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Report No. : |
347957.2 |
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Report Date : |
02.12.2015 |
IDENTIFICATION DETAILS
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Name : |
OMNI SHIPPING LLC |
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Registered Office : |
105, Colorado Business Center, Office No. 208 Amarsanaa Street District, Gandan 16th Khoroo Bayangol Ulaanbaatar |
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Country : |
Mongolia |
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Date of Incorporation : |
19.11.2014 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject Operators of a freight forwarding
and shipping agency providing the following services : - Road Transport; - Railway Transport; - Sea freight; - Air Freight; - Project Shipment; - Cargo Insurance; - Customs Brokerage. |
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No. of Employee : |
7 |
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 – 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.
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Source
: CIA |
In absence of financials, no credit limit could be recommended.
CO. NAME
: Omni Shipping LLC
Building
: 105, Colorado
Business Center, Office No. 208
Street
: Amarsanaa
Street
Area :
Bayangol District, Gandan 16th Khoroo
Town
: Ulaanbaatar
Country
: Mongolia
Telephone
: (976 70) 003
653 / Mobiles (976 99) 103 653 (Batsaikhan
Nyambayar) /
(976 88) 059 070 / (976 88) 079 020
Fax
: (976 70)
003 654
E-Mail
:
info@omnishipping.mn / nyam_aa@yahoo.com
Website
:
www.omnishipping.mn
Trading Style : Omni Shipping
Also Known As : Omni Shipping Co. Ltd / Omni Shipping XXK / Omni
Shipping Freight Forwarder
Name Position
1. Batsaikhan Nyambayar Managing Director
2. Tukhsin Bayar Sales
Manager
Total Employees : 7
No trade experience of payments is available.
Subject is a newly established company
incorporated on 19 November 2014.
Opinion on maximum credit : As the Company
has recently commenced operations and has no financial or payment track record,
we recommend dealing on fully secured terms
Trade risk assessment : High (see above
comments)
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 Company has only recently commenced
operations, relevant financial information is not available.
Date Started : 19 November 2014
History : Subject was established in
Ulaanbaatar on 19 November 2014.
Capital : not given
Limited Liability Company with the following
director and shareholders :
Director
Batsaikhan Nyambayar
(Mongolian national)
Shareholders
1. Batsaikhan Nyambayar
(Mongolian national)
2. Undisclosed members.
* The exact shareholding percentage was not
disclosed.
The Company is involved in the following
activities :
Operators of a freight forwarding and
shipping agency providing the following services :
- Road Transport;
- Railway Transport;
- Sea freight;
- Air Freight;
- Project Shipment;
- Cargo Insurance;
- Customs Brokerage.
NACE Codes : 5020
/ 5040 / 5121
Imports worldwide,
mainly from Europe, Russia and China.
Exports worldwide.
The Company has the following facilities :
Rented premises comprising administrative
offices located at the heading address.
As per your request, client name was revealed
as “Cargo Partner Spedycja Sp. z o.o”.
As per your special query: Please tell if there
is available and registration or tax number of the subject? The company seems
to be operational but there is any registration/tax details in the report.
Btw. please also tell if you revealed the
name of our client when contatcting the subject company? This was requested in
the original order. The name of the client is Cargo Partner Spedycja Sp. z o.o.
ul. 3 Maja 8/D1, 05-800 Pruszków.
Upon re-investigation we were unable to
extract any registration/tax details from local chamber of commerce and subject’s
Managing Director Mr Batsaikhan Nyambayar declined to
provide any information regarding the subject.
The address given by you : “105, Colorado
Business Center, Amarsanaas Street, Gandan, 16th Khoroo Bayangol Dostrict” is
misspelt. Please note that the correct spelling is as per heading.
Interviewed : Batsaikhan Nyambayar (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.66.52 |
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|
1 |
Rs.100.44 |
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Euro |
1 |
Rs.70.44 |
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MNT |
1 |
Rs.0.033 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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DIV |
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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 |
|
-- |
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.