MIRA INFORM REPORT
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Report Date : |
12.04.2012 |
IDENTIFICATION DETAILS
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Name : |
PRESTIGE SUPPLIES INC. LLC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
17.01.2011 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading
as importers, wholesalers, retailers and distributors of tobacco, alcohol, perfume, confectionary, watch, sun glass and
cosmetic products |
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No. of Employees
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12-35
(depending on the projects in hand) |
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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Maximum Credit Limit : |
TUGRIK
1,000,000,000 |
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Status : |
Satisfactory |
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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 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
Prestige
Supplies Inc. LLC
Building
: Rokmon Building, 4th
Floor, Office 407
Area : Bayangol
District, 2nd Khoroo
Town : Ulaanbaatar
Country : Mongolia
Telephone:
(976 70) 101 280 / Mobile (976 99) 105
259 / (976 99) 043 871 (Namit Kr. Choudhary) / (976 99)
000 701
Fax : (976
70) 101 280
E-Mail :
namit@prestigesupplies.com
/ info@prestigesupplies.com
/ lukas@orientalme.com
/ lukas_ogt@etisalat.blackberry.com
Website : www.prestigesupplies.com
Also
known as : Prestige Supplies
Name Position
1.
Lukas Richard Coates Managing Director
2.
Michael Raj Operational Director
3.
Namit Kumar Choudhary Finance
& Accounts Manager
Total
Employees : 12-35
(depending on the projects in hand)
No
complaints have been heard regarding payments from local suppliers or banks.
We
consider it is acceptable to deal with subject for LARGE amounts,
although
it is normal accepted practice for international suppliers to deal on secured
terms with Mongolian importers.
Opinion
on maximum credit : TUGRIK 1,000,000,000
Trade
risk assessment: Normal
SIGNIFICANT CHANGES
PRESTIGE
SUPPLIES TO OPEN NEW BORDER SHOP IN MONGOLIA
On
26 January 2009, (www.dfnionline.com): The Company is in negotiations to open
its first duty-free store at the border between Mongolia and Russia.
Travel
retailer Prestige Supplies is in the final phase of negotiations to open a new
duty-free store at the Sukhbaatar railway station at the border between
Mongolia and Russia. The new outlet will be the company’s sixth duty-free store
in Mongolia, where it has been operating since November 2007.
Prestige
Supplies now runs five duty-free stores in the country: a 64sq m (688sq ft)
store at Zamiin Uud, on the border between Mongolia and China; a 50sq m (538sq
ft) L’Écrin Duty Free departures shop (pictured) at Ulaanbaatar Chinggis Khaan
International airport; two Mongol News Duty Free outlets, a 50sq m departures
store and a 30sq m (322sq ft) arrivals shop; and a 25sq m (269sq ft) downtown
diplomatic store next to the Attila Hotel in the Mongolian capital.
A
Prestige Supplies spokesperson told DFNI online: “Our International Duty Free
border store at Zamiin Uud sells tobacco products, liquor and confectionery. We
work with all the leading companies in liquor and tobacco such as British
American Tobacco, Shanghai Tobacco Group, Diageo, Villiger, Belvedere Duty Free
and Campari. Cigarettes are our best-selling product, followed by liquor. Our
airport shops sell all product categories including fashion, fragrances and
watches. We have begun our operation in Mongolia and as the year continues we
are looking for further expansion across the globe.”
TOBACCO SALES UP AT PRESTIGE
SUPPLIES
On
16 July 2009, (www.dfnionline.com): The retailer has reported a 5% increase in
cigarette sales so far this year compared with the same period in 2008.
Mongolian
travel retailer Prestige Supplies has revealed cigarette sales are up by 5% so
far this year compared with the same period in 2008. The retailer runs five
duty-free stores in the country—one on the border with China, three at
Ulaanbaatar Chinggis Khaan International airport and a downtown shop in the
capital—and is in advanced negotiations to open a new duty-free shop at the
Sükhbaatar railway station on the border between Mongolia and Russia.
Cigarettes are its best-selling product.
A
Prestige Supplies spokesperson told DFNI: “The category is performing well,
with sales at present slightly higher than this time last year despite the
global economic crisis.”
Prestige
stocks a variety of cigarette brands in its shops including Chinese brands such
as Lesser Panda, Furongwang, Yun Yan, Chunghwa and Double Happiness, and the
Kent brand from British American Tobacco. “They are all available and meet
demand from our customers,” said the spokesperson.
NAME : KHAN
BANK OF MONGOLIA
Branch : Peace
Avenue
P.O.
Box : P.O Box-185
Town : Ulaanbaatar
Telephone:
(976 11)
457 880
Fax : (976
11) 457 880
The
company also has an account with :
The
company also has an account with the following banks:
1. Golomt Bank of Mongolia
Bodi Tower, Sukhbaatar
Square
Ulaanbaatar
Telephone: (976 11) 311
530
Fax : (976 11) 312 307
2. Trade and Development Bank of Mongolia
Juulnchny Gudamj 7
Ulaanbaatar 210646
Telephone: (976 11) 312
362 / 331 133
Fax : (976 11) 325 449
Private
companies in Mongolia are not required to publish or disclose balance sheets.
However, the subject interviewed offered the following information :
Sales
Turnover : TUGRIK 35,000,000 - 2010 - exact
: TUGRIK
46,000,000 - 2011 - exact
: TUGRIK 12,000,000 - 2012 – exact *
Net
Profit : but stated to be 20% of
the sales turnover
*
3 months results (January – March).
Working Capital : US DLRS 100,000
The following financial information applies to parent company
Prestige Supplies Inc.:
Sales
Turnover : Dh 51,254,275 - 2011 -
exact
Net
Profit : Dh 4,328,663 - 2011 – exact
Total
Capital Investment : US DLRS 50,000
Total
Value of Stock Held : Dh 553,969
Financial
year ends 31 December.
The
following financial information applies to subject’s affiliated company, Oriental General Trading Inc:
Sales
Turnover : Dh 270,000,000 - 2005 -
exact
: Dh 300,000,000 - 2006 -
exact
: Dh 350,000,000 - 2007 -
projected
Net
Profit : not given, but stated
to be profitable
Financial
year ends 31 December.
Date
Started : 17 January 2011
History
: The subject company was established in Mongolia on 17 January 2011, however
its origins can be traced back to 2007.
Tax
No.: 5469945 (issued date 21 April 2011)
Authorised
Capital : US DLRS 100
Paid-Up
Capital : US DLRS 100
Limited Liability Company with the following sole shareholder:
Prestige Supplies Inc. (frmly Afrolinks Trading Ltd) 100%
WD 04
Jebel Ali Free Zone RA 08
P.O.
Box 17697
Dubai
UAE
Telephone:
(971 4) 883 8224
Fax : (971 4) 223 8225
Email : info@prestigesupplies.com
Managing
Director : Anthony D’souza
Total
Employees: 40
Principal
Banker: Standard Chartered Bank
Est.:
1 August 2008 (Origins can be traced back to 11 April 2000)
Trade License No.: 2555
Shareholders:
- Ying Yim Cheng - 30%
- Matthias Attila Paul Klute – 25%
- Anthony D’souza - 25%
- Ho Man Herman Wai - 20%
(Trading
as wholesalers and distributors of tobacco products)
Affiliated company of the subject
company :
Associated
1.
Prestige Supplies Co. Ltd
Moc Bal-Combodia Duty Free
Supermarket
Cambodia
2.
Oriental General Trading Inc
Jebel Ali Free Zone, Roundabout 12 (R/A 12)
P.O. Box : 17432
Dubai
United Arab Emirates
Telephone: (971 4) 883 7334 / Mobile (50)
844 8017
Fax
: (971 4) 883 7335
E-Mail
: avinash@orientalme.com / robin@orientalme.com
Financial Manager: Robin Gomes (Indian
national)
Est.: 21 October
1998
DCCI Membership No : 51708
Capital : Dh 37,000 (as
of 2007)
Shareholders:
-
Anthony D'Souza
-
Attil Kalout (German national)
3. Oriental Impex Inc.
Jebel Ali Free Zone
PO Box: 17432
Telephone: (971 4) 883 7334
Fax
: (971 4) 883 7335
E-Mail: mail@orientalme.com
4.
Fisher & Tobacco Corp.
5.
Prestige Supplies Inc.
British Virgin Islands
The
Company is involved in the following activities :
Trading
as importers, wholesalers, retailers and distributors of tobacco, alcohol, perfume, confectionary, watch, sun glass and
cosmetic products.
Subject
also operates Duty-Free stores.
NACE
Code : 4635 / 4726 / 4617 / 4775 / 4777
Imports
from Europe, the Netherlands, Italy, France, Russia, Singapore, UAE and
Hong-Kong.
Subject
does not export, all sales are domestic.
Subject
has the following brands : West, Winston, Camel, Kent, Marlboro, Parliament,
JackDaniels, Chivas Regal, Grey Goose, Absolt Vodka, Jim Beam, Martini,
Bacardi, Ferrero Rocher, Toblerone, Snickers, Nestle, M&M’s, Nina Ricci,
Hugo Boss, Kenzo, Versace, Dior, L’Oreal, DKNY, Aramis, Hermes, Burberry,
Moschino, Rochas, Revlon, and
Bvlgari.
The
Company has the following facilities :
Rented
premises comprising administrative offices located at the heading address as
well as 2 rented storage facilities located at Chingis-Khan Avenue, 2nd Khoroo, Khal-Uul District, Ulaanbaatar
(share premises with BLC LLC) and Songino Khairkhan District, Ulaanbaatar (share
premises with UB Impeks LLC).
Subject
has Duty Free shops in the following addresses :
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Two Retail outlets L’Ecrin Duty-Free (sq. m. 50) and News Duty-Free
located at Chinggis Khaan International
Airport (frmly Buyant-
Ukhaa), Khan-Uul District, Ulaanbaatar 17120.
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Retail outlets located at Zamiin Uud (sq. m. 64) on the border
between Mongolia and China,
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Retail outlet Ulaanbaatar Hotel, Sukhbaatar Square 14, Ulaanbaatar
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Retail outlet Diplomatic Building, Chingiltei District, Ulaanbaatar
Rokmon
Building, 4th Floor, Office 407
Bayangol
District, 2nd Khoroo
Ulaanbaatar
Interviewed:
Namit Kumar Choudhary (Finance & Accounts Manager).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.51.55 |
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UK Pound |
1 |
Rs.81.95 |
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Euro |
1 |
Rs.67.57 |
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.