MIRA
INFORM REPORT
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Report Date : |
15.10.2007 |
IDENTIFICATION DETAILS
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Name : |
DOUBLE ARTS JEWELLERY MANUFACTURER LTD |
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Registered Office : |
Unit 7-8, |
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Country : |
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Date of Incorporation : |
October 25, 1990 |
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Com. Reg. No.: |
290234 |
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Legal Form : |
Private |
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Line of Business : |
Trading wide range of jewelry and other related products. |
RATING & COMMENTS
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MIRAs 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. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
DOUBLE ARTS JEWELLERY MANUFACTURER LTD
UNIT 7-8,
HUNGHOM
TEL : 852-27303073
FAX : 852-27306309
EXECUTIVE SUMMARY
INCORPORATION DATE :
OCTOBER 25, 1990
REGISTRATION NO. :
290234
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. WILLIAM YUE-PUNG WONG (CHAIRMAN)
STAFF STRENGTH :
75
CAPITAL :
US$ 256,739
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.75340 = US$1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M million
HKD
*Company Registration*
===================
(1)
License number : 290234
Date issued : 25 October,
1990
Issuing authority : Companies
Registry
Type of license : Corporate
license
(2)
License number : 14049058-000
Issuing authority : Business
Registration Office - Inland Revenue Dept
Type of license : Business
license
*Capital Details*
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Authorized capital : HKD 2,000,000.00 divided into 200,000 ordinary
shares of HKD 10.00/-each, fully paid
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
*Approved Signatures*
==================
Only Mr. Simon Hok-fai Wu can sign on behalf of the company with seal
affixed.
*Registrar*
=========
- PILARE LTD
www.doublearts.com The design
is professional and the content is well organized. At present it is in English
version.
E-mail: jewellery@doublearts.com
For the past two years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders :
2
Total number of ordinary shares : 200,000
Shareholders' Name No. of Ordinary
Shares Amount of Shares (HKD) % of Shares
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Mr. Simon Hok-fai Wu 100,000 1,000,000.00 50.00
Mr. William Yue-pung Wong 100,000 1,000,000.00 50.00
*Director's Details*
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Mr. Simon Hok-fai Wu
HKID no :
A980287(0)
Address :
Flat H 23Fl
*Company Secretary*
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Mr. Simon Hok-fai Wu
HKID no :
A980287(0)
Address :
Flat H 23Fl
Management: Mr. Danny Wu,
Manager
Mr. Ken Woo, Manager
Mr. William Yue-pung Wong, Managing Director
Name Nationality
Job Description Dept. / Division
Mr. Danny Wu
Mr. Ken Woo
Mr. William Yue-pung Wong Hong
Kong Managing Director -
*Key Personnel*
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Mr. William Yue-pung Wong
HKID no : E518054(A)
Address : Flat H 42Fl
Responsibility : Handles the overall management of the company.
*Main Products & Services*
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Specializes in trading wide range of jewelry and other related
products.
Products: 14k gold jewelry
18k white gold
jewelry
9k gold jewelry
Bangles
Bracelets
*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 to wholesalers
and retailers.
*Export Markets*
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Part of the annual turnover is attributed to export worldwide.
*International Exhibition Participation*
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Participated in the following international exhibitions:
(1)
Exhibition fair : VicenzaOro
Winter
Dates attended : 14-21 January, 2007
Location :
(2)
Exhibition fair : Hong Kong
Int'l Jewellery Show
Dates attended : 6-10 March, 2007
Location :
(3)
Exhibition fair : Jewellery-I
Dates attended : 21-25 March, 2007
Location :
(4)
Exhibition fair :
Dates attended : 12-19 April, 2007
Location :
(5)
Exhibition fair : VicenzaOro
Spring
Dates attended : 12-16 May, 2007
Location :
(6)
Exhibition fair : The JCK Show
-
Dates attended : 1-5 June, 2007
Location :
(7)
Exhibition fair : JA New York
Summer Show
Dates attended : 29 July-1 August, 2007
Location :
(8)
Exhibition fair : International
Jewellery London
Dates attended : 2-5 September, 2007
Location :
(9)
Exhibition fair : VicenzaOro
Autumn
Dates attended : 15-19 September, 2007
Location :
(10)
Exhibition fair : Hong Kong
Jewellery & Watch Fair
Dates attended : 25-29 September, 2007
Location :
*Associations*
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Member of the following associations :
-
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*Exhibition Participation*
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Participated in the following local exhibitions:
(1)
Exhibition fair : Hong Kong
International Jewellery Show
Date attended : 6-10 March, 2007
Location :
(2)
Exhibition fair : Hongkong
Jewellery & Watch Fair
Date attended : 25-29 September, 2007
Location :
*Subsidiaries, Joint-ventures & Affiliates*
==============================
Maintains factory in
PAYMENT RATING : 3 OBTAINED SCORES : 53
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Implication |
Implications |
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1 |
Scores 85100 |
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.
*Bank Details*
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Bank Name : NANYANG COMMERCIAL BANK LTD
Branch : Central,
Branch Address : Ground Fl Nanyang Commercial Bank Bldg
SWIFT Code : NYCBHKHH
SC is considered small-sized in its line with a 17 years development
history.
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
Trading 5094 Jewelry/Watches/Precious
Mtl
HARMONIZED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 7102 Diamonds,
worked or not, not mounted or set
Trading 7102100000 Diamonds,
unsorted
Trading 7103 Precious
nesoi & semiprec stones, not strung etc
Trading 7103102000 Rubies,
sapphires, emeralds and rock crystals, unworked or simply sawn or
roughly
shaped, not strung, mounted or set
Trading 7103910000 Rubies,
sapphires and emeralds, otherwise worked
Trading 7113 Articles
of jewelry & parts, of precious metal or clad
Trading 7113192900 Gold
necklaces and neck chains
Trading 7113195000 Gold
jewelry, goldsmiths wares and other gold articles
Trading 7113202900 Necklaces
and neck chains of base metal clad with gold
Trading 7113205000 Jewelry
of base metal clad with precious metal
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Rings
Trader Earings
Trader Pendants
Trader Bracelets
Trader Necklaces
Trader Bangles
Trader Brooches
Trader 9k gold
jewelry
Trader 14k gold
jewelry
Trader Ruby
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Exporting to
Importing from
Importing from
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. |
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 SCs 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%)