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Report No. : |
337922 |
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Report Date : |
26.08.2015 |
IDENTIFICATION DETAILS
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Name : |
KOMPANIA
JAOKENI SHPS |
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|
|
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Registered Office : |
Tomike
Eristavi Street 1, Didube-Chugureti District, Tbilisi
0192 |
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Country : |
Georgia |
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Date of Incorporation : |
02.10.1997 |
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Com. Reg. No.: |
1/4-702 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading
as Importers, wholesalers and retailers of construction and finishing
materials. |
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No. of Employees : |
130
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limits |
LARI
295,000 |
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|
|
|
Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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|
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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 |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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.
|
Source
: CIA |
Kompania Jaokeni ShPS (Correct)
JAEKENI COMPANY (Requested)
Street : Tomike Eristavi Street 1
Area : Didube-Chugureti District
Town : Tbilisi 0192
Country : Georgia
Telephone
: (995 32) 269 9697 ext.105 (Nana Kvachakhia) / Mobile
(995 593) 258 535 (Nana Kvachakhia)
Fax :
(995 32) 269 3031
E-Mail :
info@jaokeni.ge / nana@jaokeni.ge
Website : www.jaokeni.ge
Trading Style : Jaokeni
Extended Name : Kompania Jaokeni Shazguduli Pasukhismbgeblobis Sazagadoeba
English Translation :
Company Jaokeni Ltd
Name Position
1.
Jemali Jaoshvili Managing Director
2.
Nana Kvachakhia Import Manager
Total
Employees : 130
No
complaints have been heard regarding payments from local suppliers or banks.
We
consider it is acceptable to deal with subject for MEDIUM amounts, although it
is normal accepted practice for international suppliers to deal on secured
terms with Georgian importers.
Opinion
on maximum credit : LARI 295,000
Trade
risk assessment: Normal
NAME : BANK OF GEORGIA JSC
Branch : Gagarin Street 29A
Town : Tbilisi 0160
Telephone:
(995 32) 244 4444
Fax : (995 32) 244 4444
Subject also has an account with :
TBC Bank (Tbilisi Business
Centre Bank)
Chavchavadze Avenue 11
Tbilisi 0179
Telephone: (995 32) 229
1693
Fax : (995 32) 229 1693
Private
companies in Georgia are not required to publish or disclose balance sheets. However,
the subject interviewed offered the following information :
Sales
Turnover : LARI
14,796,540 - 2014 – exact
: LARI
11,433,591 – 2015 – exact *
: LARI 17,000,000 – 2015 - projected
Net
Profit : LARI 4,245,533 - 2014 – exact
: LARI 1,488,543 – 2015 – exact *
*
6 months results (January-June).
Financial
year ends 31 December.
Date
Started : 2 October 1997
History
: Subject company was established in Georgia on 2 October 1997.
C.R.
No. : 1/4-702
ID
Code : 200031241
Authorised
Capital : LARI 3,450
Paid-Up
Capital : LARI 3,450
Shazguduli Pasukhismbgeblobis
Sazagadoeba (Limited Liability Company) ShPS) with the following director and
shareholders :
Director
Jemali Jaoshvili
(Georgian national /
Personal No.: 01023001565)
Shareholders Percentage
1.
Jemali Jaoshvili 50%
(Georgian national / Personal No.:
01023001565)
2.
Ioseb Jaoshvili 50%
(Georgian national / Personal No.: 01023001564)
Affiliated
companies of the subject company :
Associate
Kompania
Jaokeni Motorsi
Eristavi
Street 1
Nadzaladevi
District
Tbilisi
Managing
Director:
Est.:
25 June 2007
ID
Code: 200234772
Shareholders:
- Ioseb Jaoshvili 37.5%
- Jemal Jaoshvili 37.5%
- Malkhaz Sheqriladze 25%
The
Company is involved in the following activities :
Trading
as importers, wholesalers and retailers of construction and finishing
materials.
NACE
Code: 4690
Imports
from Germany, Spain, Italy, China and Ukraine.
Subject
does not export, all sales are domestic.
The
Company has the following facilities :
Owned
premises comprising administrative offices, a retail outlet and storage
facilities located at the heading address as well as 4 retail outlets located
elsewhere in Georgia (see 'Branch Offices' below).
Tomike
Eristavi Street 1
Didube-Chugureti
District
Tbilisi
0192
1.
Retail Outlet “Jaokeni”
Pushkin Street 51
Batumi 6000
2.
Retail Outlet “Jaokeni”
Nikea Street 42
Kutaisi 4600
Telephone: (995 43) 123 3220
3.
Retail Outlet “Jaokeni”
Davitashvili Street 4
Telavi 2200
4.
Retail Outlet “Jaokeni”
Chkondideli Street 10
Senaki 4106
Mobile: (995 591) 194 859
You
enquired on: Jaekeni 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:
Nana Kvachakhia (Import Manager).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.71 |
|
|
1 |
Rs.105.10 |
|
Euro |
1 |
Rs.77.11 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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|
|
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Report Prepared
by : |
NIT |
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 |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
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.