MIRA INFORM REPORT

Report Date :

11.01.2011

IDENTIFICATION DETAILS

Name :	ZENIA
Registered Office :	Room 404, 4/F., Block B, Fu Hang Industrial Building, 1 Hok Yuen Street East, Hunghom, Kowloon
Country :	Hong Kong
Date of Incorporation :	24.09.2004
Com. Reg. No.:	34938558-000-09
Legal Form :	Sole Proprietorship
Line of Business :	Importer, Exporter and Wholesaler of all kinds of diamonds, precious stones, and jewellery products.

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	No Complaints
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

ZENIA

Company ADDRESS

Room 404, 4/F., Block B, Fu Hang Industrial Building, 1 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.

PHONE: 2730 5088

FAX: 2730 5084

MANAGEMENT

Manager: Mr. Praful Chandra Madhubhai Patel

SUMMARY

Establishment: 24th September, 2004.

Organization: Sole Proprietorship.

Capital: Not disclosed.

Business Category: Diamond Trader.

Annual Turnover: HK$60~65 million.

Employees: 4. (Including affiliates)

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

Banking Relation: Satisfactory.

company ADDRESS

Head Office:-

Room 404, 4/F., Block B, Fu Hang Industrial Building, 1 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.

Affiliated Companies:-

Rio-Star

Flat H, 13/F., Kimberley Mansion, 15 Austin Avenue, Tsimshatsui, Kowloon, Hong Kong. [Solely owned by Mr. Lalit Jivraj Patel]

Vriti Diam (HK) Ltd.

Rise Commercial Building, 5-11 Granville Circuit, Tsimshatsui, Kowloon, Hong Kong. [Wholly owned by Mr. Bhavesh Narasi Patel. Directors are Mr. Bhavesh Narasi Patel and Mr. Praful Chandra Madhubhai Patel]

Vriti Diam

Flat A, 6/F., Hang Lung Bank Building, 46-48 Granville Road, Tsimshatsui, Kowloon, Hong Kong.

[Solely owned by Mr. Bhavesh Narasi Patel]

BUSINESS REGISTRATION NUMBER

34938558-000-09

MANAGEMENT

Manager: Mr. Praful Chandra Madhubhai Patel

SOLE PROPRIETOR

Name: Mr. Praful Chandra Madhubhai PATEL

Residential Address: Room 5, 10/F., Block A, Hankow Centre, 47 Peking Road, Tsimshatsui, Kowloon, Hong

Kong.

HISTORY

The subject was established on 24th September, 2004 as a sole proprietorship concern owned by Mr. Praful Chandra Madhubhai Patel under the Hong Kong Business Registration Regulations.

At the very beginning, the subject was located at Flat C, 10/F., Century House, 3-4 Hanoi Road, Tsimshatsui, Kowloon, Hong Kong, moved to Flat 29, 2/F., Block M, Kaiser Estate, Phase 3, 11 Hok Yuen Street, Hunghom, Kowloon, Hong Kong in January 2006, and further to the present address in October 2008.

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

OPERATIONS

Activities: Importer, Exporter and Wholesaler.

Lines: All kinds of diamonds, precious stones, and jewellery products.

Employees: 4. (Including affiliates)

Commodities Imported: India, Belgium and other European countries, etc.

Markets: India, other Asian countries, etc.

Annual Turnover: HK$60~65 million.

Terms/Sales: L/C and T/T.

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

FINANCIAL INFORMATION

Capital: Not disclosed.

Profit or Loss: Making a small profit every year.

Condition: Keeping in a normal condition.

Facilities: Making rather active use of general banking facilities.

Payment: Met trade commitments on time.

Commercial Morality: Satisfactory.

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

Standing: Small.

GENERAL

Zenia is a sole proprietorship set up on 24th September, 2004 and owned by Mr. Praful Chandra Madhubhai Patel 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 is a diamond importer, exporter and wholesaler. It has got affiliated companies Vriti Diam (HK) Ltd. [Vriti] and Vriti Diam in Hong Kong but located at a different address.

Having issued 100,000 ordinary shares of HK$1.00 each, Vriti is wholly owned by Mr. Bhavesh Narasi Patel who is an India passport holder. Being an Indian, Mr. B. N. Patel is residing in Hong Kong currently. One of the directors of Vriti Mr. Praful Chandra Madhubhai Patel who is also the manager of the subject was appointed on 21st July, 2008.

Vriti Diam is also owned by Mr. Bhavesh Narasi Patel.

The subject and Vriti are engaged in the same lines of business. Both are trading in loose diamonds and diamond for jewellery. Products are exported to Japan, Taiwan, South Korea, China, other Asian countries, Europe, North America, etc. Most of the polished and cut diamonds are imported from Mumbai, India.

Another affiliated firm Rio-Star is owned by Mr. Lalit Jivraj Patel. Rio-Star is also located at a different address. All the Patels belong to the same family.

The subject’s business is chiefly handled by P. C. M. Patel himself. The Patel family has had close business ties with some of the diamond suppliers and manufacturers in Mumbai, India.

The annual sales turnover of the subject ranges from HK$60 to 65 million. Making a small profit every year.

The history of the subject in Hong Kong is over six years and three months.

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

COURT CASES: None per our.

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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