MIRA INFORM REPORT

Report Date :

07.06.2011

IDENTIFICATION DETAILS

Name :	GOLDEN JEWEL
Formerly Known As :	HENGSENG TRADING
Registered Office :	Flat B1, 2/F., Block B, Prat Mansions, 26-36 Prat Avenue, Tsimshatsui, Kowloon
Country :	Hong Kong
Date of Incorporation :	07.03.2008
Com. Reg. No.:	Sole Proprietorship
Legal Form :	39009243-000
Line of Business :	Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery products, emerald, precious stones, 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 – June 30, 2010

Country Name	Previous Rating (01.04.2010)	Current Rating (30.06.2010)
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

GOLDEN JEWEL

(Formerly known as HENGSENG TRADING)

ADDRESS

Flat B1, 2/F., Block B, Prat Mansions, 26-36 Prat Avenue, Tsimshatsui, Kowloon, Hong Kong.

PHONE: Not available

FAX: Not available

(Formerly located at: Flat B4, 11/F., Block B of the same building.)

MANAGEMENT

Manager: Mr. Nileshkumar Bholabhai Patel

SUMMARY

Establishment: 7th March, 2008.

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: Fair.

ADDRESS

Head Office:-

Flat B1, 2/F., Block B, Prat Mansions, 26-36 Prat Avenue, Tsimshatsui, Kowloon, Hong Kong.

Affiliated Company:-

Star Impex, Hong Kong. (Same address)

BUSINESS REGISTRATION NUMBER

39009243-000

MANAGEMENT

Manager: Mr. Nileshkumar Bholabhai Patel

SOLE PROPRIETOR

Name: Mr. Nileshkumar Bholabhai PATEL

Residential Address: 11/F., Prat Mansion, 26-36 Part Avenue, Tsimshatsui, Kowloon, Hong Kong.

HISTORY

The subject was established on 7th March, 2008 as a sole proprietorship concern owned by Mr. Nileshkumar Bholabhai Patel under the Hong Kong Business Registration Regulations.

At the beginning, the subject was registered under the name of Hengseng Trading, name changed to the present style on 3rd May, 2010.

Initially the subject was located at Flat B4, 11/F., Block B, Prat Mansions, 26‑36 Prat Avenue, Tsimshatsui, Kowloon, Hong Kong, moved to Flat B1, 2/F., Block B of the same building in December 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, emerald, precious stones, etc.

Employees: Nil.

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

Markets: Japan, other Asian countries, etc.

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

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

FINANCIAL INFORMATION

Capital: Not disclosed.

Profit or Loss: Making 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: Too early to comment.

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

Standing: Small.

GENERAL

Formerly known as Hengseng Trading, Golden Jewel is a sole proprietorship which is owned by Mr. Nileshkumar Bholabhai Patel 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 B1, 2/F., Block B, Prat Mansions, 26-36 Prat Avenue, Tsimshatsui, Kowloon, Hong Kong. This office is not in a commercial building but a residential building. It is likely that Mr. Patel has moved to this new address but has not made any amendments on the subject’s registration materials. It seems that the subject’s operating address is also Mr. Patel’s new 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. It has no employees in Hong Kong.

The subject has had an affiliated company Star Impex located at its operating address. Established on 22nd June, 2007, Star Impex is a sole proprietorship set up and owned by Mr. Saileshkumar Karsanbhai Bhimani who is an Indian. Star Impex is also a diamond trader.

The subject is a diamond importer, exporter and wholesaler. It is also a commission agent. Rough diamonds are imported from India, Belgium and other European countries, etc. Some of the commodities are polished and cut diamonds. Some of the raw diamonds are polished or processed in Hong Kong or China. Finished products and polished diamonds are exported or re-exported to Japan, India and other Asian countries. Business is still under development.

History of the subject in Hong Kong is more than two years. It is just a one‑man company.

On the whole, since the registered office of the subject is in a residential building, consider it good for normal business engagements on L/C basis.

COURT CASES: None per our.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.72
UK Pound	1	Rs.73.46
Euro	1	Rs.65.47

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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