MIRA INFORM REPORT
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Report Date : |
07.12.2011 |
IDENTIFICATION DETAILS
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Name : |
TRENDY
GROUP INTERNATIONAL HOLDINGS
LTD. |
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Registered Office : |
Unit B, 18/F., Gemstar Tower, 23 Man Lok Street, Hunghom, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
11.09.2006 |
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Com. Reg. No.: |
37153349 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Manufacturer, Exporter and Wholesaler of all kinds of diamonds and jewellery products, etc. |
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No. of Employees
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40 Persons |
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 : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Hong Kong |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name
TRENDY GROUP INTERNATIONAL
HOLDINGS LTD.
Company ADDRESS
Unit B, 18/F., Gemstar Tower, 23 Man Lok Street, Hunghom, Kowloon, Hong Kong.
PHONE: 2356 0029
FAX: 2333 9560
E-MAIL: sales@trendygp.com
MANAGEMENT
Managing Director: Ms. Lui Choi Wan, Rose
SUMMARY
Incorporated on: 11th September, 2006.
Organization: Private Limited Company.
Capital: Nominal: HK$2,000,000.00
Issued: HK$2,000,000.00
Business Category: Jewellery Trader.
Employees: 40.
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company ADDRESS
Registered Head Office:-
Unit B, 18/F., Gemstar Tower, 23 Man Lok Street, Hunghom, Kowloon, Hong Kong.
Associated Factory:-
Shunde, Foshan City, Guangdong Province, China.
BUSINESS REGISTRATION NUMBER
37153349
COMPANY FILE NUMBER
1073144
MANAGEMENT
Managing Director: Ms. Lui Choi Wan, Rose
CAPITAL
Nominal Share Capital: HK$2,000,000.00 (Divided into 2,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$2,000,000.00
SHAREHOLDER
(As per registry
dated 11-09-2011)
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Name |
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No. of shares |
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LUI Choi Wan, Rose |
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2,000,000 ======= |
DIRECTORS
(As per registry
dated 11-09-2011)
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Name (Nationality) |
Address |
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LUI Choi Wan, Rose |
Room 1620, 16/F., Wai Sum House, Lung Hang Estate, Tai Wai, Shatin, New Territories, Hong Kong. |
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LUI So Yuk |
266/398 Pitt Street, Haymarket, NSW 2000, Sydney, Australia. |
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TAN Kim Hock |
266/398 Pitt Street, Haymarket, NSW 2000, Sydney, Australia. |
SECRETARY
(As per registry
dated 11-09-2011)
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Name |
Address |
Co.
No. |
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Faith Corporate Services Ltd. |
Room 3201A, 32/F., Citicorp Centre, 18 Whitfield Road, Hong Kong. |
0733856 |
HISTORY
The subject was incorporated on 11th September, 2006 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, Exporter and Wholesaler.
Lines: All kinds of diamonds and jewellery products, etc.
Employees: 40.
Materials/Commodities: India, Europe, US, etc.
Markets: Southeast Asia, Europe, Middle East, North America, etc.
Terms/Sales: L/C, T/T, etc.
Terms/Buying: L/C, T/T, D/P, etc.
MEMBERSHIP
· Hong Kong Jewelry Manufacturers’ Association, Hong Kong.
· The Hong Kong General Chamber of Commerce, Hong Kong.
[Membership No. HKT0602]
FINANCIAL INFORMATION
Nominal Share Capital: HK$2,000,000.00 (Divided into 2,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$2,000,000.00
Profit or Loss: Making a small profit in the past three years.
Condition: Keeping in a satisfactory manner.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
GENERAL
Having
issued 2 million ordinary shares of HK$1.00 each, Trendy Group International
Holdings Ltd. is wholly owned by Ms. Lui Choi Wan, Rose who is a Hong Kong
businesswoman.
The subject is a Hong Kong based manufacturer, exporter and wholesaler of fine jewelry. According to the subject, its predecessor was established in 1999.
Now, the subject and its subsidiary have become an international jewellery trading company. It is specialized in 18K gold, diamond, fancy yellow diamond, jade and gemstones jewelry, all with complete range from bracelets to rings.
The subject has got an associated factory in Shunde, Foshan City, Guangdong Province, China. With a complete and comprehensive production lines, the factory occupies an area over 18,000 sq.ft.
The subject provides clients with one-stop services which include from product designing, development, to moulding/mounting and production. It also provides customers with OEM/ODM/franchises services to jewellers from all over the world.
According to the subject, the subject offers clients with the following services:-
· Franchise — The subject is always willing to share his success with business partners. Franchisees can adapt its operation mode to reduce the cost of setting up.
· Wholesale — With its wholesale centres in Hong Kong and China, the subject’s sales team will assist its clients in selecting the right products for their target customers and all the post-order logistics matter.
· Retail — In house retail business in Hong Kong and China enable the subject to understand and familiar with the market needs.
· Gold Processing — Gold represents prestige and authority in China. With its sophisticated workmanship, the subject supplies the world with its accessories made of pure gold.
· Mounting Processing — Having made large investment in developing mounting technology, the subject is famous for its fashionable classic jewelry mounting in diamonds, gemstones, pearls and all kinds of jades.
· Platinum and Palladium Processing — With his professional workforce and equipment, the subject’s technology in platinum and palladium processing won the praise from other companies in the field.
· Chain — With his facilities imported from Italy, the subject produces chains made by platinum, palladium and gold and is the main supplier of shinny and dainty chains for several reputed companies around the world.
The subject’s products are exported to worldwide countries.
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 such as Baselworld, Istanbul, Bangkok, Dubai, etc. For instance, it is going to take part in “HKTDC Hong Kong International Jewellery Show 2012” which will be held in Wanchai, Hong Kong during the period of 16th to 20th February, 2012.
As the history of the subject is over five years and two months in Hong Kong, on the whole, consider it good for normal business engagements.
DIAMOND INDUSTRY –
INDIA
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From time immemorial, India is well known in the world as the birthplace
for diamonds. It is difficult to trace the origin of diamonds but history
says that in the remote past, diamonds were mined only in India. Diamond
production in India can be traced back to almost 8th Century B.C.
India, in fact, remained undisputed leader till 18th Century
when Brazilian fields were discovered in 1725 followed by emergence of S.
Africa, Russia and Australia.
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The achievement of the Indian diamond industry was possible only due to
combination of the manufacturing skills of the Indian workforce and the untiring
and unflagging efforts of the Indian diamantaires, supported by progressive
Government policies.
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The area of study of family owned diamond businesses derives its
importance from the huge conglomerate of family run organizations which operate
in the diamond industry since many generations.
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Some of the basic traits of family run business enterprises include
spirit of entrepreneurship, mutual trust lowers transaction costs, small,
nimble and quick to react, information as a source of advantage and philanthropy.
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Family owned diamond businesses need to improve on many fronts including
higher standard of corporate governance, long-term performance – focused
strategies, modern management and technology.
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The diamond jewellery industry in India today may be more than Rs 60000
mil and is rated amongst the fastest growing in the world. Indi ranks
third in the world in domestic diamond consumption.
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Utmost caution is to be exercised while dealing with some medium and
large diamond traders which are usually engaged in fictitious import – export,
inter-company transactions, financially assisted by banks. In the process,
several public sector banks lost several hundred million rupees. They mostly
diverted borrowed money for diamond business into real estate and capital markets.
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Excerpts from Times of India dated 30th October 2010 is as
under –
DIAMOND SAGA – DIRTY DOZEN STUCK WITH 2K CR DEBT
This could be the biggest credibility crisis
the Indian diamond industry has ever faced. Fifteen banks run the risk of losing
Rs 2000 crore lent to a dozen diamond firms in Surat. Until about two months
ago, they had not repaid these dues. Bankers believe many diamantaires
borrowed money during the economic downturn two years ago and diverted funds to
businesses like real estate and capital markets. Many of themselves made money
from these businesses but their diamond companies have gone sick and declared
insolvency.
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Most of the money borrowed from the banks in the name of their diamond
business has been diverted in real estate and the share market. The banks are
not in a position to seize their properties because in many cases, these were
purchased in the name of their relatives and friends.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.39 |
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UK Pound |
1 |
Rs.80.20 |
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Euro |
1 |
Rs.68.92 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.