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Report No. : |
335777 |
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Report Date : |
14.08.2015 |
IDENTIFICATION DETAILS
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Name : |
PERFFECTCON LLC |
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Registered Office : |
Basarkhan Building, Chingeltei District, 5th
Khoroo, Ulaanbaatar |
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Country : |
Mongolia |
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Date of Incorporation : |
09.10.2001 |
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Com. Reg. No.: |
9011173143 |
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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, equipment and its spare parts. |
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No. of Employees : |
50+ |
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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Maximum Credit Limit : |
TUGRIK 40,000,000 |
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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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 (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 emerged from the crisis with a stronger banking sector
and needed reforms to the government’s fiscal management. In October 2009,
Mongolia passed long-awaited legislation on an investment agreement to develop
the Oyu Tolgoi (OT) mine, considered to be among the world's largest untapped
copper-gold deposits. However, Mongolia's ongoing dispute with foreign
investors developing Oyu Tolgoi has called into question the attractiveness of
Mongolia as a destination for foreign investment. This caused a loss of
investor confidence, a severe drop in FDI, and a slowing economy, leading to
the dismissal of Prime Minister ALTANKHUYAG in November. The new government has
made restoring investor trust and reviving the economy its top priority, but it
will be challenged to unwind the monetary and fiscal stimulus programs in use
since 2013 to counteract the fall in foreign investment. In December 2014 the
government awarded a deal to develop the massive Tavan Tolgoi (TT) coal field
to a consortium comprising Energy Resources/MCS (Mongolia), Shenhua (China),
and Sumitomo (Japan); talks continue to hammer out the financing and the
operating details. The economy grew more than 10% per year since 2010, largely
on the strength of commodity exports to nearby countries and high government
spending domestically, before slowing to 7.8% in 2014. Mongolia's economy 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 nearly 62% of
Mongolia's total external trade - China receives some 90% of Mongolia's exports
and supplies Mongolia with more than one-third of its imports. Mongolia has
relied on Russia for energy supplies, leaving it vulnerable to price increases;
in 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 |
PERFFECTCON LLC (Correct)
PERFFECT CON LLC
(Requested)
Building
: AAABB Building, 3rd Floor
Area
: Chingeltei District, 8th
Khoroo
Town
: Ulaanbaatar 15141
Country
: Mongolia
Telephone
: (976 11) 320 860 / Mobiles
(976 99) 093 520 (Dulmaa
Otgonbayar) / (976 88) 115
573
Fax
: (976 11) 320 860
E-Mail
: d.otgonbayar@gmail.com /
perffect_con@yahoo.com
Also Known As : Perffect Con LLC / Perffect
Con XXK / Perffect Con Co. Ltd
Name Position
Dulmaa Otgonbayar Managing Director
Total Employees : 50 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.
Although it is normal accepted practice for
international suppliers to deal on secured terms with Mongolian importers.
Opinion on maximum credit : TUGRIK 40,000,000
Trade risk assessment : Normal
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
Subject 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 : US DLRS 1,000,000 - 2014 - exact
: US DLRS
500,000 - 2015 – exact *
: US DLRS 1,000,000 - 2015 - projected
Net Profit :
not given but stated to be 30% of the sales turnover
* 6 months results (January - June).
Financial year ends 31 December.
Date Started : 9 October 2001
History : Subject was established in
Ulaanbaatar on 9 October 2001.
C.R. No. : 9011173143
Tax No. : 2676842 (issue date : 16/05/2002)
Capital : not given
Limited Liability Company with the following
director and shareholders :
Director
Dulmaa Otgonbayar
(Mongolian national)
Shareholders
Percentage
1. Dulmaa Otgonbayar
50%
(Mongolian national)
2. Zinguu Khunjaw
50%
(cousin of the above)
Affiliated companies of the Perffectcon LLC :
Associates
1. Gunju LLC
Mongolia
2. DAB LLC
Mongolia
The Company is involved in the following
activities :
Trading as importers, wholesalers and distributors
of building materials, equipment and its spare parts.
Subject provides general contracting services
including interior & exterior decoration services.
Subject’s main brands are as follows :
- Sopro;
- Caparol;
- Vogelundnoot.
NACE Codes : 4299 / 4613 / 4614
Imports from Germany, Poland, Denmark and the
Netherlands.
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.
Basarkhan Building
Chingeltei District, 5th Khoroo
Ulaanbaatar
Telephone: (976 11) 320 860
Fax
: (976 11) 320 860
E-Mail
: perfect_con@yahoo.com
You enquired on : “PERFFECT CON LLC”. Please note that subject is also known by this name. Subject's correct
registered name is as per heading.
Interviewed : Dulmaa Otgonbayar (Managing
Director).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.64.92 |
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1 |
Rs.101.44 |
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Euro |
1 |
Rs.72.26 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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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.