MIRA
INFORM REPORT
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Report Date : |
16.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
M & M JEWELLERY CO LTD |
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Registered Office : |
Unit 8, 1FL FU Hang Industrial Bldg 1 Hok Yuen St East Hunghom Kowloo |
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Country : |
Hong Kong |
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Date of Incorporation : |
17.02.1989 |
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Com. Reg. No.: |
0242290 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Import and local purchase of various kinds of fine jewelry. Sales and distribution of purchased products to local and
international markets |
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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Maximum Credit Limit : |
USD 80,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
M
& M JEWELLERY CO LTD
UNIT 8, 1FL FU HANG INDUSTRIAL BLDG 1 HOK
YUEN ST
EAST HUNGHOM KOWLOON, HONG KONG
TEL: 852-27578770 FAX: 852-27530977
EXECUTIVE SUMMARY
INCORPORATION DATE :
FEBRUARY 17, 1989
REGISTRATION NO. :
0242290
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. CHI-LIN WAT (DIRECTOR)
STAFF STRENGTH :
25
CAPITAL :
US$ 128,535
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO
USD 80,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.79522 = 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 –Hong Kong Dollars
*Company Name*
=============
Incorporated as :
DIAMOND ROAD CO LTD
Date of incorporation : 17
February, 1989
Changed name to : M &
M JEWELLERY CO LTD
Date of change : 4
October, 1994
*Company Registration*
==================
(1)
License number : 0242290
Date issued : 17
February, 1989
Issuing authority : Companies
Registry
Type of license : Corporate
(2)
License number : 13104853-000
Date issued : N/A
Issuing authority : Business
Registration Office - Inland Revenue Dept
Type of license : Business
*Capital Details*
============
Authorized capital : HKD 1,000,000.00 divided into 1,000,000 ordinary
shares of HKD 1.00/-each, fully paid
*Office & Facilities*
================
Other e-mail : mmj@netvigator.com
*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. Edward Hong-ming Lam can sign on behalf of the company with
seal affixed.
*Registrar*
=========
INTERNATIONAL SECRETARIES LTD
www.mmjewellery.com The design
is professional and the content is well organized. At present it is in English
version.
E-mail: sales@mmjewellery.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 shares: 1,000,000
Shareholders Country
Number Amount (HKD) %
Mr. Chi-lin Wat Hong Kong 500,000.00 500,000.00 50.00
Mr. Edward Hong-ming Lam Hong Kong 500,000.00 500,000.00 50.00
*Corporate Secretary*
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WHOLE SUCCESS PROFESSIONAL CONSULTANTS LTD
C.R. number : 656625
Address : Rm 1204 Mongkok Commercial Centre 16
Argyle St, Kowloon Hong Kong
*COMPANY DIRECTORS*
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1
Name :
Mr. Chi-lin Wat
Nationality :
Hong Kong
ID/Passport No. :
C499776(8)
Registered Address :
Fairview Park 48 Bauhinia Rd South
Country of Residence : Hong
Kong
2
Name :
Mr. Edward Hong-ming Lam
Nationality :
Hong Kong
ID/Passport No. :
G257717(7)
Registered Address :
Fairview Park 48 Bauhinia Rd South, Yuen Long, New Territories
Country of Residence : Hong
Kong
*Main Products & Services*
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Specializes in the following areas of work:
1. Import and local purchase of various kinds of fine jewelry.
2. Sales and distribution of purchased products to local and
international markets.
Products: Cultured pearls
Diamond set
jewelry
Diamonds
Fine jewelry
Jewelry,
9k/10k/14k/18k fine
*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)
*Exhibition Participation*
===================
Participated in the following local exhibitions:
(1)
Exhibition fair : Hong Kong
Int'l Jewelry Manufacturers Exhibition
Date attended : 6-9 March, 2000
Location : Hongkong
Convention & Exhibition Centre
(2)
Exhibition fair : Hong Kong
International Jewellery Show
Dates attended : 6-9 March, 2006
(3)
Exhibition fair : Hong Kong
Jewellery & Watch Fair
Dates attended : 19-23 September, 2006
(4)
Exhibition fair : Hong Kong
International Jewellery Show
Dates attended : 6-10 March, 2007
*Associations*
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Member of the following associations :
- Hong Kong Jewellery Manufacturers' Association (HKJMA)
- Hong Kong Jade and Jewellery Manufacturers Association (HKJJA)
*Local Distribution Network*
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Part of the annual turnover is attributed to local sales.
*Export Markets*
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Part of the annual turnover is attributed to export.
*International Exhibition Participation*
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Participated in the following international exhibitions:
(1)
Exhibition fair : Iberjoya
2006 - Parque Ferial Juan Carlos Exhibition Centre
Dates attended : 12-16 January, 2006
Location : Madrid,
Spain
(2)
Exhibition fair : Asian
Jewelex Euro Spain
Dates attended : 23-26 February, 2006
Location : Barcelona,
Spain
(3)
Exhibition fair : IJK
(International Jewellry kobe)
Dates attended : May, 2006 18 - 20
Location : Kobe Japan
(4)
Exhibition fair : The JCK show
Dates attended : 3-7 June, 2006
Location : Las Vegas,
USA
(5)
Exhibition fair : JA New York
Summer Show
Dates attended : 30 July - 2 August, 2006
Location : New York,
USA
(6)
Exhibition fair : MIJF
(Malaysia Int'l Jewellery Fair)
Dates attended : 10-13 August, 2006
Location : Kuala
Lumpur Malaysia
(7)
Exhibition fair : IJL
(International Jewellery London)
Dates attended : 3-6 September, 2006
Location : London UK
(8)
Exhibition fair : Iberjoya
Dates attended : 14-18 September, 2006
Location : Madrid
Spain
(9)
Exhibition fair : 12th Malaysia
International Jewlex ( Malaysia Jewelry Festival 2006 )
Dates attended : 6-9 October, 2006
Location : Kuala
Lumpur Malaysia
(10)
Exhibition fair : 41th
Jewellery and Watchmaking Fair ( Feria De Joyeria Y Relojeria De Valencia)
Dates attended : 27-30 October, 2006
Location : Valencia,
Spain
(11)
Exhibition fair : 14th Hong
Kong Int'l Jewelry Manufactures Exhibition
Dates attended : 7-10December, 2006
Location : Hong Kong,
China
(12)
Exhibition fair : Iberjoya
Dates attended : 18-22 January, 2007
Location : Madrid,
Spain
(13)
Exhibition fair : IJG
(Malaysia International Jewellery & Gems Fair 2007 )
Dates attended : 23-26 March, 2007
Location : Kuala
Lumpur, Malaysia
(14)
Exhibition fair : Basel World
Dates attended : 12-19 April, 2007
Location : Basel,
Switzeland
(15)
Exhibition fair : The 11th IJK
2007 (International Jewellery Kobe)
Dates attended : 17-19 May, 2007
Location : Kobe,
Japan
*Subsidiaries, Joint-ventures & Affiliates*
==============================
Maintains a 70,000 sq. feet factory in Panyu, China with 1,000
employees.
PAYMENT RATING : 3 OBTAINED SCORES :
55
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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 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 financial.
*BANK DETAILS*
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Bank Name : HONG KONG &
SHANGHAI BANKING CORP LTD, THE
Branch : Hunghom,
Kowloon
Branch Address : 9Fl HSBC Main Bldg 1 Queen's Rd Central Hong Kong (Head
Office)
Account No. : 588344168-001
SWIFT Code : HSBCHKHH
SC is considered small-sized in its line with a long history. A credit
line at the above amount appears beyond SC’s capacities, while a credit line up
to USD 80,000 would appear 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 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 7113195000 Gold
jewelry, goldsmiths wares and other gold articles
Trading 7113205000 Jewelry
of base metal clad with precious metal
Trading 7116201000 Jewelry
of precious or semiprecious stones
DETAILED PRODUCT CLASSIFICATION
& ACTIVITY
Activity Product/Service Description
Trader Cultured
pearls
Trader Jewelry,
semi-precious stones
Trader Pearl
Trader Semi precious
stones
INTERNATIONAL
TRADE: ACTIVITY & MARKETS
Exporting to Asia
Exporting to Europe
Exporting to Middle East
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. |
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%)