Letter To Shareholders - Mitac

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(d) Derivative financial instruments: The forward for trading was entered for hedging the foreign exchange risk. It results cash in and cash out, respectively, at maturity. Because the Group will receive and pay the cash on settlement dates and the future working capital is sufficient, therefore, the liquidity risk and cash flow risk is low. (e) Long-term liabilities of financial instruments: The Group has sufficient working capital to meet various funding needs and major capital expenditures. Thus, the Group expects to have no significant liquidity risk. D. Cash flow risk (a) The Group issues parts of secured bonds payable with fixed interest rate and parts of secured bonds payable with floating interest rate. The Group undertakes interest rate swaps to hedge cash flow risk arising from fluctuations in interest rates. The Group issues unsecured bonds payable with zero interest and there is no cash flow risk arising from fluctuations in interest rates. (b) Derivative financial instruments: These financial instruments are non-interest bearing financial instruments. Thus, there is no cash flow risk. (c) Short-term financial instruments: Maturities of these financial instruments are within one year, there is no material cash flow risk. (d) Long-term liabilities of financial instruments: The Group borrows loans, with floating interest rate. The effective interest rate of loans would be changed due to changes in market interest rates, which would cause the fluctuations in future cash flows. The Group also has established a risk management program and carries out procedures to monitor cash flow risk arising from fluctuations in interest rates. Thus, the Group expects to have no significant cash flow risk. 6) The Group’s interest rate risk arises from floating rate bonds payables. Bonds payables issued at variable rates expose the Group to cash flow interest rate risk, therefore the Group undertakes interest rate swaps to hedge cash flow risk. Hedge item Interest expense of bonds payable with floating interest rate Designated for hedging Financial instrument was designated for December 31, hedging instrument 2009 2008 Interest rate SWAP Period of anticipated cash flow $ - $ 1,045 2004.05.25~ 2009.05.25 Period of gain (loss) recognized in income statements N/A For the year ended December 31, 2009 For the year ended December 31, 2008 Items Amount of gain or loss recognized directly in equity ($ 1,045 ) $ 12,028 Amount removed from equity and recognized in profit or loss - Amount removed from equity and adjusted in non-financial assets / liabilities - ~140~
11.SUPPLEMENTARY DISCLOSURES A. Information of Significant Transactions: (1) Loans granted during the year ended December 31, 2009: Creditor Borrower MiTAC International Corp. Silver Star Developments Ltd. General ledger account Other receivables Maximum outstanding Ending balance Interest rate Nature of loan Amount of transaction with borrower Reason of short-term financing Collateral Allowance for doubtful accounts Item Value Limit on loans granted to a singly party $1,398,000 $ - - Note 1 - Operations $ - None $ - $3,131,238 (Note 2) Note 1: The borrowers required short-term capital. Note 2: Equal to 10% of the net worth based on the financial statements audited or reviewed by independent accountants. Note 3: Equal to 20% of the net worth based on the financial statements audited or reviewed by independent accountants. (2) Endorsements and guarantees provided during the year ended December 31, 2009: Endorser / guarantor MiTAC International Corp. Party being endorsed / guaranteed Tsu Fung Investment Corp. 〃 Silver Star Developments Ltd. 〃 MiTAC Japan Corp. Relationship with the endorser / guarantor Limit on endorsements / guarantees provided for a single party Maximum outstanding endorsements / guarantees amount during 2009 the Outstanding endorsements / guarantees amount at Dec. 31, 2009 the Amount of endorsements / guarantees with collateral placed Ratio of accumulated endorsements / guarantees amount to net asset value of the Company Ceiling on total loans granted $6,262,477 (Note 3) Ceiling on total amount of endorsements / guarantees provided Subsidiary $15,656,192 $160,000 $100,000 - 0.32% $31,312,383 (Note) 〃〃 388,800 - - 0.00% 〃〃〃 116,000 116,000 - 0.37% 〃〃 MiTAC U.K. Ltd. 〃〃 16,787 13,771 - 0.04% 〃〃 Mio Technology 〃〃 206,964 206,964 - 0.66% 〃 UK Ltd. 〃 MiTAC Australia 〃〃 17,247 17,247 - 0.06% 〃 Pty Ltd. 〃 Tyan Computer Corp. -USA 〃〃 81,187 81,187 - 0.26% 〃 Note: Equal to the net worth based on the financial statements audited or reviewed by independent accountants. ~141~
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009 ANNUAL REPORT StockNo:2315 2009
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Contents 1. 7. Assessment Letter To
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competitiveness Letter in the marke
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2007 2009 2008 2005 2006 2007 Compa
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2007 2009 2008 2005 2006 2007 Compa
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3.1.2 Responsibilities of major dep
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Names Chairman Mathew Miau Director
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Titles Names Dates took position Sh
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Titles Vice president Vice presiden
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Below 2,000,000 Remuneration Rankin
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Titles Names MiTAC Salaries (A) In
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Managers Receiving Employee Bonuses
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3.3.2 Supervisors’ participation
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Items Status Differentiation with o
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3.3.4 Social contribution to enviro
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3.3.6 Important resolutions reached
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3.4. CPA’s dues Range of Audit Re
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3.7 Relationships between the top t
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3.8 Aggregate shareholding percenta
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2. Preferred stock: None 4.1.4 Majo
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latest financial year after taking
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MiTAC International Corp. Regulatio
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converting price is to be adjusted
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total issuance value, the Company m
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4.3 Employees’ stock options 4.3.
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April 30, 2010 Type of employees’
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April 30, 2010 Units:NT$ Thousand/
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April 30, 2010 Units:NT$ Thousand/S
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‧Personal computers with wire or
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(6) Since many worldly famous compa
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communication technologies mature i
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manufactured for the mainstream mar
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state-of-the-art hardware with navi
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devices, establishes connection wit
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downstream technologies to develop
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2009, and 1.3 million units sold in
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customer satisfaction for a greater
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5.2.2 Important applications and pr
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Volume/value Year 2008 2009 Major p
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5.4.2 MiTAC’s environmental healt
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consumption. To comply with the REA
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and the integration of all our comp
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6. Financial Statement 6.1. Most re
Page 93 and 94: 6.2. Financial analysis in most rec
Page 95 and 96: 6.3. Supervisors’ Report of the m
Page 97 and 98: MITAC INTERNATIONAL CORP. AND SUBSI
Page 103 and 104: 2.Research, development, manufactur
Page 105 and 106: 4) Classification of current and no
Page 107 and 108: 11) Allowance for doubtful accounts
Page 109 and 110: 18) Convertible bonds For convertib
Page 111 and 112: C. When a company’s treasury stoc
Page 113 and 114: B. The Company's investee, G. Marso
Page 115 and 116: D. Lian Jie Investment Co., Ltd. ma
Page 117 and 118: than the sum of carrying value of i
Page 119 and 120: 14) Long-term loans December 31, Ba
Page 121 and 122: 17) Capital reserve The R.O.C. Secu
Page 123 and 124: 19) Share-based payment ─ employe
Page 125 and 126: (b) As of December 31, 2009, the su
Page 127 and 128: G. (a) A summary of the movements u
Page 129 and 130: (c) The Company assumed the employe
Page 131 and 132: exceed the sum of retained earnings
Page 133 and 134: C. Components of deferred income ta
Page 135 and 136: 21) Earnings per share Income befor
Page 137 and 138: treasury stock. 23) Personnel, depr
Page 139 and 140: E. Accounts payable As of December
Page 141 and 142: 10. OTHER INFORMATION 1) The fair v
Page 143: (c) Short-term financial instrument
Page 147 and 148: Note 2: 47,500,000 shares were pled
Page 149 and 150: (8) Receivables from related partie
Page 151 and 152: B. Information of Subsidiaries: (1)
Page 153 and 154: Note 3: Equal to 50% of the net wor
Page 155 and 156: (5) Marketable securities for which
Page 157 and 158: (10) Information on derivative tran
Page 159 and 160: ) Major transactions with the subsi
Page 161 and 162: D) The relation of business and imp
Page 163 and 164: 12. SEGMENT INFORMATION 1) Operatio
Page 165 and 166: 7 Assessment of financial condition
Page 167 and 168: 7.3 Cash flow analysis Unit: NT$ Th
Page 169 and 170: 7.5.2 Influences of the interest ra
Page 171 and 172: (4) Enterprise and channel servers/
Page 173 and 174: 8.1. Information of affiliates 8.1.
Page 175 and 176: 2. Affiliated companies - basic dat
Page 177 and 178: Company Name Date established Addre
Page 179 and 180: MiTAC (U.K.) Ltd. Sales of MiTAC’
Page 181 and 182: Company name Title Name or Rep. Sha
Page 183: 8.2. MiTAC’s stocks held or dispo
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Letter To Shareholders - Mitac

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