Contents - MiTAC

E. Accounts payable
December 31,
2003 2002
MTC $ 190,436 $ 220,537
MPT 1,335,919 1,089,615
Others 57,505 19,242
$ 1,583,860 $ 1,329,394
F. Accounts payable
December 31,
2003 2002
MPT $ 35,800 $ 65,968
PRL 23 74,743
MTC - 49,921
Others 7,415 46,623
$ 43,238 $ 237,255
G. In 2003 and 2002, the Company bought equipment from related parties at the price of
$88,389 and $98,590, respectively.
H. As of December 31, 2003 and 2002, the Company guaranteed and endorsed the bank
loans of Top Wisdom Corp. amounting to $120,700 and $147,442, respectively.
As of December 31, 2003 and 2002, the Company guaranteed and endorsed certain
contracts entered into by MITAC Inc. amounting to $1,828,521 and $1,828,666,
respectively. Guarantee is secured by 4,066 thousand shares of listed stock in 2002 and
2003 (market value at December 31, 2003 was approximately $187,036).
As of December 31, 2003 and 2002, the Company provided guarantees of rent to
MITAC Technology Co., Ltd. amounting to $9,667 and $14,267, respectively.
As of December 31, 2003 and 2002, the Company guaranteed and endorsed the bank
loans of Tsu Fung Investment Co., Ltd. amounting to $420,000 and $430,000.
As of December 31, 2003 and 2002, the Company guaranteed and endorsed the bank
loans of Mitac Precision Technology Corp. amounting to $400,000 and $1,150,000.
As of December 31, 2003 and 2002, the Company guaranteed and endorsed the bank
loans of So Fung Investment Co., Ltd. amounting to $220,000 and $290,000,
respectively.
As of December 31, 2003 and 2002, MITAC Technology Corp. provided guarantees of
rent to the Company amounting to $6,311 and $3,450, respectively.
I. In 2003 and 2002, the Company earned rent revenue from related party amounted to
$38,663 and $21,954, respectively.
6. ASSETS PLEDGED AS COLLATERAL
December 31,
ASSETS 2003 2002 Subject of collateral
Other current assets and
other assets:
Time deposit $ - $ 82,343 Long-term debts, guarantee of
performing contract and bonds payable
Land $ 1,339,947 $ 1,339,947 Bonds payable
Building 1,812,369 2,151,100 Bonds payable and long-term debts
Machinery and Equipment - 38,421 Long-term debts
$ 3,152,316 $ 3,529,468
Land usage right $ - $ 135,297 Short-term loans
7. COMMITMENTS AND CONTINGENT LIABILITIES
1) The Company has outstanding letters of credit for inventory purchases of
approximately $23,818 and $206,664 at December 31, 2003 and 2002, respectively.
2) The Company has credit lines for guarantee of customs duties in 2003 and 2002. As
of December 31, 2003 and 2002, the amount of customs duties guaranteed by the bank
was $6,000 and $5,500, respectively.
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