MIRA INFORM REPORT

 

 

Report Date :

14.11.2013

 

IDENTIFICATION DETAILS

 

Name :

SILERGY CORP

 

 

Registered Office :

A1501, Technology Mansion,  Eastern Software Park No.90, Wensan Rd.

 

 

Country :

Cayman Islands

 

 

Date of Incorporation :

07.02.2008

 

 

Legal Form :

International Business Company

 

 

Line of Business :

Offshore company

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Offshore Company

Payment Behaviour :

Unknown

Litigation :

Clear

 

 

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – March 31st, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Cayman Islands

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

CAYMAN ISLANDS - ECONOMIC OVERVIEW

 

With no direct taxation, the islands are a thriving offshore financial center. More than 93,000 companies were registered in the Cayman Islands as of 2008, including almost 300 banks, 800 insurers, and 10,000 mutual funds. A stock exchange was opened in 1997. Tourism is also a mainstay, accounting for about 70% of GDP and 75% of foreign currency earnings. The tourist industry is aimed at the luxury market and caters mainly to visitors from North America. Total tourist arrivals exceeded 1.9 million in 2008, with about half from the US. Nearly 90% of the islands' food and consumer goods must be imported. The Caymanians enjoy a standard of living comparable to that of Switzerland

Source : CIA

 

GEOPOLITICS - CAYMAN ISLANDS

POLITICAL DATA

ECONOMIC DATA

Form of Government: British overseas territory - Parliamentary system


Economic Risk: Nil

Currency: USD

Branch Situation:Medium

 

 

IDENTIFICATION

 

Ordered as:

SILERGY CORPORATION

Address in the order:

A1501, Technology Mansion,  Eastern Software Park No.90, Wensan Rd.

Comments on data supplied:

Dear client;

The address provided would be a location of Silergy Corp in china.

Legal Name:

SILERGY CORP

Legal Address

Oleander Way 802 West Bay Road

Postal Town

George Town

Post Code

N.A.

Primary Geographic Area

Grand Cayman

Country

KY

Mailing Address

P.O. Box 32052, Grand Cayman KY1-1208, Cayman

Telephone:

N.A.

Registration Number :

N.A.

Fax:

N.A.

Legal Form:

International Business Company

Email:

N.A.

Registered in:

KY

Website:

N.A.

Date Created:

N.A.

Manager:

N.A.

Date Incorporated:

February 7th, 2008

Staff:

N.A.

Stock:

N.A.

 

 

Value:

N.A.

Activity:

Offshore company

 

 

 

 

 

 

 

 

 

 

 

 

 

BANKS

Name of the Bank

Scotia Bank

Comments

This information was not verified by the company.

 

BUSINESSPRINCIPAL ACTIVITY

 

 

SILERGY CORP is an international business company / offshore company incorporated in Cayman Island for tax purposes.

 

However the company does not carry any operation in Cayman Island.

 

It is not registered with the Cayman Island chamber of commerce as being an active business.

 

It is not listed with the Cayman Island yellow pages.

 

It is not listed with the major local credit bureaus.

 

The company does not have any employee in Cayman Island. It uses  the registered agent staff.

 

Silergy Corp. designs, develops, manufactures, and markets various Power Management integrated circuits at Greater China Area.

 

SilergyCorp. received approval from the Listing Review Committee of Taiwan Stock Exchange for Primary Listing.

 

The Taiwan Stock Exchange Corporation held its 588th Listing Review Committee meeting on 24th September, 2013 and approved the application of Silergy Corp, for primary listing.

Trade References:

 

In virtue of the nature of its business activities its local transactions are seldom. Therefore, commercial sources consulted in the marketplace report that they are unable to establish subject's payment performance and general reputation regarding commitments contracted as same it is UNKNOWN as making use of credit facilities.

LOCATION

 

Headquarters

 

The following address is that of the registered agent:

 

Oleander Way 802 West Bay Road

P.O. Box 32052, Grand Cayman KY1-1208, Cayman

 

 

Shareholders - Manager - Related Companies

 

Capital:

 

Paid-in Capital at the time of application for listing: NT$ 550,598 thousand.-

Shareholders Parent Company(ies):

 

Silergy Corp. designs, develops, manufactures, and markets various Power Management integrated circuits at Greater China Area.

 

Their sales are done 100% in China (including Hong Kong).

 

Proportion of shares held by the Board of Directors: 7 directors with 26.21% (as of 2013/6/30).

Related Companies:

 

HANGZHOU

A1501, Technology Mansion, Eastern Software Park, No.90 Wensan Road, Hangzhou, Zhejiang

+86- 0571-87759971

Email: Sales@silergy.com

 

TAIWAN

14F., No.663, Bannan Road, Zhonghe District, Xinbei City, Taipei County 231, Taiwan

+886- 2-22215266

 

KOREA

102-1902 Dongyang Paragon, 1134-3 Ingye-Dong, Paldal-Gu, Suwon, Gyeonggi-Do, Korea

+82-070-8667-8127

 

SHENZHEN

Room 1009 International Culture Building, NO. 3039 Shennan Avenue,Futian District,Shenzhen,China ,518033

 

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

The subject company is registered as an International business company / offshore company in Cayman Island and is therefore exempt from filing and / or publishing annual audited accounts at the registrar of companies, under Cayman Island law. In addition, due to the laws of privacy governing disclosure of BANKING INFORMATION, we are unable to demand a copy of the subject's latest financial statements.

Comments on the financial data:

 

Profitbefore tax:

2010: NT$(64,713) thousand
2011: NT$(82,579) thousand
2012: NT$387,674 thousand

First Half year of 2013: NT$215,696 thousand

Earningper common share:
2010: NT$(7.50)
2011: NT$(8.12)
2012: NT$11.52

First Half year of 2013: NT$3.96

Legal Fillings

 The sources consulted record no detrimental legal or labor court information.

 

Rating

Local credit bureau did not rate this company.

 

 

 

Final Opinion

 

We are reporting an offshore company which belongs to foreign shareholders. Although it is registered in Cayman Island, it uses such territory only as its legal and administrative address, but all its operations are carried out abroad. It is managed by a resident registration agent and it is unknown in the marketplace, so its commercial morality and general reputation cannot be assessed, although nothing detrimental is noted upon request.

 

After our research and based on the financial information obtained we suggest a credit line for USD 100 000.

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

CORRECT

Public

NO

 

Indebtedness

CONTROLLED

Payments

REGULAR

 

Cash

NORMAL

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.65

UK Pound

1

Rs.101.17

Euro

1

Rs.85.55

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIS

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

New Business

 

--

 

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%)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.