MIRA INFORM REPORT
|
Report No. : |
348643 |
|
Report Date : |
13.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
TIN FUNG JEWELLERY CASTING CO |
|
|
|
|
Registered Office : |
Rm. P, 9/F, Phase 3, Kaiser Estate, 9-11 Hok Yuen Street, Hung Hom,
Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
18.09.2008 |
|
|
|
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Com. Reg. No.: |
39828118 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Manufacturing and sale of accessories of
jewelry. |
|
|
|
|
No. of Employee : |
About 20 Employees (Hong Kong) |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Unknown |
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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, 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 |
Contact
Points
|
Company Name (in English): |
Tin Fung Jewellery Casting Co |
|
Supplied Name: |
TIN FUNG JEWELLERY CASTING CO |
|
Trading Address: |
Rm. P, 9/F, Phase 3, Kaiser Estate, 9-11 Hok Yuen Street, Hung Hom,
Kowloon, Hong Kong |
|
Supplied Address: |
9/F, Kaiser Estate Phase, 3, 9-11 Hok Yuen Stret Hunghom Kowloon |
Note: The exact name and address are as above.
Company
Identification Details
|
Registered Name: |
|
|
Registered Address: |
Rm. P, 9/F, Phase 3, Kaiser Estate, 9-11
Hok Yuen Street, Hung Hom, Kowloon, Hong Kong |
|
Telephone Number: |
+852-2334-5610/2363-3826 |
|
Fax Number: |
+852-2334-9280 |
|
E-mail: |
|
|
Date of Registration: |
2008-9-18 |
|
Business Registration No.: |
39828118 |
|
Registered Capital: |
N/A |
|
Legal Form: |
Sole Proprietorship |
|
SITC Code: |
89731--Articles of jewellery
and parts thereof, of precious metals or metals clad with precious metals (g) |
|
Principal Activities: |
Manufacturing and sale of accessories of
jewelry |
|
Staff: |
About 20 Employees (Hong Kong) |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
-- |
Notes: We cannot obtain
the registered capital for the company with the legal form of Sole
Proprietorship.
History
Subject was incorporated on 2008-9-18 with the
business registered number 39828118 as Sole Proprietorship in Hong Kong.
Corporate
Structure
Related Company
|
Name: |
Yat Fung Precious Metals Manufactory Co., LTD |
|
Address: |
Rm. P, 9/F, Phase 3, Kaiser Estate, 9-11 Hok Yuen Street, Hung Hom,
Kowloon, Hong Kong |
|
Telephone Number: |
+852-2334-5610/2363-3826 |
|
Fax Number: |
+852-2334-9280 |
Offices
|
Name: |
Panyu Office |
|
Address: |
2/F, No.34 Yinjian Road, Daluotang Shiqiao
Town, Pan Yu, Guangzhou, China |
|
Telephone Number: |
+86-20-6685-6321 |
Owner
|
Name: |
Lin, Wan Yang |
|
Position: |
Owner |
|
Address: |
Flat H Block 37, 13F, Laguna City, Lam Tin,
KL, Hong Kong |
|
Date of Incoming: |
2010-3-31 |
Personnel
Structure
|
Total Employees |
Operation
Information
Offices &
Factories
|
|
Office |
|
Address: |
Rm. P, 9/F, Phase 3, Kaiser Estate, 9-11 Hok Yuen Street, Hung Hom,
Kowloon, Hong Kong |
Premises
Information
Office address:
|
Address: |
Rm. P, 9/F, Phase 3, Kaiser Estate, 9-11 Hok
Yuen Street, Hung Hom, Kowloon, Hong Kong |
|
Owners: |
Yat Fung Precious Metals Manufactory Company
Limited |
|
Memorial Number: |
08020603780188 ASSIGNMENT |
|
Date of Instrument: |
2008-1-8 |
|
Date of Registration: |
2008-2-6 |
|
Consideration Value: |
HKD 6,980,000.00 |
History of
Premises Owners’
|
1 |
|
|
Memorial No.: |
10070800640193 |
|
Date of Instrument: |
2010-6-22 |
|
Date of Registration: |
2010-7-8 |
|
Nature: |
Mortgage |
|
In Favor of: |
Dbs Bank (Hong Kong) Limited |
|
Consideration: |
All Monies |
|
2 |
|
|
Memorial No.: |
07102602610203 |
|
Date of Instrument: |
2007-10-22 |
|
Date of Registration: |
2007-10-26 |
|
Nature: |
Agreement For Sale And Purchase |
|
In Favor of: |
Yat Fung Precious Metals Manufactory Company
Limited |
|
Consideration: |
HKD 6,980,000.00 |
|
3 |
|
|
Memorial No.: |
UB2104392 |
|
Date of Instrument: |
1981-6-8 |
|
Date of Registration: |
1981-6-25 |
|
Nature: |
Deed Of Mutual Covenant |
Production Information
Subject is engaged in manufacturing of
accessories of jewelry
It is introduced that subject has a factory in
Hong Kong and a factory in the Mainland of China for production.
Purchase
Information
It is introduced that subject’s raw materials
for production are mainly purchased in the Mainland of China.
Sales Information
Subject is engaged in sale of accessories of
jewelry
The major products of the subject include
precious metals accessories include 9999 gold, platinum, palladium, silver
It is introduced that subject also provides
OEM service.
Subject’s business also includes trading,
refining (including jewelry diamonds demolishing, gems refining, purification
of all kinds of precious metals), fineness testing and recycling of precious metals
The major sales regions of the subject are
domestic market and North America
Subject’s major customers are manufacturers of
jewelry and watches
The detail product information as follows
|
Category |
Products |
|
Earring fittings |
Earring nuts, compatible nuts, posts and ear
nuts, blossom nuts, earring hooks, ear clips, omega clips, ear pin), chain
fittings (lobster buckle, snaps, tongues, coil, folder, ring, etc. |
|
Panel |
Our prong round peg setting, six prong round
peg setting, flat four prong round peg setting, earring setting, claw head
hollow, etc. |
|
Pearl and brooch fittings |
Pear, pearl button, long needle, etc. |
|
Others |
Sheet, gold shells, laser line, elastic
sequin, mold, cuff link, pure gold, hollow tube |
Settlements
Purchase
Domestic Purchase
|
Products |
Raw materials |
|
Payment Terms |
T/T, Cash |
Import
Subject has little import.
Sales
Domestic Markets
|
Product |
Accessories of jewelry |
|
Selling Terms |
T/T, Cash |
Export
|
Product |
Accessories of jewelry |
|
Selling Terms |
L/C, T/T |
Financial
Information
The subject has no
obligation to supply its financial statement to the third party according to
the relevant policy in Hong Kong and the only source from which we can obtain the
information is the subject itself.
Subject’s relevant staff rejected to disclose
the financial information; from other sources we could not obtain such
information, either.
Bankers
Subject declined to disclose its bank details; from other source we could
not obtain the relevant information, either.
Public
Civil Litigation
|
2009-09-29 |
|
|
Court Name: |
High Court Commercial Action |
|
Court No.: |
LBTC5762 |
|
Claimant: |
(CHEUNG MAN KUEN) (Defendant in counterclaim) (LBTC5762/2009) (Parties) |
|
Defendant: |
(LIN WAN YANG TRADING AS TIN FUNG JEWELLERY FOUNDER CO.) (LIN YANG YANG TRADING AS TIN FUNG JEWELLERY CASTING CO.) (Claimant in counterclaim) (LBTC) (Parties) |
|
Reason: |
Not Stated |
Mortgage Record
No mortgage record of the subject was found.
Special
Note
Interview Details
|
Name |
Ms. Yao |
|
Department: |
Sales Department |
Industry
Information
89731--Articles of jewellery and
parts thereof, of precious metals or metals clad with precious metals (g)
Unit: HKD/000
|
|
2015.06 |
2015.01~2015.06 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
United Arab Emirates |
297,480 |
172,064 |
2,589,916 |
1,822,850 |
|
1,728 |
784 |
15,590 |
3,166 |
|
|
Australia |
7,838 |
9,831 |
45,356 |
52,532 |
|
Germany |
6,852,790 |
30,382 |
8,046,585 |
135,402 |
|
The Mainland of China |
11,510,999 |
1,818,819 |
75,617,896 |
11,460,516 |
|
Britain |
199,768 |
267,517 |
1,022,507 |
1,558,654 |
|
India |
2,852,585 |
1,307,492 |
11,322,938 |
5,776,432 |
|
Italy |
6,571,692 |
504,479 |
33,155,259 |
3,025,590 |
|
Exports |
||||
|
Germany |
9,267 |
8,692 |
30,663 |
28,537 |
|
Britain |
57,365 |
116,675 |
242,114 |
333,492 |
|
France |
42,564 |
15,232 |
208,722 |
57,577 |
|
Japan |
10,710 |
7,164 |
110,216 |
63,383 |
|
The Mainland of China |
214,571 |
16,260 |
1,260,063 |
86,978 |
|
India |
15,206 |
340 |
162,464 |
10,658 |
External Trade
Information:
External Merchandise Trade Aggregate Figures
Unit: HKD/ Million
|
|
Imports |
Domestic Exports |
Re-exports |
Total exports |
Year-on-year % change of Total exports |
Merchandise trade balance |
|
2012 |
3,912,163 |
58,830 |
3,375,516 |
3,434,346 |
+2.9 |
-477,817 |
|
2013 |
4,060,717 |
54,364 |
3,505,322 |
3,559,686 |
+3.6 |
-501,031 |
|
2014 |
4,219,046 |
55,283 |
3,617,468 |
3,672,751 |
+3.2 |
-546,295 |
|
2014.05 |
348,323 |
5,299 |
300,673 |
305,973 |
+4.9 |
-42,350 |
|
2014.06 |
352,316 |
4,802 |
304,409 |
309,211 |
+11.4 |
-43,105 |
|
2014.07 |
368,293 |
5,120 |
321,040 |
326,160 |
+6.8 |
-42,132 |
|
2014.08 |
358,750 |
5,289 |
321,937 |
327,225 |
+6.4 |
-31,525 |
|
2014.09 |
382,355 |
4,153 |
327,833 |
331,986 |
+4.5 |
-50,369 |
|
2014.10 |
381,569 |
4,392 |
327,335 |
331,727 |
+2.7 |
-49,842 |
|
2014.11 |
378,946 |
4,701 |
322,082 |
326,783 |
+0.4 |
-52,163 |
|
2014.12 |
372,007 |
4,050 |
308,705 |
312,755 |
+0.6 |
-59,253 |
|
2015.01 |
348,886 |
4,468 |
307,403 |
311,871 |
+2.8 |
-37,015 |
|
2015.02 |
264,220 |
2,919 |
225,418 |
228,337 |
+7.2 |
-35,884 |
|
2015.03 |
342,319 |
4,013 |
292,100 |
296,113 |
-1.8 |
-46,206 |
|
2015.04 |
331,108 |
4,202 |
287,742 |
291,944 |
+2.2 |
-39,164 |
|
2015.05 |
331,940 |
4,258 |
287,571 |
291,830 |
-4.6 |
-40,110 |
|
2015.06 |
345,302 |
4,158 |
295,361 |
299,518 |
-3.1 |
-45,783 |
*Total exports figures have been rounded to the nearest final digit after
summing up the constituent trade figures.
Attachment
Address: Rm. P, 9/F, Phase 3, Kaiser Estate, 9-11 Hok Yuen Street, Hung
Hom, Kowloon, Hong Kong
Kaiser Estate, 9-11 Hok Yuen Street, Hung Hom, Kowloon, Hong Kong
Rm. P, 9/F, Phase 3, Kaiser Estate, 9-11 Hok Yuen Street, Hung Hom,
Kowloon, Hong Kong
Rm. P, 9/F, Phase 3, Kaiser Estate, 9-11 Hok Yuen Street, Hung Hom,
Kowloon, Hong Kong
Rm. P, 9/F, Phase 3, Kaiser Estate, 9-11 Hok Yuen Street, Hung Hom,
Kowloon, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.35 |
|
|
1 |
Rs.100.28 |
|
Euro |
1 |
Rs.71.30 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ANK |
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.