MIRA INFORM REPORT

Report Date :

16.06.2012

IDENTIFICATION DETAILS

Name :	ARYA IMPEX PTE. LTD.

Registered Office :	101 Cecil Street #24-10 Tong Eng Building Singapore 069533

Country :	Singapore

Date of Incorporation :	17.07.2009

Com. Reg. No.:	200913031G

Legal Form :	Private Limited Exempt Company

Line of Business :	Wholesaler of jewellery

No. of Employees :	Not Available

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 – March 31^st, 2012

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Singapore

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

Contact Points

Company Name:	Arya Impex Pte. Ltd.
Supplied Name:	Arya Impex Pte Ltd.
Supplied Address:	8-C Tanjono Rhu Road #11-02 Palazzetto Singapore

Credit Summary

Credit Opinion:

Business connections are permissible.

Special Note

According to the supplied name and address, we couldn’t obtain the contact methods of subject. And according to the registered address, we also can not obtain the contact methods of subject.

If you can supply a photocopy of subject's letterhead, a current telephone or fax number for the company, we shall be pleased to have the investigation resumed.

The registration files show that subject is engaged in wholesale of jewellery since we did not get in touch with subject, we can not confirm the information.

We found subject’s registration information as follows for reference.

Company Identification Details

Registered Name:	Arya Impex Pte. Ltd.
Registered Address:	101 Cecil Street #24-10 Tong Eng Building Singapore 069533
Date of Registration::	2009-7-17
Registered Number:	200913031G
Country of Incorporation:	Singapore
Registered Capital:	SGD 2.00 (USD 1.56062) (As of 2012.6, 1 SGD = 0.78031 USD)
Paid-up Capital:	SGD 2.00 (USD 1.56062) = 2 Shares@1 SGD
Legal Form:	Private Limited Exempt Company
Principal Activities:	46421 Wholesale of jewellery
Staff:	N/A
Status:	Live Company
Listed at Stock Exchange:	No.
Date of Last Annual Return:	2012-1-27

Note:

The staff number is not available from the subject or other sources.

History

Subject was incorporated on 2009-7-17 with registered number 200913031G as Private Limited Liability Company in Singapore.

Shareholders

Unit: SGD

Name	Subscription Amount	Proportion of Investment (%)
SHETH RUSHIN NAVINCHANDRA	1	50%
KARAN PARIKH	1	50%
Total	2	100%

Major Shareholder Information:

1
Name:	SHETH RUSHIN NAVINCHANDRA
ID Number:	S7984566C
Address:	8C TANJONG RHU ROAD #11-02 PALAZZETTO Singapore 436891
Nationality:	Singapore P.R.
2
Name:	KARAN PARIKH
ID Number:	S8870026J
Address:	99 MEYER ROAD #07-02 SOVEREIGN, THE Singapore 437920
Nationality:	Singapore P.R.

Subsidiaries & Branches

Subject did not register any subsidiaries or branches, from other source we can not obtain the relevant information, either.

Manage Information

Core Management

Detailed Information of Management:

1
Name:	THEERTHAM RAVICHANDRAN
Position:	Secretary
ID Number:	S2615148A
Address:	97 Belimbing Avenue Oasis @ Mulberry Singapore 347488
Nationality:	SINGAPORE CITIZEN
Date of Appointment:	2009-11-1
2
Name:	SHETH RUSHIN NAVINCHANDRA
Position:	Director
ID Number:	S7984566C
Address:	8c Tanjong Rhu Road #11-02 Palazzetto Singapore 436891
Nationality:	Singapore P.R.
Date of Appointment:	2009-7-17
3
Name:	KARAN PARIKH
Position:	Director
ID Number:	S8870026J
Address:	99 MEYER ROAD #07-02 SOVEREIGN, THE Singapore 437920
Nationality:	Singapore P.R.
Date of Appointment:	2009-7-17

Operation Information

Offices & Factories

	Office
Registered Address:	101 Cecil Street #24-10 Tong Eng Building Singapore 069533

Operation Information

We contacted the subject unsuccessfully.

We obtained the registered activities of the subject as follows for reference.

Business Code	Details
46421	Wholesale of jewellery

Settlements

We couldn’t contact the subject successfully, and the settlement information is not available from the subject or other sources.

Financial Information

Subject has no obligations to disclose its financial statements to the third party according to the relevant policy in Singapore and the only source from which we can obtain the information is the subject itself.

And we couldn’t contact the subject successfully; the financial information is not available from the subject.

Bankers

Open Account Bank

The bankers’ information is not available from the subject or other sources.

Auditors

Name:

T RAVI & CO.

DIAMOND INDUSTRY – INDIA

- From time immemorial, India is well known in the world as the birthplace for diamonds. It is difficult to trace the origin of diamonds but history says that in the remote past, diamonds were mined only in India. Diamond production in India can be traced back to almost 8^th Century B.C. India, in fact, remained undisputed leader till 18^th Century when Brazilian fields were discovered in 1725 followed by emergence of S. Africa, Russia and Australia.

- The achievement of the Indian diamond industry was possible only due to combination of the manufacturing skills of the Indian workforce and the untiring and unflagging efforts of the Indian diamantaires, supported by progressive Government policies.

- The area of study of family owned diamond businesses derives its importance from the huge conglomerate of family run organizations which operate in the diamond industry since many generations.

- Some of the basic traits of family run business enterprises include spirit of entrepreneurship, mutual trust lowers transaction costs, small, nimble and quick to react, information as a source of advantage and philanthropy.

- Family owned diamond businesses need to improve on many fronts including higher standard of corporate governance, long-term performance – focused strategies, modern management and technology.

- The diamond jewellery industry in India today may be more than Rs 60000 mil and is rated amongst the fastest growing in the world. Indi ranks third in the world in domestic diamond consumption.

- Utmost caution is to be exercised while dealing with some medium and large diamond traders which are usually engaged in fictitious import – export, inter-company transactions, financially assisted by banks. In the process, several public sector banks lost several hundred million rupees. They mostly diverted borrowed money for diamond business into real estate and capital markets.

- Excerpts from Times of India dated 30^th October 2010 is as under –

DIAMOND SAGA – DIRTY DOZEN STUCK WITH 2K CR DEBT

This could be the biggest credibility crisis the Indian diamond industry has ever faced. Fifteen banks run the risk of losing Rs 2000 crore lent to a dozen diamond firms in Surat. Until about two months ago, they had not repaid these dues. Bankers believe many diamantaires borrowed money during the economic downturn two years ago and diverted funds to businesses like real estate and capital markets. Many of themselves made money from these businesses but their diamond companies have gone sick and declared insolvency.

- Most of the money borrowed from the banks in the name of their diamond business has been diverted in real estate and the share market. The banks are not in a position to seize their properties because in many cases, these were purchased in the name of their relatives and friends.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.76
UK Pound	1	Rs.86.69
Euro	1	Rs.70.44

INFORMATION DETAILS

Report Prepared by :

MNL

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.