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MIRA
INFORM REPORT
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Report Date : |
06.09.2011 |
IDENTIFICATION DETAILS
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Name : |
LEGRAND JEWELLERY (MFG.)
CO. LTD. |
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Registered Office : |
Unit O, 5/F., Kaiser Estate, Phase 3, 11 Hok Yuen Street., Hunghom,
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
14.01.1983 |
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Com. Reg. No.: |
08788389 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter and Wholesaler of all kinds of jewellery products,
etc. |
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 : |
Exists |
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) |
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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
LEGRAND JEWELLERY
(MFG.) CO. LTD.
ADDRESS: Unit O, 5/F., Kaiser Estate,
Phase 3, 11 Hok Yuen Street., Hunghom, Kowloon, Hong Kong.
PHONE: 2765 7818
FAX: 2765 0201, 2363 5045
E-MAIL: sales@legrandjew.com
MANAGEMENT
Managing Director: Mr. To Lam
Sum, Patrick
SUMMARY
Incorporated on: 14th
January, 1983.
Organization: Private
Limited Company.
Capital: Nominal: HK$1,000,000.00
Issued: HK$1,000,000.00
Business Category: Jewellery Trader.
Annual Turnover: HK$200~220
million.
Employees:
25. (Hong Kong)
Main Dealing Banker: Bank of China (Hong Kong) Ltd., Hong Kong.
Banking Relation: Good.
ADDRESS
Registered Head Office:-
Unit O, 5/F., Kaiser Estate, Phase 3, 11 Hok Yuen Street., Hunghom,
Kowloon, Hong Kong.
BUSINESS REGISTRATION NUMBER
08788389
COMPANY FILE NUMBER
0120681
MANAGEMENT
Managing Director: Mr. To Lam
Sum, Patrick
Director & Contact Person:
Mr. To Ping Kwan
CAPITAL
Nominal Share Capital: HK$1,000,000.00 (Divided into 100,000 shares of
HK$10.00 each)
Issued Share Capital: HK$1,000,000.00
SHAREHOLDERS
(As per registry dated 14-01-2011)
|
Name |
|
No. of shares |
|
TO Ping Kwan |
|
90,200 |
|
TO Lam Sum |
|
9,800 |
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|
|
––––––– |
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|
Total: |
100,000 ====== |
DIRECTORS
(As per registry dated 14-01-2011)
|
Name (Nationality) |
Address |
|
TO Ping Kwan |
51/F., Block 9, Celestial Heights, 80 Sheung Shing Street, Homantin,
Kowloon, Hong Kong. |
|
TO Lam Sum |
3/F., 2 Monmouth Terrace, Hong Kong. |
SECRETARY
(As per registry dated 14-01-2011)
|
Name |
Address |
|
TO Wai Keung |
Unit O, 5/F., Kaiser Estate, Phase 3, 11 Hok Yuen Street, Hunghom,
Kowloon, Hong Kong. |
HISTORY
The subject was incorporated on 14th January, 1983 as a private limited
liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Rayview Ltd., name
changed to the present style on 7th November, 1986.
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: 25. (Hong Kong)
Commodities Imported: India, Europe, US, other Asian countries, etc.
Markets: US,
Japan, Europe, Taiwan, Southeast Asia, etc.
Annual Turnover: HK$200~220 million.
Terms/Sales:
L/C, T/T, etc.
Terms/Buying: L/C,
T/T, D/P, O/A, etc.
MEMBERSHIP
Hong Kong Jewellery & Jade Manufacturers
Association, Hong Kong.
Hong Kong Jewelry Manufacturers’
Association, Hong Kong.
The Hong Kong General Chamber of Commerce,
Hong Kong.
[Membership No. HKL0072]
The Hong Kong Jade & Stone Manufacturers
Association, Hong Kong.
FINANCIAL INFORMATION
Nominal Share Capital: HK$1,000,000.00 (Divided into
100,000 shares of HK$10.00 each)
Issued Share Capital: HK$1,000,000.00
Mortgage or Charge (since 2007): (See attachment)
Profit or Loss: Business is profitable.
Condition:
Keeping
in an active manner.
Facilities:
Making
active use of general banking facilities.
Payment:
Met
trade commitments as contracted.
Commercial Morality: Satisfactory.
Bankers:-
Bank of China (Hong Kong) Ltd.,
Hong Kong.
The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Industrial & Commercial Bank of China
(Asia) Ltd., Hong Kong.
Citibank N.A., Hong Kong Branch.
Standing:
Good.
GENERAL
Having issued 100,000 ordinary shares of HK$10.00 each, Legrand
Jewellery (Mfg.) Co. Ltd. is jointly owned by Mr. To Ping Kwan, holding 90.2%
interest; and Mr. To Lam Sum, holding 9.8%.
Being Hong Kong merchants, they are also directors of the subject.
The subject is a jewellery manufacturer and trader. Based in Hong Kong with its own factory, the
subject has over 20 years of history in manufacturing fine jewellery.
The subject’s main products feature diamonds, colour stones and pearls,
set with 14k, 18k gold and platinum. Its
vast range of products include rings, earrings, pendants, necklaces and
bracelets, among others.
The subject produces exclusive collections for its customers according
to their requirements, while its design team offers the subject’s unique and
customer-oriented designs.
The subject exports its products to the United States, Japan, South
Korea, Europe, Taiwan and Southeast Asia.
Some of its products are marketed in Hong Kong. Its workforce at Hong Kong consists of 25 in
Hong Kong office and over 130 in its China factory.
The subject started its China production plant in Panyu, Guangdong
Province, in 2003. The Panyu factory is
able of offer customers with the following products:-
·
Jewellery – 24K Fine Gold (OEM, 14K and 18K)
·
Jewellery – Diamond (OEM)
·
Jewellery – Gemset (OEM)
·
Jewellery – Pearl (OEM)
The subject regularly participates in local jewellery fairs, Basel World
Watch & Jewellery Show, International Jewellery Tokyo and Kobe, Vicenza
Oro, JCK Las Vegas Show, JA New York Show, etc.
In 2004, it took part in International Jewellery London in the United
Kingdom.
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.
The annual sales turnover of the subject ranges from HK$200 to 220
million. Making a small profit every
year.
As the history of the subject is about twenty-eight years and eight
months in Hong Kong, on the whole, consider it good for normal business engagements.
REMARKS
Court case:-
|
Action Date |
Case No. |
Plaintiff |
Defendant |
Cause |
Amount |
|
Mar. 1998 |
- |
Thousand Million Diamonds Co. Ltd. |
Legrand Jewellery (Mfg.) Co. Ltd. |
Goods Sold and Delivered |
HK$226,231 |
|
June 1999 |
- |
Star Light Co. [Operated by Jagdish Jhaveri and Veena Jhaveri] |
Legrand Jewellery (Mfg.) Co. Ltd. |
Amount Due |
US$27,840 |
|
Nov. 2000 |
H9965 |
Universal Jewellery Design Centre Ltd. |
Legrand Jewellery (Mfg.) Co. Ltd. |
Injunction |
Not stated |
Property information of
the company:-
Property Location: Unit O on 5/F. and Private Car Parking
Space No. C17 on Lower G/F., Kaiser Estate 3rd Phase, 11 Hok Yuen Street,
Kowloon, Hong Kong.
Owner: Legrand Jewellery (Mfg.)
Co. Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
10-12-2007 |
- |
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
Mortgage to secure general banking facilities |
MORTGAGE OR CHARGE
(Since 2007)
|
Date |
Particulars |
Amount |
|
10-12-2007 |
Instrument: Mortgage Property: 69/5,000th parts or shares of and in Section I of Kowloon Marine Lot
No. 40 and Sub-section 1 of Section H of Kowloon Marine Lot No. 40 (Unit O on
5/F. and Private Car Parking Space No. C17 on Lower G/F. of Kaiser Estate 3rd
Phase, 11 Hok Yuen Street, Kowloon, Hong Kong.) Mortgagee: The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong. |
To secure all moneys in respect of general banking facilities |
|
30-09-2008 |
Instrument: Security over Deposit in respect of
Obligations of the Depositor Property: By way of first fixed charge to the Chargee the account no.
861600015304 and all deposits Mortgagee: Industrial & Commercial Bank of
China (Asia) Ltd., Hong Kong. |
All monies and liabilities |
|
26-11-2009 |
Instrument: Deposit Deed Property: By way of a first fixed charge and as a continuing security for the
Obligations, the Company charges and assigns absolutely all its rights, title
to and interest in the Accounts and all Deposits Mortgagee: Citibank N.A., Hong Kong Branch. |
All moneys |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.12 |
|
|
1 |
Rs.74.18 |
|
Euro |
1 |
Rs.64.87 |
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 |
|
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 |
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-- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.