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Report Date : |
13.05.2014 |
IDENTIFICATION DETAILS
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Name : |
TAIGAM ALTAI CO LTD |
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Formerly Known As : |
Taigam Altai XXK / Taigam Altai LLC |
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Registered Office : |
Engels Al Tai Street, town 13-1, Bayangol District, 1st Sub District (aka 1st Khoroo), Ulaanbaatar |
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Country : |
Mongolia |
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Date of Incorporation : |
2000 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Company is involved in the following activities : · General building contractors. · Trading as importers and manufacturers of windows, doors, plumbing and decoration. ·
Provides maintenance, interior and exterior
services |
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No. of Employees |
800 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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
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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
|
Source
: CIA |
Taigam Altai Co Ltd (Correct)
TAIGEM ALTAI CO LTD (Requested)
ADDRESS
Building : Altai Kholhou Building No. 8
Street : Engels Al Tai Street, town 13-1
Area : Bayangol District, 1st Sub District (aka 1st Khoroo)
Town : Ulaanbaatar
Country : Mongolia
Mobiles : (976 99) 119 506 (Goezinger Frank) / (976 99) 029 268
(E. Jaslan) / (976 99) 039 268 / (976 99) 049 268 /
(976 99) 909 268 / (976 99) 069 268 / (976 99) 079 268
/ (976 95) 959 268 / (976 99) 039 265 / (976 99) 029
265 / (976 99) 069 265 / (976 99) 990 633 / (976 99)
108 851
E-Mail : f.goezinger@usa.net / taigam-tsha@yahoo.com /
marketing@taigam-altai.mn / info@taigam-altai.mn
Website : www.taigam-altai.mn
Also Known As : Taigam Altai XXK / Taigam Altai LLC
Name Position
1. Davaa Surem Chairman
2. S. Sonno Vice Chairman
3. Naran Davaa Chief Executive Officer
4. E. Jaslan Sales Manager
5. Yo Naran Davaa IT Manager
6. Goezinger Frank Public Relation Manager
7. Batt Ulsi Executive Officer
Total Employees : 800 plus
No complaints have been heard regarding payments from local suppliers or banks.
We consider it is acceptable to deal with subject for LARGE amounts.
Trade risk assessment : Normal
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 :
XAC Bank
XacBank Head Quarter Building
Post Branch 20A
PO Box 72
Ulaanbaatar 14200
Telephone: (976 11) 318 185
Fax : (976 11) 328 701
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 25,000,000 - 2013 - exact
: US DLRS 30,000,000 – 2014 – projected
Net Profit : not given but stated to be profitable
Financial year ends 31 December.
Date Started : 2000
History : The Company was established in Ulaanbaatar in 2000.
Capital : not given
Limited Liability Company with the following director and shareholders :
Director
Naran Davaa
(Mongolian national)
Shareholders
1. Davaa Surem
(Mongolian national)
2. S. Sonno
(Mongolian national)
The exact shareholding percentage was not disclosed.
Affiliated companies of the Taigam Altai Co Ltd :
Subsidiaries
1. Khartsaga Kahirkhan LLC
Ulaanbaatar
Telephone: (976 99) 077 398 / (976 94) 777 398
E-Mail : bazarkhand_0210@yahoo.com
Started on 2007
Activities as follows :
- Alarm protection;
- Bodyguard for individuals;
- Protection of organization’s and company’s property;
- Security of company management, employees and residents;
- Internal organization of objects;
- Other services of security service.
2. BAU Plus LLC
Ulaanbaatar
Started on 2012
Activities : producing and introducing construction foam board and
Termoblock.
3. Shide Window LLC
Ulaanbaatar
Started on 2007
Activities : Production of plastic windows and doors.
The Company is involved in the following activities :
General building contractors.
Trading as importers and manufacturers of windows, doors, plumbing and decoration.
Provides maintenance, interior and exterior services.
NACE Codes : 4120 / 4613 / 2512
Subject main services as follows :
- Construction production and erection;
- Production of vacuum windows and doors;
- Energy;
- Security Services;
- Entertainment, media and advertisement;
- Construction system trade.
Subject built over 1600 household apartments, food market, buildings for service, office and kindergarten.
Subject’s main projects with following :
- 600 household apartments in 2013;
- 279 household apartments in March 2011, 600 household apartment in
2012;
- 357 households moved into the new apartment in “Altai” complex town
including 1000 household apartment and service center planned in
the territory of the 1st khoroo, Bayangol district of the capital
city by September 2010;
- 2 storied service and office building in the 10th khoroo,
Sukhbaatar district in 2008;
- 6 storied 48 household apartment in the 10th khoroo, Sukhbaatar
district in 2007;
- 5 storied 35 household apartment in the 10th khoroo, Sukhbaatar
District in 2004;
- 6 storied 48 household apartment in territory of the 10th khoroo,
Sukhbaatar district in 2003;
- 2 storied building of food market of Bayanzurkh district in 2002.
Imports mainly from European Countries, South Korea and China.
Subject does not export, all sales are domestic.
The Company has the following facilities :
Owned administrative offices with storage facility located at the heading address.
The Company was previously located at Altai Village, Bayanzurkh District.
Subject previously used the following telephone and fax numbers :
Telephone : (976 70) 139 268
Fax : (976 70) 139 268
You enquired on : TAIGEM ALTAI CO LTD. Please note that subject's correct registered name is as per heading.
The address given by you : Altai Villageulaanbaatar is misspelt and applies to the subject’s previous address. Please note that the current address is as per heading.
The fax number which you provided : (976 91) 19 506 is incorrect. Please note that subject does not have current fax number for the administrative office.
Interviewed : Goezinger Frank (Public Relation Manager).
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.59.72 |
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1 |
Rs.100.81 |
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Euro |
1 |
Rs.82.22 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
PDT |
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 |
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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.