MIRA
INFORM REPORT
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Report Date : |
09.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
NELSON
JEWELLERY ARTS CO. LTD. |
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Registered Office : |
2/F,
Guardforce Centre, 3 Hok Yuen Street East, Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
02.11.1984 |
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Com. Reg. No.: |
143110 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged in manufacturing and export of 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
NELSON JEWELLERY ARTS CO. LTD.
2/F,
GUARDFORCE CENTRE, 3 HOK YUEN STREET EAST, HUNGHOM, KOWLOON, HONG KONG.
TEL : 852 23622888
FAX : 852 27644028
EXECUTIVE SUMMARY
INCORPORATION DATE :
2-11-1984
REGISTRATION NO. :
143110
REGISTERED LEGAL FORM : PRIVATE
CHIEF EXECUTIVE : HO CHI KAI NELSON (CHAIRMAN & DIRECTOR)
STAFF STRENGTH :
300
AUTHORIZED
CAPITAL : HK$1M = 1M SHARES @
HK$1.-
PAID-UP
CAPITAL : HK$1M
BUSINESS LINE :
MANUFACTURE AND EXPORT OF JEWELLERY
TURNOVER :
HKD 1,000M (GROUP, YEAR ENDED 31-3-2005)
EQUITIES :
N/A (AS OF MAR. 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 7.76841 = USD1 AS OF 2006-12-8
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. 143110 on 2-11-1984.
SC's shareholders & directors are shown to be
as follows:
Shareholders (as
at 2-11-2006) Number
of shares held
Chung Yuk Wah
Christina 1
Ho Chi Kai Nelson 999,999
------------
1,000,000
=======
Directors (as at 2-11-2006)
Chung Yuk Wah Christina / E771537(8)
Ho Chi Kai Nelson / G065342(9)
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.
Total number of
employees: 300.
Location: Maintaining its office & workshop at the
heading business address which occupies a gross area of 28,000 square feet at
an industrial building in an industrial district.
Condition inside
the premises during our visit: Normal.
Office/factory
layout: Standard.
The premises are rented.
SC also maintains marketing offices in Australia,
UK & USA (Los Angeles and New York).
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) : (X) see
below ( ) see per attached
Creation date : 26-5-2005
Charger(s) :
SC
Chargee(s) :
Hang Seng Bank Ltd.
Secured amount : ANS
Charge particulars : Running Deed of Charge
Creation date : 26-9-2006
Charger(s) :
SC
Chargee(s) :
Standard Chartered Bank (HK) Ltd.
Secured amount : ANS
Charge particulars : Charge Over Security
Mortgage Index:
Year(s) in which mortgage registration(s) are
filed: 2000, 2001, 2003, 2005, 2006
Year(s) in which mortgage satisfaction record(s)
are filed: 2003
Ho Chi Kai Nelson, chairman & director:
- In his mid 40's & married
- He was bestowed with the Young Industrialist of
Hong Kong Award in 1998 as a public recognition of his outstanding achievements
in management & contribution to Hong Kong's jewellery industry
- He also received the Top Ten Business Maker Award
in 2000 for its extraordinary accomplishments in exploring the international
market
Currently active in SC's day-to-day operations
& is responsible for its management.
Registered residential address: Same as heading
business address.
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
Chung Yuk Wah Christina, director:
- In her late 40's & wife of Ho Chi Kai Nelson
Currently active in SC's day-to-day operations
& is responsible for its management.
Registered residential address: Same as heading
business address.
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 : 65 (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 skills.
Business categories :
SC is engaged in manufacturing and export of
jewellery.
Items available include 14K & 18K gold diamond
jewellery, South Sea Pearl jewellery, platinum jewellery, coloured stones &
diamond jewellery.
SC has production facilities in HK & PR China
along with a diamond-polishing factory in Bangkok, Thailand.
Details of the production facilities in PR China
and Thailand are as follows:
1) Pan-Hua Nelson Jewellery Arts Co. Ltd.
- 18, Jie-Jin 2 Road, Sha-Tou Town, Panyu,
Guangzhou, Guangdong Province, PR China.
- Tel : 86-20-84871571
- Fax : 86-20-84871517
- No. of employees : 1,000
2) Long-Men Nelson Jewellery Co. Ltd.
- Communication Bldg., Right Side Xi-li, Xiang-Bin
East Rd., Long-Cheng Town, Long-Men Country, Huizhou, Guangdong Province, PR
China.
- Tel : 86-752-7788299
- Fax : 86-752-7789477
- No. of employees :
1,000
3) Thailand Diamond Factory
- Gemopolis Industrial Estate, 47/11 Moo 4
Sukhapiban, 2 Road Prawes, Bangkok 10260, Thailand.
- Tel :
66-2-7270176-80
- Fax :
66-2-7270181
SC is best known for its quality diamond bridal
& fashion jewellery product lines.
A portion is sold under the brands
"Nelson", "Thistle" & "Calla".
Achievements:
- SC received HKPC Productivity Award by the Hong
Kong Productivity Council in 1996 and 2001 of which SC was the first jewellery
manufacturer receiving such accreditation.
-In 2000, SC was the first company in the world in
employing the SAP-ERP (Enterprise Resource Management System) in the jewellery
industry.
-In 2004, SC was awarded as "Caring Company
2003/04" by the Hong Kong Council of Social Service.
- ISO 9001:2000
Principal purchases :
Major types of sourcing :
Raw materials & accessories
Local--type of suppliers :
Nil
Buying terms :
Nil
Overseas--supplying countries :
Thailand, Europe, South Africa & PR China
Buying terms :
L/C, D/P & T/T
Principal market :
Local--type of customers : Nil
Selling terms :
Nil
Overseas--buying countries :
Australia, Middle East, Japan, SE Asia, Taiwan, Scandinavia, USA, Europe,
Central & South America
Selling terms :
D/P, L/C, D/A & T/T
SC is
not known to have any subsidiary at present.
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 : Owing
to the nature of its operation, SC is not an active seeker of local
commercial credit. Its expenses in the form
of accruals and servicing are
reportedly met in a prompt manner.
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:
- The Bank of Nova Scotia
- HSBC
- Standard Chartered Bank (HK) Ltd.
- Hang Seng Bank Ltd.
Upon a
current contact, Chak Noel, SC's secretary to general manager, 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.
Our onfile record indicated that turnover of SC's
group for the year ended 31-3-2005 was HK$1,000M.
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 2-11-2006 was nil.
SC is considered a well-maintained business with
solid 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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