|
Report Date : |
30.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
CHINA GENERAL PLASTICS CORP. |
|
|
|
|
Registered Office : |
12th Floor, No.37, Ji-Hu Road, Nei-Hu Dist., Taipei City |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
29.04.1964 |
|
|
|
|
Com. Reg. No.: |
11686106 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing of plastic products |
|
|
|
|
No. of Employees : |
About 926 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 : |
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: |
12th Floor,
No.37, Ji-Hu Road, Nei-Hu Dist., Taipei City, Taiwan, R.O.C. |
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-8751-6888 |
|
Fax Number: |
Notes: We contacted with the subject, the
subject introduced that the supplied address also belongs to the subject, and
introduced the exact name and headquarters address are as above.
|
Registered Name: |
CHINA GENERAL PLASTICS CORP. |
|
Registered Address: |
12th Floor, No.37, Ji-Hu Road, Nei-Hu Dist.,
Taipei City, Taiwan, R.O.C. |
|
Date of Foundation: |
1964-4-29 |
|
Registration Number: |
11686106 |
|
Registry: |
Department of Commerce,
Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD
5,000,000,000 (USD 165,500,000) (As of 2014.6, 1 NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 4,502,917,390 (USD 149,046,566) |
|
Legal Representatives: |
Yigui Wu |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject was incorporated on
1964-4-29 with registered number 11686106
as Joint Stock Company in
Taiwan.
Subject was listed in the Taiwan Stock
Exchange on
|
Name |
Subscription Shares |
|
Lian Ju International Investment Co.Ltd (Liberal Translation) |
108,967,276 |
|
He Lian International Investment Co.Ltd
(Liberal Translation) |
|
|
14,712,618 |
The information above is that of subject’s major shareholders.
Shareholder Information:
|
1 |
|
|
Registered Name: |
Lian Ju International Investment Co.Ltd (Liberal Translation) |
|
Registered Address: |
12th Floor, No.37, Ji-Hu Road, Nei-Hu Dist.,
Taipei City, Taiwan, R.O.C. |
|
Date of Foundation: |
1996-10-18 |
|
Registration Number: |
97168102 |
|
Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C. |
|
Registered Capital: |
NTD 3,567,616,000 (USD 118,088,090) (As of 2014.6, 1 NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 3,567,616,000 (USD 118,088,090) |
|
Legal Representatives: |
Yingui Wu |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-6-19 |
|
2 |
|
|
Registered Name: |
He Lian International Investment Co.Ltd (Liberal Translation) |
|
Registered Address: |
10F., No.75, Sec. 3, Minsheng E. Rd.,
Zhongshan Dist., Taipei City, Taiwan (R.O.C.) |
|
Date of Foundation: |
1996-10-21 |
|
Registration Number: |
97168335 |
|
Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C. |
|
Registered Capital: |
NTD 735,000,000 (USD 24,328,500) (As of 2014.6, 1 NTD = 0.0331 USD) |
|
Paid-up Capital: |
NTD 735,000,000 (USD 24,328,500) |
|
Legal Representatives: |
Yishao Ke |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2011-7-25 |
Factory
|
Address: |
No.571, Minzu Rd., 17 Lin, Tian Liao Li, Toufen Township, Miaoli
County, Taiwan (R.O.C.) |
|
Date of Foundation: |
1969-4-16 |
|
Date of Registration: |
1969-4-16 |
|
Factory Registration Number: |
99631801 |
|
Factory Manager: |
Wanda Chen |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2012-7-12 |
|
Major Products: |
220 Plastic-Rubber Products |
Related Companies
|
Continental General Plastics (Zhong-shan) Co.,
Ltd. Zhongshan High Tech Industry Development
Zone, Yan Jiang Dong Er Lu, Zhong Shan , Guang Dong, China CGPC America Corporation 11310 HARREL ST. MIRA LOMA, CA 91752-1408
U.S.A C G Europe Limited 10b, Dalton Court, Commercial Road,
Darwen, Lancs BB3 0DG, United Kingdom CGPC (BVI) Holding, Co., Ltd. Krystal Star International Corporation China General Plastics (HK) Co., Ltd. China General Plastics (Lang Fang) Co., Ltd |
Branch Companies
|
Name |
Taipei Branch |
|
Registered Address |
10F., No.3, Sec. 1, Dunhua S. Rd., Songshan Dist., Taipei City, Taiwan
(R.O.C.) |
|
Registration Number |
80347118 |
|
Date of Registration |
2002-11-11 |
|
Status |
Dissolved |
|
Manager Name |
Guohua Shen |
|
Date of Last Annual Return |
2005-9-6 |
Major Departments
|
1 |
|
|
Name |
Export Sales (PVC products) |
|
Address |
|
|
Tel |
+886-2-8751-6888#3708 |
|
2 |
|
|
Name |
Export Sales (Houseware products) |
|
Address |
|
|
Tel |
+886-2-8751-6888#2803 |
Core Management
Directors
|
1 |
|
|
Name |
Yigui Wu |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Yaosheng Chen |
|
Position |
Director |
|
3 |
|
|
Name |
Jizhong Zhang |
|
Position |
Director |
|
4 |
|
|
Name |
Hanfu Lin |
|
Position |
Director/Manager |
|
Date of Appointment |
2013-2-27 |
|
5 |
|
|
Name |
Baoluo Ying |
|
Position |
Director |
|
6 |
|
|
Name |
Hantai Liu |
|
Position |
Director |
|
7 |
|
|
Name |
Zhentu Liu |
|
Position |
Director |
|
8 |
|
|
Name |
Yishao Ke |
|
Position |
Supervisor |
|
Name |
Guohong Li |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 926 Employees (As of 2014-4-30) |
Offices &
Factories
|
|
Headquarters |
|
Add |
12th Floor, No.37, Ji-Hu Road, Nei-Hu Dist., Taipei City, Taiwan,
R.O.C. |
Production
Information
·
Subject is a manufacturer of plastic products
·
It is introduced that
subject has a factory in Taiwan for production and invested in the factories in
the mainland of China.
·
It is introduced that
subject has obtained ISO 9001:2008, ISO/TS 16949:2009, OHSAS 18001:2007, ISO
14001:2004, ISO/IEC 17025:2005 certifications.
·
We offered subject’ s
major annual production information as following
for production:
Unit: Tons
|
|
2013 |
2012 |
||
|
Products |
Capacity of production |
Output of production |
Capacity of production |
Output of production |
|
PVC Powder, PVC Compound and Chemical Products |
433,308 |
356,308 |
433,308 |
334,524 |
|
Construction Products |
25,380 |
21,171 |
25,380 |
18,084 |
|
PVC Film |
68,460 |
43,415 |
68,460 |
43,121 |
|
PVC Leather |
9,800 |
7,740 |
9,800 |
7,391 |
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Manufacturing of raw materials and plastic |
|
-- |
Manufacturing of plastic processed products. |
|
-- |
Manufacturing of related chemical products for plastic processed
products. |
|
-- |
Manufacturing of rollers of printing and embossing. |
|
-- |
Manufacturing, technical service (including installing) and sales of
chemical machinery and equipment (including single and whole equipment for
plant for vinyl chloride). |
|
-- |
Transporting, sales, entrusting and processing of above related
products. |
|
-- |
Researching, promoting services of above related business. |
|
F107110 |
Wholesales of petrochemical materials. |
|
F207110 |
Retails of petrochemical materials. |
|
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 PVC resin, PVC compound, PVC film, PVC
leather, PVC sheet, chemical products
·
It is introduced that
subject’s selling territory includes Asia, Europe, Middle East
·
It is introduced that
subject’s major customers are manufacturers of plastic products, construction
industry, chemical industry, printing industry
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
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 |
480,199.00 |
136,175.00 |
|
Financial assets
measured at fair value through profit or loss - current |
619,432.00 |
1,049,143.00 |
|
Available-for-sale
financial assets - current |
3,135.00 |
3,887.00 |
|
Notes
receivable - net |
222,018.00 |
200,289.00 |
|
Accounts receivable
- net |
518,651.00 |
619,259.00 |
|
Accounts
receivable - related parties - net |
62,913.00 |
133,500.00 |
|
Other
receivables |
3,914.00 |
1,920.00 |
|
Other
receivables - related parties |
6,268.00 |
45,609.00 |
|
Other
financial assets - current |
475.00 |
107.00 |
|
Inventories |
709,964.00 |
695,051.00 |
|
Prepaid
expenses |
12,332.00 |
10,511.00 |
|
Other
current assets |
41,868.00 |
48,212.00 |
|
Current
assets |
2,681,169.00 |
2,943,663.00 |
|
Funds and Investments |
|
|
|
Equity
investments under equity method |
2,793,590.00 |
2,335,576.00 |
|
Investments |
2,793,590.00 |
2,335,576.00 |
|
Funds
and long-term investments |
2,793,590.00 |
2,335,576.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
120,105.00 |
120,105.00 |
|
Buildings
and structures |
638,341.00 |
626,725.00 |
|
Machinery
and equipment |
4,246,890.00 |
4,324,248.00 |
|
Transportation
equipment |
35,416.00 |
36,999.00 |
|
Other
facilities |
166,767.00 |
160,320.00 |
|
Revaluation
increment |
1,557,151.00 |
1,553,107.00 |
|
Cost and
revaluation increment |
6,764,670.00 |
6,821,504.00 |
|
Accumulated
depreciation |
-4,506,110.00 |
-4,532,501.00 |
|
Construction
in process and prepayment for equipments |
69,728.00 |
90,082.00 |
|
Fixed
assets |
2,328,288.00 |
2,379,085.00 |
|
Intangible Assets |
|
|
|
OtherAssets |
|
|
|
Rental
assets |
30,012.00 |
30,051.00 |
|
Idled
assets |
0.00 |
0.00 |
|
Guarantee
deposits paid |
300.00 |
0.00 |
|
Deferred
charges |
6,444.00 |
0.00 |
|
Long-term
notes and accounts receivable - related parties |
10,038.00 |
0.00 |
|
Deferred
income tax assets - non current |
229,376.00 |
207,686.00 |
|
Other
assets - other |
7,025.00 |
7,000.00 |
|
Other
assets |
283,195.00 |
244,737.00 |
|
Assets |
8,086,242.00 |
7,903,061.00 |
|
Liabilities and
Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term
notes and bills payable |
0.00 |
299,846.00 |
|
Financial
liabilities measured at fair value through profit or loss - current |
4.00 |
0.00 |
|
Notes
payable |
364.00 |
146.00 |
|
Accounts
payable |
189,706.00 |
198,504.00 |
|
Accounts payable
- related parties |
351,209.00 |
366,064.00 |
|
Income tax
payable |
61,973.00 |
68,381.00 |
|
Accrued
expenses |
227,342.00 |
197,759.00 |
|
Other
payables - related parties |
1,481.00 |
6,627.00 |
|
Other payables |
5,858.00 |
3,927.00 |
|
Other
current liabilities |
51,044.00 |
54,774.00 |
|
Current
liabilities |
888,981.00 |
1,196,028.00 |
|
Long term Liabilities |
|
|
|
Long-term
borrowings |
0.00 |
297,965.00 |
|
Long-term
liabilities |
0.00 |
297,965.00 |
|
Reserves |
|
|
|
Reserve
for land revaluation increment tax |
483,213.00 |
483,213.00 |
|
Reserves |
483,213.00 |
483,213.00 |
|
Other Liabilities |
|
|
|
Pension
reserve / accrued pension liability |
1,102,710.00 |
1,074,896.00 |
|
Guarantee
deposits received |
3,271.00 |
4,808.00 |
|
Other
liabilities - other |
14,236.00 |
16,432.00 |
|
Other
liabilities |
1,120,217.00 |
1,096,136.00 |
|
Liabilities |
2,492,411.00 |
3,073,342.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common
stock |
4,248,035.00 |
4,248,035.00 |
|
Capital Surplus |
|
|
|
Capital surplus
- long-term equity investments |
1,419.00 |
1,052.00 |
|
Capital
surplus - other |
7,920.00 |
7,928.00 |
|
Capital
surplus |
9,339.00 |
8,980.00 |
|
Retained Earnings |
|
|
|
Legal
reserve |
0.00 |
19,895.00 |
|
Unappropriated
retained earnings |
777,014.00 |
-40,399.00 |
|
Retained
earnings |
777,014.00 |
-20,504.00 |
|
Stockholders' Equity
and Other adjustmen |
|
|
|
Cumulative
translation adjustments |
39,892.00 |
64,820.00 |
|
Net loss
not recognized as pension cost |
-160,944.00 |
-134,161.00 |
|
Unrealized
gains (losses) on financial instruments |
27,469.00 |
9,523.00 |
|
Unrealized
Revaluation Increment |
653,026.00 |
653,026.00 |
|
Equity
adjustments |
559,443.00 |
593,208.00 |
|
Stockholders’
equity |
5,593,831.00 (USD 185,155,806.10) |
4,829,719.00 (USD 159,863,698.90) |
|
Number of
treasury stock acquired by the company and subsidiaries (unit: share) |
0.00 |
0.00 |
|
|
0.00 |
0.00 |
(As of 2014.6, 1 NTD = 0.0331 USD)
Unit: NTD/000
|
Date |
2012 |
2011 |
|
Sales |
8,012,270.00 (USD 265,206,137.00) |
9,284,714.00 (USD 307,324,033.40) |
|
Sales
returns |
5,420.00 |
11,860.00 |
|
Sales
discounts and allowances |
38,703.00 |
55,083.00 |
|
Sales |
7,968,147.00 |
9,217,771.00 |
|
Operating
income |
7,968,147.00 |
9,217,771.00 |
|
Cost of
sales |
7,269,919.00 |
8,573,323.00 |
|
Operating
costs |
7,269,919.00 |
8,573,323.00 |
|
Gross
profit (loss) from operations |
698,228.00 |
644,448.00 |
|
Unrealized
gains on intercompany transactions |
-2,223.00 |
-2,426.00 |
|
Selling
expense |
312,564.00 |
351,475.00 |
|
General
and administrative expenses |
122,429.00 |
107,077.00 |
|
Research
and development expenses |
46,845.00 |
49,210.00 |
|
Operating
expenses |
481,838.00 |
507,762.00 |
|
Operating income
(loss) |
218,613.00 |
139,112.00 |
|
Non-Operating Income |
|
|
|
Interest
income |
10,507.00 |
10,447.00 |
|
Inome from
long-term equity investments under the equity method |
528,712.00 |
0.00 |
|
Dividends |
766.00 |
3,048.00 |
|
Investment
income |
529,478.00 |
3,048.00 |
|
Gains on
disposal of fixed assets |
8,651.00 |
2,637.00 |
|
Gains on
sale of investments |
11,467.00 |
3,527.00 |
|
Foreign
exchange gains |
0.00 |
23,214.00 |
|
Rent
income |
7,728.00 |
7,298.00 |
|
Revaluation
gain on financial assets |
46,550.00 |
37,166.00 |
|
Miscellaneous
income |
51,782.00 |
26,397.00 |
|
Non-operating
revenues and gains |
666,163.00 |
113,734.00 |
|
Non-Operating Expenses |
|
|
|
Interest
expense |
6,681.00 |
14,955.00 |
|
Losses
from long-term equity investments under the equity method |
0.00 |
291,643.00 |
|
Investment
loss |
0.00 |
291,643.00 |
|
Loss on
disposal of fixed assets |
168.00 |
653.00 |
|
Foreign
exchange losses |
18,873.00 |
0.00 |
|
Impairment
loss on assets |
14,662.00 |
0.00 |
|
Revaluation
loss on financial liabilities |
811.00 |
3,888.00 |
|
Miscellaneous
disbursements |
3,822.00 |
2,711.00 |
|
Non-operating
expenses and losses |
45,017.00 |
313,850.00 |
|
Income
from continuing operations before income tax |
839,759.00 |
-61,004.00 |
|
Income tax
expense (benefit) |
42,239.00 |
31,018.00 |
|
Income
from continuing operations |
797,520.00 |
-92,022.00 |
|
Net income
(loss) |
797,520.00 (USD 26,397,912.00) |
-92,022.00 (USD -3,045,928.20) |
|
Primary Earnings per
Share |
|
|
|
Primary
earnings per share |
1.88 |
-0.22 |
|
Diluted earnings per
share |
|
|
|
Diluted
earnings per share |
1.88 |
-0.22 |
(As of 2014.6, 1 NTD = 0.0331 USD)
|
Date |
2012 |
2011 |
|
Cash Flows from Operating Activities - Indirect Method |
|
|
|
Net Income (Loss) |
797,520.00 |
-92,022.00 |
|
Adjustments to Reconcile Net Income to
Net Cash Provided by (Used in) Operating Activities |
|
|
|
Depreciation
Expense |
150,926.00 |
159,899.00 |
|
Amortization
Expense |
0.00 |
2,548.00 |
|
Provision
(Reversal of Provision) for Sales Returns, Discounts and Allowances |
-3,602.00 |
-1,330.00 |
|
Loss (Gain) on
Decline (Recovery) in Market Value, Scrap and Obsolescence of Inventories |
-7,094.00 |
4,762.00 |
|
Investment Loss
(Income) Recognized under Equity Method |
-528,712.00 |
291,643.00 |
|
Cash Dividends
Received from Investments Accounted for under Equity Method |
29,939.00 |
40,820.00 |
|
Loss (Gain) on
Disposal of Property, Plan and Equipment |
-8,483.00 |
-1,984.00 |
|
Loss (Gain) on
Disposal of Investments |
-11,467.00 |
-3,527.00 |
|
Unrealized
Revaluation Loss (Gain) on Financial Assets and Liabilities |
-44,677.00 |
-24,542.00 |
|
Impairment
Losses on Financial Asset |
14,662.00 |
0.00 |
|
Unrealized Gain
(Loss) on Intercompany Transactions |
-2,223.00 |
-2,426.00 |
|
Other
Adjustments to Reconcile Net Income |
569.00 |
-1,343.00 |
|
Changes in Operating Assets and
Liabilities |
|
|
|
Decrease
(Increase) in Financial Assets Held for Trading |
327.00 |
48,227.00 |
|
Decrease
(Increase) in Notes Receivable |
-21,729.00 |
-14,005.00 |
|
Decrease
(Increase) in Accounts Receivable |
104,239.00 |
-107,290.00 |
|
Decrease
(Increase) in Accounts Receivable - Related Parties |
55,853.00 |
12,086.00 |
|
Decrease
(Increase) in Other Receivables |
-1,828.00 |
-27.00 |
|
Decrease
(Increase) in Other Receivable- Related Parties |
43,842.00 |
-27,745.00 |
|
Decrease
(Increase) in Inventories |
-7,819.00 |
131,129.00 |
|
Decrease
(Increase) in Prepaid Expenses |
-1,821.00 |
-4,711.00 |
|
Decrease
(Increase) in Other Current Assets |
5,068.00 |
14,051.00 |
|
Decrease
(Increase) in Other Financial Assets |
-368.00 |
72.00 |
|
Decrease
(Increase) in Deferred Tax Assets |
-15,457.00 |
-27,035.00 |
|
Increase
(Decrease) in Notes Payable |
218.00 |
-91.00 |
|
Increase
(Decrease) in Accounts Payable |
-8,798.00 |
-13,079.00 |
|
Increase
(Decrease) in Accounts Payable - Related Parties |
-14,855.00 |
-28,829.00 |
|
Increase
(Decrease) in Income Tax Payable |
-6,408.00 |
35,798.00 |
|
Increase
(Decrease) in Accrued Expenses |
29,583.00 |
19,090.00 |
|
Increase
(Decrease) in Other Payables |
1,931.00 |
1,436.00 |
|
Increase
(Decrease) in Other Payable - Related Parties |
-5,146.00 |
2,260.00 |
|
Increase
(Decrease) in Other Current Liabilities |
-6,395.00 |
-15,340.00 |
|
Increase
(Decrease) in Accrued Pension Liabilities |
16,254.00 |
32,520.00 |
|
Net Cash Provided by (Used in) Operating Activities |
554,049.00 |
431,015.00 |
|
Cash Flows from Investing Activities |
|
|
|
Acquisition of Financial Assets as Fair
Value through Profit or Loss |
-5,440,000.00 |
-4,113,500.00 |
|
Proceeds from Disposal of Financial
Assets as Fair Value through Profit or Loss |
5,925,530.00 |
3,672,758.00 |
|
Proceeds from Disposal of Investments
Accounted for by Equity Method |
54.00 |
0.00 |
|
Purchase of Property, Plant and Equipment |
-99,288.00 |
-67,036.00 |
|
Proceeds from Disposal of Property, Plant
and Equipment |
11,812.00 |
3,872.00 |
|
Proceeds from Disposal of Rental Assets
and Idle Assets |
0.00 |
87.00 |
|
Decrease (Increase) in Refundable
Deposits |
-300.00 |
337.00 |
|
Increase in Deferred Charges |
-6,444.00 |
0.00 |
|
Decrease (Increase) in Other Receivables
- Related Parties |
0.00 |
79,695.00 |
|
Decrease (Increase) in Restricted Assets |
-25.00 |
143,000.00 |
|
Net Cash Provided by (Used in) Investing
Activities |
391,339.00 |
-280,787.00 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in Short-term Notes
and Bills Payable |
-299,846.00 |
299,846.00 |
|
Proceeds from Long-term Debt |
400,000.00 |
1,000,000.00 |
|
Repayment of Long-term Debt |
-700,000.00 |
-1,696,000.00 |
|
Increase (Decrease) in Guarantee Deposits
Received |
-1,537.00 |
3,022.00 |
|
Increase (Decrease) in Other Liabilities |
27.00 |
50.00 |
|
Cash Dividends Paid |
-8.00 |
-51.00 |
|
Net Cash Provided by (Used in) Financing
Activities |
-601,364.00 |
-393,133.00 |
|
Net Increase (Decrease) in Cash and Cash Equivalents |
344,024.00 |
-242,905.00 |
|
Cash and Cash Equivalents, Beginning of year |
136,175.00 |
379,080.00 |
|
Cash and Cash Equivalents, End of year |
480,199.00 |
136,175.00 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid- Excluding Capitalized
Interest |
5,038.00 |
13,910.00 |
|
Income Tax Paid |
64,104.00 |
22,255.00 |
|
Investing Activities Affecting Both Cash and Non-cash Items |
|
|
|
Cash Paid for Acquisition of Property,
Plant and Equipment |
|
|
|
Increase in
Property, Plant and Equipment |
101,953.00 |
84,178.00 |
|
Increase
(Decrease) in Payable for Equipment Purchased |
-2,665.00 |
-17,142.00 |
|
Cash Paid for
Acquisition of Property, Plant and Equipment |
99,288.00 |
67,036.00 |
Subject declined to disclose its bank details; from other source we
cannot obtain the relevant information, either.
Mortgage
|
1 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
024111 |
|
Debtor Name: |
China General Plastics Corp. |
|
Document Number: |
287904 |
|
Date of Registration: |
1985/9/27 |
|
Date of Alteration: |
1985/9/27 |
|
Status: |
Paid Off |
|
2 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
027837 |
|
Debtor Name: |
China General Plastics Corp. |
|
Document Number: |
202727 |
|
Date of Registration: |
1987/6/18 |
|
Date of Alteration: |
1987/6/18 |
|
Status: |
Paid Off |
|
3 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
036001 |
|
Debtor Name: |
China General Plastics Corp. |
|
Document Number: |
199833 |
|
Date of Registration: |
1990/7/30 |
|
Date of Alteration: |
1990/7/30 |
|
Status: |
Paid Off |
|
4 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
070029 |
|
Debtor Name: |
China General Plastics Corp. |
|
Document Number: |
09005083670 |
|
Date of Registration: |
2001/4/18 |
|
Status: |
Paid Off |
|
1 |
|
|
Trial Number: |
2011, Su, 1313 |
|
Date of Trial: |
2011-11-18 |
|
Reason: |
Partition for common property |
|
2 |
|
|
Trial Number: |
2010, Xiaoshang, 161 |
|
Date of Trial: |
2010-12-16 |
|
Reason: |
Payment for damages |
|
3 |
|
|
Trial Number: |
2009, Su, 1572 |
|
Date of Trial: |
2010-1-26 |
|
Reason: |
Payment for damages |
|
4 |
|
|
Trial
Number: |
2010,Beixiao ,811 |
|
Trial
Date: |
2010-10-27 |
|
Reason: |
Compensation for damage |
|
5 |
|
|
Trial
Number: |
2002,Beilaosu,2 |
|
Trial
Date: |
2003-5-15 |
|
Reason: |
Conformation of employment relationship |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.10 |
|
|
1 |
Rs.102.40 |
|
Euro |
1 |
Rs.81.88 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NNA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation
is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major sections
of this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.