MIRA INFORM REPORT

Report Date :

11.12.2014

IDENTIFICATION DETAILS

Name :	PANCHAGULI COMPANY

Registered Office :	C/o Hong Kong Secretarial Co., Room 1001, 10/F., Kwong Fat Commercial Building, 582-588 Canton Road, Yau Ma Tei, Kowloon

Country :	Hongkong

Date of Incorporation :	21.02.2011

Com. Reg. No.:	53761027-000-02

Legal Form :	Sole Proprietorship

LINE OF BUSINESS :	THE SUBJECT IS A DIAMOND IMPORTER, EXPORTER AND WHOLESALER.

No. of Employees :	No Employees in Hongkong NOTE : It is to be noted that the company does not have its own operating office in Hong Kong. The company uses the address of its secretariat as its correspondence address only. Subject operates from some other country and does not have a base in Hong Kong. Such companies are registered in Hong Kong just to tax benefit purpose and due to the strict privacy laws prevailing in the country. In such cases, the companies are not required to have any employees in Hong Kong nor do have an office there.

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	No operating office in Hongkong

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 30, 2014

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

Hongkong

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 has no tariffs on imported goods, and it levies excise duties on only four commodities, whether imported or produced locally: 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, its continued reliance on foreign trade and investment leaves it vulnerable to renewed global financial market volatility or a slowdown in the global economy. 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 12% of total system deposits in Hong Kong by the end of 2013. 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 total trade 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. Credit expansion and tight housing supply conditions have caused Hong Kong property prices to rise rapidly; consumer prices increased by more than 4% in 2013. 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. In 2013, Hong Kong and China signed new agreements under the Closer Economic Partnership Agreement, adopted in 2003 to forge closer ties between Hong Kong and the mainland. The new measures, effective from January 2014, cover services and trade facilitation, and will improve access to the mainland's service sector for Hong Kong-based companies.

Source : CIA

Note

(Formerly located at:

C/o WinGate Business Ltd.

Room 2305A, 23/F., World-Wide House, 19 Des Voeux Road Central, Hong Kong.)

Company Name

PANCHAGULI COMPANY

ADDRESS

Registered Office:-

c/o Hong Kong Secretarial Co.

Room 1001, 10/F., Kwong Fat Commercial Building, 582-588 Canton Road, Yau Ma Tei, Kowloon, Hong Kong.

Nominal Operating Address:

c/o Gems Luck HK Ltd.

Room 1505, 15/F., Lee Wai Commercial Building, 1-3 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

[Tel: 852-2723 7555]

BUSINESS REGISTRATION NUMBER

53761027-000-02

DATE OF ESTABLISHMENT

21st February, 2011.

LEGAL FORM

Sole Proprietorship

SOLE PROPRIETOR

Name: Mr. Bhanuchandra Vrajlal LALJEE

Residential Address: Flat 606, 6/F., Star Mansion, 3-5 Minden Row, Tsimshatsui, Kowloon, Hong Kong.

CONTACT PERSON

Name: Mr. Amit Kumar

(Hong Kong Mobile Phone No.: 852-9042 6959)

HISTORY

The subject was established on 21st February, 2011 as a sole proprietorship concern owned by Mr. Bhanuchandra Vrajlal Laljee under the Hong Kong Business Registration Regulations.

At the very beginning, the registered address of the subject was located at Room 2301, 23/F., World-Wide House, 19 Des Voeux Road Central, Hong Kong, moved to Room 2305A, of the same building in October 2012. These were the operating address of a commercial service provider known as WinGate Business Ltd. It moved to the present address in October 2013 as it has changed its commercial service provider since then.

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

GENERAL

Panchaguli Company is a sole proprietorship set up and owned by Mr. Bhanuchandra Vrajlal Laljee who is an Indian. Laljee is a UK-passport holder and does not have the right to reside in Hong Kong permanently.

The subject commenced business in February 2011. It does not have its own operating office. Formerly its registered office was in a commercial service firm located at Room 2305A, 23/F., World-Wide House, 19 Des Voeux Road Central, Hong Kong known as WinGate Business Ltd. which had handled its correspondences and documents. The subject’s registered address now has changed to Room 1001, 10/F., Kwong Fat Commercial Building, 582‑588 Canton Road, Yau Ma Tei, Kowloon, Hong Kong where is the operating address of another commercial service provider. The commercial service provider also offers the subject with other related services. The subject has no employees in Hong Kong.

Your given phone number 852-2723 7555 belongs to a Hong Kong-registered company Gems Luck HK Ltd. which is located at Room 1505, 15/F., Lee Wai Commercial Building, 1-3 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong. Given mobile phone number 852-9042 6959 belongs to Mr. Amit Kumar who is Managing Director of Gems Luck HK Ltd. The subject is using Gems Luck HK Ltd. as its corresponding address.

The subject is a diamond importer, exporter and wholesaler. It is trading in loose diamonds. It carries loose diamonds like marquise, pears, tappers, buggets and rose cut, round brilliant, single cut, fancy cut, etc. It also trades in other precious stones. Commodities are chiefly imported from India, Sri Lanka, etc. Products are marketed in Hong Kong, exported to China, other Asian countries, the United Kingdom, etc. The United Kingdom is the prime market of the subject. The subject is also a commission agent.

The subject has been banking with Hang Seng Bank Ltd., Hong Kong, since establishment.

The subject’s business in Hong Kong is not very active. History in Hong Kong is just over three years and nine months.

On the whole, since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on L/C basis.

NOTE:

It is to be noted that the company does not have its own operating office in Hong Kong. The company uses the address of its secretariat as its correspondence address only. Subject operates from some other country and does not have a base in Hong Kong. Such companies are registered in Hong Kong just to tax benefit purpose and due to the strict privacy laws prevailing in the country. In such cases, the companies are not required to have any employees in Hong Kong nor do have an office there.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.95
UK Pound	1	Rs.97.16
Euro	1	Rs.76.75

INFORMATION DETAILS

Analysis Done by :	DIV

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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