|
Report Date : |
07.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
MEKHLOPAT LLC |
|
|
|
|
Registered Office : |
Grand Plaza Office Centre, Office 202, 2nd Khoroo, Bayangol District, Ulaanbaatar 21 |
|
|
|
|
Country : |
Mongolia |
|
|
|
|
Date of Incorporation : |
31.08.2003 |
|
|
|
|
Com. Reg. No.: |
9011074115 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
·
importers,
Wholesalers, Retailers and Distributors
of Equipment and spare parts for mining machineries; Excavators; Dump trucks; GET tools; Steel wire ropes, industrial and
high voltage mining cables; Hose reels; Tire protection chains; Underground
mining cable tray systems; Heavy duty vehicle washing systems; Drilling
tools; OTR tires; Underground mining ventilation systems. · Subject provides procurement services to meet specific needs and requirements of clients also provides sourcing, assembling, installation and complete range of sales after services. |
|
|
|
|
No of Employees : |
25 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
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 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate 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 |
Mekhlopat LLC
Building : Grand
Plaza Office Centre, Suite 801
Area : Bayangol
District, 2nd Khoroo
Town : Ulaanbaatar
210628
Country : Mongolia
Telephone : (976
70) 124 648 / 125 524 / 114 648 / Mobiles (976 99)
098
427 / 069 648 / (976 88) 605 272 (Munktuul
Amartaivan)
/ (976 96) 001 102
Fax : (976
70) 124 648 / 114 648 / 123 555
E-Mail : info@mekhlopat.mn / munktuul@mekhlopat.mn /
Website : www.mekhlopat.mn
Also Known As : Mekhlopat XXK
Name Position
1. Baatarsuren J. Executive
Director
2. Ganbat Dulamsuren Chief
Executive Officer
3. Munkhtuul
Amartaivan Foreign Trade Manager
4. Mr. Battsonmon Sales
Manager
5. Minjuurdorj
Saybold Sales Manager
6. Khashaa Ts Engineering
Total Employees : 25
No complaints have been
heard regarding payments from local suppliers or banks.
Subject is a member of
Namir Invest Group.
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
MEKHLOPAT LLC
AWARDEDOT’S BEST SUPPLIER FOR "SOCIAL RESPONSIBILITY PERFORMANCE"
On 2 May 2014 (www.mekhlopat.mn ): Mekhlopat LLC named as OyuTolgoi’s best supplier for social responsibility. OyuTolgoi LLC recognized and celebrated the success of its best Mongolian suppliers. The fifth Gobi Gem - Supplier Recognition Awards ceremony took place at the National Opera and Ballet Theatre in Ulaanbaatar with Mekhlopat LLC and other 8 companies named as OyuTolgoi’s best supplier.
Through its Corporate Social Responsibility strategy, Mekhlopat LLC implemented a number of programs in collaboration with the School of Mining Engineering, Municipal Authority for Children, National Garden Park, Edu-relief NGO and Lotus Children Centre NGO. We also provided student scholarships & internships in mining and mechanical engineering fields and donated library and computer equipment to Khyalganatsoum of Bulgan province of Mongolia. We also supported a program producing eco-bags run by disabled people. Mekhlopat LLC sent sales and technical employees to Holland, China and Australia to study.
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 :
Golomt Bank of Mongolia
Main Branch
Bodi Tower, Sukhbaatar
Square
Ulaanbaatar
Telephone: (976 11) 311
530
Fax : (976 11) 312 307
Private companies in Mongolia are not required to publish or disclose balance sheets. However, the subject interviewed offered the following information :
Sales Turnover : TUGRIK 3,500,000,000 - 2010 -
exact
: TUGRIK
4,500,000,000 - 2011 - exact
: TUGRIK 5,500,000,000 - 2012 – exact
: TUGRIK
5,400,000,000 - 2013 – exact
: TUGRIK
4,500,000,000 - 2014 – projected *
Net Profit :
TUGRIK 500,000,000 - 2010 - exact
:
TUGRIK 700,000,000 - 2011 - exact
* Projected decrease in
sales turnover in 2014 is due to unfavorable market conditions.
Financial year ends 31
December.
Date Started : 31 August 2003
History : The company was
established in Ulaanbaatar on 31 August 2003, however origins of
subject's business activities can be traced back to 2002.
C.R. No.: 9011074115
Tax No.: 2682354
Authorised Capital : TUGRIK 4,500,000,000
Paid-Up Capital : TUGRIK 4,500,000,000
Limited Liability
Company with the following sole shareholder :
Baatarsuren J. 100%
Affiliated
companies of the Mekhlopat LLC :
Associates
1. Namir Invest LLC
Grand Plaza Office Centre, Office 807-809, 2nd
Khoroo
Bayangol District
Ulaanbaatar 210628
Telephone: (976 70) 125 524 / 125 524
Fax
: (976 70) 123 555
Email
: naming@yandex.ru / enkhzul@namir.mn
Website
: www.namir.mn
Managing Director: Baatarsuren J.
Est.: 12 August 2002
2. Amore international
LLC
Grand Plaza Office Centre, Office 1406, 2nd
Khoroo
Bayangol District
Ulaanbaatar 210628
Telephone: (976 70) 127 535
Fax
: (976 70) 137 535
3. Namir LLC
(Zippo Mongolia)
Maxmall Supermarket, 1st Floor
Baruun Road 4
Ulaanbaatar
Telephone: (976 50) 888 866
4. Montermo LLC
Ulaanbaatar
5. Reduktor LLC
1st Service Centre, 1st Horoolol,
Songinokhairkhan District,
Ulaanbaatar
Telephone: (976 70) 125 524
Fax
: (976 70) 123 555
The Company is
involved in the following activities :
Trading as importers,
wholesalers, retailers and distributors of the following :
- Equipment and spare
parts for mining machineries;
- Excavators;
- Dump trucks;
- GET tools;
- Steel wire ropes,
industrial and high voltage mining cables;
- Hose reels;
- Tire protection chains;
- Underground mining
cable tray systems;
- Heavy duty vehicle
washing systems;
- Drilling tools;
- OTR tires;
- Underground mining ventilation
systems.
Subject provides
procurement services to meet specific needs and requirements of clients also
provides sourcing, assembling, installation and complete range of sales after
services.
NACE Codes : 3312 / 3320
/ 4663 / 4614 / 4662
Subject
distributor for the following :
- Eurotire;
- Hensley Industries;
- MMK Metiz;
- AmerCable;
- Pewag Chains;
- InterClean Equipment
Inc.
Subject’s main
services offered as follows :
- Supply, assembly and
service of mining equipment’s;
- On-demand procurement
and sourcing of mining equipment’s and spare
parts;
- Supply,
installation and service of spare parts
and related
Components;
- Full range of
after-sales services and support;
- Training for assembly,
installation and service of spare parts and
mining consumables;
- Product procurement,
selection and purchasing planning services;
- Warehouse leasing and
product storage services.
Subject is ISO 9001:2008
certified.
Imports from Europe, Ukraine,
Romania, Russia, Germany, China, South Korea, USA, India and Canada.
Subject does not export,
all sales are domestic.
The Company has the
following facilities :
Owned premises comprising
administrative offices located at the heading address as well as owned a retail
outlet and storage facilities located near Power Plant, Bayangol District,
Ulaanbaatar.
Subject previously
had storage facilities located at :
Near TETS-4
20th Khoroo
Bayangol District
Ulaabaatar
Grand Plaza Office
Centre, Office 202, 2nd Khoroo
Bayangol District
Ulaanbaatar 21
The address given by you :
Office 202 applies to the
subject’s previous address. Please note that the current address is as per
heading.
Interviewed : Munkhtuul
Amartaivan (Foreign Trade Manager).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.20 |
|
UK Pound |
1 |
Rs.101.68 |
|
Euro |
1 |
Rs.83.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.