Microsoft Word - 01.1050428-3 1-159


1.
95 118




12,000,000 1.18% 556,600,000 54.63% 316,000,000 31.02% 86,000,000 8.44% 68,171,840 6.69% (20,000,000) (1.96)% 1,018,771,840 100.00%


www.skbank.com.tw

www.megabank.com.tw


www.jihsun.com.tw




www.deloitte.com.tw (02)2545-9988

www.felo.com.tw (02)2392-8811

(02)2299-1066 (02)2299-1066 fnc@ttcc.com.tw alan@ttcc.com.tw
http://www.ttcc.com.tw

1,018.8 12 3 (02)2299-1066 70 12 21 http : // www.ttcc.com.tw 100 09 19 88 05 29


(02)2541-9977 www.jihsun.com.tw 85 7
(02)2325-5818 www.masterlink.com.tw 97 22

156 12




104 06 22 104 06 22
27.72% (105 04 26 ) 0.81%105 04 26
10105 04 26

8.66% 0.81%

19.04%
0.02%
(02)2299-1066
(03)272-9010
64% 36%
4-11
1 0 4 1,596,605 (60,020) 0.03
123



95-118

............................70
......98
...................................143
............143

.............................................143

() ()
12 3 12 3
10 (02)2299-1066
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()



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CATV (TRUNK)
2


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CNLA 60,000
100%
100%
100%
58%

33.32%
8,000
3

22%








4

54.98% 65%

57.72%

100%
UNION MERTO TRADING LTD. PT. TAI TUNG SOLUTION


(28,567) (18,897) (7,346) 5,308 (1.79%) (0.92%) 47.60% (26.20%) (0.46) 0.26% 12.24% 7.36%
A.

5
104 12 31 103 12 31



104 103 5,901
4,510
()
104 12 31 103 12 31
$ 41,819 $ 39,911 177,700 225,611 48,869 41 - 2,254 54,851 50,545 2,348 1,676 25,233 - 2,081 2,231 418 105

1% 1%


104 103 104 103
( $ 108) ( $ 88) $ 1,440 $ 1,863
C. 104

B.
7
--


615,000 c. UNION METRO TRADING LTD.

9,000 --

UNION METRO TRADING LTD. 3,000
C.
(FTB8-B) CCTV WIFI
AG BOX NT 20 105

800*600

NT 67
(2)

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IPv6 IPv6

F.
102 IFRS
104 235 2
4 235 1

105 3 18 105 3 14 105
5.

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103 11 24 4G 4G
4G

4
(2)

100Mbps300Mbps 1000Mbps FTTH

(3)

6.
(2) (104)CB

6539 9753




3.

12






OSP


13
100 %
97 %
PT. TAI TUNG SOLUTION 104
2.








105 4 26


101.03.06 8,819,116 8.66% 756,000 0.74% - -
()

- - -
() ()
()



- - -

Anewtech Systems ()

()

16
1.() 105 4 26





70.12.21 104.06.22 3 8,819,116 8.49% 8,819,116 8.66% 756,000 0.74% - -
()
SING TUNG TECHNOLOGIES PTE. LTD.



- - -

96.06.27 104.06.22 3 - - - - 51,000 0.05% - -
Anewtech Systems






101.05.24 104.06.22 3 4,520 0.00% NA NA NA NA NA NA
() () () ()
NA
IBM HP ()
()
()

()
- - - - - - -




() ()

19
3. 4.



( 1)


1 2 3 4 5 6 7 8 9 10
- - - - - - - - -
(1)
(3)
(6)
(7)

20
105.04.26
2.




ABCDE F G






- - - - - - 48 60 1.35 1.69 2,424 6,546 - - 2 - 2 - - - - - 69.84 186.54

()( 1) - - - - - - - - - - - - - - - - - - - - - - - - ( 2) - - - - - - 48 63 1.35 1.78 1,564 1,618 46 46 2 - 2 - - - - - 46.85 48.80 ( 2) - - - - - - - - - - - - - - - - - - - - - - - -

() ( 3)
240 360 - - 210 210 180 207 17.78 21.93 1,143 1,143 53 53 2 - 2 - - - - - 51.59 55.74

2 105.04.26
3 104.06.22
4 104.08.15
22



A+B+C+D A+B+C+D+E+F+G

2,000,000
() 1 2 2() 3 3 4 3
() 1 2 2() 3 3 4 3
() 1 2 2 () 3 3 4 3
() 1 2 2 () 3 3 4 3
2,000,000 5,000,000 - - -
5,000,000 10,000,000 - - -
10,000,000 15,000,000 - - - -
15,000,000 30,000,000 - - - -
30,000,000 50,000,000 - - - -
50,000,000 100,000,000 - - - -
100,000,000 - - - -
12 12 12 12
1 104.03.16 10481543110 () 2 105.04.26 3 104.06.22 4 104.08.15
23
2.


2,000,000 5,000,000 - -
5,000,000 10,000,000 - -
10,000,000 15,000,000 - -
15,000,000 30,000,000 - -
30,000,000 50,000,000 - -
50,000,000 100,000,000 - -
100,000,000 - -





10,000,000 15,000,000 - -
15,000,000 30,000,000 - -
30,000,000 50,000,000 - -
50,000,000 100,000,000 - -
100,000,000 - -



2,488 2.06 5,644 4.66 2,426 68.47 6,548 184.82
(2)


26
105 3 18 1% 2%


105 3 18 105






101,877,184 48,122,816 150,000,000


100/09/28 10 70,000,000 700,000 69,060,000 690,600 63,600 10001225000
1
102/02/08 10 100,000,000 1,000,000 79,060,000 790,600 100,000 10201027930
2
103/04/30 10 100,000,000 1,000,000 87,060,000 870,600 80,000 10301078260
3
103/07/31 10 100,000,000 1,000,000 92,368,421 923,684 53,084 1031153050

103/10/27 10 100,000,000 1,000,000 93,602,387 936,024 12,340 10301220160

27
104/01/28 10 100,000,000 1,000,000 93,694,247 936,942 918 10401015630

104/03/11 10 150,000,000 1,500,000 103,694,247 1,036,942 100,000 10401044250
4
104/05/08 10 150,000,000 1,500,000 103,874,532 1,038,745 1,803 10401079370
104/05/25 10 150,000,000 1,500,000 103,877,184 1,038,771 26 10401092840
104/07/29 10 150,000,000 1,500,000 101,877,184 1,018,771 20,000
10401154180
1 100 8 3 1000036057 2 101 11 23 1010052701 3 103 1 20 1020053405 4 104 1 6 1030052169
2.

1. 105 4 9


2.

1 999 6,355 425,508 0.42% 1,000 5,000 7,461 16,206,583 15.91% 5,001 10,000 1,340 10,450,361 10.26%
10,001 15,000 430 5,354,982 5.26% 15,001 20,000 248 4,564,297 4.48% 20,001 30,000 233 5,770,431 5.66% 30,001 40,000 99 3,540,104 3.47% 40,001 50,000 64 2,923,586 2.87% 50,001 100,000 103 7,302,858 7.17%
100,001 200,000 44 6,499,580 6.38% 200,001 400,000 11 2,935,621 2.88% 400,001 600,000 2 1,019,025 1.00% 600,001 800,000 2 1,544,082 1.51% 800,001 1,000,000 1 820,206 0.81%
1,000,001 999,999,999 3 32,519,960 31.92% 16,396 101,877,184 100.00%
28


19,397,278 19.04% 8,819,116 8.66% 4,303,566 4.22% 820,206 0.81% 788,082 0.77% 756,000 0.74% 545,616 0.54% 473,409 0.46% 360,873 0.35% 325,000 0.32%
4.
(1)

105
1,882,729 5,000,000 1,321,000 8,400,000 - -
( 2) - - - - - -
(306,668) - 23,264 - NA NA
( 5) NA NA - - - -
- - - - - -
( 5) NA NA - - - -
57,856 - - - -
105
( 7) - - - - - -
10,333 - (1,000)
( 7) - - - - - -
( 6) NA NA NA NA - -
1,255,000 - (1,155,000) 100,000 - (100,000)
( 6) NA NA NA NA - -
( 1) 1,882,729 5,000,000 1,321,000 8,400,000 - -
- - - 4,800,000 - -
1 104.03.16 10481543110 () 105.04.26 2 103.12.10 104.06.22 3 104.06.21 4 103.07.07 104.06.22 104.08.15 5 104.06.22 6 105.03.18 7 105.04.25 8 104.02.17
(2)



1,300,000
31




()
() ()
8,819,116 8.66% 756,000 0.74% - -
()
- ()
()
-
51,000 0.05% - - - -
()
32



69.60 47.35 36.90 15.10 47.21 29.31
23.46 23.26 22.35 4

- 4
( 2) 46.30 4
( 3) 0.02 4 1 2 3 4




(2)105 3 18 ( 105 ) 104 5
105 3 18





2.() 105 3 18 104
105
1.



(2)105 3 18 ( 105 ) 104 5
105 3 18



2.
105
3.
224 390
105
(2)
5.

103
103
35
104 1

104.05.06104.07.03
33 40

37

/

SOHO 100Mbps300Mpbs 600Mbps 1,000Mbps 1,000Mbps ( 5GB) FTTH(Fiber to the Home IP TV 4K



38
15

AG BOX


OTT OTT VoD
IP TV


WiFi
FTTx FTTH
GPSWLANADSL 2014 8.2 572014 2,000 66
IoT : IT IoT (Internet of Things)IoT : IoT ( )(M2M)
Rio - Tinto(BHP Billiton)(VALE)
--
(Incumbent) NCC 104 10
764 104 10 450 FTTx 332 ( 73%) Hinet 378
MOD 112 MSOMulti System Operator

DOCSIS(Data Over Cable Service Interface Specification)
200Mbps 20Mbps
40
B.

Seednet 20 APOL
7,000
FTTH Council 2015 FTTH/B

2014 FTTH/B
: FTTH Council
2012 ""2015 2
" 2015 "2014 FTTH 8,859 2014
2 2015
41
4,000
94%
1.56 2015 2.01
3.64 55% 17%4G
2015
56.1% 22 8M 20M
69.9%33.4%
Google Fiber
5 50 FTTH 1Gbit/s

1Gbps



FTTH
(

BigData
OracleRevolution Analytics 2 699
4
2020

Council 2015 FTTH FTTB
19% 3600
1500 240 230
1% FTTH
36.8%
36.2% 35.2% 2015
300 i2010 Information Society
FTTH
Belgacom KPN Deutsche Telekom ADSL FTTN/VDSL
(Digital Britain)
2017 90% FTTH


BSN

720


(IPTV)
2,000 2015 100Mbps
80%2020 1Gbps G 4G 2014 4G


2011~2015 RIO Tinto() Cape Lambert 11,300 FMG Solomon 4000
BHP() RGP5RGP6
5 32015 7 2010 70%
VALEMMX SudesteCSN
2015 2.5
IMF (International Monetary Fund
)2014 7 IMF 2015
4.0% 2014 3.4% 2015
2.4% 2014 1.8% 2015
1.5% 2014 1.1% 2015
5.2% 2014 4.6%
2015
44
the Building)FTTC(Fiber to the Curb) FTTH(Fiber to the Home)
B. IP
IP TVAPP
EC C. WiFi hot spot()

WiFi 4G
(2)















OTT


FTTN(Fiber To The Node ) FTTC(Fiber To The Curb )FTTB(Fiber To The Building )FTTH(Fiber To The Home )FTTx
Triple Play ( Video Voice Data) DSL FTTx
SDN(Network Virtualization) 4G LTE (Internet of EverythingIoE) 2020 (Smart City) SDN 2014












46
1 4,521 2013 12.4%
2014 4,321 0.1%
4G



2010 ~2015 2010
1 2,389 2,370 345KV 539 161KV 1,307 69KV 524 2010 2015
--
BCG (Boston Consulting Group)
47
() BCG model ""
Line, Skype….
BCG Model """ last mile" ISP FTTH IP TV






AG BOX


--




4G-LTE MBH
4G-LTE
IPv6 IPv6
NG-PON

49


--

(4) --
%
100 101 102 103 104
7,725 4,380 15,722 17,389 8,372
2,218,299 2,002,841 1,747,628 2,048,366 1,596,605
0.35 0.22 0.90 0.85 0.52
-- 101 01 06 0
(5) --
100





()
--

(2)
--

--


1. (1)
104 64% 36% 104 367 104 9.31 2.54%
103 11 11 105 12 105 3,000 106 15,000 107 30,000 20
52

4G 2016
FTTH/B ()
FTTx
2,0003,000
FTTH/B

4G 5G

53
--
104 11 1,043,434 90
15





A.
2015 4G
2018 2016 2015 8.5% 1 1525 2016
6833 2015 11.4% 59%
B.
720

3 1,200

55

C.

700~1,000
4G
B.
HFC DOCSIS


45 ADSL Cable Modem
IP TV


2. --








FRP
PE
PE( )PE PE PE




PEPE


SOHO 100Mbps300Mpbs600Mbps 1,000Mbps 1,000Mbps ( 5GB) FTTH(Fiber to the Home
IP TV 4K


(2)
)
NCC







2,048,366 1,596,605
1,038,059 84.61 815,822 89.42
1,226,841 100.00 912,322 100.00
104 Golden
104 SUMITOMO
-- 105
61

1 C 410,326 20.03 C 560,538 35.11
2 A 341,228 16.66 B 270,961 16.97
3 B 298,710 14.58
998,102 48.73 765,106 47.92
2,048,366 100.00 1,596,605 100.00
105 C
104 A A
--
:

2 3,171 0.74 - 15,003 2.60 -
427,059 100.00 578,015 100.00


6. --
: KM 103 104
()
551,737 471,167 831,026 572,852 459,756 787,609


62
103 104
363,631 669,064 89,006 359,527 243,384 319,998 214,955 392,748
537 207,857 468 144,812 295 92,432 374 109,754
54 20,825 - - 57 15,834 - -
- 410,326 - - - 561,793 - -
301 25,468 13,085 5,973 356 24,723 343,993 76,421
364,523 1,333,540 102,610 714,826 244,092 1,014,780 559,390 581,825

103
104 103
104 103
--
:
5() 9 - - 215() 1,057 - -
1() 323 2() 2,097
2() 136 - - 4() 2,251 - -
- - - - 1() 21 - -
- - - - 2() 621
427,059 - - 578,015 - -
103 8 25 104
103
63

103 104 105 3 31

38.9 35.0 37.2
3.2 2.5 4.6
(%)
(2)



(1)

87 5 28






1 6
1 6
3 3
1 3
1 6
6
- 6
12
(3)
6% 104 103 9,695 8,670 4,133 4,432
6 2%
6%
(4)
2. (1)
--
67
1.
--





859.05 3,764.11
78/10/01 61,828 30,887 4~6

536.21 317.56

316-1 358.46 85/12/22 93,093 93,093

-- 105 3 31







(ROADM) (DC&POI) (Synchronization System)
1 101.09.25 30,426 - - - -
-
(ROADM) (DC&POI) (Synchronization System)
1 101.09.25 275,632 - - - - - -
IP (IP MAN)
1 101.09.21 26,718 - - - -
-
GPON 1 102.03.11 387,322 - - - - - -
GPON 1 102.03.11 76,299 - - - -
-
-
1 101.09.09 713,167 - - - - - -
1 2 IFRS
68
105 3 31


12 3 (1-3 )
859.05 3,764.11
12 3 1-3
78/10/01 34,368 22,530 292,133



()
12 3 6
495 11 FTB2
12 4 317.56 5
10 4,175.40 128


103 104


550,456 470,102 85.40% 576,961 565,879 453,841 80.20% 611,983
875 726 82.97% 223,676 598 497 83.11% 140,361
56 47 83.93% 16,236 25 19 76.00% 4,665
() 350 292 83.43% 14,153 6,350 5,399 85.02% 30,600
551,737 471,167 85.40% 831,026 572,852 459,756 80.26% 787,609 CATV
--
104 12 31



3,908 144 -
()

(5,726) - -
-

- - - - - -
112,258 - -
(10,581) - -
(104) - -
1 2PT. TAI TUNG SOLUTION 104
70
104 12 31


450 100.00% - - 450 100.00%




UNION METRO TRADING LTD.
50 100.00% - - 50 100.00%

Singtel 104/08/05~106/08/04
Singtel 104/12/18~106/12/17
Singtel 102/06/19~105/06/18


103/04/22~104/04/21


104/10/05~105/10/03

104/12/01~105/11/30

104/12/28~105/12/23

( )

( )
( )
101/10/15~108/10/15
102/03/15~109/03/15
103/05/21~110/05/21
103/06/27~110/06/25

1. 14 5%( ) 2. 3. 5% ()
72
(1)
1. 14 5%( ) 2. 3. 5% ()
(1) 102/03/11~
(Access Network,GPON)
1. 2. (10%) ()
(1) 102/03/11~
(Access Network,GPON)
1. 2. (10%) ()
(B/OSS) (ERP (2)

102/05/08~105/09/30
B/OSS ERP
1. 2. 3. (10%)
(2)

102/05/13~106/05/13
1. ( ) 2. 3. 5% ()
1 2
73
3 (
) 101 1 3 14 ( )

5.1.1
120 8% 104.4.28 10430078900
102 12 31 20%
102.12.30 1 20% 103.05.13
5.1 1 2 2 ( 1 ) 15 104.4.28 10430078900
5.1 15

5.1.2
1 330 32% 1 104.4.28 10430078900
103 9 15 40% 2 3
103.07.31 40% 103.10.13
5.1.1
5.1.3
2 330 56% 2 104.4.28 10430078900
104 1 15 60% 2 3
104.01.15 60% 104.05.29
5.1.1
5.1.4
3 330 80% 3 4 330 4 104.4.28 10430078900
104 10 15 80%
104.10.15 80% 105.03.07
5.1.1
30
102.12.30 1 20% 103.05.13 103.07.31 40% 103.10.13 104.01.15 60% 104.05.29 104.10.15 80% 105.03.07
5.3 1 2 2 ( 1 ) 20

6.1
1 104.4.28 10430078900
6.1.1 1
6.1.2 1 104 1 15
20%
2 104 10 15 60%
3 105 5 25 80%
6.1.3 (Service Level Agreemeet, SLA)
101.9.26 102.2.7 102.4.26 103.7.16 103.10.16 103.12.23 103.11.11 103.12.24 104.2.11 104.9.10 104.4.20 104.9.25 105.5.25
105 7.3
1 1. 9 1% 1 2.5 1% 1 3.
2
1. 85% 1% 1 2. 90% 1% 1 3.
3
1. 8 1% 1 2. 7 1% 1 3.
4 1. 2 1 1 2. 1 1 1 3.
5 1. 99.85% 1% 1 99.90% 0.01% 1 2.
6
7 1999
>6 1 ( )
8
15 >6 1
1. 2 4 5 2. 500 3. 4. 5. 6. 7 1999 Taifo 7. 7 8. 8

76
14.1
30 2 30 a. 1314 b.
101.01.06 2 101.01.20
30

a. 5.1 4 30% b. 5.1 4 3 20% c. 2 2 2 30
( ) 105.03.31 61.30%
14.2 14.2.a 50 14.2.b 100 14.2.c 100

101.01.20


17.1.3

185 1 a. 6
b.
c.
d. a.b.c.


19.6
1 2 2 ( 1 ) 2

6

19.7
30

78
3 ( )
180 30 30
101.09.26 102.02.07 102.04.26 103.07.16

3 ( )
1 2 2 8 3 14 4 20 7
104 20
3 2 5

100% 7
3 3 2

79
3 ( )
70% 50% 7
3 4 2

101.06.18
3 5 1 5 60

1. 5.1 4 30%
2. 5.1 4 3 20%
3. 2
4. 2
5. 2
6. 30
( ) 105.03.31 61.30%
5 1 50 200

80
5 ( )
1.
2. 5 2 1

1.
2. 30
3. 6 1 1


6 ( )


101 102103 101
1. (1)101 11 23 1010052701 (2) 330,000 (3) 10,000 10
33 330,000 (4)

330,000 330,000



226,044 102 101 12 102 1 530,000 102 4 43,900 102 10 317,916 ( 182,144 135,772 )
226,044
95 100 12 101 1 101
25 ( 100 12 125 12 )103 125 8,676,300 70% 30% 10% 16,721,449 (WACC) 4.45% 6,082,222 11.27% 13 WACC=*(1-)*+*
=0.7*(1-0.17)*2.5%+0.3*10%=4.45% 13


84
102 101 9 38.61% 32.30%
102 1 1.71% 2,120

(2)

101 62,615


()


101 0 94,418 (94,418) 0 (94,418) (94,418) (66,829) (0.85) 0 62,615 (62,615) 5 (61,685) (61,685) (47,165) (0.68)
(%) 0 (33.68) (33.68) - (34.67) (34.67) (29.42) (20.00)
102 0 226,226 (226,226) 0 (226,226) (226,226) (160,123) (2.03) 173,020 269,768 (96,748) 20,759 (113,929) (113,929) (52,173) (0.66) (%) - 19.25 (57.23) - (49.64) (49.64) (67.42) (67.49)
103 412,572 511,638 (99,066) - (99,066) (99,066) (70,119) (0.89) 427,059 607,621 (180,562) 36,675 (215,903) (215,903) (129,910) (1.39) (%) 3.51 18.76 82.26 - 117.94 117.94 85.27 56.18
104 1,285,643 854,018 431,625 0 431,625 429,599 304,070 3.85 578,015 733,268 (155,253) 41,456 (188,075) (187,975) (112,258) (1.10)
(%) (55.04) (14.14) (135.97) - (143.57) (143.76) (136.92) (128.57)
85
94,418 33.68% NCC 32,292
101 - 47,165 66,829 29.42%
101 - 0.68 0.85 20%
101 5
b.102
102 173,020 0 173,020 101 1 101 7 30 NCC 102 4 10 102 (IFRS) 100ROC GAAP ROC GAAP 102 (IFRS)
102 269,768
226,226 19.25% 102 (IFRS) 100 ROC GAAP ROC GAAP 168,045 102 8 38,997 13,254 40,603 12,000

- 102 - 52,173
160,123 67.42%
86
c.103
103 427,059 412,572 14,487 102 (IFRS) 103 423,888 103 11 3,171
103 607,621
511,638 95,983 102 (IFRS) 103 411,700 103 11 195,921 511,638 315,717

103 13,815 22,581 279
- 103 - 129,910
70,119 59,791 102 (IFRS) 103 - 1.39 0.89 56.18%
d.104
104 578,015 1,285,643 707,628
87
854,018 120,750 102 (IFRS) 104 550,081 104 104 183,187 854,018 670,831

104 13,630 27,678 148
- 104 - 112,258
304,070 416,328 102 (IFRS) 103 11 104 104 - 1.10 3.85 128.57%


(%) 38.61 32.30 31.21
(%) 230.96 279.23 447.18
(%) 139.93 190.04 306.76
101 38.61% 102 31.21% 32.30%
88
101 230.96% 102 447.18% 101 139.93% 102 306.76% 279.23% 190.04% 101 102 102 1 102 101 12 102 1 530,000 226,044 376.33% 235.91%
102
1. (1)103 1 20 1020053405 10200534051
(2) 548,000 (3)
8,000 10 33.5 268,000
2,800 100 280,000
(4)
103 256,772 - 256,772
548,000 548,000 2.

548,000
100.00
100.00
3. (1)--
25 ( 100 12 125 12 )103 125 8,631,962 70%30% 16,466,694 (WACC) 4.92% 5,699,396
89
12.17% 12 WACC =*(1-) *+*
=0.7*(1-0.17) *3.3% +0.3*10%=4.92%

102 122,076 212,718 (90,642) 22,197 (107,743) (107,743) (56,964) (0.72) 103 1,138,068 1,279,759 (141,691) 37,557 (175,070) (175,070) (92,560) (1.06) 104 2,623,485 2,192,882 430,603 91,740 341,201 341,201 180,393 2.07 105 2,863,155 1,892,871 970,284 170,940 799,924 664,497 351,320 4.04 106 2,986,147 2,530,359 455,788 181,500 275,418 228,597 120,859 1.39 107 2,726,196 1,719,247 1,006,949 244,200 763,138 633,405 334,881 3.85 108 2,749,315 1,740,931 1,008,384 168,300 841,161 698,164 369,119 4.24 109 2,773,020 1,726,526 1,046,494 178,200 869,481 721,669 381,546 4.38 110 2,799,336 1,749,250 1,050,086 99,000 952,313 790,420 417,895 4.80 111 2,820,674 1,771,388 1,049,286 115,500 935,130 776,158 410,355 4.71 112 2,843,885 1,794,528 1,049,357 49,500 1,001,176 830,976 439,337 5.05
1102 79,060
2103 112 87,060
(2)

102 173,020


103
104
90
b. 102 269,768
212,718 57,050 102 (IFRS) 102 168,045 118,269 49,776
B.103 a.
b. 103 607,621
1,279,759 672,138 102 (IFRS) 103 411,700 1,011,038 599,338 103 11 195,921 268,721 72,800
c. 103 215,903
175,070 40,833 a b 103 11
91
103 427,059 1,138,068 711,009 103 607,621 1,279,759 672,138 38,871
d.- 103 - 129,910
92,560 37,350 103 - 1.39 1.06 31.13% 102 103
C.104 a.
b. 104 733,268
2,192,882 1,459,614 102 (IFRS) 104 550,081 1,299,379 749,298 103 11 104 104 183,187 893,503 710,316
c. 104 155,253
188,075 187,975 430,603 341,201 341,201 585,856 529,276 529,176
92
a b 104 578,015 2,623,485 2,045,470 104 733,268 2,192,882 1,459,614 585,856
d. 104 41,456
91,740 50,284
e.- 104 - 112,258
180,393 292,651 104 - 1.10 2.07 153.14% 102 103 103 104
103
1. (1)104 01 06 1030052169 (2) 380,000 (3) 10,000 10
38 380,000 (4)

380,000 380,000
93
104 25 ( 100 12 125 12
)103 125 8,574,309 70%30% 15,639,787 (WACC) 4.92% 5,065,406 11.28% 113 WACC =*(1-) *+*
=0.7*(1-0.17) *3.3% +0.3*10%=4.92%

103 413,285 582,303 (169,018) 38,148 (202,537) (202,537) (116,904) (1.25) 104 1,395,950 1,617,057 (221,107) 49,500 (268,207) (268,207) (154,809) (1.49) 105 1,762,816 1,520,856 241,960 151,789 90,721 90,721 52,364 0.51 106 3,676,011 3,056,377 619,634 196,874 422,914 422,914 244,106 2.36 107 2,726,196 1,707,695 1,018,501 244,200 775,020 665,830 384,317 3.71 108 2,749,315 1,729,146 1,020,169 168,300 853,001 707,991 408,652 3.94 109 2,773,020 1,714,504 1,058,516 178,200 881,520 731,662 422,315 4.08 110 2,799,336 1,736,989 1,062,347 145,200 918,391 762,265 439,979 4.25 111 2,820,674 1,758,880 1,061,794 115,500 947,590 786,500 453,968 4.38 112 2,843,885 1,781,771 1,062,114 49,500 1,013,951 841,579 485,759 4.69 113 2,865,761 1,804,924 1,060,837 59,400 1,002,868 832,380 480,450 4.64
1103 103 11 93,629
2104 113 103,629
(2)
104 6 10() 6 15( ) 361,532 201,306
380,000


94
104
1,395,950 1,617,057 (221,107) 49,500 (268,207) (268,207) (154,809) (1.49)
578,015 733,268 (155,253) 41,456 (188,075) (187,975) (112,258) (1.10)
(%) (58.59) (54.65) (29.78) (16.25) (29.88) (29.91) (27.49) (26.17)
1103 103 11 93,629 2104 103,629

A.103 a.-
103 - 129,910 116,904 13,006 103 - 1.39 1.25 11.20% 102 103
B.104
1,395,950 817,935 102 (IFRS) 104 563,012 1,269,655 706,643 103 11 104 104 15,003 126,295 111,292
b. 104 733,268
1,617,057 883,789 102 (IFRS) 104 550,081 1,233,148 683,067 103 11 104 104 183,187 383,909 200,722
c.
95
104 155,253 188,075 187,975 221,107 268,207 268,207 65,854 80,132 80,232 a b 104578,0151,395,950 817,935 104 733,268 1,617,057 883,789 65,854
d. 104 41,456
49,500 8,044
e.- 104 - 112,258
154,809 42,551 104 - 1.10 1.49 26.17% 102 103 103 104

(1) 1,500 100 150,000
(2) 1,500 100 150,000
3.

300,000 300,000
300,000 220,000 105 105
25 ( 100 12 125 12
96
)103 125 9,010,935 65%35% 14,518,596 (WACC) 5.28% 3,800,747 10.11% 115 WACC =*(1-) *+*
=0.65*(1-0.17) *3.3% +0.35*10%=5.28%
        ( 101 ~125 )
() % 55,559,463 100.00% 36,464,868 65.63% 19,094,595 34.37% 1,645,194 2.96% 17,492,162 31.48%
( 17%) 2,973,566 5.35% 14,518,596 26.13%



A-B (7,111) (1,412) 517 7,211 12,457
(7,111) (8,523) (8,006) (795) 11,662 105 24.5 2,250,000
105 56.30%(225,000,000*0.6130/245,000,000)

110
111
112
113
114
115
333,387 566,906 611,705 636,397 584,956 591,942
( 56.30%)B()
306,194 520,666 561,811 584,489 537,243 543,660
A-B 27,193 46,240 49,894 51,908 47,713 48,282 38,855 85,095 134,989 186,897 234,610 282,892
97
105 61.30% 56.30% 115 105 ~115 282,892
(2)
300,000 80,000 1.72%~1.75% 1,376 ~1,400
5.
98

0%
(1)(
) (2)(
) (3)(
) (4)


1,500,000 10 101,877,184 1,018,771,840

5,377,716 1,911,748 1,352,865 2,113,103
(104 12 31 )





99





0%
(1)(
) (2)(
) (3)(
) (4)


1. 1,500,000 10 2.101,877,184 3.1,018,771,840

5,377,716 1,911,748 1,352,865 2,113,103
(104 12 31 )


100








101,877 119,734
- 6.81% 1 2 16.8 (16.65 101%)
17,857 (300,000 /16.8 ) 3
1-[101,877/(17,857*5/12+101,877)]=6.81%
( )



1.
(1)
(2)
(3)
102 NCC 65%
300,000 220,000 105 105 3 2,128,766 61.30% 101 1 6 101
102
103 5 20%103 7 103 11 105 3 80% 105 4 18
B.

2. (1)

25 101 108 3,000

101 108 105 1,589,374 104 105 105 70,744 105 183.47% 74.45% 105 24.5


105 () (1,589,374) 104 653,374 105 () 170,758 835,986 105 70,744
(2)
A.
Data Center 100G
IEK 105 104 105 IEK 105 104 8.5% 1 1,525
B.
80,000 105 106 220,000 80,000 105 6 105 9 ( )
104




(1) 278,257 442,981 344,913 369,892 427,582 383,447 295,747 274,393 285,870 274,274 239,395 220,636
(2) 274,733 90,169 176,465 151,189 103,672 97,631 136,711 171,839 155,916 145,941 164,710 200,289
(3) 125,144 154,547 125,527 83,060 135,240 359,705 148,617 143,786 155,058 194,864 175,010 185,750

(4) 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000

5=3+4 425,144 454,547 425,527 383,060 435,240 659,705 448,617 443,786 455,058 494,864 475,010 485,750

()
(6)=(1)+(2)-(5)
127,846 78,603 95,851 138,021 96,014 (178,627) (16,159) 2,446 (13,272) (74,649) (70,905) (64,825)
(7) 15,135 (33,690) (25,959) (10,439) (12,567) 174,374 (9,448) (16,576) (12,454) 14,044 (8,459) (12,462)

106
300,000 300,000
105
(2)
( 101 ~125 )

%
55,559,463 100.00 36,464,868 65.63
19,094,595 34.37 1,645,194 2.96 17,492,162 31.48 ( 17%) 2,973,566 5.35 14,518,596 26.13

107
FTTH FTTH 101 125

FTTH 21,457,368 38.62 FTTH 7,154,405 12.88 7,869,992 14.16 15,237,916 27.43 3,839,782 6.91 55,559,463 100.00

FTTH
10% ISP
FTTH ISP FTTH 30%

4G LTE 200M 1G 5 500 ( WiFi/Wimax Operators ) 8%

105 90% 0.76 4 UI 3% Addressable Market 4
IFRS 102 4

a.FTTH FTTH
108 ADSL FTTH 109 140,713 3.90% 125 259,575 21 199,309 109 FTTH 46,904 3.90%125 86,525 21 66,465
104 1,043,948 104 5 89.20%
10% 103 11
108
FTTH FTTH
b.
c.
B.

4. (1)
(GDR)


109

3.

4. (GDR)

5.
10%~15%

(2)


( 123) 2,580 - 1,500 -
101,877 101,877 101,877 101,877
( 45) - 18,018 - 17,857
101,877 119,895 101,877 119,734
110
0.03 - 0.01 -
( 5) - 8.12% - 6.81% 1 1.72%()
0% 1.00% 2 105 6 105 6 3 300,000 1.72%6/12=2,580
105 1,500 (300,000 1%6/12) 4 51.A. 16.8 (16.65 101%)
17,857 (300,000 /16.8 ) 109,317 (17,857*5/12+101,877)
B. 1-[101,877/(17,857*5/12+101,877)]=6.81%
2.A. 16.65 300,000 18,018 105 110,886 (101,877+18,0186/12)
B. 1-[101,877/(101,877+18,0186/12)]=8.12%
A.

105 0.03 0.01 8.12%
B.
C.
a.
16.65 18,018 300,000 10% 10%
111
b.
104 12 31 3,465,968 105 3 101,877 34.02 300,000 16.65
3,465,968 300,000

31.41




1. ()
1

()


300,000 220,000 105 105 25 ( 100 12 125 12 )103 125
9,010,935
65%35% 14,518,596 (WACC) 5.28% 3,800,747 10.11% 115 105 61.30% 56.30% 115
105 ~115 282,892



C.
25 101 NCC 102 NCC 103 5 20% 103 7 103 11 105 3 80%125
105 107 14,518,596 (WACC) 5.28% 3,800,747 10.11% 15


115 2,953,634 1,706,082 1,247,552 85,743 1,163,431 965,648
114
105 760,010 852,968 (92,958) 49,805 (142,213) (142,213) (87,177) (0.86)
106 1,396,424 1,335,362 61,062 89,317 (28,255) (28,255) (17,320) (0.17)
107 1,632,533 1,490,887 141,646 131,315 10,331 10,331 6,333 0.06
108 2,014,775 1,712,730 302,045 157,836 144,227 144,227 88,411 0.87
109 1,992,622 1,572,237 420,385 171,486 249,144 249,144 152,725 1.50
110 2,469,903 1,714,528 755,375 171,486 584,313 543,861 333,387 3.27
111 2,746,535 1,478,899 1,267,636 154,337 1,114,224 924,806 566,906 5.56
112 2,840,488 1,502,596 1,337,892 137,189 1,202,275 997,888 611,705 6.00
113 2,894,485 1,525,336 1,369,149 120,040 1,250,805 1,038,168 636,397 6.25
114 2,930,905 1,680,079 1,250,826 102,891 1,149,700 954,251 584,956 5.74
115 2,953,634 1,706,082 1,247,552 85,743 1,163,431 965,648 591,942 5.81 1105 105 3 101,877
2106 115 101,877
25 14,518,596 9,010,9351053 2,250,00061.30%107 EPS
(2)
3. (1)
115

105

(1) 278,257 442,981 344,913 369,892 427,582 383,447 375,747 354,393 365,870 354,274 319,395 300,636 278,257 268,905 88,485 175,179 146,585 99,877 95,036 135,042 168,313 153,256 143,366 161,189 197,666 1,832,899 5,828 1,684 1,286 4,604 3,795 2,595 1,669 3,526 2,660 2,575 3,521 2,623 36,366 (2) 274,733 90,169 176,465 151,189 103,672 97,631 136,711 171,839 155,916 145,941 164,710 200,289 1,869,265 87,263 104,747 93,474 54,824 86,311 91,496 106,190 102,101 107,237 142,289 126,082 136,817 1,238,831 25,212 27,209 16,703 13,090 20,208 21,726 25,090 24,304 25,415 33,488 30,133 32,371 294,949 11,259 20,743 11,732 11,889 11,978 12,087 12,549 12,580 12,576 12,610 12,552 12,521 155,076 103 343 997 521 2,650 11,424 1,362 2,836 1,252 2,621 3,121 231 27,461 220,000 220,000 614 614 1,307 1,505 2,621 2,736 14,093 2,972 3,426 1,965 7,964 3,856 3,122 3,810 49,377 (3) 125,144 154,547 125,527 83,060 135,240 359,705 148,617 143,786 155,058 194,864 175,010 185,750 1,986,308 (4) 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 (5)=(3)+(4) 425,144 454,547 425,527 383,060 435,240 659,705 448,617 443,786 455,058 494,864 475,010 485,750 2,286,308 () (6)=(1)+(2)-(5) 127,846 78,603 95,851 138,021 96,014 (178,627) 63,841 82,446 66,728 5,351 9,095 15,175 (138,786)
0 300,000 300,000 0 (15,000) (15,000) 25,565 23,500 49,065 (10,430) (33,690) (25,959) (10,439) (12,567) (30,626) (9,448) (16,576) (12,454) (9,456) (8,459) (12,462) (192,566) (7) 15,135 (33,690) (25,959) (10,439) (12,567) 254,374 (9,448) (16,576) (12,454) 14,044 (8,459) (12,462) 141,499 8=1+2-3+7 442,981 344,913 369,892 427,582 383,447 375,747 354,393 365,870 354,274 319,395 300,636 302,713 302,713
116

106

(1) 302,713 314,347 329,328 345,718 338,773 319,757 329,732 333,145 326,608 333,962 307,143 316,698 302,713 187,652 187,681 168,799 133,887 150,012 149,120 165,067 182,537 203,314 179,314 194,259 222,218 2,123,860 4,254 3,869 4,691 4,567 3,459 5,461 4,746 5,166 3,791 4,984 4,801 3,641 53,430 (2) 191,906 191,550 173,490 138,454 153,471 154,581 169,813 187,703 207,105 184,298 199,060 225,859 2,177,290 126,614 112,729 104,287 100,178 109,660 119,073 140,520 134,372 136,022 153,888 132,480 125,529 1,495,352 30,179 26,882 24,828 23,820 25,956 28,208 33,192 29,709 29,891 36,305 31,690 29,843 350,503 12,413 24,621 12,584 12,352 12,361 12,231 12,376 12,550 12,820 11,720 12,537 12,866 161,431 351 1,210 623 1,313 801 562 2,450 852 727 586 461 790 10,726 0 5,119 5,119 1,249 2,658 2,306 2,261 15,231 2,051 1,815 3,151 12,801 3,125 3,841 2,806 53,295 (3) 170,806 168,100 144,628 139,924 164,009 162,125 190,353 185,753 192,261 205,624 181,009 171,834 2,076,426 (4) 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 (5)=(3)+(4) 470,806 468,100 444,628 439,924 464,009 462,125 490,353 485,753 492,261 505,624 481,009 471,834 2,376,426 () (6)=(1)+(2)-(5) 23,813 37,797 58,190 44,248 28,235 12,213 9,192 35,095 41,452 12,636 25,194 70,723 103,577
0 0 (35,563) (35,563) (30,000) (30,000) 100,000 65,000 165,000 (9,466) (8,469) (12,472) (5,475) (8,478) (52,481) (5,484) (8,487) (7,490) (5,493) (8,496) (7,499) (139,790) (7) (9,466) (8,469) (12,472) (5,475) (8,478) 17,519 23,953 (8,487) (7,490) (5,493) (8,496) (7,499) (40,353) 8=1+2-3+7 314,347 329,328 345,718 338,773 319,757 329,732 333,145 326,608 333,962 307,143 316,698 363,224 363,224
117
103 104 105


90 ~120 103 104 84 111 104 104 103 103 104 80% 120 20% 90
30 ~90 67 68 105 106 104
B.
105 106 27,461 10,726 105 4 22
C.()
%
103 104
1.06 1.10 (%) 35.26 29.40 2,306,135 1,588,038 (%) 30.55 (31.14) 121,005 3,542 () 1.35 0.03 103 104
118
a.
b.
(3)
(4)
(5)

119
( 1)
100 101 102 103 104
- 1,451,182 2,246,076 2,672,225 2,090,610
- 439,876 720,625 1,231,029 1,272,751
- 43,785 425,565 814,210 1,352,865
- 304,191 343,610 564,386 661,490
- 2,239,034 3,735,876 5,281,850 5,377,716
- 367,832 851,286 970,526 744,246
- 462,704 961,970 1,074,404 2
- 405,940 518,427 1,129,848 1,167,502
- 773,772 1,369,713 2,100,374 1,911,748
- 868,644 1,480,397 2,204,252 2
- 1,315,045 1,736,469 2,197,752 2,370,141
- 690,600 790,600 936,943 1,018,772
- 134,182 379,119 745,400 1,014,945
- 481,340 551,647 512,795 333,562
- 386,468 440,963 408,917 2
- 8,923 15,103 2,614 2,862
- - - - -
- 1,465,262 2,366,163 3,181,476 3,465,968
- 1,370,390 2,255,479 3,077,598 2
1 102 2/
120


1
100 101 102 103 104
- 1,052,959 1,654,715 1,569,319 1,306,426
- 524,304 783,651 1,266,079 1,559,427
- 369,046 365,254 361,154 350,976
- 271 1,074 1,300 939
- 115,699 290,099 197,075 139,320
- 2,062,279 3,094,793 3,394,927 3,357,088
- 340,753 823,818 627,119 603,896
- 435,625 934,502 730,997 2
- 406,481 534,506 570,056 383,051
- 747,234 1,358,324 1,197,175 986,947
- 842,106 1,469,008 1,301,053 2
- 690,600 790,600 936,943 1,018,772
- 134,182 379,119 745,400 1,014,945
- 481,340 551,647 512,795 333,562
- 386,468 440,963 408,917 2
- 8,923 15,103 2,614 2,862
- - - - -
1 102 2
121


1
100 101 102 103 104
1,184,855 1,468,944 - - -
35,052 35,052 - - -
440,549 510,695 - - -
7,913 46,261 - - -
54,846 160,410 - - -
1,723,215 2,221,362 - - -
363,383 364,859 - - -
496,755 768,793 - - -
346,333 471,910 - - -

122


1
100 101 102 103 104
966,172 1,070,870 - - -
345,959 568,159 - - -
357,140 373,004 - - -
- - - - -
400,671 338,283 - - -
545,035 752,834 - - -
346,333 471,910 - - -
123


( 1)
100 101 102 103
( 2) 104
- 2,002,841 1,747,628 2,048,366 1,596,605
- 428,490 392,558 358,933 247,441
- 225,330 118,231 28,636 (46,831)
- 11,353 56,854 43,488 (13,189)
- 236,683 175,085 72,124 (60,020)

- 178,918 116,530 21,768 (78,282)
( ) - 178,918 116,530 21,768 (78,282)
( )
- (1,926) 5,903 (12,769) (131)
- 176,992 122,433 8,999 (78,413)

- 193,664 165,638 121,005 3,542

- (14,746) (49,108) (99,237) (81,824)

1 102
2 IAS 19 103 1 1 103

124


1
100 101 102 103
( 2) 104
- (39,201) (5,970) (72,272) (97,377)
- 251,071 224,102 171,181 21,067

- 193,664 165,638 121,005 3,542
( ) - 193,664 165,638 121,005 3,542
( )
- (1,877) 5,721 (12,861) (77)
- 2.80 2.11 1.38 0.03
1 102
2 IAS 19 103 1 1 103

125
1.
1
100 101 102 103 104
2,218,299 1,996,518 - - -
395,130 429,258 - - -
203,402 226,405 - - -
50,735 29,212 - - -
16,537 17,858 - - -

237,600 237,759 - - -
- - - - -
- - - - -

195,121 194,637 - - -
(501) (14,746) - - -
126


1
100 101 102 103 104
2,178,814 1,932,290 - - -
391,470 410,719 - - -
224,521 291,328 - - -
51,996 30,135 - - -
38,783 69,316 - - -

237,734 252,147 - - -
- - - - -
- - - - -
127
0.36 20,684
0.33
()
()()

103
1.
100 101 102 103 104

100 101 102 103 104
2.
100 101 102 103 2
104
- 425.39 400.29 350.22 364.05

- 41.18 13.18 3.60 4

- 81 107 75 68
- 4.26 3.16 4.30 3.45
- 7.32 4.37 5.06 5.38
- 86 115 85 106
- 4.65 3.01 2.10 1.28
- 1.01 0.58 0.45 0.30


- 144.04 64.14 14.43 5
- 3 3 3 3
- 1.90 3.32 12.53 6
- 1.03 1.14 32.65 6
20%
2./()

1 2 IAS 19 103 1 1 103
3 4 5 6
129
2.—()

1
100 101 102 103 ( 2)
104
()

- 77 107 84 111
- 4.48 3.54 5.65 4.79
- 7.61 4.46 5.41 5.38
- 82 103 65 76
- 5.48 4.81 6.35 4.46
- 0.94 0.57 0.68 0.47


- 1.63 16.46 11.91 3
- 1.41 1.87 2.21 2.67
- 1.02 1.04 1.06 1.10
20%
1.
3.() 104



1 2 IAS 19 103 1 1 103
3
130
(1) (2)
2. (1) (2) (3)
3. (1)() ()
(2)365 (3) (4)() ()
(5)365 (6) (7)
4. (1)× (2) (3) (4)
( 1) 5.
(3)()( )
6. (1)()( 3) (2)()
1 1. 2. 3.
4.

2 1. 2. 3. 4. 5.
3
4
131
3.-()

1
100 101 102 103 104

1.94 1.90 - - -
1.02 1.03 - - -
1102 2
132
4.-()

1
100 101 102 103 104

1.02 1.02 - - -
1 102 2
133
2. (1)=/ (2)=--/ (3)=/
3. (1)=/
(2)=365/ (3)=/ (4)=/
(5)=365/ (6)=/ (7)=/
4. (1)=[+×1-]/ (2)=/ (3)=/ (4)=-/( 1)
5. (1)=/ (2)=/+
+ (3)=-/++ +( 2)
6. (1)=-/ (2)=/-( 3)
1 1. 2. 3.
4.

2 1. 2. 3. 4. 5.
3
134







-





400,638 209,300 (191,338) (48%)
104

135

410,326 561,793 151,467 37%
1,333,884 889,890 (443,994) (33%)
329,226 398,718 69,492 21%
358,933 247,441 (111,492) (31%)
() 28,636 (46,831) (75,467) (264%)


43,488 (13,189) (56,677) (130%) 103 104
() 72,124 (60,020) (132,144) (183%) 104


136












104

338,497 191,808 (146,689) (43%) OSP

300,697 204,114 (96,583) (32%) OSP



159,334 121,284 (38,050) (24%) 104




138
1. 160 246 2. 247 333
1. 334 420 2. 421 508



139

564,386 661,490 97,104 17.21
5,281,850 5,377,716 95,866 1.82
970,526 744,246 (226,280) (23.32) 3
1,129,848 1,167,502 37,654 3.33
2,100,374 1,911,748 (188,626) (8.98)
936,943 1,018,772 81,829 8.73
745,400 1,014,945 269,545 36.16 4
512,795 333,562 (179,233) (34.95) 5
2,614 2,862 248 9.49
2,197,752 2,370,141 172,389 7.84
983,724 1,095,827 112,103 11.40
3,181,476 3,465,968 284,492 8.94
1.104 581,615
2.104 538,655
3.104 226,280 4.104 269,545 104 5.104 179,233

140



$ 2,048,366 $ 1,596,605 (451,761) (22.05) 1 1,689,433 1,349,164 (340,269) (20.14) 2 358,933 247,441 (111,492) (31.06) 2 330,297 294,272 (36,025) (10.91) 28,636 (46,831) (75,467) (263.54) 2 43,488 (13,189) (56,677) (130.33) 3 72,124 (60,020) (132,144) (183.22) 2 50,356 18,262 (32,094) (63.73) 4 () 21,768 (78,282) (100,050) (459.62) 2 () (12,769) (131) 12,638 98.97 5 8,999 (78,413) (87,412) (971.35) 2 1. 104 2. 104 3. 103 104 104 4. 104 5. 103
2.

1 1 1
14.43 2 2
1 1 1

2.
1
278,257 130,418 405,962 2,713 -
105 1. 2. 61.30% 105 3.





1.
25 25 14,518,596 8 9,010,935 104 12 2,250,000 61.30% 105
142
()

511





144


145
105 03 31 10

10 0 100.00%
() 4 0 100.00% 104.06.22
6 0 100.00% 104.06.22
2 0 100.00% 104.06.22 104.08.15
6 0 100.00% 104.06.22
10 0 100.00%
4 0 100.00% 104.06.22
6 0 100.00% 104.06.22
6 0 60.00%
10 0 100.00%
9 0 90.00% 104.06.21 4 104.06.22 105.03.31 6
14 3




104.11.06 Sing Tung Technologies Pte. Ltd.() ( )


104.11.06


146


105.03.18 ()

105.03.18

105.03.18







(%) / ( )
9 90.00%
6 60.00%
10 100.00%
104.06.21 4 104.06.22 105.03.31 6
1.







?
1.



104

104.08.12
8.

- - -
- - - 3
- - - 4 1 2“”
1 2
3 4 5
6 7
8 30
3104.07.06 4104.06.22
2. (1) 3 (2)104 07 06 107 06 21 105 03 31 6 ()

3 0 100.00 104.06.22
3 0 100.00 104.06.22
3 0 100.00 104.07.06
3 0 100.00 104.07.06
152
) 2.







21
200


4.
5.


















90.09.28 105.03.18
94.01.17 105.04.25




528 529

36.F213030 37.F114080 38.F115020 39.F214080 40.F215020 41.E603080 42.ZZ99999

36.F213030 37.F114080 38.F115020 39.F214080 40.F215020 41.ZZ99999








()

$ 208,947,484
168


104 103 1 1 12 31



70 12 89 5
99 1
100 7
9

30

( )
1030029342
169
2013 IFRS IAS IFRIC SIC IFRSs



IFRS 13



170

IAS 19 103 1 1
103

103


1 0 3
( $ 4 ) ( $ 41 ) ( $ 45 ) ( 4 ) ( 41 ) ( 45 )


( $ 4 ) ( $ 41 ) ( $ 45 ) - - - ( $ 4 ) ( $ 41 ) ( $ 45 )

103
( ) IASB IFRSs
IASB IFRSs
105 3 10 106 IFRSs
IASB 105 1 1 106 1 1
IFRSs IFRS 9 IFRS 15
171
107 IFRS 15


IASB 1 2010-2012 2014 7 1 2 2011-2013 2014 7 1 2012-2014 2016 1 1 3 IFRS 9 2018 1 1 IFRS 9 IFRS 7 2018 1 1 IFRS 10 IAS 28

IFRS 11 2016 1 1 IFRS 14 2016 1 1 IFRS 15 2018 1 1 IFRS 16 2019 1 1 IAS 1 2016 1 1 IAS 7 2017 1 1 IAS 12
2017 1 1
IAS 16 IAS 38
2016 1 1
IAS 16 IAS 41 2016 1 1 IAS 19 2014 7 1 IAS 27 2016 1 1 IAS 36 2014 1 1 IAS 39
2014 1 1
IFRIC 21 2014 1 1 IFRS 10IFRS 12 IAS 28
2016 1 1
1

IFRS 2 2014 7 1
IFRS 3 IFRS 13
2014 7 1
172
3 IFRS 5 2016 1 1
2016 1 1




IFRS 15
(1)
(2)
(3)


( )



2 3


14 93 10 168
95 9 99
11
12 95 10
144 94 99 12



188
62,058 40,304




IAS 16 104 103 12
31


104 103 12 31
326,739 264,789
9,373 13,586
189
12 31 422,302 360,152


104 103 12 31



1041231 1031231 $ 995 $ 986 342,930 577,249 3

104 12 31 3
8,000
190

1041231 1031231 3
0.22%~0.94% 0.85%~1.25% 0.40% 0.40%~0.63% 0.24%~1.37% 0.38%~1.37% 3
1.35%~1.36% -


104 12 31
104 8 25 105 9 5 USD 1,000/NTD 32,787
104


191





4

98 3
400,380 3,120,000

40% 99 3 30
22%
265,210 1,263
99 4 5
( ) 102 3
45% 102
192
104 5 20%
104 7 1,100
( )

1041231 1031231 $ 2,977 $ 2,423 - - $ 2,977 $ 2,423 $ 336,112 $ 278,375 ( 9,373 ) ( 13,586 ) $ 326,739 $ 264,789 $ 11,678 $ - 5,997 - 428 33,000 2,789 3,540 $ 20,892 $ 36,540
90
12 31


1041231 1031231 90 $ - $ - 91 120 53,223 29,388 120 23,012 52,438 $ 76,235 $ 81,826


103 1 1 $ 14,279 $ 186 $ 14,465 ( 846 ) ( 186 ) ( 1,032 ) 153 - 153 103 12 31 $ 13,586 $ - $ 13,586 104 1 1 $ 13,586 $ - $ 13,586 ( 4,158 ) 24 ( 4,134 ) ( 79 ) - ( 79 ) 104 12 31 $ 9,349 $ 24 $ 9,373

1041231 1031231 90 $ - $ - 91 120 - - 120 9,349 13,586 $ 9,349 $ 13,586
194
12 31 0 1,290



$ 1,264 $ 1,264
410,326

1041231 1031231 $ 72,852 $ 23,178 67,462 - 95,503 100,634 - 10,884 25,607 18,611 $ 261,424 $ 153,307

1041231 1031231 $ 347,121 $ 226,035 28,563 49,779 183,052 193,468 4,461 11,746 563,197 481,028 140,895 120,876 $422,302 $ 360,152
104 103 889,890
1,333,884 104 103
195


104
1231 103
98
99 8 PT. TAI TUNG SOLUTION
- 100%
100% 100%
12 16

65% 65%

103 12
100% -
PT. TAI TUNG SOLUTION 104 3

101 1 6 101 6
18


TRADING LTD.
( )
1041231 1031231 38.70% 42.28%

104 103 1041231 1031231 ( $ 75,909 ) ( $ 98,607 ) $ 1,064,253 $ 946,182



1041231 1031231 $ 785,114 $ 1,178,077 3,254,970 2,461,697 516,276 739,725 781,368 666,920 $ 2,742,440 $ 2,233,129
104 103 $ 578,015 $ 427,059 ( $ 187,975 ) ( $ 215,903 ) - - ( $ 187,975 ) ( $ 215,903 )
104 103 ( $ 641,198 ) ( $ 519,898 ) ( 262,651 ) ( 777,368 ) 525,683 1,818,978 ( $ 378,166 ) $ 521,712 $ - $ -
197


103 1 1 $ 209,528 $ 98,936 $ 490,300 $ - $ 26,845 $ 26,390 $ 39,701 $ 17,252 $ 268,239 $ 1,177,191 - - 20,599 6,878 11,594 558 835 756 549,073 590,293 - - ( 270 ) - ( 4,133 ) - - - - ( 4,403 ) - 1,084 4,856 - 172 42 - 92 - 6,246 - - 2,600 - - 48,948 - - 51,548 4,150 6,837 - - - - - - - 10,987 - 3,759 - 291,777 - - - - ( 380,172 ) ( 84,636 ) 103 12 31 $ 213,678 $ 110,616 $ 518,085 $ 298,655 $ 34,478 $ 26,990 $ 89,484 $ 18,100 $ 437,140 $ 1,747,226 103 1 1 $ - $ 37,593 $ 373,367 $ - $ 13,526 $ 7,595 $ 21,404 $ 3,081 $ - $ 456,566 - - ( 108 ) - ( 2,651 ) - - - - ( 2,759 ) - 4,686 34,201 3,012 4,013 2,884 4,031 1,830 - 54,657 - 3,302 - - - - - - - 3,302 - 517 3,714 - 86 34 - 80 - 4,431 103 12 31 $ - $ 46,098 $ 411,174 $ 3,012 $ 14,974 $ 10,513 $ 25,435 $ 4,991 $ - $ 516,197 103 12 31 $ 213,678 $ 64,518 $ 106,911 $ 295,643 $ 19,504 $ 16,477 $ 64,049 $ 13,109 $ 437,140 $ 1,231,029 104 1 1 $ 213,678 $ 110,616 $ 518,085 $ 298,655 $ 34,478 $ 26,990 $ 89,484 $ 18,100 $ 437,140 $ 1,747,226 - 118 11,528 35,715 10,891 366 1,094 421 49,596 109,729 - - ( 729 ) - - ( 417 ) - - ( 94 ) ( 1,240 ) - ( 643 ) ( 2,882 ) - ( 105 ) ( 17 ) - ( 55 ) - ( 3,702 ) - - 3,386 104,037 855 - - - ( 104,803 ) 3,475 104 12 31 $ 213,678 $ 110,091 $ 529,388 $ 438,407 $ 46,119 $ 26,922 $ 90,578 $ 18,466 $ 381,839 $ 1,855,488 104 1 1 $ - $ 46,098 $ 411,174 $ 3,012 $ 14,974 $ 10,513 $ 25,435 $ 4,991 $ - $ 516,197 - - ( 523 ) - - ( 417 ) - - - ( 940 ) - 4,987 20,702 25,440 5,906 2,684 8,669 1,758 - 70,146 - - - 3 - - - - - 3 - ( 319 ) ( 2,231 ) - ( 56 ) ( 14 ) - ( 49 ) - ( 2,669 ) 104 12 31 $ - $ 50,766 $ 429,122 $ 28,455 $ 20,824 $ 12,766 $ 34,104 $ 6,700 $ - $ 582,737 104 12 31 $ 213,678 $ 59,325 $ 100,266 $ 409,952 $ 25,295 $ 14,156 $ 56,474 $ 11,766 $ 381,839 $ 1,272,751




198

326 210 313 315 515 115 515


103 1 1 $ 45,355 ( 10,987 ) 103 12 31 $ 34,368 103 1 1 $ 13,893 562 ( 3,302 ) 103 12 31 $ 11,153 103 12 31 $ 23,215 104 1 1 104 12 31 $ 34,368 104 1 1 $ 11,153 548 104 12 31 $ 11,701 104 12 31 $ 22,667
199

104 103
12 31 292,133 250,433




103 1 1 $ 216,530 $ 6,479 $ 210,889 $ 433,898 410,326 - 746 411,072 - 240 2 242 103 12 31 $ 626,856 $ 6,719 $ 211,637 $ 845,212 103 1 1 $ - $ 3,294 $ 5,039 $ 8,333 535 670 21,316 22,521 - 147 1 148 103 12 31 $ 535 $ 4,111 $ 26,356 $ 31,002 103 12 31 $ 626,321 $ 2,608 $ 185,281 $ 814,210 104 1 1 $ 626,856 $ 6,719 $ 211,637 $ 845,212 560,538 - 193 560,731 - - ( 28 ) ( 28 ) - - - - - ( 142 ) - ( 142 ) 104 12 31 $1,187,394 $ 6,577 $ 211,802 $1,405,773

200

104 1 1 $ 535 $ 4,111 $ 26,356 $ 31,002 - - ( 28 ) ( 28 ) - 686 21,343 22,029 ( 3 ) - - ( 3 ) - ( 92 ) - ( 92 ) 104 12 31 $ 532 $ 4,705 $ 47,671 $ 52,908 104 12 31 $1,186,862 $ 1,872 $ 164,131 $1,352,865
101 1
60,000
101 7 30
NCC
54,288

4 25%
27,500 104 12 31
103 11

397,622 329,226




1041231 1031231 $ - $ 150,000 $ - $ 150,000 - 481 $ - $ 149,519 $ 1,265,497 $ 1,031,125 240,278 309,387 373,798 266,682 $ 1,131,977 $ 1,073,830
( ) 104 103 12 31
1 16,004
0.12%
2.50%-3.17%
15,000
2.868%-3.038%
173,000
202
103 12 31

110 6 104
103 12 31 1.72%~3.23%
1.74%~3.30%
( ) 108 10 104
103 12 31 1.72%~2.86%
1.85%~3.00%


1041231 1031231 $ 2,385 $ 3,429 - - $ 2,385 $ 3,429 $ 245,634 $ 250,240
3
12 31 1,264


1041231 1031231 $ 32,963 $ 38,673 1,608 11,352 614 10,310 4,333 4,784 23,433 34,834 $ 62,951 $ 99,953
203

104 1 1 $ - 41,031 104 12 31 $ 41,031

3 280,000
( )
( ) 2 105 3 13
102.01%
1 103 4 14
40
( ) 1 103 4 14
10 106 3 3

204
101%
38.9
1.5% 103 8 11
104 2 9
38.1 37.7 103 12 31
258,000

55
55
708


( $ 256,193 ) ( $ 302 ) ( 2,023 ) - - 441 237,634 - 103 12 31 ( $ 20,582 ) $ 139 104 1 1 ( $ 20,582 ) $ 139 ( 186 ) - - ( 295 ) 6,501 - 14,267 156 104 12 31 $ - $ -
104 3 10

104 4 30 5
104 5 4 15,100
677


1041231 1031231 $ 15,463 $ 15,233 2,050 1,938 14,500 14,847 $ 32,013 $ 32,018
104 1 1 $ 15,233 230 104 12 31 $ 15,463
206
9,695 8,670


( $ 906 )
( $ 948 )
207


103 1 1 $ 15,244 ( $ 16,247 ) ( $ 1,003 ) 66 - 66 266 ( 287 ) ( 21 ) 332 ( 287 ) 45


( 257 ) - ( 257 ) 412 - 412 490 ( 118 ) 372 - ( 362 ) ( 362 ) ( 436 ) 436 - 103 12 31 $ 15,630 ( $ 16,578 ) ( $ 948 ) 104 1 1 $ 15,630 ( $ 16,578 ) ( $ 948 ) 82 - 82 293 ( 314 ) ( 21 ) 375 ( 314 ) 61


494 - 494 ( 523 ) - ( 523 ) 459 ( 134 ) 325 - ( 344 ) ( 344 ) ( 1,288 ) 1,288 - 104 12 31 $ 15,176 ( $ 16,082 ) ( $ 906 )

1.
1041231 1031231 1.625% 1.875% 2.000% 2.000%


1041231 1031231 0.25% ( $ 507 ) ( $ 505 ) 0.25% $ 531 $ 529 0.25% $ 521 $ 520 0.25% ( $ 499 ) ( $ 499 )

1041231 1031231 1 $ 339 $ 369 14.4 13.9
1041231 1031231

1 $ 313 $ 299 15 1,967 2,246 5 3,639 3,713 $ 5,919 $ 6,258
209
101,877 93,602 $ 1,018,772 $ 936,024

103 1 1 79,060 $ 790,600 $ 360,380 8,000 80,000 188,000 6,542 65,424 - 103 12 31 93,602 $ 936,024 $ 548,380 104 1 1 93,602 $ 936,024 $ 548,380 10,000 100,000 280,000 275 2,748 - ( 2,000 ) ( 20,000 ) ( 15,949 ) 104 12 31 101,877 $ 1,018,772 $ 812,431
102 12 17
8,000 33.5
103 4 18 103
4 30
103 12 12
10,000 38 100,000
104
2 25 104 3 11
( )
104 103
6,900 258,000
183 6,634 104 12 31

210
$ 812,431 $ 548,380 190,924 189,513 10,523 5,953


5.46 6.66
Black-Scholes

104 103 43.35 40.0 38 33.5 41.4% 31.5 % 16 54 0.69% 0.49%

105 3 18
105 6 7
104 103 103 102
( )
1010012865
1010047490 IFRSs




104 6 22 103 6 24
103 102
103 102 103 102
$ 12,105 $ 16,564 103,878 110,684 $ 1.01963148 $ 1.182524
212
$ 354 - $ -
104 101,877



( 2,272 )

2,571
2.



( )

104 - 2,000 ( 2,000 ) -

104 5 5 2,000

104 5 6
104 7 3 2,000
58,690 104 7 6
104 7 29
1,018,772
( )
104 103 $ 15,267 $ 15,039 10,387 8,502 136 486 835 - 709 16,943 4,188 6,300 122 4,931 5,478 7,073 $ 37,122 $ 59,274


( 149 ) 1,173 31 17,472 ( 7,346 ) 5,308 ( 677 ) -

( )
104 103 $ 38,768 $ 25,376 186 2,023 1,652 4,300 230 360 $ 40,836 $ 32,059
215
( )
104 103() $ 9,695 $ 8,670 61 45 9,756 8,715 247,191 248,644 $ 256,947 $ 257,359 $ 136,012 $ 93,603 120,935 163,756 $ 256,947 $ 257,359

2% 8,435 1,875 104 5
105 3
1%
1.80% 105 3 18
105 6 7



104 6 22 103 6 24
103 102
103 102 $ 7,971 $ 10,440 2,283 2,472
216
104 6 22 103 6 24


103 102


104

( )
104 103 $ 70,146 $ 54,657 548 562 22,029 22,521 $ 92,723 $ 77,740 $ 3,235 $ 2,482 48,211 36,331 18,700 15,844 548 562 $ 70,694 $ 55,219

217

104 103 $ 42,852 $ 64,085 ( 3,269 ) 749 465 3,839 ( 21,786 ) ( 18,317 ) $ 18,262 $ 50,356

104 103 ( $ 60,020 ) $ 72,124
17%

37,392

( 1,597 )
( 8,076 ) ( 3,269 ) 749 10% 465 3,839 $ 18,262 $ 50,356
17%
25%
10%

218
( )
( )

$ 682 $ - $ 203 $ - $ - $ 885 - - 539 - - 539 7,880 - ( 1,600 ) - 23 6,303 159 - - - - 159
7,312 - 23,640 - - 30,952 - - 277 - - 277 2,537 - ( 2,537 ) - - - 1,911 - ( 1,700 ) - 8 219 624 - ( 79 ) - 20 565 - 763 ( 718 ) - - 45 240 - 120 - - 360 $ 21,345 $ 763 $ 18,145 $ - $ 51 $ 40,304


$ 2,096 $ - $ - $ 607 $ - $ 2,703 601 - - - - 601 69 - - - - 69 177 - ( 132 ) - - 45 40 - ( 40 ) - - - $ 2,983 $ - ( $ 172 ) $ 607 $ - $ 3,418
219

$ 885 $ - ( $ 335 ) $ - $ - $ 550 539 - ( 470 ) - - 69 6,303 - 3,005 - ( 13 ) 9,295 159 - 206 - - 365
30,952 -
12,641 - -
43,593
277 - ( 277 ) - - - 565 - ( 81 ) - ( 11 ) 473 45 - ( 45 ) - - - 219 - - - ( 5 ) 214 360 - 120 - - 480 - - 6,975 - - 6,975 - - 44 - - 44 $ 40,304 $ - $ 21,783 $ - ( $ 29 ) $ 62,058



$ 2,703
$ 46
$ $ 51 $ -
$ 2,800 601 - - - - 601 69 - - - - 69 45 - ( 45 ) - - - - - 42 - - 42 $ 3,418 $ 46 ( $ 3 ) $ 51 $ - $ 3,512
( )

1041231 1031231 104 $ - $ 9,177 105 18,544 18,945 106 6,884 7,032 107 16,479 16,835 108 31,472 - 111 61,685 61,685 112 111,446 111,446 113 214,600 212,388 114 187,106 - 648,216 437,508

220

1041231 1031231 $ 81,611 $ 81,801 7,649 7,814 68,010 71,504 - 1,709 2,120 1,126 159,390 163,954 $ 807,606 $ 601,462
( )
1041231 1031231 $ 215,935 $ 174,482 $ 4,098 $ 4,117
$ - $ - 86 $ - $ - 87 209,302 400,638 $ 209,302 $ 400,638 86
$ - $ - 87
104 103

104 103 33.66% 28.85% 26.98% 42.08% - - - -
87

221

102 102 103


104 $ 3,542 101,312 $ 0.03 - 311 $ 3,542 101,623 $ 0.03 103 $ 121,005 87,828 $ 1.38 - 272 2,023 2,847 $ 123,028 90,947 $ 1.35




103 3 14 103 8 12
34,000
25,200 18 20
340,000 252,000 103 5 15 103
11 5 21,456
19,055 386,216 381,095
52.87% 57.72%
348,000 104 5 5
28,142 562,838
57.72% 61.30%


$ - ( $ 17,195 ) ( 59,533 ) ( 48,801 ) ( $ 59,533 ) ( $ 65,996 )
223

104 103 12 31
5,252 4,201

1041231 1031231 1 $ 30,294 $ 30,572 15 18,820 29,655 5 4,377 8,797 $ 53,491 $ 69,024
104 103 41,606
36,071
104 103 12 31
3,750

1041231 1031231 1 $ 15,000 $ 15,000 15 48,750 60,000 5 - 3,750 $ 63,750 $ 78,750





1041231 1031231
$ - $ - $ 20,582 $ 20,872
104 12 31
1 2 3

103 12 31
1 2 3


1041231 1031231 1 $ 1,752,861 $ 2,458,607
- 139 2 29,452 30,552 3 1,789,584 1,971,565
58 -

2



1041231 1031231 $ 41,819 $ 39,911 177,700 225,611 48,869 41 - 2,254 54,851 50,545 2,348 1,676 25,233 - 2,081 2,231 418 105



227

104 103 104 103
( $ 108 ) ( $ 88 ) $ 1,440 $ 1,863
(2)

5,901 4,510

1041231 1031231 A $ 136,667 $ 95,109 B 29,161 3,829 C 29,026 55,806 D 23,718 12,484 E 12,807 1,057
3.


104 103 12 31


2,204,113
229


104 12 31
1 1 3 3 1 1 5 5

$ 2,263 $ 122 $ - $ - $ - $ 2,385 130,092 105,172 10,369 1 - 245,634 48,446 8,370 6,029 106 - 62,951

22,810 69,612 281,376 - - 373,798 - - - 1,109,691 22,286 1,131,977 $ 203,611 $ 183,276 $ 297,774 $ 1,109798 $ 22,286 $1,816,745
103 12 31
1 1 3 3 1 1 5 5

$ 30,000 $ - $ 120,000 $ - $ - $ 150,000 50,000 100,000 - - - 150,000 903 2,411 115 - - 3,429 119,455 103,382 27,403 - - 250,240 69,226 22,403 8,324 - - 99,953

16,801 45,209 204,672 - - 266,682 - - - 22,000 - 22,000 - - - 1,003,973 69,857 1,073,830 $ 286,385 $ 273,405 $ 360,514 $ 1,025,973 $ 69,857 $ 2,016,134
( )





104 USD 289 USD 289 USD - USD - - $ 150,000 SGD 9,450 SGD 9,450 SGD - SGD - 103 USD 4,286 USD 4,286 USD - USD - - $ 150,000 SGD 7,884 SGD 7,884 SGD - SGD -
230



$ 25 $ 20 616 97 $ 641 $ 117 $ 56,083 $ 17,135

1041231 1031231 $ 24 $ 24 $ 15,882 $ 4,339
231
4.

$ 12,396 $ 11,396

( )
104 103 $ 36,856 $ 42,829 1,056 3,040 773 926 $ 38,685 $ 46,795
232


390,916 -
( ) 104 12 31

A $ 5,379,954 $ 1,553,373 B 908,662 220,137 C 143,132 93,576 D 303,506 299,227 234,675 150,873
5%
104 12 31 223,460
763,305
935,744 104
12 31 195,552
740,192
( ) 490
104 12 31 441
49
( )
1,087,033 104 12 31
891,365
195,668
101 1
25




20,000




104 12 31
$ 2,110 32.825 $ 69,261 7,643 23.25 177,700

235

$ 8 4.978 $ 40 2,507 32.825 82,292 101 23.25 2,348 58 35.88 2,081 1,533 0.273 418
103 12 31
$ 916 31.65 $ 28,991 9,424 23.94 225,611 8,645 5.0855 43,964 87 25.905 2,254 1,252 31.65 39,626 70 23.94 1,676 2,610 5.0855 13,273 58 38.47 2,231 379 0.278 105
104 103


104
237
238


104 1 1 12 31






0
$ 50,000 $ 50,000 $ - 2.678% $ - $ - - - $ 948,056 $ 948,056
0
50,000 50,000 - 2.641% - - - - 948,056 948,056
0
200,000 200,000 - 2.599% - - - - 948,056 948,056
40%
239


104 1 1 12 31


1







1
1



0 $ 9,480,564 $ 2,400,000 $ 2,270,000 $ 977,354 $ - 95.77% $ 9,480,564 Y N N - 0 9,480,564 768,980 768,980 65,982 - 32.44% 9,480,564 Y N N -
1 400% 104 12 31 2,370,141 400% 9,480,564
240





1,404 $ 6,124 9.29% $ 5,824 440 4,400 1.67% 4,034 1,891 18,928 7.66% 13,261 540 - 18.00% - -
104
IAS 39

1 20%
104 1 1 12 31






$ 456,346 32.68 $ 212,324 39.61 105,278 7.54 29,161 5.44

104 12 31




$ 212,324 - $ - $ 191,161 $ -




$ 17,550 $ 17,550 450 100 $ 11,327 $ 3,908 $ 3,908 168,153 168,153 4,978 100 69,222 ( 1,513 ) ( 5,726 ) PT. TAI TUNG SOLUTION - 19,510 - 100 - 446 446 2,128,766 1,565,928 137,918 61.30 1,425,594 ( 187,975 ) ( 112,258 ) 65,000 65,000 6,500 65 54,284 ( 16,267 ) ( 10,581 ) 5,675 5,675 - 97 15,509 ( 1,451 ) ( 1,513 ) UNION METRO TRADING LTD. 1,564 - 50 100 1,460 ( 104 ) ( 104 )
104
104
244


104 1 1 12 31










$ 6,000 $ 5,675 $ - $ - $ 5,675 97% ( $ 1,513 )
$ 15,509

1,937 180 - - 180 9.29% - 1,504 -



7,257 7,257 $2,079,581


98 12 10 1,402
97 8 29 60%
245


104 1 1 12 31





0 1 $ 17,158 1.08% 0 1 2,099 0.04% 1 2 19,257 1.21% 0 1 29,161 0.54% 2 2 29,161 0.54% 2 3 27,259 0.51% 1 3 27,259 0.51% 0 1 105,278 6.60% 2 2 105,278 6.60% 1 3 107,512 6.74% 2 3 107,512 6.74% 0 1 308,657 19.36% 0 1 3,223 0.20% 0 1 145,940 9.15% 3 2 165,940 3.09% 0 1 26,468 1.66% 3 2 26,468 1.66% 0 1 7,916 0.50% 3 2 7,916 0.50% 0 1 29,597 0.55% 3 2 29,597 0.55% 0 1 3,322 0.21% 3 2 3,322 0.21% 0 1 13,630 0.85% 0 1 82,907 1.54% 0 1 3,438 0.06%

246





3 2 $ 13,630 0.85% 3 2 79,469 1.48% 0 1 106,658 1.98% 0 1 8,758 0.16% 0 1 3,566 0.07% 3 2 118,982 2.21% 0 1 212,324 3.95% 3 2 58,893 1.10% 3 2 153,431 2.85% 0 1 115,080 7.22% 0 1 58,625 3.68% 3 2 56,455 1.05% 0 1 14,063 0.88% 0 1 10,714 0.67% 3 2 3,349 0.06%

1. 0

255


103 102 1 1 12 31



70 12 89 5
99 1
100 7
9

30
256
1030029342
2013 IFRSIASIFRIC SIC IFRSs

IASB IFRSs IFRSs IAS 39
2009 2009 1 1 2010
1 1 IAS 39 2009 6 30
IFRSs 2010 2010 7 1 2011
1 1 2009 -2011 2013 1 1 IFRS 1 IFRS 7
2010 7 1
IFRS 1
2011 7 1
IFRS 1 2013 1 1 IFRS 7 2013 1 1 IFRS 7 2011 7 1 IFRS 10 2013 1 1 IFRS 11 2013 1 1 IFRS 12 2013 1 1 IFRS 10IFRS 11 IFRS 12

2013 1 1
IFRS 10IFRS 12 IAS 27 2014 1 1 IFRS 13 2013 1 1

257

IASB IAS 1 2012 7 1 IAS 12 2012 1 1 IAS 19 2013 1 1 IAS 27 2013 1 1 IAS 28 2013 1 1 IAS 32 2014 1 1 IFRIC 20 2013 1 1








1 104
103
103 1 1 12 31




1 0 3
( $ 4 ) ( $ 41 ) ( $ 45 ) ( 4 ) ( 41 ) ( 45 )


( $ 4 ) ( $ 41 ) ( $ 45 ) - - - ( $ 4 ) ( $ 41 ) ( $ 45 )

259

IASB 1 2010-2012 2014 7 1 2 2011-2013 2014 7 1 2012-2014 2016 1 1 4 IFRS 9 2018 1 1 IFRS 9 IFRS 7 2018 1 1 IFRS 10 IAS 28
2016 1 1 3
IFRS 11 2016 1 1 IFRS 14 2016 1 1 IFRS 15 2017 1 1 IAS 16 IAS 38
2016 1 1
IAS 16 IAS 41 2016 1 1 IAS 19 2014 7 1 IAS 27 2016 1 1 IAS 36 2014 1 1 IAS 39
2014 1 1
IFRIC 21 2014 1 1
1

IFRS 2 2014 7 1
IFRS 3 IFRS 13
2014 7 1
3 2016 1 1

4 IFRS 5 2016 1
1


261
IFRS 15
(1)
(2)
(3)



2 3


103
1231 102
98
99 8 PT. TAI TUNG SOLUTION

100% 100%
100% 100%
12 16

65% -



103 12
- -
PT. TAI TUNG SOLUTION


101 1 6 101 6
18

NCC 103
11 11
9
PT. TAI TUNG SOLUTION


14 93 10 168
267
11
12 95 10
144 94 99 12



277
40,304 21,345




IAS 16 103 102 12
31


103 102 12 31
264,789 568,922
13,586 14,465
278
12 31 360,152 424,868

102 12 31 1,231,029
720,625 23,215
31,462

103 102 12 31
948 1,003

1031231 1021231 $ 986 $ 866 577,249 222,827 3

279

0.85%~1.25%
0.33%~1.25% 0.40%~0.63% 0.62%~0.65% 0.38%~1.37% 0.38%~1.37%



$ 5,500 $ 5,500 18,928 18,928 - - 24,428 24,428




4

98 3
400,380 3,120,000

40% 99 3 30
22%
265,210 1,263
99 4 5
( ) 102 3
45%


1031231 1021231 $ 2,423 $ 5,952 - - $ 2,423 $ 5,952 $ 278,375 $ 583,387 ( 13,586 ) ( 14,465 ) $ 264,789 $ 568,922 $ 33,000 $ 1,400 3,540 1,599 $ 36,540 $ 2,999
281
12 31


1031231 1021231 90 $ - $ - 91 120 29,388 59,798 120 52,438 34,102 $ 81,826 $ 93,900
282


103 1 1 $ 14,279 $ 186 $ 14,465 ( 846 ) ( 186 ) ( 1,032 ) 153 - 153 103 12 31 $ 13,586 $ - $ 13,586 102 1 1 $ 74,273 $ 137 $ 74,410 ( 20,239 ) 49 ( 20,190 ) ( 39,895 ) - ( 39,895 ) 140 - 140 102 12 31 $ 14,279 $ 186 $ 14,465

1031231 1021231 90 $ - $ - 91 120 - - 120 13,586 14,279 $ 13,586 $ 14,279
103 102
12 31 1,290






103 USD 4,286 USD 4,286 USD - USD - - $ 150,000 SGD 7,884 SGD 7,884 SGD - SGD - 102 USD 3,931 USD 3,931 USD - USD - - $ 325,000 SGD 4,780 SGD 4,780 SGD - SGD -



$ 1,264 $ 1,264
227,448

1031231 1021231 $ 23,178 $ 18,501 10,884 16,326 2,380 17,381 1,400 8,915 100,634 45,346 14,831 2,288 $ 153,307 $ 108,757

1031231 1021231 $226,035 $ 253,212 49,779 60,640 193,468 222,782 11,746 14,007 481,028 550,641 120,876 125,773 $ 360,152 $ 424,868
103 102 1,333,884
1,183,336 103 102
5,279 34,038 103

284


102 1 1 $ 209,528 $ 97,162 $ 468,535 $ - $ 14,973 $ 10,544 $ 38,262 $ 8,655 $ 662 $ 848,321 - 356 14,511 - 11,990 15,433 232 - 197,756 240,278 - ( 1,040 ) ( 1,240 ) - ( 236 ) ( 235 ) - - - ( 2,751 ) - 1,458 6,478 - 118 ( 18 ) - 128 - 8,164 - - - - - - - 8,469 - 8,469 - 1,000 2,016 - - 666 1,207 - 69,821 74,710 102 12 31 $ 209,528 $ 98,936 $ 490,300 $ - $ 26,845 $ 26,390 $ 39,701 $ 17,252 $ 268,239 $ 1,177,191 102 1 1 $ - $ 33,178 $ 338,626 $ - $ 10,578 $ 6,362 $ 17,522 $ 2,179 $ - $ 408,445 - ( 440 ) ( 1,224 ) - ( 169 ) ( 235 ) - - - ( 2,068 ) - 4,291 32,222 - 3,019 1,485 3,882 817 - 45,716 - - 29 - - - - - - 29 - 564 3,714 - 98 ( 17 ) - 85 - 4,444 102 12 31 $ - $ 37,593 $ 373,367 $ - $ 13,526 $ 7,595 $ 21,404 $ 3,081 $ - $ 456,566 102 12 31 $ 209,528 $ 61,343 $ 116,933 $ - $ 13,319 $ 18,795 $ 18,297 $ 14,171 $ 268,239 $ 720,625 103 1 1 $ 209,528 $ 98,936 $ 490,300 $ - $ 26,845 $ 26,390 $ 39,701 $ 17,252 $ 268,239 $ 1,177,191 - - 20,599 6,878 11,594 558 835 756 549,073 590,293 - - ( 270 ) - ( 4,133 ) - - - - ( 4,403 ) - 1,084 4,856 - 172 42 - 92 - 6,246 - - 2,600 - - 48,948 - - 51,548 4,150 6,837 - - - - - - - 10,987 - 3,759 - 291,777 - - - - ( 380,172 ) ( 84,636 ) 103 12 31 $ 213,678 $ 110,616 $ 518,085 $ 298,655 $ 34,478 $ 26,990 $ 89,484 $ 18,100 $ 437,140 $ 1,747,226 103 1 1 $ - $ 37,593 $ 373,367 $ - $ 13,526 $ 7,595 $ 21,404 $ 3,081 $ - $ 456,566 - - ( 108 ) - ( 2,651 ) - - - - ( 2,759 ) - 4,686 34,201 3,012 4,013 2,884 4,031 1,830 - 54,657 - 3,302 - - - - - - - 3,302 - 517 3,714 - 86 34 - 80 - 4,431 103 12 31 $ - $ 46,098 $ 411,174 $ 3,012 $ 14,974 $ 10,513 $ 25,435 $ 4,991 $ - $ 516,197 103 12 31 $ 213,678 $ 64,518 $ 106,911 $ 295,643 $ 19,504 $ 16,477 $ 64,049 $ 13,109 $ 437,140 $ 1,231,029



2040 713 326 210 313 315 510 115 510


102 1 1 $ 45,355 - 102 12 31 $ 45,355 102 1 1 $ 13,178 715 102 12 31 $ 13,893 102 12 31 $ 31,462 103 1 1 $ 45,355 ( 10,987 ) 103 12 31 $ 34,368 103 1 1 $ 13,893 562 ( 3,302 ) 103 12 31 $ 11,153 103 12 31 $ 23,215

103 102
12 31 250,433 286,290


102 1 1 $ 39,705 $ 6,156 $ 2,165 $ 48,026 216,530 - 208,836 425,366 ( 39,705 ) - ( 106 ) ( 39,811 ) - 323 ( 6 ) 317 102 12 31 $ 216,530 $ 6,479 $ 210,889 $ 433,898 102 1 1 $ - $ 2,442 $ 1,799 $ 4,241 - 659 3,273 3,932 - - ( 29 ) ( 29 ) - 193 ( 4 ) 189 102 12 31 $ - $ 3,294 $ 5,039 $ 8,333 102 12 31 $ 216,530 $ 3,185 $ 205,850 $ 425,565 103 1 1 $ 216,530 $ 6,479 $ 210,889 $ 433,898 410,326 - 746 411,072 - 240 2 242 103 12 31 $ 626,856 $ 6,719 $ 211,637 $ 845,212 103 1 1 $ - $ 3,294 $ 5,039 $ 8,333 535 670 21,316 22,521 - 147 1 148 103 12 31 $ 535 $ 4,111 $ 26,356 $ 31,002 103 12 31 $ 626,321 $ 2,608 $ 185,281 $ 814,210
101 1
60,000
101 7 30
NCC
54,288

103 12 31

125
12
329,226 160,836




1031231 1021231 $ 150,000 $ 188,769 $ 150,000 $ - 481 - $ 149,519 $ -

288

1031231 1021231 $ 1,031,125 $ 217,143 309,387 376,875 266,682 102,060 $ 1,073,830 $ 491,958
( ) 103 102 12 31
16,004 100,795
2.50%-3.17%
2.50%
15,000
2.868%-3.038%
119,428
56,022
102
110
6 103 102 12 31
1.74%~3.30% 1.74%~1.75%

( ) 108 10 103
102 12 31 1.85%~3.00%


1031231 1021231 $ 3,429 $ 16,334 - - $ 3,429 $ 16,334 $ 250,240 $ 397,562
3
12 31 1,264


1031231 1021231 $ 38,673 $ 33,960 11,352 - 10,310 12,912 2,040 16,886 1,709 8,651 4,784 11,041 31,085 23,288 $ 99,953 $ 106,738

3 280,000
( )
( ) 2 105 3 13
102.01%
1 103 4 14
40
( ) 1 103 4 14
10 106 3 3

101%
38.9
1.5% 103 8 11
38.1
103 12 31 258,000


55
55
708

( $ 256,193 ) ( $ 302 ) ( 2,023 ) - - 441 237,634 - 103 12 31 ( $ 20,582 ) $ 139

1031231 1021231 $ 15,233 $ 14,873 1,938 - 14,847 8,613 $ 32,018 $ 23,486
103 1 1 $ 14,873 360 103 12 31 $ 15,233

8,670 7,719


1031231 1021231 1.875% 1.750% 2.000% 2.000% 2.000% 2.000%


293

103 102 $ 66 $ 56 267 252 ( 329 ) ( 367 ) $ 4 ( $ 59 ) $ - $ 200 $ 4 ( $ 259 )
103 102 413 459
103 102 12 31
1,993 1,580


1031231 1021231 ( $ 15,630 ) ( $ 15,244 ) 16,578 16,247 $ 948 $ 1,003
103 102 $ 15,244 $ 18,353 66 56 267 252 490 321 ( 437 ) ( 3,738 ) $ 15,630 $ 15,244
103 102 $ 16,247 $ 19,377 329 367 77 ( 138 ) 361 379 ( 436 ) ( 3,738 ) $ 16,578 $ 16,247
294



1031231 1021231 19.12 22.86 1.98 4.10 11.92 9.37 14.46 18.11 49.69 44.77 2.83 0.79 100.00 100.00
IFRSs 101 1 1

( $ 412 ) ( $ 827 ) ( $ 918 ) $ -
$ 77 ( $ 138 ) ( $ 202 ) $ -
103 102
369

93,602 79,060 $ 936,024 $ 790,600
295


102 1 1 69,060 $ 690,600 $ 130,380 10,000 100,000 230,000 102 12 31 79,060 $ 790,600 $ 360,380 103 1 1 79,060 $ 790,600 $ 360,380 8,000 80,000 188,000 6,542 65,424 - 103 12 31 93,602 $ 936,024 $ 548,380
10
330,000 10,000 33
102 1 25
102 2 8
102 12 17
8,000 33.5
103 4 18 103
4 30
( )
12 31 6,542 92
919 104 1
28
( )

296


4,409

40.0 33.5 31.5 % 54 0.49%

10,440 1,875 2,472


1010012865
1010047490 IFRSs



298
103 6 24 102 6 10
102 101