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Report Date : |
08.04.2014 |
IDENTIFICATION DETAILS
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Correct Name : |
MSN LLC |
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Registered Office : |
SBD, 6th Khoroo, (Hunsniy 4-r Delguur, Pisi Molloos Hoyshoo 200 Metrt), Ulaanbaatar |
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Country : |
Mongolia |
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Year of Establishments: |
2001 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
· importers and retailers of construction materials. Subject also provides installation services. |
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No. of Employees |
60 |
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 |
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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 |
MSN LLC (Correct Name)
MSN CO LTD (Requested Name)
Area : SBD, 6th Khoroo,
(Hunsniy 4-r Delguur, Pisi Molloos Hoyshoo
200
Metrt)
Town : Ulaanbaatar
Country : Mongolia
Telephone: (976 70) 117 744 / Mobile (976 99) 729
929 / (976 89) 111 104
Fax : (976
70) 117 744
E-Mail : khoso68@yahoo.com
Also known as
: M Es En XXK / M Es En LLC
Name Position
1. Mark Idish Managing
Director
2. Mr. Dulguunbayar
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: Normal
It is normal
accepted practice for international suppliers to deal on secured terms with
Mongolian importers.
NAME : ULAANBAATAR
CITY BANK
Branch : Sukhbaatar Street 16, Chingeltei
District
Town : Ulaanbaatar
15160
Telephone: (976 11) 319 041
Fax : (976
11) 319 041
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 :
2001
Capital : not
given
Limited
Liability Company with the following sole shareholder:
Mark Idish 100%
The Company is involved in the following
activities :
Trading as
importers and retailers of construction materials.
Subject also
provides installation services.
NACE Code :
4613
Imports from
South Korea.
Subject does
not export, all sales are domestic.
The Company has the following facilities :
Administrative
offices located at the heading address.
Subject formerly was located at :
4-4 Seoul
Street
Sukhbataar District
Ulaanbaatar
You enquired
on: MSN CO LTD. Please note that the correct name is as per heading.
The address which you provided: 4-4 SEOUL STREET,SUKHBAATAR DISTRICT,ULAANBAATAR, MONGOLIA applies to subject's former address. Please note that subject's current administrative office address is as per heading.
Interviewed: Mark
Idish (Managing Director).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.95 |
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UK Pound |
1 |
Rs.99.36 |
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Euro |
1 |
Rs.82.15 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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.