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Report Date : |
28.03.2014 |
IDENTIFICATION DETAILS
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Name : |
LINKS POVER KORE LLC |
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Registered Office : |
Beton-Armatur LLC’s Building, Chinggis Avenue, 2nd Khoroo, Ulaanbaatar |
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Country : |
Mongolia |
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Date of Incorporation : |
26.05.2009 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as importers and distributors of machinery, equipment and
construction materials. |
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No. of Employees : |
50 |
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 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
LINKS POVER KORE LLC (Correct)
LYNX POWER CORE LLC (Requested)
Building : Beton-Armatur LLC’s Building
Street : Chinggis Avenue
Area : 2nd Khoroo
Town : Ulaanbaatar
Country : Mongolia
Telephone: (976 77) 443 333 / Mobile (976 99) 199 335 (B. Bat-Erdene) / (976
99) 094 822 / (976 91) 918 647 / (976 99) 084 977 / (976 99) 661 082 / (976 91)
112 893 (A. Gantulga)
Fax : (976 77) 443 333
E-Mail : altanzul@lynx.mn
Website : www.lynx.mn
English Translation : Lynx Power Core LLC
Also known as : Links Pover Kore XXK / Lynx Powercore LLC
Name Position
1. A. Gantulga
General Director
2. B. Bat-Erdene
Director
3. Ms. Altanzul
Sales Manager
Total Employees : 50
No complaints have been heard regarding payments from local suppliers or
banks.
We consider it is acceptable to deal with subject for SMALL amounts,
although it is normal accepted practice for international suppliers to deal
on secured terms with Mongolian importers.
Trade risk assessment: Normal
NAME : KHAN BANK OF MONGOLIA
Branch : Peace Avenue
P.O. Box : 185
Town : Ulaanbaatar
Telephone: (976 11) 457 880
Fax : (976 11) 457 880
The company also has an account with :
Trade and Development Bank of Mongolia
Juulnchny Gudamj 7
Ulaanbaatar 210646
Telephone: (976 11) 312 362
/ 331 133
Fax : (976 11) 325 449
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 - 2013 - approx
Net Profit : not given
Financial year ends 31 December.
Date Started : 26 May 2009
Tax No.: 5306795
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 :
Trading as importers and distributors of machinery, equipment and
construction materials.
NACE Code : 4663
Imports from Singapore, China and USA.
Subject does not export, all sales are domestic.
Distributors for : Bobcat.
The Company has the following facilities :
Administrative offices located at the heading address.
You enquired on: Lynx Power Core 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 which you provided: 976-7744-3331 is could not be
identified. Please note that subject's correct telephone numbers are as per
heading.
Interviewed: B. Bat-Erdene (Director).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.13 |
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|
1 |
Rs.99.65 |
|
Euro |
1 |
Rs.82.91 |
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 |
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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 |
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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 |
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26-40 |
B |
Capability to overcome
financial difficulties seems comparatively below average. |
Small |
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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 |
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<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.