|
Report No. : |
344121 |
|
Report Date : |
12.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
LUXWOOD HOUSE LLC |
|
|
|
|
Registered Office : |
JS Building, 2nd Floor, Office No. 201, Narnii Zam Street (Aka Sunway Street), Sukhbaatar District, 5th Khoroo, 5th Khoroolol, Ulaanbaatar |
|
|
|
|
Country : |
Mongolia |
|
|
|
|
Date of Incorporation : |
15.06.2012 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Trading as Importers, Wholesalers and Retailers of Building Materials Specialized in WPC Technology Materials. |
|
|
|
|
No. of Employees : |
15 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limits : |
TUGRIK 80,000,000 |
|
|
|
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
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) |
|
Mongolia |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
LUXWOOD
HOUSE LLC
Building
: JS Building, 2nd Floor,
Office No. 201
Street
: Narnii Zam Street (aka
Sunway Street)
Area
: Sukhbaatar District, 5th
Khoroo, 5th Khoroolol
Town
: Ulaanbaatar
Country
: Mongolia
Telephone
: (976 70) 177 007 / Mobiles (976
99) 116 776 (S.
Tsogtsaikan) / (976 99)
080 890 (Undral Uyanga) / (976
88) 112 233 / (976 94) 307
017 / (976 94) 317 017
Fax
: (976 70) 177 007
E-Mail
: undral@luxwood.mn /
office@luxwood.mn / anar@luxwood.mn
Website
: www.luxwood.mn
Also Known As : Luxwood House Co. Ltd / Luxwood House XXK
Name Position
1. S. Tsogtsaikan Chief Executive Officer
2. D. Tsogtbayar General Engineer
3. Undral Uyanga (Mrs) Foreign Relations Manager
Total Employees : 15
Slow
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 80,000,000
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 :
Khas Bank
Xac Bank Building, Ulaanbaatar-14200
Post Branch 20 A
PO Box 72
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 2,000,000 - 2014 - exact
Net Profit :
not given but stated to be profitable
Value of current contracts : TUGRIK
1,600,000,000 (as of 2015)
Financial year ends 31 December.
Date Started : 15 June 2012
History : Subject was established in
Ulaanbaatar on 15 June 2012.
Tax Card No. : 5610478 (issue date : 1
November 2012)
Capital : not given
Limited Liability Company with the following
director and shareholders :
Director
S. Tsogtsaikan
(Mongolian national)
Shareholders
Percentage
1. S. Tsogtsaikan
75%
(Mongolian national)
2. Inkh Jargal 25%
(Mongolian national)
The Company is involved in the following
activities :
Trading as importers, wholesalers and
retailers of building materials specialized in WPC technology materials.
Subject’s main supplier is Hengtong Luxwood.
NACE Codes : 4613 / 4673
Imports from China.
Subject does not export, all sales are
domestic.
The Company has the following facilities:
Owned premises comprising administrative offices
located at the heading address as well as 3 showrooms located elsewhere in
Ulaanbaatar.
The address given by you : “Khoroolol 5/2,
Ulaanbaatar” is incorrect. Please note that subject’s correct administrative
office address is as per heading.
Interviewed: Undral Uyanga (Foreign Relations
Manager).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.78 |
|
|
1 |
Rs.99.54 |
|
Euro |
1 |
Rs.73.08 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
NIT |
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.
S