MIRA INFORM REPORT

Report Date :

08.07.2011

IDENTIFICATION DETAILS

Name :	IG EXPORTS

Registered Office :	Unit 23, 12/F., Block B, Focal Industrial Centre, 21 Man Lok Street, Hunghom, Kowloon

Country :	Hong Kong

Date of Incorporation :	29.05.2007

Com. Reg. No.:	37990420-000-05

Legal Form :	Sole Proprietorship

Line of Business :	Importer and Exporter of Sapphire, ruby, emerald, gemstone, diamond, etc.

RATING & COMMENTS

MIRA’s Rating :

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 – March 31^st, 2011

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Hong Kong

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company name

IG EXPORTS

company ADDRESS

Unit 23, 12/F., Block B, Focal Industrial Centre, 21 Man Lok Street, Hunghom, Kowloon, Hong Kong.

PHONE: 2366 4499

FAX: 2366 5599

E-MAIL: iskcongems@biznetvigator.com

MANAGEMENT

Manager: Ms. Sunita Agarwal

SUMMARY

Establishment: 29th May, 2007.

Organization: Sole Proprietorship.

Capital: Not disclosed.

Business Category: Precious Stone and Diamond Trader.

Employees: 5. (Including affiliates)

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

Banking Relation: Fair.

company ADDRESS

Head Office:-

Unit 23, 12/F., Block B, Focal Industrial Centre, 21 Man Lok Street, Hunghom, Kowloon, Hong Kong.

Affiliated Companies:-

Iskcon Gems, Hong Kong. (Same address)

Navaratna Exports Ltd., India.

Navaratna Exports Ltd., Thailand.

BUSINESS REGISTRATION NUMBER

37990420-000-05

MANAGEMENT

Manager: Ms. Sunita Agarwal

SOLE PROPRIETOR

Name: Ms. Sunita AGARWAL

Residential Address: Flat B, 15/F., Harbourfront Landmark, Tower 2, 11 Wan Hoi Street, Hunghom, Kowloon,

Hong Kong.

HISTORY

The subject was established on 29th May, 2007 as a sole proprietorship concern owned by Ms. Sunita Agarwal under the Hong Kong Business Registration Regulations.

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

OPERATIONS

Activities: Importer and Exporter.

Lines: Sapphire, ruby, emerald, gemstone, diamond, etc.

Employees: 5. (Including affiliates)

Commodities Imported: India, Africa, Burma, Brazil, etc.

Markets: Asia, North America, South America, Europe, etc.

Terms/Sales: As per contracted.

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

FINANCIAL INFORMATION

Capital: Not disclosed.

Profit & Loss: Kept a balance account in 2009.

Condition: Business has become normal.

Facilities: Trying to make use of general banking facilities.

Payment: Met as required.

Commercial Morality: Satisfactory.

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

Standing: Small.

GENERAL

IG Exports is a sole proprietorship set up on 29th May, 2007 and owned by Ms. Sunita Agarwal who seems to be an Indian. Ms. Agarwal a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.

The subject has got an affiliated company known as Iskcon Gems located at its operating address. Iskcon Gems is owned by Mr. Pinky Agarwal who is supposed to be a family member of Ms. Sunita Agarwal.

The subject and Iskcon Gems are engaged in the same lines of business. Currently, Iskcon Gems is trading in the following commodities:-

Product/Service	Product/Service Remarks
Fine Jewellery Gemstones and Jade
Semi-Precious Stone	Citrine, Peridot, Garnet, Aquamarine, Iolite, Tourmuline, Tahzanite and Tsavorite (Importer) Citrine, Peridot, Garnet, Aquamarine, Iolite, Tourmuline, Tahzanite and Tsavorite (Exporter)
Sapphire	From Thailand, Australia, Ceylon (Importer) From Thailand, Australia, Ceylon (Exporter)
Ruby	From Thailand, Burma, Africa (Importer) From Thailand, Burma, Africa (Exporter)
Emerald	From Brazil, Zambia, Columbia (Importer) From Brazil, Zambia, Columbia (Exporter)

The subject’s main products carried are loose diamonds, loose gemstones and loose blue topaz. Most of the commodities are import from Thailand, Burma, Africa, India, etc. Business is rather active. Finished products are exported to Asian countries, North America, South America, Europe, etc.

Besides, the subject and Iskcon Gems have got an affiliated company Navaratna Exports Ltd. [Navaratna] which is an India-based firm. Navaratna has set up a branch company in Bangkok, Thailand. Navaratna is also trading in sapphire, ruby, emerald, and other kinds of semi-precious stones. Overall business is good.

In order to penetrate the international market further, Iskcon Gems has taken part in fairs and exhibitions held in Hong Kong and other foreign large cities.

The subject is fully supported by its affiliated firms both in Hong Kong and overseas. Business is improving.

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

On the whole, consider it good for normal business engagements in small credit amounts.

COURT CASES: None per our.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.42
UK Pound	1	Rs.70.95
Euro	1	Rs.63.63

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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