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Report No. : |
335776 |
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Report Date : |
13.08.2015 |
IDENTIFICATION DETAILS
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Name : |
SAS TRADE CENTER LTD |
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Registered Office : |
26 Maya Street
97 Surami Village Khashuri District |
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Country : |
Georgia |
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Date of Incorporation : |
22.08.2013 |
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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 : |
35 |
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 100,000 |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Georgia |
C1 |
C1 |
|
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 of 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. Since 2012, the Georgian Dream-led government has 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 published its 2020 Economic Development Strategy in early 2014 and former Prime Minister Bidzina IVANISHVILI launched the Georgian Co-Investment Fund, a $6 billion private equity fund that will invest in tourism, agriculture, logistics, energy, infrastructure, and manufacturing. In mid-2014, Georgia signed an association agreement with the European Union, paving the way to free trade and visa-free travel.
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Source
: CIA |
Savachro Tsentri SAS ShPS
(Correct)
SAS TRADE CENTER LTD
(Requested)
Street : Agladze Street 1
Town : Tbilisi 0101
Country : Georgia
Telephone :
(995 32) 243 8551 / Mobile (995
568) 331 133 (Nana
Lomaia) / (995 591) 700
444 (Gaga Bitadze)
Fax : (995 32) 243 8551
E-Mail : bitadzegaga@gmail.com /
nanalomaia@hotmail.com
Website : www.isani.ge
Trading Style :
Isani Trade Centre
Extended Name : Savachro Tsentri SAS Shazguduli
Pasukhismbgeblobis
Sazagadoeba
English Translation :
SAS Trade Centre Ltd
Also Known As :
Isani Trade Center
Name Position
1. Gaga Bitadze Managing
Director
2. Nana Lomaia Chief
Accountant
Total Employees :
35
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 100,000
Trade risk assessment: Normal
NAME
: TBC BANK
Branch
: Marjanishvili Street 7
Town
: Tbilisi 0102
Telephone : (995 32) 227 2727
Fax : (995 32) 277 2774
Subject also has an account with :
Bank of Georgia
Gagarin Street 29 A
Tbilisi 0160
Telephone : (995 32) 244 4444
Private companies in Georgia are not required to
publish or disclose balance sheets. However, the subject interviewed offered
the following information :
Sales Turnover :
LARI 5,000,000 - 2014 - exact
: LARI 10,000,000 - 2015 - projected
Net Profit :
LARI 30,000 - 2014 - exact
Financial year ends 31 December.
Date Started :
22 August 2013
History : Subject was
established in Tbilisi on 22 August 2013 and started trading in September 2013.
ID Code : 443857505
Authorised Capital : LARI 500,000
Paid-Up Capital : LARI
500,000
Shazguduli Pasukhismbgeblobis Sazagadoeba (Limited
Liability Company) ShPS) with the following sole shareholder :
Gaga Bitadze 100%
(Georgian national / Personal No.: 57001007815)
The Company is involved in the following activities
:
Trading as importers, wholesalers and retailers of
building materials.
NACE Code : 4613
Imports from Poland and Ukraine.
Subject does not export, all sales are domestic.
Distributors for Kerasus, Baxi, Baymak,
Yuksel-Seramik, Anka, Polisan, Egevitrifiy, Fildisi Su Armaturleri, Firat,
Tamsa and Badella.
The Company has the following facilities :
Rented 1,800 sq. m. premises comprising
administrative offices, a retail outlet and storage facilities located at the
heading address as well as 1,000 sq. m. additional administrative offices and 2
retail outlet located elsewhere in Tbilisi (see 'Branch Offices' below).
26 Maya Street 97
Surami Village
Khashuri District
Agladze Street 32
Tbilisi 0101
You enquired on: SAS Trade Center 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 : 26 Maja 97,
Haszuri Surami Gruzja is misspelt and applies to subject`s registered address.
Please note that subject's administrative office address is as per heading.
Interviewed: Nana Lomaia (Chief Accountant).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.83 |
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UK Pound |
1 |
Rs.101.00 |
|
Euro |
1 |
Rs.71.82 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TRU |
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 |
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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.