MIRA
INFORM REPORT
|
Report Date : |
28th
November, 2006 |
IDENTIFICATION
DETAILS
|
Name : |
LEE
HENG DIAMOND CO. LTD. |
|
|
|
|
Registered Office : |
6/F, Sino Plaza, 256 Gloucester Road,
Causeway Bay, Hong Kong. |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
08.02.1977 |
|
|
|
|
Com. Reg. No.: |
51535 |
|
|
|
|
Legal Form : |
Private
Limited Company |
|
|
|
|
Line of Business : |
Engaged in supply of fine jewellery. |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular
|
|
|
|
|
Litigation : |
Clear |
Company name & Address
LEE HENG DIAMOND CO. LTD.
6/F, SINO PLAZA, 256 GLOUCESTER ROAD,
CAUSEWAY BAY, HONG KONG.
TEL : 852 25261167
FAX : 852 28680170
EXECUTIVE SUMMARY
INCORPORATION DATE :
8-2-1977
REGISTRATION NO. :
51535
REGISTERED LEGAL FORM : PRIVATE LIMITED CO.
CHIEF EXECUTIVE : MA CHARN YUI MICHAEL (DIRECTOR)
STAFF STRENGTH :
1,000 (GROUP).
AUTHORIZED
CAPITAL : HKD 120M = 240,000
SHARES @ HKD500.-
PAID-UP
CAPITAL : HKD 120M
BUSINESS LINE :
SUPPLY OF FINE JEWELLERY
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
FAIRLY LARGE AMOUNT
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.77588 = USD1 AS OF 2006-11-28
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD – Hong Kong Dollars
SC is a private limited company registered under
incorporation file no. 51535 on 8-2-1977.
SC's shareholders & directors are shown to be
as follows:
Shareholders (as
at 7-7-2006) Number
of shares held
Lee Heng Jewellery
Group of Companies Ltd. 240,000
======
Directors (as at 8-2-2006)
Ma Charn Yui Michael / A749507(5)
Ma Yung Kit / D126194(1)
Ma Yung Yi / D119483(7)
Chan Mee Ngan Anna / A902252(2)
Ma Chun Wai Franklin / D822101(5)
Ho Man Kwong / E481905(9)
Cheng Tak Wai David / G410810(7)
The above registration information is based on SC's
annual return filed at Companies Registry within the last 2 years.
Our current search reveals certain material change
or amendment of SC has been recorded within the last 2 years & noted as
follows:
Change
in capital : Authorised capital
was increased from HKD7M to the present amount on 7-7-2006 with the creation of
226,000 shares of HKD500.-.
Paid-up capital: HKD120M.
Shares transfers :
Date No. of shares Transferor(s) Transferee(s)
23-3-2005 1,500 Fensmark Ltd. Lee
Heng Jewellery Group of
Companies
Ltd.
23-3-2005 1,500 Lee Heng Holdings AEC -- ditto --
SC was founded in the 1940's by a Ma Family who
moved from Thailand to Hong Kong. SC
was initially engaged in re-export of diamond & stones to SE Asia. In
1980's, SC extended the business to diamond wholesale, jewellery manufacturing
and retail under the trade name "Ma Belle".
Note:
-----
The correct street name in SC's address is the
heading one instead of the name given by you.
This section will contain the civil litigations
& winding-up petitions filed against SC for the last 6 years (as stored in
our database), and the mortgage/charge filed by SC for the last 2 years. In Hong Kong, creation of such
mortgages/charges by an unlimited co is not required to be registered in the
public records.
Civil
litigation/winding-up petitions : None
in our database.
Mortgage/charge
record(s) : None filed within
the last 2 years as per our current search.
Mortgage Index:
Year(s) in which mortgage registration(s) are
filed: 1981, 1988, 1989
Year(s) in which mortgage satisfaction record(s)
are filed: 1986, 1993
SC is a subsidiary of Lee Heng Jewellery Group of
Companies Ltd. whose partial information is as follows:
Year established : 1995
Registered/business
address : Same
as heading business address
Business line :
As a holding co. with core interests in manufacturing &
trading of jewellery; and trading of
diamond.
No. of employees : 1,000 (group)
Civil litigation & winding-up petition records : None in our database
Turnover :
NA
Ma Charn Yui Michael, director:
- In his 60's
- Began his career in 1966
- Also currently director of MaBelle Jewellery Co.
Ltd.
Currently active in SC's day-to-day operations
& is responsible for its management.
Registered residential address: House A, 66 Deep
Water Bay Road, Hong Kong.
Credit
history check : This refers to a check
of our database whether the said person has been involved in any of the
following records stored by us within the last 6 years:
Civil litigation
as defendants : None in our database
Bankruptcy/winding-up
petitions : None in our database
Delinquent payment
records : None in our database
Debt collection records : No overdue amount owed by the said person was
placed to us for collection
Ma Yung Kit, director:
- In his mid 40's
- Embarked upon his career to present field in his
mid 20's
- He graduated from Boston University B.A., USA in
Business Administration
- Also currently chairman of MaBelle Jewellery Co.
Ltd.
Currently active in SC's day-to-day operations
& is responsible for its management.
Registered residential address: House E, 66 Deep
Water Bay Road, Hong Kong.
Credit
history check : This refers to a check
of our database whether the said person has been involved in any of the following
records stored by us within the last 6 years:
Civil litigation
as defendants : None in our database
Bankruptcy/winding-up
petitions : None in our database
Delinquent payment
records : None in our database
Debt collection records : No overdue amount owed by the said person was
placed to us for collection
Ownership background appraisal:
Rating : 2 Obtained scores : 70 (see explanatory notes below)
Keys :
1 : scores 81-100 : Excellent
2 : scores 61-80 : Good
3 : scores 46-60 : Average
4 : scores 21-45 : Fair
5 : scores 01-20 : Poor
The rating indicates the personal financial &
operational strength of SC's major principals.
It is calculated from a composite of scores obtained from the following
5 factors which carry equal weight in our analysis:
Personal financial strength, credit history &
trade reputation, business experience & track record, market connection and
management skill.
Business categories :
SC is engaged in supply of fine jewellery.
Items available include diamond, gemstones & jade.
Production is assigned to its affiliated factory in
PR China.
Principal purchases :
Major types of sourcing :
Raw materials
Local--type of suppliers :
Importers
Buying terms :
COD & credit of 30 to 60 days
Overseas--supplying countries :
USA, Belgium, India, Israel & PR China
Buying terms :
L/C, D/P & T/T
Principal market :
Local--type of customers :
Wholesalers & retailers
Selling terms :
COD & credit of 30 days
Overseas--buying countries : PR
China, SE Asia, Europe & USA
Selling terms :
L/C, D/P & T/T
Total number of
employees : 1,000 (group).
Location : Maintaining its office at the heading business
address which occupies a gross area of 20,000 square feet at a commercial
building in a commercial district.
Condition inside
the premises during our visit : Normal.
Office/factory
layout : Standard.
Affiliate(s):
Company name :
MaBelle Jewellery Co. Ltd. *
Year established : 1992
Business
nature : Same as heading business
address
Address : NA
Turnover :
Retail of jewellery
Civil litigation & winding-up petition records:
ANS
* The said co. maintains 46 retail shops in Hong Kong.
Overall payment appraisal :
( )
Excellent ( ) Good
(X) Average ( ) Fair
( ) Poor (
) Not yet determined
The appraisal serves as a reference to reveal SC's
payments habits and ability to pay. It
is based on the 3 weighed factors:
Trade payment experience (through current enquiry with SC's suppliers),
our delinquent payment records and our debt collection record concerning SC.
Trade
payment experience : SC did not
provide any name of trade/service suppliers and we have no other sources to
conduct the enquiry at present.
Delinquent payment record : None
in our database.
Debt collection record : No
overdue amount owed by SC was placed to us for collection within the last 6
years.
Banking relations are maintained principally with:
HSBC.
During
our report preparation, the principals could not be contacted while the staff
members hesitated to release financial information without the principals'
consent.
As per current co. search, total amount of
indebtedness of SC in respect of all mortgages and charges which are required
to be registered with Companies Registry as at 8-2-2006 was nil.
SC is considered an old-established business with
acceptable financial base to meet fairly large amount of credit dealings.
-- Asset Tracing --
Upon our current investigation, our database &
sources consulted indicate that SC was not involved in any property transaction
(both purchase & disposal) in Hong Kong for the last 6 years.
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|