|
Report No. : |
344733 |
|
Report Date : |
15.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
OCEAN PLASTICS CO., LTD. |
|
|
|
|
Registered Office : |
5, 6th Fl., 310, Chukwang Rd., Taipei Taiwan
R.O.C. |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
07.06.1965 |
|
|
|
|
Com. Reg. No.: |
15024509 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and sale of plastic products. |
|
|
|
|
No. of Employees : |
About 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 : |
Slow but correct |
|
|
|
|
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: |
+886-2-2308-1188/2306-2131 |
|
Fax Number: |
|
|
E-mail: |
Notes: Subject’s exact name and address are as
above.
Subject was
incorporated on 1965-6-7 with registered number 15024509
as Joint Stock Company in Taiwan.
Subject
listed on Taiwan stock exchange on 1999-1-26.
History:
|
2008 |
Ocean Plastics (Hui Zhou) Co., Ltd. was
established, manufacturing flexible sheet. |
|
2006 |
Ocean Plastics (Dong Guan) Co., Ltd. was
established, manufacturing PU leather. |
|
2003 |
Ocean factory, Tao-Yuan factory, Chung-Li factory
achieved ISO 9001 (Version 2000) quality certification. |
|
2002 |
Hunan Ocean Wide Plastics Ltd. was established,
manufacturing rigid PVC pipes. It's OPC first beginning to enter China local
market of construction. |
|
2000 |
The company restructured the organizations, established
Plastic Processing Business Department(originally Ocean factory), PVC Raw
Material Business Department(originally Tao-Yuan factory), and Construction
Material Business Department(originally Chung-Li factory) |
|
1999 |
OPC was public on TSE(Taiwan Stock Exchange
Market), Chung-Li factory achieved ISO 14001 Environmental certification. |
|
1999-1-26 |
Subject was listed in Taiwan Stock Exchange on |
|
1998 |
Water-based PU was developed, and began to develop
environmental friendly materials. |
|
1997 |
Ocean factory achieved ISO 9002 quality
certification. The Tao-Yuan factory was granted RW-TuV ISO 9002 quality
certification. |
|
1996 |
Chung-Li factory was granted ISO 9002 quality
certification. |
|
1995 |
.New item of PVC rigid sheets were added to our
product lines. |
|
1994 |
The Ocean factory achieved DNV ISO 9002 quality
certification. |
|
1993 |
Started producing polymer-blended compound for OA
housing. |
|
1991 |
Developed conductive PVC pellet, entered into IC
tube packaging industry. |
|
1990 |
PVC rigid board and PVC foam plate were added to
our product lines. |
|
1987 |
PVC transparent pellet for general medical
equipment(such as oxygen mask) |
|
1985 |
Chung-Li factory was established, manufacturing
rigid PVC pipes |
|
1978 |
R&D department was founded. |
|
1976 |
Tao-Yuan factory was established, manufacturing
PVC resin. |
|
1970 |
With the technology license from a Japanese company
Akimai Gomu Co., Ltd., began manufacturing high quality sponge leather and
polyurethane leather. |
|
1967 |
PVC printed sheets and plastic wallpaper were
added to our product lines. |
|
1965 |
With the technology license from a Japanese company
Kanegafuchi Chemical Co., started to produce PVC resin. And Ocean factory was
established in Chung-Ho city in Taipei, manufacturing PVC sheets, pipes,
films and leather. |
Factories
|
1 |
|
|
Name: |
Taoyuan 2nd Factory |
|
Address: |
No.
375, Haihu E. Rd., Luzhu Township, Taoyuan County, Taiwan (R.O.C.) |
|
Date of Registration: |
2003-11-13 |
|
Factory Registration Number: |
99687301 |
|
Factory Manager: |
Qinming
Chen |
|
Status: |
In
production |
|
Date of Last Annual Return: |
2014-12-15 |
|
Major Products: |
184
Synthetic resin, plastic and rubber |
|
2 |
|
|
Name: |
Taoyuan Factory |
|
Address: |
No.
375, Haihu E. Rd., Luzhu Township, Taoyuan County, Taiwan (R.O.C.) |
|
Date
of Foundation: |
1969-1-1 |
|
Date of Registration: |
1978-4-4 |
|
Factory Registration Number: |
99621648 |
|
Factory Manager: |
Qinming
Chen |
|
Status: |
In
Production |
|
Date of Last Annual Return: |
2014-12-15 |
|
Major Products: |
184
Synthetic resin, plastic and rubber 220
Plastic products |
|
3 |
|
|
Name: |
Zhongli Factory |
|
Address: |
No.
539, Longxing Rd., Houliao Li, Zhongli Dist., Taoyuan County, Taiwan |
|
Date of Foundation: |
1986-9-13 |
|
Date of Registration: |
1987-10-27 |
|
Factory Registration Number: |
99621643 |
|
Factory Manager: |
Qinming
Chen |
|
Status: |
In
Production |
|
Date of Last Annual Return: |
2001-8-8 |
|
Major Products: |
220
Plastic products |
|
4 |
|
|
Name: |
Dayang Factory |
|
Address: |
No.
353, Sec. 2, Zhongshan Rd., Zhonghe Dist., New Taipei City, Taiwan (R.O.C.) |
|
Date of Foundation: |
1969-1-1 |
|
Date of Registration: |
1969-12-1 |
|
Factory Registration Number: |
99600860 |
|
Factory Manager: |
Qinming
Chen |
|
Status: |
In
production |
|
Date of Last Annual Return: |
2001-8-6 |
|
Major Products: |
220
Plastic products |
|
5 |
|
|
Name: |
Taoyuan 3rd Factory |
|
Address: |
No.
375, Haihu E. Rd., Luzhu Township, Taoyuan County, Taiwan (R.O.C.) and No.66,
Lane 239, Haihu E. Rd., Taoyuan County, Taiwan (R.O.C.) |
|
Date of Registration: |
2013-5-13 |
|
Factory Registration Number: |
03001682 |
|
Factory Manager: |
Qinming
Chen |
|
Status: |
In
production |
|
Date of Last Annual Return: |
2013-5-13 |
|
Major Products: |
220
Plastic products |
Related Companies
|
1 |
|
|
Name: |
Ocean
Plastics (Hui Zhou) Co., Ltd. |
|
Tel:
|
+886-752-3728896 |
|
Fax: |
+886-752-3728890 |
|
2 |
|
|
Name: |
Ocean
Plastics (Dong Guan) Co., Ltd. |
|
Address: |
Weiwu
Industrial, Nan Ya Country, Daoyao Town, Dongguan City, The Mainland Of China |
|
Tel:
|
+886-769-81331601 |
|
Fax: |
+886-769-88328980 |
|
3 |
|
|
Name: |
Hunan
Ocean Wide Plastics Ltd. |
|
Address: |
No.
7, Wangwang East Road, Gao Tang Ling Town, Wangcheng County, Changsha City,
Hunan Province, The Mainland Of China |
|
Tel:
|
+886-731-8054888/8054889 |
|
Fax: |
+886-731-8054885 |
Office
|
Address:
|
No.
131, Jianping 14 Street, Tainan, Taiwan. |
|
Tel:
|
+886-6-297-4511 |
Major Shareholders
|
Name |
Subscription
Shares |
|
Qinming Chen |
5,695,202 |
|
Xuan Yang Investment Co., Ltd (Literal
Translation) |
|
|
1,440,247 |
|
|
Want-Want
Co., Ltd. |
2,976,669 |
|
Lixiang
Enterprise Co., Ltd (Literal
Translation) |
160,000 |
|
Qinxiong
Chen |
3,943,860 |
|
Rugeng
Wang |
731,230 |
Major
Shareholder Information:
|
1 |
|
|
Registered Name: |
Xuan
Yang Investment Co., Ltd (Literal Translation) |
|
Registered Address: |
7F., No.310, Juguang Rd., Wanhua Dist., Taipei
City, Taiwan (R.O.C.) |
|
Date of Foundation: |
2004-12-12 |
|
Registration Number: |
89994353 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 20,000,000 (USD 614,000) (As of 2015.10, 1 NTD = 0.0307 USD) |
|
Paid-up Capital: |
NTD 20,000,000 (USD 614,000) |
|
Legal Representatives: |
Caiyu Chenzhou |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-6-24 |
|
2 |
|
|
Registered Name: |
Want-Want
Co., Ltd. |
|
Registered Address: |
5F, No. 72, Sec. 1, Xining N. Rd., Datong Dist.,
Taipei City, Taiwan (R.O.C.) |
|
Date of Foundation: |
1987-3-17 |
|
Registration Number: |
22421075 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 151,800,000 (USD 4,660,260) (As of 2015.10, 1 NTD = 0.0307 USD) |
|
Paid-up Capital: |
NTD 151,800,000 (USD 4,660,260) |
|
Legal Representatives: |
Yusheng Li |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2015-1-22 |
|
3 |
|
|
Registered Name: |
Lixiang
Enterprise Co., Ltd (Literal Translation) |
|
Registered Address: |
5/F., No.310, Juguang Rd., Wanhua Dist., Taipei
City, Taiwan (R.O.C.) |
|
Date of Foundation: |
2014-7-7 |
|
Registration Number: |
24565203 |
|
Registry: |
Taipei City Government |
|
Registered Capital: |
NTD 15,000,000 (USD 460,500) (As of 2015.10, 1 NTD = 0.0307 USD) |
|
Paid-up Capital: |
NTD 15,000,000 (USD 460,500) |
|
Legal Representatives: |
Jinyun Shi |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
-- |
Core Management
Directors
|
1 |
|
|
Name |
Qinming
Chen |
|
Position |
Board
Chairman & Manager |
|
Date
of Appointment for the Manager |
1997-6-30 |
|
2 |
|
|
Name |
Junyan
Zhang |
|
Position |
Director |
|
3 |
|
|
Name |
Yuqin
Xie |
|
Position |
Director |
|
4 |
|
|
Name |
Zongbin
Zhu |
|
Position |
Director |
|
5 |
|
|
Name |
Qinxiong
Chen |
|
Position |
Director |
|
6 |
|
|
Name |
Rugeng
Wang |
|
Position |
Director |
|
7 |
|
|
Name |
Yiyun
Zhang |
|
Position |
Independence
Director |
|
8 |
|
|
Name |
Mingli
Hou |
|
Position |
Independence
Director |
|
9 |
|
|
Name |
Zhaomin
Lin |
|
Position |
Independence
Director |
Personnel Structure
|
Total
Employees |
About 600 Employees |
Offices
& Factories
|
|
Headquarters
|
|
Add |
Production
Information
·
Subject
is engaged in manufacturing of plastic products
·
It
is introduced that subject has factories in Taiwan for production.
·
Subject
obtained the certifications ISO 14001, ISO 9001 and ISO 9002.
Purchase Information
·
The
registered activities of subject:
|
Business
Code |
Details
|
|
-- |
Manufacture
and sales of plastic materials. |
|
-- |
Manufacture
and sales of raw materials for plastics
industry |
|
-- |
Manufacture
and sales of plastic industrial attach raw materials. |
|
C801020 |
Manufacture
of petrochemicalmaterials |
|
C801040 |
|
|
C801990 |
Manufacture
of other chemical materials |
|
H701010 |
Residential
and building developing and rental industry |
|
H701020 |
Industrial
plant developing and rental industry |
|
H703010 |
Renting
plant. |
|
H703030 |
Renting
office building |
|
F401010 |
International
trading business |
|
F301010 |
Department
store industry |
|
F301020 |
Super
market industry |
|
F301030 |
General
department store. |
|
ZZ99999 |
Besides
licensed business, all other business items those are not banned or
restricted. |
·
The
raw materials of the subject for production are both purchased home and abroad.
·
The
subject is mainly engaged in sale of plastic products
·
Subject’s
major products include PVC Sheet, PVC Leather, PVC Raw Material, PVC
Construction Material, DMF-Free ECO PU, Wood Plastic Composites
·
Subject’s
products are primarily applied in the manufacturing of file folders, stationery
related products, balls, shoes, purses, handbags, furniture, sports equipment,
tubes, as well as electrical insulating materials
·
The
subject distributes its products in Taiwan, Mainland China, Hong Kong, India
and the United States, Europe
·
Subject’s
major customers are manufacturers of shoes, sports products, auto parts
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 |
Sales
Domestic
Markets
|
Product |
Plastic
products |
|
Selling Terms |
T/T, Cash |
Export
|
Product |
Plastic
products |
|
Selling Terms |
L/C, T/T |
Unit: NTD/000
|
Consolidated |
2014-12-31 |
2013-12-31 (Restated) |
|
Assets |
|
|
|
Current assets |
|
|
|
Cash and cash equivalents |
|
|
|
Cash on hand |
345 |
4,424 |
|
Petty cash/revolving funds |
450 |
450 |
|
Cash in banks |
261,396 |
316,179 |
|
Total cash and cash equivalents |
262,191 |
321,053 |
|
Current financial assets at fair value through
profit or loss |
|
|
|
Current financial assets held for trading |
19,573 |
19,573 |
|
Adjustments for change in value of current financial
assets held for trading |
1,253 |
590 |
|
Total current financial assets at fair value
through profit or loss |
20,826 |
20,163 |
|
Notes receivable, net |
|
|
|
Notes receivable |
57,742 |
59,931 |
|
Notes receivable, net |
57,742 |
59,931 |
|
Accounts receivable, net |
|
|
|
Accounts receivable |
366,066 |
616,392 |
|
Allowance for uncollectible accounts, accounts,
installment, and lease payments receivable |
6,549 |
6,912 |
|
Accounts receivable, net |
359,517 |
609,480 |
|
Other receivables |
|
|
|
Tax refund receivable |
17,141 |
17,261 |
|
Other non-operating receivables, others |
9,981 |
3,751 |
|
Other receivables, net |
27,122 |
21,012 |
|
Current tax assets |
|
|
|
Income tax refund receivable |
26 |
64 |
|
Total current tax assets |
26 |
64 |
|
Inventories |
|
|
|
Inventories, manufacturing business |
|
|
|
Finished goods |
474,045 |
387,360 |
|
By-products |
7,663 |
6,451 |
|
Work in progress |
46,004 |
60,914 |
|
Raw materials |
260,839 |
223,883 |
|
Supplies |
29,434 |
30,002 |
|
Materials and supplies in transit |
8,855 |
1,143 |
|
Allowance for inventory valuation losses |
112,699 |
102,582 |
|
Inventories, manufacturing business, net |
714,141 |
607,171 |
|
Total inventories |
714,141 |
607,171 |
|
Prepayments |
|
|
|
Total prepayments |
21,317 |
39,280 |
|
Other current assets |
|
|
|
Other current financial assets |
4,475 |
0 |
|
Total other current assets |
4,475 |
0 |
|
Total current assets |
1,467,357 |
1,678,154 |
|
Non-current assets |
|
|
|
Non-current available-for-sale financial assets |
|
|
|
Non-current available-for-sale financial assets |
120,451 |
118,648 |
|
Adjustments for change in value of non-current
available-for-sale financial assets |
-15,805 |
-20,684 |
|
Non-current available-for-sale financial assets,
net |
104,646 |
97,964 |
|
Non-current financial assets at cost |
|
|
|
Non-current financial assets at cost |
379,426 |
379,426 |
|
Accumulated impairment, non-current financial
assets at cost |
116,575 |
89,629 |
|
Non-current financial assets at cost, net |
262,851 |
289,797 |
|
Investments accounted for using equity method |
|
|
|
Investments accounted for using equity method |
332,389 |
336,456 |
|
Investments accounted for using equity method, net |
332,389 |
336,456 |
|
Property, plant and equipment |
|
|
|
Land, net |
|
|
|
Land, cost |
951,104 |
757,631 |
|
Land, revaluation increment (decrement) |
4,186,816 |
4,186,816 |
|
Land, net |
5,137,920 |
4,944,447 |
|
Buildings and structures, net |
|
|
|
Buildings and structures, cost |
801,213 |
789,693 |
|
Accumulated depreciation, buildings and structures |
404,980 |
380,298 |
|
Accumulated impairment, buildings and structures |
22,660 |
22,660 |
|
Buildings and structures, net |
373,573 |
386,735 |
|
Machinery and equipment, net |
|
|
|
Machinery and equipment, cost |
2,945,080 |
2,983,933 |
|
Accumulated depreciation, machinery and equipment |
2,506,502 |
2,501,449 |
|
Accumulated impairment, machinery and equipment |
25,558 |
25,888 |
|
Machinery and equipment, net |
413,020 |
456,596 |
|
Other facilities, net |
|
|
|
Other facilities, cost |
1,271,539 |
1,275,796 |
|
Accumulated depreciation, other facilities |
1,036,510 |
1,019,833 |
|
Accumulated impairment, other facilities |
30,665 |
31,126 |
|
Other facilities, net |
204,364 |
224,837 |
|
Unfinished construction and equipment under
acceptance |
1,067,239 |
268,750 |
|
Total property, plant and equipment |
7,196,116 |
6,281,365 |
|
Investment property, net |
|
|
|
Investment property, net |
284,053 |
284,053 |
|
Deferred tax assets |
11,277 |
10,603 |
|
Other non-current assets |
|
|
|
Prepayments for business facilities |
1,000 |
0 |
|
Guarantee deposits paid |
22,233 |
2,247 |
|
Long-term prepaid rents |
54,920 |
54,386 |
|
Total other non-current assets |
78,153 |
56,633 |
|
Total non-current assets |
8,269,485 |
7,356,871 |
|
Total assets |
9,736,842 |
9,035,025 |
|
Liabilities |
|
|
|
Current liabilities |
|
|
|
Short-term borrowings |
|
|
|
Bank loan |
333,260 |
409,580 |
|
Total short-term borrowings |
333,260 |
409,580 |
|
Notes payable |
|
|
|
Notes payable |
97,119 |
7,953 |
|
Total notes payable |
97,119 |
7,953 |
|
Accounts payable |
|
|
|
Accounts payable |
379,895 |
539,867 |
|
Total accounts payable |
379,895 |
539,867 |
|
Other payables |
|
|
|
Total other payables |
272,196 |
177,820 |
|
Other payables to related parties |
1,977 |
1,864 |
|
Current tax liabilities |
30 |
55 |
|
Current provisions |
|
|
|
Total current provisions |
392 |
0 |
|
Other current liabilities |
|
|
|
Advance receipts |
|
|
|
Advance sales receipts |
4,473 |
11,732 |
|
Total advance receipts |
4,473 |
11,732 |
|
Long-term liabilities, current portion |
|
|
|
Total long-term liabilities, current portion |
0 |
40,000 |
|
Temporary credits |
14,210 |
329 |
|
Receipts under custody |
540 |
257 |
|
Total other current liabilities |
19,223 |
52,318 |
|
Total current liabilities |
1,104,092 |
1,189,457 |
|
Non-current liabilities |
|
|
|
Long-term borrowings |
|
|
|
Long-term bank loans |
1,850,000 |
890,000 |
|
Total long-term borrowings |
1,850,000 |
890,000 |
|
Non-current provisions |
|
|
|
Non-current provisions for employee benefits |
7,625 |
7,980 |
|
Total non-current provisions |
7,625 |
7,980 |
|
Deferred tax liabilities |
|
|
|
Total deferred tax liabilities |
1,356,115 |
1,351,974 |
|
Other non-current liabilities |
|
|
|
Accrued pension liabilities |
460,650 |
503,753 |
|
Guarantee deposits received |
1,801 |
1,561 |
|
Total other non-current liabilities |
462,451 |
505,314 |
|
Total non-current liabilities |
3,676,191 |
2,755,268 |
|
Total liabilities |
4,780,283 |
3,944,725 |
|
Equity |
|
|
|
Equity attributable to owners of parent |
|
|
|
Share capital |
|
|
|
Ordinary share |
2,272,283 |
2,272,283 |
|
Total capital stock |
2,272,283 |
2,272,283 |
|
Capital surplus |
|
|
|
Capital surplus, treasury share transactions |
7,112 |
7,112 |
|
Capital surplus, others |
680 |
680 |
|
Total capital surplus |
7,792 |
7,792 |
|
Retained earnings |
|
|
|
Unappropriated retained earnings (accumulated
deficit) |
|
|
|
Total unappropriated retained earnings
(accumulated deficit) |
2,705,680 |
2,860,086 |
|
Total retained earnings |
2,705,680 |
2,860,086 |
|
Other equity interest |
|
|
|
Total other equity interest |
6,993 |
-13,672 |
|
Treasury shares |
36,189 |
36,189 |
|
Total equity attributable to owners of parent |
4,956,559 |
5,090,300 |
|
Equity attributable to former owner of business
combination under common control |
0 |
0 |
|
Non-controlling interests |
0 |
0 |
|
Total equity |
4,956,559 |
5,090,300 |
|
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 |
6,542,716 |
6,542,716 |
Unit: NTD/000
|
Consolidated |
2014 |
2013 (Restated) |
|
Operating revenue |
|
|
|
Net sales revenue |
|
|
|
Sales revenue |
|
|
|
Sales revenue |
5,393,620 |
5,910,632 |
|
Total sales revenue |
5,393,620 |
5,910,632 |
|
Sales returns |
6,464 |
1,905 |
|
Sales discounts and allowances |
21,223 |
18,970 |
|
Net sales revenue |
5,365,933 |
5,889,757 |
|
Total operating revenue |
5,365,933 |
5,889,757 |
|
Operating costs |
|
|
|
Cost of sales |
|
|
|
Cost of sales |
5,159,262 |
5,517,526 |
|
Total cost of sales |
5,159,262 |
5,517,526 |
|
Total operating costs |
5,159,262 |
5,517,526 |
|
Gross profit (loss) from operations |
206,671 |
372,231 |
|
Gross profit (loss) from operations |
206,671 |
372,231 |
|
Operating expenses |
|
|
|
Selling expenses |
|
|
|
Total selling expenses |
227,445 |
245,197 |
|
Administrative expenses |
|
|
|
Total administrative expenses |
143,859 |
137,089 |
|
Research and development expenses |
|
|
|
Total research and development expenses |
9,936 |
9,206 |
|
Total operating expenses |
381,240 |
391,492 |
|
Net operating income (loss) |
-174,569 |
-19,261 |
|
Non-operating income and expenses |
|
|
|
Other income |
|
|
|
Total other income |
9,273 |
5,829 |
|
Other gains and losses |
|
|
|
Other gains and losses, net |
7,878 |
31,738 |
|
Finance costs |
|
|
|
Interest expense |
17,981 |
17,142 |
|
Finance costs, net |
17,981 |
17,142 |
|
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 |
30,617 |
38,847 |
|
Total non-operating income and expenses |
29,787 |
59,272 |
|
Profit (loss) from continuing operations before
tax |
-144,782 |
40,011 |
|
Tax expense (income) |
|
|
|
Current tax expense (income) |
243 |
26,802 |
|
Total tax expense (income) |
243 |
26,802 |
|
Profit (loss) from continuing operations |
-145,025 |
13,209 |
|
Profit (loss) |
-145,025 |
13,209 |
|
Other comprehensive income |
|
|
|
Exchange differences on translation |
19,019 |
32,694 |
|
Unrealised gains (losses) on valuation of available-for-sale
financial assets |
4,879 |
19,993 |
|
Actuarial gains (losses) on defined benefit plans |
-9,381 |
8,555 |
|
Income tax related to components of other
comprehensive income |
3,233 |
5,558 |
|
Other comprehensive income, net |
11,284 |
55,684 |
|
Total comprehensive income |
-133,741 |
68,893 |
|
Profit (loss), attributable to: |
|
|
|
Profit (loss), attributable to owners of parent |
-145,025 |
13,209 |
|
Comprehensive income attributable to: |
|
|
|
Comprehensive income, attributable to owners of
parent |
-133,741 |
68,893 |
|
Basic earnings per share |
|
|
|
Total basic earnings per share |
-0.66 |
0.06 |
Unit: NTD/000
|
Consolidated |
2014 |
2013 (Restated) |
|
Cash flows from (used in) operating activities,
indirect method |
|
|
|
Profit (loss) from continuing operations before
tax |
-144,782 |
40,011 |
|
Profit (loss) before tax |
-144,782 |
40,011 |
|
Adjustments |
|
|
|
Adjustments to reconcile profit (loss) |
|
|
|
Depreciation expense |
147,747 |
147,447 |
|
Amortization expense |
1,364 |
1,377 |
|
Provision (reversal of provision) for bad debt
expense |
-582 |
-5,747 |
|
Interest expense |
17,981 |
17,142 |
|
Interest income |
-1,143 |
-1,227 |
|
Dividend income |
-7,203 |
-3,951 |
|
Share of loss (profit) of associates and joint
ventures accounted for using equity method |
-30,617 |
-38,847 |
|
Loss (gain) on disposal of property, plan and
equipment |
-813 |
9,461 |
|
Property, plan and equipment transferred to
expenses |
3,551 |
0 |
|
Loss (gain) on disposal of other assets |
0 |
-10,060 |
|
Loss (gain) on disposal of non-current assets
classified as held for sale |
0 |
0 |
|
Loss (gain) on disposal of investments |
-11 |
-411 |
|
Impairment loss on financial assets |
26,946 |
8,003 |
|
Total adjustments to reconcile profit (loss) |
157,220 |
123,187 |
|
Changes in operating assets and liabilities |
|
|
|
Changes in operating assets |
|
|
|
Decrease (increase) in financial assets held for
trading |
-663 |
-138 |
|
Decrease (increase) in notes receivable |
2,189 |
8,575 |
|
Decrease (increase) in accounts receivable |
250,326 |
-87,873 |
|
Decrease (increase) in other receivable |
-6,110 |
-4,351 |
|
Decrease (increase) in inventories |
-106,970 |
16,362 |
|
Decrease (increase) in prepayments |
-323 |
-15,121 |
|
Decrease (increase) in other current assets |
-20,572 |
-24,160 |
|
Total changes in operating assets |
117,877 |
-106,706 |
|
Changes in operating liabilities |
|
|
|
Increase (decrease) in financial liabilities held
for trading |
0 |
-1,333 |
|
Increase (decrease) in notes payable |
89,166 |
-1,679 |
|
Increase (decrease) in accounts payable |
-159,972 |
105,991 |
|
Increase (decrease) in other payable |
-25,476 |
43,851 |
|
Increase (decrease) in other payable to related
parties |
113 |
-236 |
|
Increase (decrease) in provisions |
37 |
-401 |
|
Increase (decrease) in other current liabilities |
10,138 |
-8,448 |
|
Increase (decrease) in accrued pension liabilities |
-52,484 |
-19,255 |
|
Total changes in operating liabilities |
-138,478 |
118,490 |
|
Total changes in operating assets and liabilities |
-20,601 |
11,784 |
|
Total adjustments |
136,619 |
134,971 |
|
Cash inflow (outflow) generated from operations |
-8,163 |
174,982 |
|
Interest received |
1,143 |
1,227 |
|
Dividends received |
41,887 |
61,081 |
|
Interest paid |
-17,181 |
-17,527 |
|
Income taxes refund (paid) |
4 |
10 |
|
Net cash flows from (used in) operating activities |
17,690 |
219,773 |
|
Cash flows from (used in) investing activities |
|
|
|
Acquisition of available-for-sale financial assets |
-1,792 |
0 |
|
Proceeds from disposal of available-for-sale financial
assets |
0 |
4,096 |
|
Acquisition of property, plant and equipment |
-910,728 |
-217,759 |
|
Proceeds from disposal of property, plant and
equipment |
928 |
0 |
|
Increase in refundable deposits |
-19,746 |
-1,935 |
|
Acquisition of investment properties |
0 |
-16,260 |
|
Decrease in other non-current assets |
0 |
16,678 |
|
Increase in prepayments for business facilities |
-1,000 |
0 |
|
Decrease in prepayments for business facilities |
0 |
349 |
|
Net cash flows from (used in) investing activities |
-932,338 |
-214,831 |
|
Cash flows from (used in) financing activities |
|
|
|
Increase in short-term loans |
0 |
-100,000 |
|
Decrease in short-term loans |
-80,000 |
0 |
|
Proceeds from long-term debt |
960,000 |
200,000 |
|
Repayments of long-term debt |
-40,000 |
-20,000 |
|
Net cash flows from (used in) financing activities |
840,000 |
80,000 |
|
Effect of exchange rate changes on cash and cash
equivalents |
15,786 |
27,136 |
|
Net increase (decrease) in cash and cash
equivalents |
-58,862 |
112,078 |
|
Cash and cash equivalents at beginning of period |
321,053 |
208,975 |
|
Cash and cash equivalents at end of period |
262,191 |
321,053 |
|
Cash and cash equivalents reported in the statement
of financial position |
262,191 |
321,053 |
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 cannot obtain the relevant information, either.
Mortgage
|
Case Type: |
Chattel Mortgage |
|
Certificate No.: |
022703 |
|
Debtor Name: |
Ocean Plastics Co., Ltd. |
|
Document Number: |
030349 |
|
Date of Registration: |
1985-2-12 |
|
Date of Alteration: |
1985-2-12 |
|
Status: |
Lawsuit
|
2007,Beibaoxianjian, 24 |
|
|
Date of Trial: |
2007-11-30 |
|
Reason: |
|
Name |
Ms. Li |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.11 |
|
UK Pound |
1 |
Rs.99.50 |
|
Euro |
1 |
Rs.74.24 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
VNT |
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.