|
Report No. : |
342367 |
|
Report Date : |
09.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
CHANG CHUN PETROCHEMICAL CO., LTD. |
|
|
|
|
Registered Office : |
7F, No. 301, Songkiang Rd., Taipei City,
R.O.C. |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
10.07.1964 |
|
|
|
|
Com. Reg. No.: |
11384806 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and Sales of Chemicals. |
|
|
|
|
No. of Employees : |
About 1,600 Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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: |
+886-2-2503-8131/ 2500-1800 |
|
Fax Number: |
Notes: The exact name and address are as
above.
|
Registered Name: |
Chang Chun Petrochemical Co., Ltd. |
|
Registered Address: |
7F, No. 301, Songkiang Rd., Taipei City,
Taiwan R.O.C. |
|
Date of Foundation: |
|
|
Registration Number: |
11384806 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs,
R.O.C. |
|
Registered Capital: |
NTD 7,151,862,870
(USD 228,859,611.84) (As of 2015.10, 1 NTD = 0.0320 USD) |
|
Paid-up Capital: |
NTD 7,151,862,870 (USD 228,859,611.84) |
|
Legal Representatives: |
Longxing Liao |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Subject was incorporated
on 1964-7-10 with registered number 11384806
as Joint Stock Company in
Taiwan.
Subject was public offer without listing on
1981-11-1 with the symbol code 1764.
Factories
|
1 |
|
|
Name: |
Chang Chun Petrochemical Co., Ltd. Miao-Li Factory |
|
Address: |
No. 246-3, No.246, Fusingshan, Miaoli City, Miaoli County 360, Taiwan
(R.O.C.) |
|
Tel |
+886-37-320673 |
|
Fax |
+886-37-333920 |
|
Date of Foundation: |
1969-1-1 |
|
Date of Registration: |
1969-11-7 |
|
Factory Registration Number: |
99631525 |
|
Factory Manager: |
Chaoxing Chen |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2015-8-18 |
|
Major Products: |
089 other food 181 basic chemicals 184 synthetic resin, plastic and rubber 199 other chemicals 220 plastic products 339 other products |
|
2 |
|
|
Name: |
Chang Chun Petrochemical Co., Ltd. Miao-Li 2nd Factory |
|
Address: |
No.245, Fusingshan, Miaoli City, Miaoli County 360, Taiwan (R.O.C.) |
|
Date of Foundation: |
1976-11-5 |
|
Date of Registration: |
1978-9-25 |
|
Factory Registration Number: |
99631524 |
|
Factory Manager: |
Chaoxing Chen |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2015-1-23 |
|
Major Products: |
089 other food 181 basic chemicals 184 synthetic resin, plastic and rubber 199 other chemicals 220 plastic products 243 copper 254 processing of metal |
|
3 |
|
|
Name: |
Chang Chun Petrochemical Co., Ltd. Mailiao Factory |
|
Address: |
No.26, 7 Lin, Formosa Industrial Park, Sansheng Village, Mailiao Township,
Yunlin County, Taiwan (R.O.C.) |
|
Date of Registration: |
2002-8-15 |
|
Factory Registration Number: |
99653756 |
|
Factory Manager: |
Jinjun Cai |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2015-1-13 |
|
Major Products: |
181 basic chemicals 182 petrochemical materials 184 synthetic resin, plastic and rubber |
|
4 |
|
|
Name: |
Chang Chun Petrochemical Co., Ltd. Dafa Factory |
|
Address: |
No.11, Jianye Rd., Daliao Dist., Kaohsiung City, Taiwan (R.O.C.) |
|
Date of Foundation: |
1988-8-31 |
|
Date of Registration: |
1992-5-4 |
|
Factory Registration Number: |
99665402 |
|
Factory Manager: |
Houfu Chen |
|
Status: |
In Production |
|
Date of Last Annual Return: |
2014-1-26 |
|
Major Products: |
339 other products 199 other chemicals |
Major Related Companies
|
1 |
|
|
Name: |
Chang Chun Plastics Co., Ltd. |
|
2 |
|
|
Name: |
Chang Chun Petrochemical Co., Ltd. |
|
|
|
|
Name: |
Tai Hong Circuit Ind. Co., Ltd. |
|
3 |
|
|
Name: |
Dairen Chemical Corporation |
|
4 |
|
|
Name: |
Chang Chiang Chemical Co., Ltd. |
|
5 |
|
|
Name: |
Tsu-Kong Co., Ltd. |
|
6 |
|
|
Name: |
Triplex Chemical Corporation |
|
7 |
|
|
Name: |
Ji Lin Chemical Co., Ltd. |
|
8 |
|
|
Name: |
Polyplastics Taiwan Co., Ltd. |
|
9 |
|
|
Name: |
Sumitomo Bakelite (Taiwan) Corporation
Limited |
|
10 |
|
|
Name: |
PT. Chang Chun DPN Chemical Industry |
|
11 |
|
|
Name: |
Guangdong Shen Xing Chemical Ltd. Co. |
|
|
|
|
Name: |
OK Taiwan Co., Ltd. |
|
12 |
|
|
Name: |
Trcct Technology Co., Ltd. |
|
13 |
|
|
Name: |
Chang Chun Japan Co., Ltd. |
Major Shareholders
|
Name |
Subscription Shares |
|
Longxing Liao |
56,792,372 |
|
Xinyi Zheng |
108,528,233 |
|
Shuhong Lin |
17,993,236 |
|
Xiandong Lin |
34,645,757 |
|
Zheng Zheng |
36,757,378 |
|
Bokai Liao |
5,738,513 |
|
Qingying Lin |
38,552,277 |
|
Xianzhang Chen |
351,521 |
|
Jie Wang |
5,738,513 |
Core Management
Directors
|
1 |
|
|
Name |
Longxing Liao |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Xinyi Zheng |
|
Position |
Executive Director |
|
3 |
|
|
Name |
Shuhong Lin |
|
Position |
Executive Director |
|
4 |
|
|
Name |
Xiandong Lin |
|
Position |
Director |
|
5 |
|
|
Name |
Zheng Zheng |
|
Position |
Director |
|
6 |
|
|
Name |
Bokai Liao |
|
Position |
Director |
|
7 |
|
|
Name |
Qingying Lin |
|
Position |
Director |
|
8 |
|
|
Name |
Houfu Chen |
|
Position |
Director |
|
9 |
|
|
Name |
Xianzhang Chen |
|
Position |
Director |
|
10 |
|
|
Name |
Jie Wang |
|
Position |
Supervisor |
|
11 |
|
|
Name |
Shiguang Su |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
About 1,600 Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
Production Information
Subject is a manufacturer of chemicals,
etc.
Subject has four factories in Taiwan for
production and the total area is about 450,000 square meters.
Subject has obtained the certifications of ISO
9000, ISO 14001 and OHSAS 18000, etc.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
C801010 |
Basic chemical manufacturing industry |
|
C801030 |
Precision chemical material manufacturing industry |
|
C802060 |
Animal drug manufacturing industry |
|
C802120 |
Additive manufacturing industry |
|
C801020 |
Petrochemical raw materials manufacturing industry |
|
C801040 |
Synthetic resin manufacturing industry |
|
C801050 |
Plastic raw material manufacturing industry |
|
CB01030 |
Pollution controlling equipment manufacturing industry |
|
CC01010 |
Power generation, transmission and distribution machinery
manufacturing industry |
|
CC01020 |
Electric wires and cables manufacturing industry |
|
CC01050 |
Data storage and processing equipment manufacturing industry |
|
CC01080 |
Electronic parts and components manufacturing industry |
|
E599010 |
Piping engineering industry |
|
I601010 |
Leasing industry |
|
J101040 |
Waste treatment and disposal industry |
|
A101020 |
Crops growing industry |
|
C201010 |
Feed manufacturing industry |
|
C401010 |
Leather finishing industry |
|
C601010 |
Pulp manufacturing industry |
|
C601020 |
Paper manufacturing industry |
|
C601030 |
Paper container manufacturing industry |
|
C801060 |
Synthetic rubber manufacturing industry |
|
C801070 |
High pressure gas industry |
|
C802010 |
Fertilizers manufacturing industry |
|
C802020 |
Man-made fibers manufacturing industry |
|
C802030 |
Coatings and paint industry |
|
C802090 |
Cleaning preparations manufacturing industry |
|
C901020 |
Glass and glass products manufacturing industry |
|
CA01110 |
Copper industry |
|
CA03010 |
Metal heat treating industry |
|
CA04010 |
Metal surface treating industry |
|
CB01010 |
Machinery and equipment manufacturing industry |
|
CC01060 |
Wired communications equipment and apparatus manufacturing industry |
|
ZZ99999 |
Besides licensed business, all other business items that are not
banned or restricted. |
The raw materials for production are purchased from both home and abroad
such as Taiwan domestic market and Southeast Asia, etc.
Subject is mainly engaged in sales of
chemicals, etc.
Subject’s major products include polyvinyl alcohol, glacial acetic acid,
butyl acetate, formalin, hexamine, hydrogen peroxide, ultra-purity electronic
grade hydrogen peroxide, epoxidized soya bean oil, copper foil, antioxidants
and melamine, etc.
It is introduced that the products sold by subject are applied to the
industries of textile, coating, semi-conductor, pharmaceutical, electronic, paper
and plastic, etc.
Subject’s sales regions include Asia, America, Europe and Africa, etc.
Subject’s major customers are Quadra Chemicals Ltd and Ei Dupont De
Nemours & Co Inc, etc.
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
Domestic Purchase
|
Products |
Raw materials, etc |
|
Payment Terms |
T/T, etc |
Import
|
Products |
Raw materials, etc |
|
Payment Terms |
L/C, T/T, etc |
Sales
Domestic Markets
|
Product |
Chemicals, etc |
|
Selling Terms |
T/T, etc |
Export
|
Product |
Chemicals, etc |
|
Selling Terms |
L/C, T/T, etc |
Unit: NTD/000
|
|
2014-12-31 |
2013-12-31 |
|
Assets |
|
|
|
Current Assets |
|
|
|
Cash and cash equivalents |
191,690.00 |
769,818.00 |
|
Derivative financial assets from safety-current |
215,960.00 |
0.00 |
|
Notes receivable - net |
59,112.00 |
65,702.00 |
|
Notes receivable - related parties - net |
0.00 |
139.00 |
|
Accounts receivable - net |
4,130,419.00 |
3,777,525.00 |
|
Accounts receivable - related parties - net |
3,157,850.00 |
2,913,263.00 |
|
Other financial assets - current |
1,398,577.00 |
1,871,377.00 |
|
Inventories |
7,621,785.00 |
7,850,492.00 |
|
Other current assets |
179,009.00 |
177,155.00 |
|
Current assets |
16,954,402.00 |
17,425,471.00 |
|
Funds and Investments |
|
|
|
Available-for-sale financial assets-non current |
1,296.00 |
1,296.00 |
|
Derivative financial assets for Hedging -non-current |
328,493.00 |
0.00 |
|
Financial assets at cost-non current |
385,561.00 |
385,561.00 |
|
Long-term equity investments under the equity method |
36,484,573.00 |
34,995,375.00 |
|
Investments |
36,484,573.00 |
34,995,375.00 |
|
Other financial assets – non current |
202,890.00 |
52,586.00 |
|
Funds and investments |
37,402,813.00 |
35,434,818.00 |
|
Fixed Assets |
|
|
|
Cost |
|
|
|
Land |
3,222,749.00 |
3,200,231.00 |
|
Land improvements |
104,311.00 |
104,311.00 |
|
Buildings and structures |
4,707,997.00 |
4,462,240.00 |
|
Machinery and equipment |
41,680,684.00 |
40,698,007.00 |
|
Transportation equipment |
269,035.00 |
256,638.00 |
|
Leasehold improvements |
87,839.00 |
87,839.00 |
|
Other facilities |
5,649,669.00 |
5,358,347.00 |
|
Revaluation increment |
135,298.00 |
135,675.00 |
|
Cost and revaluation increment |
55,857,582.00 |
54,303,288.00 |
|
Accumulated depreciation |
-34,661,095.00 |
-31,928,156.00 |
|
Construction in process and prepayment for equipment |
3,298,062.00 |
1,701,836.00 |
|
Fixed assets |
24,494,549.00 |
24,076,968.00 |
|
Intangible Assets |
|
|
|
Other assets |
|
|
|
Deferred income tax assets – non current |
464,934.00 |
604,924.00 |
|
Other assets - other |
110,712.00 |
93,256.00 |
|
Other assets |
575,646.00 |
698,180.00 |
|
Assets |
79,427,410.00 |
77,635,437.00 |
|
Liabilities and Stockholders' Equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowing |
6,409,500.00 |
8,199,142.00 |
|
Derivative Financial Liabilities For Hedging - current |
0.00 |
50,647.00 |
|
Notes payable – related parties |
61,242.00 |
73,308.00 |
|
Accounts payable |
1,596,133.00 |
1,545,429.00 |
|
Accounts payable – related parties |
203,251.00 |
263,991.00 |
|
Income tax payable |
679,281.00 |
378,378.00 |
|
Accrued expenses |
1,673,032.00 |
1,518,930.00 |
|
Other financial liabilities - current |
579,103.00 |
503,692.00 |
|
Other current liabilities |
267,075.00 |
169,067.00 |
|
Current liabilities |
11,468,617.00 |
12,702,584.00 |
|
Long term Liabilities |
|
|
|
Derivative Financial Liabilities For Hedging – non current |
0.00 |
49,016.00 |
|
Long-term loans |
11,894,500.00 |
13,985,650.00 |
|
Long term liabilities |
11,894,500.00 |
14,034,666.00 |
|
Reserves |
|
|
|
Other Liabilities |
|
|
|
Pension reserve / accrued pension liability |
1,273,060.00 |
1,312,519.00 |
|
Guarantee deposit received |
207,349.00 |
207,349.00 |
|
Other liabilities - other |
30,717.00 |
20,362.00 |
|
Other liabilities |
1,511,126.00 |
1,540,230.00 |
|
Liabilities |
24,874,243.00 |
28,277,480.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
7,151,863.00 |
5,090,294.00 |
|
Capital Surplus |
|
|
|
Capital surplus – long-term investment |
19,487.00 |
19,487.00 |
|
Capital surplus |
19,487.00 |
19,487.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
6,373,864.00 |
5,958,259.00 |
|
Special reserve |
81,798.00 |
48,659.00 |
|
Unappropriated retained earnings |
38,687,634.00 |
36,848,967.00 |
|
Retained earnings |
45,143,296.00 |
42,855,885.00 |
|
Stockholders' Equity and Other adjustment |
|
|
|
Cumulative translation adjustments |
2,174,940.00 |
1,377,269.00 |
|
Profit (loss) of not recognized pension cost |
-4,236.00 |
0.00 |
|
Unrealized gains (losses) on financial instruments |
-29,003.00 |
-81,798.00 |
|
Unrealized revaluation increment |
96,820.00 |
96,820.00 |
|
Stockholders other equity adjustments |
2,238,521.00 |
1,392,291.00 |
|
Stockholders-equity |
54,553,167.00 |
49,357,957.00 |
|
Number of treasury stock acquired by the company and subsidiaries
(unit: share) |
0.00 |
0.00 |
|
Equivalent shares of outstanding of advance receipts for common stock
(unit: share) |
0.00 |
0.00 |
Unit: NTD/000
|
|
2014 |
2013 |
|
Sales |
48,412,434.00 |
43,142,256.00 |
|
Sales return |
100,988.00 |
188,689.00 |
|
Sales discounts |
243,408.00 |
189,655.00 |
|
Sales |
48,068,038.00 |
42,763,912.00 |
|
Operating income |
48,068,038.00 |
42,763,912.00 |
|
Selling cost |
40,326,301.00 |
37,223,079.00 |
|
Operating cost |
40,326,301.00 |
37,223,079.00 |
|
Gross profit (loss) from operations |
7,741,737.00 |
5,540,833.00 |
|
Unrealized gains on intercompany transactions |
0.00 |
20,362.00 |
|
Realized gains on intercompany transactions |
20,362.00 |
29,099.00 |
|
Selling expense |
1,875,153.00 |
1,691,144.00 |
|
General and administrative expenses |
307,114.00 |
247,587.00 |
|
Research and development expenses |
141,506.00 |
127,480.00 |
|
Operating expenses |
2,323,773.00 |
2,066,211.00 |
|
Operating income (loss) |
5,438,326.00 |
3,483,359.00 |
|
Non-Operating Income |
|
|
|
Interest income |
12,662.00 |
14,964.00 |
|
Investment income |
1,569,981.00 |
1,325,304.00 |
|
Investment income under equity method |
1,276,792.00 |
1,182,891.00 |
|
Dividend income |
293,189.00 |
142,413.00 |
|
Gain on disposal of fix assets |
0.00 |
5,104.00 |
|
Foreign exchange gains |
392,376.00 |
226,664.00 |
|
Miscellaneous income |
354,325.00 |
317,844.00 |
|
Non-operating revenues and gains |
2,329,344.00 |
1,889,880.00 |
|
Non-Operating Expenses |
|
|
|
Interest expense |
245,817.00 |
286,585.00 |
|
Loss of fixed assets |
10,520.00 |
0.00 |
|
Loss of investment assets |
77.00 |
0.00 |
|
Miscellaneous disbursements |
23,341.00 |
28,152.00 |
|
Non-operating expenses and losses |
279,755.00 |
314,737.00 |
|
Income (loss)from continuing operations before income tax |
7,487,915.00 |
5,058,502.00 |
|
Income tax expense (benefit) |
731,226.00 |
902,453.00 |
|
Income (loss) from continuing operations |
6,756,689.00 |
4,156,049.00 |
|
Net income (loss) |
6,756,689.00 |
4,156,049.00 |
Unit: NTD/000
|
|
2014 |
2013 |
|
Cash Flows from Operating Activities - Indirect Method |
|
|
|
Net Income (Loss) |
6,756,689.00 |
4,156,049.00 |
|
Adjustment items |
|
|
|
Depreciation Expense |
2,785,093.00 |
2,677,988.00 |
|
Transfer income from bad debt |
-29,167.00 |
-- |
|
Loss (Gain) on Decline (Recovery) in Market Value, Scrap and
Obsolescence of Inventories |
-- |
-461,102.00 |
|
Investment Income Recognized under Equity Method |
-1,276,792.00 |
-1,182,891.00 |
|
Invested Company Cash Dividend under Equity Method |
739,704.00 |
451,305.00 |
|
Gain on Disposal of Fix Assets |
10,520.00 |
-5,104.00 |
|
Loss on Disposal Of Investment Assets |
77.00 |
-- |
|
Other |
|
- |
|
Changes in Operating Assets and Liabilities |
|
|
|
Changes in Operating Assets |
|
|
|
Notes Receivable |
6,729.00 |
346,427.00 |
|
Account Receivable |
-421,541.00 |
24,430.00 |
|
Inventories |
228,707.00 |
185,841.00 |
|
Other Current Assets |
-6,973.00 |
95,875.00 |
|
Other Financial Assets - current |
326,027.00 |
-351,106.00 |
|
Deferred Income Tax Assets |
30,412.00 |
499,748.00 |
|
Changes in Operating Liabilities |
|
|
|
Notes Payable |
-12,066.00 |
-97,405.00 |
|
Account Payable |
-10,036.00 |
42,790.00 |
|
Income Tax Payable |
300,903.00 |
172,754.00 |
|
Accrued Expenses |
154,102.00 |
184,722.00 |
|
Other Financial Liabilities |
-67,273.00 |
4,516.00 |
|
Other Current Liability |
79,308.00 |
94,337.00 |
|
Accrued Pension Liabilities |
-39,459.00 |
-30,539.00 |
|
Deferred credit |
-20,362.00 |
-8,737.00 |
|
Net Cash Flows from Operating Activities |
9,534,602.00 |
6,799,898.00 |
|
Cash Flows from Investing Activities |
|
|
|
Acquisition of investments accounted for using equity method |
4,602.00 |
- |
|
Financial Assets At Cost – Non Current |
- |
-15,986.00 |
|
Increased in Long-term Equity Investments under Equity Method |
-1,061.00 |
-2,163,676.00 |
|
Purchase of Property, Plant and Equipment |
-3,133,267.00 |
-2,196,831.00 |
|
Proceeds from Disposal of Property, Plant and Equipment |
6,527.00 |
8,617.00 |
|
Other financial assets-non-current |
-150,304.00 |
-12,796 |
|
Other Assets |
-17,456.00 |
-75,783.00 |
|
Net Cash Provided by (Used in) Investing Activities |
-3,290,959.00 |
-4,456,455.00 |
|
Cash Flows from Financing Activities |
|
|
|
Short-term Borrowing |
-1,835,542.00 |
-1,240,547.00 |
|
Long-term Loans Borrowing |
-2,634,750.00 |
2,887,200.00 |
|
Repay long-term loans |
- |
-3,200,000.00 |
|
Guarantee Deposit Received |
- |
-300.00 |
|
Issue Cash Dividend |
-2,351,479.00 |
-755,263.00 |
|
Net Cash Provided by (Used in) Financial Activities |
-6,821,771.00 |
-2,317,647.00 |
|
Net Increase (Decrease) in Cash and Cash Equivalents |
-578,128.00 |
34,533.00 |
|
Cash and Cash Equivalents, Beginning of year |
769,818.00 |
735,285.00 |
|
Cash and Cash Equivalents, End of year |
191,690.00 |
769,818.00 |
|
Supplemental Cash Flow Information |
|
|
|
Non Capitalized Interest-Interest Paid |
247,906.00 |
287,324.00 |
|
Payable Income Tax |
399,911.00 |
229,952.00 |
|
Non-Cash Investing and Financing Activities |
|
|
|
Capital surplus increase |
2,061,569.00 |
- |
|
Fix Assets |
3,219,721.00 |
2,263,269.00 |
|
Add: Other Payables, Beginning of year |
330,254.00 |
263,816.00 |
|
Minus: Other Payables, End of year |
-416,708.00 |
-330,254.00 |
|
|
3,133,267.00 |
2,196,831.00 |
Note: The above financial figures are based on
the Taiwan generally accepted accounting principle.
Mortgage
|
1 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
067333 |
|
Debtor Name: |
Chang Chun Petrochemical Co., Ltd. |
|
Document Number: |
574748 |
|
Date of Registration: |
2000-8-29 |
|
Status: |
Paid Off |
|
2 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
067377 |
|
Debtor Name: |
Chang Chun Petrochemical Co., Ltd. |
|
Document Number: |
574895 |
|
Date of Registration: |
2000-8-31 |
|
Status: |
Paid Off |
|
3 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
068663 |
|
Debtor Name: |
Chang Chun Petrochemical Co., Ltd. |
|
Document Number: |
579757 |
|
Date of Registration: |
2000-12-11 |
|
Status: |
Paid Off |
|
4 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
072672 |
|
Debtor Name: |
Chang Chun Petrochemical Co., Ltd. |
|
Document Number: |
09105061590 |
|
Date of Registration: |
2002-3-13 |
|
Status: |
Paid Off |
|
5 |
|
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
075958 |
|
Debtor Name: |
Chang Chun Petrochemical Co., Ltd. |
|
Document Number: |
09205110310 |
|
Date of Registration: |
2003-5-15 |
|
Status: |
Paid Off |
Lawsuit
Up to date of reporting, no existing or latent
litigation of the subject has been found.
|
Name: |
Ms. Lin |
|
Department: |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.16 |
|
|
1 |
Rs.99.78 |
|
Euro |
1 |
Rs.73.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
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.