|
Report Date : |
24.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
ADDA CORP. |
|
|
|
|
Registered Office : |
No.6, East
Section, Industry 6 Road, Pingtung City, Pingtung County 900 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
19.07.1978 |
|
|
|
|
Com. Reg. No.: |
90724033 |
|
|
|
|
Legal Form : |
Joint Stock
Company |
|
|
|
|
Line of Business : |
Manufacturing
and sales of electronic products |
|
|
|
|
No of Employees : |
About 270
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 – September 30, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Taiwan |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate 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: |
35 F, No.38, Singuang
Road, Ling Ya District, Kaohsing City, Taiwan (R.O.C) |
|
Supplied Address: |
|
|
Telephone Number: |
+886-7-269-5166 |
|
Fax Number: |
+886-7-269-5366 |
|
E-mail: |
|
|
Website: |
Notes: The exact name and address are as above and the supplied address belongs to subject’s Pingtung factory.
|
Credit Opinion: |
|
|
Risk Analysis: |
Good creditworthiness |
|
Registered Name: |
ADDA Corp. |
|
Registered Address: |
No.6, East Section, Industry 6 Road,
Pingtung City, Pingtung County 900, Taiwan, R.O.C. |
|
Date of Foundation: |
1978-7-19 |
|
Registration Number: |
90724033 |
|
Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C. |
|
Registered Capital: |
NTD 2,400,000,000 (USD
81,600,000) (As of 2014.05, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 1,460,678,760
(USD 49,663,078) |
|
Legal Representatives: |
Ruiyi Huang |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject was incorporated on 1978-7-19 with registered number 90724033 as Joint Stock Company in Taiwan.
Subject listed on Taiwan Over-The-Counter Securities Exchange on 2004-12-30.
|
Name |
Subscription Shares |
|
Kang Xun Co., Ltd. (Literal Translation) |
27,952,223 |
|
Zhi Rong Zaizao Consultant Co., Ltd.
(Literal Translation) |
7,279 |
|
Ya Da Investment and Development Co., Ltd.
(Literal Translation) |
6,756,884 |
|
China Development and Investment Co., Ltd.
(Literal Translation) |
7,267,810 |
|
Hua Sheng Venture Capital Co.,
Ltd. |
4,199,560 |
The information above is that of subject’s major shareholders.
Shareholder
Information
|
1 |
|
|
Registered Name: |
Kang Xun Co., Ltd. (Literal Translation) |
|
Registered Address: |
1/F., No.20, Lane 21 Ba-de Road, Douliu
City, Yunlin County, Taiwan |
|
Date of Foundation: |
2008-2-27 |
|
Registration Number: |
28933209 |
|
Registry: |
MOEA Central Office |
|
Registered Capital: |
NTD 60,000,000 (USD 2,040,000) (As of 2014.05, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 60,000,000 (USD 2,040,000) |
|
Legal Representatives: |
Ruiyi Huang |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2013-3-11 |
|
2 |
|
|
Registered Name: |
Zhi Rong Zaizao Consultant Co., Ltd. (Literal Translation) |
|
Registered Address: |
7th Floor, No.122, Dunhua North
Road, Songshan District, Taipei City, Taiwan |
|
Date of Foundation: |
2005-5-12 |
|
Registration Number: |
27723802 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 1,000,000 (USD 34,000) (As of 2014.05, 1 NTD = 0.0340 USD) |
|
Legal Representatives: |
Lida Lv |
|
Legal Form: |
Private Limited Liabilities Company |
|
Date of Last Annual Return: |
2006-8-10 |
|
3 |
|
|
Registered Name: |
Ya Da Investment and Development Co., Ltd. (Literal Translation) |
|
Registered Address: |
11/F-3, No.55, Zhongzheng 3rd
Road, Xinxing District, Kaohsiung City, Taiwan |
|
Date of Foundation: |
1999-9-3 |
|
Registration Number: |
16813051 |
|
Registry: |
Economic Development Board of Kaohsiung City
Government |
|
Registered Capital: |
NTD 70,000,000 (USD 2,380,000) (As of 2014.05, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 70,000,000 (USD 2,380,000) |
|
Legal Representatives: |
Xinmao Xie |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2013-12-27 |
|
4 |
|
|
Registered Name: |
China Development and Investment Co., Ltd. (Literal Translation) |
|
Registered Address: |
11th Floor, No.125, Sec 5, Nanjing
East Road, Songshan District, Taipei City, Taiwan |
|
Date of Foundation: |
2002-3-5 |
|
Registration Number: |
80328870 |
|
Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C. |
|
Registered Capital: |
NTD 9,255,380,000 (USD 314,682,920) (As of 2014.05, 1 NTD = 0.0340 USD) |
|
Paid-up Capital: |
NTD 6,086,713,630 (USD 206,948,263) |
|
Legal Representatives: |
Daren Zhou |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2013-10-7 |
|
5 |
|
|
Registered Name: |
Hua Sheng Venture Capital Co., Ltd. |
|
Registered Address: |
Room 3201, 32/ F., No.333, Sec 1, Keelung
Road, Xinyi District, Taipei City, Taiwan |
|
Date of Foundation: |
2004-3-2 |
|
Registration Number: |
27232600 |
|
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 899,640,000 (USD 30,587,760) |
|
Legal Representatives: |
Zongyong Lin |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2014-2-6 |
Factories
|
1 |
|
|
Name |
Pingtung Factory |
|
Address |
No.6, East Section Industrial 6th Road, Pingtung City,
Pingtung County, Taiwan (R.O.C) |
|
Telephone Number |
+886-8-755-0579 |
|
Fax Number |
+886-8-753-2815 |
|
Date of Foundation: |
1985-12-12 |
|
Date of Registration: |
1987-1-26 |
|
Factory Registration Number: |
99665923 |
|
Factory Manager: |
Zhilong He |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2013-9-9 |
|
Major Products: |
264
photoelectric material and component 269
other electronic components 313 bicycle and its parts |
|
2 |
|
|
Name |
Xingwang Factory |
|
Address |
Bldg 10, The Third Industrial Zone, Wanfeng Village,
Shajing Town, Baoan District, Shenzhen City, Guangdong Province, China |
|
Telephone Number |
+86-755-2723-0759 |
|
Fax Number |
+86-755-2723-0754 |
|
3 |
|
|
Name |
Gaojing Factory |
|
Address |
98 Industrial City, Wanfeng Village, Shajing Town, Baoan
District, Shenzhen City, Guangdong Province, China |
|
Telephone Number |
+86-755-2985-1308 |
|
Fax Number |
+86-755-2985-1108 |
|
4 |
|
|
Name |
Kunshan Factory |
|
Address |
No.88, Fengjiang Road, Zhangpu Town, Kunshan City, Jiangsu
Province, China |
|
Telephone Number |
+86-512-5745-1127 |
|
Fax Number |
+86-512-57451146 |
Office
|
Name |
Taipei Office |
|
Address |
9Fl-6, No.81,Sec.1, Hsin-Tai 5th Road , Sijhih District,
New Taipei City, Taiwan (R.O.C) |
|
Telephone Number |
+886-2-2698-0277 |
|
Fax Number |
+886-2-2698-0295 |
R&D Centre
|
Address |
10F-7, No.77, Sec.1, Hsin-Tai 5th Road , Sijhih District, New Taipei
City, Taiwan (R.O.C) |
|
Telephone Number |
+886-2-8698-4160 |
|
Fax Number |
+886-2-8698-4222 |
Related Company
|
Name |
Warburg Branch Trade (Shenzhen) Co., Ltd. |
|
Address |
Room 1101-1102, 11th Floor, Xingji Building, Xinsha Road,
Shajing Street, Shenzhen City, Guangdong Province, China |
|
Telephone Number |
+86-755-2988-3085 |
Core Management
Directors
|
1 |
|
|
Name |
Rongjie Xu |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Lida Lv |
|
Position |
Director |
|
3 |
|
|
Name |
Shoucan Chen |
|
Position |
Director |
|
4 |
|
|
Name |
Zhenghong Cai |
|
Position |
Director |
|
5 |
|
|
Name |
Xinmao Xie |
|
Position |
Director |
|
6 |
|
|
Name |
Yanzuo Lu |
|
Position |
Director |
|
7 |
|
|
Name |
Songtian Guan |
|
Position |
Director |
|
8 |
|
|
Name |
Shoujun Xu |
|
Position |
Independent Director |
|
9 |
|
|
Name |
Xiangru Liao |
|
Position |
Supervisor |
|
10 |
|
|
Name |
Guangyu Yang |
|
Position |
Supervisor |
|
11 |
|
|
Name |
Zhaoxiong Lin |
|
Position |
Manager |
|
Date of Appointment |
2012-1-1 |
Personnel
Structure
|
Total Employees |
About 300 Employees (Taiwan) |
Offices &
Factories
|
|
Headquarters |
|
Add |
35 F, No.38, Singuang Road, Ling Ya
District, Kaohsing City, Taiwan (R.O.C) |
Production
Information
l
Subject is engaged in manufacturing of electronic
products, etc.
l
Subject has factories in Taiwan and Mainland China
for production.
l
Subject obtained the certifications of ISO 9001,
ISO 9002, ISO 14001, QS 9000 and OHSAS 18001, etc.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
C805030 |
Manufacturing of plastic daily necessities |
|
C805050 |
Manufacturing of industrial plastic
products |
|
C805990 |
Manufacturing of other plastic products |
|
CC01030 |
Manufacturing of electrical equipment and
audio-visual electronic products |
|
CC01040 |
Manufacturing of lighting equipment |
|
CC01060 |
Manufacturing of wire communication
machinery |
|
CC01110 |
Manufacturing of computer and office
equipment |
|
CC01990 |
Manufacturing of other electrical machine
and electronic machinery |
|
CE01030 |
Manufacturing of optical instrument |
|
CQ01010 |
Manufacturing of mould |
|
F113020 |
Wholesale of electrical equipment |
|
F113070 |
Wholesale of telecommunications equipment |
|
F213010 |
Retail of electrical equipment |
|
F213060 |
Retail of telecommunications equipment |
|
ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
l
The components for production are
mostly purchased in domestic market.
l
Subject is engaged in
sales of electronic products, etc, etc.
l
The major produces sold
by subject include CPU cooler modules, blower fans, DC axial-flow/blower fans
and AC axial-flow fans, etc.
l
The products are applied
to computer, DVD and motor, etc.
l
Subject has their own
brand “ADDA”.
l
Subject’s major customers
include Qualtek Electronics Corp, “HP”, “AIWA”, “SIEMENS”, “COMPAQ”, “QUANTA”,
“ACER”, “SONY”, “IBM”, “SAMSUNG”, “HITACHI”, “MICROSOFT” and “ASUS”, etc.
Domestic Purchase
|
Terms |
Proportion |
|
|
Components |
T/T,
etc |
100% |
Foreign Purchase
Subject has little import.
Sales
Domestic
Markets
|
Terms |
Proportion |
|
|
Electronic products, etc |
T/T,
etc |
Export
|
Terms |
Proportion |
|
|
Electronic products, etc |
L/C,
T/T, etc |
100% |
|
|
2012-12-31 |
2011-12-31 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
508,825.00 |
517,280.00 |
|
Available-for-sale financial assets- current |
720.00 |
232.00 |
|
Notes receivable - net |
5,250.00 |
11,148.00 |
|
Accounts receivable - net |
485,820.00 |
751,606.00 |
|
Accounts receivable - related parties - net |
74,458.00 |
32,127.00 |
|
Other financial assets-current |
5,119.00 |
1,613.00 |
|
Inventories |
29,737.00 |
114,196.00 |
|
Other current assets |
33,364.00 |
135,203.00 |
|
Current assets |
1,143,293.00 |
1,563,405.00 |
|
Financial assets measured at fair value
through profit or loss - non current |
3,058.00 |
3,058.00 |
|
Long-term equity investment under equity
method |
1,264,783.00 |
1,336,800.00 |
|
Investments |
1,264,783.00 |
1,336,800.00 |
|
Accumulated impairment - investments |
-3,758.00 |
-3,758.00 |
|
Funds and investments |
1,264,083.00 |
1,336,100.00 |
|
Fixed Assets |
167,222.00 |
166,972.00 |
|
Cost |
66,588.00 |
66,289.00 |
|
Transportation equipment |
4,770.00 |
4,770.00 |
|
Lease improvement |
721.00 |
1,559.00 |
|
Other facilities |
38,895.00 |
38,422.00 |
|
Cost of fixed assets |
322,847.00 |
322,663.00 |
|
Accumulated depreciation |
-147,774.00 |
-138,382.00 |
|
Accumulated impairment-fixed assets |
-12,950.00 |
-12,950.00 |
|
Construction in process and prepayment for
equipments |
2,324.00 |
0.00 |
|
Fixed assets |
164,447.00 |
171,331.00 |
|
Intangible Assets |
|
|
|
Trademark right |
646.00 |
576.00 |
|
Computer software cost |
12,077.00 |
14,087.00 |
|
Intangible Assets |
12,723.00 |
14,663.00 |
|
Other Assets |
|
|
|
Guarantee deposits paid |
4,765.00 |
4,296.00 |
|
Long-term notes receivable and
payment–related parties |
145,995.00 |
144,196.00 |
|
Deferred income tax assets-non current |
11,681.00 |
29,164.00 |
|
Other assets-other |
2,896.00 |
0.00 |
|
Other assets |
165,337.00 |
177,656.00 |
|
Assets |
2,749,883.00 |
3,263,155.00 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowing |
93,668.00 |
67,128.00 |
|
Notes payable |
318.00 |
3,723.00 |
|
Accounts payable |
185,118.00 |
346,719.00 |
|
Accounts payable - related parties |
438,410.00 |
379,780.00 |
|
Income tax payable |
8,114.00 |
9,052.00 |
|
Accrued expenses |
43,377.00 |
78,277.00 |
|
Other payables |
14,441.00 |
15,774.00 |
|
Long-Term Liabilities -Current Portion |
0.00 |
295,200.00 |
|
Other current liabilities |
14,926.00 |
20,121.00 |
|
Current liabilities |
798,372.00 |
1,215,774.00 |
|
Long-term Liabilities |
|
|
|
Bonds payable |
0.00 |
0.00 |
|
Long-term loan |
20,000.00 |
0.00 |
|
Long-term liabilities |
20,000.00 |
0.00 |
|
Reserves |
|
|
|
Other Liabilities |
|
|
|
Pension reserve / accrued pension liability |
19,616.00 |
18,699.00 |
|
Guarantee deposits received |
62.00 |
62.00 |
|
Other liabilities |
19,678.00 |
18,761.00 |
|
Liabilities |
838,050.00 |
1,234,535.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
1,827,718.00 |
1,846,168.00 |
|
Capital Surplus |
|
|
|
Capital surplus–share premium |
19,438.00 |
19,072.00 |
|
Capital surplus–treasury stock trading |
2,791.00 |
0.00 |
|
Capital surplus - subscription right |
0.00 |
562.00 |
|
Capital surplus |
22,229.00 |
19,634.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
7,878.00 |
0.00 |
|
Unappropriated retained earnings |
38,738.00 |
78,784.00 |
|
Retained earnings |
46,616.00 |
78,784.00 |
|
Stockholders' Equity and Other adjustment |
|
|
|
Cumulative translation adjustments |
42,510.00 |
84,034.00 |
|
Treasury stock |
-27,240.00 |
0.00 |
|
Stockholders' equity and other adjustment |
15,270.00 |
84,034.00 |
|
Stockholders-equity |
1,911,833.00 (USD
65,002,322.00) |
2,028,620.00 (USD 68,973,080.00) |
|
Number of treasury stock acquired by the
company and subsidiaries (unit: share) |
3,805,000.00 |
0.00 |
|
Equivalent shares of outstandings of advance
receipts for common stock (Unit: share) |
0.00 |
0.00 |
(As of 2014.05, 1 NTD = 0.0340 USD)
Unit: NTD/000
|
|
2012 |
2011 |
|
Sales |
2,292,597.00 (USD 77,948,298.00) |
2,922,293.00 (USD 99,357,962.00) |
|
Sales returns |
7,561.00 |
18,048.00 |
|
Sales discounts |
7,732.00 |
8,072.00 |
|
Sales |
2,277,304.00 |
2,896,173.00 |
|
Operating income |
2,277,304.00 |
2,896,173.00 |
|
Operating costs |
1,910,909.00 |
2,439,492.00 |
|
Gross profit (loss) from operations |
366,395.00 |
456,681.00 |
|
Unrealized gains on intercompany
transactions |
10,343.00 |
9,571.00 |
|
Realized gains on intercompany transactions |
9,571.00 |
5,312.00 |
|
Selling expense |
89,549.00 |
111,480.00 |
|
General and administrative expenses |
104,372.00 |
130,119.00 |
|
Research and development expenses |
96,971.00 |
115,963.00 |
|
Operating expenses |
290,892.00 |
357,562.00 |
|
Operating income (loss) |
74,731.00 |
94,860.00 |
|
Non-Operating Income |
|
|
|
Interest income |
1,495.00 |
851.00 |
|
Investment income |
0.00 |
23,128.00 |
|
Foreign exchange gains |
0.00 |
13,176.00 |
|
Rental income |
320.00 |
355.00 |
|
Valuation gain on financial assets |
488.00 |
0.00 |
|
Miscellaneous income |
20,686.00 |
4,160.00 |
|
Non-operating revenues and gains |
22,989.00 |
41,670.00 |
|
Non-Operating Expenses |
|
|
|
Interest expenses |
4,467.00 |
11,143.00 |
|
Investment losses |
50,035.00 |
0.00 |
|
Loss on disposal of fix assets |
273.00 |
269.00 |
|
Foreign exchange losses |
7,154.00 |
0.00 |
|
Impairment loss |
0.00 |
3,758.00 |
|
Valuation loss on financial assets |
0.00 |
10,633.00 |
|
Miscellaneous disbursements |
16.00 |
3,067.00 |
|
Non-operating expenses and losses |
61,945.00 |
28,870.00 |
|
Income from continuing operations before
income tax |
35,775.00 |
107,660.00 |
|
Income tax expense (benefit) |
31,007.00 |
25,793.00 |
|
Income from continuing operations |
4,768.00 |
81,867.00 |
|
Net income (loss) |
4,768.00 (USD 162,112.00) |
81,867.00 (USD 2,783,478.00) |
|
Primary Earnings per Share |
|
|
|
Primary earnings per share |
0.03 |
0.44 |
|
Diluted earnings per share |
|
|
|
Diluted earnings per share |
0.03 |
0.44 |
(As of 2014.05, 1 NTD = 0.0340 USD)
Unit: NTD/000
|
|
2012 |
2011 |
|
Cash Flows from Operating Activities - Indirect Method |
|
|
|
Net Income (Loss) |
4,768.00 |
81,867.00 |
|
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in)
Operating Activities |
|
|
|
Depreciation Expense |
11,530.00 |
11,523.00 |
|
Selling Expense |
10,434.00 |
25,791.00 |
|
Provision for Bad Debt |
-7,775.00 |
7,049.00 |
|
Bond Payable Discount (Premium) Amortization |
360.00 |
2,146.00 |
|
Loss (Gain) on Decline (Recovery) in Market Value, Scrap and
Obsolescence of Inventories |
1,300.00 |
-1,717.00 |
|
Investment Loss (Income) Recognized under Equity Method |
50,035.00 |
-23,128.00 |
|
Loss (Gain) on Disposal of Property, Plant and Equipment |
273.00 |
269.00 |
|
Impairment Loss on Non-financial Assets |
0.00 |
3,758.00 |
|
Other Adjustments to Reconcile Net Income |
0.00 |
-128.00 |
|
Changes in Operating Assets and Liabilities |
|
|
|
Loss (Gain) on Trading Financial Assets |
-488.00 |
10,633.00 |
|
Decrease (Increase) in Notes Receivable |
5,898.00 |
6,374.00 |
|
Decrease (Increase) in Accounts Receivable |
273,561.00 |
-75,308.00 |
|
Decrease (Increase) in Accounts Receivable - Related Parties |
-42,331.00 |
-4,238.00 |
|
Decrease (Increase) in Inventories |
83,159.00 |
27,242.00 |
|
Decrease (Increase) in Other Current Assets |
-2,839.00 |
2,877.00 |
|
Decrease (Increase) in Other Financial Assets |
-3,506.00 |
1,705.00 |
|
Decrease (Increase) in Deferred Income Tax Assets |
22,344.00 |
13,663.00 |
|
Increase (Decrease) in Notes Payable |
-3,405.00 |
633.00 |
|
Increase (Decrease) in Accounts Payable |
-161,601.00 |
-68,941.00 |
|
Increase (Decrease) in Accounts Payable - Related Parties |
58,630.00 |
87,309.00 |
|
Increase (Decrease) in Income Tax Payable |
-938.00 |
-8,047.00 |
|
Increase (Decrease) in Accrued Expenses |
-34,900.00 |
-5,327.00 |
|
Increase (Decrease) in Other Accrued Expenses |
-1,333.00 |
-433.00 |
|
Increase (Decrease) in Other Current Liabilities |
-5,967.00 |
5,995.00 |
|
Increase (Decrease) in Accrued Pension Liabilities |
917.00 |
704.00 |
|
Increase (Decrease) in Deferred Credit |
772.00 |
4,259.00 |
|
Net Cash Provided by (Used in) Operating Activities |
258,898.00 |
106,530.00 |
|
Cash Flows from Investing Activities |
|
|
|
Increase in Long-term Investments at Equity |
-19,711.00 |
-244,904.00 |
|
Purchase of Property, Plant and Equipment |
-6,842.00 |
-3,366.00 |
|
Proceeds from disposal of fixed assets |
1,923.00 |
0.00 |
|
Decrease (Increase) in Refundable Deposits |
-469.00 |
479.00 |
|
Other Receivables - Decrease (Increase) in Related Parties |
-1,799.00 |
167,624.00 |
|
Increase (Decrease) in Restricted Assets |
90,072.00 |
-8,303.00 |
|
Purchase of Intangible Assets |
-2,113.00 |
-9,974.00 |
|
Increase (Decrease) in Other Assets |
625.00 |
460.00 |
|
Net Cash Provided by (Used in) Investing Activities |
61,686.00 |
-97,984.00 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in Short-term Loans |
26,540.00 |
-1,421.00 |
|
Bonds Redeemed |
-222,900.00 |
0.00 |
|
long-term Loans Borrowed |
0.00 |
5,727.00 |
|
Long-term Loans Redeemed |
-52,660.00 |
0.00 |
|
Increase (Decrease) in Guarantee Deposits Received |
0.00 |
62.00 |
|
Cash Dividends Paid |
-36,924.00 |
0.00 |
|
Cost of Treasury Stock |
-43,095.00 |
0.00 |
|
Net Cash Provided by (Used in) Financing Activities |
-329,039.00 |
4,368.00 |
|
Exchange Influence |
0.00 |
0.00 |
|
Net Increase (Decrease) in Cash and Cash Equivalents |
-8,455.00 |
12,914.00 |
|
Cash and Cash Equivalents, Beginning of year |
517,280.00 |
504,366.00 |
|
Cash and Cash Equivalents, End of year |
508,825.00 |
517,280.00 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid - Excluding Capitalized Interest |
10,717.00 |
2,365.00 |
|
Income Tax Paid |
9,601.00 |
20,177.00 |
|
Non-cash Investing and Financing Activities |
|
|
|
Long-Term Liabilities -Current Portion |
0.00 |
72,660.00 |
|
Bonds Payable -Current Portion |
0.00 |
222,540.00 |
|
Corporate Bonds Transfer Common Share |
0.00 |
495.00 |
|
Cumulative Translation Adjustment |
-41,681.00 |
95,597.00 |
|
Shareholders' Equity Transfer Capital Surplus |
-12.00 |
0.00 |
Subject declined to disclose its bank details; from other source we cannot obtain the relevant information, either.
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.
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 58.48 |
|
|
1 |
Rs. 98.67 |
|
Euro |
1 |
Rs. 79.80 |
INFORMATION DETAILS
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
DPT |
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.