MIRA INFORM REPORT

Report Date :

27.07.2011

IDENTIFICATION DETAILS

Name :	ALPHA IMPEX

Registered Office :	Room 1507, 15/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon

Country :	Hong Kong

Date of Incorporation :	30.03.1987

Com. Reg. No.:	10923767-000-03

Legal Form :	Sole Proprietorship

Line of Business :	Importer, Exporter and Wholesaler of Polished diamonds, gemstones, piecegoods, spectacle lenses, 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

ALPHA IMPEX

Company ADDRESS

Room 1507, 15/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

PHONE: 2311 5568

FAX: 2311 6296

E-MAIL: alpimp97@hkstar.com

MANAGEMENT

Manager: Mr. Rakesh Sindher

SUMMARY

Establishment: 30th March, 1987.

Organization: Sole Proprietorship.

Capital: Not disclosed.

Business Category: Diamond Trader.

Annual Turnover: US$3~4 million.

Employees: 3.

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

Banking Relation: Satisfactory.

Company ADDRESS

Head Office:-

Room 1507, 15/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

P.O. Box 96571, Tsim Sha Tsui Post Office, Kowloon, Hong Kong.

BUSINESS REGISTRATION NUMBEr

10923767-000-03

MANAGEMENT

Manager: Mr. Rakesh Sindher

SOLE PROPRIETOR

Name: Mr. Rakesh SINDHER

Residential Address: Flat B2, 14/F., Majestic House, 80 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.

HISTORY

The subject was established on 30th March, 1987 as a sole proprietorship concern owned by Mr. Rakesh Sindher under the Hong Kong Business Registration Regulations.

The following table shows the changes of the partners:-

Name	Incoming Date	Outgoing Date
Rakesh SINDHER	30-03-1987 01-04-2001	01-04-2000 -
Juhi R. CHANDNANI	01-09-1998	01-04-2000
Babita SINDHER	01-09-1998	16-05-2001

Initially the subject was located at Flat C, 11/F., Hanley House, 68-80 Canton Road, Tsimshatsui, Kowloon, Hong Kong, moved to Flat B, 10/F., Savoy Mansion, 49 Carnarvon Road, Tsimshatsui, Kowloon, Hong Kong in May 1993; to Flat B2, 14/F., Majestic House, 80 Nathan Road, Tsimshatsui, Kowloon, Hong Kong in October 1997; to Room 1001, 10/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong in September 2000; to Room 1306, 13/F. of the same building in August 2002; and further moved to Room 1507, 15/F. of the same building in May 2007.

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

OPERATIONS

Activities: Importer, Exporter and Wholesaler.

Lines: Polished diamonds, gemstones, piecegoods, spectacle lenses, etc.

Employees: 3.

Commodities Imported: India, Taiwan, China, other Asian countries, US, etc.

Markets: Japan, Singapore, Thailand, US, etc.

Annual Turnover: US$3~4 million.

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 small profit every year.

Condition: Keeping in a satisfactory manner.

Facilities: Making rather active use of general banking facilities.

Payment: Met trade commitments as required.

Commercial Morality: Satisfactory.

Bankers:-

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

· Hang Seng Bank Ltd., Hong Kong.

Standing: Normal.

GENERAL

Alpha Impex is a sole proprietorship set up on 30th March, 1987 and owned by Mr. Rakesh Sindher who is an Indian. He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently. The subject had two more partners but has retired.

The subject is a diamond importer, exporter and wholesaler. It is importing, exporting and wholesaling the following commodities:-

· Polished Diamonds (from melee size to 0.50 carat)

· Gemstones (emerald, ruby, sapphire blue, etc.

· Jewellery (diamond gold jewellery, gemset gold jewellery — 18 karat)

Most of the commodities are imported from India, Thailand, etc. Prime markets are Japan, Singapore, Thailand, the United States, etc.

It is reported that the subject also trades in the following commodities:-

· Piecegoods – Vegetable Fibre (From Taiwan and China)

· Fabric – Cotton, Knitted (From Taiwan and China)

· Yarn – Acrylic

· Integrated Circuit [IC]

· Sunglasses

· Spectacle Lens

· Spectacle Frame – Metal

· Spectacle Frame – Plastic

· Plastic Materials (including Resins and Sheet) (From USA and Taiwan)

· Sheet – Plastic (Soft)

However, the quantities of the above-mentioned products traded are not large. The annual sales turnover of the subject ranges from HK$3 to 4million. Making a small profit every year.

As the history of the subject is over twenty-four years and three months in Hong Kong, on the whole, consider it good for normal business engagements.

COURT CASES: None per our.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.29
UK Pound	1	Rs.72.37
Euro	1	Rs.64.17

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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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.