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|
|
MIRA
INFORM REPORT
|
Report No. : |
488706 |
|
Report Date : |
03.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
CHINA STEEL GLOBAL TRADING CORPORATION |
|
|
|
|
Registered Office : |
10F., No. 88, Cheng Gong 2nd Rd., Qian Zhen District,
Kaohsiung City 80661, Taiwan (R.O.C.) |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
02.04.1996 |
|
|
|
|
Com. Reg. No.: |
96975583 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Trading of Steel Products, etc. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
Taiwan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
TAIWAN - ECONOMIC OVERVIEW
Taiwan has a dynamic capitalist economy that is driven largely by
industrial manufacturing, and especially exports of electronics, machinery, and
petrochemicals. This heavy dependence on exports exposes the economy to
fluctuations in global demand. Taiwan's diplomatic isolation, low birth rate,
rapidly aging population, and increasing competition from China and other Asia
Pacific markets are other major long-term challenges.
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 of that year, 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
uncertain. President TSAI since taking office in May 2016 has promoted greater
economic integration with South and Southeast Asia through the New Southbound
Policy initiative and has also expressed interest in Taiwan joining the
Trans-Pacific Partnership as well as bilateral trade deals with partners such
as the US.
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 with many economies, including China and
the US, 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 and has also
secured greater market access for its investors on 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 renminbi (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 opportunities for Taiwan’s
economy but also pose challenges as political differences remain unresolved and
China’s economic growth is slowing. Domestic economic issues loomed large in
public debate ahead of the January 2016 presidential and legislative elections,
including concerns about stagnant wages, high housing prices, youth
unemployment, job security, and financial security in retirement.
|
Source
: CIA |
Contact Points
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
10F., No. 88,
Cheng Gong 2nd Rd., Qian Zhen District, Kaohsiung City 80661, Taiwan (R.O.C.) |
|
Supplied Address: |
|
|
Telephone Number: |
+886-7-332-2168 |
|
Fax Number: |
Notes: The exact name and address are as above.
Company Identification Details
|
Registered Name: |
CHINA STEEL GLOBAL TRADING CORPORATION |
|
Registered Address: |
10F., No. 88, Cheng Gong 2nd Rd., Qian Zhen District,
Kaohsiung City 80661, Taiwan (R.O.C.) |
|
Date of Foundation: |
1996-4-2 |
|
Registration Number: |
96975583 |
|
Registry: |
Department of Commerce,
Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD
2,500,000,000 (USD 78,750,000) (As of 2018.2, 1 NTD = 0.033 USD) |
|
Paid-up Capital: |
NTD 788,298,300 (USD 26,013,844) |
|
Legal Representatives: |
Xinmin Li |
|
Legal Form: |
|
|
Principal Activities: |
|
|
Staff: |
|
|
Listed at Stock Exchange: |
|
|
Date of Last Annual Return: |
Note: Subject declined to disclose the number of
staff, and from other source we cannot obtain the information, either.
History
Subject was incorporated on
1996-4-2 with registered number 96975583 as Joint Stock Company in Taiwan.
Corporate Structure
Parent Company
|
Registered Name: |
China Steel Corporation |
|
Registered Address: |
No.1, Chung Kang Road, Lin Hai Ind. Dist., Hsiao
Kang, Kaohsiung 81233, Taiwan, R.O.C. |
|
Telephone Number: |
+886-7-802-1111 |
|
Fax Number: |
+886-7-802-2511 |
|
Date of Foundation: |
1971-12-3 |
|
Registration Number: |
30414175 |
|
Registry: |
Joint Stock Company |
|
Registered Capital: |
NTD 170,000,000,000 |
|
Paid-up Capital: |
NTD 157,731,289,960 |
|
Legal Representatives: |
Chaodong Weng |
|
Legal Form: |
Joint Stock Company |
|
Principal Activities: |
Manufacturing and sale of various steel products, including plate products,
steel bars, wire rod products, hot rolled products, cold rolled products,
electro galvanizing steel products, hot-dip galvanizing steel products and
electromagnetic steel sheets. |
|
Staff: |
About 9,000 Employees |
|
Listed at Stock Exchange: |
Yes; (Public, TPE:2002) |
|
Date of Last Annual Return: |
2018-1-22 |
Related Companies:
|
CHUNG HONG STEEL Address: 317, Yu Liao Road, Chiao Tou
District, Kaohsiung City 82544, Taiwan, R.O.C. Tel: +886-7-611-7171 (10 lines) Fax: +886-7-611-0594 DRAGON STEEL Address: No.100, Longchang Rd., Longjing
Village, Taichung County, 43401, Taiwan, R.O.C. Tel: +886-4-2630-6088 Fax: +886-4-2630-6066 CSGT (SHANGHAI) CO., LTD. ADD: 21/F., Zhongxin Mansion, No. 1468,
Nanjing West Road, Shanghai, China Fax: +86-21-6289-6678 CSGT HONG KONG LIMITED Address : #1407-19 Des Voeux Road
Central, Central, Hong Kong Tel: +852-25231488 Fax: +852-25234748 CSGT (SINGAPORE) PTE, LTD. #14-01,MAS Building ,10 Shenton Way
Singapore 079117 Tel: +65-62238777~8 Fax: +65-62256054 Email: wesley@csgtsg.com.sg
CSGT METALS VIETNAM JOINT STOCK COMPANY Add: Lot VI – CSGT(SINGAPORE) PTE., LTD. BANGKOK
REPRESENTATIVE OFFICE Add: 1 MD Tower, 7th Floor, Room B, Soi
Bangna-Trat 25, Khwang Bangna, Khet angna, Bangkok 10260, Thailand Tel: +66-2-1864906 Fax: +66-2-1864905 C. S. ALUMINUM CORPORATION Address: No.17 Tung Lin Road, Hsiao Kang,
Kaohsiung, 81260 Taiwan, Republic of China Tel: +886-7-871-8666 CHINA STEEL STRUCTURE CO., LTD. Address: Headquarters: No.1, Chung-Kang
Rd., Hsiao-Kang, Kaohsiung 81207, Taiwan (China Steel Structure Co., Ltd.) Tel: +886-7-802-3433 Fax: +886-7-801-9150 CHINA STEEL EXPRESS CORPORATION Address: 32F, No.8 Ming0Chuan 2nd Road,
Kaohsiung, 806, Taiwan, R.O.C. Tel: +886-7-337-8888 Fax: +886-7-338-1310 CHINA STEEL MACHINERY CORPORATION Address: 3 Tai-Chi Road, Siaogang
District, Kaohsiung, Taiwan Tel: +886-7-802-0111 Fax: +886-7-806-3833 CHINA ECOTEK CORPORATION Address: 8th F, No.8 Ming0Chuan 2nd Road,
Kaohsiung, 806, Taiwan, R.O.C. Tel:+886-7-330-6138 Fax:+886-7-339-4016 CHC RESOURCES CORPORATION Address:10F, No.243, I-Hsin 1st Rd., Chien
Chen, Kaohsiung, 806, Taiwan, R.O.C. Tel:886-7-336-8377 Fax:886-7-336-8433 |
Shareholder
Major Shareholder
|
Name |
Subscription Shares |
|
China Steel Corporation |
|
|
78,827,362 |
Shareholder Information:
|
Registered Name: |
China Steel Corporation |
|
Registered Address: |
No.1, Chung Kang Road, Lin Hai Ind. Dist.,
Hsiao Kang, Kaohsiung 81233, Taiwan, R.O.C. |
Management Information
Core Management
Directors
|
1 |
||
|
Name |
Xinmin Li |
|
|
Position |
Chairman of the Board |
|
|
2 |
||
|
Name |
Chaodong Weng |
|
|
Position |
Director |
|
|
3 |
||
|
Name |
Jigang Liu |
|
|
Position |
Director |
|
|
4 |
||
|
Name |
Jianzhi Huang |
|
|
Position |
Director |
|
|
5 |
||
|
Name |
Yaokang Lin |
|
|
Position |
Director & Manager |
|
|
Date of Appointment for Manager |
2016-12-01 |
|
|
5 |
||
|
Name |
Mingduan Gao |
|
|
Position |
Supervisor |
|
Operation Information
Offices & Factories
|
|
Headquarters |
|
Add |
10F., No. 88,
Cheng Gong 2nd Rd., Qian Zhen District, Kaohsiung City 80661, Taiwan (R.O.C.) |
Production Information
Subject is a trader of steel products, etc. without any production
activities.
It is introduced that subject’s group has factories in Taiwan for
production.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
-- |
Import, export and sales business of steel |
|
-- |
Import, export and sales business of industrial materials (Scrap metal and electronic materials) |
|
-- |
Introducing and trading business of iron and steel industry
manufacturing equipment, instruments and materials |
|
-- |
Agent of steel and aluminum products |
|
-- |
Import and export of stainless steel, aluminum sheet and secondary
processed products, etc. |
|
-- |
Import and export business of mineral products, chemicals and
textiles, etc. |
|
-- |
Storage business |
|
-- |
Offering the counseling advisory business services of introducing
domestic and foreign investment. ( Besides counseling in portfolio
investment) |
|
-- |
The technological cooperation and counseling advisory of above
investment. |
|
-- |
Import, export and sales business of food, miscellaneous goods
(drinks). |
|
-- |
Import, export and sales business of agricultural products, animal
products, aquatic product (fresh fishes). |
|
-- |
Import, export and sales business of house installation (ceramic and
glass container) |
|
-- |
International Trading Business |
|
ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
The products of the subject are mainly purchased from its group
companies in Taiwan.
Subject is engaged in sale of steel
products, etc.
The major products sold by the subject include stainless steel products,
aluminum products, work roll and fire-retardant materials, etc.
Subject’s sales regions include domestic market, Southeast Asia, America
and Europe, etc.
Subject’s major customers are manufacturers of machinery and parts, etc.
The major products of the subject are as follows:
|
Category |
Details |
|
Carbon Steel |
Hot rolled steel Cold rolled steel Hot Dipped Galvanized Steel Hot Rolled Plate Galvanized Steel Sheet Electrical Steel Automobile and Home Applications Material Wire Rod/Rebar |
|
Aluminum |
Aluminum Plates Aluminum Sheets and Coils Aluminum Foil |
|
Stainless Steel |
Hot Rolled Stainless Steel Coil Cold Rolled Stainless Steel Coil Hot Rolled Stainless Steel Plate Cold Rolled Stainless Steel Plate Stainless Steel Wire Rod Stainless Steel Pipe Stainless Steel Processed Products. |
|
Others |
Steel Slabs Pig Iron |
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Settlements
Purchase
Domestic Purchase
|
Products |
Steel products, etc. |
|
Payment Terms |
Interior Settlement, T/T, Cash, etc. |
Import
Subject has little import.
Domestic Markets
|
Product |
Steel products, etc. |
|
Selling Terms |
T/T, Cash, etc. |
Export
|
Product |
Steel products, etc. |
|
Selling Terms |
L/C, T/T, etc. |
Financial Information
Subject has no obligations to disclose its
financial statements to the third party according to the relevant policy in
Taiwan and the only source from which we can obtain the information is the
subject itself.
Subject’s relevant staff declined to disclose its
financials citing the grounds of company’s confidentiality; from other sources
we could not obtain such information, either.
From other source, we found the consolidated financial information of
subject’s parent company as follows for your reference.
Balance Sheet
Unit: NTD/000
|
Consolidated |
2016-12-31 |
2015-12-31 |
|
Assets |
|
|
|
Current assets |
|
|
|
Cash and cash equivalents |
|
|
|
Total cash and cash equivalents |
15,467,768 |
20,334,823 |
|
Current financial assets at fair value through profit or loss |
|
|
|
Total current financial assets at fair value through profit or loss |
3,288,349 |
3,441,885 |
|
Current available-for-sale financial assets |
|
|
|
Current available-for-sale financial assets, net |
2,806,737 |
3,839,902 |
|
Current derivative financial assets for hedging |
36,784 |
123,828 |
|
Notes receivable, net |
|
|
|
Notes receivable, net |
1,233,769 |
1,206,786 |
|
Notes receivable due from related parties, net |
|
|
|
Notes receivable due from related parties, net |
384,078 |
258,005 |
|
Accounts receivable, net |
|
|
|
Accounts receivable, net |
11,463,575 |
10,578,187 |
|
Accounts receivable due from related parties, net |
|
|
|
Accounts receivable due from related parties, net |
499,185 |
448,197 |
|
Construction contracts receivable |
8,472,037 |
8,767,343 |
|
Other receivables |
|
|
|
Other receivables, net |
1,382,410 |
1,453,760 |
|
Current tax assets |
|
|
|
Total current tax assets |
139,482 |
95,004 |
|
Inventories |
|
|
|
Total inventories |
79,489,138 |
68,906,548 |
|
Other current assets |
|
|
|
Other current financial assets |
11,833,708 |
12,191,202 |
|
Other current assets, others |
3,558,170 |
3,496,706 |
|
Total other current assets |
15,391,878 |
15,687,908 |
|
140,055,190 |
135,142,176 |
|
|
Non-current assets |
|
|
|
Non-current available-for-sale financial assets |
|
|
|
Non-current available-for-sale financial assets, net |
26,306,913 |
50,284,593 |
|
Held-to-maturity non-current financial assets |
|
|
|
Non-current held-to-maturity financial assets, net |
222,669 |
285,963 |
|
Derivative non-current financial assets for hedging |
3,354 |
41,713 |
|
Non-current bond investment without active market |
|
|
|
Total Non-current investments in debt instrument without active market |
1,932,814 |
2,014,061 |
|
Investments accounted for using equity method |
|
|
|
Investments accounted for using equity method, net |
49,528,952 |
15,207,682 |
|
Property, plant and equipment |
|
|
|
Total property, plant and equipment |
430,849,587 |
448,688,581 |
|
Investment property, net |
|
|
|
Investment property, net |
10,316,142 |
10,108,189 |
|
Intangible assets |
|
|
|
Total intangible assets |
2,488,714 |
2,404,617 |
|
Deferred tax assets |
5,372,981 |
5,558,156 |
|
Other non-current assets |
|
|
|
Guarantee deposits paid |
566,022 |
479,287 |
|
Other non-current financial assets |
|
|
|
Total other non-current financial assets |
3,393,174 |
2,663,786 |
|
Other non-current assets, others |
|
|
|
Other non-current assets, others |
5,085,281 |
5,260,212 |
|
Total other non-current assets, others |
5,085,281 |
5,260,212 |
|
Total other non-current assets |
9,044,477 |
8,403,285 |
|
536,066,603 |
542,996,840 |
|
|
Total assets |
676,121,793 |
678,139,016 |
|
Liabilities and equity |
|
|
|
Liabilities |
|
|
|
Current liabilities |
|
|
|
Short-term borrowings |
|
|
|
Total short-term borrowings |
35,905,740 |
34,386,947 |
|
Short-term notes and bills payable |
|
|
|
Total short-term notes and bills payable |
16,632,100 |
31,641,286 |
|
Current financial liabilities at fair value through profit or loss |
|
|
|
Total current financial liabilities at fair value through profit or
loss |
4,941 |
1,525 |
|
Current derivative financial liabilities for hedging |
37,609 |
29,428 |
|
Notes payable |
|
|
|
Total notes payable |
851,631 |
555,486 |
|
Accounts payable |
|
|
|
Total accounts payable |
12,484,269 |
7,898,460 |
|
Accounts payable to related parties |
|
|
|
Total accounts payable to related parties |
536,544 |
256,131 |
|
Construction contracts payable |
3,853,724 |
4,115,170 |
|
Other payables |
|
|
|
Total other payables |
21,437,649 |
19,351,699 |
|
Current tax liabilities |
2,129,043 |
1,621,208 |
|
Current provisions |
|
|
|
Total current provisions |
4,324,106 |
3,158,369 |
|
Other current liabilities |
|
|
|
Long-term liabilities, current portion |
|
|
|
Bonds payable, current portion |
5,212,668 |
4,696,735 |
|
Long-term borrowings, current portion |
16,210,014 |
23,561,520 |
|
Total long-term liabilities, current portion |
21,422,682 |
28,258,255 |
|
Other current liabilities, others |
3,530,170 |
3,092,890 |
|
Total other current liabilities |
24,952,852 |
31,351,145 |
|
123,150,208 |
134,366,854 |
|
|
Non-current liabilities |
|
|
|
Non-current derivative financial liabilities for hedging |
36,065 |
57,412 |
|
Bonds payable |
|
|
|
Total bonds payable |
95,037,294 |
94,842,610 |
|
Long-term borrowings |
|
|
|
Long-term bank loans |
70,329,355 |
83,128,236 |
|
Others long-term borrowings |
36,626,165 |
24,459,879 |
|
Total long-term borrowings |
106,955,520 |
107,588,115 |
|
Non-current provisions |
|
|
|
Total non-current provisions |
815,694 |
828,923 |
|
Deferred tax liabilities |
|
|
|
Total deferred tax liabilities |
12,261,289 |
12,417,475 |
|
Other non-current liabilities |
|
|
|
Net defined benefit liability, non-current |
6,901,619 |
5,967,987 |
|
Other non-current liabilities, others |
1,384,411 |
1,344,807 |
|
Total other non-current liabilities |
8,286,030 |
7,312,794 |
|
223,391,892 |
223,047,329 |
|
|
Total liabilities |
346,542,100 |
357,414,183 |
|
Equity |
|
|
|
Equity attributable to owners of parent |
|
|
|
Share capital |
|
|
|
Ordinary share |
157,348,610 |
157,348,610 |
|
Preference share |
382,680 |
382,680 |
|
Total capital stock |
157,731,290 |
157,731,290 |
|
Capital surplus |
|
|
|
Total capital surplus |
37,807,466 |
37,612,027 |
|
Retained earnings |
|
|
|
Legal reserve |
59,934,379 |
59,173,907 |
|
Special reserve |
29,786,846 |
27,132,983 |
|
Unappropriated retained earnings (accumulated deficit) |
|
|
|
Total unappropriated retained earnings (accumulated deficit) |
17,196,041 |
13,323,848 |
|
Total retained earnings |
106,917,266 |
99,630,738 |
|
Other equity interest |
|
|
|
Total other equity interest |
8,680,706 |
7,924,408 |
|
Treasury shares |
8,576,842 |
8,577,644 |
|
Total equity attributable to owners of parent |
302,559,886 |
294,320,819 |
|
Non-controlling interests |
27,019,807 |
26,404,014 |
|
329,579,693 |
320,724,833 |
|
|
Total liabilities and equity |
676,121,793 |
678,139,016 |
|
Equivalent issue shares of advance receipts for ordinary share |
0 |
0 |
|
Number of shares in entity held by entity and by its subsidiaries |
318,007,000 |
318,036,000 |
Profit and Loss Account
Unit: NTD/000
|
2016 |
2015 |
|
|
Operating revenue |
|
|
|
Total operating revenue |
293,055,804 |
285,053,876 |
|
Operating costs |
|
|
|
Total operating costs |
253,332,496 |
263,652,456 |
|
Gross profit (loss) from operations |
39,723,308 |
21,401,420 |
|
Unrealized profit (loss) from sales |
0 |
89 |
|
Gross profit (loss) from operations |
39,723,308 |
21,401,331 |
|
Operating expenses |
|
|
|
Selling expenses |
|
|
|
Total selling expenses |
4,950,440 |
4,649,447 |
|
Administrative expenses |
|
|
|
Total administrative expenses |
7,165,255 |
6,676,319 |
|
Research and development expenses |
|
|
|
Total research and development expenses |
2,175,992 |
1,960,034 |
|
Total operating expenses |
14,291,687 |
13,285,800 |
|
Net operating income (loss) |
25,431,621 |
8,115,531 |
|
Non-operating income and expenses |
|
|
|
Other income |
|
|
|
Total other income |
1,471,380 |
1,759,579 |
|
Other gains and losses |
|
|
|
Other gains and losses, net |
-523,311 |
3,179,750 |
|
Finance costs |
|
|
|
Finance costs, net |
3,816,641 |
3,752,097 |
|
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 |
-663,882 |
202,847 |
|
Total non-operating income and expenses |
-3,532,454 |
1,390,079 |
|
Profit (loss) from continuing operations before tax |
21,899,167 |
9,505,610 |
|
Tax expense (income) |
|
|
|
Total tax expense (income) |
2,711,843 |
1,886,191 |
|
Profit (loss) from continuing operations |
19,187,324 |
7,619,419 |
|
Profit (loss) |
19,187,324 |
7,619,419 |
|
Other comprehensive income |
|
|
|
Components of other comprehensive income that will not be reclassified
to profit or loss |
|
|
|
Gains (losses) on remeasurements of defined benefit plans |
-1,166,886 |
-490,525 |
|
Income tax related to components of other comprehensive income that
will not be reclassified to profit or loss |
-182,490 |
-76,869 |
|
Components of other comprehensive income that will not be reclassified
to profit or loss |
-984,396 |
-413,656 |
|
Components of other comprehensive income that will be reclassified to
profit or loss |
|
|
|
Exchange differences on translation |
-1,827,100 |
-927,721 |
|
Unrealised gains (losses) on valuation of available-for-sale financial
assets |
1,900,382 |
-2,679,096 |
|
Gains (losses) on effective portion of cash flow hedges |
-164,285 |
-19,026 |
|
Share of other comprehensive income of associates and joint ventures
accounted for using equity method, components of other comprehensive income
that will be reclassified to profit or loss |
|
|
|
Share of other comprehensive income of associates and joint ventures
accounted for using equity method, components of other comprehensive income
that will be reclassified to profit or loss |
-186,690 |
997,447 |
|
Income tax related to components of other comprehensive income that
will be reclassified to profit or loss |
-86,036 |
32,953 |
|
Components of other comprehensive income that will be reclassified to
profit or loss |
-191,657 |
-2,661,349 |
|
Other comprehensive income, net |
-1,176,053 |
-3,075,005 |
|
Total comprehensive income |
18,011,271 |
4,544,414 |
|
Profit (loss), attributable to: |
|
|
|
Profit (loss), attributable to owners of parent |
16,038,369 |
7,604,721 |
|
Profit (loss), attributable to non-controlling interests |
3,148,955 |
14,698 |
|
Comprehensive income attributable to: |
|
|
|
Comprehensive income, attributable to owners of parent |
15,950,850 |
5,073,036 |
|
Comprehensive income, attributable to non-controlling interests |
2,060,421 |
-528,622 |
|
Basic earnings per share |
|
|
|
Total basic earnings per share |
1.04 |
0.49 |
Cash Flows
Unit: NTD/000
|
Consolidated |
2016 |
2015 |
|
Cash flows from (used in) operating activities, indirect method |
|
|
|
Profit (loss) from continuing operations before tax |
21,899,167 |
9,505,610 |
|
Profit (loss) before tax |
21,899,167 |
9,505,610 |
|
Adjustments |
|
|
|
Adjustments to reconcile profit (loss) |
|
|
|
Depreciation expense |
35,691,883 |
35,116,060 |
|
Amortization expense |
371,594 |
339,665 |
|
Net loss (gain) on financial assets or liabilities at fair value
through profit or loss |
-38,984 |
98,790 |
|
Interest expense |
3,816,641 |
3,752,097 |
|
Interest income |
-317,940 |
-426,374 |
|
Dividend income |
-574,258 |
-403,048 |
|
Share of loss (profit) of associates and joint ventures accounted for
using equity method |
581,025 |
-281,595 |
|
Loss (gain) on disposal of property, plant and equipment |
-335,742 |
72,143 |
|
Loss (gain) on disposal of intangible assets |
-2,741 |
-2,318 |
|
Loss (gain) on disposal of investments |
-1,288,242 |
-2,317,857 |
|
Impairment loss on financial assets |
770,842 |
405,022 |
|
Impairment loss on non-financial assets |
-3,970,141 |
4,559,013 |
|
Reversal of impairment loss on non-financial assets |
45,168 |
-1,652,414 |
|
Other adjustments to reconcile profit (loss) |
8,746,473 |
4,392,239 |
|
Total adjustments to reconcile profit (loss) |
43,495,578 |
43,651,423 |
|
Changes in operating assets and liabilities |
|
|
|
Changes in operating assets |
|
|
|
Decrease (increase) in financial assets held for trading |
-296,414 |
881,219 |
|
Decrease (increase) in notes receivable |
-26,983 |
36,981 |
|
Decrease (increase) in notes receivable due from related parties |
-126,073 |
-95,803 |
|
Decrease (increase) in accounts receivable |
-930,908 |
330,976 |
|
Decrease (increase) in accounts receivable due from related parties |
-50,988 |
286,794 |
|
Decrease (increase) in construction contracts receivable |
295,306 |
-1,453,861 |
|
Decrease (increase) in other receivable |
38,119 |
46,880 |
|
Decrease (increase) in inventories |
-6,612,449 |
7,927,512 |
|
Decrease (increase) in other current assets |
-61,464 |
2,265,716 |
|
Total changes in operating assets |
-7,771,854 |
10,226,414 |
|
Changes in operating liabilities |
|
|
|
Increase (decrease) in notes payable |
296,145 |
-829,296 |
|
Increase (decrease) in notes payable to related parties |
0 |
-88 |
|
Increase (decrease) in accounts payable |
4,585,809 |
-1,005,060 |
|
Increase (decrease) in accounts payable to related parties |
280,413 |
-433,492 |
|
Increase (decrease) in construction contracts receivable |
-261,446 |
-1,287,868 |
|
Increase (decrease) in other payable |
2,591,463 |
-413,757 |
|
Increase (decrease) in provisions |
-7,522,566 |
-5,224,959 |
|
Increase (decrease) in other current liabilities |
-166,259 |
-187,549 |
|
Increase (decrease) in net defined benefit liability |
-50,764 |
50,430 |
|
Total changes in operating liabilities |
-247,205 |
-9,331,639 |
|
Total changes in operating assets and liabilities |
-8,019,059 |
894,775 |
|
Total adjustments |
35,476,519 |
44,546,198 |
|
Cash inflow (outflow) generated from operations |
57,375,686 |
54,051,808 |
|
Income taxes refund (paid) |
-2,226,223 |
-4,776,794 |
|
Net cash flows from (used in) operating activities |
55,149,463 |
49,275,014 |
|
Cash flows from (used in) investing activities |
|
|
|
Acquisition of financial assets at fair value through profit or loss, designated
as upon initial recognition |
-3,263,329 |
-5,727,876 |
|
Proceeds from disposal of financial assets at fair value through profit
or loss, designated as upon initial recognition |
3,714,862 |
6,578,485 |
|
Acquisition of available-for-sale financial assets |
-2,570,588 |
-23,053,113 |
|
Proceeds from disposal of available-for-sale financial assets |
4,266,220 |
5,321,509 |
|
Proceeds from capital reduction of available-for-sale financial assets |
16,840 |
567,347 |
|
Acquisition of investments in debt instrument without active market |
-24,269 |
-45,441 |
|
Proceeds from disposal of investments in debt instrument without active
market |
120,419 |
949,226 |
|
Acquisition of held-to-maturity financial assets |
-19,480 |
-55,753 |
|
Proceeds from disposal of held-to-maturity financial assets |
77,236 |
0 |
|
Acquisition of investments accounted for using equity method |
-11,100,850 |
-1,242,940 |
|
Proceeds from disposal of investments accounted for using equity method |
178,384 |
0 |
|
Net cash flow from acquisition of subsidiaries |
0 |
-105,382 |
|
Acquisition of property, plant and equipment |
-19,618,793 |
-25,119,118 |
|
Proceeds from disposal of property, plant and equipment |
895,675 |
109,749 |
|
Increase in refundable deposits |
-86,735 |
-42,454 |
|
Acquisition of intangible assets |
-382,402 |
-122,687 |
|
Acquisition of investment properties |
-339,112 |
-390,207 |
|
Increase in other financial assets |
-289,219 |
1,220,484 |
|
Decrease in other non-current assets |
424,793 |
176,918 |
|
Interest received |
332,908 |
431,312 |
|
Dividends received |
848,477 |
756,877 |
|
Net cash flows from (used in) investing activities |
-26,818,963 |
-39,793,064 |
|
Cash flows from (used in) financing activities |
|
|
|
Increase in short-term loans |
286,529,045 |
235,755,883 |
|
Decrease in short-term loans |
-283,521,183 |
-232,763,733 |
|
Increase in short-term notes and bills payable |
-15,009,186 |
11,529,190 |
|
Proceeds from issuing bonds |
5,400,000 |
9,996,610 |
|
Repayments of bonds |
-4,699,300 |
-8,313,002 |
|
Proceeds from long-term debt |
57,902,133 |
47,721,329 |
|
Repayments of long-term debt |
-76,915,897 |
-49,248,241 |
|
Increase in other borrowings |
179,932,318 |
187,707,326 |
|
Decrease in other borrowings |
-167,766,032 |
-183,266,859 |
|
Increase in other non-current liabilities |
45,656 |
278,482 |
|
Cash dividends paid |
-7,815,051 |
-15,590,415 |
|
Proceeds from sale of treasury shares |
0 |
13,325 |
|
Interest paid |
-4,032,834 |
-4,021,824 |
|
Change in non-controlling interests |
-1,541,573 |
-3,235,448 |
|
Net cash flows from (used in) financing activities |
-31,491,904 |
-3,437,377 |
|
Effect of exchange rate changes on cash and cash equivalents |
-553,340 |
350,710 |
|
Net increase (decrease) in cash and cash equivalents |
-3,714,744 |
6,395,283 |
|
Cash and cash equivalents at beginning of period |
17,054,940 |
10,659,657 |
|
Cash and cash equivalents at end of period |
13,340,196 |
17,054,940 |
|
Cash and cash equivalents reported in the statement of financial
position |
15,467,768 |
20,334,823 |
|
Other items qualifying for cash and cash equivalents under the definition
of IAS 7 |
-2,127,572 |
-3,279,883 |
Note: The above financial figures are based on the IFRSs Accounting System.
Bankers
|
1 |
|
|
Name: |
Bank of Taiwan |
|
2 |
|
|
Name: |
Mega International Bank |
Public Record
Mortgage
No chattel mortgage record of subject has been found within the recent 3
months.
Lawsuit
Up to date of reporting, no existing or latent
litigation of the subject has been found.
Special Note
Interview Details
|
Name: |
Ms. Li |
|
Department |
Sales Department |
|
E-mail: |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.07 |
|
|
1 |
INR 91.34 |
|
Euro |
1 |
INR 80.03 |
|
TWD |
1 |
INR 2.19 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on secured
terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.