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Report Date : |
13.08.2014 |
IDENTIFICATION DETAILS
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Name : |
L.A.N.G. SHPS |
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Registered Office : |
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Country : |
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Date of Incorporation : |
18.01.2008 |
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Legal Form : |
Limited liability company |
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Line of Business : |
Trading as importers, wholesalers and retailers of building materials |
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No of Employees : |
17 |
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 : |
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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Georgia |
B2 |
B2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
GEORGIA ECONOMIC OVERVIEW
Georgia's main economic activities include cultivation of agricultural products such as grapes, citrus fruits, and hazelnuts; mining of manganese, copper, and gold; and producing alcoholic and nonalcoholic beverages, metals, machinery, and chemicals in small-scale industries. 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 South Caucasus 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. The expansion of the South Caucasus pipeline, as part of the Shah Deniz II Southern Gas Corridor project, will result in a $2 billion foreign investment in Georgia, the largest ever in the country. Gas from Shah Deniz II is expected to begin flowing in 2019. 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% in 2009 as foreign direct investment and workers' remittances declined in the wake of the global financial crisis. The economy rebounded in 2010-13, but FDI inflows, the engine of Georgian economic growth prior to the 2008 conflict, have not recovered fully. Unemployment has also remained high. Georgia has historically suffered from a chronic failure to collect tax revenues; however, since 2004 the government 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. The government has received high marks from the World Bank for its anti-corruption efforts. Over the past year the Georgian Dream-led government continued the previous administration's low-regulation, low-tax, free market policies, while modestly increasing social spending, strengthening anti-trust policy, and amending the labor code to comply with International Labor Standards. The government is finalizing its 2020 Economic Development Strategy and has launched the Georgia Co-Investment Fund, a $6 billion private equity fund that will invest in tourism, agriculture, logistics, energy, infrastructure, and manufacturing.
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Source
: CIA |
L.A.N.G. ShPS (Correct)
L A N G Ltd (Requested)
Street :
Tsereteli Avenue 115
Area :
Didube-Chugureti District
Town :
Tbilisi 0119
Country : Georgia
Telephone :
(995 32) 234 4717 / Mobile (995 591) 194 807
Fax :
(995 32) 266 1433
E-Mail :
lang.co.ltd@gmail.com
Extended Name : L.A.N.G.
Shazguduli Pasukhismbgeblobis Sazagadoeba
English Translation :
L.A.N.G. Ltd
Name Position
1. Ilia Iakobishvili Managing Director
2. Kiko Solomnishvili Import Manager
Total Employees : 17
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.
Trade risk assessment:
Normal
NAME :
TBC-BANK (TBILISI BUSINESS CENTRE BANK)
Branch :
Chavchavadze Avenue 11
Town :
Tbilisi 0179
Telephone : (995 32) 229 1693
Fax :
(995 32) 229 1693
The company also has an
account with:
Bank of Georgia
Pushkin Street 3
Tbilisi 0107
Telephone : (995 32) 299 7726 / 298 5304
Fax :
(995 32) 299 7726
Private companies in Georgia
are not required to publish or disclose balance sheets. However, the subject
interviewed offered
the following information :
Sales Turnover :
LARI 2,500,000 - 2013 - exact
: LARI 3,000,000 - 2014 – projected
Net Profit :
not given but stated to be profitable
Financial year ends 31
December.
Date Started : 18 January 2008
History : The subject company
was established in Georgia on 18 January 2008.
ID Code : 205237484
Capital : not given
Shazguduli
Pasukhismbgeblobis Sazagadoeba (limited liability company) with the following
sole shareholder:
Ilia Iakobishvili 100%
(Georgian national /
Personal No.: 14001001036 / resides at: Masivi VII, Block 6, Apartment 30)
The Company is involved in
the following activities :
Trading as importers,
wholesalers and retailers of building materials.
NACE Code : 4613
Imports from Turkey, China,
Italy and Spain.
Subject does not export,
all sales are domestic.
The Company has the
following facilities :
3-storey rented premises
comprising administrative offices, a retail outlet and storage facilities
located at the heading address as well as warehouse facilities located at T.
Ersitavi Street 1, Didube-Chugureti District, Tbilisi 0192.
Until 2013, subject was
located at:
Tsereteli Avenue 139
Tbilisi
Pekini Street 41
Vake District
Tbilisi
You enquired on: L A N G
Ltd. Please note that this name applies to an English translation of the
subject’s name. Subject’s correct registered name is as per heading.
The address which you
provided: Tsereteli Avenue 139 applies to subject's former address. Please note
that subject's current administrative office address is as per heading.
Interviewed: Kiko
Solomnishvili (Import Manager).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 61.18 |
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|
1 |
Rs. 102.55 |
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Euro |
1 |
Rs. 81.77 |
INFORMATION DETAILS
|
Analysis Done by
: |
KRN |
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Report Prepared
by : |
DPT |
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.