MIRA
INFORM REPORT
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Report Date : |
09.08.2007 |
IDENTIFICATION DETAILS
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Name : |
RICHFINE DEVELOPMENT LTD |
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Trading As : |
KENG FAI JEWELLERY |
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Registered Office : |
Rm 503, 5fl Chao's Bldg 143-145 Bonham Strand |
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Country : |
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Date of Incorporation : |
May 2, 1994 |
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Com. Reg. No.: |
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Legal Form : |
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Line of Business : |
Distribution of a wide range of jewelry items. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small Company |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name & address
RICHFINE DEVELOPMENT LTD
RM 503, 5FL CHAO'S BLDG 143-145 BONHAM STRAND
TEL : [+852] 28150695
FAX : [+852] 25443970
EXECUTIVE SUMMARY
INCORPORATION DATE :
MAY 2, 1994
CHIEF EXECUTIVE :
MR. FONG-FAI CHENG (COMPANY DIRECTOR)
STAFF STRENGTH :
2
CAPITAL :
US$ 1,279
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
MARKET CONDITION :
FAIR
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.82873 = USD1 AS OF 2007-8-7
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M – million
HKD –
Note: KENG FAI JEWELLERY is SC’s trading name.
*Capital Details*
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Share value
: HKD 1.00/-each
Authorized capital :
HKD 10,000.00 divided into 10,000 ordinary shares
Paid-up capital
: HKD 2.00 divided into 2 ordinary shares
*Company Registration*
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(1)
License number :
313038
Date issued :
2 May, 1994
Issuing authority :
Companies Registry
Type of license :
Corporate
(2)
License number :
14716518-001
Date issued :
N/A
Issuing authority :
Business Registration Office - Inland Revenue Dept
Type of license :
Business
*Trading Name*
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Although the company is legally registered by the name listed
above, it is commonly known as KENG FAI JEWELLERY under which it operates
locally.
*Reputation*
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Reference checking for the purpose of establishing the
firm's reputation within the respective industry failed to reveal any negative
information.
*Approved Signatures*
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Mr. Keng-fai Chiang can sign on behalf of the company with
seal affixed.
*Company Secretary*
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EARNLINK MANAGEMENT LTD
C.R. number : 242393
Address : Rm 2202, 22Fl Sing Pao Bldg 101 King's Rd
SC
is not known to host website of its own at present
E-mail : kengfai_jewellery@yahoo.com.hk
For the past 13 years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders : 2
Total number of ordinary shares : 2
Shareholders' Name
No. of Ordinary Shares Amount
of Shares (HKD) % of Shares
-------------------------- ------------------------------- --------------------------------- ----------------
Fong-fai Cheng 1 1.00 50.00
Keng-fai Chiang 1
1.00 50.00
*Director's Details*
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(1)
Fong-fai Cheng
National ID number :
D491963(8)
Address
: 5Fl Front Portion 164 Queen's Rd
(2)
Keng-fai Chiang
National ID number :
D818094(7)
Address
: 5Fl Front Portion 164 Queen's Rd
*Main Products & Services*
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Specializes in the distribution of a wide range of jewelry
items.
Products : Diamond jewelry
Jade
jewelry
Jewelry
*Payment Terms*
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Sales
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Local : Cash or
credit
Purchases
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Local : Cash or
credit
*Exhibition Participation*
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Exhibition fair :
Hong Kong Int'l Jewelry Manufacturers Exhibition
Dates attended :
6-9 March, 2000
Location :
Hongkong Convention & Exhibition Centre
*Local Distribution Network*
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100% of the annual turnover is attributed to local
sales.
*Export Markets*
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There is no record of export since the prime focus of the
firm's activity is concentrated on local sales only.
SC is not known to
have any subsidiary at present.
PAYMENT RATING : 3 OBTAINED SCORES : 50
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Implication |
Implications |
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1 |
Scores 85–100 |
Excellent |
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2 |
Scores 75 – 84 |
Above Average |
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3 |
Scores 50 – 74 |
Average |
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4 |
Scores 35 – 49 |
Fair |
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5 |
Scores 15 – 34 |
Below Average |
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6 |
Scores 01 – 14 |
Poor |
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NR |
No Data |
No Data |
The rating indicates the payment
pattern of SC based upon our Payment Database, comments from suppliers of SC,
information from banks (if available), as well as industrial sources.
Dealings on open terms may be possible for SMALL
amounts depending on individual judgement experience.
As a private limited company there is no legal requirement
according to local corporate law for public disclosure of detailed financials.
SC is considered small-sized in its line with a 13 years operating
history.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code
Product/Service Description
Trading 3911 Jewelry, of precious metal
Trading 3961 Jewelry of materials other than solid gold, platinum
& silver
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code
Product/Service Description
Trading 7102 Diamonds, worked or not, not mounted or set
Trading 7113 Articles of jewelry & parts, of precious metal or
clad
Trading 7116201000 Jewelry of precious or semiprecious stones
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%)