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Report No. : |
323808 |
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Report Date : |
04.06.2015 |
IDENTIFICATION DETAILS
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Name : |
ENERGISSIMO SHPS |
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Registered Office : |
Kindzmarauli
Street 7, Isani-Samgori District, Tbilisi
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Country : |
Georgia |
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Date of Incorporation : |
28.01.2011 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as Importers and Distributors of
Sanitary Ware. |
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No. of Employees : |
4 |
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
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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.
|
Source
: CIA |
Energissimo ShPS (Correct)
ENERGISSIMO
LTD (Requested)
Street :
Kindzmarauli Street 7
Area :
Isani-Samgori District
Town :
Tbilisi
Country :
Georgia
Mobile : (995 555) 541 145 / (995 577) 552 515 (Aleksandr Saqvarelidze)
E-Mail : sanitec.georgia@gmail.com /
mikhail@goncharov.biz / tbilisi@energissimo.ge
Extended
Name : Energissimo Shazguduli Pasukhismbgeblobis Sazagadoeba
English
Translation : Energissimo Ltd
Name Position
Mikheil Goncharov Managing Director
Total Employees : 4
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 10,000
Trade risk assessment: Normal
NAME : PROCREDIT BANK JSC
Branch : Agmashenebeli Avenue 154
Town :
Tbilisi 0112
Telephone: (995 32) 2202 222
Fax : (995 32) 2250 580
Private companies in Georgia are not required to
publish or disclose balance sheets. However, the subject interviewed offered
the following information :
Sales Turnover :
LARI 307,794 - 2013 - exact
Excluding VAT (18%) : LARI 173,000 - 2014 – exact *
Net Profit
: LARI 21,000 - 2013 -
exact
: Not given
- 2014 – exact
* Decrease in sales turnover in 2014 was due to
unfavourable market conditions.
Financial year ends 31 December.
Date Started : 28 January 2011
History : The subject company was established in
Georgia on 28 January 2011.
ID Code : 404885807
Capital : not given
Shazguduli Pasukhismbgeblobis Sazagadoeba (limited
liability company) ShPS) with the following director and shareholders :
Director
Mikheil Goncharov
(Georgian national / Personal No.: 01002003310)
Shareholders Percentage
1. Mikheil
Goncharov
59.90%
(Georgian
national / Personal No.: 01002003310)
2. Energissimo LLC 40%
UK
C.R. No. : E0096502011-1
3. Giorgi Gnolidze 0.10%
(Georgian national / Personal No.: 01010011089)
Affiliated companies
of the subject company :
Associate
Sanitek
Jorjia ShPS
Tsereteli Avenue
116
Tbilisi
Telephone: (995
32) 234 2928 / (995 577) 552 515 (Aleksandr Saqvarelidze) / (995 597) 150 501
Fax : (995 32) 234 2928
Managing
Director: Mikhail Goncharov
Est.:
28 January 2011
ID
Code: 401950732
Sole shareholder: Mikheil Goncharov
It is understood
that subject's Director Mr. Aleksandr Saqvarelidze (Georgian national /
Personal No. 01007000870) is the unofficial owner of the business.
(Trading as importers and retailers of
sanitaryware)
As a matter of interest Mr. Aleksandr Saqvarelidze has interest in the
following company:
S-Jgupi ShPS
Samtredia Street,
Corpus 2, Flat 1
Didubi District
Tbilisi
Managing Director:
Aleksandr Saqvarelidze
Est.: 27 March
2007
ID code: 202379826
Sole shareholder:
Aleksandr Saqvarelidze
(ceased trading)
The Company is involved in the following activities
:
Trading as importers and distributors of sanitary
ware.
NACE Code: 4673
Imports from Poland and China.
Subject does not export, all sales are domestic.
The Company has the following facilities :
Administrative offices and storage facilities
located at the heading address.
Kindzmarauli Street 7
Isani-Samgori District
Tbilisi
You enquired on: ENERGISSIMO LTD. Please note that this
name applies to an English translation of the subject’s name. Subject’s correct
registered name is as per heading.
The telephone number given by you: +955 577 552515
is incorrect. Subject’s correct telephone number is as per heading.
Interviewed: Aleksandr Saqvarelidze (partner of Mr. Mikheil
Goncharov).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.85 |
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1 |
Rs.98.12 |
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Euro |
1 |
Rs.71.28 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
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.