MIRA INFORM REPORT

Report Date :

18.02.2011

IDENTIFICATION DETAILS

Name :	DRAGON DISTRIBUTORS
Registered Office :	c/o Crisp Business Services (HK) Ltd., 9/F., Bel Trade Commercial Building, 3 Burrows Street, Wanchai
Country :	Hong Kong
Date of Incorporation :	29.06.2009
Com. Reg. No.:	50831970-000-06
Legal Form :	Sole Proprietorship
Line of Business :	Importer, Exporter and Wholesaler of Diamonds, electronics, 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 – June 30, 2010

Country Name	Previous Rating (01.04.2010)	Current Rating (30.06.2010)
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

DRAGON DISTRIBUTORS

Company ADDRESS

c/o Crisp Business Services (HK) Ltd.

9/F., Bel Trade Commercial Building, 3 Burrows Street, Wanchai, Hong Kong.

PHONE: 2572 1731

FAX: 3747 3375

MANAGEMENT

Manager: Mr. Deepak Kumar

SUMMARY

Establishment: 29th June, 2009.

Organization: Sole Proprietorship.

Capital: Not disclosed.

Business Category: Importer, Exporter and Wholesaler.

Employees: Nil.

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

Banking Relation: Fairly satisfactory.

Company ADDRESS

Head Office:-

c/o Crisp Business Services (HK) Ltd.

9/F., Bel Trade Commercial Building, 3 Burrows Street, Wanchai, Hong Kong.

Affiliated Companies:-

Crown Gallant Ltd.

c/o Libra Consulting Co.

Room 2301, 23/F., World-Wide House, 19 Des Voeux Road Central, Hong Kong.

Star Grace Ltd., Hong Kong. (Same address)

BUSINESS REGISTRATION NUMBER

50831970-000-06

MANAGEMENT

Manager: Mr. Deepak Kumar

SOLE PROPRIETOR

Name: Mr. Deepak KUMAR

Residential Address: X-828 Chand Mohalla, Gandhi Nagar, Delhi-31, India.

HISTORY

The subject was established on 29th June, 2009 as a sole proprietorship concern owned by Mr. Deepak Kumar under the Hong Kong Business Registration Regulations.

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

OPERATIONS

Activities: Importer, Exporter and Wholesaler.

Lines: Diamonds, electronics, etc.

Employees: Nil.

Commodities Imported: India, other Asian countries, etc.

Markets: Southeast Asia, the Middle East, etc.

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

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

FINANCIAL INFORMATION

Capital: Not disclosed.

Profit or Loss: Too early to offer an opinion.

Condition: Business is improving.

Facilities: Making fairly active use of general banking facilities.

Payment: Met trade commitments as required.

Commercial Morality: Too early to comment.

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

Standing: Small.

GENERAL

Dragon Distributors is a sole proprietorship set up and owned by Mr. Deepak Kumar who is an Indian. He is an India passport holder and does not have the right to reside in Hong Kong permanently.

The subject does not have its own operating office. Its registered office is in a commercial service firm located at 9/F., Bel Trade Commercial Building, 3 Burrows Street, Wanchai, Hong Kong known as Crisp Business Services (HK) Ltd. [Crisp] which is handling its correspondences and documents.

The subject has no employees in Hong Kong.

According to the subject, it is a diamond and electronic product trader. However, most of the electronic products are mobile phones.

The subject has had two affiliates, namely, Crown Gallant Ltd. [Crown Gallant] and Star Grace Ltd. [Star Grace], both are Hong Kong-registered firms.

Crown Gallant was incorporated on 31st August, 2007 as a private limited liability company under the Hong Kong Companies Ordinance. Mr. Ramesh Kumar Kadel and Mr. Deepak Kumar are directors of Crown Gallant. Crown Gallant is a diamond trader.

The registered address of Star Grace is also located at the operating address of Crisp. Incorporated on 4th July, 2008, Star Grace is wholly-owned by Deepak Kumar. This firm is also a diamond trader and distributor.

All the firm’s diamonds are imported from India, Belgium and other European countries. Finished products are exported to Japan, other Asian countries and Europe, etc.

The business of the subject is improving. Its business is chiefly handled by Deepak Kumar himself. It is just a one-man company.

As the history of the subject is just over a year and seven months in Hong Kong and does not have its own operating office, on the whole, consider it good for normal business engagements on secured basis for the time being.

COURT CASES: None per our.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.38
UK Pound	1	Rs.73.08
Euro	1	Rs.61.60

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.