MIRA
INFORM REPORT
|
Report Date : |
15.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
PAN ASIA CHEMICAL CORPORATION |
|
|
|
|
Registered Office : |
11F, No.50, Sec.1, Hsin Sheng South Road,
Taipei, Taiwan, R.O.C. |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
06.04.1982 |
|
|
|
|
Com. Reg. No.: |
05712099 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture and
trade of non-ionic surfactants. |
|
|
|
|
No. of Employees |
100 |
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 |
Contact Points
|
Company Name: |
Pan Asia Chemical Corporation |
|
Supplied Name: |
PAN ASIA CHEMICAL CORPORATION |
|
Trading Address: |
11F, No.50, Sec.1, Hsin Sheng South Road, Taipei, Taiwan, R.O.C. |
|
Supplied Address: |
World Trade Building (11th Floor) No 50, Sec 1, HSIN Sheng South Rd,
Taipei |
|
Telephone Number: |
+886-2-2351-1212 |
|
Fax Number: |
+886-2-2396-2946 |
|
E-mail: |
Notes: Subject’s exact address is as above.
Company Identification Details
|
Registered Name: |
Pan Asia Chemical Corporation |
|
Registered Address: |
11F, No.50, Sec.1, Hsin Sheng South Road, Taipei, Taiwan, R.O.C. |
|
Date of Foundation: |
1982-04-06 |
|
Registration Number: |
05712099 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 2,500,000,000 (USD 83,250,000) (As of 2014.04, 1 NTD = 0.0333 USD) |
|
Paid-up Capital: |
NTD 2,222,464,920 (USD 74,008,082) |
|
Legal Representatives: |
Guifeng Wang |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock
Exchange: |
|
|
Date of Last
Annual Return: |
History
Subject was incorporated on 1982-04-06
with registered number 05712099 as Joint Stock Company in Taiwan.
Subject listed on Taiwan Over-The-Counter Securities
Exchange on
Shareholders
|
Name |
Subscription Shares |
|
Sheng Ren Knitting Factory Co., Ltd. (Literal
Translation) |
13,313,350 |
| China Fiber Investment Co., Ltd. (Literal
Translation) |
11,000,571 |
|
Gannan Chen |
51,300 |
|
Ke Yi Bao Investment Co., Ltd. (Literal
Translation) |
128,000 |
|
Dayin Ye |
128,253 |
The information
above is that of subject’s major shareholders.
Shareholder
Information:
|
1 |
|
|
Registered Name: |
Sheng Ren
Knitting Factory Co., Ltd. (Literal Translation) |
|
Registered Address: |
4F-4, No.50, Sec.1, Hsin Sheng South Road, Zhongzheng District, Taipei,
Taiwan, R.O.C. |
|
Date of Foundation: |
1975-05-10 |
|
Registration Number: |
33762964 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 198,000,000 (USD 6,593,400) (As of 2014.04, 1 NTD = 0.0333 USD) |
|
Paid-up Capital: |
NTD 198,000,000 (USD 6,593,400) |
|
Legal Representatives: |
Xiaojie Lin |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-01-20 |
|
2 |
|
|
Registered Name: |
China Fiber
Investment Co., Ltd. (Literal Translation) |
|
Registered Address: |
11F, No.50, Sec. 1, Xinsheng S. Rd., Zhongzheng
Dist., Taipei City, Taiwan |
|
Date of Foundation: |
1996-06-25 |
|
Registration Number: |
97160586 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 679,225,000 (USD 22,618,193) (As of 2014.04, 1 NTD = 0.0333 USD) |
|
Paid-up Capital: |
NTD 679,225,000 (USD 22,618,193) |
|
Legal Representatives: |
Guixian Wang |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2011-11-25 |
|
3 |
|
|
Registered Name: |
Ke Yi Bao Investment Co., Ltd. (Literal Translation) |
|
Registered Address: |
1/F, No. 2, Lane 434, Nanjing West Road, Datong District, Taipei City,
Taiwan, R.O.C. |
|
Date of Foundation: |
2002-11-07 |
|
Registration Number: |
80293909 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 4,000,000 (USD 133,200) (As of 2014.04, 1 NTD = 0.0333 USD) |
|
Paid-up Capital: |
NTD 4,000,000 (USD 133,200) |
|
Legal Representatives: |
Zhiping Wang |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2011-05-24 |
Subsidiaries & Branches
Factory
|
Name: |
Pan Asia
Chemical Corporation Kaohsiung Factory |
|
Address: |
No.8-1, Jingjian
Rd., Dashe Shiang, Kaohsiung County 815, Taiwan (R.O.C.) |
|
Date of Foundation: |
1984-12-12 |
|
Date of Registration: |
1990-12-31 |
|
Factory Registration Number: |
99661720 |
|
Factory Manager: |
Benyi Lin |
|
Status: |
In Production |
|
Telephone Number: |
+886-7-351-1318 |
|
Date of Last Annual Return: |
2001-10-17 |
|
Major Products: |
103 Cleaning
products, etc. |
Related Companies
|
1 |
|
|
Name: |
China Man-made
Fiber Corporation |
|
Address: |
10-11F, No 50,
Sec. 1, Xinsheng S. Rd., Taipei City 100, Taiwan (R.O.C.) |
|
Telephone
Number: |
+886-2-2393-7111 |
|
2 |
|
|
Name: |
Formosa Imperial
Wineseller Corp. |
|
Address: |
11F, No.50, Sec.1, Hsin Sheng South Road, Taipei, Taiwan, R.O.C. |
|
Telephone
Number: |
+886-2-2393-1233 |
Personnel Information
Core
Management
Directors
|
1 |
|
|
Name |
Guifeng Wang |
|
Position |
Chairman |
|
2 |
|
|
Name |
Yongda Liu |
|
Position |
Vice Chairman |
|
3 |
|
|
Name |
Qingfeng Chen |
|
Position |
Director and
Manager |
|
Date of
Appointment |
|
|
4 |
|
|
Name |
Changchen Lin |
|
Position |
Director |
|
5 |
|
|
Name |
Gannan Chen |
|
Position |
Director |
|
6 |
|
|
Name |
Shiyi Jiang |
|
Position |
Supervisor |
|
7 |
|
|
Name |
Dayin Ye |
|
Position |
Supervisor |
|
8 |
|
|
Name |
Changhai Wang |
|
Position |
Manager |
|
Date of
Appointment |
|
|
9 |
|
|
Name |
Guoqing Chen |
|
Position |
Manager |
|
Date of
Appointment |
|
Personnel
Structure
|
Total
Employees |
About 100 Employees |
Operation Information
Offices
& Factories
|
|
Headquarters |
|
Add |
11F, No.50, Sec.1, Hsin Sheng South Road, Taipei,
Taiwan, R.O.C. |
Production
Information
l
Subject is engaged in manufacturing of non-ionic
surfactants, etc.
l
Subject has a factory in Kaohsiung County, Taiwan for
production.
l
Subject obtained the certification of
ISO-9002 and ISO9001:2000.
Purchase
Information
l
The registered activities of subject:
|
Business
Code |
Details |
|
C801020 |
Manufacture of petrochemical
materials |
|
C802090 |
Manufacture
of Cleaning supplies |
|
D101050 |
Cogeneration Industry |
|
F212011 |
Gas station business |
|
F212061 |
Refueling station business |
|
H701010 |
Development and rental of
housing and building |
|
ZZ99999 |
Besides licensed
business, all other business items those are not banned or restricted. |
l It is introduced that subject purchases raw
materials such as ethylene oxide and nonyl phenol from their cooperative
company China Man-made Fiber Corporation.
l Other raw materials are mainly imported from foreign
countries.
l Subject
is engaged in sale of non-ionic surfactants, etc.
l
The major products sold by subject are as follows
for reference:
|
1 |
Polyethylene Glycol |
|
2 |
Polyoxyethylene Alkyl Phenly Ether |
|
3 |
Polyoxyethylene Alkyl Amine Ether |
|
4 |
Polyoxyethylene Alkyl Ether |
|
5 |
Polyoxyethylene Fatty Acid Ether |
|
6 |
Polyoxyethylene Sorbitan Fatty Acid Ether |
|
7 |
Polyoxypropylene Polyoxyethylene Ether |
|
8 |
Special Nonionic Surfactants |
|
9 |
Ester for Cosmetic Catalogue |
|
10 |
Ester for Lubricant Catalogue |
|
11 |
Polyethylene Gloycol Ester Catalogue |
|
12 |
Ester for Detergent |
|
13 |
Spinning oil for polyester yarn |
|
14 |
Ester for PU products |
|
15 |
Sorbitan Fatty Acid Ester |
l
Usage of subject’s major products are as follows:
|
Industry |
Application |
|
Household cleanser |
Detergent, penetrant, emulsifier, wetter,
softener |
|
Personal bathroom accessories |
Detergent, penetrant, emulsifier, wetter,
softener |
|
Cellulose industry |
Detergent, penetrant, dyeing auxiliary,
emulsifier, softener |
|
Metal industry |
Detergent, emulsifier, plating solution additives |
|
Pulp industry |
Degreasant, Deinking agent, wetter |
|
Plastics industry |
Polymerizable emulsifier |
|
Rubber industry |
Additive and mold release |
|
Paint industry |
Dispersant and emulator |
|
Cosmetics industry |
Detergent, emulsion and basic material |
|
Electronic industry |
Detergent |
|
High polymer industry |
Modifier, emulsifier and antistat |
l
Subject’s sales regions include Taiwan, Mainland
China, Southeast Asia, Australia, etc.
|
Sales region |
Proportion |
|
Domestic sales |
60% |
|
Export sales |
40% |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Trademark
|
Name of the Mark: |
Pan Asia and Picture PACC |
|
Registered No.: |
00059555 |
|
Date of Registration: |
1992-3-26 |
|
Expiry Date: |
2022-10-31 |
|
Mark: |
|
|
Color: |
Black |
|
Owner's Name, Address: |
Pan Asia Chemical Corporation 11F, No.50, Sec.1, Hsin Sheng South Road, Taipei, Taiwan, R.O.C. |
|
Class No.: |
Settlements
Domestic Purchase (Taiwan and Mainland,
China)
|
Terms |
Proportion |
|
|
Raw
materials, etc. |
Interior
settlement, T/T, Cash, etc |
100% |
Foreign
Purchase
|
Terms |
Proportion |
|
|
Raw
materials, etc. |
L/C,
T/T, etc |
100% |
Sales
Domestic
Markets (Taiwan and Mainland, China)
|
Terms |
Proportion |
|
|
Non-ionic
surfactants, etc. |
T/T, Cash, etc |
100% |
Export
|
Terms |
Proportion |
|
|
Non-ionic
surfactants, etc. |
L/C, T/T, etc |
100% |
Balance sheet
Unit: NTD/000
|
|
2012-12-31 |
2011-12-31 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
191,052.00 |
122,016.00 |
|
Notes receivable - net |
26,732.00 |
31,701.00 |
|
Accounts receivable - net |
158,249.00 |
178,110.00 |
|
Notes receivable - related parties - net |
762.00 |
18.00 |
|
Other notes receivable |
7,305.00 |
7,655.00 |
|
Inventories |
274,795.00 |
259,965.00 |
|
Advance payment |
31,946.00 |
40,049.00 |
|
Other current assets |
17,580.00 |
17,442.00 |
|
Current assets |
708,421.00 |
656,956.00 |
|
Funds and Investments |
|
|
|
Available-for-sale financial assets - non current |
417,578.00 |
331,845.00 |
|
Financial assets carried at cost - non current |
2,003,194.00 |
2,040,458.00 |
|
Equity investments under equity method |
1,810,088.00 |
1,629,622.00 |
|
Investments |
1,810,088.00 |
1,629,622.00 |
|
Funds and long-term investments |
4,230,860.00 |
4,001,925.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
72,273.00 |
79,177.00 |
|
Buildings and structures |
266,731.00 |
305,576.00 |
|
Machinery and equipment |
1,250,773.00 |
1,222,185.00 |
|
Transportation equipment |
17,454.00 |
16,896.00 |
|
Leased assets |
10,656.00 |
10,441.00 |
|
Other facilities |
184,635.00 |
205,869.00 |
|
Appraisal increment |
173,972.00 |
190,954.00 |
|
Cost and revaluation in total |
1,976,494.00 |
2,031,098.00 |
|
Accumulated depreciation |
-323,363.00 |
-264,312.00 |
|
Construction in process and prepayment for
equipments |
43,336.00 |
46,284.00 |
|
Fixed assets |
1,696,467.00 |
1,813,070.00 |
|
Intangible Assets |
|
|
|
Other Assets |
|
|
|
Guarantee deposits paid |
17.00 |
17.00 |
|
Deferred charges |
461.00 |
609.00 |
|
Other assets - other |
25,283.00 |
40,581.00 |
|
Other assets |
25,761.00 |
41,207.00 |
|
Assets |
6,661,509.00 |
6,513,158.00 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowings |
1,430,000.00 |
1,280,000.00 |
|
Accounts payable |
39,929.00 |
57,723.00 |
|
Accounts payable - related parties - net |
148,428.00 |
203,991.00 |
|
Accrued expenses |
37,568.00 |
43,168.00 |
|
Other payables |
5,737.00 |
4,204.00 |
|
Long-term liabilities within one year or
operating term |
180,000.00 |
60,000.00 |
|
Other current liabilities |
5,057.00 |
8,607.00 |
|
Current liabilities |
1,846,719.00 |
1,657,693.00 |
|
Long term Liabilities |
|
|
|
Long-term borrowings |
960,000.00 |
1,140,000.00 |
|
Long term Liabilities |
960,000.00 |
1,140,000.00 |
|
Various reserves |
|
|
|
Land value-added tax preparation |
40,896.00 |
44,888.00 |
|
Reserves |
40,896.00 |
44,888.00 |
|
Other Liabilities |
|
|
|
Pension reserve / accrued pension liability |
28,091.00 |
27,462.00 |
|
Guarantee deposits received |
2,000.00 |
2,000.00 |
|
Deferred income tax liabilities |
30,091.00 |
29,462.00 |
|
Other liabilities |
2,877,706.00 |
2,872,043.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
2,222,465.00 |
2,238,215.00 |
|
Capital Surplus |
|
|
|
Capital surplus - additional paid-in capital |
863,623.00 |
869,743.00 |
|
Capital surplus–Storage stock trading |
28,848.00 |
21,339.00 |
|
Capital surplus–long-term investment |
13,739.00 |
13,739.00 |
|
Capital surplus |
906,210.00 |
904,821.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
87,087.00 |
78,296.00 |
|
Special reserve |
5,312.00 |
144,344.00 |
|
Inappropriate retained earnings |
405,294.00 |
201,200.00 |
|
Retained earnings |
497,693.00 |
423,840.00 |
|
Stockholders' Equity and Other adjustment |
|
|
|
Cumulative translation adjustments |
30.00 |
0.00 |
|
Net loss not recognized as pension cost |
-11,921.00 |
-3,818.00 |
|
Unrealized gains (losses) on financial
instruments |
131,080.00 |
40,209.00 |
|
Unrealized revaluation |
133,076.00 |
146,066.00 |
|
Treasury stock |
-94,830.00 |
-108,218.00 |
|
Unrealized gains (losses) on financial
instruments |
157,435.00 |
74,239.00 |
|
Stockholdersˉ equity |
3,783,803.00 (USD 126,000,639.90) |
3,641,115.00 (USD 121,249,129.50) |
|
Number of treasury stock acquired by the company
and subsidiaries (unit: share) |
7,271,000.00 |
8,736,000.00 |
|
Issuing shares of stock capital in advance
(shareholders' equity) (unit: share) |
0.00 |
0.00 |
(As of 2014.04, 1 NTD = 0.0333 USD)
Profit and Loss Account
Unit: NTD/000
|
|
2012 |
2011 |
|
Sales |
2,316,147.00 (USD 76,201,236.30) |
2,831,071.00 (USD 93,142,235.90) |
|
Sales returns |
67.00 |
0.00 |
|
Sales discounts and allowances |
31.00 |
0.00 |
|
Sales |
2,316,049.00 |
2,831,071.00 |
|
Operating income |
2,316,049.00 |
2,831,071.00 |
|
Sales cost |
2,283,809.00 |
2,722,671.00 |
|
Operating costs |
2,283,809.00 |
2,722,671.00 |
|
Gross profit (loss) from operations |
32,240.00 |
108,400.00 |
|
Distribution cost |
45,711.00 |
47,658.00 |
|
General and administrative expenses |
31,333.00 |
48,487.00 |
|
Operating expenses |
77,044.00 |
96,145.00 |
|
Operating net income (loss) |
-44,804.00 |
12,255.00 |
|
Non-Operating Income |
|
|
|
Interest income |
77.00 |
67.00 |
|
Investment income |
177,041.00 |
96,206.00 |
|
Income from long-term equity investments under
the equity method |
176,491.00 |
95,000.00 |
|
Stock interest income |
550.00 |
1,206.00 |
|
Fixed assets interests |
35,778.00 |
0.00 |
|
Foreign exchange gains |
0.00 |
8,634.00 |
|
Miscellaneous income |
6,770.00 |
2,878.00 |
|
Non-operating revenues and gains |
219,666.00 |
107,785.00 |
|
Non-Operating Expenses and Loss |
|
|
|
Interest expense |
44,034.00 |
35,194.00 |
|
Fixed assets loss |
0.00 |
149.00 |
|
Foreign exchange loss |
4,535.00 |
0.00 |
|
Impairment loss |
37,264.00 |
5,273.00 |
|
Miscellaneous disbursements |
9.00 |
87.00 |
|
Non-operating expenses and losses |
85,842.00 |
40,703.00 |
|
Pre-tax net profit to continue operating (net
loss) |
89,020.00 |
79,337.00 |
|
Income tax expense (benefit) |
15,167.00 |
-8,572.00 |
|
Continue operating net profit (net loss) |
73,853.00 |
87,909.00 |
|
Net income (loss) |
73,853.00 (USD 2,459,304.90) |
87,909.00 (USD 2,927,369.70) |
|
Primary Earnings per Share |
|
|
|
Primary earnings per share |
0.34 |
0.40 |
|
Diluted earnings per share |
|
|
|
Diluted earnings per share |
0.34 |
0.40 |
(As of 2014.04, 1 NTD = 0.0333 USD)
Cash Flows
Unit: NTD/000
|
|
2012 |
2011 |
|
Cash Flows from Operating Activities - Indirect
Method |
|
|
|
Net Income (Loss) |
73,853.00 |
87,909.00 |
|
Adjustment item |
|
|
|
Depreciation Expense |
86,517.00 |
78,939.00 |
|
Amortization Expense |
531.00 |
1,436.00 |
|
Share base payment cost |
0.00 |
746.00 |
|
Difference between term net pension cost and
number of contributions |
629.00 |
1,308.00 |
|
Investment loss (gain) under Equity Method |
-176,491.00 |
-95,000.00 |
|
Received the equity method investment company
cash dividend |
7,090.00 |
489.00 |
|
Dispose of real estate investment loss
(interests) |
-35,778.00 |
149.00 |
|
Financial Assets impairment loss |
37,264.00 |
5,273.00 |
|
Deferred income tax charge (interests) |
15,160.00 |
-8,572.00 |
|
Net change of operating assets and liabilities |
|
|
|
Decrease (Increase) in Notes Receivable |
4,969.00 |
28,621.00 |
|
Decrease (Increase) in Accounts Receivable |
19,861.00 |
171,305.00 |
|
Decrease (Increase) in Accounts
Receivable-related parties |
-744.00 |
1,135.00 |
|
Decrease (Increase) in other Accounts Receivable |
350.00 |
8,709.00 |
|
Decrease (Increase) in Inventories |
-14,830.00 |
-118,996.00 |
|
Decrease (Increase) in advance payment |
8,103.00 |
12,448.00 |
|
Increase (Decrease) in Accounts Payable |
-17,794.00 |
-37,308.00 |
|
Increase (Decrease) in Accounts Payable-related
parties |
-55,563.00 |
-339,245.00 |
|
Increase (Decrease) in Income Tax Payable |
0.00 |
-834.00 |
|
Increase (Decrease) in Accrued Expenses |
-5,600.00 |
-5,430.00 |
|
Increase (Decrease) in Other Current Liabilities |
-3,550.00 |
4,504.00 |
|
Net Cash Provided by (Used in) Operating
Activities |
-56,023.00 |
-202,414.00 |
|
Cash Flows from Investing Activities |
|
|
|
Prepare financial assets available for sale |
0.00 |
-27,325.00 |
|
Adding long-term equity investment of equity
method |
-14,000.00 |
-228,047.00 |
|
Purchase of fixed assets |
-38,313.00 |
-38,009.00 |
|
Sale of Fix Asset |
88,728.00 |
622.00 |
|
Deferred expenses increase |
-383.00 |
-483.00 |
|
Net Cash Provided by (Used in) Investing
Activities |
36,032.00 |
-293,242.00 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in Short-term Loans |
150,000.00 |
-160,000.00 |
|
Raising long-term borrowing |
0.00 |
1,200,000.00 |
|
Repay long-term borrowing |
-60,000.00 |
-466,223.00 |
|
Cost of buy storage stock |
-973.00 |
-93,858.00 |
|
Employees to buy called shares |
0.00 |
17,915.00 |
|
Net Increase (Decrease) in Cash and Cash
Equivalents |
89,027.00 |
497,834.00 |
|
Net Increase (Decrease) in Cash and Cash
Equivalents |
69,036.00 |
2,178.00 |
|
Cash and Cash Equivalents, Beginning of year |
122,016.00 |
119,838.00 |
|
Cash and Cash Equivalents, End of year |
191,052.00 |
122,016.00 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid |
44,021.00 |
34,904.00 |
|
Interest of this term not contain capitalization |
44,021.00 |
34,904.00 |
|
Income Tax Paid |
13.00 |
845.00 |
|
Non-cash Investing and Financing Activities |
|
|
|
Long-term Liabilities within one year |
180,000.00 |
60,000.00 |
|
Stock cancellation cancel |
14,361.00 |
20,756.00 |
|
Other expose information |
|
|
|
Fixed assets increase |
39,846.00 |
31,808.00 |
|
Increase (Decrease) of equipment and project
payable |
-1,533.00 |
6,201.00 |
|
Cash for purchasing fixed assets |
38,313.00 |
38,009.00 |
|
Distribution of cash dividend |
0.00 |
0.00 |
|
Decrease of dividends payable |
0.00 |
0.00 |
|
Dividend paid |
0.00 |
0.00 |
|
Decrease of remuneration of directors and
supervisors and bonus of employees |
0.00 |
0.00 |
|
Payment of remuneration of directors and
supervisors and bonus of employees |
0.00 |
0.00 |
Bankers
|
Name |
Taichung Commercial Bank Co., Ltd. |
Public Record
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.
Interview Details
|
Name |
Ms. Chen |
|
Department |
Sales |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.87 |
|
|
1 |
Rs.100.98 |
|
Euro |
1 |
Rs.82.40 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
PDT |
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.