SEQ_NO | 1 | Date of announcement | 2011/03/21 | Time of announcement | 18:14:35 |
Subject |
According to Article 22-1-3 of regulations governing the“Procedures for Lending of Capital to Others, and Endorsements and Guarantees by Public Companies” |
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Date of events | 2011/03/21 | To which item it meets | article 2 paragraph 23 | ||
Statement |
1.Date of occurrence of the event:2011/03/21 2.Name of the company to which the loans have been extended, its relationship to the Company, ceiling on the loan amounts, amount of loans originally extended, amount of the current additional loans, reason for the current additional loans: (1)Name of the company to which the loans have been extended:Far Eastern Industries (Shanghai) Ltd. (2)relationship to the Company:A subsidiary of Bermuda Far Eastern Polychem Industries Ltd. (3)ceiling on the loan amounts: 9,337,836 Thousand NT Dollars (4)amount of loans originally extended: 0 (5)amount of the current additional loans: 4,896,220 Thousand NT Dollars (6)reason for the current additional loans: To enhance working capital 3.Content of the collateral provided by the party to which the loans have been extended:None 4.Value of the collateral provided by the party to which the loans have been extended:0 5.Capital of the party to which the loans have been extended according to its latest financial report: 8,180,569 Thousand NT Dollars 6.Accumulated profit/loss of the party to which the loans have been extended according to its latest financial report: -2,312,240 Thousand NT Dollars 7.Method of calculation of interest: According to the article 5 of regulations governing the “Procedure for Lending of Capital to Others” by Bermuda Far Eastern Polychem Industries Ltd., interest for inter-company loans shall be calculated on a floating rate or negotiated rate basis which rate is subject to adjustment depending on the costs of fund of the Company. 8.Conditions for repayment: According to the article 5 of regulations governing the “Procedure for Lending of Capital to Others” by Bermuda Far Eastern Polychem Industries Ltd., the term of loans extended by the Company shall not exceed one year. The foresaid restriction shall not apply to the term of loans between foreign companies in which the parent company of the Company holds, directly or indirectly, 100% of the voting shares; under this circumstance, the maximum period shall not exceed three years depending on demands of loan borrowers. 9.Date for repayment:same as above 10.The ratio of the amount of loans to the Company's net worth according to the latest financial report as of the date of occurrence of the event:34.32% 11.The ratio of the amount of loans to the business transaction amount between the Company and the company to which the loans were extended within the most recent fiscal year as of the date of occurrence of the event:Not applicable 12.Source of the funds loaned by a subsidiary to another person: Loans from financial institutions and internal cash flow 13.Balance of monetary loans and balance of endorsements /guarantees by the Company to the subsidiary referred in the preceding item:4,896,220 Thousand NT Dollars 14.Any other matters that need to be specified:NA |