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Report Date : |
24.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
MONOS PHARMA TRADE LLC |
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Registered Office : |
Chingunjav Street 71/3, Ulaanbaatar 210526 |
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Country : |
Mongolia |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
13.03.2002 |
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Com. Reg. No.: |
9011022059 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as importers, wholesalers and retailers of medicines, medical devices, medical equipment, vaccines, bio preparations, cosmetics, diagnostic materials, patient care products, child and maternity care items and biologically active additional nutrition. |
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No of Employees : |
280 (subject) 1,300 plus (group) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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 – September 30, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 |
Monos Pharma Trade LLC
Building : Monos Pharma Building
Street :
Namyanju Street
Area :
18th Khroo, Bayanzurkh District
Town :
Ulaanbaatar 210348
Country :
Mongolia
Telephone : (976 11) 450 054 ext. 111 (Legal
Advisor) / 450 127 / 453
954 / Mobiles (976 99) 090 832 (Ariunzaya
Choij) / (976
88) 106 431 (Tamir Bayasgalan) / (976 96)
657 181 / (976
99) 116 431 / (976 88) 090 088 / (976 99)
175 223
Fax :
(976 11) 463 158
E-Mail :
monostrade@mongol.net / ariunzaya.choij@monos.mn /
monostrade@monos.mn / tamir@monos.mn
Website :
www.monos.mn
Also Known As : Monos Pharm
Trade LLC / MonosFarm Treyd OOO / Monosfarm Treyd XXK
Name Position
1. Khurelbaatar Lupsan Chairman
2. Ariunzaya Choij Senior
Manager of Pharmaceutical Product Division
3. Tamir Bayasgalan Foreign Affairs Business Trade & Development
4. Bayanmunkh Ganpurev Vice
Director
5. Uyanga Bandii Group Administrative Manager
6. Tuya Baasanjav Chief Accountant
7. Mrs Enkhtuya Legal Advisor
8. Ms M. Baterdene Senior Manager
9. Ms Lkhagvajav
Batzorig Procurement Officer
Total Employees : 280 (subject)
1,300 plus (group)
No complaints have been
heard regarding payments from local suppliers or banks.
Subject is a member of the
Monos Group of companies was established in 1990. Monos Group has 16 years
history and 10 affiliated companies, cooperates with 50 companies from 30
countries in the worldwide. Monos Group have more than 1,300 workers.
We consider it is
acceptable to deal with subject for MEDIUM amounts, although it is normal
accepted practice for international suppliers to deal on secured terms with
Mongolian importers.
Trade risk assessment :
Normal
NAME :
ACTAVIS INTERNATIONAL LIMITED
Street :
Industrial Estate B, 16
Town :
Zejtun
Country :
Malta
Email :
gtenchov@actavis.bg
Contact :
GeorgyTenchov, Regional Manager
NAME :
KRKA
Street :
Smarjeska c.6
Town :
Novo mesto
Country :
Slovenija
Telephone :(386 1) 475 1261
Email :
gorazd.strajnar@krka.biz
Contact :
Mr.Gorazd Strajnar, Deputy Director
NAME :
DENK PHARMA GmbH & Co. KG
Street :
Prinzregentenstr.79
Town :
Muenchen 81675
Country :
Slovenija
Telephone : (49 894) 574 7260
Email :
Alexander.Lenk@denkpharma.de
Contact :
Mr. Alexander Lenk, Export Manager
NAME :
Bayer Schering Pharma AG
Town :
Berlin 13342
Country :
Germany
Telephone : (7 727) 258 8040 (int. 139)
Email :
maya.dumanova@bayerhealthcare.com
Contact :
Ms.Maya Dumanova. Logistics specialist for Central Asia
NAME :
SANOFI WINTHROP INDUSTRIE
Street :
Avenue Raspail 82
Town :
Gentilly 94250
Region :
Cedex
Country :
France
Email :
varvara.berseneva@sanofi-aventis.com
Contact :
Ms. VarvaraBerseneva, Customer Service Manager
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
Acc. No. : 453000729 (EUR)
Acc. No. : 453008016 (USD)
SWIFT :
TDBM MN UB
The company also has an
account with the following banks :
1. Golomt Bank of Mongolia
Sukhbaatar Square 3
PO Box 22
Ulaanbaatar 210620A
Telephone :
(976 11) 311 530
Fax
: (976 11) 326 535
2. Khan Bank
Seoul Street 25
Sukhbaatar District
Ulaanbaatar
Telephone :
(976 11) 332 333
Fax
: (976 70) 117 023
3. Khas Bank
Sukhbaatar district
Ulaanbaatar 14200
Telephone :
(976 11) 318 185
Fax
: (976 11) 328 701
4. Zoos Bank
Baga Toiruu Street 7/1
Chingeltei District
Ulaanbaatar 210644
Telephone :
(976 11) 322 244
Fax
: (976 11) 329 537
Ernst & Young Mongolia
Audit LLC
Suite 401
4th Floor Bodi Tower
Sukhbaatar Square
Ulanbaatar, Mongolia
Telephone : (976 11) 314 032 / 312 005
Fax :
(976 11) 312 042
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 16,835,025 - 2009 - exact
: US DLRS 16,431,383 -
2010 - exact
: US DLRS 19,430,000 -
2011 - exact
: US DLRS 35,000,000 - 2012 – exact *
: US DLRS 40,000,000 -
2013 – exact *
: US DLRS 45,000,000 -
2014 – projected ***
Net Profit : US DLRS 3,125,960 - 2009 - exact
: US DLRS 2,387,019 - 2010 - exact
: not given - 2011
: US DLRS 3,500,000 - 2012 - exact
: US DLRS 2,000,000 - 2013 - exact **
: US DLRS 2,225,000 - 2014 - projected
* Sharp increase in sales
turnover in 2012 & 2013 was attributed to favourable market conditions.
** Decrease in net profit
in 2013 was due to unfavourable market
conditions.
***
Projected increase in sales turnover in 2014 is due to favorable market
conditions.
Financial year ends 31
December.
Balance Sheets as at
31.12.2009 (latest available) showed :
31.12.2007 31.12.2008 31.12.2009
(in thousands of
TUGRIK)
NON
CURRENT ASSETS
Property.plant
and equipment 2,864,079.0 4,830,912.1
4,939,073.3
Intangible
assets 19,675.0 12,812.7 600.0
Investment
in subsidiary - -
Subtotal
non-current assets 2,883,754.0 4,843,724.8
4,939,673.3
CURRENT
ASSETS
Inventories 4,272,326.0 6,398,286.1
6,335,707.8
Trade
receivables 1,955,447.0 3,125,960.9
2,211,005.6
Other
receivables, prepayments1,928,742.0
1,423,009.4 1,158,985.6
Amounts
due from related 1,556,927.0 814,082.5
1,540,253.8
companies
Cash and
bank balances 995,687.0 229,963.4 245,757.6
Subtotal
current assets 10,709,129.0 11,991,302.3
11,491,710.5
TOTAL
ASSETS 13,592,883.0 16,835,027.1
16,431,383.8
LIABILITIES
& EQUITY
EQUITY
Share
capital 587,930.0 587,930.4 587,930.4
Revaluation
reserve - 1,938,216.6
1,967,450.4
Retained
earnings 5,312,479.0 5,407,985.5
5,769,287.0
Subtotal
equity 5,900,409.0 7,934,132.5
8,324,667.8
LONG-TERM
DEBT
- -
CURRENT
LIABILITIES
Interest
bearing loans 3,164,892.0 6,147,679.1
5,212,500.0
and
borrowings
Trade
payables 1,441,077.0 1,692,263.2
2,387,019.7
Other
payables 2,438,821.0 240,398.4 471,651.8
Amounts
due to related 647,418.0 754,453.2 23,642.5
companies
Tax
payable
266.0 66,100.7 11,902.0
Subtotal
current liabilities 7,692,474.0 8,900,894.6
8,106,716.0
TOTАL
LIABILITIES & EQUITY 13,592,883.0
16,835,027.1 16,431,383.8
Financial year ends 31 December.
Profit and loss account as at 31 December 2008 * :
2008 2007
(In thousands Of Tugrik)
Revenue 24,097,459 18,887,148
Cost of sales 18,394,291 14,176,981
Gross profit 5,703,168 4,710,167
Administrative expenses 3,456,511 2,001,031
Other expenses 854,252 480,837
Other income 1,288,860 142,842
Finance cost 699,658 314,271
Profit before taxation 1,981,608 2,056,870
Taxation 290,459 235,114
Net profit for the year 1,691,608 1,821,756
Financial year ends 31 December.
* Full 2009, 2010, 2011 and 2012 financial results have not been made available to our sources.
Date Started : 13 March 2002
History : The Company was
established in Mongolia on 13 March 2002, however origins of its
business activities can be traced back to 1990.
C.R. No. : 9011022059
Tax No. : 2670712
Authorised Capital : TUGRIK 587,930,000
Paid-Up Capital : TUGRIK 587,930,000
Limited Liability Company
with the following shareholders :
Percentage
1. Khurelbaatar Lupsan 47%
(Mongolian national)
2. Ms Erdenechimeg
Lupsan 33%
(Mongolian national)
3. Solongo Khurelbator 20%
(Mongolian national)
Affiliated companies of
Monos Pharma Trade LLC :
Subject
is a subsidiary of Monos Group, Mongolia :
Monos Group LLC
Monos Group LLC Building
Choimbol Street
Chingeltei District
Telephone : (976 11) 315 908
Fax : (976 11) 320 967
e-Mail : info@monos.mn
Website : www.monos.mn
Which
also includes the following companies :
1. Monos Household Co. Ltd
Chingunjav Street 71/3
Bayangol District
Ulaanbaatar
Telephone :
(976 11) 326 089
Fax
: (976 11) 326 089
2. Monos
Cosmetics Co., Ltd
Sonsgolon Toiruu 5
Songinokhairkhan District 20
Ulaanbaatar 211137
Telephone :
(976 11) 633 257
Fax
: (976 11) 633 257
E-mail
: info@monoscosmetics.mn /
cosmetics@monos.mn
Website
: www.monoscosmetics.mn
3. Monos-ABC
Co., Ltd
Kharaa Hotel
Chingeltei District 2
Ulaanbaatar
Telephone :
(976 11) 311 336
Fax
: (976 11) 311 336
E-mail
: Monosabc@mongol.net
4. Monos
Research Center
Sonsgolon Toiruu 5
Songinokhairkhan District 20
Telephone :
(976 11) 633 107
Fax
: (976 11) 633 117
E-mail
: monospharma@mongol.net
5. Computer
Tomography
Bayangol District
P.O.B 26
Ulaanbaatar
Telephone :
(976) 9979 8990
E-mail
: monospharma@mongol.net
6. Monos pharma
Co., Ltd
Sonsgolon Toiruu 5
Songinokhairkhan District 20
Telephone :
(976 11) 633 107
Fax
: (976 11) 633 117
E-mail
: monospharma@mongol.net /
pharma@monos.mn
Tax No. :
99771185
7. Monos Ulaanbaatar
Co., Ltd
Chingeltei District 2
Ulaanbaatar 210526
Telephone :
(976 11) 315 908
Fax
: (976 11) 315 908
E-mail
: monostrade@mongol.net
8. Monos San
Co., Ltd
Chingunjav Street 9
2th Khoroo
Bayangol District
Ulaanbaatar 210526
Telephone :
(976 11) 361 419 / 305 390
Fax
: (976 11) 361 419
E-mail
: monostrade@mongol.net
9. Monos University
Sonsgolon Toiruu 5
Songinokhairkhan District 20
Ulaanbaatar 211137
Telephone :
(976 11) 633 235
Fax
: (976 11) 633 235
10.Magic of Health Magazine
Chingeltei District 2
Ulaanbaatar 210526
Telephone :
(976 11) 322 996
Fax
: (976 11) 325 639
E-mail
: monostrade@mongol.net /
uvdis@yahoo.com
The Company is involved in
the following activities :
Trading as importers,
wholesalers and retailers of medicines, medical devices, medical equipment,
vaccines, bio preparations, cosmetics, diagnostic materials, patient care
products, child and maternity care items and biologically active additional
nutrition.
Subject distributes through
the 5 wholesale centres in Ulaanbaatar and 21 local branches in countryside and
supplies 40% of Mongolian pharmaceutical market.
NACE Codes : 4646 / 4645
The company acts as an
official distributor of following domestic and foreign companies :
- Schering;
- Denkpharma;
- Berlin-Chemie;
- RotexMedica;
- Falkpharma (Germany);
- Sanofi-aventis;
- Bio-Rad (France);
- Sopharma;
- Kendy (Bulgaria);
- Gedeon Richter (Hungary);
- KRKA (Slovenia);
- Terapia (Romania);
- Bayer Schering Pharma AG;
- DENK PHARMA GmbH &
Co. KG;
- Ferein-Brinsalov;
- Otechestvennie Lekarstva;
- Irbitskii HFK;
- Endopharma;
- Altaivitaminy (Russia);
- Jelfa (Poland);
- Medochemie (Cyprus);
- Chiron-Vaccines (Italy);
- Himedia (India);
- Brystol Myers Squibb
(USA);
- ICN (Switzerland);
- Hospital & Home Care;
- Meheco Jiangsu Medicines;
- Health Products (China).
Imports from Russia, USA,
Germany, Netherlands, Switzerland, Poland, Slovenia, Bulgaria, Hungary, France,
India, South Korea, China, Japan, Vietnam, Austria, Thailand and Malaysia.
Subject does not export,
all sales are domestic.
The Company has the
following facilities :
Owned administrative
offices, a retail outlet and storage facilities located at the heading address
as well as 3 warehouse facilities including logistic centre located at in
Mongolia as well as 21 local branches in countryside (see ‘Branch Office’
below).
Chingunjav Street 71/3
Ulaanbaatar 210526
Warehouse Unit
37 Sonsgolon Toituu 20th
Khoroo
Songinokhairkhan District
62
Ulaanbaatar 211137
Interviewed : Tamir
Bayasgalan (Foreign Affairs Business Trade & Development).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 58.48 |
|
|
1 |
Rs. 98.67 |
|
Euro |
1 |
Rs. 79.80 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
DPT |
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.