|
Report Date : |
09.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
TSRC CORPORATION |
|
|
|
|
Registered Office : |
18F, No.95, Sec. 2, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
22.11.1973 |
|
|
|
|
Com. Reg. No.: |
3553737 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and sales of rubber products |
|
|
|
|
No of Employees : |
About 1,456 Employees (As of 2014-2-28) |
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 : |
Exist |
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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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: |
|
|
Former Name: |
Taiwan Synthetic Rubber Corporation |
|
Supplied Name: |
|
|
Trading Address: |
18F, No.95, Sec. 2, Dun Hua S. Road, Taipei
106, Taiwan, R.O.C. |
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-3701-6000 |
|
Fax Number: |
Notes: The exact name and address are as above.
|
Credit Opinion: |
|
|
Risk Analysis: |
Very good creditworthiness |
Subject was incorporated on 1973-11-22 with registered number 03553737 as Joint Stock Company in Taiwan.
The subject has listed on Taiwan stock exchange on 1982-9-25.
Change of Name
|
Former Chinese Name |
台灣合成橡膠股份有限公司 |
|
Current Chinese Name |
台橡股份有限公司 |
|
Former English Name |
|
|
Current English Name |
TSRC Corporation |
Factories
|
1 |
|
|
Name: |
Kaohsiung Factory |
|
Address: |
No.2 Singgong Rd., Dashe Dist., Kaohsiung City 815, Taiwan R.O.C. |
|
Date of Foundation: |
1977-5-30 |
|
Date of Registration: |
1990-12-31 |
|
Factory Registration Number: |
99662641 |
|
Factory Manager: |
Shouyu Qiu |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2009-9-7 |
|
Major Products: |
184 Synthetic resin, plastic and rubber |
|
Telephone Number |
|
|
Fax Number: |
+886-7-351-4705 |
|
2 |
|
|
Name: |
Gangshan Factory |
|
Address: |
No.39, Bengong 1st Rd., Gangshan Dist., Kaohsiung City 820,
Taiwan, R.O.C. |
|
Date of Registration: |
2005-3-15 |
|
Factory Registration Number: |
99704681 |
|
Factory Manager: |
Zhengde Li |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2013-11-11 |
|
Major Products: |
210 Rubber products |
|
Telephone Number |
+886-7-623-3005 |
|
Fax Number: |
+886-7-622-5481 |
Major Related
Companies
|
1 |
|
|
Name |
Shen Hua Chemical Industrial Co., Ltd. |
|
Address |
No.1 Shen Hua Road, Nantong Economic & Technological Development
Zone, Nantong, Jiangsu, P.R. China |
|
Telephone Number |
+86-513-8359-2662 |
|
Fax Number: |
+86-513-8359-6167 |
|
2 |
|
|
Name |
TSRC (Nantong) Industrial Ltd. |
|
Address |
No.22 TongWang Road, Nantong Economic and Technological Development
Zone, Nantong, Jiangsu, P.R. China |
|
Telephone Number |
|
|
Fax Number: |
+86-513-8599-9999 |
|
3 |
|
|
Name |
TSRC-UBE (Nantong) Chemical Industrial Co., Ltd. |
|
Address |
No.22 TongWang Road, Nantong Economic and Technological Development
Zone, Nantong, Jiangsu, P.R. China |
|
Telephone Number |
+86-513-8599-9966 |
|
Fax Number: |
+86-513-8599-9999 |
|
4 |
|
|
Name |
LANXESS-TSRC (Nantong) Chemical Industrial Co., Ltd. |
|
Address |
3F, No.1 Shen Hua Road, Nantong Economic & Technological
Development Zone, Nantong, Jiangsu, P.R. China |
|
Telephone Number |
+86-513-8505-9199 |
|
Fax Number: |
+86-513-8505-9184 |
|
5 |
|
|
Name |
DEXCO POLYMERS LP. |
|
Address |
12012 Wickchester Lane, Suite 280, Houston, TX 77079, U.S.A. |
|
Telephone Number |
+1-281-754-5800 |
|
Fax Number: |
+1-281-754-5801 |
|
6 |
|
|
Name |
INDIAN SYNTHETIC RUBBER LIMITED |
|
Address |
10th Floor, Core-2, North Tower, Scope Minar, Laxmi Nagar District
Centre, Delhi 110092, India |
|
Telephone Number |
+91-11-2244-8088 |
|
Fax Number: |
+91-11-2244-8088 |
|
7 |
|
|
Name |
THAI SYNTHETIC RUBBERS COMPANY LIMITED |
|
Address |
140/9 Moo 4, Tambol Tapong, Muang Rayong District, Rayong Province
21000 Thailand |
|
Telephone Number |
+66-3892-8700 |
|
Fax Number: |
+66-3892-8998 |
|
8 |
|
|
Name |
TSRC (Shanghai) Industries Ltd. |
|
Address |
1046 Yu-Shu Road, Songjiang Zone, Shanghai, P.R.C. |
|
Telephone Number |
+86-21-5773-4333 |
|
Fax Number: |
+86-21-5773-4555 |
|
9 |
|
|
Name |
TSRC (Jinan) Industries Ltd. |
|
Address |
No.666 LinGang St., Yao Qiang Town, LiCheng Zone, JiNan City, ShanDong,
P.R.C. |
|
Telephone Number |
+86-531-8874-6666 |
|
Fax Number: |
+86-531-8874-7777 |
|
10 |
|
|
Name |
Nantong Qix Storage Co., Ltd. |
|
Address |
No.111 , HeXing Road, Nantong Economic and Technological
Development
Zone, Nantong, Jiangsu, P.R. China |
|
Telephone Number |
+86-513- 8598-0931 |
|
Fax Number: |
+86-513- 8598-0211 |
Major Shareholders
|
Name |
Subscription Shares |
|
Hao Ran Foundation |
57,306,019 |
|
Weida Development Co Ltd (liberal
translation) |
27,100,475 |
|
Qingshanzhen Co Ltd (liberal translation) |
630,196 |
|
Longda Investment Co Ltd (liberal
translation) |
24,050,881 |
|
Caide Chen |
166 |
Shareholder
Information:
|
1 |
|
|
Registered Name: |
Hao Ran Foundation |
|
Address: |
3F., No.100, Section 3, Minsheng East Road,
Songshan District, Taipei City 105, Taiwan |
|
Tel |
+886-2-8712-6399 |
|
Fax |
+886-2-8712-6289 |
|
2 |
|
|
Registered Name: |
Weida Development Co Ltd (liberal translation) |
|
Registered Address: |
12F., No.100, Sec. 3, Minsheng E. Rd.,
Songshan Dist., Taipei City, Taiwan (R.O.C.) |
|
Date of Foundation: |
1983-1-25 |
|
Registration Number: |
20952028 |
|
Registry: |
|
|
Registered Capital: |
NTD 959,267,300 (USD 31,751,748) (As of 2014.08, 1 NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 959,267,300 (USD 31,751,748) |
|
Legal Representatives: |
Meixiang Wangzeng |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-7-30 |
|
3 |
|
|
Registered Name: |
Qingshanzhen Co Ltd (liberal translation) |
|
Registered Address: |
12F., No.100, Sec. 3, Minsheng E. Rd.,
Songshan Dist., Taipei City, Taiwan (R.O.C.) |
|
Date of Foundation: |
1989-11-4 |
|
Registration Number: |
23587215 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 52,550,000 (USD 1,739,405) (As of 2014.08, 1 NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 52,550,000 (USD 1,739,405) |
|
Legal Representatives: |
Zhengxiong Kang |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-3-3 |
|
4 |
|
|
Registered Name: |
Longda Investment Co Ltd (liberal translation) |
|
Registered Address: |
12F., No.100, Sec. 3, Minsheng E. Rd.,
Songshan Dist., Taipei City, Taiwan (R.O.C.) |
|
Date of Foundation: |
1991-12-5 |
|
Registration Number: |
86381773 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 62,680,000 (USD 2,074,708) (As of 2014.08, 1 NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 62,680,000 (USD 2,074,708) |
|
Legal Representatives: |
Jinlong Huang |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-3-5 |
Core Management
Directors
|
1 |
|
|
Name |
Shaoyu Wang |
|
Position |
|
|
2 |
|
|
Name |
Qi Yin |
|
Position |
Director |
|
3 |
|
|
Name |
Ziwei Li |
|
Position |
Director |
|
4 |
|
|
Name |
Liang Zhang |
|
Position |
Director |
|
5 |
|
|
Name |
Jinshan Jiang |
|
Position |
Director |
|
6 |
|
|
Name |
Runkang Lu |
|
Position |
Director |
|
7 |
|
|
Name |
Dazhi Zheng |
|
Position |
Director |
|
8 |
|
|
Name |
Yongzhen Hong |
|
Position |
Independent Director |
|
9 |
|
|
Name |
Dingkai Wu |
|
Position |
Independent Director |
|
10 |
|
|
Name |
Jinhu Xie |
|
Position |
Supervisor |
|
11 |
|
|
Name |
Caide Chen |
|
Position |
Supervisor |
|
12 |
|
|
Name |
Weihua Tu |
|
Position |
Manager |
|
Date of Appointment |
2005-6-22 |
Personnel
Structure
|
Total Employees |
About 1,456
Employees (As of 2014-2-28) |
Offices & Factories
|
|
Headquarters |
|
Add |
18F, No.95, Sec. 2, Dun Hua S. Road, Taipei 106,
Taiwan, R.O.C. |
Production
Information
l
The
subject is a manufacturer of rubber products, etc.
l
Subject
has two factories in Kaohsiung City, Taiwan for production.
l
It is
introduced that subject has obtained ISO 9001 and ISO 14001 certifications.
l
It is
introduced that the annual production capacity of two factories in Taiwan is
about 210,000 tons per year.
Purchase
Information
l
The
registered activities of subject:
|
Business Code |
Details |
|
C801060 |
Manufacturing of synthetic rubber. |
|
C804020 |
Manufacturing of industrial rubber
products. |
|
C804990 |
Manufacturing of other rubber products. |
|
D101040 |
Power generating industry no belonging to
the public. |
|
D401010 |
Heat supply industry. |
|
F401010 |
International trading business. |
|
ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
l
Subject
purchases raw materials and etc both at home and abroad.
l
It is
introduced that subject imports some technologies and skills from Japan, Russia,
Germany and etc.
l
The
subject is mainly engaged in sales of rubber products, etc.
l
It is
introduced that subject’s major products are synthetic rubber, applied
polymers, innovate products and etc.
l
It is introduced
that subject’s selling territory includes Asia, Europe, America, Africa,
Australia and etc.
l
It is
introduced that subject’s major customers are manufacturers of daily supplies,
footwear, automobiles and etc.
l
It is
introduced that subject’s products are applied to manufacturing of tyre, shoes,
kitchenware, toys and etc.
l
Subject
has cooperates with many companies, such as “UBE”, “Marubeni Corporation”,
“Indian Oil Corporation Ltd.”, “Lanxess”, “SIBUR” and etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
1.
Domestic Purchase
|
Products |
Raw materials and etc |
|
Payment Terms |
COD, CBD and etc |
2.
Import
|
Products |
Raw materials and etc |
|
Payment Terms |
CBD and etc |
Sales
1.
Domestic Markets
|
Product |
Rubber products, etc. |
|
Selling Terms |
COD, CBD and etc |
2.
Export
|
Product |
Rubber products, etc. |
|
Selling Terms |
CBD and etc |
Unit: NTD/000
|
Date |
2012-12-31* |
2011-12-31* |
|
Assets |
|
|
|
Current
Assets |
|
|
|
Cash
and cash equivalents |
605,301.00 |
1,432,954.00 |
|
Financial
assets measured at fair value through profit or loss - current |
0.00 |
0.00 |
|
Available-for-sale
financial assets - current |
0.00 |
0.00 |
|
Notes
receivable - net |
1,071.00 |
8,138.00 |
|
Accounts
receivable - net |
2,095,984.00 |
2,876,356.00 |
|
Accounts
receivable - related parties - net |
12,695.00 |
96,796.00 |
|
Other
financial assets - current |
203,352.00 |
135,959.00 |
|
Inventories |
2,210,612.00 |
2,308,278.00 |
|
Other
current assets |
128,364.00 |
111,867.00 |
|
Current
assets |
5,257,379.00 |
6,970,348.00 |
|
Funds
and Investments |
|
|
|
Financial
assets carried at cost - non current |
839,317.00 |
1,083,390.00 |
|
Equity
investments under equity method |
10,839,947.00 |
10,517,943.00 |
|
Prepayments
for long-term investments |
0.00 |
0.00 |
|
Investments |
10,839,947.00 |
10,517,943.00 |
|
Other
financial assets - non current |
5,332.00 |
4,258.00 |
|
Funds
and long-term investments |
11,684,596.00 |
11,605,591.00 |
|
Fixed
Assets |
|
|
|
Cost |
|
|
|
Land |
286,262.00 |
286,262.00 |
|
Land
improvements |
54,204.00 |
54,204.00 |
|
Buildings
and structures |
1,125,157.00 |
1,095,607.00 |
|
Machinery
and equipment |
7,081,859.00 |
6,590,357.00 |
|
Transportation
equipment |
0.00 |
0.00 |
|
Office
equipment |
62,556.00 |
63,543.00 |
|
Leased
assets |
94,596.00 |
94,596.00 |
|
Revaluation
increment |
434,304.00 |
434,913.00 |
|
Cost
and revaluation increment |
9,138,938.00 |
8,619,482.00 |
|
Accumulated
depreciation |
-7,205,866.00 |
-7,053,669.00 |
|
Construction
in process and prepayment for equipments |
326,988.00 |
521,794.00 |
|
Fixed
assets |
2,260,060.00 |
2,087,607.00 |
|
Intangible
Assets |
|
|
|
Computer
software cost |
79,012.00 |
45,024.00 |
|
Deferred
pension cost |
21,133.00 |
26,418.00 |
|
Intangible
assets |
100,145.00 |
71,442.00 |
|
OtherAssets |
|
|
|
Rental
assets |
1,766,119.00 |
1,780,844.00 |
|
Idled
assets |
120,221.00 |
120,221.00 |
|
Other
assets |
1,886,340.00 |
1,901,065.00 |
|
Assets |
21,188,520.00 |
22,636,053.00 |
|
Liabilities
and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current
Liabilities |
|
|
|
Short-term
borrowings |
2,017,077.00 |
1,141,667.00 |
|
Short-term
notes and bills payable |
349,441.00 |
249,601.00 |
|
Accounts
payable |
715,982.00 |
1,222,069.00 |
|
Income
tax payable |
370,073.00 |
442,430.00 |
|
Long-term
liabilities - current portion |
0.00 |
100,000.00 |
|
Other
current liabilities |
654,069.00 |
800,147.00 |
|
Current
liabilities |
4,106,642.00 |
3,955,914.00 |
|
Long
term Liabilities |
|
|
|
Long-term
borrowings |
0.00 |
0.00 |
|
Long-term
liabilities |
0.00 |
0.00 |
|
Reserves |
|
|
|
Reserve
for land revaluation increment tax |
56,683.00 |
56,683.00 |
|
Reserves |
56,683.00 |
56,683.00 |
|
Other
Liabilities |
|
|
|
Pension
reserve / accrued pension liability |
181,245.00 |
143,648.00 |
|
Guarantee
deposits received |
17,786.00 |
17,704.00 |
|
Deferred
income tax liabilities |
826,829.00 |
1,124,831.00 |
|
Other
liabilities - other |
189,567.00 |
169,823.00 |
|
Other
liabilities |
1,215,427.00 |
1,456,006.00 |
|
Liabilities |
5,378,752.00 |
5,468,603.00 |
|
Stockholders'
Equity |
|
|
|
Capital |
|
|
|
Common
stock |
7,863,904.00 |
7,149,004.00 |
|
Capital
Surplus |
|
|
|
Capital
surplus - additional paid-in capital |
849.00 |
849.00 |
|
Capital
surplus - other |
68,154.00 |
68,154.00 |
|
Capital
surplus |
69,003.00 |
69,003.00 |
|
Retained
Earnings |
|
|
|
Legal
reserve |
3,097,705.00 |
2,523,529.00 |
|
Unappropriated
retained earnings |
4,171,894.00 |
6,461,223.00 |
|
Retained
earnings |
7,269,599.00 |
8,984,752.00 |
|
Stockholders'
Equity and Other adjustmen |
|
|
|
Cumulative
translation adjustments |
688,778.00 |
1,002,365.00 |
|
Net
loss not recognized as pension cost |
-88,782.00 |
-44,940.00 |
|
Unrealized
gains (losses) on financial instruments |
0.00 |
0.00 |
|
Unrealized
Revaluation Increment |
7,266.00 |
7,266.00 |
|
Equity
adjustments |
607,262.00 |
964,691.00 |
|
Stockholdersˉ
equity |
15,809,768.00 (USD 523,303,320.80) |
17,167,450.00 (USD 568,242,595.00) |
|
Number
of treasury stock acquired by the company and subsidiaries (unit: share) |
0.00 |
0.00 |
|
|
0.00 |
0.00 |
Unit: NTD/000
|
Date |
2013-12-31# |
|
Assets |
|
|
Current assets |
|
|
Cash and cash equivalents |
|
|
Cash on hand |
4,994,973 |
|
Total cash and cash equivalents |
4,994,973 |
|
Notes receivable, net |
|
|
Notes receivable |
807,638 |
|
Notes receivable, net |
807,638 |
|
Accounts receivable, net |
|
|
Accounts receivable |
3,087,887 |
|
Accounts receivable, net |
3,087,887 |
|
Other receivables |
|
|
Other receivables, net |
130,251 |
|
Current tax assets |
|
|
Total current tax assets |
116,685 |
|
Inventories |
|
|
Inventories, manufacturing business |
|
|
Finished goods |
5,633,218 |
|
Inventories, manufacturing business, net |
5,633,218 |
|
Total inventories |
5,633,218 |
|
Other current assets |
|
|
Other current assets, others |
525,035 |
|
Total other current assets |
525,035 |
|
Total current assets |
15,295,687 |
|
Non-current assets |
|
|
Non-current available-for-sale financial assets |
|
|
Non-current available-for-sale financial
assets |
1,005,832 |
|
Non-current available-for-sale financial
assets, net |
1,005,832 |
|
Investments accounted for using equity method |
|
|
Investments accounted for using equity
method, net |
1,779,228 |
|
Property, plant and equipment |
|
|
Total property, plant and equipment |
10,255,107 |
|
Investment property, net |
|
|
Investment property, net |
1,669,950 |
|
Intangible assets |
|
|
Total intangible assets |
2,506,846 |
|
Deferred tax assets |
267,510 |
|
Other non-current assets |
|
|
Total other non-current assets |
592,204 |
|
Total non-current assets |
18,076,677 |
|
Total assets |
33,372,364 |
|
Liabilities |
|
|
Current liabilities |
|
|
Short-term borrowings |
|
|
Total short-term borrowings |
5,805,694 |
|
Short-term notes and bills payable |
|
|
Total short-term notes and bills payable |
798,856 |
|
Accounts payable |
|
|
Total accounts payable |
1,527,291 |
|
Accounts payable to related parties |
|
|
Total accounts payable to related parties |
0 |
|
Other payables |
|
|
Total other payables |
1,075,144 |
|
Current tax liabilities |
128,352 |
|
Other current liabilities |
|
|
Long-term liabilities, current portion |
|
|
Long-term borrowings, current portion |
1,200,944 |
|
Total long-term liabilities, current
portion |
1,200,944 |
|
Other current liabilities, others |
183,312 |
|
Total other current liabilities |
1,384,256 |
|
Total current liabilities |
10,719,593 |
|
Non-current liabilities |
|
|
Long-term borrowings |
|
|
Total long-term borrowings |
3,653,931 |
|
Deferred tax liabilities |
|
|
Total deferred tax liabilities |
903,655 |
|
Other non-current liabilities |
|
|
Total other non-current liabilities |
540,220 |
|
Total non-current liabilities |
5,097,806 |
|
Total liabilities |
15,817,399 |
|
Equity |
|
|
Equity attributable to owners of parent |
|
|
Share capital |
|
|
Ordinary share |
7,863,904 |
|
Total capital stock |
7,863,904 |
|
Capital surplus |
|
|
Capital surplus, additional paid-in
capital |
|
|
Capital surplus, additional paid-in
capital arising from ordinary share |
849 |
|
Total capital surplus, additional paid-in
capital |
849 |
|
Total capital surplus |
849 |
|
Retained earnings |
|
|
Legal reserve |
3,355,130 |
|
Unappropriated retained earnings
(accumulated deficit) |
|
|
Accumulated profit and loss |
3,180,995 |
|
Total unappropriated retained earnings
(accumulated deficit) |
3,180,995 |
|
Total retained earnings |
6,536,125 |
|
Other equity interest |
|
|
Exchange differences on translation of
foreign financial statements |
|
|
Exchange differences on translation of
foreign financial statements, subsidiaries accounted for using equity method |
1,064,983 |
|
Total exchange differences on translation
of foreign financial statements |
1,064,983 |
|
Unrealized gains (losses) on
available-for-sale financial assets |
|
|
Unrealized gains (losses) on
available-for-sale financial assets, parent |
109,336 |
|
Unrealized gains (losses) on
available-for-sale financial assets, subsidiaries accounted for using equity
method |
0 |
|
Unrealized gains (losses) on
available-for-sale financial assets, associates and joint ventures accounted
for using equity method |
0 |
|
Total unrealized gains (losses) on
available-for-sale financial assets |
109,336 |
|
Equity related to non-current assets
classified as held for sale |
|
|
Equity related to non-current assets
classified as held for sale, parent |
0 |
|
Equity related to non-current assets classified
as held for sale, subsidiaries accounted for using equity method |
0 |
|
Equity related to non-current assets
classified as held for sale, associates and joint ventures accounted for
using equity method |
0 |
|
Total equity related to non-current
assets classified as held for sale |
0 |
|
Total other equity interest |
1,174,319 |
|
Treasury shares |
0 |
|
Total equity attributable to owners of parent |
15,575,197 |
|
Non-controlling interests |
1,979,768 |
|
Total equity |
17,554,965 (USD
581,069,342) |
|
Equivalent issue shares of advance receipts for
ordinary share |
0 |
|
Number of shares in entity held by entity and by
its subsidiaries |
0 |
(As of 2014.08, 1 NTD = 0.0331 USD)
Unit: NTD/000
|
Date |
2012* |
2011* |
|
Sales |
17,075,794.00 (USD 565,208,781.40) |
20,629,837.00 (USD 682,847,604.70) |
|
Sales
returns |
13,436.00 |
4,173.00 |
|
Sales
discounts and allowances |
5,922.00 |
13,506.00 |
|
Sales |
17,056,436.00 |
20,612,158.00 |
|
Operating
income |
17,056,436.00 |
20,612,158.00 |
|
Operating
costs |
14,744,081.00 |
16,093,130.00 |
|
Gross
profit (loss) from operations |
2,312,355.00 |
4,519,028.00 |
|
Selling
expense |
401,336.00 |
454,869.00 |
|
General
and administrative expenses |
433,339.00 |
476,823.00 |
|
Research
and development expenses |
260,554.00 |
255,519.00 |
|
Operating
expenses |
1,095,229.00 |
1,187,211.00 |
|
Operating
income (loss) |
1,217,126.00 |
3,331,817.00 |
|
Non-Operating
Income |
|
|
|
Interest
income |
4,873.00 |
7,077.00 |
|
Income
from long-term equity investments under the equity method |
1,345,179.00 |
3,525,251.00 |
|
Dividends |
41,445.00 |
100,574.00 |
|
Investment
income |
1,386,624.00 |
3,625,825.00 |
|
Gains
on sale of investments |
0.00 |
7,962.00 |
|
Foreign
exchange gains |
0.00 |
40,167.00 |
|
Rent
income |
74,209.00 |
72,579.00 |
|
Reversal
of impairment loss on assets |
0.00 |
0.00 |
|
Revaluation
gain on financial assets |
0.00 |
0.00 |
|
Miscellaneous
income |
225,604.00 |
139,013.00 |
|
Non-operating
revenues and gains |
1,691,310.00 |
3,892,623.00 |
|
Non-Operating
Expenses |
|
|
|
Interest
expense |
29,577.00 |
19,411.00 |
|
Loss
on disposal of fixed assets |
292.00 |
781.00 |
|
Loss
on sale of investments |
9,862.00 |
0.00 |
|
Foreign
exchange losses |
2,699.00 |
0.00 |
|
Impairment
loss on assets |
0.00 |
0.00 |
|
Miscellaneous
disbursements |
119,510.00 |
168,947.00 |
|
Non-operating
expenses and losses |
161,940.00 |
189,139.00 |
|
Income
from continuing operations before income tax |
2,746,496.00 |
7,035,301.00 |
|
Income
tax expense (benefit) |
172,247.00 |
1,288,622.00 |
|
Income
from continuing operations |
2,574,249.00 |
5,746,679.00 |
|
Cumulative
effect of changes in accounting principle |
0.00 |
-4,914.00 |
|
Net
income (loss) |
2,574,249.00 |
5,741,765.00 |
|
Primary
Earnings per Share |
|
|
|
Primary
earnings per share |
3.27 |
7.30 |
|
Diluted
earnings per share |
|
|
|
Diluted
earnings per share |
3.27 |
7.29 |
Unit: NTD/000
|
Date |
2013# |
|
Operating revenue |
|
|
Total operating revenue |
34,422,999 (USD
1,139,401,267) |
|
Operating costs |
|
|
Total operating costs |
30,155,898 |
|
Gross profit (loss) from operations |
4,267,101 |
|
Gross profit (loss) from operations |
4,267,101 |
|
Operating expenses |
|
|
Selling expenses |
|
|
Total selling expenses |
1,033,162 |
|
Administrative expenses |
|
|
Total administrative expenses |
904,716 |
|
Research and development expenses |
|
|
Other expenses |
389,147 |
|
Total research and development expenses |
389,147 |
|
Total operating expenses |
2,327,025 |
|
Net other income (expenses) |
|
|
Net other income (expenses) |
124,856 |
|
Net operating income (loss) |
2,064,932 |
|
Non-operating income and expenses |
|
|
Other income |
|
|
Interest income |
|
|
Other interest income |
97,576 |
|
Total interest income |
97,576 |
|
Total other income |
97,576 |
|
Other gains and losses |
|
|
Other gains and losses, net |
278,235 |
|
Finance costs |
|
|
Finance costs, net |
184,832 |
|
Share of profit (loss) of associates and joint
ventures accounted for using equity method |
|
|
Share of loss of associates and joint ventures
accounted for using equity method |
153,909 |
|
Share of profit (loss) of associates and joint
ventures accounted for using equity method, net |
-153,909 |
|
Total non-operating income and expenses |
37,070 |
|
Profit (loss) from continuing operations before tax |
2,102,002 |
|
Tax expense (income) |
|
|
Total tax expense (income) |
386,520 |
|
Profit (loss) from continuing operations |
1,715,482 |
|
Profit (loss) |
1,715,482 |
|
Other comprehensive income |
|
|
Exchange differences on translation |
408,615 |
|
Unrealised gains (losses) on valuation of
available-for-sale financial assets |
111,224 |
|
Actuarial gains (losses) on defined benefit
plans |
2,222 |
|
Income tax related to components of other
comprehensive income |
0 |
|
Other comprehensive income, net |
522,061 |
|
Total comprehensive income |
2,237,543 |
|
Profit (loss), attributable to: |
|
|
Profit (loss), attributable to owners of parent |
1,495,011 |
|
Profit (loss), attributable to non-controlling
interests |
220,471 |
|
Comprehensive income attributable to: |
|
|
Comprehensive income, attributable to owners of
parent |
1,984,662 |
|
Comprehensive income, attributable to non-controlling
interests |
252,881 |
|
Basic earnings per share |
|
|
Basic earnings (loss) per share from continuing
operations |
1.90 |
|
Total basic earnings per share |
1.90 |
(As of 2014.08, 1 NTD = 0.0331 USD)
|
Date |
2012* |
2011* |
|
Cash Flows from Operating Activities -
Indirect Method |
|
|
|
Net Income (Loss) |
2,574,249.00 |
5,741,765.00 |
|
Adjustments to Reconcile Net Income
to Net Cash Provided by (Used in) Operating Activities |
|
|
|
Depreciation Expense |
227,094.00 |
202,119.00 |
|
Amortization Expense |
19,925.00 |
11,044.00 |
|
Provision (Reversal of
Provision) for Bad Debts Losses |
0.00 |
-14,509.00 |
|
Loss (Gain) on Decline
(Recovery) in Market Value, Scrap and Obsolescence of Inventories |
-654.00 |
-1,377.00 |
|
Investment Loss (Income)
Recognized under Equity Method |
-1,345,179.00 |
-3,525,251.00 |
|
Cash Dividends Received from
Investments Accounted for under Equity Method |
1,410,094.00 |
23,333.00 |
|
Loss (Gain) on Disposal
of Property, Plan and Equipment |
292.00 |
781.00 |
|
Loss (Gain) on Disposal
of Investments |
9,862.00 |
-7,962.00 |
|
Unrealized Revaluation
Loss (Gain) on Financial Assets and Liabilities |
0.00 |
0.00 |
|
Impairment Loss on
Non-Financial Assets |
0.00 |
0.00 |
|
Loss (Gain) on Deferred
Income Tax |
-295,931.00 |
714,901.00 |
|
Other Adjustments to Reconcile
Net Income |
-33,957.00 |
-36,977.00 |
|
Changes in Operating Assets and
Liabilities |
|
|
|
Decrease
(Increase) in Financial Assets Held for Trading |
0.00 |
0.00 |
|
Decrease
(Increase) in Notes Receivable |
7,067.00 |
6,894.00 |
|
Decrease
(Increase) in Accounts Receivable |
780,372.00 |
-869,435.00 |
|
Decrease
(Increase) in Accounts Receivable - Related Parties |
84,101.00 |
-72,984.00 |
|
Decrease
(Increase) in Inventories |
98,320.00 |
-554,325.00 |
|
Decrease
(Increase) in Prepaid Expenses |
-18,568.00 |
24,794.00 |
|
Decrease
(Increase) in Other Financial Assets |
-67,393.00 |
-8,644.00 |
|
Decrease
(Increase) in Deferred Tax Assets |
0.00 |
0.00 |
|
Increase (Decrease)
in Accounts Payable |
-506,087.00 |
268,436.00 |
|
Increase
(Decrease) in Income Tax Payable |
-72,357.00 |
222,332.00 |
|
Increase
(Decrease) in Accrued Expenses |
-227,980.00 |
229,669.00 |
|
Increase (Decrease)
in Deferred Tax Liabilities |
0.00 |
0.00 |
|
Increase
(Decrease) in Accrued Pension Liabilities |
-960.00 |
2,805.00 |
|
Increase
(Decrease) in Other Operating Liabilities |
42,406.00 |
16,541.00 |
|
Net Cash Provided by (Used in) Operating
Activities |
2,684,716.00 |
2,373,950.00 |
|
Cash Flows from Investing Activities |
|
|
|
Acquisition of Available-for-sale
Financial Assets |
-487,169.00 |
-890,000.00 |
|
Proceeds from Disposal of Available-for-sale
Financial Assets |
497,419.00 |
973,761.00 |
|
Proceeds from Disposal of
Financial Assets Carried at Cost |
223,961.00 |
0.00 |
|
Capital Reduction of Financial
Assets Carried at Cost |
0.00 |
144,000.00 |
|
Acquisition of Investments
Accounted for by Equity Method |
-720,000.00 |
0.00 |
|
Proceeds from Disposal of
Investments Accounted for by Equity Method |
0.00 |
0.00 |
|
Proceeds from Capital Reduction
of Investments Accounted for under Equity Method |
19,494.00 |
0.00 |
|
Purchase of Property, Plant and
Equipment |
-345,025.00 |
-581,806.00 |
|
Proceeds from Disposal of
Property, Plant and Equipment |
45.00 |
11,340.00 |
|
Purchase of Intangible Assets |
0.00 |
-1,472.00 |
|
Decrease (Increase) in Other
Financial Assets |
-1,074.00 |
-913.00 |
|
Net Cash Provided by (Used in)
Investing Activities |
-812,349.00 |
-345,090.00 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in Short-term
Loans |
875,410.00 |
180,277.00 |
|
Increase (Decrease) in Short-term
Notes and Bills Payable |
99,840.00 |
249,601.00 |
|
Repayments of Bonds |
0.00 |
0.00 |
|
Proceeds from Long-term Debt |
-100,000.00 |
-250,000.00 |
|
Increase (Decrease) in Guarantee
Deposits Received |
82.00 |
485.00 |
|
Increase (Decrease) in Lease
Payable |
-6,200.00 |
-6,423.00 |
|
Cash Dividends Paid |
-3,569,152.00 |
-2,274,067.00 |
|
Other Financing Activities |
0.00 |
0.00 |
|
Net Cash Provided by (Used in)
Financing Activities |
-2,700,020.00 |
-2,100,127.00 |
|
Effect of Exchange Rate Changes |
0.00 |
0.00 |
|
Net Increase (Decrease) in Cash and Cash
Equivalents |
-827,653.00 |
-71,267.00 |
|
Cash and Cash Equivalents, Beginning of
year |
1,432,954.00 |
1,504,221.00 |
|
Cash and Cash Equivalents, End of year |
605,301.00 |
1,432,954.00 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid |
29,280.00 |
18,651.00 |
|
Interest Paid- Excluding
Capitalized Interest |
29,280.00 |
18,651.00 |
|
Income Tax Paid |
452,716.00 |
351,496.00 |
|
Non-cash Investing and Financing
Activities |
|
|
|
Current Portion of Long-term
Liabilities |
0.00 |
100,000.00 |
|
Acquisition of Leased Assets |
0.00 |
0.00 |
|
Property, Plan and Equipment
Transferred to Rental Assets |
0.00 |
0.00 |
|
Property, Plan and Equipment
Transferred to Deferred Charges |
53,913.00 |
51,763.00 |
|
Other Assets Transferred to Investments |
0.00 |
0.00 |
|
Idled Assets Transferred to
Rental Assets |
0.00 |
0.00 |
|
Inventories Transferred to
Property, Plan and Equipment |
0.00 |
9,915.00 |
|
Receivable from Disposal of
Long-term Investments under Equity Method |
0.00 |
0.00 |
|
Unrealized Valuation Gains or
Losses on Financial Instruments |
0.00 |
-5,980.00 |
|
Cumulative Translation
Adjustments |
313,587.00 |
-744,462.00 |
|
Capital Surplus to Offset
Accumulated Deficits |
0.00 |
0.00 |
|
Long-term Investments under
Equity Method Reclassified as Financial Assets Measured at Cost |
0.00 |
0.00 |
|
Long-term Investments under
Equity Method Transferred to Long-term Investments Classified Held for Sale |
0.00 |
0.00 |
|
Investing Activities Affecting Both Cash
and Non-cash Items |
|
|
|
Cash Paid for Acquisition of
Property, Plant and Equipment |
|
|
|
Increase in Property,
Plant and Equipment |
421,655.00 |
555,286.00 |
|
Increase (Decrease) in Payable
for Equipment Purchased |
-76,630.00 |
26,520.00 |
|
Cash Paid for Acquisition
of Property, Plant and Equipment |
345,025.00 |
581,806.00 |
Unit: NTD/000
|
Date |
2013# |
|
Cash flows from (used in) operating
activities, indirect method |
|
|
Profit (loss) from continuing operations before
tax |
2,102,002 |
|
Profit (loss) before tax |
2,102,002 |
|
Adjustments |
|
|
Adjustments to reconcile profit (loss) |
|
|
Depreciation expense |
910,846 |
|
Amortization expense |
188,665 |
|
Provision (reversal of provision) for bad
debt expense |
0 |
|
Interest expense |
184,832 |
|
Interest income |
-97,576 |
|
Dividend income |
-41,267 |
|
Share of loss (profit) of associates and
joint ventures accounted for using equity method |
153,909 |
|
Loss (gain) on disposal of property, plan
and equipment |
-54 |
|
Loss (gain) on disposal of investments |
0 |
|
Other adjustments to reconcile profit
(loss) |
12,111 |
|
Total adjustments to reconcile profit
(loss) |
1,311,466 |
|
Changes in operating assets and liabilities |
|
|
Changes in operating assets |
|
|
Decrease (increase) in notes receivable |
600,745 |
|
Decrease (increase) in notes receivable
due from related parties |
1,206,227 |
|
Decrease (increase) in accounts
receivable due from related parties |
156,050 |
|
Decrease (increase) in inventories |
470,960 |
|
Decrease (increase) in other current
assets |
-61,697 |
|
Total changes in operating assets |
2,372,285 |
|
Changes in operating liabilities |
|
|
Increase (decrease) in accounts payable |
-156,485 |
|
Increase (decrease) in accounts payable
to related parties |
-58,134 |
|
Increase (decrease) in other current
liabilities |
-8,613 |
|
Increase (decrease) in accrued pension
liabilities |
-12,145 |
|
Increase (decrease) in other operating
liabilities |
-136,725 |
|
Total changes in operating liabilities |
-372,102 |
|
Total changes in operating assets and
liabilities |
2,000,183 |
|
Total adjustments |
3,311,649 |
|
Cash inflow (outflow) generated from operations |
5,413,651 |
|
Interest received |
82,849 |
|
Interest paid |
-180,197 |
|
Income taxes refund (paid) |
-1,115,796 |
|
Net cash flows from (used in) operating activities |
4,200,507 |
|
Cash flows from (used in) investing activities |
|
|
Proceeds from capital reduction of financial
assets at fair value through other comprehensive income |
0 |
|
Acquisition of financial assets at amortised
cost |
0 |
|
Proceeds from disposal of financial assets at
amortised cost |
0 |
|
Acquisition of investments accounted for using
equity method |
0 |
|
Proceeds from capital reduction of investments
accounted for using equity method |
0 |
|
Acquisition of property, plant and equipment |
-922,538 |
|
Proceeds from disposal of property, plant and
equipment |
2,228 |
|
Acquisition of intangible assets |
-248 |
|
Decrease in other non-current assets |
22,816 |
|
Dividends received |
41,267 |
|
Net cash flows from (used in) investing
activities |
-856,475 |
|
Cash flows from (used in) financing activities |
|
|
Increase in short-term loans |
-388,485 |
|
Increase in short-term notes and bills payable |
449,415 |
|
Proceeds from long-term debt |
689,026 |
|
Repayments of long-term debt |
-1,593,408 |
|
Decrease in other non-current liabilities |
-5,811 |
|
Cash dividends paid |
-2,621,308 |
|
Net cash flows from (used in) financing
activities |
-3,470,571 |
|
Effect of exchange rate changes on cash and cash equivalents |
-25,651 |
|
Net increase (decrease) in cash and cash equivalents |
-152,190 |
|
Cash and cash equivalents at beginning of period |
5,147,163 |
|
Cash and cash equivalents at end of period |
4,994,973 |
|
Cash and cash equivalents reported in the
statement of financial position |
4,994,973 |
|
Other items qualifying for cash and cash
equivalents under the definition of IAS 7 |
0 |
Note:
(*) Figures are based on the Taiwan generally accepted accounting principle.
(#) Figures are based on the IFRSs Accounting System.
Subject declined to disclose its bank details; from other source we could not obtain the relevant information, either.
Mortgage
No chattel mortgage record of subject has been found within the recent 3 months.
Lawsuit
|
Trial Number: |
2007,Beilaojian,22 |
|
Date of Trial: |
2007-5-10 |
|
Reason: |
|
|
Claimant: |
Not stated |
|
Defendant: |
TSRC CORPORATION |
Interview Details
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.55 |
|
|
1 |
Rs. 103.50 |
|
Euro |
1 |
Rs. 82.41 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
DPT |
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.