MIRA INFORM REPORT

Report Date :

15.01.2011

IDENTIFICATION DETAILS

Name :	KREATORS & CONCEPTS
Registered Office :	Room 503, 5/F., Silvercord Tower 2, 30 Canton Road, Tsimshatsui, Kowloon
Country :	Hong Kong
Date of Incorporation :	09.07.2008
Com. Reg. No.:	39524639-000-07
Legal Form :	Sole Proprietorship
Line of Business :	Importer, Exporter and Wholesaler of Loose diamonds, emerald, precious stones, gem sets

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 Concern
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

KREATORS & CONCEPTS

Company ADDRESS

Room 503, 5/F., Silvercord Tower 2, 30 Canton Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE: 3741 1355

FAX: 3019 1930

MANAGEMENT

Manager: Mr. Sanjay Kumar Pravinghandra Chavada

SUMMARY

Establishment: 9th July, 2008.

Organization: Sole Proprietorship.

Capital: Not disclosed.

Business Category: Diamond Trader.

Employees: 2.

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

Banking Relation: Satisfactory.

company ADDRESS

Head Office:-

Room 503, 5/F., Silvercord Tower 2, 30 Canton Road, Tsimshatsui, Kowloon, Hong Kong.

Affiliated Company:-

Kay International

Flat E1, 3/F., Block 2, Hang Fung Industrial Building, 2G Hok Yuen Street, Hunghom, Kowloon, Hong Kong.

Business Partners:-

Anee Gems, Hong Kong.

Krunal Enterprise, India.

BUSINESS REGISTRATION NUMBER:

39524639-000-07

MANAGEMENT

Manager: Mr. Sanjay Kumar Pravinghandra Chavada

SOLE PROPRIETOR

Name: Mr. Sanjay Kumar Pravinghandra CHAVADA

Residential Address: Nearnay Nagar Sel 7-B, Block L-5, Ahemdabad, India.

HISTORY

The subject was established on 9th July, 2008 as a sole proprietorship concern owned by Mr. Sanjay Kumar Pravinghandra Chavada under the Hong Kong Business Registration Regulations.

Initially the subject was located at Room 2605, 26/F., Metropolis Tower 1, 8 Metropolis Drive, Hunghom, Kowloon, Hong Kong, moved to Flat E1, 3/F., Block 2, Hang Fung Industrial Building, 2G Hok Yuen Street, Hunghom, Kowloon, Hong Kong in June 2009; and further moved to the present address in June 2010.

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

OPERATIONS

Activities: Importer, Exporter and Wholesaler.

Lines: Loose diamonds, emerald, precious stones, gem sets,

Employees: 2.

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

Markets: Japan, India, other Asian countries.

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

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

FINANCIAL INFORMATION

Capital: Not disclosed.

Profit or Loss: Making a small loss in 2009.

Condition: Business is improving.

Facilities: Making rather active use of general banking facilities.

Payment: Met trade obligations as required.

Commercial Morality: Satisfactory.

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

Standing: Small.

GENERAL

Kreators & Concepts is a sole proprietorship set up and owned by Mr. Sanjay Kumar Pravinghandra Chavada. Chavada is an India passport holder and does not have the right to reside in Hong Kong permanently.

Formerly the subject shared the same operating office with its affiliate Kay International which is located at Flat E1, 3/F., Block 2, Hang Fung Industrial Building, 2G Hok Yuen Street, Hunghom, Kowloon, Hong Kong. Kay International is a Hong Kong-registered firm and also operated by Sanjay Kumar Pravinghandra Chavada. Kay International is also a diamond trader.

The subject moved to the present address in early June 2010.

The subject is trading in loose diamonds, emerald, precious stones, gem sets, semi-precious stones, blue or coloured sapphire, etc. Commodities are imported from India and some of the Asian and European countries.

Polished and cut diamonds are marketed in Hong Kong, re-exported or re-exported to Japan and other Asian countries. Business is improving.

The subject’s business is chiefly handled by Chavada himself. Chavada has got business ties with a number of the jewellery suppliers and manufacturers in India while most of them are in Mumbai.

One of its Indian supplies is Krunal Enterprise [Krunal] which is a rather significant India-based firm.

Krunal is a manufacturer, supplier, importer and exporter of a versatile range of diamonds like full cut marquise diamonds, full cut pears diamonds, full cut tapper diamonds, buggetts, rose cuts diamonds, round brilliant cut diamonds and many more. It is specialized in manufacturing diamond rings, diamond pendants, diamond earrings or jewellery in customized designs.

The subject is trading in Krunal’s products. Chavada always goes back to his native country of commodities sourcing.

As the history of the subject is just over two years and five months in Hong Kong, on the whole, consider it good for 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.45.30
UK Pound	1	Rs.71.73
Euro	1	Rs.60.40

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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