|
Report Date : |
28.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHUZ TUNG MACHINERY INDUSTRIAL CO LTD |
|
|
|
|
Registered Office : |
Central Science
Industrial Park, No.30, Houke South Road, Houli District, Taichung, 421 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
17.05.1983 |
|
|
|
|
Legal Form : |
Public
Independent Company |
|
|
|
|
Line of Business : |
manufacturer and distributor of electronic equipment
and components Subject is also
involved in production and sale of special purpose bicycle equipment and
components, as well as hydraulic pressure pipes and molds |
|
|
|
|
No. of Employees : |
715 |
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 |
Shuz Tung Machinery Industrial Co Ltd
Central Science
Industrial Park
No.30, Houke
South Road, Houli District
Taichung, 421
Taiwan
Tel: 886-4-25561000
Fax: 886-4-25561889
Web: www.shuztung.com
Operating Address
No. 1325, Sec.1, Chung Shan Road,
Tachia Town, Taichung hsien,
Taiwan ROC, Taiwan
Tel. No.: 886-4-26831886
Employees: 715
Company Type: Public
Independent
Traded: Gre Tai Security
Market: 4537
Incorporation
Date: 17-May-1983
Auditor: KPMG
LLP
Financials in: usd (Millions)
Fiscal Year End: 31-Dec-2012
Reporting
Currency: Taiwanese New Dollar
Annual Sales: 48.1 1
Net Income: (1.3)
Total Assets: 81.9 2
Market Value: 35.8
(08-Aug-2013)
SHUZ TUNG
MACHINERY INDUSTRIAL CO., LTD is principally engaged in the manufacturing and
distribution of electronic equipment and components. The Company is also
involved in the production and sale of special purpose bicycle equipment and
components, as well as hydraulic pressure pipes and molds. The Company's
products mainly include thin film transistor liquid crystal display (TFT-LCD)
equipment and touch panels, semiconductor packaging equipment, laser incision
and automated optical inspection equipment, as well as other electronic
components. The Company distributes its products in domestic and overseas
markets. For the fiscal year ended 31 December 2012, Shuz Tung Machinery
Industrial Co Ltd revenues decreased 12% to NT$1.42B. Net loss totaled NT$39.8M
vs. income of NT$152.2M. Revenues reflect Special Equipment Segment decrease of
18% to NT$526.6M, Electric Equipment Segment decrease of 9% to NT$840.5M, Asia
segment decrease of 13% to NT$1.29B, Europe segment decrease of 27% to
NT$62.3M.
Industry
Industry Semiconductor and
Other Electronic Component Manufacturing
ANZSIC 2006:
2429 - Other Electronic Equipment Manufacturing
ISIC Rev 4:
2610 - Manufacture of electronic components and boards
NACE Rev 2:
2611 - Manufacture of electronic components
NAICS 2012:
334419 - Other Electronic Component Manufacturing
UK SIC 2007:
2611 - Manufacture of electronic components
US SIC 1987:
3679 - Electronic Components, Not Elsewhere Classified
|
|
|
1- Profit &
Loss Item Exchange Rate: USD 1 = TWD 29.57962
2 - Balance Sheet
Item Exchange Rate: USD 1 = TWD 29.012
Location
Central Science
Industrial Park
No.30, Houke
South Road, Houli District
Taichung, 421
Taiwan
Tel: 886-4-25561000
Fax: 886-4-25561889
Web: www.shuztung.com
Quote Symbol -
Exchange
4537 - Gre Tai Security Market
Sales TWD(mil): 1,422.3
Assets TWD(mil): 2,375.5
Employees: 715
Fiscal Year End: 31-Dec-2012
Industry: Electronic
Instruments and Controls
Incorporation Date: 17-May-1983
Company Type: Public
Independent
Quoted Status: Quoted
Chairman of the
Board: Tiancai Zhuang
Industry Codes
ANZSIC 2006
Codes:
2429 - Other
Electronic Equipment Manufacturing
2399 - Other
Transport Equipment Manufacturing Not Elsewhere Classified
2499 - Other
Machinery and Equipment Manufacturing Not Elsewhere Classified
2469 - Other
Specialised Machinery and Equipment Manufacturing
2299 - Other
Fabricated Metal Product Manufacturing Not Elsewhere Classified
ISIC Rev 4 Codes:
2610 - Manufacture of electronic components
and boards
2819 - Manufacture of other general-purpose
machinery
309 - Manufacture of transport equipment
n.e.c.
2599 - Manufacture of other fabricated metal
products n.e.c.
NACE Rev 2 Codes:
2611 - Manufacture of electronic components
2599 - Manufacture of other fabricated metal
products n.e.c.
2829 - Manufacture of other general-purpose
machinery n.e.c.
309 - Manufacture of transport equipment
n.e.c.
NAICS 2012 Codes:
334419 - Other Electronic Component
Manufacturing
334413 - Semiconductor and Related Device
Manufacturing
333249 - Other Industrial Machinery
Manufacturing
336991 - Motorcycle, Bicycle, and Parts
Manufacturing
332999 - All Other Miscellaneous Fabricated
Metal Product Manufacturing
333999 - All Other Miscellaneous General
Purpose Machinery Manufacturing
US SIC 1987:
3679 - Electronic Components, Not Elsewhere
Classified
3499 - Fabricated Metal Products, Not
Elsewhere Classified
3674 - Semiconductors and Related Devices
3751 - Motorcycles, Bicycles, and Parts
3569 - General Industrial Machinery and
Equipment, Not Elsewhere Classified
3559 - Special Industry Machinery, Not
Elsewhere Classified
UK SIC 2007:
2611 - Manufacture of electronic components
2599 - Manufacture of other fabricated metal
products n.e.c.
2829 - Manufacture of other general-purpose
machinery n.e.c.
309 - Manufacture of transport equipment
n.e.c.
Business Description
SHUZ TUNG MACHINERY INDUSTRIAL CO., LTD is
principally engaged in the manufacturing and distribution of electronic
equipment and components. The Company is also involved in the production and
sale of special purpose bicycle equipment and components, as well as hydraulic
pressure pipes and molds. The Company's products mainly include thin film
transistor liquid crystal display (TFT-LCD) equipment and touch panels,
semiconductor packaging equipment, laser incision and automated optical
inspection equipment, as well as other electronic components. The Company
distributes its products in domestic and overseas markets. For the fiscal year
ended 31 December 2012, Shuz Tung Machinery Industrial Co Ltd revenues
decreased 12% to NT$1.42B. Net loss totaled NT$39.8M vs. income of NT$152.2M.
Revenues reflect Special Equipment Segment decrease of 18% to NT$526.6M,
Electric Equipment Segment decrease of 9% to NT$840.5M, Asia segment decrease
of 13% to NT$1.29B, Europe segment decrease of 27% to NT$62.3M.
More Business Descriptions
Industrial
Machinery and Equipment Merchant Wholesalers
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Board of
Directors |
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Chairman of the Board |
Chairman |
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Independent Director |
Director/Board Member |
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General Manager-Electrical Equipment, Director |
Director/Board Member |
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Director |
Director/Board Member |
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Independent Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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General Manager-Special Equipment, Director |
Director/Board Member |
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Executives |
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Engineering Deputy General Manager-Electrical Equipment |
Division Head Executive |
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General Manager-Electrical Equipment, Director |
Division Head Executive |
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Deputy General Manager-Electrical Equipment |
Division Head Executive |
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General Manager-Special Equipment, Director |
Division Head Executive |
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Finance Manager |
Finance Executive |
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Special Assistant to Chairman of the Board |
Investor Relations Executive |
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Shuz Tung Machinery Industrial Co Ltd Announces No Dividend Payment for FY 2012
Apr 17, 2013
Shuz Tung Machinery Industrial Co Ltd announced that it will pay no dividend to
shareholders for fiscal year 2012.
|
|
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
|
|
|
|
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate
(Period Average) |
29.57962 |
29.39004 |
31.497037 |
33.023867 |
|
Auditor |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
Gross Revenue |
48.3 |
55.0 |
39.6 |
16.0 |
|
Sales Returns and Allowances |
-0.2 |
-0.2 |
-0.4 |
-0.4 |
|
Revenue |
48.1 |
54.8 |
39.2 |
15.6 |
|
Total Revenue |
48.1 |
54.8 |
39.2 |
15.6 |
|
|
|
|
|
|
|
Cost of Revenue |
34.2 |
36.6 |
26.1 |
11.1 |
|
Cost of Revenue, Total |
34.2 |
36.6 |
26.1 |
11.1 |
|
Gross Profit |
13.9 |
18.2 |
13.2 |
4.5 |
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
8.7 |
7.6 |
6.5 |
2.3 |
|
Total Selling/General/Administrative Expenses |
8.7 |
7.6 |
6.5 |
2.3 |
|
Research & Development |
5.2 |
4.6 |
4.2 |
3.3 |
|
Impairment-Assets Held for Use |
0.2 |
- |
- |
- |
|
Unusual Expense (Income) |
0.2 |
- |
- |
- |
|
Total Operating Expense |
48.3 |
48.9 |
36.8 |
16.7 |
|
|
|
|
|
|
|
Operating Income |
-0.2 |
6.0 |
2.4 |
-1.1 |
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Interest Expense, Net Non-Operating |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Interest Income -
Non-Operating |
0.0 |
0.0 |
0.0 |
0.0 |
|
Investment Income -
Non-Operating |
-0.6 |
-0.2 |
-0.5 |
-0.2 |
|
Interest/Investment Income - Non-Operating |
-0.6 |
-0.2 |
-0.5 |
-0.2 |
|
Interest Income (Expense) - Net Non-Operating Total |
-0.7 |
-0.3 |
-0.7 |
-0.3 |
|
Gain (Loss) on Sale of Assets |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Non-Operating Income (Expense) |
0.5 |
0.3 |
1.9 |
0.7 |
|
Other, Net |
0.5 |
0.3 |
1.9 |
0.7 |
|
Income Before Tax |
-0.6 |
6.0 |
3.6 |
-0.6 |
|
|
|
|
|
|
|
Total Income Tax |
0.8 |
0.8 |
0.3 |
-0.5 |
|
Income After Tax |
-1.3 |
5.2 |
3.4 |
-0.2 |
|
|
|
|
|
|
|
Minority Interest |
- |
- |
-0.1 |
- |
|
Net Income Before Extraord Items |
-1.3 |
5.2 |
3.3 |
-0.2 |
|
Net Income |
-1.3 |
5.2 |
3.3 |
-0.2 |
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
-1.3 |
5.2 |
3.3 |
-0.2 |
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
-1.3 |
5.2 |
3.3 |
-0.2 |
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
72.0 |
72.0 |
72.0 |
72.0 |
|
Basic EPS Excl Extraord Items |
-0.02 |
0.07 |
0.05 |
0.00 |
|
Basic/Primary EPS Incl Extraord Items |
-0.02 |
0.07 |
0.05 |
0.00 |
|
Dilution Adjustment |
0.0 |
- |
0.0 |
0.0 |
|
Diluted Net Income |
-1.3 |
5.2 |
3.3 |
-0.2 |
|
Diluted Weighted Average Shares |
72.0 |
72.0 |
72.0 |
72.0 |
|
Diluted EPS Excl Extraord Items |
-0.02 |
0.07 |
0.05 |
0.00 |
|
Diluted EPS Incl Extraord Items |
-0.02 |
0.07 |
0.05 |
0.00 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.01 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.4 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
0.1 |
0.1 |
0.1 |
0.1 |
|
Interest Capitalized, Supplemental |
-0.1 |
0.0 |
- |
- |
|
Depreciation, Supplemental |
0.9 |
0.6 |
0.6 |
0.3 |
|
Total Special Items |
0.3 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Tax |
-0.3 |
6.0 |
3.6 |
-0.6 |
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.1 |
0.0 |
0.0 |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
0.9 |
0.8 |
0.3 |
-0.5 |
|
Normalized Income After Tax |
-1.2 |
5.2 |
3.4 |
-0.2 |
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-1.2 |
5.2 |
3.3 |
-0.2 |
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.02 |
0.07 |
0.05 |
0.00 |
|
Diluted Normalized EPS |
-0.02 |
0.07 |
0.05 |
0.00 |
|
Amort of Intangibles, Supplemental |
0.2 |
0.2 |
0.2 |
- |
|
Research & Development Exp, Supplemental |
5.2 |
4.6 |
4.2 |
3.3 |
|
Normalized EBIT |
0.0 |
6.0 |
2.4 |
-1.1 |
|
Normalized EBITDA |
1.2 |
6.7 |
3.2 |
-0.8 |
|
Current Tax - Total |
0.2 |
0.5 |
0.2 |
0.1 |
|
Current Tax - Total |
0.2 |
0.5 |
0.2 |
0.1 |
|
Deferred Tax - Total |
0.6 |
0.3 |
0.0 |
-0.5 |
|
Deferred Tax - Total |
0.6 |
0.3 |
0.0 |
-0.5 |
|
Income Tax - Total |
0.8 |
0.8 |
0.3 |
-0.5 |
|
Interest Cost - Domestic |
0.1 |
0.1 |
- |
- |
|
Expected Return on Assets - Domestic |
0.0 |
0.0 |
- |
- |
|
Transition Costs - Domestic |
0.1 |
0.1 |
- |
- |
|
Other Pension, Net - Domestic |
- |
- |
0.1 |
0.0 |
|
Domestic Pension Plan Expense |
0.2 |
0.2 |
0.1 |
0.0 |
|
Defined Contribution Expense - Domestic |
0.3 |
0.3 |
0.2 |
0.1 |
|
Total Pension Expense |
0.5 |
0.5 |
0.3 |
0.2 |
|
Discount Rate - Domestic |
1.75% |
2.00% |
1.75% |
- |
|
Expected Rate of Return - Domestic |
1.75% |
2.00% |
1.75% |
- |
|
Compensation Rate - Domestic |
3.00% |
5.00% |
5.00% |
- |
|
Total Plan Interest Cost |
0.1 |
0.1 |
- |
- |
|
Total Plan Expected Return |
0.0 |
0.0 |
- |
- |
|
Total Plan Other Expense |
- |
- |
0.1 |
0.0 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate |
29.011999 |
30.279 |
29.1565 |
31.985 |
|
Auditor |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
Cash & Equivalents |
11.4 |
13.4 |
9.5 |
5.5 |
|
Short Term Investments |
0.1 |
0.5 |
0.3 |
0.1 |
|
Cash and Short Term Investments |
11.5 |
14.0 |
9.8 |
5.6 |
|
Accounts Receivable -
Trade, Gross |
24.0 |
19.6 |
14.5 |
2.4 |
|
Provision for Doubtful
Accounts |
-2.8 |
-2.5 |
-2.6 |
-0.4 |
|
Trade Accounts Receivable - Net |
21.2 |
17.1 |
11.8 |
4.6 |
|
Notes Receivable - Short Term |
1.1 |
0.6 |
0.2 |
0.2 |
|
Other Receivables |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Receivables, Net |
22.3 |
17.7 |
12.1 |
4.8 |
|
Inventories - Finished Goods |
4.4 |
3.0 |
4.0 |
1.5 |
|
Inventories - Work In Progress |
18.4 |
20.3 |
13.4 |
7.1 |
|
Inventories - Raw Materials |
2.1 |
2.8 |
2.1 |
0.9 |
|
Total Inventory |
24.9 |
26.2 |
19.5 |
9.5 |
|
Prepaid Expenses |
2.1 |
2.5 |
2.4 |
0.3 |
|
Restricted Cash - Current |
0.5 |
0.0 |
5.7 |
0.8 |
|
Deferred Income Tax - Current Asset |
0.7 |
0.9 |
0.9 |
0.7 |
|
Other Current Assets, Total |
1.2 |
0.9 |
6.6 |
1.5 |
|
Total Current Assets |
62.1 |
61.3 |
50.4 |
21.7 |
|
|
|
|
|
|
|
Buildings |
13.2 |
4.8 |
4.8 |
2.5 |
|
Machinery/Equipment |
11.7 |
7.5 |
6.9 |
2.6 |
|
Construction in
Progress |
0.0 |
3.0 |
0.1 |
0.0 |
|
Leases |
0.8 |
0.8 |
- |
- |
|
Property/Plant/Equipment - Gross |
25.8 |
16.0 |
11.8 |
5.1 |
|
Accumulated Depreciation |
-8.0 |
-7.0 |
-6.5 |
-1.9 |
|
Property/Plant/Equipment - Net |
17.8 |
9.0 |
5.3 |
3.2 |
|
Goodwill, Net |
0.0 |
0.2 |
0.2 |
- |
|
Intangibles, Net |
0.7 |
0.8 |
0.6 |
- |
|
LT Investment - Affiliate Companies |
- |
- |
- |
4.4 |
|
Long Term Investments |
- |
- |
- |
4.4 |
|
Deferred Charges |
0.1 |
0.0 |
0.0 |
0.0 |
|
Pension Benefits - Overfunded |
0.7 |
0.7 |
0.9 |
0.0 |
|
Deferred Income Tax - Long Term Asset |
0.1 |
0.3 |
0.8 |
0.8 |
|
Other Long Term Assets |
0.6 |
0.2 |
0.0 |
0.0 |
|
Other Long Term Assets, Total |
1.4 |
1.2 |
1.7 |
0.8 |
|
Total Assets |
81.9 |
72.6 |
58.3 |
30.1 |
|
|
|
|
|
|
|
Accounts Payable |
8.9 |
9.3 |
8.7 |
3.6 |
|
Accrued Expenses |
3.5 |
4.8 |
3.8 |
1.3 |
|
Notes Payable/Short Term Debt |
16.2 |
8.5 |
9.7 |
6.0 |
|
Current Portion - Long Term Debt/Capital Leases |
1.4 |
0.1 |
0.3 |
0.3 |
|
Customer Advances |
10.7 |
14.5 |
10.0 |
3.2 |
|
Other Payables |
0.0 |
0.6 |
0.0 |
0.1 |
|
Other Current liabilities, Total |
10.7 |
15.1 |
10.0 |
3.3 |
|
Total Current Liabilities |
40.8 |
37.7 |
32.6 |
14.5 |
|
|
|
|
|
|
|
Long Term Debt |
7.2 |
0.6 |
0.8 |
1.0 |
|
Total Long Term Debt |
7.2 |
0.6 |
0.8 |
1.0 |
|
Total Debt |
24.9 |
9.2 |
10.8 |
7.3 |
|
|
|
|
|
|
|
Minority Interest |
- |
- |
0.2 |
- |
|
Pension Benefits - Underfunded |
0.9 |
0.8 |
0.9 |
0.0 |
|
Other Liabilities, Total |
0.9 |
0.8 |
0.9 |
0.0 |
|
Total Liabilities |
48.9 |
39.2 |
34.4 |
15.4 |
|
|
|
|
|
|
|
Common Stock |
24.8 |
19.8 |
14.5 |
10.4 |
|
Common Stock |
24.8 |
19.8 |
14.5 |
10.4 |
|
Additional Paid-In Capital |
6.7 |
6.2 |
2.9 |
1.3 |
|
Retained Earnings (Accumulated Deficit) |
1.8 |
7.4 |
6.8 |
3.0 |
|
Translation Adjustment |
-0.3 |
0.0 |
-0.3 |
0.0 |
|
Other Equity, Total |
-0.3 |
0.0 |
-0.3 |
0.0 |
|
Total Equity |
33.0 |
33.4 |
23.9 |
14.6 |
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
81.9 |
72.6 |
58.3 |
30.1 |
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
72.0 |
72.0 |
72.0 |
72.0 |
|
Total Common Shares Outstanding |
720.0 |
720.0 |
720.0 |
720.0 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
0.0 |
|
Employees |
715 |
695 |
668 |
247 |
|
Accumulated Intangible Amort, Suppl. |
0.7 |
0.5 |
0.4 |
- |
|
Deferred Revenue - Current |
10.7 |
14.5 |
10.0 |
3.2 |
|
Total Long Term Debt, Supplemental |
8.7 |
0.7 |
- |
- |
|
Long Term Debt Maturing within 1 Year |
1.4 |
0.1 |
- |
- |
|
Long Term Debt Maturing in Year 2 |
1.5 |
0.1 |
- |
- |
|
Long Term Debt Maturing in Year 3 |
1.5 |
0.1 |
- |
- |
|
Long Term Debt Maturing in Year 4 |
1.5 |
0.1 |
- |
- |
|
Long Term Debt Maturing in Year 5 |
1.3 |
0.1 |
- |
- |
|
Long Term Debt Maturing in 2-3 Years |
2.9 |
0.3 |
- |
- |
|
Long Term Debt Maturing in 4-5 Years |
2.7 |
0.3 |
- |
- |
|
Long Term Debt Matur. in Year 6 & Beyond |
1.5 |
0.0 |
- |
- |
|
Total Operating Leases, Supplemental |
0.8 |
0.8 |
- |
- |
|
Operating Lease Payments Due in Year 1 |
0.2 |
0.2 |
- |
- |
|
Operating Lease Payments Due in Year 2 |
0.2 |
0.2 |
- |
- |
|
Operating Lease Payments Due in Year 3 |
0.1 |
0.1 |
- |
- |
|
Operating Lease Payments Due in Year 4 |
0.1 |
0.1 |
- |
- |
|
Operating Lease Payments Due in Year 5 |
0.1 |
0.1 |
- |
- |
|
Operating Lease Pymts. Due in 2-3 Years |
0.3 |
0.3 |
- |
- |
|
Operating Lease Pymts. Due in 4-5 Years |
0.2 |
0.3 |
- |
- |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
0.0 |
0.0 |
- |
- |
|
Pension Obligation - Domestic |
2.5 |
3.4 |
3.6 |
- |
|
Plan Assets - Domestic |
0.7 |
0.6 |
0.6 |
- |
|
Funded Status - Domestic |
-1.8 |
-2.8 |
-3.0 |
- |
|
Accumulated Obligation - Domestic |
1.6 |
1.5 |
1.5 |
- |
|
Total Funded Status |
-1.8 |
-2.8 |
-3.0 |
- |
|
Discount Rate - Domestic |
1.75% |
2.00% |
1.75% |
- |
|
Expected Rate of Return - Domestic |
1.75% |
2.00% |
1.75% |
- |
|
Compensation Rate - Domestic |
3.00% |
5.00% |
5.00% |
- |
|
Prepaid Benefits - Domestic |
0.7 |
0.7 |
0.9 |
- |
|
Accrued Liabilities - Domestic |
-0.9 |
-0.8 |
-0.9 |
- |
|
Net Assets Recognized on Balance Sheet |
-0.2 |
-0.1 |
0.0 |
- |
|
Total Plan Obligations |
2.5 |
3.4 |
3.6 |
- |
|
Total Plan Assets |
0.7 |
0.6 |
0.6 |
- |
|
|
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate
(Period Average) |
29.57962 |
29.39004 |
31.497037 |
33.023867 |
|
Auditor |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
Net Income/Starting Line |
-1.3 |
5.2 |
3.4 |
-0.2 |
|
Depreciation |
0.9 |
0.6 |
0.6 |
0.3 |
|
Depreciation/Depletion |
0.9 |
0.6 |
0.6 |
0.3 |
|
Amortization of Intangibles |
0.2 |
0.2 |
0.2 |
- |
|
Amortization |
0.2 |
0.2 |
0.2 |
- |
|
Deferred Taxes |
0.6 |
0.3 |
0.0 |
-0.5 |
|
Unusual Items |
0.3 |
0.0 |
0.0 |
0.0 |
|
Other Non-Cash Items |
2.1 |
0.7 |
-0.1 |
1.1 |
|
Non-Cash Items |
2.4 |
0.7 |
-0.1 |
1.1 |
|
Accounts Receivable |
-5.4 |
-6.2 |
-1.4 |
2.5 |
|
Inventories |
1.8 |
-8.3 |
-5.3 |
2.0 |
|
Prepaid Expenses |
0.8 |
-0.1 |
-1.7 |
-0.1 |
|
Other Assets |
0.0 |
-0.6 |
0.0 |
-0.1 |
|
Accounts Payable |
-1.1 |
0.6 |
2.4 |
0.0 |
|
Accrued Expenses |
-0.4 |
-0.2 |
1.2 |
0.1 |
|
Taxes Payable |
-0.5 |
0.4 |
0.1 |
-0.1 |
|
Other Liabilities |
-4.4 |
6.3 |
3.7 |
-2.5 |
|
Changes in Working Capital |
-9.1 |
-8.1 |
-1.0 |
1.9 |
|
Cash from Operating Activities |
-6.4 |
-1.1 |
3.0 |
2.5 |
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-9.7 |
-3.7 |
-0.2 |
-0.1 |
|
Purchase/Acquisition of Intangibles |
0.0 |
-0.3 |
-0.1 |
0.0 |
|
Capital Expenditures |
-9.8 |
-4.0 |
-0.3 |
-0.1 |
|
Sale of Fixed Assets |
0.1 |
0.0 |
0.0 |
- |
|
Sale/Maturity of Investment |
- |
- |
0.0 |
- |
|
Purchase of Investments |
- |
- |
0.0 |
-4.2 |
|
Other Investing Cash Flow |
-1.0 |
5.5 |
-4.6 |
0.1 |
|
Other Investing Cash Flow Items, Total |
-1.0 |
5.5 |
-4.6 |
-4.2 |
|
Cash from Investing Activities |
-10.8 |
1.5 |
-4.9 |
-4.3 |
|
|
|
|
|
|
|
Other Financing Cash Flow |
0.0 |
-0.2 |
-4.1 |
-0.5 |
|
Financing Cash Flow Items |
0.0 |
-0.2 |
-4.1 |
-0.5 |
|
Cash Dividends Paid - Common |
-0.4 |
0.0 |
- |
0.0 |
|
Total Cash Dividends Paid |
-0.4 |
0.0 |
- |
0.0 |
|
Sale/Issuance of
Common |
0.0 |
5.2 |
4.3 |
5.1 |
|
Common Stock, Net |
0.0 |
5.2 |
4.3 |
5.1 |
|
Issuance (Retirement) of Stock, Net |
0.0 |
5.2 |
4.3 |
5.1 |
|
Short Term Debt Issued |
7.2 |
- |
2.9 |
0.0 |
|
Short Term Debt
Reduction |
- |
-0.9 |
- |
- |
|
Short Term Debt, Net |
7.2 |
-0.9 |
2.9 |
0.0 |
|
Long Term Debt Issued |
7.9 |
- |
- |
0.3 |
|
Long Term Debt
Reduction |
-0.2 |
-0.3 |
-0.3 |
-0.5 |
|
Long Term Debt, Net |
7.7 |
-0.3 |
-0.3 |
-0.2 |
|
Issuance (Retirement) of Debt, Net |
14.9 |
-1.2 |
2.6 |
-0.2 |
|
Cash from Financing Activities |
14.5 |
3.9 |
2.7 |
4.4 |
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
0.0 |
-0.3 |
- |
|
Net Change in Cash |
-2.6 |
4.4 |
0.5 |
2.6 |
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
13.7 |
9.5 |
8.3 |
2.7 |
|
Net Cash - Ending Balance |
11.1 |
13.8 |
8.8 |
5.3 |
|
Cash Interest Paid |
0.1 |
0.2 |
0.1 |
0.1 |
|
Cash Taxes Paid |
0.4 |
0.3 |
0.1 |
0.2 |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
|
|
|
|
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate
(Period Average) |
29.57962 |
29.39004 |
31.497037 |
33.023867 |
|
Auditor |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
Gross Sales |
48.3 |
55.0 |
39.6 |
16.0 |
|
Sales Returns |
-0.1 |
-0.1 |
-0.1 |
-0.3 |
|
Sales Discounts and Allowances |
0.0 |
-0.1 |
-0.3 |
-0.1 |
|
Total Revenue |
48.1 |
54.8 |
39.2 |
15.6 |
|
|
|
|
|
|
|
Cost of Sales |
34.2 |
36.6 |
26.1 |
11.1 |
|
Selling Expense |
3.5 |
3.9 |
3.0 |
1.4 |
|
General and Administrative Expenses |
5.2 |
3.7 |
3.5 |
1.0 |
|
Research and Development Expenses |
5.2 |
4.6 |
4.2 |
3.3 |
|
Impairment Loss |
0.2 |
- |
- |
- |
|
Total Operating Expense |
48.3 |
48.9 |
36.8 |
16.7 |
|
|
|
|
|
|
|
Interest Income |
0.0 |
0.0 |
0.0 |
0.0 |
|
Rent Income |
0.1 |
0.1 |
0.1 |
0.0 |
|
Miscellaneous Income |
0.2 |
0.2 |
1.2 |
0.2 |
|
Government Subsidy Income |
0.1 |
0.1 |
0.6 |
0.5 |
|
Gains on Disposal of Fixed Assets |
0.0 |
0.0 |
- |
- |
|
Interest Expense |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Revaluation Loss on Financial Products |
-0.1 |
-0.2 |
0.0 |
- |
|
Loss on Disposal of Fixed Assets |
0.0 |
0.0 |
0.0 |
0.0 |
|
Foreign Exchange Losses |
-0.6 |
0.0 |
-0.5 |
-0.2 |
|
Net Income Before Taxes |
-0.6 |
6.0 |
3.6 |
-0.6 |
|
|
|
|
|
|
|
Provision for Income Taxes |
0.8 |
0.8 |
0.3 |
-0.5 |
|
Net Income After Taxes |
-1.3 |
5.2 |
3.4 |
-0.2 |
|
|
|
|
|
|
|
Minority Interest |
- |
- |
-0.1 |
- |
|
Net Income Before Extra. Items |
-1.3 |
5.2 |
3.3 |
-0.2 |
|
Net Income |
-1.3 |
5.2 |
3.3 |
-0.2 |
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
-1.3 |
5.2 |
3.3 |
-0.2 |
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
-1.3 |
5.2 |
3.3 |
-0.2 |
|
|
|
|
|
|
|
Basic Weighted Average Shares |
72.0 |
72.0 |
72.0 |
72.0 |
|
Basic EPS Excluding ExtraOrdinary Items |
-0.02 |
0.07 |
0.05 |
0.00 |
|
Basic EPS Including ExtraOrdinary Items |
-0.02 |
0.07 |
0.05 |
0.00 |
|
Dilution Adjustment |
0.0 |
- |
0.0 |
0.0 |
|
Diluted Net Income |
-1.3 |
5.2 |
3.3 |
-0.2 |
|
Diluted Weighted Average Shares |
72.0 |
72.0 |
72.0 |
72.0 |
|
Diluted EPS Excluding ExtraOrd Items |
-0.02 |
0.07 |
0.05 |
0.00 |
|
Diluted EPS Including ExtraOrd Items |
-0.02 |
0.07 |
0.05 |
0.00 |
|
DPS-Common Sotck |
0.00 |
0.01 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.4 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
-0.3 |
6.0 |
3.6 |
-0.6 |
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
0.9 |
0.8 |
0.3 |
-0.5 |
|
Normalized Income After Taxes |
-1.2 |
5.2 |
3.4 |
-0.2 |
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-1.2 |
5.2 |
3.3 |
-0.2 |
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.02 |
0.07 |
0.05 |
0.00 |
|
Diluted Normalized EPS |
-0.02 |
0.07 |
0.05 |
0.00 |
|
Interest Expenses |
0.1 |
0.1 |
0.1 |
0.1 |
|
Interest Capitalized, Supplemental |
-0.1 |
0.0 |
- |
- |
|
Research and Development |
5.2 |
4.6 |
4.2 |
3.3 |
|
Depreciation - Operating Cost |
0.5 |
0.4 |
0.2 |
0.2 |
|
Depreciation - Operating Expense |
0.4 |
0.2 |
0.4 |
0.1 |
|
Amortization - Operating Cost |
0.0 |
0.0 |
0.0 |
- |
|
Amortization - Operating Expense |
0.2 |
0.1 |
0.2 |
- |
|
Current Tax Payable |
0.2 |
0.5 |
0.2 |
0.1 |
|
Current Tax - Total |
0.2 |
0.5 |
0.2 |
0.1 |
|
Deferred Tax |
0.6 |
0.3 |
0.0 |
-0.5 |
|
Deferred Tax - Total |
0.6 |
0.3 |
0.0 |
-0.5 |
|
Income Tax - Total |
0.8 |
0.8 |
0.3 |
-0.5 |
|
Interest Cost |
0.1 |
0.1 |
- |
- |
|
Expected Return on Plan Assets |
0.0 |
0.0 |
- |
- |
|
Amortization of Transition Cost |
0.1 |
0.1 |
- |
- |
|
Provision for Defined Benefit Plan |
- |
- |
0.1 |
0.0 |
|
Domestic Pension Plan Expense |
0.2 |
0.2 |
0.1 |
0.0 |
|
Pro.for Defined Contribution Plan-Domest |
0.3 |
0.3 |
0.2 |
0.1 |
|
Total Pension Expense |
0.5 |
0.5 |
0.3 |
0.2 |
|
Discount Rate |
1.75% |
2.00% |
1.75% |
- |
|
Rate of Compensation Increaase |
3.00% |
5.00% |
5.00% |
- |
|
Expected Rate of Return on Plan Assets |
1.75% |
2.00% |
1.75% |
- |
Annual Balance Sheet
Financials in: USD (mil)
|
|
|
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate |
29.011999 |
30.279 |
29.1565 |
31.985 |
|
Auditor |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
Cash and Cash Equivalents |
11.4 |
13.4 |
9.5 |
5.5 |
|
Financial Assets-Fair Value through P/L, |
0.0 |
0.0 |
0.0 |
- |
|
Notes Receivable |
1.1 |
0.6 |
0.2 |
0.2 |
|
Accounts Receivable, Gross |
24.0 |
19.6 |
14.5 |
2.4 |
|
Provision for Doubtful Accounts |
-2.8 |
-2.5 |
-2.6 |
-0.3 |
|
Provision for Sales Return and Discount |
- |
- |
- |
-0.1 |
|
Accounts Receivable - Related Parties |
- |
- |
- |
2.6 |
|
Other Receivables - Related Parties |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Financial Assets - Current |
0.1 |
0.5 |
0.3 |
0.1 |
|
Deferred Income Tax Assets - Current |
0.7 |
0.9 |
0.9 |
0.7 |
|
Restricted Assets,Current |
0.5 |
0.0 |
5.7 |
0.8 |
|
Prepayment & Other Current Assets |
2.1 |
2.5 |
2.4 |
0.3 |
|
Raw Materials |
2.1 |
2.8 |
2.1 |
0.9 |
|
Work-in-Process |
17.8 |
19.9 |
13.0 |
6.7 |
|
Semi-finished Goods |
0.6 |
0.4 |
0.4 |
0.4 |
|
Finished Goods |
4.4 |
3.0 |
4.0 |
1.5 |
|
Total Current Assets |
62.1 |
61.3 |
50.4 |
21.7 |
|
|
|
|
|
|
|
Long-Term Equity Investments |
- |
- |
- |
4.4 |
|
Buildings and Structures |
13.2 |
4.8 |
4.8 |
2.5 |
|
Machinery and Equipment |
4.2 |
4.1 |
3.9 |
1.0 |
|
Research Equipment |
0.3 |
0.3 |
0.0 |
- |
|
Transportation Equipment |
1.1 |
1.0 |
0.9 |
0.5 |
|
Office Equipment |
0.9 |
0.7 |
0.7 |
0.2 |
|
Miscellaneous Equipment |
5.2 |
1.4 |
1.4 |
0.9 |
|
Accumulated Depreciation on Fixed Assets |
-7.7 |
-6.8 |
-6.5 |
-1.9 |
|
Construction in Progress |
0.0 |
2.9 |
0.1 |
0.0 |
|
Prepayment for Equipment |
0.0 |
0.0 |
0.0 |
- |
|
Patents |
- |
- |
0.0 |
- |
|
Computer Software Cost |
0.2 |
0.3 |
0.1 |
- |
|
Goodwill |
0.0 |
0.2 |
0.2 |
- |
|
Deferred Pension Cost |
0.7 |
0.7 |
0.9 |
0.0 |
|
Rental Assets - Machinery and Equipment |
0.8 |
0.8 |
- |
- |
|
Rental Assets - Other |
0.0 |
0.0 |
- |
- |
|
Accumulated Depreciation - Rental Assets |
-0.3 |
-0.2 |
- |
- |
|
Land Use Right |
0.5 |
0.5 |
0.5 |
- |
|
Security Deposits Paid |
0.6 |
0.2 |
0.0 |
0.0 |
|
Deferred Charges |
0.1 |
0.0 |
0.0 |
0.0 |
|
Deferred Income Tax Assets |
0.1 |
0.3 |
0.8 |
0.8 |
|
Total Assets |
81.9 |
72.6 |
58.3 |
30.1 |
|
|
|
|
|
|
|
Short Term Borrowings |
16.2 |
8.5 |
9.7 |
6.0 |
|
Notes & Accounts Payable |
8.9 |
9.3 |
8.7 |
3.6 |
|
Other Payables,Related Parties |
0.0 |
0.0 |
0.0 |
0.1 |
|
Equipment Payables |
0.0 |
0.6 |
0.0 |
- |
|
Advance Receipts |
10.7 |
14.5 |
10.0 |
3.2 |
|
Current Portion of Long Term Debt |
1.4 |
0.1 |
0.3 |
0.3 |
|
Accrued Expenses&Other Current Liabiliti |
3.5 |
4.8 |
3.8 |
1.3 |
|
Total Current Liabilities |
40.8 |
37.7 |
32.6 |
14.5 |
|
|
|
|
|
|
|
Long Term Borrowings |
7.2 |
0.6 |
0.8 |
1.0 |
|
Total Long Term Debt |
7.2 |
0.6 |
0.8 |
1.0 |
|
|
|
|
|
|
|
Accrued Pension Liabilities |
0.9 |
0.8 |
0.9 |
0.0 |
|
Minority Interest |
- |
- |
0.2 |
- |
|
Total Liabilities |
48.9 |
39.2 |
34.4 |
15.4 |
|
|
|
|
|
|
|
Common Stock |
24.8 |
19.8 |
14.5 |
10.4 |
|
Cap.Surplus, Additional Paid in Capital |
6.5 |
6.2 |
2.9 |
1.3 |
|
Capital Surplus, Donated Assets Received |
0.3 |
0.0 |
- |
- |
|
Legal Reserve |
1.3 |
0.7 |
0.4 |
0.4 |
|
Special Reserve |
0.0 |
0.3 |
0.0 |
- |
|
Retained Earnings |
0.5 |
6.3 |
6.4 |
2.6 |
|
Cumulative Translation Adjustment |
-0.3 |
0.0 |
-0.3 |
0.0 |
|
Total Equity |
33.0 |
33.4 |
23.9 |
14.6 |
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
81.9 |
72.6 |
58.3 |
30.1 |
|
|
|
|
|
|
|
S/O-Common Sotck |
72.0 |
72.0 |
72.0 |
72.0 |
|
Total Common Shares Outstanding |
720.0 |
720.0 |
720.0 |
720.0 |
|
T/S-Common Sotck |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Revenue, Current |
10.7 |
14.5 |
10.0 |
3.2 |
|
Accumulated Intangible Amort, Suppl. |
0.7 |
0.5 |
0.4 |
- |
|
Employees |
715 |
695 |
668 |
247 |
|
Long Term Debt Maturing within 1 Year |
1.4 |
0.1 |
- |
- |
|
Long Term Debt Maturing in Year 2 |
1.5 |
0.1 |
- |
- |
|
Long Term Debt Maturing in Year 3 |
1.5 |
0.1 |
- |
- |
|
Long Term Debt Maturing in Year 4 |
1.5 |
0.1 |
- |
- |
|
Long Term Debt Maturing in Year 5 |
1.3 |
0.1 |
- |
- |
|
Long Term Debt - Remaining Maturities |
1.5 |
- |
- |
- |
|
Total Long Term Debt, Supplemental |
8.7 |
0.7 |
- |
- |
|
Operating Lease Pymts. Due within 1Year |
0.2 |
0.2 |
- |
- |
|
Operating Lease Payments Due in Year 2 |
0.2 |
0.2 |
- |
- |
|
Operating Lease Payments Due in Year 3 |
0.1 |
0.1 |
- |
- |
|
Operating Lease Payments Due in Year 4 |
0.1 |
0.1 |
- |
- |
|
Operating Lease Payments Due in Year 5 |
0.1 |
0.1 |
- |
- |
|
Total Operating Leases, Supplemental |
0.8 |
0.8 |
- |
- |
|
Benefit Obligation |
2.5 |
3.4 |
3.6 |
- |
|
Fair Value of Plan Assets |
0.7 |
0.6 |
0.6 |
- |
|
Funded Status |
-1.8 |
-2.8 |
-3.0 |
- |
|
Accumulated Benefit Obligation |
1.6 |
1.5 |
1.5 |
- |
|
Total Funded Status |
-1.8 |
-2.8 |
-3.0 |
- |
|
Discount rate |
1.75% |
2.00% |
1.75% |
- |
|
Rate of Compensation Increase |
3.00% |
5.00% |
5.00% |
- |
|
Expected Rate of Return on Plan Assets |
1.75% |
2.00% |
1.75% |
- |
|
Deferred Pension Cost |
0.7 |
0.7 |
0.9 |
- |
|
Accrued Pension Liabilities |
-0.9 |
-0.8 |
-0.9 |
- |
|
Net Assets Recognized on Balance Sheet |
-0.2 |
-0.1 |
0.0 |
- |
|
|
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
TWD |
TWD |
TWD |
TWD |
|
Exchange Rate
(Period Average) |
29.57962 |
29.39004 |
31.497037 |
33.023867 |
|
Auditor |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
Net Income |
-1.3 |
5.2 |
3.4 |
-0.2 |
|
Depreciation |
0.9 |
0.6 |
0.6 |
0.3 |
|
Amortization |
0.2 |
0.2 |
0.2 |
- |
|
Deferred Charges |
- |
- |
- |
0.1 |
|
Provision for Doubtful Accounts |
- |
- |
- |
0.0 |
|
Reversal of Provision for Impairment Lo |
1.4 |
-0.1 |
-0.2 |
- |
|
Provision for Sales Returns and Discount |
- |
- |
- |
0.1 |
|
Reversal of Provision for Sales Returns |
- |
- |
-0.2 |
- |
|
Loss on Financial Assets Valuation |
0.1 |
0.2 |
0.0 |
- |
|
Inventory Devaluation & Obsolescence |
0.3 |
0.5 |
0.1 |
0.8 |
|
Physical Loss on Inventory |
0.0 |
0.1 |
0.1 |
0.0 |
|
Compensation-Donated Assets Received |
0.3 |
- |
- |
- |
|
Impairment Loss on Goodwill |
0.2 |
- |
- |
- |
|
Loss on Disposal&Write-off of Properties |
0.0 |
0.0 |
0.0 |
0.0 |
|
Notes Receivable |
-0.4 |
-0.4 |
0.0 |
0.2 |
|
Accounts Receivable |
-5.0 |
-5.8 |
-1.4 |
4.9 |
|
Accounts Receivable-Related Parties |
- |
- |
- |
-2.5 |
|
Other Receivables-Related Parties |
0.0 |
0.0 |
0.0 |
0.0 |
|
Inventories |
1.8 |
-8.3 |
-5.3 |
2.0 |
|
Prepayment |
0.8 |
-0.1 |
-1.7 |
-0.1 |
|
Financial Assets-Fair Value |
0.0 |
-0.2 |
- |
- |
|
Other Current Assets |
-0.3 |
0.0 |
-0.1 |
0.0 |
|
Other Financial Assets |
0.4 |
-0.4 |
0.1 |
-0.1 |
|
Deferred Tax Assets |
0.6 |
0.3 |
0.0 |
-0.5 |
|
Notes Payable |
0.3 |
0.3 |
0.1 |
-0.4 |
|
Accounts Payable |
-1.1 |
0.5 |
2.4 |
0.0 |
|
Accounts Payable,Related Parties |
- |
- |
- |
0.0 |
|
Other Payables,Related Parties |
0.0 |
0.0 |
0.0 |
0.0 |
|
Tax Payable |
-0.5 |
0.4 |
0.1 |
-0.1 |
|
Accrued Expenses |
-0.4 |
-0.2 |
1.2 |
0.1 |
|
Advance Receipts |
-4.3 |
5.0 |
3.9 |
-2.0 |
|
Other Current Liabilities |
-0.6 |
0.8 |
-0.3 |
-0.1 |
|
Accrued Pension Liabilities |
0.1 |
0.1 |
0.0 |
- |
|
Cash from Operating Activities |
-6.4 |
-1.1 |
3.0 |
2.5 |
|
|
|
|
|
|
|
Purchase of Financial Assets-Fair Value, |
- |
- |
0.0 |
- |
|
Disposal of Financial Assets-Fair Value, |
- |
- |
0.0 |
- |
|
Equity LT Investment Increase |
- |
- |
- |
-4.2 |
|
Capital Expenditure |
-9.7 |
-3.7 |
-0.2 |
-0.1 |
|
Disposal of Fixed Assets |
0.1 |
0.0 |
0.0 |
- |
|
Security Deposit Paid |
-0.4 |
-0.1 |
0.0 |
0.0 |
|
Deferred Charges Increase |
-0.2 |
0.0 |
-0.1 |
0.0 |
|
Restricted Assets |
-0.5 |
5.7 |
-4.5 |
0.0 |
|
Purchase of Intangible Assets |
0.0 |
-0.3 |
-0.1 |
0.0 |
|
LT Notes Receivable Decrease |
- |
- |
- |
0.0 |
|
Cash from Investing Activities |
-10.8 |
1.5 |
-4.9 |
-4.3 |
|
|
|
|
|
|
|
Minority Interest |
0.0 |
-0.2 |
-4.1 |
- |
|
Short Term Borrowings Increase |
7.2 |
- |
2.9 |
0.0 |
|
Short Term Borrowings Decrease |
- |
-0.9 |
- |
- |
|
Long Term Borrowings Increase |
7.9 |
- |
- |
0.3 |
|
Repayment of Long Term Borrowings |
-0.2 |
-0.3 |
-0.3 |
-0.5 |
|
Increase in Accounts Payable,Related Par |
- |
- |
- |
-0.5 |
|
Cash Dividend - Common Stock |
-0.4 |
0.0 |
- |
0.0 |
|
Security Deposit Received |
- |
- |
0.0 |
- |
|
Cash Capital |
0.0 |
5.2 |
4.3 |
5.1 |
|
Cash from Financing Activities |
14.5 |
3.9 |
2.7 |
4.4 |
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
0.0 |
-0.3 |
- |
|
Net Change in Cash |
-2.6 |
4.4 |
0.5 |
2.6 |
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
13.7 |
9.5 |
8.3 |
2.7 |
|
Net Cash - Ending Balance |
11.1 |
13.8 |
8.8 |
5.3 |
|
Cash Interest Paid |
0.1 |
0.2 |
0.1 |
0.1 |
|
Cash Taxes Paid |
0.4 |
0.3 |
0.1 |
0.2 |
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
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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.65.67 |
|
UK Pound |
1 |
Rs.102.20 |
|
Euro |
1 |
Rs.87.75 |
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.