MIRA
INFORM REPORT
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Report Date : |
24.12.2011 |
IDENTIFICATION DETAILS
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Name : |
LEE HENG DIAMOND CO. LTD. |
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Registered Office : |
6/F., Sino Plaza, 256 Gloucester Road, Causeway Bay |
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Country : |
Hong Kong |
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Date of Incorporation : |
08.02.1977 |
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Com. Reg. No.: |
05073606 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter, Wholesaler and Retailer of all kinds diamond and jewellery products, gemsets, etc. |
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No. of Employees : |
12. (Head office only) |
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 30, 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 and address
LEE HENG
DIAMOND CO. LTD.
Address: Room 1201,
12/F., China Building,
29 Queen’s Road
Central,
Hong Kong.
(Head Office)
and
6/F., Sino Plaza,
256 Gloucester Road,
Causeway Bay,
Hong Kong.
(Registered Office)
PHONE: 2526 1167, 2971 2200
FAX: 2868 0170
E-MAIL: lhdgroup@leeheng.com
support@leehengdiamond.com
MANAGEMENT
Managing Director: Mr. Ma Chun
Wai, Franklin
SUMMARY
Incorporated on: 8th
February, 1977.
Organization: Private
Limited Company.
Capital: Nominal: HK$120,000,000.00
Issued: HK$120,000,000.00
Business Category: Jewellery Trader and Retailer.
Employees:
12. (Head office only)
Main Dealing Banker: Hang Seng Bank Ltd., Hong Kong.
Banking Relation: Satisfactory.
ADDRESS
Registered Office:-
6/F., Sino Plaza, 256 Gloucester Road, Causeway Bay, Hong Kong.
Head Office:-
Room 1201, 12/F., China Building, 29 Queen’s Road Central,
Hong Kong.
Holding Company:-
Lee Heng Jewellery Group Of Companies Ltd., Hong Kong. (Same address)
Associated/Affiliated Companies:-
Lee Heng Diamond Group
Ablemaster Jewellery Manufacturing Co. Ltd., Hong Kong.
Dorical Ltd., Hong Kong.
Falconer Jewellers Ltd., Hong Kong.
IAD Jewellery Ltd., Hong Kong.
MaBelle Jewellery Co. Ltd., Hong Kong.
Mabros Gold Co. Ltd., Hong Kong.
Mabros Jewellery Co. Ltd., Hong Kong.
Madia Jewellery International Co. Ltd., Hong Kong.
Profit Famous Ltd., Hong Kong.
etc.
BUSINESS REGISTRATION NUMBER
05073606
COMPANY FILE NUMBER
0051535
MANAGEMENT
Group Chairman: Mr. Ma Charn Yui, Michael
Managing Director: Mr. Ma
Chun Wai, Franklin
Contact Persons: Mr.
Stephen Lee
Mr. Eddie Choi
CAPITAL
Nominal Share Capital: HK$120,000,000.00 (Divided into 240,000 shares of
HK$500.00 each)
Issued Share Capital: HK$120,000,000.00
SHAREHOLDER
(As per registry dated 08-02-2011)
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Name |
Occupation |
No. of shares |
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Lee Heng Jewellery Group Of Companies Ltd., Hong Kong. |
Corporation |
240,000 ====== |
DIRECTORS
(As per registry dated 28-03-2011)
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Name (Nationality) |
Address |
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MA Yan, Calvin Ronald |
House C, 66 Deep Water Bay Road, Hong Kong. |
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MA Yung Kit |
House D, 66 Deep Water Bay Road, Hong Kong. |
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MA Yung Yi |
House C, 66 Deep Water Bay Road, Hong Kong. |
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CHAN Mee Ngan, Anna |
Flat A, 4/F., Block 1, Ruby Court, 55 South Bay Road, Hong Kong. |
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MA Chun Wai, Franklin |
House A, 66 Deep Water Bay Road, Hong Kong. |
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HO Man Kwong |
Flat D, 17/F., Tower B, Hollywood Terrace, 268 Queen’s Road Central,
Sheung Wan, Hong Kong. |
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CHENG Tak Wai, David |
Room 2608, Tsui Ning House, Tsui Wan Estate, Chai Wan, Hong Kong. |
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MA Charn Yui, Michael |
Flat A, 4/F., Block 1, Ruby Court, 55 South Bay Road, Hong Kong. |
SECRETARY
(As per registry dated 08-02-2011)
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Name |
Address |
Co. No. |
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Eunica Co. Ltd. |
6/F., Sino Plaza, 256 Gloucester Road, Causeway Bay, Hong Kong. |
0454936 |
HISTORY
The subject was incorporated on 8th February, 1977 as a private limited
liability company under the Hong Kong Companies Ordinance.
The subject moved its registered address to the present location in
February 2006.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities: Importer,
Exporter, Wholesaler and Retailer.
Lines: All
kinds diamond and jewellery products, gemsets, etc.
Employees: 12. (Head office only)
Commodities Imported: India, Thailand, Europe, etc.
Markets: Asia,
Europe, Middle East, US, etc.
Terms/Sales:
L/C, T/T, etc.
Terms/Buying: L/C,
D/P, O/A, etc.
FINANCIAL INFORMATION
Nominal Share Capital: HK$120,000,000.00 (Divided into 240,000 shares
of HK$500.00 each)
Issued Share Capital: HK$120,000,000.00
Profit or Loss: Making a small profit every year.
Condition:
Keeping in an active
condition.
Facilities: Making rather active use of general banking
facilities.
Payment:
Met trade
commitments as contracted.
Commercial Morality: Satisfactory.
Banker:
Hang Seng
Bank Ltd., Hong Kong.
Standing:
Good.
GENERAL
Having issued 240,000 ordinary shares of HK$500.00 each, Lee Heng
Diamond Co. Ltd. is a wholly owned subsidiary of Lee Heng Jewellery Group Of
Companies Ltd. which is a Hong Kong-based firm located at the operating office
of the subject. The operating address of
the Group is located at Room 1201, 12/F., China Building, 29 Queen’s Road
Central, Hong Kong.
The subject is the origin and key member of the Lee Heng Diamond Group
which consists of twelve different diamond and jewellery companies — from
handling polished diamond, manufacturing jewellery, to wholesaling, retailing
and distributing diamonds and jewellery products.
The subject is one of the core members of the Group. According to the subject, its predecessor
started operation in 1949. The subject is
trading in the following products:-
Diamond gold jewellery
Diamond platinum jewellery
Gemset gold jewellery — 18 karat
Gemset jewellery
Gold chain, etc.
Commodities and raw materials are imported from Italy, France, other
European countries, some Asian countries such as India, etc. Prime markets are Hong Kong, China, other
Asian countries, Europe, the Middle East, etc.
Overall business is rather active.
In Hong Kong, the subject has had four affiliated retailers and one in
China. Names of the retailers are
Mabros, Falconer Jewellers, Madia, MaBelle and MaBelle (China). The MaBelle shop was established in Shanghai,
China in 2001.
The subject and its affiliates Mabros Gold, IAD Jewellery are
wholesalers. The manufacturers of the
Group are “Ablemaster Jewellery Manufacturing Co. Ltd.” and “Profit Famous”.
The Group has ten retail shops in Hong Kong. Mabros Jewellery Co. Ltd. is one of the
retailing shops of the Group which is retailing “Marbos” brand jewellery
products. The Group also markets its
products via the following two websites: “Mabelle.com” and “Dorical”.
Three of the subject’s directors Ma Yung Yi, Michael Ma Charn Yui and Ma
Yung Kit are also directors of Ablemaster Jewellery, a Hong Kong-registered
firm incorporated on 17th March, 1992.
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.
For instance, it is going to take part in “HKTDC Hong Kong International
Jewellery Show 2012” which will be held in Hong Kong Convention and Exhibition
Centre, Wanchai, Hong Kong during the period of 16th to 20th February, 2012.
As the history of the subject in Hong Kong is over thirty-four years and
ten months, on the whole, consider it good for normal business engagements.
REMARK
Property information of
affiliate:-
Property
Location: Workshop Unit 10, 11,
12 & 13 on 2/F. of Block A,
Focal Industrial Centre, 21 Man Lok Street,
Kowloon, Hong Kong.
Owner: Ablemaster Jewellery Manufacturing Co. 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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01-12-1992 |
- |
Dah Sing Bank 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.52.72 |
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1 |
Rs.82.70 |
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Euro |
1 |
Rs.68.90 |
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.