MIRA INFORM REPORT

Report Date :

07.11.2007

IDENTIFICATION DETAILS

Name :	SURESH BROTHRS (HK) LTD

Registered Office :	Flat D, 9fl Chatham Plaza 8 Hart Ave Tsimshatsui Kowloon

Country :	Hong Kong

Date of Incorporation :	28.05.2003

Com. Reg. No.:	848191

Legal Form :	Private

Line of Business :	Import and local purchase of a wide range of jewelry

RATING & COMMENTS

MIRA’s Rating :

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

Status :	Satisfactory

Payment Behaviour :	No complaints

Litigation :	Clear

name and address

SURESH BROTHERS (HK) LTD

FLAT D, 9FL CHATHAM PLAZA 8 HART AVE

TSIMSHATSUI KOWLOON, HONG KONG.

TEL: 852-23680510 FAX: 852-23680398

EXECUTIVE SUMMARY

INCORPORATION DATE : MAY 28, 2003

REGISTRATION NO. : 848191

LEGAL FORM : PRIVATE

CHIEF EXECUTIVE : MR. BHARAT JAYANTILAL JAVERI (CHAIRMAN)

STAFF STRENGTH : 15

CAPITAL : US$ 3,000,000

BUSINESS LINE : TRADER

TURNOVER : N/A (AS OF DEC. 31, 2006)

EQUITIES : N/A (AS OF DEC. 31, 2006)

PAYMENT : FAIR

MARKET CONDITION : AVERAGE

FINANCIAL CONDITION : N/A

OPERATIONAL TREND : FAIRLY STEADY

GENERAL REPUTATION : AVERAGE

EXCHANGE RATE : HKD 7.76701 = US$1 AS OF 2007-11-7

Adopted abbreviations:

ANS - amount not stated

NS - not stated

SC - subject company (the company inquired by you)

NA - not available

M - million HKD –Hong Kong Dollars

*Company Registration*

===================

(1)

License number : 848191

Date issued : 28 May, 2003

Issuing authority : Companies Registry

Type of license : Corporate registration

(2)

License number : 33644720-000

Issuing authority : Inland Revenue Dept.

Type of license : Business

*Office & Facilities*

================

Other tel no. : 23680511

*Capital Details*

==============

Share value : USD 10.00/-each

Authorized capital : USD 3,000,000.00

Paid-up capital : USD 2,500,000.00 divided into 250,000 ordinary shares

*Reputation*

==========

Reference checking for the purpose of establishing the firm's reputation within the respective industry failed to reveal any negative information.

SC is not known to host website of its own at present.

E-mail: sbroshkg@biznetvigator.com

For the past two years there is no record of litigation.

*Major Shareholders*

=================

Total number of shareholders : 3

Total number of ordinary shares : 250,000

Shareholders' name No. of ordinary shares Amount of shares (USD) % of shares

--------------------------- ------------------------------- ---------------------------------- -----------------

Mr. Bharat Jayantilal Javeri 125,000 1,250,000.00 50.00

Mrs. Nandita Rajkumar Javeri 124,999 1,249,990.00 50.00

Mr. Rajkumar Jayantilal Javeri 1 10.00 0.00

*Directors' Details*

===============

(1)

Mr. Rajkumar Jayantilal Javeri

Passport No : Z1457707

Address : 6D IL Palazzo Little Gibbs Rd Malabar Hill Mumbai (Bombay) Maharashtra 400006 India

(2)

Mr. Dipak Dinkarlal Shah

HKID No : P340646(A)

Address : 13D Union Mansion 33 Chatham Rd Tsimshatsui Kowloon

*Company Secretary*

=================

DHUN'S MANAGEMENT SERVICES LTD

Address : 7Fl Man On Commercial Bldg 12-13 Jubilee St Central Hong Kong

CR No : 27006

*Key Personnel*

==============

Mr. Bharat Jayantilal Javeri

Passport No : E1031895

Address : 71A Grand Paradi Apartment Dady Seth Hill August Kranti Marg. Mumbai (Bombay)

Maharashtra 400036 India

Responsibility : Handles the overall management of the company.

*Main Products & Services*

======================

Specializes in the following areas of work :

1. Import and local purchase of a wide range of jewelry.

2. Sales and distribution of purchased products to local and international markets.

Products: Diamond jewelry

Jewelry

*Payment Terms*

=============

Sales

------

Local : Cash or Credit

Export : Letter of Credit (L/C)

Telegraphic Transfer (T/T)

Purchases

--------------

Local : Cash or Credit

Import : Letter of Credit (L/C)

Telegraphic Transfer (T/T)

*Quality Certification*

==================

Type of certification : ISO 9001

*Local Distribution Network*

=======================

Majority of the annual turnover is attributed to local sales.

*Export Markets*

==============

Small percentage of the annual turnover is attributed to export.

*Strategic Partners & Alliances*

=========================

Group/Alliance name : SURESH BROTHERS GROUP

Country : India

Group members : BHARAT & CO, Mumbai India

SURESH BROTHERS USA INC

MAIA (Fine Jewellery Stores)

DIAMSTAR BVBA, Belgium

ENCHANTE FINE JEWELRY, Belgium

INFINITY DIAMONDS, Japan

SURESH BROTHERS (HK) LTD

PAYMENT RATING : 4 OBTAINED SCORES : 47

Rating Key	Implication	Implications
1	Scores 85–100	Excellent
2	Scores 75 – 84	Above Average
3	Scores 50 – 74	Average
4	Scores 35 – 49	Fair
5	Scores 15 – 34	Below Average
6	Scores 01 – 14	Poor
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.

Dealings on open terms may be possible for SMALL amounts depending on individual judgement experience.

As a private limited company there is no legal requirement according to local corporate law for public disclosure of detailed financials.

SC is considered small-sized in its line with short history. Taking into consideration of SC’s general performance, a credit line up to USD 60,000 would appear to be within SC’s capacities

Attached: trade references

SIC PRODUCT CLASSIFICATION & ACTIVITY

Activity Code Product/Service Description

Trading 3911 Jewelry, of precious metal

Trading 5094 Jewelry/Watches/Precious Mtl

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Activity Code Product/Service Description

Trading 7113 Articles of jewelry & parts, of precious metal or clad

Trading 7113205000 Jewelry of base metal clad with precious metal

Trading 7116201000 Jewelry of precious or semiprecious stones

INTERNATIONAL TRADE: ACTIVITY & MARKETS

Exporting to Belgium

Exporting to Europe

Importing from Asia

Importing from India

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.	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%)

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