|
Report Date : |
08.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
TUNG HO TEXTILE CO., LTD. |
|
|
|
|
Registered Office : |
No.227, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
11.09.1959 |
|
|
|
|
Com. Reg. No.: |
73141105 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and sale of textile materials |
|
|
|
|
No. of Employees : |
300 |
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. 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: |
|
|
Former Name: |
Tung Ho Spinning Weaving & Dyeing Co., Ltd. |
|
Supplied Name: |
|
|
Trading Address: |
No.227,
Industrial Rd., Madou Dist., Tainan City 721, Taiwan (R.O.C.) |
|
Supplied Address: |
NO.227,
INDUSTRIAL ROAD, MA-DUO TOWN, TAINAN HSING, TAIWAN R.O.C, |
|
Telephone Number: |
+886-6-570-3211 |
|
Fax Number: |
|
|
E-mail: |
|
|
Website: |
Notes: The exact name and address are as
above.
Subject was incorporated
on 1959-9-11 with registered number 73141105
as Joint Stock Company in
Taiwan.
Subject listed on Taiwan Stock Exchange on 1976-2-2.
Change of Name
|
Former Chinese Name |
東和紡織印染股份有限公司 |
|
Current Chinese Name |
東和紡織股份有限公司 |
|
Former English Name |
Tung Ho Spinning Weaving & Dyeing Co., Ltd. |
|
Current English Name |
Tung Ho Textile Co., Ltd. |
|
Name |
Subscription Shares |
|
Yu Shun Investment Development Co., Ltd. (Literal Translation) |
28,000,626 |
|
Rukang Hu |
|
|
578 |
|
|
Ho Yuen Trading Corporation |
1,520,000 |
The information above is that of subject’s major shareholders.
|
1 |
|
|
Registered Name: |
Yu Shun Investment Development Co., Ltd. (Literal Translation) |
|
Registered Address: |
13F., No.376, Sec. 4, Ren-Ai Rd., Da-An Dist.,
Taipei City 10693, Taiwan (R.O.C.) |
|
Date of Foundation: |
1990-5-16 |
|
Registration Number: |
23641203 |
|
Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C. |
|
Registered Capital: |
NTD 870,800,000 (USD 29,607,200) (As of 2014.01, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 870,800,000 (USD 29,607,200) |
|
Legal Representatives: |
Shuying Cai |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2013-8-19 |
|
2 |
|
|
Registered Name: |
Ho Yuen Trading Corporation |
|
Registered Address: |
13F., No.376, Sec. 4, Ren-Ai Rd., Da-An
Dist., Taipei City 10693, Taiwan (R.O.C.) |
|
Date of Foundation: |
2010-6-15 |
|
Registration Number: |
25138262 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 1,000,000 (USD
34,000) (As of 2014.01, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 1,000,000 (USD 34,000) |
|
Legal Representatives: |
Ziyang Chen |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2013-6-10 |
Factory
|
Name: |
Madou Factory |
|
Address: |
No.227, Industrial Rd., Madou Dist., Tainan
City 721, Taiwan (R.O.C.) |
|
Date of Foundation: |
1990-1-16 |
|
Date of Registration: |
1992-4-15 |
|
Factory Registration Number: |
99657988 |
|
Factory Manager: |
Shuying Cai |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2010-7-5 |
|
Major Products: |
111 spinning |
Office
|
Name: |
Taipei Office |
|
Address: |
13F., No.376, Sec. 4, Ren’ai Rd., Da’an Dist., Taipei City 106, Taiwan
(R.O.C.) |
|
Tel: |
+886-2-2700-1840 |
|
Fax: |
+886-2-2706-0967 |
Core Management
Directors
|
1 |
|
|
Name |
Shuying Cai |
|
Position |
Board Chairman/ Manager |
|
Date of Appointment |
2011-5-11 |
|
2 |
|
|
Name |
Furen Cai |
|
Position |
Deputy Chairman |
|
3 |
|
|
Name |
Zhiwen Zheng |
|
Position |
Director |
|
4 |
|
|
Name |
Ruiqi Huang |
|
Position |
Director |
|
5 |
|
|
Name |
Rukang Hu |
|
Position |
Director |
|
7 |
|
|
Name |
Chenggeng Chen |
|
Position |
|
|
7 |
|
|
Name |
Jinfa Huang |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 300 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
No.227, Industrial Rd., Madou Dist., Tainan City 721, Taiwan (R.O.C.) |
Production
Information
Subject is engaged in manufacturing of textile materials
Subject has a factory (land area 61,000 square meters; building area
20,000 square meters) in Tainan City, Taiwan for production.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Printing, dyeing and processing of natural fiber |
|
-- |
Printing, dyeing and processing of textile fiber |
|
-- |
Manufacturing and processing of polyester cotton |
|
-- |
Import and export of related raw materials |
|
-- |
Import and export business |
|
C301010 |
Spinning industry |
|
C802020 |
Manufacturing and sale of artificial fiber |
|
A102040 |
Leisure agriculture |
|
A401010 |
Ranching industry |
|
H701020 |
Developing and leasing of industrial factory building |
|
H701040 |
Developing of specific professional area |
|
F209030 |
Retail of toy and recreational goods |
|
F203010 |
Retail of food and beverage |
|
F203020 |
Retail of alcohol and tobacco |
|
F501060 |
Restaurant industry |
|
F501030 |
Beverage store |
|
F501050 |
Hotel industry |
|
F601010 |
Intellectual property business |
|
I102010 |
Investment business |
|
J701020 |
Amusement park |
|
J601010 |
Literature and fine arts exhibition |
|
J801030 |
Athletics and leisure stadium |
|
JB01010 |
Exhibition service |
|
G801010 |
Warehouse industry |
|
H703010 |
Leasing plant |
|
H703020 |
Leasing warehouse |
|
H703030 |
Leasing office building |
|
H703040 |
Leasing booth |
|
H703050 |
Leasing meeting room |
|
H701010 |
Developing residence and building |
|
H701050 |
Invest in public construction |
|
IZ06010 |
Cargo handling and packaging business |
|
ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
The raw materials for production are mostly purchased in domestic
market.
It is introduced that some production facilities are imported from
Southeast Asia
Subject is engaged in sale of textile
materials
The major products sold by subject include pure cotton, blended yarn and
slub yarn
The products sold by subject are applied to manufacturing of garment,
garment, curtain, upholstery and bed sheet
Subject’s sales regions include domestic market, Southeast Asia, Europe
and America
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Raw materials |
Cash, T/T |
100% |
Foreign Purchase
|
Terms |
Proportion |
|
|
Facilities |
L/C, T/T |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Textile |
Cash, T/T |
100% |
Export
|
Terms |
Proportion |
|
|
L/C, T/T |
100% |
|
|
2012-12-31 |
2011-12-31 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
316,291.00 |
208,543.00 |
|
Available-for-sale financial assets - current |
127,037.00 |
68,300.00 |
|
Notes receivable - net |
26,604.00 |
6,790.00 |
|
Accounts receivable - net |
1,639.00 |
5,359.00 |
|
Other receivables |
4,003.00 |
6,157.00 |
|
Inventories |
485,780.00 |
556,877.00 |
|
Other prepayments |
6,185.00 |
9,665.00 |
|
|
0.00 |
2,419.00 |
|
Other current assets |
18,175.00 |
12,503.00 |
|
Current assets |
985,714.00 |
876,613.00 |
|
Funds and Investments |
|
|
|
Available-for-sale financial assets - non current |
35,254.00 |
29,050.00 |
|
Financial assets carried at cost - non current |
11,725.00 |
12,271.00 |
|
Equity investments under equity method |
0.00 |
0.00 |
|
Investments |
0.00 |
0.00 |
|
Other financial assets - non current |
83.00 |
570.00 |
|
Funds and long-term investments |
47,062.00 |
41,891.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
494,712.00 |
494,712.00 |
|
Buildings and structures |
457,318.00 |
457,075.00 |
|
Machinery and equipment |
1,735,206.00 |
1,628,155.00 |
|
Transportation equipment |
6,838.00 |
6,838.00 |
|
Office equipment |
3,100.00 |
2,948.00 |
|
Rental assets - land |
110,171.00 |
110,171.00 |
|
Rental assets - buildings |
266,323.00 |
231,766.00 |
|
Rental assets - other |
16,923.00 |
16,923.00 |
|
Other facilities |
332,991.00 |
331,324.00 |
|
Revaluation increment |
2,082,559.00 |
1,975,967.00 |
|
Cost and revaluation increment |
5,506,141.00 |
5,255,879.00 |
|
Accumulated depreciation |
-2,207,349.00 |
-2,111,839.00 |
|
Accumulated impairment - fixed assets |
0.00 |
0.00 |
|
Construction in process and prepayment for equipments |
5,594.00 |
58,242.00 |
|
Fixed assets |
3,304,386.00 |
3,202,282.00 |
|
Intangible Assets |
|
|
|
Deferred pension cost |
0.00 |
0.00 |
|
Intangible assets |
0.00 |
0.00 |
|
OtherAssets |
|
|
|
Rental assets |
46,076.00 |
46,330.00 |
|
Other assets - other |
27,600.00 |
0.00 |
|
Other assets |
73,676.00 |
46,330.00 |
|
Assets |
4,410,838.00 |
4,167,116.00 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowings |
266,094.00 |
101,290.00 |
|
Notes payable |
219.00 |
0.00 |
|
Accounts payable |
20,193.00 |
31,988.00 |
|
Accrued expenses |
53,481.00 |
50,290.00 |
|
Other payables |
2,455.00 |
2,333.00 |
|
Advance receipts |
52,287.00 |
112,592.00 |
|
Other current liabilities |
0.00 |
0.00 |
|
Current liabilities |
394,729.00 |
298,493.00 |
|
Long term Liabilities |
|
|
|
Long-term borrowings |
0.00 |
0.00 |
|
Long-term notes and accounts payable |
0.00 |
0.00 |
|
Long-term liabilities |
0.00 |
0.00 |
|
Reserves |
|
|
|
Reserve for land revaluation increment tax |
638,335.00 |
607,993.00 |
|
Reserves |
638,335.00 |
607,993.00 |
|
Other Liabilities |
|
|
|
Pension reserve / accrued pension liability |
105,761.00 |
105,841.00 |
|
Guarantee deposits received |
42,658.00 |
44,918.00 |
|
Other liabilities |
148,419.00 |
150,759.00 |
|
Liabilities |
1,181,483.00 |
1,057,245.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
2,200,000.00 |
2,200,000.00 |
|
Capital Surplus |
|
|
|
Capital surplus - long-term equity investments |
986.00 |
986.00 |
|
Capital surplus |
986.00 |
986.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
24,727.00 |
0.00 |
|
Special reserve |
104,445.00 |
0.00 |
|
Unappropriated retained earnings |
143,514.00 |
247,271.00 |
|
Retained earnings |
272,686.00 |
247,271.00 |
|
Stockholders' Equity and Other adjustment |
|
|
|
Net loss not recognized as pension cost |
-13,414.00 |
-15,145.00 |
|
Unrealized gains (losses) on financial instruments |
-71,634.00 |
-89,300.00 |
|
Unrealized Revaluation Increment |
840,731.00 |
764,480.00 |
|
|
0.00 |
1,579.00 |
|
Equity adjustments |
755,683.00 |
661,614.00 |
|
Stockholders - equity |
3,229,355.00 (USD
109,798,070.00) |
3,109,871.00 (USD
105,735,614.00) |
|
Number of treasury stock acquired by the company and subsidiaries
(unit: share) |
0.00 |
0.00 |
|
|
0.00 |
0.00 |
(As of 2014.01, 1 NTD = 0.0340 USD)
Unit: NTD/000
|
|
2012 |
2011 |
|
Sales |
1,347,194.00 (USD
45,804,596.00) |
1,230,289.00 (USD
41,829,826.00) |
|
Sales returns |
14,541.00 |
25,602.00 |
|
Sales discounts and allowances |
3,765.00 |
4,006.00 |
|
Sales |
1,328,888.00 |
1,200,681.00 |
|
Rental revenue |
92,818.00 |
96,487.00 |
|
Rental revenue |
92,818.00 |
96,487.00 |
|
Operating income |
1,421,706.00 |
1,297,168.00 |
|
Cost of sales |
1,270,589.00 |
1,071,442.00 |
|
Cost of rental |
14,632.00 |
14,738.00 |
|
Cost of rental |
14,632.00 |
14,738.00 |
|
Operating costs |
1,285,221.00 |
1,086,180.00 |
|
Gross profit (loss) from operations |
136,485.00 |
210,988.00 |
|
Selling expense |
26,069.00 |
21,211.00 |
|
General and administrative expenses |
44,298.00 |
50,839.00 |
|
Operating expenses |
70,367.00 |
72,050.00 |
|
Operating income (loss) |
66,118.00 |
138,938.00 |
|
Non-Operating Income |
|
|
|
Interest income |
251.00 |
410.00 |
|
Dividends |
5,135.00 |
7,761.00 |
|
Investment income |
5,135.00 |
7,761.00 |
|
Gains on disposal of fixed assets |
1,278.00 |
844,457.00 |
|
Gains on sale of investments |
5,597.00 |
0.00 |
|
Foreign exchange gains |
5,214.00 |
0.00 |
|
Rent income |
2,055.00 |
5,765.00 |
|
Revaluation gain on financial assets |
0.00 |
0.00 |
|
Miscellaneous income |
3,694.00 |
5,139.00 |
|
Non-operating revenues and gains |
23,224.00 |
863,532.00 |
|
Non-Operating Expenses |
|
|
|
Interest expense |
2,745.00 |
6,544.00 |
|
Losses from long-term equity investments under the equity method |
0.00 |
0.00 |
|
Other investment loss |
0.00 |
0.00 |
|
Investment loss |
0.00 |
0.00 |
|
Loss on disposal of fixed assets |
10.00 |
7,423.00 |
|
Loss on sale of investments |
0.00 |
3,228.00 |
|
Foreign exchange losses |
0.00 |
5,720.00 |
|
Impairment loss on assets |
369.00 |
0.00 |
|
Miscellaneous disbursements |
475.00 |
4,773.00 |
|
Non-operating expenses and losses |
3,599.00 |
27,688.00 |
|
Income from continuing operations before income tax |
85,743.00 |
974,782.00 |
|
Income tax expense (benefit) |
-5,672.00 |
-1,962.00 |
|
Income from continuing operations |
91,415.00 |
976,744.00 |
|
Income (loss) from discontinued operations |
0.00 |
205,826.00 |
|
Net income (loss) |
91,415.00 (USD
3,108,110.00) |
1,182,570.00 (USD
40,207,380.00) |
|
Primary Earnings per Share |
|
|
|
Income (loss) from continuing operations |
0.42 |
4.44 |
|
Income (loss) from discontinued operations |
0.00 |
0.94 |
|
Primary earnings per share |
0.42 |
5.38 |
|
Diluted earnings per share |
|
|
|
Income (loss) from continuing operations |
0.42 |
4.44 |
|
Income (loss) from discontinued operations |
0.00 |
0.94 |
|
Diluted earnings per share |
0.42 |
5.38 |
(As of 2014.01, 1 NTD = 0.0340 USD)
Unit: NTD/000
|
|
2012 |
2011 |
|
Cash Flows from Operating Activities - Indirect Method |
|
|
|
Net Income (Loss) |
91,415.00 |
1,182,570.00 |
|
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in)
Operating Activities |
|
|
|
Depreciation Expense |
99,787.00 |
96,930.00 |
|
Provision (Reversal of Provision) for Bad Debts Losses |
-133.00 |
-85.00 |
|
Loss (Gain) on Decline (Recovery) in Market Value, Scrap and
Obsolescence of Inventories |
-32,468.00 |
35,947.00 |
|
Loss (Gain) on Disposal of Property, Plant and Equipment |
-1,268.00 |
-837,034.00 |
|
Loss (Gain) on Disposal of Investments |
-5,597.00 |
3,226.00 |
|
Impairment Losses on Financial Asset |
369.00 |
0.00 |
|
Loss (Gain) on Deferred Income Tax |
-5,672.00 |
-1,962.00 |
|
Other Adjustments to Reconcile Net Income |
0.00 |
-211,932.00 |
|
Changes in Operating Assets and Liabilities |
|
|
|
Decrease (Increase) in Notes Receivable |
-19,786.00 |
149,562.00 |
|
Decrease (Increase) in Accounts Receivable |
3,723.00 |
-117.00 |
|
Decrease (Increase) in Other Receivables |
2,256.00 |
-1,359.00 |
|
Decrease (Increase) in Inventories |
103,564.00 |
-156,513.00 |
|
Decrease (Increase) in Other Prepayments |
3,480.00 |
-6,697.00 |
|
Decrease (Increase) in Other Operating Assets |
0.00 |
0.00 |
|
Increase (Decrease) in Notes Payable |
219.00 |
-2,263.00 |
|
Increase (Decrease) in Accounts Payable |
-11,795.00 |
13,726.00 |
|
Increase (Decrease) in Accrued Expenses |
3,192.00 |
3,240.00 |
|
Increase (Decrease) in Other Payables |
272.00 |
-17,648.00 |
|
Increase (Decrease) in Receipts in Advance |
-94,107.00 |
-209,884.00 |
|
Increase (Decrease) in Accrued Pension Liabilities |
1,651.00 |
4,408.00 |
|
Net Cash Provided by (Used in) Operating Activities |
139,102.00 |
44,115.00 |
|
Cash Flows from Investing Activities |
|
|
|
Acquisition of Available-for-sale Financial Assets |
-88,430.00 |
-140,649.00 |
|
Proceeds from Disposal of Available-for-sale Financial Assets |
46,753.00 |
138,016.00 |
|
Proceeds from Capital Reduction of Available-for-Sale Financial Assets |
0.00 |
1.00 |
|
Capital Reduction of Financial Assets Carried at Cost |
177.00 |
0.00 |
|
Proceeds from Disposal of
Non-current Assets Classified as Held for Sale |
1,558.00 |
781,821.00 |
|
Purchase of Property, Plant and Equipment |
-60,843.00 |
-224,287.00 |
|
Proceeds from Disposal of Property, Plant and Equipment |
0.00 |
0.00 |
|
Increase (Decrease) in Receipts in Advance-Disposal of Assets |
0.00 |
0.00 |
|
Decrease (Increase) in Refundable Deposits |
487.00 |
4,915.00 |
|
Decrease (Increase) in Other Assets |
-27,600.00 |
0.00 |
|
Other Investing Activities |
0.00 |
529,632.00 |
|
Net Cash Provided by (Used in) Investing Activities |
-127,898.00 |
1,089,449.00 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in Short-term Loans |
164,804.00 |
-297,405.00 |
|
Repayment of Long-term Debt |
0.00 |
-366,140.00 |
|
Increase (Decrease) in Guarantee Deposits Received |
-2,260.00 |
-1,366.00 |
|
Cash Dividends Paid |
-66,000.00 |
0.00 |
|
Other Financing Activities |
0.00 |
-470,096.00 |
|
Net Cash Provided by (Used in) Financing Activities |
96,544.00 |
-1,135,007.00 |
|
Net Increase (Decrease) in Cash and Cash Equivalents |
107,748.00 |
-1,443.00 |
|
Cash and Cash Equivalents, Beginning of year |
208,543.00 |
209,986.00 |
|
Cash and Cash Equivalents, End of year |
316,291.00 |
208,543.00 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid- Excluding Capitalized Interest |
2,755.00 |
9,201.00 |
|
Income Tax Paid |
0.00 |
0.00 |
|
Non-cash Investing and Financing Activities |
|
|
|
Current Portion of Long-term Liabilities |
0.00 |
0.00 |
|
Property, Plant and Equipment Transferred to Non-current Assets
Classified as Held for Sale |
0.00 |
0.00 |
|
Other Supplemental Information |
|
|
|
Transfer of short-term debt to liabilities associated with non-current
assets held for sale |
0.00 |
0.00 |
|
Transfer of long-term debt to liabilities associated with non-current
assets held for sale |
0.00 |
0.00 |
|
Transfer of advance receipts to liabilities associated with
non-current assets held for sale |
0.00 |
0.00 |
|
Transfer of reserve for land revaluation increment tax to liab.
associated with non-C.A. held for S. |
0.00 |
0.00 |
|
Transfer of unrealized revaluation increments to equities associated
with non-C.A. held for sale |
0.00 |
0.00 |
|
Transfer of inventories to non-current assets held for sale |
0.00 |
0.00 |
|
Increase Property Plant Equipment |
60,693.00 |
224,436.00 |
|
Changes Payable Equipment Purchased |
150.00 |
-149.00 |
|
Changes Long Term Payable |
0.00 |
0.00 |
|
Net cash provided used discontinued operations |
0.00 |
0.00 |
|
Cash Paid Acquisition Property Plant Equipment |
60,843.00 |
224,287.00 |
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.: |
058448 |
|
Debtor Name: |
Tung Ho Textile Co., Ltd. |
|
Document Number: |
826518 |
|
Date of Registration: |
1998-6-29 |
|
Date of Alteration: |
2010-11-4 |
|
Status: |
Paid off |
|
2 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
086548 |
|
Debtor Name: |
Tung Ho Textile Co., Ltd. |
|
Document Number: |
09505083880 |
|
Date of Registration: |
2006-3-8 |
|
Date of Alteration: |
2010-10-21 |
Lawsuit
Up to date of reporting, no existing or latent litigation
of the subject has been found.
|
Name |
Mr. Zhang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.32 |
|
|
1 |
Rs.101.78 |
|
Euro |
1 |
Rs.84.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.