MIRA INFORM REPORT

Report Date :

13.05.2011

IDENTIFICATION DETAILS

Name :	VALENTINE JEWELLERY

Formerly Known As :	Valentine Jewelry

Registered Office :	Unit B79, 2/F., Hunghom Square, 37-39 Ma Tau Wai Road, Hunghom, Kowloon

Country :	Hong Kong

Date of Incorporation :	25.03.2004

Com. Reg. No.:	34400137-000-03

Legal Form :	Partnership

Line of Business :	Importer, Exporter, Retailer and Wholesaler of all kinds of diamonds and jewellery products, etc

RATING & COMMENTS

MIRA’s Rating :

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

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

Company Name

VALENTINE JEWELLERY

Company ADDRESS

Unit B79, 2/F., Hunghom Square, 37-39 Ma Tau Wai Road, Hunghom, Kowloon, Hong Kong.

PHONE: 2368 4426

FAX: 2695 0342

MANAGEMENT

Manager: Mr. Premchand Ratanlal Tater

SUMMARY

Establishment: ` 25th March, 2004.

Organization: Partnership.

Capital: Not disclosed.

Business Category: Diamond and Jewellery Trader.

Employees: 5. (Including affiliate)

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

Banking Relation: Satisfactory.

Company ADDRESS

Head Office & Shop:-

Unit B79, 2/F., Hunghom Square, 37-39 Ma Tau Wai Road, Hunghom, Kowloon, Hong Kong.

Affiliated Company:-

I D C International Ltd., Hong Kong.

BUSINESS REGISTRATION NUMBER

34400137-000-03

MANAGEMENT

Manager: Mr. Premchand Ratanlal Tater

PARTNERS

Name: Mr. Premchand Ratanlal TATER

Residential Address: Flat A, 34/F., Tower 7, Bauhinia Garden, 11 Tong Chun Street, Tseung Kwan O,

Kowloon, Hong Kong.

Name: Mr. Deepika TATER

Residential Address: Flat C, 5/F., Tower 3, Majestic Park, 11 Farm Road, Kowloon, Hong Kong.

HISTORY

The subject was established on 25th March, 2004 as a sole proprietorship concern owned by Mr. Premchand Ratanlal Tater under the Hong Kong Business Registration Regulations. It became a partnership as Mr. Deepika Tater joined in as a new partner on 1st August, 2010.

Originally the subject was registered under the name of Juhi Gems, name changed to Valentine Jewellery on 29th May, 2006; changed to Valentine Jewelry on 23rd May, 2007 and changed back to Valentine Jewellery on 12th August, 2008.

At the very beginning, the subject was located at Room 1202, 12/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong, moved to Room 705-706, 7/F. of the same building in May 2005; moved to Room 706A, 7/F., Chuang’s Hunghom Plaza, 83 Wuhu Street, Hunghom, Kowloon, Hong Kong in May 2007, and further to the present address in April 2009.

Apart from these, neither material change nor amendment has been ever traced and noted.

OPERATIONS

Activities: Importer, Exporter, Retailer and Wholesaler.

Lines: All kinds of diamonds and jewellery products, etc.

Employees: 5. (Including affiliate)

Commodities Imported: India, other Asian countries, etc.

Markets: Hong Kong, Japan, Southeast Asia, etc.

Terms/Sales: COD or as per contracted.

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 a satisfactory manner.

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

Valentine Jewellery is a partnership jointly owned by Mr. Premchand Ratanlal Tater and Mr. Deepika Tater. Both of the two Taters are Hong Kong ID Card holders and have got the right to reside in Hong Kong permanently.

The subject is engaged in retailing and wholesaling all kinds of jewellery and diamonds. Its registered address is also a retailing outlet.

The subject shares the same retailing outlet with I D C International Ltd. [IDC] which is a Hong Kong registered firm.

The subject imports polished, cut and loose diamonds from India. After processing into jewellery products in Hong Kong or China, finished products are wholesaled or retailed in Hong Kong or re-exported to Japan, other Asian countries. Business is fairly active.

Having issued 6,000 ordinary shares of HK$1.00 each, I D C International Ltd. [IDC] is wholly-owned by Mr. Alok Rajendra Prasad Jain who is an Indian. The administration office of IDC is located at Room 375, 3/F., Conic Investment Building, 13 Hok Yuen Street, Hunghom, Kowloon, Hong Kong.

The subject and IDC are retailing bracelets, brooches, earrings, necklaces, rings, pendants, etc.

The subject’s business is chiefly handled by the two partners.

As the history of the subject in Hong Kong is over six years and a month, 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.44.79
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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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.