MIRA INFORM REPORT

Report No. :	324290
Report Date :	28.05.2015

IDENTIFICATION DETAILS

Name :	SELENE DIAM LTD.
Registered Office :	Flat 1011, 10/F., Peninsula Square, West Wing, 18 Sung On Street, Hung Hom, Kowloon
Country :	Hong Kong
Date of Incorporation :	14.01.2014
Com. Reg. No.:	62633245
Legal Form :	Private Limited Company
Line of Business :	Trader of All kinds of diamonds
No of Employees :	4

RATING & COMMENTS

MIRA’s Rating :

Ca

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 :	Business is Under Development
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	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderate Low Risk	B1
Moderate Risk	B2
Moderate High Risk	C1
High Risk	C2
Very High Risk	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 40.7 million in 2013, 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 48.5% of the firms listed on the Hong Kong Stock Exchange and accounted for about 56.9% 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. As of year-end 2014, the Democracy protests that began in late September probably will have some adverse effects on economic growth, particularly retail sales.

Source : CIA

Company name & address

SELENE DIAM LTD.

ADDRESS: Flat 1011, 10/F., Peninsula Square, West Wing, 18 Sung On Street, Hung Hom, Kowloon, Hong Kong.

PHONE: 852-2312 6399

E-MAIL: nilesh@selenediam.com

MANAGEMENT

Managing Director: Mr. Nileshkumar Popatbhai Chanchad

SUMMARY

Incorporated on: 14th January, 2014.

Organization: Private Limited Company.

Issued Share Capital: HK$50,000,000.00

Business Category: Diamond Trader.

Employees: 4.

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

Banking Relation: Satisfactory.

Company name

SELENE DIAM LTD.

ADDRESS

Registered Head Office:-

Flat 1011, 10/F., Peninsula Square, West Wing, 18 Sung On Street, Hung Hom, Kowloon, Hong Kong.

Associated Companies:-

S. Goldi (Asia) Ltd., Hong Kong.

Savuri Diamonds (Shanghai) Co. Ltd.

Suite A907 B, China Diamond Exchange No. 1701 Century Boulevard, Shanghai, China.

[Tel: +86-21-5015 8333, +86-21-5015 8338]

BUSINESS REGISTRATION NUMBER

62633245

COMPANY FILE NUMBER

2026090

MANAGEMENT

Managing Director: Mr. Nileshkumar Popatbhai Chanchad

Sales Manager: Ms. Griselda Lam

ISSUED SHARE CAPITAL

HK$50,000,000.00

SHAREHOLDERS

(As per registry dated 23-03-2015)

Name		No. of shares
YANG Yaqin		25,000,000
Nileshkumar Popatbhai CHANCHAD		25,000,000
		–––––––––
	Total:	50,000,000 ========

DIRECTORS

(As per registry dated 23-03-2015)

Name (Nationality)	Address
Nileshkumar Popatbhai CHANCHAD	Flat H, 17/F., Tower 15A, Laguna Verde, Costa Del Sol, 8 Laguna Verde Avenue, Hunghom, Kowloon, Hong Kong.
YANG Yaqin	Room 1501, No. 1, Lane 501, Chi Feng Road, Hongkou District, Shanghai, China.

SECRETARY

(As per registry dated 14-01-2015)

Name	Address	Co. No.
R & S Services Ltd.	Room 904, 9/F., Loon Kee Building, 275 Des Voeux Road Central, Hong Kong.	1914349

HISTORY

The subject was incorporated on 14th January, 2014 as a private limited liability company under the Hong Kong Companies Ordinance.

Formerly the subject was located at Room 1403, 14/F., New Landwide Commercial Building, 73 Kimberley Road, Tsimshatsui, Kowloon, Hong Kong, moved to the present address with effect from 23rd March, 2015.

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

OPERATIONS

Activities: Diamond Trader.

Lines: All kinds of diamonds, etc.

Employees: 4.

Commodities Imported: China, Europe, etc.

Markets: Hong Kong, India, other Asian countries, etc.

Terms/Sales: COD or as per contracted.

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

FINANCIAL INFORMATION

Issued Share Capital: HK$50,000,000.00

Profit or Loss: Too early to offer an opinion.

Condition: Business is under development.

Facilities: Making use of general banking facilities.

Payment: Met trade commitments as required.

Commercial Morality: Satisfactory.

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

Standing: Small.

GENERAL

Having issued 50 million ordinary shares of HK$1.00 each, Selene Diam Ltd. is equally owned by Ms. Yang Yaqin and Mr. Nileshkumar Popatbhai Chanchad. They are also directors of the subject. The former is a China businesswoman while the latter is an India merchant. Chanchad is an India passport holder and a Hong Kong ID holder and has got the right to reside in Hong Kong permanently.

Most of the time Ms. Yang Yaqin is in Shanghai, China.

The subject is a diamond trader. It has had an associated company Savuri Diamonds (Shanghai) Co. Ltd. [Savuri] which is a China-based company.

Savuri is engaged in procuring rough diamonds, manufacturing and exporting polished diamonds.

The subject also trades in the products of Savuri.

Chanchad is also a director of S. Goldi (Asia) Ltd. which is a Hong Kong-registered company.

Having issued 5 million ordinary shares of HK$1.00 each, S. Goldi (Asia) is wholly owned by Mr. Mansukhbhai Bhikhabhai Budheliya who is an Indian. He is a Hong Kong ID Card holder and has got the right to reside in Hong Kong permanently. M B Budheliya and Chanchad are the directors of S. Goldi (Asia). S. Goldi (Asia) has had a number of associated companies in China, India, Israel and the United States.

The subject has had an office in Shanghai, China. The marketing manager of the Shanghai Office Jim Shen can be reached at his China phone 86-21-5015 8338.

The sales manager of the subject Ms. Griselda Lam, a Hongkongnese, can be reached at her Hong Kong mobile phone number 852-6698 9111.

The history of the subject in Hong Kong is just over a year and four months.

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 63.94
UK Pound	1	Rs. 98.63
Euro	1	Rs. 69.85

INFORMATION DETAILS

Analysis Done by :	KRN
Report Prepared by :	DPT

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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