MIRA INFORM REPORT

Report Date :

21.09.2011

IDENTIFICATION DETAILS

Name :	HONG KONG DIAMOND LTD.
Registered Office :	Room 3, Flat F2, 9/F., Phase 2, Hang Fung Industrial Building, 2G Hok Yuen Street, Hunghom, Kowloon
Country :	Hong Kong
Date of Incorporation :	02.07.2009
Com. Reg. No.:	50850970
Legal Form :	Private Limited Company
Line of Business :	Importer, Exporter and Wholesaler of all kinds of diamonds and gemstones, 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 :	Moderate
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	a2	a2

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

Bottom of Form

Company name

HONG KONG DIAMOND LTD.

Company ADDRESS

Room 3, Flat F2, 9/F., Phase 2, Hang Fung Industrial Building, 2G Hok Yuen Street, Hunghom, Kowloon, Hong Kong.

PHONE: 2362 4222

FAX: 2362 4777

MANAGEMENT

Managing Director: Mr. Kuntal Deepak Shah

SUMMARY

Incorporated on: 2nd July, 2009.

Organization: Private Limited Company.

Capital: Nominal: HK$10,000.00

Issued: HK$1.00

Business Category: Diamond Trader.

Employees: Nil.

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

Banking Relation: Satisfactory.

Company ADDRESS

Registered Head Office:-

Room 3, Flat F2, 9/F., Phase 2, Hang Fung Industrial Building, 2G Hok Yuen Street, Hunghom, Kowloon, Hong Kong.

BUSINESS REGISTRATION NUMBER

50850970

COMPANY FILE NUMBER

1349898

MANAGEMENT

Managing Director: Mr. Kuntal Deepak Shah

CAPITAL

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

Issued Share Capital: HK$1.00

SHAREHOLDER

(As per registry dated 02-07-2011)

Name	No. of share
Kuntal Deepak SHAH	1 =

DIRECTOR

(As per registry dated 02-07-2011)

Name (Nationality)	Address
Kuntal Deepak SHAH	Room 1102, 11/F., Oriental Centre, 67-71 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.

SECRETARY

(As per registry dated 02-07-2011)

Name	Address	Co. No.
Exchequer Ltd.	Room 1102, 11/F., Oriental Centre, 67-71 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong.	0803651

HISTORY

The subject was incorporated on 2nd July, 2009 as a private limited liability company under the Hong Kong Companies Ordinance.

Formerly the subject was located at Room 1102, 11/F., Oriental Centre, 67‑71 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong where is the operating address of Longmart Consultants Ltd., moved to the present address in August 2011.

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 gemstones, etc.

Employees: Nil.

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

Markets: Hong Kong, Japan, other Asian countries,

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$1.00

Profit or Loss: Too early to offer an opinion.

Condition: Business is improving.

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

Hong Kong Diamond Ltd. was incorporated on 2nd July, 2009 as a diamond trading company.

The subject has just issued 1 ordinary share of HK$1.00 which is owned by Mr. Kuntal Deepak Shah who is an Indian. Shah is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently. He is also the only director of the subject.

Formerly the subject’s registered office was in a consultant firm located at Room 1102, 11/F., Oriental Centre, 67-71 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong known as Longmart Consultants Ltd. [Longmart] which handles its correspondences and documents. An affiliate of Longmart known as Exchequer Ltd. is the corporate secretary of the subject. Exchequer Ltd. is also located at the above-mentioned address.

Now the subject’s registered and operating office is located at Room 3, Flat F2, 9/F., Phase 2, Hang Fung Industrial Building, 2G Hok Yuen Street, Hunghom, Kowloon, Hong Kong. This room belongs to a business centre which has divided “Flat F2” into eight rooms, from 1 to 8, while the subject occupies Room 3.

Formerly Longmart was the only shareholder and director of the subject. In March 2010, Longmart transferred its share to Shah, and since then, Shah has become the director of the subject.

The subject is a diamond trader. It is a diamond importer, exporter and wholesaler. It is engaged in manufacturing loose diamonds like marquise, pears, tappers, buggets and rose cut diamonds. Most of the commodities, chiefly loose diamonds, are imported from India and European countries. Prime markets are Hong Kong, Japan, other Asian countries. Business is improving.

The subject’s business is chiefly operated solely by Shah himself. History in Hong Kong is just over two years and two months.

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.48.22
UK Pound	1	Rs.75.63
Euro	1	Rs.65.65

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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