1.6 |
|
Expected Return on Assets - Domestic |
-0.3 |
-0.2 |
-0.2 |
-0.3 |
-0.3 |
|
Transition Costs - Domestic |
2.5 |
2.4 |
2.2 |
2.2 |
2.5 |
|
Other Pension, Net - Domestic |
0.6 |
0.5 |
0.6 |
0.6 |
- |
|
Domestic Pension Plan Expense |
5.5 |
5.3 |
5.4 |
5.6 |
5.6 |
|
Defined Contribution Expense - Domestic |
2.2 |
1.9 |
1.5 |
1.7 |
- |
|
Defined Contribution Expense - Foreign |
0.6 |
0.4 |
- |
- |
- |
|
Total Pension Expense |
8.3 |
7.6 |
6.9 |
7.3 |
5.6 |
|
Discount Rate - Domestic |
2.00% |
2.00% |
2.50% |
2.75% |
2.75% |
|
Expected Rate of Return - Domestic |
2.00% |
2.00% |
2.50% |
2.75% |
2.75% |
|
Compensation Rate - Domestic |
3.00% |
3.00% |
3.00% |
3.00% |
3.00% |
|
Total Plan Interest Cost |
1.3 |
1.2 |
1.5 |
1.6 |
1.7 |
|
Total Plan Service Cost |
1.4 |
1.3 |
1.4 |
1.6 |
1.6 |
|
Total Plan Expected Return |
-0.3 |
-0.2 |
-0.2 |
-0.3 |
-0.3 |
|
Total Plan Other Expense |
0.6 |
0.5 |
0.6 |
0.6 |
- |
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 |
Reclassified
Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate |
30.279 |
29.1565 |
31.985 |
32.818 |
32.4345 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte & Touche
LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash & Equivalents |
437.0 |
333.0 |
283.6 |
240.6 |
348.2 |
|
Short Term Investments |
167.0 |
169.2 |
96.0 |
126.2 |
97.9 |
|
Cash and Short Term Investments |
603.9 |
502.2 |
379.6 |
366.9 |
446.1 |
|
Accounts Receivable - Trade,
Gross |
157.1 |
143.0 |
113.9 |
79.0 |
113.2 |
|
Provision for Doubtful
Accounts |
-9.2 |
-7.7 |
-7.5 |
-4.6 |
-4.7 |
|
Trade Accounts Receivable - Net |
147.9 |
135.3 |
106.5 |
74.5 |
108.5 |
|
Notes Receivable - Short Term |
14.4 |
13.2 |
10.2 |
8.2 |
18.5 |
|
Other Receivables |
109.1 |
179.4 |
123.1 |
56.3 |
102.2 |
|
Total Receivables, Net |
271.4 |
327.9 |
239.7 |
138.9 |
229.2 |
|
Inventories - Finished Goods |
89.4 |
79.6 |
56.0 |
60.6 |
64.6 |
|
Inventories - Work In Progress |
22.1 |
23.5 |
19.9 |
19.8 |
17.0 |
|
Inventories - Raw Materials |
94.6 |
88.7 |
55.8 |
50.0 |
59.3 |
|
Inventories - Other |
- |
- |
- |
-9.1 |
-4.1 |
|
Total Inventory |
206.2 |
191.7 |
131.7 |
121.3 |
136.8 |
|
Prepaid Expenses |
17.4 |
14.0 |
8.3 |
12.3 |
9.2 |
|
Restricted Cash - Current |
15.3 |
20.2 |
15.3 |
18.7 |
18.3 |
|
Deferred Income Tax - Current Asset |
5.5 |
5.9 |
- |
- |
- |
|
Other Current Assets |
0.5 |
1.7 |
9.2 |
4.6 |
2.5 |
|
Other Current Assets, Total |
21.3 |
27.8 |
24.5 |
23.3 |
20.8 |
|
Total Current Assets |
1,120.2 |
1,063.6 |
783.9 |
662.7 |
842.1 |
|
|
|
|
|
|
|
|
Buildings |
233.7 |
232.4 |
182.0 |
158.0 |
155.5 |
|
Land/Improvements |
95.7 |
101.6 |
78.5 |
72.2 |
79.8 |
|
Machinery/Equipment |
869.4 |
873.8 |
857.0 |
760.9 |
748.4 |
|
Construction in
Progress |
116.9 |
41.6 |
13.1 |
68.2 |
23.2 |
|
Leases |
141.0 |
22.7 |
50.0 |
45.4 |
20.6 |
|
Other Property/Plant/Equipment |
104.5 |
95.6 |
79.2 |
78.7 |
77.3 |
|
Property/Plant/Equipment - Gross |
1,561.1 |
1,367.8 |
1,259.8 |
1,183.4 |
1,104.8 |
|
Accumulated Depreciation |
-737.3 |
-714.5 |
-691.9 |
-635.3 |
-621.0 |
|
Property/Plant/Equipment - Net |
823.9 |
653.3 |
567.9 |
548.1 |
483.7 |
|
Intangibles, Net |
1.4 |
1.6 |
2.3 |
2.7 |
1.5 |
|
LT Investment - Affiliate Companies |
5.8 |
28.9 |
37.4 |
29.2 |
68.5 |
|
LT Investments - Other |
1,368.4 |
1,402.9 |
1,087.5 |
1,039.0 |
1,054.7 |
|
Long Term Investments |
1,374.1 |
1,431.9 |
1,124.9 |
1,068.1 |
1,123.2 |
|
Deferred Income Tax - Long Term Asset |
5.7 |
6.5 |
18.1 |
19.8 |
19.4 |
|
Restricted Cash - Long Term |
10.7 |
10.2 |
9.2 |
7.3 |
6.4 |
|
Other Long Term Assets |
47.5 |
49.4 |
42.3 |
35.1 |
39.0 |
|
Other Long Term Assets, Total |
63.9 |
66.1 |
69.6 |
62.2 |
64.8 |
|
Total Assets |
3,383.5 |
3,216.5 |
2,548.7 |
2,343.8 |
2,515.2 |
|
|
|
|
|
|
|
|
Accounts Payable |
56.1 |
74.8 |
48.2 |
25.7 |
41.9 |
|
Accrued Expenses |
27.7 |
29.2 |
22.4 |
19.8 |
16.8 |
|
Notes Payable/Short Term Debt |
370.7 |
408.5 |
308.6 |
234.4 |
263.6 |
|
Current Portion - Long Term Debt/Capital Leases |
18.9 |
53.2 |
41.1 |
56.0 |
15.4 |
|
Other Payables |
54.9 |
46.2 |
39.7 |
33.0 |
34.1 |
|
Other Current Liabilities |
24.2 |
31.3 |
17.1 |
10.3 |
10.2 |
|
Other Current liabilities, Total |
79.2 |
77.5 |
56.8 |
43.3 |
44.3 |
|
Total Current Liabilities |
552.6 |
643.2 |
477.1 |
379.2 |
382.1 |
|
|
|
|
|
|
|
|
Long Term Debt |
1,785.9 |
1,485.5 |
1,264.9 |
1,270.1 |
1,331.5 |
|
Total Long Term Debt |
1,785.9 |
1,485.5 |
1,264.9 |
1,270.1 |
1,331.5 |
|
Total Debt |
2,175.5 |
1,947.1 |
1,614.6 |
1,560.5 |
1,610.5 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
3.1 |
0.0 |
- |
- |
- |
|
Deferred Income Tax |
3.1 |
0.0 |
- |
- |
- |
|
Minority Interest |
209.8 |
209.2 |
158.6 |
147.5 |
147.6 |
|
Reserves |
27.9 |
27.8 |
24.9 |
23.1 |
21.0 |
|
Pension Benefits - Underfunded |
45.1 |
47.9 |
42.0 |
39.3 |
42.2 |
|
Other Long Term Liabilities |
7.8 |
7.1 |
6.8 |
33.6 |
30.6 |
|
Other Liabilities, Total |
80.8 |
82.8 |
73.7 |
96.0 |
93.8 |
|
Total Liabilities |
2,632.1 |
2,420.7 |
1,974.3 |
1,892.8 |
1,955.0 |
|
|
|
|
|
|
|
|
Common Stock |
603.8 |
559.1 |
454.6 |
443.1 |
448.3 |
|
Common Stock |
603.8 |
559.1 |
454.6 |
443.1 |
448.3 |
|
Additional Paid-In Capital |
37.6 |
26.4 |
23.8 |
22.2 |
22.2 |
|
Retained Earnings (Accumulated Deficit) |
86.8 |
98.4 |
41.3 |
21.6 |
33.2 |
|
Treasury Stock - Common |
-11.3 |
-1.0 |
-3.9 |
-2.9 |
- |
|
Unrealized Gain (Loss) |
23.5 |
109.2 |
43.6 |
-50.3 |
41.6 |
|
Translation Adjustment |
12.2 |
4.8 |
15.8 |
17.9 |
15.0 |
|
Minimum Pension Liability Adjustment |
-1.2 |
-1.2 |
-0.9 |
-0.5 |
-0.1 |
|
Other Equity, Total |
11.1 |
3.6 |
15.0 |
17.3 |
14.9 |
|
Total Equity |
751.4 |
795.8 |
574.4 |
451.0 |
560.3 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
3,383.5 |
3,216.5 |
2,548.7 |
2,343.8 |
2,515.2 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
1,792.5 |
1,729.5 |
1,523.2 |
1,527.9 |
1,546.9 |
|
Total Common Shares Outstanding |
1,792.5 |
1,729.5 |
1,523.2 |
1,527.9 |
1,546.9 |
|
Treasury Shares - Common Stock Primary Issue |
35.7 |
4.7 |
23.7 |
19.0 |
0.0 |
|
Employees |
3,861 |
3,815 |
3,459 |
3,574 |
3,559 |
|
Number of Common Shareholders |
136,355 |
136,985 |
129,946 |
124,296 |
125,596 |
|
Total Long Term Debt, Supplemental |
- |
- |
- |
113.9 |
129.5 |
|
Long Term Debt Maturing within 1 Year |
- |
- |
- |
56.0 |
15.4 |
|
Long Term Debt Maturing in Year 2 |
- |
- |
- |
28.9 |
55.5 |
|
Long Term Debt Maturing in Year 3 |
- |
- |
- |
28.9 |
29.3 |
|
Long Term Debt Maturing in Year 4 |
- |
- |
- |
- |
29.3 |
|
Long Term Debt Maturing in 2-3 Years |
- |
- |
- |
57.9 |
84.8 |
|
Long Term Debt Maturing in 4-5 Years |
- |
- |
- |
- |
29.3 |
|
Long Term Debt Matur. in Year 6 & Beyond |
- |
- |
- |
0.0 |
0.0 |
|
Total Operating Leases, Supplemental |
1.9 |
1.4 |
- |
2.3 |
- |
|
Operating Lease Payments Due in Year 1 |
1.1 |
0.9 |
- |
1.0 |
- |
|
Operating Lease Payments Due in Year 2 |
0.5 |
0.3 |
- |
0.6 |
- |
|
Operating Lease Payments Due in Year 3 |
0.2 |
0.2 |
- |
0.3 |
- |
|
Operating Lease Payments Due in Year 4 |
0.1 |
0.0 |
- |
0.2 |
- |
|
Operating Lease Payments Due in Year 5 |
0.0 |
0.0 |
- |
0.1 |
- |
|
Operating Lease Pymts. Due in 2-3 Years |
0.7 |
0.4 |
- |
0.9 |
- |
|
Operating Lease Pymts. Due in 4-5 Years |
0.1 |
0.0 |
- |
0.3 |
- |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
0.0 |
0.0 |
- |
0.0 |
- |
|
Pension Obligation - Domestic |
50.6 |
55.9 |
47.5 |
44.5 |
50.2 |
|
Plan Assets - Domestic |
10.4 |
10.5 |
8.6 |
6.4 |
9.6 |
|
Funded Status - Domestic |
-40.2 |
-45.5 |
-38.9 |
-38.1 |
-40.6 |
|
Accumulated Obligation - Domestic |
44.1 |
45.9 |
38.5 |
36.1 |
42.4 |
|
Total Funded Status |
-40.2 |
-45.5 |
-38.9 |
-38.1 |
-40.6 |
|
Discount Rate - Domestic |
2.00% |
2.00% |
2.50% |
2.75% |
2.75% |
|
Expected Rate of Return - Domestic |
2.00% |
2.00% |
2.50% |
2.75% |
2.75% |
|
Compensation Rate - Domestic |
3.00% |
3.00% |
3.00% |
3.00% |
3.00% |
|
Accrued Liabilities - Domestic |
-45.1 |
-47.9 |
-42.0 |
-39.3 |
-42.2 |
|
Net Assets Recognized on Balance Sheet |
-45.1 |
-47.9 |
-42.0 |
-39.3 |
-42.2 |
|
Total Plan Obligations |
50.6 |
55.9 |
47.5 |
44.5 |
50.2 |
|
Total Plan Assets |
10.4 |
10.5 |
8.6 |
6.4 |
9.6 |
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 |
Updated Normal |
Reclassified
Normal |
Restated Normal |
Reclassified
Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate
(Period Average) |
29.39004 |
31.497037 |
33.023867 |
31.543497 |
32.848802 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte & Touche
LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
54.2 |
75.0 |
29.0 |
-1.3 |
21.3 |
|
Depreciation |
53.2 |
48.1 |
43.0 |
40.9 |
42.4 |
|
Depreciation/Depletion |
53.2 |
48.1 |
43.0 |
40.9 |
42.4 |
|
Deferred Taxes |
3.9 |
13.3 |
0.4 |
-2.3 |
-4.2 |
|
Unusual Items |
-9.5 |
-17.7 |
-3.6 |
-1.6 |
-3.8 |
|
Equity in Net Earnings (Loss) |
3.7 |
0.4 |
-1.4 |
5.8 |
-3.4 |
|
Other Non-Cash Items |
2.5 |
6.2 |
1.7 |
0.2 |
6.0 |
|
Non-Cash Items |
-3.2 |
-11.1 |
-3.3 |
4.4 |
-1.2 |
|
Accounts Receivable |
41.6 |
-59.1 |
-84.5 |
93.3 |
-111.5 |
|
Inventories |
-22.2 |
-43.7 |
-5.0 |
16.4 |
14.2 |
|
Prepaid Expenses |
-4.2 |
-4.7 |
4.5 |
-2.9 |
-2.9 |
|
Other Assets |
-9.1 |
0.3 |
15.1 |
-121.7 |
-68.0 |
|
Accounts Payable |
-10.4 |
24.1 |
14.3 |
-17.6 |
15.0 |
|
Accrued Expenses |
-0.4 |
4.2 |
-5.7 |
3.1 |
-7.9 |
|
Other Liabilities |
-4.2 |
8.3 |
15.7 |
-1.1 |
13.7 |
|
Other Assets & Liabilities, Net |
-1.7 |
1.0 |
1.1 |
1.0 |
-4.0 |
|
Changes in Working Capital |
-10.6 |
-69.6 |
-44.5 |
-29.5 |
-151.3 |
|
Cash from Operating Activities |
97.5 |
55.8 |
24.5 |
12.1 |
-93.1 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-234.5 |
-76.9 |
-41.0 |
-96.0 |
-83.5 |
|
Purchase/Acquisition of Intangibles |
-0.4 |
-0.2 |
-4.1 |
-2.1 |
0.0 |
|
Capital Expenditures |
-234.8 |
-77.1 |
-45.2 |
-98.1 |
-83.5 |
|
Acquisition of Business |
9.1 |
13.6 |
2.5 |
1.9 |
- |
|
Sale of Business |
0.0 |
5.3 |
- |
- |
- |
|
Sale of Fixed Assets |
5.5 |
6.8 |
1.6 |
0.1 |
7.4 |
|
Sale/Maturity of Investment |
152.2 |
111.3 |
106.9 |
157.6 |
95.4 |
|
Investment, Net |
-18.9 |
6.4 |
34.7 |
-36.6 |
-6.6 |
|
Purchase of Investments |
-131.3 |
-151.0 |
-96.8 |
-161.0 |
-251.9 |
|
Other Investing Cash Flow |
-194.8 |
-173.3 |
-30.1 |
7.0 |
-20.6 |
|
Other Investing Cash Flow Items, Total |
-178.1 |
-180.8 |
18.9 |
-31.0 |
-176.2 |
|
Cash from Investing Activities |
-413.0 |
-257.9 |
-26.3 |
-129.0 |
-259.7 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
246.8 |
135.0 |
-39.9 |
-19.9 |
319.2 |
|
Financing Cash Flow Items |
246.8 |
135.0 |
-39.9 |
-19.9 |
319.2 |
|
Cash Dividends Paid - Common |
-20.6 |
-10.7 |
0.0 |
-9.2 |
0.0 |
|
Total Cash Dividends Paid |
-20.6 |
-10.7 |
0.0 |
-9.2 |
0.0 |
|
Sale/Issuance of
Common |
41.9 |
3.0 |
0.0 |
- |
31.8 |
|
Repurchase/Retirement
of Common |
-10.6 |
- |
- |
-3.0 |
0.0 |
|
Common Stock, Net |
31.3 |
3.0 |
0.0 |
-3.0 |
31.8 |
|
Issuance (Retirement) of Stock, Net |
31.3 |
3.0 |
0.0 |
-3.0 |
31.8 |
|
Short Term Debt Issued |
- |
10.3 |
10.0 |
- |
42.4 |
|
Short Term Debt
Reduction |
-69.6 |
- |
- |
-20.5 |
- |
|
Short Term Debt, Net |
-73.5 |
10.3 |
10.0 |
-20.5 |
42.4 |
|
Long Term Debt Issued |
142.0 |
92.9 |
- |
- |
67.0 |
|
Long Term Debt
Reduction |
0.0 |
-63.5 |
-22.1 |
-19.6 |
-101.8 |
|
Long Term Debt, Net |
140.2 |
84.1 |
3.1 |
-26.3 |
-22.3 |
|
Issuance (Retirement) of Debt, Net |
66.6 |
94.5 |
13.1 |
-46.8 |
20.0 |
|
Cash from Financing Activities |
324.1 |
221.8 |
-26.8 |
-78.9 |
371.1 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
1.7 |
-1.9 |
2.9 |
3.1 |
6.2 |
|
Net Change in Cash |
10.3 |
17.8 |
-25.8 |
-192.7 |
24.5 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
99.8 |
75.4 |
97.6 |
294.9 |
258.8 |
|
Net Cash - Ending Balance |
110.2 |
93.1 |
71.9 |
102.2 |
283.2 |
|
Cash Interest Paid |
15.8 |
18.3 |
22.4 |
36.4 |
11.9 |
|
Cash Taxes Paid |
12.5 |
5.4 |
2.7 |
3.6 |
15.2 |
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 |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate
(Period Average) |
29.39004 |
31.497037 |
33.023867 |
31.543497 |
32.848802 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Sales |
1,388.0 |
1,166.8 |
862.6 |
970.1 |
948.0 |
|
Other Operating Income |
56.2 |
47.3 |
41.2 |
52.9 |
32.0 |
|
Total Revenue |
1,444.2 |
1,214.2 |
903.8 |
1,023.0 |
980.0 |
|
|
|
|
|
|
|
|
Cost of Sales |
1,254.5 |
1,014.2 |
780.2 |
901.2 |
867.9 |
|
Other Operating Cost |
19.5 |
7.9 |
10.1 |
26.6 |
11.5 |
|
Operating Expenses |
109.6 |
110.2 |
91.0 |
94.2 |
85.3 |
|
Impairment of Fixed Assets |
0.0 |
2.8 |
2.4 |
0.7 |
5.0 |
|
Gain on Reversal of Bad Debt |
-0.2 |
-0.9 |
0.0 |
-1.3 |
-0.4 |
|
Gain on Reversal of Impairment Loss |
- |
-0.3 |
-0.3 |
-5.8 |
0.0 |
|
Total Operating Expense |
1,383.3 |
1,134.0 |
883.5 |
1,015.5 |
969.3 |
|
|
|
|
|
|
|
|
Interest Income |
1.3 |
0.5 |
1.1 |
1.8 |
3.2 |
|
Dividend Income |
4.1 |
2.5 |
2.2 |
5.6 |
6.3 |
|
Gain/Loss on Equity Investment |
-3.7 |
-0.4 |
1.4 |
-5.8 |
3.4 |
|
Gain on Sale of Investments |
6.9 |
1.6 |
7.7 |
3.9 |
6.3 |
|
Gain on Sale of Fixed Assets |
2.5 |
18.8 |
- |
- |
2.5 |
|
Foreign Exchange Gains/Losses |
4.0 |
-2.3 |
0.2 |
-0.8 |
-1.6 |
|
Rent Income |
1.6 |
0.9 |
0.6 |
1.3 |
1.2 |
|
G/L on Financial Product Revaluation |
-2.5 |
0.0 |
4.8 |
-1.4 |
-2.0 |
|
Gain on Financial Liab. Revaluation |
- |
- |
- |
- |
0.0 |
|
Gain on Sale of Scrap & Waste |
- |
- |
- |
- |
1.4 |
|
Miscellaneous Income |
9.2 |
7.1 |
7.8 |
7.6 |
7.6 |
|
Interest Expense |
-8.2 |
-7.6 |
-9.2 |
-15.5 |
-16.3 |
|
Loss on Other Investments |
- |
0.0 |
0.0 |
0.0 |
- |
|
Loss on Sale of Fixed Assets |
- |
0.0 |
-1.7 |
-1.6 |
0.0 |
|
Miscellaneous Disbursements |
-6.7 |
-4.3 |
-2.5 |
-4.1 |
-4.0 |
|
Net Income Before Taxes |
69.4 |
97.0 |
32.6 |
-1.3 |
18.5 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
15.3 |
22.1 |
3.6 |
0.0 |
-2.8 |
|
Net Income After Taxes |
54.2 |
75.0 |
29.0 |
-1.3 |
21.3 |
|
|
|
|
|
|
|
|
Minority Interest |
-11.2 |
-15.1 |
-10.0 |
-0.8 |
-1.9 |
|
Net Income Before Extra. Items |
42.9 |
59.9 |
19.0 |
-2.1 |
19.4 |
|
Net Income |
42.9 |
59.9 |
19.0 |
-2.1 |
19.4 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
42.9 |
59.9 |
19.0 |
-2.1 |
19.4 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
42.9 |
59.9 |
19.0 |
-2.1 |
19.4 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
1,787.8 |
1,652.5 |
1,523.2 |
1,541.3 |
1,490.0 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.02 |
0.04 |
0.01 |
0.00 |
0.01 |
|
Basic EPS Including ExtraOrdinary Items |
0.02 |
0.04 |
0.01 |
0.00 |
0.01 |
|
Dilution Adjustment |
0.0 |
0.0 |
-2.3 |
0.0 |
- |
|
Diluted Net Income |
42.9 |
59.9 |
16.7 |
-2.1 |
19.4 |
|
Diluted Weighted Average Shares |
1,789.4 |
1,653.6 |
1,713.4 |
1,541.3 |
1,490.0 |
|
Diluted EPS Excluding ExtraOrd Items |
0.02 |
0.04 |
0.01 |
0.00 |
0.01 |
|
Diluted EPS Including ExtraOrd Items |
0.02 |
0.04 |
0.01 |
0.00 |
0.01 |
|
DPS-Common Stock |
0.01 |
0.01 |
0.01 |
0.00 |
0.01 |
|
Gross Dividends - Common Stock |
18.7 |
19.2 |
10.2 |
0.0 |
8.9 |
|
Normalized Income Before Taxes |
66.9 |
80.8 |
36.4 |
-4.8 |
19.7 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
14.7 |
18.4 |
4.1 |
-1.2 |
-2.4 |
|
Normalized Income After Taxes |
52.2 |
62.4 |
32.4 |
-3.6 |
22.0 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
41.0 |
47.3 |
22.4 |
-4.4 |
20.2 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.02 |
0.03 |
0.01 |
0.00 |
0.01 |
|
Diluted Normalized EPS |
0.02 |
0.03 |
0.01 |
0.00 |
0.01 |
|
Interest Expense |
8.2 |
7.6 |
9.2 |
15.5 |
16.3 |
|
Interest Capitalized |
-0.5 |
-0.2 |
-0.9 |
-0.1 |
-0.2 |
|
Depreciation - Operating Cost |
48.2 |
44.0 |
35.8 |
35.4 |
35.5 |
|
Depreciation - Operating Expense |
3.2 |
2.4 |
5.1 |
4.9 |
6.3 |
|
Amortization - Operating Cost |
0.7 |
0.6 |
0.7 |
0.5 |
0.2 |
|
Amortization - Operating Expense |
0.6 |
0.6 |
0.9 |
0.1 |
0.4 |
|
Current Tax Payable |
12.0 |
8.1 |
3.2 |
2.1 |
2.8 |
|
Current Tax - Total |
12.0 |
8.1 |
3.2 |
2.1 |
2.8 |
|
Deferred Tax |
3.3 |
13.9 |
0.4 |
-2.1 |
-5.5 |
|
Deferred Tax - Total |
3.3 |
13.9 |
0.4 |
-2.1 |
-5.5 |
|
Income Tax - Total |
15.3 |
22.1 |
3.6 |
0.0 |
-2.8 |
|
Service Cost |
1.4 |
1.3 |
1.4 |
1.6 |
1.6 |
|
Interest Cost |
1.3 |
1.2 |
1.5 |
1.6 |
1.7 |
|
Expected Return on Plan Assets |
-0.3 |
-0.2 |
-0.2 |
-0.3 |
-0.3 |
|
Amort. of Unrecognized Transitional Cost |
2.5 |
2.4 |
2.2 |
2.2 |
2.5 |
|
Amort. Transitional Benefit Obligation |
0.6 |
0.5 |
0.6 |
0.6 |
- |
|
Domestic Pension Plan Expense |
5.5 |
5.3 |
5.4 |
5.6 |
5.6 |
|
Defined Contribution Expense - Domestic |
2.2 |
1.9 |
1.5 |
1.7 |
- |
|
Defined Contribution Expense - Foreign |
0.6 |
0.4 |
- |
- |
- |
|
Total Pension Expense |
8.3 |
7.6 |
6.9 |
7.3 |
5.6 |
|
Discount Rate |
2.00% |
2.00% |
2.50% |
2.75% |
2.75% |
|
Rate of Compensation Increase |
3.00% |
3.00% |
3.00% |
3.00% |
3.00% |
|
Expected Rate of Return on Plan Assets |
2.00% |
2.00% |
2.50% |
2.75% |
2.75% |
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 |
Reclassified
Normal |
Restated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate |
30.279 |
29.1565 |
31.985 |
32.818 |
32.4345 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash and Cash Equivalent |
106.9 |
100.6 |
74.2 |
98.3 |
286.8 |
|
Due from Banks and Central Bank |
330.1 |
232.4 |
209.4 |
142.4 |
61.3 |
|
Financial Asset at Fair Value |
27.2 |
17.6 |
5.3 |
23.3 |
4.7 |
|
Financial Assets For Sale- Current |
121.6 |
151.6 |
83.0 |
61.9 |
87.1 |
|
Fin. Assets-Held to Maturity,Current |
- |
- |
1.5 |
- |
- |
|
Securities under REOP and Bond Investmen |
18.1 |
- |
6.2 |
41.1 |
6.1 |
|
Notes Receivable |
14.4 |
13.2 |
10.2 |
8.2 |
18.5 |
|
Accounts Receivable-Non-Rel.Parties, Gro |
157.0 |
139.2 |
108.2 |
74.6 |
110.6 |
|
Accounts Receivable-Rel.Parties, Gross |
0.0 |
3.8 |
5.7 |
4.4 |
2.6 |
|
Provision for Doubtful Accounts |
-4.5 |
-3.6 |
-4.4 |
-2.7 |
-3.2 |
|
Provision for Sales Returns&Discount |
-4.7 |
-4.1 |
-3.0 |
-1.9 |
-1.5 |
|
Other Receivables |
15.5 |
18.6 |
20.9 |
20.0 |
13.0 |
|
Security Funds Receivable |
93.6 |
160.8 |
102.2 |
36.3 |
89.3 |
|
Customer Margin Account |
8.5 |
11.5 |
8.8 |
5.4 |
4.3 |
|
Finished Goods |
89.3 |
78.9 |
54.8 |
60.0 |
63.8 |
|
Semi-finished Goods |
3.6 |
2.7 |
2.6 |
3.4 |
- |
|
Work-in-Process |
18.6 |
20.8 |
17.3 |
16.3 |
17.0 |
|
Raw Material |
68.1 |
64.8 |
33.5 |
27.3 |
33.9 |
|
Supplies |
26.6 |
23.9 |
22.4 |
22.7 |
25.5 |
|
Scrap Inventory |
- |
- |
- |
0.1 |
0.0 |
|
Goods in Transit |
0.1 |
0.7 |
1.2 |
0.6 |
0.9 |
|
Provision/Allowance for Inventory |
- |
- |
- |
-9.2 |
-4.1 |
|
Prepayment |
17.4 |
14.0 |
8.3 |
12.3 |
9.2 |
|
Restricted Assets |
6.8 |
8.7 |
6.5 |
13.3 |
14.0 |
|
Other Current Assets |
0.5 |
1.7 |
9.2 |
4.6 |
2.5 |
|
Deferred Income Tax Assets - Current |
5.5 |
5.9 |
- |
- |
- |
|
Total Current Assets |
1,120.2 |
1,063.6 |
783.9 |
662.7 |
842.1 |
|
|
|
|
|
|
|
|
Notes Discounted & Loans |
1,119.9 |
1,073.0 |
806.8 |
817.7 |
789.7 |
|
Long Term Equity Investment |
5.8 |
28.9 |
37.4 |
29.2 |
68.5 |
|
Investments in Real Estate |
- |
- |
- |
- |
0.0 |
|
Financial Assets for Sale |
124.7 |
190.1 |
131.9 |
60.6 |
113.7 |
|
Financial Assest At Cost |
24.7 |
26.4 |
27.3 |
27.2 |
28.3 |
|
Financial Assets-Held to Maturity, Non-C |
99.1 |
113.5 |
121.5 |
133.5 |
122.9 |
|
Land and Improvements |
95.7 |
101.6 |
78.5 |
72.2 |
79.8 |
|
Buildings and Structures |
232.9 |
231.8 |
181.3 |
157.6 |
155.2 |
|
Machinery and Equipment |
838.0 |
842.1 |
825.1 |
731.5 |
719.5 |
|
Transportation Equipment |
2.7 |
2.5 |
2.3 |
2.1 |
2.3 |
|
Miscellaneous Equipment |
23.2 |
23.7 |
24.7 |
23.2 |
22.8 |
|
Leasehold Improvement |
0.8 |
0.6 |
0.7 |
0.4 |
0.3 |
|
Office Equipment |
5.6 |
5.4 |
4.9 |
4.1 |
3.8 |
|
Assets Revaluation Increment |
104.5 |
95.6 |
79.2 |
78.7 |
77.3 |
|
Accumulated Depreciation |
-720.1 |
-696.8 |
-673.3 |
-618.6 |
-606.4 |
|
Provision for Impairment of Fixed Assets |
-14.1 |
-14.8 |
-11.0 |
-10.7 |
-10.8 |
|
Construction in Prog. & Prepay. Equip. |
116.9 |
41.6 |
13.1 |
68.2 |
23.2 |
|
Other Intangible Assets, Net |
1.4 |
1.6 |
2.3 |
2.7 |
1.5 |
|
Assets for Lease |
141.0 |
22.7 |
50.0 |
45.4 |
20.6 |
|
Accumulated Dep. - Assets for Lease |
-3.1 |
-2.8 |
-7.6 |
-6.1 |
-3.8 |
|
Operating Deposits & Settlement Fund |
10.7 |
10.2 |
9.2 |
7.3 |
6.4 |
|
Deferred Tax Assets |
5.7 |
6.5 |
18.1 |
19.8 |
19.4 |
|
Other Long Term Assets |
47.5 |
49.4 |
41.3 |
33.0 |
35.6 |
|
Broking Account - Debit |
- |
- |
1.0 |
2.2 |
3.4 |
|
Total Assets |
3,383.5 |
3,216.5 |
2,548.7 |
2,343.8 |
2,515.2 |
|
|
|
|
|
|
|
|
Short Term Borrowings |
142.6 |
218.3 |
243.6 |
219.9 |
242.4 |
|
Security under REPO |
54.1 |
60.2 |
32.2 |
6.1 |
12.6 |
|
Due to Banks and Central Bank |
65.4 |
17.4 |
14.1 |
0.1 |
0.2 |
|
Financial Liabilitie At Fair Value |
0.3 |
0.2 |
0.0 |
1.9 |
1.0 |
|
Accounts Payable |
56.1 |
74.8 |
48.2 |
25.7 |
41.9 |
|
Accrued Expenses |
27.7 |
29.2 |
22.4 |
19.8 |
16.8 |
|
Other Payable |
33.9 |
26.2 |
19.3 |
26.0 |
26.0 |
|
Security Guarantee Deposit Received |
19.1 |
18.0 |
18.6 |
6.4 |
7.3 |
|
Security Collateral Payable |
21.0 |
19.9 |
20.4 |
7.0 |
8.1 |
|
Futures Traders' Equity |
8.5 |
11.5 |
8.8 |
5.4 |
4.3 |
|
Current Portion of Long Term Debt |
18.9 |
53.2 |
41.1 |
56.0 |
15.4 |
|
Other Current Liabilities |
15.7 |
19.8 |
8.3 |
4.9 |
5.9 |
|
Notes Issued under REPO |
89.1 |
94.4 |
- |
- |
- |
|
Total Current Liabilities |
552.6 |
643.2 |
477.1 |
379.2 |
382.1 |
|
|
|
|
|
|
|
|
Deposits Accepted and Remittances Payabl |
1,451.0 |
1,313.5 |
1,078.7 |
1,102.2 |
1,104.0 |
|
Long Term Borrowings |
334.9 |
171.1 |
71.8 |
57.8 |
113.9 |
|
Corporate Bonds Payable |
0.0 |
0.9 |
114.4 |
110.1 |
113.6 |
|
Total Long Term Debt |
1,785.9 |
1,485.5 |
1,264.9 |
1,270.1 |
1,331.5 |
|
|
|
|
|
|
|
|
Land Revaluation Increment Tax Reserve |
27.8 |
24.7 |
22.7 |
21.6 |
19.9 |
|
Accrued Pension Liabilities |
45.1 |
47.9 |
42.0 |
39.3 |
42.2 |
|
Operating & Liabilities Loss Reserve |
0.1 |
3.1 |
2.1 |
1.5 |
1.1 |
|
Deferred Income Tax Liabilities |
3.1 |
0.0 |
- |
- |
- |
|
Long Term Security Deposits Received |
1.9 |
1.2 |
1.3 |
1.3 |
1.3 |
|
Other Long Term Liabilities |
5.8 |
5.9 |
5.4 |
32.3 |
29.3 |
|
Minority Interest |
209.8 |
209.2 |
158.6 |
147.5 |
147.6 |
|
Total Liabilities |
2,632.1 |
2,420.7 |
1,974.3 |
1,892.8 |
1,955.0 |
|
|
|
|
|
|
|
|
Common Stock |
603.8 |
559.1 |
454.6 |
443.1 |
448.3 |
|
Additional Paid-In Capital |
37.6 |
26.4 |
23.8 |
22.2 |
22.2 |
|
Legal Reserve |
12.0 |
6.0 |
3.5 |
3.4 |
2.1 |
|
Special Reserve |
21.7 |
20.5 |
18.7 |
8.5 |
8.6 |
|
Retained Earnings |
53.2 |
71.9 |
19.1 |
9.7 |
22.5 |
|
Cumulative Translation Adjustment |
12.2 |
4.8 |
15.8 |
17.9 |
15.0 |
|
Unrealized LT Invest./Fncl. Products G/L |
-36.5 |
49.1 |
-11.2 |
-103.8 |
-3.5 |
|
Unrealized Revaluation Increment |
60.0 |
60.1 |
54.9 |
53.5 |
45.2 |
|
Unrealized Gain/Loss on Pension Fund |
-1.2 |
-1.2 |
-0.9 |
-0.5 |
-0.1 |
|
Treasury Stock |
-11.3 |
-1.0 |
-3.9 |
-2.9 |
- |
|
Total Equity |
751.4 |
795.8 |
574.4 |
451.0 |
560.3 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
3,383.5 |
3,216.5 |
2,548.7 |
2,343.8 |
2,515.2 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
1,792.5 |
1,729.5 |
1,523.2 |
1,527.9 |
1,546.9 |
|
Total Common Shares Outstanding |
1,792.5 |
1,729.5 |
1,523.2 |
1,527.9 |
1,546.9 |
|
T/S-Common Stock |
35.7 |
4.7 |
23.7 |
19.0 |
0.0 |
|
Full-Time Employees |
3,861 |
3,815 |
3,459 |
3,574 |
3,559 |
|
Number of Common Shareholders |
136,355 |
136,985 |
129,946 |
124,296 |
125,596 |
|
Long Term Debt Maturing in 1Year |
- |
- |
- |
56.0 |
15.4 |
|
Long Term Debt Maturing in Year2 |
- |
- |
- |
- |
55.5 |
|
Long Term Debt Maturing in Year3 |
- |
- |
- |
57.9 |
- |
|
Long Term Debt Maturing in Year4 |
- |
- |
- |
- |
58.6 |
|
Total Long Term Debt, Supplemental |
- |
- |
- |
113.9 |
129.5 |
|
Operating Lease Maturing in 1 Year |
1.1 |
0.9 |
- |
1.0 |
- |
|
Operating Lease Maturing in 2 Years |
0.5 |
0.3 |
- |
0.6 |
- |
|
Operating Lease Maturing in 3 Years |
0.2 |
0.2 |
- |
0.3 |
- |
|
Operating Lease Maturing in 4 Years |
0.1 |
0.0 |
- |
0.2 |
- |
|
Operating Lease Maturing in 5 Years |
0.0 |
0.0 |
- |
0.1 |
- |
|
Total Operating Leases |
1.9 |
1.4 |
- |
2.3 |
- |
|
Accumulated Benefit Obligation |
44.1 |
45.9 |
38.5 |
36.1 |
42.4 |
|
Benefit Obligation |
50.6 |
55.9 |
47.5 |
44.5 |
50.2 |
|
Fair Value of Plan Assets |
10.4 |
10.5 |
8.6 |
6.4 |
9.6 |
|
Funded Status |
-40.2 |
-45.5 |
-38.9 |
-38.1 |
-40.6 |
|
Total Funded Status |
-40.2 |
-45.5 |
-38.9 |
-38.1 |
-40.6 |
|
Discount Rate |
2.00% |
2.00% |
2.50% |
2.75% |
2.75% |
|
Rate of Compensation Increase |
3.00% |
3.00% |
3.00% |
3.00% |
3.00% |
|
Expected Rate of Return on Plan Assets |
2.00% |
2.00% |
2.50% |
2.75% |
2.75% |
|
Accrued Pension Liabilities |
-45.1 |
-47.9 |
-42.0 |
-39.3 |
-42.2 |
|
Net Assets Recognized on Balance Sheet |
-45.1 |
-47.9 |
-42.0 |
-39.3 |
-42.2 |
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 |
Updated Normal |
Reclassified
Normal |
Restated Normal |
Reclassified
Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate
(Period Average) |
29.39004 |
31.497037 |
33.023867 |
31.543497 |
32.848802 |
|
Auditor |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Income |
54.2 |
75.0 |
29.0 |
-1.3 |
21.3 |
|
Depreciation |
53.2 |
48.1 |
43.0 |
40.9 |
42.4 |
|
Operating & Liabilities Loss Reserve |
-3.0 |
0.7 |
0.6 |
- |
- |
|
Cost for Employee Option |
1.5 |
1.4 |
1.6 |
0.1 |
0.0 |
|
Amortizaton of Bond - HTM |
0.7 |
0.7 |
0.7 |
0.6 |
0.3 |
|
Amortization of Bond Debt |
0.0 |
0.5 |
1.4 |
1.5 |
1.0 |
|
Provision for Pension Liabilities |
-1.0 |
1.3 |
1.4 |
-4.3 |
3.6 |
|
Equity Investment Gain/Loss |
3.7 |
0.4 |
-1.4 |
5.8 |
-3.4 |
|
Cash Dividends from Equity Investment |
0.0 |
0.1 |
0.5 |
1.1 |
0.0 |
|
Net Loss on Disposal of Properties |
-2.5 |
-18.8 |
1.7 |
1.6 |
-2.5 |
|
Gain/Loss on Redemption of Corporate Bon |
- |
- |
- |
-0.6 |
0.0 |
|
Other Loss-Fixed Assets |
1.9 |
1.4 |
0.3 |
0.0 |
- |
|
Gain on Sale of Investments |
-6.9 |
-1.6 |
-7.7 |
-3.9 |
-6.3 |
|
Gain on Financial Products Revaluation |
2.5 |
0.0 |
-4.8 |
1.4 |
- |
|
Provision for Loss |
- |
- |
- |
0.4 |
1.0 |
|
Impairment Loss on Assets |
- |
2.8 |
2.4 |
0.7 |
5.0 |
|
Deferred Tax |
3.9 |
13.3 |
0.4 |
-2.3 |
-4.2 |
|
Other Loss on Investments |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Financial Assets-Fair Value, Current |
-12.9 |
-0.2 |
20.8 |
-19.5 |
-2.6 |
|
Due from the Central Bank and Other Bank |
- |
- |
- |
-100.9 |
-60.5 |
|
Notes Receivable & Accounts Receivable |
-19.9 |
-19.0 |
-26.7 |
46.7 |
-17.1 |
|
Other Receivables |
-1.6 |
5.0 |
5.1 |
-7.5 |
-6.2 |
|
Security Funds Receivable |
63.1 |
-45.0 |
-62.9 |
54.0 |
-88.1 |
|
Customer Margin Account |
2.6 |
-1.7 |
-3.2 |
-1.2 |
-4.3 |
|
Inventories |
-22.2 |
-43.7 |
-5.0 |
16.4 |
14.2 |
|
Prepayment |
-4.2 |
-4.7 |
4.5 |
-2.9 |
-2.9 |
|
Broking Account - Debit/Credit |
-2.2 |
1.1 |
1.2 |
1.2 |
-3.3 |
|
Other Current Assets |
1.1 |
2.2 |
-2.5 |
-0.1 |
1.2 |
|
Accounts Payable |
-16.4 |
20.3 |
20.6 |
-16.6 |
-6.2 |
|
Other Assets |
- |
- |
- |
- |
-1.8 |
|
Accrued Expenses |
-0.4 |
4.2 |
-5.7 |
3.1 |
-7.9 |
|
Other Payable |
4.1 |
6.1 |
-19.1 |
0.1 |
13.2 |
|
Security Guarantee Deposit Received |
1.8 |
-2.2 |
11.7 |
-0.9 |
7.2 |
|
Security Collateral Payable |
1.9 |
-2.3 |
12.8 |
-1.1 |
8.0 |
|
Futures Traders' Equity |
-2.6 |
1.7 |
3.2 |
1.2 |
4.3 |
|
Other Current Liabilities |
-3.3 |
8.8 |
0.9 |
-1.4 |
2.0 |
|
Deferred Assets/ Income |
0.5 |
-0.1 |
-0.1 |
-0.2 |
-0.7 |
|
Other Liabilities |
- |
- |
- |
- |
0.2 |
|
Impairment on Financial Assets |
0.0 |
- |
- |
- |
- |
|
Cash From Operating Activities |
97.5 |
55.8 |
24.5 |
12.1 |
-93.1 |
|
|
|
|
|
|
|
|
Financial Assets for Sale- Increase |
-105.1 |
-124.0 |
-81.5 |
-111.6 |
-89.7 |
|
Financial Assets for Sale- Decrease |
116.2 |
81.7 |
75.0 |
128.1 |
53.4 |
|
Increase/Decrease in Securities under Re |
-18.7 |
6.3 |
34.8 |
-36.4 |
-6.1 |
|
Purchase of Financial Assets-HTM,Non-C |
-26.1 |
-16.7 |
-15.3 |
-42.6 |
-159.1 |
|
Sale of Financial Assets-HTM,Non-C |
36.0 |
25.3 |
28.2 |
29.5 |
37.4 |
|
Restricted Assets |
5.1 |
0.1 |
8.4 |
1.3 |
-12.0 |
|
Financial Assets At Cost- Increase |
0.0 |
-1.1 |
0.0 |
-0.2 |
-0.3 |
|
Financial Assets At Cost- Decrease |
0.0 |
3.8 |
- |
- |
- |
|
Fncl. Assets At Cost & Capital Reduction |
- |
- |
- |
- |
4.7 |
|
LT Equity Investments Increase |
0.0 |
-9.2 |
0.0 |
-6.5 |
-2.8 |
|
Long Term Investments Decrease |
0.0 |
0.5 |
3.7 |
0.0 |
- |
|
Gain on Sales of Subsidiaries |
0.0 |
5.3 |
- |
- |
- |
|
Capital Expenditure |
-234.5 |
-76.9 |
-41.0 |
-96.0 |
-83.5 |
|
Operating Deposits & Settlement fund |
-0.9 |
-0.1 |
-1.6 |
-1.0 |
-6.4 |
|
Intangible Assets |
-0.4 |
-0.2 |
-4.1 |
-2.1 |
0.0 |
|
Security Deposit Paid |
-0.2 |
0.1 |
0.0 |
-0.2 |
-0.5 |
|
Amortization Expenses |
-1.1 |
-0.5 |
-1.1 |
1.2 |
-2.3 |
|
Disposal of Fixed Assets |
5.5 |
6.8 |
1.6 |
0.1 |
7.4 |
|
Acquisition of Business |
9.1 |
13.6 |
2.5 |
1.9 |
- |
|
Due from the Central Bank and Other Bank |
-109.5 |
-2.5 |
-61.3 |
- |
- |
|
Cash Discounted and Loans |
-89.3 |
-174.0 |
31.2 |
- |
- |
|
Capital Reduction in Investee Company |
0.8 |
0.8 |
0.2 |
5.5 |
0.0 |
|
Products Deposits |
- |
2.8 |
-5.8 |
0.0 |
- |
|
Cash From Investing Activities |
-413.0 |
-257.9 |
-26.3 |
-129.0 |
-259.7 |
|
|
|
|
|
|
|
|
Short Term Borrowings Increase |
- |
10.3 |
10.0 |
- |
42.4 |
|
Repayment of ST Borrowings |
-69.6 |
- |
- |
-20.5 |
- |
|
Long Term Borrowings |
142.0 |
92.9 |
- |
- |
- |
|
Repayment of LT Borrowings |
- |
- |
-22.1 |
-16.4 |
-101.8 |
|
Issuance of Corporate Bonds |
- |
- |
- |
- |
67.0 |
|
Redemption of Corporate Bonds Payable |
0.0 |
-63.5 |
- |
-3.3 |
0.0 |
|
Increase/Decrease in Securities under Re |
-1.9 |
54.7 |
25.1 |
-6.7 |
12.5 |
|
Security Deposit Received |
0.8 |
-0.3 |
0.0 |
0.1 |
1.1 |
|
Employees Bonus |
- |
- |
- |
-0.1 |
0.0 |
|
Cash Dividend |
-20.6 |
-10.7 |
0.0 |
-9.2 |
0.0 |
|
Cash Capital |
41.9 |
- |
- |
- |
31.8 |
|
Treasury Stock Transferred to Employees |
0.0 |
3.0 |
0.0 |
- |
- |
|
Due from Banks and Central Bank |
50.2 |
1.7 |
13.6 |
-0.2 |
0.2 |
|
Discount & Loan |
- |
- |
- |
-38.7 |
-779.8 |
|
Deposits&Rem Increase |
191.8 |
120.5 |
-50.6 |
11.5 |
1,090.1 |
|
Minority Interest |
4.1 |
13.1 |
-2.9 |
7.5 |
7.6 |
|
Purchase of Treasury Shares |
-10.6 |
- |
- |
-3.0 |
0.0 |
|
Short Term Notes&Bills Payable Inc/Dec |
-3.9 |
- |
- |
- |
- |
|
Cash From Financing Activities |
324.1 |
221.8 |
-26.8 |
-78.9 |
371.1 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
1.7 |
-1.9 |
2.9 |
3.1 |
6.2 |
|
Net Change in Cash |
10.3 |
17.8 |
-25.8 |
-192.7 |
24.5 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
99.8 |
75.4 |
97.6 |
294.9 |
258.8 |
|
Net Cash - Ending Balance |
110.2 |
93.1 |
71.9 |
102.2 |
283.2 |
|
Cash Interest Paid |
15.8 |
18.3 |
22.4 |
36.4 |
11.9 |
|
Cash Taxes Paid |
12.5 |
5.4 |
2.7 |
3.6 |
15.2 |
Financial Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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Annual Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.03 |
|
UK Pound |
1 |
Rs.82.43 |
|
Euro |
1 |
Rs.70.49 |
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.