MIRA INFORM REPORT

Report Date :

17.01.2011

IDENTIFICATION DETAILS

Name :	STAR GRACE LTD
Registered Office :	C/o Hong Kong Professional Secretarial Services Ltd., Room 3208, 32/F., Central Plaza, 18 Harbour Road, Wanchai,
Country :	Hong Kong
Date of Incorporation :	04.07.2008
Com. Reg. No.:	39619361
Legal Form :	Private Limited Company
Line of Business :	The subject was a diamond importer, exporter and wholesaler

RATING & COMMENTS

MIRA’s Rating :

C

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	No Operating in Hong Kong
Payment Behaviour :	Unknown
Litigation :	--

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 & ADDRESS

STAR GRACE LTD.

ADDRESS

Registered Office:-

c/o Hong Kong Professional Secretarial Services Ltd.

Room 3208, 32/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong.

Affiliated Company:-

Crown Gallant Ltd.

c/o Libra Consulting Co.

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

[ Tel: 2862 0063

Fax: 2491 6310

E-mail: info@libramigration.com ]

BUSINESS REGISTRATION NUMBER

39619361

COMPANY FILE NUMBER

1253268

DATE OF INCORPORATION

4th July, 2008.

CAPITAL

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

Issued Share Capital: HK$1.00

SHAREHOLDER

(As per registry dated 04-07-2009)

Name	No. of share
Deepak KUMAR	1 ==

DIRECTORS

(As per registry dated 04-07-2009)

Name (Nationality)	Address
Ram Chander SONI	AC Rawda Residence, Rolla Street, Flat No. 701, Dubai, UAE.
Deepak KUMAR	X/828, Chand Mohalla, Gandhi Ngr, Delhi-31, India.

SECRETARY

(Resigned on 04-07-2009)

Name	Address	Co. No.
Hong Kong Professional Secretarial Services Ltd.	Room 3208, 32/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong.	1101959

GENERAL

Star Grace Ltd. was incorporated on 4th July, 2008 as a private limited liability company under the Hong Kong Companies Ordinance.

The subject does not have its own operating office. Its registered office is in a commercial service firm located at Room 3208, 32/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong known as Hong Kong Professional Secretarial Services Ltd. [HKPSSL] which is handling its correspondences and documents. HKPSSL was also the corporate secretary of the subject. However, HKPSSL resigned on 4 July, 2009.

The subject has no employees in Hong Kong.

According to the Companies Registry of Hong Kong, the subject has issued just 1 ordinary share of HK$1.00 which is owned by Mr. Deepak Kumar who is an India passport holder. He and Mr. Ram Chander Soni are the directors of the subject. The latter is also an India passport holder but residing in Dubai, the United Arab Emirates.

The subject is a diamond importer, exporter and wholesaler. Rough diamonds are imported from India, Belgium and other European countries. Diamonds may be processed, polished and cut in Hong Kong or China. Finished products are exported to Asian countries, the Middle East and Europe, etc. Business is not active in Hong Kong.

It is likely that the subject has got affiliated companies in India and the United Arab Emirates.

It is likely that the India firm deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong.

The subject has been banking with The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong, it is reported.

The subject’s history in Hong Kong is less than two years.

In Hong Kong, the subject has got an affiliated company Crown Gallant Ltd. [Crown Gallant] which is a Hong Kong registered company incorporated on 31st August, 2007.

According to the Companies Registry of Hong Kong, Crown Gallant has issued 2 ordinary shares of HK$1.00 each which are equally owned by Mr. Ramesh Kumar Kadel and E.D. Diamonas B.V.B.A., a Belgium-based firm. Mr. Ramesh Kumar Kadel and Mr. Deepak Kumar are directors of Crown Gallant. The former is also an India passport holder.

Crown Gallant is also a diamond trader. It also does not have its own operating office. Its registered office is in a commercial service firm located at Room 2301-2301A, 23/F., World Wide House, 19 Des Voeux Road Central, Hong Kong known as Libra Consulting Co. which is handling its correspondences and documents.

On the whole, since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on secured terms.

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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