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Report Date : |
20.09.2014 |
IDENTIFICATION DETAILS
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Name : |
ARIMA MEDICAL LLC |
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Formerly Known As : |
ARIMA MEDICAL XXK / ARIMA MEDICAL COMPANY |
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Registered Office : |
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Country : |
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Date of Incorporation : |
May, 2013 |
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Com. Reg. No.: |
9011373010 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as importers, wholesalers and distributors of ophthalmic and optometric products. |
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No of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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 01, 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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate 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.
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Source
: CIA |
Arima
Medical LLC (Correct)
ARIMA
MEDICAL (Requested)
Building : Flowers Town Building 46B-1-3
Area : Khan Uul District, 11th Khoroo
Town : Ulaanbaatar
Country : Mongolia
Telephone : (976 70) 101 098 / Mobiles (976 99) 102 617 (A. Bolor) / (82 90) 1269 2129 (Enkhchuluun Ya)
E-Mail : bolor@arima-medical.mn / bolor.arimamedical@gmail.com
Also Known As : Arima Medical XXK / Arima Medical Company
Name
Position
1. Enkhchuluun Ya Chief Executive Officer
2. A. Bolor (Mrs) General Manager
Total Employees: 10
No trade experience of payments is available.
Subject is a newly established company incorporated in May 2013.
Opinion on maximum credit : As the company has recently commenced
production and has no financial or
payment track record, we recommend
dealing on fully secured terms
Trade risk assessment : High (see above comments)
It is normal accepted practice for international suppliers to deal on secured terms with Mongolian importers.
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
As the Subject has only recently commenced production, relevant financial information is not available.
Date Started : May 2013
History : The Company was established in Ulaanbaatar in May 2013.
C.R. No. : 9011373010
Tax No. : 5634458 (issue date : 22 October 2013)
Capital : not given
Limited Liability Company with the following directors and sole shareholder :
Directors
1. Enkhchuluun Ya
(Mongolian national)
2. A. Bolor (Mrs)
(Mongolian national)
Shareholder
Enkhchuluun Ya 100%
(Mongolian national)
The Company is involved in the following activities :
Trading as importers, wholesalers and distributors of ophthalmic and optometric products.
NACE Code : 4646
Imports mainly from Japan.
Subject does not export, all sales are domestic.
The Company has the following facilities:
Rented administrative offices with storage facilities located at the heading address.
You enquired on : “ARIMA MEDICAL”. Please note that subject's correct registered name is as per heading.
The address given by you : BLDG 46B-1-3, FLOWERS TOWN 11TH KHOROO KHAN-UNL DISTRICT is misspelt. Please note that the correct spelling is as per heading.
Interviewed : A. Bolor (Mrs) (General Manager).
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.81 |
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UK Pound |
1 |
Rs.100.06 |
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Euro |
1 |
Rs.78.47 |
INFORMATION DETAILS
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Analysis Done by
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SUB |
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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.