MIRA INFORM REPORT

Report No. :	310423
Report Date :	09.03.2015

IDENTIFICATION DETAILS

Name :	LRS GEMS LIMITED

Registered Office :	Room 703, 7/F Hart Avenue Plaza, 5-9 Hart Avenue, Tsim Shat Sui

Country :	Hong Kong

Date of Incorporation :	03.07.2013

Com. Reg. No.:	1931488

Legal Form :	Private Limited Liability Company

Line of Business :	From public files we found subject is mainly engaged in trading of emeralds. Since we failed to contact with the subject, the above information cannot be confirmed by the subject

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 – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

Hong Kong

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

Contact Points

Company Name:	LRS Gems Limited
Supplied Name:	LRS GEMS LTD
Trading Address:	Room 703, 7/F Hart Avenue Plaza, 5-9 Hart Avenue, Tsim Shat Sui Hong Kong
Supplied Address:	FLAT - 703, 7/F, HART AVENUE PLAZA, 5-9, HART AVENUE, T S T KOWLOON, HONGKONG

Note: The exact name and address are as above.

Credit Summary

Credit Opinion:

Business connections are permissible.

Special Note

We made an on-site visit to the supplied address, and confirmed subject is at this location.

We tried to contact subject many times through the supplied telephone number +852-2721-4444 for many times, however, on one answered the phone.

From public files, we found an E-mail lrsgems@gmail.com belongs to subject, we have sent an E-mail to the subject, there is no reply at this stage.

According to the supplied name and address, we cannot find other valid contact information of subject.

Update to date of reporting, we failed to get in touch with subject. If you can supply a current telephone, we’d like to have the investigation resumed.

We found subject’s registration information as follows for reference.

Company Identification Details

Registered Name:	LRS Gems Limited
Registered Address:	Room 703, 7/F Hart Avenue Plaza, 5-9 Hart Avenue, Tsim Shat Sui Hong Kong
Date of Registration:	2013-7-3
Registered Number:	1931488
Business Registration No.:	61677957
Paid-up Capital:	HKD (USD 6,450) = 50,000 Shares@ HKD 1 (As of 2015.03, 1 HKD = 0.129 USD)
Legal Form:	Private Limited Liability Company
Principal Activities:	N/A
Staff:	N/A
Listed at Stock Exchange:	No
Date of Last Annual Return:	2014-7-3

Notes: Since we didn’t contact subject successfully, the principal activities and staff number are not available from any sources.

History

Subject was incorporated on 2013-7-3 with the registered number 1931488 as Private Limited Liability Company in Hong Kong.

Change of Address:

Former Address	Flat C, 16/F, Hart Avenue Court, 19-23 Hart Avenue, Tsim Sha Tsui, Kowloon, Hong Kong
Current Address	Room 703, 7/F Hart Avenue Plaza, 5-9 Hart Avenue, Tsim Shat Sui Hong Kong

Corporate Structure

Subject did not register any subsidiaries or branches, from other source we can not obtain the relevant information, either.

Shareholders

Name	Subscription Shares	Proportion of Investment (%)
Soni Rashmi Kant	30,000	60%
Jain Divya	20,000	40%
Total	50,000	100%

Major Shareholder Information:

1
Name:	Soni Rashmi Kant
Address:	Flat C, 16/F, Hart Avenue Court, 19-23 Hart Avenue, Tsim Sha Tsui, Kowloon, Hong Kong
2
Name:	Jain Divya
Address:	Flat C, 16/F, Hart Avenue Court, 19-23 Hart Avenue, Tsim Sha Tsui, Kowloon, Hong Kong

Management Information

Core Management

Detailed Information of Directors:

1
Name:	Jain Divya
Address:	Flat C, 16/F, Hart Avenue Court, 19-23 Hart Avenue, Tsim Sha Tsui, Kowloon, Hong Kong
Position:	Director
Passport Number:	K7330778
Issuing Country:	India
2
Name:	Champion Corporate Limited
Address:	Unit 907, 9/F Silvercord Tower 2, 30 Canton Road, Tsim Sha Tsui, Kowloon, Hong Kong
Position:	Corporate Secretary
Registered Number:	657221
Date of Appointment:	2014-12-10

Former Directors:

Name:	Soni Rashmi Kant
Address:	Flat C, 16/F, Hart Avenue Court, 19-23 Hart Avenue, Tsim Sha Tsui, Kowloon, Hong Kong
Position:	Secretary
Passport Number:	Z2531664
Issuing Country:	India
Date of Resignation:	2014-12-10

Operation Information

Offices & Factories

	Office
Address:	Room 703, 7/F Hart Avenue Plaza, 5-9 Hart Avenue, Tsim Shat Sui Hong Kong

Premises Information

Office address:

Address:	Office No.3 On 7th Floor Hart Avenue Plaza Nos.5, 5a, 7, 7a, 9 & 9a Hart Avenue Kowloon
Owners:	Broadrate Company Limited
Memorial Number:	UB4912226
Date of Instrument:	1991-6-15
Date of Registration:	1991-7-26
Consideration Value:

History of Premises Owners’

1
Memorial No.:	UB5544624
Date of Instrument:	1993-1-5
Date of Registration:	1993-1-27
Nature:	Declaration Of John Ho As To Loss Of Title Deeds
2
Memorial No.:	UB5331445
Date of Instrument:	1992-6-8
Date of Registration:	1992-7-3
Nature:	No-Objection Letter Re Kil 10579 Rp
3
Memorial No.:	UB5331444
Date of Instrument:	1992-6-8
Date of Registration:	1992-7-3
Nature:	No-Objection Letter Re Kil 10524 Rp

Operation Information

From public files we found subject is mainly engaged in trading of emeralds

Since we failed to contact with the subject, the above information cannot be confirmed by the subject.

Settlements

Since we didn’t contact subject successfully, the settlement information is not available from any sources.

Financial Information

The subject has no obligation to supply its financial statement to the third party according to the relevant policy in Hong Kong and the only source from which we can obtain the information is the subject itself.

Since we didn’t contact subject successfully, the financial information is not available from any sources.

Bankers

Since we didn’t contact subject successfully, the bank information is not available from any sources.

Public

Mortgage Record

No mortgage records of subject were found.

Lawsuits

Up to now, no present or latent litigation of the subject has been found.

High Court Action:	Clear
High Court Baukufty Bankruptcy Proceedings:	Clear
High Court Commercial Action:	Clear
High Court Construction & Arbitration Proceedings:	Clear
High Court Companies Winding-Up:	Clear

Attachment

We made an on-site visit to the supplied address, and confirmed subject is at this location. And we tried to knock the door for several times, there is no respond.

Room 703, 7/F Hart Avenue Plaza, 5-9 Hart Avenue, Tsim Shat Sui Hong Kong

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.20
UK Pound	1	Rs.94.71
Euro	1	Rs.68.60

INFORMATION DETAILS

Analysis Done by :	RAS

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.