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Report No. : |
357394 |
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Report Date : |
31.12.2015 |
IDENTIFICATION DETAILS
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Name : |
MAR-SA SHPS |
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Registered Office : |
Eliava
Street 10/22 Didubis District Tbilisi |
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Country : |
Georgia |
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Date of Incorporation : |
16.04.2010 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading
as importers, wholesalers and distributors of building materials. |
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No. of Employee : |
6 |
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 24,000 |
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Status : |
Small Company |
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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.
|
Source
: CIA |
Mar-Sa ShPS (Correct)
MAR SA SHPS (Requested)
Street :
Eliava Street 10/22
Area :
Didubis District
Town :
Tbilisi
Country :
Georgia
Mobile :
(995 599) 600 388
E-Mail :
marsa11@ymail.com
Extended Name : Mar-Sa Shazguduli Pasukhismbgeblobis Sazagadoeba
English Translation : Mar-Sa LLC
Name Position
Lasha
Martiashvili Managing Director
Total
Employees : 6
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 24,000
Trade
risk assessment: Normal
NAME :
PROCREDIT BANK JSC
Branch : Al. Kazbegi Avenue 21
Town :
Tbilisi0160
Telephone : (995 32) 202 2222
Fax :
(995 32) 220 2223
Subject
also has an account with :
Bank of Georgia JSC
Pushkin Street 3
Tbilisi 0107
Telephone : (995 32) 299 7726 / 298 5304
Fax :
(995 32) 299 7726
Private
companies in Georgia are not required to publish or disclose balance sheets.
However, the subject interviewed offered
the
following information :
Sales
Turnover : LARI 1,200,000 - 2014 - exact
: LARI 1,500,000 - 2015 - projected
Net
Profit : but stated to be 16-17% of the sales
turnover
Total
Value of Stock Held : LARI 400,000 (as of December 2015)
Financial
year ends 31 December.
Date Started
: 16 April 2010
History
: The subject company was established in Georgia on 16 April 2010, however its origins can be traced back to 1998.
ID
Code : 401946052
Authorised
Capital : LARI 200
Paid-Up
Capital : LARI 200
Shazguduli Pasukhismbgeblobis
Sazagadoeba (Limited Liability Company) ShPS) with the following sole
shareholder :
Lasha
Martiashvili
100%
(Georgian
national / Personal No. :
01010002017)
The
Company is involved in the following activities :
Trading
as importers, wholesalers and distributors of building materials.
Distributors
for:
-
Inetrabrasiv;
-
Klingspor.
NACE
Code : 4673
Imports
from Poland and Turkey, occasionally from Italy and Spain.
Subject
does not export, all sales are domestic.
The
Company has the following facilities :
Premises
comprising administrative offices, a warehouse and storage facilities located
at the heading address as well as rented storage facilities located elsewhere
in Tbilisi.
ELiava
Street 10/22
Didubis
District
Tbilisi
You
enquired on : “MAR
SA SHPS”. Please note that the correct name is as per heading.
Interviewed
: Lasha Martiashvili (Managing Director).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.42 |
|
|
1 |
Rs.98.55 |
|
Euro |
1 |
Rs.72.60 |
|
LARI |
1 |
Rs.27.71 |
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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|
|
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Report Prepared
by : |
TRU |
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 |
|
<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.