Letter To Shareholders - Mitac
Letter To Shareholders - Mitac
Letter To Shareholders - Mitac
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(8) Receivables from related parties exceeding $100,000 or 20 percent of capital as of December 31, 2009:<br />
Company Name<br />
MiTAC<br />
International Corp.<br />
〃<br />
〃<br />
〃<br />
〃<br />
〃<br />
〃<br />
Name of the<br />
counterparty<br />
Synnex Corporation<br />
Synnex<br />
Corporation(UK)<br />
MiTAC Logistics<br />
Corporation<br />
MiTAC Digital<br />
Corporation<br />
Mio Technology UK<br />
LTd.<br />
Mio Technology<br />
Benelux N.V.<br />
MiTAC Australia Pty<br />
Ltd.<br />
Relationship with the<br />
counterparty<br />
Indirect investee<br />
company accounted<br />
for under the equity<br />
method.<br />
Balance of receivable from related party Overdue receivables<br />
Notes/Accounts<br />
receivable<br />
Other<br />
receivables<br />
<strong>To</strong>tal<br />
Turnover rate<br />
(times)<br />
Amount<br />
Collection<br />
method<br />
Subsequent<br />
received amount<br />
Bad debts allowance<br />
provided<br />
$1,787,493 $ - $1,787,493 4.72 $ - N/A $ 1,682,107 $ -<br />
〃 659,873 - 659,873 2.22 - N/A 345,718 -<br />
〃 1,123,386 19,932 1,143,318 3.71 - N/A 950,371 -<br />
〃 3,370,378 29,023 3,399,401 2.20 - N/A 1,221,131 -<br />
〃 623,765 465 624,230 2.53 - N/A 198,086 -<br />
〃 134,319 - 134,319 6.53 - N/A 92,200 -<br />
〃 725,893 14,011 739,904 1.70 - N/A 727,525 -<br />
(9) Information on derivative transactions.<br />
(a) Purpose: Derivative financial instruments are undertaken for non-trading purposes and to hedge the fluctuation of exchange rate of foreign currency denominated assets<br />
and liabilities.<br />
(b) <strong>To</strong> hedge existing assets denominated in foreign currencies:<br />
December 31, 2009<br />
Contract Terms<br />
Item<br />
Notional Amount Fair Market Value<br />
(in thousands)<br />
Trade date Strike Rate Settlement Date<br />
Sales forward Foreign exchange USD 60,000 NTD 7,762 2009.9.29~2009.12.2 32.095~32.483 2010.1.4~2010.3.8<br />
″ EUR 13,700 NTD 12,586 2009.10.21~2009.12.28 46.138~48.775 2010.1.4~2010.3.29<br />
″ AUD 18,650 NTD 1,669 2009.10.6~2009.12.31 28.392~30.049 2010.1.4~2010.3.31<br />
″ NZD 400 ( NTD 10) 2009.12.31 23.36 2010.1.29<br />
″ GBP 4,390 NTD 2,386 2009.10.5~2009.12.29 51.735~54.042 2010.1.4~2010.3.29<br />
Purchase of forward foreign exchange USD 25,000 ( NTD 5,203) 2009.11.12~2009.12.3 31.783~32.197 2010.2.4~2010.3.4<br />
″ JPY 80,000 ( NTD 819) 2009.11.12~2009.11.18 0.3599~0.3615 2010.1.19~2010.1.20<br />
Purchase of currency SWAP USD 5,000 NTD 1,900 2009.11.13 32.412 2010.1.15<br />
~145~