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Report Date : |
21.02.2014 |
IDENTIFICATION DETAILS
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Name : |
UNITRA CO LTD
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Registered Office : |
Baga Toiruu 37/45, Chingeltei District, 4th Khoroo, P.O. Box 184, Ulaanbaatar 211238 |
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Country : |
Mongolia
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Date of Incorporation : |
19.12.2001 |
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Com. Reg. No.: |
9011068150 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Importers, wholesalers and retailers of construction, road maintenance, mining equipment, machinery and spare parts; portable equipment and hardware tools; water pumps; agricultural equipment; offset printing equipment; spare parts for heavy machinery; electric power products and diesel generators |
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No. of Employees : |
30 |
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
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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 |
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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 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 |
Unitra Co Ltd (Correct)
Unitra Co. Ltd (Requested)
Street : Barilgachdin
Square 4/4, Max Tower 603
Area : Chingeltei
District, 4th Khoroo
P.O.
Box : 184
Town : Ulaanbaatar
211238
Country : Mongolia
Telephone:
(976 11) 311 766 / Mobile (976 91)
115 561 (Javzan Dovdonbaljir) /
(976 99) 105 561 (Mergen
Dovdon)
Fax : (976
11) 311 766
E-Mail : unitra@mongol.net / sales@unitra.mn
Website : www.unitra.mn
Also
known as : Unitra LLC / Unitra Co.,Ltd / Unitra XXK
Name Position
1.
Javzan Dovdonbaljir Managing Director
2.
Mergen Dovdon Marketing Manager
3.
Bayarmaa Ulaanbandi Sales Manager
Total
Employees : 30
No
complaints have been heard regarding payments from local suppliers
or
banks.
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 :
Khudaldaany gudamj-7
Toan :
Ulaanbaatar-11
Telephone : (976 11) 321 171
Fax :
(976 11) 325 449
The company also has an
account with the following banks:
1.
Khas Bank
Prime Minister Amar’s Street
Sukhbaatar District
Ulaanbaatar 14200
Telephone: (976 11) 318 185
Fax
: (976 11) 328 701
2.
Khan Bank of Mongolia
Peace Avenue
Ulaanbaatar
Telephone: (976 11) 457 880
Fax
: (976 11) 457 880
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 2,000,000 - 2010 –
approx
US DLRS 3,500,000 - 2011 –
approx
US DLRS 4,500,000 - 2012 –
approx
US DLRS 5,500,000 - 2013 –
approx
Net
Profit : US DLRS 500,000 - 2010
– approx
US DLRS 1,000,000 - 2011 –
approx
US DLRS 1,500,000 - 2012 – approx
Financial
year ends 31 December.
Date
Started : 19 December 2001
C.R.
No. : 9011068150
Tax
No.: 2695316
Capital
: US DLRS 2,000,000 (increased from US DLRS 500,000 in December 2010)
Limited Liability Company
with the following sole shareholder :
Javzan
Dovdonbaljir
100%
The
Company is involved in the following activities :
Importers,
wholesalers and retailers of construction, road
maintenance,
mining equipment, machinery and spare parts; portable
equipment
and hardware tools; water pumps; agricultural equipment;
offset
printing equipment; spare parts for heavy machinery; electric
power
products and diesel generators.
NACE
Code: 4663 / 4614 / 2362 / 2420 / 4520
Agents
for :
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Jeonil Machinery / South Korea, light construction equipment;
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Honda / Japan, engines, engine pumps and AC electric generator
sets.
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Wilo / Germany, pumps.
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Koshin pumps and Panasonic welding equipment from Japan.
Subject
also provides maintenance and after sales services.
Imports
from USA, Germany, Japan, China, Thailand
and South Korea.
Subject
does not export, all sales are domestic.
Subject
formerly engaged in the following activity:
Exporters
of camel hair and sheep wool; raw cashmere; woollen and
cashmere
products; hides and skins; minerals such as copper,
fluorspar
concentrate and copper ingot; light construction equipment;
Honda
power products and used heavy equipment.
The
Company has the following facilities :
Administrative
offices (50 sq. m.) located at the heading as well as a showroom (150 sq. m.) and warehouse
facilities (400 sq. m.) located at Baga Tairuu 37/45, Ulaanbaatar. Subject has
4 retail outlets located elsewhere in Ulaanbaatar (see 'Branch Offices' below).
Until 2013 subject was
located at :
Barilgachdin
Square 4/4, Max Tower 605
Chingeltei
district, 4th Khoroo
P.O.
Box : 184
Ulaanbaatar
211238
Baga
Toiruu 37/45
Chingeltei
District, 4th Khoroo
P.O.
Box : 184
Ulaanbaatar
211238
1.
Baga Toiruu 37/45
Chingeltei District, 4th Khoroo
P.O. Box : 184
Ulaanbaatar 211238
Telephone: (976 11) 317 062
Fax
: (976 11) 317 062
2.
Zamchdiin Gudamj 5
Bayangol District
Ulaanbaatar
Telephone: (976 21) 245 411 / Mobile (976
99) 139 877
3.
Hermes Center, B20
Narah Road 448
Bayangol District
Ulaanbaatar
Telephone: (976 99) 849 857
4.
Honda Mega Store
Khan-Uul district
Ulaanbaatar
Tel: (976 70) 131 766 / (976 99) 139 877
E-mail: sales@unitra.mn
You
enquired on: Unitra Co. Ltd. Please note that the correct name is as per
heading.
The
telephone number given by you: 976-11-317062 applies to subject’s showroom
only. Please note that subject’s administrative office telephone and fax
numbers are as per heading.
The
registration number provided by you: 3091391 is could not be identified. Please
note that subject's correct C.R. number is 9011068150.
The
registration number provided by you: 2695316 is applies to subject's correct
Tax number.
Interviewed
: Javzan Dovdonbaljir (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.62.28 |
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UK Pound |
1 |
Rs.103.84 |
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Euro |
1 |
Rs.85.70 |
INFORMATION DETAILS
|
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.