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Report Date : |
11.12.2013 |
IDENTIFICATION DETAILS
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Name : |
ASIA-PHARMA CO. LTD |
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Registered Office : |
2nd Khoroo /
Enkhtaivany Gud 8, Bayangol District, Ulaanbaatar 210280 |
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Country : |
Mongolia |
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Date of Incorporation : |
15.01.2002 |
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Com. Reg. No.: |
2697289 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
importers,
wholesalers and retailers of pharmaceuticals. |
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No. of Employees : |
70 |
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 : |
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
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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 sales. 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
sales, putting pressure on Mongolian fiscal policy. Remittances from Mongolians
working abroad, particularly in South Korea, are significant.
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Source : CIA |
Asia-Pharma Co. Ltd (Correct)
ASIA PHARMA LLC (Requested)
Building : Grand Plaza Building 11
floor, Office 1105
Street : 2nd
Khoroo / Enkhtaivany Gud 8
Area : Bayangol
District
Town : Ulaanbaatar
210280
Country : Mongolia
Telephone: (976 70) 117 112 / 111 887 / (976 11) 330 570 /
Mobile (976 88) 118 779 / (976 99) 001 121 (Mrs. Tungalag Tsetsen) / (976 88)
282 262 / (976 95) 549 979
Fax : (976
70) 127 122
E-Mail :
togoo@asiapharma.mn / tungalag@asiapharma.mn / info@asiapharma.mn /
Website : www.asiapharma.mn (Under construction)
Trading Style : Asia Pharma
Also Known As : Asiapharma LLC / Azi-Farma XXK /
Aziyafarma XXK / Asia Pharma LLC
Name Position
1. Mrs. Tungalag
Tsetsen Managing Director
2. Ms. Munkhdalai
Togoo Import Manager
Total Employees :
70
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.
Trade risk
assessment: Normal
NAME :
GOLOMT BANK OF MONGOLIA
Branch :
Main Branch
Street :
Sukhbaatar Square 3
Town :
Ulaanbaatar
Telephone : (976 11) 311 530 / 311 971
Fax :
(976 11) 311 958 / 312 307
Private companies
in Mongolia are not required to publish or disclose balance sheets. However,
the subject interviewed offered the following information (latest available):
Sales
Turnover : US DLRS 2,000,000
- 2008 - exact
: US DLRS
4,500,000 - 2009 - exact
: US DLRS
7,500,000 - 2010 - exact
: US DLRS
8,000,000 - 2011 - projected
Net Profit :
not given but stated to be profitable
Financial year
ends 31 December.
Date Started : 15 January 2002
History : The
subject company was established in Mongolia on 15 January 2002.
C.R. No. : 2697289
Authorised
Capital : US DLRS
2,000,000
Paid-Up Capital : US DLRS
2,000,000
Limited Liability Company with the following
shareholders :
Shareholders
Percentage
1. Mrs. Tungalag
Tsetsen 50%
2. Bayarjargal
Gungaa 50%
The Company is involved in the following activities :
Trading as importers,
wholesalers and retailers of pharmaceuticals.
NACE Code : 4646
Imports from
Russia, South Korea, Germany, China, Poland, USA, Malaysia, India, Slovenia and
Switzerland.
Subject does not
export, all sales are domestic.
Distributors for Akrikhin (Russia), Actavis (Bulgaria), Altaivitamin (Russia), Astellas (Japan), Asia-Trade (South Korea), Bayer Schering Pharma (Germany), Bayer Consumer Care (Germany), Beijing Zi Zhu (China), Berlin-Chemie (Germany), Belmedpreparaty (Belarus), Buryat-Farm (Russia), Veropharm (Russia), Gedeon Richter (Hungary), Glaxo Smith Kline (UK), Dalhimfarm (Russia), Denk Pharma (Germany), Jiangsu Jichun Medical Devices (China), Irbitsky Chemical Pharmaceutical Industry (Russia), KRKA (Slovenia), Kraspharma (Russia), Care (South Korea), Lek (Slovenia), Novartis (Switzerland), Medi-Green (South Korea), Medial D&P/ Mepha (Switzerland), Moshimpreparaty (Russia), Nycomed (Austria), Panaceabiotec (India), Parthner (Russia), Polfa Adalan (Poland), Polpharma (Poland), Polisan (Russia), Pugang Pharmaceutic (North Korea), Sanofi-Aventis (France), Sintez (Russia), Stekloprobor (Russia), Tianjin (China), Hwajin Medical (South Korea), Herbion (Pakistan), Stada (Russia), Shin Poong (South Korea), Eli Lilly (USA), Emoun (Egypt), Umedica (India) and Unipharm (USA).
The Company has the following facilities :
Rented office
premises located at the heading address as well as 5 wholesale outlets and 8
pharmacies located elsewhere in Ulaanbaatar (see 'Branch Offices' below).
Until 2011
subject’s administrative office address was located at:
22-23 Building
50 Myangat 4th
Khoroo
Bayangol District
Ulaanbaatar
2nd Khoroo /
Enkhtaivany Gud 8
Bayangol District
Ulaanbaatar
210280
1. Building No. 19,
50 Myangat, Khoroo 4,
Chingeltei district
Ulaanbaatar
Telephone: (976 11) 321 009
2. Building 5B,
Micro district 6,
Bayangol district
Ulaanbaatar
Telephone: (976 70) 107 181
3. Khoroo 4,
Sukhbaatar district, Myangat 50
Ulaanbaatar
Telephone: (976 11) 326 587 / 330 570
4. Myangat 50,
Khoroo 2,
Chingeltei district
Ulaanbaatar
Telephone: (976 70) 125 440 / 125 441
5. Misheel center
Ulaanbaatar
Telephone: (976 11) 342 088
6. Khoroo 4, Sukhbaatar
district
Ulaanbaatar
Telephone: (976 11) 331 923
7. Sukhbataar District
Ulaanbaatar
Telephone: (976 11) 321 009
8. Bayangol
District, 10th Khoroolol, 5b
Ulaanbaatar
Telephone: (976 11) 689 723
9. Sukhbataar District, 8th Khoroo, 29
Ulaanbaatar
Telephone: (976 70) 137 112
10.Azi Farma 5
1st Khoroo, Tokiogiyn Gudamzh,
26a bayrny 1st Davhar, 3rd Block
Bayanzurkh District
Ulaanbaatar
Telephone: (976 11) 462 668
11.Azi Farma 6
8th Khoroo, Sonor Plaza
Sukhbataar District
Ulaanbaatar
Telephone: (976 70) 127 112
12.Azi Farma 7
13th Khoroo
Bayangol District
Ulaanbaatar
Telephone: (976 70) 127 113
13.Azi Farma 8
16th Khoroo, 16th Khoroolol
Bayanzurkh
District
Ulaanbaatar
Telephone: (976 70)155 440
You enquired on:
ASIA PHARMA LLC. 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.
Interviewed: Ms.
Munkhdalai Togoo (Import Manager).
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.21 |
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UK Pound |
1 |
Rs.100.65 |
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Euro |
1 |
Rs.84.15 |
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.