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Report Date : |
07.07.2012 |
IDENTIFICATION DETAILS
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Name : |
NELSON JEWELLERY ARTS
CO. LTD. |
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Registered Office : |
2/F., Guardforce Centre, |
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Country : |
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Date of Incorporation : |
02.11.1984 |
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Com. Reg. No.: |
09311761 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Retailer and Exporter of all kinds of jewellery products including
14K and 18K gold fine diamond jewellery with gem-stone settings, precious
stone jewellery, platinum jewellery and South Sea pearl jewellery. |
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No. of Employees : |
Over 3,000. (Including Group) |
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
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
NELSON JEWELLERY
ARTS CO. LTD.
ADDRESS: 2/F., Guardforce Centre,
PHONE: 2362 2888, 2362 2333
FAX: 2764 4028
E-MAIL: info@nelson-jewellery.com
custserve@nelson-jewellery.com
Managing Director: Mr. Ho Chi
Kai, Nelson
Establishment: 30th
June, 1981. (Partnership)
Incorporated on: 2nd
November, 1984.
Organization: Private
Limited Company.
Capital: Nominal: HK$15,000,000.00
Issued: HK$15,000,000.00
Business Category: Jewellery Trader.
Annual Turnover: HK$450~500
million.
Group Employees: Over
3,000.
Main Dealing Bankers: Hang Seng Bank Ltd.,
The Hongkong & Shanghai Banking Corp. Ltd.,
Banking Relation: Good.
Registered Head Office:-
2/F., Guardforce Centre,
Overseas Offices/Factories:-
Tel: (1-213) 489 3323
Fax: (1-213) 489 1832
E-mail: info@nelsonus.com
Tel: (1-212) 398 8682
Fax: (1-212) 398 8683
E-mail: nynelson@nelsonus.com
Tel: (44) 01215231183
Fax: (44) 2081816439
E-mail: info-contact@uk.nelson-jewellery.com
Tel: (61) 2-9283-5020
Fax: (61) 2-9283-9250
E-mail: ausales@nelson-jewellery.com
[Operated by Nelson (Aust.) J.A. Pty. Ltd.]
322/22
14th Floor, Surawong Watthanakarn, Build Surawong Road, Sipraya Bangrak,
Tel: (66-2) 267 1222-5
Fax: (66-2) 267 1221
Gemopolis Industrial Estate, 47/11 Moo 4 Sukhapiban, 2 Road Prawes,
Tel: (66-2) 727 0176-80
Fax: (66-2) 727 0181
No.
18, Jie-Jin 2 Road,
Tel: (86-20) 8487 1571
Fax: (86-20) 8487 1517
[Operated by Pan-Hua Nelson Jewellery Arts Co. Ltd.]
China
Longmen Factory
Communication
Building, Right Side Xilin Bridge, Xiangbin East Road, Longcheng Town, Longmen
County, Huizhou City, Guangdong Province, China 516800.
Tel: (86-752) 778 8299
Fax: (86-752) 778 9477
[Operated by Long-Men Nelson Jewellery Co. Ltd.]
Holding Company:-
Nelson Jewellery Holdings Ltd.,
Associated/Affiliated
Companies:-
A & N Co. Pty. Ltd.,
China Diamond Production Co. Ltd.,
Long-Men Nelson Jewellery Co. Ltd.,
Nelgold Ltd.,
Nelson (Aust.) J.A. Pty. Ltd.,
Pan-Hua Nelson Jewellery Arts Co. Ltd.,
Sun Hing Diamond Co. Ltd.,
09311761
0143110
Managing Director: Mr. Ho Chi
Kai, Nelson
Contact Person: Mr. John Choi
Nominal Share Capital: HK$15,000,000.00 (Divided into 15,000,000 shares
of HK$1.00 each)
Issued Share Capital: HK$15,000,000.00
(As per registry dated 02-11-2011)
|
Name |
|
No. of shares |
|
Nelson Jewellery Holdings Ltd. |
|
15,000,000 ======== |
(As per registry dated 02-11-2011)
|
Name (Nationality) |
Address |
|
HO Chi Kai, Nelson |
2/F., Guardforce Centre, |
|
CHUNG Yuk Wah, Christina |
2/F., Guardforce Centre, |
(As per registry dated 02-11-2011)
|
Name |
Address |
|
Adam Christopher HAN |
2/F., Guardforce Centre, |
The subject was originally established on 30th June, 1981 as a
partnership concern jointly owned by Mr. Ho Chi Kai and Mr. Chow Lap Koon under
the name of Nelson Jewellery Arts Company.
Re-organized and incorporated on 2nd November, 1984 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.
Activities: Importer,
Retailer and Exporter.
Lines: All
kinds of jewellery products including 14K and 18K gold fine diamond jewellery
with gem-stone settings, precious stone jewellery, platinum jewellery and South
Sea pearl jewellery.
Trade Mark: “NELSON”
brand.
Office Floor Space: 30,000
sq.ft. – owned by associate.
Group Employees: Over 3,000.
Commodities Imported: Imported from
Markets:
Annual Turnover: HK$450~500 million.
Terms/Sales:
As per contracted.
Terms/Buying: On
various terms.
Federation of
Hong Kong Jewellery & Jade Manufacturers Association,
Hong Kong Jewelry Manufacturers’ Association,
The Chinese General Chamber of Commerce, Hong Kong.
The Chinese Manufacturers’ Association of
[Membership No. 005885]
The Hong Kong General Chamber of Commerce,
[Membership No. HKN0124]
The Hong Kong Jade & Stone Manufacturers Association,
Nominal Share Capital: HK$15,000,000.00 (Divided into 15,000,000 shares
of HK$1.00 each)
Issued Share Capital: HK$15,000,000.00
Alternation of Capital:-
|
Initially |
paid up |
HK$ 1,000,000.00 |
|
15-06-2009 |
paid up |
HK$ 14,000,000.00 |
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–––––––––––––––– |
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Total: |
paid up |
HK$ 15,000,000.00 ============== |
Increase of Nominal Capital:-
|
From |
HK$1,000,000.00 |
to |
HK$15,000,000.00 |
on |
15-06-2009 |
Mortgage or Charge: (See attachment)
Profit or Loss: Business is profitable.
Condition: Maintaining
in a good condition.
Facilities: Making
active use of general banking facilities.
Payment:
Met trade
commitments as contracted.
Commercial Morality: Satisfactory.
Bankers:-
Hang Seng Bank Ltd.,
The Hongkong & Shanghai Banking Corp.
Ltd.,
Standard Chartered Bank (Hong Kong)
Ltd.,
The Bank of
Industrial & Commercial Bank of
Bank of
Standing:
Good.
Nelson Jewellery Arts Co. Ltd. was founded by Mr. Nelson Ho Chi Kai in
1981. The subject is a wholly-owned
subsidiary of Nelson Jewellery Holdings Ltd. which is a BVI-registered
firm. It has expanded from a local
sub-contractor to a major diamond and gold jewellery manufacturer.
The subject is one of the leading manufacturers and exporters of diamond
and jewellery products in the global market.
Its is engaged in manufacturing, marketing and exporting of fine
jewellery. It is also trading in fine
diamond and gemstone jewellery, set in platinum and/or gold.
In 1996, the subject became the first jewellery manufacturer got “The
Hong Kong Award for Industry: HKPC Productivity”. Mr. Nelson Ho was also bestowed the title of
“The Young Industrialist of Hong Kong” in 1998.
The title has showed the public recognition of his achievements in
management and contribution to
Having a diamond polishing and stone cutting factory in
The subject’s
The subject’s operations are backed up by a number of overseas sales
offices in
The subject has been a market leader in the jewellery manufacturing
industry for many years. In 1995, the
subject innovated the utilisation of laser welding technology and the wax
setting technique to enhance productivity.
It also has adopted the CAD/CAM model-making technology for automating
its design processes.
In 2000, Mr. Nelson Ho invested more than US$2 million to introduce the
world’s premier SAP-ERP Enterprise Resource Management System, making the
subject the first company in the world to apply the system in the jewellery
industry.
In order to penetrate the international market further, the subject has
taken part in fairs and exhibitions held in
The annual sales turnover of the subject ranges from HK$450 to 500
million. Business is lucrative.
As the history of the subject in
Property
information of affiliate:-
Property Location: 2/F.,
Guardforce Centre,
Owner: Nelgold
Ltd.
Date of Purchase: 18-02-1998
Purchased Price: HK$28,000,000 pt.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
18-02-1998 |
- |
The Hongkong & Shanghai Banking Corp. Ltd., |
Mortgage to secure general banking facilities |
|
Date |
Particulars |
Amount |
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02-05-2000 |
Instrument: Charge Over Deposits Property: By way of fixed charge and release to The Bank of Nova Scotia all
their present future rights in the respect of: (a) the sum deposited by
Nelson Jewellery Arts Co. Ltd. or for their benefit in the account or as
evidenced by the deposit instrument or other evidence of indebtedness; and
(b) all other sums in any currency from time to time standing to Nelson
Jewellery Arts Co. Ltd.’s credit or the credit of any other persons for their
benefit on any deposit account Mortgagee: The Bank of |
All banking facilities or other accommodation or services |
|
27-11-2006 |
Instrument: Security Over Deposits with The Bank
(Limited Company – Under Seal) Property: All monies for the time being standing to the credit of the deposit
account No. 009-206251-003 Mortgagee: The Hongkong & Shanghai Banking
Corp. Ltd., |
To secure general banking facilities |
|
10-06-2010 |
Instrument: Deed of Indemnity, Charge Over Deposit
and Set‑off Property: All the Company’s estate, right, title, claim, benefit and interest to
and in the Deposit (account no. 01266292074939) and all interest from time to
time payable thereon and together with all title deeds or documents relating
thereto Mortgagee: Bank of |
All moneys in respect of general banking facilities |
|
21-04-2011 |
Instrument: Charge Over Deposits (2-Party) Property: All monies and deposits now or hereafter in the time deposit Account No.
394-141311 and 394-141311-001 kept by the Company with Hang Seng Bank Ltd. Mortgagee: Hang Seng Bank Ltd., |
To secure all monies and liabilities which are now or at any time
hereafter may be outstanding owing or payable by the Company to Hang Seng
Bank Ltd. |
DIAMOND INDUSTRY –
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From time immemorial,
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The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
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The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
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Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
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Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
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The diamond jewellery industry in
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Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
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Excerpts from Times of India dated 30th
October 2010 is as under –
DIAMOND
SAGA – DIRTY DOZEN STUCK WITH 2K CR DEBT
This could be the biggest credibility crisis
the Indian diamond industry has ever faced. Fifteen banks run the risk of
losing Rs 2000 crore lent to a dozen diamond firms in
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Most of the money borrowed from the banks in the name
of their diamond business has been diverted in real estate and the share
market. The banks are not in a position to seize their properties because in
many cases, these were purchased in the name of their relatives and friends.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.42 |
|
|
1 |
Rs.86.04 |
|
Euro |
1 |
Rs.68.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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.