|
Report No. : |
318592 |
|
Report Date : |
29.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
BAYASAKH TRADE CO LTD |
|
|
|
|
Registered Office : |
Bayasakh Group Building, Namyanju Street, Bayanzurkh District, 14 Khoroo, P.O. Box No.: 44 / Ulaanbaatar-431, Ulaanbaatar 13370 |
|
|
|
|
Country : |
Mongolia |
|
|
|
|
Date of Incorporation : |
25.03.1999 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
· Trading as Importers, Wholesalers and Distributors of Foodstuff and Building Materials. · Operators of Agricultural Farms. |
|
|
|
|
No. of Employees : |
140 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limits : |
TUGRIK 600,000,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Mongolia |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 (FDI). 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 strong economic growth because of market reforms 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. 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 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
2014, Mongolia purchased nearly 90% of its gasoline and diesel fuel from
Russia. A drop in FDI has put pressure on Mongolia's external finances.
Remittances from Mongolians working abroad, particularly in South Korea, are
significant.
|
Source
: CIA |
CO. NAME :
BAYASAKH TRADE CO LTD (Correct)
BAYASAKH
TRADE CO LTD (BAYASAKH KHULIY CO LTD) (Requested)
Building
: Bayasakh
Group Building
Street
: Namyanju
Street
Area
: Bayanzurkh
District, 14 Khoroo
P.O. Box No. :
44 / Ulaanbaatar-431
Town
: Ulaanbaatar
13370
Country
: Mongolia
Telephone
: (976 70) 001
010 / (976 11) 462 226 / Mobiles (976 99)
114 857 / 143 367
Fax
: (976 11)
462 227
E-Mail
:
bayasakh@bayasakh.mn / nomindari@bayasakh.mn /
Info@bayasakh.mn / battsetseg@bayasakh.mn
Website
:
www.bayasakh.mn
Also Known As : Bayasakh Trade Co Ltd (Bayasakh Khuliy Co Ltd) /
Bayasakh
Trade LLC / Bayasakh Trade XXK
Name Position
1. Densmaa Batbold Managing Director
2. Uyengee Nomindari (Mrs) Foreign
Relations Manager
Total Employees: 140
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.
Opinion on maximum credit : TUGRIK
600,000,000
Trade risk assessment : Normal
NAME
: TRADE AND DEVELOPMENT
BANK OF MONGOLIA
Branch
: Khudaldaany gudamj-7
Town
: Ulaanbaatar-11
Telephone :
(976 11) 321 171
Fax
: (976 11) 325 449
The company also has an account with :
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 3,000,000,000 – 2014 - exact
Net Profit :
Not given but stated to be profitable
Financial year ends 31 December.
Date Started : 25 March 1999
History : Subject was established in
Ulaanbaatar on 25 March 1999, however origins of subject's business activities
can be traced back to 1993.
Tax Card No.: 2570394 (issue date : 5 January
2001)
Capital : not given
Limited Liability Company with the following
sole shareholder :
Densmaa Batbold 100%
(Mongolian national)
Affiliated companies of the Bayasakh Trade Co
LTD:
Subject is a member of the Bayasakh Group of
Companies, Mongolia, which also includes the following companies :
1. Bayasakh Urguu Co., Ltd
Ulaanbaatar
Retail Sales through Supermarkets
2. Bayasakh Atlas Co., Ltd
Ulaanbaatar
Construction
Materials Sales
3. Bayasakh Foods Co., Ltd
Ulaanbaatar
Food
Manufacturing
4. Bayasakh Building
Ulaanbaatar
Investment, construction
5. Naran Zug Co., Ltd
Ulaanbaatar
Agriculture
6. Bayasakh Standard Co., Ltd
Ulaanbaatar
Food
Manufacturing
The Company is involved in the following
activities :
Trading as importers, wholesalers and
distributors of foodstuff and building materials.
Operators of agricultural farms.
Subject's main
suppliers are as follows :
- Kowar ZPS;
- Jutrzenka
colian Sp. z o.o.;
- Agros Nova
Sp. z o.o.;
- Jamar ZPS
from Poland;
- Borjomi
from Georgia;
- Sweets of
Oman and Nabils Biscuits from Oman.
NACE Code: 4617
Imports from Poland, Germany, Georgia,
Russia, Oman and Argentina.
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 as well as agricultural farms located
elsewhere in Mongolia.
Chingelte District
You enquired on : “BAYASAKH TRADE CO LTD
(BAYASAKH KHULIY CO LTD)”. Please note that subject
is also known by this name. Subject's correct registered name is as per
heading.
Interviewed: Uengee Nomindari (Foreign
Relations Manager).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.33 |
|
|
1 |
Rs.96.52 |
|
Euro |
1 |
Rs.68.93 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
|
|
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.