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Report No. : |
330121 |
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Report Date : |
11.07.2015 |
IDENTIFICATION DETAILS
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Name : |
BRAVAT JORJIA SHPS |
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Registered Office : |
Samtredia Street 2, Flat 1,
Didube-Chughureti District, Tbilisi 0190
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Country : |
Georgia |
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Date of Incorporation : |
10.10.2014 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is engaged in trading as importers
and distributors of building materials and sanitary ware |
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No. of Employee : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New business |
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Payment Behaviour : |
Unknown |
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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
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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 |
In absence of financials, no credit limit could be recommended.
BRAVAT JORJIA SHPS (Correct)
BRAVAT GEORGIA LLC (Requested)
Street : Samtredia Street 2, Flat 1
Area : Didube-Chughureti District
Town : Tbilisi 0190
Country : Georgia
Mobile : (995 555) 541 145 (Aleksandre
Saqvarelidze)
E-Mail : bravatgeorgia@gmail.com
Extended Name : Bravat Jorjia Shazguduli
Pasukhismbgeblobis Sazagadoeba
English Translation : Bravat
Georgia LLC
Name Position
1. Ani Kekua Managing Director
2. Aleksandre Saqvarelidze Executive
Director
Total Employees :
5
No trade
experience of payments is available.
Subject is a newly
established company incorporated on 10 October 2014.
Opinion on maximum
credit : As the company has recently been established and has no financial or
payment track record, we recommend
dealing on fully secured terms.
Trade risk
assessment : High
It is normal
accepted practice for international suppliers to deal on secured terms with
Georgian importers.
NAME : BANK of GEORGIA JSC
Branch : Gagarin Street 29A
Town : Tbilisi 0160
Telephone:
(995 32) 244 4444
Fax : (995 32) 244 4444
As the Company has
only recently been established, relevant financial information is not
available. However, the subject interviewed offered the following information :
Sales
Turnover : LARI 500,000 - 2015 - projected
Net Profit : but stated to be 15-25% of the
sales
turnover
Financial year
ends 31 December.
Date Started : 10
October 2014
History : The
subject company was established in Georgia on 10 October 2014.
ID Code :
402004503
Authorised Capital
: LARI 50
Paid-Up Capital :
LARI 50
Shazguduli
Pasukhismbgeblobis Sazagadoeba (limited liability company) ShPS) with the
following director and shareholders :
Ani Kekua
(Georgian national
/ Personal No.: 01008041737)
Shareholders Percentage
1. Ani Kekua
50%
(Georgian national / Personal No.:
01008041737)
2. Sopio Murvanidze-Saqvarelidze 50%
(Georgian national
/ Personal No.: 01017027175)
The Company is
involved in the following activities :
Trading as
importers and distributors of building materials and sanitary ware.
NACE Code: 4690
Imports from
Poland and China.
Subject does not
export, all sales are domestic.
The Company has
the following facilities :
Owned premises
comprising administrative offices located at the heading address as well as one
branch office and storage facilities located elsewhere in Tbilisi.
Samtredia Street
2, Flat 1
Didube-Chughureti
District
Tbilisi 0190
You enquired on: BRAVAT
GEORGIA LLC. 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:
Aleksandre Saqvarelidze (Executive Director).
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.38 |
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|
1 |
Rs.97.65 |
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Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
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Analysis Done by
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RAS |
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Report Prepared
by : |
ASH |
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.