|
Report Date : |
01.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
FAR EASTERN NEW CENTURY CORPORATION |
|
|
|
|
Formerly known as : |
Far
Eastern Textile Ltd. |
|
|
|
|
Registered Office : |
36f, No.207,
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
26.02.1951 |
|
|
|
|
Com. Reg. No.: |
03522600 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Engaged in manufacturing and trading of Textile Products such as Spun Yarn, Knitting Fabrics, Industrial Fabrics, Apparel, Staple Fiber, Polyester Staple Fiber, Long Fiber Polyester, Filament, Polyester Bottles of Embryos, Spinning & Weaving |
|
|
|
|
No. of Employees |
About 4,800 Employees (Group) |
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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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: |
|
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-2733-8000 |
|
Fax Number: |
|
|
E-mail: |
Notes: The exact name and address is as above, the subject did not explain the
supplied address.
|
Credit Opinion: |
Subject was
incorporated on 1951-2-26 with registered number 03522600 as Joint Stock
Company in Taiwan.
Subject was listed on Taiwan Stock
Exchange on 1967-04-14
Change of Name
|
Former Chinese Name |
遠東紡織股份有限公司 |
|
Current Chinese Name |
遠東新世紀股份有限公司 |
|
Former English Name |
Far Eastern Textile Ltd. |
|
Current English Name |
Far Eastern New Century Corporation |
|
Subscription Shares |
|
|
Xudong Xu |
59,350,922 |
|
Yue Ding Industry Co., Ltd. |
6,416,914 |
|
Asia Cement Corporation |
1,222,873,016 |
|
Far Eastern Dept. Store, Ltd. |
19,189,130 |
|
U-Ming Marine Transport Corporation |
29,970,656 |
|
ICANN Youyang Xu Foundation (Literal
Translation) |
8,163,435 |
The information above is that of subject’s major shareholders.
Shareholder
Information:
|
1 |
|
|
Registered Name: |
Yue Ding Industry Co., Ltd. |
|
Registered Address: |
34F, No. 207, Sec. 2, Dunhua S
Rd., Daan Dist., Taipei City, Taiwan |
|
Date of Foundation: |
1992-5-26 |
|
Registration Number: |
86686418 |
|
Registry: |
Department of Commerce, Ministry
of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 800,000,000 (USD 26,560,000) (As of 2014.7, 1 NTD = 0.0332
USD) |
|
Paid-up Capital: |
NTD 686,315,160 (USD 22,785,663) |
|
Legal Representatives: |
Weikun Zhou |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2013-9-12 |
|
2 |
|
|
Registered Name: |
Asia Cement Corporation |
|
Registered Address: |
30th-31th Fls., Taipei Metro
Tower No.207, Sec.2, Tun Hwa S. Rd., Taipei, Taiwan |
|
Date of Foundation: |
1957-3-21 |
|
Registration Number: |
03244509 |
|
Registry: |
Department of Commerce, Ministry
of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 36,000,000,000 (USD 1,195,200,000) (As of 2014.7, 1 NTD = 0.0332
USD) |
|
Paid-up Capital: |
NTD 32,955,364,690 (USD
1,094,118,108)) |
|
Legal Representatives: |
Xudong Xu |
|
Telephone Number |
+886 2-27338000 |
|
Fax Number |
+886 2-27366263 |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2013-9-23 |
|
3 |
|
|
Registered Name: |
Far Eastern Dept. Store, Ltd. |
|
Registered Address: |
2F-7F & 10F, No.27 Pao Ching
Road, Taipei Taiwan 10002 R.O.C. |
|
Date of Foundation: |
1967-8-31 |
|
Registration Number: |
03521905 |
|
Registry: |
Department of Commerce, Ministry
of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 17,500,000,000 (USD 581,000,000) (As of 2014.7, 1 NTD = 0.0332
USD) |
|
Paid-up Capital: |
NTD 14,109,760,680 (USD
468,444,055) |
|
Legal Representatives: |
Xudong Xu |
|
Telephone Number |
+886 2-23816155-9 |
|
Fax Number |
+886 2-23821371 |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2013-9-27 |
|
4 |
|
|
Registered Name: |
U-Ming Marine Transport
Corporation |
|
Registered Address: |
2ND Fl., 207, Sec.2, Tun Hwa S.
Rd., Taipei, Taiwan, R.O.C. |
|
Date of Foundation: |
1968-8-29 |
|
Registration Number: |
47067419 |
|
Registry: |
Department of Commerce, Ministry
of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 8,800,000,000 (USD 292,160,000) (As of 2014.7, 1 NTD = 0.0332
USD) |
|
Paid-up Capital: |
NTD 8,580,167,120 (USD
284,861,548) |
|
Legal Representatives: |
Xudong Xu |
|
Telephone Number |
+886 2-27338000 |
|
Fax Number |
+886 2-27359900 |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2013-7-4 |
Reserch Fileds:
|
1 |
|
|
Name |
Executive Office |
|
Manager |
Miss Cho |
|
Telephone Number |
+886-3-455-5136-802 |
|
Fax Number |
+886-3-455-2134 |
|
Email: |
|
|
2 |
|
|
Name |
Optoelectronics Div. |
|
Manager |
Da-Ren Chiou |
|
Telephone Number |
+886-3-4555136 #714 |
|
Fax Number |
+886-3-4552134 |
|
Email: |
|
|
3 |
|
|
Name |
Polyester Fiber &
Textile Div. |
|
Manager |
David Liu |
|
Telephone Number |
+886-3-455-5136 #850 |
|
Fax Number |
+886-3-455-2134 |
|
Email: |
|
|
4 |
|
|
Name |
Polymer Div. |
|
Manager |
Li-Ling Chang |
|
Telephone Number |
+886-3-455-5136 #830 |
|
Fax Number |
+886-3-4552134 |
|
Email: |
|
|
5 |
|
|
Name |
BioTech Div. |
|
Manager |
Chih-Ta Lee |
|
Telephone Number |
+886-3-455-5136 #753 |
|
Fax Number |
+886-3-4552134 |
|
Email: |
|
Factories
|
1 |
|
|
Name: |
Far Eastern New Century Corporation Chemical
Fiber General Factory |
|
Address: |
No. 600, 369, Yadong Sec., Wenshan Rd., Wenshan Li, Xinbu Town, Xinzhu
County, Taiwan. |
|
Date of Foundation: |
1969-1-1 |
|
Date of Registration: |
1971-9-24 |
|
Factory Registration Number: |
99630874 |
|
Factory Manager: |
Ronggui Cai |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2013-7-3 |
|
Major Products: |
111 spinning 112 weaving 113 non-woven
fabric 114 dying &
finishing 115 textile 181 basic
chemicals 182
petrochemical materials 183 fertilizer 184 synthetic
resin plastic and rubber 185 synthetic
fiber 191 pesticides
and environmental medicine 192 coating of
dyes and pigments 193 cleaning
supplies 194 cosmetics 199 other
chemical products 220 rubber products |
|
2 |
|
|
Name: |
Far Eastern New Century Corporation Hukou
Textile Factory |
|
Address: |
No. 30, Hexing Rd., Dongxing Village, Hukou Xiang, Xinzhu County,
Taiwan |
|
Date of Foundation: |
1974-2-5 |
|
Date of Registration: |
1989-6-5 |
|
Factory Registration Number: |
99630272 |
|
Factory Manager: |
Binghuang Ji |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2012-4-6 |
|
Major Products: |
111 spinning 112 weaving |
|
3 |
|
|
Name: |
Far Eastern New Century Corporation Neili Textile
Factory |
|
Address: |
No. 2,80,128, Yuandong Rd., Xingren Li, Zhongli City, Taoyuan County,
Taiwan |
|
Date of Foundation: |
1969-1-1 |
|
Date of Registration: |
1971-3-4 |
|
Factory Registration Number: |
99623061 |
|
Factory Manager: |
Huahong Zeng |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2010-11-10 |
|
Major Products: |
111 spinning 112 weaving 332 medical equipment and supplies |
|
4 |
|
|
Name: |
Far Eastern New Century Corporation Chemical
Textile Factory |
|
Address: |
No. 2-1, Industry 7 Rd., Shulin Village, Guanyin Xiang, Taoyuan
County, and No. 3, Jingjian 6 Rd., Industrial Zone, Guanyin Xiang, Taoyuan
County, Taiwan |
|
Date of Foundation: |
1992-12-29 |
|
Date of Registration: |
1997-12-17 |
|
Factory Registration Number: |
99622058 |
|
Factory Manager: |
Jindian Chen |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2013-9-23 |
|
Major Products: |
111 spinning 184 synthetic resin plastic and rubber |
|
5 |
|
|
Name: |
Far Eastern New Century Corporation Yilan
Factory |
|
Address: |
No. 49, Sec. 6, Jiaoxi Rd., Yushi Village, Jiaoxi Xiang, Yilan County,
Taiwan |
|
Date of Foundation: |
1969-1-1 |
|
Date of Registration: |
1977-10-28 |
|
Factory Registration Number: |
99620684 |
|
Factory Manager: |
Zhengzhe Lin |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2009-11-5 |
|
Major Products: |
115 textile 123 apparel 121 woven
garment 122 knitwear |
|
6 |
|
|
Name: |
Far Eastern New Century Corporation Guanyin Dyeing
Factory |
|
Address: |
No. 1, Guojian 2 Rd., Shulin Village, Guanyin Xiang, Taoyuan County,
Taiwan |
|
Date of Registration: |
2011-11-3 |
|
Factory Registration Number: |
03000745 |
|
Factory Manager: |
Yongjia Chen |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2011-11-3 |
|
Major Products: |
114 dying & finishing |
Core Management
|
1 |
|
|
Name |
Xudong Xu |
|
Position |
Chairman of the Board |
|
2 |
|
|
Name |
Jiayi Xi |
|
Position |
Vice Chairman of the Board |
|
3 |
|
|
Name |
Xuping Xu |
|
Position |
Director |
|
4 |
|
|
Name |
Xiaoyi Wang |
|
Position |
Director |
|
5 |
|
|
Name |
Xuming Xu |
|
Position |
Director |
|
6 |
|
|
Name |
Huiguo Yang |
|
Position |
Director |
|
7 |
|
|
Name |
Guangshou Li |
|
Position |
Director |
|
8 |
|
|
Name |
Guomei Xu |
|
Position |
Director |
|
9 |
|
|
Name |
Ping Shen |
|
Position |
Independent Director |
|
10 |
|
|
Name |
Baoshu Lin |
|
Position |
Independent Director |
|
11 |
|
|
Name |
Zhongxi Li |
|
Position |
Independent Director |
|
12 |
|
|
Name |
Caixiong Zhang |
|
Position |
Supervisor |
|
13 |
|
|
Name |
Hefang Xu |
|
Position |
Supervisor |
|
14 |
|
|
Name |
Guanjun Li |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 4,800
Employees(Group) |
Offices &
Factories
|
|
Headquarters |
|
Add |
Production
Information
l
Subject is engaged in manufacturing of textile products
l
Subject has factories in Taiwan and
Mainland China for production.
l
It is introduced that subject’s
capacity in Taiwan are as follows:
Unit: Ton
|
Product Category |
Taiwan Annual Capacity |
|
Spun Yarn |
240 |
|
Knitting Fabrics |
12,000 |
|
Industrial Fabrics |
10,000 |
|
Apparel (1,000 Dozen) |
420 |
|
Polyester Staple Fiber |
260,000 |
|
Long Fiber Polyester |
150,000 |
|
Elastic Fiber |
1,200 |
|
Polyester Bottles Of Embryos |
700,000 |
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
C301010 |
Spinning industry |
|
C302010 |
Textile industry |
|
C307010 |
Manufacture of clothes |
|
C801990 |
Manufacture of other chemical material |
|
F104110 |
Wholesale of cloth, shoes, hat |
|
F105050 |
Wholesale of furniture, decoration |
|
F106020 |
Wholesale of daily products |
|
F107990 |
Wholesale of other chemical material |
|
F204110 |
Retail of cloth, shoes, hat |
|
F205040 |
Retail of furniture, decoration |
|
F206020 |
Retail of daily products |
|
F207990 |
Retail of other chemical material |
|
F301010 |
Store Industry |
|
F401010 |
International trade |
|
ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
l
The raw materials for production are
both purchased at home and abroad.
l
Subject is engaged in sale of textile products and the related products
l
The major
products sold by the subject are spun yarn, knitting fabrics, industrial
fabrics, apparel, staple fiber, polyester staple fiber, Long fiber polyester,
filament, polyester bottles of embryos, spinning & weaving
l
Subject’s sales regions include domestic market,
Japan, Korea, Singapore, Southeast Asia, US, North America, Europe, etc.
l
Subject’s major customers are
manufacturers of clothing and apparel, etc.
Import
and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Terms |
Proportion |
|
|
Raw materials, etc. |
T/T,
Cash, etc. |
100% |
Foreign Purchase
|
Terms |
Proportion |
|
|
Raw materials, etc. |
L/C,
T/T, etc. |
100% |
Sales
Domestic Markets
|
Terms |
Proportion |
|
|
Textile
products, etc. |
T/T,
Cash, etc. |
100% |
Export
|
Terms |
Proportion |
|
|
Textile
products, etc. |
L/C,
T/T, etc. |
100% |
Unit: NTD/000
|
|
2013-12-31 |
2012-12-31 |
|
Total cash and cash equivalents |
26,645,574 |
30,645,166 |
|
Total current financial assets at fair
value through profit or loss |
1,191,688 |
1,058,519 |
|
Current available-for-sale financial
assets, net |
989,348 |
2,272,149 |
|
Current held-to-maturity financial assets,
net |
99,962 |
100,000 |
|
Current derivative financial assets for
hedging |
4,442 |
21,962 |
|
Current financial assets at cost, net |
42,587 |
0 |
|
Current bond investment without active
market, net |
2,606,689 |
3,145,035 |
|
Notes receivable, net |
26,884,947 |
27,892,166 |
|
Notes receivable due from related parties,
net |
856,754 |
731,426 |
|
Construction contracts receivable |
1,473,786 |
1,551,686 |
|
Other receivables, net |
1,641,758 |
1,837,097 |
|
Other receivables due from related
parties, net |
1,258,834 |
1,283,844 |
|
Total current tax assets |
48,216 |
114,392 |
|
Inventories, merchandising business, net |
24,184,972 |
21,617,120 |
|
Total inventories |
24,184,972 |
21,617,120 |
|
Total prepayments |
3,799,470 |
2,817,079 |
|
Other current financial assets |
3,946,576 |
2,874,067 |
|
Construction deposits paid |
52,292 |
48,207 |
|
Other current assets, others |
1,934,219 |
1,269,243 |
|
Total other current assets |
5,933,087 |
4,191,517 |
|
Total current assets |
97,662,114 (USD 3,242,382,184.80) |
99,279,158 (USD 3,296,068,045.60) |
|
Non-current available-for-sale financial
assets, net |
5,257,220 |
4,489,491 |
|
Non-current held-to-maturity financial
assets, net |
0 |
99,871 |
|
Non-current financial assets at cost, net |
926,908 |
1,130,424 |
|
Non-current bond investment without active
market, net |
0 |
256,508 |
|
Investments accounted for using equity
method, net |
47,683,367 |
46,677,090 |
|
Total property, plant and equipment |
129,620,260 |
116,637,790 |
|
Investment property, net |
35,307,315 |
36,155,930 |
|
Franchise |
37,734,135 |
5,090,449 |
|
Franchise, net |
37,734,135 |
5,090,449 |
|
Goodwill |
11,928,782 |
11,980,944 |
|
Other intangible assets |
4,184,122 |
3,818,998 |
|
Other intangible assets, net |
4,184,122 |
3,818,998 |
|
Total intangible assets |
53,847,039 |
20,890,391 |
|
Deferred tax assets |
2,812,572 |
1,834,329 |
|
Prepayments for business facilities |
944,727 |
2,881,210 |
|
Guarantee deposits paid |
576,314 |
582,788 |
|
Total other non-current financial assets |
4,071,707 |
7,543,319 |
|
Long-term prepaid rents |
7,406,266 |
2,315,715 |
|
Total other non-current assets, others |
239,647 |
314,901 |
|
Total other non-current assets |
13,238,661 |
13,637,933 |
|
Total non-current assets |
288,693,342 |
241,809,757 |
|
Total assets |
386,355,456 |
341,088,915 |
|
Total short-term borrowings |
28,053,848 |
25,807,392 |
|
Total short-term notes and bills payable |
5,117,694 |
6,286,740 |
|
Total current financial liabilities at
fair value through profit or loss |
590 |
619 |
|
Total notes payable |
17,452,151 |
19,253,330 |
|
Total notes payable to related parties |
261,571 |
292,283 |
|
Construction contracts payable |
412,498 |
160,779 |
|
Payable on machinery and equipment |
3,133,810 |
4,012,183 |
|
Other payables, others |
12,595,337 |
11,243,873 |
|
Total other payables |
15,729,147 |
15,256,056 |
|
Other payables to related parties |
75,977 |
43,119 |
|
Current tax liabilities |
3,115,500 |
2,688,208 |
|
Total current provisions |
193,328 |
160,425 |
|
Liabilities related to non-current assets
classified as held for sale |
334,939 |
401,798 |
|
Advance sales receipts |
1,199,481 |
1,107,451 |
|
Unearned revenue |
2,667,808 |
2,643,111 |
|
Total advance receipts |
3,867,289 |
3,750,562 |
|
Total long-term liabilities, current
portion |
8,845,696 |
3,991,578 |
|
Other current liabilities, others |
2,317,709 |
1,807,603 |
|
Total other current liabilities |
15,030,694 |
9,549,743 |
|
Total current liabilities |
85,777,937 |
79,900,492 |
|
Non-current derivative financial
liabilities for hedging |
421,280 |
287,522 |
|
Total bonds payable |
65,638,787 |
41,726,021 |
|
Total long-term borrowings |
43,622,704 |
32,232,012 |
|
Total non-current provisions |
705,863 |
654,791 |
|
Total deferred tax liabilities |
10,454,464 |
10,267,307 |
|
Accrued pension liabilities |
2,781,776 |
3,392,655 |
|
Guarantee deposits received |
645,013 |
739,923 |
|
Other non-current liabilities, others |
626,973 |
660,366 |
|
Total other non-current liabilities |
4,053,762 |
4,792,944 |
|
Total non-current liabilities |
124,896,860 |
89,960,597 |
|
Total liabilities |
210,674,797 |
169,861,089 |
|
Ordinary share |
51,450,165 |
50,441,338 |
|
Total capital stock |
51,450,165 |
50,441,338 |
|
Total capital surplus |
4,681,042 |
4,744,045 |
|
Legal reserve |
12,687,509 |
11,820,720 |
|
Special reserve |
25,448,036 |
25,471,594 |
|
Total unappropriated retained earnings
(accumulated deficit) |
13,955,940 |
15,100,772 |
|
Total retained earnings |
52,091,485 |
52,393,086 |
|
Total other equity interest |
4,634,101 |
2,430,425 |
|
Treasury shares |
25,063 |
25,063 |
|
Total equity attributable to owners of
parent |
112,831,730 |
109,983,831 |
|
Non-controlling interests |
62,848,929 |
61,243,995 |
|
Total equity |
175,680,659 (USD 5,832,597,878.80) |
171,227,826 (USD 5,684,763,823.20) |
|
Number of shares in entity held by entity
and by its subsidiaries |
749,000 |
734,000 |
(As of 2014.7, 1 NTD = 0.0332 USD)
Unit: NTD/000
|
|
2013 |
2012 |
|
Net sales revenue |
155,953,627 (USD 5,177,660,416.40) |
156,365,608 (USD 5,191,338,185.60) |
|
Gains on disposals of financial assets
(liabilities) |
530,650 |
103,530 |
|
Total investment revenue (for investment
business) |
530,650 |
103,530 |
|
Hospitality service revenue, net |
68,147,021 |
67,674,377 |
|
Total travel service revenue |
68,147,021 |
67,674,377 |
|
Construction revenue (for construction
business), net |
6,046,806 |
5,209,748 |
|
Total construction and engineering revenue |
6,046,806 |
5,209,748 |
|
Other operating revenue, net |
8,162,553 |
7,439,084 |
|
Total operating revenue |
238,840,657 |
236,792,347 |
|
Total cost of sales |
155,962,513 |
154,617,223 |
|
Total cost of hospitality services |
27,151,232 |
29,231,099 |
|
Total cost of travel services (for hotel
business) |
27,151,232 |
29,231,099 |
|
Cost of construction sales |
5,745,691 |
4,475,708 |
|
Total cost of construction and engineering
service sales |
5,745,691 |
4,475,708 |
|
Other operating costs |
3,497,304 |
4,175,212 |
|
Total operating costs |
192,356,740 |
192,499,242 |
|
Gross profit (loss) from operations |
46,483,917 |
44,293,105 |
|
Realized profit (loss) on from sales |
555 |
556 |
|
Gross profit (loss) from operations |
46,484,472 |
44,293,661 |
|
Total selling expenses |
22,052,202 |
22,262,649 |
|
Total administrative expenses |
10,448,419 |
9,114,037 |
|
Total research and development expenses |
675,902 |
700,375 |
|
Total operating expenses |
33,176,523 |
32,077,061 |
|
Net operating income (loss) |
13,307,949 |
12,216,600 |
|
Total interest income |
448,607 |
450,906 |
|
Other income, others |
1,184,876 |
937,482 |
|
Total other income |
1,633,483 |
1,388,388 |
|
Foreign exchange gains |
310,965 |
0 |
|
Gains on financial assets (liabilities) at
fair value through profit or loss |
402,456 |
171,068 |
|
Miscellaneous disbursements |
338,228 |
407,442 |
|
Losses on disposals of property, plant and
equipment |
1,356,800 |
1,105,548 |
|
Losses on disposals of investment property |
518 |
-1,075 |
|
Losses on disposals of intangible assets
other than goodwill |
1,912 |
604 |
|
Foreign exchange losses |
0 |
276,387 |
|
Total impairment loss |
214,451 |
202,860 |
|
Other gains and losses, net |
-1,198,488 |
-1,820,698 |
|
Interest expense |
1,432,622 |
1,414,201 |
|
Finance costs, net |
1,432,622 |
1,414,201 |
|
Share of profit (loss) of associates and joint
ventures accounted for using equity method, net |
4,197,698 |
3,057,869 |
|
Total non-operating income and expenses |
3,200,071 |
1,211,358 |
|
Profit (loss) from continuing operations
before tax |
16,508,020 |
13,427,958 |
|
Total tax expense (income) |
2,223,481 |
2,226,494 |
|
Profit (loss) from continuing operations |
14,284,539 |
11,201,464 |
|
Profit (loss) |
14,284,539 |
11,201,464 |
|
Exchange differences on translation |
2,474,593 |
-1,987,566 |
|
Unrealized gains (losses) on valuation of available-for-sale
financial assets |
515,409 |
167,070 |
|
Cash flow hedges |
-132,503 |
-200,397 |
|
Actuarial gains (losses) on defined
benefit plans |
128,401 |
-618,813 |
|
Total share of other comprehensive income of
associates and joint ventures accounted for using equity method |
-644,214 |
938,029 |
|
Income tax related to components of other
comprehensive income |
20,574 |
-101,679 |
|
Other comprehensive income, net |
2,321,112 |
-1,599,998 |
|
Total comprehensive income |
16,605,651 |
9,601,466 |
|
Profit (loss), attributable to owners of
parent |
7,207,081 |
4,917,568 |
|
Profit (loss), attributable to
non-controlling interests |
7,077,458 |
6,283,896 |
|
Comprehensive income, attributable to owners
of parent |
9,540,356 |
3,344,419 |
|
Comprehensive income, attributable to
non-controlling interests |
7,065,295 |
6,257,047 |
|
Basic earnings (loss) per share from
continuing operations |
1.50 |
1.02 |
|
Total basic earnings per share |
1.50 |
1.02 |
|
Diluted earnings (loss) per share from
continuing operations |
1.49 |
1.02 |
|
Total diluted earnings per share |
1.49 |
1.02 |
(As of 2014.7, 1 NTD = 0.0332 USD)
Unit: NTD/000
|
|
2013 |
2012 |
|
Cash flows from (used in) operating
activities, indirect method |
|
|
|
Profit (loss) from continuing operations
before tax |
16,508,020 |
13,427,958 |
|
Profit (loss) before tax |
16,508,020 |
13,427,958 |
|
Depreciation expense |
14,241,311 |
14,958,320 |
|
Amortization expense |
2,440,269 |
2,049,305 |
|
Provision (reversal of provision) for bad
debt expense |
182,216 |
270,219 |
|
Interest expense |
1,432,622 |
1,414,201 |
|
Interest income |
-448,607 |
-450,906 |
|
Dividend income |
-219,921 |
-207,151 |
|
Share of loss (profit) of associates and
joint ventures accounted for using equity method |
-4,197,698 |
-3,057,869 |
|
Loss (gain) on disposal of property, plan
and equipment |
1,356,800 |
1,105,548 |
|
Loss (gain) on disposal of investment
properties |
518 |
-1,075 |
|
Loss (gain) on disposal of intangible
assets |
1,912 |
604 |
|
Loss (gain) on disposal of investments
accounted for using equity method |
-538,642 |
-109,143 |
|
Impairment loss on financial assets |
214,451 |
202,860 |
|
Unrealized profit (loss) from sales |
-555 |
-556 |
|
Unrealized foreign exchange loss (gain) |
-87,999 |
4,876 |
|
Other adjustments to reconcile profit
(loss) |
18,802 |
63,995 |
|
Total adjustments to reconcile profit
(loss) |
14,395,479 |
16,243,228 |
|
Decrease (increase) in financial assets
held for trading |
-133,169 |
-103,648 |
|
Decrease (increase) in notes receivable |
820,686 |
4,006,539 |
|
Decrease (increase) in notes receivable
due from related parties |
-125,328 |
-47,322 |
|
Decrease (increase) in construction
contracts receivable |
77,900 |
20,559 |
|
Decrease (increase) in other receivable |
624,521 |
-874,428 |
|
Decrease (increase) in other receivable
due from related parties |
-31,630 |
-35,425 |
|
Decrease (increase) in inventories |
-2,567,852 |
2,327,854 |
|
Decrease (increase) in prepayments |
-974,120 |
-194,987 |
|
Decrease (increase) in other current
assets |
-664,976 |
418,308 |
|
Total changes in operating assets |
-2,973,968 |
5,517,450 |
|
Changes in operating liabilities |
|
|
|
Increase (decrease) in financial
liabilities held for trading |
-29 |
-4,089 |
|
Increase (decrease) in notes payable |
-1,801,179 |
-2,570,551 |
|
Increase (decrease) in notes payable to
related parties |
-30,712 |
-139,795 |
|
Increase (decrease) in construction
contracts receivable |
251,719 |
-344,162 |
|
Increase (decrease) in other payable |
1,274,408 |
1,523,968 |
|
Increase (decrease) in other payable to
related parties |
32,858 |
15,148 |
|
Increase (decrease) in provisions |
83,975 |
133,943 |
|
Increase (decrease) in receipts in advance |
92,030 |
-1,046,269 |
|
Increase (decrease) in other current
liabilities |
510,106 |
-624,517 |
|
Increase (decrease) in accrued pension
liabilities |
-498,747 |
-133,081 |
|
Increase (decrease) in other operating
liabilities |
24,697 |
-251,979 |
|
Total changes in operating liabilities |
-60,874 |
-3,441,384 |
|
Total changes in operating assets and
liabilities |
-3,034,842 |
2,076,066 |
|
Total adjustments |
11,360,637 |
18,319,294 |
|
Cash inflow (outflow) generated from
operations |
27,868,657 |
31,747,252 |
|
Interest received |
461,392 |
453,958 |
|
Dividends received |
2,368,646 |
3,199,261 |
|
Interest paid |
-1,398,487 |
-1,324,756 |
|
Income taxes refund (paid) |
-2,525,131 |
-1,715,997 |
|
Net cash flows from (used in) operating
activities |
26,775,077 |
32,359,718 |
|
Cash flows from (used in) investing
activities |
|
|
|
Acquisition of available-for-sale
financial assets |
-893,414 |
-254,280 |
|
Proceeds from disposal of
available-for-sale financial assets |
2,501,734 |
1,204,552 |
|
Proceeds from disposal of bond investments
without active market |
805,353 |
5,880,186 |
|
Proceeds from repayments of
held-to-maturity financial assets |
100,000 |
0 |
|
Acquisition of financial assets at cost |
-100,012 |
-126,000 |
|
Proceeds from disposal of financial assets
at cost |
117,256 |
980 |
|
Proceeds from capital reduction of
financial assets at cost |
33,693 |
0 |
|
Acquisition of investments accounted for
using equity method |
-568,919 |
-1,577,163 |
|
Proceeds from disposal of investments
accounted for using equity method |
854,693 |
0 |
|
Net cash flow from acquisition of
subsidiaries |
-42,758 |
0 |
|
Acquisition of property, plant and
equipment |
-24,988,218 |
-17,536,874 |
|
Proceeds from disposal of property, plant
and equipment |
106,151 |
236,663 |
|
Increase in refundable deposits |
2,389 |
-72,430 |
|
Increase in other receivables due from
related parties |
56,640 |
-163,754 |
|
Acquisition of intangible assets |
-1,532,655 |
-1,391,874 |
|
Proceeds from disposal of intangible
assets |
0 |
38 |
|
Acquisition of investment properties |
-1,550 |
-305,361 |
|
Proceeds from disposal of investment
properties |
0 |
21,045 |
|
Increase in long-term lease and
installment receivables |
-4,993,200 |
0 |
|
Increase in other financial assets |
-33,756,959 |
-501,599 |
|
Decrease in other financial assets |
2,399,103 |
-7,114,255 |
|
Decrease in other non-current assets |
60,240 |
-143,563 |
|
Net cash flows from (used in) investing
activities |
-59,840,433 |
-21,843,689 |
|
Cash flows from (used in) financing
activities |
|
|
|
Increase in short-term loans |
2,246,456 |
-2,187,992 |
|
Decrease in short-term notes and bills
payable |
-1,169,000 |
-4,479,000 |
|
Proceeds from issuing bonds |
32,776,500 |
16,400,000 |
|
Repayments of bonds |
-2,980,000 |
-1,899,000 |
|
Proceeds from long-term debt |
151,627,266 |
124,426,002 |
|
Repayments of long-term debt |
-141,160,125 |
-124,918,277 |
|
Increase in guarantee deposits received |
-161,769 |
6,054 |
|
Increase in other non-current liabilities |
-32,840 |
-95,095 |
|
Cash dividends paid |
-14,264,363 |
-14,929,534 |
|
Change in non-controlling interests |
2,188,047 |
8,633,494 |
|
Net cash flows from (used in) financing
activities |
29,070,172 |
956,652 |
|
Effect of exchange rate changes on cash
and cash equivalents |
-4,408 |
-133,176 |
|
Net increase (decrease) in cash and cash
equivalents |
-3,999,592 |
11,339,505 |
|
Cash and cash equivalents at beginning of
period |
30,645,166 |
19,305,661 |
|
Cash and cash equivalents at end of period |
26,645,574 |
30,645,166 |
|
Cash and cash equivalents reported in the
statement of financial position |
26,645,574 |
30,645,166 |
Note: The above financial information is that of after adopting IFRSs.
Subject declined
to disclose any information about bankers, and we can not obtain the
information from other source.
Mortgage
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
106462 |
|
Debtor Name: |
Far Eastern New Century Corporation |
|
Document Number: |
10130344210 |
|
Date of Registration: |
2012-9-4 |
Lawsuit
Up to date of reporting, no existing or latent litigation of the subject has been found.
|
Name |
Ms. Wang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.47 |
|
UK Pound |
1 |
Rs.100.35 |
|
Euro |
1 |
Rs.79.86 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
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.