MIRA INFORM REPORT

Report Date :

07.04.2011

IDENTIFICATION DETAILS

Name :	KEEN JADE LTD.
Registered Office :	Room 1202, 12/F., Fu Hang Industrial Building, 1 Hok Yuen Street East, Hunghom, Kowloon
Country :	Hong Kong
Date of Incorporation :	06.06.1991
Com. Reg. No.:	14851724
Legal Form :	Private Limited Company
Line of Business :	Importer, Exporter and Wholesaler of all kinds of gemstones, jewellery, etc.

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 :	Good
Payment Behaviour :	Regular
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 – December 31, 2010

Country Name	Previous Rating (30.09.2010)	Current Rating (31.12.2010)
Hong Kong	a2	a2

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

Company name

KEEN JADE LTD.

Company address

Room 1202, 12/F., Fu Hang Industrial Building, 1 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.

PHONE: 2363 9677, 2363 8869

FAX: 764 5923

E-MAIL: sunita@keenjade.com

MANAGEMENT

Managing Director: Mr. Sunita Nahata

SUMMARY

Incorporated on: 6th June, 1991.

Organization: Private Limited Company.

Capital: Nominal: HK$2,200,000.00

Issued: HK$2,000,004.00

Business Category: Gemstone Trader.

Employees: 8.

Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Banking Relation: Good.

Company name

KEEN JADE LTD.

Company address

Registered Head Office:-

· Room 1202, 12/F., Fu Hang Industrial Building, 1 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.

· P.O. Box 96426, Tsim Sha Tsui Post Office, Kowloon, Hong Kong.

BUSINESS REGISTRATION NUMBER

14851724

COMPANY FILE NUMBER

0313580

MANAGEMENT

Managing Director: Mr. Sunita Nahata

Director & Contact Person: Mr. Mahendra Kumar Nahata

CAPITAL

Nominal Share Capital: HK$2,200,000.00 (Divided into 2,200,000 shares of HK$1.00 each)

Issued Share Capital: HK$2,000,004.00

SHAREHOLDERS

(As per registry dated 06-06-2010)

Name		No. of shares
Sunita NAHATA		2,000,001
Mahendra Kumar NAHATA		3
		––––––––
	Total:	2,000,004 =======

DIRECTORS

(As per registry dated 06-06-2010)

Name (Nationality)	Address
Mahendra Kumar NAHATA	Flat D, 4/F., Everwell Garden, 1 Sheung Hong Street, Kowloon, Hong Kong.
Sunita NAHATA	Flat D, 4/F., Everwell Garden, 1 Sheung Hong Street, Kowloon, Hong Kong.

SECRETARY

(As per registry dated 06-06-2010)

Name	Address	Co. No.
Tam & Wongs Nominee Ltd.	1/F., Hang Lung House, 188 Queen’s Road Central, Hong Kong.	0187810

HISTORY

The subject was incorporated on 6th June, 1991 as a private limited liability company under the Hong Kong Companies Ordinance.

Formerly the subject was located at Flat C, 10/F., Hankow Apartments, 43‑49A Hankow Road, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in March 2007.

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

OPERATIONS

Activities: Importer, Exporter and Wholesaler.

Lines: All kinds of gemstones, jewellery, etc.

Employees: 8.

Commodities Imported: India, other Asian countries, Europe, etc.

Markets: Hong Kong, Japan, China, other Asian countries, Middle East, Europe, etc.

Terms/Sales: L/C or as per contracted.

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

FINANCIAL INFORMATION

Nominal Share Capital: HK$2,200,000.00 (Divided into 2,200,000 shares of HK$1.00 each)

Issued Share Capital: HK$2,000,004.00

Mortgage or Charge: (See attachment)

Profit or Loss: Making a small profit every year.

Condition: Keeping in a satisfactory manner.

Facilities: Making active use of general banking facilities.

Payment: Met trade commitments as required.

Commercial Morality: Satisfactory.

Bankers:-

· The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

· Bank of India, Hong Kong Branch.

· China Construction Bank (Asia) Corporation Ltd., Hong Kong.

· Citibank (Hong Kong) Ltd., Hong Kong.

Standing: Normal.

GENERAL

Keen Jade Ltd. is almost wholly-owned by Mr. Sunita Nahata who is an Indian. The very minor shareholder is Mr. Mahendra Kumar Nahata. The Nahatas are also directors of the subject. Being Hong Kong ID Card holders, they have got the right to reside in Hong Kong permanently.

The subject is gemstone trader. It has been trading in coloured stones and jewellery. The subject is engaged in cutting fine gemstones meeting high standards. Its factory is in India having 3,500 skilled workers cutting millions of pieces of variety gemstones. The subject is able to deliver its products to worldwide customers in shorter lead time with consistent quality. Its products are marketed in Hong Kong and exported to Western Europe, Eastern Europe, Thailand, Japan, North America, the Middle East, etc.

The subject is carrying the following semi-precious stones: aquamarine, pink amethyst, rubylite, green amethyst, blue topaz, lemon topaz, citrine, smokey topaz, kunzite, peridot, morganite, pink tourmalines, amethyst, pink topaz, garnet, rose quartz, moon stone, iolite, tanzanite, alexandrite, etc.

The business of the subject in Hong Kong is rather active. Contact person is Mahendra Kumar Nahata.

The subject operates from its own office in Hong Kong. The premises have been mortgaged to a Hong Kong bank for securing banking facilities.

The history of the subject in Hong Kong is over nineteen years and ten months.

On the whole, consider it good for normal business engagements.

REMARKS:

Court Cases: None per our.

Property information of the company:-

1. Property Location: Unit 2 on 12/F., Fu Hang Industrial Building, 1 Hok Yuen Street, Kowloon, Hong Kong.

Owner: Keen Jade Ltd.

Date of Purchase: n.a.

Purchased Price: n.a.

Incumbrances:-

Date of Mortgage	Amount Consideration	Mortgagee	Nature
15-07-2005	-	Bank of America (Asia) Ltd., Hong Kong. [Now known as China Construction Bank (Asia) Corporation Ltd.]	Mortgage to secure general banking facilities

2. Property Location: Flat C on 10/F., Hankow Apartments, 43-49A Hankow Road, Kowloon, Hong Kong.

Owner: Keen Jade Ltd.

Date of Purchase: n.a.

Purchased Price: n.a.

Incumbrances:-

Date of Mortgage	Amount Consideration	Mortgagee	Nature
20-08-2003	-	GE Capital (Hong Kong) Ltd., Hong Kong.	First legal charge to secure general banking facilities

MORTGAGE OR CHARGE

Date	Particulars	Amount
10-04-2000	Instrument: Letter of Set-off Property: Cash deposit No. 01H22/031842 & 01H33/031842-00 amounting to HK$1,050,000.95 Mortgagee: Bank of India, Hong Kong Branch.	Advances and other banking facilities
20-08-2003	Instrument: First Legal Charge Property: 1/114th part or share of and in Kowloon Inland Lot No. 7306 (Flat C on 10/F. of Hankow Apartments, 43-49A Hankow Road, Kowloon, Hong Kong.) Mortgagee: GE Capital (Hong Kong) Ltd., Hong Kong.	To secure all monies in respect of general credit facilities
15-07-2005	Instrument: Mortgage Property: 18/3,442nd parts or shares of and in Section A of Kowloon Marine Inland Lot No. 113 (Unit 2 on 12/F. of Fu Hang Industrial Building, 1 Hok Yuen Street, Hunghom, Kowloon, Hong Kong.) Mortgagee: Bank of America (Asia) Ltd., Hong Kong. [Now known as China Construction Bank (Asia) Corporation Ltd.]	To secure all moneys in respect of general banking facilities
15-07-2005	Instrument: Assignment of Rentals Property: 18/3,442nd parts or shares of and in Section A of Kowloon Marine Inland Lot No. 113 (Unit 2 on 12/F. of Fu Hang Industrial Building, 1 Hok Yuen Street, Hunghom, Kowloon, Hong Kong.) Mortgagee: Bank of America (Asia) Ltd., Hong Kong. [Now known as China Construction Bank (Asia) Corporation Ltd.]	To secure all moneys in respect of general banking facilities

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.22
UK Pound	1	Rs.72.25
Euro	1	Rs.63.09

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.