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17. PERSONNEL EXPENSES, DEPRECIATION AND AMORTIZATION
For the years ended
December 31, 2014
For the years ended
December 31, 2013
Personnel expenses
Salaries
$ 130,746,288
$ 117,642,581
Labor and health insurance
11,179,002
11,482,370
Pension
10,769,383
10,246,497
Others
3,651,338
3,274,559
$ 156,346,011
$ 142,646,007
Depreciation
$ 3,892,215
$ 3,873,530
Amortization
$ 778,405
$ 1,245,510
18. PLEDGED ASSETS
The TaiwanICDF's assets pledged as collateral as of December 31, 2014 and 2013 are as follows:
Book Value
Pledged asset
2014
2013
Purpose
Other financial assets-current
$ -
$ 932,897
Tender security
19. COMMITMENTS AND CONTINGENCIES
1) Pursuant to the Regulations for Loans by the International Cooperation and Development Fund, the loan amount
in U.S. dollars under the loan agreements entered into by the TaiwanICDF amounted to US$192,839,063.81 and
US$235,271,488.80 as of December 31, 2014 and 2013, respectively. The total amount of loans drawn down
amounted to US$180,151,084.23 and US$221,306,635.12, and the undisbursed committed balance amounted to
US$12,687,979.58 and US$13,964,853.68 as of December 31, 2014 and 2013, respectively. Additionally, the loan
amount in Euro dollars amounted to €56,553,755.54 as of December 31, 2014 and 2013. The total amount of loans
drawn down amounted to €20,837,674.52, and the undisbursed committed balance amounted to €35,716,081.02
as of December 31, 2014 and 2013. Moreover, the loan amount in Australia dollars amounted to AU$20,227,983 as
of December 31, 2014. The total amount of loans drawn down amounted to AU$3,068,404.07 and the undisbursed
committed balance amounted to AU$17,159,578.93.
2) Pursuant to the Regulations for Investments by the International Cooperation and Development Fund, the
committed amounts denominated in U.S. dollars under the outstanding contracts entered into by the TaiwanICDF
amounted to US$60,000,000 and US$65,000,000, of which US$59,168,366 and US$58,132,652 had been invested
as of December 31, 2014 and 2013, respectively. The amount committed but not yet disbursed was US$831,634
and US$6,867,348 as of December 31, 2014 and 2013, respectively. Additionally, the committed amounts
denominated in NT dollars under the outstanding investment agreement entered into by the TaiwanICDF has been
fully disbursed, with the balance of NT$130,000,000 as of December 31, 2014 and 2013.
3) The TaiwanICDF had entered into a lease agreement with the MOFA to lease state-owned real estate properties. As
per the lease agreement, the lease period is from October 1, 2010 to September 30, 2015 with the rents charged
on a monthly basis. The rents are calculated as follows:
A. Land: 3% of the most recent official land price per square meter multiplied by the rental area and divided by 12.
B. Building: 10% of the current taxable building value divided by 12.