|
Report Date : |
01.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
TAITA CHEMICAL CO., LTD. |
|
|
|
|
Registered Office : |
12F., No.37 Ji-Hu Rd., Nei-Hu Dist., Taipei |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
06.04.1960 |
|
|
|
|
Reg. No.: |
11893409 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and sales of chemicals |
|
|
|
|
No. of Employees : |
About 390 Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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) |
|
China |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
CHINA - ECONOMIC OVERVIEW
Since the late 1970s China has moved from a closed,
centrally planned system to a more market-oriented one that plays a major
global role - in 2010 China became the world's largest exporter. Reforms began
with the phasing out of collectivized agriculture, and expanded to include the
gradual liberalization of prices, fiscal decentralization, increased autonomy
for state enterprises, creation of a diversified banking system, development of
stock markets, rapid growth of the private sector, and opening to foreign trade
and investment. China has implemented reforms in a gradualist fashion. In
recent years, China has renewed its support for state-owned enterprises in
sectors it considers important to "economic security," explicitly
looking to foster globally competitive national champions. After keeping its
currency tightly linked to the US dollar for years, in July 2005 China revalued
its currency by 2.1% against the US dollar and moved to an exchange rate system
that references a basket of currencies. From mid 2005 to late 2008 cumulative
appreciation of the renminbi against the US dollar was more than 20%, but the
exchange rate remained virtually pegged to the dollar from the onset of the
global financial crisis until June 2010, when Beijing allowed resumption of a
gradual appreciation. The restructuring of the economy and resulting efficiency
gains have contributed to a more than tenfold increase in GDP since 1978.
Measured on a purchasing power parity (PPP) basis that adjusts for price
differences, China in 2012 stood as the second-largest economy in the world
after the US, having surpassed Japan in 2001. The dollar values of China's
agricultural and industrial output each exceed those of the US; China is second
to the US in the value of services it produces. Still, per capita income is
below the world average. The Chinese government faces numerous economic
challenges, including: (a) reducing its high domestic savings rate and
correspondingly low domestic demand; (b) sustaining adequate job growth for
tens of millions of migrants and new entrants to the work force; (c) reducing
corruption and other economic crimes; and (d) containing environmental damage
and social strife related to the economy's rapid transformation. Economic
development has progressed further in coastal provinces than in the interior,
and by 2011 more than 250 million migrant workers and their dependents had
relocated to urban areas to find work. One consequence of population control
policy is that China is now one of the most rapidly aging countries in the
world. Deterioration in the environment - notably air pollution, soil erosion,
and the steady fall of the water table, especially in the North - is another
long-term problem. China continues to lose arable land because of erosion and
economic development. The Chinese government is seeking to add energy
production capacity from sources other than coal and oil, focusing on nuclear
and alternative energy development. In 2010-11, China faced high inflation
resulting largely from its credit-fueled stimulus program. Some tightening
measures appear to have controlled inflation, but GDP growth consequently
slowed to under 8% for 2012. An economic slowdown in Europe contributed to
China's, and is expected to further drag Chinese growth in 2013. Debt overhang
from the stimulus program, particularly among local governments, and a property
price bubble challenge policy makers currently. The government's 12th Five-Year
Plan, adopted in March 2011, emphasizes continued economic reforms and the need
to increase domestic consumption in order to make the economy less dependent on
exports in the future. However, China has made only marginal progress toward
these rebalancing goals.
|
Source
: CIA |
|
Company Name: |
Taita Chemical Co., Ltd. |
|
Supplied Name: |
Taita Chemical Co Ltd. |
|
Trading Address: |
12F., No.37 Ji-Hu Rd., Nei-Hu Dist., Taipei,
Taiwan R.O.C. |
|
Supplied Address: |
12F, 37 Ji-hu Road, Nei-hu Dist. Taipei |
|
Telephone Number: |
+886-2-8751-6888 |
|
Fax Number: |
+886-2-2659-9520 |
|
E-mail: |
Notes: The exact name and address are as
above.
Subject was incorporated
on 1960-4-6 with registered number 11893409
as Joint Stock Company in
Taiwan.
Subject listed on Taiwan Stock Exchange on
1986-6-27.
|
Subscription Shares |
|
|
Lianju International Investment Co Ltd (literal translation) |
120,159,750 |
|
Yilian International Investment Co Ltd (literal translation) |
29,981,137 |
The information above is that of subject’s major shareholders.
Shareholder Information:
|
Registered Name: |
Lianju International Investment Co Ltd (literal translation) |
|
Registered Address: |
12F., No.37 Ji-Hu Rd., Nei-Hu Dist., Taipei,
Taiwan R.O.C. |
|
Date of Foundation: |
1996-10-18 |
|
Registration Number: |
97168102 |
|
Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C. |
|
Registered Capital: |
NTD 3,567,616,000 (USD 120,942,182) (As of 2014.1, 1 NTD = 0.0339 USD) |
|
Paid-up Capital: |
NTD 3,567,616,000 (USD 120,942,182) |
|
Legal Representatives: |
Yigui Wu |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2013-8-6 |
Factories
|
1 |
|
|
Address: |
No. 3, Jianji Street, Qianzhen District, Gaoxiong City |
|
Date of Registration: |
1965-12-1 |
|
Factory Registration Number: |
64000067 |
|
Factory Manager: |
Zhihong Liu |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2011-3-10 |
|
2 |
|
|
Address: |
No. 571, Minzu Road, 17 Tianliao Alley, Toufen Tow, Miaoli County |
|
Date of Foundation: |
1991-1-25 |
|
Date of Registration: |
1992-8-5 |
|
Factory Registration Number: |
99631806 |
|
Factory Manager: |
Shengpeng Chen |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2007-12-19 |
|
3 |
|
|
Address: |
No. 5, Industrial 1 Road, Linyuan District, Gaoxiong City |
|
Date of Foundation: |
1982-2-22 |
|
Date of Registration: |
1990-12-31 |
|
Factory Registration Number: |
99661848 |
|
Factory Manager: |
Qinglong Li |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2012-3-7 |
Core Management
Directors
|
1 |
|
|
Name |
Yigui Wu |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Fengqiang Miao |
|
Position |
Director |
|
3 |
|
|
Name |
Hantai Liu |
|
Position |
Director |
|
4 |
|
|
Name |
Xinhuai Zhou |
|
Position |
Director |
|
5 |
|
|
Name |
Baoluo Ying |
|
Position |
Director/Manager |
|
Date of Appointment |
2008-9-30 |
|
6 |
|
|
Name |
Yishao Ke |
|
Position |
Director |
|
7 |
|
|
Name |
Zhentu Liu |
|
Position |
Director |
|
8 |
|
|
Name |
Shengquan Wu |
|
Position |
Supervisor |
|
9 |
|
|
Name |
Zhaoan Wang |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 390 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
Production
Information
Subject is engaged in manufacturing of chemicals, etc.
Subject has factories in Taiwan for production.
Subject obtained the certification of ISO9001, ISO14001, etc.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
|
The cotter of polystyrene and processed products |
|
|
Manufacturing and sales of propylene, butadiene, styrene copolymer
resin (ABS). |
|
|
Manufacturing and sales of propylene, styrene copolymer resin (SAN). |
|
|
The cotter of glass cotton and related products |
|
|
The cotter of plastic raw materials and processed products |
|
E303020 |
Noise and vibration control engineering |
|
E801010 |
Interior decorating businesses |
|
ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
The components and raw material for production are purchased from both
home and abroad.
The subject is mainly engaged in sales of
chemicals, etc.
The major products sold by subject include
Acrylonitrile-Butadiene-Styrene Resin (ABS), General Purpose Polystyrene
(GPPS), High Impact Polystyrene (HIPS), Expandable Polystyrene (EPS), Glass
Wool (GW), Cubic Printing, etc.
The subject sales regions include Asia,
America, Europe, etc.
Subject sales the product with the brand of “Taitalac®”, “Taitacell®”.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Products |
Components and raw material |
|
Terms |
Cash, T/T, etc |
Import
|
Products |
Components and raw material |
|
Terms |
Sales
Domestic Markets
|
Product |
Chemicals, etc. |
|
Terms |
T/T, Cash, etc |
Export
|
Products |
Chemicals, etc. |
|
Terms |
L/C, etc |
Unit: NTD/000
|
|
2012-12-31 |
2011-12-31 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
97,237.00 |
183,747.00 |
|
Financial assets measured at fair value through profit or loss -
current |
430,571.00 |
973,615.00 |
|
Notes receivable - net |
57,169.00 |
74,908.00 |
|
Accounts receivable - net |
721,503.00 |
1,018,793.00 |
|
Accounts receivable - related parties - net |
21,125.00 |
1,634.00 |
|
Other receivables |
69,395.00 |
83,743.00 |
|
Other receivables - related parties |
6,420.00 |
6,406.00 |
|
Inventories |
1,010,874.00 |
1,031,621.00 |
|
Other current assets |
73,310.00 |
64,733.00 |
|
Current assets |
2,487,604.00 |
3,439,200.00 |
|
Funds and Investments |
|
|
|
Available-for-sale financial assets - non current |
341,230.00 |
320,719.00 |
|
Financial assets carried at cost - non current |
5,000.00 |
6,750.00 |
|
Equity investments under equity method |
2,130,368.00 |
2,177,002.00 |
|
Investments |
2,130,368.00 |
2,177,002.00 |
|
Funds and long-term investments |
2,476,598.00 |
2,504,471.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
255,269.00 |
255,269.00 |
|
Buildings and structures |
580,707.00 |
593,907.00 |
|
Machinery and equipment |
2,441,836.00 |
2,712,924.00 |
|
Transportation equipment |
21,913.00 |
21,913.00 |
|
Other facilities |
211,018.00 |
204,828.00 |
|
Revaluation increment |
381,360.00 |
381,360.00 |
|
Cost and revaluation increment |
3,892,103.00 |
4,170,201.00 |
|
Accumulated depreciation |
-2,961,690.00 |
-3,198,625.00 |
|
Construction in process and prepayment for equipments |
560,405.00 |
105,055.00 |
|
Fixed assets |
1,490,818.00 |
1,076,631.00 |
|
Intangible Assets |
|
|
|
Deferred pension cost |
0 |
2 |
|
Intangible assets |
0 |
2 |
|
OtherAssets |
|
|
|
Rental assets |
93,525.00 |
93,306.00 |
|
Idled assets |
19,489.00 |
19,489.00 |
|
Guarantee deposits paid |
310 |
310 |
|
Deferred charges |
8,445.00 |
392 |
|
Deferred income tax assets - non current |
55,033.00 |
39,557.00 |
|
Other assets - other |
15,225.00 |
15,000.00 |
|
Other assets |
192,027.00 |
168,054.00 |
|
Assets |
6,647,047.00 |
7,188,358.00 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowings |
0 |
319,557.00 |
|
Short-term notes and bills payable |
199,954.00 |
299,845.00 |
|
Financial liabilities measured at fair value through profit or loss -
current |
1 |
57 |
|
Accounts payable |
647,766.00 |
554,318.00 |
|
Accounts payable - related parties |
1,092.00 |
635 |
|
Income tax payable |
957 |
19,925.00 |
|
Accrued expenses |
115,492.00 |
142,228.00 |
|
Other payables - related parties |
13,185.00 |
6,766.00 |
|
Other payables |
32,379.00 |
16,458.00 |
|
Long-term liabilities - current portion |
499,734.00 |
499,868.00 |
|
Other current liabilities |
5,676.00 |
6,249.00 |
|
Current liabilities |
1,516,236.00 |
1,865,906.00 |
|
Long term Liabilities |
|
|
|
Long-term borrowings |
400,000.00 |
499,422.00 |
|
Long-term liabilities |
400,000.00 |
499,422.00 |
|
Reserves |
|
|
|
Reserve for land revaluation increment tax |
143,860.00 |
143,860.00 |
|
Reserves |
143,860.00 |
143,860.00 |
|
Other Liabilities |
|
|
|
Pension reserve / accrued pension liability |
520,049.00 |
501,236.00 |
|
Guarantee deposits received |
779 |
590 |
|
Other liabilities |
520,828.00 |
501,826.00 |
|
Liabilities |
2,580,924.00 |
3,011,014.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
3,276,518.00 |
3,120,493.00 |
|
Capital Surplus |
|
|
|
Capital surplus - long-term equity investments |
4,873.00 |
4,338.00 |
|
Capital surplus |
4,873.00 |
4,338.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
95,436.00 |
68,333.00 |
|
Unappropriated retained earnings |
103,112.00 |
412,389.00 |
|
Retained earnings |
198,548.00 |
480,722.00 |
|
Stockholders' Equity and Other adjustmen |
|
|
|
Cumulative translation adjustments |
104,447.00 |
160,233.00 |
|
Net loss not recognized as pension cost |
-79,687.00 |
-90,874.00 |
|
Unrealized gains (losses) on financial instruments |
282,154.00 |
223,162.00 |
|
Unrealized Revaluation Increment |
279,270.00 |
279,270.00 |
|
Equity adjustments |
586,184.00 |
571,791.00 |
|
Stockholdersˉ equity |
4,066,123.00 |
4,177,344.00 |
|
Number of treasury stock acquired by the company and subsidiaries
(unit: share) |
0 |
0 |
|
|
0 |
0 |
Unit: NTD/000
|
|
2012 |
2011 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
97,237.00 |
183,747.00 |
|
Financial assets measured at fair value through profit or loss -
current |
430,571.00 |
973,615.00 |
|
Notes receivable - net |
57,169.00 |
74,908.00 |
|
Accounts receivable - net |
721,503.00 |
1,018,793.00 |
|
Accounts receivable - related parties - net |
21,125.00 |
1,634.00 |
|
Other receivables |
69,395.00 |
83,743.00 |
|
Other receivables - related parties |
6,420.00 |
6,406.00 |
|
Inventories |
1,010,874.00 |
1,031,621.00 |
|
Other current assets |
73,310.00 |
64,733.00 |
|
Current assets |
2,487,604.00 |
3,439,200.00 |
|
Funds and Investments |
|
|
|
Available-for-sale financial assets - non current |
341,230.00 |
320,719.00 |
|
Financial assets carried at cost - non current |
5,000.00 |
6,750.00 |
|
Equity investments under equity method |
2,130,368.00 |
2,177,002.00 |
|
Investments |
2,130,368.00 |
2,177,002.00 |
|
Funds and long-term investments |
2,476,598.00 |
2,504,471.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
255,269.00 |
255,269.00 |
|
Buildings and structures |
580,707.00 |
593,907.00 |
|
Machinery and equipment |
2,441,836.00 |
2,712,924.00 |
|
Transportation equipment |
21,913.00 |
21,913.00 |
|
Other facilities |
211,018.00 |
204,828.00 |
|
Revaluation increment |
381,360.00 |
381,360.00 |
|
Cost and revaluation increment |
3,892,103.00 |
4,170,201.00 |
|
Accumulated depreciation |
-2,961,690.00 |
-3,198,625.00 |
|
Construction in process and prepayment for equipments |
560,405.00 |
105,055.00 |
|
Fixed assets |
1,490,818.00 |
1,076,631.00 |
|
Intangible Assets |
|
|
|
Deferred pension cost |
0 |
2 |
|
Intangible assets |
0 |
2 |
|
OtherAssets |
|
|
|
Rental assets |
93,525.00 |
93,306.00 |
|
Idled assets |
19,489.00 |
19,489.00 |
|
Guarantee deposits paid |
310 |
310 |
|
Deferred charges |
8,445.00 |
392 |
|
Deferred income tax assets - non current |
55,033.00 |
39,557.00 |
|
Other assets - other |
15,225.00 |
15,000.00 |
|
Other assets |
192,027.00 |
168,054.00 |
|
Assets |
6,647,047.00 |
7,188,358.00 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowings |
0 |
319,557.00 |
|
Short-term notes and bills payable |
199,954.00 |
299,845.00 |
|
Financial liabilities measured at fair value through profit or loss -
current |
1 |
57 |
|
Accounts payable |
647,766.00 |
554,318.00 |
|
Accounts payable - related parties |
1,092.00 |
635 |
|
Income tax payable |
957 |
19,925.00 |
|
Accrued expenses |
115,492.00 |
142,228.00 |
|
Other payables - related parties |
13,185.00 |
6,766.00 |
|
Other payables |
32,379.00 |
16,458.00 |
|
Long-term liabilities - current portion |
499,734.00 |
499,868.00 |
|
Other current liabilities |
5,676.00 |
6,249.00 |
|
Current liabilities |
1,516,236.00 |
1,865,906.00 |
|
Long term Liabilities |
|
|
|
Long-term borrowings |
400,000.00 |
499,422.00 |
|
Long-term liabilities |
400,000.00 |
499,422.00 |
|
Reserves |
|
|
|
Reserve for land revaluation increment tax |
143,860.00 |
143,860.00 |
|
Reserves |
143,860.00 |
143,860.00 |
|
Other Liabilities |
|
|
|
Pension reserve / accrued pension liability |
520,049.00 |
501,236.00 |
|
Guarantee deposits received |
779 |
590 |
|
Other liabilities |
520,828.00 |
501,826.00 |
|
Liabilities |
2,580,924.00 |
3,011,014.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
3,276,518.00 |
3,120,493.00 |
|
Capital Surplus |
|
|
|
Capital surplus - long-term equity investments |
4,873.00 |
4,338.00 |
|
Capital surplus |
4,873.00 |
4,338.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
95,436.00 |
68,333.00 |
|
Unappropriated retained earnings |
103,112.00 |
412,389.00 |
|
Retained earnings |
198,548.00 |
480,722.00 |
|
Stockholders' Equity and Other adjustmen |
|
|
|
Cumulative translation adjustments |
104,447.00 |
160,233.00 |
|
Net loss not recognized as pension cost |
-79,687.00 |
-90,874.00 |
|
Unrealized gains (losses) on financial instruments |
282,154.00 |
223,162.00 |
|
Unrealized Revaluation Increment |
279,270.00 |
279,270.00 |
|
Equity adjustments |
586,184.00 |
571,791.00 |
|
Stockholdersˉ equity |
4,066,123.00 |
4,177,344.00 |
|
Number of treasury stock acquired by the company and subsidiaries
(unit: share) |
0 |
0 |
|
|
0 |
0 |
Unit: NTD/000
|
|
2012 |
2011 |
|
Net Income (Loss) |
-63,747.00 |
271,032.00 |
|
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in)
Operating Activities |
|
|
|
Depreciation Expense |
81,915.00 |
92,055.00 |
|
Amortization Expense |
169.00 |
13,302.00 |
|
Provision (Reversal of Provision) for Bad Debts
Losses |
52,750.00 |
-3,953.00 |
|
Provision (Reversal of Provision) for Sales Returns,
Discounts and Allowances |
463.00 |
387.00 |
|
Loss (Gain) on Decline (Recovery) in Market Value,
Scrap and Obsolescence of Inventories |
-8,006.00 |
14,807.00 |
|
Investment Loss (Income) Recognized under Equity
Method |
-19,440.00 |
-121,573.00 |
|
Cash Dividends Received from Investments Accounted
for under Equity Method |
2,414.00 |
4,962.00 |
|
Loss (Gain) on Disposal of Property, Plan and
Equipment |
840.00 |
-763.00 |
|
Loss (Gain) on Disposal of Investments |
-9,571.00 |
-3,603.00 |
|
Unrealized Revaluation Loss (Gain) on Financial
Assets and Liabilities |
-49,500.00 |
-7,200.00 |
|
Impairment Losses on Financial Asset |
23,360.00 |
0.00 |
|
Loss (Gain) on Deferred Income Tax |
-12,332.00 |
1,393.00 |
|
Changes in Operating Assets and Liabilities |
|
|
|
Decrease (Increase) in Financial Assets Held
for Trading |
0.00 |
50,000.00 |
|
Decrease (Increase) in Notes Receivable |
17,739.00 |
-14,734.00 |
|
Decrease (Increase) in Accounts Receivable |
244,077.00 |
57,548.00 |
|
Decrease (Increase) in Accounts Receivable -
Related Parties |
-19,491.00 |
8,436.00 |
|
Decrease (Increase) in Other Receivables |
14,348.00 |
-23,210.00 |
|
Decrease (Increase) in Other Receivable-
Related Parties |
-14.00 |
1,246.00 |
|
Decrease (Increase) in Inventories |
28,753.00 |
-225,747.00 |
|
Decrease (Increase) in Other Current Assets |
-605.00 |
-7,305.00 |
|
Increase (Decrease) in Accounts Payable |
93,448.00 |
3,766.00 |
|
Increase (Decrease) in Accounts Payable -
Related Parties |
457.00 |
-473.00 |
|
Increase (Decrease) in Income Tax Payable |
-18,968.00 |
-5,009.00 |
|
Increase (Decrease) in Accrued Expenses |
-26,736.00 |
-23,253.00 |
|
Increase (Decrease) in Other Payables |
-1,485.00 |
1,851.00 |
|
Increase (Decrease) in Other Payable -
Related Parties |
6,419.00 |
1,413.00 |
|
Increase (Decrease) in Other Current
Liabilities |
-573.00 |
-3,047.00 |
|
Increase (Decrease) in Accrued Pension
Liabilities |
31,680.00 |
30,251.00 |
|
Net Cash Provided by (Used in) Operating Activities |
368,364.00 |
112,579.00 |
|
Cash Flows from Investing Activities |
|
|
|
Acquisition of Financial Assets as Fair Value through Profit
or Loss |
-4,147,800.00 |
-3,658,000.00 |
|
Proceeds from Disposal of Financial Assets as Fair Value
through Profit or Loss |
4,747,197.00 |
3,577,529.00 |
|
Proceeds from Disposal of Available-for-sale Financial Assets |
13,398.00 |
1,891.00 |
|
Capital Reduction of Financial Assets Carried at Cost |
1,750.00 |
1,500.00 |
|
Purchase of Property, Plant and Equipment |
-479,940.00 |
-119,625.00 |
|
Proceeds from Disposal of Property, Plant and Equipment |
185.00 |
763.00 |
|
Increase in Deferred Charges |
-8,222.00 |
-504.00 |
|
Decrease (Increase) in Restricted Assets |
-225.00 |
110,000.00 |
|
Net Cash Provided by (Used in) Investing Activities |
126,343.00 |
-86,446.00 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in Short-term Loans |
-319,557.00 |
139,912.00 |
|
Increase (Decrease) in Short-term Notes and Bills Payable |
-99,891.00 |
299,845.00 |
|
Proceeds from Long-term Debt |
900,444.00 |
50,366.00 |
|
Repayment of Long-term Debt |
-1,000,000.00 |
-700,000.00 |
|
Increase (Decrease) in Guarantee Deposits Received |
189.00 |
500.00 |
|
Cash Dividends Paid |
-62,402.00 |
-139,304.00 |
|
Net Cash Provided by (Used in) Financing Activities |
-581,217.00 |
-348,681.00 |
|
Net Increase (Decrease) in Cash and Cash Equivalents |
-86,510.00 |
-322,548.00 |
|
Cash and Cash Equivalents, Beginning of year |
183,747.00 |
506,295.00 |
|
Cash and Cash Equivalents, End of year |
97,237.00 |
183,747.00 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid |
18,004.00 |
18,706.00 |
|
Interest Paid- Excluding Capitalized Interest |
15,144.00 |
18,510.00 |
|
Income Tax Paid |
20,663.00 |
32,157.00 |
|
Non-cash Investing and Financing Activities |
|
|
|
Current Portion of Long-term Liabilities |
499,734.00 |
499,868.00 |
|
Investing Activities Affecting Both Cash and Non-cash Items |
|
|
|
Cash Paid for Acquisition of Property, Plant and Equipment |
|
|
|
Increase in Property, Plant and Equipment |
497,346.00 |
132,363.00 |
|
Increase (Decrease) in Payable for Equipment
Purchased |
-17,406.00 |
-12,738.00 |
|
Cash Paid for Acquisition of Property, Plant and
Equipment |
479,940.00 |
119,625.00 |
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.62.48 |
|
|
1 |
Rs.102.95 |
|
Euro |
1 |
Rs.84.60 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.