MIRA
INFORM REPORT
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Report Date : |
20.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
UNICO JEWELLERY LTD. |
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Registered Office : |
Rm A, 11/F, Mangan Building, 18-20 Cameron Road,
Tsimshatsui, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
15-12-2000 |
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Com. Reg. No.: |
741336 |
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Legal Form : |
Private |
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Line of Business : |
Manufacturing & export of fine 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 : |
Usually correct |
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Litigation : |
Clear |
name & address
UNICO JEWELLERY LTD.
RM A, 11/F, MANGAN BUILDING, 18-20 CAMERON ROAD, TSIMSHATSUI,
KOWLOON, HONG KONG.
TEL: 852 27227122
FAX: 852 27226838
EXECUTIVE SUMMARY
INCORPORATION DATE : 15-12-2000
REGISTRATION NO. :
741336
REGISTERED LEGAL FORM : PRIVATE
CHIEF EXECUTIVE : SY MAN FUI (DIRECTOR)
STAFF STRENGTH :
8
AUTHORIZED CAPITAL : HK$1M = 1M SHARES @ HK$1.-
PAID-UP CAPITAL : HK$1M
BUSINESS LINE :
MANUFACTURE & EXPORT OF FINE JEWELLERY
TURNOVER :
N/A (AS OF DEC. 31, 2005)
EQUITIES :
N/A (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE :
MODERATE AMOUNT
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.81273 = USD1 AS OF 2007-3-20
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. 741336 on 15-12-2000.
SC's shareholders & directors are shown to be as
follows:
Shareholders (as at 15-12-2006) Number
of shares held
Sze Chiu Hung 100,000
Sze Wing Sang 100,000
Sy Man Fui 800,000
------------
1,000,000
=======
Directors
(as at 15-12-2006)
Sze Chiu Hung / H479963(3)
Sy Man Fui / D286360(0)
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 : 8.
Location : Maintaining its office at the heading business
address which occupies a gross area of 1,200 square feet at a commercial building
in a commercial & shopping district.
Condition inside the premises
during our visit : Normal.
Office/factory layout : Standard.
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) : None filed within the last 2 years as per
our current search.
Mortgage Index:
Year(s) in which mortgage registration(s) are filed: 2004,
2005
Year(s) in which mortgage satisfaction record(s) are filed:
2007
Sze Chiu Hung, director:
- In his mid 40's
- He has over 10 years experience in present field
Currently active in SC's day-to-day operations & is responsible
for its management.
Registered residential address: Flat B, 29/F, Tower 3,
Tivoli Garden, 75 Tsing King St., Tsing Yi, N.T., HK.
Property ownership: Current land search indicates the said
premises ownership as follows:
- Owner(s) : Sze Chiu Hung & others
- Date of purchase & consideration : 13-2-1996 / $1.796M
- Date of mortgage & secured amount : 13-2-1996 / $1.2M
- 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 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
Sy Man Fui, director:
- In his early 50's
- Embarked upon his career to present field as a small
businessman in his mid 20's
Currently active in SC's day-to-day operations & is
responsible for its management.
Registered residential address: Flat B, 11/F, Tower 9, Park
Royale 38, Pown Park Road North, Yuen Long, N.T., HK.
Property ownership: Current land search indicates the said premises
ownership as follows:
- Owner(s) : Sy Man Fui & Tsang Ching Lai
- Date of purchase & consideration : 21-8-1999 / $2.32M
- Date of mortgage & secured amount : 21-8-1999 / ANS
- Mortgagee : Nanyang Commercial 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 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 skill.
Business categories :
SC is engaged in manufacturing & export of fine
jewellery.
Items available include gemstone (ruby, emerald, sapphire,
tiger, rough colour), diamond, gemset, semi-precious & precious stones.
Production is assigned to its affiliated factory/joint
venture factory located at Shenzhen,
Guangdong Province, PR China.
Principal purchases :
Major types of sourcing :
Diamond & gemstones
Local--type of suppliers :
Nil
Buying terms :
Nil
Overseas--supplying countries :
India, Sri Lanka, Pakistan, S. Africa, Europe & other SE Asian countries
Buying terms :
L/C & T/T
Principal market :
Local--type of customers :
Retailers
Selling terms :
COD & credit of 30 to 45 days
Overseas--buying countries :
PR China, SE Asia & USA
Selling terms :
L/C & 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 : 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.
Banking relations are maintained principally with:
- HSBC
- Bank of China (HK) Ltd.
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 15-12-2006 was NA.
SC is considered a normally
advancing concern with steady customers and good base to meet its trade
engagements. Credit in the range of
moderate amount can be considered.
-- 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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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%)