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Report No. : |
340716 |
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Report Date : |
16.09.2015 |
IDENTIFICATION DETAILS
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Name : |
GOLDEN DRAGON INTERNATIONAL LTD |
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Registered Office : |
C/O: The Trust Company of The Marshall Islands, Inc. - Trust Company Complex, Ajeltake Road, Ajeltake Island, MH 96960, Majuro |
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Country : |
Marshall Islands |
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Date of Incorporation : |
31.12.2008 |
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Com. Reg. No.: |
33666 |
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Legal Form : |
International Business Company |
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Line of Business : |
Offshore Company. |
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No. of Employees : |
Not Available |
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 : |
International Business Company |
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Payment Behaviour : |
Unknown |
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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 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Marshall Islands |
C2 |
C2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
MARSHALL ISLANDS - ECONOMIC
OVERVIEW
US assistance and lease payments for the use of Kwajalein
Atoll as a US military base are the mainstay of this small island country. The
Marshall Islands received roughly $1 billion in aid from the US during
1986-2001 under the original Compact of Free Association (Compact). In 2002 and
2003, the US and the Marshall Islands renegotiated the Compact's financial
package for a 20-year period, from 2004 to 2024. Under the amended Compact, the
Marshall Islands will receive roughly $1.5 billion in direct US assistance.
Agricultural production, primarily subsistence, is concentrated on small farms;
the most important commercial crops are coconuts and breadfruit. Industry is
limited to handicrafts, tuna processing, and copra. Tourism holds some
potential. The islands and atolls have few natural resources, and imports
exceed exports. Under the amended Compact, the US is also funding, jointly with
the Marshall Islands, a Trust Fund for the people of the Marshall Islands that
will provide an income stream beyond 2024 when direct Compact aid is to end.
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Source
: CIA |
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IDENTIFICATION |
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Legal Name: |
GOLDEN DRAGON INTERNATIONAL LTD |
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Legal Address |
C/O: The Trust Company Of The
Marshall Islands, Inc. - Trust Company Complex, Ajeltake Road |
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Postal Town |
Ajeltake Island |
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Post Code |
MH 96960 |
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Primary Geographic Area |
Majuro |
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Country |
MH |
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Telephone: |
N.A. |
Registration Number: |
33666 |
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Fax: |
N.A. |
Legal Form: |
International Business Company |
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Email: |
N.A |
Registered in: |
MH |
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Website: |
N.A. |
Date Created: |
2008 |
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Manager: |
N.A |
Date Incorporated: |
December 31st. 2008 |
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Staff: |
0 |
Stock: |
N.A. |
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Value: |
N.A. |
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Activity: |
Offshore Company. |
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Management: |
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It is locally managed by the
registered agent mentioned above. The agent refused to provide any
information on the company which is protected by the laws of non disclosure. |
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Legal Filings |
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The sources consulted record no detrimental
legal or labor court information. |
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Public |
NO |
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Shareholders Parent Company(ies): |
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The company is owned by foreign
shareholders. |
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Trade References: |
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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. |
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PAYMENTS |
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Made on a 20 days basis -
monitored over the last 12 months |
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DEBT COLLECTIONS AND PAYMENTS |
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Payments |
REGULAR |
N/A
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FINANCIALS - COMMERCIAL TRENDS
AND FORECAST |
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As a private company the
subject does not publish any financial statements. |
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However our financial sources
could provide us with the following data. Those figures are estimates
provided by confidential banking and financial institutions working with the
company. |
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Currency |
DATE |
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USD |
2014 |
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Turnover |
0 |
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Operating Income |
3 830 000 |
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Net Income |
3 830 000 |
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Net worth |
37 100 000 |
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Bank liabilities |
0 |
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The cash flow is |
Good |
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FINANCIAL SUMMARY |
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Profitability |
GOOD |
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Indebtedness |
NIL |
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Cash |
GOOD |
N/A
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GEOPOLITICS - MARSHALL ISLANDS |
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Republic |
Currency: USD |
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BANKS |
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Name of the Bank |
BOMI |
PRINCIPAL
ACTIVITY
At the address
requested is located the office of The Trust Company of the Marshall Islands, which
is the registered agent for all the foreign companies incorporated in the
Marshall Islands.
From The Trust
Company of the Marshall Islands:
In accordance
with the of the Trust Company of the Marshall Islands, Inc., The Republic of
the Marshall Islands Registrar of Corporations, the above Corporation filed
Articles of Incorporation on Dec. 31st. 2008 and remains an existing
Corporation.
The registered
address of the Corporation in the Marshall Islands is Trust Company Complex, Ajeltake
Road, Ajeltake Island, Majuro, Marshall Islands MH96960. The name of the
corporation's
registered agent at such address is The Trust Company of the Marshall Islands,
Inc.
Pursuant to
the Marshall Islands Business Corporations Act, Marshall Islands non-resident
domestic corporations are not required to publicly file information with the
Registrar of Corporations regarding the company's business activities,
accounts, directors, officers, or shareholders. As such the Trust Company of
the Marshall Islands, Inc. is unable to produce any such information.
Golden Dragon
International Limited is an International Business Company / Offshore Company
incorporated in The Marshall Islands for tax purposes.
However the
company does not carry any operation in The Marshall Islands.
It is not
registered with The Marshall Islands Chamber of Commerce as being an active
business.
It is not
listed with The Marshall Islands yellow pages.
It is not
listed with the major local credit bureaus.
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The subject employs 0 employee(s) |
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Comments on staff: |
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The company does not have any
employee in The Marshall Islands. It uses the registered agent staff. |
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Business Overview: |
Business Licenses:
For a foreign investor
to do business in the Marshall Islands as an individual, a partnership, a joint
venture, or a corporation (domestic or foreign), the investor must first obtain
a Foreign Investment Business License.
Application
forms for a Foreign Investment Business License may be obtained from the
Registrar of Foreign Investment in the Office of the Attorney General.
Applications
are then reviewed by the sectoral Ministries and Agencies.
The process of
review and approval normally takes no longer than four to six weeks (often
less).
The National
Government does not require foreign investors to obtain any other licenses,
unless they are involved in regulated activities (e.g., the practice of law,
the practice of medicine, banking, fishing, fishing base operation, etc.).
If a business
entity has a Foreign Investment Business License, it need not obtain a business
license from the local government in whose jurisdiction it operates for a
period of one year from the date of issuance of the foreign investment license.
Foreign
Corporations:
If an investor
chooses to do business in the Marshall Islands through a foreign corporation,
partnership, trust, unincorporated association, or other entity, he/she can
file with the Registrar of Corporations an Application for Registration of a
Foreign Entity to do Business in the Marshall Islands.
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Listed at the stock exchange: |
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NO |
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Final Opinion |
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We are reporting an offshore company
which belongs to foreign shareholders. Although it is registered in The
Marshall Islands, 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 subject. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.44 |
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|
1 |
Rs.102.41 |
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Euro |
1 |
Rs.75.05 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
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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-- |
NB |
New Business |
-- |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.