|
Report Date : |
29.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
UNITRA CO LTD |
|
|
|
|
Registered Office : |
Baga Toiruu 37/45, Chingeltei District, 4th Khoroo, P.O. Box : 184,
Ulaanbaatar 211238 |
|
|
|
|
Country : |
Mongolia |
|
|
|
|
Date of Incorporation : |
19.12.2001 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
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. |
|
|
|
|
No. of Employees : |
30 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
No complaints |
|
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 |
|
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 |
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 :
- Jeonil Machinery / South Korea, light construction equipment; - Honda
/ Japan, engines, engine pumps and AC electric generator
sets.
- Wilo / Germany, pumps.
- 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.
Interviewed : Javzan Dovdonbaljir (Managing Director).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.99 |
|
|
1 |
Rs.104.61 |
|
Euro |
1 |
Rs.86.17 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.