MIRA INFORM REPORT

Report Date :

27.08.2013

IDENTIFICATION DETAILS

Name :	A A DIAMONDS (PTY)LTD

Registered Office :	158 Roberts Avenue, Kensington, 2094

Country :	South Africa

Date of Incorporation :	08.03.2001

Com. Reg. No.:	M2001/005209/07

Legal Form :	Private Company

Line of Business :	Wholesale trade in precious stones, jewellery and silverware

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 2013

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

South Africa

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

South Africa ECONOMIC OVERVIEW

South Africa is a middle-income, emerging market with an abundant supply of natural resources; well-developed financial, legal, communications, energy, and transport sectors and a stock exchange that is the 15th largest in the world. Even though the country possesses modern infrastructure that support a relatively efficient distribution of goods to major urban centers throughout the region, some components retard growth. The economy began to slow in the second half of 2007 due to an electricity crisis. State power supplier Eskom encountered problems with aging plants and meeting electricity demand necessitating "load-shedding" cuts in 2007 and 2008 to residents and businesses in the major cities. Subsequently, the global financial crisis reduced commodity prices and world demand. GDP fell nearly 2% in 2009 but has recovered since then. Unemployment, poverty, and inequality remain a challenge, with official unemployment at nearly 25% of the work force. State power supplier Eskom has built two new power stations and installed new power demand management programs to improve power grid reliability. South Africa's economic policy has focused on controlling inflation, however, the country has had significant budget deficits that restrict its ability to deal with pressing economic problems. The current government faces growing pressure from special interest groups to use state-owned enterprises to deliver basic services to low-income areas and to increase job growth.

Source : CIA

Subject Name	A A DIAMONDS (PTY)LTD
Country	SOUTH AFRICA
Subject Contact Person	SHIABNE MOHAMMED - Managing Director
Assessment	This is an established business. On investigation contact was made with SHIABNE MOHAMMED, the director of the company. A A DIAMONDS (PTY) LTD has been operating for 12 Years 5 Months. SHIABNE MOHAMMED requested that the identity of the principal enquirer be made known for security reasons before any trade references, banking details or financials are disclosed. We are unable to recommend any credit dealings at present. Please see the information obtained below.

Tax Information

Vat Number	4660262033
Status	ACTIVE
Financial Year End	February
Black Economic Empowerment
Status	No
Score	9.00

ISO Information - No Information on Record

Work Mans Information - No Information on Record

Company Structure

Subsidiaries

Subsidiary Company	There are no reported subsidiaries
Employees
Number of Employees
Comment	The staff compliment was not made available

Company Fleet

Comment

The company fleet was not made available

Offices Information - No Information on Record

Branch Information - No Information on Record

Management Overview

Organisation Chart

Level	Position	Name	Comment

1	Managing Director	SHIABNE MUHAMMAD

Company Structure (Ownership)

Note: One level up and all levels down

Holding	Company	Sub	Comment
100% - SHIABNE MOHAMMED	A A DIAMONDS (PTY) LTD

Key Deals - No Information on Record

Trade References

Trade Reference nr	Supplier	Contact	Surety Value	Notarial Bonds	Comment
1					Trade References were deemed confidential

Trade References Detail

Nr	Age of Acc	Credit Limit	Max Credit	Terms	Average Purchases	Terms Taken	Comment
1

Adverse Information on Subject

Judgements

Judgements	None
Possible Judgements	None
Civil Court	0
RDs	0
Comment	No Information on Record

Business Rescue

Date registered	Business rescue practitioner	Contact Information	Details	Comment
	There is no information found on file	No Information on Record	No Information on Record	No Information on Record

Default Listings

Date	Details	Comment
	There is no information found on file	No Information on Record
Notarial Bonds
Date	Details	Comment
	There is no information found on file	No Information on Record

· Bank Information - No Information on Record

· Bank Code History - No Information on Record

· Previous Bank Account Information - No Information on Record

· Deeds Information - No information on record

Principals

Number of Principals	1
Average Age of Active Principals	43

Active Principals Principal - 1of 1 SHIABNE MOHAMMED

Surname	MOHAMMED
First Name	SHIABNE
Other Names	None
Marital Status	Married
ID Number	7010235779081
Verified ID Number	Yes
Current Age	42 Years 10 Months
Designation	Managing Director
Status	Active
Appointment Date	2001/03/08
Physical Address (at time of Appointment)	93 NOTTINGHAM ROAD, KENSINGTON, JOHANNESBURG, 2000
Postal Address	93 NOTTINGHAM ROAD, KENSINGTON, JOHANNESBURG, 2000
Current Tel Number	0114554555
Cell number	0829641487
Shareholding/Membership	100%

Principal's Adverse - No information on record

Business Information for SHIABNE MOHAMMED

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
A A DIAMONDS (PTY) LTD	M2001/005209/07	In Business	0	0	No
ARAB AFRICAN ALLIANCE CC	B2011/103769/23	In Business	2 Years 2 Months	0	No

Principal Previous Business Interests

Average Age of Previous Business 7 Years

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
EDGE TO EDGE 1135 CC	B2001/021720/23	Deregistration Final		0	No
EXCHANGE AFRICA (PTY) LTD	M2003/019721/07	Deregistration Final	10 Years 10 Months	0	No
EXOTIC SHOPFITTERS CC	B1997/001474/23	Deregistration Final	16 Years 4 Months	0	No
RIO RIDGE 1364 CC	B2008/260238/23	Deregistration Final	5 Years 5 Months	0	No

Principal's Deeds Information - No information on record

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.

- 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 –

- Gem & Jewellery Export Promotion Council in its statistical data has shown the export of polished diamonds to have increase by 28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012, India exported $ 1.84 billion worth of polished diamonds in February 2013. A senior executive of GJEPC said, “Export of cut and polished diamonds started falling month-wise after the imposition of 2 % of import duty on the polished diamonds. But February, 2013 has given a new ray of hope to the industry as the export of polished diamonds has actually increased by 28 %. It means the industry is on the track of recovery and round tripping of diamonds has stopped completely.” Demand has started coming from the US, the UK, Japan and China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.

- The banking sector has started exercising restraint while following prudent risk management norms when lending money to gems and jewellery sector. This follows the implementation of Basel III accord – a global voluntary regulatory standard on bank capital adequacy, stress testing and market liquidity.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.64.23
UK Pound	1	Rs.100.01
Euro	1	Rs.85.93

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.

Registered Name	A A DIAMONDS (PTY)LTD
Trading as/ Division Name	A A DIAMONDS
Previous Name	None
Date of Name Change	None
Registration Number	M2001/005209/07
Registration Date	2001/03/08
Date Commenced Trading	2001-03-08
Age of Business	12 Years 5 Months
History of Business	A A DIAMONDS (PTY)LTD was registered in March 2008 and operations commenced immediately
History of Principals	There is one active director within the company.
Shareholders/Members/Partners of subject and % holding	100 % - SHIABNE MOHAMMED
Authorised Share Capital	R 4000.00
Issued Share Capital/Members Contribution	R1500.00
Status	In Business
Operations Assessment	The company is involved in the retail precious stones.
Industry/ Customers	Jewelry
Export	None
Import	Yes
Import Countries	India
Major Industry Code / SICC	61393
Definition of Code	Wholesale trade in precious stones, jewellery and silverware
Head Office Physical Address	158 ROBERTS AVENUE, KENSINGTON, 2094
Head Office Postal Address	158 ROBERTS AVENUE, KENSINGTON, 2094
Current Tel Number	0114554555
Cell Number	0829641487
Current Fax Number	0114554555
Current Email Address	aa.diamonds@hotmail.com
Web Site Address	None