Letter To Shareholders - Mitac
Letter To Shareholders - Mitac
Letter To Shareholders - Mitac
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(8) Purchases or sales transactions with related parties exceeding $100,000 or 20 percent of capital for the year ended December 31, 2009:<br />
The company<br />
buying/selling<br />
products<br />
Silver Star<br />
Developments<br />
Ltd. (SSDL) and<br />
its subsidiaries<br />
Name of<br />
related parties<br />
MiTAC<br />
International<br />
Corp.<br />
Relationship with<br />
counterparty Purchase / Sales Amount<br />
SSDL’s parent<br />
company<br />
Transactions<br />
Reason and situation of having<br />
different transaction term<br />
between related parties and<br />
others<br />
Percentage of<br />
purchase /<br />
sales Credit Term Unit price Credit Term Balance<br />
Accounts and notes receivable (payable)<br />
Sales $7,877,074 23.04% Note 1 Note 3 Note 1 $2,998,770 25.74%<br />
Percentage of<br />
account Note<br />
〃 〃 〃 Purchases 13,568,327 44.77% Note 2 〃 Note 2 (6,134,713) 76.05%<br />
〃 Getac<br />
Affiliated company Purchases 682,340 2.25% Note 2 〃 Note 2 (101,206) 1.25%<br />
Technology<br />
Corp. and its<br />
subsidiaries<br />
Tyan Computer MiTAC Tyan’s Investeor<br />
Sales 478,594 33.55% Note 4 〃 Note 4 - -<br />
Corp.-USA International<br />
Corp.<br />
company accounted<br />
for under the equity<br />
method<br />
〃 〃 〃 Purchases 1,232,138 86.38% Note 5 〃 Note 5 (11,478) -<br />
Note 1:The collection period is 150 days and 90 days after offsetting certain receivables and payables according to payment terms to overseas and domestic related parties,<br />
respectively. The collection period for regular customers is approximately 90 days after shipping date.<br />
Note 2:The payment period is 150 days and 90 days after offsetting certain receivables and payables according to payment terms to overseas and domestic related parties,<br />
respectively. The payment period to regular supplies is approximately 90 days after purchase date.<br />
Note 3:The selling price to overseas related parties is based on market value. The selling price to domestic related parties is based on common domestic price.<br />
Note 4:The collection period is 150 days after offsetting certain receivables and payables according to payment terms to overseas related parties. The collection period for regular<br />
customers is approximately 90 days after shipping date.<br />
Note 5:The payment period is 150 days after offsetting certain receivables and payables according to payment terms to overseas related parties. The payment period to regular<br />
supplies is approximately 90 days after purchase date.<br />
(9) Receivables from related parties exceeding $100,000 or 20 percent of capital as of December 31, 2009:<br />
Company Name<br />
Silver Star<br />
Developments Ltd.<br />
and its subsidiaries<br />
Name of the<br />
counterparty<br />
MiTAC<br />
International<br />
Corp.<br />
Relationship with<br />
the counterparty<br />
SSDL’s parent<br />
company<br />
Balance of receivables from related party Overdue receivable<br />
Bad debt<br />
Notes / Accounts<br />
Turnover rate<br />
Subsequent<br />
Other receivables <strong>To</strong>tal<br />
Amount Collection method<br />
allowance<br />
receivable<br />
(times)<br />
amount received<br />
provided<br />
$2,998,770 $1,644,764 $4,643,534 3.15 $ - N/A $2,787,623 $ -<br />
~152~
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