MIRA INFORM REPORT

Report Date :

19.09.2011

IDENTIFICATION DETAILS

Name :	TACHE ASIA LTD.

Registered Office :	Room 1701, 17/F., Queen’s Place, 74 Queen’s Road Central

Country :	Hong Kong

Date of Incorporation :	15.02.2002

Com. Reg. No.:	32388321

Legal Form :	Private Limited Company

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

RATING & COMMENTS

MIRA’s Rating :

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

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

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

Company name

TACHE ASIA LTD.

Company ADDRESS

Room 1701, 17/F., Queen’s Place, 74 Queen’s Road Central, Hong Kong.

PHONE: 2815 0668

FAX: 2815 1804

E-MAIL: hong-kong@tachediamonds.com

sales@tacheasia.biz.com.hk

MANAGEMENT

Managing Director: Mr. Lo Wing Hang, Benny

SUMMARY

Incorporated on: 15th February, 2002.

Organization: Private Limited Company.

Capital: Nominal: HK$7,810,000.00

Issued: HK$7,810,000.00

Business Category: Jewellery and Diamond Trader.

Employees: 5.

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

Banking Relation: Satisfactory.

Company ADDRESS

Registered Head Office:-

Room 1701, 17/F., Queen’s Place, 74 Queen’s Road Central, Hong Kong.

Holding Company:-

Tache Investments S.A., Luxembourg.

Associated Companies:-

· Coindre-Steiner SA, France.

· Fildiam BVBA, Belgium.

· Kimchi Diam Ltd., Israel.

· Miller Diamonds Pty. Ltd., Australia.

· Nikos Jewels, USA.

· Tache Company NV, Belgium.

· Tache Diamonds China Ltd., China.

· Tache Diamonds Italia S.r.l., Italy.

· Tache Diamonds USA LLC, USA.

· Tache France/Societe Eric, France.

· Tache Germany, Germany.

· Tache India Pvt. Ltd., India.

· Tache Investments S.A., Switzerland.

· Tache Japan KK, Japan.

· Tache Jewelry Pvt. Ltd., India.

· Tache USA Inc., USA.

· Vancut Diamond Works (Pty) Ltd., South Africa.

· Yakarim Diamonds DMCC, UAE.

etc.

BUSINESS REGISTRATION NUMBER

32388321

COMPANY FILE NUMBER

0786340

MANAGEMENT

Managing Director: Mr. Lo Wing Hang, Benny

Contact Person: Ms. Sibby Siu

CAPITAL

Nominal Share Capital: HK$7,810,000.00 (Divided into 7,810,000 shares of HK$1.00 each)

Issued Share Capital: HK$7,810,000.00

SHAREHOLDER

(As per registry dated 15-02-2011)

Name		No. of shares
Tache Investments S.A. 52 Rue Marechal Foch, L-1527 Luxembourg, Rcs Number B87621.		7,810,000 =======

Name

No. of shares

Tache Investments S.A.

52 Rue Marechal Foch, L-1527 Luxembourg, Rcs Number B87621.

7,810,000

=======

DIRECTORS

(As per registry dated 15-02-2011)

Name (Nationality)	Address
LO Wing Hang	Flat A, 14/F., Block 2, Lyttelton Garden, 29 Lytteltoy Road, Mid-Levels, Hong Kong.
Robert TACHE	34 Charlottalei 2930, Brarchaat, Belgium.
Jacques TACHE	Peter Benoitstraat 34, 2018 Antwerpen, Belgium.

SECRETARY

LO Wing Hang (As per registry dated 15-02-2011)

HISTORY

The subject was incorporated on 15th February, 2002 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, etc.

Employees: 5.

Commodities Imported: India, Belgium, other Asian countries, etc.

Markets: China, Hong Kong, other Asian countries, Middle East, Western Europe, North America,

Central & South America, etc.

Terms/Sales: L/C or as per contracted.

Terms/Buying: As per contracted.

FINANCIAL INFORMATION

Nominal Share Capital: HK$7,810,000.00 (Divided into 7,810,000 shares of HK$1.00 each)

Issued Share Capital: HK$7,810,000.00

Profit or Loss: Making a small profit every year.

Condition: Keeping in an active manner.

Facilities: Making active use of general banking facilities.

Payment: Met trade commitments as contracted.

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

Standing: Normal.

GENERAL

Tache Asia Ltd. is a wholly-owned subsidiary of Tache Investments S.A. which is a Luxembourg-based firm.

The subject is a diamond and jewellery trader. It is a member of the Tache Alliance [Tache] which is a group of diamond and jewellery companies, operating in twelve countries on five continents.

Tache is a diamond trading company sightholder. It is famous for its Russian cut rounds and princess diamonds. The founder of Tache is Mr. Jacques Tache while the CEO is Mr. Robert Tache.

Tache entered the diamond market in 1957. In the early 1980s, Tache found its niche as a major manufacturer of excellent Russian cut diamonds, and was one of the first foreign companies to collaborate with Russian state-owned factories, ensuring a constant supply of the cut diamonds in the world.

Tache became a DTC (Diamond Trading Company) sightholder over 30 years ago, and has benefited from a constant supply of rough diamonds.

Now, three generations later, Tache is a leading manufacturer and wholesaler of Russian cut stones. Using traditional and well established techniques, mastered in the best polishing factories of Russia, Tache has expended its factories in many countries of the world – from Russia to South Africa, Armenia and China.

Tache is able to manufacture cut rounds and princess cut diamonds of all sizes – from 0.01 carat to unique 10+ carat stones.

Tache has rapidly expanded globally, and established a strong network of offices and partners around the world, all working under the umbrella of the Tache Alliance. Members of the Tache Alliance integrate well-known Tache standards and principles of quality, service, and continuous diamond supply into the heart of the diamond industry worldwide. Tache is serving its clients from offices in Germany, France, Italy, the United States, India, Australia, China, Dubai, Switzerland, South Africa, Botswana and Belgium.

The subject is serving the customers in Hong Kong.

Tache Company NV, the centrepiece of the Tache Alliance and Vancut Diamond Works. Tache Company NV is headquartered in Antwerp, Belgium.

Now, Tache has about 2,500 employees, 10 offices, and eight factories. Its associated companies include Fildiam BVBA, Miller Diamonds Pty. Ltd., Tache USA Inc., Tache Diamonds Italia Srl, Tache France/Société Eric, Coindre-Steiner SA, Tache Japan KK, Tache Jewellery Pvt., Ltd., Tache India Pvt. Ltd., Nikos Jewels, etc.

Vancut Diamond Works (Pty) Ltd., which is headquartered in Antwerp, has a cutting and polishing factory based in Johannesburg, South Africa, and employs some 160 workers.

The business of the subject is handled by Mr. Lo Wing Hang.

The subject is fully supported by the Tache.

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.47.47
UK Pound	1	Rs.74.96
Euro	1	Rs.65.79

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.