MIRA INFORM REPORT
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Report Date : |
15.12.2011 |
IDENTIFICATION DETAILS
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Name : |
SAINSHAND REFINERY LLC |
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Registered Office : |
Culture
Palace "V" Wing P/O-20A/30, Prime Minister Amar Street, Ulaantbatar |
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Country : |
Mongolia |
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Date of Incorporation : |
01.12.2011 |
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Com. Reg. No.: |
5530164 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Operation of an oil refinery |
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No. of Employees
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Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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---- |
NB |
New Business |
---- |
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Status : |
New Company |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Mongolia |
c1 |
c1 |
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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 |
Company NAME
Sainshand Refinery LLC
company ADDRESS
Building : Culture
Palace "V" Wing P/O-20A/30
Street : Prime Minister Amar Street
Town :
Ulaantbatar
Country : Mongolia
Telephone : (976 11) 318 476 (unattended)
SENIOR COMPANY PERSONNEL
Name Position
Evasaki Ugi Managing
Director
PAYMENTS
No
trade experience of payments is available.
Subject
is newly established company incorporated in December 2011
Information
in this report was obtained from the third party sources.
Opinion
on maximum credit : As the company has recently started trading and has no
financial or payment track record, we recommend dealing on secured terms.
Trade
risk assessment: High
It is normal accepted practice for international suppliers to deal
on secured terms with
Mongolian importers.
SIGNIFICANT CHANGES
MONGOLIA PLANS TO BUILD REFINERIES TO BOOST OIL SUPPLIES
19 August 2011,
(www.business-mongolia.com) : Mongolia, which is forced to import virtually all
of its refined oil products and frequently faces chronic fuel shortages, is to
begin building an oil refinery early next year in an effort to meet domestic
demand and reduce dependence on neighboring Russia for energy supplies.
Two months ago Mongolian
President Tsakhia Elbegdorj proposed to build an oil refinery, emphasizing its
importance for Mongolia, infomongolia.com reported.
Construction on the refinery began on 11
August in the southeastern city of Saishand in Dornogobi province in
cooperation with Mon L Gas LLC. The Saishand refinery will process 5,000 tons
of crude oil per year.
The Mongolian government
granted SODMONGOL a license to construct the facility in 2008. Mongolia’s
domestic oil consumption is currently less than one million tons per year.
At present Mongolia
receives its fuel supplies from Russia, but since April imports have been curtailed
because of Russia's soaring domestic demand. Accordingly, the Mongolian
government eventually intends to construct a total of three refineries.
The second will be located
in Darkhan-Uul. Built with the cooperation of Mongol Seku LLC, the Darkhan-Uul
refinery will have an annual processing capacity of 200,000 tons per year. The
third, to be built in Zuunbayan in Dornogobi province, is slated to have an
annual production capacity of 300,000 tons.
PRINCIPAL
BANKERS
Details of subject’s bankers could not be learnt.
FINANCIAL
INFORMATION
As the
Company has only recently been established, relevant financial information is not available.
LEGAL STATUS AND
HISTORY
Date Started : 1 December 2011
C.R. No. : 5530164
Capital : not
given
Limited Liability
Company with the following shareholders :
Details
of subject's shareholder could not be obtained.
ACTIVITIES
The Company is involved in the following activities :
Operation of an oil refinery.
FACILITIES
The Company has the following facilities :
Registered offices located at the heading address.
SPECIAL
NOTE
Interviewed: Third party sources.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.58 |
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UK Pound |
1 |
Rs.82.97 |
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Euro |
1 |
Rs.69.89 |
RATING EXPLANATIONS
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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.