MIRA INFORM REPORT

Report No. :	507612
Report Date :	10.05.2018

IDENTIFICATION DETAILS

Name :	KISMET DIAMONDS (PTY) LTD
Registered Office :	5.A Jewellery Center 3Rd Floor Suite 308F Johannesburg Gauteng 2094
Country :	South Africa
Date of Incorporation :	14.11.2012
Com. Reg. No.:	2012/203351/07
Legal Form :	Private Company
Line of Business :	The subject operates as a wholesale and retail supply of loose diamonds.
No. of Employees :	20

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Satisfactory
Payment Behaviour :	Slow but Correct
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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
South Africa	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

SOUTH AFRICA - ECONOMIC OVERVIEW

South Africa is a middle-income emerging market with an abundant supply of natural resources; well-developed financial, legal, communications, energy, and transport sectors; and a stock exchange that is Africa’s largest and among the top 20 in the world.

Economic growth has decelerated in recent years, slowing to an estimated 0.7% in 2017. Unemployment, poverty, and inequality - among the highest in the world - remain a challenge. Official unemployment is roughly 27% of the workforce, and runs significantly higher among black youth. Even though the country's modern infrastructure supports a relatively efficient distribution of goods to major urban centers throughout the region, unstable electricity supplies retard growth. Eskom, the state-run power company, is building three new power stations and is installing new power demand management programs to improve power grid reliability but has been plagued with accusations of mismanagement and corruption and faces an increasingly high debt burden.

South Africa's economic policy has focused on controlling inflation while empowering a broader economic base; however, the country faces structural constraints that also limit economic growth, such as skills shortages, declining global competitiveness, and frequent work stoppages due to strike action. The government faces growing pressure from urban constituencies to improve the delivery of basic services to low-income areas, to increase job growth, and to provide university level-education at affordable prices. Political infighting among South Africa’s ruling party and the volatility of the rand risks economic growth. International investors are concerned about the country’s long-term economic stability; in late 2016, most major international credit ratings agencies downgraded South Africa’s international debt to junk bond status.

Source : CIA

Executive Summary

The subject has a short track record. No judgments recorded against the subject. Accounts are paid on due date. The subject is considered equal to its normal business engagements. The lack of financial information should be borne in mind.

COMPANY INFORMATION

OVERVIEW

History KISMET DIAMONDS (PTY) LTD was registered in November 2012, and remained dormant due to the process of setting up and only commenced operations in February 2013.

STATUTORY INFORMATION

Registered Name	KISMET DIAMONDS (PTY) LTD
Registration Number	2012/203351/07
Type Of Company	Private Company
Registered Date	14/11/2012
Date Commenced Trading	02/2013
Commercial Status	In Business
Financial Year End	February

CONTACT DETAILS

Contact Number	+27 11 025 9982
Email Address	Kismetdiamond@gmail.com
Website	The subject does not have a website address.
Social Media Presence	The subject does not have a social media presence.
Registered Physical Address	5.A Jewellery Center 3Rd Floor Suite 308F Johannesburg Gauteng South Africa 2094
Trading Physical Address	Suite N1; Paragon 2; 1 Kramer Road Bedfordview Johannesburg Gauteng South Africa 2007
Postal Address	Suite N1; Paragon 2; 1 Kramer Road Bedfordview Johannesburg Gauteng South Africa 2007

TAX INFORMATION

TAX INFORMATION

Income Tax Number 9045181238

VAT INFORMATION

VAT Status The subject is registered for VAT (VAT number/s made available)

VAT Number	4050262452
Status	Active
Registered Name	KISMET DIAMONDS (PTY) LTD

OFFICERS AND PROFESSIONAL SERVICES

LIST OF OFFICERS AND PROFESSIONAL SERVICES

Type	Name	Contact Name	Contact Number
Insurance	Nedbank Insurance Brokers		+27860104526
Auditor	Lutrin And Associates	Milton Lutrin

OWNERSHIP STRUCTURE

SHAREHOLDING INFORMATION

CURRENT

Shareholder/Member Name	Share/Interest	Type	Comment
Roshan Jasvintlal Daya	100%	Shareholder

PRINCIPAL INFORMATION

Director / Member

Full Name	ID No.	Type	Status	DOA	Active Interests	Previous Interests	Judgments	Fraud Listing
Roshan Jasvintlal Daya	7601235165089	Director	Active	14/11/2012	3	0	0	0
Sureshkumar Dhanjibhai Patel	Z3552755	Director	Resigned	14/11/2016	2	0	0	0

ACTIVE BUSINESS INTERESTS: Roshan Jasvintlal Daya

Company Name	Registration No.	Business Status	Principal Status	Principal Type	Judgments
Krishna Diamonds	2008/227674/23	In Business	Active	Member	0
D And K Diamonds	2017/026972/07	In Business	Active	Director	0
Shahad Diamonds	2015/035508/07	AR Deregistration Process	Active	Director	0

Management

No principals found for this principal type.

Officer

No principals found for this principal type.

Other

No principals found for this principal type.

BANK ACCOUNT INFORMATION

BANK ACCOUNTS

Account Reference Number	Account Holder	Account Number	Bank Name	Branch Name	Branch Code	Verification Status
ABB147272	KISMET DIAMONDS (PTY) LTD	1037778685	Nedbank (South Africa)	Central Exchange	198765	Verified by Document

OPERATIONAL ACTIVITIES

Operational Activities Status	The following information was provided
Industry	Wholesale & Retail
Major Industry SIC Code	46692 - Wholesale trade in diamonds, pearls and other precious and semi-precious stones
Secondary Industry SIC Code(s)	Other retail sale in specialised stores
NACE Code	46,7 - Other specialised wholesale

MAJOR OPERATION

Major Business Activities	The subject operates as a wholesale and retail supply of loose diamonds.
Foreign Trade Activities	International
Agencies Held	Subject holds no agencies.
Franchises Held	The subject holds no franchises.
Major Suppliers	• Flawless Diamonds • Cs Diamonds • Saidex
Major Customers	• Jewellers • The General Public
Major Brands	Subject does not have any brands.
Major Contracts	Subject does not operate on a contract basis.

IMPORT ACTIVITIES

Subject imports.

Imports From To the value of

India

EXPORT ACTIVITIES

Subject exports

Exports To	To the value of
India United Arab Emirates Hong Kong Israel Belgium

OPERATIONAL FOOTPRINT

Operational Footprint Status The following information was provided

BRANCH & PREMISES INFORMATION

Location	Description/Type	Size (m^2)	# of Staff	Rented or Owned	Lease Expiry Date
Bedfordview	• Showroom • Office		20	Leased	N/A
Rosebank	• Office • Showroom				N/A

EMPLOYEES

Permanent Employees	20
Salaried Employees	20

COMPANY FLEET

Total Vehicles 2

The fleet is made up of:

Cars / SUV's 2 Owned

FINANCING TERMS

FINANCING TERMS

Sales Terms	COD
Overdraft Facility	The Subject does not have an overdraft facility
Sureties	The Principals have signed sureties
Debtors Ceded	Debtors have not been ceded.
Debtors Factored	Debtors have not been factored.
Bonds	The Subject has bonds.

FINANCIAL FIGURES

GENERAL COMMENTS

General Comments Financial figures were declined.

TRADE REFERENCES

TRADE REFERENCES

Trade Reference	Date	Trade Score	Terms Given (Taken) in days	Monthly Limit Given (Taken)	Account Opened	Payment Trend (prev. 3 years)		Account Insured	Notes
TR18050472	04/05/2018	Neutral	30 Days (30 Days)	Open Account (500,000) (ZAR)	2014	75%		No	This is a good account
TR18050471	04/05/2018	Neutral	7 Days (7 Days)	Open Account (300,000) (ZAR)	2013	75%		No	This is a good account.
TR17082527	25/08/2017	N/A					100%		Number rings unanswered
LTR16060351	03/06/2016	Neutral	30 Days (30 Days)	Confidential (3,000,000) (ZAR)			50%		This is a good account.
LTR16060320	03/06/2016	Neutral	30 Days (30 Days)	Confidential (5,000,000) (ZAR)	2014		50%		This is a good account.

TRADE REFERENCE ANALYTICS

Number of valid Trade References	7
Overall Trade Score	71%
Average Usage of Terms	100%
Average Monthly Purchase	2,966,667 ZAR
Average Usage of Credit Limit	0%

COURT NOTICES

No judgments on file in the name of the subject

No liquidation applications on file in the name of the subject

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 67.38
UK Pound	1	INR 91.09
Euro	1	INR 79.75
ZAR	1	INR 5.41

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	PRI
Report Prepared by :	TRU

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.