MIRA
INFORM REPORT
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Report Date : |
30.07.2007 |
IDENTIFICATION DETAILS
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Name : |
JEWELLERY RESOURCE (HK) LTD. |
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Registered Office : |
Room 9, 10/F, Fu Hang Industrial Bldg., |
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Country : |
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Date of Incorporation : |
22-8-2001 |
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Com. Reg. No.: |
767532 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturing & supply of jewellery products. |
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
JEWELLERY RESOURCE (HK) LTD.
RM 9, 10/F, FU HANG INDUSTRIAL BLDG.,
TEL : 852 22154848
FAX : 852 22154483
EXECUTIVE SUMMARY
INCORPORATION DATE :
REGISTRATION NO. :
767532
REGISTERED LEGAL FORM :
PRIVATE LIMITED CO.
CHIEF EXECUTIVE : HO KWOK KEI (DIRECTOR)
STAFF STRENGTH :
10 (SHARING WITH ITS AFFILIATE).
AUTHORIZED CAPITAL
: HKD$10,000 = 10,000 SHARES @ HKD$1.-
PAID-UP CAPITAL
: HKD$200
BUSINESS LINE :
MANUFACTURE & SUPPLY OF JEWELLERY
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
AVERAGE
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.81395 = USD1 AS OF
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD –
The correct address of SC is the heading one instead of "Flat 15,
17/F, Long Bldg.,
SC is a private limited company registered under incorporation file no.
767532 on
SC's shareholders & directors are shown to be as follows:
Shareholders (as at
- Leong Fok Lon 100
- Ho Kwok Kei 100
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200
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Directors (as at
- Ho Kwok Kei / E5979742
- Lau Fung Kwan / E6099800
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.
Ho Kwok Kei, director:
- In his late 40's & married
- He has over 10 years of experience in present field
- Also currently director of J.R. Jewellery Manufactory Ltd.
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Rm 129, 5/F,
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
Lau Fung Kwan, director:
- In her late 40's & married
Registered residential address: Same as Ho Kwok Kei.
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 : 60 (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, SC's principal(s) declined forwarding any
financial information on the ground that SC is a private venture whose data is
not required for public inspection.
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
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
Civil litigation/winding-up petitions : None in our database.
Mortgage/charge record(s) : None filed since its incorporation date.
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 : A trade enquiry currently
conducted with SC's supplier(s) reveal the following:
First Second
Type of supplies : Merchandise Accessories
Time known : 3 years 4
years
Selling terms : Net
30 days Net 30 days
Total purchases (last 6 months) : HKD$
Present balance : HKD$
Payment record : 3 3
Payment record keys : 1 = Prompt : Payment made
before the credit period expires
2
= As agreed terms : Payment made upon due
date
3
= Slightly slow but acceptable : Payment
made 5 to 20 days beyond agreed terms
4
= Slow : Payment made 16 to 45 days beyond
agreed terms
5
= Poor : Payment made over 45 days beyond
agreed terms
6 = Payment slowing down : Payment formerly prompt
but slowing down in recent months
7 = No comment : Account is newly opened &
record is not yet established
Note : In
some instances, payment beyond terms can be the result of disputes over
merchandise, lost invoices, disputed accounts & etc.
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 & supply of jewellery products.
Items available include pendants, bracelets, necklaces, rings, brooches
& bangles.
Production is assigned to its affiliated factory/joint venture factory ,
J.R. Jewellery Manufactory, located at
Principal purchases :
Major
types of sourcing : Raw materials,
diamond & accessories
Local--type
of suppliers : Special agreed
terms
Buying
terms : Nil
Overseas--supplying
countries :
Buying
terms : L/C
Principal market :
Local--type
of customers : Wholesalers, dealers
& exporters
Selling
terms : Special
agreed terms
Overseas--buying
countries : PR China,
Selling
terms : L/C
Total number of employees : 10
(sharing with its affiliate).
Location : Maintaining
its office & showroom at the heading business address which occupies a
gross area of 4,000 square feet at an industrial building in an industrial
district.
Condition inside the premises during our
visit :
Office/factory layout : Standard.
Property ownership : Current land search indicates the ownership details
of the captioned premises as follows:
- Owner(s) : Crystal Team Ltd.
- Date of purchase & consideration : 6-7-2006 / HKD$
- Date of mortgage & secured amount : 6-7-2006 / ANS
- Mortgagee : HSBC
Jointly occupying the premises with the below mentioned affiliate.
Affiliate(s):
Company name :
J.R. Jewellery Manufactory Ltd.
Year established : 2002
Business nature : Similar to SC
Address : Same as heading business
address
Turnover :
NA
Civil litigation & winding-up petition records: None in our database
SC is considered a normally advancing concern with steady customers and
good base to meet its trade engagements.
-- Asset Tracing --
Upon our current investigation, our database & sources consulted
indicate that SC was not involved in any property transaction (both purchase
& disposal) in
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%)