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Report No. : |
325204 |
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Report Date : |
12.06.2015 |
IDENTIFICATION DETAILS
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Name : |
AGRIM ASIA LIMITED SHPS |
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Registered Office : |
Likhauri Street 21, Vake-Saburtalo District, Tbilisi 0171 |
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Country : |
Georgia |
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Date of Incorporation : |
24.01.2013 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as importers and distributors of food products, mainly nuts,
grains, spices and seeds. |
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No. of Employees : |
4 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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) |
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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 |
Agrim Asia Limited ShPS
(Correct)
AGRIM
ASIA LIMITED (Requested)
Street : Likhauri Street 21
Area : Vake-Saburtalo District
Town : Tbilisi 0171
Country :
Georgia
Telephone : (995 32) 218 0056 / Mobile (995 555)
087 766 (Sujata Kumari) / (995 577) 161 897 / (372 54) 700 176
E-Mail :
grimasia@gmail.com
Website :
www.agrimasia.com
Extended
Name : Agrim Asia Limited
Shazguduli
Pasukhismbgeblobis Sazagadoeba
English
Translation : Agrim Asia
Limited Ltd
Name Position
1. Aptab Muhamed Alam Managing
Director
2. Sujata Kumari General
Manager
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.
Trade risk assessment: Normal
As per the interview subject’s shareholding
structure is currently changing. Application was submitted on 10 June 2015 and
Mrs. Sujata Kumari will be added as a shareholder.
NAME :
TBC BANK JSC
Branch :
Marjanishvili Street 7
Town :
Tbilisi 0102
Telephone:
(995 32) 227 2727
Fax : (995 32) 277 2774
Private companies in Georgia are not required to
publish or disclose balance sheets. However, the subject interviewed offered
the following information :
Sales Turnover :
LARI 1,000,000 - 2014 – approx
: LARI 3,000,000 – 2015 - projected
Net Profit :
but stated to be 3% of the sales turnover
Financial year ends 31 December.
Date Started :
24 January 2013
History :
The subject company was established in Georgia on 24 January 2013.
ID Code :
404973882
Capital :
not given
Shazguduli Pasukhismbgeblobis Sazagadoeba (limited
liability company) ShPS) with the following director and sole shareholder :
Director
Aptab Muhamed Alam
(Indian national/ Personal
No.: L1971256)
Shareholder
Aptab Muhamed Alam 100%
(Indian national / Personal No.: L1971256)
As matter of interest subject’s General Manger Mrs.
Sujata Kumari has
interest in the following company:
Argani ShPS
Aktseretli Street 112
Didube-Chughureti District
Tbilisi
Managing Director: Dimitri Bakanidze
Est.: 1 November 2012
ID Code: 401976643
Shareholders:
- Dimitri Bakanidze 50%
- Sujata Kumari 50%
The Company is involved in the following activities
:
Trading as importers and distributors of food
products, mainly nuts, grains, spices and seeds.
NACE Code: 4690
Imports from India, Sri Lanka, Vietnam 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.
Likhauri
Street 21
Vake-Saburtalo District
Tbilisi 0171
You enquired on: AGRIM ASIA LIMITED. Please note that the
correct name is as per heading.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.89 |
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1 |
Rs.98.90 |
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Euro |
1 |
Rs.72.31 |
INFORMATION DETAILS
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Analysis Done by
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RAS |
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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.