|
Report Date : |
09.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
ACTION ELECTRONICS CO., LTD. |
|
|
|
|
Registered Office : |
No.198, Chung-Yuan Rd., Chung-Li City, Tao-Yuan Hsien |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
21.07.1976 |
|
|
|
|
Com. Reg. No.: |
44955117 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and sale of electronic products, etc. |
|
|
|
|
No. of Employees : |
About 2,000 Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but Correct |
|
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 4.1%. In
2012, however, growth fell to 1.3%, because of softening global demand.
Taiwan's diplomatic isolation, low birth rate, and rapidly aging population are
major long-term challenges. Free trade agreements have proliferated in East
Asia over the past several years, but except for the landmark Economic
Cooperation Framework Agreement (ECFA) signed with China in June 2010, so far
Taiwan has been excluded from this greater economic integration in part because
of its diplomatic status. Negotiations continue on such follow-on components of
ECFA regarding trade in goods and services. The MA administration has said that
the ECFA will serve as a stepping stone toward trade pacts with other key trade
partners, which Taiwan subsequently launched with Singapore and New Zealand.
Taiwan's Total Fertility rate of just over one child per woman is among the
lowest in the world, raising the prospect of future labor shortages, falling
domestic demand, and declining tax revenues. Taiwan's population is aging
quickly, with the number of people over 65 accounting for 11.2% of the island's
total population as of 2012. The island runs a large trade surplus largely
because of its surplus with China, and its foreign reserves are the world's
fifth largest, behind China, Japan, Saudi Arabia, and Russia. In 2006 China
overtook the US to become Taiwan's second-largest source of imports after
Japan. China is also the island's number one destination for foreign direct
investment. Three financial memorandums of understanding, covering banking, securities,
and insurance, took effect in mid-January 2010, opening the island to greater
investments from the mainland's financial firms and institutional investors,
and providing new opportunities for Taiwan financial firms to operate in China.
In August 2012, Taiwan Central Bank signed a memorandum of understanding on
cross-Strait currency settlement with its Chinese counterpart. The MOU allows
for the direct settlement of Chinese RMB and the New Taiwan dollar across the
Strait, which could help develop Taiwan into a local RMB hub. Closer economic
links with the mainland bring greater opportunities for the Taiwan economy, but
also poses new challenges as the island becomes more economically dependent on
China while political differences remain unresolved.
|
Source : CIA |
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
No.198,
Chung-Yuan Rd., Chung-Li City, Tao-Yuan Hsien, Taiwan, R.O.C. |
|
Supplied Address: |
198 Chung Yuan
Rd. Chung Li Ind. Zone Chung Li Taiwan R.O.C. |
|
Telephone Number: |
+886-3-451-5494 |
|
Fax Number: |
Notes: The exact address is as above.
Subject was incorporated on 1976-7-21 with registered number 44955117 as Joint Stock Company in Taiwan.
Subject was listed on Taiwan Stock Exchange on 2002-8-26.
|
Name |
Subscription Shares |
|
Junping Peng |
19,476,303 |
|
Dengbang Zhao |
|
|
1,297,820 |
|
|
Wenzhi Peng |
1,796,707 |
|
Tingyu Peng |
4,174,983 |
|
Bozhang Peng |
2,158,583 |
|
Hua Yi Investment Co., Ltd. (Literal
Translation) |
1,676,515 |
|
Jincheng Liao |
991,267 |
|
Jinlu Xu |
2,250,717 |
|
Ruien Peng |
2,807,190 |
|
Qiuqi Liu |
2,089,249 |
The information above is that of subject’s major shareholders.
Related Companies
|
1 |
|
|
Name: |
Hua Yi Investment Co., Ltd. (Literal Translation) |
|
Address: |
No.10, Alley 30, Lane 160, Renci Road, Renmei
Li, Zhongli City, Taoyuan County, Taiwan, R.O.C. |
|
Date of Foundation: |
1998-6-23 |
|
Registration Number: |
16533919 |
|
Registry: |
MOEA Central Office |
|
Registered Capital: |
NTD 1,000,000 (USD 34,000) (As of 2013.05, 1 NTD = 0.0340 USD) |
|
Legal Representatives: |
Yunzhu Chen |
|
Legal Form: |
Joint Stock Company |
|
Principal Activities: |
H201010 -- General investment business |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2011-10-25 |
|
2 |
|
|
Name: |
Action Technology (Shenzhen) Co., Ltd. |
|
Address: |
Building No.2 Jinmeiwei Industrial Park,
Xingye West Road, He'yi, Shajing Street, Bao'an District, Shenzhen City,
518104, China |
|
Telephone Number: |
+86-755-2987-5353 |
|
Fax Number: |
+86-755-2795-2201 |
|
3 |
|
|
Name: |
Action Asia (Shenzhen) Co., Ltd. |
|
Address: |
Dede Industrial Park, Jian'an Road,
High-Tech industrial Park, Fuyong own, Bao'an Dist., Shenzhen City 518103
China |
|
Telephone Number: |
+86-755-2917-9999 |
|
Fax Number: |
+86-755-2917-7666 |
|
4 |
|
|
Name: |
Action Technology (Jian) Co., Ltd. |
|
Address: |
Industrial Park, Jian County Jian City,
343100 China |
|
Telephone Number: |
+86-796-840-4118 |
|
Fax Number: |
+86-796-840-4116 |
|
5 |
|
|
Name: |
Action Industries (Malaysia) Sdn Bhd |
|
Address: |
2480 TingKat Perusahaan Enam, Prai Free
Trade Zone, 13600 Perai. Penang, Malaysia |
|
Telephone Number: |
+60-4-399-7600 |
|
Fax Number: |
+60-4-399-7604 |
|
6 |
|
|
Name: |
America Action Inc. |
|
Address: |
13620 5th St., Chino, CA 91710,
U.S.A. |
|
Telephone Number: |
+1-909-548-6600 |
|
Fax Number: |
+1-909-548-6603 |
|
7 |
|
|
Name: |
Far Year (Holding) Ltd. |
|
Address: |
Unit B, 21/F., Ykk Building, Phase Iii, 7
San Ping Circuit, Tuen Mun, N.T., H.K. |
|
Telephone Number: |
+852-2765-8213 |
|
Fax Number: |
+852-2333-9183 |
|
8 |
|
|
Name: |
Best Taiwan Inc. |
|
Address: |
No.198, Zhongyuan Rd., Zhongli City, Taoyuan
County 320, Taiwan (R.O.C.) |
|
Telephone Number: |
+886-3-451-5494 |
|
Fax Number: |
+886-3-452-0697 |
|
9 |
|
|
Name: |
Realise Tech-Service Co., Ltd. |
|
Address: |
2F, No. 14, Siwei St. Sanchung Dist., New
Taipei City 24155, Taiwan (R.O.C.) |
|
Telephone Number: |
+886-2-8287-6668 |
|
Fax Number: |
+886-2-8287-6669 |
Core
Management
|
1 |
|
|
Name |
Junping Peng |
|
Position |
Board Director |
|
2 |
|
|
Name |
Dengbang Zhao |
|
Position |
Director |
|
Date of Appointment |
2006-12-1 |
|
3 |
|
|
Name |
Wenzhi Peng |
|
Position |
Director |
|
4 |
|
|
Name |
Tingyu Peng |
|
Position |
Director |
|
5 |
|
|
Name |
Bozhang Peng |
|
Position |
Director |
|
6 |
|
|
Name |
Wenxin Lai |
|
Position |
Director |
|
7 |
|
|
Name |
Jincheng Liao |
|
Position |
Director |
|
8 |
|
|
Name |
Weishen Chen |
|
Position |
Independent Director |
|
9 |
|
|
Name |
Hanzong Li |
|
Position |
Independent Director |
|
10 |
|
|
Name |
Jinlu Xu |
|
Position |
Supervisor |
|
11 |
|
|
Name |
Ruien Peng |
|
Position |
Supervisor |
|
12 |
|
|
Name |
Qiuqi Liu |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 2,000 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
No.198, Chung-Yuan Rd., Chung-Li City,
Tao-Yuan Hsien, Taiwan, R.O.C. |
Production
Information
l Subject is engaged
in manufacturing of electronic
products, etc.
l Subject has factories in Taiwan, Shenzhen, China and Malaysia for
production and obtained the certifications of ISO 9001 and ISO 9002.
l It is introduced that subject can also provide OEM and ODM services.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
C399990 |
Manufacturing of other textile |
|
C802100 |
Manufacturing of cosmetic |
|
CB01020 |
Manufacturing of office equipment |
|
CC01030 |
Manufacturing of electrical equipment and
audio-visual electronic products |
|
CC01060 |
Manufacturing of wire communication
machinery |
|
CC01070 |
Manufacturing of wireless communication
machinery |
|
CC01080 |
Manufacturing of electronic components |
|
CC01101 |
Manufacturing of RF equipment controlled
by telecom |
|
CC01110 |
Manufacturing of computer and peripheral
equipment |
|
CE01030 |
Manufacturing of optical instrument |
|
CH01030 |
Manufacturing of stationery |
|
E601010 |
Installation of electrical equipment |
|
E604010 |
Installation of machinery |
|
EZ05010 |
Installation of instrument and meter |
|
F104110 |
Wholesale of textile, garment, shoe, hat,
umbrella, accessories |
|
F105050 |
Wholesale of furniture, bedding, kitchen
utensil, decoration |
|
F107030 |
Wholesale of cleaning supplies |
|
F108031 |
Wholesale of medical equipment |
|
F108040 |
Wholesale of cosmetic |
|
F109070 |
Wholesale of stationery, musical
instrument, recreational good |
|
F113010 |
Wholesale of machinery |
|
F113020 |
Wholesale of electrical equipment |
|
F113030 |
Wholesale of precise instrument |
|
F113050 |
Wholesale of computer and office equipment |
|
F113070 |
Wholesale of telecommunications equipment |
|
F116010 |
Wholesale of photographic apparatus |
|
F119010 |
Wholesale of electronic materials |
|
F207030 |
Retail of cleaning supplies |
|
F208031 |
Retail of medical equipment |
|
F209060 |
Retail of stationery, musical instrument,
recreational good |
|
F213010 |
Retail of electrical equipment |
|
F213030 |
Retail of computer and office equipment |
|
F213040 |
Retail of precise instrument |
|
F213060 |
Retail of telecommunications equipment |
|
F213080 |
Retail of machinery |
|
F216010 |
Retail of photographic apparatus |
|
F219010 |
Retail of electronic materials |
|
F401010 |
International trade business |
|
F401021 |
Import of RF equipment controlled by
telecom |
|
I103060 |
Management consulting business |
|
ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
l
The components for production are purchased from both
home and abroad.
l Subject is engaged
in sale of electronic products, etc.
l Subject’s sales regions include Europe, North America Japan, and other
Asian countries, etc.
l Subject’s major customers are 1st tier retailers, mass
merchandisers and distributors, etc.
l It is introduced that subject has their own retail store in Taiwan called
“Best Taiwan Inc.”.
l Subject obtained the authorization of the brand “Kolin” on 2012-6-1.
Major products
|
|
Product |
|
1 |
Portable Multimedia Player |
|
2 |
LCD Digital TV/ DVD Combo |
|
3 |
Digital Picture Frame with Clock/ Radio |
|
4 |
Mobile Entertainment Device |
|
5 |
Mobile Internet Device |
|
6 |
Solar Application |
|
7 |
Tablet PC |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment
Terms |
Proportion |
|
|
Components |
Cash,
T/T, etc |
100% |
Foreign Purchase
|
Payment
Terms |
Proportion |
|
|
L/C, T/T, etc |
100% |
Sales
Domestic Markets
|
Sales
Terms |
Proportion |
|
|
Electronic products |
Cash,
T/T, etc |
100% |
Export
|
Sales
Terms |
Proportion |
|
|
Electronic products |
L/C,
T/T, etc |
Components |
Unit: NTD/000
|
|
2012-12-31 |
2011-12-31 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
350,090.00 |
210,216.00 |
|
Financial assets measured at fair value
through profit or loss - current |
44,012.00 |
51,763.00 |
|
Notes receivable - net |
1,864.00 |
20,333.00 |
|
Accounts receivable - net |
18,112.00 |
3,560.00 |
|
Other receivables |
4,188.00 |
4,557.00 |
|
Other financial assets - current |
0.00 |
20,608.00 |
|
Inventories |
13,168.00 |
79.00 |
|
Other prepayments |
12,676.00 |
1,875.00 |
|
Other current assets |
15.00 |
2,226.00 |
|
Current assets |
444,125.00 |
315,217.00 |
|
Funds and Investments |
|
|
|
Financial assets carried at cost - non
current |
220,000.00 |
220,000.00 |
|
Equity investments under equity method |
2,702,932.00 |
3,694,082.00 |
|
Investments |
2,702,932.00 |
3,694,082.00 |
|
Other financial assets - non current |
1,452.00 |
0.00 |
|
Funds and long-term investments |
2,924,384.00 |
3,914,082.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
23,230.00 |
18,037.00 |
|
Buildings and structures |
90,377.00 |
82,034.00 |
|
Machinery and equipment |
1,031.00 |
1,072.00 |
|
Transportation equipment |
5,958.00 |
2,949.00 |
|
Office equipment |
15,395.00 |
15,169.00 |
|
Revaluation increment |
70,606.00 |
63,129.00 |
|
Cost and revaluation increment |
206,597.00 |
182,390.00 |
|
Accumulated depreciation |
-81,938.00 |
-71,562.00 |
|
Construction in process and prepayment for
equipments |
1,222.00 |
1,222.00 |
|
Fixed assets |
125,881.00 |
112,050.00 |
|
Intangible Assets |
|
|
|
Trademarks |
191,870.00 |
0.00 |
|
Patents |
242.00 |
0.00 |
|
Intangible assets |
192,112.00 |
0.00 |
|
OtherAssets |
|
|
|
Rental assets |
171,039.00 |
190,026.00 |
|
Guarantee deposits paid |
30.00 |
30.00 |
|
Deferred charges |
640.00 |
1,024.00 |
|
Other assets - other |
2,492.00 |
2,492.00 |
|
Other assets |
174,201.00 |
193,572.00 |
|
Assets |
3,860,703.00 |
4,534,921.00 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowings |
595,000.00 |
810,000.00 |
|
Notes payable |
1,942.00 |
0.00 |
|
Accounts payable |
19,330.00 |
605.00 |
|
Accounts payable - related parties |
31,881.00 |
95,966.00 |
|
Accrued expenses |
16,201.00 |
11,760.00 |
|
Other payables |
1,074.00 |
5,990.00 |
|
Advance receipts |
1,457.00 |
1,752.00 |
|
Current liabilities |
666,885.00 |
926,073.00 |
|
Long term Liabilities |
|
|
|
Reserves |
|
|
|
Reserve for land revaluation increment tax |
25,517.00 |
25,517.00 |
|
Reserves |
25,517.00 |
25,517.00 |
|
Other Liabilities |
|
|
|
Pension reserve / accrued pension
liability |
46,339.00 |
45,464.00 |
|
Guarantee deposits received |
1,796.00 |
2,622.00 |
|
Deferred income tax liabilities |
80,648.00 |
111,386.00 |
|
Other liabilities |
128,783.00 |
159,472.00 |
|
Liabilities |
821,185.00 |
1,111,062.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
2,821,575.00 |
3,071,575.00 |
|
Capital Surplus |
|
|
|
Capital surplus - additional paid-in
capital |
127,758.00 |
284,578.00 |
|
Capital surplus - treasury stock transactions |
87,908.00 |
53,861.00 |
|
Capital surplus - long-term equity
investments |
95,312.00 |
110,767.00 |
|
Capital surplus - other |
0.00 |
18,485.00 |
|
Capital surplus |
310,978.00 |
467,691.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
0.00 |
33,122.00 |
|
Unappropriated retained earnings |
-236,922.00 |
-208,427.00 |
|
Retained earnings |
-236,922.00 |
-175,305.00 |
|
Stockholders' Equity and Other adjustment |
|
|
|
Cumulative translation adjustments |
119,994.00 |
214,817.00 |
|
Net loss not recognized as pension cost |
-2,082.00 |
-2,176.00 |
|
Unrealized Revaluation Increment |
60,774.00 |
60,774.00 |
|
Treasure stock |
-34,799.00 |
-213,517.00 |
|
Equity adjustments |
143,887.00 |
59,898.00 |
|
Stockholders - equity |
3,039,518.00 (USD 103,343,612.00) |
3,423,859.00 (USD 116,411,206.00) |
|
Number of treasury stock acquired by the
company and subsidiaries (unit: share) |
4,726,000.00 |
24,742,000.00 |
|
|
0.00 |
0.00 |
(As of 2013.05, 1 NTD =
0.0340 USD)
Unit: NTD/000
|
|
2012-1-1~2012-12-31 |
2011-1-1~2011-12-31 |
|
Sales |
78,404.00 (USD 2,665,736.00) |
307,095.00 (USD 10,441,230.00) |
|
Sales returns |
0.00 |
5,872.00 |
|
Sales discounts and allowances |
158.00 |
0.00 |
|
Sales |
78,246.00 |
301,223.00 |
|
Operating income |
78,246.00 |
301,223.00 |
|
Cost of sales |
70,829.00 |
297,865.00 |
|
Operating costs |
70,829.00 |
297,865.00 |
|
Gross profit (loss) from operations |
7,417.00 |
3,358.00 |
|
Unrealized gains on intercompany
transactions |
-2.00 |
-2.00 |
|
Realized gains on intercompany
transactions |
-2.00 |
-7.00 |
|
Selling expense |
27,606.00 |
842.00 |
|
General and administrative expenses |
67,634.00 |
79,468.00 |
|
Operating expenses |
95,240.00 |
80,310.00 |
|
Operating income (loss) |
-87,823.00 |
-76,957.00 |
|
Non-Operating Income |
|
|
|
Interest income |
4,074.00 |
9,701.00 |
|
Dividends |
1,038.00 |
0.00 |
|
Investment income |
1,038.00 |
0.00 |
|
Foreign exchange gains |
3,968.00 |
11,763.00 |
|
Rent income |
14,062.00 |
11,420.00 |
|
Revaluation gain on financial assets |
3,845.00 |
0.00 |
|
Miscellaneous income |
28,546.00 |
42,522.00 |
|
Non-operating revenues and gains |
55,533.00 |
75,406.00 |
|
Non-Operating Expenses |
|
|
|
Interest expense |
17,663.00 |
8,626.00 |
|
Losses from long-term equity investments
under the equity method |
193,117.00 |
233,703.00 |
|
Investment loss |
193,117.00 |
233,703.00 |
|
Loss on sale of investments |
84.00 |
120.00 |
|
Revaluation loss on financial assets |
0.00 |
9,052.00 |
|
Miscellaneous disbursements |
2,693.00 |
2,876.00 |
|
Non-operating expenses and losses |
213,557.00 |
254,377.00 |
|
Income from continuing operations before
income tax |
-245,847.00 |
-255,928.00 |
|
Income tax expense (benefit) |
-8,925.00 |
-18,316.00 |
|
Income from continuing operations |
-236,922.00 |
-237,612.00 |
|
Net income (loss) |
-236,922.00 (USD
-8,055,348.00) |
-237,612.00 (USD -8,078,808.00) |
|
Primary Earnings per Share |
|
|
|
Income (loss) from continuing operations |
-0.81 |
-0.76 |
|
Primary earnings per share |
-0.81 |
-0.76 |
|
Diluted earnings per share |
|
|
(As of 2013.05, 1 NTD =
0.0340 USD)
Unit: NTD/000
|
|
2012-1-1~2012-12-31 |
2011-1-1~2011-12-31 |
|
Cash Flows from Operating Activities - Indirect
Method |
|
|
|
Net Income (Loss) |
-236,922.00 |
-237,612.00 |
|
Adjustments to Reconcile Net Income to Net
Cash Provided by (Used in) Operating Activities |
|
|
|
Depreciation Expense |
9,176.00 |
11,104.00 |
|
Amortization Expense |
6,265.00 |
485.00 |
|
Provision (Reversal of Provision) for Bad
Debts Losses |
-821.00 |
0.00 |
|
Loss (Gain) on Decline (Recovery) in
Market Value, Scrap and Obsolescence of Inventories |
297.00 |
148.00 |
|
Investment Loss (Income) Recognized under
Equity Method |
193,117.00 |
233,703.00 |
|
Cash Dividends Received from Investments
Accounted for under Equity Method |
40,667.00 |
50,378.00 |
|
Loss (Gain) on Disposal of Investments |
84.00 |
120.00 |
|
Unrealized Revaluation Loss (Gain) on Financial
Assets and Liabilities |
-3,845.00 |
9,052.00 |
|
Unrealized Gain (Loss) on Intercompany
Transactions |
2.00 |
-2.00 |
|
Realized Loss (Gain) on Intercompany
Transactions |
-2.00 |
7.00 |
|
Changes in Operating Assets and
Liabilities |
|
|
|
Decrease (Increase) in Financial Assets
Held for Trading |
11,512.00 |
-60,935.00 |
|
Decrease (Increase) in Notes Receivable |
18,469.00 |
-104.00 |
|
Decrease (Increase) in Accounts Receivable |
-10,596.00 |
137,529.00 |
|
Decrease (Increase) in Other Receivables |
369.00 |
8,731.00 |
|
Decrease (Increase) in Inventories |
-13,386.00 |
1.00 |
|
Decrease (Increase) in Other Prepayments |
-4,015.00 |
-912.00 |
|
Decrease (Increase) in Deferred Tax Assets |
-9,106.00 |
-18,595.00 |
|
Increase (Decrease) in Notes Payable |
1,942.00 |
0.00 |
|
Increase (Decrease) in Accounts Payable |
15,590.00 |
24.00 |
|
Increase (Decrease) in Accounts Payable -
Related Parties |
-64,085.00 |
-112,652.00 |
|
Increase (Decrease) in Accrued Expenses |
-159.00 |
-4,773.00 |
|
Increase (Decrease) in Other Payables |
-1,498.00 |
1,666.00 |
|
Increase (Decrease) in Receipts in Advance |
-295.00 |
247.00 |
|
Increase (Decrease) in Accrued Pension
Liabilities |
969.00 |
-481.00 |
|
Net Cash Provided by (Used in) Operating
Activities |
-46,271.00 |
17,129.00 |
|
Cash Flows from Investing Activities |
|
|
|
Acquisition of Subsidiaries |
-143,641.00 |
-23,669.00 |
|
Proceeds from Capital Reduction of Investments
Accounted for under Equity Method |
771,308.00 |
0.00 |
|
Purchase of Property, Plant and Equipment |
-4,020.00 |
-1,574.00 |
|
Increase in Deferred Charges |
-1,320.00 |
-1,042.00 |
|
Decrease (Increase) in Other Receivables -
Related Parties |
0.00 |
232,640.00 |
|
Purchase of Intangible Assets |
-198,859.00 |
0.00 |
|
Decrease (Increase) in Other Financial
Assets |
19,156.00 |
12,437.00 |
|
Net Cash Provided by (Used in) Investing
Activities |
442,624.00 |
218,792.00 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in Short-term Loans |
-215,000.00 |
220,000.00 |
|
Increase (Decrease) in Guarantee Deposits
Received |
-826.00 |
1,532.00 |
|
Cash Dividends Paid |
0.00 |
-31,714.00 |
|
Purchase of Treasury Stock |
-40,653.00 |
-434,380.00 |
|
Net Cash Provided by (Used in) Financing
Activities |
-256,479.00 |
-244,562.00 |
|
Net Increase (Decrease) in Cash and Cash
Equivalents |
139,874.00 |
-8,641.00 |
|
Cash and Cash Equivalents, Beginning of
year |
210,216.00 |
218,857.00 |
|
Cash and Cash Equivalents, End of year |
350,090.00 |
210,216.00 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid- Excluding Capitalized
Interest |
16,806.00 |
8,626.00 |
Subject declined to disclose its bank details; from other source we cannot obtain the relevant information, either.
Mortgage
No chattel mortgage record of subject has been found within the recent 3
months.
Lawsuit
Up to date of reporting,
no existing or latent litigation of the subject has been found.
|
Name |
Ms. Liu |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.16 |
|
UK Pound |
1 |
Rs.83.88 |
|
Euro |
1 |
Rs.70.99 |
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.