|
Report Date : |
21.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
LCY CHEMICAL CORP. |
|
|
|
|
Formerly Known As : |
LEE CHANG YUNG CHEMICAL INDUSTRY CORPORATION |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
06.11.1965 |
|
|
|
|
Com. Reg. No.: |
39054405 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Engaged in manufacture
and sales of chemicals including polypropylene (PP), solvents and
other chemical products, methanol products, such as methanol, formaldehyde,
paraformaldehyde and dimethyl ether; solvents such as ethyl acetate,
isopropyl alcohol and methyl isobutyl ketone, as well as electronic chemical
products, PP related products, thermoplastic rubber and liquefied petroleum
gas (LPG). |
|
|
|
|
No. of Employees : |
About 800 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 : |
Good |
|
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 |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
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 |
Notes: The exact name and address are as
above.
|
Registered Name: |
|
|
Registered Address: |
|
|
Date of Foundation: |
|
|
Registration Number: |
39054405 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs,
R.O.C. |
|
Registered Capital: |
NTD 10,000,000,000 (USD 329,000,000) (As of 2014.04, 1 NTD = 0.0329 USD) |
|
Paid-up Capital: |
NTD 8,532,423,680 (USD 28,0716,739) |
|
Legal Representatives: |
Mouwei Li |
|
Legal Form: |
Joint Stock Company |
|
Principal Activities: |
Engaged in
manufacture and sales of chemicals including polypropylene (PP),
solvents and other chemical products, methanol products, such as methanol,
formaldehyde, paraformaldehyde and dimethyl ether; solvents such as ethyl
acetate, isopropyl alcohol and methyl isobutyl ketone, as well as electronic
chemical products, PP related products, thermoplastic rubber and liquefied
petroleum gas (LPG). |
|
Staff: |
|
|
Listed at Stock Exchange: |
Yes Stock Symbol: 1704
|
|
Date of Last Annual Return: |
2013-7-16 |
Subject was incorporated on
Subject was listed on Taiwan Stock Exchange on
Change of Name:
|
Former English Name |
Lee Chang Yung Chemical Industry Corporation |
|
Current English Name |
LCY Chemical Corp. |
|
Subscription Shares |
|
|
Mouwei Li |
68,090,515 |
|
Wai Lih Company Limited |
1,326,207 |
|
Fuju Co., Ltd (Literal Translation) |
4,889,734 |
The information above is that of subject’s major shareholders.
Shareholder Information:
|
1 |
|
|
Registered Name: |
Wai Lih Company Limited |
|
Registered Address: |
7f., No.83, Sec. 4, Bade Rd., Songshan
Dist., Taipei City 10561, Taiwan R.O.C. |
|
Date of Foundation: |
2011-3-31 |
|
Registration Number: |
53325631 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 70,000,000 (USD 2,303,000) (As of 2014.4, 1 NTD = 0.0329 USD) |
|
Paid-up Capital: |
NTD 70,000,000 (USD 2,303,000) |
|
Legal Representatives: |
Zhenfang Li |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2013-6-11 |
|
2 |
|
|
Registered Name: |
Taiwan Polypropylene Co., Ltd. |
|
Address: |
3F, 85 Bade Rd. Sec.4, Taipei 105, Taiwan |
|
Date of Foundation: |
2009-8-14 |
|
Registration Number: |
24455542 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 50,000,000 (USD 1,645,000) (As of 2014.4, 1 NTD = 0.0329 USD) |
|
Paid-up Capital: |
NTD 50,000,000 (USD 1,645,000) |
|
Legal Representatives: |
Xunjia Zhuang |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2013-4-29 |
Branch:
|
Branch Registered Number |
53016522 |
|
Branch Status |
Active |
|
Branch Name |
Nanzi Branch |
|
Branch Manager |
Congxian Shi |
|
Branch Address: |
No 68,Yan-Fa Rd, Sec Dist, Nanzi Export Processing Zone ,Kaohsiung
City 811,Taiwan R.O.C. |
|
Date of Incorporation |
|
|
Telephone Number: |
+886-7-364-8814 |
|
Fax Number: |
+886-7-364-4029 |
|
Date of Last Annual Return: |
2013-12-19 |
Factories
|
1 |
|
|
Name: |
Dashe Factory |
|
Address: |
No. 2, Jingjian Road, Sannai Alley, Dashe District, Gaoxiong City |
|
Date of Foundation: |
2076-4-1 |
|
Date of Registration: |
1990-12-31 |
|
Factory Registration Number: |
99661849 |
|
Factory Manager: |
Xizhou Wang |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2011-2-23 |
|
Major Products |
185 Man-made fiber 184 Synthetic resin, plastic and rubber |
|
2 |
|
|
Name: |
Linyuan Factory |
|
Address: |
No. 11, Shihua 3 Road, Linyuan District, Gaoxiong City |
|
Date of Foundation: |
1984-7-25 |
|
Date of Registration: |
1990-12-31 |
|
Factory Registration Number: |
99661372 |
|
Factory Manager: |
Ronghong Chen |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2013-6-10 |
|
Major Products |
181 Basic chemical materials 170 Petroleum and coal products |
|
3 |
|
|
Name: |
Xiaogang Factory |
|
Address: |
No. 20/18/16, Zhonglin Road, Fenggong Alley 812, Xiaogang District,
Gaoxiong City. |
|
Date of Foundation: |
1995-2-14 |
|
Date of Registration: |
1996-5-10 |
|
Factory Registration Number: |
64005174 |
|
Factory Manager: |
Maoxian Li |
|
Status: |
|
|
Date of Last Annual Return: |
2014-1-10 |
|
Major Products |
184 Synthetic resin, plastic and rubber 181 Basic chemical materials |
|
4 |
|
|
Name: |
Kaohsiung Port
Storage And Transportation Station |
|
Address: |
No. 2-1, Guohua 2 Street, Zhenbei Alley, Qianzhen District, Gaoxiong
City |
|
Date of Foundation: |
1979-6-27 |
|
Date of Registration: |
1981-5-16 |
|
Factory Registration Number: |
64003372 |
|
Factory Manager: |
Sheng Lu Zeng |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2010-11-4 |
|
Major Products |
199 Other chemical products |
|
5 |
|
|
Name: |
Kaohsiung Factory |
|
Address: |
No. 3, Zhonglin Road, Shanming Alley, Xiaogang District, Gaoxiong City |
|
Date of Registration: |
1969-7-10 |
|
Factory Registration Number: |
64000127 |
|
Factory Manager: |
Junjie Huang |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2013-11-19 |
|
Major Products |
199 Other chemical products |
|
6 |
|
|
Name: |
Hsin-Chu Factory |
|
Address: |
No. 131, Qianjia Road, Shuiyuan Alley, Xinzhu City |
|
Date of Foundation: |
1972-1-6 |
|
Date of Registration: |
1973-2-6 |
|
Date Of Closing Business |
1996-3-5 |
|
Factory Registration Number: |
99031114 |
|
Factory Manager: |
Zhejiang Guo |
|
Status: |
Close Business |
|
Date of Last Annual Return: |
1996-3-5 |
|
7 |
|
|
Address: |
No. 235, 1 Sec, Datong Road, Xizhi Town, New Taipei City |
|
Date of Registration: |
1969-1-1 |
|
Date Of Closing Business |
1986-12-2 |
|
Factory Registration Number: |
99002240 |
|
Factory Manager: |
Dacong Lin |
|
Status: |
Close Business |
|
Date of Last Annual Return: |
1986-12-2 |
Core Management
Directors
|
1 |
|
|
Name |
Mouwei Li |
|
Position |
Board Chairman & Manager |
|
Date of Appointment |
|
|
2 |
|
|
Name |
Shouren Wang |
|
Position |
Director |
|
3 |
|
|
Name |
Saifen Yang |
|
Position |
Director |
|
4 |
|
|
Name |
Minggong Li |
|
Position |
Director |
|
5 |
|
|
Name |
Zhengcheng Wei |
|
Position |
Director |
|
6 |
|
|
Name |
Xianjin Wu |
|
Position |
Director |
|
7 |
|
|
Name |
Congxian Shi |
|
Position |
Director |
|
8 |
|
|
Name |
Xunjia Zhuang |
|
Position |
Supervisor |
|
9 |
|
|
Name |
Kuncan Wang |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 800 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
|
Production
Information
·
Subject is engaged in manufacture of chemicals
·
Subject has factories in Taiwan and the mainland of
China for production.
·
It is introduced that all of subject has obtained
ISO 14001 certified
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
C801020 |
Manufacture of chemical materials |
|
C801100 |
Manufacture of China Synthetic Resin and Plastics |
|
C801060 |
|
|
G801010 |
Warehousing Industry |
|
C801010 |
Basic Chemical Industry |
|
C802120 |
Manufacture of industrial additives |
|
C802200 |
Manufacture of Coating paint dye and pigment |
|
F107990 |
Wholesales of other chemical products |
|
F207990 |
Retails of other chemical products |
|
D201040 |
Liquefied petroleum gas (LPG) packaging industry |
|
C803011 |
Oil Refinery Industry |
|
JE01010 |
Leasing Industry |
|
F112040 |
Wholesales of petroleum products |
|
F212050 |
Retails of petroleum products |
|
F401010 |
International Trading Business |
|
F112010 |
Wholesales of Petrol ang diesel fumes |
|
F107200 |
Wholesales of chemical materials |
|
F207200 |
Retails of chemical materials |
|
F401151 |
Import of petroleum |
|
F401100 |
Export of petroleum |
|
ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
Subject purchases raw materials both at home
and abroad.
Sales Information
·
The subject is mainly engaged in sales of chemicals
·
It is introduced that
subject’s major products include polypropylene (PP), solvents and other chemical
products, methanol products, such as methanol, formaldehyde, paraformaldehyde
and dimethyl ether; solvents such as ethyl acetate, isopropyl alcohol and
methyl isobutyl ketone, as well as electronic chemical products, PP related
products, thermoplastic rubber and liquefied petroleum gas (LPG).
·
It is introduced that
subject’s selling territory includes Asia, Europe, America, Australia
·
It is introduced that
subject’s major customers are chemical industry and other manufacturing
industry.
·
It is introduced that
subject’s major products are applied into the manufacturing of resins, agricultural
pesticides, catalysts, medicines, paintings, inks, artificial leather products,
shoes, industrial products, electronic components, toys and electrical
appliances
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Product |
Payment Terms |
Proportion |
|
Raw materials |
T/T, Cash |
100% |
Foreign Purchase
|
Product |
Payment Terms |
Proportion |
|
Raw materials |
L/C, T/T |
100% |
Sales
Domestic Markets
|
Product |
Sales Terms |
Proportion |
|
Petrochemical raw materials |
T/T, Cash |
100% |
Export
|
Product |
Sales Terms |
Proportion |
|
Petrochemical raw materials |
L/C, T/T |
100% |
Unit: NTD/000
|
|
2012-12-31 |
2011-12-31 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
1,095,591.00 |
738,073.00 |
|
Financial assets measured at fair value through profit or loss -
current |
20,675.00 |
153,467.00 |
|
Available-for-sale financial assets - current |
3,157,689.00 |
187,485.00 |
|
Financial assets carried at cost - current |
0 |
33,000.00 |
|
Notes receivable - net |
95,072.00 |
109,516.00 |
|
Accounts receivable - net |
1,275,808.00 |
1,140,412.00 |
|
Accounts receivable - related parties - net |
42,949.00 |
85,356.00 |
|
Other receivables |
230,080.00 |
197,273.00 |
|
Other receivables - related parties |
42,490.00 |
48,094.00 |
|
Inventories |
3,222,051.00 |
3,027,052.00 |
|
Prepaid expenses |
65,902.00 |
41,348.00 |
|
Other prepayments |
131,914.00 |
113,087.00 |
|
Other current assets |
158,603.00 |
136,230.00 |
|
Current assets |
9,538,824.00 |
6,010,393.00 |
|
Funds and Investments |
|
|
|
Financial assets carried at cost - non current |
260,278.00 |
309,388.00 |
|
Equity investments under equity method |
19,523,270.00 |
19,962,560.00 |
|
Investments |
19,523,270.00 |
19,962,560.00 |
|
Funds and long-term investments |
19,783,548.00 |
20,271,948.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
2,635,181.00 |
2,635,181.00 |
|
Buildings and structures |
754,850.00 |
607,501.00 |
|
Machinery and equipment |
9,144,161.00 |
7,566,904.00 |
|
Transportation equipment |
77,839.00 |
76,273.00 |
|
Other facilities |
1,288,529.00 |
961,719.00 |
|
Revaluation increment |
1,993,463.00 |
1,993,463.00 |
|
Cost and revaluation increment |
15,894,023.00 |
13,841,041.00 |
|
Accumulated depreciation |
-7,929,697.00 |
-7,330,528.00 |
|
Construction in process and prepayment for equipments |
690,124.00 |
2,229,908.00 |
|
Fixed assets |
8,654,450.00 |
8,740,421.00 |
|
Intangible Assets |
|
|
|
Patents |
4,118.00 |
5,020.00 |
|
Computer software cost |
10,151.00 |
7,286.00 |
|
Other intangible assets |
20,597.00 |
82,387.00 |
|
Intangible assets |
34,866.00 |
94,693.00 |
|
Other Assets |
|
|
|
Idled assets |
664,611.00 |
664,611.00 |
|
Guarantee deposits paid |
17,776.00 |
15,673.00 |
|
Deferred charges |
31,770.00 |
43,095.00 |
|
Long-term notes and accounts receivable - related parties |
0 |
10,294.00 |
|
Other assets - other |
15,808.00 |
3,740.00 |
|
Other assets |
729,965.00 |
737,413.00 |
|
Assets |
38,741,653.00 |
35,854,868.00 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowings |
292,338.00 |
5,718,163.00 |
|
Financial liabilities measured at fair value through profit or loss -
current |
3,574.00 |
0 |
|
Notes payable |
6,327.00 |
4,239.00 |
|
Accounts payable |
2,079,814.00 |
2,024,319.00 |
|
Accounts payable - related parties |
3,439.00 |
7,720.00 |
|
Income tax payable |
139,535.00 |
69,769.00 |
|
Accrued expenses |
552,292.00 |
669,545.00 |
|
Other payables - related parties |
617 |
1,968.00 |
|
Other payables |
111,449.00 |
186,527.00 |
|
Advance receipts |
150,897.00 |
91,876.00 |
|
Long-term liabilities - current portion |
398,611.00 |
714,286.00 |
|
Other current liabilities |
3,328.00 |
18,997.00 |
|
Current liabilities |
3,742,221.00 |
9,507,409.00 |
|
Long term Liabilities |
|
|
|
Bonds payable |
1,956,261.00 |
0 |
|
Long-term borrowings |
6,901,389.00 |
500,000.00 |
|
Long-term deferred revenues |
55,272.00 |
67,438.00 |
|
Long-term liabilities |
8,912,922.00 |
567,438.00 |
|
Reserves |
|
|
|
Reserve for land revaluation increment tax |
994,802.00 |
994,802.00 |
|
Reserves |
994,802.00 |
994,802.00 |
|
Other Liabilities |
|
|
|
Guarantee deposits received |
5,002.00 |
4,802.00 |
|
Deferred income tax liabilities |
2,412,790.00 |
1,983,264.00 |
|
Other liabilities - other |
7,225.00 |
6,398.00 |
|
Other liabilities |
2,425,017.00 |
1,994,464.00 |
|
Liabilities |
16,074,962.00 |
13,064,113.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
8,532,424.00 |
8,032,424.00 |
|
Capital Surplus |
|
|
|
Capital surplus - additional paid-in capital |
5,242,481.00 |
3,957,445.00 |
|
Capital surplus - treasury stock transactions |
274,124.00 |
274,124.00 |
|
Capital surplus - donated assets received |
9,401.00 |
9,401.00 |
|
Capital surplus - long-term equity investments |
138,884.00 |
37,816.00 |
|
Capital surplus - premium from merger |
3,600,616.00 |
3,600,616.00 |
|
Capital surplus - employee stock option |
0 |
33,700.00 |
|
Capital surplus - stock option |
52,304.00 |
0 |
|
Capital surplus |
9,317,810.00 |
7,913,102.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
2,140,979.00 |
1,909,553.00 |
|
Special reserve |
15,473.00 |
15,473.00 |
|
Inappropriate retained earnings |
1,848,535.00 |
3,557,082.00 |
|
Retained earnings |
4,004,987.00 |
5,482,108.00 |
|
Stockholders' Equity and Other adjustment |
|
|
|
Cumulative translation adjustments |
-755,683.00 |
-212,346.00 |
|
Unrealized gains (losses) on financial instruments |
20,699.00 |
29,013.00 |
|
Unrealized Revaluation Increment |
1,546,454.00 |
1,546,454.00 |
|
Equity adjustments |
811,470.00 |
1,363,121.00 |
|
Stockholdersˉ equity |
22,666,691.00 (USD 745,734,133.90) |
22,790,755.00 (USD 749,815,839.50) |
|
Number of treasury stock acquired by the company and subsidiaries
(unit: share) |
0 |
0 |
|
|
0 |
0 |
(As of 2014.04, 1 NTD = 0.0329 USD)
Unit: NTD/000
(As of 2014.04, 1 NTD = 0.0329 USD)
Unit: NTD/000
|
|
2012 |
2011 |
|
Cash Flows from Operating Activities - Indirect Method |
|
|
|
Net Income (Loss) |
611,309.00 |
2,484,799.00 |
|
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in)
Operating Activities |
|
|
|
Depreciation Expense |
635,878.00 |
497,005.00 |
|
Amortization Expense |
83,746.00 |
112,124.00 |
|
Share-based Compensation |
1,336.00 |
170,153.00 |
|
Amortization of Discounts (Premiums) on Bonds Payable |
7,470.00 |
0.00 |
|
Investment Loss (Income) Recognized under Equity Method |
-267,250.00 |
-1,771,234.00 |
|
Cash Dividends Received from Investments Accounted for under Equity
Method |
167,033.00 |
4,314.00 |
|
Loss (Gain) on Disposal of Investments |
37,397.00 |
-162,910.00 |
|
Unrealized Revaluation Loss (Gain) on Financial Assets and Liabilities |
136,366.00 |
-131,948.00 |
|
Loss (Gain) on Deferred Income Tax |
515,730.00 |
497,045.00 |
|
Other Adjustments to Reconcile Net Income |
1,377.00 |
667.00 |
|
Changes in Operating Assets and Liabilities |
|
|
|
Decrease (Increase) in Financial Assets Held for Trading |
-5,344.00 |
2,114.00 |
|
Decrease (Increase) in Notes Receivable |
14,444.00 |
1,691.00 |
|
Decrease (Increase) in Accounts Receivable |
-135,396.00 |
-132,914.00 |
|
Decrease (Increase) in Accounts Receivable - Related Parties |
42,407.00 |
-43,323.00 |
|
Decrease (Increase) in Other Receivables |
17,332.00 |
87,862.00 |
|
Decrease (Increase) in Other Receivable- Related Parties |
5,604.00 |
-7,672.00 |
|
Decrease (Increase) in Inventories |
-198,645.00 |
-545,296.00 |
|
Decrease (Increase) in Prepaid Expenses |
-24,233.00 |
-25,963.00 |
|
Decrease (Increase) in Other Prepayments |
-18,827.00 |
-33,409.00 |
|
Decrease (Increase) in Other Current Assets |
3,304.00 |
-33,807.00 |
|
Decrease (Increase) in Other Operating Assets |
10,294.00 |
10,356.00 |
|
Increase (Decrease) in Notes Payable |
2,088.00 |
2,399.00 |
|
Increase (Decrease) in Accounts Payable |
55,495.00 |
304,543.00 |
|
Increase (Decrease) in Accounts Payable - Related Parties |
-4,281.00 |
-6,192.00 |
|
Increase (Decrease) in Income Tax Payable |
69,766.00 |
-159,571.00 |
|
Increase (Decrease) in Accrued Expenses |
-117,253.00 |
-1,551.00 |
|
Increase (Decrease) in Other Payables |
-47,885.00 |
-9,102.00 |
|
Increase (Decrease) in Other Payable - Related Parties |
-1,351.00 |
633.00 |
|
Increase (Decrease) in Receipts in Advance |
59,021.00 |
4,827.00 |
|
Increase (Decrease) in Other Current Liabilities |
-15,669.00 |
14,726.00 |
|
Increase (Decrease) in Deferred Credits |
-11,339.00 |
-11,787.00 |
|
Net Cash Provided by (Used in) Operating Activities |
1,629,924.00 |
1,118,579.00 |
|
Cash Flows from Investing Activities |
|
|
|
Acquisition of Available-for-sale Financial Assets |
-4,393,981.00 |
-882,974.00 |
|
Proceeds from Disposal of Available-for-sale Financial Assets |
1,425,838.00 |
804,752.00 |
|
Acquisition of Financial Assets Carried at Cost |
-74,614.00 |
-116,147.00 |
|
Proceeds from Disposal of Financial Assets Carried at Cost |
51,939.00 |
68,836.00 |
|
Capital Reduction of Financial Assets Carried at Cost |
25,185.00 |
65,630.00 |
|
Acquisition of Investments Accounted for by Equity Method |
-27,000.00 |
-2,455,312.00 |
|
Proceeds from Disposal of Investments Accounted for by Equity Method |
0.00 |
172,948.00 |
|
Proceeds from Capital Reduction of Investments Accounted for under
Equity Method |
0.00 |
1,987.00 |
|
Purchase of Property, Plant and Equipment |
-589,008.00 |
-1,576,537.00 |
|
Proceeds from Disposal of Property, Plant and Equipment |
4,944.00 |
3,378.00 |
|
Decrease (Increase) in Refundable Deposits |
-2,103.00 |
1,340.00 |
|
Increase in Deferred Charges |
0.00 |
-92.00 |
|
Decrease (Increase) in Restricted Assets |
-9,500.00 |
-3,065.00 |
|
Purchase of Intangible Assets |
-3,055.00 |
-4,539.00 |
|
Decrease (Increase) in Other Assets |
-3,210.00 |
0.00 |
|
Net Cash Provided by (Used in) Investing Activities |
-3,594,565.00 |
-3,919,795.00 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in Short-term Loans |
-5,425,825.00 |
1,313,951.00 |
|
Proceeds from Issuance of Bonds |
2,000,500.00 |
0.00 |
|
Proceeds from Long-term Debt |
6,800,000.00 |
500,000.00 |
|
Repayment of Long-term Debt |
-714,286.00 |
-1,503,571.00 |
|
Increase (Decrease) in Guarantee Deposits Received |
200.00 |
388.00 |
|
Cash Dividends Paid |
-2,088,430.00 |
-2,470,405.00 |
|
Proceeds from Issuance of Shares |
1,750,000.00 |
4,440,000.00 |
|
Proceeds from Sale of Treasury Stock |
0.00 |
202,649.00 |
|
Net Cash Provided by (Used in) Financing Activities |
2,322,159.00 |
2,483,012.00 |
|
Net Increase (Decrease) in Cash and Cash Equivalents |
357,518.00 |
-318,204.00 |
|
Cash and Cash Equivalents, Beginning of year |
738,073.00 |
1,056,277.00 |
|
Cash and Cash Equivalents, End of year |
1,095,591.00 |
738,073.00 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid- Excluding Capitalized Interest |
116,385.00 |
73,726.00 |
|
Income Tax Paid |
171,901.00 |
404,707.00 |
|
Non-cash Investing and Financing Activities |
|
|
|
Inventories Transferred to Deferred Charges |
3,646.00 |
1,093.00 |
|
Treasury Stock Retired |
0.00 |
179,085.00 |
|
Financial Assets Carried at Cost Reclassified as Available for Sale
Financial Assets |
0.00 |
46,829.00 |
|
Others |
5,572.00 |
929,887.00 |
|
Investing Activities Affecting Both Cash and Non-cash Items |
|
|
|
Cash Paid for Acquisition of Property, Plant and Equipment |
|
|
|
Increase in Property, Plant and Equipment |
561,815.00 |
1,597,046.00 |
|
Increase (Decrease) in Payable for Equipment Purchased |
27,193.00 |
-20,509.00 |
|
Cash Paid for Acquisition of Property, Plant and Equipment |
589,008.00 |
1,576,537.00 |
|
Other Supplemental Information |
|
|
|
Construction In Process transferred to Computer Software Cost |
5,572.00 |
0.00 |
|
Land-revaluation increments |
0.00 |
893,409.00 |
|
Spare parts transferred to property, plant and equipment |
0.00 |
36,478.00 |
Subject did not introduce its bank details;
from other source we can not obtain the relevant information, either.
Mortgage
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
024592 |
|
Debtor Name: |
Lcy Chemical Corp. |
|
Document Number: |
068481 |
|
Date of Registration: |
1986/2/27 |
|
Date of Alteration: |
1986/2/27 |
Lawsuit
Up to date of reporting, no existing or latent litigation of the subject
has been found.
|
Name: |
Ms. Shi |
|
Department |
Sales department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.75 |
|
|
1 |
Rs.98.77 |
|
Euro |
1 |
Rs.80.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.