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Report Date : |
04.07.2014 |
IDENTIFICATION DETAILS
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Name : |
TOTCOM SERVICE
LLC |
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Registered Office : |
Independence
Palace, 4th Floor, Offices 408 & 409, Sukhbaatar District, 8th
Sub-district, Ulaanbaatar |
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Country : |
Mongolia |
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Date of Incorporation : |
01.07.2000 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged
trading in engineering equipment, water meters, water supply and sewerage
systems. |
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No of Employees : |
03 |
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 : |
Unknown |
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Mongolia |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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-gold deposits. Mongolia's ongoing dispute
with a foreign investor over Oyu Tolgoi, however, has called into question the
attractiveness of Mongolia as a destination for foreign direct investment.
Negotiations to develop the massive Tavan Tolgoi coal field also have stalled.
The economy has grown more than 10% per year since 2010, 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 and monetary policies, which are contributing to
high inflation, and from 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 and is Mongolia's largest
supplier. Mongolia has relied on Russia for energy supplies, leaving it
vulnerable to price increases; in the first 11 months of 2013, Mongolia
purchased 76% of its gasoline and diesel fuel and a substantial amount of
electric power from Russia. A drop in foreign direct investment and a decrease
in Chinese demand for Mongolia's mineral exports are putting pressure on
Mongolia's balance of payments. Remittances from Mongolians working abroad,
particularly in South Korea, are significant.
|
Source : CIA |
Totcom
Service LLC (Correct)
TOT
COM SERVICE CO LTD (Requested)
Building : Independence
Palace, 4th Floor, Offices 408 & 409
Area : Sukhbaatar
District, 8th Sub-district
Town : Ulaanbaatar
Country : Mongolia
Telephone : (976
77) 111 848 / 313 117 / Mobile (976 88) 111 848
(Dashdavaa
Jargalsaikhan) / (976 99) 191 848
Fax : (976
77) 313 117
E-Mail : gitot@yahoo.com / jagaa@magicnet.mn /
Website : www.totcomservice.mn
Also Known As :
Totkom Services LLC / Tot Com Service Co Ltd /
Тотком
сервис ХХK
Name Position
1. Dashdavaa
Jargalsaikhan (Mrs) General
Director
2. Ms
Onoon Sales Manager
Total Employees
: 3
Current trade experience
of payments has not been traced.
Subject
declined to give any financial, general background or
antecedent
information or to reveal the extent of the company's
operations.
Information in
this report was obtained from third party sources.
Trade risk
assessment : High
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 : 1 July 2000
History : The Subject was
established in Ulaanbaatar on 1 July 2000.
Tax No.: 2609177
Capital : not given
Limited Liability Company with the following
shareholders :
1. Dashdavaa
Jargalsaikhan
(Mongolian national)
2. Undisclosed
member.
The exact shareholding percentage was not disclosed.
The Subject is involved in the following
activities :
Trading in
engineering equipment, water meters, water supply and sewerage systems.
NACE Codes :
4611 / 4618
Subject does
not import nor export.
The Subject has the following facilities :
Rented premises
comprising administrative offices located at the heading address.
Until 2012, subject was
located at :
Peace Street
36, 302 Toot Oroo
Chingeltei
District, 3rd Khoroo
Ulaanbaatar
Subject previously used the following telephone
and fax numbers :
Telephone : (976
11) 313 117
Fax : (976
11) 313 117
You enquired on
: TOT COM SERVICE CO LTD. Please note that
subject is also known by this name. Subject's correct registered name is as per
heading.
The address given by you : Peace Street 36, 302 Toot Oroo, Chingeltei District, 3rd
Khoroo applies to the subject’s previous address. Please note that the
current address is as per heading.
The fax number given by you
: (976 11) 313 117 is no longer in
use. Please note that subject’s current fax number
is as per heading.
The telephone number given
by you : (976 88) 111 848 is incorrect. Please note that subject’s correct telephone number
is as per heading.
Interviewed :
Dashdavaa Jargalsaikhan (General Director).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.72 |
|
UK Pound |
1 |
Rs.102.45 |
|
Euro |
1 |
Rs.81.54 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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 |
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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.