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Report No. : |
315854 |
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Report Date : |
11.04.2015 |
IDENTIFICATION DETAILS
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Name : |
NGS GROUP LTD |
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Registered Office : |
Bagebi
Settlement 3, Building 15, Vake-Saburtalo District, Tbilisi 0162 |
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Country : |
Georgia |
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Date of Incorporation : |
25.07.2013 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
·
Trading
as Importers, Wholesalers and Retailers of Computers, Computer Peripheral
Equipment and Software. ·
Subject
provides software integration services. |
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No. of Employees : |
4 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 |
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.
|
Source
: CIA |
In absence of financials, no credit limit could be recommended.
En-Ji-Es Jgupi ShPS (Correct)
NGS Groupe
(Requested)
Street :
Dadiani Street 7
Town :
Tbilisi
Country :
Georgia
Mobile :
(995 595) 282 815 (Nika Pitskhelauri)
E-Mail : ngs.it.group@gmail.com /
info@ngsgroup.ge
Website : www.ngsgroup.ge
Extended
Name : En-Ji-Es Jgupi
Shazguduli Pasukhismbgeblobis Sazagadoeba
English
Translation : NGS Group Ltd
Name Position
Nika Pitskhelauri Managing
Director
Total Employees : 4
No trade experience of payments is available.
Subject is a newly established company incorporated
on 25 July 2013 and commenced trading in February 2014.
Opinion on maximum credit : As the subject has
recently been
established and has
no financial or
payment track
record, we recommend
dealing on fully
secured terms.
Trade risk assessment : High
It is normal accepted practice for international
suppliers to deal on secured terms with Georgian importers.
NAME :
PROCREDIT BANK JSC
Branch :
David Agmashenebeli Avenue 154
Town :
Tbilisi 0112
Telephone : (995 32) 220 2222
Fax :
(995 32) 225 0580
As the Subject has only recently started trading,
relevant financial information is not available. However, the subject
interviewed offered the following information :
Sales Turnover :
LARI 200,000 - 2014 – exact *
:
LARI 1,000,000 - 2015 - projected
Net Profit :
but stated to be 10% of the sales turnover
* First 10 months of operations (February -
December).
Financial year ends 31 December.
Date Started :
25 July 2013
History : The subject company was
established in Georgia on 25 July 2013 and commenced trading in February 2014.
ID Code :
405002606
Capital :
not given
Shazguduli Pasukhismbgeblobis Sazagadoeba (limited
liability company) ShPS) with the following director and shareholders :
Director
Nika Pitskhelauri
(Georgian national / Personal No.: 01008028653)
Shareholders Percentage
1. Giorgi Labadze 65%
(Georgian national / Personal No.: 01020012451)
2. Nika
Pitskhelauri
35%
(Georgian
national / Personal No.: 01008028653)
Affiliated
companies of the subject company :
Associate
NGB Group ShPS
Bagebi Settlement 3, Building 15
Vake-Saburtalo District
Tbilisi 0162
Managing Director: Nika Pitskhelauri
Est.: 14 November 2012
ID Code : 404964106
Shareholders:
-
Nika Pitskhelauri - 50%
-
Manana Chikovani - 50%
The Company is involved in the following activities
:
Trading as importers, wholesalers and retailers of
computers, computer peripheral equipment and software.
Subject provides software integration services.
NACE Code: 4651
Imports from Germany, Poland and China.
Subject does not export, all sales are domestic.
The Company has the following facilities :
Rented premises comprising administrative offices
and storage facilities located at the heading address.
Subject previously was located at :
Tskneti Highway 16/18
Vake-Saburtalo District
Tbilisi 0162
Bagebi Settlement 3, Building 15
Vake-Saburtalo District
Tbilisi 0162
You enquired on: NGS Groupe. Please note that the correct name is as per
heading.
The address provided by you: 3/15 Bagebit ST,
Tbilisi, Georgia applies to subject's registered office
address. Please note that subject's administrative office address is as per
heading.
Interviewed: Nika Pitskhelauri (Managing Director).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.37 |
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|
1 |
Rs.91.60 |
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Euro |
1 |
Rs.66.49 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
NIT |
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 |
-- |
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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.