|
Report No. : |
307622 |
|
Report Date : |
13.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
OCEAN PLASTICS CO., LTD. |
|
|
|
|
Registered Office : |
5, 6th Fl., 310, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 (Consolidated) |
|
|
|
|
Date of Incorporation : |
07.06.1965 |
|
|
|
|
Com. Reg. No.: |
15024509 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Engaged in Manufacturing and Sale of Plastic Products including include PVC Sheet, PVC Leather, PVC Raw Material, PVC Construction Material, DMF-Free ECO PU & Wood Plastic Composites |
|
|
|
|
No. of Employees : |
About 600 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 : |
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. 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: |
+886-2-2308-1188/2306-2131 |
|
Fax Number: |
|
|
E-mail: |
Notes: Subject’s exact name and address are as
above.
|
Registered Name: |
Ocean Plastics Co., Ltd. |
|
Registered Address: |
5, 6th Fl., 310, Chukwang Rd., Taipei Taiwan
R.O.C. |
|
Date of Foundation: |
1965-6-7 |
|
Registration Number: |
15024509 |
|
Registry: |
Department of Commerce,
Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD
4,000,000,000 (USD 124,000,000) (As of 2015.1, 1 NTD = 0.0310 USD) |
|
Paid-up Capital: |
NTD 2,272,282,680 (USD 70,440,763) |
|
Legal Representatives: |
Qinming Chen |
|
Legal Form: |
|
|
Principal Activities: |
Engaged in
Manufacturing and Sale of Plastic Products including include PVC
Sheet, PVC Leather, PVC Raw Material, PVC Construction Material, DMF-Free ECO
PU & Wood Plastic Composites |
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject was incorporated
on 1965-6-7 with registered number 15024509
as Joint Stock Company in
Taiwan.
Subject listed on Taiwan stock exchange on 1999-1-26.
History:
|
2008 |
Ocean Plastics
(Hui Zhou) Co., Ltd. was established, manufacturing flexible sheet. |
|
2006 |
Ocean Plastics
(Dong Guan) Co., Ltd. was established, manufacturing PU leather. |
|
2003 |
Ocean factory,
Tao-Yuan factory, Chung-Li factory achieved ISO 9001 (Version 2000) quality
certification. |
|
2002 |
Hunan Ocean Wide
Plastics Ltd. was established, manufacturing rigid PVC pipes. It's OPC first
beginning to enter China local market of construction. |
|
2000 |
The company
restructured the organizations, established Plastic Processing Business
Department(originally Ocean factory), PVC Raw Material Business
Department(originally Tao-Yuan factory), and Construction Material Business
Department(originally Chung-Li factory) |
|
1999 |
OPC was public
on TSE(Taiwan Stock Exchange Market), Chung-Li factory achieved ISO 14001 Environmental
certification. |
|
1999-1-26 |
Subject was
listed in Taiwan Stock Exchange on |
|
1998 |
Water-based PU
was developed, and began to develop environmental friendly materials. |
|
1997 |
Ocean factory achieved
ISO 9002 quality certification. The Tao-Yuan factory was granted RW-TuV ISO
9002 quality certification. |
|
1996 |
Chung-Li factory
was granted ISO 9002 quality certification. |
|
1995 |
.New item of PVC
rigid sheets were added to our product lines. |
|
1994 |
The Ocean
factory achieved DNV ISO 9002 quality certification. |
|
1993 |
Started
producing polymer-blended compound for OA housing. |
|
1991 |
Developed
conductive PVC pellet, entered into IC tube packaging industry. |
|
1990 |
PVC rigid board and
PVC foam plate were added to our product lines. |
|
1987 |
PVC transparent
pellet for general medical equipment(such as oxygen mask) |
|
1985 |
Chung-Li factory
was established, manufacturing rigid PVC pipes |
|
1978 |
R&D
department was founded. |
|
1976 |
Tao-Yuan factory
was established, manufacturing PVC resin. |
|
1970 |
With the
technology license from a Japanese company Akimai Gomu Co., Ltd., began
manufacturing high quality sponge leather and polyurethane leather. |
|
1967 |
PVC printed sheets
and plastic wallpaper were added to our product lines. |
|
1965 |
With the
technology license from a Japanese company Kanegafuchi Chemical Co., started
to produce PVC resin. And Ocean factory was established in Chung-Ho city in
Taipei, manufacturing PVC sheets, pipes, films and leather. |
|
Name |
Subscription Shares |
|
Qinming Chen |
5,695,202 |
|
Rugeng Wang |
|
|
731,230 |
|
|
Xie Xun Investment Co., Ltd (Liberal Translation) |
1,237,196 |
|
Qinxiong Chen |
3,943,860 |
|
Qishou Chen |
673,101 |
|
Xuan Yang Investment Co., Ltd (Liberal Translation) |
1,440,247 |
|
Want-Want Co., Ltd. |
2,976,669 |
|
Xiurong Wu |
525,638 |
|
Ziyun Xie |
1,152,769 |
The information above
is that of subject’s major shareholders.
Major Shareholder Information:
|
1 |
|
|
Registered Name: |
Xie Xun Investment Co., Ltd (Liberal Translation) |
|
Registered Address: |
6F., No.310, Juguang Rd., Wanhua Dist.,
Taipei City, Taiwan (R.O.C.) |
|
Date of Foundation: |
1993-12-11 |
|
Registration Number: |
84494576 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 30,000,000 (USD 930,000) (As of 2015.1, 1 NTD = 0.0310 USD) |
|
Paid-up Capital: |
NTD 28,000,000 (USD 868,000) |
|
Legal Representatives: |
Linqiongyu Chen |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-11-11 |
|
2 |
|
|
Registered Name: |
Xuan Yang Investment Co., Ltd (Liberal Translation) |
|
Registered Address: |
7F., No.310, Juguang Rd., Wanhua Dist.,
Taipei City, Taiwan (R.O.C.) |
|
Date of Foundation: |
2004-12-12 |
|
Registration Number: |
89994353 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 20,000,000 (USD 620,000) (As of 2015.1, 1 NTD = 0.0310 USD) |
|
Paid-up Capital: |
NTD 20,000,000 (USD 620,000) |
|
Legal Representatives: |
Zhoucaiyu Chen |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-6-24 |
|
3 |
|
|
Registered Name: |
Want-Want Co., Ltd. |
|
Registered Address: |
5F.-3, No.17, Sec. 1, Chengde Rd., Datong
Dist., Taipei City, Taiwan (R.O.C.) |
|
Date of Foundation: |
1987-3-17 |
|
Registration Number: |
22421075 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 151,800,000 (USD 4,705,800) (As of 2015.1, 1 NTD = 0.0310 USD) |
|
Paid-up Capital: |
NTD 151,800,000 (USD 4,705,800) |
|
Legal Representatives: |
Yusheng Li |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-11-24 |
Factories
|
1 |
|
|
Name: |
Taoyuan the 3rd Factory |
|
Address: |
No.375, Haihu E. Rd., Luzhu Township, Taoyuan County, Taiwan (R.O.C.) and
No.66, Lane 239, Haihu E. Rd., Taoyuan County, Taiwan (R.O.C.) |
|
Date of Registration: |
2013-5-13 |
|
Factory Registration Number: |
03001682 |
|
Factory Manager: |
Qinming Chen |
|
Status: |
In production |
|
Date of Last Annual Return: |
2013-5-13 |
|
Major Products: |
220 Plastic products |
|
2 |
|
|
Name: |
Dayang Factory |
|
Address: |
No.353, Sec. 2, Zhongshan Rd., Zhonghe Dist., New Taipei City, Taiwan
(R.O.C.) |
|
Date of Foundation: |
1969-1-1 |
|
Date of Registration: |
1969-12-1 |
|
Factory Registration Number: |
99600860 |
|
Factory Manager: |
Qinming Chen |
|
Status: |
In production |
|
Date of Last Annual Return: |
2001-8-6 |
|
Major Products: |
220 Plastic products |
|
3 |
|
|
Name: |
Taoyuan The 2nd Factory |
|
Address: |
No.375, Haihu E. Rd., Luzhu Township, Taoyuan County, Taiwan (R.O.C.) |
|
Date of Registration: |
2003-11-13 |
|
Factory Registration Number: |
99687301 |
|
Factory Manager: |
Qinming Chen |
|
Status: |
In production |
|
Date of Last Annual Return: |
2013-12-15 |
|
Major Products: |
184 Synthetic resin, plastic and rubber |
|
4 |
|
|
Name: |
Taoyuan Factory |
|
Address: |
No.375, Haihu E. Rd., Luzhu Township, Taoyuan County, Taiwan (R.O.C.) |
|
Date of Foundation: |
1969-1-1 |
|
Date of Registration: |
1978-4-4 |
|
Factory Registration Number: |
99621648 |
|
Factory Manager: |
Qinming Chen |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2014-12-15 |
|
Major Products: |
184 Synthetic resin, plastic and rubber 220 Plastic products |
|
5 |
|
|
Name: |
Zhongli Factory |
|
Address: |
No. 539, Longxing Rd., Houliao Li, Zhongli Dist., Taoyuan County,
Taiwan |
|
Date of Foundation: |
1986-9-13 |
|
Date of Registration: |
1987-10-27 |
|
Factory Registration Number: |
99621643 |
|
Factory Manager: |
Qinming Chen |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2001-8-8 |
|
Major Products: |
220 Plastic products |
Related Companies
|
1 |
|
|
Name: |
Ocean Plastics (Hui Zhou) Co., Ltd. |
|
Tel: |
+886-752-3728896 |
|
Fax: |
+886-752-3728890 |
|
2 |
|
|
Name: |
Ocean Plastics (Dong Guan) Co., Ltd. |
|
Address: |
Weiwu Industrial, Nan Ya Country, Daoyao Town, Dongguan City, The
Mainland Of China |
|
Tel: |
+886-769-81331601 |
|
Fax: |
+886-769-88328980 |
|
3 |
|
|
Name: |
Hunan Ocean Wide Plastics Ltd. |
|
Address: |
No. 7, Wangwang East Road, Gao Tang Ling Town, Wangcheng County,
Changsha City, Hunan Province, The Mainland Of China |
|
Tel: |
+886-731-8054888/8054889 |
|
Fax: |
+886-731-8054885 |
Office
|
Address: |
No. 131, Jianping 14 Street, Tainan, Taiwan. |
|
Tel: |
+886-6-297-4511 |
Core Management
Directors
|
1 |
|
|
Name |
Qinming Chen |
|
Position |
Board Chairman & Manager |
|
Date of Appointment for the Manager |
1997-6-30 |
|
2 |
|
|
Name |
Rugeng Wang |
|
Position |
Director |
|
3 |
|
|
Name |
Zongbin Zhu |
|
Position |
Director |
|
4 |
|
|
Name |
Qinxiong Chen |
|
Position |
Director |
|
5 |
|
|
Name |
Qishou Chen |
|
Position |
Director |
|
6 |
|
|
Name |
Junyan Zhang |
|
Position |
Director |
|
7 |
|
|
Name |
Yuqin Xie |
|
Position |
Director |
|
8 |
|
|
Name |
Xiurong Wu |
|
Position |
Supervisor |
|
9 |
|
|
Name |
Ziyun Xie |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
About 600 Employees |
Offices &
Factories
|
|
Headquarters |
|
Add |
Production
Information
· Subject is engaged in manufacturing of plastic products
It is introduced that subject has factories in Taiwan for production.
Subject has obtained ISO 14001, ISO 9001 and ISO 9002 certifications.
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Manufacture and sales of plastic materials. |
|
-- |
Manufacture and sales of raw materials for plastics
industry |
|
-- |
Manufacture and sales of plastic industrial attach raw materials. |
|
C801020 |
Manufacture of petrochemicalmaterials |
|
C801040 |
|
|
C801990 |
Manufacture of other chemical materials |
|
H701010 |
Residential and building developing and rental industry |
|
H701020 |
Industrial plant developing and rental industry |
|
H703010 |
Renting plant. |
|
H703030 |
Renting office building |
|
F401010 |
International trading business |
|
F301010 |
Department store industry |
|
F301020 |
Super market industry |
|
F301030 |
General department store. |
|
ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
The raw materials of the subject for production are both purchased home and abroad.
· The subject is mainly engaged in sale of plastic products
Subject’s major products include PVC Sheet, PVC Leather,
PVC Raw Material, PVC Construction Material, DMF-Free ECO PU & Wood Plastic
Composites
The sales regions of the subject are domestic market, Japan, Korea,
other Asian Countries, America, Europe, etc.
Subject’s major customers are manufacturers of
shoes, sports products, auto parts, etc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
PURCHASE
Domestic Purchase
|
Products |
Raw materials, etc. |
|
Payment Terms |
T/T, Cash, etc. |
Import
|
Products |
Raw materials, etc. |
|
Payment Terms |
L/C, T/T, etc. |
SALES
Domestic Markets
|
Product |
Plastic products, etc. |
|
Selling Terms |
T/T, Cash, etc. |
Export
|
Product |
Plastic products, etc. |
|
Selling Terms |
L/C, T/T, etc. |
Unit: NTD/000
|
Consolidated |
2013-12-31 |
2012-12-31 |
|
Assets |
|
|
|
Current assets |
|
|
|
Cash and cash equivalents |
|
|
|
Cash on hand |
4,424 |
50 |
|
Petty cash/revolving funds |
450 |
4,715 |
|
Cash in banks |
316,179 |
204,210 |
|
Total cash and cash equivalents |
321,053 |
208,975 |
|
Current financial assets at fair value through profit or loss |
|
|
|
Current financial assets held for trading |
19,573 |
19,573 |
|
Adjustments for change in value of current financial assets held for
trading |
590 |
452 |
|
Total current financial assets at fair value through profit or loss |
20,163 |
20,025 |
|
Notes receivable, net |
|
|
|
Notes receivable |
59,931 |
68,506 |
|
Allowance for uncollectible accounts, notes receivable |
0 |
0 |
|
Notes receivable, net |
59,931 |
68,506 |
|
Accounts receivable, net |
|
|
|
Accounts receivable |
616,392 |
528,519 |
|
Allowance for uncollectible accounts, accounts, installment, and lease
payments receivable |
6,912 |
13,039 |
|
Accounts receivable, net |
609,480 |
515,480 |
|
Other receivables |
|
|
|
Tax refund receivable |
17,261 |
11,952 |
|
Other non-operating receivables, others |
3,751 |
4,709 |
|
Other receivables, net |
21,012 |
16,661 |
|
Current tax assets |
|
|
|
Income tax refund receivable |
64 |
98 |
|
Total current tax assets |
64 |
98 |
|
Inventories |
|
|
|
Inventories, manufacturing business |
|
|
|
Finished goods |
387,360 |
347,617 |
|
By-products |
6,451 |
661 |
|
Work in progress |
60,914 |
60,704 |
|
Raw materials |
223,883 |
256,948 |
|
Supplies |
30,002 |
31,954 |
|
Materials and supplies in transit |
1,143 |
41,035 |
|
Allowance for inventory valuation losses |
102,582 |
115,386 |
|
Inventories, manufacturing business, net |
607,171 |
623,533 |
|
Total inventories |
607,171 |
623,533 |
|
Prepayments |
|
|
|
Prepaid insurance premiums |
1,782 |
0 |
|
Other prepaid expenses |
22,095 |
3,828 |
|
Prepayments to suppliers |
15,287 |
20,215 |
|
Business tax paid (or Input VAT) |
116 |
116 |
|
Excess business tax paid (or Net Input VAT) |
0 |
0 |
|
Other prepayments |
0 |
0 |
|
Total prepayments |
39,280 |
24,159 |
|
Other current assets |
|
|
|
Total other current assets |
0 |
3,009 |
|
Total current assets |
1,678,154 |
1,480,446 |
|
Non-current assets |
|
|
|
Non-current available-for-sale financial assets |
|
|
|
Non-current available-for-sale financial assets |
118,648 |
122,333 |
|
Adjustments for change in value of non-current available-for-sale
financial assets |
-20,684 |
-40,677 |
|
Non-current available-for-sale financial assets, net |
97,964 |
81,656 |
|
Non-current financial assets at cost |
|
|
|
Non-current financial assets at cost |
379,426 |
379,426 |
|
Accumulated impairment, non-current financial assets at cost |
89,629 |
81,626 |
|
Non-current financial assets at cost, net |
289,797 |
297,800 |
|
Investments accounted for using equity method |
|
|
|
Investments accounted for using equity method |
336,456 |
354,739 |
|
Investments accounted for using equity method, net |
336,456 |
354,739 |
|
Property, plant and equipment |
|
|
|
Land, net |
|
|
|
Land, cost |
4,944,447 |
4,445,858 |
|
Land, net |
4,944,447 |
4,445,858 |
|
Buildings and structures, net |
|
|
|
Buildings and structures, cost |
789,693 |
804,624 |
|
Accumulated depreciation, buildings and structures |
380,298 |
391,252 |
|
Accumulated impairment, buildings and structures |
22,660 |
22,660 |
|
Buildings and structures, net |
386,735 |
390,712 |
|
Machinery and equipment, net |
|
|
|
Machinery and equipment, cost |
2,983,933 |
3,004,762 |
|
Accumulated depreciation, machinery and equipment |
2,501,449 |
2,479,468 |
|
Accumulated impairment, machinery and equipment |
25,888 |
25,252 |
|
Machinery and equipment, net |
456,596 |
500,042 |
|
Other facilities, net |
|
|
|
Other facilities, cost |
1,275,796 |
1,273,911 |
|
Accumulated depreciation, other facilities |
1,019,833 |
984,825 |
|
Accumulated impairment, other facilities |
31,126 |
30,915 |
|
Other facilities, net |
224,837 |
258,171 |
|
Unfinished construction and equipment under acceptance |
268,750 |
151,219 |
|
Total property, plant and equipment |
6,281,365 |
5,746,002 |
|
Investment property, net |
|
|
|
Investment property, net |
284,053 |
723,257 |
|
Deferred tax assets |
10,603 |
41,506 |
|
Other non-current assets |
|
|
|
Prepayments for business facilities |
0 |
349 |
|
Guarantee deposits paid |
2,247 |
269 |
|
Long-term prepaid rents |
54,386 |
58,978 |
|
Total other non-current assets |
56,633 |
59,596 |
|
Total non-current assets |
7,356,871 |
7,304,556 |
|
Total assets |
9,035,025 |
8,785,002 |
|
Liabilities |
|
|
|
Current liabilities |
|
|
|
Short-term borrowings |
|
|
|
Bank loan |
409,580 |
509,551 |
|
Total short-term borrowings |
409,580 |
509,551 |
|
Current financial liabilities at fair value through profit or loss |
|
|
|
Total current financial liabilities at fair value through profit or
loss |
0 |
1,333 |
|
Notes payable |
|
|
|
Total notes payable |
7,953 |
9,632 |
|
Accounts payable |
|
|
|
Accounts payable |
528,404 |
433,876 |
|
Estimated accounts payable |
11,463 |
0 |
|
Total accounts payable |
539,867 |
433,876 |
|
Other payables |
|
|
|
Wages and salaries payable |
64,278 |
47,048 |
|
Interest payable |
0 |
385 |
|
Pension expense payable |
1,692 |
0 |
|
Other accrued expenses |
13,588 |
6,579 |
|
Business tax received (or Output VAT) |
-25 |
-25 |
|
Business tax payable |
5,233 |
0 |
|
Other payables, others |
93,054 |
88,914 |
|
Total other payables |
177,820 |
142,901 |
|
Other payables to related parties |
1,864 |
2,100 |
|
Current tax liabilities |
55 |
0 |
|
Other current liabilities |
|
|
|
Advance receipts |
|
|
|
Advance sales receipts |
11,732 |
10,620 |
|
Total advance receipts |
11,732 |
10,620 |
|
Long-term liabilities, current portion |
|
|
|
Total long-term liabilities, current portion |
40,000 |
20,000 |
|
Temporary credits |
329 |
7 |
|
Receipts under custody |
257 |
11,518 |
|
Total other current liabilities |
52,318 |
42,145 |
|
Total current liabilities |
1,189,457 |
1,141,538 |
|
Non-current liabilities |
|
|
|
Long-term borrowings |
|
|
|
Long-term bank loans |
890,000 |
730,000 |
|
Total long-term borrowings |
890,000 |
730,000 |
|
Non-current provisions |
|
|
|
Non-current provisions for employee benefits |
7,980 |
8,381 |
|
Total non-current provisions |
7,980 |
8,381 |
|
Deferred tax liabilities |
|
|
|
Total deferred tax liabilities |
1,351,974 |
1,350,596 |
|
Other non-current liabilities |
|
|
|
Accrued pension liabilities |
503,753 |
531,562 |
|
Guarantee deposits received |
1,561 |
1,518 |
|
Total other non-current liabilities |
505,314 |
533,080 |
|
Total non-current liabilities |
2,755,268 |
2,622,057 |
|
Total liabilities |
3,944,725 |
3,763,595 |
|
Equity |
|
|
|
Equity attributable to owners of parent |
|
|
|
Share capital |
|
|
|
Ordinary share |
2,272,283 |
2,272,283 |
|
Total capital stock |
2,272,283 |
2,272,283 |
|
Capital surplus |
|
|
|
Capital surplus, treasury share transactions |
7,112 |
7,112 |
|
Capital surplus, others |
680 |
680 |
|
Total capital surplus |
7,792 |
7,792 |
|
Retained earnings |
|
|
|
Unappropriated retained earnings (accumulated deficit) |
|
|
|
Total unappropriated retained earnings (accumulated deficit) |
2,860,086 |
2,838,322 |
|
Total retained earnings |
2,860,086 |
2,838,322 |
|
Other equity interest |
|
|
|
Exchange differences on translation of foreign financial statements |
|
|
|
Total exchange differences on translation of foreign financial
statements |
7,012 |
-20,124 |
|
Unrealized gains (losses) on available-for-sale financial assets |
|
|
|
Unrealized gains (losses) on available-for-sale financial assets,
parent |
-6,150 |
-23,872 |
|
Unrealized gains (losses) on available-for-sale financial assets,
subsidiaries accounted for using equity method |
-14,534 |
-16,805 |
|
Unrealized gains (losses) on available-for-sale financial assets,
associates and joint ventures accounted for using equity method |
0 |
0 |
|
Total unrealized gains (losses) on available-for-sale financial assets |
-20,684 |
-40,677 |
|
Total other equity interest |
-13,672 |
-60,801 |
|
Treasury shares |
36,189 |
36,189 |
|
Total equity attributable to owners of parent |
5,090,300 |
5,021,407 |
|
Total equity |
5,090,300 |
5,021,407 |
|
Equivalent issue shares of advance receipts for ordinary share |
0 |
0 |
|
Number of shares in entity held by entity and by its subsidiaries |
6,542,716 |
6,542,716 |
Unit: NTD/000
|
Consolidated |
2013 |
2012 |
|
Operating revenue |
|
|
|
Net sales revenue |
|
|
|
Sales revenue |
|
|
|
Sales revenue |
5,910,632 |
5,500,983 |
|
Total sales revenue |
5,910,632 |
5,500,983 |
|
Sales returns |
1,905 |
1,807 |
|
Sales discounts and allowances |
18,970 |
19,637 |
|
Net sales revenue |
5,889,757 |
5,479,539 |
|
Total operating revenue |
5,889,757 |
5,479,539 |
|
Operating costs |
|
|
|
Cost of sales |
|
|
|
Cost of sales |
5,517,526 |
5,251,383 |
|
Total cost of sales |
5,517,526 |
5,251,383 |
|
Total operating costs |
5,517,526 |
5,251,383 |
|
Gross profit (loss) from operations |
372,231 |
228,156 |
|
Gross profit (loss) from operations |
372,231 |
228,156 |
|
Operating expenses |
|
|
|
Selling expenses |
|
|
|
Total selling expenses |
245,197 |
218,002 |
|
Administrative expenses |
|
|
|
Total administrative expenses |
137,089 |
157,602 |
|
Research and development expenses |
|
|
|
Total research and development expenses |
9,206 |
12,092 |
|
Total operating expenses |
391,492 |
387,696 |
|
Net operating income (loss) |
-19,261 |
-159,540 |
|
Non-operating income and expenses |
|
|
|
Other income |
|
|
|
Interest income |
|
|
|
Interest income from bank deposits |
1,227 |
2,084 |
|
Total interest income |
1,227 |
2,084 |
|
Rent income |
651 |
366 |
|
Dividend income |
3,951 |
3,696 |
|
Gains on doubtful debt recoveries |
5,747 |
14,207 |
|
Other income, others |
35,187 |
6,952 |
|
Total other income |
46,763 |
27,305 |
|
Other gains and losses |
|
|
|
Gains on disposals of investments |
411 |
0 |
|
Foreign exchange gains |
28,137 |
0 |
|
Gains on financial assets (liabilities) at fair value through profit or
loss |
7,296 |
2,256 |
|
Reversal of impairment loss recognized in profit or loss |
|
|
|
Reversal of impairment loss recognized in profit or loss, property,
plant and equipment |
0 |
1,017 |
|
Total reversal of impairment loss recognized in profit or loss |
0 |
1,017 |
|
Miscellaneous disbursements |
3,093 |
10,794 |
|
Losses on disposals of property, plant and equipment |
9,461 |
0 |
|
Foreign exchange losses |
13,923 |
2,244 |
|
Losses on financial assets (liabilities) at fair value through profit
or loss |
10,560 |
0 |
|
Impairment loss |
|
|
|
Impairment loss on financial assets |
8,003 |
705 |
|
Total impairment loss |
8,003 |
705 |
|
Other gains and losses, net |
-9,196 |
-10,470 |
|
Finance costs |
|
|
|
Interest expense |
17,142 |
13,124 |
|
Finance costs, net |
17,142 |
13,124 |
|
Share of profit (loss) of associates and joint ventures accounted for
using equity method |
|
|
|
Share of profit (loss) of associates and joint ventures accounted for
using equity method, net |
38,847 |
40,455 |
|
Total non-operating income and expenses |
59,272 |
44,166 |
|
Profit (loss) from continuing operations before tax |
40,011 |
-115,374 |
|
Tax expense (income) |
|
|
|
Total tax expense (income) |
26,802 |
2,358 |
|
Profit (loss) from continuing operations |
13,209 |
-117,732 |
|
Profit (loss) |
13,209 |
-117,732 |
|
Other comprehensive income |
|
|
|
Exchange differences on translation |
32,694 |
-24,246 |
|
Unrealized gains (losses) on valuation of available-for-sale financial
assets |
19,993 |
4,410 |
|
Actuarial gains (losses) on defined benefit plans |
8,555 |
-27,706 |
|
Income tax related to components of other comprehensive income |
5,558 |
-4,122 |
|
Other comprehensive income, net |
55,684 |
-43,420 |
|
Total comprehensive income |
68,893 |
-161,152 |
|
Profit (loss), attributable to: |
|
|
|
Profit (loss), attributable to owners of parent |
13,209 |
-117,732 |
|
Comprehensive income attributable to: |
|
|
|
Comprehensive income, attributable to owners of parent |
68,893 |
-161,152 |
|
Basic earnings per share |
|
|
|
Total basic earnings per share |
0.06 |
-0.54 |
Unit: NTD/000
|
Consolidated |
2013 |
2012 |
|
Cash flows from (used in) operating activities, indirect method |
|
|
|
Profit (loss) from continuing operations before tax |
40,011 |
-115,374 |
|
Profit (loss) before tax |
40,011 |
-115,374 |
|
Adjustments |
|
|
|
Adjustments to reconcile profit (loss) |
|
|
|
Depreciation expense |
147,447 |
150,834 |
|
Amortization expense |
1,377 |
1,443 |
|
Provision (reversal of provision) for bad debt expense |
-5,747 |
-9,070 |
|
Interest expense |
17,142 |
13,124 |
|
Interest income |
-1,227 |
-2,084 |
|
Dividend income |
-3,951 |
-3,696 |
|
Share of loss (profit) of associates and joint ventures accounted for
using equity method |
-38,847 |
-40,455 |
|
Loss (gain) on disposal of property, plan and equipment |
9,461 |
0 |
|
Loss (gain) on disposal of other assets |
-10,060 |
0 |
|
Loss (gain) on disposal of investments |
-411 |
0 |
|
Impairment loss on financial assets |
8,003 |
705 |
|
Reversal of impairment loss on non-financial assets |
0 |
-1,017 |
|
Total adjustments to reconcile profit (loss) |
123,187 |
109,784 |
|
Changes in operating assets and liabilities |
|
|
|
Changes in operating assets |
|
|
|
Decrease (increase) in financial assets held for trading |
-138 |
58 |
|
Decrease (increase) in notes receivable |
8,575 |
-4,574 |
|
Decrease (increase) in accounts receivable |
-87,873 |
3,512 |
|
Decrease (increase) in other receivable |
-4,351 |
-5,590 |
|
Decrease (increase) in inventories |
16,362 |
38,295 |
|
Decrease (increase) in prepayments |
-15,121 |
17,583 |
|
Decrease (increase) in other current assets |
-24,160 |
12,895 |
|
Total changes in operating assets |
-106,706 |
62,179 |
|
Changes in operating liabilities |
|
|
|
Increase (decrease) in financial liabilities held for trading |
-1,333 |
1,333 |
|
Increase (decrease) in notes payable |
-1,679 |
3,461 |
|
Increase (decrease) in accounts payable |
105,991 |
-27,202 |
|
Increase (decrease) in other payable |
43,851 |
-36,549 |
|
Increase (decrease) in other payable to related parties |
-236 |
250 |
|
Increase (decrease) in provisions |
-401 |
-2,575 |
|
Increase (decrease) in other current liabilities |
-8,448 |
6,761 |
|
Increase (decrease) in accrued pension liabilities |
-19,255 |
-28,270 |
|
Total changes in operating liabilities |
118,490 |
-82,791 |
|
Total changes in operating assets and liabilities |
11,784 |
-20,612 |
|
Total adjustments |
134,971 |
89,172 |
|
Cash inflow (outflow) generated from operations |
174,982 |
-26,202 |
|
Interest received |
1,227 |
2,084 |
|
Dividends received |
61,081 |
12,396 |
|
Interest paid |
-17,527 |
-13,092 |
|
Income taxes refund (paid) |
10 |
21,633 |
|
Net cash flows from (used in) operating activities |
219,773 |
-3,181 |
|
Cash flows from (used in) investing activities |
|
|
|
Acquisition of available-for-sale financial assets |
0 |
-1,648 |
|
Proceeds from disposal of available-for-sale financial assets |
4,096 |
0 |
|
Acquisition of financial assets at cost |
0 |
-46,174 |
|
Acquisition of property, plant and equipment |
-217,759 |
-156,876 |
|
Increase in refundable deposits |
-1,935 |
0 |
|
Acquisition of investment properties |
-16,260 |
-9,807 |
|
Decrease in other non-current assets |
16,678 |
0 |
|
Increase in prepayments for business facilities |
0 |
-349 |
|
Decrease in prepayments for business facilities |
349 |
0 |
|
Net cash flows from (used in) investing activities |
-214,831 |
-214,854 |
|
Cash flows from (used in) financing activities |
|
|
|
Increase in short-term loans |
-100,000 |
-51,893 |
|
Proceeds from long-term debt |
200,000 |
250,000 |
|
Repayments of long-term debt |
-20,000 |
0 |
|
Net cash flows from (used in) financing activities |
80,000 |
198,107 |
|
Effect of exchange rate changes on cash and cash equivalents |
27,136 |
-20,124 |
|
Net increase (decrease) in cash and cash equivalents |
112,078 |
-40,052 |
|
Cash and cash equivalents at beginning of period |
208,975 |
249,027 |
|
Cash and cash equivalents at end of period |
321,053 |
208,975 |
|
Cash and cash equivalents reported in the statement of financial
position |
321,053 |
208,975 |
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 cannot obtain the relevant
information, either.
Mortgage
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
022703 |
|
Debtor Name: |
Ocean Plastics Co., Ltd. |
|
Document Number: |
030349 |
|
Date of Registration: |
1985-2-12 |
|
Date of Alteration: |
1985-2-12 |
|
Status: |
Paid off |
Lawsuit
|
2007,Beibaoxianjian, 24 |
|
|
Date of Trial: |
2007-11-30 |
|
Reason: |
|
Name |
Mr. Wong |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.43 |
|
|
1 |
Rs.95.02 |
|
Euro |
1 |
Rs.70.63 |
INFORMATION DETAILS
|
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.