MIRA INFORM REPORT

Report Date :

02.03.2011

IDENTIFICATION DETAILS

Name :	DAY SHINE LTD.
Registered Office :	Flat B, 12/F., South Sea Mansion, 81 Chatham Road, Tsimshatsui, Kowloon
Country :	Hong Kong
Date of Incorporation :	21.02.2003
Com. Reg. No.:	33730717
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 :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	Regular
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 – December 31, 2010

Country Name	Previous Rating (30.09.2010)	Current Rating (31.12.2010)
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

DAY SHINE LTD.

Company ADDRESS

Flat B, 12/F., South Sea Mansion, 81 Chatham Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE: 2314 4414, 2314 4114

FAX: 2314 4444

E-MAIL: dilip@diaccents.com

MANAGEMENT

Managing Director: Mr. Dilip Ramniklal Shah

SUMMARY

Incorporated on: 21st February, 2003.

Organization: Private Limited Company.

Capital: Nominal: HK$10,000.00

Issued: HK$2.00

Business Category: Jewellery Trader.

Employees: 3.

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

Banking Relation: Satisfactory.

Company ADDRESS

Registered Head Office:-

Flat B, 12/F., South Sea Mansion, 81 Chatham Road, Tsimshatsui, Kowloon, Hong Kong.

Affiliated Companies:-

· Aesh Diam., Hong Kong.

· Decent Dia & Jew LLC, UAE.

· Decent Dia-Jewels Pvt. Ltd., India.

· Decents Spain S.L., Spain.

· Diaccents Exports (Shanghai) Ltd., China.

· Diaccents Exports, Hong Kong.

· Diaccents, Taiwan.

· Diamond Link, India.

· Nation Apex, China.

· RI-Decent Diam, South Africa.

BUSINESS REGISTRATION NUMBER

33730717

COMPANY FILE NUMBER

0834235

MANAGEMENT

Managing Director: Mr. Dilip Ramniklal Shah

CAPITAL

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

Issued Share Capital: HK$2.00

SHAREHOLDERS

(As per registry dated 21-02-2010)

Name		No. of shares
Dilip Ramniklal SHAH		1
Kaushal Dilip SHAH		1
		––
	Total:	2 =

DIRECTORS

(As per registry dated 21-02-2010)

Name (Nationality)	Address
Dilip Ramniklal SHAH	Flat B, 12/F., South Sea Mansion, 81 Chatham Road, Kowloon, Hong Kong.
Kaushal Dilip SHAH	Flat B, 12/F., South Sea Mansion, 81 Chatham Road, Kowloon, Hong Kong.

SECRETARY

(As per registry dated 21-02-2010)

Name	Address	Co. No.
Excellence Group Ltd.	Flat D, 2/F., Right Time Building, 21-27 Playing Field Road, Mongkok, Kowloon, Hong Kong.	0567136

HISTORY

The subject was incorporated on 21st February, 2003 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, etc.

Employees: 3.

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

Markets: Hong Kong, other Asian countries, Middle East, UK, USA, etc.

Terms/Sales: L/C or as per contracted.

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

FINANCIAL INFORMATION

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

Issued Share Capital: HK$2.00

Profit or Loss: Making a small profit every year.

Condition: Keeping in a satisfactory manner.

Facilities: Making 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: Normal.

GENERAL

Day Shine Ltd. is equally owned by Ms. Kaushal Dilip Shah and Mr. Dilip Ramniklal Shah. The subject has just issued 2 ordinary shares of HK$1.00 each while each of the shareholders holds a single share.

The subject is a diamond trader. It has had an affiliated company Diaccents Exports located at its operating office. The subject and Diaccents Exports are engaged in the same lines of business.

Established in 1981 in Hong Kong by Mr. Dilip Shah, Diaccents Exports has expanded today to seven renowned business associates, namely, Decent Dia‑Jewels Pvt. Ltd. [DDJPL], Decents Spain S.L. (Spain), Diaccents Exports (Shanghai) Ltd. (China), Nation Apex (China), Diaccents (Taiwan), RI‑Decent Diam (South Africa), and Decent Dia & Jew LLC (Dubai).

Initially started as a loose diamond exporter, Diaccents Exports has good reputation in exclusive jewellery designing, manufacturing, exporting and also catering to the international market in wholesaling as well as retailing. Its jewellery designs have found ready markets such as Asian countries, the Middle East, Hong Kong, the United Kingdom, and the United States. Besides, Diaccents Exports has set up three retail showrooms in Spain.

Diaccents Exports has had its own workshop. Raw materials used are diamonds, round, princess, emeralds and also some natural colour diamonds which are made into rings, pendants, necklaces, ear-rings, sets and brooches in gold and platinum. Diaccents Exports has 430 workers in its workshop. Currently, it is exporting 18Kt yellow and white gold diamond studded jewellery.

DDJPL was established in 1978 and has become an Export House recognised by the Government of India. It was formed by two partners Mr. Chetan Shah and Mrs. Hema Shah. DDJPL is engaged in diamonds manufacturing and exporting. Now, DDJPL has got sales offices and production facilities worldwide. DDJPL usually has got bulk orders through its market associates in Hong Kong, Barcelona, Spain, South Africa, Dubai and China. At present, DDJPL has over 340 managing personnel and 6,000 workers. Its manufacturing facilities provide worldwide customers with different shapes and sizes of polish diamonds.

Most of the subject’s products are also provided by DDJPL. The subject and its associates are owned by the Shah family.

As the history of the subject is over eight years in Hong Kong, on the whole, consider it good for normal business engagements.

COURT CASES: None per our records.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.12
UK Pound	1	Rs.73.43
Euro	1	Rs.62.32

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.