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Report No. : |
355781 |
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Report Date : |
23.12.2015 |
IDENTIFICATION DETAILS
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Name : |
UUDAM UNUR LLC |
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Registered Office : |
House No. 105, Apartment No. 21, Bayanzurkh District, 26th Khoroo, Dinjingarav Khoroolol, Ulaanbaatar |
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Country : |
Mongolia |
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Date of Incorporation : |
2013 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as importers and
distributors of foodstuff. |
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No. of Employee : |
10 |
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 4,000,000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 |
Uudam Unur LLC
(Correct)
UUDAM UNUR CO LTD (Requested)
Building :
House No. 105, Apartment No. 21
Area :
Bayanzurkh District, 26th Khoroo, Dinjingarav Khoroolol
Town :
Ulaanbaatar
Country :
Mongolia
Telephone :
(976 77) 058 288 / Mobile (976 99) 008 288 (Orgil
Batbeleg)
Fax :
(976 77) 058 288
E-Mail :
uudamunur@yahoo.com
Also Known As : Uudam Unur Co Ltd
Name Position
1. Orgil Batbeleg Managing Director
2. Meng Davaa Marketing Manager
Total Employees : 10
Slow but correct
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 4,000,000
Trade risk assessment : Normal
NAME :
GOLOMT BANK OF MONGOLIA
Branch :
Bodi Tower, Sukhbaatar Square
Town :
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 100,000 - 2014 - exact
: US DLRS 200,000 - 2015 - projected
Net Profit :
not given but stated to be profitable
Financial year ends 31 December.
Date Started : 2013
History : Subject was established in Ulaanbaatar in 2013.
C.R. No. : 9011414118
Tax No. : 5713757 (issue
date : 22 October 2013)
Capital : not given
Limited Liability Company with
the following sole shareholder:
Orgil Batbeleg 100%
(Mongolian national)
Affiliated company of the Uudam
Unur LLC :
Associate
Uudam Orgil LLC
Ulaanbaatar
The Company is involved in the
following activities :
Trading as importers and
distributors of foodstuff.
NACE Code: 4617
Imports from Poland.
Subject does not export, all
sales are domestic.
The Company has the following
facilities :
Rented premises comprising administrative
offices and storage facilities located at the heading address.
You enquired on : “UUDAM UNUR 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 : “26TH KHOROO,
DINJINGARAV KHOROOLOL 105 / 21, ULAANBAATAR BYANZURKH DISTRICT” is misspelt.
Please note that the correct spelling is as per heading.
Interviewed : Orgil Batbeleg
(Managing Director).
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.66.30 |
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|
1 |
Rs.98.71 |
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Euro |
1 |
Rs.72.33 |
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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
: |
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.