83
1) The TaiwanICDF engaged the European Bank for Reconstruction and Development (EBRD) to manage the Financial
Intermediary Investment Special Fund (FIISF)-Small Business Account and to jointly provide funds for investments
and loans in small businesses. Under the agreement, the total investment amount was US$10,000,000, and the
TaiwanICDF invested US$10,000,000 as of December 31, 2012 and 2011, respectively.
2) The TaiwanICDF engaged the EBRD to manage the FIISF-Trade Facilitation Programme to provide trade finance
guarantees and loan facilities for local banks. Under the contract, the TaiwanICDF invested US$5,000,000 as of
December 31, 2012 and 2011. This programme had been terminated on December 13, 2009. However, there are
still some guarantee commitments that have not yet expired. EBRD will settle the programme account and return the
investment amount to the TaiwanICDF after all guarantee commitments have expired. However, the TaiwanICDF bases
on conservative principle to recognize impairment loss of NT$161,750,000 in 2009.
3) The TaiwanICDF commissioned the Multilateral Investment Fund (MIF), which belongs to the Inter-American
Development Bank Group, to manage the Specialized Financial Intermediary Development Fund, a financing vehicle
co-established by the said two parties. MIF uses resources of its own and the fund’s on a pari-passu basis to directly
or indirectly invest in, or make loans to well-performing microfinance institutions in Taiwan’s partner countries in
Central and South America. As of December 31, 2012 and 2011, the TaiwanICDF’s accumulated contribution to the
fund amounted to US$15,000,000.
4) The TaiwanICDF engaged the EBRD to manage the FIISF-Small Business Account
Ⅱ
and to jointly provide funds for
investments and loans in small businesses. Under the agreement, the total investment amount was US$10,000,000,
and the TaiwanICDF invested US$10,000,000 as of December 31, 2012 and 2011, respectively.
5) The TaiwanICDF engaged the EBRD to manage the FIISF-Small Business Account
Ⅲ
and to jointly provide funds for
investments and loans in small businesses. Under the agreement, the total investment amount was US$20,000,000,
and the TaiwanICDF invested US$8,000,000 as of December 31, 2012.
6) The above listed foreign currency investments projects are stated using the historical exchange rate.
7) See Appendix 2 for the statement of changes in financial assets carried at cost for the year ended December 31,
2012.
9. FIXED ASSETS
December 31, 2012
Cost
Accumulated
Depreciation
Net Book Value
Mechanical Equipment
$31,653,238
$19,240,806
$12,412,432
Communication & transportation equipment
2,643,315
1,421,046
1,222,269
Miscellaneous equipment
4,230,072
2,607,438
1,622,634
Leasehold improvements
1,976,268
1,082,199
894,069
$40,502,893
$24,351,489
$16,151,404
December 31, 2011
Cost
Accumulated
Depreciation
Net Book Value
Mechanical Equipment
$29,069,067
$16,292,044
$12,777,023
Communication & transportation equipment
2,707,475
1,278,565
1,428,910
Miscellaneous equipment
4,112,559
2,448,898
1,663,661
Leasehold improvements
1,976,268
752,835
1,223,433
$37,865,369
$20,772,342
$17,093,027
See Appendix 3 for the statement of changes in fixed assets for the year ended December 31, 2012.
10. PAYABLES
December 31, 2012
December 31, 2011
Accrued expenses
$41,280,720
$49,977,936
Retained money payable on completed projects
106,690,990
86,246,487
$147,971,710
$136,224,423
