The logo expresses our mission statement to bring internationally competitive standards to Mongolia. It has a dual meaning: the four cardinal directions symbolize bringing the best of the world from four directions (N.E.W.S) and the shape overall represents stabile growth.
The company flag consists of three equal vertical bands. The maroon band represents energy and prestige, the white band represents purity and honesty and the blue band symbolizes the eternal blue sky. The company logo is positioned in the middle of the central white band. These are the corporate colors of MCS Group’s first companies.
The purchase and distribution of 75,000 energy-efficient stoves was financed by a loan from Golomt Bank and we used our own assets as collateral. The company paid MNT20 billion upfront to purchase, distribute and install the European-standard stoves. The Millennium Challenge Fund reimbursed the company upon completion of the project. The project compares favorably with previous anti-pollution efforts and has reduced the amount of dust and particulate matter by 50-80%. It has received positive feedback from international and professional organizations, the National Anti-Pollution Committee, city government and end-users.
It is our company policy to offer company shares to long-standing employees with a successful track record. Currently 40 people own ordinary shares and limited-rights shares in MCS.
Each stage of the process was audited and monitored by the relevant legal authorities to ensure full compliance with laws and regulations. The Mongolian National Audit Office audited the license and agreement process and released an official statement confirming that it was done correctly. The official statement and report are available to the public.
1. The area owned by the Wedding Palace is one hectare (not three).
2. MCS Properties Holding LLC entered into an agreement to lease portions of the land, to be used for construction purposes, with the Property Relations Department of Ulaanbaatar City Government and the Wedding Palace. As per the agreement, the lease holder can use the leased land for the temporary storage of construction materials and temporary changing rooms for workers. As the Wedding Palace is state property, it does not have a legal right to sell land belonging to the Wedding Palace.
MCS Properties Holding LLC is legally leasing the land for a certain period of time. Upon completion of the agreement, the lease holder is required to rehabilitate the area according to the city planning requirements and return the leased land to the Wedding Palace.
Excerpts from an interview conducted with J.Tsetsegdari, manager of the Wedding Palace, published in issue No.266, 2013 of Zuunii Medee newspaper.
The Children’s Amusement Park requested that the hotel project be moved to a corner location so as not to obstruct the main northern entrance to the park. An investment agreement was reached with Montano LLC, who had already laid the foundations for the hotel in the north-eastern corner of the park. Under this agreement, one hectare of land was transferred to the Shangri-La construction project. A request to expand the project land area to the initial proposal size was put to the city government and an additional two hectares of land in the north-eastern corner of the park was allocated.
The hotel complex will also contain a shopping mall, a multi-screen cinema, a swimming pool and a sports center. Its operations and activities will be closely linked to the park’s operations.