|
Report No. : |
301462 |
|
Report Date : |
07.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
FROCH ENTERPRISE CO., LTD |
|
|
|
|
Formerly Known as : |
Jaung Yuann Enterprise Co., Ltd. |
|
|
|
|
Registered Office : |
No.122, Industrial Road, Tou-Liu City, Yun-Lin 640 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2013 (Consolidated) |
|
|
|
|
Date of Incorporation : |
05.10.1984 |
|
|
|
|
Com. Reg. No.: |
60330130 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Engaged in manufacturing
and sale of Stainless Steel
Products such as Stainless Steel Inside Polished Pipe, Stainless Steel
Equal-Leg Angle Bar, Stainless Steel Coated Pipe, Stainless Steel Pie, Large
Diameter Stainless Steel Pipe, Stainless Steel Mechanical Tube, Stainless
Steel Tube For Boiler and Heat-Exchanger, Light Gauge Stainless Steel Tube
For General Service, Stainless Steel Square, and Rectangular Tube, Stainless
Steel Sanitary Tube, Stainless Steel Sheet, Plate, and Coil which are
applied to Chemical, Petrochemical, Automobile, Furniture, Construction, and
Bio-Tech Industries |
|
|
|
|
No of Employees : |
About 580 Employees (Taiwan) |
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 : |
Good |
|
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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: |
|
|
Supplied Address: |
|
|
Telephone Number: |
|
|
Fax Number: |
+886 5-557-1188/5571-339 |
|
E-mail: |
|
Credit Opinion: |
Subject was incorporated on 1984-10-5 with registered number 60330130 as Joint Stock Company in Taiwan.
Subject was listed on Taiwan Stock Exchange on 1998-12-24
|
Former English Name |
Jaung Yuann Enterprise Co., Ltd. |
|
Current English Name |
Froch Enterprise Co., Ltd |
|
Name |
Subscription Shares |
|
Bingyao Zhang |
16,708,351 |
|
Xinjie Investment Co., Ltd (Literal
Translation) |
|
|
26,856,816 |
|
|
Zongjie Lin |
6,890,679 |
|
Zhaojun Lin |
1,037,346 |
|
Yizheng Shi |
1,150,715 |
|
Rongjian Lian |
255,493 |
|
Muchuan Xu |
250,759 |
|
Xiumiao Li |
7,987,601 |
|
Yintang Wang |
107,500 |
Shareholder Information:
|
Registered Name: |
Xinjie Investment Co., Ltd (Literal Translation) |
|
Registered Address: |
2F, No. 6, 71 Lane, 177 Alley, 2 Sec, Yuanji
Road, Yuanli Town, Zhanghua County |
|
Date of Foundation: |
2002-3-6 |
|
Registration Number: |
13037796 |
|
Registry: |
MOEA Central Office |
|
Registered Capital: |
NTD 25,000,000 (USD 800,000) (As of 2015.1, 1 NTD = 0.0320USD) |
|
Paid-up Capital: |
NTD 25,000,000 (USD 800,000) |
|
Legal Representatives: |
Jiaqi Fan |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual Return: |
2011-10-11 |
Sales offices
|
1 |
|
|
Address: |
No.56, Zhonggang West Road, Fengshu Village, Taishan Township, Taipei
County |
|
Tel: |
+886-2-22965973 |
|
Fax: |
+886-2-22966405 |
|
2 |
|
|
Address: |
No.431, Dazhong No.1 Road, Zuoying District, Kaoshiung, Taiwan |
|
Tel: |
+886-7-3462270 |
|
Fax: |
+886-7-3415257 |
|
3 |
|
|
Address: |
No.8, Baodao Road, Jingang Town, Zhangjiagang City, Jiangsu Province,
China |
|
Tel: |
+86-512-58386668 |
|
Fax: |
+86-512-58386668 |
|
4 |
|
|
Address: |
No.7768, Zhongchun Road, Minxing District, Shanghai, China |
|
Tel: |
+86-21-54854421 |
|
Fax: |
+86-21-64595793 |
|
5 |
|
|
Address: |
Ja 1, Wuji Road, Zhaoyang District, Beijing, China |
|
Tel: |
+86-10-67376474 |
Factories
|
1 |
|
|
Address: |
No. 122, Industrial Road, Liuzhong Alley, Douliu City, Yunlin County |
|
Date of Foundation: |
1984-11-20 |
|
Date of Registration: |
1986-1-28 |
|
Factory Registration Number: |
99653213 |
|
Factory Manager: |
Bingyao Zhang |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2001-11-23 |
|
Major Products: |
252 Metal structure and building components |
|
2 |
|
|
Name: |
The Second Factory |
|
Address: |
No. 35, Minyou Street, Liuzhong Alley, Douliu City, Yunlin County |
|
Date of Foundation: |
1992-6-4 |
|
Date of Registration: |
1996-3-26 |
|
Factory Registration Number: |
99653216 |
|
Factory Manager: |
Bingyao Zhang |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2001-11-27 |
|
Major Products: |
252 Metal structure and building components |
|
3 |
|
|
Name: |
The Third Factory |
|
Address: |
No. 19, Minle Str., Liuzhong Li, Douliu City, Yunlin County, Taiwan |
|
Date of Registration: |
2008-5-2 |
|
Factory Registration Number: |
99709438 |
|
Factory Manager: |
Bingyao Zhang |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2008-5-2 |
|
Major Products: |
254 Metal process and handling |
|
4 |
|
|
Name: |
Lingong Factory |
|
Address: |
No. 18-5, Zhongyang Lane, Zhongyang Litian, Yuanlin Town, Zhanghua
County |
|
Date of Foundation: |
1998-7-13 |
|
Date of Registration: |
1999-11-16 |
|
Factory Registration Number: |
99645789 |
|
Factory Manager: |
Bingyao Zhang |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2007-6-29 |
|
Major Products: |
241 steels |
Core Management
|
1 |
|
|
Name |
Bingyao Zhang |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Xinjie Investment Co., Ltd (Literal Translation) |
|
Position |
Director |
|
3 |
|
|
Name |
Zongjie Lin |
|
Position |
Director |
|
4 |
|
|
Name |
Zhaojun Lin |
|
Position |
Director |
|
5 |
|
|
Name |
Yizheng Shi |
|
Position |
Director |
|
6 |
|
|
Name |
Rongjian Lian |
|
Position |
Director |
|
7 |
|
|
Name |
Muchuan Xu |
|
Position |
Director |
|
8 |
|
|
Name |
Xiumiao Li |
|
Position |
Supervisor |
|
9 |
|
|
Name |
Shuzhen Qiu |
|
Position |
Supervisor |
|
10 |
|
|
Name |
Yintang Wang |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 580
Employees. (Taiwan) |
Offices &
Factories
|
|
Headquarters |
|
Add |
Production
Information
l
Subject is engaged in manufacturing of stainless
steel products
l
Subject has factories in Taiwan for production.
l
It is introduced that subject obtained
the certification of ISO9001 and ISO-14001.
l
It is introduced the annual production
capacity of the subject is about 120,000 MT.
Purchase
Information
l
The registered activities of subject:
|
No. |
Details |
|
1 |
All kinds of stainless steel pipe, steel pipe,
copper tube, aluminum tube manufacturing business to sell the business |
|
2 |
Steel, copper, aluminum, stainless steel
coil plate rolling processing business |
|
3 |
Stainless steel handrails, doors and Windows,
railings, iron bed, shelves and other products manufacturing processing
business |
|
4 |
Food and chemical industry, rubber,
plastic, papermaking, cement, ceramic and other mechanical equipment
manufacture and repair engineering business |
|
5 |
General import and export trade business
(Except for the futures) |
l Subject’s
components and raw materials for production are mostly purchased in domestic markets.
Sales Information
l Subject is engaged
in sale of stainless steel products
l Subject’s
major products are stainless steel inside polished pipe, stainless steel
equal-leg angle bar, stainless steel coated pipe, stainless steel pie, large
diameter stainless steel pipe, stainless steel mechanical tube, stainless steel
tube for boiler and heat-exchanger, light gauge stainless steel tube for
general service, stainless steel square, and rectangular tube, stainless steel
sanitary tube, stainless steel sheet, plate, and coil
l
It is introduced that subject’s
products sold by the subject are ranged from 0.25 inch to 80 inch in outside
diameter and 0.5mm to 30.0 mm in wall thickness
l Subject’s
products are applied in chemical, petrochemical, automobile, furniture,
construction, and bio-tech industries
l
The sales regions of the subject are domestic
market and abroad such as Europe and America, etc.
Purchase
1.
Domestic Purchase
|
Products |
Components and raw materials, etc. |
|
Payment Terms |
T/T, Cash, etc. |
2.
Import
Subject has little import.
Sales
1.
Domestic Markets
|
Product |
Stainless steel products, etc. |
|
Selling Terms |
T/T, Cash, etc. |
2.
Export
|
Product |
Stainless steel products, etc. |
|
Selling Terms |
L/C, T/T, etc. |
Unit: NTD/000
|
|
2013-12-31 |
2012-12-31 |
|
Assets |
|
|
|
Current assets |
|
|
|
Cash and cash equivalents |
|
|
|
Total cash and cash
equivalents |
1,249,583 |
1,006,652 |
|
Current financial assets at
fair value through profit or loss |
|
|
|
Total current financial assets
at fair value through profit or loss |
14 |
0 |
|
Current available-for-sale
financial assets |
|
|
|
Current available-for-sale
financial assets, net |
8,039 |
6,440 |
|
Notes receivable, net |
|
|
|
Notes receivable, net |
203,601 |
156,498 |
|
Accounts receivable, net |
|
|
|
Accounts receivable, net |
797,872 |
1,048,553 |
|
Accounts receivable due from
related parties, net |
|
|
|
Accounts receivable due from
related parties, net |
622 |
3,289 |
|
Other receivables |
|
|
|
Other receivables, net |
79,939 |
50,709 |
|
Inventories |
|
|
|
Inventories, manufacturing
business |
|
|
|
Inventories, manufacturing
business, net |
4,059,930 |
4,124,098 |
|
Total inventories |
4,059,930 |
4,124,098 |
|
Prepayments |
|
|
|
Total prepayments |
200,846 |
115,737 |
|
Other current assets |
|
|
|
Other current financial assets |
4,400 |
5,792 |
|
Other current assets, others |
278 |
517 |
|
Total other current assets |
4,678 |
6,309 |
|
Total current assets |
6,605,124 |
6,518,285 |
|
Non-current assets |
|
|
|
Property, plant and equipment |
|
|
|
Total property, plant and
equipment |
3,669,297 |
3,645,830 |
|
Deferred tax assets |
210,701 |
223,126 |
|
Other non-current assets |
|
|
|
Prepayments for business
facilities |
531,325 |
492,745 |
|
Guarantee deposits paid |
22,754 |
28,879 |
|
Long-term prepaid rents |
30,666 |
29,698 |
|
Total other non-current assets |
584,745 |
551,322 |
|
Total non-current assets |
4,464,743 |
4,420,278 |
|
Total assets |
11,069,867 |
10,938,563 |
|
Liabilities |
|
|
|
Current liabilities |
|
|
|
Short-term borrowings |
|
|
|
Total short-term borrowings |
3,691,831 |
3,292,016 |
|
Short-term notes and bills
payable |
|
|
|
Total short-term notes and
bills payable |
150,000 |
200,000 |
|
Current financial liabilities
at fair value through profit or loss |
|
|
|
Total current financial
liabilities at fair value through profit or loss |
0 |
555 |
|
Notes payable |
|
|
|
Total notes payable |
29,490 |
36,873 |
|
Accounts payable |
|
|
|
Total accounts payable |
110,333 |
50,113 |
|
Other payables |
|
|
|
Other payables, others |
211,838 |
203,481 |
|
Total other payables |
211,838 |
203,481 |
|
Current tax liabilities |
1,908 |
3,575 |
|
Other current liabilities |
|
|
|
Advance receipts |
|
|
|
Advance sales receipts |
114,231 |
83,259 |
|
Total advance receipts |
114,231 |
83,259 |
|
Long-term liabilities, current
portion |
|
|
|
Long-term borrowings, current
portion |
200,000 |
767,569 |
|
Total long-term liabilities,
current portion |
200,000 |
767,569 |
|
Other current liabilities,
others |
1,869 |
17,290 |
|
Total other current
liabilities |
316,100 |
868,118 |
|
Total current liabilities |
4,511,500 |
4,654,731 |
|
Non-current liabilities |
|
|
|
Long-term borrowings |
|
|
|
Total long-term borrowings |
3,281,017 |
3,163,941 |
|
Deferred tax liabilities |
|
|
|
Total deferred tax liabilities |
96,498 |
89,620 |
|
Other non-current liabilities |
|
|
|
Accrued pension liabilities |
112,294 |
121,381 |
|
Guarantee deposits received |
7,344 |
4,389 |
|
Total other non-current
liabilities |
119,638 |
125,770 |
|
Total non-current liabilities |
3,497,153 |
3,379,331 |
|
Total liabilities |
8,008,653 |
8,034,062 |
|
Equity |
|
|
|
Equity attributable to owners of
parent |
|
|
|
Share capital |
|
|
|
Ordinary share |
2,728,819 |
2,728,819 |
|
Total capital stock |
2,728,819 |
2,728,819 |
|
Capital surplus |
|
|
|
Capital surplus, additional
paid-in capital |
|
|
|
Total capital surplus, additional
paid-in capital |
443,263 |
443,263 |
|
Total capital surplus |
443,263 |
443,263 |
|
Retained earnings |
|
|
|
Legal reserve |
121,142 |
121,142 |
|
Special reserve |
16,566 |
16,566 |
|
Unappropriated retained
earnings (accumulated deficit) |
|
|
|
Total unappropriated retained
earnings (accumulated deficit) |
-122,066 |
-166,358 |
|
Total retained earnings |
15,642 |
-28,650 |
|
Other equity interest |
|
|
|
Total other equity interest |
37,813 |
-74,638 |
|
Treasury shares |
164,323 |
164,323 |
|
Total equity attributable to
owners of parent |
3,061,214 |
2,904,471 |
|
Non-controlling interests |
0 |
30 |
|
Total equity |
3,061,214 |
2,904,501 |
|
Equivalent issue shares of
advance receipts for ordinary share |
0 |
0 |
|
Number of shares in entity held
by entity and by its subsidiaries |
15,774,000 |
15,774,000 |
Unit: NTD/000
|
|
2013 |
2012 |
|
Operating revenue |
|
|
|
Net sales revenue |
|
|
|
Net sales revenue |
12,983,533 |
15,015,917 |
|
Total operating revenue |
12,983,533 |
15,015,917 |
|
Operating costs |
|
|
|
Total operating costs |
11,998,244 |
14,424,272 |
|
Gross profit (loss) from
operations |
985,289 |
591,645 |
|
Gross profit (loss) from
operations |
985,289 |
591,645 |
|
Operating expenses |
|
|
|
Selling expenses |
|
|
|
Total selling expenses |
609,532 |
650,740 |
|
Administrative expenses |
|
|
|
Total administrative expenses |
195,811 |
203,723 |
|
Total operating expenses |
805,343 |
854,463 |
|
Net operating income (loss) |
179,946 |
-262,818 |
|
Non-operating income and
expenses |
|
|
|
Other income |
|
|
|
Total other income |
12,373 |
11,406 |
|
Other gains and losses |
|
|
|
Foreign exchange gains |
44,526 |
21,548 |
|
Miscellaneous disbursements |
4,794 |
1,364 |
|
Other gains and losses, net |
39,732 |
20,184 |
|
Finance costs |
|
|
|
Interest expense |
158,668 |
168,677 |
|
Finance costs, net |
158,668 |
168,677 |
|
Total non-operating income and
expenses |
-106,563 |
-137,087 |
|
Profit (loss) from continuing
operations before tax |
73,383 |
-399,905 |
|
Tax expense (income) |
|
|
|
Total tax expense (income) |
35,684 |
-44,798 |
|
Profit (loss) from continuing
operations |
37,699 |
-355,107 |
|
Profit (loss) |
37,699 |
-355,107 |
|
Other comprehensive income |
|
|
|
Exchange differences on
translation |
111,886 |
-74,077 |
|
Unrealized gains (losses) on
valuation of available-for-sale financial assets |
565 |
12,773 |
|
Actuarial gains (losses) on
defined benefit plans |
8,426 |
2,534 |
|
Income tax related to
components of other comprehensive income |
1,863 |
0 |
|
Other comprehensive income,
net |
119,014 |
-58,770 |
|
Total comprehensive income |
156,713 |
-413,877 |
|
Profit (loss), attributable
to: |
|
|
|
Profit (loss), attributable to
owners of parent |
37,729 |
-355,088 |
|
Profit (loss), attributable to
non-controlling interests |
-30 |
-19 |
|
Comprehensive income
attributable to: |
|
|
|
Comprehensive income,
attributable to owners of parent |
156,743 |
-413,859 |
|
Comprehensive income,
attributable to non-controlling interests |
-30 |
-18 |
|
Basic earnings per share |
|
|
|
Basic earnings (loss) per
share from continuing operations |
0.15 |
-1.35 |
|
Total basic earnings per share |
0.15 |
-1.35 |
Unit: NTD/000
|
|
2013 |
2012 |
|
Cash flows from (used in) operating activities, indirect method |
|
|
|
Profit (loss) from continuing operations before tax |
73,383 |
-399,905 |
|
Profit (loss) before tax |
73,383 |
-399,905 |
|
Adjustments |
|
|
|
Adjustments to reconcile profit (loss) |
|
|
|
Depreciation expense |
216,686 |
243,479 |
|
Amortization expense |
743 |
812 |
|
Provision (reversal of provision) for bad debt expense |
4,671 |
-2,689 |
|
Interest expense |
158,668 |
168,677 |
|
Interest income |
-3,269 |
-2,350 |
|
Loss (gain) on disposal of property, plan and equipment |
2,642 |
208 |
|
Loss (gain) on disposal of investments |
-105 |
-3,881 |
|
Reversal of impairment loss on non-financial assets |
-107,675 |
-1,247 |
|
Unrealized foreign exchange loss (gain) |
-3,331 |
-2,755 |
|
Total adjustments to reconcile profit (loss) |
269,030 |
400,254 |
|
Changes in operating assets and liabilities |
|
|
|
Changes in operating assets |
|
|
|
Decrease (increase) in financial assets held for trading |
-569 |
555 |
|
Decrease (increase) in notes receivable |
-45,749 |
67,840 |
|
Decrease (increase) in accounts receivable |
275,829 |
-26,221 |
|
Decrease (increase) in other receivable |
-28,349 |
26,822 |
|
Decrease (increase) in inventories |
202,084 |
1,712,938 |
|
Decrease (increase) in prepayments |
-85,710 |
92,008 |
|
Decrease (increase) in other current assets |
3,616 |
22,280 |
|
Total changes in operating assets |
321,152 |
1,896,222 |
|
Changes in operating liabilities |
|
|
|
Increase (decrease) in notes payable |
-7,383 |
-8,663 |
|
Increase (decrease) in accounts payable |
46,950 |
-6,667 |
|
Increase (decrease) in other payable |
519 |
21,695 |
|
Increase (decrease) in receipts in advance |
31,092 |
-40,713 |
|
Increase (decrease) in other current liabilities |
-3,455 |
-16,819 |
|
Increase (decrease) in accrued pension liabilities |
-661 |
-260 |
|
Total changes in operating liabilities |
67,062 |
-51,427 |
|
Total changes in operating assets and liabilities |
388,214 |
1,844,795 |
|
Total adjustments |
657,244 |
2,245,049 |
|
Cash inflow (outflow) generated from operations |
730,627 |
1,845,144 |
|
Interest received |
3,269 |
2,350 |
|
Interest paid |
-157,792 |
-176,651 |
|
Income taxes refund (paid) |
-19,949 |
-3,595 |
|
Net cash flows from (used in) operating activities |
556,155 |
1,667,248 |
|
Cash flows from (used in) investing activities |
|
|
|
Acquisition of available-for-sale financial assets |
-11,070 |
-11,000 |
|
Proceeds from disposal of available-for-sale financial assets |
10,141 |
144,001 |
|
Acquisition of property, plant and equipment |
-96,837 |
-143,762 |
|
Proceeds from disposal of property, plant and equipment |
37,180 |
9 |
|
Decrease in refundable deposits |
6,125 |
-10,814 |
|
Increase in other financial assets |
1,392 |
-5,792 |
|
Increase in prepayments for business facilities |
-178,296 |
-118,214 |
|
Net cash flows from (used in) investing activities |
-231,365 |
-145,572 |
|
Cash flows from (used in) financing activities |
|
|
|
Increase in short-term loans |
401,296 |
-575,995 |
|
Decrease in short-term notes and bills payable |
-50,000 |
100,000 |
|
Proceeds from long-term debt |
3,200,000 |
200,000 |
|
Repayments of long-term debt |
-3,650,493 |
-933,942 |
|
Increase in guarantee deposits received |
2,830 |
246 |
|
Payments to acquire treasury shares |
0 |
-151,663 |
|
Net cash flows from (used in) financing activities |
-96,367 |
-1,361,354 |
|
Effect of exchange rate changes on cash and cash equivalents |
14,508 |
-14,764 |
|
Net increase (decrease) in cash and cash equivalents |
242,931 |
145,558 |
|
Cash and cash equivalents at beginning of period |
1,006,652 |
861,094 |
|
Cash and cash equivalents at end of period |
1,249,583 |
1,006,652 |
|
Cash and cash equivalents reported in the statement of financial
position |
1,249,583 |
1,006,652 |
Note: Subject did not submit the latest independent financial information to the official registry. We only provide the above consolidate financial information of the subject for your reference, which is based on the IFRSs Accounting System.
Subject declined to disclose its bank details
stating that it is the confidential information of subject, from other source,
we can not obtain it, either.
Mortgage
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
107613 |
|
Debtor Name: |
Froch Enterprise Co., Ltd |
|
Document Number: |
10231319330 |
|
Date of Registration: |
2013/4/15 |
Lawsuit
Up to date of reporting, no existing or latent litigation of the subject has been found.
|
Name |
Ms. Wang |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.39 |
|
UK Pound |
1 |
Rs.96.72 |
|
Euro |
1 |
Rs.75.80 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MNL |
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.