|
Report No. : |
349355 |
|
Report Date : |
16.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
FORMOSA TAFFETA CO., LTD. |
|
|
|
|
Registered Office : |
No.317, Shu Liou Rd., Tou Liou, Yunlin
County |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2014 (Consolidated) |
|
|
|
|
Date of Incorporation : |
19.04.1973 |
|
|
|
|
Com. Reg. No.: |
14001199 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and sales of textiles. |
|
|
|
|
No. of Employee : |
About 5,000 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 – 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 |
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.
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 the ECFA, including a signed agreement on
trade in services and negotiations on trade in goods and dispute resolution,
have stalled. In early 2014, the government bowed to public demand and proposed
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 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 expected to account for nearly 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 (MOU) 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 Taiwan’s
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: |
+886-5-557-3966/557-3884-7 |
|
Fax Number: |
+886-5-557-3969 |
|
E-mail: |
Notes: The supplied address and telephone number
+886-2-8770-1688 belongs to subject’s Taipei office.
Subject was incorporated on
1973-4-19 with registered number 14001199 as Joint Stock Company in Taiwan.
Subject listed on Taiwan stock exchange on
1985-12-24.
Office
|
Name |
Formosa Taffeta Co., Ltd. Taipei Office |
|
Address |
11th Fl, 201 Tun-Hwa N.RD, Taipei 105,
Taiwan, R.O.C |
|
Telephone Number |
+886-2-8770-1688 |
|
Fax Number |
+886-2-2717-4316 |
Factories
|
1 |
|
|
Address: |
No.317, Shiliu Rd., Douliu City, Yunlin
County, Taiwan (R.O.C.) |
|
Date of Registration: |
1974-12-7 |
|
Factory Registration Number: |
99653024 |
|
Factory Manager: |
Shiming Xie |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2014-11-10 |
|
Major Products: |
111 Spinning 112 Weaving 114 Printing and dyeing finishing 115 Textiles 220 Plastic products 259 Other metal products |
|
2 |
|
|
Name: |
The 2nd Factory |
|
Address: |
No.319, Henan St., Douliu City, Yunlin
County, Taiwan (R.O.C.) |
|
Date of Foundation: |
1992-6-23 |
|
Date of Registration: |
1995-10-19 |
|
Factory Registration Number: |
99653052 |
|
Factory Manager: |
Shiming Xie |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2001-7-9 |
|
Major Products: |
112 Weaving |
Related Companies
and Branches
|
1 |
|
|
Name |
Formosa Taffeta (Zhong Shan) Co., Ltd. |
|
Address |
Shen Xi Village, Shen Wan Town, Zhong Shan
City, Guangdong Province 528462, China |
|
Telephone Number |
+86-760-8660-8061 |
|
Fax Number |
+86-760-8660-9682 |
|
2 |
|
|
Name |
Formosa Taffeta (Changshu) Co., Ltd. |
|
Address |
1, Peng-Hu RD., Changshu DongNan Ecnomic
Development Zone, Jiangsu Province 21550, China |
|
Telephone Number |
+86-512-5283-5191 |
|
Fax Number |
+86-512-5283-5195 |
|
3 |
|
|
Name |
Formosa Taffeta Vietnam Co., Ltd. |
|
Address |
Section 1, Nhut Chanh Com., Ben Luc Dist.,
Long An Prov., Vietnam |
|
Telephone Number |
+84-72-871039 |
|
Fax Number |
+84-72-871037 |
|
4 |
|
|
Name |
HCM City Office of Formosa Taffeta Vietnam
Co., Ltd. |
|
Address |
5th Fl., 45 Dinh Tien Hoang St., Ben NGHE
Ward, District 1, Ho Chi Minh City, Vietnam |
|
Telephone Number |
+84-8-8239661 |
|
Fax Number |
+84-8-8239660 |
|
5 |
|
|
Name |
Formosa Taffeta (Dong Nai) CO., LTD. |
|
Address |
Nhon Trach 3 I.Z., Hiep Phuoc Com., Nhon
Trach Dist. Dong Nai Prov., Vietnam |
|
Telephone Number |
+84-61-560255 |
|
Fax Number |
+84-61-560257 |
|
6 |
|
|
Name |
Xiamen Xiangyu Formosa Import & Export
Trading Co., Ltd. |
|
Address |
RM. B5, 7th Fl., Xiangyu Building, Xiangyu
Free Trade Zone, Xiamen 361006, China |
|
Telephone Number |
+86-592-5627502 |
|
Fax Number |
+86-592-5627055 |
|
7 |
|
|
Name |
Schoeller FTC (H.K.) Co., Ltd. |
|
Address |
Room 1104, Tower 6, China H.K. City, 33 Canton
RD., Kowloon, Hong Kong |
|
Telephone Number |
+852-2735-3558 |
|
Fax Number |
+852-2735-3327 |
|
8 |
|
|
Name |
F.T.C. America Corp (USA office) |
|
Address |
788 Bloomfield Ave, Verona N.J. 07044,
U.S.A. |
|
Telephone Number |
+973-857-0880 |
|
Fax Number |
+973-857-8688 |
|
9 |
|
|
Name |
Formosa Technology |
|
Address |
329,Honan St., Touliu 640, Taiwan, R.O.C. |
|
Telephone Number |
+886-5-557-4888 |
|
Fax Number |
+886-5-557-4638 |
Major Shareholders
|
Name |
Subscription Shares |
|
Formosa Chemicals & Fibre Corporation |
630,022,431 |
|
Keyford Development Co., Ltd. |
113,000 |
|
Jiaqi Guo |
3,000 |
|
Mingtang Huang |
145,747 |
|
Mingde Xie |
15,548,068 |
|
Fengxing Investment Co., Ltd (Liberal
translation) |
916,880 |
|
Changhua County Private Lai Shuwang Social
Welfare Charity Foundation (Literal Translation) |
4,151,942 |
|
Haojian Huang |
138,365 |
|
1 |
|
|
Registered Name: |
Formosa Chemicals & Fibre Corporation |
|
Registered Address: |
No.359, Sec. 3, Zhongshan Rd., Changhua
City, Changhua County, Taiwan (R.O.C.) |
|
Date of Foundation: |
1965-3-5 |
|
Registration Number: |
58650902 |
|
Registry: |
Department of Commerce, Ministry of Economic
Affairs, R.O.C |
|
Legal Representatives: |
Wenyuan Wang |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2015-7-14 |
|
2 |
|
|
Registered Name: |
Keyford Development Co., Ltd. |
|
Registered Address: |
2F., No.101, Sec. 3, Zhanghe Rd., Hemei
Township, Changhua County, Taiwan (R.O.C.) |
|
Date of Foundation: |
2004-11-18 |
|
Registration Number: |
27493528 |
|
Registry: |
|
|
Legal Representatives: |
Shiming Xie |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-7-15 |
|
Tel |
+886-4-757-8755 |
|
Fax |
+886-4-757-8760 |
|
3 |
|
|
Registered Name: |
Fengxing Investment Co., Ltd (Liberal translation) |
|
Registered Address: |
2F., No.341, South Dist., Taichung City, Taiwan (R.O.C.) |
|
Date of Foundation: |
1982-6-7 |
|
Registration Number: |
52758764 |
|
Registry: |
Taichung City Government |
|
Legal Representatives: |
Zhengfang He |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2015-9-1 |
Core Management
Directors
|
1 |
|
|
Name |
Wenyuan Wang |
|
Position |
Board Director |
|
2 |
|
|
Name |
Shiming Xie |
|
Position |
Executive Director & Manager |
|
Date of Appointment for Manager |
1981-3-25 |
|
3 |
|
|
Name |
You Zheng |
|
Position |
Executive Director |
|
4 |
|
|
Name |
Gong Wang |
|
Position |
Independent Director |
|
5 |
|
|
Name |
Jiaqi Guo |
|
Position |
Independent Director |
|
6 |
|
|
Name |
Fuyuan Hong |
|
Position |
Director |
|
7 |
|
|
Name |
Dongteng Huang |
|
Position |
Director |
|
8 |
|
|
Name |
Tianxuan Cai |
|
Position |
Director |
|
9 |
|
|
Name |
Minzhang Li |
|
Position |
Director |
|
10 |
|
|
Name |
Mingtang Huang |
|
Position |
Director |
|
11 |
|
|
Name |
Mingde Xie |
|
Position |
Director |
|
12 |
|
|
Name |
Shengfu Lv |
|
Position |
Supervisor |
|
13 |
|
|
Name |
Manchun Li |
|
Position |
Supervisor |
|
14 |
|
|
Name |
Haojian Huang |
|
Position |
Supervisor |
Personnel
Structure
|
Total Employees |
About 5,000 Employees |
Offices &
Factories
|
|
Headquarters |
|
No.317, Shu Liou Rd., Tou Liou, Yunlin County, Taiwan |
Production
Information
Subject is engaged in manufacturing of textiles
Subject has factories in Taiwan, Mainland China, and Vietnam for
production.
It is introduced that the production capacity of industrial cloth is about 2,200 tons per month.
Subject obtained the certifications of ISO 9002, ISO 14001, ISO 14064,
and OHSAS 18001
Purchase
Information
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Manufacturing and sales of nylon and polyester cloth |
|
-- |
Manufacturing and sales of fluted ribs and cotton tyre cord |
|
-- |
Manufacturing, processing and sales of polymer products and its
related products |
|
-- |
Manufacturing, processing and sales of cotton yarn, spun rayon,
synthetic fiber yarn, blended yarn, garment, coverlet, sheet, and its related
products |
|
-- |
Manufacturing and sales of protective fabrics include 1. Bulletproof
vest, bulletproof helmets, bulletproof shield, bulletproof mask, wearable
cloth, composite products (sports equipment, fishing tackle) 2. Industrial
work clothes such as acid proof, alkali proof, fire-proof, thermos stability,
and using reprocessing fabric such as fire suit, boiler protective clothing,
and chemical industrial work clothes 3. clean room supplies (sterile gown,
surgical gown, medical fabric, antistatic clothing), clean clothes |
|
-- |
Design, manufacturing and sales of computer software |
|
-- |
Sales of native products, artifacts, groceries, and garments |
|
-- |
Operation, Aquatic recreational sports equipment, renting yacht of sightseeing
recreation areas, amusement park, park, camp site, swimming pool, skating
rink, zoo and sports complex. |
|
-- |
Trading of native products, handicraft works, general cargo, sears and
garments. |
|
-- |
Lubricating grease, simple maintenance, washing cars, vehicle
supplies, convenience store, parking lot, setting up automatic vending
machines, agent of handling with the files of cars and trading of petrol,
diesel oil, coal oil and small package petroleum products. |
|
ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted |
The raw materials for production are purchased both home and abroad.
It is introduced that subject purchases machines from Germany, France,
Switzerland and Japan, etc.
Subject is engaged in sales of all kinds of
textile
The major products of the subject are home & comfort fabric, special
finishes fabric, safety & life fabric, rainy & sunshine fabric, sports
& casual fabric, lady's & gentleman's fashion fabric, tire cord fabric,
PE bags
Subject’s sales regions include domestic market, Japan, Korea, India,
Southeast Asia, North America, and Europe
Subject’s major customers include clothing manufacturer, packaging manufacturer and trader
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Raw materials |
|
Payment Terms |
T/T, Cash |
Import
|
Products |
Raw materials |
|
Payment Terms |
L/C, T/T |
Domestic Markets
|
Product |
Textile |
|
Selling Terms |
T/T, Cash |
Export
|
Product |
Textile |
|
Selling Terms |
L/C, T/T |
Unit: NTD/000
|
Consolidated |
2014-12-31 |
2013-12-31 |
|
Assets |
|
|
|
Current assets |
|
|
|
Cash and cash equivalents |
|
|
|
Total cash and cash equivalents |
3,796,868 |
3,064,945 |
|
Current financial assets at fair value through profit or loss |
|
|
|
Total current financial assets at fair value through profit or loss |
654,499 |
1,352 |
|
Current available-for-sale financial assets |
|
|
|
Current available-for-sale financial assets, net |
1,709,615 |
1,422,657 |
|
Notes receivable, net |
|
|
|
Notes receivable, net |
93,100 |
101,000 |
|
Notes receivable due from related parties, net |
|
|
|
Notes receivable due from related parties, net |
2,743 |
6,963 |
|
Accounts receivable, net |
|
|
|
Accounts receivable, net |
4,154,561 |
3,760,435 |
|
Accounts receivable due from related parties, net |
|
|
|
Accounts receivable due from related parties, net |
1,321,930 |
1,036,415 |
|
Other receivables |
|
|
|
Other receivables, net |
354,982 |
266,519 |
|
Inventories |
|
|
|
Total inventories |
7,950,289 |
7,362,831 |
|
Prepayments |
|
|
|
Total prepayments |
393,671 |
197,527 |
|
Other current assets |
|
|
|
Total other current assets |
384,755 |
660,737 |
|
Total current assets |
20,817,013 |
17,881,381 |
|
Non-current assets |
|
|
|
Non-current available-for-sale financial assets |
|
|
|
Non-current available-for-sale financial assets, net |
26,322,249 |
30,486,495 |
|
Non-current financial assets at cost |
|
|
|
Non-current financial assets at cost, net |
5,442,727 |
353,144 |
|
Investments accounted for using equity method |
|
|
|
Investments accounted for using equity method, net |
2,909,436 |
7,551,755 |
|
Property, plant and equipment |
|
|
|
Total property, plant and equipment |
17,846,148 |
19,014,371 |
|
Deferred tax assets |
500,772 |
639,217 |
|
Other non-current assets |
|
|
|
Total other non-current assets |
1,051,206 |
692,017 |
|
Total non-current assets |
54,072,538 |
58,736,999 |
|
Total assets |
74,889,551 |
76,618,380 |
|
Liabilities |
|
|
|
Current liabilities |
|
|
|
Short-term borrowings |
|
|
|
Total short-term borrowings |
2,761,686 |
3,706,477 |
|
Short-term notes and bills payable |
|
|
|
Total short-term notes and bills payable |
2,349,524 |
1,249,862 |
|
Current financial liabilities at fair value through profit or loss |
|
|
|
Total current financial liabilities at fair value through profit or
loss |
5,843 |
704 |
|
Notes payable |
|
|
|
Total notes payable |
205,567 |
172,069 |
|
Notes payable to related parties |
|
|
|
Total notes payable to related parties |
288,160 |
218,650 |
|
Accounts payable |
|
|
|
Total accounts payable |
1,169,886 |
1,032,409 |
|
Accounts payable to related parties |
|
|
|
Total accounts payable to related parties |
1,186,014 |
1,491,693 |
|
Other payables |
|
|
|
Total other payables |
2,047,240 |
1,309,490 |
|
Current tax liabilities |
154,960 |
307,292 |
|
Other current liabilities |
|
|
|
Total other current liabilities |
354,132 |
240,159 |
|
Total current liabilities |
10,523,012 |
9,728,805 |
|
Non-current liabilities |
|
|
|
Long-term borrowings |
|
|
|
Total long-term borrowings |
9,218,895 |
10,085,653 |
|
Deferred tax liabilities |
|
|
|
Total deferred tax liabilities |
95,730 |
55,383 |
|
Other non-current liabilities |
|
|
|
Total other non-current liabilities |
2,617,670 |
2,538,454 |
|
Total non-current liabilities |
11,932,295 |
12,679,490 |
|
Total liabilities |
22,455,307 |
22,408,295 |
|
Equity |
|
|
|
Equity attributable to owners of parent |
|
|
|
Share capital |
|
|
|
Ordinary share |
16,846,646 |
16,846,646 |
|
Total capital stock |
16,846,646 |
16,846,646 |
|
Capital surplus |
|
|
|
Capital surplus, treasury share transactions |
11,077 |
7,019 |
|
Capital surplus, difference between consideration and carrying amount
of subsidiaries acquired or disposed |
545 |
0 |
|
Capital surplus, donated assets received |
|
|
|
Total capital surplus, donated assets received |
2,032 |
2,032 |
|
Capital surplus, changes in equity of associates and joint ventures
accounted for using equity method |
24,694 |
89,847 |
|
Total capital surplus |
38,348 |
98,898 |
|
Retained earnings |
|
|
|
Legal reserve |
6,156,773 |
5,943,868 |
|
Special reserve |
644,262 |
326,534 |
|
Unappropriated retained earnings (accumulated deficit) |
|
|
|
Total unappropriated retained earnings (accumulated deficit) |
4,838,841 |
3,535,764 |
|
Total retained earnings |
11,639,876 |
9,806,166 |
|
Other equity interest |
|
|
|
Exchange differences on translation of foreign financial statements |
|
|
|
Total exchange differences on translation of foreign financial
statements |
385,721 |
-95,294 |
|
Unrealized gains (losses) on available-for-sale financial assets |
|
|
|
Total unrealized gains (losses) on available-for-sale financial assets |
20,331,798 |
24,614,399 |
|
Total other equity interest |
20,717,519 |
24,519,105 |
|
Treasury shares |
22,723 |
23,423 |
|
Total equity attributable to owners of parent |
49,219,666 |
51,247,392 |
|
Non-controlling interests |
3,214,578 |
2,962,693 |
|
Total equity |
52,434,244 |
54,210,085 |
|
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 |
2,613,228 |
2,693,228 |
Unit: NTD/000
|
Consolidated |
2014 |
2013 |
|
Operating revenue |
|
|
|
Total operating revenue |
48,191,112 |
47,461,892 |
|
Operating costs |
|
|
|
Total operating costs |
42,451,350 |
42,892,654 |
|
Gross profit (loss) from operations |
5,739,762 |
4,569,238 |
|
Gross profit (loss) from operations |
5,739,762 |
4,569,238 |
|
Operating expenses |
|
|
|
Selling expenses |
|
|
|
Total selling expenses |
1,893,970 |
1,735,661 |
|
Administrative expenses |
|
|
|
Total administrative expenses |
898,922 |
766,888 |
|
Research and development expenses |
|
|
|
Total research and development expenses |
50,326 |
48,399 |
|
Total operating expenses |
2,843,218 |
2,550,948 |
|
Net operating income (loss) |
2,896,544 |
2,018,290 |
|
Non-operating income and expenses |
|
|
|
Other income |
|
|
|
Total other income |
1,197,173 |
319,315 |
|
Other gains and losses |
|
|
|
Other gains and losses, net |
59,883 |
259,046 |
|
Finance costs |
|
|
|
Finance costs, net |
211,869 |
215,881 |
|
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 |
230,208 |
279,162 |
|
Total non-operating income and expenses |
1,275,395 |
641,642 |
|
Profit (loss) from continuing operations before tax |
4,171,939 |
2,659,932 |
|
Tax expense (income) |
|
|
|
Total tax expense (income) |
352,290 |
482,956 |
|
Profit (loss) from continuing operations |
3,819,649 |
2,176,976 |
|
Profit (loss) |
3,819,649 |
2,176,976 |
|
Other comprehensive income |
|
|
|
Exchange differences on translation |
464,689 |
164,919 |
|
Unrealized gains (losses) on valuation of available-for-sale financial
assets |
-4,268,475 |
-1,101,495 |
|
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 |
13,513 |
-10,963 |
|
Other comprehensive income, net |
-3,790,273 |
-947,539 |
|
Total comprehensive income |
29,376 |
1,229,437 |
|
Profit (loss), attributable to: |
|
|
|
Profit (loss), attributable to owners of parent |
3,518,374 |
2,129,053 |
|
Profit (loss), attributable to non-controlling interests |
301,275 |
47,923 |
|
Comprehensive income attributable to: |
|
|
|
Comprehensive income, attributable to owners of parent |
-283,212 |
1,181,234 |
|
Comprehensive income, attributable to non-controlling interests |
312,588 |
48,203 |
|
Basic earnings per share |
|
|
|
Basic earnings (loss) per share from continuing operations |
2.27 |
1.29 |
|
Basic earnings (loss) per share from discontinued operations |
-0.18 |
-0.02 |
|
Total basic earnings per share |
2.09 |
1.27 |
Unit: NTD/000
|
Consolidated |
2014 |
2013 |
|
Cash flows from (used in) operating activities, indirect method |
|
|
|
Profit (loss) from continuing operations before tax |
4,171,939 |
2,659,932 |
|
Profit (loss) before tax |
4,171,939 |
2,659,932 |
|
Adjustments |
|
|
|
Adjustments to reconcile profit (loss) |
|
|
|
Depreciation expense |
3,367,232 |
3,981,235 |
|
Provision (reversal of provision) for bad debt expense |
5,724 |
5,020 |
|
Net loss (gain) on financial assets or liabilities at fair value
through profit or loss |
1,769 |
11,763 |
|
Interest expense |
211,869 |
215,881 |
|
Interest income |
-20,777 |
-16,661 |
|
Dividend income |
-967,716 |
-129,404 |
|
Share of loss (profit) of associates and joint ventures accounted for
using equity method |
-184,152 |
-246,263 |
|
Loss (gain) on disposal of property, plan and equipment |
38,231 |
-93,687 |
|
Loss (gain) on disposal of investments |
-36,476 |
-93,104 |
|
Total adjustments to reconcile profit (loss) |
2,415,704 |
3,634,780 |
|
Changes in operating assets and liabilities |
|
|
|
Changes in operating assets |
|
|
|
Decrease (increase) in financial assets held for trading |
-649,537 |
3,675 |
|
Decrease (increase) in notes receivable |
7,900 |
155,547 |
|
Decrease (increase) in notes receivable due from related parties |
4,220 |
7,661 |
|
Decrease (increase) in accounts receivable |
-399,850 |
272,426 |
|
Decrease (increase) in accounts receivable due from related parties |
-285,515 |
309,439 |
|
Decrease (increase) in other receivable |
-88,463 |
-47,511 |
|
Decrease (increase) in inventories |
-587,458 |
-248,822 |
|
Decrease (increase) in prepayments |
-196,144 |
158,985 |
|
Decrease (increase) in other current assets |
275,982 |
-162,157 |
|
Total changes in operating assets |
-1,918,865 |
449,243 |
|
Changes in operating liabilities |
|
|
|
Increase (decrease) in financial liabilities held for trading |
-240 |
-3,674 |
|
Increase (decrease) in notes payable |
33,498 |
14,925 |
|
Increase (decrease) in notes payable to related parties |
69,510 |
-300,850 |
|
Increase (decrease) in accounts payable |
137,477 |
-211,680 |
|
Increase (decrease) in accounts payable to related parties |
-305,679 |
-56,534 |
|
Increase (decrease) in other payable |
668,553 |
-325,068 |
|
Increase (decrease) in other current liabilities |
102,561 |
-46,893 |
|
Total changes in operating liabilities |
705,680 |
-929,774 |
|
Total changes in operating assets and liabilities |
-1,213,185 |
-480,531 |
|
Total adjustments |
1,202,519 |
3,154,249 |
|
Cash inflow (outflow) generated from operations |
5,374,458 |
5,814,181 |
|
Interest received |
20,777 |
16,661 |
|
Dividends received |
967,716 |
129,404 |
|
Interest paid |
-216,324 |
-216,579 |
|
Income taxes refund (paid) |
-325,832 |
-258,134 |
|
Net cash flows from (used in) operating activities |
5,820,795 |
5,485,533 |
|
Cash flows from (used in) investing activities |
|
|
|
Acquisition of available-for-sale financial assets |
-390,435 |
0 |
|
Proceeds from disposal of available-for-sale financial assets |
0 |
655,552 |
|
Acquisition of investments accounted for using equity method |
-119,154 |
-3,528,714 |
|
Acquisition of property, plant and equipment |
-1,893,163 |
-1,579,873 |
|
Proceeds from disposal of property, plant and equipment |
49,157 |
127,236 |
|
Increase in other non-current assets |
-422,244 |
138,619 |
|
Net cash flows from (used in) investing activities |
-2,775,839 |
-4,187,180 |
|
Cash flows from (used in) financing activities |
|
|
|
Increase in short-term loans |
-1,101,334 |
868,351 |
|
Increase in short-term notes and bills payable |
1,099,662 |
849,922 |
|
Proceeds from long-term debt |
7,200,000 |
11,510,000 |
|
Repayments of long-term debt |
-8,107,115 |
-12,451,758 |
|
Increase in other non-current liabilities |
79,216 |
57,595 |
|
Cash dividends paid |
-1,684,664 |
-1,684,665 |
|
Change in non-controlling interests |
-60,703 |
-151,495 |
|
Net cash flows from (used in) financing activities |
-2,574,938 |
-1,002,050 |
|
Effect of exchange rate changes on cash and cash equivalents |
261,905 |
53,886 |
|
Net increase (decrease) in cash and cash equivalents |
731,923 |
350,189 |
|
Cash and cash equivalents at beginning of period |
3,064,945 |
2,714,756 |
|
Cash and cash equivalents at end of period |
3,796,868 |
3,064,945 |
|
Cash and cash equivalents reported in the statement of financial
position |
3,796,868 |
3,064,945 |
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
|
Case Type: |
Certificate No.: |
Debtor Name: |
Document Number: |
Date of Registration: |
Date of Alteration: |
Status: |
|
Chattel Mortgage |
023039 |
Formosa Taffeta Co., Ltd. |
039050 |
1985/4/4 |
1985/4/4 |
Paid Off |
|
Chattel Mortgage |
023096 |
Formosa Taffeta Co., Ltd. |
039329 |
1985/4/16 |
1985/4/16 |
Paid Off |
|
Chattel Mortgage |
027186 |
Formosa Taffeta Co., Ltd. |
109991 |
1987/3/19 |
1987/3/19 |
Paid Off |
|
Chattel Mortgage |
028565 |
Formosa Taffeta Co., Ltd. |
259329 |
1987/9/9 |
1987/9/9 |
Paid Off |
|
Chattel Mortgage |
029924 |
Formosa Taffeta Co., Ltd. |
196823 |
1988/3/5 |
1988/3/5 |
Paid Off |
|
Chattel Mortgage |
031317 |
Formosa Taffeta Co., Ltd. |
292073 |
1988/8/27 |
1988/8/27 |
Paid Off |
|
Chattel Mortgage |
032240 |
Formosa Taffeta Co., Ltd. |
294835 |
1988/12/8 |
1988/12/8 |
Paid Off |
|
Chattel Mortgage |
033490 |
Formosa Taffeta Co., Ltd. |
198736 |
1989/5/30 |
1989/5/30 |
Paid Off |
|
Chattel Mortgage |
037934 |
Formosa Taffeta Co., Ltd. |
109821 |
1991/7/30 |
1991/7/30 |
Paid Off |
|
Chattel Mortgage |
038368 |
Formosa Taffeta Co., Ltd. |
326623 |
1991/10/7 |
1991/10/7 |
Paid Off |
|
Chattel Mortgage |
043958 |
Formosa Taffeta Co., Ltd. |
393876 |
1993/12/20 |
|
Paid Off |
|
Chattel Mortgage |
047008 |
Formosa Taffeta Co., Ltd. |
240633 |
1995/1/26 |
|
Paid Off |
|
Chattel Mortgage |
047104 |
Formosa Taffeta Co., Ltd. |
241120 |
1995/2/14 |
|
Paid Off |
|
Chattel Mortgage |
049749 |
Formosa Taffeta Co., Ltd. |
694483 |
1995/12/20 |
|
Paid Off |
|
Chattel Mortgage |
052937 |
Formosa Taffeta Co., Ltd. |
985293 |
1997/1/14 |
|
Paid Off |
|
Chattel Mortgage |
056617 |
Formosa Taffeta Co., Ltd. |
820116 |
1998/1/6 |
|
Paid Off |
|
Chattel Mortgage |
060869 |
Formosa Taffeta Co., Ltd. |
851117 |
1999/2/1 |
|
Paid Off |
|
Chattel Mortgage |
061872 |
Formosa Taffeta Co., Ltd. |
855087 |
1999/5/14 |
|
Paid Off |
|
Chattel Mortgage |
065984 |
Formosa Taffeta Co., Ltd. |
569624 |
2000/5/19 |
|
Paid Off |
|
Chattel Mortgage |
070992 |
Formosa Taffeta Co., Ltd. |
09005125030 |
2001/7/26 |
|
Paid Off |
|
Chattel Mortgage |
096760 |
Formosa Taffeta Co., Ltd. |
09830411270 |
2009/2/17 |
|
Paid Off |
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.66.14 |
|
|
1 |
Rs.100.55 |
|
Euro |
1 |
Rs.71.26 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ANK |
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.