|
Report No. : |
312772 |
|
Report Date : |
20.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
CHINA STEEL GLOBAL TRADING CORPORATION |
|
|
|
|
Registered Office : |
10F., No. 88, Cheng Gong 2nd Rd., Qian Zhen
District, Kaohsiung City 80661 |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
30.09.2014 (Consolidated) |
|
|
|
|
Date of Incorporation : |
02.04.1996 |
|
|
|
|
Com. Reg. No.: |
96975583 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
engaged in trading of Steel Products including Stainless Steel Products, Aluminum Products, Work Roll & Fire-Retardant Materials |
|
|
|
|
No of Employees : |
About 9,000 Employees (China Steel
Corporation – Parent Company) |
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: |
10F., No. 88,
Cheng Gong 2nd Rd., Qian Zhen District, Kaohsiung City 80661, Taiwan (R.O.C.) |
|
Supplied Address: |
|
|
Telephone Number: |
+886-7-332-2168 |
|
Fax Number: |
Notes: The exact
address is as above, and it is introduced that the supplied address is
subject’s former address.
|
Credit Opinion: |
|
Registered Name: |
China Steel Global Trading Corporation |
|
Registered Address: |
10F., No. 88, Cheng Gong 2nd Rd., Qian Zhen
District, Kaohsiung City 80661, Taiwan (R.O.C.) |
|
Date of Foundation: |
1996-4-2 |
|
Registration Number: |
96975583 |
|
Registry: |
Department of Commerce,
Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 2,500,000,000 (USD 78,750,000) (As of 2015., 1 NTD = 0.0315 USD) |
|
Paid-up Capital: |
NTD 1,788,298,300 (USD 56,331,396.45) |
|
Legal Representatives: |
Jigang Liu |
|
Legal Form: |
|
|
Principal Activities: |
engaged in trading
of Steel Products including Stainless Steel Products, Aluminum Products, Work
Roll & Fire-Retardant Materials |
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Note: Subject declined
to disclose the number of staff, and from other source we cannot obtain the
information, either.
Subject was incorporated on 1996-4-2
with registered number 96975583 as Joint Stock Company in Taiwan.
Change of Address
|
Former Address |
31F., No.8, Mincyuan 2nd Rd., Cianjhen
District, Kaohsiung City 806, Taiwan (R.O.C.) |
|
Current Address |
10F., No. 88, Cheng Gong 2nd Rd., Qian Zhen
District, Kaohsiung City 80661, Taiwan (R.O.C.) |
Parent Company
|
Registered Name: |
China Steel Corporation |
|
Registered Address: |
No.1, Chung Kang Road, Lin Hai Ind. Dist., Hsiao
Kang, Kaohsiung 81233, Taiwan, R.O.C. |
|
Telephone Number: |
+886-7-802-1111 |
|
Fax Number: |
+886-7-802-2511 |
|
Date of Foundation: |
1971-12-3 |
|
Registration Number: |
30414175 |
|
Registry: |
Joint Stock Company |
|
Registered Capital: |
NTD 170,000,000,000 (USD 5,355,000,000) (As of 2015.3, 1 NTD = 0.0315 USD) |
|
Paid-up Capital: |
NTD 157,731,289,960 (USD 4,968,535,633.74) |
|
Legal Representatives: |
Ruoqi Zou |
|
Legal Form: |
Joint Stock Company |
|
Principal Activities: |
Manufacturing and sale of various steel products, including plate
products, steel bars, wire rod products, hot rolled products, cold rolled
products, electro galvanizing steel products, hot-dip galvanizing steel
products and electromagnetic steel sheets. |
|
Staff: |
About 9,000 Employees |
|
Listed at Stock Exchange: |
Yes; (Public, TPE:2002) |
|
Date of Last Annual Return: |
2014-9-2 |
Related Companies:
|
CHUNG HONG STEEL Address: 317, Yu Liao Road, Chiao Tou District,
Kaohsiung City 82544, Taiwan, R.O.C. Tel: +886-7-611-7171 (10 lines) Fax: +886-7-611-0594 DRAGON STEEL Address: No.100, Longchang Rd., Longjing Village,
Taichung County, 43401, Taiwan, R.O.C. Tel: +886-4-2630-6088 Fax: +886-4-2630-6066 CSGT (SHANGHAI) CO., LTD. ADD: 21/F., Zhongxin Mansion, No. 1468, Nanjing
West Road, Shanghai, China Fax: +86-21-6289-6678 CSGT HONG KONG LIMITED Address : #1407-19 Des Voeux Road Central, Central,
Hong Kong Tel: +852-25231488 Fax: +852-25234748 CSGT (SINGAPORE) PTE, LTD. #14-01,MAS Building ,10 Shenton Way Singapore
079117 Tel: +65-62238777~8 Fax: +65-62256054 Email: wesley@csgtsg.com.sg
CSGT METALS VIETNAM JOINT STOCK COMPANY Add: Lot VI – 1A, The 6th Road, Ho Nai
Industrial Zone, Trang Bom District, Dong Nai Province, Vietnam CSGT(SINGAPORE) PTE., LTD. BANGKOK REPRESENTATIVE
OFFICE Add: 1 MD Tower, 7th Floor, Room B, Soi
Bangna-Trat 25, Khwang Bangna, Khet angna, Bangkok 10260, Thailand Tel: +66-2-1864906 Fax: +66-2-1864905 C. S. ALUMINUM CORPORATION Address: No.17 Tung Lin Road, Hsiao Kang,
Kaohsiung, 81260 Taiwan, Republic of China Tel: +886-7-871-8666 CHINA STEEL STRUCTURE CO., LTD. Address: Headquarters: No.1, Chung-Kang Rd.,
Hsiao-Kang, Kaohsiung 81207, Taiwan (China Steel Structure Co., Ltd.) Tel: +886-7-802-3433 Fax: +886-7-801-9150 CHINA STEEL EXPRESS CORPORATION Address: 32F, No.8 Ming0Chuan 2nd Road,
Kaohsiung, 806, Taiwan, R.O.C. Tel: +886-7-337-8888 Fax: +886-7-338-1310 CHINA STEEL MACHINERY CORPORATION Address: 3 Tai-Chi Road, Siaogang District,
Kaohsiung, Taiwan Tel: +886-7-802-0111 Fax: +886-7-806-3833 CHINA ECOTEK CORPORATION Address：8th F, No.8 Ming0Chuan 2nd Road, Kaohsiung, 806, Taiwan, R.O.C. Tel：+886-7-330-6138 Fax：+886-7-339-4016 CHC RESOURCES CORPORATION Address：10F, No.243, I-Hsin 1st Rd., Chien Chen, Kaohsiung, 806, Taiwan,
R.O.C. Tel：886-7-336-8377 Fax：886-7-336-8433 |
Major Shareholder
|
Subscription Shares |
|
|
China Steel Corporation |
|
|
178,824,232 |
Shareholder
Information:
|
Registered Name: |
China Steel Corporation |
|
Registered Address: |
No.1, Chung Kang Road, Lin Hai Ind. Dist.,
Hsiao Kang, Kaohsiung 81233, Taiwan, R.O.C. |
Core Management
|
1 |
||
|
Name |
Jigang Liu |
|
|
Position |
Chairman of the Board |
|
|
2 |
||
|
Name |
Zhiyu Song |
|
|
Position |
Director |
|
|
3 |
||
|
Name |
Hongnan Lin |
|
|
Position |
Director |
|
|
4 |
||
|
Name |
Xinmin Li |
|
|
Position |
Director & Manager |
|
|
Date of Appointment for Manager |
2014-3-1 |
|
|
5 |
||
|
Name |
Mingduan Gao |
|
|
Position |
Supervisor |
|
Offices &
Factories
|
|
Headquarters |
|
Add |
10F., No. 88, Cheng Gong 2nd Rd., Qian Zhen District, Kaohsiung City
80661, Taiwan (R.O.C.) |
Production
Information
l
Subject is a trader of steel products without any
production activities.
l
It is introduced that subject’s group has factories
for production.
Purchase
Information
l
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Import, export and sales business of steel |
|
-- |
Import, export and sales business of industrial
materials (Scrap metal and electronic materials) |
|
-- |
Introducing and trading business of iron and
steel industry manufacturing equipment, instruments and materials |
|
-- |
Agent of steel and aluminum products |
|
-- |
Import and export of stainless steel,
aluminum sheet and secondary processed products, etc. |
|
-- |
Import and export business of mineral
products, chemicals and textiles, etc. |
|
-- |
Storage business |
|
-- |
Offering the counseling advisory business
services of introducing domestic and foreign investment. ( Besides counseling
in portfolio investment) |
|
-- |
The technological cooperation and
counseling advisory of above investment. |
|
-- |
Import, export and sales business of food,
miscellaneous goods, (drinks). |
|
-- |
Import, export and sales business of agricultural
products, animal products, aquatic product (fresh fishes). |
|
-- |
International Trading Business |
|
ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted. |
l
The products of the subject are mainly purchased
from its group companies of home and abroad.
l Subject is engaged
in sale of steel products
l
The major products sold by the subject include
stainless steel products, aluminum products, work roll & fire-retardant
materials
l
Subject’s sales regions include domestic market,
Japan, Korea, Other Asian Countries, America, Europe
l
Subject’s major customers are manufacturers of
steel products and other metal products, etc.
The major products
of the subject are as follows:
|
Category |
Details |
|
Carbon Steel |
Hot rolled steel Cold rolled steel Hot Dipped Galvanized Steel Hot Rolled Plate Galvanized Steel Sheet Electrical Steel Automobile and Home Applications Material Wire Rod/Rebar |
|
Aluminum |
Aluminum Plates Aluminum Sheets and Coils Aluminum
Foil |
|
Stainless Steel |
Hot Rolled Stainless Steel Coil Cold Rolled Stainless Steel
Coil Hot Rolled Stainless Steel
Plate Cold Rolled Stainless Steel
Plate Stainless Steel Wire Rod Stainless Steel Pipe Stainless Steel
Processed Products. |
|
Others |
Steel Slabs Pig
Iron |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
1.
Domestic Purchase
|
Products |
Steel products, etc. |
|
Payment Terms |
Interior Settlement, T/T, Cash, etc. |
2.
Import
|
Products |
Steel products, etc. |
|
Payment Terms |
Interior Settlement, L/C, T/T, etc. |
Sales
1.
Domestic Markets
|
Product |
Steel products, etc. |
|
Selling Terms |
T/T, Cash, etc. |
2.
Export
|
Product |
Steel products, etc. |
|
Selling Terms |
L/C, T/T, etc. |
Subject has no obligations to disclose its financial statements to the third party according to the relevant policy in Taiwan and the only source from which we can obtain the information is the subject itself.
Subject’s relevant staff declined to disclose its financials citing the grounds of company’s confidentiality; from other sources we could not obtain such information, either.
From other source, we found the consolidated financial information of subject’s parent company as follows for your reference.
Unit: NTD/000
|
Consolidated |
2014-9-30 |
2013-9-30 |
|
Assets |
|
|
|
Current
assets |
|
|
|
Cash and
cash equivalents |
|
|
|
Total cash
and cash equivalents |
16,946,040 |
16,391,213 |
|
Current financial
assets at fair value through profit or loss |
|
|
|
Total
current financial assets at fair value through profit or loss |
5,440,566 |
3,970,263 |
|
Current
available-for-sale financial assets |
|
|
|
Current available-for-sale
financial assets, net |
6,400,164 |
4,951,922 |
|
Current
derivative financial assets for hedging |
25,977 |
19,390 |
|
Current
bond investment without active market |
|
|
|
Current
bond investment without active market, net |
0 |
9,186 |
|
Notes
receivable, net |
|
|
|
Notes
receivable, net |
1,202,810 |
859,922 |
|
Notes
receivable due from related parties, net |
|
|
|
Notes
receivable due from related parties, net |
371,765 |
522,646 |
|
Accounts
receivable, net |
|
|
|
Accounts receivable,
net |
10,972,405 |
9,982,906 |
|
Accounts
receivable due from related parties, net |
|
|
|
Accounts
receivable due from related parties, net |
1,155,331 |
232,232 |
|
Construction
contracts receivable |
7,029,746 |
7,628,009 |
|
Other
receivables |
|
|
|
Other
receivables, net |
1,424,360 |
1,971,143 |
|
Current tax
assets |
|
|
|
Total
current tax assets |
205,235 |
166,596 |
|
Inventories |
|
|
|
Inventories,
manufacturing business |
|
|
|
Inventories,
manufacturing business, net |
76,672,934 |
82,347,234 |
|
Total
inventories |
76,672,934 |
82,347,234 |
|
Other
current assets |
|
|
|
Other
current financial assets |
13,479,366 |
14,814,843 |
|
Other
current assets, others |
6,276,265 |
4,461,480 |
|
Total other
current assets |
19,755,631 |
19,276,323 |
|
Total
current assets |
147,602,964 |
148,328,985 |
|
Non-current
assets |
|
|
|
Non-current
available-for-sale financial assets |
|
|
|
Non-current
available-for-sale financial assets, net |
31,917,891 |
22,895,699 |
|
Held-to-maturity
non-current financial assets |
|
|
|
Non-current
held-to-maturity financial assets, net |
214,324 |
208,551 |
|
Derivative
non-current financial assets for hedging |
52,903 |
53,493 |
|
Non-current
bond investment without active market |
|
|
|
Non-current
bond investment without active market, net |
2,935,038 |
3,184,031 |
|
Investments
accounted for using equity method |
|
|
|
Investments
accounted for using equity method, net |
11,361,682 |
12,798,334 |
|
Property,
plant and equipment |
|
|
|
Total property,
plant and equipment |
460,903,831 |
459,771,061 |
|
Investment
property, net |
|
|
|
Investment
property, net |
8,351,672 |
8,610,922 |
|
Intangible
assets |
|
|
|
Total
intangible assets |
2,539,444 |
1,435,262 |
|
Deferred
tax assets |
6,156,791 |
6,519,267 |
|
Other
non-current assets |
|
|
|
Guarantee
deposits paid |
479,104 |
479,455 |
|
Other
non-current financial assets |
|
|
|
Total other
non-current financial assets |
2,382,491 |
405,188 |
|
Other
non-current assets, others |
|
|
|
Other non-current
assets, others |
9,462,407 |
7,618,661 |
|
Total other
non-current assets, others |
9,462,407 |
7,618,661 |
|
Total other
non-current assets |
12,324,002 |
8,503,304 |
|
Total
non-current assets |
536,757,578 |
523,979,924 |
|
Total
assets |
684,360,542 |
672,308,909 |
|
Liabilities |
|
|
|
Current
liabilities |
|
|
|
Short-term
borrowings |
|
|
|
Total
short-term borrowings |
33,204,386 |
34,400,896 |
|
Short-term
notes and bills payable |
|
|
|
Total
short-term notes and bills payable |
36,744,015 |
42,772,167 |
|
Current
financial liabilities at fair value through profit or loss |
|
|
|
Total
current financial liabilities at fair value through profit or loss |
6,893 |
6,697 |
|
Current
derivative financial liabilities for hedging |
45,337 |
39,270 |
|
Notes
payable |
|
|
|
Total notes
payable |
1,121,334 |
758,767 |
|
Notes
payable to related parties |
|
|
|
Total notes
payable to related parties |
0 |
0 |
|
Accounts
payable |
|
|
|
Total
accounts payable |
10,277,590 |
11,697,846 |
|
Accounts
payable to related parties |
|
|
|
Total
accounts payable to related parties |
835,269 |
135,355 |
|
Construction
contracts payable |
5,543,453 |
4,817,794 |
|
Other
payables |
|
|
|
Total other
payables |
23,102,425 |
25,017,446 |
|
Current tax
liabilities |
3,920,375 |
2,876,245 |
|
Current
provisions |
|
|
|
Total
current provisions |
4,477,965 |
3,966,787 |
|
Other
current liabilities |
|
|
|
Long-term
liabilities, current portion |
|
|
|
Bonds
payable, current portion |
3,499,830 |
11,274,386 |
|
Long-term
borrowings, current portion |
18,895,194 |
19,734,292 |
|
Total
long-term liabilities, current portion |
22,395,024 |
31,008,678 |
|
Other
current liabilities, others |
3,139,946 |
3,052,873 |
|
Total other
current liabilities |
25,534,970 |
34,061,551 |
|
Total
current liabilities |
144,814,012 |
160,550,821 |
|
Non-current
liabilities |
|
|
|
Non-current
financial liabilities at fair value through profit or loss |
|
|
|
Total non-current
financial liabilities at fair value through profit or loss |
0 |
2,165 |
|
Non-current
derivative financial liabilities for hedging |
1,211 |
13,213 |
|
Bonds
payable |
|
|
|
Total bonds
payable |
97,838,651 |
66,518,950 |
|
Long-term
borrowings |
|
|
|
Long-term
bank loans |
78,951,696 |
86,538,213 |
|
Others
long-term borrowings |
17,021,530 |
26,265,602 |
|
Total
long-term borrowings |
95,973,226 |
112,803,815 |
|
Non-current
provisions |
|
|
|
Total
non-current provisions |
1,024,737 |
41,683 |
|
Deferred
tax liabilities |
|
|
|
Total
deferred tax liabilities |
12,774,147 |
12,978,438 |
|
Other
non-current liabilities |
|
|
|
Accrued
pension liabilities |
7,064,924 |
7,387,558 |
|
Other
non-current liabilities, others |
708,343 |
491,194 |
|
Total other
non-current liabilities |
7,773,267 |
7,878,752 |
|
Total
non-current liabilities |
215,385,239 |
200,237,016 |
|
Total
liabilities |
360,199,251 |
360,787,837 |
|
Equity |
|
|
|
Equity
attributable to owners of parent |
|
|
|
Share
capital |
|
|
|
Ordinary
share |
157,348,610 |
154,255,840 |
|
Preference
share |
382,680 |
382,680 |
|
Total
capital stock |
157,731,290 |
154,638,520 |
|
Capital
surplus |
|
|
|
Total
capital surplus |
37,203,600 |
36,925,968 |
|
Retained
earnings |
|
|
|
Legal reserve |
56,957,880 |
55,359,726 |
|
Special
reserve |
27,086,440 |
26,920,871 |
|
Unappropriated
retained earnings (accumulated deficit) |
|
|
|
Total
unappropriated retained earnings (accumulated deficit) |
16,048,221 |
12,658,014 |
|
Total retained
earnings |
100,092,541 |
94,938,611 |
|
Other
equity interest |
|
|
|
Total other
equity interest |
8,391,652 |
6,522,123 |
|
Treasury
shares |
8,587,461 |
8,581,501 |
|
Total
equity attributable to owners of parent |
294,831,622 |
284,443,721 |
|
Non-controlling
interests |
29,329,669 |
27,077,351 |
|
Total
equity |
324,161,291 |
311,521,072 |
|
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 |
318,369,000 |
312,858,000 |
Unit: NTD/000
|
Consolidated |
2014-1-1~ 2014-9-30 |
2013-1-1~ 2013-9-30 |
|
Operating
revenue |
|
|
|
Total
operating revenue |
276,845,574 |
260,415,842 |
|
Operating
costs |
|
|
|
Total
operating costs |
246,282,357 |
232,468,026 |
|
Gross
profit (loss) from operations |
30,563,217 |
27,947,816 |
|
Realized
profit (loss) on from sales |
0 |
403,930 |
|
Gross
profit (loss) from operations |
30,563,217 |
28,351,746 |
|
Operating
expenses |
|
|
|
Selling
expenses |
|
|
|
Total
selling expenses |
3,612,208 |
3,841,541 |
|
Administrative
expenses |
|
|
|
Total
administrative expenses |
5,203,665 |
4,554,061 |
|
Research
and development expenses |
|
|
|
Total
research and development expenses |
1,487,257 |
1,404,276 |
|
Total
operating expenses |
10,303,130 |
9,799,878 |
|
Net
operating income (loss) |
20,260,087 |
18,551,868 |
|
Non-operating
income and expenses |
|
|
|
Other
income |
|
|
|
Total other
income |
2,058,272 |
1,325,548 |
|
Other gains
and losses |
|
|
|
Other gains
and losses, net |
176,719 |
-2,879 |
|
Finance
costs |
|
|
|
Finance
costs, net |
2,851,980 |
2,100,388 |
|
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 |
622,289 |
264,480 |
|
Total
non-operating income and expenses |
5,300 |
-513,239 |
|
Profit
(loss) from continuing operations before tax |
20,265,387 |
18,038,629 |
|
Tax expense
(income) |
|
|
|
Total tax
expense (income) |
3,171,880 |
3,519,115 |
|
Profit
(loss) from continuing operations |
17,093,507 |
14,519,514 |
|
Profit (loss) |
17,093,507 |
14,519,514 |
|
Other
comprehensive income |
|
|
|
Exchange
differences on translation |
494,627 |
-132,980 |
|
Unrealized
gains (losses) on valuation of available-for-sale financial assets |
391,974 |
1,954,965 |
|
Cash flow
hedges |
57,152 |
299,029 |
|
Actuarial
gains (losses) on defined benefit plans |
0 |
-1,130 |
|
Share of
other comprehensive income of associates and joint ventures accounted for
using equity method |
|
|
|
Total share
of other comprehensive income of associates and joint ventures accounted for
using equity method |
-150,656 |
8,745 |
|
Income tax
related to components of other comprehensive income |
22,783 |
60,503 |
|
Other
comprehensive income, net |
770,314 |
2,068,126 |
|
Total
comprehensive income |
17,863,821 |
16,587,640 |
|
Profit
(loss), attributable to: |
|
|
|
Profit
(loss), attributable to owners of parent |
15,401,923 |
12,457,116 |
|
Profit
(loss), attributable to non-controlling interests |
1,691,584 |
2,062,398 |
|
Comprehensive
income attributable to: |
|
|
|
Comprehensive
income, attributable to owners of parent |
15,837,722 |
14,382,173 |
|
Comprehensive
income, attributable to non-controlling interests |
2,026,099 |
2,205,467 |
|
Basic
earnings per share |
|
|
|
Basic
earnings (loss) per share from continuing operations |
1.00 |
0.81 |
|
Total basic
earnings per share |
1.00 |
0.81 |
|
Diluted
earnings per share |
|
|
|
Diluted
earnings (loss) per share from continuing operations |
0.99 |
0.80 |
|
Total diluted
earnings per share |
0.99 |
0.80 |
Unit: NTD/000
|
Consolidated |
2014-1-1~ 2014-9-30 |
2013-1-1~ 2013-9-30 |
|
Cash flows
from (used in) operating activities, indirect method |
|
|
|
Profit
(loss) from continuing operations before tax |
20,265,387 |
18,038,629 |
|
Profit
(loss) before tax |
20,265,387 |
18,038,629 |
|
Adjustments |
|
|
|
Adjustments
to reconcile profit (loss) |
|
|
|
Depreciation
expense |
26,345,375 |
22,558,842 |
|
Amortization
expense |
301,002 |
212,947 |
|
Net loss (gain)
on financial assets or liabilities at fair value through profit or loss |
-74,501 |
-108,779 |
|
Interest
expense |
2,851,980 |
2,100,388 |
|
Interest
income |
-397,737 |
-333,098 |
|
Dividend
income |
-338,260 |
-336,325 |
|
Share of loss
(profit) of associates and joint ventures accounted for using equity method |
-622,293 |
-265,106 |
|
Loss (gain)
on disposal of property, plan and equipment |
137,673 |
69,813 |
|
Loss (gain)
on disposal of intangible assets |
-72,934 |
0 |
|
Loss (gain)
on disposal of investments |
-640,881 |
-482,934 |
|
Impairment
loss on non-financial assets |
562,819 |
-261,037 |
|
Realized
loss (profit) on from sales |
0 |
-403,930 |
|
Other
adjustments to reconcile profit (loss) |
3,890,589 |
3,820,499 |
|
Total
adjustments to reconcile profit (loss) |
31,942,832 |
26,571,280 |
|
Changes in
operating assets and liabilities |
|
|
|
Changes in
operating assets |
|
|
|
Decrease
(increase) in financial assets held for trading |
-30,936 |
-72,407 |
|
Decrease (increase)
in notes receivable |
-4,589 |
114,789 |
|
Decrease
(increase) in notes receivable due from related parties |
235,297 |
-3,193 |
|
Decrease
(increase) in accounts receivable |
-731,984 |
503,333 |
|
Decrease (increase)
in accounts receivable due from related parties |
-634,599 |
373,045 |
|
Decrease
(increase) in construction contracts receivable |
279,724 |
-195,343 |
|
Decrease
(increase) in other receivable |
1,003,941 |
-1,102,270 |
|
Decrease (increase)
in inventories |
5,799,621 |
-5,201,286 |
|
Decrease
(increase) in other current assets |
-602,548 |
316,210 |
|
Total
changes in operating assets |
5,313,927 |
-5,267,122 |
|
Changes in
operating liabilities |
|
|
|
Increase (decrease)
in notes payable |
105,917 |
463,802 |
|
Increase
(decrease) in notes payable to related parties |
-756 |
0 |
|
Increase
(decrease) in accounts payable |
-1,265,789 |
1,596,744 |
|
Increase
(decrease) in accounts payable to related parties |
677,897 |
-95,952 |
|
Increase
(decrease) in construction contracts receivable |
-274,996 |
1,170,438 |
|
Increase
(decrease) in other payable |
-150,683 |
-23,735 |
|
Increase
(decrease) in provisions |
-2,228,679 |
-1,972,125 |
|
Increase (decrease)
in other current liabilities |
-166,721 |
693,820 |
|
Increase
(decrease) in accrued pension liabilities |
-172,244 |
-51,724 |
|
Total
changes in operating liabilities |
-3,476,054 |
1,781,268 |
|
Total
changes in operating assets and liabilities |
1,837,873 |
-3,485,854 |
|
Total
adjustments |
33,780,705 |
23,085,426 |
|
Cash inflow
(outflow) generated from operations |
54,046,092 |
41,124,055 |
|
Income
taxes refund (paid) |
-3,434,332 |
-1,140,004 |
|
Net cash flows
from (used in) operating activities |
50,611,760 |
39,984,051 |
|
Cash flows
from (used in) investing activities |
|
|
|
Acquisition
of financial assets at fair value through profit or loss, designated as upon
initial recognition |
-5,657,989 |
-3,787,311 |
|
Proceeds
from disposal of financial assets at fair value through profit or loss,
designated as upon initial recognition |
5,191,197 |
3,913,157 |
|
Acquisition
of available-for-sale financial assets |
-6,373,547 |
-5,570,070 |
|
Proceeds from
disposal of available-for-sale financial assets |
2,158,202 |
2,675,004 |
|
Proceeds
from capital reduction of available-for-sale financial assets |
44,163 |
58,127 |
|
Acquisition
of bond investments without active market |
-19,853 |
-14,616 |
|
Proceeds
from disposal of bond investments without active market |
9,758 |
0 |
|
Acquisition
of held-to-maturity financial assets |
0 |
-102,271 |
|
Proceeds
from disposal of held-to-maturity financial assets |
0 |
82,364 |
|
Disposal of
derivative financial assets for hedging |
-853,388 |
32,973 |
|
Acquisition
of investments accounted for using equity method |
-282,859 |
-9,317,350 |
|
Proceeds
from capital reduction of investments accounted for using equity method |
11,550 |
0 |
|
Acquisition
of property, plant and equipment |
-25,462,566 |
-48,189,474 |
|
Proceeds
from disposal of property, plant and equipment |
16,058 |
111,586 |
|
Increase in
refundable deposits |
34,111 |
-37,751 |
|
Acquisition
of intangible assets |
-62,643 |
-16,432 |
|
Acquisition
of investment properties |
0 |
-6,560 |
|
Proceeds
from disposal of investment properties |
89 |
0 |
|
Increase in
other financial assets |
-4,667 |
-1,238,769 |
|
Decrease in
other non-current assets |
41,816 |
-507,283 |
|
Interest received |
404,819 |
310,654 |
|
Dividends
received |
904,006 |
395,379 |
|
Net cash
flows from (used in) investing activities |
-29,901,743 |
-61,208,643 |
|
Cash flows
from (used in) financing activities |
|
|
|
Increase in
short-term loans |
150,840,516 |
217,051,970 |
|
Decrease in
short-term loans |
-144,979,710 |
-208,369,909 |
|
Increase in
short-term notes and bills payable |
5,957,715 |
14,092,737 |
|
Proceeds
from issuing bonds |
34,900,000 |
19,900,000 |
|
Proceeds
from long-term debt |
18,497,636 |
33,674,554 |
|
Repayments
of long-term debt |
-48,095,861 |
-39,915,439 |
|
Increase in
other borrowings |
-17,860,503 |
-5,518,129 |
|
Increase in
other non-current liabilities |
171,548 |
-50,206 |
|
Cash
dividends paid |
-10,572,788 |
-6,164,936 |
|
Payments to
acquire treasury shares |
-198,602 |
0 |
|
Interest
paid |
-2,699,202 |
-2,252,616 |
|
Change in
non-controlling interests |
-2,403,450 |
-2,017,963 |
|
Net cash
flows from (used in) financing activities |
-16,442,701 |
20,430,063 |
|
Effect of exchange
rate changes on cash and cash equivalents |
240,284 |
-843,849 |
|
Net
increase (decrease) in cash and cash equivalents |
4,507,600 |
-1,638,378 |
|
Cash and
cash equivalents at beginning of period |
10,541,442 |
16,959,256 |
|
Cash and cash
equivalents at end of period |
15,049,042 |
15,320,878 |
|
Cash and
cash equivalents reported in the statement of financial position |
16,946,040 |
16,391,213 |
|
Other items
qualifying for cash and cash equivalents under the definition of IAS 7 |
-1,896,998 |
-1,070,335 |
Note: The above financial figures are based on the IFRSs
Accounting System.
Subject declined to disclose its bank details; from other source we could not obtain the relevant information, either.
Mortgage
No chattel mortgage record of subject has been found within the recent 3 months.
Lawsuit
Up to date of reporting, no existing or latent litigation of the subject has been found.
Interview Details
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.42 |
|
UK Pound |
1 |
Rs.92.99 |
|
Euro |
1 |
Rs.67.29 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.