MIRA INFORM REPORT

Report Date :

07.08.2010

IDENTIFICATION DETAILS

Name :	BROWN STAR JEWELLERY LLC

Registered Office :	Gold Souq, Shop No. 3, Daghaya, Deira, P O Box 65259, Dubai

Country :	United Arab Emirates

Date of Incorporation :	14.01.2008

Com. Reg. No.:	1021953, Dubai

Legal Form :	Limited Liability Company

Line of Business :	Wholesale and retail of jewellery, pearls and precious stones, as well as watches, crystal products, and giftware

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	No Complaints
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 – April 1, 2010

Country Name

Previous Rating

(31.12.2009)

Current Rating

(01.04.2010)

UAE

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

SUMMARY

Company Name : BROWN STAR JEWELLERY LLC

Country of Origin : Dubai, United Arab Emirates

Legal Form : Limited Liability Company - LLC

Registration Date : 14^th January 2008

Commercial Registration Number : 1021953, Dubai

Trade Licence Number : 605283

Chamber Membership Number : 128127

Issued Capital : UAE Dh 300,000

Paid up Capital : UAE Dh 300,000

Total Workforce : 3

Activities : Wholesale and retail of jewellery, pearls and precious stones, as well as

watches, crystal products, and giftware

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

Person Interviewed : Keshor Patra, Sales Manager

COMPANY NAME

BROWN STAR JEWELLERY LLC

ADDRESS

Registered & Physical Address

Building : Gold Souq, Shop No. 3

Area : Al Daghaya, Deira

PO Box : 65259

Town : Dubai

Country : United Arab Emirates

Telephone : (971-4) 2356656

Facsimile : (971-4) 2356657

Mobile : (971-50) 3400272 / 6965057 / 9299418

Email : brownstr@emirates.net.ae / smsvijay@yahoo.com

Premises

Subject operates from a small suite of offices and a showroom that are rented and located in the Central Business Area of Dubai.

KEY PRINCIPALS

Name Nationality Position

· Fijay Behobat Bhai Disay Indian Managing Director

· Laila Abdullah Fardan Ali Emirati Director

· Keshor Patra - Sales Manager

LEGAL FORM & OWNERS

Date of Establishment : 14^th January 2008

Legal Form : Limited Liability Company - LLC

Commercial Reg. No. : 1021953, Dubai

Trade Licence No. : 605283

Chamber Member No. : 128127

Issued Capital : UAE Dh 300,000

Paid up Capital : UAE Dh 300,000

Name of Shareholder (s) Percentage

· Laila Abdullah Fardan Ali 51%

· Fijay Behobat Bhai Disay 49%

OPERATIONS

Activities: Engaged in the wholesale and retail of jewellery, pearls and precious stones, as well as watches, crystal products, and giftware.

Import Countries: Europe and Asia

Subject has a workforce of 3 employees.

FINANCIAL DATA

Companies registered in Dubai are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

BANKERS

· Emirates Bank International Ltd

Beniyas Road

Deira

PO Box: 2923

Dubai

Tel: (971-4) 2256256 / 2256900

Fax: (971-4) 2268005 / 2267718

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

Local sources report that the subject’s operating history is clear with payment obligations met in a generally timely manner. The financial position is satisfactory and the business is deemed a fair trade risk.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.46.02
UK Pound	1	Rs.73.21
Euro	1	Rs.60.70

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	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

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.