|
Report Date : |
15.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
LUBRICANT LLC |
|
|
|
|
Registered Office : |
Bayangol
District, 8th Khoroo, 4th Khoroolol,
No. 25/3, Ulaanbaatar |
|
|
|
|
Country : |
Mongolia |
|
|
|
|
Year of Establishments: |
2011 |
|
|
|
|
Com. Reg. No.: |
Not Available |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
General
Trading Company (We tried to confirm
/ obtain the detailed activity but the same is not available from any
sources.) |
|
|
|
|
No. of Employees |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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 |
Lubricant LLC
Area : Bayangol
District, 8th Khoroo, 4th Khoroolol,
No. 25/3
Town : Ulaanbaatar
Country : Mongolia
Mobile : (976
98) 662 434 (unattended)
Name Position
Sasurenjav
Rinchinkocha Managing Director
No
trade experience of payments is available.
Our sources could not contact the subject and obtain a direct interview. The telephone number given by you :
(976 99) 662 434 number is continuously unattended. According to our subject‘s mobile telephone number is: (976 98) 662 434 is continuously unattended. No telephone numbers are listed for the subject in the local telephone directory.
Information
in this report was obtained from the third party sources only.
Trade
risk assessment : No classification (see above comments)
It
is normal accepted practice for international suppliers to deal on secured
terms with Mongolian importers.
Details
of subject's bankers could not be learnt.
Balance
sheets are not available. Financial information could not be obtained from
other sources.
Date
Started : 2011
Capital
: not given
Limited Liability Company with the
following shareholders:
Details of subject's shareholding structure could not
be learnt at present.
The Company is involved in the
following activities :
General
trading company
The Company has the following
facilities :
Registered
office is as per heading.
Bayangol
District, 8th Khoroo, 4th Khoroolol,
No. 25/3, Ulaanbaatar
The address which you provided: 3rd Floor, Channel Center, 13th Microdistrict, 6th Khoroo, Bayanzurkh District, Ulaanbaatar is could not be identified. Please note that subject's registered office address is as per heading.
Interviewed:
Third party sources.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.52 |
|
UK Pound |
1 |
Rs.102.22 |
|
Euro |
1 |
Rs.85.23 |
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.