MIRA
INFORM REPORT
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Report Date : |
04.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
MYER JEWELRY MANUFACTURER LTD |
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Registered Office : |
Flat C Ground Fl Kaiser Estate
41 Man Yue St Hunghom Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
28.10.1977 |
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Com. Reg. No.: |
0056250 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing and Local Purchasing of Jewelry Products. Sales and Distribution of purchased products to local and
international market |
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 : |
No Complaints |
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Litigation : |
Clear |
name & address
MYER
JEWELRY MANUFACTURER LTD
FLAT C GROUND FL KAISER ESTATE
41 MAN YUE ST HUNGHOM KOWLOON, HONG KONG
TEL:
852-27730773 FAX:
852-27731773
EXECUTIVE SUMMARY
INCORPORATION DATE :
OCTOBER 28, 1977
REGISTRATION NO. :
0056250
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. DAVID WAI-KIN SIN (CHAIRMAN)
STAFF STRENGTH :
20
CAPITAL :
US$ 768,246
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 7.80364 = USD 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
*OTHER LICENSE*
================
License Number : 05351264-000
Issuing Authority : Business Registration Office - Inland Revenue Dept
*Capital Details*
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Share value
: HKD 100.00/-each
Authorized capital : HKD 6,000,000.00
Issued & paid-up capital :
HKD 5,150,200.00 divided into the following shares:
- 1,002 ordinary
shares
- 50,500 non-voting 5%
deferred
*Office & Facilities*
===============
Other contact details
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Tel no. : 23341411
Email : sales@myer.com.hk
*Approved Signatures*
===================
Only Mr. Benedict Nga-yan Sin can sign on behalf of the company with
seal affixed.
*Charges*
=========
Type of Charge
: Mortgage
Amount Secured by charge : HKD
69,724,719.43
*Registrar*
=========
- MJM MANAGEMENT SERVICES LTD
www.myer.com.hk
The design is professional and the content is simple. At present it is in
English version.
E-mail: info@myer.com.hk
For the past 2 years there is no record of litigation.
*Major Shareholders*
=================
Total number of shareholders
: 2
Total number of shares
: 51,502
Shareholders' Name Type of Share No. of Shares
Amount of Shares (HKD) % of Shares
--------------------------- ------------------- ------------------ --------------------------------- ----------------
MYER INDUSTRIES INT'L LTD Ordinary 1,002 100,200.00 100.00
Non-voting 5%
deferred 50,499 5,049,900.00 99.99
MART INT'L CO LTD Non-voting 5% deferred 1 100.00 0.01
No. Shareholders Country Shares Number Amount (HKD) %
1
MYER INDUSTRIES INT'L LTD Hong
Kong 51,501.00 5,150,100.00 99.99
2
MART INT'L CO LTD
Hong Kong 1.00 100.00 0.01
*Company Secretary*
=================
MJM MANAGEMENT SERVICES LTD
C.R. no. : 372580
Address : Flat C Ground Kaiser Estate - Phase 1, 41-51 Man Yue St
Hunghom Kowloon
Management: Mr. Bonnie Cheung,
Manager
Mr. Benedict Nga-yan Sin, General Manager
Name Nationality
Job Description Dept. / Division
Mr. Bonnie Cheung Hong
Kong Manager Sales
Mr. Benedict Nga-yan Sin Hong
Kong General Manager -
*COMPANY DIRECTORS*
=====================
1
Name :
Mr. Benedict Nga-yan Sin
Nationality :
Hong Kong
ID/Passport No. :
D385563(6)
Registered Address : Flat C
Ground Fl Kaiser Estate 41 Man Yue St ,Hunghom ,Kowloon ,Hunghom
Country of Residence : Hong
Kong
2
Name :
Mr. David Wai-kin Sin
Nationality :
Hong Kong
ID/Passport No. :
A191152(2)
Registered Address : 26
Black's Link ,Deep water bay ,Hong Kong ,Deep water bay
Country of Residence : Hong
Kong
3
Name :
Ms. Violet Po-lan Sin Lau
Nationality :
Hong Kong
ID/Passport No. :
A191153(0)
Registered Address : 26
Black's Link ,Deep water bay ,Hong Kong ,Deep water bay
Country of Residence : Hong
Kong
*Main Products & Services*
======================
Specializes in the following areas of work :
1. Importing and local purchasing of a wide range of jewelry products.
2. Sales and distribution of purchased products to local and
international markets.
Products: 14k gold jewelry
18k gold
jewelry
Diamond
jewelry
Diamond jewelry
watches
Emeralds
*Payment Terms*
==============
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
International Jewellery Show 2000
Date attended : 6-9 March, 2000
Location : Hong Kong Convention &
Exhibition Centre
(2)
Exhibition fair : Hong Kong
Exhibitors
(3)
Exhibition fair : San Expo
*Associations*
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Member of :
- The Hong Kong Jade & Stone Manufacturers Association
*Competitors*
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The following locally based firms supply similar range of products :
- WADDY JEWELLERY CO LTD
- KEGO DESIGN JEWELLERY CO LTD
- DYNASTY JEWELRY (HK) LTD
*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 : The Watch
and Jewellery Show
Dates attended : April 3-10, 2008
Location : 6.0/ Beta
Stand B03, Basel, Switzerland
(2)
Exhibition fair : Japan
Jewellery Fair 2007
Year attended : 2007
Location : Japan
(3)
Exhibition fair : JCK Las
Vegas Show 2006
Year attended : 2006
Location : Las Vegas,
USA
*(Subsidiaries , Joint-ventures & Affiliates)
=============================
Company Name : MYER JEWELRY
MANUFACTURER LTD
Address : Rm
903 Sunshine Hotel 1st Jiabin Rd Luohu Dist Shenzhen 518001 Guangdong China
Country :
China
Relationship :
Affiliate
Legal Form :
Private company with limited liability
Company Type :
Manufacturer
Industry :
Giftware & Jewellery
PAYMENT RATING : 3 OBTAINED SCORES :
60
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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.
*BANK DETAILS*
===============
Bank Name : HANG
SENG BANK LTD
Branch :
Central, Hong Kong
Branch Address : Level
21 Hang Seng Bank Bldg 83 Des Voeux Rd
SWIFT Code :
SCBLHKHH
SC is considered medium-sized in its line with a long history.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3873 Watches,
clocks, clockwork operated devices, and parts,
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 7100 Pearls,
stones, prec. metals, imitation jewelry, coins
Trading 7102 Diamonds,
worked or not, not mounted or set
Trading 7103 Precious
& semiprec stones, not strung etc
Trading 7103910000 Rubies,
sapphires and emeralds, otherwise worked
Trading 7103995000 Gemstones
otherwise worked not suitable for use in jewelry
Trading 7108 Gold
(incl put plated), unwr, semimfr or powder
Trading 7113 Articles
of jewelry & parts, of precious metal or clad
Trading 7114 Articles
of goldsmith/silversmith wares, precious metal
Trading 7116 Articles
of natural or cut pearls, prec/semprc stones
Trading 7116201000 Jewelry
of precious or semiprecious stones
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Gemstones
Trader 14k gold
jewelry
Trader Jewelry
Trader Precious
stones
Trader Watches
Trader 18k gold
jewelry
Trader Diamond
jewelry watches
Trader Jewelry, cast
& handmade fine
Trader Precious
metal
Trader Platinum
jewelry
INTERNATIONAL TRADE: ACTIVITY & MARKETS
Country / Region Main Trading Activity
Africa Exporting
Asia / Pacific Exporting,Importing
Europe Exporting
Middle-East Exporting
North America Exporting
Pacific Exporting
South America Exporting
Australia Exporting
China Importing
Japan Exporting
South Africa Exporting
Switzerland Exporting
USA Exporting
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.40 |
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UK Pound |
1 |
Rs.83.57 |
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Euro |
1 |
Rs.66.02 |
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%)