MIRA
INFORM REPORT
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Report Date : |
17.10.2007 |
IDENTIFICATION DETAILS
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Name : |
LORENZO JEWELRY LTD |
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Registered Office : |
Unit 1212, 12FL Focal Industrial Centre - Block A |
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Country : |
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Date of Incorporation : |
February 20, 1987 |
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Com. Reg. No.: |
0183233 |
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Legal Form : |
Private |
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Line of Business : |
Trading various range of precious and colored gemstone and
diamond jewelry. Sales and distribution to local and international
markets. |
RATING & COMMENTS
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MIRAs 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 : |
Regular |
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Litigation : |
Exists |
name &
address
LORENZO JEWELRY LTD
UNIT 1212, 12FL FOCAL INDUSTRIAL CENTRE - BLOCK A
TEL : [+852] 27643622
FAX : [+852] 27643783
EXECUTIVE SUMMARY
INCORPORATION DATE :
FEBRUARY 20, 1987
REGISTRATION NO. :
0183233
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. LORENZO YU-CHUAN YIH (CHAIRMAN)
STAFF STRENGTH :
120
CAPITAL :
US$ 654,685
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 7.75355 = USD1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD
*Company Name*
=============
Incorporated as
: LORENZO JEWELRY MFG (HK) LTD
Date of incorporation
: 20 February, 1987
Changed name to
: LORENZO JEWELRY LTD
Date of change
: 2 May, 2002
*Company History*
===============
February 1987 -
Founded by Mr. Lorenzo Yu-chuan Yih and started with small gemstone factory.
September 1988 -
Added gold factory with 50 workers.
February 1990 -
Built a 45,000 square foot factory in
January 2003 -
Consolidated its operation in its Shenzhen premises and expanded to 100,000
square feet.
*Capital Details*
============
Share value
: HKD 100.00/-each
Authorized capital
: HKD 100,200.00 divided into 1,002 voting class A shares, fully paid
HKD 4,999,800.00
divided into 49,998 voting class B shares, fully paid
*Company Registration*
==================
(1)
License number :
0183233
Date issued :
20 February, 1987
Issuing authority :
Companies Registry
Type of license :
National Corporate License
(2)
License number :
10801953-000
Date issued :
N/A
Issuing authority :
Business Registration Office - Inland Revenue Dept
Type of license :
National Taxation License
*Office & Facilities*
===============
Size
: 3,000 sq. ft.
Location
: Industrial district
Type of building :
Industrial building
Current land search on the above premise indicates the
following :
Ownership : LORENZO
JEWELRY LTD
Date of purchase & amount : 27 May, 1987 / HKD 815,000
Date of mortgage & amount : 20 January, 2000 / Amount not stated
Mortgagee : STANDARD
CHARTERED BANK
Other e-mail address : ir@ljintl.com (investor relations)
sales@ljintl.com (sales)
hr@ljintl.com (employment)
*Approved Signatures*
=================
Ms. Alfonsa Ka-man Au can sign on behalf of the company with
seal affixed.
Website : www.ljinc.com The design is professional and
the content is well organized. At present it is in both English and Chinese
versions.
Email : mail@ljintl.com
LITIGATION 2
Found
Litigation ( 1 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong
ORGANIZACOES OZELIERIE SILVA LTD
Case Issue : A petition to the court claiming a sum of money
amounting to
HK$ 37,992.14
Date Commenced : 31 July, 2000
Status : Not stated
Litigation ( 2 )
Position : Defendant
Other Parties Involved : Position Country Party's Name
Plaintiff Hong Kong
CIR
Case Issue : A petition to the court claiming unpaid taxes
amounting to
HK$ 963,199.00
Date Commenced : 18 February, 1998
Status : Not stated
*Major Shareholders*
================
Total number of shareholders : 4
Total number of shares : 51,000
Shareholders' Name Type
of Voting Class No. of Shares Amount of Shares (HKD) % of Shares
-------------------------- ---------------------------- ------------------ ------------------------ -----------
Bianca Tzu-hsiu Yih B 24,999 2,499,900.00 49.02
Debora Mu-yong Yih B 24,999 2,499,900.00 49.02
LJ INT'L INC A 1,001 100,100.00 1.96
Ka-man Au A 1 100.00 --
*Directors' Details*
===============
(1)
Ms. Alfonsa Ka-man Au
HKID no :
G035771(4)
Address :
Responsibility : Handles the general administration human
resources and management of the companies.
Other position : Chief Operating Officer, LJ INT'L INC -
(2)
Mr. Ringo Hon-tak Ng
HKID no
: G216383(6) National ID No
Address : Flat 802 The Dahfuldy Block C
Qualification :
Certified Public Accountant
Work experience : Senior Auditor MOORES ROWLAND CA
Education :
- Bachelor's Degree Civil Engineering form
- Masteral Degree Accounting from UNIVERSITY OF NEW SOUTH WALES
Other position :
Chief Financial Officer, LJ INT'L INC -
Shareholders' Details
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The following shareholders can be reached at 27805 Higuera
Mission Viejo
- Bianca Tzu-hsiu Yih
- Debora Mu-yong Yih
Management : Ms. Mabelle Hau, Officer
Mr. Lorenzo Yu-chuan Yih, CEO
Mr. Joe Lee, Representative
Name Nationality Job
Description
Ms. Mabelle Hau
Mr. Lorenzo Yu-chuan Yih Hong
Kong CEO
Mr. Joe Lee
*Key Personnel*
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(1)
Mr. Lorenzo Yu-chuan Yih
HKID no :
K768853(9)
Address :
K80 Stage IV Marina Cove Sai Kung New Territories
Responsibility :
Handles the overall management of the company.
Work experience : President HONG KONG GEMOLOGICAL INSTITUTE
OF
Chairman of the following companies :
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Associations :
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- The Jewelers Board of Trade
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- International Colored Color Stone Association
Other position :
Chairman, LJ INT'L INC -
(2)
Mr. Joe Lee
Tel no : 27643622
Fax no : 27643783
*Main Products & Services*
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Specializes in the following areas of work :
1. Trading various range of precious and colored gemstone
and diamond jewelry.
2. Sales and distribution to local and international
markets.
*Payment Terms*
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Sales
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Local : 30-90 days
credit
Export : Letter of Credit (L/C)
Purchases
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Import : Letter of Credit (L/C)
Products : 14k gold jewelry
18k
gold jewelry
18k
jewelry
Brooches
Costume jewelry
*Charges*
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Registration date : 18 June, 2001
Type of charge : Liabilities
Chargee/Beneficiary : DBS BANK (
Amount secured by charge
: Amount not stated
*Exhibition Participation*
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Exhibition/Fair :
Date attended : 6-9
March, 2000
Location :
*Local Distribution Network*
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Part of the annual turnover is attributed to local sales to
retailers.
*Imports*
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100% of the products are imported from Africa, South America
and
*Export Markets*
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Part of the annual turnover is attributed to export.
*Overseas Customers*
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- JC PENNEY
- MACYS
- HELZBERG DIAMONDS
- WAL MART
- MERVYNS
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- ZALES
*Branches*
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Maintains nine (9) jewelry designers.
*Subsidiaries, Joint-ventures & Affiliates*
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Maintains eight (8) facilities and 2,500 staff in
PAYMENT RATING : 3 OBTAINED SCORES : 65
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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
MODERATE 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.
*Financial History*
==============
February 1990 - Invested
over HKD 600,000.00 for the factory in
*BANK DETAILS*
===============
Bank Name : DBS BANK (
Branch : Central,
Branch Address : 11Fl The Center 99 Queen's Rd
SWIFT Code : DHBKHKHH
Bank Name : HONG KONG & SHANGHAI BANKING CORP LTD, THE
Branch : Central,
Branch Address : Basement Level HSBC Main Bldg 1 Queen's Rd
SWIFT Code : HSBCHKHH
Bank Name : STANDARD CHARTERED BANK
Branch : Central,
Branch Address : 13Fl Standard Chartered Bank Bldg 4
SWIFT Code : SCBLHKHH
SC is considered medium-sized in its line with an acceptable base.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code
Product/Service Description
Trading 3911 Jewelry, of precious metal
Trading 3915 Jeweler's findings and materials, and lapidary work
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 7100 Pearls, stones, prec. metals, imitation jewelry,
coins
Trading 7102 Diamonds, worked or not, not mounted or set
Trading 7113 Articles of jewelry & parts, of precious metal or
clad
Trading 7113110000 Jewelry and parts thereof, of silver
Trading 7116201000 Jewelry of precious or semiprecious stones
Trading 7117 Imitation jewelry
Trading 7117110000 Cuff links and studs of base metal whether or not plated with
precious metal
Trading 7117199000 Other imitation jewelry of base metal
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Jewelry
Trader Fashion
jewelry
Trader Costume
jewelry
Trader Precious
stones
Trader 14k
gold jewelry
Trader Jewelry,
14k & 18k
Trader 18k
gold jewelry
Trader 18k
jewelry
Trader Brooches
Trader Cuff
links
INTERNATIONAL TRADE: ACTIVITY & MARKETS
Exporting to
Exporting to
Exporting to
Exporting to
Importing from
Importing from
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%)