MIRA INFORM REPORT

Report Date :

17.06.2011

IDENTIFICATION DETAILS

Name :	RICHMEN INTERNATIONAL LTD.
Registered Office :	c/o Buttar.HK Ltd., Unit R, 1/F., Mau Lam Commercial Building, 16-18 Mau Lam Street, Jordan, Kowloon
Country :	Hong Kong
Date of Incorporation :	06.01.2010
Com. Reg. No.:	51691331
Legal Form :	Private Limited Company
Line of Business :	Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery products

RATING & COMMENTS

MIRA’s Rating :

NB

RATING		STATUS	PROPOSED CREDIT LINE
----	NB	New Business	----

Status :	New Company
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)
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

RICHMEN INTERNATIONAL LTD.

Company ADDRESS

c/o Buttar.HK Ltd.

Unit R, 1/F., Mau Lam Commercial Building, 16-18 Mau Lam Street, Jordan, Kowloon, Hong Kong.

PHONE: 2312 0148

FAX: 2375 6513

MANAGEMENT

Managing Director: Mr. Deven Nagindas Jhaveri

SUMMARY

Incorporated on: 6th January, 2010.

Organization: Private Limited Company.

Capital: Nominal: HK$10,000.00

Issued: HK$10,000.00

Business Category: Diamond Trader.

Employees: Nil.

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

Banking Relation: Satisfactory.

Company ADDRESS

Registered Head Office:-

c/o Buttar.HK Ltd.

Unit R, 1/F., Mau Lam Commercial Building, 16-18 Mau Lam Street, Jordan, Kowloon, Hong Kong.

Affiliated Companies:-

Al Sidra Jewellery Ltd., Hong Kong.

Sun World Inc. Ltd., Hong Kong.

BUSINESS REGISTRATION NUMBER

51691331

COMPANY FILE NUMBER

1408711

MANAGEMENT

Managing Director: Mr. Deven Nagindas Jhaveri

CAPITAL

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

Issued Share Capital: HK$10,000.00

SHAREHOLDER

(As per registry dated 06-02-2011)

Name	No. of shares
Deven Nagindas JHAVERI	10,000 =====

DIRECTOR

(As per registry dated 06-02-2011)

Name (Nationality)	Address
Devan Nagindas JHAVERI	Flat 22, Sailor Apartments, 24 Ridge Road, Malbar Hill, Mumbai 6, India.

SECRETARY

(As per registry dated 06-02-2011)

Name	Address	Co. No.
Buttar.HK Ltd.	1/F., Mau Lam Commercial Building 16-18 Mau Lam Street, Jordan Kowloon, Hong Kong.	0975326

HISTORY

The subject was incorporated on 6th January, 2010 as a private limited liability company under the Hong Kong Companies Ordinance.

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.

Employees: Nil.

Commodities Imported: India, etc.

Markets: Hong Kong, other Asian countries, etc.

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

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

FINANCIAL INFORMATION

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

Issued Share Capital: HK$10,000.00

Profit or Loss: Too early to offer an opinion.

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 10,000 ordinary shares of HK$1.00 each, Richmen International Ltd. is wholly-owned by Mr. Deven Nagindas Jhaveri who is an Indian. He is an India passport holder and does not have the right to reside in Hong Kong permanently. Jhaveri is also the only director of the subject.

Business commenced in January 2010, the subject does not have its own operating office. Its registered office is in a commercial service firm located at 1/F., Mau Lam Commercial Building, 16-18 Mau Lam Street, Jordan, Kowloon, Hong Kong known as Buttar.HK Ltd. which is handling its correspondences and documents. Buttar.HK Ltd. is also the corporate secretary of the subject.

The subject has no employees in Hong Kong. It is a diamond importer, exporter and wholesaler. It is engaged in manufacturing loose diamonds like marquise, pears, tappers, buggets and rose cut diamonds. Commodities are chiefly imported from Mumbai, India.

Most of the time, Jhaveri is not in Hong Kong. It is likely that the subject has got an affiliated company in Mumbai, India which is also operated by Jhaveri. However, details are unknown. The India firm deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong.

The subject has got two affiliated companies known as Al Sidra Jewellery Ltd. and Sun World Inc. Ltd. located at the same registered address. Incorporated on 23rd January, 2010 in Hong Kong, Al Sidra Jewellery Ltd. is also owned and operated by Jhaveri.

Having issued 10,000 ordinary shares of HK$1.00 each and incorporated on 11th January, 2010, Sun World Inc. Ltd. is also wholly-owned by Jhaveri.

The subject’s business in Hong Kong is not very active.

Since the subject does not have its own operating office and has no employees in Hong Kong, on the whole, consider it good for business engagements on secured basis.

COURT CASES: None per our.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.90
UK Pound	1	Rs.72.54
Euro	1	Rs.63.39

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

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.