|
Report No. : |
332738 |
|
Report Date : |
27.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered Office : |
Zghvis Ubani (Temka)
III m/d, II Q., 29 Building, Flat 16, Gldani-Nadzaladevi, District Tbilisi
0197 |
|
|
|
|
Country : |
Georgia |
|
|
|
|
Date of Incorporation : |
13.06.2007 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Subject is
engaged in trading as importers, wholesalers and retailers of perfume and
cosmetics. |
|
|
|
|
No. of Employees : |
88 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
LARI 60,000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
Remi &
Kompani ShPS (Correct)
REMI & KOMPANI SH.P.S. (REMI & COMPANY LLC)
(Requested)
Street :
Kerchi Street 12
Area : Gldani-Nadzaladevi
District
Town : Tbilisi 0167
Country : Georgia
Mobile : (995 571) 100 303 / (995
577) 427 043 (Revazi Amirezashvili)
E-Mail : revaz_74@mail.ru
Trading Style : Cosmo Plyus
Extended Name : Remi & Kompani
Shazguduli Pasukhismbgeblobis Sazagadoeba
English Translation : Remi & Company
LLC
Name Position
Revazi Amirezashvili Managing Director
Total Employees :
88
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 60,000
Trade risk assessment: Normal
NAME
: BANK OF GEORGIA JSC
Branch
: Gagarin Street 29A
Town
: 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 3,000,000 - 2014 - exact
: LARI 4,000,000 - 2015 - projected
Net Profit
: but stated to be 25-30% of the
sales
turnover
Financial year ends 31 December.
Date Started :
13 June 2007
History :
The subject company was established in Georgia on 13 June 2007.
ID Code :
202392464
Authorised Capital :
US DLRS 1,500,000
Paid-Up Capital :
US DLRS 1,500,000
Shazguduli Pasukhismbgeblobis Sazagadoeba (limited
liability company) ShPS) with the following director and sole shareholder :
Director
Revazi Amirezashvili
(Georgian national / Personal No.: 01021011095)
Shareholder
Revazi
Amirezashvili
100%
(Georgian national / Personal No.: 01021011095)
The Company is involved in the following activities
:
Trading as importers, wholesalers and retailers of
perfume and cosmetics.
NACE Code: 4645
Imports from Poland, Ukraine and Turkey.
Subject does not export, all sales are domestic.
The Company has the following facilities :
Rented premises comprising administrative offices
located at the heading address as well as two retail outlets and storage
facilities located elsewhere in Tbilisi (see 'Branch Offices' below).
Subject owns 2-storey building located in
Gldani-Nadzaladevi, Zghvis Ubani (Temka) III m/d. The building is under
construction and will be used as a training center and retail outlet.
Subject plans to open additional two retail outlets
by 2015.
Zghvis Ubani (Temka) III m/d, II Q., 29 Building,
Flat 16
Gldani-Nadzaladevi District
Tbilisi 0197
1. Cosmo Plyus
Gldani-Nadzaladevi District, Metro Station Sarajishvili
Tbilisi
0167
2. Cosmo Plyus
Gldani-Nadzaladevi District, Metro Station Akhmeteli Area
Tbilisi 0172
You enquired on: REMI & KOMPANI SH.P.S. (REMI
& COMPANY LLC). Please note that the
correct name is as per heading.
The address provided by you: 3 MICRODISTRICT,
QUARTER 2, HOUSE 29, FLAT 16, TIBILISI, GRUSIA applies to subject's
registered office address. Please note that subject's operational office
address is as per heading.
Interviewed: Revazi Amirezashvili (Managing
Director).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.89 |
|
UK Pound |
1 |
Rs.99.10 |
|
Euro |
1 |
Rs.70.12 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
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 |
|
|
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.