MIRA INFORM REPORT

Report Date :

08.11.2013

IDENTIFICATION DETAILS

Name :	SHINE DIAM (HK) LTD.
Registered Office :	9-D, Savoy Mansion, 49 Cameron Road, Tsimshatsui, Kowloon
Country :	Hongkong
Date of Incorporation :	05.12.2011
Com. Reg. No.:	59226712
Legal Form :	Private Limited Company.
Line of Business :	Trader of Diamonds.
No. of Employees :	NIL

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 :	Small Company
Payment Behaviour :	Slow but 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, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
Hongkong	A2	A2

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

HONGKONG - ECONOMIC OVERVIEW

Hong Kong has a free market economy, highly dependent on international trade and finance - the value of goods and services trade, including the sizable share of re-exports, is about four times GDP. Hong Kong levies excise duties on only four commodities, namely: hard alcohol, tobacco, hydrocarbon oil, and methyl alcohol. There are no quotas or dumping laws. Hong Kong's open economy left it exposed to the global economic slowdown that began in 2008. Although increasing integration with China, through trade, tourism, and financial links, helped it to make an initial recovery more quickly than many observers anticipated, it again faces a possible slowdown as exports to the Euro zone and US slump. The Hong Kong government is promoting the Special Administrative Region (SAR) as the site for Chinese renminbi (RMB) internationalization. Hong Kong residents are allowed to establish RMB-denominated savings accounts; RMB-denominated corporate and Chinese government bonds have been issued in Hong Kong; and RMB trade settlement is allowed. The territory far exceeded the RMB conversion quota set by Beijing for trade settlements in 2010 due to the growth of earnings from exports to the mainland. RMB deposits grew to roughly 9.1% of total system deposits in Hong Kong by the end of 2012, an increase of 59% from the previous year. The government is pursuing efforts to introduce additional use of RMB in Hong Kong financial markets and is seeking to expand the RMB quota. The mainland has long been Hong Kong's largest trading partner, accounting for about half of Hong Kong's exports by value. Hong Kong's natural resources are limited, and food and raw materials must be imported. As a result of China's easing of travel restrictions, the number of mainland tourists to the territory has surged from 4.5 million in 2001 to 34.9 million in 2012, outnumbering visitors from all other countries combined. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2012 mainland Chinese companies constituted about 46.6% of the firms listed on the Hong Kong Stock Exchange and accounted for about 57.4% of the Exchange's market capitalization. During the past decade, as Hong Kong's manufacturing industry moved to the mainland, its service industry has grown rapidly. Growth slowed to 5% in 2011, and less than 2% in 2012. Credit expansion and tight housing supply conditions caused Hong Kong property prices to rise rapidly and inflation to rise 4.1% in 2012. Lower and middle income segments of the population are increasingly unable to afford adequate housing. Hong Kong continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.

Source : CIA

Company Name and Address

SHINE DIAM (HK) LTD.

ADDRESS: 9-D, Savoy Mansion, 49 Cameron Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE: 852-3487 2759

MANAGEMENT

Managing Director: Mr. Savrin Subhash Shah

SUMMARY

Incorporated on: 5th December, 2011.

Organization: Private Limited Company.

Capital: Nominal: HK$10,000.00

Issued: HK$10,000.00

Business Category: Diamond Trader.

Employees: Nil.

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

Banking Relation: Satisfactory.

ADDRESS

Registered Office:-

9-D, Savoy Mansion, 49 Cameron Road, Tsimshatsui, Kowloon, Hong Kong.

BUSINESS REGISTRATION NUMBER

59226712

COMPANY FILE NUMBER

1687373

MANAGEMENT

Managing Director: Mr. Savrin Subhash Shah

CAPITAL

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

Issued Share Capital: HK$10,000.00

SHAREHOLDER

(As per registry dated 05-12-2012)

Name	No. of shares
Savrin Subhash SHAH	10,000 =====

DIRECTOR

(As per registry dated 05-12-2012)

Name (Nationality)	Address
Savrin Subhash SHAH	301, Exclusive Building, 32 Tagore Road, Santacruz (W), Mumbai-400054, India.

SECRETARY

(As per registry dated 05-12-2012)

Name	Address	Co. No.
Kaizen Secretaries Ltd.	Room 2103, 21/F., Futura Plaza, 111 How Ming Street, Kwun Tong, Kowloon, Hong Kong.	0640440

HISTORY

The subject was incorporated on 5th December, 2011 as a private limited liability company under the Hong Kong Companies Ordinance.

Formerly the registered address of the subject was located at Room 2207‑2209, 22/F., Block II, Lippo Centre, 89 Queensway, Admiralty, Hong Kong, moved to the present address in March 2012.

Apart from these, neither material change nor amendment has been ever traced and noted.

OPERATIONS

Activities: Diamond Trader.

Lines: All kinds of diamonds, etc.

Employees: Nil.

Commodities Imported: India, etc.

Markets: Hong Kong, other Asian countries, etc.

Terms/Sales: COD or as per contracted.

Terms/Buying: L/C, prepayment, etc.

FINANCIAL INFORMATION

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

Issued Share Capital: HK$10,000.00

Profit or Loss: Kept a balance account in 2012.

Condition: Business is under development.

Facilities: Making fairly active use of general banking facilities.

Payment: Met trade commitments as required.

Commercial Morality: Satisfactory

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

Standing: Small.

GENERAL

Having issued 10,000 ordinary shares of HK$1.00 each, Shine Diam (HK) Ltd. was wholly owned by Kaushal Pankaj Van who was an Indian. On 4 June, 2012, Kaushal Pankaj Van transferred all his shares to Mr. Savrin Subhash Shah who is also an Indian. The former is residing in Maharashtra, India.

Mr. Savrin Subhash Shah is also the only director of the subject. He is an India passport holder and does not have the right to reside in Hong Kong permanently. Currently he is in Hong Kong. We can reach Savrin Subhash Shah at your given phone number 852-3487 2759.

The subject commenced business in December 2011.

The subject’s registered address is in a private building located at 9-D, Savoy Mansion, 49 Cameron Road, Tsimshatsui, Kowloon, Hong Kong. It is likely that this is the residence of Shah when he is in Hong Kong. This is also the operating office of the subject.

The residential building is not trespassed by outsiders. The subject has no employees in Hong Kong.

The subject is a diamond importer, exporter and wholesaler. It is trading in loose, polished and cut diamonds. Most of the commodities are imported from India. Prime market is Hong Kong and the other Asian countries. Business is still under development.

The subject’s history in Hong Kong is just over a year and eleven months. History is short.

Since the registered office of the subject is in a residential building, on the whole, consider it good for normal business engagements on L/C basis.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.57
UK Pound	1	Rs.100.63
Euro	1	Rs.84.62

INFORMATION DETAILS

Report Prepared by :

NIT

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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