MIRA INFORM REPORT

Report Date :

02.06.2011

IDENTIFICATION DETAILS

Name :	LOTUS STAR LTD.
Registered Office :	1201, 12th Floor, 5-9 Hart Avenue Plaza, TST Kowloon
Country :	Hong Kong
Date of Incorporation :	10.07.2009
Com. Reg. No.:	50881543
Legal Form :	Private Limited Company
Line of Business :	Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery products, 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 – March 31^st, 2011

Country Name	Previous Rating (31.12.2010)	Current Rating (31.03.2011)
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

LOTUS STAR LTD.

Company ADDRESS

1201, 12th Floor, 5-9 Hart Avenue Plaza, TST Kowloon, Hong Kong

PHONE: Not available

FAX: Not available

MANAGEMENT

Managing Director: Mr. Prit Saileshbhai Savani

SUMMARY

Incorporated on: 10th July, 2009.

Organization: Private Limited Company.

Capital: Nominal: HK$1,000,000.00

Issued: HK$1,000,000.00

Business Category: Diamond Trader.

Employees: 2.

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

Banking Relation: Satisfactory.

Company ADDRESS

Registered Head Office:-

1201, 12th Floor, 5-9 Hart Avenue Plaza, TST Kowloon, Hong Kong

BUSINESS REGISTRATION NUMBER

50881543

COMPANY FILE NUMBER

1352271

MANAGEMENT

Managing Director: Mr. Prit Saileshbhai Savani

CAPITAL

Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)

Issued Share Capital: HK$1,000,000.00

SHAREHOLDERS

(As per registry dated 10-07-2010)

Name		No. of shares
Prit Saileshbhai SAVANI		500,000
Shail Vijay SHAH		500,000
		––––––––
	Total:	1,000,000 =======

DIRECTOR

(As per registry dated 10-07-2010)

Name (Nationality)	Address
Prit Saileshbhai SAVANI	Room 5, Flat A, 4/F., South Sea Apartments, 81 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.

SECRETARY

(As per registry dated 10-07-2010)

Name	Address
Bayani Divino Bautista PONCE	13/F., 5 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.

HISTORY

The subject was incorporated on 10th July, 2009 as a private limited liability company under the Hong Kong Companies Ordinance.

Formerly the subject was located at Unit E2, 6/F., Summit Building, 30 Man Yue Street, Hunghom, Kowloon, Hong Kong moved to the present address i.e., 1201, 12th Floor, 5-9 Hart Avenue Plaza, TST Kowloon, Hong Kong.

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, etc.

Employees: 2.

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

Markets: Hong Kong, Japan, Taiwan, other Asian countries, etc.

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

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

FINANCIAL INFORMATION

Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)

Issued Share Capital: HK$1,000,000.00

Profit or Loss: Made a small loss in 2009.

Condition: Business is under development.

Facilities: Making fairly active use of general banking facilities.

Payment: Met trade commitments as required.

Commercial Morality: Satisfactory.

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

Standing: Small.

GENERAL

Having issued 1 million ordinary shares of HK$1.00 each, Lotus Star Ltd. formerly was wholly-owned by Sujalkumar Kerulbhai Mehta who is an Indian. Now, it is equally owned by Mr. Prit Saileshbhai Savani and Mr. Shail Vijay Shah. Currently, the latter is residing in Mumbai, India.

Residing in Hong Kong, Savani is the only director of the subject. He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently.

The subject is a diamond importer, exporter and wholesaler. It is engaged in manufacturing loose diamonds like marquise, pears, tappers, buggets and rose cut diamonds. Most of the commodities are imported from Mumbai, India. Prime markets are Hong Kong, Japan, Taiwan, other Asian countries, etc. Business is still under development.

Shah has had a number of affiliated diamond suppliers in Mumbai so that he is responsible for the supplying of the commodities to the subject.

The subject shares its operating office with another firm in Hong Kong. The other firm seems to be Cerise Diam Ltd. which is also a diamond trader.

The individual secretary of the subject Bayani Divino Bautista Ponce is also an Indian who is a Hong Kong ID card holder. To our knowledge, Ponce is one of the directors of a Hong Kong-registered firm Facets Hong Kong Ltd., and is also the secretary of a number of Indian firms in Hong Kong.

Since the history of the subject in Hong Kong is just over a year and five months, 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.44.89
UK Pound	1	Rs.73.85
Euro	1	Rs.64.76

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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