|
Report Date : |
03.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
OCEAN PLASTICS CO., LTD. |
|
|
|
|
Registered Office : |
5, 6th Fl., 310, Chukwang Rd., Taipei |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
07.06.1965 |
|
|
|
|
Com. Reg. No.: |
15024509 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
· Engaged in manufacturing and sales of plastic products · Engaged in manufacturing and sales of raw materials for plastics industry · Engaged in manufacturing and sales of plastic industrial attach raw materials. · Engaged in manufacturing of petrochemical materials |
|
|
|
|
No. of Employees : |
About 600 Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but correct |
|
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 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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: |
|
|
Telephone Number: |
+886-2-2308-1188/2306-2131 |
|
Fax Number: |
|
|
E-mail: |
Notes: Subject’s exact name and address are as
above.
|
Registered Name: |
OCEAN PLASTICS CO., LTD. |
|
Registered Address: |
5, 6th Fl., 310, Chukwang Rd., Taipei Taiwan
R.O.C. |
|
Date of Foundation: |
1965-6-7 |
|
Registration Number: |
15024509 |
|
Registry: |
Department of Commerce,
Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 2,272,282,680
(USD 75,212,557) (As of 2014.4, 1 NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 2,272,282,680 (USD 75,212,557) |
|
Legal Representatives: |
Qinming Chen |
|
Legal Form: |
|
|
Principal Activities: |
· Engaged in manufacturing and sales of plastic products · Engaged in manufacturing and sales of raw materials for plastics industry · Engaged in manufacturing and sales of plastic industrial attach raw materials. · Engaged in manufacturing of petrochemical materials |
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject was incorporated
on 1965-6-7 with registered number 15024509
as Joint Stock Company in
Taiwan.
Subject listed on Taiwan stock exchange on 1999-1-26.
|
2008 |
Ocean Plastics
(Hui Zhou) Co., Ltd. was established, manufacturing flexible sheet. |
|
2006 |
Ocean Plastics
(Dong Guan) Co., Ltd. was established, manufacturing PU leather. |
|
2003 |
Ocean factory,
Tao-Yuan factory, Chung-Li factory achieved ISO 9001 (Version 2000) quality
certification. |
|
2002 |
Hunan Ocean Wide
Plastics Ltd. was established, manufacturing rigid PVC pipes. It's OPC first
beginning to enter China local market of construction. |
|
2000 |
The company
restructured the organizations, established Plastic Processing Business
Department(originally Ocean factory), PVC Raw Material Business
Department(originally Tao-Yuan factory), and Construction Material Business Department(originally
Chung-Li factory) |
|
1999 |
OPC was public
on TSE(Taiwan Stock Exchange Market), Chung-Li factory achieved ISO 14001
Environmental certification. |
|
1999-1-26 |
Subject was
listed in Taiwan Stock Exchange on |
|
1998 |
Water-based PU
was developed, and began to develop environmental friendly materials. |
|
1997 |
Ocean factory
achieved ISO 9002 quality certification. The Tao-Yuan factory was granted
RW-TuV ISO 9002 quality certification. |
|
1996 |
Chung-Li factory
was granted ISO 9002 quality certification. |
|
1995 |
.New item of PVC
rigid sheets were added to our product lines. |
|
1994 |
The Ocean
factory achieved DNV ISO 9002 quality certification. |
|
1993 |
Started producing
polymer-blended compound for OA housing. |
|
1991 |
Developed
conductive PVC pellet, entered into IC tube packaging industry. |
|
1990 |
PVC rigid board
and PVC foam plate were added to our product lines. |
|
1987 |
PVC transparent pellet
for general medical equipment(such as oxygen mask) |
|
1985 |
Chung-Li factory
was established, manufacturing rigid PVC pipes |
|
1978 |
R&D
department was founded. |
|
1976 |
Tao-Yuan factory
was established, manufacturing PVC resin. |
|
1970 |
With the
technology license from a Japanese company Akimai Gomu Co., Ltd., began
manufacturing high quality sponge leather and polyurethane leather. |
|
1967 |
PVC printed
sheets and plastic wallpaper were added to our product lines. |
|
1965 |
With the technology
license from a Japanese company Kanegafuchi Chemical Co., started to produce
PVC resin. And Ocean factory was established in Chung-Ho city in Taipei,
manufacturing PVC sheets, pipes, films and leather. |
Awards
|
Year |
Awards |
|
2007 |
Blue chip importer and exporter |
|
2008 |
Blue chip importer and exporter |
|
2009 |
Blue chip importer and exporter |
Standard of Blue chip importer and exporter
Unit: USD
|
Year |
Amount |
|
2007 |
18,000,000 |
|
2008 |
19,000,000 |
|
2009 |
15,000,000 |
|
Name |
Subscription Shares |
|
Qinming Chen |
5,695,202 |
|
Rugeng Wang |
|
|
731,230 |
|
|
Xie Xun Investment Co., Ltd (Liberal Translation) |
1,237,196 |
|
Qinxiong Chen |
3,943,860 |
|
Qishou Chen |
673,101 |
|
Xuan Yang Investment Co., Ltd (Liberal Translation) |
1,440,247 |
|
Want-Want Co., Ltd. |
2,976,669 |
|
Xiurong Wu |
525,638 |
|
Ziyun Xie |
1,152,769 |
The information above is that of subject’s major shareholders.
Shareholder Information:
|
1 |
|
|
Registered Name: |
Xie Xun Investment Co., Ltd (Liberal Translation) |
|
Registered Address: |
6F., No.310, Juguang Rd., Wanhua Dist.,
Taipei City, Taiwan (R.O.C.) |
|
Date of Foundation: |
1993-12-11 |
|
Registration Number: |
84494576 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 30,000,000 (USD 993,000) (As of 2014.4, 1 NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 28,000,000 (USD 926,800) |
|
Legal Representatives: |
Qiongyu Linchen |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2012-9-18 |
|
2 |
|
|
Registered Name: |
Xuan Yang Investment Co., Ltd (Liberal Translation) |
|
Registered Address: |
7F., No.310, Juguang Rd., Wanhua Dist.,
Taipei City, Taiwan (R.O.C.) |
|
Date of Foundation: |
2004-12-12 |
|
Registration Number: |
89994353 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 20,000,000 (USD 662,000) (As of 2014.4, 1 NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 20,000,000 (USD 662,000) |
|
Legal Representatives: |
Qinxin Chen |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2012-6-25 |
|
3 |
|
|
Registered Name: |
Want-Want Co., Ltd. |
|
Registered Address: |
5F.-3, No.17, Sec. 1, Chengde Rd., Datong
Dist., Taipei City, Taiwan (R.O.C.) |
|
Date of Foundation: |
1987-3-17 |
|
Registration Number: |
22421075 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 151,800,000 (USD 5,024,580) (As of 2014.4, 1 NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 151,800,000 (USD 5,024,580) |
|
Legal Representatives: |
Yusheng Li |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2012-7-12 |
Factory
|
1 |
|
|
Name: |
Taoyuan Plant 3 |
|
Address: |
No.375, Haihu E. Rd., Luzhu Township, Taoyuan County, Taiwan (R.O.C.)
and No.66, Lane 239, Haihu E. Rd., Taoyuan County, Taiwan (R.O.C.) |
|
Date of Registration: |
2013-5-13 |
|
Factory Registration Number: |
03001682 |
|
Factory Manager: |
Qinming Chen |
|
Status: |
In production |
|
Date of Last Annual Return: |
2013-5-13 |
|
Major Products: |
220 Plastic products |
|
2 |
|
|
Name: |
Dayang Plant |
|
Address: |
No.353, Sec. 2, Zhongshan Rd., Zhonghe Dist., New Taipei City, Taiwan
(R.O.C.) |
|
Date of Foundation: |
1969-1-1 |
|
Date of Registration: |
1978-4-4 |
|
Factory Registration Number: |
99600860 |
|
Factory Manager: |
Qinming Chen |
|
Status: |
In production |
|
Date of Last Annual Return: |
2013-4-16 |
|
Major Products: |
184 Synthetic resin, plastic and rubber 220 Plastic products |
|
3 |
|
|
Name: |
Taoyuan Plant 2 |
|
Address: |
No.375, Haihu E. Rd., Luzhu Township, Taoyuan County, Taiwan (R.O.C.) |
|
Date of Registration: |
2003-11-13 |
|
Factory Registration Number: |
99687301 |
|
Factory Manager: |
Qinming Chen |
|
Status: |
In production |
|
Date of Last Annual Return: |
2003-11-13 |
|
Major Products: |
184 Synthetic resin, plastic and rubber |
Office
|
Address: |
No. 131, Jianping 14 Street, Tainan, Taiwan. |
|
Tel: |
+886-6-297-4511 |
Related Companies
|
1 |
|
|
Name: |
Ocean Plastics (Hui Zhou) Co., Ltd. |
|
Tel: |
+886-752-3728896 |
|
Fax: |
+886-752-3728890 |
|
2 |
|
|
Name: |
Ocean Plastics (Dong Guan) Co., Ltd. |
|
Address: |
Weiwu Industrial, Nan Ya Country, Daoyao Town, Dongguan City, The
Mainland Of China |
|
Tel: |
+886-769-81331601 |
|
Fax: |
+886-769-88328980 |
|
3 |
|
|
Name: |
Hunan Ocean Wide Plastics Ltd. |
|
Address: |
No. 7, Wangwang East Road, Gao Tang Ling Town, Wangcheng County,
Changsha City, Hunan Province, The Mainland Of China |
|
Tel: |
+886-731-8054888/8054889 |
|
Fax: |
+886-731-8054885 |
Core Management
Directors
|
1 |
|
|
Name |
Qinming Chen |
|
Position |
Board Chairman/Manager |
|
Date of Appointment |
1997-6-30 |
|
2 |
|
|
Name |
Rugeng Wang |
|
Position |
Director |
|
3 |
|
|
Name |
Zongbin Zhu |
|
Position |
Director |
|
4 |
|
|
Name |
Qinxiong Chen |
|
Position |
Director |
|
5 |
|
|
Name |
Qishou Chen |
|
Position |
Director |
|
6 |
|
|
Name |
Qinsheng Chen |
|
Position |
Director |
|
7 |
|
|
Name |
Yuqin Xie |
|
Position |
Director |
|
8 |
|
|
Name |
Xiurong Wu |
|
Position |
Supervisor |
|
9 |
|
|
Name |
Ziyun Xie |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 600 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
Production
Information
·
Subject is a manufacturer of plastic products
·
It is introduced that subject has three factories
in Taiwan for production.
·
It is introduced that subject has obtained ISO
14001, ISO 9001 and ISO 9002 certifications.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Manufacture and sales of plastic materials. |
|
-- |
Manufacture and sales of raw materials for plastics
industry |
|
-- |
Manufacture and sales of plastic industrial attach raw materials. |
|
C801020 |
Manufacture of petrochemical materials |
|
C801040 |
|
|
C801990 |
Manufacture of other chemical materials |
|
H701010 |
Residential and building developing and rental industry |
|
H701020 |
Industrial plant developing and rental industry |
|
H703010 |
Renting plant. |
|
H703030 |
Renting office building |
|
F401010 |
International trading business |
|
F301010 |
Department store industry |
|
F301020 |
Super market industry |
|
F301030 |
General department store. |
|
ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
It is introduced that subject purchases its raw materials both at home and abroad.
·
The subject is mainly engaged in sales of plastic
products
·
It is introduced that subject’s major products includes
DMF-Free ECO PU, Wood Plastic Composites, PVC Sheet, PVC Leather, PVC Raw
Material, PVC Construction Material
·
It is introduced that subject’s selling territory
includes Asia, America, Europe
·
It is introduced that subject’s major customers are
manufacturers of shoes, furniture, sports products, accessories of automobiles
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic
Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials |
COD, CBD |
100% |
Foreign
Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials |
CBD |
100% |
Sales
Domestic
Markets
|
Sales Terms |
Proportion |
|
|
Plastic
products. |
COD, CBD |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Plastic products
|
CBD |
100% |
Unit: NTD/000
|
Date |
2012-12-31 |
2011-12-31 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash
equivalents |
87,627.00 |
96,700.00 |
|
Financial
assets measured at fair value through profit or loss - current |
51.00 |
0.00 |
|
Notes
receivable - net |
66,971.00 |
61,559.00 |
|
Notes
receivable - related parties - net |
652.00 |
554.00 |
|
Accounts
receivable - net |
452,036.00 |
425,883.00 |
|
Accounts
receivable - related parties - net |
12,935.00 |
12,152.00 |
|
Other
receivables - related parties |
4,626.00 |
4,174.00 |
|
Inventories |
494,329.00 |
530,182.00 |
|
Other
current assets |
35,516.00 |
52,094.00 |
|
Current
assets |
1,154,743.00 |
1,183,298.00 |
|
Funds and Investments |
|
|
|
Available-for-sale
financial assets - non current |
10,463.00 |
7,859.00 |
|
Financial
assets carried at cost - non current |
267,228.00 |
227,133.00 |
|
Equity
investments under equity method |
1,189,529.00 |
1,291,050.00 |
|
Investments |
1,189,529.00 |
1,291,050.00 |
|
Funds
and long-term investments |
1,467,220.00 |
1,526,042.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
259,042.00 |
259,042.00 |
|
Buildings
and structures |
493,543.00 |
363,481.00 |
|
Machinery
and equipment |
2,430,554.00 |
2,342,763.00 |
|
Other
facilities |
1,147,194.00 |
1,088,554.00 |
|
Revaluation
increment |
4,283,186.00 |
4,283,186.00 |
|
Cost and
revaluation increment |
8,613,519.00 |
8,337,026.00 |
|
Accumulated
depreciation |
-3,484,689.00 |
-3,402,085.00 |
|
Accumulated
impairment - fixed assets |
-51,604.00 |
-51,604.00 |
|
Construction
in process and prepayment for equipments |
150,412.00 |
311,554.00 |
|
Fixed
assets |
5,227,638.00 |
5,194,891.00 |
|
Intangible Assets |
|
|
|
Intangible
assets |
0.00 |
0.00 |
|
OtherAssets |
|
|
|
Idled
assets |
708,899.00 |
699,092.00 |
|
Long-term
notes and accounts receivable - related parties |
73,327.00 |
79,755.00 |
|
Other
assets - other |
964.00 |
1,265.00 |
|
Other
assets |
783,190.00 |
780,112.00 |
|
Assets |
8,632,791.00 |
8,684,343.00 |
|
Liabilities and
Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term
borrowings |
450,000.00 |
500,000.00 |
|
Financial liabilities
measured at fair value through profit or loss - current |
1,333.00 |
0.00 |
|
Notes
payable |
5,757.00 |
4,554.00 |
|
Accounts
payable |
380,979.00 |
396,456.00 |
|
Accounts
payable - related parties |
2,115.00 |
2,006.00 |
|
Accrued
expenses |
109,811.00 |
146,761.00 |
|
Long-term
liabilities - current portion |
20,000.00 |
0.00 |
|
Other
current liabilities |
29,737.00 |
63,309.00 |
|
Current
liabilities |
999,732.00 |
1,113,086.00 |
|
Long term Liabilities |
|
|
|
Long-term
borrowings |
730,000.00 |
500,000.00 |
|
Long-term
liabilities |
730,000.00 |
500,000.00 |
|
Reserves |
|
|
|
Reserve for
land revaluation increment tax |
1,350,538.00 |
1,350,538.00 |
|
Reserves |
1,350,538.00 |
1,350,538.00 |
|
Other Liabilities |
|
|
|
Pension
reserve / accrued pension liability |
420,066.00 |
426,655.00 |
|
Other
liabilities - other |
25,249.00 |
25,634.00 |
|
Other
liabilities |
445,315.00 |
452,289.00 |
|
Liabilities |
3,525,585.00 |
3,415,913.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
2,272,283.00 |
2,272,283.00 |
|
Capital Surplus |
|
|
|
Capital
surplus - treasury stock transactions |
7,113.00 |
7,113.00 |
|
Capital
surplus - long-term equity investments |
93,591.00 |
93,591.00 |
|
Capital
surplus - other |
679.00 |
679.00 |
|
Capital
surplus |
101,383.00 |
101,383.00 |
|
Retained Earnings |
|
|
|
Legal
reserve |
5,515.00 |
133,123.00 |
|
Special
reserve |
0.00 |
40,159.00 |
|
Unappropriated
retained earnings |
-127,350.00 |
-167,767.00 |
|
Retained
earnings |
-121,835.00 |
5,515.00 |
|
Stockholders' Equity
and Other adjustmen |
|
|
|
Cumulative
translation adjustments |
75,637.00 |
96,239.00 |
|
Net loss
not recognized as pension cost |
-17,682.00 |
0.00 |
|
Unrealized
gains (losses) on financial instruments |
-40,677.00 |
-45,087.00 |
|
Unrealized
Revaluation Increment |
2,874,286.00 |
2,874,286.00 |
|
Treasure
stock |
-36,189.00 |
-36,189.00 |
|
Equity
adjustments |
2,855,375.00 |
2,889,249.00 |
|
Stockholders‘
equity |
5,107,206.00 (USD
169,048,518.60) |
5,268,430.00 (USD
174,385,033.00) |
|
Number of treasury
stock acquired by the company and subsidiaries (unit: share) |
6,542,716.00 |
6,542,716.00 |
|
|
0.00 |
0.00 |
(As of 2014.4, 1 NTD = 0.0331 USD)
Unit:
NTD/000
|
2012 |
2011 |
|
|
Sales |
4,922,780.00 (USD
162,944,018.00) |
5,093,719.00 (USD
168,602,098.90) |
|
Sales
returns |
1,807.00 |
4,143.00 |
|
Sales
discounts and allowances |
19,637.00 |
19,643.00 |
|
Sales |
4,901,336.00 |
5,069,933.00 |
|
Operating
income |
4,901,336.00 |
5,069,933.00 |
|
Cost of
sales |
4,647,585.00 |
4,959,411.00 |
|
Operating
costs |
4,647,585.00 |
4,959,411.00 |
|
Gross
profit (loss) from operations |
253,751.00 |
110,522.00 |
|
Selling
expense |
198,087.00 |
197,653.00 |
|
General
and administrative expenses |
103,922.00 |
94,808.00 |
|
Operating
expenses |
302,009.00 |
292,461.00 |
|
Operating
income (loss) |
-48,258.00 |
-181,939.00 |
|
Non-Operating Income |
|
|
|
Interest
income |
500.00 |
63.00 |
|
Inome from
long-term equity investments under the equity method |
0.00 |
26,161.00 |
|
Dividends |
2,605.00 |
5,077.00 |
|
Investment
income |
2,605.00 |
31,238.00 |
|
Reversal
of provision for bad debts |
9,395.00 |
0.00 |
|
Revaluation
gain on financial assets |
1,232.00 |
0.00 |
|
Miscellaneous
income |
8,628.00 |
5,203.00 |
|
Non-operating
revenues and gains |
22,360.00 |
36,504.00 |
|
Non-Operating Expenses |
|
|
|
Interest
expense |
11,786.00 |
9,079.00 |
|
Losses
from long-term equity investments under the equity method |
79,162.00 |
0.00 |
|
Investment
loss |
79,162.00 |
0.00 |
|
Loss on
disposal of fixed assets |
0.00 |
3,213.00 |
|
Loss on
sale of investments |
0.00 |
695.00 |
|
Foreign
exchange losses |
1,025.00 |
5,201.00 |
|
Impairment
loss on assets |
705.00 |
0.00 |
|
Revaluation
loss on financial assets |
0.00 |
132.00 |
|
Miscellaneous
disbursements |
2,846.00 |
555.00 |
|
Non-operating
expenses and losses |
95,524.00 |
18,875.00 |
|
Income from
continuing operations before income tax |
-121,422.00 |
-164,310.00 |
|
Income tax
expense (benefit) |
5,928.00 |
3,457.00 |
|
Income
from continuing operations |
-127,350.00 |
-167,767.00 |
|
Net income
(loss) |
-127,350.00 |
-167,767.00 |
|
Primary Earnings per
Share |
|
|
|
Primary
earnings per share |
-0.58 |
-0.76 |
|
Diluted earnings per
share |
|
|
(As of 2014.4, 1 NTD = 0.0331 USD)
|
Date |
2012 |
2011 |
|
Cash Flows from Operating Activities - Indirect Method |
|
|
|
Net Income (Loss) |
-127,350.00 |
-167,767.00 |
|
Adjustments to Reconcile Net Income to
Net Cash Provided by (Used in) Operating Activities |
|
|
|
Depreciation
Expense |
89,029.00 |
82,569.00 |
|
Amortization
Expense |
301.00 |
422.00 |
|
Provision
(Reversal of Provision) for Bad Debts Losses |
-9,395.00 |
1,536.00 |
|
Loss (Gain) on
Decline (Recovery) in Market Value, Scrap and Obsolescence of Inventories |
-17,364.00 |
6,676.00 |
|
Loss (Gain) on
Physical Inventory |
0.00 |
0.00 |
|
Investment Loss
(Income) Recognized under Equity Method |
79,162.00 |
-26,161.00 |
|
Cash Dividends
Received from Investments Accounted for under Equity Method |
8,700.00 |
4,060.00 |
|
Loss (Gain) on
Disposal of Property, Plan and Equipment |
0.00 |
3,213.00 |
|
Loss (Gain) on
Disposal of Investments |
0.00 |
695.00 |
|
Impairment
Losses on Financial Asset |
705.00 |
0.00 |
|
Loss (Gain) on
Deferred Income Tax |
6,988.00 |
-1,370.00 |
|
Changes in Operating Assets and
Liabilities |
|
|
|
Decrease
(Increase) in Financial Assets Held for Trading |
0.00 |
1,406.00 |
|
Decrease
(Increase) in Notes Receivable |
-4,785.00 |
-87,822.00 |
|
Decrease
(Increase) in Notes Receivable - Related Parties |
-98.00 |
409.00 |
|
Decrease
(Increase) in Accounts Receivable |
-17,385.00 |
3,908.00 |
|
Decrease
(Increase) in Accounts Receivable - Related Parties |
-1,235.00 |
801.00 |
|
Decrease
(Increase) in Other Receivables |
13,024.00 |
11,581.00 |
|
Decrease
(Increase) in Inventories |
53,217.00 |
189,453.00 |
|
Decrease
(Increase) in Other Current Assets |
401.00 |
-19,261.00 |
|
Increase
(Decrease) in Financial Liabilities Held for Trading |
1,282.00 |
0.00 |
|
Increase
(Decrease) in Notes Payable |
1,202.00 |
-4,998.00 |
|
Increase
(Decrease) in Notes Payable - Related Parties |
0.00 |
0.00 |
|
Increase
(Decrease) in Accounts Payable |
-15,476.00 |
-101,025.00 |
|
Increase
(Decrease) in Income Tax Payable |
0.00 |
0.00 |
|
Increase
(Decrease) in Accrued Expenses |
-36,950.00 |
23,414.00 |
|
Increase
(Decrease) in Other Payables |
3,970.00 |
-532.00 |
|
Increase
(Decrease) in Other Payable - Related Parties |
109.00 |
226.00 |
|
Increase
(Decrease) in Other Current Liabilities |
-4,118.00 |
7,093.00 |
|
Increase
(Decrease) in Accrued Pension Liabilities |
-24,271.00 |
9,878.00 |
|
Net Cash Provided by (Used in) Operating Activities |
-337.00 |
-61,596.00 |
|
Cash Flows from Investing Activities |
|
|
|
Proceeds from Disposal of
Available-for-sale Financial Assets |
0.00 |
2,166.00 |
|
Acquisition of Financial Assets Carried
at Cost |
-40,800.00 |
0.00 |
|
Acquisition of Investments Accounted for
by Equity Method |
0.00 |
-54,669.00 |
|
Purchase of Property, Plant and Equipment |
-165,007.00 |
-220,582.00 |
|
Proceeds from Disposal of Property, Plant
and Equipment |
0.00 |
0.00 |
|
Decrease (Increase) in Refundable
Deposits |
0.00 |
0.00 |
|
Increase in Deferred Charges |
0.00 |
-581.00 |
|
Decrease (Increase) in Other Receivables
- Related Parties |
-2,929.00 |
-11,316.00 |
|
Net Cash Provided by (Used in) Investing
Activities |
-208,736.00 |
-284,982.00 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in Short-term Loans |
-50,000.00 |
100,000.00 |
|
Proceeds from Long-term Debt |
550,000.00 |
450,000.00 |
|
Repayment of Long-term Debt |
-300,000.00 |
-250,000.00 |
|
Increase (Decrease) in Guarantee Deposits
Received |
0.00 |
-143.00 |
|
Net Cash Provided by (Used in) Financing
Activities |
200,000.00 |
299,857.00 |
|
Net Increase (Decrease) in Cash and Cash Equivalents |
-9,073.00 |
-46,721.00 |
|
Cash and Cash Equivalents, Beginning of year |
96,700.00 |
143,421.00 |
|
Cash and Cash Equivalents, End of year |
87,627.00 |
96,700.00 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid |
15,105.00 |
11,998.00 |
|
Capitalized Interest |
-3,351.00 |
-2,987.00 |
|
Interest Paid- Excluding Capitalized
Interest |
11,754.00 |
9,011.00 |
|
Income Tax Paid |
45.00 |
4,833.00 |
|
Non-cash Investing and Financing Activities |
|
|
|
Current Portion of Long-term Liabilities |
20,000.00 |
0.00 |
|
Property, Plan and Equipment Transferred
to Deferred Charges |
0.00 |
0.00 |
|
Other Assets Transferred to Property,
Plan and Equipment |
0.00 |
33,171.00 |
|
Unrealized Valuation Gains or Losses on
Financial Instruments |
-2,604.00 |
19,431.00 |
|
Unrealized Gains or Losses on Financial
Instruments Recognized due to Equity Changes in Long-term Investments |
-1,806.00 |
23,660.00 |
|
Cumulative Translation Adjustments |
-20,602.00 |
52,774.00 |
|
Investing Activities Affecting Both Cash and Non-cash Items |
|
|
|
Cash Paid for Acquisition of Property,
Plant and Equipment |
|
|
|
Increase in
Property, Plant and Equipment |
131,583.00 |
240,293.00 |
|
Increase
(Decrease) in Payable for Equipment Purchased |
33,424.00 |
-19,711.00 |
|
Cash Paid for
Acquisition of Property, Plant and Equipment |
165,007.00 |
220,582.00 |
|
Other Supplemental Information |
|
|
|
Legal Capital Atonement Accumulated Loss |
127,608.00 |
141,450.00 |
|
Reserve for Land Revaluation Increment Tax |
0.00 |
1,350,538.00 |
|
Land Revaluation Increment |
0.00 |
2,836,277.00 |
|
Other special reserve cover deficit. |
40,159.00 |
0.00 |
Subject declined to
disclose its bank details; from other source we cannot obtain the relevant information,
either.
Mortgage
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
022703 |
|
Debtor Name: |
Ocean Plastics Co., Ltd. |
|
Document Number: |
030349 |
|
Date of Registration: |
1985-2-12 |
|
Date of Alteration: |
1985-2-12 |
|
Status: |
Paid off |
Lawsuit
|
2007,Beibaoxianjian, 24 |
|
|
Date of Trial: |
2007-11-30 |
|
Reason: |
|
Name |
Mr. Wong |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.14 |
|
|
1 |
Rs.99.02 |
|
Euro |
1 |
Rs.80.63 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.