MIRA INFORM REPORT

Report Date :

31.12.2011

IDENTIFICATION DETAILS

Name :	GOLDEN GEORGIA SDN. BHD.
Registered Office :	C/O Firm Care Management Services, 30a Jalan 17/155c Bandar Bukit Jalil, Kuala Lumpur, Wilayah Persekutuan , Zip/Postal Code 57000
Country :	Malaysia
Date of Incorporation :	11.07.2011
Com. Reg. No.:	952289-W
Legal Form :	Private Company Limited By Shares
Line of Business :	Trading of diamonds, jewellery, precious and non previous stones
No. of Employees :	10

RATING & COMMENTS

MIRA’s Rating :

NB

RATING		STATUS	PROPOSED CREDIT LINE
----	NB	New Business	----

Status :	New Company
Payment Behaviour :	Unknown
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 – September 30^th, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
Malaysia	a2	a2

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

Bottom of Form

Identification details Bottom of Form

Verified Address

Subject name : GOLDEN GEORGIA SDN. BHD.

Business address : B-10-4, Block B, Megan Avenue 1

189, Jalan Tun Razak

Town : Kuala Lumpur

Province : Wilayah Persekutuan

Zip/postal code : 50400

Country : Malaysia

Tel : +60 3 21668030 Ext 411

Fax : +60 3 21647069

Email : luvlishjain@hotmail.com

Registered address : C/o FIRM CARE MANAGEMENT SERVICES

30A Jalan 17/155C Bandar Bukit Jalil

Town : Kuala Lumpur

Province : Wilayah Persekutuan

Zip/postal code : 57000

Country : Malaysia

Comments : The provided address and number belongs to the Subject's secretary,

FIRM CARE MANAGEMENT SERVICES.

Summary details

Executive Summary

Date founded or registered : 11/07/2011

Legal form : Private Company Limited By Shares

Chief executive : Lovelish Jain

Issued & paid up capital : MYR 2

Line of business : Trading of diamonds, jewellery, precious and non previous stones. Staff employed : 10 employees (as reported)

Credit risk opinion

Company Analysis

Country risk : Country risk is minimal

Operation trend : Operational trend is in start-up phase

Management experience : Management is inadequately experienced

Financial performance : Financial performance is undetermined

Organization structure : Organizational structure is acceptable

Detrimental : No detrimental records found

Payment history : No payment delays noted

Credit amount suggestion : Fully secured.

Credit amount asked : Not described.

Comments : It is strictly advisable to conduct all business dealing on prepayment or L/C basis due to the Subject’s recent date of establishment.

Statutory details

Registry Data

Registration date : 11/07/2011

Legal form : Private Company Limited By Shares

Registration no : 952289-W

Registered authority : Companies Commission of Malaysia

Registry status : Live/Active

Previous name : None reported.

Change of legal form : None reported.

Management / directors

Key Management

Name : Lovelish Jain

_{Designation : Manager}

Board of directors / other appointments

Appointments

Name : Zainudin Bin Koming

Designation : Director

Identification no : 610406-04-5275

Appointment date : 23/09/11

Address : 274-3, Blok 2, Flat Sri Labuan

Jalan Adil, Bandar Tun Razak

56000 Kuala Lumpur Wilayah Persekutuan Malaysia

Name : Noraini Binti Abdullah

Designation : Director

Identification no : 670201-08-5358

Appointment date : 23/09/11

Address : No 274-3, Blok 2 Flat Sri Labuan

Bandar Tun Razak, Cheras

56000 Kuala Lumpur Wilayah Persekutuan Malaysia

Name : Lee Su Jane

Designation : Company Secretary

Identification no : 760129-14-5596

Appointment date : 23/09/11

Address : 48, Jalan 52/26 Taman Sri Rampai

53300 Kuala Lumpur Wilayah Persekutuan Malaysia

_{Staff employed : 10 employees (as reported)}

Share capital

Composition

Authorized Capital : MYR 100,000

No of shares : 100,000 Ordinary Shares

Share par value : MYR 1

Issued capital : MYR 2

_{Paid up capital : MYR 2}

ownership / shareholders

How listed : Full List

Composition

Shareholder name Zainudin Bin Koming

Address 274-3, Blok 2, Flat Sri Labuan

Jalan Adil, Bandar Tun Razak

56000 Kuala Lumpur Wilayah Persekutuan Malaysia

No. of shares 1 Ordinary Share

% of shares 50%

Shareholder name Noraini Binti Abdullah

Address No 274-3, Blok 2 Flat Sri Labuan

Bandar Tun Razak, Cheras

56000 Kuala Lumpur Wilayah Persekutuan Malaysia

No. of shares 1 Ordinary Share

_{% of shares 50%}

Related companies & corporate Affiliations

Structure

Related companies and corporate affiliations comments : None Reported

Bank & mortgages

Bank Details

Name of bank : HSBC Bank Malaysia Berhad

Address : Malaysia

Account details : Current Account

Comments : It is generally not the policy of local banks to provide credit status information to non related parties, however interested parties would be advised to consult first with the Subject if banker's references are required.

Mortgages : None reported.

Legal Fillings

Bankruptcy fillings : None reported.

Court judgements : None reported.

Tax liens : None reported.

Others : None reported.

financial data

Description

Comments : Due to the Subject’s recent date of establishment, financial information is not available. The representative contacted Mr. Lovelish Jain advised that monthly turnover is estimated at USD 1 million.

Operation details

Main activities The Subject is engaged in trading of diamonds, jewellery, precious and non previous stones.

Purchases

International India, Hong Kong, Thailand, United States

Sales

International Hong Kong, Singapore, Indonesia

Property & Assets

Premises The Subject operates from premises located at the verified heading address consisting of an administrative office.

_{Branches None reported.}

Summarized country risk

Gross Domestic Products (GDP) & Economic Overview

Central bank : Central Bank of Malaysia

Reserve of foreign exchange & gold : US$135.0 billion as of 15 November 2011

Gross domestic product - GDP : US$ 247.781 billion

GPP (Purchasing power parity) : 442.01 billion of International dollars

GDP per capita - current prices : US$ 8,624

GDP - composition by sector : agriculture: 9.4% industry: 40.9% services: 49.7%

Inflation 2008: 5.4%

2009: 0.6%

2010: 1.7%

Unemployment 2008 : 3.3 %

2009 : 3.6 %

2010: 3.3 %

Public debt

(General Government gross

debt as a % GDP) 2008: 42.8 %

2009: 55.4 %

_{2010: 54.2%}

Government bond ratings Standard & Poor's: A-/Stable/A-2

Moody's rating: A3

Moody's outlook: STA

Market value of publicly traded shares US$ 420 billion

Largest companies in the country : CIMB Group Holdings (Banking), Sime Darby (Conglomerates), Public Bank (Banking), Maybank (Banking), Tenaga Nasional(Utilities), Petronas Chemicals, Maxis Berhad

Trade & Competitiveness Overview

Total exports US$210.3 billion

Exports commodities electronic equipment, petroleum and liquefied natural gas, wood and

wood products, palm oil, rubber, textiles, chemicals

Total imports US$156.2 billion

Imports commodities electronics, machinery, petroleum products, plastics, vehicles, iron and

steel products, chemicals

Export - major partners US 15.6%, Singapore 14.6%, Japan 9.1%, China 8.8%, Thailand 5%,

HongKong 4.6%

Import - major partners Japan 13%, China 12.9%, Singapore 11.5%, US 10.8%, Taiwan 5.7%,

Thailand 5.3%, South Korea 4.9%, Germany 4.6%, Indonesia 4.2%

FDI Inflows 2007: US$8,538 million

2008: US$7,318 million

_{2009: US$1,381 million}

FDI Outflows 2007: US$11,280 million

2008: US$14,988 million

2009: US$8,038 million

Best countries for doing business 21 out of 183 countries

Global competitiveness ranking 26 (ranking by country on a basis of 133, the first is the best)

Country and Population Overview

Total population : 28.23 million

Total area : 329,847 km2

Capital : Kuala Lumpur

_{Currency : Malaysia Ringgits (MYR)}

Internet users as % of total population : 57.61%

Payment history

Purchase Term

International : Credit 60-180 days, Prepayment

Sales Term

International : Credit 30-90 days

Trade Reference/ Payment Behaviour

Comments : As local and international trade references were not supplied, the Subject's payment track record history cannot be appropriately determined but based on our research, payments are believed to be met without delay.

Investigation Note

Sources : Interviews and material provided by the Subject

: Other official and local business sources

DIAMOND INDUSTRY – INDIA

- From time immemorial, India is well known in the world as the birthplace for diamonds.  It is difficult to trace the origin of diamonds but history says that in the remote past, diamonds were mined only in India. Diamond production in India can be traced back to almost 8^th Century B.C.  India, in fact, remained undisputed leader till 18^th Century when Brazilian fields were discovered in 1725 followed by emergence of S. Africa, Russia and Australia.

- The achievement of the Indian diamond industry was possible only due to combination of the manufacturing skills of the Indian workforce and the untiring and unflagging efforts of the Indian diamantaires, supported by progressive Government policies.

- The area of study of family owned diamond businesses derives its importance from the huge conglomerate of family run organizations which operate in the diamond industry since many generations.

- Some of the basic traits of family run business enterprises include spirit of entrepreneurship, mutual trust lowers transaction costs, small, nimble and quick to react, information as a source of advantage and philanthropy.

- Family owned diamond businesses need to improve on many fronts including higher standard of corporate governance, long-term performance – focused strategies, modern management and technology.

- The diamond jewellery industry in India today may be more than Rs 60000 mil and is rated amongst the fastest growing  in the world. Indi ranks third in the world in domestic diamond consumption.

- Utmost caution is to be exercised while dealing with some medium and large diamond traders which are usually engaged in fictitious import – export, inter-company transactions, financially assisted by banks. In the process, several public sector banks lost several hundred million rupees. They mostly diverted borrowed money for diamond business into real estate and capital markets.

- Excerpts from Times of India dated 30^th October 2010 is as under –

DIAMOND SAGA – DIRTY DOZEN STUCK WITH 2K CR DEBT

This could be the biggest credibility crisis the Indian diamond industry has ever faced. Fifteen banks run the risk of losing Rs 2000 crore lent to a dozen diamond firms in Surat. Until about two months ago, they had not repaid  these dues. Bankers believe many diamantaires borrowed money during the economic downturn two years ago and diverted funds to businesses like real estate and capital markets. Many of themselves made money from these businesses but their diamond companies have gone sick and declared insolvency.

- Most of the money borrowed from the banks in the name of their diamond business has been diverted in real estate and the share market. The banks are not in a position to seize their properties because in many cases, these were purchased in the name of their relatives and friends.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.27
UK Pound	1	Rs.82.09
Euro	1	Rs.68.90

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.