MIRA
INFORM REPORT
|
Report Date : |
12.04.2007 |
IDENTIFICATION
DETAILS
|
Name : |
KINGS MARK DESIGNER AND MANUFACTORY LTD. |
|
|
|
|
Registered Office : |
Rm 207-8, 2/F, Hilder Centre, 2 Sung Ping St., Hunghom,
Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
2-5-1986 |
|
|
|
|
Com. Reg. No.: |
168568 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturing of jewellery. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
name & address
KINGS MARK DESIGNER AND MANUFACTORY LTD.
RM 207-8, 2/F, HILDER CENTRE,
2 SUNG PING ST., HUNGHOM, KOWLOON, HONG KONG.
TEL: 852 27647387
FAX: 852 27646499
EXECUTIVE SUMMARY
INCORPORATION DATE :
2-5-1986
REGISTRATION NO. :
168568
REGISTERED LEGAL FORM : PRIVATE
LIMITED CO
CHIEF EXECUTIVE : MA SHUK KUEN OLIVIA (DIRECTOR)
STAFF STRENGTH :
50
AUTHORIZED CAPITAL : HK$1M = 1M SHARES @ HK$1.-
PAID-UP
CAPITAL : HK$280,000
BUSINESS LINE :
MANUFACTURE OF JEWELLERY
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
NORMAL
RECOMM. CREDIT RANGE : FAIRLY
LARGE AMOUNT
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.81469 = USD1 AS OF 2007-4-12
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.
168568 on 2-5-1986.
SC's shareholders & directors are shown to be as follows:
Shareholders (as at 2-5-2006) Number
of shares held
- Carlingford Corporate Services Ltd. 279,999
- Rightful Nominees Ltd. 1
---------
280,000
======
Directors (as at 2-5-2006)
- Ma Shuk Kuen Olivia / G663536(8)
- Ma Suk Fan / G610346(3)
The above registration information is based on SC's annual return filed at
Companies Registry within the last 2 years.
Our current search revealed certain material change or amendment of SC
has been recorded within the last 2 years & noted as follows:
Partial change in SC's directorship as follows:
Name(s) of resigned director(s) Resignation
date
Rightful Nominees Ltd. 25-7-2006
Name(s) of newly appointed director(s) Appointment
date
Nil Nil
Total number of employees : 50.
Location : Maintaining
its office at the heading business address which occupies a gross area of 90,000
square feet at a commercial building in an industrial district.
Condition inside the premises during our
visit : Normal.
Office/factory layout : Standard.
SC is a subsidiary of Calingford Corporate Services Ltd. whose partial
information is as follows:
Year established : 2001
Registered/business
address : Office A, 18/F, Crawford Tower,
99-101 Jervois St., Central, HK.
Business line : Upon our current search,
the said co. is a co. secretarial servicing co. whom it
represents is not known.
No. of employees : NA
Civil litigation & winding-up petition : None in our database
Turnover :
NA
Ma Shuk Kuen Olivia, director:
- In her late 40's & married
- Embarked upon her career to present field as an executive trainee in
her late 20's
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Flat J, 15/F, Blk 8, Rhythm Garden, 242
Choi Hung Rd., Kowloon, HK.
Property ownership: Current land search indicates the said premises
ownership as follows:
- Owner(s) : Ma Shuk Kuen Olivia & Ma Suk Fan
- Date of purchase & consideration : 12-12-2000 / HK$1,703,800
- Date of mortgage & secured amount : 12-12-2000 / HK$1,618,610
- Mortgagee : Hang Seng Finance Ltd.
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 Suk Fan, director:
- In her mid late 40's
- Embarked upon her career to present field in her early 30's
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Same as Ma Shuk Kuen Olivia.
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 : 3 Obtained scores : 58 (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.
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 2-5-2006 was ANS.
Banking relations are maintained principally with:
- Industrial & Commercial Bank of China (Asia) Ltd.
- DBS Bank (HK) Ltd.
- HSBC
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 :
19-9-2001
Defendant(s) : SC
Plaintiff(s) : Apollo Water Heater Ltd.
Cause of claim : Dishonoured cheque
Claimed amount : ANS
Mortgage/charge record(s) : (X) see below ( ) see per attached
Creation date : 17-5-2006
Charger(s) :
SC
Chargee(s) :
DBS Bank (HK) Ltd.
Secured amount : ANS
Charge particulars : Charge on cash deposits
Creation date : 21-6-2006
Charger(s) :
SC
Chargee(s) :
HSBC
Secured amount : ANS
Charge particulars : Security over deposits
(Deposit: $2M)
Creation date : 16-6-2006
Charger(s) :
SC
Chargee(s) :
HSBC
Secured amount : ANS
Charge particulars : Mortgage (Flat F,
8/F, Blk B & Carparking Space No. 8, G/F, Alice Court, Broadcast Drive,
Kowloon, HK.)
Mortgage Index:
Year(s) in which mortgage registration(s) are filed: 1986, 1990, 1992,
1993, 2000, 2002, 2004, 2005, 2006
Year(s) in which mortgage satisfaction record(s) are filed: 1991, 1993,
2005, 2006
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 of jewellery.
SC is also engaged in the provision of jewellery design service.
Items available include 18K & 14K fine jewellery set with
semi-precious jewellery, precious jewellery, gem stone, white or yellow gold.
Production is assigned to its affiliated factory/joint venture factory,
Shenzhen Baohang Kings Mark Jewellery Processing Mfy., located at Unit C &
D, 9/F, Gold & Jewellery Building, Shenyan Road, Yantian District,
Shenzhen, Guangdong Province, PR China.
- Workforce: 500
- Floor size: 300,000 sq.ft.
Principal purchases :
Major
types of sourcing :
Merchandise, parts & accessories
Local--type
of suppliers : Distributors
Buying
terms : COD
& credit of 15 to 30 days
Overseas--supplying
countries : SE Asia, USA & Europe
Buying
terms : L/C
& T/T
Principal market :
Local--type
of customers : Nil
Selling
terms : Nil
Overseas--buying
countries : PR China, SE Asia, USA
(mainly), Europe & South America
Selling
terms : L/C &
T/T
No significant events or changes were found during our
checks with the local AIC.
From all indications, SC is believed to have
made a steady and successful trend of development. Credit in the range of moderate to fairly large amount can be
considered.
NOTES:
Current land search indicates that SC owns the following premises:
- Address: Rm 1103, 11/F, Guardforce Centre, 3 Hok Yuen Street East,
Hunghom, Kowloon, HK.
- Owner(s): SC
- Date of purchase & consideration: 7-1-2000 / HK$1.65M
- Date of mortgage & secured amount: 17-1-2000 / ANS
- Mortgagee: Industrial & Commercial Bank (Asia) Ltd.
- Address: Flat F, 18/F, Blk B
& Carparking Space No. 8, G/F, Alice Court, 43 Broadcast Drive, Kowloon,
HK.
- Owner(s): SC
- Date of purchase & consideration:
NA
- Date of mortgage & secured amount: 16-6-2006 / ANS
- Mortgagee: HSBC
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 |
|
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%)