MIRA INFORM REPORT
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Report Date : |
28.11.2008 |
IDENTIFICATION DETAILS
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Name : |
MIRA STYLE JEWELLERY CO LIMITED |
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Registered Office : |
Unit 410-411, 4/F., Heng Ngai Jewelry Centre, |
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Country : |
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Date of Incorporation : |
21.01.2000 |
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Com. Reg. No.: |
30652281 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer and Exporter of Precious
and semi-precious jewellery, etc. |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Name
MIRA STYLE
JEWELLERY CO. LTD.
ADDRESS
Unit 410-411, 4/F., Heng Ngai Jewelry Centre,
4 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.
PHONE: 2312 2148
FAX: 2312 6148
E-MAIL: info@mirastyle.com
MANAGEMENT
Managing Director: Mr. Cheung Kwok Hung
SUMMARY
Incorporated on: 21st
January, 2000.
Organization:
Private Limited Company.
Capital: Nominal: HK$1,000,000.00
Issued: HK$900,000.00
Business Category: Diamond Trader.
Annual Turnover: HK$60-65 million.
Employees:
35.
Main Dealing Banker:The Hongkong &
Shanghai Banking Corp. Ltd.,
Banking Relation: Satisfactory.
ADDRESS
Registered
Head Office:-
Unit 410-411, 4/F., Heng Ngai Jewelry Centre,
4 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.
BUSINESS REGISTRATION NUMBER
30652281
COMPANY FILE NUMBER
701886
MANAGEMENT
Managing Director: Mr. Cheung Kwok Hung
CAPITAL
Nominal Share Capital: HK$1,000,000.00
(Divided into 1,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$900,000.00
SHAREHOLDERS
(As per registry dated
21-01-2008)
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Name |
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No. of shares |
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WONG Kin Cheung, Ray |
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300,000 |
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CHOW Chi Yan |
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300,000 |
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CHEUNG Kwok Hung |
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300,000 |
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––––––– |
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Total: |
900,000 ====== |
DIRECTORS
(As per registry dated
21-01-2008)
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Name (Nationality) |
Address |
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CHOW Chi Yan |
5/F., |
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CHEUNG Kwok Hung |
Flat PH23D, Block 23, Forest Hill, 31 Lo |
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WONG Kin Cheung, Ray |
Flat G, 63/F., Tower 3, Metro Town, 8 King Ling Road, Tseung Kwan O,
New Territories, Hong Kong. |
SECRETARY
(As per registry dated
21-01-2008)
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Name |
Address |
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Faith Concept Asia Ltd. |
Room 1502, 15/F., |
866552 |
HISTORY
The subject was incorporated
on 21st January, 2000 as a private limited liability company under the Hong
Kong Companies Ordinance.
Apart from these, neither
material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer
and Exporter.
Lines: Precious
and semi-precious jewellery, etc.
Employees: 35.
Commodities Imported:
Markets: Europe,
Annual Turnover: HK$60-65 million.
Terms/Sales:
L/C, T/T, etc.
Terms/Buying:
As per contracted.
MEMBERSHIP
Hong Kong Jewellery & Jade Manufacturers
Association,
Hong Kong Jewelry Manufacturers’ Association,
The
Hong Kong General Chamber of Commerce,
[Membership No. HKM0451]
FINANCIAL INFORMATION
Nominal Share Capital: HK$1,000,000.00
(Divided into 1,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$900,000.00
Indebtedness:
HK$3,238,513.90 (Total amount
outstanding on all mortgages and charges as per last Annual Return dated
21-01-2008)
Mortgage or Charge: (See attachment)
Profit & Loss: Maintaining a small profit every year.
Condition: Business
is normal.
Facilities: Making
active use of general banking facilities.
Payment:
Met trade commitments on time.
Commercial Morality: Satisfactory.
Bankers
The Hongkong & Shanghai Banking Corp.
Ltd.,
China Construction Bank (Asia) Corporation
Ltd.,
Standing:
GENERAL
Having issued 900,000
ordinary shares of HK$1.00 each, Mira Style Jewellery Co. Ltd. is equally owned
by three
The subject mainly supplies
jewellery sets of diamond featuring gold and platinum. Its major markets are Europe, the
Raw materials are imported
from
The subject also manufactures
diamond jewellery in 18 karat gold and platinum for the worldwide market.
In 2004, the subject designed
and produced more products in European style that found ready markets in
In order to penetrate the
international market further, the subject has taken part in fairs and
exhibitions held in
·
JA
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Jewelers
Int’l Showcase,
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Jewelers
Int’l Showcase,
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GLDA
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AGTA
Gemfair in JCK
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JCK
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JA
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Jewelers
Int’l Showcase,
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JANY Special Delivery Show
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Vicenzaoro
First,
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Spring
Fair
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Int’l Jewellery
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HK Int’l
Jewellery Show
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HK Jewellery & Watch Fair
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JAA Jewellery Fair,
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Int’l Jewellery
The subject’s business is
chiefly handled by the three shareholders.
Annual sales turnover ranges from HK$60 to 65 million. Overall business is satisfactory.
The subject’s history in
On the whole, consider the subject good for
normal business engagements.
REMARKS
Court Cases: None
per our.
Property information of the company:-
1. Property
Location: Workshop Unit Nos. 10
& 11 (including Flat Roof) on 4/F.,
Heng Ngai Jewelry Centre (formerly known as Regent Centre),
4 Hok Yuen Street, Hunghom, Kowloon, Hong Kong.
Owner: Mira
Style Jewellery Co. 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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28-02-2005 |
- |
The Hongkong
& Shanghai Banking Corp. Ltd., |
Mortgage to
secure general banking facilities |
2. Property
Location: Private Car Parking Space
Nos. 6 & 7 on Lower Basement Floor,
Fu Hang Industrial Building, 1 Hok Yuen Street East, Kowloon, Hong Kong.
Owner: Mira
Style Jewellery Co. 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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15-06-2005 |
- |
The Hongkong
& Shanghai Banking Corp. Ltd., |
Mortgage to
secure general banking facilities |
MORTGAGE OR CHARGE
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Date |
Particulars |
Amount |
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02-05-2000 |
Instrument: Security
Over Deposits Property: First fixed charge of all moneys in any currency or currencies now or
at any time standing to the credit of every account of whatever nature now or
at any time opened/or maintained in the Chargor’s name with the Bank with any
of its branches and office and all interest accrued and accruing in the
future on such amounts including all subsequent renewal of deposits whether
or not evidenced by the same deposit receipt or such deposit and whether or
not re-designated or re-numbered Mortgagee: Bank
of |
To secure all
moneys, obligations and liabilities whether actual or contingent now or at
any time hereafter due owing or incurred by Mira Style Jewellery Co. Ltd. |
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07-03-2001 |
Instrument: Security
Over Deposits and/or Gold Accounts (Limited Company – Under Seal) Property: Deposit No. 068-390988-838 Mortgagee: The
Hongkong & Shanghai Banking Corp. Ltd., |
To secure all
monies in respect of banking facilities |
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28-02-2005 |
Instrument: Mortgage Property: 60/4,978th parts or shares of and in Section D of Kowloon Marine Lot
No. 113 [Workshop Unit Nos. 10 & 11 (including Flat Roof) on 4/F. of Heng
Ngai Jewelry Centre (formerly known as Regent Centre), Mortgagee: The
Hongkong & Shanghai Banking Corp. Ltd., |
All sums |
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15-06-2005 |
Instrument: Mortgage Property: 4/3,442nd parts or shares of and in Section A of Kowloon Marine Lot
No. 113 (Private Car Parking Space Nos. 6 & 7 on Lower Basement Floor of
Fu Hang Industrial Building, 1 Hok Yuen Street East, Kowloon, Hong Kong.) Mortgagee: The
Hongkong & Shanghai Banking Corp. Ltd., |
To secure all
sums in respect of 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%)