MIRA INFORM REPORT

Report Date :

30.07.2011

IDENTIFICATION DETAILS

Name :	GEM DIAMONDS MARKETING SERVICES BVBA

Registered Office :	Lange Herentalsestraat 62 Antwerpen Post Code 2018

Country :	Belgium

Financials (as on) :	30.06.2010

Date of Incorporation :	29.12.2005

Com. Reg. No.:	878452091

Legal Form :	Private Limited Liability Company

Line of Business :	Wholesale of diamonds and other precious stones

RATING & COMMENTS

MIRA’s Rating :

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

Status :	Moderate
Payment Behaviour :	Unknown
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)

Belgium

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

Bottom of Form

Company Summary

Company Summary
Business Name	GEM DIAMONDS MARKETING SERVICES BVBA
Business Number	878452091
Address	LANGE HERENTALSESTRAAT 62 ANTWERPEN
Post Code	2018
Telephone	032133794
Fax Number	032034081
Date of Establishment	29/12/2005
Number of Employees	1

Credit Information Summary
Company Status	ACTIVE
Purchase Limit (€)
Date of Deposit at Registry	12/01/2011
Date of Last Accounts	30/06/2010
Turnover	-
Results of Ordinary Operations Before Tax	107,518
Networth	413,657

Past Payments
Payment Expectation Days
Days Sales Outstanding
Industry Average Payment Expectation Days	137
Industry Average Day Sales Outstanding	124.66

Court Data Summary
bankruptcy details
Court Action Type	None
Protested Bills
Bill Amount
NSSO Details
Date of Summons	//

Accounts & Ratio

Period
Accounts End Date	30/06/2010	%	30/06/2009	%	30/06/2008
Weeks	52	-	52	-	52
Currency	EUR	-	EUR	-	EUR

Profit & Loss
Turnover	-	-	-	-	-
Total Operating Expenses	-	-	-	-	-
Operating Result	68,387	-74.1%	264,333	556.3%	-57,924
Total Financial Income	103,419	729.9%	12,461	1,453.7%	802
Total Financial Expenses	7,566	-79.3%	36,483	838.6%	3,887
Results on Ordinary Operations Before Tax	164,241	-31.7%	240,311	493.9%	-61,009
Taxation	56,723	927.2%	5,522	-	-
Results on Ordinary Operations After Tax	107,518	-54.2%	234,789	484.8%	-61,009
Extraordinary Items	0	-	0	-	0
Net Result	107,518	-54.2%	234,789	484.8%	-61,009
Other Information
Dividends	-	-	-	-	-
Director Remuneration	-	-	-	-	-
Employee Costs	40,477	-13.8%	46,982	25.3%	37,498
- Wages & Salaries	32,682	-11.1%	36,747	18.8%	30,933
- Social Security Contributions	7,155	-11.8%	8,115	47.4%	5,506
- Other Employee Costs	640	-69.8%	2,120	100.2%	1,059
Amortization & Depreciation	22,849	0.0%	22,849	17.4%	19,464

Balance Sheet
Accounts End Date	30/06/2010	%	30/06/2009	%	30/06/2008
Weeks	52	-	52	-	52
Intangible Fixed Assets	0	-	0	-	0
Tangible Fixed Assets	20,599	-51.1%	42,139	-33.8%	63,680
- Land And Buildings	0	-	0	-	0
- Plant And Machinery	12,629	-38.0%	20,378	-27.6%	28,127
- Other Tangible Assets	7,970	-63.4%	21,761	-38.8%	35,553
Financial Fixed Assets	10,054	-11.1%	11,313	-8.1%	12,314
Total Fixed Assets	30,653	-42.7%	53,452	-29.7%	75,994
Inventories
- Raw Materials & Consumables	0	-	0	-	0
- Work in Progress	0	-	0	-	0
- Finished Goods	0	-	0	-	0
- Other Stocks	0	-	0	-	0
Trade Debtors	4,424	-	0	-100.0%	11,920
Cash	638,453	186.8%	222,599	-25.9%	300,373
- Miscellaneous Current Assets	546	-15.0%	642	-12.9%	737
Total Current Assets	645,729	135.5%	274,191	-12.9%	314,716

- Trade Creditors	5,525	-32.8%	8,218	-97.2%	297,807
- Short Term Group Loans	0	-	0	-	0
- Other Short Term Loans	510	-55.0%	1,133	10.1%	1,029
- Miscellaneous Current Liabilities	256,689	2,123.6%	11,544	-38.5%	18,782
Total Current Liabilities	262,724	1,157.4%	20,895	-93.4%	317,618

- Long Term Group Loans	0	-	0	-	0
- Other Long Term Loans	0	-100.0%	609	-65.1%	1,743
- Other Long Term Liabilities	0	-	0	-	0
Total Long Term Debts	0	-100.0%	609	-65.1%	1,743

- Issued Share Capital	300,000	0.0%	300,000	0.0%	300,000
- Share Premium Account	0	-	0	-	0
- Reserves	113,657	1,751.1%	6,140	102.7%	-228,650
- Revaluation Reserve	0	-	0	-	0
Total Shareholders Equity	413,657	35.1%	306,140	329.1%	71,350

Working Capital	383,005	51.2%	253,296	8,828.3%	-2,902
Net Worth	413,657	35.1%	306,140	329.1%	71,350

Ratio Analysis
Trading Performance
Pre-tax Profit Margin	-	-	-	-	-
Return On Capital Employed	39.70	-49.3%	78.34	193.9%	-83.47
Return On Total Assets Employed	24.28	-66.9%	73.35	569.9%	-15.61
Return On Net Assets Employed	42.88	-54.8%	94.87	-95.5%	2,102.31
Sales / Net Working Capital	-	-	-	-	-
Operating Efficiency
Stock Turnover Ratio	-	-	-	-	-
Debtor Days	-	-	-	-	-
Creditor Days	-	-	-	-	-
Short Term Stability
Current Ratio	2.46	-81.3%	13.12	1,225.3%	0.99
Liquidity Ratio / Acid Ratio	2.46	-81.3%	13.12	1,225.3%	0.99
Current Debt Ratio	0.64	814.3%	0.07	-98.4%	4.45
Long Term Stability
Gearing	0.12	-78.9%	0.57	-85.3%	3.89
Equity In Percentage	0.61	-34.4%	0.93	416.7%	0.18
Total Debt Ratio	0	-100.0%	0.01	-75.0%	0.04

Payment Expectations

Payment Expectations
Payment Expectation Days
Day Sales Outstanding

Industry Comparison
Activity Code	4676
Activity Description	Wholesale of other intermediate products
Industry Average Day Sales Outstanding	124.66
Industry Average Payment Expectation Days	137

Industry Quartile Analysis
Payment Expectation Days
Payment Expectations - Lower	41.25
Payment Expectations - Median	90.32
Payment Expectations - Upper	162.53
Day Sales Outstanding
Day Sales Outstanding - Lower	31.52
Day Sales Outstanding - Median	75.21
Day Sales Outstanding - Upper	158.58

Shareholders

Holding Company
Company Name	KIMBERLY DIAMOND COMPANY NL
Business Number	3954135
Share Percentage
Annual Accounts Date	//

No subsidiaries for this company.

Court Data

Protested Bills
Drawee Name	--
Drawee Address	--
Bill Amount
Bill Currency	--
Maturity of Bill (month)
Name of Drawer	--
City of Drawer	--

NSSO Details
Business Number
Name of Defendant	--
Legal Form of Defendant	--
Date of Summons
Labour Court	--

Bankruptcy Data

There is no bankruptcy data against this company.

Directors

Company Director
Full Name	STEPHEN LEE WETHERALL
Position	Manager
Address	6 ADAM CLOSE JOHANNESBURG
Postal Code	0
Country	South Africa

Company Director
Full Name	BRANDON MICHAEL DE BRUIN
Position	Manager
Address	19 GLAMORGAN ROAD JOHANNESBURG
Postal Code	0
Country	South Africa

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.16
UK Pound	1	Rs.72.10
Euro	1	Rs.63.10

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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

Latest Branch Details
Street	--
House Number
City	--
Postal Code
Trade Registered Number
Trade Registered Entry Date	//

Contractor Details
Registration Number	--
Contractor Description	--
Striking Off Date	//

Latest Event
Serial Number	183137
Event Description	Change of date of general meeting

company details
Business Number	878452091
Name	GEM DIAMONDS MARKETING SERVICES BVBA
Fax Number	032034081
Establishment Date	29/12/2005
Company Status	ACTIVE
Company Type	Private limited liability company
Activity Description	Wholesale of diamonds and other precious stones
Activity Code	46761
Liable For Vat	yes
Currency	Euro (€)