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Report Date : |
10.07.2014 |
IDENTIFICATION DETAILS
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Name : |
BRILLIANT LLC |
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Registered Office : |
Baatarkhairkhany Street 6, 23th Khoroo, Bayanzurkh
District, |
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Country : |
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Date of Incorporation : |
23.05.2003 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Drilling Contractors |
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No of Employees : |
Not Available |
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 |
Brilliant LLC (Correct)
BRILLIANT DRILLING CO.,
LTD. (Requested)
Street :
Baatarkhairkhany Street 6
Area :
23th Khoroo, Bayanzurkh District
P.O. Box No. : 96
Town :
Ulaanbaatar 51
Country :
Mongolia
Telephone : (976 11) 463 699
(unobtainable) / 321 374 (unobtainable)
Fax :
(976 11) 463 698 (unobtainable)
E-Mail :
brilliantdrilling@yahoo.com / info@brilliant.mn
Also Known As : Brilliant Drilling Co., Ltd /
Brilliant Drillin LLC /
Бриллиант
ХХК
Name Position
J. Gereltdarkhan Managing Director
No trade experience of
payments has been traced.
Our sources could not
contact the company and obtain a direct
interview. The
telephone/fax number which you provided : (976 11) 324 590 / 312 291 applies to
Mongolian University of Science and Technology, which has no affiliation with
the subject. Our show the following telephone and fax numbers listed for the
subject respectively : (976 11) 463 699 / 321 374 / (976 11) 463 698 are
unobtainable. No telephone numbers are listed for the subject at the local
telephone directory.
Information in this report
was obtained from the third party sources only.
Opinion
on maximum credit : We have
insufficient basis on which to speak for unsecured credit and recommend dealing
on fully secured terms for all transactions pending fuller knowledge.
Trade risk assessment : No classification
Details of subject's
bankers have not been learnt.
Balance sheets are not
available. Financial information could not be obtained from other sources.
Date Started :
23 May 2003
History
:
The Subject was established in Ulaanbaatar on 23 May 2003.
Tax No. :
2764563
Capital :
not given
Limited Liability Company
with the following shareholder : J. Gereltdarkhan (Mongolian national)
The Company is involved in
the following activities :
Registered activity : drilling contractors.
NACE Code : 4313
Details of subject’s imports
and exports could not be learnt.
The Company has the
following facilities :
Registered office located
at the heading address.
You enquired on : BRILLIANT
DRILLING CO., LTD. Please note that subject is also known by this name.
Subject's correct registered name is as per heading.
The telephone and fax numbers
given by you respectively : (976 11) 324 590-2212 / (976 11) 312 291 are incorrect
applies to Mongolian University of Science and Technology, no relation with our
subject.
The address which you
provided : P.O. BOX 13 ULAANBAATAR 20 is could not be identified. Please note
that subject’s correct registered address is as per heading.
Interviewed : Third party
sources.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 59.72 |
|
|
1 |
Rs. 102.35 |
|
Euro |
1 |
Rs. 81.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
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|
Report Prepared
by : |
DPT |
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.