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Report No. : |
323392 |
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Report Date : |
01.06.2015 |
IDENTIFICATION DETAILS
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Name : |
SAN-IMPORTI SHPS |
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Formerly Known As : |
SAN-IMPORTI SHAZGUDULI
PASUKHISMBGEBLOBIS SAZAGADOEBA |
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Registered Office : |
V. Gorgasali Street 113,
Flat 10 Batumi 6000 |
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Country : |
Georgia |
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Date of Incorporation : |
28.09.2011 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as importers,
wholesalers and retailers of sanitary ware, washing facilities, shower cubicle
and accessories. |
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No. of Employee : |
5 |
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 10,000 |
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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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 |
SAN-IMPORTI SHPS (CORRECT)
SAN IMPORT LTD (REQUESTED)
Street : Kindzmarauli Street 7
Area :
Isani-Samgori District
Town :
Tbilisi 0145
Country :
Georgia
Mobile :
(995 599) 288 828 (Avtandil Gegelia)
English Translation : San-Import Ltd
Also known as : San-Importi Shazguduli
Pasukhismbgeblobis Sazagadoeba
Name Position
Avtandil Gegelia Managing Director
Total Employees : 5
No complaints have been
heard regarding payments from local suppliers or banks.
We consider it is
acceptable to deal with subject for SMALL amounts, however in view of the lack
of financial information we recommend international suppliers exercise a degree
of caution.
Opinion on maximum credit :
LARI 10,000 (higher amounts may be
considered with full fiscal disclosure)
Trade risk assessment:
Normal
It is normal accepted
practice for international suppliers to deal on secured terms with Georgian
importers.
NAME : VTB BANK
GEORGIA (FORMER UNITED GEORGIAN BANK)
Branch : Uznadze
Street 37
Town : Tbilisi 0102
Telephone : (995 32) 250 5505 / 295 6085
Fax : (995 32) 299
9425
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.
The following financial
information is the latest available on the subject in our file :
Sales Turnover : LARI 300,000 - 2012 - exact
: LARI 400,000 -
2013 - projected
Net Profit : not given but stated to be
profitable
Financial year ends 31
December.
Date Started : 28 September 2011
ID Code : 445401654
Capital : not given
Shazguduli
Pasukhismbgeblobis Sazagadoeba (limited liability company) ShPS) with the following
director and sole shareholder :
Director
Avtandil Gegelia
(Georgian national / Personal No.: 61001022563)
Shareholder
Avtandil Gegelia 100%
(Georgian national / Personal No.: 61001022563)
Subject’s formerly affiliated company :
Kindzmarauli Marani ShPS
Sop Gavazi Stalinis Chiki
10
Qvarlis District
Georgia
Telephone: (995 32) 237
1424 / (995 595) 333 103
Fax : (995 32) 237 1424
E-mail : info@kmwine.ge
Website : www.kmwine.ge
Managing Director: Irakli
Talakhadze
Est.: 18 December 2001
ID Code : 241565891
Shareholders:
- Julieta Khoperia – 50.5%
(Personal No.: 65002011012)
- Maia Askurava - 39.5%
(Personal No.: 61001013883)
(Until 2011 Mr. Avtandil Gegelia had (7%)
interest in the above company)
The Company is involved in
the following activities :
Trading as importers,
wholesalers and retailers of sanitary ware, washing facilities, shower cubicle
and accessories.
NACE Code : 4673
Imports from Europe,
Poland, Germany and China.
Subject does not export,
all sales are domestic.
The Company has the following facilities :
Rented premises comprising
administrative offices and a retail outlet located at the heading address as
well as storage facilities located elsewhere in Tbilisi.
Formerly subject was
located at:
Tsereteli Avenue 117
Tbilisi
V. Gorgasali Street 113,
Flat 10
Batumi 6000
You enquired on: SAN IMPORT
LTD. Please note that the correct name is as per heading.
The address which you
provided: GORGASALI 113 / 10, BATUMI, GRUZJA applies to subject's registered
office address. Please note that subject's administrative office address is as
per heading.
The telephone number provided by you: 995 32 2355979 is unobtainable
(out of service). Please note that subject's correct telephone number is as per
heading.
Interviewed: Avtandil
Gegelia (Managing Director).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.76 |
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|
1 |
Rs.97.80 |
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Euro |
1 |
Rs.69.91 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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 |
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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.