.
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Report Date : |
28.01.2014 |
IDENTIFICATION DETAILS
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Name : |
HOUM PLAZA LLC |
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Registered Office : |
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Country : |
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Year of Establishments: |
2008 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
importers,
wholesalers, retailers and distributors of foodstuff and clothes. |
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No. of Employees : |
70 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
Houm Plaza LLC (Correct)
Home Plaza Co Ltd (Requested)
Building : Home Plaza, Bldg 26, Office 307
Street :
Area :
Bayanzurh District, 15-Microdistrict, 2-Khoroo
P.O. Box : 453
Town :
Ulaanbaatar 51
Country : Mongolia
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
E-Mail : onio001@yahoo.com
English
Translation : Home Plaza LLC
Also known as : Houm Plaza XXK / Home Plaza Co., Ltd
Name Position
1. Mishig
Enkh-Amgalan General Director
2. Mr.
Aruntamir Executive Director
3. Odnoo Erdin Financial Department Manager
Total Employees :
70
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 : TRADE AND DEVELOPMENT BANK
OF MONGOLIA
Branch : Juulnchny Gudamj 7
Town : Ulaanbaatar 210646
Telephone: (976 11) 312 362 / 331 133
Fax : (976 11) 325 449
The company also has an account with the following
banks:
1. Golomt Bank of Mongolia
Main Branch
Bodi Tower, Sukhbaatar Square
Ulaanbaatar
Telephone: (976 11) 311 530
Fax : (976 11) 312 307
2.
Khan Bank of Mongolia
Peace Avenue
P.O Box-185
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 1,000,000 - 2013 - approx
Net Profit :
not given but stated to be
profitable
Financial year
ends 31 December.
The following
financial information applies to Ay End Ar Mongoliya LLC:
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.
Date Started : 2008
Tax No.: 5160804
Capital : not
given
Limited Liability
Company with the following sole shareholder:
Mishig
Enkh-Amgalan
100%
Affiliated companies of the subject company :
Associates
1. Ay End Ar
Mongoliya LLC
Home Plaza, Bldg 26, Office 301 & 302
4 Peace Avenue (Dorj's avenue)
Bayanzurh District, 15-Microdistrict,
2-Khoroo
P.O. Box : 453
Ulaanbaatar 51
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 /
27 November 2001
Tax No.: 2691582
VAT No. : 1763
Capital : TUGRIK 301,840,000
Shareholders
- Mishig Enkh-Amgalan - 50%
- Batdorj Batsuren - 50%
2. Happy Mart
(Building contractors)
The Company is
involved in the following activities :
Trading as
importers, wholesalers, retailers and distributors of foodstuff and clothes.
Operators of
supermarkets.
NACE Code : 4619
/ 4782
Imports from
South Korea, Germany and Spain.
Subject does not
export, all sales are domestic.
The Company has
the following facilities :
Administrative
offices and a supermarket styles "Home Plaza" located at the heading address
as well as additional supermarket located elsewhere in Ulaanbaatar.
You enquired on:
Home Plaza Co Ltd. Please note that the correct name is as per heading.
Interviewed:
Odnoo Erdin (Financial Department 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 |
|
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 |
|
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.