Amended REPORT
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Report Date : |
30.04.2014 |
IDENTIFICATION DETAILS
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Name : |
AMUUN LLC |
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Registered Office : |
Bayangol
District, Khoroo 5, Micro-District 10, Suite 45-17, Ulaanbaatar |
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Country : |
Mongolia |
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Date of Incorporation : |
12.06.2009 |
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Com. Reg. No.: |
1204162284 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as importers, retailers and distributors of cosmetics. |
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No. of Employees |
10 |
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 – March 31, 2014
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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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 |
Amuun LLC (Correct)
Amuun Limited Liability Company (Requested)
Area : Bayangol
District, Khoroo 5, Micro-District 10, Suite 45-17
Town : Ulaanbaatar
Country : Mongolia
Telephone:
(976 11) 311 844 / Mobile (976 91) 911
571 (Ms. Zola)
Fax : (976
11) 311 844
E-mail : abilegjav@yahoo.com
Also
known as : Amuun Limited Liability Company
Name Position
1.
Ms. Zola Managing
Director
2.
Ariunaa Bilegrav Assistant to
Managing Director
Total
Employees : 10
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 : 12 June 2009
C.R.
No. : 1204162284
Tax
No.: 2011392
Authorised
Capital : TUGRIK 28,000,000
Paid-Up
Capital : TUGRIK 28,000,000
Limited Liability
Company with the following shareholders:
Details
of the company's shareholders could not be obtained and the subject was
uncooperative on the matter.
The Company is involved in
the following activities :
Trading
as importers, retailers and distributors of cosmetics.
NACE
Code : 4775
Imports
from South Korea.
Subject
does not export, all sales are domestic.
The Company has the
following facilities :
Administrative
offices and a retail outlet located at the heading address.
Bayangol
District, Khoroo 5, Micro-District 10, Suite 45-17
Ulaanbaatar
You enquired on: Amuun Limited Liability Company. 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: Ariunaa Bilegrav (Assistant to 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.60.52 |
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UK Pound |
1 |
Rs.101.77 |
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Euro |
1 |
Rs.83.92 |
INFORMATION DETAILS
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Analysis Done by
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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.