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Report Date : |
17.12.2013 |
IDENTIFICATION DETAILS
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Name : |
KARTULI LUDIS KOMPANIA ZS |
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Registered Office : |
Mtskheta Region, Saguramo 3311 |
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Country : |
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Date of Incorporation : |
09.06.2011 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Operators of a brewery, producers of beer, energy drinks and lemonades |
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No. of Employees : |
700 |
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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Georgia |
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 |
GEORGIA - ECONOMIC
OVERVIEW
Georgia's main economic activities include the cultivation of agricultural products such as grapes, citrus fruits, and hazelnuts; mining of manganese, copper, and gold; and output of a small industrial sector producing alcoholic and nonalcoholic beverages, metals, machinery, and chemicals. The country imports nearly all its needed supplies of natural gas and oil products. It has sizeable hydropower capacity that now provides most of its energy needs. Georgia has overcome the chronic energy shortages and gas supply interruptions of the past by renovating hydropower plants and by increasingly relying on natural gas imports from Azerbaijan instead of from Russia. Construction of the Baku-T'bilisi-Ceyhan oil pipeline, the Baku-T'bilisi-Erzerum gas pipeline, and the Kars-Akhalkalaki Railroad are part of a strategy to capitalize on Georgia's strategic location between Europe and Asia and develop its role as a transit point for gas, oil, and other goods. Georgia's economy sustained GDP growth of more than 10% in 2006-07, based on strong inflows of foreign investment and robust government spending. However, GDP growth slowed following the August 2008 conflict with Russia, and sunk to negative 4 percent in 2009 as foreign direct investment and workers' remittances declined in the wake of the global financial crisis. The economy rebounded in 2010-12, with growth rates above 6% per year, but FDI inflows, the engine of Georgian economic growth prior to the 2008 conflict, have not recovered fully. Unemployment has also remained high at above 15%. Georgia has historically suffered from a chronic failure to collect tax revenues; however, the government, since coming to power in 2004, has simplified the tax code, improved tax administration, increased tax enforcement, and cracked down on petty corruption, leading to higher revenues. The country is pinning its hopes for renewed growth on a determined effort to continue to liberalize the economy by reducing regulation, taxes, and corruption in order to attract foreign investment, with a focus on hydropower, agriculture, tourism, and textiles production. Since 2004, the government has taken a series of actions against endemic corruption, including reform of the traffic police and implementation of a fair examination system for entering the university system. The government has received high marks from the World Bank for its anti-corruption efforts.
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Source
: CIA |
KARTULI LUDIS KOMPANIA ZS (CORRECT)
JSC GEORGIAN BEER COMPANY
(REQUESTED)
Area : Mtskheta Region
Town : Saguramo 3311
Country : Georgia
Telephone : (995
32) 243 7770 / 200 0000 / Mobile (995 595) 450 036 (Sofia Kobaidze) / (995 595)
990 203 (Maka Metskhi) / (995 599) 510 331 (Sergo Gviniashvili)
Fax : (995 32) 243 7770
E-Mail : s.kobaidze@geobeer.ge
/ e.iosebidze@geobeer.ge / m.metskhi@geobeer.ge / info@zedazeni.ge
Website : www.geobeer.ge
Trading Style : Zedazeni
English
Translation : Georgian Beer Company JSC
Name Position
1. Vasili Sulkhanishvili
General Director
2. Sergo Gviniashvili
Financial Director
3. Eteri Iosebidze (Mrs) Chief
Accountant
4. Sofia Kobaidze
Procurement Manager
5. Mariam Metskhi
Export Manager
6. Kakha Paichadze
Commercial Director
7. Kristina Khutishvili Office Manager
Total Employees : 700
No trade experience of payments is available.
Subject is a newly established company incorporated in June 2011 and
commenced production on 2 April 2012.
Subject is a member
of the GIG Group of companies, which comprises 12 companies engaged in
diversified fields of activities with annual revenues in the region of LARI
160,000 (2010).
Trade risk assessment: High
NEW GEORGIAN BEER ZEDAZENI- BREWED TO BE THE LEADER
2 April 2012, (www.commercial.ge): Georgian Beer Company, the owner of
Zedazeni brewery, believes the new Georgian beer will become the local market
leader by the end of the year. Zedazeni brewery was opened in the village
Saguramo of Mtskheta on April 2, 2012. President of Georgia Mikheil Saakashvili
officially opened the brewery.
Georgian President said he’s proud to see 700 new jobs created within
the plant.
“I’m especially proud to see that 200 out of the 700 employees of
Zedazeni brewery are IDPs,” stated Saakashvili.
In his words, the launch of Zedazeni brewery is the proof how
effectively Georgia’s economy is growing and developing. “We have no similar
modern factory in Georgia today. This is one of the top modern lines of breweries
in Europe. Its construction was accomplished in seven months and it took a
month to begin production,” Saakashvili said. “Regardless of what others say,
Georgia`s economy is developing rapidly in our region. The country’s economic
growth was 7% last year and we are expecting further growth this year. In spite
of this, there is poverty and unemployment in Georgia and I know this very
well, but I am checking up numbers and I know that the unemployment index is
reducing,” he added.
According to Kakha Paichadze, Commercial Director of Zedazeni, high
quality Georgian beer made by the Czech and German experts, will shortly become
the top Georgian beer brand. In addition to beer, new Georgian brewery will
produce several types of lemonade.
“Zedazeni beer is produced with high quality ingredients, the brewery is
equipped with modern technologies. What’s also very important, we offer
competitive prices,” noted Paichadze.
GEL 70 million was invested in the construction of Zedazeni brewery plant.
Zedazeni beer will also be sold abroad. First export markets will be:
Ukraine, Kazakhstan and Azebaijan and also Russia.
“The business group that we represent has a long-time experience in beer
business. Back in the 90s we had Lomisi brewery in Akhalgori. Then we had
Natakhtari made into a leader of the local market,” said Paichadze. “People who
were not informed that Natakhtari had a new owner used to complain about beer
quality with us. Now when we see that Natakhtari is not the high quality beer it
used to be and there’s room for a new leader. Here we present Zedazeni-beer
brewed to be the leader,” Paichadze added.
One of the founders and owners of Zedazeni is Iago Chocheli, brother of
Mtsekhta-Mtianeti Governor Tsezar Chocheli. In the past, Tsezar Chocheli was
operating Lomisi brewery in Akhalgori. Current competitor beer factory
Natakhtari once belonged to Iago Chocheli. In early 2008, Efes beer bought
Natakhtari.
NAME : TBC BANK
Branch : Vazha-Pshavela Avenue 11
Town : Tbilisi 0105
Telephone: (995 32) 227 2727
Fax : (995 32) 227 2727
As the Company has only recently commenced production, relevant
financial information is not available. However, the subject interviewed
offered the following information :
Total Invested Capital : LARI 70,000,000 (as of June 2012)
Financial year ends 31 December.
The following
financial information applies to GIG Group of companies :
Sales
Turnover : LARI 160,000,000 – 2009 – exact
: LARI 210,000,000 – 2010 – approx
Net Profit : not
given but stated to be profitable
Financial year
ends 31 December.
Date Started : 9 June 2011
History : The subject company was established
in Georgia on 9 June 2011 and commenced production on 2 April 2012.
ID Code : 404900737
Capital : not given
Zaaktsionero
Sazagadoeba (joint stock company) (ZS) with the following director and
shareholders :
Director
Vasili
Sulkhanishvili
(Georgian national
/ Personal No. 01008002059)
Shareholders Percentage
1. Rkinabetonis
Shpalis Karkhana LLC
70%
Georgia
Sole Shareholder : Miksori ShPS
2. Georgian International
Energy Corporation 20%
Delisi Side Str. 3 pt 22, floor 5,
Tbilisi 0177
Georgia
Tel: (995 32) 210 295 / 210 332
Fax: (995 32) 210 288
E-mail: giec@giec.ge
3. Kakhaber
Okriashvili
10%
Affiliated companies of Kartuli Ludis Kompania ZS :
Associates
1. Miksori ShPS
Khandzteli Street 1
Gldani District
Tbilisi
Telephone: (995 32) 265 6704
Fax : (995 32) 265 6705
E-Mail
: info@mixori.com
Managing Director : Lasha Chocheli
Est.: 11 April 2008
ID Code : 205249827
Sole shareholder : Yago Chocheli
2. Evrika
Teleradiokompania ShPS (Evrika TV)
M. Tsinamdzghvrishvili Street 93/95
Dzveli District
Tbilisi
Telephone: (995 32) 294 2029 / 294 2564
Fax
: (995 32) 294 2029
Managing Director : Otar Chkhartishvili
Est.: 29 December 1995
C.R. No.: 4/4-250
ID Code : 203844723
Shareholders:
- Yago Chocheli - 71%
- Ilia Injia - 15%
- Naira Kveselava – 14%
3. Telekompania
Sakartvelo ShPS (qop tv-33)
Vazha-Pshavela Avenue 45
Tbilisi
Managing Director : Tamat Stepanishvili
Est.: 16 July 1997
C.R. No.: 7/4-784
ID Code : 206074291
Sole shareholder: Yago Chocheli
4. Barambo ShPS
Mtskheta-Mtianeti Region
Natakhtari Village 3308
Telephone: (995 32) 291 9181 / 247 0141 /
210 6046
Fax
: (995 32) 291 9180
E-Mail
: mari.chocheli@barambo.ge
Employs : 537
Est.: 11 March 2009
ID Code : 205274834
Capital : LARI 25,000,000
Subject also member of GIG Group of companies, which also includes the
following companies :
1. Georgian
Industrial Group Holding ShPS
Delisi Street, III turning 22, Floor 5
Tbilisi
Telephone: (995 32) 210 187
Fax
: (995 32) 210 189
E-Mail
: gig@gig.ge
Est.: 28 March 2006
C.R. No.: 4090/006-ShPS
ID Code : 205138493
Capital : LARI 25,000,000
2. Saqnakhshiri
GIG Group
Karlo Lominadze Square 4
Tkibuli 4300
Georgia
Tel: (995 297) 222 00
E-mail: lamuna@mail.ru
The main activities of the company : coal
mining and coal
enrichment. Saqnakhshiri is the owner of the
biggest - Tkubuli
coal layer in Georgia. Current renovation
process provides the
possibility to reach 1.2 million tones of
coal extraction by 2010;
3. Kutaisi
Automechanical Plant Ltd
Automshenebli Str. 88
Kutaisi 4600
Georgia
Tel: (995 331) 93556 / 93141
Fax: (995 331) 93556
E-mail: kamp@gig.ge
The main activities of the company :
production of goods for
heavy industry, constructive, mining
enrichment and open cast mine
directions.
4. Intertrans
Delisi Side Str. 3 pt 22, floor 5,
Tbilisi 0177
Georgia
Tel: (995 32) 210 294 / 210 297
Fax: (995 32) 210 298
E-mail: intertrans@intertrans.ge
The main activities of the company : short
time cargo
transportation in the region;
5. Tiflis City GIG
Group
Chavchavadze Str. 62
Tbilisi 0162
Georgia
Tel: (995 32) 290 338 / 912 607,
Fax: (995 32) 916 278
E-mail: tiflisicity@gig.ge
Currently Tiflis City implement "Sun
City" project in Batumi.
"Sun City" is the most exclusive
address in Batumi for living,
entertainment and business purposes.
6. Georgian Media
Incorporated Holding
Kostava Str. 75 b
Tbilisi 0179
Georgia
Tel: (995 32) 334 471 / 338 811
Fax: (995 32) 333 187
E-mail: zaza@gmi.ge
6. MZE TV
Kostava Str. 75 b
Tbilisi 0179
Georgia
Tel: (995 32) 212 111
E-mail: mze@mze.ge
7. Rustavi-2
45, Vazha Pshavela ave.
Tbilisi
Georgia
Tel: (995 32) 322 271 / 322 371
Fax: (995 32) 250 031
E-mail: tv@rustavi2.com
(Broadcasting Company)
8. Georgian
Business Consulting Ltd
Faliashvili Str. 85
Tbilisi 0179
Georgia
Tel: (995 32) 227 471 / 942 133
Fax: (995 32) 227 505
E-mail: info@gbc.ge
9. Globaltrans
Tsereteli ave 142
Tbilisi
Tel: (995 32) 355 952
Fax: (995 32) 355 952
10.Industria Kiri
Mshvidoba Str. 70
Rustavi
Georgia
Tel.: (995 99) 922 175
E-mail: industria_kiri@posta.ge
11.Durnuki Road
Metal Factory
village Durnuki
Tetritsyaro region
Tel: (995 32) 320 900
Mobile: (995 77) 503 844
12.Orbi
Dumbadze str. 12
Tetritsyaro region
Georgia
Tel: (995 95) 298 084
E-mail: orbikaspi@mail.ru
The Company is involved in the following activities :
Operators of a brewery,
producers of beer, energy drinks and lemonades.
NACE Code : 1105
Imports from Europe, Turkey, Germany, Czech Republic, Ukraine, France,
Russia and Armenia.
Exports to Azerbaijan, Armenia, USA, Ukraine, Kazakhstan, Uzbekistan and
Russia.
The Company has the following facilities :
Owned premises comprising administrative offices, a brewery with
production facilities as well as storage facilities located on 24 hectares plot
of land at the heading address.
Mtskheta Region
Saguramo 3311
You enquired on: JSC
GEORGIAN BEER COMPANY. Please note that this name applies to an English
translation of the subject’s name. Subject’s correct registered name is as per
heading.
Interviewed : Mariam Metskhi (Export Manager).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.10 |
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|
1 |
Rs.101.27 |
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Euro |
1 |
Rs.85.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
RATING EXPLANATIONS
|
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 |
|
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.