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Report Date : |
15.10.2014 |
IDENTIFICATION DETAILS
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Name : |
I & R MONGOLIA CO. LTD |
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Registered Office : |
Home Plaza, Building No. 26, Office 301, Home Plaza, Building No. 26, Office 301, Bayanzurh District, 2nd Khoroo, 15-Micro District P.O. Box No.: 453, Ulaanbaatar 51 |
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Country : |
Mongolia |
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Date of Incorporation : |
27.11.2001 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as
importers, distributors and wholesalers of food products, general groceries,
perfumes and building materials. |
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No. of Employees : |
49 |
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 : |
Slow but correct |
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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.
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Source
: CIA |
I & R
Mongolia Co. Ltd (Correct)
I&R
MONGOLIA
(Requested)
Building
: Home Plaza, Building No.
26, Office 301
Street
: 4 Peace Avenue (Dorj Avenue)
Area
: Bayanzurh District, 2nd
Khoroo, 15-Microdistrict
P.O. Box No. :
453
Town
: Ulaanbaatar 51
Country
: Mongolia
Telephone
: (976 11) 458 858 / 450 681
/ Mobiles (976 99) 996 464
(Batdorj Batsuren) / (976 99) 117 653
Fax
: (976 11) 461 390
E-Mail
: amgalan@inr.mn /
onio001@yahoo.com / byambaa@inr.mn /
batsuren@inr.mn / inr@mobinet.mn
Also Known As : Ay End Ar Mongoliya XXK / I And R Mongolia Co., Ltd
/
Ay End Ar Mongoliya LLC
/ I&R MONGOLIA / I & R Mongolia LLC
Name In Mongolian: Ай
энд Эр
Монголия ХХK
Name Position
1. Mishig Enkh-Amgalan Managing Director
2. Batdorj Batsuren Deputy Managing Director
3. Batdorj Bayanbatsetseg (Ms) General
Accountant
4. Erdin Enkh-Amgalan Manager
Total
Employees : 49
No complaints have been heard regarding payments
from local suppliers
or banks.
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
: TUPBUSS CORPORATION
Building :
Rm 204, Kunshin 28/B
Street
: 250-4
Dohwa-Dong
Area
: Mapo-Ku
Town
: Seoul
Country
: South Korea
NAME
: DONGWON F & B LTD
Street
: 275
Yangjae-Dong
Area
: Seocho-Gu
Town
: Seoul
Country
: South Korea
NAME
: HAITAI CONFECTIONERY CO
LTD
Street
: 131-1,
Namyoung-Dong
Area
:
Yongsan-Ku
Town
: Seoul
Country :
South Korea
NAME
: TRADE AND DEVELOPMENT BANK
OF MONGOLIA
Branch
: Khudaldaany Gudamj 7
Town
: Ulaanbaatar
Telephone :
(976 11) 321 171
Fax
: (976 11) 325 449
Subject also has an account with the
following banks :
1. Khan Bank of Mongolia
Peace Avenue
PO
Box-185
Ulaanbaatar
Telephone : (976 11) 457 880
Fax : (976 11) 457 880
2. Golomt Bank of Mongolia
Main Branch
Bodi Tower,
Sukhbaatar Square
Ulaanbaatar
Telephone : (976 11) 311 530
Fax :
(976 11) 312 307
Private companies in Mongolia are not
required to publish or
disclose balance sheets. However, the subject
interviewed offered
the following information :
Sales Turnover :
TUGRIK 9,349,958,600 - 2012 - exact
: TUGRIK 11,640,563,300 - 2013 – exact *
: TUGRIK 4,846,600,000
- 2014 – exact **
Net Profit / (Loss) :
TUGRIK 345,501,345 - 2012 - exact
: TUGRIK
55,183,500 - 2013 - exact
: TUGRIK
(191,335,530)- 2014 – exact **
Total Value of Stock Held : TUGRIK
3,864,990,000
* Sharp increase in sales turnover in 2013
was attributed to favourable market conditions.
** 6 months results (January - June).
Financial year ends 31 December.
The following financial information applies
to Houm Plaza LLC, subject’s affiliated company :
Sales Turnover :
US DLRS 1,000,000 - 2013 - approx
Net Profit :
Not given but stated to be profitable
Financial year ends 31 December.
Date Started : 27 November 2001
History : The subject was established in
Ulaanbaatar on 27 November 2001 as a limited liability company with the
following shareholders : - Mishig Enkh-Amgalan (50%)
- Batdorj Batsuren (30%)
- Dorjbal Chuluunbat (20%).
However origins of subject's business
activities can be traced back to 27 February 2001.
In 2006, the shareholding structure changed
to the present.
Tax No.: 2691582 (issue date : 12 January
2001)
Authorised Capital : TUGRIK 301,840,000
Paid up Capital : TUGRIK 301,840,000
Limited liability company with the following
director and sole shareholder :
Directors
1. Mishig Enkh-Amgalan
(Mongolian national)
2. Batdorj Batsuren
(Mongolian national)
Shareholder
Mishig Enkh-Amgalan 100%
(Mongolian national)
Affiliated companies of I & R Mongolia Co
Ltd :
Associates
1. Houm Plaza LLC
Home
Plaza, Bldg 26, Office 307
4
Peace Avenue (Dorj's avenue)
Bayanzurh District, 15-Microdistrict, 2-Khoroo
PO
Box 453
Ulaanbaatar 51
Telephone: (976 70) 150 263 / 150 264 / 150 262 / Mobile (976 99)
997 653 (Odnoo Erdin) / (976 99) 704 314 / (976 88)
070 119
Fax : (976 11) 150 265
Est.: 2008
(Operators of supermarket)
2. Happy Mart
(Building contractors)
The Company is involved in the following
activities :
Trading as importers, distributors and wholesalers
of food products, general groceries, perfumes and building materials.
Subject's Agencies Held with the following :
- Nomin Trade;
- Minii Delguur;
- Bosa;
- Sky Shopping;
- Tushig;
- Apti;
- Bishrelt;
- TBD Anduud;
- Tenger;
- Nomin Zereglee;
- KCC, South Korea.
Subject’s main brands and products are as
follows :
- Paldo / Korea Yakult : Ramion &
beverage;
- Ottogi : Ramion & Mayonnaise;
- Dongush : Russian dosirack;
- Orion : Snack;
- Paldo vina / Vetnam : Ramion;
- Metro / Germany : Foods.
NACE Codes : 4617 / 4634
Imports from South Korea, Russia, Vietnam and
Germany.
Subject does not export, all sales are
domestic.
The Company has the following facilities :
Owned premises comprising administrative
offices and storage facilities located at the heading address.
Until September 2007, subject was located :
Bridge Plaza, Offices No. 403 & 403
Ulaanbaatar.
You enquired on : “I&R MONGOLIA”. Please note that subject is also known by this name. Subject's correct
registered name is as per heading.
Interviewed : Batdorj Batsuren (Deputy
Managing Director).
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.11 |
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1 |
Rs.98.15 |
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Euro |
1 |
Rs.77.60 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
NIT |
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.