|
Report Date : |
11.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered Office : |
10F., No. 88, Cheng Gong 2nd Rd., Qian Zhen
District, Kaohsiung City 80661, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
02.04.1996 |
|
|
|
|
Com. Reg. No.: |
96975583 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Trading of metal products |
|
|
|
|
No. of Employees : |
Not Available |
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: |
|
|
Supplied Name: |
|
|
Trading Address: |
10F., No. 88,
Cheng Gong 2nd Rd., Qian Zhen District, Kaohsiung City 80661, Taiwan (R.O.C.) |
|
Supplied Address: |
|
|
Telephone Number: |
+886-7-332-2168 |
|
Fax Number: |
Notes: The exact name is as above. We contact with
the subject, subject introduced that the supplied address is the former
address, and the current address is as above.
|
Registered Name: |
China Steel Global Trading Corporation |
|
Registered Address: |
10F., No. 88, Cheng Gong 2nd Rd., Qian Zhen
District, Kaohsiung City 80661, Taiwan (R.O.C.) |
|
Date of Foundation: |
1996-4-2 |
|
Registration Number: |
96975583 |
|
Registry: |
Department of Commerce,
Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD
2,500,000,000 (USD 82,750,000) (As of 2014.2, 1 NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 1,788,298,300 (USD 59,192,673.73) |
|
Legal Representatives: |
Zongying Huang |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Notes: Subject declined to disclose its staff number; from
other source we cannot obtain the relevant information, either.
Subject was incorporated on
Change of Address
|
Former Address |
|
|
Current Address |
10F., No. 88, Cheng Gong 2nd Rd., Qian Zhen
District, Kaohsiung City 80661, Taiwan (R.O.C.) |
|
Name |
Subscription Shares |
|
China Steel Corporation |
178,824,232 |
The information above is that of subject’s major shareholders.
Shareholder Information:
|
Registered Name: |
China Steel Corporation |
|
Registered Address: |
No.1, Chung Kang Road, Lin Hai Ind. Dist., Hsiao
Kang, Kaohsiung 81233, Taiwan, R.O.C. |
|
Date of Foundation: |
1971—12-3 |
|
Registration Number: |
30414175 |
|
Registry: |
Joint Stock Company |
|
Registered Capital: |
NTD 170,000,000,000 (USD) (As of 2014.2, 1 NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 154,638,519,570 (USD ) |
|
Legal Representatives: |
Ruoqi Zou |
|
Legal Form: |
Joint Stock Company |
|
Principal Activities: |
China Steel Corporation is principally engaged in steel business. The Company
manufactures various steel products, including plate products, steel bars,
wire rod products, hot rolled products, cold rolled products, electro
galvanizing steel products, hot-dip galvanizing steel products and
electromagnetic steel sheets. The Company's products are applied to ships,
bridges, containers, trucks, steel structures, automobiles, furniture, home
appliances, hardware fittings, computers, motors and transformers, among
others. The Company distributes its products in the domestic market and to
overseas markets, including Hong Kong, Mainland China, Japan, Malaysia, South
Korea, Indonesia, Thailand, Vietnam and Singapore. |
|
Staff: |
About 9,400 Employees |
|
Listed at Stock Exchange: |
Yes (Public, TPE:2002) |
|
Date of Last Annual Return: |
2013-8-22 |
Parent Companies
|
Registered Name: |
China Steel Corporation |
|
Registered Address: |
No.1, Chung Kang Road, Lin Hai Ind. Dist.,
Hsiao Kang, Kaohsiung 81233, Taiwan, R.O.C. |
|
Date of Foundation: |
1971-12-3 |
|
Registration Number: |
30414175 |
|
Registry: |
Joint Stock Company |
|
Registered Capital: |
NTD 170,000,000,000 (USD) (As of 2014.2, 1 NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 154,638,519,570 (USD ) |
|
Legal Representatives: |
Ruoqi Zou |
|
Legal Form: |
Joint Stock Company |
|
Principal Activities: |
China Steel Corporation is principally engaged in steel business. The
Company manufactures various steel products, including plate products, steel bars,
wire rod products, hot rolled products, cold rolled products, electro
galvanizing steel products, hot-dip galvanizing steel products and
electromagnetic steel sheets. The Company's products are applied to ships,
bridges, containers, trucks, steel structures, automobiles, furniture, home
appliances, hardware fittings, computers, motors and transformers, among
others. The Company distributes its products in the domestic market and to
overseas markets, including Hong Kong, Mainland China, Japan, Malaysia, South
Korea, Indonesia, Thailand, Vietnam and Singapore. |
|
Staff: |
About 9,000 Employees |
|
Listed at Stock Exchange: |
Yes; (Public, TPE:2002) |
|
Date of Last Annual Return: |
2013-8-22 |
|
Telephone Number: |
+886-7-802-1111 |
|
Fax Number: |
+886-7-802-2511 |
Related Companies:
|
CSGT (SHANGHAI) CO., LTD.s ADD:
ADD: 21/F., Zhongxin Mansion, No. 1468,
Nanjing West Road, Shanghai, China Fax: +86-21-6289-6678 CSGT HONG KONG LIMITED Address : #1407-19 Des Voeux Road Central, Central, Hong
Kong Tel: +852-25231488 Fax: +852-25234748 CSGT (SINGAPORE) PTE,LTD. #14-01,MAS Building ,10 Shenton Way
Singapore 079117 Tel: +65-62238777~8 Fax: +65-62256054 Email: wesley@csgtsg.com.sg
CSGT METALS VIETNAM JOINT STOCK COMPANY Add: Lot VI – CSGT(SINGAPORE) PTE., LTD. BANGKOK
REPRESENTATIVE OFFICE Add: 1 MD Tower, 7th Floor, Room B, Soi
Bangna-Trat 25, Khwang Bangna, Khet angna, Bangkok 10260, Thailand Tel: +66-2-1864906 Fax: +66-2-1864905 CHUNG HONG STEEL Address: 317, Yu Liao Road, Chiao Tou District, Kaohsiung City 82544,
Taiwan, R.O.C. Tel: +886-7-611-7171 (10 lines) Fax: +886-7-611-0594 DRAGON STEEL Address: No.100, Longchang Rd., Longjing Village, Taichung County,
43401, Taiwan, R.O.C. Tel: +886-4-2630-6088 Fax: +886-4-2630-6066 C. S. ALUMINUM CORPORATION Address: No.17 Tung Lin Road, Hsiao Kang, Kaohsiung, 81260 Taiwan,
Republic of China Tel: +886-7-871-8666 CHINA STEEL STRUCTURE CO., LTD. Address: Headquarters: No.1, Chung-Kang Rd., Hsiao-Kang, Kaohsiung
81207, Taiwan (China Steel Structure Co., Ltd.) Tel: +886-7-802-3433 Fax: +886-7-801-9150 CHINA STEEL EXPRESS CORPORATION Address: 32F, No.8 Ming0Chuan 2nd Road, Kaohsiung, 806, Taiwan, R.O.C. Tel: +886-7-337-8888 Fax: +886-7-338-1310 CHINA STEEL MACHINERY CORPORATION Address: 3 Tai-Chi Road, Siaogang District, Kaohsiung, Taiwan Tel: +886-7-802-0111 Fax: +886-7-806-3833 CHINA ECOTEK CORPORATION Address：8th F, No.8
Ming0Chuan 2nd Road,Kaohsiung,806, Taiwan, R.O.C. Tel：+886-7-330-6138 Fax：+886-7-339-4016 CHC RESOURCES CORPORATION Address：10F, No.243,
I-Hsin 1st Rd., Chien Chen, Kaohsiung, 806, Taiwan, R.O.C. Tel：886-7-336-8377 Fax：886-7-336-8433 |
Core Management
Directors
|
1 |
|
|
Name |
Zongying Huang |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Ruoqi Zou |
|
Position |
Director |
|
3 |
|
|
Name |
Zhiyu Song |
|
Position |
Director |
|
4 |
|
|
Name |
Jigang Liu |
|
Position |
Director |
|
5 |
|
|
Name |
Longyuan Ni |
|
Position |
Director & Manager |
|
Date of Appointment: |
|
|
6 |
|
|
Name |
Hongnan Lin |
|
Position |
Supervisor |
Offices & Factories
|
|
Headquarters |
|
Add |
10F., No. 88, Cheng Gong 2nd Rd., Qian Zhen District, Kaohsiung City 80661,
Taiwan (R.O.C.) |
Production Information
Subject is a trader of metal products and etc without any production
activities
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Import, export and sales business of steel |
|
-- |
Import, export and sales business of industrial materials (Scrap metal and electronic materials) |
|
-- |
Introducing and trading business of iron and steel industry manufacturing
equipment, instruments and materials |
|
-- |
Agent of steel and aluminum products |
|
-- |
Import and export of stainless steel, aluminium sheet and secondary
processed products, etc |
|
-- |
Import and export business of mineral products, chemicals and
textiles, etc |
|
-- |
Storage business |
|
-- |
Offering the counseling advisory business services of introducing
domestic and foreign investment. ( Besides counseling in portfolio
investment) |
|
-- |
The technological cooperation and counseling advisory of above
investment. |
|
-- |
Import, export and sales business of food, miscellaneous goods,
(drinks). |
|
-- |
Import, export and sales business of agricultural products, animal by
products, aquatic product (fresh fishes). |
|
-- |
International Trading Business |
|
ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
It is introduced that subject purchases its products mainly in Taiwan domestic
market.
It is introduced that subject is the agent of China Steel Corporation,
Chung Hung Steel Co., Ltd. and CS Aluminum Corp., etc
It is introduced that subject also has other suppliers such as Dragon
Steel, China Steel Express Corporation, China Steel Machinery Corporation,
China Ecotek Corporation And Chc Resources Corporation, etc
The subject is mainly engaged in sales of
metal products and etc.
It is introduced that subject’s selling territory includes Europe and
Southeast Asia, and countries such as China, Japan, Australia, and the United
States, etc.
It is introduced that subject has related companies and service points
in many regions of the world for distribution.
It is introduced that subject’s major customers are construction
industry, manufacturers of machinery, equipment, automobile and tool and etc.
Major products
|
Product Type |
Details |
|
Carbon Steel |
Hot rolled steel Cold rolled steel Hot Dipped Galvanized Steel Hot Rolled Plate Galvanized Steel Sheet Electrical Steel Automobile and Home Applications Material Wire Rod/Rebar |
|
ALUMINUM |
Aluminum Plates Aluminum Sheets and Coils Aluminum Foil |
|
Stainless Steel |
HotRolled Stainless Steel Coil ColdRolled Stainless Steel Coil HotRolled Stainless Steel Plate ColdRolled Stainless Steel Plate Stainless Steel Wire Rod Stainless Steel Pipe Stainless Steel Processed Products. |
|
Work Roll |
-- |
|
Fire-Retardant Materials |
-- |
|
Ferro Alloys |
-- |
|
Others |
Steel Slabs Pig Iron |
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Metal products
and etc |
COD, CBD and etc |
100% |
Foreign Purchase
Subject has little
import.
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Metal products
and etc |
COD, CBD and etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Metal products
and etc |
CBD and etc |
100% |
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 (China Steel Corporation) from public files for reference.
Unit: NTD/000
|
Date |
2012-12-31 |
2011-12-31 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and
cash equivalents |
20,545,123.00 |
17,480,092.00 |
|
Financial
assets measured at fair value through profit or loss - current |
3,635,688.00 |
3,124,636.00 |
|
Available-for-sale
financial assets - current |
4,763,787.00 |
5,375,249.00 |
|
Held-to-maturity
financial assets - current |
0.00 |
60,550.00 |
|
Hedging
derivative assets - current |
45,950.00 |
115,768.00 |
|
Notes
receivable - net |
1,490,986.00 |
1,901,604.00 |
|
Accounts receivable
- net |
10,560,747.00 |
10,213,979.00 |
|
Other
receivables |
1,530,801.00 |
2,346,521.00 |
|
Other
financial assets - current |
4,237,454.00 |
3,710,158.00 |
|
Inventories |
84,282,534.00 |
115,961,466.00 |
|
Other
current assets |
13,776,310.00 |
16,306,055.00 |
|
Current
assets |
144,869,380.00 |
176,596,078.00 |
|
Funds and Investments |
|
|
|
Financial
assets measured at fair value through profit or loss - non current |
259.00 |
23,979.00 |
|
Available-for-sale
financial assets - non current |
3,579,165.00 |
3,369,657.00 |
|
Held-to-maturity
financial assets - non current |
185,159.00 |
109,171.00 |
|
Hedging
derivative assets - non current |
6,983.00 |
124,920.00 |
|
Financial
assets carried at cost - non current |
12,449,537.00 |
10,603,195.00 |
|
Debt
investments without active market - non current |
3,536,086.00 |
4,050,222.00 |
|
Equity
investments under equity method |
2,606,530.00 |
2,618,993.00 |
|
Investments
in real estate |
381,905.00 |
381,905.00 |
|
Prepayments
for long-term investments |
12,942.00 |
10,000.00 |
|
Investments |
3,001,377.00 |
3,010,898.00 |
|
Other financial
assets - non current |
33,943.00 |
2,119,688.00 |
|
Funds
and long-term investments |
22,792,509.00 |
23,411,730.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
20,136,446.00 |
19,469,760.00 |
|
Land
improvements |
4,382,861.00 |
4,385,107.00 |
|
Buildings
and structures |
85,530,928.00 |
76,278,334.00 |
|
Machinery
and equipment |
460,321,046.00 |
427,093,330.00 |
|
Transportation
equipment |
21,184,928.00 |
19,648,382.00 |
|
Other
facilities |
28,492,893.00 |
27,239,326.00 |
|
Revaluation
increment |
49,368,751.00 |
49,437,838.00 |
|
Cost and
revaluation increment |
669,417,853.00 |
623,552,077.00 |
|
Accumulated
depreciation |
-340,666,791.00 |
-317,415,604.00 |
|
Accumulated
impairment - fixed assets |
-405,559.00 |
-443,719.00 |
|
Construction
in process and prepayment for equipments |
108,359,520.00 |
96,851,192.00 |
|
Fixed
assets |
436,705,023.00 |
402,543,946.00 |
|
Intangible Assets |
|
|
|
Intangible
assets |
3,303,202.00 |
2,246,170.00 |
|
OtherAssets |
|
|
|
Rental
assets |
2,920,089.00 |
3,065,847.00 |
|
Idled
assets |
2,715,449.00 |
2,111,960.00 |
|
Guarantee
deposits paid |
431,779.00 |
428,431.00 |
|
Deferred
income tax assets - non current |
3,080,214.00 |
0.00 |
|
Other
assets - other |
1,074,343.00 |
1,281,453.00 |
|
Other
assets |
10,221,874.00 |
6,887,691.00 |
|
Assets |
617,891,988.00 |
611,685,615.00 |
|
Liabilities and
Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term
borrowings |
25,637,077.00 |
59,918,010.00 |
|
Short-term
notes and bills payable |
28,679,430.00 |
22,357,900.00 |
|
Financial
liabilities measured at fair value through profit or loss - current |
4,362.00 |
90.00 |
|
Hedging derivative
liabilities - current |
240,380.00 |
53,331.00 |
|
Notes
payable |
261,617.00 |
1,066,418.00 |
|
Accounts
payable |
10,332,163.00 |
10,131,244.00 |
|
Income tax
payable |
2,098,608.00 |
3,376,691.00 |
|
Accrued
expenses |
12,477,514.00 |
13,912,683.00 |
|
Other
payables |
9,175,241.00 |
8,456,717.00 |
|
Long-term
liabilities - current portion |
32,251,631.00 |
22,985,823.00 |
|
Other
current liabilities |
7,027,532.00 |
6,546,124.00 |
|
Current
liabilities |
128,185,555.00 |
148,805,031.00 |
|
Long term Liabilities |
|
|
|
Financial
liabilities measured at fair value through profit or loss - non current |
1,739.00 |
0.00 |
|
Hedging
derivative liabilities - non current |
86,829.00 |
42,475.00 |
|
Bonds
payable |
47,069,227.00 |
37,944,340.00 |
|
Long-term
borrowings |
124,039,226.00 |
100,347,180.00 |
|
Long-term
liabilities |
171,197,021.00 |
138,333,995.00 |
|
Reserves |
|
|
|
Reserve
for land revaluation increment tax |
10,240,123.00 |
10,194,138.00 |
|
Reserves |
10,240,123.00 |
10,194,138.00 |
|
Other Liabilities |
|
|
|
Pension reserve
/ accrued pension liability |
722,667.00 |
754,105.00 |
|
Deferred
income tax liabilities |
1,074,759.00 |
543,499.00 |
|
Other
liabilities - other |
972,505.00 |
946,910.00 |
|
Other
liabilities |
2,769,931.00 |
2,244,514.00 |
|
Liabilities |
312,392,630.00 |
299,577,678.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common
stock |
152,724,765.00 |
150,462,093.00 |
|
Preferred
stock |
382,680.00 |
382,680.00 |
|
Capital Surplus |
|
|
|
Capital
surplus - additional paid-in capital |
31,154,766.00 |
31,154,766.00 |
|
Capital
surplus - treasury stock transactions |
4,947,307.00 |
4,635,553.00 |
|
Capital surplus
- long-term equity investments |
563,356.00 |
449,287.00 |
|
Capital
surplus - other |
8,099.00 |
8,099.00 |
|
Capital
surplus |
36,673,528.00 |
36,247,705.00 |
|
Retained Earnings |
|
|
|
Legal
reserve |
54,778,577.00 |
52,829,209.00 |
|
Special
reserve |
7,615,701.00 |
7,615,701.00 |
|
Unappropriated
retained earnings |
5,961,915.00 |
19,606,971.00 |
|
Retained
earnings |
68,356,193.00 |
80,051,881.00 |
|
Stockholders' Equity
and Other adjustmen |
|
|
|
Cumulative
translation adjustments |
-393,229.00 |
17,192.00 |
|
Net loss
not recognized as pension cost |
-184,893.00 |
-230,590.00 |
|
Unrealized
gains (losses) on financial instruments |
2,458,247.00 |
3,020,919.00 |
|
Unrealized
Revaluation Increment |
26,750,124.00 |
26,757,590.00 |
|
Treasure
stock |
-8,415,348.00 |
-8,122,461.00 |
|
Equity
adjustments |
20,214,901.00 |
21,442,650.00 |
|
Total
Stockholders' Equities of Parent Company |
278,352,067.00 |
288,587,009.00 |
|
Minority
interest |
27,147,291.00 |
23,520,928.00 |
|
Stockholdersˉ
equity |
305,499,358.00 （USD
10,112,028,750） |
312,107,937.00 (USD 10,330,772,715) |
|
Number of
treasury stock acquired by the company and subsidiaries (unit: share) |
309,816,000.00 |
295,065,000.00 |
|
|
0.00 |
0.00 |
(As of 2014.2, 1 NTD = 0.0331 USD)
Unit: NTD/000
|
Date |
2012 |
2011 |
|
Operating income |
358,536,702.00 (USD 11,867,564,836) |
401,026,616.00 (USD 13,273,980,990) |
|
Operating
costs |
339,161,858.00 |
364,429,151.00 |
|
Gross
profit (loss) from operations |
19,374,844.00 |
36,597,465.00 |
|
Realized gains
on intercompany transactions |
31,236.00 |
33,390.00 |
|
Selling
expense |
4,585,976.00 |
4,666,332.00 |
|
General
and administrative expenses |
5,121,636.00 |
6,026,874.00 |
|
Research
and development expenses |
1,683,491.00 |
1,746,706.00 |
|
Operating
expenses |
11,391,103.00 |
12,439,912.00 |
|
Operating
income (loss) |
8,014,977.00 |
24,190,943.00 |
|
Non-Operating Income |
|
|
|
Interest
income |
422,510.00 |
333,668.00 |
|
Dividends |
288,315.00 |
319,067.00 |
|
Investment
income |
288,315.00 |
319,067.00 |
|
Gains on
sale of investments |
1,183,827.00 |
47,415.00 |
|
Foreign
exchange gains |
479,626.00 |
610,982.00 |
|
Reversal
of impairment loss on assets |
4,932.00 |
264,656.00 |
|
Miscellaneous
income |
1,065,981.00 |
1,228,717.00 |
|
Non-operating
revenues and gains |
3,445,191.00 |
2,804,505.00 |
|
Non-Operating Expenses |
|
|
|
Interest
expense |
2,790,260.00 |
2,059,062.00 |
|
Losses
from long-term equity investments under the equity method |
230,005.00 |
434,947.00 |
|
Investment
loss |
230,005.00 |
434,947.00 |
|
Miscellaneous
disbursements |
758,970.00 |
1,136,456.00 |
|
Non-operating
expenses and losses |
3,779,235.00 |
3,630,465.00 |
|
Income
from continuing operations before income tax |
7,680,933.00 |
23,364,983.00 |
|
Income tax
expense (benefit) |
1,291,426.00 |
2,534,793.00 |
|
Income
from continuing operations |
6,389,507.00 |
20,830,190.00 |
|
Consolidated
net income attributable to parent company |
5,811,490.00 |
19,493,679.00 |
|
Minority
interest income |
578,017.00 |
1,336,511.00 |
|
Consolidated
net income |
6,389,507.00 |
20,830,190.00 |
|
Primary Earnings per
Share |
|
|
|
Primary
earnings per share |
0.38 |
1.34 |
|
Diluted earnings per
share |
|
|
|
Diluted
earnings per share |
0.38 |
1.33 |
(As of 2014.2, 1 NTD = 0.0331 USD)
|
Date |
2012 |
2011 |
|
Cash Flows from Operating Activities - Indirect Method |
|
|
|
Consolidated Net Income (Loss) |
6,389,507.00 |
20,830,190.00 |
|
Adjustments to Reconcile Net Income to Net Cash Provided by
(Used in) Operating Activities |
|
|
|
Depreciation Expense |
28,472,930.00 |
26,138,374.00 |
|
Amortization Expense |
224,527.00 |
342,382.00 |
|
Share-based Compensation |
0.00 |
101,522.00 |
|
Loss (Gain) on Decline (Recovery) in Market Value,
Scrap and Obsolescence of Inventories |
2,957,291.00 |
5,109,070.00 |
|
Investment Loss (Income) Recognized under Equity
Method |
229,786.00 |
435,181.00 |
|
Cash Dividends Received from Investments Accounted
for under Equity Method |
61,357.00 |
49,712.00 |
|
Loss (Gain) on Disposal of Investments |
-1,388,735.00 |
-314,108.00 |
|
Impairment Losses on Financial Asset |
70,255.00 |
133,459.00 |
|
Impairment Loss on Non-Financial Assets |
30,028.00 |
14,853.00 |
|
Reversal of Impairment Loss on Non-Financial Assets |
-39,773.00 |
-353,305.00 |
|
Realized Loss (Gain) on Intercompany Transactions |
-31,236.00 |
-33,390.00 |
|
Loss (Gain) on Deferred Income Tax |
-831,063.00 |
-884,969.00 |
|
Other Adjustments to Reconcile Net Income |
700,479.00 |
1,197,769.00 |
|
Changes in Operating Assets and Liabilities |
|
|
|
Decrease (Increase) in Financial
Assets Held for Trading |
-102,045.00 |
524,897.00 |
|
Decrease (Increase) in Notes Receivable |
410,618.00 |
-5,653.00 |
|
Decrease (Increase) in Accounts Receivable |
-346,768.00 |
-2,390,864.00 |
|
Decrease (Increase) in Other Receivables |
782,655.00 |
-352,065.00 |
|
Decrease (Increase) in Inventories |
29,036,689.00 |
-31,410,614.00 |
|
Decrease (Increase) in Other Current Assets |
1,000,947.00 |
579,218.00 |
|
Increase (Decrease) in Notes Payable |
-804,801.00 |
590,148.00 |
|
Increase (Decrease) in Accounts Payable |
200,919.00 |
2,478.00 |
|
Increase (Decrease) in Income Tax Payable |
-1,209,803.00 |
-1,894,141.00 |
|
Increase (Decrease) in Accrued Expenses |
-1,438,896.00 |
-1,859,921.00 |
|
-1,900,382.00 |
604,801.00 |
|
|
Increase (Decrease) in Other Current
Liabilities |
471,166.00 |
-632,907.00 |
|
Net Cash Provided by (Used in) Operating Activities |
62,945,652.00 |
16,522,117.00 |
|
Cash Flows from Investing Activities |
|
|
|
Acquisition of Financial Assets as Fair Value through Profit
or Loss |
-5,459,020.00 |
-15,264,074.00 |
|
Proceeds from Disposal of Financial Assets as Fair Value
through Profit or Loss |
5,225,317.00 |
16,554,121.00 |
|
Acquisition of Available-for-sale Financial Assets |
-5,151,785.00 |
-5,759,289.00 |
|
Proceeds from Disposal of Available-for-sale Financial Assets |
7,043,002.00 |
6,390,619.00 |
|
Acquisition of Debt Investments without Active Market |
-29,211.00 |
-14,221.00 |
|
Proceeds from Disposal of Debt Investments without Active
Market |
0.00 |
1,439.00 |
|
Acquisition of Held-to-maturity Financial Assets |
-81,930.00 |
-8,828.00 |
|
Proceeds from Disposal of Held-to-maturity Financial Assets |
59,155.00 |
39,351.00 |
|
Acquisition of Financial Assets Carried at Cost |
-2,632,577.00 |
-4,581,248.00 |
|
Proceeds from Disposal of Financial Assets Carried at Cost |
514,475.00 |
217,707.00 |
|
Capital Reduction of Financial Assets Carried at Cost |
47,448.00 |
22,566.00 |
|
Acquisition of Long-term Investments under Equity Method |
-277,000.00 |
-152,669.00 |
|
Proceeds from Disposal of Long-term Investments under Equity
Method |
9,033.00 |
13,460.00 |
|
Decrease (Increase) in Prepayments for Long-term Investments |
-13,119.00 |
-10,000.00 |
|
Acquisition of Subsidiaries |
-125,724.00 |
-426,558.00 |
|
Proceeds from Capital Reduction of Long-term Investments
under Equity Method |
26,950.00 |
0.00 |
|
Purchase of Property, Plant and Equipment |
-62,548,268.00 |
-57,197,713.00 |
|
Proceeds from Disposal of Property, Plant and Equipment |
66,578.00 |
61,384.00 |
|
Decrease (Increase) in Refundable Deposits |
-3,347.00 |
-208,405.00 |
|
Decrease (Increase) in Restricted Assets |
-24,797.00 |
-1,049,981.00 |
|
Purchase of Intangible Assets |
-1,201,034.00 |
-80,551.00 |
|
Decrease (Increase) in Other Financial Assets |
1,254,318.00 |
-915,013.00 |
|
Decrease (Increase) in Other Assets |
57,573.00 |
106,061.00 |
|
Net Cash Provided by (Used in) Investing Activities |
-63,243,963.00 |
-62,261,842.00 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in Short-term Loans |
-34,196,112.00 |
12,814,866.00 |
|
Increase (Decrease) in Short-term Notes and Bills Payable |
6,321,530.00 |
5,495,913.00 |
|
Proceeds from Issuance of Bonds |
20,595,100.00 |
19,700,000.00 |
|
Repayments of Bonds |
-11,275,000.00 |
-13,700,000.00 |
|
Proceeds from Long-term Debt |
55,328,586.00 |
15,774,514.00 |
|
Repayments of Long-term Debt |
-28,258,485.00 |
-9,629,482.00 |
|
Increase (Decrease) in Long-term Liabilities |
6,970,012.00 |
19,417,060.00 |
|
Increase (Decrease) in Other Liabilities |
54,636.00 |
75,016.00 |
|
Cash Dividends Paid |
-14,738,479.00 |
-26,103,400.00 |
|
Proceeds from Issuance of Shares |
0.00 |
23,738,755.00 |
|
Purchase of Treasury Stock |
-547,903.00 |
-680,281.00 |
|
Proceeds from Sale of Treasury Stock |
48,415.00 |
916,090.00 |
|
Changes in Minority Interest |
3,061,042.00 |
-1,437,316.00 |
|
Net Cash Provided by (Used in) Financing Activities |
3,363,342.00 |
46,381,735.00 |
|
Net Increase (Decrease) in Cash and Cash Equivalents |
3,065,031.00 |
642,010.00 |
|
Cash and Cash Equivalents, Beginning of year |
17,480,092.00 |
16,838,082.00 |
|
Cash and Cash Equivalents, End of year |
20,545,123.00 |
17,480,092.00 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid |
3,421,283.00 |
2,867,376.00 |
|
Capitalized Interest |
-718,816.00 |
-786,209.00 |
|
Interest Paid- Excluding Capitalized Interest |
2,702,467.00 |
2,081,167.00 |
|
Income Tax Paid |
3,332,292.00 |
5,313,903.00 |
|
Non-cash Investing and Financing Activities |
|
|
|
Current Portion of Long-term Interest-bearing Liabilities |
32,251,631.00 |
22,985,823.00 |
|
Investing Activities Affecting Both Cash and Non-cash Items |
|
|
|
Cash Paid for Acquisition of Property, Plant and Equipment |
|
|
|
Increase in Property, Plant and Equipment |
63,951,432.00 |
53,159,934.00 |
|
Increase (Decrease) in Payable for Equipment
Purchased |
-1,403,164.00 |
4,037,779.00 |
|
Cash Paid for Acquisition of Property, Plant and
Equipment |
62,548,268.00 |
57,197,713.00 |
|
Other Supplemental Information |
|
|
|
Total cash dividends payable to stockholders |
15,244,506.00 |
26,996,676.00 |
|
Acquisition of cash dividends distributed by parent company |
-497,993.00 |
-887,533.00 |
|
Decrease (Increase) in dividends payable |
-8,034.00 |
-5,743.00 |
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.
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.19 |
|
|
1 |
Rs.102.14 |
|
Euro |
1 |
Rs.84.74 |
INFORMATION DETAILS
|
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.