MIRA INFORM REPORT

Report Date :

01.07.2008

IDENTIFICATION DETAILS

Name :	PRIYA (DIAM) TRADING LTD

Registered Office :	RM 705, 7FL Hang Seng Bank Bldg 9-11a Cameron Rd Tsimshatsui Kowloon

Country :	Hong Kong

Date of Incorporation :	12.02.1999

Com. Reg. No.:	0667495

Legal Form :	Private Limited Company

Line of Business :	Trading wide range of Jewelry.

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Small Company

Payment Behaviour :	No Complaints

Litigation :	Exists

name & address

PRIYA (DIAM) TRADING LTD

RM 705, 7FL HANG SENG BANK BLDG 9-11A CAMERON RD

TSIMSHATSUI KOWLOON, HONG KONG.

TEL: 852- 23127008 FAX: 852-23127918

EXECUTIVE SUMMARY

INCORPORATION DATE : FEBRUARY 12, 1999

REGISTRATION NO. : 0667495

LEGAL FORM : PRIVATE

CHIEF EXECUTIVE : MR. GARY (REPRESENTATIVE)

STAFF STRENGTH : 10

CAPITAL : US$ 256,082

BUSINESS LINE : TRADER

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

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

PAYMENT : AVERAGE

MARKET CONDITION : AVERAGE

FINANCIAL CONDITION : N/A

OPERATIONAL TREND : STEADY

GENERAL REPUTATION : AVERAGE

EXCHANGE RATE : HKD 7.80060 = US$1

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 : 0667495

Date issued : 12 February, 1999

Issuing authority : Companies Registry

Type of license : Corporate

(2)

License number : 22277924-000

Date issued : N/A

Issuing authority : Business Registration Office - Inland Revenue Dept

Type of license : Business

*Capital Details*

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

Authorized capital: HKD 2,000,000.00 divided into 2,000,000 ordinary shares at HKD 1.00/-each, fully paid

*Approved Signatures*

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

Only Premal Pravin Jhaveri can sign on behalf of the company with seal affixed.

www.priyadiam.com SC’s website is unable to be landed at present for the technical reason.

E-mail: info@priyadiam.com

Litigation ( 1 )

Position : Defendant

Other Parties Involved : Position Country Party's Name

Plaintiff Hong Kong Mr. Siddik Mujeebur Rahman Mohamed

Case Issue : A petition to the Court to rule over a labor dispute (filed under case no. LBTC3179/2004).

Court : District Court, Hong Kong

Date Commenced : 3 June, 2004

Status : Not stated

*Major Shareholders*

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

Total number of shareholders: 2

Total number of shares: 2,000,000

Shareholders Country Number Amount (HKD) %

Mr. Jwala Premal Jhaveri India 1,000,000.00 1,000,000.00 50.00

Mr. Premal Pravin Jhaveri India 1,000,000.00 1,000,000.00 50.00

*Company Secretary*

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

PROWISE SERVICES LTD

Address : Unit 8, 31Fl Lippo Center - Tower I 89 Queensway Hong Kong

CR number : 681120

Management: Mr. Gary, Representative

Mr. Sarkar Gaurang, Representative

Name Nationality Job Description

Mr. Gary Hong Kong Representative

Mr. Sarkar Gaurang Hong Kong Representative

*COMPANY DIRECTORS*

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

Name : Mr. Jwala Premal Jhaveri

Nationality : India

ID/Passport No. : K612044(A)

Registered Address : House 7, 22nd St Hong Lok Yuen, Tai Po, New Territories

Country of Residence : Hong Kong

Name : Mr. Premal Pravin Jhaveri

Nationality : India

ID/Passport No. : K612041(5)

Registered Address : House 7, 22nd St Hong Lok Yuen, Tai Po, New Territories

Country of Residence : Hong Kong

*Main Products & Services*

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

Specializes in trading wide range of jewelry.

Products: Beads, assorted semiprecious

Fine gold jewelry

Fine silver jewelry

Gold

Gold 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)

*Exhibition Participation*

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

Exhibition/Fair : 2006 Shenzhen Int'l Jewellery Fair

Date attended : 27 November, 2006

*Local Distribution Network*

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

Part the annual turnover is attributed to local sales.

*Export Markets*

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

Part of the annual turnover is attributed to export.

*LOCAL BRANCHES & MANAGEMENT*

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

Branch : PRIYA (DIAM) TRADING LTD - KOWLOON

Branch Address : Hang Seng Bank Bldg 18 Carnarvon Rd Tsimshatsui, Kowloon,

PAYMENT RATING : 3 OBTAINED SCORES : 50

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 a development history of 9 years.

Attached: trade references

SIC PRODUCT CLASSIFICATION & ACTIVITY

Activity Code Product/Service Description

Trading 3911 Jewelry, of precious metal

Trading 3961 Jewelry of materials other than solid gold, platinum & silver

Trading 5094 Jewelry/Watches/Precious Mtl

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Activity Code Product/Service Description

Trading 7103 Precious & semiprec stones, not strung etc

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

Trading 7113110000 Jewelry and parts thereof, of silver

Trading 7113195000 Gold jewelry, goldsmiths wares and other gold articles

Trading 7113200000 Jewelry and parts, base metal clad w precious metal

Trading 7113205000 Jewelry of base metal clad with precious metal

Trading 7115901000 Articles of gold including metal clad with gold

Trading 7115902000 Articles of silver, including metal clad with silver

Trading 7116201000 Jewelry of precious or semiprecious stones

Trading 7116205000 Articles of precious or semiprecious or synthetic stones

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

Activity Product/Service Description

Trader Gold jewelry

Trader Beads, assorted semiprecious

Trader Gold jewelry sets

Trader Jewelry, 24k gold

Trader Jewelry, 9k/10k/14k/18k fine

Trader Semi precious stones

INTERNATIONAL TRADE: ACTIVITY & MARKETS

Exporting to Asia

Exporting to Belgium

Exporting to Europe

Exporting to India

Exporting to Israel

Exporting to Middle East

Importing from Belgium

Importing from Europe

Importing from Israel

Importing from Middle East

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.43.27
UK Pound	1	Rs.86.28
Euro	1	Rs.68.24

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%)

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