MIRA INFORM REPORT

Report Date :

30.03.2011

IDENTIFICATION DETAILS

Name :	CARBON CRAFT
Registered Office :	Room 1701, 17/F., Lee Wai Commercial Building, 1-3 Hart Avenue, Tsimshatsui, Kowloon
Country :	Hong Kong.
Date of Incorporation :	27th February, 2004.
Com. Reg. No.:	34311930-000-02
Legal Form :	Sole Proprietorship
Line of Business :	Importer, Exporter and Wholesaler of all kinds of diamonds and gemstones, 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 :	Usually Correct
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

Name and address

CARBON CRAFT

ADDRESS: Room 1701, 17/F., Lee Wai Commercial Building, 1-3 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

(Formerly located at:

Flat B, 13/F., Hody Commercial Building,

6 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.)

PHONE: 2723 1243

FAX: 2722 6684

MANAGEMENT

Manager: Mr. Vijaykumar Chandulal Sheth

SUMMARY

Establishment: 27th February, 2004.

Organization: Sole Proprietorship.

Capital: Not disclosed.

Business Category: Diamond and Gemstone Trader.

Employees: 3. (Including affiliates)

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

Banking Relation: Satisfactory.

ADDRESS

Head Office:-

Room 1701, 17/F., Lee Wai Commercial Building, 1-3 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

Affiliated Companies:- (Same address)

Apex Trading, Hong Kong

Mayborne International Ltd., Hong Kong.

Soham Diam, Hong Kong.

BUSINESS REGISTRATION NUMBER

34311930-000-02

MANAGEMENT

Manager: Mr. Vijaykumar Chandulal Sheth

SOLE PROPRIETOR

Name: Mr. Vijaykumar Chandulal SHETH

Residential Address: Flat B, 10/F., Ocean View Court, 43 Mody Road, Tsimshatsui, Kowloon, Hong Kong.

HISTORY

The subject was established on 27th February, 2004 as a sole proprietorship concern owned by Mr. Tansukh Shamjibhai Kasodariya under the Hong Kong Business Registration Regulations. Subsequently, Mr. Vijaykumar Chandulal Sheth joined in as a partner on 24th February, 2006 while Kasodariya retired on 15th June, 2006. Now, the subject is solely owned by Sheth.

Initially the subject was located at Flat B/4, 16/F., Prat Mansion, 28 Prat Aveue, Tsimshatsui, Kowloon, Hong Kong, moved to Room 701, 7/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong in February 2006; to Flat B, 10/F., Ocean View Court, 43 Mody Road, Tsimshatsui, Kowloon, Hong Kong in June 2006; to Room 1701, 17/F., Lee Wai Commercial Building, 1-3 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong in early September 2010; to Flat B, 13/F., Hody Commercial Building, 6 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong in late September 2010; and further moved back to Room 1701, 17/F., Lee Wai Commercial Building in December 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 diamonds and gemstones, etc.

Employees: 3. (Including affiliates)

Commodities Imported: India, Belgium, Thailand, etc.

Markets: Asia, China, Eastern and Western Europe, Middle East, North America, 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 an active condition.

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

Carbon Craft is a sole proprietorship owned by Mr. Vijaykumar Chandulal Sheth who is an Indian. Being an India passport holder, V. C. Sheth is the manager of the subject.

The subject moved to the present address in December 2010.

Business commenced in February 2004, the subject is a diamond importer, exporter and wholesaler. It is engaged in manufacturing loose diamonds like marquise, pears, tappers, buggets and rose cut diamonds range from 0.05 cts to 0.60 cts. The subject’s products are exported to Southeast Asia, Australasia, Japan, South Korea, India, the Middle East, North America, Taiwan, Western Europe, etc. India is one of its prime markets. However, its loose, cut and polished diamonds are chiefly imported from India, Belgium, South Africa and North America. The subject’s business is chiefly handled by V. C. Sheth himself. The subject is also a commission agent.

Besides the subject, the following firms are also located at the same operating address:-

Apex Trading

Mayborne International Ltd. [Mayborne]

Soham Diam

All the above-mentioned firms are registered in Hong Kong and acting as diamond traders.

The Managing Director of Mayborne is Mr. Vijay Sheth who is likely to be a family member of V. C. Sheth. Mayborne is exporting fine jewellery, abrasive materials, synthetic diamond powder to India. Vijay Sheth can be reached at his mobile phone 9078 0124.

As the history of the subject in Hong Kong is just over seven years, 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.44.67
UK Pound	1	Rs.71.63
Euro	1	Rs.63.09

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.