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Report No. : |
351390 |
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Report Date : |
01.12.2015 |
IDENTIFICATION DETAILS
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Name : |
IBERIA TEK AVTOMOTIVI SHPS |
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Registered Office : |
Marshal Gelovani Avenue 36 Vake-Saburtalo District Tbilisi 0159 |
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Country : |
Georgia |
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Date of Incorporation : |
06.09.2006 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as importers, wholesalers, retails
and distributors of automotive
spare parts, accumulator batteries, shock-absorbers, tires, auto chemical
products, car accessories and service equipment. |
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No. of Employee : |
52 |
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 300,000 |
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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 |
IBERIA TEK AVTOMOTIVI SHPS (CORRECT)
IBERIA TECH AUTOMOTIVI SH.P.S (WERSJA ANG:
IBERIA TECH AUTOMOTIVE LTD) (REQUESTED)
Street :
Marshal Gelovani Avenue 36
Area :
Vake-Saburtalo District
Town :
Tbilisi 0159
Country
: Georgia
Telephone : (995 32) 254 0000 ext. 102 (Chief
Executive Officer) / Mobiles (995 577) 224 545 / (37 25) 730 5030
(International) (Lasha Migineishvili) / (995 775) 540 035 (Ina Melaze)
Fax :
(995 32) 251 7517
E-Mail :
info@ita.com.ge / l.migineishvili@ita.com.ge
Website
: www.ita.com.ge
Shortform
Name : ITA
Extended Name : Iberia Tek Avtomotivi Shazguduli Pasukhismbgeblobis Sazagadoeba
English
Translation : Iberia Tech
Automotive LLC
Name Position
1. Lasha Migineishvili (Mr) Chief
Executive Officer
2. Avtandil Gogilidze Deputy
CEO
3. Ina Melaze Accountant
Total
Employees : 52
No complaints have been heard regarding payments
from local suppliers or banks.
Subject is a member of Iberia Business Group which
was established in
1999. In 2001 it was already a united, powerful
trade-industrial
holding. Iberia Business Group imports and sells
brand new cars and provides all the services related to vehicle exploitation.
IBG is an official representative of the following automotive brands :
Volkswagen, Audi, Skoda Auto, Mitsubishi Motors, Peugeot, Kia Motors and
Renault. At present, IBG comprises 14 companies involved in import and sales of
automobiles and industrial oil lubricants, spare parts, tires, fuel and
technical services. The Group employs 300 people.
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 300,000
(associations inspire
confidence for
higher amounts if
required)
Trade risk assessment: Normal
NAME :
BANK OF GEORGIA JSC
Branch :
Gagarin Street 29A
Town :
Tbilisi 0160
Telephone : (995 32) 244 4256
Fax :
(995 32) 244 4289
Private companies in Georgia are not required to publish
or disclose balance sheets. However, the subject interviewed offered the
following information :
Sales Turnover :
LARI 14,656,026 - 2014 – exact
: LARI 14,500,000 – 2015 – exact *
Net Profit :
LARI 81,589 – 2014 – exact
* 9 months results (January - September).
Financial year ends 31 December.
Date Started :
6 September 2006
History : Subject was established in Georgia on 6
September 2006. Initially, subject’s shareholding structure was as follows :
- Tariel Khachikashvili
- Gocha Nukeidze
- Mikhail Alkhanishvili
- Giorgiy Polikashvili
In 2013, subject’s shareholding structure changed to
the present.
ID Code :
236093473
Authorised Capital :
LARI 200
Paid-Up Capital :
LARI 200
Shazguduli
Pasukhismbgeblobis Sazagadoeba (Limited Liability Company) ShPS) with the
following director and shareholders :
Director
Lasha
Migineishvili
(Georgian
national / Personal No. : 01010007215)
Shareholder Percentage
1. Sport
Investi ShPS 50%
Marshal Gelovani Avenue (Plot 4/5)
Didube-Chughureti District
Tbilisi 0159
Telephone: (995 577) 222 236
Managing Director : Gigla Kalandadze
Est. : 10 June 2013
ID Code : 401984616
Shareholders :
- Ekaterine Inasaridze 33.34%
- Madona Tamazashvili 33.33%
- Tamar Gvazava 33.33%
2. Iberia Investi ShPS 25%
D. Aghmashenebeli Alley 9 km
Vake-Saburtalo District
Tbilisi 0131
Telephone: (995 32) 253 2111
Managing Director : Mamuka Gogishvili
Est. : 10 July 2007
ID Code : 236096023
Shareholders :
-
Sport Invest LLC 50%
- Tariel Khechikashvili 25%
- Iberia Business Group LLC 25%
(registered address : D. Aghmashenebeli
Street, Mtskheta 3300)
3.
Richard Saller LLC 25%
Marshal Gelovani Avenue, Plot 4/5
Vake-Saburtalo District
Tbilisi 0159
Telephone: (995 577) 222 236
Est. : 26 March 2012
ID Code : 404419553
(registered address : I. Nikoladze Street 2/4,
Flat No. 30, Old
Tbilisi District, Tbilisi 300179
Affiliated companies of Iberia Tek Avtomotivi ShPS :
Associates
Subject
is a member of the Iberia Business
Group of Companies, headed by :
Iberia
Biznes Jgupi ShPS
Davit
Aghmashenebeli Alley 9th km
Tbilisi
0159
Telephone:
(995 32) 253 2111
Fax : (995 32) 252 5365
Managing
Director : Davit Gogorishvili
C.R.
No. : 5/4-3053
Est.
: 25 December 2001
ID
Code : 204975376
Shareholders
:
- Sport Invest LLC 66.67%
- Tariel Khechikashvili 33.33%
Other
members of the group includes the following companies :
1.
Kres Gmbh Auto Haus ShPS
David Agmashenebeli Avenue 12th
km
Tbilisi 0159
Telephone:
(995 32) 506 606
Fax
: (995 32) 241 114
Est. : March 2006
ID Code : 236090939
(importers and retailers of Audi,
Volkswagen, Skoda vehicles
& related spare parts)
2.
Kia Motors Georgia
David Aghmashenebeli Alley 2nd km
Telephone: (995 32) 240 101
3.
Iberia Servisi ShPS
Davit Aghmashenebeli Street
Mtskheta
Managing Director : Davit Jokhadze
Est. : 12 April 2002
C.R. No. :
5/4-3165
ID Code : 204982359
Shareholders :
- Sport Invest LLC 40%
- Giorgi
Nemsadze 20%
- Ekaterine Inasaridze 20%
- Iberia Investi ShPS 20%
(technical & guarantee services)
4.
Iberia Auto Haus ShPS
Tbilisi
Telephone: (995 32) 911 911
Fax
: (995 32) 523 565
(import & realization of pre-owed cars)
5.
Iberia Motors ShPS
I. Abashidze Street 41
Telephone: (995 32) 251 023
Fax
: (995 32) 251 023
(Peugeot official representative in Georgia)
6.
Ibermobili ShPS
Davit Aghmashenebeli Street
Mtskheta
Managing Director : Avtandil Gogilidze
Est. : 06 November 2000
C.R. No. :
1/4-1263
ID Code : 209482736
Shareholders :
- Sport Invest LLC 50%
- Iberia Investi 25%
- Ekaterine Inasaridze 25%
(import & sale industrial &
automobile oil-lubricants)
7.
Georgian Trade Corporation
Tabidze street 3/5
Telephone: (995 32) 990 818
Est. : 2006
(representatives for Trussardi, Bally &
Cacharel)
8.
Iberia Treiding ShPS
S. Dighomi
Vake-Saburtalo
District
Tbilisi
Managing
Director : Zaza Nozadze / Davit Gogorishvili
Est. : 20
April 2004
C.R. No. :
46/5/b-182
ID Code :
236081841
Shareholders :
- Sport Invest LLC 75%
- Iberia Investi ShPS 25%
9.
Iberia Avto ShPS
Davit Aghmashenebeli Street
Mtskheta
Managing
Director : Aleksandre Khutsishvili
Est. : 01
July 2009
ID Code :
236098129
Shareholders :
-
Tariel Khechikashvili 60%
-
Giorgi Nemsadze 20%
- Sport Invest LLC 20%
10.Iberia
Siti ShPS
Davit Aghmashenebeli Street
Mtskheta
Est. : 03
August 2005
C.R. No. :
06/5/b-714
ID Code :
202277455
Shareholders :
- Sport Invest LLC 50%
- Iberia Investi 25%
- Ekaterine Inasaridze 25%
11.Football Club
Saburtalo ShPS
M. Asatiani Street 7A
Tbilisi
Telephone:
(995 32) 231
1128 / Mobile (995 593) 246 385 (Miss.
Nukri)
Fax : (995 32) 231 1128
President
: Tariel Khechikasshvili
Est. : 20
August 1999
C.R. No. :
5a/4-2239 (issued on 20 August 1999)
ID Code :
211389665
Shareholders :
- Sport Invest LLC 35%
- Ekaterine Inasaridze 35%
(Georgian national / Personal No. :
01036003559)
- Kartlos Chumburidze 20%
- Giorgi Nemsadze 10%
(Georgian National / Personal No. :
01019000385)
The Company is involved in the following activities
:
Trading
as importers, wholesalers, retails and distributors of automotive spare parts, accumulator
batteries, shock-absorbers, tires, auto chemical products, car accessories and
service equipment.
Subject
provides auto services.
Distributors
for :
-
Banner;
- Pirelli;
- Continental;
- Amega;
- Mobil 1;
- Febi;
- Bilstein;
- Kavo Partsa.
Subject's
principal suppliers include :
-
Robert Bosh;
-
Otomotiv Lastikler;
-
Omnicar;
-
Total Helas;
-
Lotos Oil;
-
Megatex;
-
Rombat.
NACE
Code : 4532
Imports
from Germany, Austria, France, Belgium, Italy, Bulgaria,
Romania,
Turkey, Ukraine, Poland, China, Brazil and USA.
Subject
does not export, all sales are domestic.
The Company has the following facilities :
Owned
premises comprising
administrative offices, a retail outlet, a maintenance
centre and warehousing facilities located at the heading address as well as one
branch office, one retail outlet and a warehouse located elsewhere in Batumi (see
'Branch Office' below).
Subject plans to open one retail outlet in Tbilisi
by 2017.
Subject
previously was located at :
Marshal
Gelovani Avenue 1
Digomi
Area
Tbilisi
D. Aghmashenebeli Street
Mtskheta 3300
Chavchavadze Street 21
Batumi 6000
Telephone: (995 577) 550 207
You enquired on : “IBERIA TECH AUTOMOTIVI SH.P.S (WERSJA ANG:
IBERIA TECH AUTOMOTIVE LTD)”. Please note that the correct name is as per
heading.
The
telephone number which you provided : "995 (32) 253-21-11” applies to Iberia Business
Group of Companies. Please note that subject’s correct
administrative office telephone numbers are as per heading.
Interviewed : Lasha Migineishvili (Chief Executive
Officer).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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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 |
|
LARI |
1 |
Rs.27.77 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
HNA |
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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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
-- |
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.