|
Report No. : |
347964 |
|
Report Date : |
31.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
CHI MEI CORPORATION |
|
|
|
|
Registered Office : |
No.59-1 San Chia, Jen Te , |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
11.01.1960 |
|
|
|
|
Com. Reg. No.: |
68387705 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and sale of chemicals |
|
|
|
|
No. of Employee : |
2,200 |
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 |
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, and following the landmark Economic Cooperation Framework Agreement (ECFA) signed with China in June 2010, Taiwan in July 2013 signed a free trade deal with New Zealand—Taipei’s first-ever with a country with which it does not maintain diplomatic relations—and in November inked a trade pact with Singapore. However, negotiations on follow-on components of ECFA, including an agreement on trade in services, deals on trade in goods, and dispute resolution—have stalled. In early 2014, the government bowed to public demand for a new law governing the oversight of cross-Strait agreements, before any additional deals with China are implemented; the legislature has yet to vote on such legislation, leaving the future of ECFA up in the air as President MA enters his final full year in office. MA has portrayed ECFA as Taiwan’s key to greater participation in East Asia’s free trade networks. Taiwan's Total Fertility rate of just 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 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 fourth largest, behind those of China, Japan, and Russia. In 2006 China overtook the US to become Taiwan's second-largest source of imports after Japan. China is also the island's number one destination for foreign direct investment. Taiwan since 2009 has gradually loosened rules governing Chinese investment on the island, and has also secured greater market access for its investors in the mainland. In August 2012, the Taiwan Central Bank signed a memorandum of understanding on cross-Strait currency settlement with its Chinese counterpart. The MOU allows for the direct settlement of Chinese RMB and the New Taiwan dollar across the Strait, which has helped Taiwan develop into a local RMB hub. Closer economic links with the mainland bring greater opportunities for the Taiwan economy, but also pose new challenges as the island becomes more economically dependent on China at a time when political differences remain unresolved. During 2014, the press paid increasing attention to domestic economic issues while pushing aside the debates over trade liberalization that were a hallmark of MA’s tenure. The media focused on the divide between Taiwan’s “haves” and “have nots,” providing extensive coverage of public frustration with stagnant wages, skyrocketing housing prices, and the difficulty of finding entry-level jobs.
|
Source
: CIA |
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
|
|
Supplied Address: |
|
|
Telephone Number: |
|
|
Fax Number: |
|
|
E-mail: |
|
|
Website: |
Notes: The exact name and address are as above.
|
Registered Name: |
CHI MEI CORPORATION |
|
Registered Address: |
No.59-1 San Chia, Jen
Te ,Tainan City 71702, Taiwan, R.O.C. |
|
Date of Foundation: |
1960-1-11 |
|
Registration Number: |
68387705 |
|
Registry: |
Department of Commerce,
Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 19,600,000,000 (USD 642,880,000) (As of 2015.4, 1 NTD =
0.0328 USD) |
|
Paid-up Capital: |
NTD 16,979,654,810 (USD
556,932,678) |
|
Legal Representatives: |
Chunhua Xu |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
About 2,200 Employees |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2015-3-30 |
Subject was incorporated on 1960-1-11 with
registered number 68387705 as Joint Stock Company in Taiwan.
Subject
was public offer without listing on 1983-1-7 with Stock Symbol 1763.
Factories
|
1 |
|
|
Address: |
Bldg A, No.59-1 and No. 59-4, San Chia, Jen Te
Dist,, Tainan City 71702, Taiwan, R.O.C. |
|
Date of Foundation: |
1978-12-26 |
|
Date of Registration: |
1983-3-17 |
|
Factory Registration
Number: |
99656523 |
|
Factory Manager: |
Lingyu Zhao |
|
Status: |
In Production |
|
Date of Last Annual
Return: |
2014-7-14 |
|
Major Products: |
184 Synthetic resin, plastic and rubber 199 Other chemical products 220 Plastic products 269 Other electronic components |
|
2 |
|
|
Name: |
Xumei Factory |
|
Address: |
No. 36, Kaifa 4th Road, Bao-An Li, Jen
Te Dist., Tainan City 71702, Taiwan, R.O.C. |
|
Date of Foundation: |
2001-2-14 |
|
Date of Registration: |
2002-4-18 |
|
Factory Registration
Number: |
99658627 |
|
Factory Manager: |
Lingyu Zhao |
|
Status: |
In Production |
|
Date of Last Annual
Return: |
2014-6-5 |
|
Major Products: |
181 Basic chemical material 184 Synthetic resin, plastic and rubber |
|
3 |
|
|
Name: |
Shugu Factory |
|
Address: |
No.18, Wangjia Road, Fenghua Li, Xinshi District,
Tainan City, Taiwan, R.O.C. |
|
Date of Registration: |
2008-3-18 |
|
Factory Registration
Number: |
99711405 |
|
Factory Manager: |
Peihua Sheng |
|
Status: |
In Production |
|
Date of Last Annual
Return: |
2014-4-7 |
|
Major Products: |
264 Photoelectric material and component |
Major Related Companies
|
1 |
|
|
Name: |
Zhenjiang Chi Mei Co., Ltd (Literal Translated) |
|
Address: |
No.2., Hanqiao Road, Dagang Development Area, Zhenjiang
City, Jiangsu Province, China |
|
Tel: |
+86-511-83121300 |
|
Fax: |
+86-511-83121033 |
|
2 |
|
|
Name: |
Chi Mei Innolux Corporation |
|
Address: |
No.160 Science Road, Hsinchu Science and Industry
Park, Zhunan Township, Miaoli County, Taiwan |
|
Tel: |
+886-3-758-6000 |
|
Listed at Stock Exchange: |
Yes; Stock Code: 3481 |
|
3 |
|
|
Name: |
Chi Lin Technology Co., Ltd. |
|
Address: |
No., 18, Shengli 1st St., Rende Dist., Tainan
City, 71758, Taiwan (R.O.C.) |
|
Tel: |
+886-6-279-1188 |
|
Fax: |
+886-6-279-1685 |
|
4 |
|
|
Name: |
Chimei Materials Technology Corp. |
|
Address: |
No.13, Muzhagang W. Rd., Shanhua Dist., Tainan
City 741, Taiwan (R.O.C.) |
|
Tel: |
+886-6-588-9988 |
|
Listed at Stock Exchange: |
Yes; Stock Symbol: 4960 |
|
5 |
|
|
Name: |
Nexgen Mediatech Inc |
|
Address: |
11F, No. 186, Jianyi Rd., Chung Ho City, Taipei
Hsien, Taiwan, R.O.C. |
|
Tel: |
+886-2-8227-1133 |
|
Fax: |
+886-2-82271498 |
|
6 |
|
|
Name: |
GIO Optoelectronics Corp. |
|
Address: |
No.5 Titang Gang Road, Fenghua Li, Xinshi
District, Tainan City, Taiwan |
|
Tel: |
+886-6-588-9999 |
|
Fax: |
+886-6-509-1188 |
|
Listed at Stock Exchange: |
Yes; Stock Symbol: 3610 |
|
7 |
|
|
Name: |
Chi Mei Visual Technology Corporation |
|
Address: |
No.13, Muzhagang W. Rd., Shanhua Dist., Tainan
City 741, Taiwan (R.O.C.) |
|
Tel: |
+886-6-588-9988 |
|
Fax: |
+886-6-5091005 |
|
8 |
|
|
Name: |
Chimei Lighting Technology Corp. |
|
Address: |
No.3, Titanggang Rd., Xinshi Dist., Tainan City, Taiwan;
Tainan, Taiwan |
|
Tel: |
+886-6-588-9968 |
|
Fax: |
+886-6-509-1268 |
|
9 |
|
|
Name: |
Chi Mei Trading Co., Ltd. |
|
Address: |
7F, No. 9, Ai Kuo West Road, Taipei, Taiwan |
|
Tel: |
+886-2-2349-7388 |
|
Fax: |
+886-2-2314-9419 |
|
10 |
|
|
Name: |
Chi Mei Logistics Corp. |
|
Address: |
No.5 Kanxi Road, Sinshih Township Tainan County,
Taiwan |
|
Tel: |
+886-6-588-9977 |
|
Fax: |
+886-6-509-1158 |
|
11 |
|
|
Name: |
Chi Mei Frozen Food Co., Ltd. |
|
Address: |
Mo.71 Delun Road, Rende District, Tainan City, Taiwan |
|
Tel: |
+886-7-699-3901 |
|
Fax: |
+886-6-279-1194 |
Major Shareholders
|
Name |
Subscription Shares |
|
Chunhua Xu |
1,398,277 |
|
Taiqi Investment Co., Ltd. (Literal
Translation) |
267,854,423 |
|
Lingyu Zhao |
13,227,142 |
|
Rongjun Lin |
336,656 |
|
Guangfu Song |
1,651,063 |
|
Qingsheng Lin |
904,645 |
|
Jiazhang Xu |
57,096,282 |
|
Mitsubishi Chemical Corporation |
72,594,635 |
|
Zhaoyang He |
1,994,019 |
|
Yueli Investment Co., Ltd. (Literal
Translation) |
21,643,807 |
Shareholder
Information:
|
1 |
|
|
Registered Name: |
Taiqi Investment Co.,
Ltd. (Literal Translation) |
|
Registered Address: |
No.392, Sec 1, Jinhua Road,
South District, Tainan City, Taiwan, R.O.C. |
|
Date of Foundation: |
2001-2-22 |
|
Registration Number: |
70802398 |
|
Registry: |
Department of Commerce,
Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 3,000,000,000 (USD
98,400,000) (As of 2015.4, 1 NTD =
0.0328 USD) |
|
Paid-up Capital: |
NTD 3,000,000,000 (USD
98,400,000) |
|
Legal Representatives: |
Guangfu Song |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual
Return: |
2014-6-6 |
|
2 |
|
|
Registered Name: |
Yueli Investment Co.,
Ltd. (Literal Translation) |
|
Registered Address: |
1/F, No.1-1, Lane 35,
Yonghua 6th Street, Anping District, Tainan City, Taiwan, R.O.C. |
|
Date of Foundation: |
2001-2-20 |
|
Registration Number: |
12751511 |
|
Registry: |
Tainan City Government |
|
Registered Capital: |
NTD 234,379,740 (USD
7,687,655) (As of 2015.4, 1 NTD =
0.0328 USD) |
|
Paid-up Capital: |
NTD 91,560,760
(USD 3,003,193) |
|
Legal Representatives: |
Yongchun Wu |
|
Legal Form: |
Joint Stock Company |
|
Date of Last Annual
Return: |
2014-1-20 |
Core Management
Directors
|
1 |
|
|
Name |
Chunhua Xu |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Wenlong Xu |
|
Position |
Director |
|
3 |
|
|
Name |
Jinxiang Liao |
|
Position |
Director |
|
4 |
|
|
Name |
Lingyu Zhao |
|
Position |
Director |
|
5 |
|
|
Name |
Rongjun Lin |
|
Position |
Director |
|
6 |
|
|
Name |
Guangfu Song |
|
Position |
Director |
|
7 |
|
|
Name |
Qingsheng Lin |
|
Position |
Director |
|
8 |
|
|
Name |
Jucheng Lv |
|
Position |
Director |
|
9 |
|
|
Name |
Jiazhang Xu |
|
Position |
Director |
|
10 |
|
|
Name |
Zhiren Yue |
|
Position |
Director |
|
11 |
|
|
Name |
Zhaoyang He |
|
Position |
Supervisor |
|
12 |
|
|
Name |
Yongchun Wu |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
About 2,200
Employees |
Offices & Factories
|
|
Headquarters |
|
Add |
Production Information
l
Subject is engaged in manufacturing of chemicals
products, such as synthetic resin.
l
Subject obtained the certifications of ISO 9001:
2000, ISO 14001 and ISO 18001.
l
Subject has factories in Taiwan and Zhenjiang City,
Jiangsu Province, Mainland China for production and the annual production
capacities are as follows for reference:
|
Product |
Annual Production Capacity |
|
ABS Resin |
1,950,000 tons |
|
PS Resin |
150,000 tons |
|
TPE |
50,000 tons |
|
PSP Resin |
120,000 tons |
|
PMMA |
380,000 tons |
Purchase Information
l
The registered activities of subject:
|
Business Code |
Details |
|
C801010 |
Basic chemical industry |
|
C801020 |
Manufacturing industry for petrochemical
and chemical raw materials |
|
C801060 |
Synthetic rubber manufacturing industry |
|
C801100 |
Synthetic resin and plastic manufacturing
industry |
|
C802990 |
Other chemical products manufacturing
industry |
|
C901070 |
Stone product manufacturing industry |
|
CC01990 |
Other electric motor and electronic
machinery manufacturing industry |
|
F105050 |
Wholesales of furniture, bedclothing,
kitchen appliance and decoration |
|
F107990 |
Wholesales of other chemical products |
|
F199990 |
Other wholesales industry |
|
F205040 |
Retails of furniture, bedclothing, kitchen
appliance and decoration |
|
F207990 |
Retails of other chemical products |
|
F299990 |
Other retails |
|
G801010 |
Storage industry |
|
H701020 |
Rent and sale of industrial warehouse |
|
H701040 |
Developing of special industrial area |
|
H701060 |
Developing of new town and subdistrict |
|
J101040 |
Waste management industry |
|
J101050 |
Environment measuring service industry |
|
J101060 |
Waste water disposal |
|
CC01080 |
Electric components manufacturing industry |
|
C801990 |
Other chemical material manufacturing
industry |
|
C805010 |
Plastic sheath, pipes manufacturing
industry |
|
C805050 |
Industrial plastic product manufacturing
industry |
|
C805990 |
Other plastic product manufacturing
industry |
|
C802090 |
Cleaning supplies manufacturing industry |
|
C802100 |
Cosmetics manufacturing industry |
|
ZZ99999 |
Besides licensed business, all other
business items those are not banned or restricted |
l
The raw materials for production are purchased from
both home and abroad.
l
It is introduced that some facilities for
production are purchased from Japan and Europe.
l
Subject imports technology from Japan.
l
Subject is engaged in sales of chemical products,
such as synthetic resin.
l
The major products sold by subject include ABS
resin, SAN resin, PS resin, acrylic resin, PC resin, PC/ABS resin, TPE, Q
resin, electronic chemical, optical pmma sheet, MS resin, and ASA resin.
l
Subject’s sales regions include Asia, America, and
Europe.
l
Subject’s major types of customers include
houseware manufacturer, packaging manufacturer, communication & electronics
manufacturer, and garment manufacturer.
l
Subject’s major customers are Polimeros Tecnicos
S.A., Vidyut Metallics Pvt. Ltd, Foreway Enterprises Ltd.
Import
and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Purchase
1.
Domestic Purchase
|
Products |
Raw materials |
|
Payment Terms |
T/T, Cash |
2.
Import
|
Products |
Raw materials |
|
Payment Terms |
L/C, T/T |
1.
Domestic Markets
|
Product |
Industrial
chemicals |
|
Selling Terms |
T/T, Cash |
2.
Export
|
Product |
Industrial
chemicals |
|
Selling Terms |
L/C, T/T |
Unit: NTD/000
|
|
2014-12-31 |
2013-12-31 |
|
Assets |
|
|
|
Current assets |
|
|
|
Cash and cash equivalents |
2,058,377.00 |
645,464.00 |
|
Financial liabilities at fair value
through profit or loss-current |
0 |
50,000.00 |
|
Available-for-sale financial assets -
current |
8,792,315.00 |
123,268.00 |
|
160,137.00 |
0 |
|
|
Notes receivable, net |
31,226.00 |
73,566.00 |
|
Accounts receivable, net |
3,144,088.00 |
3,197,109.00 |
|
Accounts receivable - related parties -
net |
1,141,891.00 |
1,379,450.00 |
|
Other receivables |
346,628.00 |
88,014.00 |
|
Inventories |
11,706,175.00 |
11,622,447.00 |
|
Other current
assets |
1,648,733.00 |
1,620,173.00 |
|
Current assets |
29,029,570.00 |
18,799,491.00 |
|
Funds and
investments |
|
|
|
Non-current
available-for-sale financial assets |
0 |
6,480,051.00 |
|
With the cost
measure net illiquid financial assets |
1,143,200.00 |
1,143,200.00 |
|
Equity Method
Long Term Stock Equity Investment |
22,224,107.00 |
22,160,373.00 |
|
Investments |
22,224,107.00 |
22,160,373.00 |
|
Other financial assets-non-current |
91,927.00 |
79,112.00 |
|
Funds and
investments |
23,459,234.00 |
29,862,736.00 |
|
Fixed assets |
|
|
|
Cost |
|
|
|
Land |
7,995,269.00 |
7,998,073.00 |
|
Buildings and structures |
6,828,439.00 |
6,171,413.00 |
|
Machinery and equipment |
38,708,976.00 |
36,853,354.00 |
|
Other facilities |
2,035,922.00 |
1,835,478.00 |
|
Revaluation
increment |
89,525.00 |
89,525.00 |
|
Cost and
revaluation increment |
55,658,131.00 |
52,947,843.00 |
|
Accumulated
depreciation |
-34,694,796.00 |
-32,552,402.00 |
|
Accumulated depreciation- Fixed assets |
-957,005.00 |
-556,956.00 |
|
Construction in process and prepayment for
equipment |
1,389,804.00 |
2,841,200.00 |
|
Fixed assets |
21,396,134.00 |
22,679,685.00 |
|
Intangible Assets |
|
|
|
Deferred pension cost |
7,348.00 |
14,697.00 |
|
Other intangible assets |
103,968.00 |
139,587.00 |
|
Intangible assets |
111,316.00 |
154,284.00 |
|
Other assets |
|
|
|
Rent assets |
1,084,835.00 |
1,101,564.00 |
|
Idle assets |
1,586,890.00 |
1,620,663.00 |
|
Other assets-other |
1,661,266.00 |
1,765,981.00 |
|
Other assets |
4,332,991.00 |
4,488,208.00 |
|
Assets |
78,329,245.00 |
75,984,404.00 |
|
Liabilities and shareholders' equity |
|
|
|
Liabilities |
|
|
|
Current Liabilities |
|
|
|
Short-term borrowing |
1,586,000.00 |
498,492.00 |
|
Short-term notes and bills payable |
0 |
3,880,000.00 |
|
Account payable |
4,617,940.00 |
5,047,649.00 |
|
Accounts payable–related parties |
48,873.00 |
61,481.00 |
|
Income tax payable |
0 |
41,798.00 |
|
Other payables |
1,962,450.00 |
1,984,538.00 |
|
One year or one operating cycle due to
long-term liabilities |
3,186,000.00 |
0 |
|
Other current liabilities |
590,119.00 |
598,599.00 |
|
Current liabilities |
11,991,382.00 |
12,112,557.00 |
|
Long-term liabilities |
|
|
|
Derivative financial Liabilities for
hedging – non current |
0 |
24,744.00 |
|
Long-term borrowings |
15,835,000.00 |
18,177,500.00 |
|
Long-term liabilities |
15,835,000.00 |
18,202,244.00 |
|
|
|
|
|
Reserve for land revaluation increment tax |
2,320.00 |
2,320.00 |
|
Total preparatory Funds |
2,320.00 |
2,320.00 |
|
Other Liabilities |
|
|
|
Pension reserve / accrued pension
liability |
634,869.00 |
652,096.00 |
|
Deferred income taxes |
526,584.00 |
587,561.00 |
|
Other liabilities - other |
49,986.00 |
108,573.00 |
|
Other liabilities |
1,211,439.00 |
1,348,230.00 |
|
Liabilities |
29,040,141.00 |
31,665,351.00 |
|
Stockholders' Equity |
|
|
|
Capital |
|
|
|
Common stock |
17,049,693.00 |
17,076,760.00 |
|
Capital Surplus |
|
|
|
Capital surplus - long-term equity
investments |
128,508.00 |
146,094.00 |
|
Capital surplus |
128,508.00 |
146,094.00 |
|
Retained Earnings |
|
|
|
Legal reserve |
10,055,690.00 |
10,055,690.00 |
|
Special reserve |
6,963,585.00 |
9,030,638.00 |
|
Unappropriated retained earnings |
19,160,281.00 |
15,044,128.00 |
|
Retained earnings |
36,179,556.00 |
34,130,456.00 |
|
Stockholders' Equity and Other adjustment |
|
|
|
Cumulative translation adjustments |
1,226,651.00 |
765,936.00 |
|
Net loss not recognized as pension cost |
-326,287.00 |
-359,209.00 |
|
Unrealized gains (losses) on financial instruments |
-4,629,505.00 |
-6,963,585.00 |
|
Unrealized Revaluation Increment |
108,148.00 |
108,148.00 |
|
Treasury stock |
-447,660.00 |
-585,547.00 |
|
Stockholders other equity adjustments |
-4,068,653.00 |
-7,034,257.00 |
|
Stockholders-equity |
49,289,104.00 |
44,319,053.00 |
|
Number of
treasury stock acquired by the company and subsidiaries (unit: share) |
14,307,000.00 |
18,507,000.00 |
|
Equivalent shares of outstandings of
advance receipts for common stock (unit: share) |
0 |
0 |
Unit:
NTD/000
Unit: NTD/000
|
|
2014 |
2013 |
|
Cash Flows from Operating Activities -
Indirect Method |
|
|
|
Net Income (Loss) |
3,795,209 |
-3,957,468 |
|
Adjustment item |
|
|
|
Depreciation
expense |
2,887,693 |
1,980,739 |
|
Amortization
expense |
581,971 |
489,658 |
|
Provision (Reversal of Provision) for Bad
Debts Losses |
0 |
-225 |
|
Allowance for sales returns and allowances |
60,493 |
25,842 |
|
Loss (Gain) on Decline (Recovery) in Market
Value, Scrap and Obsolescence of Inventories |
143,243 |
124,869 |
|
Investment Loss (Income) Recognized under
Equity Method |
-1,389,822 |
697,306 |
|
Received the equity method of invested
company cash dividends |
404,460 |
559,068 |
|
Loss (Gain) on Disposal of Fix Assets |
40,744 |
12,995 |
|
Provision for Fix Assets |
9,606 |
3,074 |
|
Loss (Gain) on Disposal of Investments |
-99,086 |
5,335,276 |
|
Loss (Gain) on Disposal of Long-Term
Equity Investments under Equity Method |
-742,588 |
61,575 |
|
Changes in Operating Assets and
Liabilities |
401,974 |
0 |
|
Changes in Operating Assets and
Liabilities |
|
|
|
Decrease (Increase) in Financial Assets
Held for Trading |
50,000 |
-50,000 |
|
Decrease (Increase) in Notes Receivable |
42,340 |
-12,633 |
|
Decrease (Increase) in Accounts Receivable |
230,087 |
338,066 |
|
Decrease (Increase) in Other Receivable |
-258,614 |
-39,162 |
|
Decrease (Increase) in Inventories |
-226,971 |
-696,148 |
|
Decrease (Increase) in Other Current
Assets |
-5,883 |
-739,305 |
|
Decrease (Increase) in Deferred Income Tax
assets |
-158,650 |
4,576 |
|
Increase (Decrease) in Account Payable |
-442,317 |
256,028 |
|
Increase (Decrease) in income tax payable |
-41,798 |
18,564 |
|
Increase (Decrease) in other accounts
payable |
214,374 |
228,080 |
|
Increase (Decrease) in Other Current
Liabilities |
-8,480 |
-535,469 |
|
Increase (Decrease) in Accrued Pension
Liabilities |
23,044 |
34,557 |
|
Net Cash Provided by (Used in) Operating Activities |
5,511,029 |
4,139,863 |
|
Cash Flows from Investing Activities |
|
|
|
Acquisition of Financial liabilities at
fair value through profit or loss |
0 |
408,347 |
|
Proceeds from Sale of Available-for-sale
Financial Assets |
-536,239 |
0 |
|
Proceeds from sale of Available-for-sale
financial assets |
764,530 |
5,076,168 |
|
Acquisition of Financial Assets At Cost |
0 |
-333,338 |
|
Disposal of Financial Assets at Cost-non
Current |
0 |
35,652 |
|
Increased in Long-Term Equity Investments Under Equity Method |
-142,153 |
-141,683 |
|
Disposal of Long-Term Equity Investments
Under Equity Method |
2,325,492 |
657,947 |
|
Proceeds from Capital Reduction
of Long-term investments accounted for by equity method |
0 |
1,356,363 |
|
Purchase of Property, Plant and Equipment |
-2,809,213 |
-5,539,444 |
|
Proceeds from Disposal of Property, Plant
and Equipment |
38,555 |
61,816 |
|
Proceeds from Disposal of Leasing and Idle
Assets |
317,736 |
10,067 |
|
Purchase of intangible assets |
-8,083 |
-3,835 |
|
Produce the cash inflow of merger |
0 |
808 |
|
Increase (Decrease) in other financial
assets |
-12,815 |
4,074 |
|
Increase (Decrease) in other assets |
-223,058 |
-263,148 |
|
Net Cash Provided by (Used in) Investing
Activities |
-285,248 |
1,329,794 |
|
Cash Flows from Financing Activities |
|
|
|
Increase (Decrease) in short-term
borrowing |
1,006,008 |
-710,447 |
|
Increase (Decrease) in short-term notes
and bills payable |
-3,880,000 |
-820,000 |
|
Long-term loans borrowing |
5,975,000 |
9,176,000 |
|
Repay long-term loans |
-5,220,000 |
-11,108,550 |
|
Increase (Decrease) in other liabilities |
-58,587 |
-297,753 |
|
Issue cash dividend |
-1,689,332 |
-1,687,874 |
|
Cost of buying treasury stock |
-84,168 |
-55,175 |
|
Employee Purchase Treasury Stock |
138,211 |
285,691 |
|
Net Cash Provided by (Used in) financial
Activities |
-3,812,868 |
-5,218,108 |
|
Net Increase (Decrease) in Cash and Cash
Equivalents |
1,412,913 |
251,549 |
|
Cash and Cash Equivalents, Beginning of
year |
645,464 |
393,915 |
|
Cash and Cash Equivalents, End of year |
2,058,377 |
645,464 |
|
Supplemental Cash Flow Information |
|
|
|
Income Tax Paid |
340,517 |
358,203 |
|
Non capitalized interest-interest paid |
340,517 |
358,203 |
|
Payable income tax |
0 |
416,914 |
|
Non-cash Investing and Financing
Activities |
|
|
|
Due within one year of long-term
liabilities |
3,186,000 |
0 |
|
Fix assets Transferred to Idle Assets |
322,855 |
23,814 |
|
Fix assets Transferred to Leasing Assets |
24,548 |
19,121 |
|
Fix assets Transferred to Deferred Charges |
185,948 |
484,768 |
|
Financial Assets At Cost Transferred to Financial Assets
Available for Sale |
0 |
277,500 |
|
Long term equity investment transferred to
Available for sale financial assets-current |
0 |
$0 |
|
Investing Activities Affecting Both Cash
and Non-cash Items |
|
|
|
Increase in fix assets |
2,572,751 |
5,636,526 |
|
Increase (Decrease) in payable of
purchasing equipment |
236,462 |
-97,082 |
|
Pay cash on fix assets |
2,809,213 |
5,539,444 |
Note: The above financial figures are based on the
Taiwan generally accepted accounting principle.
Subject declined to disclose its bank details; from
other source we cannot obtain the relevant information, either.
Mortgage
No chattel mortgage
record of subject has been found within the recent 3 months.
Lawsuit
|
Trial Number: |
2009, Bu, 87 |
|
Date of Trial: |
2009-3-11 |
|
Reason: |
Payment of Occupational accident compensation, etc. |
|
Claimant: |
Not Stated |
|
Defendant: |
Chi Mei Corporation, Yijiu Communication Co. Ltd (literal translation)
and so on. |
|
Status: |
-- |
|
Name |
Mr. Li |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.22 |
|
UK Pound |
1 |
Rs.99.93 |
|
Euro |
1 |
Rs.71.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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.