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Report Date : |
05.05.2014 |
IDENTIFICATION DETAILS
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Name : |
MSN LLC |
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Registered Office : |
SBD, 6th Khoroo, (Hunsniy 4-r Delguur, Pisi Molloos Hoyshoo 200 Metrt), 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 : |
Subject is engaged in the Trading as importers and retailers of
construction materials |
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No. of Employees : |
60 |
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 – 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 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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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 |
MSN LLC (Correct)
MSN CO LTD (Requested)
Area : SBD, 6th Khoroo,
(Hunsniy 4-r Delguur, Pisi Molloos Hoyshoo 200 Metrt)
Town : Ulaanbaatar
Country : Mongolia
Telephone: (976 70) 117 744
/ Mobile (976 99) 729 929 / (976 89) 111 104 / (976 88) 110 244 (Mr Hoso)
Fax : (976 70) 117 744
E-Mail : khoso68@yahoo.com
Also known as : M Es En XXK / M Es En LLC
Name Position
1. Mark Idish Managing Director
(Mongolian national)
2. Mr. Dulguunbayar Manager
3. Mr Khoso Administrator
Total Employees : 60
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 : ULAANBAATAR CITY BANK
Branch : Sukhbaatar Street 16,
Chingeltei District
Town : Ulaanbaatar 15160
Telephone: (976 11) 319 041
Fax : (976 11) 319 041
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
Capital : not given
Limited Liability Company with the following sole shareholder:
Mark Idish 100%
The Company is involved in the following activities :
Trading as importers and retailers of construction materials.
Subject also provides installation services.
NACE Code : 4613
Imports from South Korea.
Subject does not export, all sales are domestic.
The Company has the following facilities :
Administrative offices located at the heading address.
Subject formerly was located at :
4-4 Seoul Street
Sukhbataar District
Ulaanbaatar
You enquired on: MSN CO LTD. Please note that the correct name is as per
heading.
The address which you provided: 4-4 SEOUL STREET,SUKHBAATAR
DISTRICT,ULAANBAATAR, MONGOLIA applies to subject's former address. Please note
that subject's current administrative office address is as per heading.
As per your special question: According to our customer, they cannot
found a person namely, Mark Idish in the subject.
Could you please try to contact again the subject based on the below
information?
Please be advised Mr Khoso (Administrator) confirmed that Mark Idish is
the Managing Director in the subject company.
Interviewed: Mr Khoso (Administrator).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.23 |
|
|
1 |
Rs.101.68 |
|
Euro |
1 |
Rs.83.46 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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|
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Report Prepared
by : |
NNA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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 |
|
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.