MIRA INFORM REPORT

Report Date :

10.08.2011

IDENTIFICATION DETAILS

Name :	FU SHING JEWELLERY

Registered Office :	Room F, 9/F., Carnival Mansion, 15B Austine Avenue, Tsimshatsui, Kowloon

Country :	Hong Kong

Date of Incorporation :	15.08.2008

Com. Reg. No.:	39674212-000-08

Legal Form :	Sole Proprietorship

Line of Business :	trading in polished and cut diamonds, loose diamonds, emerald, precious stones, ruby jade, gem sets, semi-precious stones and jewellery

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Very Small Concern

Payment Behaviour :	Unknown

Litigation :	---

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 – March 31^st, 2011

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Hong Kong

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

Bottom of Form

Company name

FU SHING JEWELLERY

Company ADDRESS

Registered Office:-

Room F, 9/F., Carnival Mansion, 15B Austine Avenue, Tsimshatsui, Kowloon, Hong Kong.

BUSINESS REGISTRATION NUMBER

39674212-000-08

ESTABLISHMENT

15th August, 2008.

SOLE PROPRIETOR

Name: Mr. LAKHVIR Singh

Residential Address: Room 1103, Tak On House, Hau Tak Estate, Hang Hau, Tseung Kwan O, Kowloon,

Hong Kong.

GENERAL

Fu Shing Jewellery is a sole proprietorship set up on 15th August, 2008 and owned by Mr. Lakhvir Singh under the Hong Kong Business Registration Regulations.

Mr. Lakhvir is an Indian who is holding a Hong Kong ID Card and has got the right to reside in Hong Kong permanently.

The subject’s registered address is located at Room F, 9/F., Carnival Mansion, 15B Austine Avenue, Tsimshatsui, Kowloon, Hong Kong where Carnival Mansion is a residential building not trespassed by outsiders. This address seems to be the corresponding address of the subject.

The subject’s telephone number and fax number have not registered with local telephone company nor listed on telephone directories. However, Lakhvir Singh can be reached at his mobile phone number 9718 1440.

The subject has no employees in Hong Kong.

According to the subject, it is a diamond importer, exporter and wholesaler. It is also a commission agent.

The subject is trading in polished and cut diamonds, loose diamonds, emerald, precious stones, ruby jade, gem sets, semi-precious stones and jewellery. Processed diamonds and jewellery are wholesaled in Hong Kong or exported to the other Asian countries such as Japan. Rough diamonds are chiefly imported from India. Business is just fairly active.

It seems that Mr. Lakhvir handles the subject’s business at his residential address located at Hang Hau, Tseung Kwan O, Kowloon, Hong Kong.

Being a small firm, the subject is just a one-man company. Financial position is not very strong. It just has had sufficient working capital to support its current running.

The history of the subject is just about three years in Hong Kong.

On the whole, since the registered office of the subject is in a residential building, consider it good for normal credit requirements on secured basis.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.17
UK Pound	1	Rs.73.72
Euro	1	Rs.64.26

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