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Report Date : |
05.11.2014 |
IDENTIFICATION DETAILS
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Name : |
ASIA PHARMA CO. LTD |
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Registered Office : |
Grand Plaza Building 11 floor, Office 1105 2nd
Khoroo / Enkhtaivany Gud 8 Bayangol District Ulaanbaatar 210280 |
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Country : |
Mongolia |
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Date of Incorporation : |
15.01.2002 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as importers, wholesalers and
retailers of pharmaceuticals. |
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No. of Employees : |
200 |
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 – June 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Mongolia |
C1 |
B2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
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 |
COMPANY
NAME : ASIA PHARMA CO. LTD
Building : Grand Plaza Building 11 floor, Office 1105
Street : 2nd
Khoroo / Enkhtaivany Gud 8
Area
: Bayangol
District
Town : Ulaanbaatar
210280
Country : Mongolia
Telephone: (976 70) 117 112 / 111 887 / (976 11) 330 570 / Mobile
(976 88) 118 779 / (976 99) 001 121
(Bayarjargal Gungaa) /
(976
88) 282 262 / (976 95) 549 979
Fax : (976
70) 127 122
E-Mail :
togoo@asiapharma.mn / tungalag@asiapharma.mn /
info@asiapharma.mn / asiapharma@mongol.net /
bayar@asiapharma.mn
Website : www.asiapharma.mn
Shortform Name : AP
Trading Style : Asia Pharma
Also Known As : Asiapharma LLC / Azi-Farma XXK /
Aziyafarma XXK /
Asia Pharma LLC
Name Position
1. Mrs. Tungalag Tsetsen Managing Director
2. Ms. Munkhdalai Togoo Import Manager
3. Ms. Bolor Administrator
Total Employees : 200
No complaints have been heard
regarding payments from local suppliers or banks.
We consider it is acceptable to deal
with subject for MEDIUM amounts, however in view of the lack of financial
information we recommend international suppliers exercise a degree of
caution.
Trade risk assessment : Normal
It is normal accepted practice for
international suppliers to deal on secured terms with Mongolian importers.
NAME : GOLOMT
BANK OF MONGOLIA
Branch : Main
Branch
Street :
Sukhbaatar Square 3
Town : Ulaanbaatar
Telephone: (976 11) 311 530 / 311 971
Fax : (976
11) 311 958 / 312 307
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.
The following financial information is
the latest available on the
subject :
Sales Turnover : US DLRS 2,000,000 - 2008 - exact
: US DLRS 4,500,000 -
2009 - exact
: US DLRS 7,500,000 -
2010 - exact
: US DLRS 8,000,000 -
2011 – approx.
Net Profit : not given but stated to be
profitable
Financial year ends 31 December.
Date Started : 15 January 2002
History : The subject was established in Mongolia on 15
January 2002.
Tax No. : 2697289 (issue date : 7 January
2003)
Authorised Capital : US DLRS 2,000,000
Paid-Up Capital : US DLRS 2,000,000
Limited Liability Company with the
following director and shareholders :
Director
Mrs. Tungalag Tsetsen
Shareholders
Percentage
1. Mrs. Tungalag Tsetsen 50%
(Mongolia national)
2. Bayarjargal Gungaa 50%
(Mongolia national)
The Company is involved in the
following activities :
Trading as importers, wholesalers and
retailers of pharmaceuticals.
Subject owns and operates pharmacies
under the name “Azi Pharma”.
Distributors for Akrikhin (Russia),
Actavis (Bulgaria), Altaivitamin (Russia), Astellas (Japan), Asia-Trade (South
Korea), Bayer Schering Pharma (Germany), Bayer Consumer Care (Germany), Beijing
Zi Zhu (China), Berlin-Chemie (Germany), Belmedpreparaty (Belarus), Buryat-Farm
(Russia), Veropharm (Russia), Gedeon Richter (Hungary), Glaxo Smith Kline (UK), Dalhimfarm (Russia), Denk
Pharma (Germany), Jiangsu Jichun Medical Devices (China), Irbitsky Chemical
Pharmaceutical Industry (Russia), KRKA (Slovenia),
Kraspharma (Russia), Care (South Korea), Lek (Slovenia), Novartis
(Switzerland), Medi-Green (South Korea), Medial D&P/ Mepha (Switzerland),
Moshimpreparaty (Russia), Nycomed (Austria), Panaceabiotec (India), Parthner
(Russia), Polfa Adalan (Poland), Polpharma (Poland), Polisan (Russia), Pugang
Pharmaceutic (North Korea), Sanofi-Aventis (France), Sintez (Russia),
Stekloprobor (Russia), Tianjin (China), Hwajin Medical (South Korea), Herbion
(Pakistan), Stada (Russia), Shin Poong (South Korea), Eli Lilly (USA), Emoun
(Egypt), Umedica (India) and Unipharm (USA).
NACE Code : 4646
Imports from Russia, South Korea,
Germany, China, Poland, USA, Malaysia, India, Slovenia and Switzerland.
Subject does not export, all sales are
domestic.
The Company has the following
facilities :
Rented premises comprising
administrative office located at the heading address as well as 5 wholesale
outlets and several pharmacies located elsewhere in Ulaanbaatar (see 'Branch
Offices' below).
Until 2011, subject’s administrative
office address was located at :
22-23 Building
50 Myangat 4th Khoroo
Bayangol District
Ulaanbaatar
2nd Khoroo / Enkhtaivany Gud 8
Bayangol District
Ulaanbaatar 210280
1. Building No. 19, 50 Myangat, Khoroo
4,
Chingeltei district
Ulaanbaatar
Telephone: (976 11) 321 009
2. Building 5B, Micro district 6,
Bayangol district
Ulaanbaatar
Telephone: (976 70) 107 181
3. Khoroo 4, Sukhbaatar district,
Myangat 50
Ulaanbaatar
Telephone: (976 11) 326 587 / 330 570
4. Myangat 50, Khoroo 2,
Chingeltei district
Ulaanbaatar
Telephone: (976 70) 125 440 / 125 441
5. Misheel center
Ulaanbaatar
Telephone: (976 11) 342 088
6. Khoroo 4, Sukhbaatar district
Ulaanbaatar
Telephone: (976 11) 331 923
7. Sukhbataar District
Ulaanbaatar
Telephone: (976 11) 321 009
8. Bayangol District, 10th
Khoroolol, 5b
Ulaanbaatar
Telephone: (976 11) 689 723
9. Sukhbataar District, 8th
Khoroo, 29
Ulaanbaatar
Telephone: (976 70) 137 112
10.Azi Farma 5
1st
Khoroo, Tokiogiyn Gudamzh, 26a bayrny 1st Davhar, 3rd
Block
Bayanzurkh District
Ulaanbaatar
Telephone: (976 11) 462 668
11.Azi
Farma 6
8th Khoroo, Sonor Plaza
Sukhbataar
District
Ulaanbaatar
Telephone: (976 70) 127 112
12.Azi Farma 7
13th Khoroo
Bayangol District
Ulaanbaatar
Telephone: (976 70) 127
113
13.Azi Farma 8
16th Khoroo, 16th Khoroolol
Bayanzurkh District
Ulaanbaatar
Telephone: (976 70)155 440
Interviewed : Ms. Bolor
(Administrator).
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.41 |
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|
1 |
Rs.98.06 |
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Euro |
1 |
Rs.76.67 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIS |
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.