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Report Date : |
18.02.2014 |
IDENTIFICATION DETAILS
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Name : |
KLEYRLEYKS KAPITAL LLC |
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Registered Office : |
Marco Polo Place, Jamiyan Guni Street Building 5/3, Suite 3-7,
Sukhbaatar District, Ulaanbaatar |
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Country : |
Mongolia |
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Date of Incorporation : |
2012 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject engages in management of real estate |
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No. of Employees : |
6 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Mongolia |
C1 |
C1 |
|
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.
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Source
: CIA |
KLEYRLEYKS KAPITAL LLC (Correct)
CLEAR LAKES CAPITAL (Requested)
Building : Marco Polo Place
Street : Jamiyan Guni Street
Building 5/3, Suite 3-7
Area : Sukhbaatar District
Town : Ulaanbaatar
Country : Mongolia
Mobile : (976 95) 886 502 (Paul
Heaton) / (976 99) 096 506 (Ms. Bolor) / (976 88) 126 659
E-Mail : Paul@clc.mn /
Bolor@clc.mn / Boogii@clc.mn
Website : www.clc.mn
Also known as : Kleyr Leyks Kapital LLC / Kleyrleyks Kapital XXK /
Clearlakes Capital LLC / Clear Lakes Capital LLC
Name Position
1. Paul Heaton
Managing Director
2. Ms. Bolor
Accountant
Total Employees : 6
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.
NAME : KHAN BANK OF MONGOLIA
Branch : Duchin Myangat Branch
Town : Ulaanbaatar
Telephone: (976 11) 457 880
Fax : (976 11) 457 880
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 : 2012
Tax No.: 5465958
Capital : not given
Limited Liability Company with the following shareholders:
Details of subject's shareholding structure could not be learnt at
present.
The Company is involved in the following activities :
Subject engages in management of real estate.
NACE Code : 6832
Subject neither imports nor exports any products (requirements) at
present time.
The Company has the following facilities :
Administrative offices located at the heading address.
Marco Polo Place
Jamiyan Guni Street Building 5/3, Suite 3-7
Sukhbaatar District
Ulaanbaatar
You enquired on: Clear Lakes
Capital. Please note that the correct name is as per heading.
Interviewed: Paul
Heaton (Managing Director).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
Rs.61.95 |
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|
1 |
Rs.104.02 |
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Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.