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MIRA
INFORM REPORT
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Report Date : |
14.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
PAK
FOOK JEWELLERY GROUP
(HK) LTD. |
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Registered Office : |
Room 709, 7/F.,
Tower A, Hunghom Commercial Centre, 39 Ma Tau Wai Road, Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
21.02. 2001 |
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Com. Reg. No.: |
31617191 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Manufacturer,
Importer and Exporter of all kinds of Jewellery Products. |
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 of the company
PAK FOOK
JEWELLERY GROUP (HK)
LTD.
ADDRESS
Room 709, 7/F., Tower A, Hunghom Commercial Centre,
39 Ma Tau Wai Road, Hunghom, Kowloon, Hong Kong.
PHONE: 2367 9290
FAX: 2365 0020
E-MAIL: sales@pakfook.com
(Your enquiry given as: PAK FOOK JEWELLERY
GROUP HK LTD of the same address. )
MANAGEMENT
Managing Director: Mr. Lam Chuen
SUMMARY
Incorporated on: 21st February, 2001.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000,000.00
Issued: HK$100.00
Business Category: Manufacturer, Importer and Exporter.
Annual Turnover: HK$40-45 million.
Employees: 15. (Hong Kong)
Main Dealing Banker: Bank of China (Hong Kong) Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered
Head Office:-
Room 709, 7/F., Tower A, Hunghom Commercial
Centre, 39 Ma Tau Wai Road, Hunghom, Kowloon, Hong Kong.
China
Factory: Panyu, Guangzhou, Guangdong Province, China.
BUSINESS REGISTRATION NUMBER
31617191
COMPANY FILE NUMBER
747633
MANAGEMENT
Managing Director: Mr. Lam Chuen
CAPITAL
Nominal Share Capital: HK$10,000,000.00 (Divided
into 10,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$100.00
SHAREHOLDERS
(As
per registry dated 21-02-2008)
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Name |
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No. of shares |
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LAM Chuen |
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51 |
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LAU Chun |
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49 |
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––– |
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Total: |
100 === |
DIRECTORS
(As
per registry dated 21-02-2008)
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Name (Nationality) |
Address |
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LAM Chuen |
Flat C, 23/F., Tower 3, Tregunter, 14 Tregunter Path, Hong Kong. |
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LAU Chun |
Flat A, 3/F., Block 17, Provident Centre, Wharf Road, Hong Kong. |
SECRETARY
(As
per registry dated 21-02-2008)
|
Name |
Address |
Co. No. |
|
Best Power Management Ltd. |
Room 1401-1402,
14/F., The Centre Mark, 287-299 Queen’s Road Central, Hong Kong. |
789499 |
HISTORY
The subject was incorporated on 21st February,
2001 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: Manufacturer,
Importer and Exporter.
Lines: All
kinds of jewellery products.
Employees:
15. (Hong Kong)
180. (China)
Materials/Commodities:
Belgium, Israel, US, etc.
Markets: Worldwide.
Annual
Turnover: HK$40-45
million.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, etc.
MEMBERSHIP
Hong Kong Jewelry Manufacturers’ Association,
Hong Kong.
The
Hong Kong General Chamber of Commerce, Hong Kong.
[Membership No. HKP0410]
FINANCIAL INFORMATION
Nominal Share Capital: HK$10,000,000.00
(Divided into 10,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$100.00
Indebtedness: HK$788,971.00 (Total
amount outstanding on all mortgages and charges as per last Annual Return dated
21-02-2008)
Mortgage or Charge:-
Date of Mortgage: 24-11-2003
Amount: To
secure all moneys in respect of general banking facilities
Property: 28/12,841st
parts or shares of and in The Remaining Portion of Section O of Kowloon Marine
Lot No. 40 (Unit No. 9 on 7/F. of Tower A of Hunghom Commercial Centre, 39 Ma
Tau Wai Road, Kowloon, Hong Kong.)
Mortgagee: Bank
of China (Hong Kong) 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:
Bank of China (Hong Kong) Ltd., Hong Kong.
Standing:
Normal.
GENERAL
Having issued 100 ordinary shares of HK$1.00 each,
Pak Fook Jewellery Group (HK) Ltd. is jointly owned by Mr. Lam Chuen, holding
51% interest, and Mr. Lau Chun, holding 49%.
They are also directors of the subject.
The subject is a jewellery trader and
manufacturer.
Its production plant is in Panyu, Guangzhou,
Guangdong, China covering an area of over 20,000 sq.ft. Around 150 experienced craftsmen are
employed. The monthly production
capacity of the factory is over 3,000 pieces.
The subject serves all exporters,
manufacturers, wholesalers, departments stores and even every single
customer. The subject’s main products
are bangles, earrings, pendants, necklaces, men’s rings, ladies’ rings, cuff
links, brooches, bracelets, etc.
Raw materials are chiefly imported from
Belgium, Israel, the United States, etc.
Products are exported to Asian countries, Europe, the United States,
etc.
In order to penetrate the international
market further, the subject has taken part in fairs and exhibitions held in
Hong Kong, Switzerland, Dubai and other foreign large cities.
Annual sales turnover of the subject ranges
from HK$40 to 45 million. Business is
rather profitable.
On the whole, consider the subject good for
normal business engagements.
REMARKS
Court Cases: None
per our.
Property information of the company:-
Property Location: Unit No. 9 on 7/F. of Tower A, Hunghom
Commercial Centre,
39 Ma Tau Wai Road, Kowloon, Hong Kong.
Owner: Pak
Fook Jewellery Group (HK) 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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24-11-2003 |
- |
Bank of China
(Hong Kong) Ltd., Hong Kong. |
Mortgage 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.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%)