Asus 2015 Annual Report Download - page 202
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198
Under the borrowing contracts, the Company’s subsidiaries who signed the contracts are required
to maintain certain covenants semi-annually agreed by both sides, and the bank can inspect at any
time when necessary. As of December 31, 2015 and 2014, the Company’s subsidiaries who signed
the contracts did not violate any of the covenants specified in the contract.
(16) Pensions
A. Defined benefit pension plans
(A) The Company and its domestic subsidiaries have a defined benefit pension plan in
accordance with the Labor Standards Law, covering all regular employees’ service years
prior to the enforcement of the Labor Pension Act on July 1, 2005 and service years
thereafter of employees who chose to continue to be subject to the pension mechanism
under the Law. Under the defined benefit pension plan, two units are accrued for each
year of service for the first 15 years and one unit for each additional year thereafter,
subject to a maximum of 45 units. Pension benefits are based on the number of units
accrued and the average monthly salaries and wages of the last 6 months prior to
retirement. The Company and its domestic subsidiaries contributes monthly an amount
equal to 2% of the employees’ monthly salaries and wages to the retirement fund
deposited with Bank of Taiwan, the trustee, under the name of the independent retirement
fund committee. Also, the Company and its domestic subsidiaries would assess the
Borrowing period and Interest rate
Type of borrowings repayment term range Collateral 2014/12/31
Credit borrowings -
installment-repayment
Mega International 2012.08~2015.08, 2.00%~ - 633,000$
Commercial Bank payable in 3 semi-annual 2.61%
installments, commencing
2 years after the initial
date of borrowing
Mega International 2014.10~2016.10, 1.67% - 316,500
Commercial Bank payable in 2 years,
commencing after the
initial date of borrowing
The Shanghai Commercial 2012.11~2015.11, 1.33%~ - 553,875
& Savings Bank payable in 2 semi-annual 1.54%
installments, commencing
2 years after the initial
date of borrowing
Others 2012.05~2017.05 2.42%~ Buildings 87,395
2.47%
1,590,770
Less: current portion of 1,189,799)(
long-term borrowings
400,971$