|
|
|
MIRA
INFORM REPORT
|
Report No. : |
484205 |
|
Report Date : |
12.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
NAN YA PLASTICS CORPORATION |
|
|
|
|
Registered Office : |
No.101, Shuiguan Rd., Renwu Dist., Kaohsiung City 81465, (R.O.C.) |
|
|
|
|
Country : |
Taiwan |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
22.08.1958 |
|
|
|
|
Com. Reg. No.: |
75370905 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturing and Sales of
Chemicals. |
|
|
|
|
No. of Employees : |
About 12,600 Employees |
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 : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 |
Company name and address
|
Company Name: |
|
|
Supplied Name: |
|
|
Trading Address: |
|
|
Supplied Address: |
|
|
Telephone Number: |
+886-2-2712-2211 |
|
Fax Number: |
|
|
E-mail: |
|
|
Website: |
NOTES: The exact name and address are above. The
supplied address belongs to subject’s registered address. The supplied name is a
division of Nan Ya Plastics Corporation. The supplied telephone number
(+886-27178505) belongs to this division.
Company Identification Details
|
Nan Ya Plastics
Corporation |
|
|
Registered Address: |
No.101, Shuiguan
Rd., Renwu Dist., Kaohsiung City 81465, Taiwan (R.O.C.) |
|
Date of Foundation: |
1958-08-22 |
|
Registration Number: |
75370905 |
|
Registry: |
Department
of Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 79,308,215,890
(USD 2,617,171,124) (As of 2017.05,
1 NTD = 0.033 USD) |
|
Paid-up Capital: |
NTD
79,308,215,890 (USD 2,617,171,124) |
|
Legal Representatives: |
Jiazhao Wu |
|
Legal Form: |
Joint Stock
Company |
|
Principal Activities: |
Manufacturing and
sales of chemicals, etc. |
|
Staff: |
About 12,600
Employees |
|
Listed at Stock Exchange: |
Yes; Stock
Symbol: 1303 |
|
Date of Last Annual Return: |
2017-07-04 |
History
Subject was incorporated on
Subject was listed on Taiwan Stock Exchange on 1967-11-05.
Corporate Structure
Factory
|
Name: |
Lin Kou 1st
Plant |
|
Address: |
No. 122, Nan Lin Road, Taishan District, New Taipei, Taiwan |
|
Date of
Registration: |
2016-08-05 |
|
Factory
Registration Number: |
65005159 |
|
Factory
Manager: |
Wenzheng Yang |
|
Status: |
In Production |
|
Date of Last
Annual Return: |
2016-08-05 |
|
Major Products: |
220 plastic products |
Branch Companies
|
1 |
|
|
Name |
Mai Liao Branch |
|
Registered Address |
No.1-1, Formosa Industrial Park, Sansheng Village, Miaoliao Township, Yunlin County, Taiwan |
|
Registration Number |
84897162 |
|
Date of Registration |
1994-10-03 |
|
Date of Last Annual Return |
2014-08-08 |
|
2 |
|
|
Name |
Xin Gang Branch |
|
Registered Address |
No.2, Zhongyang Industrial Park, Zhongyang Village, Xingang Township, Jiayi County, Taiwan |
|
Registration Number |
84709751 |
|
Date of Registration |
1994-03-17 |
|
Date of Last Annual Return |
2015-11-18 |
|
3 |
|
|
Name |
Taipei Branch |
|
Registered Address |
1F., No. 201, Tung Hwa North Road, Taipei City, Taiwan |
|
Registration Number |
20754420 |
|
Date of Registration |
1966-06-27 |
|
Date of Last Annual Return |
2017-07-04 |
Related Companies
|
1 |
|
|
Name |
Inotera Memories Inc |
|
Address |
667, Fuhsing 3rd Rd, Hwa-Ya Technology Park, Kueishan, Taoyuan 333, Taiwan |
|
Tel |
+886-3-327-2988 |
|
2 |
|
|
Name |
Nan Ya Printed Circuit Board Corp |
|
Address |
No.338, Sec.1 Nankan Rd., Luchu Hsiang, Taoyuan County, Taiwan |
|
Tel |
+886-3-322-3751 |
|
3 |
|
|
Name |
Nan Ya Plastic Corporation America |
|
Address |
9 Peach Tree Hill Road, Livingston, NJ 07039 |
|
Tel |
+1-973-992-2090 |
|
Fax |
+1-973-716-7470 |
|
4 |
|
|
Name |
Nan Ya Photonics Inc. |
|
Address |
No. 55, Wei Wang St., Shu-Lin, Taipei County, Taiwan238, R.O.C. |
|
Tel |
+886-2-2680-6311 |
|
Fax |
+886-2-2680-9611 |
|
5 |
|
|
Name |
Nan Ya Technology Corporation |
|
Address |
Hwa Ya Technology Park, 669, Fu Hsing 3rd Rd., Kueishan, Taoyuan 333, Taiwan |
|
Tel |
+886-3-328-1688 |
|
Fax |
+886-3-396-0997 |
Shareholders
|
Name |
Subscription Shares |
|
Jiazhao Wu |
79,030 |
|
Wenyuan Wang |
66,206,752 |
|
Formosa Petrochemical Corporation |
179,214,423 |
|
Ruiyu Wang |
19,052,421 |
|
Yunpeng Zhu |
1,199 |
|
Mingren Zou |
188,742 |
|
Guiyun Wang |
11,164,271 |
|
Formosa Plastics Corporation |
783,356,865 |
|
Formosa Chemicals & Fibre Corp. |
413,327,750 |
|
Fengqin Lin |
25,458 |
|
Richun Jian |
303,377 |
|
Xinyi Huang |
806 |
|
Fu Lin Investment Co., Ltd (Liberal Translation) |
3,287,472 |
Shareholder Information
|
1 |
|
|
Registered Name: |
Formosa Plastics Corporation |
|
Registered Address: |
No.39, Chung Shan 3rd Rd., Kaohsiung City, Taiwan, R.O.C. |
|
Date of Foundation: |
1954-11-05 |
|
Registration Number: |
75708007 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 63,657,407,810 |
|
Paid-up Capital: |
NTD 63,657,407,810 |
|
Legal Representatives: |
Jiannan Lin |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2017-04-27 |
|
2 |
|
|
Registered Name: |
Fu Lin Investment Co., Ltd (Liberal Translation) |
|
Registered Address: |
1F., No.103, Sec. 2, Ziyou Rd., Central Dist., Taichung City, Taiwan (R.O.C.) |
|
Date of Foundation: |
2006-01-12 |
|
Registration Number: |
28075924 |
|
Registry: |
Taichung City Government |
|
Registered Capital: |
NTD 454,450,000 |
|
Legal Representatives: |
Wenyi Zhang |
|
Legal Form: |
Private Limited Liability Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2016-05-28 |
|
3 |
|
|
Registered Name: |
Formosa Chemicals & Fibre Corp. |
|
Registered Address: |
No. 359, Chungshan Road, Sec. 3, Chang Hwa City, Chang Hwa County, Taiwan, R.O.C. |
|
Date of Foundation: |
1965-03-05 |
|
Registration Number: |
58650902 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 58,611,862,910 |
|
Paid-up Capital: |
NTD 58,611,862,910 |
|
Legal Representatives: |
Wenyuan Wang |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2017-04-25 |
|
4 |
|
|
Registered Name: |
Formosa Petrochemical Corporation |
|
Registered Address: |
No.1-1,Formosa Plastic Group Industrial Zone,Mai-Liao Township, Yunlin County,Taiwan,R.O.C. |
|
Date of Foundation: |
1992-04-06 |
|
Registration Number: |
86522210 |
|
Registry: |
Department of Commerce, Ministry of Economic Affairs, R.O.C. |
|
Registered Capital: |
NTD 95,259,596,520 |
|
Paid-up Capital: |
NTD 95,259,596,520 |
|
Legal Representatives: |
Baolang Chen |
|
Legal Form: |
Joint Stock Company |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2016-06-21 |
Management Information
DIRECTORS
|
1 |
|
|
Name |
Jiazhao Wu |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Wenyuan Wang |
|
Position |
Executive Director |
|
3 |
|
|
Name |
Wenchao Wang |
|
Position |
Executive Director |
|
4 |
|
|
Name |
Ruiyu Wang |
|
Position |
Executive Director |
|
5 |
|
|
Name |
Zhigang Wang |
|
Position |
Executive Director(Independent Director) |
|
6 |
|
|
Name |
Yifu Lin |
|
Position |
Independent Director |
|
7 |
|
|
Name |
Yunpeng Zhu |
|
Position |
Independent Director |
|
8 |
|
|
Name |
Mingren Zou |
|
Position |
Director & Manager |
|
Date of Appointment for Manger |
2005-08-25 |
|
9 |
|
|
Name |
Guiyun Wang |
|
Position |
Director & Manager |
|
Date of Appointment for Manger |
1993-08-27 |
|
10 |
|
|
Name |
Qinren Wu |
|
Position |
Director |
|
11 |
|
|
Name |
Shenyi Li |
|
Position |
Director |
|
12 |
|
|
Name |
Fengqin Lin |
|
Position |
Director & Manager |
|
Date of Appointment for Manger |
2003-11-04 |
|
13 |
|
|
Name |
Richun Jian |
|
Position |
Director |
|
14 |
|
|
Name |
Qingzheng Zhang |
|
Position |
Director |
|
15 |
|
|
Name |
Xinyi Huang |
|
Position |
Director & Manager |
|
Date of Appointment for Manger |
2009-08-28 |
|
16 |
|
|
Name |
Zhengzhong Li |
|
Position |
Manager |
|
Date of Appointment |
2009-08-28 |
|
17 |
|
|
Name |
Xiuye Sheng |
|
Position |
Manager |
|
Date of Appointment |
2014-05-13 |
|
18 |
|
|
Name |
Zongyang Su |
|
Position |
Manager |
|
Date of Appointment |
2014-05-13 |
|
19 |
|
|
Name |
Zongyue Shi |
|
Position |
Manager |
|
Date of Appointment |
2015-06-23 |
|
20 |
|
|
Name |
Yongfang Zhang |
|
Position |
Manager |
|
Date of Appointment |
2015-11-11 |
|
21 |
|
|
Name |
Yangdun Jian |
|
Position |
Manager |
|
Date of Appointment |
2016-03-24 |
|
22 |
|
|
Name |
Guowei Lin |
|
Position |
Manager |
|
Date of Appointment |
2017-06-20 |
|
23 |
|
|
Name |
Yousheng Chen |
|
Position |
Manager |
|
Date of Appointment |
2017-06-20 |
Personnel Structure
|
Total Employees |
About 12,600 Employees |
Operation Information
Offices &
Factories
|
|
Headquarters |
|
Add |
Production
Information
Subject is engaged in manufacturing of chemicals, etc.
Subject has factories in Taiwan for production.
It is introduced that subject also has related factories in the Mainland China and United States for production.
Purchase Information
The registered activities of subject:
|
Business Code |
Details |
|
C301010 |
Spinning industry |
|
C302010 |
Weaving industry |
|
C303010 |
Unwoven cloth industry |
|
C305010 |
Dyeing and finishing industry |
|
C601040 |
Finished paper manufacturing industry |
|
C601990 |
Other paper products manufacturing industry |
|
C801010 |
Basic chemical industry |
|
C801020 |
Raw materials for Petrochemical industry manufacturing industry |
|
C801060 |
Synthetic rubber manufacturing industry |
|
C801100 |
Synthetic resin and plastic manufacturing industry |
|
C801110 |
Fertilizer manufacturing industry |
|
C801120 |
Synthetic fiber manufacturing industry |
|
C801990 |
Other chemical material manufacturing industry |
|
C802041 |
Western medicine manufacturing industry |
|
C802120 |
Industrial aid manufacturing industry |
|
C802170 |
Toxic chemicals manufacturing industry |
|
C802200 |
Coating, paint and dye manufacturing industry |
|
C805010 |
Plastic, cloth, plate and tubular product manufacturing industry |
|
C805020 |
Plastic film and bag manufacturing industry |
|
C805070 |
Reinforced plastics manufacturing industry |
|
C805990 |
Other plastic products manufacturing industry |
|
C901020 |
Glass and glass product manufacturing industry |
|
C901060 |
Refractory material manufacturing industry |
|
CB01010 |
Machine manufacturing industry |
|
CB01030 |
air treatment equipment manufacturing industry |
|
CB01990 |
Other machinery manufacturing industry |
|
CC01010 |
Generate electricity, electricity transmission, power distribution machinery manufacturing industry |
|
CC01080 |
Electronic parts manufacturing industry |
|
CC01090 |
Battery manufacturing industry |
|
CQ01010 |
Mould manufacturing industry |
|
CZ99990 |
Unclassified other industrial products |
|
D101050 |
Steam/electricity co-generation industry |
|
D401010 |
Heat energy supplying industry |
|
E599010 |
Piping engineering industry |
|
E601010 |
Electric product decorating industry |
|
E603050 |
Automata controller project industry |
|
E604010 |
Mechanism installation industry |
|
EZ15010 |
Heat preservation, cold insulation installation project industry |
|
H701020 |
Industrial plants renting industry |
|
H701040 |
Specific area developing industry |
|
I199990 |
Other service industry |
|
ID01010 |
Apparatus for weights and measures industry |
|
IZ99990 |
Other industrial and commercial service industry |
|
J101030 |
Litter cleaning industry |
|
J101040 |
Litter dealing industry |
|
J101050 |
Environment measuring service industry |
|
J101060 |
Sewage treatment industry |
|
CE01021 |
Apparatus for weights and measures manufacturing industry |
|
ZZ99999 |
Besides licensed business, all other business items those are not banned or restricted. |
The raw materials of the subject are mainly purchased from China, Southeast Asia, USA and etc.
Subject is engaged in sale of chemical products, etc.
The products are applied for electronic products, outside sports products, agricultural products and industrial instrument, etc.
The major selling territory includes China, Japan, South Korea, Southeast Asia and USA, etc.
Subject’s major customers are manufacturers of electronics, automobiles, plastic products, textiles, electrical engineering, etc.
Major Products
|
Department |
Product |
|
Electronic Material |
Copper-Clad Laminates, Epoxy Resins, Glass Fabrics, Liquid Crystal Displays And Copper Foils |
|
Plastic Raw Material |
Glycol, Butylene Glycol, Bisphenol A, Toluene Diisocyanate, Plasticizers |
|
Plastic Products |
Plastic Plaster, Poly Urethane (PU) Synthetic Leathers, Polypropylene (PP) Rubber Fabrics, Polyvinyl Chloride (PVC) Plastic Injection Products |
|
Fiber Products |
Polyester Products, Dyeing Products |
Import and export right:
|
Import right |
Yes |
|
Export right |
Yes |
Settlements
Purchase
Domestic Purchase
|
Products |
Raw materials |
|
Payment Terms |
T/T, Cash, etc. |
Import
|
Products |
Raw materials |
|
Payment Terms |
L/C, T/T, etc. |
Sales
Domestic Markets
|
Product |
chemicals, etc. |
|
Selling Terms |
T/T, Cash, etc. |
Export
|
Product |
chemicals, etc. |
|
Selling Terms |
L/C, T/T, etc. |
Balance Sheet
Unit: NTD/000
|
Consolidated |
2016-12-31 |
2015-12-31 |
|
Assets |
|
|
|
Current assets |
|
|
|
Cash and cash equivalents |
|
|
|
Total cash and cash equivalents |
57,411,505 |
51,911,314 |
|
Current available-for-sale financial assets |
|
|
|
Current available-for-sale financial assets, net |
45,602,328 |
38,385,401 |
|
Notes receivable, net |
|
|
|
Notes receivable, net |
9,014,054 |
7,660,251 |
|
Accounts receivable, net |
|
|
|
Accounts receivable, net |
36,793,565 |
30,717,978 |
|
Accounts receivable due from related parties, net |
|
|
|
Accounts receivable due from related parties, net |
1,955,811 |
6,791,344 |
|
Other receivables |
|
|
|
Other receivables, net |
1,605,502 |
1,803,572 |
|
Other receivables due from related parties |
|
|
|
Other receivables due from related parties, net |
25,173,284 |
19,576,482 |
|
Inventories |
|
|
|
Total inventories |
35,385,614 |
38,743,845 |
|
Other current assets |
|
|
|
Total other current assets |
4,536,546 |
4,147,217 |
|
Total current assets |
217,478,209 |
199,737,404 |
|
Non-current assets |
|
|
|
Non-current available-for-sale financial assets |
|
|
|
Non-current available-for-sale financial assets, net |
1,220,108 |
13,087,047 |
|
Non-current financial assets at cost |
|
|
|
Non-current financial assets at cost, net |
18,223,610 |
2,994,772 |
|
Investments accounted for using equity method |
|
|
|
Investments accounted for using equity method, net |
139,567,351 |
142,869,220 |
|
Property, plant and equipment |
|
|
|
Total property, plant and equipment |
139,724,458 |
137,066,328 |
|
Intangible assets |
|
|
|
Total intangible assets |
2,958,086 |
112,325 |
|
Deferred tax assets |
6,036,996 |
5,696,449 |
|
Other non-current assets |
|
|
|
Prepayments for business facilities |
2,068,844 |
2,029,331 |
|
Net defined benefit asset, non-current |
1,097 |
943 |
|
Other non-current assets, others |
|
|
|
Total other non-current assets, others |
9,906,045 |
10,132,157 |
|
Total other non-current assets |
11,975,986 |
12,162,431 |
|
Total non-current assets |
319,706,595 |
313,988,572 |
|
Total assets |
537,184,804 |
513,725,976 |
|
Liabilities and equity |
|
|
|
Liabilities |
|
|
|
Current liabilities |
|
|
|
Short-term borrowings |
|
|
|
Total short-term borrowings |
19,882,214 |
6,929,351 |
|
Short-term notes and bills payable |
|
|
|
Total short-term notes and bills payable |
6,343,802 |
5,548,282 |
|
Accounts payable |
|
|
|
Total accounts payable |
11,402,860 |
8,732,389 |
|
Accounts payable to related parties |
|
|
|
Total accounts payable to related parties |
8,673,428 |
8,643,120 |
|
Other payables |
|
|
|
Total other payables |
17,123,208 |
15,528,488 |
|
Other current liabilities |
|
|
|
Long-term liabilities, current portion |
|
|
|
Bonds payable, current portion |
9,730,424 |
12,472,863 |
|
Long-term borrowings, current portion |
10,487,130 |
7,402,516 |
|
Total long-term liabilities, current portion |
20,217,554 |
19,875,379 |
|
Other current liabilities, others |
1,275,208 |
1,345,239 |
|
Total other current liabilities |
21,492,762 |
21,220,618 |
|
Total current liabilities |
84,918,274 |
66,602,248 |
|
Non-current liabilities |
|
|
|
Bonds payable |
|
|
|
Total bonds payable |
46,571,691 |
51,387,097 |
|
Long-term borrowings |
|
|
|
Total long-term borrowings |
18,651,595 |
23,195,147 |
|
Deferred tax liabilities |
|
|
|
Total deferred tax liabilities |
9,648,074 |
8,998,526 |
|
Other non-current liabilities |
|
|
|
Net defined benefit liability, non-current |
25,521,565 |
24,765,842 |
|
Guarantee deposits received |
659,662 |
608,075 |
|
Other non-current liabilities, others |
180,477 |
217,815 |
|
Total other non-current liabilities |
26,361,704 |
25,591,732 |
|
Total non-current liabilities |
101,233,064 |
109,172,502 |
|
Total liabilities |
186,151,338 |
175,774,750 |
|
Equity |
|
|
|
Equity attributable to owners of parent |
|
|
|
Share capital |
|
|
|
Ordinary share |
79,308,216 |
79,308,216 |
|
Total capital stock |
79,308,216 |
79,308,216 |
|
Capital surplus |
|
|
|
Capital surplus, others |
23,155,633 |
23,642,467 |
|
Total capital surplus |
23,155,633 |
23,642,467 |
|
Retained earnings |
|
|
|
Total retained earnings |
191,296,477 |
169,705,210 |
|
Other equity interest |
|
|
|
Total other equity interest |
44,692,788 |
51,627,849 |
|
Total equity attributable to owners of parent |
338,453,114 |
324,283,742 |
|
Non-controlling interests |
12,580,352 |
13,667,484 |
|
Total equity |
351,033,466 |
337,951,226 |
|
Total liabilities and equity |
537,184,804 |
513,725,976 |
Profit and Loss Account
Unit: NTD/000
|
Consolidated |
2016 |
2015 |
|
Operating revenue |
|
|
|
Total operating revenue |
275,294,431 |
299,781,414 |
|
Operating costs |
|
|
|
Total operating costs |
243,802,971 |
263,459,582 |
|
Gross profit (loss) from operations |
31,491,460 |
36,321,832 |
|
Unrealized profit (loss) from sales |
92,419 |
-33,972 |
|
Gross profit (loss) from operations |
31,399,041 |
36,355,804 |
|
Operating expenses |
|
|
|
Selling expenses |
|
|
|
Total selling expenses |
9,375,091 |
9,542,134 |
|
Administrative expenses |
|
|
|
Total administrative expenses |
8,741,088 |
8,217,138 |
|
Total operating expenses |
18,116,179 |
17,759,272 |
|
Net operating income (loss) |
13,282,862 |
18,596,532 |
|
Non-operating income and expenses |
|
|
|
Other income |
|
|
|
Total other income |
4,907,466 |
4,326,601 |
|
Other gains and losses |
|
|
|
Other gains and losses, net |
9,659,589 |
2,919,033 |
|
Finance costs |
|
|
|
Finance costs, net |
1,573,258 |
1,767,999 |
|
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 |
27,570,332 |
19,570,370 |
|
Total non-operating income and expenses |
40,564,129 |
25,048,005 |
|
Profit (loss) from continuing operations before tax |
53,846,991 |
43,644,537 |
|
Tax expense (income) |
|
|
|
Total tax expense (income) |
5,133,968 |
7,562,833 |
|
Profit (loss) from continuing operations |
48,713,023 |
36,081,704 |
|
Profit (loss) |
48,713,023 |
36,081,704 |
|
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 |
-1,298,530 |
-1,461,950 |
|
Share of other comprehensive income of associates and joint ventures accounted for using equity method, components of other comprehensive income that will not 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 not be reclassified to profit or loss |
-51,807 |
-278,253 |
|
Income tax related to components of other comprehensive income that will not be reclassified to profit or loss |
-220,586 |
-250,925 |
|
Components of other comprehensive income that will not be reclassified to profit or loss |
-1,129,751 |
-1,489,278 |
|
Components of other comprehensive income that will be reclassified to profit or loss |
|
|
|
Exchange differences on translation |
-9,592,870 |
677,995 |
|
Unrealized gains (losses) on valuation of available-for-sale financial assets |
-2,081,521 |
-8,657,912 |
|
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 |
3,983,476 |
-3,188,982 |
|
Income tax related to components of other comprehensive income that will be reclassified to profit or loss |
-146,797 |
247,120 |
|
Components of other comprehensive income that will be reclassified to profit or loss |
-7,544,118 |
-11,416,019 |
|
Other comprehensive income, net |
-8,673,869 |
-12,905,297 |
|
Total comprehensive income |
40,039,154 |
23,176,407 |
|
Profit (loss), attributable to: |
|
|
|
Profit (loss), attributable to owners of parent |
48,840,267 |
35,721,346 |
|
Profit (loss), attributable to non-controlling interests |
-127,244 |
360,358 |
|
Comprehensive income attributable to: |
|
|
|
Comprehensive income, attributable to owners of parent |
40,827,917 |
23,428,479 |
|
Comprehensive income, attributable to non-controlling interests |
-788,763 |
-252,072 |
|
Basic earnings per share |
|
|
|
Basic earnings (loss) per share from continuing operations |
6.16 |
4.50 |
|
Total basic earnings per share |
6.16 |
4.50 |
Cash Flows
Unit: NTD/000
|
Consolidated |
2016 |
2015 |
|
Cash flows from (used in) operating activities, indirect method |
|
|
|
Profit (loss) from continuing operations before tax |
53,846,991 |
43,644,537 |
|
Profit (loss) before tax |
53,846,991 |
43,644,537 |
|
Adjustments |
|
|
|
Adjustments to reconcile profit (loss) |
|
|
|
Depreciation expense |
16,023,658 |
15,836,101 |
|
Amortization expense |
1,781,572 |
1,995,157 |
|
Interest expense |
1,573,258 |
1,767,999 |
|
Interest income |
-719,958 |
-760,893 |
|
Share of loss (profit) of associates and joint ventures accounted for using equity method |
-27,570,332 |
-19,570,370 |
|
Loss (gain) on disposal of property, plant and equipment |
-119,716 |
51,607 |
|
Property, plant and equipment transferred to expenses |
56,178 |
55,329 |
|
Loss (gain) on disposal of investments |
-11,990,605 |
-1,765,643 |
|
Impairment loss on financial assets |
184,119 |
0 |
|
Impairment loss on non-financial assets |
626,001 |
-35,926 |
|
Unrealized profit (loss) from sales |
92,419 |
-33,973 |
|
Unrealized foreign exchange loss (gain) |
-143,729 |
-465,593 |
|
Other revenue, overdue dividends and compensation of board and directors |
-41,765 |
-11,673 |
|
Total adjustments to reconcile profit (loss) |
-20,248,900 |
-2,937,878 |
|
Changes in operating assets and liabilities |
|
|
|
Changes in operating assets |
|
|
|
Decrease (increase) in notes receivable |
-1,035,661 |
371,839 |
|
Decrease (increase) in accounts receivable |
-126,925 |
9,189,929 |
|
Decrease (increase) in other receivable |
-114,966 |
486,219 |
|
Decrease (increase) in inventories |
4,263,105 |
10,924,476 |
|
Decrease (increase) in other current assets |
-59,186 |
1,719,656 |
|
Total changes in operating assets |
2,926,367 |
22,692,119 |
|
Changes in operating liabilities |
|
|
|
Increase (decrease) in accounts payable |
2,578,060 |
575,052 |
|
Increase (decrease) in other payable |
-262,872 |
685,406 |
|
Increase (decrease) in other current liabilities |
-804,459 |
252,339 |
|
Increase (decrease) in net defined benefit liability |
-1,295,507 |
-2,666,851 |
|
Total changes in operating liabilities |
215,222 |
-1,154,054 |
|
Total changes in operating assets and liabilities |
3,141,589 |
21,538,065 |
|
Total adjustments |
-17,107,311 |
18,600,187 |
|
Cash inflow (outflow) generated from operations |
36,739,680 |
62,244,724 |
|
Interest received |
1,091,433 |
1,046,219 |
|
Dividends received |
13,715,392 |
5,380,469 |
|
Interest paid |
-2,415,044 |
-2,315,985 |
|
Income taxes refund (paid) |
-2,744,852 |
-3,140,741 |
|
Net cash flows from (used in) operating activities |
46,386,609 |
63,214,686 |
|
Cash flows from (used in) investing activities |
|
|
|
Acquisition of available-for-sale financial assets |
-5,828,053 |
-4,100,000 |
|
Proceeds from disposal of available-for-sale financial assets |
18,429,277 |
7,701,276 |
|
Acquisition of financial assets at cost |
0 |
-25,000 |
|
Proceeds from capital reduction of financial assets at cost |
25,952 |
32,441 |
|
Acquisition of investments accounted for using equity method |
-1,361,880 |
-1,944,354 |
|
Proceeds from disposal of investments accounted for using equity method |
1,212,997 |
1,655,909 |
|
Net cash flow from acquisition of subsidiaries |
-5,375,410 |
0 |
|
Proceeds from disposal of subsidiaries |
0 |
1,693,392 |
|
Acquisition of property, plant and equipment |
-10,176,351 |
-10,071,962 |
|
Proceeds from disposal of property, plant and equipment |
274,487 |
623,142 |
|
Increase in refundable deposits |
0 |
-58,522 |
|
Decrease in refundable deposits |
42,422 |
0 |
|
Increase in other receivables due from related parties |
-5,596,802 |
0 |
|
Decrease in other receivables due from related parties |
0 |
4,433,896 |
|
Net cash inflows from business combination |
176,050 |
0 |
|
Increase in other non-current assets |
-3,702,444 |
-3,369,267 |
|
Other investing activities |
0 |
-1,015,005 |
|
Net cash flows from (used in) investing activities |
-11,879,755 |
-4,444,054 |
|
Cash flows from (used in) financing activities |
|
|
|
Increase in short-term loans |
7,580,662 |
0 |
|
Decrease in short-term loans |
0 |
-2,272,121 |
|
Increase in short-term notes and bills payable |
795,520 |
5,548,282 |
|
Proceeds from issuing bonds |
4,991,430 |
0 |
|
Repayments of bonds |
-12,437,888 |
-25,770,784 |
|
Proceeds from long-term debt |
5,018,695 |
16,903,569 |
|
Repayments of long-term debt |
-7,231,276 |
-21,217,280 |
|
Increase in guarantee deposits received |
40,586 |
0 |
|
Decrease in guarantee deposits received |
0 |
-8,946 |
|
Decrease in other payables to related parties |
-73,100 |
-32,600 |
|
Increase in other non-current liabilities |
0 |
66,456 |
|
Decrease in other non-current liabilities |
-108,463 |
0 |
|
Cash dividends paid |
-25,133,161 |
-17,238,063 |
|
Change in non-controlling interests |
-572,715 |
-813,568 |
|
Net cash flows from (used in) financing activities |
-27,129,710 |
-44,835,055 |
|
Effect of exchange rate changes on cash and cash equivalents |
-1,876,953 |
1,343,021 |
|
Net increase (decrease) in cash and cash equivalents |
5,500,191 |
15,278,598 |
|
Cash and cash equivalents at beginning of period |
51,911,314 |
36,632,716 |
|
Cash and cash equivalents at end of period |
57,411,505 |
51,911,314 |
|
Cash and cash equivalents reported in the statement of financial position |
57,411,505 |
51,911,314 |
Note: Subject didn’t submit its individual financial information; we obtained its consolidated financials as follows for reference.
The above financial figures are based on the IFRSs Accounting System.
Bankers
|
Name: |
Citibank N.A. |
Public Record
Mortgage
|
1 |
|
|
Case Type: |
Chattel Mortgage |
|
Registered Number: |
078084 |
|
Debtor Name: |
Nan Ya Plastics Corporation |
|
Registry: |
MOEA Central Office |
|
Bank Name: |
Bank of Taiwan Zhongshan Branch |
|
Date of Registration: |
2003-12-23 |
|
Amount of Secure Claims: |
NTD 4,700,000,000 |
|
Type of Subject Matter: |
Machinery, equipment or tools |
|
2 |
|
|
Case Type: |
Chattel Mortgage |
|
Registered Number: |
071125 |
|
Debtor Name: |
Nan Ya Plastics Corporation |
|
Registry: |
Economic Development Board of Taoyuan City Government |
|
Bank Name: |
Bank of Taiwan |
|
Date of Registration: |
2001-08-13 |
|
Amount of Secure Claims: |
NTD 3,600,000,000 |
|
Type of Subject Matter: |
Machinery, equipment or tools |
|
3 |
|
|
Case Type: |
Chattel Mortgage |
|
Registered Number: |
043909 |
|
Debtor Name: |
Nan Ya Plastics Corporation |
|
Registry: |
Economic Development Board of Taoyuan City Government |
|
Bank Name: |
Bank of Taiwan |
|
Date of Registration: |
1993-12-13 |
|
Amount of Secure Claims: |
NTD 110,761,207 |
|
Type of Subject Matter: |
Machinery, equipment or tools |
Lawsuit
|
Trial Number: |
2008,Xiongbu, 2387 |
|
Date of Trial: |
2008-11-26 |
|
Reason: |
|
|
Claimant: |
Not Stated |
|
Defendant: |
Nan Ya Plastics Corporation |
Special Note
Interview Details
|
Name: |
Mr. Liao |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.74 |
|
|
1 |
INR 86.01 |
|
Euro |
1 |
INR 76.14 |
|
TWD |
1 |
INR 2.15 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
NIT |
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.