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Report Date : |
12.07.2014 |
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 : |
30.06.1981 |
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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. Subject are the main products includes Diamond Ring, Emerald Ring, Sapphire Ring,
Diamond Necklace, 18K White Gold Diamond Ruby Bracelet, 18K White Gold
Diamond Ring, 18K White Gold Jade Diamond Ring, Emerald Necklace, Emerald
Ring, Diamond Ring, 18K White Gold South Sea Pearl Necklace & 18K White
Gold Diamond Bracelet |
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No. of Employees : |
3,300 |
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 : |
Good |
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
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Source : CIA |
NELSON JEWELLERY ARTS
CO. LTD.
ADDRESS: 2/F.,
Guardforce Centre,
PHONE: 852-2362 2888, 2362 2333
FAX: 852-2764 4028, 2330 3274
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$500~550 million.
Group Employees: 3,300.
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
General Manager: Ms. Candy Lau
Contact Person: Mr. Roy Tam
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 02-11-2013)
|
Name |
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No. of shares |
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Nelson Jewellery Holdings Ltd. |
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15,000,000 ======== |
(As per registry
dated 02-11-2013)
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Name (Nationality) |
Address |
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HO Chi Kai, Nelson |
2/F., Guardforce Centre, |
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CHUNG Yuk Wah, Christina |
2/F., Guardforce Centre, 3 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong. |
(As per registry
dated 02-11-2013)
|
Name |
Address |
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Adam Christopher HAN |
2/F., Guardforce Centre, 3 Hok Yuen Street East, Hunghom, Kowloon, Hong Kong. |
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”.
Office Floor Space: 30,000 sq.ft. – owned by associate.
Group Employees: 3,300.
Commodities Imported: Imported from South Africa, Belgium, Israel and other European countries.
Markets: Hong Kong, Japan, Southeast Asia, USA, Europe, Middle East, Australia, etc.
Annual Turnover: HK$500~550 million.
Terms/Sales: As per contracted.
Terms/Buying: Various terms.
Federation of Hong Kong
Industries, Hong Kong.
[Membership No. A8577]
Hong Kong Jewellery &
Jade Manufacturers Association, Hong Kong.
[Membership No. 123]
Hong Kong Jewelry Manufacturers’ Association, Hong Kong.
The Chinese General Chamber of Commerce, Hong Kong.
The Chinese
Manufacturers’ Association of Hong Kong, Hong Kong.
[Membership No. 005885]
The Hong Kong General
Chamber of Commerce, Hong Kong.
[Membership No. HKN0124]
Tahitian Pearl Association Hong Kong.
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:-
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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., Hong Kong.
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
The Bank of Nova Scotia, Hong Kong Branch.
Industrial & Commercial Bank of China (Asia) Ltd., Hong Kong.
Bank of China (Hong Kong) Ltd., Hong Kong.
Standing: Very 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. The directors of the subject are Nelson Ho Chi Kai and his wife Ms. Christina Chung Yuk Wah.
The subject 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. It 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.
The followings are the main products of the subject: diamond ring, emerald ring, sapphire ring, diamond necklace, 18K white gold diamond ruby bracelet, 18K white gold diamond ring, 18K white gold jade diamond ring, emerald necklace, emerald ring, diamond ring, 18K white gold south sea pearl necklace & 18K white gold diamond bracelet
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 Hong Kong’s jewellery industry. Furthermore, Mr. Nelson Ho also received the “Top Ten Business Maker Award” in 2000 for his extraordinary accomplishments in exploring the international market.
Having a diamond polishing and stone cutting factory in Bangkok, Thailand, the subject fully controls the quality and quantity of its diamond products. Additionally, its three large jewellery factories in China and Hong Kong are equipped with advanced equipment in order to maximize its productivity.
Its significant factories in China are China Panyu Factory and China Longmen Factory. The former is in Panyu, Guangzhou City, Guangdong Province, China while the latter is in Longmen County, Huizhou City, Guangdong Province, China.
The subject’s Hong Kong factory covers an area of about 3,000 sq.ft. All of the subject’s products are ISO 9001:2000 certified.
The subject’s operations are backed up by a number of overseas sales offices such as in New York, Los Angeles, Miami of the United States, Sydney of Australia, Germany, Shanghai of China, Taipei of Taiwan and Birmingham of the United Kingdom, Milan of Italy, Kuala Lumpur of Malaysia.
Most of the subject’s customers are international jewellery importers and wholesalers. It is also a direct marketer of its own products. It has got about 3,000 employees including factory workers and overseas staff.
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 recent years, the subject has developed its own branded product bearing the trade mark Nelson. Engaged in Original Brand Manufacturing [OBM], the subject now has about 100 designers working in Hong Kong and China.
In order to penetrate the international market further, the subject has taken part in fairs and exhibitions held in Hong Kong and other foreign large cities.
The subject takes part in some 40 large-scale trade shows in overseas countries in order to achieve more business opportunities. For instance, it has been taking part in the following shows and exhibitions:-
The United States:
Jewelers Int’l Showcase, Miami (Jan)
JA New York Winter Show (Mar)
Jewelers Int’l Showcase, Miami (Mar)
JCK Las Vegas Show (May)
JA New York Summer Show (Jul)
JA Special Delivery New York (Oct)
Jewelers Int’l Showcase, Miami (Oct)
Europe:
Vicenzaoro Winter, Italy (Jan)
Inhorgenta Munich, Germany (Feb)
Spring Fair Birmingham, UK (Feb)
Baselworld, Switzerland (Mar)
Vicenzaoro Spring, Italy (May)
Int’l Jewellery London, UK (Sep)
Vicenzaoro Fall, Italy (Sep)
Hong Kong:
HK Int’l Jewellery Show (Mar)
HK Jewellery & Gem Fair (Jun)
HK Jewellery & Gem Fair (Sep)
HK Int’l Jewelry Manufacturers’ Show (Nov)
Australia:
JAA Int’l Jewellery Fair, Sydney (Sep)
The subject is also a member of Tahitian Pearl Association Hong Kong.
The annual sales turnover of the subject ranges from HK$500 to 550 million. Business is lucrative and active.
Currently, the subject has about 250 staff in Hong Kong.
As the history of the subject in Hong Kong is over twenty-nine years and four months, on the whole, consider it good for normal business engagements.
Property
information of affiliate:-
Property Location: 2/F., Guardforce Centre, 3 Hok Yuen Street East, Kowloon, Hong Kong.
Owner: Nelgold Ltd.
Date of Purchase: 18-02-1998
Purchased Price: HK$28,000,000 pt.
Incumbrances:-
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Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
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18-02-1998 |
- |
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
Mortgage to secure general banking facilities |
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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 Nova Scotia, Hong Kong Branch. |
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., Hong Kong. |
To secure general banking facilities |
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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 China (Hong Kong) Ltd., Hong Kong. |
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., Hong Kong. |
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 – INDIA
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From time immemorial, India is well known in the world as the birthplace
for diamonds. It is difficult to trace the origin of diamonds but history
says that in the remote past, diamonds were mined only in India. Diamond
production in India can be traced back to almost 8th Century B.C.
India, in fact, remained undisputed leader till 18th Century
when Brazilian fields were discovered in 1725 followed by emergence of S.
Africa, Russia and Australia.
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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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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 –
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Gem & Jewellery Export Promotion Council in its statistical data has
shown the export of polished diamonds to have increase by 28 % in February
2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012,
India exported $ 1.84 billion worth of polished diamonds in February 2013. A
senior executive of GJEPC said, “Export of cut and polished diamonds started
falling month-wise after the imposition of 2 % of import duty on the polished
diamonds. But February, 2013 has given a new ray of hope to the industry as the
export of polished diamonds has actually increased by 28 %. It means the
industry is on the track of recovery and round tripping of diamonds has
stopped completely.” Demand has started coming from the US, the UK, Japan and
China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.
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The banking sector has started exercising restraint while following
prudent risk management norms when lending money to gems and jewellery sector.
This follows the implementation of Basel III accord – a global voluntary
regulatory standard on bank capital adequacy, stress testing and market
liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 60.19 |
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|
1 |
Rs. 103.15 |
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Euro |
1 |
Rs. 81.87 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.