Letter To Shareholders - Mitac

2) Significant related party transactions and balances
A. Purchases (including process expenditures)
For the years ended December 31, 2009 and 2008, the Company had purchases from
related parties amounting to $4,065,089 and $4,101,975, respectively.
The purchase price to related parties is based on market value. 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, respectively. The payment
period to regular suppliers is approximately 90 days after purchase date.
B. Sales
2009 2008
SYNNEX and its subsidiaries $ 10,428,687 $ 8,423,052
Others 549,121 1,235,341
$ 10,977,808 $ 9,658,393
The selling price to related parties is based on market value. The collection period is
150 days and 90 days after offsetting certain receivables and payables according to
collection terms to overseas and domestic related parties, respectively. The collection
period for regular customers is approximately 90 days after shipping date.
C. Accounts and notes receivable
December 31,
Notes receivable- 2009 2008
MiTAC Inc. $ 200,000 $ 264
Others - 152
$ 200,000 $ 416
Long- term notes receivable-
MiTAC Inc. $ 197,650 $ -
December 31,
Accounts receivable- 2009 2008
SYNNEX and its subsidiaries $ 2,495,230 $ 2,879,557
Others 152,062 191,642
$ 2,647,292 $ 3,071,199
D. Other receivables
December 31,
2009 2008
GTC and its subsidiaries $ 80,529 $ 66,314
SYNNEX and its subsidiaries 76 35,061
Others 16,463 2,172
$ 97,068 $ 103,547
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