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Report Date : |
07.02.2014 |
IDENTIFICATION DETAILS
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Name : |
UBMTS CO., LLC |
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Registered Office : |
Khanu-Uul District, 3 Khoroo,
Ulaanbaatar |
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Country : |
Mongolia |
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Date of Incorporation : |
16.11.2009 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is engaged in the Trading as importers, wholesalers, retailer
and distributors of Korean drama movies, music and equipment for the
broadcasting. |
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No. of Employees : |
11 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Mongolia |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
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 deposits. Recent calls by nationalist politicians to renegotiate the investment agreement, however, have called into question the attractiveness of Mongolia as a destination for foreign direct investment. Negotiations to develop the massive Tavan Tolgoi coal field face similar obstacles. The economy grew by 6.4% in 2010, 17.5% in 2011, and by more than 12.3% in 2012, 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 policies, which are contributing to high inflation, and 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. Mongolia purchases 95% of its petroleum products and a substantial amount of electric power from Russia, leaving it vulnerable to price increases. Due to severe winter weather in 2009-10, Mongolia lost 22% of its total livestock, and meat prices doubled. Inflation remained higher than 10% for much of 2010-12, due in part to higher food and fuel prices. The economic slowdown in China during 2011-2012 resulted in fewer Mongolian exports, a widened trade gap, and decreased government revenues, putting pressure on Mongolian fiscal policy. Remittances from Mongolians working abroad, particularly in South Korea, are significant.
|
Source
: CIA |
UBMTS CO., LLC (Correct)
Ubmts Co LLC (Requested)
Area : Khanu-Uul District, 3
Khoroo
Town : Ulaanbaatar
Country : Mongolia
Mobile : (976 88) 007 593 / (976 88) 007 539 (Choi Changkyu) / (976 91) 095 708
/ (976 55) 150
255
/ (82 10) 6238 9535 (Choi Changkyu)
Fax : (976 70) 829 525
E-Mail : denis114@naver.com
Website : www.ubmts.weebly.com
Shortform Name : UBMTS
Also known as : UBMTS
XXK / Yu Bi Em Ti Es XXK
Name Position
1. Joh Hak Dong President
2. Choi Changkyu Vice President / Chief Executive
Officer
Total Employees : 11
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 : GOLOMT BANK OF MONGOLIA
Branch : Bodi Tower, Sukhbaatar
Square
Town : 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 :
TUGRIK 135,000,000 - 2011 - exact
: US DLRS
1,500,000 – 2012 – approx
: US DLRS
1,500,000 – 2013 – approx
Net Profit : TUGRIK
101,000,000 - 2011 - exact
: TUGRIK
260,000,000 - 2012 - projected
Value of current contracts : US DLRS 100,000 (as of July 2012)
Total Value of Stock Held : US DLRS 100,000 (as of July 2012)
Financial year ends 31 December.
Date Started : 16
November 2009
C.R. No. : 9019051022
Tax No.: 5339553
Authorised Capital : TUGRIK
140,000,000
Paid-Up Capital : TUGRIK
140,000,000
Limited Liability Company with the following shareholders:
Shareholders Percentage
1. Joh Hak Dong 50%
2. Choi Changkyu 50%
Affiliated company of the subject company :
Associate
ITSND Co., LLC
Ulaanbaatar
Mobile: (976 91) 095 707
Fax : (976 11) 313 535
The Company is involved in the following activities :
Trading as importers, wholesalers, retailer and distributors of Korean
drama movies, music and equipment for the broadcasting.
Subject also provides Wi-Fi solutions.
NACE Code : 4669
Imports from South Korea and China.
Subject does not export, all sales are domestic.
Subject’s principal suppliers include :
1. Samsung SNS Co. Ltd
448-11, Seongnae
3-dong
Gang Dong-Ku
Seoul 134-033
South Korea
Telephone: (82 2) 2225 6608
2. SBS Contents Hub Co. Ltd
15-15 Yeouido-dong
Youngdeunpo-gu
Seoul
South Korea
3. Munhwa Broadcasting Corp
Yeouido-Dong
Yeoungdeungpo-Gu
Seoul 150-728
South Korea
The Company has the following facilities :
Rented premises comprising administrative offices and a retail outlet
located at the heading address as well as wholesale storage facilities located
elsewhere in Ulaanbaatar.
Until September 2013 subject was located at :
Dongdaemun Sauna Building Office 201 & 202
Damdinbazar Street
18th Khoroo, Bayangol
District
Town : Ulaanbaatar
Telephone: (976 70) 829 525 / 123 001
Fax : (976 70) 829 525
Until May 2012 subject was located at :
Tuul 3-39
16th Khoroo, Bayangol
District
Ulaanbaatar
You enquired on: Ubmts Co LLC. Please note
that the correct name is as per heading.
The telephone number which you provided: 976 8863 5707 is could not be
identified. Please note that subject's correct telephone numbers are as per
heading.
Interviewed: Choi Changkyu (Vice President / Chief Executive Officer).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.50 |
|
|
1 |
Rs.101.92 |
|
Euro |
1 |
Rs.84.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation
is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
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.