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Borrowings
 12 Months Ended
Dec. 31, 2018
Text block [abstract]  
Borrowings
21. BORROWINGS

 

a. Short-term borrowings

 

Bank loans

 

Short-term borrowings mainly represented unsecured revolving bank loans with annual interest rates at 0.80%-4.79% and 0.76%-5.10% as of December 31, 2017 and 2018, respectively.

 

b. Long-term borrowings

 

1) Bank loans

 

    December 31
    2017   2018
    NT$   NT$   US$ (Note 4)
             
Working capital bank loans            
Syndicated bank loans - repayable through May 2019 to May 2023, annual interest rates were 2.61% -2.70% and 1.80% as of December 31, 2017 and 2018, respectively   $ 4,761,600     $ 55,000,000     $ 1,796,798  
Others - repayable through February 2019 to October 2023, annual interest rates were 0.93%-2.10% and 0.75%-3.77% as of December 31, 2017 and 2018, respectively     23,941,947       75,533,354       2,467,604  
Mortgage loans                        
Repayable through July 2019 to June 2023, annual interest rates were 4.95%-5.39% and 5.39% as of December 31, 2017 and 2018     4,705,149       4,393,826       143,542  
      33,408,696       134,927,180       4,407,944  
Less: unamortized arrangement fee     1,200       128,083       4,184  
      33,407,496       134,799,097       4,403,760  
Less: current portion     8,261,625       10,779,034       352,141  
                         
    $ 25,145,871     $ 124,020,063     $ 4,051,619  

Pursuant to some of the above working capital bank loans agreements, the Company and its subsidiaries should maintain certain financial covenants including current ratio, leverage ratio, tangible net assets and interest coverage ratio. Such financial ratios are calculated based on each of their annual audited consolidated financial statements or semi-annual reviewed consolidated financial statements. The Company and its subsidiaries were in compliance with all of the financial covenants as of December 31, 2017 and 2018.

 

2) Long-term bills payable

 

    December 31
    2017   2018
    NT$   NT$   US$ (Note 4)
             
China Bills Finance Corporation, repayable in February 2020, annual interest rate were 0.96% and 0.99% as of December 31, 2017 and 2018, respectively   $ 1,000,000     $ 1,000,000     $ 32,669  
International Bills Finance Corporation, repayable in March 2020, annual interest rate were 0.96% and %1.00% as of December 31, 2017 and 2018, respectively     1,000,000       1,000,000       32,669  
Ta Ching Bills Finance Corporation, repayable in January 2020, annual interest rates was 0.98% as of December 31, 2018     -         1,100,000       35,936  
      2,000,000       3,100,000       101,274  
Less: unamortized discounts     868       768       25  
                         
    $ 1,999,132     $ 3,099,232     $ 101,249