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Report No. : |
311443 |
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Report Date : |
23.03.2015 |
IDENTIFICATION DETAILS
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Name : |
ULZII DEN LLC |
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Registered Office : |
Allergy Med Hospital Building, Ul Khatanbaatar Magsarjav 36, Bayangol District Khoroo 1 Microdistrict 2, Ulaanbaatar 16052 |
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Country : |
Mongolia |
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Date of Incorporation : |
1998 |
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Com. Reg. No.: |
9011021004 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as Importers and Distributors of
Medical Products. |
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No. of Employees : |
68 |
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 Limits : |
TUGRIK 200,000,000 |
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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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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. 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 economic growth, because
of reform-embracing, free-market economics 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 with better regulations and closer supervision.
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 direct 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 2013, Mongolia purchased 76% of its
gasoline and diesel fuel and a substantial amount of electric power from
Russia. A drop in foreign direct investment and a decrease in Chinese demand
for Mongolia's mineral exports are putting pressure on Mongolia's balance of
payments. Remittances from Mongolians working abroad, particularly in South
Korea, are significant.
|
Source
: CIA |
Ulzii
Den LLC (Correct)
LLC
ULZII DEN
(Requested)
Building
: Allergy Med Hospital
Building
Street
: Ul Khatanbaatar
Magsarjav 36
Area
: Bayangol District Khoroo
1 Microdistrict 2
Town
: Ulaanbaatar 16052
Country
: Mongolia
Telephone
: (976 70) 005 354 (Managing
Director) / 005 353 /
Mobiles (976 99) 117 623 (A. Amarsaikhan) /
(976 99) 191 096
Fax
: (976 70) 005 353
E-Mail
: ariuntsetseg.n@allergymed.mn
/ contact@allergymed.mn /
oyuntuyadu@allergymed.mn
Website
: www.allergymed.mn
Trading Style : Allergy Med Hospital
Also Known As : Ulzii Den XXK
Name Position
1. A. Amarsaikhan Managing Director
2. Ms Ariun Tsetseg Administrator
Total
Employees: 68
We consider
it is acceptable to deal with subject for MEDIUM amounts, however in view of
the lack of financial information we recommend international suppliers exercise
a degree of caution. Although it is normal accepted practice for international
suppliers to deal on secured terms with Mongolian importers.
Opinion on maximum credit: TUGRIK 200,000,000
(higher
amounts may be considered with full fiscal
disclosure)
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
The Company also has an account with the following
banks :
1. Golomt Bank of Mongolia
Main Branch
Bodi Tower,
Sukhbaatar Square
Ulaanbaatar
Telephone:
(976 11) 311 530
Fax : (976 11) 312 307
2. Khan Bank of Mongolia
Peace Avenue
P.O Box-185
Ulaanbaatar
Telephone : (976 11) 457 880
Fax :
(976 11) 457 880
Private companies in Mongolia are not
required to publish or disclose balance sheets. Balance sheets are not
available from other sources, and the subject interviewed declined to give any
financial information, which the company regards as strictly confidential.
Date Started : 1998
History : Subject was established in
Ulaanbaatar in 1998.
C.R. No.: 9011021004
Tax No.: 2635321 (issue date : 15 April 2002)
Capital: not given
Limited Liability Company with the following
sole shareholder :
A. Amarsaikhan 100%
(Mongolian national)
The Company is involved in the following
activities :
Trading as importers and distributors of
medical products.
Owner and operators of hospital in
Ulaanbaatar under the name “Allergy Med Hospital” operating since 31 May 2014.
NACE Codes : 8610 / 8622 / 4774
Imports from Russia and France.
Subject does not export, all sales are
domestic.
The Company has the following facilities :
Owned premises comprising administrative office,
a hospital with storage facilities located at the heading address.
Subject’s facilities :
50 beds for inpatient wards, treatment
service, surgery service with following departments :
- Sauna;
- Hydro;
- Massage Lamination;
- Cosmetic therapy;
- Laser Treatment;
- PRP therapy;
- RF treatment;
- Skin.
Sukhbaatar District
Ulaanbaatar
You enquired on: “LLC ULZII DEN”. Please note that subject's correct registered name is as per heading.
Interviewed: A. Amarsaikhan (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.62.49 |
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1 |
Rs.92.26 |
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Euro |
1 |
Rs.66.80 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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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.