MIRA INFORM REPORT

Report Date :

10.01.2011

IDENTIFICATION DETAILS

Name :	ROLLING STONE
Registered Office :	Flat D, 6/F., Tower 2, Lake View Garden, 21 Yau On Street, Shatin, New Territories
Country :	Hong Kong
Date of Incorporation :	01.07.2001
Com. Reg. No.:	31973387-000-07
Legal Form :	Sole Proprietorship
Line of Business :	Importer, Wholesaler and Re-exporter of all kinds of diamond, gemstone and jewellery.

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 :	Moderate
Payment Behaviour :	Slow
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

ROLLING STONE

Company ADDRESS

Flat D, 6/F., Tower 2, Lake View Garden, 21 Yau On Street, Shatin, New Territories, Hong Kong.

PHONE: 2334 5550

FAX: 2334 4449

MANAGEMENT

Manager: Mr. Gaurang Ramesh Paymaster

SUMMARY

Establishment: 1st July, 2001.

Organization: Sole Proprietorship.

Capital: Not disclosed.

Business Category: Importer, Wholesaler and Re-exporter.

Employees: Nil.

Main Dealing Banker: Deutsche Bank AG, Hong Kong Branch.

Banking Relation: Satisfactory.

Company ADDRESS

Head Office:-

Flat D, 6/F., Tower 2, Lake View Garden, 21 Yau On Street, Shatin, New Territories, Hong Kong.

Affiliated Company:-

Crystural Gems, Hong Kong. (Same address)

BUSINESS REGISTRATION NUMBER

31973387-000-07

MANAGEMENT

Manager: Mr. Gaurang Ramesh Paymaster

SOLE PROPRIETOR

Name: Mr. Gaurang Ramesh PAYMASTER

Residential Address: Flat C, 4/F., Block 3, Palm Mansion, Whampoa Garden, Hunghom, Kowloon, Hong Kong.

HISTORY

The subject was established on 1st July, 2001 as a sole proprietorship concern of Mr. Gaurang Ramesh Paymaster under the Hong Kong Business Registration Regulations.

Initially the subject was located at Flat C, 4/F., Block 3, Palm Mansion, Whampoa Garden, Hunghom, Kowloon, Hong Kong where is the residential address of the proprietor, moved to the present address in June 2002.

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

OPERATIONS

Activities: Importer, Wholesaler and Re-exporter.

Lines: All kinds of diamond, gemstone and jewellery.

Employees: Nil.

Commodities Imported: Imported from Europe, India, other Asian countries, etc.

Markets: Hong Kong, India, other Asian countries, Middle East, etc.

Terms/Sales: As per contracted.

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

FINANCIAL INFORMATION

Capital: Not disclosed.

Profit & Loss: Made small profits in past years.

Condition: Business is fairly active.

Facilities: Making rather active use of general banking facilities.

Payment: Slow

Commercial Morality: Fair.

Bankers:-

· Deutsche Bank AG, Hong Kong Branch.

· The Royal Bank of Scotland N.V., Hong Kong Branch.

Standing: Small.

GENERAL

Rolling Stone is a sole proprietorship set up and owned by Mr. Gaurang Ramesh Paymaster who is an Indian who has been in Hong Kong for a very long time. He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.

Business commenced on 1st July, 2001, the subject is a diamond and gemstone importer, exporter and wholesaler. Rough diamonds and loose diamonds are mainly imported from India, other Asian countries and Europe. It imports gemstones from Sri Lanka, Thailand, South Africa, etc. Processed diamonds are marketed in Hong Kong which is the prime market. In recent years, the subject also has exported some of its products to India, other Asian countries and the Middle East. Most of its clients are Indian diamond retailers and exporters. Business has been fairly active.

Last time, the subject’s office was located at Flat C, 4/F., Block 3, Palm Mansion, Whampoa Garden, Hunghom, Kowloon, Hong Kong where is the residential address of the proprietor. In June 2002, the subject moved to the present address where is supposed to be Paymaster’s new residence. This address is also the operating office of the subject. The residential building Lake View Garden is not trespassed by outsiders. The subject does not have any employees.

The subject’s business is chiefly handled by Paymaster himself. He always frequents to India to purchase rough diamonds. He has had close business ties with a number of diamond manufacturers and suppliers in, Mumbai, India.

The subject has had an affiliated company known as Crystural Gems located at its operating address. Crystural Gems is also a diamond and gemstone trader and owned by Paymaster.

As the history of the subject in Hong Kong is over nine years and four months, on the whole, consider it good for normal business engagements in small credit amounts.

COURT CASES: None per our records.

ANNEXure

Credit Report on:

Name: Rolling Stone

Address: Flat D, 6/F., Tower 2, Lake View Garden, 21 Yau On Street, Shatin, New Territories, Hong Kong.

Company name

ROLLING STONE

GIVEN ADDRESS

1001, Golden Dragon Centre, 38-40 Cameron Road, TST, Kowloon, Hong Kong.

(Should be written as Room 1001, Golden Dragon Centre, 38-40 Cameron Road, Tsimshatsui, Kowloon, Hong Kong.)

Given Phone Number: 2334 5550

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.37
UK Pound	1	Rs.70.38
Euro	1	Rs.58.93

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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