MIRA INFORM REPORT

Report Date :

25.03.2011

00323-2023030

IDENTIFICATION DETAILS

Name :	STAR GEM WORLD DIAMONDS BVBA
Registered Office :	2, Hoveniersstraat, Antwerpen 2018
Country :	Belgium
Financials (as on) :	31.12.2009
Date of Incorporation :	28.06.2001
Com. Reg. No.:	475138860
Legal Form :	Private Limited Liability Company
Line of Business :	Holding Companies

RATING & COMMENTS

MIRA’s Rating :

Ca

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Poor
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 – December 31, 2010

Country Name	Previous Rating (30.09.2010)	Current Rating (31.12.2010)
Belgium	A1	A1

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

Company Summary
company details
Company Number	475138860
Name	STAR GEM WORLD DIAMONDS BVBA
Address	2, HOVENIERSSTRAAT, ANTWERPEN
Post Code	2018
Telephone Number	032335575
Fax Number	--
Establishment Date	28-06-2001
Company Status	ACTIVE
Company Type	Private limited liability company
Number of Employees	0
Activity Description	Activities of holding companies
Activity Code	64200
Liable For Vat	yes
Currency	Euro (€)
Latest Branch Details
Street	HOVENIERSSTRAAT
House Number	30
City	ANTWERPEN
Postal Code	2018
Trade Registered Number	348304
Trade Registered Entry Date	01-03-2002
Contractor Details
Registration Number	--
Contractor Description	--
Striking Off Date	--
Latest Event
Serial Number	161927
Event Description	Change of name
Rating and Limit
Industry Comparison
Industry Average Credit Rating	54.85
Industry Average Credit Limit (€)	133,859
Payment Expectations
Payment Expectations
Payment Expectation Days
Day Sales Outstanding
Industry Comparison
Activity Code	6420
Activity Description	Activities of holding companies
Industry Average Day Sales Outstanding	118.44
Industry Average Payment Expectation Days	68.83
Industry Quartile Analysis
Payment Expectations - Lower	30.46
Payment Expectations - Median	68.75
Payment Expectations - Upper	147.22
Day Sales Outstanding - Lower	7.99
Day Sales Outstanding - Median	28.08
Day Sales Outstanding - Upper	76.81
Company Shareholder Holding

Company Accounts
Period
Accounts End Date	31-12-2009	31-12-2008	31-12-2007
Currency	EUR	EUR	EUR
Weeks	52	52	52
Profit & Loss
Turnover	-	-	-
Total Operating Expenses	-	-	-
Operating Result	-761	-	-4,170
Total Financial Income	-	-	-
Total Financial Expenses	-	-	-
Results on Ordinary Operations Before Tax	-761	-	-4,170
Taxation	-	-	-
Results on Ordinary Operations After Tax	-761	-	-4,170
Extraordinary Items	0	0	0
Net Result	-761	-	-4,170
Other Information
Dividends	-	-	-
Director Remuneration	-	-	-
Employee Costs	0	0	0
- Wages & Salaries	-	-	-
- Employee Pension Costs	-	-	-
- Social Security Contributions	-	-	-
- Other Employee Costs	-	-	-
Amortization & Depreciation	-	-	-
Balance Sheet
Intangible Fixed Assets	0	0	0
Tangible Fixed Assets	0	0	0
- Land And Buildings	0	0	0
- Plant And Machinery	0	0	0
- Other Tangible Assets	0	0	0
Financial Fixed Assets	0	0	0
Total Fixed Assets	0	0	0
Inventories	0	0	0
- Raw Materials & Consumables	0	0	0
- Work in Progress	0	0	0
- Finished Goods	0	0	0
- Other Stocks	0	0	0
Trade Debtors	0	0	0
Cash	0	0	0
- Miscellaneous Current Assets	0	0	0
Total Current Assets	0	0	0
Current Liabilities
- Trade Creditors	0	0	0
- Short Term Group Loans	0	0	0
- Other Short Term Loans	0	0	0
- Miscellaneous Current Liabilities	2,767	2,006	2,006
Total Current Liabilities	2,767	2,006	2,006
Long Term Debts
- Long Term Group Loans	0	0	0
- Other Long Term Loans	0	0	0
- Other Long Term Liabilities	0	0	0
Total Long Term Debts	0	0	0
Shareholders Equity
- Issued Share Capital	6,200	6,200	6,200
- Share Premium Account	0	0	0
- Reserves	-8,967	-8,206	-8,206
- Revaluation Reserve	0	0	0
Total Shareholders Equity	-2,767	-2,006	-2,006
Working Capital	-2,767	-2,006	-2,006
Net Worth	-2,767	-2,006	-2,006
Ratio Analysis
Trading Performance
Results on Ordinary Operations Before Taxation Margin	-	-	-
Return On Capital Employed	27.50	-	207.88
Return On Total Assets Employed	-	-	-
Return On Net Assets Employed	27.50	-	207.88
Sales / Net Working Capital	-	-	-
Operating Efficiency
Stock Turnover Ratio	-	-	-
Debtor Days	-	-	-
Creditor Days	-	-	-
Short Term Stability
Current Ratio	0	0	0
Liquidity Ratio / Acid Ratio	0	0	0
Current Debt Ratio	-1	-1	-1
Long Term Stability
Gearing	0	0	0
Equity In Percentage	-	-	-
Total Debt Ratio	0	0	0

Company Court Data
Protested Bills
Drawee Name	--
Drawee Address	--
Bill Amount
Bill Currency	--
Maturity of Bill (month)
Name of Drawer	--
City of Drawer	--
NSSO Details
Name of Defendant	STAR GEM DIAMONDS + GTMR BVBA
Legal Form of Defendant	Private limited liability company
Date of Summons	2010-10-25
Labour Court	ANTWERPEN
Directors
Company Director
FullName	FRANCIS CHARLES WEITZ
BirthDate
Position Description	Manager
Address	23 TURKOOISLAAN SINT-GENESIUS-RODE
Country	--
PostalCode	1640
BirthDate

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.77
UK Pound	1	Rs.72.66
Euro	1	Rs.63.06

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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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.