MIRA INFORM REPORT

 

 

Report Date :           

09.03.2012

 

IDENTIFICATION DETAILS

 

Name :

MEKHLOPAT LLC  

 

 

Registered Office :

Grand Plaza Office Centre, Office 202, 2nd Khoroo , Bayangol District, Ulaanbaatar 21

 

 

Country :

Mongolia

 

 

Date of Incorporation :

31.08.2003

 

 

Legal Form :

Limited Liability Company with the following sole shareholder:

 

 

Line of Business :

importers, wholesalers, retailers and distributors of equipment and spare parts for mining machineries

 

 

No. of Employees :

30

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

TUGRIK 80,000,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Mongolia

c1

c1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

COmpany NAME

 

Mekhlopat LLC 

 

 

Company ADDRESS

 

Building             : Grand Plaza Office Centre, Office 807, 2nd Khoroo

Area                             : Bayangol District

Town                 : Ulaanbaatar 21

Country              : Mongolia

Telephone         : (976 70) 124 648 / Mobile (976 99) 098 427 / 069 648

Fax                   : (976 70) 124 648 / 114 648

E-Mail               : info@mekhlopat.mn  / munktuul@mekhlopat.mn

Website            : www.mekhlopat.mn

 

Also known as : Mekhlopat HHK

 

 

SENIOR COMPANY PERSONNEL

 

   Name                                    Position

 

1. Baatarsuren J.                       Chief Executive Officer

 

2. Ganbat Dulam                        Executive Director

 

3. Munktuul Amartaivan              Foreign Trade Manager     

 

Total Employees :                      30

 

 

PAYMENTS

 

No complaints have been heard regarding payments from local suppliers or banks.

 

Subject is member of Namir Invest Group.

 

We consider it is acceptable to deal with subject for SMALL amounts,

although it is normal accepted practice for international suppliers to deal on secured terms with Mongolian importers.

 

Opinion on maximum credit : TUGRIK 80,000,000

 

Trade risk assessment: Normal

 

 

PRINCIPAL BANKERS

 

NAME               : TRADE AND DEVELOPMENT BANK OF MONGOLIA

Branch               : Hudaldaany Gudamj 6

P.O. Box           : 11

Town                 : Ulaanbaatar

Telephone         : (976 11) 321 171

Fax                   : (976 11) 325 449

 

The company also has an account with :

 

Golomt Bank of Mongolia

Sukhbaatar Square 3

PO Box 22

Ulaanbaatar 210620A

Telephone: (976 11) 311 530

Fax      : (976 11) 326 535

 

 

FINANCIAL INFORMATION

 

Private companies in Mongolia are not required to publish or disclose balance sheets. However, the subject interviewed offered the following information :

 

Sales Turnover               : TUGRIK 3,500,000,000 - 2010 - exact

                                                : TUGRIK 4,500,000,000 - 2011 - exact

 

Net Profit                       : TUGRIK   500,000,000  - 2010 - exact

                                                : TUGRIK   700,000,000  - 2011 - exact

 

Financial year ends 31 December.

 

 

LEGAL STATUS AND HISTORY

 

Date Started :                31 August 2003

 

Tax No.:                        2682354

 

Capital :                        not given

 


Limited Liability Company with the following sole shareholder:

 

                                                            Percentage

 

Baatarsuren J.                                       100%

 

Affiliated companies of the subject company :

 

Associates

 

1. Namir Invest LLC

   Grand Plaza Office Centre, Office 807-809, 2nd Khoroo

   Bayangol District

   Ulaanbaatar 21

   Telephone: (976 70) 125 524 / 125 524

   Fax      : (976 70) 123 555

   Email    : naming@yandex.ru  / enkhzul@namir.mn

   Website  : www.namir.mn

 

2. Amore international LLC

   Grand Plaza Office Centre, Office 1406, 2nd Khoroo

   Bayangol District

   Ulaanbaatar 21

   Telephone: (976 70) 127 535

   Fax      : (976 70) 137 535

 

3. Montermo LLC

   Ulaanbaatar

 

4. Reduktor LLC

   Ulaanbaatar

 

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Trading as importers, wholesalers, retailers and distributors of equipment and spare parts for mining machineries, excavators, dump trucks, GET tools, steel wire ropes, industrial and high voltage mining cables, hose reels, tire protection chains, underground mining cable tray systems, heavy duty vehicle washing systems, drilling tools, OTR tires, underground mining ventilation systems

 

Subject provides procurement services to meet specific needs and requirements of clients also provides sourcing, assembling, installation and complete range of sales after services.

 

NACE Code : 3312 / 3320 / 4663 / 4614 / 4662

 

Imports from Europe, USA, Canada, Ukraine, Romania and Russia.

 

Subject does not export, all sales are domestic.

 

Subject planning to import from India.

 

Subject distributor for Eurotire, Hensley Industries, MMK Metiz, AmerCable, Pewag Chains and InterClean Equipment Inc.

 

 

FACILITIES

 

The Company has the following facilities :

 

Rented premises comprising administrative offices located at the heading address as well as owned a retail outlet and  storage facilities located near Power Plant, Bayangol District, Ulaanbaatar.

 

Subject had storage facilities at :

 

Near TETS-4

20th Khoroo

Bayangol District

Ulaabaatar

 

 

REGISTERED OFFICE

 

Grand Plaza Office Centre, Office 202, 2nd Khoroo

Bayangol District

Ulaanbaatar 21

 

 

SPECIAL NOTE

 

Interviewed: Munktuul Amartaivan (Foreign Trade Manager).     

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.57

UK Pound

1

Rs.79.57

Euro

1

Rs.66.50

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.