MIRA INFORM REPORT

Report Date :

24.01.2011

IDENTIFICATION DETAILS

Name :	EASTERN GLOBE TRADING COMPANY
Registered Office :	Room A, 3/F., Ocean View Court, 25A Chatham Road South, Tsimshatsui, Kowloon
Country :	Hong Kong
Date of Incorporation :	03.08.2009
Com. Reg. No.:	50950003-000-08
Legal Form :	Sole Proprietorship
Line of Business :	Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery products, emerald, precious stones, etc.

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 :	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

EASTERN GLOBE TRADING COMPANY

Company ADDRESS

Room A, 3/F., Ocean View Court, 25A Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.

PHONE: Not available

FAX: Not available

MANAGEMENT

Manager: Mr. Hiteshkumar Tarachand Parihar (Mobile: 9528 5751)

SUMMARY

Establishment: 3rd August, 2009.

Organization: Sole Proprietorship.

Capital: Not disclosed.

Business Category: Diamond Trader.

Employees: Nil.

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

Banking Relation: Fair.

Company ADDRESS

Head Office:-

Room A, 3/F., Ocean View Court, 25A Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.

Affiliated Company:-

Paramount Trading Company, Hong Kong. (Same address)

BUSINESS REGISTRATION NUMBER

50950003-000-08

MANAGEMENT

Manager: Mr. Hiteshkumar Tarachand Parihar

SOLE PROPRIETOR

Name: Mr. Hiteshkumar Tarachand PARIHAR

Residential Address: R. No. 9 Mukadam Chawl, Subhash Nagar, Jogeshwari (E), Mumbai-60, MS, India.

HISTORY

The subject was established on 3rd August, 2009 as a sole proprietorship concern owned by Mr. Hiteshkumar Tarachand Parihar under the Hong Kong Business Registration Regulations.

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 and jewellery products, emerald, precious stones, etc.

Employees: Nil.

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

Markets: Hong Kong, other Asian countries, etc.

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

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

FINANCIAL INFORMATION

Capital: Not disclosed.

Profit or Loss: Made a small loss in 2010.

Condition: Business is under development.

Facilities: Making fairly active use of general banking facilities.

Payment: Met trade commitments as required.

Commercial Morality: Too early to comment.

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

Standing: Small.

GENERAL

Eastern Globe Trading Company is a sole proprietorship set up and owned by Mr. Hiteshkumar Tarachand Parihar who is an Indian holding an India passport. He does not have the right to reside in Hong Kong permanently.

The subject’s operating office is in the residence of the sole proprietor in Hong Kong which is located at Room A, 3/F., Ocean View Court, 25A Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.

The subject’s telephone number and fax number have not registered with local telephone company nor listed on telephone directories. However, Parihar can be reached at his mobile phone number 9528 5751.

Business commenced in August 2009, the subject is a diamond, precious and semi-precious stone and jewellery product trader. It is also a commission agent. Polished, cut and loose diamonds are imported from India while semi‑precious stones are imported from some of the Asian countries. Some of the commodities are polished and cut diamonds while some of the rough diamonds are polished or processed in Hong Kong. Finished products and polished diamonds are marketed in Hong Kong and exported or re-exported to Japan, other Asian countries and the Middle East. Business is still under development.

Business handled by Parihar himself, the subject has no other employees in Hong Kong. History in Hong Kong is over a year and five months. Parihar has had a number of affiliated diamond suppliers in Mumbai, India.

Besides the subject, Parihar set up another sole proprietorship known as Paramount Trading Company [Paramount] on 1st April, 2007. Paramount is also a diamond trader and located at the same address of the subject. The history of Paramount in Hong Kong is over three years and nine months.

On the whole, consider the subject good for normal business engagements on L/C basis.

COURT CASES: None per our.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.70
UK Pound	1	Rs.72.78
Euro	1	Rs.61.65

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

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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