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Report No. : |
325099 |
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Report Date : |
10.06.2015 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Village Kalvata 1/1 Sachkhere 4011 |
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Country : |
Georgia |
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Date of Incorporation : |
29.05.2013 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
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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 15,000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 |
CO. NAME : LENTA SHPS (CORRECT)
LENTA SHPS (LENTA
LTD) (REQUESTED)
Street : Village Kalvata 1/1
Town : Sachkhere 4011
Country : Georgia
Mobile : (995 599) 550 739 (Teimuraz Tomashvili) / (995 593) 263
070 / (995 593) 158 696
E-Mail : rostomi.namgladze@mail.ru
Extended Name : Lenta Shazguduli Pasukhismbgeblobis Sazagadoeba
English Translation : Lenta Ltd
Name Position
1. Teimuraz Tomashvili Managing Director
2. Merab Shubladze Deputy Managing Director
(brother of the above)
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 15,000 (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 : KARTU BANK
JSC
Branch : Ilia Chavchavadze Avenue 39A
Town : Tbilisi 0179
Telephone : (995 32) 232 2300
Fax : (995 32) 232 2300
The company also has an
account with :
Bank of Georgia JSC
Gagarin Street 29a
Tbilisi 0105
Telephone : (995 32) 244 4256
Fax : (995 32) 244
4289
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 : US DLRS 120,000 - 2013 - exact *
: US DLRS
300,000 - 2013 – approx
Net Profit : not given
Total Invested Capital : US
DLRS 80,000 (as of September 2013)
* First 5 months of
operations (May - September).
Financial year ends 31
December.
Date Started : 29 May 2013
ID Code : 439393782
Capital : not given
Shazguduli Pasukhismbgeblobis
Sazagadoeba (limited liability company) with the following director and sole
shareholder :
Director
Teimuraz Tomashvili
(Georgian national /
Personal No.: 37001007139)
Shareholder
Percentage
Rostomi Namgladze 100%
(Georgian national /
Personal No.: 38001005297)
The Company is involved in
the following activities :
Trading as importers and wholesalers
of stationery products, school supplies and papers.
Manufacturers of paper
rolls for cash registers.
NACE Code : 4762
Imports from Finland,
Germany, Poland and Indonesia.
Subject does not export, all sales are
domestic.
Exported occasionally to
Armenia.
The Company has the following facilities :
Administrative offices and
storage facilities located at the heading address.
Subject previously was
located at:
Tsereteli Avenue
Didube District
Tbilisi
village Kalvata 1/1
Sachkhere 4011
You enquired on: LENTA SHPS
(LENTA LTD). Please note that the correct name is as per heading.
Interviewed: Teimuraz
Tomashvili (Managing Director).
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.94 |
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1 |
Rs.98.27 |
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Euro |
1 |
Rs.72.37 |
INFORMATION DETAILS
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Analysis Done by
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RAS |
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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.