MIRA INFORM REPORT

Report Date :

27.04.2011

IDENTIFICATION DETAILS

Name :	RISE GEMS
Registered Office :	Flat D, 7/F., Cameron Plaza, 23-25A Cameron Road, Tsimshatsui, Kowloon
Country :	Hong Kong
Date of Incorporation :	08.08.1988
Com. Reg. No.:	12058265-000-08
Legal Form :	Sole Proprietorship
Line of Business :	Manufacturer, Importer and Exporter of all kinds of gem stones, diamonds, 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 Company
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

RISE GEMS

ADDRESS

Flat D, 7/F., Cameron Plaza, 23-25A Cameron Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE: 2723 3556

FAX: 2369 5376

E-MAIL: risegems@netvigator.com

MANAGEMENT

Manager: Mr. Gangwal Sunil

SUMMARY

Establishment: 8th August, 1988.

Organization: Sole Proprietorship.

Capital: Not disclosed.

Business Category: Gem Trader.

Employees: 2.

Main Dealing Banker: Hang Seng Bank Ltd., Hong Kong.

Banking Relation: Satisfactory.

ADDRESS

Head Office:-

Flat D, 7/F., Cameron Plaza, 23-25A Cameron Road, Tsimshatsui, Kowloon, Hong Kong.

BUSINESS REGISTRATION NUMBER

12058265-000-08

MANAGEMENT

Manager: Mr. Gangwal Sunil

SOLE PROPRIETOR

Name: Mr. Gangwal SUNIL

Residential Address: Flat H, 15/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong.

HISTORY

The subject was established on 8th August, 1988 as a sole proprietorship concern owned by Mr. Gangwal Sunil under the Hong Kong Business Registration Regulations.

At the very beginning, the subject was located at Flat H, 15/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong, moved to Flat 6, 15/F., Creative Mansion, 6 Chatham Court, Tsimshatsui, Kowloon, Hong Kong in January 1991; moved to Room 1126, 11/F., Beverly Commercial Building, 87-105 Chatham Road, Tsimshatsui, Kowloon, Hong Kong in August 1995; and further to the present address in June 2001.

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

OPERATIONS

Activities: Manufacturer, Importer and Exporter.

Lines: All kinds of gem stones, diamonds, etc.

Employees: 2.

Raw Materials: India, Belgium, other European countries, etc.

Markets: Japan, Southeast Asia, Europe, Middle East, 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 small profit every year.

Condition: Keeping in a satisfactory condition.

Facilities: Making rather active use of general banking facilities.

Payment: Met trade commitments as contracted.

Commercial Morality: Satisfactory.

Banker: Hang Seng Bank Ltd., Hong Kong.

Standing: Small.

GENERAL

Rise Gems is a sole proprietorship set up and owned by Mr. Gangwal Sunil who is an Indian. He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.

The subject commenced business in August 1988. Sunil is the manager.

Being one of the oldest diamond traders in Hong Kong, the subject is a loose diamond, polished and cut diamond, precious stone and semi-precious stone trader. 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, etc.

It also trades in the following precious stones:-

Ruby (from Burma, Thailand)

Sapphire (from Ceylon and Kanchanapuri)

Emeralds (from Columbus and Zambia)

Fancy Sapphire

Some of the subject’s diamonds and precious stones are imported from India. Prime markets are Hong Kong, Japan, other Asian countries, the Middle East, Europe, North America, etc. Business is rather active.

The history of the subject in Hong Kong is over twenty-two years and eight months. Regular suppliers and overseas customers have been maintained. Annual sales turnover is steady. Making a small profit every year.

The subject’s business is chiefly handled by Sunil himself.

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

COURT CASES: None per our.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.59
UK Pound	1	Rs.73.44
Euro	1	Rs.64.81

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%)

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