MIRA
INFORM REPORT
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Report Date : |
28.11.2008 |
IDENTIFICATION DETAILS
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Name : |
FOREVER JEWELS LTD. |
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Registered Office : |
Room 513, 5/F., |
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Country : |
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Date of Incorporation : |
08.10.2007 |
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Com. Reg. No.: |
38498102 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Manufacturer, Exporter and Wholesaler of all kinds of diamonds and jewellery products, emerald, precious stones, etc. |
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 : |
Regular |
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Litigation : |
Clear |
Name
FOREVER
JEWELS LTD.
ADDRESS
Room 513,
5/F.,
PHONE: 2316 7636
FAX: 2316 7936
E-MAIL: info@foreverjewels.com
MANAGEMENT
Managing
Director: Mr.
SUMMARY
Incorporated on: 8th October, 2007.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Diamond and Jewellery Trader.
Employees: 4.
Main
Dealing Banker: CITIC Ka Wah Bank Ltd.,
Banking Relation: Satisfactory.
ADDRESS
Registered Head Office:-
Room 513, 5/F.,
Affiliated Companies:-
Forever Jewels, Hong Kong. (Same address)
Forever Jewels Pte. Ltd.
[Tel: 65-6270 3278, 6577 2222; Fax: 65-6270 3588, 6272 7651]
BUSINESS REGISTRATION NUMBER
38498102
COMPANY FILE NUMBER
1173379
MANAGEMENT
Managing
Director: Mr.
Contact
Person: Ms.
CAPITAL
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
SHAREHOLDERS
(As per registry dated 09-10-2007)
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Name |
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No. of shares |
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Gold Regal
Development Ltd., |
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1 |
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4,999 |
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LIM Bee Teen |
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5,000 |
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–––––– |
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Total: |
10,000 ===== |
DIRECTORS
(As per registry dated 09-10-2007)
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Name (Nationality) |
Address |
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Flat C-5, 12/F., |
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LIM Bee Teen |
Flat C-5, 12/F., |
SECRETARY
(As per registry dated 08-10-2007)
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Name |
Address |
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Team Victoria Ltd. |
Room D, 3/F., |
712532 |
HISTORY
The subject was incorporated on 8th October, 2007 as a private limited liability company under the Hong Kong Companies Ordinance.
The subject moved to the present address in October 2007.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Manufacturer, Exporter and Wholesaler.
Lines: All kinds of diamonds and jewellery products, emerald, precious stones, etc.
Employees: 4.
Commodities
Imported:
Markets:
Annual Turnover: Too early to obtain figure.
Terms/Sales: L/C.
Terms/Buying: L/C.
FINANCIAL INFORMATION
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$10,000.00
Alternation of Capital:-
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08-10-2007 |
paid up |
HK$ 1.00 |
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09-10-2007 |
paid up |
HK$ 9,999.00 |
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––––––––––––– |
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Total: |
paid up |
HK$ 10,000.00 ============ |
Mortgage or Charge
Date of Legal Charge/Mortgage: 21-12-2007
Amount: to secure all moneys in respect of general banking facilities
Property: 23/616th parts or shares of and in The Remaining Portion of Kowloon Marine Lot Nos. 69 & 86, Section M of Kowloon Marine Lot No. 40 and The Remaining Portion of Section J of Kowloon Marine Lot No. 40 [Workshop A2 & F2 (including respective Roofs) on 12/F. of Hang Fung Industrial Building, Phase 2, 2G Hok Yuen Street, Hunghom, Kowloon, Hong Kong.]
Mortgagee: CITIC Ka Wah Bank Ltd.,
Profit & Loss: Too early to offer an opinion.
Condition: Business is improving.
Facilities: Making active use of general banking facilities.
Payment: Met as required.
Commercial Morality: Satisfactory.
Banker: CITIC
Ka Wah Bank Ltd.,
Standing:
GENERAL
Forever
Jewels Ltd. is equally owned by Mr. Chu Chiu Fai and Mr. Lim Bee Teen. The former is a Hong Kong merchant while the
latter is a Singaporean holding a
The subject is a jewellery manufacturer, exporter and wholesaler. It is specialised in stunning gem-set jewellery. Main products are the following items: bracelets, brooches, earrings, necklaces, pendants, rings, etc.
The
subject’s affiliated company Forever Jewels Pte. Ltd. [FJPL] is in
Headquartered
in
The
subject imports raw materials from
The
subject’s business in
In
order to penetrate the international market further, the subject has taken part
in fairs and exhibitions held in
FJPL’
business in
On
the whole, since the history of the subject is just over a year in
REMARKS
Court Cases: None per our.
Property information of the
company
Property
Location: Workshop A2 & F2
(including respective Roofs) on 12/F.,
Hang Fung Industrial Building, Phase 2, 2G Hok Yuen Street, Kowloon, Hong Kong.
Owner: Forever Jewels Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
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Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
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21-12-2007 |
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CITIC Ka Wah Bank Ltd., |
Legal charge to secure general banking facilities |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.84 |
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1 |
Rs.76.81 |
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Euro |
1 |
Rs.64.38 |
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%)