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Report Date : |
13.05.2014 |
IDENTIFICATION DETAILS
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Name : |
EZCON LLC |
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Registered Office : |
Rokmon Building, 7th Floor, Office No. 701, Constitution Street No. 24, 2nd Khoroo, Bayangol District, Ulaanbaatar |
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Country : |
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Date of Incorporation : |
19.03.2009 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as importers and wholesalers of building materials. |
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No. of Employees : |
15 plus |
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) |
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Mongolia |
C1 |
C1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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.
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Source
: CIA |
CO. NAME : EZCON LLC (Correct)
EZCON LIMITED LIABILITY COMPANY-FOREIGN INVESTED
(Requested)
Building : Rokmon Building, 7th
Floor, Office No. 701
Street : Constitution Street
No. 24
Area : 2nd Khoroo, Bayangol
District
Town : Ulaanbaatar
Country : Mongolia
Telephone : (976 70) 132 022 /
Mobiles (976 91) 113 325 (Kim Sog
Jun) / (976 91) 997
726 (Batt Ochir) / (976 91) 042 022
(Mend Bayar) / (976
88) 070 675 / (976 91) 032 022 /
(976 91) 114 422 /
(976 91) 042 022
Fax : (976 70) 132 026
E-Mail : info@ezcon.mn /
kim.s93@hanmail.net
Website : www.ezcon.mn
Also Known As : Ezcon Limited Liability Company-Foreign Invested / EZCON
XXK
Name Position
1. Kim Sog Jun
Chairman
2. Batt Ochir
General Manager
3. Batt Delger
Administrative Manager
4. Mend Bayar Factory
Manager
Total Employees : 15 plus
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 : Above Average
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
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 : 19 March 2009
History : The company
was established in Ulaanbaatar on 19 March 2009.
C.R. No.: 9019045053
Tax No.: 5293677
Capital : not given
Limited Liability Company with the following sole shareholder :
Kim Sog Jun
(South Korean national)
Affiliated company of the EZCON LLC :
Associate
Ezcon Company
Russia
The Company is involved in the following activities :
Trading as importers and wholesalers of building materials.
Manufacturers of concrete mix and blocks.
NACE Codes : 2361 / 2363
Imports from South Korea.
Subject does not export, all sales are domestic.
The Company has the following facilities :
Rented premises comprising administrative offices located at the heading
address as well as manufacturing unit with storage facilities located
throughout Mongolia (see ‘Branch Office’ below).
Manufacturing Unit
UB Building No. 105, 1st Floor
Energetics Street 45
20th Khoroo
Bayangol District
You enquired on : EZCON LIMITED LIABILITY COMPANY-FOREIGN INVESTED.
Please note that subject is also known by this name. Subject's correct
registered name is as per heading.
The address given by you : UB #105 1F, 45-STREET ENERGETICS, 20TH
KHOROO, BAYANGOL DISTRICT applies to subject's branch office address. Please
note that subject’s correct administrative office address is as per heading.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.59.73 |
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1 |
Rs.100.82 |
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Euro |
1 |
Rs.82.22 |
INFORMATION DETAILS
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Analysis Done by
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SUB |
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Report Prepared
by : |
NNA |
RATING EXPLANATIONS
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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 |
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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 |
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-- |
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.