MIRA
INFORM REPORT
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Report Date : |
05.07.2007 |
IDENTIFICATION DETAILS
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Name : |
GOLDRESOURCE DEVELOPMENT LTD |
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Registered Office : |
8 Floor, |
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Country : |
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RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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Status : |
Offshore |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
COMPANY NAME &
ADDRESS
GOLDRESOURCE DEVELOPMENT LTD
8FL,
TEL :886-4-23216316
FAX :886-4-23217483
EXECUTIVE SUMMARY
INCORPORATION DATE : N/A
REGISTRATION NO. : N/A
LEGAL FORM : N/A
CHIEF EXECUTIVE : MS. YU-HSUAN CHEN (MANAGER)
STAFF STRENGTH : N/A
CAPITAL : N/A
BUSINESS LINE : N/A
TURNOVER : N/A (AS OF DEC. 31, 2006)
EQUITIES : N/A (AS OF DEC. 31, 2006)
PAYMENT : N/A
RECOMM.
MARKET CONDITION : N/A
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : N/A
GENERAL REPUTATION : N/A
EXCHANGE RATE : TWD 32.80484 = US$1 AS OF 2007-7-5
*Office & Facilities*
===============
The Subject Business Entity is managed by the same management team of NESI TRADING CO LTD working from the above listed address. Office details include:
Size : 1,043 sq meters
Location :
Property status : Rented from CATHAY LIFE INSURANCE CO LTD
Type of building : Commercial building
Other e-mail : sunny_shen@goldresource.com.tw
E-mail: planning@goldresource.com.tw
For the past two years there is no record of litigation.
SC management declined to release their management background details.
Management: Ms. Yu-hsuan Chen, Manager
Name Nationality Job Description Dept. / Division
Ms. Yu-hsuan Chen Taiwanese Manager Administration
*Company Registration*
===================
The Taiwan Registrar of Companies was checked and there is no company registered with this name.
Due to field investigations held at the premises listed above, the following facts were revealed by the person interviewed at this address:
- They recognized the name "GOLDRESOURCE DEVELOPMENT LTD".
- They reconfirmed that this business entity is NOT registered
in
- They confirmed that the company was an overseas registered company, registered in British Virgin Islands (BVI)
- They confirmed that this company license (BVI registered) is
used for tax purposes and the
license being used for daily business is for NESI TRADING CO LTD.
*International Trade Activity*
=======================
Not applicable, since the Subject Business Entity is not
licensed to operate in
*(Subsidiaries, Joint-ventures & Affiliates)
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Company Name : NESI TRADING CO LTD
Address :
8Fl,
Country :
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Trader
Industry :
Leather Goods, Tanned & Imitation
PAYMENT RATING :NR OBTAINED SCORES : No Data
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Rating Key |
Implication |
Implications |
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1 |
Scores 85–100 |
Excellent |
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2 |
Scores 75 – 84 |
Above Average |
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3 |
Scores 50 – 74 |
Average |
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4 |
Scores 35 – 49 |
Fair |
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5 |
Scores 15 – 34 |
Below Average |
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6 |
Scores 01 – 14 |
Poor |
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NR |
No Data |
No Data |
The rating indicates
the payment pattern of SC based upon our Payment Database, comments from
suppliers of SC, information from banks (if available), as well as industrial
sources.
SC’s management declined to release any financial information at present.
In view of our finding of SC's principals & SC's operation style, great caution is required in providing credit to SC & COD is recommended.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)