.
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Report Date : |
28.01.2014 |
IDENTIFICATION DETAILS
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Name : |
AY END AR MONGOLIYA LLC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
27.11.2001 |
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Legal Form : |
Limited Liability
Company |
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Line of Business : |
Importers and wholesalers
of food products, general groceries, perfumes and building materials. |
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No. of Employees : |
75 |
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) |
|
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.
|
Source : CIA |
Ay End Ar Mongoliya LLC (Correct)
I and R Mongolia Co Ltd (Requested)
Building : Home Plaza, Bldg 26, Office 301
& 302
Street :
Area :
Bayanzurh District, 15-Microdistrict, 2-Khoroo
P.O. Box : 453
Town :
Ulaanbaatar 51
Country :
Mongolia
Telephone : (976 11) 458 858 / 450 681 / Mobile
(976 99) 117 653
Fax :
(976 11) 461 390
E-Mail :
amgalan@inr.mn / onio001@yahoo.com / byambaa@inr.mn / batsuren@inr.mn
English
Translation : I And R Mongolia LLC
Also known as : Ay End Ar Mongoliya XXK / I And R
Mongolia Co., Ltd
Name Position
1. Mishig
Enkh-Amgalan Managing Director
2. Batdorj
Batsuren Deputy Managing Director
3. Batdorj
Bayanbatsetseg (Ms) Chief Accountant
4. Erdin
Enkh-Amgalan Manager
(brother of the above)
Total Employees :
75
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 : TUPBUSS CORPORATION
Building : Rm
204, Kunshin 28/B
Street : 250-4 Dohwa-Dong
Area : Mapo-Ku
Town : Seoul
Country : South Korea
NAME : DONGWON F & B LTD
Street : 275 Yangjae-Dong
Area : Seocho-Gu
Town : Seoul
Country : South Korea
NAME : HAITAI CONFECTIONERY CO LTD
Street : 131-1, Namyoung-Dong
Area : Yongsan-Ku
Town : Seoul
Country : South Korea
NAME : TRADE AND DEVELOPMENT BANK OF MONGOLIA
Branch : Khudaldaany Gudamj 7
Town : Ulaanbaatar
Telephone: (976
11) 321 171
Fax : (976 11) 325 449
Subject also has an account with :
Khan Bank of
Mongolia
Peace Avenue
P.O Box-185
Ulaanbaatar
Telephone: (976
11) 457 880
Fax : (976 11) 457 880
Subject had an account with :
Zoos Bank of
Mongolia
Baga toiruu 7/1,
1st khoroo
Chingeltei
District
Ulaanbaatar
210644
Telephone: (976
11) 312 107 / 312 724
Fax : (976 11) 329 537
Private companies
in Mongolia are not required to publish or
disclose balance
sheets. However, the subject interviewed offered
the following
information (latest available):
Sales
Turnover : TUGRIK 3,531,537,600 - 2004
- exact
: TUGRIK
4,000,030,000 - 2005 - exact
: TUGRIK
3,593,000,000 - 2006 - exact
: TUGRIK
4,291,691,000 - 2007 - exact
: TUGRIK
5,526,566,000 - 2008 - exact
Profit Before Tax
: TUGRIK 260,821,150 - 2004 - exact
: TUGRIK 276,700,950 - 2005 - exact
: TUGRIK 170,000,000 - 2006 - exact
: TUGRIK 124,875,000 - 2007 - exact
: TUGRIK 676,385,000 - 2008 - exact
Financial year
ends 31 December.
The following
financial information applies to Houm Plaza LLC:
Sales
Turnover : EURO 1,000,000 - 2013 - approx
Net Profit :
not given
Financial year
ends 31 December.
Date Started : 27
November 2001
History : The
subject was established in Mongolia on 27 November 2001 as a limited liability
company with the following shareholders: Mishig Enkh-Amgalan (50%), Batdorj
Batsuren (30%) and Dorjbal Chuluunbat (20%). In 2006, the shareholding
structure changed to the present.
Tax No.: 2691582
VAT No. : 1763
Authorised
Capital : TUGRIK 301,840,000
Paid up Capital :
TUGRIK 301,840,000
Limited Liability Company with the following
shareholders :
Shareholders Percentage
1. Mishig
Enkh-Amgalan 50%
2. Batdorj
Batsuren
50%
Affiliated companies of I & R Mongolia Co Ltd :
Associates
1. Houm Plaza LLC
Home Plaza, Bldg 26, Office 307
4 Peace Avenue (Dorj's avenue)
Bayanzurh District, 15-Microdistrict,
2-Khoroo
P.O. Box : 453
Ulaanbaatar 51
Telephone:
(976 70) 150 263 / 150 264 / 150 262 / Mobile (976 99)
997 653 (Odnoo Erdin) / (976 99) 704 314 /
(976 88) 070 119
Fax
: (976 11) 150 265
Est.: 2008
(Operators of supermarket)
2. Happy Mart
(Building contractors)
The Company is
involved in the following activities :
Importers and
wholesalers of food products, general groceries,
perfumes and
building materials.
Imports from
South Korea, Russia, Vietnam and Spain.
Subject does not
export, all sales are domestic.
Imported from
China and Thailand.
Agencies Held :
- Nomin Trade
- Minii Delguur
- Bosa
- Sky Shopping
- Tushig
- Apti
- Bishrelt
- TBD Anduud
- Tenger
- Nomin Zereglee
- KCC, South
Korea
The Company has
the following facilities :
Administrative
offices and storage facilities located at the heading address.
Until September
2007 subject was located in Bridge Plaza, Offices No.
403-403,
Ulaanbaatar.
Home Plaza, Bldg
26
4 Peace Avenue
(Dorj's avenue)
Bayanzurh
District, 15-Microdistrict, 2-Khoroo
P.O. Box : 453
Ulaanbaatar 51
You enquired on: I
and R Mongolia Co Ltd. Please note that the correct name is as per
heading.
Interviewed:
Erdin Enkh-Amgalan (Manager).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.71 |
|
UK Pound |
1 |
Rs.103.50 |
|
Euro |
1 |
Rs.85.82 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
|
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 |
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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 |
|
<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.