MIRA INFORM REPORT

Report Date :

30.11.2013

IDENTIFICATION DETAILS

Name :	HDL DIAMANT HANDELAARS WATERFRONT CC

Registered Office :	7 Dan Pienaar Venuedan Pienaar Bloemfontien 9301.

Country :	South Africa

Date of Incorporation :	03.01.2007

Com. Reg. No.:	B2007/000760/23

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 – September 30th, 2013

Country Name

Previous Rating

(30.06.2013)

Current Rating

(30.09.2013)

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	HDL DIAMANT HANDELAARS WATERFRONT CC
Country	SOUTH AFRICA
Enquiry Terms	30 Days
Account Review	Recommended Every 6 Months
Subject Contact Person	MYLANIE LAUBSCHER -Managing member
Assessment	This is an established business. On investigation we made contact with MYLANIE LAUBSCHER the managing member who declined to assist with any information on the subject. MRS LAUBSCHER requested to know the name of the principal enquirer before she can divulge any information on the subject. Please see the available information on the subject below.

Auditors information

Company Registered Name	KPMG INC
Trading Name	KPMG
Registration Number	1999/021543/21
Physical Address	KPMG House, Norvic Drive, GREENACRES, PORT ELIZABETH,6045
Postal Address	P O BOX 1662,PORT ELIZABETH 6000
Contact Person	DULCE
Contact Number	0413951500
Email	info@kmpg.co.za
Judgements Against Subject	No found on file
Judgements Against Principals	No found on file
Subject Verified as Client	Yes
Practice Number	900133E
VAT Number	4530188665
Tax Number	9559555843
BEE Status	Level 2
Financial Year End	www.kpmg.co.za
No of years in Business	6 Years 10 Months
Website	www.kpmg.com

Previous Auditors Information - No Information on Record

Tax information

Vat Number	4690239548
Status	ACTIVE
Vat Liable Date	2007/03/01
Tax Number	9034806175
Financial Year End	February

Black Economic Empowerment Information - No Information on Record

ISO Information - No Information on Record

Work Mans Information - No Information on Record

Company Structure

Subsidiaries Information - No Information on Record

Employees Information - No Information on Record

Company Fleet Information - No Information on Record

Offices Information - No Information on Record

Branch Information - No Information on Record

Branches Names	Country	Province
HDL DIAMANT HANDELAARS WATERFRONT CC	South Africa	BLOEMFONTEIN
Branch Detail Information
Branches Owned/ Rented	Leased
Rental Company	MIMOSA MALL
Type of Premises	Showroom and shop

Management Overview

Organisation Chart

Level Position Name

1 Managing member MYLANIE LAUBSCHER

1 Managing member SONJA LAUBSHER

Company Structure (Ownership)

Note: One level up and all levels down

Holding	Company	Sub	Comment
50%- MYLANIE LAUBSCHER	HDL DIAMANT HANDELAARS WATERFRONT CC
50%o- SONJA LAUBSHER	HDL DIAMANT HANDELAARS WATERFRONT CC

Key Deals - No Information on Record

Trade References Information - No Information on Record

Adverse Information on Subject

Judgements - No information on record

Business Rescue - No Information on Record

Default Listing - No information on record

Notarial Bonds - 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	2
Average Age of Active Principals	42

Active Principals Principal - 1 of 2 MYLANIE LAUBSCHER

Surname	LAUBSCHER
First Name	MYLANIE
Other Names	NONE
Marital Status
ID Number	7111010069084
Verified ID Number	Yes
Current Age	42 Years
Designation	MANAGING MEMBER
Status	Active
Appointment Date	2007/10/03
Physical Address (at time of Appointment)	FRANS KLEYNHANS ROAD, KAREEKOP, GROENVLEI, BLOEMFONTEIN, 9301
Postal Address	P O BOX 12060, BRANDHOF, 9324
Current Tel Number	0514472040
Cell number	0825505119
Shareholding/Membership	50%

Principal's Adverse - No information on record

Business Information for MYLANIE LAUBSCHER

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
HDL DIAMANT HANDELAARS WATERFRONT CC	B2007/000760/23	In Business	6 Years 6 Months	0	No

Principal's Previous Business Interests - No information on record

Principal's Deeds Information - No information on record

Principal - 2 of 2 SONJA LAUBSCHER

Surname	LAUBSCHER
First Name	SONJA
Other Names	NONE
Marital Status
ID Number	7104200259086
Verified ID Number	Yes
Current Age	42 Years 7 Months
Designation	MANAGING MEMBER
Status	Active
Appointment Date	2007/10/03
Physical Address (at time of Appointment)	1A STEWART CRESCENT, WAVERLEY, BLOEMFONTEIN, 9301
Postal Address	P O BOX 12060, BRANDHOF, 9324
Current Tel Number	0514346940
Cell number	0824211604
Shareholding/Membership	50%

Principal's Adverse - No information on record

Business Information for SONJA LAUBSCHER

Principal Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
HDL DIAMANT HANDELAARS WATERFRONT CC	B2007/000760/23	In Business	6 Years 6 Months	0	No

Principal's Previous Business Interests - No information on record

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.62.39
UK Pound	1	Rs.102.06
Euro	1	Rs.84.98

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	HDL DIAMANT HANDELAARS WATERFRONT CC
Trading as/ Division Name	None
Previous Name	None
Date of Name Change	None
Registration Number	B2007/000760/23
Registration Date	2007/01/03
Date Commenced Trading	2007-01-03
Age of Business	6 Years 10 Months
History of Business	The subject was established in 2007
History of Principals	There are currently 2 members within the subject
Shareholders/Members/Partners of subject and % holding	50%- MYLANIE LAUBSCHER50%- SONJA LAUBSHER
Authorised Share Capital	R 0.00
Issued Share Capital/Members Contribution	R 0.00
Status	In Business
Operations Assessment	The subject main operation is to manufacture and retail jewellery
Industry/ Customers	The general public
Export	None
Import	None
Major Industry Code / SICC	61393
Definition of Code	Wholesale trade in precious stones, jewellery and silverware
Head Office Physical Address	7 DAN PIENAAR VENUEDAN PIENAAR BLOEMFONTIEN9301. The address provided below belongs to A branch of HDL DIAMANT HANDELAARS WATERFRONT Mimosa Mall Store Bloemfontein
Head Office Postal Address	P O BOX 29630DANHOF 9310
Current Tel Number	0514446940
Cell Number	Unavailable
Current Fax Number	Unavailable
Current Email Address	sonja@hdljewl.co.za
Web Site Address	www.hdljewl.co.za