MIRA INFORM REPORT

Report Date :

23.11.2011

IDENTIFICATION DETAILS

Name :	ELITE DIAM (HK) LTD
Registered Office :	Unit E, 9/F., Cameron Plaza, 23-25A Cameron Road, Tsimshatsui, Kowloon
Country :	Hong Kong
Date of Incorporation :	10.12.2005.
Com. Reg. No.:	36278516
Legal Form :	Private Limited Company
Line of Business :	Importer, Exporter and Wholesaler OF All kinds of diamonds and jewellery products, emerald, precious stones, 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

COMPANY NAME

ELITE DIAM (HK) LTD.

Company ADDRESS

Unit E, 9/F., Cameron Plaza, 23-25A Cameron Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE: 2739 9951

FAX: 2739 9950

MANAGEMENT

Managing Director: Mr. Nehalkumar Himatlal Parikh

SUMMARY

Incorporated on: 10th December, 2005.

Organization: Private Limited Company.

Capital: Nominal: HK$10,000.00

Issued: HK$10,000.00

Business Category: Diamond Trader.

Annual Turnover: HK$35~40 million.

Employees: 3.

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

Banking Relation: Satisfactory.

company ADDRESS

Registered Head Office:-

Unit E, 9/F., Cameron Plaza, 23-25A Cameron Road, Tsimshatsui, Kowloon, Hong Kong.

BUSINESS REGISTRATION NUMBER

36278516

COMPANY FILE NUMBER

1012951

MANAGEMENT

Managing Director: Mr. Nehalkumar Himatlal Parikh

CAPITAL

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

Issued Share Capital: HK$10,000.00

SHAREHOLDER

(As per registry dated 10-12-2009)

Name	No. of shares
Bakul Ramniklal PARIKH	10,000 =====

DIRECTORS

(As per registry dated 10-12-2009)

Name (Nationality)	Address
Nehalkumar Himatlal PARIKH	Flat 4D, Kimberley Mansion, 15 Austin Avenue, Tsimshatsui, Kowloon, Hong Kong.
Nimish MODY [Alternate to Nehalkumar Himatlal PARIKH]	173 Belgelie, 2018 Antwerpen, Belgium.

SECRETARY

(As per registry dated 10-12-2009)

Name	Address
Bayani Divino Bautista PONCE	13/F., 5 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.

HISTORY

The subject was incorporated on 10th December, 2005 as a private limited liability company under the Hong Kong Companies Ordinance.

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, emerald, precious stones, etc.

Employees: 3.

Commodities Imported: India, Belgium, other European countries, Russia, etc.

Markets: China, other Asian countries, Europe, etc.

Annual Turnover: HK$35~40 million.

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

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

FINANCIAL INFORMATION

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

Issued Share Capital: HK$10,000.00

Profit or Loss: Making a small profit every year.

Condition: Keeping in a satisfactory manner.

Facilities: Making fairly 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: Normal.

GENERAL

Having issued 10,000 ordinary shares of HK$1.00 each, Elite Diam (HK) Ltd. is wholly-owned by Bakul Ramniklal Parikh who is residing in Singapore.

The Managing Director of the subject Nehalkumar Himatlal Parikh is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently. N. H. Parikh and B. R. Parikh belongs to the same family. The director alternate to N. H. Parikh is Mr. Nimish Mody who is a Belgium passport holder. Currently, he is residing in Antwerpen, Belgium.

The subject is a white, cut and polished diamond importer, exporter and wholesaler. It is the supplier, importer and exporter of versatile range of diamonds in a wide variety like rose cut diamonds, rose cut heart, rose cut round, rose cut pears, rose cut oval, rose cut marquise, fancy cut and fancy colour diamonds, briollets beads, old mine cut diamonds round brilliant cut diamonds, marquise, pears ,oval, heart, emeralad, etc. Most of the commodities are imported from India, Russia, Belgium, Israel and other European countries. Prime markets are Hong Kong, Japan, Singapore, the other Asian countries, the Middle East, etc. Business is rather active.

The subject has got an affiliated firm in Antwerp, Belgium.

In order to penetrate the international market further, the subject has taken part in fairs and exhibitions held in Hong Kong and other foreign large cities. It takes part in Hong Kong International Jewellery Show every year.

The subject’s business is chiefly handled by N. H. Parikh. Annual sales turnover ranges from HK$35 to 40 million. Making a small profit every year.

The history of the subject in Hong Kong is over four years and three months.

On the whole, consider it good for normal business engagements.

COURT CASES: None per our.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.52.70
UK Pound	1	Rs.82.44
Euro	1	Rs.71.08

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
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

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.