MIRA
INFORM REPORT
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Report Date : |
19.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
NELSON JEWELLERY
ARTS CO. LTD. |
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Registered Office : |
2/F., Guardforce Centre, 3 Hok Yuen Street East, Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
30.06.1981 |
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Com. Reg. No.: |
9311761 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Retailer and Exporter of all kinds of Jewellery products including 14K and 18K gold fine diamond jewellery with gem-stone settings, precious stone jewellery, platinum jewellery and South Sea pearl jewellery. |
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 : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name of the company
NELSON
JEWELLERY ARTS CO.
LTD.
ADDRESS
2/F., Guardforce
Centre, 3 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.
PHONE: 2362 2888, 2362 2333
FAX: 2764 4028
E-MAIL: info@nelson-jewellery.com
MANAGEMENT
Managing
Director: Mr. Ho Chi Kai, Nelson
SUMMARY
Establishment: 30th June, 1981. (Partnership)
Incorporated on: 2nd November, 1984.
Organization: Private Limited Company.
Capital: Nominal: HK$1,000,000.00
Issued: HK$1,000,000.00
Business Category: Jewellery Merchant.
Annual Turnover: HK$400~500 million.
Group Employees: Over 3,000.
Main Dealing Bankers: Hang Seng Bank Ltd., Hong Kong.
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Good.
ADDRESS
Registered Head Office:-
2/F., Guardforce Centre, 3 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong.
Overseas Offices/Factories:-
Los Angeles Office
Suite 300, Crown Plaza, 631 South Olive Street, Los Angeles, CA 90014, USA.
Tel: (1-213) 4893323
Fax: (1-213) 4891832
New York Office
Suite 608, 10 West 46th Street, New York, NY 10036, USA.
Tel: (1-212) 3988682
Fax: (1-212) 3988683
United Kingdom Office
Suite 305, The Jewellery Business Centre, 95 Spencer Street, Birmingham,
B18 6DA, UK.
Tel: (44) 01215234483
Fax: (44) 2081816439
Australia Office
Suite 9, Level 14, 323-327 Pitt Street, Sydney 2000, Australia.
Tel: (61) 2-9283-5020
Fax: (61) 2-9283-9250
[Operated by Nelson (Aust.) J.A. Pty. Ltd.]
Thailand Head Office
322/22 14th Floor, Surawong Watthanakarn, Build Surawong Road, Sipraya
Bangrak, Bangkok 10500, Thailand.
Tel: (66-2) 2671222-5
Fax: (66-2) 2671221
Thailand Diamond Factory
Gemopolis Industrial Estate, 47/11 Moo 4 Sukhapiban, 2 Road Prawes, Bangkok
10260, Thailand.
Tel: (66-2) 7270176-80
Fax: (66-2) 7270181
China Panyu Factory
No. 18, Jie-Jin 2 Road, Shatou Town, Panyu City, Guangdong Province, China
511490.
Tel: (86-20) 84871571
Fax: (86-20) 84871517
[Operated by Pan-Hua Nelson Jewellery Arts Co. Ltd.]
China Longmen Factory
Communication
Building, Right Side Xilin Bridge, Xiangbin East Road, Longcheng Town, Longmen
County, Huizhou City, Guangdong Province, China 516800.
Tel: (86-752)
7788299
Fax: (86-752)
7789477
[Operated by Long-Men Nelson Jewellery Co. Ltd.]
Affiliated Companies:-
A & N Co. Pty.
Ltd., Australia.
China Diamond
Production Co. Ltd., Hong Kong.
Long-Men Nelson
Jewellery Co. Ltd., China.
Nelgold Ltd., Hong
Kong.
Nelson (Aust.)
J.A. Pty. Ltd., Australia.
Pan-Hua Nelson
Jewellery Arts Co. Ltd., China.
Sun Hing Diamond
Co. Ltd., Thailand.
BUSINESS REGISTRATION NUMBER
9311761
COMPANY FILE NUMBER
143110
MANAGEMENT
Managing
Director: Mr. Ho Chi Kai, Nelson
General
Manager: Mr. Michael Luk
CAPITAL
Nominal Share Capital:
HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)
Issued Share
Capital: HK$1,000,000.00
SHAREHOLDERS
(As per registry dated 02-11-2007)
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Name |
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No. of shares |
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CHUNG Yuk Wah,
Christina |
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1 |
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HO Chi Kai, Nelson |
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999,999 |
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–––––––– |
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Total: |
1,000,000 ======= |
DIRECTORS
(As per registry dated 02-11-2007)
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Name (Nationality) |
Address |
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HO Chi Kai,
Nelson |
2/F., Guardforce Centre, 3 Hok Yuen Street
East, Hunghom, Kowloon, Hong Kong. |
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CHUNG Yuk Wah,
Christina |
2/F., Guardforce Centre, 3 Hok Yuen Street
East, Hunghom, Kowloon, Hong Kong. |
SECRETARY
(As per registry dated 02-11-2007)
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Name |
Address |
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HO
Yiu Leung |
2/F., Guardforce Centre, 3 Hok Yuen Street East, Hunghom, Kowloon,
Hong Kong. |
HISTORY
The subject was
originally established on 30th June, 1981 as a partnership concern jointly
owned by Mr. Ho Chi Kai and Mr. Chow Lap Koon under the name of Nelson Jewellery
Arts Company. Re-organized and
incorporated on 2nd November, 1984 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, Retailer and Exporter.
Lines: All kinds of jewellery
products including 14K and 18K gold fine diamond jewellery with gem-stone
settings, precious stone jewellery, platinum jewellery and South Sea pearl
jewellery.
Trade Mark: “NELSON” brand.
Office Floor
Space: 30,000 sq.ft. – owned by
affiliate.
Group Employees: Over 3,000.
Commodities
Imported: Imported from South Africa, Belgium, Israel and other European
countries.
Markets: Hong Kong, Japan, Southeast Asia,
USA, Europe, Middle East, Australia, etc.
Annual Turnover: HK$400~500 million.
Terms/Sales: As
per contracted.
Terms/Buying: On
various terms.
MEMBERSHIP
Diamond Federation
of Hong Kong, China Ltd., Hong Kong.
Federation of Hong
Kong Industries, Hong Kong.
Hong Kong &
Kowloon Gold & Silver Ornaments Workers & Merchants General Union,
Hong Kong.
Hong Kong
Jewellery & Jade Manufacturers Association, Hong Kong.
Hong Kong Jewelry
Manufacturers’ Association, Hong Kong.
Jewelers Board of
Trade, USA.
The Chinese
General Chamber of Commerce, Hong Kong.
The Chinese
Manufacturers’ Association of Hong Kong, Hong Kong.
The Hong Kong General Chamber of Commerce,
Hong Kong.
[Membership No. HKN0124]
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$1,000,000.00
Mortgage or
Charge: (See attachment)
Profit & Loss: Traded at a profitable angle.
Condition: Maintaining in a normal and
satisfactory manner.
Facilities: Making active use of general
banking facilities.
Payment: Met as contracted.
Commercial
Morality: Satisfactory.
Bankers:-
Hang Seng Bank
Ltd., Hong Kong.
The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Standard Chartered
Bank (Hong Kong) Ltd., Hong Kong.
The Bank of Nova
Scotia, Hong Kong Branch.
Industrial &
Commercial Bank of China (Asia) Ltd., Hong Kong.
Standing: Normal.
GENERAL
Nelson Jewellery
Arts Co. Ltd. was founded by Mr. Nelson Ho Chi Kai in 1981. It has expanded from a local sub-contractor
to a major diamond and gold jewellery manufacturer.
The subject is one
of the leading manufacturers and exporters of diamond and jewellery products in
the global market. Its is engaged in
manufacturing, marketing and exporting of fine jewellery. It is also trading in fine diamond and
gemstone jewellery, set in platinum and/or gold.
In 1996, the
subject became the first jewellery manufacturer got “The Hong Kong Award
for Industry: HKPC Productivity”. Mr.
Nelson Ho was also bestowed the title of “The Young Industrialist of Hong Kong”
award in 1998 as public recognition of his achievements in management and
contribution to Hong Kong’s jewellery industry. Furthermore, Mr. Nelson Ho also received the “Top Ten Business
Maker Award” in 2000 for his extraordinary accomplishments in exploring the
international market.
Having a diamond
polishing factory in Bangkok, the subject fully controls the quality and
quantity of its diamond products.
Additionally, its three large jewellery factories in China and Hong Kong
are equipped with high technology to maximize its productivity. All of the products are ISO 9001:2000
certified.
The subject’s
operations are backed up by a number of overseas sales offices in New York, Los
Angeles, Australia, Germany and the United Kingdom. The subject is a supplier to many international jewellery
importers and wholesalers, as well as a direct marketer of its own product
lines. It has got about 3,000 employees
including factory workers and overseas offices. It is best known for its quality diamond bridal and fashion
jewellery products.
The subject has
been a market leader in the jewellery manufacturing industry for many
years. In 1995, the subject innovated
the utilisation of laser welding technology and the wax setting technique to
enhance productivity. It also has
adopted the CAD/CAM model-making technology for automating its design
processes.
In 2000, Mr.
Nelson Ho invested more than US$2 million to introduce the world’s premier
SAP-ERP Enterprise Resource Management System, making the subject the first
company in the world to apply the system in the jewellery industry.
The annual sales
turnover of the subject is very significant.
On the whole,
consider the subject good for normal business engagements.
REMARKS
Court Cases: None per our.
Property
information of affiliate:-
Property Location:
2/F., Guardforce Centre, 3 Hok Yuen Street East, Kowloon, Hong Kong.
Owner: Nelgold Ltd.
Date of
Purchase: 18-02-1998
Purchased
Price: HK$28,000,000 pt.
Incumbrances:-
|
Date of Mortgage |
Amount
Consideration |
Mortgagee |
Nature |
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18-02-1998 |
- |
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
Mortgage to secure general banking facilities |
MORTGAGE OR CHARGE
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Date |
Particulars |
Amount |
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02-05-2000 |
Instrument: Charge
Over Deposits Property: By way of fixed charge and release to The
Bank of Nova Scotia all their present future rights in the respect of: (a)
the sum deposited by Nelson Jewellery Arts Co. Ltd. or for their benefit in the
account or as evidenced by the deposit instrument or other evidence of
indebtedness; and (b) all other sums in any currency from time to time
standing to Nelson Jewellery Arts Co. Ltd.’s credit or the credit of any
other persons for their benefit on any deposit account Mortgagee: The
Bank of Nova Scotia, Hong Kong Branch. |
All banking facilities or other accommodation or services |
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27-11-2006 |
Instrument: Security
Over Deposits with The Bank (Limited Company – Under Seal) Property: All monies for the time being standing to
the credit of the deposit account No. 009-206251-003 Mortgagee: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
To secure general banking facilities |
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17-09-2007 |
Instrument: Security
over Deposit in respect of Obligations of the Depositor Property: By way of first fixed charge to the
Chargee the account No. 861600024557 Mortgagee: Industrial
& Commercial Bank of China (Asia) Ltd., Hong Kong. |
All monies and liabilities, present or future, actual or contingent |
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.68 |
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UK Pound |
1 |
Rs.84.37 |
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Euro |
1 |
Rs.65.70 |
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%)