|
Report Date : |
23.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
CTCI CORPORATION |
|
|
|
|
Registered Office : |
No.89, Sec.6, Zhong Shan N. Road, Taipei 11155 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
30.09.2012 |
|
|
|
|
Date of Incorporation : |
06.04.1979 |
|
|
|
|
Com. Reg. No.: |
20817282 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Engineering design, engineering purchase, engineering construction, equipment supply, construction supervision, equipment manufacture, project management, as well as test and commissioning services |
|
|
|
|
No. of Employees : |
7,260 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Maximum Credit Limit: |
USD 5,000,000 |
|
Status : |
Good |
|
Payment Behaviour : |
Regular |
|
Litigation : |
-- |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
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. In keeping with this trend, some large, state-owned banks and industrial firms have been privatized. 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 1.9%, due primarily to a 20% year-on-year decline in exports. In 2010 GDP grew 10.9%, as exports returned to the level of previous years, and in 2011, grew 5.2%. However, 2012 growth will likely be less, according to most forecasters, 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 so far Taiwan has been excluded from this greater economic integration largely because of its diplomatic status with the exception of the landmark Economic Cooperation Framework Agreement (ECFA) signed with China in June 2010. The MA administration has said that the ECFA will serve as a stepping stone toward trade pacts with other regional partners, and negotiations on a deal with Singapore began this year. Follow-on components of ECFA, including deals on trade in goods, services, and investment, have yet to be completed. 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 10.9% of the island's total population as of 2011. The island runs a large trade surplus, and its foreign reserves are the world's fourth largest, behind China, Japan, and Russia. Since 2005 China has overtaken 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. Closer economic links with the mainland bring greater opportunities for the Taiwan economy, but also poses new challenges as the island becomes more economically dependent on China while political differences remain unresolved.
Source : CIA
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
No.89, Sec.6, Zhong Shan N. Road, Taipei
11155, Taiwan, R.O.C. |
|
Supplied Address: |
No. 89, Sec. 6, Jhongshan N. Rd., Shihlin
District, Taipei City |
|
Telephone Number: |
+886-2-2833-9999 |
|
Fax Number: |
Notes: Subject’s exact name and address are as above.
|
Credit Rating: |
|
|
Credit Opinion: |
|
Registered Name: |
CTCI Corporation |
|
Registered Address: |
No.89, Sec.6, Zhong Shan N. Road, Taipei 11155, Taiwan, R.O.C. |
|
Date of Foundation: |
|
|
Registration Number: |
20817282 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 9,000,000,000 (USD 305,100,000) (As of 2013.01, 1 NTD = 0.0339 USD) |
|
Paid-up Capital: |
NTD 7,319,674,230 (USD 248,136,956) |
|
Legal Representatives: |
Junyan Yu |
|
Legal Form: |
|
|
Principal Activities: |
Engineering design,
engineering purchase, engineering construction, equipment supply,
construction supervision, equipment manufacture, project management, as well
as test and commissioning services |
|
Staff: |
|
|
Listed at Stock
Exchange: |
|
|
Date of Last
Annual Return: |
Subject was incorporated on
Subject was listed
at Taiwan Stock Exchange on
Awards
|
Year |
Awards |
|
2009 |
Blue chip
importer and exporter |
|
2010 |
Blue chip
importer and exporter |
|
2011 |
Blue chip
importer and exporter |
Standard of Blue
chip importer and exporter
Unit:
USD
|
Year |
Amount |
|
2009 |
15,000,000 |
|
2010 |
20,000,000 |
|
2011 |
22,000,000 |
|
Name |
Subscription Shares |
|
Hsing
Li Development Co., Ltd (Literal Translation) |
912,170 |
|
Chuang Ding Investment Co., Ltd(Literal
Translation) |
|
|
344,436 |
|
|
Asian Crown Co., Ltd (Literal Translation) |
540 |
|
CTCI Foundation |
60,862,051 |
|
Asian Crown Second Investment Co., Ltd (Literal Translation) |
500 |
|
Gintech Energy Corporation |
2,948,000 |
The information
above is that of subject’s major shareholders.
Major Related Companies
|
E&C
Engineering Corp. Resources
Engineering Service Inc. Advanced Control
& System Inc. Innovest
Investment Corp. CTCI Chemicals
Corp. KD Holding Corp. Leading Energy
Corp. HD Resource
Management Corp. Fortune Energy
Corp. Sino
Environmental Services Corp. CTCI Machinery
Corp. CIPEC,
Philippines CTCI Overseas, Hong
Kong CIMAS, Vietnam CTCI, Thailand. CTCI, Korea CTCI, Hong Kong CINDA, India CTCI, Malaysia CTCI, Singapore CTCI, Italy CAL, KSA CPCL, KSA CTCI Qatar CTCI Abu Dhahi |
Core
Management
|
1 |
|
|
Name |
Junyan Yu |
|
Position |
Board Chairman
& Manager |
|
Date of
Appointment |
|
|
2 |
|
|
Name |
Junhua Lin |
|
Position |
Director &
Manager |
|
Date of
Appointment |
|
|
3 |
|
|
Name |
Yigui Wu |
|
Position |
Director |
|
4 |
|
|
Name |
Xuanqin Zhou |
|
Position |
Director |
|
5 |
|
|
Name |
Zhisen Lin |
|
Position |
Director |
|
6 |
|
|
Name |
Jinling Ma |
|
Position |
Director |
|
7 |
|
|
Name |
Chengyun Gu |
|
Position |
Director |
|
8 |
|
|
Name |
Yingjun Hai |
|
Position |
Director |
|
9 |
|
|
Name |
Takao Kamiji |
|
Position |
Director |
|
10 |
|
|
Name |
Ping Shen |
|
Position |
Supervisor |
|
11 |
|
|
Name |
Guoqiang Hu |
|
Position |
Supervisor |
|
12 |
|
|
Name |
Weishu Liu |
|
Position |
Supervisor |
|
13 |
|
|
Name |
Yiming Xu |
|
Position |
Manager |
|
Date of
Appointment |
|
Offices
& Factories
|
|
Headquarters |
|
Add |
No.89, Sec.6, Zhong Shan N. Road, Taipei 11155, Taiwan, R.O.C. |
Production
Information
l
Subject provides engineering design, engineering purchase,
engineering construction, equipment supply, construction supervision, equipment
manufacture, project management, as well as test and commissioning services
l
It is introduced that subject has been certificated
by ISO 9001: 2008, ISO 14001: 2004, OHSAS 18001: 2007 and TOSHMS: 2007, etc
Purchase
Information
l
The major registered activities of subject:
|
Business Code |
Details |
|
B101010 |
|
|
B102010 |
Petroleum and natural gas mining Industry |
|
B601010 |
Quarrying
Industrial |
|
C801010 |
Basic chemical industry |
|
C801020 |
Manufacture of petrochemical
materials |
|
C801030 |
Manufacture of Precision chemical materials |
|
C801060 |
Synthetic rubber manufacturing industry |
|
C801100 |
Synthetic resin and plastic manufacturing
industry |
|
C801110
|
Manufacture of fertilizer |
|
C801120 |
Manufacture of artificial
fiber |
|
C801990 |
Manufacture of other chemical materials |
|
C802120 |
Manufacture of industrial additives |
|
C802200 |
Manufacture of Coating paint dye and pigment |
|
C802990 |
Manufacture of other chemical products |
|
C901040 |
|
|
C901050 |
Manufacture of Cement and concrete |
|
CA01010 |
Iron And Steel Smelting Industry |
|
CA03010 |
Heat treatment industry |
|
CA04010 |
Surface treatment industry |
|
CB01010 |
Manufacture of mechanical equipment |
|
CB01030 |
Manufacture of Pollution control equipment |
|
CB01990 |
Manufacture of other machinery |
|
CC01010 |
Manufacture of power generation, transportation
and distribution machinery |
|
CC01040 |
Manufacture of lighting equipment |
|
CE01010 |
Manufacture of general instrument |
|
D301010 |
Operating of tap water |
|
D401010 |
Supplying of heat energy |
|
E801010 |
Interior Decoration |
|
EZ99990 |
Other engineering industry |
|
F107170 |
Wholesales of industrial additive |
|
F107200 化 |
Wholesales of chemical materials |
|
F107990 |
Wholesales of other chemical products |
|
F113010 |
Wholesales of machinery |
|
F113020 |
Wholesales of electronic appliance |
|
F113030 |
Wholesales of precision instrument |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
l
Subject purchases raw materials and equipment both
at home and abroad.
l Subject is mainly
engaged in engineering, procurement and construction (EPC) company. The Company
provides engineering design, engineering purchase, engineering construction,
equipment supply, construction supervision, equipment manufacture, project
management, as well as test and commissioning services to various industrial
sectors such as power, infrastructure, environmental protection, steel, storage
and terminal, oil refinery, incinerator, high technology, as well as
petrochemicals and chemicals, among others.
l
It is introduced that subject operates its business
mainly in Taiwan, Thailand, Middle East, Mainland China, India, Saudi Arab and
Southeast Asia, among others.
Major
business
|
Comprehesive Services: Construction |
|
Business Lines: Flue Gases Cleaning System Investment & Development |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Materials, etc |
COD, Credit
Sales, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Materials, etc |
CBD, Credit
Sales, etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Engineering
Service, etc |
Installment, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Engineering
Service, etc |
Installment, etc |
100% |
Unit: NTD/000
|
|
|
|
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash
equivalents |
8,955,626 |
10,844,604 |
|
Financial assets
measured at fair value through profit or loss - current |
1,423,232 |
2,118,413 |
|
Available-for-sale
financial assets - current |
415,495 |
389,584 |
|
Accounts
receivable - net |
1,106,801 |
1,486,519 |
|
Accounts
receivable - related parties - net |
118,516 |
232,315 |
|
Other
receivables |
49,460 |
59,353 |
|
Other
receivables - related parties |
3,028,911 |
1,434,931 |
|
Other financial
assets - current |
60,700 |
98,706 |
|
Inventories |
27,546 |
14,100 |
|
Construction in
process (for construction contracting business) |
76,151,857 |
40,791,111 |
|
Billings on
construction in process (for construction contracting business) |
-70,182,032 |
-36,448,886 |
|
Other
prepayments |
3,913,932 |
2,372,174 |
|
Other current
assets |
516,007 |
157,680 |
|
Current assets |
25,586,051 |
23,550,604 |
|
Funds and
Investments |
|
|
|
Financial assets
carried at cost - non current |
685,000 |
443,000 |
|
Equity investments
under equity method |
7,628,520 |
7,339,088 |
|
Investments |
7,628,520 |
7,339,088 |
|
Other financial
assets - non current |
0 |
300 |
|
Funds and
long-term investments |
8,313,520 |
7,782,388 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
127,227 |
127,227 |
|
Buildings and
structures |
124,799 |
124,799 |
|
Machinery and
equipment |
318,771 |
296,170 |
|
Transportation
equipment |
48,213 |
123,372 |
|
Office equipment |
49,000 |
44,157 |
|
Maintenance
equipment and tools |
36,131 |
32,251 |
|
Leasehold
improvements |
132,709 |
132,939 |
|
Fixed assets
cost |
836,850 |
880,915 |
|
Accumulated
depreciation |
-422,815 |
-422,676 |
|
Construction in
process and prepayment for equipments |
0 |
5,517 |
|
Fixed assets |
414,035 |
463,756 |
|
Intangible Assets |
|
|
|
Computer
software cost |
95,697 |
89,380 |
|
Intangible
assets |
95,697 |
89,380 |
|
OtherAssets |
|
|
|
Rental assets |
159,879 |
161,240 |
|
Guarantee
deposits paid |
192,388 |
187,935 |
|
Deferred charges |
68,195 |
90,538 |
|
Long-term notes
and accounts receivable |
557 |
679 |
|
Long-term notes
and accounts receivable - related parties |
452,067 |
0 |
|
Other assets |
873,086 |
440,392 |
|
Assets |
35,282,389 |
32,326,520 |
|
Liabilities and
Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current
Liabilities |
|
|
|
Financial
liabilities measured at fair value through profit or loss - current |
978 |
34,297 |
|
Notes payable |
23 |
2,196 |
|
Accounts payable |
6,629,930 |
6,467,408 |
|
Accounts payable
- related parties |
732,516 |
936,498 |
|
Income tax
payable |
358,861 |
89,557 |
|
Accrued expenses |
959,508 |
869,601 |
|
Billings on
construction in process (for construction contracting business) |
106,150,830 |
125,092,882 |
|
Construction in process
(for construction contracting business) |
-95,976,576 |
-116,183,944 |
|
Other current
liabilities |
92,241 |
140,940 |
|
Current
liabilities |
18,948,311 |
17,449,435 |
|
Long term
Liabilities |
|
|
|
Reserves |
|
|
|
Other
Liabilities |
|
|
|
Pension reserve
/ accrued pension liability |
1,745,517 |
1,190,428 |
|
Guarantee
deposits received |
29,928 |
29,053 |
|
Deferred income
tax liabilities |
9,947 |
74,119 |
|
Other
liabilities - other |
88,037 |
86,223 |
|
Other
liabilities |
1,873,429 |
1,379,823 |
|
Liabilities |
20,821,740 |
18,829,258 |
|
Stockholders'
Equity |
|
|
|
Capital |
|
|
|
Common stock |
7,319,674 |
7,097,568 |
|
Capital Surplus |
|
|
|
Capital surplus
- additional paid-in capital |
2,238,527 |
1,877,509 |
|
Capital surplus -
treasury stock transactions |
5,043 |
5,043 |
|
Capital surplus
- long-term equity investments |
238,887 |
166,490 |
|
Capital surplus
- employee stock option |
426,646 |
403,516 |
|
Capital surplus
- stock option |
18,368 |
26,097 |
|
Capital surplus -
other |
2,148 |
1,597 |
|
Capital surplus |
2,929,619 |
2,480,252 |
|
Retained
Earnings |
|
|
|
Legal reserve |
2,260,381 |
2,034,108 |
|
Special reserve |
56,584 |
187,165 |
|
Unappropriated
retained earnings |
1,957,679 |
1,817,034 |
|
Retained
earnings |
4,274,644 |
4,038,307 |
|
Stockholders'
Equity and Other adjustmen |
|
|
|
Cumulative
translation adjustments |
85,287 |
104,699 |
|
Net loss not
recognized as pension cost |
-338,227 |
-385,955 |
|
Unrealized gains
(losses) on financial instruments |
201,487 |
174,226 |
|
Treasure stock |
-11,835 |
-11,835 |
|
Equity
adjustments |
-63,288 |
-118,865 |
|
Stockholdersˉ
equity |
14,460,649 (USD 490,216,001) |
13,497,262 (USD 457,557,182) |
|
Number of treasury
stock acquired by the company and subsidiaries (unit: share) |
1,257,634 |
1,257,634 |
|
|
0.00 |
0.00 |
(As of 2013.01, 1 NTD =
0.0339 USD)
Unit: NTD/000
|
|
~ |
~ |
|
24,484,679 (USD 830,030,618) |
22,382,003 (USD 758,749,902) |
|
|
Construction and engineering revenue |
24,484,679 |
22,382,003 |
|
Other operating revenue |
354,001 |
402,548 |
|
Operating income |
24,838,680 |
22,784,551 |
|
Cost of engineering |
22,777,883 |
20,878,338 |
|
Cost of construction and engineering service |
22,777,883 |
20,878,338 |
|
Other operating costs |
355,542 |
392,642 |
|
Operating costs |
23,133,425 |
21,270,980 |
|
Gross profit (loss) from operations |
1,705,255 |
1,513,571 |
|
Realized gains on intercompany transactions |
1,385 |
1,359 |
|
General and administrative expenses |
691,097 |
601,914 |
|
Research and development expenses |
66,927 |
72,755 |
|
Operating expenses |
758,024 |
674,669 |
|
Operating income (loss) |
948,616 |
840,261 |
|
Non-Operating Income |
|
|
|
Interest income |
61,921 |
42,061 |
|
Inome from long-term equity investments under the
equity method |
809,761 |
931,319 |
|
Dividends |
28,162 |
30,116 |
|
Investment income |
837,923 |
961,435 |
|
Gains on disposal of fixed assets |
17,844 |
3,054 |
|
Gains on sale of investments |
739 |
4,491 |
|
Foreign exchange gains |
0 |
97,131 |
|
Rent income |
20,032 |
15,961 |
|
Revaluation gain on financial assets |
108,565 |
0 |
|
Miscellaneous income |
37,935 |
60,719 |
|
Non-operating revenues and gains |
1,084,959 |
1,184,852 |
|
Non-Operating Expenses |
|
|
|
Interest expense |
0 |
228 |
|
Foreign exchange losses |
67,387 |
0 |
|
Impairment loss on assets |
48,000 |
10,000 |
|
Revaluation loss on financial assets |
0 |
16,068 |
|
Miscellaneous disbursements |
10,964 |
12,257 |
|
Non-operating expenses and losses |
126,351 |
38,553 |
|
Income from continuing operations before income
tax |
1,907,224 |
1,986,560 |
|
Income tax expense (benefit) |
175,844 |
224,216 |
|
Income from continuing operations |
1,731,380 |
1,762,344 |
|
Net income (loss) |
1,731,380 (USD 58,693,782) |
1,762,344 (USD 59,743,462) |
|
Primary Earnings
per Share |
|
|
|
Income (loss) from
continuing operations |
2.42 |
2.52 |
|
Primary earnings
per share |
2.42 |
2.52 |
|
Diluted earnings
per share |
|
|
|
Income (loss)
from continuing operations |
2.33 |
2.43 |
|
Diluted earnings
per share |
2.33 |
2.43 |
(As of 2013.01, 1 NTD = 0.0339
USD)
\
Unit: NTD/000
|
|
~ |
~ |
|
|
|
|
|
Net Income (Loss) |
1,731,380 |
1,762,344 |
|
Net Income (Loss) |
1,731,380 |
1,762,344 |
|
Adjustments to Reconcile Net Income to Net Cash
Provided by (Used in) Operating Activities |
|
|
|
Depreciation Expense |
67,685 |
64,608 |
|
Amortization Expense |
86,956 |
78,562 |
|
Share-based Compensation |
71,110 |
103,164 |
|
Investment Loss (Income) Recognized under Equity
Method |
-809,761 |
-931,319 |
|
Cash Dividends Received from Investments
Accounted for under Equity Method |
763,586 |
780,447 |
|
Loss (Gain) on Disposal of Property, Plan and
Equipment |
-17,844 |
-3,054 |
|
Loss (Gain) on Disposal of Investments |
-739 |
-4,491 |
|
Unrealized Revaluation Loss (Gain) on Financial
Assets and Liabilities |
-108,565 |
16,068 |
|
Impairment Losses on Financial Asset |
48,000 |
10,000 |
|
Realized Loss (Gain) on Intercompany Transactions |
-1,385 |
-1,359 |
|
Changes in Operating Assets and Liabilities |
|
|
|
Decrease (Increase) in Financial Assets Held for
Trading |
592,960 |
-863,944 |
|
Decrease (Increase) in Accounts Receivable |
1,267,449 |
-289,410 |
|
Decrease (Increase) in Accounts Receivable -
Related Parties |
467,160 |
1,569,403 |
|
Decrease (Increase) in Other Receivables |
6,635 |
21,656 |
|
Decrease (Increase) in Other Receivable- Related
Parties |
-1,164,992 |
-971,063 |
|
Decrease (Increase) in Inventories |
-18,604 |
6,120 |
|
Decrease (Increase) in Balance of the
Construction-in-progress Account Exceeds the Balance of Billings on
Construction-in-progress |
-2,454,971 |
598,296 |
|
Decrease (Increase) in Other Prepayments |
-2,154,363 |
-886,861 |
|
Decrease (Increase) in Other Current Assets |
76,130 |
104,355 |
|
Decrease (Increase) in Other Financial Assets |
322,027 |
45,509 |
|
Decrease (Increase) in Deferred Tax Assets |
-277,307 |
14,250 |
|
Decrease (Increase) in Other Operating Assets |
-452,413 |
-1 |
|
Increase (Decrease) in Notes Payable |
-5,135 |
-1,094 |
|
Increase (Decrease) in Accounts Payable |
77,776 |
924,344 |
|
Increase (Decrease) in Accounts Payable - Related
Parties |
-332,393 |
565,405 |
|
Increase (Decrease) in Income Tax Payable |
145,804 |
-121,727 |
|
Increase (Decrease) in Accrued Expenses |
-365,198 |
-225,052 |
|
Decrease (Increase) in the Balance of Billings on
Construction-in-progress Exceeds Balance of the Construction-in-progress
Account |
965,225 |
-622,974 |
|
Increase (Decrease) in Other Current Liabilities |
-234,211 |
-95,877 |
|
Increase (Decrease) in Accrued Pension
Liabilities |
250,005 |
97,921 |
|
Net Cash Provided by (Used in) Operating
Activities |
-1,457,993 |
1,744,226 |
|
Cash Flows from Investing Activities Acquisition of Investments Accounted for by
Equity Method |
-149,350 |
-607,883 |
|
Proceeds from Disposal of Investments Accounted for
by Equity Method |
23 |
524,920 |
|
Purchase of Property, Plant and Equipment |
-23,403 |
-58,733 |
|
Proceeds from Disposal of Property, Plant and
Equipment |
19,183 |
9,632 |
|
Decrease (Increase) in Refundable Deposits |
-5,298 |
-9,188 |
|
Increase in Deferred Charges |
-33,836 |
-26,490 |
|
Purchase of Intangible Assets |
-43,122 |
-52,177 |
|
Net Cash Provided by (Used in) Investing
Activities |
-235,803 |
-219,919 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in Guarantee Deposits
Received |
-211 |
5,429 |
|
Cash Dividends Paid |
-1,995,431 |
-1,697,760 |
|
Exercise of Employee Stock Options |
411,485 |
215,121 |
|
Net Cash Provided by (Used in) Financing
Activities |
-1,584,157 |
-1,477,210 |
|
Net Increase (Decrease) in Cash and Cash
Equivalents |
-3,277,953 |
47,097 |
|
Cash and Cash Equivalents, Beginning of year |
12,233,579 |
10,797,507 |
|
Cash and Cash Equivalents, End of year |
8,955,626 |
10,844,604 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid |
0 |
228 |
|
Interest Paid- Excluding Capitalized Interest |
0 |
228 |
|
Income Tax Paid |
307,347 |
311,390 |
Subject did not introduce its bank details and from other source we can
not obtain the relevant information, either.
Mortgage
No chattel
mortgage record of subject has been found within the recent 3 months.
Lawsuit
|
Trial Number |
2009, Beijian,
31034 |
|
Trial Date |
|
|
Cause |
Return of cash
deposit |
|
2 |
|
|
Trial Number |
2008, Beijian,31034 |
|
Trial Date |
|
|
Cause |
Return of cash
deposit |
|
3 |
|
|
Trial Number |
2007, Beijian,
34532 |
|
Trial Date |
|
|
Cause |
|
|
Department |
Sales department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.51 |
|
|
1 |
Rs.84.85 |
|
Euro |
1 |
Rs.71.43 |
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.