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Report Date : |
11.01.2014 |
IDENTIFICATION DETAILS
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Name : |
BRIKLAND LLC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
09.09.2008 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as importers and distributors of motor oil |
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No. of Employees : |
05 (administrative
staff) |
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 |
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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 |
Brikland LLC (Correct)
BRICKLAND LLC (Requested)
Street :
Area :
Sukhbaatar
District, 1st Khoroo
Town :
Ulaanbaatar
Country :
Mongolia
Telephone : (976 70) 110 757 / 100 757 / Mobile
(976 95) 097 435 / (976 96) 966 663 / (976 99) 093 333 /
(976 99) 077 632 (976 94) 017 435 / (976 99) 115 054
Fax :
(976 70) 110 757 / 100 757
E-Mail : info@brickland.mn / zolzaya@brickland.mn / kholboo@brickland.mn
Also known as :
Brikland XXK / Brickland LLC / Brickland Co., Ltd
Name
Position
Batkhuu
Chinbat Managing Director
Total Employees : 5 (administrative staff)
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.
Subject declined
to name its bankers.
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 : 9 September 2008
Tax No.: 5255937
Capital : not given
Limited Liability Company with the following sole
shareholder:
Batkhuu
Chinbat
100%
The Company is
involved in the following activities :
Trading as importers
and distributors of motor oil.
NACE Code : 4532
Imports from
Europe.
Subject does not
export, all sales are domestic.
Distributors for
Castrol.
The Company has the following facilities :
Administrative
offices located at the heading address.
You enquired on:
BRICKLAND LLC. Please note that this name applies to an also known as of the
subject’s name. Subject’s correct registered name is as per heading.
Interviewed:
Subject’s employees.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.94 |
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UK Pound |
1 |
Rs.102.06 |
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Euro |
1 |
Rs.84.31 |
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.