MIRA
INFORM REPORT
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Report Date : |
04.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
JEWEL TECH LTD. |
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Registered Office : |
Flat N, 1/F, Kaiser Estate, Phase 3, 11 Hok Yuen Street,
Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
21-8-1998 |
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Com. Reg. No.: |
652761 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturing & export of fine jewellery. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name & address
JEWEL TECH LTD.
FLAT N, 1/F, KAISER ESTATE, PHASE 3,
11 HOK YUEN STREET, HUNGHOM, KOWLOON,HONG KONG.
TEL : 852 21421801
FAX : 852 27741719
EXECUTIVE SUMMARY
INCORPORATION DATE :
21-8-1998
REGISTRATION NO. :
652761
REGISTERED LEGAL FORM : PRIVATE
LIMITED CO.
CHIEF EXECUTIVE : CHENG SIU MAN
(DIRECTOR)
STAFF STRENGTH :
15
AUTHORIZED CAPITAL :
HKD$10,000 = 10,000 SHARES @HKD$1.-
PAID-UP
CAPITAL : HKD $10
BUSINESS LINE :
MANUFACTURE & EXPORT OF FINE JEWELLERY
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION : STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.81458 = USD1 AS OF 2007-04-03
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.
652761 on 21-8-1998.
SC's shareholders & directors are shown to be as follows:
Shareholders (as at 21-8-2006) Number
of shares held
- Top Faith Consultants Ltd. 5
- Overseas Star Investment Ltd. 5
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10
==
Directors (as at 21-8-2006)
- Cheng Siu Man / E122655(3)
- Wong Gwon-Hing Edward / 111843547
The above registration information is based on SC's annual return filed
at Companies Registry within the last 2 years.
No material change or amendment regarding SC has been traced & noted
within last 2 years.
SC is a subsidiary of Top Faith Consultants Ltd., whose partial
information is as follows:
- Registered address: Rm 104-6, Tern
Centre, Tower II, 251 Queen's Road Central, HONG KONG.
- Business line: As an
investment holding co.
- Civil litigation & winding-up petition records: None in our database
Cheng Siu Man, director:
- In his mid 50's
- Embarked upon his career to present field as a small businessman in
his mid 20's
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Room 5, 32/F, Block B, Po Ming Centre,
Tseung Kwan O, N.T., 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
Wong Gwon-Hing Edward, director:
- She is by American nationality
- Embarked upon her career to present field as a small businesswoman in
her mid 20's
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: 431 Grandview Place, Fort Lee, N.J.
07024, USA.
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
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 12-8-2006 was NA.
Banking relations are maintained principally with:
- HSBC
- Bank of China
(HK) Ltd.
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 records 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: (X) see below ( ) see attached sheet
Date :
6-5-2005
Defendant(s) : SC
Plaintiff(s) : Scorpio Enterprices Co.Ltd.
Cause of claim : Goods sold & delivered
Claimed amount : HKD $418,483
Mortgage/charge record(s):
None filed within the last 2 years as per
our current search.
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.
Business categories:
SC is engaged in manufacturing & export of fine jewellery.
Items available include pendants, earrings, diamond bangles, bracelets,
necklaces, rings, other precious & semi-precious stones.
Production is assigned to its affiliated factory/joint venture
factory located at Guangdong Province,
PR China.
Principal
purchases :
Major
types of sourcing : Raw
materials & parts
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries : Europe, South Africa &
Australia
Buying terms :
L/C & T/T
Principal market :
Local--type
of customers : Nil
Selling
terms : Nil
Overseas--buying
countries : SE Asia, USA & Canada
Selling
terms : L/C &
T/T
Total number of employees : 15.
Location : Maintaining
its office & showroom at the heading business address at a commercial &
industrial building in an industrial & residential district.
Condition inside the premises during our
visit : Normal.
Office/factory layout : Standard.
SC is not known to have any subsidiary at present.
SC is considered a normally advancing concern with steady customers and
good base to meet its trade engagements.
Credit in the range of moderate amount can be considered.
-- 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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)