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Report Date : |
06.05.2014 |
IDENTIFICATION DETAILS
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Name : |
UVASHI MEDICAL LLC |
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Registered Office : |
Onol Bulgan Building, 3rd Floor, Enkhtaivanii Urgun Chuluu 96, 10 Khoroolol, 5 Khoroo Bayangol District, Ulaanbaatar |
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Country : |
Mongolia |
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Date of Incorporation : |
2012 |
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Legal Form : |
Limited Liability
Company |
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Line of Business : |
Trading as
importers and retailers of medical equipment’s for private hospitals. |
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No. of Employees : |
40 |
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 |
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Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderately 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 |
UVASHI
MEDICAL LLC
Building :
Onol Bulgan Building, 3rd Floor
Street : Enkhtaivanii Urgun Chuluu 96
Area : 10 Khoroolol, 5 Khoroo Bayangol District
Town : Ulaanbaatar
Country : Mongolia
Telephone: (976
70) 008 848 / Mobile (976 99) 992 011 (Administrative Manager)
E-Mail : msemongolia@gmail.com
Also Known
As : Uvashi Medical XXK
Name Position
1. Erdene
Ankhbayarrn General Manager
2. Ankha
Erden Administrative Manager
Total
Employees : 40
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. Although it is normal
accepted practice for international suppliers
to deal on
secured terms with Mongolian importers.
Trade risk assessment
: Normal
NAME : TRADE AND DEVELOPMENT BANK MONGOLIA LTD
Branch : Juulnchny Gudamj 7
Town : 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. 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 :
2012
History : The company was
established in Ulaanbaatar in 2012.
Authorised Capital : US DLRS 1,000,000
Paid-Up Capital : US DLRS 250,000
Limited Liability
Company with the following director and shareholders :
Director
Erdene
Ankhbayarrn
Shareholders
1. Erdene
Ankhbayarrn
(Mongolian national)
2. Badam
Tsetseg
(Mongolian national)
3. Balginyan
Onon
(Mongolian national)
4. Erden
Baatar
(Mongolian national)
The exact
shareholding percentage was not disclosed.
Affiliated
company of the Uvashi Medical LLC :
Associate
Sun Medical
Center
Shastin
Central Hospital
Ulaanbaatar
Telephone:
(976 11) 689 816 / (82 10) 5531 9398 (Oh Yunerden)
E-Mail : lo_erdene@yahoo.com
The Company is
involved in the following activities :
Trading as
importers and retailers of medical equipment’s for private hospitals.
Subject also
provides installation and maintenance services.
NACE Code :
4774
Imports from
European Countries and South Korea.
Subject does
not export, all sales are domestic.
The Company
has the following facilities :
Rented premises comprising administrative offices, a retail outlet, a
service centre and storage facilities located at the heading address.
Interviewed : Ankha Erden (Administrative
Manager).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.05 |
|
|
1 |
Rs.101.32 |
|
Euro |
1 |
Rs.83.34 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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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 |
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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.