MIRA
INFORM REPORT
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Report Date : |
16.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
CLASSIC OPAL COMPANY |
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Registered Office : |
Rm 1104, 11/F, Blk B, Hunghom Commercial Centre, 37 Ma Tau
Wai Road, Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
12-6-1994 |
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Com. Reg. No.: |
18204397 |
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Legal Form : |
Partnership |
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Line of Business : |
Manufacturing & trading of 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 |
name & address
CLASSIC OPAL COMPANY
RM 1104, 11/F, BLK B, HUNGHOM COMMERCIAL CENTRE,
37 MA TAU WAI ROAD, HUNGHOM, KOWLOON, HONG KONG
TEL : 852 23689595
FAX : 852 23689644
EXECUTIVE SUMMARY
INCORPORATION DATE :
12-6-1994
REGISTRATION NO. :
18204397
REGISTERED LEGAL FORM :
PARTNERSHIP
CHIEF EXECUTIVE : CHENG MING LOI (PARTNER)
STAFF STRENGTH :
10
AUTHORIZED CAPITAL : [IN HK, UNLIMITED COS. ARE NOT REQUIRED TO FILE ITS
CAPITAL
PARTICULARS TO BR OFFICE (THE INLAND REVENUE)]
PAID-UP
CAPITAL : NOT
APPLICABLE
BUSINESS LINE :
MANUFACTURE & TRADING OF 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 7.81317 = USD1 AS OF 2007-04-16
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
Upon current search for a Business Registration copy of your given name
(Classi Co.), Business Registration office replied it has no record of SC.
Based on your given address, we believe that your search target is
Classic Opal Company and SC was formerly operated at your given address.
SC was established under Business Registration number 18204397 on
12-6-1994 with present status as partnership.
Currently obtained BR copy indicate the particulars of SC's principal(s)
are as follows:
Name(s) of principal(s) & ID/Passport
number(s) Registered
address
- Cheng Ming Loi / E394029(6) Flat
A, 6/F, Princess Terrace,
21
Man Fuk Road,Waterloo Road Hill,
Kowloon,
HK.
- Cheng Chan Man Chi / G102970(2) -- ditto --
Certain material change or amendment regarding SC within the last 4
years has been traced & noted as follows:
Change of business address : SC moved to the heading business address
from 14/F, Hiranand House, 1-3 Mody Road, Tsimshatsui, Kowloon, HK on
8-12-2006.
SC also trades under business name "Classic Jewelry Co." at
the heading address.
Total number of employees : 10.
Location : Maintaining
its office at the heading business address which occupies a gross area of 2,000
square feet at a commercial building in a commercial district.
Condition inside the premises during our
visit : Normal.
Office/factory layout : Standard.
Reportedly, SC also maintains its affiliated office located in Thailand.
Cheng Ming Loi, partner:
- In his mid 50's
- He has 20 years of experience in present field
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: As stated above.
Property ownership: Current land search indicates the said premises
ownership as follows:
- Owner(s) : Lo Hung Ling
- Date of purchase & consideration : 13-10-2004 / HK$4.1M
- Date of mortgage & secured amount : 13-10-2004 / ANS
- Mortgagee : Hang Seng Bank Ltd.
Credit history
check : This refers to a check of our
database whether the said person has been involved in any of
the following
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
Cheng Chan Man Chi, partner:
- In her late 40's & married
- She has 20 years of experience in present field
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Same as Cheng Ming Lai.
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.
Upon a current contact, Ms. Lam, SC's administrator, declined forwarding
any financial information on the ground that it is the company's policy not
releasing any data to a third party without the benefit of knowing the identity
of the inquiring party.
Banking relations are maintained principally with: 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 : None in our database.
Mortgage/charge record(s) : In HK, unlimited companies are not required
to file its charge particulars for public inspection.
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 & trading of jewellery.
Items available include opal silver jewellery, opal fine jewellery,
coloured stones, precious & semi-precious stones.
Production is assigned to its affiliated factory/joint venture
factory located at 3/F, 37 Jiejin 2nd
Road, Shiqiao, Panyu, Guangdong Province, PR China.
Principal market :
Local--type
of customers : Wholesalers &
retailers
Selling
terms : COD &
credit of 45 to 60 days
Overseas--buying
countries : Japan, SE Asia, USA, Europe
& Australia
Selling
terms : L/C
SC is
not known to have any subsidiary at present.
SC appears to have experienced normal growth in recent 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%)