|
Report No. : |
320312 |
|
Report Date : |
30.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
TAIWAN PROSPERITY CHEMICAL CORPORATION |
|
|
|
|
Registered Office : |
9Fl., No.113, Sec. 2, Chung-Shan N. Rd.,
Taipei 104 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
28.05.1991 |
|
|
|
|
Com. Reg. No.: |
86120031 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and Sale of Chemicals. |
|
|
|
|
No of Employees : |
About 200 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
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 |
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 |
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
9Fl., No.113,
Sec. 2, Chung-Shan N. Rd., Taipei 104, Taiwan, R.O.C. |
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-2563-3228 |
|
Fax Number: |
|
|
Website: |
Notes: The exact name and address are as above.
Subject was incorporated
on 1991-5-28 with registered number 86120031
as Joint Stock Company in Taiwan.
Subject was listed on Taiwan Stock Exchange on 2007-10-2.
Factory
|
Name: |
Linyuan Plant |
|
Address: |
Linyuan Industrial Zone, Linyuan Township, Kaohsiung County, Taiwan |
|
Date of Foundation: |
1992-8-25 |
|
Date of Registration: |
1995-10-16 |
|
Factory Registration Number: |
99661829 |
|
Factory Manager: |
Qingyuan Lai |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2013-8-19 |
|
Major Products: |
182 Petrochemical materials |
|
Principal Activity |
Subject has 6 plants on the address above for manufacturing of cumene,
acetone, bisphenol, cyclohexanone and marin anhydride. |
Major Shareholders
|
Name |
Subscription Shares |
|
Taiwan Cement Corporation |
145,987,998 |
|
Renhe Jiao |
|
|
9,000 |
Shareholder Information:
|
Registered Name: |
Taiwan Cement Corporation |
|
Registered Address: |
No.113, Sec.2, Chung Shan N. Rd., Taipei City, Taiwan, R.O.C. |
|
Date of Foundation: |
1950-12-29 |
|
Registration Number: |
11913502 |
|
Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C. |
|
Registered Capital: |
NTD 40,073,866,000 (USD 1,294,385,872) (As of 2014.11, 1 NTD = 0.0323 USD) |
|
Paid-up Capital: |
NTD 36,921,758,690 (USD 1,192,572,806) |
|
Legal Representatives: |
Chengyun Gu |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
Yes; Stock Code: 1101 |
|
Date of Last Annual Return: |
2013-7-8 |
|
Telephone Number: |
+886-2-2531-6533 |
|
Fax Number: |
+886-2-2531-6529 |
Core Management
Directors
|
1 |
|
|
Name |
Chengyun Gu |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Anping Zhang |
|
Position |
Director |
|
3 |
|
|
Name |
Boyuan Wang |
|
Position |
Director |
|
4 |
|
|
Name |
Fulong Chen |
|
Position |
Director |
|
5 |
|
|
Name |
Renhe Jiao |
|
Position |
Independent Director |
|
6 |
|
|
Name |
Zhiren Sheng |
|
Position |
Independent Director |
|
7 |
|
|
Name |
Zinan Jia |
|
Position |
Independent Director |
|
8 |
|
|
Name |
Tianfu Zhao |
|
Position |
Manager |
|
Dare of Appointment |
2012-4-2 |
Personnel
Structure
|
Total Employees |
About 200 Employees |
|
|
Headquarters |
|
Add |
9Fl., No.113, Sec. 2, Chung-Shan N. Rd., Taipei 104, Taiwan, R.O.C. |
Production
Information
· Subject is engaged in manufacturing of chemicals, etc.
· Subject has six plants (total area is about 13 hectare) in Linyuan Township, Kaohsiung County, Taiwan for production.
· Subject obtained the certification of ISO 9002 and ISO 14001.
Purchase
Information
· The registered activities of subject:
|
Business Code |
Details |
|
C801020 |
Manufacture of petrochemical materials |
|
F107200 |
Wholesales of chemical materials |
|
F107990 |
Wholesales of other chemical products |
|
F207200 |
Retails of chemical materials |
|
F207990 |
Retails of other chemical products |
|
ZZ99999 |
Besides licensed business, all other business items those are not banned
or restricted. |
· The raw materials for production are purchased from domestic market and other Asian countries.
· The subject is mainly engaged in sale of chemicals.
· Subject’s major products include cumene, acetone, bisphenol, cyclohexanone, Marin anhydride, etc.
· The products are applied to manufacturing of fibers, engineering plastics, industrial solvents, and auto-materials, etc.
· Subject’s sales regions include Taiwan, Mainland China, Japan, South Korea, other Asian countries, Australia, USA, etc.
· It is introduced that subject has a proportion of 50% for export.
· Subject’s major customers are ICC Chemical Corporation, Basf Chile S.A., Micro Inks Ltd., China Petroleum & Chemical, Kaohsiung Monomer Company Ltd, and Chimei Asahi Corporation, etc.
· Subject’s major competitors in Taiwan are Formosa Chemicals & Fibre Corporation and Chang Chung Group.
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 |
SALES
Domestic Markets
|
Product |
Chemicals |
|
Selling Terms |
T/T, Cash |
Export
|
Product |
Chemicals |
|
Selling Terms |
L/C, T/T |
Unit: NTD/000
|
|
2012-12-31* |
2011-12-31* |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
441,196.00 |
715,789.00 |
|
Financial assets measured at fair value through profit or loss -
current |
816.00 |
2,254,886.00 |
|
Available-for-sale financial assets - current |
634,827.00 |
529,683.00 |
|
Accounts receivable - net |
3,025,001.00 |
1,966,792.00 |
|
Other receivables |
50,482.00 |
59,374.00 |
|
Inventories |
1,226,709.00 |
918,549.00 |
|
Other prepayments |
113,458.00 |
164,967.00 |
|
Other current assets |
46,681.00 |
125,061.00 |
|
Current assets |
5,539,170.00 |
6,735,101.00 |
|
Funds and Investments |
|
|
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
896,825.00 |
896,825.00 |
|
Buildings and structures |
135,703.00 |
133,901.00 |
|
Machinery and equipment |
13,942,409.00 |
13,568,472.00 |
|
Leased assets |
313,387.00 |
287,521.00 |
|
Other facilities |
218,995.00 |
205,178.00 |
|
Fixed assets cost |
15,507,319.00 |
15,091,897.00 |
|
Accumulated depreciation |
-9,603,597.00 |
-8,770,412.00 |
|
Accumulated impairment - fixed assets |
-12,108.00 |
-13,315.00 |
|
Construction in process and prepayment for equipments |
633,157.00 |
707,616.00 |
|
Fixed assets |
6,524,771.00 |
7,015,786.00 |
|
Intangible Assets |
|
|
|
Other Assets |
|
|
|
Guarantee deposits paid |
62,301.00 |
62,601.00 |
|
Deferred charges |
214,789.00 |
279,308.00 |
|
Deferred income tax assets - non current |
72,311.00 |
27,392.00 |
|
Other assets - other |
55,481.00 |
14,459.00 |
|
Other assets |
404,882.00 |
383,760.00 |
|
Assets |
12,468,823.00 |
14,134,647.00 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowings |
1,075,980.00 |
935,655.00 |
|
Financial liabilities measured at fair value through profit or loss -
current |
0.00 |
902.00 |
|
Accounts payable |
1,827,972.00 |
797,300.00 |
|
Income tax payable |
0.00 |
232,339.00 |
|
Accrued expenses |
212,909.00 |
284,699.00 |
|
Other payables - related parties |
49,765.00 |
36,636.00 |
|
Other payables |
66,578.00 |
24,110.00 |
|
Long-term liabilities - current portion |
1,903,200.00 |
878,400.00 |
|
Other current liabilities |
39,798.00 |
43,996.00 |
|
Current liabilities |
5,176,202.00 |
3,234,037.00 |
|
Long term Liabilities |
|
|
|
Long-term borrowings |
200,000.00 |
1,903,200.00 |
|
Long-term notes and accounts payable |
72,754.00 |
109,327.00 |
|
Long-term notes and accounts payable - related parties |
39,576.00 |
39,576.00 |
|
Long-term liabilities |
312,330.00 |
2,052,103.00 |
|
Reserves |
|
|
|
Other Liabilities |
|
|
|
Pension reserve / accrued pension liability |
102,535.00 |
123,418.00 |
|
Guarantee deposits received |
16,283.00 |
16,229.00 |
|
Other liabilities |
118,818.00 |
139,647.00 |
|
Liabilities |
5,607,350.00 |
5,425,787.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
2,919,750.00 |
2,919,750.00 |
|
Capital Surplus |
|
|
|
Capital surplus - additional paid-in capital |
690,000.00 |
690,000.00 |
|
Capital surplus |
690,000.00 |
690,000.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
1,287,784.00 |
1,054,257.00 |
|
Special reserve |
283,054.00 |
0.00 |
|
Unappropriated retained earnings |
1,858,795.00 |
4,327,907.00 |
|
Retained earnings |
3,429,633.00 |
5,382,164.00 |
|
Stockholders' Equity and Other adjustment |
|
|
|
Unrealized gains (losses) on financial instruments |
-177,910.00 |
-283,054.00 |
|
Equity adjustments |
-177,910.00 |
-283,054.00 |
|
Stockholders - equity |
6,861,473.00 |
8,708,860.00 |
|
Number of treasury stock acquired by the company and subsidiaries (unit:
share) |
0.00 |
0.00 |
|
|
0.00 |
0.00 |
|
|
2013-12-31# |
|
Assets |
|
|
Current assets |
|
|
Cash and cash equivalents |
|
|
Total cash and cash equivalents |
848,254.00 |
|
Current financial assets at fair value through profit or loss |
|
|
Total current financial assets at fair value through profit or loss |
0.00 |
|
Current available-for-sale financial assets |
|
|
Current available-for-sale financial assets, net |
876,950.00 |
|
Accounts receivable, net |
|
|
Accounts receivable, net |
2,565,944.00 |
|
Other receivables |
|
|
Other receivables, net |
51,410.00 |
|
Inventories |
|
|
Total inventories |
1,274,401.00 |
|
Prepayments |
|
|
Total prepayments |
79,317.00 |
|
Other current assets |
|
|
Total other current assets |
28,144.00 |
|
Total current assets |
5,724,420.00 |
|
Non-current assets |
|
|
Property, plant and equipment |
|
|
Total property, plant and equipment |
5,276,824.00 |
|
Deferred tax assets |
193,988.00 |
|
Other non-current assets |
|
|
Other non-current assets, others |
|
|
Total other non-current assets, others |
3,882,859.00 |
|
Total other non-current assets |
3,882,859.00 |
|
Total non-current assets |
9,353,671.00 |
|
Total assets |
15,078,091.00 |
|
Liabilities |
|
|
Current liabilities |
|
|
Short-term borrowings |
|
|
Total short-term borrowings |
1,608,130.00 |
|
Short-term notes and bills payable |
|
|
Total short-term notes and bills payable |
499,018.00 |
|
Current financial liabilities at fair value through profit or loss |
|
|
Total current financial liabilities at fair value through profit or
loss |
0.00 |
|
Accounts payable |
|
|
Total accounts payable |
1,761,354.00 |
|
Other payables |
|
|
Total other payables |
671,397.00 |
|
Current tax liabilities |
0.00 |
|
Other current liabilities |
|
|
Long-term liabilities, current portion |
|
|
Long-term borrowings, current portion |
0.00 |
|
Total long-term liabilities, current portion |
0.00 |
|
Other current liabilities, others |
28,833.00 |
|
Total other current liabilities |
28,833.00 |
|
Total current liabilities |
4,568,732.00 |
|
Non-current liabilities |
|
|
Long-term borrowings |
|
|
Total long-term borrowings |
1,450,000.00 |
|
Other non-current liabilities |
|
|
Long-term notes and accounts payable to related parties |
|
|
Long-term lease obligations payable to related parties |
2,570,360.00 |
|
Total long-term notes and accounts payable to related parties |
2,570,360.00 |
|
Other non-current liabilities, others |
173,495.00 |
|
Total other non-current liabilities |
2,743,855.00 |
|
Total non-current liabilities |
4,193,855.00 |
|
Total liabilities |
8,762,587.00 |
|
Equity |
|
|
Share capital |
|
|
Ordinary share |
2,919,750.00 |
|
Total capital stock |
2,919,750.00 |
|
Capital surplus |
|
|
Total capital surplus |
690,000.00 |
|
Retained earnings |
|
|
Legal reserve |
1,287,784.00 |
|
Special reserve |
177,910.00 |
|
Unappropriated retained earnings (accumulated deficit) |
|
|
Total unappropriated retained earnings (accumulated deficit) |
1,175,847.00 |
|
Total retained earnings |
2,641,541.00 |
|
Other equity interest |
|
|
Unrealized gains (losses) on available-for-sale financial assets |
|
|
Total unrealized gains (losses) on available-for-sale financial assets |
64,213.00 |
|
Total other equity interest |
64,213.00 |
|
Total equity |
6,315,504.00 |
|
Equivalent issue shares of advance receipts for ordinary share |
0.00 |
|
Number of shares in entity held by entity and by its subsidiaries |
0.00 |
Unit: NTD/000
|
|
2012* |
2011* |
|
Sales |
25,451,425.00 |
27,319,955.00 |
|
Sales returns |
25,751.00 |
37,246.00 |
|
Sales |
25,425,674.00 |
27,282,709.00 |
|
Operating income |
25,425,674.00 |
27,282,709.00 |
|
Cost of sales |
24,928,162.00 |
23,800,740.00 |
|
Operating costs |
24,928,162.00 |
23,800,740.00 |
|
Gross profit (loss) from operations |
497,512.00 |
3,481,969.00 |
|
Selling expense |
493,023.00 |
443,560.00 |
|
General and administrative expenses |
95,441.00 |
155,639.00 |
|
Research and development expenses |
33,111.00 |
57,587.00 |
|
Operating expenses |
621,575.00 |
656,786.00 |
|
Operating income (loss) |
-124,063.00 |
2,825,183.00 |
|
Non-Operating Income |
|
|
|
Interest income |
5,873.00 |
7,937.00 |
|
Dividends |
11,293.00 |
10,844.00 |
|
Investment income |
11,293.00 |
10,844.00 |
|
Foreign exchange gains |
0.00 |
16,646.00 |
|
Revaluation gain on financial assets |
8,636.00 |
19,025.00 |
|
Miscellaneous income |
62,660.00 |
28,765.00 |
|
Non-operating revenues and gains |
88,462.00 |
83,217.00 |
|
Non-Operating Expenses |
|
|
|
Interest expense |
53,366.00 |
64,655.00 |
|
Revaluation loss on financial liabilities |
0.00 |
902.00 |
|
Miscellaneous disbursements |
31,290.00 |
20,833.00 |
|
Non-operating expenses and losses |
84,656.00 |
86,390.00 |
|
Income from continuing operations before income tax |
-120,257.00 |
2,822,010.00 |
|
Income tax expense (benefit) |
-21,768.00 |
486,736.00 |
|
Income from continuing operations |
-98,489.00 |
2,335,274.00 |
|
Net income (loss) |
-98,489.00 |
2,335,274.00 |
|
Primary Earnings per Share |
|
|
|
Primary earnings per share |
-0.34 |
8.00 |
|
Diluted earnings per share |
|
|
|
|
2013# |
|
Operating revenue |
|
|
Net sales revenue |
|
|
Net sales revenue |
22,579,541.00 |
|
Total operating revenue |
22,579,541.00 |
|
Operating costs |
|
|
Cost of sales |
|
|
Total cost of sales |
22,786,314.00 |
|
Total operating costs |
22,786,314.00 |
|
Gross profit (loss) from operations |
-206,773.00 |
|
Gross profit (loss) from operations |
-206,773.00 |
|
Operating expenses |
|
|
Selling expenses |
|
|
Total selling expenses |
407,164.00 |
|
Administrative expenses |
|
|
Total administrative expenses |
61,819.00 |
|
Research and development expenses |
|
|
Total research and development expenses |
43,663.00 |
|
Total operating expenses |
512,646.00 |
|
Net operating income (loss) |
-719,419.00 |
|
Non-operating income and expenses |
|
|
Other gains and losses |
|
|
Other gains and losses, net |
17,971.00 |
|
Finance costs |
|
|
Finance costs, net |
66,205.00 |
|
Total non-operating income and expenses |
-48,234.00 |
|
Profit (loss) from continuing operations before tax |
-767,653.00 |
|
Tax expense (income) |
|
|
Total tax expense (income) |
-114,440.00 |
|
Profit (loss) from continuing operations |
-653,213.00 |
|
Profit (loss) |
-653,213.00 |
|
Other comprehensive income |
|
|
Unrealised gains (losses) on valuation of available-for-sale financial
assets |
242,123.00 |
|
Actuarial gains (losses) on defined benefit plans |
-3,259.00 |
|
Other comprehensive income |
554.00 |
|
Other comprehensive income, net |
239,418.00 |
|
Total comprehensive income |
-413,795.00 |
|
Basic earnings per share |
|
|
Basic earnings (loss) per share from continuing operations |
-2.24 |
|
Total basic earnings per share |
-2.24 |
|
Diluted earnings per share |
|
|
Diluted earnings (loss) per share from continuing operations |
-2.24 |
|
Total diluted earnings per share |
-2.24 |
Unit: NTD/000
|
|
2012* |
2011* |
|
Cash Flows from Operating Activities - Indirect Method |
|
|
|
Net Income (Loss) |
-98,489.00 |
2,335,274.00 |
|
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in)
Operating Activities |
|
|
|
Depreciation Expense |
835,020.00 |
807,820.00 |
|
Amortization Expense |
75,636.00 |
86,150.00 |
|
Loss (Gain) on Disposal of Property, Plant and Equipment |
-9.00 |
0.00 |
|
Unrealized Revaluation Loss (Gain) on Financial Assets and Liabilities |
-8,636.00 |
-18,123.00 |
|
Loss (Gain) on Deferred Income Tax |
-21,696.00 |
-16,830.00 |
|
Changes in Operating Assets and Liabilities |
|
|
|
Decrease (Increase) in Financial Assets Held for Trading |
2,261,804.00 |
773,258.00 |
|
Decrease (Increase) in Accounts Receivable |
-1,058,209.00 |
-221,287.00 |
|
Decrease (Increase) in Accounts Receivable - Related Parties |
0.00 |
508,634.00 |
|
Decrease (Increase) in Other Receivables |
8,892.00 |
138,936.00 |
|
Decrease (Increase) in Inventories |
-308,160.00 |
157,228.00 |
|
Decrease (Increase) in Prepaid Expenses |
51,509.00 |
13,042.00 |
|
Decrease (Increase) in Other Current Assets |
55,157.00 |
-17,799.00 |
|
Increase (Decrease) in Accounts Payable |
1,030,672.00 |
-653,841.00 |
|
Increase (Decrease) in Income Tax Payable |
-232,339.00 |
-295,559.00 |
|
Increase (Decrease) in Accrued Expenses |
-71,790.00 |
-66,058.00 |
|
Increase (Decrease) in Other Payable - Related Parties |
13,129.00 |
651.00 |
|
Increase (Decrease) in Other Current Liabilities |
-6,853.00 |
-5,723.00 |
|
Increase (Decrease) in Accrued Pension Liabilities |
-20,883.00 |
-8,177.00 |
|
Net Cash Provided by (Used in) Operating Activities |
2,504,755.00 |
3,517,596.00 |
|
Cash Flows from Investing Activities |
|
|
|
Purchase of Property, Plant and Equipment |
-301,537.00 |
-486,419.00 |
|
Proceeds from Disposal of Property, Plant and Equipment |
9.00 |
0.00 |
|
Decrease (Increase) in Refundable Deposits |
300.00 |
1,513.00 |
|
Increase in Deferred Charges |
-11,117.00 |
-55,402.00 |
|
Decrease (Increase) in Other Assets |
-41,022.00 |
-1,164.00 |
|
Net Cash Provided by (Used in) Investing Activities |
-353,367.00 |
-541,472.00 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in Short-term Loans |
140,325.00 |
-162,305.00 |
|
Repayment of Long-term Debt |
-678,400.00 |
-878,400.00 |
|
Increase (Decrease) in Guarantee Deposits Received |
54.00 |
5,739.00 |
|
Increase (Decrease) in Lease Payable |
-33,918.00 |
-31,658.00 |
|
Cash Dividends Paid |
-1,854,042.00 |
-2,426,312.00 |
|
Other Financing Activities |
0.00 |
39,576.00 |
|
Net Cash Provided by (Used in) Financing Activities |
-2,425,981.00 |
-3,453,360.00 |
|
Net Increase (Decrease) in Cash and Cash Equivalents |
-274,593.00 |
-477,236.00 |
|
Cash and Cash Equivalents, Beginning of year |
715,789.00 |
1,193,025.00 |
|
Cash and Cash Equivalents, End of year |
441,196.00 |
715,789.00 |
|
Supplemental Cash Flow Information |
|
|
|
Interest Paid |
52,533.00 |
66,754.00 |
|
Interest Paid- Excluding Capitalized Interest |
52,533.00 |
66,754.00 |
|
Income Tax Paid |
238,552.00 |
799,125.00 |
|
Non-cash Investing and Financing Activities |
|
|
|
Current Portion of Long-term Liabilities |
1,903,200.00 |
878,400.00 |
|
Investing Activities Affecting Both Cash and Non-cash Items |
|
|
|
Cash Paid for Acquisition of Property, Plant and Equipment |
|
|
|
Increase in Property, Plant and Equipment |
344,005.00 |
475,470.00 |
|
Increase (Decrease) in Payable for Equipment Purchased |
-42,468.00 |
10,949.00 |
|
Cash Paid for Acquisition of Property, Plant and Equipment |
301,537.00 |
486,419.00 |
|
|
2013# |
|
Cash flows from (used in) operating activities, indirect method |
|
|
Profit (loss) from continuing operations before tax |
-767,653.00 |
|
Profit (loss) before tax |
-767,653.00 |
|
Adjustments |
|
|
Adjustments to reconcile profit (loss) |
|
|
Depreciation expense |
852,253.00 |
|
Provision (reversal of provision) for bad debt expense |
23.00 |
|
Interest expense |
66,205.00 |
|
Interest income |
-4,064.00 |
|
Dividend income |
-12,242.00 |
|
Impairment loss on non-financial assets |
9,548.00 |
|
Reversal of impairment loss on non-financial assets |
0.00 |
|
Unrealized foreign exchange loss (gain) |
2,381.00 |
|
Total adjustments to reconcile profit (loss) |
914,104.00 |
|
Changes in operating assets and liabilities |
|
|
Changes in operating assets |
|
|
Decrease (increase) in financial assets held for trading |
816.00 |
|
Decrease (increase) in accounts receivable |
473,792.00 |
|
Decrease (increase) in other receivable |
-928.00 |
|
Decrease (increase) in inventories |
-57,240.00 |
|
Decrease (increase) in prepayments |
4,932.00 |
|
Decrease (increase) in other current assets |
14,342.00 |
|
Total changes in operating assets |
435,714.00 |
|
Changes in operating liabilities |
|
|
Increase (decrease) in financial liabilities held for trading |
0.00 |
|
Increase (decrease) in accounts payable |
-41,724.00 |
|
Increase (decrease) in other payable |
-2,476.00 |
|
Increase (decrease) in other current liabilities |
25,848.00 |
|
Total changes in operating liabilities |
-18,352.00 |
|
Total changes in operating assets and liabilities |
417,362.00 |
|
Total adjustments |
1,331,466.00 |
|
Cash inflow (outflow) generated from operations |
563,813.00 |
|
Interest received |
4,064.00 |
|
Interest paid |
-51,889.00 |
|
Income taxes refund (paid) |
663.00 |
|
Net cash flows from (used in) operating activities |
516,651.00 |
|
Cash flows from (used in) investing activities |
|
|
Acquisition of property, plant and equipment |
-272,087.00 |
|
Dividends received |
12,242.00 |
|
Other investing activities |
-21,382.00 |
|
Net cash flows from (used in) investing activities |
-281,227.00 |
|
Cash flows from (used in) financing activities |
|
|
Increase in short-term loans |
11,844,134.00 |
|
Decrease in short-term loans |
-11,324,718.00 |
|
Increase in short-term notes and bills payable |
1,795,825.00 |
|
Decrease in short-term notes and bills payable |
-1,300,000.00 |
|
Proceeds from long-term debt |
1,450,000.00 |
|
Repayments of long-term debt |
-2,103,200.00 |
|
Decrease in lease payable |
-74,400.00 |
|
Increase in other non-current liabilities |
783.00 |
|
Cash dividends paid |
-116,790.00 |
|
Net cash flows from (used in) financing activities |
171,634.00 |
|
Net increase (decrease) in cash and cash equivalents |
407,058.00 |
|
Cash and cash equivalents at beginning of period |
441,196.00 |
|
Cash and cash equivalents at end of period |
848,254.00 |
|
Cash and cash equivalents reported in the statement of financial
position |
848,254.00 |
Note:
(*) Figures are based on the Taiwan generally
accepted accounting principle.
(#) 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
|
Case Type: |
Chattel Mortgage |
|
File No.: |
097287 |
|
Debtor Name: |
Taiwan Prosperity Chemical Corporation |
|
Document Number: |
09830436040 |
|
Date of Registration: |
2009-5-4 |
Lawsuit
Up to date of reporting, no existing or latent
litigation of the subject has been found.
Interview Details
|
Name |
Ms. Liu |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.20 |
|
|
1 |
Rs.97.01 |
|
Euro |
1 |
Rs.69.34 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NIT |
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.