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Apendice
8. LONG-TERM LOANS RECEIVABLE
December 31, 2016 December 31, 2015
Current items
cCurrent portion of long-term loans receivable $ 391,122,973 $ 393,589,042
cLess: Allowance for doubtful accounts 9,585,376 ? 9,768,587 ?
cNet $ 381,537,597 $ 383,820,455
Non-current items
cLong-term loans receivable $ 3,192,659,978 $ 3,323,475,568
cLess: Allowance for doubtful accounts 81,903,978 ? 91,775,335 ?
cNet $ 3,110,756,000 $ 3,231,700,233
Total $ 3,492,293,597 $ 3,615,520,688
1) Taiwan ICDF provides long-term loans in accordance with the Regulations for Loans by the International
Cooperation and Development Fund as approved by the Executive Yuan. As of December 31, 2016 and
2015, the total outstanding loans denominated in U.S. dollars, Australia dollars and Euro dollars amounted to
US$70,269,407.37, AU$20,227,983,€20,837,674.52 and US$83,253,293.22, AU$8,728,952.74 and €20,837,674.52,
respectively.
2) Allowances for doubtful accounts were based on the Regulation for Taiwan ICDF Dealings with Past Due/Non-
Performing Loans and Bad Debts.
3) As Parque Industrial Oriente S.A. (PIO) defaulted on the loan extended for the Industrial Park Development Project
in Paraguay amounting to US$11,003,488.32, Taiwan ICDF filed a legal claim against PIO on September 1, 2003.
The court in Ciudad del Este ruled in favor of Taiwan ICDF in the first trial on March 26, 2004. PIO filed an appeal,
which was rejected. Accordingly, it was proposed that the Industrial Park be auctioned off. Under Taiwan ICDF's
51st board resolution, Taiwan ICDF has agreed, under a term of 20 years, for MOFAto repay the remaining loan
balance. Although the MOFAagreed to pay off the remaining balance annually for 3 years beginning 2012 on
December 13, 2012, payments of only US$3,293,162.77 and US$400,000 were made in years 2012 and 2013,
respectively. There were no payments made by MOFA for year 2014. The MOFA stated in a letter dated on April 16,
2014 that installments would resume starting from 2015 through annual budgets, and a payment of US$500,000
was made in year 2015 and 2016. As of December 31, 2015, the MOFA had repaid US$6,793,162.77 and the
remaining balance was US$4,210,325.55.
4) There was no significant past due loan as of December 31, 2016 and 2015.
5) See Appendix 1 for the statement of changes in long-term loans for the year ended December 31, 2016.
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