MIRA INFORM REPORT

Report Date :

10.04.2014

IDENTIFICATION DETAILS

Name :	HIMAT TRADERS CC

Registered Office :	255 Main Street, Johannesburg, South Africa, 2000 Po Box 3244, Lenasia, 1820

Country :	South Africa

Date of Incorporation :	13.10.2009

Com. Reg. No.:	B2009/191118/23

Legal Form :	Private Company

LINE OF BUSINESS :	WHOLESALING AND TRADING OF DIAMONDS

No. of Employees	01

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	No complaints
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 – december 01, 2013

Country Name

Previous Rating

(30.09.2013)

Current Rating

(01.12.2013)

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, unstable electricity supplies retard growth. 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. Eskom, the state-run power company, 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

Company name and address

Subject Name	HIMAT TRADERS CC
Country	South Africa
Enquiry Terms	COD
Account Review	Recommended Every 6 Months
Subject Contact Person	NIMMESH HARIAL GORBIE - Member
Assessment	This is an established business. On investigation contact was made with NIMMESH HARIAL GORBIE the member. The subject provided 1 trade reference as the remaining suppliers are based overseas. We obtained a bank code C for R 500 000 over a period of 30 days. Please see the available information on the subject below.

Auditors information

Company Registered Name	MANI FINANCIAL SERVICES CC
Trading Name	None
Registration Number	2004/007077/23
Physical Address	337 EXTENTION 4, MZINONI TOWNSHIP, BETHAL, 2310
Postal Address	P O BOX 291450, MELVILLE, 2109
Contact Person	RANJU
Contact Number	0827861828
Email	Unavailable
Principals
Judgements Against Subject	Unavailable
Judgements Against Principals	Unavailable
Subject Verified as Client	No
Practice Number	15690
VAT Number	Unavailable
Tax Number	9031181184
BEE Status	Unavailable
Financial Year End	February
No of years in Business	4 Years 6 Months
Website	Unavailable
Comment

Previous Auditors Information - No Information on Record

Tax information

Vat Number	4390260133
Status	ACTIVE
Vat Liable Date
Tax Number	9028192228
Tax Clearance Expire Date
Financial Year End	February
Comment
Black Economic Empowerment
Status	Yes
Score	3.00
Expire Date	Oct 82014
BEE Certificate Available	No
Comment

ISO Information - No Information on Record
Workman's compensation
Registered	Yes
Compliance Certified	Yes
Comment

Company Structure

Subsidiaries Information - No Information on Record

Employees
Number of Employees	1
1. Salaried employees	1
2. Waged employees
3. Permanent employees	1
4. Casual employees
5. Contracted employees
Comment

Company Fleet Information - No Information on Record

Offices

Offices	Offices
Head Office Owned/ Rented	Leased
Rental Company	RIDDY FINE PROPERTIES
Owned by
Value
Bond
Bank
Lease Agreement
Lease Expire Date
Type of Premises	Office Blocks
Comment

Branch Information - No Information on Record

Management Overview

Organisation Chart

Level	Position	Name	Comment
1	Director	NIMESH HARIAL GORBIE

Company Structure (Ownership)

Holding	Company	Sub	Comment
100 % - NIMMESH HARIAL GORBIE	HIMAT TRADERS CC	None

Key Deals - No Information on Record

Trade References

Trade Reference nr	Supplier	Contact	Surety Value	Notarial Bonds	Comment
1	SAIDEX	0824179503

Trade References Detail

Nr	Age of Acc	Credit Limit	Max Credit	Terms	Average Purchases	Terms Taken	Comment
1	4 Years				R 500000		Good account. The subject deals on a cash on delivery basis.

Adverse Information on Subject

Judgements - No information on record

BusinessRescue - No Information on Record

Default Listing - No information on record

Notarial Bonds - No information on record

Bank information

Bank	NEDBANK
Branch	EASTGATE
Brach Code	198765
Bank Account Number	1011387646
Type of Account	CURRENT
Account Name	HIMAT TRADERS CC
Overdraft Facilities	YES
Bank Code	C - For R 500 000
Bank Comment	The subject's bankers consider them good for all business normal engagements

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	46
Active Principals Principal - 1 of 1 NIMMESH GOBRIE
Surname	GOBRIE
First Name	NIMMESH
Other Names	HARIAL
Marital Status
ID Number	6812085082081
Verified ID Number	Yes
Current Age	45 Years 4 Months
Designation	Member
Status	Active
Appointment Date	2009/10/13
Physical Address (at time of Appointment)	18 MILKWOOD STREET, LENASIA SOUTH, 1820
Postal Address	P O BOX 3244, LENASIA, 1821
Current Tel Number	0117782000
Cell number	0845847418
Shareholding/Membership	100 %

Principal's Adverse - No information on record

Business Information for NIMMESH GOBRIE Principal

Current Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
ASSMANG LTD	M1935/007343/06	In Business	78 Years 6 Months	0	No
ORE AND METAL COMPANY LTD	M1930/002363/06	In Business	83 Years 11 Months	0	No
HIMAT TRADERS CC	B2009/191118/23	In Business	5 Years 5 Months	0	No
KAILASH TRADING (PTY)LTD	K2012/057130/07	In Business	2 Years 2 Months	0	No
S.R.S IMPEX (PTY)LTD	K2011/121820/07	Deregistration Process	3 Years 3 Months	0	No

Principal Previous Business Interests

Company Name	Registration No	Status	Age of Business	Judgements	Liquidation	Comment
K2011131696 (South Africa) (PTY)LTD	K2011/131696/07	Deregistration Process	3 Years 3 Months	0	No

Principal Deeds Information

Property Interests for NIMMESH GOBRIE
Title Deed No.	T39347/1997	Erf/Site No.	0
Deeds Office	JOHANNESBURG	Physical Address	18 MILKWOOD LENASIA SOUTH LENASIA SOUTH
Property Type	Freehold	Extent / Size	600VKM
Purchase Date	1996/12/17	Purchase price
% Ownership	0.00	Bond Holder	NEDCOR BANK LTD
Bond Number	B373491997	Bond Amount
Comment
Property Interests for NIMMESH GOBRIE
Title Deed No.	T84500/2007	Erf/Site No.
Deeds Office	PRETORIA	Physical Address	6 BAILEY MIDSTREAM ESTATE OLIFANTSFONTEIN
Property Type	Freehold	Extent / Size	1050.0SQM
Purchase Date	2007/01/26	Purchase price
% Ownership	0.00	Bond Holder	NEDBANK LTD
Bond Number	B1052312007	Bond Amount
Comment

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.60.07
UK Pound	1	Rs.100.56
Euro	1	Rs.82.79

INFORMATION DETAILS

Analysis Done by :	SUB

Report Prepared by :	NIS

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	HIMAT TRADERS CC
Trading as/ Division Name	None
Previous Name	None
Date of Name Change	2011-10-19
Registration Number	B2009/191118/23
Registration Date	2009/10/13
Date Commenced Trading	2009-10-13
Age of Business	4 Years 6 Months
History of Business	The subject commenced trading as a new business in 2006.
History of Principals	There is 1 active member within the business.
Shareholders/Members/Partners of subject and % holding	100 % - NIMMESH HARIAL GORBIE
Authorised Share Capital
Issued Share Capital/Members Contribution
Status	In Business
Operations Assessment	The subject main operation is wholesaling and trading of diamonds
Industry/ Customers	The jewellry industry
Export	Yes
Export Countries	India
Import	None
Import Countries
Major Industry Code / SICC	39212
Definition of Code	Diamond cutting and polishing
Head Office Physical Address	255 MAIN STREET, JOHANNESBURG, SOUTH AFRICA, 2000
Head Office Postal Address	PO BOX 3244, LENASIA, 1820
Current Tel Number	0118559519
Cell Number	0832524036
Current Fax Number	0866841841
Current Email Address	himat@mweb.co.za
Web Site Address	None
Comments