Asus 2008 Annual Report Download - page 183
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179
ASUSTEK COMPUTER INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements
(In thousands of New Taiwan dollars unless otherwise stated)
(2) Since Askey Computer Corp. was the guarantor for the USD 50,000 thousand
syndicated loan of Double Tech Ltd. and Leading Profit Co., Ltd. for the years ended
December 31, 2008 and 2007, Askey Computer Corp. must comply with the following
financial covenants throughout the terms of the above syndicated loan agreement
managed by Taipei Fubon Bank (2006/11/1~2009/11/1):
Debt ratio ((total liabilities+contingent liabilities)/tangible net assets): should not be
higher than 300%;
Interest coverage ratio (EBITDA/interest expenses): should be no less than 150%;
Tangible net assets: should not be less than $5 billion.
The above financial covenants are examined every six-month based on the consolidated
semi-annual and annual financial statements of Askey Computer Corp..
(3) Since Askey Computer Corp. was the guarantor for the USD 30,000 thousand loan of
ASKEY TECHNOLOGY (JIANGSU) LTD., Askey Computer Corp. must comply with
the following financial covenants throughout the terms of the above loan agreement
managed by Mega International Commercial Bank (2008/4/7~2011/4/7):
Debt ratio ((total liabilities+contingent liabilities)/tangible net assets): should not be
higher than 300%;
Interest coverage ratio (EBITDA/interest expenses): should be no less than 150%;
Tangible net assets: should not be less than $5 billion;
Accounts receivable: should entrust no less than USD 30,000 thousand to the bank to
collect;
Percentage of the direct and indirect ownership in the debtor: should be 100%;
Total percentage of the direct and indirect ownership in the Askey Computer Corp.
of ASUSTeK Computer Inc., PEGATRON CORPORATION and UNIHAN
CORPORATION: should be no less than 67%.
The above financial covenants are examined every six-month based on the consolidated
semi-annual and annual financial statements of Askey Computer Corp. and anytime the
bank considers necessary.