MIRA
INFORM REPORT
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Report Date : |
21.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
SUNPOWER JEWELRY LTD. |
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Registered Office : |
Unit 25, 3/F., Block B, Focal Industrial Centre, 21 Man Lok Street,
Hung Hom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
20.5.2006 |
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Com. Reg. No.: |
1046817 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturing and Export of Jewellery. |
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. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Exists |
name & address
SUNPOWER JEWELRY
LTD.
UNIT 25, 3/F.,
BLOCK B, FOCAL INDUSTRIAL CENTRE,
21 MAN LOK STREET, HUNG HOM, KOWLOON,, HONG KONG
TEL: 852 29542488 FAX: 852 29542499
EXECUTIVE SUMMARY
INCORPORATION DATE :
20-5-2006
REGISTRATION NO. :
1046817
REGISTERED LEGAL FORM : PRIVATE
LIMITED COMPANY
CHIEF EXECUTIVE : MR. LAM TAT HONG FRANKLIN (DIRECTOR)
STAFF STRENGTH :
15
AUTHORIZED CAPITAL : HK $4M = 4M SHARES @ HK $1.-
PAID-UP
CAPITAL : HK
$4M
BUSINESS LINE :
MANUFACTURING & EXPORT OF JEWELLERY
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : SMALL
AMOUNT
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.80111 = 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
SC is a private limited company registered under incorporation file no.
1046817 on 20-5-2006.
SC's shareholder(s) & director(s) are shown to be as follows:
Shareholder(s) (as at 20-5-2007) Number
of shares held
- Lam Tat Hong Franklin
2,000,000
- Kuroda Takako
2,000,000
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4,000,000
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Director(s) (as at 20-5-2007)
- Lam Tat Hong Franklin / E629155(8)
- Kuroda Takako / A901678(6)
The above registration information is based on SC's annual return filed
at Companies Registry within the last 2 years.
Total number of employees: 15.
Location: Maintaining
its office at the heading business address which occupies a gross area of 2,000
square feet at a industrial building in a industrial district.
Condition inside the premises during our
visit: Normal.
Office/factory layout: Standard.
The premise is rented.
Property ownership: Current land search indicates the ownership details
of the heading premises as follows:
- Owner(s): Sky Worth (HK) Ltd.
- Date of purchase / consideration: 26-4-2004 / HK $2,009,980
- Date of mortgage / secured amount: 26-4-2004 / ANS
- Mortgagee: HSBC
Lam Tat Hong Franklin, director:
- In his mid 50's.
- Embarked upon his career to present field as in his mid 20's.
Currently active in SC's day-to-day operations & is responsible for its
management.
Registered residential address: Flat F, 13/F., Block 2, Bamboo Mansion,
Site 12, Whampoa Garden, Hung Hom, Kowloon, Hong Kong.
Property ownership: Current land search indicates the said premises
ownership as follows:
- Owner(s) : Pun Kin Wa & Chiu Kwok Ching
- Date of purchase / consideration: 11-3-1991 / HK $1,830,000
- Date of mortgage / secured amount: NA
- Mortgagee : NA
Credit history
check : This refers to a check of our
database whether the said person has been involved in any of the following
stored by us within the last 6 years:
Bankruptcy/winding-up
petitions : None in our database
Delinquent
payment records : None in our database
Debt
collection records : No overdue amount owed by the said person was
placed to us for collection
Civil
litigations : (X) see below ( ) see per attached
Date :
24-10-2002
Defendant(s) : Lam Tat Hong Franklin
Plaintiff(s) : Ablemaster Jewellery
Manufacturing Co Ltd
Cause of claims : Breach of agreement
Claimed amount : HK $422,144
We could not verity whether the defendant(s) of the above writ record(s)
& SC's director are the same person although their name spellings are
identical. In Hong Kong, the identity
card no. of defendant(s) (individuals) in civil litigations is not disclosed
for public search.
Kuroda Takako, director:
- She is by Japanese nationality.
- Embarked upon his career to present field as a in her mid 20's.
Currently active in SC's day-to-day operations & is responsible for
its management.
Registered residential address: Same as Lam Tat Hong Franklin.
Credit history
check : This refers to a check of our
database whether the said person has been involved in any of the following
records stored by us within the last 6 years:
Civil
litigation as defendants : None in our database
Bankruptcy/winding-up
petitions : None in our database
Delinquent
payment records : None in our database
Debt
collection records : No overdue amount owed by the said person was
placed to us for collection
Ownership background appraisal:
Rating : 3 Obtained scores : 58 (see explanatory notes below)
Keys : 1 : scores
81-100 : Excellent
2
: scores 61-80 : Good
3
: scores 46-60 : Average
4
: scores 21-45 : Fair
5
: scores 01-20 : Poor
The rating indicates the personal financial & operational strength
of SC's major principals. It is
calculated from a composite of scores obtained from the following 5 factors
which carry equal weight in our analysis:
Personal financial strength, credit history & trade reputation,
business experience & track record, market connection and management skill.
Upon a current contact, Ms Yip, SC's accounting officer, declined
forwarding any financial information on the ground that it is the company's
policy not releasing any data to a third party without the benefit of knowing
the identity of the inquiring party.
As per current co. search, total amount of indebtedness of SC in respect
of all mortgages and charges which are required to be registered with Companies
Registry as at 20-5-2007 was nil.
Banking relations are maintained principally with: HSBC
This section will contain the civil litigations & winding-up
petitions filed against SC for the last 6 years (as stored in our database), and
the mortgage/charge records filed by SC for the last 2 years. In Hong Kong, creation of such
mortgages/charges by an unlimited co is not required to be registered in the
public records.
Civil litigation/winding-up petitions: (X) see below ( ) see attached sheet
Date :
26-10-2006
Defendant(s) : SC
Plaintiff(s) : Ngai Lik Properties Ltd
Cause of claim : Possession
Claimed amount : ANS
Mortgage/charge record(s): None filed since its incorporation date.
Overall payment appraisal:
( ) Excellent (
) Good (X) Average (
) Fair ( ) Poor
( ) Not yet determined
The appraisal serves as a reference to reveal SC's payments habits and
ability to pay. It is based on the 3
weighed factors: Trade payment
experience (through current enquiry with SC's suppliers), our delinquent
payment records and our debt collection record concerning SC.
Trade payment
experience: SC did not provide any name of
trade/service suppliers and we have no other sources to conduct the enquiry at
present.
Delinquent
payment record: None in our database.
Debt
collection record: No overdue amount owed by SC
was placed to us for collection within the last 6 years.
Business categories:
SC is engaged in manufacturing & export of jewellery.
Items available include necklace, rings, ear rings, etc (gold, diamond
gemstone)
Production is assigned to its affiliated factory/joint venture factory
located at Panyu, Guangzhou, Guangdong Province, PR China.
Principal purchases:
Major
types of sourcing : Raw
materials, parts & accessories
Local--type
of suppliers : Nil
Buying
terms : Nil
Overseas--supplying
countries : PR China
Buying
terms : L/C
& T/T
Principal market:
Local--type
of customers : Nil
Selling
terms : Nil
Overseas--buying
countries : USA & Europe
Selling
terms : L/C, T/T
& open account of 30 days special agreed terms
SC is not known to have any subsidiary at
present.
SC is considered small-sized in its line locally, a small amount of
credit should be granted with a periodic review.
-- Asset Tracing --
Upon our current investigation, our database & sources consulted
indicate that SC was not involved in any property transaction (both purchase
& disposal) in Hong Kong for the last 6 years.
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%)