MIRA INFORM REPORT

 

 

Report Date :           

07.11.2011

 

IDENTIFICATION DETAILS

 

Name :

BIN  LI  JEWELLERY  CO.

 

 

Registered Office :

Flat B, 11/F., Hing Lee Commercial Building, 12-14 Shanghai Street, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

11.07.2005

 

 

Com. Reg. No.:

35810082-000-07

 

 

Legal Form :

Sole Proprietorship.

 

 

Line of Business :

Importer, Exporter and Wholesaler of all kinds of jewellery products, etc.

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Small Company 

 

 

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 name

 

BIN  LI  JEWELLERY  CO.

 

 

Company ADDRESS

 

Flat B, 11/F., Hing Lee Commercial Building, 12-14 Shanghai Street, Kowloon, Hong Kong.

PHONE:            Not available

FAX:                 Not available

 

 

MANAGEMENT

 

Manager:  Mr. Qiu Bin, Andrew  (Mobile: 6334 2828)

 

 

SUMMARY

 

Establishment:                          11th July, 2005.

                         

Organization:                 Sole Proprietorship.

 

Capital:                         Not disclosed.

 

Business Category:        Diamond Trader.

 

Annual Turnover:            US$20~25 million.

 

Employees:                   5.

 

Main Dealing Banker:     The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

Company ADDRESS

 

Head Office:-

Flat B, 11/F., Hing Lee Commercial Building, 12-14 Shanghai Street, Kowloon, Hong Kong.

 

Associated Company:-

Binli Jewellery (Hongkong) Co. Ltd., Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

35810082-000-07

 

 

MANAGEMENT

 

Manager:  Mr. Qiu Bin, Andrew  (Mobile: 6334 2828)

 

 

SOLE PROPRIETOR

 

Name:                           Mr. QIU Bin

Residential Address:      Flat G, 21/F., Block 4, Sunningdale Garden, Sheung Shui, New Territories, Hong Kong.

 

 

HISTORY

 

The subject was established on 11th July, 2005 as a sole proprietorship concern owned by Mr. Qiu Bin under the Hong Kong Business Registration Regulations.

Initially the subject was located at Flat C, 10/F., Hang Lung Bank Building, 46-48 Granville Road, Tsimshatsui, Kowloon, Hong Kong, moved to the present address in December 2007.

Apart from these, neither material change nor amendment has been ever traced and noted.

 

 

OPERATIONS

 

Activities:                      Importer, Exporter and Wholesaler.

 

Lines:                           All kinds of jewellery products, etc.

 

Employees:                   5.

 

Commodities Imported:               India, Europe, other Asian countries, etc.

 

Markets:                                   Asian countries, Middle East, Europe, etc.

 

Annual Turnover:                        US$20~25 million.

 

Terms/Sales:                             L/C, T/T, etc.

 

Terms/Buying:                           L/C, T/T, etc.

 

 

FINANCIAL INFORMATION

 

Capital:                                     Not disclosed.

 

Profit or Loss:                            Making a small profit every year.

 

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

 

Bin Li Jewellery Co. is a sole proprietorship set up and owned by Mr. Qiu Bin who is a China merchant.  Besides operating the subject, Qiu is also operating another firm known as Binli Jewellery (Hongkong) Co. Ltd. [Binli Jewellery] which is located at the same operating address.

The subject and Binli Jewellery are diamond and jewellery product traders and manufacturers.  The subject was established in July 2005 while Binli Jewellery was incorporated on 31st May, 2010.

The subject has had an associated factory in Panyu, Guangzhou, Guangdong Province, China.  Employing about 150 person, the factory is engaged in manufacturing the following products: diamond jewellery, Tanzanite jewellery, pearl jewellery, 18K gold jewellery, 14K gold jewellery, PT jewellery, high-end jewellery and 925 sterling silver jewellery, etc.  Products are exported to North America, Europe, Japan, India, Malaysia and also marketed in Hong Kong.

The annual sales turnover of the subject and Binli Jewellery ranges from US$20 to 25 million.  Making a small profit every year.

As the history of the subject is over six years in Hong Kong, on the whole, consider it good for normal business engagements in moderate credit amounts.

 

COURT CASES:            None per our.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.08

UK Pound

1

Rs.78.65

Euro

1

Rs.67.79

 

 

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.