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Report Date : |
19.08.2014 |
IDENTIFICATION DETAILS
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Name : |
BOSA IMPEX LLC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
28.08.2003 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Importers and Wholesalers of Foodstuff Including Confectionary Products, Edible Oil, Pickles and Olives. |
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No. of Employees : |
62 (Subject) 600 (Group) |
RATING & COMMENTS
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MIRAs 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 June 01, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Mongolia |
C1 |
B2 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 |
BOSA IMPEX LLC (CORRECT)
BOSA IMPEX CO LTD BOCA HMIIEKC JITI (REQUESTED)
Street : Amarsanaa Street, Orkhon-1
Area : Bayangol District
P.O. Box No. : 16040
Town : Ulaanbaatar
Country : Mongolia
Telephone : (976 11) 361 531 / 365 668 / 365 608 / Mobiles (976 99)
113 226 (Angarag Batjargal) / (976 99) 054 217
(Oyungerel Sundui) / (976 99) 059 780 (Anar)
Fax : (976 11) 301 487
E-Mail : bosa_co@mongolnet.mn / angarag@bosa-impex.mn / oyungerel@bosa-impex.mn
Website : www.bosa-impex.mn
Also Known As : Bosa Impex CO. LTD / Bosa Impex XXK
Name Position
1. Tsegmed Batbayar President
2. Tserendorch Odsuren Vice President
3. Angarag Batjargal (Ms) Chief Executive Officer
4. Gereltsetseg Natsagdorj Head of Sales &
Marketing Devision
5. Oyungerel Sundui Import Manager
6. Mr Anar Import & Export Officer
Total Employees : 62 (Subject)
600 (Group)
No complaints have been heard regarding payments from local suppliers or banks.
Subject is a member of a Bosa Holding LLC, which is one of the primary private enterprises in Mongolia and its core duty is to provide aggregated policy and management to its subsidiary companies that operate in different types of business sectors including foreign and domestic trade, alarm and security services, food product production, procurement of general merchandise, transportation, office lease service and mobile camp services, construction and construction materials trade. BOSA Holding LLC has 7 subsidiary companies and 1 NGO and total of 600 employees.
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 : TRADE AND DEVELOPMENT BANK OF MONGOLIA
Branch : Chingeltei District
Street : Baga Toiruu 12
Town : Ulaanbaatar
Telephone : (976 11) 324 690
Fax : (976 11) 324 690
The company also has an account with the following banks :
1. Khan Bank
Seoul Street 25
Sukhbaatar District
Ulaanbaatar
Telephone : (976 11) 332 333
Fax : (976 70) 117 023
2. Khas Bank
Da Huree automarket
Ulaanbaatar
Telephone : (976 11) 459 023
Fax : (976 11) 459 023
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 4,200,000 - 2006 - exact
: US DLRS 7,000,000 - 2007 - exact *
: US DLRS 7,800,000 - 2008 - exact
: US DLRS 6,640,000 - 2009 - exact
: US DLRS 7,560,000 - 2010 - exact
: not given - 2011
: TUGRIK 10,108,334,362 2012 - exact
: TUGRIK 11,242,192,038 2013 - exact
: TUGRIK 12,000,000,000 2014 projected
Net Profit : TUGRIK 4,738,241,702 2012 - exact
: TUGRIK 4,757,396,011 2013 - exact
* Sharp increase in sales turnover of the financial year of 2007 was due to a big amount of supplies imported from overseas.
Financial year ends 31 December.
Date Started : 28 August 2003
History : The subject was established in Ulaanbaatar on 28 August 2003.
Tax No. : 2774097
Authorised Capital : TUGRIK 12,772,880,487.24
Paid-Up Capital : TUGRIK 12,772,880,487.24
Limited Liability Company with the following directors and shareholders :
Directors
1. Tsegmed Batbayar
2. Tserendorch Odsuren
3. Angarag Batjargal (Ms)
Shareholders
Percentage
1. Tsegmed Batbayar 55%
(Mongolian national)
2. Tserendorch Odsuren 45%
(Mongolian national)
Affiliated
companies of Bosa Impex LLC :
Subject is a member of the Bosa Holding LLC group of companies, Mongolia, headed by :
Bosa Holding LLC
Orkhon 1, Street Amarsanaa
Bayangol District
Ulaanbaatar 16040
Mongolia
Telephone : (976 11) 361 531 / 361 560
Fax : (976 11) 305 056
Other
members of the group include the following companies :
1. Bosa LLC
Amarsanaa Street
16 Khoroo
Bayangol District
Ulaanbaatar-44
Telephone : (976 11) 361 531
Fax : (976 11) 361 339
Est. : 22 October 1996
2. Baruun Bus LLC
Teeverchid Street 171
Songinokhairkhan District
Ulaanbaatar 18103
Mongolia
Telephone : (976 11) 632 713
Fax : (976 11) 632 713
3. Blue Gold LLC
Orkhon 1, Street Amarsanaa
Bayangol District
Ulaanbaatar 16040
Telephone : (976 11) 360 039 / (976 94) 010 039
Fax : (976 11) 360 043
4. Owl Security LLC
Orkhon 1, Street Amarsanaa
Bayangol District
Ulaanbaatar 16040
Mongolia
Telephone : (976 11) 305 041 / 305 042
Fax : (976 11) 361 339
5. Bosa Catering LLC
Orkhon 1, Street Amarsanaa
Bayangol District
Ulaanbaatar 16040
Mongolia
Telephone : (976 11) 367 254
Fax : (976 11) 305 056
6. Bosa Construction LLC
Orkhon 1, Street Amarsanaa
Bayangol District
Ulaanbaatar 16040
Mongolia
Telephone : (976 11) 361 560
Fax : (976 11) 305 056
The Company is involved in the following activities :
Trading as importers and wholesalers of foodstuff including confectionary products, edible oil, pickles and olives.
Subject's main suppliers are as follows :
- Arcor S.A.I.C, Group of Argentina;
- Continental Bakery GmbH of Germany;
- Vobro and Frutico companies of Poland;
- Kervan Gida and Dost Gida companies of Turkey;
- Owl International Pte ltd of Singapore;
- Cailan Oils&Fats Industries LLC of Vietnam;
- Hosan of South Korea.
NACE Codes : 4617 / 4634 / 4638
Imports from South Korea, China, Philippines, Singapore, Malaysia, Vietnam, Russia, Poland, Hungary, Spain, Germany, Turkey, Mexico, Brazil and Argentina.
Subject does not export, all sales are domestic.
The Company has the following facilities :
Owned administrative offices located at the heading address as well as 80,000 sq. m. storage facilities located elsewhere in Ulaanbaatar.
Subject's sister companies own a chain of eight supermarkets located elsewhere in Ulaanbaatar where Bosa Impex Co Ltd is the main supplier.
You
enquired on: BOSA IMPEX CO LTD BOCA HMIIEKC JITI.
Please note that subject's correct registered name is as per heading.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.06 |
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1 |
Rs.101.84 |
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Euro |
1 |
Rs.81.56 |
INFORMATION DETAILS
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Analysis Done by
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RAS |
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Report Prepared
by : |
NIT |
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 SCs 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.