MIRA INFORM REPORT

Report Date :

23.12.2014

IDENTIFICATION DETAILS

Name :	ESILICON CORPORATION
Registered Office :	2130 Gold Street, Ste 100, San Jose, CA 95002
Country :	United State
Date of Incorporation :	22.11.1999
Legal Form :	Corporation – Profit
Line of Business :	Provides semiconductor designing and manufacturing solutions to original equipment manufacturers, independent device manufacturers, semiconductor companies, and wafer foundries.
No. of Employee :	192

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	Slow but correct
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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
United State	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

UNITED STATE ECONOMIC OVERVIEW

The US has the largest and most technologically powerful economy in the world, with a per capita GDP of $49,800. In this market-oriented economy, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, they face higher barriers to enter their rivals' home markets than foreign firms face entering US markets. US firms are at or near the forefront in technological advances, especially in computers and in medical, aerospace, and military equipment; their advantage has narrowed since the end of World War II. The onrush of technology largely explains the gradual development of a "two-tier labor market" in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. Since 1975, practically all the gains in household income have gone to the top 20% of households. Since 1996, dividends and capital gains have grown faster than wages or any other category of after-tax income. Imported oil accounts for nearly 55% of US consumption. Crude oil prices doubled between 2001 and 2006, the year home prices peaked; higher gasoline prices ate into consumers' budgets and many individuals fell behind in their mortgage payments. Oil prices climbed another 50% between 2006 and 2008, and bank foreclosures more than doubled in the same period. Besides dampening the housing market, soaring oil prices caused a drop in the value of the dollar and a deterioration in the US merchandise trade deficit, which peaked at $840 billion in 2008. The sub-prime mortgage crisis, falling home prices, investment bank failures, tight credit, and the global economic downturn pushed the United States into a recession by mid-2008. GDP contracted until the third quarter of 2009, making this the deepest and longest downturn since the Great Depression. To help stabilize financial markets, in October 2008 the US Congress established a $700 billion Troubled Asset Relief Program (TARP). The government used some of these funds to purchase equity in US banks and industrial corporations, much of which had been returned to the government by early 2011. In January 2009 the US Congress passed and President Barack OBAMA signed a bill providing an additional $787 billion fiscal stimulus to be used over 10 years - two-thirds on additional spending and one-third on tax cuts - to create jobs and to help the economy recover. In 2010 and 2011, the federal budget deficit reached nearly 9% of GDP. In 2012 the federal government reduced the growth of spending and the deficit shrank to 7.6% of GDP. Wars in Iraq and Afghanistan required major shifts in national resources from civilian to military purposes and contributed to the growth of the budget deficit and public debt. Through 2011, the direct costs of the wars totaled nearly $900 billion, according to US government figures. US revenues from taxes and other sources are lower, as a percentage of GDP, than those of most other countries. In March 2010, President OBAMA signed into law the Patient Protection and Affordable Care Act, a health insurance reform that was designed to extend coverage to an additional 32 million American citizens by 2016, through private health insurance for the general population and Medicaid for the impoverished. Total spending on health care - public plus private - rose from 9.0% of GDP in 1980 to 17.9% in 2010. In July 2010, the president signed the DODD-FRANK Wall Street Reform and Consumer Protection Act, a law designed to promote financial stability by protecting consumers from financial abuses, ending taxpayer bailouts of financial firms, dealing with troubled banks that are "too big to fail," and improving accountability and transparency in the financial system - in particular, by requiring certain financial derivatives to be traded in markets that are subject to government regulation and oversight. In December 2012, the Federal Reserve Board (Fed) announced plans to purchase $85 billion per month of mortgage-backed and Treasury securities in an effort to hold down long-term interest rates, and to keep short term rates near zero until unemployment drops below 6.5% or inflation rises above 2.5%. In late 2013, the Fed announced that it would begin scaling back long-term bond purchases to $75 billion per month in January 2014 and reduce them further as conditions warranted; the Fed, however, would keep short-term rates near zero so long as unemployment and inflation had not crossed the previously stated thresholds. Long-term problems include stagnation of wages for lower-income families, inadequate investment in deteriorating infrastructure, rapidly rising medical and pension costs of an aging population, energy shortages, and sizable current account and budget deficits.

Source : CIA

Company name and address

ESILICON CORPORATION

Address: 2130 Gold Street, Ste 100, San Jose, CA 95002 - USA

Telephone: +1 408-635-6300

Fax: +1 408-635-6499

Website: www.esilicon.com

Corporate ID#: 3129234

State: Delaware

Judicial form: Corporation – Profit

Date incorporated: 11-22-1999

Stock: -

Value: -

Name of manager: John R. HARDING

ACTIVITIES & OPERATIONS

IST

Business:

eSilicon Corporation provides semiconductor designing and manufacturing solutions to original equipment manufacturers, independent device manufacturers, semiconductor companies, and wafer foundries.

It offers a comprehensive suite of ASIC and SoC design, productization, and manufacturing services; and develops chips.

The company provides traditional ASIC design services, custom memory IP solutions, multi-project wafer services, and semiconductor manufacturing services, as well as sub-system design optimization, custom 3D and 2.5D packaging, and component auto-generation system for test chip services; and an automated online GDSII quote system for TSMC. It serves clients in communications, computer, consumer, industrial products, and medical segments in the Americas, Europe, the Middle East, Africa, Asia, and internationally.

eSilicon Corporation was incorporated in 1999 and is based in San Jose, California with locations in North America, Europe, and Asia.

Office of the Foreign Assets Control (OFAC):

The company is not listed on the OFAC list.

The Specially Designated Nationals (SDN) List is a publication of OFAC which lists individuals and organizations with whom United States citizens and permanent residents are prohibited from doing business.

No name of foreign suppliers available.

EIN: 77-0528172

Staff: 192

Operations & branches:

At the headquarters, we find the corporate office.

The Company maintains branches located:

890 Mountain Avenue, Suite 215

New Providence, NJ 07974

1605 North Cedar Crest Blvd., Suite 615

Allentown, PA 18104

SHAREHOLDERS & MANAGERS

Shareholders:

This is a private Company.

Management:

John R. HARDING, also known as Jack, co-founded eSilicon Corporation in March 2000 and serves as its Chief Executive Officer and President.

Mr. Harding has more than 25 years of executive management experience in the electronics industry. He served as the Chairman and Chief Executive Officer of Borealis Capital Corporation. He served as the President and Chief Executive Officer of Cadence Design Systems, Inc. from October 1997 to April 1999 and Cooper & Chyan Technology from December 1994 to May 1997. Before joining Cooper & Chyan Technology in December 1994, he served as an Executive Vice President of Worldwide Sales and Marketing of Zycad Corporation ('Zycad') from January 1992 to October 1994, President of Protocol Services Division from January 1990 to December 1991 and held various other management positions from January 1984 to January 1990.

Prior to January 1984, Mr. Harding also served at TXL Corporation IBM Corporation. He served as Chairman of eSilicon Corporation and inSilicon Corporation. He has been a Director at RF Micro Devices Inc. (RFMD) since November 1, 2006, and Advanced Micro Devices, Inc. since August 28, 2012.

He serves as a Director of eSilicon. He served as a Director of Marimba Inc. since October 2003 and Cooper & Chyan Technology since September 1995.

Mr. Harding served as a Director of Cadence. He served as Vice Chairman of the Board of Trustees of Drew University. He is a Senior Fellow at the Institute for Development Strategies and a Member of the Board of Visitors for the School of Public and Environmental Affairs at Indiana University.

He is a Member of the Council on Competitiveness, a Washington, D.C. He serves as Director of the Global Semiconductor Alliance (GSA). He is a National Academies' Member of the committee on Software, Growth, and the Future of the U.S. Economy. He is a frequent Lecturer on innovation and entrepreneurship.

He is a regular Lecturer on global technology trends.

Mr. Harding received a Bachelor of Arts in Chemistry and Economics from Drew University in 1977 and attended the Stern School of Business at New York University.

Warren LIGAN is the CFO.

Subsidiaries and partnership:

The Company maintains several subsidiaries in Asia and Europe.

FINANCIALS

In United States, privately held corporations are not required to publish any financials.

On a direct call, a financial assistant controlled the present report.

Sales declared for year 2013 is in the range of USD 45,800,000=

The business is said to be profitable.

Banks: Wells Fargo Bank

LEGAL FILINGS

Legal filings & complaints:

As of today date, there is no legal filing pending with the Courts.

Secured debts summary (UCC): None

COMPANY CREDIT HISTORY

Trade references:

Date reported: December 2014

High credit: USD 100,000

Now owing: 0

Past due: 0

Last purchase: November 2014

Line of business: Office supply

Paying status: 20 days beyond terms

Date reported: December 2014

High credit: USD 300,000

Now owing: 0

Past due: 0

Last purchase: November 2014

Line of business: Payroll

Paying status: As agreed

Date reported: December 2014

High credit: USD 3,000

Now owing: 0

Past due: 0

Last purchase: November 2014

Line of business: Telecommunications

Paying status: 12 days beyond terms

Domestic credit history

Domestic credit history appears as follow:

Monthly Payment Trends - Recent Activity

Date	Balance	Current	Up to 30 DBT	31-60 DBT	61-90 DBT	>90 DBT
07/14	$291,100	77%	18%	2%	1%	2%
08/14	$438,500	40%	56%	1%	0%	3%
09/14	$561,000	54%	41%	4%	0%	1%
10/14	$753,500	39%	38%	22%	1%	0%
11/14	$919,000	58%	16%	23%	3%	0%
12/14	$827,100	60%	19%	17%	4%	0%

National Credit Bureaus gave a medium credit rating.

According to our credit analysts, during the last 6 months, domestic payments were made with an average of 10 to 20 days beyond terms.

The Company is improving its payments, but the cash remains low.

Other comments

The Company maintains its business.

The Company is in good standing.

This means that all local and federal taxes were paid on due date.

The risk is medium.

Our opinion

A business connection may be conducted but we suggest you to check regularly the way of payments.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.17
UK Pound	1	Rs.98.85
Euro	1	Rs.77.42

INFORMATION DETAILS

Analysis Done by :	KAR
Report Prepared by :	ANK

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%)

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