MIRA INFORM REPORT

Report Date :

24.03.2011

IDENTIFICATION DETAILS

Name :	NAYOSHA GEMS

Registered Office :	Room 1005, 10/F., Hai Phong Mansion, 101 Nathan Road, Tsimshatsui, Kowloon

Country :	Hong Kong

Date of Incorporation :	21.09.1988

Com. Reg. No.:	12153843-000-09

Legal Form :	Sole Proprietorship

Line of Business :	Importer, Exporter and Wholesaler of all kinds of gemstones, diamonds, etc.

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Small Company

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

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

Company name

NAYOSHA GEMS

ADDRESS

Room 1005, 10/F., Hai Phong Mansion, 101 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE: 2723 0806

FAX: 2721 4686

E-MAIL: bapshongkong@hgcbroadband.com

MANAGEMENT

Manager: Mr. Bhavik Vasantkumar Jethva (Mobile: 9773 0725)

SUMMARY

Establishment: 21st September, 1988.

Organization: Sole Proprietorship.

Capital: Not disclosed.

Business Category: Gemstone Trader.

Employee: 1.

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

Banking Relation: Satisfactory.

ADDRESS

Head Office:-

Room 1005, 10/F., Hai Phong Mansion, 101 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.

P.O. Box 92075, Tsim Sha Tsui Post Office, Kowloon, Hong Kong.

BUSINESS REGISTRATION NUMBER

12153843-000-09

MANAGEMENT

Manager: Mr. Bhavik Vasantkumar Jethva

SOLE PROPRIETOR

Name: Bhavik Vasantkumar JETHVA

Residential Address: Flat 5, 10/F., Hai Phong Mansion, 101 Nathan Road, Tsimshatsui, Kowloon, Hong Kong.

HISTORY

The subject was established on 21st September, 1988 as a partnership concern jointly owned by Ramanlal Morarbhai Lad and Vasantkumar Chakubhai Jethava under the Hong Kong Business Registration Regulations.

The following table shows the changes of the partners:-

Name	Incoming Date	Outgoing Date
Ramanlal Morarbhai LAD	21-09-1988	01-04-1992
Vasantkumar Chakubhai JETHAVA	21-09-1988	21-03-2005
Yogeshkumar Chakubhai JETHAVA	01-04-1992	01-04-1996
Bhavik Vasantkumar JETHVA	29-06-2004 25-01-2005	19-08-2004 -

Initially the subject was located at Room 1704 (or Flat 4), 17/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong, moved to Room 1508, 15/F., Rise Commercial Building, 5-11 Granville Circuit, Tsimshatsui, Kowloon, Hong Kong in August 1994; to Flat J, 2/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong in July 1998; to Room 1005 (or Flat 5), 10/F., Hai Phong Mansion, 101 Nathan Road, Tsimshatsui, Kowloon, Hong Kong in May 2003; to Flat F, 5/F., Hankow Apartments, 43-49 Hankow Road, Tsimshatsui, Kowloon, Hong Kong in April 2007; to Room 1204, 12/F., Block 4, Hai Phong Mansion, 101 Nathan Road, Tsimshatsui, Kowloon, Hong Kong in April 2008; and further moved back to Room 1005, 10/F. of the same building in May 2010.

Apart from these, neither material change nor amendment has been ever traced and noted.

OPERATIONS

Activities: Importer, Exporter and Wholesaler.

Lines: All kinds of gemstones, diamonds, etc.

Employee: 1.

Commodities Imported: India, Thailand, Sri Lanka, Europe, etc.

Markets: Hong Kong, Japan, other Asian countries, Europe, Middle East, etc.

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

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

FINANCIAL INFORMATION

Capital: Not disclosed.

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: Small.

GENERAL

Nayosha Gems is a sole proprietorship owned by Mr. Bhavik Vasantkumar Jethva who is an Indian. He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently. Jethva joined in the subject on 29th June, 2004. He retired on 19th August, 2004 and joined in again on 25th January, 2005.

The registered address of the subject is located at Room 1005 (or Flat 5), 10/F., Hai Phong Mansion, 101 Nathan Road, Tsimshatsui, Kowloon, Hong Kong where is also the residence of Jethva.

Commenced business on 21st September, 1988, the subject is a diamond and gemstone trader. It is a diamond importer, exporter and wholesaler. The subject is trading in single-cut diamond, fullcut loose diamond, carat size diamonds, blue sapphire, etc. It is also carrying the following semi-precious stones: aquamarine, pink amethyst, rubylite, green amethyst, blue topaz, lemon topaz, citrine, smokey topaz, kunzite, peridot, morganite, pink tourmalines, amethyst, pink topaz, garnet, rose quartz, etc. Commodities are chiefly imported from India, Israel, Belgium Thailand, the United States, etc. Products are marketed in Hong Kong and exported to Japan, other Asian countries, Europe, Middle East, etc. Business is normal. Regular suppliers and foreign customers have been maintained.

As the history of the subject is over twenty-two years and six months in Hong Kong, on the whole, consider it good for normal business engagements.

COURT CASES: None per our.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.96
UK Pound	1	Rs.73.56
Euro	1	Rs.63.68

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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