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Report No. : |
351393 |
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Report Date : |
01.12.2015 |
IDENTIFICATION DETAILS
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Name : |
ASP-JORJIA SHPS |
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Registered Office : |
Javakheti Street 64 Isani-Samgori District Tbilisi 0182 |
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Country : |
Georgia |
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Date of Incorporation : |
08.11.2001 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as importers,
wholesalers and retailers of auto spare parts. |
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No. of Employee : |
100 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
LARI 135,000 |
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Status : |
Satisfactory |
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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) |
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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 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 |
ASP-JORJIA SHPS (CORRECT)
ASP-GEORGIA
(REQUESTED)
Street : Javakheti Street 64
Area :
Isani-Samgori District
Town :
Tbilisi 0182
Country :
Georgia
Telephone :
(995 32) 273 1010
Fax :
(995 32) 273 1010
E-Mail
: info@asp.ge /
n.jajanashvili@asp.ge
Website
: www.asp.ge
Extended Name
: ASP-Jorjia Shazguduli Pasukhismbgeblobis
Sazagadoeba
English Translation : ASP-Georgia Ltd
Name Position
1. Simoni
Kumelashvili Managing Director
2. Nina
Jajanashvili Chief Accountant
Total Employees : 100
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 135,000
Trade risk
assessment: Normal
NAME :
PROCREDIT BANK JSC
Branch :
Agmashenebeli Avenue 154
Town :
Tbilisi 0112
Telephone : (995 32) 220 2222
Fax
: (995 32) 225 0580
Subject also has an account with :
Bank of Georgia JSC
Gagarin Street 29A
Tbilisi 0160
Telephone : (995 32) 244
4444
Fax : (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 3,667,000 - 2013 - exact
: LARI 6,792,000 - 2014 - exact
: LARI 5,451,000 -
2015 – exact *
: LARI 6,000,000
– 2015 – projected
Net Profit :
LARI 492,000 - 2013 - exact
: LARI 457,000 -
2014 - exact
* 10 months
results (January - October).
Financial year ends
31 December.
Date Started : 8 November 2001
History :
The subject company was established in Georgia on 8 November 2001.
C.R. No. : 7/4-1921
ID Code : 208215331
Authorised Capital
: LARI 77,000
Paid-Up Capital : LARI 77,000
Shazguduli
Pasukhismbgeblobis Sazagadoeba (limited liability company) ShPS) with the
following director and shareholders :
Director
Simoni Kumelashvili
(Georgian national / Personal No.: 36001002745)
Shareholders Percentage
1. Simoni Kumelashvili 50%
(Georgian national
/ Personal No.: 36001002745)
2. Davit
Kezherashvili
50%
(Georgian national / Personal No.: 12002000951)
The Company is
involved in the following activities :
Trading as
importers, wholesalers and retailers of auto spare parts.
NACE Code: 4540
Imports from
Europe, Germany, Italy, Poland, China and UAE (Dubai).
Subject does not
export, all sales are domestic.
Distributors for
Meyle, Dayco, Optimal, Monroe, Lpr, Nissens, Trw, Auradia, Cofle, Delta
Autotec, Facet, K&F, Saleri and Trucktec.
The Company has
the following facilities :
Owned premises comprising
administrative offices located at the heading address as well as 16 branches
located elsewhere in Rustavi (1 showroom), Poti (1 showroom) and 14 branches in
Tbilisi (see 'Branch Offices' below).
Javakheti Street
64
Isani-Samgori
District
Tbilisi 0182
1. Showroom
V. Bagrationi Street 13
Didube-Chugureti District
Tbilisi 0154
Telephone: (995 591) 912 795
2. Showroom
Kutaisi Street 28
Didube-Chugureti District
Tbilisi 0154
Telephone: (995 591) 912 794
3. Warehouse
Tsulukidze Street 3/5
Isani-Samgori District
Tbilisi 0190
Telephone: (995 32) 245 7178
4. Technical
Service Center
Gakhokidze Street 4
Isani-Samgori District
Tbilisi 0182
5. Showroom /
Warehouse
Gakhokidze Street 6
Isani-Samgori District
Tbilisi 0182
6. Showroom /
Warehouse
Didube Street 13
Didube-Chugureti District
Tbilisi 0154
You enquired on: ASP-GEORGIA.
Please note that the
correct name is as per heading.
The telephone number
provided by you: +995-59 840 5458 was not verified. Please note that subject's
correct telephone numbers are as per heading.
Interviewed: Nina
Jajanashvili (Chief Accountant).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.81 |
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|
1 |
Rs.100.37 |
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Euro |
1 |
Rs.70.68 |
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LARI |
1 |
Rs.27.78 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
ANK |
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.