|
Report Date : |
03.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
JINTEX
CORPORATION LTD. |
|
|
|
|
Registered Office : |
12F, No.126, Sec.4,Nanking East Road, Taipei
105 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Date of Incorporation : |
28.12.1978 |
|
|
|
|
Com. Reg. No.: |
12207266 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
· engaged in manufacturing specialty chemicals bearing the brand name own brand LaFanta® & its products are applied to textile and leather dyeing and finishing as well as paper making and electronic industry · Engaged in manufacturing and sales of all kinds of interfacial agents, emulgators (besides toxic products) · Engaged in manufacturing and sales of all kinds of industrial specialty chemicals, auxiliaries and related materials |
|
|
|
|
No of Employees : |
About 150 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 : |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
Taiwan ECONOMIC OVERVIEW
Taiwan has a dynamic capitalist economy with gradually
decreasing government guidance of investment and foreign trade. Exports, led by
electronics, machinery, and petrochemicals have provided the primary impetus
for economic development. This heavy dependence on exports exposes the economy
to fluctuations in world demand. Taiwan's diplomatic isolation, low birth rate,
and rapidly aging population are other major long-term challenges. Free trade
agreements have proliferated in East Asia over the past several years, and
following the landmark Economic Cooperation Framework Agreement (ECFA) signed
with China in June 2010, Taiwan in July 2013 signed a free trade deal with New
Zealand—Taipei’s first-ever with a country with which it does not maintain
diplomatic relations—and in November inked a trade pact with Singapore.
Negotiations continue on follow-on components of ECFA regarding trade in goods
and a dispute resolution mechanism; a trade in services agreement is under
review in the legislature. Taiwan's Total Fertility rate of just over one child
per woman is among the lowest in the world, raising the prospect of future
labor shortages, falling domestic demand, and declining tax revenues. Taiwan's
population is aging quickly, with the number of people over 65 accounting for
11.2% of the island's total population as of 2012. The island runs a large
overall trade surplus largely because of its surplus with China, and its
foreign reserves are the world's sixth largest, behind China, Japan, Saudi
Arabia, Russia, and Switzerland. In 2006 China overtook the US to become
Taiwan's second-largest source of imports after Japan. China is also the
island's number one destination for foreign direct investment. Taiwan since
2009 has gradually loosened rules governing Chinese investment on the island,
and has also secured greater market access for its investors in the mainland.
In August 2012, Taiwan Central Bank signed a memorandum of understanding on
cross-Strait currency settlement with its Chinese counterpart. The MOU allows
for the direct settlement of Chinese RMB and the New Taiwan dollar across the
Strait, which could help develop Taiwan into a local RMB hub. Closer economic
links with the mainland bring greater opportunities for the Taiwan economy, but
also poses new challenges as the island becomes more economically dependent on
China while political differences remain unresolved.
|
Source : CIA |
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
12F, No.126,
Sec.4,Nanking East Road, Taipei 105, Taiwan, R.O.C. |
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-2578-8999 |
|
Fax Number: |
|
|
E-mail: |
Notes: The exact
name and address are as above.
|
Credit Opinion: |
|
Registered Name: |
Jintex Corporation Ltd. |
|
Registered Address: |
12F, No.126, Sec.4,Nanking East Road, Taipei
105, Taiwan, R.O.C. |
|
Date of Foundation: |
|
|
Registration Number: |
12207266 |
|
Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C. |
|
Registered Capital: |
|
|
Paid-up Capital: |
NTD 705,285,820
(USD 23,979,718 ) |
|
Legal Representatives: |
Caijin Zhuang |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject was incorporated on 1978-12-28 with registered number 12207266 as Joint Stock Company in Taiwan.
Change of Name
|
Former Chinese Name |
福盈股份有限公司 |
|
Current Chinese Name |
福盈科技化學股份有限公司 |
Subject listed on Taiwan Over-The-Counter Securities Exchange on 2005-4-22.
|
Name |
Subscription Shares |
|
Jing Gang Investment Co., Ltd. (Literal
Translation) |
7,431,364 |
|
Congzhe Weng |
1,071,899 |
|
Yiting Lai |
133,949 |
|
Wenxiong Zheng |
1,411,759 |
|
Rongyuan Gu |
471,473 |
|
Qingzhi Huang |
350,883 |
|
Binghuang Yan |
314,314 |
The information above is that of subject’s major shareholders.
Shareholder
Information:
|
Registered Name: |
Jing Gang Investment Co., Ltd. (Literal Translation) |
|
Registered Address: |
12/F., No.126, Sec 4, Nanjing
East Road, Songshan District, Taipei City, Taiwan |
|
Date of Foundation: |
1995-10-9 |
|
Registration Number: |
89614282 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 51,000,000 (USD 1,734,000) (As of 2014.07, 1 NTD = 0.0340
USD) |
|
Paid-up Capital: |
NTD 51,000,000 (USD 1,734,000) |
|
Legal Representatives: |
Caijin Zhuang |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2012-11-19 |
Factory
|
Name: |
Dayuan Factory |
|
Address: |
No.10, 9-1, 7, Minquan Road, Neihai Village, Dayuan
Township, Taoyuan County, Taiwan |
|
Date of Foundation: |
1987-3-23 |
|
Date of Registration: |
1989-3-8 |
|
Factory Registration Number: |
99622487 |
|
Factory Manager: |
Zhihe Li |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2009-4-15 |
|
Major Products: |
199
other chemical products 192 coating, dye, pigment |
Major Related Companies
|
1 |
|
|
Name: |
Foshan Fubao Fine Additives Co., Ltd (Literal Translation) |
|
Address: |
Road 3, Tancun Industrial Development Area, Fochen Road, Chencun
Township, Shunde District, Foshan City, Guangdong Province, China |
|
Tel: |
+86-757-2331-3358 |
|
Fax: |
+86-757-2331-3359 |
|
2 |
|
|
Name: |
Suzhou Fubin Xinke Chemical Co., Ltd |
|
Address: |
No. 18, Dongzhou Road, Yanjiang Industrial Area, Changshu City,
Jiangsu Province, China |
|
Tel: |
+86-512-5227-1789 |
|
Fax: |
+86-512-5227-1759 |
|
3 |
|
|
Name: |
PT. Jindo Industry |
|
Address: |
Jl. Akasia II Kav.A 7-3 Delta Silicone Industrial Park.Lippo Cikarang,
Bekasi 17550, Indonesia |
|
Tel: |
+62-21-8972-2121 |
|
Fax: |
+62-21-8990-8826 |
|
4 |
|
|
Name: |
GH Bangkok Co., Ltd. |
|
Address: |
34/6, 9F, Top View Tower, Soi Sukhumvit 59Rd., Klongton, Wattana,
Bangkok 10110, Thailand |
|
Tel: |
+662-714-2490 |
|
Fax: |
+662-714-2490 |
|
5 |
|
|
Name: |
Jintex India Co., Pvt., Ltd. |
|
Address: |
1/F., New No.17, Waddels Road, Kilpauk, Chennai-600010, Tamilnadu,
India |
|
Tel: |
+91-44-4260-2628/2618 |
|
Fax: |
+91-44-4260-2608 |
|
6 |
|
|
Name: |
Jindo Chemical Solutions Pvt., Ltd. |
|
Address: |
Pragathi Mahalakshmi,4th Floor #62,1 Main, III Cross, II Stage
Yeshwanthpur Industrial Suburb Bangalore-560022 Karnataka State, India |
|
7 |
|
|
Name: |
Jintex Vietnam Company Limited |
|
Address: |
Tang 3, So 23B Duong So 3, Khu Pho 2, Phuong Binh An, Quan 2 , TP.
HCM, Vietnam |
|
Tel: |
+84-862960854 |
|
Fax: |
+84-862960227 |
Core Management
|
1 |
|
|
Name |
Caijin Zhuang |
|
Position |
Board Chairman & Manager |
|
Date of Appointment |
2012-7-3 |
|
2 |
|
|
Name |
Congzhe Weng |
|
Position |
Deputy Chairman |
|
3 |
|
|
Name |
Yiting Lai |
|
Position |
Director |
|
4 |
|
|
Name |
Wenxiong Zheng |
|
Position |
Director |
|
5 |
|
|
Name |
Weigong Qi |
|
Position |
Independent Director |
|
6 |
|
|
Name |
Yuzhong Xie |
|
Position |
Independent Director |
|
7 |
|
|
Name |
Rongyuan Gu |
|
Position |
Director |
|
8 |
|
|
Name |
Changbang Zhang |
|
Position |
Supervisor |
|
9 |
|
|
Name |
Qingzhi Huang |
|
Position |
Supervisor |
|
10 |
|
|
Name |
Binghuang Yan |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 150 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
12F, No.126, Sec.4,Nanking East Road, Taipei
105, Taiwan, R.O.C. |
Production
Information
l
Subject is engaged in manufacture of specialty chemicals
l
It is introduced that
subject’s group has research and development center, production bases and
service points in mainland China, Taiwan, India
and Indonesia.
l
Subject obtained the
certifications of ISO 9001 and ISO 14001.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Manufacturing and sales of all kinds of
interfacial agents, emulgators (besides toxic products) |
|
-- |
Manufacturing and sales of all kinds of
industrial specialty chemicals, auxiliaries and related materials |
|
C802120 |
Manufacture of industrial additives |
|
C802990 |
Manufacturing of miscellaneous chemical
products (abluent, photoresist, etchant, developer) |
|
F107990 |
Wholesales of other chemical products
(abluent, photoresist, etchant, developer) |
|
F108040 |
Wholesale of cosmetic |
|
F102160 |
Wholesale of accessary food |
|
ZZ99999 |
Besides licensed business, all other business
items those are not banned or restricted. |
l Subject purchases raw materials both at home and abroad.
l It is introduced that subject has contracted with French chemical company
PROTEX and Canadian Company WEST-PENETONE to import the technology.
l It is introduced that subject is the agent of Sommer S.p.A. in Italy for
selling leather finishing agents and Teflon® leather
protective agent.
l The subject is mainly engaged in sales of specialty chemicals
l Subject’s products are applied to textile and leather dyeing and finishing as
well as paper making and electronic industry
l It is introduced that subject has its own brand LaFanta®.
l Subject’s products are both sold in domestic and overseas market and
subject exports to India, other Asian countries and Europe, etc.
Major products
|
1 |
Textile Specialty Chemicals |
|
2 |
Leather Specialty Chemicals |
|
3 |
Electronic Specialty Chemicals |
|
4 |
Innovation Specialty Chemicals |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Terms |
Proportion |
|
|
Raw
materials, etc |
T/T,
Cash, etc |
100% |
Foreign Purchase
|
Terms |
Proportion |
|
|
Raw
materials and additives, etc |
T/T,
etc |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Chemicals,
etc |
T/T,
Cash, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Chemicals,
etc |
L/C,
T/T, etc |
100% |
Unit: NTD/000
|
|
2012-12-31 |
2011-12-31 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
158,989.00 |
192,402.00 |
|
Financial assets measured at fair value
through profit or loss - current |
10,176.00 |
9,658.00 |
|
Notes receivable - net |
50,328.00 |
55,165.00 |
|
Accounts receivable - net |
110,624.00 |
106,319.00 |
|
Accounts receivable - related parties -
net |
26,848.00 |
14,051.00 |
|
Other receivables - related parties |
14,816.00 |
0.00 |
|
Inventories |
129,179.00 |
106,780.00 |
|
Prepayment |
12,012.00 |
24,035.00 |
|
Other current assets |
11,141.00 |
9,134.00 |
|
Current assets |
524,113.00 |
517,544.00 |
|
Funds and Investments |
|
|
|
Financial assets carried at
cost - non current |
277.00 |
0.00 |
|
Long-term equity investment under equity
method |
395,277.00 |
401,803.00 |
|
Investments |
395,277.00 |
401,803.00 |
|
Funds and investments |
395,554.00 |
401,803.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
99,485.00 |
99,485.00 |
|
Building and structure |
186,563.00 |
184,452.00 |
|
Machinery and equipment |
136,020.00 |
130,600.00 |
|
Transportation equipment |
16,758.00 |
16,618.00 |
|
Other equipment |
78,417.00 |
81,446.00 |
|
Revaluation |
82,568.00 |
82,568.00 |
|
Cost and revaluation |
599,811.00 |
595,169.00 |
|
Accumulated depreciation |
-193,150.00 |
-176,278.00 |
|
Construction in process and prepayment for
equipments |
6,619.00 |
425.00 |
|
Fixed assets |
413,280.00 |
419,316.00 |
|
Intangible Assets |
|
|
|
Trademarks |
354.00 |
385.00 |
|
Other intangible assets |
240.00 |
0.00 |
|
Intangible assets |
594.00 |
385.00 |
|
Other Assets |
|
|
|
Guarantee deposits paid |
1,105.00 |
1,567.00 |
|
Deferred charges |
3,145.00 |
5,330.00 |
|
Other assets - other |
7,236.00 |
6,441.00 |
|
Other assets |
11,486.00 |
13,338.00 |
|
Assets |
1,345,027.00 |
1,352,386.00 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowing |
2,963.00 |
36,484.00 |
|
Changes in the fair value of the financial
liability on profit and loss - flow |
0.00 |
144.00 |
|
Notes payable |
21,804.00 |
28,284.00 |
|
Accounts payable |
54,723.00 |
53,102.00 |
|
Accounts payable - related parties |
1,561.00 |
156.00 |
|
Income tax payable |
3,798.00 |
229.00 |
|
Accrued expenses |
32,441.00 |
34,137.00 |
|
Other payables |
2,708.00 |
2,178.00 |
|
Long-term liabilities -current portion |
21,900.00 |
63,155.00 |
|
Other current liabilities |
8,476.00 |
3,012.00 |
|
Current liabilities |
150,374.00 |
220,881.00 |
|
Long-term Liabilities |
|
|
|
Bonds payable |
27,990.00 |
0.00 |
|
Long-term loan |
75,350.00 |
47,250.00 |
|
Long-term liabilities |
103,340.00 |
47,250.00 |
|
Reserves |
|
|
|
Land value-added tax reserves |
27,135.00 |
27,135.00 |
|
Reserves |
27,135.00 |
27,135.00 |
|
Other Liabilities |
|
|
|
Guarantee deposit received |
1,156.00 |
0.00 |
|
Deferred income taxes |
5,223.00 |
7,266.00 |
|
Other liabilities - other |
4,539.00 |
4,612.00 |
|
Other liabilities |
10,918.00 |
11,878.00 |
|
Liabilities |
291,767.00 |
307,144.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
697,594.00 |
697,594.00 |
|
Capital Surplus |
|
|
|
Capital surplus - share premium |
124,910.00 |
121,963.00 |
|
Capital surplus - long-term investment |
5,580.00 |
5,580.00 |
|
Capital surplus - subscription right |
3,326.00 |
6,273.00 |
|
Capital surplus |
133,816.00 |
133,816.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
71,780.00 |
69,971.00 |
|
Unappropriated retained
earnings |
74,248.00 |
62,398.00 |
|
Retained earnings |
146,028.00 |
132,369.00 |
|
Stockholders' Equity and Other
adjustment |
|
|
|
Cumulative translation
adjustments |
20,389.00 |
26,030.00 |
|
Unrealized revaluation |
55,433.00 |
55,433.00 |
|
Stockholders' equity and other adjustment |
75,822.00 |
81,463.00 |
|
Stockholders’ equity |
1,053,260.00 (USD
35,810,840.00) |
1,045,242.00 (USD 35,538,228.00) |
(As of 2014.07, 1 NTD =
0.0340 USD)
Unit: NTD/000
|
|
2012 |
2011 |
|
Sales |
734,370.00 (USD 24,968,580.00) |
771,852.00 (USD 26,242,968.00) |
|
Sales returns |
3,130.00 |
1,701.00 |
|
Sales discount |
4,421.00 |
6,234.00 |
|
Sales |
726,819.00 |
763,917.00 |
|
Operating income |
726,819.00 |
763,917.00 |
|
Cost of selling |
509,133.00 |
576,077.00 |
|
Operating costs |
509,133.00 |
576,077.00 |
|
Gross profit (loss) from operations |
217,686.00 |
187,840.00 |
|
Unrealized gains on
intercompany transactions |
4,539.00 |
4,612.00 |
|
Realized gains on intercompany
transactions |
4,612.00 |
7,845.00 |
|
Selling expense |
69,456.00 |
76,440.00 |
|
General and administrative expenses |
44,316.00 |
47,394.00 |
|
Research and development expenses |
57,501.00 |
70,438.00 |
|
Operating expenses |
171,273.00 |
194,272.00 |
|
Operating income (loss) |
46,486.00 |
-3,199.00 |
|
Non-Operating Income |
|
|
|
Interest income |
908.00 |
866.00 |
|
Investment income |
0.00 |
8,612.00 |
|
Investment income under equity method |
0.00 |
8,612.00 |
|
Gains on disposal of
investments |
612.00 |
0.00 |
|
Foreign exchange gains |
0.00 |
2,846.00 |
|
Gain on valuation of financial
asset |
707.00 |
0.00 |
|
Gain on valuation of financial
liabilities |
130.00 |
0.00 |
|
Miscellaneous income |
12,834.00 |
26,495.00 |
|
Non-operating revenues and gains |
15,191.00 |
38,819.00 |
|
Non-Operating Expenses |
|
|
|
Interest expense |
3,677.00 |
3,288.00 |
|
Investment losses under equity method |
526.00 |
0.00 |
|
Investment losses |
526.00 |
0.00 |
|
Loss on disposal of investment |
0.00 |
1,237.00 |
|
Foreign exchange losses |
2,502.00 |
0.00 |
|
Loss on valuation of financial
asset |
0.00 |
342.00 |
|
Loss on valuation of financial
liabilities |
0.00 |
1,148.00 |
|
Miscellaneous disbursements |
2,186.00 |
2,323.00 |
|
Non-operating expenses and losses |
8,891.00 |
8,338.00 |
|
Income from continuing operations before
income tax |
52,786.00 |
27,282.00 |
|
Income tax expense (benefit) |
8,572.00 |
9,194.00 |
|
Income from continuing operations |
44,214.00 |
18,088.00 |
|
Net income (loss) |
44,214.00 (USD
1,503,276.00) |
18,088.00 (USD 614,992.00) |
|
Primary Earnings per Share |
0.63 |
0.26 |
|
Primary earnings per share |
0.63 |
0.26 |
|
Diluted Earnings Per Share |
0.63 |
0.26 |
|
Diluted earnings per share |
0.63 |
0.26 |
(As of 2014.07, 1 NTD =
0.0340 USD)
Unit:
NTD/000
|
|
2012 |
2011 |
|
Cash Flows from Operating Activities -
Indirect Method |
|
|
|
Net Income (Loss) |
44,214.00 |
18,088.00 |
|
Adjustments to Reconcile Net Income to Net
Cash Provided by (Used in) Operating Activities |
|
|
|
Depreciation Expense |
27,029.00 |
26,909.00 |
|
Amortization Expense |
2,338.00 |
9,889.00 |
|
Provision (Reversal of Provision) for Bad
Debts Losses |
1,516.00 |
615.00 |
|
Amortization of Discount (Premiums)
on Bonds Payable |
858.00 |
1,554.00 |
|
The Difference Between the Net Pension
Cost and Contribution |
-795.00 |
-754.00 |
|
Loss (Gain) on Decline (Recovery) in
Market Value, Scrap and Obsolescence of Inventories |
759.00 |
-1,768.00 |
|
Loss (Gain) on Inventories |
300.00 |
395.00 |
|
Investment Loss (Income) Recognized under
Equity Method |
526.00 |
-8,612.00 |
|
Cash Dividends Receivables from Invested
Companies under Equity Method |
5,089.00 |
0.00 |
|
Loss (Gain) on Disposal of Property, Plant
and Equipment |
-184.00 |
0.00 |
|
Unrealized Revaluation Loss (Gain) on
Financial Assets and Liabilities |
-837.00 |
1,490.00 |
|
Unrealized Gains or Loss on
Intercompany Transactions |
-73.00 |
-3,233.00 |
|
Loss (Gain) on Repurchase
Bonds Payable |
2,175.00 |
0.00 |
|
Loss (Gain) on Deferred Income
Tax |
2,807.00 |
6,246.00 |
|
Changes in Operating Assets and
Liabilities |
|
|
|
Decrease (Increase) in Trading Financial
Assets |
0.00 |
-10,000.00 |
|
Decrease (Increase) in Notes Receivable |
4,450.00 |
1,078.00 |
|
Decrease (Increase) in Accounts Receivable |
-5,434.00 |
45,141.00 |
|
Decrease (Increase) in Accounts Receivable
- Related Parties |
-12,797.00 |
-657.00 |
|
Decrease (Increase) in Other Receivables -
Related Parties |
-91.00 |
9.00 |
|
Decrease (Increase) in Inventories |
-23,458.00 |
39,407.00 |
|
Decrease (Increase) in Prepayment |
12,023.00 |
-12,143.00 |
|
Decrease (Increase) in Other Current
Assets |
511.00 |
-610.00 |
|
Increase (Decrease) in Notes Payable |
-6,480.00 |
1,689.00 |
|
Increase (Decrease) in Accounts Payable |
1,621.00 |
-7,152.00 |
|
Increase (Decrease) in Accounts Payable -
Related Parties |
1,405.00 |
156.00 |
|
Increase (Decrease) in Income Tax Payable |
3,569.00 |
-7,625.00 |
|
Increase (Decrease) in Accrued Expenses |
-1,696.00 |
-17,274.00 |
|
Increase (Decrease) in Other Liabilities |
5,464.00 |
374.00 |
|
Net Cash Provided by (Used in) Operating
Activities |
64,809.00 |
83,212.00 |
|
Cash Flows from Investing Activities |
|
|
|
Increase in Long-term Investment under
Equity Method |
-5,886.00 |
-23,985.00 |
|
Purchase of Property, Plant and Equipment |
-20,781.00 |
-37,114.00 |
|
Proceeds from Disposal of Property,
Plant and Equipment |
502.00 |
0.00 |
|
Decrease (Increase) in Guaranteed Deposits
Paid |
462.00 |
-35.00 |
|
Increase in Deferred Charges |
0.00 |
-2,577.00 |
|
Decrease (Increase) in Other Receivables –
Related Parties |
-14,725.00 |
0.00 |
|
Decrease (Increase) in Restricted Assets |
-6,212.00 |
2,789.00 |
|
Purchase of Intangible Assets |
-362.00 |
0.00 |
|
Net Cash Provided by (Used in) Investing
Activities |
-47,002.00 |
-60,922.00 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in Short-term
Borrowings |
-33,521.00 |
-1,778.00 |
|
Repaying of Bonds |
-26,400.00 |
0.00 |
|
Borrowing of Long-Term Loan |
50,000.00 |
0.00 |
|
Repaying of Long-Term Loan |
-11,900.00 |
-16,900.00 |
|
Increase (Decrease) in Guarantee Deposit
Received |
1,156.00 |
0.00 |
|
Issued Cash Dividend |
-30,555.00 |
-48,000.00 |
|
Net Cash Provided by (Used in) Financing
Activities |
-51,220.00 |
-66,678.00 |
|
Net Increase (Decrease) in Cash and Cash
Equivalents |
-33,413.00 |
-44,388.00 |
|
Cash and Cash Equivalents, Beginning of
year |
192,402.00 |
236,790.00 |
|
Cash and Cash Equivalents, End of year |
158,989.00 |
192,402.00 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid- Excluding Capitalized Interest |
2,867.00 |
1,796.00 |
|
Income Tax Paid |
2,217.00 |
10,573.00 |
|
Non-Cash Investing and Financing
Activities |
|
|
|
Current Portion of Long-term Liabilities |
21,900.00 |
11,900.00 |
|
Transferred Bonds to Common Stock |
0.00 |
802.00 |
|
Investing Activities Affecting Both Cash
and Non-cash Items |
|
|
|
Cash Paid for Acquisition of Property,
Plant and Equipment |
|
|
|
Increase in Property, Plant and Equipment |
21,311.00 |
38,436.00 |
|
Increase (Decrease) in Payable for Equipment
Purchased |
-530.00 |
-1,322.00 |
|
Cash Paid for Purchase of Property, Plant
and Equipment |
20,781.00 |
37,114.00 |
Subject declined
to disclose any information about bankers, and we can not obtain the
information from other source.
Mortgage
No chattel mortgage record of subject has been found within
the recent 3 months.
Lawsuit
|
1 |
|
|
2009,Jiaosheng,2476 |
|
|
Date of Trial: |
2009-9-17 |
|
Reason: |
The Statement of objections about
violation of traffic regulations |
|
Remonstrator: |
Jintex Corporation Ltd. |
|
2 |
|
|
Trial Number: |
2010,chonglaosu,64 |
|
Date of Trial: |
2011-5-31 |
|
Reason: |
Debt non-performance damages |
|
Claimant: |
Jintex Corporation Ltd. |
|
Defendant: |
Renren Qiu |
|
Name |
Ms. Zhang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.97 |
|
UK Pound |
1 |
Rs.102.89 |
|
Euro |
1 |
Rs.82.02 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MNL |
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.