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Report Date : |
09.03.2012 |
IDENTIFICATION DETAILS
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Name : |
VESTPARMI SHPS |
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Registered Office : |
Javakhishvili Street 85 Kutaisi 4600 |
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Country : |
Georgia |
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Date of Incorporation : |
05.12.1997 |
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Com. Reg. No.: |
12/4-752 |
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Legal Form : |
Shazguduli Pasukhismbgeblobis Sazagadoeba (limited liability company)
ShPS) |
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Line of Business : |
Trading as importers,
wholesalers and retailers of expendable materials and pharmaceutical
equipment’s. |
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No. of Employees : |
14 |
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 : |
LARI 20,000 |
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Status : |
Small Company |
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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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Georgia |
C1 |
C1 |
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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 |
Vestparmi ShPS (Correct)
L T D Westpharm (Requested)
Street : Javakhishvili Street 85
Town : Kutaisi 4600
Country : Georgia
Telephone : (995 431) 297 763 / 257 909 / Mobile (995 599) 659 776
(Ivane Benidze) / (995 593) 555 542
Fax : (995 431) 297 763
E-Mail :
vestfarm97@yahoo.com
English
Translation : Westpharm Ltd
Name Position
1. Archil Benidze
Managing Director
2. Ivane Benidze Manager
(brother of the above)
Total Employees : 14
No complaints have been heard regarding payments from local suppliers or
banks.
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 Georgian importers.
Opinion on maximum credit : LARI 20,000
Trade risk assessment: Normal
NAME : VTB BANK GEORGIA JSC
Branch : Rustaveli Street 5
Town : Kutaisi
Telephone :
(995 431) 240 480
Fax :
(995 431) 240 480
The company also
has an account with:
TBC-Bank
(Tbilisi Business Centre Bank)
Chavchavadze
Avenue 62
Kutaisi
Telephone: (995 431) 227 272
Fax : (995 431) 262 772
Private companies in Georgia are not required to publish or disclose
balance sheets. However, the subject interviewed offered
the following information :
Sales Turnover :
LARI 500,000 - 2010 - approx
: LARI 1,000,000 - 2011
- approx
Net Profit : not given but stated to be profitable
Financial year ends 31 December.
Date Started : 5 December 1997
C.R. No. : 12/4-752
ID Code : 212699720
Capital : not given
Shazguduli Pasukhismbgeblobis Sazagadoeba (limited
liability company) ShPS) with the following sole shareholder:
Archil Benidze 100%
(Georgian national / Personal No.: 6003005848 /
resides at Sanikidze Street 4, Kutaisi)
_____________________________________________________________________
The Company is involved in the following activities :
Trading as importers, wholesalers and retailers of expendable materials
and pharmaceutical equipment’s.
NACE Code: 4646
Imports from India, China, Malaysia and Turkey.
Subject does not export, all sales are domestic.
Subject’s suppliers include: Maxter (Malaysia), Sepa (Turkey) and
Plastinet (Turkey).
The Company has the following facilities :
250 sq. m. rented premises comprising administrative offices and storage
facilities located at the heading address.
Javakhishvili
Street 85
Kutaisi 4600
You enquired on: L T D Westpharm. Please note that the correct name is as per
heading.
The telephone
number given by you: (+995231)9776 is incomplete. Please note that subject’s
correct telephone and fax numbers are as per heading.
Interviewed: Ivane Benidze (Manager).
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.57 |
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1 |
Rs.79.57 |
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Euro |
1 |
Rs.66.49 |
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.