|
Report Date : |
10.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
ARBOR TECHNOLOGY CORPORATION |
|
|
|
|
Registered Office : |
10F, No.700,Jhongjheng Rd., Zhonghe Dist., New Taipei City 235 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
29.09.1993 |
|
|
|
|
Com. Reg. No.: |
84469443 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and sale of electronic products, etc |
|
|
|
|
No. of Employees : |
About 220 Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 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 4.0%. 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: |
10F, No.700,Jhongjheng Rd., Zhonghe Dist.,
New Taipei City 235, Taiwan (R.O.C.) |
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-8226-9396 |
|
Fax Number: |
|
|
Email: |
Notes: The exact name and address are as above.
|
Credit Opinion: |
|
Registered Name: |
Arbor Technology Corporation |
|
Registered Address: |
10F, No.700,Jhongjheng Rd., Zhonghe Dist., New Taipei City 235, Taiwan
(R.O.C.) |
|
Date of Foundation: |
1993-9-29 |
|
Registration Number: |
84469443 |
|
Registry: |
New Taipei City Government |
|
Registered Capital: |
NTD 480,000,000 (USD
16,320,000) |
|
Paid-up Capital: |
NTD 457,800,190 (USD 15,565,206) |
|
Legal Representatives: |
Ming Li |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock
Exchange: |
|
|
Date of Last Annual
Return: |
Subject was incorporated on 1993-9-29 with registered
number 84469443 as Joint Stock Company in Taiwan.
Subject listed on Taiwan Over-The-Counter Securities Exchange on
2013-5-7.
|
Name |
Subscription Shares |
|
Ming Li |
1,727,340 |
|
Qirui Lian |
|
|
751,738 |
|
|
Zhongwei Lai |
249,989 |
|
Mega International Commercial Bank Co., Ltd. |
5,175,388 |
|
Fengling Guo |
841,637 |
|
Ruiyuan Lan |
740,928 |
The information above
is that of subject’s major shareholders.
Related Companies
|
Name |
Mega
International Commercial Bank Co., Ltd. |
|
Registered
Address: |
No.100, Jilin
Rd., Zhongshan Dist., Taipei City 10424, Taiwan (R.O.C.) |
|
Date of Foundation: |
1928-10-26 |
|
Registration
Number: |
03705903 |
|
Registry: |
Department of
Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered
Capital: |
NTD
71,000,000,000 (USD 2,414,000,000) (As of 2013.07,
1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD
71,000,000,000 (USD 2,414,000,000) |
|
Legal
Representatives: |
Youcai Cai |
|
Legal Form: |
Joint Stock
Company |
|
Date of Last
Annual Return: |
2013-1-2 |
Offices
|
1 |
|
|
Name: |
Beijing Office |
|
Address: |
Room 419, Beijing
Lixiang Building, No.111 Zhichun Road, Haidian District, Beijing, China |
|
Tel: |
+86-10-8266-5810 |
|
Fax: |
+86-10-8266-5810 |
|
2 |
|
|
Name: |
Shenzhen Office |
|
Address: |
A305, Phase I, High-Tech
Plaza, Tian'an Cyber Park, Futian District, Shenzhen, China |
|
Tel: |
+86-755-2986-8800 |
|
Fax: |
+86-755-2986-6299 |
|
3 |
|
|
Name: |
Singapore Office |
|
Address: |
60 Kaki Bukit
Place, #02-03 Suite 26, Eunos Techpark Singapore 415979 |
|
Tel: |
+65-6748-5880 |
|
4 |
|
|
Name: |
USA Office |
|
Address: |
2158 Paragon
Drive San Jose, CA 95131 |
|
Tel: |
+1-408-452-8900 |
|
Fax: |
+1-408-452-8909 |
|
5 |
|
|
Name: |
France office |
|
Address: |
73, Rue Louis
Rouquier 92300 Levallois-Perret France |
|
Tel: |
+33-1-5563-9087 |
|
Fax: |
+33-1-8150-0029 |
|
6 |
|
|
Name: |
Italy Office |
|
Address: |
C.So Orbassano,
336 10137 Torino |
|
Tel: |
+39-011-1970-0011 |
|
Fax: |
+39-011-1970-0015 |
|
7 |
|
|
Name: |
Holland Office |
|
Address: |
Stationsweg 416 NL-3925CG
Scherpenzeel The Netherlands |
|
Tel: |
+31-33-277-0889 |
|
Fax: |
+31-33-258-8971 |
|
8 |
|
|
Name: |
UK Office |
|
Address: |
Unit 32, Walker
Avenue, Wolverton Mill, Milton Keynes MK12 5TW, United Kingdom |
|
Tel: |
+44-1908-310100 |
|
Fax: |
+44-1908-310107 |
|
9 |
|
|
Name: |
Australia Office |
|
Address: |
44 Rocco Drv
Scoresby 3179 Victoria, Australia |
|
Tel: |
+61-3-8803-7100 |
|
Fax: |
+61-3-9763-7265 |
Core
Management
|
1 |
|
|
Name |
Ming Li |
|
Position |
Board Director |
|
2 |
|
|
Name |
Qirui Lian |
|
Position |
Director |
|
3 |
|
|
Name |
Zhongwei Lai |
|
Position |
Director |
|
4 |
|
|
Name |
Mega
International Commercial Bank Co., Ltd. |
|
Position |
Director |
|
5 |
|
|
Name |
Fengling Guo |
|
Position |
Director |
|
6 |
|
|
Name |
Chuangqian Qiu |
|
Position |
Independent
Director |
|
7 |
|
|
Name |
Huimin Lin |
|
Position |
Independent
Director |
|
8 |
|
|
Name |
Ruiyuan Lan |
|
Position |
Supervisor |
|
9 |
|
|
Name |
Junlong Zhang |
|
Position |
Supervisor |
|
10 |
|
|
Name |
Bingze Wu |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 220 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
10F, No.700,Jhongjheng Rd., Zhonghe Dist., New Taipei City 235, Taiwan
(R.O.C.) |
Production
Information
l
Subject is engaged in manufacturing of electronic products, etc.
l
Subject has factories in Taiwan and Shenzhen City,
China for production.
l
It is introduced that subject can provide OEM and
ODM services.
l
Subject obtained the certifications of ISO 9001 and
ISO 13485.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
CC01080 |
Manufacturing of electronic components |
|
CC01110 |
Manufacturing of computer and peripheral
equipment |
|
CC01990 |
Manufacturing of other dynamo and electrical
machinery |
|
CE01010 |
Manufacturing of general instrument |
|
E605010 |
Installation of computer |
|
EZ05010 |
Installation of instrument and meter |
|
F113010 |
Wholesale of machinery |
|
F113050 |
Wholesale of computer and office equipment |
|
F113070 |
Wholesale of telecom equipment |
|
F113990 |
Wholesale of other mechanical appliance |
|
F118010 |
Wholesale of software |
|
F119010 |
Wholesale of electronic materials |
|
F213030 |
Retail of computer and office equipment |
|
F213060 |
Retail of telecom equipment |
|
F213990 |
Retail of other mechanical appliance |
|
F218010 |
Retail of software |
|
F219010 |
Retail of electronic materials |
|
F401010 |
International trade business |
|
I301010 |
Software service |
|
I301020 |
Data processing service |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted |
|
F108031 |
Wholesale of medical equipment |
|
F208031 |
Retail of medical equipment |
|
CF01011 |
Manufacturing of medical equipment |
l
The components for production are purchased from
both home and abroad.
l
Subject is engaged in sale of electronic products, etc.
l
The major types of subject’s products include
embedded computing, rugged mobile computing, ehealth computing, rugged box PC,
and industrial panel PC, etc.
l
The products sold by subject are applied to medical
industry, warehouse logistics, and transportation industry, etc.
l
Subject’s sales regions include domestic market,
Japan, South Korea, Southeast Asia, Europe and USA, etc.
Major products
|
Type |
Product |
|
Embedded Computing |
Computer on Module Compact Board Slot Board Industrial Motherboard Wide Temperature Board Industrial Chassis / Backplane/ Power Supply Accessory |
|
Rugged Mobile Computing |
Rugged Tablet PC |
|
Ehealth Computing |
Expert Medical Station Patient Infotainment Terminal Nursing Care Thin Client Mobile Clinical Assistant Patient Monitoring Terminal |
|
Rugged Box PC |
Extended Temperature Box PC Wide Temperature Box PC Transportation Box PC Smart Grid Box PC Digital Signage Accessory |
|
Industrial Panel PC |
Touch Panel Computing |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Components |
Cash, T/T, etc |
100% |
Foreign Purchase
|
Terms |
Proportion |
|
|
Components |
L/C, T/T, etc |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Electronic products |
Cash, T/T, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Electronic products |
L/C, T/T, etc |
100% |
Unit: NTD/000
|
|
2012-12-31 |
2011-12-31 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
124,984.00 |
176,792.00 |
|
Financial assets measured at fair value through
profit or loss - current |
14.00 |
0.00 |
|
Notes receivable - net |
944.00 |
831.00 |
|
Accounts receivable - net |
118,772.00 |
133,901.00 |
|
Accounts receivable - related parties - net |
91,657.00 |
104,448.00 |
|
Other receivable - related parties |
103,682.00 |
25,708.00 |
|
Other financial assets - current |
2,742.00 |
5,380.00 |
|
Inventories |
152,006.00 |
124,639.00 |
|
Other current assets |
32,444.00 |
29,705.00 |
|
Current assets |
627,245.00 |
601,404.00 |
|
Funds and Investments |
|
|
|
Financial assets carried at cost - non current |
13,159.00 |
13,159.00 |
|
Long-term investment under equity method |
223,801.00 |
220,846.00 |
|
Investments |
223,801.00 |
220,846.00 |
|
Funds and investments |
236,960.00 |
234,005.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
68,201.00 |
68,201.00 |
|
Buildings and structures |
56,476.00 |
56,174.00 |
|
Machinery and equipment |
10,810.00 |
9,707.00 |
|
Office equipment |
3,511.00 |
3,649.00 |
|
Leasehold Improvements |
4,231.00 |
2,677.00 |
|
Other facilities |
48,525.00 |
44,549.00 |
|
Cost of Fix Assets |
191,754.00 |
184,957.00 |
|
Accumulated depreciation |
-43,350.00 |
-34,272.00 |
|
Construction in process and prepayment for
equipments |
2,734.00 |
2,957.00 |
|
Fixed assets |
151,138.00 |
153,642.00 |
|
Intangible Assets |
|
|
|
Deferred pension costs |
48.00 |
53.00 |
|
Intangible assets |
48.00 |
53.00 |
|
OtherAssets |
|
|
|
Refundable deposits |
2,134.00 |
2,359.00 |
|
Deferred expenses |
6,135.00 |
5,196.00 |
|
Other assets - other |
0.00 |
5,726.00 |
|
Other assets |
8,269.00 |
13,281.00 |
|
Assets |
1,023,660.00 |
1,002,385.00 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowings |
124,213.00 |
76,735.00 |
|
Financial liabilities measured at fair value
through profit or loss - current |
0.00 |
17.00 |
|
Notes payable |
8,207.00 |
11,254.00 |
|
Notes payable - related parties |
909.00 |
581.00 |
|
Accounts payable |
73,265.00 |
73,838.00 |
|
Accounts payable - related parties |
23,475.00 |
65,068.00 |
|
Income tax payable |
7,437.00 |
5,314.00 |
|
Accrued expenses |
52,594.00 |
55,543.00 |
|
Advance receipts |
42,069.00 |
57,509.00 |
|
Long-Term Liabilities -Current Portion |
25,095.00 |
18,831.00 |
|
Other current liabilities |
22,253.00 |
18,797.00 |
|
Current liabilities |
379,517.00 |
383,487.00 |
|
Long term Liabilities |
|
|
|
Long-term borrowings |
52,127.00 |
47,278.00 |
|
Long-term liabilities |
52,127.00 |
47,278.00 |
|
Reserves |
|
|
|
Other Liabilities |
|
|
|
Pension reserve / accrued pension liability |
2,457.00 |
2,147.00 |
|
Other liabilities - other |
24.00 |
24.00 |
|
Other liabilities |
2,481.00 |
2,171.00 |
|
Liabilities |
434,125.00 |
432,936.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
403,940.00 |
380,909.00 |
|
Capital Surplus |
|
|
|
Capital Surplus - share premium |
74,093.00 |
74,093.00 |
|
Capital Surplus - treasury stock
transactions |
795.00 |
800.00 |
|
Capital Surplus - long-term equity investments |
960.00 |
960.00 |
|
Capital Surplus |
75,848.00 |
75,853.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
33,328.00 |
27,173.00 |
|
Unappropriated retained earnings |
72,880.00 |
77,072.00 |
|
Retained earnings |
106,208.00 |
104,245.00 |
|
Stockholders' Equity and Other adjustment |
|
|
|
Cumulative translation adjustments |
7,934.00 |
15,082.00 |
|
Net loss not recognized as pension cost |
-896.00 |
-733.00 |
|
Treasury stock |
-3,499.00 |
-5,907.00 |
|
Stockholders' equity and other adjustment |
3,539.00 |
8,442.00 |
|
Stockholders - equity |
589,535.00 (USD 20,044,190.00) |
569,449.00 (USD 19,361,266.00) |
|
Number of treasury stock acquired by the company
and subsidiaries (unit: share) |
221,000.00 |
367,000.00 |
|
Equivalent Shares of Outstandings of Advance
Receipts for Common Stock (Unit: Share) |
0.00 |
0.00 |
(As of 2013.08, 1 NTD = 0.0340
USD)
Note: Subject's date of
last annual return ended on 2013-5-20 and at that time subject's paid up
capital was NTD 457,800,190 as we supplied which we obtained from local
registry.
The latest financial
statement which we can obtain was ended on 2012-12-31.
We speculated that
subject increased their capital in the last two quarters. But we cannot confirm
the information at present.
Unit: NTD/000
|
|
2012 |
2011 |
|
Sales |
1,018,105.00 (USD 34,615,570.00) |
974,737.00 (USD 33,141,058.00) |
|
Sales returns |
2,947.00 |
3,597.00 |
|
Sales discounts and allowances |
2,320.00 |
1,864.00 |
|
Sales |
1,012,838.00 |
969,276.00 |
|
Operating income |
1,012,838.00 |
969,276.00 |
|
Cost of sales |
702,564.00 |
693,774.00 |
|
Operating costs |
702,564.00 |
693,774.00 |
|
Gross profit (loss) from operations |
310,274.00 |
275,502.00 |
|
Unrealized gains on intercompany transactions |
21,829.00 |
13,082.00 |
|
Realized gains on intercompany transactions |
13,082.00 |
9,349.00 |
|
Selling expense |
63,439.00 |
63,067.00 |
|
General and administrative expenses |
49,713.00 |
44,376.00 |
|
Research and development expenses |
107,935.00 |
98,459.00 |
|
Operating expenses |
221,087.00 |
205,902.00 |
|
Operating income (loss) |
80,440.00 |
65,867.00 |
|
Non-Operating Income |
|
|
|
Interest income |
206.00 |
228.00 |
|
Income from investment |
0.00 |
342.00 |
|
Income from investments under the equity method |
0.00 |
342.00 |
|
Foreign exchange gains |
0.00 |
8,579.00 |
|
Miscellaneous income |
3,724.00 |
1,862.00 |
|
Non-operating revenues and gains |
3,930.00 |
11,011.00 |
|
Non-Operating Expenses |
|
|
|
Interest expense |
3,028.00 |
3,496.00 |
|
Losses from investments under the equity method |
19,476.00 |
0.00 |
|
Investment loss |
19,476.00 |
0.00 |
|
Foreign exchange losses |
7,999.00 |
0.00 |
|
Loss on Valuation of Financial Asset |
24.00 |
0.00 |
|
Loss on Valuation of Financial Liabilities |
0.00 |
3,837.00 |
|
Miscellaneous disbursements |
416.00 |
972.00 |
|
Non-operating expenses and losses |
30,943.00 |
8,305.00 |
|
Income from continuing operations before income
tax |
53,427.00 |
68,573.00 |
|
Income tax expense (benefit) |
13,561.00 |
7,019.00 |
|
Income from continuing operations |
39,866.00 |
61,554.00 |
|
Net income (loss) |
39,866.00 (USD 1,355,444.00) |
61,554.00 (USD 2,092,836.00) |
|
Primary Earnings per Share |
|
|
|
Primary earnings per share |
1.01 |
1.59 |
|
Diluted earnings per share |
|
|
|
Diluted earnings per share |
1.01 |
1.55 |
(As of 2013.08, 1 NTD = 0.0340
USD)
Unit: NTD/000
|
|
2012 |
2011 |
|
Cash Flows from Operating Activities - Indirect
Method |
|
|
|
Net Income (Loss) |
39,866.00 |
61,554.00 |
|
Adjustments to Reconcile Net Income to Net Cash Provided
by (Used in) Operating Activities |
|
|
|
Depreciation Expense |
11,018.00 |
9,715.00 |
|
Amortization Expense |
3,520.00 |
2,538.00 |
|
Provision (Reversal of Provision) for Bad Debts
Losses |
-161.00 |
-164.00 |
|
Share-Based Payment Awards |
0.00 |
800.00 |
|
Loss (Gain) on Decline (Recovery) in Market
Value, Scrap and Obsolescence of Inventories |
9,619.00 |
15,893.00 |
|
Investment Loss (Income) Recognized under Equity
Method |
19,476.00 |
-342.00 |
|
Loss (Gain) on Disposal of Property, Plant and Equipment |
410.00 |
972.00 |
|
Unrealized Revaluation Loss (Gain) on Financial
Assets and Liabilities |
24.00 |
3,837.00 |
|
Unrealized Gain (Loss) on Intercompany
Transactions |
21,829.00 |
13,082.00 |
|
Realized Loss (Gain) on Intercompany Transactions |
-13,082.00 |
-9,349.00 |
|
Other Adjustments |
0.00 |
0.00 |
|
Changes in Operating Assets and Liabilities |
|
|
|
Decrease (Increase) in Transaction Financial Assets |
-55.00 |
0.00 |
|
Decrease (Increase) in Notes Receivable |
-113.00 |
1,927.00 |
|
Decrease (Increase) in Accounts Receivable |
15,290.00 |
-76,632.00 |
|
Decrease (Increase) in Accounts Receivable -
Related Parties |
12,791.00 |
-34,112.00 |
|
Decrease (Increase) in Other Accounts Receivable
- Related Parties |
-77,974.00 |
-887.00 |
|
Decrease (Increase) in Inventories |
-36,986.00 |
-4,561.00 |
|
Decrease (Increase) in Other Current Assets |
-3,574.00 |
-2,503.00 |
|
Decrease (Increase) in Other Financial Assets |
239.00 |
-693.00 |
|
Decrease (Increase) in Deferred Income Taxes |
6,561.00 |
2,118.00 |
|
Increase (Decrease) in Transaction Financial
Liabilities |
0.00 |
-3,820.00 |
|
Increase (Decrease) in Notes Payable |
-3,047.00 |
3,937.00 |
|
Increase (Decrease) in Notes Payable - Related
Parties |
328.00 |
123.00 |
|
Increase (Decrease) in Accounts Payable |
-573.00 |
34,012.00 |
|
Increase (Decrease) in Accounts Payable - Related
Parties |
-41,593.00 |
33,670.00 |
|
Increase (Decrease) in Income Tax Payable |
2,123.00 |
-1,816.00 |
|
Increase (Decrease) in Accrued Expenses |
-2,949.00 |
7,093.00 |
|
Increase (Decrease) in Advance Receipts |
-15,440.00 |
48,175.00 |
|
Increase (Decrease) in Other Current Liability |
-5,291.00 |
4,490.00 |
|
Increase (Decrease) in Accrued Pension Liabilities |
152.00 |
79.00 |
|
Net Cash Provided by (Used in) Operating
Activities |
-57,592.00 |
109,136.00 |
|
Cash Flows from Investing Activities |
|
|
|
Acquisition of Financial Assets as Fair Value
through Profit or Loss |
0.00 |
0.00 |
|
Proceeds from Disposal of Financial Assets as
Fair Value through Profit or Loss |
0.00 |
0.00 |
|
Acquisition of Subsidiary |
-29,579.00 |
-2,910.00 |
|
Purchase of Property, Plant and Equipment |
-9,019.00 |
-14,520.00 |
|
Proceeds from Disposal of Property, Plant and
Equipment |
95.00 |
0.00 |
|
Decrease (Increase) in Refundable Deposits |
225.00 |
-746.00 |
|
Decrease (Increase) in Deferred Charges |
-4,459.00 |
-2,528.00 |
|
Decrease (Increase) in Restricted Assets |
2,399.00 |
2,404.00 |
|
Net Cash Provided by (Used in) Investing
Activities |
-40,338.00 |
-18,300.00 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in Short-term Loans |
47,478.00 |
-84,084.00 |
|
Increase (Decrease) in Short-Term Notes And Bills
Payable |
0.00 |
-20,000.00 |
|
Proceeds from Long-term Debt |
30,000.00 |
0.00 |
|
Repayment of Long-term Debt |
-18,887.00 |
-21,071.00 |
|
Increase (Decrease) in Guarantee Deposit Received |
0.00 |
0.00 |
|
Issued Cash Dividends |
-26,532.00 |
-25,638.00 |
|
Employee Stock Option |
11,660.00 |
0.00 |
|
Repurchase Cost of Treasury Stock |
-491.00 |
0.00 |
|
Employees Purchase Treasury Stock |
2,894.00 |
4,021.00 |
|
Net Cash Provided by (Used in) Financing Activities |
46,122.00 |
-146,772.00 |
|
Net Increase (Decrease) in Cash and Cash
Equivalents |
-51,808.00 |
-55,936.00 |
|
Cash and Cash Equivalents, Beginning of year |
176,792.00 |
232,728.00 |
|
Cash and Cash Equivalents, End of year |
124,984.00 |
176,792.00 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid |
2,964.00 |
3,573.00 |
|
Interest Paid- Excluding Capitalized Interest |
2,964.00 |
3,573.00 |
|
Income Tax Paid |
4,877.00 |
6,717.00 |
|
Non-cash Investing and Financing Activities |
|
|
|
Earning Transfer to Increase Capital |
11,371.00 |
10,987.00 |
|
Related Parties of Accounts Receivable Transfer
to Long-term Investment |
0.00 |
24,341.00 |
|
Long-Term Investments At Equity Transfer to
Financial Assets At Cost |
0.00 |
5,847.00 |
|
Other |
0.00 |
1,279.00 |
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
Up to date of
reporting, no existing or latent litigation of the subject has been found.
|
Name |
Ms. Xie |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.11 |
|
|
1 |
Rs.94.77 |
|
Euro |
1 |
Rs.81.54 |
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.