MIRA
INFORM REPORT
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Report Date : |
27.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
CHUNG SHUN
JEWELLERY MANUFACTORY LIMITED |
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Registered Office : |
Rm 1102 Golden
Dragon Centre 38-40 Cameron Rd Tsimshatsui Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
28.09.1993 |
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Com. Reg. No.: |
0450328 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Designing of jewelry. Production of finished products by its China factory. |
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 |
Company name
CHUNG SHUN JEWELLERY MANUFACTORY LTD
RM 1102 GOLDEN DRAGON
CENTRE 38-40 CAMERON RD
TSIMSHATSUI KOWLOON,
HONG KONG
TEL : 852 21919762
FAX : 852 21919763
EXECUTIVE SUMMARY
INCORPORATION DATE :
SEPTEMBER 28, 1993
REGISTRATION NO. :
0450328
CHIEF EXECUTIVE :
MR. WAI-CHUNG LAI (DIRECTOR)
STAFF STRENGTH :
20
CAPITAL :
US$ 12,837
BUSINESS LINE :
TRADER
TURNOVER :
NA (AS OF DEC. 31, 2005)
EQUITIES :
NA (AS OF DEC. 31, 2005)
PAYMENT :
AVERAGE
MARKET CONDITION :
COMPETITIVE
FINANCIAL
CONDITION : FAIRLY STABLE
OPERATIONAL
TREND : FAIRLY STEADY
GENERAL
REPUTATION : AVERAGE
EXCHNAGE
RATE : HKD 7.78462
= US$1 AS OF 2006-11-13
*Company Registration*
===================
(1)
License number : 450328
Date issued : 28 September, 1993
Issuing authority : Companies Registry
Type of license : Corporate
(2)
License number : 17427849
Issuing authority : Inland Revenue Department
Type of license : Business
*Capital Details*
=============
Share value : HKD 1.00/-each
Authorized capital : HKD
100,000.00
Paid-up capital : HKD 100.00 divided into 100 ordinary
shares
*Office & Facilities*
===============
Employees breakdown
-------------------------------
Staff designers : 3
Skilled personnel : 30
Other website : www.jewelry.org.hk/chungshun
*Reputation*
===========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
Website : www.csjewel.com
The design is professional and the content is well organized. At
present it is in English version.
E-mail : marketing@csjewel.com
For the past two
years there is no record of litigation.
*Major Shareholders*
=================
Total number of shareholders
: 2
Total number of ordinary shares
: 100
Shareholders' name
No. of shares Amount of
shares (HKD) % of shares
--------------------------
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---------------------------------
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Mr. Wai-chung Lai
99 99.00 99
Mr. Yee-kwan Lai 1 1.00 1
*Directors' Details*
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(1)
Mr. Wai-chung Lai
HKID no : G063304(5)
Resident status : Hong Kong
Address : Flat D 14/F Tin Man Court 2A Kimberley St
Tsimshatsui Kowloon
(2)
Mr. Yee-kwan Lai
HKID no : C542236(A)
Resident status : Hong Kong
Address : Flat D 14/F Tin Man Court 2A Kimberley St
Tsimshatsui Kowloon
*Corporate Secretary*
=================
WELLPROS CONSULTANCY LTD
CR no : 401198
Address : Rm 01-02, 23Fl The Kwangtung Provincial
Bank Bldg 409-415 Hennesy Rd Causeway
Bay Hong Kong
Name Nationality
Job Description
Mr. Wai-chung Lai Hong
Kong Director
Mr. Yee-kwan Lai Hong
Kong Director
*Main Products & Services*
======================
Specializes in the following areas of work:
1. Designing of jewelry.
2. Production of finished products by its China factory.
Products : Jewelry
Jewelry rings
*Payment Terms*
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Sales
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Local : Cash or credit
Export : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
Purchases
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Local : Cash or credit
Import : Letter of Credit (L/C)
Telegraphic Transfer (T/T)
*Local Distribution Network*
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Part of the annual turnover is attributed to local sales
*Imports*
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100% of its products are imported.
*Export Markets*
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Part of the annual turnover is attributed to export
*(Subsidiaries, Joint-ventures & Affiliates)
===============================
Company Name : CHUNG
SHUN JEWELLERY MANUFACTORY LTD
Global Identifier : P0872630
Address :
Xin Ling Bldg 21-26 Guangzhou Freeway Shunde Dist Foshan Guangdong
China
Country :
China
Relationship :
Subsidiary
Legal Form :
Private Limited Company
Company Type :
Manufacturer
Industry :
Giftware & Jewellery
*Subsidiaries, Joint-ventures & Affiliates*
=================================
Maintains manufacturing facility in China. Details is as follows:
Production staff : 500
Size : 5,500 sq. meter facility
Location : Foshan City, Guangdong
PAYMENT RATING : 4 OBTAINED SCORES :
48
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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 favorable market conditions. It is
considered a credit line up to USD30,000 appears to be within SC’s capacities.
Attached: trade references
SIC PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3911 Jewelry,
of precious metal
Trading 5094 Jewelry/Watches/Precious
Mtl
HARMONIZED
PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 7113 Articles
of jewelry & parts, of precious metal or clad
Trading 7113200000 Jewelry
and parts, base metal clad w precious metal
INTERNATIONAL
TRADE : ACTIVITY & MARKETS
Exporting to Europe
Exporting to North America
Exporting to USA
Importing from Asia
Importing from China
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%)