|
Report No. : |
329716 |
|
Report Date : |
03.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
TA CHEN STAINLESS PIPE CO., LTD. |
|
|
|
|
Registered Office : |
No.125, Hsin Tien 2nd St., Jeng-Teh, Tainan |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
27.11.1986 |
|
|
|
|
Com. Reg. No.: |
22318348 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture and sales of stainless steel products |
|
|
|
|
No. of Employees : |
About 4,000 Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Taiwan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
TAIWAN ECONOMIC OVERVIEW
Taiwan has a dynamic capitalist economy with gradually decreasing government guidance of investment and foreign trade. Exports, led by electronics, machinery, and petrochemicals have provided the primary impetus for economic development. This heavy dependence on exports exposes the economy to fluctuations in world demand. Taiwan's diplomatic isolation, low birth rate, and rapidly aging population are other major long-term challenges. Free trade agreements have proliferated in East Asia over the past several years, and following the landmark Economic Cooperation Framework Agreement (ECFA) signed with China in June 2010, Taiwan in July 2013 signed a free trade deal with New Zealand—Taipei’s first-ever with a country with which it does not maintain diplomatic relations—and in November inked a trade pact with Singapore. However, follow-on components of ECFA, including a signed agreement on trade in services, negotiations 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 under 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 fifth largest, behind those of China, Japan, Saudi Arabia, 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, 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 decent entry-level jobs.
|
Source
: CIA |
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
|
|
Supplied Address: |
|
|
Telephone Number: |
+886-6-270-1756/270-1757/279-8815 |
|
Fax Number: |
Notes: The exact name and address are as above. The supplied address is
subject’s registered address.
|
Credit Opinion: |
|
Registered Name: |
Ta Chen Stainless Pipe Co., Ltd. |
|
Registered Address: |
No.125, Hsin Tien 2nd St., Jeng-Teh, Tainan,
Taiwan R.O.C. |
|
Date of Foundation: |
1986-11-27 |
|
Registration Number: |
22318348 |
|
Registry: |
Department of Commerce, Ministry
of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 8,000,000,000 (USD 256,000,000) (As of 2015.7, 1 NTD = 0.0320 USD) |
|
Paid-up Capital: |
NTD 7,770,970,160 (USD 248,671,045.12) |
|
Legal Representatives: |
Liyun Xie |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject was incorporated on 1986-11-27 with registered number 22318348 as Joint Stock Company in Taiwan.
Subject was listed at Taiwan Stock Exchange on 1996-10-24
Factories
|
1 |
|
|
Address: |
No.19, Xinghua Rd., Lin 1, Dalian Li,
Taoyuan Dist., Taoyuan City, Taiwan, R.O.C. |
|
Date of Registration: |
2014-11-17 |
|
Factory Registration Number: |
03002560 |
|
Factory Manager: |
Liyun Xie |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2014-11-17 |
|
Major Products: |
254 metal processing |
|
2 |
|
|
Address: |
No.125, Hsin Tien 2nd St., Jeng-Teh, Tainan,
Taiwan R.O.C. |
|
Date of Foundation: |
1986-12-11 |
|
Date of Registration: |
1987-4-7 |
|
Factory Registration Number: |
99660275 |
|
Factory Manager: |
Liyun Xie |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2010-8-12 |
|
Major Products: |
241 steel and iron |
|
3 |
|
|
Name: |
Ta Chen Stainless Pipe Co., Ltd. Third
Factory |
|
Address |
Building A, No. 122, Yilin Rd., Xintian Li,
Rende Dist., Tainan City, Taiwan |
|
Date of Registration: |
2006-12-21 |
|
Factory Registration Number: |
99709689 |
|
Factory Manager: |
Liyun Xie |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2010-8-12 |
|
Major Products: |
249 other basic metals |
Office
|
Name: |
Taipei Sales Office |
|
Address: |
5F-3,NO.36,Lane 48, Sec.3, Nanking East
Road, Taipei, Taiwan |
|
Telephone No.: |
+886-2-2506-7067 |
|
Fax No.: |
+886-2-2501-3725 |
Group Companies Locations in China
|
Shijiazhuang
Ji-Tai Precision Casting Co.,
Ltd. Production
Capability: 150 tons / month NO.379 Heping
East Road Shijiazhuang, Hebei P.R. China Tel:
+86-311-87225850 Ta Chen
(Baoding) Precision Casting Co.,
Ltd. Production
Capability: 180 tons / month Xian Cheng Hou
Street, Baoding City, Boye County, Hebei 071300 P.R. China Tel:
+86-312-832-6499 Ta Chen (Boye)
Precision Casting Co., Ltd. Production
Capability: 150 tons / month Bo Xing Middle
Road, Baoding City, Boye County, Hebei 071300 P.R. China Tel:
+86-312-871-9285 Ta Chen
(Changshu) Machinery Co.,
Ltd. Production
Capability: 160 tons / month Haiyang Road
Haiyu Town Changshu, Jiangsu 215519, P.R. China Tel: +86-512-5256 -5588 |
Group Companies
Locations in USA
|
Los Angeles Warehouse (Obispo) (USA Headquarters) 91,900 Sq Ft 5855 Obispo Ave. Long Beach, CA. 90805 Toll free: 800-364-8389 Tel: +562-808-8000 Fax: +562-808-8104 Los Angeles Warehouse (Cherry) 166,000 Sq Ft 6979 Cherry Ave. Long Beach, CA. 90805 Tel: +562-633-7388 Fax: +562-634-2514 Seattle Warehouse 122,500 Sq Ft 11101 S. Tacoma Way, Suite C Lakewood, WA. 98499 Tel: +253-584-2161 Fax: +253-584-1689 Houston Warehouse 226,266 Sq Ft 9525 Wallisville Road Houston, TX. 77013 Toll free: 800-310-2003 Tel: +713-672-0177 Fax: +713-673-6675 TSA Processing (Outside Processor-TCI Flat Rolled Storage) 1625 W. Sam Houston Pkwy N. Houston, TX. 77043 Tel: +713-467-9800 Chicago Warehouse 215,000 Sq Ft 5650 Centerpoint Court Gurnee, IL. 60031 Toll free: 800-580-1070 Tel: +847-816-6775 Fax: +847-816-7503 Cleveland Warehouse 87,205 Sq Ft 1214 Marquette St. Cleveland, OH. 44114 Tel: +216-432-9252 Fax: +216-432-9324 Atlanta Warehouse 156,920 Sq Ft 2995 Evergreen Dr. Suite 100 Duluth, GA. 30096 Toll free: 888-756-1234 Tel: +770-814-9212 Fax: +770-814-7053 Lakeland Warehouse 195,263 Sq Ft 6870 Firstpark Blvd. Suite 150 Lakeland, FL. 33805 Toll free: 800-705-1464 Tel: +863-874-3108 Fax: +863-874-3109 Burlington Warehouse 103,508 Sq Ft 500 Richards Run Unit 3 Burlington, NJ. 08016 Toll free: 888-824-0059 Tel: +609-239-6000 Fax: +609-239-5600 TCI Stainless & Aluminum Park 80 West 250 Pehle Ave, Suite
110 Saddle Brook, NJ. 07663 Tel: +201-845-3333 Fax: +201-845-3335 UTS Baltimore (Outside Processor-TCI Coil Storage) 4000 Beachwood Road Baltimore, MD. 21222 Tel: +410-477-8353 |
Major Shareholders
|
Name |
Subscription Shares |
|
Liyun Xie |
21,308,647 |
|
Rigid Industrial Co., Ltd |
9,607,127 |
|
Rongkun Xie |
28,618,825 |
|
Shixian Tu |
4,164,695 |
|
Zhaojin Cai |
2,207,735 |
|
Taipei City Lin Fangjin Social Welfare
Charity Foundation (Literal Translation) |
2,662,000 |
|
Ronghui Xie |
3,118,112 |
Shareholder
Information:
|
Registered Name: |
|
|
Registered Address: |
No. 8, Meizhuang Rd., Renmei Li, Wusong
Dist., Kaohsiung, Taiwan |
|
Date of Foundation: |
1976-2-11 |
|
Registration Number: |
83744344 |
|
Registry: |
Economic Development Bureau, Kaohsiung City |
|
Registered Capital: |
NTD 391,181,160 (USD 12,517,797.12) (As of 2015.7, 1 NTD = 0.0320 USD) |
|
Paid-up Capital: |
NTD 391,181,160 (USD 12,517,797.12) |
|
Legal Representatives: |
Yilan Ou |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-8-25 |
Core Management
Directors
|
1 |
|
|
Name |
Liyun Xie |
|
Position |
Chairman of the Board |
|
2 |
|
|
Name |
Yilan Ou |
|
Position |
Director |
|
3 |
|
|
Name |
Rongkun Xie |
|
Position |
Director |
|
4 |
|
|
Name |
Shixian Tu |
|
Position |
Director |
|
5 |
|
|
Name |
Zhaojin Cai |
|
Position |
Director |
|
6 |
|
|
Name |
Ronghui Xie |
|
Position |
Supervisor |
|
7 |
|
|
Name |
Meifeng Lin |
|
Position |
Supervisor |
|
8 |
|
|
Name |
Rongkun Xie |
|
Position |
Manager |
|
Date of Appointment |
2002-6-25 |
Personnel Structure
|
Total Employees |
About 4,000
Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
Production Information
l
Subject is engaged in manufacturing of stainless
products, etc.
l
Subject has three factories in Taiwan for
production.
l
Subject obtained the certification of ISO 9001 and
CNS 12681.
The production
capability of subject’s Tainan Factory is as follows:
|
Product |
Production capability |
|
Flat bar |
650 tons/months |
|
Valve |
100 tons/months |
|
Welded pipe |
3000tons/month |
|
Structural tubing |
1100 tons/months |
Purchase Information
l
The registered activities of subject:
|
Business Code |
Details |
|
ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
l
The raw materials for production are purchased both
at home and abroad
l Subject is mainly
engaged in sale of stainless steel products, etc.
l
The major products of the subject include stainless
steel pipes, stainless steel welding pipe fittings and stainless globe valves,
etc.
l
It is introduced that subject also involves in the
trading of steel plates and steel rods.
l
It is introduced that subject’s products are mainly
exported to its related companies in USA and it is introduced that the
subject’s market
share is about 10% in stainless steel trade market of USA.
l
The major sales regions of the subject also include
domestic market, Japan, Korea, Southeast Asia, Europe, America, Australia, etc.
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
1.
Domestic Purchase
|
Products |
Raw materials |
|
Payment Terms |
T/T, Cash, etc. |
2.
Import
|
Products |
Raw materials |
|
Payment Terms |
L/C, T/T, etc. |
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
|
Consolidated |
2014-12-31 |
2013-12-31 |
|
Assets |
|
|
|
Current assets |
|
|
|
Cash and cash
equivalents |
|
|
|
Total cash and cash
equivalents |
1,980,940 |
1,828,222 |
|
Current financial
assets at fair value through profit or loss |
|
|
|
Total current financial
assets at fair value through profit or loss |
122,607 |
20,124 |
|
Current
available-for-sale financial assets |
|
|
|
Current
available-for-sale financial assets, net |
100,381 |
123,195 |
|
Current derivative
financial assets for hedging |
31,267 |
0 |
|
Notes receivable, net |
|
|
|
Notes receivable, net |
18,388 |
36,695 |
|
Accounts receivable,
net |
|
|
|
Accounts receivable,
net |
3,974,090 |
3,138,740 |
|
Other receivables |
|
|
|
Other receivables, net |
144,393 |
125,301 |
|
Current tax assets |
|
|
|
Total current tax
assets |
750 |
19,174 |
|
Inventories |
|
|
|
Total inventories |
27,842,367 |
22,433,127 |
|
Prepayments |
|
|
|
Total prepayments |
1,496,914 |
1,149,106 |
|
Other current assets |
|
|
|
Other current financial
assets |
1,472,749 |
1,349,469 |
|
Other current assets,
others |
2,393 |
2,726 |
|
Total other current
assets |
1,475,142 |
1,352,195 |
|
Total current assets |
37,187,239 |
30,225,879 |
|
Non-current assets |
|
|
|
Derivative non-current
financial assets for hedging |
0 |
15,890 |
|
Non-current financial
assets at cost |
|
|
|
Non-current financial
assets at cost, net |
20,691 |
24,300 |
|
Property, plant and
equipment |
|
|
|
Total property, plant
and equipment |
5,398,734 |
4,907,030 |
|
Investment property,
net |
|
|
|
Investment property,
net |
274,043 |
294,364 |
|
Intangible assets |
|
|
|
Goodwill |
137,320 |
106,960 |
|
Other intangible
assets, net |
|
|
|
Other intangible
assets, net |
419,629 |
418,859 |
|
Total intangible assets |
556,949 |
525,819 |
|
Deferred tax assets |
1,241,456 |
1,405,431 |
|
Other non-current
assets |
|
|
|
Other non-current
financial assets |
|
|
|
Total other non-current
financial assets |
429,430 |
476,548 |
|
Other non-current
assets, others |
|
|
|
Total other non-current
assets, others |
471,389 |
388,792 |
|
Total other non-current
assets |
900,819 |
865,340 |
|
Total non-current
assets |
8,392,692 |
8,038,174 |
|
Total assets |
45,579,931 |
38,264,053 |
|
Liabilities |
|
|
|
Current liabilities |
|
|
|
Short-term borrowings |
|
|
|
Total short-term
borrowings |
8,466,171 |
6,835,614 |
|
Short-term notes and
bills payable |
|
|
|
Total short-term notes
and bills payable |
367,809 |
229,896 |
|
Current financial liabilities
at fair value through profit or loss |
|
|
|
Total current financial
liabilities at fair value through profit or loss |
71,996 |
26,223 |
|
Current derivative
financial liabilities for hedging |
18,843 |
6,230 |
|
Notes payable |
|
|
|
Total notes payable |
342,654 |
73,440 |
|
Accounts payable |
|
|
|
Total accounts payable |
1,650,309 |
1,064,361 |
|
Accounts payable to
related parties |
|
|
|
Total accounts payable
to related parties |
121,668 |
156,578 |
|
Other payables |
|
|
|
Total other payables |
892,820 |
509,953 |
|
Current tax liabilities |
268,910 |
81,230 |
|
Other current
liabilities |
|
|
|
Long-term liabilities,
current portion |
|
|
|
Long-term borrowings,
current portion |
1,476,406 |
551,013 |
|
Total long-term liabilities,
current portion |
1,476,406 |
551,013 |
|
Other current
liabilities, others |
67,301 |
76,490 |
|
Total other current
liabilities |
1,543,707 |
627,503 |
|
Total current
liabilities |
13,744,887 |
9,611,028 |
|
Non-current liabilities |
|
|
|
Non-current derivative
financial liabilities for hedging |
81,101 |
737 |
|
Long-term borrowings |
|
|
|
Long-term bank loans |
15,012,841 |
14,301,068 |
|
Total long-term
borrowings |
15,012,841 |
14,301,068 |
|
Deferred tax
liabilities |
|
|
|
Total deferred tax
liabilities |
124,869 |
109,730 |
|
Other non-current
liabilities |
|
|
|
Accrued pension
liabilities |
10,414 |
39,596 |
|
Other non-current
liabilities, others |
95,433 |
94,875 |
|
Total other non-current
liabilities |
105,847 |
134,471 |
|
Total non-current
liabilities |
15,324,658 |
14,546,006 |
|
Total liabilities |
29,069,545 |
24,157,034 |
|
Equity |
|
|
|
Equity attributable to
owners of parent |
|
|
|
Share capital |
|
|
|
Ordinary share |
7,770,970 |
7,770,970 |
|
Total capital stock |
7,770,970 |
7,770,970 |
|
Capital surplus |
|
|
|
Total capital surplus |
715,082 |
1,148,888 |
|
Retained earnings |
|
|
|
Legal reserve |
878,302 |
878,302 |
|
Special reserve |
174,436 |
930,556 |
|
Unappropriated retained
earnings (accumulated deficit) |
|
|
|
Total unappropriated
retained earnings (accumulated deficit) |
2,372,494 |
-212,930 |
|
Total retained earnings |
3,425,232 |
1,595,928 |
|
Other equity interest |
|
|
|
Total other equity
interest |
468,956 |
-174,436 |
|
Treasury shares |
0 |
276,570 |
|
Total equity
attributable to owners of parent |
12,380,240 |
10,064,780 |
|
Non-controlling
interests |
4,130,146 |
4,042,239 |
|
Total equity |
16,510,386 |
14,107,019 |
|
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 |
19,013,000 |
Unit: NTD/000
|
Consolidated |
2014 |
2013 |
|
Operating revenue |
|
|
|
Total operating revenue |
50,811,759 |
38,609,467 |
|
Operating costs |
|
|
|
Total operating costs |
41,913,361 |
33,988,268 |
|
Gross profit (loss)
from operations |
8,898,398 |
4,621,199 |
|
Gross profit (loss)
from operations |
8,898,398 |
4,621,199 |
|
Operating expenses |
|
|
|
Selling expenses |
|
|
|
Total selling expenses |
1,920,626 |
1,463,193 |
|
Administrative expenses |
|
|
|
Total administrative
expenses |
3,580,546 |
2,500,103 |
|
Total operating
expenses |
5,501,172 |
3,963,296 |
|
Net other income
(expenses) |
|
|
|
Net other income
(expenses) |
7,352 |
-3,454 |
|
Net operating income
(loss) |
3,404,578 |
654,449 |
|
Non-operating income
and expenses |
|
|
|
Other income |
|
|
|
Total other income |
118,616 |
119,265 |
|
Other gains and losses |
|
|
|
Other gains and losses,
net |
-46,643 |
370,512 |
|
Finance costs |
|
|
|
Finance costs, net |
562,241 |
608,005 |
|
Total non-operating
income and expenses |
-490,268 |
-118,228 |
|
Profit (loss) from continuing
operations before tax |
2,914,310 |
536,221 |
|
Tax expense (income) |
|
|
|
Total tax expense
(income) |
783,277 |
218,882 |
|
Profit (loss) from
continuing operations |
2,131,033 |
317,339 |
|
Profit (loss) |
2,131,033 |
317,339 |
|
Other comprehensive
income |
|
|
|
Exchange differences on
translation |
909,338 |
231,250 |
|
Unrealized gains
(losses) on valuation of available-for-sale financial assets |
18,316 |
-98,395 |
|
Cash flow hedges |
-97,368 |
15,985 |
|
Actuarial gains (losses)
on defined benefit plans |
-37,614 |
469 |
|
Other comprehensive
income |
5,991 |
-319 |
|
Other comprehensive
income, net |
798,663 |
148,990 |
|
Total comprehensive
income |
2,929,696 |
466,329 |
|
Profit (loss),
attributable to: |
|
|
|
Profit (loss),
attributable to owners of parent |
1,885,199 |
222,305 |
|
Profit (loss),
attributable to non-controlling interests |
245,834 |
95,034 |
|
Comprehensive income
attributable to: |
|
|
|
Comprehensive income,
attributable to owners of parent |
2,497,371 |
380,483 |
|
Comprehensive income,
attributable to non-controlling interests |
432,325 |
85,846 |
|
Basic earnings per
share |
|
|
|
Basic earnings (loss)
per share from continuing operations |
2.44 |
0.29 |
|
Total basic earnings
per share |
2.44 |
0.29 |
|
Diluted earnings per
share |
|
|
|
Diluted earnings (loss)
per share from continuing operations |
2.44 |
0.29 |
|
Total diluted earnings
per share |
2.44 |
0.29 |
Unit: NTD/000
|
Consolidated |
2014 |
2013 |
|
Cash flows from (used in)
operating activities, indirect method |
|
|
|
Profit (loss) from
continuing operations before tax |
2,914,310 |
536,221 |
|
Profit (loss) before
tax |
2,914,310 |
536,221 |
|
Adjustments |
|
|
|
Adjustments to
reconcile profit (loss) |
|
|
|
Depreciation expense |
475,717 |
451,607 |
|
Amortization expense |
31,669 |
6,167 |
|
Provision (reversal of
provision) for bad debt expense |
1,078 |
864 |
|
Interest expense |
562,241 |
608,005 |
|
Interest income |
-18,807 |
-13,155 |
|
Share-based payments |
48,483 |
0 |
|
Loss (gain) on disposal
of property, plan and equipment |
-5,546 |
-11,905 |
|
Loss (gain) on disposal
of investment properties |
-1,311 |
0 |
|
Loss (gain) on disposal
of investments |
11,817 |
-73,974 |
|
Impairment loss on non-financial
assets |
-163,031 |
168,950 |
|
Unrealized foreign
exchange loss (gain) |
67,382 |
-130,465 |
|
Total adjustments to
reconcile profit (loss) |
1,009,692 |
1,006,094 |
|
Changes in operating
assets and liabilities |
|
|
|
Changes in operating assets |
|
|
|
Decrease (increase) in
financial assets held for trading |
-102,483 |
54,587 |
|
Decrease (increase) in
derivative financial assets for hedging |
-14,393 |
0 |
|
Decrease (increase) in
notes receivable |
18,307 |
-10,792 |
|
Decrease (increase) in
accounts receivable |
-698,040 |
-441,770 |
|
Decrease (increase) in
other receivable |
-48,628 |
-21,045 |
|
Decrease (increase) in
inventories |
-4,180,599 |
-1,232,178 |
|
Decrease (increase) in
prepayments |
-347,808 |
-384,752 |
|
Decrease (increase) in
other current assets |
333 |
-867 |
|
Total changes in
operating assets |
-5,373,311 |
-2,036,817 |
|
Changes in operating
liabilities |
|
|
|
Increase (decrease) in
financial liabilities held for trading |
45,773 |
-21,510 |
|
Increase (decrease) in
derivative financial liabilities for hedging |
-5,142 |
-20,438 |
|
Increase (decrease) in
notes payable |
246,988 |
-16,762 |
|
Increase (decrease) in
accounts payable |
585,948 |
330,776 |
|
Increase (decrease) in accounts
payable to related parties |
-34,910 |
28,108 |
|
Increase (decrease) in
other payable |
376,073 |
-14,579 |
|
Increase (decrease) in
other current liabilities |
-5,733 |
6,495 |
|
Increase (decrease) in
accrued pension liabilities |
-39,596 |
285 |
|
Total changes in
operating liabilities |
1,169,401 |
292,375 |
|
Total changes in
operating assets and liabilities |
-4,203,910 |
-1,744,442 |
|
Total adjustments |
-3,194,218 |
-738,348 |
|
Cash inflow (outflow)
generated from operations |
-279,908 |
-202,127 |
|
Income taxes refund
(paid) |
-471,783 |
37,322 |
|
Net cash flows from
(used in) operating activities |
-751,691 |
-164,805 |
|
Cash flows from (used
in) investing activities |
|
|
|
Acquisition of
available-for-sale financial assets |
-181,609 |
-173,820 |
|
Proceeds from disposal
of available-for-sale financial assets |
216,863 |
307,312 |
|
Acquisition of
financial assets at cost |
-6,500 |
0 |
|
Proceeds from capital
reduction of financial assets at cost |
10,109 |
2,700 |
|
Acquisition of property,
plant and equipment |
-369,605 |
-496,610 |
|
Proceeds from disposal
of property, plant and equipment |
12,794 |
28,482 |
|
Increase in refundable
deposits |
-17,929 |
-13,997 |
|
Increase in other
receivables |
0 |
-58,654 |
|
Decrease in other receivables |
59,639 |
0 |
|
Acquisition of
intangible assets |
-30,008 |
-524,453 |
|
Proceeds from disposal
of investment properties |
37,235 |
0 |
|
Increase in other
financial assets |
-76,162 |
-37,384 |
|
Increase in other
non-current assets |
0 |
-12,038 |
|
Decrease in other
non-current assets |
108 |
0 |
|
Increase in prepayments
for business facilities |
-448,510 |
-140,158 |
|
Interest received |
17,769 |
12,639 |
|
Net cash flows from
(used in) investing activities |
-775,806 |
-1,105,981 |
|
Cash flows from (used
in) financing activities |
|
|
|
Increase in short-term
loans |
22,952,009 |
25,828,597 |
|
Decrease in short-term
loans |
-21,227,985 |
-25,429,545 |
|
Increase in short-term
notes and bills payable |
1,095,840 |
1,140,331 |
|
Decrease in short-term
notes and bills payable |
-960,000 |
-1,290,000 |
|
Proceeds from long-term
debt |
38,594,637 |
41,989,466 |
|
Repayments of long-term
debt |
-37,675,866 |
-41,332,720 |
|
Cash dividends paid |
-466,258 |
-137,834 |
|
Treasury shares sold to
employees |
275,939 |
0 |
|
Interest paid |
-515,156 |
-556,708 |
|
Change in
non-controlling interests |
-415,713 |
1,633,682 |
|
Other financing
activities |
5,281 |
-15,206 |
|
Net cash flows from
(used in) financing activities |
1,662,728 |
1,830,063 |
|
Effect of exchange rate
changes on cash and cash equivalents |
17,487 |
25,893 |
|
Net increase (decrease)
in cash and cash equivalents |
152,718 |
585,170 |
|
Cash and cash
equivalents at beginning of period |
1,828,222 |
1,243,052 |
|
Cash and cash
equivalents at end of period |
1,980,940 |
1,828,222 |
|
Cash and cash
equivalents reported in the statement of financial position |
1,980,940 |
1,828,222 |
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
|
Status: |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
102871 |
|
Debtor Name: |
Ta Chen Stainless Pipe Co., Ltd. |
|
Document Number: |
10030310570 |
|
Date of Registration: |
2011-2-15 |
|
Date of Alteration: |
Not Stated |
Lawsuit
Up to date of reporting, no existing or latent litigation of the subject has been found.
Interview Details
|
Name |
Mr. Zhang |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.57 |
|
|
1 |
Rs. 99.20 |
|
Euro |
1 |
Rs. 70.35 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
DPT |
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.