|
Report No. : |
317027 |
|
Report Date : |
17.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
TON YI INDUSTRIAL CORP. |
|
|
|
|
Registered Office : |
837, Chung Cheng N. Rd., Yung Kang Dist., Tainan City 71042, Taiwan, R.O.C. |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
14.04.1969 |
|
|
|
|
Com. Reg. No.: |
73252657 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and Sales of Tin Cans. |
|
|
|
|
No. of Employees : |
About 1,200 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Taiwan |
A2 |
A1 |
|
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.
However, negotiations on follow-on components of ECFA, including an agreement
on trade in services, deals on trade in goods, and dispute resolution—have
stalled. In early 2014, the government bowed to public demand for a new law
governing the oversight of cross-Strait agreements, before any additional deals
with China are implemented; the legislature has yet to vote on such
legislation, leaving the future of ECFA up in the air as President MA enters
his final full year in office. MA has portrayed ECFA as Taiwan’s key to greater
participation in East Asia’s free trade networks. 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 expected to account for 20% of the island's total population by 2025. The
island runs a trade surplus, largely because of its surplus with China, and its
foreign reserves are the world's fourth largest, behind those of China, Japan,
and Russia. 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, the
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
has helped Taiwan develop into a local RMB hub. Closer economic links with the
mainland bring greater opportunities for the Taiwan economy, but also pose new
challenges as the island becomes more economically dependent on China at a time
when political differences remain unresolved. During 2014, the press paid
increasing attention to domestic economic issues while pushing aside the
debates over trade liberalization that were a hallmark of MA’s tenure. The
media focused on the divide between Taiwan’s “haves” and “have nots,” providing
extensive coverage of public frustration with stagnant wages, skyrocketing
housing prices, and the difficulty of finding entry-level jobs.
|
Source
: CIA |
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
837, Chung Cheng
N. Rd., Yung Kang Dist., Tainan City 71042, Taiwan, R.O.C. |
|
Supplied Address: |
837 Chung Cheng
N Rd. Niao Sung Tsun Yung Kang City Tainan Hsien |
|
Telephone Number: |
+886-6-253-1131 |
|
Fax Number: |
|
|
E-mail: |
|
|
Website: |
Notes: The exact name and address are as above.
Subject was incorporated
on 1969-04-14 with registered number 73252657
as Joint Stock Company in Taiwan.
Subject listed on Taiwan Stock Exchange on 1991-1-29.
Factories
|
1 |
|
|
Name: |
The First Factory |
|
Address: |
No. 837, Chung Cheng N. Rd., Niao
Sung Tsun Yung Kang Dist., Tainan City 71042, Taiwan, R.O.C. |
|
Date of Foundation: |
1970-04-01 |
|
Date of Registration: |
1970-04-01 |
|
Factory Registration Number: |
99657360 |
|
Factory Manager: |
Xiaosi Shen |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2001-12-27 |
|
Major Products: |
253 Metal Container 254 Metal Processing Treatment 220 Plastic Products |
|
2 |
|
|
Name: |
The Second Factory |
|
Address: |
No. 77, Heping Rd., Niao Sung
Tsun Yung Kang Dist., Tainan City 71042, Taiwan, R.O.C. |
|
Date of Foundation: |
1994-03-01 |
|
Date of Registration: |
1996-09-16 |
|
Factory Registration Number: |
99657348 |
|
Factory Manager: |
Youxin Zhang |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2001-12-27 |
|
Major Products: |
254 Metal Processing Treatment |
|
3 |
|
|
Name: |
The Third Factory |
|
Address: |
No.113, 5th N. Rd., Niao
Sung Tsun Yung Kang Dist., Tainan City 71042, Taiwan, R.O.C. |
|
Date of Foundation: |
1997-12-12 |
|
Date of Registration: |
1998-08-31 |
|
Factory Registration Number: |
99657327 |
|
Factory Manager: |
Youxun Zhang |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2001-12-26 |
|
Major Products: |
254 Metal Processing Treatment |
|
4 |
|
|
Name: |
The Fourth Factory |
|
Address: |
No. 78, Heping Rd., Niao Sung
Tsun Yung Kang Dist., Tainan City 71042, Taiwan, R.O.C. |
|
Date of Foundation: |
2000-01-21 |
|
Date of Registration: |
2001-05-11 |
|
Factory Registration Number: |
99656249 |
|
Factory Manager: |
Youxin Zhang |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2001-12-26 |
|
Major Products: |
259 Other Metal Products |
Related Companies
|
1 |
|
|
Name |
Tovecan Corporation Ltd., |
|
Address |
Lot A60/I-A61/II, No.7 Street, Vinh Loc Industrial Park, Binh Hung Hoa
B Ward, Binh Tan District, Hochiminh City, Vietnam |
|
Telephone Number |
+84-8-3765-5214 |
|
Fax Number |
+84-8-3765-5211 |
|
Email |
|
|
2 |
|
|
Name |
Chengdu Ton Yi Industrial Packing Co., Ltd. |
|
Address |
East Section South 2nd Road, Xindu Industrial Zone Of
Chengdu Satellite-Down, China |
|
Telephone Number |
+86-28-8396-6885 |
|
Fax Number |
+86-28-8396-5400 |
|
Email |
|
|
3 |
|
|
Name |
Wuxi Ton Yi Industrial Packing Co., Ltd. |
|
Address |
Tai Shan Road No.3, New Zone, Wuxi, Jiangsu, China |
|
Telephone Number |
+86-510-8521-4650 |
|
Fax Number |
+86-510-8521-6264 |
|
Email |
|
|
4 |
|
|
Name |
Jiangsu Ton Yi Tinplate Co., Ltd. |
|
Address |
Tai Shan Road No.1, New Development Zone, Wuxi City, Jiangsu Province,
China |
|
Telephone Number |
+86-510-8521-5096 |
|
Fax Number |
+86-510-8521-0124 |
|
Email |
|
|
5 |
|
|
Name |
Fujian Ton Yi Tinplate Co., Ltd. |
|
Address |
Nanbei No.2 Road Jiaomei Industry General Developing District, Longhai
City, Fujian Province, China |
|
Telephone Number |
+86-596-676-6266 |
|
Fax Number |
+86-596-676-5292 |
|
Email |
|
|
6 |
|
|
Name |
Zhangzhou Ton Yi Industrial Co., Ltd. |
|
Address |
Fengshan Industrial Park, Zhangzhou Taiwanese Investment Zone, Fujian
Province, China |
|
Telephone Number |
+86-596-676-6266 |
|
Fax Number |
+86-596-676-6867 |
|
Email |
|
Major Shareholders
|
Name |
Subscription Shares |
|
Uni-President Enterprises Corp. |
|
|
719,357,425 |
|
|
Gaoquan Investment Co., Ltd (Literal Translation) |
23,333,700 |
|
Xiangju Liang |
5,920,028 |
|
Guogeng Chen |
6,369,222 |
Shareholders’ Information:
|
1 |
|
|
Registered Name: |
Uni-President Enterprises Corp. |
|
Registered Address: |
No. 301, Zhongzheng Rd., Yongkang Dist.,
Tainan City 71001, Taiwan (R.O.C.) |
|
Date of Foundation: |
1967-08-25 |
|
Registration Number: |
73251209 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 60,000,000,000 (USD 1,920,000,000) (As of 2015.4, 1 NTD = 0.032 USD) |
|
Paid-up Capital: |
NTD 54,634,763,660 (USD 1,748,312,437) |
|
Legal Representatives: |
Zhixian Luo |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2014-11-20 |
|
2 |
|
|
Registered Name: |
Gaoquan Investment Co., Ltd (Literal Translation) |
|
Registered Address: |
No. 3 148 Lane, 2nd Daqiao
Street, Daqiao Village, Yongkang Dist., Tainan City 71001, Taiwan (R.O.C.) |
|
Date of Foundation: |
1986-12-10 |
|
Registration Number: |
22267853 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 842,500,000 (USD 26,960,000) (As of 2015.4, 1 NTD = 0.032 USD) |
|
Paid-up Capital: |
NTD 842,500,000 (USD 26,960,000) |
|
Legal Representatives: |
Xiuling Gao |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2014-03-13 |
Core Management
Directors
|
1 |
||
|
Name |
Zhixian Luo |
|
|
Position |
Chairman of the Board |
|
|
2 |
||
|
Name |
Qingyuan Gao |
|
|
Position |
Director |
|
|
3 |
||
|
Name |
Cangsheng Lin |
|
|
Position |
Director |
|
|
4 |
||
|
Name |
Longyi Lin |
|
|
Position |
Director |
|
|
5 |
||
|
Name |
Xiuling Gao |
|
|
Position |
Director |
|
|
6 |
||
|
Name |
Xiangju Liang |
|
|
Position |
Director |
|
|
7 |
||
|
Name |
Guogeng Chen |
|
|
Position |
Director |
|
|
8 |
||
|
Name |
Minglong Wang |
|
|
Position |
Independent Director |
|
|
9 |
||
|
Name |
Jincheng Jian |
|
|
Position |
Independent Director |
|
|
10 |
||
|
Name |
Bingen Wu |
|
|
Position |
Independent Director |
|
|
11 |
||
|
Name |
Zhizhong Chen |
|
|
Position |
Manager |
|
|
Date of Appointment |
2004-07-01 |
|
|
12 |
||
|
Name |
Fengfu Chen |
|
|
Position |
Manager |
|
|
Date of Appointment |
2005-07-30 |
|
Personnel Structure
|
Total Employees |
About 1,200 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
No.837, Chung
Cheng N. Rd., Yongkang Dist., Tainan City 710, Taiwan (R.O.C.) |
Production Information
Subject is engaged in manufacturing of tin cans.
Subject has factories in Taiwan for production.
It is introduced that subject also has factories in the Mainland of
China and Vietnam for production.
From public files, we found some information of the subject’s factories
as follows for your reference:
|
Plant |
Product |
Production Capacity |
Certification |
|
Tainan Ton Yi |
Tinplate |
300,000 MT |
JIS, ISO 9001, ISO 14001, OHSAS 18001 |
|
Jiangsu Ton Yi |
Electrolytic tinning |
160,000 MT |
ISO 9001, ISO 14001, JIS G3303 |
|
Fujian Ton Yi |
Electrolytic tinning |
160,000 MT |
JIS G3303 ISO 9001 |
|
TFS |
100,000 MT |
||
|
Zhangzhou Ton Yi |
PET cap |
-- |
-- |
|
Chengdu Ton Yi |
Can |
400 million |
ISO 9001 |
|
Printed tinplate |
42 million pieces |
||
|
Wuxi Ton Yi |
Can |
400 million |
ISO 9001 |
|
Printed tinplate |
84 million pieces |
||
|
Tovecan |
Can |
120 million |
ISO 9001 |
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Processing, manufacturing, domestic sales and export of various iron sheet,
printing can, and its material. |
|
-- |
Processing and Manufacturing of plating steel sheet, raw material and
steel sheet. |
|
-- |
Import and export & sales of can and tinplate. |
|
-- |
Providing the processing and manufacturing technology for Tinplate can, plating steel sheet and raw material. |
|
F199990 |
Other Wholesaling(Iron Oxide, Fatty Acid, Tin Product, Tin Oxide) |
|
ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
The components and raw material for production are both purchased home
and abroad.
It is introduced that subject imports some technology from Japan.
Subject is engaged in sale of tin cans.
The major products of the subject are tin mill black plate & cold rolled
coils, tinplates and TFS, tin cans, some pet products and so on.
It is introduced that subject’s tin-cans are applied for containing food
or beverages.
Subject’s sales regions include domestic market, Japan, Korea, Southeast
Asia, America, Australia, etc.
The general delivery lead time of subject is about days.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Raw materials |
|
Payment Terms |
T/T, Cash |
Import
|
Products |
Raw materials |
|
Payment Terms |
L/C, T/T |
Domestic Markets
|
Product |
Tin cans |
|
Selling Terms |
T/T, Cash |
Export
|
Product |
Tin cans |
|
Selling Terms |
L/C, T/T |
Unit: NTD/000
|
Consolidated |
2014-12-31 |
2013-12-31 |
|
Assets |
|
|
|
Current assets |
|
|
|
Cash and cash equivalents |
|
|
|
Total cash and cash equivalents |
1,571,903 |
804,825 |
|
Current financial assets at fair value through profit or loss |
|
|
|
Total current financial assets at fair value through profit or loss |
0 |
43 |
|
Notes receivable, net |
|
|
|
Notes receivable, net |
1,255,436 |
1,067,488 |
|
Accounts receivable, net |
|
|
|
Accounts receivable, net |
2,041,830 |
2,082,063 |
|
Accounts receivable due from related parties, net |
|
|
|
Accounts receivable due from related parties, net |
689,692 |
881,955 |
|
Other receivables |
|
|
|
Other receivables, net |
143,211 |
178,314 |
|
Current tax assets |
|
|
|
Total current tax assets |
35,848 |
12,673 |
|
Inventories |
|
|
|
Total inventories |
5,053,426 |
4,925,065 |
|
Prepayments |
|
|
|
Total prepayments |
1,778,101 |
1,616,709 |
|
Non-current assets classified as held for sale, net |
|
|
|
Non-current assets classified as held for sale, net |
39,928 |
314,126 |
|
Other current assets |
|
|
|
Other current financial assets |
53,979 |
5,971 |
|
Total other current assets |
53,979 |
5,971 |
|
Total current assets |
12,663,354 |
11,889,232 |
|
Non-current assets |
|
|
|
Non-current available-for-sale financial assets |
|
|
|
Non-current available-for-sale financial assets, net |
178,340 |
177,579 |
|
Non-current financial assets at cost |
|
|
|
Non-current financial assets at cost, net |
501,050 |
501,050 |
|
Property, plant and equipment |
|
|
|
Total property, plant and equipment |
35,344,195 |
32,446,044 |
|
Investment property, net |
|
|
|
Investment property, net |
167,463 |
10,561 |
|
Intangible assets |
|
|
|
Total intangible assets |
488,186 |
497,753 |
|
Deferred tax assets |
356,162 |
232,735 |
|
Other non-current assets |
|
|
|
Prepayments for business facilities |
907 |
164,799 |
|
Guarantee deposits paid |
53,530 |
117,203 |
|
Long-term prepaid rents |
499,142 |
333,726 |
|
Other non-current assets, others |
|
|
|
Total other non-current assets, others |
76,490 |
82,980 |
|
Total other non-current assets |
630,069 |
698,708 |
|
Total non-current assets |
37,665,465 |
34,564,430 |
|
Total assets |
50,328,819 |
46,453,662 |
|
Liabilities |
|
|
|
Current liabilities |
|
|
|
Short-term borrowings |
|
|
|
Total short-term borrowings |
4,102,556 |
4,199,647 |
|
Short-term notes and bills payable |
|
|
|
Total short-term notes and bills payable |
99,942 |
0 |
|
Notes payable |
|
|
|
Total notes payable |
19,571 |
22,974 |
|
Accounts payable |
|
|
|
Total accounts payable |
601,615 |
1,286,624 |
|
Accounts payable to related parties |
|
|
|
Total accounts payable to related parties |
172,561 |
209,283 |
|
Other payables |
|
|
|
Total other payables |
1,637,040 |
1,306,295 |
|
Other payables to related parties |
1,282,736 |
0 |
|
Current tax liabilities |
71,440 |
216,132 |
|
Liabilities related to non-current assets classified as held for sale |
0 |
371 |
|
Other current liabilities |
|
|
|
Other current financial liabilities |
16,437 |
4,762 |
|
Advance receipts |
|
|
|
Total advance receipts |
157,810 |
159,912 |
|
Long-term liabilities, current portion |
|
|
|
Total long-term liabilities, current portion |
4,737,529 |
3,829,209 |
|
Total other current liabilities |
4,911,776 |
3,993,883 |
|
Total current liabilities |
12,899,237 |
11,235,209 |
|
Non-current liabilities |
|
|
|
Long-term borrowings |
|
|
|
Total long-term borrowings |
16,026,489 |
13,877,451 |
|
Non-current provisions |
|
|
|
Total non-current provisions |
72,639 |
71,302 |
|
Deferred tax liabilities |
|
|
|
Total deferred tax liabilities |
272,344 |
220,324 |
|
Other non-current liabilities |
|
|
|
Long-term deferred revenue |
48,848 |
0 |
|
Accrued pension liabilities |
390,035 |
435,778 |
|
Guarantee deposits received |
10,180 |
15,787 |
|
Total other non-current liabilities |
449,063 |
451,565 |
|
Total non-current liabilities |
16,820,535 |
14,620,642 |
|
Total liabilities |
29,719,772 |
25,855,851 |
|
Equity |
|
|
|
Equity attributable to owners of parent |
|
|
|
Share capital |
|
|
|
Ordinary share |
15,791,453 |
15,791,453 |
|
Total capital stock |
15,791,453 |
15,791,453 |
|
Capital surplus |
|
|
|
Capital surplus, additional paid-in capital |
|
|
|
Total capital surplus, additional paid-in capital |
58,271 |
58,271 |
|
Capital surplus, treasury share transactions |
169,088 |
169,088 |
|
Capital surplus, donated assets received |
|
|
|
Total capital surplus, donated assets received |
819 |
819 |
|
Total capital surplus |
228,178 |
228,178 |
|
Retained earnings |
|
|
|
Legal reserve |
1,303,221 |
1,183,966 |
|
Special reserve |
826,453 |
826,453 |
|
Unappropriated retained earnings (accumulated deficit) |
|
|
|
Total unappropriated retained earnings (accumulated deficit) |
811,964 |
1,192,555 |
|
Total retained earnings |
2,941,638 |
3,202,974 |
|
Other equity interest |
|
|
|
Exchange differences on translation of foreign financial statements |
|
|
|
Total exchange differences on translation of foreign financial
statements |
673,800 |
427,350 |
|
Unrealized gains (losses) on available-for-sale financial assets |
|
|
|
Total unrealized gains (losses) on available-for-sale financial assets |
-200,577 |
-201,338 |
|
Total other equity interest |
473,223 |
226,012 |
|
Total equity attributable to owners of parent |
19,434,492 |
19,448,617 |
|
Non-controlling interests |
1,174,555 |
1,149,194 |
|
Total equity |
20,609,047 |
20,597,811 |
|
Number of share capital awaiting retirement |
0 |
0 |
|
Equivalent issue shares of advance receipts for ordinary share |
0 |
0 |
|
Number of shares in entity held by entity and by its subsidiaries |
0 |
0 |
Unit: NTD/000
|
Consolidated |
2014 |
2013 |
|
Operating revenue |
|
|
|
Total operating revenue |
36,437,962 |
33,192,553 |
|
Operating costs |
|
|
|
Total operating costs |
32,692,192 |
29,364,494 |
|
Gross profit (loss) from operations |
3,745,770 |
3,828,059 |
|
Gross profit (loss) from operations |
3,745,770 |
3,828,059 |
|
Operating expenses |
|
|
|
Selling expenses |
|
|
|
Total selling expenses |
1,367,148 |
1,270,476 |
|
Administrative expenses |
|
|
|
Total administrative expenses |
1,075,864 |
949,039 |
|
Total operating expenses |
2,443,012 |
2,219,515 |
|
Net operating income (loss) |
1,302,758 |
1,608,544 |
|
Non-operating income and expenses |
|
|
|
Other income |
|
|
|
Total other income |
135,091 |
132,604 |
|
Other gains and losses |
|
|
|
Other gains and losses, net |
66,948 |
295,240 |
|
Finance costs |
|
|
|
Finance costs, net |
516,436 |
415,275 |
|
Total non-operating income and expenses |
-314,397 |
12,569 |
|
Profit (loss) from continuing operations before tax |
988,361 |
1,621,113 |
|
Tax expense (income) |
|
|
|
Total tax expense (income) |
225,653 |
309,779 |
|
Profit (loss) from continuing operations |
762,708 |
1,311,334 |
|
Profit (loss) |
762,708 |
1,311,334 |
|
Other comprehensive income |
|
|
|
Exchange differences on translation |
289,323 |
655,811 |
|
Unrealised gains (losses) on valuation of available-for-sale financial
assets |
761 |
42,851 |
|
Actuarial gains (losses) on defined benefit plans |
-13,074 |
-3,120 |
|
Income tax related to components of other comprehensive income |
-1,324 |
-1,438 |
|
Other comprehensive income, net |
278,334 |
696,980 |
|
Total comprehensive income |
1,041,042 |
2,008,314 |
|
Profit (loss), attributable to: |
|
|
|
Profit (loss), attributable to owners of parent |
775,960 |
1,256,122 |
|
Profit (loss), attributable to non-controlling interests |
-13,252 |
55,212 |
|
Comprehensive income attributable to: |
|
|
|
Comprehensive income, attributable to owners of parent |
1,012,319 |
1,888,272 |
|
Comprehensive income, attributable to non-controlling interests |
28,723 |
120,042 |
|
Basic earnings per share |
|
|
|
Basic earnings (loss) per share from continuing operations |
0.49 |
0.80 |
|
Total basic earnings per share |
0.49 |
0.80 |
|
Diluted earnings per share |
|
|
|
Diluted earnings (loss) per share from continuing operations |
0.49 |
0.79 |
|
Total diluted earnings per share |
0.49 |
0.79 |
Unit: NTD/000
|
Consolidated |
2014 |
2013 |
|
Cash flows from (used in) operating activities, indirect method |
|
|
|
Profit (loss) from continuing operations before tax |
988,361 |
1,621,113 |
|
Profit (loss) before tax |
988,361 |
1,621,113 |
|
Adjustments |
|
|
|
Adjustments to reconcile profit (loss) |
|
|
|
Depreciation expense |
2,488,351 |
2,075,999 |
|
Amortization expense |
46,275 |
41,393 |
|
Provision (reversal of provision) for bad debt expense |
-17,319 |
19,760 |
|
Net loss (gain) on financial assets or liabilities at fair value
through profit or loss |
43 |
-43 |
|
Interest expense |
516,436 |
415,275 |
|
Interest income |
-26,625 |
-19,674 |
|
Dividend income |
-2,380 |
-2,811 |
|
Loss (gain) on disposal of property, plan and equipment |
15,819 |
45,148 |
|
Property, plan and equipment transferred to expenses |
0 |
300 |
|
Loss (gain) on disposal of investment properties |
-632 |
0 |
|
Loss (gain) on disposal of investments |
0 |
0 |
|
Unrealized foreign exchange loss (gain) |
0 |
-933 |
|
Other adjustments to reconcile profit (loss) |
42,475 |
-45,637 |
|
Total adjustments to reconcile profit (loss) |
3,062,443 |
2,528,777 |
|
Changes in operating assets and liabilities |
|
|
|
Changes in operating assets |
|
|
|
Decrease (increase) in notes receivable |
-185,818 |
25,862 |
|
Decrease (increase) in accounts receivable |
52,429 |
-363,361 |
|
Decrease (increase) in accounts receivable due from related parties |
192,263 |
-298,608 |
|
Decrease (increase) in other receivable |
35,103 |
-54,325 |
|
Decrease (increase) in inventories |
-161,671 |
-59,016 |
|
Decrease (increase) in prepayments |
-161,392 |
-982,530 |
|
Total changes in operating assets |
-229,086 |
-1,731,978 |
|
Changes in operating liabilities |
|
|
|
Increase (decrease) in notes payable |
-3,403 |
-4,061 |
|
Increase (decrease) in accounts payable |
-685,009 |
436,637 |
|
Increase (decrease) in accounts payable to related parties |
-36,722 |
177,678 |
|
Increase (decrease) in other payable |
2,166 |
572,428 |
|
Increase (decrease) in other payable to related parties |
51,113 |
0 |
|
Increase (decrease) in receipts in advance |
-2,102 |
105,726 |
|
Increase (decrease) in accrued pension liabilities |
-58,817 |
-49,850 |
|
Increase (decrease) in other operating liabilities |
48,848 |
0 |
|
Total changes in operating liabilities |
-683,926 |
1,238,558 |
|
Total changes in operating assets and liabilities |
-913,012 |
-493,420 |
|
Total adjustments |
2,149,431 |
2,035,357 |
|
Cash inflow (outflow) generated from operations |
3,137,792 |
3,656,470 |
|
Interest received |
26,625 |
19,674 |
|
Dividends received |
2,380 |
2,811 |
|
Interest paid |
-515,293 |
-443,337 |
|
Income taxes refund (paid) |
-447,063 |
-193,333 |
|
Net cash flows from (used in) operating activities |
2,204,441 |
3,042,285 |
|
Cash flows from (used in) investing activities |
|
|
|
Proceeds from disposal of available-for-sale financial assets |
0 |
0 |
|
Proceeds from disposal of non-current assets classified as held for
sale |
14,424 |
0 |
|
Acquisition of property, plant and equipment |
-2,870,694 |
-5,608,018 |
|
Proceeds from disposal of property, plant and equipment |
21,093 |
44,015 |
|
Acquisition of intangible assets |
-14,489 |
-85,401 |
|
Acquisition of investment properties |
-7,409 |
0 |
|
Proceeds from disposal of investment properties |
1,094 |
0 |
|
Increase in other financial assets |
15,665 |
-96,893 |
|
Increase in other non-current assets |
-160,267 |
-116,088 |
|
Increase in prepayments for business facilities |
-385,770 |
-2,147,062 |
|
Other investing activities |
0 |
0 |
|
Net cash flows from (used in) investing activities |
-3,386,353 |
-8,009,447 |
|
Cash flows from (used in) financing activities |
|
|
|
Increase in short-term loans |
-97,091 |
1,011,616 |
|
Increase in short-term notes and bills payable |
99,942 |
0 |
|
Proceeds from long-term debt |
20,173,162 |
10,182,646 |
|
Repayments of long-term debt |
-17,666,534 |
-6,852,273 |
|
Increase in other financial liabilities |
6,068 |
6,463 |
|
Cash dividends paid |
-1,026,444 |
-236,872 |
|
Change in non-controlling interests |
-3,362 |
0 |
|
Net cash flows from (used in) financing activities |
1,485,741 |
4,111,580 |
|
Effect of exchange rate changes on cash and cash equivalents |
463,249 |
-362,037 |
|
Net increase (decrease) in cash and cash equivalents |
767,078 |
-1,217,619 |
|
Cash and cash equivalents at beginning of period |
804,825 |
2,022,444 |
|
Cash and cash equivalents at end of period |
1,571,903 |
804,825 |
|
Cash and cash equivalents reported in the statement of financial
position |
1,571,903 |
804,825 |
Note: Subject didn’t submit its individual financial information; we
obtained its consolidated financials as above for reference.
The above
financial figures are based on the IFRSs Accounting System.
Subject declined to disclose its bank details; from other source we
could not 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.
Interview Details
|
Name |
Ms. Zeng |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.37 |
|
|
1 |
Rs.92.44 |
|
Euro |
1 |
Rs.66.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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.