MIRA INFORM REPORT

Report Date :

17.01.2011

IDENTIFICATION DETAILS

Name :	BEAUTY - DIAM
Registered Office :	Room 908, 9/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon,
Country :	Hong Kong
Date of Incorporation :	15.01.1997
Com. Reg. No.:	20640474-000-01
Legal Form :	Sole Proprietorship.
Line of Business :	Importer, Exporter and Wholesaler of all kinds of precious stones and diamond.

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 :	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

name of company

BEAUTY - DIAM

company ADDRESS

Room 908, 9/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

PHONE: 2366 4478, 2366 4475

FAX: 2366 4076

E-MAIL: piyushkala@hotmail.com

MANAGEMENT

Manager: Mr. Piyush Bhagchand Kala

SUMMARY

Establishment: 15th January, 1997.

Organization: Sole Proprietorship.

Capital: Not disclosed.

Business Category: Importer, Exporter and Wholesaler.

Employees: 4. (Including affiliate)

Main Dealing Banker: The Bank of East Asia Ltd., Hong Kong.

Banking Relation: Satisfactory.

company ADDRESS

Head Office:-

Room 908, 9/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

Affiliated Companies:-

Beauty - Diam, India.

Beauty Diam Co. Ltd., Hong Kong. (Same address)

Kris Diamond, Hong Kong. (Same address)

BUSINESS REGISTRATION NUMBER

20640474-000-01

MANAGEMENT

Manager: Mr. Piyush Bhagchand Kala

SOLE PROPRIETOR

Name: Mr. Piyush Bhagchand KALA

Residential Address: Room 9C, Bo Yip Building, 6 Ashley Road, Tsimshatsui, Kowloon, Hong Kong.

HISTORY

The subject was established on 15th January, 1997 as a sole proprietorship concern owned by Mr. Piyush Bhagchand Kala under the Hong Kong Business Registration Regulations.

Initially the subject’s office was located at Room 3E, Wah Fung Mansion, 17‑23 Minden Avenue, Tsimshatsui, Kowloon, Hong Kong, moved to Block I, 12/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong in October 1997; to Room E, 10/F. of the same building in January 1999; to Room 4, Block B, 14/F., Prat-Mansion, 26-36 Prat Avenue, Tsimshatsui, Kowloon, Hong Kong in November 2000; to Room 906, 9/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong in March 2004; and further to Room 908, 9/F. of the same building in September 2009.

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

OPERATIONS

Activities: Importer, Exporter and Wholesaler.

Lines: All kinds of precious stones and diamond.

Employees: 4. (Including affiliate)

Commodities Imported: India, Europe, etc.

Markets: Hong Kong (main), etc.

Terms/Sales: COD or as per contracted.

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

FINANCIAL INFORMATION

Capital: Not disclosed.

Profit & Loss: Making a small profit every year.

Condition: Keeping in a satisfactory state.

Facilities: Making rather active use of general banking facilities.

Payment: Met trade commitments on time.

Commercial Morality: Satisfactory.

Bankers

· The Bank of East Asia Ltd., Hong Kong.

· Bank of China (Hong Kong) Ltd., Hong Kong.

Standing: Small.

GENERAL

Beauty - Diam is a sole proprietorship concern set up and owned by Mr. Piyush Bhagchand Kala who is an Indian. Mr. Kala is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.

Operating in a rented office, the subject moved to the present address in September 2009.

The subject has got an affiliated company Beauty Diam Co. Ltd. [BDCL] located at its operating address. Kala is also the director of BDCL.

The subject is trading in all kinds of precious stones such as sapphires, ruby, diamonds and diamond jewellery. Commodities are chiefly imported from India while small quantities are imported from Belgium, Israel, etc. Hong Kong is its prime market. Most of its clients are diamond manufacturers and retailers in Hong Kong. It also exports some of its finished products such as cut and polished diamonds to Japan, other Asian countries, Europe, the Middle East, etc. Overall business is satisfactory.

Mr. Kala always travels to India where he purchases rough and polished diamonds and other precious stones. He has got a number of suppliers in Mumbai, India. The subject is also supported by Beauty - Diam which is an India-based firm. The Indian firm is also trading in diamonds. This firm is the subject’s main supplier.

Having a history of over thirteen years and two months, the subject has developed long-term business ties with a number of regular local and foreign clients.

Besides BDCL, the subject has had another affiliated company Kris Diamond located at its operating address. Kris Diamond was established on 1st January, 2004 as a sole proprietorship concern owned by Ms. Ruchika Kala. Ms. Kala, an Indian businesswoman, is a family member of Mr. Kala. Kris Diamond’s business is chiefly handled by Ms. Ruchika Kala herself who can be reached at her mobile phone number 6486 0832.

On the whole, supported by the Kala family, the subject is considered good for normal business engagements.

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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