|
Report Date : |
03.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
HOME CHAIN FOODS, LTD |
|
|
|
|
Registered Office : |
8F-4., No.312, Sec. 4, Zhongxiao E. Rd., Da'an Dist., Taipei City, |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
17.05.1989 |
|
|
|
|
Com. Reg. No.: |
23309178 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Subject is providing the food and beverage-service. |
|
|
|
|
No. of Employees : |
640 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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. Taiwan's diplomatic isolation, low birth rate, and rapidly aging population are other major long-term challenges. Free trade agreements have proliferated in East Asia over the past several years, and following the landmark Economic Cooperation Framework Agreement (ECFA) signed with China in June 2010, Taiwan in July 2013 signed a free trade deal with New Zealand—Taipei’s first-ever with a country with which it does not maintain diplomatic relations—and in November inked a trade pact with Singapore. Negotiations continue on follow-on components of ECFA regarding trade in goods and a dispute resolution mechanism; a trade in services agreement is under review in the legislature. 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 overall trade surplus largely because of its surplus with China, and its foreign reserves are the world's sixth largest, behind China, Japan, Saudi Arabia, Russia, and Switzerland. 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. Taiwan since 2009 has gradually loosened rules governing Chinese investment on the island, and has also secured greater market access for its investors in the mainland. 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: |
8F., No.20, Wenhu St., Neihu Dist., Taipei City, Taiwan (R.O.C.) |
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-265-8111 |
Notes: The exact name and address are as
above.
|
Registered Name: |
HOME CHAIN FOODS,
LTD |
|
Registered Address: |
8F-4., No.312, Sec. 4, Zhongxiao E. Rd., Da'an Dist., Taipei City, Taiwan (R.O.C.) |
|
Date of Foundation: |
1989-5-17 |
|
Registration Number: |
23309178 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 220,000,000 (USD 7,282,000) (As of 2014.4, 1 NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 132,941,390 (USD 4,400,360) |
|
Legal Representatives: |
Jiayu Hang |
|
Legal Form: |
|
|
Principal Activities: |
Providing the food and beverage-service and etc. |
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject was incorporated on 1989-5-17 with registered number 23309178 as Joint Stock Company in Taiwan.
|
Name |
Subscription Shares |
|
Great Wall Enterprise Co., Ltd. |
9,305,897 |
|
Bk Asiapac, Pte. Ltd. |
|
|
3,988,242 |
The information above is that of subject’s major shareholders.
Shareholder
Information:
|
Registered Name: |
Great Wall Enterprise Co., Ltd. |
|
Registered Address: |
3, Niao Sung 2nd., St., Yongkang Dist., Tainan City 710, Taiwan (R.O.C.) |
|
Date of Foundation: |
1960-12-28 |
|
Registration Number: |
73008303 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C |
|
Registered Capital: |
NTD 6,000,000,000 (USD 198,600,000) (As of 2014.4, 1 NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 5,664,572,150 (USD 187,497,338) |
|
Legal Representatives: |
Jiayu Han |
|
Legal Form: |
Joint Stock Company |
|
Staff: |
About 1,400 Employees |
|
Listed at Stock Exchange: |
Yes; (Public, TPE: 1210) |
|
Date of Last Annual Return: |
2013-6-26 |
|
Tel |
+886-6-253-1111 |
|
Fax |
+886-6-2531686 |
Parent Company
|
Registered Name: |
Great Wall Enterprise Co., Ltd. |
|
Registered Address: |
3, Niao Sung 2nd., St., Yongkang Dist., Tainan City 710, Taiwan (R.O.C.) |
|
Date of Foundation: |
1960-12-28 |
|
Registration Number: |
73008303 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C |
|
Registered Capital: |
NTD 6,000,000,000 (USD 198,600,000) (As of 2014.4, 1 NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 5,664,572,150 (USD 187,497,338) |
|
Legal Representatives: |
Jiayu Han |
|
Legal Form: |
Joint Stock Company |
|
Staff: |
About 1,400 Employees |
|
Listed at Stock Exchange: |
Yes; (Public, TPE: 1210) |
|
Date of Last Annual Return: |
2013-6-26 |
|
Tel |
+886-6-253-1111 |
|
Fax |
+886-6-2531686 |
Brach Companies
|
|
Registration Number |
Name |
Date of Registration |
Date of Last Annual Return |
|
1 |
54686598 |
Dahu Branch |
2014-3-26 |
|
|
2 |
25136320 |
Changchun Branch |
2010-6-9 |
|
|
3 |
25105261 |
Zhongshan Branch |
2010-2-12 |
|
|
4 |
24332042 |
Zhongxiao Branch |
2009-3-18 |
|
|
5 |
24310103 |
Linsen Branch |
2008-11-26 |
|
|
6 |
29059351 |
Shida Branch |
2008-9-11 |
|
|
7 |
27967341 |
Huaining -Branch |
2005-11-4 |
|
|
8 |
16130578 |
Zhuke Branch |
1999-6-17 |
|
|
9 |
16837770 |
Bade- Branch |
1999-3-6 |
|
|
10 |
16833599 |
Bade Branch |
1999-1-7 |
|
|
11 |
97174391 |
Dunnan Branch |
1997-1-22 |
1997-1-22 |
|
12 |
84899318 |
Huaining Branch |
1994-11-23 |
1994-11-23 |
|
13 |
84892379 |
Xinyi Branch |
1994-5-2 |
1994-8-15 |
Core Management
Directors
|
1 |
|
|
Name |
Jiayu Han |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Jiayin Han |
|
Position |
Director |
|
3 |
|
|
Name |
Weixi Li |
|
Position |
Director |
|
4 |
|
|
Name |
Shuheng Zhou |
|
Position |
Director |
|
5 |
|
|
Name |
Jayapal Seshadri |
|
Position |
Director |
|
6 |
|
|
Name |
David Chan Shear |
|
Position |
Director |
|
7 |
|
|
Name |
Xuemin Wu |
|
Position |
Supervisor |
|
8 |
|
|
Name |
Michael H. Ferranti |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
About 640 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
8F., No.20, Wenhu St., Neihu Dist., Taipei City, Taiwan (R.O.C.) |
Operation Information
Subject is a provider of food and beverage-service and etc.
The subject is mainly engaged in operating chain restaurants.
It is introduced that subject has 29 chain restaurants covering Taiwan.
It is introduced that subject’s selling territory is mainly in Taiwan domestic market.
It is introduced that subject’s major customers are direct customers and etc.
It is introduced that subject’s the agent of the famous chain restaurants named “Burger King”.
The registered activities of subject:
|
Business Code |
Details |
|
-- |
General importing and exporting business (Besides licensed business) |
|
-- |
Processing, transporting, importing and exporting of varied foods, agricultural products, animal by-products, aquatic and seawater products and drinks. |
|
-- |
Processing, manufacturing, trading, importing and exporting of hamburg, fried chicken, bread, cake, food container, fast food, canned food, candies, cookies, soda water, juice, coffee and tea. |
|
-- |
Trading, importing and exporting of toys, present, garment, paper products, book and magazines, hardware and machinery. |
|
-- |
Operation of restaurants, snack food industry, eating and drinking establishment and café. |
|
-- |
Agent of domestic and overseas manufacturers’ bidding and marking prices for the above related products. |
|
-- |
Interior designing engineering project services. (Besides homebuilding) (Besides architect business) |
|
-- |
Operating the enterprise, advisory, diagnosis and analysis of financial management. (Besides accountants business) (Besides securities investment consultant) |
|
ZZ99999 |
Besides licensed business, all other business items those are not banned or restricted. |
Subject has no obligations to disclose its financial statements to the third party according to the relevant policy in Taiwan and the only source from which we can obtain the information is the subject itself.
We found the consolidated financial information of subject’s parent company (Great Wall Enterprise Co., Ltd.) from public files for reference.
Consolidated Balance Sheet
Unit: NTD/000
|
Date |
2012-12-31 |
2011-12-31 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
3,879,324.00 |
3,879,963.00 |
|
Financial assets measured at fair value through profit or loss - current |
18,262.00 |
219,269.00 |
|
Notes receivable - net |
1,425,822.00 |
1,408,388.00 |
|
Accounts receivable - net |
4,346,466.00 |
4,385,100.00 |
|
Other receivables - related parties |
21,780.00 |
18.00 |
|
Other financial assets - current |
113,002.00 |
182,569.00 |
|
Inventories |
8,655,394.00 |
8,049,093.00 |
|
Other current assets |
1,945,822.00 |
1,903,452.00 |
|
Current assets |
20,405,872.00 |
20,027,852.00 |
|
Funds and Investments |
|
|
|
Available-for-sale financial assets - non current |
1,126,059.00 |
1,032,265.00 |
|
Financial assets carried at cost - non current |
110,373.00 |
118,644.00 |
|
Equity investments under equity method |
821,842.00 |
644,332.00 |
|
Investments |
821,842.00 |
644,332.00 |
|
Funds and long-term investments |
2,058,274.00 |
1,795,241.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
1,192,415.00 |
1,191,334.00 |
|
Buildings and structures |
2,587,642.00 |
2,518,392.00 |
|
Machinery and equipment |
10,547,175.00 |
10,060,560.00 |
|
Transportation equipment |
313,261.00 |
286,322.00 |
|
Leased assets |
29,457.00 |
29,457.00 |
|
Leasehold improvements |
259,377.00 |
68,742.00 |
|
Other facilities |
2,873,806.00 |
2,673,730.00 |
|
Revaluation increment |
158,927.00 |
158,927.00 |
|
Cost and revaluation increment |
17,962,060.00 |
16,987,464.00 |
|
Accumulated depreciation |
-8,601,495.00 |
-7,899,766.00 |
|
Accumulated impairment - fixed assets |
-75,129.00 |
-65,406.00 |
|
Construction in process and prepayment for equipments |
1,426,613.00 |
618,864.00 |
|
Fixed assets |
10,712,049.00 |
9,641,156.00 |
|
Intangible Assets |
|
|
|
Goodwill |
138,612.00 |
141,791.00 |
|
Deferred pension cost |
2,471.00 |
3,031.00 |
|
Other intangible assets |
833,136.00 |
718,535.00 |
|
Intangible assets |
974,219.00 |
863,357.00 |
|
OtherAssets |
|
|
|
Rental assets |
298,392.00 |
154,731.00 |
|
Idled assets |
15,019.00 |
162,204.00 |
|
Deferred income tax assets - non current |
127,488.00 |
135,419.00 |
|
Other assets - other |
264,806.00 |
153,908.00 |
|
Other assets |
705,705.00 |
606,262.00 |
|
Assets |
34,856,119.00 |
32,933,868.00 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowings |
6,854,628.00 |
5,996,711.00 |
|
Short-term notes and bills payable |
465,663.00 |
249,889.00 |
|
Financial liabilities measured at fair value through profit or loss - current |
20,988.00 |
546.00 |
|
Notes payable |
134,423.00 |
201,311.00 |
|
Accounts payable |
4,583,595.00 |
4,898,931.00 |
|
Income tax payable |
153,040.00 |
181,145.00 |
|
Accrued expenses |
1,378,208.00 |
1,376,526.00 |
|
Long-term liabilities - current portion |
253,736.00 |
718,660.00 |
|
Other current liabilities |
1,105,398.00 |
1,228,813.00 |
|
Current liabilities |
14,949,679.00 |
14,852,532.00 |
|
Long term Liabilities |
|
|
|
Long-term borrowings |
2,769,021.00 |
1,091,498.00 |
|
Long-term liabilities |
2,769,021.00 |
1,091,498.00 |
|
Reserves |
|
|
|
Reserve for land revaluation increment tax |
20,754.00 |
20,754.00 |
|
Reserves |
20,754.00 |
20,754.00 |
|
Other Liabilities |
|
|
|
Pension reserve / accrued pension liability |
60,046.00 |
95,312.00 |
|
Guarantee deposits received |
62,456.00 |
202,542.00 |
|
Other liabilities - other |
68,110.00 |
74,017.00 |
|
Other liabilities |
190,612.00 |
371,871.00 |
|
Liabilities |
17,930,066.00 |
16,336,655.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
5,664,572.00 |
5,247,491.00 |
|
Capital Surplus |
|
|
|
Capital surplus - additional paid-in capital |
589,396.00 |
293,398.00 |
|
Capital surplus - treasury stock transactions |
766,356.00 |
720,268.00 |
|
Capital surplus - long-term equity investments |
910,230.00 |
910,528.00 |
|
Capital surplus - stock option |
0.00 |
54,097.00 |
|
Capital surplus - other |
19,235.00 |
1,901.00 |
|
Capital surplus |
2,285,217.00 |
1,980,192.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
1,195,374.00 |
1,088,269.00 |
|
Unappropriated retained earnings |
1,718,260.00 |
1,983,436.00 |
|
Retained earnings |
2,913,634.00 |
3,071,705.00 |
|
Stockholders' Equity and Other adjustmen |
|
|
|
Cumulative translation adjustments |
3,627.00 |
246,723.00 |
|
Net loss not recognized as pension cost |
-265,013.00 |
-285,310.00 |
|
Unrealized gains (losses) on financial instruments |
855,447.00 |
761,639.00 |
|
Unrealized Revaluation Increment |
81,995.00 |
81,995.00 |
|
Treasure stock |
-218,792.00 |
-218,792.00 |
|
Equity adjustments |
457,264.00 |
586,255.00 |
|
Total Stockholders' Equities of Parent Company |
11,320,687.00 |
10,885,643.00 |
|
Minority interest |
5,605,366.00 |
5,711,570.00 |
|
Stockholders’ equity |
16,926,053.00 (USD 560,252,354.30) |
16,597,213.00 (USD 549,367,750.30) |
|
Number of treasury stock acquired by the company and subsidiaries (unit: share) |
40,688,225.00 |
38,767,909.00 |
|
|
0.00 |
0.00 |
(As of 2014.4, 1 NTD = 0.0331 USD)
CONSOLIDATED PROFIT AND LOSS ACCOUNT
Unit: NTD/000
|
Date |
2012 |
2011 |
|
Sales |
90,956,323.00 (USD 3,010,654,291.30) |
87,427,044.00 (USD 2,893,835,156.40) |
|
Sales discounts and allowances |
3,433,724.00 |
3,364,354.00 |
|
Sales |
87,522,599.00 |
84,062,690.00 |
|
Operating income |
87,522,599.00 |
84,062,690.00 |
|
Operating costs |
80,575,116.00 |
76,570,574.00 |
|
Gross profit (loss) from operations |
6,947,483.00 |
7,492,116.00 |
|
Selling expense |
5,784,025.00 |
5,637,899.00 |
|
Research and development expenses |
30,945.00 |
32,116.00 |
|
Operating expenses |
5,814,970.00 |
5,670,015.00 |
|
Operating income (loss) |
1,132,513.00 |
1,822,101.00 |
|
Non-Operating Income |
|
|
|
Interest income |
21,639.00 |
21,414.00 |
|
Inome from long-term equity investments under the equity method |
11,500.00 |
0.00 |
|
Dividends |
69,182.00 |
77,266.00 |
|
Investment income |
80,682.00 |
77,266.00 |
|
Foreign exchange gains |
235,298.00 |
0.00 |
|
Reversal of impairment loss on assets |
0.00 |
51,975.00 |
|
Revaluation gain on financial liabilities |
0.00 |
93,960.00 |
|
Miscellaneous income |
359,849.00 |
390,272.00 |
|
Non-operating revenues and gains |
697,468.00 |
634,887.00 |
|
Non-Operating Expenses |
|
|
|
Interest expense |
206,380.00 |
162,252.00 |
|
Losses from long-term equity investments under the equity method |
0.00 |
15,418.00 |
|
Investment loss |
0.00 |
15,418.00 |
|
Foreign exchange losses |
0.00 |
109,804.00 |
|
Impairment loss on assets |
8,939.00 |
0.00 |
|
Revaluation loss on financial assets |
135,092.00 |
0.00 |
|
Miscellaneous disbursements |
118,316.00 |
90,097.00 |
|
Non-operating expenses and losses |
468,727.00 |
377,571.00 |
|
Income from continuing operations before income tax |
1,361,254.00 |
2,079,417.00 |
|
Income tax expense (benefit) |
253,969.00 |
305,213.00 |
|
Income from continuing operations |
1,107,285.00 |
1,774,204.00 |
|
Consolidated net income attributable to parent company |
734,003.00 |
1,071,050.00 |
|
Minority interest income |
373,282.00 |
703,154.00 |
|
Consolidated net income |
1,107,285.00 |
1,774,204.00 |
|
Primary Earnings per Share |
|
|
|
Primary earnings per share |
1.43 |
2.22 |
|
Diluted earnings per share |
|
|
(As of 2014.4, 1 NTD = 0.0331 USD)
Consolidated Cash Flow
Unit: NTD/000
|
Date |
2012 |
2011 |
|
Cash Flows from Operating Activities - Indirect Method |
|
|
|
Consolidated Net Income (Loss) |
1,107,285.00 |
1,774,204.00 |
|
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in) Operating Activities |
|
|
|
Depreciation Expense |
1,100,923.00 |
981,241.00 |
|
Amortization Expense |
48,638.00 |
39,529.00 |
|
Provision (Reversal of Provision) for Bad Debt Expense |
-10,576.00 |
-13,416.00 |
|
Amortization of Discounts (Premiums) on Bonds Payable |
9,577.00 |
14,884.00 |
|
Loss (Gain) on Decline (Recovery) in Market Value, Scrap and Obsolescence of Inventories |
63,610.00 |
6,664.00 |
|
Investment Loss (Income) Recognized under Equity Method |
-11,500.00 |
1,048.00 |
|
Cash Dividends Received from Investments Accounted for under Equity Method |
0.00 |
15,418.00 |
|
Loss (Gain) on Disposal of Property, Plan and Equipment |
29,287.00 |
-42,310.00 |
|
Loss (Gain) on Disposal of Investments |
-6,402.00 |
-7,651.00 |
|
Unrealized Revaluation Loss (Gain) on Financial Assets and Liabilities |
33,564.00 |
-80,180.00 |
|
Unrealized Exchange Loss (Gain) |
128,080.00 |
115,580.00 |
|
Other Adjustments to Reconcile Net Income |
8,939.00 |
-51,975.00 |
|
Changes in Operating Assets and Liabilities |
|
|
|
Decrease (Increase) in Financial Assets Held for Trading |
194,689.00 |
-181,796.00 |
|
Decrease (Increase) in Notes Receivable |
-15,110.00 |
-334,464.00 |
|
Decrease (Increase) in Notes Receivable - Related Parties |
-2,324.00 |
-2,040.00 |
|
Decrease (Increase) in Accounts Receivable |
-144,033.00 |
-274,759.00 |
|
Decrease (Increase) in Accounts Receivable - Related Parties |
193,243.00 |
-242,245.00 |
|
Decrease (Increase) in Inventories |
-669,911.00 |
-1,276,582.00 |
|
Decrease (Increase) in Other Current Assets |
-64,207.00 |
-349,424.00 |
|
Decrease (Increase) in Other Financial Assets |
69,567.00 |
174,563.00 |
|
Decrease (Increase) in Deferred Tax Assets |
29,768.00 |
8,105.00 |
|
Increase (Decrease) in Financial Liabilities Held for Trading |
-402.00 |
402.00 |
|
Increase (Decrease) in Notes Payable |
-66,888.00 |
-19,883.00 |
|
Increase (Decrease) in Notes Payable - Related Parties |
0.00 |
0.00 |
|
Increase (Decrease) in Accounts Payable |
-384,658.00 |
550,697.00 |
|
Increase (Decrease) in Accounts Payable - Related Parties |
69,322.00 |
54,197.00 |
|
Increase (Decrease) in Income Tax Payable |
-28,105.00 |
-52,514.00 |
|
Increase (Decrease) in Accrued Expenses |
1,682.00 |
279,939.00 |
|
Increase (Decrease) in Other Current Liabilities |
-123,415.00 |
354,841.00 |
|
Increase (Decrease) in Other Operating Liabilities |
-20,316.00 |
-118,283.00 |
|
Net Cash Provided by (Used in) Operating Activities |
1,540,327.00 |
1,323,790.00 |
|
Cash Flows from Investing Activities |
|
|
|
Acquisition of Available-for-sale Financial Assets |
0.00 |
7,973.00 |
|
Capital Reduction of Financial Assets Carried at Cost |
10,186.00 |
15,058.00 |
|
Acquisition of Long-term Investments under Equity Method |
-183,220.00 |
-90,043.00 |
|
Purchase of Property, Plant and Equipment |
-2,378,458.00 |
-1,708,189.00 |
|
Decrease (Increase) in Other Receivables - Related Parties |
-21,762.00 |
115,191.00 |
|
Purchase of Intangible Assets |
-171,489.00 |
-127,525.00 |
|
Decrease (Increase) in Other Assets |
-136,150.00 |
-9,060.00 |
|
Net Cash Provided by (Used in) Investing Activities |
-2,880,893.00 |
-1,796,595.00 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in Short-term Loans |
945,611.00 |
1,305,976.00 |
|
Proceeds from Long-term Debt |
1,616,964.00 |
458,826.00 |
|
Increase (Decrease) in Guarantee Deposits Received |
-140,086.00 |
149,446.00 |
|
Cash Dividends Paid |
-629,699.00 |
-593,602.00 |
|
Changes in Minority Interest |
-479,486.00 |
197,935.00 |
|
Net Cash Provided by (Used in) Financing Activities |
1,313,304.00 |
1,518,581.00 |
|
Effect of Exchange Rate Changes |
26,623.00 |
44,130.00 |
|
Net Increase (Decrease) in Cash and Cash Equivalents |
-639.00 |
1,089,906.00 |
|
Cash and Cash Equivalents, Beginning of year |
3,879,963.00 |
2,790,057.00 |
|
Cash and Cash Equivalents, End of year |
3,879,324.00 |
3,879,963.00 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid |
183,101.00 |
165,653.00 |
|
Capitalized Interest |
-3,537.00 |
-2,333.00 |
|
Interest Paid- Excluding Capitalized Interest |
179,564.00 |
163,320.00 |
|
Income Tax Paid |
239,191.00 |
202,734.00 |
|
Non-cash Investing and Financing Activities |
|
|
|
Current Portion of Long-term Liabilities |
253,736.00 |
718,660.00 |
|
Conversion of Bonds to Common Stock |
413,941.00 |
160,389.00 |
|
Unrealized Valuation Gains or Losses on Financial Instruments |
93,808.00 |
76,949.00 |
|
Cumulative Translation Adjustments |
-243,096.00 |
371,814.00 |
|
Adjustments to Capital Surplus due to Changes in Equities of Long-term Investments under Equity Method |
-298.00 |
47.00 |
|
Changes in Equity of Long-term Investment under Equity Method |
46,088.00 |
43,855.00 |
|
Others |
20,297.00 |
64,076.00 |
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 |
The operator |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.65 |
|
|
1 |
Rs.99.21 |
|
Euro |
1 |
Rs.82.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.