Jasmine Tree

I have a Jasmine Tree and recently a big red bud has "popped up". It has been there for about three weeks and since it has shown a lot of leaves have fallen off. There are still other buds if the white flower but i need to know what this red bud is and what i should do with it.

Thanks.

 

Your tree may be Murraya paniculata, Orange Jessamine and the red object a seed pod.