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Report Date : |
02.10.2014 |
IDENTIFICATION DETAILS
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Name : |
OMBOL LLC |
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Registered Office : |
Building: |
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Country : |
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Date of Incorporation : |
23.08.2004 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as importers, wholesalers and distributors of pharmaceutical products and medical equipment. |
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No of Employees : |
30 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Mongolia |
C1 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
CO. NAME: OMBOL LLC (Correct)
OMBOL
CO LTD (Requested)
OMBOL LLC
Building:
Mongol News Building, Section B
Street : Junichin Street 18
Area : Chingeltei District, 3rd Khoroo
Town : Ulaanbaatar 15172
Country : Mongolia
Telephone:
(976 11) 316 428 / Mobiles (976 99) 090 732 (Munkhdelger Byambaa) / (976 99) 654 461
Fax : (976 11) 310 293
E-Mail : sanalaa@gmail.com / ombolpharma@gmail.com
Trading
Style : Ombol Pharma
Also
Known As : Ombol Co. Ltd /
Ombol XXK
Name
Position
1.
Munkhdelger Byambaa
Director / Import Manager
2.
Tumurbat Chimbat
Administrator
Total
Employees : 30 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. It is normal
accepted practice for international suppliers to deal on secured terms with Mongolian importers.
Trade
risk assessment: Normal
NAME : TRADE & DEVELOPMENT BANK OF MONGOLIA
Branch : Hudaldaany street-7
Area : Baga toiruu-12
Town : Ulaanbaatar
Telephone:
(976 11) 331 133 / 326 289
Fax : (976 11) 325 449 / 328 231
The
company also has an account with :
The
Bank of Mongolia (Central Bank)
Baga
Toiruu 9
Chingiltei
District
Ulaanbaatar-46
Telephone: (976 11) 310 413 / 323 391 / 310 912 / 324
340 / 313 801
Fax :
(976 11) 311 471
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 2,600,000 -
2013 - exact
: US DLRS 3,000,000
- 2014 - projected
Net
Profit : US DLRS 60,000 - 2013 - exact
Financial
year ends 31 December.
Date
Started : 23 August 2004
History
: The subject was established in Ulaanbaatar on 23 August 2004.
Tax
No.: 2844265 (issue date : 6 July 2005)
C.R.
No.: 9011062054
Capital
: not given
Limited
Liability Company with the following director and shareholders :
Director
Munkhdelger
Byambaa (Mrs)
(Mongolian
national)
Shareholders Percentage
1. Munkhdelger
Byambaa (Mrs)
25%
(Mongolian national)
2.
Tumurbat Chimbat 25%
(Mongolian national)
3.
Sireen Notmed
25%
(Mongolian national)
4.
Naraan Baatar 25%
(Mongolian national)
The
Company is involved in the following activities:
Trading
as importers, wholesalers and distributors of pharmaceutical products and
medical equipment.
Subject’s main brands are as
follows:
-
Stada;
-
Laoken;
-
Klab;
-
Lavena;
-
Shreya;
-
Sopharma;
-
Yaopharma;
-
Denk Pharma.
NACE
Code : 4618 / 4669
Imports
from Germany, Russia and India.
Subject
does not export, all sales are domestic.
The
Company has the following facilities :
Rented
administrative offices and storage facilities located at the heading address as
well as 6 representative offices located throughout Ulaanbaatar.
You
enquired on : “OMBOL CO LTD”. Please note that subject is also known by this
name. Subject's correct registered name is as per heading.
The
address given by you : Mongol Newa Building is misspelt. Please note that the
correct spelling is as per heading.
Interviewed: Munkhdelger Byambaa (Director / Import
Manager).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.75 |
|
|
1 |
Rs.100.07 |
|
Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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|
|
|
Report Prepared
by : |
TPT |
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 |
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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 |
|
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.