|
Report Date : |
20.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHINY CHEMICAL
INDUSTRIAL CO., LTD. |
|
|
|
|
Registered Office : |
No.5, Yeong Gong
1st Rd., Yong'an Dist., Kaohsiung City 828 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
04.01.1979 |
|
|
|
|
Com. Reg. No.: |
75970680 |
|
|
|
|
Legal Form : |
Joint Stock
Company |
|
|
|
|
Line of Business : |
Manufacturing and
sales of chemicals |
|
|
|
|
No. of Employees : |
230 |
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
The exact name and
address are as above.
|
Registered Name: |
Shiny Chemical
Industrial Co., Ltd. |
|
Registered
Address: |
No.5, Yeong Gong
1st Rd., Yong'an Dist., Kaohsiung City 828, Taiwan (R.O.C.) |
|
Date of
Foundation: |
1979-1-4 |
|
Registration
Number: |
75970680 |
|
Registry: |
Department
of Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 2,000,000,000 (USD 67,000,000) (As of 2013.11, 1
NTD = 0.0335 USD) |
|
Paid-up Capital: |
NTD 1,335,000,000
(USD 44,722,500) |
|
Legal
Representatives: |
Jingyuan Sun |
|
Legal Form: |
|
|
Manufacturing and sales of chemicals and etc |
|
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject was incorporated on 1979-1-4 with registered number 75970680 as Joint Stock Company in Taiwan.
Subject listed on Taiwan stock exchange on 2009-2-27.
|
Name |
Subscription Shares |
|
Ninghan Development Co., Ltd. |
40,890,916 |
| Jinyan Li |
4,195,364 |
|
Qizhi Sun |
2,212,314 |
|
Dunhong Wang |
260,794 |
|
Zhisheng Su |
6,000 |
|
Junyi Huang |
442,229 |
|
Yu Kuo Plywood Corp. |
16,657,436 |
|
Meizhu Linzheng |
286,820 |
The information above is that of subject’s major shareholders.
Shareholder
Information:
|
1 |
|
|
Registered Name: |
Ninghan Development Co., Ltd. |
|
Registered
Address: |
10F.-1, No.21,
Linsen 2nd Rd., Lingya Dist., Kaohsiung City, Taiwan (R.O.C.) |
|
Date of
Foundation: |
1991-5-9 |
|
Registration
Number: |
86119323 |
|
Registry: |
Economic
Development Bureau Kaohsiung City Government |
|
Registered
Capital: |
NTD 30,000,000
(USD 1,005,000) (As of 2013.12, 1
NTD = 0.0335 USD) |
|
Paid-up Capital: |
NTD 30,000,000
(USD 1,005,000) |
|
Legal
Representatives: |
Jingyuan Sun |
|
Legal Form: |
Joint Stock
Company |
|
Listed at Stock
Exchange: |
No |
|
Date of Last
Annual Return: |
2012-12-26 |
|
Telephone Number: |
+886-7-621-9171 |
|
Fax Number: |
+886-7-622-2620 |
|
2 |
|
|
Registered Name: |
Yu Kuo Plywood Corp. |
|
Registered
Address: |
No.840, Chung Hwa
1st Road, Gushan Dist., Kaohsiung 804,Taiwan, R.O.C. |
|
Date of
Foundation: |
1959-4-25 |
|
Registration
Number: |
75630206 |
|
Registry: |
Economic
Development Bureau Kaohsiung City Government |
|
Registered
Capital: |
NTD 60,000,000
(USD 2.010,000) (As of 2013.12, 1
NTD = 0.0335 USD) |
|
Paid-up Capital: |
NTD 60,000,000
(USD 2.010,000) |
|
Legal
Representatives: |
Junyao Wang |
|
Legal Form: |
Joint Stock
Company |
|
Listed at Stock
Exchange: |
No |
|
Date of Last
Annual Return: |
2007-4-30 |
|
Telephone Number: |
+886-7-552-5141 |
|
Fax Number: |
+886-7-552-3361 |
Related Companies
|
1 |
|
|
Name |
Uni-Shine Chemical Corporation |
|
Address |
6F., No.9, Dehui St., Zhongshan Dist., Taipei City, Taiwan (R.O.C.) |
|
Telephone Number |
+886-2-2596-6600 |
|
Fax Number |
+886-2-2585-2483 |
|
Main business is
building and operating of liquid chemical storage tank terminal, with
operations all across Taiwan and Mainland China. |
|
|
2 |
|
|
Name |
Azotek Co.,Ltd. |
|
Telephone Number |
+886-3-483-0356 |
|
Fax Number |
+886-3-483-0356 |
|
Principal Activities: |
Main business is
production and sales of polyimide composited copper clad laminates (2-Layer
FCCL); customer base includes various makers of electronic |
|
3 |
|
|
Name |
Shanghai Liansheng Chemical Co., Ltd. |
|
Address |
1259 Hua Dong Road,Pudong New District. Shanghai, China |
|
Telephone Number |
+86-21-68680248 |
|
Fax Number |
+86-21-68681497 |
|
|
|
|
Main business is production and sales of poly ethylene oxide (PEO); customer base includes paper, cosmetics and food industries etc. |
|
|
4 |
|
|
Name |
ZhangJiaGang Trans-Ocean Enterprise |
|
Address |
Yong Xu Village, Jin Feng Town, Zhang Jia Gang City, Jiangsu Province, China |
|
Telephone Number |
+86-512-58575857 |
|
Fax Number |
+ 86-512-58536699 |
|
Principal Activities: |
Main business is building and operating of liquid chemical storage tank terminal, customer base includes domestic and foreign companies. |
|
5 |
|
|
Name |
E shine Advanced Chemical Co., Ltd |
|
Address |
Taiwan, Changhua Coastal industrial area |
|
Telephone Number |
+886-4-7588555 |
|
Fax Number |
+886-4-7588550 |
Factories
|
1 |
|
|
Name: |
Qianzhen Terminal |
|
Address: |
O.2,Li Yeh Rd, Chen Tseng Dist., Kaohsiung City, Taiwan, ROC |
|
Date of
Foundation: |
1987-12-30 |
|
Date of
Registration: |
1989-12-6 |
|
Factory
Registration Number: |
64004553 |
|
Factory Manager: |
Jingyuan Sun |
|
Status: |
In Production |
|
Date of Last
Annual Return: |
2001-9-4 |
|
Major Products: |
181 Basic chemical materials 192 Coating, dyes and pigment |
|
+886-7-821-7190 |
|
|
Fax Number: |
+886-7-821-7195 |
|
2 |
|
|
Address: |
No.5, Yeong Gong 1st Rd., Yong'an Dist., Kaohsiung City 828, Taiwan (R.O.C.) |
|
Date of
Foundation: |
1990-12-31 |
|
Date of
Registration: |
1990-12-31 |
|
Factory
Registration Number: |
99661596 |
|
Factory Manager: |
Jingyuan Sun |
|
Status: |
In Production |
|
Date of Last
Annual Return: |
2001-9-6 |
|
Major Products: |
181 Basic chemical materials 192 Coating, dyes and pigment 199 Other chemical production |
|
3 |
|
|
Name: |
Yong-An Plant Two |
|
Address: |
No.18, Yeong Gong 1st Rd., Yong'an Dist., Kaohsiung City 828, Taiwan (R.O.C.) |
|
Date of
Registration: |
2007-4-9 |
|
Factory
Registration Number: |
99709894 |
|
Factory Manager: |
Jingyuan Sun |
|
Status: |
In Production |
|
Date of Last
Annual Return: |
2013-8-16 |
|
Major Products: |
181 Basic chemical materials |
|
Telephone Number: |
+886-7-861-9171 |
|
Fax Number: |
+886-7-621-8731 |
Offices
|
Name |
Taipei Office |
|
Address |
4F-3, No.9, De-Hui Street, Taipei, Taiwan, ROC. |
|
Telephone Number |
+886-2-2595-5887 |
|
Fax Number |
+886-2-2595-1355 |
Core Management
Directors
|
1 |
|
|
Name |
Jingyuan Sun |
|
Position |
Board Chairman |
|
Date of Appointment |
2006-4-13 |
|
2 |
|
|
Name |
Jinyan Li |
|
Position |
Deputy Chairman |
|
3 |
|
|
Name |
Qizbi Sun |
|
Position |
Director |
|
4 |
|
|
Name |
Dunhong Wang |
|
Position |
Director |
|
5 |
|
|
Name |
Zhisheng Su |
|
Position |
Director |
|
6 |
|
|
Name |
Junyi Huang |
|
Position |
Director |
|
7 |
|
|
Name |
Xiaoyan Wu |
|
Position |
Independent Director |
|
8 |
|
|
Name |
Xianlang Lin |
|
Position |
Independent Director |
|
9 |
|
|
Name |
Zhengji Ma |
|
Position |
Independent Director |
|
10 |
|
|
Name |
Yiling Chen |
|
Position |
|
|
11 |
|
|
Name |
Tengling Su |
|
Position |
Supervisor |
|
12 |
|
|
Name |
Meizhu Linzheng |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
About 230 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
No.5, Yeong Gong 1st Rd., Yong'an Dist., Kaohsiung City 828, Taiwan (R.O.C.) |
Production Information
Subject is a manufacturer of chemicals and etc.
It is introduced that subject has three factories in Taiwan and has two related factories in the mainland of China and Malaysia for production.
It is introduced that subject has obtained ISO 9001, ISO 14001, OHSAS 18001 and ISO 14064-1 certifications.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
C801010 |
Basic chemical industry. |
|
C801020 |
Manufacturing of petrochemical materials. |
|
C801030 |
Manufacturing of precision chemical |
|
C801100 |
Manufacturing of synthetic resin and plastic. |
|
C801990 |
Manufacturing of other chemical materials. |
|
C802120 |
Manufacturing of industrial additives. |
|
CC01080 |
Manufacturing of electronic components. |
|
F401010 |
International trading business. |
|
G801010 |
Storage. |
|
H703100 |
Renting real estate. |
|
JE01010 |
Leasing. |
|
ZZ99999 |
Besides licensed business, all other business items those are not banned or restricted. |
The raw material and etc for production is purchased both at home and abroad.
It is introduced that subject imports some equipment, technologies and etc from Japan and etc.
The subject is mainly engage in sales of chemicals and etc.
It is introduced that subject’s selling territory is covering all over the world.
It is introduced that subject’s major customers are manufacturers of electronics, semi-conductors, chemical industry and etc.
It is introduced that subject’s products are applied to manufacturing of cosmetics, perfume, synthetic leather, dyes, pigments, textiles and furniture, etc.
Major Products
|
Product |
Details |
|
EL-Grade Solvents |
NORMAL BUTYL ACETATE PROPYLENE GLYCOL MONOMETHYL ETHER ACETATE PROPYLENE GLYCOL MONOMETHYL ETHER PROPYLENE GLYCOL MONOMETHYL ETHER PROPIONATE ISO-PROPYL ALCOHOL ACETONE N-METHYL PYRROLIDONE ETHYLENE GLYCOL DIMETHYL SULFOXIDE MONOETHANOLAMINE EBR THINNER (SEP73、SEP02、SEP04…etc) |
|
Acetate Series |
NORMAL BUTYL ACETATE ISO-BUTYL ACETATE SHINYTATE NORMAL PROPYL ACETATE ETHYL ACETAE PROPYLENE GLYCOL MONOMETHYL ETHE ACETATE PROPYLENE GLYCOL MONOMETHYL ETHER PROPIONATE |
|
Formaldehyde Series |
FORMALIN SHINYFOL - MF SHINYFOL - NBF SHINYFOL - IBF UREA-FORMALDEHYDE RESIN MELAMINE - FORMALDEHYDE RESIN HARDENER |
|
General Solvents |
METHANOL NORMAL BUTYL ALCOHOL ISO-BUTYL ALCOHOL NORMAL PROPYL ALCOHOL ISO-PROPYL ALCOHOL PROPYLENE GLYCOL MONOMETHYL ETHER ETHYLENE GLYCOL MONOBUTYL ETHER GLACIAL ACETIC ACID CYCLOHEXANONE ACETONE TOLUENE XYLENE |
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase (Taiwan and Mainland, China)
|
Payment Terms |
Proportion |
|
|
The raw material and etc |
COD, CBD and etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
The raw material and etc |
CBD and etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Chemicals and etc. |
COD, CBD and etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Chemicals and etc. |
CBD and etc |
100% |
Unit: NTD/000
|
Date |
2012-12-31 |
2011-12-31 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
109,717.00 |
104,219.00 |
|
Notes receivable - net |
78,974.00 |
93,489.00 |
|
Accounts receivable - net |
866,768.00 |
840,961.00 |
|
Other receivables |
18,047.00 |
13,923.00 |
|
Inventories |
696,559.00 |
689,163.00 |
|
Other prepayments |
23,073.00 |
16,558.00 |
|
Other current assets |
3,225.00 |
7,864.00 |
|
Current assets |
1,796,363.00 |
1,766,177.00 |
|
Funds and Investments |
|
|
|
Financial assets carried at cost - non current |
127,705.00 |
134,205.00 |
|
Equity investments under equity method |
1,022,419.00 |
1,006,489.00 |
|
Investments |
1,022,419.00 |
1,006,489.00 |
|
Funds and long-term investments |
1,150,124.00 |
1,140,694.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
303,413.00 |
277,120.00 |
|
Buildings and structures |
612,297.00 |
698,078.00 |
|
Machinery and equipment |
701,258.00 |
690,068.00 |
|
Utilities equipment |
160,967.00 |
174,150.00 |
|
Transportation equipment |
45,148.00 |
34,173.00 |
|
Office equipment |
23,319.00 |
22,518.00 |
|
Rental assets - other |
606,382.00 |
440,192.00 |
|
Other facilities |
552,457.00 |
541,273.00 |
|
Revaluation increment |
3,681.00 |
3,681.00 |
|
Cost and revaluation increment |
3,008,922.00 |
2,881,253.00 |
|
Accumulated depreciation |
-1,872,764.00 |
-1,740,388.00 |
|
Construction in process and prepayment for equipments |
263,547.00 |
75,534.00 |
|
Fixed assets |
1,399,705.00 |
1,216,399.00 |
|
Intangible Assets |
|
|
|
Deferred pension cost |
0.00 |
0.00 |
|
Intangible assets |
0.00 |
0.00 |
|
OtherAssets |
|
|
|
Guarantee deposits paid |
16,094.00 |
15,911.00 |
|
Deferred charges |
7,731.00 |
8,335.00 |
|
Deferred income tax assets - non current |
0.00 |
0.00 |
|
Other assets - other |
18,674.00 |
90,175.00 |
|
Other assets |
42,499.00 |
114,421.00 |
|
Assets |
4,388,691.00 |
4,237,691.00 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowings |
80,000.00 |
251,000.00 |
|
Notes payable |
56,526.00 |
67,758.00 |
|
Notes payable - related parties |
5,309.00 |
10,082.00 |
|
Accounts payable |
324,510.00 |
275,803.00 |
|
Income tax payable |
55,561.00 |
38,708.00 |
|
Accrued expenses |
157,071.00 |
121,124.00 |
|
Other payables |
85,555.00 |
36,817.00 |
|
Advance receipts |
6,043.00 |
4,862.00 |
|
Long-term liabilities - current portion |
0.00 |
0.00 |
|
Other current liabilities |
0.00 |
0.00 |
|
Current liabilities |
770,575.00 |
806,154.00 |
|
Long term Liabilities |
|
|
|
Long-term borrowings |
0.00 |
0.00 |
|
Long-term liabilities |
0.00 |
0.00 |
|
Reserves |
|
|
|
Reserve for land revaluation increment tax |
1,118.00 |
1,118.00 |
|
Reserves |
1,118.00 |
1,118.00 |
|
Other Liabilities |
|
|
|
Pension reserve / accrued pension liability |
226,247.00 |
225,826.00 |
|
Guarantee deposits received |
3,929.00 |
0.00 |
|
Deferred income tax liabilities |
1,077.00 |
3,533.00 |
|
Other liabilities - other |
1,808.00 |
1,731.00 |
|
Other liabilities |
233,061.00 |
231,090.00 |
|
Liabilities |
1,004,754.00 |
1,038,362.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
1,335,000.00 |
1,335,000.00 |
|
Capital Surplus |
|
|
|
Capital surplus - additional paid-in capital |
101,165.00 |
101,165.00 |
|
Capital surplus - long-term equity investments |
16,084.00 |
16,084.00 |
|
Capital surplus |
117,249.00 |
117,249.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
536,412.00 |
487,994.00 |
|
Unappropriated retained earnings |
1,351,820.00 |
1,204,724.00 |
|
Retained earnings |
1,888,232.00 |
1,692,718.00 |
|
Stockholders' Equity and Other adjustmen |
|
|
|
Cumulative translation adjustments |
54,831.00 |
74,223.00 |
|
Net loss not recognized as pension cost |
-11,938.00 |
-20,424.00 |
|
Unrealized Revaluation Increment |
563.00 |
563.00 |
|
Equity adjustments |
43,456.00 |
54,362.00 |
|
Stockholdersˉ equity |
3,383,937.00 (USD 113,361,889.5) |
3,199,329.00 (USD 107,177,521.5) |
|
Number of treasury stock acquired by the company and subsidiaries (unit: share) |
0.00 |
0.00 |
|
|
0.00 |
0.00 |
(As of 2013.11, 1
NTD = 0.0335 USD)
Unit: NTD/000
|
Date |
2012 |
2011 |
|
Sales |
6,534,071.00 (USD 218,891,378.5) |
6,600,645.00 (USD 221,121,607.5) |
|
Sales returns |
829.00 |
987.00 |
|
Sales discounts and allowances |
8,397.00 |
4,786.00 |
|
Sales |
6,524,845.00 |
6,594,872.00 |
|
Operating income |
6,524,845.00 |
6,594,872.00 |
|
Operating costs |
5,498,645.00 |
5,688,073.00 |
|
Gross profit (loss) from operations |
1,026,200.00 |
906,799.00 |
|
Unrealized gains on intercompany transactions |
1,808.00 |
1,731.00 |
|
Realized gains on intercompany transactions |
1,731.00 |
2,049.00 |
|
Selling expense |
214,372.00 |
206,561.00 |
|
General and administrative expenses |
235,201.00 |
221,890.00 |
|
Research and development expenses |
31,130.00 |
27,881.00 |
|
Operating expenses |
480,703.00 |
456,332.00 |
|
Operating income (loss) |
545,420.00 |
450,785.00 |
|
Non-Operating Income |
|
|
|
Interest income |
273.00 |
179.00 |
|
Inome from long-term equity investments under the equity method |
93,934.00 |
110,512.00 |
|
Dividends |
0.00 |
0.00 |
|
Investment income |
93,934.00 |
110,512.00 |
|
Gains on disposal of fixed assets |
7,410.00 |
392.00 |
|
Gains on sale of investments |
0.00 |
0.00 |
|
Foreign exchange gains |
0.00 |
2,776.00 |
|
Miscellaneous income |
19,777.00 |
17,949.00 |
|
Non-operating revenues and gains |
121,394.00 |
131,808.00 |
|
Non-Operating Expenses |
|
|
|
Interest expense |
424.00 |
1,440.00 |
|
Foreign exchange losses |
6,038.00 |
0.00 |
|
Impairment loss on assets |
6,500.00 |
0.00 |
|
Miscellaneous disbursements |
2,006.00 |
2,062.00 |
|
Non-operating expenses and losses |
14,968.00 |
3,502.00 |
|
Income from continuing operations before income tax |
651,846.00 |
579,091.00 |
|
Income tax expense (benefit) |
109,232.00 |
94,913.00 |
|
Income from continuing operations |
542,614.00 |
484,178.00 |
|
Net income (loss) |
542,614.00 |
484,178.00 (USD 16,219,963) |
|
Primary Earnings per Share |
|
|
|
Primary earnings per share |
4.06 |
3.63 |
|
Diluted earnings per share |
|
|
(As of 2013.11, 1
NTD = 0.0335 USD)
|
Date |
2012 |
2011 |
|
Cash Flows from Operating Activities - Indirect Method |
|
|
|
Net Income (Loss) |
542,614.00 |
484,178.00 |
|
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in) Operating Activities |
|
|
|
Depreciation Expense |
145,560.00 |
152,746.00 |
|
Amortization Expense |
4,774.00 |
4,968.00 |
|
Provision (Reversal of Provision) for Bad Debts Losses |
-4,714.00 |
8,471.00 |
|
Share-based Compensation |
0.00 |
0.00 |
|
Difference Between Net Pension Cost and Plan Contribution |
9,519.00 |
10,305.00 |
|
Loss (Gain) on Decline (Recovery) in Market Value, Scrap and Obsolescence of Inventories |
-16,144.00 |
25,384.00 |
|
Loss (Gain) on Physical Inventory |
3,695.00 |
-59.00 |
|
Investment Loss (Income) Recognized under Equity Method |
-93,934.00 |
-110,512.00 |
|
Cash Dividends Received from Investments Accounted for under Equity Method |
54,028.00 |
23,610.00 |
|
Loss (Gain) on Disposal of Property, Plan and Equipment |
-7,410.00 |
-392.00 |
|
Property, Plan and Equipment Transferred to Expenses |
576.00 |
590.00 |
|
Loss (Gain) on Disposal of Investments |
0.00 |
0.00 |
|
Impairment Losses on Financial Asset |
6,500.00 |
0.00 |
|
Unrealized Gain (Loss) on Intercompany Transactions |
1,808.00 |
1,731.00 |
|
-1,731.00 |
-2,049.00 |
|
|
Other Adjustments to Reconcile Net Income |
-4,189.00 |
4,189.00 |
|
Changes in Operating Assets and Liabilities |
|
|
|
Decrease (Increase) in Notes Receivable |
14,384.00 |
-5,098.00 |
|
Decrease (Increase) in Accounts Receivable |
-20,962.00 |
35,585.00 |
|
Decrease (Increase) in Other Receivables |
-4,124.00 |
3,741.00 |
|
Decrease (Increase) in Inventories |
5,053.00 |
142,796.00 |
|
Decrease (Increase) in Other Prepayments |
-6,515.00 |
17,518.00 |
|
Decrease (Increase) in Deferred Tax Assets |
4,639.00 |
-14,185.00 |
|
Increase (Decrease) in Notes Payable |
-16,005.00 |
40,274.00 |
|
48,707.00 |
-178,290.00 |
|
|
Increase (Decrease) in Income Tax Payable |
16,853.00 |
-46,478.00 |
|
Increase (Decrease) in Accrued Expenses |
35,947.00 |
-40,208.00 |
|
Increase (Decrease) in Other Payables |
289.00 |
123.00 |
|
Increase (Decrease) in Receipts in Advance |
1,181.00 |
4,862.00 |
|
Increase (Decrease) in Deferred Tax Liabilities |
1,516.00 |
1,921.00 |
|
Net Cash Provided by (Used in) Operating Activities |
721,915.00 |
565,721.00 |
|
Cash Flows from Investing Activities |
|
|
|
Acquisition of Investments Accounted for by Equity Method |
0.00 |
0.00 |
|
Proceeds from Disposal of Investments Accounted for by Equity Method |
0.00 |
0.00 |
|
Purchase of Property, Plant and Equipment |
-264,678.00 |
-94,481.00 |
|
Proceeds from Disposal of Property, Plant and Equipment |
64,212.00 |
480.00 |
|
Decrease (Increase) in Refundable Deposits |
-183.00 |
-2,096.00 |
|
Increase in Deferred Charges |
-3,597.00 |
-1,149.00 |
|
Decrease (Increase) in Receivables |
0.00 |
0.00 |
|
Decrease (Increase) in Other Assets |
2,000.00 |
0.00 |
|
Net Cash Provided by (Used in) Investing Activities |
-202,246.00 |
-97,246.00 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in Short-term Loans |
-171,000.00 |
86,711.00 |
|
Repayment of Long-term Debt |
0.00 |
0.00 |
|
Increase (Decrease) in Guarantee Deposits Received |
3,929.00 |
0.00 |
|
Cash Dividends Paid |
-347,100.00 |
-534,000.00 |
|
Proceeds from Issuance of Shares |
0.00 |
0.00 |
|
Net Cash Provided by (Used in) Financing Activities |
-514,171.00 |
-447,289.00 |
|
Net Increase (Decrease) in Cash and Cash Equivalents |
5,498.00 |
21,186.00 |
|
Cash and Cash Equivalents, Beginning of year |
104,219.00 |
83,033.00 |
|
Cash and Cash Equivalents, End of year |
109,717.00 |
104,219.00 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid |
1,607.00 |
1,823.00 |
|
Capitalized Interest |
-1,149.00 |
-415.00 |
|
Interest Paid- Excluding Capitalized Interest |
458.00 |
1,408.00 |
|
Income Tax Paid |
86,224.00 |
153,655.00 |
|
Non-cash Investing and Financing Activities |
|
|
|
Current Portion of Long-term Liabilities |
0.00 |
0.00 |
|
Property, Plan and Equipment Transferred to Deferred Charges |
573.00 |
0.00 |
|
Other Assets Transferred to Property, Plan and Equipment |
69,501.00 |
0.00 |
|
Long-term Investments under Equity Method Reclassified as Financial Assets Measured at Cost |
0.00 |
0.00 |
|
Others |
0.00 |
0.00 |
|
Investing Activities Affecting Both Cash and Non-cash Items |
|
|
|
Cash Paid for Acquisition of Property, Plant and Equipment |
|
|
|
Increase in Property, Plant and Equipment |
317,316.00 |
115,502.00 |
|
Increase (Decrease) in Payable for Equipment Purchased |
-52,638.00 |
-21,021.00 |
|
Cash Paid for Acquisition of Property, Plant and Equipment |
264,678.00 |
94,481.00 |
Subject
declined to disclose its bank details; from other source we cannot obtain the
relevant information, either.
Mortgage
|
Case Type: |
Certificate No.: |
Debtor Name: |
Document Number: |
Date of Registration: |
Date of Alteration: |
Status: |
|
Chattel Mortgage |
045966 |
Shiny Chemical
Industrial Co., Ltd. |
188172 |
|
|
Paid off |
|
Chattel Mortgage |
067789 |
Shiny Chemical
Industrial Co., Ltd. |
576494 |
|
|
Paid off |
|
Chattel Mortgage |
092402 |
Shiny Chemical
Industrial Co., Ltd. |
09605171050 |
|
|
|
Lawsuit
Up to date of reporting, no existing or latent litigation of the subject has been found.
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.38 |
|
|
1 |
Rs.102.15 |
|
Euro |
1 |
Rs.85.29 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.