MIRA INFORM REPORT

Report Date :

25.07.2011

IDENTIFICATION DETAILS

Name :	WINDIAM TRADING CO.

Registered Office :	Flat A, 8/F., Ashley Mansion, 10-14 Ashley Road, Tsimshatsui, Kowloon

Country :	Hong Kong

Date of Incorporation :	19.01.2006

Com. Reg. No.:	36383278-000-01

Legal Form :	Sole Proprietorship

Line of Business :	Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery products, precious stones, etc.

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Small Company

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 – 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

Bottom of Form

Company name

WINDIAM TRADING CO.

Company ADDRESS

Flat A, 8/F., Ashley Mansion, 10-14 Ashley Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE: Not available

FAX: Not available

MANAGEMENT

Manager: Mr. Ritesh Kailesh Chauhan

SUMMARY

Establishment: 19th January, 2006.

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: Satisfactory.

Company ADDRESS

Head Office:-

Flat A, 8/F., Ashley Mansion, 10-14 Ashley Road, Tsimshatsui, Kowloon, Hong Kong.

BUSINESS REGISTRATION NUMBER

36383278-000-01

MANAGEMENT

Manager: Mr. Ritesh Kailesh Chauhan

SOLE PROPRIETOR

Name: Ritesh Kailesh CHAUHAN

Residential Address: 602 Ramjharukha Building, Plot 116, Sector I, Charkop Kandivali (W), Mumbai-67, India.

HISTORY

The subject was established on 19th January, 2006 as a sole proprietorship concern owned by Mr. Nilesh Manharlal Chauhan under the Hong Kong Business Registration Regulations.

The following table shows the changes of the partners:-

Name	Incoming Date	Outgoing Date
Nilesh Manharlal CHAUHAN	19-01-2006	08-04-2006
YE Yongfeng	15-02-2006	13-05-2008
Ritesh Kailesh CHAUHAN	23-04-2008	-

At the very beginning, the subject was located at Flat H, 13/F., Windsor Mansion, 29-31 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong, moved to Room 2303, 23/F., Office Tower, Convention Plaza, 1 Harbour Road, Wanchai, Hong Kong in February 2006; and further to the present address in May 2008.

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, precious stones, etc.

Employees: Nil.

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

Markets: Japan, Southeast Asia, Europe, Middle East, Scandinavia, 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: Making a very small profit in the past two years.

Condition: Business is fairly active.

Facilities: Making fairly active use of general banking facilities.

Payment: Met trade commitments as contracted.

Commercial Morality: Satisfactory.

Bankers:-

· The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

· Indian Overseas Bank, Hong Kong Branch.

Standing: Small.

GENERAL

Windiam Trading Co. is a sole proprietorship set up and owned by Mr. Ritesh Kailesh Chauhan who is an Indian. He is an India passport holder and does not have the right to reside in Hong Kong permanently.

The subject’s registered address is located at Flat A, 8/F., Ashley Mansion, 10-14 Ashley Road, Tsimshatsui, Kowloon, Hong Kong. This office is not in a commercial building but a residential building. It is likely that Chauhan has moved to this new address but does not make any amendments on the subject’s registration materials. It seems that the subject’s operating address is also Chauhan’s residential address. The residential building is not trespassed by outsiders.

The subject’s telephone number and fax number have not registered with local telephone company nor listed on telephone directories.

The subject has no employees in Hong Kong.

The subject is a loose, cut and polished diamond importer, exporter and wholesaler. Raw materials and products are chiefly imported from India, Thailand, Belgium, etc. Processed diamonds or jewellery products are marketed in Hong Kong and exported to the United States, Europe or the Middle East. Business is fairly active.

The subject’s business is chiefly handled by Chauhan himself. Formerly the subject had got a Chinese partner Mr. Ye Yongfeng who retired on 13th May, 2008.

The old partner of the subject Mr. Nilesh Manharlal Chauhan [N. M. Chauhan] and Mr. Sanket Bharat Shah set up a partnership HK Export which was established on 7th March, 2006. Located at a different address, HK Export is also a diamond trader. N. M. Chauhan’s partner Shah is also an Indian.

Chauhan was the old partner of Fab Crystal which was established on 29th June, 2010. He retired from Fab Crystal on 16th July, 2010.

The subject is just a one-man company. History in Hong Kong is just over five years and six months.

Since the registered office of the subject is in a residential building, on the whole, consider it good for normal business engagements on secured basis.

COURT CASES: None per our.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.38
UK Pound	1	Rs.72.34
Euro	1	Rs.63.87

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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