MIRA INFORM REPORT

Report Date :

13.05.2011

IDENTIFICATION DETAILS

Name :	SHREYA JEWEL
Registered Office :	Flat A, 8/F., Kimbry Court, 58-60 Kimberley Road, Tsimshatsui, Kowloon
Country :	Hong Kong
Date of Incorporation :	01.04.2006
Com. Reg. No.:	36633732-000-04
Legal Form :	Partnership
Line of Business :	Importer, Exporter and Wholesaler of all kinds of precious stones, diamonds, etc.

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

Name and address

SHREYA JEWEL

Address:

Flat A, 8/F., Kimbry Court,

58-60 Kimberley Road,

Tsimshatsui, Kowloon,

Hong Kong.

(Formerly located at:

Flat J, 33/F., Block 2, Royal Peninsula,

8 Hung Lai Road, Hunghom Bay, Kowloon, Hong Kong.)

PHONE: Not available

FAX: Not available

MANAGEMENT

Manager: Mr. Sanket Prakash Shah

SUMMARY

Establishment: 1st April, 2006.

Organization: Partnership.

Capital: Not disclosed.

Business Category: Diamond Trader.

Employees: Nil.

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

Banking Relation: Fair.

ADDRESS

Head Office:-

Flat A, 8/F., Kimbry Court, 58-60 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong.

BUSINESS REGISTRATION NUMBER

36633732-000-04

MANAGEMENT

Manager: Mr. Sanket Prakash Shah

PARTNERS

Name: Mr. Sanket Prakash SHAH

Residential Address: Flat E, 38/F., Block 6, Jubilee Garden, 2-18 Lok King Street, Fo Tan, Shatin, New Territories, Hong Kong.

Name: Mr. Ankur Ramesh SHAH

Residential Address: 69 Walkeshwar Road, 81 Kamal Building, Malabar Hill DS, Mumbai-6, India.

HISTORY

The subject was established on 1st April, 2006 as a sole proprietorship concern owned by Mr. Sanket Prakash Shah under the Hong Kong Business Registration Regulations. It became a partnership as Mr. Ankur Ramesh Shah joined in as a partner on 18th October, 2007.

At the very beginning, the subject was located at Flat E, 38/F., Block 6, Jubilee Garden, 2-18 Lok King Street, Fo Tan, Shatin, New Territories, Hong Kong, moved to Flat E, 2/F. & 3/F., Block C2A, 3 Town Centre Crescent, Hong Lok Yuen, Tai Po, New Territories, Hong Kong in March 2007; to Flat D2, 18/F., Jubilee Garden, Jubliee Court, 2-18 Lok King Street, Fo Tan, Shatin, New Territories, Hong Kong in November 2008; to Flat J, 33/F., Block 2, Royal Peninsula, 8 Hung Lai Road, Hunghom Bay, Kowloon, Hong Kong in August 2009; and further moved to the present address in October 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 precious stones, diamonds, etc.

Employees: Nil.

Commodities Imported: India, Europe, etc.

Markets: Hong Kong, other Asian countries, 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: Made a very small profit in 2010.

Condition: Keeping in a normal manner.

Facilities: Making fairly active use of general banking facilities.

Payment: Met as required.

Commercial Morality: Satisfactory.

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

Standing: Small.

GENERAL

Shreya Jewel is a partnership jointly owned by Mr. Sanket Prakash Shah and Mr. Ankur Ramesh Shah, both of whom are Indian. Being India passport holders, the Shahs do not have the right to reside in Hong Kong permanently.

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

The subject does not have its own operating office. Its registered address is in a private building located at Flat A, 8/F., Kimbry Court, 58-60 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong. The subject moved to this new address in October 2010. This address is supposed to be the residence of the partners when they are in Hong Kong. The subject’s new registered address is also the new residential address of the partners. It is likely that the subject has not updated its information filed with the Inland Revenue Department Business Registration Office of the Hong Kong SAR Government.

The subject is a diamond and jewellery trader. Commodities are chiefly imported from India and other European countries. Some of the raw diamonds are polished, cut or processed in Hong Kong or China. Finished products are marketed in Hong Kong, exported or re-exported to the other Asian countries, the Middle East, etc. Business has been normal.

It is likely that the subject has had a diamond processing factory in China. However, details are unknown.

The subject is just a two-man-company. Made a small profit in 2010.

The subject’s history in Hong Kong is just over five years and a month.

Since the registered office of the subject is in a residential building, consider it good for normal business engagements on L/C basis.

COURT CASES: None per our.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.79
UK Pound	1	Rs.73.19
Euro	1	Rs.63.59

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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