MIRA
INFORM REPORT
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Report Date : |
14.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
AUROSTYLE LTD. |
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Formerly Known as : |
BORAL CO. LTD |
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Registered Office : |
Unit 505-506, 5/F., Harbour Centre, Tower 1, 1 Hok Cheung Street,
Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
12.05 1987 |
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Com. Reg. No.: |
11012907 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Manufacture and Exporter of All kinds of Jewellery and
Precious Stones. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
name of the company
AUROSTYLE LTD.
(Trading as FASHION HOUSE JEWELRY)
Address
Unit 505-506, 5/F., Harbour Centre, Tower 1,
1 Hok Cheung Street, Hunghom,
Kowloon, Hong Kong.
(Your enquiry given as: AURO STYLE LTD of the same addrerss. )
PHONE: 2765 6388
FAX: 2765 0334
E-MAIL: factory@aurostyle.com.hk
MANAGEMENT
Managing Director: Mr. Christophe Joseph Pontus
SUMMARY
Incorporated on: 12th May, 1987.
Organization: Private Limited Company.
Capital: Nominal: HK$3,910,000.00
Issued: HK$3,910,000.00
Business Category: Jewellery and Diamond Trader.
Annual Turnover: HK$350-400 million.
Employees: 100. (Hong Kong)
Main Dealing Banker: Calyon, Hong Kong Branch.
Banking Relation: Satisfactory.
ADDRESS
Registered Head
Office:-
Unit 505-506, 5/F., Harbour Centre, Tower 1, 1 Hok Cheung Street, Hunghom, Kowloon, Hong Kong.
Sales Office:-
Flat 8, 1/F., Hilder Centre, 2 Sung Ping Street, Hunghom, Kowloon, Hong Kong.
[ Tel 2330 1832
Fax: 2330 1331
E-mail: sales@aurostyle.com.hk]
China Factory: Guangzhou, Guangdong Province, China.
Holding Company:-
Christian Bernard Diffusion S.A., France.
Operating Company:-
Fashion House Jewelry, Hong Kong.
BUSINESS REGISTRATION NUMBER
11012907
COMPANY FILE NUMBER
188792
MANAGEMENT
Group President: Mr. Bernard Nguyen
Group Chief Executive Officer: Mr. Damien Verrier
Managing Director: Mr. Christophe Joseph Pontus
Director & Sales Manager: Ms. Chan Suk Kwan, Adeline
CAPITAL
Nominal Share Capital: HK$3,910,000.00 (Divided into 3,910,000 shares of HK$1.00 each)
Issued Share Capital: HK$3,910,000.00
SHAREHOLDERS
(As per registry
dated 12-05-2008)
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Name |
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No. of shares |
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Christian Bernard Diffusion S.A. 1 Rue Lulli, 75002 Paris, France. |
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3,909,999 |
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Christophe Joseph PONTUS |
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1 |
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–––––––– |
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Total: |
3,910,000 ======= |
DIRECTORS
(As per registry
dated 12-05-2008)
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Name (Nationality) |
Address |
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Bernard NGUYEN |
53 Route de Forestal, 1285 Athenaz - Avusy, Geneve, Switzerland. |
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Guy M. L. PEEMANS |
Villa 3, Long Thanh My ward, District 9, Ho Chi Minh City, Vietnam. |
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Christophe Joseph PONTUS |
8A, Block 8, Parc Palais, 18 Wylie Road, Yaumatei, Kowloon, Hong Kong. |
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Damien VERRIER |
36 Rue de la Pesse, 74940 Annecy-Le-Vieux, France. |
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CHAN Suk Kwan |
1/F., Hoi Wan Building, 25 Hoi Wan Street, Quarry Bay, Hong Kong. |
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Laurent Maurice FALVERT |
19A, ch de Carabot, 1233 Bernex, Switzerland. |
SECRETARY
(As per registry
dated 12-05-2008)
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Name |
Address |
Co. No. |
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McCabe Secretarial Services Ltd. |
29/F., Wing On Centre, 111 Connaught Road Central, Hong Kong. |
95390 |
HISTORY
The subject was incorporated on 12th May, 1987 as a private limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Boral Co. Ltd., name changed to the present style on 7th August, 1987.
Formerly the subject’s registered head office was located at Unit 1005-1007, 10/F., Harbour Centre, Tower 1, 1 Hok Cheung Street, Hunghom, Kowloon, Hong Kong, moved to Unit 505-506, 5/F. of the same building in July 2006. With effect from 5th January, 2007, its sales office was moved to the present address from Unit 705, 7/F., Harbour Centre, Tower 1, 1 Hok Cheung Street, Hunghom, Kowloon, Hong Kong.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities:
Lines: All kinds of jewellery and precious stones.
Employees: 100. (Hong Kong)
Commodities Imported: India, Belgium Israel, etc.
Markets: Europe, US, Japan, Australia, South Africa, etc.
Annual Turnover: HK$350-400 million.
Terms/Sales: L/C or as per contracted.
Terms/Buying: L/C, T/T, etc.
MEMBERSHIP
Hong Kong Jewellery & Jade Manufacturers Association, Hong Kong.
Hong Kong Jewelry Manufacturers’ Association, Hong Kong.
The French Chamber of Commerce & Industry in Hong Kong.
The Hong Kong General
Chamber of Commerce, Hong Kong.
[Membership No. HKA0446]
FINANCIAL INFORMATION
Nominal Share Capital: HK$3,910,000.00 (Divided into 3,910,000 shares of HK$1.00 each)
Issued Share Capital: HK$3,910,000.00
Indebtedness: US$607,496.02 (Total amount outstanding on all mortgages and charges as per last Annual Return dated 12-05-2008)
Mortgage or Charge: (See attachment)
Profit & Loss: Business is profitable.
Condition: Keeping in an active state.
Facilities: Making very active use of general banking facilities.
Payment: So far so good.
Commercial Morality: Good.
Bankers:-
Calyon, Hong Kong Branch.
The Bank of Nova Scotia, Hong Kong Branch.
East Asia GE Commercial Finance Ltd., Hong Kong.
Standing: Normal.
GENERAL
Having issued 3,910,000 ordinary shares of HK$1.00 each, Aurostyle Ltd. is a wholly-owned subsidiary of Christian Bernard Diffusion S.A. which is a France-based firm. The subject’s business name is “Fashion House Jewelry”.
Founded in 1987, the subject is one of the prominent manufacturers and exporters of fine jewellery based in Hong Kong.
The subject operates its R&D, Design, Production and Distribution activities worldwide and specializes in gold and silver jewellery, set with diamonds, pearls, precious, semi-precious stones or cubic zirconia. Besides a wide range of prices and styles for ladies, men and kids, the subject also offers OEM and personalized services.
Supported by a workforce of over 2,000 professionals in China, the subject has got a factory in Guangzhou, Guangdong Province, China. Its products are distributed to importers, wholesalers, department stores and chain stores in over 30 countries across 6 continents.
The subject is able to produce more than 3,000 different styles of products. Each type sold at a specific price range and aims at certain target markets. The elegant and modern collection is shown in 9K, 10K, 14K and 18K gold and silver, set with diamond, pearls, precious stones, semi-precious stones and cubic zirconia.
The subject exports all its products and can be found at major international trade fairs. In order to penetrate the international market further, the subject has taken part in fairs and exhibitions held in Hong Kong and other foreign large cities such as the followings: Vicenza Oro I Belgium; Hong Kong International Jewellery Show, Hong Kong; Basel World Vicenza Oro II, Belgium; Hong Kong Jewellery & Watch Fair, Hong Kong; Vicenzaoro First, Italy; Basel, Switzerland; Vicenzaoro Charm, Italy; Vicenzaoro Choice, Italy; Junwex Moscow; Istanbul Jewelry Show I, Turkey; etc.
Annual sales turnover of the subject ranges from HK$350 to 400 million. Business is active and profitable. Regular customers have been maintained.
The subject is chiefly controlled by Christophe Joseph Pontus, a French who has been in Hong Kong for a very long time.
The International Sales Manager is Ms. Adeline Chan Suk Kwan who is a Hong Kong businesswoman.
The history of the subject in Hong Kong is over twenty one years.
On the whole, consider the subject good for normal business engagements.
COURT CASES: None per our.
MORTGAGE
OR CHARGE
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Date |
Particulars |
Amount |
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06-04-2000 |
Instrument: Charge Over Deposits Property: By way of fixed charge and release to The Bank of Nova Scotia all their present and future rights in respect of: (a) the sum; and (b) all other sums in any currency Mortgagee: The Bank of Nova Scotia, Hong Kong Branch. |
All banking facilities or other accommodation or services |
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07-11-2007 |
Instrument: Security Agreement relating to Receivables Property: a) A first fixed charge on all the Company’s Account Receivables including all moneys payable thereunder and all rights and claims of the Company in respect of each of the Account Receivables b) A first fixed charge on the benefit of all negotiable instruments, guarantees, bonds, debentures, legal or equitable charges and all other security, reservation of proprietary rights, rights of tracing, unpaid vendor’s liens and all other rights now or in future available to the Company c) A first fixed charged on all contracts and policies of insurance and assurance now or in the future held by or otherwise benefitting the Company and relating to the assets charged and all rights and interests of the Company d) A floating charge on all property and assets of the Company Mortgagee: East Asia GE Commercial Finance Ltd., Hong Kong. |
All money and liabilities |
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01-02-2008 |
Instrument: Collection Account Charge Property: A first fixed charge to the instrument and as continuing security on the Deposit (Account No. 072-873-530-00088-8) Mortgagee: East Asia GE Commercial Finance Ltd., Hong Kong. |
All money and liabilities |
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.46 |
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UK Pound |
1 |
Rs.73.17 |
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Euro |
1 |
Rs.62.96 |
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%)