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Report Date : |
03.12.2013 |
IDENTIFICATION DETAILS
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Name : |
GLOBAL BIZNES LINK LLC |
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Registered Office : |
Orgon Choloo
Street, Sukhbaatar District, Ulaanbaatar |
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Country : |
Mongolia |
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Date of Incorporation : |
14.10.2004 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
·
importers
and distributors of food,
pharmaceuticals for animal and veterinary products. Subject is also engage in
tourism and technology development projects.
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No. of Employees : |
05 (administrative staff) |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
TATUS |
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 : |
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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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
Mongolia's extensive mineral
deposits and attendant growth in mining-sector activities have transformed
Mongolia's economy, which traditionally has been dependent on herding and
agriculture. Mongolia's copper, gold, coal, molybdenum, fluorspar, uranium, tin,
and tungsten deposits, among others, have attracted foreign direct investment.
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 globally and new gold production.
By late 2008, Mongolia was hit hard by the global financial crisis. Slower
global economic growth hurt the country's exports, notably copper, and slashed
government revenues. As a result, Mongolia's real economy contracted 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 with better regulations and closer supervision. The banking sector
strengthened but weaknesses remain. 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.
Recent calls by nationalist politicians to renegotiate the investment
agreement, however, have called into question the attractiveness of Mongolia as
a destination for foreign direct investment. Negotiations to develop the
massive Tavan Tolgoi coal field face similar obstacles. The economy grew by
6.4% in 2010, 17.5% in 2011, and by more than 12.3% in 2012, largely on the
strength of commodity exports to nearby countries and high government spending
domestically. Mongolia's economy, however, faces near-term economic risks from
the government's loose fiscal policies, which are contributing to high
inflation, and uncertainties in foreign demand for Mongolian exports. 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. Due to severe winter weather in
2009-10, Mongolia lost 22% of its total livestock, and meat prices doubled.
Inflation remained higher than 10% for much of 2010-12, due in part to higher
food and fuel prices. The economic slowdown in China during 2011-2012 resulted
in fewer Mongolian exports, a widened trade gap, and decreased government
revenues, putting pressure on Mongolian fiscal policy. Remittances from
Mongolians working abroad, particularly in South Korea, are significant.
Source : CIA
Global Biznes Link LLC (Correct)
GLOBAL BUSINESS LINK CO LTD. (Requested)
Street :
Baga Toiruu Street 44A, SPB, Building 311
Town : Ulaanbaatar
Country : Mongolia
Telephone : (976 11) 360 313 / Mobile (976 98)
119 027 (Batsukh Dayat) / (976 91) 919 027
Fax : (976 11) 360 313
E-Mail :
gbl@email.com
English
Translation : Global Business Link LLC
Also known as :
Global Biznes Link XXK / Global Business Link Co Ltd.
Name Position
1. Batsukh
Dayat Managing Director
2. Hasanbatyr
Tuan Director
Total Employees :
5 (administrative staff)
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
It is normal
accepted practice for international suppliers to deal on secured terms with
Mongolian importers.
Subject declined
to name its bankers.
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 : 14 October 2004
Tax No.: 2855933
Authorised Capital
: TUGRIK 1,000,000
Paid-Up Capital :
TUGRIK 1,000,000
Limited Liability Company with the following sole
shareholder :
Hasanbatyr
Tuan 100%
The Company is
involved in the following activities :
Trading as
importers and distributors of food, pharmaceuticals for animal and veterinary
products.
Subject
also engages in tourism and technology development projects.
NACE
Code 4646
Imports from
India and China.
Subject does not
export, all sales are domestic.
The Company has
the following facilities :
Administrative
offices located at the heading address
Orgon Choloo
Street
Sukhbaatar
District
Ulaanbaatar
You enquired on: GLOBAL
BUSINESS LINK CO LTD.. Please note that this name applies to an also known as
of the subject’s name. Subject’s correct registered name is as per heading.
The telephone
number which you provided: 976 11 319 365 is could not be identified. Please
note that subject's correct telephone number is as per heading.
The bankers name
which you provided: State Bank of Mongolia is could not be identified.
Interviewed:
Batsukh Dayat (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.62.23 |
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UK Pound |
1 |
Rs.102.14 |
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Euro |
1 |
Rs.84.64 |
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.