MIRA INFORM REPORT

Report Date :

28.02.2007

IDENTIFICATION DETAILS

Name :	MOHIT GEMS
Registered Office :	Rm M, 9/F, Blk B, Golden Glory Mansion, 16 Carnavon Road, Tst, Kowloon
Country :	Hong Kong
Date of Incorporation :	13-6-1997
Com. Reg. No.:	21011682
Legal Form :	Sole Proprietorship
Line of Business :	Engaged in import & export of diamond.

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 :	Regular
Litigation :	Clear

Name & address

MOHIT GEMS

RM M, 9/F, BLK B, GOLDEN GLORY MANSION,

16 CARNAVON ROAD, TST, KOWLOON, HONG KONG.

TEL: 852 93470447 (MOBILE NO.) / 23670499 (OFFICE NO.)

FAX: 852 23671499

EXECUTIVE SUMMARY

INCORPORATION DATE : 13-6-1997

REGISTRATION NO. : 21011682

REGISTERED LEGAL FORM : SOLE PROPRIETORSHIP

CHIEF EXECUTIVE : PATEL MAHESHKUMAR ZAVER BHAI (SOLE

PROPRIETOR)

STAFF STRENGTH : 2

AUTHORIZED CAPITAL : [IN HONG KONG, UNLIMITED COS. ARE NOT REQUIRED

TO FILE ITS CAPITAL PARTICULARS TO BR OFFICE (THE

INLAND REVENUE)]

PAID-UP CAPITAL : NOT APPLICABLE

BUSINESS LINE : IMPORT & EXPORT OF DIAMOND

TURNOVER : N/A (AS OF DEC. 31, 2005)

EQUITIES : N/A (AS OF DEC. 31, 2005)

PAYMENT : AVERAGE

RECOMM. CREDIT RANGE : MODERATE AMOUNT

MARKET CONDITION : COMPETITIVE

FINANCIAL CONDITION : STABLE

OPERATIONAL TREND : FAIRLY STEADY

GENERAL REPUTATION : AVERAGE

EXCHANGE RATE : HKD 7.77554 = USD1 AS OF 2006-08-22

The correct address of SC is the heading one instead of the address given by you. Your given address is a post office no. in Tsimshatsui post office.

SC was established under Business Registration number 21011682 on 13-6-1997 with present status as sole proprietorship.

Currently obtained BR copy indicate the particulars of SC's principal(s) are as follows:

Name(s) of principal(s) & ID/Passport number(s) Registered address

- Patel Maheshkumar Zaver Bhai Unit E, 11/F, Union Mansion,

/ Q320002 33-35 Chatham Road,

TST, Kowloon, HONG KONG.

Change in principal(s):

Name(s) of admitted partner(s) Joining date

Nil Nil

Name(s) of retired partner(s) Leaving date

Rajubhai Vallabhbhai 1-7-2003

Change of business address : SC moved to the heading business address from Blk 1, 17/F, Star Mansion, 3-5 Minden Ave., TST, Kowloon, HONG KONG in Feb 2004.

This section will contain the civil litigations & winding-up petitions filed against SC for the last 6 years (as stored in our database), and the mortgage/charge filed by SC for the last 2 years. In Hong Kong, creation of such mortgages/charges by an unlimited co is not required to be registered in the public records.

Civil litigation/winding-up petitions : None in our database.

Mortgage/charge record(s) : In HONG KONG, unlimited companies are not required to file its charge particulars for public inspection.

Patel Maheshkumar Zaver Bhai, sole proprietor:

- In his 40's

- He is by Indian nationality

Upon a current contact, Patel Maheshkumar Zaver Bhai disclosed that he is currently residing in India and will come back to Hong Kong in mid Sept 2006.

Registered residential address: As stated above.

Property ownership: Current land search indicates the said premises ownership as follows:

- Owner(s) : Wong Pik Yee

- Date of purchase & consideration : 30-9-1999 / HKD2,618,000

- Date of mortgage & secured amount : NA

- Mortgagee : NA

Credit history check : This refers to a check of our database whether the said person has been involved in any of the following records stored by us within the last 6 years:

Civil litigation as defendants : None in our database

Bankruptcy/winding-up petitions : None in our database

Delinquent payment records : None in our database

Debt collection records : No overdue amount owed by the said person was placed to us

for collection

Ownership background appraisal:

Rating :3 Obtained scores : 55 (see explanatory notes below)

Keys :1 : scores 81-100 : Excellent

2 : scores 61-80 : Good

3 : scores 46-60 : Average

4 : scores 21-45 : Fair

5 : scores 01-20 : Poor

The rating indicates the personal financial & operational strength of SC's major principals. It is calculated from a composite of scores obtained from the following 5 factors which carry equal weight in our analysis:

Personal financial strength, credit history & trade reputation, business experience & track record, market connection and management skill.

Business categories :

SC is engaged in import & export of diamond.

Items available include ruby, sapphire, black diamond, emarald, jadelite, citrine, topaz, garnet & opal.

Principal purchases :

Major types of sourcing : Diamond

Local--type of suppliers : Nil

Buying terms : Nil

Overseas--supplying countries : India, Belgium & USA

Buying terms : L/C & T/T

Principal market :

Local--type of customers : Nil

Selling terms : Nil

Overseas--buying countries : PR China

Selling terms : L/C & T/T

Total number of employees : 2.

Location : Maintaining its office at the heading business address which occupies a gross area of 600 square feet at a commercial & residential building in a residential district.

Condition inside the premises during our visit : Normal.

Office/factory layout : Standard.

The premises is rented.

SC is not known to have any subsidiary at present.

Overall payment appraisal :

( ) Excellent ( ) Good (X) Average ( ) Fair ( ) Poor ( ) Not yet determined

The appraisal serves as a reference to reveal SC's payments habits and ability to pay. It is based on the 3 weighed factors: Trade payment experience (through current enquiry with SC's suppliers), our delinquent payment records and our debt collection record concerning SC.

Trade payment experience : Owing to the nature of its business, SC is not an active seeker of local commerical credit since merchandise/materials are imported. Its expenses in the form of accruals and servicing are reportedly met in prompt manner.

Delinquent payment record : None in our database.

Debt collection record : No overdue amount owed by SC was placed to us for collection within the last 6 years.

Banking relations are maintained principally with:

- Bank of India

- Bank of China (HONG KONG) Ltd.

Upon a current contact, Patel Maheshkumar Zaver Bhai, SC's sole proprietor, declined forwarding any financial information on the ground that it is the company's policy not releasing any data to a third party without the benefit of knowing the identity of the inquiring party.

SC is considered small-sized in its line locally with acceptable base to meet its normal dealings. Credit up to moderate amount may be considered.

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	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.	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
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

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