|
Report Date : |
30.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
ETERNAL CHEMICAL CO., LTD. |
|
|
|
|
Registered Office : |
No.578, Chien-Kung Rd., Kaohsiung |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
03.12.1964 |
|
|
|
|
Com. Reg. No.: |
75339004 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture and sale of chemical
products, etc. |
|
|
|
|
No. of Employees : |
About 1,800 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: |
|
|
Supplied Address: |
|
|
Telephone Number: |
|
|
Fax Number: |
Notes: The exact name and address are as above.
Subject was incorporated on 1964-12-3 with registered number 75339004 as Joint Stock Company in Taiwan.
Subject was listed on Taiwan
Stock Exchange on 1994-3-31.
Awards
|
Year
|
Awards
|
|
2008 |
Blue
chip importer and exporter |
|
2009 |
Blue
chip importer and exporter |
|
2010 |
Blue
chip importer and exporter |
Standard of Blue
chip importer and exporter
Unit: USD
|
Year |
Amount |
|
2008 |
18,000,000 |
|
2009 |
19,000,000 |
|
2010 |
15,000,000 |
|
Subscription Share |
|
|
Guolun Gao |
46,037,469 |
|
Huaikun Yang |
14,679,467 |
|
Wutong Huang |
3,137,359 |
|
Cifei Xiao |
446,813 |
|
Jinkun Xie |
691,179 |
|
Yingzhi Gao |
15,884,028 |
|
Kwang Yang Motor Co., Ltd |
98,418,906 |
|
Maozheng Chen |
5,488,600 |
|
Hong Zhang |
21,640 |
The information above is that of subject’s major shareholders.
|
1 |
|
|
Name |
Luzhu Branch |
|
Address: |
No.22, Changing
Road, Houlang Village, Luzhu District, Kaohsiung City, Taiwan |
|
Registration
Number |
84894209 |
|
Date of
Registration |
1994-7-5 |
|
Status |
Dissolved |
|
Manager Name |
Mingzhao Su |
|
Date of Last
Annual Return |
2001-5-31 |
|
2 |
|
|
Name |
Ping-Nan Branch |
|
Address: |
1F, 23, Ping-Nan
Rd., Ping-Nan Industrial Zone, Fang-Liao Hsiang, Ping Tung Hsien, Taiwan |
|
Registration
Number |
84309782 |
|
Date of
Registration |
1994-2-15 |
|
Status |
Live
Company |
|
Manager Name |
Henning Liao |
|
Date of Last
Annual Return |
2003-2-14 |
Related Companies:
|
1 |
|
|
Name |
Eternal
Photoelectric Material Industry (Yingkou) Co., Ltd. |
|
Address: |
102 Xinhai
Street, Yingkou Coastal Industrial Base ,Liaoning, China |
|
Telephone Number: |
+86-417-293-5000 |
|
Fax Number: |
+86-417-292-7935 |
|
E-mail: |
|
|
Main Product: |
Dry Film Photoresist |
|
2 |
|
|
Name |
Eternal Chemical
(Tianjin) Co., Ltd. |
|
Address: |
Tianjin Dagang
Petrochemical industrial Park |
|
Telephone Number: |
+86-22-5972-3366 |
|
Fax Number: |
+86-22-5972-3377 |
|
E-mail: |
|
|
Main Product: |
Acrylic Resin,
Alkyd Resin |
|
3 |
|
|
Name |
Eternal Chemical
(China) Co., Ltd. |
|
Address: |
566 Qingyang N.
Road, Zhoushi Town, Kunshan, Jiangsu, China |
|
Telephone Number: |
+86-512-5762-2168 |
|
Fax Number: |
+86-512-5762-1859 |
|
E-mail: |
|
|
Main Product: |
General Purpose
Resins, Synthetic Resins for Coatings |
|
4 |
|
|
Name |
Eternal
Electronic Materials (Kunshan) Co., Ltd. |
|
Address: |
267 Qingyang
Road, Zhoushi Town, Kunshan, Jiangsu, China |
|
Telephone Number: |
+86-512-5771-7512 |
|
Fax Number: |
+86-512-5771-8011 |
|
E-mail: |
|
|
Main Product: |
General Purpose
Resins, Synthetic Resins for Coatings |
|
5 |
|
|
Name |
Eternal Photoelectric Material Industry (Kunshan) Co.,
Ltd. |
|
Address: |
363 Changjiang
N. Road, Kunshan, Jiangsu, China |
|
Telephone Number: |
+86-512-5766-9486 |
|
Fax Number: |
+86-512-5766-9489 |
|
E-mail: |
|
|
Main Product: |
Dry Film
Photoresist |
|
6 |
|
|
Name |
Eternal Synthetic Resins (Changshu) Co., Ltd. |
|
Address: |
15 Xinggang Road,
Riverside Industrial Park Changshu, Jiangsu, China |
|
Telephone Number: |
+86-512-5286-0006 |
|
Fax Number: |
+86-512-5286-0007 |
|
E-mail: |
|
|
Main Product: |
Unsaturated
Polyester Resins |
|
7 |
|
|
Name |
Eternal Optical Material (Suzhou) Co., Ltd. |
|
Address: |
111 Songshan
Road, SND, Suzhou, Jiangsu, China |
|
Telephone Number: |
+86-512-6805-0026 |
|
Fax Number: |
+86-512-6805-0025 |
|
E-mail: |
|
|
Main Product: |
Optical Material |
|
8 |
|
|
Name |
Eternal Technologies (Shanghai) Co., Ltd. |
|
Address: |
1397 Yishan
Road, Shanghai, China |
|
Telephone Number: |
+86-21-6401-6000 |
|
Fax Number: |
+86-21-6406-3225 |
|
E-mail: |
|
|
Main Product: |
Research and
Development |
|
9 |
|
|
Name |
ESCO Specialty Coatings (Shanghai) Co., Ltd. |
|
Address: |
NO.1269, Linxian
Road, Jinshan Industrial Zone, Shanghai |
|
Telephone Number: |
+86-21-3369-2188 |
|
Fax Number: |
+86-21-3369-2269 |
|
E-mail: |
|
|
Main Product: |
Specialty
Coating |
|
10 |
|
|
Name |
Eternal Chemical (Guangdong) Co., Ltd. |
|
Address: |
Dalang Bay
Industrial Zone, Nanshui Town, Zhuhai, Guangdong, China |
|
Telephone Number: |
+86-756-726-5566 |
|
Fax Number: |
+86-756-398-5577 |
|
E-mail: |
|
|
Main Product: |
General Purpose
Resins, Synthetic Resins for Coatings, Unsaturated Polyester Resins |
|
11 |
|
|
Name |
Eternal Specialty Chemical (Zhuhai) Co., Ltd. |
|
Address: |
Biyang Road,
Gaolan Petrochemical Sector of Harbor Industrial Zone, Zhuhai, Guangdong,
China |
|
Telephone Number: |
+86-756-398-5888 |
|
Fax Number: |
+86-756-398-5111 |
|
E-mail: |
|
|
Main Product: |
Specialty Monomer, Oligomer, OPV |
|
12 |
|
|
Name |
Eternal Electronic Material (Guangzhou) Co., Ltd. |
|
Address: |
69 Dongpeng Road, Eastern Zone, GETDD, Guangzhou,
Guangdong, China |
|
Telephone Number: |
+86-20-8226-4378 |
|
Fax Number: |
+86-20-8226-4290 |
|
E-mail: |
|
|
Main Product: |
Dry Film
Photoresist |
|
13 |
|
|
Name |
Eternal Photo Electronic Materials (Guangzhou) Co.,
Ltd. |
|
Address: |
No. 8, Ruihe Road, Science City, New and High
Technology Industrial Development Zone, Guangzhou, Guangdong, China |
|
Telephone Number: |
+86-20-3220-6688 |
|
Fax Number: |
+86-20-8226-4290 |
|
E-mail: |
|
|
Main Product: |
Dry Film
Photoresist |
|
14 |
|
|
Name |
Eternal Technology Corporation |
|
Address: |
1800 Touchstone Road Colonial Heights, VA 23834, U.S.A. |
|
Telephone Number: |
+1-804-524-8555/524-8557 |
|
Fax Number: |
+1-804-524-8556 |
|
E-mail: |
|
|
Main Product: |
Dry Film
Photoresist |
|
15 |
|
|
Name |
Eternal Electronic Material (Thailand) Co., Ltd. |
|
Address: |
335/8 Moo 9, Bangna-Trad., Rd., KM 19 Tambol
Bangchalong AmphurBangplee, Samutprakarn 10540 |
|
Telephone Number: |
+662-750-9086/750-9097/750-9147/337-30097 |
|
Fax Number: |
+662-750-9096 |
|
E-mail: |
|
|
Main Product: |
Dry Film
Photoresist |
Core Management
|
1 |
|
|
Name |
Guolun Gao |
|
Position |
Board Chairman/
Manager |
|
Date of
Appointment |
2000-6-30 |
|
2 |
|
|
Name |
Huaikun Yang |
|
Position |
Director |
|
3 |
|
|
Name |
Wutong Huang |
|
Position |
Director |
|
4 |
|
|
Name |
Cifei Xiao |
|
Position |
Director/
Manager |
|
Date of
Appointment |
1992-4-25 |
|
5 |
|
|
Name |
Jinkun
Xie |
|
Position |
Director/
Manager |
|
Date of
Appointment |
2001-1-15 |
|
6 |
|
|
Name |
Yingzhi Gao |
|
Position |
Director |
|
7 |
|
|
Name |
Junbin
Ke |
|
Position |
Director |
|
8 |
|
|
Name |
Maozheng Chen |
|
Position |
Supervisor |
|
9 |
|
|
Name |
Hong Zhang |
|
Position |
Supervisor |
|
10 |
|
|
Name |
Mingzhao Su |
|
Position |
Manager |
|
Date of
Appointment |
1998-6-15 |
|
11 |
|
|
Name |
Shunren Huang |
|
Position |
Manager |
|
Date of
Appointment |
2001-1-15 |
|
12 |
|
|
Name |
Jinyuan Chen |
|
Position |
Manager |
|
Date of
Appointment |
2011-2-21 |
|
13 |
|
|
Name |
Mingren Chen |
|
Position |
Manager |
|
Date of
Appointment |
2011-2-21 |
|
14 |
|
|
Name |
Shuwen Yan |
|
Position |
Manager |
|
Date of
Appointment |
2013-1-1 |
Personnel
Structure
|
Total Employees |
About 1,800
Employees |
|
Research Fellows |
About 240
Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
Production
Information
l
Subject is engaged in manufacturing of
chemical products.
l
Subject has factories in Taiwan,
mainland China and USA for production.
l
Subject obtained the certifications of ISO
9001, ISO 14001, OHSAS 18001, etc.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
C801040 |
Manufacture of synthetic resin |
|
CC01080 |
Manufacture of electronic material |
|
C802030 |
Manufacture of painting |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
l
The raw materials for production are
purchased from both home and abroad.
l
It is introduced that subject imports some
technology from Japan, USA, Germany, and France.
l Subject
is engaged in sale of chemical products, etc.
l
Subject introduced that the major types
of products sold by subject include resins materials, specialty chemical,
electronic chemical materials, and semiconductor materials and so on.
l
Subject’s sales regions include
mainland China, Taiwan, Japan, Vietnam, Thailand, Holland, and USA, etc
l
Subject has their own brand “Eternal”.
Major
product
|
Type |
Product |
|
Resins Materials |
Synthetic Resins, General Purpose
Resins, Unsaturated Polyester Resins, Vinyl Ester Resins |
|
Specialty Chemicals |
Mono-Functional Monomers,
Di-Functional Monomers, Tri-Functional Monomers, Multi-Functional Monomers,
Rigid Monomers, Ethoxylated Monomers, Propoxylated Monomers, Specialty
Coatings |
|
Electronic Chemical Materials |
Phenolic Insulation Board, Carbon
Board, Bakelite, Photoresist Materials, Polyimide Materials, Photosensitive Polyimide Materials, Diffusion Film, Reflection
Film, Normal Prism, Multi-Function Prism Film, Hard Coating Film, Anti-Finger
Hard Coating Film |
|
Semiconductor materials |
Epoxy Molding Compound |
Import
and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase (Taiwan and Mainland, China)
|
Payment Terms |
Proportion |
|
|
Raw materials |
T/T, Credit
Sale, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials |
L/C, T/T, etc |
100% |
Sales
Domestic
Markets (Taiwan and Mainland China)
|
Sales Terms |
Proportion |
|
|
Chemicals
products |
Cash, T/T,
Credit Sale, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Chemicals
products |
L/C, T/T, etc |
100% |
Unit: NTD/000
|
|
2012-12-31 |
2011-12-31 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
1,468,917.00 |
214,011.00 |
|
Notes receivable - net |
612,625.00 |
541,792.00 |
|
Notes receivable - related parties - net |
1,820.00 |
2,747.00 |
|
Accounts receivable - net |
2,313,962.00 |
2,690,175.00 |
|
Accounts receivable - related parties - net |
699,128.00 |
769,789.00 |
|
Other receivables - related parties |
122,002.00 |
124,226.00 |
|
Other financial assets - current |
328,975.00 |
32,995.00 |
|
Inventories |
2,836,294.00 |
3,100,811.00 |
|
Other current assets |
258,116.00 |
336,063.00 |
|
Current assets |
8,641,839.00 |
7,812,609.00 |
|
Funds and Investments |
|
|
|
Available-for-sale financial assets - non current |
581,563.00 |
482,404.00 |
|
Financial assets carried at cost - non current |
147,754.00 |
447,754.00 |
|
Equity investments under equity method |
18,545,337.00 |
17,756,758.00 |
|
Investments |
18,545,337.00 |
17,756,758.00 |
|
Other financial assets - non current |
17,680.00 |
16,628.00 |
|
Funds and long-term investments |
19,292,334.00 |
18,703,544.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
487,080.00 |
449,008.00 |
|
Buildings and structures |
2,417,306.00 |
2,296,523.00 |
|
Machinery and equipment |
6,601,584.00 |
6,283,299.00 |
|
Warehousing equipment |
469,158.00 |
453,916.00 |
|
Testing equipment |
824,620.00 |
778,456.00 |
|
Other facilities |
79,331.00 |
85,135.00 |
|
Revaluation increment |
1,977,218.00 |
1,977,218.00 |
|
Cost and revaluation increment |
12,856,297.00 |
12,323,555.00 |
|
Accumulated depreciation |
-7,993,011.00 |
-7,584,122.00 |
|
Accumulated impairment - fixed assets |
-168,176.00 |
-168,274.00 |
|
Construction in process and prepayment for
equipments |
125,659.00 |
265,357.00 |
|
Fixed assets |
4,820,769.00 |
4,836,516.00 |
|
Intangible Assets |
|
|
|
Deferred pension cost |
11,042.00 |
14,828.00 |
|
Other intangible assets |
47,145.00 |
83,141.00 |
|
Intangible assets |
58,187.00 |
97,969.00 |
|
OtherAssets |
|
|
|
Other assets - other |
9,370.00 |
36,076.00 |
|
Other assets |
9,370.00 |
36,076.00 |
|
Assets |
32,822,499.00 |
31,486,714.00 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowings |
1,324,970.00 |
1,019,162.00 |
|
Short-term notes and bills payable |
449,683.00 |
599,318.00 |
|
Notes payable |
47,311.00 |
20,330.00 |
|
Accounts payable |
1,573,159.00 |
1,244,378.00 |
|
Income tax payable |
110,370.00 |
43,379.00 |
|
Accrued expenses |
481,557.00 |
451,023.00 |
|
Long-term liabilities - current portion |
2,070,000.00 |
0.00 |
|
Other current liabilities |
130,784.00 |
174,375.00 |
|
Current liabilities |
6,187,834.00 |
3,551,965.00 |
|
Long term Liabilities |
|
|
|
Financial liabilities measured at fair value
through profit or loss - non current |
0.00 |
5,606.00 |
|
Long-term borrowings |
5,030,000.00 |
6,300,000.00 |
|
Long-term liabilities |
5,030,000.00 |
6,305,606.00 |
|
Reserves |
|
|
|
Reserve for land revaluation increment tax |
640,717.00 |
640,717.00 |
|
Reserves |
640,717.00 |
640,717.00 |
|
Other Liabilities |
|
|
|
Pension reserve / accrued pension liability |
961,981.00 |
856,951.00 |
|
Deferred income tax liabilities |
1,738,488.00 |
1,617,254.00 |
|
Other liabilities - other |
3,347.00 |
1,740.00 |
|
Other liabilities |
2,703,816.00 |
2,475,945.00 |
|
Liabilities |
14,562,367.00 |
12,974,233.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
9,923,971.00 |
9,923,971.00 |
|
Capital Surplus |
|
|
|
Capital surplus - additional paid-in capital |
309,017.00 |
309,017.00 |
|
Capital surplus - treasury stock transactions |
19,642.00 |
19,642.00 |
|
Capital surplus - long-term equity investments |
37,099.00 |
5,889.00 |
|
Capital surplus |
365,758.00 |
334,548.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
2,497,454.00 |
2,375,769.00 |
|
Unappropriated retained earnings |
3,451,361.00 |
3,303,021.00 |
|
Retained earnings |
5,948,815.00 |
5,678,790.00 |
|
Stockholders' Equity and Other adjustment |
|
|
|
Cumulative translation adjustments |
882,985.00 |
1,499,029.00 |
|
Net loss not recognized as pension cost |
-299,574.00 |
-262,875.00 |
|
Unrealized gains (losses) on financial instruments |
416,592.00 |
317,433.00 |
|
Unrealized Revaluation Increment |
1,021,585.00 |
1,021,585.00 |
|
Equity adjustments |
2,021,588.00 |
2,575,172.00 |
|
Stockholders- equity |
18,260,132.00 (USD 620,844,488) |
18,512,481.00 (USD 629,424,354) |
|
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 |
16,906,798.00 (USD 574,831,132) |
18,476,308.00 (USD 628,194,472) |
|
Sales returns |
48,910.00 |
25,878.00 |
|
Sales discounts and allowances |
23,640.00 |
24,413.00 |
|
Sales |
16,834,248.00 |
18,426,017.00 |
|
Operating income |
16,834,248.00 |
18,426,017.00 |
|
Cost of sales |
14,214,412.00 |
16,176,759.00 |
|
Operating costs |
14,214,412.00 |
16,176,759.00 |
|
Gross profit (loss) from operations |
2,619,836.00 |
2,249,258.00 |
|
Selling expense |
799,203.00 |
760,020.00 |
|
General and administrative expenses |
566,247.00 |
566,375.00 |
|
Research and development expenses |
932,363.00 |
818,042.00 |
|
Operating expenses |
2,297,813.00 |
2,144,437.00 |
|
Operating income (loss) |
322,023.00 |
104,821.00 |
|
Non-Operating Income |
|
|
|
Income from long-term equity investments under
the equity method |
1,256,843.00 |
1,187,123.00 |
|
Investment income |
1,256,843.00 |
1,187,123.00 |
|
Gains on sale of investments |
7,864.00 |
44,929.00 |
|
Foreign exchange gains |
0.00 |
83,428.00 |
|
Miscellaneous income |
236,781.00 |
229,449.00 |
|
Non-operating revenues and gains |
1,501,488.00 |
1,544,929.00 |
|
Non-Operating Expenses |
|
|
|
Interest expense |
168,058.00 |
165,644.00 |
|
Foreign exchange losses |
117,131.00 |
0.00 |
|
Miscellaneous disbursements |
11,574.00 |
12,839.00 |
|
Non-operating expenses and losses |
296,763.00 |
178,483.00 |
|
Income from continuing operations before income
tax |
1,526,748.00 |
1,471,267.00 |
|
Income tax expense (benefit) |
264,326.00 |
254,410.00 |
|
Income from continuing operations |
1,262,422.00 |
1,216,857.00 |
|
Net income (loss) |
1,262,422.00 (USD 42,922,348) |
1,216,857.00 (USD 41,373,138) |
|
Primary Earnings per Share |
|
|
|
Income (loss) from continuing operations |
1.27 |
1.23 |
|
Primary earnings per share |
1.27 |
1.23 |
|
Diluted earnings per share |
|
|
|
Cumulative effect of changes in accounting
principle |
1.27 |
1.23 |
|
Diluted earnings per share |
1.27 |
1.23 |
(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) |
1,262,422.00 |
1,216,857.00 |
|
Adjustments to Reconcile Net Income to Net Cash Provided
by (Used in) Operating Activities |
|
|
|
Depreciation Expense |
471,848.00 |
449,113.00 |
|
Amortization Expense |
38,058.00 |
43,143.00 |
|
Provision (Reversal of Provision) for Bad Debts
Losses |
8,410.00 |
-8,336.00 |
|
Loss (Gain) on Decline (Recovery) in Market
Value, Scrap and Obsolescence of Inventories |
-10,255.00 |
4,283.00 |
|
Investment Loss (Income) Recognized under Equity
Method |
-1,256,843.00 |
-1,187,123.00 |
|
Cash Dividends Received from Investments Accounted
for under Equity Method |
517,094.00 |
79,410.00 |
|
Loss (Gain) on Disposal of Property, Plant and
Equipment |
2,339.00 |
3,179.00 |
|
Loss (Gain) on Disposal of Investments |
-7,815.00 |
-44,929.00 |
|
Unrealized Revaluation Loss (Gain) on Financial
Assets and Liabilities |
-5,606.00 |
-5,475.00 |
|
Impairment Losses on Financial Asset |
0.00 |
0.00 |
|
Impairment Loss on Non-Financial Assets |
0.00 |
0.00 |
|
Other Adjustments to Reconcile Net Income |
0.00 |
0.00 |
|
Changes in Operating Assets and Liabilities |
|
|
|
Decrease (Increase) in Notes Receivable |
-69,906.00 |
48,056.00 |
|
Decrease (Increase) in Accounts Receivable |
367,804.00 |
-224,450.00 |
|
Decrease (Increase) in Accounts Receivable -
Related Parties |
70,661.00 |
138,314.00 |
|
Decrease (Increase) in Other Receivable- Related
Parties |
2,225.00 |
18,024.00 |
|
Decrease (Increase) in Inventories |
274,772.00 |
23,433.00 |
|
Decrease (Increase) in Other Current Assets |
33,353.00 |
83,041.00 |
|
Decrease (Increase) in Other Financial Assets |
4,019.00 |
-15,519.00 |
|
Decrease (Increase) in Deferred Tax Assets |
165,826.00 |
216,668.00 |
|
Increase (Decrease) in Notes Payable |
26,981.00 |
-5,747.00 |
|
Increase (Decrease) in Accounts Payable |
328,781.00 |
-434,872.00 |
|
Increase (Decrease) in Accounts Payable - Related
Parties |
0.00 |
0.00 |
|
Increase (Decrease) in Income Tax Payable |
66,991.00 |
-50,573.00 |
|
Increase (Decrease) in Accrued Expenses |
30,534.00 |
-29,204.00 |
|
Increase (Decrease) in Other Financial
Liabilities |
0.00 |
0.00 |
|
Increase (Decrease) in Other Current Liabilities |
-11,204.00 |
-1,075.00 |
|
Increase (Decrease) in Accrued Pension
Liabilities |
72,117.00 |
77,405.00 |
|
Net Cash Provided by (Used in) Operating
Activities |
2,382,606.00 |
393,623.00 |
|
Cash Flows from Investing Activities |
|
|
|
Proceeds from Disposal of Available-for-sale Financial
Assets |
0.00 |
8,941.00 |
|
Proceeds from Disposal of Financial Assets
Carried at Cost |
0.00 |
8,814.00 |
|
Capital Reduction of Financial Assets Carried at
Cost |
0.00 |
37,105.00 |
|
Proceeds from Disposal of Investments Accounted for
by Equity Method |
16,585.00 |
48,750.00 |
|
Acquisition of Subsidiaries |
-642,434.00 |
-78,448.00 |
|
Proceeds from Capital Reduction of Investments
Accounted for under Equity Method |
0.00 |
0.00 |
|
Purchase of Property, Plant and Equipment |
-491,026.00 |
-590,646.00 |
|
Proceeds from Disposal of Property, Plant and
Equipment |
1,896.00 |
2,573.00 |
|
Proceeds from Disposal of Rental Assets and Idle
Assets |
24,596.00 |
0.00 |
|
Purchase of Intangible Assets |
-1,650.00 |
-11,062.00 |
|
Decrease (Increase) in Other Financial Assets |
-1,052.00 |
-1,021.00 |
|
Net Cash Provided by (Used in) Investing
Activities |
-1,093,085.00 |
-574,994.00 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in Short-term Loans |
305,808.00 |
449,510.00 |
|
Increase (Decrease) in Short-term Notes and Bills
Payable |
-149,635.00 |
599,318.00 |
|
Increase (Decrease) in Long-term Liabilities |
800,000.00 |
-150,000.00 |
|
Increase (Decrease) in Other Liabilities |
1,609.00 |
257.00 |
|
Cash Dividends Paid |
-992,397.00 |
-1,417,710.00 |
|
Cash Bonus to Directors, Supervisors and
Employees |
0.00 |
0.00 |
|
Proceeds from Issuance of Shares |
0.00 |
0.00 |
|
Net Cash Provided by (Used in) Financing
Activities |
-34,615.00 |
-518,625.00 |
|
Net Increase (Decrease) in Cash and Cash
Equivalents |
1,254,906.00 |
-699,996.00 |
|
Cash and Cash Equivalents, Beginning of year |
214,011.00 |
914,007.00 |
|
Cash and Cash Equivalents, End of year |
1,468,917.00 |
214,011.00 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid |
182,258.00 |
166,019.00 |
|
Capitalized Interest |
-2,402.00 |
-2,562.00 |
|
Interest Paid- Excluding Capitalized Interest |
179,856.00 |
163,457.00 |
|
Income Tax Paid |
31,509.00 |
88,313.00 |
|
Investing Activities Affecting Both Cash and
Non-cash Items |
|
|
|
Acquisition of Subsidiaries |
2,554.00 |
78,448.00 |
|
Cash Paid for Acquisition of Property, Plant and
Equipment |
|
|
|
Increase in Property, Plant and Equipment |
458,637.00 |
579,701.00 |
|
Increase (Decrease) in Payable for Equipment
Purchased |
32,389.00 |
10,945.00 |
|
Cash Paid for Acquisition of Property, Plant and
Equipment |
491,026.00 |
590,646.00 |
|
Other Supplemental Information |
|
|
|
Total payment for acquiring the subsidiary (Based
on 100% ownership) |
2,554.00 |
78,448.00 |
|
Less: Cash balance of the Subsidiary (Based on
100% ownership) |
0.00 |
0.00 |
The bankers’ information is not available
from the subject or other sources.
Mortgage
No chattel mortgage record of subject has been found within
the recent 3 months.
Lawsuit
Up to date of reporting, no existing or latent litigation of the subject has been found.
|
Name |
Mr. Wang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.27 |
|
UK Pound |
1 |
Rs.84.23 |
|
Euro |
1 |
Rs.70.90 |
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.