|
Report Date : |
27.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED |
|
|
|
|
Registered Office : |
No.8, Li-Hsin Rd. 6, Hsinchu Science Park, Hsinchu |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
21.02.1987 |
|
|
|
|
Com. Reg. No.: |
22099131 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and sale of integrated circuit, etc. |
|
|
|
|
No. of Employees : |
About 37,000 Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
Payment Behaviour : |
Regular |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
TAIWAN - ECONOMIC OVERVIEW
Taiwan has a dynamic capitalist economy with gradually
decreasing government guidance of investment and foreign trade. 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: |
|
|
Supplied Name: |
|
|
Trading Address: |
No.8, Li-Hsin Rd. 6, Hsinchu Science Park,
Hsinchu, Taiwan, R.O.C. |
|
Supplied Address: |
No 8 Li-Hsin Rd. VI Science BAsed Industrial
Park Hsin-Chu,Taiwan |
|
Telephone Number: |
+886-3-563-6688 |
|
Fax Number: |
|
|
E-mail: |
|
|
Website: |
Notes: The exact name and address are as above.
|
Credit Opinion: |
|
Registered Name: |
Taiwan Semiconductor Manufacturing Company Limited |
|
Registered Address: |
No.8, Li-Hsin Rd. 6, Hsinchu Science Park, Hsinchu, Taiwan, R.O.C. |
|
Date of Foundation: |
1987-2-21 |
|
Registration Number: |
22099131 |
|
Registry: |
Science Park Administration |
|
Registered Capital: |
NTD 270,500,000,000
(USD 9,197,000,000) (As of 2013.04, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 259,244,356,680 (USD 8,814,308,127.12) |
|
Legal Representatives: |
Zhongmou Zhang |
|
Legal Form: |
|
|
Principal Activities: |
Manufacturing and sale
of integrated circuit, etc |
|
Staff: |
|
|
Listed at Stock
Exchange: |
Stock Symbol: TPE:2330; NYSE: TSM |
|
Date of Last
Annual Return: |
Subject was incorporated on 1987-2-21 with registered
number 22099131 as Joint Stock Company in Taiwan.
Subject was listed
on Taiwan Stock exchange on 1994-9-5 with stock symbol: 2330.
Subject was listed
on New York Stock exchange on 1997-10-8 with stock symbol: TSM.
|
Name |
Subscription Shares |
|
Zhongmou Zhang |
123,137,914 |
|
Zhenrong Shi |
1,480,286 |
|
National Development Fund, Executive Yuan |
1,653,709,980 |
|
Fancheng Zeng |
34,662,675 |
|
Lixing Cai |
32,767,046 |
The information
above is that of subject’s major shareholders.
|
Manufacturing of 12-inch wafer |
|
|
1 |
|
|
Name |
Fab 12 |
|
Address |
No. 8, Li-Hsin Rd.
VI, Hsinchu Science Park, Hsinchu, Taiwan 300-78, R. O. C. |
|
2 |
|
|
Name |
Fab 12, Part 4,
TSMC R&D Center |
|
Address |
No.168, Park
Ave. II, Hsinchu Science Park, Hsinchu, Taiwan 300-75, R.O.C. |
|
3 |
|
|
Name |
Fab 14 |
|
Address |
1-1, Nan-Ke North
Rd., Tainan Science Park, Tainan, Taiwan 741-44, R.O.C |
|
4 |
|
|
Name |
Factory 15 |
|
Address |
No.1, Keya 6th
Rd., Daya Dist., Taichung City, Taiwan 428, R.O.C. |
|
Manufacturing of 8-inch wafer |
|
|
1 |
|
|
Name |
Fab 3 |
|
Address |
No. 9, Creation Rd.
I, Hsinchu Science Park, Hsinchu, Taiwan 300-77, R.O.C. |
|
2 |
|
|
Name |
Fab 5 |
|
Address |
No. 121 Park
Ave. III, Hsinchu Science Park, Hsinchu, Taiwan 300-77, R.O.C. |
|
3 |
|
|
Name |
Fab 6 |
|
Address |
No. 1, Nan-Ke North
Rd., Tainan Science Park, Tainan, Taiwan 741-44, R.O.C. |
|
4 |
|
|
Name |
Fab 8 |
|
Address |
No. 25, Li-Hsin
Rd., Hsinchu Science Park Hsinchu, Taiwan 300-78, R.O.C. |
|
5 |
|
|
Name |
TSMC China
Company Limited, Fab 10 |
|
Address |
4000, Wen Xiang Rd.,
Songjiang, Shanghai City, China |
|
6 |
|
|
Name |
WaferTech
L.L.C., Fab 11 |
|
Address |
5509 N.W. Parker
Street Camas, WA 98607-9299 U.S.A. |
|
7 |
|
|
Name |
SSMC (TSMC-NXP
JV) |
|
Address |
70 Pasir Ris
Drive 1, Singapore 519527 |
|
Manufacturing of 6-inch wafer |
|
|
1 |
|
|
Name |
Fab 2 |
|
Address |
No. 121 Park
Ave. III, Hsinchu Science Park, Hsinchu, Taiwan 300-77, R.O.C. |
|
Manufacturing of backend |
|
|
1 |
|
|
Name |
Advanced Backend
Fab 1 |
|
Address |
No. 6, Creation Rd.
II, Hsinchu Science Park, Hsinchu, Taiwan 300-77, R.O.C. |
|
2 |
|
|
Name |
Advanced Backend
Fab 2 |
|
Address |
No. 1, Nan-Ke
North Rd., Tainan Science Park, Tainan, Taiwan 741-44, R.O.C. |
Related Companies
|
1 |
|
|
Name |
TSMC North America |
|
Address |
2585 Junction
Avenue, San Jose, CA 95134, U.S.A. |
|
Tel |
+1-408-382-8000 |
|
Fax |
+1-408-382-8008 |
|
2 |
|
|
Name |
TSMC Europe B.V. |
|
Address |
World Trade
Center, Zuidplein 60, 1077 XV, Amsterdam, The Netherlands |
|
Tel |
+31-20-305-9900 |
|
Fax |
+31-20-305-9911 |
|
3 |
|
|
Name |
TSMC Japan
Limited |
|
Address |
21F Queen's
Tower C, 2-3-5, Minatomirai, Nishi-ku, Yokohama, Kanagawa, 220-6221, Japan |
|
Tel |
+81-45-6820670 |
|
Fax |
+81-45-6820673 |
|
4 |
|
|
Name |
TSMC Korea Limited |
|
Address |
15F, AnnJay
Tower, 718-2, Yeoksam-dong, Gangnam-gu, Seoul 135-080, South Korea |
|
Tel |
+82-2-2051-1688 |
|
Fax |
+82-2-2051-1669 |
|
5 |
|
|
Name |
TSMC India
Liaison Office |
|
Address |
1st Floor, Pine Valley,
Embassy Golf-Links Business Park, Bangalore - 560071, India |
|
6 |
|
|
Name |
TSMC Design
Technology Canada Inc. |
|
Address |
535 Legget Dr,
Suite 600, Kanata, ON K2K 3B8, Canada |
|
Tel |
+82-2-2051-1688 |
|
Fax |
+ 82-2-2051-1669 |
Core
Management
Directors
|
1 |
|
|
Name |
Zhongmou Zhang |
|
Position |
Board Chairman/
Manager |
|
Date of
Appointment |
2009-6-12 |
|
2 |
|
|
Name |
Zhenrong Shi |
|
Position |
Independent
Director |
|
3 |
|
|
Name |
Zhongxi Li |
|
Position |
Director |
|
4 |
|
|
Name |
Fancheng Zeng |
|
Position |
Director |
|
5 |
|
|
Name |
Lixing Cai |
|
Position |
Director |
|
6 |
|
|
Name |
Peter Leahy
Bonfield |
|
Position |
Independent
Director |
|
7 |
|
|
Name |
Thomas J.
Engibous |
|
Position |
Independent Director |
|
8 |
|
|
Name |
Zhizhuang Zou |
|
Position |
Independent
Director |
|
9 |
|
|
Name |
Guoci Chen |
|
Position |
Independent
Director |
|
10 |
|
|
Name |
Shangyi Jiang |
|
Position |
Manager |
|
Date of
Appointment |
2009-11-10 |
|
11 |
|
|
Name |
Zhejia Wei |
|
Position |
Manager |
|
Date of
Appointment |
1998-3-3 |
|
12 |
|
|
Name |
Deyin Liu |
|
Position |
Manager |
|
Date of
Appointment |
1999-5-11 |
|
13 |
|
|
Name |
Mengchao Zeng |
|
Position |
Manager |
|
Date of
Appointment |
2001-8-1 |
|
14 |
|
|
Name |
Dongyou Du |
|
Position |
Manager |
|
Date of
Appointment |
2002-2-8 |
|
15 |
|
|
Name |
Limei He |
|
Position |
Manager |
|
Date of
Appointment |
2003-9-8 |
|
16 |
|
|
Name |
Weiren Luo |
|
Position |
Manager |
|
Date of
Appointment |
2004-8-10 |
|
17 |
|
|
Name |
Dachuan Zuo |
|
Position |
Manager |
|
Date of
Appointment |
2004-11-2 |
|
18 |
|
|
Name |
Junsheng Chen |
|
Position |
Manager |
|
Date of
Appointment |
2004-3-31 |
|
19 |
|
|
Name |
Yuancheng Sun |
|
Position |
Manager |
|
Date of
Appointment |
2006-5-16 |
|
20 |
|
|
Name |
Yongpei Qin |
|
Position |
Manager |
|
Date of
Appointment |
2008-2-19 |
|
21 |
|
|
Name |
Nengxian Cai |
|
Position |
Manager |
|
Date of
Appointment |
2008-2-19 |
|
22 |
|
|
Name |
Richard B.
Cassidy II |
|
Position |
Manager |
|
Date of
Appointment |
2008-11-11 |
|
23 |
|
|
Name |
Zhongping Sun |
|
Position |
Manager |
|
Date of
Appointment |
2010-8-10 |
|
24 |
|
|
Name |
Jinkun Lin |
|
Position |
Manager |
|
Date of
Appointment |
2010-8-10 |
|
25 |
|
|
Name |
Jianguang Wang |
|
Position |
Manager |
|
Date of
Appointment |
2010-8-10 |
|
26 |
|
|
Name |
Benjian Lin |
|
Position |
Manager |
|
Date of
Appointment |
2011-2-15 |
|
27 |
|
|
Name |
Yuejie Mi |
|
Position |
Manager |
|
Date of
Appointment |
2011-8-9 |
|
28 |
|
|
Name |
Yongqing Hou |
|
Position |
Manager |
|
Date of
Appointment |
2011-8-9 |
Personnel
Structure
|
Total Employees |
About 37,000 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
No.8, Li-Hsin Rd. 6, Hsinchu Science Park, Hsinchu, Taiwan, R.O.C. |
Production
Information
l Subject is engaged
in manufacturing of integrated circuit,
etc.
l Subject obtained
the certifications of ISO 9001 (1993), Ford Q1 (1995), QS 9000 (1998), ISO/TS
16949, and IECQ QC 080000 (2006).
l Subject has factories in Taiwan, Mainland China, and USA for production
and the details information are as followed for reference.
Unit: Piece
|
Name |
Wafer Size |
2012 Annual Production Capacity |
|
Fab-2 |
6” |
1,012 |
|
Fab-3 |
8” |
281 |
|
Fab-5 |
147 |
|
|
Fab-6 |
8” |
299 |
|
Fab-8 |
8” |
260 |
|
Fab-12 |
12” |
366 |
|
Fab-14 |
12” |
546 |
|
Fab-15 |
12” |
164 |
|
WaferTech |
8” |
109 |
|
TSMC China |
8” |
226 |
(8" Equivalent Key Product Characteristics)
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
CC01090 |
Manufacturing of battery |
|
CC01040 |
Manufacturing of lighting equipment |
|
IG03010 |
Energy technology services |
|
-- |
Manufacturing and sale of IC and other wafer
semiconductor devices according to customers’ order |
|
-- |
Providing packaging and testing services of above
items |
|
-- |
Providing computer aided design technology
service |
|
-- |
Providing reticle and design service |
|
-- |
Research, development, design and manufacturing
of LED, lighting equipment and its related products and systems |
|
-- |
Research, development, design and manufacturing
of renewable energy sources and energy conservation related products, include
solar cell, solar energy module and its related products and systems |
l
The raw materials for production are purchased from
both home and abroad.
l
Subject is engaged in sale of integrated circuit, etc.
l It is introduced that subject is the biggest wafer foundry company in the
world.
l Subject’s sales
regions include Mainland China, Taiwan, Japan, South Korea, India, North
America, and Europe, etc.
l The products sold
by subject are applied to computer products, communication products, and
consume electrical products, etc.
l Subject’s major customers
include Broadcom, Qualcomm, NVIDIA, MARVEL, XILINX, ALTERA, and NXP, etc.
l Subject’s major
competitors in Taiwan are UMC and VIS.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials |
COD, CBD, Credit
Sale, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials |
CBD, etc |
100% |
Sales
Domestic Markets
(Taiwan and Mainland China)
|
Sales Terms |
Proportion |
|
|
Integrated circuit |
COD, CBD, Credit
Sale, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Integrated circuit |
CBD, etc |
100% |
Unit: NTD/000
|
|
2012-12-31 |
2011-12-31 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
109,150,810.00 |
85,262,521.00 |
|
Financial assets measured at fair value through
profit or loss - current |
38,824.00 |
14,925.00 |
|
Available-for-sale financial assets - current |
1,845,052.00 |
2,617,134.00 |
|
Held-to-maturity financial assets - current |
701,146.00 |
701,136.00 |
|
Accounts receivable - net |
9,519,656.00 |
14,521,387.00 |
|
Accounts receivable - related parties - net |
40,987,444.00 |
24,777,534.00 |
|
Other receivables - related parties |
274,963.00 |
188,028.00 |
|
Other financial assets - current |
175,261.00 |
122,010.00 |
|
Inventories |
35,296,391.00 |
22,853,397.00 |
|
Other current assets |
9,825,793.00 |
7,505,280.00 |
|
Current assets |
207,815,340.00 |
158,563,352.00 |
|
Funds and Investments |
|
|
|
Held-to-maturity financial assets - non current |
0.00 |
702,291.00 |
|
Financial assets carried at cost - non current |
483,759.00 |
497,835.00 |
|
Equity investments under equity method |
139,264,161.00 |
128,200,718.00 |
|
Investments |
139,264,161.00 |
128,200,718.00 |
|
Funds and long-term investments |
139,747,920.00 |
129,400,844.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Buildings and structures |
173,344,932.00 |
149,495,478.00 |
|
Machinery and equipment |
1,202,761,097.00 |
984,978,666.00 |
|
Office equipment |
16,683,484.00 |
13,824,434.00 |
|
Fixed assets cost |
1,392,789,513.00 |
1,148,298,578.00 |
|
Accumulated depreciation |
-924,961,566.00 |
-804,740,797.00 |
|
Construction in process and prepayment for
equipments |
118,775,347.00 |
110,815,752.00 |
|
Fixed assets |
586,603,294.00 |
454,373,533.00 |
|
Intangible Assets |
|
|
|
Goodwill |
1,567,756.00 |
1,567,756.00 |
|
Other intangible assets |
4,882,081.00 |
4,719,244.00 |
|
Intangible assets |
6,449,837.00 |
6,287,000.00 |
|
OtherAssets |
|
|
|
Guarantee deposits paid |
2,394,826.00 |
4,491,735.00 |
|
Deferred income tax assets - non current |
2,244,947.00 |
7,221,824.00 |
|
Other assets - other |
917,019.00 |
1,069,586.00 |
|
Other assets |
5,556,792.00 |
12,783,145.00 |
|
Assets |
946,173,183.00 |
761,407,874.00 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowings |
34,714,929.00 |
25,926,528.00 |
|
Financial liabilities measured at fair value
through profit or loss - current |
6,274.00 |
0.00 |
|
Accounts payable |
13,392,221.00 |
9,522,688.00 |
|
Accounts payable - related parties |
3,230,342.00 |
2,992,582.00 |
|
Income tax payable |
15,196,399.00 |
10,647,797.00 |
|
Accrued expenses |
16,698,014.00 |
13,057,161.00 |
|
Other payables |
55,557,699.00 |
42,867,674.00 |
|
Long-term liabilities - current portion |
0.00 |
4,500,000.00 |
|
Current liabilities |
138,795,878.00 |
109,514,430.00 |
|
Long term Liabilities |
|
|
|
Bonds payable |
80,000,000.00 |
18,000,000.00 |
|
Long-term notes and accounts payable |
54,000.00 |
0.00 |
|
Long-term liabilities |
80,054,000.00 |
18,000,000.00 |
|
Reserves |
|
|
|
Other Liabilities |
|
|
|
Pension reserve / accrued pension liability |
3,926,276.00 |
3,860,898.00 |
|
Guarantee deposits received |
199,315.00 |
439,032.00 |
|
Other liabilities |
4,125,591.00 |
4,299,930.00 |
|
Liabilities |
222,975,469.00 |
131,814,360.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
259,244,357.00 |
259,162,226.00 |
|
Capital Surplus |
|
|
|
Capital surplus - additional paid-in capital |
32,827,454.00 |
32,667,097.00 |
|
Capital surplus - donated assets received |
55.00 |
55.00 |
|
Capital surplus - long-term equity investments |
505,790.00 |
374,695.00 |
|
Capital surplus - premium from merger |
22,804,510.00 |
22,804,510.00 |
|
Capital surplus |
56,137,809.00 |
55,846,357.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
115,820,123.00 |
102,399,995.00 |
|
Special reserve |
7,606,224.00 |
6,433,874.00 |
|
Unappropriated retained earnings |
287,174,942.00 |
213,357,286.00 |
|
Retained earnings |
410,601,289.00 |
322,191,155.00 |
|
Stockholders' Equity and Other adjustment |
|
|
|
Cumulative translation adjustments |
-10,753,763.00 |
-6,433,369.00 |
|
Net loss not recognized as pension cost |
-5,299.00 |
0.00 |
|
Unrealized gains (losses) on financial
instruments |
7,973,321.00 |
-1,172,855.00 |
|
Equity adjustments |
-2,785,741.00 |
-7,606,224.00 |
|
Stockholdersˉ equity |
723,197,714.00 (USD 24,588,722,276.00) |
629,593,514.00 (USD 21,406,179,476.00) |
|
Number of treasury stock acquired by the company
and subsidiaries (unit: share) |
0.00 |
0.00 |
|
|
0.00 |
0.00 |
(As of 2013.04, 1 NTD =
0.0340 USD)
Unit: NTD/000
|
|
2012-1-1~2012-12-31 |
2011-1-1~2011-12-31 |
|
Sales |
506,697,738.00 (USD
17,227,723,092.00) |
421,472,087.00 (USD 14,330,050,958.00) |
|
Sales returns |
6,825,851.00 |
3,226,594.00 |
|
Sales |
499,871,887.00 |
418,245,493.00 |
|
Operating income |
499,871,887.00 |
418,245,493.00 |
|
Cost of sales |
265,538,540.00 |
233,083,068.00 |
|
Operating costs |
265,538,540.00 |
233,083,068.00 |
|
Gross profit (loss) from operations |
234,333,347.00 |
185,162,425.00 |
|
Unrealized gains on intercompany transactions |
25,029.00 |
0.00 |
|
Realized gains on intercompany transactions |
0.00 |
398,440.00 |
|
Selling expense |
2,388,243.00 |
2,345,729.00 |
|
General and administrative expenses |
16,330,060.00 |
12,715,339.00 |
|
Research and development expenses |
38,788,245.00 |
31,594,034.00 |
|
Operating expenses |
57,506,548.00 |
46,655,102.00 |
|
Operating income (loss) |
176,801,770.00 |
138,905,763.00 |
|
Non-Operating Income |
|
|
|
Interest income |
867,227.00 |
697,196.00 |
|
Income from long-term equity investments under
the equity method |
8,127,748.00 |
3,778,083.00 |
|
Investment income |
8,127,748.00 |
3,778,083.00 |
|
Revaluation gain on financial assets |
0.00 |
801,195.00 |
|
Miscellaneous income |
2,193,102.00 |
2,010,572.00 |
|
Non-operating revenues and gains |
11,188,077.00 |
7,287,046.00 |
|
Non-Operating Expenses |
|
|
|
Interest expense |
945,114.00 |
445,887.00 |
|
Loss on disposal of fixed assets |
146,647.00 |
202,901.00 |
|
Foreign exchange losses |
0.00 |
673,085.00 |
|
Impairment loss on assets |
3,095,859.00 |
0.00 |
|
Miscellaneous disbursements |
172,279.00 |
163,092.00 |
|
Non-operating expenses and losses |
4,359,899.00 |
1,484,965.00 |
|
Income from continuing operations before income
tax |
183,629,948.00 |
144,707,844.00 |
|
Income tax expense (benefit) |
17,471,146.00 |
10,506,565.00 |
|
Income from continuing operations |
166,158,802.00 |
134,201,279.00 |
|
Net income (loss) |
166,158,802.00 (USD 5,649,399,268.00) |
134,201,279.00 (USD 4,562,843,486.00) |
|
Primary Earnings per Share |
|
|
|
Primary earnings per share |
6.41 |
5.18 |
|
Diluted earnings per share |
|
|
|
Diluted earnings per share |
6.41 |
5.18 |
(As of 2013.04, 1 NTD =
0.0340 USD)
Unit: NTD/000
|
|
2012-1-1~2012-12-31 |
2011-1-1~2011-12-31 |
|
Cash Flows from Operating Activities - Indirect
Method |
|
|
|
Net Income (Loss) |
166,158,802.00 |
134,201,279.00 |
|
Adjustments to Reconcile Net Income to Net Cash
Provided by (Used in) Operating Activities |
|
|
|
Depreciation Expense |
122,377,815.00 |
100,773,079.00 |
|
Amortization Expense |
2,022,064.00 |
2,152,344.00 |
|
Amortization of Premiums (Discounts) on Financial
Assets |
2,281.00 |
9,860.00 |
|
Investment Loss (Income) Recognized under Equity
Method |
-8,127,748.00 |
-3,778,083.00 |
|
Cash Dividends Received from Investments
Accounted for under Equity Method |
1,688,878.00 |
2,941,548.00 |
|
Loss (Gain) on Disposal of Property, Plant and
Equipment |
6,177.00 |
-34,307.00 |
|
Loss (Gain) on Disposal of Other Assets |
119,311.00 |
134,191.00 |
|
Loss (Gain) on Disposal of Investments |
-110,365.00 |
-35,151.00 |
|
Impairment Losses on Financial Asset |
2,677,529.00 |
0.00 |
|
Impairment Loss on Non-Financial Assets |
418,330.00 |
0.00 |
|
Unrealized Gain (Loss) on Intercompany
Transactions |
25,029.00 |
0.00 |
|
Realized Loss (Gain) on Intercompany Transactions |
0.00 |
-398,440.00 |
|
Loss (Gain) on Deferred Income Tax |
2,618,657.00 |
-493,026.00 |
|
Changes in Operating Assets and Liabilities |
|
|
|
Decrease (Increase) in Financial Assets Held for
Trading |
-17,625.00 |
-22,759.00 |
|
Decrease (Increase) in Accounts Receivable |
5,001,731.00 |
-99,926.00 |
|
Decrease (Increase) in Accounts Receivable -
Related Parties |
-16,209,910.00 |
956,440.00 |
|
Decrease (Increase) in Other Receivable- Related Parties |
-89,347.00 |
-38,049.00 |
|
Decrease (Increase) in Inventories |
-12,442,994.00 |
2,775,646.00 |
|
Decrease (Increase) in Other Current Assets |
-371,593.00 |
-382,852.00 |
|
Decrease (Increase) in Other Financial Assets |
-53,251.00 |
138,196.00 |
|
Increase (Decrease) in Accounts Payable |
1,361,012.00 |
-1,805,422.00 |
|
Increase (Decrease) in Accounts Payable - Related
Parties |
-67,770.00 |
418,132.00 |
|
Increase (Decrease) in Income Tax Payable |
4,548,602.00 |
3,538,928.00 |
|
Increase (Decrease) in Accrued Expenses |
3,556,824.00 |
-410,047.00 |
|
Increase (Decrease) in Other Current Liabilities |
2,130,887.00 |
-1,903,765.00 |
|
Increase (Decrease) in Accrued Pension
Liabilities |
65,378.00 |
96,880.00 |
|
Net Cash Provided by (Used in) Operating
Activities |
277,288,704.00 |
238,734,696.00 |
|
Cash Flows from Investing Activities |
|
|
|
Proceeds from Disposal of Available-for-sale
Financial Assets |
612,834.00 |
1,035,151.00 |
|
Repayments of Held-to-maturity Financial Assets |
700,000.00 |
4,789,000.00 |
|
Acquisition of Financial Assets Carried at Cost |
-1,093.00 |
0.00 |
|
Proceeds from Disposal of Financial Assets
Carried at Cost |
14,900.00 |
0.00 |
|
Acquisition of Investments Accounted for by
Equity Method |
-2,259,244.00 |
-7,390,883.00 |
|
Proceeds from Capital Reduction of Investments
Accounted for under Equity Method |
587,902.00 |
320,013.00 |
|
Purchase of Property, Plant and Equipment |
-242,063,668.00 |
-202,757,541.00 |
|
Proceeds from Disposal of Property, Plant and
Equipment |
84,984.00 |
4,649,831.00 |
|
Proceeds from Disposal of Rental Assets and Idle
Assets |
9,000.00 |
247.00 |
|
Decrease (Increase) in Refundable Deposits |
2,096,909.00 |
4,147,014.00 |
|
Increase in Deferred Charges |
-1,743,043.00 |
-1,658,296.00 |
|
Decrease (Increase) in Other Assets |
17,600.00 |
27,600.00 |
|
Other Investing Activities |
0.00 |
-1,270,340.00 |
|
Net Cash Provided by (Used in) Investing
Activities |
-241,942,919.00 |
-198,108,204.00 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in Short-term Loans |
8,788,401.00 |
-4,982,109.00 |
|
Proceeds from Issuance of Bonds |
62,000,000.00 |
18,000,000.00 |
|
Repayments of Bonds |
-4,500,000.00 |
0.00 |
|
Increase (Decrease) in Guarantee Deposits
Received |
-239,717.00 |
-308,855.00 |
|
Cash Dividends Paid |
-77,748,668.00 |
-77,730,236.00 |
|
Exercise of Employee Stock Options |
242,488.00 |
217,697.00 |
|
Purchase of Treasury Stock |
0.00 |
-71,598.00 |
|
Net Cash Provided by (Used in) Financing
Activities |
-11,457,496.00 |
-64,875,101.00 |
|
Net Increase (Decrease) in Cash and Cash Equivalents |
23,888,289.00 |
-24,248,609.00 |
|
Cash and Cash Equivalents, Beginning of year |
85,262,521.00 |
109,511,130.00 |
|
Cash and Cash Equivalents, End of year |
109,150,810.00 |
85,262,521.00 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid |
670,165.00 |
369,085.00 |
|
Interest Paid- Excluding Capitalized Interest |
670,165.00 |
369,085.00 |
|
Income Tax Paid |
10,312,114.00 |
7,454,386.00 |
|
Non-cash Investing and Financing Activities |
|
|
|
Current Portion of Long-term Liabilities |
59,000.00 |
0.00 |
|
Current Portion of Bonds Payable |
0.00 |
4,500,000.00 |
|
Property, Plant and Equipment Transferred to
Idled Assets |
418,330.00 |
0.00 |
|
Other Supplemental Information |
|
|
|
Acquisition of property, plant and equipment |
255,108,068.00 |
195,932,728.00 |
|
Increase in payables to contractors and equipment
suppliers |
-12,764,075.00 |
6,827,106.00 |
|
Increase in
payables to related parties |
-280,256.00 |
0.00 |
|
Nonmonetary exchange trade-out price |
-69.00 |
-2,293.00 |
|
Cash paid |
242,063,668.00 |
202,757,541.00 |
|
Disposal of property, plant and equipment and
other assets |
91,641.00 |
3,370,165.00 |
|
Decrease in other receivables from related
parties |
2,412.00 |
1,124,206.00 |
|
Decrease in other financial assets |
0.00 |
158,000.00 |
|
Nonmonetary exchange trade-out price |
-69.00 |
-2,293.00 |
|
Cash received |
93,984.00 |
4,650,078.00 |
|
Acquisition of deferred charges |
2,184,901.00 |
1,658,296.00 |
|
Increase in accounts payable |
-303,584.00 |
0.00 |
|
Increase in payables to related parties |
-25,274.00 |
0.00 |
|
Increase in other long-term payables |
-113,000.00 |
0.00 |
|
Cash paid |
1,743,043.00 |
1,658,296.00 |
Subject declined to disclose its bank details; from other source we
cannot obtain the relevant information, either.
Mortgage
No chattel mortgage record of subject has been found within the recent 3
months.
Lawsuit
|
1 |
|
|
2012, Laosu,5 |
|
|
Date of Trial: |
2012-8-10 |
|
Reason: |
To confirm the employment relationship existence |
|
2 |
|
|
Trial Number: |
2010,Chonglaosu,1 |
|
Date of Trial: |
2010-7-13 |
|
Reason: |
Compensation for damages |
|
3 |
|
|
Trial Number: |
2010,Chonglaosu,1 |
|
Date of Trial: |
2010-6-11 |
|
Reason: |
Compensation for damages |
|
4 |
|
|
Trial Number: |
2008,Chongsu,153 |
|
Date of Trial: |
2009-7-24 |
|
Reason: |
Pay for project funds |
|
5 |
|
|
Trial Number: |
2006,Chongsu,11 |
|
Date of Trial: |
2009-3-11 |
|
Reason: |
Pay for electric charge |
|
6 |
|
|
Trial Number: |
2008,Bu,827 |
|
Date of Trial: |
2008-9-5 |
|
Reason: |
Pay for project funds |
|
7 |
|
|
Trial Number: |
2005,Chongsu,133 |
|
Date of Trial: |
2007-2-6 |
|
Reason: |
Request for the mortgage registration |
|
8 |
|
|
Trial Number: |
2005,Chongsu,133 |
|
Date of Trial: |
2006-11-30 |
|
Reason: |
Request for the mortgage registration |
|
9 |
|
|
Trial Number: |
2005,Bu,563 |
|
Date of Trial: |
2005-8-25 |
|
Reason: |
Request for the mortgage registration |
|
10 |
|
|
Trial Number: |
2004, Jianshang,22 |
|
Date of Trial: |
2004-11-17 |
|
Reason: |
Request for stock transfer |
|
Name |
Ms. Xie |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
|
|
1 |
Rs.83.88 |
|
Euro |
1 |
Rs.70.67 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.