MIRA
INFORM REPORT
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Report Date : |
15.10.2008 |
IDENTIFICATION
DETAILS
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Correct Name : |
CHETE LTD. |
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Registered Office : |
Suite 707, 7/F., Harbour Centre, Tower II, 8 Hok Cheung Street,
Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
23.09.1998. |
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Com. Reg. No.: |
22084098 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer and Exporter 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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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 |
Report on
CHETE LTD.
Address
Suite 707, 7/F., Harbour Centre, Tower II,
8 Hok Cheung Street, Hunghom,
Kowloon, Hong Kong.
Note:
This is to answer your enquiry on:
Diamonte Trading Co
[DIAMONTE]
31F (E) Towers 6 Villa Verde
No 8 Laguna Verde Avenue
Hunghom Kowloon
Hong Kong
Please be advised there is no such a firm known as “Diamonte Trading Co.” registered with the Hong Kong Government. However, we found a firm exactly known as “Diamonte”, operated by Chete Ltd., set up on 1st February, 2001 under Business Registration No. 22084098-001. However, Diamonte ceased business formally on 21st September, 2002. Besides, Diamonte was not located at your given address “31F (E), Tower 6, Villa Verde, No. 8 Laguna Verde Avenue, Hunghom, Kowloon, Hong Kong”. It was located at the same office as its parent Chete Ltd. which is the above-mentioned one. It is therefore, we are not sure whether “Diamonte Trading Co.” was operated by Chete or not. Notwithstanding the uncertainty, a report on Chete Ltd. is compiled for your reference.
name of the company
CHETE LTD.
ADDRESS
Suite 707, 7/F., Harbour Centre, Tower II, 8 Hok Cheung Street, Hunghom, Kowloon, Hong Kong.
PHONE: 2362 6300
FAX: 2362 6933
E-MAIL: info@chete.com
MANAGEMENT
Managing Director: Mr. Tang Chi Man, Ronald
SUMMARY
Incorporated on: 23rd September, 1998.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$100.00
Business Category: Jewellery Trader.
Employees: 25. (Hong Kong)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Head Office:-
Suite 707, 7/F., Harbour Centre, Tower II, 8 Hok Cheung Street, Hunghom, Kowloon, Hong Kong.
BUSINESS REGISTRATION NUMBER
22084098
COMPANY FILE NUMBER
655237
MANAGEMENT
Managing Director: Mr. Tang Chi Man, Ronald
CAPITAL
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$100.00
SHAREHOLDERS
(As per registry
dated 23-09-2007)
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Name |
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No. of shares |
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Diamondlite International Ltd., Hong Kong. |
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11 |
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PAJ Macao Commercial Offshore Ltd. Alameda Dr. Carlos D’ Assumpcao No. 180, 10 Andar, V10 Edif. Tong Nam Ah Commercial, Macau. |
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40 |
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Shay Cohen |
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49 |
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––– |
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Total: |
100 === |
DIRECTORS
(As per registry dated
23-09-2007)
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Name (Nationality) |
Address |
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CHEN Yuan Chi, Felix |
48-12 Spyglass Dallas, TX 75287, USA. |
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LAU Wai Kit |
Suite 03, 31/F., Kwong Sun House, Kwong Ming Court, Tseung Kwan O, Kowloon, Hong Kong. |
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TANG Chi Man |
Room 1008, 10/F., Block B, Healthy Garden, 560 King’s Road, North Point, Hong Kong. |
SECRETARY
TANG Chi Man (As per
registry dated 23-09-2007)
HISTORY
The subject was incorporated on 23rd September, 1998 as a private limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of East Royal Ltd., name changed to Chete & Laroche (Hong Kong) Ltd. on 11th November, 1998 and further to the present style on 2nd August, 2007.
Apart from these, neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer and Exporter.
Lines: All kinds of diamonds and jewellery products, emerald, precious stones, etc.
Employees: 25. (Hong Kong)
2,500. (China)
Materials/Commodities: India, Belgium, other European countries, etc.
Markets: Japan, India, other Asian countries, Europe, US, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)
Issued Share Capital: HK$100.00
Profit & Loss: Making a small profit.
Condition: Keeping in a normal state.
Facilities: Adequate for current running.
Payment: Met trade commitments on time.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
GENERAL
Diamonte was operated by Chete Ltd. which is a Hong Kong-registered firm. However, Diamonte ceased business formally on 21st September, 2002.
Having issued 100 ordinary shares of HK$1.00 each, Chete Ltd. is jointly held by Diamondlite International Ltd. [Diamondlite], a Hong Kong-registered firm holding 11% interest; PAJ Macao Commercial Offshore Ltd., a Macau-based firm holding 40%; and Mr. Shay Cohen, holding 49%. Diamondlite is located at the operating office of the subject.
The subject is a diamond, gem stone, silver, gold and jewellery product trader. Main products are CZ, diamond and semi-precious and syn stones, 10K and 14K gold jewellery with CZ, etc.
Raw materials are imported from India, Belgium and other European countries. Gem stones and diamonds are processed, polished and cut in its affiliated factory in Guangzhou, Guangdong Province, China. It is reported that the factory is employing about 2,500 persons. Finished products are exported to Japan, other Asian countries, Europe, North America, etc. Business is rather steady.
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.
It is likely that the subject has got an affiliated company in the United States.
The annual sales turnover of the subject is significant.
On the whole, consider the subject good for normal business engagements.
COURT CASES: None per our records.
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%)