|
Report Date : |
07.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
CHANG HWA COMMERCIAL BANK, LTD. |
|
|
|
|
Registered Office : |
No.38, Sec. 2, Ziyou Rd., Central Dist., Taichung City 40045 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
01.07.1950 |
|
|
|
|
Com. Reg. No.: |
51811609 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Subject is engaged in providing commercial
bank services |
|
|
|
|
No. of Employees : |
6,375 (as of 31.03.2013) |
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 |
|
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: |
No.57, Sec. 2,
Zhongshan N. Rd., Zhongshan Dist., Taipei City 10412, Taiwan |
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-2536-2951 |
|
Fax Number: |
Notes: The exact name and address are as above
and the supplied address belongs to subject’s Qixian Branch.
|
Registered Name: |
CHANG HWA COMMERCIAL BANK, LTD. |
|
Registered Address: |
No.38, Sec. 2, Ziyou Rd., Central Dist.,
Taichung City 40045, Taiwan (R.O.C.) |
|
Date of Foundation: |
1950-7-1 |
|
Registration Number: |
51811609 |
|
Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C. |
|
Registered Capital: |
NTD 80,000,000,000
(USD 2,720,000,000) (As of 2014.05, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 77,490,591,890 (USD 2,634,680,124) |
|
Legal Representatives: |
Huaizhou Chen |
|
Legal Form: |
|
|
SWIFT Code: |
CCBCTWTP |
|
Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject was incorporated
on 1950-7-1 with registered number 51811609
as Joint Stock Company in
Taiwan.
Subject listed on Taiwan Stock Exchange on 1962-2-15.
|
Name |
Subscription Shares |
|
Taishin Financial Holding Co., Ltd. |
1,747,117,400 |
|
Ministry of Finance |
|
|
944,841,663 |
|
|
National Development Fund |
213,067,359 |
|
Excel Chemical Corporation |
15,714,118 |
|
Fan Deng Investment Co., Ltd. (Literal Translation) |
76,124 |
The information above is that of subject’s major shareholders.
Shareholder Information:
|
1 |
|
|
Registered Name: |
Taishin Financial Holding Co., Ltd. |
|
Registered Address: |
No.118, Sec 4, Ren-ai Road, Da-an District,
Taipei City, Taiwan |
|
Date of Foundation: |
2002-2-18 |
|
Registration Number: |
80328055 |
|
Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C. |
|
Registered Capital: |
NTD 120,000,000,000
(USD 4,080,000,000) (As of 2014.05, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 87,607,682,110
(USD 2,978,661,192) |
|
Legal Representatives: |
Dongliang Wu |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2014-5-1 |
|
2 |
|
|
Registered Name: |
Excel Chemical Corporation |
|
Registered Address: |
Rm. A, C, 9Fl., No.25, Sec.4, Jen Ai Rd.,
Taipei Taiwan R.O.C. |
|
Date of Foundation: |
1989-11-15 |
|
Registration Number: |
23531178 |
|
Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C. |
|
Registered Capital: |
NTD 2,000,000,000 (USD 68,000,000) (As of 2014.05, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 1,794,864,500 (USD 61,025,393) |
|
Legal Representatives: |
Chengqing Wu |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2011-9-19 |
|
3 |
|
|
Registered Name: |
Fan Deng Investment Co., Ltd. (Literal Translation) |
|
Registered Address: |
11th Floor, No.88, Sec 2, Xinyi
Road, Da-an District, Taipei City, Taiwan |
|
Date of Foundation: |
2002-4-22 |
|
Registration Number: |
13107693 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 96,000,000 (USD 3,264,000) (As of 2014.05, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 96,000,000 (USD 3,264,000) |
|
Legal Representatives: |
Ruiyun Ou |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2013-12-4 |
Major Branch
Companies
|
1 |
|
|
Name |
Xike Branch |
|
Address |
No.215 & No.217, Sec 1, Datong Road, Xizhi District, New Taipei
City, Taiwan |
|
Registration Number |
53668951 |
|
Date of Registration |
2013-4-16 |
|
Status |
Live |
|
Manager Name |
Shunfeng Luo |
|
Date of Last Annual Return |
-- |
|
2 |
|
|
Name |
Guiren Branch |
|
Address |
No.218, Sec 2, Zhongshan Road, Guiren District, Tainan City, Taiwan |
|
Registration Number |
53025682 |
|
Date of Registration |
2012-2-13 |
|
Status |
Live |
|
Manager Name |
Hanhe Xiao |
|
Date of Last Annual Return |
2012-2-13 |
|
3 |
|
|
Name |
Wufen Bu Branch |
|
Address |
1st Floor, No.92, Zhongpo North Road, Nangang District,
Taipei City, Taiwan |
|
Registration Number |
53025487 |
|
Date of Registration |
2012-2-7 |
|
Status |
Live |
|
Manager Name |
Fanxiong Ran |
|
Date of Last Annual Return |
-- |
|
4 |
|
|
Name |
Zuoying Branch |
|
Address |
No.280, Bo-ai 4th Road, Zuoying District, Kaohsiung City,
Taiwan |
|
Registration Number |
53006496 |
|
Date of Registration |
2011-2-10 |
|
Status |
Live |
|
Manager Name |
Ruisen Yang |
|
Date of Last Annual Return |
2013-8-28 |
|
5 |
|
|
Name |
Guanglong Branch |
|
Address |
No.577, 579, Guangfu South Road, Xinyi District, Taipei City, Taiwan |
|
Registration Number |
29000280 |
|
Date of Registration |
2010-9-1 |
|
Status |
Live |
|
Manager Name |
Guifen Chen |
|
Date of Last Annual Return |
2013-7-26 |
|
6 |
|
|
Name |
Longtan Branch |
|
Address |
No.240-3, Zhongzheng Road, Longtan Township, Taoyuan County, Taiwan |
|
Registration Number |
28999243 |
|
Date of Registration |
2010-8-10 |
|
Status |
Live |
|
Manager Name |
Shengmou Peng |
|
Date of Last Annual Return |
2013-2-20 |
|
7 |
|
|
Name |
Xinshu Branch |
|
Address |
No.266-1, Xinshu Road, Xinzhaung District, New Taipei City, Taiwan |
|
Registration Number |
28975946 |
|
Date of Registration |
2009-3-10 |
|
Status |
Live |
|
Manager Name |
Xiuxia Cai |
|
Date of Last Annual Return |
2014-3-4 |
|
8 |
|
|
Name |
Dong Keelung Branch |
|
Address |
No.57, Xinyi Road, Keelung City, Taiwan |
|
Registration Number |
00404050 |
|
Date of Registration |
2009-3-10 |
|
Status |
Live |
|
Manager Name |
Yaozong Wang |
|
Date of Last Annual Return |
2013-2-20 |
|
9 |
|
|
Name |
Wugu Industrial Area Branch |
|
Address |
No.3-1, Wugong 5th Road, Xinzhuang District, New Taipei
City, Taiwan |
|
Registration Number |
28413565 |
|
Date of Registration |
2007-4-17 |
|
Status |
Live |
|
Manager Name |
Qingfu Lin |
|
Date of Last Annual Return |
2014-4-2 |
|
10 |
|
|
Name |
Xinhu Branch |
|
Address |
No.180, Xinhu 2nd Road, Neihu District, Taipei City, Taiwan |
|
Registration Number |
28414311 |
|
Date of Registration |
2007-5-8 |
|
Status |
Live |
|
Manager Name |
Baohua Xu |
|
Date of Last Annual Return |
2012-11-14 |
|
11 |
|
|
Name |
Qixian Branch |
|
Address |
3F., No.456, Zhongxiao 1st Rd., Xinxing Dist., Kaohsiung
City, Taiwan |
|
Tel: |
+886-7-235-5658 |
|
Fax: |
+886-7-235-5785 |
Note: Subject has 183 branches in Taiwan domestic market (as of 2013-3-31),
we supplied some of its major branches as above for reference.
It is introduced that subject also has banking business outlets in New York, Tokyo, Landon, Hong Kong, Singapore
and Kunshan City (China
Core Management
Directors
|
1 |
|
|
Name |
Huaizhou Chen |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Mingdao Zhang |
|
Position |
Director/ Manager |
|
Date of Appointment |
2013-9-30 |
|
3 |
|
|
Name |
Huaixin Liang |
|
Position |
Director |
|
4 |
|
|
Name |
Chengqing Wu |
|
Position |
Executive Director |
|
5 |
|
|
Name |
Jiazhong Zheng |
|
Position |
Director |
|
6 |
|
|
Name |
Dengshan Chen |
|
Position |
Director |
|
7 |
|
|
Name |
Shangcheng Chen |
|
Position |
Independent Director |
|
8 |
|
|
Name |
Zhengxian Lin |
|
Position |
Director |
|
9 |
|
|
Name |
Guoyuan Liang |
|
Position |
Executive Director (Independent Director) |
|
10 |
|
|
Name |
Qinghua Ruan |
|
Position |
Supervisor |
|
11 |
|
|
Name |
Wenyou Wang |
|
Position |
Supervisor |
|
12 |
|
|
Name |
Zhishang Gao |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
6,375 Employees (as of 2013-3-31) |
Offices &
Factories
|
|
Headquarters |
|
Add |
No.57, Sec. 2, Zhongshan N. Rd., Zhongshan Dist., Taipei City 10412,
Taiwan |
Operation
Information
·
Subject is engaged in
providing commercial bank services
·
The major banking
services provided by subject include deposits, loans, wealth management,
securities, credit cards, net banking, syndicated loans, corporate financing,
bills, hire-purchase and leasing, foreign exchange, insurance agency, and
mandatory provident fund
·
It is introduced that
subject can also provide the services of futures broking, insurance broking,
general insurance underwriting, property management, trustee and nominee
services through its subsidiaries.
·
Subject’s foreign banking business outlets covers New York, Tokyo, Landon, Hong Kong,
Singapore and Kunshan City (China)
·
Subject is the 10th
largest commercial bank by total assets in Taiwan and currently among the top
300 banks in the world.
·
The registered activities of subject:
|
Business Code |
Details |
|
H101021 |
Commercial bank |
Units: NTD/000
|
|
2012-12-31 |
2011-12-31 |
|
Cash and cash equivalents |
40,180,352.00 |
52,948,865.00 |
|
Due from the Central Bank and call loans to banks |
103,411,156.00 |
79,667,740.00 |
|
Financial assets measured at fair value through profit or loss - net |
35,613,670.00 |
25,020,162.00 |
|
Receivables - net |
18,020,960.00 |
19,604,067.00 |
|
Discounts and loans-net |
1,129,128,128.00 |
1,122,738,843.00 |
|
Available-for-sale financial assets - net |
63,427,594.00 |
57,579,949.00 |
|
Held-to-maturity financial assets - net |
170,696,300.00 |
180,376,569.00 |
|
Stock investments measured by equity method - net |
465,745.00 |
390,890.00 |
|
Other financial assets - net |
8,048,820.00 |
12,943,157.00 |
|
Fix assets - net |
23,930,249.00 |
23,506,806.00 |
|
Intangible assets |
86,991.00 |
62,074.00 |
|
Other assets |
17,091,116.00 |
14,668,680.00 |
|
Assets |
1,610,101,081.00 |
1,589,507,802.00 |
|
Deposits from the Central Bank and banks |
100,530,198.00 |
112,053,512.00 |
|
Financial liabilities measured at fair value through profit or loss |
1,912,629.00 |
2,035,814.00 |
|
Notes and bonds issued under repurchase agreement |
5,629,554.00 |
10,726,892.00 |
|
Payables |
32,863,279.00 |
31,956,087.00 |
|
Deposits and remittances |
1,316,727,161.00 |
1,288,795,742.00 |
|
Bank notes payable |
38,451,937.00 |
38,496,086.00 |
|
Accrued pension liability |
767,223.00 |
452,697.00 |
|
Other financial liabilities |
1,364,673.00 |
1,676,663.00 |
|
Other liabilities |
8,045,522.00 |
7,636,353.00 |
|
Liabilities |
1,506,292,176.00 |
1,493,829,846.00 |
|
Capital |
72,421,114.00 |
67,683,284.00 |
|
Common stock |
72,421,114.00 |
67,683,284.00 |
|
Retained earnings |
20,888,598.00 |
18,509,344.00 |
|
Legal reserve |
11,836,090.00 |
9,123,384.00 |
|
Special reserve |
241,692.00 |
241,692.00 |
|
Unappropriated earnings |
8,810,816.00 |
9,144,268.00 |
|
Other equity |
10,499,193.00 |
9,485,328.00 |
|
Revaluation increment |
11,011,800.00 |
10,339,717.00 |
|
Cumulative translation adjustments |
-60,115.00 |
45,884.00 |
|
Net loss not recognized as pension cost |
-439,555.00 |
-133,402.00 |
|
Unrealized gains (losses) on financial instruments |
-12,937.00 |
-766,871.00 |
|
Stockholders' equity |
103,808,905.00 (USD 3,529,502,770.00) |
95,677,956.00 (USD
3,253,050,504.00) |
(As of 2014.05, 1 NTD = 0.0340 USD)
Units: NTD/000
|
|
2012 |
2011 |
|
Interest incomes |
26,871,532.00 (USD
913,632,088.00) |
26,700,664.00 (USD
907,822,576.00) |
|
Interest expenses |
11,001,807.00 |
10,061,739.00 |
|
Net income (loss) of interest |
15,869,725.00 |
16,638,925.00 |
|
Other non-interest net income (loss) |
9,111,933.00 |
9,965,448.00 |
|
Net service fee (charge) income (losses) |
3,375,397.00 |
3,427,753.00 |
|
Gain (loss) on financial assets or liabilities measured at fair value
through profit and loss |
1,343,291.00 |
1,210,479.00 |
|
Realized gain (loss) on available-for-sale financial assets |
300,733.00 |
-99,194.00 |
|
Income (losses) from equity investments under the equity method |
321,996.00 |
274,601.00 |
|
Foreign exchange gains (losses), net |
95,365.00 |
483,252.00 |
|
Impairment loss on assets (reversal of impairment loss on assets) |
-21,736.00 |
0.00 |
|
Other non-interest net income (loss) |
3,696,887.00 |
4,668,557.00 |
|
Net income (loss) |
24,981,658.00 |
26,604,373.00 |
|
Bad debt expenses - loan |
1,645,871.00 |
3,225,183.00 |
|
Operating expenses |
13,126,982.00 |
12,810,050.00 |
|
Personnel expenses |
8,876,000.00 |
8,516,913.00 |
|
Depreciation and Amortization Expense |
738,446.00 |
799,420.00 |
|
Other general and administrative expenses |
3,512,536.00 |
3,493,717.00 |
|
Income (loss) from continuing operations before income tax |
10,208,805.00 |
10,569,140.00 |
|
Income tax expense (benefit) |
-1,738,055.00 |
-1,526,785.00 |
|
Net income (loss) from continuing operations |
8,470,750.00 |
9,042,355.00 |
|
Net income (loss) |
8,470,750.00 (USD
288,005,500.00) |
9,042,355.00 (USD
307,440,070.00) |
|
Earnings per share |
|
|
|
Earnings per share |
1.17 |
1.25 |
|
Income (loss) from continuing operations, net of income tax |
1.17 |
1.25 |
|
Earnings per share |
1.16 |
1.24 |
|
Income (loss) from continuing operations, net of income tax |
1.16 |
1.24 |
(As of 2014.05, 1 NTD = 0.0340 USD)
Units: NTD/000
|
|
2012 |
2011 |
|
Cash Flows from Operating Activities |
|
|
|
Net Income (Loss) |
8,470,750.00 |
9,042,355.00 |
|
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in)
Operating Activities |
|
|
|
Depreciation Expenses |
712,998.00 |
778,410.00 |
|
Amortization Expenses |
25,448.00 |
21,010.00 |
|
Provision (Reversal of Provision) for Bad Debt Expense |
1,645,871.00 |
3,225,183.00 |
|
Amortization of Premiums (Discounts) on Financial Assets |
-921,003.00 |
-773,993.00 |
|
Investment Loss (Income) Recognized under Equity Method |
-321,996.00 |
-274,601.00 |
|
Cash Dividends Received from Investments Accounted for under Equity
Method |
247,141.00 |
111,327.00 |
|
Loss (Gain) on Disposal of Property, Plant and Equipment |
120.00 |
-11,575.00 |
|
Loss (Gain) on Disposal of Investments |
-218,684.00 |
255,040.00 |
|
Unrealized Revaluation Loss (Gain) on Financial Assets and Liabilities |
-58,506.00 |
-103,666.00 |
|
Impairment Loss on Financial Asset |
21,736.00 |
0.00 |
|
Loss (Gain) on Disposal of Foreclosed Properties |
0.00 |
-27,474.00 |
|
Loss (Gain) on Deferred Income Tax |
1,276,297.00 |
1,633,606.00 |
|
Changes in Operating Assets and Liabilities |
|
|
|
Decrease (Increase) in Financial Assets Held for Trading |
-7,971,434.00 |
-5,269,668.00 |
|
Decrease (Increase) in Receivables |
1,560,228.00 |
3,775,781.00 |
|
Decrease (Increase) in Other Financial Assets |
-73,862.00 |
-184,370.00 |
|
Decrease (Increase) in Other Assets |
-3,491,538.00 |
-73,461.00 |
|
Increase (Decrease) in Financial Liabilities Held for Trading |
-2,686,589.00 |
-2,795,109.00 |
|
Increase (Decrease) in Payables |
907,192.00 |
6,411,999.00 |
|
Increase (Decrease) in Accrued Pension Liability |
8,373.00 |
30,880.00 |
|
Increase (Decrease) in Other Financial Liabilities |
-311,990.00 |
505,817.00 |
|
Increase (Decrease) in Other Liabilities |
43,207.00 |
-45,561.00 |
|
Net Cash Provided by (Used in) Operating Activities |
-1,136,241.00 |
16,231,930.00 |
|
Cash Flows from Investing Activities |
|
|
|
Acquisition of Available-for-sale Financial Assets |
-110,074,916.00 |
-64,424,536.00 |
|
Proceeds from Disposal of Available-for-sale Financial Assets |
106,120,904.00 |
50,854,980.00 |
|
Acquisition of Debt Investments without Active Market |
-665,780.00 |
-82,324.00 |
|
Proceeds from Disposal of Debt Investments without Active Market |
193,139.00 |
0.00 |
|
Repayments of Debts Investment without Active Market |
5,340,342.00 |
3,299,013.00 |
|
Acquisition of Held-to-maturity Financial Assets |
-1,240,388,044.00 |
-961,027,399.00 |
|
Repayments of Held-to-Maturity Financial Assets |
1,250,068,313.00 |
974,075,493.00 |
|
Purchase of Property, Plant and Equipment |
-384,726.00 |
-521,442.00 |
|
Proceeds from Disposal of Property, Plant and Equipment |
87.00 |
46,773.00 |
|
Purchase of Intangible Assets |
-43,729.00 |
-25,620.00 |
|
Proceed from Disposal of Foreclosed Collateral |
0.00 |
27,474.00 |
|
Decrease (Increase) in Due from the Central Bank and Call Loans to
Banks |
-23,743,416.00 |
8,846,166.00 |
|
Decrease (Increase) in Loans Discounted |
-7,907,921.00 |
-79,163,644.00 |
|
Net Cash Provided by (Used in) Investing Activities |
-21,485,747.00 |
-68,095,066.00 |
|
Cash Flows from Financing Activities |
|
|
|
Proceeds of the Issuance Of Bank Debentures |
0.00 |
10,000,000.00 |
|
Increase (Decrease) in Notes and Bonds Issued Under Repurchase
Agreement |
-5,097,338.00 |
-2,909,822.00 |
|
Cash Dividends Paid |
-1,353,666.00 |
-1,738,653.00 |
|
Increase (Decrease) in Deposits Central and Bank Banks |
-11,523,314.00 |
16,944,531.00 |
|
Increase (Decrease) in Deposits and Exchange |
27,931,419.00 |
48,616,754.00 |
|
Net Cash Provided by (Used in) Financing Activities |
9,957,101.00 |
70,912,810.00 |
|
Effect of Exchange Rate Changes |
-103,626.00 |
-8,291.00 |
|
Net Increase (Decrease) in Cash and Cash Equivalents |
-12,768,513.00 |
19,041,383.00 |
|
Cash and Cash Equivalents, Beginning of year |
52,948,865.00 |
33,907,482.00 |
|
Cash and Cash Equivalents, End of year |
40,180,352.00 |
52,948,865.00 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid |
10,929,509.00 |
9,668,305.00 |
|
Interest Paid- Excluding Capitalized Interest |
10,929,509.00 |
9,668,305.00 |
|
Income Tax Paid |
322,134.00 |
139,617.00 |
|
Non-cash Investing and Financing Activities |
|
|
|
Capital Increase by Earnings Recapitalization |
4,737,830.00 |
5,588,528.00 |
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.
|
Name |
Mr. Wang |
|
Department |
Foreign Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.20 |
|
|
1 |
Rs.101.68 |
|
Euro |
1 |
Rs.83.55 |
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.