MIRA
INFORM REPORT
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Report Date : |
15.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
BRI-STAR JEWELLERS LTD. |
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Registered Office : |
Room 803, 8/F., Guardforce Centre, 3 Hok Yuen Street East,
Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
01.09. 2003. |
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Com. Reg. No.: |
33936092 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer, Importer, Exporter and Retailer of all kinds of Diamonds and Jewellery Products, Emerald, Precious Stones, 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 : |
No Complaints |
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Litigation : |
Clear |
name of the company
BRI-STAR JEWELLERS
LTD.
ADDRESS
Room 803, 8/F., Guardforce Centre, 3 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.
PHONE: 2180 8881
FAX: 2121 8884
E-MAIL: info@bri-star.com
sales@bri-star.com
MANAGEMENT
Managing Director: Mr. Yep Mau Koung, Ben
SUMMARY
Incorporated on: 1st September, 2003.
Organization: Private Limited Company.
Capital: Nominal: HK$100,000.00
Issued: HK$50,000.00
Business Category: Manufacturer, Importer, Exporter and Retailer.
Employees: 20. (Hong Kong)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head
Office:-
Room 803, 8/F., Guardforce Centre, 3 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.
The Landmark Flagship
Store:-
Town and Country
Shop 302 and 303, 3/F., The Landmark, Central, Hong Kong.
[Tel: 2522 3663; E-mail: info@townandcountryhk.com]
China Stores:-
Shenzhen Store &
Showroom
1A010, Jinli International Jewellery Exchange Centre, 48 Beili Road South,
Shenzhen, China. [Tel: (86-755)
2587 7820]
Guiyang Store
1/F., ZC Plaza, 2 Zhongshan Road East, Guiyang, Guizhou Province, China. [Tel: (86-851) 5861 438]
Kunming Store
1F-15, Vogue Plaza, 41 Tongren Street, Kunming, Yunnan Province, China. [Tel: (86-871) 3620 396]
China Factory: Foshan, Guangdong, China.
Holding Company:-
Great Allied Profits Ltd., British Virgin Islands.
Affiliated
Companies:-
Bri-Star Jewelry International Ltd., Hong Kong.
Bri-Star Jewelry Manufacturing Ltd., Hong Kong.
Smartrend (Hong Kong) Ltd., China.
Town and Country, Hong Kong.
Unique Design Inc., USA.
BUSINESS REGISTRATION NUMBER
33936092
COMPANY FILE NUMBER
859662
MANAGEMENT
Managing Director: Mr. Yep Mau Koung, Ben
General Manager: Mrs. Suda Yep
CAPITAL
Nominal Share Capital: HK$100,000.00 (Divided into 1,000,000 shares of HK$0.10 each)
Issued Share Capital: HK$50,000.00
SHAREHOLDERS
(As per registry
dated 01-09-2008)
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Name |
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No. of shares |
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Great Allied Profits Ltd. P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands. |
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499,999 |
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New Atlantic Assets Ltd. P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands. |
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1 |
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––––––– |
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Total: |
500,000 ====== |
DIRECTORS
(As per registry
dated 01-09-2008)
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Name (Nationality) |
Address |
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YEP Mau Koung |
Room 803, 8/F., Guardforce Centre, 3 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong. |
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Great Allied Profits Ltd. |
P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands. |
SECRETARY
(As per registry
dated 01-09-2008)
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Name |
Address |
Co. No. |
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Royal Honour Consultants Ltd. |
Unit B, 4/F., Eton Building, 288 Des Voeux Road Central, Hong Kong. |
764691 |
HISTORY
The subject was incorporated on 1st September, 2003 as a private limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Brilliant Star Jewellers Ltd., name changed to the present style on 7th April, 2005.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Manufacturer, Importer, Exporter and Retailer.
Lines: All kinds of diamonds and jewellery products, emerald, precious stones, etc.
Employees: 20. (Hong Kong)
1,500. (China)
Materials/Commodities: India, Belgium, other European countries, etc.
Markets: Japan, India, other Asian countries, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
MEMBERSHIP
Hong Kong Jewellery & Jade Manufacturers Association, Hong Kong.
Hong Kong Jewelry Manufacturers’ Association, Hong Kong.
FINANCIAL INFORMATION
Nominal Share Capital: HK$100,000.00 (Divided into 1,000,000 shares of HK$0.10 each)
Issued Share Capital: HK$50,000.00
Mortgage or Charge:-
Date of Assignment of Life Insurance: 19-03-2008
Amount: Secured Indebtedness
Property: (i) All the Assignor’s claims, options, privileges, right, title, interest and benefit in and under the Insurance; and (ii) all the Assignor’s claims and rights against the issuer of the Policy in respect of the Policy upon the terms herein set out as a continuing security for the due and punctual payment of the Secured Indebtedness and the due and punctual performance and observance by the Borrower (Bri-Star Jewelry Manufacturing Ltd.) of all other obligations of the Borrower contained in the Facility Letter
Mortgagee: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Profit & Loss: Maintaining a small profit every year.
Condition: Business is rather active.
Facilities: Making active use of general banking facilities.
Payment: Met as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
GENERAL
Bri-Star Jewellers Ltd. is a wholly-owned subsidiary of Great Allied Profits Ltd. which is a BVI-registered firm.
The subject is chiefly controlled by the Yep family. Director is Mr. Ben Yep Mau Koung who is a Hong Kong merchant.
The subject is a diamond and jewellery trader. Most of its products are designed by Ben Yep. The subject is a rather fast-growing and creative manufacturer and exporter of diamond and colour stone jewellery, mainly in 10K-18K gold, sterling silver and platinum.
The subject’s main factory is in Foshan, Guangdong, China, known as Smartrend (Hong Kong) Ltd. employing 1,500 persons.
With over 30 years of designing experience, Ben Yep, has launched a new line of fine jewellery, the BEN YEP Collection 2006. This collection has been aired on one of the largest TV network in the United Stated. Ben’s jewellery design career was first started in Hong Kong and quickly dot promoted as chief designer in a top jewellery manufacturer. In order to maximize his potential, he went to America where he became a GIA certified designer and gemmologist. After working for an internationally renowned luxury jeweller in New York, he started his own business in jewellery designing and manufacturing.
The subject’s sister company Unique Design Inc. [UD] is based in New York, the United States. UD is engaged in distributing jewellery and diamond products. Its customer base is the top 20 largest retail chain stores, department stores and TV shopping networks nationwide.
The subject also has got its own retailing shop in Hong Kong known as Town and Country. This shop is one of the earliest luxury jewellery shops in Hong Kong. Having a history of over 50 years, Town and Country now has moved to Shop 302 and 303, 3/F., The Landmark, Central, Hong Kong.
Besides the Hong Kong shop, the subject also has set up a showroom and retailing shop in Shenzhen Special Economic Zone, as well as a store in Guiyang City of Guizhou Province, and a store in Kunming of Yunnan Province.
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.
The subject’s annual sales turnover is rather significant.
On the whole, consider the subject good for normal business engagements.
COURT CASES: None per our.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.43 |
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UK Pound |
1 |
Rs.84.54 |
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Euro |
1 |
Rs.65.91 |
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%)