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Report No. : |
329774 |
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Report Date : |
11.07.2015 |
IDENTIFICATION DETAILS
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Name : |
VIVA PLASTIK SHPS |
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Registered Office : |
Ketevan Tsamebuli Avenue 53A, Isan Samgori District, Tbilisi 0144 |
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Country : |
Georgia |
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Date of Incorporation : |
18.03.1996 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesale of construction supplies including windows, window shutters
and blinds. |
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No. of Employees : |
2 [Administrative] |
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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Status : |
Moderate |
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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
|
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 |
In absence of financials, no credit limit could be recommended.
CO. NAME: VIVA
PLASTIK SHPS (CORRECT)
VIVA PLASTIC LDT (REQUESTED)
Street : Ketevan Tsamebuli Avenue 53a
Area : Isan Samgori District
Town : Tbilisi 0144
Country : Georgia
Telephone : (995 32) 245
4499 / Mobile (995 599) 175 757 (Giorgi Sikharulidze)
Fax : (995 32) 245 4499
E-Mail : giorgi@viva-plastic.com
Extended Name: Viva Plastik Shazguduli Pasukhismbgeblobis Sazagadoeba
Name In English: Viva Plastic Ltd
Name Position
Giorgi Sikharulidze
Managing Director
Total Employees : 2
(administrative staff)
Current trade experience of payments has not been traced.
Subject declined to give any financial, general background or antecedent
information or to reveal the extent of the company’s operation.
Information in this report was obtained from third party sources.
Opinion on maximum credit : We have insufficient basis on which to speak
for unsecured credit and recommend international suppliers deal cash or
pre-paid basis.
Trade risk assessment : High
It is normal accepted practice for international suppliers to deal on
secured terms with Georgian importers.
Subject declined to name its bankers.
Private companies in Georgia are not required to publish or disclose
balance sheets. Balance sheets are not available from other sources, and the
subject interviewed declined to give any financial information, which the
company regards as strictly confidential.
Date Started : 18 March 1996
History : Subject was established in Tbilisi on 18 March 1996.
C.R. No. : 7/240
ID Code : 206066406
Capital : not given
Shazguduli Pasukhismbgeblobis Sazagadoeba (Limited Liability Company)
ShPS) with the following sole shareholder :
Giorgi Sikharulidze 100%
(Georgian national / Personal No.: 01011009046)
Affiliated companies of Viva Plastik ShPS :
Associates
1. Viva Group ShPS
Ialbuzi Street 12
Insan Samgoris District
Tbilisi
Est. Date: 04/06/2013
ID Code : 406095327
2. Viva-Jaluzi ShPS
Ialbuzi Street 12
Insan Samgoris District
Tbilisi
Est. Date: 03/06/2013
ID Code : 406095256
3. Argo ShPS
Ialbuzi Street 12
Insan Samgoris District
Tbilisi
Est. Date: 13/09/2013
ID Code : 406076142
4. Kedari ShPS
Rustavisgzat Street 12a
Insan Samgoris District
Tbilisi
C.R. No. : 06/4-726
Est. Date: 21/01/1998
ID Code : 204402672
5. Kompania k 2
Gazbegi Gamz Street 47,
Building No. 27
Saburtalo District
Tbilisi
Est. Date: 06/09/2007
ID Code : 205220795
The Company is involved in the following activities :
Registered activity: Wholesale of construction supplies including
windows, window shutters and blinds.
NACE Code : 4613
Subject declined to provide its imports and exports details.
The Company has the following facilities :
Registered offices located at the heading address.
You enquired on : “VIVA PLASTIC LDT”. This name is misspelt and applies
to subject’s English translation name. Please note that subject’s correct registered
name is as per heading.
The telephone number given by you : “+99 532514499” is incomplete and
incorrect. Please note that subject’s correct telephone number is as per
heading.
Interviewed : Giorgi Sikharulidze (Managing Director).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.38 |
|
|
1 |
Rs.97.65 |
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Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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 |
-- |
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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.