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Report Date : |
18.04.2014 |
IDENTIFICATION DETAILS
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Name : |
NEXUS CONNECTION LLC |
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Formerly Known As : |
NEKSUS KONNEKSHN XXK / NEKSUS KONNEKSHN CO LTD |
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Registered Office : |
G&D Office Center Peace Avenue
Sukhbaatar District, 8th Khoroo, 11th Khoroolol
Ulaanbaatar |
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Country : |
Mongolia |
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Date of Incorporation : |
2010 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as importers and wholesalers of cars, machinery, tyres and
meat products. |
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No. of Employees |
45 |
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 : |
Satisfactory |
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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 – March 31st, 2014
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Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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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-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.
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Source
: CIA |
NEKSUS KONNEKSHN LLC (CORRECT)
NEXUS CONNECTION LLC (REQUESTED)
Building : G&D
Office Center
Street : Peace Avenue
Area : Sukhbaatar District, 8th Khoroo,
11th Khoroolol
Town : Ulaanbaatar
Country : Mongolia
Mobile : (976 99) 118 511
(Batbayar Batulga) / (976 96) 607 770 / (976 91) 959 393
E-Mail : mongolianexus@gmail.com
English Translation : NEXUS CONNECTION LLC
Also known as : NEKSUS KONNEKSHN XXK / NEKSUS KONNEKSHN CO LTD
Name Position
Batbayar Batulga
Managing Director
Total Employees : 45
No complaints have been heard regarding payments from local suppliers or
banks.
We consider it is acceptable to deal with subject for SMALL amounts,
although it is normal accepted practice for international suppliers to
deal on secured terms with Mongolian importers.
Trade risk assessment: Normal
NAME : STATE BANK OF MONGOLIA
Branch : Baga Yoiruu 7/1, 1st Khoroo, Chingeltei District
Town : Ulaanbaatar 210644
Telephone : (976 11) 330
595
Fax : (976 11) 330
595
The company also has an account with :
Golomt Bank of Mongolia
Main Branch
Bodi Tower, Sukhbaatar Square
Ulaanbaatar
Telephone : (976 11) 311
530
Fax : (976 11) 312 307
Private companies in Mongolia are not required to publish or disclose
balance sheets. However, the subject interviewed offered
the following information :
Sales Turnover : US DLRS 500,000 - 2013 - exact
Net Profit : not given
Financial year ends 31 December.
The following financial information applies to subject and Empire-Z LLC:
Sales Turnover : US DLRS 700,000 - 2013 - exact
Net Profit : not given
Financial year ends 31 December.
Date Started : 2010
Capital : not given
Limited Liability Company with the following sole shareholder:
Empire-Z LLC 100%
Ulaanbaatar
The Company is involved in the following activities :
Trading as importers and wholesalers of cars, machinery, tyres and meat
products.
NACE Code : 4632
Imports from Japan, South Korea and USA.
Exports meat products to China, Russia, Kuwait and Saudi Arabia.
The Company has the following facilities :
Administrative offices located at the heading address.
You enquired on: Nexus Connection LLC. Please note that this name
applies to an English translation of the subject’s name. Subject’s correct
registered name is as per heading.
Interviewed: Batbayar Batulga (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.60.38 |
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UK Pound |
1 |
Rs.101.63 |
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Euro |
1 |
Rs.83.57 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
SDA |
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.