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Report Date : |
01.11.2012 |
IDENTIFICATION DETAILS
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Name : |
DELTA HOLDING LLC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
06.10.1998 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is a holding and management Company for a group of
companies |
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No. of Employees : |
60 employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
Mongolia - ECONOMIC OVERVIEW
Economic activity in Mongolia was traditionally based on herding and
agriculture - Mongolia's extensive mineral deposits, however, have attracted foreign
investors, and the country is undergoing an economic transformation through its
mining boom. Mongolia holds copper, gold, coal, molybdenum, fluorspar, uranium,
tin, and tungsten deposits, among others, which account for a large part of
foreign direct investment and government revenues. Soviet assistance, at its
height one-third of GDP, disappeared almost overnight in 1990 and 1991 at the
time of the dismantlement of the USSR. The following decade saw Mongolia endure
both deep recession, because of political inaction and natural disasters, as
well as economic growth, because of reform-embracing, free-market economics and
extensive privatization of the formerly state-run economy. The country opened a
fledgling stock exchange in 1991. Mongolia joined the World Trade Organization
in 1997 and seeks to expand its participation in regional economic and trade
regimes. Growth averaged nearly 9% per year in 2004-08 largely because of high
copper prices and new gold production. By late 2008, the country was faced with
external shocks from the global financial crisis, and a sharp drop in commodity
prices slashed government revenues. GDP dropped 1.3% in 2009. In early 2009,
the International Monetary Fund reached a $236 million Stand-by Arrangement
with Mongolia and the country has largely emerged from the crisis. The banking
sector is recovering and the government has started to enact greater
supervision regulations. In October 2009, Mongolia passed long-awaited
legislation on an investment agreement to develop the Oyu Tolgoi mine,
considered to be among the world's largest untapped copper deposits. Another
similarly lengthy process is underway for an investment agreement for the
massive coal mine at Tavan Tolgoi; it is under review by the National Security
Council and a final decision is expected in 2012. The economy grew 6.4% in 2010
and 17.3% in 2011, largely on the strength of commodity exports to nearby
countries. Trade with China represents more than half of Mongolia's total
external trade - China receives more than 90% of Mongolia's exports. Mongolia
purchases 95% of its petroleum products and a substantial amount of electric
power from Russia, leaving it vulnerable to price increases. In the face of
anticipated growth in mining revenues, the country is grappling with the
challenge of avoiding an overheated economy. Due to severe winter weather in
2009-10, Mongolia lost 22% of its total livestock, and meat prices doubled.
Renewed concerns are surfacing over controlling inflation, which was more than
10% for much of 2010-11, due in part to soaring food prices. Government
spending - on line to increase as much as 75% over 2011 - has added to concerns
over inflation. Remittances from Mongolians working abroad, particularly in
South Korea, are significant. Money-laundering is a growing concern.
|
Source : CIA |
Delta Holding LLC (Correct)
DELTA HOLDING (Requested)
Building : Delta
Auto Service Co., Ltd
Street : Chinggis Avenue
Area : Khan-Uul District, 3rd
Khoroo, 19th Khoroolol
Town : Ulaanbaatar
Country : Mongolia
Telephone: (976 11) 343 333 / 345 416 / 345 152 /
Mobile (976 99) 115 396 (Uundai Munkhjargal) / (976 99) 003 504 / (976 99) 189
204 / (976 95) 251 010 / (976 99) 003 201 (Ms. Orunsaha)
Fax : (976 11) 341 413
E-Mail : munk@delt.mn / accountant@delta.mn
Also known as : Delta
Holding XXK
Name Position
1. Uundai Munkhjargal Managing Director
2. Ms. Orunsaha Chief Accountant
3. A. Odgerel Foreign Trade Manager
Total Employees : 60
No complaints have been heard regarding payments from
local suppliers or banks.
We consider it is acceptable to deal with subject for
SMALL amounts, however in view of the lack of financial information we
recommend international suppliers exercise a degree of caution.
Trade risk assessment: Above Average
NAME :
TRADE AND DEVELOPMENT BANK OF MONGOLIA
Branch : Juulnchny Gudamj 7
Town : 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. Balance sheets are not available from other
sources, and the subject interviewed declined to give any financial
information, which the company regards as strictly confidential.
Date Started : 6 October 1998
Tax No.: 5370221
Capital : not given
Limited Liability Company with the following sole
shareholder:
Uundai Munkhjargal 100%
Affiliated
companies of Delta Holding LLC :
Subsidiaries
1. Delta Foods Co., Ltd
Teeverchidiin Street 6
Bayangol
District, 2nd Khoroo
Ulaanbaatar
Telephone:
976 21 242 135
Fax : 976 21 242 135
2. Delta Auto Service Co., Ltd
(Delta
Avtoservis XXK)
Chinggis
Avenue
Khan-Uul
District, 3rd Khoroo, 19th Khoroolol
Ulaanbaatar
Telephone:
(976 11) 343 333 / (976 21) 242 135 / (976 93) 225 444
Fax : (976 11) 341 413 / (976 21) 242 525
Tax No.:
2666936
3. Delta Complex Trading Co., Ltd
Chinggis
Avenue
Khan-Uul District,
3rd Khoroo, 19th Khoroolol
Ulaanbaatar
Telephone:
(976 11) 343 333
Fax : (976 11) 341 413
Email : trade@delta.mn
4. Delta Mongol Trans Co., Ltd
Ulaanbaatar
The Company is
involved in the following activities :
Holding and Management Company for a group of
companies.
Subject's subsidiaries covering diversified business
activities including:
- Auto trade and aftersales services
- Foodstuff
- Transport
- Hotel
NACE Code : 6420
Subject's subsidiaries imports from Germany, Russia,
Japan, Argentina, Poland, Turkey and China.
Subject's subsidiaries exports to China, Australia,
Germany, Russia and Japan.
The Company has the following facilities :
Administrative offices located at the heading address.
Chinggis Avenue 13
Khan-Uul District
P.O.Box No.: 28/343
Ulaanbaatar 210628
You enquired on: DELTA HOLDING. Please note that the
correct name is as per heading.
The e-mail address given by you : trading02@delta.mn is could not be identified. Please note that subject's correct e-mail address is as per heading.
The address which you provided: P O Box 28/343 Chinggis Avenue 13, Khan-Uul D MNG-210628 Ulaanbaatar applies to subject's registered office address. Please note that subject's operational office address is as per heading.
Interviewed: Uundai Munkhjargal (Managing Director).
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.12 |
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UK Pound |
1 |
Rs.87.08 |
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Euro |
1 |
Rs.70.15 |
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.