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Report Date : |
16.04.2013 |
IDENTIFICATION DETAILS
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Name : |
NUUDELCHIN GROUP LLC |
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Formerly Known As : |
NUUDELCHIN
GRUPP XXK |
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Registered Office : |
Rokmon Building, Office 902 Undsen Khuuli Street 24 Bayangol District,
2nd Khoroo Ulaanbaatar |
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Country : |
Mongolia |
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Date of Incorporation : |
22.07.1998 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject
is a holding company for a group of 5 companies engaged in mining,
construction, general trading and
agriculture. |
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No. of Employees : |
350 (including
20 administrative staff) |
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 : |
Good |
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Payment Behaviour : |
Regular |
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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
|
Country Name |
Previous Rating (31.03.2011) |
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
Nuudelchin Group LLC (Correct)
NUUDELCHIN GROUP
NATIONAL ORIGINAL PRIDE (Requested)
Building : Rokmon
Building, Office 902
Street : Undsen Khuuli Street 24
Area : Bayangol District, 2nd Khoroo
Town : Ulaanbaatar
Country : Mongolia
Telephone: (976
11) 310 089 / (976 99) 111 944 / (976 99) 112 963 / (976 88) 051 021
Fax : (976 11) 310 089
E-Mail : narangerel@nuudelchin.mn /
nyamdorj@nuudelchin.mn
Website : www.nuudelchin.mn
Also known as :
Nuudelchin Grupp XXK
Name Position
1. Sh.
Lkhamsuren Chairman
2. Nyamdorj
Gankhuyag Chief Executive Officer
3. Narangerel
Bayarkhuu Human Resources Manager
4. Inkhbadral
Burunjargal International Relations Manager
Total Employees :
350 (including 20
administrative staff)
No complaints
have been heard regarding payments from local suppliers or banks.
We consider it is
acceptable to deal with subject for MEDIUM amounts,
although it is
normal accepted practice for international suppliers to deal on secured terms
with Mongolian importers.
Opinion on
maximum credit : TUGRIK 200,000,000
Trade risk
assessment: Normal
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 :
Khan Bank of
Mongolia
Peace Avenue
P.O Box-185
Ulaanbaatar
Telephone: (976
11) 457 880
Fax :
(976 11) 457 880
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 : 22
July 1998
Tax No.: 5371244
Capital : not
given
Limited Liability
Company with the following shareholders:
Shareholders Percentage
1. Undisclosed 5
equally shared private individuals 75%
2. Sh.
Lkhamsuren
25%
Affiliated
companies of the subject company :
Associates
1. Mondulaan
Trade LLC
Est.: 1998
2. Khishigten
Nuudelchin LLC
Est.: 2009
3. Arga Baril LLC
Est.: 2006
4. Mining
National Operator LLC
5. Ekho Khangal
LLC
The Company is
involved in the following activities :
Subject
is a holding company for a group of 5 companies engaged in mining,
construction, general trading and
agriculture.
NACE
Code : 6420
Group members
imports from China, Turkey, Russia and Japan.
Subject does not
export, all sales are domestic.
The Company has
the following facilities :
Administrative offices
located at the heading address.
Undsen Khuuli
Street 24
Bayangol
District, 2nd Khoroo
Ulaanbaatar
You enquired on:
NUUDELCHIN GROUP NATIONAL ORIGINAL PRIDE. Please note that the correct name is
as per heading.
Interviewed:
Narangerel Bayarkhuu (Human Resources Manager).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.62 |
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|
1 |
Rs.83.69 |
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Euro |
1 |
Rs.71.41 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
-- |
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.