MIRA
INFORM REPORT
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Report Date : |
10.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
SPENCER DIAMONDS CO LTD |
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Registered Office : |
UNIT C 10FL Kaiser Estate - Phase 1 -
Block C & E 41 Man Yue St Hunghom Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
11.03.1988 |
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Com. Reg. No.: |
211568 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Local Purchasing of Diamond and Jewellery. Sales and Distribution of Purchased Products to Local and Overseas
Markets. |
RATING &
COMMENTS
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MIRAs Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
SPENCER DIAMONDS CO LTD
UNIT C 10FL KAISER ESTATE - PHASE 1 - BLOCK
C & E
41 MAN YUE ST HUNGHOM KOWLOON HONG KONG
TEL: 852-27741348 FAX: 852-27739913
EXECUTIVE SUMMARY
INCORPORATION DATE : MARCH 11, 1988
CHIEF EXECUTIVE :
MR. CHARLES CHI-WAI LUK (COMPANY DIRECTOR)
STAFF STRENGTH :
10
CAPITAL :
US$ 128,041
BUSINESS LINE : TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
FAIR
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
HKD 7.80129 = USD 1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD Hong Kong Dollars
*OTHER LICENSE*
===============
License Number : 11748508-000
Issuing Authority : Business Registration Office - Inland Revenue Dept
*Company History*
===============
1987 -
Formed a partnership with ESPEKA DIAMONDS LTD (EFD)
*Capital Details*
============
Authorized capital : HKD 1,000,000.00, divided into 1,000,000 ordinary
shares at HKD 1.00/-each, fully paid
*Office & Facilities*
================
Other Contact Details
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Tel no : 27662380
Fax no : 27739913
Email : sales@spencerdiamonds.com.hk
*Approved Signatures*
===================
Only Mr. Chung-yuen Choi can sign on behalf of the company with seal
affixed.
www.spencerdiamonds.com.hk
The design is professional and the content is well organized. At present it is
in English version.
E-mail: info@spencerdiamonds.com.hk
For the past 2 years there is no record of litigation.
*Major Shareholders*
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Total number of shareholders: 2
Total number of shares: 1,000,000
Shareholders Country Number Amount %
F D JEWELRY CO LTD Hong Kong 1.00 1.00 n/a
WINTON HOLDINGS LTD Hong Kong 999,999.00 999,999.00 100.00
*Company Secretary*
=================
HONGKONG MANAGERS & SECRETARIES LTD
C. R. number : 20984
Address : 26Fl Citicorp
Tower 18 Whitfiled Rd Causeway Bay Hong Kong
*COMPANY DIRECTOR*
===================
1
Name : Mr. Charles Chi-wai Luk
Nationality : Hong Kong
ID/Passport No. : A302012(9)
Registered Address : Flat A, 5Fl City Garden Shopping Center - Block 12,
233 Electric Rd ,Hong Kong
Country of Residence : Hong Kong
2
Name : Mr. Eli Kaufman
Nationality : Israeli
ID/Passport No. : 270339
Registered Address : Hanesiim 28 ,Petach-Tikva
Country of Residence : Israel
3
Name : Mr. Spencer Tak-kwong Wong
Nationality : Hong Kong
ID/Passport No. : E964604(7)
Registered Address : Flat A, Ground Fl Kent Court - Block 1, 131-135
Boundary St ,Kowloon
Country of Residence : Hong Kong
4
Name : Mr. Stanley Chung-yuen Choi
Nationality : Hong Kong
ID/Passport No. : E374219(2)
Registered Address : Flat B 27Fl, 1 Ho Man Tin Hill Rd ,Kowloon
Country of Residence : Hong Kong
*Main Products & Services*
======================
Specializes in the following areas of work :
1. Local purchasing a wide range of diamond and jewellery.
2. Sales and distribution of purchased products to local and overseas
markets.
Products: Bangles
Diamond necklaces
Diamond pendant
Diamond rings
Diamond set jewelry
*Payment Terms*
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Sales
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Local : Cash or Credit
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
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Local : Cash or Credit
*Exhibition Participation*
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(1)
Exhibition/Fair : JCK Las Vegas Show
Year attended : 2006
Location : Sao Polo
& Murano Ballroom - Sands Expo, Hong Kong
(2)
Exhibition/Fair : Hong Kong International Jewellery Show
Date attended : March 2007
(3)
Exhibition/Fair : Hong Kong Jewellery & Watch Fair
Date attended : September 2007
*Associations*
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Member of :
- Hongkong Jewellery & Jade Manufacturers Association (HKJJA)
*Local Distribution Network*
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Part of the annual turnover is attributed to local sales.
*Export Markets*
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Part of the annual turnover is attributed to export.
*International Exhibition Participation*
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Will be participating in the following overseas exhibition:
(1)
Exhibition/Fair : VicenzaOro 1
Date attended : January 2007
Location : Italy
(2)
Exhibition/Fair : Spring Fair Birmingham
Date attended : February 2007
Location : United
Kingdom
(3)
Exhibition/Fair : VicenzaOro 2
Date attended : May 2007
Location : Italy
(4)
Exhibition/Fair : JCK Las Vegas Show
Date attended : June 2007
Location : USA
(5)
Exhibition/Fair : Orogemma
Date attended : September 2007
Location : Italy
(6)
Exhibition/Fair : BaselWorld
*Subsidiaries, Joint-ventures & Affiliates*
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Maintains a production facilities in the following countries :
1. China
- with 78,000 sq. feet area
- with a total production of
over 80,000-100,000 pcs of jewelry monthly
2. Thailand
PAYMENT RATING : 4 OBTAINED SCORES :
48
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Implication |
Implications |
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1 |
Scores 85100 |
Excellent |
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2 |
Scores 75 84 |
Above Average |
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3 |
Scores 50 74 |
Average |
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4 |
Scores 35 49 |
Fair |
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5 |
Scores 15 34 |
Below Average |
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6 |
Scores 01 14 |
Poor |
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NR |
No Data |
No Data |
The rating indicates the payment
pattern of SC based upon our Payment Database, comments from suppliers of SC,
information from banks (if available), as well as industrial sources.
Dealings on open terms may be possible for SMALL
amounts depending on individual judgement experience.
As a private limited company there is no legal requirement according to
local corporate law for public disclosure of detailed financials.
SC is considered small-sized
in its line with a long development history.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 3911 Jewelry,
of precious metal
Exporting 3961 Jewelry
of materials other than solid gold, platinum & silver
Trading 3911 Jewelry, of
precious metal
Trading 3961 Jewelry of
materials other than solid gold, platinum & silver
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Exporting 7113 Articles
of jewelry & parts, of precious metal or clad
Exporting 7116 Articles
of natural or cut pearls, prec/semprc stones
Exporting 7116201000 Jewelry of precious or semiprecious stones
Trading 7113 Articles
of jewelry & parts, of precious metal or clad
Trading 7116 Articles
of natural or cut pearls, prec/semprc stones
Trading 7116201000 Jewelry
of precious or semiprecious stones
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Exporter Jewelry,
sets
Exporter Fine
jewelry
Exporter Diamonds
Exporter Diamond set
jewelry
Trader Diamonds
Trader Diamond
rings
Trader Earrings
Trader Bangles
Trader Diamond set
jewelry
Trader Diamond necklaces
INTERNATIONAL TRADE: ACTIVITY & MARKETS
Country / Region Main Trading Activity
Asia / Pacific Exporting
Europe Exporting
North America Exporting
Japan Exporting
USA Exporting
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.12 |
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UK Pound |
1 |
Rs.79.60 |
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Euro |
1 |
Rs.63.83 |
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 SCs 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%)