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Report Date : |
19.03.2014 |
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Tel. No.: |
976-1134-6644 |
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Fax No.: |
976-1134-6634 |
IDENTIFICATION DETAILS
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Name : |
KHURD GRUPP LLC |
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Registered Office : |
Khurd Group Building, 5th Floor, Office 501, Mahatma Gandhi Street, Building 11, Khan-Uul District, 15th Khoroo, Ulaanbaatar |
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Country : |
Mongolia |
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Date of Incorporation : |
2001 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Building contractors. |
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No. of Employees : |
100 |
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 : |
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 – 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 |
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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-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 |
CO. NAME : KHURD GRUPP LLC (Correct)
KHURD GROUP LLC (Requested)
Building : Khurd Group Building, 5th Floor, Office 501
Street : Mahatma Gandhi Street,
Building 11
Area : Khan-Uul District, 15th
Khoroo
Town : Ulaanbaatar
Country : Mongolia
Telephone: (976 11) 346 644 / 346 655 / Mobile (976
99) 903 601 (Togtokh Khishigtogtokh) / (976 95) 903 600 (Mr. Munkhnasa)
Fax : (976 11) 346 644 / 346 655
E-Mail : khurdgroup@gmail.com / info@khurdgroup.mn
Website : www.khurdgroup.mn
English Translation : Khurd Group LLC
Also known as : Khurd Group XXK / Hurd Grupp XXK
Name Position
1. D. Enkhgerel Managing Director
2. Togtokh Khishigtogtokh Manager
3. Mr. Munkhnasa Manager
Total Employees : 100
No complaints have been heard regarding payments from local suppliers or
banks.
We consider it is acceptable to deal with subject for SMALL amounts,
however in view of the lack of financial information we recommend
international suppliers exercise a degree of caution.
Trade risk assessment: Normal
It is normal accepted practice for international suppliers to deal on
secured terms with Mongolian importers.
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 :
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. 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 : 2001
Tax No.: 3227302
Capital : not given
Limited Liability Company with the following shareholders:
Details of subject's shareholding structure could not be learnt at
present.
Affiliated companies of the subject company :
Associates
1. Khurd Auto LLC
2. South Gobi Coal Trans LLC
3. Khurd Trans LLC
The Company is involved in the following activities :
Building contractors.
NACE Code : 4120
Imports from China, South Korea and Russia.
Subject does not export, all sales are domestic.
The Company has the following facilities :
Administrative offices located at the heading address.
You enquired on : Khurd Group LLC. Please note that this name applies to
an English translation of the subject’s name. Subject’s correct registered name
is as per heading.
The fax number given by you: 976-1134-6634 is could not be identified.
Please note that subject's correct telephone numbers are as per heading.
Interviewed: Togtokh
Khishigtogtokh (Manager).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.95 |
|
|
1 |
Rs.101.37 |
|
Euro |
1 |
Rs.84.89 |
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.