MIRA INFORM REPORT

Report Date :

03.12.2012

IDENTIFICATION DETAILS

Name :	DIJHAL GEMAS - INDUSTRIA, COMERCIO E EXPORTAÇÃO LTDA - EPP

Registered Office :	Rua Alvaro Leitão,460 – Fontes 99300-000 - Soledade/Rs

Country :	Brazil

Date of Incorporation :	17.03.1992

Legal Form :	Limited Liability Company

LINE OF BUSINESS :	LAPPING OF GEMS

No. of Employees :	8

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate

Payment Behaviour :	Unknown

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 – June 30^th, 2012

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

Brazil

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

Brazil - ECONOMIC OVERVIEW

Characterized by large and well-developed agricultural, mining, manufacturing, and service sectors, Brazil's economy outweighs that of all other South American countries, and Brazil is expanding its presence in world markets. Since 2003, Brazil has steadily improved its macroeconomic stability, building up foreign reserves, and reducing its debt profile by shifting its debt burden toward real denominated and domestically held instruments. In 2008, Brazil became a net external creditor and two ratings agencies awarded investment grade status to its debt. After strong growth in 2007 and 2008, the onset of the global financial crisis hit Brazil in 2008. Brazil experienced two quarters of recession, as global demand for Brazil's commodity-based exports dwindled and external credit dried up. However, Brazil was one of the first emerging markets to begin a recovery. In 2010, consumer and investor confidence revived and GDP growth reached 7.5%, the highest growth rate in the past 25 years. Rising inflation led the authorities to take measures to cool the economy; these actions and the deteriorating international economic situation slowed growth to 2.7% for 2011 as a whole, though forecasts for 2012 growth are somewhat higher. Despite slower growth in 2011, Brazil overtook the United Kingdom as the world's seventh largest economy in terms of GDP. Urban unemployment is at the historic low of 4.7% (December 2011), and Brazil's traditionally high level of income equality has declined for each of the last 12 years. Brazil's high interest rates make it an attractive destination for foreign investors. Large capital inflows over the past several years have contributed to the appreciation of the currency, hurting the competitiveness of Brazilian manufacturing and leading the government to intervene in foreign exchanges markets and raise taxes on some foreign capital inflows. President Dilma ROUSSEFF has retained the previous administration's commitment to inflation targeting by the central bank, a floating exchange rate, and fiscal restraint.

Source : CIA

Company Name

DIJHAL GEMAS - INDUSTRIA, COMERCIO E EXPORTAÇÃO LTDA - EPP

ADDRESSES

MAIN ADDRESS:	RUA ALVARO LEITÃO,460 - FONTES
ZIP CODE/CITY:	99300-000 - SOLEDADE/RS

PHONE:	54 3381-2579
FAX:	54 3381-2579
E-MAIL:	dijhal@dijhalgemas.com.br
WEB SITE:	www.dijhalgemas.com.br

BRANCHES:

NOT AVAILABLE

LEGAL DATA

MAIN ACTIVITIES:

LAPPING OF GEMS.

LEGAL FORM:	LIMITED LIABILITY COMPANY

INCORPORATION DATE:	17/03/1992
REGISTER DATE:	17/03/1992
BALANCE SHEET FILING DATE:	31/12
TAX CONTRIBUTOR NUMBER(CNPJ):	94.509.304/0001-22
STATE REGISTER:	1.370.050.582

SHARE CAPITAL:	R$ 200.000,00

BOARD OF DIRECTORS:

IVANIR PEDRO LODI	MANAGING PARTNER
ANDERSON FERREIRA LODI	MANAGING PARTNER
ALINE FERREIRA LODI	MANAGING PARTNER
JEFFERSON FERREIRA LODI	MANAGING PARTNER

AUTHORIZED USE OF SIGNATURE

THE MANAGING PARTNER ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY.

SHAREHOLDERS / PARTNERS:

IVANIR PEDRO LODI	60,50%
ANDERSON FERREIRA LODI	20,50%
ALINE FERREIRA LODI	9,50%
JEFFERSON FERREIRA LODI	9,50%

AFFILIATES / SUBSIDIARIES

A SCAN THROUGH OUTSIDE SOURCES SHOWED THE SUBJECT AND/OR DIRECTORS HAS THE FOLLOWING UNCONFIRMED HOLDINGS:

SIND DA IND DE JOAL MIN 18 TRASF DE PEDRAS PREC S PDORS
ALINE FERREIRA LODI
JAA BROS CONSTRUTORA E INCORPORADORA LTDA

COMPANY'S BACKGROUND

THE SUBJECT WAS ESTABLISHED ON MARCH 17, 1992 AS DIJAL GEMAS INDUSTRIA COMERCIO E EXPORTAÇÃO LTDA. TO BE ENGAGED IN THE SAID LINE OF BUSINESS. LATER IT ADOPTED THE ABOVE MENTIONED NAME.

FURTHER DETAILS ABOUT THE SUBJECT'S HISTORY IS SO FAR NOT KNOWN.

REMARKS:

--------

WHEN CONTACTING THE SUBJECT WE INTERVIEWED MS. ALINE - PARTNER DEPARTMENT, WHO INFORMED THAT WOULD NOT DISCLOSE ANY KIND OF INFORMATION UNLESS THE INQUIRING PARTY'S NAME WAS DISCLOSED.

IF IT IS POSSIBLE TO DISCLOSE THE NAME OF THE INTERESTED SUPPLIER OF THE SUBJECT, WE MAY RESUME OUR CONTACTS AND TRY TO OBTAIN FURTHER INFORMATION.

THE DATA CONTAINED HEREIN WERE OBTAINED FROM OUTSIDE SOURCES, OUR DATABASE AND OFFICIAL. NO FURTHER DATA WAS AVAILABLE WITH SEVERAL SOURCES USUALLY INVESTIGATED.

PUBLIC INFORMATION:

NO DETRIMENTAL FILES WERE FOUND.

FINANCIAL INFORMATION

DUE TO THE SUBJECT'S LEGAL FORM, IT IS NOT OBLIGED TO PUBLISH THE BALANCE SHEET INFORMATION. WHEN INTERVIEWING SOURCES AT THE SUBJECT COMPANY DECLINED TO PROVIDE ANY KIND OF FINANCIAL INFORMATION AS THEY ARE STILL NOT AUTHORIZED TO DO SO.

OUR INVESTIGATION THROUGH THE OUTSIDE SOURCES SHOWED NO FINANCIAL DATA ABOUT THE SUBJECT.

EXCHANGE RATE:

US$ 1,00 = R$ 2,09

- OFFICIAL RATE ON 28/11/2012

COMMENTS ON THE FINANCIAL INFORMATION:

IN THE ABSENCE OF FINANCIAL DATA NO COMMENTS CAN BE PROVIDED ABOUT THE COMPANY'S CURRENT FINANCIAL STANDING.

REAL ESTATE:

NOT AVAILABLE

VEHICLES:

NOT AVAILABLE

MACHINES:

NOT AVAILABLE

INSURANCE

NOT AVAILABLE

BANKING REFERENCES

NOT AVAILABLE

REMARKS: IN BRAZIL THE BANKS ARE PROHIBITED BY LAW TO PROVIDE INFORMATION OR ANY KIND OF COMMENTS ABOUT THEIR CLIENTS. DUE TO THIS LAW PROHIBITION WE ARE UNABLE TO PROVIDE ANY BANKING DETAILS.

ACCORDING TO THE CENTRAL BANK OF BRAZIL OFFICIAL REPORT, THE COMPANY HAS NO RETURNED CHECKS UP TO DATE. (IN THE TERMS OF "CIRCULAR 1682 BRAZILIAN CENTRAL BANK").

ACTIVITIES COMMENTS

LAPPING OF GEMS.

IMPORT AND EXPORT:

IMPORTS FROM:

NOT AVAILABLE

EXPORTS TO:

NOT AVAILABLE

MAIN CLIENTS:

DOMESTIC CLIENTS:
NOT AVAILABLE

STAFF:

THE COMPANY HAS: 8 EMPLOYEE(S)

CONCEPT AND FULFILMENT

THE SUBJECT WAS ESTABLISHED IN 1992. SO FAR IT HAS A CLEAR TRADE HISTORY AND NO ADVERSE INFORMATION IS NOTED.

LITTLE OR NOTHING IS LOCALLY KNOWN OF SUBJECT AS A USER OF CREDIT FACILITIES.

MAIN SUPPLIERS:

DOMESTIC SUPPLIERS:
NOT AVAILABLE

PAYMENT HISTORY:

NO PAYMENT RECORD IS REGISTERED.

FINAL OPINION

BASED ON THE OVERALL DATA AVAILABLE THE SUBJECT MAY BE CONSIDERED FOR NORMAL BUSINESS COMMITMENTS. CREDIT FACILITIES HOWEVER SHOULD BE GRANTED ON FULLY SECURED TERMS ONLY DUE TO THE ABSENCE OF FINANCIAL DATA.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.52
UK Pound	1	Rs.87.48
Euro	1	Rs.70.89

INFORMATION DETAILS

Report Prepared by :

SDA

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.