MIRA
INFORM REPORT
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Report Date : |
12.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
FAI PO GEM (HK) CO. LTD. |
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Registered Office : |
Unit 602-606, 6/F, Blk A, Focal Industrial Centre, 21 Man Lok St.,
Hunghom, Koloon, Hong Kong. |
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Country : |
Hong Kong |
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Date of Incorporation : |
03.01.1997 |
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Com. Reg. No.: |
585315 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged in manufacture & supply 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 : |
Regular |
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Litigation : |
Clear |
Company Name
FAI PO GEM (HK) CO. LTD.
UNIT 602-606, 6/F,
BLK A, FOCAL INDUSTRIAL CENTRE, 21 MAN LOK ST., HUNGHOM, KOLOON, HONG KONG.
TEL : 852 27744833
FAX : 852 23301553
EXECUTIVE SUMMARY
INCORPORATION DATE :
3-1-1997
REGISTRATION NO. :
585315
REGISTERED LEGAL FORM : PRIVATE LIMITED CO.
CHIEF EXECUTIVE : CHAN JACKY (GENERAL
MANAGER)
STAFF STRENGTH :
30
AUTHORIZED CAPITAL : HKD 10,000 = 10,000 SHARES @ HKD1.-
PAID-UP CAPITAL : HKD 2.-
BUSINESS LINE :
MANUFACTURE & 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 :
MODERATE AMOUNT
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.81294 = USD1 AS OF 2007-02-14
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
Your given name is not on the companies list in the Companies Registry
in Hong Kong.
Based on your given address, we believe that the heading one is your
search target.
SC is a private limited company registered under incorporation file no.
585315 on 3-1-1997.
SC's shareholders & directors are shown to be as follows:
Shareholders (as at 3-1-2007) Number
of shares held
Pearl Dynasty Ltd. 1
Joyce Field International Ltd. 1
--
2
==
Directors (as at 3-1-2007)
Pearl Dynasty Ltd.
Joyce Field International Ltd.
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.
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: 2003
Year(s) in which mortgage satisfaction record(s) are filed: 2006
Pearl Dynasty Ltd. & Joyce Field Int'L Ltd are the shareholders
& corporate directors of SC, whose partial information is as follows:
- Registered address: The Creque Bldg., P.O. Box 116, Road Town,
Tortola, British Virgin Islands.
- Business nature: Both
companies are offshore investment cos. with core interests in manufacturing
& supply of fine jewellery & gem stones.
- Civil litigation & winding-up petition records of the said
cos: None in our database.
Chan Jacky, general manager:
- In his late 40's & married
- Embarked upon his career to present field in his mid 20's
- Also currently director of Fai Po Gems Manufacturing Co. Ltd.
Currently active in SC's day-to-day operations & is responsible for
its management.
Chow Susanna, executive officer:
- In her mid 40's
- Embarked upon her career to present field in her mid 20's
Currently active in SC's day-to-day operations & is responsible for
its management.
Appraisal is not given as available information regarding the
principal(s) is insufficient for assessment.
Business categories :
SC is engaged in manufacture & supply of fine jewellery.
Items available include 14K & 18K gold jewellery sets, silversets,
diamond rings, gemstone rings, precious & semi-precious stones.
Production is assigned to its affiliated factories in Shanwei, Lufeng,
Punyu & Foshan in Guangdong Province, PR China (total workforce: 2,000)
Principal purchases :
Major
types of sourcing : Raw
materials
Local--type
of suppliers : Importers
Buying
terms : COD
& credit of 30 days
Overseas--supplying
countries : PR China, SE Asia &
Middle East
Buying
terms : L/C
& T/T
Principal market :
Local--type
of customers : Wholesalers &
retailers
Selling
terms : COD &
credit of 30 days
Overseas--buying
countries : USA, Europe (mainly Italy
& UK) & Asian countries (mainly Japan, Taiwan & S.Korea)
Selling
terms : L/C &
T/T
Total number of employees : 30.
Location : Maintaining
its office & showroom at the heading business address which occupies a
gross area of 6,000 square feet at an industrial building in an industrial
district.
Condition inside the premises during our
visit : Normal.
Office/factory layout : Standard.
Jointly occupying the premises with the below mentioned affiliates.
Affiliate(s):
Company name :
Fai Po Jewellery (H.K.) Co.Ltd.
Year established : 1997
Business nature :
Similar to SC
Address :
Same as heading business address
Turnover :
NA
Civil litigation & winding-up petition records : None in our database
Affiliate(s):
Company name :
Fai Po Gems Manufacturing Co.Ltd.
Year established : 1991
Business nature :
Similar to SC
Address :
Same as heading business address
Turnover :
NA
Civil litigation & winding-up petition records : None in our database
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
- Industrial & Commercial Bank of China (Asia) Ltd.
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 3-1-2005 was NA.
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.
NOTES:
Current land search indicates that SC owns the following premises:
- Address: Unit 8, 5/F, Focal Industrial Centre, Block A, 21 Man Lok
Street, Tokwawan, Kowloon, Hong Kong.
- Owner(s): SC
- Date of purchase & consideration: 13-1-2003 / HKD1.38M
- Date of mortgage & secured amount: 13-1-2003 / ANS
- Mortgagee: Industrial & Commercial Bank of China (Asia) Ltd.
Current land search indicates that Fai Po Jewellery (H.K.) Co., Ltd.,
SC's affiliate, owns the following premises:
- Address: Rm B, 23/F, Tower 1,
Harbourfront Landmark, 11 Wan Hoi St., Hunghom, Kowloon, Hong Kong.
- Owner(s): The said co.
- Date of purchase & consideration:
21-8-2002 / HKD16.63M
- Date of mortgage & secured amount: 21-8-2002 / ANS
- Mortgagee: Bank of China (HK)
Ltd.
Partial registration information regarding Fai Po Gems Manufacturing Co.
Ltd. is as follows:
Date of incorporation: 27-6-1991
Authorized capital: HKD5M divided into 5M shares @ HKD1.-
Paid-up capital: HKD5M
Shareholders (as at 27-6-2006) Number
of shares held
Dragon Access Ltd. 2,000,000
Chan Wing Fai 1,000,000
Lam Wai Ling 1,000,000
Chen Shen 1,000,000
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5,000,000
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Directors (as at 27-6-2006)
Chan Wing Fai
Lam Wai Ling
Chen Sheung
Partial registration information regarding Fai Po Jewellery (H.K.)
Co.Ltd. is as follows:
Date of incorporation: 3-1-1997
Authorized capital: HKD10,000 divided into 10,000 shares @ HKD1.-
Paid-up capital: HKD2.-
Shareholders (as at 3-1-2005) Number
of shares held
Pearl Dynasty Ltd. 1
Jeyce Field International Ltd. 1
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2
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Directors (as at 3-1-2005)
Pearl Dynasty Ltd.
Joyce Field International Ltd.
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%)