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Statement |
1.Date of occurrence of the event:2011/03/29
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 (Wuxi) Ltd.
(2)relationship to the Company:A subsidiary 100%
owned by Oriental Textile (Holding) Ltd.
(3)ceiling on the loan amounts:
4,773,753 Thousand NT Dollars
(4)amount of loans originally extended:
0
(5)amount of the current additional loans:
1,937,590 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:
2,185,864 Thousand NT Dollars
6.Accumulated profit/loss of the party to which the loans
have been extended according to its latest financial report:
9,852 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 Oriental
Textile (Holding) 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 Oriental
Textile (Holding) 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:34.85%
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:1,937,590 Thousand NT Dollars
14.Any other matters that need to be specified:NA
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