MIRA
INFORM REPORT
|
Report Date : |
15.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
GOLDMART JEWELRY
LTD. |
|
|
|
|
Registered Office : |
Room 307, 3/F., Block A, Focal Industrial Centre, 21 Man Lok Street,
Hunghom, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
14.09.1995. |
|
|
|
|
Com. Reg. No.: |
19474220 |
|
|
|
|
Legal Form : |
Private Limited Company. |
|
|
|
|
Line of Business : |
Importer and Exporter of all kinds of Diamonds and Jewellery Products, Precious Stones, etc. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
name of the company
GOLDMART
JEWELRY LTD.
ADDRESS
Room 307, 3/F., Block
A, Focal Industrial Centre, 21 Man Lok Street, Hunghom, Kowloon, Hong Kong.
PHONE: 2366 8959
FAX: 2723 3937
E-MAIL: goldmart@jew.com.hk
MANAGEMENT
Managing
Director: Mr. Leung Kim Man, Simon
SUMMARY
Incorporated on: 14th September, 1995.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Jewellery Trader.
Annual Turnover: HK$30-35 million.
Employees: 13. (Hong Kong)
Main Dealing Banker: Bank of China (Hong Kong) Ltd., Hong Kong.
Banking Relation: Good.
ADDRESS
Registered Head Office:-
Room 307, 3/F.,
Block A, Focal Industrial Centre, 21 Man Lok Street, Hunghom, Kowloon, Hong
Kong.
China Factory:
Guangzhou, Guangdong Province, China.
BUSINESS REGISTRATION NUMBER
19474220
COMPANY FILE NUMBER
525458
MANAGEMENT
Managing
Director: Mr. Leung Kim Man, Simon
Director &
Manager: Mr. Leong Man Fai, Philip
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 14-09-2008)
|
Name |
|
No. of shares |
|
LEUNG Kim Man |
|
6,000 |
|
LEONG Man Fai |
|
4,000 |
|
|
|
–––––– |
|
|
Total: |
10,000 ===== |
DIRECTORS
(As per registry dated 14-09-2008)
|
Name (Nationality) |
Address |
|
LEUNG Kim Man |
Room 307, 3/F., Block A, Focal Industrial
Centre, 21 Man Lok Street, Hunghom, Kowloon, Hong Kong. |
|
LEONG Man Fai |
Room 307, 3/F., Block A, Focal Industrial Centre,
21 Man Lok Street, Hunghom, Kowloon, Hong Kong. |
SECRETARY
(As per registry dated 14-09-2008)
|
Name |
Address |
Co. No. |
|
WKL
Services Ltd. |
20/F., Ka Wah Bank Centre, 232 Des Voeux Road Central, Hong Kong. |
981341 |
HISTORY
The subject was
incorporated on 14th September, 1995 as a private limited liability company
under the Hong Kong Companies Ordinance.
Originally the
subject was registered under the name of Sharp Harvest International Ltd., name
changed to Goldmine Jewellery (International) Ltd. on 21st December, 1995, and
further changed to the present style on 27th December, 1996.
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, precious stones, etc.
Employees: 13. (Hong Kong)
150. (China)
Materials/Commodities: India, Belgium, other European countries, etc.
Markets: Asian countries, US, Europe, etc.
Annual Turnover: HK$30-35 million.
Terms/Sales: L/C,
T/T, etc.
Terms/Buying: Various
terms.
MEMBERSHIP
Hong Kong
Jewellery & Jade Manufacturers Association, Hong Kong.
Hong Kong Jewelry
Manufacturers’ Association, Hong Kong.
The Hong Kong General Chamber of Commerce, Hong Kong.
[Membership No. HKG0054]
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
Mortgage or Charge: (See attachment)
Profit & Loss: Making a small profit every year.
Condition: Keeping in an active state.
Facilities: Making active use of general banking facilities.
Payment: So far so good.
Commercial Morality: Good.
Banker: Bank of China (Hong Kong) Ltd., Hong Kong.
Standing: Good.
GENERAL
Having issued
10,000 ordinary shares of HK$1.00 each, Goldmart Jewelry Ltd. is jointly owned
by Mr. Leung Kim Man, holding 60% interest, and Mr. Leong Man Fai, holding
40%. They are also directors of the
subject.
The subject is a
diamond and jewellery products trader.
It is specialised in fine jewellery and products. It provides worldwide customers with stylish
and exquisite diamond jewellery in platinum, 18K and 14K gold. Raw materials and rough diamonds are
imported from India, Belgium and other European countries.
The subject has
set up a factory in Guangzhou, Guangdong Province, China employing about 150
persons. Products, such as bracelets,
brooches, earrings, necklaces, rings, pendants, are exported to Europe, the
Middle East, North America, etc.
Annual sales
ranges from HK$30 to 35 million, overall business is satisfactory.
The business of
the subject and its factory is chiefly handled by the two shareholders.
On the whole,
consider the subject good for normal business engagements.
REMARKS
Court Cases: None per our.
Property
information of the company:-
Property Location: Workshop Unit No. 7 on 3/F. of
Block A, Focal Industrial Centre, 21 Man Lok Street, Kowloon, Hong Kong.
Owner: Goldmart Jewelry Ltd.
Date of
Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount
Consideration |
Mortgagee |
Nature |
|
28-02-1997 |
- |
Sin Hua Bank Ltd., Hong Kong Branch. [Merged into Bank of China (Hong Kong) Ltd.] |
Legal charge to secure general banking facilities |
MORTGAGE OR CHARGE
|
Date |
Particulars |
Amount |
|
28-02-1997 |
Instrument: Legal
Charge Property: 11/3,371st parts or shares of and in
Section C of Kowloon Marine Lot No. 113 (Workshop Unit No. 7 on 3/F. of Block
A of Focal Industrial Centre, 21 Man Lok Street, Hunghom, Kowloon, Hong
Kong.) Mortgagee: Sin Hua Bank Ltd., Hong Kong
Branch. |
To secure general banking facilities |
|
13-07-1998 |
Instrument: Deed
of Charge on Deposit and Set-Off Property: Deposit of HK$1,000,000 Mortgagee: Sin Hua Bank Ltd., Hong Kong
Branch. |
To secure all monies and liabilities, actual or contingent |
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.43 |
|
UK Pound |
1 |
Rs.84.54 |
|
Euro |
1 |
Rs.65.91 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)