MIRA INFORM REPORT

Report Date :

28.03.2011

IDENTIFICATION DETAILS

Name :	FAMASIA LTD.
Registered Office :	Room 1513, 15/F., Rise Commercial Building, 5-11 Granville Circuit, Tsimshatsui, Kowloon
Country :	Hong Kong
Date of Incorporation :	27.11.2007
Com. Reg. No.:	38676954
Legal Form :	Private Limited Company
Line of Business :	Importer, Exporter and Wholesaler of all kinds of diamonds and gemstones.

RATING & COMMENTS

MIRA’s Rating :

B

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	a2	a2

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

Company name

FAMASIA LTD.

Company ADDRESS

Room 1513, 15/F., Rise Commercial Building, 5-11 Granville Circuit, Tsimshatsui, Kowloon, Hong Kong.

PHONE: 2486 1000

FAX: 2486 1003

MANAGEMENT

Managing Director: Mr. Paresh Jerambhai Bodra (Mobile: 6500 0533)

SUMMARY

Incorporated on: 27th November, 2007.

Organization: Private Limited Company.

Capital: Nominal: HK$1,000,000.00

Issued: HK$1,000,000.00

Business Category: Diamond Trader.

Employees: 2.

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

Banking Relation: Satisfactory.

Company ADDRESS

Registered Head Office:-

Room 1513, 15/F., Rise Commercial Building, 5-11 Granville Circuit, Tsimshatsui, Kowloon, Hong Kong.

BUSINESS REGISTRATION NUMBER

38676954

COMPANY FILE NUMBER

1189202

MANAGEMENT

Managing Director: Mr. Paresh Jerambhai Bodra

CAPITAL

Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)

Issued Share Capital: HK$1,000,000.00

SHAREHOLDER

(As per registry dated 27-11-2010)

Name	No. of shares
Paresh Jerambhai BODRA	1,000,000 =======

DIRECTORS

(As per registry dated 27-11-2010)

Name (Nationality)	Address
Paresh Jerambhai BODRA	Flat D, 15/F., Tin Man Court, 2A Kimberley Street, Tsimshatsui, Kowloon, Hong Kong.
Ravikumar Bhagvanbhai BODARA	Flat D, 15/F., Tin Man Court, 2A Kimberley Street, Tsimshatsui, Kowloon, Hong Kong.

SECRETARY

(As per registry dated 27-11-2010)

Name	Address
Bayani Divino Bautista PONCE	13/F., 5 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.

HISTORY

The subject was incorporated on 27th November, 2007 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 gemstones.

Employees: 2.

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

Markets: Southeast Asia, Europe, Middle East, etc.

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

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

FINANCIAL INFORMATION

Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)

Issued Share Capital: HK$1,000,000.00

Mortgage or Charge:-

Date of Assignment of Receivables – General with Notice of Assignment: 07-05-2010

Amount: To secure all monies in respect of banking facilities

Property: In consideration of the Banking Facilities, the Customer, as beneficial owner and by way of

security for the payment of the Secured Monies, hereby assigns, and agrees to assign, to the Bank the Receivables until all the Secured Monies have been paid or discharged

Mortgagee: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Profit or Loss: Making a small profit in 2009 and 2010.

Condition: Business is normal.

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 1 million ordinary shares of HK$1.00 each, Famasia Ltd. is wholly owned by Mr. Paresh Jerambhai Bodra who is an Indian. He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently. Directors of the subject are Mr. Paresh Jerambhai Bodra and Mr. Ravikumar Bhagvanbhai Bodara. Bodra and Bodara are Hong Kong ID Card holders and have got the right to reside in Hong Kong permanently.

The subject is trading in all kinds of loose diamonds, fancy cut diamonds. The followings are the main products carried: marquise, pears, tappers, buggets and rose cut, round brilliant, single cut and fancy cut, etc. Most of the commodities are imported from India, other Asian countries, etc. All diamonds are marketed in Hong Kong, exported to China, Singapore, other Asian countries, Western Europe, etc. Business is normal.

The subject has got an associated company engaged in diamond cutting and processing in Gujarat, India.

In order to penetrate the international market further, the subject has taken part in fairs and exhibitions held in Hong Kong and other foreign large cities. For instance, it always take part in Hong Kong Jewellery & Gem Fair which is held in Hong Kong annually.

P. J. Bodra can be reached at his mobile phone number 6500 0533.

The history of the subject in Hong Kong is over three years and four months.

On the whole, consider it good for normal business engagements in small credit amounts.

COURT CASES: None per our.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.65
UK Pound	1	Rs.71.91
Euro	1	Rs.63.28

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%)

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