MIRA INFORM REPORT

Report Date :

09.03.2011

IDENTIFICATION DETAILS

Name :	SPARKLE GEMS

Registered Office :	c/o Quentin Wong & Co., Certified Public Accountants, Room 909, 9/F., Wayson Commercial Building, 28 Connaught Road West

Country :	Hong Kong

Date of Incorporation :	26.06.2008

Com. Reg. No.:	39498763-000-06

Legal Form :	Sole Proprietor:

Line of Business :	Importer, Exporter and Wholesaler is a loose diamond

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	No Operating Office in Hong Kong

Payment Behaviour :	-----

Litigation :	-----

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

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

Company name

SPARKLE GEMS

Company ADDRESS

Registered Office:-

c/o Quentin Wong & Co., Certified Public Accountants

Room 909, 9/F., Wayson Commercial Building, 28 Connaught Road West, Hong Kong.

BUSINESS REGISTRATION NUMBER

39498763-000-06

ESTABLISHMENT

26th June, 2008.

SOLE PROPRIETOR

Name: Mr. Dhaval Nilesh DOSHI

Residential Address: Flat No. 11, Plot No. 300, Hari Darshar, Jawahar Nagar, Road No. 16, Goregaon (W),

Mumbai-400062 M.S., India.

GENERAL

Sparkle Gems is a sole proprietorship set up on 26th June, 2008 and owned by Mr. Dhaval Nilesh Doshi under the Hong Kong Business Registration Regulations. Doshi is an India passport holder and does not have the right to reside in Hong Kong permanently.

The subject does not have its own operating office. Its registered office is in an accountant firm located at “Room 909, 9/F., Wayson Commercial Building, 28 Connaught Road West, Hong Kong” known as “Quentin Wong & Co., Certified Public Accountants” which is handling its correspondences and documents.

The subject has no employees in Hong Kong.

The subject is a loose diamond importer, exporter and wholesaler. The headquarters of the subject are in India. Sparkle Gems in India is a manufacturer and exporter of semi-precious stones. India Sparkle Gems has got an affiliated company Anuraj Enterprises which is also a gem and diamond trader. The subject’s commodities are chiefly supplied by India Sparkle Gems which is in Mumbai, India.

The subject trades in the following gem stones: amethyst, rubylite, green amethyst, blue topaz, lemon topaz, citrine, smokey topaz, kunzite, peridot, morganite, pink tourmalines, amethyst, pink topaz, emerald, garnet, lapis‑lazuli, ruby, sapphire, rose quartz, etc.

The subject’s business is not active in Hong Kong. The history of the subject in Hong Kong is just over two years and eight months.

On the whole, since the subject does not have its own operating office and has no employees in Hong Kong, 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.45.03
UK Pound	1	Rs.72.98
Euro	1	Rs.62.94

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