MIRA INFORM REPORT

 

 

Report Date :           

28.07.2011

 

IDENTIFICATION DETAILS

 

Name :

LUK FOOK HOLDINGS COMPANY LIMITED

 

 

Formerly Known As :

Man Fat Trading Limited

 

 

Registered Office :

Luk Fook Jewellery Centre, 239 Temple Street, Jordan, Kowloon

 

 

Country :

Hong Kong

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

29.10.1991

 

 

Com. Reg. No.:

15114191 

 

 

Legal Form :

Private Limited Company 

 

 

Line of Business :

Provision of management services to group companies and wholesale distribution of gold and jewellery products 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Hong Kong

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

 

company OVERVIEW

 

Subject's Registered Name

(in English ~ Chinese):

Luk Fook Holdings Company Limited

Companies Registry No. (CR No.):

331244 

Subject's Business Name

(in English ~ Chinese):

N/A 

 

Registered Address:

Luk Fook Jewellery Centre, 239 Temple Street, Jordan, Kowloon, Hong Kong. 

 

Previous 1 Address:

25/F, BEA Tower, Millennium City 5, 418 Kwun Tong Road, Kwun Tong, Kowloon, Hong Kong. 

Date Of Change: 

28 Jan 2011

 

Operating/Business Address:

Luk Fook Jewellery Centre, 239 Temple Street, Jordan, Kowloon, Hong Kong. 

Telephone:

23081218 

Fax:

23741696 

Email:

info@lukfook.com.hk 

Website:

www.lukfook.com.hk 

 

NACE - Code & Industry:

51.70 - Other wholesale 

Certification:

N/A 

Business/Industry Trend:

N/A 

Public Filings Compliance:

N/A 

 

NACE - General name for economic activities in the European Union. The NACE-Code system is based on the European standard for industry classification and was introduced in 1970. In 1990 a revised version became applicable.

 

Public Filings Compliance - looks into a number of compliance requirements such as whether Subject is promptly filing its annual return (e.g. within 42 days after the anniversary of the date of incorporation (for private companies having a share capital); whether Subject's individual director is reporting a residential address and/or whether Subject is reporting its status under the Mortgage and Charges section for Total Amount Outstanding.... etc.

 

ALL FIGURES QUOTED IN LOCAL CURRENCY UNLESS OTHERWISE STATED

 

CORPORATE STRUCTURE

The following statutory information is based on the examination of Subject's file at the Companies' Registry (CR), Hong Kong.

(For Public Limited Company - Listed, only Substantial Shareholders ("SS") are listed, as based on the latest available annual or interim reports. It is noted that some of the shares held (including long, short and other positions) might have been duplicated due to capacities of "Beneficial owner", "Interest of controlled corporation", "Interest of spouse", "Family interest", etc., which mean the total number of shares held by SS may exceed the authorized and/or issued shares. Duplicate holding (if any) will be elaborated under the "Notes to Substantial Shareholders" on the Structure Remark section.)

Co. File Examined

22 Jul 2011 

Companies Registry No. (CR No.)

331244 

Business Registration No. (BR No.)

15114191 

Legal Status 

Private Limited Company 

Active Status 

Live 

Date of Incorporation / Registration 

29 Oct 1991 

 

Name Changed From 

Date of Change(s) 

Man Fat Trading Limited

12 Dec 1991 

 

Authorized Share Capital

HKD10,000 

No. of Shares Issued

2  

Issued Share Capital

HKD2  

Paid up Capital (excluding premium)

HKD2 

Class of Share

Ordinary  

 

Last Annual Return Date

29 Oct 2010 

Year(s) of "Annual Return of No Change" Filed

N/A 

Branches/Trading As

N/A 

Chief Executive

WONG Wai Sheung  

Company Secretary

Name

ID/CR No.

Passport No.

Issuing Country

Address

P & P Management Services Limited 

247562 

N/A 

N/A 

Unit 201, 2/F, Malaysia Building, 50 Gloucester Road, Wan Chai, Hong Kong Island, Hong Kong.  


Shareholders/ Subscribers (as at 29 Oct 2010) 

Shareholders/ Subscribers 

ID/CR No.

Passport No.

Issuing Country

Address 

No. of Shares 

Class of Share 

% Of Share Capital 

Luk Fook Investment (B. V. I.) Limited ~

N/A

N/A

N/A 

Akara Building, 24 De Castro Street, Wickhams Cay I, Road Town, Tortola, British Virgin Islands.

1 

Ordinary

50.00

WONG Wai Sheung ~

E351184-0

N/A

N/A 

Flat B, 4/F, Beacon Heights, 15 Lung Ping Road, Kowloon, Hong Kong.

1 

Ordinary

50.00

 

 

 

 

Total: 

2 

 

 


Directors (as at 29 Oct 2010) 

Directors

ID/CR No.

Passport No.

Issuing Country

Address

AU Kwok Kau

E237247-2 

N/A 

N/A 

Flat F, 55/F, Tower 5, Metro Town, 8 King Ling Road, Sai Kung, New Territories, Hong Kong.

CHAN Wai

A265815-4 

N/A 

N/A 

Flat E, 21/F, Garve Court, Perth Garden, 9 Perth Street, Ho Man Tin, Kowloon, Hong Kong.

LEE Shu Kuan 

B452555-3 

N/A 

N/A 

G/F, 6 Verbena Road, Yau Yat Chuen, Kowloon, Hong Kong.

TSE Moon Chuen

E337816-4 

N/A 

N/A 

Room A, 50/F, Block 3, Vision City, 1 Yeung Uk Road, Tsuen Wan, New Territories, Hong Kong.

WONG Ho Lung
Alias Name:
Danny

K630395-1 

N/A 

N/A 

Flat B, 4/F, Beacon Heights, 15 Lung Ping Road, Kowloon, Hong Kong.

WONG Koon Cheung

B402073-7 

N/A 

N/A 

Flat B, 8/F, Block 4, Balwin Court, 154-164 Argyle Street, Kowloon, Hong Kong.

WONG Lan Sze
Alias Name:
Nancy

Z404396-1 

N/A 

N/A 

Flat B, 4/F, Beacon Heights, 15 Lung Ping Road, Kowloon, Hong Kong.

WONG Wai Sheung

E351184-0 

N/A 

N/A 

Flat B, 4/F, Beacon Heights, 15 Lung Ping Road, Kowloon, Hong Kong.

YEUNG Kiu

B654488-1 

N/A 

N/A 

G/F, 100 Pei Ho Street, Sham Shui Po, Kowloon, Hong Kong.

 

 

HISTORY SUMMARY

 

Change of Ownership & Capital/ Share Allotment/Other Changes

No significant changes in business have been reported since 12 Dec 1991, when its name was changed to the present style. 

Appointment and/or Resignation of Directors or Secretary

N/A 

Admission or Retirement of Sole Proprietor/Partner

N/A 

Parent

Subject is indirectly wholly owned by Luk Fook Holdings (International) Limited. Luk Fook Holdings (International) Limited is an investment holding company and flagship of Luk Fook Group ("the Group" of "Luk Fook") (= Luk Fook Holdings (International) Limited and its subsidiaries & associates). Its primary listing is on Hong Kong Stock Exchange under the stock code "0590". 

Luk Fook Holdings (International) Limited 
Address: Luk Fook Jewellery Centre, No. 239 Temple Street, Jordan, Kowloon, Hong Kong. 
Tel: 23081218 
Fax: 23741696 

The Group is engaged in the sourcing, designing, wholesaling and retailing of a range of gold jewellery, gold ornaments, gem-set jewellery, jadeite, gemstones, and other accessory items. The Company operates in four segments: retailing in Hong Kong, Macau and overseas; retailing in the People’s Republic of China, wholesaling and licensing. 

Established in 1991 and listed on the Hong Kong Stock Exchange in May 1997, Luk Fook Holdings (International) Limited, together with its subsidiaries, was founded by a group of experienced jewellery specialists who possess unique market sense in the jewellery industry. With over 40 years of profound experience among the founders, the Group has achieved outstanding performance in merchandising, sales, administration, financial and marketing aspects. 

The Group is principally engaged in the sourcing, designing, retailing and wholesaling of a variety of gold jewellery, gold ornaments, gem-set jewellery, gemstones and authentication services. Luk Fook Group currently has a total of over 700 retail outlets in the PRC, Hong Kong, Macau, Singapore, the United States and Canada. It will continue to identify new business opportunites in the international market in response to its long term-development and motto, "Brand of Hong Kong, Sparkling the world". 

The Group also launched the website (www.jewellworld.com / www.jw28.com) which aims to serve as a business-to-business trading platform among manufacturers, wholesalers and retailers all over the world. In order to attain cost effectiveness and production efficiency, a portion of the gold ornaments and gem-set jewellery will be produced in Luk Fook Jewellery Manufacturing Factory in Panyu, Guangdong, the PRC. 

 

RELATED NEWS /FINDINGS

 

N/A

 

 

MANAGEMENT BACKGROUND

 

Name

AU Kwok Kau ~ 區國球 

Position (Title)

Executive Director 

Nationality

N/A 

Age

61 

Sex

Male 

Experience

31 years + 

Profile / Responsibility

Mr. Au Kwok Kau is the co-founder and was the General Manager of Luk Fook Holdings (International) Ltd since 1992. He has become the Group General Manager since 2007. Mr. Au is responsible for overall administration of the Group. He has over 38 years of experience in the jewellery industry in Hong Kong. 

Business Capacity

Company Name

CR/BR No.

Capacity

As at:

Luk Fook Holdings Company Limited

331244 

Director 

29 Oct 2010 

Maxigood Enterprises Limited

634796 

Director 

16 Jan 2010 

Luk Fook Jewellery & Goldsmith (HK) Co., Limited

691049 

Director 

31 Jul 2009 

Court Action

As Defendant


None found in our database

 

Name

CHAN Wai

Position (Title)

Non-executive Director 

Nationality

N/A 

Age

80 

Sex

Male 

Experience

N/A 

Profile / Responsibility

Mr. Chan Wai serves as Non-Executive Director of Luk Fook Holdings (International) Ltd. He has over 63 years of experience in retailing and manufacturing of jewellery in Hong Kong. He joined the Group in 1992. 

Business Capacity

Company Name

CR/BR No.

Capacity

As at:

Luk Fook Holdings Company Limited

331244 

Director 

29 Oct 2010 

Court Action

As Defendant

None found in our database

 

Name

LEE Shu Kuan

Position (Title)

Director 

Nationality

N/A 

Age

83 

Sex

Male 

Experience

N/A 

Profile / Responsibility

He passed away on 14 July 2011 owing to illness. 

Business Capacity

Company Name

CR/BR No.

Capacity

As at:

Luk Fook Holdings Company

331244 

Director 

29 Oct 2010 

Court Action

As Defendant

None found in our database

 

Name

TSE Moon Chuen

Position (Title)

Executive Director 

Nationality

Hong Kong 

Age

60 

Sex

Male 

Experience

31 years + 

Profile / Responsibility

Mr. Tse Moon Chuen serves as Deputy General Manager, Executive Director of Luk Fook Holdings (International) Ltd. He is the co-founder of the Group. Presently, he is the Director & Deputy General Manager and also a member of the Remuneration Committee. He has over 36 years of experience in jewellery retailing business and is responsible for the sales operations and administration of the Group’s retail shops. He has been appointed to various positions over the years including: an executive committee member of the Diamond Federation of Hong Kong, China Ltd. since 2000; an alternate committee member of the Chinese Gold & Silver Exchange Society since July 2004 and the Vice-Chairman of Kowloon Pearls, Precious Stones, Jade, Gold and Silver Ornament Merchants Association since 2005. Moreover, he was the Vice-President of Hong Kong Tsuen Wan Industries and Commerce Association Limited for 10 years and was elected as the Chairman of the fifth session in 2006; executive committee member of the Tsuen Wan Trade Association Limited since 1996 and was appointed as a co-opted member of the Tsuen Wan District Council, Industry & Commerce Committee in 1997 for a 10-year term. He is also a committee member of the Tsuen Wan District Fight Crime Committee since 2003 and the Vice-Chairman of the Tsuen Wan District Economy Promotion Committee from the year 2005 to 2007. Mr. Tse was appointed as the Chairman of the Tsuen Wan Festival Lightings Organizing Committee for 7 consecutive years between 1999 and 2005 and became the Vice President in 2006. He also served as the honorable President of the 32nd session of Hong Kong Kwun Tong Junior Police Call in the same year. On 1st July 2006, Mr. Tse was awarded the “Chief Executive’s Commendation for Community Service” by the Government of the Hong Kong SAR. He is also currently a Member of Macau Goldsmiths Guild. Mr. Tse was also appointed as the Honorary President of Shatin Livelihood Concern Association and Cheung Ching Friends Association in 2009. 

Business Capacity

Company Name

CR/BR No.

Capacity

As at:

Luk Fook Holdings Company Limited

331244 

Director 

29 Oct 2010 

Maxigood Enterprises Limited

634796 

Director 

16 Jan 2010 

Luk Fook Jewellery & Goldsmith (HK) Co., Limited

691049 

Director 

31 Jul 2009 

Court Action

As Defendant


None found in our database

 

Name

WONG Ho Lung

Alias Name

Danny 

Position (Title)

Executive Director 

Nationality

Hong Kong 

Age

33 

Sex

Male 

Experience

6-10 years 

Profile / Responsibility

Mr. Wong Ho Lung serves as Operations Manager, Executive Director of Luk Fook Holdings (International) Ltd. He joined the Group in 2002 and is responsible for the execution and implementation of the Group’s operation directions and strategies and actively participates in management information systems including hardware integration and software development. He is also in charge of the Group’s image rebranding and the design of its retail outlets. With overseas experiences and background, Mr. Wong is principally responsible for the design and establishment of the Group’s branches in Hong Kong, Macau, China, USA and Canada. Mr. Wong is also an active participant in the community and is currently a member of the Sihui Municipal Committee of the Chinese People’s Political Consultative Conference; Permanent President of Sze Wui and Kwong Ning Clansman’s Association (Hong Kong) Limited; Honorary President of Junior Police Call of Kwai Tsing District; Honorary President of Kwai Tsing Fire Safety Ambassador; Vice-president of the Executive Committee of Shamshuipo Council For the Promotion of Cultural & Recreational Services Ltd; Member of Sham Shui Po East Area Committee of Sham Shui Po District Office; and Member of Sham Shui Po Commercial & Industrial Liaison Committee. In 2009, Mr. Wong received the GIA Diamonds Graduate title. He is the son of Mr. Wong Wai Sheung, the Group’s Chief Executive and the brother of Ms. Wong Lan Sze, Nancy, Director of the Company. 

Business Capacity

Company Name

CR/BR No.

Capacity

As at:

Luk Fook Holdings Company Limited

331244 

Director 

29 Oct 2010 

Maxigood Enterprises Limited

634796 

Director 

16 Jan 2010 

Luk Fook Jewellery & Goldsmith (HK) Co., Limited

691049 

Director 

31 Jul 2009 

Court Action

As Defendant

None found in our database

 

Name

WONG Koon Cheung

Position (Title)

Non-executive Director 

Nationality

N/A 

Age

77 

Sex

Male 

Experience

N/A 

Profile / Responsibility

Mr. Wong Koon Cheung serves as Non-Executive Director of Luk Fook Holdings (International) Ltd. He has over 58 years of experience in retailing and manufacturing of jewellery in Hong Kong. He joined the Group in 1992. 

Business Capacity

Company Name

CR/BR No.

Capacity

As at:

Luk Fook Holdings Company Limited

331244 

Director 

29 Oct 2010 

Court Action

As Defendant

None found in our database

 

Name

WONG Lan Sze ~

Alias Name

Nancy 

Position (Title)

Executive Director 

Nationality

Hong Kong 

Age

30 

Sex

Female 

Experience

3-5 years 

Profile / Responsibility

Ms. Wong Lan Sze serves as Assistant Business Manager, Executive Director of Luk Fook Holdings (International) Limited. She joined the Group in 2006 and assists in formulating and implementing the Group’s overall business strategies. She is also responsible for the execution of the Group’s marketing policies. Ms. Wong holds a Bachelor’s Degree in Commerce from the University of Toronto, Canada, and is a Certified Public Accountant of the United States of America. Prior to joining the Group, Ms. WONG worked for an international professional accountants’ firm in Hong Kong, where she performed auditing and accounting assignments for a variety of business organizations including listed companies. She received the GIA Diamonds Graduate title in 2007. 

Business Capacity

Company Name

CR/BR No.

Capacity

As at:

Luk Fook Holdings Company Limited

331244 

Director 

29 Oct 2010 

Maxigood Enterprises Limited

634796 

Director 

16 Jan 2010 

Luk Fook Jewellery & Goldsmith (HK) Co., Limited

691049 

Director 

31 Jul 2009 

Court Action

As Defendant
None found in our database

 

Name

WONG Wai Sheung

Position (Title)

Chief Executive Officer 

Nationality

N/A 

Age

60 

Sex

Male 

Experience

41 years + 

Profile / Responsibility

Mr. Wong Wai Sheung serves as Chief Executive Officer, Executive Director of Luk Fook Holdings (International) Ltd. He is the founder and Chief Executive of the Group. He is also a member of the Remuneration Committee. He has over 43 years of experience in the Hong Kong jewellery industry and is responsible for the overall strategic planning and management of the Group. Mr. Wong has been appointed as the Associate Director of The Kowloon Gold Silver and Jewel Merchant’s Staff Association since November 1993. He has also been the Honorary Permanent Chairman of Jadeware Traders Industry & Commerce Association and Chairman of Supervisory Committee of Kowloon Jewellers’ and Goldsmiths’ Association since 2001. He was also elected as the Honorary Chairman of Macau Goldsmith’s Guild in 2005 and appointed as the Honorary Chairman of the First General Committee of Guangdong Golden Jewelry and Jade Industry’s Association in 2006. Mr. Wong was invited to be the Honorary Vice-president of the Fourth Council Gemological Association of China, Gems & Jewelry Trade Association of China in 2007. He has also been elected as a member of Hong Kong Trade Development Council Jewellery Advisory Committee and QTSA Governing Council (Retailer Category) and elected member of General Committee of Hong Kong Brand Development Council in 2008. Besides, he is also a member of the Guangzhou Huadu District Municipal Committee of the Chinese People’s Political Consultative Conference. He is the father of Mr. Wong Ho Lung, Danny and Ms. Wong Lan Sze, Nancy, Directors of the Company. 

Business Capacity

Company Name

CR/BR No.

Capacity

As at:

Luk Fook Holdings Company Limited

331244 

Director 

29 Oct 2010 

Luk Fook Holdings Company Limited

331244 

Shareholder 

29 Oct 2010 

Maxigood Enterprises Limited

634796 

Director 

16 Jan 2010 

Maxigood Enterprises Limited

634796 

Shareholder 

16 Jan 2010 

Luk Fook Jewellery & Goldsmith (HK) Co., Limited

691049 

Director 

31 Jul 2009 

Court Action

As Defendant

None found in our database

 

Profile/Responsibility and Business Capacity indicated are based on -on-file, sources, and enquiries and investigations recently conducted but do not necessarily represent the full or most updated records. For example, the status indicated under Business Capacity is based on the date shown (if available) as recorded, which might have been changed at the time the report is compiled.

 

 

FINANCIAL

 

Current Interviews & Investigations

Its shareholders and directors were not available for interview during the report compilation. 

Luk Fook Group's Turnover and Earnings after Tax & MI for the year ended 31 Mar 2011 were HKD8091.121 million and HKD866.216 million respectively. Subject is one of the contributors of these figures.

 

Private companies in Hong Kong (include private limited, sole proprietorship and partnership) are not required to file or disclose their financial information for public inspection.

 

GROUP PROFILE & FINANCIALS

 

The Group is principally engaged in the retailing and wholesaling of gold jewellery and gold ornaments, gem-set jewellery andgemstones, and other accessory items.

Sector

Jewellery

Chairman

Lo Mun Lam Raymond

Major Shareholder

Wong Wai Sheung

Directors

Lo Mun Lam Raymond(Chairman & Independent Non-Executive Director)
Wong Wai Sheung(Chief Executive Officer & Executive Director)
Tse Moon Chuen(Executive Director)
Law Tim Fuk Paul(Executive Director)
Lau Kwok Sum(Executive Director)
Wong Ho Lung Danny(Executive Director)
Wong Lan Sze Nancy(Executive Director)
Wong Koon Cheung(Non-Executive Director)
Chan Wai(Non-Executive Director)
Yeung Po Ling Pauline(Non-Executive Director)
Hui King Wai(Non-Executive Director)
TAI Kwok Leung Alexander(Independent Non-Executive Director)
Hui Chiu Chung(Independent Non-Executive Director)

Company Secretary

Law Tim Fuk Paul

Registered Office

Canon's Court,22 Victoria Street,Hamilton HM 12,Bermuda

Principal Place Of Business In Hong Kong

Luk Fook Jewellery Centre,No. 239 Temple Street,Jordan,Kowloon,Hong Kong

Share Registrars

Computershare Hong Kong Investor Services Limited,Rooms 1712-1716,17th Floor,Hopewell Centre,183 Queen's Road East,Hong Kong

Auditors

PricewaterhouseCoopers

Bankers

Hang Seng Bank Limited
The Bank of East Asia Limited
Bank of China (Hong Kong) Limited
DBS Bank (Hong Kong) Limited
The Hongkong and Shanghai Banking Corporation Limited
Standard Chartered Bank (Hong Kong) Limited

Legal Advisors

Kirkpatrick & Lockhart Preston Gates Ellis Solicitors

Tel. no

(852) 2308 1218

Fax no

(852) 2374 1696

E-mail

group@lukfook.com.hk

Website

www.lukfook.com.hk

Business Review [Self-explanatory]:

We made significant headway in our business for the last year. It demonstrated that we could deliver solid sales and earnings in challenging economic cycles,along with exceptional cash flows and very strong returns on equity and assets.

Year 2009 is a year of progress and opportunities. The revival signs of property market and stock market boosted the confidence of consumers and brought significant improvement to the retail industry. PRC tourists contribute more than half of our sales. Following the government's relaxation of residence permit policies for temporary residents of the Guangdong Province in December 2009, it is expected that our retail stores are able to capture the expanding jewellery retail business generated by the substantial increase in the number of PRC tourists traveling to Hong Kong under individual travel scheme.

Stepping into 2010, we will continue to dedicate unceasing effort in promoting our brand name so as to sustain our leadership in the jewellery retail market in the region. The Group's quality service and creative product designs bring high popularity to our brand. With all the competitive strengths,we are confident that we are in a good position to capture the massive opportunities on the increasing demands for luxury products.

We keep expanding our store network, especially that in the PRC. The Group currently has a total of over 580 retail outlets in Hong Kong, the PRC, Macau,Canada and the United States and will continue to look for new business opportunities in the international market, echoing its core brand value of "Brand of Hong Kong, Sparkling the World."

The Group opened a two-storey retail outlet in Park Lane Shopper's Boulevard, Tsim Sha Tsui, Hong Kong in December 2009. Eyeing its satisfactory business performance, we opened our flagship store, another two-storey sized approximately 6,000 square feet retail outlet at Haiphong Mansion in April 2010, bringing the total number of retail outlets in Hong Kong to 32 at present. With the excellent location of the new flagship store,we expect an increase in the sales mix derived from tourists.

Last year, we were honoured to be the pilot company participating in the early R&D, execution and promotion of J-ID (Jewelry-ID). A unique Global J-ID technology encrypts the information of the jewelry to 2-dimensional bar code and then craves it on the product. Customers can search through the jewelry content and its related information from the J-ID website according to the 10-digit code printed on the receipt. This innovative technology not only assists Luk Fook to further enhance its brand image, but also motivates Hong Kong Jewelry with high-quality brand to expand the China market.

Annual Balance Sheet:

Unit: HKD(thousand)

03/2011

03/2010

03/2009

03/2008

03/2007

Non-Current Assets

530,623

446,114

169,014

175,991

141,762

Current Assets

3,751,076

2,150,541

1,586,324

1,530,013

978,267

Current Liabilities

776,842

894,279

455,505

598,855

257,015

Net Current Assets/(Liabilities)

2,974,234

1,256,262

1,130,819

931,158

721,252

Non-Current Liabilities

46,469

18,889

25,713

8,784

129

Minority Interests

34,707

22,945

17,657

16,049

12,789

Net Assets/(Liabilities)

3,423,681

1,660,542

1,256,463

1,082,316

850,096

Capital and Reserves

Share Capital

54,250

49,250

49,250

49,250

49,250

Reserves

3,369,431

1,611,292

1,207,213

1,033,066

800,846

Shareholders' Funds/(Deficits)

3,423,681

1,660,542

1,256,463

1,082,316

850,096

Non-Current Assets

Property, Plant and Equipment

450,580

379,635

110,229

117,463

103,130

Interests in Associates

5,219

4,507

1,955

874

-

Current Assets

Accounts Receivable

108,591

73,806

37,081

33,533

19,318

Inventories

2,630,824

1,735,964

1,218,880

1,245,500

751,854

Cash and Bank Balances

965,892

286,946

280,125

185,380

174,534

Current Liabilities

Accounts Payable

332,845

274,141

68,780

142,434

227,304

Bank Loans

-

162,822

169,000

273,000

-

Non-Current Liabilities

Bank Loans

-

150,878

-

-

-

Total Assets

4,281,699

2,596,655

1,755,338

1,706,004

1,120,029

Total Liabilities

858,018

936,113

498,875

623,688

269,933

Number of Share

542,507,850

492,507,850

492,507,850

492,507,850

492,507,850

Annual Income Statement:

Unit: HKD(thousand)

03/2011

03/2010

03/2009

03/2008

03/2007

Turnover

8,091,121

5,386,432

3,959,227

3,367,182

2,845,147

Profit/(Loss) Before Taxation

1,029,223

634,102

316,021

372,187

234,688

Taxation

(152,007)

(97,540)

(37,781)

(54,235)

(35,728)

Profit/(Loss) After Taxation

877,216

536,562

278,240

317,952

198,960

Minority Interests

(11,000)

(5,078)

(3,080)

(3,963)

(901)

Profit/(Loss) Attributable to Shareholders

866,216

531,484

275,160

313,989

198,059

Dividends

(368,905)

(211,778)

(83,726)

(125,590)

(88,652)

Profit/(Loss) After Taxation and Dividends

497,311

319,706

191,434

188,399

109,407

Earnings/ (Loss) per Share (cents)

Basic

171

108

56

64

40

Dilute

171

108

56

64

40

Dividends

68

43

17

26

18

Major Indicators

Cost of sales

6,173,877

4,092,895

3,085,275

2,529,490

2,257,306

Depreciation

50,429

43,448

36,055

31,982

25,493

Selling and Distribution Expense

812,593

611,069

519,354

466,017

375,504

General and Administrative Expenses

99,169

69,414

67,883

62,118

45,886

Interest Expenses/Financial Cost

4,661

3,548

8,302

3,429

179

Gross Profit/loss

1,917,244

1,293,537

873,952

837,692

587,841

Operating Profit/(Loss)

1,024,005

634,965

318,391

372,359

228,713

Share of Profit/(Loss) of Associates

487

2,343

1,230

(856)

-

Annual Cash Flow Statement:

Unit: HKD(thousand)

03/2010

03/2009

03/2008

03/2007

03/2006

Net cash inflow/(outflow) from operating activities

310,527

340,290

(108,207)

137,756

80,652

Net cash inflow/(outflow) from investing activities

(313,051)

(27,748)

(51,179)

(6,697)

(32,679)

Net cash inflow/(outflow) from financing activities

8,552

(213,266)

166,144

(68,986)

(72,408)

Increase/(decrease) in cash and cash equivalents

6,028

99,276

6,758

62,073

(24,435)

Cash and cash equivalents at the beginning of fiscal year

280,125

185,380

174,534

108,738

131,406

Effect of changes in exchange rates

793

(4,531)

4,088

3,723

1,767

Cash and cash equivalents at the end of fiscal year

286,946

280,125

185,380

174,534

108,738

Latest Result:

For the 12 months ended Mar 2011, gain attributable to shareholders for the group was HKD$ 866.216 million , a growth of 62.98%.

Announcement Date : 2011/06/28

Summary :

12 months ended 31 Mar 2011:

 

Unit: HKD(million)

Turnover

8091.121

Earnings/ (Loss) Profit/ (Loss) after Tax & MI

866.216

Change(%)

62.98%

Earnings/ (Loss) per Share (cents)

- Basic HKD(cents)

171

- Dilute HKD(cents)

171

Extraordinary (ETD) Gain/(Loss)

 

Dividends HKD(cents)

42

(Specify if with other option)

 

Special Dividend

 

B/C dates for Final Dividends

2011/09/02 to 2011/09/07 bdi.

Payable Date

2011/09/12

 

 

 

Financial Ratios

03/2011

03/2010

03/2009

03/2008

03/2007

Liquidity Analysis Ratios

Current Ratio (X)

4.8286

2.4048

3.4826

2.5549

3.8063

Quick Ratio (X)

1.4421

0.4636

0.8067

0.4751

0.8809

Net Working Capital Ratio (X)

0.6946

0.4838

0.6442

0.5458

0.6440

Profitability Analysis Ratios

Operating Profit Margin(%)

12.6559

11.7882

8.0417

11.0585

8.0387

Net Profit Margin (%)

10.7058

9.8671

6.9498

9.3250

6.9613

Earnings/ (Loss) per Share (cents) (cents):

- Basic

171

108

55.9000

63.8000

40.3

- Dilute

171

108

55.9000

63.8000

40.3

Return on Capital Employed Ratios

Return on Assets (%)

20.2307

20.4680

15.6756

18.4049

17.6834

Return on Equity (%)

25.3007

32.0067

21.8996

29.0108

23.2984

Activity Analysis Ratios

Assets Turnover Ratio (X)

1.8897

2.0744

2.2555

1.9737

2.5402

Accounts Receivable Turnover Ratio (X)

74.5101

72.9810

106.7724

100.4140

147.2796

Collection Period for Accounts Receivables (Days)

4.8987

5.0013

3.4185

3.6350

2.4783

Capital Structure Analysis Ratios

Debt/Equity (%)

 

18.8914

13.4505

25.2237

 

Long Term Debt/Equity (%)

 

9.0861

 

 

 

 

 

BANKING

 

Maintaining bank accounts with the following banks: 

- Hang Seng Bank Limited 
- The Bank of East Asia Limited 
- Bank of China (Hong Kong) Limited 
- DBS Bank (Hong Kong) Limited 
- HSBC 
- Standard Chartered Bank (Hong Kong) Limited 

No negative implication has been reported.

 

 

TRADE RECORD

N/A

 

 

TOTAL DEBT SCANNER (TDS)

TDS reveals if subject has been listed as debtor in our debt database in the past 5 years and that is subject to the "Code of Practice on Consumer Credit Data" issued by Office of the Privacy Commissioner for Personal Data, Hong Kong. Accounts are sometimes placed for collection even though the existence or amount of the debt is disputed. It should be noted that the collection record contained in the report might have been paid, terminated, vacated, settled or released prior to the date of report compiled. 

Search Result:


Subject

None found in our database


Related Members

None found in our database


Related Companies

None found in our database

 

 

PUBLIC FILINGS

 

Mortgages and Charges (M&C)

M&C records, if any, are extracted from the Companies Registry, Hong Kong ("CRHK"). Details of "Creating Instrument" and "Description of Property Mortgaged or Charged" are available subject to the prevailing fees as per document charged by CRHK. Please indicate/select "Full Mortgage/Charge" when ordering our services/reports (e.g.: Total Limited Company Search or Total Company Credit Report). Request for Full mortgage/Charge made 7 days after the report delivery will be treated as a new order and is subject to our "Official Document Retrieval (ODR)" service charge + related government fees. M&C brief particulars may not be available from CRHK for mortgage/charge registered before 28 Feb 2005.

Records filed in:

1995-1997,1999,2000,2002,2003 & 2009 

Total Amount outstanding as of the date of this Return on all mortgages and charges which are required to be registered with the Registrar of Companies pursuant to sections 80 and 82 of the Companies Ordinance

 

TOTAL WRIT SCANNER (TWS)

TWS reveals if subject has been listed as defendant, plaintiff, in liquidation or bankruptcy within our court database in the past 7 years and that is subject to the "Code of Practice on Consumer Credit Data" issued by Office of the Privacy Commissioner for Personal Data, Hong Kong. It should be noted that the court record contained in a report might have been paid, terminated, vacated, settled or released prior to the date of a report was compiled. Civil claims are filed as the result of disputes of a commercial or other nature. The defendant is not liable nor the plaintiff eligible to the claim until judgement is obtained from the relevant court, which is not open for public inspection at present.Only the latest 50 records will be shown when total records exceed 50. 

Search Result:

Subject

As Defendant

None found in our database

As Plaintiff

None found in our database

Comments

N/A

Related Members

As Defendant

None found in our database

Comments

N/A

Related Companies

As Defendant

None found in our database

Comments

N/A

 

OPERATION & ACTIVITIES

 

Business Lines

Principal Business Line 

Provision of management services to group companies and wholesale distribution of gold and jewellery products 

Second Business Line 

N/A 

 

Product/Production

China Factory 

Related 

Size of China Factory (sq. ft.) 

350,000 

No. of Staff / Workers in China (or Overseas) 

N/A 

Product / Production Remarks 

Production is based at its Group's factory (Luk Fook Jewellery Manufacturing Factory) in Panyu, China.


To ensure the best quality of products, the Group set up its wholly owned subsidiary gems laboratory “China Gems Laboratory Limited” in 1996. Its scope of services includes authentication, grading of diamonds, and authentication of jades and colored gemstones and quality assessment of jewellery. The Laboratory is operated by dozens of certified gemologists who specialize in the authentication of gemstones and jade. Every year, the laboratory tests for over 100,000 pieces of jewellery and gemstones on average. The Laboratory passed the ISO 17025 in jadeite authentication and diamond testing and grading accredited by the Hong Kong Accreditation Service, also met the principles of ISO 9001:2008 Quality 

Management Systems – Requirements, demonstrating the professional quality assurance system of the Group. China Gems Laboratory is the only subsidiary laboratory of local jewellery retailer obtaining both accreditations. 

*** 

Group's jewellery products include: 

- Bangle 
- Bracelet 
- Brooch 
- Earrings 
- Necklace 
- Ornam 
- Pendant 
- Ring 

With over 20,000 styles.

 

Supplies/Purchases

Hong Kong and China 

Types of Supplies 

Services and supplies 

Buying Terms 

COD, inter account, contract and credit of 30 days 

 

Overseas 

Import Countries 

N/A 

Types of Supplies 

N/A 

Buying Terms 

N/A 

Remarks 

N/A 

 

Markets

Major Market 

China, Hong Kong and Macau 

Minor Market 

Europe and US 

Selling Products / Services 

Gold and jewellery products 

Selling Terms 

COD, inter account, contract and deposit 

Remarks 

Products are mainly distributed to the Group's retail shop and outlets in Hong Kong, Macau and China. 

The Group currently has a total of over 580 retail outlets in Hong Kong, the PRC, Macau, Canada and the United States. The Group operated a total of 31 retail outlets in Hong Kong. 

 

Brands

Own Brands 

N/A 

OEM (Clients) Brands 

N/A 

Remarks 

N/A 

 

Premises and Staff

Hong Kong Office 

Area (sq. ft.) 

N/A 

Type 

Commercial 

Staff Range 

500+ 

China Office 

Staff Range 

N/A 

Premises Remarks 

Sharing its office with the Group at the captioned address, which is at a 13-year-old commercial building. Employing over 500 staffs in Hong Kong. 

As at 31st March 2011, the number of employees of the Group was approximately 3,366. 

Total No. of Staff in Hong Kong (China) 

500 

 

TOTAL PROPERTY OWNERSHIP SEARCH (TPOS)

TPOS reveals if subject has been involved in property transaction record in our database since 1996. TPOS does not represent the full record or history of all transactions relating to the registered charges, mortgages or ownerships. Some of the charges, mortgages or ownerships might have been released and/or changed. There could be latest mortgages, charges, ownerships or transactions not reflected. TPOS also checks on Subject's shareholder, director, sole proprietor, partner (collectively listed under "Related Members" in this section) and/or related company while related records will be revealed when appropriate.

Search Result:


Subject

Property 1 

Unit A, 10/F, Bank Tower, 351 Kings Road, North Point, Hong Kong Island, Hong Kong (Mortgaged/Charged To: Generale Belgian Bank Carrying On The Banking Business In Hong Kong Under The Name of Belgian Bank) 

Memorial Number 

06702457 

Date of Instrument 

16 Jul 1996 

Nature of Transaction 

Assignment 

Gross Area (Saleable Area) in sq. ft. 

580 

Consideration (HKD) 

1,750,000 

Assignor/Seller 

WONG Yim & Others 

Assignee/Purchaser 

Luk Fook Holdings Company Limited 

Mortgaged/Charged To 

See Property Address 

Date of Mortgage/Charge 

16 Jul 1996 

Mortgage/Charge Amount (HKD): 

N/A 


Related Members

Property 1 

Unit B, 4/F, Beacon Heights, Phase 2, Block 15, 15 Lung Ping Road, Beacon Hill, Kowloon, Hong Kong. 

Memorial Number 

06912556 

Date of Instrument 

N/A 

Nature of Transaction 

Mortgage to secure G.B.F. 

Gross Area (Saleable Area) in sq. ft. 

1051(926) 

Consideration (HKD) 

N/A 

Assignor/Seller 

N/A 

Assignee/Purchaser 

WONG Wai Sheung 

Mortgaged/Charged To 

Hang Seng Bank Limited 

Date of Mortgage/Charge 

2 Jan 1997 

Mortgage/Charge Amount (HKD): 

N/A 

 

Property 2 

Unit E, 21/F, Perth Garden, Garve Court, 9 Perth Street, Ho Man Tin, Kowloon, Hong Kong 

Memorial Number 

06723748 

Date of Instrument 

25 Jul 1996 

Nature of Transaction 

Assignment 

Gross Area (Saleable Area) in sq. ft. 

1135 

Consideration (HKD) 

6,300,000 

Assignor/Seller 

SUEN Hak Yan & Others 

Assignee/Purchaser 

CHAN Wai 

Mortgaged/Charged To 

N/A 

Date of Mortgage/Charge 

N/A 

Mortgage/Charge Amount (HKD): 

N/A 

 

Property 3 

Unit E, 21/F, Perth Garden, Garve Court, 9 Perth Street, Ho Man Tin, Kowloon, Hong Kong 

Memorial Number 

11042702950057 

Date of Instrument 

8 Apr 2001 

Nature of Transaction 

Agreement for Sale and Purchase 

Gross Area (Saleable Area) in sq. ft. 

1135 

Consideration (HKD) 

11,280,000 

Assignor/Seller 

CHAN Wai 

Assignee/Purchaser 

YU Chun Wing (joint tenant); MEI Ai Ping (joint tenatn) 

Mortgaged/Charged To 

N/A 

Date of Mortgage/Charge 

N/A 

Mortgage/Charge Amount (HKD): 

N/A 

 

Property 4 

Unit B, 8/F, Balwin Court, Block 4, 154 Argyle Street, Ho Man Tin, Kowloon, Hong Kong 

Memorial Number 

06909585 

Date of Instrument 

30 Dec 1996 

Nature of Transaction 

Assignment 

Gross Area (Saleable Area) in sq. ft. 

938 

Consideration (HKD) 

4,625,000 

Assignor/Seller 

CHE Sai Kit & Others 

Assignee/Purchaser 

WONG Koon Cheung 

Mortgaged/Charged To 

N/A 

Date of Mortgage/Charge 

N/A 

Mortgage/Charge Amount (HKD): 

N/A 


Related Companies

No Trace

 

Abbreviations: 
S&P = Sales and Purchase 
GBF = General Banking Facilities 
N/A = Not Available/Applicable

RELATED COMPANIES

Related companies mean Parent Company, Subsidiary Company, Director's Other Business/Capacity, etc.

Name

ID/CR No.

Relation To Subject

Business Nature

Country

Luk Fook Holdings (International) Limited 

N/A

Ultimate Parent Company 

N/A 

Hong Kong 

Luk Fook Jewellery & Goldsmith (HK) Co., Limited

691049

Related Company 

Retailing of gold and jewellery products 

Hong Kong 

Maxigood Enterprises Limited

634796

Related Company 

Manufacture and wholesale of jewellery in platinum, K gold, diamond, gemstone, and emerald 

Hong Kong 

 

 

RELATED COMPANIES' ARCHIVED CORPORATE STRUCTURE

(Only shows when available)

 

Name

Luk Fook Jewellery & Goldsmith (HK) Co., Limited

Registered Address

25/F, BEA Tower, Millennium City 5, 418 Kwun Tong Road, Kwun Tong, Kowloon, Hong Kong

Co. File Examined

Oct 31 2009 

Year(s) of Company Document Microfiche Obtained

N/A 

Companies Registry No. (CR No.)

691049 

Legal Status 

Private Limited Company 

Active Status 

Live 

Date of Incorporation / Registration 

13 Oct 1999 

 

Authorized Share Capital

HKD10,000 

No. of Shares Issued

100  

Issued Share Capital

100  

Paid up Capital (excluding premium)

HKD100 

Class of Share

Ordinary  

Last Annual Return Date

13 Oct 2008 

Year(s) of "Annual Return of No Change" Filed

N/A 

Chief Executive

N/A 

Company Secretary

Name

ID/BR No.

Passport No.

Issuing Country

Address

P & P Management Services Limited 

247562 

N/A 

N/A 

Unit 201, 2/F, Malaysia Building, 50 Gloucester Road, Wan Chai, Hong Kong Island, Hong Kong. 


Shareholders/ Subscribers (as at 13 Oct 2008) 

Shareholders/ Subscribers 

ID/CR No.

Passport No.

Issuing Country

Address 

No. of Shares 

Class of Share 

% Of Share Capital 

Luk Fook Investment (B. V. I.) Limited

N/A

N/A

N/A 

Akara Building, 24 De Castro Street, Wickhams Cay I, Road Town, Tortola, British Virgin Islands.  

99 

Ordinary

99.00

Luk Fook Nominees Limited

520740

N/A

N/A 

25/F, BEA Tower, Millennium City 5, 418 Kwun Tong Road, Kwun Tong, Kowloon, Hong Kong.  

1 

Ordinary

1.00

 

 

 

 

Total: 

100 

 

 


Directors (as at 31 Jul 2009) 

Directors

ID/CR No.

Passport No.

Issuing Country

Address

AU Kwok Kau

E237247-2 

N/A 

N/A 

Flat F, 55/F, Tower 5, Metro Town, 8 King Ling Road, Sai Kung, New Territories, Hong Kong.  

TSE Moon Chuen

E337816-4 

N/A 

N/A 

Room A, 50/F, Block 3, Vision City, 1 Yeung Uk Road, Tsuen Wan, New Territories, Hong Kong.  

WONG Ho Lung ~
Alias Name:
Danny

K630395-1 

N/A 

N/A 

Flat B, 4/F, Beacon Heights, 15 Lung Ping Road, Kowloon, Hong Kong.  

WONG Lan Sze ~
Alias Name:
Nancy

Z404396-1 

N/A 

N/A 

Flat B, 4/F, Beacon Heights, 15 Lung Ping Road, Kowloon, Hong Kong.  

WONG Wai Sheung ~

E351184-0 

N/A 

N/A 

Flat B, 4/F, Beacon Heights, 15 Lung Ping Road, Kowloon, Hong Kong.  

 

 

 

Name

Maxigood Enterprises Limited

Registered Address

25/F, BEA Tower, Millennium City 5, 418 Kwun Tong Road, Kwun Tong, Kowloon, Hong Kong

Co. File Examined

Aug 31 2010 

Year(s) of Company Document Microfiche Obtained

N/A 

Companies Registry No. (CR No.)

634796 

Legal Status 

Private Limited Company 

Active Status 

Live 

Date of Incorporation / Registration 

16 Jan 1998 

 

Authorized Share Capital

HKD3,000,000 

No. of Shares Issued

3,000,000  

Issued Share Capital

3,000,000  

Paid up Capital (excluding premium)

HKD3,000,000 

Class of Share

Ordinary  

Last Annual Return Date

16 Jan 2010 

Year(s) of "Annual Return of No Change" Filed

N/A 

Chief Executive

WONG Wai Sheung ~ 黃偉常 

Company Secretary

Name

ID/BR No.

Passport No.

Issuing Country

Address

P & P Management Services Limited 

247562 

N/A 

N/A 

Unit 201, 2/F, Malaysia Building, 50 Gloucester Road, Wan Chai, Hong Kong Island, Hong Kong. 


Shareholders/ Subscribers (as at 16 Jan 2010) 

Shareholders/ Subscribers 

ID/CR No.

Passport No.

Issuing Country

Address 

No. of Shares 

Class of Share 

% Of Share Capital 

LO Kwong Fat

A560747-A

N/A

N/A 

7/F, 324 Lai Chi Kok Road, Kowloon, Hong Kong.  

200,000 

Ordinary

6.66

Luk Fook Investment (B. V. I.) Limited

N/A

N/A

N/A 

Akara Building, 24 De Castro Street, Wickhams Cay I, Road Town, Tortola, British Virgin Islands.  

2,799,999 

Ordinary

93.33

WONG Wai Sheung

E351184-0

N/A

N/A 

Flat B, 4/F, Beacon Heights, 15 Lung Ping Road, Kowloon, Hong Kong.  

1 

Ordinary

0.00

 

 

 

 

Total: 

3,000,000 

 

 


Directors (as at 16 Jan 2010) 

Directors

ID/CR No.

Passport No.

Issuing Country

Address

AU Kwok Kau

E237247-2 

N/A 

N/A 

Flat F, 55/F, Tower 5, Metro Town, 8 King Ling Road, Sai Kung, New Territories, Hong Kong.  

LO Kwong Fat 

A560747-A 

N/A 

N/A 

7/F, 324 Lai Chi Kok Road, Kowloon, Hong Kong.  

TSE Moon Chuen 

E337816-4 

N/A 

N/A 

Room A, 50/F, Block 3, Vision City, 1 Yeung Uk Road, Tsuen Wan, New Territories, Hong Kong.  

WONG Ho Lung
Alias Name:
Danny

K630395-1 

N/A 

N/A 

Flat B, 4/F, Beacon Heights, 15 Lung Ping Road, Kowloon, Hong Kong.  

WONG Lan Sze
Alias Name:
Nancy

Z404396-1 

N/A 

N/A 

Flat B, 4/F, Beacon Heights, 15 Lung Ping Road, Kowloon, Hong Kong.  

WONG Wai Sheung ~

E351184-0 

N/A 

N/A 

Flat B, 4/F, Beacon Heights, 15 Lung Ping Road, Kowloon, Hong Kong.  

 

 

 

SUMMARY

 

Subject is an established gold and jewellery products wholesaler and distributor running as an ultimate subsidiary of a properly maintained, financially strong and fast growing public listed company in Hong Kong and possessing strong operational experience, backings and market base to meet its commitment. 

 

 

ECONOMIC AND TRADE INFORMATION ON HONG KONG

Major Economic Indicators

 

2008

2009

2010

Forecast/Latest

Population, Mid-year (million)

6.98

7.00

7.07

7.10a

Gross Domestic Product (US$billion)

215.0

208.0

223.6

240.3-242.6b

Real GDP Growth (%)

+2.3

-2.7

+7.0

+5-6b

GDP Per Capita (US$)

30,800

29,700

31,600

33,900-34,200b

Inflation (% Change in Composite CPI)

+4.3

+0.5

+2.4

+4.3c

Unemployment Rate (%)

3.6

5.4

4.4

3.5d

a end-2010; b government forecast for 2011; c January-May 2011; d March-May 2011

Merchandise Trade Performance

 

2009

2010

January-May 2011

US$billion

Growth %

US$billion

Growth %

US$billion

Growth %

Total Exports

316.5

-12.6

388.6

+22.8

169.8

+17.0

      Domestic Exports

7.4

-36.4

8.9

+20.4

3.7

+9.0

      Re-exports

309.1

-11.8

379.7

+22.8

166.0

+17.2

Imports

345.2

-11.0

431.4

+25.0

190.2

+15.8

Total Trade

661.7

-11.8

820.0

+23.9

359.9

+16.4

Trade Balance

-28.6

N/A

-42.8

N/A

-20.4

N/A

Service Trade Performance

 

2009

2010

January-March 2011

US$billion

Growth %

US$billion

Growth %

US$billion

Growth %

Exports

85.9

-6.8

106.0

+23.4

28.6

+16.9

Imports

43.7

-7.1

50.7

+16.0

13.0

+11.0

Total Trade

129.6

-6.9

156.7

+20.9

41.6

+15.0

Trade Balance

42.2

N/A

55.3

N/A

15.6

N/A

Current Economic Situation

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.43.95

UK Pound

1

Rs.72.12

Euro

1

Rs.63.67

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.