MIRA
INFORM REPORT
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Report Date : |
12.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
LEE HENG DIAMOND
CO. LTD. |
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Registered Office : |
6/F, Sino Plaza, 256 Gloucester Road, Causeway Bay |
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Country : |
Hong Kong |
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Date of Incorporation : |
08.02.1977 |
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Com. Reg. No.: |
51535 |
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Legal Form : |
Private Limited
Company |
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Line of Business : |
Engaged in supply of fine jewellery. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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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
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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:
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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
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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%)