|
Report Date : |
10.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
FORMOSA PLASTICS
CORPORATION |
|
|
|
|
Registered Office : |
No.100, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
05.11.1954 |
|
|
|
|
Com. Reg. No.: |
75708007 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
· engaged in Manufacturing & Sales of Chemical Materials Products Engaged in Manufacturing of Petrochemical Materials. Engaged in Manufacturing of Synthetic Resin and Plastic Cement. Engaged in Manufacturing of Artificial Fiber. Engaged in Manufacturing of Industrial Additives Engaged in Manufacturing of Toxic Chemicals Engaged in Manufacturing of Plastic Films and bags. Engaged in Manufacturing of Stone Products Engaged in Manufacturing of Electronic Components Engaged as Operating of tap water. · Subject is divided into 8 major departments which include Plastic, Acrylic Fiber, Carbide, Plastic Processing, Polyolefin, Chemicals, electronics and polypropylene Subject product
line are as follows: Plastic Materials PVC resins,
VCM, Caustic Soda, Hydrochloric Acid, MBS, HDPE, EVA/LDPE and LLDPE Plastic Products Shopping Bag, Garbage Bag, Breathable Film Calcium Carbide
Products Calcium Carbide, Calcium Carbonate, Optimal Calcium,
Quicklime and Light Calcium Glue |
|
|
|
|
No of Employees : |
About 4,400 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 |
|
High Risk |
C2 |
|
Very High Risk |
D |
Taiwan ECONOMIC OVERVIEW
Taiwan has a dynamic
capitalist economy with gradually decreasing government guidance of investment
and foreign trade. Exports, led by electronics, machinery, and petrochemicals
have provided the primary impetus for economic development. This heavy
dependence on exports exposes the economy to fluctuations in world demand.
Taiwan's diplomatic isolation, low birth rate, and rapidly aging population are
other major long-term challenges. Free trade agreements have proliferated in
East Asia over the past several years, and following the landmark Economic
Cooperation Framework Agreement (ECFA) signed with China in June 2010, Taiwan
in July 2013 signed a free trade deal with New Zealand—Taipei’s first-ever with
a country with which it does not maintain diplomatic relations—and in November
inked a trade pact with Singapore. Negotiations continue on follow-on
components of ECFA regarding trade in goods and a dispute resolution mechanism;
a trade in services agreement is under review in the legislature. Taiwan's
Total Fertility rate of just over one child per woman is among the lowest in
the world, raising the prospect of future labor shortages, falling domestic
demand, and declining tax revenues. Taiwan's population is aging quickly, with
the number of people over 65 accounting for 11.2% of the island's total
population as of 2012. The island runs a large overall trade surplus largely
because of its surplus with China, and its foreign reserves are the world's
sixth largest, behind China, Japan, Saudi Arabia, Russia, and Switzerland. In
2006 China overtook the US to become Taiwan's second-largest source of imports
after Japan. China is also the island's number one destination for foreign
direct investment. Taiwan since 2009 has gradually loosened rules governing
Chinese investment on the island, and has also secured greater market access
for its investors in the mainland. In August 2012, Taiwan Central Bank signed a
memorandum of understanding on cross-Strait currency settlement with its
Chinese counterpart. The MOU allows for the direct settlement of Chinese RMB
and the New Taiwan dollar across the Strait, which could help develop Taiwan
into a local RMB hub. Closer economic links with the mainland bring greater
opportunities for the Taiwan economy, but also poses new challenges as the
island becomes more economically dependent on China while political differences
remain unresolved.
|
Source : CIA |
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
|
|
Supplied Address: |
Sales Department Plastics division 201,
Tung Hwa Road Taipai |
|
Telephone Number: |
+886-2-2712-2211 |
|
Fax Number: |
|
|
E-mail: |
Notes: The exact name and address are as above.
|
Credit Opinion: |
|
Registered Name: |
Formosa Plastics Corporation |
|
Registered Address: |
No.100, Shuiguan Rd., Renwu Dist., Kaohsiung City 81465, Taiwan
(R.O.C.) |
|
Date of Foundation: |
1954-11-5 |
|
Registration Number: |
75708007 |
|
Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C. |
|
Registered Capital: |
NTD 63,657,407,810 (USD 2,107,060,199) (As of 2014.07, 1 NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 63,657,407,810 (USD 2,107,060,199) |
|
Legal Representatives: |
Zhicun Li |
|
Legal Form: |
|
|
Principal Activities: |
· engaged in Manufacturing & Sales of Chemical Materials Products Subject is divided into 8 major departments which include Plastic,
Acrylic Fiber, Carbide, Plastic Processing, Polyolefin, Chemicals, electronics and polypropylene |
|
Staff : |
About 4,400 Employees |
|
Listed at Stock
Exchange: |
Stock Code : TPE
: 1301 |
|
Date of Last
Annual Return: |
Subject was incorporated on 1954-11-5 with registered number 75708007 as Joint Stock Company in Taiwan.
Subject listed on Taiwan Stock Exchange on 1964-7-24 with the stock code 1301.
|
Name |
Subscription Shares |
|
Zhicun Li |
1,262,541 |
|
Formosa Chemicals & Fibre Corporation |
|
|
486,978,692 |
|
|
Nan Ya Plastics Corp. |
294,793,105 |
|
Formosa Petrochemical
Corporation |
131,460,365 |
|
Xuehong Wang |
7,369,380 |
|
Hong Tong Co., Ltd. (Literal Translation) |
11,461 |
|
Zongjing Huang |
86,307 |
|
Zhenrong Lin |
17,957 |
|
Zifeng Zhang |
3,338 |
|
Wenqin Xiao |
6,685 |
|
Chang Gung Medical Foundation |
601,011,035 |
|
Minting He |
27,824,363 |
|
Guoxiong Wu |
134,537 |
The information above is that of subject’s
major shareholders.
Shareholder
Information
|
1 |
|
|
Registered Name: |
Formosa Chemicals & Fibre Corp. |
|
Registered Address: |
No. 359, Chungshan Road, Sec. 3, Chang Hwa City,
Chang Hwa County, Taiwan, R.O.C. |
|
Date of Foundation: |
1965-3-5 |
|
Registration Number: |
58650902 |
|
Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C. |
|
Registered Capital: |
NTD
58,611,862,910 (USD 1,940,052,662) (As of 2014.07, 1 NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 58,611,862,910 (USD 1,940,052,662) |
|
Legal Representatives: |
Wenyuan Wang |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2014-7-1 |
|
2 |
|
|
Registered Name: |
Nan Ya Plastics Corporation |
|
Registered Address: |
No.101, Shuiguan Rd., Renwu Dist., Kaohsiung City
81465, Taiwan (R.O.C.) |
|
Date of Foundation: |
1958-8-22 |
|
Registration Number: |
75370905 |
|
Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C. |
|
Registered Capital: |
NTD
79,308,215,890 (USD 2,625,101,946) (As of 2014.07, 1 NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 79,308,215,890 (USD 2,625,101,946) |
|
Legal Representatives: |
Jiazhao Wu |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2014-5-20 |
|
3 |
|
|
Registered Name: |
Formosa Petrochemical Corporation |
|
Registered Address: |
No.1-1,Formosa Plastic Group Industrial Zone,
Mai-Liao Township, Yunlin County, Taiwan, R. O. C. |
|
Date of Foundation: |
1992-4-6 |
|
Registration Number: |
86522210 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs,
R.O.C. |
|
Registered Capital: |
NTD
95,259,596,520 (USD 3,153,092,645) (As of 2014.07, 1 NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 95,259,596,520 (USD 3,153,092,645) |
|
Legal Representatives: |
Baolang Chen |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2014-6-19 |
|
4 |
|
|
Registered Name: |
Hong Tong Co.,
Ltd. (Literal Translation) |
|
Registered Address: |
4F, No. 38, 2 Sec, Nanjingdong Road, Zhongshan
District, Taipei |
|
Date of Foundation: |
2004-1-15 |
|
Registration Number: |
80664633 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD
5,000,000 (USD 165,500) (As of 2014.07, 1 NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 5,000,000 (USD 165,500) |
|
Legal Representatives: |
Yongxiang Zhang |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2013-11-29 |
Branch Companies
|
1 |
|
|
Name |
Mailiao Branch |
|
Address |
1-1, Formosa Plastics
Group Industrial zone, Mailiao, Yunlin County, Taiwan |
|
Telephone Number |
+886-5-681-2345 |
|
Registration
Number |
84896537 |
|
Date of
Registration |
1994-9-9 |
|
Status
|
Live
Company |
|
Manager Name |
Jianrong Lu |
|
Date of Last
Annual Return |
2009-3-25 |
|
2 |
|
|
Name |
Hsinkang Branch |
|
Address |
No.3, Chung-yang
Industrial park, Hsinkang Hsiang, Chiayi-Hsien, Taiwan |
|
Telephone Number |
+886-5-377-2111 |
|
Registration
Number |
84708802 |
|
Date of
Registration |
1994-3-7 |
|
Status
|
Live
Company |
|
Manager Name |
Jianrong Lu |
|
Date of Last
Annual Return |
2009-3-25 |
|
3 |
|
|
Name |
Yilan Branch |
|
Address |
201, Tungfu
Road, Tungshan Village, Yilan County, Taiwan |
|
Telephone Number |
+886-39-59-1134 |
|
Registration
Number |
84708795 |
|
Date of
Registration |
1994-3-7 |
|
Status
|
Live
Company |
|
Manager Name |
Wesong Zhang |
|
Date of Last
Annual Return |
2014-1-3 |
Factories
|
1 |
|
|
Address: |
No.39, Zhongshn
3rd Road, Qianzhen Dist., Kaohsiung City, Taiwan (R.O.C.) |
|
Date of Registration: |
1969-7-10 |
|
Factory Registration Number: |
64000008 |
|
Factory Manager: |
Qinglian Huang |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2011-5-23 |
|
Major Products: |
184 synthetic resin, plastic and rubber 220 plastic
items |
|
2 |
|
|
Address: |
No.5, Jianji
St., Qianzhen Dist., Kaohsiung City, Taiwan (R.O.C.) |
|
Date of Foundation: |
1991-3-22 |
|
Date of Registration: |
1991-12-18 |
|
Factory Registration Number: |
64004717 |
|
Factory Manager: |
Qinglian Huang |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2011-6-21 |
|
Major Products: |
199 other
chemical products |
|
3 |
|
|
Address: |
No.201, Dongfu Rd.,
Dongshan Township, Yilan County, Taiwan (R.O.C.) |
|
Date of Foundation: |
1969-1-1 |
|
Date of Registration: |
1969-1-1 |
|
Factory Registration Number: |
99620361 |
|
Factory Manager: |
Zhenfeng Lin |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2014-1-22 |
|
Major Products: |
232 refractory,
clay construction materials and ceramic products |
Core Management
Directors
|
1 |
|
|
Name |
Zhicun Li |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Wenyuan Wang |
|
Position |
Executive
Director |
|
3 |
|
|
Name |
Ruihua Wang |
|
Position |
Executive
Director |
|
4 |
|
|
Name |
Wenchao Wang |
|
Position |
Executive
Director |
|
5 |
|
|
Name |
Qilin Wei |
|
Position |
Executive Director
(Independent Director) |
|
6 |
|
|
Name |
Deshan Wang |
|
Position |
Independent
Director |
|
7 |
|
|
Name |
Qingji Wu |
|
Position |
Independent
Director |
|
8 |
|
|
Name |
Xuehong Wang |
|
Position |
Director |
|
9 |
|
|
Name |
Yurui Zhang |
|
Position |
Director |
|
10 |
|
|
Name |
Jiannan Lin |
|
Position |
Director &
Manager |
|
Date of
Appointment |
2005-8-26 |
|
11 |
|
|
Name |
Zongjing Huang |
|
Position |
Director |
|
12 |
|
|
Name |
Zhenrong Lin |
|
Position |
Director &
Manager |
|
Date of
Appointment |
2007-3-23 |
|
13 |
|
|
Name |
Zifeng Zhang |
|
Position |
Director |
|
14 |
|
|
Name |
Wenqin Xiao |
|
Position |
Director &
Manager |
|
Date of
Appointment |
2009-3-17 |
|
15 |
|
|
Name |
Chengzhong Cheng |
|
Position |
Director &
Manager |
|
Date of
Appointment |
2009-6-26 |
|
16 |
|
|
Name |
Qiufeng He |
|
Position |
Supervisor |
|
17 |
|
|
Name |
Minting He |
|
Position |
Supervisor |
|
18 |
|
|
Name |
Guoxiong Wu |
|
Position |
Supervisor |
|
19 |
|
|
Name |
Tianxiang Li |
|
Position |
Manager |
|
Date of
Appointment |
2010-12-24 |
|
20 |
|
|
Name |
Guangming Chen |
|
Position |
Manager |
|
Date of
Appointment |
2011-6-20 |
|
21 |
|
|
Name |
Jianshan Yang |
|
Position |
Manager |
|
Date of
Appointment |
2013-3-25 |
|
22 |
|
|
Name |
Jinlong Huang |
|
Position |
Manager |
|
Date of Appointment |
2013-3-25 |
Personnel
Structure
|
Total Employees |
About 4,400 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
Production
Information
l
Subject
is engaged in manufacturing of chemicals
l
Subject
has factories in Kaohsiung City, Yilan County, Taiwan for production.
l
The
annual production capacity of PVC resins is about 1,301,000 MT.
l
Subject
obtained the certifications of ISO 14000, ISO 14001 and OHSAS 18001.
Purchase
Information
l
The
registered activities of subject:
|
Business Code |
Details |
|
B202010 |
Industry of non-metal. |
|
C199990 |
Manufacturing of undivided other food. |
|
C801010 |
Industry of basic chemistry. |
|
C801020 |
Manufacturing of petrochemical materials. |
|
C801100 |
Manufacturing of synthetic resin and plastic cement. |
|
C801120 |
Manufacturing of artificial fiber. |
|
C801990 |
Manufacturing of other chemical materials. |
|
C802120 |
Manufacturing of industrial additives. |
|
C802170 |
Manufacturing of toxic chemicals. |
|
C805020 |
Manufacturing of plastic films and bags. |
|
C901070 |
Manufacturing of stone products. |
|
CB01010 |
Manufacturing of machinery. |
|
CC01080 |
Manufacturing of electronic components. |
|
D101050 |
Manufacturing of cogeneration industry. |
|
D301010 |
Operating of tap water. |
|
D401010 |
Heat supply industry. |
|
E603050 |
Automatic control equipment engineering industry. |
|
H701010 |
Development, renting and sales of residence and building. |
|
H701040 |
Development of specific area. |
|
ID01010 |
Certifying of instruments for measuring distance, area and weight. |
|
IZ99990 |
Servicing of other trading business. |
|
J101050 |
Servicing of environment monitoring. |
|
ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
l
The raw materials for production are purchased from
both home and abroad and we obtained some detail information as follows for
reference.
|
Raw Material |
Original Area |
|
Ethylene |
Taiwan, Japan, etc |
|
VCM |
Japan, Taiwan, etc |
|
EDC |
Taiwan |
|
Salt |
Japan, etc |
|
AN |
Taiwan |
|
Propylene |
Taiwan |
|
Dust Coal |
Taiwan, Indonesia, etc |
l
It is
introduced that subject imports technologies from Japan, etc.
Sales Information
l
Subject
is mainly engaged in sales of chemical
materials
l
Subject is divided into 8 major departments which
include plastic, acrylic fiber, carbide, plastic processing, polyolefin,
chemicals, electronics and polypropylene
l
It is introduced that subject’s selling territory
includes China, America, Middle
East, South East Asia, Europe, Australia and Japan, etc.
l
It is
introduced that subject cooperates with Fujitsu Hitachi Plasma Display
Corporation and AU Optronics Corporation, etc.
Major Products
|
Plastic materials |
PVC resins, VCM, caustic soda, hydrochloric acid, MBS, HDPE, EVA/LDPE
and LLDPE |
|
Plastic products |
Shopping bag, garbage bag, breathable film |
|
Calcium carbide products |
Calcium carbide, calcium carbonate, Optimal calcium, quicklime and
Light calcium glue |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic
Purchase
|
Product |
Terms |
Proportion |
|
Raw materials, etc |
T/T, Credit Sale, etc |
100% |
Foreign
Purchase
|
Terms |
Proportion |
|
|
Raw materials, etc |
T/T, etc |
100% |
Sales
Domestic
Markets
|
Product |
Terms |
Proportion |
|
Chemicals, etc |
T/T, Credit Sale, etc |
100% |
Export
|
Product |
Terms |
Proportion |
|
Chemicals, etc |
T/T, etc |
100% |
Unit: NTD/000
|
Date |
2012-12-31* |
2011-12-31* |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
1,783,038.00 |
1,022,948.00 |
|
Financial assets measured at fair value through profit or loss -
current |
0.00 |
12,543.00 |
|
Available-for-sale financial assets - current |
58,452,143.00 |
62,173,408.00 |
|
Notes receivable - net |
264,859.00 |
233,113.00 |
|
Accounts receivable - net |
5,399,245.00 |
5,452,470.00 |
|
Accounts receivable - related parties - net |
5,825,497.00 |
5,585,830.00 |
|
Other receivables |
1,050,604.00 |
1,094,849.00 |
|
Other receivables - related parties |
28,304,073.00 |
27,005,344.00 |
|
Inventories |
16,530,987.00 |
18,548,820.00 |
|
Other prepayments |
2,007,916.00 |
2,408,168.00 |
|
|
0.00 |
177,895.00 |
|
Other current assets |
0.00 |
82,040.00 |
|
Current assets |
119,618,362.00 |
123,797,428.00 |
|
Funds and Investments |
|
|
|
Available-for-sale financial assets - non current |
8,723,986.00 |
4,916,968.00 |
|
Financial assets carried at cost - non current |
2,416,168.00 |
3,022,618.00 |
|
Equity investments under equity method |
149,468,847.00 |
146,081,983.00 |
|
Investments |
149,468,847.00 |
146,081,983.00 |
|
Funds and long-term investments |
160,609,001.00 |
154,021,569.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
6,755,927.00 |
6,763,260.00 |
|
Buildings and structures |
20,405,645.00 |
20,149,045.00 |
|
Machinery and equipment |
121,223,513.00 |
116,435,254.00 |
|
Other facilities |
4,242,712.00 |
4,000,249.00 |
|
Revaluation increment |
466,839.00 |
469,856.00 |
|
Cost and revaluation increment |
153,094,636.00 |
147,817,664.00 |
|
Accumulated depreciation |
-106,681,823.00 |
-99,852,759.00 |
|
Construction in process and prepayment for equipments |
5,867,245.00 |
5,999,397.00 |
|
Fixed assets |
52,280,058.00 |
53,964,302.00 |
|
Intangible Assets |
|
|
|
Goodwill |
124,762.00 |
124,762.00 |
|
Other intangible assets |
47,809.00 |
333,685.00 |
|
Intangible assets |
172,571.00 |
458,447.00 |
|
OtherAssets |
|
|
|
Idled assets |
182,328.00 |
182,328.00 |
|
Guarantee deposits paid |
60,460.00 |
66,584.00 |
|
Deferred charges |
517,698.00 |
638,291.00 |
|
Other assets - other |
10,486,620.00 |
5,414,032.00 |
|
Other assets |
11,247,106.00 |
6,301,235.00 |
|
Assets |
343,927,098.00 |
338,542,981.00 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowings |
9,061,121.00 |
2,207,643.00 |
|
Short-term notes and bills payable |
8,198,406.00 |
0.00 |
|
Financial liabilities measured at fair value through profit or loss -
current |
5,866.00 |
0.00 |
|
Accounts payable |
3,229,206.00 |
2,915,978.00 |
|
Accounts payable - related parties |
9,898,103.00 |
8,640,870.00 |
|
Accrued expenses |
4,535,450.00 |
4,820,694.00 |
|
Other payables - related parties |
6,295.00 |
3,081.00 |
|
Other payables |
440,755.00 |
1,708,137.00 |
|
Long-term liabilities - current portion |
10,423,854.00 |
7,378,012.00 |
|
Other current liabilities |
1,555,787.00 |
1,326,286.00 |
|
Current liabilities |
47,354,843.00 |
29,000,701.00 |
|
Long term Liabilities |
|
|
|
Financial liabilities measured at fair value through profit or loss -
non current |
0.00 |
14,369.00 |
|
Bonds payable |
39,917,889.00 |
27,950,138.00 |
|
Long-term borrowings |
17,870,003.00 |
29,199,905.00 |
|
Long-term liabilities |
57,787,892.00 |
57,164,412.00 |
|
Reserves |
|
|
|
Other Liabilities |
|
|
|
Pension reserve / accrued pension liability |
7,924,760.00 |
7,611,834.00 |
|
Deferred income tax liabilities |
3,819,031.00 |
3,268,740.00 |
|
Other liabilities - other |
420,104.00 |
241,821.00 |
|
Other liabilities |
12,163,895.00 |
11,122,395.00 |
|
Liabilities |
117,306,630.00 |
97,287,508.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
61,209,046.00 |
61,209,046.00 |
|
Capital Surplus |
|
|
|
Capital surplus - additional paid-in capital |
8,130,081.00 |
8,130,081.00 |
|
Capital surplus - other |
4,699,468.00 |
4,699,640.00 |
|
Capital surplus |
12,829,549.00 |
12,829,721.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
39,801,369.00 |
36,228,923.00 |
|
Special reserve |
30,717,624.00 |
24,676,397.00 |
|
Unappropriated retained earnings |
38,937,749.00 |
58,372,520.00 |
|
Retained earnings |
109,456,742.00 |
119,277,840.00 |
|
Stockholders' Equity and Other adjustment |
|
|
|
Cumulative translation adjustments |
625,749.00 |
2,633,628.00 |
|
Unrealized gains (losses) on financial instruments |
42,319,003.00 |
45,124,859.00 |
|
Unrealized Revaluation Increment |
180,379.00 |
180,379.00 |
|
Equity adjustments |
43,125,131.00 |
47,938,866.00 |
|
Stockholdersˉ equity |
226,620,468.00 (USD 7,501,137,490.80 ) |
241,255,473.00 (USD 7,985,556,156.30) |
Unit: NTD/000
|
Date |
2013-12-31 # |
|
Assets |
|
|
Current assets |
|
|
Cash and cash equivalents |
|
|
Total cash and cash equivalents |
7,672,877.00 |
|
Current financial assets at fair value through profit or loss |
|
|
Total current financial assets at fair value through profit or loss |
0.00 |
|
Current available-for-sale financial assets |
|
|
Current available-for-sale financial assets, net |
71,546,858.00 |
|
Notes receivable, net |
|
|
Notes receivable, net |
1,059,554.00 |
|
Accounts receivable, net |
|
|
Accounts receivable, net |
8,699,422.00 |
|
Accounts receivable due from related parties, net |
|
|
Accounts receivable due from related parties, net |
4,631,945.00 |
|
Other receivables |
|
|
Other receivables, net |
1,591,915.00 |
|
Other receivables due from related parties |
|
|
Other receivables due from related parties, net |
21,069,672.00 |
|
Inventories |
|
|
Total inventories |
21,669,071.00 |
|
Non-current assets classified as held for sale, net |
|
|
Non-current assets classified as held for sale, net |
0.00 |
|
Other current assets |
|
|
Total other current assets |
4,926,183.00 |
|
Total current assets |
142,867,497.00 |
|
Non-current assets |
|
|
Non-current available-for-sale financial assets |
|
|
Non-current available-for-sale financial assets, net |
13,993,274.00 |
|
Non-current financial assets at cost |
|
|
Non-current financial assets at cost, net |
2,416,168.00 |
|
Investments accounted for using equity method |
|
|
Investments accounted for using equity method, net |
152,358,544.00 |
|
Property, plant and equipment |
|
|
Total property, plant and equipment |
81,456,398.00 |
|
Intangible assets |
|
|
Total intangible assets |
638,075.00 |
|
Deferred tax assets |
1,670,569.00 |
|
Other non-current assets |
|
|
Total other non-current assets |
13,345,840.00 |
|
Total non-current assets |
265,878,868.00 |
|
Total assets |
408,746,365.00 |
|
Liabilities |
|
|
Current liabilities |
|
|
Short-term borrowings |
|
|
Total short-term borrowings |
17,521,603.00 |
|
Short-term notes and bills payable |
|
|
Total short-term notes and bills payable |
3,099,844.00 |
|
Current financial liabilities at fair value through profit or loss |
|
|
Total current financial liabilities at fair value through profit or
loss |
0.00 |
|
Accounts payable |
|
|
Total accounts payable |
4,478,098.00 |
|
Accounts payable to related parties |
|
|
Total accounts payable to related parties |
12,853,759.00 |
|
Other payables |
|
|
Total other payables |
995,821.00 |
|
Other payables to related parties |
882,463.00 |
|
Other current liabilities |
|
|
Long-term liabilities, current portion |
|
|
Bonds payable, current portion |
5,996,474.00 |
|
Long-term borrowings, current portion |
4,995,310.00 |
|
Total long-term liabilities, current portion |
10,991,784.00 |
|
Other current liabilities, others |
8,854,481.00 |
|
Total other current liabilities |
19,846,265.00 |
|
Total current liabilities |
59,677,853.00 |
|
Non-current liabilities |
|
|
Non-current financial liabilities at fair value through profit or
loss |
|
|
Total non-current financial liabilities at fair value through profit
or loss |
0.00 |
|
Bonds payable |
|
|
Total bonds payable |
53,893,227.00 |
|
Long-term borrowings |
|
|
Total long-term borrowings |
16,215,982.00 |
|
Deferred tax liabilities |
|
|
Total deferred tax liabilities |
7,165,065.00 |
|
Other non-current liabilities |
|
|
Accrued pension liabilities |
8,934,115.00 |
|
Other non-current liabilities, others |
423,770.00 |
|
Total other non-current liabilities |
9,357,885.00 |
|
Total non-current liabilities |
86,632,159.00 |
|
Total liabilities |
146,310,012.00 |
|
Equity |
|
|
Equity attributable to owners of parent |
|
|
Share capital |
|
|
Ordinary share |
63,657,408.00 |
|
Total capital stock |
63,657,408.00 |
|
Capital surplus |
|
|
Total capital surplus |
11,275,671.00 |
|
Retained earnings |
|
|
Legal reserve |
41,267,621.00 |
|
Special reserve |
33,508,131.00 |
|
Unappropriated retained earnings (accumulated deficit) |
|
|
Total unappropriated retained earnings (accumulated deficit) |
48,550,893.00 |
|
Total retained earnings |
123,326,645.00 |
|
Other equity interest |
|
|
Total other equity interest |
64,176,629.00 |
|
Total equity attributable to owners of parent |
262,436,353.00 |
|
Total equity |
262,436,353.00 (USD 8,686,643,284.00) |
(As of 2014.07, 1 NTD
= 0.0331 USD)
Unit: NTD/000
|
Date |
2012* |
2011* |
|
Sales |
173,143,020.00 (USD 5,731,033,962.00 ) |
187,668,319.00 (USD 6,211,821,358.90) |
|
Sales returns |
75,638.00 |
20,751.00 |
|
Sales discounts and allowances |
32,578.00 |
44,254.00 |
|
Sales |
173,034,804.00 |
187,603,314.00 |
|
Operating income |
173,034,804.00 |
187,603,314.00 |
|
Cost of sales |
158,252,452.00 |
155,840,930.00 |
|
Operating costs |
158,252,452.00 |
155,840,930.00 |
|
Gross profit (loss) from operations |
14,782,352.00 |
31,762,384.00 |
|
Realized gains on intercompany transactions |
11,513.00 |
12,653.00 |
|
Selling expense |
4,689,043.00 |
4,270,181.00 |
|
General and administrative expenses |
3,429,218.00 |
3,830,896.00 |
|
Research and development expenses |
931,348.00 |
1,125,070.00 |
|
Operating expenses |
9,049,609.00 |
9,226,147.00 |
|
Operating income (loss) |
5,744,256.00 |
22,548,890.00 |
|
Non-Operating Income |
|
|
|
Interest income |
404,615.00 |
374,179.00 |
|
Income from long-term equity investments under the equity method |
7,470,231.00 |
14,277,437.00 |
|
Dividends |
2,750,558.00 |
5,352,429.00 |
|
Investment income |
10,220,789.00 |
19,629,866.00 |
|
Gains on disposal of fixed assets |
1,028,649.00 |
150,852.00 |
|
Foreign exchange gains |
0.00 |
476,833.00 |
|
Rent income |
96,695.00 |
100,995.00 |
|
Revaluation gain on financial assets |
0.00 |
6,229.00 |
|
Revaluation gain on financial liabilities |
8,504.00 |
7,703.00 |
|
Miscellaneous income |
356,337.00 |
559,440.00 |
|
Non-operating revenues and gains |
12,115,589.00 |
21,306,097.00 |
|
Non-Operating Expenses |
|
|
|
Interest expense |
1,103,153.00 |
983,772.00 |
|
Foreign exchange losses |
308,860.00 |
0.00 |
|
Impairment loss on assets |
0.00 |
2,251,150.00 |
|
Revaluation loss on financial assets |
7,839.00 |
0.00 |
|
Miscellaneous disbursements |
35,470.00 |
57,921.00 |
|
Non-operating expenses and losses |
1,455,322.00 |
3,292,843.00 |
|
Income from continuing operations before income tax |
16,404,523.00 |
40,562,144.00 |
|
Income tax expense (benefit) |
1,742,003.00 |
4,837,686.00 |
|
Income from continuing operations |
14,662,520.00 |
35,724,458.00 |
|
Net income (loss) |
14,662,520.00 (USD 485,329,412.00) |
35,724,458.00 (USD 1,182,479,559.80) |
|
Primary Earnings per Share |
|
|
|
Primary earnings per share |
2.40 |
5.84 |
|
Diluted earnings per share |
|
|
Unit: NTD/000
|
|
2013# |
|
Operating revenue |
|
|
Total operating revenue |
215,424,768.00 (USD 7,130,559,820.80) |
|
Operating costs |
|
|
Total operating costs |
199,760,375.00 |
|
Gross profit (loss) from operations |
15,664,393.00 |
|
Gross profit (loss) from operations |
15,664,393.00 |
|
Operating expenses |
|
|
Selling expenses |
|
|
Total selling expenses |
5,548,405.00 |
|
Administrative expenses |
|
|
Total administrative expenses |
4,643,380.00 |
|
Research and development expenses |
|
|
Total research and development expenses |
892,277.00 |
|
Total operating expenses |
11,084,062.00 |
|
Net operating income (loss) |
4,580,331.00 |
|
Non-operating income and expenses |
|
|
Other income |
|
|
Total other income |
1,392,257.00 |
|
Other gains and losses |
|
|
Other gains and losses, net |
2,034,874.00 |
|
Finance costs |
|
|
Finance costs, net |
1,482,832.00 |
|
Share of profit (loss) of associates and joint ventures accounted for
using equity method |
|
|
Share of profit (loss) of associates and joint ventures accounted for
using equity method, net |
16,639,868.00 |
|
Total non-operating income and expenses |
18,584,167.00 |
|
Profit (loss) from continuing operations before tax |
23,164,498.00 |
|
Tax expense (income) |
|
|
Total tax expense (income) |
2,448,657.00 |
|
Profit (loss) from continuing operations |
20,715,841.00 |
|
Profit (loss) |
20,715,841.00 |
|
Other comprehensive income |
|
|
Exchange differences on translation |
2,792,876.00 |
|
Unrealised gains (losses) on valuation of available-for-sale
financial assets |
18,364,002.00 |
|
Share of other comprehensive income of associates and joint ventures
accounted for using equity method |
|
|
Total share of other comprehensive income of associates and joint
ventures accounted for using equity method |
2,934,708.00 |
|
Income tax related to components of other comprehensive income |
226,081.00 |
|
Other comprehensive income, net |
23,865,505.00 |
|
Total comprehensive income |
44,581,346.00 (USD 1,475,642,552.60) |
|
Profit (loss), attributable to: |
|
|
Profit (loss), attributable to owners of parent |
20,715,841.00 |
|
Comprehensive income attributable to: |
|
|
Comprehensive income, attributable to owners of parent |
44,581,346.00 |
|
Basic earnings per share |
|
|
Basic earnings (loss) per share from continuing operations |
3.25 |
|
Total basic earnings per share |
3.25 |
|
Date |
2012* |
2011* |
|
Cash Flows from Operating Activities - Indirect Method |
|
|
|
Net Income (Loss) |
14,662,520.00 |
35,724,458.00 |
|
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in)
Operating Activities |
|
|
|
Depreciation Expense |
7,251,757.00 |
9,530,192.00 |
|
Amortization Expense |
547,293.00 |
778,422.00 |
|
Provision (Reversal of Provision) for Bad Debts Losses |
-194 |
-226,742.00 |
|
Amortization of Discounts (Premiums) on Bonds Payable |
21,526.00 |
16,496.00 |
|
Loss (Gain) on Decline (Recovery) in Market Value, Scrap and
Obsolescence of Inventories |
743,921.00 |
-246,903.00 |
|
Investment Loss (Income) Recognized under Equity Method |
-7,470,231.00 |
-14,277,437.00 |
|
Cash Dividends Received from Investments Accounted for under Equity
Method |
5,921,631.00 |
12,785,748.00 |
|
Loss (Gain) on Disposal of Property, Plan and Equipment |
-14,556.00 |
-5,307.00 |
|
Property, Plan and Equipment Transferred to Expenses |
901 |
2,772.00 |
|
Loss (Gain) on Disposal of Idle Assets |
0 |
-145,545.00 |
|
Loss (Gain) on Disposal of Non-current Assets Classified as Held for
Sale |
-1,014,093.00 |
0 |
|
Impairment Losses on Financial Asset |
0 |
2,251,150.00 |
|
Unrealized Gain (Loss) on Intercompany Transactions |
-11,513.00 |
-12,653.00 |
|
Unrealized Exchange Loss (Gain) |
-324 |
4,480.00 |
|
Loss (Gain) on Deferred Income Tax |
917,174.00 |
2,737,814.00 |
|
Other Revenue - Overdue Dividends And Compensation of Board And
Directors |
-7,258.00 |
-11,460.00 |
|
Changes in Operating Assets and Liabilities |
|
|
|
Decrease (Increase) in Financial Assets Held for Trading |
4,040.00 |
-45 |
|
Decrease (Increase) in Notes Receivable |
-31,723.00 |
4,984.00 |
|
Decrease (Increase) in Accounts Receivable |
60,041.00 |
750,711.00 |
|
Decrease (Increase) in Accounts Receivable - Related Parties |
-239,667.00 |
-339,946.00 |
|
Decrease (Increase) in Other Receivables |
44,245.00 |
-56,277.00 |
|
Decrease (Increase) in Other Receivable- Related Parties |
-661,541.00 |
107,630.00 |
|
Decrease (Increase) in Inventories |
1,439,054.00 |
-4,637,222.00 |
|
Decrease (Increase) in Other Prepayments |
400,252.00 |
-398,030.00 |
|
Increase (Decrease) in Accounts Payable |
313,228.00 |
762,758.00 |
|
Increase (Decrease) in Accounts Payable - Related Parties |
1,257,233.00 |
-3,291,807.00 |
|
Increase (Decrease) in Accrued Expenses |
-285,244.00 |
273,797.00 |
|
Increase (Decrease) in Other Payables |
-1,287,698.00 |
-870,523.00 |
|
Increase (Decrease) in Other Payable - Related Parties |
3,214.00 |
983 |
|
Increase (Decrease) in Other Current Liabilities |
222,813.00 |
-325,025.00 |
|
Increase (Decrease) in Accrued Pension Liabilities |
312,925.00 |
247,357.00 |
|
Increase (Decrease) in Deferred Credits |
0 |
40,953.00 |
|
Net Cash Provided by (Used in) Operating Activities |
23,099,726.00 |
41,175,783.00 |
|
Cash Flows from Investing Activities |
|
|
|
Acquisition of Available-for-sale Financial Assets |
-2,250,000.00 |
-6,000,000.00 |
|
Acquisition of Investments Accounted for by Equity Method |
-4,186,197.00 |
-4,847,463.00 |
|
Proceeds from Disposal of
Non-current Assets Classified as Held for Sale |
1,191,988.00 |
0 |
|
Purchase of Property, Plant and Equipment |
-5,748,902.00 |
-3,312,540.00 |
|
Proceeds from Disposal of Property, Plant and Equipment |
29,901.00 |
13,244.00 |
|
Proceeds from Disposal of Rental Assets and Idle Assets |
0 |
172,951.00 |
|
Decrease (Increase) in Refundable Deposits |
6,124.00 |
1,089.00 |
|
Increase in Deferred Charges |
-140,823.00 |
-374,687.00 |
|
Decrease (Increase) in Other Receivables - Related Parties |
-440,000.00 |
-7,396,800.00 |
|
Decrease (Increase) in Other Assets |
-5,072,588.00 |
-302,496.00 |
|
Net Cash Provided by (Used in) Investing Activities |
-16,610,497.00 |
-22,046,702.00 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in Short-term Loans |
6,854,890.00 |
1,603,967.00 |
|
Increase (Decrease) in Short-term Notes and Bills Payable |
8,198,406.00 |
0 |
|
Proceeds from Issuance of Bonds |
20,945,275.00 |
9,972,980.00 |
|
Repayments of Bonds |
-6,000,000.00 |
-5,000,000.00 |
|
Proceeds from Long-term Debt |
12,600,000.00 |
30,300,000.00 |
|
Repayment of Long-term Debt |
-23,883,110.00 |
-18,382,328.00 |
|
Increase (Decrease) in Other Liabilities |
15,509.00 |
46,234.00 |
|
Cash Dividends Paid |
-24,456,215.00 |
-41,574,100.00 |
|
Net Cash Provided by (Used in) Financing Activities |
-5,725,245.00 |
-23,033,247.00 |
|
Effect of Exchange Rate Changes |
-3,894.00 |
-764 |
|
Net Increase (Decrease) in Cash and Cash Equivalents |
760,090.00 |
-3,904,930.00 |
|
Cash and Cash Equivalents, Beginning of year |
1,022,948.00 |
4,927,878.00 |
|
Cash and Cash Equivalents, End of year |
1,783,038.00 |
1,022,948.00 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid |
1,134,007.00 |
1,058,097.00 |
|
Capitalized Interest |
-71,753.00 |
-54,215.00 |
|
Interest Paid- Excluding Capitalized Interest |
1,062,254.00 |
1,003,882.00 |
|
Income Tax Paid |
2,084,912.00 |
2,938,849.00 |
|
Non-cash Investing and Financing Activities |
|
|
|
Current Portion of Long-term Liabilities |
1,429,902.00 |
1,383,110.00 |
|
Current Portion of Bonds Payable |
8,993,952.00 |
5,994,902.00 |
|
Property, Plan and Equipment Transferred to Inventories |
165,143.00 |
119,064.00 |
|
Property, Plan and Equipment Transferred to Non-current Assets
Classified as Held for Sale |
0 |
177,895.00 |
|
Cash Dividends Payable |
0 |
0 |
|
Financial Assets Carried at Cost Reclassified as Available for Sale
Financial Assets |
606,450.00 |
0 |
|
Others |
162,774.00 |
201,028.00 |
Unit: NTD/000
|
Date |
2013# |
|
Cash flows from (used in) operating activities, indirect method |
|
|
Profit (loss) from continuing operations before tax |
23,164,498.00 |
|
Profit (loss) before tax |
23,164,498.00 |
|
Adjustments |
|
|
Adjustments to reconcile profit (loss) |
|
|
Depreciation expense |
8,247,224.00 |
|
Amortization expense |
615,585.00 |
|
Provision (reversal of provision) for bad debt expense |
1,237.00 |
|
Net loss (gain) on financial assets or liabilities at fair value
through profit or loss |
-5,866.00 |
|
Interest expense |
1,482,832.00 |
|
Interest income |
-668,751.00 |
|
Share of loss (profit) of associates and joint ventures accounted for
using equity method |
-16,639,868.00 |
|
Loss (gain) on disposal of property, plant and equipment |
-133,559.00 |
|
Property, plant and equipment transferred to expenses |
249.00 |
|
Loss (gain) on disposal of non-current assets classified as held for
sale |
0.00 |
|
Unrealized foreign exchange loss (gain) |
-132,330.00 |
|
Other revenue, overdue dividends and compensation of board and
directors |
-7,258.00 |
|
Other adjustments to reconcile profit (loss) |
30,290.00 |
|
Total adjustments to reconcile profit (loss) |
-7,210,215.00 |
|
Changes in operating assets and liabilities |
|
|
Changes in operating assets |
|
|
Decrease (increase) in notes receivable |
-215,896.00 |
|
Decrease (increase) in accounts receivable |
-1,646,254.00 |
|
Decrease (increase) in accounts receivable due from related parties |
-448,548.00 |
|
Decrease (increase) in other receivable |
-368,611.00 |
|
Decrease (increase) in other receivable due from related parties |
-2,086,840.00 |
|
Decrease (increase) in inventories |
-399,689.00 |
|
Decrease (increase) in other current assets |
-967,995.00 |
|
Total changes in operating assets |
-6,133,833.00 |
|
Changes in operating liabilities |
|
|
Increase (decrease) in accounts payable |
591,611.00 |
|
Increase (decrease) in accounts payable to related parties |
2,902,833.00 |
|
Increase (decrease) in other payable |
-62,914.00 |
|
Increase (decrease) in other payable to related parties |
384,599.00 |
|
Increase (decrease) in other current liabilities |
1,743,076.00 |
|
Increase (decrease) in accrued pension liabilities |
-235,957.00 |
|
Total changes in operating liabilities |
5,323,248.00 |
|
Total changes in operating assets and liabilities |
-810,585.00 |
|
Total adjustments |
-8,020,800.00 |
|
Cash inflow (outflow) generated from operations |
15,143,698.00 |
|
Interest received |
677,593.00 |
|
Dividends received |
2,165,949.00 |
|
Interest paid |
-1,477,995.00 |
|
Income taxes refund (paid) |
-240,985.00 |
|
Net cash flows from (used in) operating activities |
16,268,260.00 |
|
Cash flows from (used in) investing activities |
|
|
Acquisition of available-for-sale financial assets |
0.00 |
|
Acquisition of investments accounted for using equity method |
-13,017,413.00 |
|
Proceeds from disposal of non-current assets classified as held for
sale |
0.00 |
|
Acquisition of property, plant and equipment |
-13,148,670.00 |
|
Proceeds from disposal of property, plant and equipment |
673,529.00 |
|
Increase in refundable deposits |
-33,145.00 |
|
Decrease in refundable deposits |
0.00 |
|
Increase in other receivables due from related parties |
0.00 |
|
Decrease in other receivables due from related parties |
11,168,093.00 |
|
Acquisition of intangible assets |
-92,791.00 |
|
Increase in other non-current assets |
0.00 |
|
Decrease in other non-current assets |
229,241.00 |
|
Net cash flows from (used in) investing activities |
-14,221,156.00 |
|
Cash flows from (used in) financing activities |
|
|
Increase in short-term loans |
0.00 |
|
Decrease in short-term loans |
-4,067,001.00 |
|
Increase in short-term notes and bills payable |
0.00 |
|
Decrease in short-term notes and bills payable |
-5,098,562.00 |
|
Proceeds from issuing bonds |
19,947,570.00 |
|
Repayments of bonds |
-9,000,000.00 |
|
Proceeds from long-term debt |
8,277,481.00 |
|
Repayments of long-term debt |
-7,431,665.00 |
|
Increase in other payables to related parties |
0.00 |
|
Decrease in other payables to related parties |
-196,159.00 |
|
Increase in other non-current liabilities |
18,721.00 |
|
Cash dividends paid |
-7,336,651.00 |
|
Net cash flows from (used in) financing activities |
-4,886,266.00 |
|
Effect of exchange rate changes on cash and cash equivalents |
306,220.00 |
|
Net increase (decrease) in cash and cash equivalents |
-2,532,942.00 |
|
Cash and cash equivalents at beginning of period |
10,205,819.00 |
|
Cash and cash equivalents at end of period |
7,672,877.00 |
|
Cash and cash equivalents reported in the statement of financial
position |
7,672,877.00 |
|
Other items qualifying for cash and cash equivalents under the
definition of IAS 7 |
0.00 |
Note:
(*)Figures are based on the Taiwan generally accepted accounting principle.
(#) Figures are based on the IFRSs Accounting System.
|
Mega International Commercial Bank Co., Ltd |
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.59.73 |
|
UK Pound |
1 |
Rs.102.36 |
|
Euro |
1 |
Rs.81.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.