|
Report No. : |
331525 |
|
Report Date : |
15.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
BRILLIANT TRADING CO. (1974) LTD. |
|
|
|
|
Registered Office : |
Room 2103, 21/F., World-Wide House, 19 Des Voeux Road Central |
|
|
|
|
Country : |
Hong Kong
|
|
|
|
|
Date of Incorporation : |
19.11.2003 |
|
|
|
|
Com. Reg. No.: |
34134249 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
LINE OF BUSINESS : |
IMPORTER,
EXPORTER AND WHOLESALER OF ALL KINDS OF JEWELLERY AND DIAMOND
PRODUCTS |
|
|
|
|
No. of Employees : |
18 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
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 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
HONG KONG - ECONOMIC OVERVIEW
Hong Kong has a free market economy, highly dependent on
international trade and finance - the value of goods and services trade,
including the sizable share of re-exports, is about four times GDP. Hong Kong
has no tariffs on imported goods, and it levies excise duties on only four
commodities, whether imported or produced locally: hard alcohol, tobacco,
hydrocarbon oil, and methyl alcohol. There are no quotas or dumping laws. Hong
Kong's open economy left it exposed to the global economic slowdown that began
in 2008. Although increasing integration with China, through trade, tourism,
and financial links, helped it to make an initial recovery more quickly than
many observers anticipated, its continued reliance on foreign trade and
investment leaves it vulnerable to renewed global financial market volatility
or a slowdown in the global economy. The Hong Kong government is promoting the
Special Administrative Region (SAR) as the site for Chinese renminbi (RMB)
internationalization. Hong Kong residents are allowed to establish
RMB-denominated savings accounts; RMB-denominated corporate and Chinese
government bonds have been issued in Hong Kong; and RMB trade settlement is
allowed. The territory far exceeded the RMB conversion quota set by Beijing for
trade settlements in 2010 due to the growth of earnings from exports to the
mainland. RMB deposits grew to roughly 12.5% of total system deposits in Hong
Kong by the end of 2014. The government is pursuing efforts to introduce
additional use of RMB in Hong Kong financial markets and is seeking to expand
the RMB quota. The mainland has long been Hong Kong's largest trading partner,
accounting for about half of Hong Kong's total trade by value. Hong Kong's
natural resources are limited, and food and raw materials must be imported. As
a result of China's easing of travel restrictions, the number of mainland
tourists to the territory has surged from 4.5 million in 2001 to 47.3 million
in 2014, outnumbering visitors from all other countries combined. Hong Kong has
also established itself as the premier stock market for Chinese firms seeking
to list abroad. In 2014 mainland Chinese companies constituted about 50% of the
firms listed on the Hong Kong Stock Exchange and accounted for about 60.1% of
the Exchange's market capitalization. During the past decade, as Hong Kong's
manufacturing industry moved to the mainland, its service industry has grown
rapidly. Credit expansion and tight housing supply conditions have caused Hong
Kong property prices to rise rapidly; consumer prices increased by more than
4.4% in 2014. Lower and middle income segments of the population are
increasingly unable to afford adequate housing. Hong Kong continues to link its
currency closely to the US dollar, maintaining an arrangement established in
1983. In 2014, Hong Kong and China signed a new agreement on achieving basic
liberalization of trade in services in Guangdong Province under the Closer
Economic Partnership Agreement, adopted in 2003 to forge closer ties between
Hong Kong and the mainland. The new measures, effective from March 2015, cover
a negative list and a most-favored treatment provision, and will improve access
to the mainland's service sector for Hong Kong-based companies.
|
Source
: CIA |
BRILLIANT TRADING CO. (1974) LTD.
ADDRESS: Room 2103, 21/F.,
World-Wide House, 19 Des Voeux Road Central, Hong Kong.
PHONE: 852-2524
5246, 2885 7823
FAX: 852-2868 1918
E-MAIL: brilliant@btc.com.hk
MANAGEMENT:
Managing Director: Ms. Cheung Yin
Kuen
Incorporated on: 19th November, 2003.
Organization: Private Limited Company.
Issued Share Capital: HK$46,940,000.00
Business Category: Jewellery
Trader.
Employees: 18.
Main Dealing Banker: Hang Seng
Bank Ltd., Hong Kong.
Banking Relation: Satisfactory.
BRILLIANT TRADING CO. (1974) LTD.
Registered Head
Office:-
Room 2103, 21/F., World-Wide House, 19 Des Voeux Road Central, Hong
Kong.
Subsidiary:-
Brilliant Diamond Jewellery Ltd.
No. 1001, 10/F., Prosperous Building, 48-52 Des Voeux Road, Central,
Hong Kong.
[Tel: 852-3590 5736
Fax: 852-3590 2075
E-mail: bdj@btc.com.hk]
China Factories:-
Helix (Panyu) Diamond & Jewellery Co. Ltd.
Dongliu Industrial Area, Dagang Town, Panyu, Guangzhou City, Guangdong
Province, China.
Shanghai Shinely Diamond Co. Ltd., China.
Associated
Companies:-
*Brilliant Diamond Manufacturing Ltd., Hong Kong.
Brilliant Trading BVBA, Belgium.
Brilliant Trading Co. Pvt. Ltd., India.
*Brilliant Trading Co., Hong Kong.
*Crescendo Jewellery Design Ltd., Hong Kong.
Guangzhou Zhengjin Jewellery Design Co. Ltd., China.
Helix Diamond Co. Ltd., Hong Kong.
(Same address)
Shanghai Brilliant Diamond Co. Ltd., China.
*Shanghai Diamond Manufacturing Co. Ltd., Hong Kong.
Shenzhen Brilliant Jewelry Co. Ltd., China.
Shenzhen Jinzhi Jewellery Co. Ltd., China.
Y2 International Co. Ltd., Hong Kong.
Zuri Jewelry Co. Ltd., Hong Kong.
* (Same address)
34134249
0871433
Managing Director: Ms. Cheung Yin
Kuen
Contact Person: Ms. Mabel Tam
HK$46,940,000.00
(As per registry dated 19-11-2014)
|
Name |
|
No. of shares |
|
YIU Man Hung, Willie |
|
1,549 |
|
CHEUNG Yin Kuen |
|
1,549 |
|
YIU Wai Yin, Victor |
|
610 |
|
YIU Wai Lun, Alan |
|
516 |
|
YIU Wai Pong, Vincent |
|
470 |
|
|
|
––––– |
|
|
Total: |
4,694 ==== |
(As per registry dated 19-11-2014)
|
Name (Nationality) |
Address |
|
CHEUNG Yin Kuen |
Flat B, 20/F., Woodbury Court, 137 Pok Fu Lam Road, Hong Kong. |
|
YIU Man Hung, Willie |
Flat B, 20/F., Woodbury Court, 137 Pok Fu Lam Road, Hong Kong. |
(As per registry dated 19-11-2014)
|
Name |
Address |
|
SZE Hok Chi, Sandro |
Room 2103, 21/F., World-Wide House, 19 Des Voeux Road Central, Hong
Kong. |
The subject was incorporated on 19th November, 2003 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,
Exporter and Wholesaler.
Lines: All
kinds of jewellery and diamond products.
Brand Names: BTC,
Crescendo, BDJ and Zokin.
Employees: 18.
Commodities Imported: India,
Europe, US.
Markets: China,
Hong Kong, Australia, Japan, South Korea, other Asian countries, Middle East,
Europe, North
America, etc.
Terms/Sales: L/C or as per contracted.
Terms/Buying: As per contracted.
MEMBERSHIP: Diamond
Federation of Hong Kong, China Ltd., Hong Kong.
Federation of Hong Kong Industries,
Hong Kong. [Member No. A9486]
Hong Kong Jewellery & Jade Manufacturers
Association, Hong Kong.
The Belgium-Luxembourg Chamber of Commerce
in Hong Kong.
Issued Share Capital: HK$46,940,000.00
Mortgage or Charge (since 2010): (See attachment)
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.
Bankers:-
Hang Seng Bank Ltd., Hong Kong.
Industrial & Commercial Bank of China
(Asia) Ltd., Hong Kong.
Standing: Very Good.
Having issued 4,694 ordinary shares of HK$10,000.00 each, Brilliant
Trading Co. (1974) Ltd. is jointly owned by five Hong Kong merchants, Mr. Yiu
Man Hung, Willie, holding 33% interests; Ms. Cheung Yin Kuen, also holding 33%;
Mr. Yiu Wai Yin, Victor, 13%; Mr. Yiu Wai Lun, Alan, 11%; and Mr. Yiu Wai
Pong, Vincent, 10%. The subject is
chiefly owned by the Yiu family.
The subject is a diamond and jewellery products trader. Its associated company was established in
1974. In 1982, the subject moved its
production facilities to China. In 2004,
the subject diversified its businesses into diamond jewellery designing and manufacturing. This has enhanced the competitive edge of the
subject and enabled it to be a one-stop diamond jewellery supplier. In 2006, the subject got ISO 9001:2000
certification.
The subject has transformed itself from a polished diamond manufacturer
to a fully integrated diamond jewellery supplier.
Today, it offers its customers with a fully integrated service from
diamond wholesaling, subcontracting production process, factory management
service, as well as diamond jewellery designing and manufacturing services
through its different business units.
The subject has set up its own factories in China since 1983 which are
engaged in diamond cutting and jewellery manufacturing on a large scale and
have employed professionals to supervise the production lines and
management. Today, having three
affiliated factories in China, the subject has bad 3,500 experienced workers,
with annual rough production capacity of 360,000 carats and more than 300,000
pieces of jewellery.
The subject’s main factory is located at Dongliu Industrial Area, Dagang
Town, Panyu, Guangzhou City, Guangdong Province, China. This factory has about 300 workers.
Most of the subject’s products bear the brand name BTC. Its significant products are diamond bangles
and diamond jewellery sets, diamond necklace.
Besides selling polished diamonds and engaged in jewellery
manufacturing, the subject also provides sub-contract services in polishing and
professional consultancy and technical support to those intending to set up
diamond cutting factory in China.
The subject has had a subsidiary company known as Brilliant Diamond
Jewellery Ltd. [BDJ] located at a different address. BDJ concentrates on diamond jewellery and has
a comprehensive product range from wedding bands, wedding sets and other
fashion jewelleries in different gold carat.
The subject has been a member of the Shanghai Diamond Exchange since its
establishment. Following the growth of
business, it has formed a strategic partnership with one of the top jewellery
retail brands in China “DIAMEND” and opened its own retail stores in
China.
In order to penetrate the international market further, the subject has
taken part in fairs and exhibitions held in Hong Kong and China.
For instance, it is going to take part in “HKTDC Hong Kong International
Jewellery Show 2016” which will be held in Hong Kong Convention and Exhibition
Centre, Wanchai, Hong Kong during the period of 3rd to 7th March, 2016. Its booth No. is CEC 1C-F02.
In 2008, the subject partnered with Z-kin Jewellery to form Zuri Jewelry
Co. Ltd. [Zuri], a jewellery company registered in Hong Kong and specialised in
original design manufacturing. Zuri
provides retailers with design, packaging, product concept and market planning
services. It helps clients put together
collections and designs that ‘best reflect their brands and identities’. Today, Zuri has more than 30 long-term
clients who are mainly large-scale retailers in China. Zuri is located at a different address in
Hong Kong.
The subject has set up associated companies in Hong Kong, China and
Belgium. Business is in a satisfactory
manner. The annual sales turnover of the
subject is very significant.
As the history of the subject is over eleven years and seven months in
Hong Kong, on the whole, consider it good for normal business
engagements..
(Since 2010)
|
Date |
Particulars |
Amount |
|
19-09-2011 |
Instrument: Security Deed in respect of
Obligations of the Mortgagor and the Third Parties Property: By way of first fixed Mortgage to the Mortgagee all the securities as
recorded from time to time in the Custodian Account No. 861912315106 Mortgagee: Industrial & Commercial Bank of
China (Asia) Ltd., Hong Kong. |
All principal, interest, fees, costs, expenses, charges, compensation,
damages and other moneys which are or at any time in the future may become
payable by the Mortgagor and/or Helix Diamond Co. Ltd. and/or Shanghai
Diamond Manufacturing Co. Ltd. to the Mortgagee |
|
02-12-2011 |
Instrument: Charge over Securities (2-Party) Property: The Chargor’s account number 773-029392-382 Mortgagee: Hang Seng Bank Ltd., Hong Kong. |
To secure owing all monies in any currency |
|
02-12-2011 |
Instrument: Charge over Deposits/Securities
(2-Parties) Property: The Chargor charges by way of first fixed charge to the Bank all the
right, title and interest of the Chargor in and to the Charged Assets Mortgagee: Hang Seng Bank Ltd., Hong Kong. |
To secure owing all monies in any currency |
|
10-07-2012 |
Instrument: Deed of Indemnity, Charge Over Deposit
and Set-Off Property: By way of Fixed Charge to the Bank all the Company’s estate, right,
title, claim, benefit and interest to and in the Deposit (Account No. 012-2980989-3)
and all interest from time to time payable thereon and together with all
title deeds and documents relating thereto Mortgagee: Bank of China (Hong Kong) Ltd.,
Hong Kong. |
All moneys in respect of general banking facilities of whatever nature
and in whatever currency or currencies to any extent Bank of China
(Hong Kong) Ltd. shall think fit granted or to be granted to Brilliant
Trading Company (1974) Ltd. on such terms, conditions, manner and form and
for so long as the Bank may at its sole discretion think fit together with
interest accrued thereon |
|
12-01-2012 |
Instrument: Security Deed Property: The securities are all the Obligor’s title, rights and interests, all
moneys standing to the credit of the account. all moneys in the obligor’s account
with the deposit No. 01-0001-000 under the Bank A/C No. 020-601-861-07338-0.
Securing Unlimited amount, all past, present, future, actual and contingent
moneys, debt and liabilities of the Principal to the Bank Mortgagee: Wing Lung Bank Ltd., Hong Kong. |
To secure banking facilities from time to time granted by Wing Lung
Bank Ltd. to the Company |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.50 |
|
|
1 |
Rs.98.20 |
|
Euro |
1 |
Rs.69.73 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
TPT |
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.