MIRA INFORM REPORT

Report Date :

02.10.2014

IDENTIFICATION DETAILS

Name :	S.S. DIAM (H.K.) LTD.
Registered Office :	Room 1403, 14/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon
Country :	Hong Kong
Date of Incorporation :	14.11.2006
Com. Reg. No.:	37354894
Legal Form :	Private Limited Company
Line of Business :	Importer, Exporter and Wholesaler of All kinds of diamonds
No of Employees :	2

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 :	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 – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
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 & ADDRESS:

S.S. DIAM (H.K.) LTD.

ADDRESS: Room 1403, 14/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

PHONE: 852-2368 3648

FAX: 852-2368 3649

E-MAIL: ssdiam99@rediffmail.com

MANAGEMENT:

Managing Director: Mr. Sapan Kirit Mehta

SUMMARY:

Incorporated on: 14th November, 2006.

Organization: Private Limited Company.

Issued Capital: HK$1,500,000.00

Business Category: Diamond Trader.

Employees: 2.

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

Banking Relation: Satisfactory.

Company name:

S.S. DIAM (H.K.) LTD.

ADDRESS:

Registered Head Office:-

Room 1403, 14/F., Hart Avenue Plaza, 5-9 Hart Avenue, Tsimshatsui, Kowloon, Hong Kong.

BUSINESS REGISTRATION NUMBER:

37354894

COMPANY FILE NUMBER:

1087402

MANAGEMENT:

Managing Director: Mr. Sapan Kirit Mehta (Mobile: 852-6043 1315)

ISSUED CAPITAL:

HK$1,500,000.00

SHAREHOLDER:

(As per registry dated 21-05-2014)

Name	No. of shares
Sapan Kirit MEHTA	1,500,000 =======

DIRECTOR:

(As per registry dated 21-05-2014)

Name (Nationality)	Address
Sapan Kirit MEHTA	Flat C, 4/F., Block 4, Royal Peninsula, 8 Hung Lai Road, Kowloon, Hong Kong.

SECRETARY:

(As per registry dated 14-11-2013)

Name	Address
Bayani Divino Bautista PONCE	Flat A, 8/F., Tower 5, Caribbean Coast, 2 Kin Tung Road, Tung Chung, Lantau Island, Hong Kong.

HISTORY:

The subject was incorporated on 14th November, 2006 as a private limited liability company under the Hong Kong Companies Ordinance.

The subject increased its issued share capital to HK$1.5 million in May 2014.

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, etc.

Employees: 2.

Commodities Imported: India, other Asian countries, Belgium, other European countries, etc.

Markets: Japan, China, other Asian countries, North America, etc.

Terms/Sales: L/C, T/T, etc.

Terms/Buying: L/C, T/T, D/P, etc.

FINANCIAL INFORMATION:

Issued Capital: HK$1,500,000.00

Indebtedness: HK$1,100,980.00 (Total amount outstanding on all mortgages and charges as per last Annual Return dated 14-11-2013)

Mortgage or Charge: (See attachment)

Profit or Loss: Made a small profit in the past years.

Condition: Business is normal.

Facilities: Making rather active use of general banking facilities.

Payment: Met trade commitments as contracted.

Commercial Morality: Satisfactory.

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

Standing: Small.

GENERAL:

Having issued 1.5 million ordinary shares, S.S. Diam (H.K.) Ltd. is wholly‑owned by Mr. Sapan Kirit Mehta who is an Indian. He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently. He is also the only director of the subject.

The subject is dealing in fine coloured diamonds and rare gem stones. It supplies diamonds having different carats and sizes. Products carried include white and fancy coloured diamonds, unusual rose cut and briolette cut diamonds. According to the subject, its diamonds are below and about 1 ct.

Some of the commodities are polished diamonds. Finished products and polished diamonds are marketed in Hong Kong, exported or re-exported to Japan, other Asian countries, the Middle East, North America, etc. Business is normal.

The individual secretary of the subject Bayani Divino Bautista Ponce is also the individual secretary of many Indian firms in Hong Kong.

The subject’s total amount outstanding registered with the Companies Registry as at mid November 2013 amounted to approximately HK$1.10 million (2012: HK$1.15 million).

The subject’s business is chiefly handled by Mr. Sapan Kirit Mehta himself. He can be reached at his Hong Kong mobile phone number 852-6043 1315.

In order to penetrate the international market further, the subject has taken part in fairs and exhibitions held in Hong Kong and other foreign large cities. For instance, it is going to take part in “HKTDC Hong Kong International Diamond, Gem & Pearl Show 2015” which will be held in Hong Kong AsiaWorld-Expo, Lantau, Hong Kong during the period of 2nd to 6th March, 2015. Its booth No. is AWE 1-A41.

The subject owns premises in Hong Kong which have been mortgaged to The Hongkong & Shanghai Banking Corp. Ltd. for securing general banking facilities.

The subject’s history in Hong Kong is over seven years.

On the whole, consider it good for normal business engagements.

REMARKS:

Property information of the company:-

Property Location: Office Unit 09 on 16/F. (including Exclusive Lavatory),

Multifield Plaza, 3 Prat Avenue, Kowloon, Hong Kong.

Owner: S.S. Diam (H.K.) Ltd.

Date of Purchase: n.a.

Purchased Price: n.a.

Incumbrances:-

Date of Mortgage	Amount Consideration	Mortgagee	Nature
04-12-2008	-	The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.	Mortgage to secure general banking facilities

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.75
UK Pound	1	Rs.100.07
Euro	1	Rs.77.95

INFORMATION DETAILS

Report Prepared by :

TPT

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.