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Report Date : |
06.06.2012 |
IDENTIFICATION DETAILS
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Name : |
MONGOLIAN STAR MELCHERS CO LTD |
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Registered Office : |
Mongolian Star Melchers Co Ltd Building, Chinggis Avenue 62, Industrial Zone, Uildveriin Bus 17070, 3rd
Khoroo, Khan, Uul District, Ulaanbaatar |
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Country : |
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Date of Incorporation : |
29.10.1998 |
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Com. Reg. No.: |
2560526 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Importers, Distributors, Wholesalers and Retailers of Mercedes Benz automobiles, building and construction tools, mining and safety equipment as well as cosmetic products, consumer goods, alcoholic beverages, electrical generators and compressors. |
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No. of Employees : |
320 |
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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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 |
Mongolian Star Melchers Co Ltd
Building
: Mongolian Star Melchers Co
Ltd Building
Street :
Chinggis Avenue 62
Area :
Industrial Zone, Uildveriin Bus 17070, 3rd Khoroo, Khan-Uul
District
Town : Ulaanbaatar
Country : Mongolia
Telephone : (976 11) 318 139 / 342 166 / (976 70)
148 141 / (976 70) 143 548 / (976 70) 143 549 / (976 70)
148 138 / Mobile (976 99) 046 641 (Ms. Otgonbayar Eudsuren)
/ (976 99) 114 438 / (976 99) 094 482 / (976 99) 282 452
Fax :
(976 11) 342 175
E-Mail :
laurenz@msmco.net / david@msmco.net / khandsuren@msmco.net /
Website :
www.msm.mn
Shortform
Name : MSM
Also
known as : Mongolian
Star Melchers LLC / Mongolian Star Melchers XXK
Name Position
1.
Laurenz Melchers Chief Executive Officer
2.
David Reiner Chief Financial Officer
3.
Bolorma Suren (Mrs) Chief Operating Officer
4.
Ms. Otgonbayar Eudsuren Financial
& Audit Director
5.
Ms. Khandsuren Chatrabal Chief
Accountant
Total
Employees : 320
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.
Trade
risk assessment : Normal
CREDIT
TO FINANCE CONSTRUCTION OF MAJOR NEW FACILITY IN ULAANBAATAR.
23
October 2008.
The
EBRD is providing a $6 million credit to Mongolian Star Melchers
Ltd
to help boost the efficiency and competitive position of this
leading
distribution network company. The credit will help finance
the
construction of a major new facility on the outskirts of the
capital,
Ulaanbaatar, giving the private group the scope to maintain
and
then increase its market share in the near future.
Mongolian
Star Melchers was founded in 1998, mainly as a distribution
network
for automotive sales and services, but has quickly grown and
diversified
into a major business to include heavy duty truck sales
and
services, consumer goods and health care distribution, mining and
construction
equipment supply and services.
The
new 9,000 m2 mixed-use facility is located on the main road
connecting
the center of Ulaanbaatar with the international airport
and
will include office space, a vehicle showroom, a mining and industrial tool supply
center, a distribution warehouse complex and
workshop
service areas for passenger cars and heavy duty trucks.
NAME : GOLOMT BANK OF
MONGOLIA
Branch : Bodi Tower,
Sukhbaatar Square
Town : Ulaanbaatar
Telephone : (976 11) 311
530
Fax : (976 11) 312 307
The
company also has an account with the following banks :
1. Trade and Development Bank Mongolia Ltd
Juulnchny Gudamj 7
Ulaanbaatar 210646
Telephone: (976 11) 312 362 /
331 133
Fax : (976 11) 325 449
2. Khan Bank of Mongolia
Peace Avenue
Ulaanbaatar
Telephone: (976 11) 457 880
Fax : (976 11) 457 880
3.
Khas Bank
Sukhbaatar district
Ulaanbaatar 14200
Telephone: (976 11) 318 185
Fax
: (976 11) 328 701
Private
companies in Mongolia are not required to publish or
disclose
balance sheets. However, the subject interviewed offered
the
following information :
Sales Turnover : US DLRS 1,500,000 - 2000 - exact
: US DLRS 2,500,000 - 2001 - exact
: US DLRS 4,750,000 - 2002 -
exact
: US DLRS 5,500,000 - 2003 -
exact
: US DLRS 6,500,000 - 2003 -
approx
: US DLRS 7,000,000 - 2004 -
exact
: US DLRS 10,000,000 - 2005 - exact
: US DLRS 15,000,000 - 2006 - exact
: US DLRS 21,000,000 - 2007 - exact
: US DLRS 25,000,000 - 2008 - exact
: US DLRS 19,563,992 - 2009 - exact
: US DLRS 30,783,404 - 2010 - exact
: US DLRS 55,426,208 - 2011 - exact
Net Profit :
US DLRS 1,606,261 - 2009 - exact
: US DLRS
3,888,188 - 2010 - exact
: US DLRS
4,989,293 - 2011 – exact
Financial
year ends 31 December.
Date
Started : 29 October 1998
C.R.
No. : 2560526
Authorized
Capital : US DLRS 185,000
Paid
up Capital : US DLRS 185,000
Limited
Liability Company with the following shareholders :
Shareholders Percentage
1.
Laurenz Melchers 50%
(German national)
2.
David Reiner
25%
(USA national)
3.
Bolorma Suren (Mrs) 25%
(Mongolian national)
Personal
Profile on Laurenz Melchers :
Laurenz
Melchers is a cofounder of Mongolian Star Melchers Company
(MSM).
He and his family resides in Mongolia since 1997. He holds a
B.Sc.
from the University of Massachusetts.
The
Company is involved in the following activities :
Trading as importers, distributors, wholesalers and retailers of Mercedes Benz automobiles, building and construction tools, mining and safety equipment as well as cosmetic products, consumer goods, alcoholic beverages, electrical generators and compressors.
Subject
operates through the following four divisions :
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Mining & construction supply
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Automotive retail and service
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Consumer goods distribution
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Health care & hospital supplies
Subject
also provides after-sale services.
NACE
Code : 4614 / 4663 / 3312 / 4645 / 4639
Imports
from Germany, Switzerland, Belgium, Australia, Russia, South
Korea,
Japan, China and USA.
Subject
does not export, all sales are domestic.
Sole
distributor in Mongolia for Daimler Chrysler, Mercedes-Benz,
Mitsubishi
Motors, Jeep, Dodge, Truck, Bosch Tools, Atlas Copco, SC Johnson, ESSO,
Hennessy, Kimberly Clark, Henkel and Johnson and Johnson products.
Awards :
- The
Mongolian Chamber of Trade and Industry consistently honors MSM
for its contribution to the economic
development of Mongolia and
has continued to award MSM the "Top 100
Company" title since 2001.
- In
2005 the company also received an award of "The best service
provider with excellent team work".
The
Company has the following facilities :
Owned
office premises, a showroom and storage facilities located at
the
heading address.
Until July 2010 subject was located at :
Government
Auto Depot No 1, MSM Building
Ikh
Toiroo Street, 6th-Khoroo, Chingeltei District
P.O.
Box : 154
Ulaanbaatar
211213
Telephone : (976 11) 318 138 / 318 139
Fax :
(976 11) 323 548
Mongolian
Star Melchers Co Ltd Building
Chinggis
Avenue 62
Industrial
Zone, Uildveriin Bus 17070, 3rd Khoroo, Khan-Uul District
Ulaanbaatar
The address which you provided: Chingel Tei District, Chingel Tei
District, Msm Company Building, Ulaanbaatar applies to subject's former address.
Please note that subject's current administrative office address is as per
heading.
The telephone and fax numbers which you provided: 976 11 318 138 / 976
11 323 548 has been changed. Please note that subject's current telephone and
fax numbers are as per heading.
Interviewed: Ms. Otgonbayar Eudsuren (Financial & Audit Director).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.56 |
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UK Pound |
1 |
Rs.85.52 |
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Euro |
1 |
Rs.69.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.