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Report Date : |
02.04.2014 |
IDENTIFICATION DETAILS
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Name : |
STANDART GRUPP LLC |
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Registered Office : |
Ikh-Mongol Uls Street, Tenger-Villa 118, Khan-Uul District, 11th Khoroo, Ulaanbaatar |
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Country : |
Mongolia |
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Year of Establishments: |
1998 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Building contractors engaged in
construction of residential buildings |
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No. of Employees |
300 |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Mongolia |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
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-gold deposits. Mongolia's ongoing dispute
with a foreign investor over Oyu Tolgoi, however, has called into question the
attractiveness of Mongolia as a destination for foreign direct investment.
Negotiations to develop the massive Tavan Tolgoi coal field also have stalled.
The economy has grown more than 10% per year since 2010, 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 and monetary policies, which are contributing to
high inflation, and from 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 and is Mongolia's largest
supplier. Mongolia has relied on Russia for energy supplies, leaving it
vulnerable to price increases; in the first 11 months of 2013, Mongolia
purchased 76% of its gasoline and diesel fuel and a substantial amount of
electric power from Russia. A drop in foreign direct investment and a decrease
in Chinese demand for Mongolia's mineral exports are putting pressure on
Mongolia's balance of payments. Remittances from Mongolians working abroad,
particularly in South Korea, are significant.
|
Source : CIA |
Standart
Grupp LLC (Correct)
Standard
Group (Requested)
Street : Ikh-Mongol
Uls Street, Tenger-Villa 118
Area : Khan-Uul
District, 11th
Khoroo
Town : Ulaanbaatar
Country : Mongolia
Mobile : (976
99) 992 332 (Ms. Baska) / (976 99) 080 406 (Mr. Ganbat) / (976 99) 262 644 /
(976 99) 900
220
E-Mail : tug_uyan2@yahoo.com
English
Translation : Standard Group LLC
Also
known as : Standart Grupp XXK
Name Position
1.
Mr. Ganbat Managing Director
2.
Ms. Baska Accountant
Total
Employees : 300
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: Normal
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 : 1998
Capital
: not given
Limited Liability Company
with the following shareholders:
1.
Mr. Bataa
2.
Mr. Munkhbold
3.
Mr. Ganbat
The exact shareholding percentage was not disclosed.
The Company is involved in
the following activities :
Building contractors engaged in construction of
residential buildings.
NACE Code : 4120
Imports
from Italy, China and South Korea.
Subject
does not export, all sales are domestic.
The
Company has the following facilities :
Administrative
offices located at the heading address.
You
enquired on: Standard Group. Please note that the correct name is as per
heading.
Interviewed:
Mr. Ganbat (Managing Director).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.09 |
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UK Pound |
1 |
Rs.99.85 |
|
Euro |
1 |
Rs.82.58 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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.