MIRA INFORM REPORT

Report Date :

19.11.2008

IDENTIFICATION DETAILS

Name :	ROLLING STONE
Registered Office :	Flat D, 6/F., Tower 2, Lake View Garden, 21 Yau On Street, Shatin, New Territories
Country :	Hong Kong
Date of Incorporation :	01.07.2001.
Com. Reg. No.:	31973387-000-07
Legal Form :	Sole Proprietorship
Line of Business :	Importer, Wholesaler and Re-exporter of all kinds of Diamond and Jewellery.

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 of the company

ROLLING STONE

ADDRESS

Flat D, 6/F., Tower 2, Lake View Garden, 21 Yau On Street, Shatin, New Territories, Hong Kong.

PHONE: 2334 5550

FAX: 2334 4449

MANAGEMENT

Manager: Mr. Gaurang Ramesh Paymaster

SUMMARY

Establishment: 1st July, 2001.

Organization: Sole Proprietorship.

Capital: Not disclosed.

Business Category: Importer, Wholesaler and Re-exporter.

Employees: Nil.

Main Dealing Banker: ABN AMRO Bank N.V., Hong Kong Branch.

Banking Relation: Fair.

ADDRESS

Head Office:-

Flat D, 6/F., Tower 2, Lake View Garden, 21 Yau On Street, Shatin, New Territories, Hong Kong.

BUSINESS REGISTRATION NUMBER

31973387-000-07

MANAGEMENT

Manager: Mr. Gaurang Ramesh Paymaster

SOLE PROPRIETOR

Name: Mr. Gaurang Ramesh PAYMASTER

Residential Address :Flat C, 4/F., Block 3, Palm Mansion, Whampoa Garden, Hunghom, Kowloon, Hong Kong.

HISTORY

The subject was established on 1st July, 2001 as a sole proprietorship concern of Mr. Gaurang Ramesh Paymaster under the Hong Kong Business Registration Regulations.

Initially the subject was located at Flat C, 4/F., Block 3, Palm Mansion, Whampoa Garden, Hunghom, Kowloon, Hong Kong where is the residential address of the proprietor, moved to the present address in June 2002.

Apart from these, neither material change nor amendment has been ever traced and noted.

OPERATIONS

Activities: Importer, Wholesaler and Re-exporter.

Lines: All kinds of diamond and jewellery.

Employees: Nil.

Commodities Imported: Imported from Europe, India, etc.

Markets: Hong Kong, India, etc.

Terms/Sales: As per contracted.

Terms/Buying: L/C, T/T, etc.

FINANCIAL INFORMATION

Capital: Not disclosed.

Profit & Loss: Made small profits in past years.

Condition: Business is fairly active.

Facilities: Making rather active use of general banking facilities.

Payment: Met as required.

Commercial Morality: Fair.

Banker: ABN AMRO Bank N.V., Hong Kong Branch.

Standing: Small.

GENERAL

Rolling Stone is a sole proprietorship set up and owned by Mr. Gaurang Ramesh Paymaster, an Indian who has been in Hong Kong for a very long time.

Business commenced on 1st July, 2001, the subject is a diamond importer and wholesaler. Raw materials are mainly imported from India and Europe. Processed diamonds are marketed in Hong Kong which is the prime market. Most of its clients are Indian diamond retailers and exporters. Business has been fairly active. In recent years, the subject also has exported some of its products to India and the Middle East.

Last time, the subject’s office was located at Flat C, 4/F., Block 3, Palm Mansion, Whampoa Garden, Hunghom, Kowloon, Hong Kong where is the residential address of the proprietor. In June 2002, the subject moved to the present address where is supposed to be Mr. Paymaster’s new residence. The residential building Lake View Garden is not trespassed by outsiders. However, Mr. Paymaster’s registered address is still located at Flat C, 4/F., Block 3, Palm Mansion, Whampoa Garden, Hunghom, Kowloon, Hong Kong.

The subject’s business is chiefly handled by Mr. Paymaster himself. He always frequents to India to purchase raw diamonds. The subject has no other employees in Hong Kong. It is also a one-man-company.

The subject’s history in Hong Kong is over seven years.

On the whole, consider it good for normal business engagements on L/C basis.

COURT CASES: None per our.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.74
UK Pound	1	Rs.74.37
Euro	1	Rs.62.78

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