|
Report Date : |
16.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
ZIG SHENG INDUSTRIAL CO., LTD. |
|
|
|
|
Registered Office : |
No.60, Dongwanshou Rd., Xinling Vil.,
Gueishan Township, Taoyuan County 33355 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
18.08.1969 |
|
|
|
|
Com. Reg. No.: |
43295237 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and sale of fibers including nylon chips, PA compound, nylon filament,
nylon, PET DTY |
|
|
|
|
No. of Employees : |
About 1,300 Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
|
With Financials |
|
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 |
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
2F., No.70, Xining North Road., Datong
District, Taipei City 10342, Taiwan |
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-2555-7151 |
|
Fax Number: |
|
|
E-mail: |
|
|
|
|
Notes: The exact name and address are as above.
|
Credit Opinion: |
|
Registered Name: |
Zig Sheng Industrial Co., Ltd. |
|
Registered Address: |
No.60, Dongwanshou Rd., Xinling Vil.,
Gueishan Township, Taoyuan County 33355, Taiwan (R.O.C.) |
|
Date of Foundation: |
1969-8-18 |
|
Registration Number: |
43295237 |
|
Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C. |
|
Registered Capital: |
NTD 8,000,000,000
(USD 272,000,000) (As of 2013.10, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 6,117,633,800 (USD 207,999,549) |
|
Legal Representatives: |
Shoutun Ye |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject was incorporated on 1969-8-18 with registered number 43295237 as Joint Stock Company in Taiwan.
Subject listed on Taiwan Stock Exchange on 1993-10-7.
|
Name |
Subscription Shares |
|
Shoutun Ye |
25,492,945 |
|
Baihuang Su |
|
|
49,260,455 |
|
|
Baicheng Su |
524,885 |
|
Zonghao Ye |
12,492,312 |
|
Yisheng You |
1,572,851 |
|
Qinglang You |
16,204,851 |
|
Yi Sheng Investment Co., Ltd. (Literal
Translation) |
16,888,237 |
The information above is that of subject’s major shareholders.
Factories
|
1 |
|
|
Name: |
Dayuan Factory |
|
Address: |
No.17, Dagong Road, Beigang Village, Dayuan
Township, Taoyuan County, Taiwan |
|
Date of Registration: |
2011-11-18 |
|
Factory Registration Number: |
03000780 |
|
Factory Manager: |
Shoutun Ye |
|
Status: |
In Production |
|
Date of Last Annual Return: |
-- |
|
Major Products: |
Spinning |
|
2 |
|
|
Name: |
The 3rd Factory |
|
Address: |
No.506, Sec 1, Chenggong Road, Caota Village, Guanyin Township,
Taoyuan County, Taiwan |
|
Date of Foundation: |
1996-11-1 |
|
Date of Registration: |
1997-5-12 |
|
Factory Registration Number: |
99621866 |
|
Factory Manager: |
Shoutun Ye |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2004-6-30 |
|
Major Products: |
111 Spinning 185 Artificial
fiber 184 Synthetic resin, plastic and rubber |
|
3 |
|
|
Name: |
Guanyin Factory |
|
Address: |
No.522, Sec 1, Chenggong Road, Guanyin Industrial Park, Guanyin
Township, Taoyuan County, Taiwan |
|
Date of Foundation: |
1987-9-1 |
|
Date of Registration: |
1993-5-11 |
|
Factory Registration Number: |
99621931 |
|
Factory Manager: |
Shoutun Ye |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2011-3-23 |
|
Major Products: |
111 Spinning 184 Synthetic resin, plastic and rubber |
|
4 |
|
|
Name: |
Guishan Factory |
|
Address: |
No.60 & 61-1, Dongwanshou Rd., Xinling Vil., Gueishan Township,
Taoyuan County 33355, Taiwan (R.O.C.) |
|
Date of Foundation: |
1969-1-1 |
|
Date of Registration: |
1970-1-1 |
|
Factory Registration Number: |
99622071 |
|
Factory Manager: |
Shoutun Ye |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2011-3-28 |
|
Major Products: |
185 Artificial fiber |
Related Companies
|
Registered Name: |
Yi Sheng Investment Co., Ltd. (Literal Translation) |
|
Registered Address: |
3rd Floor, No.70, Xining North Road, Datong District,
Taipei City, Taiwan, R.O.C. |
|
Date of Foundation: |
1986-10-23 |
|
Registration Number: |
22266475 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 195,000,000 (USD 6,630,000) (As of 2013.10, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 195,000,000 (USD 6,630,000) |
|
Legal Representatives: |
Qingyuan Su |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2013-6-26 |
Core
Management
|
1 |
|
|
Name |
Shoutun Ye |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Baihuang Su |
|
Position |
Director/ Manager |
|
Date of Appointment |
2004-5-27 |
|
3 |
|
|
Name |
Baicheng Su |
|
Position |
Director |
|
4 |
|
|
Name |
Zonghao Ye |
|
Position |
Director |
|
5 |
|
|
Name |
Yisheng You |
|
Position |
Director |
|
6 |
|
|
Name |
Qinglang You |
|
Position |
Supervisor |
|
7 |
|
|
Name |
Yi Sheng Investment Co., Ltd. (Literal Translation) |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 1,300 Employees |
Offices
& Factories
|
|
Headquarters |
|
Add |
2F., No.70, Xining North Road., Datong
District, Taipei City 10342, Taiwan |
l
Subject is engaged in manufacturing of fibers.
l
Subject has factories in Taiwan for production and the
annual production capacities are as follows for reference.
|
Product |
Annual Production Capacity |
|
Nylon Chips (Spinning Grade) |
120,000 metric tons |
|
Nylon Chips (Engineering Plastic Grade) |
30,000 metric tons |
|
Composite Materials |
7,000 metric tons |
|
Nylon Filament |
72,000 metric tons |
|
Nylon/ Polyester Textured Yarn |
57,000 metric tons |
l
Subject obtained the certifications of ISO 9001,
OHSAS18000 and TS 16949, etc.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Agent, price quoting, bidding service,
manufacturing, processing, dyeing, printing, import and export of all kinds
of cellosilk, artificial cotton silk, nylon yarn |
|
-- |
Manufacturing and trading of Petroleum
chemical fiber raw material |
|
-- |
Manufacturing and trading of PET bottle
and polyester film |
|
ZZ99999 |
Besides licensed
business, all other business items those are not banned or restricted. |
l
The raw materials for
production are purchased from both home and abroad such as Mainland China and
Southeast Asia, etc.
l
Subject is engaged in sale of fibers.
l
The major products sold by subject include nylon
chips, PA compound, nylon filament, nylon, PET DTY.
l
Subject’s sales regions include domestic market,
other Asian countries, Europe and America, etc.
l
Subject’s major customers are Apex Mills Inc (USA)
and Corbeta S.A (Colombia), etc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Raw
materials |
Cash,
T/T, Interior Settlement, etc |
100% |
Foreign Purchase
|
Terms |
Proportion |
|
|
Raw
materials |
L/C,
T/T, etc |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Fibers,
etc |
Cash,
T/T, Interior Settlement, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Fibers,
etc |
L/C,
T/T, etc |
100% |
Unit: NTD/000
|
|
2012-12-31 |
2011-12-31 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
128,060.00 |
18,966.00 |
|
Financial assets measured at fair value
through profit or loss - current |
268,997.00 |
390,732.00 |
|
Notes receivable - net |
368,892.00 |
362,611.00 |
|
Notes receivable - related parties - net |
16.00 |
0.00 |
|
Accounts receivable - net |
1,293,070.00 |
1,181,679.00 |
|
Accounts receivable - related parties -
net |
122,164.00 |
74,216.00 |
|
Other receivables |
58,993.00 |
78,009.00 |
|
Other receivables - related parties |
5.00 |
0.00 |
|
Inventories |
3,383,873.00 |
3,750,869.00 |
|
Other prepayments |
15,776.00 |
12,409.00 |
|
Other current assets |
23,732.00 |
153,390.00 |
|
Current assets |
5,663,578.00 |
6,022,881.00 |
|
Funds and Investments |
|
|
|
Financial assets carried at cost - non
current |
166,222.00 |
151,222.00 |
|
Funds and long-term investments |
166,222.00 |
151,222.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
1,561,421.00 |
1,561,421.00 |
|
Buildings and structures |
2,829,968.00 |
2,696,398.00 |
|
Machinery and equipment |
7,804,074.00 |
7,002,404.00 |
|
Transportation equipment |
71,091.00 |
68,771.00 |
|
Other facilities |
179,079.00 |
160,549.00 |
|
Revaluation increment |
480,571.00 |
480,571.00 |
|
Cost and revaluation increment |
12,926,204.00 |
11,970,114.00 |
|
Accumulated depreciation |
-5,863,656.00 |
-5,368,026.00 |
|
Construction in process and prepayment for
equipments |
398,350.00 |
861,744.00 |
|
Fixed assets |
7,460,898.00 |
7,463,832.00 |
|
Intangible Assets |
|
|
|
OtherAssets |
|
|
|
Rental assets |
544,522.00 |
571,717.00 |
|
Guarantee deposits paid |
2,206.00 |
2,951.00 |
|
Deferred charges |
49,356.00 |
43,081.00 |
|
Deferred income tax assets - non current |
134,240.00 |
32,983.00 |
|
Other assets |
730,324.00 |
650,732.00 |
|
Assets |
14,021,022.00 |
14,288,667.00 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowings |
719,323.00 |
2,707,884.00 |
|
Short-term notes and bills payable |
749,493.00 |
749,318.00 |
|
Financial liabilities measured at fair
value through profit or loss - current |
76.00 |
0.00 |
|
Notes payable |
250,818.00 |
218,582.00 |
|
Accounts payable |
1,547,616.00 |
1,211,810.00 |
|
Accounts payable - related parties |
349.00 |
288.00 |
|
Income tax payable |
437.00 |
88,655.00 |
|
Accrued expenses |
262,123.00 |
222,521.00 |
|
Other payables |
91,257.00 |
48,700.00 |
|
Advance receipts |
112,162.00 |
74,026.00 |
|
Other current liabilities |
899.00 |
1,602.00 |
|
Current liabilities |
3,734,553.00 |
5,323,386.00 |
|
Long term Liabilities |
|
|
|
Long-term borrowings |
2,699,339.00 |
2,100,000.00 |
|
Long-term liabilities |
2,699,339.00 |
2,100,000.00 |
|
Reserves |
|
|
|
Reserve for land revaluation increment tax |
137,395.00 |
137,395.00 |
|
Reserves |
137,395.00 |
137,395.00 |
|
Other Liabilities |
|
|
|
Pension reserve / accrued pension
liability |
221,806.00 |
176,005.00 |
|
Guarantee deposits received |
19,335.00 |
19,335.00 |
|
Other liabilities |
241,141.00 |
195,340.00 |
|
Liabilities |
6,812,428.00 |
7,756,121.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
6,057,063.00 |
5,187,092.00 |
|
Capital Surplus |
|
|
|
Capital surplus - additional paid-in
capital |
377,227.00 |
352,927.00 |
|
Capital surplus - treasury stock
transactions |
43,700.00 |
43,700.00 |
|
Capital surplus - long-term equity
investments |
32,107.00 |
32,107.00 |
|
Capital surplus |
453,034.00 |
428,734.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
127,833.00 |
114,575.00 |
|
Special reserve |
4,606.00 |
9,747.00 |
|
Unappropriated retained earnings |
219,927.00 |
446,267.00 |
|
Retained earnings |
352,366.00 |
570,589.00 |
|
Stockholders' Equity and Other adjustment |
|
|
|
Cumulative translation adjustments |
-4,606.00 |
-4,606.00 |
|
Unrealized Revaluation Increment |
350,737.00 |
350,737.00 |
|
Equity adjustments |
346,131.00 |
346,131.00 |
|
Stockholders - equity |
7,208,594.00 (USD ) |
6,532,546.00 (USD ) |
|
Number of treasury stock acquired by the
company and subsidiaries (unit: share) |
0.00 |
0.00 |
|
|
0.00 |
0.00 |
(As of 2013.10, 1 NTD = 0.0340 USD)
Unit: NTD/000
|
|
2012 |
2011 |
|
Sales |
17,040,363.00 (USD 579,372,342.00) |
19,011,967.00 (USD 646,406,878.00) |
|
Sales returns |
16,805.00 |
25,854.00 |
|
Sales discounts and allowances |
26,078.00 |
19,002.00 |
|
Sales |
16,997,480.00 |
18,967,111.00 |
|
Operating income |
16,997,480.00 |
18,967,111.00 |
|
Operating costs |
16,773,769.00 |
18,489,642.00 |
|
Gross profit (loss) from operations |
223,711.00 |
477,469.00 |
|
Selling expense |
245,408.00 |
239,199.00 |
|
General and administrative expenses |
129,722.00 |
91,428.00 |
|
Research and development expenses |
59,783.00 |
74,197.00 |
|
Operating expenses |
434,913.00 |
404,824.00 |
|
Operating income (loss) |
-211,202.00 |
72,645.00 |
|
Non-Operating Income |
|
|
|
Interest income |
80.00 |
42.00 |
|
Dividends |
38,001.00 |
36,413.00 |
|
Investment income |
38,001.00 |
36,413.00 |
|
Gains on disposal of fixed assets |
2,643.00 |
2,671.00 |
|
Gains on sale of investments |
25,642.00 |
30,065.00 |
|
Foreign exchange gains |
11,028.00 |
75,431.00 |
|
Rent income |
51,935.00 |
53,495.00 |
|
Revaluation gain on financial assets |
14,174.00 |
0.00 |
|
Miscellaneous income |
42,138.00 |
42,354.00 |
|
Non-operating revenues and gains |
185,641.00 |
240,471.00 |
|
Non-Operating Expenses |
|
|
|
Interest expense |
62,795.00 |
46,696.00 |
|
Loss on disposal of fixed assets |
4,050.00 |
199.00 |
|
Loss on sale of investments |
0.00 |
0.00 |
|
Foreign exchange losses |
0.00 |
0.00 |
|
Revaluation loss on financial assets |
0.00 |
97,991.00 |
|
Revaluation loss on financial liabilities |
76.00 |
0.00 |
|
Miscellaneous disbursements |
41,057.00 |
37,338.00 |
|
Non-operating expenses and losses |
107,978.00 |
182,224.00 |
|
Income from continuing operations before
income tax |
-133,539.00 |
130,892.00 |
|
Income tax expense (benefit) |
-35,258.00 |
-1,692.00 |
|
Income from continuing operations |
-98,281.00 |
132,584.00 |
|
Net income (loss) |
-98,281.00 (USD -3,341,554.00) |
132,584.00 (USD 4,507,856.00) |
|
Primary Earnings per Share |
|
|
|
Primary earnings per share |
-0.17 |
-0.25 |
|
Diluted earnings per share |
|
|
Unit: NTD/000
|
|
2012 |
2011 |
|
Cash Flows from Operating Activities -
Indirect Method |
|
|
|
Net Income (Loss) |
-98,281.00 |
132,584.00 |
|
Adjustments to Reconcile Net Income to Net
Cash Provided by (Used in) Operating Activities |
|
|
|
Depreciation Expense |
602,808.00 |
483,500.00 |
|
Amortization Expense |
29,101.00 |
21,569.00 |
|
Loss (Gain) on Disposal of Property, Plant
and Equipment |
1,407.00 |
-2,472.00 |
|
Property, Plant and Equipment Transferred
to Expenses |
108,669.00 |
101,491.00 |
|
Loss (Gain) on Disposal of Investments |
-25,642.00 |
-30,065.00 |
|
Unrealized Revaluation Loss (Gain) on
Financial Assets and Liabilities |
-14,098.00 |
97,991.00 |
|
Other Adjustments to Reconcile Net Income |
-486.00 |
-249.00 |
|
Changes in Operating Assets and
Liabilities |
|
|
|
Decrease (Increase) in Notes Receivable |
-6,281.00 |
-39,966.00 |
|
Decrease (Increase) in Notes Receivable -
Related Parties |
-16.00 |
0.00 |
|
Decrease (Increase) in Accounts Receivable |
-111,391.00 |
-5,062.00 |
|
Decrease (Increase) in Accounts Receivable
- Related Parties |
-47,948.00 |
6,156.00 |
|
Decrease (Increase) in Other Receivables |
19,016.00 |
-7,985.00 |
|
Decrease (Increase) in Other Receivable-
Related Parties |
-5.00 |
0.00 |
|
Decrease (Increase) in Inventories |
366,996.00 |
-820,031.00 |
|
Decrease (Increase) in Other Prepayments |
-3,367.00 |
20,764.00 |
|
Decrease (Increase) in Other Current
Assets |
129,658.00 |
-143,584.00 |
|
Decrease (Increase) in Deferred Tax Assets |
-101,257.00 |
-5,546.00 |
|
Increase (Decrease) in Notes Payable |
32,236.00 |
53,752.00 |
|
Increase (Decrease) in Accounts Payable |
335,806.00 |
-314,663.00 |
|
Increase (Decrease) in Accounts Payable -
Related Parties |
61.00 |
22.00 |
|
Increase (Decrease) in Income Tax Payable |
-88,218.00 |
50,090.00 |
|
Increase (Decrease) in Accrued Expenses |
39,602.00 |
-20,920.00 |
|
Increase (Decrease) in Other Payables |
-2,390.00 |
1,848.00 |
|
Increase (Decrease) in Receipts in Advance |
38,136.00 |
-39,758.00 |
|
Increase (Decrease) in Other Current
Liabilities |
-703.00 |
531.00 |
|
Increase (Decrease) in Accrued Pension
Liabilities |
45,801.00 |
27,440.00 |
|
Net Cash Provided by (Used in) Operating
Activities |
1,249,214.00 |
-432,563.00 |
|
Cash Flows from Investing Activities |
|
|
|
Proceeds from Disposal of Financial Assets
as Fair Value through Profit or Loss |
161,551.00 |
-21,463.00 |
|
Acquisition of Financial Assets Carried at
Cost |
-15,000.00 |
-15,000.00 |
|
Purchase of Property, Plant and Equipment |
-646,586.00 |
-2,759,682.00 |
|
Proceeds from Disposal of Property, Plant
and Equipment |
9,709.00 |
5,829.00 |
|
Purchase of Rental Assets |
-931.00 |
-472.00 |
|
Decrease (Increase) in Refundable Deposits |
745.00 |
806.00 |
|
Increase in Deferred Charges |
-35,376.00 |
-32,181.00 |
|
Decrease (Increase) in Other Financial
Assets |
0.00 |
2,413.00 |
|
Net Cash Provided by (Used in) Investing
Activities |
-525,888.00 |
-2,819,750.00 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in Short-term Loans |
-1,988,561.00 |
2,111,884.00 |
|
Repayment of Long-term Debt |
600,000.00 |
1,400,000.00 |
|
Increase (Decrease) in Guarantee Deposits
Received |
0.00 |
621.00 |
|
Cash Dividends Paid |
-59,971.00 |
-293,609.00 |
|
Proceeds from Issuance of Shares |
834,300.00 |
0.00 |
|
Net Cash Provided by (Used in) Financing
Activities |
-614,232.00 |
3,218,896.00 |
|
Net Increase (Decrease) in Cash and Cash
Equivalents |
109,094.00 |
-33,417.00 |
|
Cash and Cash Equivalents, Beginning of
year |
18,966.00 |
52,383.00 |
|
Cash and Cash Equivalents, End of year |
128,060.00 |
18,966.00 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid |
66,261.00 |
48,311.00 |
|
Capitalized Interest |
-2,501.00 |
-2,887.00 |
|
Interest Paid- Excluding Capitalized
Interest |
63,760.00 |
45,424.00 |
|
Income Tax Paid |
81,992.00 |
40,935.00 |
|
Non-cash Investing and Financing
Activities |
|
|
|
Current Portion of Long-term Liabilities |
0.00 |
0.00 |
|
Capital Increase by Earnings
Recapitalization |
59,971.00 |
293,609.00 |
|
Investing Activities Affecting Both Cash
and Non-cash Items |
|
|
|
Cash Paid for Acquisition of Property, Plant
and Equipment |
|
|
|
Increase in Property, Plant and Equipment |
692,132.00 |
2,698,684.00 |
|
Increase (Decrease) in Payable for
Equipment Purchased |
-45,546.00 |
60,998.00 |
|
Cash Paid for Acquisition of Property,
Plant and Equipment |
646,586.00 |
2,759,682.00 |
Subject declined to disclose its bank details; from other source we cannot obtain the relevant information, either.
Mortgage
|
1 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
023024 |
|
Debtor Name: |
Zig Sheng Industrial Co., Ltd. |
|
Document Number: |
035927 |
|
Date of Registration: |
1985-4-2 |
|
Date of Alteration: |
1985-4-2 |
|
Status: |
Pay off |
|
2 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
023200 |
|
Debtor Name: |
Zig Sheng Industrial Co., Ltd. |
|
Document Number: |
039916 |
|
Date of Registration: |
1985-4-30 |
|
Date of Alteration: |
1985-4-30 |
|
Status: |
Pay off |
|
3 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
024108 |
|
Debtor Name: |
Zig Sheng Industrial Co., Ltd. |
|
Document Number: |
315764 |
|
Date of Registration: |
1987-11-4 |
|
Date of Alteration: |
1987-11-4 |
|
Status: |
Pay off |
|
4 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
025679 |
|
Debtor Name: |
Zig Sheng Industrial Co., Ltd. |
|
Document Number: |
315995 |
|
Date of Registration: |
1987-11-13 |
|
Date of Alteration: |
1987-11-13 |
|
Status: |
Pay off |
|
5 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
026925 |
|
Debtor Name: |
Zig Sheng Industrial Co., Ltd. |
|
Document Number: |
315758 |
|
Date of Registration: |
1987-11-4 |
|
Date of Alteration: |
1987-11-4 |
|
Status: |
Pay off |
|
6 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
027571 |
|
Debtor Name: |
Zig Sheng Industrial Co., Ltd. |
|
Document Number: |
315373 |
|
Date of Registration: |
1987-10-17 |
|
Date of Alteration: |
1987-10-17 |
|
Status: |
Pay off |
|
7 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
030583 |
|
Debtor Name: |
Zig Sheng Industrial Co., Ltd. |
|
Document Number: |
199341 |
|
Date of Registration: |
1988-5-26 |
|
Date of Alteration: |
1988-5-26 |
|
Status: |
Pay off |
|
8 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
042450 |
|
Debtor Name: |
Zig Sheng Industrial Co., Ltd. |
|
Document Number: |
098512 |
|
Date of Registration: |
1993-5-20 |
|
Date of Alteration: |
-- |
|
Status: |
Pay off |
|
9 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
049029 |
|
Debtor Name: |
Zig Sheng Industrial Co., Ltd. |
|
Document Number: |
247838 |
|
Date of Registration: |
1995-9-26 |
|
Date of Alteration: |
-- |
|
Status: |
Pay off |
|
10 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
061162 |
|
Debtor Name: |
Zig Sheng Industrial Co., Ltd. |
|
Document Number: |
852320 |
|
Date of Registration: |
1999-3-4 |
|
Date of Alteration: |
-- |
|
Status: |
Pay off |
|
11 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
068070 |
|
Debtor Name: |
Zig Sheng Industrial Co., Ltd. |
|
Document Number: |
577501 |
|
Date of Registration: |
2000-10-25 |
|
Date of Alteration: |
-- |
|
Status: |
Pay off |
|
12 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
087622 |
|
Debtor Name: |
Zig Sheng Industrial Co., Ltd. |
|
Document Number: |
09505126230 |
|
Date of Registration: |
2006-6-19 |
|
Date of Alteration: |
-- |
|
Status: |
Pay off |
|
13 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
092608 |
|
Debtor Name: |
Zig Sheng Industrial Co., Ltd. |
|
Document Number: |
09605177740 |
|
Date of Registration: |
2007-11-15 |
|
Date of Alteration: |
-- |
|
Status: |
Pay off |
Lawsuit
|
1 |
|
|
2008, Taojiansheng, 4 |
|
|
Date of Trial: |
2008-3-20 |
|
Reason: |
Service of notice by publication |
|
Plaintiff: |
Zig Sheng Industrial Co., Ltd. |
|
Defendant: |
Kelun Industrial Co., Ltd. (Literal
Translation) |
|
2 |
|
|
Trial Number: |
2008, Taojiansheng, 4 |
|
Date of Trial: |
2008-1-8 |
|
Reason: |
Service of notice by publication |
|
Plaintiff: |
Zig Sheng Industrial Co., Ltd. |
|
Defendant: |
Kelun Industrial Co., Ltd. (Literal
Translation) |
|
Name |
Ms. Liu |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.69 |
|
UK Pound |
1 |
Rs.98.59 |
|
Euro |
1 |
Rs.83.67 |
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.