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Report No. : |
342117 |
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Report Date : |
01.10.2015 |
IDENTIFICATION DETAILS
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Name : |
NANO INTERNATIONAL LLC |
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Formerly Known As : |
MONOS HOUSEHOLD CO
LTD |
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Registered Office : |
WW Center, 10th Floor, Teeverchidiin 3/1 Street, Bayangol, District, 3rd Khoroo, Ulaanbaatar |
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Country : |
Mongolia |
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Financials (as on) : |
31.12.2007 |
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Year of Establishment : |
2007 |
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Legal Form : |
Limited Liability
Company |
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Line of Business : |
Subject is trading
as importers, wholesalers and distributors of FMCG products. |
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No. of Employee : |
210 (Subject) 1,300 Plus (Group) |
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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Maximum Credit Limit : |
TUGRIK 160,000,000 |
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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.
|
Source
: CIA |
MONOS HOUSEHOLD CO LTD (Requested)
Building
: WW Center, 10th Floor
Street
: Teeverchidiin 3/1 Street
Area
: Bayangol District, 3rd
Khoroo
Town
: Ulaanbaatar
Country
: Mongolia
Telephone
: (976 77) 115 852 / 005 852
/ Mobiles (976 99) 110 956
(N. Batbaatar) / (976 99) 086 063 / (976 99)
055 852
Fax
: (976 77) 106 060
E-Mail
: household@monos.mn /
batbaatar@monos.mn
Also Known
As :
Nano International Co. Ltd / Nano International XXK
Formerly Known
As :
Monos Household Co Ltd
Name
Position
1. Khurelbaatar Lupsan Chairman
2. Anand Khurelbaatar Group Chief Executive Officer
3. N. Batbaatar Managing Director
4. Uyanga Bandii Group Administrative Manager
5. Telmuun Nasanbayar Head of Sales
Total Employees : 210
(subject)
1,300 plus (group)
No
complaints have been heard regarding payments from local suppliers or banks.
Subject is a
subsidiary of the Monos Group of companies was established in 1990. Monos Group
has 16 years history and 10 affiliated companies, cooperates with 50 companies
from 30 countries in the worldwide. Monos Group has more than 1,300 workers.
Association
inspires confidence and we consider it is acceptable to deal with subject for MEDIUM
amounts. Although it is normal accepted practice for international suppliers to
deal on secured terms with Mongolian importers.
Opinion on
maximum credit : TUGRIK 160,000,000
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 the
following banks :
1. Golomt Bank of Mongolia
Sukhbaatar
Square 3
PO
Box 22
Ulaanbaatar 210620A
Telephone : (976 11) 311 530
Fax : (976 11) 326 535
2. Khan Bank
Seoul Street 25
Sukhbaatar District
Ulaanbaatar
Telephone : (976 11) 332
333
Fax : (976 70) 117 023
3. Khas Bank
Sukhbaatar district
Ulaanbaatar 14200
Telephone : (976 11) 318 185
Fax : (976 11) 328 701
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 2,500,000 - 2014 – approx
Net Profit :
not given but stated to be profitable
Financial year ends 31 December.
The following financial information applies
to Nano Fashion LLC, subject's affiliated company :
Sales Turnover :
EURO 1,000,000 - 2014 – approx
Net Profit :
not given
Financial year ends 31 December.
The following financial information applies
to Monos Pharma Trade LLC, subject's affiliated company :
Sales Turnover: US DLRS 16,835,025 - 2009 -
exact
: US DLRS 16,431,383 -
2010 - exact
: US DLRS 19,430,000 -
2011 - exact
: US DLRS 35,000,000 -
2012 – exact *
: US DLRS 40,000,000 -
2013 – exact *
: US DLRS 45,000,000 -
2014 – approx ***
Net Profit : US DLRS 3,125,960 - 2009 - exact
: US DLRS 2,387,019 - 2010 - exact
: not given - 2011
: US DLRS 3,500,000 - 2012 - exact
: US DLRS 2,000,000 - 2013 - exact **
: US DLRS 2,225,000 - 2014 - approx
* Sharp increase in sales turnover in 2012
& 2013 was attributed to favourable market conditions.
** Decrease in net profit in 2013 was due to
unfavourable market conditions.
*** Projected increase in sales turnover in
2014 is due to favourable market conditions.
Financial year ends 31 December.
Balance Sheets as at 31
December 2009 applies to parent company (latest available) :
31/12/2007 31/12/2008 31/12/2009
(in thousands of TUGRIK)
ASSETS
NON CURRENT ASSETS
Property.plant and equipment 2,864,079.0
4,830,912.1 4,939,073.3
Intangible assets 19,675.0 12,812.7 600.0
Investment in subsidiary - -
Subtotal non-current assets 2,883,754.0
4,843,724.8 4,939,673.3
CURRENT ASSETS
Inventories 4,272,326.0 6,398,286.1
6,335,707.8
Trade receivables 1,955,447.0 3,125,960.9
2,211,005.6
Other receivables,
prepayments1,928,742.0 1,423,009.4 1,158,985.6
Amounts due from related 1,556,927.0 814,082.5
1,540,253.8
companies
Cash and bank balances 995,687.0 229,963.4 245,757.6
Subtotal current assets 10,709,129.0 11,991,302.3
11,491,710.5
TOTAL ASSETS 13,592,883.0 16,835,027.1
16,431,383.8
LIABILITIES & EQUITY
EQUITY
Share capital 587,930.0 587,930.4 587,930.4
Revaluation reserve - 1,938,216.6 1,967,450.4
Retained earnings 5,312,479.0 5,407,985.5
5,769,287.0
Subtotal equity 5,900,409.0 7,934,132.5
8,324,667.8
CURRENT LIABILITIES
Interest bearing loans 3,164,892.0 6,147,679.1
5,212,500.0
and borrowings
Trade payables 1,441,077.0 1,692,263.2
2,387,019.7
Other payables 2,438,821.0 240,398.4 471,651.8
Amounts due to related 647,418.0 754,453.2 23,642.5
companies
Tax payable 266.0 66,100.7 11,902.0
Subtotal current liabilities 7,692,474.0
8,900,894.6 8,106,716.0
TOTАL LIABILITIES & EQUITY 13,592,883.0 16,835,027.1 16,431,383.8
INCOME STATEMENT (as at 31 December 2008) :
2008 2007
(in thousands of TUGRIK)
Revenue
24,097,459 18,887,148
Cost of sales 18,394,291 14,176,981
Gross profit
5,703,168 4,710,167
Administrative expenses 3,456,511 2,001,031
Other expenses 854,252 480,837
Other income 1,288,860 142,842
Finance cost
699,658 314,271
Profit before taxation 1,981,608 2,056,870
Taxation
290,459 235,114
Net profit for the year 1,691,608 1,821,756
Financial year ends 31 December.
Date Started
: 2007
History :
Subject was established in Ulaanbaatar in 2007 as a Limited Liability Company
under the name “Monos Household Co Ltd”.
In the
beginning of 2015, subject changed its name to the present style.
Tax No. : 5108233 (issue date : 1 August
2007)
Capital :
not given
Limited Liability Company with the following
directors and sole shareholder :
Directors
1. Khurelbaatar Lupsan
(Mongolian national)
2. Anand Khurelbaatar
(Mongolian national)
3. N. Batbaatar
(Mongolian national)
Shareholder
Monos Group LLC 100%
Monos Group LLC Building
Choimbol Street
Chingeltei District
Telephone :
(976 11) 315 908
Fax
: (976 11)
320 967
E-Mail
:
info@monos.mn
Website
: www.monos.mn
Tax No.
: 2811243
Shareholders :
- Khurelbaatar Lupsan
- Erdenechimeg Lupsan (Ms)
- Solongo Khurelbaatar
Affiliated companies of the Nano
International LLC :
Subject is a subsidiary of Monos Group LLC,
which also includes the following companies :
1. Nano Fashion LLC
Net
Capital Building
Bayangol District, 2nd Khoroo
Ulaanbaatar
Telephone : (976 77) 115 852 /
Mobile (967 94) 085 3223
E-Mail : hh_hrmanager@monos.mn / khambaa@monos.mn
Tax
No. :
5690056
2. Monos Cosmetics Co., Ltd
Sonsgolon Toiruu
5
Songinokhairkhan District 20
Ulaanbaatar
211137
Telephone : (976 11) 633 257
Fax :
(976 11) 633 257
E-Mail :
info@monoscosmetics.mn / cosmetics@monos.mn
Website :
www.monoscosmetics.mn
3. Monos-ABC Co., Ltd
Kharaa Hotel
Chingeltei
District 2
Ulaanbaatar
Telephone : (976 11) 311 336
Fax :
(976 11) 311 336
E-Mail : Monosabc@mongol.net
4. Monos Research Center
Sonsgolon
Toiruu 5
Songinokhairkhan District 20
Telephone : (976 11) 633 107
Fax :
(976 11) 633 117
E-Mail : monospharma@mongol.net
5. Computer Tomography
Bayangol
District
PO Box 26
Ulaanbaatar
Telephone : (976 99) 798 990
E-Mail : monospharma@mongol.net
6. Monos pharma Co., Ltd
Sonsgolon Toiruu
5
Songinokhairkhan District 20
Telephone : (976 11) 633 107
Fax :
(976 11) 633 117
E-Mail :
monospharma@mongol.net / pharma@monos.mn
Tax No. :
99771185
7. Monos Ulaanbaatar Co., Ltd
Chingeltei
District 2
Ulaanbaatar 210526
Telephone : (976 11) 315 908
Fax :
(976 11) 315 908
E-Mail :
monostrade@mongol.net
8. Monos San Co., Ltd
Chingunjav
Street 9
2th Khoroo
Bayangol
District
Ulaanbaatar
210526
Telephone : (976 11) 361 419 / 305 390
Fax :
(976 11) 361 419
E-Mail :
monostrade@mongol.net
9. Monos University
Sonsgolon
Toiruu 5
Songinokhairkhan District 20
Ulaanbaatar
211137
Telephone : (976 11) 633 235
Fax :
(976 11) 633 235
10.Magic of Health Magazine
Chingeltei
District 2
Ulaanbaatar
210526
Telephone : (976 11) 322 996
Fax :
(976 11) 325 639
E-Mail :
monostrade@mongol.net / uvdis@yahoo.com
11.Monos Pharma Trade LLC
Monos Pharma
Building
Namyanju
Street
18th Khoroo,
Bayanzurkh District
Ulaanbaatar
210348
Telephone: (976 11) 450 054 ext. 111 (Legal Advisor) /
450 127 /
453 954 / Mobiles (976 99) 090 832
(Ariunzaya Choij) /
(976 88) 106 431 (Tamir Bayasgalan) /
(976 96) 657 181
/ (976 99) 116 431 / (976 88) 090 088
/ (976 99) 175
223
Fax :
(976 11) 463 158
E-Mail :
monostrade@mongol.net / ariunzaya.choij@monos.mn /
monostrade@monos.mn / tamir@monos.mn
Website :
www.monos.mn
Registration
No. : 9011022059
Tax No. :
2670712
Capital :
TUGRIK 587,930,000
The Company is involved in the following
activities :
Trading as importers, wholesalers and distributors
of FMCG products.
Subject's main suppliers include :
- GlaxoSmithKline;
- Reckitt Benkiser;
- Beiersdorf;
- Danone group;
- Loacker;
- KAO Corporation;
- Borjomi.
NACE Codes : 4619 / 4618
Imports worldwide mainly from UK and Japan.
Subject does not export, all sales are
domestic.
The Company has the following facilities :
Rented premises comprising administrative offices located at the heading address as well as storage facilities located elsewhere in Ulaanbaatar.
Until 2014, subject was located at :
Namyanju Street
Bayanzurkh District, 18th Khoroo, 13th
Khoroolol
Until 2014, subject used the following postal
code number :
Ulaanbaatar 210348
You enquired
on : “MONOS HOUSEHOLD CO LTD”. Please note that this name applies to subject's
formerly known name. Subject's current registered name is as per heading.
The address
given by you : “Namyanju Str, Bayanzurkh Distr, 18-Khoroo, 13 Rd Khoroolol,
210348 Ulaanbatar” is misspelt and applies to the subject’s previous address.
Please note that the current address is as per heading.
The
telephone number given by you : “97611455852” is incorrect and applies to
subject's affiliated company “Monos Pharma Trade
LLC”.
Please note that subject’s correct administrative telephone numbers are as per
heading.
Interviewed : N. Batbaatar (Managing
Director).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.74 |
|
|
1 |
Rs.99.53 |
|
Euro |
1 |
Rs.73.80 |
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
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Report Prepared
by : |
ASH |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<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.