|
Report Date : |
29.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
CHI MEI CORPORATION |
|
|
|
|
Registered Office : |
No.59-1 San Chia, Jen Te ,Tainan City 71702 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
30.06.2012 |
|
|
|
|
Date of Incorporation : |
11.01.1960 |
|
|
|
|
Com. Reg. No.: |
68387705 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and sales chemicals, etc. |
|
|
|
|
No. of Employees : |
About 2,000 Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
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: |
|
|
Supplied Address: |
|
|
Telephone Number: |
|
|
Fax Number: |
|
|
E-mail: |
|
|
Website: |
Notes: The exact name and address are as above.
Subject was incorporated on 1960-1-11 with registered number 68387705 as Joint Stock Company in Taiwan.
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 |
|
Chunhua Xu |
1,588,277 |
|
Taiqi Investment
Co., Ltd. (Literal Translation) |
|
|
267,890,743 |
|
|
Lingyu Zhao |
5,741,814 |
|
Rongjun Lin |
336,656 |
|
Guangfu Song |
1,651,063 |
|
Qingsheng Lin |
892,145 |
|
Mitsubishi
Chemical Corporation |
145,189,272 |
|
Zhaoyang He |
1,994,019 |
|
Yueli Investment
Co., Ltd. (Literal Translation) |
21,643,807 |
The information
above is that of subject’s major shareholders.
Offices
|
1 |
|
|
Name: |
Taipei Technology Service Center |
|
Address: |
8/F., No.9., Aiguo West Road, Taipei City, Taiwan |
|
Tel: |
+886-2-23148841 |
|
Fax: |
+886-2-23618800 |
|
2 |
|
|
Name: |
Taichung Technology Service Center |
|
Address: |
No. 27-5., Section 1, Xiangshang Road, West District, Taipei City,
Taiwan. |
|
Tel: |
+886-4-23022255 |
|
Fax: |
+886-4-23016161 |
Related Companies
|
1 |
|
|
Name: |
Zhenjiang Chi Mei Co., Ltd (Literal Translated) |
|
Address: |
No.2., Hanqiao Road, Dagang Development Area, Zhenjiang City, Jiangsu
Province, China |
|
Tel: |
+86-511-83121300 |
|
Fax: |
+86-511-83121033 |
|
2 |
|
|
Name: |
Chi Mei Innolux Corporation |
|
Address: |
No.160 Science Road, Hsinchu Science and Industry Park, Zhunan
Township, Miaoli County, Taiwan |
|
Tel: |
+886-3-758-6000 |
|
Listed at Stock Exchange: |
Yes; Stock Symbol: 3481 |
|
3 |
|
|
Name: |
Chi Lin Technology Co., Ltd. |
|
Address: |
No., 18, Shengli 1st St., Rende Dist., Tainan City, 71758, Taiwan
(R.O.C.) |
|
Tel: |
+886-6-279-1188 |
|
Fax: |
+886-6-279-1685 |
|
4 |
|
|
Name: |
Chimei Materials Technology Corp. |
|
Address: |
No.13, Muzhagang W. Rd., Shanhua Dist., Tainan City 741, Taiwan (R.O.C.) |
|
Tel: |
+886-6-588-9988 |
|
Listed at Stock Exchange: |
Yes; Stock Symbol: 4960 |
|
5 |
|
|
Name: |
Nexgen Mediatech Inc |
|
Address: |
11F, No. 186, Jianyi Rd., Chung Ho City, Taipei Hsien, Taiwan,
R.O.C. |
|
Tel: |
+886-2-8227-1133 |
|
Fax: |
+886-2-82271498 |
|
6 |
|
|
Name: |
GIO Optoelectronics Corp. |
|
Address: |
No.5 Titang Gang Road, Fenghua Li, Xinshi District, Tainan City,
Taiwan |
|
Tel: |
+886-6-588-9999 |
|
Fax: |
+886-6-509-1188 |
|
Listed at Stock Exchange: |
Yes; Stock Symbol: 3610 |
|
7 |
|
|
Name: |
Chi Mei Visual Technology Corporation |
|
Address: |
No.13, Muzhagang W. Rd., Shanhua Dist., Tainan City 741, Taiwan
(R.O.C.) |
|
Tel: |
+886-6-588-9988 |
|
Fax: |
+886-6-5091005 |
|
8 |
|
|
Name: |
Chimei Lighting Technology Corp. |
|
Address: |
No.3, Titanggang Rd., Xinshi Dist., Tainan City, Taiwan; Tainan,
Taiwan |
|
Tel: |
+886-6-588-9968 |
|
Fax: |
+886-6-509-1268 |
|
9 |
|
|
Name: |
Chi Mei Trading Co., Ltd. |
|
Address: |
7F, No. 9, Ai Kuo West Road, Taipei, Taiwan |
|
Tel: |
+886-2-2349-7388 |
|
Fax: |
+886-2-2314-9419 |
|
10 |
|
|
Name: |
Chi Mei Logistics Corp. |
|
Address: |
No.5 Kanxi Road, Sinshih Township Tainan County, Taiwan |
|
Tel: |
+886-6-588-9977 |
|
Fax: |
+886-6-509-1158 |
|
11 |
|
|
Name: |
Chi Mei Frozen Food Co., Ltd. |
|
Address: |
Mo.71 Delun Road, Rende District, Tainan City, Taiwan |
|
Tel: |
+886-7-699-3901 |
|
Fax: |
+886-6-279-1194 |
Core
Management
|
1 |
|
|
Name |
Chunhua Xu |
|
Position |
Chairman |
|
2 |
|
|
Name |
Wenlong Xu |
|
Position |
Director |
|
3 |
|
|
Name |
Jinxiang Liao |
|
Position |
Director |
|
4 |
|
|
Name |
Lingyu Zhao |
|
Position |
Director |
|
5 |
|
|
Name |
Rongjun Lin |
|
Position |
Director |
|
6 |
|
|
Name |
Guangfu Song |
|
Position |
Director |
|
7 |
|
|
Name |
Qingsheng Lin |
|
Position |
Director |
|
8 |
|
|
Name |
Jucheng Lv |
|
Position |
Director |
|
9 |
|
|
Name |
Muzi Lu |
|
Position |
Director |
|
10 |
|
|
Name |
Zhaoyang He |
|
Position |
Supervisor |
|
11 |
|
|
Name |
Yongchun Wu |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
About 2,000 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
|
Production
Information
l
Subject is engaged in manufacture of chemicals
products such as synthetic resin, etc.
l
Subject obtained the certifications of ISO 9001:
2000 and ISO 14001.
l
Subject has factories in Taiwan and mainland China
for production and the annual production capacities are as follows for
reference:
|
Product |
Annual Capacity |
|
ABS Resin |
1,500,000 tons |
|
PS Resin |
150,000 tons |
|
TPE |
50,000 tons |
|
PSP Resin |
120,000 tons |
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
C801010 |
Basic chemical industry |
|
C801020 |
Manufacturing industry for petrochemical
and chemical raw materials |
|
C801060 |
Synthetic rubber manufacturing industry |
|
C801100 |
Synthetic resin and plastic manufacturing
industry |
|
C802990 |
Other chemical products manufacturing
industry |
|
C901070 |
Stone product manufacturing industry |
|
CC01990 |
Other electric motor and electronic
machinery manufacturing industry |
|
F105050 |
Wholesales of furniture, bedclothing,
kitchen appliance and decoration |
|
F107990 |
Wholesales of other chemical products |
|
F199990 |
Other wholesales industry |
|
F205040 |
Retails of furniture, bedclothing, kitchen
appliance and decoration |
|
F207990 |
Retails of other chemical products |
|
F299990 |
Other retails |
|
G801010 |
Storage industry |
|
H701020 |
Rent and sale of industrial warehouse |
|
H701040 |
Developing of special industrial area |
|
H701060 |
Developing of new town and subdistrict |
|
J101040 |
Waste management industry |
|
J101050 |
Environment measuring service industry |
|
J101060 |
Waste water disposal |
|
CC01080 |
Electric components manufacturing industry |
|
C801990 |
Other chemical material manufacturing
industry |
|
C805010 |
Plastic sheath, pipes manufacturing
industry |
|
C805050 |
Industrial plastic product manufacturing
industry |
|
C805990 |
Other plastic product manufacturing
industry |
|
C802090 |
Cleaning supplies manufacturing industry |
|
C802100 |
Cosmetics manufacturing industry |
|
ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted |
l The raw materials
for production are purchased both home and abroad.
l It is introduced
that some facilities for production are purchased from Japan and Europe.
l Subject imports
some technology from Japan.
l Subject is engaged
in sales of chemical products such as synthetic resin, etc.
l
The major products sold by subject include ABS
resin, SAN resin, PS resin, acrylic resin, PC resin, PC/ABS resin, TPE, Q resin,
electronic chemical, optical pmma sheet, MS resin, and ASA resin, etc.
l
Subject’s sales regions include Asia, America, and
Europe, etc.
l
Subject’s major customers include house ware
manufacturer, packaging manufacturer, communication & electronics manufacturer,
and garment manufacturer, etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase (Taiwan and Mainland, China)
|
Payment Terms |
Proportion |
|
|
Raw materials |
COD,CBD, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials |
CBD, etc |
100% |
Sales
Domestic Markets (Taiwan and Mainland, China)
|
Sales Terms |
Proportion |
|
|
Industrial chemicals |
COD,CBD, Credit Sales, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Industrial chemicals |
CBD, etc |
100% |
Notes: Subject’s settlement for export is generally in USD
Unit: NTD/000
|
Date |
2012-6-30 |
2011-6-30 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
2,113,541.00 |
1,517,876.00 |
|
Available-for-sale financial assets -
current |
5,207,783.00 |
47,854.00 |
|
Notes receivable - net |
73,024.00 |
124,798.00 |
|
Accounts receivable - net |
1,649,990.00 |
1,478,301.00 |
|
Accounts receivable - related parties -
net |
2,741,555.00 |
3,056,228.00 |
|
Other receivables |
569,516.00 |
342,764.00 |
|
Inventories |
11,635,436.00 |
14,802,853.00 |
|
Other current assets |
805,521.00 |
1,616,135.00 |
|
Current assets |
24,796,366.00 |
22,986,809.00 |
|
Funds and Investments |
|
|
|
Financial liabilities at fair value
through profit or loss-non current |
408,347.00 |
1,000,000.00 |
|
Available-for-sale financial assets-non
current |
7,022,434.00 |
0.00 |
|
Financial assets at cost-non current |
1,180,384.00 |
1,235,570.00 |
|
Income from long-term equity investments
under the equity method |
22,656,430.00 |
57,483,246.00 |
|
Investments |
22,656,430.00 |
57,483,246.00 |
|
Other financial assets- non current |
78,364.00 |
87,599.00 |
|
Funds and Investments |
31,345,959.00 |
59,806,415.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
6,533,449.00 |
6,533,449.00 |
|
Buildings and structures |
5,494,314.00 |
5,319,745.00 |
|
Machinery and equipment |
33,603,307.00 |
32,156,632.00 |
|
Other facilities |
1,717,783.00 |
1,597,881.00 |
|
Revaluation increment |
89,525.00 |
89,525.00 |
|
Cost and revaluation increment |
47,438,378.00 |
45,697,232.00 |
|
Accumulated depreciation |
-31,302,874.00 |
-29,845,519.00 |
|
Accumulated loss-fix asset |
-1,070,512.00 |
-1,070,589.00 |
|
Construction in process and prepayment for
equipments |
3,622,069.00 |
3,123,111.00 |
|
Fixed assets |
18,687,061.00 |
17,904,235.00 |
|
Intangible Assets |
|
|
|
Deferred pension cost |
5,565.00 |
36,724.00 |
|
Other intangible assets |
215,860.00 |
178,673.00 |
|
Intangible assets |
221,425.00 |
215,397.00 |
|
Other assets |
|
|
|
Rent assets |
851,833.00 |
884,619.00 |
|
Idle assets |
1,126,288.00 |
1,128,936.00 |
|
Other assets-other |
1,369,316.00 |
1,467,394.00 |
|
Other assets |
3,347,437.00 |
3,480,949.00 |
|
Assets |
78,398,248.00 |
104,393,805.00 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowing |
1,043,814.00 |
1,945,736.00 |
|
Notes payable |
4,150,000.00 |
2,950,000.00 |
|
Accounts payable |
4,162,644.00 |
6,540,749.00 |
|
Accounts payable–related parties |
67,701.00 |
97,028.00 |
|
Income tax payable |
287,395.00 |
1,590,240.00 |
|
Other payables |
1,263,396.00 |
1,347,150.00 |
|
Long-Term Liabilities-Current Portion |
0.00 |
7,250,000.00 |
|
Other current liabilities |
999,099.00 |
318,530.00 |
|
Current liabilities |
11,974,049.00 |
22,039,433.00 |
|
Long term Liabilities |
|
|
|
Long-term loans |
23,111,400.00 |
16,431,400.00 |
|
Long term liabilities |
23,111,400.00 |
16,431,400.00 |
|
Reserves |
|
|
|
Reserve for land revaluation increment tax |
2,320.00 |
2,320.00 |
|
Reserves |
2,320.00 |
2,320.00 |
|
Other Liabilities |
|
|
|
Pension reserve / accrued pension
liability |
527,591.00 |
464,662.00 |
|
Deferred income taxes |
373,174.00 |
310,616.00 |
|
Other liabilities - other |
506,125.00 |
1,082,344.00 |
|
Other liabilities |
1,406,890.00 |
1,857,622.00 |
|
Liabilities |
36,494,659.00 |
40,330,775.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
17,076,760.00 |
17,262,480.00 |
|
Capital Surplus |
|
|
|
Capital surplus - additional paid-in
capital |
0.00 |
27,747.00 |
|
Capital surplus - long-term equity
investments |
265,792.00 |
222,695.00 |
|
Capital surplus |
265,792.00 |
250,442.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
10,055,690.00 |
10,055,690.00 |
|
Special reserve |
909,116.00 |
7,882.00 |
|
Unappropriated retained earnings |
27,761,989.00 |
38,825,279.00 |
|
Retained earnings |
38,726,795.00 |
48,888,851.00 |
|
Stockholders' Equity and Other adjustment |
|
|
|
Cumulative translation adjustments |
190,792.00 |
-516,581.00 |
|
Net loss not recognized as pension cost |
-282,453.00 |
-190,763.00 |
|
Unrealized gains (losses) on financial
instruments |
-13,373,335.00 |
-397,901.00 |
|
Unrealized Revaluation Increment |
108,148.00 |
108,148.00 |
|
Treasury stock |
-808,910.00 |
-1,341,646.00 |
|
Stockholders other equity adjustments |
-14,165,758.00 |
-2,338,743.00 |
|
Stockholders-equity |
41,903,589.00 (USD
1,399,579,872.60) |
64,063,030.00 (USD 2,139,705,202.00) |
|
Number of treasury stock acquired by the company
and subsidiaries (unit: share) |
25,964,000.00 |
37,813,000.00 |
|
Equivalent shares of outstandings of
advance receipts for common stock (unit: share) |
0.00 |
0.00 |
(As of 2013.03, 1 NTD =
0.0334 USD)
Unit: NTD/000
|
Date |
2012-1-1~2012-6-30 |
2011-1-1~2011-6-30 |
|
Sales |
45,088,854.00 (USD
1,505,967,723.60) |
53,465,087.00 (USD
1,785,733,905.80) |
|
Sales returns |
545,097.00 |
544,640.00 |
|
Sales |
44,543,757.00 |
52,920,447.00 |
|
Operating income |
44,543,757.00 |
52,920,447.00 |
|
Cost of sales |
40,652,507.00 |
44,632,663.00 |
|
Operating costs |
40,652,507.00 |
44,632,663.00 |
|
Gross profit (loss) from operations |
3,891,250.00 |
8,287,784.00 |
|
Unrealized gains on intercompany
transactions |
58,597.00 |
160,637.00 |
|
Realized gains on intercompany
transactions |
76,521.00 |
89,282.00 |
|
Selling expense |
951,284.00 |
968,167.00 |
|
General and administrative expenses |
376,103.00 |
466,910.00 |
|
Research and development expenses |
539,467.00 |
447,720.00 |
|
Operating expenses |
1,866,854.00 |
1,882,797.00 |
|
Operating income (loss) |
2,042,320.00 |
6,333,632.00 |
|
Non-Operating Income |
|
|
|
Interest income |
7,823.00 |
4,259.00 |
|
Investment income |
27,560.00 |
54,313.00 |
|
Dividend income |
27,560.00 |
54,313.00 |
|
Gains on sale of investments |
0.00 |
19,421.00 |
|
Foreign exchange gains |
43,826.00 |
36,459.00 |
|
Rent income |
78,543.00 |
52,916.00 |
|
Miscellaneous income |
179,374.00 |
110,174.00 |
|
Non-operating revenues and gains |
337,126.00 |
277,542.00 |
|
Non-Operating Expenses |
|
|
|
Interest expense |
202,785.00 |
192,308.00 |
|
Investment loss recognized under equity
method |
3,792,581.00 |
2,897,656.00 |
|
Investment losses |
3,792,581.00 |
2,897,656.00 |
|
Miscellaneous disbursements |
20,451.00 |
19,622.00 |
|
Non-operating expenses and losses |
4,015,817.00 |
3,109,586.00 |
|
Income (loss)from continuing operations
before income tax |
-1,636,371.00 |
3,501,588.00 |
|
Income tax expense (benefit) |
254,022.00 |
1,734,358.00 |
|
Income (loss) from continuing operations |
-1,890,393.00 |
1,767,230.00 |
|
Net income (loss) |
-1,890,393.00 (USD
-63,139,126.20) |
1,767,230.00 (USD 59,025,482.00) |
|
Primary Earnings per Share |
|
|
|
Income (loss) from continuing operations |
-1.12 |
1.05 |
|
Primary earnings per share |
-1.12 |
1.05 |
|
Diluted earnings per share |
|
|
|
Income (loss) from continuing operations |
-1.12 |
1.04 |
|
Diluted earnings per share |
-1.12 |
1.04 |
(As of 2013.03, 1 NTD =
0.0334 USD)
Unit: NTD/000
|
Date |
2012-1-1~2012-6-30 |
2011-1-1~2011-6-30 |
|
Cash Flows from Operating Activities -
Indirect Method |
|
|
|
Net Income (Loss) |
(1,890,393) |
1,767,230 |
|
Adjustment item |
|
|
|
Depreciation Expense |
991,733 |
1,252,414 |
|
Amortization Expense |
114,107 |
106,663 |
|
Allowance for sales returns and allowances |
87,135 |
241,860 |
|
Loss (Gain) on Decline (Recovery) in
Market Value, Scrap and Obsolescence of Inventories |
129,241 |
6,247 |
|
Investment Loss (Income) Recognized under
Equity Method |
3,792,581 |
2,897,656 |
|
Received the equity method of invested
company cash dividends |
17,840 |
278,997 |
|
Loss (Gain) on Disposal of Fix Assets |
-1,759 |
-4,268 |
|
Fix assets transferred charges |
0 |
23,491 |
|
Decrease (Increase) in Income from long-term
equity investments under the equity method |
0 |
4,133 |
|
Other adjustment item |
0 |
-23,554 |
|
Changes in Operating Assets and
Liabilities |
|
|
|
Decrease (Increase) in Notes Receivable |
70,993 |
149,267 |
|
Decrease (Increase) in Accounts Receivable |
-163,697 |
-313,778 |
|
Decrease (Increase) in Other Receivable |
-19,216 |
101,336 |
|
Decrease (Increase) in Inventories |
-1,819,933 |
-5,493,763 |
|
Decrease (Increase) in Other Current
Assets |
-110,380 |
-96,241 |
|
Decrease (Increase) in Deferred Income Tax
assets |
-55,079 |
138,441 |
|
Increase (Decrease) in Notes Payable |
-734,265 |
1,664,495 |
|
Increase (Decrease) in income tax payable |
107,982 |
63,672 |
|
Increase (Decrease) in other accounts payable |
-508,279 |
-2,157,493 |
|
Increase (Decrease) in Other Current
Liabilities |
156,310 |
-445,091 |
|
Increase (Decrease) in accrued pension liabilities |
-239 |
-228 |
|
Net Cash Provided by (Used in) Operating
Activities |
164,682 |
161,486 |
|
Cash Flows from Investing Activities |
|
|
|
Disposal of Financial liabilities at fair
value through profit or loss |
591,653 |
0 |
|
Disposal of Financial assets at cost-non
current |
0 |
28,679 |
|
Increase in income from long-term equity investments
under the equity method |
0 |
-1,135,979 |
|
Disposal of the cost income from long-term
equity investments under the equity method |
0 |
78,693 |
|
Purchase of Property, Plant and Equipment |
-1,273,887 |
-2,997,795 |
|
Proceeds from Disposal of Property, Plant
and Equipment |
2,260 |
9,842 |
|
Purchase of intangible assets |
-7,760 |
-5,992 |
|
Increase (Decrease) in other financial
assets |
19,709 |
128,153 |
|
Increase (Decrease) in other assets |
-19,408 |
-35,737 |
|
Net Cash Provided by (Used in) Investing
Activities |
-687,433 |
-3,930,136 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in short-term
borrowing |
-161,864 |
-1,745,850 |
|
Increase (Decrease) in payable short-term transactions
instruments |
-200,000 |
1,600,000 |
|
Bonds redeemed |
-5,000,000 |
0 |
|
Long-term loans borrowing |
8,590,000 |
3,270,000 |
|
Repay long-term loans |
-800,000 |
-1,100,000 |
|
Increase (Decrease) in other liabilities |
-284,304 |
954,462 |
|
Issue cash dividend |
-1,682,385 |
-2,557,473 |
|
Cost of buying treasury stock |
-55,365 |
-17,547 |
|
Net Cash Provided by (Used in) financial
Activities |
406,082 |
403,592 |
|
Net Increase (Decrease) in Cash and Cash
Equivalents |
-116,669 |
-3,365,058 |
|
Cash and Cash Equivalents, Beginning of
year |
2,230,210 |
4,882,934 |
|
Cash and Cash Equivalents, End of year |
2,113,541 |
1,517,876 |
|
Supplemental Cash Flow Information |
|
|
|
Income Tax Paid |
273,574 |
255,085 |
|
Non capitalized interest-interest paid |
273,574 |
255,085 |
|
Payable income tax |
201,119 |
1,532,245 |
|
Net cash provided by (used in) no
influence on investment and financial activities |
|
|
|
Long-Term Liabilities -Current Portion |
0 |
7,250,000 |
|
Fix assets transferred to idle assets |
27,263 |
105,097 |
|
Fix assets transferred to deferred charges |
2,395 |
0 |
|
Long term equity investment transferred to
Available for sale financial assets-current |
23,594,234 |
0 |
|
Investing Activities Affecting Both Cash
and Non-cash Items |
|
|
|
Pay cash on fix assets |
|
|
|
Increase in fix assets |
1,274,148 |
2,882,340 |
|
Increase (Decrease) in payable of
purchasing equipment |
(261) |
115,455 |
|
Pay cash on fix assets |
1,273,887 |
2,997,795 |
Subject declined to disclose its bank details; from other source we cannot obtain the relevant information, either.
Mortgage
No chattel mortgage record of subject has been found within the recent 3
months.
Lawsuit
Up to date of
reporting, no existing or latent litigation of the subject has been found.
|
Name |
Ms. Liu |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
UK Pound |
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
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.