MIRA INFORM REPORT
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Report No. : |
315471 |
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Report Date : |
06.04.2015 |
IDENTIFICATION DETAILS
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Name : |
TAVAN ORD LLC |
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Formerly Known As : |
TAVAN ORD CO. LTD TAVAN ORD XXK |
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Registered Office : |
City Center, 10th Floor, Room 1001 Street Altangerel B5 Sukhbaatar District, P.O. Box No.: 1604 Ulaanbaatar 14200 |
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Country : |
Mongolia |
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Date of Incorporation : |
1998 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as importers, wholesalers and distributors of building
materials and fire safety equipment. |
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No. of Employee : |
10 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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Mongolia |
B2 |
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 |
Company
name
TAVAN ORD LLC
ADDRESS
Building : City Center, 10th
Floor, Room 1001
Street : Street Altangerel
B5
Area :
Sukhbaatar District
P.O. Box No. : 1604
Town : Ulaanbaatar 14200
Country : Mongolia
Telephone : (976 70) 121 001 /
Mobiles (976 99) 075 787 / (B.
Eruult) / (976 99) 061 496 / (976 99) 093
441
Fax : (976 70) 121
001 / (976 50) 040 101
E-Mail : info@tavanord.mn
/ tavanord@yahoo.com
Website : www.tavanord.mn
Also
Known As
Tavan Ord Co. Ltd / Tavan Ord XXK
SENIOR
COMPANY PERSONNEL
Name Position
1. Ts. Bayarsaikhan
Managing Director
2. B. Eruult Manager
3. Ochirdar Sodnom Manager
4. Uuganbayar Gantumur IT Engineer
Total Employees : 10 plus
PAYMENTS
No complaints have been heard regarding payments from local suppliers or
banks.
We consider it is acceptable to deal with subject for SMALL amounts,
however in view of the lack of financial information we recommend international
suppliers exercise a degree of caution. Although it is normal accepted practice
for international suppliers to deal on secured terms with Mongolian importers.
Trade risk assessment: Normal
PRINCIPAL
BANKER
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
FINANCIAL
INFORMATION
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.
LEGAL
STATUS AND HISTORY
Date Started : 1998
History :
Subject was established in Ulaanbaatar in 1998.
Tax No. :
2635283 (issue date : 6 October 2005)
Capital :
not given
Limited Liability Company with the following sole shareholder :
Ts. Bayarsaikhan 100%
(Mongolian national)
ACTIVITIES
The Company is
involved in the following activities :
Trading as importers, wholesalers and distributors of building materials
and fire safety equipment.
Subject provides
the following services :
- Installation, maintenance and repair of fire alarm and fire
suppression system;
- Fire risk assessment;
- Installation, maintenance and repair of fire alarm system;
- Fire safety training;
- Installation, maintenance and repair of fire ventilation system.
Subject's main
products are as follows :
- Fire extinguishers;
- Firefighting tools;
- Fire protection coating;
- Fire signs;
- Fire alarm system;
- Smoke and heat detectors.
NACE Codes: 4613 / 4614
Imports are worldwide.
Subject does not export, all sales are domestic.
FACILITIES
The Company has
the following facilities :
Rented premises comprising administrative offices located at the heading
address as well as a warehouse unit located elsewhere in Ulaanbaatar.
SPECIAL
NOTES
The Postal code number which you provided: 14000 is incorrect. Please
note that subject's correct postal code number is as per heading.
Interviewed : Subject's employee.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.59 |
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1 |
Rs.92.46 |
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Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
ANK |
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.