MIRA INFORM REPORT

Report Date :

16.04.2011

IDENTIFICATION DETAILS

Name :	HEERA BLUE
Registered Office :	Flat C1, 9/F., Block C, Tsim Sha Tsui Mansion, 83-97 Nathan Road, Tsimshatsui, Kowloon
Country :	Hong Kong
Date of Incorporation :	26.09.2005
Com. Reg. No.:	36043694-000-09
Legal Form :	Sole Proprietorship
Line of Business :	Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery products, etc.

RATING & COMMENTS

MIRA’s Rating :

B

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

Status :	Small Concern
Payment Behaviour :	Usually Correct
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

HEERA BLUE

Company ADDRESS

Flat C1, 9/F., Block C, Tsim Sha Tsui Mansion, 83-97 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE: Not available

FAX: Not available

MANAGEMENT

Manager: Mr. Salamudeen Noorul Ariff Ahamed

SUMMARY

Establishment: 26th September, 2005.

Organization: Sole Proprietorship.

Capital: Not disclosed.

Business Category: Diamond Trader.

Employees: Nil.

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

Banking Relation: Satisfactory.

Company ADDRESS

Head Office:-

Flat C1, 9/F., Block C, Tsim Sha Tsui Mansion, 83-97 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.

Affiliated Company:-

Karani Associates

Flat F, 6/F., Alpha House, 27 Nathan Road, Tsimshatsui, Kowloon, Hong Kong. [Tel: 2368 7630; Fax: 2722 7788]

BUSINESS REGISTRATION NUMBER

36043694-000-09

MANAGEMENT

Manager: Mr. Salamudeen Noorul Ariff Ahamed

SOLE PROPRIETOR

Name : Mr. Salamudeen Noorul Ariff AHAMED

Residential Address : Flat E, 17/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong.

HISTORY

The subject was established on 26th September, 2005 as a sole proprietorship concern owned by Mr. Salamudeen Noorul Ariff Ahamed under the Hong Kong Business Registration Regulations.

Initially the subject was located at Flat E, 17/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in February 2010.

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

OPERATIONS

Activities: Importer, Exporter and Wholesaler.

Lines: All kinds of diamonds and jewellery products, etc.

Employees: Nil.

Commodities Imported: India, other Asian countries, etc.

Markets: Hong Kong, Japan, other Asian countries, etc.

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

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

FINANCIAL INFORMATION

Capital: Not disclosed.

Profit or Loss: Making a very small profit in the past two years.

Condition: Business is fairly active.

Facilities: Making fairly active use of general banking facilities.

Payment: Met trade commitments as required.

Commercial Morality: Satisfactory.

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

Standing: Small.

GENERAL

Heera Blue is a sole proprietorship set up and owned by Mr. Salamudeen Noorul Ariff Ahamed who is an Indian. Ahamed is holding an India passport and does not have the right to reside in Hong Kong permanently.

The subject’s registered address is located at Flat C1, 9/F., Tsim Sha Tsui Mansion, 83-97 Nathan Road, Tsimshatsui, Kowloon, Hong Kong. This office is not in a commercial building but a residential building. It is likely that Mr. Ahamed has moved to this new address but does not make any amendments on the subject’s registration materials. It seems that the subject’s operating address is also Mr. Ahamed’s residential address when he is in Hong Kong. The residential building is not trespassed by outsiders.

The subject has had an affiliated company Karani Associates located at a different address. The subject is using the phone and fax number of Karani Associates as its communication numbers. Karani Associates is a gemstone and jade trade located at Flat F, 6/F., Alpha House, 27 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.

To our knowledge, the subject is trading in loose diamonds, precious stones, ruby jade, gem sets, semi-precious stones, sapphire, etc. Rough diamonds are imported from India, Belgium and other European countries, etc. Some of the rough diamonds are polished or processed in Hong Kong. Finished products and polished diamonds are marketed in Hong Kong or exported to the other Asian countries, Europe, etc. The subject is also a commission agent.

The subject is just a one-man company. Making a small profits in the past two years. Business has been improving.

The history of the subject is just over five years and two months in Hong Kong.

Since the subject does not have its own operating office and has no employees, consider it good for business engagements on secured basis.

COURT CASES: None per our.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.52
UK Pound	1	Rs.72.72
Euro	1	Rs.64.41

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
----	NB	New Business	----

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.