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Report Date : |
18.02.2014 |
IDENTIFICATION DETAILS
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Name : |
GANBARMAT LLC |
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Registered Office : |
Engles Avenue (aka Englesiin), Gangariin 1-1, Khan-Uul
District, 3rd Khoroo, Ulaanbaatar |
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Country : |
Mongolia |
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Date of Incorporation : |
16.05.2001 |
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Legal Form : |
Limited
Liability Company |
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Line of Business : |
· Manufacturers and distributors of building materials. ·
Producer of facing and surfacing stones, polystyrene blocks and
polymer products such as bath, sink, shelf and brackets and supply to the
Gangar Invest Co., Ltd and other construction companies. |
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No. of Employees : |
20 |
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) |
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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
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 |
Ganbarmat LLC
Street : Engles
Avenue (aka Englesiin), Gangariin 1-1
Area : Khan-Uul
District, 3rd Khoroo
Town : Ulaanbaatar
Country : Mongolia
Telephone: (976 11) 681 955 / Mobile
(976 91) 117 890 (Bishrel Purev) / (976 99) 104 989
Fax : (976
11) 981 955
E-Mail : ganbarmat@mail.com / bishrel@hotmail.com
Website : www.ganbarmat.mn
Also known as :
Ganbarmat XXK / Ganbarmat Co., Ltd
Name Position
Bishrel
Purev Managing Director
Total Employees :
20
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
The company also has an
account with :
Trade
and Development Bank of Mongolia
Juulnchny
Gudamj 7
Ulaanbaatar
210646
Telephone:
(976 11) 312 362 / 331 133
Fax : (976 11) 325 449
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 1,200,000 - 2013 - exact
: US DLRS 2,000,000 - 2014 - projected
Net Profit :
not given
Financial year
ends 31 December.
Date Started : 16
May 2001
Capital : not
given
Limited Liability
Company with the following sole shareholder:
Bishrel
Purev 100%
The Company is involved in the following activities :
· Manufacturers and distributors of building materials.
· Producer of facing and surfacing stones, polystyrene blocks and polymer products such as bath, sink, shelf and brackets and supply to the Gangar Invest Co., Ltd and other construction companies.
NACE Code : 4613
Imports from
China and USA.
Subject does not
export, all sales are domestic.
The Company has
the following facilities :
Administrative offices located at the heading address as well as a manufacturing unit located elsewhere in Ulaanbaatar.
Engles Avenue
(aka Englesiin), Gangariin 1-1
Khan-Uul District, 3rd Khoroo
Ulaanbaatar
Interviewed:
Bishrel Purev (Managing Director).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.95 |
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UK Pound |
1 |
Rs.104.02 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
-- |
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.