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Report No. : |
354422 |
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Report Date : |
16.12.2015 |
IDENTIFICATION DETAILS
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Name : |
JEIL BAYANBOGD LLC |
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Registered Office : |
Building
No. 49/2 Peace Avenue Bayangol District, 5th Khoroo, 10th Khorolol
Ulaanbaatar |
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Country : |
Mongolia |
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Date of Incorporation : |
15.10.2006 |
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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 paints. |
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No. of Employee : |
15 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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
|
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 |
Jeil Bayanbogd LLC (Correct)
JEIL BAYANBOGD CO.LTD. (Requested)
Building : Building No. 49/2
Street :
Peace Avenue
Area :
Bayangol District, 5th Khoroo, 10th Khorolol
Town :
Ulaanbaatar
Country :
Mongolia
Mobiles :
(976 99) 020 165 (Erdenebaatar Sukhbaatar) / (976 99) 195
812 (Mrs. Uruntuya) / (976 98) 230 165 / (976
99) 190 165
(Mrs Oyunchimeg) / (976 99) 190 165
E-Mail :
erdenewall@yahoo.com
Also Known As : Jeil Bayanbogd XXK / Jeil
Bayanbogd Co. Ltd
Name
Position
1. Erdenebaatar Sukhbaatar Managing Director
2. Mrs Oyunchimeg Executive Manager
3. Mrs. Uruntuya Manager
Total Employees : 15
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 20,000,000
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
Subject also has an account with
the following bank :
Khan Bank of Mongolia
Seoul Street 25
PO Box 192
Ulaanbaatar 14250
Telephone : (976 11) 332 333
Fax :
(976 70) 117 023
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 300,000 - 2013 - exact
: US DLRS 500,000 – 2014 – exact
:
US DLRS 500,000 – 2015 – projected
Net Profit :
not given but stated to be profitable
Financial year ends 31 December.
Date Started : 15 October 2006
History : Subject was established in Ulaanbaatar on 15 October
2006.
C.R. No. : 9011020021
Tax No. : 2855615
Capital : not given
Limited Liability Company with
the following director and shareholders :
Director
Erdenebaatar Sukhbaatar
(Mongolian national)
Shareholders
Percentage
1. Erdenebaatar Sukhbaatar 90%
(Mongolian national)
2. Mrs Oyunchimeg
10%
(wife of the above)
The Company is involved in the
following activities :
Trading as importers, wholesalers
and distributors of building materials and paints.
NACE Code : 4613
Imports mainly from South Korea
and Russia.
Subject does not export, all
sales are domestic.
The Company has the following
facilities :
Rented premises comprising
administrative offices with storage facility located at the heading address.
Subject previously used the
following telephone numbers :
Telephone: (976 11) 683 275 / 689
019
You enquired on : “JEIL BAYANBOGD
CO.LTD”. Please note that subject is also known
by this name. Subject's correct registered name is as per heading.
The address given by you : “PEASE AVENUE”
is misspelt. Please note that the correct spelling is as per heading.
Interviewed : Mrs. Uruntuya
(Manager).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.67.04 |
|
|
1 |
Rs.101.67 |
|
Euro |
1 |
Rs.73.93 |
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MNT |
1 |
Rs.0.034 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
HEE |
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Report Prepared
by : |
TRU |
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 |
-- |
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.