MIRA INFORM REPORT

Report Date :

02.05.2011

IDENTIFICATION DETAILS

Name :	TECHNIC TRADE

Registered Office :	Room 728, 7/F., Beverley Commercial Centre, 87-105 Chatham Road South, Tsimshatsui, Kowloon

Country :	Hong Kong

Date of Incorporation :	10.02.2009

Com. Reg. No.:	50256550-000-02

Legal Form :	Subject was a Sole Proprietorship Concern

Line of Business :	subject was a diamond Importer, Exporter and Wholesaler

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 :	Ceased Business
Payment Behaviour :	Unknown
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 – June 30, 2010

Country Name

Previous Rating

(01.04.2010)

Current Rating

(30.06.2010)

Hong Kong

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

Company name

TECHNIC TRADE

company ADDRESS

Registered Office:-

Room 728, 7/F., Beverley Commercial Centre, 87-105 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.

Affiliated Companies:-

Phoenix Impex

Flat 1, 11/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong.

Stallion Ltd.

c/o KNG Consultants

Room 605, 6/F., Stag Building, 148-150 Queen’s Road Central, Hong Kong.

Vardhaman International

Flat 1, 11/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong.

BUSINESS REGISTRATION NUMBER

50256550-000-02

ESTABLISHMENT

10th February, 2009.

SOLE PROPRIETOR

[Resigned on 06-12-2010]

Name: Mr. Nishank Harshadbhai DAGLI

Residential Address: C-19 Alok Apt., P.T Collage Road, Near Sabar Flat, Paldi

Ahmedabad-7, India.

GENERAL

Pleased be advised that Technic Trade has ceased business since 6th December, 2010.

The subject was a sole proprietorship set up on 10th February, 2009 and owned by Mr. Nishank Harshadbhai Dagli under the Hong Kong Business Registration Regulations. Dagli is an Indian holding an India passport and does not have the right to reside in Hong Kong permanently.

Before cessation, the subject was located at Room 728, 7/F., Beverley Commercial Centre, 87-105 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.

The subject’s telephone number and fax number were not registered with local telephone company nor listed on telephone directories.

The subject was a diamond importer, exporter and wholesaler.

Business commenced in February 2009, the subject traded in loose diamonds, precious stones, ruby jade, gem sets, semi-precious stones, blue or coloured sapphire, etc. Most of its commodities were imported from India, Belgium and other European countries, etc. Main markets were Hong Kong, Japan, and the other Asian countries.

The subject suffered from a loss in 2009.

Besides the subject, Dagli is operating three more diamond trading firms which have been registered in Hong Kong. The three daimond trading firms are Vardhaman International, Stallion Ltd. and Phoenix Impex. The first and third are located at Flat 1, 11/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong while the second is located at the operating office of a consultancy firm KNG Consultants. The businesses of these three firms are handled by Dagli himself. These firms and the subject are engaged in the same lines of business.

On 6th December, 2010, the subject ceased business formally and Dagli retired from the subject on the same date.

On the whole, since the subject has ceased business, consider it not suitable for any business engagements.

COURT CASES: None per our.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.38
UK Pound	1	Rs.73.88
Euro	1	Rs.65.83

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
s11-25	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%)

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