MIRA INFORM REPORT

Report Date :

26.05.2011

IDENTIFICATION DETAILS

Name :	REVA GEMS & JEWELS LTD.
Registered Office :	Room 615, 6/F., Beverley Commercial Centre, 87-105 Chatham Road South, Tsimshatsui, Kowloon
Country :	Hong Kong
Date of Incorporation :	05.06.2009
Com. Reg. No.:	50758366-000-06
Legal Form :	Private Limited Company.
Line of Business :	Importer, Exporter and Wholesaler of all kinds of diamonds and jewellery products

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 – March 31^st, 2011

Country Name	Previous Rating (31.12.2010)	Current Rating (31.03.2011)
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

REVA GEMS & JEWELS LTD.

Company ADDRESS

Room 615, 6/F., Beverley Commercial Centre, 87-105 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.

PHONE: 2366 4119

FAX: 2139 8234

MANAGEMENT

Managing Director: Mr. Ankit Dusad

SUMMARY

Incorporated on: 5th June, 2009.

Organization: Private Limited Company.

Capital: Nominal: HK$4,222,000.00

Issued: HK$4,222,000.00

Business Category: Gem and Jewel Trader.

Employees: 3.

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

Banking Relation: Satisfactory.

Company ADDRESS

Registered Head Office:-

Room 615, 6/F., Beverley Commercial Centre, 87-105 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.

Trading as:-

Diamond Collection, Hong Kong. (Same address)

BUSINESS REGISTRATION NUMBER

50758366-000-06

COMPANY FILE NUMBER

1343324

MANAGEMENT

Managing Director: Mr. Ankit Dusad

CAPITAL

Nominal Share Capital: HK$4,222,000.00 (Divided into 4,222,000 shares of HK$1.00 each)

Issued Share Capital: HK$4,222,000.00

SHAREHOLDER

(As per registry dated 05-06-2010)

Name	No. of shares
Ankit DUSAD	4,222,000 =======

DIRECTOR

(As per registry dated 05-06-2010)

Name (Nationality)	Address
Ankit DUSAD	Room 616, 6/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong.

SECRETARY

(As per registry dated 05-06-2010)

Name	Address
Datt Consultants	Flat A1, 7/F., Far East Mansion, 5-6 Middle Road, Tsimshatsui, Kowloon, Hong Kong.

HISTORY

The subject was incorporated on 5th June, 2009 as a private limited liability company under the Hong Kong Companies Ordinance.

Initially the subject was located at 7/F., Man On Commercial Building, 12‑13 Jubilee Street, Central, Hong Kong, moved to the present address with effect from 26th June, 2009.

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 jewellery products.

Employees: 3.

Commodities Imported: India, other Asian countries, etc.

Markets: Hong Kong, Japan, other Asian countries, etc.

Annual Turnover: Too early to obtain figure.

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

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

FINANCIAL INFORMATION

Nominal Share Capital: HK$4,222,000.00 (Divided into 4,222,000 shares of HK$1.00 each)

Issued Share Capital: HK$4,222,000.00

Alternation of Capital:-

05-06-2009	paid up	HK$ 10,000.00
02-11-2009	paid up	HK$ 4,212,000.00
		–––––––––––––––
Total:	paid up	HK$ 4,222,000.00 ==============

Increase of Nominal Capital:-

From

HK$10,000.00

to

HK$4,222,000.00

on

02-11-2009

Profit or Loss: Kept a balance account in 2010.

Condition: Business is under development.

Facilities: Making fairly active use of general banking facilities.

Payment: Met trade commitments as contracted.

Commercial Morality: Satisfactory.

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

Standing: Small.

GENERAL

Having issued 4,222,000 ordinary shares of HK$1.00 each, Reva Gems & Jewels Ltd. is wholly-owned by Mr. Ankit Dusad who is an Indian. He is also the only director of the subject. Dusad is an India passport holder, but he also has had a Hong Kong ID Card and now has got the right to reside in Hong Kong permanently.

Formerly the subject had issued 10,000 ordinary shares of HK$1.00 each and increased to the present number in November 2009.

The subject’s business name is Diamond Collection which is also located at the operating address of the subject.

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. It is trading in the following commodities:-

· Jewellery — Diamond

· Jewellery — Gemset

· Gemstone and Jade

· Diamond

Commodities are chiefly imported from India. After processing in Hong Kong or China, finished products are marketed in Hong Kong, exported to Japan, Taiwan and the other Asian countries, Europe, North America, etc. Business is improving.

The subject has got an affiliated diamond firm in Jaipur, India which is the supplier of the subject.

Diamond Collection is the operating company of the subject. Dusad is the manager of Diamond Collection.

The history of the subject in Hong Kong is just over a year and ten months in Hong Kong.

On the whole, since the history of the subject is short, consider it good for normal business engagements on secured basis for the time being.

COURT CASES: None per our.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.38
UK Pound	1	Rs.73.31
Euro	1	Rs.63.70

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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