Friday, October 09, 2015
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Apple Removes Apps From Online Store
PC Shipments Kept Falling In 3Q
Apple Says Battery Tests For iPhone 6s Lineup May Be Misleading
Qualcomm Showcases 24-core Server Chip
AT&T Customers Allowed To Make Calls Over Wi-Fi
Amazon Launches App Developing Platform For IoT
18.4-inch Samsung Galaxy View Tablet Passes FCC Certification
Facebook to Test Emoji Icons
Active Discussions
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
How to burn a backup copy of The Frozen Throne
Help make DVDInfoPro better with dvdinfomantis!!!
Copied dvd's say blank in computer only
menu making
Optiarc AD-7260S review
 Home > News > Optical Storage > CMC, Ri...
Last 7 Days News : SU MO TU WE TH FR SA All News

Saturday, January 15, 2005
CMC, Ritek may suffer drop in the value of assets due to new financial reporting criteria

CMC Magnetics and Ritek, the top two producers of optical discs in Taiwan, may observe a reduction in total value of assets as a result of the enforcement of new accounting and financial reporting criteria on January 1, 2005, according to local stock market analysts.

For assets and liabilities reported, non-operating investment in subsidiaries or other enterprises is valued according to acquisition cost, i.e. using a cost approach, according to old accounting and financial reporting criteria. However, the new criteria require that the value of non-operating investments and intangible assets not exceed market value (as measured by stock prices or sale prices), equivalent to valuation based on a market approach, the analysts pointed out. In many cases, market value is less than the original acquisition cost, the analysts indicated.

The enforcement of the new criteria will require most companies to reassess their asset value, the analysts noted. This could have a seriously negative impact on CMC and Ritek, as both have large portions of their asset value based on non-operating investment in many subsidiaries, of which most still suffer operating losses, the analysts said.

According to estimates by institutional investors in the local stock market, Ritek will suffer a reduction of at least NT$1.5 billion in its asset value after reassessment, while CMC will lose around NT$1 billion.

The Inventor of the Blue LED Settles His Lawsuit Against His Former Employer        All News        TDK Launches WORM type LTO Ultrium 3 Data Cartridge
The Inventor of the Blue LED Settles His Lawsuit Against His Former Employer     Optical Storage News      TDK Launches WORM type LTO Ultrium 3 Data Cartridge

Source Link Get RSS feed Easy Print E-Mail this Message

Related News
Ritek Releases New BD-R DL 6X Discs
RiDATA M-Disc DVD-Rs Now Available
Ritek Blu-ray M-Disc Available In August
RITEK Launched Recordable Permanent Storage - M-DISC DVD
Taiwanese Optical Disc Makers To Diversify Their Production
CMC Magnetics Showcases BDXL Discs At CES
RITEK To Showcase BDXL Blu-Ray Discs in Computex
Ritek And CMC Receive To Benefit From Moser Baer Finacial Troubles
RITEK Launches Capless USB 3.0 Flash Drive
CMC Magnetics Certified For 6x BD-R DL Manufacturing
RITEK USB3.0 Storage Products Launched at Computex Taipei
Ritek Certified For 4x BD-R DL Production

Most Popular News
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2015 - All rights reserved -
Privacy policy - Contact Us .