MIRA INFORM REPORT

Report Date :

18.12.2014

IDENTIFICATION DETAILS

Name :	ELEKTRA (HK) LTD.
Registered Office :	c/o Lodestar Secretaries Ltd. 13/F., Wah Kit Commercial Centre, 302 Des Voeux Road Central,
Country :	Hong Kong
Date of Incorporation :	29.08.2013
Com. Reg. No.:	61959399
Legal Form :	Private Limited Company
LINE OF BUSINESS :	IMPORTER, EXPORTER AND WHOLESALER OF ALL KINDS OF DIAMONDS
No. of Employees :	01

RATING & COMMENTS

MIRA’s Rating :

NB

RATING		STATUS	PROPOSED CREDIT LINE
--	NB	New Business	--

Status :	New Business
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)
Hong Kong	A1	A1

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

HONG KONG - 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

Company name and address

ELEKTRA (HK) LTD.

ADDRESS: c/o Lodestar Secretaries Ltd.

13/F., Wah Kit Commercial Centre, 302 Des Voeux Road Central, Hong Kong.

PHONE: 852-91494071

FAX: Not disclosed.

E-MAIL: elektrahk@gmail.com

MANAGEMENT

Managing Director: Mr. Nileshkumar Ghanshyambhai Sonani

SUMMARY

Incorporated on: 29th August, 2013.

Organization: Private Limited Company.

Issued Share Capital: HK$500,000.00

Business Category: Diamond Trader.

Employee: 1.

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

Banking Relation: Satisfactory.

ADDRESS

Registered Office:-

c/o Lodestar Secretaries Ltd.

13/F., Wah Kit Commercial Centre, 302 Des Voeux Road Central, Hong Kong.

BUSINESS REGISTRATION NUMBER

61959399

COMPANY FILE NUMBER

1959517

MANAGEMENT

Managing Director: Mr. Nileshkumar Ghanshyambhai Sonani

ISSUED SHARE CAPITAL: HK$500,000.00

SHAREHOLDER: (As per registry dated 29-08-2014)

Name	No. of shares
Nileshkumar Ghanshyambhai SONANI	500,000 ======

DIRECTOR: (As per registry dated 29-08-2014)

Name (Nationality)	Address
Nileshkumar Ghanshyambhai SONANI	51 Rachana Soc, Kapodara Varachha Road, Surat, Gujarat 395006, India.

SECRETARY: (As per registry dated 29-08-2014)

Name	Address	Co. No.
Lodestar Secretaries Ltd.	13/F., Wah Kit Commercial Centre, 302 Des Voeux Road Central, Hong Kong.	0113023

HISTORY

The subject was incorporated on 29th August, 2013 as a private limited liability company under the Hong Kong Companies Ordinance.

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

OPERATIONS

Activities: Importer, Exporter and Wholesaler.

Lines: All kinds of diamonds.

Employee: 1.

Commodities Imported: India, etc.

Markets: Hong Kong, other Asian countries, North America, etc.

Terms/Sales: L/C or as per contracted.

Terms/Buying: L/C or as per contracted.

FINANCIAL INFORMATION

Issued Share Capital: HK$500,000.00

Profit or Loss: Too early to offer an opinion.

Condition: Business is still under development.

Facilities: Making fairly active use of general banking facilities.

Payment: UNKNOWN.

Commercial Morality: Satisfactory

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

Standing: Small.

GENERAL

Elektra (HK) Ltd. was incorporated in August 2013 as a private limited liability company.

Having issued 500,000 ordinary shares of HK$1.00 each, the subject is wholly owned by Nileshkumar Ghanshyambhai Sonani who is an India merchant. He is an India passport holder and does not have the right to reside in Hong Kong permanently. He is also the only director of the subject.

The subject does not have its own operating office. Its registered office is in a commercial service firm located at 13/F., Wah Kit Commercial Centre, 302 Des Voeux Road Central, Hong Kong known as Lodestar Secretaries Ltd. which is handling its correspondences and documents. This company is also the corporate secretary of the subject.

The subject is a diamond trader. It has a representative in Hong Kong who can be reached at your given Hong Kong mobile phone number
852-9149 4071. The representative is also an Indian. He reported to us that the subject belongs to one of his friends in India. He is handling documents of the subject.

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 markets are Hong Kong, China, the other Asian countries, North America, etc. Business is still under development.

It has been banking with The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

The subject’s business in Hong Kong is not very active. History, which is short in Hong Kong, is just over a year and three months.

On the whole, since the history of the subject is short, consider it good for normal business engagements on L/C basis.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.58
UK Pound	1	Rs.99.98
Euro	1	Rs.79.39

INFORMATION DETAILS

Analysis Done by :	RAS
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%)

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