MIRA INFORM REPORT
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Report Date : |
20.09.2011 |
IDENTIFICATION DETAILS
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Name : |
LEGEND
JEWELRY CO. LTD |
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Registered Office : |
Unit M, 4/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 : |
18.06.1992 |
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Com. Reg. No.: |
15824758 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
manufactures
diamond jewellery, gemset jewellery, platinum jewellery, gold set jewellery
with diamond/colour stone/semi-precious/pearl tanzanite, 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 : |
Usually Correct |
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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 – March 31st, 2011
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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
LEGEND JEWELRY
CO. LTD.
Company ADDRESS
Unit M, 4/F., Kaiser Estate, Phase 3, 11 Hok Yuen Street, Hunghom, Kowloon, Hong Kong.
PHONE: 2330 2362
FAX: 2365 4493
E-MAIL: sales.mc@legend-jewelry.com
MANAGEMENT
Managing Director: Mr. Luk Wing Tong, Patrick
SUMMARY
Incorporated on: 18th June, 1992.
Organization: Private Limited Company.
Capital: Nominal: HK$1,000,000.00
Issued: HK$1,000,000.00
Business Category: Jewelery Manufacturer and Exporter.
Employees: 30. (Hong Kong)
Main Dealing Banker: Hang Seng Bank Ltd., Hong Kong.
Banking Relation: Satisfactory.
Company ADDRESS
Registered Head
Office & Workshop:-
Unit M, 4/F., Kaiser Estate, Phase 3, 11 Hok Yuen Street, Hunghom, Kowloon, Hong Kong.
China Factory:-
28 Hao Gang Road, Dagang, Panyu, 511470 Guangzhou, Guangdong Province, China.
[Tel: 86-20-3493 5900; Fax: 86-20-3493 6030]
Associated
Companies:-
· Legend (Guangzhou) Jewelry Co. Ltd., China.
· Legend Jewelry Co. Ltd. (Macao Commercial Offshore), Macau.
· Legend Jewelry Co. Ltd. New York Office, USA.
· Legend Jewelry Co. Ltd. Seattle Office, USA.
· Legend Jewelry Holdings Ltd., British Virgin Islands.
· Splendor Jewelry Co. Ltd., China.
BUSINESS REGISTRATION NUMBER
15824758
COMPANY FILE NUMBER
0363054
MANAGEMENT
Managing Director: Mr. Luk Wing Tong, Patrick
CAPITAL
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,000,000.00
SHAREHOLDERS
(As per registry dated
18-06-2011)
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Name |
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No. of shares |
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LUK Kam Tong, Benjamin |
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155,000 |
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LUK Wai Tong |
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155,000 |
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LUK Wing Tong |
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535,000 |
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LUK Yum Tong |
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155,000 |
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–––––––– |
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Total: |
1,000,000 ======= |
DIRECTORS
(As per registry
dated 18-06-2011)
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Name (Nationality) |
Address |
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LUK Wing Tong (British) |
Flat M, 4/F., 11 Hok Yuen Street, Hunghom, Kowloon, Hong Kong. |
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LUK Yum Tong (British) |
House 22, Stage 1, Marina Cove, Sai Kung, New Territories, Hong Kong. |
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LUK Kam Tong, Benjamin (British) |
Flat A, 19/F., Queen’s Heights, Shatin 33, Sui Wo Road, Fo Tan, Shatin, New Territories, Hong Kong. |
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LUK Wai Tong (British) |
Flat C, 25/F., Tower 18, Laguna Grande, Laguna Verde, Hunghom, Kowloon, Hong Kong. |
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CHIU Man Kam (British) |
Flat M, 4/F., 11 Hok Yuen Street, Hunghom, Kowloon, Hong Kong. |
SECRETARY
(As per registry
dated 18-06-2011)
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Name |
Address |
Co.
No. |
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Smart Fortune Consultants Ltd. |
Room 1109, 11/F., 118 Connaught Road West, Hong Kong. |
0392466 |
HISTORY
The subject was incorporated on 18th June, 1992 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 and Exporter.
Lines: Diamond jewellery, gemset jewellery, platinum jewellery, gold set jewellery with
diamond/colour stone/semi-precious/pearl tanzanite which include bridal sets, wedding rings, earrings, necklace, pendants, clasps, bracelets, bangles, etc.
Employees: 30. (Hong Kong)
200. (China)
Commodities Imported:-
· Diamond – India and Israel.
· Colour stone – Thailand and Myanmar.
· Gold ingot – Europe.
Markets: USA, Europe, Australia. Asia Pacific, etc.
Terms/Sales: T/T or L/C.
Terms/Buying: L/C, O/A, etc.
MEMBERSHIP
· Federation of Hong Kong Industries, Hong Kong. [Member No. A8839]
· Hong Kong Jewelry Manufacturers’ Association, Hong Kong.
FINANCIAL INFORMATION
Nominal Share Capital: HK$1,000,000.00 (Divided into 1,000,000 shares of HK$1.00 each)
Issued Share Capital: HK$1,000,000.00
Mortgage or Charge: (See attachment)
Profit or Loss: Traded at a profitable angle.
Condition: Keeping in a normal and satisfactory manner.
Facilities: Making active use of general banking facilities.
Payment: So far so good.
Commercial Morality: Satisfactory.
Bankers:-
· Hang Seng Bank Ltd., Hong Kong.
· Bank of China (Hong Kong) Ltd., Hong Kong.
· The Bank of East Asia Ltd., Hong Kong.
· DBS Bank (Hong Kong) Ltd., Hong Kong.
· Dah Sing Bank Ltd., Hong Kong.
Standing: Normal.
GENERAL
Legend Jewelry Co. Ltd. was incorporated in 1992 as a jewellery manufacturer and exporter. It is owned by the Luk family. The subject is a significant jewellery product manufacturer and trader in Hong Kong.
The subject manufactures diamond jewellery, gemset jewellery, platinum jewellery, gold set jewellery with diamond/colour stone/semi-precious/pearl tanzanite, etc. Products include bridal sets, wedding rings, earrings, necklace, pendants, clasps, bracelets, and bangles are mainly exported to the United States, Europe, Australia, South Africa and the Asia Pacific region. The United States is the subject’s largest market which accounts for about 70% of its exports. It is therefore the subject has set up two offices in the United States.
The subject has got a factory in China located at Panyu, Guangzhou City, Guangdong Province. The China factory covers an area of about 16,000 sq.m. and has been equipped with the latest machinery and equipment.
Currently, the China factory has about 300 workers who are responsible for the low to middle-end jewellery products. Business is active.
The products bear the brand names of “Adore” and “Solo”. Raw materials are imported from India, Sri Lanka, other Asian countries, Europe, the United States, etc.
Mr. Patrick Luk Wing Tong, the Managing Director of the subject, has won the “Young Industrialist Award of Hong Kong”. He had been elected as the Chairman of Hong Kong Jewelry Manufacturers’ Association from 2001 to 2003.
In 2009, the subject got the “Hang Seng Pearl River Delta Environmental Award”. The subject got ISO 9001:2008 in March 2010.
So far, the subject has set up retailing China shops in Panyu, Foshan, Changsha and Kunming. The shops bear either the name of Splendor Jewelry or Splendor.
In order to penetrate the international market further, Legend Jewelry has taken part in fairs and exhibitions held in Hong Kong and other foreign large cities. For instance, it has taken part in the following exhibitions or shows:-
United
States
· JCK Las Vegas show
Europe
· Vicenzaoro First, Italy
· Baselworld, Switzerland
· Vicenzaoro Charm, Italy
· Vicenzaoro Choice, Italy
Hong
Kong
· HK International Jewellery Show
· HK Jewellery & Gem Fair
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.
Products are exported to Japan, South Korea, Eastern and Western Europe, the Middle East, North America, etc. The annual sales turnover of the subject is very significant. The subject is fully supported by Legend Jewelry.
On the whole, in view of the subject’s background and reputation, consider it good for normal business engagements.
REMARKS:
Property information of the company:-
Property Location: Unit M and Flat Roof M on 4/F. and Private Car Parking Space No. C9 on Lower G/F., Kaiser Estate 3rd Phase, 9-11A Hok Yuen Street / 18 Man Lok Street, Kowloon, Hong Kong.
Owner: Legend Jewelry 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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06-12-1996 |
- |
Kwong On Bank Ltd., Hong Kong. [Renamed to DBS Kwong On Bank Ltd. but merged into DBS Bank (Hong Kong) Ltd.] |
Legal charge to secure general banking facilities |
MORTGAGE OR CHARGE
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Date |
Particulars |
Amount |
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03-08-1996 |
Instrument: Security Over Deposit As Borrower or Guarantor Property: Fixed Deposit A/C No. 59-503-7153-1 for HK$1,000,000.00 due on 03-09-1996 Mortgagee: Dah Sing Bank Ltd., Hong Kong. |
General banking facilities |
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06-12-1996 |
Instrument: Legal Charge Property: 123/5,000th parts or shares of and in Section I of Kowloon Marine Lot No. 40 and Subsection 1 of Section H of Kowloon Marine Lot No. 40 (Unit M and Flat Roof M on 4/F. and Private Car Parking Space No. C9 on Lower G/F. of Kaiser Estate 3rd Phase at 9-11A Hok Yuen Street / 18 Man Lok Street, Kowloon, Hong Kong.) Mortgagee: Kwong On Bank Ltd., Hong Kong. [Renamed to DBS Kwong On Bank Ltd. but merged into DBS Bank (Hong Kong) Ltd.] |
All monies |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.79 |
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UK Pound |
1 |
Rs.75.06 |
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Euro |
1 |
Rs.65.35 |
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.